FORT WORTH, Texas--(BUSINESS WIRE)--MorningStar Partners, L.P., which will be renamed “TXO Energy Partners, L.P.” (“TXO”), announced today the launch of its initial public offering of 5,000,000 common units representing limited partner interests in TXO (the “common units”). TXO will also grant the underwriters an option to purchase up to an additional 750,000 common units at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $19.00 and $21.00 per common unit. We have applied to list our common units on the New York Stock Exchange under the ticker symbol “TXO.”
The common units being offered to the public represent an approximate 17% limited partner interest in TXO, or an approximate 19% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units.
Raymond James, Stifel, Janney Montgomery Scott and Capital One Securities are acting as joint book-running managers for the offering. The offering of these securities is being made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. When available, a copy of the preliminary prospectus may be obtained from any of the following sources:
Raymond James & Associates, Inc. Attention: Syndicate 880 Carillon Parkway St. Petersburg, Florida 33716 Telephone: (800) 248-8863 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. |
Stifel, Nicolaus & Company, Incorporated Attention: Syndicate Department One South Street, 15th Floor Baltimore, MD 21202 Telephone: (443) 224-1988 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. |
Janney Montgomery Scott LLC Attention: Equity Capital Markets Group 60 State Street Boston, MA 02109 Telephone: 617-557-2971 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. |
Capital One Securities, Inc. Attention: ECM Syndicate Operations 201 St. Charles Avenue, Suite 1830 New Orleans, LA 70170 Telephone: 800-666-9174 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. |
Important Information
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov under “MorningStar Partners, L.P.” This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About TXO Energy Partners, L.P.
TXO Energy Partners, L.P. is a master limited partnership focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. TXO’s current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the words such as “possible,” “if,” “will” and “expect” and contain statements regarding the size, timing or results of the initial public offering. These forward-looking statements represent TXO’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, and they are subject to risks, uncertainties and other factors, many of which are outside of TXO’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, TXO does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for TXO to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with TXO’s initial public offering. The risk factors and other factors noted in TXO’s prospectus could cause its actual results to differ materially from those contained in any forward-looking statement. You are cautioned not to place undue reliance on these forward-looking statements.
TXO Energy Partners, L.P.
Investor Relations Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) today announced the commencement of a cash tender offer to purchase any and all of the outstanding aggregate principal amount of the 5.625% senior unsecured notes due 2024 that we co-issued with our subsidiary, Genesis Energy Finance Corporation. As of January 18, 2023, $341,135,000 aggregate principal amount of the notes were outstanding. The tender offer is being made pursuant to an offer to purchase and a related letter of transmittal, each dated as of January 18, 2023, and notice of guaranteed delivery. The tender offer will expire at 5:00 p.m., New York City time, on January 24, 2023, unless extended (the “Expiration Time”). Settlement is expected to occur on January 25, 2023.
Holders of notes that are validly tendered and accepted at or prior to the Expiration Time will receive in cash the total consideration of $1,001.70 per $1,000 principal amount of notes, plus any accrued and unpaid interest up to, but not including, the settlement date.
The tender offer is contingent upon, among other things, our successful completion of one or more debt financing transactions, including potential debt securities offerings, in an amount sufficient to fund the purchase of validly tendered notes accepted for purchase in the tender offer and to pay all fees and expenses associated with such financing and the tender offer. The tender offer is not conditioned on any minimum amount of notes being tendered. We may amend, extend or terminate the tender offer in our sole discretion.
Tendered notes may be withdrawn at any time prior to the Expiration Time. This press release is neither an offer to purchase nor a solicitation of an offer to sell any notes. The tender offer is being made pursuant to the terms and conditions contained in the offer to purchase, the related letter of transmittal and the notice of guaranteed delivery, copies of which may be obtained from D.F. King & Co., Inc., the information agent and tender agent for the tender offer, by telephone at (800) 578-5378 (toll-free) or, for banks and brokers, at (212) 269-5550 (Banks and Brokers Only) or in writing at D.F. King & Co., Inc., 48 Wall Street, 22nd Floor, New York, New York 10005, Attention: Michael Horthman, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. Persons with questions regarding the tender offer should contact the dealer manager, Wells Fargo Securities, LLC by telephone at (866) 309-6316 (toll-free) or (704) 410-4756.
Copies of the offer to purchase, the related letter of transmittal and the notice of guaranteed delivery are also available at the following web address: www.dfking.com/genesis.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, marine transportation and onshore facilities and transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
This press release includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, no assurance can be given that our goals will be achieved, including statements related to the tender offer. Actual results may vary materially. We undertake no obligation to publicly update or revise any forward-looking statement.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
Matrix Sensors, RPSi, and SunGreenH2 join the movement to bring on the future
HOUSTON--(BUSINESS WIRE)--Halliburton Labs introduces Matrix Sensors, Renew Power Systems (RPSi), and SunGreenH2 as the newest participants in its clean energy accelerator.
The move is part of Halliburton Labs’ ambition to advance clean energy innovation. Halliburton Labs helps early-stage companies increase their attractiveness to prospective customers and investors by contributing expertise, connections, facilities, and more to help achieve strategic commercialization milestones with more efficient use of time and capital.
“Companies across the energy landscape are interested in scalable innovations that improve the cost, reliability, and sustainability of energy,” said Managing Director Dale Winger. “Our tailored program combines expert support, access to a global network, and the physical resources for participants to scale. We’re excited to help these companies accelerate their market traction.”
Matrix Sensors
Matrix Sensors uses a new class of gas-adsorbing materials known as metal-organic frameworks to develop the world’s first quantitative gas sensor on a chip. The touch-free technology enables advancements in sensor size, power, cost, and performance to address limitations of current gas sensor technologies, which require manual calibration every six months.
Matrix Sensors CEO Steve Yamamoto said, “With Halliburton’s global reach, we can apply our technology to some of the biggest problems facing the energy sector today, including CO2 sensors for energy efficient buildings and methane sensors for leak detection.”
Renew Power Systems
RPSi is a U.S.-based, clean-tech company that develops hardware and software solutions that enable flexible and sustainable grid infrastructure. RPSi uses power electronics to connect renewable energy resources, such as wind and solar, with each other and the grid.
“Our mission is to help change the way the world generates and distributes energy,” said CEO Zach Emond. “With RPSi technology, a diverse range of domestic and global communities will benefit from the acceleration of renewable energy resources that work with new and existing grid infrastructure and improve access to affordable, sustainable, and resilient electricity.”
SunGreenH2
SunGreenH2 builds high-performance hardware for electrolyzer cells, stacks, and systems that increase hydrogen production, decrease energy use, and reduce platinum group metals use. The company supplies hardware components for alkaline and proton-exchange membrane electrolyzers. Its modular, high-efficiency anion exchange membrane (AEM) electrolyzer stack, which is being commercialized, uses renewable power to produce low-cost green hydrogen for industries, transport, and energy storage.
“We are excited to unlock the future of green hydrogen production. With the help of Halliburton’s engineering and manufacturing expertise, we plan to commercialize and roll out our product in major international markets,” said Tulika Raj, Co-founder and CEO.
The next Halliburton Labs Finalists Pitch Day is Friday, Jan. 27 from 9:30 a.m.-12:30 p.m. CT at The Ion in Houston. The event will include pitches from 10 innovative, early-stage energy tech companies. To attend or watch via online broadcast, please register here.
About Halliburton Labs
Halliburton Labs is a collaborative environment where entrepreneurs, academics, investors, and industrial labs join to advance cleaner, affordable energy. Located at Halliburton Company’s headquarters in Houston, Texas, Halliburton Labs provides access to world-class facilities, operational expertise, practical mentorship, and financing opportunities in a single location to help participants scale their business. Visit the company’s website at www.halliburtonlabs.com. Connect with Halliburton Labs on Twitter, LinkedIn and Instagram. Halliburton Labs is a wholly owned subsidiary of Halliburton Company (NYSE: HAL).
Investor Relations Contact
David Coleman
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281-871-2688
Press Contact
Amina Rivera
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281-871-2601
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, announced today its Certification™ by Great Place to Work® across North America. This is the first time that all three counties have been recognized in the same year. This marks the first win for Canada and Mexico, and the fifth time the United States team has been named to the list. The team in Costa Rica also earned this recognition.
The prestigious award is based entirely on what current employees say about their experience working at Schneider Electric. Employees across the region, including US: 84 per cent, Canada: 80 per cent, Mexico: 89 per cent and Costa Rica 91 per cent this year reporting that it’s a great place to work. Great Place to Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.
“Being recognized with this award in North America shows that our inclusive, caring, and people-centric culture resonates among teams,” said Mai Lan Nguyen, Senior Vice President, Human Resources, Schneider Electric North America. “We continue to focus on the employee experience and recognize that by creating a collaborative, positive, high-trust work environment, we are empowering our employees to thrive in their current positions and throughout their careers.”
Schneider Electric offers a variety of benefits, resources, and well-being programs to support employees in being their best in all aspects of their lives — at work, at home, and everywhere in between. Some of these benefits include:
“Great Place to Work Certification™ isn’t something that comes easily – it takes ongoing dedication to the employee experience,” said Sarah Lewis-Kulin, Vice President of Global Recognition at Great Place to Work. “It’s the only official recognition determined by employees’ real-time reports of their company culture. Earning this designation means that Schneider Electric is one of the best companies to work for in each of these countries.”
According to Great Place to Work research, job seekers are 4.5 times more likely to find a great boss at a Certified great workplace. Additionally, employees at Certified workplaces are 93 per cent more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company’s profits and have a fair chance at promotion.
For more information on Schneider Electric, including career opportunities, please visit www.se.com.
About Great Place to Work Certification™
Great Place to Work® Certification™ is the most definitive “employer-of-choice” recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place to Work-Certified.
About Great Place to Work®
Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.
Learn more at greatplacetowork.com and on LinkedIn, Twitter, Facebook and Instagram.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog
Hashtags #SchneiderElectric #GreatPlacestoWork #SEGreatPeople
Media:
Media Relations - Edelman on behalf of Schneider Electric, Juan Pablo Guerrero
Phone: +1 416 875 7173, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), the global leader in Silicon Carbide technology, will conduct a conference call and audio webcast to discuss its second quarter fiscal 2023 results and business outlook on January 25, 2023, at 5:00 p.m. Eastern Time.
After the close of the market on January 25, and prior to the conference call, Wolfspeed will issue a copy of the earnings press release via Business Wire. The press release may also be viewed on Wolfspeed’s website at http://www.wolfspeed.com/.
To listen to a live webcast of the call, simply go to Events & Presentations - Wolfspeed, Inc. and follow the login instructions. The recorded webcast will also be available at the site for replay.
About Wolfspeed, Inc.:
Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of Silicon Carbide and GaN technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product families include Silicon Carbide materials, power devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.
Wolfspeed® is a registered trademark of Wolfspeed, Inc.
Twitter: @Wolfspeed
LinkedIn: @Wolfspeed
Media Relations:
Melinda Walker
Director, Corporate Communications
818-261-4585
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Investor Relations:
Tyler Gronbach
VP, Investor Relations
919-407-4820
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Combined Funding in Europe and North America Reaches an All-Time High of $82B in 2022, with Europe Growing 26% Faster than the U.S.
LONDON & PORTLAND, Ore.--(BUSINESS WIRE)--Net Zero Insights, the leading market intelligence platform for climate tech in Europe and North America together with Alder & Co., a purpose-driven climate tech marketing agency, today announced year-end climate tech investment results for 2022 totaling a record-setting sum of $82 billion, a 20% increase compared to 2021. While the majority, $43.9 billion, came from the U.S., Europe’s total funding reached $35.6B, representing a 33% year-over-year increase, compared to only 7% in the U.S.
Europe’s funding surge of 33% was driven by investments in energy, which saw an increase in funding by 81% ($18.5B), followed by transport ($9.4B), circular economy ($7.1B) and industry ($6B). The sectors showing the strongest growth in Europe are industry (+645%), GHG capture, removal and storage (+457%) and emissions control, reporting and offsetting (+433%). Climate tech companies from the United Kingdom scored the highest funding ($8.1B), followed by Sweden ($7.7B) and Germany ($5.3B). Finland saw the biggest year-over-year growth of any European country driven by four mega-deals respectively across supply chain tracking, climate fintech, quantum computing and circular electronics.
“Unsurprisingly, energy was the strongest sector in Europe, with investors seeing a resurgence of renewable energy projects and technologies to strengthen Europe’s energy independence,” said Frederico Cristoforoni, co-founder, Net Zero Insights. “Europe is also banking on hydrogen and decarbonizing heavy industry.”
In 2022 solutions to decarbonize industry generated momentum as more investment poured into hardware. Even excluding the mega-round raised for H2 Green Steel of $4.54B, (the largest ever climate tech investment in Europe), the industry sector almost doubled year-over-year investment.
H2 Green Steel was far from the only substantially large investment, as mega-rounds accounted for 6.6% of rounds in 2022, showing a growing maturity of the ecosystem. Other mega-rounds included Northvolt, TerraWatt Infrastructure, Flexport and Enpal.
While venture capital and overall funding slowed down in the U.S., the median deal size increased significantly from $2.4M to $5.5M, a growth of 132%. From a challenge perspective, GHG capture, removal and storage was by far the fastest growing sector in the U.S. with a year-over-year growth rate of +1632%, translating to a total of $1.4B.
The recently passed Inflation Reduction Act (IRA) was the single largest investment in climate and energy in American history at $369B. Included within are appropriations of $250B in loans: $11.7B for new loans, $100B for increasing existing loans and $5B for a new loan program, the Energy Infrastructure Reinvestment (EIR).
“We expect 2023 to be a big year for transatlantic partnerships in climate tech,” said Melanie Adamson, chief marketing strategist, Alder & Co. “With European climate tech companies closing the funding gap vis-a-vis their North American counterparts, we’re seeing companies seeking collaboration and expansion opportunities on both sides of the Atlantic.” For more details on climate tech investment by sector, funding, and geography, read the report here.
About Net Zero Insights
Net Zero Insights operates the Net0 Platform – today probably the most comprehensive database of climate tech startups and SMEs operating in Europe and North America. Investors, corporates and decision-makers work with us to gain insight into financial and tech trends by accessing data on funding rounds, activity sectors, technology, patents, contact details, and much more. Find out more: netzeroinsights.com
About Alder & Co
Alder & Co. is a leading, global strategic brand marketing agency with the mission to drive the adoption of climate technologies until they become universal. Alder partners with forward-facing, innovative climate tech companies who need progressive brand & marketing strategies to drive growth, secure investment and make the impact needed to address our generation’s most urgent crisis – our environment. Find out more: alderagency.com
Whitney McGoram: This email address is being protected from spambots. You need JavaScript enabled to view it.
Issues letter to stockholders outlining strategy for reconfiguring the Board to ensure the Company ends its persistent underperformance and captures the benefits of the Inflation Reduction Act (IRA)
MILWAUKEE--(BUSINESS WIRE)--WM Argyle Fund (the “Fund”, “we”, or “our”), which owns 207,200 of the outstanding common shares of Broadwind, Inc. (NASDAQ: BWEN) (“BWEN” or the “Company”), today announced that it has nominated six highly qualified, independent candidates for election to the Company’s Board of Directors (the “Board”) at the 2023 Annual Meeting of Stockholders (the “Annual Meeting”). In addition, the Fund issued the below letter and launched the following site to house stockholder resources: www.BWEN2023.com
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Fellow Stockholders,
We are one of the largest stockholders of BWEN, holding a 207,200 share stake in the Company. We built this position after watching the Company underperform for many years despite its potential. Over the last six months, we have been trying to work with the Board to discuss significant performance issues that must be addressed so the Company can achieve its potential. Namely, they have not acted with urgency to make the Company profitable, are burning cash at an unsustainable rate, have diluted stockholders through equity raises, and have incurred debt to fund the cash burn. Unfortunately, they have not been willing to discuss these issues with us.
While the 2-year $175 million wind tower order is welcome news, the Board simply does not have a track record of success that would make us believe they can capitalize on the opportunities presented by the Inflation Reduction Act (IRA). The fabrication business has historically been the best performing business unit; however, it could not offset the bloated overhead and losses generated by the other business units. We believe there is significant execution risk moving forward, and we question the Board’s ability to manage all aspects of the Company to the benefit of its Stockholders.
It is our honor to be firmly aligned with you as a fellow stockholder and to seek to represent your interests in the boardroom. We believe in the long-term value that can be unlocked at BWEN. Accordingly, we recently decided to exercise our right as a stockholder to nominate a full slate of highly qualified director candidates for election to the Company’s Board at the Annual Meeting. This letter is intended to convey three key points that are expanded upon in subsequent sections:
Our decision to nominate a slate has been planned for a while and is about creating sustained value for all BWEN stockholders. To be clear, we are not seeking to acquire all or part of the Company. We are not seeking to take any steps that are counter to your interests. We are investing our own energy, capital, and time in a campaign to ignite a brighter future for all the Company’s stakeholders.
Our director nominees have a track record of success and operational execution. They all have a background working at Bucyrus International. Bucyrus was a successful global mining equipment company that was sold to Caterpillar (CAT) for $7.6 billion in 2011. Bucyrus excelled at manufacturing large fabrications and gearing. These products are central to what BWEN is built upon. Furthermore, Bucyrus grew significantly in the span of a decade through organic growth and prudent acquisitions. This is the approach and track-record we want to bring to BWEN.
THE FACTS PERTAINING TO BWEN’S HISTORY
BWEN is an unsuccessful company with great potential. The current Board of BWEN think they can bring about change despite already having over a decade to do so. They have signed previous tower orders worth tens of millions of dollars and yet the Company is still unprofitable. They also have wasted tens of millions of dollars on acquisitions that have been written off. The execution risk is just too high for this Board to stay in place.
Throughout BWEN’s history as a public company, it has consistently promised a brighter future but has never delivered. Here are some facts about the Company.
Prior to undertaking our decision to nominate our own slate of directors, we reached out to the Board to discuss our concerns. We sent letters starting on July 25, 2022 and expressed the need for the Board to discuss the issues we identified and to appoint new directors who could bring a fresh set of eyes and new ideas. However, instead of engaging with one of BWEN’s largest stockholders, they declined to discuss any of the topics we proposed.
After trying for several months to engage with the Board, they unilaterally appointed a new director on November 2, 2022. In their rush to appoint a new director, they failed to find a candidate that brings new experience and simply duplicated experience already found on the Board. We view this appointment as a reactionary decision by the Board that only serves to prove our governance concerns.
If the Board believes BWEN is on the right track, we would like to know what standard they are using to make such a determination. We are not convinced the Board can effectively manage the Company and do not want to risk the unique opportunity that the IRA legislation has brought.
WE BELIEVE WE HAVE THE RIGHT PLAN AND INDIVIDUALS TO PRODUCE SUPERIOR LONG-TERM VALUE
Given BWEN’s distinct assets, significant potential, and positioning in addressable markets, we believe the Company can evolve into a diversified, growing, and profitable manufacturing platform for clean-tech and mission critical equipment. To achieve this, our nominees believe a new set of strategic priorities is needed. A high-level and preliminary overview of these priorities includes:
In the coming weeks, we look forward to sharing more detail regarding our strategy for unlocking the full potential and value of BWEN. We intend to issue a public presentation prior to this year’s Annual Meeting to provide the market with a very clear sense of our plan, tactics, and transition planning.
In the meantime, I am pleased to share summarized biographies for the WM Argyle Fund six-member slate:
We thank you in advance for your consideration and willingness to evaluate WM Argyle Fund’s plan and slate. To join our mailing list and share your views on BWEN, we invite you to visit www.BWEN2023.com.
Sincerely,
Ryan Bogenschneider
January 18, 2023
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Certain Information Concerning the Participants
The WM Argyle Fund intends to file a preliminary proxy statement and accompanying GREEN Universal proxy card with the Securities and Exchange Commission to be used to solicit votes for the election of its slate of highly qualified director nominees at BWEN’s 2023 Annual Meeting.
THE WM ARGYLE FUND STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR.
The participants in the solicitation are anticipated to be WM Argyle Fund, Jay Douglas Armburger, Ryan Bogenschneider, Kenneth H. Bergman, Christine M. Candela, Kristina A. Harrington, and James M. Robinson IV.
As of the date hereof, each of Mr. Bogenschneider, as a board member and CEO of WM Argyle Fund, and Mr. Armburger, as a board member of WM Argyle Fund, may be deemed to beneficially own 207,200 shares of common stock of the Company held by WM Argyle Fund. As of the date hereof, none of Mr. Bergman, Ms. Candela, Ms. Harrington, or Mr. Robinson beneficially owns any shares of Common Stock.
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1 SEC Filings; 2021 net income was due to PPP loan forgiveness
2 SEC Filings; Q3-2022 Accumulated Deficit
3 SEC Filings; Acquisitions include Brad Foote, EMS, Badger, and Red Wolf
4 SEC Filings; 2012 and 2021 Annual Reports
5 SEC Filings; Q4-2012 and Q3-2022 quarterly reports
6 SEC Filings; Acquired Q1-2017, subsequent write downs in Q2-2018 and Q4-2018
7 SEC Filings; Q3-2016 to Q3-2022 shares outstanding
8 SEC Filings; 2001 Annual Report
Investors:
InvestorCom
John Glenn Grau, 203-972-9300
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Media:
Mahony Partners
Richard Mahony, 917-257-6811
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$267 million financing leverages Production Tax Credit (PTC) structure made available for solar in the Inflation Reduction Act of 2022
SAN FRANCISCO--(BUSINESS WIRE)--#Arkansas--Lightsource bp has successfully closed on a $267 million tax equity investment from Fortune 500 Wells Fargo & Company (NYSE: WFC), a leading financial services company with approximately $1.9 trillion in assets. The tax equity investment by Wells Fargo is in addition to Lightsource bp’s sponsor equity investment and complements the debt financing package which originally closed in December 2021.
“We are pleased to support Lightsource bp in its efforts to supply low-cost, emission-free solar electricity in Louisiana and Arkansas,” said Shane Easter, a director with Wells Fargo’s Renewable Energy & Environmental Finance group. “Providing expertise and capital to important customers like Lightsource bp is part of our commitment to deploy $500 billion in sustainable financing by 2030 to support our customers and communities as they transition to a resilient, equitable and sustainable future.”
Well Fargo’s investment will support the construction and operation of a two-project portfolio totaling 481 megawatt dc (MW), which are among the largest projects in each state, and include:
As the tax equity investor, Wells Fargo is now the eighth global financial institution to support this portfolio of projects, joining the portfolio’s project finance lenders including HSBC Bank USA, ING Capital LLC, Societe Generale, NatWest, Intesa Sanpaolo, Standard Chartered Bank, and Allied Irish Banks.
Collectively, the projects will abate more than 630,00 metric tons of greenhouse gas emissions each year. Both projects are scheduled to come online starting in 2023, creating 600 direct construction jobs.
“This investment is a great example of the positive impact that top tier financial institutions with meaningful commitments to sustainability such as Wells Fargo can make to help accelerate our country’s transition to a low-carbon economy and reduce the impacts of climate change that affect lives and livelihoods,” said Kevin Smith, Lightsource bp’s CEO of the Americas. “The new tax credit options and stable policy environment for job growth made possible by the Inflation Reduction Act will further incentivize investment and spur the growth of America’s solar industry.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.
About Lightsource bp
Lightsource bp is a global leader in the development and management of solar energy and energy storage projects and a 50:50 joint venture with bp. For more than a decade, Lightsource bp has delivered affordable, safe and sustainable energy to businesses and communities around the world. Their team includes nearly 1,000 industry experts, working in 19 countries, providing full scope development for projects, from initial site selection, financing and permitting to long-term management of solar projects and energy sales to their customers. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Austin, Philadelphia and Atlanta. Since 2019, the team has brought into operation or initiated construction on U.S solar projects with capital costs of more than $4 billion, including projects in 10 states. For more information visit www.lightsourcebp.com/us.
Media contact:
Mary Grikas
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Shell to Acquire Volta in All-Cash Transaction Valuing Volta at Approximately $169 Million
NEW YORK--(BUSINESS WIRE)--Volta Inc. (NYSE: VLTA) today announced the execution of a definitive merger agreement under which Shell USA Inc., a subsidiary of Shell plc (NYSE: SHEL), will acquire Volta in an all-cash transaction valued at approximately $169 million. The transaction brings Volta's powerful dual charging and media network to Shell's established brand and seeks to unlock robust, long-term growth opportunities in electric vehicle ("EV") charging.
Under the terms of the merger agreement, Shell USA Inc. will acquire all outstanding shares of Class A common stock of Volta at $0.86 per share in cash upon completion of the merger, which represents an approximate 18 percent premium to the closing price of Volta stock on January 17, 2023, the last full trading day prior to the announcement of the transaction.
Vince Cubbage, Interim Chief Executive Officer, said, "The shift to e-mobility is unstoppable, and Shell recognizes Volta's industry-leading dual charging and media model delivers a public charging offering that is affordable, reliable, and accessible. While the EV infrastructure market opportunity is potentially enormous, Volta's ability to capture it independently, in challenging market conditions and with ongoing capital constraints, was limited. This transaction creates value for our shareholders and provides our exceptional employees and other stakeholders a clear path forward."
Cubbage continued, "Both Volta and Shell have a demonstrated ability to meet the changing needs of customers, and this acquisition will bring that experience together to provide the options that are needed as more drivers choose electric."
This acquisition builds on the momentum in electric mobility by combining one of the leading EV charging and media companies in the U.S. with one of the world's largest energy suppliers. The transaction provides the opportunity to unlock Volta's significant signed pipeline of charging stalls in construction or evaluation and capture the seismic EV charging market opportunity. Following the completion of the transaction, there will be no immediate change in driver experience, Volta Media™ Network capabilities available to advertisers, or services provided to commercial properties and retail locations.
As part of the agreement, an affiliate of Shell will provide subordinated secured term loans to Volta to bridge Volta through the closing of the transaction.
Approvals
Volta's Board of Directors, having determined that the transaction is in the best interests of the company's stockholders, has unanimously approved the transaction and recommends that Volta's stockholders approve the transaction and adopt the merger agreement at the special meeting of stockholders to be called in connection with the transaction.
The transaction is expected to close in the first half of 2023. The closing of the merger is subject to the approval of Volta's stockholders, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other applicable regulatory approvals, and other customary closing conditions. Upon closing of the transaction, Volta's Class A common stock will no longer be listed on any public market.
Advisors
Goldman Sachs & Co. LLC and Barclays Capital Inc. are serving as advisors to Volta, and Shearman & Sterling LLP is serving as Volta's legal advisor. Raymond James & Associates, Inc. provided a fairness opinion to Volta's Board of Directors. UBS Securities LLC is serving as a financial advisor to Shell, and Norton Rose Fulbright US LLP is serving as Shell's legal advisor.
About Volta Inc.
Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle ("EV") charging and media company. Volta's unique network of charging stations powers vehicles and drives business growth while accelerating a clean energy future. Volta delivers value to site hosts, brands, and consumers by installing charging stations that feature large-format digital advertising screens located steps away from the entrances of popular commercial locations. Retailers can attract and influence foot traffic, advertisers can precisely target audiences, and EV drivers can charge their vehicles seamlessly as they go about their daily routines. Volta's extensive network leverages its proprietary PredictEV® platform, which uses sophisticated behavioral science and machine learning technology to help commercial property owners, cities, and electric utilities plan EV infrastructure intelligently, efficiently, and equitably. To learn more, visit www.voltacharging.com.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication may be deemed to be solicitation material in respect of the proposed merger between a subsidiary of Shell USA, Inc. (“Shell”) and Volta Inc. (“Volta”). In connection with the proposed transaction, Volta plans to file a proxy statement on Schedule 14A (the “Proxy Statement”) with the U.S. Securities and Exchange Commission (“SEC”). STOCKHOLDERS OF VOLTA ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT VOLTA WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Stockholders and investors will be able to obtain free copies of the Proxy Statement and other relevant materials (when they become available) and other documents filed by Volta at the SEC’s website at www.sec.gov. Copies of the Proxy Statement (when they become available) and the filings that will be incorporated by reference therein may also be obtained, without charge, on Volta’s website at investors.voltacharging.com or by contacting Volta Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..
Participants in Solicitation
Volta and its directors, executive officers and certain employees, may be deemed, under SEC rules, to be participants in the solicitation of proxies in respect of the proposed merger. Information regarding Volta’s directors and executive officers is available in its proxy statement filed with the SEC on June 13, 2022 and in its current reports on Form 8-K filed with the SEC on June 13, 2022, July 12, 2022, August 2, 2022 and January 6, 2023. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC (when they become available). Investors should read the proxy statement and other relevant materials carefully when they become available before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.
Cautionary Statement Regarding Forward-Looking Statements
This communication includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Such statements include statements concerning anticipated future events and expectations that are not historical facts. All statements included in this communication other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are based on current expectations and assumptions about future events and currently available information as to the outcome and timing of future events. Such statements are inherently subject to numerous business, economic, competitive, regulatory and other risks and uncertainties, most of which are difficult to predict and many of which are beyond Volta’s control. No assurance can be given that such expectations will be correct or achieved or that the assumptions are accurate or that any transaction will ultimately be consummated. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,” “positions,” “plan,” “predict,” “project,” “forecast,” “guidance,” “goal,” “objective,” “prospects,” “possible” or “potential,” by future conditional verbs such as “assume,” “will,” “would,” “should,” “could” or “may,” or by variations of such words or by similar expressions or the negative thereof. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including, without limitation: (1) risks related to the consummation of the transaction, including the risks that (a) the transaction may not be consummated within the anticipated time period, or at all, (b) the parties may fail to obtain Volta stockholder approval of the merger agreement, (c) the parties may fail to secure the termination or expiration of the waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act or other applicable regulatory approvals, and (d) other conditions to the consummation of the merger under the merger agreement may not be satisfied; (2) the possibility of the termination of the merger agreement and the effects that any termination of the merger agreement may have on Volta or its business, including the risks that Volta’s stock price may decline significantly and that Volta may not be able to continue as a going concern if the transaction is not completed; (3) the effects that the announcement or pendency of the merger may have on Volta and its business, including the risks that as a result (a) Volta’s business, operating results or stock price may suffer, (b) Volta’s current plans and operations may be disrupted, (c) Volta’s ability to retain or recruit key employees may be adversely affected, (d) Volta’s business relationships (including, customers and suppliers) may be adversely affected, or (e) Volta’s management’s or employees’ attention may be diverted from other important matters; (4) the effect of limitations that the merger agreement places on Volta’s ability to operate its business, return capital to stockholders or engage in alternative transactions; (5) the nature, cost and outcome of pending and future litigation and other legal proceedings, including any such proceedings related to the merger and instituted against Volta and others; (6) the risk that the transaction and related transactions may involve unexpected costs, liabilities or delays; (7) other economic, business, competitive, legal, regulatory, and/or tax factors; and (8) other factors described under the heading “Risk Factors” in Part I, Item 1A of Volta’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and Quarterly Reports on Form 10-Q, each as updated or supplemented by subsequent reports that Volta has filed or files with the SEC. The risks and uncertainties may be impacted by the COVID-19 pandemic (including supply chain constraints, labor shortages and inflationary pressure). Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which such statement is made. Should one or more of the risks or uncertainties described in this communication occur, or should underlying assumptions prove incorrect, Volta’s actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Except as otherwise required by applicable law, Volta undertakes no obligation to publicly correct or update any forward-looking statement whether as a result of new information, future events or circumstances after the date of this communication, or otherwise.
For Investor / Analyst:
Drew Lipsher, Chief Development Officer
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For Media / Press:
Jette Speights, SVP of Communications
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Findings demonstrate that coordinated, industry-wide workforce development solutions are crucial to enable the transition to climate-friendly refrigerants
MILL VALLEY, Calif.--(BUSINESS WIRE)--#grocery--The North American Sustainable Refrigeration Council (NASRC), a 501(c)(3) environmental nonprofit working to advance climate-friendly natural refrigerants in supermarkets, today announced the publication of a report summarizing the commercial refrigeration industry’s increasingly critical technician shortage. The report proposes data-driven solutions to improve technician recruitment, training, and retention to grow the workforce.
“Anecdotal evidence from NASRC member contractors has long pointed to a shortage of commercial refrigeration technicians,” said Danielle Wright, executive director of NASRC. “We conducted this assessment to find concrete evidence and identify strategies to address this industry challenge.”
The assessment substantiated that the nationwide technician shortage is disrupting essential operations and threatening U.S. supermarkets’ ability to transition from super-polluting hydrofluorocarbon (HFC) refrigerants. Supermarket refrigeration is one of the leading sources of high global warming potential (GWP) HFC emissions. NASRC estimates the annual climate impact from U.S. supermarket refrigerant leaks to be 55 million metric tons of carbon dioxide equivalent.
NASRC gathered assessment information through interviews and written surveys from training, service, and human resource stakeholders. Though some national data was collected, the initial assessment primarily focused on California due to stringent regulations that have stimulated the transition from HFCs in the state.
“Our research found that the refrigeration technician workforce is caught in a negative feedback loop,” said Wright. “The shortage leads to demanding schedules, causing technicians to leave the field, further exacerbating the labor market supply issues.”
NASRC will coordinate an industry-wide implementation of the report recommendations, starting with a Natural Refrigerant Training Summit for technicians April 4 – 6, 2023, in Irwindale, California. Co-hosted with Southern California Edison, the event is free to attend and will feature training by leading manufacturers and experts. Learn more.
Download the free Workforce Development report.
About the North American Sustainable Refrigeration Council
The North American Sustainable Refrigeration Council (NASRC) is a 501(c)(3) environmental nonprofit working to advance climate-friendly natural refrigerants and reduce greenhouse gas emissions caused by traditional HFC refrigerants. We collaborate with stakeholders from across the industry, including over 38,000 food retail locations, to eliminate the barriers to natural refrigerants in supermarkets. For more information, visit nasrc.org, Linkedin, Twitter and YouTube.
Media Contact
Morgan Smith
North American Sustainable Refrigeration Council
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585-217-2254
As part of the agreement, Reading Municipal Light Department will purchase clean energy and the associated renewable energy certificates produced by one of FirstLight’s hydroelectric facilities in Connecticut
BURLINGTON, Mass.--(BUSINESS WIRE)--FirstLight Power, a leading clean provider of renewable energy and energy storage resources, today announced the extension of the company’s power purchase agreement with Reading Municipal Light Department (RMLD). Through the agreement, RMLD will purchase the full output of hydroelectric power and renewable energy credits from FirstLight’s Falls Village Generating Station in Connecticut, which averages around 41,000 Megawatt hours per year of hydroelectric power, becoming the exclusive buyer of energy generated by this asset. The agreement will advance RMLD’s strategy of exceeding the State’s noncarbon compliance requirements to obtain 50 percent of its power supply from noncarbon sources by 2030 and further position the towns of Reading, North Reading, Wilmington, and Lynnfield as leaders towards the State’s goal of decarbonization.
“We are thrilled to extend our collaboration with the Reading Municipal Light Department, which will help deliver clean, reliable, and cost-competitive electricity to RMLD ratepayers,” said Peter Rider, Senior Vice President of Commercial Operations of FirstLight Power. “The energy transition requires ambitious first-movers to put action on display, and that is exactly what RMLD is doing with this agreement – securing clean electricity for residents while simultaneously lessening the reliance on cost variable fossil fuels, which at this very moment are presenting significant cost challenges for people across the Commonwealth. We are proud to work with true leaders like RMLD who are committed to advancing decarbonization while providing unwavering best-in-class service to customers.”
Working in collaboration with RMLD, the new power purchase agreement will run from 2025 through 2040. As part of the agreement with RMLD, FirstLight’s Falls Village Station, which is located in Falls Village, CT, will supply the municipality with energy and renewable energy credits. Falls Village is a three-unit hydroelectric station on the Housatonic River and the facility is qualified as a Class I (CT Class I) renewable run-of-river energy facility. RMLD is the exclusive purchaser of all the energy and associated Class I certificates from this facility.
“RMLD provides reliable and cost-effective electricity to our customers while decarbonizing our power supply, and this innovative deal strengthens our performance in each of those key areas because hydroelectric power is a clean, affordable, and reliable energy source,” said RMLD General Manager Gregory Phipps. “This deal with FirstLight Power maintains our portfolio at approximately 25 percent hydroelectric power and reinforces RMLD’s prudent risk management practice of maintaining a balanced power supply portfolio across geography and generation type.”
The RMLD agreement builds on FirstLight’s proven track record of successfully working with municipalities to implement clean and cost-competitive power purchase agreements. In 2020, FirstLight entered into a landmark agreement with Energy New England (ENE) on behalf of 21 municipal utilities, which represented the largest renewable energy purchase by municipal utilities in New England. Building on this collaboration, FirstLight has extended individual agreements with several participating utilities along with a recent extension with ENE that included 13 municipal public power entities. In addition to paving the way to a clean energy future, these long-term contracts help protect municipalities and ratepayers from volatile energy prices associated with fossil fuel generation from oil and natural gas.
About FirstLight Power
FirstLight Power (FirstLight) is a leading clean power producer, developer, and energy storage company serving North America. With a diversified portfolio that includes over 1,400 megawatts of operating renewable energy and energy storage technologies, FirstLight specializes in hybrid solutions that pair hydroelectric, pumped-hydro storage, utility-scale solar, large-scale battery, and offshore wind assets. The company’s mission is to accelerate the decarbonization of the electric grid by supporting the development, operation, and integration of renewable energy and storage solutions to advance an electric system that is clean, reliable, affordable, and equitable. Based in Burlington, MA, with operating offices in Northfield, MA and New Milford, CT, FirstLight is a steward of more than 14,000 acres and hundreds of miles of shoreline along some of the most beautiful rivers and lakes in the Northeast. To learn more, visit www.firstlightpower.com or follow us on LinkedIn or Twitter.
About Reading Municipal Light Department (RMLD)
Established in 1894, Reading Municipal Light Department (RMLD) is a municipal electric utility serving over 70,000 residents in the towns of Reading, North Reading, Wilmington, and Lynnfield Center. RMLD has over 30,000 meter connections within its service territory.
Media:
For FirstLight Power
Claire Belanger, Communications Manager
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For RMLD
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Starlink antennas and budget-friendly support plans can be purchased a-la-carte to provide Maritime customers the reseller benefits without required product add-ons or unnecessary bundled services
MIAMI--(BUSINESS WIRE)--Anuvu, the leading provider of high-speed connectivity and entertainment solutions for demanding mobility markets, announced that it has become an authorized global reseller of Starlink’s connectivity. Anuvu is the first maritime technology reseller to offer these antennas at a price of $2,500.
Through the new reseller agreement, Anuvu is offering the fastest speeds available from Starlink’s constellation.
Anuvu has been supporting customers’ Starlink installations in the cruise, energy and yacht verticals since Starlink expanded its offerings to the maritime industry in July 2022. In October, Anuvu introduced the energy industry’s first crew portal tailored to support Starlink service, meeting operators’ need for faster connectivity to accommodate their employees’ video calls, high-definition video streaming and online gaming from remote locations.
“Before entering the Starlink resale business, we wanted to guarantee the most seamless, affordable, obligation-free experience for maritime customers and that’s exactly what we’ve done,” said Erik Carlsen, SVP, Maritime, Energy & Government at Anuvu. “Customers who buy Starlink from Anuvu get our expertise and customer support without any strings attached. For maritime operators adopting a LEO solution, there’s no simpler path than ours, to acquire Starlink.”
Anuvu is focused on giving maritime customers the easiest acquisition process for LEO connectivity, without requiring product or service bundles that Starlink does not mandate. Customers who buy a Starlink antenna from Anuvu will benefit from multiple payment options, end-user customer support, the fastest Starlink speeds in maritime, and simplified billing from a single source.
"We’re happy to engage as a trusted technology guide and partner for our customers, but if you just need the fastest Starlink maritime service available in a seamless and straightforward process, then Anuvu is the obvious choice,” Carlsen said.
Customers can opt for Anuvu to install the Starlink solution if they choose, as well as SD-WAN and an advanced suite of network-management tools that can enhance, monetize and optimize their connectivity, but they are not required to do so.
To purchase Starlink from Anuvu click here.
About Anuvu
Anuvu’s team of global experts effortlessly manage connectivity and content requirements for demanding mobility markets including airlines, cruise lines and mission-critical maritime, energy and government applications. Through long-standing customer relationships, we have a proven track record for meeting our customers’ needs, even as the world changes.
Anuvu’s flexible and agile approach enables us to adopt the newest technology to optimize our clients’ experience and we take pride in maximizing the performance of today, while optimizing for tomorrow. Our goal is to provide our clients with reliable, scalable and affordable solutions that meet the ever-changing needs of their passengers and guests. Through our intelligent leadership and innovation, Anuvu defines next-generation passenger experiences through integrated solutions tailored to our customers’ brands and service objectives.
Anuvu. Let Innovation Move You.
Kite Hill PR for Anuvu
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Revises full year 2022 revenue range to $142 – $152 million from previous $75-100 million
Significant fourth quarter over-performance driven by U.S. energy storage project execution and global gravity storage territory expansions
Updated 2023 outlook to be provided concurrent with upcoming earnings results in late-February 2023
LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or the “Company”), a leader in sustainable, grid-scale energy storage solutions, today announced updated fourth quarter and full year 2022 expected revenue results for its fiscal year ended December 31, 2022.
For the full year 2022, Energy Vault expects total revenue of $142 to $152 million, ahead of the Company’s previously communicated full year 2022 guidance of $75 to $100 million. The revised guidance implies expected fourth quarter 2022 revenue of between $96 and $106 million, compared to $29 to $54 million previously required to meet its full year 2022 forecast following the reporting of third quarter 2022 results.
Higher than forecasted results for full year 2022 were driven by project and supply chain execution ahead of schedule for previously announced battery energy storage systems (BESS) in the United States as well as territory expansions in Europe and the Middle East for the Company’s gravity energy storage systems (GESS).
Robert Piconi, Energy Vault’s Chairman and CEO commented, “The Energy Vault team closed the quarter well, demonstrating our collective enterprise focus on delivering for customers while capping off a successful first deployment year of growth and expansion. Despite the industry and supply chain pressures, our team demonstrated laser focus on the critical path of execution, reflecting the prioritization that Energy Vault received from suppliers during the quarter due to our commercial growth and strong global relationships. On our earnings call to be scheduled for late-February, we look forward to reviewing our full year 2022 results in greater detail and providing an update on the activity positively impacting our 2023 outlook.”
About Energy Vault
Energy Vault® develops and deploys utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The company's comprehensive offerings include proprietary gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each storage solution is supported by the Company’s hardware technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short-and-long-duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial reuse, Energy Vault’s EVx™ gravity-based energy storage technology is facilitating the shift to a circular economy while accelerating the global clean energy transition for its customers. Please visit www.energyvault.com for more information.
Forward-Looking Statements
This press release includes forward-looking statements that reflect the Company’s current views with respect to, among other things, the Company’s operations and financial performance. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “project,” “forecast,” “estimates,” “targets,” “projections,” “should,” “could,” “would,” “may,” “might,” “will” and other similar expressions. We base these forward-looking statements or projections on our current expectations, plans and assumptions, which we have made in light of our experience in our industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at the time. These forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These forward-looking statements are only predictions based upon our current expectations and projections about future events. These forward-looking statements involve significant risks and uncertainties that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including changes in our strategy, expansion plans, customer opportunities, future operations, future financial position, estimated revenues and losses, projected costs, prospects and plans; the implementation, market acceptance and success of our business model and growth strategy; our ability to develop and maintain our brand and reputation; developments and projections relating to our business, our competitors, and industry; the impact of health epidemics, including the COVID-19 pandemic, on our business and the actions we may take in response thereto; our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others; expectations regarding the time during which we will be an emerging growth company under the JOBS Act; our future capital requirements and sources and uses of cash; our ability to obtain funding for our operations and future growth; our business, expansion plans and opportunities and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov. New risks emerge from time to time and it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified in its entirety by the cautionary statements included in this press release. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws. You should not place undue reliance on our forward-looking statements.
Financial Disclosure Advisory
All financial data in this press release reflects expected preliminary results and represents the most current information available to the Company’s management, as financial closing procedures for the year ended December 31, 2022 are not yet complete. These estimates are not a comprehensive statement of the Company’s financial results for the year or quarter ended December 31, 2022 and actual results may differ materially from these estimates as a result of the completion of normal year-end accounting procedures and adjustments, including the execution of the Company’s internal control over financial reporting, the completion of the preparation and review of the Company’s financial statements for the year ended December 31, 2022 and the subsequent occurrence or identification of events prior to the formal issuance of full year financial results.
Investors
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ROSH HA’AYIN, Israel--(BUSINESS WIRE)--$BNRG #cleanenergy--Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy”; TASE: BNRG, Nasdaq: BNRG), a global leader in thermal energy storage, is pleased to announce that it has won the World CleanTech Awards’ 2022 Visionary CleanTech StartUp of the Year Award in Energy Distinction. Brenmiller President and CEO Avi Bremiller accepted the award on behalf of the Company at the World CleanTech Awards in Abu Dhabi on January 15, 2023.
Hosted by the CleanTech Business Club CBC, the World CleanTech Awards bring together companies, financial institutions, investors, politicians and influencers from 36 countries to recognize companies and individuals driving the transition to a clean energy future. Brenmiller was selected for its outstanding contributions to the field of energy storage. Recognition for this award comes after Brenmiller, in conjunction with the Enel Group, inaugurated the world’s first-ever thermal energy storage system integrated with an active power plant in Santa Barbara, Italy.
“It is an honor to join such an esteemed network of innovative companies named as World CleanTech Awards winners,” said Brenmiller president and CEO Avi Brenmiller. “This award was made possible by our team’s hard work and unwavering commitment to developing innovative, affordable, and scalable thermal energy storage solutions. We believe that our thermal energy storage systems will help decarbonize industrial heat production, which accounts for nearly a quarter of all global emissions.”
The 2022 World CleanTech Awards (“WCA”) winners were nominated and voted on by a jury of solar industry experts, including past winners of the Solar Future Today Visionary Influencers Awards and past WCA Awardees.
About Brenmiller Energy Ltd.
Brenmiller Energy delivers scalable thermal energy storage solutions and services that allow customers to cost-effectively decarbonize their operations. Its patented bGen thermal storage technology enables the use of renewable energy resources, as well as waste heat, to heat crushed rocks to very high temperatures. They can then store this heat for minutes, hours, or even days before using it for industrial and power generation processes. With bGen, organizations have a way to use electricity, biomass and waste heat to generate the clean steam, hot water and hot air they need to mold plastic, process food and beverages, produce paper, manufacture chemicals and pharmaceuticals or drive steam turbines without burning fossil fuels. For more information visit the company’s website at https://bren-energy.com/ and follow the company on Twitter and LinkedIn.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses its belief that the Company’s thermal energy storage systems will help decarbonize industrial heat production. Without limiting the generality of the foregoing, words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company’s results include, but are not limited to, the Company’s planned level of revenues and capital expenditures, the demand for and market acceptance of our products, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks and the risks associated with the adequacy of existing cash resources. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s prospectus dated May 24, 2022 filed with the U.S. Securities and Exchange Commission (“SEC”), which is available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media:
Tori Bentkover
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Leaders in secure distributed computing and energy systems unite to deliver a secure virtual power plant platform for distributed management of clean, cost-effective energy
SEOUL, South Korea & SAN FRANCISCO--(BUSINESS WIRE)--Intertrust, the world’s leading trusted distributed computing and rights management technology provider, and Korea’s EIPGRID, a leader in distributed energy resource management, today announced a partnership that will deliver a highly secure, efficient digital energy platform, which provides trusted distributed energy resource management (DERM) and virtual power plant (VPP) capabilities to energy companies and end users around the world. These technologies will be useful to help alleviate the worst energy crisis in decades.
Distributed energy resources such as storage, heat pumps and solar panels are indispensable for ensuring clean and resilient energy are provided to the global economy. DERM and VPP technologies leverage AI technology to match supply with demand and optimize the usage of these devices for energy efficiency. While most VPPs available today provide minimal or no security capabilities, Intertrust’s flagship product, Intertrust PlatformTM, delivers highly secure authentication and data management capabilities that enable DERM/VPP platforms to securely support devices and integrate data from multiple vendors and sources while complying with global regulatory requirements.
“Without robust security and authentication, VPPs are ripe for malicious attacks and data breaches,“ said Tony Lee, CEO of EIPGRID. “With Intertrust Platform, we can seamlessly support a large number of secure, distributed, endpoint devices and data sets in their implementations. The result is best-in-class trust, security, and energy efficiency for our customers,” added Lee.
Intertrust Platform authenticates and secures devices and data sets using a hyperscale IoT authentication technology, XPN technology for end-to-end, persistent protection of data and advanced data governance. Coupled with EIPGRID’s advanced AI and energy management platform, the two companies will stand behind the world's most robust and secure VPP/DERM system currently available.
“EIPGRID recognizes that VPPs are useless if compromised or when they leak data,” said Intertrust CEO, Talal G. Shamoon. “VPPs are only effective if they’re able to work securely with the largest number of distributed energy generation sources and endpoint IoT devices. Intertrust’s decades of experience authenticating billions of secure devices make us a uniquely ideal partner in this domain. We’re delighted to partner with EIPGRID to support their platform with secure, distributed management system that brings clean, cost-effective energy to global customers.”
About EIPGRID
EIPGRID Inc. is a community energy services and solutions provider with more than a decade of experience in the energy domain and operations all across the globe. Headquartered in Seoul, South Korea, the company offers a product line designed to support all energy market players, from community managers and end-users with energy resources, to power aggregators and utilities in charge of the grid. Through EIPGRID’s cutting-edge technology powered by AI, all market participants get to maximize their profits through the most optimal power management while diving into various business applications, including Demand Response, Solar, Energy Storage, EV, Micro-Grid, and simultaneously exploring numerous benefits of the RE100 business model and CO2 trading. For more information and updates, visit EIPGRID’s official website, LinkedIn and Twitter.
About Intertrust
Intertrust provides trusted computing products and services to leading global corporations–from mobile, consumer electronics and IoT manufacturers, to service providers and enterprise software platform companies. These products include the world's leading digital rights management (DRM) and technologies to enable private data exchanges for various verticals, including energy, entertainment, retail/marketing, automotive, fintech, and IoT. Founded in 1990, Intertrust is headquartered in Silicon Valley with regional offices in London, Tokyo, Mumbai, Bangalore, Beijing, Seoul, and Tallinn. The company has a legacy of invention, and its fundamental contributions in the areas of computer security and digital trust are globally recognised. Intertrust holds hundreds of patents that are key to Internet security, trust, and privacy management components of operating systems, trusted mobile code and networked operating environments, web services, and cloud computing. Additional information is available at intertrust.com, or follow us on Twitter or LinkedIn.
EIPGRID Media Contact
Jelena Elek
EIPGRID
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+82-2-3430-1752
Intertrust Media Contact
Jordan Slade
MSR Communications
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+1 757-876-5809
EWING, N.J.--(BUSINESS WIRE)--$OLED #OLED--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced an OLED evaluation agreement with Seiko Epson Corporation (TSE: 6724, "Epson"). Under the agreement, Universal Display will supply its proprietary phosphorescent OLED materials and technology to Epson for AR/VR (augmented reality/virtual reality) display applications. Details and financial terms of the agreement have not been disclosed.
“We are pleased to continue our partnership with Japanese panel maker Seiko Epson,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “Our mission is to enable our customers and the OLED industry with our highly-efficient, high-performing proprietary OLED technologies and UniversalPHOLED materials. We look forward to further collaborating with Epson as the proliferation of OLEDs is expected to broaden and grow in the consumer electronics landscape.”
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,500 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
Follow Universal Display Corporation
(OLED-C)
Universal Display:
Darice Liu
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+1 609-964-5123
RALEIGH, N.C.--(BUSINESS WIRE)--#RHSummit--Red Hat, the world's leading provider of open source solutions, today announced its ambition to achieve net-zero operational greenhouse gas (GHG) emissions by 2030 to address the global climate crisis.
Red Hat’s 2030 operational net-zero goal follows a science-aligned pathway to limit global warming to 1.5-degree Celsius above pre-industrial levels, and includes scope 1 and 2 emissions, and scope 3 emissions associated with Red Hat’s electricity consumption in third-party colocation data centers. The company has been through a rigorous exercise to develop an emissions accounting profile which establishes a baseline year of 2019.
“By creating a comprehensive roadmap that is built on our open hybrid cloud strategy and aligned to IBM’s overall climate goals, we will reduce the impact we have on the environment and preserve the planet for generations to come,” shared president and chief executive officer of Red Hat, Matt Hicks. “We all play a role in reducing our carbon footprint and this is just one of the many ways that Red Hat is doing our part.”
To achieve the net-zero goal by 2030 or sooner, Red Hat will:
To drive the continual improvement among suppliers and within its own value chain, Red Hat will:
To ensure transparency and accountability, Red Hat will document and publicly disclose its GHG emissions reduction journey through the company’s annual Community and Social Responsibility (CSR) report and company website. Red Hat’s 2019–2021 GHG emissions data is available in Red Hat’s 2021 CSR report. These goals align with IBM’s commitment to achieve net zero greenhouse gas emissions by 2030.
Additional Resources
Connect with Red Hat
About Red Hat, Inc.
Red Hat is the world’s leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future.
Forward-Looking Statements
Except for the historical information and discussions contained herein, statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially. Any forward-looking statement in this press release speaks only as of the date on which it is made. Except as required by law, the company assumes no obligation to update or revise any forward-looking statements.
Red Hat, Red Hat Enterprise Linux and the Red Hat logo are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries. Linux® is the registered trademark of Linus Torvalds in the U.S. and other countries.
Media Contact:
Allison Showalter
201-341-3942
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DALLAS--(BUSINESS WIRE)--HF Sinclair Corporation (NYSE: DINO) (“HF Sinclair”) and Holly Energy Partners, L.P. (NYSE: HEP) (“HEP”), plan to announce results for the quarter ending December 31, 2022 on February 24, 2023, before the opening of trading on the NYSE. HF Sinclair and HEP have scheduled a joint webcast conference on February 24, 2023 at 8:30 a.m. Eastern time to discuss financial results.
This webcast may be accessed at:
https://events.q4inc.com/attendee/250565072
An audio archive of this webcast will be available using the above noted link through March 10, 2023.
About HF Sinclair Corporation:
HF Sinclair Corporation, headquartered in Dallas, Texas, is an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. HF Sinclair supplies high-quality fuels to more than 1,300 Sinclair branded stations and licenses the use of the Sinclair brand at more than 300 additional locations throughout the country. In addition, subsidiaries of HF Sinclair produce and market base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and export products to more than 80 countries. Through its subsidiaries, HF Sinclair produces renewable diesel at two of its facilities in Wyoming and also at its facility in Artesia, New Mexico. HF Sinclair also owns a 47% limited partner interest and a non-economic general partner interest in Holly Energy Partners, L.P., a master limited partnership that provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HF Sinclair subsidiaries.
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HF Sinclair Corporation. HEP, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.
HF Sinclair Corporation
Craig Biery, 214-954-6510
Vice President, Investor Relations
or
Trey Schonter, 214-954-6510
Manager, Investor Relations
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) today announced the commencement of a registered, underwritten public offering of $400,000,000 in aggregate principal amount of senior unsecured notes due 2030. The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation, and will be guaranteed, with certain exceptions, by substantially all of our existing and future subsidiaries other than our unrestricted subsidiaries. We intend to use a portion of the net proceeds from the offering to fund the purchase price and accrued and unpaid interest for all of our 5.625% senior unsecured notes due 2024 that are validly tendered and accepted for payment in our concurrent tender offer and the redemption price and accrued and unpaid interest for any 5.625% senior unsecured notes due 2024 that remain outstanding after the completion or termination of our concurrent tender offer and the remainder for general partnership purposes, including repaying a portion of the borrowings outstanding under our credit facility.
Wells Fargo Securities, LLC is leading the offering along with several joint book-running managers and co-managers. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to this offering, when available, may be obtained from Wells Fargo Securities, LLC, 550 S. Tryon Street, 5th Floor, Charlotte, NC 28202, Email: This email address is being protected from spambots. You need JavaScript enabled to view it., Fax: (704) 410-4874 (with such fax to be confirmed by telephone to (704) 410-4885), Attention: Leveraged Syndicate.
You may also obtain these documents for free, when they are available, by visiting the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offer is being made only through the prospectus supplement and accompanying base prospectus, each of which is part of our effective shelf registration statement on Form S-3, as amended by Post-Effective Amendment No. 1, previously filed with the Securities and Exchange Commission.
This press release is not an offer to purchase any of the 5.625% senior unsecured notes due 2024 and does not constitute a notice of redemption under the indenture governing the 5.625% senior unsecured notes due 2024. The concurrent tender offer is being made only by and pursuant to the terms of an Offer to Purchase, dated January 18, 2023 and the related letter of transmittal.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
This press release includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, no assurance can be given that our goals will be achieved, including statements regarding our ability to successfully close the offering and to use the net proceeds as indicated above. Actual results may vary materially. We undertake no obligation to publicly update or revise any forward-looking statement.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
DALLAS--(BUSINESS WIRE)--Holly Energy Partners, L.P. (NYSE: HEP) (“HEP”) and HF Sinclair Corporation (NYSE: DINO) (“HF Sinclair”), plan to announce results for the quarter ending December 31, 2022 on February 24, 2023, before the opening of trading on the NYSE. HEP and HF Sinclair have scheduled a joint webcast conference on February 24, 2023 at 8:30 a.m. Eastern time to discuss financial results.
This webcast may be accessed at:
https://events.q4inc.com/attendee/250565072
An audio archive of this webcast will be available using the above noted link through March 10, 2023.
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HF Sinclair Corporation. HEP, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.
About HF Sinclair Corporation:
HF Sinclair Corporation, headquartered in Dallas, Texas, is an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. HF Sinclair supplies high-quality fuels to more than 1,300 Sinclair branded stations and licenses the use of the Sinclair brand at more than 300 additional locations throughout the country. In addition, subsidiaries of HF Sinclair produce and market base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and export products to more than 80 countries. Through its subsidiaries, HF Sinclair produces renewable diesel at two of its facilities in Wyoming and also at its facility in Artesia, New Mexico. HF Sinclair also owns a 47% limited partner interest and a non-economic general partner interest in Holly Energy Partners, L.P., a master limited partnership that provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HF Sinclair subsidiaries.
Holly Energy Partners, L.P.
Craig Biery, 214-954-6510
Vice President, Investor Relations
or
Trey Schonter, 214-954-6510
Manager, Investor Relations
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