HOUSTON--(BUSINESS WIRE)--BP Prudhoe Bay Royalty Trust (NYSE: BPT) announced that unitholders will receive a dividend for the quarter ended June 30, 2022. The dividend information is as follows:

As provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. The amount of revenue is determined by multiplying Royalty Production for each day in the calendar quarter by the Per Barrel Royalty for that day. Pursuant to the Trust Agreement, the Per Barrel Royalty for any day is the WTI Price for the day less the sum of (i) Chargeable Costs multiplied by the Cost Adjustment Factor and (ii) Production Taxes.

For the three months ended June 30, 2022, the Per Barrel Royalty was calculated based on the following information:

The average daily closing WTI price was above the “break-even” price for the quarter, resulting in a quarterly payment with respect to the Royalty Interest of $30,341,265 to the Trust, after the addition of $7,290 representing an underpayment to the Trust for quarter ended March 31, 2022. In accordance with the Trust Agreement, the Trustee will pay all accrued expenses of the Trust, then distribute the excess, if any, of the cash received by the Trust over the Trust’s expenses to unitholders. After paying the Trust’s expenses accrued through June 30, 2022, $30,065,952 is available for distribution to unitholders.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release are subject to a number of risks and uncertainties beyond the control of the Trustee. The actual results, performance and prospects of the Trust could differ materially from those expressed or implied by forward-looking statements. Descriptions of some of the risks that could affect the future performance of the Trust appear in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021, the Trust’s subsequent Quarterly Report on Form 10-Q, and the Trust’s other filings with the Securities and Exchange Commission. The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov. Neither the Trust nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release.

Elaina Rodgers
Vice President
The Bank of New York Mellon Trust Company, N.A.
713-483-6020

NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) today announced that it has signed an agreement with Petróleos Mexicanos (“Pemex”) to form a long-term strategic partnership that benefits from the complementary capabilities of each company. The partnership is expressly supported by His Excellency Andrés Manuel López Obrador, the President of Mexico, and by Octavio Romero Oropeza, the CEO of Pemex.

The agreement involves the joint development of the Lakach deepwater natural gas field for Pemex to supply natural gas to Mexico’s onshore domestic market and for NFE to produce LNG for export to global markets.

“We are honored to enter into this important strategic partnership that strengthens NFE’s commitment to long-term operations in Mexico and demonstrates the tremendous value of our integrated natural gas infrastructure business model,” said Wes Edens, Chairman and CEO of NFE. “This is the first of a number of offshore development opportunities that leverage what we think is an ideal formula for offshore gas assets around the world – one that combines gas for domestic use with gas for export. We appreciate the continued support of President López Obrador, admire his resolve to deliver reliable energy to the people of Mexico, and value the opportunity to partner with Pemex to enhance global energy security.”

Pursuant to the strategic alliance signed with Pemex, NFE will invest in the continued development of the Lakach field over a two-year period by completing seven offshore wells. In addition, NFE will deploy to the Lakach field a 1.4 MTPA FLNG unit to liquefy the majority of the produced natural gas. Remaining natural gas and associated condensate volumes would be utilized by Pemex in Mexico’s onshore domestic market. NFE and Pemex believe the Lakach field will yield approximately ten years of production, with the possibility of significantly extending the reserve life if nearby fields are developed.

Pemex discovered the Lakach deepwater natural gas field in 2007 and subsequently carried out significant exploration and development activities. Lakach is one of the largest non-associated gas fields in the Gulf of Mexico with total original gas in place of 1.1 trillion cubic feet (“Tcf”) and is located approximately 70 kilometers off the coast of Veracruz in southeastern Mexico. Coupled with nearby undeveloped fields Kunah and Piklis, the area has a total resource potential of 3.3 Tcf and comprises one of the most significant undeveloped offshore gas resources in the Western hemisphere.

The transactions described in this press release are subject to customary terms and conditions and finalization of related agreements.

Conference Call Details

Management will host a conference call today, Tuesday, July 5^th, at 10:30 A.M. Eastern Time. Participants who wish to join the live teleconference by phone must register in advance of the call at https://register.vevent.com/register/BI08b7e94e034e4767bd350e2a1af06d96.

A simultaneous webcast of the conference call will be available on a listen-only basis at https://edge.media-server.com/mmc/p/vh8i9zsn and will be available for replay within the Investors section of NFE’s company website www.newfortressenergy.com.

Please allow time prior to the call to visit the relevant website, follow registration procedures and download any necessary software required to listen to the internet broadcast.

About New Fortress Energy

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure, ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations seek to support global energy security, enable economic growth, enhance environmental stewardship, and transform local industries and communities around the world.

Cautionary Language Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. Forward looking statements include: expectations related to the joint development of the Lakach deepwater natural gas field to produce and supply natural gas to customers; the benefits related to the structure of the joint development; NFE’s investment in the development of the Lakach field, including completion of seven offshore wells and deployment of FLNG units; expected yields and reserves of the Lakash field; and total resource potential expectations of area; and expected terms of the definitive agreements for the transactions and projects. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the parties or the stock prices of such parties.

These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are necessarily estimates based upon current information and are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the risk that the proposed transactions may not be completed in a timely manner or at all; risks related to the approval and execution of definitive documentation; the ability of strategic partnerships to implement business plan and to realize anticipated efficiencies and benefits; risks related to the development, construction, completion or commissioning schedule for the facilities; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; we will be unable to operationalize our plans for the projects; unknown and unforeseen risks associated with the development of new technologies such as the “FLNG” technology, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, regulatory and legal challenges, instability or clarity of application of laws, and rules and regulations to the technology, among others; risks related to liquefaction operations and production of natural gas and LNG; breach or failure by the parties to comply with the covenants and obligations under the related agreements; risks related to the implementation of our mission and business strategy; the gas reserves may not be as extensive as we expect; and that we will not be able to provide natural gas to customers as we currently expect. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company 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 the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our annual report, quarterly and other reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement. We undertake no duty to update these forward-looking statements, even though our situation may change in the future.

Investors:
Brett Magill
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media:
Jake Suski
(516) 268-7403
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--CenterPoint Energy, Inc. (NYSE: CNP) or “CenterPoint” today announced it has achieved the final milestone in realigning its corporate structure after its acquisition of Vectren Corporation in 2019 to fund future capital investments more efficiently and better align with the company’s management and financial reporting. Included in the transaction was a successful exchange of $302 million Vectren Utility Holdings, Inc. (VUHI) private placement notes for new private placements notes issued by CenterPoint Energy Resources Corp. (CERC).

The exchange permitted the transfer of Indiana Gas Company and Vectren Electric Delivery of Ohio to CERC, thereby consolidating CenterPoint’s natural gas distribution businesses, with the exception of Southern Indiana Gas and Electric Company (SIGECO), under one subsidiary. As a result, those entities will be financed through CERC going forward. The greater scale and stronger credit profile of CERC should benefit our customers through lower future financing costs on an ongoing basis, resulting in anticipated customer savings over the long term.

In addition, the exchange is a step on the path to enabling SIGECO to securitize costs related to the planned retirement of coal facilities by removing certain restrictive covenants previously contained in the VUHI private placement notes. The securitization supports generation transition capital investment plans and should result in a decrease of the associated retirement costs of those assets by up to $60 million (as of the filing date of the application for the financing order to securitize such costs), when compared to traditional rate making, thereby benefitting SIGECO’s customers.

“We are excited to complete this strategic transaction, which will allow us to more efficiently finance our natural gas system improvements at CERC and our generation transition investments at SIGECO through the public debt markets in the future, thereby reducing the reliance on parent debt and intercompany borrowings,” said EVP and Chief Financial Officer Jason Wells.

Wells continued, “The reduction of parent debt and intercompany borrowings is another step of delivering on our long-term growth plan and delivering value for our customers and investors.”

CenterPoint completed the restructuring on June 30, 2022.

About CenterPoint Energy, Inc.

As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of March 31, 2022, the company owned approximately $35 billion in assets. With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Forward-looking Statements

This news release includes, and the earnings conference call will include, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. Examples of forward-looking statements in this news release include statements regarding financing CERC, Indiana Gas Company, Vectren Energy Delivery of Ohio, and Southern Indiana Gas and Electric Company, lower future financing costs, anticipated customer savings, securitization related to our generation transition plans and related customer savings, and reduction in parent company debt and reliance on intercompany borrowings. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements.

Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include, but are not limited to, risks and uncertainties relating to: (1) CenterPoint Energy’s potential business strategies and strategic initiatives, restructurings, joint ventures and acquisitions or dispositions of assets or businesses, including the completed sale of our Natural Gas businesses in Arkansas and Oklahoma, exit from midstream and transfer of Indiana Gas Company and Vectren Energy Delivery of Ohio to CERC, which we cannot assure you will have the anticipated benefits to us; (2) industrial, commercial and residential growth in CenterPoint Energy’s service territories and changes in market demand; (3) CenterPoint Energy's ability to fund and invest planned capital, and timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment, including those related to Indiana Electric’s generation transition plan as part of its more recent IRP; (4) financial market and general economic conditions, including access to debt and equity capital and the effect on sales, prices and costs; (5) continued disruptions to the global supply chain and increases in commodity prices; (6) actions by credit rating agencies, including any potential downgrades to credit ratings; (7) the timing and impact of regulatory proceedings and actions and legal proceedings, including those related to Houston Electric’s mobile generation; (8) legislative decisions, including tax and developments related to the environment such as global climate change, air emissions, carbon, waste water discharges and the handling of coal combustion residuals, among others, and CenterPoint Energy’s Net Zero and carbon emissions reduction goals; (9) the impact of the COVID-19 pandemic; (10) the recording of impairment charges; (11) weather variations and CenterPoint Energy’s ability to mitigate weather impacts, including impacts from the February 2021 winter storm event; (12) changes in business plans; (13) CenterPoint Energy’s ability to execute on its initiatives, targets and goals, including its Net Zero and carbon emissions reduction goals and operations and maintenance goals; and (14) other factors discussed CenterPoint Energy’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and CenterPoint Energy’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, including in the “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Information” sections of such reports, and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

Media:
Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors:
Jackie Richert / Ben Vallejo
Phone 713.207.6500 / 713.207.5461

NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) today announced that it has entered into an agreement with Comisión Federal de Electricidad (“CFE”) as part of a growing strategic alliance supported by His Excellency Andrés Manuel López Obrador, the President of Mexico, and by Manuel Bartlett, the CEO of CFE.

The agreement involves (i) expanding and extending NFE’s supply of natural gas to multiple CFE power generation facilities in Baja California Sur, (ii) selling NFE’s 135 MW La Paz power plant to CFE, and (iii) creating a new LNG hub off the coast of Altamira, Tamaulipas, with CFE supplying the requisite feedgas to two NFE FLNG units using CFE’s existing pipeline capacity.

“We are pleased to expand our strategic alliance with CFE, which will enhance clean energy security for Mexico and enable the construction of a new LNG hub off the coast of Altamira,” said Wes Edens, Chairman and CEO of NFE. “We appreciate the continued support of President López Obrador and value the opportunity to demonstrate our commitment to producing cleaner, cheaper energy for Mexico and the world.”

Baja California Sur

In July 2021, NFE commenced commercial operations of an LNG regasification terminal in the port of Pichilingue, La Paz, Baja California Sur. The terminal, which features NFE’s proprietary ISOFlex system, is optimally positioned to supply natural gas to CFE’s generation facilities in the otherwise resource-stranded region, which include CTG La Paz and CTG Baja California Sur.

Pursuant to the agreement announced today, CFE and NFE will extend the term of NFE’s gas supply agreement to CFE’s power generation facilities in the region and increase the volume of delivered natural gas under mutually agreeable terms. Additionally, NFE has agreed to sell its own 135 MW power plant in La Paz to CFE. The addition of this power plant to CFE’s generation fleet is expected to enhance system reliability, reduce power costs, and complement steps CFE is taking to expand the use of renewable energy resources and lower emissions in the region.

Altamira

NFE and CFE plan to collaborate on the creation of a new LNG hub off the coast of Altamira, Tamaulipas. Pursuant to the agreement announced today, NFE will deploy multiple FLNG units of 1.4 MTPA each that utilize CFE’s existing firm pipeline transportation capacity to deliver feedgas volumes to NFE. As part of the agreement announced today, CFE would share in the production and marketing of a portion of the LNG volumes from the new Altamira offshore LNG hub.

The transactions described in this press release are subject to customary terms and conditions and finalization of related agreements.

Conference Call Details

Management will host a conference call today, Tuesday, July 5^th, at 10:30 A.M. Eastern Time. Participants who wish to join the live teleconference by phone must register in advance of the call at https://register.vevent.com/register/BI08b7e94e034e4767bd350e2a1af06d96.

A simultaneous webcast of the conference call will be available on a listen-only basis at https://edge.media-server.com/mmc/p/vh8i9zsn and will be available for replay within the Investors section of NFE’s company website www.newfortressenergy.com.

Please allow time prior to the call to visit the relevant website, follow registration procedures and download any necessary software required to listen to the internet broadcast.

About New Fortress Energy

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure, ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations seek to support global energy security, enable economic growth, enhance environmental stewardship, and transform local industries and communities around the world.

Cautionary Language Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. Forward looking statements include: terms of the definitive agreements for the transactions and projects; the ability of the strategic alliance to enhance clean energy security for Mexico; expectations related to construction of a new LNG hub; supply of natural gas by the La Paz terminal to the region; the terms of the extension and modifications to the gas supply agreement with CFE; consummation of the sale of the La Paz power plant to CFE and benefits to be derived from such sale by the parties; development and operation of a new Altamira LNG hub and anticipated benefits; and expected dates for completion of the projects. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the parties or the stock prices of such parties.

These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are necessarily estimates based upon current information and are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the risk that the proposed transactions may not be completed in a timely manner or at all; risks related to the approval and execution of definitive documentation; risks related to the development, construction, completion or commissioning schedule for the facilities; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; we will be unable to operationalize our plans for the projects; unknown and unforeseen risks associated with the development of new technologies such as the “FLNG” technology, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, regulatory and legal challenges, instability or clarity of application of laws, and rules and regulations to the technology, among others; risks related to liquefaction operations and production of natural gas and LNG; breach or failure by the parties to comply with the covenants and obligations under the related agreements; risks related to the implementation of our mission and business strategy; common risks related to the sale and purchase of businesses or assets, including the risk of valuation and successful implementation, and the risks that we may not be able to realize the benefits of any such transactions, among others; and that we will not be able to provide natural gas to customers as we currently expect. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company 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 the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our annual report, quarterly and other reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement. We undertake no duty to update these forward-looking statements, even though our situation may change in the future.

Investors:
Brett Magill
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media:
Jake Suski
(516) 268-7403
This email address is being protected from spambots. You need JavaScript enabled to view it.

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced a heavy civil project valued at more than $170 million. The project, secured by the Company’s Energy/Renewables Segment, was awarded by the Texas Department of Transportation.

The project involves construction of a section of Highway 59 in Polk County, Texas. It is scheduled to commence in the third quarter of 2022 with completion expected in the fourth quarter of 2024.

“This project is another example of how we deliver infrastructure essential to America’s future,” said Tom McCormick, President and Chief Executive Officer of Primoris.

ABOUT PRIMORIS

Primoris Services Corporation is a leading specialty contractor providing critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The Company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, electrical transmission and distribution systems and communications infrastructure have also increased the Company’s potential for long-term growth. Additional information on Primoris is available at www.primoriscorp.com.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including the Company’s future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “intends”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “will”, “would” or similar expressions. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of regulation and the economy, generally. Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results may differ materially as a result of a number of factors, including, among other things, the risks described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2021, and our other filings with the U.S. Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Jeremy Apple
312-690-6003
This email address is being protected from spambots. You need JavaScript enabled to view it.
This email address is being protected from spambots. You need JavaScript enabled to view it.

PARIS--(BUSINESS WIRE)--#CarrierRecognitionProgram--Shippeo, a leading provider of global and multimodal shipment visibility, has launched a new program recognizing and rewarding carriers who champion supply chain visibility. Accompanying the launch are a raft of enhancements to its automated carrier onboarding solution, which now offers the easiest and fastest visibility platform integration for carriers on the market.

“Over 150,000 carriers are already connected to Shippeo’s Multimodal Visibility Network, supplying high-quality real-time shipment data to shippers and logistics service providers all over the world,” says Head of Carrier Network, Alexandru Mihailenco. “Real-time visibility of supply chain transport has become increasingly sought after by companies since the beginning of 2020. The carrier community plays such a pivotal role in shaping the future of transportation visibility, and determining how accurate and reliable shipment visibility data is for shippers, logistics service providers, and their end customers.”

Shippeo’s Carrier Network team has a mission to help each carrier they work with capitalize on all the benefits Shippeo’s visibility platform brings, from improved productivity to market differentiation. “We’ve established our Carrier Recognition Program™ to recognize and reward carriers who are engaged and committed to providing shippers with exceptional levels of supply chain visibility, via Shippeo’s real-time and multimodal transportation visibility platform,” explains Mihailenco.

The program includes publication of the Visibility Champion List™, which acknowledges exceptional carriers providing the best service to shippers with consistently high levels of shipment tracking, offering carriers another way to stand out from their peers. It’s the first of many initiatives planned to recognize carrier partners, including a special carrier-focused awards ceremony coming later this year.

Shippeo has also released a new version of its Onboarding Automation Center, the company’s market-leading solution simplifying and accelerating carrier onboarding to its visibility network. The enhanced application now gives carriers the option of full autonomy when setting up and configuring their connection to the platform.

“Our customers and their carrier partners tell us that our onboarding experience is second to none, having achieved a 98% carrier onboarding satisfaction rate,” says Lucien Besse, Chief Operating Officer at Shippeo. “These latest enhancements to our Onboarding Automation Center represent another leap forward, making integrations with the Shippeo platform even easier to follow for carriers. In turn, we’re able to help our customers fast-track the time to value for their visibility project, reaching higher tracking rates for shipments sooner, and in turn more accurate and reliable shipment statuses and ETA data that Shippeo is known for.”

More information

About Shippeo

Shippeo is a global leader in real-time multimodal transportation visibility, helping major shippers and logistics service providers operate more collaborative, automated, sustainable, profitable, and customer-centric supply chains. This is made possible with highly accurate, real-time operational visibility and perfect workflow orchestration. Their Multimodal Visibility Network integrates with more than 875 TMS, telematics and ELD systems, enabling Shippeo’s platform to provide instant access to real-time shipment tracking across all transport modes, in a single portal, through an intuitive user experience. A proprietary and industry-leading machine learning algorithm offers unmatched ETA accuracy, allowing supply chain companies to quickly anticipate problems, proactively alert customers, efficiently manage exceptions with collaborative workflows, and accurately measure CO2 and GHG emissions from supply chain transport. Hundreds of customers, including global brands like Coca-Cola HBC, Carrefour, Renault Group, Schneider Electric, Total, Faurecia, Saint-Gobain and Eckes Granini, trust Shippeo to track more than 28 million shipments per year across 75 countries. Learn more at www.shippeo.com.

LinkedIn, Facebook, Twitter

Céline BONNIOT
Head of Field Marketing
Email – This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone – +33 (0)6 86 92 95 16

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced that Tom McCormick, President and Chief Executive Officer, and Ken Dodgen, Chief Financial Officer, will participate in the CJS Securities 22^nd Annual New Ideas Summer Conference on Tuesday, July 12, 2022.

A copy of the Company’s presentation will be posted to the Company’s Investor Relations section of its website, www.primoriscorp.com, before the opening of trading on the NASDAQ on the same day.

ABOUT PRIMORIS

Primoris Services Corporation is a leading provider of specialty contracting and critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The Company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, electrical transmission and distribution systems and communications infrastructure have also increased the Company’s potential for long-term growth. Additional information on Primoris is available at www.primoriscorp.com.

Jeremy Apple
312-690-6003
This email address is being protected from spambots. You need JavaScript enabled to view it.

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

VANCOUVER, British Columbia & LONDON--(BUSINESS WIRE)--$LPEN--Loop Energy^TM (TSX: LPEN) has signed a multi-year fuel cell supply agreement with Tevva Motors Ltd (Tevva), which includes delivery commitments in excess of US$12 million thru 2023. As a result of the agreement, which extends through to 2024, Tevva becomes the first customer to move into the Full Production Phase of Loop Energy’s Customer Adoption Cycle. Details to join the analyst conference call on July 5 are at the end of release.

Tevva will integrate Loop Energy’s fuel cell systems into its manufacturing process as it scales production of its Hydrogen-Electric Trucks to meet demand in 2023. The two companies’ relationship continues to gain momentum after Loop Energy’s eFlow^TM technology won the competitive tender process in 2021, which resulted in Tevva placing initial orders.

Building upon Tevva’s orders for 2022, the significant surge in order volume in 2023 increases Loop Energy’s confidence that it will meet and exceed its previous purchase order guidance. The growth in order volume indicates the commercial mobility sector’s willingness to adopt hydrogen fuel cell technology as a zero-emissions solution.

“The market for zero-emissions commercial vehicles continues to develop quickly, and this supply agreement with Tevva puts Loop Energy on the path to not only technology leadership, but fuel cell market leadership,” Loop Energy President & CEO, Ben Nyland said. “This is amongst the largest fuel cell product supply agreements in recent years. The contract with Tevva is indicative of the surge in interest we see in Europe for hydrogen-electric vehicles and the fuel cells that power them. Tevva is quickly establishing itself as a leader in the zero-emission commercial vehicle market in Europe, and we are looking forward to providing the fuel cell systems they need to succeed.”

”Development of our Hydrogen-Electric Truck platform has been extremely encouraging, and we are seeing growing demand for our product line,” Tevva Founder & CEO, Asher Bennett said. ”Loop Energy continues to show it can support our production targets and provide a fuel cell solution that will deliver lower costs and improved performance to our customers. As a result, we are moving closer to our corporate goal of reducing 10 million tonnes of global transportation CO2 emissions by 2030.”

Tevva unveiled its first Hydrogen-Electric Truck alongside Loop Energy at the Road Transport Expo in Warwickshire, UK, on Thursday, June 30. It is anticipated that the first of the trucks will be on the road in 2022. Once deployed, the trucks are expected to rapidly add to the 500,000 kilometres of on-road service Loop Energy’s fuel cells have already powered.

Loop Energy will host an analyst conference call on Tuesday, July 5, at 7:00 am PT (10:00 am ET) to discuss the supply agreement. To attend, please dial 1-877-704-4453 (toll-free) or 1-201-389-0920 (international). A replay of the call will be available for 2 weeks following the call by dialing 1-844-512-2921 (toll-free) or 1-412-317-6671 (international) and entering replay pin 13731384.

About Tevva Motors Ltd.

Tevva is a British electric and hydrogen truck pioneer. Tevva designs and manufactures zero-emission medium-duty trucks with a revolutionary combination of battery electric and hydrogen fuel-cell range extender technology. Tevva trucks are built to revitalize urban freight and logistics – optimising range, cost, driver experience, and environmental impact. Tevva trucks are already on the road and have accrued hundreds of thousands of miles in customer hands. For more information, please visit https://www.tevva.com.

About Loop Energy Inc.

Loop Energy is a leading designer and manufacturer of fuel cell systems targeted at the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ is designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.

About Loop Energy’s Customer Adoption Cycle

The Customer Adoption Cycle ensures Loop Energy supports its customers and partners who are committed to scaling the production of hydrogen-electric vehicles and power applications. Loop Energy’s customer-centric approach includes three phases which support customers in commercializing their products and generates short-and long-term demand for Loop Energy’s fuel cells. The three phases include:

Pilot Phase: Focuses on early-stage prototyping and integration for design, testing and certification.

Scale-Up Phase: Prioritizes increasing production and deploying a limited number of applications for operational use.

Full Production Phase: Involves the commercial rollout of hydrogen-electric product offerings to fleet operators and end-users.

Forward Looking Warning

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations and projections regarding future events. Particularly, statements regarding the Company’s expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information, including without limitation the delivery commitments, Tevva’s progression to the Full Production Phase of Loop Energy’s Customer Adoption Cycle, the integration of Loop Energy’s fuel cell systems into Tevva’s manufacturing process, deployment of trucks taking place in 2022 and the expectations of Tevva’s performance and growth plans.

Forward-looking information is based on a number of assumptions (including without limitation assumptions with respect the current and future performance of, and growth in demand for, our products and Tevva’s products) and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward‐looking information. Such risks and uncertainties include, but are not limited to, our ability and the ability of Tevva to execute on our respective strategies and growth plans, the realization of electrification of transportation, the elimination of diesel fuel and ongoing government support of such developments, the expected growth in demand for fuel cells for the commercial transportation market and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 23, 2022. Loop disclaims any obligation to update these forward-looking statements.

Investor Inquiries:
Investor Relations | Tel: +1 604.222.3400 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Laine Yonker | Tel: +1 646.653.7035 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Business Inquiries:
George Rubin | Tel: +1.604.828.8185 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Europe: Luigi Fusi | Tel: +39.028457.3048 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Inquiries:
Lucas Schmidt | Tel: +1.604.222.3400 Ext. 603 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Ian Silvera Tel: +44 (0) 7703 846 164 | This email address is being protected from spambots. You need JavaScript enabled to view it.

** Evolito supplies high-power density, light-weight electric motors and controllers for electric aerospace applications **
** Evolito was spun out in 2021 by electric motor and controller pioneer YASA (now a wholly owned subsidiary of Mercedes-Benz) **

OXFORD, England--(BUSINESS WIRE)--#UAM--Evolito, a privately-owned company designing and manufacturing world-leading electric motors and controllers for aerospace applications, has today announced the acquisition of the business and assets of Cheltenham-based aerospace battery solutions company Electroflight.

Evolito supplies high-performance, low-weight axial-flux motors and controllers that are smaller, lighter and with a higher safety factor than any other competing electric propulsion technology. Evolito’s products enable a range of new electric propulsion applications, helping to accelerate the industry’s move towards net zero.

Electroflight has a proven track record of delivering safety critical, innovative battery solutions for the electrification of the aerospace industry. Following the acquisition, Electroflight will become a wholly-owned subsidiary of Evolito and will focus on delivering next-generation battery technology to complement Evolito’s unique motors and controllers.

Ajay Lukha, Chief Commercial Officer at Evolito, said, “We are very excited to complete the acquisition of Electroflight today. The combined capabilities will enable us to deliver flexible solutions for our customers, from best-in-class motor and controller subsystems to fully-integrated electric powertrains.”

To find out more about Evolito, watch this video.

EDITOR’S NOTES

Evolito http://www.evolito.aero

Evolito is making all-electric flight a reality by offering world-leading geared and direct-drive electric propulsion and battery solutions. Spun out of YASA in 2021, Evolito leverages technology proven at scale by OEMs in the automotive EV industry. The privately-held company is based in Oxford. Evolito’s investors include B-Flexion and Oxford Science Enterprises (OSE).

Cat Lenheim
ThoughtLDR
This email address is being protected from spambots. You need JavaScript enabled to view it.
+44 7511 117587

DUBLIN--(BUSINESS WIRE)--Power management company Eaton (NYSE:ETN) today announced it has completed the acquisition of a 50% stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd. (Huineng), which manufactures and markets low-voltage circuit breakers in China.

“This strategic relationship marks an important milestone in Eaton’s growth strategy,” said Howard Liu, president, Asia-Pacific Region, Electrical Sector, Eaton. “The combination of application-tailored products with our global distribution channels positions us to capitalize on opportunities in high-growth market segments such as renewable energy, grid modernization, commercial buildings and industrial.”

Jiangsu Huineng Electric Co., Ltd. is a Chinese high-tech electrical equipment manufacturer. Founded in 2007 and headquartered in Zhenjiang, China, its products are widely used and recognized across key markets including wind and solar and power plants.

Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.

Founded in 1911, Eaton has been listed on the NYSE for nearly a century. We reported revenues of $19.6 billion in 2021 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.

Jennifer Tolhurst, +1 (440) 523-4006
This email address is being protected from spambots. You need JavaScript enabled to view it.

PRAGUE & ROZTOKY, Czech Republic--(BUSINESS WIRE)--#energystorage--Intelligent power management company Eaton today announced its involvement in a pan-European research and innovation project to deliver the integrated technologies and business models needed to support mass deployment of electric vehicle charging infrastructure.

Supported by the European Union’s Horizon Europe Research and Innovation program, the €9.87M ($10.41M) project will span four years to March 2026, its scope covering the entire electric vehicle charging value chain. The FLOW project consortium, which includes 24 external partners and six leading universities across Europe, will be led by the Fundació Institut De Recerca En Energia De Catalunya.

Eaton’s role in the consortium will involve further developing electric vehicle charging technologies, as well as demonstrating electric vehicle charging solutions, based on experience advancing its Buildings as a Grid approach to uniting the power needs of buildings and electric vehicles with on-site renewable energy generation.

The research and innovation focus will extend across vehicle-to-grid (V2G) and vehicle-to-everything (V2X) capabilities that enable more system flexibility; DC-DC charging (direct current to direct current) that yields both power quality and control benefits; and further work on Eaton’s proprietary Buildings as a Grid Energy Management System that supports forecasting, optimization, and other essential services. To combine the various technologies into a complete solution, several Eaton business units will collaborate on the project—including the pan-European Eaton Research Labs team and the Eaton Center for Intelligent Power in Dublin, Ireland.

Stefan Costea, regional technology manager, Eaton Research Labs, said: “As electric vehicles grow in popularity across Europe, a comprehensive range of fully integrated charging technologies is urgently needed to support mass deployment and enable valuable new services. As a key partner in the FLOW project, we’re thrilled to be developing optimal solutions for electric vehicle charging, V2G, V2X, and energy management. We will demonstrate these technologies at three test labs—at the Eaton European Innovation Center in Prague, at University College Dublin, and at the Fundació Institut De Recerca En Energia De Catalunya, in Barcelona. Additionally, we will be supporting large scale technology demonstrations in Rome and Copenhagen with our energy management systems.”

For the demonstrations in Prague and Barcelona, Eaton will be collaborating closely with Heliox, a market leader in fast charging solutions. University College Dublin and nearby Maynooth University will work with Eaton in Ireland, while RWTH Aachen University, in Germany, will partner with Eaton in Prague on a techno-economic analysis of electric vehicle charging infrastructure use cases. In Rome and Copenhagen, Eaton will collaborate on energy management system interoperability with companies well-known for transmission and distribution: ENEL, Terna, and Areti, in addition to partners at Ricerca Sul Sistema Energetico and the Technical University of Denmark.

Tim Darkes, President, Corporate and Electrical, EMEA, Eaton, explained the context for Eaton’s involvement in the FLOW consortium, saying: “Our work on integrating charging infrastructure into buildings is supporting the rapid move to electric vehicles as part of the energy transition and we’re very proud to be investing heavily in the people, technologies, and programs to accelerate the global drive towards a low-carbon future.”

Jörgen von Bodenhausen, senior manager, Government Programs, Eaton, also added: “We continually seek out opportunities to combine our global scale and expertise with that of world-class industrial and academic partners, thus magnifying our own innovation efforts. From building-in energy management, to DC-DC charging, our work on the FLOW project will help pioneer new solutions to accelerate the commercialization and mass deployment of electric vehicle charging infrastructure and create whole new value propositions for both companies and customers.”

About Eaton

Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.

Founded in 1911, Eaton has been listed on the NYSE for nearly a century. We reported revenues of $19.6 billion in 2021 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.

###

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

Expanded decommissioning presence represents significant step for Helix’s Energy Transition business model

HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) announced today its successful completion of the previously announced acquisition of all of the equity interests of the Alliance group of companies (collectively “Alliance”), expanding its decommissioning presence in the Gulf of Mexico shelf and advancing Helix’s environmental, social and governance (“ESG”) initiatives by responsibly supporting end-of-life requirements of oil and gas projects.

Owen Kratz, President and Chief Executive Officer of Helix, stated, “We are pleased to have completed our acquisition and added Alliance to the Helix family, which complements Helix’s existing deepwater abandonment offerings by adding shelf and facility abandonment capabilities and significantly enhances our position as a full-field abandonment services provider. The acquisition marks a meaningful step in our participation in the Energy Transition, and we are excited to welcome our new colleagues to the Helix family.”

Helix also announced today that in conjunction with its acquisition of Alliance, it has amended its existing asset-based revolving credit facility (“ABL Facility”). The amendment aligns with Helix’s Alliance acquisition, expanding the eligible credit line and establishing a link in its pricing to sustainability targets. The key features of the amendment include:

• Increase of the size of the ABL Facility to $100 million; and
• Inclusion of ESG/sustainability-linked performance targets that may result in adjustments to commitment and borrowing rates.

Mr. Kratz continued, “We have increased the size of our ABL Facility to accommodate the increase in our expected borrowing base with the Alliance acquisition. We are also pleased to have included a sustainability-linked performance target that may reduce our fees under the facility and we are appreciative of the support from our bank group in this amendment.”

Bank of America, N.A. serves as Administrative Agent for the ABL facility.

Additional information on the Alliance acquisition and the amendment to the ABL facility is available in the Current Report on Form 8-K filed by Helix with the Securities and Exchange Commission (“SEC”) on July 1, 2022.

About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. For more information about Helix, please visit www.helixesg.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding the Alliance acquisition, the COVID-19 pandemic and oil price volatility and their respective effects and results, protocols and plans, current work continuing, the spot market, spending and cost reduction plans and the ability to manage changes; strategy; any statements regarding visibility and future utilization; any projections of financial items; any statements regarding future operations expenditures; any statements regarding plans, strategies and objectives for future operations; any statements regarding the ability to enter into, renew and/or perform commercial contracts; any statements concerning developments; any statements regarding ESG initiatives; any statements regarding future economic conditions or performance; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the results and effects of the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; the ability to secure and realize backlog; the effectiveness of ESG initiatives and disclosures; human capital management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in reports filed with the SEC, including those most recently filed Annual Report on Form 10-K and in other filings with the SEC, which are available free of charge on the SEC’s website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law.

Helix Energy Solutions Group, Inc.
Erik Staffeldt, Executive Vice President and CFO
email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Ph: 281-618-0400

DUBLIN--(BUSINESS WIRE)--The "Innovations in Remotely Operated Vehicles, Methane Pyrolysis, Frac Plugs, Acoustic Imaging, and Advanced Digital Solutions in the Oil & Gas Industry" report has been added to ResearchAndMarkets.com's offering.

This edition of the Oil & Gas TOE features information on the use of non-intrusive ultrasonic flow sensors in well heads, pipes and tanks providing real-time data to improve oil production.

The TOE covers innovations based on the deployment of remotely operated vehicles to mitigate risks and optimize performance during oil and gas exploration and production activities. The TOE additionally provides insights on the deployment of cost-effective methane pyrolysis technology for producing hydrogen and carbon black from natural gas.

The TOE also provides latest innovations in the use of frac plugs made of composite materials to improve multistage well simulations while reducing drill times. The TOE finally provides intelligence on use of cloud-based software platforms for autonomous operations and monitoring of oil and gas assets, use of high resolution acoustic imaging for downhole diagnostics, and the use of predictive digital twins for oil and gas asset integrity management.

The Oil and Gas TOE provides intelligence on innovations pertaining to technologies, products, and processes, along with strategic insights, in the upstream and downstream processes in the oil and gas industry.

Innovations in Remotely Operated Vehicles, Methane Pyrolysis, and Frac Plugs in the Oil & Gas Industry

• Testing Fluid Balance in the Wellhead, Pipe, and Tank With High Accuracy to Provide Ample Data for Efficient Oil Production
• Easy-To-Install and Cost-Effective Operation Monitoring System Minimizes Operational Cost
• Carbic Inc.- Investor Dashboard
• Remotely Operated Vehicles to Mitigate Risks and to Optimize Performance of Oil Field Companies
• Customized Platform Service Enables Multiple Tooling Solutions, Reducing Operational Cost
• Rovop-Investor Dashboard
• Cost-Effective Methane Pyrolysis Technology for the Production of Hydrogen and Carbon Black
• Value Proposition of Methane Pyrolysis
• Monolith Materials Inc. - Investor Dashboard
• Dissolvable Frac Plug With Improved Design for Multistage Well Simulations
• Value Proposition of VaprT- Eliminating Need for Drilling
• Nov Inc.-Investor Dashboard
• All Composite Frac Plug for Fast Drill Time
• Value Proposition of Metal-Free Frac Plugs
• Innovex Downhole Solutions Inc.-Investor Dashboard
• Cloud-Based Well Planning and Construction Suite for Cost-Effective and Autonomous Oil & Gas Operations
• Value Proposition of Oliasoft As
• Oliasoft As-Investor Dashboard
• High Resolution Acoustic Imaging for Downhole Diagnostics
• Value Proposition of Darkvision Technologies Inc.
• Darkvision Technologies Inc.-Investor Dashboard
• Cloud-Based Intelligent Visual Monitoring Platform for Oil & Gas Sector
• Value Proposition of Cloud-Based Intelligent Visual Monitoring Platform
• Osperity Inc.-Investor Dashboard
• Photocatalyst-Based Reactors for Commodity Chemicals Production
• Value Proposition of Photocatalyst-Based Chemical Reactors Powered by Light
• Syzygy Plasmonics-Investor Dashboard
• Predictive Digital Twin Analytics for Oil & Gas Asset Integrity Management Services
• Value Proposition of Predictive Digital Twin Analytics for Oil & Gas Asset Integrity Management Services
• Phdsoft Technology-Investor Dashboard
• Low-Code Data Processing Platforms for the Oil & Gas Industry
• Value Proposition of Low-Code Data Processing Platforms for the Oil & Gas Industry
• Energysys Limited-Investor Dashboard
• Smart It-Based Platform to Assist Engineering Services in Oil & Gas
• Value Proposition of Smart It-Based Platform
• Rolta India Limited-Investor Dashboard

For more information about this report visit https://www.researchandmarkets.com/r/e9ukvb

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Completed Strategic Acquisition of Sundance Energy
Updated 2022 Production and Capital Guidance
FY22 Oil Production to Increase Over 100% Year-Over-Year
Preliminary 2023 Guidance; Targeting 63,000 Boe/d
Projected 2023 Free Cash Flow Yield of 40%

HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today that it has closed its previously announced acquisition of substantially all of the oil and gas assets from Sundance Energy, Inc. and certain affiliated entities, (collectively, “Sundance"). Total purchase consideration due to Sundance, subject to customary closing adjustments, was comprised of approximately $225 million in cash and 4.1 million shares of SilverBow’s common stock. The cash portion of the purchase was funded with cash on hand and borrowings under the Company's revolving credit facility. Further, SilverBow updated its outlook to adjust for the recent closings of both the Sundance acquisition and the acquisition of the assets of the oil and gas assets of SandPoint Operating, LLC, a subsidiary of SandPoint Resources, LLC, (collectively, “SandPoint") on May 10, 2022. Additionally, the Company has provided its oil and gas hedged volumes as of the end of the second quarter of 2022.

MANAGEMENT COMMENTS

Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “The successful closing of this acquisition provides a step-change to SilverBow’s production base, drilling inventory and cash flow profile. Our June production rate is set to increase by over 25% to over 58,000 Boe/d by year-end, driven by the combination of acquired production and the increase to our capital program by adding a second rig. Our multi-year growth profile is significant, as we estimate we will grow annual production 30% or more in both 2022 and 2023. Our increased scale is supported by over 600 high-return locations, providing over a decade of drilling inventory at a two-rig pace and operating cash flows that fund our development plan at a re-investment rate of approximately 60%.”

Mr. Woolverton commented further, “Our balanced portfolio strategy provides us with optionality to allocate capital to projects depending upon prevailing commodity prices. With the current high oil and gas price environment, our plan is to dedicate one rig towards liquids development and one rig towards gas development for the near-term. Full year 2022 oil production is expected to increase over 100% year-over-year with nearly 50% of revenue coming from oil by year-end. Looking ahead, our preliminary 2023 outlook forecasts approximately $250 million in free cash flow, representing a 40% free cash flow yield. We expect to track toward 1.0x leverage and below while simultaneously pursuing our growth strategy.”

2022 GUIDANCE

The updated 2022 guidance is provided in the table below and shown comparatively to the SilverBow guidance provided earlier this year when the Company announced its 2022 budget.

SilverBow estimates its average daily production for the second quarter of 2022 to be 236 to 238 million cubic feet of gas equivalent (“MMcfe/d”) (~78% gas) which includes 51 days of production from the SandPoint assets. SilverBow expects to exit December producing approximately 350 MMcfe/d, which represents a 25% increase compared to the Company’s average daily production for the month of June.

Effective with the Sundance acquisition, SilverBow is running two drilling rigs. One rig is dedicated to developing the Company’s oily acreage and the other rig is primarily focused on SilverBow’s gas portfolio. The Company’s expects to invest nearly $90 to $110 million in the third quarter of 2022 and deliver total production of 293 to 308 MMcfe/d (68% gas).

SilverBow anticipates 2022 capital expenditures of $300 to $330 million to deliver total production between 272 and 282 MMcfe/d, after incorporating SandPoint beginning in mid-May and Sundance beginning in July.

2023 PRELIMINARY OUTLOOK

The Company’s 2023 production is expected to grow by over 35% year-over-year to an annualized production volume of 63,000 Boe/d which reflects SilverBow’s two-rig development program and a full year of contributions from the acquired assets.

SilverBow expects to generate approximately $250 million of free cash flow in 2023 based on $90 WTI and $4.75 Henry Hub pricing. The Company estimates every $5.00 change in NYMEX oil price would result in a change of $20 million in free cash flow and every $1.00 change in NYMEX natural gas price results in a change of $40 million in estimated free cash flow (assuming no change to 2023 hedge position).

SilverBow’s 2023 projected free cash flow yield is estimated at 40% based on the Company’s market capitalization as of July 1, 2022. SilverBow projects its re-investment rate to be approximately 60%.

LIQUIDITY UPDATE

As of June 30, 2022, the Company had approximately $9 million in cash and $494 million of outstanding borrowings under its Credit Facility. The Company had $275 million of undrawn capacity, after factoring in approximately $6 million in letters of credit, and approximately $9 million in cash, and resulting in approximately $284 million of liquidity.

HEDGING UPDATE

As of June 29, 2022, SilverBow had 69% of total estimated production volumes hedged for the remainder of 2022, using the midpoint of production guidance. The Company's hedge book consists of swaps and collars extending to the fourth quarter of 2024. Additional details are shown below.

INVESTOR PRESENTATION AND OTHER DETAILS

SilverBow has posted a presentation under the “Investor Relations” section of the Company’s website, www.sbow.com. Investors are encouraged to access for additional details and information.

ABOUT SILVERBOW RESOURCES, INC.

SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.

FORWARD-LOOKING STATEMENTS

This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this press release, including those regarding our strategy, the benefits of the acquisitions, future operations, guidance and outlook, financial position, well expectations and drilling plans, estimated production levels, expected oil and natural gas pricing, estimated oil and natural gas reserves or the present value thereof, reserve increases, service costs, impacts of inflation, future free cash flow and expected leverage ratio, capital expenditures, budget, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this report, the words “will,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “budgeted,” "guidance," “expect,” “may,” “continue,” “predict,” “potential,” “plan," “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, risks and uncertainties discussed in the Company’s reports filed with the SEC.

All forward-looking statements speak only as of the date of this news release. You should not place undue reliance on these forward-looking statements. The Company’s capital budget, operating plan, service cost outlook and development plans are subject to change at any time. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we can give no assurance that these plans, intentions or expectations will be achieved. The risk factors and other factors noted herein and in the Company's SEC filings could cause its actual results to differ materially from those contained in any forward-looking statement. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.

All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the foregoing. We undertake no obligation to publicly release the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as required by law.

Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW

DUBLIN--(BUSINESS WIRE)--The "Small Wind Market Size, Share & Trends Analysis Report By Application (Off Grid, On Grid), By Axis Type (Horizontal Axis, Vertical Axis), By Region And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global small wind market size is expected to reach USD 2.54 billion by 2030, expanding at a CAGR of 9.2%

Increasing awareness about renewable energy along with government regulations to control growing carbon footprint is propelling the market growth. Increasing global population coupled with rising energy deficit are some of the factors anticipated to positively influence the market. In addition, the gradual reduction in per kilowatt prices along with affordable installation prices of wind turbines for electricity demand will favor the business growth.

Stringent government regulations are encouraging grid connectivity to reduce the burden on the use of non-renewable sources for electricity generation. Numerous financial and economic benefits including Feed-in-Tariffs (FiT), Production Tax Credit (PTC), and Investment Tax Credit (ITC) among others are expected to augment the market growth over the forecast period.

The COVID-19 pandemic impacted several industries as they were impacted due to the lockdown imposed in many countries. As the industrial operations stopped due to the pandemic, the market experienced a significant dip in 2020 owing to the reduction in energy consumption. This was further attributed to the disruptions of the supply chain & delays or postponement of wind projects in the renewable industry.

The off-grid application segment accounted for 59.7% of the global market share in 2021. The demand for off-grid wind turbines can be attributed to the long-standing conventional methods of harnessing this energy for electrification, however, this segment is set to witness a decline due to the government initiatives launched to boost grid connectivity. Such regulatory initiatives are expected to boost the demand for on-grid small wind applications over the forecast period.

Horizontal Axis Wind Turbines (HAWT) are the preferred axis type in the global small wind market given the ease in installation coupled with affordable pricing. However, the increasing demand for Vertical Axis Wind Turbine (VAWT) from a large number of consumers is expected to boost the market growth of this segment in upcoming years.

Small Wind Market Report Highlights

• The small wind market is anticipated to witness a growth of over 9.0% from 2022 to 2030 on account of increasing awareness about emission-free renewable energy. Vertical Axis Wind Turbine (VAWT) is expected to grow at the fastest rate in terms of revenue, registering a CAGR of 11.0%, during the forecast period owing to its innovative design and energy efficiency
• Europe region is predicted to witness substantial growth and captured a 43.2% market share in 2021 owing to the increasing need to control the region's carbon footprint
• Europe is expected to maintain its position over the forecast period. This is attributed to changing perceptions toward the adoption of renewable energy. Large-scale investments along with high consumer awareness are predicted to drive the market by 2030. The abundant availability of onshore and offshore regions for wind turbine installation options is augmenting the growth of the regional market.

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

2.1. Small Wind Market - Industry Snapshot & Key Buying Criteria, 2019 - 2030

Chapter 3. Small Wind Market Variables, Trends & Scope

3.1. Market Segmentation & Scope

3.2. Penetration & Growth Prospect Mapping, 2019 - 2030

3.3. Small Wind Market - Value Chain Analysis

3.4. Regulatory Framework

3.5. Technology Overview

3.5.1. Small Wind Market Dynamics

3.5.2. Market Driver Analysis

3.5.3. Market Restraint Analysis

3.6. Key Opportunities Prioritized

3.6.1. New Market Avenues

3.7. Industry Analysis - Porter's

3.8. Small Wind Market - PESTEL Analysis

Chapter 4. Small Wind Market: Application Outlook

4.1. Small Wind Market Share by Application, 2021 & 2030 (USD Million)

4.2. Off-Grid

4.3. On-Grid

Chapter 5. Small Wind Market: Axis Type Outlook

5.1. Small Wind Market Share by Axis Type, 2021 & 2030 (USD Million)

5.2. Horizontal Axis Wind Turbine

5.3. Vertical Axis Wind Turbine

Chapter 6. Small Wind Market: Regional Outlook

6.1. Small Wind Market Share by Region, 2021 & 2030 (USD Million)

Chapter 7. Competitive Landscape

7.1. Vendor Landscape

7.2. Competitive Environment

7.3. Company Market Positioning

7.4. Strategy Framework

Chapter 8. Company Profiles

• Envergate Energy AG
• Kingspan Group
• Kliux Energies
• superwind GmbH
• Bergey Windpower Co.
• EOCYCLE
• Shanghai Zhiyuan Green Energy Co., Ltd.
• Northern Power Systems
• XZERES Corp.

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that it will issue a press release containing its second quarter 2022 financial results after the Nasdaq closes on Monday, August 1, 2022. On Tuesday, August 2, 2022 at 10:00 a.m. Eastern Time, Chief Executive Officer Jonathan Pertchik, President Barry Richards and Chief Financial Officer and Treasurer Peter Crage will host a conference call to discuss these results.

The conference call telephone number is (877) 329-4614. Participants calling from outside the United States and Canada should dial (412) 317-5437. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through Tuesday, August 9, 2022. To hear the replay, dial (412) 317-0088. The replay pass code is 9164944.

A live audio webcast of the conference call will also be available in a listen-only mode on the company's website, which is located at www.ta-petro.com. Participants who want to access the webcast should visit the company's website about five minutes before the call. The archived webcast will be available for replay on the company's website after the call.

About TravelCenters of America Inc.:

TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 18,000 team members serve guests in over 276 locations in 44 states, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.

Kristin Brown, Director, Investor Relations
(617) 796-8251

TULSA, Okla.--(BUSINESS WIRE)--SCF Partners (“SCF”) and T.D. Williamson, Inc. (“TDW”) are pleased to announce an investment partnership. SCF, an energy investment firm, has invested in TDW, a global leader in intervention and isolation, inspection, and pigging products and services for the gathering, transmission, and distribution sectors of the pipeline industry. TDW helps maintain critical assets all over world, serving customers across 6 continents in over 100 countries.

Founded in 1920, TDW has been a leader in the pipeline maintenance and integrity industry for over 100 years. The company has nearly 500 registered and pending patents and pioneered key technologies such as cleaning pigs, caliper inspections, and hot tapping and plugging which have been pivotal in keeping critical pipeline assets well maintained, safe, and operational around the globe. Customers across the pipeline industry still look to TDW to help with their most complex and technical challenges.

“This partnership uniquely positions TDW’s market-leading brand and technology with SCF’s deep financial and strategic expertise, to create a strong, growth focused company for the future,” says Robert McGrew, President and CEO at TDW. "I look forward to leveraging what makes TDW unique today and seizing new opportunities that the partnership with SCF will bring.”

“SCF is honored to be partnering with a storied company like TDW,” says David Baldwin, Partner at SCF. “The Williamson family has built an exceptional company over the past 100 years, and SCF is excited to be a part of this next chapter of TDW. We have always admired the company’s dedication to its people, its customers, and the industry. We are looking forward to working with the family and management to build on their past success and grow the company in this new energy cycle.”

“With the global demand for energy and its evolving requirements placing significant operating and strategic challenges on the industry we serve, we are appreciative of the opportunity to work alongside SCF to further enhance and grow our service and support to our customers. We look forward to entering our second century of service to the energy industry with SCF as our partner and collaborator,” says Dick Williamson, Chairman Emeritus.

“TDW is known for their world-class products and service, their focus on safety and integrity, and their innovative solutions that ensure critical energy products get to their end markets safely,” says Deviyani Misra-Godwin, Vice President at SCF. “We look forward to supporting TDW in continuing to service legacy assets, as well as leveraging their expertise and experience to build out and maintain the infrastructure that will be needed in the future for a successful energy transition.”

About T.D. Williamson

T.D. Williamson (“TDW”) serves the gathering, transmission, and distribution sectors of the pipeline industry with a global portfolio of products and services, including advanced isolation, integrated pigging, and integrity assessment solutions. With both onshore and offshore applications, TDW offers expansive pipeline maintenance and asset optimization activities. TDW cultivates long-term relationships with pipeline operators that endure throughout the life of a pipeline. To learn more, visit www.tdwilliamson.com.

About SCF Partners

Founded in 1989, SCF provides equity capital and strategic growth assistance to build and grow leading energy service, equipment, and technology companies that operate throughout the world. SCF has invested in more than 70 platform companies and made more than 400 additional acquisitions to develop 18 publicly listed energy service and equipment companies over its history. The firm is headquartered in Houston, Texas, and has offices in Calgary, Singapore, Aberdeen, and Australia. Learn more at www.scfpartners.com.

Advisors

Raymond James & Associates, Inc. served as exclusive financial advisor to TDW. Vinson & Elkins LLP served as exclusive legal advisor to SCF. Crowe & Dunlevy, Baker Botts LLP and Allen & Overy LLP served as exclusive legal advisors to TDW.

Stanna Brazeel
This email address is being protected from spambots. You need JavaScript enabled to view it.
918-625-3912

HOUSTON--(BUSINESS WIRE)--NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced today the execution of a 20-year sale and purchase agreement (“SPA”) with China Gas Hongda Energy Trading Co., LTD (“China Gas”), a wholly-owned subsidiary of China Gas Holdings Limited (HKEX:00384) for the supply of liquefied natural gas (“LNG”) from NextDecade’s Rio Grande LNG export project (“RGLNG”) in Brownsville, Texas.

Under the SPA, China Gas will purchase 1.0 million tonnes per annum (“MTPA”) of LNG indexed to Henry Hub and delivered on a free-on-board (“FOB”) basis. The LNG will be supplied from the second train at Rio Grande LNG, which is expected to start commercial operations as early as 2027.

“We are pleased to announce the signing of this long-term SPA with China Gas, one of China’s largest natural gas distribution companies supplying approximately 43 million households across China,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “This SPA demonstrates the continued acceleration of RGLNG’s commercial momentum and highlights our successful strategy of offering customers flexible, competitive and low carbon-intensive LNG.”

“The signing of this long-term SPA with NextDecade will further optimize China Gas's portfolio, expand resource supply channels, and ensure that we can meet our customers' growing demand for quality, reliable and low carbon content energy. This SPA demonstrates China Gas's determination to unswervingly implement China’s national low-carbon energy development strategy,” said Yalong Qi, General Manager of China Gas Hongda Energy Trading Co., LTD.”

Based on current expected demand for LNG and assuming the achievement of further LNG contracting and financing, NextDecade anticipates making a positive final investment decision (“FID”) on up to three trains of the Rio Grande LNG export project in the second half of 2022, with FIDs of its remaining trains to follow thereafter.

About NextDecade Corporation

NextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.

About China Gas

China Gas Holdings Limited (HKEX: 00384) is a leading gas service provider in China, principally engaged in the investment, construction and management of city gas pipeline infrastructure, distribution of natural gas and LPG to residential, industrial and commercial users, and gas refilling stations for vehicles and vessels. China Gas owns a total of 652 city and township gas projects with concession rights, 32 natural gas long-distance pipeline transmission projects, 554 CNG/LNG refilling stations for vehicles, as well as the license to import and export LNG and other fuel products in China, in addition to 113 LPG distribution projects.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design,” “assume,” “budget,” “guidance,” and “forecast” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include NextDecade’s progress in the development of its LNG liquefaction and export projects and the timing of that progress; the timing of achieving a final investment decision on the Rio Grande LNG terminal (the “Terminal”); reliance on third-party contractors to successfully complete the Terminal and the pipeline to supply gas to the Terminal; ability to secure additional debt and equity financing in the future to complete the Terminal on commercially acceptable terms; accuracy of estimated costs for the Terminal; ability to achieve operational characteristics of the Terminal, when completed, including liquefaction capacities, and any differences in such operational characteristics from expectations; development risks, operational hazards and regulatory approvals applicable to NextDecade's development, construction and operation activities and those of its third-party contractors and counterparties; technological innovation which may lessen NextDecade's anticipated competitive advantage or demand for its offerings; global demand for and price of LNG; availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industries, including environmental laws and regulations that impose significant compliance costs and liabilities; global pandemics, including the 2019 novel coronavirus pandemic, the Russia-Ukraine conflict, other sources of volatility in the energy markets and their impact on NextDecade's business and operating results, including any disruptions in its operations or development of the Terminal and the health and safety of its employees, and on its customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade's ability to maintain the listing of our securities on the Nasdaq Capital Market or another securities exchange or quotation medium; changes adversely affecting the businesses in which NextDecade is engaged; management of growth; general economic conditions; ability to generate cash; and the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.

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

Global LNG Marine Infrastructure Platform Provides Reliable, Cleaner and More Affordable Energy to Support Transition

NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) and Apollo (NYSE: APO) today announced that they have entered into a definitive Equity Purchase and Contribution Agreement (the “Purchase and Contribution Agreement”) to sell 11 LNG infrastructure vessels owned by NFE to a newly formed joint venture (the “JV” or the “Platform”) between funds managed by Apollo and NFE in a transaction valued at approximately $2 billion. The JV will be owned approximately 80% by Apollo funds and 20% by NFE.

This transaction will create a global marine infrastructure platform underpinned by long-term contracts, benefitting from NFE’s LNG downstream operations and development activities, as well as Apollo’s leading investment and maritime experience. The Platform provides critical infrastructure for the delivery, storage, and regasification of liquefied natural gas (“LNG”) to power countries around the world, which can reduce their reliance on oil and coal to lower carbon emissions while enabling potentially substantial cost savings. In addition to serving NFE’s projects globally, the Platform also serves a diversified customer base of utilities and energy companies worldwide under third-party charters.

The 11-vessel portfolio consists of 6 Floating Storage and Regasification Units (“FSRUs”), 2 LNG Carriers (“LNGCs”), and 3 Floating Storage Units (“FSUs”). The total implied enterprise value of the transaction is approximately $2 billion, and NFE will receive approximately $1.1 billion in proceeds after accounting for NFE’s share of the JV and paydown of existing debt.

As part of the transaction, NFE has agreed to charter 10 of the 11 of the vessels from the Platform for a period of up to 20 years commencing either upon close of the transaction or upon expiration of the vessels’ existing third-party charter agreements. The Platform will also seek growth opportunities in support of both NFE and third parties to support the energy transition and bolster energy security globally.

“Together with Apollo, we are creating a leading LNG marine infrastructure platform to help accelerate the energy transition while freeing up capital to continue to invest into our Fast LNG and downstream LNG projects worldwide,” said Wes Edens, Chairman and CEO of New Fortress Energy. “We are pleased to be partnering with Apollo in creating a maritime infrastructure company that will help support NFE’s growing LNG infrastructure needs going forward.”

Apollo Partner Brad Fierstein said, “Energy transition and energy reliability are global priorities and core to Apollo’s sustainable investing platform. We’re pleased to further these initiatives through this long-term investment alongside our JV partners at New Fortress Energy. This is a high-quality portfolio that increases energy security around the world, accelerates decarbonization efforts, and facilitates LNG use which is cleaner and more affordable than diesel. We look forward to investing behind the platform’s growth to drive a more sustainable future.”

Subject to satisfying customary closing conditions, including receipt of certain regulatory approvals and third-party consents, closing of the transaction is expected to occur in Q3 of 2022. Transaction proceeds are expected to be utilized to fund NFE’s FLNG projects, as well as for ongoing downstream infrastructure and general corporate purposes.

About New Fortress Energy

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure, ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations seek to support global energy security, enable economic growth, enhance environmental stewardship, and transform local industries and communities around the world.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2022, Apollo had approximately $513 billion of assets under management. To learn more, please visit www.apollo.com.

Cautionary Language Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. Forward looking statements include: the successful completion of the sale and purchase of the vessels and creation of the JV; total implied enterprise value; projected proceeds and the ability of NFE to redeploy the proceeds from the transaction; cashflow expectations for the vessels; the chartering of certain vessels to NFE; the strategy and ability of the JV business platform to support its goals in providing reliable, cleaner and more affordable energy to support transition, reduce reliance by countries on oil and coal, reducing carbon emissions and attaining cost savings; benefits to be derived from experience from the partners of the JV; anticipated growth strategy; the ability of NFE’s investment into its FLNG Units; the success of the partnership between NFE and Apollo; satisfaction of the closing conditions in the Purchase and Contribution Agreement in accordance with the terms thereof and within the required dates; and the expected structure and date of closing of the transaction. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the parties to the Purchase and Contribution Agreement or the stock prices of such parties.

These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are necessarily estimates based upon current information and are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the risk that the proposed transactions may not be completed in a timely manner or at all; common risks related to the sale and purchase of businesses or assets, including among others the risk of valuation and successful implementation, and the risk that we may not be able to realize the benefits of any such transactions; the ability of the JV to implement its business platform and to realize anticipated efficiencies and benefits; common risks related to joint ventures, including the timing and amount of commitments or obligations to fund operating and/or capital expenditures, nonperformance by joint venture, limited or no control over the management, business or operations of the joint venture, and subordination of claims of creditors in the event of a liquidation or reorganization; possibility that any or all of the various conditions to the consummation of the transaction may not be satisfied or waived (or any conditions, limitations or restrictions placed on such approvals); the receipt, on a timely basis or otherwise, of the required approvals and consents for the transaction; breach or failure by the parties to comply with the covenants and obligations under the Purchase and Contribution Agreement; nonpayment or nonperformance by any of NFE’s or the JV’s customers or suppliers; including among others nonpayment or nonperformance by any of parties to the charters; the effect of the announcement or pendency of the transactions on our operations, including the ability of NFE to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom NFE does business; the ability of the parties to implement their respective plans, forecasts and other expectations with respect to NFE’s and the JV’s businesses after the completion of the proposed transactions; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; volatility in the price or demand of LNG products; business disruption following the transaction; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company 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 the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our annual report, quarterly and other reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement. We undertake no duty to update these forward-looking statements, even though our situation may change in the future.

For New Fortress Energy:
Investors:
Brett Magill
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media:
Jake Suski
(516) 268-7403
This email address is being protected from spambots. You need JavaScript enabled to view it.

For Apollo:
Noah Gunn
Global Head of Investor Relations
212-822-0540
This email address is being protected from spambots. You need JavaScript enabled to view it.

Joanna Rose
Global Head of Corporate Communications
212-822-0491
This email address is being protected from spambots. You need JavaScript enabled to view it.

Expansion of existing loan facility, further solidifying partnership with lenders.

Initial delivery of latest generation S19 XP miners expected to be operational in August 2022.

EASTON, Md.--(BUSINESS WIRE)--$WULF #bitcoin--TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates fully integrated, domestic bitcoin mining facilities powered by more than 91% zero-carbon energy, announced it has entered into a first amendment to the Loan Agreement with its existing lender group for an additional $50 million of debt. The Company intends to use net proceeds towards completing the datacenter infrastructure at its Lake Mariner facility in New York and Nautilus Cryptomine facility in Pennsylvania.

In addition, the Company announced that it anticipates its initial batch of 3,000 S19 XP mining machines from the previously announced purchase agreements with Bitmain Technologies Limited (“Bitmain”) for its Lake Mariner Facility in New York will be operational in August. After the initial batch, the Company has approximately $60 million in deposits under the purchase agreements, which will be applied to additional monthly batches based on the then current prices for miners.

Irene Gao, Antminer Sales Director of NCSA Region, Bitmain, commented, “Delivery of the initial batch of S19 XPs – currently the most efficient bitcoin miner in the market – marks a key milestone for TeraWulf as they begin rapidly scaling their self-mining operations. The high-performance and low power consumption of the S19 XP miners should significantly benefit TeraWulf’s sustainable and low-cost mining business. We are confident in the Company’s vertically integrated business model as we continue to expand our long-term partnership with TeraWulf.”

TeraWulf announced it is commencing the third quarter with approximately 3,300 miners online at its Lake Mariner facility and expects to significantly ramp operations monthly with the completion of the data center infrastructure at its Lake Mariner and Nautilus Cryptomine facilities.

“Our ability to secure this new capital, together with the near-term deployment of the S19 XP miners at Lake Mariner, is further indication of TeraWulf's continued momentum,” said Paul Prager, Chief Executive Officer and chair of the board of TeraWulf. “We expect the third quarter to be transformational for the Company as we successfully shift from major construction activities at our sites to an operational mining company with a significant ramp in hash rate.”

Mr. Prager continued, “TeraWulf’s accomplished executive team is time-tested and has been through its share of difficult market cycles. Our current priority is to ensure that we are resilient and securely positioned to not only operate and scale the business, but also take advantage of certain value-creating opportunities that might otherwise not be available during more healthy markets. It is during the present challenging market backdrop that our long-standing relationship with Bitmain and access to additional funding has enabled us to opportunistically translate our capital into deliveries of the latest generation equipment at historically low market prices, while also expecting to benefit from an increased share of the global network hashrate.”

TeraWulf previously announced that it is in the final stages of completing its first dedicated mining building at Lake Mariner, which will house approximately 50 MW of capacity. The Nautilus Cryptomine facility, a partnership between TeraWulf and Talen Energy Corporation, has also made significant construction progress and remains on target to begin mining in the third quarter.

Additional information on the terms of the amended Loan Agreement is provided in the Form 8-K filed with the Securities and Exchange Commission.

About TeraWulf

TeraWulf (Nasdaq: WULF) owns and operates fully integrated environmentally clean bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company is developing two mining facilities, Lake Mariner Data in New York and Nautilus Cryptomine in Pennsylvania, with the objective of 800 MW of mining capacity deployed by 2025, enabling over 23 exahash per second of expected hashrate. TeraWulf will generate domestically produced bitcoin powered by nuclear, hydro and solar energy with a goal of utilizing 100% zero-carbon energy. With a core focus of ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale.

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, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as "plan," "believe," "goal," "target," "aim," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf's management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf's operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (8) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (9) employment workforce factors, including the loss of key employees; (10) litigation relating to TeraWulf, IKONICS and/or the business combination; (11) the ability to recognize the anticipated objectives and benefits of the business combination; and (12) and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company's filings with the SEC, which are available at www.sec.gov.

Company Contact:
Sandy Harrison
This email address is being protected from spambots. You need JavaScript enabled to view it.
(410) 770-9500