THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (the "Company" or “Excelerate”) today reported its financial results for the first quarter ended March 31, 2022.

RECENT HIGHLIGHTS

• Reported Net Income of $12.8 million and Adjusted EBITDAR of $71.4 million⁽¹⁾ for the first quarter
• Executed gas sales at Northeast Gateway terminal in Boston harbor
• Completed first full quarter of natural gas sales at the Bahia terminal in Brazil
• Advanced Moheshkhali LNG expansion project in Bangladesh
• Awarded seasonal tender for Bahia Blanca GasPort in Argentina
• Received approval in principle for the Payra LNG project in Bangladesh
• Signed binding agreement for regasification services with Gasgrid Finland

CEO COMMENT

“The financial results we delivered for the first quarter underscore the resilience of our business model and the value our customers place on maintaining flexible access to global LNG supply,” said President and Chief Executive Officer Steven Kobos. “Although the European energy crisis created headwinds early in the year, including the flattening of the JKM to TTF price spread which resulted in fewer opportunities to sub-charter our available vessels to third parties, performance in our base business has remained solid as we demonstrate our proven ability to provide critical regasification services for our customers. In addition, we continue to advance the development of our growth projects in new and existing markets, driving meaningful value creation for our stakeholders.

“This is an exciting time in the history of our Company and the LNG industry,” continued Kobos. “We understand the important role that Excelerate plays in supporting the global transition to a lower-carbon energy future. Every day our operations are helping to keep the lights on for hundreds of millions of people and providing energy security to countries that desperately need it. Recent geopolitical events have further highlighted the need for energy security, not only for European countries who have been dependent on Russian gas, but for countries around the world. Moving forward, we expect to benefit from the increased demand for flexible access to LNG.”

FIRST QUARTER 2022 FINANCIAL RESULTS

(1) See the reconciliation of non-GAAP financial measures to the most comparable GAAP financial measure in the section titled "Non-GAAP Reconciliation" below.

KEY PROJECT UPDATES

Finland LNG Terminal

In April 2022, the government of Finland announced its intention to stop purchases of Russian pipeline natural gas and instead to utilize a floating storage and regasification unit (FSRU) to meet its natural gas consumption needs by year-end 2022. The government of Estonia has made a similar decision. Due to the proximity and good relations between the two countries, Estonia will participate in the Finnish project rather than pursuing a project of its own. In May 2022, Excelerate and Gasgrid Finland signed a 10-year, time charter party agreement for Excelerate to provide LNG regasification service that is expected to start in the fourth quarter of 2022. Gasgrid Finland has initiated the development of a new jetty in Southern Finland, near the Balticconnector pipeline, for the FSRU Exemplar to moor.

Payra LNG

In May 2022, the Payra LNG project was approved in principle by the government of Bangladesh, a significant milestone in the approval process. Excelerate has commenced negotiations of the integrated deal, which includes an LNG supply agreement that would allow the Company to sell three to four million tons per annum of LNG to the country. The Payra LNG project would represent Excelerate’s largest deployment of capital to date and has the potential to significantly increase the scale of the Company’s operations from a global perspective.

MLNG Expansion

In February 2022, the Moheshkhali LNG (“MLNG”) expansion project was approved in principle by the government of Bangladesh. MLNG is one of Excelerate’s three E-FIT integrated terminals. Excelerate has commenced commercial negotiations for the expansion of the terminal, the extension of our regasification agreement by five years to 2038, and an LNG supply agreement to sell up to 1.5 million tons per annum.

Vlora LNG Terminal

In January 2022, Excelerate received approval from the Albanian government to proceed with the second phase of the feasibility study for the Vlora LNG terminal and power plant. Under the previously announced MOU with Albgaz, Albania's natural gas transmission system operator, and Snam, one of the largest energy infrastructure owners and operators in the world, Excelerate is continuing to explore solutions to connect the Vlora LNG Terminal with other European natural gas infrastructure.

Bahia Blanca

In March 2022, Excelerate was awarded a seasonal charter for the FSRU Exemplar at the Bahia Blanca GasPort terminal in Argentina. Following regasification services at the Northeast Gateway Deepwater Port, the Exemplar sailed to Argentina. The vessel arrived at Bahia Blanca in May 2022 and will provide regasification services during the winter in Argentina.

LIQUIDITY AND CAPITAL RESOURCES

As of March 31, 2022, Excelerate had $82.9 million in cash and cash equivalents. On April 18, 2022, the Company entered into a new $350 million senior secured revolving credit facility (the “Facility”). As of May 20, 2022, the Company had letters of credit issued of $52 million and no outstanding borrowings under the Facility. The Facility, which has a three-year maturity that expires in April 2025, will further enhance Excelerate’s liquidity and balance sheet strength.

2022 FINANCIAL OUTLOOK

For the full year 2022, the Company expects Adjusted EBITDA to range between $249 million and $269 million. In addition, the Company expects Adjusted EBITDAR to range between $285 million and $305 million.⁽¹⁾

Actual results may differ materially from the Company’s outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below.

INVESTOR CONFERENCE CALL AND WEBCAST

The Excelerate management team will host a conference call for investors and analysts at 10:00 am Eastern Time (9:00 a.m. Central Time) on Wednesday, May 25, 2022. Investors are invited to access a live webcast of the conference call via the Investor Relations page on the Company’s website at www.excelerateenergy.com. An archived replay of the call and a copy of the presentation will be on the website following the call.

ABOUT EXCELERATE ENERGY:

Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Founded in 2003 by George B. Kaiser, Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of flexible regasification services from FSRU to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.

USE OF NON-GAAP FINANCIAL MEASURES

The Company reports financial results in accordance with accounting principles generally accepted in the United States (“GAAP”). Included in this press release are certain financial measures that are not calculated in accordance with GAAP. They are designed to supplement, and not substitute, Excelerate’s financial information presented in accordance with U.S. GAAP. The non-GAAP measures as defined by Excelerate may not be comparable to similar non-GAAP measures presented by other companies. The presentation of such measures, which may include adjustments to exclude non-recurring items, should not be construed as an inference that Excelerate’s future results, cash flows or leverage will be unaffected by other nonrecurring items. Management believes that the following non-GAAP financial measures provide investors with additional useful information in evaluating the Company's performance and valuation. See the reconciliation of non-GAAP financial measures to the most comparable GAAP financial measure, including those measures presented as part of the Company’s 2022 Financial Outlook, in the section titled “Non-GAAP Reconciliation” below.

Adjusted Gross Margin

The Company uses Adjusted Gross Margin, a non-GAAP financial measure, which it defines as revenues less direct cost of sales and operating expenses, excluding depreciation and amortization, to measure its operational financial performance. Management believes Adjusted Gross Margin is useful because it provides insight on profitability and true operating performance excluding the implications of the historical cost basis of its assets. The Company's computation of Adjusted Gross Margin may not be comparable to other similarly titled measures of other companies, and you are cautioned not to place undue reliance on this information.

Adjusted EBITDA and Adjusted EBITDAR

Adjusted EBITDA is a non-GAAP financial measure included as a supplemental disclosure because the Company believes it is a useful indicator of its operating performance. The Company defines Adjusted EBITDA, a non-GAAP measure, as net income before interest, income taxes, depreciation and amortization, and items such as charges and non-recurring expenses that management does not consider as part of assessing ongoing operating performance. Adjusted EBITDAR is a non-GAAP financial measure included as a supplemental disclosure because the Company believes it is a valuation measure commonly used by financial statement users to more effectively compare the results of its operations from period to period and against other companies without regard to its financing methods or capital structure. The Company defines Adjusted EBITDAR, a non-GAAP measure, as Adjusted EBITDA adjusted to eliminate the effects of rental expenses for vessels and other infrastructure, which are normal, recurring cash operating expenses necessary to operate its business.

The Company adjusts net income for the items listed above to arrive at Adjusted EBITDA and Adjusted EBITDAR because these amounts can vary substantially from company to company within its industry depending upon accounting methods and book values of assets, capital structures, and the method by which the assets were acquired. Adjusted EBITDA and Adjusted EBITDAR should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of the Company's operating performance or liquidity. These measures have limitations as certain excluded items are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDA and Adjusted EBITDAR. Adjusted EBITDAR should not be viewed as a measure of overall performance or considered in isolation or as an alternative to net income because it excludes rental expenses for vessels and other infrastructure, which is a normal, recurring cash operating expense that is necessary to operate the Company's business. The Company's presentation of Adjusted EBITDA and Adjusted EBITDAR should not be construed as an inference that its results will be unaffected by unusual or non-recurring items. The Company's computations of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. For the foregoing reasons, each of Adjusted EBITDA and Adjusted EBITDAR has significant limitations which affect its use as an indicator of its profitability and valuation, and you are cautioned not to place undue reliance on this information.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements about Excelerate and its industry that involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding Excelerate’s future results of operations or financial condition, business strategy and plans, expansion plans and strategy, economic conditions, both generally and in particular in the regions in which Excelerate operates, and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “believe,” “consider,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “may,” “intend,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” “shall,” “should,” “anticipate,” “opportunity” or the negative thereof or other variations thereon or comparable terminology. These statements appear throughout this press release and include, but are not limited to, statements regarding Excelerate’s plans, objectives, expectations, and intentions.

You should not rely on forward-looking statements as predictions of future events. Excelerate has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends that it believes may affect its business, financial condition, and operating results. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors. All forward-looking statements are based on assumptions or judgments about future events that may or may not be correct or necessarily take place and that are by their nature subject to significant uncertainties and contingencies, many of which are outside the control of Excelerate. The occurrence of any such factors, events, or circumstances would significantly alter the results set forth in these statements.

Moreover, Excelerate operates in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, for example, the invasion of Ukraine by Russia, and it is not possible for Excelerate to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. The unprecedented nature of the Covid-19 pandemic may give rise to risks that are currently unknown or amplify the risks associated with many of the foregoing events or factors. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements.

In addition, statements that “Excelerate believes” and similar statements reflect Excelerate’s beliefs and opinions on the relevant subject. These statements are based on information available to Excelerate as of the date of this press release. And while Excelerate believes that information provides a reasonable basis for these statements, that information may be limited or incomplete. Excelerate’s statements should not be read to indicate that it has conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.

The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Excelerate undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Excelerate may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on its forward-looking statements. Excelerate’s forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments.

Investors
Craig Hicks
Excelerate Energy
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TORONTO--(BUSINESS WIRE)--Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) (“Flow” or the “Company”) is pleased to announce its participation in Morgan Stanley’s 7th Annual Sustainable Futures Conference in New York City on Wednesday, May 25, 2022.

Nicholas Reichenbach, Founder and Executive Chairman of Flow, will join Mark Carlucci, Vice President of Sustainability Equity Research at Morgan Stanley, for a fireside chat at 11:45 a.m. Eastern Time. Participants may access a live webcast of the fireside chat here, or on the Flow investor relations site at: investors.flowhydration.com.

About Flow

Flow is one of the fastest-growing premium water companies in North America. Founded in 2014, Flow’s mission since day one has been to reduce environmental impacts by providing sustainably sourced naturally alkaline spring water in a sustainable, 100% recyclable and up to 75% renewable, plant-based pack. Today, the brand is B-Corp Certified with a best-in-class score of 126.5, offering a diversified line of health and wellness-oriented beverage products: original naturally alkaline spring water, award-winning organic flavours, and collagen-infused flavours in sizes ranging from 330-ml to 1-litre. All products contain naturally occurring electrolytes and essential minerals and support Flow’s overarching purpose to “bring wellness to the world through the positive power of water.” Flow beverage products are available online at flowhydration.com and are sold at over 30,500 stores across North America.

For more information on Flow, please visit Flow’s investor relations site at: investors.flowhydration.com.

Cautionary Statement

This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Such forward-looking statements include, but are not limited to, information with respect to our objectives and the strategies for achieving those objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking statements are typically identified by the use of words such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, although not all forward-looking statements contain these words. Forward-looking statements are provided for the purposes of assisting the reader in understanding Flow and its business, operations, prospects, and risks at a point in time in the context of historical and possible future developments, and the reader is therefore cautioned that such information may not be appropriate for other purposes. Forward-looking statements are based on assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. Those risks and uncertainties include the following: impact and spread of COVID-19; ability to achieve and manage growth; failure to expand sales capabilities; changes in consumer preferences; criticism of packaged water; maintain brand image and product quality; constrained or unavailable spring water sources; inability to package products; increased competition; accurately estimating demand; maintaining relationships with distributors and vendors; changing retail landscape; incorrect product design or development; product information misrepresentation; revenues derived entirely from packaged beverages; increases in costs or shortages of materials; fluctuation of quarterly operating results; no assurance of profitability; fluctuations in foreign currency; changes in government regulation; contamination or recalls of ingredients or end products; loss of intellectual property rights; litigation; future tax rates; catastrophic events; climate change; seasonal business; dependence on key information systems and third-party service providers; ability to securely maintain confidential information; maintaining and upgrading information technology systems; conflict of interest; dual class share structure; potential volatility of share price; no assurance of active market for shares; lack of dividends; global financial condition; publication of inaccurate or unfavourable research and reports; operating history; and management and conflict of interests. Consequently, all of the forward-looking statements contained herein are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained herein are provided as of the date hereof, and we do not undertake to update or amend such forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Devan Pennell, Chief Financial Officer
1-844-356-9426
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US investors:
Lynne Collier
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Canadian investors:
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VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen'' or the “Company”) (TSXV: EVGN) (OTCQB: EVGIF), today reported financial results as at and for the three-month period ended March 31, 2022 (“Q1 2022”). All amounts are in Canadian dollars unless otherwise stated and are in accordance with IFRS.

For further information on the results please see the Company’s Consolidated Financial Statements and Management’s Discussion and Analysis filed on SEDAR at www.sedar.com and on EverGen’s website at www.evergeninfra.com.

First Quarter Events & Updates

“EverGen is in a strong position to expedite growth as Canada’s RNG infrastructure platform and we have continued to deliver on our goals,” said Chase Edgelow, CEO of EverGen. “We were able to expand our footprint into Alberta with the LOI to acquire a 67% interest in GrowTEC, a stepping stone project towards our regional expansion in a strategic jurisdiction and expected consolidation of the RNG industry in Canada.”

During Q1 2022, EverGen recognized more than $1.7 million of insurance progress payments, which covers all of the lost revenues and flood-related expenses to date at the FVB facility and approximately 60% of the flood related expenses through March 31, 2022 at EverGen’s NZWA facility. EverGen expects to receive further proceeds throughout the remainder of 2022 to cover any additional flood related expenses. Net loss and Adjusted EBITDA were positively impacted by the recognition of these insurance proceeds in Q1 2022 and EverGen expects full financial recovery with limited to no financial impact from the floods.

As previously announced, during Q1 2022 EverGen entered into a letter of intent (“LOI”) to acquire a 67% interest in Grow the Energy Circle Ltd. (“GrowTEC”), a biogas facility in Alberta. GrowTEC has an offtake agreement with FortisBC and is currently in Phase 1 of a development which is expected to produce 80,000 gigajoules of RNG annually and is expected to be completed by year-end 2022.

Event Subsequent to the First Quarter

As previously announced, on May 20, 2022 EverGen acquired a 50% interest in Project Radius, a portfolio of late-development-stage projects in Ontario for a cash contribution of $1.5 million. Collectively the three projects are capable of producing ~1.7 million GJ/year of RNG and will be constructed throughout 2023 and 2024.

Q1 2022 Financial Highlights

The operating results included below exceeded management’s expectations and were further strengthened by the recognition of insurance proceeds during Q1 2022.

• Revenues of $1.4 million were relatively in line with Q1 2021 revenue of $1.6 million, taking into account seasonal fluctuations.

• Net loss of $0.2 million significantly improved from Q1 2021 net loss of $1.2 million, with insurance proceeds offsetting lost revenues and flood-related expenses.

• Adjusted EBITDA of $0.6 million increased by 211% relative to Q1 2021 Adjusted EBITDA of $0.2 million, due to an increase in the overall profitability of our business.

• Cash and cash equivalents (including restricted cash) of $20.2 million and a working capital surplus of $19.2 million as at March 31, 2022.

The following table presents EverGen’s Consolidated Financial and Operating Summary:

About EverGen Infrastructure Corp.

EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future, starting on the West Coast of Canada. EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.

For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.

Non-IFRS Measures

EverGen uses certain financial measures referred to in this press release to quantify its results that are not prescribed by IFRS. The terms EBITDA, adjusted EBITDA and working capital are not recognized measures under IFRS and may not be comparable to that reported by other companies. EverGen believes that, in addition to measures prepared in accordance with IFRS, the non-IFRS measurement provide useful information to evaluate the Company’s performance and ability to generate cash, profitability and meet financial commitments.

These non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for other measures of performance prepared in accordance with IFRS.

EBITDA is defined as net income (loss) before interest, tax and depreciation and amortization. Adjusted EBITDA is EBITDA adjusted for share-based payment expenses (recoveries) and unusual or non-recurring items. Working capital is calculated as current assets less current liabilities.

Forward-Looking Information

This news release contains forward-looking statements and/or forward-looking information (collectively, “forward looking statements”) within the meaning of applicable securities laws. When used in this release, such words as “would”, “will”, “anticipates”, believes”, “explores” and similar expressions, as they relate to EverGen, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of EverGen with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause EverGen's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits EverGen will derive therefrom. These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to: the impact of general economic conditions in Canada, including the ongoing COVID19 pandemic; industry conditions including changes in laws and regulations and/or adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, in Canada; volatility of prices for energy commodities; change in demand for clean energy to be offered by EverGen; competition; lack of availability of qualified personnel; obtaining required approvals of regulatory authorities, in Canada; ability to access sufficient capital from internal and external sources; optimization and expansion of organic waste processing facilities and RNG feedstock; the realization of cost savings through synergies and efficiencies expected to be realized from the Company’s completed acquisitions; the sufficiency of EverGen’s liquidity to fund operations and to comply with covenants under its credit facility; continued growth through strategic acquisitions and consolidation opportunities; continued growth of the feedstock opportunity from municipal and commercial sources, and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated January 31, 2022, many of which are beyond the control of EverGen.

Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such forward looking statements.

The forward-looking statements contained in this release are made as of the date of this release, and except as may be expressly be required by law, EverGen disclaims any intent, obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

EverGen Investor Contact
Kelly Castledine
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EverGen Media Contact
Katie Reiach
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Acquisition marks EverGen’s entry into the Ontario market and access to development projects that provide the potential to triple EverGen’s RNG capacity, exceeding 1,000,000 GJ annually

VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen'' or the “Company”) (TSXV: EVGN) (OTCQB: EVGIF), Canada’s Renewable Natural Gas (“RNG”) Infrastructure Platform is pleased to announce it has entered into definitive agreements (the “Agreements”), with Northeast Renewables LP (“Northeast”), dated May 20, 2022, and acquired a 50% interest (the “Proposed Transaction”) in a portfolio of RNG development projects (“Project Radius”) in Ontario.

Along with the letter of intent to acquire a 67% interest in Alberta based GrowTec that was announced in March, EverGen is now positioned as the leading RNG infrastructure platform in Canada, with a footprint in three of the four largest jurisdictions in the country and plans for further expansion.

Project Radius, located in southern Ontario, is a late-development-stage portfolio of three high-quality, on-farm RNG projects, collectively capable of producing ~1.7 million GJ/year of RNG that will contribute to the reduction of emissions from agricultural operations in southern Ontario. Each of the three projects is expected to produce ~550,000 GJ/year and will be constructed throughout 2023 and 2024.

Under the terms of the Agreements, EverGen has acquired a 50% interest in Project Radius for a cash contribution of $1.5 million, which represents 50% of the initial development funding tranche of $3.0 million. EverGen’s share of the initial tranche of development funding will be provided from existing working capital and operating cash flow and is expected to advance the projects to the Notice-to-Proceed (“NTP”) phase of development within the next six months.

EverGen will work with Northeast on developing Project Radius to achieve NTP, at which time EverGen will have the right to participate in funding its proportionate share of the capital to construct large scale anaerobic digesters that convert biodegradable waste into biogas, which is then upgraded to RNG for use in the gas grid. Additionally, EverGen has a right of first offer to transition as exclusive operator of Project Radius at NTP. Project Radius is in late-stage negotiations for feedstock supply with multiple aggregators, as well as offtake agreements with utility-scale distribution companies.

“The acquisition of Project Radius provides a foothold in Ontario - a new and strategic jurisdiction in which EverGen can continue to participate in the consolidation and growth of the RNG industry in the near-term, as well as benefit from project economics in line with or exceeding those we have seen with our initial projects,” said Chase Edgelow, CEO of EverGen. “Working alongside Northeast to advance the projects, EverGen will deliver on our platform expansion commitments with the potential to exceed 1,000,000 GJ of RNG production annually. Ontario has an abundant amount of excess organic feedstock, and as a leader in the RNG industry, EverGen can develop the sustainable infrastructure that contributes to carbon-negative energy production and the greening of the province.”

“The team at Project Radius is dedicated to helping Ontario and Canada reach their net-zero emissions targets. Our RNG projects will reduce the carbon intensity of agricultural operations and natural gas customers, improve the competitiveness of growers and contribute to the local economy through construction jobs, purchase of materials and services and new full‑time employment,” said Joshua Samuel, President of Northeast. “We are excited to partner with EverGen and leverage their expertise and RNG infrastructure platform to deliver critical clean energy at the community level as quickly as possible.”

About EverGen Infrastructure Corp.

EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.

For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.

Forward Looking Statements

This news release contains forward-looking statements and/or forward-looking information (collectively, “forward looking statements”) within the meaning of applicable securities laws. When used in this release, such words as “would,” “will,” “anticipates,” believes,” “explores” and similar expressions, as they relate to EverGen, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of EverGen with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause EverGen's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits EverGen will derive therefrom. These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to: the impact of general economic conditions in Canada, including the ongoing COVID19 pandemic; industry conditions including changes in laws and regulations and/or adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, in Canada; volatility of prices for energy commodities; change in demand for clean energy to be offered by EverGen; competition; lack of availability of qualified personnel; obtaining required approvals of regulatory authorities, in Canada; ability to access sufficient capital from internal and external sources; optimization and expansion of organic waste processing facilities and RNG feedstock; the realization of cost savings through synergies and efficiencies expected to be realized from EverGen’s completed acquisitions o; the sufficiency of EverGen’s liquidity to fund operations and to comply with covenants under its credit facility; continued growth through strategic acquisitions and consolidation opportunities; continued growth of the feedstock opportunity from municipal and commercial sources and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated January 31, 2022, many of which are beyond the control of EverGen.

Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such forward looking statements.

The forward-looking statements contained in this release are made as of the date of this release, and except as may be expressly be required by law, EverGen disclaims any intent, obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

EverGen Investors
Kelly Castledine
416-576-8158
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EverGen Media
Katie Reiach
604.614.5283
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HOUSTON--(BUSINESS WIRE)--Texas LNG Brownsville LLC (“Texas LNG”), a four million tonnes per annum (“MTPA”) liquefied natural gas (“LNG”) export terminal to be constructed in the Port of Brownsville, Texas owned by Glenfarne Group, LLC (“Glenfarne”), is pleased to announce it has executed an agreement with Technip Energies USA, Inc. (“Technip Energies”) and Samsung Engineering Co., Ltd (“Samsung Engineering”) to lead the delivery of the facility via a joint venture.

Technip Energies, a leading technology and global engineering, procurement, construction and project management company that has delivered more than 20 percent of worldwide operating LNG capacity, will partner with Samsung Engineering, a global engineering, procurement, construction and project management firm who also holds a minority equity interest in Texas LNG. Under a project financeable structure, the two companies will be responsible for all facets of the liquefaction facility’s delivery including engineering, construction coordination, start-up, and commissioning.

“We’re proud to have selected such preeminent businesses as Technip Energies and Samsung Engineering to build our Texas LNG export facility,” said Glenfarne CEO and Founder Brendan Duval. “With the help of these partners, Texas LNG will be one of the cleanest LNG export facilities in the world, powered by renewable energy and providing access to secure energy supply for economies across the world.”

“We’re looking forward to supporting Texas LNG in its promise to provide environmentally-responsible, clean natural gas using our all electric, emissions free, SnapLNG™ design to its customers around the world,” said Loic Chapuis, SVP Gas and Low Carbon Energies, Technip Energies. “Our team of world-class LNG project engineers, working jointly with Samsung Engineering, will ensure that the facility will be capable of safe, reliable, and efficient natural gas export to global markets.”

“Our team is excited to partner with Technip Energies and leverage our combined capabilities to drive the successful completion of this important project,” said Cheonhong Park, EVP and Head of Solution Business Division of Samsung Engineering. “The combined resources of our two leading companies will be able to deliver excellence to Texas LNG and its global customers.”

“Texas LNG will be one of the greenest LNG facilities globally with its innovative ‘green by design’ strategy that uses renewable energy to power the entire liquefaction process. In addition, Texas LNG is exploring partnerships with other like-minded companies to ensure that the upstream resources coming to the plant are responsibly produced,” said Vlad Bluzer, Managing Director of Glenfarne and President of the Company’s LNG business.

Glenfarne, a developer, owner, and operator of energy transition infrastructure, is the majority owner and managing member of Texas LNG. Texas LNG expects to achieve a final investment decision in 2022 and commence commercial operations in 2026. Glenfarne is also the sole owner and developer of the 8.8 MTPA Magnolia LNG in Lake Charles, Louisiana.

About Texas LNG
Texas LNG is a four MTPA modularized natural gas liquefaction and export facility that is located in South Texas on the Port of Brownsville’s deep water ship channel with pipeline access to the vast Permian and Eagle Ford gas basins. It is permitted by FERC and has both FTA and non-FTA export authorizations from the DOE.

Glenfarne is the developer and majority owner of Texas LNG, and Samsung Engineering Co., Ltd. is an indirect minority equity owner and strategic partner to Texas LNG.

Additional information about the Texas LNG Project may be found on its website at www.texaslng.com.

About Glenfarne Group, LLC
Glenfarne is a privately held energy and infrastructure development and management firm based in New York City and Houston, with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Florianopolis, Brazil; Seoul, South Korea; and Ho Chi Minh City, Vietnam. Glenfarne’s seasoned executive team, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America, Asia and Europe. For more information, please visit www.GlenfarneGroup.com.

About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering. Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over the counter in the United States. For further information: www.technipenergies.com.

About Samsung Engineering
At Samsung Engineering, we aim to create value based on the world’s best technological competence and contribute to our clients, society and people. Samsung Engineering as one of the world’s leading EPC&PM companies, has served clients in a variety of industries such as oil-refining, gas-processing, petrochemicals, infra-structure & environmental sector and bio-industry. Providing professional services across the whole project cycle ranging from professional feasibility-studies to design, procurement, construction, commissioning, maintenance & operation. Samsung Engineering has completed more than 1,000 projects worldwide.

To prepare for ESG-based eco-friendly businesses for the future, we expanded our value chain to the business of operating green infrastructure, such as water treatment facilities and incinerators, and green solution business for energy optimization and carbon neutrality. To preemptively respond to changes in the global energy industry and take the lead in resolving global warming, we will provide optimal solutions based on our technologies and expertise. For more information, please visit: www.samsungengineering.com.

Kris Cole
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BOSTON--(BUSINESS WIRE)--SES AI Corporation (NYSE: SES), a global leader in the development and manufacturing of high-performance lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications will participate in the upcoming Citi Lithium and Battery Virtual Day conference on May 26, 2022. Founder and Chief Executive Officer, Qichao Hu, will be presenting as well as participating in group meetings at the conference.

SES’s presentation is scheduled for 12:30 PM – 1:05 PM ET on Thursday May 26, 2022. A live webcast of the presentation can be accessed via this link: https://kvgo.com/citi-2022-lithium-and-battery-virtual-day/ses-ai-corp-may or by visiting the Investor Relations section of SES’s website at investors.ses.ai. A replay of the event will be available about 12 hours after the event ends.

About SES

SES is a global leader in development and production of high-performance Li-Metal rechargeable batteries for electric vehicles (EVs) and other applications. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms and recycling. Formerly known as Solid Energy Systems, SES is headquartered in Boston and has operations in Singapore, Shanghai, and Seoul. To learn more about SES, please visit: ses.ai/investors/

SES may use its website as a distribution channel of material company information. Financial and other important information regarding SES is routinely posted on and accessible through the Company’s website at www.ses.ai. Accordingly, investors should monitor this channel, in addition to following SES’s press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

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BELMONT, N.C.--(BUSINESS WIRE)--Piedmont Lithium Inc. (“Piedmont” or the “Company”) (NASDAQ: PLL; ASX: PLL), a leading, diversified developer of lithium resources required to enable the U.S. electric vehicle supply chain, today announced that Piedmont’s partner, Sayona Mining (ASX:SYA), recently published a prefeasibility study (“NAL PFS” or the “NAL Study”) for the restart of spodumene concentrate operations at the North American Lithium Project in Quebec (“NAL”). The NAL PFS contemplates average annual production of approximately 168,000 tonnes per year of 6% spodumene concentrate over a mine life of 27 years. The NAL Study highlights estimated competitive cash operating costs and an estimated capital cost for the mine and concentrator restart of approximately US$80 million.

Piedmont and Sayona acquired the previously-producing NAL operations in August 2021. Following the positive results of the NAL Study, the partners expect to proceed with full capital expenditure authorization. According to Sayona’s study results, operations could recommence in the first half of 2023.

Importantly, the NAL Study has identified a number of de-bottlenecking and process improvements within the spodumene concentrator which will improve operational availability, lithium recovery, and product quality. Process improvements include equipment upgrades in the crushing plant, additional crushed ore storage, expanded ore sorting, iron removal processing equipment, and upgrades to the flotation circuit and product dewatering processes. Operations are expected to be converted to dry-stacked tailings over time.

Piedmont owns a 25% project interest in the NAL and Authier Projects via its equity stake in Sayona Quebec as well as its equity interest of approximately 16.5% in Sayona Mining. With the publication of the NAL PFS, Piedmont will now begin to explore marketing options for its share of spodumene concentrate production contemplated in its offtake agreement with Sayona, which provides Piedmont with the right to purchase the greater of 50% of production or 113,000 metric tonnes per year from the NAL Project.

“The proposed restart of production at North American Lithium in the first half of 2023 represents the next step in helping Piedmont achieve its vision of becoming the leading lithium hydroxide producer in North America,” said Piedmont COO, Patrick Brindle. Mr. Brindle added, “We are happy and excited for our partners. Sayona Quebec is one of the largest and best-located spodumene businesses in Canada and, as a past-producer with the bulk of plant and equipment in place, we believe is also the most advanced. Piedmont is committed to funding our share of the NAL restart capital, and we look forward to working with Sayona to formalize the full authorization of the NAL restart project in the coming weeks in order to achieve first production in the first half of 2023.”

The statements in the link below were prepared by, and made by, Sayona. The following disclosures are not statements of Piedmont and have not been independently verified by Piedmont. Sayona is not subject to U.S. reporting requirements or obligations, and investors are cautioned not to put undue reliance on these statements. Sayona’s original announcement can be found here.

About Piedmont Lithium

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our wholly-owned Carolina Lithium and LHP-2 Projects in the United States and partnerships in the Abitibi Hub in Quebec with Sayona Mining (ASX:SYA) and in Ghana together with Atlantic Lithium (AIM:ALL). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward decarbonization and the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, and construction activities of Sayona and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; strategy; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont or Sayona will be unable to commercially extract mineral deposits, (ii) that Piedmont’s or Sayona’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Quebec and Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this presentation and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this presentation. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are terms defined by the U.S. Securities and Exchange Commission (“SEC”) in Regulation S-K, Item 1300 (“S-K 1300”) as well as the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”) and the Canada Securities Administrators National Instrument 43-101 Standards for Disclosure for Mineral Projects (“NI 43-101”). In Sayona’s announcement, it indicates that it has prepared resources information in accordance with the standards set forth in the 2012 Edition of the JORC Code and NI 43-101. Such standards differ from the requirements of U.S. securities laws that would apply if Sayona were a reporting company in the United States. Therefore, the mineral resources reported by Sayona Mining are not be comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. U.S. investors are urged to consider closely the context and nature of Sayona’s disclosures in its public communications, as well as the disclosure in Piedmont’s Form 10-KT, a copy of which may be obtained from Piedmont or from the EDGAR system on the SEC’s website at http://www.sec.gov/.

Keith Phillips
President & CEO
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• Globally, dividends surged 11% to $302.5bn, a first quarter record; underlying growth was even stronger at 16.1%
• Every sector posted dividend increases, with particular strength in oil and mining sectors

DENVER--(BUSINESS WIRE)--Dividend payments in the US rose 10.4% on an underlying basis to a new record of $141.6bn during the first quarter of the year, according to the latest Janus Henderson Global Dividend Index. Nearly every US company in the Index (99%) increased their payments or held them steady, as dividends continued to be a reliable source of income growth for shareholders.

Globally, first quarter dividends jumped by 11% on a headline basis to a total of $302.5bn, also a record for the seasonally quieter first three months of the year. Underlying growth was even stronger at 16.1%. Janus Henderson’s analysis shows that dividends have more than doubled since 2009, when the Index launched.

The global growth is in part due to the ongoing normalization of dividend payments following the disruption caused by the pandemic. There were significant dividend cuts in Q1 2021, so it provides a relatively low base for comparison purposes. However, the Q1 2022 growth also reflects the robust post-pandemic economic rebound that took place in much of the world in 2021 and into early this year. Globally, 81% of companies that issued payouts in the first quarter increased their dividends year-over-year and another 13% held them steady.

Upgraded forecast

Janus Henderson is maintaining its expectations for the remaining quarters of the year given the uncertain global economic outlook and rising geopolitical risks. Nevertheless, the inclusion of the robust Q1 numbers increases the forecast slightly for the year. For 2022, Janus Henderson now expects global dividends to reach $1.54 trillion, a headline increase of 4.6%, equivalent to a 7.1% increase on an underlying basis.

Miners will continue to be a significant dividend contributor in 2022

Globally, every sector posted year-over-year increases. Among the major sectors, oil and mining dividends saw the fastest growth in the first quarter. Mining payouts jumped 29.7% on a headline basis, which in this case is currently a better measure than our underlying figure (+38.0%), given the recent importance of one-off special dividends for this highly cyclical sector. BHP is set to be the world’s largest dividend payer in 2022 for the second year running.

Over the last five years, the world’s five most important dividend-paying sectors have been banks, oil producers, pharmaceuticals, telecoms, and insurance companies. Miners were seventh over the whole five years, but last year rose to third. It is clear miners will continue to be a significant contributor in 2022, potentially paying more than $100bn in dividends for the first time. Both oil and metal prices have been propelled higher following the Russian invasion of Ukraine, helping to sustain dividend growth in these sectors for the time being.

Matt Peron, Director of Research at Janus Henderson said:

“As the US corporate earnings picture improved, companies rewarded shareholders with higher dividend payments to start 2022. With rising inflation and interest rates expected to put pressure on economic growth globally, greater uncertainty is clouding the outlook for corporate profits in the second half of the year. However, it’s important to keep in mind that dividend payments are much less volatile than earnings.”

Notes to editors

Our headline growth rate simply describes the change in the total dollar amount paid by companies compared to the corresponding quarter each year. Our underlying figure adjusts for the distortion that can be caused by one-off special dividends, changing exchange rates, the effect of companies entering and leaving the global top 1,200 that comprise our index and the impact of changes in payment dates. The latter two tend to be negligible over the course of a whole year at the global level, though they can have a greater impact in any one quarter, geography or sector.

About Janus Henderson

Janus Henderson Group is a leading global active asset manager dedicated to helping investors achieve long-term financial goals through a broad range of investment solutions, including equities, fixed income, multi-asset and alternative asset class strategies.

At 31 March 2022, Janus Henderson had approximately US$361 billion in assets under management, more than 2,000 employees, and offices in 23 cities worldwide. Headquartered in London, the company is listed on the NYSE and the ASX.

This press release is solely for the use of members of the media and should not be relied upon by personal investors, financial advisers or institutional investors. We may record telephone calls for our mutual protection, to improve customer service and for regulatory record keeping purposes.

Issued by Janus Henderson Investors. Janus Henderson Investors is the name under which investment products and services are provided by Janus Henderson Investors International Limited (reg no. 3594615), Janus Henderson Investors UK Limited (reg. no. 906355), Janus Henderson Fund Management UK Limited (reg. no. 2678531), Henderson Equity Partners Limited (reg. no.2606646), (each registered in England and Wales at 201 Bishopsgate, London EC2M 3AE and regulated by the Financial Conduct Authority) and Henderson Management S.A. (reg no. B22848 at 2 Rue de Bitbourg, L-1273, Luxembourg and regulated by the Commission de Surveillance du Secteur Financier). Henderson Secretarial Services Limited (incorporated and registered in England and Wales, registered no. 1471624, registered office 201 Bishopsgate, London EC2M 3AE) is the name under which company secretarial services are provided. All these companies are wholly owned subsidiaries of Janus Henderson Group plc. (incorporated and registered in Jersey, registered no. 101484, with registered office at 13 Castle Street, St Helier, Jersey, JE1 1ES).

Janus Henderson, Knowledge Shared and Knowledge Labs are trademarks of Janus Henderson Group plc or one of its subsidiaries. © Janus Henderson Group plc.

Press Inquiries
Janus Henderson Investors

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Award is the Next Step in Offering EVgo Fleet Charging Solutions to the Federal Fleet as they Start to Electrify up to 650,000 Vehicles

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO), a first mover in fleet electrification and owner and operator of the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, and OSC~WEBco, a leading global provider of comprehensive, fully integrated solutions to the Federal Government announced today that they have been awarded participation in a new five-year Blanket Purchase Agreement (BPA) with the United States General Services Administration (GSA) to furnish Electric Vehicle Supply Equipment (EVSE) and ancillary services. This BPA is the next step in a process for EVgo to offer a variety of fast charging and level 2 charging solutions for federal fleet vehicles across government agencies, the military, and more.

OSC~WEBco, with EVgo as a subcontractor, is one of only 16 awardees, and one of two awarded Veteran-Owned Small Businesses for this BPA round. The Combined OSC~WEBco EVgo team’s products and services include charging solutions to fit a wide range of fleet charging needs, including Level 2 and DC fast charging stations, as well as network and operations/maintenance plans, site planning and preparation, power management, metering and basic install assistance.

OSC~WEBco and EVgo are well positioned to provide the products and services required to support this critical infrastructure for Federal Fleet electrification. The team’s EVSE products, as well as ordering resources will be published on the GSA Multiple Award Schedule (MAS) and GSA EVSE webpages in the coming weeks.

With the BPA, federal agencies and approved government buyers will be able to work with EVgo and OSC~WEBco to plan, build and install charging stations for their fleets without lengthy procurement processes.

“EVgo knows that partnership is critical to getting fleets electrified and teaming up with OSC~WEBco to offer charging solutions to the federal fleet is a winning proposition,” said Cathy Zoi, CEO of EVgo. “From rideshare and autonomous vehicles to delivery and soon federal fleets, EVgo is positioned to help everyone take advantage of the benefits of driving electric.”

According to the GSA FY20 Federal Fleet Report, U.S. Federal Fleet includes over 650,000 vehicles and consumed 372 million gallons of gasoline in 2020. Less than 3% of the fleet is currently electric. While the U.S. Government currently owns about 1,100 charging stations, supporting an electric Federal Fleet could require more than 100,000 additional stations over the next decade, per testimony from the Government Accountability Office (GAO.)

The Biden-Harris administration is working to transition the entire federal fleet to zero-emission vehicles, with targets of 100% zero-emission vehicle acquisitions by 2035 and 100% zero-emission light-duty vehicle acquisitions by the end of fiscal year 2027. The administration’s proposed budget for FY23 includes $300 million for GSA and $457 million for other agencies to help facilitate this goal.

Visit GSA’s Sustainability Priorities website for more information about how GSA is advancing the administration's sustainability priorities.

About OSC~WEBco: OSC~WEBco is a worldwide sales, marketing and logistics company dedicated to the U.S. Government Market. Founded in 1947, OSC~WEBco fields a diverse global workforce outfitted with state-of-the-art systems to provide consistent superior service for its Federal Government customers.

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

EVgo:
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Commencement of eCombustible’s Commercial Operations on Track in 2022 with Customers Pamesa Group, Anglo American and Additional Blue-Chip Companies

eCombustible Received $11.2 Million Strategic Investment from Pamesa Group in Connection with Entry into a $500 Million Follow-On Contract with Pamesa Group for eCombustible’s Hydrogen-based Fuel Supply in Spain

Awarded Construction and Environmental Permit for Fuel Supply Modules at Global Mining Company Anglo American Nickel Mine in Brazil – Marks First Governmental Approval in Brazil

Business Combination Remains on Track to Close in the Third Quarter of 2022

MIAMI--(BUSINESS WIRE)--Benessere Capital Acquisition Corp. (NASDAQ: BENE), a publicly traded special purpose acquisition company ("Benessere"), and eCombustible Energy LLC, an innovator and provider of customizable hydrogen-based fuel for thermal industrial applications ("eCombustible" or "eCombustible Energy") today announced that Benessere’s board of directors has set the close of business on June 3, 2022 as the record date (the "Record Date") for Benessere’s special meeting of its stockholders to be held to, among other things, vote on the proposed business combination (the "Business Combination") among Benessere, eCombustible, BCAC Holdings Inc., a holding company formed for purposes of effecting the Business Combination ("BCAC Holdings"), BCAC Purchaser Merger Sub Inc. and BCAC Company Merger Sub Inc. Stockholders of record as of the close of business on the Record Date will be entitled to vote their shares at the special meeting.

A proxy statement/prospectus relating to this special meeting, as well as the registration statement of BCAC Holdings of which it forms a part (the "Registration Statement"), has not been finalized or declared effective. Once final and effective, the proxy statement/prospectus will be mailed together with a proxy card to Benessere’s stockholders and will include the date, time and location of the special meeting.

Completion of the Business Combination, which is expected to occur in the third quarter of 2022, is subject to regulatory approval, a declaration of effectiveness of the Registration Statement that has been filed with the Securities and Exchange Commission ("SEC"); the approval of the Business Combination by Benessere's stockholders and eCombustible’s unitholders, respectively; and other customary closing conditions. Benessere’s Class A common stock, rights and warrants to purchase Class A common stock currently are listed on the Nasdaq Capital Market under the symbol "BENE", "BENER" and "BENEW", respectively. Upon completion of the Business Combination, BCAC Holdings will change its name to eCombustible Energy Corporation and shares of its common stock and public warrants are expected to be listed on the Nasdaq Global Market under the ticker symbols "ECEC" and "ECECW", respectively. Please see below under "Additional Information and Where to Find It" for more information about the Registration Statement, and the accompanying proxy statement/prospectus.

Expected Milestones to Completion of the Business Combination Include:

• Stockholder meeting – Q3 2022
• Business combination close – Q3 2022
• Listing on Nasdaq Capital Market under new ticker symbol "ECEC" – Q3 2022

Proposed Business Combination Highlights

• Deal is designed to accelerate eCombustible Energy's go-to-market strategy
• eCombustible Energy is introducing its customizable hydrogen-based fuel production technology that it intends will provide on-site fuel delivery under long-term fuel supply agreements
• eCombustible Energy's fuel technology is expected to be applicable to a large variety of stationary thermal applications, has been designed to require little to no modification to customers' existing thermal power equipment (e.g., boiler or kiln), and the eCombustible fuel contains no carbon
• eCombustible Energy’s business model provides for development of fuel production modules which are expected to be built, installed, owned, operated, and maintained onsite by eCombustible Energy
• Global organizations in the mining, steel, tile, beverage, hospitality and tire sectors have shown interest in the eCombustible fuel solution, with several customers under contract
• Securityholders of eCombustible Energy are to receive shares of common stock with a value of $805 million, subject to adjustment, plus an earnout of up to 59 million additional shares, assuming certain price targets are achieved and maintained
• Combined company common stock is expected to trade on Nasdaq under the symbol "ECEC"; the transaction is subject to stockholder approval and other customary closing conditions

Proposed Business and Operational Highlights

eCombustible believes the commencement of commercial operations in 2022 will afford an opportunity to demonstrate its ability to deliver a carbon-free, cost-effective alternative fuel source that provides clients with a path to energy independence while also supporting achievement of clients’ ESG goals. eCombustible has achieved the following milestones in commercializing its technology:

• As announced on April 5, 2022, eCombustible received an $11.2 million strategic investment from, and also signed a 10-year follow-on contract with, Pamesa Groupo Empresarial, S.L. ("Pamesa Group") with potential revenue of $500 million to increase the use of eCombustible fuel at their ceramic products factories in Spain.
  • Pamesa Group is one of the largest consumers of natural gas in Spain, and one of the top five in Europe, is looking to meet the environmental requirements of the European Union, which is targeting to reduce CO2 emissions by up to 55% by 2030, compared to 1990 levels.
  • Increases a previous commercial order to replace natural gas consumption with the supply of eCombustible fuel from the company's patented fuel supply modules.
• As announced on March 21, 2022, eCombustible was awarded a construction and environmental permit for fuel supply modules at global mining company Anglo American’s nickel mine in Brazil as part of a partnership to support Anglo American’s carbon neutrality commitment.
  • Permit covers construction and environmental approvals for eCombustible’s Anglo American three phased project. Phase 1 covers a seven-year supply contract to replace Liquefied petroleum gas (LPG) in pellet dryers at the mine, with Phases 2 and 3 expected to include replacing heavy fuel oil and pulverized coal in kilns for a total of up to 563,000 MMBTU/month or 225 MW of energy, subject to negotiation of definitive documentation.
• A high-quality customer base led by Pamesa Group and several additional blue-chip companies, representing recurring contracted revenue streams that will commence upon initiation of commercial operations, currently anticipated to begin in the second half of 2022.
• Should the initial rollout of these projects prove successful, eCombustible may seek second and third phase projects from its existing customers.
• eCombustible’s first client installations are in building products, tile production, mining and beverage production, with targeted expansion anticipated in these and other sectors such as tires, cement and steel.
• Patented technology developed over 12 years that provides a carbon free, cost-competitive solution that is designed to be customized for most existing stationary thermal equipment.
• A build / own / operate model that is supported by long-term contracts with large industrial customers.

About Benessere

Benessere is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Benessere's strategy is to identify and complete business combinations with technology-focused middle market and emerging growth companies in North, Central and South America. For more information, please visit www.benespac.com.

About eCombustible

eCombustible Energy offers a long-term fuel supply solution that is designed to provide the world's most fossil-fuel dependent industries with a fuel that is carbon-free, cost-competitive, and requires little to no modification to existing customer equipment. The efficacy of its hydrogen-based fuel, eCombustible, has been validated through testing and independent assessments by third-party engineering firms. For more information visit www.ecombustible.com.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the federal securities laws, including (without limitation) statements regarding the potential benefits of the proposed Business Combination, the potential benefits and value of contracts and projects to eCombustible and to customers, the expectations of eCombustible regarding the potential value of contracts and its fuel and technology, the anticipated timing of pre-commissioning or commercial start, the belief that the projects will help customers meet some of their sustainability goals, eCombustible’s expectations regarding the scope of customer projects, and the potential benefits and attributes of eCombustible’s solution and technology. These forward-looking statements are generally identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.

Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including, but not limited to, the following factors: the risk that the proposed Business Combination (as defined below) may not be completed in a timely manner, or at all; the risk that the proposed Business Combination disrupts current plans and operations of eCombustible; changes in the energy markets in which eCombustible competes, including with respect to its competitive landscape, technology evolution or regulatory changes, or changes in domestic and global general economic conditions; the risk that eCombustible is not able to recognize revenue for its solutions under existing contracts or secure additional contracts that generate revenue; the risk of contract cancellation, amendment or decisions not to implement additional phases of projects; risks related to changes in fuel prices; the risk that eCombustible may not be able to execute its business strategy; risks related to the ongoing COVID-19 pandemic and response; costs related to the Business Combination and the failure to realize anticipated benefits of the Business Combination; risks related to competition in the markets in which eCombustible competes and intends to compete; risks related to the early stage of eCombustible’s business and its technology; eCombustible’s ability to obtain capital necessary in order to perform its services; costs associated with providing eCombustible fuel; risks related to market acceptance of eCombustible’s solution; the ability of eCombustible’s technology to perform as intended; and those factors that are or will be contained in the Registration Statement (as defined below) relating to the proposed Business Combination.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that are or will be described in Benessere Capital Acquisition Corp’s ("Benessere") Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q, the "Risk Factors" section of the Registration Statement and other documents to be filed by BCAC Holdings, Inc. and/or Benessere from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements. eCombustible disclaims any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Additional Information and Where to Find It

In connection with the proposed business combination among Benessere, eCombustible and BCAC Holdings, Inc. and its wholly owned subsidiaries, and which we refer to as the "Business Combination," BCAC Holdings has filed with the U.S. Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 (File No. 333-262669) (the "Registration Statement"). This Registration Statement includes a document that serves as a preliminary prospectus of BCAC Holdings and a preliminary proxy statement of Benessere and is referred to as a proxy statement/prospectus. The Registration Statement has not become effective. Following the Registration Statement having been declared effective by the SEC, a final prospectus/definitive proxy statement and other relevant documents will be mailed to Benessere's stockholders as of a record date to be established for voting on the proposed Business Combination. This communication is not a substitute for the Registration Statement, the final prospectus/definitive proxy statement or any other document that BCAC Holdings has or will file with the SEC, or that Benessere has or will file with the SEC or send to its stockholders, in connection with the proposed Business Combination. Before making any voting or investment decision, investors and security holders of Benessere, eCombustible and BCAC Holdings are advised to read the Registration Statement, all other relevant documents filed or that will be filed with the SEC in connection with the proposed Business Combination, because these documents will contain important information about the proposed Business Combination and the parties to the proposed Business Combination. Investors, security holders and other interested persons will also be able to obtain copies of the Registration Statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by BCAC Holdings or Benessere, free of charge, through the website maintained by the SEC at www.sec.gov.

Participants in the Solicitation

Benessere, eCombustible, BCAC Holdings, and certain of their respective directors and officers, under SEC rules, may be deemed to be participants in the eventual solicitation of proxies of Benessere's stockholders in connection with the proposed Business Combination. Information concerning the interests of Benessere's, eCombustible's and BCAC Holdings' participants in the solicitation, which may, in some cases, be different than the interests of Benessere's, eCombustible's and BCAC Holdings' stockholders and equity holders generally, is set forth in the proxy statement/prospectus contained in the Registration Statement relating to the Business Combination.

Prospective investors and security holders may obtain more detailed information regarding the names and interests in the proposed Business Combination of such individuals in BCAC Holdings' filings with the SEC, including the Registration Statement, and Benessere's filings with the SEC, including its Form 10-K filed with the SEC on April 12, 2022. To the extent that holdings of Benessere's securities have changed since the amounts in Benessere's Annual Report on Form 10-K, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Such information will also be contained in the final prospectus/definitive proxy statement when available. You may obtain free copies of these documents from the source indicated in the paragraph above.

No Offer or Solicitation

This communication does not constitute (i) a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Business Combination or (ii) an offer to sell, a solicitation of an offer to buy, or a recommendation to buy any security of eCombustible, Benessere, BCAC Holdings or any of their respective affiliates. There shall not be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the laws of any such jurisdiction.

INVESTOR RELATIONS CONTACT
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
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NEWBURY PARK, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQB: KGEIF – (temporarily: KGEID)) is pleased to announce that the Barnes 8-4H well (99.8% working interest) has averaged 605 Barrels of oil equivalent per day (BOEPD), of which 515 barrels are oil, for the first 30 days of initial production (“IP30”). The well is located in the Company’s Tishomingo field in Oklahoma.

Wolf Regener, President and CEO, commented, “I am pleased to report that our latest well continues to perform exceptionally well. The Barnes 8-4H well has averaged 615 BOEPD (517 BOPD) over the last 7 days of production. The well wasn’t optimized until last week due to the workover rig being delayed on its previous job. To put the performance of this well in perspective, the 30-day proved forecast curve case IP30 utilized by our third-party engineering firm for our reserve report is 388 BOEPD (“Reserve Report IP30”) and the initial 30-day rate from the type curve utilized by the Company’s management assumes a 472 BOEPD IP30 rate (“Management IP30"). The Barnes 8-4H IP30 rate is 56 percent higher than the Reserve Report IP30 and 28 percent higher than the Management IP30. The Company’s management type curve generates a 145% Internal Rate of Return at a $100 a barrel oil price. The Barnes 8-4H has an early production rate similar to the Glenn 16-2H well. The Glenn 16-2H is projected to produce 765,000 barrels of oil equivalents (BOEs) based on our third-party engineering firm estimates.”

About Kolibri Global Energy Inc.

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

Cautionary Statements

In this news release and the Company’s other public disclosure: The references to barrels of oil equivalent ("Boes") reflect natural gas, natural gas liquids and oil. Boes may be misleading, particularly if used in isolation. A Boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves. The type curve utilized by the Company’s management is the average of the 7 Caney wells that are located in the Corridor (well names can be found on the Company’s Corporate presentation), with lateral lengths normalized to a 4,900 ft lateral length, the other assumptions are the same as in the Company’s December 31, 2021 independent reserves evaluation.

Readers should be aware that references to initial production rates and other short-term production rates are preliminary in nature and are not necessarily indicative of long-term performance or of ultimate recovery. Readers are referred to the full description of the results of the Company's December 31, 2021 independent reserves evaluation and other oil and gas information contained in its Form 51-101F1 Statement of Reserves Data and Other Oil and Gas Information for the year ended December 31, 2021, which the Company filed on SEDAR on March 8, 2022.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws and “forward-looking statements” within the meaning of United States securities laws (collectively, “forward looking information”), including statements regarding the timing of and expected results from planned wells development, a projected Internal Rate of Return and estimated production. Forward-looking information is based on plans and estimates of management and interpretations of data by the Company's technical team at the date the data is provided and is subject to several factors and assumptions of management, including that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, management’s assumption of a 472 BOEPD IP30 rate for the initial 30-day type curve, $100 a barrel oil price, that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, including flooding and extended interruptions due to inclement or hazardous weather conditions, equipment failures, permitting delays or labor or contract disputes are encountered, that the necessary labor and equipment will be obtained, that the development plans of the Company and its co-venturers will not change, that the offset operator’s operations will proceed as expected by management, that the demand for oil and gas will be sustained, that the price of oil will be sustained or increase, that the Company will continue to be able to access sufficient capital through financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that equipment failures, permitting delays, labor or contract disputes or shortages of equipment or labor are encountered, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and extended interruptions due to inclement or hazardous weather conditions), the risk of commodity price and foreign exchange rate fluctuations, that the offset operator’s operations have unexpected adverse effects on the Company’s operations, that completion techniques require further optimization, that production rates do not match the Company’s assumptions, that very low or no production rates are achieved, that the price of oil will decline, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at www.sedar.com, any of which could result in delays, cessation in planned work or loss of one or more concessions and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

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

NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity Corporation (NYSE:NGVT) today published its 2021 sustainability report highlighting advancements in the company’s environmental, social and governance (ESG) goals, long-term vision for operating sustainably and ongoing commitment to delivering renewably sourced and biodegradable products that assist customers and end users with reducing ecological impact.

“Ingevity has been living and breathing sustainability for 100 years,” said president and CEO, John Fortson. “It’s born of our renewable raw material heritage and exemplified in our environmental stewardship and will continue to serve as a competitive advantage propelling future growth as an innovation-driven solutions provider.”

The report provides information on 2021 activity, focusing on key sustainability drivers for long-term value creation for customers, employees and investors. Additional features in this report include:

• Highlight on ESG certifications for Ingevity products addressing global pollution issues, including the OK Biodegradable MARINE certification for Capa® thermoplastics
• Advancement to top-quartile rating from third-party ESG assessment
• Ingevity’s energy policy and membership in the United Nations Global Compact
• Report on diversity, equity and inclusion programs embedded within the company and in outreach efforts

“We believe deeply in safeguarding the health of our planet for future generations,” said Fortson. “By creating solutions that purify, protect and enhance the lives of our employees, customers and communities, we’re protecting our environment and taking an active role in advancing important global sustainability goals to improve our world.”

Ingevity’s 2021 report is governed by its material issues, stakeholder interests, business priorities and the requirements of the Global Reporting Initiative’s Standards, core option, and is aligned with the Sustainability Accounting Standards Board (SASB) standard for chemicals. Ingevity self-certifies the information contained in the index and data appendix is as accurate and inclusive as possible as reflected by the management systems that were in place prior to January 1, 2022. The report and further information on the company’s sustainability initiative can be found here.

Ingevity: Purify, Protect and Enhance

Ingevity provides products and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in two reporting segments: Performance Chemicals, which includes specialty chemicals and engineered polymers, and Performance Materials, which includes high-performance activated carbon. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks, coatings, elastomers, bioplastics and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 25 locations around the world and employs approximately 1,850 people. The company is traded on the New York Stock Exchange (NYSE:NGVT). For more information visit ingevity.com.

Caroline Monahan
843-740-2068
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Investors:
John Nypaver
843-740-2002
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On-chain Carbon Market Infrastructure Will Help Scale the Voluntary Carbon Market

NEW YORK--(BUSINESS WIRE)--#blockchain--Flowcarbon, a pioneering climate technology company working to build market infrastructure in the voluntary carbon market (VCM), today announced it has raised a total of $70M in venture capital funding and sale of its carbon-backed token. The funding round was led by a16z crypto and also includes General Catalyst, Samsung Next, Invesco Private Capital, 166 2^nd, Sam and Ashley Levinson, Kevin Turen, RSE Ventures, and Allegory Labs. Other participants in the token sale include Fifth Wall, Box Group, and the Celo Foundation.

Flowcarbon’s mission is to drive billions of dollars directly to projects that reduce or remove carbon from the atmosphere by creating the first open protocol for tokenizing live, certified carbon credits from projects around the globe. Demand for carbon credits has surged in recent years among corporations that use them to offset carbon emissions, but the ability to scale the volume of credits available has been limited by the VCM’s opaque and fractured market infrastructure. Through Flowcarbon’s protocol, project developers can immediately access a marketplace of buyers interested in their credits by bringing them onto the blockchain. Buyers are then able to purchase live carbon credits directly from project proponents.

“There are powerful economic incentives to destroy and degrade critical natural landscapes around the world, but the voluntary carbon market is a brilliant financial mechanism that creates a counterbalancing incentive to reforest, revitalize and protect nature,” said Dana Gibber, CEO of Flowcarbon. “We have a big vision and the stakes are high. We are thrilled to be partnering with the most thoughtful investors in the world, who bring a combined expertise in web3 and key market categories including manufacturing, technology, entertainment and real estate,” added Gibber.

Flowcarbon has engaged an extensive group of stakeholders from the voluntary carbon market to inform the company’s tokenization protocol design, optimizing for environmental, financial and structural integrity. Flowcarbon’s first carbon-backed token, called the Goddess Nature Token (GNT), is designed to maximize value and utility for buyers. GNT is backed by a bundle of certified credits issued over the last five years from nature-based projects, tracking popular corporate demand criteria and offering widespread exposure to corporate-quality credits. Each token can be retired as an offset, sold, used for borrowing and lending, or redeemed for an underlying real-world credit.

“The carbon market is extremely opaque and we believe demand for offsets is rapidly outpacing the speed at which supply can be increased, especially for nature-based projects,” said Arianna Simpson, General Partner at a16z crypto. “Tokenization is an obvious solution. We've explored the on-chain carbon space extensively and feel confident that Flowcarbon’s team and model are best in breed.”

To date, the company has made significant partnership announcements including its revolutionary collaboration with the Centrifuge protocol, which will unlock the debt markets for carbon project developers, as well as its collaboration with the Layer 1 blockchain Celo, to provide $10 million of GNT to offset Celo’s emissions. Flowcarbon’s GNT token will launch on Celo.

Flowcarbon was co-founded by Dana Gibber, Caroline Klatt, Rebekah Neumann, Adam Neumann, and Ilan Stern, and is run by Gibber (CEO), Klatt (COO) and Phil Fogel (Chief Blockchain Officer). Flowcarbon currently has 35 employees with collective expertise in carbon, sustainability, and blockchain technology. Flowcarbon has offices in New York, Montana and Berlin.

About Flowcarbon
Flowcarbon is a pioneering climate technology company that brings carbon credits onto the blockchain. Its mission is to make carbon markets accessible and transparent, enabling billions of dollars to be invested directly into projects that combat climate change. Flowcarbon is committed to driving real impact for people, biodiversity, and the planet.

About a16z crypto
a16z crypto backs bold entrepreneurs building the next internet. With more than $3B under management across three funds, the a16z crypto fund invests in web3 companies and protocols from early seed-stage projects to fully-developed networks. Its crypto-native team supports founders and the growth of web3 through its research organization, engineering and security teams, legal and regulatory teams, go-to-market expertise, recruiting services, educational content, and more.

Media
Nicole Shore
Head of Communications, Flowcarbon
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Digital solutions help Toyota incorporate sustainable fuel generation

AUSTIN, Texas--(BUSINESS WIRE)--Global software and technology leader Emerson (NYSE: EMR) and Toyota Australia have collaborated to transform part of Toyota Australia’s operations into a commercial-grade hydrogen production, storage and refueling plant. The project, supported by the Australian Renewable Energy Agency (ARENA), adopts Emerson’s automation expertise to provide the control system that helps Toyota Australia demonstrate the technical and economic feasibility of manufacturing hydrogen fuels, including the use of renewable solar energy.

As low and zero-emission vehicles capture an ever-greater share of the market, countries around the globe need to expand access to renewable fuels like hydrogen. Sustainable hydrogen projects are challenging because they need to integrate many data sources into one balance-of-plant system, a process that’s critical for a facility’s success. For the Toyota Australia Hydrogen Center, Emerson’s advanced DeltaV™ distributed control system gathers data from the plant’s complex equipment, making it easier to monitor production and storage of hydrogen gas and document and validate the sustainability of operations.

“By incorporating a digital automation foundation to eliminate data silos, Toyota Australia can not only significantly reduce costs, but also gain greater visibility into system performance, making it easier to maintain and report sustainability performance and increase productivity,” said Mark Bulanda, executive president of Emerson’s Automation Solutions business. “The data foundation Toyota has built will make it faster and easier for like-minded companies to replicate success as hydrogen refueling networks continue to expand across the continent and the globe.”

Emerson’s DeltaV systems control operations for optimal production efficiencies and help ensure safe operations. Edge control technology from Emerson’s PACSystems™ will further reduce cost and complexity of integrating third-party systems. Rosemount™ flame detectors will help keep personnel and operations safe. The Toyota Australia team took advantage of pre-existing configuration libraries to reduce setup time. In addition, Emerson’s technologies create a platform to add future remote operations and data analytics more easily and cost effectively.

Additional resources:

• Join the Emerson Exchange 365 Community
• Connect with Emerson via Twitter Facebook LinkedIn YouTube

About Emerson

Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.

About Toyota

Toyota Motor Corporation works to develop and manufacture innovative, safe and high-quality products and services that create happiness by providing mobility for all. We believe that true achievement comes from supporting our customers, partners, employees, and the communities in which we operate. Since our founding over 80 years ago in 1937, we have applied our Guiding Principles in pursuit of a safer, greener and more inclusive society. Today, as we transform into a mobility company developing connected, automated, shared and electrified technologies, we also remain true to our Guiding Principles and many of the United Nations' Sustainable Development Goals to help realize an ever-better world, where everyone is free to move. In Australia, Toyota has been the best-selling automotive brand for 25 years, including the past 19 in a row.

For Emerson
Denise Clarke
512.587.5879
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New partnership provides up to $650 million to fund commercial solar projects

BOULDER, Colo.--(BUSINESS WIRE)--Wunder, a category-defining provider of commercial and industrial solar solutions, today announced a partnership with ClearGen, a Blackstone Credit portfolio company, providing Wunder with a large-scale capital solution to fund deployment of commercial solar. "Through this partnership, we’re excited to accelerate the deployment of solar and address one of the largest untapped market opportunities that exists today,” said Dave Riess, CEO of Wunder. The partnership underscores the immense economic opportunity that exists within a market that also holds incredible potential for driving down U.S. carbon emissions.

Motivated by its mission to provide pragmatic renewable energy solutions for commercial and industrial real estate owners and tenants, Wunder focuses on the under-served market majority: rooftop and other on-premise solar installations which are typically below five megawatts in size, and projects for commercial tenants that do not carry an investment grade credit rating. To help clients seamlessly capture solar’s financial and sustainability benefits, Wunder leverages proprietary technology and market expertise to programmatically deliver turn-key solar systems across properties nationwide. Wunder is currently expanding its solar offerings (including no-CapEx solutions designed to make solar an easy decision), servicing more real estate firms and tenants, and bringing solar access to new markets and property types.

The partnership with ClearGen (which includes loan purchase commitments, the acquisition of an existing solar loan portfolio, and preferred asset financing) is complemented by a new corporate equity round led by Keyframe Capital, arming Wunder with all the resources needed to accelerate solar deployment in the commercial and industrial solar market.

“From our earliest conversations it was clear that all of our firms share a common vision for the distributed energy future of the United States, and that we are tightly aligned in how both project development and financial innovations are critical to realizing that future,” said Riess. “When combining our shared resources, operational capabilities, project expertise, and unique technology, we can achieve that shared vision together.”

ClearGen was established in 2020 to deliver smart and flexible financing for renewable energy originators and developers. Rob Howard, CEO at ClearGen, said: “We are thrilled to partner with Wunder, which has been an innovative early mover in providing solutions to the commercial solar market. With this transaction, Wunder will continue to expand its scope with access to highly competitive capital solutions, while maintaining the velocity and low transaction costs that have been Wunder’s trademark.”

The U.S. commercial and industrial sector accounts for approximately 62% of the country’s total energy consumption each year according to the U.S. Energy Information Administration. While rooftop solar adoption within the sector has grown over the last decade, market penetration still sits at less than 5% today. Accelerated deployment of on-site solar has the potential to represent a meaningful step forward in the effort to curb an estimated 3.5 trillion lbs of CO2 emitted by the U.S. commercial and industrial sector each year.

The transaction was supported by Marathon Capital, an independent investment bank delivering strategic financial advice to the clean energy, sustainable technologies, and infrastructure markets.

About Wunder

Wunder is a leading provider of commercial and industrial solar solutions, delivering value across the solar landscape through both project development and finance activities. For large real estate firms and tenants, Wunder’s programmatic and technology-enabled approach provides a simple, fast, and frictionless renewable energy experience. Our mission is to accelerate our clean and plentiful energy future by tackling the largest opportunity to drive down U.S. carbon emissions. To learn more, visit www.WunderCapital.com, or check out our Careers page to discover opportunities to join the team.

About ClearGen

ClearGen is empowering the transition to a more sustainable energy future. In partnership with Blackstone, ClearGen works with partners to deliver efficient and reliable energy infrastructure to consumers. Our consultative approach is focused on reducing development risk by streamlining the structuring and financing process to facilitate successful project development. By combining smart and flexible financing with unmatched industry expertise, ClearGen will lead the way to a new era of energy outcomes. At ClearGen, we bring capital to projects that deliver results and make the world a cleaner place. Visit www.clear-gen.com to learn more.

About Keyframe

Keyframe is an NYC-based cross-asset investment firm. The firm’s generalist, cross-asset mandate allows it to invest across a diverse range of business models and capital structures. Keyframe looks to build long term partnerships with companies, and to leverage its flexibility to help solve their most complex asset and corporate financing requirements. For additional information please visit www.keyframecapital.com.

Wunder
Sam Beaudin
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ClearGen
George Plattenburg, Chief Commercial Officer
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Keyframe
John Rapaport
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Major LATAM oil recycler maximizes current ERP investments while optimizing processes and fiscal deliveries that allow IT to focus on strategic business issues

LAS VEGAS--(BUSINESS WIRE)--Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products, and a Salesforce partner, today announced that Lwart Soluções Ambientais, a pioneer and leader in Latin America in the production of base oil from used and contaminated lubricating oil, has signed an agreement to procure Rimini Street Support for its SAP ECC 6.0 environment.

Leveraging Rimini Street’s award-winning solutions, Lwart now enjoys access to an extraordinary bench of talent to maintain its current version of SAP without unnecessary upgrades or migrations. Lwart also benefits from the Company’s tax, legal and regulatory services to manage Brazilian tax requirements and assist in implementing new mobile payment and electronic invoicing solutions. Rimini Street’s highly-experienced engineers, who have earned Rimini Street an exceptional 4.9 out of 5.0 (where 5.0 is “excellent”) in client satisfaction, consistently deliver high-quality and responsive service measured against the most robust service level commitments in the industry, which was among the key requirements that led Lwart to Rimini Street.

“By having a single supplier cover both ERP support and updates, we increase operational efficiency and empower ourselves to build a roadmap aimed at achieving medium- and long-term business goals,” said Jefferson Andriotti, CIO of Lwart Soluções Ambientais. “As far as service quality is concerned, Rimini Street is exceptionally responsive, handling our needs quickly and dynamically. This brings efficiency to our overall process development, increases productivity and enables us to dedicate ourselves to more strategic activities.”

Business-oriented IT Strategy

Lwart Soluções Ambientais is the only producer in Latin America of high-performance base oils, Group II, from used and contaminated lubricating oil. The company collects and recycles hundreds of millions of liters of oil with high environmental pollution potential to prevent adverse impact on the environment. In addition to reverse logistics for used lubricating oil, Lwart has been expanding its operations since 2020 into the industrial, commercial and post-consumer solid waste management segment. It currently has more than 1,000 employees, divided into 18 collection centers across the country, a re-refining plant and a plant specializing in solid waste. For the company, the preservation of the planet is everyone's responsibility. Lwart's work is based on the concepts of the circular economy: collecting, allocating and transforming finite natural resources to use them again.

The company's innovation roadmap includes investments in information security and robotic process automation to improve supplier registration, thus increasing reliability. “All improvements are examined strategically and are essential to keep the business healthy and sustainable. We don’t allocate resources without a well-defined ROI,” Andriotti said.

To improve their ability to meet these challenges, Lwart enlisted Rimini Street to help optimize its existing IT operations and provide long-term continuity of its ERP system and back-office optimization, allowing Lwart to invest in innovation projects guided by business transformation demands. As Rimini Street expands its global portfolio of solutions on its road to achieving $1B in annual revenue by 2026, it is enabling clients like Lwart to chart a smart path forward by helping them optimize, evolve and transform their technology landscape and systems as they build and execute their business of tomorrow.

“Lwart plays a fundamental role in Brazil, protecting the environment from waste that can negatively impact the entire ecosystem. In a large company like this, technology must work perfectly and provide all possible support for the processes to run smoothly,” said Edenize Maron, group vice president and theatre general manager, Latin America, Rimini Street. “It is an honor to partner with companies like Lwart that are helping solve important global challenges, and they also are crucial for the national economy. We feel honored to contribute to their mission by delivering exceptional services and consultation that free IT so it can be truly strategic and aligned with business growth.”

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, nearly 4,700 Fortune 500, Fortune Global 100, midmarket, public sector and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (IR-RMNI)

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; the impact of our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the discontinuance of LIBOR and transition to any other interest rate benchmarks; the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the continuance of the pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements, including under our credit facility; our ability to maintain an effective system of internal control over financial reporting and our ability to remediate any identified material weaknesses in our internal controls; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate reserves for tax events; competitive product and pricing activity; challenges of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS) offerings, in addition to other products and services we expect to introduce in the future; the loss of one or more members of Rimini Street’s management team; our ability to attract and retain qualified personnel; uncertainty as to the long-term value of Rimini Street’s equity securities; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor supplied software support and managed services; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy and data protection regulations; and those discussed under the headings “Risk Factors” and “Cautionary Note About Forward-Looking Statements” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 4, 2022, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2022 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

Meredith Payette
Rimini Street, Inc.
+1 312-515-4756
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New partnership between MINI and JVP to accelerate the next phase of URBAN-X and support high-impact startups building solutions to tackle climate change creating more livable cities. Applications to join the platform are open and will be selected on a rolling basis.

MUNICH--(BUSINESS WIRE)--The new partnership between MINI and JVP invests in, builds, and scales emerging and fast-growth companies from Seed to Series B that are shaping the future of cities through novel climate- and urban-focused technology solutions. The joint venture between MINI and JVP will fuel the next generation of URBAN-X.

With 55 percent of the world’s population living in cities and urban areas accounting for almost three-quarters of all carbon dioxide emissions, innovation in cities is a cornerstone in the global fight against climate change. With this partnership, MINI and JVP will leverage their global networks, strong strategic partnerships, and entrepreneurship expertise to support new ideas and innovators through URBAN-X as they pioneer new technologies in cities across the globe.

“URBAN-X is committed to supporting the most promising innovators along their journeys as they move from idea to impact,” said Johan Schwind, Managing Director at URBAN-X. “Through this exciting new partnership with JVP, URBAN-X will have even more tools at our disposal to accelerate the development and deployment of transformative climate and urban technology solutions.”

The URBAN-X platform combines the expansive network of world-class design, engineering and brand expertise from MINI and the BMW Group with decades of investment experience, including $1.6 billion under management, at JVP. Startup founders will have access to a global network of public and private partners and receive hands-on guidance with customer discovery and engagement, product development, talent acquisition and brand and network-building. Seed to Series B companies worldwide are encouraged to apply. Applications to join the program are accepted on a rolling basis and interested startups can apply at https://www.urban-x.com/apply/.

"Climate tech is the new major technological revolution that is impacting every dimension of our life. It is more than just about alternative energy or innovative mobility. When fintech and healthtech meet climate tech, foodtech and ag tech or when cyber defends the climate –by bringing all the tech ecosystems together, we can change the way we eat, the way we live, and help save our planet.” Said Erel Margalit, Founder and Executive Chairman of JVP and Margalit Startup City. “The various subsectors of tech - together - can make the difference, changing the future of our world and the future of cities. It is time for public and private leaders across the globe, from Israel to America to Europe to Asia and beyond, to join forces in bringing in a new paradigm for building technology that protects the planet.”

URBAN-X will be located in Newlab in the Brooklyn Navy Yard and Margalit Startup City NYC, an international innovation center. The Margalit Startup City model is a recognized thematic ecosystem that brings together public, private and social impact stakeholders. Areas Margalit Startup City has focused on to date include FinTech, FoodTech, AgTech and Cyber. The model provides a platform for comprehensive engagement with the latest technologies, academic research and policy makers to enact real change.

Launched by MINI in 2016 as part of their innovation and brand strategy practice focused on improving city life, URBAN-X has since invested in more than 71 startups across the globe. To date, four URBAN-X portfolio companies have been acquired and 88% of companies have gone on to raise their next round of capital.

“MINI was built on the foundation of innovative and sustainable urban design. With this heritage, we recognize the indispensable role that entrepreneurs, technologists and designers play in the vitality and longevity of our cities,” said Stefanie Wurst, Head of MINI. “In this next phase of URBAN-X, we’re proud to continue engaging with the most innovative minds within the business tackling some of society’s toughest challenges.”

About URBAN-X
URBAN-X is the platform for founders reimagining city life. Built by MINI in 2016, URBAN-X partners with startups to build bold technology solutions for a sustainable planet. Breaking from traditional startup program molds, URBAN-X provides entrepreneurs from Seed to Series B with individualized and tailored support that accelerates growth and builds successful businesses for the next generation of climate- and city-focused innovators. Core to its platform, URBAN-X offers world-class engineering and design resources, industry-leading investment capital from our venture partner JVP, a global network of investors, policymakers, corporate strategies and end-customers, and premier educational content for a global network of founders. Find URBAN-X on Twitter & Instagram at @urbanxaccel and on Facebook at facebook.com/urbanxaccel.

About JVP
JVP, is an internationally renowned venture capital fund based in Israel. Established in 1993 by Dr. Erel Margalit, JVP has raised to date $1.6 billion across 10 funds, and has been listed numerous times by Preqin, and other rankings, as one of the top-ten consistently performing VC firms worldwide. JVP has built over 160 companies, leveraging a broad network of partners and market expertise to help companies become global market leaders. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ including CyberArk Software (NASDAQ: CYBR, $3.6 billion mkt. cap.), QLIK Technologies (NASDAQ: QLIK, then $2.5 billion mkt. cap.) and Cogent Communications (NASDAQ: CCOI, $2.3 billion mkt. cap.). https://www.jvpvc.com/

The BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.

In 2021, the BMW Group sold over 2.5 million passenger vehicles and more than 194,000 motorcycles worldwide. The profit before tax in the financial year 2021 was € 16.1 billion on revenues amounting to € 111.2 billion. As of 31 December 2021, the BMW Group had a workforce of 118,909 employees.

The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.

www.bmwgroup.com
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Twitter: http://twitter.com/BMWGroup
YouTube: http://www.youtube.com/BMWGroupView
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LinkedIn: https://www.linkedin.com/company/bmw-group/

Urban-X related inquiries:
Molly Hendriksen
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MINI related inquiries:
Franziska Liebert, Communications MINI
Tel.: +49-89-382-28030
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Andreas Lampka, Head of Communications MINI
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Jennifer Treiber-Ruckenbrod, Head of Communications MINI and BMW Motorrad
Tel.: +49-89-382-35108
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Agreement emphasizes partners’ shared commitment to support US manufacturing and promote lower-carbon production processes

FREMONT, Calif. & NASHVILLE, Tenn.--(BUSINESS WIRE)--Silicon Ranch, one of the nation’s largest independent power producers, and Nextracker, the leading provider of intelligent, integrated solar tracker and software solutions, today announced a master supply agreement (MSA) to deliver 1.5 gigawatts (GW) of Nextracker’s industry-leading solar tracker technology to Silicon Ranch projects through 2024, with options to expand as Silicon Ranch’s portfolio grows.

The MSA represents the latest milestone in the long-standing strategic relationship between two best-in-class solar businesses. The agreement includes a shared commitment by both companies to increase domestic supply and promote lower-carbon production processes. The emphasis on securing American-made product—using US steel supply—enables Silicon Ranch to support US manufacturing and job creation, improve the carbon footprint of its supply chain, and reduce volatility and logistics risks.

“Despite severe disruption to global supply chains and other pressures facing the solar industry, Silicon Ranch remains committed to maintaining our 100% track record for successful project delivery,” said Reagan Farr, Silicon Ranch Co-Founder and CEO. “This agreement with Nextracker not only helps us keep our promises to our customers, but also enables us to decarbonize our supply chain and support additional investments in American manufacturing. We have grown our business through the power of collaborative partnerships, and we are thrilled to expand our relationship with Nextracker as we accelerate our growth strategy across the US.”

“We are so impressed with Silicon Ranch’s differentiated development model which exemplifies community engagement, and win-win solutions for ranching and agriculture to benefit from solar, not only financial investors selling power,” said Dan Shugar, Nextracker Founder and CEO. “We have listened to Silicon Ranch’s needs and modified our products to add more value to their applications. Connecting their demand to more domestic steel and manufacturing capacity results in more jobs with cleaner steel and optimized logistics.”

“Designing the best possible power plant—wherever our customers need energy—is crucial to Silicon Ranch’s mission and core values, and to do so we maintain consistent feedback loops with proven partners like Nextracker in an effort to advance robust designs and industry standards,” said Nick de Vries, Silicon Ranch SVP of Technology and Asset Management. “Nextracker’s recent launch of the Horizon-XTR^TM is the latest output of our collaboration, as this technology yields a smarter, more streamlined way to build solar on varied terrain, allowing Silicon Ranch to deliver high-quality solar projects and remain good stewards of the land at the same time.”

Both companies have recently announced additional commitments to increase domestic manufacturing and lower the carbon impact of production:

• In April, Silicon Ranch announced an agreement with First Solar to supply 4 gigawatts of advanced, responsibly-produced thin film solar modules, enabling Silicon Ranch to improve the carbon footprint of its module supply while supporting additional investment in US manufacturing capabilities.
• Over the last two months, Nextracker commissioned a new manufacturing facility in Texas, and another in Phoenix. These facilities will further domestic solar tracking system supply security by increasing its domestic steel procurement and expanding its domestic manufacturing with dedicated solar tracker production facilities to serve solar power plants throughout the southern US.

Nashville-based Silicon Ranch pioneered utility-scale solar in the Southeast with the first large-scale solar projects in Tennessee, Georgia, Mississippi, Arkansas, and Kentucky. The company has successfully commissioned every project it has contracted since its inception and has further distinguished itself through its commitment to own and operate each project in its portfolio for the long term. Today Silicon Ranch owns, operates, and maintains more than 150 solar generating facilities in 15 states from New York to California. Earlier this year, Silicon Ranch completed a $775 million equity raise led by Manulife Investment Management.

About Silicon Ranch Corporation
Founded in 2011, Silicon Ranch is a fully integrated provider of customized renewable energy, carbon, and battery storage solutions for a diverse set of partners across North America. The company is one of the largest independent power producers in the country, with a portfolio that includes more than four gigawatts of solar and battery storage systems that are contracted, under construction, or operating across the U.S. and Canada. Silicon Ranch owns and operates every project in its portfolio and has maintained an unblemished track record of project execution, having successfully commissioned every project it has contracted in its history. In recognition of its holistic approach to land management, which the company has trademarked Regenerative Energy®, Silicon Ranch was named 2020’s “Most Forward-Thinking” company by Solar Power World. In 2021, Silicon Ranch acquired Clearloop, which helps businesses of all sizes reclaim their carbon footprint with a direct investment in building new solar projects while expanding access to clean energy. To learn more, visit siliconranch.com, regenerativeenergy.org, and clearloop.us. Follow Silicon Ranch on Facebook, Instagram, Twitter, and LinkedIn.

About Nextracker
Nextracker is the leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. Our products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. With over 50 gigawatts shipped worldwide, Nextracker leads the solar industry with solar tracker technologies that optimize and increase energy production while reducing costs for significant plant ROI. For more information, please visit Nextracker. Stay in touch with us: Twitter LinkedIn Instagram Facebook

Media Contact
Katie Jacobs (on behalf of Silicon Ranch)
Quarter Horse PR
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(847) 715-8624

Jack Shaw (on behalf of Nextracker)
Tigercomm
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(510) 910-5427

HOUSTON--(BUSINESS WIRE)--#OOTT--Opportune LLP, a leading global energy business advisory firm, is pleased to announce that Daniel Kohl has joined the firm as Co-Head and Managing Director of Opportune Partners LLC, an independent investment banking and financial advisory affiliate of Opportune.

Based in the firm’s Houston office, Mr. Kohl joins the investment banking practice, bringing over a decade of energy industry experience, having advised on over $10 billion in completed transactions over the last five years across every major basin in the U.S. Mr. Kohl’s principal focus will be serving client needs around A&D advisory, M&A advisory, structured transactions, strategic and portfolio management, and fairness and solvency opinions.

“I am very pleased to have Daniel join Opportune where he will grow our investment banking practice and bring meaningful value to clients,” said David Baggett, Manager Partner of Opportune. “Daniel’s extensive energy industry experience and well-earned reputation will be a great asset to our clients as we continue to build our investment banking team.”

Before Opportune, Mr. Kohl served as Head of A&D Advisory at UBS where he managed and directed all A&D and technical advisory efforts for the energy investment bank. He began his career at Chevron where he worked in various technical roles with a focus on the Appalachian Basin shale plays.

“I am honored to join Opportune where we will bring additional capabilities to this immensely successful platform,” added Mr. Kohl. “I look forward to working with an outstanding team of dedicated professionals to deliver superior advisory services for our clients.”

Mr. Kohl holds an M.S. from The Pennsylvania State University and a B.S. from Washington and Lee University. He is also a FINRA Series 79 and 63 registered representative.

About Opportune Partners LLC

Opportune Partners LLC is an independent investment banking and financial advisory affiliate of Opportune LLP. Opportune Partners LLC is a member of the Opportune Network and is a member of FINRA and SIPC. Opportune Partners LLC is not engaged in the practice of public accountancy. For more information on Opportune LLP and Opportune Partners LLC, please visit www.opportune.com.

About Opportune LLP

Opportune LLP is a leading global energy business advisory firm specializing in adding value to clients across the energy industry, including upstream, midstream, downstream, power and gas, commodities trading, and oilfield services. Opportune’s service lines include complex financial reporting, disputes and litigations, enterprise risk, investment banking, outsourcing, process and technology, reserve engineering and geosciences, restructuring, strategy and organizational design, tax, transactional due diligence, and valuation. For additional information, please visit www.opportune.com.

Daniel Kohl
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• UHL implemented Schneider Electric’s EcoStruxure Building Operation (EBO) during retrofit project at MAC Lodge at Wolf Ridge Environmental Learning Center
• EBO helped MAC Lodge earn the distinction of the first renovation project in the world, first building in Minnesota and only the 30th building worldwide to receive coveted full Living Building Challenge (LBC) Global Certification

BOSTON--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, is proud to announce its collaboration with UHL to enable the efficient use of energy at the recently completed, first-of-its-kind renovation project at Wolf Ridge Environmental Learning Center. Using EcoStruxure Building Operation (EBO), the work of Schneider Electric and UHL enabled Wolf Ridge to better educate students on the impacts of living a sustainable life, providing a single pane of glass that gives staff and students full visibility of the campus and all rooms in an easy to consume way.

Founded in 1971, Wolf Ridge Environmental Learning Center is the first environmental learning center in the nation to be accredited as a K-12 school and is recognized nationally and internationally as a leader in environmental education. Aided by UHL’s implementation of Schneider Electric’s EcoStruxure Building Operation (EBO) during the major renovation of Wolf Ridge’s MAC Lodge, the Lodge is the first renovation project in the world, the first building in Minnesota and only the 30^th building worldwide to receive the coveted Living Building Challenge (LBC) global certification by the International Living Future Institute.

EcoStruxure Building Operation (EBO) Enables Visibility and Increases Staff Efficiency

As a Master EcoXpert, UHL has a proven partnership with Schneider Electric that enables them to deliver innovative and collaborative solutions to create smarter buildings, more reliable infrastructures, and optimized energy efficiency. UHL, through its partnership with architecture and design client HGA, served as an integral team member on the Wolf Ridge project, starting at the onset in 2014 through completion of the complex renovation in 2018.

“The UHL team is honored to have been a partner on this meaningful project,” reflects Tim Ley, President & Co-Owner of UHL. “Our team truly believes in Wolf Ridge’s mission and was blown away by their creativity throughout the process, which is why as donors and investors in the renovation, it has been very rewarding to bring this first-of-its-kind initiative to fruition.”

Wolf Ridge’s mission is to develop a citizenry that has the knowledge, skills, motivation, and commitment to work together for a quality environment. The MAC Lodge is vital to this mission, serving as a dormitory for students to live and learn.

This is Wolf Ridge’s first experience with a full BAS system. EcoStruxure Buildings Operation (EBO) now provides an integrated building management system that delivers actionable insights in a centralized and convenient view for both facility staff and students. Additionally, maintenance for the facility has been completely redone. With access to building data anytime, anywhere on smartphones, tablets or laptops, the facilities team gains visibility across the campus and all rooms, saving time and resources. Instead of having to physically walk the campus and check 25 thermostats, the staff can see all points on their screen to manage operations easily and efficiently.

“The proficiency provided to us by UHL and Schneider Electric through EBO is invaluable,” said Pete Smerud, Executive Director at Wolf Ridge Environmental Center. “In addition to giving our staff the tools to quickly and effortlessly maintain our facilities, most importantly, it has empowered our students with tangible metrics, showing how their daily actions can affect the environment.”

This renovation added additional square footage, yet did not increase the heating demands, allowing the MAC Lodge to generate more energy than it consumes. This helps the building to keep earning net-positive water and net-positive energy ratings, a key component of earning the Living Building Challenge certification.

“Earning the distinction of the Living Building Challenge certification is tremendously exciting and wouldn’t have been possible without the innovation of EBO and expertise of our Master EcoXpert UHL,” said Justin Lavoie, Vice President of Channel Development at Schneider Electric. “EcoXperts possess unmatched knowledge, expertise and skill that allow for the creation of sustainable buildings of the future. With the help of UHL, we’ve been able to make a real and lasting impact not only on the efficiency of the facilities at Wolf Ridge, but on students’ behaviors and attitudes towards the environment and how they impact it.”

EBO Easily Educates Children at Wolf Ridge on Impacts of Living a Sustainable Life

“Wolf Ridge presented our team at UHL with the challenge of engaging their students in HVAC and water usage tracking,” reflects Greg Koetz, General Manager of Northern Minnesota at UHL. “Powered by EBO, we were able to help break down the disparate information of the Wolf Ridge facility into a view that children in the Wolf Ridge program would absorb and understand.”

Coining it the “Fisher Price Effect,” UHL worked closely with Wolf Ridge to create a unique teaching experience for children with distinct graphics that resembled cartoons and were easy for children to digest. Students can now see in real time their impact on the environment. For example, each student is provided with 6 gallons of water per person, per day along with 100 watts per person, per day. Students can then view the energy and water usage of both the campus and their individual rooms, creating a friendly competition among occupants as they view graphs in real-time of their budgets vs. usage for each day.

The new facilities allow students and staff to learn about the environment and apply those learnings through visible, interactive features that can help modify behaviors towards the environment.

To learn more about how Schneider Electric and its network of EcoXperts are enabling the buildings of the future, visit uhlcompany.com or uhlcompany.com/specialties/building-automation.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com

Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog

Hashtags: #BuildingsOfTheFuture #Sustainability #EcoXpert #LifeIsOn #SchneiderElectric

About Wolf Ridge

Wolf Ridge Environmental Learning Center is the largest accredited residential environmental learning center in the nation. Established in 1971, Wolf Ridge was the first environmental learning center in the nation to be accredited as a K-12 school and is recognized nationally and internationally as a leader in environmental education. Today it welcomes over 15,000 visitors annually to its 2,000-acre campus overlooking Lake Superior for year-round programming that includes K-12 visiting schools, summer camps, and graduate student naturalist training. Visit wolf-ridge.org to learn more.

About UHL

The Uhl Company was founded in 1917 by Bill and Ed Uhl. With offices in Maple Grove, Duluth, North Dakota, Northwest Wisconsin, and the Upper Peninsula in Michigan, Uhl Company continues to grow and offer top quality sales and service. Today, Uhl employs 150+ people and offers a fleet of more than 100 service/construction/account manager vehicles to serve our customers across a wide variety of industries, including manufacturing, pharmaceutical, retail, arts & entertainment, government, education, hospitality, and healthcare.

Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.
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