DENVER--(BUSINESS WIRE)--Liberty Oilfield Services Inc. (NYSE: LBRT; “Liberty” or the “Company”) announced today first quarter 2022 financial and operational results.

Summary Results and Highlights

• Revenue of $793 million increased 16% sequentially
• Net loss¹ was $5 million, or $0.03 fully diluted loss per share
• Adjusted EBITDA² of $92 million
• Integration of PropX logistics and software solutions improved frac operations in the first quarter
• Liberty wireline completed the longest-ever lateral length and deepest measured depth well onshore in North America
• Multiple operational pumping records, including 75 hours of continuous plug and perf pump time

“We entered 2022 with the right people, asset base and strategy to execute in a tightening frac market, and we are pleased to deliver strong first quarter results. This quarter demonstrated the benefits of our vertical integration strategy as we successfully navigated an operationally challenging environment,” commented Chris Wright, Chief Executive Officer. “Last year we expanded our services to include wireline and became a major sand producer, obtaining two large mines in the Permian Basin. We enhanced our technological advantages through the acquisition of PropX with wet sand handling and industry-leading last-mile proppant delivery solutions. Together with our ongoing development of digiFrac electric fleets, these advancements provide customers with differential frac services. The integration of our acquisitions in 2021 came at a short-term financial cost, but these actions are already paying significant dividends in 2022.

“Liberty revenue increased 16% sequentially as we leveraged our vertically integrated portfolio to better mitigate the early quarter impacts of sand and logistics challenges, notably in the Permian basin. We are encouraged by the progress we’ve made in the first quarter. Looking ahead, our collaborative approach with our customers and continued investment in innovation positions us well for the future,” continued Mr. Wright.

Outlook

Restrained global investment since the last oil and gas downturn has led to supply challenges at a time where worldwide demand for energy is growing and expected to surpass pre-pandemic levels in 2022. Relatively low and declining oil and gas inventories have led to persistent upward pressure on commodity prices, even prior to the Russian invasion of Ukraine. Although Russian export volumes of oil and gas have been only modestly impacted so far, uncertainty regarding potential future impacts of sanctions and buyer aversion to Russian hydrocarbons presents significant risk to future supply and demand balances. The modest, below stated plan, increases in OPEC supply and release of global emergency oil reserves are simply not enough to supply a rebounding world economy. North American oil and gas are critical in the coming years.

Tight oil and natural gas markets, coupled with geopolitical tensions in many key oil and gas producing regions, have all eyes on North American supply. The North American economy is proving more resilient to today’s global challenges in significant part due to a secure supply of natural gas. North America is well positioned to be the largest provider of additional oil and gas supply that powers the global economy and enables the modern world.

The frac services market is seeing robust activity improvement and a tightening of the supply-demand balance. Drilled but uncompleted well inventory has stabilized after a steep, continuous decline from pandemic-elevated levels. Available frac capacity is nearing full utilization as demand has increased and supply is limited due to continued equipment attrition, labor shortages, supply chain constraints and very low investment in recent years.

As the market tightened last fall, our customers recognized that the unfolding recovery would increase the importance of having the highest quality partners able to navigate turbulent times and deliver operational excellence. Today’s operational challenges include labor shortages, sand supply tightness and logistics bottlenecks. Liberty customers are seeing differential execution in this difficult environment, in part due to vertical integration from our OneStim and PropX acquisitions.

“In the second quarter, we expect approximately 10% sequential revenue growth, driven by increased activity and continued incremental improvement in net service price. These factors are expected to drive higher margins in the second quarter, partly offset by ongoing inflationary pressures,” commented Mr. Wright.

“In keeping with our company’s expanded scope, we are updating our name to Liberty Energy. Energy enables everything we do, and our passion is to energize the world. Our many technical innovations and investment in vertical integration sets us up nicely to continue creating additional value for our customers and Liberty. We continue to invest in the early part of this cycle, to grow our competitive advantage and capitalize on strategic opportunities to benefit our shareholders over the long term,” continued Mr. Wright.

First Quarter Results

For the first quarter of 2022, revenue increased 16% to $793 million from $684 million in the fourth quarter of 2021.

Net loss¹ (after taxes) totaled $5 million for the first quarter of 2022 compared to net loss¹ (after taxes) of $57 million in the fourth quarter of 2021. The net loss for the quarter was negatively impacted by $9 million related to loss on disposal of assets and remeasurement of liability under tax receivable agreements (TRA).

Adjusted EBITDA² increased 345% to $92 million from $21 million in the fourth quarter. Please refer to the reconciliation of Adjusted EBITDA (a non-GAAP measure) to net income (a GAAP measure) in this earnings release.

Fully diluted loss per share was $0.03 for the first quarter of 2022 compared to a loss of $0.31 for the fourth quarter of 2021.

Balance Sheet and Liquidity

As of March 31, 2022, Liberty had cash on hand of $33 million, and total debt of $212 million including $108 million drawn on the ABL credit facility, net of deferred financing costs and original issue discount. The term loan requires only a 1% annual amortization of principal, paid quarterly. Total liquidity, including availability under the credit facility, was $222 million as of March 31, 2022.

Conference Call

Liberty will host a conference call to discuss the results at 7:00 a.m. Mountain Time (9:00 a.m. Eastern Time) on Thursday, April 21, 2022. Presenting Liberty’s results will be Chris Wright, Chief Executive Officer, Ron Gusek, President, and Michael Stock, Chief Financial Officer.

Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers (412) 902-6704. Participants should ask to join Liberty’s call. A live webcast will be available at http://investors.libertyfrac.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 1068517. The replay will be available until May 4, 2022.

About Liberty

Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..

Non-GAAP Financial Measures

This earnings release includes unaudited non-GAAP financial and operational measures, including EBITDA, Adjusted EBITDA and Pre-Tax Return on Capital Employed. We believe that the presentation of these non-GAAP financial and operational measures provides useful information about our financial performance and results of operations. We define Adjusted EBITDA as EBITDA adjusted to eliminate the effects of items such as non-cash stock based compensation, new fleet or new basin start-up costs, fleet lay-down costs, costs of asset acquisitions, gain or loss on the disposal of assets, bad debt reserves, transaction, severance, and other costs, the loss or gain on remeasurement of liability under our tax receivable agreements and other non-recurring expenses that management does not consider in assessing ongoing performance.

Our board of directors, management, investors, and lenders use EBITDA and Adjusted EBITDA to assess our financial performance because it allows them to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense), asset base (such as depreciation, depletion and amortization) and other items that impact the comparability of financial results from period to period. We present EBITDA and Adjusted EBITDA because we believe they provide useful information regarding the factors and trends affecting our business in addition to measures calculated under GAAP. Non-GAAP financial and operational measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-GAAP financial and operational measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with U.S. GAAP. See the tables entitled Reconciliation and Calculation of Non-GAAP Financial and Operational Measures for a reconciliation or calculation of the non-GAAP financial or operational measures to the most directly comparable GAAP measure.

Forward-Looking and Cautionary Statements

The information above includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein concerning, among other things, the deployment of fleets in the future, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, return of capital to stockholders, business strategy and objectives for future operations, are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. The outlook presented herein is subject to change by Liberty without notice and Liberty has no obligation to affirm or update such information, except as required by law. These forward-looking statements represent our expectations or beliefs concerning future events, and it is possible that the results described in this earnings release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for us to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in “Item 1A. Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the SEC on February 22, 2022 and in our other public filings with the SEC. These and other factors could cause our actual results to differ materially from those contained in any forward-looking statements.

Michael Stock
Chief Financial Officer
303-515-2851
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AMHERST, N.Y.--(BUSINESS WIRE)--EtaPRO LLC, a Toshiba Group Company, is excited to announce that Aluminium Bahrain B.S.C. (Alba), the world’s largest Aluminium smelter ex-China, has selected the EtaPRO® Asset Performance and Condition Monitoring platform to accelerate its Digital Transformation initiatives.

As leading organizations such as Alba look to unlock the full potential of digital technology at scale, EtaPRO will help Alba measure plant degradation through a powerful digital dashboard to enhance Alba’s asset reliability. The EtaPRO platform combines the power of thermal performance, anomaly detection, and predictive analytics to help plants increase the availability, reliability, and efficiency of their most critical assets. Installed on over 3,000 units across 60+ countries, EtaPRO helps plants improve overall performance and delivers critical data and insights to support companies’ digital transformation efforts.

“We are delighted that a global leader such as Alba has chosen EtaPRO to achieve its ambitious Digital Industry 4.0 initiatives,” stated Richard DesJardins, Chief Operating Officer, EtaPRO LLC. “Digital Transformation, coupled with process knowledge, enables organizations to innovate new ways to manage and transform their business. As a market leader in Asset Performance and Condition Monitoring technology, we look forward to supporting Alba and the Kingdom of Bahrain on their continued journey to achieving digital excellence,” added Mr. DesJardins.

Alba’s Chief Executive Officer, Ali Al Baqali, stated, “We believe that Digital Transformation is a discipline rather than a project. As part of our Industry 4.0 revolution, we identified the need to have an online Performance Management System (PMS), based on an industry-leading digital solution utilizing Artificial Intelligence (AI), which would provide us with the flexibility to host the PMS in the cloud. We are excited to partner with EtaPRO LLC as we carve our way to meet our Company’s objectives in terms of efficiency and optimization.”

About EtaPRO LLC.
EtaPRO® LLC., headquartered in Amherst, New York, is a leading technology innovator that helps energy and industrial companies maximize their performance. The Company’s EtaPRO Asset Performance and Condition Monitoring platform is a real-time digital solution for improving the efficiency and reliability of power generating assets. EtaPRO utilizes empirical and physics-based digital twin technology combined with traditional vibration frequency analysis for detecting and diagnosing equipment deterioration or operating abnormalities in their earliest stages. It is adapted to customer-specific requirements and is used by the global power industry on nearly 700 GW of generation in over 60 countries, including thermal, geothermal, hydro, wind, and solar generating technologies.

About Toshiba America Energy Systems Corporation (TAES)
Toshiba America Energy Systems Corporation, (TAES), headquartered in West Allis, Wisconsin, with a large manufacturing and service shop, provides turbine/generator equipment and services for the energy industry in the Americas, including thermal, hydro and nuclear power plants. Part of the Energy Systems & Solutions Company within Toshiba Corporation, TAES is proud to provide high-quality, reliable and cost-effective products and services that address current and future power generation needs. For more information, please visit http://www.toshiba.com/taes..

Mr. Eddie Temistokle
Senior Manager, Corporate Communications
Toshiba America, Inc.
Phone: 212-596-0623
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.etapro.com
www.toshiba.com/taes

OSLO, Norway--(BUSINESS WIRE)--#Alkaline--With the official launch of the world’s first fully automated electrolyser production facility, Nel is near to making green hydrogen a true winner.

Green renewable hydrogen currently makes up just one percent of the world’s total industrial and mobility hydrogen consumption. But Nel’s pioneering new plant at Herøya, which is officially opened today, is at the forefront of the race to turn one into one hundred. In addition, falling cost of green hydrogen will unlock new application areas where green hydrogen is the best or only option for decarbonizing.

The secret is scale-up and automation, which is lowering the unit cost of electrode production like never before. Nel is on track to make green renewable hydrogen as cheap, or cheaper, to produce than natural-gas-based hydrogen by 2025.

Nel is reiterating its goal of delivering green hydrogen at $1.5/kg, and to achieve this capex must be reduced to a quarter of today’s level.

“Half of the savings we need to make will come from scale-up and increased efficiency in production. The rest will come from the economy of scale, and from effective industrial partnerships,” says Jon André Løkke, Nel’s CEO.

“At Herøya we are producing the best alkaline electrolysers in the world. The next step would be to industrialize our PEM technology in the US in a similar way,” says Løkke, adding that Nel is also investing a lot of capital in the development of concepts as large as 800 MW and beyond based on 20, 100, 200 MW building blocks.

“Our large-scale concepts allow us to optimize the overall capex and realize synergies to reduce cost,” says Løkke.

Nel has invited customers and partners for the grand opening of the new factory, and the Norwegian Minister of Energy and Petroleum will give the official opening speech.

“Nel’s new factory at Herøya is a step in the right direction towards a future without emissions. In a growing hydrogen market, even more electrolysers are needed, and it will be a sign of quality that the electrolysers are marked «Made in Norway»,” says Terje Lien Aasland, Minister of Energy and Petroleum. “Norway has competitive and competent industrial environments that can contribute to hydrogen development. Not least at Herøya.”

Nel is the leading electrolyser company in the world with a track record of large-scale projects, making solutions that are bankable with proven performance guarantees. In fact, the two largest electrolyser plants in Europe are currently being finalized with Nel’s technology.

This pioneering new plant at Herøya currently has 500 MW of production capacity. With further investment, this figure can rise to 2 GW, a sizeable portion of the 10 GW of capacity Nel is targeting to reach within 2025, if required by the market.

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. We serve industries, energy, and gas companies with leading hydrogen technology. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles – without the emissions.

Jon André Løkke, CEO, +47 907 44 949
Kjell Christian Bjørnsen, CFO, +47 917 02 097
Or email This email address is being protected from spambots. You need JavaScript enabled to view it.

• The event was attended by Pere Aragonès, Reyes Maroto and Ada Colau, as well as other institutional representatives, customers, suppliers and members of the company's board of directors.
• With an expected production capacity of over 750,000 chargers per year, the new plant will put the company in a position to respond to the growing demand for electric vehicles.
• The company has invested 9 million euros in a facility that is expected to employ more than 500 people.

BARCELONA, Spain--(BUSINESS WIRE)--The President of the Generalitat de Catalunya, Pere Aragonès, the Minister for Industry, Trade and Tourism, Reyes Maroto, and the Mayor of Barcelona, Ada Colau, inaugurated Wallbox’s new plant this morning, a leading provider of electric vehicle (EV) charging and energy management solutions, located in Barcelona's Zona Franca.

Also present at the event were the special delegate of the Consorci de la Zona Franca, Pere Navarro; the president of the Diputació de Barcelona, Núria Marín and the Delegate of the Spanish Government in Catalonia, Maria Eugènia Gay. In addition, all the members of the Board of Directors of Wallbox, prominent investors, customers, and suppliers, among others, attended the event.

Enric Asunción, CEO and co-founder of Wallbox, welcomed all the attendees and explained that "this is Wallbox, a company that works with a clear objective: to be the best in charging solutions for electric vehicles and energy management worldwide. We are no longer a start-up. We have grown and now we are a global company with a presence in almost 100 markets and listed on the NYSE. We are still growing! And here, in this factory that we are inaugurating today, you have proof of that".

According to the president of the Generalitat, Pere Aragonès, "It fills me with pleasure to accompany the inauguration of the new Wallbox production plant in Barcelona. This milestone is essential, not only for environmental and energy reasons, but also for the development and transition to electric mobility. Without Wallbox, it would not be possible".

“Wallbox’s innovative spirit is allowing us to react more quickly to the global supply crisis, due to the shortage of components on the international market”, assured Reyes Maroto, the Minister for Industry, Trade and Tourism of the Spanish Government. “Moreover, Wallbox’s commitment to sustainability goes beyond the products they manufacture. The best example is that by the end of 2022, between 30% and 60% of the energy needs of this factory production process will be managed through self-consumption. Additionally, the smart energy management system at your [Wallbox] Barcelona headquarters is a model to follow”.

For the Mayor of Barcelona, Ada Colau, "Barcelona is Spain's technological and scientific capital, and one of the main ones in Europe. Both for the creation of leading companies such as Wallbox, which was born and raised in Barcelona and for attracting investors and congresses in the most advanced sectors such as sustainability and ICT. Events like today's confirm that Barcelona is leading the economic recovery after the pandemic and that it is also in great momentum".

"Today marks a milestone in a success story that we at Iberdrola feel part of, having partnered with Wallbox for the past seven years. Since 2015, our collaboration has not stopped growing. We backed Wallbox as part of our start-up investment program. We were the first purchaser of the Pulsar home charger and of the first Supernova public charging solution. Moreover, we have participated in Wallbox's international expansion with orders for Iberdrola group subsidiaries in many other countries. Today I am pleased to announce that we will be the first customer for Wallbox’s new ultra-fast Hypernova charger, as part of the overall agreement to purchase a total of 10,000 Wallbox chargers, an amount similar to the total number of public charging points in Spain today. The alliance that we are strengthening today demonstrates the advantages of the symbiosis between consolidated business projects, such as Iberdrola, and emerging companies such as Wallbox", explained Iberdrola's Chairman, Ignacio Galán.

A pioneering factory for a company ahead of its time

Wallbox's new factory in Barcelona is located in Zona Franca, a traditionally industrial area. Wallbox is one of the first startups to set up here and believes that its technological activity will renew and revitalize the area.

This new plant has involved an investment of approximately 9 million euros. It currently employs 203 people, but it is expected to employ more than 520 when running at its full operational capacity and in 3 shifts.

In total, the plant has four production lines: two dedicated to manufacturing the Pulsar+, Copper, Commander2, and Quasar chargers for Europe, and another producing Pulsar UL for the North American market. The fourth line is dedicated to the exclusive production of Supernova, the first public Wallbox charger. These automated production lines are at the forefront of production processes and they are designed to allow customers to receive their charger in just 72 hours (this is the time lap between when an order is approved and the parcel is sent). Currently, Wallbox's new factory in Barcelona produces almost 1,200 chargers per day.

The new Wallbox factory in Barcelona began operating just over a year after the company and the Consorci de la Zona Franca signed a 10-year lease agreement for the land. The factory has 11,220 m2 and is built on a 16,800 m2 plot of land. This surface is occupied by an office area, a warehouse for materials, another for the loaders already produced and about to be shipped, the production lines and a validation area.

A plant that follows Wallbox's sustainability principles

The facility is at the forefront of innovation, efficiency, production and capacity. In addition, this new factory carries the principles of sustainability that have always identified Wallbox. In this sense, the company is a pioneer in the application of the 'cradle to cradle' concept at an industrial level. This philosophy aims to eliminate waste and has been applied in the new factory from the moment construction began. The new factory also follows the principles of 'lean manufacturing' (the industrial philosophy that improves the production process by eliminating unnecessary systems, seeks to increase the quality of products, and eliminates all activities that do not add value, among others).

On top of this, during the third quarter of 2022, 4,500 square meters of solar panels are expected to be installed on the roof of the factory, which are designed to supply 900kW of renewable energy to the factory, representing between 30 and 60% of the estimated energy needs of the production process. This installation will mean estimated savings equivalent to the consumption of more than 400 homes, based on an [average electricity consumption of an average household in Spain].

Throughout 2022, the solar panels are expected to be connected to the Sirius system, the energy management software developed by Wallbox. Sirius not only integrates the solar panels but also the bidirectional Quasar chargers that are expected to be installed in the car park of the new factory. Wallbox plans to set around 30 of them to both charge the electric vehicles and discharge their batteries to supply the building with electricity. With all these elements - plus the electricity from the grid itself - Sirius is designed to autonomously decide at any given moment which is the best source of energy - depending on the needs at that precise moment but also on the price of electricity. Sirius' unique and innovative technology is expected to make the Wallbox factory 100% self-sufficient within the next few years.

Research, development and innovation/ RDI, the main investment of Wallbox

Beyond the production area, one of the most outstanding spaces in the new factory is the validation area. This is the company's third laboratory and is designed to allow the necessary tests and trials to be carried out to ensure the quality of both the software developed by Wallbox and the chargers. Durability tests of all products will also be carried out here with the two climatic chambers that allow the climate of any part of the world to be recreated. In this way, the company ensures that all its products are designed to be suitable for each region. These chambers allow extreme climates to be recreated, ranging from -80ºC to 170ºC. They also allow the chargers to be tested in dust, water, and saltwater.

This laboratory has other functions such as testing the compatibility of all the chargers developed by Wallbox with the different electric vehicle manufacturers. In addition, the validation area will also be used to develop the test equipment that will be used during the production process and that is designed to ensure the quality of all the products that leave the new factory line.

"Wallbox is a company that does not settle and is always looking for ways to innovate and make life easier for the user. That is why every year we invest a very important part of our budget in innovation. Not only that, but about a third of our staff, 300 engineers, are devoted to it. Because we know that our future as a company is always one step ahead and we plan to move forward with the market and the needs of the consumer", concluded Enric Asunción, CEO of Wallbox.

The company has two other laboratories where it develops both its products and the validation tools for all the chargers it produces: one at its headquarters in Barcelona and the other in California (United States). Innovation and, therefore, investment in R&D&I is one of the company's priorities. In 2021, Wallbox invested 12 million euros in this concept.

About Wallbox

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox develops advanced electric vehicle charging and energy management systems that redefine the user's relationship with the grid. Wallbox goes beyond electric vehicle charging, it gives users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in nearly 100 countries. Founded in 2015 and headquartered in Barcelona, the company employs more than 900 people across its offices in Europe, Asia and the Americas.

Wallbox Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the features of Wallbox’s products, the features of the new plant including manufacturing capacity, production lines and solar panels, and expected benefits from the new plant. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "may," "can," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "predict," "potential," "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.

These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Wallbox’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox's history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; risks related to the conflict between Russia and Ukraine and other important factors discussed under the caption "Risk Factors" in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com.

These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

Wallbox Public Relations Contact:
Elyce Behrsin
Public Relations
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+34 622 513 358

Wallbox Investor Contact:
Matt Tractenberg
VP, Investor Relations
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+1 404-574-1504

VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen'' or the “Company”) (TSXV: EVGN) (OTCQB: EVGIF), today announced plans to release its 2021 fourth quarter and year end financial results on Thursday, April 21, 2022, after market close. EverGen will hold a results and corporate update conference call at 10:00 a.m. eastern time on Friday, April 22, 2022, hosted by Chief Executive Officer, Chase Edgelow.

Conference call details are as follows:

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. 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 British Columbia, with continued growth expected across other regions in North America.

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

EverGen Investor Contact
Kelly Castledine
416-576-8158
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EverGen Media Contact
Katie Reiach
604.614.5283
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Acquisition Provides Immediate Accretive Cash Flow and Increased Scale with Minimal Incremental Overhead

TULSA, Okla.--(BUSINESS WIRE)--Empire Petroleum (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in Texas, Louisiana, North Dakota, Montana and New Mexico, announced today that it has closed the acquisition of operated and non-operated oil and natural gas assets from a publicly-owned oil and gas company on April 1, 2022. The acquired assets are located in the Landa Madison and Landa West Madison Units in Bottineau County, North Dakota and the Birdbear Area in Golden Valley and Billings County, North Dakota.

Acquisition Highlights

• Provides immediate accretive cash flow and increased scale with minimal incremental overhead;
• Increases North Dakota pro forma net production by an estimated 24% to approximately 9,250 barrels of oil equivalent per month⁽¹⁾;
• Evaluated solely on proved developed producing ("PDP") reserves based on forward prices substantially below current levels;
• Adds approximately 700,000 BOE of long-life PDP reserves⁽²⁾;
• Doubles the leasehold position of Empire’s operated Landa Field and creates a uniform wholly-operated field with calculated original oil in place (OOIP) of approximately 6.5 million barrels;
• The Birdbear Play in Central Western North Dakota adds a new potential consolidation play in the Williston Basin’s prolific Devonian formations; and
• Transaction funded from cash on hand.

The acquisition includes an average operated working interest of 92% and an average net revenue interest of 73% in 15 operated producing wells along with an average non-operated working interest of 6% and average non-operated net revenue interest of 5% in 9 wells currently operated by Empire. The acquisition also includes 2,482 net leasehold acres. Current estimated gross daily production from the assets are approximately 118 barrels of oil.

"We are pleased to successfully close on another accretive transaction - the acquisition of both operated and non-operated oil assets in the prolific and long-life Williston Basin in North Dakota," said Mike Morrisett, President. "Empire has a clear strategy based on evaluating and executing bolt-on transactions that meet similar criteria while keeping debt levels at a conservative level. We remain focused on organic growth while securing additional incremental long-life and low-decline reserves that generate strong cash flow."

"Empire’s purchase of the Landa Madison Unit and the addition of non-operated interests to our existing Landa West Madison Unit completes a mission that our team embarked on starting shortly after our purchase of properties from EnergyQuest II in 2019," added Tommy Pritchard, Chief Executive Officer. "Putting the two units together makes great development sense and we believe this field has the potential to grow and become one of our larger producing assets in North Dakota. Additionally, the Devonian Birdbear Formation holds great promise for Empire as an area that has all the criteria that our team looks for in oil and gas assets. Birdbear has similar attributes to those found on the Eastern flanks of the Williston Basin in Bottineau County and can be easily operated from our current North Dakota infrastructure."

Notes:

(1) Pro forma production estimate based on average six months ended 3/31/2022.
(2) Reserves calculations are based on Company-engineered reserves estimates as of 2/1/2022 at fixed 12/31/2021 SEC prices of $3.64/MMBTU and $66.55/barrel.

About Empire Petroleum

Empire Petroleum Corporation is a publicly traded, Tulsa-based oil and gas company with current producing assets in Texas, Louisiana, North Dakota, Montana and New Mexico. Management is focused on targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. More information about Empire can be found at www.empirepetrocorp.com.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company’s estimates, strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2021, and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and other risks and uncertainties related to the conduct of business by the Company.

Empire:
Tommy Pritchard, CEO
Mike Morrisett, President
539-444-8002

HOUSTON--(BUSINESS WIRE)--Aris Water Solutions, Inc. (NYSE: ARIS) (“Aris”, “Aris Water” or the “Company”) announced today that it will host a conference call to discuss its first quarter 2022 results on Tuesday, May 10, 2022 at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). Aris will issue its first quarter 2022 earnings release after market close on May 9, 2022.

Participants should call (877) 407-5792 and refer to Aris Water Solutions, Inc. when dialing in. Participants are encouraged to log in to the webcast or dial in to the conference call approximately ten minutes prior to the start time. To listen via live webcast, please visit the Investor Relations section of the Company’s website, www.ariswater.com.

An audio replay of the conference call will be available shortly after the conclusion of the call and will remain available for approximately fourteen days. It can be accessed by dialing (877) 660-6853 within the United States or (201) 612-7415 outside of the United States. The conference call replay access code is 13727969.

About Aris Water Solutions, Inc.

Aris Water Solutions, Inc. (NYSE: ARIS) is a leading, growth-oriented environmental infrastructure and solutions company that directly helps its customers reduce their water and carbon footprints. Aris Water delivers full-cycle water handling and recycling solutions that increase the sustainability of energy company operations. Its integrated pipelines and related infrastructure create long-term value by delivering high-capacity, comprehensive produced water management, recycling and supply solutions to operators in the core areas of the Permian Basin. Additional information is available on our website, www.ariswater.com.

David Tuerff
Senior Vice President, Finance and Investor Relations
(281) 501-3070
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SAN DIEGO--(BUSINESS WIRE)--$DFCO #BoardofDirectors--Dalrada Corporation (OTCQB: DFCO, "Dalrada"), an innovator in clean energy, healthcare, and technology, is pleased to announce the appointment of Nick Gordon to the Company's Board of Directors. Mr. Gordon, Senior Vice President of Institutional Investments at Millennium Commercial Properties, brings to Dalrada vast expertise in real estate investments trusts (REITs), real estate development, and capital growth.

"Nick's deep knowledge of the real estate and commercial business sectors greatly increases Dalrada's ability to expand our footprint in numerous market verticals, including clean energy adoption by the hospitality industry and commercial property sector. I'm excited to work with Nick, and I welcome him to our Board of Directors," said Dalrada's Chairman and CEO, Brian Bonar.

Mr. Gordon co-founded the real estate development and overseas trading companies Empire Commercial and Empire Trading International. He previously held positions as Managing Director of Forstmann & Co. and co-founded numerous companies, including Global Trust Group, a boutique private equity firm, and AMP Medical products. During his nearly 20-year career in sales and management, he has received numerous awards working for multi-billion-dollar companies like Eli Lilly, Medicis, Johnson & Johnson, and Mallinckrodt.

Tom Giles, President of Dalrada Energy Services, states, "Mr. Gordon's background with global REITs and property development enhances the benefits of implementing Environmental, Sustainability, and Governance (ESG) compliance through Dalrada's initiatives. His unique industry knowledge facilitates increased property values through Dalrada Energy Services' ESG offerings, as the Company enables substantial clean energy cost-savings across multiple industries."

While reduced dependence on CO₂-producing fossil fuels occurs worldwide across multiple industries, Mr. Gordon's broad experience in the domestic and global petroleum markets, coupled with the introduction of new technology platforms, is a valuable asset to Dalrada Energy Services.

Dalrada Energy Services' (DES) comprehensive ESG compliance offerings include Dalrada's proprietary Likido®ONE heat pump technology powered by either sustainable or renewable energy sources. Likido® heat pumps boost energy efficiencies seven times more than traditional heat pumps and boilers and deliver as much as 75% cost savings over traditional fossil fuel sources.

In addition, DES' end-to-end ESG solutions upgrade existing properties or design new properties without capital outlay, leverage tax credits, significantly increase property values, and create new revenue streams that include carbon credits. These results enable property owners to achieve substantial cost savings and actualize new growth opportunities while "going green" through the adoption of ESG compliance.

Dalrada continuously creates innovative, impactful solutions to address the complex challenges of today and the future. To learn more about Dalrada Corporation, please visit www.Dalrada.com.

About Dalrada (DFCO)

Dalrada drives innovation that positively impacts people, businesses, and the planet. With subsidiaries that are firmly positioned in the world’s top three-growing industries of healthcare, clean energy, and technology, Dalrada creates solutions that are sustainable, affordable, and accessible.

The company works continually to produce disruptive products and services that accelerate positive change for current and future generations. Dalrada’s global solutions directly address climate change, post-pandemic gaps in the healthcare industry, and technology solutions for a new era of human behavior and interaction, ensuring a bright future for the world around us.

Established in 1982, Dalrada has since grown its footprint to include the unique business divisions: Dalrada Health, Dalrada Precision, and Dalrada Technologies. For more information, please visit www.dalrada.com.

Disclaimer

Statements in this press release that are not historical facts, the statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations regarding these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.

Denise Mahaffey
858.283.1253
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NÜRTINGEN, Germany--(BUSINESS WIRE)--ADS-TEC Energy (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, will host its inaugural earnings call on Thursday, April 28, at 10 a.m. EST. The agenda will include audited financials for full-year 2021, company progress and projections for 2022, and an update on the business.

To register for the call, please use the following link: https://global.gotowebinar.com/join/8547501562267283723/815395523. Once registered, you will immediately receive your dial-in instructions.

On April 28th, the day of the call, please follow the instructions provided to you upon registration. Please allow 15 minutes before the scheduled start time to connect to the teleconference.

A recording will be archived later on the ADS-TEC Energy website and will be available for replay by phone from Noon EST on April 28, 2022, until Noon EST on May 5, 2022.

About ADS-TEC Energy

ADS-TEC Energy Inc. is a US subsidiary of ADS-TEC Energy GmbH. ADS-TEC Energy GmbH is a subsidiary of ADS-TEC Energy, a publicly listed company in Ireland and on NASDAQ. ADS-TEC Energy is drawing on more than ten years of experience with lithium-ion technologies, storage solutions and fast charging systems, including the corresponding energy management systems. Its battery-based, fast charging technology enables electric vehicles to ultrafast charge even on low powered grids and features a very compact design. The high quality and functionality of the battery systems are due to a particularly high depth of development and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for automotive, OEMs, utility companies, and charge-operators.

More information on www.adstec-energy.com

ADS-TEC Investor Relations –
Cary Segall
ADS-TEC Energy
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(845) 224-8180

Media – United States:
Scott Gamm
Strategy Voice Associates
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Media - Europe:
Burkhard Leschke Brand Relations GmbH
Burkhard Leschke
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Report reviews risks, security concerns that accompany serverless architecture and offers industry-wide security best practices for adoption

SEATTLE--(BUSINESS WIRE)--#CIO--The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today released its C-Level Guidance to Securing Serverless Architectures. Written by CSA’s Serverless Working Group, the paper provides CISOs, CIOs, security and risk management professionals, and others involved in administering and managing systems, with a high-level business overview of serverless computing and the accompanying risks and security concerns that come when implementing a secure serverless computing solution.

As businesses work to bring technology value to market faster, serverless platforms are gaining adoption with developers as they provide a more effective way to move to cloud-native services without managing infrastructures such as container clusters or virtual machines. In response to serverless architecture’s growing appeal, the paper examines the business benefits of serverless architectures — such as agility, cost, and speed to market — with a focus on serverless application security and industry-wide best practices and recommendations for implementation.

Despite the security challenges, when used properly, serverless capabilities can provide security benefits when compared to transitional applications, including stateless and ephemeral components, inherent data compartmentalization, and, in some cases, simplified patching.

“Serverless computing offers several business benefits over traditional cloud-based or server-centric infrastructure, however, as with any emerging technology, serverless brings with it a variety of unique cyber risks. The evolution of any technology is inevitably followed by the evolution of threat actors looking to exploit its vulnerabilities. It's critical, therefore, that new technologies are adopted carefully and that proper diligence is undertaken,” said Aradhna Chetal, one of the paper’s co-authors and co-chair of the Serverless Working Group.

The report examines three critical security areas for serverless applications, namely threats that stem from actions taken by:

1. application owners when setting up infrastructure to host an application
2. application owners during the process of deploying their applications
3. the entity providing the service and/or infrastructure to application owners

“Serverless adoption is bound to grow and become mainstream due to the ease of improved developer efficiencies and the reduced management of infrastructure and other dependencies. As the use of serverless computing increases, executives need to be aware of the opportunities and challenges inherent to these technologies,” said Vishwas Manral, one of the paper’s co-authors and co-chair of the Serverless Working Group.

The Serverless Working Group seeks to develop best practices to help organizations looking to run their business with a serverless business model. Individuals interested in becoming involved in future serverless research and initiatives are invited to join the working group.

Download C-Level Guidance to Securing Serverless Architectures now. Those looking to learn more about serverless computing are encouraged to read How to Design a Secure Serverless Architecture.

About Cloud Security Alliance

The Cloud Security Alliance (CSA) is the world’s leading organization dedicated to defining and raising awareness of best practices to help ensure a secure cloud computing environment. CSA harnesses the subject matter expertise of industry practitioners, associations, governments, and its corporate and individual members to offer cloud security-specific research, education, training, certification, events, and products. CSA's activities, knowledge, and extensive network benefit the entire community impacted by cloud — from providers and customers to governments, entrepreneurs, and the assurance industry — and provide a forum through which different parties can work together to create and maintain a trusted cloud ecosystem. For further information, visit us at www.cloudsecurityalliance.org, and follow us on Twitter @cloudsa.

Kristina Rundquist
ZAG Communications for CSA
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POC will verify in a real time robotics’ application the improved performance of the Grinergy Potēre battery as well as its high power, safety, and dependability in high and low temperatures

SAN JOSE, Calif. & STRATFORD, Conn.--(BUSINESS WIRE)--#batteries--Grinergy, a South Korean headquartered lithium-ion rechargeable battery and battery management systems company today announced that they have signed a Proof of Concept (POC) agreement with Advanced Robot Solutions (ARS). Connecticut-based ARS is a leading provider of customized service robots and A.I. kiosk solutions for trade shows/events, admin buildings, government, courts, airports, and hospitality.

The Grinergy-ARS POC will verify in a real time robotics’ application the improved performance of the Grinergy Potēre battery as well as its high power, safety, and dependability in high and low temperatures. The project will be to convert ARS’ service robot batteries to Grinergy Potēre battery packs. Grinergy’s proprietary technology increases Lithium-ion battery power density when compared to current batteries, with remarkable safety and faster charging capability.

In turn, the POC will support ARS’ need for a highly reliable power supply for their service robots and kiosks as well as fast recharge capability.

Key to the POC will be results such as Functional (it worked, it did not work), Performance, Scalability, and the Quality of the product as well as additional data and insights.

Grinergy’s global mission is to provide “Tomorrow’s energy solutions Today.”

About Grinergy

Grinergy is a lithium-ion battery technology company headquartered in South Korea which offers multiple solutions to revolutionize the shortcomings of the conventional battery industry. Grinergy’s proprietary technology offers remarkable safety with improved charging capability. Grinergy has offices in Seoul; San Jose, CA; and Boston, MA.

About Advanced Robot Solutions

Founded in 2016, Advanced Robot Solutions (ARS) through the use of A.I., smart sensor technology, software, and hardware allow robotics to interact with customers face to face. This includes the next generation of service robots and user-friendly, touchless kiosks that assist customers by providing information and directions as well as collecting customer data. They are based in Stratford, Connecticut.

https://www.getrobotsolutions.com

Don Southerton
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+1-310-866-3777

SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE:JOBY), a leading developer of electric vertical take-off and landing (eVTOL) aircraft, today announced it will host the 2022 Elevate Summit on October 12th and 13th in Brooklyn, NY. The summit will provide an opportunity for the entire aerial ridesharing ecosystem to come together and discuss progress in the sector, from city officials and land developers to supply chain partners, the investment community and other aircraft manufacturers.

The event builds on the success of previous Elevate Summits, hosted by Uber from 2017 to 2019 before the acquisition of Uber Elevate by Joby in 2020.

“We launched the Elevate Summit five years ago to provide an open forum for this new industry to come together and embrace a shared vision of the future,” said Eric Allison, Head of Product at Joby and formerly Head of Elevate at Uber.

“Since then, the Summit has been established as the keystone event for aerial mobility, laying the foundation for the industry to make the leap from renderings to reality.

“We’re at a key moment in the evolution of our industry. As well as demonstrating record speed, altitude and endurance performance with our pre-production prototype aircraft, several companies, including Joby, have gone public and interest in the promise of this technology has never been higher. It’s the perfect time to come together.”

This momentum was recognized recently in a segment of CBS’ 60 Minutes show, presented by Anderson Cooper, during which Billy Nolen, Acting Administrator of the Federal Aviation Administration, stated: “Clearly, we’re seeing the emergence of something that’s fantastic … We want to be careful, we want to be measured, but … this is real, and this is happening.”

Held in New York City for the first time, the Summit will take place at Duggal Greenhouse in the historic Brooklyn Navy Yard, where attendees will be able to envision a near future in which quiet, electric, emissions-free aerial mobility opens up new transportation possibilities in urban areas.

Further details of the Summit will be released later this summer. Previous editions attracted more than 1,000 attendees and a wide range of speakers including the U.S. Secretary of Transportation, senior FAA and NASA leaders, U.S. Senators and CEOs of Fortune 100 companies.

Those interested in attending the event can sign up for updates at www.elevatesummit.com.

ABOUT JOBY AVIATION

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning in 2024. The aircraft, which has a maximum range of 150 miles on a single charge, can transport a pilot and four passengers at speeds of up to 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs more than 1,000 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington, D.C. and Munich, Germany. To learn more, visit www.jobyaviation.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our business plan, objectives, goals and market opportunity; and our current expectations relating to our business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, "expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our limited operating history and history of losses; our ability to launch our aerial ridesharing service and the growth of the urban air mobility market generally; our plans to operate a commercial passenger service beginning in 2024; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on a third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for its aircraft and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 25, 2022, and in other reports we file with or furnish to the Securities and Exchange Commission. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Joby may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.

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Will reduce size and power consumption of DC1500V converters including renewable-energy types

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will begin shipping samples of its LV100-type T-series 2.0kV insulated-gate bipolar transistor (IGBT) Module for industrial use this May. The new power-semiconductor product is expected to downsize and reduce the power consumption of power-conversion equipment for use with renewable-energy sources. Also, the product will be exhibited at major trade shows, including Power Conversion Intelligent Motion (PCIM) Europe 2022 in Nuremberg, Germany from May 10 to 12.

Power semiconductors for efficiently converting electric power are being increasingly utilized as key devices that can help to lower the carbon footprint of global society. At the same time, efficient power conversion through the deployment of increasingly higher system-operating voltages is being demanded for power grids that use renewable-energy power sources, which has led to the development of power converters rated at DC1500V, the upper limit of the EU’s Low Voltage Directive.¹

For the full text, please visit: www.MitsubishiElectric.com/news/

Customer Inquiries
Power Device Overseas Marketing Dept.A and Dept.B
Mitsubishi Electric Corporation
www.MitsubishiElectric.com/semiconductors/

Media Inquiries
Takeyoshi Komatsu
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2346
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www.MitsubishiElectric.com/news/

NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, will host its first-quarter 2022 financial results conference call on Wednesday, May 4, 2022 at 9:00 a.m. ET.

On the call, Chairman, President and Chief Executive Officer Alan S. McKim, Executive Vice President and Chief Financial Officer Michael L. Battles, Executive Vice President and Chief Operating Officer Eric W. Gerstenberg and Senior Vice President of Investor Relations Jim Buckley will discuss Clean Harbors’ financial results, business outlook and growth strategy.

Those who wish to listen to the conference call webcast should visit the Investor Relations section of the Company’s website at www.cleanharbors.com. The live call also can be accessed by dialing 877.709.8155 or 201.689.8881. Please dial in at least 10 minutes prior to the start of the call. If you are unable to listen to the live call, the webcast will be archived on the Company’s website.

About Clean Harbors

Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com.

Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
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Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
781.792.5100
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30-vehicle electric bus fleet scheduled for record-setting deployment in less than seven months

BELMONT, Calif.--(BUSINESS WIRE)--The Mobility House announced today its partnership with Modesto City Schools in California to integrate its smart charging and energy management system, ChargePilot, with the district’s new electric bus fleet. Modesto City Schools, in partnership with California’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project, has invested $14 million to purchase 30 Blue Bird electric buses – the largest single order in Blue Bird history – replacing nearly half of its existing diesel fleet and saving over $250,000 a year with zero-emission alternatives. The project is led by Modesto City Schools, with construction and engineering to be completed by Schneider Electric, and in collaboration with A to Z Bus Sales.

Charging infrastructure for the project will break ground in June 2022, with buses expected to be commissioned between September and December of this year.

“Our sustainability initiatives to reduce air pollution in our community are also an important step in introducing the next generation of students to cleaner transportation,” said Tim Zearley, associate superintendent of business services, Modesto City Schools. “I’m proud of Modesto City Schools for leading by example and becoming the first district in Stanislaus County to integrate zero-emission buses into the school system.”

Modeled after the successful fleet electrification project by Stockton Unified School District in 2021, Modesto City Schools will leverage The Mobility House’s ChargePilot to optimize charging schedules that ensure all vehicles remain readily available while also minimizing electricity costs according to local utility rates. Charging infrastructure for the 30-vehicle electric fleet, which the district plans to expand by an additional 30 electric buses in the near future, includes 30 BTC 16.8kW AC chargers and two ABB 50kW DC fast chargers.

“Modesto City Schools’ commitment to fighting climate change and teaching our students the importance of a healthier environmental ecosystem is truly inspirational,” said Representative Josh Harder. “Investments in clean transportation like Modesto’s are the foundation we need to build stronger, more resilient communities.”

“Modesto City Schools is a shining example of how the fleet electrification blueprint we helped establish for Stockton Unified School District can be easily replicated, for school bus fleets of any size,” said Zoheb Davar, head of business development for The Mobility House. “Modesto City Schools is to be commended for prioritizing environmental stewardship, and we’re here to help them realize their operational and sustainability goals with smart charging management.”

“We’re thrilled to partner with Modesto City Schools in their historic shift to an electrified school bus fleet and, in doing so, to leverage our energy infrastructure and funding expertise to help the district achieve its lofty sustainability objectives,” said Tammy Fulop, Vice President, Schneider Electric. “Our accelerated implementation of the charging structure will occur in parallel to the installation of six Sustainable Outdoor Learning Environments and the addition of ~800 kWp of solar carport arrays. These combined measures will save the district fuel, energy and operational costs that can be reinvested into further sustainability programs.”

Public project funding of $6.3 million was provided by Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), a program launched by the California Air Resources Board and administered by CALSTART, a national clean transportation nonprofit consortium. The district also plans to implement congruent green initiatives throughout its schools and facilities, such as solar canopies, electric lawn mowers and clean energy education programs for students.

To learn how school districts across California, including Ocean View School District and Stockton Unified School District, are optimizing fleet charging with The Mobility House’s ChargePilot solution, visit: mobilityhouse.com.

Apply for EPA Grant Funding
The Environmental Protection Agency’s Clean School Bus Program is awarding funding grants totaling five billion dollars over the next five years to replace diesel school buses with clean and zero-emission models. To learn how to apply for a grant, read How Can Your School District Maximize EPA Funding for New Electric School Buses?

About The Mobility House

The Mobility House’s mission is to create an emissions-free energy and mobility future. Since 2009, the company has developed an expansive partner ecosystem to intelligently integrate electric vehicles into the power grid, including electric vehicle charger manufacturers, 1,000+ installation partners, 80+ energy suppliers, and automotive manufacturers ranging from Audi to Tesla. The intelligent Charging and Energy Management system ChargePilot and underlying EV Aggregation Platform enable customers and partners to integrate electric vehicles into the grid for optimized and future proof operations. The Mobility House’s unique vendor-neutral and interoperable technology approach to smart charging and energy management has been successful at over 500 commercial installations around the world. The Mobility House has more than 200 employees across its operations in Munich, Zurich and Belmont, Calif. For more information visit mobilityhouse.com.

Christine Bennett for The Mobility House
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Hundreds of employees to volunteer on more than 150 projects across 17 states

TULSA, Okla.--(BUSINESS WIRE)--In a nationwide show of community support, hundreds of Williams employees will give their energy to complete more than 150 projects across 17 states as part of the company’s inaugural Volunteer Week, April 22-29. Projects range from outdoor beautification to volunteering in elementary school classrooms to helping at food banks. A list of organizations the projects are supporting can be found here.

“Strong community involvement is at the heart of Williams, driven by our core value to be responsible stewards. By harnessing the energy and enthusiasm of our employees, we’re exemplifying our values by lending a hand to the nonprofits that work hard every day to improve our communities,” said Alan Armstrong, Williams president and chief executive officer. “We are privileged to be in a position to support the many communities in which we live and work through active volunteer engagement, and I look forward to joining Williams employees in demonstrating what can be accomplished when we work together.”

Williams Volunteer Week builds on the company’s long tradition of being a good neighbor through employee volunteerism and financial support. Last year, employees recorded more than 23,000 volunteer hours, serving as advocates, youth mentors, coaches, nonprofit board members and volunteer firefighters. In addition, Williams awarded more than $12 million to more than 2,000 organizations across 48 states on top of the personal contributions made by employees, retirees and board members.

About Williams

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

MEDIA:
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INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075

Grace Scott
(918) 573-1092

HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) today announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.35 per share, or $1.40 per share on an annualized basis. The dividend is payable on May 16, 2022 to stockholders of record as of May 2, 2022.

About NRG

At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.

Safe Harbor

This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally.

Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Laura Avant
713.537.5437
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HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) announced today that, in connection with the previously announced offers to exchange (collectively, the “Exchange Offers”) any and all validly tendered (and not validly withdrawn) and accepted notes of the seven series of notes described in the table below (collectively, the “Old Notes”) issued by Phillips 66 Partners LP (“PSXP”) for notes to be issued by Phillips 66 Company (“P66 Co”), a wholly owned subsidiary of Phillips 66 (collectively, the “New Notes”), and the related consent solicitations (the “Consent Solicitations”) to certain proposed amendments to the corresponding indenture and to supplemental indentures pursuant to which such Old Notes were issued (the “Indenture Amendments”), as of 5:00 p.m., New York City time, on April 19, 2022 (the “Early Participation Date”), P66 Co has received the requisite number of consents to adopt the Indenture Amendments with respect to each of the seven series of Old Notes that are subject to the Exchange Offers and Consent Solicitations.

P66 Co intends to enter into a supplemental indenture with the respective trustee for the Old Notes to effectuate the Indenture Amendments with effect from the settlement date of the Exchange Offers.

Withdrawal rights for the Exchange Offers and Consent Solicitations expired as of 5:00 p.m., New York City time, on April 19, 2022 (the “Withdrawal Deadline”). Because the Withdrawal Deadline is not being extended, holders may not withdraw Old Notes, or revoke consents, previously tendered or tendered after the Withdrawal Deadline, except as may be required by law.

As of the Early Participation Date, the following principal amounts of each series of Old Notes have been validly tendered and not validly withdrawn (and consents thereby validly given and not validly revoked) as reported by D.F. King & Co., Inc., the exchange agent:

The Exchange Offers and Consent Solicitations are being conducted upon the terms and subject to the conditions set forth in the Confidential Offering Memorandum and Consent Solicitation Statement dated April 6, 2022 (the “Offering Memorandum”).

The Exchange Offers and Consent Solicitations will expire at 11:59 p.m., New York City time, on May 3, 2022, unless such date is extended (the “Expiration Date”). P66 Co currently expects the settlement of the Exchange Offers to occur on May 5, 2022, unless the Expiration Date is extended. Subject to applicable law, each Exchange Offer and each Consent Solicitation is being made independently of the other Exchange Offers and Consent Solicitations, and P66 Co reserves the right to terminate, withdraw or amend each Exchange Offer and each Consent Solicitation independently of the other Exchange Offers and Consent Solicitations at any time and from time to time, as described in the Offering Memorandum.

The Exchange Offers are only made, and the New Notes are only being offered and issued, (a) in the United States to holders of Old Notes who are “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933 (the “Securities Act”), or (b) outside the United States to holders of Old Notes who (i) are persons other than U.S. persons in reliance upon Regulation S under the Securities Act, (ii) are not “EEA Retail Investors” or “UK Retail Investors” (each as defined in the Offering Memorandum) and (iii) in the case of persons located in the United Kingdom, are “Relevant Persons” (as defined in the Offering Memorandum). The holders of Old Notes who have certified to P66 Co that they are eligible to participate in the Exchange Offers pursuant to at least one of the foregoing conditions are referred to as “Eligible Holders.”

The complete terms of the Exchange Offers and Consent Solicitations are described in the Offering Memorandum. The Offering Memorandum will only be made available to holders of Old Notes who certify that they are Eligible Holders. Eligible Holders may obtain copies of the Offering Memorandum by contacting D.F. King & Co., Inc., the exchange agent and information agent for the Exchange Offers and the Consent Solicitations, at (877) 783-5524 (U.S. toll free) or (212) 269-5550 (banks and brokers), by emailing This email address is being protected from spambots. You need JavaScript enabled to view it. or by visiting www.dfking.com/psx to complete the eligibility process. Holders of any Old Notes issued in certificated form and that are held of record by a custodian bank, depositary, broker, trust company or other nominee may also contact such record holder for assistance concerning the Exchange Offers.

The New Notes have not been registered under the Securities Act or any state securities laws. In connection with the issuance of the New Notes, P66 Co and Phillips 66 will enter into a registration rights agreement pursuant to which they will agree to exchange the New Notes for registered notes having substantially the same terms as the New Notes or, in certain circumstances, to register the resale of New Notes with the Securities and Exchange Commission. Until they are registered, the New Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

This press release is not an offer to sell or a solicitation of an offer to buy any of the securities described herein and is not a solicitation of the related consents. The Exchange Offers and Consent Solicitations are being made solely pursuant to the terms and conditions of the Offering Memorandum and the other related materials and only to such persons and in such jurisdictions as is permitted under applicable law. The Exchange Offers and Consent Solicitations are not being made in any state or jurisdiction in which such offers would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

In order to participate in any Exchange Offer and Consent Solicitation for Old Notes, holders of the Old Notes resident in Canada are required to complete, sign and submit to the exchange agent the related Canadian Certification Form. The New Notes may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the New Notes must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if the offering memorandum (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser’s province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser’s province or territory for particulars of these rights or consult with a legal advisor.

PROHIBITION OF SALES TO EEA RETAIL INVESTORS – The New Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended or superseded, the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 (as amended or superseded, the “Prospectus Regulation”). Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the “PRIIPs Regulation”) for offering or selling the New Notes or otherwise making them available to retail investors in the European Economic Area has been prepared and therefore offering or selling the New Notes or otherwise making them available to any retail investor in the European Economic Area may be unlawful under the PRIIPs Regulation.

PROHIBITION OF SALES TO UK RETAIL INVESTORS – The New Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (“UK”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the EUWA; (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (the “FSMA”) and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97 (as amended or superseded, the “Insurance Distribution Directive”), where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of the Prospectus Regulation as it forms part of domestic law by virtue of the EUWA (the “UK Prospectus Regulation”). Consequently no key information document required by the PRIIPs Regulation as it forms part of domestic law by virtue of the EUWA (the “UK PRIIPs Regulation”) for offering or selling the New Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the New Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $56 billion of assets as of Dec. 31, 2021.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include statements regarding the offers of P66 Co to exchange, and intended offering of, New Notes. These forward-looking statements are subject to risks and uncertainties, including the risks disclosed in the Offering Memorandum and the filings of Phillips 66 with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021.

Phillips 66
Jeff Dietert, 832-765-2297 (investors)
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Shannon Holy, 832-765-2297 (investors)
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Thaddeus Herrick, 855-841-2368 (media)
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BUFFALO, N.Y.--(BUSINESS WIRE)--Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets, announced today that it expects to release its first quarter 2022 financial results at approximately 7:30 a.m. ET on Wednesday, May 4, 2022. It also expects to discuss the results on a conference call that will be webcast live that same day starting at 9:00 a.m. ET. Hosting the call will be Chief Executive Officer William Bosway and Chief Financial Officer Timothy Murphy.

Those who wish to listen to the conference call should visit the Investors section of the Company’s website at www.gibraltar1.com. The call also may be accessed by dialing (877) 407-3088 or (201) 389-0927. For interested individuals unable to join the live conference call, a webcast replay will be available on the Company’s website for one year.

About Gibraltar

Gibraltar is a leading manufacturer and provider of products and services for the renewable energy, residential, agtech, and infrastructure markets. Gibraltar’s mission, to make life better for people and the planet, is fueled by advancing the disciplines of engineering, science, and technology. Gibraltar is innovating to reshape critical markets in comfortable living, sustainable power, and productive growing throughout North America. For more please visit www.gibraltar1.com.

Timothy Murphy
Chief Financial Officer
(716) 826-6500 ext. 3277
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LHA Investor Relations
Carolyn Capaccio/Jody Burfening
(212) 838-3777
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC plc (NYSE: FTI) (the “Company”) announced today that it has commenced a tender offer (the “Tender Offer”), subject to certain terms and conditions, for up to $320 million aggregate principal amount (the “Maximum Tender Amount”) of its 6.500% Senior Notes due 2026 (the “Notes”).

In connection with the Tender Offer, the Company also commenced the solicitation of consents (the “Consents”) of holders with respect to the Notes (the “Consent Solicitation”) to certain proposed amendments to the indenture for the Notes (the “Proposed Amendments”) described in the Statement (as defined below). The Proposed Amendments will, if adopted, among other things, eliminate substantially all of the restrictive covenants and certain events of default in the indenture. Effectiveness of the Proposed Amendments is subject to certain conditions described in the Statement, including receipt of the requisite number of Consents and the condition that the Notes validly tendered and not validly withdrawn in the Tender Offer are not subject to proration.

The terms and conditions of the Tender Offer and the Consent Solicitation are set forth in an Offer to Purchase and Consent Solicitation (the “Statement”), dated April 20, 2022. The Company intends to fund the Tender Offer with cash on hand.

The following table summarizes the material pricing terms of the Tender Offer:

_______________

The Tender Offer will expire at 11:59 P.M., New York City time, on May 17, 2022 (the “Expiration Time”), unless extended or earlier terminated. Holders who validly tender and do not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on May 3, 2022 (the “Early Tender Time”), and whose Notes are accepted for purchase, will receive, for each $1,000 principal amount of such Notes, the “Total Consideration” of $1,050.00, which includes an “Early Tender Premium” of $30.00. Holders who validly tender their Notes after the Early Tender Time will only be eligible to receive the “Tender Offer Consideration,” which is the Total Consideration less the Early Tender Premium. A valid tender of Notes will constitute the valid delivery of such holder’s Consents and a direction to the Trustee to execute the supplemental indenture reflecting the Proposed Amendments.

In addition to the Total Consideration or Tender Offer Consideration, as applicable, Holders whose Notes are accepted for purchase will also receive accrued and unpaid interest from the last interest payment date for the Notes to, but not including, the applicable settlement date. Payment for all Notes validly tendered at or prior to the Early Tender Time and accepted for purchase will be made on the “Early Settlement Date”, which will be promptly after the Early Tender Time and is anticipated to occur on or about May 4, 2022. Payment for all Notes validly tendered after the Early Tender Time and accepted for purchase, if any, will be made promptly after the Expiration Time.

If more than the Maximum Tender Amount of Notes are validly tendered and not validly withdrawn, the Company will accept such Notes for purchase on a pro rata basis up to the Maximum Tender Amount. If, at the Early Tender Time, the aggregate principal amount of Notes validly tendered equals or exceeds the Maximum Tender Amount, the Company reserves the right not to accept for purchase any Notes validly tendered after the Early Tender Time. If, at the Early Tender Time, the aggregate principal amount of Notes validly tendered is less than the Maximum Tender Amount, the Company expects to accept for purchase all Notes validly tendered at or before the Early Tender Deadline without proration, and, in such instance, only Notes validly tendered after the Early Tender Deadline and at or before the Expiration Time will be subject to possible proration. The Company reserves the right, but is not obligated, to increase the Maximum Tender Amount in its sole discretion.

Tendered Notes may be withdrawn and Consents delivered may be revoked at any time at or prior to, but not after, 5:00 p.m., New York City time, on May 3, 2022, unless extended by the Company, except under certain limited circumstances as otherwise required by law.

The consummation of the Tender Offer is not conditioned upon any minimum amount of Notes being tendered or the receipt of requisite Consents to adopt the Proposed Amendments, but is subject to the satisfaction or waiver of certain conditions described in the Statement.

The Company has engaged BofA Securities, Inc. and Citigroup Global Markets, Inc. to act as the dealer managers for the Tender Offer and solicitation agents for the Consent Solicitation. The Information Agent for the Tender Offer and the Consent Solicitation is Global Bondholder Services Corporation. Copies of the Statement and related offering materials are available by contacting the Information Agent at (855) 654-2014 (toll-free) or (212) 430-3774. Questions regarding the Tender Offer and the Consent Solicitation should be directed to BofA Securities, Inc. at (888) 292-0070 (toll-free) or (980) 387-5602 (collect) or This email address is being protected from spambots. You need JavaScript enabled to view it. and Citigroup Global Markets, Inc. at (800) 558-3745 (toll-free) or (212) 723-6106 (collect).

This press release is not an offer to purchase or a solicitation of an offer to sell any securities. The Tender Offer and the Consent Solicitation are being made solely pursuant to the terms of the Statement. The Company may amend, extend or terminate the Tender Offer and the Consent Solicitation in its sole discretion. The Tender Offer and the Consent Solicitation is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws of such jurisdiction.

Forward-Looking Statements

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

United Kingdom

The communication of this press release and any other documents or materials relating to the Tender Offer and the Consent Solicitation is not being made and such documents and/or materials have not been approved by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000 (“FSMA”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) those persons who are existing members or creditors of the Company or other persons within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and (2) to any other persons to whom these documents and/or materials may lawfully be communicated.

European Economic Area (EEA)

In any European Economic Area (EEA) Member State (the “Relevant State”), this press release is only addressed to and is only directed at qualified investors in that Relevant State within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017, as amended (the “Prospectus Regulation”). Each person in a Relevant State who receives any communication in respect of the Tender Offer and the Consent Solicitation contemplated in this press release will be deemed to have represented, warranted and agreed to and with each Dealer Manager and Solicitation Agent and the Company that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.

About TechnipFMC

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

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

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

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

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

Category: UK regulatory

Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
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Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
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Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
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