DUBAI, United Arab Emirates--(BUSINESS WIRE)--On the occasion of Expo 2020 Dubai, the National Advisor Bureau Limited announced that the UK Intellectual Property Office (IPO) has patented their “Iceberg Reservoirs” invention. The patent marks a significant development for the “UAE Iceberg Project”, which is expected to change the map of water distribution around the world.

The patent granted to Emirati inventor Abdulla Alshehhi, founder of the UAE Iceberg project, will boost investor confidence in the concept’s technical and economic feasibility.

Several agreements were signed with various companies and scientific institutions around the world since the “UAE Iceberg Project” was first announced, to leverage icebergs as new sources of fresh water in the region. Moreover, having icebergs off the coasts of the UAE will become a massive and unique tourist attraction.

In light of the increasing global demand for new sources of water in order to enhance food security, competition will intensify between investment institutions and international water companies to invest and acquire their share in this promising project, slated to transform the UAE into one of the world's most significant exporters of fresh water. The company is reportedly looking to raise USD 9 million in the first round of funding.

Alshehhi said: “The announcement coincides with Expo 2020 Dubai, one of the largest international exhibitions in the world and most important in exposition history. For 170 years, World Expos have served as an important platform to showcase the latest innovations that have shaped the world that we live in today; such as The Television, phones, computers, air conditioners, hydrogen vehicles, and many more. Expo 2020 Dubai will most certainly continue this legacy, and history will mark that it has helped to solve water scarcity, one of humanity's most pressing issues, with the Iceberg Project.”

The invention, dubbed “One of the most Significant inventions of the Century”, will use an advanced technology to tow the icebergs to the coasts of the UAE. The technology includes flexible, heat-insulated, and cost-effective reservoirs, leveraging renewable energy to prevent the ice from melting throughout the towing process.

National Advisor Bureau Limited

A consultancy firm is run by Abdulla Alshehhi, Inventor, author book "Filling the Empty Quarter" book and speaker in local and international conferences. The firm specializes in environmentally and innovative Projects.

*Source: AETOSWire

Website: http://www.Icebergs.World
YouTube: https://www.youtube.com/watch?v=CdC3HPNjc94

Abdulla Alshehhi, +971506677421
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DALLAS--(BUSINESS WIRE)--AECOM, the world’s trusted infrastructure consulting firm, today announced the appointment of Robert Spencer as Global Head of ESG Advisory Services. In his new role, Mr. Spencer will support the advancement of the firm’s environmental, social and governance (ESG) strategy, Sustainable Legacies, by continuing to develop and advance AECOM’s industry-leading ESG services and offerings to clients. The Company’s Sustainable Legacies strategy is focused on embedding sustainable development and resilience across AECOM’s work, improving social outcomes for communities, achieving net-zero carbon emissions, and enhancing the Company’s governance.

“As ESG leaders in our industry, we are excited for Robert to take on this new role and lead the growth phase of our ESG Advisory Services business,” said Lara Poloni, AECOM’s president. “Our clients are advancing increasingly ambitious, multi-decade initiatives focused on sustainability, resilience and delivering positive social impact through their projects and services. In collaboration with our global network of sustainability experts, Robert will play a key role in helping our clients and communities achieve their ESG goals.”

Mr. Spencer has been an integral member in devising and embedding corporate ESG strategies in a post-COVID-19 environment, providing ESG-focused business planning and green recovery. He has driven climate change and carbon performance change management programs in-house and for client organizations; aligning climate action and sustainable development with strategic planning.

Additionally, Mr. Spencer is a co-founder and executive director of the Natural Capital Laboratory (NCL). The NCL, established in 2019 by AECOM, the Lifescape Project, landowners Emilia and Roger Leese, and the University of Cumbria, is a unique five-year research collaboration for understanding and measuring natural capital in a live environment, which also identifies, quantifies, and values the impacts of re-wilding and biodiversity.

“Over my more than twenty-year career in sustainable development at AECOM, there has never been a more critical time to advance ESG priorities across all client sectors,” said Mr. Spencer. “Our clients are ambitious and have sophisticated net zero, natural environment and social value goals, and I am excited to take on a role that will see AECOM bring the full scale of its ESG expertise and knowledge.”

Mr. Spencer also works in a pro bono ESG advisory capacity for the Environmental Industries Commission (EIC) as an Advisory Board member and chair of the EIC Natural Capital Taskforce. He is Vice Chair of the Fédération Internationale Des Ingénieurs-Conseils (FIDIC) Sustainable Development committee and sits on the Environment Analyst Sustainability Advisory Board. Recently, he established the Science working group of Sustainable Markets Initiative – Nature-based Solutions taskforce.

For more information on AECOM’s ESG Advisory Services, please visit https://publications.aecom.com/sustainable-legacies/esg-advisory

About AECOM

AECOM is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy, and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.

Media:
Jason Marshall
Senior Director, Global Communications
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce the availability of its next-generation Membrane Electrode Assembly (“Advent MEA”). These MEAs have already been provided for testing to select strategic partners. The Advent MEA is currently being developed within the framework of L’Innovator, the Company’s joint development program with the U.S. Department of Energy’s Los Alamos National Laboratory (LANL), Brookhaven National Laboratory (BNL), and National Renewable Energy Laboratory (NREL).

The first-year milestones already achieved were:

• Accelerated stress testing confirmed the potential for significant (>5x) improvement in lifetime versus current HT-PEM MEAs.
• Strong potential for 2x and 3x power density increase versus current HT-PEM MEAs.

Commercial Progress:

• Advent distributed samples of its MEAs to major Original Equipment Manufacturers for test and evaluation. Advent is now in various discussions for Joint Development Agreements in the Genset, Heavy Duty Automotive, Marine, and Aviation markets.
• Advent intends to scale up the production capacity of Advent MEA in the order of 100s of kilowatts (fuel cell power equivalent) per month in mid-2023 and megawatts per month by the end of 2023.
• Advent intends that both its own products (SereneU, Honey Badger, MZERØ) and 3^rd party products will be able to use the new Advent MEAs in mass-production from 2024, according to the Company’s growth plan.

Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, said, “To put it simply for the sake of our current and future customers and investors, we will soon be able to manufacture fuel cells that last at least three times as long and have double the power density of our previous systems. This development will revolutionize the fuel cell industry. These will be the first PEM-based fuel cells worldwide that can consistently operate above 100^oC for more than 10,000 hours and are ideal for heavy-duty mobility. In addition, the HT-PEM technology can support multiple fuels, efuels, and low-grade hydrogen on board and operate under extreme conditions (-38^oC to +50^oC). The above is essential for mobility and off-grid applications and clearly separates us from current PEM technology competitors. Since our IPO only a year ago, our goal has been to reduce the total cost of ownership of fuel cells to the point that we can replace diesel generators and combustion engines. The mandate from the aerospace, marine, and heavy-duty automotive industry is clear: they want to move to high-temperature fuel cell technology. We believe that we will be able to provide the best product at the best price. We are looking to form Joint Development Agreements with select strategic partners that will enable them to bring the next generation of fuel cells to the market, therefore replacing the need for conventional fuels while producing clean power.”

In addition, Advent announced significant progress with its MEA manufacturing scale-up plan, notably:

• A Boston-based team is working on the MEA manufacturing scale-up. The Hood Park, Massachusetts-based facility, is scheduled to be operational in Autumn of 2022. Until then, Advent will use toll coating partners for the first phase scale-up.
• A Patras-based team is working in recently upgraded facilities to produce the necessary monomers, polymers, and ionomers for the MEAs.

Highlighting the progress on the development of the new Advent MEA, Dr. Emory DeCastro, Advent’s Chief Technology Officer, stated, “We are delighted about the progress of the L’Innovator program and our long-term partnership with Los Alamos National Laboratory. In the context of our ongoing collaboration, we had the opportunity to share progress updates with leading National Laboratory scientists, including Dr. Yu Seung Kim, Research Scientist at Los Alamos National Laboratory and one of the inventors of the new HT-PEM technology, who expressed the belief that Advent is on the right path for commercialization. We are expecting to continue and increase our collaboration with Los Alamos and the U.S. Department of Energy. At the same time, we are also proud about the completion of our polymer scale-up facility in Patras, Greece, since it will enable us to support the production of nearly 1 M.W. of power per month.”

Due to the high-temperature operation, Advent’s MEAs – the heart of the fuel cell – can work with impure hydrogen that can be reformed onboard from (e)methanol, natural gas, and other renewable fuels. Once commercialized, the new Advent MEA is expected to redefine the MEA market globally and further validate Advent’s leading position in the electrochemistry components business. Among other things, the new Advent MEA will be able at least to match the performance of today’s LT-PEM MEAs, to successfully operate at conditions never thought possible, as well as to significantly exceed the lifetime of Advent’s existing MEAs.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems, and the critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 100 patents issued for its fuel cell technology, Advent holds the I.P. for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Advent Technologies Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
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DUBLIN--(BUSINESS WIRE)--The "Gas Compressors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global gas compressors market is expected to grow at a CAGR of 7.5% during 2021-2026.

Companies Mentioned

• Ariel Corporation
• Atlas Copco AB
• Bauer Compressors Inc.
• Burckhardt Compression Holding AG
• Exterran Corporation
• Gardner Denver Inc.
• General Electric Company
• Hitachi Ltd.
• Kobelco
• Siemens AG.

Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

A gas compressor refers to a mechanical device that increases the static pressure of a gas by reducing its volume. Some of the commonly used gas compressors include positive displacement and dynamic gas compressors. Positive displacement compressors include reciprocating and rotary variants that compress the gas by confining it in a closed space and increasing the pressure.

On the other hand, the dynamic compressor consists of an axial and centrifugal compressor that compresses the gas through the mechanical action of rotating vanes or impellers. These compressors are commonly used for gases, such as ethylene, fluorine, argon, hydrogen, nitrogen, xenon and silane. As a result, they find extensive applications across various industries, including general manufacturing, construction, oil & gas, mining, chemicals and petrochemicals and power generation.

Significant growth in the oil and gas industry across the globe represents one of the key factors creating a positive outlook for the gas compressors market. Furthermore, the widespread adoption of gas compressors for the processing and transportation of renewable energy resources, such as natural gas, over long distances, is also driving the market growth. In line with this, they are also used in hospitals during surgical procedures and in air filtration duct systems for maintaining the air quality and preventing contaminations and infections.

Additionally, various product innovations, such as the development of energy-efficient portable compressors for automation in industrial plants, are acting as other growth-inducing factors. Product manufacturers are also developing variants with improved storage tanks, enhanced performance capabilities, minimal maintenance requirements and fuel consumption, which, in turn, is favoring the market growth. Other factors, including rapid industrialization, along with extensive research and development (R&D) activities, are anticipated to drive the market further.

Key Questions Answered in This Report

• How has the global gas compressors market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global gas compressors market?
• What are the key regional markets?
• What is the breakup of the market based on the compressor type?
• What is the breakup of the market based on the end use industry?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global gas compressors market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Gas Compressors Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Compressor Type

7 Market Breakup by End-use Industry

8 Market Breakup by Region

9 SWOT Analysis

10 Value Chain Analysis

11 Porters Five Forces Analysis

12 Price Analysis

13 Competitive Landscape

13.1 Market Structure

13.2 Key Players

13.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/ck8qd4

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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• European Association for Electromobility (AVERE), Royal RAI Vereniging(RAI) and BIL Sweden welcome XPENG as a new member

AMSTERDAM--(BUSINESS WIRE)--XPENG, a leading smart electric vehicle and mobility technology company, today announced that it has joined three major European automobile associations, the European Association for Electromobility (AVERE), Royal RAI Vereniging / RAI Association (RAI) and BIL Sweden, underlining the company's long-term commitment to developing the smart and greener mobility ecosystem in Europe.

Leveraging its strong expertise in innovative technology and sustainable mobility, XPENG will bring valuable insights in the smart EV sector, contributing to the development and implementation of the European Commission's Sustainable and Smart Mobility Strategy.

“We appreciate the extraordinary commitment that Europe has made to carbon neutrality and sustainable mobility,” said Leon He, Vice President of XPENG. “Our vision is to transform future mobility with technology. By consolidating our industry connections and actively engaging with the European automobile sector, we hope to accelerate the development of electrification, digitization and automation technologies for the auto sector. XPENG will continue to invest in innovations and is excited to work together with automobile stakeholders in Europe to achieve our shared vision: building a sustainable mobility ecosystem for the future.”

AVERE is the leading European association that promotes electromobility and sustainable transport across Europe. It represents and advocates for electromobility on behalf of the industry, academia, and EV users at both EU and national levels.

“We at AVERE are delighted to welcome XPENG as a member as it continues to develop and invest in Europe,” said Philippe Vangeel, Secretary-General of AVERE. “We look forward to engaging and working together with XPENG in shaping the future of smart and sustainable mobility.”

The Royal RAI Vereniging represents the interests of enterprises in the mobility sector in the Netherlands, and plays an active role in facilitating the production and sales of vehicles and parts for its 700 members, who together supply all forms of road transportation.

Steven van Eijck, Chairman of the Royal RAI Vereniging, commented: “We are very happy to welcome XPENG as our new member. XPENG plays an important role in the rapidly growing market for electric mobility, particularly passenger cars in the world. This is essential as we transition towards a zero-emission mobility system to meet our environmental and climate goals. The Dutch passenger car market is leading the initiatives in Europe when it comes to electrification. It acts as a gateway to the European passenger car market and is therefore attractive for newcomers.”

BIL Sweden is the Swedish industry organization for manufacturers and importers of cars, trucks and buses. The member companies together account for around 97 percent of new car sales in Sweden. The organization acknowledges that vehicles are a key player in the sustainable society focused on climate and environmental issues, safety and mobility development. BIL Sweden's vision for the year 2030: building long-term sustainable mobility and transportation solutions.

"BIL Sweden aims to work for a society that achieves its climate goals through developing long-term carbon-neutral strategies that promote energy efficiency and renewable energy vehicles. We believe that fossil fuels can be gradually phased out and replaced with renewable fuels and electrification as we improve energy efficiency. We are confident that companies like XPENG, which are focused on electric power, technology and innovation, are well positioned to contribute to this development. I am really looking forward to having them in BIL Sweden," said Mattias Bergman, CEO of BIL Sweden.

Earlier, XPENG announced the opening of its first European Experience Stores in Sweden and the Netherlands, and its partnership with Bilia and Emil Frey Nederland NV to build a first-class distribution, sales and service network in Sweden and the Netherlands, respectively.

The company is committed to Europe’s carbon-neutral initiatives and is dedicated to building intelligent, sustainable and people-first mobility solutions. XPENG differentiates itself with its full-stack in-house Advanced Driver Assistance System (ADAS) technologies and in-car intelligent operating system, as well as core vehicle systems including powertrain and electrification/electronic architecture, providing superior and safe mobility experience a growing base of customers.

About XPENG
https://heyxpeng.com/

About AVERE
https://www.avere.org/what-is-avere/

About Royal RAI Vereniging / RAI Association
https://www.raivereniging.nl/automotiveindustrynl/over-ons

About BIL Sweden
https://www.bilsweden.se/

Media:
Rosanne Wu
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Besides Adjusting Your Clock This Weekend, Be Sure to Check Your Carbon Monoxide Detector Batteries and Call 811 If You’re Planning a Digging Project

SAN FRANCISCO--(BUSINESS WIRE)--It’s time to spring forward! Daylight saving time begins this Sunday, March 13. Aside from setting your watch and clocks one hour forward and enjoying more daylight, this is the perfect time to make your home and family safer. Pacific Gas and Electric Company (PG&E) has some simple tips that can help.

Carbon Monoxide Safety

Carbon monoxide can be emitted from improperly functioning gas appliances, particularly those used for heating and cooking. To protect your family against potential exposure, carbon monoxide detectors should be installed on every floor, near sleeping areas and in common areas.

• These devices should be tested twice a year, and batteries replaced if necessary, which makes the start and end of daylight saving time such a perfect reminder.
• Check the date that the detector was manufactured. The sensors in most carbon monoxide detectors have a useful life of five to 10 years.
• Most detectors have an audible signal, usually a series of chirps, which differs from the alarm to indicate a low battery, a malfunction or device is nearing its end of life. Refer to the owner's manual or the instructions on the back of the detector for more information.
• Clear away any flammable materials and liquids from gas furnaces and other heat sources.

Remember, carbon monoxide is especially dangerous because it is odorless and can’t be seen, and all California homes are required to have carbon monoxide detectors.

Digging Safety

The longer days can make you eager to go outdoors for a backyard project. Whether you’ve hired a contractor to do a major job, or you’re just repairing or building a fence, planting or removing a tree or installing a new mailbox, call 811 before any digging project – large or small! This simple, free phone call can prevent damaging an underground utility line while digging. Utility workers will respond at no cost to you and mark the location of any underground utility lines. Making that free call will help avoid injuries, property damage and costly repairs potentially in the thousands of dollars.

• Remember, underground utility lines can be buried just inches below the surface, so make a free call to 811 even for small digging projects so that you can dig safely.
• Call 811 or go online for a USA ticket three working days before digging: Be prepared to provide the address and general location of the project, project start date and type of digging activity. PG&E and other utilities will identify underground facilities in the area for free.
• To identify your project location, draw a box around the area using white paint, white stakes, white flags, white chalk or even white baking flour.
• Once underground utility lines have been marked, use hand tools when digging within 24 inches of the outside edge of underground utility lines. Leave utility flags, stakes or paint marks in place until the project is finished. Backfill and compact the soil.
• If the utility line is visible, dig in parallel with the utility line and use all precautions when removing the soil from around the utility line.
• Be aware of signs of a natural gas leak: Smell for a “rotten egg” odor, listen for hissing, whistling or roaring sounds and look for dirt spraying into the air, bubbling in a pond or creek and dead/dying vegetation in an otherwise moist area.

If customers suspect a gas leak, PG&E urges customers to call 911 and then PG&E at 1-800-743-5000. If an accidental dent, scrape or other damage is made to a gas pipeline, those nearby must leave immediately and alert others to avoid the area. Only when a safe distance away should anything that might create a spark such as cell phones, matches, garage door openers, vehicles or yard equipment be used.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

MEDIA RELATIONS:
415-973-5930

HF Sinclair Corporation Established as a Leading Integrated Downstream Petroleum and Renewable Fuels Company

DALLAS--(BUSINESS WIRE)--HollyFrontier Corporation (NYSE: HFC) (“HollyFrontier”) and Holly Energy Partners, L.P. (NYSE: HEP) (“HEP”), today announced the establishment of HF Sinclair Corporation (NYSE: DINO) (“HF Sinclair”) as the new parent holding company of HollyFrontier and HEP and the completion of their respective acquisitions of Sinclair Oil Corporation and Sinclair Transportation Company from The Sinclair Companies. Commencing at market open on March 15, 2022, HF Sinclair will replace HollyFrontier as the public company trading on the New York Stock Exchange, and will trade under the ticker symbol “DINO” and under the new CUSIP number 403949 100.

HF Sinclair will be the parent company of a leading integrated downstream petroleum and renewable fuels company with enhanced scale and a strong marketing presence featuring:

• An expanded refining business that includes seven complex refineries across the Mid Continent Southwest, Rocky Mountain and Pacific Northwest that convert discounted, heavy and sour crudes into a high percentage of gasoline, diesel and other high value refined products.
• A growing renewables business with three production facilities that are expected to produce approximately 380 million gallons of renewable diesel annually.
• A multi-national lubricants business that produces specialty products and base oils, marketed under the Petro-Canada Lubricants, Sonneborn, Red Giant Oil and HollyFrontier Specialty Products brands.
• A leading marketing business, featuring the Sinclair brand and comprising 300-plus distributors and more than 1,300 independent wholesale branded sites located across 30 states.
• An expansive logistics business under HEP with an integrated logistics network connecting key crude and product regions and interests in strategic joint ventures that provide access to finished product pipelines and storage.

Across its businesses, HF Sinclair will build on its legacy companies’ ongoing ESG efforts with increased renewables scale, a shared commitment to health and safety practices that best serve employees and communities, and a focus on risk management.

With the addition of Sinclair’s integrated crude and refined products midstream business, HEP significantly extends the reach of its network of pipelines and storage facilities, enhancing its earning power to capture new organic growth opportunities and expects to increase cash returns to unitholders.

“The completion of our transactions and the launch of HF Sinclair marks the start of the next phase of our Company’s history,” said Mike Jennings, Chief Executive Officer of HF Sinclair and HEP. “We are moving forward as a more diverse, downward integrated business with scale that is positioned to drive growth and capital returns to our shareholders. We are also optimistic about the significantly expanded scale of HEP, which will benefit from long-term commitments from HF Sinclair. I am honored to welcome the talented Sinclair team to our organizations and I look forward to working closely with them to capture the significant growth and value-creation opportunities ahead at both HF Sinclair and HEP.”

Integration Details and Business Update

HollyFrontier’s senior management team will continue to operate HF Sinclair, which is headquartered in Dallas, Texas, with combined business offices in Salt Lake City, Utah. HEP’s senior management team will continue to operate HEP under the name Holly Energy Partners, L.P.

Pursuant to an agreement between HollyFrontier and Sinclair, Ross Matthews and Norman Szydlowski will be appointed to the HF Sinclair Board of Directors effective March 15, 2022. Collectively, the appointees have over 60 years of energy industry experience. Mr. Matthews served as Chairman and CEO of Sinclair Oil Corporation from October 2009 until the closing of the transaction. Mr. Szydlowski previously served as CEO of SemGroup Corporation, Rose Rock Midstream and Colonial Pipeline Company and as Director of Sinclair Oil Corporation. Additionally, pursuant to an agreement between HEP and Sinclair, Mark Peterson will be appointed to the Holly Logistics Services, L.L.C. Board of Directors. Mr. Peterson has over 30 years of experience in the midstream sector and served as Vice President, Transportation for Sinclair Oil Corporation from January 2010 until the closing of the transaction and Director and President of Sinclair Transportation Company from August 2009 until the closing of the transaction.

In connection with the close of the transaction, all existing shares of HollyFrontier have automatically converted on a one-for-one basis into shares of common stock of HF Sinclair, and HF Sinclair has issued approximately 60.2 million shares of common stock to Sinclair, representing 27% of the pro forma equity of HF Sinclair with a value of approximately $2.1 billion based on HollyFrontier’s fully diluted shares of common stock outstanding and closing stock price on March 11, 2022.

HEP has also issued 21 million common units to Sinclair, representing 17% of the outstanding common units, and having a value of approximately $349 million based on HEP’s fully diluted common units outstanding and closing unit price on March 11, 2022.

Advisors

Citi served as financial advisor to HollyFrontier, and Morgan, Lewis & Bockius served as HollyFrontier’s legal counsel. Bank of America Merrill Lynch served as financial advisor to the HEP Conflicts Committee, Bracewell served as HEP’s legal counsel and Morris, Nichols, Arsht & Tunnell LLP served as the HEP Conflicts Committee’s legal counsel. Wachtell, Lipton, Rosen & Katz served as legal counsel to both HollyFrontier and HEP.

About HF Sinclair Corporation:

HF Sinclair Corporation (“HF Sinclair”), headquartered in Dallas, Texas, is an independent energy company that produces and markets high value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and markets its refined products in 19 states principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. HF Sinclair supplies high-quality fuels to more than 1,300 Sinclair branded stations and licenses the use of the Sinclair brand at more than 300 additional locations throughout the country. In addition, subsidiaries of HF Sinclair produce and market base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and export products to more than 80 countries. Through its subsidiaries, HF Sinclair produces renewable diesel at two of its facilities in Wyoming. HF Sinclair also owns a 47% limited partner interest and a non-economic general partner interest in Holly Energy Partners, L.P., a master limited partnership that provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HF Sinclair subsidiaries.

About Holly Energy Partners, L.P.:

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HF Sinclair subsidiaries. HEP, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming, Kansas and Missouri as well as refinery processing units in Kansas and Utah.

Forward-Looking Statements

The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: The statements in this press release relating to matters that are not historical facts are “forward-looking statements” based on management’s beliefs and assumptions using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in our filings with the Securities and Exchange Commission. Forward-looking statements use words such as “anticipate,” “project,” “will”, “expect,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may,” and similar expressions and statements regarding our plans and objectives for future operations. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that our expectations will prove correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Any differences could be caused by a number of factors, including, but not limited to, HF Sinclair’s and HEP’s ability to successfully integrate the operations of Sinclair with its existing operations and fully realize the expected synergies of the Sinclair transactions or on the expected timeline; risks relating to the value of HF Sinclair common stock and the value of HEP’s limited partner common units from sales by the Sinclair holders following the closing of the Sinclair transactions; HF Sinclair’s ability to successfully integrate the operation of the Puget Sound refinery with its existing operations; the demand for and supply of crude oil and refined products, including uncertainty regarding the effects of the continuing coronavirus (“COVID-19”) pandemic on future demand and increasing societal expectations that companies address climate change; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products or lubricant and specialty products in HF Sinclair’s markets; the spread between market prices for refined products and market prices for crude oil; the possibility of constraints on the transportation of refined products or lubricant and specialty products; the possibility of inefficiencies, curtailments or shutdowns in refinery operations or pipelines, whether due to infection in the workforce or in response to reductions in demand; the effects of current and/or future governmental and environmental regulations and policies, including the effects of current and/or future restrictions on various commercial and economic activities in response to the COVID-19 pandemic; the availability and cost of financing to HF Sinclair; the effectiveness of HF Sinclair’s capital investments and marketing strategies; HF Sinclair’s and HEP’s efficiency in carrying out and consummating construction projects, including HF Sinclair’s ability to complete announced capital projects, such as the construction of the Artesia renewable diesel unit and pretreatment unit, on time and within capital guidance; HF Sinclair’s and HEP’s ability to timely obtain or maintain permits, including those necessary for operations or capital projects; the ability of HF Sinclair to acquire refined or lubricant product operations or pipeline and terminal operations on acceptable terms and to integrate any existing or future acquired operations; the possibility of terrorist or cyberattacks and the consequences of any such attacks; uncertainty regarding the effects and duration of global hostilities and any associated military campaigns which may disrupt crude oil supplies and markets for our refined products and create instability in the financial markets that could restrict our ability to raise capital; general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States; a prolonged economic slowdown due to the COVID-19 pandemic which could result in an impairment of goodwill and/or long-lived asset impairments; and other financial, operational and legal risks and uncertainties detailed from time to time in HF Sinclair’s and HEP’s Securities and Exchange Commission filings. The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

HF Sinclair Corporation and Holly Energy Partners, L.P.
Craig Biery, 214-954-6510
Vice President, Investor Relations
or
Trey Schonter, 214-954-6510
Investor Relations

Media Contact
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HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it will participate in the Piper Sandler 22^nd Annual Energy Conference in Las Vegas, Nevada at the Waldorf Astoria on Tuesday, March 22, 2022.

Any investor presentation provided during the conference will be publicly available and may be accessed on the “For the Investor” page of Helix’s website, www.HelixESG.com.

About Helix

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

Erik Staffeldt, Executive Vice President and CFO
281-618-0465
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RED DEER, Alberta--(BUSINESS WIRE)--Azolla Hydrogen has initiated a promising Mitacs-funded project with the Ivey Business School at Western University, Ontario. Led together with Principal Investigator Dr. Fredrik Odegaard, the research project aims to analyze the pathways of optimizing hydrogen fuel networks.

Azolla Hydrogen is one of few Canadian companies with the technology, infrastructure, and talent to assist and promote the adoption of low-carbon fuels. "Our technology's premise is based on lean manufacturing to increase the efficiency of low GHG Hydrogen production, making it even more sustainable and part of the circular carbon economy," says Jared Sayers, President and CEO of Azolla Hydrogen. The objectives of the research project are two-fold. First, Azolla seeks to analyze the processes and challenges in implementing an environmentally sustainable methanol-based hydrogen production network to supply vehicular fuel demand in North America. Second, Azolla aims to determine the optimal design of the aforementioned pathways to build a "clean fuel" network from the lens of a life cycle analysis.

As a first step, the research study will focus on designing and assessing feasible hydrogen fuel networks for the province of Alberta and the state of California as case studies. "The need for low-carbon fuels was yesterday. We simply cannot combat global warming without drastically changing the current fuel source of motor vehicles," says Dr. Odegaard, Associate Professor at the Ivey Business School. "However, we also need to better understand the life cycle of carbon production and design fueling networks that are environmentally sustainable and economically scalable. And so, I am very excited to be part of this research project."

This research project is expected to benefit Azolla Hydrogen’s understanding of the optimal clean fuel network and streamline the deployment of its innovative technology to the market. “We are proud to be able to accelerate the world’s adoption of a more sustainable future. With the support of this Mitacs funded project, Azolla Hydrogen in collaboration with the Ivey Business School will be able to propel the North American hydrogen economy forward and realize this sustainable future for us all – sooner rather than later,” states Jared Sayers.

About Azolla Hydrogen Ltd.:

Azolla Hydrogen is an Alberta based start-up with a focus on the North American hydrogen economy. We help companies transition from a default reliance on fossil fuels. As we edge toward decarbonizing the energy sector, hydrogen as a transportation fuel has been gaining influence. Azolla Hydrogen has identified a pathway to generate low-GHG hydrogen that is scalable and not reliant on the grid as power for electrolysis or fossil fuels for small modular reactors. Follow us on LinkedIn for updates – Azolla Hydrogen

About Ivey Business School, Western Ontario University:

The Ivey Business School at Western University is Canada's leading provider of relevant, innovative, and comprehensive business education. Drawing on extensive research and business experience, Ivey faculty provide the best classroom experience, equipping graduates with the skills and capabilities they need to tackle the leadership challenges in today's complex business world. Ivey offers world-renowned undergraduate and graduate degree programs as well as Executive Education at campuses in London (Ontario), Toronto and Hong Kong.

About Mitacs:

Mitacs is a national, not-for-profit organization that has designed and delivered research and training programs in Canada for 20 years. Working with 70 universities, 6,000 companies, and both federal and provincial governments, Mitacs builds partnerships that support industrial and social innovation in Canada. From aerospace systems to childhood literacy rates, Mitacs-funded research helps to strengthen connections, improve economic performance, and create jobs. Over the past 20 years, Mitacs has supported more than 20,000 research projects, trained more than 33,000 student and postdoc career-skills participants, and supported more than 3,600 international research collaborations.

For more information on Azolla Hydrogen: Jared Sayers This email address is being protected from spambots. You need JavaScript enabled to view it.

•  Fourth quarter revenue grew to $4.0 million, up over 2.5 times over the prior-year period and up 11% sequentially
• Revenue for 2021 increased 27% to $13.3 million driven by strong demand for SDP’s flagship Drill-N-Ream® wellbore conditioning tool and the significant recovery in oil & gas production in North America
• Achieved net income of $645 thousand for the quarter and Adjusted EBITDA* of $827 thousand, or 20.9% as a percent of revenue
• Ended year with $6.1 million in shareholders’ equity

*Adjusted EBITDA is a non-GAAP measure. See comments regarding the use of non-GAAP measures and the reconciliation of GAAP to non-GAAP measures in the tables of this release

VERNAL, Utah--(BUSINESS WIRE)--In the "Consolidated Condensed Statements Of Operations" financial table, the Diluted weighted average common shares outstanding for the Three Months Ended December 31, 2021 should read: 27,816,874 (instead of: 26,153,334).

The updated release reads:

SUPERIOR DRILLING PRODUCTS, INC. GREW REVENUE 156% AND ACHIEVED EARNINGS PER SHARE OF $0.02 IN FOURTH QUARTER 2021

•  Fourth quarter revenue grew to $4.0 million, up over 2.5 times over the prior-year period and up 11% sequentially
• Revenue for 2021 increased 27% to $13.3 million driven by strong demand for SDP’s flagship Drill-N-Ream® wellbore conditioning tool and the significant recovery in oil & gas production in North America
• Achieved net income of $645 thousand for the quarter and Adjusted EBITDA* of $827 thousand, or 20.9% as a percent of revenue
• Ended year with $6.1 million in shareholders’ equity

*Adjusted EBITDA is a non-GAAP measure. See comments regarding the use of non-GAAP measures and the reconciliation of GAAP to non-GAAP measures in the tables of this release

Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), a designer and manufacturer of drilling tool technologies, today reported financial results for the fourth quarter of 2021 ended December 31, 2021.

Troy Meier, Chairman and CEO, commented, “We had exceptional growth in demand for our Drill-N-Ream® wellbore conditioning tool (“DNR”) as the number of operators and rigs using the tool continues to grow. It would appear as well that we are now reaching a point where tool fleet replacement is required as tool sales in the quarter picked up measurably.”

He added, “We have been building out our team and focused on training to be able to deliver to demand in 2022. We are working hard to address the challenges of talent management and retention, stay ahead of supply chain constraints and meet our customers’ requirements as demand continues to expand.”

Fourth Quarter 2021 Review ($ in thousands, except per share amounts) (See at “Definitions” the composition of product/service revenue categories.)

Significant growth in revenue year-over-year reflected a strong recovery in the oil & gas industry especially in North America, growing market penetration of the Company’s DNR in North America and the related expanded demand for new drilling tools.

For the fourth quarter 2021, approximately 90% of revenue was from North America and approximately 10% from international markets, all within the Middle East. Revenue in North America grew year-over-year from increased tool revenue and strong growth in Contract Services.

Fourth Quarter 2021 Operating Costs

⁽¹⁾ Adjusted EBITDA is a non-GAAP measure defined as earnings before interest, taxes, depreciation and amortization, non-cash stock compensation expense and unusual items. See the attached tables for important disclosures regarding SDP’s use of Adjusted EBITDA, as well as a reconciliation of net loss to Adjusted EBITDA.

Gross margin was impacted by operating inefficiencies associated with labor shortages and supply chain constraints. Selling, general & administrative expenses were higher as a result of labor constraints and the inflationary impact of wages.

Net income of $645 thousand, or $0.02 per diluted share was primarily due to the recovery of principal and interest of a related party note receivable in the fourth quarter. Adjusted EBITDA⁽¹⁾ improved year-over-year to $827 thousand on higher net income.

The Company believes that when used in conjunction with measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), Adjusted EBITDA, which is a non-GAAP measure, helps in the understanding of its operating performance.

Full Year 2021 Review

Revenue of $13.3 million grew 27% over the prior year as a result of an improved market combined with strong demand for the Company’s products and services. Revenue in North America was up 35% which more than offset a 8.7% decline in international markets as the Middle East continued to address the global pandemic with containment restrictions.

Tool revenue was $9.2 million, up 31%, or $2.2 million, from the prior-year period driven by demand for the DNR, both new tools as well as repair and royalty revenue from DNR activity on more rigs throughout the year. Contract Services revenue increased approximately $667 thousand, or 19%, to $4.1 million for the year as the Company refurbished more tools for its legacy customer.

Operating expenses in 2021 were down $371 thousand, or 3%, compared with 2020. This was primarily as a result of lower amortization expense and the reorganization of the Company’s international business to improve profitability.

Other income in 2021 included $707 thousand for recovery of a related party note receivable, whereas 2020 benefitted from the $933 thousand in forgiveness on SBA loans.

The net loss in 2021 was $530 thousand, or ($0.02) per diluted share, improved over a net loss of $3.4 million, ($0.13) per diluted share in 2020.

Adjusted EBTIDA was $2.6 million in 2021, or 19.7% of revenue. This was up from an Adjusted loss before tax, interest, depreciation and amortization of $103 thousand in 2020.

Balance Sheet and Liquidity

Cash at the end of the quarter was $2.8 million, up $861 thousand from the end of 2020 and up $353 thousand from the trailing third quarter. Cash generated by operations for the year was $526 thousand. Long-term debt, including the current portion, at quarter-end was $2.5 million. The final $750 thousand of principal due on the note is payable on October 5, 2022.

During the quarter, the Company completed an equity offering of 1,739,131 shares of common stock at a price of $1.15 per share, which resulted in net proceeds of approximately $1.7 million.

Definitions and Composition of Product/Service Revenue:

Contract Services Revenue is comprised of repair and manufacturing services for drill bits and other tools or products for customers.

Other Related Tool Revenue is comprised of royalties and fleet maintenance fees.

Tool Sales/Rental revenue is comprised of revenue from either the sale or rent of tools to customers.

Tool Revenue is the sum of Other Related Tool Revenue and Tool Sales/Rental revenue.

Webcast and Conference Call

The Company will host a conference call and live webcast today at 10:00 am MT (12:00 pm ET) to review the results of the quarter and discuss its corporate strategy and outlook. The discussion will be accompanied by a slide presentation that will be made available prior to the conference call on SDP’s website at www.sdpi.com/events. A question-and-answer session will follow the formal presentation.

The conference call can be accessed by calling (201) 689-8470. Alternatively, the webcast can be monitored at www.sdpi.com/events. A telephonic replay will be available from 1:00 p.m. MT (3:00 p.m. ET) the day of the teleconference until Friday, March 18, 2022. To listen to the archived call, please call (412) 317-6671 and enter conference ID number 13727112 or access the webcast replay at www.sdpi.com, where a transcript will be posted once available.

About Superior Drilling Products, Inc.

Superior Drilling Products, Inc. is an innovative, cutting-edge drilling tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. The Company designs, manufactures, repairs and sells drilling tools. SDP drilling solutions include the patented Drill-N-Ream® wellbore conditioning tool and the patented Strider™ oscillation system technology. In addition, SDP is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field service company. SDP operates a state-of-the-art drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers’ custom products. The Company’s strategy for growth is to leverage its expertise in drill tool technology and innovative, precision machining in order to broaden its product offerings and solutions for the oil and gas industry.

Additional information about the Company can be found at: www.sdpi.com.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements and information that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this release, including, without limitations, the continued impact of COVID-19 on the business, the Company’s strategy, future operations, success at developing future tools, the Company’s effectiveness at executing its business strategy and plans, financial position, estimated revenue and losses, projected costs, prospects, plans and objectives of management, and ability to outperform are forward-looking statements. The use of words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project”, “forecast,” “should” or “plan, and similar expressions are intended to identify forward-looking statements, although not all forward -looking statements contain such identifying words. These statements reflect the beliefs and expectations of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the duration of the COVID-19 pandemic and related impact on the oil and natural gas industry, the effectiveness of success at expansion in the Middle East, options available for market channels in North America, the deferral of the commercialization of the Strider technology, the success of the Company’s business strategy and prospects for growth; the market success of the Company’s specialized tools, effectiveness of its sales efforts, its cash flow and liquidity; financial projections and actual operating results; the amount, nature and timing of capital expenditures; the availability and terms of capital; competition and government regulations; and general economic conditions. These and other factors could adversely affect the outcome and financial effects of the Company’s plans and described herein. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

FINANCIAL TABLES FOLLOW.

⁽¹⁾ Adjusted EBITDA represents net income adjusted for income taxes, interest, depreciation and amortization and other items as noted in the reconciliation table. The Company believes Adjusted EBITDA is an important supplemental measure of operating performance and uses it to assess performance and inform operating decisions. However, Adjusted EBITDA is not a GAAP financial measure. The Company’s calculation of Adjusted EBITDA should not be used as a substitute for GAAP measures of performance, including net cash provided by operations, operating income and net income. The Company’s method of calculating Adjusted EBITDA may vary substantially from the methods used by other companies and investors are cautioned not to rely unduly on it.

For more information, contact investor relations:
Deborah K. Pawlowski
Kei Advisors LLC
(716) 843-3908
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BIRMINGHAM, Ala.--(BUSINESS WIRE)--Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), announced today they were recently recognized by the U.S. Environmental Protection Agency as a Green Power Partner for their Birmingham headquarters.

Last summer, Protective announced its collaboration with Alabama Power to operate its Birmingham headquarters with 100% renewable energy. The renewable energy credits retired for Protective’s headquarters were sourced through Alabama Power from the Chisholm View Wind Farm in Oklahoma, which provides power to Alabama Power under a long-term contract. Through these credits, Protective’s Birmingham campus uses approximately 19 million kilowatt-hours (kWh) of wind energy annually, and by choosing renewable energy, Protective is helping advance the voluntary market for green power and development of those sources.

“Protective is honored to be named to the EPA’s Green Power Partnership,” said Scott Adams, executive vice president, corporate responsibility, strategy and innovation for Protective. “As a company that helps people plan for their futures every day, we are also proud to be doing our part to make sure those futures are more sustainable.”

By moving the needle in the voluntary green power market, Protective and other Green Power Partners are helping to reduce the negative health impacts of air emissions including those related to ozone, fine particles, acid rain and regional haze.

"EPA applauds Protective Life Insurance Company’s Birmingham headquarters for its leadership position in the green power marketplace," said James Critchfield, Program Manager of EPA's Green Power Partnership. "They are an excellent example for other organizations in reducing greenhouse gas emissions through green power investment and use."

According to the U.S. EPA, Protective’s green power use at its Birmingham headquarters is equivalent to the electricity use of nearly 2,000 average American homes annually.

To learn more about Protective’s sustainability efforts, visit protective.com/sustainability.

About EPA’s Green Power Partnership

The Green Power Partnership is a partnership program that helps increase green power use among U.S. organizations to advance the American market for green power and development of those sources as a way to reduce air pollution and other environmental impacts associated with electricity use. In 2020, the Partnership had more than 700 Partners voluntarily using nearly 70 billion kilowatt-hours of green power annually. Partners include a wide variety of leading organizations such as Fortune 500^® companies; small and medium sized businesses; local, state, and federal governments; and colleges and universities. For additional information, please visit www.epa.gov/greenpower.

About Protective

Protective has helped people achieve protection and security in their lives for 115 years. Through its subsidiaries, Protective offers life insurance, annuity and asset protection solutions and is helping more than 12 million people protect what matters most. Protective’s more than 3,600 employees put people first and deliver on the Company’s promises to customers, partners, colleagues and communities - because we’re all protectors. With a long-term focus, financial stability and commitment to doing the right thing, Protective Life Corporation, a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), has grown to about $132 billion in assets, as of Dec. 31, 2021. Protective is headquartered in Birmingham, Alabama, and supported by both robust virtual workforce and core sites in Cincinnati and St. Louis. For more information about Protective, visit www.protective.com.

Hillary Carnel
This email address is being protected from spambots. You need JavaScript enabled to view it.
205-268-7879

Pilot Will Test How Ford F-150 Lightning EV Can Interact with Grid, Support Electric Reliability

SAN FRANCISCO--(BUSINESS WIRE)--Today, Pacific Gas and Electric Company (PG&E) and Ford Motor Company announced a collaboration exploring how Ford’s new F-150 Lightning electric vehicle (EV)—the first commercially available light-duty truck with bidirectional charging technology—can interact with the electric grid and provide electric reliability benefits to PG&E customers.

One in five EVs in the country are on the road in PG&E’s service area of Northern and Central California, where customers are often early adopters of new clean energy technologies.

PG&E and Ford will test the F-150 Lightning and its Intelligent Backup Power bidirectional charging capabilities in providing backup power for customers’ homes in PG&E’s service area. Intelligent Backup Power, making its debut on the F-150 Lightning, gives customers the ability to use bidirectional power technology from their all-electric truck to provide up to 10 days of power to their homes during an outage, depending on home energy usage. The first installations of Ford’s Intelligent Backup Power are beginning in spring 2022, supported by Sunrun as Ford’s preferred installation partner.

Through this early adopter opportunity, PG&E will explore how Ford’s Intelligent Backup Power technology interconnects to the electric grid, which is necessary for the truck’s battery to power the home, and how it can support customer resiliency during grid outages. Additionally, PG&E expects to learn more about the overall customer experience to help inform future collaborations as this emerging technology becomes more readily available.

“Today, we are seeing breakthrough opportunities at the intersection of the energy and transportation industries. As more electric vehicles and new charging technology become available, it is critical that we better understand how EVs can interact with the electric grid and how we can best support our customers. Through collaborations with automakers like Ford, we are innovating together for a cleaner, safer and brighter future for all,” said PG&E Corporation CEO Patti Poppe.

“This is a really big deal to take this next step of bidirectional charging, which Ford is uniquely positioned to do. We’re really excited to start with PG&E,” said James D. Farley, Jr., Chief Executive Officer, Ford Motor Company.

While EVs already provide customers with cleaner air and reduced maintenance costs, among other benefits, testing emerging technologies to optimize EV integration with the electric grid could provide further value to all PG&E customers. Beyond the initial deployment with a small number of customers’ homes, PG&E and Ford plan to explore additional use cases and potential for bidirectional charging technology in support of PG&E customers and the grid.

Supporting EV Adoption in California

Increasing EV adoption can play a critical role in supporting California’s goals to reduce emissions as transportation is the single largest source of greenhouse-gas emissions in the state, contributing nearly 40%. Passenger vehicles alone account for nearly 29% of the state’s total emissions. By 2035, 100% of California sales of new passenger cars and trucks will have zero tailpipe-emissions.

The electricity fueling EVs in California comes from one of the cleanest energy mixes in the country. PG&E estimates that 93% of its customers’ electricity in 2021 came from greenhouse gas-free resources.

PG&E supports its customers’ EV adoption. Through its EV charging infrastructure programs, PG&E helps to reduce one of the biggest barriers to EV adoption—the lack of available places to charge. PG&E helps increase access to EV chargers for customers across light-, medium- and heavy-duty vehicles through its EV Charge Network, EV Fleet and EV Fast Charge programs.

Additionally, PG&E offers electric rate plans tailored for EV drivers and provides tools such as PG&E’s EV Savings Calculator and Fleet Calculator (ev.pge.com and fleets.pge.com) to help customers understand costs when deciding whether to use an EV.

For more information, visit pge.com/ev.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.

Forward-Looking Statements

This news release contains forward-looking statements that are not historical facts, including statements about the beliefs, expectations, estimates, future plans and strategies of PG&E Corporation and PG&E, including but not limited to PG&E’s partnership with Ford and PG&E’s EV programs. These statements are based on current expectations and assumptions, which management believes are reasonable, and on information currently available to management, but are necessarily subject to various risks and uncertainties. In addition to the risk that these assumptions prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include factors disclosed in PG&E Corporation's and PG&E's joint annual report on Form 10-K for the year ended December 31, 2021, and other reports filed with the SEC, which are available on PG&E Corporation's website at www.pgecorp.com and on the SEC website at www.sec.gov. PG&E Corporation and PG&E undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise, except to the extent required by law.

MEDIA RELATIONS:
415-973-5930

CHARLOTTE, N.C.--(BUSINESS WIRE)--#carboncapture--Innovative Emissions Control Inc. (IEC), a special purpose investment company founded by investment professionals John Moore and Edoardo Bugnone, composed of Swiss and US investors and Cormetech’s management team, today announced that it has completed a transaction to buy Cormetech, Inc. Terms of the transaction were not disclosed.

Cormetech, headquartered in Charlotte, NC, is one of the world’s leading environmental product and services companies serving utility and industrial customers around the globe. Cormetech’s CEO Mike Mattes said, “We are delighted to partner with Edoardo and John and our fellow investors at IEC to acquire Cormetech. Our management team and I are excited to continue seamlessly executing on the current business plan.”

IEC Co-Founding partner Edoardo Bugnone said, “We are incredibly pleased to make this investment in Cormetech and to support Mike and his team. Our investment and growth capital are intended to provide the Company long-term stability of ownership and reflect our belief that Cormetech is uniquely positioned to grow globally and help reduce the environmental impact of coal and natural gas plants. We are also seeking to build on Cormetech’s leading technological platform to develop new innovative technologies, including in the carbon capture and water treatment fields.”

IEC Co-Founding partner and new Chairman of Cormetech John Moore said, “Mike and his team created the world’s only integrated new and regenerated SCR catalyst business. They offer their broad range of utility, marine, and refinery customers a unique solution for reducing the cost of NOx emissions compliance. Edoardo and I are excited by the terrific management team Mike has assembled, how we can build on the solid foundation they have established, and what we can accomplish with our customers and technology partners in the next decade together.”

About Cormetech

CORMETECH, Inc. is a world leader in manufacturing of high-quality environmental catalysts, providing SCR Catalyst regeneration and engineering services for the power, marine, industrial-process, refinery, and petrochemical markets. The company has leveraged more than 30 years of field experience and ceramic extrusion technology to create innovative catalyst products and services that meet our customers' needs globally. Cormetech, Inc. has four operating facilities, five distribution centers, 350 employees and annual revenues > $100 million. More information, visit www.cormetech.com, contact Scott Daugherty, Senior Vice President, Global Business Development at (919) 815-7448 or This email address is being protected from spambots. You need JavaScript enabled to view it..

Scott Daugherty
Senior Vice President, Global Business Development
(919) 815-7448
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MIAMI--(BUSINESS WIRE)--World Fuel Services Corporation (NYSE:INT) announced today that its board of directors has declared a quarterly cash dividend of $0.12 per share payable on April 8, 2022 to shareholders of record on March 25, 2022.

About World Fuel Services Corporation

Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services also offers natural gas and electricity, as well as energy advisory services, including programs for carbon offsets, sustainability solutions and renewable energy alternatives. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.

For more information, visit www.wfscorp.com.

Ira M. Birns
Executive Vice President & Chief Financial Officer
or
Glenn Klevitz
Vice President, Treasurer and Investor Relations
(305) 428-8000
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said today that Matt Furman has been elected vice president of public and government affairs, effective April 1, replacing Suzanne McCarron, who has elected to retire after 24 years of service.

“We welcome Matt to ExxonMobil and will leverage his knowledge and experience to enhance our corporate communications,” said Darren Woods, chief executive officer and chairman. “I thank Suzanne for her many contributions to the company’s success during her career and wish her all the best in retirement.”

Furman joins ExxonMobil from Best Buy Co. Inc., where he was chief communications and public affairs officer since 2012. At Best Buy, he oversaw internal and external communications, government affairs, corporate responsibility and sustainability, as well as the company’s corporate and foundation giving. Furman joined the company as it began its turnaround, widely viewed as one of the most successful in U.S. retail history.

Previously, Furman was the vice president of corporate affairs at Mars Chocolate and held senior communications positions at Google and CNN. Before entering the corporate sector, Furman worked in various public sector positions including as Director of Communications for the Federal Emergency Management Agency and the New York City Mayor’s Office of Emergency Management. He also served as Special Counsel and Spokesman for the National Transportation Safety Board.

Furman has a law degree from the American University School of Law and holds a bachelor’s degree from the State University of New York at Binghamton.

McCarron, who has been vice president since 2016, joined Mobil in 1998 as a manager in public affairs in Canada. Since that time, McCarron held assignments of increasing responsibility in ExxonMobil’s corporate headquarter in Irving, Texas, including general manager of public affairs and president of the ExxonMobil Foundation. Previous to her time with ExxonMobil, she served in various public affairs positions in the pharmaceutical and chemical industries.

McCarron holds a bachelor’s degree from Mount Saint Vincent University in Halifax, Nova Scotia, and a Master’s degree from the University of Western Ontario in London, Ontario.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.

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•  Fourth quarter revenue grew to $4.0 million, up over 2.5 times over the prior-year period and up 11% sequentially
• Revenue for 2021 increased 27% to $13.3 million driven by strong demand for SDP’s flagship Drill-N-Ream® wellbore conditioning tool and the significant recovery in oil & gas production in North America
• Achieved net income of $645 thousand for the quarter and Adjusted EBITDA* of $827 thousand, or 20.9% as a percent of revenue
• Ended year with $6.1 million in shareholders’ equity

*Adjusted EBITDA is a non-GAAP measure. See comments regarding the use of non-GAAP measures and the reconciliation of GAAP to non-GAAP measures in the tables of this release

VERNAL, Utah--(BUSINESS WIRE)--Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), a designer and manufacturer of drilling tool technologies, today reported financial results for the fourth quarter of 2021 ended December 31, 2021.

Troy Meier, Chairman and CEO, commented, “We had exceptional growth in demand for our Drill-N-Ream® wellbore conditioning tool (“DNR”) as the number of operators and rigs using the tool continues to grow. It would appear as well that we are now reaching a point where tool fleet replacement is required as tool sales in the quarter picked up measurably.”

He added, “We have been building out our team and focused on training to be able to deliver to demand in 2022. We are working hard to address the challenges of talent management and retention, stay ahead of supply chain constraints and meet our customers’ requirements as demand continues to expand.”

Fourth Quarter 2021 Review ($ in thousands, except per share amounts) (See at “Definitions” the composition of product/service revenue categories.)

Significant growth in revenue year-over-year reflected a strong recovery in the oil & gas industry especially in North America, growing market penetration of the Company’s DNR in North America and the related expanded demand for new drilling tools.

For the fourth quarter 2021, approximately 90% of revenue was from North America and approximately 10% from international markets, all within the Middle East. Revenue in North America grew year-over-year from increased tool revenue and strong growth in Contract Services.

Fourth Quarter 2021 Operating Costs

⁽¹⁾ Adjusted EBITDA is a non-GAAP measure defined as earnings before interest, taxes, depreciation and amortization, non-cash stock compensation expense and unusual items. See the attached tables for important disclosures regarding SDP’s use of Adjusted EBITDA, as well as a reconciliation of net loss to Adjusted EBITDA.

Gross margin was impacted by operating inefficiencies associated with labor shortages and supply chain constraints. Selling, general & administrative expenses were higher as a result of labor constraints and the inflationary impact of wages.

Net income of $645 thousand, or $0.02 per diluted share was primarily due to the recovery of principal and interest of a related party note receivable in the fourth quarter. Adjusted EBITDA⁽¹⁾ improved year-over-year to $827 thousand on higher net income.

The Company believes that when used in conjunction with measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), Adjusted EBITDA, which is a non-GAAP measure, helps in the understanding of its operating performance.

Full Year 2021 Review

Revenue of $13.3 million grew 27% over the prior year as a result of an improved market combined with strong demand for the Company’s products and services. Revenue in North America was up 35% which more than offset a 8.7% decline in international markets as the Middle East continued to address the global pandemic with containment restrictions.

Tool revenue was $9.2 million, up 31%, or $2.2 million, from the prior-year period driven by demand for the DNR, both new tools as well as repair and royalty revenue from DNR activity on more rigs throughout the year. Contract Services revenue increased approximately $667 thousand, or 19%, to $4.1 million for the year as the Company refurbished more tools for its legacy customer.

Operating expenses in 2021 were down $371 thousand, or 3%, compared with 2020. This was primarily as a result of lower amortization expense and the reorganization of the Company’s international business to improve profitability.

Other income in 2021 included $707 thousand for recovery of a related party note receivable, whereas 2020 benefitted from the $933 thousand in forgiveness on SBA loans.

The net loss in 2021 was $530 thousand, or ($0.02) per diluted share, improved over a net loss of $3.4 million, ($0.13) per diluted share in 2020.

Adjusted EBTIDA was $2.6 million in 2021, or 19.7% of revenue. This was up from an Adjusted loss before tax, interest, depreciation and amortization of $103 thousand in 2020.

Balance Sheet and Liquidity

Cash at the end of the quarter was $2.8 million, up $861 thousand from the end of 2020 and up $353 thousand from the trailing third quarter. Cash generated by operations for the year was $526 thousand. Long-term debt, including the current portion, at quarter-end was $2.5 million. The final $750 thousand of principal due on the note is payable on October 5, 2022.

During the quarter, the Company completed an equity offering of 1,739,131 shares of common stock at a price of $1.15 per share, which resulted in net proceeds of approximately $1.7 million.

Definitions and Composition of Product/Service Revenue:

Contract Services Revenue is comprised of repair and manufacturing services for drill bits and other tools or products for customers.

Other Related Tool Revenue is comprised of royalties and fleet maintenance fees.

Tool Sales/Rental revenue is comprised of revenue from either the sale or rent of tools to customers.

Tool Revenue is the sum of Other Related Tool Revenue and Tool Sales/Rental revenue.

Webcast and Conference Call

The Company will host a conference call and live webcast today at 10:00 am MT (12:00 pm ET) to review the results of the quarter and discuss its corporate strategy and outlook. The discussion will be accompanied by a slide presentation that will be made available prior to the conference call on SDP’s website at www.sdpi.com/events. A question-and-answer session will follow the formal presentation.

The conference call can be accessed by calling (201) 689-8470. Alternatively, the webcast can be monitored at www.sdpi.com/events. A telephonic replay will be available from 1:00 p.m. MT (3:00 p.m. ET) the day of the teleconference until Friday, March 18, 2022. To listen to the archived call, please call (412) 317-6671 and enter conference ID number 13727112 or access the webcast replay at www.sdpi.com, where a transcript will be posted once available.

About Superior Drilling Products, Inc.

Superior Drilling Products, Inc. is an innovative, cutting-edge drilling tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. The Company designs, manufactures, repairs and sells drilling tools. SDP drilling solutions include the patented Drill-N-Ream® wellbore conditioning tool and the patented Strider™ oscillation system technology. In addition, SDP is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field service company. SDP operates a state-of-the-art drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers’ custom products. The Company’s strategy for growth is to leverage its expertise in drill tool technology and innovative, precision machining in order to broaden its product offerings and solutions for the oil and gas industry.

Additional information about the Company can be found at: www.sdpi.com.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements and information that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this release, including, without limitations, the continued impact of COVID-19 on the business, the Company’s strategy, future operations, success at developing future tools, the Company’s effectiveness at executing its business strategy and plans, financial position, estimated revenue and losses, projected costs, prospects, plans and objectives of management, and ability to outperform are forward-looking statements. The use of words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project”, “forecast,” “should” or “plan, and similar expressions are intended to identify forward-looking statements, although not all forward -looking statements contain such identifying words. These statements reflect the beliefs and expectations of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the duration of the COVID-19 pandemic and related impact on the oil and natural gas industry, the effectiveness of success at expansion in the Middle East, options available for market channels in North America, the deferral of the commercialization of the Strider technology, the success of the Company’s business strategy and prospects for growth; the market success of the Company’s specialized tools, effectiveness of its sales efforts, its cash flow and liquidity; financial projections and actual operating results; the amount, nature and timing of capital expenditures; the availability and terms of capital; competition and government regulations; and general economic conditions. These and other factors could adversely affect the outcome and financial effects of the Company’s plans and described herein. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

FINANCIAL TABLES FOLLOW.

⁽¹⁾ Adjusted EBITDA represents net income adjusted for income taxes, interest, depreciation and amortization and other items as noted in the reconciliation table. The Company believes Adjusted EBITDA is an important supplemental measure of operating performance and uses it to assess performance and inform operating decisions. However, Adjusted EBITDA is not a GAAP financial measure. The Company’s calculation of Adjusted EBITDA should not be used as a substitute for GAAP measures of performance, including net cash provided by operations, operating income and net income. The Company’s method of calculating Adjusted EBITDA may vary substantially from the methods used by other companies and investors are cautioned not to rely unduly on it.

For more information, contact investor relations:
Deborah K. Pawlowski
Kei Advisors LLC
(716) 843-3908
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The Louisiana Green Fuels plant, which will produce the lowest carbon footprint liquid fuel in the world, advances to Front End Engineering Design

COLUMBIA, La.--(BUSINESS WIRE)--#CCS--Strategic Biofuels, the leader in developing negative carbon footprint renewable fuels plants, announced today that its Louisiana Green Fuels project (LGF) has finished the Preliminary Engineering phase (FEL-2), and having successfully completed all success criteria, has moved into the Front End Engineering Design (FEED) or FEL-3 phase of engineering.

“The transition to FEED is a major achievement for Strategic Biofuels and the industry, as many projects get stuck at the FEL-2 stage and are not able to advance further. We’ve demonstrated that further investment is warranted and raised the funds that allow us to advance the project to the next phase,” said Dr. Paul Schubert, CEO of Strategic Biofuels. “This FEED stage will progress the project to the point where it can be fully financed in order to begin construction in early 2023. We are thankful for the ongoing support from the State of Louisiana and our many partners that have been major contributors to advancing this project into the next development stage.”

Strategic Biofuels selected Hatch as its engineering partner and Koch Project Solutions as the Project Management and EPC partner at the project’s inception. Through collaborative teamwork, LGF has benefited from the expertise both partners bring to the project.

“At Hatch we believe in innovating in all we do. The rapid progress of the Louisiana Green Fuels project is a testament to the innovative business, technical, and project development approach that has been a hallmark of this project from its inception,” said Robert Francki, Global Managing Director for Energy at Hatch. “It goes to show that doing our collective homework and doing it right, is a tremendous advantage in the pursuit of our common goal to urgently mitigate the effects of climate change.”

During the FEL-2 phase, the specific set of process operating conditions and equipment necessary to achieve the level of reliability, efficiency, and safety required was established, setting the direction for the rest of the project. The design advancement and optimization during the phase resulted in a further 10 percent reduction in the carbon footprint of the renewable diesel and naphtha than previously estimated. This has resulted in a carbon intensity of -278, which is a 378 percent reduction in carbon emissions compared to fossil fuel production, making it the lowest carbon footprint liquid fuel in the world.

“The consistent progress throughout the previous stages of the Louisiana Green Fuels project is a testament to the collaborative environment created by Strategic Biofuels,” said Paul Switzer, president of Koch Project Solutions. “Koch is fortunate to be part of such a capable group of partners, all focused on bringing innovative solutions to the market and proving the viability of renewable synthetic diesel fuel.”

Both Hatch and Koch Project Solutions will continue to play crucial roles during FEED and beyond through construction, commissioning, and start-up of the plant. For more information about Strategic Biofuels or the Louisiana Green Fuels project, visit: www.strategicbiofuels.com.

About Strategic Biofuels

Strategic Biofuels LLC is a team of energy, petrochemical and renewable technology experts focused on developing a series of deeply negative carbon footprint plants in northern Louisiana that convert waste materials from managed forests into renewable diesel fuel and renewable naphtha. The fuel qualifies for substantial Carbon Credits under the Federal Renewable Fuel Standard Program and under the California Low Carbon Fuels Standard.

About Louisiana Green Fuels

Louisiana Green Fuels is the first project by Strategic Biofuels LLC in Northern Louisiana at the Port of Columbia in Caldwell Parish. The plant and its accompanying Class VI Carbon Capture and Sequestration (CCS) Well will be the first renewable diesel project in North America to achieve “negative” carbon emissions. The feedstock for the plant is forestry waste from managed and sustainable forests.

Hunter Dodson
713-627-2223
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The Project is Expected to Reduce the City’s Reliance on Fossil Fuels, Generate Clean Energy and Achieve Sustainability Goals

VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #GreenEnergy--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy-as-a-Service (EaaS) solutions, announced today that its distributor for the Upper Midwest, New England and Eastern Canada Vergent Power Solutions (www.vergentpower.com), has secured a contract to provide a one-megawatt microturbine system to be installed in a landfill gas-to-energy project for a solid waste facility in New England. The renewable energy project will convert the gas generated by waste at the landfill to electricity that will be redistributed to the electrical grid and utilized by the city to power its municipal facilities.

The waste to energy project is expected to be commissioned in early 2023. Currently, the landfill generates and flares approximately 350 standard cubic feet per minute (scfm) of landfill gas. The new project will convert all of this gas into electricity by utilizing the highly-efficient Capstone C1000S microturbine system. The conversion process will generate one megawatt of clean and reliable electricity and deliver a continuous renewable source of revenue for the city. Bringing this project to fruition is expected to reduce greenhouse gas emissions in New England by 3,500 tons per year.

“Vergent Power dedicated many years to develop this important project, which reflects the New England region’s path towards decarbonization,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “The project clearly demonstrates Capstone microturbines’ ultra-clean emission and beneficial product features such as UL1741 SA-certified power electronics that enable simplified interconnection with the utility grid as well as potential future microgrids in the area. We look forward to many more innovative, carbon-reducing projects from Vergent Power in New England in the future,” added Mr. Jamison.

After a thorough analysis comparing various distributed generation technologies, officials ultimately chose low-emission Capstone Green Energy microturbines as the ideal solution for their scalability, resiliency, and ability to reduce energy costs to taxpayers.

“Vergent Power is proud to support this municipal customer and its progressive efforts to have 100% renewable power in 2023. Utilizing renewable biogas generated by wastewater treatment plants and landfills is an excellent way for communities to transition to renewable energy. This one-megawatt plant will be Vergent Power’s eleventh renewable energy system in our North American operating fleet comprising more than thirty microturbines running on biogas,” said Justin Rathke, President, Vergent Power Solutions.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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DUBLIN--(BUSINESS WIRE)--The "Building Integrated Photovoltaics (BIPV) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Building Integrated Photovoltaics (BiPV) Market to Reach $20.1 Billion by 2026

The global market for Building Integrated Photovoltaics (BiPV) estimated at US$10.3 Billion in the year 2020, is projected to reach a revised size of US$20.1 Billion by 2026, growing at a CAGR of 12.4% over the analysis period.

C-Si, one of the segments analyzed in the report, is projected to record a 12.3% CAGR and reach US$16.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thin Film segment is readjusted to a revised 13.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $4.1 Billion by 2026

The Building Integrated Photovoltaics (BiPV) market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world's second largest economy, is forecast to reach a projected market size of US$4.1 Billion by the year 2026 trailing a CAGR of 16.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 11.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.

A confluence of factors is expected to drive growth in the market in the post COVID-19 period, including the declining cost per watt; enhanced aesthetics of BIPV; improving efficiency of c-Si modules as well as flexible thin-film panels; and unabated desire among residential and commercial building owners to 'go green'.

In the post COVID-19 period, BIPV adoption will be driven by anticipated rise in the construction activity in countries such as the US. In addition, there is also promise for BIPV technology adoption in developing economies such as China, India, Africa, and Latin America, which not only lack the infrastructure required for enabling traditional solar installations but also do not have the adequate grid infrastructure network. This implies that customers in such developing economies will move to distributed networks rather than choose the grid linked network, thus presenting significant potential for BIPV products.

New constructions, retrofits and refurbishment works in both commercial and residential sectors are expected to drive demand for BIPV products in the coming years. Advancements in technology that enhance efficiency as well as reduce silicon prices and thus BIPV costs is also expected to fare well for the market's progress in the foreseeable future.

BIPV companies are also eyeing opportunities in emerging markets such as Asia-Pacific, particularly India for market expansion. Going forwards, building integrated PV is expected to generate significant economic interest in the future development of the low-energy housing market, and in PV roof applications and curtain wall installations.

By Application, Roofs Segment to Reach $11.6 Billion by 2026

Roofs are one of the most common applications of BIPV systems. This is because of the fact that pitched roofs at a specific angle are known to offer best energy harvesting. BIPV roof solutions make use of thin film as well as C-Si technologies.

While c-Si is the dominant technology, thin film technology finds use in case of shading caused by trees or structures such as chimneys that could lower efficiency levels if c-Si panels are used. Thin film technology is typically used only when crystalline modules cannot be used owing to their rigidity and heavy weight, or when the modules are required to be used on curved roofs.

Global market for Roofs (Application) segment is estimated at US$6.1 Billion in 2020, and is projected to reach US$11.6 Billion by 2026 reflecting a compounded annual growth rate of 12.0% over the analysis period.

Europe constitutes the largest regional market for Roofs segment, accounting for 41.6% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 15.7% over the analysis period, to reach US$3.1 Billion by the end of the analysis period.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• With COVID-19 Pandemic Crushing the Sentiment in the World Construction Sector, BIPV Market Set to Exhibit Substantial Decline in 2020
• COVID-19 Induced Supply Chain Disruptions Weaken Construction Activity, Curtailing Demand for BIPV Solutions
• Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Strongly Discourage BIPV Market
• Introduction to Building Integrated Photovoltaics (BIPV)
• An Insight into BIPV Technologies
• Cell and Module Efficiency of Commercial PV Technologies: A Comparison
• Comparison between Crystalline Silicon and Thin Film Technologies
• Comparison Chart of Solar Cell Efficiencies for Crystalline Silicon and Thin Films with respect to Temperature
• BIPV Applications
• Merits & Demerits of BIPV Products in Various Applications
• As the New Age 'Building Envelope Material' and 'Power Generator', BIPV Set to Resume Progressive Gains in Post COVID-19 Environment
• Growth Drivers in a Nutshell
• Image of BIPV as an Economically Viable, Multifunctional, Renewable Energy Source for Buildings to Stir Future Opportunities
• Developed Countries Lead Market, Developing Economies to Spearhead Future Growth
• Analysis by Technology Type
• C-Si: Primary Technology Vertical in the BIPV Domain
• Thin Film Technology Set to Make Robust Gains
• Analysis by Application Type
• Roofing Remains the Largest Application Segment for BIPV Market
• With Solar Roofing Shingles & Tiles Gaining Popularity, Roofing Set to Solidify its Dominant Position
• Glass Emerges as High Growth Application Segment
• BIPV Walls Seek to Widen Addressable Market
• Facades: Niche Application Area
• Competitive Scenario: BIPV Market Characterized by High Degree of Fragmentation
• Recent Market Activity
• Glass Industry Players Seek Opportunities in BIPV Vertical

2. FOCUS ON SELECT PLAYERS (Total 104 Featured)

• Ascent Solar Technologies, Inc.
• Canadian Solar, Inc.
• Greatcell Energy Limited
• First Solar, Inc.
• Hanergy Holding Group Ltd.
• Global Solar Energy, Inc.
• Hanwha Q CELLS Co., Ltd.
• Heliatek GmbH
• Sharp Corporation
• Trina Solar
• Wuxi Suntech Power Co., Ltd.
• Yingli Green Energy Holding
• AGC Inc.
• BELECTRIC GmbH
• CertainTeed Corporation
• Ertex solartechnik GmbH
• Onyx Solar Energy S.L.
• Romag
• Scheuten Glas Nederland B.V.

3. MARKET TRENDS & DRIVERS

• Emphasis on Energy-Efficient, Green, LEED Buildings Builds Fertile Environment for BIPV Market
• Relevance of Zero Energy Building Constructions Bodes Well for Future Growth
• Smart City, the New Urban Infrastructure Model, to Steer Next Wave of Growth in BIPV Market
• Sustained Rise in Global Electricity Demand Creates Conducive Scenario for Wider Uptake of BIPV Solutions
• BIPV Market Stands to Gain from Growing Focus on Renewable Energy Sources
• Targets for Electricity Production from Renewable Energy Sources in Select Countries
• With Solar Energy Emerging as Reliable Renewable, BIPV Anticipates Parallel Momentum
• Government Participation in Boosting Solar Energy Uptake Elevates Momentum in BIPV Domain
• Future Prospects Remain Favorable Amid Growing Population & Urbanization Drive
• Industrial Sector: Largest Revenue Contributor
• Fast Paced Growth Anticipated in Commercial Buildings Vertical
• BIPV Solutions Remain Highly Relevant in Residential Buildings
• Besides New Installations, High-Growth Opportunities Exist for BIPV in Retrofit Market
• Retrofit Opportunity in Government, Prestige, & Historic Buildings Verticals
• Technology Advancements & Product Innovations Widen Addressable Market for BIPV Solutions
• Advanced R&D Efforts Bring Forth BIPV-T Solar Roofing Technology
• Colored Photovoltaic Continue to Gain Traction in BIPV R&D Programs
• Customized PV Systems Emerge as New R&D Focus Area
• Sonnenstromfabrik Brilliant PV Modules
• IRIG Develops Self-Adjusting BIPV Panels
• Meyer Burger's SmartWire Connection Technology (SWCT)
• Metal Wrap Through (MWT) Technology
• Passivated Emitter and Rear Cell (PERC) Technology
• Organic Solar PV Cells
• DysCrete Building Material
• Solar Cloth PVs
• Perovskite Materials
• A Glance at BIPV-Related Standards & Codes
• International Electrotechnical Commission (IEC) Standards
• Underwriters Laboratory (UL) Standards
• Growth Barriers & Restraints

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/x6iv0f

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Voltus recognized for employee satisfaction, company reputation, and significant growth

SAN FRANCISCO & BOSTON--(BUSINESS WIRE)--Voltus, Inc. (“Voltus”), the leading distributed energy resource (DER) software technology platform, has been featured on the Forbes list of America's Best Startup Employers 2022. The list recognizes innovative and high-growth startups that exceed employee satisfaction and foster a positive culture.

“It is an honor to be recognized by Forbes as among the top 50 companies for growing quickly, while creating a positive and engaging environment,” says Carey Albertine, Voltus Vice President of People and Culture. “Voltus’s goal is to provide the best professional experience of every Voltan’s life. We provide our team with competitive cash and equity compensation, a practice of promoting from within, and the opportunity to contribute directly to the future health of our planet by helping to build a cleaner and more resilient electric grid, a concept we call ‘doing well by doing good.’ We hold ourselves accountable to this goal each quarter by measuring and reporting on our team’s happiness and productivity. Nothing is more important than our team, and our efforts toward hiring and retaining the absolute best team will be all the more important as we move toward becoming a publicly traded company.”

To compile the annual list, Forbes evaluated 2,500 U.S. businesses founded between 2012 and 2019 with at least 50 employees on three criteria: employer reputation, employee satisfaction, and growth.

About Voltus

Voltus is the leading software technology platform connecting distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and DER partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.

On November 30, 2021 Voltus and Broadscale Acquisition Corp. (“Broadscale”) (Nasdaq: SCLE), entered into a definitive merger agreement. Upon the closing of the transaction, the combined company will be named Voltus Technologies, Inc. and is expected to remain on the Nasdaq under the new ticker symbol “VLTS.” The transaction is expected to close in the first half of 2022 and requires the approval of Broadscale’s stockholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions.

Forward-Looking Statements

This communication contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, including certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including statements as to future results of operations and financial position, revenue and other metrics planned products and services, business strategy and plans, objectives of management for future operations of Voltus, Inc. (“Voltus”), market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. All 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. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by Broadscale Acquisition Corp. (“Broadscale”) and its management, and Voltus and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: 1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive merger agreement with respect to the business combination; 2) the outcome of any legal proceedings that may be instituted against Voltus, Broadscale, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; 3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Broadscale or Voltus, or to satisfy other conditions to closing the business combination; 4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; 5) the ability to meet Nasdaq’s listing standards following the consummation of the business combination; 6) the risk that the business combination disrupts current plans and operations of Voltus as a result of the announcement and consummation of the business combination; 7) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; 8) costs related to the business combination; 9) changes in applicable laws or regulations; 10) the possibility that Voltus or the combined company may be adversely affected by other economic, business and/or competitive factors; 11) Voltus’s estimates of its financial performance; 12) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of Broadscale’s securities; 13) the risk that the transaction may not be completed by Broadscale’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Broadscale; 14) the impact of the novel coronavirus disease pandemic, including any mutations or variants thereof, and its effect on business and financial conditions; 15) inability to complete the PIPE investment in connection with the business combination; and 16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Broadscale’s registration statement on Form S-4 (File No. 333-262287), filed with the SEC on January 21, 2022 (the “Registration Statement”) and other documents filed by Broadscale from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Broadscale nor Voltus gives any assurance that either Broadscale or Voltus or the combined company will achieve its expected results. Neither Broadscale nor Voltus undertakes any duty to update these forward-looking statements, except as otherwise required by law.

Use of Projections

This communication may contain financial forecasts of Voltus. Neither Voltus’s independent auditors, nor the independent registered public accounting firm of Broadscale, audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this communication, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this communication. These projections should not be relied upon as being necessarily indicative of future results. The projected financial information contained in this communication constitutes forward-looking information. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Actual results may differ materially from the results contemplated by the projected financial information contained in this communication, and the inclusion of such information in this communication should not be regarded as a representation by any person that the results reflected in such projections will be achieved.

Additional Information and Where to Find It

In connection with the proposed transaction, Broadscale has filed with the U.S. Securities and Exchange Commission the Registration Statement, which included a preliminary proxy statement and a preliminary prospectus. After the Registration Statement has been declared effective, Broadscale will mail a definitive proxy statement /prospectus relating to the proposed transaction to its stockholders as of the record date established for voting on the proposed transactions. Broadscale’s stockholders and other interested persons are urged to carefully read the Registration Statement, including the preliminary proxy statement / preliminary prospectus, and any amendments thereto, and, when available, the definitive proxy statement/prospectus and other documents filed in connection with the proposed transaction, as these materials contain, or will contain, important information about the proposed transaction and the parties to the proposed transaction.

Broadscale’s stockholders and other interested persons will be able to obtain free copies of the Registration Statement, the preliminary proxy statement / preliminary prospectus, the definitive proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC, without charge, when available, at the website maintained by the SEC at www.sec.gov.

The documents filed by Broadscale with the SEC also may be obtained free of charge at Broadscale’s website at https://www.broadscalespac.com or upon written request to 1845 Walnut Street, Suite 1111, Philadelphia, PA 19103.

NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS COMMUNICATION, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS COMMUNICATION. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.

Participants in the Solicitation

Broadscale and Voltus and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed transactions. Broadscale’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of Broadscale listed in the Registration Statement. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed business combination is set forth in the Registration Statement.

No Offer or Solicitation

This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Investor Relations Contact – Voltus
Sioban Hickie, ICR, Inc.
Eduardo Royes, ICR, Inc.
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Media Contact – Voltus
Matt Dallas, ICR, Inc.
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