Week-long programming on technology, innovation and decarbonization—centered in the “CERAWeek Innovation Agora”—will be a major focus at the world’s preeminent energy conference, to be held in Houston March 7-11

HOUSTON--(BUSINESS WIRE)--Adam Selipsky, CEO of Amazon Web Services (AWS), will be among the technology and innovation speakers at CERAWeek by S&P Global 2022—the world’s preeminent energy conference—to be held in Houston March 7-11.

Mr. Selipsky will speak on how technology is helping the industry transform, innovate and accelerate the energy transition, and will join a lineup of technology leaders that includes Microsoft executive vice president for cloud and artificial intelligence, Scott Guthrie, Rivian CEO RJ Scaringe, Energy Futures Initiative CEO Energy Ernest J. Moniz and Chevron vice president, innovation and president of Chevron Technology Ventures, Barbara Burger.

CERAWeek 2022: Pace of Change: Energy, Climate and Innovation will examine the challenges and opportunities of reducing emissions while supplying the needs of a growing global economy in the era of energy transition. The conference is returning to Houston for its 40th annual gathering after being hosted as an all-virtual event in 2021.

The CERAWeek Innovation Agora, will serve as the center of technology and innovation programming at the event. Featuring a community of thought leaders, technologists, start-ups, investors, academics, energy companies and government officials, the Innovation Agora will showcase transformational technology platforms in the energy space ranging from digitalization, AI, analytics and connectivity, robotics, blockchain, additive manufacturing, mobility and decarbonization.

The CERAWeek Innovation Agora program is available to all CERAWeek registrants and will comprise a series of candid conversations, on-demand presentations and discussions, including its signature Voices of Innovation series of intimate, one-on-one conversations with thought leaders, as well as Agora Studios featuring moderated dialogues with 2-3 guest speakers on emerging and disruptive technologies.

Newly added for 2022 will be “Agora Hubs,” dedicated zones for sharing ideas and insights and exploring the technology frontiers around a central topic for the industry.

The 2022 Agora Hubs will focus on hydrogen and carbon management. Key topics to be explored in the Agora Hubs include:

Hydrogen Hub

• Geopolitics of Hydrogen: Policy drivers and strategic visions
• Hydrogen’s Impact on Oil Markets: Fuel cell cars and trucks
• Using Low-carbon Gas: Industrial end uses
• Hydrogen in Power Markets: Storing renewable power

Carbon Management Hub

• Driving Low-carbon Innovation: Criteria for investing in early-stage companies
• Sustainable Transport: Growing biofuels and green fuels production
• Direct Air Capture: What will it take to scale up enough
• Methane Reduction in Oil and Gas and Related Data Analytical Solutions
• Next Gen: Entering the energy industry
• Breakthroughs in Nature-based Solutions: Afforestation and reforestation

“The importance of the technology and innovation program at CERAWeek, centered in the CERAWeek Innovation Agora, underscores how technology and energy have become synonymous with each other,” said James Rosenfield, senior vice president, S&P Global and co-chairman of CERAWeek. “Whether it is electrification and the mobility future; harnessing digitization, AI and advanced robotics to expand capabilities and improve efficiencies; charting new pathways to decarbonization with fuels of the future and advanced carbon capture at scale; and even new models for finance and investment, technology and energy are inseparable from one another in shaping the future.”

“The convergence of technology and energy is embodied in this year’s conference theme, ‘Pace of Change’,” said Daniel Yergin, vice chairman, S&P Global and CERAWeek conference chair. “A new wave of innovation will play a vital role in setting the pace by which the challenges and opportunities of the energy future are met.

Learn more about the CERAWeek Innovation Agora program at: https://ceraweek.com/program/innovation-agora.html

CERAWeek by S&P Global is the premier annual international gathering of the world’s energy industry leaders, experts, government officials and policymakers, as well as leaders from the technology, financial and industrial communities. The conference is produced by S&P Global (NYSE: SPGI).

The CERAWeek 2022 conference program will explore key themes related to More Energy, Lower Emissions; Geopolitics and Energy Markets; Workforce of the Future; Competitive Landscape and the Energy Transition; Supply Chains; and Financing the Energy Future.

Visit www.ceraweek.com for a complete list of speakers and the most up-to-date program information (subject to change).

Registration Information

CERAWeek by S&P Global 2022 will be held March 7-11 at the Hilton Americas—Houston. Further information and delegate registration is available at www.ceraweek.com.

Media Accreditation

Media registration is now open. Members of the media interested in covering CERAWeek 2022 are required to apply for accreditation. Applications are subject to approval and can be submitted at the following link: https://ceraweek.com/about/press.html

S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world.

We are widely sought after by many of the world’s leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world’s leading organizations plan for tomorrow, today. For more information, visit www.spglobal.com.

News Media Contacts:

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IHS Markit
+1 202 463 8213
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• Shareholder webcast and conference call with Paulo Misk, President and CEO, Ernest Cleave, CFO, Paul Vollant, VP of Commercial and Stephen Prince, President of Largo Clean Energy will be conducted at 10:00 a.m. ET on Thursday, March 17, 2022

TORONTO--(BUSINESS WIRE)--$LGO #VRFB--Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) will release its fourth quarter and annual 2021 financial results on Wednesday, March 16 after the close of market trading. Additionally, the Company will host a webcast and conference call to discuss its fourth quarter and annual 2021 operating and financial results on Thursday, March 17 at 10:00 a.m. ET.

Details of the webcast and conference call are listed below:

About Largo

Largo has a long and successful history as one of the world’s preferred vanadium companies through the supply of its VPURE^TM and VPURE+^TM products, which are sourced from one of the world's highest-grade vanadium deposits at the Company's Maracás Menchen Mine in Brazil. Following the acquisition of vanadium redox flow battery technology in 2020, Largo is undergoing a strategic transformation to vertically integrate its world-class vanadium products with its VCHARGE vanadium battery technology to support the planet's on-going transition to renewable energy and a low carbon future. Largo’s VCHARGE batteries are uniquely capable of supporting reliability and grid stability as electricity systems move away from fossil-fuel generation. VCHARGE batteries are cost effective due to a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan.

Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol "LGO". For more information, please visit www.largoinc.com.

Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
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Re-appointment of Three Port Commissioners Acknowledged

HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority met Thursday at its regular monthly meeting and reported out that Port Houston saw an incredible 19% growth in cargo tonnage for January 2022.

Port Chairman Ric Campo kicked off the meeting by recognizing the re-appointments of three Port Commissioners to new two-year terms. Commissioner Stephen DonCarlos was reappointed by the Harris County Mayors and Councils Association in December, Cheryl Creuzot by the Houston City Council in early February, and Commissioner Wendy Montoya Cloonan last week, by Harris County Commissioners Court.

During the February meeting, Chairman Campo commemorated Black History Month in his opening remarks, adding that “diversity is a journey, not a destination.” He continued, “Black History Month is important at Port Houston because it honors the legacy and influence of Black people in our country, our region and our own port team.”

He celebrated the 1978 appointment of Howard J. Middleton Jr. as the first Black man named to the Port Commission, and Cheryl Creuzot as the first Black woman appointed to the Port Commission, in 2020.

On the infrastructure front, Chairman Campo announced that work on Project 11’s Segment 1A, using the cleanest dredge equipment ever seen in the Houston Ship Channel, was expected to begin at the end of March. The vessels are being specially outfitted for 48% improvement over Tier 3 dredge equipment standards.

In his staff report, Executive Director Roger Guenther underscored the historic cargo growth at Port Houston, citing the 15% increase in 2021. Guenther elaborated, “We have been able to do this with the incredible work of our port employees, supply chain partners, and team.”

Port Commissioner Stephen DonCarlos added his own appreciation: “I want to commend all of the port people who have been responsible for helping us get this cargo on and off the docks. They have done a tremendous job in difficult times, and I want to commend them for that.”

During the meeting, actions taken by the commission continued to support Port Houston’s strategic goals: People, Infrastructure, Partnerships, and Stewardship. Highlights included approval of agreements to design the rehabilitation of wharves at Barbours Cut container terminal and reconstruction of 87 acres of its container yards. Additionally, the commission approved a Memorandum of Agreement with the U.S. Army Corps of Engineers for maintenance dredging of docks at the Turning Basin general cargo terminal.

The Commission also authorized funding to improve public trails in the City of Galena Park, as part of the Port Houston’s East Harris County parks and greenspace initiative, and Chief People Officer Jessica Shaver highlighted that Port Houston was opening the 2022 Community Grants Program. March 4^th is the deadline to submit a letter of interest to participate in the program, with $325,000 of funding for this cycle.

Finally, the Port Commission named Shannon Williams as Port Houston’s new Chief Audit Executive. Her work will include coordinating operational, financial, and compliance audits.

The next regular Port Commission meeting is scheduled for Monday, March 21.

About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at www.PortHouston.com.

Lisa Ashley, Director, Media Relations
Office: 713-670-2644; Mobile: 832-247-8179
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HOUSTON--(BUSINESS WIRE)--$HESM--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) today reiterated its first quarter and full-year 2022 guidance, which includes approximately 95% minimum volume commitment (“MVC”) revenue, as Hess Midstream’s physical volumes are generally expected to be at or below MVC levels and full year throughput volume guidance remains unchanged. Hess Midstream continues to target 5% annual distribution per share growth through 2024 with annual distribution coverage greater than 1.4x, including distribution coverage greater than 1.5x in 2022. In addition, Hess Midstream is expected to generate Adjusted Free Cash Flow more than sufficient to fully fund targeted distributions in 2022, and for leverage to be approximately 2.6x Adjusted EBITDA on a full-year basis, which is expected to provide capital allocation flexibility.

About Hess Midstream

Hess Midstream LP is a fee‑based, growth-oriented midstream company that operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third‑party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.

Reconciliation of U.S. GAAP to Non‑GAAP Measures

In addition to our financial information presented in accordance with U.S. generally accepted accounting principles (“GAAP”), management utilizes certain additional non‑GAAP measures to facilitate comparisons of past performance and future periods. “Adjusted EBITDA” presented in this release is defined as reported net income (loss) before net interest expense, income tax expense, depreciation and amortization and our proportional share of depreciation of our equity affiliates, as further adjusted to eliminate the impact of certain items that we do not consider indicative of our ongoing operating performance, such as transaction costs, other income and other non‑cash, non‑recurring items, if applicable. “Distributable Cash Flow” or “DCF” is defined as Adjusted EBITDA less net interest, excluding amortization of deferred financing costs, cash paid for federal and state income taxes and maintenance capital expenditures. DCF does not reflect changes in working capital balances. We define “Adjusted Free Cash Flow” as DCF less expansion capital expenditures and ongoing contributions to equity investments. We believe that investors’ understanding of our performance is enhanced by disclosing these measures as they may assist in assessing our operating performance as compared to other publicly traded companies in the midstream energy industry, without regard to historical cost basis or, in the case of Adjusted EBITDA, financing methods, and assessing the ability of our assets to generate sufficient cash flow to make distributions to our shareholders. These measures are not, and should not be viewed as, a substitute for GAAP net income or cash flow from operating activities and should not be considered in isolation. Reconciliations of Adjusted EBITDA, DCF and Adjusted Free Cash Flow to reported net income (GAAP) are provided below. Hess Midstream is unable to project net cash provided by operating activities with a reasonable degree of accuracy because this metric includes the impact of changes in operating assets and liabilities related to the timing of cash receipts and disbursements that may not relate to the period in which the operating activities occur. Therefore, Hess Midstream is unable to provide projected net cash provided by operating activities, or the related reconciliation of projected Adjusted Free Cash Flow to projected net cash provided by operating activities without unreasonable effort.

Cautionary Note Regarding Forward-looking Information

This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation: our future financial and operational results; our business strategy; our industry; our expected revenues; our future profitability; our maintenance or expansion projects; our projected budget and capital expenditures and the impact of such expenditures on our performance; and future economic and market conditions in the oil and gas industry.

Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: the direct and indirect effects of the COVID-19 global pandemic and other public health developments on our business and those of our business partners, suppliers and customers, including Hess; the ability of Hess and other parties to satisfy their obligations to us, including Hess’ ability to meet its drilling and development plans on a timely basis or at all, its ability to deliver its nominated volumes to us, and the operation of joint ventures that we may not control; our ability to generate sufficient cash flow to pay current and expected levels of distributions; reductions in the volumes of crude oil, natural gas, natural gas liquids (“NGLs”) and produced water we gather, process, terminal or store; the actual volumes we gather, process, terminal or store for Hess in excess of our MVCs and relative to Hess' nominations; fluctuations in the prices and demand for crude oil, natural gas and NGLs, including as a result of the COVID-19 global pandemic; changes in global economic conditions and the effects of a global economic downturn on our business and the business of our suppliers, customers, business partners and lenders; our ability to comply with government regulations or make capital expenditures required to maintain compliance, including our ability to obtain or maintain permits necessary for capital projects in a timely manner, if at all, or the revocation or modification of existing permits; our ability to successfully identify, evaluate and timely execute our capital projects, investment opportunities and growth strategies, whether through organic growth or acquisitions; costs or liabilities associated with federal, state and local laws, regulations and governmental actions applicable to our business, including legislation and regulatory initiatives relating to environmental protection and safety, such as spills, releases, pipeline integrity and measures to limit greenhouse gas emissions; our ability to comply with the terms of our credit facility, indebtedness and other financing arrangements, which, if accelerated, we may not be able to repay; reduced demand for our midstream services, including the impact of weather or the availability of the competing third-party midstream gathering, processing and transportation operations; potential disruption or interruption of our business due to catastrophic events, such as accidents, severe weather events, labor disputes, information technology failures, constraints or disruptions and cyber-attacks; any limitations on our ability to access debt or capital markets on terms that we deem acceptable, including as a result of weakness in the oil and gas industry or negative outcomes within commodity and financial markets; liability resulting from litigation; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission.

As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

For Hess Midstream LP

Investor Contact:
Jennifer Gordon
(212) 536-8244

Media Contact:
Robert Young
(713) 496-6076

• Two leading distributors focused on servicing the water and wastewater treatment markets
• Adds New Rotating Equipment Geography
• Continues to Accelerate End Market Diversification
• Attractive Margins and Cash Flow

HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that it has completed the acquisitions of Drydon Equipment, Inc. (“Drydon”) and Burglingame Engineers ("Burlingame”).

Drydon is a leading distributor and manufacturers representative of pumps, valves, controls and process equipment focused on serving the water and wastewater industry in the Central and Northern Illinois, Northwest Indiana, Wisconsin and the Upper Peninsula of Michigan territories and markets. Burlingame is a leading California provider of water and wastewater equipment in the industrial and municipal sectors. Financial terms of the transactions were not disclosed. DXP funded the acquisitions with cash from the balance sheet and DXP Enterprises, Inc. common stock as consideration.

“We are pleased to announce these acquisitions and start the year off with great additions to our water and wastewater growth efforts. We are excited to have Drydon and Burlingame join the DXP family. Each company provides DXP with exceptional sales expertise that will enhance our efforts and our ability to collaborate and serve our customers as well as grow our DXP Water platform. These acquisitions are consistent with our growth strategy and demonstrate our commitment to expanding DXP into the water and wastewater treatment markets as well as maintaining our leading position as the largest distributor of rotating equipment in North America,” commented David Little, CEO of DXP.

Signing of the definitive agreements occurred on March 1, 2022. Sales and adjusted EBITDA for Drydon and Burlingame for the last twelve months ending December 31, 2021 were approximately $8.9 million and $1.4 million, respectively. Adjusted EBITDA was calculated as income before tax, plus interest, plus depreciation and amortization, plus non-recurring items that will not continue after the acquisition.

"Their expertise in the water and wastewater markets will complement DXP's breadth of technical products and services. This transaction will not only allow us to continue with our existing marketing strategies, but gives us additional products, services and resources to better serve our customers," added David Little.

Kent Yee, CFO, stated, "We continue to execute on our strategic priorities and strategy of making acquisitions in markets and business models where we can continue to enhance DXP. Drydon and Burlingame complement our recent focus on water and wastewater acquisitions and provide us with platforms in their respective markets to effectively serve the water and wastewater customer needs. We look forward to scaling the businesses and further diversifying DXP. The acquisitions will expand our market share in the water and wastewater markets, the Illinois, Wisconsin and California markets and our leading rotating equipment product division. We anticipate these acquisitions to be accretive to earnings and will provide us with a strong platform going forward."

About DXP Enterprises, Inc.

DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.

The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission.

Kent Yee
Senior Vice President CFO
713-996-4700 – www.dxpe.com

Procures Additional 1.5GW of First Solar’s Modules for Advanced-Stage Pipeline

REDWOOD CITY, Calif.--(BUSINESS WIRE)--SB Energy Global LLC (“SB Energy”), a subsidiary of SoftBank Group Corp., announced today that it has placed a multi-year order for 1.5 gigawatts (GW) of First Solar’s advanced, ultra-low carbon thin-film photovoltaic (PV) solar modules. SB Energy will deploy these modules across its 4GW solar and storage development pipeline in the U.S. This order follows SB Energy’s original procurement of 1.7GW of First Solar modules for five utility-scale projects in Texas and California, which began construction in 2020, expanding SB Energy and First Solar’s partnership to a cumulative 3.2GW of U.S. solar projects.

SB Energy’s team has reached commercial operations on 1.3GW across projects in Texas and California in the last six months, bringing enough reliable, clean energy online to power over a quarter million homes, and supported over 10,000 jobs, including 3,000 direct jobs during construction. The remaining 0.4GW of projects from the original 1.7GW procurement are expected to reach commercial operations in the first half of 2022.

Abhijeet Sathe, co-CEO of SB Energy, said, “Providing flexible, renewable energy at scale is central to SB Energy’s mission to accelerate the clean energy transition. First Solar’s partnership and the incredible work of our team enabled us to bring 1.3GW of new solar projects to commercial operations in 2021, making us the second largest in terms of new solar capacity added to the grid. We’re excited to expand our partnership with First Solar as we enter our next phase of growth and continue to develop cutting-edge climate infrastructure and technology solutions.”

“At First Solar, we value long-term relationships based not simply on our ability to deliver a competitive, high-quality product that is a hedge against pricing and supply volatility but on trust and a shared vision,” said Georges Antoun, chief commercial officer, First Solar. “We thank SB Energy for its trust in our technology and for investing in responsibly-produced American solar as they grow their platform in support of our country’s march towards a sustainable energy future.”

All 1.5GW of the modules in the order announced today will be produced in First Solar’s Ohio manufacturing plant and support SB Energy’s plans to achieve 10GW of renewable energy and storage projects in operation or under construction by the end of 2025.

Designed and developed at its research and development centers in California and Ohio, First Solar’s responsibly produced advanced thin-film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. First Solar also operates an advanced recycling program that recovers more than 90% of CadTel semiconductor material for use in new modules.

Last year, First Solar announced that it will invest $680 million to expand America’s domestic PV solar manufacturing capacity by 3.3GW annually by building its third U.S. manufacturing facility in Lake Township, Ohio. The new facility is expected to be commissioned in the first half of 2023 and, when fully operational, will scale the company’s Northwest Ohio footprint to a total annual capacity of 6GW, which is believed to make it the largest fully vertically integrated solar manufacturing complex outside of China.

About SB Energy

SB Energy, a subsidiary of SoftBank Group Corp., is a leading utility scale solar, energy storage, and technology platform. We develop, construct, and own and operate some of the largest and most technically advanced renewable projects across the United States. SB Energy’s mission is to provide flexible renewable energy at scale, accelerating the global energy transition, and benefiting our planet, customers, communities, and people. For more information, visit SBEnergy.com.

About First Solar, Inc.

First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. Developed at R&D labs in California and Ohio, the company’s advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. From raw material sourcing and manufacturing through end-of-life module recycling, First Solar’s approach to technology embodies sustainability and a responsibility towards people and the planet. For more information, please visit www.firstsolar.com.

Media

For SB Energy:
Sard Verbinnen & Co
Hannah Dunning / Benjamin Spicehandler
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For First Solar:
Reuven Proença
First Solar Media
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For First Solar Investors
Mitch Ennis
First Solar Investor Relations
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Deirdra Redmond
First Solar Investor Relations
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BOSTON--(BUSINESS WIRE)--#DigitalTransformation--Schneider Electric, the global leader in the digital transformation of energy management and automation, will host U.S. Secretary of Energy Jennifer Granholm and the Governor of Kentucky Andy Beshear for a tour of its Lexington, Kentucky smart factory on Wednesday, March 2, 2022.

Secretary Granholm and Governor Beshear will be shown the 500,000 square foot facility that employs 620 people and will be briefed on its state-of the-art technology that is saving 26 percent of the energy it once used and reducing carbon emissions by 78 percent through digital modernization upgrades. Schneider Electric executives will also brief the Secretary and Governor on the company’s recent efforts to onshore manufacturing to address supply chain challenges.

Following the tour of the plant, Secretary Granholm, Governor Beshear and Schneider Electric executives will then join a roundtable discussion with business leaders who will highlight the impacts of clean energy investments in key communities across the U.S. and developing a more competitive, digital workforce of the future for a growing global clean energy economy.

Notice: Schneider Electric’s safety policy must be observed. Pants/pantsuits and closed-toe shoes are required (skirts and dresses will not be allowed).

Schneider Electric’s Lexington, KY manufacturing plant was constructed in 1958 and through recent digital innovations has earned the distinction by the World Economic Forum as an Advanced Lighthouse Factory for its sustainability, productivity, agility, customization and speed-to-market capabilities. It was also recognized by the World Economic Forum as a Sustainability Lighthouse—one of only three worldwide--for its outstanding efficiency and sustainability.

About Schneider Electric

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

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

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

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

www.se.com

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

Hashtags: #LifeIsOn #Sustainability #energytransformation #decarbonization #climateaction #NetZero #Electricity40 #SupplyChain #EcoStruxure #IndustrialAutomation #DigitalTransformation #IoT

Schneider Electric Media Relations – Venancio Figueroa III; 469-346-8040; This email address is being protected from spambots. You need JavaScript enabled to view it.
Lot Sixteen for Schneider Electric – Ryan Nickel, 202-340-6501; This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), announced the filing of its annual report on Form 10-K for the fiscal year ended December 31, 2021 with the Securities and Exchange Commission on March 1, 2022. A copy of the annual report is available on Hess Midstream’s website, www.hessmidstream.com, by selecting “Investors” and then “SEC Filings.”

Shareholders may request printed copies of our annual report on Form 10-K, which includes Hess Midstream’s complete audited financial statements, free of charge by emailing Investor Relations at: This email address is being protected from spambots. You need JavaScript enabled to view it..

About Hess Midstream

Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess Corporation and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.

Investor Contact:
Jennifer Gordon
(212) 536-8244

Media Contact:
(713) 496-6076
Robert Young

BOSTON--(BUSINESS WIRE)--XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leading provider of fleet electrification solutions, today announced fourth quarter and full-year 2021 financial results.

Fourth Quarter, Full-Year 2021 and Recent Highlights

• Generated revenue for fourth quarter of 2021 of $8.0 million, compared to $10.9 million in the prior year
• Realized gross loss for the fourth quarter of 2021 of $1.6 million, compared to gross profit of $2.0 million in the prior year
• Exited fourth quarter of 2021 with cash and cash equivalents of approximately $352 million
• Appointed automotive and mobility sector veteran Eric Tech as new CEO of XL Fleet, effective December 1, 2021
• Appointed Chris Goldner as Interim CFO, effective February 1, 2022, following departure of Cielo Hernandez
• Announced pilot program award with Department of Defense to prototype fuel-savings technology for tactical vehicles
• Received CARB executive order approval to sell electric refuse vehicles co-developed with Curbtender, Inc.
• Initiated Strategic Review, focused on narrowing business offering to most profitable business areas and opportunities

Management Commentary & Outlook

“XL Fleet continued to diversify its solutions portfolio in 2021, most notably with the May acquisition of World Energy Efficiency Services, which helped to offset demand and supply chain issues continuing to face the drivetrain business,” said Eric Tech, CEO of XL Fleet. “World Energy generated $7.7 million of revenue for the fourth quarter of 2021 and over $20 million for the full-year 2021, which was ahead of the forecast set at the time of the acquisition. We exited the year with $352 million in cash on the balance sheet, positioning us offensively and defensively in the road ahead.”

“Since joining XL Fleet, I have taken a comprehensive review of all aspects of our business to assess the offerings, strategy, and growth opportunities,” added Mr. Tech. “While our Strategic Review remains ongoing, I have identified several near-term opportunities and actions that align our talent, technology and resources, while best positioning XL Fleet over the long-term.”

“First, we will focus on organizing our leadership and talent in a way that maximizes synergies across our business,” continued Mr. Tech. “Second, we will narrow focus of our hybrid offering to platforms and applications that are most scalable and provide the most substantial return on investment. And third, we will continue to preserve our strong cash position, with an intent on identifying transformational M&A that enhances shareholder value while setting the state for long-term growth resulting from the global needs for decarbonization. I am invigorated by the work that remains ahead, and stand confident in XL Fleet’s ability to leverage its platform, experience and resources to help drive decarbonization for the benefit of all.”

Fourth Quarter 2021 Financial Results

Revenue totaled $8.0 million in the fourth quarter of 2021 compared to $3.2 million in the third quarter of 2021 and $10.9 million in the fourth quarter of 2020. Revenue from the sale of drive systems in the fourth quarter of 2021 totaled $0.3 million compared with $0.6 million in the third quarter of 2021, and $10.9 million in the fourth quarter of 2020, due to negative impacts from ongoing supply chain issues including microchip shortages that have led to a lack of new fleet chassis. Revenue from XL Grid in the fourth quarter of 2021 totaled $7.7 million, compared to $2.6 million in the third quarter of 2021 and $6.4 million in the fourth quarter of 2020 on a pro forma basis. The increase from the third quarter of 2021 was due to the seasonality of the business driven by sales cycles and other dynamics in the business.

Gross loss was $1.6 million for the fourth quarter of 2021, compared to a gross profit of $0.7 million in the third quarter of 2021 and gross profit of $2.0 million in the fourth quarter of 2020. Gross margins for the fourth quarter of 2021 were negative (20%), compared to gross margins for the third quarter of 2021 of positive 22%. The decrease in gross margins was primarily driven by increased inventory reserves. Adjusted EBITDA was ($14.6) million for the fourth quarter of 2021, compared to ($14.2) million for the third quarter of 2021 and ($1.8) million in the fourth quarter of 2020.

Net loss was ($15.1) million for the fourth quarter of 2021, compared to net loss of ($7.5) million in the third quarter of 2021 and ($38.4) million in the fourth quarter of 2020. Net loss for the fourth quarter of 2021 includes a non-cash gain from the change in fair value of warrant liability of $8.2 million, compared to a non-cash loss of ($35.0) million in the fourth quarter of 2020. Adjusted net loss was $15.3 million for the fourth quarter of 2021, compared to adjusted net loss of ($14.7) million in the third quarter of 2021. A reconciliation of EBITDA to adjusted EBITDA and net loss to adjusted net loss is set out in the tables below.

Full-Year 2021 Financial Results

Revenue totaled $15.6 million for full-year 2021, compared to $20.3 million for full-year 2020. Gross loss totaled ($0.7) million for full-year 2021, compared to a gross profit of $2.7 million for the full-year 2020. Adjusted EBITDA for full-year 2021 totaled ($50.0) million, compared to ($14.7) million for the full-year 2020.

Balance Sheet and Capital

Cash and cash equivalents as of December 31, 2021 totaled $351.7 million compared to $329.6 million as of December 31, 2020. Total debt outstanding as of December 31, 2021 was approximately $0.1 million. XL Fleet has approximately 140.5 million shares of Common Stock outstanding as of December 31, 2021.

Fourth Quarter 2021 and Recent Operational & Business Updates

• In February 2022, XL Fleet announced that it appointed Chris Goldner to serve as Interim Chief Financial Officer, effective February 1, 2022, following the resignation of Cielo Hernandez from her position as Chief Financial Officer. The Company is undertaking a search for a permanent successor.

• In December 2021, XL Fleet received an Executive Order from the California Air Resources Board (“CARB”) for the sale of its battery electric Ford F-600 platform for the zero emission refuse vehicle being co-developed with Curbtender, Inc. The development of the battery electric Curbtender Quantum is expected to be completed for production before the end of 2022, and will be XL Fleet’s first all-electric, zero emission vehicle platform.

• In December 2021, XL Fleet announced the installation of charging infrastructure to power Apex Clean Energy’s electrified vehicle deployments. Apex Clean Energy, a leading clean energy company, electrified its work truck fleet with XL Fleet plug-in hybrid and hybrid systems on its F-Series pickup trucks earlier in 2021.

• In November 2021, XL Fleet announced that it was awarded a pilot project with Department of Defense to prototype fuel-saving technology for tactical vehicles. The Department of Defense pilot program is part of a future contract opportunity to leverage the hybrid conversion technology for tens of thousands of vehicles in a variety of U.S. military applications.

• In November 2021, XL Fleet announced that its Board of Directors appointed Eric Tech as Chief Executive Officer of XL Fleet, effective December 1, 2021, following the resignation of Dimitri Kazarinoff from his position as Chief Executive Officer to pursue other career opportunities.

Conference Call Information

The XL Fleet management team will host a conference call to discuss its fourth quarter 2021 financial results today at 5:00 p.m. Eastern Time. The call can be accessed live over the telephone by dialing 877-407-3982, or for international callers, 201-493-6780 and referencing XL Fleet. Alternatively, the call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of the Company’s website at www.xlfleet.com. A replay will be available shortly after the call and can be accessed by dialing 844-512-2921, or for international callers, 412-317-6671. The passcode for the replay is 13726640. The replay will be available until March 15, 2022. An archive of the webcast will be available for a period of time shortly after the call on the Investor Relations section of The Company’s website at www.xlfleet.com.

About XL Fleet

XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 180 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can significantly increase fuel economy and reduce carbon dioxide emissions, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. For additional information, please visit www.xlfleet.com.

Forward Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to; the effects of pending and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones, including the ongoing global microchip shortage and limited availability of chassis from vehicle OEMs and our reliance on our suppliers; the effects of competition on the Company’s future business; the availability of capital; changes in the preliminary financial results for the quarter ended September 30, 2021 upon completion of the Company’s financial closing procedures or upon review and completion of procedures by the Company’s independent registered public accounting firm, and the other risks discussed under the heading “Risk Factors” in the Company’s current report on Form 10-K filed on March 1, 2022, and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.

Use of Non-GAAP Financial Information

To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles (“GAAP”), XL Fleet Corp. reports EBITDA, Adjusted EBITDA, and Adjusted Net Income (Loss) which are non-GAAP financial measures. EBITDA is determined by taking net income and adding interest, depreciation and amortization. Adjusted EBITDA is determined by taking EBITDA and adding change in fair value of obligation to issue shares of common stock to sellers of World Energy, non-recurring World Energy acquisition expenses and accreted contingent compensation obligation to sellers of World Energy, change in fair value of warrant liability, change in fair value of convertible notes payable derivative liabilities and loss on extinguishment of debt. Adjusted Net Income (Loss) is determined by taking Net Income (Loss) and adding change in fair value of obligation to issue shares of common stock to sellers of World Energy, non-recurring World Energy acquisition expenses, accreted contingent compensation obligation to sellers of World Energy, change in fair value of warrant liability, and change in fair value of convertible notes payable derivative liabilities and loss on extinguishment of debt. This prospective financial information was not prepared with a view toward compliance with published guidelines of the SEC or the guidelines established by the American Institute of Certified Public Accountants for preparation and presentation of prospective financial information or U.S. GAAP with respect to forward looking financial information. We believe that these non-GAAP measures, viewed in addition to and not in lieu of our reported GAAP results, provides useful information to investors by providing a more focused measure of operating results, enhances the overall understanding of past financial performance and future prospects, and allows for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. EBITDA, Adjusted EBITDA and Adjusted Net Income (Loss) have been reconciled to the nearest GAAP measures in the tables within these this press release.

(1) Amount consists of severance charges incurred with the departure of the former CEO of $4,866, sign on bonus of new CEO of $250k and a charge of $418 related to the reimbursement of retirement benefits that the new CEO would have received had he remained retired.

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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today issued the following statement regarding the situation in Ukraine.

ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation. We deplore Russia’s military action that violates the territorial integrity of Ukraine and endangers its people.

We are deeply saddened by the loss of innocent lives and support the strong international response. We are fully complying with all sanctions.

ExxonMobil operates the Sakhalin-1 project on behalf of an international consortium of Japanese, Indian and Russian companies. In response to recent events, we are beginning the process to discontinue operations and developing steps to exit the Sakhalin-1 venture.

As operator of Sakhalin-1, we have an obligation to ensure the safety of people, protection of the environment and integrity of operations. Our role as operator goes beyond an equity investment. The process to discontinue operations will need to be carefully managed and closely coordinated with the co-venturers in order to ensure it is executed safely.

Given the current situation, ExxonMobil will not invest in new developments in Russia.

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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DENVER--(BUSINESS WIRE)--Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”), a Colorado energy leader and the state’s first carbon neutral oil & gas producer, today announced that it has closed its previously announced acquisition of privately held Denver-Julesburg Basin (“DJ Basin”) operator Bison Oil & Gas II, LLC (“Bison”). Consideration for the Bison acquisition was modified to reflect an all-cash transaction (no Civitas shares issued), with a total cash outlay by the Company of approximately $300 million, which was funded with cash on hand. The transaction demonstrates Civitas’ disciplined approach to consolidation with a focus on value creation and accretion.

Transaction Highlights

• Strengthens Civitas’ portfolio by adding 102 gross high-quality rural locations, of which 38 are already fully permitted

• Attractive valuation with total consideration at a discount to PDP PV-12 and below 1.6x 2022E EBITDA⁽¹⁾

• Enhances Civitas margins with pro forma 2022E production increase of approximately 9,000 Boed composed of 75% oil and 90% liquids, without incremental G&A expense

• Accretive to Civitas’ Net Asset Value, 2022E production, EBITDA and Free Cash Flow

• Preserves Civitas’ fortress balance sheet, with pro forma net leverage of 0.2x

• Civitas will integrate the Bison properties under its net zero policy, further reducing basin emissions

(1) Based on strip pricing as of February 25^th, 2022

Ben Dell, Civitas’ Chairman and interim CEO, commented: “Civitas continues to demonstrate its commitment to delivering unprecedented value to all of its stakeholders. We firmly believe that the Company is well positioned to continue successfully executing its business plan, with a clear objective of identifying and executing on the highest value-accretive consolidation opportunities.”

Petrie Partners, LLC and RBC Capital Markets, LLC served as financial advisors and Kirkland & Ellis LLP served as legal advisor to Civitas. CIBC Capital Markets served as financial advisor and Bracewell LLP served as legal advisor to Bison.

About Civitas Resources, Inc.

Civitas Resources, Inc. is Colorado’s first carbon neutral oil & gas producer and is focused on developing and producing crude oil, natural gas and natural gas liquids in Colorado’s Denver-Julesburg Basin. The Company is committed to pursuing compelling economic returns and cash flow while delivering best-in-class cost leadership and capital efficiency. Civitas is dedicated to safety, environmental responsibility, and implementing industry leading practices to create a positive local impact. For more information about Civitas, please visit www.civitasresources.com.

Forward-Looking Statements and Cautionary Statements

Certain statements in this press release concerning the credit facility, the results, effects, benefits and synergies of the acquisition of Bison, future opportunities for Civitas, future financial performance and condition, guidance and any other statements regarding Civitas’ future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts are “forward-looking” statements based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words “anticipate,” “believe,” “ensure,” “expect,” “if,” “intend,” “estimate,” “probable,” “project,” “forecasts,” “predict,” “outlook,” “aim,” “will,” “could,” “should,” “would,” “potential,” “may,” “might,” “anticipate,” “likely” “plan,” “positioned,” “strategy,” and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements include statements regarding Civitas’ plans and expectations with respect to the merger with Extraction Oil & Gas, Inc., (“Extraction”) and the acquisition of CPPIB Crestone Peak Resources America Inc. (“Crestone Peak”) (the “Transactions”) and the anticipated impact of the Transactions on Civitas’ results of operations, financial position, growth opportunities and competitive position. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995.

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the acquisition of Bison; the diversion of management time on Transaction-related issues; the ultimate timing, outcome and results of integrating the legacy operations of Civitas; changes in capital markets and the ability of Civitas to finance operations in the manner expected; the effects of commodity prices; the risks of oil and gas activities; and the fact that operating costs and business disruption may be greater than expected following the public announcement or consummation of the Transactions. Additionally, risks and uncertainties that could cause actual results to differ materially from those anticipated also include general economic conditions, whether internationally, nationally or in the regional and local market areas in which we do business; the effects of disruption of our operations or excess supply of oil and natural gas due to the COVID-19 pandemic and the actions by certain oil and natural gas producing countries; the scope, duration and severity of the COVID-19 pandemic, including any recurrence, as well as the timing of the economic recovery following the pandemic; ability of our customers to meet their obligations to us; our ability to generate sufficient cash flow from operations, borrowings, or other sources to enable us to fully develop our undeveloped acreage positions; the presence or recoverability of estimated oil and natural gas reserves and the actual future sales volume rates and associated costs; uncertainties associated with estimates of proved oil and gas reserves; the assumptions underlying forecasts, including forecasts of production, well costs, capital expenditures, rates of return, expenses, cash flow and cash flow from purchases and sales of oil and gas; the possibility that the industry may be subject to future local, state, and federal regulatory or legislative actions (including additional taxes and changes in environmental regulation); environmental risks; seasonal weather conditions; drilling and operating risks, including the risks associated with the employment of horizontal drilling and completion techniques; our ability to acquire adequate supplies of water for drilling and completion operations; availability of oilfield equipment, services, and personnel; exploration and development risks; competition in the oil and natural gas industry; our ability to secure adequate processing capacity for natural gas we produce, to secure adequate transportation for oil, natural gas, and natural gas liquids we produce, and to sell the oil, natural gas, and natural gas liquids at market prices; continued hostilities in the Middle East, South America, and other sustained military campaigns or acts of terrorism or sabotage; and other economic, competitive, governmental, legislative, regulatory, geopolitical, and technological factors that may negatively impact our businesses, operations, or pricing. Expectations regarding business outlook, including changes in revenue, pricing, capital expenditures, cash flow generation, strategies for our operations, oil and natural gas market conditions, legal, economic and regulatory conditions, and environmental matters are only forecasts regarding these matters.

Additional information concerning other risk factors is also contained in Civitas’ most recently filed Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other Securities and Exchange Commission (“SEC”) filings. Additional information concerning Civitas, Extraction and Crestone Peak, the Transactions, and risks relating to the Transactions can be found in the registration statement on Form S-4 filed by Bonanza Creek, Registration No. 333-257882, which was declared effective by the SEC on September 28, 2021. Civitas undertakes no duty to publicly update these statements except as required by law.

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• Hydrogen would fuel olefins plant, reduce integrated site emissions by up to 30%
• Carbon capture project would be one of world’s largest; double company’s industry-leading capacity
• Hydrogen and carbon capture capacity to help industry reduce emissions

IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said today it is planning a hydrogen production plant and one of the world’s largest carbon capture and storage projects at its integrated refining and petrochemical site at Baytown, Texas, supporting efforts to reduce emissions from company operations and local industry.

“Hydrogen has the potential to significantly reduce CO₂ emissions in vital sectors of the economy and create valuable, lower-emissions products that support modern life,” said Joe Blommaert, president of ExxonMobil Low Carbon Solutions. “By helping to activate new markets for hydrogen and carbon capture and storage, this project can play an important part in achieving America’s lower-emissions aspirations.”

The proposed hydrogen facility would produce up to 1 billion cubic feet per day of “blue” hydrogen, which is an industry term for hydrogen produced from natural gas and supported by carbon capture and storage. The carbon capture infrastructure for this project would have the capacity to transport and store up to 10 million metric tons of CO₂ per year, more than doubling ExxonMobil’s current capacity.

Using hydrogen as a fuel at the Baytown olefins plant could reduce the integrated complex’s Scope 1 and 2 CO₂ emissions by up to 30%, supporting ExxonMobil’s ambition to achieve net zero greenhouse gas emissions from its operated assets by 2050. It also would enable the site to manufacture lower-emissions products for its customers. Access to surplus hydrogen and CO₂ storage capacity would be made available to nearby industry.

The project would form ExxonMobil’s initial contribution to a broad, cross-industry effort to establish a Houston carbon capture and storage hub with an initial target of about 50 million metric tons of CO₂ per year by 2030, and 100 million metric tons by 2040. Evaluation and planning for the Baytown project are ongoing and, subject to stakeholder support, regulatory permitting and market conditions, a final investment decision is expected in two to three years.

ExxonMobil has extensive experience with hydrogen and already produces about 1.5 billion cubic feet per day. The company is uniquely positioned to participate in the growing hydrogen market and is evaluating strategic investments to increase the use of this important lower-emissions energy technology.

Equally important is the company’s more than 30 years of experience capturing and permanently storing CO₂. ExxonMobil has cumulatively captured more human-made CO₂ than any other company and has an equity share of about one-fifth of the world’s carbon capture and storage capacity, which amounts to about 9 million metric tons per year.

ExxonMobil Low Carbon Solutions business was established to commercialize low-emission technologies and is focusing on carbon capture and storage, hydrogen and biofuels – technologies where the company can leverage its core competencies and competitive advantages. Over the next six years, the company plans to invest more than $15 billion on lower-emission initiatives and could increase investments with advancements in policy and technology.

Sound government policies will accelerate the deployment of key technologies at the pace and scale required to support a societal net-zero future. Predictable, stable, cost-effective policies are necessary to incentivize the development and scalability of a wide range of low-emission technologies, including hydrogen and carbon capture and storage. ExxonMobil continues to support an explicit price on carbon to establish consistent incentives and encourage investments.

ExxonMobil is committed to helping society reduce overall greenhouse gas emissions by decreasing the company’s emissions intensity and developing and deploying emission-reducing technologies and products. Increasing the supply of products with lower life cycle greenhouse gas emissions enables the transition from higher-emissions alternatives.

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, the Energy Factor and Carbon capture and storage | ExxonMobil.

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Cautionary Statement: Statements of future events, investment opportunities or conditions in this release are forward-looking statements. Actual future results, including project plans, timing, capacities, and costs could vary depending on the ability to execute operational objectives on a timely and successful basis; the ability to scale projects and technologies on a commercially competitive basis; implementation and outcomes of carbon capture and storage projects; timely completion of construction projects; the outcome of future research and technology development programs, including the future success of collaborative efforts; the development and pace of supportive market conditions and policies including support for carbon capture and storage and hydrogen; changes in laws and regulations including environmental laws and taxes; changes in plans or objectives prior to final funding decisions or project startups; unforeseen technical or operational difficulties; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.

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• Company announces repayment of remaining $500 million of term loan
• Provides updated guidance for first quarter and full year production and cash costs; reaffirms fourth quarter production guidance

NEW YORK--(BUSINESS WIRE)--The Board of Directors of Hess Corporation (NYSE: HES) today declared a regular quarterly dividend of 37.5 cents per share payable on Hess Corporation Common Stock, an increase of 50% from the previously paid quarterly dividend of 25 cents per share. The dividend is payable on March 30, 2022 to stockholders of record as of the close of business on March 14, 2022. The company also announced that it had repaid the remaining $500 million of a $1 billion term loan maturing in March 2023.

“The recently announced startup of the Liza Phase 2 oil development offshore Guyana has positioned the company to reduce debt and begin increasing cash returns to shareholders,” CEO John Hess said. “As our portfolio becomes increasingly free cash flow positive, we plan to continue to grow the dividend and accelerate share repurchases.”

The company provided an update on its first quarter and full year guidance for production and cash costs and reaffirmed its fourth quarter 2022 production guidance. For the first quarter, Bakken net production is now expected to average approximately 150,000 barrels of oil equivalent per day, compared with the previous guidance range of 155,000 to 160,000 barrels of oil equivalent per day, primarily due to severe winter weather and higher natural gas liquids prices that will increase the company’s earnings and cash flow but lower production entitlements under the company’s Percentage of Proceeds contracts. Bakken net production for full year 2022 is now expected to be in the range of 160,000 to 165,000 barrels of oil equivalent per day, compared with the previous guidance range of 165,000 to 170,000 barrels of oil equivalent per day. The company reaffirmed its previous Bakken net production guidance range for the fourth quarter of 175,000 to 180,000 barrels of oil equivalent per day.

Companywide net production for the first quarter is now expected to be in the range of 270,000 to 275,000 barrels of oil equivalent per day excluding Libya, compared with the previous guidance range of 275,000 to 285,000 barrels of oil equivalent per day, due to lower Bakken production. Companywide net production for the full year is now expected to be in the range of 325,000 to 330,000 barrels of oil equivalent per day, excluding Libya, compared with the previous guidance range of 330,000 to 340,000 barrels of oil equivalent per day, due to lower Bakken production and a delay in the startup of a third party operated tieback well at the Llano Field in the Gulf of Mexico. The company reaffirmed its previous companywide net production guidance range for the fourth quarter of 360,000 to 370,000 barrels of oil equivalent per day, excluding Libya.

Cash costs for the first quarter, excluding Libya, are now expected to be in the range of $15.00 to $15.50 per barrel of oil equivalent, compared with the previous guidance range of $13.50 to $14.00 per barrel of oil equivalent, primarily due to lower production volumes as well as increased production taxes resulting from higher oil prices. Cash costs for full year 2022, excluding Libya, are now expected to be in the range of $12.50 to $13.00 per barrel of oil equivalent, compared with the previous guidance range of $11.50 to $12.50 per barrel of oil equivalent.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at http://www.hess.com.

Cautionary Statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation: our future financial and operational results; our business strategy; estimates of our crude oil and natural gas reserves and levels of production; benchmark prices of crude oil, natural gas liquids and natural gas and our associated realized price differentials; our projected budget and capital and exploratory expenditures; expected timing and completion of our development projects; and future economic and market conditions in the oil and gas industry.

Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: fluctuations in market prices of crude oil, natural gas liquids and natural gas and competition in the oil and gas exploration and production industry, including as a result of COVID-19; reduced demand for our products, including due to COVID-19, perceptions regarding the oil and gas industry, competing or alternative energy products and political conditions and events; potential failures or delays in increasing oil and gas reserves, including as a result of unsuccessful exploration activity, drilling risks and unforeseen reservoir conditions, and in achieving expected production levels; changes in tax, property, contract and other laws, regulations and governmental actions applicable to our business, including legislative and regulatory initiatives regarding environmental concerns, such as measures to limit greenhouse gas emissions and flaring, fracking bans as well as restrictions on oil and gas leases; operational changes and expenditures due to climate change and sustainability related initiatives; disruption or interruption of our operations due to catastrophic events, such as accidents, severe weather, geological events, shortages of skilled labor, cyber-attacks, health measures related to COVID-19, or climate change; the ability of our contractual counterparties to satisfy their obligations to us, including the operation of joint ventures under which we may not control and exposure to decommissioning liabilities for divested assets in the event the current or future owners are unable to perform; unexpected changes in technical requirements for constructing, modifying or operating exploration and production facilities and/or the inability to timely obtain or maintain necessary permits; availability and costs of employees and other personnel, drilling rigs, equipment, supplies and other required services; any limitations on our access to capital or increase in our cost of capital, including as a result of limitations on investment in oil and gas activities or negative outcomes within commodity and financial markets; liability resulting from environmental obligations and litigation, including heightened risks associated with being a general partner of Hess Midstream LP; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission.

As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

For Hess Corporation
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－Prices to increase by 20% or more from April 1 estimates－

TOKYO--(BUSINESS WIRE)--Kaneka Corporation (Headquarters: Minato-ku, Tokyo; President: Minoru Tanaka)(TOKYO:4118) will raise the sales price of photovoltaic products by 20% or more for estimates issued from April 1st and onward. This will apply to all residential and non-residential photovoltaic products.

The price of silicon wafers, the main material used in the photovoltaic manufacturing, has risen dramatically due to the global silicon shortage. The prices of other materials such as high transparency glass escalated in addition to logistics costs which placed severe pressure on its business revenue.

Kaneka, to accelerate the adoption of clean energy to society, avoided price increase by focusing on cost reduction. However, the measures reached the limit and thus Kaneka could not help but to make price revision to steadily provide photovoltaic products to the market.

KANEKA CORPORATION
Investor & Public Relations Department
Chika Harada
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Facility accelerates the production of next generation specialty chemical solutions and supports in-Kingdom innovation

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today celebrated the opening of the Halliburton Chemical Reaction Plant – the first of its kind in Saudi Arabia to manufacture a broad range of chemicals for the entire oil and gas value chain as well as many other industries. The facility expands Halliburton’s manufacturing footprint in the Eastern Hemisphere and strengthens and accelerates its ability to serve the chemical needs of Middle East customers.

“We are excited to complete this significant investment and to deliver our chemical applications expertise to our Eastern Hemisphere customers,” said Jeff Miller, chairman, president, and CEO. “This world-class plant is part of our more than $1 billion commitment to Saudi Arabia over the past ten years. It further increases our in-country presence and supports the In Kingdom Total Value Add program by providing new opportunities to local suppliers, vendors, other manufacturing partners, and the local workforce.”

In addition to manufacturing, the facility allows Halliburton to expand its specialty chemicals research and applications for oilfield stimulation and production. Also, Halliburton now can better serve the region’s industrial water and process treatment markets, including refineries, petrochemical plants, and other heavy industrial operations.

“The new downstream industries envisioned for PlasChem Park are vital for the future of the Kingdom’s chemicals and petrochemicals industry. The inauguration of the Halliburton Chemical Reaction Plant, along with the upcoming projects, will help realize the Kingdom’s Downstream Initiative, combining global expertise with the special chemicals that Sadara produces, for the benefit of local, regional and global markets,” said Sadara Chemical CEO Dr. Faisal Al-Faqeer.

The facility opens contract manufacturing and tolling opportunities to support Saudi agriculture, mining, personal care and other industries. Located at the PlasChem Park in Jubail, the plant advances Halliburton’s growing presence and commitment to provide enhanced research and development and technical solutions to the local market.

PHOTO CAPTION: Halliburton formally opens its chemical reaction plant with a ribbon cutting including: Saudi Aramco Vice President of Unconventional Resources, Khalid Al-Abdulqader; Saudi Aramco Vice President of Procurement and Supply Chain Management, Mohammad Al Shammary; Royal Commission CEO, Dr. Ahmed Al-Hussain; Halliburton Chairman, President and CEO, Jeff Miller; Saudi Aramco Senior Vice President of Upstream, Nasir Al-Naimi; Sadara Chemical Company CEO, Dr. Faisal Al-Faqeer; Saudi Aramco Executive Director of Petroleum Engineering & Development, Waleed Al-Mulhim; Saudi Aramco Vice President of Drilling & Workover AbdulHameed Al-Rushaid.

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the Company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

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Proceeds from Tranche 1 Financing of $20 million and a concurrent $250 million (project development equity financing) facility to be allocated to direct investments into Andion’s pipeline of projects will rapidly accelerate development of Andion’s operations in North America and Europe

VANCOUVER, British Columbia--(BUSINESS WIRE)--ANDION Global Inc.(“Andion”), a global leader in delivering proven and comprehensive waste-to-energy solutions, announced today the company has secured a $20 Million multi-partner financing from three investment partners: a private fund managed by Spring Lane Capital, a private equity firm focused on providing catalytic project capital for sustainability solutions in the energy, food, water, waste and transportation industries; Equitix Infrastructure Investments Limited (“Equitix”); and Business Development Bank of Canada (“BDC”). This new capital will be used initially to expand Andion’s operations and to acquire equity stakes in existing projects, and to accelerate the development of Andion’s projects located in North America, Italy and the Nordics.

The $250 million project development equity facility will be allocated concurrently by Spring Lane Capital and Equitix, and used to finance the development, construction and acquisition of projects in Andion’s North American and European markets.

“We are very excited to have closed the first tranche of this financing with a distinguished group of strategic investors which will allow us to rapidly propel the development, deployment and operation of our own waste-to-energy facilities,” said Phillip Abrary, CEO of Andion. “The proven proprietary technologies used in Andion’s anaerobic digestion plants have the additional benefit of countering climate change by transforming waste into a renewable fuel.”

“Renewable natural gas (RNG) solutions are increasingly playing a key role in helping corporations and municipalities meet their carbon targets. We are excited to partner with Andion as this long-term secular trend presents a tremendous opportunity for institutional investors in the global sustainable finance markets,” said Nathaniel Lowbeer-Lewis, Vice President, Canada for Spring Lane Capital. “We have witnessed first-hand more and more interest from investors in waste diversion solutions and we are very impressed with Andion’s pedigree in the RNG space. With over 20 years of experience, their team brings deep technical competency that is unmatched in the sector, and we expect our collaboration to serve as a platform to foster additional organics and RNG investment opportunities.”

“We are very pleased to partner with Andion as an investor, as well as entering into a framework agreement to invest in future projects developed by the Andion Group in Europe,” said Hugh Crossley, CEO of Equitix. "This investment is fully in line with Equitix’s core strategy of making long-term investments into infrastructure with positive environmental characteristics. Our goal is to support Andion's continuing development and focus on strengthening the company's position as a responsible supplier of renewable energy to the market.”

“As the bank for Canadian entrepreneurs, we are pleased to support Andion’s innovative solutions and projects to divert waste from landfills to create value, which is an important part of our energy transition needs and will help Canada reach its climate targets,” said Vivian Kan, Director of BDC Capital’s Cleantech Practice.

Andion’s technology makes organic waste handling and conversion to biogas efficient, sustainable and economically viable. The company has successfully delivered more than 50 complete anaerobic digestion facilities as well as over 130 complex wastewater treatment plants throughout North America and Europe. This new capital provided by Spring Lane Capital, Equitix and BDC will allow the company to expand operations and acquire equity stakes in these projects.

Andion’s waste-to-energy facilities provide environmental and socio-economic benefits for cities facing waste challenges in North America and Europe. Current methods for managing organic waste include: sending waste to landfills; waste-to-energy recovery through incineration; composting; and anaerobic digestion. Sending waste to landfills contributes to the production of methane while managing waste through anaerobic digestion is carbon-negative. Anaerobic digestion reduces greenhouse gas emissions, eliminates odours, does not require a large footprint, and as well, supports the circular economy as the waste is recycled into biogas, compost and fertilizer.

Andion’s facilities have the ability to process hundreds of thousands of tons of a variety of organic waste, reducing greenhouse gases from transportation, landfills and burning of waste. This process creates renewable energy (biogas), a sustainable source of fuel for communities around the world.

Desjardins Capital Markets acted as exclusive financial advisor to Andion in this Tranche 1 Financing of $20 million and an additional project equity facility of $250 million.

ABOUT ANDION GLOBAL

Andion Global Inc. specializes in the development, deployment and operation of renewable energy facilities. The company is based in Vancouver B.C., with operations in Milan and Stockholm. Andion has a portfolio of technologies and proven processes for converting complex and variable organic wastes to renewable energy, having successfully delivered more than 50 complete anaerobic digestion facilities as well as over 130 complex wastewater treatment plants. With more than two decades of expertise and a portfolio of patents pertaining to the processing of organic waste, Andion’s integrated solutions cover every aspect of the waste-to-energy and wastewater treatment value chain.

ABOUT SPRING LANE CAPITAL

Spring Lane Capital is a private equity firm based in Boston, MA and Montreal, QC focused on providing catalytic project capital for sustainability solutions in the energy, food, water, waste and transportation industries. The firm’s structured financial model seeks to tap into some of the fastest growing segments of these markets, that more traditional forms of project capital cannot access due to their scale and the limitations of existing investment models.

ABOUT EQUITIX INFRASTRUCTURE INVESTMENTS LTD.

Equitix is an established, international investor, developer and fund manager of core infrastructure assets focused on building long-term partnerships to support, develop and invest in a range of large-sale infrastructure projects, while delivering first class service and value. Launched in 2007, Equitix now operates from 16 global locations, with over 300 dedicated professional staff, collectively managing c. £8bn AUM, operating across Social infrastructure, Transport, Renewable Power, Technology, Media, Telecommunications (TMT), Network Utilities and Environmental Services. Equitix has developed its reputation as a successful, principled developer and manager, acting as custodian of the core infrastructure assets that provide essential services to communities.

ABOUT BDC CAPITAL

BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage.

Andion Global Inc.
Phillip Abrary, President & CEO, Andion Global
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mobile: (604) 506-2855

Spring Lane Capital
Cindy Stoller, Confluence Partners
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mobile: (917) 331-0418

Equitix
Gillian Wilson
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mobile: +44 (0)7384 817 218

BDC
Media Relations
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HOUSTON--(BUSINESS WIRE)--Waste Management, Inc. (NYSE: WM) today announced the declaration of a quarterly cash dividend of $0.65 per share payable March 31, 2022 to stockholders of record on March 17, 2022.

ABOUT WASTE MANAGEMENT

Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com.

Waste Management

Website
investors.wm.com

Analysts
Ed Egl
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Toni Werner
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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the Barclays Midstream & Clean Infrastructure Corporate Access Days. The conference is being held virtually on Tuesday, March 1st, 2022 and Wednesday, March 2nd 2022.

The Partnership’s latest presentation materials are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.

Genesis Energy, L.P.
Dwayne Morley
VP – Investor Relations
(713) 860-2536

SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) today announced that the 2021 tax packages, which include the Schedule K-1’s for Series A, Series B and Series C preferred units and common units, are available online at www.nustarenergy.com in the Investors section of the website. The partnership expects to begin mailing the 2021 tax packages on March 2, 2022. For additional information, NuStar Energy L.P. unitholders may call K-1 Tax Package Support toll free at (844) 364-7560 for Series A, Series B and Series C preferred units and (800) 310-6595 for common units, weekdays between 8 a.m. and 5 p.m. CT.

NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 10,000 miles of pipeline and 64 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. The partnership’s combined system has approximately 57 million barrels of storage capacity, and NuStar has operations in the United States, Canada and Mexico. For more information, visit NuStar Energy L.P.’s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/.

NuStar Energy L.P., San Antonio
Investors, Pam Schmidt, Vice President, Investor Relations
Investor Relations: 210-918-INVR (4687)
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Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer,
Corporate Communications: 210-918-2314/210-410-8926

Investors include Nippon Steel Trading, Steel Dynamics, and Rio Tinto

ST. PAUL, Minn.--(BUSINESS WIRE)--#aymium--Aymium, the leading producer of renewable biocarbon products, announced that it has secured Series B funding to support capacity expansion and increased deployment of its environmental technologies bringing total investment in the company to over $200 million.

Aymium’s products, including biocarbon and biohydrogen, are protected by more than 250 issued and pending patents globally and are engineered to immediately displace fossil fuel-based inputs—such as coal or coke in steel and metals production—without the need for any type of plant modifications.

“Our mission is to accelerate the transition away from fossil fuels and reduce the impact on the environment,” said Aymium CEO James Mennell. “Aymium’s products allow immediate replacement of fossil fuels with renewable, carbon negative inputs without any changes to existing manufacturing processes or equipment. This investment and partnership will further advance our mission of improving the environment with our new partners on a global scale.”

Every ton of Aymium’s product used in place of coal results in a net reduction of over five tons of CO2. Strategic investors are interested in displacing fossil fuel inputs in their facilities for metals production and use of Aymium’s products to accelerate their decarbonization initiatives.

“Sandton made its original investment based on Aymium’s proven operating history and the clear opportunity for its patented, renewable replacement for coal-based products,” said Tom Wood, co-CIO of Sandton Capital, Aymium’s lead investor. “With this capital raise, Aymium has brought in a collection of strong global partners who are both leaders in their respective fields as well as leaders in the transition away from fossil fuels. This investment represents an important next step in the growth of Aymium as well as a clear validation of its products, technologies and management team.”

Aymium operates the largest advanced biocarbon production facility in North America located near Marquette, Michigan. Aymium’s patented process converts certified sustainably sourced biomass into biocarbon using integrated thermolysis. The non-combustion process converts biomass to high purity biocarbon and biogas, recovers and recycles water from the biomass, and is powered by self-generated renewable energy. Aymium’s process produces the only commercially demonstrated carbon-negative input for global steel production.

“We are incredibly excited to make this important investment to support Aymium’s mission to advance renewable biocarbon production,” said Theresa E. Wagler, executive vice president and CFO of Steel Dynamics, Inc. “Our commitment to all aspects of sustainability is embedded in our founding principles – valuing our teams, our partners, our communities, and our environment. This investment and our planned strategic relationship with Aymium represent a significant step on our path to carbon neutrality, and our continued commitment to reduce our environmental footprint.”

Proceeds from the financing will be used to advance construction of Aymium’s newest production facility in Williams, California and another in the Pacific Northwest. The new facilities will employ over 125 people combined and will be operational in 2023. Production from both plants is contracted through 2037 and is projected to reduce over 1.4 million tons per year of CO2—equivalent to removing over 300,000 cars per year from the road.

“We are delighted to become an equity partner in Aymium,” said Sinead Kaufman, chief executive of Rio Tinto Minerals. “This investment is aligned with our strategy of partnering in the development of leading-edge technologies with the potential to help deliver lower carbon footprints and environmentally sensitive solutions when producing essential minerals and metals.”

Credit Suisse Securities (USA) LLC acted as exclusive placement agent in connection with Aymium’s Series B financing. Latham & Watkins, LLP acted as legal counsel to Aymium.

About Aymium

Aymium produces high-value biocarbon and biohydrogen products that can be used to immediately replace fossil fuels in the production of metals, energy, crops, and in the purification of water and air with no modifications to equipment or processes. Produced using sustainably sourced biomass – recovered and unusable wood – Aymium’s bioproducts are renewable, carbon-negative and they replace emission-heavy fossil fuels such as coal and coke. Aymium’s leading technology is backed by more than 250 issued or pending patents on a global basis. Aymium is headquartered in Minnesota.

About Sandton Capital

Sandton Capital is an investment fund founded in 2009 by Rael Nurick and Tom Wood. With primary offices in New York and London, Sandton Capital has invested over $1.5 billion since its founding and is authorized and regulated by both the Securities and Exchange Commission (SEC) and the Financial Conduct Authority (FCA).

About Steel Dynamics, Inc.

Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States, based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States and in Mexico. All of Steel Dynamics steel production facilities utilize electric arc furnace technology. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections and steel joists and deck. In addition, the company produces liquid pig iron and processes and sells ferrous and nonferrous scrap.

About Rio Tinto

Rio Tinto is a mining and metals company operating in 35 countries around the world that produces the materials essential to human progress. It aims to help pioneer a more sustainable future, from partnering in the development of technology that can make the aluminum smelting process entirely free of direct GHG emissions, to providing the world with the materials it needs – such as copper and titanium – to build a new low-carbon economy and products like electric vehicles and smartphones.

About Nippon Steel Trading Corporation

Nippon Steel Trading Corporation is the core trading company of NIPPON STEEL CORPORATION Group, and was established in October 2013 through merger of Nippon Steel Trading Co., Ltd. and Sumikin Bussan Corporation. The company continues to grow as a multiple specialty trading company operating four integrated core businesses: Steel, Industrial Supply & Infrastructure, Textiles, and Foodstuffs.

Forward-Looking Statements

This press release contains some predictive statements about future events, including statements related to new facilities and environmental impact. These statements, which are generally preceded or accompanied by such typical conditional words as "anticipate", "intend", "believe", "estimate", "plan", "seek", "project", or "expect", or by the words "may", "will", or "should", are intended to be made as "forward-looking," subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These statements speak only as of this date and are based upon currently available information and assumptions, which we consider reasonable as of this date. Such predictive statements are not a guarantee of future performance, and we undertake no duty to update or revise any such statements. There are many factors that could cause such forward-looking statements to turn out differently than anticipated.

Media contact:
Scott Gallagher
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