DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities in the Global Wind Services Market" report has been added to ResearchAndMarkets.com's offering.

Global wind services market is forecast to grow from $18.95 billion to $42.25 billion by 2030, at a compound annual growth rate (CAGR) of 8.2%.

Over 1000 GW of wind power capacity will come online between 2021 and 2030, which would significantly increase the opportunity for the wind services market.

Asia-Pacific is the largest wind services market, accounting for 40.1% of the global market in 2020. Rapidly increasing installations of wind turbines and favorable regulations are the primary drivers of the wind turbine O&M market in Asia-Pacific.

China, Japan, and India are some of the largest countries with cumulative installations in the region. Europe was the second-largest market for wind services in 2020. In service contracts, the shift toward energy availability contracts is expected to dominate the market, followed by service contracts offered by specialized service providers.

Continued concerns over increasing carbon emissions and the need to mitigate climate change have forced governments to accelerate investments in renewable energy. Wind and solar energy, in particular, are expected to play a crucial role in the global race toward decarbonization. Over the last ten years, wind energy capacity additions have gained momentum worldwide. Wind energy has become one of the fastest-growing energy sources and one of the most economical solutions for electricity generation.

As wind energy grows, the demand for operations and maintenance (O&M) services increases, to maintain the wind power fleet and keep turbines spinning and producing clean energy without any disturbance. O&M plays a crucial role in the wind energy industry and ensures the long-term sustainability and growth of wind power worldwide.

In addition, the aftersales and service business continues to be an increasingly important source of revenue for OEMs and independent service providers (ISPs). The wind service business is now fully recognized as an important business opportunity worldwide and will continue to grow, with new capacity additions coming online.

Over 1000 GW of wind power capacity will come online between 2021 and 2030, which would significantly increase the opportunity for the wind services market. During this period, the global wind services market is forecast to grow from $18.95 billion to $42.25 billion by 2030, at a compound annual growth rate (CAGR) of 8.2%.

Besides yearly capacity additions, the opportunity for the wind services market will come from ageing wind turbines coming out of warranty, especially across Europe and North America. Typical service costs for old turbines are higher than for new ones, thus increasing the annual revenue for OEMs and ISPs. Overall, the scope for the wind services market is expected to grow across all geographies.

Currently, the leading participants in the wind service industry are turbine OEMs and ISPs. Component manufacturers and in-house service teams have a small share across the market. As the global renewables market continues to grow and mature, the wind services industry is shifting from product-focused to service-focused business models and witnessing an increasing scale of digitalization, which has created new entrants: specialized service providers.

These new service providers offer technical services, including drones and robots for monitoring and assessing or even individual component based monitoring.

The future outlook for the wind services market remains positive, although the challenges posed by COVID 19 and the scope for wind services are expected to grow across all geographies. Overall, increasing annual capacity additions, ageing wind turbines, and innovations in digitalization will drive the wind services market.

KEY ISSUES ADDRESSED

• What is the status of the global wind energy market? How is it projected to grow until 2030? What are the different trends driving the global wind energy market?
• What is the current status of the global wind services market? What are the current trends driving the global wind services market? What are the key drivers and restraints influencing the wind services market?
• Who are the different service providers, and what typical contracts do they offer?
• What is the size of the current wind services market, and how much is it forecasted to grow until 2030? Which regions will show the highest growth potential going forward?
• What are the different growth opportunities in the global wind services market?

Key Topics Covered:

1. Strategic Imperatives

• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative
• The Impact of the Top 3 Strategic Imperatives on the Wind Services Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

2. Market Coverage

• Findings
• Wind Services Market - Scope of Analysis
• Geographical Scope
• Analysis by Contract Type
• Key Growth Metrics
• Questions this Study will Answer

3. Growth Environment

• Introduction to Wind Services
• Challenges and Downtime Impact
• Components and Servicing Requirements
• Enablers Impacting Services Strategy
• Market Ecosystem
• Synergy Between the Wind Industry and Service Providers
• Services and Offerings
• Evolution of the Market

4. Global Wind Power Forecasts

• Wind Power Forecasts - Annual Capacity Additions
• Wind Power Forecasts - Cumulative Installed Capacity
• Offshore Wind Forecast - Cumulative Capacity Additions

5. Market Drivers, Restraints, and Trends

• Global Drivers
• Growth Restraints
• Market Trends

6. Market Forecasts

• Revenue Forecast
• Revenue Forecast Analysis
• Revenue Forecast by Region
• Revenue Forecast Analysis by Region
• Revenue Forecast by Service Contract Type
• Revenue Forecast Analysis by Service Contract Type
• Revenue Forecast by Wind Farm Type
• Revenue Forecast Analysis by Wind Farm Type

7. Regional Analysis

• NA Market Analysis
• European Market Analysis
• APAC Market Analysis
• LATAM Market Analysis
• MEA Market Analysis

8. Competitive Analysis

• Competitive Landscape
• Competitive Environment
• Revenue Share
• Revenue Share Analysis
• Company Profile - Vestas
• Company Profile - Siemens Gamesa
• Company Profile - PSI Repair Services

9. Growth Opportunity Universe - Wind Services Market

• Growth Opportunities Impact
• Growth Opportunity 1: Shift towards Turbine-As-A-Service
• Growth Opportunity 2: From Predictive to Prescriptive
• Growth Opportunity 3: Deployment of Innovative Business Models
• Growth Opportunity 4: Mergers/Collaborations/Partnerships Across Value Chain
• Growth Opportunity 5: Drones for O&M
• Growth Opportunity 6: Climbing Robots for O&M
• Growth Opportunity 7: Blockchain for Inventory Management
• Growth Opportunity 8: AM for Durable Parts
• Growth Opportunity 9: Digital Twins for Optimized Performance
• Growth Opportunity 10: Augmented/Virtual Reality & Wearables for O&M
• Growth Opportunity 11: Multi-brand Servicing

For more information about this report visit https://www.researchandmarkets.com/r/ssf0mr

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today that the board of directors of its general partner has declared the partnership’s quarterly cash distribution of $0.625 per limited partner unit ($2.50 annually) for the quarter ended December 31, 2021, which is flat quarter over quarter. In addition, Crestwood announced a quarterly cash distribution of $0.2111 per Class A preferred equity unit ($0.8444 annually). Both common and preferred distributions will be made on February 14, 2022, to unitholders of record as of February 7, 2022.

Crestwood expects the previously announced acquisition of Oasis Midstream Partners LP (“OMP”) to close on February 1, 2022. Upon close, legacy OMP unitholders will have their ownership converted to Crestwood units at the previously disclosed exchange ratio. All legacy OMP unitholders that remain Crestwood unitholders as of the February 7, 2022 record date will receive Crestwood’s $0.625 per limited partner unit distribution attributed to the fourth quarter 2021. As previously announced, following the first quarter after the acquisition closes, Crestwood intends to recommend an approximate 5% limited partner distribution increase, or $2.62 per limited partner unit annually, to the board of directors attributable to the first quarter of 2022 and payable in May 2022.

Crestwood plans to report financial results for the fourth quarter 2021 and provide full-year 2022 financial guidance on Tuesday, February 22, 2022, before the New York Stock Exchange opens for trading. Following the announcement, management will host a conference call for investors and analysts at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) that day to discuss the operating and financial results. Crestwood will provide an update on its operations and financial strategy at that time. The call will be broadcast live over the internet via audio webcast. Investors will be able to connect to the webcast via the “Investors” page of Crestwood’s website at www.crestwoodlp.com. Please log in at least ten minutes in advance to register and download any necessary software. A replay will be available shortly after the call for 90 days.

About Crestwood Equity Partners LP

Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling, and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in Crestwood’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.

No Offer or Solicitation

This communication relates to the proposed transaction between OMP and Crestwood. This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote approval, in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this document in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information and Where You Can Find It

In connection with the proposed transaction, Crestwood filed a registration statement on Form S-4 on December 7, 2021 (as amended on December 28, 2021), that includes a consent statement/prospectus for the unitholders of OMP with the U.S. Securities and Exchange Commission (“SEC”). The registration statement was declared effective by the SEC on December 30, 2021, and on the same day Crestwood and OMP filed the definitive consent statement/prospectus in connection with the proposed transaction. This press release is not a substitute for the registration statement, the definitive consent statement/prospectus or any other document that Crestwood or OMP has filed or may file with the SEC. INVESTORS AND UNITHOLDERS OF CRESTWOOD AND OMP ARE ADVISED TO CAREFULLY READ THE REGISTRATION STATEMENT AND THE CONSENT STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION, THE PARTIES TO THE TRANSACTION AND THE RISKS ASSOCIATED WITH THE TRANSACTION. Investors and unitholders may obtain a free copy of the definitive consent statement/prospectus filed by Crestwood and OMP with the SEC from the SEC’s website at www.sec.gov. Unitholders and other interested parties are also be able to obtain, without charge, a copy of the definitive consent statement/prospectus and other relevant documents from Crestwood’s website at https://www.crestwoodlp.com/investors/ or from OMP’s website at http://oasismidstream.investorroom.com.

Participants in the Solicitation

Crestwood, OMP and their respective directors, executive officers and general partners, and Oasis Petroleum and its directors and executive officers may be deemed to be participants in the solicitation of consents from the unitholders of OMP in respect of the transactions. Information about these persons is set forth in Crestwood’s Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the SEC on February 26, 2021, OMP’s Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the SEC on March 8, 2021, and subsequent statements of changes in beneficial ownership on file for each of Crestwood and OMP with the SEC. Unitholders and investors may obtain additional information regarding the interests of such persons, which may be different than those of the respective companies’ unitholders generally, by reading the definitive consent statement/prospectus, or other relevant documents regarding the transaction (if and when available), which may be filed with the SEC.

Tax Notice to Foreign Investors

This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of Crestwood’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Crestwood’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not Crestwood, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.

Crestwood Equity Partners LP
Investor Contact

Rhianna Disch, 713-380-3006
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Director, Investor Relations

Sustainability and Media Contact

Joanne Howard, 832-519-2211
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Senior Vice President, Sustainability and Corporate Communications

LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) announced today that its Board of Directors has declared the regular quarterly dividend on its common stock of $ 0.40 (forty cents) per common share, an increase of 33% over the prior quarterly dividend, payable to stockholders of record on February 4, 2022. The dividend will be paid on February 18, 2022.

About J.B. Hunt

J.B. Hunt Transport Services, Inc., an S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, final mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.

Brad Delco
Vice President - Finance & Investor Relations
(479) 820-2723

MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro”) (NYSE: PUMP) today announced that it will issue its fourth quarter of 2021 earnings release on Tuesday, February 22, 2022, after the close of trading. ProPetro will host a conference call on Wednesday, February 23, 2022, at 8:00 AM Central Time to discuss its fourth quarter results.

To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro’s website, www.propetroservices.com.

A replay of the conference call will be available for one week following the call and can be accessed toll free by dialing 1-877-344-7529 for U.S. callers, 1-855-669-9658 for Canadian callers, as well as 1-412-317-0088 for international callers. The access code for the replay is 3464592.

About ProPetro

ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.

Contact: ProPetro Holding Corp

David Schorlemer, 432-227-0864
Chief Financial Officer
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Contact: ProPetro Holding Corp

Josh Jones, 432-276-3389
Director of Finance
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DUBLIN--(BUSINESS WIRE)--The "Naval Vessel Maintenance, Repair, and Overhaul (MRO) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2031)" report has been added to ResearchAndMarkets.com's offering.

The naval vessel maintenance, repair, and overhaul (MRO) market was valued at about USD 54.04 billion in 2021, and it is projected to register a CAGR of about 2% during the forecast period (2022 - 2031).

Companies Mentioned

• General Dynamics Corporation
• Huntington Ingalls Industries Inc.
• Lockheed Martin Corporation
• NAVANTIA SA SME
• ThyssenKrupp AG
• BAE Systems PLC
• Naval Group
• Rolls-Royce Holdings PLC
• Rhoads Industries, Inc.
• Abu Dhabi Ship Building Company
• Larsen & Toubro Limited
• Damen Shipyards Group
• FINCANTIERI SpA

Key Market Trends

The Destroyers Accounted for a Major Share by Revenue in 2021

Destroyers are fast, maneuverable, long-endurance warships that escort support and larger vessels in a fleet and defend them against the attacks of smaller powerful short-range surface combatants. The current global fleet of destroyers is around 250. Countries such as the United States, China, and Japan account for the highest share of the existing fleet of destroyers in the world. Due to their rather expensive procurement and operating costs, only a select few navies operate destroyers globally. With the global fleet age of destroyers increasing, countries around the world are investing in the modernization of their fleet with advanced equipment and in-service maintenance and overhaul plans.

Also, the growing requirement of equipping the newer destroyers with the latest weapon systems is driving the need for destroyer modernization programs. For instance, in July 2021, MBDA UK was awarded an 11-year contract to integrate the Common Anti-Air Modular Missile, often referred to as Sea Ceptor, into the UK Navy's Type 45 destroyers' Sea Viper weapon systems. The work will also include the upgrade of the Sea Viper command and control (C2) system. Fitting CAMM onto the Type 45s will give the destroyers a 50% increase in the number of its air defense missiles. The first Type 45 destroyer is expected to be overhauled by summer 2026.

Also, as of 2021, the navies of France and Italy were planning to conduct a mid-life upgrade of the Horizon class of air warfare destroyers that have been in service for more than ten years. In 2020, Naviris provided a contract to Naval Group, which was contracted through OCCAR (Organization for Joint Armament Co-operation) to conduct a feasibility study for the upgrade. Countries are also investing in sustaining the existing destroyer fleets by upgrading decades-old ships with newer systems and extending their service life. In 2021, the United States started upgrading the sensors, electronics, and weapons aboard the existing fleet of DDG-51 Arleigh Burke-class Flight IIA destroyers. Such developments are expected to drive the growth of the segment during the forecast period.

The Asia-Pacific Region Held the Highest Market Share in 2021

The Asia-Pacific region currently dominates the market, and it is expected to continue its dominance during the forecast period. Countries like China, India, and Japan are increasing their investment in strengthening their naval capabilities due to the ongoing geopolitical tensions in the region. China is one of the largest navies in the world, with 335 naval vessels (2019), about 55% larger than in 2005, where the majority of the fleet is more than 13 years.

Similarly, other countries (like India and Japan) are also operating a fleet of aging naval vessels. Due to this, the countries are modernizing their fleets of naval vessels through the integration of advanced technologies (modifications) into the vessels. In this regard, the Australian government announced an investment of USD 75 billion over the next decade to enhance its naval capabilities. Out of the total investment, approximately 1/3rd of the investment is expected toward the improvement and sustainment of its naval vessels.

Under this investment, the country plans to upgrade its Hobart Class Destroyers, ANZAC Class Frigates, and the country navy's Amphibious ships and invest in the upgrade and life extension of the Collins Class submarines that are currently in service (average age more than 20 years). Similar investments in the modernization of naval vessels are anticipated to accelerate the demand for naval vessel MRO in the region in the coming years.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Vessel Type

5.2 MRO Type

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/y8ul06

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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EAST AURORA, N.Y.--(BUSINESS WIRE)--Moog Inc. (NYSE: MOG.A and MOG.B) will release its first quarter fiscal 2022 earnings for the period ended January 1, 2022 on Friday, January 28, 2022. In conjunction with this release, Moog will host a conference call beginning at 10:00 a.m. ET, which will be simultaneously broadcast live over the Internet. John Scannell, Chairman and CEO, and Jennifer Walter, CFO, will host the call.

Listeners can access the conference call live or in replay mode on the Internet at http://www.moog.com/investors/communications/. Please allow 15 minutes prior to the call to visit the site to download and install any necessary audio software.

Supplemental data will be available on the website approximately 90 minutes prior to the call and will be archived for 45 days.

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment. Additional information about the company can be found at www.moog.com.

Ann Marie Luhr
716-687-4225

Industry Veteran Dilanka Seimon Joins Energy Transfer As Vice President Alternative Energy

DALLAS--(BUSINESS WIRE)--#ESG--Energy Transfer LP (NYSE: ET) today announced it has expanded its Alternative Energy Group with the hiring of energy industry veteran Dilanka Seimon. Seimon, who most recently led BHP’s global energy sales and procurement team, joined Energy Transfer earlier this month as vice president, Alternative Energy. Seimon will be responsible for developing alternative energy and carbon capture projects for Energy Transfer along with various ESG initiatives including the development of carbon offset programs that are accretive to the Partnership’s operations.

Seimon spent eight years with BHP most recently as Vice President Global Sales & Marketing, Oil, Gas, Power & Carbon. Prior to BHP, he held positions with Southwest Energy, Wells Fargo Commodities and Sequent Energy Management. He received a Bachelor of Science degree in Economics and Finance in 2003 from Georgia College & State University. He also received a Master of Business Administration degree from Duke University in 2008 and completed Harvard Business School’s General Management Program in 2018.

“Adding Dilanka’s significant experience in the energy industry and his insights into renewable energy opportunities will help us continue to develop our alternative energy and ESG platforms,” said Tom Mason, head of the Alternative Energy Group. “We are very pleased to add Dilanka to our team.”

Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC).

The information contained in this press release is available on our website at www.energytransfer.com.

Media Relations:
Vicki Granado
Lauren Atchley
214-840-5820
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Investor Relations:
Bill Baerg
Brent Ratliff
Lyndsay Hannah
214-981-0795

To develop center of competency in Battery Management Systems and application engineering capabilities to serve customers in America

SEOUL, South Korea & SAN JOSE, Calif.--(BUSINESS WIRE)--Grinergy, a South Korean headquartered lithium-ion rechargeable battery and battery management systems company will be expanding their operations in the U.S. This includes Proof of Concept (POC) for the local market and accelerating their R&D to set the groundwork for product sales launch. Grinergy operates on a global basis with operations in Asia, North America and Europe.

Grinergy is dedicated to solving challenges still facing lithium-ion technology such as:

• The need to increase energy density of the batteries
• Allowing recharging rates that are significantly faster than those possible today
• Improving the cold-weather performance of batteries (Some studies have shown up to a 40 percent reduction in range in severe cold weather)
• Increasing safety by reducing the danger of fire

Using proprietary technology developed by the Grinergy engineering, research, and development team, the company has developed batteries that:

1. Are capable of charging at -30 °C with minimum capacity and range reduction.
2. Charge rates up to 10 times faster than today’s conventional Lithium-ion batteries.
3. Vastly increased safety with no thermal runaway at 400 °C.
4. 3-4 times higher discharge capacity.

Leading the U.S. investor relations and new business development is Don Southerton, an acknowledged expert in South Korean and global business practices. In the past, Southerton has assisted American companies entering the Korean market and Korean companies entering and expanding their global operations.

“With Grinergy’s new improvements to rechargeable lithium-ion batteries backed up by a growing body of engineering knowledge and intellectual property patents, the company is now ready to explore how these battery technology advancements can benefit companies working in robotics, smart sign, portable power stations and other spaces,” said Southerton.

Scott Bang, Grinergy CEO, added, “As we look globally, North America is one of the key regions for lithium-ion battery development and Grinergy feels that it is the next logical step after its growth in Asia, where it already has a number of companies using our batteries, intellectual property (IP), and engineering know-how.”

Further product and corporate information is available from Don Southerton at This email address is being protected from spambots. You need JavaScript enabled to view it.

About Grinergy

Grinergy is a lithium-ion battery technology company headquartered in South Korea which offers multiple solutions to revolutionize the shortcomings of the conventional lithium battery industry. Grinergy’s proprietary technology offers remarkable safety with improved charging capability. The company currently has offerings in the robotics, smart sign and, portable power stations spaces, and will be expanding its offerings in the future.

Don Southerton
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+1-310-866-3777

U.S. Army Corps Awards Channel Infrastructure Project $142 Million

HOUSTON--(BUSINESS WIRE)--Wednesday, the U.S. Army Corps of Engineers (USACE) released its FY22 Workplan for the Infrastructure Investment and Jobs Act (IIJA). The Houston Ship Channel's Project 11, the deepening and widening channel improvement program, was allocated $142,515,000.

This funding is specifically designated to complete Segment 3 of Project 11, which will focus on the Barbours Cut Container Terminal section of the Houston Ship Channel.

“Thank you to our United States Senators Cruz and Cornyn; our Congressmembers Garcia, Fletcher, Jackson Lee, Green, McCaul, Babin, Weber, Allred, Crenshaw, and Nehls; and to the many Port stakeholders who advocated for this critical investment in the future of our national economy and security,” said Port Houston Commission Chairman Ric Campo. “With this funding, we are one step closer to building a better Port for the next generation of Texans and Americans.”

As the only port in Texas to receive construction funding in the IIJA, this represents a milestone win for the Houston Ship Channel and will enable the Port and the USACE to keep the $1 billion Project 11 moving forward.

“This federal funding is essential to keep Project 11 on track and bring to fruition a safer, faster, and cleaner ship channel for all users,” said Port Houston Executive Director Roger Guenter. “This investment and continued partnership with the USACE will enable our ship channel to keep leading the way in supply chain efficiencies and meet the demands of new markets and supply chains. Thank you to all those involved in bringing these funds back to Houston.”

“The Houston Ship Channel remains the crown jewel of the Texas economy and today’s announcement that the Army Corps will be funding a segment of the project is a victory for our state,” stated U.S. Senator Ted Cruz. “Funding this project will not only help ensure that the port continues to have the necessary capacity to make Texas and the United States the energy leader of the world, but also help address current and future supply chain disruptions.”

“Access to safe and efficient infrastructure is critical as more goods come in and out of Texas ports each day,” said U.S. Senator John Cornyn. “I applaud this announcement and look forward to seeing the positive impact this investment for the Port of Houston will have on commerce.”

Completion of Segment 3 will facilitate handling of larger container vessels at this terminal, a critical step to increasing the efficiency of the nation's logistics infrastructure. US total container volumes surged 8% in 2021 while Port Houston container volumes grew 15% year over year. Segment 3 also connects to the Enterprise Morgan's Point Terminal, a logistics hub that supports the U.S. oil and gas exploration and chemical sectors.

“I am thrilled that the U.S. Army Corps of Engineers will award $142,515,000 from the Infrastructure Investment and Jobs Act (IIJA) to the Port of Houston,” said Congresswoman Lizzie Fletcher. “This investment in the Port of Houston will strengthen our nation’s largest port for waterborne tonnage, providing increased cargo handling efficiency and capacity, allowing for bigger ships and more cargo to pass through the channel, and ensuring the Port of Houston remains a strategic gateway for trade. I was glad to vote for the IIJA to fund critical projects like this one, and I was glad to advocate for this project’s inclusion in this round of funding. This investment will benefit our city, our state, and our country, cementing Houston’s leadership in trade, strengthening our country’s supply chain, and building for our future.”

“This critical funding of $142 million to the Houston Ship Channel is the kind of investment that is needed to build resiliency and capacity for the future of our supply chain,” said Congresswoman Sylvia Garcia. “I am proud that these federal dollars from the bipartisan infrastructure bill are going to spur our local Texas economy and make the busiest cargo waterway in the nation even better. Our ship channel and our port are key to keeping our economy growing and sustaining over 3.2 million jobs across our nation.”

“I am glad to have helped with the tough negotiations to move the Infrastructure Investment and Jobs Act to passage, which is now bringing $142,515,000 to the Port of Houston,” stated Congresswoman Sheila Jackson Lee. “I am glad the Army Corps of Engineers moved forward quickly to provide this funding to the Port of Houston that will be used for dredging, construction, port resiliency, and other improvements that will create new jobs. The Port of Houston is one of the largest ports in the world. It encompasses a 52-mile ship channel and sustains nearly 200 private businesses. The $142,515,000 of Federal dollars to the Port of Houston will benefit the City of Houston and Harris County residents.”

Congressman Al Green responded to the news of this historic funding stating, “As the #1 Port in the nation, the Port of Houston plays an invaluable role in spurring economic growth and making the City of Houston, Harris County, and the United States top contenders in the global market. It allows international goods to flow in and out of our country, generates millions of job opportunities, and brings in billions of dollars in tax revenue annually. I am delighted the Port has been the recipient of over $140 million awarded by the U.S. Army Corp of Engineers as part of their Fiscal Year 2022 Workplan for the Infrastructure and Investment Jobs Act. These funds will allow the Port of Houston and its ship channels to continue handling its freight with maximum efficiency, manage the increasing volume of cargo, and operate with a higher degree of sustainability. I look forward to continue supporting the Port and helping maintain its competitive edge as a leading hub for international trade.”

“After receiving a New Start designation just last year, I am exceedingly proud that the Houston Ship Channel made another huge step forward by securing more than $142 million in the U.S. Army Corps of Engineers FY 2022 Work Plan to complete construction of Segment 3 – Barbours Cut Channel,” responded Congressman Brian Babin. “Funding this construction will make the nation’s most strategic waterway more efficient and will have a great impact on this country’s future economic growth. It has always been a top priority for me to ensure we secure the funds necessary to complete this project, and I am proud of the hard work that has helped push this forward.”

According to the Army Corps press release, key port projects were selected to strengthen the nation’s supply chain and provide significant new economic opportunities nationwide.

“We are excited to see the Administration rely on the U.S. Army Corps of Engineers and the Port of Houston to deliver a modern Houston Ship Channel,” said Galveston District Commander Col. Timothy Vail. “This sophisticated coordination between USACE and Port Houston has been successful in delivering this project faster than any other project of its kind for the federal government. The economic, safety, and environmental benefits from this project will guide the future of not only the Houston Ship Channel, but the entire region as well.”

At the end of December, Port Houston was also awarded a federal grant of $18,267,600 by the Maritime Administration of the Department of Transportation (MARAD) to develop and expand the Port’s Bayport Container Terminal as well. This grant will help create an additional 39 acres of the container yard, building upon the increased capacity of the expanded ship channel to accommodate deeper draft vessels carrying more cargo containers.

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-Daniels
Office: 713-670-2644; Mobile: 832-247-8179
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Prototype to start in 2022 in North America

COLUMBUS, Ind.--(BUSINESS WIRE)--Cummins Inc. (NYSE: CMI) and Isuzu Motors Limited announced an agreement to create a prototype medium-duty, battery electric truck to demonstrate in North America. This truck represents the first zero-emissions solution facilitated by the Isuzu Cummins Powertrain Partnership (ICPP) formed in May 2019. Through this arrangement, Cummins will integrate the Cummins PowerDrive6000 into Isuzu’s F-Series truck and will pilot the truck with prominent North American fleets beginning in 2022. Following a successful demonstration and pilot phase, Isuzu will explore opportunities to commercialize medium-duty, battery-electric trucks with Cummins-powered systems across North America.

“We are excited to be working with Isuzu to accelerate decarbonization within the partnership,” said Amy Davis, Vice President and President of New Power at Cummins. “It’s through our joint commitment in innovation that we provide our customers with safe, reliable zero-emissions solutions.”

“As addressed in Isuzu Environmental Vision 2050, we will advance global environmental actions including reducing greenhouse emissions and securing a prosperous and sustainable society. As part of the path to carbon neutrality, it is significant for us to start this joint BEV prototype project in North America. Through our partnership, we commit to continuing to explore further opportunities in the next generation power source, including electric powertrain technologies in addition to the existing powertrain collaboration,” said Koichi Seto, Director of the Board, and Senior Executive Officer at Isuzu.

Cummins and Isuzu continue to innovate and advance the future of power to support customers in achieving zero-emissions. Benefiting from each other’s unique strengths, the companies will seek opportunities to further expand collaborations to drive global growth.

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 57,800 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020. Learn more at cummins.com.

About Isuzu

Isuzu, is a leading global automobile company, based in Tokyo, Japan and is engaged in the design, development, manufacturing, sale and service of commercial vehicles, pick-up trucks, diesel and natural gas engines, parts and components. Isuzu products are sold in over 150 countries and regions worldwide. Its Japan’s No.1 light-duty truck brand ELF holds top shares in many countries and acclaimed as the global standard in light-duty trucks. D-MAX pick-up truck has been manufactured and exported to approximately 100 countries from its production base in Thailand. More information can be found at www.isuzu.co.jp.

Jon Mills, External Communications
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DALLAS--(BUSINESS WIRE)--Energy Transfer LP (“ET”) today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETprE). These cash distributions will be paid on February 15, 2022 to Series C, Series D and Series E unitholders of record as of the close of business on February 1, 2022.

Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at www.energytransfer.com

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

This release serves as qualified notice to nominees as provided for under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note that 100 percent of Energy Transfer LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer LP’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

The information contained in this press release is available on our website at energytransfer.com.

Investor Relations:
Bill Baerg
Brent Ratliff
Lyndsay Hannah
214-981-0795

Media Relations:
Vicki Granado
214-840-5820

• Orders of $6.7 billion for the quarter, up 24% sequentially and up 28% year-over-year
• Revenue of $5.5 billion for the quarter, up 8% sequentially and flat year-over-year
• GAAP operating income of $574 million for the quarter, up 52% sequentially and favorable year-over-year
• Adjusted operating income (a non-GAAP measure) of $571 million for the quarter, up 42% sequentially and up 23% year-over-year
• Adjusted EBITDA* (a non-GAAP measure) of $844 million for the quarter was up 27% sequentially and up 10% year-over-year
• GAAP diluted earnings per share of $0.32 for the quarter which included $(0.08) per share of adjusting items. Adjusted diluted earnings per share (a non-GAAP measure) were $0.25.
• Cash flows generated from operating activities were $773 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $645 million.

The Company presents its financial results in accordance with GAAP. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see reconciliations in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures." Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers.

*Adjusted EBITDA (a non-GAAP measure) is defined as operating income (loss) excluding depreciation & amortization and operating income adjustments.

LONDON & HOUSTON--(BUSINESS WIRE)--Baker Hughes Company (Nasdaq: BKR) ("Baker Hughes" or the "Company") announced results today for the fourth quarter and total year 2021.

“We are pleased with our fourth quarter results as we generated another quarter of strong free cash flow, solid margin rate improvement, and strong orders from TPS. For the full year, we were pleased with our performance and took several important steps to accelerate our strategy and help position the Company for the future. Overall, 2021 proved to be successful on many fronts for Baker Hughes, with key commercial successes and developments in the LNG and new energy markets, as well as record cash flow from operations and free cash flow, and peer-leading capital allocation. I would like to thank our employees for their hard work and commitment to achieve our goals, deliver for our customers and move the Company forward,” said Lorenzo Simonelli, Baker Hughes chairman and chief executive officer.

“As we look ahead to 2022, we expect the pace of global economic growth to remain strong although slightly moderate compared to 2021. We believe the broader macro recovery should translate into rising energy demand for 2022 and relatively tight supplies for oil and natural gas, providing an attractive investment environment for our customers and a strong tailwind for many of our product companies."

“We are very excited with the strategic direction of Baker Hughes and believe the Company is well-positioned to capitalize on near-term cyclical recovery and for long-term change in the energy and industrial markets. We look forward to another year of supporting our customers, continuing to advance our strategy, and delivering for shareholders in 2022,” concluded Simonelli.

Quarter Highlights

Supporting our Customers

OFS secured a contract with LUKOIL to begin developing 14 offshore wells in the Baltic Sea’s D33 field. The contract will feature the first-ever combined deployment of Baker Hughes’ electrical submersible pumps (ESP) and LUKOIL’s Permanent Magnet Motors (PMM) since the two companies announced a collaboration on energy efficient technologies in June 2021. Baker Hughes’ ESP technology has unsurpassed levels of efficiency, reliability, and performance, while LUKOIL’s PMM technology enables a 15-20% reduction in energy consumption compared to current artificial lift processes.

OFS also secured a two-year contract for technology and services for a major operator in the Permian Basin. The contract combines best-in-class technology and services from the Artificial Lift, Oilfield & Industrial Chemicals, and Reservoir Technical Services product lines, including the CENesis PHASE Artificial Lift system, which optimizes production, extends asset life, increases personnel safety, lowers lifting costs and reduces environmental footprint.

The TPS segment continued to maintain its LNG leadership. TPS secured a major contract from Bechtel to provide high-efficiency gas turbines and centrifugal compressors to support the expansion of the Pluto LNG onshore processing facility in Australia, which is operated by Woodside. The contract will provide six LM6000PF+ aeroderivative gas turbines, 14 centrifugal compressors and additional equipment for Pluto LNG’s second train, leading to an additional expected capacity of approximately 5 million tons per annum (MTPA) and helping to maximize efficiency and flexibility while lowering greenhouse gas emissions.

TPS secured a contract with NOVATEK PAO to provide advanced turbomachinery equipment for a feed gas boosting station in Russia. TPS will provide five turbo-compressors, driven by Frame 5/2D gas turbines, to support the facility, stabilizing the pressure and flow rate of feed gas to maintain maximum carrying capacity. Baker Hughes and NOVATEK have a long history of collaboration, and TPS’ gas turbines have operated successfully at NOVATEK's projects since 2017.

OFE secured a major 10-year contract from Abu Dhabi National Oil Company (ADNOC) for the Surface Pressure Control (SPC) product line to manufacture, supply, store, and service surface wellheads and tree systems. The contract includes ADNOC’s onshore and offshore fields in the UAE as well as a long-term service contract to cover repair, maintenance and spares for the project’s equipment.

The DS segment continued to gain traction in multiple industrial end markets, particularly in the automotive and electronics sectors. The Waygate Technologies product line continued to lead in market share for industrial computed tomography (CT) systems, achieving record revenue in the fourth quarter for battery inspection and securing contracts with major electric vehicle manufacturers and battery suppliers in Europe and Asia.

Executing on Priorities

Baker Hughes and Shell signed a broad strategic collaboration agreement to accelerate the global energy transition. Shell will provide select Baker Hughes sites in the U.S. with power and renewable energy credits, as well as negotiate renewable power for Baker Hughes sites in Europe and Singapore. The two companies will also identify opportunities to accelerate each other’s transition to net-zero carbon emissions by 2050, such as Baker Hughes providing low-carbon solutions for Shell’s LNG fleet through technology upgrades and compressor re-bundles. Baker Hughes will also help Shell develop digital solutions to accelerate decarbonization across Shell’s global assets and operations. The two companies will also explore potential opportunities to co-invest and participate in new models to decarbonize the energy and industrial sectors.

Baker Hughes saw continued customer interest in carbon capture, utilization and storage (CCUS) applications. TPS secured a contract with Santos, a leading natural gas producer in Australia, to supply turbomachinery equipment for the Moomba CCS project, which will serve a gas processing plant and permanently store 1.7 million tons of carbon dioxide (CO2) annually. The equipment scope includes PGT25+G4 aeroderivative gas turbine, MCL compressor, and PCL compressor technologies to compress CO2 captured at Moomba CCS for transportation and subsequent injection for storage.

TPS continued to support the growth of the hydrogen economy, securing a contract with Air Products to supply advanced compression technology for the NEOM carbon-free hydrogen project in the Kingdom of Saudi Arabia. The contract follows the two companies’ hydrogen collaboration agreement announced in mid-2021.

Baker Hughes announced an approximately 20% investment in Ekona Power Inc, a growth stage company developing novel hydrogen production technology. The two companies have joined efforts to accelerate the scale up and industrialization of the technology by identifying suitable pilot projects and leveraging Baker Hughes’ leading turbomachinery portfolio as well as established technical expertise in providing modular and scalable solutions for global hydrogen and natural gas projects. Baker Hughes has also assumed a seat on Ekona’s Board of Directors.

DS continued to secure important contracts with key energy and industrial customers for condition monitoring and industrial asset management solutions. The Bently Nevada product line secured a contract with a major oil company to deploy System 1 asset management software as a standardized platform for enterprise-wide condition monitoring across 28 facilities worldwide. In addition, Bently Nevada secured a five-year service agreement for a major customer in the mining segment to provide asset strategy consulting services and support the customer’s digital transformation to help increase production and improve equipment reliability.

Bently Nevada also secured a contract with Yara, one of the world’s leading fertilizer companies, to enable digital transformation and improve asset reliability and efficiency. The enterprise-wide contract will enable data availability between Yara’s plant operations and the cloud across 23 sites using Bently Nevada’s latest System 1 asset management software, accompanied by a maintenance, support and services agreement.

Baker Hughes continued to invest in industrial asset management capabilities, announcing an investment and multi-year commercial alliance with Augury, a machine health solution provider, to deliver an expanded integrated asset performance management solution through Bently Nevada. Through the alliance, customers will benefit from end-to-end visibility into the health and performance of critical assets and the entire balance of plant, leading to reduced downtime, increased availability and lower maintenance costs.

Leading with Innovation

The BakerHughesC3.ai joint venture alliance (BHC3) secured several key contracts with oil & gas customers to deploy AI-based applications and accelerate digital transformation. In the Middle East, BHC3 and TPS secured a contract to deploy the BHC3™ Reliability application for LNG facilities and will deliver predictive insights at scale. The application will be deployed on the Microsoft Azure cloud platform and integrate with the Baker Hughes iCenter software to improve maintenance planning of critical industrial equipment and expand on the customer’s current monitoring services across its installed turbomachinery equipment.

The Druck product line in DS also saw increased demand for its pressure measurement technologies for the electronic component and semiconductor manufacturing sectors, including a significant contract with a major Asian semiconductor supplier. To support the sector’s rapid growth, Druck has also commercialized and improved the world’s fastest pressure controller, the PACE CM3, allowing customers to have greater flexibility, accuracy, speed and stability in pressure measurement.

Consolidated Results by Reporting Segment

Consolidated Orders by Reporting Segment

Orders for the quarter were $6,656 million, up 24% sequentially and up 28% year-over-year. The sequential increase was a result of higher order intake in Turbomachinery & Process Solutions, Digital Solutions, and Oilfield Services, partially offset by lower orders in Oilfield Equipment. Equipment orders were up 38% sequentially and service orders were up 12%.

Year-over-year, the increase in orders was a result of higher order intake in Turbomachinery & Process Solutions, Digital Solutions, and Oilfield Services, partially offset by lower orders in Oilfield Equipment. Year-over-year equipment orders were up 42% and service orders were up 17%.

The Company's total book-to-bill ratio in the quarter was 1.2; the equipment book-to-bill ratio in the quarter was 1.4.

Remaining Performance Obligations (RPO) in the fourth quarter ended at $23.6 billion, an increase of $0.1 billion from the third quarter of 2021. Equipment RPO was $8.2 billion, up 9% sequentially. Services RPO was $15.3 billion, down 4% sequentially.

Consolidated Revenue by Reporting Segment

Revenue for the quarter was $5,519 million, an increase of 8%, sequentially. The increase was driven by higher volume across all four segments.

Compared to the same quarter last year, revenue was flat, driven by higher volume in Oilfield Services, offset by Oilfield Equipment and Turbomachinery & Process Solutions.

Consolidated Operating Income by Reporting Segment

On a GAAP basis, operating income for the fourth quarter of 2021 was $574 million. Operating income increased $196 million sequentially and increased $393 million year-over-year. Total segment operating income was $676 million for the fourth quarter of 2021, up 33% sequentially and up 18% year-over-year.

Adjusted operating income (a non-GAAP measure) for the fourth quarter of 2021 was $571 million, which excludes adjustments totaling $3 million before tax, mainly related to restructuring and separation activities. A complete list of the adjusting items and associated reconciliation from GAAP has been provided in Table 1a in the section entitled “Reconciliation of GAAP to non-GAAP Financial Measures.” Adjusted operating income for the fourth quarter of 2021 was up 42% sequentially, driven by higher volume and margin expansion across all segments. Adjusted operating income was up 23% year-over-year driven by margin expansion in Oilfield Services, Turbomachinery and Process Solutions, and Oilfield Equipment, partially offset by margin contraction in Digital Solutions.

Depreciation and amortization for the fourth quarter of 2021 was $273 million.

Adjusted EBITDA (a non-GAAP measure) for the fourth quarter of 2021 was $844 million which excludes adjustments totaling $3 million before tax, mainly related to restructuring and separation related activities. Adjusted EBITDA for the fourth quarter was up 27% sequentially and up 10% year-over-year.

Corporate costs were $106 million in the fourth quarter of 2021, flat sequentially and down 5% year-over-year.

Other Financial Items

Income tax expense in the fourth quarter of 2021 was $352 million. Income tax expense includes $103 million in charges that are recoverable as they related to liabilities indemnified under the Tax Matters Agreement with General Electric. These tax charges have an offsetting income in the other non-operating income line of our income statement.

Other non-operating income in the fourth quarter of 2021 was $208 million. Included in other non-operating income are gains from the change in fair value of our investment in ADNOC Drilling, and losses from the change in fair value of our investment in C3 AI.

GAAP diluted earnings per share was $0.32. Adjusted earnings per share was $0.25. Excluded from adjusted earnings per share were all items listed in Table 1a in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures" as well as the "other adjustments (non-operating)" found in Table 1c.

Cash flows generated from operating activities were $773 million for the fourth quarter of 2021. Free cash flow (a non-GAAP measure) for the quarter was $645 million. A reconciliation from GAAP has been provided in Table 1d in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures."

Capital expenditures, net of proceeds from disposal of assets, were $129 million for the fourth quarter of 2021.

Results by Reporting Segment

The following segment discussions and variance explanations are intended to reflect management's view of the relevant comparisons of financial results on a sequential or year-over-year basis, depending on the business dynamics of the reporting segments.

Oilfield Services

Oilfield Services (OFS) revenue of $2,566 million for the fourth quarter increased by $147 million, or 6%, sequentially.

North America revenue was $742 million, up 4% sequentially. International revenue was $1,824 million, an increase of 7% sequentially, led by increases in Sub-Saharan Africa, the North Sea, Russia, Latin America and the Middle East.

Segment operating income before tax for the quarter was $256 million. Operating income for the fourth quarter of 2021 was up $66 million, or 35%, sequentially, driven by higher volume, price, mix and cost productivity.

Oilfield Equipment

Oilfield Equipment (OFE) orders were down $51 million, or 9%, year-over-year, driven primarily by lower order intake in Subsea Production Systems and from the removal of Subsea Drilling Services from consolidated OFE operations, partially offset by higher order intake in Services and Flexibles. Equipment orders were down 26% year-over-year and services orders were up 26% year-over-year.

OFE revenue of $619 million for the quarter decreased $92 million, or 13%, year-over-year. The decrease was driven by lower volume in Subsea Productions Systems and Surface Pressure Control Projects, and from the removal of Subsea Drilling Services from consolidated OFE operations. These decreases were partially offset by higher volume in Services.

Segment operating income before tax for the quarter was $23 million, flat year-over-year. The volume decrease year-over-year was offset by productivity gains.

Turbomachinery & Process Solutions

Turbomachinery & Process Solutions (TPS) orders were up $1,142 million, or 62% year-over-year. Equipment orders were up $1,067 million year-over-year and service orders were up $75 million or 7% year-over-year.

TPS revenue of $1,776 million for the quarter decreased $170 million, or 9%, year-over-year. The decrease was driven by lower equipment and projects revenue, partially offset by higher contractual services volume. Equipment revenue in the quarter represented 41% of total segment revenue, and Services revenue represented 59% of total segment revenue.

Segment operating income before tax for the quarter was $346 million, up $14 million, or 4%, year-over-year. The increase was driven primarily by favorable mix as a result of higher Services revenue.

Digital Solutions

Digital Solutions (DS) orders were up $76 million, or 14% year-over-year, driven by higher order intake in Digital Solutions businesses with the exception of the Nexus Controls business.

DS revenue of $558 million for the quarter increased $2 million, year-over-year, driven by higher volume in the Waygate Technologies, Process & Pipeline Services and Reuter-Stokes businesses, offset by lower volume in the Nexus Controls and Bently Nevada businesses.

Segment operating income before tax for the quarter was $51 million, down $25 million, or 33% year-over-year. The decrease year-over-year was primarily driven by lower cost productivity.

2021 Total Year

Investor Relations
Jud Bailey
+1 281-809-9088
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Media Relations
Thomas Millas
+1 713-879-2862
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SAN ANTONIO--(BUSINESS WIRE)--The Board of Directors of Valero Energy Corporation (NYSE: VLO, “Valero”) has declared a regular quarterly cash dividend on common stock of $0.98 per share. The dividend is payable on March 3, 2022 to holders of record at the close of business on February 3, 2022.

About Valero

Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 500 company based in San Antonio, Texas, and owns 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 12 ethanol plants with a combined production capacity of approximately 1.6 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture member in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel owns North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names. Please visit www.investorvalero.com for more information.

Investors:
Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992

Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002

• NNE is the first West Virginia-based company to achieve independent certification under both the MiQ and Equitable Origin Standard
• Certification includes all of NNE’s West Virginia production
• NNE’s Methane Emissions performance qualifies for an “A” grade

CHARLESTON, W. Va.--(BUSINESS WIRE)--Northeast Natural Energy (NNE) today announces that it has received an “A” grade and achieved certification of its natural gas production under the MiQ standard for methane emissions measurement and management.

NNE is a privately owned company founded in 2009, headquartered in Charleston, W.Va. with operations focused on dry natural gas production in north central West Virginia.

Having begun the process of seeking independent joint certification through Equitable Origin and MiQ in February 2021, NNE became the first U.S. based natural gas producer to achieve EO100™ certification in November, 2021.

“We recognize the need for transparency in our operations and embrace the accountability that comes with monitoring and limiting our methane emissions. We are proud to be a leader in certified natural gas production in the Appalachian basin,” said Mike John, Northeast Natural Energy CEO. “The MiQ certification validates the work we do in the field and the effort we are making to manage our methane and greenhouse gas emissions.”

MiQ, a non-profit partnership between RMI and SYSTEMIQ, is pioneering a market-based approach to rapidly reduce methane emissions across the natural gas sector. Its quantitative certification standard – the MiQ Standard – factors in methane intensity, company practices, and methane detection. The MiQ Standard embodies a commitment to transparency, accountability, technology independence, and granularity.

“It’s excellent to see another U.S. producer achieve MiQ Certification. NNE can now use this certification to credibly demonstrate the steps it takes to address methane emissions from its production in the Appalachian basin,” said Georges Tijbosch, CEO, MiQ. “We expect to see the market for MiQ certified gas to expand rapidly over the next 12 months and are looking forward to working with NNE and others to solve the crucial problem of methane emissions.

The MiQ Digital Registry launched last year. It is the global secure digital ledger in which joint MiQ-EO100TM Certificates are held from issuance to retirement. One certificate is issued per MMBtu of certified natural gas. Certificates on the MiQ Digital Registry can be traded bundled (combined with natural gas delivery) or unbundled – increasing the liquidity in the markets for sellers and buyers.

Notes to Editor

About Northeast Natural Energy:

Northeast Natural Energy is a privately owned company founded in 2009 which is headquartered in Charleston, WV with operations focused exclusively on dry natural gas production in north central West Virginia. NNE’s homegrown team of talented professionals are forward thinking and believe hard work and honest and open communications are the key to success in West Virginia. Visit us at northeastnaturalenergy.com.

About MiQ

MiQ is a not-for–profit Foundation established by RMI (formerly the Rocky Mountain Institute), and global sustainability consultancy SYSTEMIQ. MiQ is pioneering a market-based approach to rapidly reduce methane emissions across the global natural gas sector.

MiQ Certification will, for the first time, credibly differentiate gas based on its methane emissions performance to provide a market mechanism that incentivizes methane reduction. MiQ’s vision is to create a market where certified natural gas can be traded like other historical commodities ultimately creating incentives to drive down methane emissions across the board. MiQ has announced partnerships to certify natural gas with ExxonMobil, BP, Chesapeake, NNE, and Comstock Resources.

NNE, Matt Sheppard
+1 717-675-0264

HOUSTON--(BUSINESS WIRE)--VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the fourth quarterly payment period ended December 31, 2021.

Unitholders of record on February 1, 2022 will receive a distribution amounting to $4,250,000 or $0.25 per unit, payable February 14, 2022.

Volumes, average sales prices and net profits for the payment period were:

As previously disclosed, in November 2021, the Trustee notified VOC Brazos Energy Partners, L.P. (“VOC Brazos”) that the Trustee intends to build a reserve for the payment of future known, anticipated or contingent expenses or liabilities, commencing with the distribution payable in the first quarter of 2022. The Trustee intends to withhold a portion of the proceeds otherwise available for distribution each quarter to gradually build a cash reserve to approximately $1.175 million. This amount is in addition to the letter of credit in the amount of $1.7 million provided to the Trustee by VOC Brazos to protect the Trust against the risk that it does not have sufficient cash to pay future expenses. The Trustee may increase or decrease the targeted amount at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the Trust Agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities eventually will be distributed to unitholders, together with interest earned on the funds. The Trustee has elected to withhold $182,917 from the proceeds otherwise available for distribution this quarter.

This press release contains forward-looking statements. Although VOC Brazos has advised the Trust that VOC Brazos believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended December 31, 2021. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, the effect, impact, potential duration or other implications of the COVID-19 pandemic, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.

VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rogers
(713) 483-6020

ATHENS, Greece--(BUSINESS WIRE)--Danaos Corporation (“Danaos”) (NYSE: DAC), one of the world’s largest independent owners of containerships, announced today that Mr. Evangelos Chatzis, Chief Financial Officer and Mr. Filippos Prokopakis, Commercial Director, it will participate in Capital Link’s Company Presentation Series.

On Monday, January 24^th, 2022, at 11:00 am EST its senior management team will go through a presentation on the company's current operations, business development, growth prospects and outlook of the tanker sector.

You can register for the webinar below:
Date: Monday, January 24^th, 2022
Time: 11:00 am EST
Register: https://webinars.capitallink.com/2022/company_presentation/

On the registration page, please register for the presentation slated for January 24^th, 2022, at 11 am ET.

An email confirmation will be sent back and will include the link to the Company presentation.

LIVE Q&A SESSION - Submitting Questions

Participants can submit their questions either during the webinar through the online platform or can email our team at This email address is being protected from spambots. You need JavaScript enabled to view it..

1x1 MEETINGS WITH COMPANY MANAGEMENT

Institutional Investors can request follow up meeting(s) with Danaos’ management through the 1x1 Meetings Section on the Registration Page or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

About Danaos Corporation

Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our current fleet of 71 containerships aggregating 436,589 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world's largest liner companies on fixed-rate charters. Our long track record of success is predicated on our efficient and rigorous operational standards and environmental controls. Danaos Corporation's shares trade on the New York Stock Exchange under the symbol "DAC".

Evangelos Chatzis
Chief Financial Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6480
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Iraklis Prokopakis
Senior Vice President and Chief Operating Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6400
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations and Financial Media
Rose & Company
New York
Tel. 212-359-2228
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (PARIS:FTI) will issue its fourth quarter 2021 earnings release after the close of the New York Stock Exchange on Wednesday, February 23, 2022. The Company will also host its fourth quarter 2021 earnings conference call on Thursday, February 24, 2022, at 1 p.m. London time (8 a.m. New York time).

The event will be webcast live and can be accessed through the TechnipFMC website (investors.technipfmc.com) or at https://edge.media-server.com/mmc/p/srjguomx.

An archived version will be available on the website following the webcast.

About TechnipFMC

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

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

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

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

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

Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Catie Tuley
Director, Public Relations
Tel: +1 281 591 5405
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Gas Separation Membranes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Gas Separation Membranes Market to Reach US$1.1 Billion by the Year 2026

The global market for gas separation membranes is anticipated to receive a notable impetus from increasing adoption of the technology across an extensive spectrum of industries coupled with rising biogas production. Traditional separation technologies` negative impact on the environment and high energy costs are anticipated to spur demand for gas separation membranes in different applications.

Demand for these membranes is also on the rise due to the lower maintenance and operational costs of this gas separation process. Stringent regulations related to greenhouse gas emissions and increasing demand from natural gas treatment, hydrocarbon separation, hydrogen purification and carbon dioxide captures are stimulating the market growth.

Increasing biogas production across developing countries, particularly in Asia and Latin America, along with cost-efficiency of the technique is further favoring the market growth. The presence of numerous reservoirs across South East Asian nations and rising production of shale gas across North America are set to fuel global demand for gas separation membranes.

The technology is widely employed in the oil & gas and chemical industries to remove volatile organic compounds from the waste stream, natural gas dehydration, and separation of air into nitrogen and oxygen. In addition, consumer demand for green, organic fuels is benefitting the technology.

Amid the COVID-19 crisis, the global market for Gas Separation Membranes estimated at US$822.1 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2026, growing at a CAGR of 5.6% over the analysis period 2020-2027.

Polyimide & Polyaramide, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$583.6 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polysulfone segment is readjusted to a revised 5.1% CAGR for the next 7-year period.

This segment currently accounts for a 25.5% share of the global Gas Separation Membranes market. Polyimide and polyaramide has been widely employed in membrane production for separation of gas, especially for natural gas upgradation and extraction of CO2 from industrial off-gases.

Owing to low production cost and easy fraction, it is generally used in CO2 recovery during natural gas sweetening, separation of nitrogen and oxygen from air, and oil recovery.

Cellulose Acetate Segment to Reach $219.2 Million by 2026

Made of different polymers including cellulose acetate, gas separation membranes find use in carbon dioxide removal, hydrogen recovery, oxygen enrichment and nitrogen generation applications.

In H2S separation process, cellulose acetate is one of the most widely material in membrane separation processes. In the global Cellulose Acetate segment, USA, Canada, Japan, China and Europe will drive the 4.74% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$106.6 Million in the year 2020 will reach a projected size of US$151 Million by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$31 Million by the year 2026, while Latin America will expand at a 6.2% CAGR through the analysis period.

The U.S. Market is Estimated at $171.2 Million in 2021, While China is Forecast to Reach $227.9 Million by 2026

The Gas Separation Membranes market in the U.S. is estimated at US$171.2 Million in the year 2021. The country currently accounts for a 20.13% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$227.9 Million in the year 2026 trailing a CAGR of 7.5% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$245.2 Million by the end of the analysis period.

Asia-Pacific represents key regional market for gas separation membrane. Growth in the region is benefitting from increasing population, rapid urbanization and industrialization, rising international trade and infrastructure development in countries like Japan, China and India. Rising focus on CO2 removal and growing biogas demand in countries such as Indonesia, China, India, and South Korea are expected to stimulate market growth.

European region benefits from extensive use of these membranes to separate acid gases in natural gas processing facilities. The gas separation membrane technology is expected to find increasing use in medical and pharmaceutical applications, environmental issues and growth of the end-use industries.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Gas Separation Membranes: An Introduction
• COVID-19 Impact on Membrane Separation Technologies Market
• COVID-19 Impact on Gas Separation Membranes Market
• Global Market Prospects and Outlook
• Robust Demand from Diverse Industrial Applications Spurs Growth of Gas Separation Membrane Market
• Carbon Dioxide Removal: The Leading Application Segment
• Polymeric Membranes Continue to Capture Significant Market Share
• Asia-Pacific Poised to Drive Market Growth, Europe and US Hold Significant Share
• Competition
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS (Total 47 Featured)

• Air Liquide SA
• Air Products and Chemicals, Inc.
• DIC Corporation
• Evonik Industries AG
• FUJIFILM Manufacturing Europe B.V.
• GENERON IGS, Inc.
• Honeywell UOP
• Membrane Technology and Research, Inc.
• Parker-Hannifin Corporation
• Schlumberger Ltd.
• Ube Industries, Ltd.
• UGS LLC

3. MARKET TRENDS & DRIVERS

• Market Benefits from the Escalating Demand for Membrane Separation Technology in Various End-Use Applications
• Impact of COVID-19 on Natural Gas Consumption Hampers Gas Separation Membrane Market
• With Consumption of Natural Gas to Grow Post COVID-19, Demand to Rise for Membranes Use to Separate or Remove CO2 from Natural Gas
• Evonik Unveils High-Performance Membrane for Natural Gas Processing
• Rising Significance of Membrane-based CO2 Capture Technologies
• Fixed-Site-Carrier (FSC) Membranes and Mixed Matrix Membranes (MMMs) for Gas Separation
• Ongoing Advancements to Improve Competitiveness of Membrane Process for CO2 Separation
• COVID-19 Impact on Biogas Production Hinders Market Growth
• Rapidly Growing Demand for Biogas Augurs Well for Gas Separation Membranes Market
• Demand for Membrane Separation Technology Rises in Syngas Cleaning
• Application of Membrane Technology in Nitrogen Generation
• Significant Role of Gas Separation Membrane Technology in Reducing Environmental Impact of Industrial Processes
• Growing Use of Polymeric Gas-Separation Membranes in Petroleum Refining Application
• Petroleum Industry Processes with Use of Membrane Technology
• Membrane Materials Used for Gas Separation Processes in Refineries: A Review
• Mixed Matrix Membranes Present Considerable Growth Opportunities for the Market
• Graphene Oxide Membranes to Break Existing Gas Separation Performance Barrier
• Technological Advancements to Bolster Market Prospects
• Zeolitic Nanosheets Enhance Gas Separation Membranes' Fabrication
• Polyphosphazene Membranes Demonstrate Significant Throughput and Selectivity for CO2

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/k7cvb8

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--Regulatory News:

TechnipFMC (NYSE:FTI) (PARIS:FTI) will issue its fourth quarter 2021 earnings release after the close of the New York Stock Exchange on Wednesday, February 23, 2022. The Company will also host its fourth quarter 2021 earnings conference call on Thursday, February 24, 2022, at 1 p.m. London time (8 a.m. New York time).

The event will be webcast live and can be accessed through the TechnipFMC website (investors.technipfmc.com) or at https://edge.media-server.com/mmc/p/srjguomx.

An archived version will be available on the website following the webcast.

About TechnipFMC

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

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

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

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

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

Category: UK regulatory

Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Catie Tuley
Director, Public Relations
Tel: +1 281 591 5405
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

BURLINGTON, Ontario & TREVIGLIO, Italy--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) signed a contract to supply its industry-leading organic waste treatment solutions to Societa’ Agricola Agriferr ss di Zagni Matteo & C (Agriferr), an agricultural industry company based in Rivarolo del Re Ed Uniti, Cremona, Italy.

Anaergia will build Agriferr’s new plant using a range of proprietary systems, including the Company’s first-ever renewable natural gas liquefaction system. Anaergia will also install its Triton™ digester, biogas upgrading system, and an on-site fueling station for end users. Under the terms of this agreement, Anaergia is to build and then operate this plant for a period of four years. This facility, which is expected to produce about 2,000 tons of liquid natural gas (LNG) annually, is slated to begin operations by the end of 2022.

“This is an important milestone for both Anaergia and Agriferr,” said Alessandro Massone, Anaergia’s President of Sales for Europe, the Middle East and Africa. “This underscores Anaergia’s strong market position in Italy while it provides Agriferr with the world’s best integrated approach for producing value from agricultural wastes.”

“Italy is a European leader in the adoption of renewable energy, and an increasingly important market for Anaergia,” noted Andrew Benedek, Anaergia’s Chairman and CEO. “Furthermore, this project is especially notable because it marks Anaergia’s first sale of a system that will produce renewable LNG at a time when there is fast growing demand across Europe for this vital commodity. We expect to see follow-up demand for this integrated solution in Italy as well as in a range of other European countries.”

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.

­­Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

For further information please see: www.anaergia.com

For media relations please contact: Melissa Bailey, Director, Marketing & Corporate Communications, This email address is being protected from spambots. You need JavaScript enabled to view it.
For investor relations please contact: This email address is being protected from spambots. You need JavaScript enabled to view it.