HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Shell Enterprises LLC’s prolific Delaware basin position for $9.5 billion in cash. After customary closing adjustments, cash paid for the acquisition is approximately $8.6 billion, with an effective date of July 1, 2021. The assets include ~225,000 net acres and producing properties located entirely in Texas, as well as over 600 miles of operated crude, gas and water pipelines and infrastructure. Estimated 2022 production from these assets is expected to be approximately 200 MBOED, roughly half of which is operated.

“This deal was justified on three key merits: it meets our rigorous cost of supply framework, we see a way to drive efficiencies from the assets, and the transaction makes our 10-year plan better,” said Ryan Lance, chairman and chief executive officer. “We believe the addition of these high-quality assets improves our underlying business drivers, expands our cash from operations, enhances our ability to deliver higher returns on and of capital, and lowers our average GHG intensity.”

Lance continued, “The completion of this acquisition caps off an exceptional year and significantly strengthens our company as we head into 2022. We welcome a new group of employees and look forward to integrating these properties into our Permian business and realizing the full potential of this transaction.”

-- # # # ---

About ConocoPhillips

Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 14 countries, $87 billion of total assets, and approximately 9,900 employees at Sept. 30, 2021. Production excluding Libya averaged 1,514 MBOED for the nine months ended Sept. 30, 2021, and proved reserves were 4.5 BBOE as of Dec. 31, 2020. For more information, go to www.conocophillips.com.

Forward-Looking Statements

This news release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events, plans and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as “anticipate," “estimate,” “believe,” “budget,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict," “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include the impact of public health crises, including pandemics (such as COVID-19) and epidemics and any related company or government policies or actions; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including changes resulting from a public health crisis or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; changes in commodity prices, including a prolonged decline in these prices relative to historical or future expected levels; changes in expected levels of oil and gas reserves or production; potential failures or delays in achieving expected reserve or production levels from existing and future oil and gas developments, including due to operating hazards, drilling risks or unsuccessful exploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for our oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of our business; our ability to collect payments when due under our settlement agreement with PDVSA; our ability to collect payments from the government of Venezuela as ordered by the ICSID; our ability to liquidate the common stock issued to us by Cenovus Energy Inc. at prices we deem acceptable, or at all; our ability to complete any announced or any future dispositions or acquisitions on time, if at all; the possibility that regulatory approvals for any announced or any future dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of the transactions or our remaining business; business disruptions during or following the acquisition of assets from Shell (the “Shell Acquisition”) or any other announced or any future dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from our announced or any future dispositions in the manner and timeframe we anticipate, if at all; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation, including litigation related to our transaction with Concho Resources Inc. (Concho); the impact of competition and consolidation in the oil and gas industry; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions; the ability to successfully integrate the assets from the Shell Acquisition or achieve the anticipated benefits from the transaction; the ability to successfully integrate the operations of Concho with our operations and achieve the anticipated benefits from the transaction; unanticipated difficulties or expenditures relating to the Shell Acquisition or the Concho transaction; changes in fiscal regime or tax, environmental and other laws applicable to our business; and disruptions resulting from extraordinary weather events, civil unrest, war, terrorism or a cyber attack; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Dennis Nuss (media)
281-293-4733
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Investor Relations
281-293-5000
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OVERLAND PARK, Kan.--(BUSINESS WIRE)--Tortoise today announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP and TPZ.

Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as of November 30, 2021, the company’s unaudited total assets were approximately $564.4 million and its unaudited net asset value was $412.9 million, or $34.61 per share.

As of November 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 532%, and its coverage ratio for preferred shares was 405%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.

Set forth below is a summary of the company’s unaudited preliminary balance sheet at November 30, 2021.

Unaudited preliminary balance sheet

11.93 million common shares currently outstanding.

Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) today announced that as of November 30, 2021, the company’s unaudited total assets were approximately $278.2 million and its unaudited net asset value was $210.1 million, or $37.22 per share.

As of November 30 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 563%, and its coverage ratio for preferred shares was 449%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.

Set forth below is a summary of the company’s unaudited preliminary balance sheet at November 30, 2021.

Unaudited preliminary balance sheet

5.64 million common shares currently outstanding.

Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today announced that as of November 30, 2021, the company’s unaudited total assets were approximately $81.0 million and its unaudited net asset value was $62.3 million, or $27.96 per share.

As of November 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 668%, and its coverage ratio for preferred shares was 443%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.

Set forth below is a summary of the company’s unaudited preliminary balance sheet at November 30, 2021.

Unaudited preliminary balance sheet

2.23 million common shares currently outstanding.

Tortoise Energy Independence Fund, Inc. (NYSE: NDP) today announced that as of November 30, 2021, the company’s unaudited total assets were approximately $51.1 million and its unaudited net asset value was $46.4 million, or $25.13 per share.

As of November 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 1,684%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.

Set forth below is a summary of the company’s unaudited preliminary balance sheet at November 30, 2021.

Unaudited preliminary balance sheet

1.85 million common shares currently outstanding.

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today announced that as of November 30, 2021, the company’s unaudited total assets were approximately $123.0 million and its unaudited net asset value was $98.5 million, or $15.09 per share.

As of November 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 510%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.

Set forth below is a summary of the company’s unaudited preliminary balance sheet at November 30, 2021.

Unaudited preliminary balance sheet

6.53 million common shares currently outstanding.

The top 10 holdings for TYG, NTG, TTP, NDP and TPZ as of the most recent month-end can be found on each fund’s portfolio web page at https://cef.tortoiseecofin.com.

About Tortoise

Tortoise focuses on energy & power infrastructure and the transition to cleaner energy. Tortoise’s solid track record of energy value chain investment experience and research dates back more than 20 years. As one of the earliest investors in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit www.TortoiseEcofin.com.

Tortoise Capital Advisors, L.L.C. is the adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc.

For additional information on these funds, please visit cef.tortoiseecofin.com.

Safe harbor statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.

For more information contact:
Maggie Zastrow, (913) 981-1020
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EL DORADO, Ark.--(BUSINESS WIRE)--The Board of Directors of Murphy USA Inc. (NYSE: MUSA) recently authorized a new share repurchase authorization of up to $1 billion to begin upon completion of the current $500 million authorization and to be executed by December 31, 2026. The new authorization is a continuation of the company’s updated capital allocation strategy, which was announced in October 2020, and reaffirms the company’s commitment to supplement organic growth initiatives with shareholder distributions, including our recently announced dividend growth plan, to maximize value creation over time.

“In light of Murphy USA’s robust operating performance and ability to generate free cash flow on top of accelerated organic growth, we are pleased to reaffirm this piece of our value creation formula,” said President and CEO Andrew Clyde. “Given that we are on track to execute the previously announced $500 million program nearly two years early, this new authorization is a testament to our advantaged business model and increasing confidence in the future of our company. This timeframe provides management added flexibility over a five-year window to prioritize high impact organic growth, while providing optionality around execution and preserving prudent liquidity.”

The timing and amount of any shares repurchased will be determined by the Company’s management based on its evaluation of market conditions and other factors. Repurchases may be conducted through open market transactions, privately negotiated transactions, pursuant to accelerated share repurchase programs, or otherwise. The repurchase program may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with the Company’s stock plans and for other corporate purposes.

About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 322 among Fortune 500 companies.

Forward-Looking Statements
Certain statements in this news release contain or may suggest “forward-looking” information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risk and uncertainties, including, but not limited to our M&A activity, anticipated store openings, fuel margins, merchandise margins, sales of RINs, trends in the Company’s operations, dividends and share repurchases. Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual future results may differ materially from historical results or current expectations depending upon factors including, but not limited to: the Company’s ability to realize projected synergies from the acquisition of QuickChek and successfully expand our food and beverage offerings; the Company’s ability to continue to maintain a good business relationship with Walmart; successful execution of the Company’s growth strategy, including the Company’s ability to realize the anticipated benefits from such growth initiatives, and the timely completion of construction associated with the Company’s newly planned stores which may be impacted by the financial health of third parties; the Company’s ability to effectively manage the Company’s inventory, disruptions in the Company’s supply chain and the Company’s ability to control costs; the impact of severe weather events, such as hurricanes, floods and earthquakes; the impact of a global health pandemic, such as COVID-19, including the impact on the Company’s fuel volumes if the gradual recoveries experienced throughout 2020 and 2021 stall or reverse as a result of any resurgence in COVID-19 infection rates and government reaction in response thereof; the impact of any systems failures, cybersecurity and/or security breaches of the company or its vendor partners, including any security breach that results in theft, transfer or unauthorized disclosure of customer, employee or company information or the Company’s compliance with information security and privacy laws and regulations in the event of such an incident; successful execution of the Company’s information technology strategy; reduced demand for our products due to the implementation of more stringent fuel economy and greenhouse gas reduction requirements, or increasingly widespread adoption of electric vehicle technology; future tobacco or e-cigarette legislation and any other efforts that make purchasing tobacco products more costly or difficult could hurt the Company’s revenues and impact gross margins; changes to the Company’s capital allocation, including the timing, declaration, amount and payment of any future dividends or levels of the Company’s share repurchases, or management of operating cash; the market price of the Company’s stock prevailing from time to time, the nature of other investment opportunities presented to the Company from time to time, the Company’s cash flows from operations, and general economic conditions; compliance with debt covenants; availability and cost of credit; and changes in interest rates. Murphy USA’s SEC reports, including its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, contain other information on these and other factors that could affect our financial results and cause actual results to differ materially from any forward-looking information we may provide. Murphy USA undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
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Mitchell Freer – Investor Relations Analyst
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OVERLAND PARK, Kan.--(BUSINESS WIRE)--The following unaudited balance sheet information and asset coverage ratio update is provided for Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF).

As of November 30, 2021, the company’s unaudited total assets were approximately $258.0 million and its unaudited net asset value was $232.6 million, or $17.24 per share.

As of November 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 1,177%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.

Set forth below is a summary of the company’s unaudited preliminary balance sheet at November 30, 2021.

Unaudited preliminary balance sheet

The top 10 holdings for TEAF as of the most recent month-end can be found on the fund’s portfolio web page at cef.ecofininvest.com/funds/teaf.

For additional information on this fund, please visit cef.ecofininvest.com.

TCA Advisors is the adviser to Ecofin Sustainable and Social Impact Term Fund and Ecofin Advisors Limited is the fund’s sub-adviser.

Safe harbor statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the fund and TCA believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the fund and TCA do not assume a duty to update this forward-looking statement.

For more information contact:
Maggie Zastrow, (913) 981-1020
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• Continued discipline with capital at low end of 2022-2025 guidance
• Raises share buyback guidance range to $3 to $5 billion per year

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today announced a 2022 organic capital and exploratory spending program of $15 billion, at the low end of its $15 to $17 billion guidance range and up more than 20% from 2021 expected levels. This capital program supports Chevron’s objective of higher returns and lower carbon, including approximately $800 million in lower carbon spending. The program excludes expected inorganic capital of $600 million in anticipation of the formation of a renewable fuel feedstocks joint venture with Bunge.

“The 2022 capital budget reflects Chevron’s enduring commitment to capital discipline,” said Chevron Chairman and CEO Mike Wirth. “We’re sizing our capital program at a level consistent with plans to sustain and grow the company as the global economy continues to recover.”

Consistent with its track record of returning excess cash to shareholders, the company is raising its share buyback guidance range to $3 to $5 billion per year, versus prior guidance of $2 to $3 billion per year. “We’re a better company than we were just a few years ago. We’re more capital and cost efficient, guided by a clear and consistent objective to deliver higher returns and lower carbon,” Wirth continued. “And this enables us to return more cash to shareholders.”

Details of the 2022 Organic Capital and Exploratory Investment Program include:

Upstream

In the upstream business, approximately $8 billion is allocated to currently producing assets, including about $3 billion for Permian Basin unconventional development and approximately $1.5 billion for other shale & tight assets worldwide. Additionally, $3 billion of the upstream program is planned for major capital projects underway, of which about $2 billion is associated with the Future Growth Project and Wellhead Pressure Management Project (FGP / WPMP) at the Tengiz field in Kazakhstan. Finally, approximately $1.5 billion is allocated to exploration, early-stage development projects, midstream activities and carbon reduction opportunities.

Downstream

Approximately $2.3 billion of planned organic capital spending is associated with the company’s downstream businesses that refine, market and transport fuels, and manufacture and distribute lubricants, additives, and petrochemicals. This also includes capital to grow renewable fuels and products businesses.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

NOTICE

As used in this news release, the term “Chevron” and such terms as “the company,” “the corporation,” “our,” “we,” “us” and “its” may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.

Please visit Chevron’s website and Investor Relations page at www.chevron.com and www.chevron.com/investors, LinkedIn: www.linkedin.com/company/chevron, Twitter: @Chevron, Facebook: www.facebook.com/chevron, and Instagram: www.instagram.com/chevron, where Chevron often discloses important information about the company, its business, and its results of operations.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements relating to Chevron’s operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company's products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; development of large carbon capture and offset markets; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company's global supply chain, including supply chain constraints; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.

Sean Comey -- +1 925-842-5509

WEST SACRAMENTO, Calif.--(BUSINESS WIRE)--Origin Materials, Inc. (“Origin,” “Origin Materials,” or the “Company”) (Nasdaq: ORGN, ORGNW), the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, today announced that it will participate in the Credit Suisse Climate Tech and Start-Up Forum, which will be held virtually on December 6^th and 7^th, 2021. In addition to holding one-on-one investor meetings, Origin Co-Founder and Co-CEO John Bissell is scheduled to participate in a panel discussion including other climate-focused innovators on December 7, 2021.

Interested investors and other parties can find additional information relating to these conferences by visiting the Events and Presentations section of the Company’s Investor Relations website at https://investors.originmaterials.com.

About Origin Materials
Headquartered in West Sacramento, Origin Materials is the world's leading carbon negative materials company. Origin’s mission is to enable the world’s transition to sustainable materials. Over the past 10 years, Origin has developed a platform for turning the carbon found in inexpensive, plentiful, non-food biomass such as sustainable wood residues into useful materials while capturing carbon in the process. Origin’s patented technology platform can help revolutionize the production of a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more with a ~$1 trillion addressable market. In addition, Origin’s technology platform is expected to provide stable pricing largely decoupled from the petroleum supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues. Origin’s patented drop-in core technology, economics and carbon impact are supported by a growing list of major global customers and investors.

For more information, visit www.originmaterials.com.

Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Origin Materials’ business strategy, estimated total addressable market, commercial and operating plans and product development plans. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Origin Materials and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Origin Materials. These forward-looking statements are subject to a number of risks and uncertainties, including that Origin Materials may be unable to successfully commercialize its products; the effects of competition on Origin Materials’ business; disruptions and other impacts to Origin Materials’ business as a result of the COVID-19 pandemic and other global health or economic crises; changes in customer demand; and those factors discussed in the Quarterly Report on Form 10-Q filed with the SEC on November 12, 2021 under the heading “Risk Factors,” and other documents Origin Materials has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Origin Materials presently does not know, or that Origin Materials currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Origin Materials’ expectations, plans, or forecasts of future events and views as of the date of this press release. Origin Materials anticipates that subsequent events and developments will cause its assessments to change. However, while Origin Materials may elect to update these forward-looking statements at some point in the future, Origin Materials specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Origin Materials’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Investors: This email address is being protected from spambots. You need JavaScript enabled to view it.

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OVERLAND PARK, Kan.--(BUSINESS WIRE)--To assist our shareholders with year-end planning, we are providing estimates of the per-share capital gains for the calendar year 2021. These estimates were prepared using capital gain amounts as of October 31, 2021. The estimates are being provided for informational purposes only and may not include all required tax adjustments. Please keep in mind that the following amounts are estimates and subject to change. The final amounts will be reported to you on Form 1099-DIV, which will be mailed in early 2022.

Nothing contained in this communication constitutes tax, legal, or investment advice. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation.

About Ecofin

Ecofin is a sustainable investment firm dedicated to uniting ecology and finance. Our mission is to generate strong risk-adjusted returns while optimizing investors’ impact on society. We are socially-minded, ESG-attentive investors, harnessing years of expertise investing in sustainable infrastructure, energy transition, clean water & environment and social impact. Our strategies are accessible through a variety of investment solutions and seek to achieve positive impacts that align with UN Sustainable Development Goals by addressing pressing global issues surrounding climate action, clean energy, water, education, healthcare and sustainable communities. Ecofin Investments, LLC is the parent of registered investment advisers Ecofin Advisors, LLC and Ecofin Advisors Limited (collectively "Ecofin"). To learn more, please visit www.ecofininvest.com.

Before investing in the fund, investors should consider their investment goals, time horizons and risk tolerance. The fund's investment objective, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus (click here) contain this and other important information about the fund. Copies of the fund's prospectus may be obtained by calling 855-TCA-FUND. Read it carefully before investing.

Investing involves risks. Principal loss is possible. The fund is suitable only for investors who can bear the risks associated with the limited liquidity of the fund and should be viewed as a long-term investment.

TCA Advisors is the adviser to the fund and Ecofin Advisors, LLC is the sub-adviser.

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This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and TCA Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and TCA Advisors do not assume a duty to update this forward-looking statement.

Maggie Zastrow, (913) 981-1020
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• Essentium is transforming the future landscape of both supply chains and manufacturing through sustainable solutions across multiple global industries
• Essentium’s sustainable manufacturing solution eliminates over 70% of waste versus traditional manufacturing; on-site printing reduces heavy logistics requirement and limits carbon footprint
• Marquee global customer base includes the U.S. Department of Defense (“DoD”), which offers a $20 billion revenue opportunity alone¹ out of an immediate total addressable market (“TAM”) of $209 billion
• Essentium’s growing pipeline of more than 280 customers comprises approximately $3.4 billion in revenue opportunity
• Highly advanced technology backed by an extensive intellectual property (“IP”) portfolio of more than 150 patents to date
• Existing Essentium shareholders, including BASF SE (“BASF”), the world's largest chemical producer, are rolling over 100% of their equity into the combined company
• The combined company is expected to have an implied pro forma enterprise value of $974 million, including $346 million in cash on the balance sheet following the transaction, assuming no redemptions and net of transaction expenses. All proceeds are expected to primarily fund organic growth initiatives
• The transaction includes $345 million cash held in trust by Atlantic Coastal as well as a fully committed common stock PIPE of over $40 million anchored by strategic and institutional investors including BASF, Atalaya Capital Management LP (“Atalaya”) and Apeiron Investment Group (“Apeiron”), the private investment firm of entrepreneur and investor Christian Angermayer
• The transaction also includes a commitment by an affiliate of Atalaya to co-tender for up to 10 million shares from redeeming stockholders at closing, and a forward purchase agreement by Atlantic Coastal for the same amount of shares
• Transaction is expected to close around the end of the first quarter of 2022 and the combined company anticipates being listed on the Nasdaq under the ticker symbol “ADTV”
• An investor webcast is scheduled for Wednesday, December 1, 2021 at 8:00 am EST

AUSTIN, Texas & NEW YORK--(BUSINESS WIRE)--Essentium, Inc. (“Essentium” or the “Company”), a leading innovator of industrial additive manufacturing solutions, announced today that it has entered into a definitive business combination agreement with Atlantic Coastal Acquisition Corporation (NASDAQ: ACAH) (“Atlantic Coastal”). Upon completion of the transaction, which is expected to occur around the end of the first quarter of 2022, the combined company will retain the Essentium name and is expected to be traded on The Nasdaq Stock Market, LLC (“Nasdaq”) under the new ticker symbol “ADTV”.

Founded in 2013, Essentium is an advanced manufacturing ecosystem provider that develops industrial 3D printing solutions across systems, materials, software, and services to enable a new distributed and sustainable manufacturing footprint. The Company’s ecosystem cost-effectively addresses full-scale production runs, producing parts that can match the strength of injection molding at a very low total cost of ownership (“TCO”) compared to industry peers. Essentium’s ability to create high quality parts using best-in-class printing speeds, all while maintaining a disruptive TCO, has enabled the Company to unlock substantial value for additive manufacturing applications.

“Essentium is transforming the future landscape of supply chains by delivering truly distributed, sustainable manufacturing and operating solutions within all contexts including the ability to operate successfully in contested logistics environments,” Blake Teipel, Ph.D., Chief Executive Officer of Essentium, said. “Fundamental deficits in our existing global supply chain models are being exacerbated by escalating obstacles such as trade imbalances and the global pandemic – all leading to protracted distribution bottlenecks. Today’s announcement represents a major milestone in our efforts to provide long-term, sustainable solutions for a new manufacturing paradigm that can meet these global challenges head-on. Essentium’s solution deploys regional, distributed production capabilities to enable supply chain transparency, and flexible inventory management at a highly competitive TCO, all while reducing waste and supporting a limited carbon footprint through on-site printing.”

“We launched Atlantic Coastal with an ESG-centric focus and a mandate to partner with a company that will transform the nature of international commerce, and we believe that Essentium, with its potential to change the global supply chain, is exactly that partner,” said Shahraab Ahmad, Chairman and Chief Executive Officer of Atlantic Coastal. “Blake and his experienced team have developed a deep technology moat, a product ecosystem validated by the DoD, and a razor/razor-blade model that delivers significant recurring revenue, supporting gross margin expansion and highly attractive unit economics.”

“We believe that following this transaction, Essentium will be extremely well-positioned for rapid growth as it further expands its ecosystem offerings, capitalizes on its line-of-sight sales pipeline, and executes on its M&A strategy as it continues to advance additive manufacturing as a public company,” said Tony Eisenberg, Chief Strategy Officer of Atlantic Coastal Acquisition Corp.

Christian Angermayer, advisor to Atlantic Coastal Acquisition Corp, added, “I am excited to be an investor in Essentium which will revolutionize additive manufacturing through its proprietary platform. They are driving transformative changes to the global supply chain and I look forward to seeing their growth as a public company.”

Essentium Investment Highlights

• Highly advanced technology includes Essentium’s line of High Speed Extrusion (HSE™) 3D Printing Platforms, which are 5 to 15 times faster compared to incumbent extrusion additive manufacturing systems; Essentium’s transformational data capture abilities enable real-time capture of critical parameters via high-fidelity data streams at a rate that is on average 14 times faster per variable than traditional additive manufacturing
• Currently serves a $209 billion TAM by meeting a range of commercial and mission critical use cases for its global machine tooling, jigs, fixtures, and thermoplastics offering, as well as relevant DoD applications
• Marquee customer base that includes the U.S. DoD, Lockheed Martin Corporation and Ford Motor Company (“Ford”), among other aerospace and defense, government, and blue-chip industrial customers
• Extensive IP portfolio across polymer and metal systems, processes, and materials, with more than 150 patents to date
• Highly experienced management team with deep material science and supply chain backgrounds

Continuing to innovate beyond its lineup of polymer- and polymer-composite solutions, including its FlashFuse™ technology, Essentium is developing a suite of metal-additive systems designed to offer unique metallurgies and advanced microstructures for applications with demanding structural integrity. Essentium’s investment in metal additive solutions and new investment in digital manufacturing initiatives is expected to carve out incremental market opportunities for an all-in estimated $318 billion TAM.

Following the closing of the proposed transaction, Essentium will continue to be led by its existing management team including Dr. Blake Teipel, Chief Operating Officer Lars Uffhausen, and Interim Chief Financial Officer Jonathan Bailiff, and by an experienced Board of Directors including Burt Jordan, President of Atlantic Coastal Acquisition Corp. and a former executive at Ford.

Transaction Overview

The proposed business combination values the combined company at a $974 million pro forma enterprise value, at a price of $10.00 per share and assuming no redemptions by Atlantic Coastal shareholders, offering an attractive valuation of 4.6x Essentium’s projected 2023E Revenue of $212 million. The proposed transaction is expected to deliver up to $346 million of net proceeds to the Company, assuming no redemptions and net of transaction expenses, including a fully committed common stock PIPE of over $40 million at $10.00 per share led by institutional and strategic investors including BASF, Atalaya and Apeiron. Atlantic Coastal’s management team is also contributing $20 million to the PIPE.

Existing Essentium shareholders will roll over 100% of their equity into the combined company. Following the closing of the transaction, these shareholders are expected to hold approximately 64% of the issued and outstanding shares of common stock.

Atlantic Coastal and ACM ARRT VII C LLC, an affiliate of Atalaya, have agreed to conduct a joint tender offer for the shares held by Atlantic Coastal stockholders seeking to exercise redemption rights in connection with the closing of the proposed transaction. Subject to certain limitations, Atalaya has agreed to purchase the first 10 million shares tendered by stockholders exercising such redemption rights, while Atlantic Coastal will purchase any shares in excess of 10 million shares tendered for redemption. To the extent that the number of shares tendered by stockholders exercising redemption rights is fewer than 10 million shares, then (a) Atalaya will purchase any shares tendered by stockholders exercising redemption rights plus (b) Atalaya will purchase shares in a PIPE at $10.00 per share in an amount equal to the difference between 10 million shares minus the number of shares purchased by Atalaya in the tender offer. Subject to early settlement or termination under certain circumstances, Atlantic Coastal has agreed to purchase all of the shares acquired by Atalaya in the joint tender offer or PIPE at the redemption price pursuant to a forward purchase agreement, which provides for the purchase of such shares by Atlantic Coastal along with the related settlement of such forward purchase in cash or shares, at Atalaya’s election, occurring two years thereafter.

The boards of directors of both Essentium and Atlantic Coastal have each unanimously approved the proposed business combination, which is expected to be completed around the end of the first quarter of 2022, subject to, among other things, the approval by Atlantic Coastal’s shareholders of the proposed business combination, the concurrent PIPE transaction, satisfaction of the conditions stated in the definitive agreement and other customary closing conditions, including a registration statement on Form S-4 being declared effective by the U.S. Securities and Exchange Commission (the “SEC”), the receipt of certain regulatory approvals, and approval by Nasdaq to list the securities of the combined company.

Advisors

Jefferies is serving as exclusive financial advisor and capital markets advisor to Essentium and Latham & Watkins LLP is serving as legal advisor to Essentium. Moelis & Company LLC is serving as exclusive financial advisor to Atlantic Coastal, Cantor Fitzgerald & Co. is serving as lead capital markets advisor and private placement agent to Atlantic Coastal, BTIG, LLC and Needham & Company are serving as additional capital markets advisors and private placement agents to Atlantic Coastal, Farvahar Capital is serving as additional capital markets advisor to Atlantic Coastal, and Pillsbury Winthrop Shaw Pitman LLP is serving as legal advisor to Atlantic Coastal.

Webcast Information

An investor webcast with slides regarding the proposed merger can be accessed at 8:00 a.m. ET today, December 1, 2021 by visiting https://www.netroadshow.com/nrs/home/#!/?show=79077d65 or by visiting www.netroadshow.com and entering the deal entry code: Essentium7263 (not case-sensitive). This webcast, along with this press release and the investor presentation are available at www.essentium.com.

About Essentium, Inc.

Essentium, Inc. provides industrial 3D printing solutions that are disrupting traditional manufacturing processes by bringing product strength and production speed together, at scale, with a no-compromise engineering material set. Essentium manufactures and delivers innovative industrial 3D printers, materials, software, and services, enabling the world’s top manufacturers to bridge the gap between 3D printing and machining and embrace the future of advanced manufacturing. Essentium is AS9100D certified and ITAR registered. For more information, visit www.essentium.com.

About Atlantic Coastal Acquisition Corp.

Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) is a $345 million special purpose acquisition company focusing on the businesses in the mobility sector. For more information, please visit www.atlanticcoastalacquisition.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed business combination (the “Proposed Business Combination”) between Essentium and Atlantic Coastal, including statements regarding the benefits of the Proposed Business Combination, the anticipated timing of the Proposed Business Combination, the services offered by Essentium and the markets in which it operates, and Essentium’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the Proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of Atlantic Coastal’s securities, (ii) the risk that the acquisition by Essentium, Inc. of each of Compass AC Holdings, Inc. and Whizz Systems, Inc. may not be completed in a timely manner or at all, (iii) the risk that the Proposed Business Combination may not be completed by Atlantic Coastal’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Atlantic Coastal, (iv) the failure to satisfy the conditions to the consummation of the Proposed Business Combination, including the receipt of the requisite approvals of Atlantic Coastal’s shareholders and Essentium’s stockholders, respectively, the satisfaction of the minimum trust account amount following redemptions by Atlantic Coastal’s public shareholders and the receipt of certain governmental and regulatory approvals, (v) the lack of a third party valuation in determining whether or not to pursue the Proposed Business Combination, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the agreement and plan of merger, (vii) the effect of the announcement or pendency of the Proposed Business Combination on Essentium’s business relationships, performance, and business generally, (viii) risks that the Proposed Business Combination disrupts current plans of Essentium and potential difficulties in Essentium employee retention as a result of the Proposed Business Combination, (ix) the outcome of any legal proceedings that may be instituted against Essentium or against Atlantic Coastal related to the agreement and plan of merger or the Proposed Business Combination, (x) the ability to maintain the listing of Atlantic Coastal’s securities on The Nasdaq Stock Market LLC, (xi) the price of Atlantic Coastal’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Essentium plans to operate, variations in performance across competitors, changes in laws and regulations affecting Essentium’s business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the Proposed Business Combination, and identify and realize additional opportunities, (xiii) the impact of the global COVID-19 pandemic, (xiv) the enforceability of Essentium’s intellectual property, including its patents, and the potential infringement on the intellectual property rights of others, cyber security risks or potential breaches of data security, (xv) the ability of Essentium to protect the intellectual property and confidential information of its customers, (xvi) the risk of downturns in the highly competitive additive manufacturing industry, and (xviii) other risks and uncertainties described in Atlantic Coastal’s registration statement on Form S-1 (File No. 333-253003), which was originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 11, 2021 (the “Form S-1”), and its subsequent Quarterly Reports on Form 10-Q. The foregoing list of factors is not exhaustive. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investors as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Form S-1, Quarterly Reports on Form 10-Q, the Registration Statement (as defined below), the proxy statement/prospectus contained therein, and the other documents filed by Atlantic Coastal from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These risks and uncertainties may be amplified by the COVID-19 pandemic, which has caused significant economic uncertainty. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Essentium and Atlantic Coastal assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities and other applicable laws. Neither Essentium nor Atlantic Coastal gives any assurance that either Essentium or Atlantic Coastal, respectively, will achieve its expectations.

Additional Information and Where to Find It

In connection with the Potential Business Combination, Atlantic Coastal will file a registration statement on Form S-4 (the “Registration Statement”) with the SEC, which will include a preliminary proxy statement to be distributed to holders of Atlantic Coastal’s ordinary shares in connection with Atlantic Coastal’s solicitation of proxies for the vote by Atlantic Coastal’s shareholders with respect to the Proposed Business Combination and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of securities to be issued to Essentium stockholders in connection with the Proposed Business Combination. After the Registration Statement has been filed and declared effective, Atlantic Coastal will mail a definitive proxy statement, when available, to its shareholders. The Registration Statement will include information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Atlantic Coastal’s shareholders in connection with the Potential Business Combination. Atlantic Coastal will also file other documents regarding the Proposed Business Combination with the SEC. Before making any voting decision, investors and security holders of Atlantic Coastal and Essentium are urged to read the Registration Statement, the proxy statement/prospectus contained therein, and all other relevant documents filed or that will be filed with the SEC in connection with the Proposed Business Combination as they become available because they will contain important information about the Proposed Business Combination.

Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Atlantic Coastal through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Atlantic Coastal may be obtained free of charge from Atlantic Coastal’s website at www.Atlantic Coastalv.io or by written request to Atlantic Coastal at Atlantic Coastal Acquisition Corp., 6 St Johns Lane, Floor 5, New York, NY 10013.

Participants in the Solicitation

Atlantic Coastal and Essentium and their respective directors and officers may be deemed to be participants in the solicitation of proxies from Atlantic Coastal’s shareholders in connection with the Proposed Business Combination. Information about Atlantic Coastal’s directors and executive officers and their ownership of Atlantic Coastal’s securities is set forth in Atlantic Coastal’s filings with the SEC. To the extent that holdings of Atlantic Coastal’s securities have changed since the amounts printed in the Form S-1, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the Proposed Business Combination may be obtained by reading the proxy statement/prospectus regarding the Proposed Business Combination when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph.

Non-Solicitation

This press release shall not constitute a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Proposed Business Combination. This press release shall also not constitute an offer to sell or a solicitation of an offer to buy any securities of Atlantic Coastal, Essentium or the combined company, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering 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.

¹ United States Department of Defense FY 2022 Budget Request and management estimates; Military Strategic Readiness budget defined as the portion of the overall DoD budget allocated to fund Joint Force strategic military readiness and preparedness through investments in modernizing capabilities across all branches of the Armed Forces.

Essentium Investor Relations
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Essentium Media Relations
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Atlantic Coastal Acquisition Corp.
Tony Eisenberg
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RED DEER, Alberta--(BUSINESS WIRE)--Lee Specialties, Inc. (“Lee”) and Nexus Energy Technologies, Inc. (“Nexus”) today announced that the companies have merged. The combined company, NXL Technologies, Inc. (“NXL”), will create the leading global wireline and coiled tubing pressure control equipment manufacturer, providing sales, rental, service and repair of proprietary blowout preventers, remote well connection devices, accumulators, lubricators, electric-powered wireline skids and ancillary equipment to the energy sector.

“This is the perfect deal at the right time. We could not be more excited to bring together the Nexus and Lee teams to develop a broader global reach, enhance innovation and realize significant growth synergies between the two companies. We’re stronger together and will provide better service to our customers as we bring forth the strengths, diversity, knowledge, and abilities of both organizations. The value this combination also brings to our employees, shareholders, suppliers and the communities in which we operate is immense,” said Ryan Smith, President of Nexus.

“Nexus’ market leading coiled tubing pressure control equipment offering is a great complement to Lee’s wireline pressure control equipment suite. They have an incredible brand and reputation and together we will bring the best new technologies and expand aggressively in international markets to better service our customers,“ stated Chris Oddy, President of Lee.

The combination enables an increased and well-balanced international presence, bringing service locations to markets and customers that need it. NXL will have approximately 125,000 sq.ft. of state-of-the-art manufacturing space in addition to sales, rental, service and repair locations in (i) Houston, Midland and Williston in the United States, (ii) Al Khobar, Saudi Arabia and Ras Al Khaimah, UAE in the Middle East, and (iii) Grande Prairie and Red Deer in Canada. Key distribution relationships in South America, Europe and Asia have also contributed to distribution of NXL’s equipment to more than 50 countries across the world.

Voyager Interests (“Voyager”) invested in Lee in July 2021. David Watson, Managing Partner of Voyager and Chairman of NXL, said, “Nexus and Lee already produce the sector’s most advanced technology, with the Nexus Trident Shear Blades and the Lee Posi Lock as examples. Voyager is thrilled to be a part of this exciting platform going forward, which will include the advancement of automated electric-powered wireline skids that will be on the forefront of customer ESG initiatives in the completion and intervention space. We have many exciting plans.”

ABOUT LEE

Founded in 1995, Lee is a globally recognized manufacturer of wireline pressure control equipment. The company produces proprietary, highly-engineered blowout preventers and other equipment critical for safe and effective well completion and intervention operations through the lifecycle of the well. Learn more online at www.leespecialties.com.

ABOUT NEXUS

Founded in 2006, Nexus is the leading manufacturer of coiled tubing pressure control equipment in North America, with significant share in the Middle East and other international markets. Learn more online at www.nexusenergytech.com.

ABOUT VOYAGER

Voyager, based in Houston, Texas, is a specialized private equity firm that is committed to investment in lower middle market energy services and equipment companies. Voyager’s limited partner base is comprised primarily of experienced energy executives and entrepreneurs, not endowments and institutional money management firms like many private equity firms. The firm’s industry focus and source of capital provide significant flexibility in structuring a transaction. Learn more online at www.voyagerinterests.com.

Media Contact:
David Watson
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• EO is the UK’s leading provider of charging solutions for electric vehicle fleets, supporting customers like Amazon, DHL, Uber and Tesco
• ISO 15118-compliant AC chargers scheduled for trial by EO’s largest fleet customer in early 2022 before becoming more widely available for all electric fleets globally
• Charging technology unlocks the future integration of commercial EVs into the smart grid (vehicle-to-grid or V2G) and will leverage AI-based learning to help optimise large-scale fleet charging

LONDON--(BUSINESS WIRE)--EO Charging (“EO”), a leading provider of technology-enabled turnkey solutions for electric vehicle (“EV”) fleets, has today announced the filing of a new technology patent that will transform the smart charging of EV fleets. EO’s new ISO 15118-compliant EV chargers and software will unlock the future integration of commercial EVs into the smart grid (“V2G”) and leverage AI and Machine Learning (“ML”) to provide both public and private fleets of cars, vans, trucks and buses with a more secure and cost-effective charging solution.

Since its introduction in 2014, functional implementations of the ISO 15118 standard have been predominantly used by DC charge point operators. Bringing learnings from operators already using Plug&Charge capable DC chargers across Europe, EO has harnessed the same communication technology but applied it in a fleet scenario where AC chargers are more widely utilised. EO can now perform smart AC charging on legacy fleet vehicles that are not compliant with the 15118 standard.

The new technology works by permitting a two-way exchange of information between EV and AC charging unit, removing the need for third-party telematics providers and reducing the hassle of large-scale fleet electrification. The EV charger automatically authenticates a vehicle’s ID, allowing the built-in software to assess state of charge (“SOC”) and regulate the charge session based on the vehicle’s operational requirements and the depot’s real time energy profile.

“Plug&Charge has had a hugely positive impact in the public charging space, creating a seamless and efficient charging experience for drivers. However, it was exclusive to DC charging stations and therefore financially prohibitive for many users,” said Charlie Jardine, CEO and Founder of EO Charging. “EO can now bring this technology to fleet operators, harnessing its benefits for our customers around the world and across multiple charging systems. We’re the first to introduce an integrated AC Plug&Charge charging solution for fleets, another step in our journey to becoming the global leader in powering electric car, van, truck and bus fleets.”

As more businesses and governments around the world invest in fleet electrification, pressure is growing on global electricity grids to meet charging demands. EO’s patented technology will help ease this pressure, using smart grid communication (V2G) to avoid peak grid consumption hours. In turn, this will also make fleet charging more cost effective for businesses by shifting charging patterns to when electricity is at its cheapest. A live trial of the new technology is scheduled with EO’s largest fleet customer in early 2022, for which EO has installed and manages more than 4,400 chargers in almost 70 depots, across 7 countries in Europe.

“Our patented technology not only brings significant benefits to fleet operators today, but also lays the groundwork for true V2G charging for the future across both AC and DC solutions,” said Richard Earl, R&D Director at EO Charging. “As we continue to expand into new markets like the U.S., and North America overall, our R&D team will continue to be heavily focused on V2G charging, as well as AI and ML based software technologies. We recognise these as a vital pillars of successful global fleet electrification.”

EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.

About EO

EO Charging is a leading technology solutions provider in the EV sector. EO deploys EV charging stations, hardware-agnostic cloud-based software, electrical installation, grid upgrades and ongoing service and maintenance for fleets. EO also provides this end-to-end solution for fleets that require mission critical infrastructure.

Founded in 2014, EO’s technology is used by a number of the world’s largest businesses and fleet operators and it now distributes to over 35 countries around the world. It aims to become the global leader in charging electric van, truck, bus and car fleets.

EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.

EO was ranked number 27 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies. To learn more, please visit www.EOcharging.com and follow us @EOCharging on Twitter and LinkedIn.

Forward Looking Statements

The information in this press release includes "forward-looking statements". All statements, other than statements of present or historical fact included in this press release, regarding the proposed business combination between First Reserve Sustainable Growth Corp. (“FRSG”), Juuce Limited (the “Company”) and EO Charging (“EO”), each of such parties’ ability to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, FRSG, the Company and EO disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. FRSG, the Company and EO caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of any of FRSG, the Company or EO. In addition, FRSG, the Company and EO caution you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the Business Combination Agreement and Plan of Reorganization, dated as of August 12, 2021, by and among FRSG, FRSG Merger Sub Inc., EO and the Company, and the other agreements related to the business combination (including catastrophic events, acts of terrorism, the outbreak of war, COVID-19 and other public health events), as well as management’s response to any of the foregoing; (ii) the outcome of any legal proceedings that may be instituted against FRSG, the Company, EO, their affiliates or their respective directors and officers following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the stockholders of FRSG, regulatory approvals, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts FRSG's or the Company's current plans and operations as a result of the announcement of the transactions; (v) the Company's and EO’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the pace and depth of EV adoption generally, and the ability of the Company to accurately estimate supply and demand for its EV charging products and services, and to grow and manage growth profitably following the business combination; (vi) risks relating to the uncertainty of the projected financial information with respect to the Company, including the conversion of pre-orders into binding orders; (vii) costs related to the business combination; (viii) changes in applicable laws or regulations, governmental incentives and fuel and energy prices; (ix) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (x) the amount of redemption requests by FRSG’s public stockholders; and (xi) such other factors affecting FRSG that are detailed from time to time in FRSG’s filings with the Securities and Exchange Commission (the "SEC"). Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and its periodic filings with the SEC, including its Quarterly Report on Form 10-Q for quarterly period ended June 30, 2021. FRSG's SEC filings are available publicly on the SEC's website at www.sec.gov.

Important Information for Investors and Stockholders

In connection with the proposed business combination, a registration statement on Form F-4 that includes a preliminary proxy statement/prospectus has been filed by EO with the SEC. After the registration statement is declared effective, the definitive proxy statement will be distributed to FRSG’s stockholders in connection with FRSG’s solicitation for proxies for the vote by FRSG’s stockholders in connection with the proposed business combination and other matters as described in the Form F-4, as well as a definitive prospectus of EO relating to the offer of the securities to be issued in connection with the completion of the business combination. Copies of the Form F-4 may be obtained free of charge at the SEC's website at www.sec.gov. FRSG’s stockholders are urged to read the preliminary proxy statement/prospectus and the other relevant materials (including, when available, the definitive proxy statement/prospectus) when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

No Offer or Solicitation

This communication is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of FRSG, EO or Juuce, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, as amended, or exemptions therefrom.

Participants in the Solicitation

FRSG, the Company and EO and their respective directors and officers may be deemed participants in the solicitation of proxies of FRSG's stockholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of FRSG's executive officers and directors in the solicitation by reading FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of FRSG's, the Company’s and EO’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available

SEC Newgate UK
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ICR, Inc.
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VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen'' or the “Company”) (TSXV:EVGN) announces the appointment of Natasha Monk as Interim Chief Financial Officer.

Natasha Monk, who has worked with EverGen since its inception, is a Chartered Professional Accountant with 12 years of accounting, financial reporting and tax experience in both public practice and industry. She is currently a Partner with Affirm LLP where she advises and consults to a wide variety of companies in multiple industries across both public and private sectors. Prior to joining EverGen, Natasha obtained her Chartered Accountant designation at KPMG and then went on to pursue CPA’s In Depth Tax and STEP programs. She completed a Bachelor of Commerce (Accounting) degree at the University of Calgary.

Effective December 1, 2021, Natasha assumes responsibilities from Jennifer Schilling. Jennifer is transitioning to the role of EverGen’s Director of Business Services to lead the integration of existing businesses & future projects across EverGen’s portfolio.

About EverGen Infrastructure Corp.

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

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

EverGen Investors
Kelly Castledine
416-576-8158
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Six-member independent council to bolster KKR’s ESG expertise and capabilities and advance the firm’s ESG strategy and practices

NEW YORK--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced the launch of its Sustainability Expert Advisory Council (the “SEAC”). The SEAC comprises six leading independent experts across key environmental, social, and governance (“ESG”) issues including climate; diversity, equity, and inclusion; labor and workforce; governance and transparency; and data responsibility. The SEAC will complement KKR’s growing internal ESG capabilities by offering valuable external insights and perspectives on sustainability topics and advising the firm on ESG strategy and initiatives.

“We are thrilled to have this esteemed group of sustainability experts serve as a resource to us as we continue to further our commitment to creating shared value by aligning shareholder and stakeholder interests,” said Ken Mehlman, Partner, Global Head of Public Affairs and Co-Head of Global Impact at KKR. “I am confident that their counsel and expertise will help us continue to advance our ESG strategy and practices to the benefit of our portfolio companies, investors and employees.”

Robert Eccles, Visiting Professor of Management Practice at the University of Oxford Saïd Business School, Founding Chairman of the Sustainability Accounting Standards Board (SASB), and a founder of the International Integrated Reporting Council, will serve as Chair of the SEAC. Other members will include:

• Alexandra Givens, President and CEO of the Center for Democracy and Technology
• Nat Keohane, President of the Center for Climate and Energy Solutions
• Andrew Stern, Senior Fellow, Economic Security Project and President Emeritus of the Service Employees International Union
• Roy Swan, Head of Mission Investments at the Ford Foundation and former co-head of Morgan Stanley’s Global Sustainable Finance team
• Claudia Zeisberger, Senior Affiliate Professor of Entrepreneurship and Family Enterprise at INSEAD and founder of the Global Private Equity Initiative, INSEAD’s center of excellence for Private Equity and Venture Capital

“I am honored to chair the Sustainability Expert Advisory Council alongside this group of talented and visionary sustainability experts,” said Dr. Eccles. “Cross-disciplinary collaboration is critical to advancing sustainability goals and financial institutions like KKR play a key role in this effort. I look forward to helping KKR as it continues to raise the bar for responsible investing through its thoughtful and rigorous approach to managing ESG issues.”

For more than a decade, KKR has been a leader in driving and protecting value across its investments through thoughtful ESG management, measurement, and reporting. The firm also has a history of investing behind ESG and sustainability themes, having invested more than $7.5 billion in businesses that help provide solutions to critical environmental or social challenges.

KKR has also continued to build out its internal ESG capabilities. The firm’s ESG team has nearly tripled in size over the past twelve months, adding seven dedicated professionals focused on ESG integration, ESG compliance, impact measurement, data science, and reporting across all asset classes.

More information on KKR’s sustainable investing efforts can be found at www.kkresg.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media Contact:
Cara Major or Julia Kosygina
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Focus on continuous progress, value and affordability

CHICAGO--(BUSINESS WIRE)--#ComEd--The Illinois Commerce Commission (ICC), which regulates the state’s public utilities, today approved ComEd investments that enhance reliability and enable the transition to clean and renewable energy. The decision concludes an eight-month process in which the ICC, Illinois Attorney General and consumer groups reviewed ComEd’s actual costs for 2020 and power grid investments this year. The investment approval will result in an overall $46 million increase in rates that will add 16 cents to the average monthly bill for residential customers beginning in January and will be the first electric delivery rate increase in four years.

“ComEd is providing families and businesses industry-leading performance and smart investments will be key to meeting new customer expectations,” said Gil Quiniones, CEO of ComEd. “The power grid must be strong and resilient to withstand more frequent and severe weather events from climate change. We’ve received nearly 10,000 applications from customers this year to connect rooftop and community solar to our grid, at the same time demand for electric vehicles is growing. Our continuous improvement in performance and our smart investments means we can meet the needs of our customers while helping the state achieve its clean energy goals.”

ComEd’s average residential rates are among the most competitive in the nation. They are 17 percent lower than rates in the 10 largest U.S. metropolitan areas according to the most recent survey by the Edison Electric Institute. ComEd’s average commercial rates are 18 percent lower than rates in the top 20 largest U.S. metropolitan areas.

In January, ComEd residential customer bills will include an additional 29 cents per month on average for energy efficiency programs. ComEd’s average total residential customer bill will be about equal to what it was in 2008, in part because these successful energy efficiency programs have helped customers use less energy and produced $5.7 billion in total customer savings.

As a critical service provider, ComEd has programs and funding to support those who struggle to pay their bills. At the height of the pandemic, ComEd increased financial assistance funding by $9 million with the approval of the ICC, and as of November, ComEd has connected customers with over $138 million in assistance through state and federal programs. It also has provided hardship grants and assistance grants to small businesses.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.

ComEd Media Relations
312-394-3500

Supports Approximately Doubling Earnings and Cash Flow Potential, Reducing Emissions

• Disciplined capital investments held constant at $20-$25 billion per year
• Accelerates investments in high-return advantaged projects, greenhouse gas emission reductions
• New Scope 1 and Scope 2 greenhouse gas emission-reduction plans through 2030 consistent with Paris Agreement pathways

IRVING, Texas--(BUSINESS WIRE)--ExxonMobil (NYSE: XOM) said today it has finalized corporate plans, which increase spending to $15 billion on greenhouse gas emission-reduction projects over the next six years while maintaining disciplined capital investments in its industry-leading portfolio. The plans support the corporate strategy of continued structural cost savings, investment in low-cost-of-supply and lower-emission products, and further portfolio high-grading, positioning the company to double earnings and cash flow by 2027 versus 2019.

The company also announced it is on track to meet its 2025 greenhouse gas emission-reduction plans by year-end 2021, four years ahead of schedule. In addition, ExxonMobil has developed more aggressive plans for further Scope 1 and Scope 2 reductions through 2030, consistent with Paris Agreement pathways.

Capital Plans

ExxonMobil plans to maintain capital investments in the range of $20-$25 billion per year through 2027 with flexibility to adjust to adverse market conditions or changes in policy and technology for low-emissions projects.

“The restored strength of our balance sheet and improved financial outlook support accelerating investment in our industry-advantaged, high-return projects, and a growing list of financially accretive lower-emission business opportunities,” said Darren Woods, chairman and chief executive officer. “Our strategy is designed to create shareholder value by leveraging our competitive advantages while maintaining flexibility to respond to future policy changes and technology advances associated with the energy transition.”

Projected growth of cash flow and earnings in the Upstream business results from aggressive cost reductions and progressing advantaged investments in low-cost-of-supply projects in Guyana, Brazil, and the Permian Basin in the United States. More than 90% of Upstream planned capital investments through 2027 are expected to generate returns of greater than 10% at prices less than or equal to $35 per barrel of oil equivalent, while reducing Upstream GHG emissions intensity by 40-50% through 2030, compared to 2016 levels.

Downstream and Chemical earnings and cash flow growth plans are focused on high-return projects, which are expected to double the volume of valuable performance chemicals and lower-emission fuels and lubricants. The company will leverage its industry-leading manufacturing scale, integration, and technology position to high-grade its portfolio and reduce costs, while optimizing operations and leveraging the capabilities of the Low Carbon Solutions business to reduce greenhouse gas emission intensity at operated facilities.

Increased cash flow and earnings enable both further debt reduction and returns to shareholders. To date in 2021, the company has repaid $11 billion in debt and expects to be comfortably within the range of its targeted debt–to-capital ratio of 20-25% by year-end. It has also announced a $10 billion share-repurchase program over 12-24 months that will commence in 2022, and it increased its annual dividend payment for the 39th consecutive year.

Greenhouse Gas Emission Reduction Plans

As part of its plan, ExxonMobil has committed $15 billion for lower-emission investments through 2027. These investments will include a balance between projects to reduce greenhouse gas emissions from existing operations and increased investments in the Low Carbon Solutions business. The same capabilities, technical strengths and market experience that support base energy and chemical businesses will help drive commercial growth opportunities for carbon capture and storage, biofuels and hydrogen where supportive policies currently exist and provide for strong returns.

ExxonMobil is on track to exceed its 2025 greenhouse gas emission-reduction plans announced in December 2020. The company anticipates year-end 2021 results to show a reduction of 15-20% in greenhouse gas intensity from Upstream operations compared to 2016 levels, four years ahead of schedule. This is supported by an anticipated reduction of 40-50% in methane intensity and 35-45% in flaring intensity compared to 2016.

“The focused actions we have taken have enabled us to accelerate greenhouse gas reductions particularly in the areas of methane and flaring,” said Woods. “We anticipate meeting our 2025 greenhouse gas emission-reduction plans ahead of schedule, which gives us confidence to set more aggressive medium-term goals across all of our businesses.”

The new medium-term greenhouse gas reduction plans for 2030 are consistent with Paris Agreement-aligned pathways and include the following:

2030 Greenhouse Gas Emission-Reduction Plans

• 20-30% reduction in corporate-wide intensity
• 40-50% reduction in Upstream intensity
• 70-80% reduction in corporate-wide methane intensity
• 60-70% reduction in corporate-wide flaring intensity

These new plans include actions that are expected to reduce absolute corporate-wide greenhouse gas emissions by approximately 20%. The company also reaffirms it plans to achieve the goals of the World Bank for zero routine flaring no later than 2030.

ExxonMobil’s 2030 GHG emission-reduction plans cover Scope 1 and Scope 2 greenhouse gas emissions from assets operated by the company compared to 2016 levels. For assets not operated by the company, it will work with its equity partners and strive to achieve comparable results.

Supporting materials for this press release are available on the Investor Relations page of ExxonMobil.com.

About ExxonMobil

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

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Cautionary Statement

Statements of future events or conditions in this press release are forward-looking statements. Actual future results, including financial and operating performance; potential earnings, cash flow, and rates of return; project plans, timing, costs, and capacities; realization and maintenance of cost reductions, opex savings and structural efficiencies; integration benefits; emissions intensity and absolute emissions reductions; implementation and outcomes of carbon capture and storage projects, renewable fuel projects, and other lower-carbon business efforts; price and margin assumptions; dividends and shareholder returns including the timing and amounts of share repurchases, cash and debt balances, and capital expenditures; resource recoveries and production rates; and product sales levels and mix could differ materially due to a number of factors including global or regional changes in oil, gas, petrochemicals, or feedstock prices, differentials, or other market or economic conditions affecting the oil, gas, and petrochemical industries and the demand for our products; the outcome of competitive bidding and project wins; regulatory actions targeting public companies in the oil and gas industry; changes in local, national, or international laws, regulations, and policies affecting our business, including with respect to the environment or the development and transportation of our products; taxes, trade sanctions, and actions taken in response to pandemic concerns; the pace of regional and global economic recovery from the pandemic and the occurrence and severity of future outbreaks; the ability to realize efficiencies within and across our business lines and to maintain cost reductions without impairing our competitive positioning; the outcome and timing of exploration and development projects; reservoir performance; timely completion of construction projects; war and other security disturbances; actions of consumers and changes in consumer preferences; opportunities for and regulatory approval of investments or divestments that may arise, including satisfaction of conditions precedent under applicable agreements; the outcome of our or competitors’ research efforts and the ability to bring new technology to commercial scale on a cost-competitive basis; the development and competitiveness of alternative energy and emission reduction technologies; unforeseen technical or operating difficulties including the need for unplanned maintenance; and other factors discussed here and in Item 1A. Risk Factors of our Annual Report on Form 10-K and under the heading “Factors Affecting Future Results” available through the Investors page of our website at exxonmobil.com. All forward-looking statements are based on management’s knowledge and reasonable expectations at the time of this press release and we assume no duty to update these statements as of any future date.

Forward-looking statements contained in this press release regarding the potential for future earnings, cash flow, dividends and returns, including statements regarding future earnings potential and returns in the Upstream, Chemical and Downstream segments and in our lower-carbon investments, are not forecasts of actual future results. These figures are provided to help quantify for illustrative purposes management’s view of the potential future results and goals of currently-contemplated management plans and objectives over the time periods shown, calculated on a basis consistent with our internal modeling assumptions. In calculated future prices, we assume $60/bbl Brent crude prices and natural gas prices used are consistent with management’s internal price assumptions for the relevant natural gas markets relative to that crude price. All crude and natural gas prices for future years are adjusted for inflation from 2021. Downstream and Chemical margins reflect annual historical averages for the 10-year period from 2010—2019 unless. These assumptions are not forecasts of actual future market conditions. For this purpose we have assumed future demand growth in line with our internal planning basis, and that other factors including factors management does not control such as applicable laws and regulations (including tax and environmental laws), interest rates, and exchange rates remain consistent with current conditions for the relevant periods. These calculations do not attempt to model potential future COVID-19 outbreaks or recoveries.

ExxonMobil-operated emissions, reductions and avoidance performance data are based on a combination of measured and estimated data using best available information. Calculations are based on industry standards and best practices, including guidance from the American Petroleum Institute (API) and IPIECA. The uncertainty associated with the emissions, reductions and avoidance performance data depends on variation in the processes and operations, the availability of sufficient data, the quality of those data and methodology used for measurement and estimation. Changes to the performance data may be reported as updated data and/or emission methodologies become available. ExxonMobil works with industry, including API and IPIECA, to improve emission factors and methodologies. Emissions, reductions and avoidance estimates from non-ExxonMobil operated facilities are included in the equity data and similarly may be updated as changes to the performance data are reported. ExxonMobil’s plans to reduce emissions are good faith efforts based on current relevant data and methodology, which could be changed or refined.

The term “Upstream planned capital investments” as used in this release refers to projects that bring on new volumes with returns calculated on a money-forward basis. The term “performance chemicals” as used in this release refers to Chemical products that provide differentiated performance for multiple applications through enhanced properties versus commodity alternatives and bring significant additional value to customers and end-users. The term “project” as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.

This release summarizes highlights from ExxonMobil’s December 1, 2021 update for its corporate plans. For more information concerning the forward-looking statements, defined terms, and other information contained in this release, please refer to the complete presentation (including important information contained in the Cautionary Statement and Supplemental Information sections of the presentation) on the Investors section of our website at exxonmobil.com. Definitions and additional information concerning certain terms used in this release are also provided in the Frequently Used Terms available on the Investor page of our website at www.exxonmobil.com under the heading News & Resources.

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ANSAN, South Korea--(BUSINESS WIRE)--#DeskLamp--Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a global optical semiconductor company, announced on the 2nd that it supplied SunLike, a natural light LED, to KOIZUMI FURNITECH Technology Corp., a Japanese learning furniture company. KOIZUMI FURNITECH, a company specializing in traditional Japanese learning furniture, is an affiliated company of Koizumi Group, same as Koizumi, a premium lighting company.

Seoul Semiconductor has been supplying SunLike technology to KOIZUMI lighting company. SunLike technology was already applied to KOIZUMI's children's room lighting and living room lighting in July 2020, and this time it was applied to desk light (ECL-111 and ECL-112) that helps create an optimal learning and reading environment.

SunLike technology is the world's first LED solution unique to Seoul Semiconductor that reproduces the spectrum curve of natural light. In recognition of its technology as the most similar lighting to natural light, it has won the highest diamond grade from Underwriters Laboratories (UL), an international lighting certification body. In addition, in a study at Seoul National University in Korea, Basel University in Europe, and Harvard Medical School led by Dr. Shadab Rahman, it was proven that the use of lighting with SunLike technology improves learning abilities such as working memory, problem-solving accuracy, learning speed, and cognitive processing speed.

Humans control the secretion of melatonin, a biological hormone, by using the wavelength of light entering through the eyes. Decrease of melatonin secretion results in vigorous physical activity and improvement of concentration, while increased secretion stabilizes human circadian rhythm and makes the body rest. The use of morning-light applied with SunLike technology promotes brain activity, helping improve children's concentration and learning speed, and evening-light provides a comfortable rest.

KOIZUMI FURNITECH's desk light with SunLike provides three colors: morning-light (Natural white + Warm white color) for concentration, Afternoon-light (Natural white color) for cognitive processing speed, and evening-light (Warm white color) for relaxation. In addition, there is a 45-minute timer function tailored to the class hours of elementary school students, which helps keep the ‘learning and rest cycle.’

"Since COVID-19 has reduced outdoor activities of children and students and made them spend a lot of time indoors away from sunlight, the importance of lighting has been highlighted," an official from Seoul Semiconductor said. "We expect SunLike, which reproduces sunlight, to help many children's eye health and learning effects."

Seoul Semiconductor has supplied SunLike technology to desk lamps for several lighting companies, including: ‘The Light’ of Balmuda, Japan, ‘Prism,’ ‘BY THE M,’ and ‘Cozy Light’ of Korea, ‘Xiaomi’ of China, and ‘Rang Dong’ of Vietnam.

About Seoul Semiconductor

Seoul Semiconductor is the world’s second-largest global LED manufacturer, a ranking excluding the captive market, and has more than 10,000 patents. Based on a differentiated product portfolio, Seoul offers a wide range of technologies, and mass produces innovative LED products for indoor and outdoor lighting, automotive, IT products, such as mobile phones, computer displays, and other applications, as well as the UV area. The company’s world’s first development and mass production products are becoming the LED industry standard and leading the global market with a package-free LED, WICOP; a high-voltage AC-driven LED, Acrich; an LED with 10X the output of a conventional LED, nPola; a cutting edge ultraviolet clean technology LED, Violeds; an all direction light emitting technology, filament LED; a natural sun spectrum LED, SunLike; and more. For more information, please visit www.seoulsemicon.com/en.

Seoul Semiconductor Co., Ltd.
Jinseop Jeong
+82-70-4391-8555
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The Joint Development Agreement between OneWeb and Kymeta aims to bring to market a u8 based LEO terminal that supports COTP and COTM

REDMOND, Wash. & LONDON--(BUSINESS WIRE)--#JDA--Kymeta (www.kymetacorp.com), the communications company making mobile global, and OneWeb (www.oneweb.world), the Low Earth Orbit (LEO) satellite communications company, announced today a joint development agreement (JDA) to develop an innovative flat panel electronically steered user terminal that is compatible with the OneWeb network to support land fixed applications and leading the way to various mobility applications like land mobile, maritime, and other mobility needs of the future.

The Kymeta™ u8 flat panel antenna technology provides an innovative solution to interoperate with the OneWeb LEO satellite constellation that supports Communication on the Pause (COTP) and future Communications on the Move (COTM) for military, government, first responder, maritime, enterprise and other commercial customers. The Kymeta u8 based terminal will provide the benefits of interoperability between GEO and OneWeb LEO services to strengthen the reach of the terminal solutions.

“This JDA formulized our collaborative efforts and commitment to bring to market an innovative electronically-steered antenna that is turnkey and compatible with OneWeb’s rapidly expanding LEO network,” said Neville Meijers, Chief Strategy and Marketing Officer, Kymeta. “We look forward to this joint endeavor for the benefit of our mutual customers.”

“Kymeta’s pioneering u8 does not require mechanical components to steer toward a satellite and when paired with our LEO network will provide governments, businesses, and communities with high-throughput and low-latency communication services at competitive prices,” said OneWeb Chief of Delivery and Operations, Michele Franci. “This partnership is a welcome addition to our overall product strategy, offering another great choice for OneWeb’s customers and contributes to strengthening our vision to provide seamless, resilient mobile connectivity where and when its needed most.”

Under the new JDA, engineering teams from both OneWeb and Kymeta will collaborate to ensure the terminal meets the technical specifications required for compatibility with the OneWeb network.

The announcement comes just months after Kymeta and OneWeb previously collaborated on a pilot program to successfully test and demonstrate a LEO-GEO capable land flat panel user terminal in Toulouse, France which generated a great deal of interest from customers. The two companies aim to launch their new solution into the market for purchase by the third quarter of 2022.

About Kymeta

Kymeta is unlocking the potential of broadband satellite connectivity, combined with cellular networks, to satisfy the overwhelming demand for comms on the move and making mobile global. Lepton Global Solutions, a Kymeta company, hosts the company’s satellite connectivity solutions and offers unique, complete, and turnkey bundled solutions to the market based on best-in-class technologies and tailored customer-centric services that meet and exceed customer mission requirements. These solutions in tandem with the company’s flat-panel satellite antenna, the first of its kind, and Kymeta Connect™ services provide revolutionary mobile connectivity on satellite and hybrid satellite-cellular networks to customers around the world. Backed by U.S. and international patents and licenses, the Kymeta terminal addresses the need for lightweight, slim, and high-throughput communication systems that do not require mechanical components to steer toward a satellite. Kymeta makes connecting easy – for any vehicle, vessel, or fixed platform.

Kymeta is a privately held company based in Redmond, Washington.

For more information, visit kymetacorp.com

About OneWeb

OneWeb is a global communications network powered from space, headquartered in London, enabling connectivity for governments, businesses, and communities. It is implementing a constellation of Low Earth Orbit satellites with a network of global gateway stations and a range of user terminals to provide an affordable, fast, high-bandwidth and low-latency communications service, connected to the IoT future and a pathway to 5G for everyone, everywhere. Find out more at http://www.oneweb.world

Business Inquiries for Kymeta:

Brenda Kuhns
Director of Marketing
Kymeta Corporation
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Media Inquiries for Kymeta:

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The Summit Group
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OneWeb Team:

USA, Latin America, Canada
Katie Dowd
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Tabitha Aldrich-Smith
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HOUSTON--(BUSINESS WIRE)--JERA Americas, the Houston-based subsidiary of global energy leader JERA Co. (JERA), has acquired a 100% interest in the El Sauz Wind Power Project from Apex Clean Energy, the original developer. The approximately 300 megawatt (MW) project, located in Willacy County, Texas, is expected to begin construction in early 2022 and begin operating in the last quarter of the year.

“We are extremely proud that our first investment in renewable energy in the US is right here in Texas where we have our American headquarters,” said Steven Winn, CEO of JERA Americas. “We are looking to accelerate the transformation of our energy supply to more sustainable forms of energy and this project marks the beginning of what we plan to be a substantial and growing commitment to renewables in this state and across the country. We like the Texas market for the way it supports cleaner energy and we plan to be here for the long term.”

The Project will consist of 67 Nordex Group wind turbines each capable of generating 4.5 MW of electricity, which at full output could power approximately 240,000 homes. Wanzek Construction, Inc. will serve as the balance of plant contractor for the project.

“El Sauz Wind represents a significant milestone—not only for JERA Americas, as its first US renewable energy investment, but also for the community, which will benefit from the significant local investment associated with construction of the project,” said Mark Goodwin, President and CEO of Apex Clean Energy. “El Sauz Wind will also generate new jobs and a significant source of revenue for Willacy County for decades to come. The success of this project is the result of a strong partnership with the famed HP El Sauz Ranch, a family-owned, historic working ranch that will be home to the wind farm.”

JERA plans to be a global leader in renewable energy and zero CO₂ emission electricity and has announced a 5 gigawatt (GW) goal for renewable energy projects by 2025 and to achieve net zero CO₂ emissions by 2050. JERA Americas established a renewable energy business in 2020 and plans to contribute approximately 2 GW toward achievement of the 5 GW global goal. The transaction marks the first renewable energy investment by JERA in the United States.

The El Sauz Wind development announcement comes after several other recent actions taken in pursuit of JERA’s goal of net zero CO₂ emissions by 2050. This summer, JERA Americas announced hydrogen blending projects at two natural gas fired generation facilities in the northeastern US. In September, JERA Americas also took an ownership interest in Hydrogenious LOHC Technologies, a company focused on providing safe hydrogen storage and transportation solutions to help spur the growth of hydrogen as a zero carbon fuel to reduce carbon emissions at fossil fuel plants.

ABOUT JERA AMERICAS

A subsidiary of Tokyo-based JERA that produces about 30% of all electricity in Japan, JERA Americas is supporting an energy transition in an environmentally and socially responsible manner. JERA, which stands for Japanese Energy for a New Era, has been working to achieve net zero CO2 emissions from its domestic and overseas businesses by 2050 and is contributing to the development of a sustainable society. https://www.jera.co.jp/english/. For more information contact This email address is being protected from spambots. You need JavaScript enabled to view it..

ABOUT APEX CLEAN ENERGY

Apex Clean Energy was founded with a singular focus: to accelerate the shift to clean energy. Through origination, construction, and operation of utility-scale wind, solar, and storage facilities, distributed energy resources, and green fuel technologies, Apex is expanding the renewable frontier across North America. Our mission-driven team of more than 300 professionals uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information about how Apex is building the energy company of the future, visit apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.

JERA Americas
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The program’s fifth cohort will receive world-class research support and non-dilutive funding to deploy clean technologies that decarbonize industrial processes and optimize electric vehicle charging

DENVER & HOUSTON--(BUSINESS WIRE)--The Shell GameChanger Accelerator™ Powered by NREL (GCxN), a multi-million dollar program developed in collaboration between Shell GameChanger and the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), has selected five startups to participate in the program’s fifth cohort. GCxN provides promising early-stage cleantech startups with resources to accelerate product commercialization while de-risking investment.

The selected startups are focused on decarbonizing industrial processes through innovative energy storage and heating technologies, as well as optimizing electric vehicle charging through hardware and software solutions. The fifth GCxN cohort includes:

• Alumina Energy (Santa Monica, CA) - Developing modular energy storage systems that can be incorporated with thermal generation systems to improve operational flexibility, increase capacity, and reduce fuel consumption as well as greenhouse gas emissions.
• BattGenie (Seattle, WA) - Providing cutting-edge battery management software solutions that enable safer, longer-lasting and faster charging lithium-ion batteries for electric vehicles.
• Electrified Thermal Solutions (Medford, MA) - Developing energy storage technology built on a novel joule-heating system that converts zero-carbon electricity into heat, which can be used to replace fossil fuels in industrial processes.
• Induction Food Systems (Durham, NC) - Creating the first scalable, precise, and efficient inline heating solution for food and beverage manufacturers, eliminating the complexities, costs and greenhouse gas emissions of conventional steam heating.
• Resonant Link (Shelburne, VT) - Manufacturing high-performance wireless chargers for electric vehicle fleets to be used while they operate, providing both higher power and lower costs.

“The potential impact of decarbonizing industrial processes like cement and steel is massive, but the levels of heat required makes this notoriously difficult,” said Johanna Jamison, GCxN program manager at NREL. “NREL and Shell are working with the newly selected GCxN companies to commercialize technology solutions and address this problem.”

“Electric vehicles are critical for decarbonizing the transportation sector but charging requirements remain a major barrier to wide-scale customer adoption, and the associated increase in demand for electricity poses risks to the electric grid,” said Yesim Jonsson, Shell’s GCxN program manager. “The companies in GCxN’s fifth cohort are developing technologies that will improve the efficiency and safety of electric vehicle charging, which can ensure continued vehicle electrification to reach climate targets.”

GCxN startups are referred by the program’s network partners—more than 60 cross-industry cleantech incubators, accelerators and universities—before undergoing in-depth review by Shell and NREL. Participating companies benefit from NREL’s state-of-the-art research capabilities, receive up to $250,000 in non-dilutive funding, and have access to networking opportunities through NREL's Innovation and Entrepreneurship Center.

Participating startups have raised more than $70 million of funding to date, representing a $20 leverage ratio for each dollar of GCxN funding. Portfolio companies have also hired 51 new employees since GCxN program onboarding. For more information visit GCxNREL.com.

About GCxN
The Shell GameChanger Accelerator™ powered by NREL (GCxN) is a multi-million dollar, multi year program developed in collaboration between Shell GameChanger and the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to discover and advance emerging clean technologies with the potential to dramatically alter the future global energy landscape. GCxN identifies promising startup companies through an ecosystem of more than 60 cleantech business incubators, accelerators and universities, providing access to up to $250,000 in non-dilutive funding in the form of technical expertise to develop and demonstrate new energy technologies. GCxN is made possible by funding through Shell GameChanger. GCxN is administered by NREL, located in Golden, Colo.

Liz Crumpacker
Antenna Group for GCxN
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– Solutions enable optimized energy distribution, electrical grid resilience, and higher return on assets –

TOKYO--(BUSINESS WIRE)--#DER--Yokogawa Electric Corporation (TOKYO:6841) announces it has acquired all of the outstanding shares of PXiSE Energy Solutions LLC., a San Diego-based developer of software that enables utilities and other grid operators to deliver reliable and stable power by managing renewables and distributed energy resources (DERs) in real time. Through this acquisition, Yokogawa will build on its capabilities in the monitoring and control of power generation facilities and assist customers in the power transmission and distribution sectors to meet their clean energy goals.

Renewable energy sources such as wind and solar PV are crucial for reducing greenhouse gas emissions, however the power generated is unpredictable as they are affected by the weather conditions. It also requires a much larger number of units distributed over a wider area to generate the same amount of power as a conventional power station. In addition, energy consumers themselves are becoming energy resources as they install solar power and battery storage systems. These factors are altering the very nature of the grid that utilities manage.

PXiSE (pronounced “pice”) was started in 2016 based on the idea that real-time data from the grid combined with artificial intelligence could be leveraged to help utilities manage the rapidly increasing number of distributed energy resources that are coming online every year. Since proving this concept, the company has delivered more than one gigawatt of projects in the US, Asia, and Oceania, helping clients achieve both their grid management and emission goals. Prior to the acquisition, the company was a subsidiary of Sempra, a US-based energy infrastructure company, and was partially owned by a subsidiary of Mitsui & Co., Ltd.

PXiSE’s Active Control Technology (ACT) is an automated grid control software platform that consists of hybrid power plant controls, microgrid controls, and a distributed energy resource management system, achieving holistic system optimization by enabling the integration of groups of DERs alongside traditional grid components. It can also maximize the efficiency and production of utility-scale renewable energy assets. The patented ACT delivers higher reliability than conventional power system monitoring and control systems due to its high-speed measurement and control, which enable seamless energy source transitions. Integration of external data sets and predictive forecasting support cost and profit optimization.

In the power sector, Yokogawa has decades of experience in delivering and optimizing control systems for conventional power plants around the world, and Yokogawa’s controllers and industrial IoT software platforms support renewable power generation facilities as well as energy management systems for buildings, factories, and communities. The addition of PXiSE to the Yokogawa Group will enable the company to help global customers involved in power transmission and distribution to better manage the increasingly diversified energy supply chain, maximize the deployment of renewable energy assets, and ultimately deliver affordable, reliable, and sustainable forms of energy.

“We’re thrilled to be joining Yokogawa Electric Corporation, whose deep expertise in power plant and industrial control systems is a natural complement to our innovative grid controls technology. Combined, Yokogawa and PXiSE expertise provides tremendous value creation for customers, the energy industry, and society,” said Patrick Lee, CEO and cofounder of PXiSE Energy Solutions. “Our market growth will be greatly strengthened thanks to Yokogawa’s global engineering, sales, service, and support network, and Yokogawa will be able to accelerate their expansion into the power delivery and distribution end-use sectors. Together, we look forward to becoming worldwide renewable energy leaders, enabling the clean energy transition.”

“Yokogawa believes that the decarbonization trend in the energy sector is one of the biggest challenges society has ever faced,” said Koji Nakaoka, vice president and head of the Energy & Sustainability Business Headquarters and the Global Sales Headquarters at Yokogawa Electric. “PXiSE’s highly innovative technologies address many of the issues related to the optimal production and integration of renewable and other energy sources, so we are extremely excited to welcome them to the Yokogawa Group. We look forward to being able to make this outstanding technology available to our customers around the world as soon as possible.”

Outline of PXiSE Energy Solutions LLC.

Location: San Diego, California, USA
Founded: December 2016
Main business: Development and implementation of software solutions for a renewable and distributed electric grid

About Yokogawa

Yokogawa provides advanced solutions in the areas of measurement, control, and information to customers across a broad range of industries, including energy, chemicals, materials, pharmaceuticals, and food. Yokogawa addresses customer issues regarding the optimization of production, assets, and the supply chain with the effective application of digital technologies, enabling the transition to autonomous operations.
Founded in Tokyo in 1915, Yokogawa continues to work toward a sustainable society through its 17,500 employees in a global network of 119 companies spanning 61 countries.
For more information, visit www.yokogawa.com

The names of corporations, organizations, products, services and logos herein are either registered trademarks or trademarks of Yokogawa Electric Corporation or their respective holders.

Media Contact
PR Section, Integrated Communications Center
Yokogawa Electric Corporation
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The AeroFlexx liquid package is one of the first packages to receive the “Made for Recycling” recognition for multiple countries across Europe

WEST CHESTER, Ohio--(BUSINESS WIRE)--#recycling--AeroFlexx announced today that it has been awarded the “Made for Recycling” seal from Interseroh for the AeroFlexx liquid package, a flexible construct which contains an air frame that provides rigid qualities throughout the entire package lifecycle. AeroFlexx is one of the first packages to receive the “Made for Recycling” designation for the multiple countries across Europe that offer recycling for rigid polyethylene packaging, meaning consumers have the convenience of recycling AeroFlexx packages just like other widely recycled polyethylene (PE) bottles.

As a recycling specialist, Interseroh, part of the Alba group, is involved in all stages of the packaging cycle, from licensing and collection to sorting and processing plastics. The “Made for Recycling” designation was established by Interseroh in partnership with the German bifa environmental institute, who came up with a set of criteria for recycling with a maximum of 20 possible points. Fraunhofer IVV affirmed the assessment method. Only products achieving 18 points or higher achieve the “Made for Recycling” title. AeroFlexx packaging received a 19 out of 20 rating from Interseroh.

Achieving recyclability recognition through Interseroh is just the first of many steps AeroFlexx is taking to ensure AeroFlexx packages are compatible with the recycling systems in both Europe and the Americas. And while recyclability is important to ensure customers and brands can achieve their circularity goals, that is not the only environmental attribute the AeroFlexx liquid package affords. The liquid package is significantly lighter than its competitors, reducing the amount of plastic used by at least 50% with the ability to incorporate recycled content for further reduction in virgin plastic use. These environmental benefits can afford brands the ability to not just close the loop and meet their circularity goals, but also accelerate progress toward greenhouse gas reduction and also reduce waste to landfills.

“AeroFlexx is honored to be recognized as ‘Made for Recycling,’” said Andrew Meyer, CEO of AeroFlexx. “Our commitment to a circular economy is to proactively engage the industry to create an ecosystem whereby no AeroFlexx package ends up in the environment. This designation recognizes the collective commitment and effort across the entire AeroFlexx team as we believe we have an unwavering obligation to our customers, society and future generations to do our part to reduce environmental impacts without compromise on performance or the consumer experience.”

Interseroh notes that the term “recyclability” is understood to mean the extent to which the materials used to manufacture the product can be returned to the material loop at the end of the product’s useful life and therefore close the material loop. Interseroh utilizes a three-stage points system. In the first stage, it is determined whether the consumer can assign the packaging to the right collection system without any problems. In the second stage, how the packaging performs during the sorting process is assessed. In the third stage, an evaluation takes place as to how suitable the packaging is for recycling, and to determine if design features such as labels, colors or barriers make the recycling process more difficult.

About AeroFlexx

AeroFlexx, a portfolio company of Innventure, is revolutionizing the liquid packaging industry by offering the only flexible package with an air-chamber that provides rigid qualities to a flexible package. AeroFlexx has worked to ensure that its proprietary package is customer centric, enhances the consumer experience, and meets e-commerce requirements, including being Amazon ISTA 6 approved. The packaging design allows greater flexibility in size and shape development, provides efficiency in manufacturing, and thanks to seamless edge-to-edge artwork – has no label limitations. To learn more, visit aeroflexx.com.

Kathryn Rogers
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Jim Healy
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