SEATTLE--(BUSINESS WIRE)--Expeditors International of Washington, Inc. (NASDAQ:EXPD) today announced third quarter 2021 financial results including the following highlights compared to the same quarter of 2020:

• Diluted Net Earnings Attributable to Shareholders per share (EPS¹) increased 87% to $2.09
• Net Earnings Attributable to Shareholders increased 88% to $359 million
• Operating Income increased 94% to $490 million
• Revenues increased 84% to $4.3 billion
• Airfreight tonnage volume and ocean container volume increased 28% and 15%, respectively

“In a marketplace that remains severely impacted by labor and infrastructure constraints throughout the supply chain, our people continue to perform at their best by identifying, accessing, and securing available space,” said Jeffrey S. Musser, President and Chief Executive Officer. “There remains an overall deficiency of available air capacity due to a reduction of passenger belly space on international routes. Despite increased utilization of air charters, there is insufficient capacity to meet the current high demand. At the same time, unprecedented congestion at the ocean ports due to labor and equipment shortages is disrupting sailing schedules and causing significant delays. There is simply not enough equipment, warehouse and pier space, or people in the locations where they are needed to meaningfully reduce the significant backlogs of cargo. Handling record volumes under these conditions has not been easy, but we continue to set records for company performance by servicing our customers at the highest level.

“The entire global infrastructure for the movement of cargo remains stretched beyond its limits. While certain ocean ports are particularly constrained, most notably on the U.S. west coast, many of the current bottlenecks stem from supply and infrastructure issues that were building well before the pandemic. The global reaction to COVID-19, including lockdowns, facility closures and spikes in demand for certain products, exposed and exacerbated those long-simmering issues. Unfortunately, there is no simple or immediate fix. As a result, we believe these current conditions are likely to last well into 2022.

“We also believe, as we always have, that our company’s best strategy for achieving ongoing success in servicing our customers and growing our business depends on our strong culture of close collaboration. As many of the most restrictive pandemic precautionary measures are being lifted around the world, we are carefully bringing our people back to on-site work in a measured and cautious manner. Our view is that the stresses of so many of our people working at such an accelerated pace from so many remote, off-site locations would be unsustainable over the long term.”

Bradley S. Powell, Senior Vice President and Chief Financial Officer, added, “Our strong results continue to demonstrate our ability to adapt and perform exceptionally well on behalf of our customers under very trying conditions. Demand continues to far outstrip available capacity. Buy and sell rates for both air and ocean remain elevated and erratic. Despite those conditions, our operating efficiency is strong, even as each individual shipment requires more resources and greater attention, and conditions change rapidly. While we are performing exceptionally well under these trying circumstances, I continue to caution that we are unable to predict how long the current conditions will persist or the impact they will have on our future operations.”

Expeditors is a global logistics company headquartered in Seattle, Washington. The Company employs trained professionals in 176 district offices and numerous branch locations located on six continents linked into a seamless worldwide network through an integrated information management system. Services include the consolidation or forwarding of air and ocean freight, customs brokerage, vendor consolidation, cargo insurance, time-definite transportation, order management, warehousing and distribution and customized logistics solutions.

During the nine months ended September 30, 2021 and 2020, we repurchased 2.0 million and 4.4 million shares of common stock at an average price of $110.45 and $71.41 per share, respectively.

Investors may submit written questions via e-mail to: This email address is being protected from spambots. You need JavaScript enabled to view it.. Questions received by the end of business on November 5, 2021 will be considered in management's 8-K “Responses to Selected Questions.”

Disclaimer on Forward-Looking Statements:

Certain statements contained in this news release are “forward-looking statements,” based on management’s views with respect to future events and underlying assumptions that involve risks and uncertainties. These forward-looking statements include statements regarding the future stabilization of supply/demand imbalance and rate volatility; the continued unsettled operating environment due to continued scarce air and ocean capacity; elevated air and ocean pricing and an increase in demand for such services; port congestion; equipment imbalances; labor shortages; insufficient warehouse and pier space; trade disruptions; rising fuels costs; and the uneven lifting of the COVID-19 pandemic restrictions. Future financial performance could differ materially because of factors such as: our ability to leverage the strength of our carrier relationships to secure space; the strength of our non-asset-based operating model; our expectation that the supply/demand imbalance and rate volatility will continue for the remainder of 2021 and likely well into 2022, and will stabilize over time; our ability to re-open our offices for return-to-work; our ability to continue to enhance our productivity; our expectation that the current unprecedented operating conditions will not persist long-term; our ability to invest in our strategic efforts to explore new areas for profitable growth; and our ability to remain a strong, healthy, unified and resilient organization. The COVID-19 pandemic could have the effect of heightening many of the other risks described in Item 1A of our Annual Report on Form 10-K, including, without limitation, those related to the success of our strategy and desire to maintain historical unitary profitability, our ability to attract and retain customers, our ability to manage costs, interruptions to our information technology systems, the ability of third-party providers to perform and potential litigation as updated by our reports on Form 10-Q, filed with the Securities and Exchange Commission. These and other factors are discussed in the Company’s regulatory filings with the Securities and Exchange Commission, including those in “Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The forward-looking statements contained in this news release speak only as of this date and the Company does not assume any obligation to update them except as required by law.

Jeffrey S. Musser
President and Chief Executive Officer
(206) 674-3433

Bradley S. Powell
Senior Vice President and Chief Financial Officer
(206) 674-3412

Geoffrey Buscher
Director - Investor Relations
(206) 892-4510

BURLINGTON, Ontario--(BUSINESS WIRE)--$ANRG #ANRG--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG), an integrated waste-to-value platform created to eliminate greenhouse gases by cost-effectively turning organic waste into renewable natural gas, fertilizer, and water, will release its third quarter 2021 financial results via a news release on Thursday, November 11, 2021, before market open.

Conference Call and Webcast Details:

A conference call to review the results will take place at 11:30 a.m. (ET) on Thursday, November 11, 2021, hosted by Chairman and Chief Executive Officer Andrew Benedek, Chief Operating Officer Yaniv Scherson, and Chief Financial Officer Hani Kaissi. An accompanying slide presentation will be posted to the Investor Relations section of our website shortly before the call.

To participate on the call, please sign up to receive your personal event-joining details at the following pre-registration link:

• Conference Call Pre-registration: https://www.incommglobalevents.com/registration/q4inc/9103/anaergia-q3-conference-call-and-webcast-2021/ You will receive your access details via email.

To listen to the webcast live:

• https://event.on24.com/wcc/r/3405245/419CA039297A24C78237E06FBA1B0314

The webcast will be archived and available in the Investor Relations section of our website following the call.

About Anaergia

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

Forward-Looking Statements

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

For further information please see: www.anaergia.com

Source: Anaergia, Inc.

For media relations please contact: Melissa Bailey, Director, Marketing & Corporate Communications, This email address is being protected from spambots. You need JavaScript enabled to view it.
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ARLINGTON, Va.--(BUSINESS WIRE)--Fluence Energy, Inc. (Nasdaq: FLNC), a leading global provider of energy storage products and services and digital applications for renewables and storage, today announced the closing of its initial public offering of 35,650,000 shares of its Class A common stock, including the exercise in full of the underwriters’ option to purchase additional shares of its Class A common stock, at an initial public offering price of $28.00 per share. Proceeds from the initial public offering were $998.2 million, before deducting underwriting discounts and commissions and other offering expenses. The shares began trading on the Nasdaq Global Select Market on September 28, 2021 under the ticker symbol "FLNC."

J.P. Morgan Securities LLC, Morgan Stanley, Barclays Capital Inc., and BofA Securities are acting as joint lead book-running managers for the offering. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, UBS Securities, LLC, Evercore Group L.L.C., HSBC Securities (USA) Inc., and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Nomura Securities International, Inc., Robert W. Baird & Co. Incorporated, Raymond James & Associates, Inc., Seaport Global Securities LLC, Penserra Securities LLC, and Siebert Williams Shank & Co., LLC are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by telephone at (888) 603-5847; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on October 27, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these 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.

About Fluence

Fluence, a Siemens and AES company, is a global market leader in energy storage products and services and digital applications for renewables and storage. We have more than 3.4 GW of energy storage deployed or contracted in 29 markets globally, and more than 4.5 GW of wind, solar and storage assets optimized or contracted in Australia and California. Through our products, services and AI-enabled Fluence IQ platform, we are helping customers around the world drive more resilient electric grids and a more sustainable future.

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Leading ERCOT standalone storage developer now operating 300 megawatts of battery storage to improve Texas grid reliability

HOUSTON--(BUSINESS WIRE)--Broad Reach Power LLC (“Broad Reach”), an independent power producer based in Houston which owns a 21-gigawatt (GW) portfolio of utility-scale wind, solar and energy storage power projects across the United States, today announced its first two transmission-level projects, North Fork and Bat Cave, are online and placed in service with ERCOT. Each project is a 100-megawatt (MW)/100-megawatt-hour (MWh) greenfield battery storage resource located in Central Texas. Broad Reach now has 300 MW of dispatchable storage resources in ERCOT improving the reliability of the ERCOT system.

“The demand for new power generation in Texas, including wind and solar generation, is accelerating. Battery storage is a critical component in supplying affordable, clean power, while also enhancing Texas grid reliability. Bringing these two projects into service advances Broad Reach’s commitment to developing key energy infrastructure in Texas,” said Broad Reach Power Managing Partner & Chief Executive Officer Steve Vavrik.

Last fall, Broad Reach announced its plan to invest more than $100 million in the North Fork and Bat Cave projects. Located in Mason and Williamson Counties in Texas, the sites operate alongside Broad Reach’s expanding portfolio of utility-scale battery storage plants across Texas.

About Broad Reach Power

Broad Reach Power (“Broad Reach”) is the leading utility-scale storage platform in the United States. Based in Houston, Broad Reach is backed by leading energy investors EnCap Investments L.P., Yorktown Partners and Mercuria Energy. The company owns a 21 GW portfolio of utility-scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas which give utilities, generators and customers access to technological insight and tools for managing merchant power risk so they can better match supply and demand. For more information about the company, visit www.broadreachpower.com.

For Broad Reach Power:
Morgan Moritz
Pierpont Communications
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512-448-4950 (O)
512-745-2575 (M)

• Extends portfolio of high precision pumps and expands penetration of high-growth, sustainable end markets, including life science, food and beverage, medical, water and wastewater treatment
• Identified growth and cost savings opportunities expected to drive reduction of attractive Adjusted EBITDA purchase multiple to mid-single digits by year three of ownership

DAVIDSON, N.C.--(BUSINESS WIRE)--Ingersoll Rand Inc. (NYSE:IR), a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to acquire the assets of Tuthill Corporation’s Pump Group. The all-cash transaction, valued at $84.6 million, is expected to close in Q4, subject to customary closing conditions. Upon transaction close, the employees and brands of the Pump Group will join the Ingersoll Rand Precision and Science Technologies (PST) segment.

“This is the second business we have purchased from Tuthill Corporation and I’m excited to welcome another Tuthill team to the Ingersoll Rand family,” said Vicente Reynal, president and chief executive officer of Ingersoll Rand. “With an IRX-driven playbook in place, I’m confident the integration of the Pump Group will be as seamless and successful as the prior transaction, and will help extend our portfolio of mission critical, high margin pumping solutions within PST. This transaction aligns with our M&A focused capital allocation strategy, meets our strategic and financial criteria, and we expect it to deliver meaningful shareholder value through synergy realization, including a mid-single digit Adjusted EBITDA purchase multiple by year three of ownership.”

Tuthill’s Pump Group is a market leader in gear and rotary piston pump solutions for sustainable, high growth end markets, including life science, food and beverage, medical and water and wastewater treatment. It has two manufacturing locations in Alsip, IL and Ilkeston, UK, approximately 100 employees and annual sales of more than $25 million. Tuthill’s Pump Group is highly complementary to existing PST brands including MP, Oberdorfer and ARO, increases PST’s market presence, and provides access to new end markets, customers and applications.

“Tuthill’s Pump Group has been a part of my family for 100 years – and that is not a valid reason to deny the good people in this business the chance to team up with a powerhouse like Ingersoll Rand,” remarked James G. Tuthill, chairman of Tuthill Corporation. “The combination of this time-tested business with Ingersoll Rand’s industrial might is exciting indeed. With new wind in its sails, I can’t imagine a more promising future.”

About Ingersoll Rand Inc.
Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity and efficiency. For more information, visit www.IRCO.com.

Forward-Looking Statements
This news release contains “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including but not limited to, statements that relate to our intent to acquire the assets of Tuthill Corporation’s Pump Group, the expected benefits of the proposed transaction, the timing of the transaction and the outcome of anticipated revenue and synergy opportunities. These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Such risks and uncertainties, include, but are not limited to: our ability to timely obtain, if ever, necessary regulatory approvals of the proposed transaction; adverse effects on the market price of our ordinary shares and on our operating results because of our inability to timely complete, if ever, the proposed transaction; our ability to fully realize the expected benefits of the proposed transaction; negative effects of announcement or consummation of the proposed transaction on the market price of the company’s common stock; significant transaction costs and/or unknown liabilities; general economic and business conditions that may impact the companies in connection with the proposed transaction; unanticipated expenses such as litigation or legal settlement expenses; changes in capital market conditions; the impact of the proposed transaction on the company’s employees, customers and suppliers; and the ability of the companies to successfully integrate operations after the transaction. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Additional factors that could cause Ingersoll Rand’s results to differ materially from those described in the forward-looking statements can be found under the section entitled “Risk Factors” in its most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in its periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. The foregoing list of important factors is not exclusive.

Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

Media:
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Parcel Transportation Technology Leader Adds e-Commerce Margin Management and Real-Time Shipping Performance

ATLANTA--(BUSINESS WIRE)--#PlatinumCircle--Transportation Insight Holding Company ("TI Holdco" or "the Company"), a leading provider of non-asset, tech-enabled enterprise logistics and freight brokerage solutions in North America, today announced the acquisition of Platinum Circle Group, a leading parcel transportation technology and managed services company. The acquisition adds next generation transportation management and e-commerce technology solutions to TI Holdco’s end-to-end logistics platform. These technology solutions allow shippers to proactively manage shipping performance and product margin in real time from a single platform. Platinum Circle Group will operate as a subsidiary of TI Holdco.

“Platinum Circle Group has set the standard for technological innovation in the parcel transportation industry by incorporating real-time tracking, yield capacity and margin analytics directly into its transportation management system (TMS), which allows shippers to optimize their strategy right from the point of a shopping cart order,” said Ken Beyer, CEO, TI Holding Company. “By pairing our deep domain expertise and robust technology capabilities, we are bringing our customers breakthrough solutions across the transportation value chain.”

Platinum Circle Group, led by founders Jim Hamilton and Tim Geiken, has developed industry-leading technologies that help shippers optimize their transportation spend through a combination of data analytics and visualization tools, freight management systems, reporting solutions and a proprietary TMS. The company’s technology solutions allow shippers to optimize and manage costs in real-time from the moment an individual SKU is entered into an online shopping cart through final mile delivery. Platinum Circle Group has a 20-year track record of innovation and provides services to some of the world’s largest retailers, distributors and e-commerce companies. Jim Hamilton and Tim Geiken will continue to lead the subsidiary as part of TI Holdco’s Parcel business and will focus on accelerating the deployment of Platinum’s technology solutions to streamline workflows, integrate powerful analytics and increase flexibility throughout the supply chain.

“By teaming with TI Holdco, we are putting the pieces together to link the critical data, analytics and transportation management technologies needed to transform the transportation industry,” said Hamilton. “Our focus on delivering complete transparency and actionable insights throughout the parcel supply chain, along with TI Holdco’s strengths in brokerage, managed transportation, enterprise logistics and last mile delivery solutions, will create compelling new growth opportunities and move the industry forward.”

TI Holdco is a portfolio company of Gryphon Investors, a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management.

About Transportation Insight HoldCo

Transportation Insight HoldCo serves customers through enterprise logistics provider Transportation Insight, LLC, and freight brokerage Nolan Transportation Group. Together, these companies help shippers and carriers engineer efficient supply chain networks. Combined, the $4.3 billion TI Holdco organization serves more than 10,000 clients with logistics management services that include domestic transportation (TL, LTL, Parcel), e-commerce solutions, supply chain analytics, international transportation, warehouse sourcing, LEAN consulting and supply chain sourcing.

Ryan Rogers, TI Holding Company, 770-373-0480, This email address is being protected from spambots. You need JavaScript enabled to view it.

Provides Customers with Accelerated Greenhouse Gas Emission Reductions

TORONTO--(BUSINESS WIRE)--Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol" or the "Company"), a leader in smart building technologies, advances its SmartSuite energy management technology for integration with natural gas and hydronic heating sources for buildings.

"Our SmartSuite technology platform continues to evolve to serve the needs of our customers,” said Paul Ghezzi, CEO of Kontrol Technologies. “Historically, we have focused on electric base board heating, which is often a high source of energy waste if not fully automated and controlled. Through SmartSuite’s integration with natural gas and hydronic energy sources, we are providing our customers with the advanced solutions they require to reduce energy waste and corresponding GHG emissions within individual suites and buildings. Given the increase in the cost of natural gas and electricity our technology solutions are well positioned to continue to scale across North America.”

Technology Payback and Portfolio Advantage

A Kontrol SmartSuite customer will typically evaluate the technology on a payback model. Historically, SmartSuite has been able to generate a 3-year or less payback, driven by energy and operational savings.

SmartSuite’s proprietary software can manage, analyze, and report all suites and all buildings on one unified and simple dashboard. This allows customers to manage entire portfolios in the cloud and identify best to worst performing suites or buildings in real-time.

“Because SmartSuite does not require a hard-wire installation and operates with a proprietary mesh network in each building, we have the ability to offer a more streamlined installation and scaling proposition to our customers. In addition, creating value through the monetization of carbon credits can deliver a new recurring revenue source to Kontrol as well as to our partner customers,” concluded Ghezzi.

GHG Emission Reduction Targets

Based on target installations of an additional 600 buildings over the next 3 years, SmartSuite can deliver up to 300 million in kilowatt hour energy savings and up to 400,000 tonnes of GHG emission reductions (or 400-million-kilogram equivalent). SmartSuite operates by automating heat sources and air conditioning sources with various real-time in-suite sensors to eliminate energy waste, optimize energy performance and reduce emissions.

source: www.epa.gov

The Importance of Carbon Offsets to drive lower GHG emissions

Carbon emitters can offset their unavoidable emissions by purchasing carbon credits emitted by projects that are targeted at removing or reducing GHG from the atmosphere. Companies can participate in the voluntary carbon market either individually or as part of an industry-wide program.

While compliance markets are currently limited to carbon credits from a specific region, voluntary carbon credits are significantly more fluid, and less constrained by boundaries set by nation-states. They also have the potential to be accessed by every sector of the economy instead of a limited number of industries.

According to S&P Global Platts’ CEC assessments, the spot market is variable for specific vintages and for delivery of carbon credits. In the current year and most recently has reached $40 USD per metric ton of carbon dioxide equivalent (mtCO2e).

About Kontrol Technologies Corp.

Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com

https://facebook.com/kontroltechcorp/
https://twitter.com/kontrolgroup
https://www.linkedin.com/company/kontrol-group

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.

However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company's product and service offering as expected; and government and regulatory factors impacting the energy conservation and carbon credit industry.

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

Kontrol Technologies Corp.
Paul Ghezzi
CEO
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Tel: (905) 766.0400

Investor Relations:
Brooks Hamilton
MZ Group – MZ North America
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Tel: +1 (949) 546-6326

Report highlights progress towards global goals and sets new PCR and virgin plastic packaging targets

NEW YORK--(BUSINESS WIRE)--Today, The Estée Lauder Companies Inc. (NYSE: EL) (ELC) released its Fiscal Year 2021 Social Impact and Sustainability (SI&S) Report. The Beauty Inspired, Values Driven report underscores progress towards the company’s social impact and sustainability goals and commitments and highlights initiatives across key areas including inclusion, diversity, and equity; climate; packaging; social investments; responsible sourcing; and green chemistry.

In fiscal year 2021, the company remained on track to achieve its social impact and sustainability goals, while generating exceptional business results and continuing to navigate challenges related to the COVID-19 pandemic.

“Despite the pandemic, we remained steadfast in prioritizing the health and wellbeing of our employees, consumers, and communities around the world, while delivering on our long-term commitments,” said Fabrizio Freda, President and Chief Executive Officer, The Estée Lauder Companies. “Doubling down on our social impact and sustainability strategy is an important part of our goal to continue delivering long-term value and remain the global leader of prestige beauty.”

“As The Estée Lauder Companies marks its 75th anniversary, it is important to recognize that the company’s success has long been rooted not only in its business strategy, but in a deep understanding of its core values,” said William P. Lauder, Executive Chairman, The Estée Lauder Companies. “These values, including respect for the individual, uncompromising ethics and integrity, generosity of spirit, and fearless persistence are what will accelerate our commitments into the next 75-years and beyond.”

Across the business and within its brand portfolio, the company’s achievements over the last fiscal year include progress toward the company’s Racial Equity and Gender Equality commitments, the achievement of its post-consumer recycled (PCR) material goal ahead of schedule and the setting of additional packaging targets. The company also made strong progress on its science-based targets (SBTs) for Scopes 1 and 2 and continued to make efforts towards meeting its Scope 3 SBT. Additionally, The Estée Lauder Companies Charitable Foundation (ELCCF) deepened its commitment to girls’ education and expanded its mission to include women’s advancement, and the company continued to support employees facing financial hardships due to COVID-19 through its ELC Cares Employee Relief Fund.

“In fiscal 2021, we worked hard to continue developing long-term solutions to help protect our planet, drive inclusion and equity, and put people at the heart of everything we do—all while meeting our business objectives,” said Nancy Mahon, Senior Vice President, Global Corporate Citizenship and Sustainability, The Estée Lauder Companies. “While we’ve made great progress, we know there is more collective action needed to help address ongoing and new challenges in the next decade.”

Read and download the Fiscal 2021 Social Impact & Sustainability Report on ELCompanies.com.

Highlights from the SI&S Report include:

Inclusion, Diversity and Equity

• The company continued to make progress towards its Racial Equity commitments, as announced in June 2020, and also announced a new set of commitments to Gender Equality, inclusive of achieving gender pay equity by 2023 and globally increasing representation of women from underrepresented groups across our regions and affiliates.
• In fiscal 2021, the company reported that 82 percent of its global workforce is female, and 46 percent of its U.S. workforce is Black, Indigenous, and People of Color (BIPOC). Fifty-five percent of global VP positions and above at the company are held by women and 44 percent of the Board of Directors are women.
• The company also established an Equity and Engagement Center of Excellence to drive progress towards achieving equity across the organization and develop pathways to further opportunity and advancement for all employees.

Climate & Energy

• The company was named to the CDP Climate A List in 2020, achieving a distinction reached by only the top 5 percent of the more than 5,800 companies scored. ELC was also honored with RE100’s 2021 Enterprising Leader Award, acknowledging the company’s progress and leadership in the global transition to 100% renewable electricity.
• In fiscal 2021, the company made strong progress on its Scope 1 and 2 SBT and continued to make efforts towards meeting its Scope 3 SBT.
• The company’s largest renewable energy agreement to date — a 22 MW Virtual Power Purchase Agreement for a wind farm in Oklahoma — became fully operational, generating enough clean, renewable energy to cover its entire North America operations.
• ELC expanded its renewable energy portfolio through a new, on-site solar installation in Hillmount, Canada, bringing its total solar capacity to 5.7 MW. The company generated a cumulative total of more than 5,000 MWh of solar energy in fiscal 2021, supporting both progress toward its SBTs and helping meet its facilities’ energy needs with green power.

Packaging

• The company achieved its PCR goal ahead of schedule and announced a more ambitious goal to increase the amount of PCR material in its packaging to 25 percent or more by the end of calendar year 2025.
• In addition, the company announced a new goal to reduce the amount of virgin petroleum plastic in its packaging to 50 percent or less by the end of calendar year 2030.
• In fiscal 2021, 89 percent of the company’s forest-based fiber cartons were FSC certified, increasing from 28 percent in fiscal 2019, driving progress towards its goal to have 100 percent of its forest-based fiber cartons FSC certified by the end of calendar year 2025.

Product Formulation

• In fiscal 2021, the company integrated an innovative green chemistry program into its product development process, enabling visibility into the green chemistry profile of new product launches. The company is moving quickly to advance this work, especially in light of growing consumer interest in product formulation.
• As part of the company’s goal to have all brands publish key ingredient glossaries by the end of calendar year 2025, fiscal 2021 saw an additional seven brands — Estée Lauder, M·A·C, Bobbi Brown, Bumble and bumble, Editions de Parfums Frédéric Malle, GLAMGLOW, and Smashbox — publish ingredient glossaries on their websites.

Responsible Sourcing

• To help support women who work within and around its supply chains, the company completed a successful two-year HERproject program in its packaging supply chain in fiscal 2021, in partnership with Business for Social Responsibility (BSR). As the first beauty company to sign on with the program, ELC is now expanding the program into agriculture, targeting shea, through a grant from ELCCF. The program will draw on existing HERproject curriculum modules such as gender awareness, communication skills, problem solving, financial planning, and wellness. The objective is to develop a HERproject model for the agricultural sector that may serve as a blueprint across ingredient supply chains, as well as become available to the wider beauty industry.
• In addition, in fiscal 2021, the company joined the Global Shea Alliance, a nonprofit industry association that promotes sustainability, quality practices, and standards for shea in food and cosmetics.

Social Investments

• The company’s flagship social impact programs underpin its global social investment strategy. For example:
  • Founded in 1992 by the late Evelyn H. Lauder with the launch of the iconic Pink Ribbon, The Breast Cancer Campaign (BCC) is ELC’s largest corporate social impact program. Together, BCC and ELCCF have funded more than $108 million for lifesaving global research, education, and medical services.
  • The company’s groundbreaking M·A·C VIVA GLAM campaign has raised more than $500 million since 1994 for the global fight against HIV/AIDS and its mission to support health and rights for all, with a focus on women and girls and the LGBTQIA+ community.
• In fiscal 2021, ELCCF deepened its commitment to girls’ education and expanded its mission to include women’s advancement, launching strategic partnerships with organizations such as:
  • Co-Impact: ELCCF became an inaugural donor to Co-Impact's Gender Fund with a pledge of $15 million over five years focused on achieving transformative systems change for gender equality.
  • Grantmakers for Girls of Color (G4GC): ELCCF committed to support G4GC’s Black Girl Freedom Fund, building upon the company’s existing commitment to girls’ education and racial equity with an added emphasis on reaching local groups at the intersection of race and gender.
  • Plastics for Change: ELCCF’s partnership helps to enhance livelihoods for waste collectors in India, the majority of whom are women, while diverting plastics from the ocean.
  • The Young Women’s Leadership Schools (TYWLS): A longtime partner with the Student Leadership Network’s TYWLS program, in fiscal 2021, ELCCF increased its longstanding support to include all TYWLS New York City schools serving girls in high school.

Employee Experience

• To support members of its global family facing financial hardships due to COVID-19, the ELC Cares Employee Relief Fund awarded more than 13,700 grants and distributed more than $7.9 million through June 30, 2021 to employees worldwide.
• Through the globalization of ELC Good Works, the company’s charitable matching gifts and volunteerism platform, employees created and signed up for volunteer activities as well as requested to have their donations and volunteer hours matched by the company. In fiscal 2021, $2.9 million was collectively donated to more than 3,500 nonprofits on the platform in 19 markets globally.
• The company received 68 National Safety Council Awards in three categories, across 36 supply chain and R&D facilities and 14 global brand operations, with some facilities receiving multiple awards.

About The Estée Lauder Companies Inc.

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, Tommy Hilfiger, M·A·C, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin Paris, TOM FORD BEAUTY, Smashbox, Ermenegildo Zegna, AERIN, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced and Dr. Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.

CAUTIONARY NOTE

This press release and the related Social Impact and Sustainability Report (the “report”) contain information about our social impact and sustainability goals, targets, initiatives, commitments, and activities. These efforts involve certain risks and uncertainties, such as changes in our business (e.g., acquisitions, divestitures, or new manufacturing or distribution locations), the standards by which achievement is measured, the assumptions underlying a particular goal, and our ability to accurately report particular information. This press release and the report include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our social impact and sustainability goals, targets, initiatives, commitments, and activities, as well as our future operations and long-term strategy. Although we believe that our expectations are based on reasonable assumptions within the bounds of our knowledge of our business and operations, we cannot assure that actual results or outcomes will not differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Forward-looking statements include all statements that do not relate solely to historical or current facts and involve a number of known and unknown risks, uncertainties, and other important factors such as those described in the report and in our recent SEC filings including in “Item 1A. Risk Factors” and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended June 30, 2021 and in our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We assume no responsibility to update the information contained in this press release or the report or to continue to disclose any information.

ELC-C
ELC-I

Media: Bari Seiden-Young
(212) 572-4475
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Project will provide 20 MW, 50 MWh energy storage system bolstering grid reliability

DALLAS & MONTEREY, Calif. & SUNNYVALE, Calif.--(BUSINESS WIRE)--Leeward Renewable Energy, Central Coast Community Energy (CCCE) and Silicon Valley Clean Energy (SVCE), today announced that construction has commenced on the Rabbitbrush Solar project located in Kern County, California. Leeward previously signed two 15-year power purchase agreements (PPAs) with CCCE and SVCE.

McCarthy Building Companies, a national construction company serving as EPC (Engineer, Procure, Contractor) on the solar project, has initiated construction for the 100-megawatt (MW) Rabbitbrush facility, which also includes a 20 MW, 50 MWh battery energy storage system - bolstering the resiliency and reliability of the California energy grid. The project will consist of over 415,000 First Solar thin-film photovoltaic modules.

The Rabbitbrush Solar Project will bring significant economic investment to Kern County, including benefits for local businesses. It is expected to generate roughly 300 new union jobs secured under a project labor agreement, during construction, as well as long-term operations jobs. When fully operational, Rabbitbrush will generate enough clean solar energy to serve the needs of nearly 40,000 homes per year, displacing approximately 48,000 metric tons of carbon dioxide (CO2) annually—the equivalent of taking 10,500 cars with internal combustion engines off the road.

“Starting construction on the Rabbitbrush facility is a monumental milestone for Leeward and is the first solar project we have constructed since integrating First Solar’s solar development platform in early 2021, with many more ahead,” said Jason Allen, Leeward’s Chief Executive Officer. “We are proud to partner with not-for-profit, community-owned electricity providers SVCE and CCCE to deliver clean, reliable renewable power to their customers and play a key role in advancing California’s zero carbon energy goals.”

"With our shared commitment to environmental standards as we accelerate California's clean energy transition, we are excited to partner with Leeward and Silicon Valley Clean Energy on the California Rabbitbrush Solar Project,” shares Tom Habashi, CEO of Central Coast Community Energy. “This solar + storage project reaffirms CCCE's goal of sourcing renewable energy on behalf of the Central Coast."

“This project will contribute significantly to displacing greenhouse gas emissions, while providing clean energy jobs to Californians,” said Girish Balachandran, SVCE CEO. “Leeward and SVCE’s vision for this project align closely with our mission of providing communities with affordable, renewable electricity, while also helping to reliably transition to a clean grid.”

Construction on the Rabbitbrush Solar Project is expected to be completed by end of July 2022, and the facility is estimated to begin operation by the end of August 2022.

CCCE and SVCE are California Community Choice Aggregators (CCAs), procuring clean, renewable electricity and providing decarbonization program funding to 670,000 customers. As a new solar-plus-storage facility, the Rabbitbrush project will help the CCAs achieve their part of a recent order for the state to build at least 11.5 GW of new resources by 2026 (CPUC D.21-06-035).

About Leeward Renewable Energy, LLC
Leeward Renewable Energy is a leading renewable energy company that owns and operates a portfolio of 21 renewable energy facilities across nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S., with 17 gigawatts under development spanning over 100 projects. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with $114 billion in net assets (as at June 30, 2021). For more information, visit www.leewardenergy.com.

About Silicon Valley Clean Energy
Silicon Valley Clean Energy is a not-for-profit, community-owned agency providing clean electricity from renewable and carbon-free sources to more than 270,000 residential and commercial customers in 13 Santa Clara County jurisdictions. As a public agency, net revenues are returned to the community to keep rates competitive and promote clean energy programs. Silicon Valley Clean Energy is advancing innovative solutions to fight climate change by decarbonizing the grid, transportation, and buildings. Learn more at SVCleanEnergy.org.

About Central Coast Community Energy
Central Coast Community Energy is a public agency that sources competitively priced electricity from clean and renewable energy resources. CCCE is locally controlled and governed by board members who represent each community served by the agency. Revenue generated by CCCE stays local and helps keep electricity rates affordable for customers, while also funding innovative energy programs designed to lower greenhouse gas emissions and stimulate economic development. CCCE serves more than 400,000 customers throughout the Central Coast, including residential, commercial and agricultural customers in communities located within Monterey, San Benito, San Luis Obispo, Santa Barbara and Santa Cruz counties. Learn more at 3CEnergy.org and on social media, including Facebook, Instagram and Twitter @3CEnergy.

For more information:
Leeward
Kelly Kimberly
Sard Verbinnen & Co.
713.822.7538
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Silicon Valley Clean Energy
Michaela Pippin
Communications Specialist
408-721-5301 x1020
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Central Coast Community Energy
Peter Berridge
Manager of Energy Communications
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+831-641-7204

The 25-year Energy as a Service project makes JP II the first retrofitted carbon neutral school in Canada

FRAMINGHAM, Mass. & TORONTO--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in eliminating the carbon emissions of buildings, energy efficiency and renewable energy, today announced the commercial operation of its carbon reduction, energy savings, and smart grid project with the London District Catholic School Board’s (LDCSB) John Paul II Catholic Secondary School (JP II). The comprehensive microgrid and facility renewal project makes JP II Canada’s first retrofitted carbon neutral school, a historic step in the country’s efforts to meet progressive climate change targets.

Upgrades made to the educational facility include the installation of 2,700 covered carport solar panels (providing 825 kW DC of power), piping for a geothermal heating and cooling system, a 2.2MWh electrical energy storage system and 4 electric vehicle charging stations. Implemented improvements will greatly reduce greenhouse gas emissions, previously required to heat, cool and provide electricity to the school, to near zero and remove approximately 277 tons of carbon on a yearly basis. All of these efforts help advance the country’s ‘Investing in Canada’ infrastructure plan, which pushes for the prioritization of energy-efficient buildings and smart grids.

By utilizing the innovative Energy as a Service (EaaS) financial model, Ameresco implemented solutions that not only helped JP II become completely energy self-sufficient, but that also delivered significant cost savings from a 68% reduction in baseline electricity costs. Ameresco helped secure an investment of $4.5 million from Natural Resources Canada’s Energy Innovation Program. The school also received funding from the Independent Electricity System Operator’ s Grid Innovation Fund to demonstrate how the system could also provide both the local and bulk transmission grid with emission free energy and ancillary support services to the electricity grid.

“This project embodies how the electricity system is evolving, allowing a school to use a suite of emerging technologies to save energy costs and reduce emissions,” says Katherine Sparkes, Director of Innovation, Research and Development at the IESO. “What’s really innovative about this project is that it will allow us as grid operator to test how John Paul II Catholic Secondary School can contribute to the reliability and affordability of the provincial grid.”

Ameresco has worked with the LDCSB on a variety of projects worth more than $50 million across LDSCB facilities during the last 10 years.

The work done at JP II positions the school as a national leader in carbon reductions and a model for not only other educational facilities throughout Canada, but all facilities across all sectors, proving that construction of a carbon-free facility is a technically viable option.

“We are thrilled to continue our partnership with the London District Catholic School Board by collaborating on such a monumental project,” said Bob McCullough, President, Ameresco Canada. “Our work with JP II is a wonderful illustration of how a complex project seemingly far beyond a facility’s budget can be completed through flexible funding and adaptation. This sets the stage for how other educational institutions can implement infrastructures to achieve carbon neutral goals in the future.”

Construction for the project was completed in May 2021.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

About John Paul II Catholic Secondary School
The current John Paul II Catholic Secondary School, completed in 1991, is located in London, Ontario, Canada and is part of the London District Catholic School Board (LDCSB). The LDCSB system has more than 23,000 students in 43 elementary and 9 secondary schools, providing young people with a full range of education experiences from Junior Kindergarten through to the completion of sec​ondary school. In addition, Continuing Education for adult learners is available.​​

About the Independent Electricity System Operator (IESO)
The IESO operates Ontario’s power grid 24 hours a day, 365 days a year, ensuring Ontarians receive a reliable and cost-effective source of power when and where they need it. It works with sector partners and engages with communities across Ontario to plan and prepare for the province’s electricity needs now and into the future. The IESO’s Grid Innovation Fund advances innovative opportunities to achieve electricity bill savings for Ontario ratepayers by funding projects that either enable customers to better manage their energy consumption or that reduce the costs associated with maintaining reliable operation of the province’s grid.

The announcement of achieving commercial operations for an energy asset is not necessarily indicative of the timing or amount of revenue from the energy asset, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. This project was included in our previously reported assets in operation as of September 30, 2021.

Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
London District Catholic School Board: Mark Adkinson, 519-663-2088 x40015, This email address is being protected from spambots. You need JavaScript enabled to view it.

In partnership with Save the Children, American Express plans to support projects to help address the impacts of climate change on vulnerable communities in Africa and Asia

• Company has joined the World Economic Forum’s Clean Skies for Tomorrow Coalition and Global Future Council on Sustainable Tourism to help promote sustainable travel practices
• Actions follow recently announced commitments to net-zero carbon emissions by 2035 and provide at least $10 million in philanthropic funding to advance climate solutions by 2025

NEW YORK--(BUSINESS WIRE)--During the United Nations Climate Change Conference of the Parties (COP26), American Express (NYSE: AXP) has announced new initiatives to build on its commitment to advance climate solutions.

To help fight the impact of climate change on the most vulnerable populations across Asia and Africa, the company has partnered with Save the Children UK to develop and execute programs that engage youth to help reduce food insecurity exacerbated by climate change, support climate-resilient economic development and skills training through green job opportunities, and strengthen early warning systems to help these communities better prepare for extreme weather events, among other initiatives. As part of these activities, the American Express Foundation is providing a $600,000 grant to Save the Children UK to support its Adolescent Skills for Successful Transition program to educated youth on sustainable practices and products, and fund the development of its Green Climate Fund pipeline to develop youth-led climate adaptation projects.

In addition, American Express is supporting efforts to advance the travel industry’s transition to a sustainable and low-carbon future. The company has joined the World Economic Forum’s Clean Skies for Tomorrow Coalition which is focused on transitioning to sustainable aviation fuels and achieving carbon neutral air travel across the aviation sector. American Express has joined the Forum’s Global Future Council on Sustainable Tourism, which includes government; business; and academic leaders, to advance innovation on inclusive and sustainable tourism.

“Meeting the ambitious targets in the path to net-zero aviation requires all actors in the ecosystem to take action. The role of financial institutions, especially those such as American Express with a broad footprint in travel, is crucial to overcoming some of the challenges and barriers to achieving a sustainable future for the industry,” said Lauren Uppink Calderwood, Head of Aviation, Travel and Tourism Industries, World Economic Forum.

“As part of American Express’ commitment to advancing climate solutions as a core pillar of our Environmental, Social, and Governance strategy, we are focused on helping build more climate-resilient and equitable communities,” said Madge Thomas, Vice President of Corporate Social Responsibility at American Express. “In our partnership with Save the Children, we plan to co-create innovative approaches to combat the effects of climate change in some of the most vulnerable communities in the world through programs that empower young people and support sustainable economic development opportunities.”

The financial support for Save the Children is part of American Express’ commitment to provide at least $10 million in philanthropic funding to support climate initiatives, partnerships, and programs from 2021 through 2025. The company will become a key seed funder for projects that Save the Children is developing for submission to the Green Climate Fund with partner governments in Ethiopia, Malawi, Somalia, and Sierra Leone.

“Save the Children is committed to supporting children and communities who are on the frontline of the climate crisis. Our partnership with American Express is expected to enable us to scale up innovative climate solutions in communities most impacted by the climate emergency,” said Caroline Whatley, Director of Partnerships at Save the Children. “We look forward to working with American Express to ensure young people can develop their own climate resilient communities and create more sustainable pathways for the next generation.”

American Express also announced in September that it has committed to net-zero emissions by 2035, in alignment with the Science Based Targets initiative (SBTi) methodology and its ambitious objective of limiting global warming to 1.5^oC, a critical target set out by the 2015 Paris Agreement.

To learn more about American Express’ sustainability initiatives and overall ESG strategy, visit the company’s 2020-2021 ESG report.

ABOUT AMERICAN EXPRESS

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services and corporate responsibility information: personal cards, business cards, travel services, gift cards, prepaid cards, merchant services, Accertify, Kabbage, Resy, corporate card, business travel, diversity and inclusion, corporate responsibility, and Environmental, Social, and Governance reports.

ABOUT SAVE THE CHILDREN:

Save the Children fights every single day for children’s futures. We stand side by side with children in the toughest places to be a child. In places where others won’t go, we’re there, giving everything to make sure they survive, get protected, and have the chance to learn. Every child should get to make their mark on the world and build a better future for us all.

For more information visit www.savethechildren.org.uk

Follow us on Twitter, Facebook, Instagram and YouTube

Source: American Express Company

Location: Global

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements, which are subject to risks and uncertainties. The forward-looking statements contain words such as “expect,” “estimate,” “anticipate,” “intend,” “plan,” “will,” “may,” “should,” “could,” “would,” “likely,” and similar expressions. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in American Express’ filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. American Express undertakes no obligation to update or revise any forward-looking statements.

Media:
Andrew R. Johnson, This email address is being protected from spambots. You need JavaScript enabled to view it., +1.212.640-8610
Azar Boehm, This email address is being protected from spambots. You need JavaScript enabled to view it., +1.212.225.4052

New 4000K linear and UFO high bay series with advanced lighting controls maximizes energy savings

NORTON SHORES, Mich.--(BUSINESS WIRE)--EarthTronics, dedicated to developing innovative energy-saving lighting products that provide a positive economic and environmental impact, introduces its Natural White High Bay LED Series that offers energy efficiency with reduced glare to provide visual comfort in warehouse and manufacturing environments.

The EarthTronics high bay product line includes a long list of Natural White 4000K fixtures and Daylight 5000K fixtures. These products are engineered to maintain energy efficiency while providing 80+ CRI quality of light for improved visual acuity no matter which light source is specified for the application.

Available in both linear and UFO product lines, the Natural White High Bay LED Series offers a wide range of light levels from 13,000 to 44,000 lumens. The series expansion includes driver options for 120-277V, 120-347V and 347-480V operation. All EarthTronics High Bay Series fixtures feature 0 – 10V dimming which works with customized controls for use in daylight harvesting to meet specific energy codes.

The Natural White High Bay LED Linear Series is available with an integral multifunctional sensor and accepts external sensors with capabilities ranging from simple occupancy sensing to group mesh control. The UFO Series features an easy “twist” installation multi-functional sensor and is equipped with 12VDC for powering networked lighting controls.

The Natural White High Bay LED Series is built to perform in extreme temperature ranges, operating from 135°F down to -40°F. These fixtures are approved by the Design Lights Consortium (DLC), are UL and ETL listed for use in the USA and Canada. This new LED series has a performance life exceeding 90,000 hours. For more information about the Natural White or Daylight High Bay LED Series from EarthTronics, visit LED Highbay.

The Natural White High Bay LED Series may be accepted for utility rebates in many markets. For more information about the rebate, visit https://www.earthtronics.com/rebate-finder/catalog/ or call (866) 632-7840.

About EarthTronics

Dedicated to creating a positive impact for the environment, businesses and consumers, EarthTronics, Inc. is an LED energy efficient solutions company based in Muskegon, Michigan. EarthTronics offers high-performance EarthBulb LED light bulbs, T8 and T5 linear LEDs, and LED fixtures that are designed for commercial buildings, hotels, restaurants, retail stores and residential homes. All EarthTronics LED products provide energy savings with a solid return on investment for energy retrofits, renovation projects and new construction. More information can be found at www.earthtronics.com.

Brian Bloom
Falls Communications
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216-696-0229

2^nd Gen PlantPAx® Solution-in-a-Box with ztC™ Edge and Stratus Edge Computing Experience accelerate edge deployment and illustrate paths to success at the edge

MAYNARD, Mass.--(BUSINESS WIRE)--#automationfair--Stratus Technologies, a global leader in simplified, protected, and autonomous Edge Computing platforms, today announced that it will showcase its 2^nd generation Solution-in-a-Box control architecture running PlantPAx on ztC Edge and the industry’s first immersive Edge Computing experience, Stratus ECX, at Rockwell Automation’s Automation Fair®, November 9-11 in Houston, TX.

“All industries are looking for turnkey solutions to scale control and automation at the edge,” said Stephen Greene, Vice President of Global Business Development and Marketing at Stratus. “Working closely with Rockwell Automation, we are delivering validated architectures that save engineering time, enable rapid deployment, and simplify OT and IT management. Our 2^nd Gen PlantPAx Solution-in-a-Box is a highly reliable, redundant and virtualized solution, and our virtual Edge Computing Experience demonstrates what can be accomplished today with this and other solutions.”

Stratus’ 2^nd Gen Solution-in-a-Box Control Architecture

Stratus’ 2^nd Gen Solution-in-a-Box architecture, developed and characterized with Rockwell Automation, features PlantPAx running on Stratus’ second generation ztC Edge platform, announced in August, for turnkey deployment in Food & Beverage, Pharma Manufacturing, Chemicals, Oil & Gas, Water and Wastewater, and other industrial automation environments. ztC Edge 250i delivers 2X performance and expands the Solution-in-a-Box architecture to support larger I/O counts and more sophisticated applications.

The following 2^nd Gen Solution-in-a-Box architecture is validated and approved by Rockwell Automation and Stratus for deployment by end users and SIs:

• Rockwell Automation PASS-C template, includes:
  • FactoryTalk® View SE
  • FactoryTalk® Studio 5000®
  • FactoryTalk® Historian
  • FactoryTalk® AssetCentre
  • FactoryTalk® VantagePoint®
• Rockwell FactoryTalk® Batch
• Rockwell Automation Application Server OWS virtual template(s)
• Stratus ztC Edge 250i in fault tolerant mode
• Supports up to 5,000 I/Os and 10,000 tags with up to 20 thin clients

Stratus will present “Rapid Deployment of PlantPAx Solution-in-a-Box for Discrete and Process Manufacturing Control Architectures” in Room 320A at Automation Fair on:

• Wednesday, Nov. 10 at 9 a.m. CT
• Thursday, Nov. 11 at 9 a.m. CT

Stratus Edge Computing Experience (ECX) Illustrates Success at the Edge

Operational excellence at the edge continues to be a critical success factor for the industrial sector to transform processes and harness data for new insight and efficiency. Edge Computing platforms provide the decentralized, local processing and reliability to run business critical software, modernize infrastructure, and enable new architectures for Industry 4.0 and IoT technologies.

To illustrate the wide range of Edge Computing use cases and environments in industrial automation, Stratus developed the Stratus Edge Computing Experience (ECX) which provides end users, Machine Builders, and SIs an immersive experience to explore edge automation.

Stratus will showcase the Stratus ECX at Automation Fair booth #643, and it is also available online now.

To learn more about Stratus at Automation Fair, please visit the event page.

Additional Resources

• Stratus ztC Edge
• Stratus ftServer
• Rockwell PlantPAx Solution-in-a-Box Control
• Stratus Sizing Estimator for Rockwell Automation
• Stratus Edge Computing Experience
• ROI Guidebook: Stratus ztC Edge by Nucleus Research

About Stratus

For leaders digitally transforming their operations to drive predictable, peak performance with minimal risk, Stratus ensures the continuous availability of business-critical applications by delivering zero-touch Edge Computing platforms that are simple to deploy and maintain, protected from interruptions and threats, and autonomous. For 40 years, we have provided reliable and redundant zero-touch computing, enabling global Fortune 500 companies and small-to-medium sized businesses to securely and remotely turn data into actionable intelligence at the Edge, cloud and data center – driving uptime and efficiency. For more information, please visit www.stratus.com or follow on Twitter @StratusAlwaysOn and LinkedIn @StratusTechnologies

Press
DoShik Wood
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+1 978-461-7064

MacEwen adds fifty-one more gas and convenience store locations to their growing Canadian footprint

MAXVILLE, Ontario--(BUSINESS WIRE)--MacEwen Petroleum Inc., (“MacEwen”), a leading Canadian, independent fuel and retail convenience provider, announced today the acquisition of the business assets of Quickie Convenience Stores Corporation (“Quickie”). The Quickie network of fifty-one convenience stores including twenty-two gas stations, located in Eastern Ontario and Gatineau Quebec, will complement and almost double MacEwen’s portfolio of stores.

As consolidation in the convenience industry continues, MacEwen recognizes this as an ideal opportunity to not only increase their store footprint but to extend their strong brand, synonymous for excellent customer service and quality products. MacEwen will continue to put its customers first through investments in the customer experience at its existing and newly acquired stores.

Arnold Kimmel and Larry Hartman, known for their philanthropy and community support, have been co-owners of Quickie Convenience Stores Corporation for 48 years. They stated that it was important for them to pass the reins of their business to another privately owned Canadian company and viewed Allan and his son Peter as an ideal fit.

Peter MacEwen, President of MacEwen states, “Our vision for the future is to enhance the customer service experience through modernization investments across our store network. The Quickie brand has a strong legacy in Ottawa and Eastern Ontario, and we are excited to expand the brand’s presence and impact with our customers.” Peter also adds, “We are grateful for the trust that Mr. Kimmel and his team have placed in us as we embark on this exciting retail journey.”

MacEwen recognizes the strong legacy of the Quickie brand and will invest in evolving and expanding its presence across the existing MacEwen network of stores, and through new store growth.

About MacEwen

Headquartered in Maxville, Ontario and founded in 1976, MacEwen is a leading Canadian independent energy and retail convenience provider with operations in Ontario, Quebec, and Manitoba. MacEwen employs over 250 people across its active business units, namely:

1. Retail: fuel, convenience, and car wash offerings through fifty-seven controlled and eighty-five dealer managed locations.

2. Residential and Commercial Fuels: MacEwen distributes heating oil, propane, and commercial fuels through fifteen regional offices in Ontario and Quebec.

3. Wholesale and Cardlock fuel: sale of fuel to wholesale and commercial fuel customers

4. Lubricants & Diesel Exhaust Fluid: sale of lubricants and DEF to commercial customers through two centrally located warehouses in Maxville and Milton, ON.

Hélène Drolet – SVP and GM of Retail, MacEwen Petroleum Inc.
Main Telephone: 1-800-267-7175
Website: Macewen.ca
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Highly distinguished cybersecurity visionaries bring unmatched knowledge and insight to growing industrial security innovator

CHANDLER, Ariz.--(BUSINESS WIRE)--#ICS--SynSaber, an industrial asset and network monitoring solution provider, today announced the appointment of distinguished cybersecurity leaders Mark Weatherford and Ali Golshan to its advisory board. With more than two decades of experience each in the field of information security and in leadership positions at some of the world’s leading cybersecurity organizations, Weatherford and Golshan bring a wealth of experience in technology and business growth strategy, as well as added depth and breadth to SynSaber’s already impressive well of expertise.

In addition to the current positions he holds as CSO at AlertEnterprise and as the chief strategy officer and board member at the National Cybersecurity Center, Weatherford has served in a variety of executive-level cybersecurity and advisory positions, including chief cybersecurity strategist (and current advisory board member) for vArmour, global information security strategist for Booking Holdings, chief security officer at the North American Electric Reliability Corporation, and was the first chief information security officer for both California and Colorado. Additionally, Weatherford served as the deputy under secretary for cybersecurity at the U.S. Department of Homeland Security under the Obama administration.

"Reduced visibility due to proprietary technologies has always been a limiting factor in understanding what is happening inside industrial control system environments. SynSaber is taking a unique approach to industrial control system security that isn't just another security feature in the increasingly crowded landscape of security products,” said Weatherford. “The founders of SynSaber are former ICS engineers and operators who have been on the ground and understand the challenges of trying to squeeze information out of complex products. They get it, and I'm happy to be part of the SynSaber team."

Ali Golshan is the Co-founder and CEO of Gretel.ai, a privacy engineering company focused on data classification and synthetic data. Prior to Gretel.ai, Ali was Co-founder and CTO of StackRox, (acquired by Red Hat), and before that he was the Co-founder and CTO of Cyphort. Ali started his career in government, where he conducted security and vulnerability research for the intelligence community and assisted with issues related to designing resilient infrastructure.

“The SynSaber team is building an elegant and powerful solution to fill the existing gap in operational and information technology systems and critical infrastructure defense,” said Golshan. “The trends towards more processing at the edge mean that it’s important to design with scale in mind, and SynSaber is doing that in a groundbreaking way. I see incredible potential in the SynSaber product, and I am thrilled to be joining the advisory board as their innovative team works towards taking their solution to market.”

“Mark and Ali are illustrious cybersecurity leaders who have long been on the forefront of cyber threat intelligence and protection work as well as business leadership,” said Jori VanAntwerp, SynSaber CEO and co-founder. “As preeminent cybersecurity professionals, and with their extensive backgrounds serving in an advisory capacity for multiple cybersecurity technology companies, they each have a wealth of experience and incredibly successful track records to bring to the table. It is truly an honor to welcome them to the SynSaber advisory board and we look forward to their contributions.”

Launched in July of this year, SynSaber is developing a technology-agnostic solution that enables simple, effective, low-hardware, low-hassle asset and network monitoring that provides continuous insight and awareness into the status, vulnerabilities and threats across every point in the industrial ecosystem, including IIoT, cloud and on-premises.

SynSaber is now accepting applicants from companies within the energy, utilities, manufacturing, and oil and gas sectors to join its closed beta program. Organizations joining the program will receive early access to the ultra-small ICS sensor technology and will have an opportunity to help shape the future of industrial security. Learn more at www.synsaber.com or contact the company directly at This email address is being protected from spambots. You need JavaScript enabled to view it..

About SynSaber

SynSaber is the simple, flexible, and scalable industrial asset and network monitoring solution that provides continuous insight into the status, vulnerabilities, and threats across every point in the industrial ecosystem, empowering operators to observe, detect and defend OT/IT systems and protect critical infrastructure. SynSaber is privately held with funding from SYN Ventures, Rally Ventures, and Cyber Mentor Fund. Learn more at SynSaber.com.

RedIron PR for SynSaber
Kari Walker
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SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) announced today that Tiffany (TJ) Thom Cepak, Chair of the Board for CRC’s Board of Directors, has been recognized as one of the 2021 “Most Influential Black Corporate Directors” by Savoy magazine. As a leading business publication on African American success and achievement, Savoy publishes its annual definitive list recognizing and celebrating African American executives, influencers and achievers for their business leadership in national and global-leading corporations.

“CRC and its Board of Directors is proud to have TJ serve as the Chair of the Board,” said Mac McFarland, CRC's President and Chief Executive Officer. "We are fortunate to benefit from TJ’s 26 years of energy industry experience in engineering and finance, and the thoughtful leadership she brings to the company. TJ is very deserving of this achievement, and we offer our congratulations to her on this recognition of her distinguished career and enduring business contributions."

Ms. Cepak has served as a member of the CRC Board since 2020 and was appointed Chair of the Board in 2021. She also currently serves as a director for Patterson-UTI and Ranger Oil Corporation. Ms. Cepak served as Chief Financial Officer (CFO) of Energy XXI Gulf Coast Inc. from August 2017 to October 2018 and as CFO of KLR Energy from January 2015 to June 2017. She has also held various management positions with Yates Petroleum Corporation, EPL Oil & Gas, Inc., Exxon Production Company and ExxonMobil Company.

Savoy magazine’s full 2021 “Most Influential Black Corporate Directors” list is now available at http://savoynetwork.com/mibcd-2021/.

About California Resources Corporation (CRC)

California Resources Corporation (CRC) is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and we are focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing carbon capture and storage (CCS) and other emissions reducing projects. For more information about CRC, please visit www.crc.com.

Joanna Park (Investor Relations)
818-661-3731
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Richard Venn (Media)
818-661-6014
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SecurePay is a registered member of the Visa TPA and Mastercard SDP program. A certified SecurePay Gateway and OmniSoft payment acceptance platform are ready to accept Mastercard and Bitcoin transactions immediately 

NEW YORK--(BUSINESS WIRE)--$crypto--The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small- and mid-sized merchants and Bitcoin mining company, announced that it is ready to process Mastercard Bitcoin payments immediately. Merchants utilizing OLB’s OmniSoft business management platform and the company’s SecurePay Payment Gateway Platform can activate Mastercard cryptocurrency transaction processing at any time.

“The recent announcement from Mastercard that it is supporting cryptocurrency should accelerate public acceptance of Bitcoin and other currencies for conducting everyday business,” said Ronny Yakov, chief executive officer for the OLB Group. “We have enabled crypto commerce throughout our OmniSoft and SecurePay portfolio which enables merchants to offer a broad choice of payment options that match customer’s expectations.”

The SecurePay Payment Gateway Platform is a Mastercard SDP program. OLB’s platform supports the processing of multiple cryptocurrencies including Bitcoin, Ethereum, USDC, and DAI across all merchant platforms. The gateway provides traditional credit and debit card processing, digital wallet services such as Apple Pay® and Google Pay®, and crypto commerce functions including conversion to fiat currencies, as well as end-to-end cryptocurrency transactions.

Omnisoft point-of-sale (POS) options for online, mobile, and in-store use offer direct transaction support with cryptocurrency wallets such as MetaMask™, Coinbase Wallet™, Crypto.com, and Trust Wallets™. The OmniSoft platform offers merchants a simple means to configure payment options to meet the unique needs of their business and customer demographics.

Merchants interested in implementing crypto commerce or omnicommerce services can set up an OmniSoft account at https://cardaccept.com/#contact.

For more information about solutions, services, or to find a reseller, please visit www.olb.com. Investor information is available at www.olb.com/investors-data.

Future OLB Press Releases and Updates
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About The OLB Group, Inc.

The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider and Bitcoin crypto mining enterprise. The Company's eCommerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to over 9,500 merchants in all 50 states. DMint, a wholly owned subsidiary of OLB Group, is engaged in the mining of Bitcoin utilizing sustainable natural gas with an initial deployment of efficient 1,000 ASIC-based S19j Pro 96T mining computers projected by end of 2021.

Safe Harbor Statement

All statements from The OLB Group, Inc. in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements concerning the impact of COVID-19 on our operations and financial condition, our ability to implement our proprietary merchant boarding and CRM system and to roll out our Omni Commerce and SecurePay applications, including payment methods, to our current merchants and the integration of our secure payment gateway with our crowdfunding platform, our ability to successfully launch a cryptocurrency mining operation and our ability to earn revenue from the new operations. While the Company’s management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include statements regarding the expected revenue and income for operations to be generated by The OLB Group, Inc. For other factors that may cause our actual results to differ from those that are expected, see the information under the caption “Risk Factors” in the Company’s most recent Form 10-K and 10-Q filings, and amendments thereto, as well as other public filings with the SEC since such date. The Company operates in a rapidly changing and competitive environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.

Rick Lutz
The OLB Group - Investor Relations
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HOUSTON--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) ("Black Stone Minerals," "Black Stone," or "the Company") today announces its financial and operating results for the third quarter of 2021.

Financial and Operational Highlights

• Mineral and royalty production for the third quarter of 2021 equaled 33.0 MBoe/d, an increase of 2% over the prior quarter; total production, including working interest volumes, was 38.0 MBoe/d for the quarter.
• Net income and Adjusted EBITDA for the quarter totaled $16.2 million and $76.5 million, respectively.
• Distributable cash flow was $70.2 million for the third quarter, a decrease of 3% relative to the second quarter of 2021.
• Announced a distribution of $0.25 per unit with respect to the third quarter of 2021. Distribution coverage for all units was 1.35x.
• Total debt at the end of the third quarter was $99.0 million; total debt to trailing twelve-month Adjusted EBITDA was 0.3x at quarter-end. As of October 29, 2021, total debt had been reduced to $86.0 million.

Management Commentary

Thomas L. Carter, Jr., Black Stone Minerals’ Chief Executive Officer and Chairman commented, “Black Stone continues to benefit from the strong recovery in commodity prices and from incremental producer activity across the acreage position. We are seeing positive early results from operators in the East Texas Haynesville/Bossier and Austin Chalk, and we continue to focus on attracting capital to other high-net acreage in our portfolio. We posted another solid quarter with production levels well above our revised guidance, which contributed to our ability to raise our distribution for the third quarter by 25% over our previous expectations. With our very strong balance sheet position, we intend to continue to prioritize returning cash flow to our unitholders."

Quarterly Financial and Operating Results

Production

Black Stone Minerals reported mineral and royalty volume of 33.0 MBoe/d (72% natural gas) for the third quarter of 2021, compared to 32.5 MBoe/d for the second quarter of 2021. Mineral and royalty production for the third quarter of 2020 was 31.1 MBoe/d.

Working interest production for the third quarter of 2021 was 5.1 MBoe/d, representing a decrease of 11% from the levels generated in the quarter ended June 30, 2021 and a decrease of 26% from the quarter ended September 30, 2020. The continued decline in working interest volumes is consistent with the Company's decision to farm out its working-interest participation to third-party capital providers.

Total reported production averaged 38.0 MBoe/d (87% mineral and royalty, 74% natural gas) for the third quarter of 2021. Total production was 38.2 MBoe/d and 37.9 MBoe/d for the quarters ended June 30, 2021 and September 30, 2020, respectively.

Realized Prices, Revenues, and Net Income

The Company’s average realized price per Boe, excluding the effect of derivative settlements, was $38.60 for the quarter ended September 30, 2021. This is an increase of 21% from $31.79 per Boe from the second quarter of 2021 and a 112% increase compared to $18.18 for the third quarter of 2020.

Black Stone reported oil and gas revenue of $135.1 million (46% oil and condensate) for the third quarter of 2021, an increase of 22% from $110.4 million in the second quarter of 2021. Oil and gas revenue in the third quarter of 2020 was $63.4 million.

The Company reported a loss on commodity derivative instruments of $77.6 million for the third quarter of 2021, composed of a $34.1 million loss from realized settlements and a non-cash $43.5 million unrealized loss due to the change in value of Black Stone’s derivative positions during the quarter. Black Stone reported losses of $59.5 million and $21.1 million on commodity derivative instruments for the quarters ended June 30, 2021 and September 30, 2020, respectively.

Lease bonus and other income was $2.3 million for the third quarter of 2021, primarily related to leasing activity in the Haynesville Shale play and proceeds from surface use waivers on Black Stone's mineral acreage supporting solar development. Lease bonus and other income for the quarters ended June 30, 2021 and September 30, 2020 was $7.5 million and $1.4 million, respectively.

There was no impairment for the quarters ended September 30, 2021, June 30, 2021, and September 30, 2020.

The Company reported net income of $16.2 million for the quarter ended September 30, 2021, compared to net income of $15.4 million in the preceding quarter. For the quarter ended September 30, 2020, the Company reported net income of $23.7 million.

Adjusted EBITDA and Distributable Cash Flow

Adjusted EBITDA for the third quarter of 2021 was $76.5 million, which compares to $78.4 million in the second quarter of 2021 and $65.5 million in the third quarter of 2020. Distributable cash flow for the quarter ended September 30, 2021 was $70.2 million. For the quarters ended June 30, 2021 and September 30, 2020, distributable cash flow was $72.1 million and $58.8 million, respectively.

Financial Position and Activities

As of September 30, 2021, Black Stone Minerals had $3.3 million in cash and $99.0 million outstanding under its credit facility. At September 30, 2021, the ratio of total debt to trailing twelve-month Adjusted EBITDA was 0.3x. As of October 29, 2021, $86.0 million was outstanding under the credit facility and the Company had $8.6 million in cash.

Subsequent to quarter-end, Black Stone's borrowing base was reaffirmed at $400 million. Black Stone is in compliance with all financial covenants associated with its credit facility.

During the third quarter of 2021, the Company made no repurchases of units under the Board-approved $75 million unit repurchase program.

Third Quarter 2021 Distributions

As previously announced, the Board approved a cash distribution of $0.25 for each common unit attributable to the third quarter of 2021. The quarterly distribution coverage ratio attributable to the third quarter of 2021 was approximately 1.35x. The distribution attributable to the third quarter was equal to the distribution paid with respect to the second quarter of 2021, and was 67% higher than the distribution attributable to the third quarter of 2020. Distributions will be payable on November 19, 2021 to unitholders of record as of the close of business on November 12, 2021.

Activity Update

Rig Activity

As of September 30, 2021, Black Stone had 59 rigs operating across its acreage position, a slight decrease relative to the 64 rigs on the Company's acreage as of June 30, 2021 and an increase compared to the 29 rigs operating on the Company's acreage as of September 30, 2020.

Shelby Trough Development Update

Aethon has successfully turned to sales the initial two program wells and has commenced operations on four additional wells under the development agreement covering Angelina County. In October 2021, Aethon spud the first three wells under the separate development agreement covering San Augustine County.

Austin Chalk Update

Black Stone has entered into agreements with multiple operators to drill wells in the areas of the Austin Chalk in East Texas where the Company has significant acreage positions. Recent drilling results have shown that advances in fracturing and other completion techniques can dramatically improve well performance in existing Austin Chalk fields. One well has been drilled and turned to sales and five additional wells are currently being drilled under these agreements.

Update to 2021 Guidance

The Company now expects total production for 2021 to be at or near the high end of its previously revised guidance range of 34.5 to 37.0 MBoe/d. The Company expects lease operating expenses and production costs as a percentage of oil and gas revenues to be at the low end of the revised guidance ranges of $10-$12 million and 10%-12%, respectively. Black Stone expects cash and non-cash G&A to be slightly above the revised guidance ranges of $33-$34 million and $10-$12 million, respectively, due primarily to the outperformance of 2021 financial and operating results to date relative to targets.

Update to Hedge Position

Black Stone has commodity derivative contracts in place covering portions of its anticipated production for 2021, 2022, and 2023. The Company's hedge position as of October 29, 2021 is summarized in the following tables: