BOSTON--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced its recognition in the FacilitiesNet.com Vision Awards. In a year of record-breaking Vision Awards entries, an independent panel of judges chose Schneider Electric’s EcoStruxure Building Advisor as a winner in the Analytics & Management Software category.

Schneider Electric’s EcoStruxure Building Advisor is a suite of analytic monitoring services that unlocks operational performance and remote maintenance of buildings. The solution provides actionable insights into a building’s operations and identifies areas of improvement and faults to help optimize a building’s inefficiencies.

FacilitiesNet.com is the digital home for readers of Building Operating Management and Facility Maintenance Decisions magazines visited by an average of 135,000 facility professionals a month ranging from building owners, facility executives, operation heads, maintenance engineers.

The Vision Awards honor innovation and excellence in products contributing to the efficient, profitable operations and management of institutional and commercial buildings in the United States

“We are honored to be recognized by FacilitiesNet in its 2021 awards program,” said Manish Kumar, SVP of Digital Buildings, Schneider Electric. “EcoStruxure Building Advisor leverages the latest technological advancements, ensuring facilities and building managers are equipped with the most innovative tools to better enhance their buildings’ operations. There has never been a more critical time to invest in building management as mounting regulatory, energy and occupant well-being pressures push building efficiency and resiliency to the forefront.”

Kumar continued, “With the implementation of EcoStruxure Building Advisor, facilities and building managers can shift from the conventional approach of reactive, scheduled, and on-site maintenance to a more efficient and effective approach of leveraging remote, automated, continuous monitoring, and condition-based maintenance. Enterprise customers and those with multiple buildings with diverse BMS systems have particularly benefited from the open, BMS agnostic, digital twin technology and global outreach of Schneider Electric to standardize facility operations and maintenance with EcoStruxure Building Advisor.”

With EcoStruxure Building Advisor, building managers are able to respond more proactively with data-driven decisions to reduce maintenance costs, improve asset value, increase occupant satisfaction, and create more sustainable and energy-efficient buildings. Based on customer results, Schneider Electric has reported a 20% reduction in energy cost to organizations leveraging EcoStruxure Building Advisor, achieving over $20 million in cost avoidance attributable to energy savings and reducing unplanned maintenance costs.

In addition to these cost savings, EcoStruxure Building Advisor also provides:

• More accurate analysis, diagnoses, and recommendations: Using a Digital Twin approach for HVAC Equipment & Systems makes the accuracy of analysis, detailed diagnosis, and recommendation of corrective actions far superior when compared to human skill-based or rules-based software. This Digital Twin is continuously improved based on information from 200,000 HVAC equipment connected in eight different building categories across 20 countries.
• Increased efficiency and productivity: Leveraging a hybrid delivery model of remote HVAC experts and local execution teams, EcoStruxure Building Advisor has enabled completion of over 16,000 tasks, which has saved approximately 260,000 hours of on-site service engineer time to detect, diagnose and create a maintenance ticket.
• Improved tenant satisfaction: EcoStruxure Building Advisor helps achieve compliance to ISO50001 standards or sustainability goals based on energy efficiency improvements, improving indoor air quality to make buildings healthier for occupants in the building.

Organizations across the world and buildings in life-sciences, healthcare, universities, offices, airports, stadiums use Schneider Electric’s EcoStruxure Building Advisor to ensure facilities and buildings are safe, reliable, energy-efficient, and sustainable. Boston Scientific, University of Iowa, among many others, have achieved success to meet sustainability goals, claim utility incentives, and improve indoor air quality creating healthier buildings for occupants.

If you’re interested in learning more about Schneider Electric’s EcoStruxure Building Advisor, visit here.

About Schneider Electric

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

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

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

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

www.se.com

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Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.

Patented System Designed to Capture ∼ 100% of CO2 & Produce Saleable Commodities

WEST SPRINGFIELD, Mass.--(BUSINESS WIRE)--ESG Clean Energy, LLC (“ESG”), developers of Net Zero Carbon Footprints and clean energy solutions for distributed power generation, announced today it has signed a licensing deal with Viking Energy Group, Inc. (“Viking”) (OTCQB: VKIN), a majority-owned subsidiary of Camber Energy, Inc. (NYSE Amex: CEI), for exclusive rights to use ESG’s CO2-free power generation technology in all of Canada.

The agreement allows Viking to use ESG's patent rights and know-how related to stationary electric power generation, including methods to utilize heat and capture carbon dioxide. The license is exclusive for all of Canada (unlimited number of systems), and non-exclusive for up to twenty-five locations in the United States.

The ESG Clean Energy System is designed to generate clean electricity from internal combustion engines and utilize waste heat to capture ⁓ 100% of the carbon dioxide (CO2) emitted from the engine without loss of efficiency, and in a manner to facilitate the production of precious commodities (e.g. distilled/ de-ionized water; UREA (NH4); ammonia (NH3); ethanol; and methanol) for sale.

“Securing a license arrangement on this scale is a major milestone for ESG Clean Energy,” said Nick Scuderi, president of ESG Clean Energy. “This agreement enables ESG to not only expand our power generation business, but also allows us to provide more effective energy solutions outside the United States by leveraging the experience, expertise and relationships within the entire Viking and Camber organization.”

The ESG system is truly unique with its ability to create a Net Zero carbon outcome from a conventional, natural gas, internal combustion engine without loss of efficiency.

Exhaust gas contains a significant amount of water vapor and CO2 as naturally occurring byproducts of the combustion process. By separating those two elements, the ESG system can produce distilled water and other commodities.

As a result, Net Zero Carbon Footprint power production is achieved.

Besides electrical power generation, the ESG system can also be utilized in a number of different environments, including:

• Plastics Recycling Operations - Can be made more affordable and safer for the environment by providing low-cost, CO2-free heat that is critical to its processing.

• Nitrogen Removal - Can be done more efficiently and cleanly. Nitrogen can cause algae blooms in wastewater treatment plants and is a risk to human health, so its removal has become an emerging, worldwide concern.

• Stranded Natural Gas Wells - Can be effectively converted from non-operating revenue producers to operating revenue producers by incorporating the ESG system into its production process.

• Microgrids - Can be made more reliable in times of emergency with the distributed power abilities of ESG power generation when regional grids go down.

• Data Centers - Can provide large data centers with clean low-cost energy in a relatively small package

• Crypto Mining Operations - Can meet the energy demands of crypto mining operations without emitting carbon dioxide into the atmosphere.

For more information about ESG Clean Energy, please visit www.ESGcleanEnergy.com.

About ESG Clean Energy, LLC

ESG Clean Energy, LLC (ESG) develops Net Zero Carbon Footprints and clean energy solutions for businesses and power providers using natural gas. The ESG system utilizes patented, off-the-shelf technology to efficiently produce electricity while capturing and converting 100% of the carbon dioxide and water vapor, which can be used in the production of various commodities, such as distilled water, ethanol, and urea. More information about ESG Clean Energy, its technology, and its current projects can be found at www.ESGcleanEnergy.com.

Bill Wrinn
978-559-1970

Operator’s Flex Alert Requests a Second Day of Voluntary Conservation from 4 p.m. to 9 p.m.

Everyone Can Take Simple Actions to Save Energy and Protect Grid Reliability

SAN FRANCISCO--(BUSINESS WIRE)--With hot temperatures and high energy demand across the western region, the state’s power grid operator is asking residents statewide to voluntarily conserve electricity this afternoon and evening when the grid is most stressed due to higher demand and energy supplies are tighter.

The Flex Alert, called by the California Independent System Operator (CAISO), will be in effect today from 4 p.m. to 9 p.m. The grid operator is predicting an increase in electricity demand, primarily from air conditioning use.

The grid operator is asking all Californians to reduce electricity use during a Flex Alert to prevent further emergency measures, including rotating power outages.

Saving Energy at Home

Here are ways Pacific Gas and Electric Company (PG&E) customers can cut their power use and help keep the lights (and air conditioning) on for everyone:

• Pre-cool your home or workspace: Lower your thermostat in the morning. As the temperature rises outside, raise your thermostat and circulate the pre-cooled air with a fan.
• Set your thermostat at 78 degrees or higher, health permitting: Every degree you lower the thermostat means your air conditioner must work even harder to keep your home cool.
• When it’s cooler outside, bring the cool air in: If the outside air is cool in the night or early morning, open windows and doors and use fans to cool your home.
• Close your shades: Sunlight passing through windows heats your home and makes your air conditioner work harder. Block this heat by keeping blinds or drapes closed on the sunny side of your home.
• Cool down with a fan: Fans keep air circulating, allowing you to raise the thermostat a few degrees and stay just as comfortable while reducing your air-conditioning costs.
• Charge your EVs outside peak hours: Along with using large appliances, remember to charge your electric vehicle in the morning or after 9 p.m.
• Clear the area around your AC unit: Your air-conditioning unit will operate more efficiently if it has plenty of room to breathe. The air conditioner's outdoor unit, the condenser, needs to be able to circulate air without any interruption or obstruction. Also, dirty air filters make your air conditioner work harder to circulate air. By cleaning or replacing your filters monthly, you can improve energy efficiency and reduce costs.

Saving Energy at Your Office or Business

If you’re working in an office setting, CAISO recommends the following:

• Turn off any office equipment that is not currently in use. Alternately, look for sleep or power-saving modes in between uses during the day.
• Enable power management settings on all computers so that they go to sleep and turn off screens when not in use.
• Plug electronics such as coffeemakers and microwaves into power strips and switch them off when the day is done.
• As you leave the office, get in the habit of checking to make sure computers, printers/copiers, and other office equipment is fully shut down. If possible, switch them off at the power strip to ensure they are no longer draining energy.

PG&E’s Demand Response programs offer incentives for business owners and residential customers who curtail their energy use during times of peak demand. PG&E has several of these programs, totaling about 245,000 enrolled PG&E customers.

PG&E’s website includes detailed information on these programs, which allow residential customers and business customers to save energy and money.

PG&E is prepared for the heat and, based on forecasts, doesn’t anticipate issues meeting increased demand for power.

Also, at this time, the grid operator has not indicated that it plans to call for rotating outages. PG&E does not project a need for a Public Safety Power Shutoff due to this weather, but the company’s meteorology team will continuously monitor conditions.

PG&E also urges customers to stay safe during extreme heat. The company funds cooling centers throughout its service area to help customers escape the heat and cool off. To find a center near you click here or call 1-877-474-3266.

About PG&E

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

MEDIA RELATIONS:
415-973-5930

Initial Partners Include One, Best Buy, SoCalGas and the State of California

LOS ANGELES--(BUSINESS WIRE)--Enervee (www.enervee.com), the leading provider of online marketplaces for energy-efficient products, has announced the rollout of Eco Financing™ (www.ecofinancing.com), an innovative program to make it easy and affordable to purchase energy-efficient appliances.

The program is launching in partnership with fintech lender One, the State of California, and Southern California Gas Company (SoCalGas). Enervee is also partnering with major retailers including Best Buy, which will provide end-to-end delivery, installation, and haul-away services.

With Eco Financing, online retail shoppers can buy energy-efficient appliances up to $5,000 with no money down, instant rebates and favorable loan terms, with no penalty for early repayment. The statewide Residential Energy Efficiency Loan (REEL) program enables One to provide Californians with longer loan terms and rates significantly lower than credit cards or other market-rate financing options. This results in low monthly payments: An energy-efficient appliance with a total cost of $1,000, for example, can be paid back with monthly installments of less than $25 while helping the borrower save on energy bills.

Eco Financing will initially be available to the 5.7 million residential customers of SoCalGas through the SoCalGas Marketplace. Access will expand within California through the REEL program and to other states later this year. Consumers can make purchases such as dishwashers, clothes washers/dryers, and kitchen ranges, as well as smart thermostats, with more categories to come.

Eco Financing marks the first microloan initiative of the REEL program, which is administered by the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) housed within the State Treasurer’s Office. Since 2016, REEL has helped move California toward its ambitious climate goal of doubling energy savings by 2030. The program has facilitated $25 million in home energy efficiency improvements for Californians.

“It took close cooperation with the California State Treasurer’s Office, deep data integrations with One and national retailer Best Buy, and SoCalGas’s desire to better serve their customers to make Eco Financing a reality,” said Enervee CEO Matthias Kurwig. “The new Enervee commerce platform represents a major evolution from previous online stores provided by utilities.”

“Thanks to the credit enhancement available to REEL lenders, One is able to offer loans with favorable terms and expand access to borrowers who otherwise might not qualify,” said Brian Hamilton, CEO of One. “Eco Financing advances our mission of improving the financial lives of hard-working families in a way that doesn’t negatively impact the place we all call home.”

“As the utility lead for the State of California’s REEL program, SoCalGas is pleased to be the first to provide affordable and inclusive online retail financing to our customers,” said Gillian Wright, senior vice president and chief customer officer at SoCalGas. “Delivering financing through the high-volume marketplace channel will allow us to cost-effectively scale the impact of REEL, benefitting all Californians.”

“This partnership has the capacity to help many more Californians save energy and reduce expenses and to assist California in making progress on its fight against climate change,” said Treasurer Ma.

For additional information, please visit www.ecofinancing.com.

About Enervee

Enervee is a clean technology company that combines data science, behavioral science, and digital marketing to drive better energy-related buying decisions across dozens of consumer product categories. Our Commerce platform, featuring Choice Engine technology and Eco Financing™, eliminates longstanding market, cognitive/psychological and financial barriers that prevent consumers from following through on their ambition to buy energy-using products that save energy and money and contribute to a clean energy future. You can learn more at www.enervee.com.

About One

One, a financial technology company, was launched in 2019 and is based in San Francisco and Sacramento. With venture capital backing from Obvious Ventures, Foundation Capital, Core Innovation Capital and others, One’s mission is to help improve the financial lives of hard-working families and individuals by seamlessly combining saving, spending, sharing, and borrowing into one account. As a result, every One customer has access to high-yield savings, affordable credit that grows with them, and tools to help automate their money management. You can learn more at www.onefinance.com.

About SoCalGas

Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California’s clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment.

SoCalGas's mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas is committed to achieving net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook.

About the REEL Program

Administered by the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) housed in the State Treasurer’s Office, the Residential Energy Efficiency Loan Program (REEL) was launched in 2016 as a pilot program under the authority of the California Public Utilities Commission (CPUC) with support from the state’s four major investor-owned utilities. REEL and its sister programs for small businesses and affordable multifamily housing were designed to leverage private capital for energy efficiency retrofits using a credit enhancement in the form of a loan loss reserve. The programs support California’s goal of doubling energy efficiency savings by 2030.

Media contacts:
Scenario Communications (for Enervee)
Ron Hofmann | Grace Hagan | Lindsay Shapiro
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One
Meg Sloan | CMO
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Southern California Gas Company
Candice Lee | Office of Media and Public Information
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State Treasurer’s Office
Noah Starr | Kaylee D’Amico
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Zebra to integrate FourKites’ Dynamic Yard into its MotionWorks Yard solution, used in some of the world’s largest logistics operations, to extend real-time asset visibility

AMSTERDAM--(BUSINESS WIRE)--FourKites^®, the world’s leading real-time supply chain visibility platform, today announced that Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, will be reselling FourKites’ Dynamic Yard and real-time visibility platform as part of its suite of asset visibility solutions. Used by some of the largest logistics operators in the world, Zebra’s MotionWorks Yard solution will now combine Dynamic Yard with Zebra locationing hardware and professional services. MotionWorks Yard will continue to be sold directly by Zebra and through select PartnerConnect channel partners in North America and Europe.

Together, FourKites and Zebra are modernizing the digital supply chain and helping to eliminate information silos to provide companies with end-to-end visibility of their freight — from the warehouse to the yard and across all transportation modes. Further expanding the companies’ joint solutions, the two teams will collaborate to increase the in-yard and over-the-road capabilities of their customers.

“Businesses want real-time visibility into their goods and assets throughout the journey — from the manufacturing facility to the final destination,” said Drew Ehlers, Global Futurist and Venture Innovator, Office of the CTO, Zebra Technologies. “Our relationship with FourKites adds a critical layer of visibility that helps companies improve asset visibility, streamline the shipping process and unlock new levels of performance and customer service.”

As an investor in and user of FourKites’ real-time visibility and Dynamic ETA^® for Air solutions, Zebra has reduced turn times on urgent product requests for fulfilling critical customer orders, while also eliminating nearly 75 percent of shipment tracking email inquiries to its global logistics team. By extending its relationship with FourKites, Zebra will continue to help businesses modernize warehouses and create supply chains that are completely transparent, connected and fully optimized.

“FourKites’ relationship with Zebra has grown over the years, as we work together on a joint mission to create a fully transparent supply chain and reduce time to delivery for customers,” said Mathew Elenjickal, founder and CEO of FourKites. “By combining Zebra’s expertise in delivering warehouse visibility with FourKites visibility outside of those four walls, we can provide better end-to-end predictability and forecasting of assets for our shared customers — all while dynamically accounting for the on-the-ground realities across the supply chain.”

About FourKites

FourKites^® is a leading global supply chain visibility platform, extending visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 2 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching 176 countries, FourKites combines real-time data and powerful machine learning to help companies digitize their end-to-end supply chains. More than 620 of the world’s most recognized brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains. To learn more, visit https://www.fourkites.com/.

About Zebra Technologies

Zebra (NASDAQ: ZBRA) empowers the front line in retail/ecommerce, manufacturing, transportation and logistics, healthcare, public sector and other industries to achieve a performance edge. With more than 10,000 partners across 100 countries, Zebra delivers industry-tailored, end-to-end solutions to enable every asset and worker to be visible, connected and fully optimized. The company’s market-leading solutions elevate the shopping experience, track and manage inventory as well as improve supply chain efficiency and patient care. In 2020, Zebra made Forbes Global 2000 list for the second consecutive year and was listed among Fast Company’s Best Companies for Innovators. For more information, visit www.zebra.com or sign up for news alerts. Participate in Zebra’s Your Edge blog, follow the company on LinkedIn, Twitter and Facebook, and check out our Story Hub: Zebra Perspectives.

Scott Johnston
European PR Lead for FourKites
+31 62 147 8442
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Bill Abelson
Zebra Technologies
(631) 738-4751
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NEW YORK--(BUSINESS WIRE)--Blade Air Mobility, Inc. (Nasdaq:BLDE), a technology-powered global air mobility platform, today announced that CEO, Rob Wiesenthal, will attend the Deutsche Bank Virtual Technology Conference on Thursday, September 9th. The Company’s fireside chat presentation will be hosted at 4:30 PM ET. A webcast of the event will be available here.

About Blade Urban Air Mobility

Blade is a technology-powered, global air mobility platform committed to reducing travel friction by providing cost-effective air transportation alternatives to some of the most congested ground routes in the U.S. and abroad. Today, the company predominantly uses helicopters and amphibious aircraft. Its asset-light model, coupled with its exclusive passenger terminal infrastructure, is designed to facilitate a seamless transition to Electric Vertical Aircraft ("EVA" or “eVTOL”), enabling lower cost air mobility to the public that is both quiet and emission-free.

For more information, visit www.blade.com.

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Investor Relations
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Next-Generation Transparent Solar Technology Installed In Energy-Efficient Commercial Office Building

REDWOOD CITY, Calif.--(BUSINESS WIRE)--#UEPower--Ubiquitous Energy, a next-generation technology company developing truly transparent solar products, working with developer Morgan Creek Ventures, has successfully installed fully transparent, electricity-generating windows featuring UE Power™ in a newly constructed energy-efficient building. This building, Boulder Commons II located at 2530 Junction Place, is part of a series of energy-efficient commercial office buildings in Boulder, Colorado, from Morgan Creek Ventures.

Ubiquitous Energy’s transparent photovoltaic coating, UE Power™, developed over a decade with the glass industry after being invented at MIT, generates electricity from non-visible light while looking virtually invisible. The UE Power™ coating generates electricity on the full surface of the window glass without patterns, borders or color tints. The electricity gets collected and transmitted through wiring built discreetly into the window frame, and it can then be fed into the building to power a variety of products or increase the overall energy efficiency of the building.

UE Power™ windows can be used in addition to solar cells on a rooftop or other parts of a building, increasing the building area available for power generation by enabling the full facade area to collect energy. For example, the Boulder Commons II building also has conventional opaque solar panels mounted on the walls of the building, which integrate in tandem with the UE Power™ window on the glass part of the facade.

“Everyone loves the look of glass, and our transparent solar technology enables earth-friendly energy efficiency without compromising on the beautiful design aesthetics of glass. We are very pleased to have UE Power transparent solar windows as part of Morgan Creek’s new energy-efficient building in Boulder working in conjunction with the traditional solar panels mounted on the building,” said Veeral Hardev, Ubiquitous Energy Vice President of Strategy. “This installation serves as a great model of how UE Power transparent solar technology can be integrated into commercial buildings to help make them more energy efficient and help achieve net-zero energy. We want every window to be electricity generating, while remaining invisible to allow people see clearly out to the world.”

The UE Power™ installation at Boulder Commons II also has an energy monitoring system that Ubiquitous Energy will use to log performance data over time as well as an energy storage system that can be used to power various applications in the future.

For additional information, visit www.ubiquitous.energy.

About Ubiquitous Energy

Headquartered in Silicon Valley, Ubiquitous Energy is a next-generation technology company that provides transparent solar windows to both commercial and residential customers. A world leader in transparent photovoltaics, its award-winning technology was born from some of the world’s most prestigious university labs and is the world’s only truly transparent solar product. UE Power™ is a solar coating that integrates into standard windows without sacrificing beauty, design or transparency, with endless possibilities for future applications. For more information please visit us at https://ubiquitous.energy/ or connect with us via Facebook, Twitter, or Linkedin.

Press Inquiries:
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JMG Public Relations
212-206-1645
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RESTON, Va.--(BUSINESS WIRE)--Bowman Consulting Group Ltd (“Bowman”) today announced that Jim Brezack has joined the company as Water Resources Director. He will be responsible for overseeing Bowman’s national water resources practice, working with clients to address water supply challenges and provide insight and solutions relating to water conservation, water reclamation and water supply planning. This includes the interpretation and application of state and federal environmental policies.

“We are thrilled to have Jim and his staff on our team,” said Mike Bruen, Bowman’s chief operating officer. “Jim’s 30 years as a recognized leader in planning and design of wastewater, water supply, and recycled water will be invaluable to our clients. He has been a leader in the industry, providing insight on the complex master planning and design of water systems. We are pleased to have this strategic hire expand our presence into the expansive California market.”

Brezack received his B.S. in Biology from Utah State University and his M.S. in Water Resources from the University of Michigan. Prior to joining Bowman, Jim was the founder and president of Brezack & Associates, based in Walnut Creek, California. The firm’s primary services included water conservation planning, water resources and environmental planning for public agencies and private entities dealing with environmental challenges. In connection with Jim’s move to Bowman, all Brezack & Associates employees joined the company.

“As water and environmental challenges rise across the U.S., the opportunity is now one of becoming more resilient in our climate control efforts,” said Brezack. “I am excited to join Bowman to help build on their solid and proven foundation in water resources planning, design and engineering. I look forward to introducing my clients to Bowman’s team of skilled professionals and continuing to advise our collective communities on the increasing importance of water resilience and conservation.”

About Bowman Consulting Group Ltd. (Bowman): Headquartered in Reston, Virginia, Bowman is an established professional services firm delivering innovative engineering solutions to customers who own, develop, and maintain the built environment. With over 800 employees and more than 30 offices throughout the United States, Bowman provides a variety of planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement and other technical services to customers operating in a diverse set of regulated end markets. On May 11, 2021, Bowman completed its $51.7 million initial public offering and began trading on the Nasdaq under the symbol BWMN. For more information, visit bowman.com.

Contact: Carolyn Artman
Phone: 313.269.4729
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New programs make it easier for customers to drive electric and save money

DENVER--(BUSINESS WIRE)--Xcel Energy announced today that a suite of electric vehicle charging programs is available, making EV charging easy, fast, and more affordable for Colorado customers. In addition to the company’s new residential offerings, new EV programs supporting community charging, businesses, and multifamily buildings are available to empower and assist customers in their EV journey and help them drive electric to save money and reduce carbon emissions.

These programs and offerings are part of the company’s Colorado Transportation Electrification Plan and Xcel Energy’s EV vision to power 1.5 million EVs on the road in the states we serve by 2030. As Xcel Energy increases the amount of renewable and carbon-free energy on its system, customers are increasingly charging with cleaner, reliable, and more affordable energy, allowing people to charge EVs for less than the equivalent of $1 per gallon of gas. In total, over a three-year period, the programs will provide about 20,000 charging plugs in homes, businesses, workplaces, community charging hubs and other public places in Colorado.

“We are absolutely committed to making electric transportation accessible to everyone, and our innovative programs will make it easier for all Colorado customers and communities to consider going electric,” said Alice Jackson, president, Xcel Energy – Colorado. “Our new EV programs can help our customers and communities go even further to reduce carbon emissions by tackling the largest source of carbon emissions in the country – the transportation sector – and at the same time help them save money and enjoy a cleaner environment.”

Xcel Energy’s EV vision aligns with Colorado’s goal to have 940,000 electric vehicles on the roads by 2030, while making electric transportation available to all customers at a range of income levels whether they drive an EV, take transit, or use ridesharing. It also complements Xcel Energy’s vision to deliver 100% carbon-free electricity to customers by 2050. The company’s transition to more electric cars, trucks and buses will help keep bills low for all customers, including those who don’t drive an EV. In Colorado, customer bills are already 34% below the national average.

EV Programs for Xcel Energy Colorado Residential Customers

The company launched four new residential EV programs in Colorado making it easier and less costly for all residential customers in Colorado to drive electric. Eligible customers can now have a charger installed at their house for a low monthly fee, save on energy with a $50 annual reward, get rebates for home wiring upgrades and, for income qualified customers, receive rebates for new or pre-owned car purchases/leases.

EV Accelerate at Home gives customers faster Level 2 chargers, installed and maintained by Xcel Energy, ensuring customers can charge their EV more swiftly than using a simple charger that plugs in to a typical household outlet. Customers pay under $15 per month for the charger rental, installation by a vetted electrician, and charger maintenance for as long as they are in the program.

Optimize Your Charge rewards EV drivers for charging vehicles during off-peak periods with $50 on their bill every October to offset charging costs. It also encourages charging when renewable energy is abundant, often overnight, to reduce the amount of EV charging that occurs during our electric system peak. Participants choose from among three charging windows with flexibility to adjust charging outside the selected charging window.

Home Wiring Rebates are for customers who install a 240-volt electrical circuit that’s necessary to support faster in-home Level 2 charging. Customers can receive a rebate of up to $500 to cover the costs of permitting, materials, installation, and electrical work needed to install the circuit. Costs for purchasing an eligible level 2 charger can also be included. Income qualified customers are eligible for an enhanced rebate of $1,300 to offset costs.

EV purchase/lease rebate allows income qualified customers to apply for a rebate of $5,500 on a new EV purchase or lease, and $3,000 on a pre-owned EV. There is a manufacturer's suggested retail price limit of $50,000. Combining manufacturer incentives and federal tax credits, this rebate helps bring down the price of an EV.

EV Programs for Colorado Commercial and Community Customers

For businesses, multifamily housing and communities looking to go electric, Colorado customers will have an EV concierge guide them on the journey of electrification while taking advantage of EV infrastructure support and the option of Xcel Energy-provided charging equipment. Businesses, governments, and organizations serving higher emissions or income-qualified communities can also benefit from additional charging equipment rebates.

Fleet EV solutions support businesses, organizations, communities, and governments with building transportation electrification plans, using their own fleet operation data and business goals. For eligible customers, Xcel Energy provides a free suitability assessment, data analysis and advisory services as the first step to electrification, saving customers significant amounts of time and money.

Possible next steps include design and construction of infrastructure (from traditional distribution services up to the charging equipment), various rate plans, and options for Xcel Energy provided charging equipment. For eligible income qualified customers or EV projects in high emissions communities (HEC), charging equipment rebates are an option and include up to $2,200 for each eligible Level 2 charging port and up to $45,000 for each eligible direct current fast charging (DCFC) port.

Workplace EV solutions enable businesses and organizations looking to install EV charging for employee or customer use with the EV infrastructure needed for four or more charging ports. Qualifying customers receive no- to low-cost design and construction of infrastructure—typically, from the customer’s meter to the charging port—plus, comprehensive advisory services, and the option to pay a monthly fee for Xcel Energy provided charging equipment. As with Fleet EV Solutions, eligible income qualified customers or EV projects in an HEC can qualify for charging equipment rebates including up to $2,200 for each eligible Level 2 charging port and up to $45,000 for each eligible direct current fast charging (DCFC) port.

Public and community charging hub EV solutions help expand Level 2 and fast charging options for EV drivers away from home. Businesses, municipalities, and community-focused organizations can receive no- to low-cost design and construction of infrastructure—typically, from the customer’s meter to charging equipment—and comprehensive advisory services. Customers that meet our Community Charging Hub program qualifications can earn rebates if they meet income-qualified criteria or are located within an HEC including up to $2,200 for each eligible Level 2 charging port and up to $31,200 for each eligible direct current fast charging (DCFC) port. Note that a minimum of four Level 2 ports are required to be considered as a Community Charging Hub.

Multifamily EV solutions provide EV infrastructure and charging options for existing and new construction multifamily buildings. Services include design and construction of infrastructure, advisory services, and the option to pay a monthly fee for Xcel Energy-provided charging equipment. Developers or building owners and managers can earn rebates equaling $2,000 per charging port for adding extra, qualifying EV parking spots to their sites during the design phase. Business customers in High Emission and Income Qualified communities will find it affordable to install Level 2 or DCFC EV chargers with Xcel Energy’s charger rebate programs.

More information about electric vehicles, and these new programs are available on the Xcel Energy website.

About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.

Xcel Energy Media Relations
(303) 294-2300
www.xcelenergy.com

Agree to demonstrate hydrogen locomotive prototype

SAN RAMON, Calif. & DEERFIELD, Ill.--(BUSINESS WIRE)--Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), and Caterpillar Inc. (NYSE: CAT) today announced a collaboration agreement to develop hydrogen demonstration projects in transportation and stationary power applications, including prime power.

The goal of the collaboration is to confirm the feasibility and performance of hydrogen for use as a commercially viable alternative to traditional fuels for line-haul rail and marine vessels. The collaboration also seeks to demonstrate hydrogen’s use in prime power. Linked to the collaboration, and facilitated by Progress Rail, a Caterpillar company, the parties also agreed to demonstrate a hydrogen-fueled locomotive and associated hydrogen-fueling infrastructure. Work on the rail demonstration will begin immediately at various locations across the United States.

“Through Chevron New Energies, Chevron is pursuing opportunities to create demand for hydrogen – and the technologies needed for its use – for the heavy-duty transportation and industrial sectors, in which carbon emissions are harder to abate,” said Jeff Gustavson, president of Chevron New Energies. “Our collaboration with Caterpillar is another important step toward advancing a commercially viable hydrogen economy.”

“As we work to provide customers with the capability to use their desired fuel type in their operations, collaborating with Chevron is a great opportunity to demonstrate the viability of hydrogen as a fuel source,” said Joe Creed, Caterpillar group president of Energy & Transportation. “This agreement supports our commitment to investing in new products, technologies and services to help our customers achieve their climate-related objectives as they build a better, more sustainable world.”

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.

About Caterpillar

With 2020 sales and revenues of $41.7 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Since 1925, we’ve been driving sustainable progress and helping customers build a better world through innovative products and services. Throughout the product life cycle, we offer services built on cutting-edge technology and decades of product expertise. These products and services, backed by our global dealer network, provide exceptional value to help our customers succeed. We do business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries, and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/social-media.

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

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

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

Forward-Looking Statements

Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “forecast,” “target,” “guide,” “project,” “intend,” “could,” “should” or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.

Caterpillar’s actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers’ needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment’s risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial’s customers; (xviii) currency fluctuations; (xix) our or Cat Financial’s compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; (xxvi) the duration and geographic spread of, business disruptions caused by, and the overall global economic impact of, the COVID-19 pandemic; and (xxvii) other factors described in more detail in Caterpillar’s Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.

Tyler Kruzich, Chevron External Affairs
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t. (925) 549-8686

Kate Kenny, Caterpillar
Global Government & Corporate Affairs
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t. (309) 361-9333

DUBLIN--(BUSINESS WIRE)--The "Oil Conditioning Monitoring Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Sampling, Sensor Type, Product, Measurement, and Industry" report has been added to ResearchAndMarkets.com's offering.

The market is expected to grow from US$ 982.96 million in 2021 and is projected to reach US$ 1,572.93 million by 2028; it is expected to grow at a CAGR of 6.9% from 2021 to 2028.

Increasing Usage of IIoT to Drive Market Growth during Forecast Period

The use of the industrial internet of things is reducing the oil and gas industry's environmental impact substantially, from increased efficiency to reduced safety risk and reduced travel. Oil and gas firms are paying attention to the IIoT because it can help them save energy, avoid oil spills and other catastrophes, and emit less carbon. The IIoT may also monitor energy and resource consumption.

Intelligent technologies are influencing practically every area of the oil and gas supply chain, from operations to consumer interaction. Smart devices in the supply chain are giving the oil and gas industry a chance to compete in a commoditized world, as well as a chance to modernize quickly in a legacy sector.

In addition, the Internet of Things (IoT) has the potential to significantly improve data collection methods. The oil and gas sector values efficiency and precision almost more than any other industry.

The global market for oil conditioning monitoring is expanding at a rapid rate, owing to increased demand for cost efficient services. Oil conditioning monitoring is included in a wide range of industries. For instance, automobiles, aircraft, maritime, heavy vehicles, and locomotive engines are all part of the transportation sector. Oil conditioning monitoring aids in the prevention of major engine breakdowns in ships and aeroplanes.

As a result, the need for oil conditioning monitoring in the maritime and aircraft industries is projected to rise. Furthermore, the worldwide oil conditioning monitoring market is expected to increase due to the increasing usage of predictive maintenance across various sectors. In addition, a spike in demand for cost-effective solutions, a rise in the requirement for time optimization, and an increase in the need for energy production are projected to propel this market forward.

The COVID-19 outbreak has severely disrupted the supply chain and manufacturing of mechanical equipment's, including the hardware component of oil conditioning monitoring.

The emergence of COVID-19 virus across the globe, followed by lockdown scenarios, has led the industry experts to analyze that the industry would face at least a quarter of lag in mechanical equipment supply chain. This disruption is expected to create tremors through till mid-2021.

The mechanical equipment and oil and gas industry is likely to pick up pace soon after the governments across the globe lift the various containment measures steadily in order to revive the economy. The manufacturing plants and industries is anticipated to gain pace from 2022, which is further foreseen to positively influence the demand for oil and gas, including hardware components of oil conditioning monitoring.

Market Dynamics

Key Market Drivers

• Increasing Demand of Cost-Effective Services
• Rising Demand for Power Generation

Key Market Restraints

• Concerns about Extra Costs Associated with Retrofitting of Current Systems

Key Market Opportunities

• Adoption of Big Data

Future Trends

• Increasing Usage of IIoT

Companies Mentioned

• CM Technologies GmbH,
• Des-Case,
• Hydac Technology Limited
• Intertek Group Plc.
• Poseidon Systems
• Rheonics Group
• SGS SA
• Special Oilfield Services Co. LLC
• TAN Delta Systems Limited
• Veritas Petroleum Services

For more information about this report visit https://www.researchandmarkets.com/r/t4ua6l

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

ARLINGTON, Va.--(BUSINESS WIRE)--$AVAV--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today reported financial results for its first quarter ended July 31, 2021.

• First quarter revenue of $101 million increased 16% year-over-year
• Diluted loss per share of $0.57 and non-GAAP diluted loss per share of $0.17
• Record funded backlog of $257.7 million

“We delivered results in-line with our previous guidance, while building a record backlog, including both organic and inorganic growth. Further, we continue to successfully integrate our three recently acquired businesses, which are key contributors to our future success,” said Wahid Nawabi, AeroVironment president and chief executive officer. “Our outstanding team continues to deliver on key milestones such as the recent launch of our next generation ground control station Crysalis. This new platform streamlines our customer’s small unmanned aircraft systems user experience while enabling next generation technologies and collaboration. We also deepened our customer relationships with key wins including our recent award by US Special Operations Command for SATCOM enabled beyond line of sight operations using Jump 20 medium unmanned aircraft systems.”

“As our results this quarter demonstrate, we remain well positioned to deliver long term shareholder value through our focus on key growth markets leveraging our future defining capabilities. We remain on track to meet our Fiscal Year 2022 objectives and deliver our fifth consecutive year of top-line, profitable growth.”

FISCAL 2022 FIRST QUARTER RESULTS

Revenue for the first quarter of fiscal 2022 was $101.0 million, an increase of 16% from the first quarter of fiscal 2021 revenue of $87.5 million. The increase in revenue was due to an increase in service revenue of $18.8 million, partially offset by a decrease in product sales of $5.2 million. The increase was due to revenue from our Medium Unmanned Aircraft Systems (“MUAS”) segment of $22.4 million and Unmanned Ground Vehicles of $4.6 million resulting from our recent acquisitions of Arcturus UAV and Telerob GmbH in February and May 2021, respectively. The remaining increase in revenue was primarily due to an increase in our Tactile Missile Systems (“TMS”) segment of $9.6 million, partially offset by a decrease in revenue in our Small Unmanned Aircraft Systems (“Small UAS”) segment of $16.3 million.

Gross margin for the first quarter of fiscal 2022 was $28.7 million, a decrease of 19% from the first quarter of fiscal 2021 gross margin of $35.4 million. The decrease in gross margin was primarily due to a decrease in product margin of $5.7 million and a decrease in service margin of $1.0 million. As a percentage of revenue, gross margin decreased to 28% from 40%. Gross margin was impacted by $4.0 million of intangible amortization expense and other related non-cash purchase accounting expenses in the first quarter of fiscal 2022 as compared to $0.6 million in the first quarter of fiscal 2021. Gross margin was also negatively impacted by our newly acquired businesses, which have lower margins than our historical core business as well as an unfavorable product mix.

Loss from operations for the first quarter of fiscal 2022 was $12.1 million, an increase of $24.4 million from the first quarter of fiscal 2021 income from operations of $12.3 million. The increase in loss from operations was primarily a result of an increase in selling, general and administrative (“SG&A”) expense of $15.1 million, a decrease in gross margin of $6.7 million and an increase in research and development (“R&D”) expense of $2.6 million. SG&A expense included acquisition-related expenses and intangible amortization expense of $8.3 million in the first quarter of fiscal 2022 as compared to $38 thousand in the first quarter of fiscal 2021. SG&A expense for the first quarter of fiscal 2022 also included additional headcount and support costs associated with the acquisitions of Arcturus UAV, ISG and Telerob.

Other expense, net, for the first quarter of fiscal 2022 was $1.6 million, as compared to other income, net of $0.2 million for the first quarter of fiscal 2021. The increase in other expense, net was primarily due an increase in interest expense of $1.3 million resulting from the term debt issued concurrent with the acquisition of Arcturus UAV.

Benefit from income taxes for the first quarter of fiscal 2022 was $1.0 million, as compared to a provision for income taxes of $1.2 million for the first quarter of fiscal 2021. The increase in benefit from income taxes was primarily due to the decrease in income before income taxes and an increase in certain federal income tax credits.

Equity method investment loss, net of tax, for the first quarter of fiscal 2022 was loss of $1.1 million, as compared to loss of $1.3 million for the first quarter of fiscal 2021. The equity method loss was primarily associated with our investment in the HAPSMobile joint venture.

Net loss attributable to AeroVironment for the first quarter of fiscal 2022 was $14.0 million, as compared to net income attributable to AeroVironment of $10.1 million for the first quarter of fiscal 2021.

Loss per diluted share attributable to AeroVironment for the first quarter of fiscal 2022 was $0.57, as compared to earnings per diluted share attributable to AeroVironment of $0.42 for the first quarter of fiscal 2021.

Non-GAAP loss per diluted share was $0.17 for the first quarter of fiscal 2022, as compared to Non-GAAP earnings per diluted share $0.44 for the first quarter of fiscal 2021.

BACKLOG

As of July 31, 2021, funded backlog (remaining performance obligations under firm orders for which funding is currently appropriated to us under a customer contract) was $257.7 million, as compared to $211.8 million as of April 30, 2021.

FISCAL 2022 — OUTLOOK FOR THE FULL YEAR

For fiscal year 2022 the Company continues to expect revenue of between $560 million and $580 million, net income of between $29 million and $34 million, Non-GAAP adjusted EBITDA of between $105 million and $110 million, earnings per diluted share of between $1.15 and $1.35 and non-GAAP earnings per diluted share, which excludes acquisition-related expenses and amortization of intangible assets, of between $2.50 and $2.70.

The foregoing estimates are forward-looking and reflect management's view of current and future market conditions, subject to certain risks and uncertainties, and including certain assumptions with respect to our ability to efficiently and on a timely basis integrate our acquisitions, obtain and retain government contracts, changes in the timing and/or amount of government spending, changes in the demand for our products and services, activities of competitors, changes in the regulatory environment, and general economic and business conditions in the United States and elsewhere in the world. Investors are reminded that actual results may differ materially from these estimates.

CONFERENCE CALL AND PRESENTATION

In conjunction with this release, AeroVironment, Inc. will host a conference call today, Wednesday, September 8, 2021, at 4:30 pm Eastern Time that will be webcast live. Wahid Nawabi, president and chief executive officer, Kevin P. McDonnell, chief financial officer, and Jonah Teeter-Balin, senior director corporate development and investor relations, will host the call.

4:30 PM ET
3:30 PM CT
2:30 PM MT
1:30 PM PT

Investors may dial into the call by using the following telephone numbers, (877) 561-2749 (U.S.) or (678) 809-1029 (international) and providing the conference ID 9298599 five to ten minutes prior to the start time to allow for registration.

Investors with Internet access may listen to the live audio webcast via the Investor Relations page of the AeroVironment, Inc. website, http://investor.avinc.com. Please allow 15 minutes prior to the call to download and install any necessary audio software.

A supplementary investor presentation for the first quarter fiscal 2022 can be accessed at https://investor.avinc.com/events-and-presentations.

Audio Replay Options

An audio replay of the event will be archived on the Investor Relations page of the company's website, at http://investor.avinc.com. The audio replay will also be available via telephone from Wednesday, September 8, 2021, at approximately 7:30 p.m. Eastern Time through September 15, 2021, at 7:30 p.m. Eastern Time. Dial (855) 859-2056 (U.S.) or (404) 537-3406 (international) and provide the conference ID 9298599.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.

FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,” “plan,” or words or phrases with similar meaning. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward-looking statements.

Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the impact of our recent acquisitions of Arcturus UAV, Telerob and ISG and our ability to successfully integrate them into our operations; the risk that disruptions will occur from the transactions that will harm our business; any disruptions or threatened disruptions to our relationships with our distributors, suppliers, customers and employees, including shortages in components for our products; the ability to timely and sufficiently integrate international operations into our ongoing business and compliance programs; reliance on sales to the U.S. government and related to our development of HAPS UAS; availability of U.S. government funding for defense procurement and R&D programs; changes in the timing and/or amount of government spending; our ability to perform under existing contracts and obtain new contracts; risks related to our international business, including compliance with export control laws; potential need for changes in our long-term strategy in response to future developments; the extensive regulatory requirements governing our contracts with the U.S. government and international customers; the consequences to our financial position, business and reputation that could result from failing to comply with such regulatory requirements; unexpected technical and marketing difficulties inherent in major research and product development efforts; the impact of potential security and cyber threats; changes in the supply and/or demand and/or prices for our products and services; the activities of competitors and increased competition; failure of the markets in which we operate to grow; uncertainty in the customer adoption rate of commercial use unmanned aircraft systems; failure to remain a market innovator, to create new market opportunities or to expand into new markets; changes in significant operating expenses, including components and raw materials; failure to develop new products or integrate new technology into current products; risk of litigation, including but not limited to pending litigation arising from the sale of our EES business; product liability, infringement and other claims; changes in the regulatory environment; the impact of the outbreak related to the strain of coronavirus known as COVID-19 on our business operations; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

NON-GAAP MEASURES

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains non-GAAP financial measures. See in the financial tables below the calculation of these measures, the reasons why we believe these measures provide useful information to investors, and a reconciliation of these measures to the most directly comparable GAAP measures.

Statement Regarding Non-GAAP Measures

The non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measures, and may not be comparable to similarly titled measures reported by other companies. Management believes that these measures provide useful information to investors by offering additional ways of viewing our results that, when reconciled to the corresponding GAAP measures, help our investors to understand the long-term profitability trends of our business and compare our profitability to prior and future periods and to our peers. In addition, management uses these non-GAAP measures to evaluate our operating and financial performance.

Non-GAAP Adjusted Operating Income

Adjusted operating income is defined as operating income before intangible amortization, amortization of non-cash purchase accounting adjustments, and acquisition related expenses.

Non-GAAP Earnings per Diluted Share

We exclude the acquisition-related expenses, amortization of acquisition-related intangible assets and one-time non-operating items because we believe this facilitates more consistent comparisons of operating results over time between our newly acquired and existing businesses, and with our peer companies.

AeroVironment, Inc.
Jonah Teeter-Balin
+1 (805) 520-8350 x4278
https://investor.avinc.com/contact-us

DUBLIN--(BUSINESS WIRE)--The "Fuel Ethanol Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2027" report has been added to ResearchAndMarkets.com's offering.

The report on the global fuel ethanol market provides qualitative and quantitative analysis for the period from 2019 to 2027. The report predicts the global fuel ethanol market to grow with a CAGR of 5.8% over the forecast period from 2021-2027. The study on fuel ethanol market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2019 to 2027.

The report on fuel ethanol market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global fuel ethanol market over the period of 2019 to 2027. Moreover, the report is a collective presentation of primary and secondary research findings.

Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global fuel ethanol market over the period of 2019 to 2027. Further, Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider.

Segment Covered

The global fuel ethanol market is segmented on the basis of product, and application.

The Global Fuel Ethanol Market by Product

• Starch-based
• Sugar-based
• Cellulosic

The Global Fuel Ethanol Market by Application

• Conventional Fuel Vehicles
• Flexible Fuel Vehicles
• Others

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the fuel ethanol market.

2. Complete coverage of all the segments in the fuel ethanol market to analyze the trends, developments in the global market and forecast of market size up to 2027.

3. Comprehensive analysis of the companies operating in the global fuel ethanol market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.

Market Dynamics

Drivers

• Rising demand from the automotive industry for ethanol due to improvement in vehicle performance and reduction of pollution
• The rising environmental-related concerns

Restraints

• The growing adoption of hybrid and electric vehicles

Opportunities

• Rising government initiatives for the usage of ethanol fuel over conventional fuel

Company Profiles

• Valero Energy Corporation
• Raizen S.A.
• Green Plains Renewable, Inc.
• E.I. du Pont de Nemours and Company
• Wilmar International Ltd.
• Cargill, Inc.
• BlueFire Renewables, Inc.
• Pacific Ethanol, Inc.
• Flint Hills Resources LP
• Jilin Fuel Ethanol Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/fx3nps

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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AKRON, Ohio--(BUSINESS WIRE)--$BW--Babcock & Wilcox Enterprises, Inc. ("B&W") (NYSE: BW) has been invited to participate in Lake Street’s Fifth Annual Best Ideas Growth (BIG5) Conference, which is being held virtually on September 14-15, 2021.

Kenneth Young, B&W’s Chairman and Chief Executive Officer, and Louis Salamone, B&W’s Chief Financial Officer, are scheduled to hold one-on-one meetings throughout the conference. To receive additional information, request an invitation or to schedule a one-on-one meeting, please email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 612-326-1305.

About the BIG Conference

Lake Street will host its fifth annual BIG (Best Ideas Growth) institutional investor conference showcasing many interesting, dynamic public growth companies. Executives from over 100 publicly traded companies will meet institutional investors in an interactive, one-on-one meeting format. This is an invitation-only event attended by top institutional investors from across the country.

About B&W Enterprises

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at www.babcock.com.

Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Proposed acquisition of solar photovoltaic systems distributor Segen achieves City Electrical Factors’ goal to expand its renewable energy business.

LONDON--(BUSINESS WIRE)--City Electrical Factors (CEF) and The Segen Group Limited (Segen) today announced that CEF’s parent company, Labora Holdings Limited (Labora), and Segen have entered into an agreement under which Labora will acquire 100% of Segen, a leading global distributor of residential and commercial rooftop solar photovoltaic (PV) systems, and its subsidiaries in the UK, Germany and South Africa. The transaction is expected to close October 2021 subject to regulatory and other approvals and conditions. Labora and Segen will remain separate and independent companies until closing of the proposed transaction.

Segen sells a range of renewable energy solutions, including energy storage systems (ESS) and EV charging equipment, to installers through its proprietary online portal and is a market leader in the UK and South Africa with significant and expanding operations in Europe. It has an impressive financial track record and exciting growth outlook.

“We are delighted to announce Labora’s proposed acquisition of Segen. This announcement reflects our confidence in the talented Segen team and our commitment to renewable energy,” said Thomas Hartland-Mackie, President and CEO of Labora. “Segen’s dedication to their customers and strong supplier partnerships is aligned with CEF’s culture and way of doing business. Our business is highly complementary to Segen and we are eager to explore ways to accelerate growth through new capabilities to further deliver on customer needs.”

Following the closing of the transaction, Segen will be a subsidiary of Labora, with the benefit of new scope and scale that will increase opportunities for suppliers and customers.

“There are many exciting synergies between the Segen and CEF teams,” said Andy Pegg, founder and CEO of Segen. “I am very pleased that Segen has found such a fantastic new home.”

Lincoln International acted as exclusive financial advisor to Segen and its shareholders, working closely with the founder, Andy Pegg, and his management team throughout the sale process. K&L Gates LLP acted as legal adviser.

About Segen

Segen are a leading global wholesale distributor of solar PV (photovoltaic), energy storage systems, electric vehicle charging and associated components. Founded in the UK in 2005, Segen offer an unrivalled product portfolio at everyday good prices. Segen are proud to have been recognized in both the Sunday Times PwC Fast Track 250 as one of Britain’s leading mid-market private companies and the Sunday Times International Track 200 for mid-market private companies with the fastest growing international sales.

About CEF

CEF is the expert supplier of electrical products and services for professional buyers and installers all over the UK. CEF offer the largest range of products including leading brands and value alternatives, alongside specialist knowhow, friendly advice and support that’s the best in the industry.

Established in 1951, privately owned CEF has a UK national network of 390 stores and the business now extends to the USA, Canada, Ireland, Spain and Australia. Customers can place online orders up until 8pm for next day delivery at cef.co.uk with access to more than 35,000 products from over 300 leading suppliers.

To find out more about CEF go to: cef.co.uk/

Facebook: facebook.com/cityelectricalfactors

Twitter: twitter.com/cefonline

Media Contact
Sharon Hong
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HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) announced today the completion of a replacement and refinancing of its credit agreement. The new syndicated facility agreement, which consists of a Canadian term loan and three revolving credit facilities, encompasses all of Civeo’s outstanding debt structure. In the leverage neutral transaction, the Canadian term loan was reduced to C$100 million (approximately US$80 million), compared to an outstanding balance of C$216 million (approximately US$175 million) as of June 30, 2021. This reduction was funded via a draw on the Canadian revolving credit facility in an equal and offsetting amount. The syndicated facility agreement has a maturity date of September 8, 2025. In addition, among other things, the new syndicated facility agreement:

• Increases the total revolving commitment to US$200 million;
• Changes the maximum leverage ratio to a maximum total net leverage ratio, and adjusts the level of the ratio from 3.50x as of today to 3.25x in the fourth quarter of 2021 and first quarter of 2022 and 3.00x in the second quarter of 2022 and thereafter;
• Requires term loan amortization payments of C$10 million per quarter; and
• Reduces interest rates for leverage ratios less than 2.0x.

“We are pleased to announce this new bank agreement, which provides the Company with four years of tenor on all three revolving credit facilities. This longer tenor allows Civeo even more flexibility to continue to generate free cash flow and reduce our debt levels while also evaluating other capital allocation priorities such as our recently announced share repurchase program and potential growth opportunities. We would like to thank our lending group for their continued support,” stated Bradley J. Dodson, Civeo’s President and CEO.

Additional information on the terms of the new agreement can be found in a separate Current Report on Form 8-K to be filed with the Securities and Exchange Commission today.

About Civeo

Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently operates a total of 28 lodges and villages in operation in Canada, Australia and the U.S., with an aggregate of approximately 30,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo's website at www.civeo.com.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risks and uncertainties. The forward-looking statements herein include the statements regarding Civeo’s future plans and outlook, are based on then current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Such risks and uncertainties include, among other things, risks associated with global health concerns and pandemics, including the COVID-19 pandemic and the risk that room occupancy may decline if our customers are limited or restricted in the availability of personnel who may become ill or be subjected to quarantine, risks associated with the general nature of the accommodations industry, risks associated with the level of supply and demand for oil, coal, iron ore and other minerals, including the level of activity, spending and developments in the Canadian oil sands, the level of demand for coal and other natural resources from, and investments and opportunities in, Australia, and fluctuations or sharp declines in the current and future prices of oil, natural gas, coal, iron ore and other minerals, risks associated with failure by our customers to reach positive final investment decisions on, or otherwise not complete, projects with respect to which we have been awarded contracts, which may cause those customers to terminate or postpone contracts, risks associated with currency exchange rates, risks associated with the company’s ability to integrate acquisitions, risks associated with labor shortages, risks associated with the development of new projects, including whether such projects will continue in the future, risks associated with the trading price of the company’s common shares, availability and cost of capital, risks associated with general global economic conditions, global weather conditions, natural disasters and security threats and changes to government and environmental regulations, including climate change, and other factors discussed in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Civeo’s annual report on Form 10-K for the year ended December 31, 2020 and other reports the company may file from time to time with the U.S. Securities and Exchange Commission. Each forward-looking statement contained herein speaks only as of the date of this release. Except as required by law, Civeo expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Carolyn J. Stone
Civeo Corporation
Senior Vice President & Chief Financial Officer
713-510-2400

Blue Hour: Ocean of Inclusion will blend art with ocean conservation in a visual journey, beginning at Angels Gate Cultural and ending next to the Korean Bell of Friendship, overlooking the Pacific Ocean.

LOS ANGELES--(BUSINESS WIRE)--AltaSea at the Port of Los Angeles, together with LA City Council District 15, is hosting its second annual Blue Hour, an event that will amplify and promote the benefits of a healthy ocean and growing blue economy, as well as educating the next generation on ocean exploration and conservation, through the work of world-class artists. Blue Hour: Ocean of Inclusion will be a two-part visual experience, with artist exhibits preceding the main event. The event will take place at Angels Gate Park in San Pedro on October 9, with the artist exhibits from 4:30-6 PM and the main event from 7-9 PM. Tickets to the event are on sale now. More information can be found here: https://altasea-project-blue.org/the-blue-hour-2021/.

AltaSea – a unique public-private ocean institute that convenes and nurtures the best and brightest pioneers and organizations in science, business, and education – hosted the first-ever Blue Hour in 2020, a drive-in experience that included a first-of-its-kind art installation projected onto the USS Iowa, a retired battleship-turned-museum moored on the San Pedro waterfront.

“As Jacques Cousteau once said, ‘The sea, the great unifier, is (our) only hope.’ Blue Hour: Ocean of Inclusion will celebrate that very thought in one of the most unique events in Los Angeles,” said AltaSea CEO Tim McOsker. “Art has the ability to cross barriers and unite us, and by blending art and ocean sustainability, this event will inspire and promote our mission of advancing the blue economy while preserving the ocean for future generations.”

For this year’s Blue Hour, AltaSea is partnering with the Korean Cultural Center of Los Angeles, the Korean Friendship Bell Preservation Committee, Angels Gate Cultural Center, and the Department of Recreation and Parks.

AltaSea will present three awards throughout the evening, recognizing select individuals who have both paved the way and inspired the next generation:

• Explorer Award, Schmidt Ocean Institute
• NextGen Award, EarthEcho International
• Innovation Award, FootPrint Coalition

Accepting the Explorer Award for the Schmidt Ocean Institute will be Dr. Jyotika Virmani, Executive Director of the Schmidt Ocean Institute (SOI). Dr. Virmani, the first executive director of SOI, leads the global nonprofit in its work to advance the field of oceanographic science through innovative research and technology. Since its founding by Wendy and Eric Schmidt, the former Google CEO, in 2009, SOI has worked to advance oceanographic research, discovery, and knowledge, and catalyze sharing of information about the oceans.

Philippe Cousteau, Jr., co-founder of EarthEcho International, will accept the NextGen Award. Cousteau, inspired by the legacy of his grandfather, famed ocean explorer Jacques Cousteau, is a multi-Emmy-nominated TV host, author, speaker, and social entrepreneur. During his career, he has hosted many TV programs for BBC, CNN, Discovery, Travel Channel, and others. His organization, EarthEcho International, was founded in 2005 with his sister, Alexandra, in honor of their father, Philippe Cousteau Sr., to provide knowledge and develop tools in youth around the world that drive meaningful environmental action to protect and restore the ocean planet. With a reach of over 2 million people in 146 countries, EarthEcho supports the next generation to become environmental leaders who will transform the future.

Accepting the Innovation Award will be Rachel Kropa, Managing Director, FootPrint Coalition. FootPrint Coalition – founded by actor, producer, and activist Robert Downey Jr. – makes investments, provides grants, and creates media for the purpose of advancing and scaling environmental technology. Kropa, the former head of Creative Artists Agency Foundation, leads FootPrint Coalition’s scientific and philanthropic initiatives.

The event will feature multiple art exhibits, including a gallery from Schmidt Ocean Institute’s Artist-at-Sea program. Like the Blue Hour, the program seeks to use art to help conceptualize and broaden the awareness of the important research Schmidt Ocean Institute is doing on-board their research vessels.

Dr. Carlie Wiener, the Director of Communications and Engagement Strategy of SOI, will host a Q&A session on the Artist-at-Sea program at the VIP Salon. Dr. Wiener has over thirteen years of experience in marine science communications. Dr. Wiener has taught several courses throughout her career, specializing on communicating oceanography and marine science to the public. She has over twelve publications printed in top scientific research journals across the country.

A highlight of the evening will be a sneak preview of four-time Emmy award-winning filmmaker and marine biologist Rick Rosenthal’s upcoming nature series PLANET CALIFORNIA, offered exclusively for Blue Hour attendees. Combining the visual arts with natural history, the series celebrates California’s wildlife and wild places, especially its stunning ocean habitats.

Hosting the Blue Hour will be multi-Emmy award-winning journalist, Val Zavala. Zavala spent 30 years as a broadcast journalist at KCET in Los Angeles, winning numerous journalism awards. During her career, Zavala has covered a broad spectrum of Southern California issues, including politics, the environment, and the economy. Over the past year, Zavala has served as moderator for many webinars in AltaSea’s Project Blue webinar series.

About AltaSea at the Port of Los Angeles

AltaSea at the Port of Los Angeles, located on 35 acres at North America’s leading seaport by both container volume and cargo value, is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation, all for a more sustainable, just, and equitable world.

For more information on AltaSea, please see our website: https://altasea.org.

Jacob Scott
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412-445-7719

SAN JOSE, Calif.--(BUSINESS WIRE)--Power Integrations (Nasdaq: POWI) today announced that Balu Balakrishnan and Sandeep Nayyar, the company’s CEO and CFO, will participate in an online fireside chat at the Deutsche Bank Technology Conference on September 9 at 3:50 p.m. Eastern time. A live webcast of the event will be available via the investor page of the company’s website, investors.power.com.

About Power Integrations

Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power-conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information please visit www.power.com.

Power Integrations and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc.

Joe Shiffler
Power Integrations, Inc.
(408) 414-8528
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• 20^th significant discovery on Stabroek Block
• Exploration successes continue to add to recoverable resource estimate of more than 9 billion barrels of oil equivalent
• Liza Unity FPSO set sail from Singapore to Guyana in early September; production startup on track for early 2022

NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) today announced another oil discovery on the Stabroek Block offshore Guyana at Pinktail. The Pinktail well encountered 220 feet (67 meters) of net pay in high quality oil bearing sandstone reservoir. Pinktail is located approximately 21.7 miles (35 kilometers) southeast of the Liza Phase 1 development, which began production in December 2019, and 3.7 miles (6 kilometers) southeast of Yellowtail-1. Pinktail was drilled in 5,938 feet (1,810 meters) of water by the Noble Sam Croft.

In addition to successful appraisal of the Turbot discovery, the Turbot-2 well encountered 43 feet (13 meters) of net pay in a newly identified, high quality oil bearing sandstone reservoir separate from the 75 feet (23 meters) of high quality, oil bearing sandstone reservoir pay encountered in the original Turbot-1 discovery well. These results will be incorporated into future developments. The Turbot-2 discovery is located approximately 37 miles (60 kilometers) to the southeast of the Liza Phase 1 development and 2.5 miles (4 kilometers) from Turbot-1. Turbot-2 was drilled in 5,790 feet (1,765 meters) of water by the Noble Sam Croft.

CEO John Hess said: “We are happy to announce our 20th significant discovery on the Stabroek Block, which will add to the discovered recoverable resource estimate of more than 9 billion barrels of oil equivalent.”

Separately, the Liza Unity floating production storage and offloading (FPSO) vessel set sail from Singapore to Guyana in early September. The FPSO will be utilized for the Liza Phase 2 development, which is expected to begin production in early 2022, with a production capacity of approximately 220,000 gross barrels of oil per day. The Liza Destiny FPSO is currently producing approximately 120,000 gross barrels of oil per day.

The Stabroek Block is 6.6 million acres. At least six FPSOs are expected to be online by 2027 with the potential for up to 10 FPSOs on the block to develop the current discovered recoverable resource base. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.

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

Cautionary Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation, the expected number, timing and completion of our development projects and estimates of capital and operating costs for these projects; estimates of our crude oil and natural gas resources and levels of production; and our future financial and operational results. Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: fluctuations in market prices or demand for crude oil, NGLs and natural gas, including due to the global COVID-19 pandemic or the outbreak of any other public health threat, or due to the impact of competing or alternative energy products and political conditions and events; potential failures or delays in increasing oil and gas reserves and in achieving expected production levels, including as a result of unsuccessful exploration activity, drilling risks and unforeseen reservoir conditions; inherent uncertainties in estimating quantities of proved reserves and resources; changes in laws, regulations and governmental actions applicable to our business, including legislative and regulatory initiatives regarding environmental concerns, such as measures to limit greenhouse gas emissions and flaring; the ability of our contractual counterparties to satisfy their obligations to us, including the operation of joint ventures which we may not control; unexpected changes in technical requirements for constructing, modifying or operating exploration and production facilities and/or the inability to timely obtain or maintain necessary permits; potential disruption or interruption of our operations due to catastrophic events, including the global COVID-19 pandemic; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission. As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

We use certain terms in this release relating to resources other than proved reserves, such as unproved reserves or resources. Investors are urged to consider closely the oil and gas disclosures in Hess Corporation’s Form 10-K, File No. 1-1204, available from Hess Corporation, 1185 Avenue of the Americas, New York, New York 10036 c/o Corporate Secretary and on our website at www.hess.com. You can also obtain this form from the SEC on the EDGAR system.

Investor Contact:
Jay Wilson
(212) 536-8940
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Media Contact:
Lorrie Hecker
(212) 536-8250
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Li-Cycle will Add a Fourth Spoke in Alabama as the Pace of New Battery Mega-Factory Deployment Continues to Exceed Expectations

Commercial Spoke 4 will Provide an Initial Processing Capacity Increase of up to 5,000 tonnes of Manufacturing Scrap and End-of-life Batteries per year, Bringing Li-Cycle’s North American Recycling Capacity to 25,000 tonnes per year

TORONTO--(BUSINESS WIRE)--Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or “the Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced that the Company will build a fourth commercial lithium-ion battery recycling facility, to be located in Tuscaloosa, Alabama.

With the pace of deployment of new battery mega-factories far exceeding initial expectations, Li-Cycle will construct an additional fourth Spoke in North America (“Spoke 4”). The Company previously had a base case plan for three North American Spokes (the Kingston, Ontario and Rochester, New York Spoke facilities are commercially operational; the Gilbert, Arizona Spoke facility is in advanced execution stages).

The southeastern United States is emerging as a critical region for the lithium-ion battery supply chain, as battery manufacturers and automotive OEMs establish operations in the region, which will lead to the generation of significant quantities of battery manufacturing scrap and end-of-life batteries available for recycling. Univar Solutions Inc. will be an anchor battery feed supply customer for the new facility, following on Li-Cycle’s previously announced on-site partnership with Univar Solutions to provide waste management solutions for electric vehicle and lithium-ion battery manufacturing.

When completed, Li-Cycle’s Spoke 4 facility will have an initial capacity of up to 5,000 tonnes of battery manufacturing scrap and end-of-life batteries per year, bringing Li-Cycle’s total North American recycling capacity to 25,000 tonnes per year. The Tuscaloosa site is also being developed to accommodate a future, second 5,000 tonne processing line, which would increase capacity at the Tuscaloosa site to 10,000 tonnes per year, and Li-Cycle’s total North American recycling capacity to 30,000 tonnes per year. As Li-Cycle continues to build upon its position as a leading lithium-ion battery recycler and resource recovery company, the Alabama Spoke is projected to commence operations by mid-2022 and is expected to create an initial 30+ new jobs.

The execution of Spoke 4 is strongly supported by a range of local stakeholders, including but not limited to:

• Univar Solutions and their existing automotive customer base;
• The Alabama Automotive Manufacturers Association (AAMA);
• The State of Alabama, including the Alabama Department of Commerce; and
• The Tuscaloosa County Economic Development Authority.

"Our new facility in Alabama positions us well to meet the growing demand for lithium-ion battery recycling,” said Tim Johnston, Co-founder, and Executive Chairman of Li-Cycle. “Originally, we had planned on rolling out three commercial Spoke facilities in North America over the next five years, with a total recycling capacity of 20,000 tonnes per year. However, demand for lithium-ion battery recycling has continued to outperform our forecasts and we are now forecasting total recycling capacity of 30,000 tonnes per year. This facility is essential in filling a recycling gap in the southeastern United States. Like our Arizona Spoke, we expect the new facility to have the capability to process entire vehicle battery packs, without dismantling.”

“We have a responsibility to not only manufacture vehicles and batteries, but to be good corporate citizens in the choices we make to protect our environment and the community around us,” said Michael Goebel, President and CEO, Mercedes-Benz, US International, Inc. (MBUSI), which is working together with Univar Solutions on end-of-life solutions for lithium-ion batteries. “We welcome the partnership between Univar Solutions and Li-Cycle and the strong commitment of our partners here in Tuscaloosa, Alabama to push a sustainable future for mobility.”

"At Univar Solutions, we’re committed to bringing more sustainable solutions for a better world, leveraging our expertise to help our customers and suppliers make progress toward their sustainability goals. We are thrilled to work together with industry leaders like Li-Cycle and MBUSI to make a difference in lithium-ion battery recycling," said Stephen Molica, Vice President of Services for Univar Solutions Inc. "We look forward to further assisting MBUSI with best-in-class sustainability solutions through our OnSite Services team, including supporting the addition of Li-Cycle’s new facility in Alabama."

“Li-Cycle’s decision to locate in Alabama helps position our state on the leading edge as our industry enters the era of electric vehicle production,” said Ron Davis, President of the Alabama Automotive Manufacturers Association (AAMA). “With its innovative technology and process, Li-Cycle is bringing a capability that will offer the auto industry a solution to what will become an issue of critical importance. I am very excited to see Li-Cycle's ground-breaking contributions to our growing Alabama automotive industry."

“With the popularity of electric vehicles accelerating, it’s critical that old batteries are recycled — and Li-Cycle’s technologies make that possible,” Governor Kay Ivey said. “Li-Cycle’s selection of Tuscaloosa for its network of recycling facilities means not only jobs in Alabama, but also a positive for the environment.”

“With EV production set to start in Alabama in 2022, Li-Cycle’s Tuscaloosa recycling facility will ensure that Alabama plays another important role in the lifecycle of the batteries powering electric vehicles,” said Greg Canfield, Secretary of the Alabama Department of Commerce. “This project addresses the battery repurposing proposition that must also be a part of the sustainability solution that EVs offer.”

“With a strategic focus on mobility and power, West Alabama is a prime location for Li-Cycle’s Spoke facility,” said Danielle Winningham, executive director for Tuscaloosa County Economic Development Authority. “We welcome Li-Cycle’s sustainable and environmentally friendly end-of-life solution for lithium-ion batteries, which assists meeting the demand for electric vehicle battery materials.”

About Li-Cycle Holdings Corp. (NYSE: LICY)

Li-Cycle is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained in this communication may be considered “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993, as amended, Section 21 of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as “will,” “continue,” “expect,” “would,” “plan,” “projected,” “future” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These statements are based on various assumptions, whether or not identified in this communication, which Li-Cycle believe are reasonable in the circumstances. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the following: Li-Cycle’s inability to economically and efficiently source, recover and recycle lithium-ion batteries and lithium-ion battery manufacturing scrap, as well as third party black mass, and to meet the market demand for an environmentally sound, closed-loop solution for manufacturing waste and end-of-life lithium-ion batteries; Li-Cycle’s inability to successfully implement its global growth strategy, on a timely basis or at all; Li-Cycle’s inability to manage future global growth effectively; Li-Cycle’s inability to develop the Rochester Hub, Arizona Spoke, Alabama Spoke and other future projects in a timely manner or on budget or that those projects will not meet expectations with respect to their productivity or the specifications of their end products; Li-Cycle’s failure to materially increase recycling capacity and efficiency; Li-Cycle may engage in strategic transactions, including acquisitions, that could disrupt its business, cause dilution to its shareholders, reduce its financial resources, result in incurrence of debt, or prove not to be successful; one or more of Li-Cycle’s current or future facilities becoming inoperative, capacity constrained or if its operations are disrupted; additional funds required to meet Li-Cycle’s capital requirements in the future not being available to Li-Cycle on commercially reasonable terms or at all when it needs them; Li-Cycle expects to incur significant expenses and may not achieve or sustain profitability; problems with the handling of lithium-ion battery cells that result in less usage of lithium-ion batteries or affect Li-Cycle’s operations; Li-Cycle’s inability to maintain and increase feedstock supply commitments as well as securing new customers and off-take agreements; a decline in the adoption rate of EVs, or a decline in the support by governments for “green” energy technologies; decreases in benchmark prices for the metals contained in Li-Cycle’s products; changes in the volume or composition of feedstock materials processed at Li-Cycle’s facilities; the development of an alternative chemical make-up of lithium-ion batteries or battery alternatives; Li-Cycle’s revenues for the Rochester Hub are derived significantly from a single customer; Li-Cycle’s insurance may not cover all liabilities and damages; Li-Cycle’s heavy reliance on the experience and expertise of its management; Li-Cycle’s reliance on third-party consultants for its regulatory compliance; Li-Cycle’s inability to complete its recycling processes as quickly as customers may require; Li-Cycle’s inability to compete successfully; increases in income tax rates, changes in income tax laws or disagreements with tax authorities; significant variance in Li-Cycle’s operating and financial results from period to period due to fluctuations in its operating costs and other factors; fluctuations in foreign currency exchange rates which could result in declines in reported sales and net earnings; unfavourable economic conditions, such as consequences of the global COVID-19 pandemic; natural disasters, unusually adverse weather, epidemic or pandemic outbreaks, boycotts and geo-political events; failure to protect Li-Cycle’s intellectual property; Li-Cycle may be subject to intellectual property rights claims by third parties; Li-Cycle’s failure to effectively remediate the material weaknesses in its internal control over financial reporting that it has identified or if it fails to develop and maintain a proper and effective internal control over financial reporting. These and other risks and uncertainties related to Li-Cycle’s business are described in greater detail in the section entitled "Risk Factors" in its final prospectus dated August 10, 2021 filed with the Ontario Securities Commission in Canada and the Form 20-F filed with the SEC. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement.

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