GSL’s Eleanor Class Multi-Purpose Cargo Vessel Will Be First of Its Kind in the United States, Bringing New Game-Changing Solutions to the Emerging U.S. Offshore Wind Industry

FAIR HAVEN, N.J.--(BUSINESS WIRE)--#AmericanMarineHighway--Furthering its support of the emerging offshore wind industry in the United States, Green Shipping Line (GSL) is pleased to announce it has signed a Teaming Agreement with leading European marine vessel engineer DEKC Maritime (DEKC) to pursue Jones Act compliant offshore wind vessel solutions in the United States.

GSL has been creating a viable solution for the U.S. offshore wind market for six years and has amassed a team of leading European and American partners to assist the U.S. in realizing its offshore wind goals. This announcement follows a string of deals by GSL, including an agreement with Keystone Shipping Company to operate future shuttle vessels in the U.S. offshore wind market and a Teaming Agreement with Moran Iron Works to construct future vessels.

“DEKC's extensive knowledge and capabilities provide GSL with an ideal partner to design our fleet of modern Jones Act feeder vessels, including our flagship Eleanor model,” said Percy R. Pyne IV, founding partner of GSL. “This agreement furthers our ability to provide efficient, proven, green solutions for offshore wind developers and component manufacturers in the U.S.”

DEKC Maritime, headquartered in Groningen, Netherlands, is a leader in design and engineering for new build vessels. The company has designed a multi-purpose vessel known as the ‘swiss army knife’ vessel of the offshore wind industry in Europe for its extreme versatility and durability. GSL’s multi-purpose cargo vessel – the “Eleanor” model – will complement DEKC’s trusted European offshore wind vessel, which is widely used today. With an approval in principle from the American Bureau of Shipping, GSL’s “Eleanor” model is highly efficient with the ability to transport offshore wind components (towers, nacelles and blades) from a port to installation sites in a two-day cycle, cutting down on costs and production time by over 40 percent. In fact, it will be the first vessel of its kind in the U.S. capable of transporting all of the components of a wind tower.

The 364-ft multipurpose vessel can also be configured to perform rock dumping, scour protection, and offshore accommodation. Fully Jones Act compliant, the “Eleanor” will be built in the U.S. at the Moran Iron Works Shipyard in Onaway Michigan and operated by Keystone Shipping Company. It will be flagged American and manned by an American crew and can operate out of all the regional ports along the United States’ East Coast due to its unique dimensions and draft. The Eleanor model will be available for delivery as soon as mid-2023.

“We look forward to sharing our knowledge and expertise with GSL and helping develop their fleet. Our aim is to take the experience we have gathered over the past decade in offshore wind and utilize it to provide the best vessels and solutions for the emerging U.S. offshore wind market,” said Cor Lettenga, Managing Director of DEKC Maritime.

“We are honored to be working with DEKC Maritime and the rest of our talented team of professionals including: Voith, Cranemaster, Moran Iron Works, Keystone Shipping, and Navis Naval Management and Consultancy on bringing a tried-and-true Jones Act compliant solution to support U.S. offshore wind industry,” added Pyne. “Our standards follow what our European partners have established. Using their vast experience as our roadmap, our international team will help the U.S. realize its offshore wind goals,” he added.

GSL, headquartered in New Jersey, is focused on facilitating the economic construction of modern, fuel-efficient Jones Act vessels. GSL’s feeder vessels will provide the offshore wind industry a unique, economic multi-purpose solution, which can be used throughout the life cycle of an offshore wind installation. Following an extensive study that included examining U.S. and European ports, channels and quays and multiple visits to Europe to look at wind farm components, GSL identified an existing vessel design that would not require dredging to accommodate U.S. ports or manufacturing needs. For more information on Green Shipping Line, please visit www.greenshippingline.com.

For additional images, videos and press materials, visit Green Shipping Line’s Digital Press Kit via Dropbox linked here.

Cindi Perantoni Rodgers
LMA Consultants
305-962-9206
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ANKENY, Iowa--(BUSINESS WIRE)--Casey’s General Stores, Inc., ("Casey's" or the "Company") (Nasdaq: CASY) one of the leading convenience store chains in the United States, today announced financial results for the three months and year ended April 30, 2021.

Fourth Quarter 2021 Key Highlights

• Diluted EPS of $1.12.
• Fuel margin of 33.0 cents per gallon. Fuel same-store gallons sold up 6.4%.
• Inside same-store sales were up 12.8% as inside guest counts steadily improved. Inside margin improved 100 basis points to 39.9% as compared to prior year.

Fiscal Year 2021 Key Highlights

• Closed fiscal 2021 with Diluted EPS of $8.38, an all-time high.
• Casey's generated strong cash flow and ended the year with a healthy balance sheet.
• Annual digital sales increased 96% compared to prior year with 3.6 million Casey’s Rewards members at fiscal year-end.
• Casey's recently closed on the Buchanan Energy acquisition and anticipates closing on the previously disclosed Circle K acquisition in June.

“Casey’s achieved remarkable results throughout the year in one of the most difficult retail environments of our lifetime," said Darren Rebelez, President and CEO. “The entire Casey’s team proved themselves resilient in spite of these challenges, and made excellent progress on our long-term strategic plan while keeping our people and communities safe. We have great momentum behind our digital engagement efforts, our private brand products have resonated with our guests, our prepared foods business is regaining traction, and we are in the process of welcoming two large acquisitions to the Casey's family. We are now poised to emerge from the pandemic an even stronger company.”

Earnings

Net income, Diluted EPS, and Adjusted EBITDA (reconciled later in the document) in the fourth quarter were down as compared to the prior year due primarily to lower fuel margin and higher operating expenses, partially offset by higher inside gross profit.

Fuel

Same-store gallons sold were up significantly in the back half of the quarter due to the favorable comparison to the start of the pandemic a year ago. The Company’s overall fuel gross profit was down 11% primarily due to the unusually high fuel margin achieved last year via supply and demand shocks from COVID-19 and macroeconomic conditions in the oil industry. The centralized fuel team coupled with procurement improvements contributed to the Company's fuel margin of 33.0 cents per gallon. The Company did not sell RINs during the fourth quarter, as compared to selling $2.6 million in the prior year.

Inside

Inside same-store sales were driven by a resurgence in pizza slices, dispensed beverage, and bakery as Casey’s began lapping COVID-19 related traffic disruption. Whole pizza pie sales remained strong throughout the quarter as well. Inside margins improved primarily due to strategic sourcing initiatives and previous merchandise resets, along with a favorable mix shift of private brands, packaged beverage, and prepared foods.

Operating Expenses

Operating expenses for the fourth quarter were up primarily due to increased store-level operating hours and costs as we lapped COVID-19 related shutdowns from the same time a year ago. Also contributing to the increase were $8 million in incremental incentive compensation expense due to strong financial performance, higher credit card fees due to the rising retail price of fuel and increased volume, and operating 36 more stores than this time last year.

Expansion

Liquidity

At April 30, the Company had approximately $810 million in available liquidity, consisting of approximately $335 million in cash and cash equivalents on hand and $475 million in undrawn borrowing capacity on existing lines of credit.

Share Repurchase

The Company has $300 million remaining under its existing share repurchase program which expires in April 2022. There were no repurchases made against that authorization in the fourth quarter.

Dividend

At its June meeting, the Board of Directors voted to pay a quarterly dividend of $0.34 per share. The dividend is payable August 16, 2021 to shareholders of record on August 2, 2021.

Buchanan Energy Transaction

On May 13, 2021, Casey's closed on the Buchanan Energy acquisition. The transaction was financed with a $300 million draw on a bank term loan and cash. Buchanan Energy is expected to add approximately $45 million in annual EBITDA contribution in fiscal 2022, but will be dilutive in the first quarter due to the related transaction costs.

Fiscal 2022 Outlook

Casey's expects to build on the momentum of fiscal 2021, however, uncertainty remains regarding the timing of recovery from the COVID-19 pandemic. The Company expects same-store fuel and inside sales to increase by mid-single digit percentages. Total operating expenses are expected to increase by mid-teen percentages, driven primarily by adding approximately 200 units during fiscal 2022, as well as expenses related to adding back operating hours to the stores and expected wage pressures. Depreciation and amortization is expected to be approximately $300 million, interest expense is expected to be approximately $50 million, and the tax rate is expected to be approximately 26.0%. The Company is also expecting to add approximately $500 million in property and equipment in the fiscal year, including acquisition remodels. As a reminder, with the exception of same-store sales, the estimates in this paragraph include the impact of the Buchanan Energy and Circle K acquisitions. 

RECONCILIATION OF NET INCOME TO EBITDA AND ADJUSTED EBITDA

We define EBITDA as net income before net interest expense, income taxes, depreciation and amortization. Adjusted EBITDA further adjusts EBITDA by excluding the gain or loss on disposal of assets as well as impairment charges. Neither EBITDA nor Adjusted EBITDA are considered GAAP measures, and should not be considered as a substitute for net income, cash flows from operating activities or other income or cash flow statement data. These measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of our results as reported under GAAP. We strongly encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.

We believe EBITDA and Adjusted EBITDA are useful to investors in evaluating our operating performance because securities analysts and other interested parties use such calculations as a measure of financial performance and debt service capabilities, and they are regularly used by the Company for internal purposes including our capital budgeting process, evaluating acquisition targets, assessing performance, and awarding incentive compensation.

Because non-GAAP financial measures are not standardized, EBITDA and Adjusted EBITDA, as defined by us, may not be comparable to similarly titled measures reported by other companies. It therefore may not be possible to compare our use of these non-GAAP financial measures with those used by other companies.

The following table contains a reconciliation of net income to EBITDA and Adjusted EBITDA for the three and twelve months ended April 30, 2021 and 2020:

NOTES:

• Gross Profit or Margin is defined as revenue less cost of goods sold (exclusive of depreciation and amortization)
• Inside is defined as the combination of Grocery and Other Merchandise and Prepared Food and Fountain

This release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those related to the Buchanan Energy and Circle K acquisition, expectations for future periods, possible or assumed future results of operations, financial conditions, liquidity and related sources or needs, business and/or integration strategies, plans and synergies, supply chain, growth opportunities, performance at our stores, and the potential effect of COVID-19. There are a number of known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from any future results expressed or implied by those forward-looking statements, including but not limited to the timing and integration of the foregoing acquisitions, executing our strategic plan, the impact and duration of COVID-19 and related governmental actions, as well as other risks, uncertainties and factors which are described in the Company’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as filed with the Securities and Exchange Commission and available on our website. Any forward-looking statements contained in this release represent our current views as of the date of this release with respect to future events, and Casey’s disclaims any intention or obligation to update or revise any forward-looking statements in the release whether as a result of new information, future events, or otherwise.

Corporate information is available at this website: https://www.caseys.com. Earnings will be reported during a conference call on June 9, 2021. The call will be broadcast live over the Internet at 7:30 a.m. CST. To access the call, go to the Events and Presentations section of our website at https://investor.caseys.com/events-and-presentations/default.aspx. No access code is required. A webcast replay of the call will remain available in an archived format on the Events and Presentations section of our website at https://investor.caseys.com/events-and-presentations/default.aspx for one year after the call.

Investor Relations Contact:
Brian Johnson (515) 965-6587

Media Relations Contact:
Katie Petru (515) 446-6772

In preparation to operate a two-ship fleet, with the largest non-governmental hospital ships in the world, Mercy Ships needed a social marketing platform that could bring together social efforts for 16 national offices across four different continents.

NEW YORK--(BUSINESS WIRE)--Emplifi, the leading unified customer experience platform, today announced it has been selected by Mercy Ships, the hospital ship charity, to boost the healthcare organization’s social media presence and expand its global reach. Serving 16 national offices across four continents, the Mercy Ships Global Brand Team needed a comprehensive social media marketing platform that would enable it to consolidate and localize its messaging across countries and cultures. After a three-month evaluation period, Mercy Ships determined that Emplifi was best equipped to provide the social media marketing tools needed, along with a supportive team who understood and valued the organization’s mission.

“We wanted to partner with a company that not only offered a best-in-class social media marketing solution, but had a heart for what we do,” said Jitze Kramer, Vice President of Global Branding. “Emplifi’s platform met every single one of our requirements, including an intuitive user interface and dashboard, easy-to-use publishing tools, and deep analytics with helpful industry benchmarks. But more importantly, we knew the Emplifi team would go the extra mile for us and was genuine in their desire to help us grow. Emplifi’s solution is integral to our donor initiatives and outreach programs, allowing us to engage with our audience consistently across the global communities we serve.”

Mercy Ships manages ‘floating hospitals’ that provide safe and timely surgery to the most vulnerable in Africa. The organization relies primarily on volunteers and donor-contributions to deliver improved medical infrastructure to these communities that have little to no access to healthcare. Currently operating the Africa Mercy, this summer, Mercy Ships will complete the construction of Global Mercy™. When in service, the new ship will more than double the current surgical and training capacity for the charity.

“We’re excited to support the mission of Mercy Ships and the medical services they provide,” said Mark Zablan, CEO at Emplifi. “It’s fantastic to see the impact that Mercy Ships has had delivering free, world-class healthcare to developing countries around the world. We are 100% committed to do what we can to help them recruit more volunteers, raise more donor contributions, and increase awareness of the great work they do.”

Since implementing Emplifi’s platform in March, Mercy Ships has experienced a high adoption rate among its offices, with staff from Asia-Pacific, Europe, North America, and Africa able to localize, distribute and share social media content and assets. The Mercy Ships Global Brand Team found the onboarding process was seamless and that collaboration has greatly increased across the organization.

“The continued support we have received from the team at Emplifi has proven highly valuable. They are truly a partner,” said Francesco Tuzzolino, Digital Marketing Director, who is managing the integration for this new digital marketing approach. “Our three primary social media marketing goals are focused on brand governance, education, and enablement. As the charity ramps up its activities this year, Emplifi has enabled us to make considerable progress in all three categories in less than a month.”

About Emplifi

Emplifi is the leading unified CX platform that brings marketing, care, and commerce together to help businesses close the customer experience gap. More than 7,000 brands, including Delta Air Lines, Ford Motor Company and McDonalds, rely on Emplifi to provide their customers with outstanding experiences at every touchpoint. For more information, visit www.emplifi.io

About Mercy Ships

Mercy Ships uses hospital ships to deliver free, world-class healthcare services, capacity building, and sustainable development to those with little access in the developing world. Founded in 1978 by Don and Deyon Stephens, Mercy Ships has worked in more than 55 developing countries, providing services valued at more than $1.7 billion and directly benefitting more than 2.8 million people. Our ships are crewed by volunteers from over 60 nations, with an average of over 1200 volunteers each year. Professionals including surgeons, dentists, nurses, healthcare trainers, teachers, cooks, seamen, engineers, and agriculturalists donate their time and skills. With 16 national offices and an Africa Bureau, Mercy Ships seeks to transform individuals and serve nations. For more information click on www.mercyships.org

Amlika Lal
Global PR Director, Emplifi
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Laura Rebouche´
U.S. National Media Relations Director Mercy Ships
Direct: +1 903.939. 7137
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Diane Rickard
International Media Relations Manager
Mercy Ships
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MONTREAL & KANSAS CITY, Mo.--(BUSINESS WIRE)--CN (TSX: CNR) (NYSE: CNI) and Kansas City Southern (NYSE: KSU) (“KCS”) today issued the following statement in response to the Surface Transportation Board’s (“STB”) decision to issue a timetable for reviewing the voting trust in connection with the companies’ definitive merger agreement:

We are happy with the timetable that the STB has set for reviewing our voting trust, marking another important step on the path to creating the premier railway for the 21^st century. We look forward to the STB’s review and we are confident that our voting trust will be approved.

The plain vanilla voting trust, which is identical to the CP trust approved for use by the STB, is an integral component of the CN-KCS combination. It prevents premature control of KCS, allows KCS to maintain independence and protects KCS’ financial health during the STB’s review of the ultimate combination of CN and KCS. It also enables KCS shareholders to realize the full value of their shares without the delay related to this review.

As CN and KCS explained in their May 26, 2021, motion for voting trust approval, the CN-KCS combination offers multiple public interest benefits, including seamless single-owner, single-operator service, new and faster routes, significant environmental protections and increased supply chain efficiency. Specifically, through the creation of this true end-to-end merger, CN and KCS will:

• Facilitate coordinated investment into new single-line routes and will eliminate delays associated with interchanges;
• Reduce cycle and transit times while also providing for more reliable and timely service for customers;
• Offer more cost-effective access to Southern markets in the United States and Mexico, accelerating USMCA’s economic benefits; and
• Provide significant environmental benefits by reducing the amount of long-haul trucking traffic on the road in six major shipper market segments.

The proposed combination creates an end-to-end merger and provides no risk to competition. Customers will not lose any existing routing options because CN and KCS are committed to preserving access to all existing gateways to enhance route choices and to ensure robust price competition. This is underscored by the overwhelming support we continue to receive from customers and other stakeholders. We have received more than 1,400 letters of support filed to date, highlighting advantages such as improved service, more shipping options and greater efficiency. 293 of the latest support letters filed on June 2, 2021 cite specific support for use of the voting trust.

We look forward to receiving further public comment and engagement during the STB’s official public comment period, which will be open until June 28, 2021. We are confident that the STB will approve our voting trust and allow us to complete the transaction so that we can deliver the many compelling benefits of this combination to customers, ports, employees, communities and the environment.

For more information on CN’s pro-competitive combination with KCS, please visit www.ConnectedContinent.com.

About CN

CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.

About Kansas City Southern

Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com

Forward Looking Statements

Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to KCS, regarding the proposed transaction between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, or the combined company, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to: the outcome of the proposed transaction between CN and KCS; the parties’ ability to consummate the proposed transaction; the conditions to the completion of the proposed transaction; that the regulatory approvals required for the proposed transaction may not be obtained on the terms expected or on the anticipated schedule or at all; CN’s indebtedness, including the substantial indebtedness CN expects to incur and assume in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; CN’s ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that CN may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate KCS’ operations with those of CN; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of KCS may be difficult; the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; the adverse impact of any termination or revocation by the Mexican government of KCS de México, S.A. de C.V.’s Concession; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management’s Discussion and Analysis in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors relating to CN. Additional risks that may affect KCS’ results of operations appear in Part I, Item 1A “Risks Related to KCS’s Operations and Business” of KCS’ Annual Report on Form 10-K for the year ended December 31, 2020, and in KCS’ other filings with the U.S. Securities and Exchange Commission (“SEC”).

Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

No Offer or Solicitation

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information and Where to Find It

In connection with the proposed transaction, CN will file with the SEC a registration statement on Form F-4 to register the shares to be issued in connection with the proposed transaction. The registration statement will include a preliminary proxy statement of KCS which, when finalized, will be sent to the stockholders of KCS seeking their approval of the merger-related proposals. This news release is not a substitute for the proxy statement or registration statement or other document CN and/or KCS may file with the SEC or applicable securities regulators in Canada in connection with the proposed transaction.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT(S), REGISTRATION STATEMENT(S), TENDER OFFER STATEMENT, PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CN, KCS AND THE PROPOSED TRANSACTIONS. Any definitive proxy statement(s), registration statement or prospectus(es) and other documents filed by CN and KCS (if and when available) will be mailed to stockholders of CN and/or KCS, as applicable. Investors and security holders will be able to obtain copies of these documents (if and when available) and other documents filed with the SEC and applicable securities regulators in Canada by CN free of charge through at www.sec.gov and www.sedar.com. Copies of the documents filed by CN (if and when available) will also be made available free of charge by accessing CN’s website at www.CN.ca. Copies of the documents filed by KCS (if and when available) will also be made available free of charge at www.investors.kcsouthern.com, upon written request delivered to KCS at 427 West 12th Street, Kansas City, Missouri 64105, Attention: Corporate Secretary, or by calling KCS’s Corporate Secretary’s Office by telephone at 1-888-800-3690 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

Participants

This news release is neither a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the SEC and applicable securities regulators in Canada. Nonetheless, CN, KCS, and certain of their directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transactions. Information about CN’s executive officers and directors is available in its 2021 Management Information Circular, dated March 9, 2021, as well as its 2020 Annual Report on Form 40-F filed with the SEC on February 1, 2021, in each case available on its website at www.CN.ca/investors/ and at www.sec.gov and www.sedar.com. Information about KCS’ directors and executive officers may be found on its website at www.kcsouthern.com and in its 2020 Annual Report on Form 10-K filed with the SEC on January 29, 2021, available at www.investors.kcsouthern.com and www.sec.gov. Additional information regarding the interests of such potential participants will be included in one or more registration statements, proxy statements, tender offer statements or other documents filed with the SEC and applicable securities regulators in Canada if and when they become available. These documents (if and when available) may be obtained free of charge from the SEC’s website at www.sec.gov and from www.sedar.com, as applicable.

Media: CN
Canada
Mathieu Gaudreault
CN Media Relations & Public Affairs
(514) 249-4735
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Longview Communications & Public Affairs
Martin Cej
(403) 512-5730
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United States
Brunswick Group
Jonathan Doorley / Rebecca Kral
(917) 459-0419 / (917) 818-9002
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Media: KCS
C. Doniele Carlson
KCS Corporate Communications & Community Affairs
(816) 983-1372
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Joele Frank, Wilkinson Brimmer Katcher
Tim Lynch / Ed Trissel
(212) 355-4449

Investment Community: CN
Paul Butcher
Vice-President
Investor Relations
(514) 399-0052
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Investment Community: KCS
Ashley Thorne
Vice President
Investor Relations
(816) 983-1530
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MacKenzie Partners, Inc.
Dan Burch / Laurie Connell
(212) 929-5748 / (212) 378-7071

DUBLIN--(BUSINESS WIRE)--The "Global SURF (Subsea Umbilical, Riser and Flowline) Market (2021 Edition) - Analysis By Product Type, Water Depth, Application, By Region, By Country: Market Insights and Forecast with Impact of Covid -19 (2021-2026)" report has been added to ResearchAndMarkets.com's offering.

The demand for oil witnessed a huge slump in the year 2020 due to the Covid-19 pandemic but has recovered around two-thirds of the lost demand as of March 2021. It is expected that the demand for oil will return to pre-Covid level by year-end 2022. However, the expectations and prospects depend on the vaccination rollout, no further waves of Covid and also the removal of lockdowns and restrictions.

The Global SURF (Subsea Umbilical, Riser and Flowline) Market was valued at USD 7.4 billion in the year 2020. Growing demand for energy efficient systems that can bring crude oil and gas to the processing plants along with increasing investments toward subsea projects will drive the global subsea umbilical, risers and flowlines (SURF) market growth. The major factor that is boosting the demand for the subsea products is a global increase in offshore expenditure, dynamic oil prices and deep-water exploration & production of crude oil and natural gas. Additionally, increasing installation of floating rigs along with surging energy demand will further complement the business outlook.

APAC region holds the major SURF market share and it is also projected to be a rapidly growing region during the forecast period. The market is estimated to expand significantly owing to the rise in production activities in the region.

In recent years, the demand for subsea control systems and related wellhead control equipment has been growing. However, increasing oil and gas exploration activities and the sale of subsea control systems have been affected on a great scale due to the Covid-19 outbreak.

Shallow water subsea umbilical, risers and flowlines (SURF) market accounted for a majority of the global market share in the year 2020. Ongoing capital expenditure toward E&P activities coupled with declining operational cost will stimulate the market growth. In addition, growing demand for oil and gas from several industries including refinery will further complement the business landscape.

Companies Mentioned

• TechnipFMC
• Aker Solutions
• Prysmian Group
• Schlumberger Limited
• Subsea 7
• Helix
• Dril-Quip
• NOV
• Ocean Installer AS
• DeepOcean Group Holding BV

Scope of the Report

• The report presents the analysis of SURF market for the historical period of 2016-2020 and the forecast period of 2021-2026.
• The report analyses the SURF Market by Product Type (Flowline, Umbilical, Riser).
• The report analyses the SURF by Water Depth (Shallow water, Deepwater).
• The report analyses the SURF by Application (Oil Industry, Natural Gas Industry).
• The SURF Market has been analysed By Region (Americas, Europe, Asia Pacific, MEA) and By Country (United States, Mexico, Brazil, United Kingdom, Norway China, India, Australia, Africa, Saudi Arabia).
• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, Product Type, Water Depth, Application. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.

Key Topics Covered:

1. Report Scope and Methodology

2. Strategic Recommendations

3. SURF Market: Product Overview

4. SURF Market: Sizing and Forecast

4.1 Market Size, By Value, Year 2016-2020

4.2 Market Size, By Value, Year 2021-2026

4.3 Impact of COVID-19 on Global SURF Market

4.4 Global Economic & Industrial Outlook

5. SURF Market Segmentation, By Product Type (Value)

6. SURF Market Segmentation, By Water Depth (Value)

7. SURF Market Segmentation, By Application (Value)

8. Global SURF Market: Regional Analysis

9. Americas SURF Market: An Analysis (2016-2026)

10. Europe SURF Market: An Analysis (2016-2026)

11. APAC SURF Market: An Analysis (2016-2026)

12. MEA SURF Market: An Analysis (2016-2026)

13. Global SURF Market Dynamics

13.1 Global SURF Market Drivers

13.2 Global SURF Market Restraints

13.3 Global SURF Market Trends

14. Market Attractiveness and Strategic Analysis

14.1 Market Attractiveness

14.1.1 Market Attractiveness Chart of Global SURF Market - By Product Type (Year 2026)

14.1.2 Market Attractiveness Chart of Global SURF Market - By Water Depth (Year 2026)

14.1.3 Market Attractiveness Chart of Global SURF Market - By Application (Year 2026)

14.1.4 Market Attractiveness Chart of Global SURF Market - By Region (Year 2026)

15. Competitive Landscape

15.1 Global Leading SURF company market share, 2020

15.2 SWOT Analysis

15.3 Porter's Five Force Analysis

16. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/7afuxd

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina, today announced the appointment of an independent chair and the nomination of a new independent member of the Board for election at the upcoming Annual General Meeting (“Annual Meeting”), to be held on July 15, 2021. These changes further strengthen the Company’s governance profile and create a majority independent and more diverse Board of Directors.

Appointment of an Independent Chair

Sylvia Escovar Gomez, independent director, has been appointed by the Board and succeeds Mr. Gerald O’Shaughnessy, 72, as the new Chair of the Board.

Ms. Escovar, 60, has served on the Board since August 2020 and is currently a member of the Board’s Audit Committee and Nomination and Corporate Governance Committee. She has significant government, multilateral organization and private sector experience. From 2012 to January 2021, she was the CEO of Terpel S.A., a fuel distribution company with operations in Colombia, Ecuador, Panama, Peru and the Dominican Republic. Ms. Escovar transformed and improved Terpel’s business model, expanding the range and quality of its services and enhancing its performance in the long-term. Under Ms. Escovar’s leadership, Terpel delivered its best financial results in its over 50-year history, became Colombia’s second largest company with annual revenues over $4.0 billion and consistently achieved high rankings in the RobecoSAM Sustainability Yearbook.

Over her career, Ms. Escovar has worked for the World Bank, the Central Bank of Colombia and the Colombian National Department of Planning. She has served as Deputy Secretary of Education and Deputy Secretary of Finance for the Bogota municipal government, as well as Vice President of Finance for Fiduciaria Bancolombia. In 2014, Ms. Escovar was named the top businessperson of the year by Portafolio, Colombia’s leading financial daily. In 2018, she received the National Order of Merit for spearheading private sector support for peacebuilding and reconciliation in Colombia. And in 2020, she was the only woman to rank in the top 10 on the Corporate Reputation Business Monitor’s list of Colombian leaders with the best reputation. Ms. Escovar’s other Board memberships include Grupo Bancolombia, Empresa de Telecomunicaciones de Bogotá, Compañía de Medicina Prepagada Colsanitas S.A. and Organización Corona S.A.

James F. Park, CEO of GeoPark, said: “The Board would like to express its sincere gratitude to Sylvia for accepting the Chair at this exciting and dynamic time for GeoPark. Her significant public and private sector experience across many of the countries where we operate will be invaluable as we continue to expand within Latin America. As a successful CEO, running one of Latin America’s largest companies, Sylvia brings critical operating and governance experience to our organization. Since joining the Board last year, Sylvia has impressed the rest of the Board with her insights and commitment to advancing our business strategy to build value for all shareholders. We look forward to her oversight and continued contributions as Chair.”

Ms. Escovar said: “It is an honor to take over as Board Chair of this entrepreneurial and well-respected company. GeoPark’s talented team and strong culture provide a powerful foundation for continued growth. I look forward to leading GeoPark’s diverse and collaborative board and contributing to this great company going forward.”

Mr. Park continued: “The Board thanks Gerry for his years of leadership and invaluable service to GeoPark as co-founder and Chairman. Through Gerry’s vision, trust and persistence, we have built GeoPark into a preeminent Latin American E&P company with an 18-year track record of growth and performance delivery, the strongest oil and gas team in the region, an extensive asset portfolio for continued future growth, and deep bonds to the communities in which we operate. Personally, I am grateful for Gerry’s special friendship and partnership and the fun we had – as well as the challenges we faced – building GeoPark together.” Mr. O’Shaughnessy has been GeoPark’s Chairman and a Board member since he co-founded the Company in 2002.

Nomination of a New Independent Director

GeoPark also announces that its Board has nominated Maria Fernanda Suarez for election as a new independent director at its Annual Meeting.

Ms. Suarez, 46, has a highly distinguished career in both the public and private sectors, including serving as Minister of Energy and Mines of Colombia and as Vice President of Strategy and Finance (CFO) of Colombia’s national oil company Ecopetrol (NYSE: EC).

As Colombia’s Minister of Energy — a cabinet level position — she led efforts to bring safe and affordable energy to wide sectors of the Colombian population by increasing hydrocarbons production and promoting the development of non-conventional renewable sources. Under her leadership, Colombia’s wind and solar installed capacity increased to 12 percent of the energy mix from 0.1 percent. Previously, she also served as Director of Public Credit and the National Treasury in the Colombian Finance Ministry.

In more than 15 years in the private sector, Ms. Suarez also served as the Vice President of Porvenir, a leading Colombian pension fund, and Vice President at Citibank, ABN AMRO and Bank of America. Ms. Suarez currently serves on the Advisory Board of the Nature Conservancy Colombia, and the boards of CorfiColombiana and Organización Corona S.A. Ms. Suarez has also been a member of the board of directors of several companies in the energy sector, including Cenit, Ocensa, ISA, ISAGEN and Reficar.

Mr. Park concluded, “We are excited to welcome Maria Fernanda to the GeoPark Board as our newest independent director. She brings a wealth of experience in both energy and finance with outstanding experience within Colombia as the former Minister of Energy and Mines and Vice President of Strategy and Finance (CFO) at Ecopetrol. Maria Fernanda is a successful performance-driven executive who has made a positive impact in every organization she has worked in – public or private. From hydrocarbons to renewables, her experience in energy will be beneficial in guiding GeoPark in a transitioning world. We all look forward to working closely with Maria Fernanda to build on GeoPark’s strong foundation and continue generating sustainable long-term value for shareholders.”

Ms. Suarez said: “I look forward to joining GeoPark’s Board and to work alongside its other directors to further develop the Company’s enormous success across Latin America. Having spent my career working in Colombia in both public and private sector energy roles, I believe that GeoPark is a company with great growth opportunities in the future."

With the naming of Ms. Escovar as Chair and the nomination of Ms. Suarez, the Board is directed by an independent director and will have a majority of independent directors, in line with corporate governance best practices.

NOTICE

Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This press release contains statements that constitute forward-looking statements. Many of the forward- looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.

Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including the new Chair and composition of the Board of Directors. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.

Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).

For further information, please contact:

INVESTORS:

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Shareholder Value Director
T: +562 2242 9600

Miguel Bello This email address is being protected from spambots. You need JavaScript enabled to view it.
Market Access Director
T: +562 2242 9600

Diego Gully This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations Director
T: +5411 4312 9400

MEDIA:

Communications Department
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Application process now open for startups addressing climate change in Atlantic City, Baltimore, Chicago, Philadelphia, Washington, D.C., and Wilmington, DE

CHICAGO--(BUSINESS WIRE)--The Exelon Foundation and Exelon Corp., the nation’s largest generator of carbon-free energy, have selected nine startups to receive funding to reduce greenhouse gas emissions and mitigate climate change as part of the company’s Climate Change Investment Initiative (2c2i). Now in its second year, the initiative demonstrates the Exelon Foundation’s commitment to support programs that benefit the environment, particularly those in underserved communities, which are disproportionately impacted by climate change. The 2c2i initiative adds to Exelon Corp.’s continuing goal to create a clean, next-generation energy grid, utilizing the innovative approach of impact investing to mitigate climate change.

The first cohort of the Exelon 2c2i selected startups have been busy this past year, with projects ranging from Amidus Resilience’s distributed solar installation in Washington, D.C., to the pending deployment of Dynamhex’s map-based decarbonization tool in the Baltimore, Md., region to Greenprint Partner’s rain-friendly, green stormwater mitigation project about to break ground at Sankofa Freedom Academy, a K-12 Charter school in Philadelphia. For a full list of the first 2c2i portfolio, please click here.

The second round of selected startups to receive funding include:

Cambium Carbon

Based in Albuquerque, N.M., Cambium Carbon is a circular economy platform for trees in US cities that connects broken local supply chains through tech to create a new, highly desirable, class of wood called Carbon-Smart Wood^TM. They are building a two-sided marketplace where customers can access hyper-sustainable wood, and suppliers have a software-enabled connection to large recurring orders.

ClearFlame

With headquarters in Geneva, Ill., ClearFlame’s patented engine technology enables diesel engines to run on decarbonized liquid fuels without sacrificing performance or practicality, driving the fastest path to true emissions reduction in heavy-duty industry.

Climate Robotics

Climate Robotics leverages advanced robotics and artificial intelligence to fight climate change through the development of autonomous, continuous biochar production systems to improve soils and help sequester carbon. Climate Robotics is based in Walnut, Calif.

Compost Crew

Based in Rockville, Md., Compost Crew's organics recycling business offers simple, convenient and affordable food waste collection services at scale. This company integrates its distributed composting technology with its collection routes to build closed loop food recycling networks for any community, municipality or business.

ecoSPEARS

ecoSPEARS is a cleantech company ushering in the net-zero future of environmental remediation. This Altamonte Springs, Fla.--based company develops transformative green technologies that extract and eliminate persistent toxins like PCBs, dioxins, and other persistent organic pollutants (POPS) from the soil, sediment, and water utilizing non-thermal and non-combustion technologies invented by NASA.

ISeeChange

ISeeChange’s digital dialogue and data platform enables cities to improve modeling, develop smarter infrastructure, enhance emergency preparedness, and grow public trust in major public infrastructure projects. By building collective climate intelligence, this New Orleans-based company saves clients hundreds of thousands of dollars and helps to efficiently facilitate inclusive adaptation to big changes.

Lula

Headquartered in Philadelphia, Lula provides carbon-neutral delivery solutions for convenience stores, pharmacies, and CPG brands that do not have a secondary sales channel, offering the first multi-vendor 30-minute delivery platform and a commitment to building a cleaner, more sustainable world.

Manta Biofuel

Manta Biofuel produces renewable, cost-competitive, carbon-neutral heating oil produced from the CO2 that their algae biomass captures from the air. Located in Owings Mills, Md., this company’s process is unique because it is agricultural, distributed, and modular, in contrast to the photobioreactors of biofuel's past.

Varuna

Varuna's data and insights platform generate digital representations of physical (utilities and buildings) water systems, through the deployment of sensors and an AI-powered software platform. Based in Chicago, Varuna’s platform empowers operators to effectively manage the system, predict shocks and increase system resilience.

Over 10 years, the Exelon Foundation is contributing $10 million to fund the 2c2i initiative, focusing on clean energy and environmental technologies with potential for wide-scale commercialization. Exelon Corporation matches that investment with up to a $10 million in-kind investment of pro-bono services, including mentoring entrepreneurs on ways to access other sources of capital, structure business plans, allocate financial resources and meet regulatory requirements. Selected startups also can tap the company’s internal innovation programs – Constellation Technology Ventures and Partnership R&D – for counsel.

To qualify for 2c2i consideration, startups must be doing work that will benefit one or more of Exelon’s six major urban markets (Atlantic City, Chicago, Baltimore, Philadelphia, Washington, D.C., and Wilmington, DE.) and have the potential to do one of the following:

• Mitigate greenhouse gas emissions;
• Boost the resiliency of urban infrastructure (e.g., the power grid, transportation systems, buildings, vacant land) against flood, stormwater and rising temperatures;
• Help cities, businesses and communities adapt to climate change; or
• Help achieve a state or city’s specific sustainability and climate goals.

The application process for year three of 2c2i is open. For more information, click here.

The Exelon Foundation would like to recognize 2021 law firm sponsor, Katten, which is providing in-kind legal services in support of the 2c2i program climate investments.

About Exelon

Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.

About the Exelon Foundation

The Exelon Foundation is an independent, nonprofit organization funded solely by Exelon Corporation through shareholder dollars. The mission of the Foundation is to encourage respect for the environment, support innovative STEM education programs and strengthen the social and economic fabric of the community by providing a match to Exelon employee contributions.

Elizabeth Keating
Exelon Corporate Communications
312-848-0176
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Will increase efficiency and power density of renewable-energy power supply systems rated DC1500V

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today the coming launch of its T-series 2.0kV Insulated Gate Bipolar Transistor (IGBT) Module for Industrial Use, the world’s first IGBT¹ with 2.0kV withstand voltage, on June 30. The module is ideally suited to increase the efficiency and reduce the size of renewable-energy power converters, which are in high demand due to the growing use of renewable-energy power supplies. The module will be exhibited at the Applied Power Electronics Conference (APEC) 2021 Virtual Exposition from June 15 to 16.
¹ According to Mitsubishi Electric research as of June 9, 2021

Product Features

1) World-first IGBT with 2.0kV withstand voltage for more compact DC1500V power converters

• World’s first 2.0kV-rated IGBT suitable for DC1500V-rated power converters, which are difficult to design using conventional 1.7kV-rated IGBTs.
• Enables development of simpler and smaller DC1500V-rated power converters without need for complex topology, such as three-level NPC (I-type connection).^{2
  2} Circuit topology consisting of four series-connected IGBTs and two clamp diodes connected to voltage-neutral point in one leg

2) 7th-generation IGBT and RFC diodes help reduce power loss in power converters

• Suitable for high-voltage, lower-power-loss applications as latest (7th-generation) IGBT with CSTBT^{TM 3} structure and RFC (Relax Field of Cathode) diodes⁴ optimized for high withstand voltage.
  ³ Mitsubishi Electric’s unique IGBT that utilizes the carrier cumulative effect
  ⁴ Mitsubishi Electric’s original diode that optimizes electron mobility on cathode side

For the full text, please visit: www.MitsubishiElectric.com/news/

Customer Inquiries
Power Device Overseas Marketing Dept. A and Dept. B
Mitsubishi Electric Corporation
www.MitsubishiElectric.com/semiconductors/

Media Inquiries
Takeyoshi Komatsu
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2346
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www.MitsubishiElectric.com/news/

Deal includes Hyde GUARDIAN®, RAYOX®, SENTINEL® and C3 SERIES UV, combining the capabilities of both organizations to meet exponential demand for advanced water treatment technologies

PITTSBURGH--(BUSINESS WIRE)--De Nora, a global leader in the delivery of sustainable technologies, has today announced the acquisition of the UV Technologies Division (“CCUV”) from Calgon Carbon Corporation. The deal includes municipal and industrial water ultraviolet disinfection brands RAYOX, SENTINEL and C3 SERIES UV, as well as the products, brands and assets of Hyde Marine, a world leader in UV ballast water management systems.

The acquisition, which was signed on June 7 and is expected to close on July 1, brings together the strong delivery track record, expertise and capabilities of De Nora and CCUV.

De Nora Water Technologies CEO Dr. Mirka Wilderer commented, “We are thrilled about this acquisition! It positions us to offer a complete range of solutions across the disinfection spectrum, for both regulated and non-regulated water management. CCUV Technologies enhances the value we deliver to our customers by offering solutions that are ideal for their unique water treatment needs. This supports our mission to be a partner of choice in the water treatment market.”

CCUV introduced one of the first advanced oxidation processes (AOP) UV systems to the market. UV AOP technology is capable of treating several contaminants that are not easily removed by other technologies. The acquisition will allow De Nora to accelerate worldwide efforts to combat these contaminants of emerging concern (CECs) and “forever chemicals” increasingly found in water supplies alongside its Capital Controls® ozone AOP solutions. Mitigation strategies are not one-size-fits all for notorious contaminants like chlorinated alkenes (DCE, TCE, PCE), 1,4-dioxane, vinyl chloride, NDMA and many others. CCUV brings to De Nora their extensive expertise and an innovative treatment algorithm to optimize the design of large-scale UV AOP treatment systems.

In the marine market, the acquisition will help stop the dispersal of invasive living species into new habitats via ballast water carried by commercial shipping vessels. The acquisition brings UV ballast water treatment to the De Nora portfolio. With their existing BALPURE® electrochlorination (EC) ballast water management system, De Nora will become one of the few global enterprises offering both UV and EC technologies in the marine market. This capability comes key at a time when the industry faces unprecedented demand for high quality water treatment technologies required to meet the International Maritime Organization’s Ballast Water Management Convention (BWMC).

Paolo Dellachà, CEO of De Nora, enthusiastically welcomed CCUV as he expressed that, “the synergies between the two businesses are very strong – each brings exceptional experience, strong track records, similar value propositions and well-aligned market channels. Both CCUV and De Nora are known for their emphasis on innovation and market development. I eagerly await the opportunity to meet the talented and expert colleagues who will be joining us from CCUV in the coming weeks.”

Until and after transaction closing, CCUV will continue to maintain normal operations towards customers and suppliers. For questions or concerns, please reach out directly to your normal business contacts.

ENDS

About De Nora

De Nora is a global provider of sustainable technologies and a partner of choice for industrial electrochemical processes and water and wastewater treatment solutions since 1923. Driven by a philosophy of continual improvement, De Nora delivers highly innovative electrodes, electrochemical systems, advanced filtration, and disinfection technologies to solve the most challenging applications for public health, municipal, marine, industrial water/wastewater treatment needs. Today, De Nora is committed to developing unconventional solutions to address the Energy Transition toward decarbonization, the hydrogen economy, ensuring clean water for all. More than 1,600 people provide the energy and expertise to fuel this exciting journey. https://www.denora.com

About Calgon Carbon

Calgon Carbon, a wholly-owned subsidiary of Kuraray Co., Ltd. (TYO: 3405) (Kuraray), is a global leader in the manufacture and/or distribution of innovative coal-, wood- and coconut-based activated carbon products – in granular, powdered, pelletized and cloth form – to meet the most challenging purification demands of customers throughout the world.

Calgon Carbon provides purification solutions for more than 700 distinct applications, including drinking water, wastewater, pollution abatement, and a variety of industrial and commercial manufacturing processes.

Headquartered in Pittsburgh, Pennsylvania, Calgon Carbon employs approximately 1,400 people and operates 20 manufacturing, reactivation, innovation and equipment fabrication facilities in the U.S., Asia, and in Europe, where Calgon Carbon is known as Chemviron.

Calgon Carbon was acquired by Kuraray in March of 2018. With complementary products and services, the combined organization will continue to focus on providing the highest quality and most innovative activated carbon and filtration media products, equipment, and services to meet customer needs anywhere in the world. For more information, visit calgoncarbon.com.

Fran House, De Nora
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+44 (0)7836 610 079

MUNICH & TOKYO--(BUSINESS WIRE)--On June 5 (World Environment Day*), Siemens Energy and Mitsubishi Electric signed a Memorandum of Understanding (MoU) to conduct a feasibility study on the joint development of high-voltage switching solutions with zero global-warming potential (GWP) that substitute greenhouse gases with clean air for insulation. Both companies will research methods for scaling up the application of clean-air insulation technology to higher voltages. They’ll start with a 245-kV dead-tank circuit breaker that will speed up the availability of climate-neutral high-voltage switching solutions for customers around the globe. Both partners will continue to manufacture, sell, and service switchgear solutions independently.

In most of the world's substations, sulfur hexafluoride (SF₆) – the most potent greenhouse gas in the world, with a potential for global warming roughly 23,500 times greater than CO₂, – is still the insulating gas of choice. Even with a very low number of leakages, the impact on global warming is significant. In light of the drive toward global decarbonization, the demand for alternatives is growing as operators seek future-proof technologies that significantly reduce the carbon footprint of their systems. At the same time, regulations to reduce or prohibit the use of fluorinated gases in the electrical industry are being reviewed and implemented in various parts of the world.

Siemens Energy and Mitsubishi Electric are pioneers in the development of high-voltage switching solutions. Both companies have been working on the development of SF₆-free gas-insulated switching solutions that replace the greenhouse gas with clean air, a pure mixture of nitrogen and oxygen, in order to contribute to global carbon-neutrality goals. To date, clean-air insulation is the only alternative to greenhouse gases and therefore poses zero health and safety risks. In conjunction with vacuum interrupters, a higher performance for switching applications is ensured, even compared with all known SF₆ circuit breakers.

For the full text, please visit: www.MitsubishiElectric.com/news/

Siemens Energy
Christina Hümmer
Tel: +49 152 07158923
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Takeyoshi Komatsu
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-6758
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www.MitsubishiElectric.com/news/　

VANCOUVER, B.C.--(BUSINESS WIRE)--Delta-Q Technologies (Delta-Q), a leader in battery charging solutions for electric vehicles and industrial equipment, introduced a new line of battery charging solutions with the launch of the XV3300 today. Its unique design combines a high-performance 3.3kW charger, a 500W DC-DC converter, and an EV charging station interface in a highly compact package. The XV3300 is the ideal solution for power-train electrification.

“The launch represents a significant product development milestone for Delta-Q,” said Steve Blaine, Co-CEO and Executive VP of Engineering & Quality with Delta-Q. “The XV3300 answers our OEM customers’ need for on-board charging power up to 20 kW delivered in a compact, fully sealed IP67 package. Our team also designed an included DC/DC converter for auxiliary DC loads, a VCIM (Vehicle Charge Interface Module) for simple connection to public EV charging, and the ability to stack the chargers for configurable power levels. We achieved all this in a 3.3 kW charger that is over twice as compact as our previous models.”

The 3.3kW charger will be available in 58.8V, 65V, and 120V models and is scalable, allowing OEMs to stack chargers for power levels up to 20kW. The XV3300 delivers a precise charge of battery packs of various chemistries and voltages to maximize battery life and optimize charge time.

Key features and benefits of the XV3300 charger include:

• High Reliability. The XV3300 battery charger is compact, rugged, and IP67-rated. It is tested for automotive-grade shock and vibration, and its fully sealed aluminum die-cast enclosure protects the charger from dust, liquids, and the effects of immersion in up to one meter of water.
• Flexible Power Options. The new solution is scalable. It can be paralleled to provide between 3.3 kW to 20 kW of power for faster-charging options. The charger is also available as an on-board and offboard charger to provide OEMs with additional flexibility.
• Enhanced Protection. The XV3300 is a low voltage charger that optimally charges all battery chemistries and nominal voltages between 48 V to 120 V. The 3.3 kW charger is also protected against short circuit, over-voltage, and over-temperature to ensure safe operation.
• DC-DC Converter. The integrated 500W DC-DC converter provides auxiliary power to operate vehicle accessories such as air-conditioners, controllers, lights, turn signals, navigation, and communication devices. It also eliminates the need for an external DC-DC converter, saving OEMs and equipment operators space and cost.
• EV Charging Station Interface. The XV3300 complies with SAE J1772 (levels 1 and 2) and IEC 61851 (modes 2 and 3) to charge from standard EVSE AC charging stations across North America and Europe. This feature provides greater flexibility and more charging options to end-users and more flexibility to the vehicle.
• Regulatory Compliance. The charger uses Controller Area Network (CAN-bus) communications. It carries a comprehensive set of global regulatory approvals, including touch-safe requirements for the European electric vehicle market and global regulations to ensure safe and optimal user experiences.

Production for the XV3300 will begin in the first half of 2022. Sign-up to get early access to samples ahead of production and exclusive content such as program updates, product specifications, videos, timing, and more! Visit https://connect.delta-q.com/xv3300

About Delta-Q Technologies software capabilities:

The Delta-Q software development team has more than a combined 60 years of CAN programming and customization experience. This team collaborates with Delta-Q's original equipment manufacturer (OEM) customers to deliver CAN-based charging solutions specific to their needs. Its current offerings include CAN bus communication for battery management systems and telematic integrations with CANopen and SAE J1939 protocols. Delta-Q's software team has built more than 200 custom algorithms, ensuring users experience better run time and flexibility for different lithium and lead-acid battery chemistries.

About Delta-Q Technologies

Delta-Q Technologies is charging the future and driving the world's transition into electric energy! We collaboratively design, test, and manufacture robust battery chargers that improve the performance of our customer's electric drive vehicles and industrial machines. As the supplier of choice for Tier 1 OEMs, we use our values, perseverance, and engineering expertise to guide our customers through the electrification process for a sustainable world.

We are part of the Zapi Group of companies and headquartered in Vancouver, Canada. Delta-Q's team and distribution spans five continents to service industries such as electric golf cars, lift trucks, aerial work platforms, e-mobility, floor care machines, utility/recreational vehicles, and new markets, like outdoor power equipment.

Amanda Yeo, Delta-Q Technologies
Marketing Manager
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AnnMarie Henriksson, Communiqué PR
Phone: (206) 282-4923 ext. 119
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MILLBRAE, Calif.--(BUSINESS WIRE)--#STEM--Stem, Inc. (“Stem” or “the Company”) (NYSE: STEM), a global leader in artificial intelligence (AI)-driven clean energy storage services, today provided additional information related to its previously announced participation at the upcoming Cowen Sustainability and Energy Transition Summit virtual investor conference. To access a live webcast of the Company’s presentation on Wednesday, June 9, 2021 at 11:50am EST, please register ahead of the scheduled start time at https://wsw.com/webcast/cowen93/stem/1973160. A link to the live webcast will also be made available on the Events and Presentations section of Stem’s investor relations website at https://investors.stem.com. At the conclusion of the presentation, a webcast replay will be available at the same website until September 8, 2021.

About Stem, Inc.

Stem (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena™, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. For more information, visit www.stem.com.

Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
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Stem Media Contacts
Cory Ziskind, ICR
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RADNOR, Pa.--(BUSINESS WIRE)--Airgas, an Air Liquide company and a leading U.S. supplier of industrial, medical and specialty gases, safety and welding products, announces the expansion of its High School Welding Education Initiative to 23 new schools and 6 returning schools. These programs were selected from a large number of excellent nominations based on four key factors: high unmet need at the school; a productive welding program with the potential to graduate job-ready welders; passionate teachers; and enthusiastic Airgas local champions.

2021 Participating Schools

Participating schools will receive a customized mix of hands-on professional development training or continuing education for welding teachers, welding consumables or equipment, safety PPE - such as RADNOR® welding and safety products - and other resources. The program also builds long-term relationships with local education leaders and Airgas welding and safety experts. As more schools participate in this program, Airgas is fielding increased interest and support from customers, suppliers, government officials, and Air Liquide colleagues, stemming from shared interest in boosting career opportunities and cultivating the next generation of welders.

The U.S. will need over 375,000 welding professionals by 2023 to fill job openings, according to recent projections accounting for economic growth, a retiring workforce, career advancement of the workforce, and technological advancements (Emsi, March 2020). With many high schools and junior colleges under-resourced throughout the United States, it is difficult to close the gap.

Over the past three years, Airgas has built on the success of a pilot program in Philadelphia and expanded the Airgas High School Welding Education Initiative to add additional underserved schools to the program. In 2020, 65 Airgas associates from 10 regions provided socially distant support to more than 1,000 welding students, 152 teachers and 29 schools and donated welding machines, consumables and PPE.

Andy Cichocki, Airgas Chief Operating Officer, commented: “As professionals in the metal fabrication industry, many of us know first-hand the importance of providing students with early exposure to emerging welding opportunities. We must continue to support our local communities and to find opportunities to enlist future generations of talented welders.”

Airgas, Inc.

Airgas®, an Air Liquide company, is a leading U.S. supplier of industrial, medical and specialty gases, as well as hardgoods and related products; one of the largest U.S. suppliers of safety products; and a leading U.S. supplier of ammonia products and process chemicals.

Dedicated to improving the performance of its more than 1 million customers, Airgas safely and reliably provides products, services and expertise through its more than 18,000 associates, over 1,400 locations, robust e-Business platform, and Airgas Total Access® telesales channel.

As an Air Liquide company, a world leader in gases, technology and services for Industry and Health, Airgas offers customers an unrivaled global footprint and industry-leading technology and innovations.

For more information, please visit airgas.com.

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 78 countries with approximately 64,500 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.

Air Liquide’s ambition is to be a leader in its industry, deliver long term performance and contribute to sustainability - with a strong commitment to climate change and energy transition at the heart of its strategy. The company’s customer-centric transformation strategy aims at profitable, regular and responsible growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.

Air Liquide’s revenue amounted to more than 20 billion euros in 2020. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.

Airgas Communications
Kim Menard
267-432-7146
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 Expands Hunting’s Tubing Conveyed Perforating Product Line

HOUSTON--(BUSINESS WIRE)--Titan Division of Hunting Energy Services, a subsidiary of Hunting PLC, the international energy services company, today added a dual mode firing head to its comprehensive tubing conveyed perforating (TCP) equipment line.

Utilized as either a bar-drop or a hydraulic firing head, this latest addition is an economical solution to maintaining two different firing head inventories, while allowing the operational flexibility to run either type of toolstring.

Hunting’s TCP technology, which is extensive enough to complete any TCP operation, is accessible through Hunting’s network of distribution centers strategically located in all the world’s oil-producing regions.

About Hunting

Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium-listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.

The company’s Hunting Energy Services Titan Division engineers and manufactures perforating systems, wireline selective firing systems, cased hole logging instruments, nuclear detectors, energetics, and associated wireline hardware and accessories.

Business Contact:
John Feuerstein, Hunting, 281-442-7382, This email address is being protected from spambots. You need JavaScript enabled to view it.

~Kloosterboer Group is a leading and reputable independent platform in Europe for integrated temperature-controlled storage, logistics and value-added services~

~The transaction combines highly strategic and complementary European facility footprints and diversified logistics capabilities~

~Kloosterboer’s founding family will continue their involvement in the Company to support future growth of the business~

NOVI, Mich. & ROTTERDAM, Netherlands--(BUSINESS WIRE)--#onelineage--Lineage Logistics, LLC (“Lineage” or the “Company”), one of the world’s leading and most innovative temperature-controlled industrial REIT and logistics solutions providers, today announced it has reached an agreement to acquire Kloosterboer Group (“Kloosterboer”), a leading independent integrated platform for temperature-controlled storage, logistics and value-added services in Europe. The transaction is subject to regulatory clearance and completion of the employee consultation process.

Kloosterboer consists of eleven facilities across the Netherlands, France, Germany, Canada and South Africa, totaling 6.4 million cubic meters of capacity and 790,000 pallet positions and employing over 900 team members. A family-owned company with a rich legacy as a vegetable trading company dating back to 1925, Kloosterboer has grown over generations to become one of Europe’s best-known supply chain solutions companies. The Kloosterboer family will continue to be involved in the future of the Company, choosing to become investors in Lineage and rolling a part of their sale proceeds into Lineage equity.

“Welcoming Kloosterboer into the Lineage family marks a monumental step toward achieving our vision to become the world’s most dynamic temperature-controlled logistics company with the capability to serve customers in different countries around the world,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “Kloosterboer’s strong entrepreneurial culture and management team, combined with their state-of-the-art, strategically located facility network perfectly complement Lineage’s international footprint and innovative spirit, which will deliver incredible value to our combined customers.”

In line with Lineage’s purpose of transforming the food supply chain to eliminate waste and help feed the world, Kloosterboer is recognized by BREEAM (Building Research Establishment Environmental Assessment Methodology) as a frontrunner in sustainable cold store operations. Kloosterboer’s network features nearly 18,000 solar panels, four wind turbines that power operations such as heavy lift equipment, and an annual reduction of CO2 equaling consumption of over 4,100 households.

“Kloosterboer has long focused on providing innovative and sustainable solutions, and we see great alignment with Lineage’s commitment to both the customer and the environment,” said the Kloosterboer family members. “We have known the founders of Lineage since 2014 and are confident Lineage is the right partner to help continue to serve our customers’ end-to-end logistical needs and accelerate the growth of Kloosterboer’s best-in-class capabilities. We are excited for a bright future full of opportunities for our team.”

Nielen Schuman acted as financial advisor to the Kloosterboer family and De Brauw Blackstone Westbroek served as its legal counsel. Rabobank acted as Lineage’s financial advisor and Latham & Watkins and Nauta Dutilh served as its legal counsel.

About Lineage Logistics

Lineage Logistics is one of the leading temperature-controlled industrial REIT and logistics solutions provider worldwide. It has a global network of over 350 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 16 countries across North America, Europe and Asia-Pacific . Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

About Kloosterboer

The Kloosterboer Group is a family-owned company with more than 95 years of experience in the handling of temperature-controlled food products, such as fish, meat, fruit, fruit juices and fruit concentrates, dairy and potato products. Kloosterboer develops and provides innovative and sustainable solutions in the supply chain for conditioned food products. Kloosterboer is committed to long-term relationships, strives to achieve cost savings for its customers and increase the level of service. The company is specialised in warehousing, stevedoring, forwarding, shipping, customs and logistics IT. With storage capacity in The Netherlands, France, Germany, Canada and South Africa, Kloosterboer is one of the leading companies in this sector. (www.kloosterboer.com)

Media Contacts:
Lineage Logistics
Megan Hendricksen
+1(949) 247-5172
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Kloosterboer Group
Uneke Dekkers
+31(0)650261626
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• Mineral Resource estimates have increased by 40% for quartz (11.5Mt), feldspar (17.8Mt), and mica (1.6Mt)
• Piedmont has added John Walker, former CEO of The Quartz Corp, as a strategic advisor to the Company
• Market analysis indicates far greater potential demand for Piedmont industrial mineral products than prior Company estimates
• The Company is advanced in discussions with prospective regional customers and strategic partners in the solar glass, engineered quartz, ceramic tile, and other industrial minerals markets
• Expanded quartz, feldspar, and mica production will feature in the Company’s upcoming technical studies

NEW YORK--(BUSINESS WIRE)--Piedmont Lithium Limited (“Piedmont” or the “Company”) (Nasdaq:PLL; ASX:PLL) is to announce an updated Mineral Resource estimate for industrial mineral products quartz, feldspar, and mica. The estimate is based on the lithium Mineral Resource previously reported on April 8, 2021 (39.2Mt @ 1.09 Li2O%) for spodumene bearing pegmatites at the Company’s flagship Piedmont Carolina Lithium Project (“Project”) in North Carolina, USA.

To help advance the marketing of these mineral products, John Walker joined the Piedmont team last fall as a Strategic Consultant. John has extensive experience in the quartz and feldspar markets having worked with Imerys for more than twenty years and spending another eight years with The Quartz Corp as CEO. John has provided invaluable input on market dynamics, desired product quality and other customer criteria, allowing Piedmont to develop a robust business model for marketing these materials.

Keith D. Phillips, President and Chief Executive Officer, commented: “Piedmont continues to find increased value in our industrial mineral products quartz, feldspar, and mica. Our location in close proximity to potential customers helps advance our goal of becoming one of the world’s most sustainable lithium manufacturing businesses. Placing more of our valuable resources into the market creates circular economy opportunities through waste reduction while providing substantial credits towards our cost of lithium hydroxide production. Our upcoming technical studies are expected to demonstrate both the environmental and economic benefits that our team is creating through their ongoing efforts to make beneficial use of every part of our ore body.”

Click here to view the complete announcement.

Keith Phillips
President & CEO
T: +1 973 809 0505
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Brian Risinger
VP – Corporate Communications
T: +1 704 910 9688
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HOUSTON--(BUSINESS WIRE)--Orion Group Holdings, Inc. (NYSE: ORN) (“Orion” or the "Company") a leading specialty construction company, today announced the sale of its Tampa property located on West Tyson Avenue.

Under its previously announced efforts to monetize certain real estate assets, Orion has completed the sale of its Tampa property on West Tyson Avenue and has received net proceeds of approximately $22 million. The Company will record a gain on the sale.

“The sale of the Tampa property further strengthens our balance sheet and enhances our liquidity as we are currently investing in our new ERP system, along with rebuilding and upgrading one of our dredges,” said Mark Stauffer, Orion’s President and Chief Executive Officer. “As we have previously stated, we will continue to evaluate all potential options for capital allocation as we execute our strategic plan.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as 'believes', 'expects', 'may', 'will', 'could', 'should', 'seeks', 'approximately', 'intends', 'plans', 'estimates', or 'anticipates', or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company's fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company's plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
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www.oriongroupholdingsinc.com

Robert Tabb, Executive Vice President & CFO
(713) 852-6500
www.oriongroupholdingsinc.com

Hillary Yaffe to Lead Spire’s Corporate Communications and Investor Relations Strategy Worldwide

VIENNA, Va. & RESTON, Va.--(BUSINESS WIRE)--Today Spire Global, Inc. (“Spire” or the “Company”), a space-based Earth data analytics and solutions company, announced that it has appointed Hillary Yaffe as Head of Communications, effective June 1, 2021. Ms. Yaffe will report to Peter Platzer, Founder and Chief Executive Officer of Spire, and will be based in New York.

In her new role, Ms. Yaffe will oversee Spire’s corporate communications and investor relations engagement worldwide as well as Spire’s communications strategy across the Company’s key business units, including Maritime, Weather, Aviation, Space Services, Federal, and Earth Intelligence. She will additionally guide Spire’s engagement with the investor community as the Company works to complete its previously announced merger with NavSight Holdings, Inc. (NYSE: NSH) to become a publicly traded company.

“We are thrilled to welcome a communications industry veteran of Hillary’s caliber to the Spire team at this watershed moment for our company,” said Mr. Platzer. “Hillary’s communications expertise across multiple industries, and specifically the capital markets, will prove invaluable as we look to convey Spire’s business plan, strategic growth initiatives, and corporate values to all stakeholders, including investors, customers and the media.”

Ms. Yaffe most recently served as Senior Vice President and Head of Communications for Lazard Asset Management LLC (“Lazard”) in the United States, where she was responsible for both internal and external communications activity. Prior to joining Lazard, Ms. Yaffe served as an Associate Vice President at Prosek Partners, where she helped build out the firm’s hedge fund practice and advised large institutional investment firms. Ms. Yaffe began her career at Edelman and subsequently worked at Burson-Marsteller in their corporate/financial practice before joining Prosek Partners. Ms. Yaffe holds a BBA in International Business and Marketing from The George Washington University.

About Spire Global, Inc.

Spire is a global provider of space-based data and analytics that offers unique datasets and powerful insights about Earth from the ultimate vantage point so organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world’s largest multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world’s toughest problems with insights from space. Spire has offices in San Francisco, CA, Boulder, CO, Washington DC, Glasgow, Luxembourg, and Singapore. On March 1, 2021 Spire announced plans to go public through an anticipated business combination with NavSight Holdings, Inc. (NYSE: NSH), to be traded on the NYSE under the ticker symbol “SPIR.” To learn more, visit spire.com.

About NavSight Holdings, Inc.

NavSight Holdings, Inc. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. NavSight was organized with the opportunity to pursue a business combination target in any business or industry, with the intent to focus its search on identifying a prospective target business that provides expertise and technology to U.S. government customers in support of their national security, intelligence and defense missions.

Additional Information and Where to Find It

In connection with the planned business combination with Spire (the “Proposed Transaction”), NavSight has filed a Form S-4 Registration Statement (the “Registration Statement”) with the SEC, which includes a preliminary proxy statement to be distributed to holders of NavSight’s common stock in connection with NavSight’s solicitation of proxies for the vote by NavSight’s stockholders with respect to the Proposed Transaction and other matters as described in the Registration Statement, a prospectus relating to the offer of the securities to be issued to the Company’s stockholders in connection with the Proposed Transaction, and an information statement to Company’s stockholders regarding the Proposed Transaction. After the Registration Statement is declared effective, NavSight will mail a definitive proxy statement/prospectus, when available, to its stockholders. Investors and security holders and other interested parties are urged to read the proxy statement/prospectus, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about NavSight, the Company and the Proposed Transaction. Investors and security holders may obtain free copies of the preliminary proxy statement/prospectus and definitive proxy statement/prospectus (when available) and other documents filed with the SEC by NavSight through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: NavSight Holdings, Inc., 12020 Sunrise Valley Drive, Suite 100, Reston, VA 20191.

Participants in Solicitation

NavSight and the Company and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the Proposed Transaction. Information about the directors and executive officers of NavSight is set forth in its Form 10-K/A and Form 10-Q filed on May 12, 2021 and May 24, 2021, respectively. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is included in the Registration Statement and other relevant materials filed with the SEC regarding the Proposed Transaction. Stockholders, potential investors and other interested persons should read the Registration Statement carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.

No Offer or Solicitation

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of the federal securities laws with respect to the Proposed Transaction. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding expectations of corporate communications strategy and investor relations engagement across Spire and the applicability of such strategies and engagement to Spire’s market, expectations of accelerating Spire’s sales and marketing efforts, expectations of product development and the applicability of such products to Spire’s market, the strengthening of Spire’s competitive advantage, the importance of Spire’s products and capabilities to its target markets, the expansion of Spire’s business to new regions and markets, Spire’s future growth, estimates and forecasts of financial and performance metrics, expectations of achieving and maintaining profitability, projections of total addressable markets, market opportunity and market share, net proceeds from the Proposed Transactions, potential benefits of the Proposed Transaction and the potential success of the Company’s market and growth strategies, and expectations related to the terms and timing of the Proposed Transaction. These statements are based on various assumptions and on the current expectations of NavSight’s and the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of NavSight and the Company. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the risk that the Proposed Transaction may not be completed in a timely manner or at all, which may adversely affect the price of NavSight's securities; (ii) the risk that the Proposed Transaction may not be completed by NavSight's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by NavSight; (iii) the failure to satisfy the conditions to the consummation of the Proposed Transaction, including the approval of the Proposed Transaction by the stockholders of NavSight, the satisfaction of the minimum trust account amount following any redemptions by NavSight's public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the inability to complete the PIPE investment in connection with the Proposed Transaction; (v) the failure to realize the anticipated benefits of the Proposed Transaction; (vi) the effect of the announcement or pendency of the Proposed Transaction on Spire’s business relationships, performance, and business generally; (vii) risks that the Proposed Transaction disrupts current plans of Spire and potential difficulties in Spire employee retention as a result of the Proposed Transaction; (viii) the outcome of any legal proceedings that may be instituted against NavSight or Spire related to the business combination agreement or the Proposed Transaction; (ix) the ability to maintain the listing of NavSight’s securities on the New York Stock Exchange; (x) the ability to address the market opportunity for Space-as-a-Service; (xi) the risk that the Proposed Transaction may not generate expected net proceeds to the combined company; (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the Proposed Transaction, and identify and realize additional opportunities; (xiii) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; (xiv) the risk of downturns, new entrants and a changing regulatory landscape in the highly competitive space data analytics industry; and those factors discussed in NavSight’s Form S-4 filed on May 14, 2021 under the heading “Risk Factors,” and other documents of NavSight filed, or to be filed, with the SEC. If any of these risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither NavSight nor the Company presently know or that NavSight and the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect NavSight’s and the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. NavSight and the Company anticipate that subsequent events and developments will cause NavSight’s and the Company’s assessments to change. However, while NavSight and the Company may elect to update these forward-looking statements at some point in the future, NavSight and the Company specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing NavSight’s and the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

For Spire Global, Inc.:
Investor Contact:
Michael Bowen and Ryan Gardella
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Media Contact:
Phil Denning
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For NavSight Holdings, Inc.:
Investor Contact:
Jack Pearlstein
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ROCKVILLE, Md.--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today announced financial results for its first quarter ended April 30, 2021. For additional information, please read the Company’s Quarterly Report on Form 10-Q, which the Company intends to file today with the U.S. Securities and Exchange Commission (the “SEC”). The Quarterly Report can be retrieved from the SEC’s website at www.sec.gov or from the Company’s website at www.arganinc.com.

Summary Information (dollars in thousands, except per share data)

“We are continuing the momentum from Fiscal 2021 into the first quarter of Fiscal 2022 with our third consecutive quarter of earnings per share equal to or in excess of $0.60,” Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, said. “All of our business segments continue to rebound from the beginning of the COVID-19 pandemic and produce increasing revenues and profit quarter over quarter. In addition, we were pleased to announce in May the award and start of an EPC services contract to build one of the largest solar power plants in Pennsylvania, which complements our core gas-fired power plant business, where we are executing on the Guernsey Power Station, which is the largest single-phase gas-fired power plant construction project in the US.”

Consolidated revenues for the quarter ended April 30, 2021 were $126.3 million, which represented an increase of $66.2 million, or 110.1%, from consolidated revenues of $60.1 million reported for the three months ended April 30, 2020. The increase was primarily due to increasing revenues at Gemma Power Systems (“GPS”) associated with the construction of the Guernsey Power Station. Additionally, the industrial services business segment reported revenues of $26.7 million for the three months ended April 30, 2021, which represented an increase of $16.9 million, or 173.6%, from revenues of $9.7 million reported for the three months ended April 30, 2020.

Consolidated gross profit for the three-month period ended April 30, 2021 was $23.7 million, or 18.8% of the corresponding consolidated revenues, which reflected primarily the favorable impacts of the higher amount of consolidated revenues and positive contributions from all three reportable business segments. For the three-month period ended April 30, 2020, the consolidated gross profit was $4.0 million, which represented approximately 6.7% of the corresponding amount of consolidated revenues and reflected $2.7 million of subcontract loss incurred by Atlantic Projects Company (“APC”) related to the TeesREP project, for which APC has recently completed activities.

Selling, general and administrative expenses for the three months ended April 30, 2021 and 2020 were $9.9 million, or 7.8% of corresponding consolidated revenues, and $10.3 million, or 17.2% of corresponding consolidated revenues, respectively.

Due primarily to the consolidated pre-tax book income reported for the three-month period ended April 30, 2021 in the amount of $14.5 million, we reported income tax expense in the amount of $3.8 million for the period. For the three months ended April 30, 2020, we recorded an income tax benefit of $4.5 million which amount included primarily $4.2 million of carryback benefit related to the net operating loss incurred by us for the year ended January 31, 2020.

For the three months ended April 30, 2021, our improved overall operating performance resulted in net income attributable to our stockholders in the amount of $10.8 million, or $0.67 per diluted share. Last year, despite the favorable effect of the net operating loss carryback benefit, we reported a net loss attributable to our stockholders in the amount of $0.8 million, or $0.05 per dilutive share.

As of April 30, 2021, cash, cash equivalents and short-term investments totaled $467 million and net liquidity was $276 million; furthermore, the Company had no debt. The Company’s consolidated amount of RUPO was approximately $0.5 billion as of April 30, 2021.

In May 2021, we announced that GPS entered into an engineering, procurement and construction services contract with an affiliate of Competitive Power Ventures, Inc., to construct the 100 MW Maple Hill Solar facility in Pennsylvania. GPS also received Notice to Proceed with project activities immediately. The project will be added to the Company’s RUPO in the second quarter and completion is scheduled to occur during the second half of 2022.

About Argan, Inc.

Argan’s primary business is providing a full range of services to the power industry, including the renewable energy sector. Argan’s service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, operations management, maintenance, project development and consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated fabrication, construction and industrial plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings. The Company’s future financial performance is subject to risks and uncertainties including but not limited to the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities and the Company’s ability to successfully complete the projects that it obtains. The Company has several signed EPC contracts that have not started and may not start as forecasted due to market and other circumstances beyond its control. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the risk factors highlighted above and described regularly in the Company’s SEC filings.

Company:
Rainer Bosselmann
301.315.0027

Investor Relations:
David Watson
301.315.0027

DENVER--(BUSINESS WIRE)--#LNG--LNG produced in Rockies basins and exported from the North American West Coast to China, India, Japan, South Korea, and Taiwan would produce net life cycle emissions reductions of between 42%-55% if used to replace coal-fired energy generation, according to a new study released by Western States and Tribal Nations (WSTN) Natural Gas Initiative.

The study, entitled “Life Cycle Assessment of Greenhouse Gas Emissions from Liquefied Natural Gas Exports from North America’s West Coast for Coal-Displaced Electricity Generation in Asia,” accounts for the entire greenhouse gas emissions impact of Rockies-sourced gas by assessing every point of the LNG supply chain. That starts with production at the well head and ends with the emissions from natural gas transmission and distribution in China, India, South Korea, Japan and Taiwan.

Produced in partnership with the Utah School and Institutional Trust Lands Administration (SITLA), the study builds on earlier academic studies that examined the global greenhouse gas savings potential of LNG exports. This new study is authored by Adebola S. Kasumu, Ph.D, P.Eng., who was the lead author of a previous similar emissions study while at the University of Calgary, and Kerry Kelly, Ph.D, and Lauren P. Birgenheier, Ph.D, of the University of Utah.

Other key findings from the report include:

• Net life cycle reductions of 42%-55% would remain intact even if LNG exports to the five nations were doubled, while reducing the overall amount of coal generation displacement and the accompanying coal emissions.
• Country-level data to show where LNG exports that displace coal generation would have the highest impact, which arms policymakers and corporate decision-makers to make export choices from both the diplomatic and commercial perspectives. For example, on a life cycle basis, South Korea and Japan could reduce their emissions by 54.8% and 52.1% respectively.
• China and India, as the largest emitters with substantial coal generation footprints, the absolute coal emissions reductions are smaller based on the same export levels. However, both share the potential for a substantial life cycle emissions decreases – 42.0% for China and 49.8% for India.

“WSTN is excited to announce that there is now definitive scientific evidence that exporting Rocky Mountain natural gas can significantly reduce global greenhouse emissions,” said Jason Sandel, Chairman of the Board of WSTN. “To me, it is a no-brainer that LNG exports should be encouraged and fast-tracked with broad community and political support. LNG exports are right for the U.S.A. and right for the globe. This study demonstrates that the U.S. can literally export tangible emissions reductions that will benefit the global environment by exporting responsibly produced LNG.”

“If we can facilitate global export of our gas through LNG facilities on the West Coast, we will be able to foster economic development in our tribal and rural communities, promote tribal self-determination, and improve the environment by eliminating natural gas flaring and making cleaner fuels available to Asian energy markets,” said Luke Duncan, chairman of the Ute Indian Tribe Business Committee.

“SITLA is encouraged by the emission reduction results quantified in the study and hopes it will help guide domestic federal and state policies aimed at helping to achieve lower global greenhouse emissions with Rockies natural gas, while spurring economic activity and additional revenue for Utah's public schools,” SITLA Director Dave Ure said.

“This study provides the building blocks needed to develop a pathway that elevates Rockies gas into the global Environmental, Social and Governance (ESG) gold standard for LNG,” WSTN President Andrew Browning said. “Our goal was to create a rigorous technical baseline on which policymakers and corporate decision-makers can make forward-thinking geopolitical and commercial decisions that help chart a course toward greater American economic strength and environmental leadership at home and across the world.”

“We sponsored this report to establish concrete data on the environmental and economic value that LNG exports to Asia from the western U.S. can deliver, along with real economic activity and job creation in the rural west and tribal nations,” Frank Hawk, vice president, Southwest Regional Council of Carpenters, said. “Exporting LNG will require new domestic infrastructure that can meet our current and future needs, and create real, concrete jobs now and for the next generation of workers. No country produces energy in a cleaner way than America, and it’s time our policies reflect this while leveraging our natural resources to benefit Americans and the global environment simultaneously.”

The study was made possible through the financial contributions of the following sponsors: The Ute Indian Tribe; The United Brotherhood of Carpenters; LiUNA/Colorado Laborers; Duchesne County, UT; Uintah County, UT; Utah Governor’s Office of Energy Development; Four Corners Innovation; Four Corners Economic Development; and Wyoming Energy Authority.

To view a Summary of Findings, please click here. The full study is available here.

About Western States and Tribal Nations

Western States and Tribal Nations is a unique, trans-national initiative led by, state, county and sovereign tribal nation governments focused on creating rural economic development, advancing tribal self-determination and reducing global emissions by exporting western North American natural gas to international markets that need lower-emitting fuel.

Bryson Hull
P: 202-657-2855
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