SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Faction Technology, Inc. - Faction is excited to announce the completion of $4.3M in seed funding led by Trucks Venture Capital and Fifty Years. The round follows an investment from Y Combinator and participation in their Winter 2021 startup batch.

Faction is aiming at both micro-logistics and ride-on-demand with a right-sized approach to driverless fleets. The company has engineered unique electric three-wheel vehicles that are developed at a fraction of the cost of a typical automobile.

“Deploying safety-forward driverless vehicles at scale requires developing from the chassis up,” said Faction CEO, Ain McKendrick. “Using legacy automobiles for driverless operations is great for development and research projects, but we feel smaller vehicles are the key to alleviating the ever-growing problem of urban gridlock. Faction combines autonomy with remote human teleoperation, which doesn’t require us to wait for 100% autonomous technology. To us, autonomy is an optimization, driverless is a product.”

Seth Bannon, Founding Partner at Fifty Years, said, "By building from the ground up with driverless in mind instead of retrofitting existing vehicles, Faction is set to radically improve urban and suburban transportation, cut down on emissions, and create massive economic value in the process."

With the ability to move cargo or allow for a rider, Faction vehicles are targeted for urban use cases where trips usually fall into the range of 3-5 miles. Right-sizing vehicles for the majority of trips provides a significant boost in efficiency. A typical passenger car in the U.S. weighs 3,000 lbs and gets 30 MPG or 100 MPGe if electric. Given the size and weight, most of the energy is used to transport the car itself rather than the passengers or cargo. Faction’s three-wheeled electric vehicles will typically weigh around 1,000 lbs and target over 150 MPGe.

“Faction is taking a unique approach to both driverless technology and lightweight vehicle systems that can dramatically impact how we move goods and people,” said Jeffrey Schox, General Partner at Trucks Venture Capital. “Trucks is excited to support their vision for future transportation solutions.”

As a technology company, Faction is partnering with manufacturers of light electric vehicles to scale operational fleets and the company will be announcing the first customer trials later this year.

For more information visit www.factionmoto.com.

About Faction Technology, Inc.

Faction is a Silicon Valley startup that develops driverless solutions based on light electric vehicles. The company was founded in February 2020 with a goal of revolutionizing micro-logistics and vehicle-on-demand. The company believes the future of sustainable transportation is to develop driverless vehicles that are safe, cost-effective, and right-sized to serve a range of use cases for both business and passenger transportation needs. For more information visit www.factionmoto.com.

Safe Harbor / Forward-Looking Statements

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this press release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events.

Ain McKendrick, CEO
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650-254-6025

ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--$ARR.TO #Renewable--Altius Renewable Royalties Corp. (TSX: ARR) (“ARR” or the “Company”), is pleased to report that Tri Global Energy (“TGE”) has announced the sale of two renewable energy projects, namely the 200 MW Blackford Wind project and the 150 MW Blackford Solar project both in Indiana to Leeward Renewable Energy, a portfolio company of Canadian pension fund subsidiary OMERS Infrastructure.

The two sales result in creation of royalties (see website arr.energy for details) in favour of Great Bay Renewables LLC (“Great Bay”), which is jointly controlled by ARR and certain funds managed by affiliates of Apollo Global Management, Inc.

These sales represent the seventh and eighth project royalties to be created under Great Bay’s royalty-based funding support agreement with TGE. The eight royalties in aggregate represent approximately 2,045 MW of new renewable energy projects.

Frank Getman, CEO of Great Bay commented, “Tri Global continues to excel in bringing new renewable energy projects to market to help accelerate our transition to a clean energy future. We are delighted to be able to support Tri Global in accomplishing this important work.”

The announcement made by TGE today is as follows:

TRI GLOBAL ENERGY AND LEEWARD RENEWABLE ENERGY FINALIZE DEAL FOR INDIANA RENEWABLE ENERGY PROJECTS

DALLAS (June 2, 2021) - Tri Global Energy, a leading originator and developer of utility-scale renewable energy projects, has announced an agreement to sell two renewable energy projects – a wind and a solar project -- in Blackford County, Indiana to Leeward Renewable Energy, a premier owner/operator with a portfolio of approximately 2,000 MW of generating capacity from renewable sources.

Tri Global Energy’s Chairman and CEO, John Billingsley, notes that the two projects have the potential to materially add to the renewable energy infrastructure in the region. “Tri Global Energy continues to drive the energy transition with renewable projects like these in Blackford County. We look forward to working cooperatively with representatives of the county, our participating landowners and our partners to make this significant investment in the community.”

Both projects were originated by Tri Global Energy (TGE) in 2019. Blackford Wind will be capable of delivering up to 200 MW and Blackford Solar will be capable of up to 150 MW. The projects combined are expected to produce enough energy to power more than 80,000 homes.

TGE and Leeward Renewable Energy will work with the county, state, and federal authorities to secure the requisite permits and bring the two projects into construction, with operations projected to commence as early as 2023.

“Projects of this scope demand world-class expertise and resources, and that’s why we consider Leeward Renewable Energy an outstanding partner going forward,” Billingsley said.

This is the second deal between Tri Global Energy and Leeward Renewable Energy. The two companies announced a transaction involving two of Tri Global Energy’s original Indiana projects in White County (180 MW Hoosier Line Wind and 400 MW Honey Creek Solar) in April.

“The acquisition of these quality projects is a great complement to Leeward’s growing portfolio of high-quality wind and solar assets. Leeward is dedicated to responsible energy development, while also providing economic benefits and clean, affordable power to the local community,” said Andrew Flanagan, Chief Development Officer of Leeward. “Tri Global Energy is a great partner and we look forward to continuing our strong relationship in the future.”

Great Bay Renewables, a joint venture company between certain funds managed by affiliates of Apollo Global Management, Inc. and Altius Renewable Royalties Corp. (TSX: ARR), is providing royalty financing in support of Tri Global Energy completing and funding this project development through the start of construction.

About Tri Global Energy

We are developers of sustainable energy. Tri Global Energy's mission is to improve communities through local economic development generated by originating and commercializing renewable energy and storage projects. The company currently originates and develops utility-scale wind, solar and energy storage projects in Texas, Nebraska, Illinois, Indiana, Pennsylvania and Virginia. Tri Global Energy's headquarters is in Dallas with regional development offices in Lubbock, Texas; El Paso and Forreston, Illinois; and Reynolds and Hartford City, Indiana. For more information, visit www.triglobalenergy.com.

About Leeward Renewable Energy, LLC

Leeward Renewable Energy is a leading renewable energy company that owns and operates a portfolio of 22 renewable energy facilities across nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S., with 17 gigawatts under development spanning over 100 projects. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$105 billion in net assets (as at December 31, 2020). For more information, visit www.leewardenergy.com.

About ARR

ARR is a recently formed renewable energy company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. The Company combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.

Flora Wood
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Tel: 1.877.576.2209
Direct: +1(416)346.9020

Ben Lewis
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Tel: 1.877.576.2209

BOSTON--(BUSINESS WIRE)--#Connectivity--Seaborn Networks (“Seaborn”), a leading developer-owner-operator of submarine fiber optic cable systems, announced today the appointment of Eric Brooks as Senior Vice President of Sales and Marketing, North America. Eric will lead Seaborn’s North America sales organization, channel and marketing strategies.

Eric comes to Seaborn from network solutions provider Zayo Group where he was Senior Vice President of Sales for seven years. In that role Eric managed global teams in multiple areas including sales, marketing, channel and engineering. Prior to Zayo, Eric was Sales Director at Level 3 Communications focused on the large enterprise market including media, content and gaming segments.

“I have known Eric over the last 10 years and am excited to add him in a critical role to our executive team,” said Steve Orlando, Seaborn’s CEO. “Eric’s strategic leadership, business acumen and market reputation will be an invaluable addition to Seaborn as we continue to grow our world class subsea networks and global IP peering relationships.”

About Seaborn

Seaborn is a leading developer-owner-operator of submarine fiber optic cable systems addressing global communications needs across the Americas, including Seabras-1 and AMX-1 between Brazil and the USA. Seabras-1 is the only direct POP to POP system between São Paulo and New York metro, offering the most direct, low latency route between the B3 exchange in São Paulo and the trading exchanges of New Jersey. Seaborn’s industry leading service delivery and performance combined with our IP and Ethernet service offerings broadens our solutions driven approach and commitment to always exceeding the service expectations of our customers. For more information, please visit www.seabornnetworks.com and follow us on LinkedIn.

Media Contact:
Naaz Bax, Head of Marketing
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• US$3 million annual Prize attracts 4,000 submissions
• Brazil, India, Kenya, USA and China among top countries
• Strong emphasis on food and health solutions highlights the urgency of building more resilient and robust ecosystems to further accelerate climate action

ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Following a six-month submissions phase amidst the prevailing restrictions imposed by the global COVID-19 pandemic, the Zayed Sustainability Prize, the UAE's pioneering global award in sustainability, has officially closed entries for its 2022 awards. With a remarkable 4,000 applications received, the Prize marked a notable 68.5% increase in submission entries compared to the previous cycle.

Attracting submissions from a record 151 countries, representing over three quarters of the world’s countries, the Prize proves to be truly global in its reach and impact. This includes a significant number of entries from innovative, knowledge-based economies, all hoping to have their world-changing solutions and technologies recognised and scaled amidst a rapidly evolving global landscape.

While the Prize postponed its 2021 Awards ceremony due to the global climate at the time, submitted entries in 2021 were automatically considered in the 2022 cycle, alongside the new applicants. The noteworthy increased appetite for applying is an indicator that climate action is top of mind for Small & Medium Enterprises, Non-profit Organisations and Global High Schools, who look to the Prize as a catalyst for innovation and subsequent human impact.

The submissions for the upcoming awards, to be held in January 2022, reflect the current global climate in the lead up to COP26 and in the wake of post-pandemic recovery, with Food (1,201) and Health (879) as the top categories to attract a high number of pioneering solutions, followed by Energy (759) and Water (627). With 534 submissions, the Global High Schools category is perhaps one of the most inspiring results as completing entries in the face of extensive disruption and school closures is a clear sign of the global youth’s commitment to a sustainable future.

H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Director General of the Prize, said: “Inspired by the legacy of the UAE’s founding father, the late Sheikh Zayed bin Sultan Al Nahyan, the Prize continues to demonstrate the UAE’s commitment to promoting sustainability and humanitarianism. We are proud and encouraged to have received so many applications despite the difficult conditions the world is facing, and we will move forward with purpose, as the Prize continues to fulfil its role in supporting innovators and forward-thinking organisations who seek to change our world for the better.”

“As the international community continues to unite around ambitious climate action in the lead up to COP26, the high level of participation registered this year further demonstrated that creative sustainable solutions could come from every part of the world, and importantly can deliver tangible economic benefits along with social progress.” he added.

The top positioning of Brazil, India, Kenya, USA and China emphasises the importance of the Prize as the leading global accolade for innovation, impact and inspiration in the field of sustainability in key global and emerging markets alike. Significantly this notable increase is a testament to the multi-faceted nature of the challenges and opportunities on the pathway to achieving a sustainable future.

The impressive number of submissions this year and their geographical diversity in terms of reaching both developed and emerging countries, including remote areas of the world such as Fiji and Kiribati, reflects the Prize’s pursuit of excellence in attracting pioneers who operate in the framework of a globally shared vision that streamlines an integrated approach to meeting United Nations Sustainable Development Goals (UN SDGs) and transforming the lives of millions of people.

Moreover, the Prize witnessed a notable increase in submissions this year from countries with a clear focus on sustainable innovations, as the Prize continues its drive to enable SMEs and non-profits, while encouraging and empowering youth to take on an active role in supporting their communities as future sustainability leaders. Key examples of this would be the substantial entries from South Africa, Rwanda, Japan, Indonesia, Denmark, Mexico and Colombia among others.

The strong representation of submissions in the Health category aligns with the ongoing global challenges posed by the pandemic. Of the solutions being presented, a high number is geared toward communicable diseases, including responding to and mitigating the effects of COVID-19, either through telehealth solutions, mobile clinics, or ICT platforms. Additionally, many solutions focused on new-born, child and maternal health, highlighting the cross-over of health with women empowerment and other central aspects of the sustainability agenda. In the Food category, which received the highest number of submissions, there is a firm representation of innovative solutions that support the agricultural value chain, while the high number of entries related to crop farming and food processing solutions also underline the ongoing transformation of food systems globally.

In the Energy category, a continued focus on energy accessibility and solar applications is well aligned with the consistent drop in solar technology costs globally. Energy efficiency and energy storage solutions are common themes, highlighting an increasing trend in the energy transition. Finally, for the Water category, a high number of solutions are geared towards extraction, filtration and wastewater purification technology, especially in relation to pandemics and natural disasters. A high number of submissions related to transmission and distribution may be in response to water scarcity and the water crisis the world is increasingly facing.

Another encouraging trend for the future of sustainability is the robust number of submissions from high schools, mirroring the ever-amplifying voice of youth for accelerating climate action and sustainable development in recent years. A large number of entries in the Global High Schools category proposed school garden projects to help feed the school and the most needy families in their communities, further attesting to the youth’s understanding of the intricacies and cross-sectoral nature of sustainability.

Furthermore, the record number of countries represented in 2021 submissions reflects the agile nature of the Prize, which, like most global award programmes, has had to adjust to a changing landscape, showcasing an alignment with the Decade of Action for global accelerated commitments towards achieving the UN SDGs. In line with that cross-sectoral mandate, the majority of solutions submitted focused on ecosystems’ resilience and affordability of solutions making a clear case for the economic benefits of sustainability innovation and climate action, while many of those solutions leverage next generation technologies focused on Artificial Intelligence (AI) and the Internet of Things (IoT) to drive impact.

Following the close of the submissions, the Prize now enters the evaluation stage. All entries will now be shortlisted by an independent research and analysis consultancy. A Selection Committee comprised of globally renowned industry experts will then assess the shortlisted entries and choose the finalists. The third and final tier of the evaluation process is the Jury, which will connect in October, to select the winners in each category.

Since its launch in 2008, the US$3 million annual Prize has, directly and indirectly, transformed the lives of over 352 million people across 150 countries. Its global impact continues to grow, as it further catalyses humanitarian outreach and sustainable development. Each category winner receives a prize fund of US$600,000. The Global High Schools category winners split the amount among six high schools from six world regions, each receiving up to US$100,000.

The winners of the 2022 awards will be announced at the Prize’s annual awards ceremony that will take place during Abu Dhabi Sustainability Week, in January 2022.

About Zayed Sustainability Prize

Established by the UAE leadership, in 2008, to honour the legacy of the founding father, the late Sheikh Zayed bin Sultan Al Nahyan, the Zayed Sustainability Prize is the UAE’s pioneering global award for recognising sustainability and humanitarian solutions around the world.

The Zayed Sustainability Prize acknowledges and rewards global pioneers and innovators who are committed to accelerating impactful sustainable solutions.

Over the past 12 years, the Prize has awarded 86 winners. Collectively, they have directly and indirectly, positively impacted the lives of over 352 million people around the world. The Zayed Sustainability Prize categories are: Health, Food, Energy, Water and Global High Schools.

For more information, please visit www.ZayedSustainabilityPrize.com or go to our social media platforms on, Twitter, Facebook, Instagram, YouTube.

*Source: AETOSWire

Hill+Knowlton Strategies
Medhat Juma, +971 561399482
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Erika Spagakou, +971 551398765
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Stakeholder support for pro-competitive combination between CN and KCS continues to grow

MONTREAL & KANSAS CITY, Mo.--(BUSINESS WIRE)--CN (TSX: CNR) (NYSE: CNI) and Kansas City Southern (“KCS”) (NYSE: KSU) today announced that the overwhelming stakeholder support for their proposed pro-competitive combination continues to grow with more than 400 additional letters of support filed with the Surface Transportation Board (“STB”) since the two companies agreed to combine, taking the total to over 1,400, including a letter of support from Governor John Bel Edwards of Louisiana.

The proposed combination between CN and KCS will create a transportation network across North America, enhancing competition, spurring economic growth and delivering benefits to the local communities in which both railroads operate. The combination, with the recent commitment to divesting the sole area of overlap and keeping gateways open for customers, creates a fully end-to-end merger and delivers significant public interest benefits for customers, ports, employees, communities and the environment. No customer will see any reduction in their existing routes. In fact, customers will now be able to access new markets that were not previously available to them via efficient single-line service. The transaction will also provide an enhanced platform for growth, capital investment, and job creation. Together, CN and KCS will be well positioned to deliver on the transaction’s many compelling benefits.

The benefits of the transaction are underscored by the more than 400 additional letters that have been filed with the STB since the two companies agreed to combine on May 21. The letters express support for a proposed CN-KCS combination, the use of a voting trust to complete the combination, or both. This brings the total number of support letters for a CN-KCS combination to well over 1,400. CN and KCS will continue to communicate and engage with their customers and other key stakeholders as they work towards gaining approval of their voting trust and completing their combination.

Last week’s letter was filed with the STB on May 24. A full copy of the most recent letter filed with the STB appears below:

Applicants Canadian National Railway Company (“CN”) and Kansas City Southern (“KCS”) respectfully submit the enclosed 300 letters from stakeholders relating to CN’s and KCS’s proposed combination. CN and KCS are encouraged by the enthusiastic response they have received from customers, rail suppliers, ports, state and local stakeholders, logistics providers, and other stakeholders about a CN-KCS combination. This outpouring of support has now resulted in well over 1,400 total letters of support for either the proposed CN-KCS combination, for the proposed voting trust, or for both.¹

283 of the letters being filed today support the proposed combination of KCS and CN. They include a support letter from John Bel Edwards, Governor of Louisiana, who expresses his belief that a KCS-CN “combination would serve Louisiana well by expanding the collective reach of both railroads and bringing new, sustainable transportation solutions to businesses in the southeastern part of the state as well as an East-West corridor across North Louisiana.” Many other letters come from KCS customers, excited by the extended reach of a combined CN-KCS network and the opportunities that this creates for them to reach new markets with competitive single-line service. Other support letters specifically praise CN’s and KCS’s vision of converting truck shipments to rail, and the benefits that a CN-KCS combination could have for north-south trade traffic. In short, stakeholders are energized about the public benefits that a CN-KCS combination could bring.

293 of the letters being filed today support CN’s and KCS’s request that the Board approve their proposed voting trust agreement.² Many letters note that the CN-KCS proposed voting trust is identical to that recently approved by the Board for Canadian Pacific, and ask the Board to similarly approve CN’s and KCS’s proposal.

CN and KCS will continue to engage with industry stakeholders about the proposed CN-KCS combination and the tremendous public interest benefits it will bring by creating the premier railway for the 21st century with a single network across Canada, the United States, and Mexico.

Respectfully submitted,

For more information about CN’s and KCS’ pro-competitive combination, 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.

¹ See Initial Submission of 409 Statements Supporting Proposed Transaction, CN-4, Canadian National Ry. Co.—Control—Kansas City So. et al., Fin. Docket No. 36514 (“CN-KCS”) (filed Apr. 26, 2021); Submission of Port and Terminal Operators’ Statements Supporting Proposed Transaction, CN-9, CN-KCS (filed Apr. 29, 2021); Submission of 200 Statements Supporting Proposed Transaction, CN-10, CN-KCS (filed Apr. 29, 2021); Submission of 100 Statements Supporting Proposed Transaction And/Or CN’s Voting Trust, CN-12, CN-KCS (filed May 4, 2021); Submission of 100 Statements Supporting Proposed Transaction And/Or CN’s Voting Trust, CN-13, CN-KCS (filed May 7, 2021); Submission of 183 Additional Statements Regarding Proposed Transaction And/Or CN’s Voting Trust, CN-14, CN-KCS (filed May 12, 2021); Submission of 100 Additional Statements Regarding Proposed Transaction And/Or CN’s Voting Trust, CN-17, CN-KCS (filed May 24, 2021).

² 276 of the enclosed letters express support for both the proposed combination and the voting trust.

Media: CN
Canada
Mathieu Gaudreault
CN Media Relations & Public Affairs
(514) 249-4735
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Longview Communications & Public Affairs
Martin Cej
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United States
Brunswick Group
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Media: KCS
C. Doniele Carlson
KCS Corporate Communications & Community Affairs
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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
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Investment Community: KCS
Ashley Thorne
Vice President
Investor Relations
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MacKenzie Partners, Inc.
Dan Burch / Laurie Connell
(212) 929-5748 / (212) 378-7071

DUBLIN--(BUSINESS WIRE)--The "Global Refinery Coking Units Outlook to 2025 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Coking Units" report has been added to ResearchAndMarkets.com's offering.

The global refinery coking units capacity increased from 8,965 mbd in 2015 to 9,692 mbd in 2020 at an Average Annual Growth Rate (AAGR) of 1.6 percent. It is expected to increase from 9,692 mbd in 2020 to 11,124 mbd in 2025 at an AAGR of 2.8 percent. The US, China, India, Canada, and Brazil are the major countries that accounted for 70.1 percent of the total coking unit capacity in 2020.

Scope

• Updated information on all active and upcoming (planned and announced) refinery coking units globally.
• Provides key details such as refinery name, operator name, refinery type, status for all active, suspended, planned, and announced refinery coking units in a country.
• Provides an annual breakdown of new-build and expansion capital expenditure outlook by region and by key countries for the period 2021-2025.

Reasons to Buy

• Obtain the most up to date information available on all active, suspended, planned, and announced refinery coking units globally
• Identify growth segments and opportunities in the refinery coking units industry
• Facilitate decision making on the basis of strong refinery coking units capacity data
• Assess your competitor's refinery coking units portfolio

Key Topics Covered:

1. Introduction

2. Global Refinery Coking Units, Snapshot

3. Africa Refinery Coking Units

4. Asia Refinery Coking Units

5. Caribbean Refinery Coking Units

6. Europe Refinery Coking Units

7. Former Soviet Union Refinery Coking Units

8. Middle East Refinery Coking Units

9. North America Refinery Coking Units

10. South America Refinery Coking Units

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Global nuclear power plants, manufacturers, and test labs can leverage IEEE EQ Navigator service for independent, seamless, and secure assessment of compliance to IEEE standards

PISCATAWAY, N.J.--(BUSINESS WIRE)--#IEEESA--IEEE, the world's largest technical professional organization dedicated to advancing technology for humanity, and IEEE Standards Association (IEEE SA) today announced the launch of IEEE Equipment Qualification (EQ) Navigator, a consolidated online portal for independent, consistent, and streamlined assessment of compliance to IEEE nuclear power standards. IEEE EQ Navigator is designed to deliver a common resource for nuclear manufacturers to attain product qualification and test laboratory accreditation. The online portal aims to mitigate uncertainty and risk in equipment production and procurement, cut costs for source verification and audits, and help avert fraudulent product issues.

IEEE EQ Navigator is intended to eliminate market confusion by standardizing test plans, methodology and report templates, making it easier to qualify and identify products that are compliant with IEEE nuclear power standards, such as IEC/IEEE 60780-323™, IEC/IEEE International Standard - Nuclear facilities -- Electrical equipment important to safety – Qualification, and IEEE 344™, IEEE Standard for Seismic Qualification of Equipment for Nuclear Power Generating Stations. IEEE EQ Navigator is designed to address technical and regulatory requirements across the nuclear industry’s rigorous qualification processes. It provides a registry of IEEE recognized accredited test labs and qualified products based on unique identifiers in order to support traceability.

“Qualification in the nuclear industry has been a very complex and labor-intensive process based on paper records,” said Jonathan Cornelius, Nuclear Product Manager with TE Connectivity and Co-Chair of IEEE NPEC Conformity Assessment Steering Committee. “IEEE EQ Navigator promises valuable benefits in cost savings, greater security, improved quality, and clarity of data end to end across the qualification process through its uniform, software-oriented approach. This better positions us to serve the global marketplace for the nuclear power industry.”

TE Connectivity, a manufacturer of qualified nuclear cable accessories, as well as connectivity and sensor solutions, and testing providers Kinectrics and NTS are implementing IEEE EQ Navigator in their qualification work for nuclear plants globally.

“Product manufacturers for nuclear power plants, the plants buying the equipment and the testing laboratories serving this industry have long sought a more seamless, secure and straightforward approach to qualification,” said Konstantinos Karachalios, managing director of IEEE SA. “IEEE is a leading provider of technical standards for the global nuclear power industry, and IEEE EQ Navigator now delivers a critically-needed tool for ensuring consistency in application of those standards in equipment for nuclear plants around the world.”

The user audience for IEEE EQ Navigator includes systems integrators/specifiers, utility and plant owners, equipment and component vendors, regulatory agencies and governments, plant designers and engineers EQ testing facilities, and insurers. Stakeholders are welcome to create a free account and learn more about subscribing now.

To learn more about IEEE SA or about any of its many market-driven initiatives, visit us on Facebook, follow us on Twitter, connect with us on LinkedIn or on the Beyond Standards Blog.

About the IEEE Standards Association

IEEE Standards Association (IEEE SA) is a collaborative organization where innovators raise the world's standards for technology. IEEE SA provides a globally open, consensus-building environment and platform that empowers people to work together in the development of leading-edge, market-relevant technology standards and industry solutions shaping a better, safer, and sustainable world. For more information, visit https://standards.ieee.org.

About IEEE

IEEE is the world’s largest technical professional organization dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, and professional and educational activities, IEEE is the trusted voice in a wide variety of areas ranging from aerospace systems, computers, and telecommunications to biomedical engineering, electric power, and consumer electronics. Learn more at http://www.ieee.org.

Media:
Tania Olabi-Colon, Director Marketing Communications
Olivia Wang, Associate Marketing Communications Manager
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DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) will hold its 2021 Annual Meeting of Shareholders on Friday, June 4, 2021 at 9:30 a.m. Central Time.

The Annual Meeting will be held at The Westin Galleria Dallas hotel, 13340 Dallas Parkway, Dallas, Texas 75240. Refreshments will be provided beginning at 8:30 a.m. Central Time to provide shareholders the opportunity to have a social time with directors, management and senior staff prior to the meeting.

The Annual Meeting will be webcast live. To access the live webcast, you can use the following link https://edge.media-server.com/mmc/p/m4bzpehv or visit the Events page located under the Investor Relations tab on Matador’s website at www.matadorresources.com.

About Matador Resources Company

Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.

For more information, visit Matador Resources Company at www.matadorresources.com.

Mac Schmitz
Capital Markets Coordinator
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(972) 371-5225

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

Fresh from the COVID-19 Experience, the World Will Step Up Environmental Governance & Building Energy Efficient Cities Will be the Starting Point. Solar Street Lighting to Reach US$ 14 Billion.

The growth will be led by the confluence of several favorable factors like the shift towards clean energy, government initiatives and massive adoption of these systems. Solar street lighting systems rely on solar photovoltaic panels for capturing and storing solar energy, and are widely considered for outdoor lighting.

Ambitious programs to promote sustainable development and curtail greenhouse gas emissions coupled with government subsidies and focus on clean power are stimulating the market growth. The pressing need to lower energy consumption and large-scale installation of solar street lighting systems by residential and commercial users are encouraging market growth.

The adoption of these systems is favored by declining costs of solar panels and batteries, stringent regulations and environmental concerns. In addition to targeting integration of renewable energy into the grid, various countries are betting on solar street lighting to serve remote areas that are difficult to be covered by traditional options. These systems are garnering significant attention owing to their extended service life, ecological operations, high energy efficiency and low emissions.

Emerging economies in Asia-Pacific and Africa are making serious efforts to tap solar energy and pushing solar networks. Increasing investment in advanced infrastructure such as highways and roads to accommodate rising vehicular traffic is expected to present lucrative opportunities to market participants.

Declining costs of solar lighting systems have made them an attractive alternative to conventional options that are known for heavy carbon footprint along with expensive operating and maintenance costs. In addition, lighting accounts for 19% of global energy and 25-30% of household energy consumption.

Standalone solar street lighting systems are predicted to register the fastest growth rate. Rather than using grid supply, these systems rely on batteries for storage of solar energy, and offer a cost-effective solution for solar street lighting. Standalone solar street lightning offers a suitable option for areas that are not served by power grid. These systems are capable of storing and collecting solar energy that is converted into electricity as per the requirement. These benefits establish standalone systems an appropriate solution to remote areas.

The segment is likely to gain from increasing adoption across off-grid locations and high cost of conventional street lighting infrastructure. Developing countries, including Bangladesh, Indonesia, Tanzania, India, Cambodia, Kenya, and Ethiopia, are increasingly investing in standalone systems.

Select Competitors (Total 69 Featured):

• Acuity Brands, Inc.
• Bajaj Electricals Ltd.
• Bridgelux, Inc.
• Cooper Lighting, LLC
• Dragons Breath Solar Ltd.
• Jiangsu SOKOYO Solar Lighting Co., Ltd.
• Signify Holding BV
• Solektra International
• Sunna Design SA
• Urja Global Ltd.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of Covid-19 and a Looming Global Recession
• COVID-19 Pandemic Chokes Supply from China
• With COVID-19 Pandemic Crushing the Sentiment in the World Construction Sector, Solar Street Lighting Market Set to Exhibit Substantial Decline in 2020
• A Prelude to Solar Street Lighting Market
• Global Solar Street Lighting Market to Move Ahead at Lightning Speed Post COVID-19
• LED Remains at the Forefront of Solar Street Lighting Revolution
• Residential Application Segment Leads the Smart Street Lighting Market
• Asia-Pacific Market for Solar Street Lighting to Witness Fastest Growth
• Europe and the US to Present Lucrative Growth Opportunities
• Market Players Gain from New Solar Street Lighting Contracts
• Emerging Trends Warranting Attention from Solar Street Lighting Vendors

2. FOCUS ON SELECT PLAYERS

• Recent Market Activity

3. MARKET TRENDS & DRIVERS

• Sustained Rise in Global Electricity Demand Creates Conducive Scenario for Wider Uptake of Solar Street Lighting
• Solar Street Lighting Market Stands to Gain from Growing Focus on Renewable Energy Sources amidst Rising Concerns over Fossil Fuel Usage
• Solar Energy Emerges as a Reliable Renewable
• Government Participation in Boosting Solar Energy Uptake Elevates Momentum in Solar Street Lighting Market
• Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
• Future Prospects Remain Favorable Amid Growing Population & Urbanization Drive
• Continued Rise in Vehicular Traffic to Drive the Demand for Smart Street Lighting
• Increasing Number of Smart Cities to Drive the Growth of Solar Street Lighting
• Appealing Benefits & Influx of New Solutions Enable Smart Solar Street Lighting to Post Impressive Gains
• Technological Advancements Crucial to Sustain Market Growth
• Technological Advancements in Solar LED Street Lights
• IoT Adoption Encourages the Spread of Smart Solar Street Light

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

• GEOGRAPHIC MARKET ANALYSIS
• UNITED STATES
• CANADA
• JAPAN
• CHINA
• EUROPE
• FRANCE
• GERMANY
• ITALY
• UNITED KINGDOM
• SPAIN
• RUSSIA
• REST OF EUROPE
• ASIA-PACIFIC
• AUSTRALIA
• INDIA
• SOUTH KOREA
• REST OF ASIA-PACIFIC
• LATIN AMERICA
• ARGENTINA
• BRAZIL
• MEXICO
• REST OF LATIN AMERICA
• MIDDLE EAST
• IRAN
• ISRAEL
• SAUDI ARABIA
• UNITED ARAB EMIRATES
• REST OF MIDDLE EAST
• AFRICA

IV. COMPETITION

• Total Companies Profiled: 119

For more information about this report visit https://www.researchandmarkets.com/r/k13cd4

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
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For GMT Office Hours Call +353-1-416-8900

Fourth Quarter Revenues of $31.7 Million Increased 10% Year Over Year

SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today reported financial results for its fiscal fourth quarter and full year ended March 31, 2021. During the fiscal first quarter 2021, the company completed the sale of its Agriculture and Weather Analytics segment to DTN, LLC. The results of the Agriculture and Weather Analytics segment are reported as discontinued operations for all periods presented in this release. During the fiscal third quarter 2021, the company completed its acquisition of substantially all of the assets of TrafficCast International, Inc. (TrafficCast).

Fiscal Fourth Quarter 2021 Financial Highlights

• Record total revenue of $31.7 million, up 10% year over year
• Record total ending backlog of $78 million, up 26% year over year
• GAAP net loss from continuing operations of $0.4 million, or $(0.01) per share, a $1.6 million, or $0.04 per share, improvement year over year
• Adjusted EBITDA of $1.8 million, a $0.8 million decrease year over year

Fiscal Full Year 2021 Financial Highlights

• Record total revenue of $117.1 million, up 9% year over year
• GAAP net income from continuing operations of $0.5 million, or $0.01 per share, a $2.2 million, or $0.05 per share, improvement year over year
• Adjusted EBITDA of $7.5 million, a $3.3 million, or 79%, increase year over year
• Acquisition of TrafficCast on December 7, 2020

Fiscal Full Year 2022 Outlook

• Total revenue of $132.0 million to $142.0 million, which would represent growth of 22% year over year at the high end of our guidance range
• Adjusted EBITDA of 7% to 8% of full fiscal year 2022 revenue, which would represent growth of 27% year over year at the high end of our guidance range

Management Commentary:

“Our record fourth quarter revenue is a nice capstone to a solid fiscal year ending March 31, 2021,” said Joe Bergera, president and CEO of Iteris. “Despite the challenges of COVID-19, our ClearMobility strategy demonstrated measurable operating leverage with 9% revenue growth translating to significant improvements in fiscal 2021 net income, adjusted EBITDA and cash flow from operations. Additionally, we made good progress delivering against our ClearMobility roadmap, and the successful acquisition and integration of TrafficCast accelerated the development of Iteris’ ClearMobility Cloud.

“Based on our product roadmap and record total ending backlog as we enter fiscal 2022, we expect to gain additional share of the smart mobility infrastructure management market, which remains vibrant due to the need for cities and states to upgrade aging infrastructure and the desire of various commercial entities for better insight into the infrastructure they depend upon. Therefore, in fiscal 2022, we anticipate an acceleration in year-over-year revenue growth with significant improvements in net income and adjusted EBITDA, even without any potential upside from a possible national infrastructure investment program.”

GAAP Fiscal Fourth Quarter 2021 Financial Results

Total revenue in the fourth quarter of fiscal 2021 increased 10% to $31.7 million, compared with $28.9 million in the same quarter a year ago. This revenue increase was driven primarily by a 19% increase in Roadway Sensors and a 3% increase in Transportation Systems.

Operating expenses in the fourth quarter increased 14% to $13.4 million, compared with $11.7 million in the same quarter a year ago. This increase was primarily due to expenses related to the amortization of intangible assets and other operating expenses as a result of the acquisition of TrafficCast, and an increase in research and development expenses.

Operating loss from continuing operations in the fourth quarter was approximately $0.4 million, which included approximately $0.1 million of acquisition-related expenses and $0.1 million of a fair value inventory adjustment related to the TrafficCast acquisition, compared with an operating income from continuing operations of approximately $1.0 million in the same quarter a year ago. Net loss from continuing operations in the fourth quarter was approximately $0.4 million, or $(0.01) per share, compared with a net income of approximately $1.1 million, or $0.03 per share, in the same quarter a year ago.

GAAP Fiscal Full Year 2021 Financial Results

Total revenue in fiscal 2021 increased 9% to $117.1 million, compared with $107.4 million in fiscal 2020. This revenue increase was driven primarily by a 15% increase in Roadway Sensors and a 4% increase in Transportation Systems.

Operating expenses in fiscal 2021 increased 1% to $46.4 million, compared with $45.7 million in fiscal 2020. This increase was primarily due to expenses related to the amortization of intangible assets and acquisition costs related to the TrafficCast acquisition, and an increase in research and development expenses.

Operating income from continuing operations in fiscal 2021 was approximately $0.4 million, compared with an operating loss from continuing operations of approximately $2.1 million in the previous year period. Net income from continuing operations in fiscal 2021 was approximately $0.5 million, or $0.01 per share, compared with a net loss of approximately $1.8 million, or $0.04 per share, in the previous year period.

Non-GAAP Fiscal Fourth Quarter and Full Year 2021 Financial Results

In addition to results presented in accordance with generally accepted accounting principles in the United States (“GAAP”), the company has included the following non-GAAP financial measure: Adjusted income (loss) from continuing operations before interest, taxes, depreciation, amortization, stock-based compensation expense, restructuring costs, executive severance and transition costs and opening inventory fair value adjustment (“Adjusted EBITDA”). A discussion of the company’s use of this non-GAAP financial measure is set forth below in the financial statements portion of this release under the heading “Non-GAAP Financial Measures and Reconciliation.”

Adjusted EBITDA in the fourth quarter of fiscal 2021 was approximately $1.8 million, or 5.5% of total revenues, compared with approximately $2.5 million, or 8.7% of total revenues, in the same quarter a year ago.

Adjusted EBITDA in fiscal 2021 was approximately $7.5 million, or 6.4% of total revenues, compared with approximately $4.2 million, or 3.9% of total revenues in fiscal 2020.

Earnings Conference Call

Iteris will conduct a conference call today to discuss its fiscal fourth quarter and full year 2021 results.

Date: Tuesday, June 1, 2021
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Toll-free dial-in number: +1 800-367-2403
International dial-in number: +1 334-777-6978
Conference ID: 1646227

To listen to the live or archived webcast of the earnings call or to view the press release, please visit the investor relations section of the Iteris website at www.iteris.com.

A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through June 8, 2021. To access the replay dial information, please click here.

About Iteris, Inc.

Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "feel(s)," "seeks," "estimates," "may," "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the Company’s anticipated demand and growth opportunities, conversion of bookings to revenue, the impact and success of new solution offerings, the Company’s recent acquisition, our future performance, growth and profitability, operating results, and financial condition and prospects. Such statements are subject to certain risks, uncertainties, and assumptions that are difficult to predict and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, federal, state and local government budgetary issues, spending and scheduling changes, funding constraints and delays, including in light of the COVID-19 pandemic; the timing and amount of government funds allocated to overall transportation infrastructure projects and the transportation industry; our ability to replace large contracts once they have been completed; the effectiveness of efficiency, cost, and expense reduction efforts; our ability to achieve anticipated benefits from our sale of our Agriculture and Weather Analytics segment; our ability to successfully complete and integrate acquired assets and companies; our ability to specify, develop, complete, introduce, market and gain broad acceptance of our new and existing product and service offerings; risks related to our ability to recruit and/or retain key talent; the potential unforeseen impact of product and service offerings from competitors, increased competition in certain market segments, and such competitors’ patent coverage and claims; any softness in the markets that we address; adverse effects of the COVID-19 pandemic on our vendors and our employees; and the impact of general economic and political conditions and specific conditions in the markets we address, and the possible disruption in government spending and commercial activities, such as the COVID-19 pandemic, import/export tariffs, terrorist activities or armed conflicts in the United States and internationally. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, as contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC's website (www.sec.gov).

ITERIS, INC.
UNAUDITED CONDENSED CONSOLIDATED
BALANCE SHEETS
(in thousands)

ITERIS, INC.
UNAUDITED CONDENSED CONSOLIDATED
STATEMENT OF OPERATIONS
(in thousands, except per share amounts)

ITERIS, INC.
UNAUDITED SEGMENT REPORTING DETAILS
(in thousands)

ITERIS, INC.
Non-GAAP Financial Measures and Reconciliation

In addition to results presented in accordance with GAAP, the company has included the following non-GAAP financial measure in this release: Adjusted income (loss) from continuing operations before interest, taxes, depreciation, amortization, stock-based compensation expense, and restructuring charges (“Adjusted EBITDA”).

When viewed with our financial results prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and accompanying reconciliations, we believe Adjusted EBITDA provides additional useful information to clarify and enhance the understanding of the factors and trends affecting our past performance and future prospects. We define these measures, explain how they are calculated and provide reconciliations of these measures to the most comparable GAAP measure in the table below. Adjusted EBITDA and the related financial ratios, as presented in this Annual Report on Form 10-K (“Form 10-K”), are supplemental measures of our performance that are not required by or presented in accordance with GAAP. They are not a measurement of our financial performance under GAAP and should not be considered as alternatives to net income or any other performance measures derived in accordance with GAAP, or as an alternative to net cash provided by operating activities as measures of our liquidity. The presentation of these measures should not be interpreted to mean that our future results will be unaffected by unusual or nonrecurring items.

We use Adjusted EBITDA non-GAAP operating performance measures internally as complementary financial measures to evaluate the performance and trends of our businesses. We present Adjusted EBITDA and the related financial ratios, as applicable, because we believe that measures such as these provide useful information with respect to our ability to meet our operating commitments.

Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations include:

• They do not reflect our cash expenditures, future requirements for capital expenditures or contractual commitments;
• They do not reflect changes in, or cash requirements for, our working capital needs;
• Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements;
• They are not adjusted for all non-cash income or expense items that are reflected in our statements of cash flows;
• They do not reflect the impact on earnings of charges resulting from matters unrelated to our ongoing operations; and
• Other companies in our industry may calculate Adjusted EBITDA differently than we do, whereby limiting its usefulness as comparative measures.

Because of these limitations, Adjusted EBITDA and the related financial ratios should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as a measure of cash that will be available to us to meet our obligations. You should compensate for these limitations by relying primarily on our GAAP results and using Adjusted EBITDA only as supplemental information. See our audited consolidated financial statements contained in this Form 10-K. However, in spite of the above limitations, we believe that Adjusted EBITDA is useful to an investor in evaluating our results of operations because these measures:

• Are widely used by investors to measure a company’s operating performance without regard to items excluded from the calculation of such terms, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired, among other factors;
• Help investors to evaluate and compare the results of our operations from period to period by removing the effect of our capital structure from our operating performance; and
• Are used by our management team for various other purposes in presentations to our Board of Directors as a basis for strategic planning and forecasting.

The following financial items have been added back to or subtracted from our net income (loss) when calculating Adjusted EBITDA:

• Interest expense. Iteris excludes interest expense because it does not believe this item is reflective of ongoing business and operating results. This amount may be useful to investors for determining current cash flow;
• Income tax. This amount may be useful to investors because it represents the taxes which may be payable for the period and the change in deferred taxes during the period, and may reduce cash flow available for use in our business;
• Depreciation expense. Iteris excludes depreciation expense primarily because it is a non-cash expense. These amounts may be useful to investors because it generally represents the wear and tear on our property and equipment used in our operations;
• Amortization. Iteris incurs amortization of intangible assets in connection with acquisitions. Iteris also incurs amortization related to capitalized software development costs. Iteris excludes these items because it does not believe that these expenses are reflective of ongoing operating results in the period incurred. These amounts may be useful to investors because it represents the estimated attrition of our acquired customer base and the diminishing value of product rights;
• Stock-based compensation. These expenses consist primarily of expenses from employee and director equity based compensation plans Iteris excludes stock-based compensation primarily because they are non-cash expenses and Iteris believes that it is useful to investors to understand the impact of stock-based compensation to its results of operations and current cash flow;
• Restructuring charges. These expenses consist primarily of employee separation expenses, facility termination costs, and other expenses associated with Company restructuring activities. Iteris excludes these expenses as it does not believe that these expenses are reflective of ongoing operating results in the period incurred. These amounts may be useful to our investors in evaluating our core operating performance;
• Acquisition costs. In connection with its business combinations, Iteris incurs professional service fees, changes to the fair value of contingent consideration, and other direct expenses. Iteris excludes such items as they are related to acquisitions and have no direct correlation to the operation of Iteris’ business. These amounts may be useful to our investors in evaluating our core operating performance..
• Executive severance and transition costs. Iteris excludes executive severance and transition costs because it does not believe that these expenses are reflective of ongoing operating results in the period incurred. These amounts may be useful to our inve

Iteris Contact
Douglas Groves ​​​​​​​
Senior Vice President and Chief Financial Officer
Tel: (949) 270-9643
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

LONG BEACH, Calif.--(BUSINESS WIRE)--UrbanX Renewables Group of Long Beach, CA, executed its front-end engineering design contract, an essential step for building the state’s first facility producing ultra-low carbon renewable diesel, a fuel essentially indistinguishable from the petroleum product it is replacing.

The company will produce renewable diesel from vegetable oil, fats and waste cooking oils through a proprietary process. Its fuel performs better than traditional diesel and can be used without engine or infrastructure modifications.

“This is the right fuel at the right time,” according to Bruce Melgar, UrbanX president. “Its benefits to the environment and its reduction of greenhouse gas emissions are important climate change advantages, as well as larger ecological gains,” he said. “For example, renewable diesel cuts lifecycle greenhouse gas emissions up to 85%.”

Additionally, renewable diesel lowers tailpipe emissions such as particulate matter, carbon monoxide, total hydrocarbons, and nitrogen oxide.

UrbanX has a long history in sustainable technology, from harvesting of greases from wastewater streams to the production of biofuels.

The facility will be in the Bakersfield area and will refine 5,300 barrels per day, generating over 75 million gallons per year of renewable diesel. But it can also yield a prime sustainable aviation fuel (SAF).

Melgar said that today’s stiff environmental challenges require exceptional responses, such as the high-quality transportation fuel UrbanX will produce from integrated waste-based feedstock.

“It has taken a breakthrough technology and a seasoned team to get to this point,” he added, citing Chevron Lummus Global’s patented Isoconversion process which produces the cleaner fuel from waste feedstock, in a joint development with Applied Research Associates. UrbanX holds a license for the innovative technology.

UrbanX’s distinctive methodology first produces a renewable crude and then refines it into renewable diesel, standing apart from other renewable fuel products.

Melgar refers to Dr. Addison Stark, the company’s chief technical officer and vice president of research and development, who maintains the patented process used mimics mother nature. “Instead of requiring millions of years to form the crude, we do it in about four hours,” he said. Petroleum is accepted to be the transformed remains of long dead organisms created over time with heat and pressure.

Further, continued Melgar, “Our process is feedstock flexible and can even refine clean fuel from bottom of the barrel materials.”

Also partnering with UrbanX is Total-Western, Paramount, a long-standing industrial contractor who will assist with the construction of the manufacturing plant.

Joining the project is Hyundai Engineering Co., Ltd., making its first entry into the U.S. plant market with its Front-End Engineering Design contract.

Another key player is IQA Solutions of Long Beach, especially skilled in the refining and petrochemical fields, to provide engineering and design services.

Local employment and economic benefits from supply-side activities for Kern County will also occur, Melgar noted, pointing to the available skilled workforce in the area, a major reason why UrbanX selected the area for its facility.

The company will soon disclose the exact plant location.

Tracy Leach, 661.703.5639

NEW YORK--(BUSINESS WIRE)--#dividend--The Board of Directors of Hess Corporation (NYSE: HES) today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on June 30, 2021 to holders of record at the close of business on June 15, 2021.

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

For Hess Corporation

Investor Contact:
Jay Wilson
(212) 536-8940

Media Contact:
Lorrie Hecker
(212) 536-8250
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DUBLIN--(BUSINESS WIRE)--The "Anthracene oil (CAS 90640-80-5) Global Market Research Report 2021" report has been added to ResearchAndMarkets.com's offering.

This global report is a result of industry experts' diligent work on researching the world market of Anthracene oil. The report helps to build up a clear view of the market trends and development, identify major players in the industry, and estimate main downstream sectors.

The Anthracene oil global market report key points:

• Anthracene oil description, applications and related patterns
• Anthracene oil market situation
• Anthracene oil manufacturers and distributors
• Anthracene oil prices
• Anthracene oil end-users
• Anthracene oil downstream industries trends

The first chapter introduces the product (composition, structure, hazards, storage, toxicological & ecological information, etc.). The second chapter focuses on Anthracene oil end-uses. The third chapter summarizes data about manufacturing methods. The fourth chapter is about the related patents. The fifth chapter deals with Anthracene oil market trends and forecast, distinguish Anthracene oil manufacturers and suppliers. The sixth chapter provides Anthracene oil prices data. The seventh chapter analyses Anthracene oil downstream markets.

Key Topics Covered:

1. ANTHRACENE OIL GENERAL INFORMATION

1.1. General information, synonyms

1.2. Composition, chemical structure

1.3. Safety information

1.4. Hazards identification

1.5. Handling and storage

1.6. Toxicological & ecological information

1.7. Transport information

2. ANTHRACENE OIL APPLICATIONS

3. ANTHRACENE OIL MANUFACTURING METHODS

4. ANTHRACENE OIL PATENTS

5. ANTHRACENE OIL MARKET WORLDWIDE

5.1. Global Anthracene oil market analysis: market constraints, drivers and opportunities

5.2. Manufacturers of Anthracene oil

• - Europe
• - Asia
• - North America
• - Etc.

5.3. Suppliers of Anthracene oil

• - Europe
• - Asia
• - North America
• - Etc.

5.4. Market forecast

6. ANTHRACENE OIL MARKET PRICES

• Europe
• Asia
• North America

7. ANTHRACENE OIL END-USE SECTOR

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Allison Transmission FracTran™ will drive productivity and deliver sustainability for fracturing fleets

INDIANAPOLIS--(BUSINESS WIRE)--Allison Transmission, a leading designer and manufacturer of conventional and electrified propulsion solutions and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, today announced the launch of the Allison FracTran, a revolutionary hydraulic fracturing transmission.

Purpose built based on the specific performance requirements of the customer, the FracTran is an all-new Oil Field Series^TM transmission, designed to meet the unique and continually evolving demands of the hydraulic fracturing industry. This next-generation solution is a result of extensive voice of customer insights as well as an analysis of duty cycle information from decades of Allison products operating in this application. This significant front-end effort ensures FracTran will provide differentiated value, meet the evolving needs of Allison’s customers, and deliver the Allison Brand Promise of providing the most reliable and valued propulsion solutions in the world.

“As hydraulic fracturing fleets and operators move toward higher horsepower, smaller spreads to reduce their environmental footprint, and seek shorter times to reach depth in search of improved sustainability, efficiency and profitability, Allison is innovating with them to remain a desired partner of choice for the energy market,” said John Coll, Senior Vice President of Global Marketing, Sales, and Service at Allison Transmission. “Allison is committed to our energy customers and has invested significant resources to bring them the product they demanded, FracTran.”

Based on current market demand, FracTran will be launched with a rating of 3,300 horsepower and 10,000 lb.-ft. of input torque. However, FracTran is capable of up to 3,500 horsepower with no hardware modifications required. This robust hydraulic fracturing transmission will deliver unparalleled performance in high pressure duty cycles in the harshest of operating environments. Key benefits and specifications of the FracTran include high reliability with a service life up to 25,000 hours, an overhaul that provides a second life without hard parts replacement resulting in low total cost of ownership, and eight ranges available with multiple gear ratio options to meet the unique performance demands of our customers. In addition, the FracTran offers filter and fluid life prognostics, a transmission-mounted control module, torsional measuring diagnostics, and an on-rig telematics gateway.

Allison’s commitment to quality and customer support extends beyond the purpose built FracTran hardware. FracTran will be backed by Allison’s Authorized Service Network of more than 1,400 Allison Authorized Dealers and Distributors. Each location is outfitted with specialized tools and equipment, and teams of trained and certified technicians that will ensure FracTran delivers optimized total cost of ownership by minimizing nonproductive time.

Allison hosted an event at its global headquarters in Indianapolis today to kick off its FracTran road show. Over the next several months, the company will visit dozens of cities in North America to showcase FracTran to our valued customers and industry partners, in preparation for start of production in 2023.

For more information on the Allison FracTran and to view footage from today’s event, please visit https://tinyurl.com/FracTranMediaEvent.

About Allison Transmission

Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.

Claire Gregory
Director, Global External Communications
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317-694-2065

DUBLIN--(BUSINESS WIRE)--The "Kuwait Diesel Genset Market (2021-2027): Market Forecast by KVA Rating, by Applications, by Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

Kuwait Diesel Genset Market size is projected to grow at a CAGR of 4.9% during 2021-2027.

Kuwait diesel genset market would witness modest growth over the coming years on account of rising demand for a continuous and reliable source of power, increasing power outages, thereby leading to the rising need for power backup solutions.

Additionally, the rising demand for electricity in Kuwait in line with the infrastructural growth in the country along with the projected growth in the construction market, upcoming new hotels and shopping malls such as Horeca Kuwait, Dusit Princess Mahboula, Al Khiran Hybrid Outlet Mall, Marina Mall on the back of increasing government spending on infrastructural development projects would drive the diesel genset market in the country over the forthcoming period.

The outburst of coronavirus has adversely impacted the country's diesel genset market in 2020 as the government imposed a nation-wide lockdown which has led to the closure of all construction operations and disrupted the demand and supply of diesel gensets, however, the market is expected to recover in 2021 due to opening of international borders and gradual restart of economic activities in the country.

Diesel gensets find its applications in various sectors such as industrial, commercial and residential, however, on account of the global coronavirus pandemic, the government decided to shut all the major operations in many sectors to curb the spread of the virus thereby restraining the diesel genset market growth during the first three quarters of 2020.

However, the upcoming construction projects such as Sabah Al Ahmad City Sector B, South Al Mutlaa City, Al Sabah Al Ahmad Future City, Jaber Al Ahmad City, Nuwaiseeb Independent Water and Power Project among many others require uninterrupted power supply which would bolster the demand for diesel gensets in the country over the coming period.

Based on applications, the industrial vertical emerged as the dominating segment, in revenue terms in 2020 on account of widespread usage of gensets in factories and manufacturing plants. Power generation and oil & gas industries are the major users of diesel generators in the industrial segment. As these processes are critical, they are generally backed by a secondary power source such as diesel gensets, to provide power in case of outages and to cater to additional load/power requirements.

Company Profiles

• Aggreko PLC.
• Atlas Copco Industrial Equipment Co.
• Caterpillar Inc.
• Cummins Middle East FZE.
• Himoinsa Middle East, FZE
• Kirloskar Oil Engines Limited
• Kohler Co.
• MHI Engine System Middle East FZE
• MTU Onsite Energy Corporation
• Yanmar Holdings Co., Ltd.

Key Highlights of the Report:

• Kuwait Diesel Genset Market Overview.
• Kuwait Diesel Genset Market Outlook.
• Kuwait Diesel Genset Market Forecast.
• Historical data and forecast of Kuwait Diesel Genset Market Revenues and Volume, for the Period, 2017-2027F.
• Historical data and Forecast of Revenues and Volume, By kVA Ratings, for the Period, 2017-2027F.
• Historical data and Forecast of Revenues and Volume, By Applications, for the Period, 2017-2027F.
• Historical data and Forecast of Revenues and Volume, By Regions, for the Period, 2017-2027F.
• Market Drivers and Restraints
• Kuwait Diesel Genset Market Trends
• Industry Life Cycle
• Porter's Five Forces Analysis
• Market Opportunity Assessment
• Kuwait Diesel Genset Market Share, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

By kVA Ratings

• Up to 75 kVA
• 1 - 375 kVA
• 1 - 750 kVA
• 1 - 1000 kVA
• Above 1000 kVA

By Applications

• Commercial (Hospitality, BFSI, IT & ITES, Construction, Offices)
• Industrial
• Residential
• Transportation & Infrastructure

By Regions

• Northern Region
• Southern Region

For more information about this report visit https://www.researchandmarkets.com/r/fz6bj

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE: HP) today announced that John Lindsay, President and Chief Executive Officer; Mark Smith, Senior Vice President and Chief Financial Officer; Dave Wilson, Vice President of Investor Relations; and other members of H&P management plan to participate in the following investor conferences during June 2021. Participation by the management team will vary by event.

• 2021 Virtual Wells Fargo Energy Conference on Thursday, June 3, 2021

• 2021 RBC Capital Markets Global Energy, Power & Infrastructure Conference on Tuesday, June 8, 2021

• The TPH Hotter ’N Hell Conference on Thursday, June 10, 2021

• The J.P. Morgan 2021 Energy, Power & Renewables Conference on both Tuesday and Wednesday, June 22-23, 2021

Investor slides to be used during the conferences will be available for download on the company’s website, within Investors, under Presentations, the afternoon of June 1, 2021.

About Helmerich & Payne, Inc.

Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.

Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com.

Dave Wilson, Vice President of Investor Relations
918-588-5190
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The donation will fund educational programming at a new center honoring the victims and survivors of the 1921 Tulsa Race Massacre

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced it is contributing $250,000 to Greenwood Rising, a new center in Tulsa’s historic Greenwood District that honors the victims and survivors of the Tulsa Race Massacre of 1921 and the legacy of the city’s Black Wall Street.

The center is being dedicated June 2, nearly 100 years to the day after one of the worst acts of racial violence in U.S. history left hundreds of Black residents dead and much of the Greenwood District, then a thriving neighborhood known as Black Wall Street, in ashes.

“Greenwood Rising will be a place where Tulsans and people from all over the world can come together to learn about the 1921 Tulsa Race Massacre, honor the victims and survivors, and celebrate the community’s rich heritage and resilience,” said Sonya Reed, Senior Vice President of Human Resources and Corporate Communications for Phillips 66. “Phillips 66 is proud to support this important effort.”

The Phillips 66 contribution will fund educational programming at Greenwood Rising, a nonprofit and legacy project of the 1921 Tulsa Race Massacre Centennial Commission that aims to draw upon lessons from the past to inspire meaningful and sustainable change. It will support field trips for local area public schools, volunteerism and the creation of educational material.

“It is important that we maintain the momentum of 1921 Tulsa Race Massacre education beyond the centennial year,” said Phil Armstrong, Project Director for the 1921 Tulsa Race Massacre Centennial Commission and Interim Director of Greenwood Rising. “We are grateful to Phillips 66, which is committing support to ensure that the tragedy of the massacre and resilience of Greenwood are never forgotten.”

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,200 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of March 31, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

Allison Stowe (media)
855-841-2368
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Winners to be featured in company’s first-ever “Protect Our Watersheds” wall calendar

MECHANICSBURG, Pa.--(BUSINESS WIRE)--Pennsylvania American Water today announced the winners of its 19^th Annual “Protect Our Watersheds” art contest, with a sixth-grade student from Allegheny County scoring top honors. The company received nearly 200 entries from fourth-, fifth- and sixth-graders across the Commonwealth.

Sixth grader Ishi Gupta of South Fayette Middle School earned the grand prize for her artwork, which will be featured on the cover of Pennsylvania American Water’s first-ever “Protect Our Watersheds” wall calendar. The calendars will be printed and distributed across the Commonwealth later this year.

“With increasing emphasis on environmental education in schools, we are seeing more students take an active role in watershed preservation and protection,” said Pennsylvania American Water President Mike Doran. “Activities like our art contest help to remind us that we all have a part in protecting our water sources.”

Gupta’s artwork earned first prize among western Pennsylvania entries, followed by Clare Johnson, a sixth-grade student from Thomas Jefferson Middle School (Allegheny County), in second place. Sixth grader Lizzie O’toole McKenna, also of Thomas Jefferson Middle School, finished third.

In eastern Pennsylvania, the first-place winner is Lia Limongelli, a sixth-grade student from Holy Rosary School (Luzerne County), with second place going to fourth-grader Veronica Griffith from Berks County, and fifth-grader Bianca Tolorico from St. Mary Mt. Carmel School (Lackawanna County) earning third place. The winning students will receive Barnes & Noble gift cards.

In addition, six runners-up have been selected and will also have their artwork featured in the calendar. They are Arjun Kairi, a fourth-grader at Mt. Lebanon Montessori School (Allegheny County), Sydney Ogoreuc, a sixth-grader at Thomas Jefferson Middle School (Allegheny County), Morgan Riddle, a sixth-grader from Southmoreland Middle School (Fayette County), Alice Hollenbach, a fifth-grader from Meadowbrook Christian School (Union County), Lillian Michael, a fourth-grader from Fairview Elementary (Luzerne County), and Eileen Wang, sixth-grader from Harrisburg Academy (Cumberland County).

Pennsylvania American Water’s contest requires that the students accompany their artwork with a short description of how watershed protection affects them personally.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.4 million people. With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 7,000 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to help make sure we keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.

Media:
Heather DuBose
Senior Specialist, External Affairs – Western PA
C: 412-335-9925
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NISKU, Alberta--(BUSINESS WIRE)--Staple Street Capital (“Staple Street Capital” or “SSC”), a leading middle-market private equity firm with approximately $800 million of capital under management, is pleased to announce the sale of Ironline Compression’s (“Ironline”) aftermarket services division (the “AMS Division”) to Surepoint Technologies Group (“Surepoint”). Staple Street Capital will continue to own Ironline’s compression rental business which acquires, sells, and leases a broad range of gas and air compressor packages across Canada’s Western Sedimentary Basin.

Tim Kelley, CEO of Ironline stated, “We want to thank the Staple Street Capital team for their partnership and support over the years. Staple Street Capital made significant investments in the business that have helped us achieve best-in-class standards for customer satisfaction and operational excellence. SSC’s long-term mindset and consensus-oriented approach has been integral to help us achieve this significant milestone. We are excited to work with SSC to further expand our compressor rental business going forward.”

The partners at Staple Street Capital, Hootan Yaghoobzadeh and Stephen Owens, added, “The partnership with the Ironline team is an exemplification of the value creation that occurs when an organization is aligned around a set of core values to deliver operational excellence and outstanding customer service. We are proud of the accomplishments of the entire Ironline team and want to thank them for their contributions. We are confident that the AMS Division and its employees will continue to flourish as part of the Surepoint family of companies and are excited to continue to build Ironline’s compression rental business as a standalone entity.”

About Staple Street Capital

Staple Street Capital, a leading private equity firm with approximately $800 million of capital under management, invests in market‐leading businesses where there are identifiable strategic or operational opportunities to create value. SSC helps companies navigate change, tackle challenges, and capitalize on new opportunities to build strong, more valuable businesses. Staple Street Capital typically seeks to invest $25 million - $125+ million of equity per transaction. For more information, please visit www.staplestreetcapital.com.

About Ironline Compression Services

Ironline Compression is a leading compression rental business consisting of the purchase, sale, and rental of gas and air compressor packages, and ancillary equipment. With one of the largest and best equipped fleets in Western Alberta, Ironline offers to a diversified set of oil and gas companies a differentiated set of contract compression and bare rental solution offerings.

About Surepoint Technologies Group Ltd.

Established in 2003, Surepoint Group is a premier industrial contractor specializing in electrical, instrumentation, telecom, compression and controls, modular buildings, and equipment fabrication. Working within many sectors and branches located in strategic areas, Surepoint Group provides clients with dependable, high quality, and responsive service.

Kevin Siedenburg
Head of Business Development
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W: 212-613-3125
C: 646-447-2901

TAOS, N.M.--(BUSINESS WIRE)--Kit Carson Electric Cooperative, Inc (KCEC) is installing nine additional electric vehicle (EV) charging stations in the Enchanted Circle to complement KCEC's regional beneficial electrification plan for a greener, cleaner future. KCEC commends the hard work by the municipalities, tribes, governments, and Enchanted Circle COAD members to aid the transition to EVs in Northern New Mexico. Not only will EV's reduce carbon emissions, but they will also provide a new opportunity for rural communities to invest in more carbon-efficient vehicles.

The KCEC Board of Trustees unanimously approved the nine additional EV chargers to KCEC's current EV infrastructure. The future of transportation is shifting toward a carbon-free environment that relies on EV vehicles, charging stations and new cars with an extended battery range. The addition of the new stations will create opportunities for locals, tourists and businesses to invest in EVs.

"We are creating a clean environment for our communities to preserve the natural beauty of Northern NM. Creating a carbon-free climate will raise the standard for a better quality of life for our younger generations. We are investing in their future,” says CEO, Luis A. Reyes

KCEC wants to thank the Town of Taos, EC-COAD members, Renewable Taos, Taos County, Village of Red River, Village of Eagle Nest, Village of Questa, Village of Angel Fire and other critical stakeholders for their cooperation on the EV project. The participation and buy-in from these entities’ plan to introduce EVs to their fleets helps to support a regional carbon reduction footprint.

In a joint effort, KCEC is engaging with local and state stakeholders to find the desire for electrification infrastructure opportunities in our communities. Through a series of meetings, KCEC and these organizations have created a working group to address issues regarding KCEC's Beneficial Electrification Plan.

Sol Luna, a local solar installer and KCEC partner, will utilize a local labor force to install the EV charging stations in KCEC's service territory. KCEC's overall Beneficial Electrification Plan will import and introduce new economic development opportunities to the region and fill the demand for long-range electric vehicle drivers.

Once the EV Project is completed, KCEC will have 19 EV charging stations with 28 charging points for the communities to use. In May of 2020, KCEC received a New Mexico Environment Department (NMED) grant award, for $200,119, as one of 43 projects throughout the state from the Volkswagen Settlement Fund. The grant is meant to initiate an EV charging station network in the state and the Enchanted Circle.

KCEC's great partnership with its wholesale energy provider, Guzman Energy, gives KCEC the flexibility to reduce its carbon footprint while adapting to the transition of renewable energy. Guzman Energy has been a partner of KCEC since 2016 and is helping KCEC meet its goal of providing 100% daytime solar energy by 2022 through the development and commissioning of several solar arrays throughout the region.

About Kit Carson Electric Cooperative

Formed in 1944, Kit Carson is a member owned electric distribution cooperative in northern New Mexico and is the second largest cooperative in the state. Kit Carson is one of 16 electric cooperatives that serve rural New Mexico communities, serving nearly 30,000 members in Taos, Colfax and Rio Arriba counties. To learn more about Kit Carson, visit www.kitcarson.com.

Jill Petersen
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