HOUSTON--(BUSINESS WIRE)--Nine Energy Service, Inc. (NYSE:NINE) announced today that it has scheduled its first quarter 2021 earnings conference call for Thursday, May 6, 2021 at 9:00 am Central Time. During the call, Nine will discuss its financial and operating results for the quarter ended March 31, 2021, which are expected to be released prior to the conference call.

Participants may join the live conference call by dialing U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028 and asking for the “Nine Energy Service Earnings Call”. Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the earnings call.

For those who cannot listen to the live call, a telephonic replay of the call will be available through May 20, 2021 and may be accessed by dialing U.S. (Toll Free): (877) 660-6853 or International: (201) 612-7415 and entering the passcode of 13718631.

About Nine Energy Service

Nine Energy Service is an oilfield services company that offers completion solutions within North America and abroad. The Company brings years of experience with a deep commitment to serving clients with smarter, customized solutions and world-class resources that drive efficiencies. Serving the global oil and gas industry, Nine continues to differentiate itself through superior service quality, wellsite execution and cutting-edge technology. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada.

For more information on the Company, please visit Nine’s website at nineenergyservice.com.

Nine Energy Service Investor Contact:
Heather Schmidt
Vice President, Strategic Development, Investor Relations and Marketing
(281) 730-5113
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Backed by Clearlake Capital, Unifrax’s new nano-structured alumina catalyst support technology offers a greener catalytic conversion option for ESG-focused vehicle manufacturers

BUFFALO, N.Y.--(BUSINESS WIRE)--Unifrax, the leading manufacturer of high-performance specialty materials, today introduced a new, nano-structured alumina catalyst support technology for the transportation market – Eco-lytic™ by Unifrax. Housed within a vehicle’s catalytic converter, the Eco-lytic catalyst support fiber is designed to replace the existing catalytic converter or add to existing systems in order to enhance emission reduction, consume fewer precious metals and raw materials, and drive lower energy usage through vehicle weight reduction. The solution is designed to help prolong a cleaner engine life and enable vehicle manufacturers to meet increasingly stringent environmental, social, and governance (ESG) standards and regulations, while providing considerable cost savings as the market transitions to electric vehicles (EVs).

Eco-lytic is currently in advanced testing with several global automakers. Preliminary results suggest the solution can reduce the mass of catalyst support media by up to 80 percent and lower platinum group metal loading by up to 40 percent compared to traditional systems. This results in increased efficiency due to faster light-off of catalytic performance. Unifrax will have commercial production capability on-line in late 2021.

“The transportation industry is going through an incredible transformation – vehicle manufacturers and regulators are focusing efforts on reducing greenhouse gas emissions and transitioning to electric or plug-in hybrid vehicles. This transition will not happen overnight, and the industry is in desperate need of nearer-term solutions to help bridge the sector’s transition to a greener footprint. Eco-lytic is that solution and the step change we need today,” said Chad Cannan, Senior Vice President of Research and Development, Unifrax. “Eco-lytic is poised to be a game changer for any conventional engine, large or small, mobile or stationary. Our product is designed to enhance emissions reductions, reduce the need for precious raw materials, extend cleaner engine lives and help drive a more sustainable carbon footprint through vehicle weight reduction.”

Eco-lytic’s flexible structure not only offers efficiency and cost savings benefits, it also provides transportation industry partners and manufacturers with unique packaging options. Unifrax has the ability to tailor the Eco-lytic product to meet the needs of individual partners through custom shapes and sizes to fit into locations where existing technologies cannot.

“Unifrax continues to pursue its mission to make the world a greener, cleaner, and safer place. We have been working to support the industry’s transition to EVs through a robust battery and technology solution portfolio that includes: our recently announced proprietary anode technology SiFab™, which drives significantly higher energy density in lithium ion batteries, our AGM separator materials, our large format lithium ion glass separators, our interstitial thermal runaway barriers, our battery compartment fire protection systems and now Eco-lytic,” said John Dandolph, President and CEO, Unifrax. “Eco-lytic provides an exciting bridge to reduce catalytic converter weights and costs, reduce the use of precious metals and raw materials, and minimize the environmental impact of conventional engines as the industry transitions to EVs. As such, Eco-lytic is a unique and proprietary solution which opens the door to a new age of emission control aligned with our mission at Unifrax.”

Building on Unifrax’s deep history of fiber-based technology and manufacturing, Eco-lytic is Unifrax’s first step into catalytic support. Unifrax, the inventor of specialty ceramic fibers, has a track record of 75+ years of developing and supplying engineered inorganic materials on a large scale to advanced industries worldwide, including electric vehicles, aerospace, and chemical processing.

Unifrax will be available during SAE’s WCX Digital Summit, April 13–15, 2021, to discuss the Eco-lytic technology with interested attendees. For more information on Eco-lytic, visit www.unifrax.com.

About Unifrax

Unifrax develops and manufactures high performance specialty materials used in advanced applications including high-temperature industrial insulation, electric vehicles, energy storage, filtration, and fire protection, among many others. Unifrax products are designed with the ultimate goal of saving energy, reducing pollution, and improving safety for people, buildings and equipment by delivering on our commitment to our customers of greener, cleaner, safer solutions for their application challenges. Unifrax has 37 manufacturing facilities operating in 12 countries and employs 2,700+ employees globally. More information is available at www.unifrax.com. For updates, follow us on Twitter, LinkedIn, and Facebook.

About Clearlake

Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.^® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has approximately $35 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

Media:

For Unifrax:
Deborah L. Myers
Global Marketing Communication Director
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716.812.4802

For Clearlake:
Jennifer Hurson
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845.507.0571

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Diamond S Shipping Inc. (NYSE: DSSI) to International Seaways, Inc. (NYSE: INSW). Under the terms of the proposed transaction, shareholders of Diamond will receive only 0.55375 shares of International Seaways for each share of Diamond that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (This email address is being protected from spambots. You need JavaScript enabled to view it.) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-dssi/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

Kahn Swick & Foti, LLC
Lewis S. Kahn, Managing Partner, 855-768-1857
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Leading clean energy company is electrifying its work truck fleet with XL Fleet plug-in hybrid and hybrid systems on its F-Series pickup trucks

Apex fleet electrification investment will support its commitment to reduce carbon emissions

Vehicles were acquired for Apex by XL Fleet’s Fleet Management Company (FMC) partner Enterprise Fleet Management

BOSTON--(BUSINESS WIRE)--XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leader in fleet electrification solutions, and Apex Clean Energy (“Apex”), a leading clean energy company that develops, constructs, and operates utility-scale wind and solar power facilities throughout North America, today announced that XL Fleet is electrifying Apex’s vehicle fleet as part of a comprehensive effort to reduce its carbon emissions.

Apex’s first investment in vehicle electrification, the order will provide 19 electrified Ford F-series pickup trucks, including ten plug-in hybrid electric and nine hybrid electric systems for pickups in its service fleet, for delivery in the second quarter of 2021. The strategic mix of hybrid and plug-in hybrid electric vehicles being deployed aligns with Apex’s current sustainability goals and operational requirements, while allowing it to consider expanding its electrification investments as it replaces more vehicles in the future.

XL Fleet’s electrification systems will enable Apex to equip its project teams with a diverse array of cleaner, more fuel-efficient vehicles as Apex installs renewable power generation equipment and facilities throughout North America. Apex is planning to deploy the plug-in hybrid vehicles to its operations employees, who will have access to charging infrastructure being installed at operational wind and solar facilities. The hybrid vehicles are expected to be used by Apex’s on-site construction team, who currently do not have regular access to charging infrastructure and will benefit from the regenerative braking provided by the XL Fleet hybrid system. In the past decade, Apex has commercialized $9 billion worth of wind and solar projects representing nearly 7 GW of clean energy opportunity.

“XL Fleet and Apex Clean Energy share a common goal of delivering sustainable products and services designed to protect our environment, and we are proud to become Apex’s electrified vehicle partner as they look to take immediate and significant steps toward reducing their carbon footprint,” said Brian Piern, VP of Sales and Marketing at XL Fleet.

“As a mission-driven company with sustainability at the heart of our work, Apex is driving the transition to a clean energy economy, and XL Fleet is an ideal partner to help us extend this core value to our transportation choices,” said Mark Goodwin, president and CEO of Apex Clean Energy. “XL Fleet gives us the ability to begin working toward our carbon reduction goals immediately by electrifying our vehicle fleet with proven solutions that make strong financial sense.”

This deployment of electrified pickups reflects XL Fleet’s broad lineup of plug-in hybrid and hybrid solutions for some of the fleet industry’s most popular light and medium duty work trucks, which also includes the Company’s newest plug-in and hybrid offerings for Chevrolet Silverado and GMC Sierra HD models.

The Ford F-series pickups being electrified for Apex were acquired by XL Fleet’s Fleet Management Company (FMC) partner Enterprise Fleet Management as part of this transaction. Enterprise is a leading full-service provider of fleet management capabilities, including vehicle acquisition, financing, maintenance and more. Enterprise takes a sustainable approach to its business practices and actively helps fleet customers manage their carbon footprint.

About XL Fleet Corp.

XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 150 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can increase fuel economy up to 25-50 percent and reduce carbon dioxide emissions up to 20-33 percent, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. XL Fleet’s plug-in hybrid electric drive system was named one of TIME magazine's best inventions of 2019. For additional information, please visit www.xlfleet.com.

About Apex Clean Energy

Apex Clean Energy develops, constructs, and operates utility-scale wind and solar power facilities across North America. Our mission-driven team of more than 250 renewable energy experts uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information on how Apex is leading the transition to a clean energy future, visit apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.

Forward Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to failure to realize the anticipated benefits from the business combination; the effects of pending and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones; the effects of competition on the Company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed on March 31, 2021 and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.

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• Combined company is a proven and profitable business today with estimated 2021 EBITDA of $65 million, which is expected to grow to $327 million in 2024.
• Expect to contract 60-70% of renewable natural gas volumes under 10-20 year, fixed-price arrangements with investment-grade buyers.
• At $10 per share, the combined Company’s enterprise value of $1.15 billion implies a valuation multiple of 8.2x estimated 2022 EBITDA and 3.5x estimated 2024 EBITDA.
• Rice Acquisition Corp.’s heavily oversubscribed and upsized PIPE obtained $300 million in commitments led by institutional investors including The Baupost Group, BNP Paribas Energy Transition Fund, CIBC, Goldman Sachs Asset Management LP^[1], and Wellington Management.

CARNEGIE, Pa.--(BUSINESS WIRE)--Rice Acquisition Corp. (NYSE: RICE) (“RAC”), a special purpose acquisition company focused on the energy transition sector, today announced an agreement to enter into a business combination with Aria Energy LLC (“Aria”) and Archaea Energy LLC (“Archaea LLC”), which will create the industry-leading renewable natural gas (“RNG”) platform. The combined Company will be named Archaea Energy (the “combined Company”), with an experienced executive team comprised of leaders from Archaea LLC and Aria. The transaction is expected to close in the third quarter of 2021 and the combined Company plans to be listed on the NYSE under the ticker symbol “LFG”.

RAC is led by former executives of Rice Energy, which merged with EQT (NYSE: EQT) to become the largest U.S. natural gas producer. Daniel Rice IV, CEO of RAC, led Rice Energy’s growth from a start-up to the eventual $10 billion sale to EQT in 2017².

“Early in our acquisition search we identified landfill gas (“LFG”) as the most predictable, cost-effective, and environmentally beneficial feedstock to help organizations achieve their carbon neutrality goals,” said RAC CEO Daniel Rice. “We became determined to create a leading RNG platform, and I believe bringing together Archaea LLC and Aria goes beyond that; I think we’ve created a new paradigm in RNG development. The combination of these companies’ respective skills and assets instantly creates a proven, technology-driven LFG developer that’s operating at scale today with a deep inventory of highly economic, low-risk growth projects to meet the ever-growing RNG demand. The combined Company’s industry-leading growth is supported with innovative, long-term fixed-price offtake agreements to ensure it achieves its economic goals, while also helping its customers achieve their long-term climate goals. This places Archaea on a short list of companies that can generate sustainable and compelling risk-adjusted returns while significantly reducing GHG emissions.”

Nicholas Stork, co-founder and CEO of Archaea LLC and CEO of the combined Company, added: “We are on a mission to transform the role of RNG in empowering organizations to decarbonize and achieve their sustainability goals. In Aria, we found an irreplicable asset base and a team who shares our vision to harness the power of RNG and help both landfill owners/operators and investment-grade buyers of RNG meet their sustainability targets. The new capital raised will accelerate the combined Company’s growth and solidify its leadership in the industry.”

Investment Highlights:

• The business combination is expected to create the industry-leading platform in the U.S. to capture and convert waste emissions from landfills and anaerobic digesters into low-carbon RNG, electricity, and green hydrogen.
• Aria, a portfolio company of funds managed by the Infrastructure and Power strategy of Ares Management Corp (NYSE: ARES) (“Ares”), is being acquired for $680 million and brings a comprehensive portfolio of operational LFG assets, best-in-class operating experience, and a deep inventory of greenfield LFG-to-RNG projects and electric-to-RNG conversion opportunities.
• Archaea LLC is being acquired for $347 million and brings leading RNG technology professionals, a deep inventory of LFG-to-RNG projects – including the world’s largest RNG plant currently under construction (“Project Assai”) – an innovative commercial strategy, groundbreaking low-cost carbon sequestration, and negative-carbon LFG-to-green hydrogen development projects currently in the design stage.
• Pro forma for the transaction, the combined Company will have over $350 million of cash on the balance sheet, providing ample liquidity to fund its pipeline of development projects and bridging the combined Company to free cash flow generation starting in 2023.
• The combined Company will be led by a majority-independent board consisting of executives Daniel J. Rice, IV, Kyle Derham, Kate Jackson, Joe Malchow, and Jim Torgerson of RAC; Nicholas Stork, CEO of Archaea; and Scott Parkes of Ares.

Additional Information on Acquisition Rationale and Process

Archaea Energy, the combined Company, is tackling one of the world’s most important climate problems. U.S. landfills are expected to grow from approx. 8 billion tons of waste in place in 2020 to 13 billion tons by 2050, which is expected to increase LFG emissions from 1.9 Bcf/d in 2020 to 2.8 Bcf/d by 2050. Capturing these emissions, comprised of ~50% methane and ~35% CO2, has the same environmental benefit as electrifying 75% of U.S. passenger vehicles.

LFG has a very predictable, 20-30 year production profile, and when coupled with continued growth in U.S. landfill waste for the next 20-30 years, creates 40-60 years of unparalleled LFG feedstock visibility. Compared to other renewable fuels, LFG-to-RNG developed by the combined Company is lower cost, more predictable, better for the environment, and more effective in reversing the impacts of climate change.

Aria Energy LLC is a market leader in the North American LFG sector, having developed or constructed more than 50 projects over the last 25 years. Aria is led by seasoned industry veterans including Richard DiGia, CEO, and has approximately 100 highly trained plant operators across the U.S., with a strong safety and environmental track record. Under Ares’ 13-years of ownership, Aria has grown through internal project development and the strategic consolidation of several of the largest and most experienced companies in the LFG-to-renewable energy space, including Landfill Energy Systems, Innovative Energy Systems, and Timberline Energy.

Andrew Pike, co-head of Ares’ Infrastructure and Power strategy, stated: “With the combination of Archaea LLC and Aria, RAC has created a scaled and growth-oriented premier platform that will be guided by a seasoned management team positioned for even greater success through continued decarbonization of the natural gas grid.”

Archaea Energy LLC was founded in 2018 by landfill owners and RNG technologists with the goal of building a cost-efficient solution for generating high-BTU RNG projects in the U.S. Archaea LLC’s development strategy and industry-leading gas separation expertise enables it to capture and convert LFG emissions with lower development costs. Its team helped design, build, or develop key gas processing systems for the majority of U.S. RNG facilities in operation today. Archaea LLC is actively tapping into a backlog of RNG demand via long-term fixed-price contracts, thereby reducing risks from RIN price volatility, a key differentiator of its commercial strategy compared to other RNG developers. Archaea LLC is also actively developing carbon sequestration projects and deploying on-site renewable power generation to further reduce the carbon intensity of its RNG to zero or negative. Archaea LLC believes it can develop green hydrogen from LFG and RNG at industry-leading costs by deploying proven technology.

Archaea LLC is currently majority-owned and controlled by Rice Investment Group, an affiliate of RAC. RAC created a Special Committee, comprised of the independent directors of RAC (the “Special Committee”), to negotiate the business combination of Aria, Archaea LLC, and RAC, including the purchase price for Aria and Archaea LLC. The Special Committee engaged Moelis & Company LLC as its independent financial advisor and Richards, Layton and Finger, PA as its independent legal counsel for the business combination. 100% of Rice Investment Group’s equity ownership will be rolled into the transaction, with no secondary proceeds, demonstrating confidence in the combined Company's long-term value proposition. The Rice family is also investing $20 million in the PIPE.

The business combination was recommended to RAC’s board of directors (the “Board”) by the Special Committee, has been approved by the Board based on the Special Committee’s recommendation, and is expected to close in the third quarter of 2021, subject to certain closing conditions, including receipt of approval by holders of a majority of the RAC stock held by stockholders unaffiliated with Rice Investment Group.

Debt Financing

In addition to the PIPE capital, RAC has secured $340 million of debt commitments from Comerica Bank’s Environmental Services Department.

Advisors

Moelis & Company LLC acted as financial advisor to the Special Committee. Richards, Layton and Finger PA served as legal counsel to the Special Committee. Kirkland & Ellis LLP served as legal counsel to RAC. Pillsbury Winthrop Shaw Pittman LLP served as legal counsel to Archaea LLC. Barclays acted as financial advisor to Aria. Orrick served as legal counsel to Aria and Ares. Citi and Jefferies LLC acted as lead placement agents and Roth Capital Partners LLC acted as co-placement agent on the PIPE.

Investor Presentation

For more information, please view the investor presentation here. The Archaea Energy website is www.archaeaenergy.com. A recorded presentation from management discussing the business combination will be available here on April 7^th at 8:00pm Eastern Time and a transcript of this webcast will be filed by RAC with the SEC.

About Rice Acquisition Corporation

Rice Acquisition Corp. is led by former executives of Rice Energy and EQT, the largest natural gas producer in the U.S. We intend to leverage our expertise building industry-leading energy production companies to develop the world’s clean energy supply.

About Ares Management Corporation

Ares Management Corporation is a leading global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate and Strategic Initiatives. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent, attractive investment returns for fund investors throughout market cycles. As of December 31, 2020, Ares Management's global platform had approximately $197 billion of assets under management with more than 1,450 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

About Ares Infrastructure and Power

Ares Infrastructure and Power (“AIP”) provides flexible capital across the climate infrastructure, natural gas generation, and energy transportation sectors. AIP leverages a broadly skilled and cohesive team of more than 25 investment professionals with deep domain experience and has deployed over $9 billion of capital in more than 200 different infrastructure and power assets and companies as of December 31, 2020.

Forward Looking Statements

This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “may,” “might,” “will,” “would,” “could,” “should,” “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions, although not all forward looking statements contain such identifying words. All statements other than historical facts are forward looking statements. Such statements include, but are not limited to, statements concerning the business combination; the PIPE offering; market conditions and trends; earnings, performance, strategies, prospects and other aspects of the businesses of RAC, Aria, Archaea LLC and the combined Company. Forward looking statements are based on current expectations, estimates, projections, targets, opinions and/or beliefs of RAC, Archaea LLC and/or Aria, and such statements involve known and unknown risks, uncertainties and other factors.

The risks and uncertainties that could cause those actual results to differ materially from those expressed or implied by these forward looking statements include, but are not limited to: (a) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed business combination and any transactions contemplated thereby; (b) the ability to complete the transactions contemplated by the proposed business combination due to the failure to obtain approval of the stockholders of RAC, or other conditions to closing of the proposed business combination; (c) the ability to meet NYSE's listing standards following the consummation of the transactions contemplated by the proposed business combination; (d) the risk that the proposed transactions disrupt current plans and operations of Aria, Archaea or their subsidiaries as a result of the announcement and consummation of the transactions described herein; (e) the ability to recognize the anticipated benefits of the proposed transactions, which may be affected by, among other things, competition, the ability of the combined Company to grow and manage growth profitably and retain its management and key employees; (f) costs related to the proposed business combination and related transactions; (g) the possibility that Aria or Archaea may be adversely affected by other economic, business, and/or competitive factors; (h) the combined Company’s ability to develop and operate new projects; (i) the reduction or elimination of government economic incentives to the renewable energy market; (j) delays in acquisition, financing, construction and development of new projects; (k) the length of development cycles for new projects, including the design and construction processes for the combined Company’s projects; (l) the combined Company’s ability to identify suitable locations for new projects; (m) the combined Company’s dependence on landfill operators; (n) existing regulations and changes to regulations and policies that effect the combined Company’s operations; (o) decline in public acceptance and support of renewable energy development and projects; (p) sustained demand for renewable energy; (q) impacts of climate change, changing weather patterns and conditions, and natural disasters; (r) the ability to secure necessary governmental and regulatory approvals; and (s) other risks and uncertainties indicated in the preliminary or definitive proxy statement, including those under "Risk Factors" therein, and other documents filed or to be filed with the SEC by RAC.

The foregoing list of factors is not exclusive. You should not place undue reliance upon any forward looking statements, which speak only as of the date made. RAC, Aria, Archaea LLC and the combined Company do not undertake or accept any obligation or undertaking to update or revise the forward looking statements set forth herein, whether as a result of new information, future events or otherwise, except as may be required by law.

Non-GAAP Financial Measures

This press release includes non-GAAP measures, such as EBITDA, that are not prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and that may be different from non-GAAP measures used by other companies. These non-GAAP measures should not be considered in isolation from, or as an alternative to, financial measures prepared in accordance with GAAP. Forward looking non-GAAP measures are presented without reconciliation to the comparable GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, and RAC is unable to provide such reconciliation without unreasonable effort.

Important Information about the Transaction and Where to Find It

In connection with the proposed business combination, RAC intends to file a preliminary proxy statement and a definitive proxy statement with the Securities and Exchange Commission (the “SEC”). This press release does not contain all the information that should be considered concerning the proposed combination, and it is not intended to provide the basis for any investment decision or any other decision regarding the proposed combination. RAC’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement, the amendments thereto, and the definitive proxy statement and documents incorporated by reference therein filed in connection with the proposed combination, as these materials will contain important information about the combined Company, RAC, Aria, Archaea LLC and the proposed combination. When available, the definitive proxy statement will be mailed to the stockholders of RAC as of a record date to be established for voting on the proposed combination. Stockholders will also be able to obtain copies of the preliminary proxy statement, the definitive proxy statement and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s website at http://www.sec.gov.

Participants in the Solicitation

RAC, Aria and Archaea LLC and their respective directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies of RAC’s stockholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of RAC’s stockholders in connection with the proposed combination, including their names and a description of their interests in the proposed combination, will be set forth in the proxy statement relating to such transaction when it is filed with the SEC.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended.

Investor Relations
Kyle Derham
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Media Relations
Montieth M. Illingworth
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ATHENS, Greece--(BUSINESS WIRE)--Danaos Corporation (NYSE: DAC), one of the world’s largest independent owners of containerships, is saddened to report the passing of Robert A. Mundell, who served as an invaluable member of Danaos’ Board of Directors from 2006, when the company went public, through 2015.

From 1974 until his recent passing, Mr. Mundell was a professor in the economics department at Columbia University in New York, where he held Columbia’s highest academic rank of University Professor. For much of his career in academia, he was unconventional in his thinking and delighted in stepping “on a lot of intellectual toes.” Known as the “father of the Euro,” Mr. Mundell laid the groundwork for its introduction and also helped to start the movement known as supply-side economics. He received the Nobel Memorial Prize in Economics in 1999 for his pioneering work in monetary dynamics and optimum currency areas. The Nobel committee noted that Mr. Mundell “chose his problems with uncommon – almost prophetic – accuracy in terms of predicting the future development of international monetary arrangements and capital markets.”

Mr. Mundell is survived by his wife Valerie, his children Nicholas, Bill and Robyn and eight grandchildren. The members of Danaos’ management team mourn his passing and extend their most sincere condolences to his family.

About Danaos Corporation

Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our current fleet of 65 containerships aggregating 403,793 TEUs, including five vessels owned by Gemini Shipholdings Corporation, a joint venture, ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world's largest liner companies on fixed-rate charters. Our long track record of success is predicated on our efficient and rigorous operational standards and environmental controls. Danaos Corporation's shares trade on the New York Stock Exchange under the symbol "DAC".

Visit our website at www.danaos.com

Company:

Evangelos Chatzis
Chief Financial Officer
Danaos Corporation
Athens, Greece
Tel: +30 210 419 6480
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Iraklis Prokopakis
Senior Vice President & Chief Operating Officer
Danaos Corporation
Athens, Greece
Tel. +30 210 419 6400
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Investor Relations and Financial Media:

Rose & Company
New York
Tel. 212-359-2228
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Special purpose acquisition company Rice Acquisition Corp. will enter into a business combination with Archaea Energy and Aria Energy

CANONSBURG, Pa.--(BUSINESS WIRE)--Archaea Energy LLC (“Archaea”), an emerging leader in the development and advancement of renewable natural gas (RNG), announced today an agreement to enter into a business combination with Aria Energy LLC (“Aria”) led by Rice Acquisition Corporation (NYSE: RICE) (“RAC”), a special purpose acquisition company focused on the energy transition sector. The business combination with Archaea and Aria, one of the largest companies in the North American landfill gas (LFG) sector, will create the leading U.S. RNG platform. The combined company, which will be called Archaea Energy (the “combined Company”), will be dedicated to reducing carbon emissions through landfill gas conversion, CO₂ sequestration, and green hydrogen.

“Archaea was founded to create green energy from methane produced through anaerobic digestion, a greenhouse gas 25 times more harmful than carbon dioxide,” said Nicholas Stork, Archaea Co-Founder and Chief Executive Officer. “We are on a trajectory to become a leading RNG platform in North America, serving our decarbonization partners under long-term supply agreements. Our mission is to reduce the carbon intensity (CI) of vented and flared methane and empower corporations, universities, municipalities and utilities to meet their sustainability goals.”

RNG is a green bridge to sustainability and long-term decarbonization that enables organizations to greenify their existing natural gas infrastructure. It is the most sustainable solution for capturing carbon emissions generated by food waste, wastewater, agriculture waste and landfill gas. RNG is becoming part of the North American and worldwide clean energy supply chain as an increasing number of entities look to secure a green energy future.

60-70%+ of the combined Company’s RNG volumes will be contracted under fixed-price off-take arrangements with investment-grade customers to limit earnings volatility. Archaea currently has a higher indicated demand through its existing partnerships than the entire RNG production in the market today.

“Archaea’s expanding customer base, the growing demand for RNG and our team’s experience and ability to produce and deliver pipeline-quality RNG through the existing natural gas infrastructure will drive our growth,” said Brian McCarthy, Archaea Energy Co-Founder and Chief Financial Officer. “The already demonstrated institutional investor confidence in our vision for Archaea Energy will also enable us to deliver a low-risk development program with two-thirds of our RNG production under long-term, fixed-price arrangements with investment-grade buyers.”

Archaea is led by an entrepreneurial team of new generation landfill owners and RNG technologists. To continue to lower the carbon intensity of its RNG, Archaea is developing CO₂ sequestration and green hydrogen projects using its RNG as a feedstock resulting in negative CI scores.

RAC’s heavily oversubscribed PIPE obtained $300 million in commitments led by institutional investors including The Baupost Group, BNP Paribas Energy Transition Fund, CIBC, Goldman Sachs Asset Management LP¹, and Wellington Management as well as anchor orders from the Rice family, Saltonstall family, and Archaea management. The anticipated valuation of the business combination of RAC, Archaea and Aria is $1.15 billion at close, which is expected in the third quarter of 2021. Archaea Energy’s new executive team will be comprised of leaders from Aria and Archaea and the combined Company plans to remain listed on the NYSE under the ticker symbol “LFG”. Pillsbury Winthrop Shaw Pittman LLP is the legal counsel to Archaea.

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About Archaea Energy

Archaea Energy is an emerging leader in developing renewable natural gas for high-carbon emission processes and industries by capturing recurring emissions from food waste, wastewater, agricultural waste and landfill gas. Archaea builds, operates and manages RNG projects during the entire energy life cycle and offers off-take partners the opportunity to purchase RNG from Archaea’s portfolio of projects under long-term agreements. Our experienced team of landfill owners, engineers and RNG experts empower organizations to reach their sustainability goals by turning carbon into a long-term renewable energy asset that is a predictable source of revenue. We deliver pipeline-quality RNG from coast to coast using the existing natural gas infrastructure.

About Rice Acquisition Corporation

Rice Acquisition Corp. is led by former executives of Rice Energy and EQT, the largest natural gas producer in the U.S. We intend to leverage our expertise building world-class energy production companies to develop the world’s clean energy supply.

Important Information about the Transaction and Where to Find It

In connection with the proposed business combination, RAC intends to file a preliminary proxy statement and a definitive proxy statement with the Securities and Exchange Commission (the “SEC”). This press release does not contain all the information that should be considered concerning the proposed combination, and it is not intended to provide the basis for any investment decision or any other decision regarding the proposed combination. RAC’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement, the amendments thereto, and the definitive proxy statement and documents incorporated by reference therein filed in connection with the proposed combination, as these materials will contain important information about the combined Company, RAC, Aria, Archaea and the proposed combination. When available, the definitive proxy statement will be mailed to the stockholders of RAC as of a record date to be established for voting on the proposed combination. Stockholders will also be able to obtain copies of the preliminary proxy statement, the definitive proxy statement and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s website at http://www.sec.gov.

Participants in the Solicitation

RAC, Aria and Archaea and their respective directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies of RAC’s stockholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of RAC’s stockholders in connection with the proposed combination, including their names and a description of their interests in the proposed combination, will be set forth in the proxy statement relating to such transaction when it is filed with the SEC.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended.

¹ Acting as investment advisor on behalf of client accounts.

Media Relations

Katarina Matic
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Investor Relations

Brian McCarthy
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Companies will jointly commercialize and deploy innovative and efficient subsea interventions and controls

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) and Optime Subsea today announced they formed a global strategic alliance to apply Optime’s innovative Remotely Operated Controls System (ROCS) to Halliburton’s completion landing string services. The companies will also collaborate and offer intervention and workover control system services leveraging Optime’s Subsea Controls and Intervention Light System (SCILS) technology, a remote digital enabled system that compliments Halliburton’s subsea intervention expertise.

The alliance will provide umbilical-less operations and subsea controls for deepwater completions and interventions delivering increased operational efficiencies while minimizing safety risk through a smaller offshore footprint. Halliburton will offer Optime’s innovative technologies as a service across its global portfolio.

“We are excited to work with Optime and leverage their technologies within our existing subsea completions and intervention solutions,” said Daniel Casale, vice president of Testing and Subsea. “Our alliance advances remote capabilities and provides a capital efficient solution, allowing customers to reduce safety risk, operational footprint, setup and run-time.”

“We believe that strong mutual alliances across the vertical supply chain drives continuous improvements needed in our industry,” said Jan-Fredrik Carlsen, CEO of Optime Subsea. “By solidifying this relationship with Halliburton and combining their well-established, reputable service and technology capabilities with Optime’s innovative controls and intervention technology, more customers will have access to these cost-efficient subsea solutions.”

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

About Optime Subsea

Founded in 2015, Optime is an innovative and globally leading technological provider of subsea controls and intervention systems. With its headquarter in Notodden, Norway, and international office in Houston, TX, USA, it is a fully integrated system and services provider with all of the capabilities to optimize subsea well interventions and completions operations. Within this segment, their capabilities are delivering quick to market solutions, further reducing cost, size and improving operational efficiency – simplifying subsea (www.optimesubsea.com).

For Halliburton
Investors:
Abu Zeya
Halliburton, Investor Relations
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281-871-2633

Media:
William Fitzgerald
Halliburton, External Affairs
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713-876-0105

For Optime Subsea
Investor Relations
Jan-Fredrik Carlsen
Optime, Notodden, Norway
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+47 414 60 996

Media:
Thor Lovland
Optime, Houston, TX
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+1 832 904 6842

LONDON--(BUSINESS WIRE)--Pole Star Space Applications Limited (“Pole Star”), the leading innovator in providing cloud-based compliance software solutions to the maritime sector, announced today that Wavecrest Growth Partners and Abry Partners have successfully completed a significant growth investment in the company. The capital will be used to accelerate hiring, scale sales, and expand product development to meet substantive and increasing demand for its related trade & commodity finance, maritime surveillance, and ESG sustainability solutions and to accelerate innovation into disruptive AI, ML, and distributed ledger technologies. Pole Star was represented by Stifel, Nicolaus & Company, Inc. in the transaction.

“All components of the maritime sector are now entering a significant digitalisation phase, driven by: international regulations and programs, the interoperable collaborative trade processes being set by the principal major shipping lines and ports, the adoption of cybersecurity best practices, the impact of Covid-19 driving paperless trade, and the emergence of truly disruptive trade execution platforms,” said Julian Longson, CEO of Pole Star. “We are at a critical inflection point in the market and are excited to further our market leadership position. We are very pleased to partner with Wavecrest and Abry, who bring enterprise SaaS and go-to-market scaling expertise and look forward to accelerating several initiatives for current and future clients.”

Describing the investment, Deepak Sindwani, Managing Partner at Wavecrest Growth Partners said, “We are focused growth investors in vertical software. The maritime industry is the critical conduit for $20 trillion of annual global trade, and it is an exciting time in the industry given the several opportunities for cloud software – compliance, surveillance, payments, and other areas. We believe Pole Star is incredibly well-positioned to capitalize on these trends and are excited to partner with them.”

“Pole Star has developed a tremendous reputation as an innovator in the maritime sector over the last 20 years,” said James Scola, Principal at Abry Partners. “We are delighted to partner with the team to help Pole Star capitalize on the significant growth opportunities ahead by bringing greater transparency and digitization to the global trade market.”

As part of the transaction, Colin Doherty, ex-five-time software CEO and Growth Partner at Wavecrest Growth Partners and Oni Chukwu, who most recently was the Executive BOD chair and CEO of US-headquartered Aventri Software, will both join the Pole Star board of directors.

About Pole Star

Pole Star is recognised as a leading innovator and provider of vessel-centric, enterprise SaaS technologies that empower maritime insight and inform real-world decisions. The company provides services to over 1500 clients including shipping companies, government agencies & ports, banks & commodity trade finance firms, along with many other maritime services stakeholders. Since 1998, Pole Star has transformed the market with several disruptive services and become a recognised thought leader, providing solutions to mitigate growing threats to the supply chain, ports, ships, cargo, and crew within the maritime infrastructure along with its partners advancing new payment commitment and sustainable financing solutions. For more information, visit polestarglobal.com.

About Wavecrest Growth Partners

Wavecrest Growth Partners is a growth equity firm focused on investing in and partnering with leading B2B software and technology-enabled services companies. Wavecrest targets investments in high-growth companies with proven products and business models and brings to bear a differentiated combination of investing and operating experience and networks to help accelerate growth and profitability. Wavecrest's team has over three decades of collective investing and operating experience in growth-stage B2B technology companies, including numerous successful outcomes. For more information, visit wavecrestgrowth.com.

About Abry Partners

Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $82 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across its active funds. For more information, visit abry.com.

Alexandra Boudreault-Manos
Pole Star Space Applications
+44 7837 977018
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Stephen Fishleigh
BackBay Communications
+44 203-475-7552
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Caroline Collins
BackBay Communications
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TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”), a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today reported results for the fourth quarter and full year 2020.

Highlights

• Net income for the full year 2020 was $30.0 million, or $0.33 per diluted share, compared with $8.7 million, or $0.10 per diluted share for the full year 2019.

• Net loss for the fourth quarter was $844 thousand, or $(0.01) per diluted share, compared with net income of $11.0 million, or $0.12 per diluted share, for the fourth quarter 2019.

• Shipping revenues for the fourth quarter 2020 were $97.5 million, down 0.9% compared with the fourth quarter 2019. Shipping revenues for the full year 2020 were $418.7 million, up 17.8% compared with the full year 2019.

• Time charter equivalent (TCE) revenues^(A), a non-GAAP measure, for the fourth quarter 2020 were $86.1 million, down 8.2% compared with the fourth quarter 2019. TCE revenues for the full year 2020 were $375.9 million, up 12.2%, compared with the full year 2019.

• Fourth quarter 2020 Adjusted EBITDA^(B), a non-GAAP measure, was $20.5 million, down 39.1% from $33.7 million in the same period in 2019. Full year Adjusted EBITDA was $124.9 million, up 36.3%, from $91.6 million in the same period in 2019.

• Total cash^(C) was $69.8 million as of December 31, 2020.

• In November 2020, the Company closed on a $49.2 million loan for a term of 7 years. OSG’s subsidiaries, OSG 205 LLC and OSG Courageous II LLC, obtained the loan to finance one new 204,000 barrel U.S. Flag oil and chemical ATB barge, the OSG 205, and to refinance the tug to which the barge is paired, the OSG Courageous. In December 2020, the Company took delivery of the barge. The ATB unit is operating in the Jones Act trade and has entered into a one-year time charter.

Sam Norton, President and CEO, stated, “The full year 2020 financial results reported today met our expectations and gave us confidence in realizing the full potential of OSG’s diverse mix of business assets. To have realized these results in the midst of a global pandemic is largely the work of OSG professionals whose dedication and commitment to a safe and virus free environment has enabled us to provide operational readiness of our vessels throughout the past year. The continuing effects of the pandemic will present more pronounced financial pressures in the short run, the result of an expiring book of time charters coming off at a time when global petroleum fuels demand remains muted. However, we consider the prospects for a vaccine enabled recovery in the second half of this year to be strong, and look forward to a resumption of the positive market trends witnessed in recent years.”

As reported by the Company in its Form 12b-25 filing made on March 17, 2021, due to the prolonged depressed market conditions that exist as a result of the COVID-19 pandemic's direct impact on our business, we sought and obtained modifications to certain of our financial covenants in our vessel financing facilities.

^{A, B, C} Reconciliations of these non-GAAP financial measures are included in the financial tables attached to this press release below.

Fourth Quarter 2020 Results

Shipping revenues were $97.5 million for the quarter, down 0.9% compared with the fourth quarter of 2019. TCE revenues for the fourth quarter of 2020 were $86.1 million, a decrease of $7.7 million, or 8.2%, compared with the fourth quarter of 2019, primarily due to (a) two fewer ATBs in our fleet, (b) a 74-day increase in scheduled drydocking, (c) a decrease in Delaware Bay lightering volumes and (d) a 232-day increase in lay-up days primarily due to two vessels placed in lay-up, a decision taken in light of the lack of demand due to COVID-19 economic impact. The decrease was offset by the addition to our fleet of three crude oil tankers, Alaskan Explorer, Alaskan Legend and Alaskan Navigator, which were purchased in March 2020, and two ATBs, OSG 204 and OSG Endurance and OSG 205 and OSG Courageous, which were delivered at the end of May 2020 and beginning of December 2020, respectively.

Operating income for the fourth quarter of 2020 was $2.2 million compared to operating income of $18.7 million in the fourth quarter of 2019.

Net loss for the fourth quarter was $844 thousand, or $(0.01) per diluted share, compared with net income of $11.0 million, or $0.12 per diluted share, for the fourth quarter 2019.

Adjusted EBITDA was $20.5 million for the quarter, a decrease of $13.2 million compared with the fourth quarter of 2019, driven primarily by the decrease in TCE revenues.

Full Year 2020 Results

Shipping revenues were $418.7 million for the full year 2020, up 17.8% compared with the full year 2019. TCE revenues for the full year 2020 were $375.9 million, an increase of $40.7 million, or 12.2%, compared with the full year 2019. The increase in shipping revenues and TCE revenues was primarily due to the addition to our fleet of two Marshall Islands flagged MR tankers, Overseas Gulf Coast and Overseas Sun Coast, which entered service during the fourth quarter of 2019, three crude oil tankers, Alaskan Explorer, Alaskan Legend and Alaskan Navigator, which were purchased in March 2020, and two ATBs, OSG 204 and OSG Endurance and OSG 205 and OSG Courageous, which were delivered at the end of May 2020 and beginning of December 2020, respectively. The increase was offset by (a) two fewer ATBs in our fleet, (b) a 322-day increase in scheduled drydocking, (c) a decrease in Delaware Bay lightering volumes and (d) a 160-day increase in lay-up days primarily due to one vessel that was redelivered from time charter during the third quarter of 2020 and placed in lay-up, a decision taken in light of the lack of demand due to COVID-19 economic impact.

Operating income for the full year 2020 was $58.6 million compared to operating income of $33.4 million for the full year 2019.

Net income for the full year 2020 was $33.0 million, or $0.33 per diluted share, compared with net income of $8.7 million, or $0.10 per diluted share, for the full year 2019.

Adjusted EBITDA was $124.9 million for the full year 2020, an increase of $33.3 million compared with the full year 2019.

Conference Call

The Company will host a conference call to discuss its fourth quarter and full year 2020 results at 9:30 a.m. Eastern Time (“ET”) on Wednesday, April 7, 2021.

To access the call, participants should dial (844) 850-0546 for domestic callers and (412) 317-5203 for international callers. Please dial in ten minutes prior to the start of the call.

A live webcast of the conference call will be available from the Investor Relations section of the Company’s website at http://www.osg.com/.

An audio replay of the conference call will be available starting at 11:30 a.m. ET on Wednesday, April 7, 2021 through 10:59 p.m. ET on Wednesday, April 21, 2021 by dialing (877) 344-7529 for domestic callers and (412) 317-0088 for international callers, and entering Access Code 10153746.

About Overseas Shipholding Group, Inc.

Overseas Shipholding Group, Inc. (NYSE:OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 22 vessel U.S. Flag fleet consists of three crude oil tankers doing business in Alaska, two conventional ATB, two lightering ATBs, three shuttle tankers, ten MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program. OSG also currently owns and operates two Marshall Islands flagged MR tankers which trade internationally.

OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, the Company may make or approve certain forward-looking statements in future filings with the Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to our prospects, supply and demand for vessels in the markets in which we operate and the impact on market rates and vessel earnings, the continued stability of our niche businesses, and the impact of our time charter contracts on our future financial performance. Forward-looking statements are based on our current plans, estimates and projections, and are subject to change based on a number of factors. COVID-19 has had, and will continue to have, a profound impact on our workforce, and many aspects of our business and industry. Investors should carefully consider the risk factors outlined in more detail in our filings with the SEC. We do not assume any obligation to update or revise any forward-looking statements except as may be required by applicable law. Forward-looking statements and written and oral forward-looking statements attributable to us or our representatives after the date of this press release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by us with the SEC.

Spot and Fixed TCE Rates Achieved and Revenue Days

The following tables provide a breakdown of TCE rates achieved for spot and fixed charters and the related revenue days for the three months and fiscal year ended December 31, 2020 and the comparable periods of 2019. Revenue days in the quarter ended December 31, 2020 totaled 1,756 compared with 1,887 in the prior year quarter. Revenue days in the fiscal year ended December 31, 2020 totaled 7,639 compared with 7,215 in the prior year. A summary fleet list by vessel class can be found later in this press release.

Fleet Information

As of December 31, 2020, OSG’s operating fleet consisted of 25 vessels, 13 of which were owned, with the remaining vessels chartered-in. Vessels chartered-in are on Bareboat Charters.

Reconciliation to Non-GAAP Financial Information

The Company believes that, in addition to conventional measures prepared in accordance with GAAP, the following non-GAAP measures provide investors with additional information that will better enable them to evaluate the Company’s performance. Accordingly, these non-GAAP measures are intended to provide supplemental information, and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP.

(A) Time Charter Equivalent (TCE) Revenues

Consistent with general practice in the shipping industry, the Company uses TCE revenues, which represents shipping revenues less voyage expenses, as a measure to compare revenue generated from a voyage charter to revenue generated from a time charter. TCE revenues, a non-GAAP measure, provides additional meaningful information in conjunction with shipping revenues, the most directly comparable GAAP measure, because it assists Company management in making decisions regarding the deployment and use of its vessels and in evaluating their financial performance. Reconciliation of TCE revenues of the segments to shipping revenues as reported in the consolidated statements of operations follows:

Vessel Operating Contribution

Vessel operating contribution, a non-GAAP measure, is TCE revenues minus vessel expenses and charter hire expenses.

(B) EBITDA and Adjusted EBITDA

EBITDA represents net income/(loss) before interest expense, income taxes and depreciation and amortization expense. Adjusted EBITDA consists of EBITDA adjusted to exclude amortization classified in charter hire expenses, interest expense classified in charter hire expenses, loss/(gain) on disposal of vessels and other property, including impairments, net, non-cash stock based compensation expense and loss on repurchases and extinguishment of debt and the impact of other items that we do not consider indicative of our ongoing operating performance. EBITDA and Adjusted EBITDA do not represent, and should not be a substitute for, net income/(loss) or cash flows from operations as determined in accordance with GAAP. Some of the limitations are: (i) EBITDA and Adjusted EBITDA do not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments; (ii) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, our working capital needs; and (iii) EBITDA and Adjusted EBITDA do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on our debt. While EBITDA and Adjusted EBITDA are frequently used as a measure of operating results and performance, neither of them is necessarily comparable to other similarly titled measures used by other companies due to differences in methods of calculation. The following table reconciles net income/(loss) as reflected in the consolidated statements of operations, to EBITDA and Adjusted EBITDA.

Investor Relations & Media Contact:
Susan Allan, Overseas Shipholding Group, Inc.
(813) 209-0620
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New agreement to bring LNG direct to growth area in strategic market

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today announced its wholly-owned subsidiary Chevron U.S.A. Inc. (Singapore Branch) (“CUSA”) has signed a binding Sale and Purchase Agreement (SPA) with Hokkaido Gas Co., Ltd. for the delivery of liquefied natural gas (LNG) from Chevron’s global LNG portfolio to the Hokkaido area.

Under the agreement, CUSA will supply Hokkaido Gas with about a half million tons of LNG over a period of five years starting April 2022.

“We are delighted to design and execute a Sales and Purchase Agreement (SPA) with our new partner Hokkaido Gas that will bring Chevron LNG directly to Hokkaido, a key growth area. It broadens our customer base in Japan, a market that is foundational to our LNG business. This new SPA represents Chevron’s commitment to collaborate with Hokkaido Gas in diversifying energy solutions and advancing a lower carbon future in the Hokkaido area,” said John Kuehn, President of Chevron Global Gas, a division of CUSA.

Hokkaido Gas is an integrated energy company located in Sapporo, Japan which provides city gas, electricity and other high value-added energy services in Hokkaido region.

Chevron Corporation is one of the world's leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, California. More information about Chevron is available at www.chevron.com.

Cam Van Ast -- +61 8 9216 4462

Ameresco continues research on advanced energy storage systems in partnership with the Environmental Security Technology Certification Program

FRAMINGHAM, Mass.--(BUSINESS WIRE)--#batteryenergystorage--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that it has begun phase-two of a multi-stage investigation into how flow battery technology could support microgrids with the Department of Defense (DoD). Phase-one of the investigation was completed in April 2020 and primarily focused on evaluating the technical and economic feasibility of flow battery energy storage. Phase-two of the investigation shifts attention to physical validation and evaluation of flow batteries at the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in Golden, CO.

Phase-one of the research won a 2020 Project of the Year award from the Strategic Environmental Research and Development Program (SERDP) and Environmental Security Technology Certification Program (ESTCP). This success paved the way for Ameresco to advance to the second phase of the multi-stage research program, which is being conducted in partnership with NREL, and supported by Invinity Energy Systems (LSE:IES) and S&C Electric Company. Funding for the investigation comes from ESTCP, whose goal is to identify and demonstrate the most promising innovative and cost-effective technologies and methods that address DoD’s high-priority environmental requirements.

Research collected from the project’s first phase demonstrated that there is an opportunity for Vanadium Flow Battery (VFB) storage technology to decrease diesel generation reliance and lower the cost of critical load support within a military microgrid. Given these results, the objective of phase-two is to validate the reliability and operational performance of VFB battery equipment through Hardware in the Loop (HIL) testing.

“Microgrids offer enormous opportunity to provide resilient power—from military installations, to campuses to communities,” said Dr. Martha Symko-Davies, Laboratory Program Manager for NREL’s Energy Systems Integration Facility. “Flexible energy storage is a key component to incorporating more variable renewable energy into microgrid systems. We are extremely pleased to bring our advanced laboratory capabilities and expert researchers to this ESTCP project to further advance the state of the art of the technology. We look forward to sharing results from this effort, which can inform a wide range of military and nonmilitary applications.”

If the results of this work justify further investigation of flow battery technology, Ameresco hopes to continue this research with a future field deployment of a flow battery system at a DoD site. This third phase of work would significantly contribute to strengthening the depth of knowledge available on advanced energy technologies such as flow batteries.

Additionally, Ameresco was recently selected for another ESTCP project which is expected to begin in 2022. The focus of this project is to demonstrate building level energy storage, with a zinc bromide flow battery that can be sited indoors.

“We are very pleased to be continuing our ESTCP funded research to advance the field of study around such important energy storage technologies,” said Nicole Bulgarino, executive vice president of Federal Solutions at Ameresco. “Research like this is crucial to characterizing the performance of novel energy storage technologies like flow batteries, and to identifying under what circumstances they can support microgrid projects with our Federal customers. We’re thrilled to be at the forefront of developing energy storage technologies that not only benefit the industry but the world at-large.”

To learn more about Ameresco’s research or download a copy of the phase-one report, visit the ESTCP website.

About Ameresco, Inc.

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

About the Environmental Security Technology Certification Program

Environmental Security Technology Certification Program (ESTCP) is the DoD’s environmental technology demonstration and validation program. The Program was established in 1995 to promote the transfer of innovative technologies that have successfully established proof of concept to field or production use. ESTCP demonstrations collect cost and performance data to overcome the barriers to employ an innovative technology because of concerns regarding technical or programmatic risk, the so-called “Valley of Death.” The Program’s goal is to identify and demonstrate the most promising innovative and cost-effective technologies and methods that address DoD’s high-priority environmental requirements. Projects conduct formal demonstrations at DoD facilities and sites in operational settings to document and validate improved performance and cost savings. To ensure the demonstrated technologies have a real impact, ESTCP collaborates with end-users and regulators throughout the development and execution of each demonstration. Transition challenges are overcome with rigorous and well-documented demonstrations that provide the information needed by all stakeholders for acceptance of the technology.

The announcement of a customer’s entry into a project study contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported contracted backlog as of December 31, 2020.

Media:
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PARIS--(BUSINESS WIRE)--Regulatory News:

Technip Energies (PARIS:TE) has been awarded a significant⁽¹⁾ Engineering, Procurement, Construction and Commissioning (EPCC) contract by Indian Oil Corporation Limited (IOCL) for its BR9 Expansion Project in Barauni, Bihar, in the Eastern part of India.

This EPCC contract covers the installation of a new Once-through Hydrocracker Unit (OHCU) of 1 million metric tonnes per annum (MMTPA) capacity, a Fuel Gas Treatment Unit (FGTU) and the associated facilities. The OHCU, in combination with downstream refinery units, will enable production of BS VI Grade fuels – similar to Euro VI Grade fuels – and petrochemicals.

Bhaskar Patel, Senior Vice President India Business Unit at Technip Energies commented: “We are very pleased to have been awarded this contract by Indian Oil Corporation Limited. This award demonstrates our long-term commitment in India and substantially consolidates our positioning in High Operating Pressure projects. It also strengthens our position as a leading provider of key projects to the major players in India’s domestic energy sector.”

IOCL’s Barauni refinery, built in 1964, is the second refinery to be built in India. The BR9 Expansion project shall enhance refinery capacity from 6 MMTPA to 9 MMTPA and will add petrochemicals such as Polypropylene into Barauni refinery’s product portfolio.

Technip Energies has a strong footprint in India with local presence in Delhi, Mumbai, Chennai and Dahej.

⁽¹⁾ For Technip Energies, a “significant” contract is between €50 million and €250 million.

Note: this award is included in the Company’s first quarter 2021 financial results.

To know more about Technip Energies refining and petrochemicals capabilities:

We are known as a world-class player in the refining industry - from conceptual design to turnkey delivery. Our services cover the entire value chain for refining projects and integrated petrochemical complexes.

Learn more on: https://www.technipenergies.com/markets/refining

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.technipenergies.com.

Disclaimers

This release is intended for informational purposes only for the shareholders of Technip Energies. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

Investor relations

Phil Lindsay
Vice-President Investor Relations
Tel: +44 203 429 3929
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Media relations

Stella Fumey
Director Press Relations & Digital Communications
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Jason Hyonne
Public Relations Officer
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Shell Ventures, EDF, DSD join EIP’s collaborative European coalition to foster innovation towards a sustainable energy future

NEW YORK & LONDON--(BUSINESS WIRE)--Energy Impact Partners (EIP), the global investment platform leading the transition to a sustainable energy future, announced Shell Ventures, EDF, and DSD as the latest European leaders to join its coalition focused on the advancement of technologies accelerating global decarbonization. EIP’s coalition collaborates by sharing insights, investing in innovative and transformative businesses, and amplifying entrepreneurs' growth through dedicated partnerships.

Shell Ventures, EDF, and DSD represent a broad cross-section of the European energy industry. Their participation in EIP’s global coalition displays a commitment and shared mission to accelerate the pace of innovation and rapidly scale the adoption of critical climate solutions. They join a diverse group of industry leaders across the energy, mobility and sustainability industries including EWE, Fortum, Enterprise Holdings, AGL, Nysno, and Tronder Energie.

“We want to welcome Shell Ventures, EDF, and DSD as our newest partners to EIP’s European coalition,” said Matthias Dill, Managing Partner at Energy Impact Partners. “The experience that these innovative companies bring will allow us to better accelerate existing climate solutions and to create new technologies to facilitate a global energy transition.”

“Shell Ventures is looking forward to actively participating in EIP’s global investment platform. As leaders in the energy transition, both Shell Ventures and EIP have previously co-invested in several ventures. The energy and the climate challenge are extremely complex and will require strong collaboration to scale promising solutions and create real impact. EIP’s strong convening power is therefore essential to help accelerate the shift to a lower carbon future.” (Geert van de Wouw, Vice President Shell Ventures)

“EDF Group is very enthusiastic about joining, along with some major industrial energy players, the European coalition of EIP devoted to identifying and supporting the development of innovative carbon neutrality oriented ventures. This partnership will enable us to detect new levers for growth in alignment with the strategy of EDF to support and accelerate the climate transition of our customers.” (Guillaume Lesueur, Head of Investments, EDF Pulse Croissance)

“DSD Group are very pleased to join this EIPs European Coalition from Norway. Innovation and energy efficient solutions have always been in the core of DSD’s 166-year long existence. We invest in people who want to search and develop new ideas, create world-leading technology and contribute to a sustainable future. We believe the unique approach that EIP Global & European Coalition represents, will help accelerating the green energy transition, and we are grateful for EIP’s effort and initiative for making this happen. Together and in collaboration with many innovative industrial players world-wide we really look forward to working for a more carbon-neutral world.” (Yuhong Jin Hermansen, Chairman of the Board, DSD AS)

For more information on EIP, please visit www.energyimpactpartners.com.

About Energy Impact Partners

Energy Impact Partners (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $1.5 billion in assets under management, EIP invests globally across venture, growth, credit and infrastructure – and has a team of more than 45 professionals based in its offices in New York, San Francisco, Palm Beach, London, and Cologne. For more information on EIP, please visit www.energyimpactpartners.com.

Energy Impact Partners Media Contact
Matthew Matyjek
On behalf of EIP
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Attendees will learn how to become more digital, meet growing expectations from customers, and what to expect from transportation and logistics in the next five to 10 years

CHICAGO & AALBORG, Denmark--(BUSINESS WIRE)--Today project44, the global leader in supply chain visibility for shippers and logistics service providers, announced it will be hosting The Digital Age of Trucking, an event for trucking companies and industry experts in Europe and North America. Taking place on April 13, this global event is the first of its kind in the industry, designed to bring together the trucking community to explore pressing topics such as the importance of digitalization and real-time visibility in the global trucking space. In addition, executives from SAP, U.S. Xpress, and more will share their thoughts on the broader logistics industry.

"project44 is thrilled to offer this unique event for the global trucking community,” said project44’s Senior Director, Global Partnerships & Alliances, Kristian Kaas Mortensen. “We’ll highlight industry trends seen across real-time visibility, telematics, trucking, brokerages, and so much more as digitalization has become such an essential part of the supply chain. All trucking companies are welcome to join the discussion with panelists from across Europe and the U.S."

“I can’t think of a more perfect time to talk about how the trucking industry is investing in and working with digital technology,” said Brent Hutto, chief relationship officer at Truckstop.com. “I appreciate project44 asking me to participate and look forward to what will surely be a lively discussion.”

The Digital Age of Trucking event will feature thought leaders from around the globe, including:

• Brian Duffy, Cloud President, SAP
• Mindaugas Raila, Chairman & Founder, Girteka Logistics
• Peter Bal, Business Leader Digital Customer Services EMEA, ZF Commercial Vehicle Control Systems
• Joel Gard, President Xpress Technologies, U.S. Xpress
• Brent Hutto, Chief Relationship Officer, Truckstop.com
• Sverre Vincent Lenbroch, CDO and Head of ITD Digital
• Jett McCandless, Founder and CEO, project44
• Vernon O’Donnell, Chief Product & Services Officer, project44
• Mallory Pierpoint, Head of Product Operations, project44
• Tim Bertrand, Chief Revenue Officer, project44

For more information or to register, click here.

About project44

project44 solves some of the world’s most critical logistics challenges by connecting, automating, and providing real-time visibility into global transportation processes. With project44’s cloud-based platform, organizations can increase operational efficiencies, reduce costs, improve shipping performance, and deliver an exceptional, Amazon-like experience to their customers. project44 supports all transportation modes and shipping types, including air, parcel, final-mile, less-than-truckload, volume less-than-truckload, groupage, truckload, rail, intermodal, and ocean. To learn more, visit www.project44.com.

Charlie Ungashick, CMO
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MONTREAL--(BUSINESS WIRE)--$LMR #Batteries--Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (Lomiko or the “Company”) is pleased to provide an update on its La Loutre graphite project (“La Loutre”), located in Quebec, Canada. La Loutre comprises the Graphene-Battery (GB) zone and the Electric Vehicle (EV) Zone. The names of the zones are not reflective of the products each will produce but generally indicate applications of products. The recent testwork program confirmed that each zone will produce similar products.

Highlights

• A metallurgical flowsheet development program was carried out on two composite samples of La Loutre graphite project. One composite was generated from mineralized samples from the EV zone yielding 9.70% graphitic carbon, and the second composite from drill core of the GB zone yielding 4.80% graphitic carbon.

• The process development was carried out on both composites and resulted in a flowsheet and conditions that are suitable to treat both zones of La Loutre mineralization in the same processing plant.

• The program culminated in a locked cycle test (“LCT”) that generated a combined concentrate grading 97.8% total carbon at 93.5% graphite recovery.

• Although the two mineralized zones produced noticeably different flake size distributions, they responded equally well to the same flowsheet and conditions with combined concentrate grades of over 97% total carbon.

“These very encouraging results of initial testing suggest that La Loutre graphite may be suitable for high-end industrial use,” stated A. Paul Gill, CEO. “Our next step is to complete a Preliminary Economic Assessment.”

Technical Discussion

Process Development

In January 2021, a metallurgical process development program was initiated at SGS Minerals in Lakefield, Ontario. The objective of the program was to develop the flowsheet and conditions suitable to upgrade La Loutre mineralization to at least 95% total carbon.

Metallurgical development work was carried out on two composites representing the two zones. The process development program produced a flowsheet and conditions that generated concentrates of over 97% total carbon for both mineralized zones. The equipment and reagents selected for the process are well established in the mineral processing field and are consistent with other graphite projects. The flowsheet, which is depicted in Figure 1, comprises rougher/scavenger flotation stage, followed by a primary and secondary cleaning circuit.

The GB composite produced a final concentrate with a significantly higher mass recovery into the +80 mesh size fraction of approximately 50% compared to 25-30% for the EV composite. However, both composites responded equally well to the same flowsheet and conditions, producing combined concentrate grades that are consistently at least 97% C(t).

The program culminated in a locked cycle test (LCT) using a 50:50 blend of the two mineralized zones. The overall mass balance is presented in Table 1. The mill feed grading 7.60% carbon was upgraded to a combined concentrate grading 98.5% carbon at an overall graphite recovery of 93.5%.

Table 1: Mass Balance of Locked Cycle Test LCT-1

The final concentrates of the three cycles that were used to develop the overall mass balance were submitted for a size fraction analysis (SFA), and the average results of the three SFAs are presented in Table 2. The combined concentrate grade of 97.8% total carbon is slightly lower compared to the direct concentrate analysis of the LCT mass balance, which is related to measurement uncertainties associated with assay methods.

A total of 32.4% of the concentrate mass reported to the +80 mesh size fractions at a combined grade of 97.8% total carbon. Another 10.8% of the mass was recovered into the -80/+100 mesh product at a grade of 98.2% and the balance of 56.8% reported to the -100 mesh size fractions at a combined grade 97.7% total carbon.

One of the primary applications for the -100 mesh size fraction is the value-add process to produce spherical graphite for batteries. The ability to upgrade the fines size fraction to almost 98% total carbon by flotation only might have a positive impact on downstream purification costs since concentrations of impurities are often proportional to purification cost.

Table 2: Average Size Fraction Analysis Results of LCT-1

Preliminary comminution tests produced Bond ball mill work indices of 6.9 kWh/t for the EV zone and 11.2 kWh/t for the GB zone, which places La Loutre mineralization into the very soft to soft category, which is favourable for minimizing grinding energy costs.

Next Steps

Variability flotation testing on four composites that made up the two development composites will be performed to complete the scoping level metallurgical study.

The combined concentrate of the LCT will be subjected to chemical and mineralogical characterization, which will determine the type and association of the remaining impurities in the graphite concentrate. This information will be used to commence marketing initiatives for La Loutre graphite concentrate.

The current process development program will be completed within the next couple of weeks, and the company commenced work on a preliminary economic assessment (PEA) study.

During the next phase of metallurgical testing, conditions of the existing flowsheet will be optimized to minimize flake degradation and maximize graphite recovery. Further, the optimization will evaluate potential capital and operating cost savings.

The robustness of the optimized flowsheet and conditions will be verified with a larger number of variability samples, and a more comprehensive comminution program will be completed.

Qualified Persons

Mr. Oliver Peters, a Principal Metallurgist with Metpro Management Inc., is a Qualified Person within the meaning of NI 43-101. Mr. Peters is satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information.

Quebec’s Role in The New Green Economy

In 2020, The Quebec Government released the Quebec Plan for Development of Critical and Strategic Minerals (“The Quebec Plan”) which indicates graphite demand would likely increase 300-500% in the coming decades as more is used in the production of spherical graphite for anode portion of Electric Vehicle Lithium-ion batteries. Quebec has an opportunity to play a vital role in reducing carbon emissions and become a key provider of critical battery materials to the North American economy.

For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: This email address is being protected from spambots. You need JavaScript enabled to view it..

On Behalf of the Board,

“A. Paul Gill”
Chief Executive Officer

We Seek Safe Harbour. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

A. Paul Gill
604-729-5312
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Highly skilled veterans bring extensive expertise and experience in industrial chemical engineering, petrochemicals, solids processing, refining and renewable energy

WEST SACRAMENTO, Calif.--(BUSINESS WIRE)--Origin Materials, Inc. (“Origin Materials”), the world’s leading carbon negative materials company, today announced the addition of Mr. Jim Wells, Dr. Ben Freireich, and Dr. Madhu Anand to the company’s technical team.

Origin Materials’ new technical hires will play a key role in leveraging the company’s patented, breakthrough carbon negative platform technology to develop and scale new innovations. Origin Materials believes its technology will help revolutionize the production of a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys and more with a ~1 trillion addressable market.

“I am very pleased to welcome these highly skilled veterans to Origin Materials to further bolster our global technology leadership and capabilities in carbon negative materials,” said John Bissell, Co-Founder and Co-CEO of Origin Materials. “Jim, Ben and Madhu bring deep chemical, energy and solids processing experience to Origin Materials and their technical expertise will play a pivotal role in driving our innovation pipeline to deliver carbon negative solutions to our global customer base across a wide range of product end markets.”

Jim Wells joins Origin Materials as a Technical Director with 39 years of experience in the chemical industry. During his 39-year career at The Dow Chemical Company, Mr. Wells was responsible for developing, designing, building, and starting up industrial chemical plants, leading project teams and developing unique technologies. In January 2018, Mr. Wells retired from Dow as Associate Director of Technology for the Dow AgroScience division. He is a recognized subject matter expert in project management, engineering and manufacturing work processes, reactive chemicals and layer of protection analysis, and solids processing, handling and packaging. Mr. Wells served in the United States Army and graduated from Cornell University with a BS in Chemical Engineering.

Ben Freireich joins Origin Materials as a Technical Fellow with more than a decade of experience in the chemical and process industries. Dr. Freireich comes to Origin Materials as a leading industry expert in both product and process research and development for solid materials. Prior to Origin Materials, Dr. Freireich served as the Technical Director of Particulate Solid Research, Inc. (PSRI) where he led applied process research efforts for a consortium of over thirty multinational corporations. He was previously a Research Scientist in Core R&D at The Dow Chemical Company, where he served as subject matter expert responsible for product and process development over a wide range of businesses, products, and technologies. Dr. Freireich is a specialist in particle technology with expertise in particle design, powder flowability, mixing, fluidization, size enlargement, attrition, and other areas of solids engineering, and has authored chapters of Perry’s Chemical Engineering Handbook. He obtained his PhD in Mechanical Engineering from Purdue University studying manufacturing processes involving solid materials. Dr. Freireich also holds a Master of Science in Engineering from Purdue and graduated from the Milwaukee School of Engineering with a BS in Mechanical Engineering.

Madhu Anand joins Origin Materials as a Technical Director with more than 15 years of experience in the oil and energy industry. Prior to Origin Materials, Dr. Anand held various roles at Phillips 66, most recently serving as Chief Engineer of Hydroprocessing & Naphtha Upgrading, where she played a key role in strategy, technology evaluation and development, product management, joint venture management, and commercial development. Dr. Anand is highly skilled at developing technologies and solving complex problems for the refining, renewables, and petrochemical sectors and is recognized for directing scale-up projects from lab to commercial implementation involving multidisciplinary teams. She completed her PhD in Chemical Engineering from Auburn University, where she received the 2007 Outstanding Graduate Award for excellence in research, and graduated from Panjab University in India with a BS in Chemical Engineering.

About Origin Materials
Headquartered in West Sacramento, Origin Materials is the world's leading carbon negative materials company. Origin Materials’ mission is to enable the world’s transition to sustainable materials. Over the past 10 years, Origin Materials has developed a platform for turning the carbon found in non-food biomass into useful materials, while capturing carbon in the process. Origin Materials’ patented drop-in core technology, economics and carbon impact have been validated by trusted third parties and are supported by a growing list of major global customers and investors. Origin Materials’ first plant is expected to be operational in 2022 with a second, full-scale commercial plant expected to be operational by 2025 and plans for additional expansion over the next decade.

On February 17, 2021, Origin Materials and Artius Acquisition Inc. (“Artius”) (Nasdaq: AACQU, AACQ), a publicly-traded special purpose acquisition company, announced a definitive agreement for a business combination that will result in Origin Materials becoming a public company. Upon closing of the transaction, expected in the second quarter of 2021, the combined company will be named Origin Materials and remain listed on the Nasdaq under the new ticker symbol “ORGN.” The transaction is expected to fully fund Origin Materials until EBITDA positive, and allows Origin Materials to scale and commence commercial production to meet signed customer offtake and capacity reservations of ~$1 billion across a diverse range of industries.

For more information, visit www.originmaterials.com.

Important Information for Investors and Stockholders
In connection with the proposed business combination transaction, Artius filed a registration statement on Form S-4 (the “Registration Statement”) with the SEC on March 9, 2021, which includes a preliminary proxy statement to be distributed to holders of Artius’s ordinary shares in connection with Artius’s solicitation of proxies for the vote by Artius’s stockholders with respect to the proposed transaction and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of securities to be issued to Artius’s and Origin Materials’ stockholders in connection with the proposed transaction. After the Registration Statement has been declared effective, Artius will mail a definitive proxy statement, when available, to its stockholders. Investors and security holders and other interested parties are urged to read the proxy statement/prospectus, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about Artius, Origin Materials and the proposed transaction. The documents relating to the proposed transaction (when they are available) can be obtained free of charge from the SEC’s website at www.sec.gov. Free copies of these documents, once available, may also be obtained from Artius by directing a request to: Artius Management LLC, 3 Columbus Circle, Suite 2215 New York, New York 10019.

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

Participants in the Solicitation
Artius, Origin Materials and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from Artius’s shareholders in connection with the proposed business combination. Information about Artius’s directors and executive officers and their ownership of Artius’s securities is set forth in the Registration Statement described above. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading other documents Artius has filed, or will file, with the SEC regarding the proposed business combination, including the definitive proxy statement when it becomes available.

Non-Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Artius, the combined company or Origin Materials, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

Investors:
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Global prize fund of US$3 million to amplify impact of winners in Health, Food, Energy, Water and Global High Schools categories

ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--With one month to go until the 6^th of May submissions deadline, the Zayed Sustainability Prize, the UAE’s pioneering global award for rewarding impact, innovation, and inspiration, has today issued a final call to small-to-medium sized enterprises, non-profit organisations and high schools, around the world, to submit their entries for the 2022 edition.

Inspired by the sustainable development and humanitarian legacy of the UAE’s founding father, Sheikh Zayed bin Sultan Al Nahyan, the Prize is now in its 14^th submissions cycle after officially opening on 18^th November 2020. The Prize has since recognised 86 winners whose solutions or school projects have, directly and indirectly, positively transformed the lives of more than 352 million people, worldwide.

Small-to-medium sized enterprises and non-profit organisations must enter an existing sustainability solution in one of the Health, Food, Energy, or Water categories, and demonstrate results across three core criteria: impact, innovation, and inspiration. The Global High Schools category invites student-led projects or proposals, based on one or more of the four sustainability sectors, and provides funding to help develop or enhance their school or local community.

Commenting on this year’s submissions process, H.E Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Director General of the Zayed Sustainability Prize said: “The Zayed Sustainability Prize focuses on contributing to the vision of the UAE’s wise leadership in terms of encouraging and driving innovation to develop practical solutions that enhance the quality of life for communities throughout the world. The Prize also announced that the 2022 cycle would be placing notable emphasis on innovation as one of the key drivers for COVID-19 response and recovery, creating synergies between vital sustainable solutions and their ability to play a role in empowering communities, while alleviating the socio-economic implications of the pandemic.”

“As the world unites around progressive climate action in the run up to COP26, sustainable solutions are growing in prominence, as they reinforce the commitment and responsibility of current generations towards the future while paving the way for greater economic opportunities. For its part, the Prize will continue to showcase and recognise the sustainable innovations that effectively tackle climate change action and beyond.”

The Prize’s US$3 million annual fund rewards winners US$600,000 in each category; the Global High Schools category is split into six world region winners, with each school able to claim up to US$100,000 to start or further expand their project. The six world regions of the Global High Schools category are The Americas, Sub-Saharan Africa, Middle East & North Africa, Europe & Central Asia, South Asia, and East Asia & Pacific.

Winners will be announced in 2022 during an Awards Ceremony as part of the Abu Dhabi Sustainability Week (ADSW). More details will be shared in the coming months.

To apply today, visit www.ZayedSustainabilityPrize.com

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.

For over a decade, the Prize has awarded 86 winners. Collectively, they have directly and indirectly, positively impacted the lives of over 335 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

Medhat Juma
Hill+Knowlton Strategies
T: +971 561399482
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Erika Spagakou
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Li-Cycle continues to build technology presence in United States with granted patents from the U.S. Patent and Trademark Office relating to the processing and recovery of critical, finite materials from lithium-ion batteries

TORONTO--(BUSINESS WIRE)--Li-Cycle Corp. (“Li-Cycle” or the “Company”), an industry leader in lithium-ion battery resource recovery and the largest lithium-ion battery recycler in North America, today announced that the U.S. Patent and Trademark Office (“USPTO”) has granted it two utility patents, No. 10,919,046 and No. 10,960,403, which further strengthen Li-Cycle’s IP position in the U.S. and as a technology leader.

Li-Cycle is a technology-focused business and receiving these patents demonstrates the Company’s strong technology position in the U.S. market. The Company has a robust and growing patent portfolio, with a focus on innovation, research and development, as well as continued commercialization of its proprietary battery recycling technology.

"We are very excited to announce that the USPTO has granted us two utility patents, as these mark another significant step forward for Li-Cycle and further reinforce our IP position in the North American market and in turn, globally,” said Tim Johnston, Co-Founder and Executive Chairman of Li-Cycle. “At its core, Li-Cycle is a technology company, and we will continue to innovate as the leader in sustainable processing and recovery of critical, finite materials from lithium-ion batteries to reintroduce them back into the economy and close the supply chain loop. Technology development and commercialization will continue to remain of paramount focus for our business as we scale globally.”

These recently granted patents No. 10,919,046 and No. 10,960,403, in combination with Li-Cycle's related, pending U.S. patent publication nos. US2020/0078796, US2021/0078013, and US2021/0078012, strengthen Li-Cycle’s intellectual property position in the United States in relation to the processing and recovery of critical, finite materials from lithium-ion batteries.

The imperative for economically and environmentally sustainable resource recovery and recycling is growing in lockstep with the rapid growth of battery manufacturing. Li-Cycle utilizes its patented Spoke & Hub Technologies™ to achieve the industry-leading recovery rate and to produce the critical battery materials underpinning the global growth in electric vehicle production. Legacy recycling technologies have largely relied on thermal operations, which can emit harmful emissions and result in lower recovery rates. Li-Cycle’s Spoke & Hub Technologies™ achieve up to 95% resource mass recovery. The Company’s two-stage battery recycling model enables customers to benefit from a safe and environmentally friendly solution for recycling all types of lithium-ion battery materials.

On February 16, 2021, Li-Cycle announced its entry into a definitive business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC) (“Peridot”). Upon the closing of the business combination, which is expected in the second quarter of 2021, the combined company will be named Li-Cycle Holdings Corp. Li-Cycle intends to apply to list the common shares of the combined company on the New York Stock Exchange under the new ticker symbol, “LICY.”

About Li-Cycle Corp.

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

ADDITIONAL INFORMATION AND WHERE TO FIND IT

In connection with the proposed transaction involving Li-Cycle and Peridot, Li-Cycle Holdings Corp. (“Newco”) has prepared and filed with the SEC a registration statement on Form F-4 that includes both a prospectus of Newco and a proxy statement of Peridot (the “Proxy Statement/Prospectus”). Once effective, Peridot will mail the Proxy Statement/Prospectus to its shareholders and file other documents regarding the proposed transaction with the SEC. This communication is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other documents Peridot or Newco may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE, ANY AMENDMENTS OR SUPPLEMENTS TO THE PROXY STATEMENT/PROSPECTUS, AND OTHER DOCUMENTS FILED BY PERIDOT OR NEWCO WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus and other documents filed with the SEC by Peridot or Newco through the website maintained by the SEC at www.sec.gov.

Investors and securityholders will also be able to obtain free copies of the documents filed by Peridot and/or Newco with the SEC on Peridot’s website at www.peridotspac.com or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

PARTICIPANTS IN THE SOLICITATION

Li-Cycle, Peridot, Newco, and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, are set forth in the Proxy Statement/Prospectus. Information regarding the directors and executive officers of Peridot is contained in Peridot’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 26, 2021 and certain of its Current Reports filed on Form 8-K. These documents can be obtained free of charge from the sources indicated above.

NO OFFER OR SOLICITATION

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities of Peridot or Newco or a solicitation of any vote or approval. 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.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained in this communication may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21 of the Securities Exchange Act of 1934, as amended, including statements regarding the proposed transaction involving Li-Cycle and Peridot and the ability to consummate the proposed transaction. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely”, “believe,” “estimate,” “project,” “intend,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the risk that the conditions to the closing of the proposed transaction are not satisfied, including the failure to timely or at all obtain shareholder approval for the proposed transaction or the failure to timely or at all obtain any required regulatory clearances, including under the Hart-Scott Rodino Antitrust Improvements Act; (ii) uncertainties as to the timing of the consummation of the proposed transaction and the ability of each of Li-Cycle and Peridot to consummate the proposed transaction; (iii) the possibility that other anticipated benefits of the proposed transaction will not be realized, and the anticipated tax treatment of the combination; (iv) the occurrence of any event that could give rise to termination of the proposed transaction; (v) the risk that stockholder litigation in connection with the proposed transaction or other settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (vi) changes in general economic and/or industry specific conditions; (vii) possible disruptions from the proposed transaction that could harm Li-Cycle’s business; (viii) the ability of Li-Cycle to retain, attract and hire key personnel; (ix) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed transaction that could affect Li-Cycle’s financial performance; (xi) legislative, regulatory and economic developments; (xii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; and (xiii) other risk factors as detailed from time to time in Peridot’s reports filed with the SEC, including Peridot’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. The foregoing list of important factors is not exclusive. Neither Li-Cycle nor Peridot can give any assurance that the conditions to the proposed transaction will be satisfied. Except as required by applicable law, neither Li-Cycle nor Peridot undertakes any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

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LIVONIA, Mich.--(BUSINESS WIRE)--Despite the challenges of a pandemic and global financial crisis, utilities are easier to work with than ever, as Cogent Syndicated’s Customer Effort Index increases to 738 (on a 1,000-point scale). Obtaining phone service, making payments and acquiring outage information have improved the most among the customer touchpoints measured in the study. Based upon this index, 38 utilities stand out as being “easiest to do business with” among 140 of the largest utility companies in the US. These and other findings are from the Cogent Syndicated 2021 Utility Trusted Brand & Customer Engagement™: Residential study by Escalent, a top human behavior and analytics firm.

Being easier to work with has led to a significant increase in utility customer satisfaction as well, as the Customer Effort Index explains over 90% of overall satisfaction.

“Utilities continued making it easier for customers to do business with them, which is the sole reason customer satisfaction is also at all-time highs,” said Chris Oberle, senior vice president at Escalent. “Being easier to work with is leading to increased customer engagement and increased use of enhanced utility offerings.”

The highest-rated customer touchpoints are ease of interacting through utility websites and mobile access. Customers transacting with their utility through digital means have found it easy to navigate and resolve service issues.

“Utilities are doing a fantastic job satisfying customers. As more customers used digital service this year, they found it easy to transact, showing how the industry is quickly becoming a leader on the digital experience,” continued Oberle. “Our list of utilities that are easiest to do business with are also perceived as leaders on industry innovation and technology.”

The following is a list of 38 utilities Escalent has designated as being the “2021 Easiest to Do Business With” based upon their top performances on Cogent Syndicated’s utility Customer Effort Index. The utilities reflect best practices in making customer lives easier during trying times.

Index scores based upon 1,000-point maximum scale

About Utility Trusted Brand & Customer Engagement™: Residential

Escalent conducted surveys among 74,224 residential electric, natural gas and combination utility customers of the 140 largest US utility companies (based on residential customer counts). The sample design uses a combination of quotas and weighting based on US census data to ensure a demographically balanced sample of each evaluated utility’s customers based on age, gender, income, race and ethnicity. Utilities within the same region and of the same type (e.g., electric-only providers) are given equal weight to balance the influence of each utility’s customers on survey results. Escalent will supply the exact wording of any survey question upon request.

About Escalent

Escalent is a top human behavior and analytics firm specializing in industries facing disruption and business transformation. As catalysts of progress for more than 40 years, we tell stories that transform data and insight into a profound understanding of what drives human beings. And we help businesses turn those drivers into actions that build brands, enhance customer experiences and inspire product innovation. Visit escalent.co to see how we are helping shape the brands that are reshaping the world.

Sarah Keller, 734.779.6847
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