CALGARY, Alberta--(BUSINESS WIRE)--#ESG--Orennia Inc. (Orennia), a leading technology platform that provides data, analytics and insights to key players in the energy transition sector, announces one of its newest partnerships with cutting-edge energy storage integrator FlexGen.

FlexGen and Orennia were first connected from an industry-leading research report that Orennia published highlighting top-performing battery storage assets. FlexGen will deploy Orennia’s proprietary analytics to improve its market intelligence on developer strategies, allowing its clients to perform better in the complex and rapidly changing battery storage market. FlexGen’s strategy, which focuses on bringing the most robust controls and energy storage capabilities to power markets across the US, aligns with Orennia’s mission to accelerate the energy transition by helping our clients increase investment returns.

Orennia provides an all-in-one platform to help sophisticated investors in the energy transition, renewables and decarbonization sectors uncover and execute on the best investment opportunities. Orennia continues to expand its market presence among asset owners, operators, project developers, and capital providers - giving them capability to outcompete their peers.

“We are excited to be working with such a forward-thinking and innovative company like FlexGen,” said Brook Papau, chief executive officer of Orennia. “Our platform is designed to help companies identify unique insights to make more efficient capital allocation decisions. We are looking forward to supporting FlexGen as they continue to grow their strong market position.”

“Partnering with Orennia and having access to their analytics in the battery storage market across the US provides the FlexGen team with the unique insights we need as we ramp up our go-to-market strategy,” said Yann Brandt, chief commercial officer of FlexGen. “Leveraging their platform and seeing performance across existing energy storage assets highlights the track record that FlexGen has and increases our competitive advantage in the battery storage space.”

About Orennia Inc.

Orennia provides trusted commercial analytics to help inform investment and capital allocation decisions for energy transition spaces. Orennia’s insights, curated by highly experienced industry experts, help capital allocators in power and renewable, decarbonization and energy transition sectors make confident investment decisions and accelerate their time-to-value. To learn more, visit www.orennia.com.

About FlexGen

Based in Durham, N.C., FlexGen is a leading integration services and software technology provider for energy storage solutions in the United States and globally. FlexGen designs and integrates storage solutions and the software platform that is enabling today’s energy transition. Leveraging its best-in-class energy management software and power electronics, FlexGen delivers utility-scale storage projects integrated with traditional and renewable power generation globally. Our clients and partners include the most technically and commercially demanding developers, utilities, cooperatives, government agencies and industrial companies in the world. To learn more, please visit www.flexgen.com.

Christina Hong, Aspectus Group
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DUBLIN--(BUSINESS WIRE)--The "Yacht Charter Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global yacht charter market is expected to grow from $12.13 billion in 2021 to $13.39 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The yacht charter market is expected to grow to $19.29 billion in 2026 at a compound annual growth rate (CAGR) of 9.5%.

The main types of yacht charter are motorized yachts, sailing yachts, and other types. A sailing yacht refers to a small boat that uses wind power to propel it forward. The contract includes bareboat charter, and crewed charter. The various sizes include large, medium, and small and are used in vacation or leisure, sailing, and other applications.

Europe was the largest region in the yacht charter market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in yacht charter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing popularity of luxury marine tourism is expected to propel the growth of the yacht charter market going forward. Marine tourism refers to leisure endeavors entailing travel away from one's home and having the marine environment as their host or main focus. Yacht charters are widely used as a premium form of marine tourism for luxurious and tremendous experiences. For instance, in 2019, according to India.com, an India-based news portal, the luxury cruise tourism, the industry has seen a 50% increase in growth. The total number of cruise calls on Chennai, Cochin, Mumbai, Mangalore, and Mormugao was 285 in 2019 and is expected to climb to 593 in 2020. Therefore, the growing popularity of luxury marine tourism is driving the growth of the yacht charter market.

Product innovations are a key trend gaining popularity in the yacht charter market. Major companies operating in the yacht charter market are focused on developing new product innovation solutions to strengthen their position in the market. For instance, in April 2022, Sunseeker, a UK-based luxury motor yacht manufacturer, launched a 30m Sunseeker 100 that started a new era in flybridge design and functionality for the British yard. This was the first 29.85-meter sunseeker consisting of unique entertainment features at the fore, the sweeping flybridge, with complete walk-around access from bow to stern, which is one of the exceptional entertainment areas that define the 100 Yacht.

Scope

Markets Covered:

1) By Type: Motorized Yacht; Sailing Yacht; Other Types

2) By Contract: Bareboat Charter; Crewed Charter

3) By Size: Large; Medium; Small

4) By Application: Vacation/ Leisure; Sailing; Other Applications

Key Topics Covered:

1. Executive Summary

2. Yacht Charter Market Characteristics

3. Yacht Charter Market Trends And Strategies

4. Impact Of COVID-19 On Yacht Charter

5. Yacht Charter Market Size And Growth

6. Yacht Charter Market Segmentation

7. Yacht Charter Market Regional And Country Analysis

8. Asia-Pacific Yacht Charter Market

9. China Yacht Charter Market

10. India Yacht Charter Market

11. Japan Yacht Charter Market

12. Australia Yacht Charter Market

13. Indonesia Yacht Charter Market

14. South Korea Yacht Charter Market

15. Western Europe Yacht Charter Market

16. UK Yacht Charter Market

17. Germany Yacht Charter Market

18. France Yacht Charter Market

19. Eastern Europe Yacht Charter Market

20. Russia Yacht Charter Market

21. North America Yacht Charter Market

22. USA Yacht Charter Market

23. South America Yacht Charter Market

24. Brazil Yacht Charter Market

25. Middle East Yacht Charter Market

26. Africa Yacht Charter Market

27. Yacht Charter Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Yacht Charter Market

29. Yacht Charter Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

• Northrop & Johnson
• Yachtico Inc.
• Sailogy S.A.
• Burgess
• Princess Yacht Charter

For more information about this report visit https://www.researchandmarkets.com/r/5mu9dv

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Operational support services to optimize oil and gas production efficiency, reduce energy consumption and emissions

STAVANGER, Norway--(BUSINESS WIRE)--Emerson (NYSE: EMR), a global software and engineering leader, has signed a five-year framework agreement with Equinor to provide operational support services to ensure continued safe and optimized oil and gas production from its pioneering Martin Linge platform in the Norwegian North Sea. The service agreement, which includes options for three additional five-year periods, covers maintenance and upgrades of the control technology, software and instrumentation. These technologies are helping to accelerate carbon-efficient production and empower remote operation from onshore for increased worker safety and reduced operating costs.

Martin Linge is a significant development for Norwegian oil and gas production, with expected recoverable resources of around 260 million barrels of oil equivalent. Emerson’s technology, project expertise and global resources were crucial in helping achieve first oil safely, and with the award of this service contract, Equinor gains continued support to optimize production, reduce energy consumption and emissions, and maximize the potential of the Martin Linge development.

Martin Linge, situated 42 kilometres west of Oseberg, was the first platform on the Norwegian continental shelf to be started up from shore. The 63 billion Norwegian krone (USD 7.3 billion) mega-project includes a production platform and a permanently anchored floating storage and offloading (FSO) vessel. These facilities are powered from onshore via the world’s longest alternating-current sea cable, helping to reduce CO₂ emissions by 200,000 tonnes per year. Oil is processed on the FSO vessel before being transported in shuttle tankers to the global market, while gas is transported via pipeline to St. Fergus, Scotland.

“With proven automation technologies, collaborative work practices and extensive experience, Emerson is the ideal choice for a trusted partner on energy industry projects of this scale and magnitude,” said Mark Bulanda, executive president of Emerson’s Automation Solutions business. “With this service agreement, we look forward to helping Equinor achieve continued safe and carbon efficient production.”

The award of the service agreement follows Emerson’s implementation of a complete automation solution for the project, which incorporates the company’s DeltaV^™ distributed control system; advanced wired and wireless measurement instrumentation; critical control, emergency shutdown and isolation valves; metering technology and asset management software. This technology enables both the platform and the FSO vessel to be mainly operated from an onshore control room in Stavanger, with offshore operators able to access the control system interface via mobile handheld devices, resulting in increased worker flexibility and efficiency. Controlling the production facilities in this manner enables three shifts of operators to work from onshore rather than offshore, reducing risk to personnel and minimizing costs.

Emerson’s cloud engineering services and digital twin technology, played a crucial role in the successful delivery of the project and first oil being safely achieved. The company’s Remote Virtual Office (RVO) platform enabled project personnel around the world to collaborate securely in a virtual engineering, commissioning and testing environment, regardless of their location. This not only reduced travel requirements – which was vital due to COVID-19 restrictions – but also had a significant impact on project schedule, risk and costs. Emerson’s digital twin technology also enabled significant project and operational benefits such as streamlining commissioning of the control system, helping Equinor train its operators to experience real-life scenarios before the control system went live, and make continued improvements that help to optimize production, and reduce energy consumption and emissions.

Additional resources:

• Join the Emerson Exchange 365 Community
• Connect with Emerson via Twitter Facebook LinkedIn YouTube

About Emerson

Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world’s most essential industries. Emerson is an automation leader that helps process, hybrid and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals through its unmatched automation portfolio, including its majority stake in AspenTech. For more information, visit Emerson.com.

For Emerson
Denise Clarke
512-587-5879
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CEO Bryan Sansbury Selected as Winner of Leadership, Small Company Category

THE WOODLANDS, Texas--(BUSINESS WIRE)--AEGIS Hedging Solutions (“AEGIS”) has been awarded as a Top Workplaces 2022 honoree by the Houston Chronicle – coming in at #4 out of 155 small-sized companies across the Greater Houston area. AEGIS CEO, Bryan Sansbury was also recognized as winner of the Leadership, Small Company category for his achievements in leadership, values, communication and work/life balance.

The Top Workplaces 2022 list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The confidential survey uniquely measures 15 culture drivers that are critical to the success of any organization, including alignment, execution, and connection.

“Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees,” said Eric Rubino, Energage CEO. “That’s something to be proud of. In today’s market, leaders must ensure they’re allowing employees to have a voice and be heard. That’s paramount. Top Workplaces do this, and it pays dividends.”

“These recognitions are a tremendous honor -- and a testament to every person who has helped to build and shape AEGIS. We hustle, dare to do things others won’t, leave it all on the field, and raise people up. Our team members differentiate us and take care to make sure each person is well-informed and positioned to move us forward. With this team and a world-class set of customers, it is easy to know we will be even better tomorrow,” said Bryan Sansbury, AEGIS CEO.

ABOUT AEGIS

AEGIS simplifies commodity and environmental markets for companies serious about managing their commodity exposures and/or emission footprints. AEGIS has unmatched technology and expertise to deliver market insights, tailored hedge strategies, efficient and compliant trade execution, and full-cycle management of hedge positions. Building on its core energy hedging capabilities, AEGIS has extended its expertise into environmental and metals markets and built a fully-integrated SaaS E/CTRM software platform. AEGIS was recently named the industry leader in hedging solutions for a sixth consecutive year and a Top 5 Workplace. AEGIS is headquartered in The Woodlands, Texas. To learn more, visit AEGIS' website at www.aegis-hedging.com.

ABOUT ENERGAGE

Making the world a better place to work together.^TM

Energage is a purpose-driven company that helps organizations turn employee feedback into useful business intelligence and credible employer recognition through Top Workplaces. Built on 16 years of culture research and the results from 27 million employees surveyed across more than 70,000 organizations, Energage delivers the most accurate competitive benchmark available. With access to a unique combination of patented analytic tools and expert guidance, Energage customers lead the competition with an engaged workforce and an opportunity to gain recognition for their people-first approach to culture. For more information or to nominate your organization, visit energage.com or topworkplaces.com.

AEGIS Hedging Solutions
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https://aegis-hedging.com/

Latest version of aspenONE^® helps customers achieve new levels of efficiencies while accelerating progress toward Net Zero goals

BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in industrial software, today announced the availability of its latest aspenONE^® software release, V14. The new release delivers advanced intelligence and guidance capabilities that improve decision-making abilities and further boost operational excellence. In addition, V14 enables customers to accelerate sustainability projects with more than 100 sample models and to manage Scope 1 and 2 emissions for reducing carbon footprints.

“It’s a critical time for companies to optimize efficiency and sustainability across their operations,” said David Arbeitel, Senior Vice President of Products at AspenTech. “Our customers are uniquely positioned to support the dual challenge of meeting the increasing demand from a growing population in a more sustainable way. The new capabilities in V14 will help customers streamline progress toward sustainability goals and operational excellence for stronger business outcomes.”

Accelerate Progress Toward Net Zero Goals
aspenONE V14 includes more than 100 sustainability sample models to jumpstart progress in the areas of emissions management, hydrogen economy, carbon capture, materials circularity, bio-based feedstocks and renewable energy. V14 automates CO2 emissions data collection from multiple sources for decarbonization compliance/reporting and enables customers to model these emissions in operations to achieve sustainability targets.

Achieve New Levels of Operational Excellence
A key value delivered by the V14 release is enhanced operational decision-making. With two new offerings – Aspen Virtual Advisor (AVA) for DMC3 and Aspen Unified Reconciliation and Accounting (AURA) – plus new capabilities and multiple enhanced integrations between existing solutions, the new release provides actionable guidance/real-time augmented intelligence and prioritizes anomaly and failure alerts based on severity and operational risk. In addition, V14 minimizes material losses with fast, efficient mass and volume balance and evaluates planned downtime options to enable better decisions that minimize impact on production and order commitments.

Industry Analyst Perspective
"AspenTech’s new release of V14 shows a commitment to innovation with new software to accelerate customers’ sustainability programs,” said Peter Reynolds, Principal Analyst, ARC Advisory Group. “With progress to further unify planning, scheduling, production accounting and maintenance functions, users can break down silos and extract more value from software. AspenTech is demonstrating industry leadership by adding unique AI capabilities with the application of cognitive analytics to address age-old issues with knowledge transfer and operator acceptance of systems like Advanced Process Control."

The newest release of aspenONE V14 software is currently available. To learn about all new products and capabilities, visit our release page.

About AspenTech
Aspen Technology, Inc. (NASDAQ: AZPN) is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in capital-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.

© 2022 Aspen Technology, Inc., AspenTech, aspenONE® and the Aspen leaf logo are trademarks of Aspen Technology, Inc. All rights reserved.

Media Contact
Stephanie Jackman
AspenTech
+1 781-221-1965
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Almond Industry Will Benefit From a Much-Needed Climate-Controlled Facility

IRVINGTON, N.Y.--(BUSINESS WIRE)--X-Caliber Capital, a national, direct commercial real estate lender focused on impact lending, announced its affiliate companies, X-Caliber Rural Capital (XRC) and CastleGreen Finance (CastleGreen), closed a $52MM combined transaction for the new construction of Origo Cold Storage, a California-based 254,000 square-foot cold storage almond facility. XRC provided $35MM through the USDA’s Food Supply Chain Program and CastleGreen provided $17MM of Commercial Property Assessed Clean Energy (C-PACE) financing through the California Statewide Communities Development Authority PACE Program.

X-Caliber Capital is the only lender in the country that can offer the powerful combination of long-term, competitive financing, leveraging both C-PACE and USDA loans under one roof. The loan was originated by X-Caliber Capital’s Executive Managing Director, Mike Hammond.

Origo Cold Storage is designed to save the borrower a total of $3.7 million over the lifetime of the improvements through reducing electricity usage by 138,909 KWh/yr, saving 11,462 gallons of water annually and reducing CO2 emissions by 98 MT/yr.

The new facility is projected to be completed by April 2023 and is expected to create up to 10 new full-time jobs.

“We are pleased to provide long-term financing for a much-needed facility to the robust almond growing industry,” says Jordan Blanchard, X-Caliber Rural Capital Co-Founder and Executive Manager. “The combination of this USDA Food Supply Chain Loan plus C-PACE financing provides a competitive lending solution that supports energy efficiency, the creation of permanent jobs and overall economic growth in the Madera community.”

Almonds are harvested within a three-month period and require storage until they are used by processors. The new facility’s financing supports a unique pairing of competitive loan terms, cost savings, and environmental sustainability.

“CastleGreen is pleased to participate in this project that allows C-PACE to double down on community benefits by helping promote environmental and food supply chain advantages,” said Sal Tarsia, Managing Partner at CastleGreen Finance. “The state-of-the-art facility will incorporate features that significantly reduce greenhouse gas emissions, decrease water and energy consumption, and passes along substantial cost savings to the borrower.”

The C-PACE funds will be used for various energy efficiency and resiliency improvements to be installed on site.

C-PACE financing provides property owners funding to finance projects that include energy efficiency, renewable energy, water conservation, and seismic improvements. The unique C-PACE financing is only administered through C-PACE-approved lenders and allows borrowers to pay it back over time through a voluntary tax assessment that provides a long-term, low-cost financing option coupled with the ability to transfer repayment to the next owner.

USDA loans offer innovative solutions to eligible borrowers in rural areas with competitive terms through five, dedicated, flagship programs that support infrastructure improvements, business expansion, community facilities, public safety, renewable energy, and more, with the goal of increasing private investment in rural America. A rural area is defined as primarily serving rural areas with populations of 50,000 residents or less based on the last census and not contiguous with an adjacent populated area.

Through the Food Supply Chain Guaranteed Loan Program, USDA has partnered with lenders to guarantee loans of up to $40 million to help eligible entities expand meat and poultry processing capacity and finance other food supply chain infrastructure. Lenders may provide the loans to eligible cooperatives, corporations, for profits, nonprofits, Tribal communities, public bodies and people in rural and urban areas.

About X-Caliber –www.x-calibercap.com

X-Caliber Capital is a nationally recognized direct commercial mortgage lender and loan servicer. We are an FHA-approved Multifamily Accelerated Processing (MAP) lender and GNMA- approved MBS issuer, and together with our affiliates, provide bridge, USDA, and C-PACE finance solutions.

We strive to deliver to our clients, and to the communities in which we lend, the best financing solutions available to support their business goals, while focusing on some of the nation’s greatest challenges – affordable housing, the environment, care for our seniors, and rural businesses. By leveraging the most effective private and government programs in the country, we can harness the power of our expertise and practice the values for which we stand – so we can make the world a better place for all.

About CastleGreen Finance –www.castlegreenfinance.com

CastleGreen Finance is a private capital source focused on Commercial PACE (Property Assessed Clean Energy) financing. CastleGreen brings experience in commercial real estate across a broad range of financial disciplines. The real estate experience of the CastleGreen team, combined with its core C-PACE capabilities, provides its clients with the knowledge and resources to create a superior capital stack that meets all its needs and helps to unlock the potential of their commercial real estate. We understand that the most important part of any real estate transaction is showing up with the capital at closing. Our team focuses on the details of every deal to ensure we can get our clients to the finish line.

About X-Caliber Rural Capital - www.xrcusda.com

X-Caliber Rural Capital is an affiliate of X-Caliber Capital, a national, licensed and approved U.S. Department of Agriculture lender that provides financing for rural business and economic development projects through five flagship programs that fall under the OneRD Guarantee Loan Initiative. The Company is dedicated to creating attractive solutions for its borrowers that meet the needs of rural communities throughout the country.

About Origo Investments – www.origoinvestments.com

Origo Investments is an alternative investment platform focused on thematic real estate opportunities that deliver defensive, long-term, inflation adjusted income for institutional clients and family offices. Origo Cold Storage delivers secure, temperature / humidity controlled, and FDA compliant storage facilities for growers and processors at the start of the critical food supply chain.

Media:
Bonnie Habyan
914.815.9806
Chief Marketing Officer

Legal expert to help drive business transformation as the mobile energy company continues to grow and scale operations

SAN MATEO, Calif.--(BUSINESS WIRE)--Booster®, a leading tech-driven mobile energy delivery company, announces the appointment of Shenna Bradshaw as its new Vice President, Legal. Bradshaw, a former senior leader at Motiva Enterprises LLC, joins the company during a time of increasing enterprise demand and expansion to lead Booster’s in-house legal team.

“As Booster continues to evolve — growing into new markets, expanding our service offerings, and revolutionizing energy delivery — Shenna will help guide the legal considerations around our governance and operations,” said Frank Mycroft, Booster CEO and co-founder. “Shenna’s leadership ability and extensive experience in business transformation and corporate growth will be key to supporting Booster as we continue to scale and build on our strong momentum.”

Bradshaw will spearhead Booster’s legal department, curating strategic advice and bringing legal depth to the organization. She will also work closely with Booster’s policy team to help drive public policy initiatives.

“At this critical point in the global movement for decarbonization and push for increasingly sustainable energy practices, I am excited to join and support Booster as it continues its mission of accelerating the energy transition through mobile fueling,” Bradshaw said. “I look forward to collaborating with Booster’s senior leaders to help generate progress as the company continues to grow and scale its operations.”

Bradshaw joins Booster during a time of sustained growth. Earlier this year, the company appointed three new vice presidents and rounded out its C-suite by hiring Amazon veteran Andrew Hamel as its new Chief Technology Officer.

Bradshaw brings nearly two decades of legal experience to Booster, most recently serving as Vice President of Business Transformation at Motiva, where she led a cross-functional team of experts to execute compliance, contracting, knowledge management and continuous improvement initiatives. Bradshaw earned her Juris Doctor from the University of Missouri-Kansas City School of Law and is a retired Captain of the U.S. Army Reserves.

Editor’s Notes

• Earlier this month, Booster was announced as a 2022 “Best Tech for Good” Finalist.
• Looking for images and company information? Download the Booster Media Kit and a headshot of Shenna Bradshaw.
• We’re hiring! Join the Booster team.

About Booster

Booster is a tech-driven mobile energy delivery company on a mission to fuel the energy transition. Headquartered in San Mateo, California, Booster delivers conventional and renewable fuels directly to fleet vehicles nationwide, lowering carbon emissions, reducing costs, and providing access to renewable fuels. At a time when the urgent desire to transition to a more sustainable energy future is far outpacing the development of infrastructure, Booster provides a critical solution for Amazon, Imperfect Foods, UPS, and hundreds of other customers — no filling stations, truck stops, or off-route trips required. For more information, visit boosterusa.com or connect with us on LinkedIn, Twitter, Facebook, and Instagram.

Booster Media Contacts:
Melina Vissat, Senior Director of Communications
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Grace Dearnley, Communications Manager
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Media Hotline: (408) 560-7434

LOS ANGELES--(BUSINESS WIRE)--#driveh2--Via Care Community Health Centers has received the donation of a Toyota Mirai Hydrogen Fuel Cell EV as part of the DriveH2.org public service initiative by Energy Independence Now (EIN), an environmental non-profit organization dedicated to advancing fuel cell electric vehicles and renewable hydrogen infrastructure for transportation, renewable energy storage and industrial decarbonization.

A community-based non-profit organization, Via Care provides caring, affordable, accessible and quality healthcare to among the poorest in Los Angeles. The car donated by DriveH2 will enable the Via Care team to make critical patient visits and prescription deliveries to those with transportation challenges – and with zero toxic emissions.

The Toyota Mirai converts hydrogen to electricity in an advanced fuel cell, leaving clean water as the only tailpipe emission. With a refueling time of just 3-5 minutes, the Mirai can travel more than 300 miles on a single tank of hydrogen.

“The donation of this remarkable vehicle immediately allows us to expand our pharmacy and patient visit care services,” said Deborah Villar, CEO. “With the addition of free home delivery of prescriptions for our patients, this will ensure those in the greatest need will experience no delay in receiving their medication. This donation further strengthens and supports Via Care’s commitment to the individuals and families we care for.”

“We’re delighted to donate this Hydrogen Fuel Cell EV to Via Care,” said Brian Goldstein, CEO of DriveH2.org. “This donation is already having an amazing impact on the community, delivering vital medical resources to those most in need while helping one of our nonprofit partners to fulfill its mission in a sustainable manner. The DriveH2.org Mirai Donation Program is raising awareness about zero-emission hydrogen technology that offers quick, communal fueling by placing these vehicles in service to the communities that are hit hardest by air pollution and climate change. We’re incredibly thankful for Toyota’s support as we continue fighting for clean air and healthier communities.”

The DriveH2.org program has also made Hydrogen Fuel Cell EV donations to nonprofits including the American Red Cross, Petersen Automotive Museum, Social Justice Learning Institute, ThinkWatts LA, and After-School All-Stars.

DriveH2 is a public service initiative by Energy Independence Now, an environmental non-profit dedicated to advancing fuel cell electric vehicles and renewable hydrogen infrastructure for transportation, renewable energy storage and industrial decarbonization. The organization engages in comprehensive research, policy advocacy and public outreach to promote the widespread adoption of a diverse zero emissions portfolio. Learn more at driveh2.org.

Via Care is a non-profit Federally Qualified Health Center formed to provide exceptional care to patients in our service area throughout their lives. Via Care’s mission is to support and uphold the community’s right to health by providing quality, equitable & comprehensive care. Learn more at viacarela.org.

​EDITOR’S NOTE
You can view and share the official video here.
Spanish language version of this press release is available here.

Media Contact:
Paul Williams
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310/569-0023

Leading integrated solar and storage service provider expands capabilities with origination and offtake expertise

DURHAM, N.C.--(BUSINESS WIRE)--Strata Clean Energy (Strata), a nationwide provider of utility-scale clean energy projects, today announced its acquisition of Phoenix-based Crossover Energy Partners (Crossover), a clean energy solutions company experienced in developing end-to-end energy transition products for utilities and large energy users. This acquisition expands Strata's offerings and execution capabilities by incorporating Crossover's customer origination and power offtake competencies and other proficiencies that deliver on renewable energy initiatives, decarbonization strategies, and the development of new technologies like green hydrogen.

"Strata's acquisition of Crossover bolsters our ability to bring high-value energy solutions to our clients across several market segments and geographies," said Joshua Rogol, Chief Development Officer for Strata. "The Crossover team has a well-defined track record of innovative product development and financing of differentiated power offtake structures. The combination of our platforms will be valuable to Strata as we grow our development pipeline to over 15GWs this year."

The acquisition will enhance Strata's robust growth, leveraging key Crossover relationships with numerous clients such as municipalities, co-ops, community choice aggregators (CCAs), investor-owned utilities (IOUs), and large industrial entities. These relationships strengthen Strata's presence as a leading utility-scale solar and battery storage provider.

"Crossover's track record illustrates the importance of product design and offtake origination to maximize value for renewable projects. Combining our team with the expert development capabilities at Strata will be a win-win and an evolution that our entire team is looking forward to," said Tiago Sabino Dias, CEO of Crossover.

While specifics of the deal remain confidential, Strata is purchasing 100% of Crossover's assets and interest in its development platform. Sabino Dias and President Michael Grunow will take on senior roles within Strata, and all Crossover employees will merge with the Strata platform, focusing on bringing Strata projects to market.

About Strata Clean Energy

Strata Clean Energy, LLC, and its affiliates (collectively "Strata") are a vertically integrated solar and storage development, engineering, procurement, and construction (EPC) and operations & maintenance (O&M) company. Strata has deep utility experience with more than 170 projects in operation, nearly 8 gigawatts of PV solar and 25GWh of standalone storage in development, and 4.2GW under management across the United States. Strata is focused on delivering best-in-class cost of ownership by imposing industry-leading quality assurance standards on our global manufacturers and suppliers, reducing risk, increasing efficiency, and maximizing cost-competitiveness for our customers. Learn more about our company by visiting our website at www.stratacleanenergy.com.

About Crossover Energy Partners

Crossover Energy Partners supports renewable energy initiatives and decarbonization goals for municipalities, co-ops, community choice aggregations (CCAs), investor-owned utilities (IOUs), and large industrial entities by developing and executing innovative renewable solutions exceeding economic and sustainability objectives. Crossover Energy Partners provides clean energy transition solutions to leading investment firms by bringing the expertise needed for the origination, development, construction, financing, and long-term operation of clean energy projects, including utility-scale solar, solar + storage, stand-along storage, and wind. For more information, follow us on LinkedIn at www.linkedin.com/company/crossover-energy-partners

Wendy Prabhu | Mercom Communications
T: +1 512 215 4452
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TORONTO--(BUSINESS WIRE)--Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) is pleased to announce that it has closed its previously announced overnight-marketed public offering (the “Offering”) of units of the Company (the “Units”) on a best efforts basis at a price of US$2.35 per Unit for gross proceeds of approximately US$5.5 million (~CAD$7.4 million). Each Unit comprises one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at a price of US$3.10 at any time on or before the date that is 36 months after the closing date of the Offering.

The Company intends to use the net proceeds of the Equity Offering for capital expenditures associated with the expansion and recommissioning of the Company’s wholly-owned hydrometallurgical cobalt refinery, including buildings, equipment, infrastructure, and other direct costs, as well as engineering and project management costs.

The Offering was conducted by a syndicate of agents led by Cantor Fitzgerald Canada Corporation (“Cantor”), as lead agent and sole book runner, and which included Canaccord Genuity Corp., H.C. Wainwright & Co., LLC, A.G.P./Alliance Global Partners, Desjardins Securities Inc., Paradigm Capital Inc. and Red Cloud Securities Inc. (each an “Agent” and, together with Cantor, the “Agents”). In connection with their services in the Offering, the Agents received a cash fee of US$324,652.50. As additional compensation for their services, the Company issued to the Agents 138,150 compensation warrants (the “Broker Warrants”) exercisable to acquire an aggregate of 138,150 Units (the “Broker Warrant Units”) at any time on or before the date that is 36 months after the closing date of the Offering, with each Broker Warrant Unit consisting of one Common Share and one Warrant.

The Company filed a preliminary prospectus supplement dated November 8, 2022, as amended on November 9, 2022, as well as a final prospectus supplement dated November 9, 2022 (the draft prospectus supplement, amended draft prospectus supplement, and final prospectus supplement, the “Prospectus Supplement”) to its final short form base shelf prospectus dated November 26, 2020, as amended by amendment no. 1 dated November 30, 2021 (collectively, the “Base Shelf Prospectus”) in connection with the Offering. The Prospectus Supplement was filed with the securities regulatory authorities in each of the provinces of Canada, except Québec. The Prospectus Supplement was also filed with the U.S. Securities and Exchange Commission (the “SEC”) as part of a registration statement on Form F-10 (File No. 333-264982), effective upon filing with the SEC on May 16, 2022, in accordance with the Multijurisdictional Disclosure System established between Canada and the United States. The Prospectus Supplement, the Base Shelf Prospectus, and the documents incorporated by reference therein are available on the Company’s issuer profile on SEDAR at www.sedar.com and with the SEC at www.sec.gov. Copies of the Prospectus Supplement and accompanying Base Shelf Prospectus may also be obtained in Canada from Cantor Fitzgerald Canada Corporation, Attn: Equity Capital Markets, 181 University Avenue, Suite 1500, Toronto, ON, M5H 3M7, email: This email address is being protected from spambots. You need JavaScript enabled to view it., or in the United States from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 4th Floor, New York, New York 10022 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. Prospective investors should read the Prospectus Supplement and the accompanying Base Shelf Prospectus, and the other documents the Company has filed, before making an investment decision.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Electra Battery Materials

Electra is a processor of low-carbon, ethically-sourced battery materials.

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

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects', “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Such forward-looking statements include, without limitation, statements regarding the expected use of proceeds of the Offering. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR at www.sedar.com and with on EDGAR at www.sec.gov. Although Electra Battery Materials Corporation believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Electra Battery Materials Corporation disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Joe Racanelli Vice President, Investor Relations
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JAKARTA, Indonesia--(BUSINESS WIRE)--$SZ #GlobalFortune500--The G20 Bali Summit presented the latest construction results of the Jakarta-Bandung High-speed Railway (HSR), the first high-speed railway in Southeast Asia. With a total length of 142 kilometers and a maximum design speed of 350 kilometers per hour, marking that Indonesia has entered the "high-speed rail era". Midea provides professional HVAC solutions and the most intimate services and sends "Midea Coolness" for Jakarta-Bandung HSR with 126 ODUs and 705 IDUs of Midea VC Pro.

The HVAC project is vital equipment support for Jakarta-Bandung HSR. Jakarta-Bandung Railway is located in the tropical rainforest climate zone of Java Island and is influenced by the equatorial climate. The operator of the HSR needs a reliable and stable central air conditioning system to adapt to the high temperature and high humidity working conditions without downtime and effectively maintain the constant temperature of the HSR building space.

With a leading position in the global HVAC industry, Midea Building Technologies provides Jakarta-Bandung HSR professional air conditioning solutions. The multi-fluid chip liquid cooling technology can cool the electric control parts in time, and about 8 degrees can reduce the average temperature of the electric control parts, which can maintain strong cooling in high-temperature environments. In terms of corrosion resistance, the VC Pro VRFs ODUs can still operate stably under the severe corrosion of salt pollution environment by simulating experimental tests.

Besides facing the problems of a large construction area and high population flow in the HSR station, Site 4, which Midea MBT won the bid for, containing six building types such as station buildings, apartment buildings, etc., is the most complex site for the installation of central air conditioning for the Jakarta-Bandung HSR. Moreover, in Indonesia, the procurement of installation materials for the project was restricted in many ways. All aspects had to be evaluated in the process of selection. The air conditioning design plan was also updated again and again and refined over and over again. Finally, the optimal quality and efficiency of the HVAC installation project were achieved with the combination of multi-type design and multi-layout form.

Midea VC Pro VRFs have also been used in Dubai Expo and many other overseas projects. Now, Midea Building Technologies has localized its sales and service networks in the international market, forming a comprehensive layout from core technology, and original products to differentiated customized solutions.

Lori Luo
+86 13512784739
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Impersonators take advantage of hectic schedules to steal money and personal information

CHICAGO--(BUSINESS WIRE)--Media Alert: ComEd can make company representatives available for interviews to share scam-awareness tips for Utility Scam Awareness Day, Wednesday, Nov. 16.

In advance of Utility Scam Awareness Day, which is Wednesday, Nov. 16, ComEd urges families and businesses to be on the lookout for impersonators looking to steal money and information from unsuspecting individuals.

Scammers posing as ComEd employees will call homes and businesses from a number that appears to be from ComEd and threaten to turn off electric service unless payment is made to a bogus website or phone number. Sometimes imposters will visit in person to collect personal information that can be used to steal identities or access bank accounts.

“During the holidays, scammers and imposters will up their game… knowing people are busier, distracted with holiday plans and paying less attention to their spending and bill-paying habits,” said Nichole Owens, ComEd vice president of customer channels. “The best defense against scams is knowing what to look for and sharing scam-awareness tips with family and friends.”

Adds Steve J. Bernas, president and CEO of Better Business Bureau, and a strategic partner with ComEd in raising awareness of utility scams: “Fraudsters use fear and distraction to trick their victims. They put the fear in people that they may lose their electricity during the holidays as well as the coldest of winter months and peak summer heat. We always see a spike in these reports to the BBB Scamtracker when staying warm or cool is most important, and your well-being may depend on it.”

Tips to Help Identify Scams

ComEd will never call or visit your home or business to:

• ask for direct payment with a prepaid cash card, cryptocurrency such as Bitcoin, or third-party payment app like Cash App, QuickPay, Venmo or Zelle;
• demand immediate payment; or
• ask for personal information, such as a Social Security number, driver’s license number of bank information; we also will not ask for your ComEd account number unless you contact us first to enroll in a program or service.

Tips to Help Identify a True ComEd Employee

• All ComEd field employees wear a uniform with the ComEd logo and visibly display a company ID badge with the logo and employee’s name.
• ComEd recently changed its logo, so customers may continue to see the former ComEd logo on uniforms, badges and vehicles until the logo is phased out.
• If customers are ever unsure about whether a person knocking at their door is a true ComEd employee, they are encouraged to close and lock their door, and call ComEd from a trusted phone number – which is 800-EDISON1 (800-334-7661). A true ComEd employee will not mind waiting.

Assistance With Past-Due Balances

Scammers sometimes find success with individuals and businesses who may be behind in their bills and pressure them into sending immediate payment. For anyone facing difficulty paying their electric bill, ComEd offers a number of payment assistance programs to help customers avoid late notices and disconnection. For information, visit ComEd.com/PaymentAssistance.

To make it easier for customers to find ways to pay electric bills and energy-saving tips, ComEd offers its Smart Assistance Manager (SAM), an online self-service tool that can match customers with payment-assistance programs and energy-efficiency offerings to help them manage their electric bills now and into the future.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.

ComEd Media Relations
312-394-3500

Collaborative effort sponsored by New Brunswick Innovation Foundation to accelerate Malta’s breakthrough long-duration energy storage technology

FREDERICTON, New Brunswick--(BUSINESS WIRE)--Malta Inc. and the Off-site Construction Research Centre (OCRC) at the University of New Brunswick (UNB) announced approval of New Brunswick Innovation Foundation (NBIF) funding to accelerate deployment of long-duration energy storage. Malta is a leading innovator of grid-scale, long-duration energy storage.

The grant will help fund a study evaluating the applicability of advanced modularization techniques and their impact on the optimization and rapid deployment of Malta’s Pumped-Heat Energy Storage (PHES) system. Malta’s PHES technology, which can store energy from eight hours to eight days or longer, improves the resilience and efficiency of electricity grids and allows for increased use of renewable energy, particularly abundant wind resources.

“Our government remains committed to supporting energy innovation across the province. NBIF is a key partner in helping to unlock the potential within our Energy sector. I’d like to commend Malta and UNB for their entrepreneurial spirit as they embark on this important work,” said Arlene Dunn, minister responsible for Opportunities NB.

Data from the study will reduce the time and capital expenditure necessary for Malta to deploy its breakthrough thermal energy storage technology.

“Collaborating with UNB OCRC on this research connects Malta with some of academia’s best minds in the fields of civil and construction engineering,” said Malta CEO Ramya Swaminathan. “Combining the OCRC’s extensive knowledge with our own specialized industry expertise advances the deployment of much-needed energy storage and will help educate the next generation of clean energy innovators.”

“At OCRC, we are constantly innovating in off-site construction and digital strategies for construction, and looking to collaborate with industry partners to further our research. Through this collaboration with Malta Inc, a leader in long-duration energy storage, OCRC is leaping into shaping the electricity grid of the future here in New Brunswick and beyond. UNB OCRC is excited about this partnership and to foray into the growth of clean energy technology across Canada and globally,” said Dr. Zhen Lei, OSCO Research Chair in Off-Site Construction and scientific director of the OCRC.

The Malta PHES system employs well-understood thermodynamic systems in a breakthrough energy storage application. It saves electricity for storage as thermal energy, which is stored until needed in a molten salt solution. This stored energy can be converted back to electricity on demand, returning the electricity to the grid to cover gaps between supply and demand and provide other essential grid resiliency services. In addition to providing readily dispatchable renewable energy, Malta’s PHES technology generates heat for industrial and district heat applications.

About Off-site Construction Research Centre
The Off-site Construction Research Centre (OCRC) builds on UNB’s faculty of engineering strengths in civil engineering and related pre-manufacturing technology. Established in 2018, the OCRC uses a technology-driven approach to optimize off-site manufacturing and on-site assembly to revolutionize the construction industry and train the next generation of builders. Visit: www.unb.ca/ocrc

About Malta Inc.
Malta, Inc. has developed a 100 megawatt (MW) Zero-Carbon Power Plant, a one-for-one replacement for today’s fossil fuel-fired plants that delivers affordable, reliable, on-demand clean energy 24/7. Malta’s innovative technology stores electricity as thermal energy from eight hours to eight days or longer, later returning it to the grid to meet hourly, daily, and weekly needs. The Malta system also provides clean heat for industrial and district heating applications. Visit: www.maltainc.com

UNB Off-site Construction Research Centre
Savleen Khurana
506 262-2793
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Malta Inc.
Steven C. Sullivan
518-441-7272
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• Third quarter revenue increased 69% year-over-year to $14.4 million
• Record media revenue of $12.2 million, an increase of 9% quarter-over-quarter and 66% year-over-year
• Volta’s network of installed charging stalls was 3,093 as of September 30, 2022, adding 173 charging stalls, up 6% quarter-over-quarter and up 45% year-over-year
• Volta Media™ Network surpassed 5,700 screens and one billion monthly media impressions; new advertisers included Google, Neiman Marcus, FIJI Water, Peacock, and Capital One; repeat advertisers included Jeep, Target, Disney, Bank of America, and Coca-Cola
• Volta reduced run-rate cash SG&A by 43%, which included a 54% reduction of U.S. full-time headcount

NEW YORK--(BUSINESS WIRE)--Volta Inc. (NYSE: VLTA, VLTA WS) (“Volta” or the “Company”), an industry-leading electric vehicle (“EV”) charging and media company, today announced financial results for its third quarter ended September 30, 2022.

“Volta’s business continues to grow, demonstrating the power and value of our business model and media network,” said Vince Cubbage, Interim CEO at Volta. “While Volta’s short-term challenges have been significant, we continue to take aggressive action to reduce costs and grow revenue, while positioning the Company for long-term success. We're a powerful dual energy and media network, delivering the best charging solution for drivers, advertisers, commercial properties, and municipalities. I remain as excited as ever about the opportunity in front of us and the prospects for our business.”

Third Quarter and Recent Business Highlights

Organizational Realignment & Cost Reductions: Volta reduced run-rate cash SG&A by 43%, which included a 54% reduction of U.S. full-time headcount. The Company continued to streamline the organization and prioritize resources toward revenue-driving initiatives, including expanding its digital advertising business and accelerating its role as an EV charging partner for commercial properties and government agencies.

Federal Funds: Volta realigned a component of its sales organization to emphasize its unique offerings as an ideal public-private partner for state and federal government agencies to ensure high-value deployment of the $7.5 billion of federal funding under the Bipartisan Infrastructure Law. Results of this realignment include Volta’s work with the City of Hoboken, which demonstrates the attractiveness of Volta’s model to communities developing EV charging infrastructure to serve growing demand. Volta will continue to prioritize future EV charging station installations that qualify for government-provided funds by leveraging its PredictEV® infrastructure planning software. By analyzing multiple data sources, including local economic and equity data, PredictEV can identify locations within Volta’s signed pipeline of over 7,200 EV charging stalls, nearly 4,000 of which Volta believes satisfy the government’s requirements.

Accelerating National Digital Advertising Business: In the quarter, the Volta Media™ Network surpassed 5,700 screens and one billion monthly media impressions. This network footprint, combined with advanced digital media capabilities such as data-driven audience targeting, programmatic media buying, dynamic creative triggers, mobile retargeting, and a suite of measurement analytics, offered value to an increasingly diversified roster of clients. AdExchanger recently awarded Volta the Best Commerce Media Technology for its campaign with Coca-Cola®, demonstrating the power of the Volta Media Network to drive measurable sales for leading advertisers.

Third Quarter 2022 Financial Highlights

• Total third quarter revenue increased 69% year-over-year to $14.4 million.
• Record media revenue of $12.2 million, an increase of 9% quarter-over-quarter and 66% year-over-year.

Revenue by Category

• Selling, general and administrative expenses were $40.0 million, compared to $55.7 million in the prior-year period.
• Net loss was $42.5 million, compared to a loss of $69.7 million in the prior-year period.
• Adjusted EBITDA was $30.9 million loss, compared to $22.1 million loss in the prior-year period.
• Cash and marketable securities were $15.6 million as of September 30, 2022.
• Weighted-average shares outstanding for the three months ended September 30, 2022 were 168.8 million.

Total Stalls Connected, including for Network Development Customers

In the third quarter, Volta’s installed base increased by 173 stalls, bringing Volta’s installed base of total stalls connected as of September 30, 2022 to 3,093, representing a 45% year-over-year increase. A stall is attributed to a station based on the number of vehicles that can charge concurrently from that station, and there are certain configurations of Volta sites where one station is capable of charging more than one vehicle at a time. The Company now has stalls in 31 states and territories.

Webcast and Conference Call Information

Company management will host a webcast and conference call on November 14, 2022, at 5:00 p.m. Eastern Time, to discuss the Company’s financial results and business operations updates.

Interested investors and other parties can listen to a webcast of the live conference call and access the Company’s third quarter update presentation by logging onto the Investor Relations section of the Company’s website at https://investors.voltacharging.com/.

The conference call can be accessed live over the phone by dialing +1-888-999-6281 (domestic) or +1-848-280-6550 (international). A telephonic replay will be available approximately three hours after the call by dialing +1-844-512-2921, or for international callers, +1-412-317-6671. The pin number for the replay is 11152525. The replay will be available until 11:59 p.m. Eastern Time on November 28, 2022.

About Volta Inc.

Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle (“EV”) charging and media company. Volta's unique network of charging stations powers vehicles and drives business growth while accelerating a clean energy future. Volta delivers value to site hosts, brands, and consumers by installing charging stations that feature large-format digital advertising screens located steps away from the entrances of popular commercial locations. Retailers can attract and influence foot traffic, advertisers can precisely target audiences, and EV drivers can charge their vehicles seamlessly as they go about their daily routines. Volta's extensive network leverages its proprietary PredictEV® platform, which uses sophisticated behavioral science and machine learning technology to help commercial property owners, cities, and electric utilities plan EV infrastructure intelligently, efficiently, and equitably. To learn more, visit www.voltacharging.com.

Non-GAAP Financial Information

This press release contains references to EBITDA and Adjusted EBITDA of Volta, which are adjusted from results based on generally accepted accounting principles in the United States (“GAAP”) and exclude certain expenses, gains and losses. The Company defines and calculates EBITDA as net loss attributable to Volta before the impact of interest income or expense, provision for income taxes, depreciation and amortization. The Company defines and calculates Adjusted EBITDA as EBITDA adjusted to exclude stock-based compensation expense and change in fair value of warrant liabilities.

These non-GAAP financial measures are provided to enhance the user’s understanding of our prospects for the future and the historical performance for the context of the investor. The Company’s management team uses these non-GAAP financial measures in assessing performance, as well as in planning and forecasting future periods. These non-GAAP financial measures are not computed according to GAAP and the methods the Company uses to compute them may differ from the methods used by other companies. Non-GAAP financial measures are supplemental, should not be considered a substitute for financial information presented in accordance with GAAP and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Refer to the attached financial supplement for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures for the three and nine months ended September 30, 2022, and 2021.

Total Stalls Installed

Volta management considers “Total Stalls Installed” as the total size of its installed charging network at the end of the period, including Volta-owned and network development customer-owned charging stations operated by Volta. Volta’s management uses Total Stalls Installed for internal network planning and forecasting purposes, including evaluating the potential Media (previously Behavior and Commerce) revenue generating capacity of its charging network, which is generated through delivery of content by Volta’s advertisers across both Volta-owned and its network development customer-owned charging stalls. In addition, Total Stalls Installed provides the basis for Volta’s assessment of its charging network operations. Volta believes that this performance measure provides meaningful, supplemental information regarding the Volta charging network that helps illustrate trends in its business and operating performance. Volta believes that this performance measure is helpful to its investors as it is used by management in assessing the growth of the Volta charging network.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding Volta’s future business, operations and financial performance. These forward-looking statements generally are identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “may,” “opportunity,” “plan,” “potential,” “project,” “should,” “strategy,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as updated in our subsequent Quarterly Reports on Form 10-Q, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.voltacharging.com. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Volta Inc.
Non-GAAP Reconciliation

EBITDA and Adjusted EBITDA

The following table provides a reconciliation of EBITDA and Adjusted EBITDA to net loss, the most directly comparable U.S. GAAP measure reported in Volta’s unaudited condensed consolidated financial statements for the following periods:

For Investor/Analyst:
Drew Lipsher, Chief Development Officer
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For Media/Press:
Jette Speights, SVP of Communications
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Council members include renowned experts in geopolitics, defense, climate, and energy policy

THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (“Excelerate” or “Company”) announces the formation of an International Strategic Advisory Council (“Council”) consisting of international experts who provide advice to the Company on global political, social, economic, and policy issues. The Council is composed of practitioners in the fields of academia, diplomacy, energy and climate policy, and political-military affairs who bring a wealth of experience and outside perspectives to inform the Company’s development strategy and decision making.

The initial members of the Council are Ambassador (ret.) Liliana Ayalde, Admiral (ret.) Craig Faller, Ambassador (ret.) Gerald Feierstein, Dr. Michał Kurtyka, Ambassador (ret.) Anne Patterson, and Dr. Angela Stent.

• Amb. Ayalde is a Senior Advisor at the Center for Strategic and International Studies. She served as U.S. Ambassador to Brazil and Paraguay, and Senior Deputy Assistant Administrator of USAID.
• Adm. Faller is a retired four-star U.S. Navy Admiral who served as Commander of U.S. Southern Command and Senior Military Assistant to the Secretary of Defense.
• Amb. Feierstein is a distinguished senior fellow at the Middle East Institute. He served as U.S. Ambassador to Yemen and Principal Deputy Assistant Secretary of State for Near Eastern Affairs.
• Dr. Kurtyka served as Poland’s first Climate Minister, responsible for energy, climate and the environment, President of COP 24 (2018 in Katowice), and Chair of the 2019 IEA Ministerial.
• Amb. Patterson is a retired Foreign Service Officer who served as U.S. Ambassador to Colombia, Egypt, El Salvador, and Pakistan and Assistant Secretary of State for Near Eastern Affairs.
• Dr. Stent is Director Emerita of Georgetown University’s Center for Eurasian, Russian, and East European Studies. She was previously a U.S. National Intelligence Officer for Russia and Eurasia.

“I am honored to name this distinguished group of subject matter experts and former public servants to Excelerate’s new International Strategic Advisory Council,” said Steven Kobos, President and CEO of Excelerate. “The Council members’ collective expertise and unique perspectives will enrich Excelerate’s decision making and enable us to continue to deliver flexible, secure, and reliable energy to countries that need it most.”

About Excelerate Energy:

Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.

Investors
Craig Hicks
Excelerate Energy
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Media
Stephen Pettibone / Frances Jeter
FGS Global
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• Third quarter 2022 revenue of $1.7 million, driven by revenue from the energy storage projects with Jupiter Power in Texas and California.
• Revenue for the first nine months ending September 30, 2022, totaled $45.6 million, driven mainly by gravity energy storage licensing revenue with Atlas Renewable.
• Third quarter GAAP loss from operations of $(36.2) million, and GAAP net loss of $(28.8) million.
• Third quarter 2022 adjusted EBITDA totaled $(17.2) million; for the first nine months of 2022 ending September 30, 2022, adjusted EBITDA was approximately breakeven totaling $(0.2) million.
• Total cash on the balance sheet of $274.7 million as of September 30, 2022, vs $299.1 million as of June 30, 2022.
• Operating Highlights:
  • Signed and booked orders for 495 megawatt hours (MWh), converting prior project awards, for approximately $210 million.
  • New projects awards of approximately 2 gigawatt hours (GWh) of energy storage systems, including our first 48-hour long-duration hybrid system utilizing green hydrogen. This approximately 300 MWh project, awarded by a leading western public utility, is expected to be one of the largest green hydrogen energy storage projects globally.
  • Total signed contracts and project awards are now approximately 4.8 GWh, representing approximately $2 billion of potential revenue.
  • Gravity systems: Construction progressed as planned in China, completing foundation activities, and moving to fixed frame structural erection and power electronic staging; test piling activity commenced in Snyder, Texas for Enel Green Power.
  • Battery systems: Engineering, procurement and construction commenced for Jupiter’s Texas and California projects, and Wellhead’s Stanton, California project. These battery projects are expected to be operational between the second and third quarter of 2023.
  • Global infrastructure and commercial build-out progressed with legal entity establishment underway in Australia and China to complement our United States and European presence.
  • Total headcount grew 18% from the second quarter of 2022 to the third quarter of 2022, bringing YTD 2022 headcount growth to 104% versus end of year 2021.
• Appointed Jan Kees van Gaalen as Chief Financial Officer replacing interim Chief Financial Officer, David Hitchcock, who will remain as an advisor to Energy Vault through December 31, 2022.
• Re-affirming prior guidance: 2022 revenue of $75 million to $100 million and adjusted EBITDA of $(10) million to $3 million, driven by Gravity Energy Storage System territory expansions and execution on initial project construction starts in California and Texas with Jupiter Power and Wellhead. Expect to end 2022 with total cash balance of $260 million to $280 million.
• Re-affirming 2-year aggregate revenue guidance of approximately $680 million for combined full year 2022 and full year 2023.

LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Energy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault” or “the Company”), a leader in sustainable, grid-scale energy storage solutions, announced financial results for the third quarter ended September 30, 2022.

Robert Piconi, Chairman and CEO of Energy Vault, stated, “We made strong progress during the quarter across all commercial, operational and financial facets of our business. Customers are choosing Energy Vault given the innovative portfolio of solutions that address their needs across short and long duration storage, as well as addressing their complex requirements to optimize energy density, economics, and overall performance. During the quarter, we announced contract signings totaling 495 megawatt hours for our battery energy storage solutions for immediate delivery in 2023 with top tier customers. This highlights the readiness of our solutions and software capabilities, and more importantly, the trust that our customers have in us to deliver projects on-time and on-budget.

Additionally, we have received awards for approximately 2 gigawatt hours of energy storage solutions to address our customer’s immediate needs. This includes a 500 MWh short-duration battery storage project with Meadow Creek in Australia as previously announced, an 820 MWh short-duration battery storage project in Europe and our previously announced 440 MWh award with a large western utility. These projects mark our first entrance into the European market and our first shorter duration project to complement our long duration gravity projects in Australia, regions that we have seen increased demand for energy storage driven by supportive policy and macro events. I am also pleased to announce one of the first and largest utility-scale green hydrogen storage projects, for approximately 300 MWh of storage capacity with another large western utility. The introduction of green hydrogen into our technology portfolio further validates our technical differentiation with our energy management software platform and the market for hybrid short and long duration integrated systems.”

Mr. Piconi continued, “Looking ahead to the balance of 2022 and 2023, we will continue to scale our talent base and global infrastructure to enable commercial and operational execution for our customers. We will leverage, in a disciplined manner, our position as the only energy storage company offering a hardware agnostic portfolio of both short and long duration storage solutions, bringing innovative gravity, green hydrogen and hybrid solutions to the market for the first time.”

Third Quarter 2022 and Recent Business Highlights:

Realized significant commercial momentum on our utility-scale battery energy storage projects:

• Signed contract with Wellhead Electric and W Power for 275 MWh energy storage project in Southern California.
  • Energy Vault has signed a contract to deploy a 68.8 megawatt (275 MWh) battery energy storage system (BESS) at Wellhead’s Energy Reliability Center in Stanton, California to provide enhanced resources and improved grid reliability in the Southern California Edison territory. The Stanton ESS will be one of the largest energy storage systems in southern California and will be based on Energy Vault Solutions’ (EVS) proprietary system design and EVS’s Energy Management Software for optimal economic dispatching. This contract reflects successful validation of EVS’s technology-agnostic strategy, to provide customers with the most flexible and cost-effective energy storage solutions. The project is expected to be completed in the second half of 2023.
• Signed contract with Jupiter Power for 220 MWh energy storage project in Texas and California.
  • Energy Vault and Jupiter Power will deploy a BESS in Texas to provide energy and ancillary services to the ERCOT energy-only market and a battery energy storage system in California to provide similar services through participation in the CAISO Resource Adequacy program. The storage systems will be based on EVS’s proprietary integration system design and EVS’ Energy Management Software for optimal economic dispatching. The project is expected to be completed in the second half of 2023.
• Awarded a 250 MW/500 MWh grid-connected battery storage agreement in Victoria, Australia.
  • Meadow Creek Solar pty Ltd., a developer of the Meadow Creek Solar Farm has awarded Energy Vault a 250 MW/500 MWh BESS project to support its 330 MW solar project. Under the notice of award, Energy Vault will begin the advanced grid studies and modeling with technical advisor DNV, as required by the Australian Energy Market Operator (AEMO) for interconnected power systems in Australia's eastern and south-eastern seaboard, which will be located 2 hours north of Melbourne, Australia. The battery storage system, being co-located with the solar PV, will provide the flexibility of charge and discharge, essential to shoring up renewable energy supply across the network as Australia adopts the Australian Energy Market Operator's Integrated System Plan. The project is expected to be completed in 2024.
• Awarded a 410 MW/820 MWh project in Europe with a large renewable energy developer.
  • Energy Vault announced it was awarded an 820 MWh battery energy storage system project with a large renewable energy developer with expected completion in 2024.
• Awarded an approximately 300 MWh, utility-scale battery plus green hydrogen storage project with an additional large western public utility for long duration storage, marking our first hydrogen deployment.
  • The hybrid battery plus hydrogen storage project will provide 300 MWh of carbon-free energy over 48 hours. The hybrid architecture will allow for grid forming and black start capabilities. Energy Vault’s Energy Management System will provide full system control and optimal dispatching among the batteries, hydrogen tanks and fuel-cells.
• Previously announced award for a 220 MW/440 MWh energy storage project with a large western utility is in the final stages of contract execution.
  • The project is expected to reach commercial operation by the end of 2023.

Large scale gravity-energy storage projects utilizing our EVx system continues multi-continent progress:

• Received a limited notice to proceed with the Enel Green Power project which has resulted in groundbreaking on location in Snyder, Texas for an 18 MW / 36 MWh gravity energy storage system. This project will be the first gravity storage deployment in the western hemisphere.
• First 100 MWh project in China progressing in line with plan
  • Energy Vault will continue to support the 100 MWh project in the fourth quarter of 2022 and into next year. We expect the project to achieve commercial deployment in the first half of 2023.
• 2 GWh Mandate announced for Energy Vault’s EVx™ Gravity Energy Storage Platform for Initial Zero Carbon Industrial Parks in China
  • In partnership with Atlas Renewable, EIPC (a policy oriented supporting organization of the Investment Association of China), in conjunction with China Tianying and selected provincial and local governments, will develop five national zero carbon industrial parks. The parks will utilize Energy Vault’s gravity energy storage technology and its Energy Management Software platform to support China’s mandated climate change and environmental policy. The first announced site has been confirmed for a 2 GWh system located in Inner Mongolia.

Other recent updates:

• Energy Vault announced key executive appointments.
  • Jan Kees van Gaalen will be appointed as Chief Financial Officer effective November 16, 2022, and is replacing interim Chief Financial Officer David Hitchcock, who will remain as an advisor to Energy Vault through December 31, 2022.
  • E.B. Jensen has joined as Senior Vice President, Project Execution and Delivery. Jensen will lead the teams responsible for energy storage deployment across the global landscape.
  • Dr. Craig Horne has joined as Vice President of Advanced Energy Storage Development, responsible for the expansion of Energy Vault’s portfolio of storage solutions.

Outlook:

• Energy Vault reiterates its expectation for full year 2022 revenue in the range of $75 million to $100 million and adjusted EBITDA range of $(10.0) million to $3.0 million.
• Energy Vault maintains its two-year aggregate revenue guidance of approximately $680 million for full year 2022 and full year 2023.
• Expect to end 2022 with total cash balance in the range of $260 million to $280 million.

Conference Call Information

Energy Vault will host a conference call today at 4:30 PM ET to discuss the results, followed by a Q&A session. A live webcast of the call can be accessed https://www.energyvault.com/. To access the call, participants may dial 1-877-704-4453, international callers may use 1-201-389-0920, and request to join the Energy Vault earnings call.

A telephonic replay will be available shortly after the conclusion of the call and until, November 28, 2022. Participants may access the replay at 1-844-512-2921, international callers may use 1-412-317-6671, and enter access code 13733498. The call will also be available for replay via webcast link on the Investors portion of the Energy Vault website at https://www.energyvault.com/.

About Energy Vault

Energy Vault develops and deploys turnkey sustainable energy storage solutions designed to transform the world’s approach to utility-scale energy storage in realizing decarbonization while maintaining grid resiliency. The company’s proprietary energy management system and optimization software suite is technology agnostic in its ability to orchestrate various generation and energy storage resources to help utilities, independent power producers and large industrial energy users to significantly reduce their levelized cost of energy while maintaining power quality and grid reliability. Energy Vault’s EVx™ gravity energy storage system utilizes eco-friendly materials with the ability to integrate waste materials for beneficial re-use. Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers. For additional information, please visit: www.energyvault.com

Non- GAAP measures

Energy Vault has provided a reconciliation of Adjusted EBITDA to net loss, the most directly comparable GAAP measures, for the historical period in the appendix hereto. A reconcilation of projected non-GAAP measures for the full-year 2022 has not been provided because certain information necessary to calculate such measures on a GAAP basis is unavailable or dependent on the timing of future events outside of our control. Therefore, because of the uncertainty and variability of the nature of the amount of future adjustments, which could be significant, the Company is unable to provide a reconciliation for these forward-looking non-GAAP measures without unreasonable effort.

Forward-Looking Statements

This press release includes forward-looking statements that reflect the Company’s current views with respect to, among other things, the Company’s operations and financial performance. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as “ anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “project,” “forecast,” “estimates,” “targets,” “projections,” “should,” “could,” “would,” “may,” “might,” “will” and other similar expressions. We base these forward-looking statements or projections on our current expectations, plans and assumptions, which we have made in light of our experience in our industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at the time. These forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These forward-looking statements are only predictions based upon our current expectations and projections about future events. These forward-looking statements involve significant risks and uncertainties that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including changes in our strategy, expansion plans, customer opportunities, future operations, future financial position, estimated revenues and losses, projected costs, prospects and plans; the implementation, market acceptance and success of our business model and growth strategy; our ability to develop and maintain our brand and reputation; developments and projections relating to our business, our competitors, and industry; the impact of health epidemics, including the COVID-19 pandemic, on our business and the actions we may take in response thereto; our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others; expectations regarding the time during which we will be an emerging growth company under the JOBS Act; our future capital requirements and sources and uses of cash; our ability to obtain funding for our operations and future growth; our business, expansion plans and opportunities and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 and in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 to be filed with the SEC, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov. New risks emerge from time to time and it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified in its entirety by the cautionary statements included in this press release. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws. You should not place undue reliance on our forward-looking statements.

Investors:
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Equinor and partner bp, New York City Economic Development Corporation, and key community members kick off fund to promote workforce growth and inclusivity in New York’s offshore wind industry

BROOKLYN, N.Y.--(BUSINESS WIRE)--Equinor and bp, in partnership with the New York City Economic Development Corporation (NYCEDC) and the Sunset Park Task Force (SPTF), today announced the creation of the Offshore Wind Ecosystem Fund, a $5 million clean energy community grant program designed to support sustainable growth, workforce development, empowerment of underserved communities, and climate justice in New York City’s emerging offshore wind ecosystem.

The fund will provide grants that help spur job education and training, provide historically marginalized communities access to workforce and small business opportunities, and assist minority and women-owned business enterprises in New York City to foster innovation that contributes to the growth of the offshore wind ecosystem.

The Ecosystem Fund is governed by a Strategy Development Committee responsible for creating investment strategies that align with the Fund’s objectives, and a Selection Committee that will help evaluate and select funding proposals. Both include representatives of the Sunset Park Task Force, which advocates to maximize the economic potential and community links between Sunset Park residents and the waterfront, NYCEDC and Equinor.

One of the largest wind developers in the world, Equinor is leading the Ecosystem Fund initiative on behalf of its 50-50 strategic partnership with bp in the US. Together, the companies are developing the Empire Wind and Beacon Wind projects, which will provide enough renewable energy to power more than two million New York homes. Empire Wind, located off the southern coast of Long Island, will provide over two gigawatts of offshore wind energy, and Beacon Wind will provide an additional 1.2 gigawatts of power.

“We are thrilled to announce the launch of the Ecosystem Fund that will provide important funding to help develop the future of the clean energy economy in New York. This initiative will help spur a new pipeline of creative ideas and talented people from across the city, especially from underserved communities, to build careers in this exciting new field,” said Molly Morris, President of Equinor Wind US. “It also aligns with our work with the South Brooklyn Marine Terminal and the community of Sunset Park in Brooklyn to revitalize the industrial port facility and transform it into a major staging and assembly port for offshore wind turbines that will last well into the future.”

Dave Lawler, Chairman and President of bp America, said: “bp recognizes the importance of a just energy transition that delivers quality jobs, supports the livelihoods of local communities and prepares workers for new opportunities in the energy sector. That’s why we’re investing to support equity within the offshore-wind sector, help people develop skills for the future energy system and build greater workforce resilience.”

“We are thrilled to partner with Equinor in the creation of the Offshore Wind Ecosystem Fund, which will be a critical program helping to advance New York City’s Offshore Wind vision,” said NYCEDC President and CEO Andrew Kimball. “This fund is the result of a great public private partnership that will help ensure the green economy is accessible to all New Yorkers.”

Doreen M. Harris, President and CEO, NYSERDA said, “NYSERDA’s partnership with Equinor includes three of New York’s five offshore wind projects currently in development—part of the largest active portfolio in the U.S., that will anchor this game-changing renewable resource here in the Empire State and bring benefits to all New Yorkers – especially those who have historically been left behind. This Ecosystem Fund will support communities like Sunset Park with a pathway to provide historical knowledge and local expertise for workforce training and development initiatives—and guide community investments that will best serve their neighborhoods and the broader development of offshore wind projects.”

“The Offshore Wind Ecosystem Fund is bringing an integrated approach to environmental justice in Brooklyn,” said Brooklyn Borough President Antonio Reynoso. “Not only will these grants accelerate our clean energy efforts, but they will also open up green careers to new generations and empower small businesses owned by minorities, women, and service-disabled veterans to participate in the offshore wind industry. Thank you to Equinor, NYCEDC, and SPTF for the thoughtful approach to New York’s clean and green future.”

“As we work to create a regional hub of offshore wind production and logistics at South Brooklyn Marine Terminal, it is essential we prepare the local workforce to build and operate it. The principle of a just transition is that we focus on equity and include underserved and environmental justice communities in our energy transition. Toward this end, I was also pleased to secure Department of Labor funding for a local workforce development program for climate adaptation manufacturing. As we retool our economy for green energy, I am pleased that this initiative and the work of NYCEDC, Sunset Park Task Force, and Equinor will ensure additional resources for a more just transition as we prepare the local workforce to have real manufacturing jobs right here in Brooklyn. With all levels of government, industry and the community working together, the future can be bright,” said Rep. Nydia M. Velázquez (D-NY).

"New York City’s green energy sector continues to grow stronger with today’s announcement of $5 million dedicated to supporting sustainable and equitable growth in our local communities. These are the green jobs that will not only ensure that we meet our city’s climate goals of 100% clean electricity by 2040, but will also meet our goals for a just economic recovery. As the Chair of the New York City Council’s Committee on Economic Development, I am excited to see the attention that the NYCEDC, Equinor, and the Sunset Park Task Force are paying to the intersectional needs of our workforce. To recover equitably we must put our Black, Brown, and minority communities first- this grant does just that by making sure our Offshore Wind Sector is focusing on M/WBEs, SDVOBs and environmental justice communities. Thank you to President Andrew Kimball, Equinor, and the Sunset Park Task Force for your leadership and collaboration on this important grant," said Councilmember Amanda Farias, Chair of Committee on Economic Development.

“Climate change is one of the biggest threats facing our city. These types of public/private partnerships play an instrumental role in making New York City greener,” said Council Member James F. Gennaro, Chair of the New York City Council’s Committee on Environmental Protection. “I applaud Equinor Wind, NYCEDC and Sunset Park Task Force for this much-needed investment in clean energy.”

“This grant program is a win for climate justice: growing our city’s green economy and supporting good jobs while empowering this community,” said Kizzy Charles-Guzmán, Executive Director, Mayor’s Office of Climate & Environmental Justice. “Offshore wind is crucial to reducing our city’s dependence on fossil fuels and reaching city and state clean energy goals, and we are so pleased that this fund will prioritize frontline communities like Sunset Park.”

“Programs like this show New York City’s great progress toward becoming a world-renowned offshore wind hub,” said Rohit T. Aggarwala, Commissioner, Department of Environmental Protection and Chief Climate Officer. “The Offshore Wind Ecosystem Fund moves us closer to achieving the city’s long-term sustainability goals while creating economic opportunities that revitalize environmental justice communities.”

Further information on the Ecosystem Fund, guidance on applications, and matching opportunities for collaborating with other applicants will be provided in the coming weeks.

An online site for applications opened on November 14^th. For more information about the Offshore Wind Ecosystem Fund, visit https://www.empirewind.com/ecosystem-fund

Equinor is one of the largest offshore wind developers in the world. Its work in the United States includes the development of two lease areas off of New York, Empire Wind and Beacon Wind. The projects plan to provide New York State with 3.3 gigawatts (GWs) of energy—enough to power nearly two million homes—including more than 2 GWs from Empire Wind and 1,230 megawatts from Beacon Wind 1.

bp in the US

bp’s ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. bp has a larger economic footprint in the United States than anywhere else in the world, investing more than $130 billion in the economy and supporting about 245,000 jobs. For more information on bp in the US, visit www.bp.com/us.

New York City Economic Development Corporation (NYCEDC) is a mission-driven, nonprofit organization that creates shared prosperity across New York City by strengthening neighborhoods and creating good jobs. NYCEDC works with and for communities to bring emerging industries to New York City; develop spaces and facilities for businesses; empower New Yorkers through training and skill-building; and invest in sustainable and innovative projects that make the city a great place to live and work.

The Sunset Park Task Force’s mission is to maximize the potential of the Sunset Park waterfront district. The group brings together partners and community stakeholders, including business owners, elected officials, and neighborhood residents, throughout the year to further this mission, which includes efforts to advocate for local businesses and the working waterfront, promote transit and transportation, plan for future investments, and more for the area and surrounding community.

Lauren Shane, senior communications manager, Equinor Renewables US
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Brian Young, Senior Consultant Communications, Equinor US
+1-917-915-6461
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HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today it has been awarded a Top Workplaces 2022 honor by the Houston Chronicle. The list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The confidential survey uniquely measures 15 culture drivers that are critical to the success of any organization: including alignment, execution, and connection, just to name a few.

Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “We are honored to have received this recognition for the third consecutive year. Marking our debut in the Houston Chronicle’s Top Workplaces list in 2020 was a historic milestone for the Company, and maintaining that Top Workplace status for 2021 and 2022 is a remarkable accomplishment and a reflection of SilverBow’s culture and focus on its employees which continue to be our number one asset.”

“Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees,” said Eric Rubino, Energage CEO. “That's something to be proud of. In today's market, leaders must ensure they’re allowing employees to have a voice and be heard. That's paramount. Top Workplaces do this, and it pays dividends.”

ABOUT SILVERBOW RESOURCES, INC.

SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.

Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW

Currently Exhibiting 100 Projects of Impact From Academic Teams in U.S. and 50 Other Countries

DUBAI, United Arab Emirates--(BUSINESS WIRE)--As one of the top global hubs for innovation, Dubai announces “Prototypes for Humanity 2022,” a multi-faceted global initiative that recognizes, advances and rewards ground-breaking ideas that will change the way society lives and works.

Prototypes for Humanity is a collaborative initiative aimed at convening global talent and forging strategic alliances across academia, business, and government to accelerate and maximize global impact for good.

As part of the initiative, Dubai is currently hosting 160 universities students and professors from more than 50 countries to present 100 innovations that can spark change: from carbon-capturing mobility solutions to a portable defibrillator and off-grid electricity sources.

Teams from Harvard University; Massachusetts Institute of Technology; Case Western Reserve University, Cleveland; University of California, Santa Cruz; Cornell University; Pratt Institute; Georgia Institute of Technology; University of Pennsylvania, Philadelphia; and University of Cincinnati are now exhibiting at the Dubai International Financial Centre where they will have access to potential investors and entrepreneurial programming to help advance their prototypes.

"The initiative aligns with Dubai's ambitions, and its commitment to empowering a creative and innovation-embracing community. In light of the global challenges we constantly face, it is time to unite efforts and utilize our creativity to address them,” said Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and Member of the Dubai Council. “I am highly confident in the ability and creativity of those university students and their capabilities to foster a better and more sustainable tomorrow. They have taken responsibility for the future of the planet, and we admire them greatly. This initiative resonates with Dubai’s entrepreneurial spirit and the agenda for COP28, which will be hosted by our beloved UAE in only twelve months,” she added.

A comprehensive list of this year’s 100 entries currently on exhibit and more information can be found at www.prototypesforhumanity.com.

ABOUT PROTOTYPES FOR HUMANITY

Prototypes for Humanity is the most diverse assembly of innovations that have the power to change the world, with programs and activities to raise awareness of global problems, celebrate solutions, and catalyze action for positive social and environmental impact. Prototypes for Humanity debuts this year as an evolution from Global Grad Show, which launched in 2015.

An initiative by the Art Dubai Group, it is held under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, in partnership with Dubai International Financial Centre (DIFC), and supported by Dubai Culture & Arts Authority and A.R.M. Holding.

U.S. Media:
Janice Saragoni, Saragoni & Company
+1 (617) 592-2877
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ANAHEIM, Calif.--(BUSINESS WIRE)--Phoenix Motor Inc. (Nasdaq: PEV) (“Company” or “Phoenix”), a leader in manufacturing of all-electric, medium-duty vehicles, today announced its financial results for the third quarter ended September 30, 2022.

Financial Highlights Third Quarter

• Revenue totaled $409,000 for the third quarter, a decrease of approximately 26% compared to the prior-year period of $554,000 principally due to software-related issues and battery supply constraints that resulted in a delay in delivery of electric vehicles (“EVs”) from the third quarter into the fourth quarter of 2022 and the first quarter of 2023.
• Gross profit increased to $121,000 in the third quarter of 2022, compared to a loss of $49,000 in the third quarter of 2021, primarily driven by a shift in the product mix to higher gross margin products, particularly lithium ion powered electric forklifts.
• Net losses increased to $3.9 million in the third quarter of 2022, compared to a loss of $2.2 million in the prior-year period.
• Total assets were $20.5 million as of September 30, 2022.
• Cash and cash equivalents were $1.3 million as of September 30, 2022.

Financial Highlights Nine Months Ending September 30

• Revenues for the nine months ended September 30, 2022 were $2.6 million, an increase of 53.5% compared to the prior-year period, primarily driven by the increase in sales of electric forklifts.
• Gross profit increased to $566,000 for the most recent nine-month period, compared to a loss of $156,000 for the prior-year period, due to a shift in product mix, particularly attributable to the 20.1% gross margin of electric forklifts products.
• Net losses increased to $8.1 million during the nine-month period ending September 30, 2022, compared to $6.4 million in the prior-year period.

Recent Highlights

• Phoenix just received a nomination letter from CATL (Contemporary Amperex Technology Co., Limited), the world’s largest EV battery manufacturer, forming a strategic partnership and outlining the terms for the procurement of K-Pack batteries and related products for Phoenix Motorcars’ product lines.
• In October, the Company and Pegasus Specialty Vehicles announced the formation of a strategic partnership to jointly develop Class A electric school buses, targeted for the North American market.
• Also in October, the Company engaged IAT to advance engineering and design work for Phoenix’s Gen 4 EVs, to maximize cost efficiencies, speed time to market and ensure the highest quality standards.

“We are excited to have received the Board’s approval for our Gen 4 Development Program,” Phoenix Motorcars CEO, Dr. Lance Zhou commented. “We are well underway in the design, development and engineering processes and have already built a strong order book for our Gen 4 vehicles.”

“We expect our Gen 4 development to be a game changer for Phoenix. The project will demonstrate our “asset light” business model, which will allow for lower costs and shorter time to market than before. We will have standardized design and production processes, which combined with the proven project management experience of our executive leadership team, will enable us to ramp production quickly. We look forward to providing regular updates regarding our strategic plans, important milestones and our progress in the coming quarters for both our Gen 4 and our Gen 5 ground-up chassis vehicles.”

Gen 4 is the “Bridge” to Gen 5

In 2023, Phoenix will introduce its fourth generation “Gen 4” vehicles to the medium-duty EV market. The development of Gen 4 will provide a natural a bridge between our current Gen 3 vehicles and the introduction of our Gen 5 ground-up chassis design. The Gen 4 development will provide several advantages versus our current Gen 3 models, specifically:

• Asset Light Business Model: Gen 4 will mark the deployment of the Company’s “asset light” business model both upstream and downstream. Upstream, Phoenix will leverage its strategic partnerships with R&D partners and engineering suppliers such as IAT, Aulton and Fangsheng. Downstream, Phoenix is partnering with customers and third parties to develop manufacturing and assembly facilities.
• Scale: The Company anticipates efficient scaling of its production, utilizing customer and third-party assembly facilities. Phoenix is reconfiguring its current Anaheim manufacturing facility to increase production capacity and to utilize it as a showcase facility and training center to ensure its processes and procedures are standardized across all partner-operated locations.
• Reduced Costs: Gen 4 is expected to achieve lower production and materials costs compared to Gen 3 vehicles, benefiting from standardization of processes and procedures, as well as components and sub-assemblies—a benefit which will carry over to Gen 5 production as well.
• Battery Supply: The Company expects it will benefit from its recent partnership with CATL for long-term strategic supply of K-Packs and related products for our Gen 4 electric vehicles.

Gen 5 Will Offer Chassis Independence Beginning in 2024

Design, development and production planning for Phoenix’s Gen 5 vehicles will leverage on Phoenix’s experience and benefit from the development of its Gen 4 line of vehicles. Unique highlights of Gen 5 are expected to include:

• Ground-up Chassis Design: The Company will be producing its own ‘ground-up’ chassis in 2024.
• Chassis Independence: The development of Gen 5 will provide Phoenix with chassis independence, overcoming one of the major impediments facing businesses such as ours.
• Lower Cost: Phoenix should be able to produce its chassis for far less than the cost it is currently paying to acquire each chassis.
• Increased Design Flexibility and Customer Satisfaction: Phoenix’s ground up chassis will enable it to customize vehicle designs to meet specialized needs, while maintaining standardized processes and procedures, increasing the Company’s capacity to accommodate customer requirements and meet the evolving needs of the transforming electric vehicle market.

EdisonFuture: The Platform for Growth in 2025 and Beyond

Phoenix continues to make progress in the design and development of its EdisonFuture line of light-duty electric vehicles. This product line is anticipated to provide the market with both consumer and commercial pick-up trucks, SUVs and delivery vans. The development of EdisonFuture will, much like Gen 5, benefit greatly from the development of prior generations, which will further lower costs and speed time-to-market.

Conference Call Information

Phoenix Motor will host a conference call today at 5:00 PM ET to discuss the results. Interested investors and other parties may access a live webcast of the conference call which will be available on the Events and Presentations page on the Investor Relations section of Phoenix’s website at https://ir.phoenixmotorcars.com/events-and-presentations/default.aspx. The call can also be accessed live via telephone by dialing (888) 660-6373 or for international callers (929) 203-1975 and referencing Phoenix Motorcars.

An archive of the webcast will be available after the call on the Events and Presentations page on the Investor Relations section of Phoenix’s website, along with Phoenix’s earnings press release.

About Phoenix Motor Inc.

Phoenix Motor Inc., a pioneer in the electric vehicle (“EV”) industry, designs, builds, and integrates electric drive systems and light and medium duty EVs and sells electric forklifts and electric vehicle chargers for the commercial and residential markets. Phoenix operates two primary brands, “Phoenix Motorcars”, which is focused on commercial products including medium duty EVs (shuttle buses, school buses, municipal transit vehicles and delivery trucks, among others), electric vehicle chargers and electric forklifts, and “EdisonFuture”, which intends to offer light-duty EVs. Phoenix endeavors to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. For more information, please visit: www.phoenixmotorcars.com and www.edisonfuture.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. No assurance can be given that the net proceeds of the Offering will be used as indicated. Forward-looking statements are no guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to convert concept trucks and vans into production and sales; the Company’s product development timeline and expected start of production; development of competitive trucks and vans manufactured and sold by the Company’s competitors and major industry vehicle companies; the Company’s ability to scale in a cost-effective manner; the Company’s future capital requirements and sources and uses of cash; the Company’s ability to obtain funding for its future operations; the Company’s financial and business performance; changes in the Company’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; the implementation, market acceptance and success of its business model; expectations regarding the Company’s ability to obtain and maintain intellectual property protection and not infringe on the rights of others; and other risks contained in the Offering prospectus and reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, including those set forth in the Risk Factors section of the Company's registration statement and Offering prospectus, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Investor Relations Contacts:
Mark Hastings, SVP & Head of Investor Relations
Sioban Hickie, ICR Inc.
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