NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--The City of Orlando has announced it will participate in a demonstration program of adsorbed natural gas (ANG) bi-fuel vehicle technology developed by Ingevity Corporation (NYSE: NGVT). Orlando will add two ANG-equipped Ford F-150 pickup trucks to its fleet to assess data related to fuel savings and greenhouse gas (GHG) emissions reductions.

Made possible by the unique characteristics of Ingevity’s Nuchar® FuelSorb™ hardwood-based activated carbon monoliths, ANG technology reduces the onboard storage pressure of natural gas, enabling a low-cost natural gas fueling solution for the light-duty segment.

Bi-fuel ANG trucks can be fueled at public-access compressed natural gas (CNG) stations or conveniently on-site at work through a small fueling compressor, reducing energy consumption by over 50% and markedly reducing fueling time. ANG vehicles emit 25% fewer GHG emissions than comparable gasoline and diesel vehicles and, when fueled with renewable natural gas, GHG emissions can be reduced by up to 125%.

“The City of Orlando has converted hundreds of municipal fleet vehicles to alternative fuel sources since launching its Green Works Orlando initiative in 2007,” said Jonathan Ford, CAFS, fleet manager for the City of Orlando. “The city is already equipped with natural gas fueling stations and we have enjoyed the reduced emissions benefits and cost savings of natural gas with our CNG vehicles. We are excited to experience the fleet productivity and fueling convenience enabled by ANG technology.” The City of Orlando has committed to running its fleet on 100% renewable resources by 2030.

“Orlando is a leader in alternative fuel adoption,” said David Newton, vice president, corporate strategy, at Ingevity. “Through CNG, the city has already embraced natural gas vehicles and we expect they will further reduce energy consumption and fueling time with these ANG-equipped trucks. We look forward to their participation as we continue to validate the value of ANG.”

Since 2013, the turnkey ANG vehicle and fueling appliance solution has been adopted by SoCalGas in California, Atlanta Gas Light in Georgia, and Ozinga Energy in Illinois. ANG technology has also been EPA-certified on the Ford F-150 since 2018.

Ingevity: Purify, Protect and Enhance
Ingevity provides products and technologies that purify, protect, and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in two reporting segments: Performance Chemicals, which includes specialty chemicals and engineered polymers; and Performance Materials, which includes high-performance activated carbon. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks, coatings, elastomers, bioplastics and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 25 locations around the world and employs approximately 1,750 people. The company is traded on the New York Stock Exchange (NYSE: NGVT). For more information visit www.ingevity.com.

Amy Chiconas
843-746-8197
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Investors:
Jack Maurer
843-746-8242
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GERMANTOWN, Md.--(BUSINESS WIRE)--#AmentumWin--Amentum, a leading contractor to U.S. federal and allied governments, has been awarded a $43 million task order to support the Program Executive Officer for Unmanned Aviation and Strike Weapons (PEO U&W), Aerial Targets Program Office (PMA-208) and Naval Air Warfare Center Weapons Division.

Amentum will provide technical program management and logistical life cycle support for surface combatants and major, multi-service targets, range, and training programs under the five-year, cost-plus, fixed-fee task order, awarded under the Responsive Strategic Sourcing for Services indefinite-delivery, indefinite-quantity (RS3 IDIQ) contract vehicle.

“We are excited to support PEO U&W with our premier systems integration and engineering services,” said Jill Bruning, president of Amentum’ s Intelligence, Systems Engineering, Security, Services and Solutions (IS4) strategic business unit. “Amentum has a long history of supporting our Navy customers, and we look forward to this opportunity to extend our support from the waterfront to Navy ranges.”

Under the task order, Amentum will provide experts focused on acquisition and production, maintenance planning, repair, supply support, test equipment, operations and use, technical data, training and training support, program development, facilities, designing interface, packaging, handling, storage and transportation in support of the effort.

Work will primarily take place at Point Mugu and China Lake, Calif., and Patuxent River, Md., as well as other locations within and outside the U.S.

About Amentum

Amentum is a premier global technical and engineering services partner supporting critical programs of national significance across defense, security, intelligence, energy and environment. We draw from a century-old heritage of operational excellence, mission focus, and successful execution underpinned by a strong culture of safety and ethics. Headquartered in Germantown, Md., we employ more than 34,000 people in all 50 states and perform work in 105 foreign countries and territories. Visit us at amentum.com to explore how we deliver excellence for our customers’ most vital missions.

For Amentum:
Christine Fuentes
+1 (540) 935-9597
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Follow @Amentum_corp on Twitter

AutoGrid Flex enables the 25MW/25MWh system to regulate frequency and support stability of French transmission grid

REDWOOD CITY, Calif.--(BUSINESS WIRE)--AutoGrid, the market leader in AI-powered flexibility management software for the energy industry, deploys award-winning AutoGrid Flex™ Virtual Power Plant (VPP) platform to provide frequency regulation capabilities to Total SE for its largest battery-based energy storage project in France, a 25MW/25MWh lithium-ion system at the Flandres Center in Dunkirk’s port district.

The AutoGrid Flex integrated flexibility management suite enables the system to provide stability to the French power grid in real time (less than 500 milliseconds) and supports Total’s participation in Europe’s Frequency Containment Reserves (FCR) market. AutoGrid Flex controls the project’s end-to-end market reserve purchasing from Reseau Transport Electricité (RTE), the electricity transmission system operator of France. Currently in operation, the €15 million system is based on Saft’s Intensium® Max 20 High Energy solution with 11 integrated 2.3 MWh containers.

“Tapping the AutoGrid platform for this milestone project has allowed us to bring for more flexibility on France’s power grid, enabling a more stable and reliable network, and opening up new opportunities in the FCR market,” said Jean-Marc Simandoux, VP Front Office, Trading Division, Gas Renewables & Power at Total. “Our prior work utilizing AutoGrid’s platform, and the company’s successful track record of project delivery on this project, assures us we’re tapping a power trading market-leading partner.”

Total Flex will operate the largest battery on the FCR market and monetize capacity accounting for up to 3% of the French market (total size of 650MW).

“We’re proud to provide the technical foundation for this pioneering deployment for the European grid and for batteries’ participation in frequency regulation markets worldwide,” said Amit Narayan, Founder & CEO, AutoGrid. “Working with an energy major like Total, provides significant thrust to our efforts of accelerating the deployment of storage and renewable energy across the globe.”

Total has also been a minority investor in AutoGrid through its corporate venture capital arm Total Carbon Neutrality Ventures since 2016, thus supporting early on AutoGrid’s vision of smart energy networks.

About AutoGrid:

AutoGrid builds AI-powered software solutions that enable a smarter energy world. The company’s suite of flexibility management applications allows utilities, electricity retailers, renewable energy project developers and energy service providers to deliver clean, affordable and reliable energy by managing networked distributed energy resources (DERs) in real time, at scale through different value streams. AutoGrid’s flagship application, AutoGrid Flex, is ranked as the #1 Virtual Power Plant Platform in the world according to the global ranking published in 2020 by industry-leading research and analysis firm Guidehouse (formerly, Navigant Research).

Media
AutoGrid
Leo Traub
Antenna Group for AutoGrid
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HOUSTON--(BUSINESS WIRE)--Waste Management, Inc. (NYSE: WM) today announced the declaration of a quarterly cash dividend of $0.575 per share payable March 26, 2021 to stockholders of record on March 12, 2021.

ABOUT WASTE MANAGEMENT

Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com.

Waste Management
Website
www.investors.wm.com

Analysts
Ed Egl
713.265.1656
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Media
Janette Micelli
602.579.6152
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—Redwood to expand technology capabilities and digital freight marketplace access with Blue Yonder’s dynamic price discovery service—

CHICAGO & SCOTTSDALE, Ariz.--(BUSINESS WIRE)--#AI--Redwood Logistics (Redwood), one of the fastest-growing supply chain and logistics companies in North America, launches its real-time Rating API offering and announces the solution’s integration with Blue Yonder’s dynamic price discovery service. This connection will expose instant truckload rates to any customer directly within their TMS (or any other application), providing guaranteed capacity and superior buying capabilities to shippers of all sizes.

Redwood’s Rating API solution uses algorithmic load matching to provide customers with on-demand pricing and booking using a real-time API connection that integrates directly into existing transportation management systems (TMS). The Rating API adds another asset to Redwood’s integrated LPaaS (Logistics Platform as a Service) model, which connects its customers to the best industry solutions, services, people and technology via RedwoodConnect™. RedwoodConnect™ is a proprietary, turnkey supply chain integration platform-as-a-service (iPaaS) designed to streamline the most complex integration cases.

“Our Rating API is the latest result from Redwood’s overall mission, to simplify connections and bridge communications between a company’s disparate technology platforms to improve operations,” said Michael Reed, Chief Product Officer, Redwood Logistics. “Perhaps most importantly, in addition to providing superior speed—the solution allows our customers to quote and book in a matter of seconds—the product is built on top of our proprietary, machine learning pricing module that delivers reliable service and guaranteed capacity for our shippers.”

Blue Yonder’s dynamic price discovery provides real-time digital connectivity for freight management, reducing shipping costs, and increasing profitability for shippers and freight carriers. The dynamic price discovery service is part of the Blue Yonder Network, built on the Blue Yonder Luminate™ Platform, powered by Microsoft Azure. The Luminate Platform combines data from both internal and external sources—spanning shippers’ digital supply chain ecosystems—to leverage both artificial intelligence and machine learning, enabling smarter and more actionable business decisions.

“Working with a tech-forward company like Redwood Logistics to integrate our dynamic price discovery with their RedwoodConnect platform helps save shippers significant time and money while also providing faster speed to automation, improved visibility and better control. The integration will also drive more volume for Redwood Logistics, which is celebrating 20 years of innovation as it looks to continue to grow,” said Terry Norton, vice president, 3PL & Transportation, Blue Yonder.

Backed by Redwood’s 20 years of supply chain experience, the Rating API connects customers with Redwood’s prebuilt, robust carrier and private capacity networks, enabling one-click access to hundreds of carriers with a drag and drop functionality that delivers speed, security and scalability.

For more information on Redwood’s Rating API, please visit https://www.redwoodlogistics.com/service/move/rating-api/.

For more information on Blue Yonder’s dynamic price discovery service, please visit https://blueyonder.com/knowledge-center/collateral/dynamic-price-discovery-solution-sheet and https://blueyonder.com/knowledge-center/collateral/dynamic-freight-management-white-paper.

About Blue Yonder

Blue Yonder is the world leader in digital supply chain and omni-channel commerce fulfillment. Our intelligent, end-to-end platform enables retailers, manufacturers and logistics providers to seamlessly predict, pivot and fulfill customer demand. With Blue Yonder, you can make more automated, profitable business decisions that deliver greater growth and re-imagined customer experiences. Blue Yonder - Fulfill your Potential™ blueyonder.com

“Blue Yonder” is a trademark or registered trademark of Blue Yonder Group, Inc. Any trade, product or service name referenced in this document using the name “Blue Yonder” is a trademark and/or property of Blue Yonder Group, Inc. All other company and product names may be trademarks, registered trademarks or service marks of the companies with which they are associated.

About Redwood Logistics

Redwood Logistics, a leading logistics platform company headquartered in Chicago, has provided solutions for moving and managing freight for more than 18 years. The company’s diverse portfolio includes digital freight brokerage, flexible freight management, and innovative platform services that simplify integrating disparate supply chain technology. Redwood Logistics connects its distinct roster of customers to the power of supply chain management, technology, and the industry’s brightest minds. For more information, connect with us by visiting our website.

Redwood Media Inquiries:
Allison Mills
LeadCoverage
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706-200-2148

Blue Yonder Media Inquiries:
Marina Renneke, APR
Blue Yonder
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480-308-3037

Managing Broker Matt Carr Will Lead 10 Brokers Out of the Knoxville Office

GREENVILLE, S.C.--(BUSINESS WIRE)--#agland--National Land Realty, the nation’s fastest growing real estate land brokerage company specializing in farm, ranch, country estate, timber, recreational, and commercial development properties, today announced that it has partnered with 149-year old Windrock Land Company, through its subsidiary, Windrock Resources, to continue providing rural land real estate services to East Tennessee. The Knoxville office will be headed up by Managing Broker Matt Carr.

“Matt has built a tremendous business in East Tennessee in his dual role as a land professional with National Land Realty and a Forester with Windrock Land Company," said Jason Burbage, President of National Land Realty. "He has been a great help in bringing this venture to fruition that will allow us to benefit from Windrock’s extensive presence across the Volunteer State and give Windrock access to our state-of-the-art technology, marketing, and support capabilities. In addition, they’ll be able to tap into our national team of expert brokers to leverage their unique knowledge and to do deals around the country.”

Windrock brings nearly 150 years of unparalleled expertise in land and forestry management – timber, oil and gas, and commercial – which will greatly enhance National Land Realty’s ability to deliver value to clients across the state.

“National Land Realty has a powerful brand and the best technology available for buying and selling land,” said Carr, who has been a land professional with NLR since 2016 and a Field Supervisor and Forester with Windrock since 2013. “This partnership will help both companies innovatively and aggressively expand our brokerage business. The synergy between the two companies will result in great service for clients and set the platform for explosive growth in 2021 and beyond.”

Highly regarded for its proprietary land touring technology, Land Tour 360™, as well as its GIS land mapping system, LandBase™, which catalogs land data in extremely detailed ways, National Land Realty makes it easy for customers to view and zero in on the right property in the right place.

About National Land Realty

National Land Realty (NLR) is the nation’s fastest growing real estate land brokerage company specializing in farm, ranch, country estates, timber, recreational, and commercial development properties. Highly regarded for its proprietary land touring technology, Land Tour 360™, as well as its GIS land mapping system, LandBase™, which catalogs land data in extremely detailed ways, the company makes it easy to view and zero in on the right property in the right place. Founded in Greenville, SC, in 2007, NLR currently has 79 offices in 37 states. To learn more visit www.nationalland.com or call (855) 384-5263.

About Windrock Land Company

Windrock Land Company (formerly The Coal Creek Company) was established in 1872. The Company currently owns and manages over 73,000 acres in East Tennessee located in Anderson, Campbell, Morgan, and Roane Counties. Windrock operates Windrock Park, the largest privately-owned Off Highway Vehicle park in the United States and is engaged in management of timber harvesting and oil/gas development. Windrock also operates Southeastern Forest Management, a full service timber management firm. Windrock’s corporate headquarters are in Knoxville, Tennessee. More info at https://windrockland.com/.

Ray Young
Razor Sharp PR
512.633.6855
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ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, has again been recognized by Ethisphere as one of the 2021 World’s Most Ethical Companies.

The announcement marks the third consecutive year that AVANGRID has earned the designation from Ethisphere, a global leader in defining and advancing the standards of ethical business practices. AVANGRID is one of only nine honorees globally in the Energy and Utilities sector in 2021. A total of 135 honorees were recognized spanning 21 countries and 51 industries.

“Having a culture that is rooted in ethical behavior and conduct is fundamental to our aspiration of becoming the leading sustainable energy company in the U.S.,” said Dennis V. Arriola, CEO of AVANGRID. “This recognition is testament to the fact that we operate under the highest ethical standards with a purpose-driven culture of accountability. Receiving this honor from Ethisphere is a tribute to all of our employees at AVANGRID – they make a difference every day.”

Transparency and commitment to continuous improvement are cornerstones of AVANGRID’s corporate governance system. This system is reflected in the management approach to sustainability that engages all levels of the company through the comprehensive lens of our ESG+F strategy (environment, society, governance and financial strength), and serves as a key driver of the company’s business success.

“While addressing the tough challenges of 2020, we saw companies lead – above all other institutions – on earning the trust of stakeholders through resilience and a commitment to ethics and integrity,” said Ethisphere CEO, Timothy Erblich. “The World’s Most Ethical Companies honorees continue to demonstrate an unwavering commitment to the highest values and positively impacting the communities they serve. Congratulations to everyone at AVANGRID for earning the World’s Most Ethical Companies designation.”

Ethics & Performance

Ethisphere’s research supports the conclusion that ethics and financial performance go hand-in-hand. Its annual practice of tracking how the stock prices of publicly traded honorees compare to the Large Cap Index found that listed 2021 World’s Most Ethical Companies outperformed the large cap sector over five years by 7.1 percent. This “Ethics Premium” forms the basis upon which companies can correlate responsible behavior with shareholder value.

Methodology & Scoring

Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.

This year, the process was streamlined, and the question set was expanded to gauge how applicants are adapting and responding to the global health pandemic, environmental, social, and governance factors, safety, equity, and inclusion and social justice.

Honorees

The full list of the 2021 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with approximately $36 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 6,600 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute. For more information, visit www.avangrid.com.

About the Ethisphere Institute: The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.

AVANGRID Media:
Athena Hernandez
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203-231-2146

Nationwide building portfolio leverages real-time energy and AI for deep insights and autonomous facility operations

DALLAS--(BUSINESS WIRE)--#AI--New York based Innovatus Capital Partners (“Innovatus”), a boutique specialty finance firm with over $1.5 billion in assets under management, focused on creating value in special situations, emergent asset classes and asset-based investments, including a diversified portfolio of U.S. commercial office properties located in emergent top-tier markets, is deploying Verdigris’ artificial intelligence (AI) technology across its national commercial building portfolio. Verdigris, a global leader in real-time responsive energy intelligence, combines its IoT energy sensors and adaptive and autonomous building solutions to cost-effectively manage energy consumption and optimize operations in smart buildings.

“Innovatus has seen tangible reductions in our energy costs, along with other unexpected benefits such as identifying equipment scheduling issues at several of our buildings. The Verdigris deployment model, analytics and automation are extremely valuable to our investment strategy for identifying disruptive growth opportunities,” said Bradley Seiden, Managing Director at Innovatus Capital Partners. “Verdigris is a tested and proven energy management solution, delivering real-time insights and automatic optimization that are ahead of other solutions in the marketplace and are adaptive to the needs of our buildings in each market.”

In the first phase of energy-saving automation, Innovatus has deployed Verdigris’ Adaptive Automation^TM at the Westwood Corporate Center, a premier five-story, 120k sqft, Class A office building in Orlando. During this phase, Verdigris AI has already identified measurable annual savings in both baseload and peak demand optimization. These savings are achieved automatically, with no additional effort or attention by the facility engineering team, freeing them up to focus on other projects. To expand on the success of this first phase, savings can be further enhanced by automating additional HVAC equipment. Innovatus and Verdigris look forward to creating a truly “self-driving” building. Westwood Corporate Center is managed by Lincoln Property Company.

“Lincoln Property Company is very excited to be working with Innovatus Capital Partners and Verdigris on these very unique AI enhanced energy initiatives that we truly believe sets on a unique path to maximizing energy conservation while effectively maintaining tenant comfort within our office buildings,” said Edward J. Price, Senior Vice President for Lincoln Property Company Southeast.

By applying AI and machine learning in real-time to the precision data that Verdigris sensors capture, Verdigris delivers insights on granular energy issues that other systems miss. Facility and property managers can act at optimal times or implement automated responses to improve energy efficiency, address potentially critical issues, and reduce downtime.

Commercial real estate owners increase net operating income by cutting energy costs. Meanwhile, occupants enjoy an optimized environment enabled by AI-enhanced building controls. Verdigris' non-intrusive IoT sensors work alone or in synergy with building management systems. Customers have achieved fast ROI, often within months, by decreasing energy costs 20% or more.

“We’re helping companies survive and thrive in a dynamic period of digital transformation while navigating Covid, economic turbulence, the increasing impact of climate change, and sustainability legislation. To do that, buildings and industry need cost-effective and scalable data and AI solutions that enable intelligent environments to align the interests of building owners, operators and occupants,” said Thomas Chung, Head of Growth at Verdigris.

Verdigris’ patented technology monitors granular energy consumption and power quality details for individual devices at thousands of times per second, detecting hidden issues that most other systems miss and automating responses for optimized “driverless” buildings.

About Innovatus

Innovatus Capital Partners, LLC is a boutique specialty finance firm focused on creating value for investors in emergent asset classes, private credit and asset-based investments, based in New York. Innovatus has assets under management in excess of $1.5 billion. Innovatus has a dedicated team of real estate investment professionals with deep experience in commercial real estate acquisitions, recapitalizations and asset management across core-plus and opportunistic real estate investments amongst all property types including office, retail, hotel, medical, industrial and warehouse. Innovatus and its principals have significant real estate experience with ventures that range from the creation of a CMBS lending group and servicing platform to making equity investments in developments and single asset purchases. Further information can be found at innovatuscp.com.

About Verdigris

Verdigris Technologies is a leading AI company that empowers the world’s smartest buildings with data, insights and automation. Through artificial intelligence and IoT-enabled sensors, Verdigris ‘learns’ and distinguishes the equipment components of commercial buildings, providing rich data streams about critical equipment. Powerful analytics constantly scan this data to find hidden inefficiencies, produce actionable reports and empower building managers to optimize facilities management. Among other honors, Verdigris was named one of the top ten Most Innovative Companies in Energy by Fast Company and selected as the Frost and Sullivan Technology Innovation Leader in the North American AI-based Energy Management and Automation Industry. Verdigris is headquartered at the NASA Ames Research Park in Silicon Valley, California with offices in the US and Taiwan. See verdigris.co for recent press and testimonials. For more information, please contact Media Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..

About Lincoln Property Company

Lincoln Property Company is one of the largest and most diversified real estate services firm in the United States and is the only national real estate company to rank concurrently in the top 10 of Management/Ownership of Office, Industrial, Multi-family, and Retail. With an international footprint that includes offices in 45 cities across the United States and 6 cities in Europe and South America, LPC remains a privately and closely held company. As a matter of corporate intention and philosophy, the company has operated virtually debt-free since the early 1990’s, uniquely positioning itself to provide focus and performance as well as consistency and stability to its clients and employees in the economically challenging times of today. This corporate philosophy combined with over 50 years of global real estate is what differentiates LPC from other service providers and real estate companies.

Bradley Seiden, + 1 (917) 873-0332
Managing Director
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www.innovatuscp.com

Thomas Chung, +1 (512) 784-6431
Head of Growth
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Edward J. Price, + 1 (407) 872-3500
Senior Vice President
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COLUMBIA, Md.--(BUSINESS WIRE)--GSE Systems, Inc. (“GSE Solutions” or “GSE”) (Nasdaq: GVP), a leader in delivering end-to-end training, engineering, compliance, simulation, and workforce solutions that support decarbonization of the power industry, today announced that Kyle Loudermilk, President and Chief Executive Officer, and Emmett Pepe, Chief Financial Officer, are scheduled to present at Diamond Equity Research Emerging Growth Invitational, to be held virtually on February 24, 2021. Below are the Company’s presentation details:

Diamond Equity Research Emerging Growth Invitational | Virtual Conference
Date: February 24, 2021
Presentation time: 11:40 a.m. ET
Presentation link: https://us02web.zoom.us/webinar/register/WN_Vl72KyAsQiOXTEk_iywJUA

ABOUT GSE SOLUTIONS

We are the future of operational excellence in the power industry. As a collective group, GSE Solutions leverages top skills, expertise, and technology to provide highly specialized solutions that allow customers to achieve the performance they imagine. Our experts deliver and support end-to-end training, engineering, compliance, simulation, and workforce solutions that help the power industry reduce risk and optimize plant operations. GSE is proven, with over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. www.gses.com

Media
Sunny DeMattio, GSE Solutions
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P: +1 410.970.7931

Investors
Kalle Ahl, The Equity Group
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P: +1 212.836.9614

Summary: A growing global population will need energy from a range of sources. Scientists at Argonne National Laboratory have been pioneering solutions for 75 years.

LEMONT, Ill.--(BUSINESS WIRE)--#Argonneat75--The defining challenge of this century will be to meet the energy needs of a global population expected to reach nearly 10 billion by 2050 while slashing the balance of planet-warming greenhouse gases entering the atmosphere to nearly zero.

To meet this challenge, the U.S. Department of Energy's (DOE) Argonne National Laboratory pursues an ambitious portfolio of research to support a 100% clean-energy economy. This includes work to modernize the U.S. electric grid, create advanced materials for solar cells and batteries, design portable nuclear micro reactors and accelerate more efficient ways of getting around.

For the electric grid, Argonne has created specialized computer models and tools, some of which incorporate artificial intelligence. These can provide utilities with data-based guidance for planning for scenarios ranging from hurricanes to earthquakes to cyberattacks. Argonne's Hurricane Electric Assessment Damage Outage (HEADOUT) modeling tool, for example, forecasts likely power outages after a storm.

For next-generation energy storage that can power electric vehicles and support renewable energy on the grid, Argonne researchers are exploring different materials that may be less expensive and easier to obtain than current battery ingredients. At the ReCell Center, they are also finding methods to recover those materials from spent batteries to reduce our reliance on foreign sources.

Generating and storing power is only part of the picture. In a society that’s increasingly connected on a global scale, we need to rethink how we move both people and goods. Argonne scientists who have worked for decades on ways to improve efficiency and reduce emissions from gas-fueled cars and trucks are also turning to aviation, electric and self-driving cars, hydrogen fueling and other aspects of mobility.

Argonne, which marks its 75^th anniversary this year, today is building on decades of pioneering leadership and pivotal discoveries. Collaborating with experts from across research institutions and industries, we’re now developing tomorrow's energy solutions to scale up and deploy across the U.S. and the world.

Media Contact
Christopher J. Kramer
Head of Media Relations
Argonne National Laboratory
Office: 630.252.5580

Ms. Santos Brings Almost Four Decades of Experience and Industry-Recognized Performance in Customer Service, Operations and Integration

SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) today announced the appointment of Marlene Santos as Executive Vice President and Chief Customer Officer effective March 15, 2021. Ms. Santos will be responsible for a broad range of services and teams that support the more than 16 million people that PG&E serves in Northern and Central California. This includes PG&E’s customer contact centers; programs supporting energy efficiency, electric vehicles, rooftop solar, demand response and low-income customers; billing, metering and account services; marketing and communications; and Regional Leadership Teams that PG&E will form as part of its regionalization efforts. She will report to Patti Poppe, PG&E Corporation’s Chief Executive Officer.

“I truly believe that every decision we make at PG&E must begin with our customers at the forefront. I am excited to have Marlene join our team and bring her deep experience in delivering outstanding, industry-recognized customer service that is known for its innovation and customer centricity. She brings both her keen skillset and her caring heart to our work. I know our entire team will look forward to working with Marlene as we strive to deliver better experiences and outcomes for the customers we are privileged to serve,” said Ms. Poppe.

For the past two years, Ms. Santos served as President of Gulf Power Company, a subsidiary of NextEra Energy, Inc. (NextEra). Prior to that, she served as NextEra’s Chief Integration Officer for the company’s acquisition of Gulf Power and two other acquisitions. During her nearly 40-year career with NextEra, she served in several other senior operational and leadership roles including Vice President, Customer Service for Florida Power & Light Company (FPL). Ms. Santos brings a wide breadth of experience including delivering best-in-class customer service, safety improvements, digital transformation, smart grid enablement, data analytics and artificial intelligence deployment, cultural transformation, and emergency response to natural disasters.

“I am honored to join Patti and the PG&E team. California and its customers are on the cutting edge of innovation and clean energy, and PG&E’s customer service approach must reflect those guiding principles. I know our 25,000 coworkers are engaged and working hard every day to deliver safe, reliable, affordable and clean energy to the homes and businesses of Northern and Central California. I look forward to listening to and understanding our customers’ needs so that we can continuously improve our customers’ experience in the years ahead,” said Ms. Santos.

In her two years as President of Gulf Power Company, Ms. Santos led the work that has improved safety by over 90%, reduced operating costs by almost 30%, reduced carbon dioxide emissions by nearly 20%, and improved reliability by 50%.

Ms. Santos joined FPL in 1981 and served in positions of increasing responsibility in the areas of finance, marketing and customer service. Under her leadership, FPL was consistently recognized for providing outstanding customer service, including the J.D. Power Award for ranking highest in residential customer satisfaction among large utilities in the South. FPL also was named a “Utility Customer Champion” for outstanding performance among the nation’s leading utilities by Market Strategies International in both 2016 and 2015; and received the prestigious ServiceOne Award for excellent customer service among utilities in the United States and Canada for an unprecedented 10 consecutive years.

Ms. Santos graduated summa cum laude from the University of Miami with both a bachelor’s degree in finance and a master’s degree in business administration. Her committee service has included the Edison Electric Institute (EEI) and the Women in Energy Forum.

About PG&E

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

Media Relations
415.973.5930

• Octopus Energy U.S. enlists one-off Bill Forgiveness Plan for Texas-based customers
• Energy costs for Octopus customers capped at average price of 12.2 c/kWh for week of historic winter storm Uri
• Lee: "Energy suppliers must manage their risks and protect customers from extreme events."

HOUSTON--(BUSINESS WIRE)--Last week, millions of Texans were unexpectedly left without electricity or heat amid record cold temperatures. For those that did have power, many had to decide between turning off their only heat source or paying skyrocketing energy prices to keep their homes warm. While many energy companies are charging customers astronomical prices -- in some cases, upwards of tens of thousands of dollars -- renewable energy retailer, Octopus Energy U.S. (formerly Evolve Energy) is taking a different approach.

Effective immediately, Octopus Energy U.S. is enlisting a one-time Bill Forgiveness Plan for all current customers in Texas. The plan provides forgiveness of any energy bill amount that is in excess of the Energy Information Administration of Texas average price of 12.20 c/kWh for the week of Saturday, February 13th through Friday, February 19th.

The historic nature of this extreme weather event has led to unprecedented demand on the grid, resulting in skyrocketing wholesale pricing for energy. To protect against a future grid failure, a more distributed grid is needed. One that takes energy from renewable, abundant sources like solar and wind, rather than relying on a central grid dependent on fossil fuels and complex machinery and systems. Wholesale products are a critical component of this solution, as dynamic pricing motivates consumers to use clean energy when it is abundant and is essential for allowing more battery storage to come online when it is needed most.

“The lesson everyone should take from the events of the past week is that we are overly reliant on natural gas, which generates more than half of the electricity in Texas,” said Michael Lee, CEO of Octopus Energy U.S. “As climate change increases the frequency and intensity of extreme weather, events like last week will only become more common, requiring forward-thinking, sustainable solutions rather than a continued reliance on fossil fuels or government bailouts to private companies. Private companies must manage their risks and protect customers from extreme events.”

Octopus Energy U.S. is committed to putting new consumer protections in place to ensure what happened in Texas is a one-time event, while also continuing to champion consumer wholesale energy as essential to building a cleaner and greener energy future.

Octopus Energy is one of the most awarded energy companies in the United Kingdom, where the company was founded five years ago, for its customer service. With a customer-first model, the company has gained eight accolades for outstanding service in 2020 alone and Octopus Energy is the only energy supplier to ever gain the Which? Recommended award four years in a row. Founded by technology entrepreneurs, Octopus Energy has a different starting point to other suppliers, aiming to redefine what is possible for consumers and the energy system by using technology and data to deliver the best products and experiences.

About Octopus Energy

Octopus Energy Group is a technology-driven, renewable energy retailer, directly supplying 2 million customers globally with 100% green electricity at a cheaper price and with a focus on outstanding customer service. Founded in the U.K. five years ago, Octopus Energy entered the U.S. market in 2020, forming Octopus Energy U.S. and fueling the company’s global expansion. Octopus Energy is valued at over $2 billion and is the U.K.’s fastest-growing private company. To learn more, visit: www.octopusenergy.com

Media Contact:
Molly Hendriksen
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Amid pandemic, honor recognizes continued focus on integrity, culture and ESG

MINNEAPOLIS--(BUSINESS WIRE)--#WorldsMostEthicalCompanies--For the second year in a row, Xcel Energy has been named one of the World’s Most Ethical Companies® by Ethisphere, a global leader in defining and advancing the standards of ethical business practices.

Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain.

The survey was expanded this year to recognize how companies have adapted and responded to the COVID-19 pandemic, in addition to commitments to environmental, social and governance issues, safety, equity, and inclusion and social justice.

“We’re honored to again be recognized one of the 2021 World’s Most Ethical Companies,” said Ben Fowke, president, and CEO of Xcel Energy. “I am very proud of how Xcel Energy has maintained its commitment to our core values and clean energy goals, despite the challenges brought on by the pandemic.”

Xcel Energy is the first major U.S. electricity provider to commit to reducing carbon emissions 80% from 2005 levels by 2030, with a vision of providing 100% carbon-free electricity by 2050, and today the company is more than halfway to its goal, having reduced carbon emissions 51%, a record 12% drop in a single year.

Xcel Energy is one of only nine honorees in the Energy & Utilities category, and one of only four companies in the United States in that group.

The full list of the 2021 World’s Most Ethical Companies can be found at: https://worldsmostethicalcompanies.com/honorees.

About Xcel Energy

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

About the Ethisphere Institute

The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.

Xcel Energy Media Relations
(612) 215-5300
www.xcelenergy.com

• Full year 2020 financial performance meets low end of guidance range despite challenges of COVID-19
• Reported net loss of $2.6 million and $6.8 million for the fourth quarter and year ended December 31, 2020, respectively
• Reported adjusted EBITDA of $17.4 million and $94.9 million for the fourth quarter and year ended December 31, 2020, respectively
• Generated distributable cash flow of $0.8 million and $39.7 million for the fourth quarter and year ended December 31, 2020, respectively
• Releases 2021 Financial Guidance

KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (Nasdaq:MMLP) (the "Partnership") today announced its financial results for the three months and year ended December 31, 2020.

"We entered 2020 with a confident outlook and for very good reason. Our fourth quarter and full year 2019 results exceeded our guidance and we were executing on our priorities of strengthening the balance sheet and reducing leverage," stated Bob Bondurant, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of the Partnership. "However, by March the impacts on refinery utilization due to demand destruction from COVID-19 were beginning to become apparent and there was, and continues to be, no clear line of sight to the end, although we do see reasons for optimism.

"Despite the difficulties associated with the pandemic and the specific challenges to our industry we were able to meet the low end of our full year guidance even though the fourth quarter fell short of our expectations. Headwinds in both our Transportation and NGL segments impacted our results significantly. In the Transportation segment, as expected, reduced refinery utilization resulted in lower demand for our marine assets. In the NGL segment, the backwardation of the butane price curve led refineries to delay purchases anticipating a lower price environment in the first quarter of 2021. This negatively impacted our fourth quarter sales volumes, specifically in December, resulting in a misalignment between physical sales and financially hedged volumes.

"As we look to 2021, I am optimistic that refinery utilization will continue to increase as demand rises as a result of widespread vaccinations, government stimulus and a rebounding economy. Our businesses remain solid with approximately 62% of our cash flows tied to fixed-fee contracts. We will continue to focus on optimizing utilization of our asset base, reducing costs, and generating consistent cash flows to meet our leverage reduction goals and return value to our unitholders."

FOURTH QUARTER 2020 OPERATING RESULTS BY BUSINESS SEGMENT

TERMINALLING AND STORAGE ("T&S")

T&S Operating Income for the three months ended December 31, 2020 and 2019 was $12.6 million and $2.6 million, respectively.

Adjusted segment EBITDA for T&S was $10.6 million and $11.5 million for the three months ended December 31, 2020 and 2019, respectively, reflecting reduced operating expenses from lower repairs and maintenance and labor cost at our Specialty Terminals, improved margins on packaged lubricants products from lower production cost and operating efficiencies. These were offset by reduced throughput volume and rates at our Shore-Based Terminals and expired capital recovery fees at the Smackover Refinery as well as decreased fees related to a crude pipeline gathering rate adjustment.

TRANSPORTATION

Transportation Operating Income for the three months ended December 31, 2020 and 2019 was an operating loss of $2.3 million and operating income of $5.5 million, respectively.

Adjusted segment EBITDA for Transportation was $1.7 million and $9.1 million for the three months ended December 31, 2020 and 2019, respectively, reflecting lower marine utilization and reduced day rates along with lower land transportation load count related to demand destruction and lower refinery utilization as a result of COVID-19.

SULFUR SERVICES

Sulfur Services Operating Income for the three months ended December 31, 2020 and 2019 was $4.7 million and $4.6 million, respectively.

Adjusted segment EBITDA for Sulfur Services was $7.4 million for both the three months ended December 31, 2020 and 2019, respectively. Within the segment, the Fertilizer division results recovered when compared to last year as a result of improved planting conditions and higher commodity prices. This was offset by lower results for the Sulfur division as margins decreased in our sulfur trading business and 2019 results benefited from business interruption insurance proceeds.

NATURAL GAS LIQUIDS ("NGL")

NGL Operating Income for the three months ended December 31, 2020 and 2019 was $1.5 million and $9.5 million, respectively.

Adjusted segment EBITDA from continuing operations for NGL was $2.0 million and $11.4 million for the three months ended December 31, 2020 and 2019, respectively, primarily as a result of reduced demand in our butane optimization business due to the impact of COVID-19 on refinery utilization and backwardation of the forward price curve delaying refinery purchases causing misalignment of our physical sales and financially hedged volumes.

UNALLOCATED SELLING, GENERAL AND ADMINISTRATIVE EXPENSE ("USGA")

USGA expenses included in operating income were $4.6 million and $4.2 million for the three months ended December 31, 2020 and 2019, respectively.

USGA expenses included in adjusted EBITDA were $4.3 million and $3.9 million for the three months ended December 31, 2020 and 2019, respectively, primarily as a result of the 2019 period including insurance recoveries related to the settlement of an insurance claim which offset legal expense during that period.

2021 FINANCIAL GUIDANCE

The Partnership expects to generate Adjusted EBITDA between $95 million and $102 million for 2021. Guidance assumptions include increases to refined product demand beginning in the second half of the year as vaccines are more widely distributed, travel restrictions are lifted and the global economy recovers from the COVID-19 pandemic.

The Partnership intends to update and provide more detailed guidance when visibility to refined product demand and refinery utilization improves throughout the year.

The Partnership has not provided comparable GAAP financial information on a forward-looking basis because it would require the Partnership to create estimated ranges on a GAAP basis, which would entail unreasonable effort as the adjustments required to reconcile forward-looking non-GAAP measures cannot be predicted with a reasonable degree of certainty but may include, among others, costs related to debt amendments and unusual charges, expenses and gains. Some or all of those adjustments could be significant.

LIQUIDITY

At December 31, 2020, the Partnership had $148 million drawn on its $300 million revolving credit facility, a $57 million decrease from September 30, 2020. The decrease was attributable to the seasonal inventory liquidation in the NGL segment as working capital declined by $23.6 million and we received net proceeds of $20.7 million from the Mega Lubricants disposition. As previously announced, on August 12, 2020, the Partnership successfully completed an exchange offer and cash tender offer for its senior unsecured notes due February 2021. At December 31, 2020, the Partnership had the following outstanding senior notes: senior unsecured notes due 2021 ("2021 Notes") of $28.8 million, senior secured notes of $53.8 million due 2024 and senior secured notes of $291.9 million due 2025, for a total of senior notes outstanding of $374.5 million. The Partnership’s leverage ratio, as calculated under the revolving credit facility, was 5.4 times on December 31, 2020 compared to 4.9 times on September 30, 2020. The Partnership is in compliance with all debt covenants as of December 31, 2020. On February 15, 2021, the 2021 Notes matured and the Partnership retired the outstanding balance of $28.8 million using its revolving credit facility.

COVID-19 RESPONSE

The Partnership initiated and continues to evaluate protocols in response to the COVID-19 pandemic which include work from home initiatives to protect the health and safety of our employees as well as the communities where we operate, travel restrictions, and training personnel regarding preventative measures when accessing docks, vessels and operating locations. At this time all facilities are operational and monitored closely.

RESULTS OF OPERATIONS

The Partnership had a net loss from continuing operations for the three months ended December 31, 2020 of $2.6 million, a loss of $0.06 per limited partner unit. The Partnership had net income from continuing operations for the three months ended December 31, 2019 of $6.6 million, or $0.14 per limited partner unit. Adjusted EBITDA from continuing operations for the three months ended December 31, 2020 was $17.4 million compared to the three months ended December 31, 2019 of $35.5 million. Distributable cash flow from continuing operations for the three months ended December 31, 2020 was $0.8 million compared to the three months ended December 31, 2019 of $20.7 million.

The Partnership had no net income, adjusted EBITDA or distributable cash flow from discontinued operations for the three months ended December 31, 2020 or 2019.

The Partnership had a net loss from continuing operations for the year ended December 31, 2020 of $6.8 million, a loss of $0.17 per limited partner unit. The Partnership had net income from continuing operations for the year ended December 31, 2019 of $4.5 million, or $0.11 per limited partner unit. Adjusted EBITDA from continuing operations for the year ended December 31, 2020 was $94.9 million compared to the year ended December 31, 2019 of $108.3 million. Distributable cash flow from continuing operations for the year ended December 31, 2020 was $39.7 million compared to the year ended December 31, 2019 of $41.8 million.

The Partnership had no net income from discontinued operations for the year ended December 31, 2020 compared to a loss of $179.5 million, or $4.55 per limited partner unit, for the year ended December 31, 2019. The Partnership had no adjusted EBITDA from discontinued operations for the year ended December 31, 2020 compared to $10.7 million for the year ended December 31, 2019. The Partnership had no distributable cash flow from discontinued operations for the year ended December 31, 2020 compared to $9.8 million for the year ended December 31, 2019.

Revenues for the three months ended December 31, 2020 were $180.1 million compared to the three months ended December 31, 2019 of $241.9 million. Revenues for the year ended December 31, 2020 were $672.1 million compared to the year ended December 31, 2019 of $847.1 million.

Distributable cash flow from continuing operations, distributable cash flow from discontinued operations, EBITDA, adjusted EBITDA from continuing operations, and adjusted EBITDA from discontinued operations are non-GAAP financial measures which are explained in greater detail below under the heading "Use of Non-GAAP Financial Information." The Partnership has also included below a table entitled "Reconciliation of EBITDA, Adjusted EBITDA from continuing operations, and Distributable Cash Flow" in order to show the components of these non-GAAP financial measures and their reconciliation to the most comparable GAAP measurement.

An attachment included in the Current Report on Form 8-K to which this announcement is included, contains a comparison of the Partnership’s Adjusted EBITDA for the fourth quarter 2020 to the Partnership's Adjusted EBITDA for the fourth quarter 2019.

Investors' Conference Call

Date: Tuesday, February 23, 2021
Time: 8:00 a.m. CT (please dial in by 7:55 a.m.)
Dial In #: (833) 900-2251
Conference ID: 9494038

Replay Dial In # (800) 585-8367 – Conference ID: 9494038
Webcast & Presentation: Fourth Quarter 2020 Earnings Conference Call

About Martin Midstream Partners

Martin Midstream Partners L.P., headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.

Forward-Looking Statements

Statements about the Partnership’s outlook and all other statements in this release other than historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements and all references to guidance or to financial or operational estimates or projections rely on a number of assumptions concerning future events and are subject to a number of uncertainties, including (i) the current and potential impacts of the COVID-19 pandemic generally, on an industry-specific basis, and on the Partnership’s specific operations and business, (ii) the effects of the continued volatility of commodity prices and the related macroeconomic and political environment, and (iii) other factors, many of which are outside its control, which could cause actual results to differ materially from such statements. While the Partnership believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in anticipating or predicting certain important factors. A discussion of these factors, including risks and uncertainties, is set forth in the Partnership’s annual and quarterly reports filed from time to time with the Securities and Exchange Commission. The Partnership disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events, or otherwise except where required to do so by law.

Use of Non-GAAP Financial Information

The Partnership's management uses a variety of financial and operational measurements other than its financial statements prepared in accordance with United States Generally Accepted Accounting Principles ("GAAP") to analyze its performance. These include: (1) net income before interest expense, income tax expense, and depreciation and amortization ("EBITDA"), (2) adjusted EBITDA and (3) distributable cash flow. The Partnership's management views these measures as important performance measures of core profitability for its operations and the ability to generate and distribute cash flow, and as key components of its internal financial reporting. The Partnership's management believes investors benefit from having access to the same financial measures that management uses.

EBITDA, Adjusted EBITDA from Continuing Operations, and Adjusted EBITDA from Discontinued Operations. Certain items excluded from EBITDA, adjusted EBITDA from continuing operations, and adjusted EBITDA from discontinued operations are significant components in understanding and assessing an entity's financial performance, such as cost of capital and historical costs of depreciable assets. The Partnership has included information concerning EBITDA, adjusted EBITDA from continuing operations, and adjusted EBITDA from discontinued operations because it provides investors and management with additional information to better understand the following: financial performance of the Partnership's assets without regard to financing methods, capital structure or historical cost basis; the Partnership's operating performance and return on capital as compared to those of other similarly situated entities; and the viability of acquisitions and capital expenditure projects. The Partnership's method of computing adjusted EBITDA may not be the same method used to compute similar measures reported by other entities. The economic substance behind the Partnership's use of adjusted EBITDA is to measure the ability of the Partnership's assets to generate cash sufficient to pay interest costs, support its indebtedness and make distributions to its unitholders.

Distributable Cash Flow and Distributable Cash Flow from Discontinued Operations. Distributable cash flow is a significant performance measure used by the Partnership's management and by external users of its financial statements, such as investors, commercial banks and research analysts, to compare basic cash flows generated by the Partnership to the cash distributions it expects to pay unitholders. Distributable cash flow is also an important financial measure for the Partnership's unitholders since it serves as an indicator of the Partnership's success in providing a cash return on investment. Specifically, this financial measure indicates to investors whether or not the Partnership is generating cash flow at a level that can sustain or support an increase in its quarterly distribution rates. Distributable cash flow is also a quantitative standard used throughout the investment community with respect to publicly-traded partnerships because the value of a unit of such an entity is generally determined by the unit's yield, which in turn is based on the amount of cash distributions the entity pays to a unitholder.

EBITDA, adjusted EBITDA from continuing operations, adjusted EBITDA from discontinued operations, distributable cash flow, and distributable cash flow from discontinued operations, should not be considered alternatives to, or more meaningful than, net income, cash flows from operating activities, or any other measure presented in accordance with GAAP. The Partnership's method of computing these measures may not be the same method used to compute similar measures reported by other entities.

MMLP-F

Sharon Taylor - Vice President & Chief Financial Officer
(877) 256-6644
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today it will host virtual investor meetings at the following conferences:

• Barclays Midstream & Clean Infrastructure Corporate Access Days on Wednesday, February 24, 2021;
• Barclays IG/HY Energy and Pipeline Corporate Credit Days on Thursday, February 25, 2021;
• THRIVE Energy Conference on Thursday, February 25, 2021;
• Morgan Stanley Energy & Power Conference on Monday, March 1, 2021; and
• Credit Suisse Energy Summit on Wednesday, March 3, 2021.

A copy of the slides used in the meetings will be available on the Enterprise website at www.enterpriseproducts.com under the Investors tab.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.

Enterprise Contacts
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) and Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN) (Brookfield Infrastructure) today jointly announced that they have agreed to sell a 25% minority interest in Natural Gas Pipeline Company of America LLC (NGPL) to a fund controlled by ArcLight Capital Partners, LLC (ArcLight) for $830 million. The proceeds will be shared equally between KMI and Brookfield Infrastructure. The value of the minority interest implies an enterprise value of approximately $5.2 billion for NGPL, which is approximately 11.2 times 2020 EBITDA. Upon closing, KMI and Brookfield Infrastructure will each hold a 37.5% interest in NGPL, and KMI will continue to operate the pipeline.

“Kinder Morgan and Brookfield Infrastructure are pleased to welcome ArcLight into the NGPL joint venture,” said Kinder Morgan Natural Gas Pipelines President Tom Martin. “We believe this investment shows the value of natural gas infrastructure both today and in the decades to come.”

For this transaction, NGPL is served by RBC Capital Markets as the exclusive financial adviser and King and Spalding as the legal advisor. Barclays served as the exclusive financial advisor to ArcLight and has provided a committed debt financing to ArcLight to support the transaction. Latham & Watkins LLP served as legal advisor to ArcLight. The transaction is expected to close in the first quarter of 2021.

NGPL is the largest transporter of natural gas into the high-demand Chicago-area market as well as one of the largest interstate pipeline systems in the country. It is also a major transporter of natural gas to large liquefied natural gas (LNG) export facilities and other markets located on the Texas and Louisiana Gulf Coast. NGPL has approximately 9,100 miles of pipeline, more than 1 million compression horsepower and 288 billion cubic feet (Bcf) of working natural gas storage. NGPL provides its customers access to all major natural gas supply basins directly and through its numerous interconnects with intrastate and interstate pipeline systems.

About Kinder Morgan, Inc.

Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 144 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO₂ and other products, and our terminals store and handle various commodities including gasoline, diesel fuel chemicals, ethanol, metals and petroleum coke. For more information, please visit www.kindermorgan.com.

About Brookfield Infrastructure Partners L.P.

Brookfield Infrastructure Partners is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data infrastructure sectors across North and South America, Asia Pacific and Europe. We are focused on assets that have contracted and regulated revenues that generate stable and predictable cash flows. Investors can access its portfolio either through Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further information is available at www.brookfield.com/infrastructure.

Brookfield Infrastructure Partners is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with approximately US$600 billion of assets under management. For more information, go to www.brookfield.com.

About ArcLight Capital Partners, LLC

ArcLight Capital Partners, LLC (ArcLight) is one of the leading energy infrastructure firms. Founded in 2001, the firm helped pioneer an asset-based approach to investing in the energy sector. ArcLight has invested approximately $23 billion in 111 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists, as well as the firm's 1,500-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight's portfolio companies, can be found at www.arclight.com.

Important Information Relating to Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” “anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning the transaction, including the expected closing, its timing and the anticipated benefits, and the long-term value of natural gas infrastructure. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include the ability of the parties to satisfy customary conditions to closing of the transaction; and the other risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2020 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements.

KINDER MORGAN CONTACTS

Katherine Hill
Media Relations
(713) 469-9176
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Investor Relations
(800) 348-7320
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www.kindermorgan.com

BROOKFIELD INFRASTRUCTURE CONTACTS

Media:
Claire Holland
Senior Vice President, Communications
Tel: (416) 369-8236
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Investors:
Kate White
Manager, Investor Relations
Tel: (416) 956-5183
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 Event and new book to spotlight the utilities, policy makers, and stakeholders that are defining the role of customers in smart grid, smart cities, and the Utility of the Future

PHILADELPHIA--(BUSINESS WIRE)--#EnergyGameChangers--SmartEnergy IP^TM, a division of SmartMark Communications, announced today that it will hold its 2021 Smart Grid Customer Education Symposium virtually on June 8-9, 2021. The Symposium has been the premier event focused on the role of customers in grid modernization for more than a decade, and this year will focus on outstanding accomplishments of individuals and organizations that put customers at the center of their grid modernization plans.

Topics to be addressed at the event include:

• Impact of Customer Education on Carbon Reduction
• Community Engagement and Market Segmentation
• Latest Advancements in Customer Education and Engagement
• Optimizing AMI Investments
• Renewable Energy and the Role of Education in Advancing DER
• Special Considerations for Low Income Customers
• Small Business Strategies
• Smart Homes and Buildings
• Smart Cities and Connected Communities
• The Role of AI in Customer Experience
• Latest Advancements in IoT for Connected Customers and Communities
• Transportation Electrification and the Customer

   

Heeding the Call of The New Administration

This year, the White House has made climate change and a clean energy revolution a top priority. This event is a rallying call for stakeholders in technology and energy production and distribution to help articulate the benefits of smart energy investments for consumers.

“Whether it is the current events in Texas or the priority from the White House to focus on carbon reduction, it is clear that as an industry we must come together to educate consumers on the importance of grid modernization,” said Juliet Shavit, President of SmartMark Communications and Founder of the Symposium. “This unique event has been the go-to industry event for utilities and their stakeholders to share best practices for more than a decade.”

The “Game Changers” Book on Innovation in Energy

SmartEnergy IP is partnering with Electric Energy T&D Magazine to publish a book entitled “Energy Game Changers: People and Ideas That Are Leading the Way to Energy Innovation.” The book will be published after the Symposium and will feature ideas and essays from the event.

The two-day event is free of charge, but guests must be approved to attend. Learn more about speaking opportunities or register to attend at smartgridcustomereducation.com

About the Smart Grid Customer Education Symposium

The Smart Grid Customer Education Symposium is produced by SmartEnergy IP, a division of Smark Communications. The event is the longest-running, most influential gathering of utility industry professionals that meets annually to discuss best practices in smart grid customer education. To learn more about speaking or to register for the event, visit: smartgridcustomereducation.com.

About Electric Energy T&D Magazine

Since its inception, EET&D magazine has been positioned as the go-to resource for the latest on the transmission and distribution side of the global electric energy industry. With this industry in constant flux, not only is the power we use constantly changing, but the ways consumers use that energy is equally dynamic. By staying abreast of regulatory issues, industry trends and standards, business models, technological advances and innovative solutions, EET&D strives to deliver the latest and most relevant news. To learn more or to subscribe, visit electricenergyonline.com

Meredith Salefski
SmartMark Communications
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215-504-4272

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) (ISIN:GB00BDSFG982) is pleased to announce that its subsidiary, FMC Wellhead Equipment Sdn. Bhd. (TechnipFMC) has been awarded a substantial⁽¹⁾ contract by PETRONAS Carigali Sdn. Bhd. (PETRONAS Carigali), a subsidiary of PETRONAS for the provision of front-end engineering design, and integrated engineering, procurement, construction, installation and commissioning of subsea production system, umbilicals, risers and flowlines (iEPCI™) for the Limbayong Deepwater Development Project. PETRONAS is a global energy and solutions partner and ranked amongst the largest corporations in Fortune Global 500®.

This contract covers the development of 10 deepwater wells and their tieback to the Limbayong Floating Production Storage and Offloading (FPSO) unit in Malaysia. TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea trees, manifolds, umbilicals, flexible risers, flowlines, jumpers and other associated subsea hardware for the project.

The project will be executed from TechnipFMC’s Kuala Lumpur office and will leverage its local manufacturing plants in Malaysia.

Jonathan Landes, President Subsea at TechnipFMC commented: “We are delighted and honored to have been selected by PETRONAS Carigali to develop this deepwater field. We are committed to PETRONAS Carigali and to the Malaysian oil and gas industry. This iEPCI™ contract combines our integrated subsea solution with our Subsea 2.0™ products, demonstrating the added value of our unique and complete integrated offering.”

⁽¹⁾ For TechnipFMC, a “substantial” contract ranges between $250 million and $500 million.

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Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

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About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energies industries; delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

Category: UK regulatory

Investor relations

Matt Seinsheimer
Vice President Investor Relations
Tel: +1 281 260 3665
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James Davis
Senior Manager Investor Relations
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Media relations

Nicola Cameron
Vice President Corporate Communications
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Brooke Robertson
Public Relations Director
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CLEVELAND--(BUSINESS WIRE)--Power management company Eaton has been recognized as one of the 2021 World’s Most Ethical Companies by Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.

“It’s a privilege to have once again been named one of the world’s most ethical companies,” said Craig Arnold, chairman and CEO, Eaton. “This recognition reflects the commitment of our 92,000 employees who serve all our stakeholders with uncompromising integrity and dedication to our mission to improve the quality of life and the environment.”

Eaton has been named to the list 10 times since the Ethisphere Institute created the World’s Most Ethical Companies designation in 2007. The company is one of only eight honorees in the Industrial Manufacturing category. In 2021, 135 honorees were recognized spanning 22 countries and 47 industries.

"Having a strong values-based ethical culture is a responsibility shared by every Eaton employee and paramount to earning and maintaining the trust of shareholders, customers, employees and the communities in which we operate,” said Joe Rodgers, senior vice president, Ethics and Compliance, Eaton. “We are guided by our core values every day and this recognition demonstrates Eaton's commitment to acting with integrity and doing business right.”

Ethisphere evaluates each year’s honorees by assessing their culture, environmental and social practices, ethics and compliance activities, governance, and diversity. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.

“While addressing the tough challenges of 2020, we saw companies lead – above all other institutions – on earning the trust of stakeholders through resilience and a commitment to ethics and integrity,” said Timothy Erblich, chief executive officer, Ethisphere Institute. “The World’s Most Ethical Companies honorees continue to demonstrate an unwavering commitment to the highest values and positively impacting the communities they serve. Congratulations to everyone at Eaton for earning the World’s Most Ethical Companies designation.”

For more information about our company, our ethics or career opportunities, visit Eaton.com.

The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.

Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 92,000 employees.

Kurt Eyman, +1 440.523.5332
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TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) today announced its unaudited financial results for the three and 12 months ended December 31, 2020.

Full-year 2020 results validate strength of natural gas strategy in the face of significant headwinds; results exceed pre-COVID-19 guidance midpoints in key metrics

• Net income of $208 million, or $0.17 per diluted share (EPS), which includes net non-cash impairment impact of ($1.107 billion), or ($0.91) per diluted share
• Adjusted EPS of $1.10 per diluted share - up 11% from 2019
• Cash flow from operations (CFFO) of $3.496 billion – down approximately $200 million from 2019 primarily due to the Transco rate case refund impact
• Available funds from operations (AFFO) of $3.638 billion increased by 1% over 2019
• Adjusted EBITDA of $5.105 billion - up $90 million or 2%
• DCF of $3.356 billion - up $59 million or 2% over 2019
• Record gathering volumes of 13.2 Bcf/d; record contracted transmission capacity of 22.2 Bcf/d
• Debt-to-Adjusted EBITDA at quarter end: 4.35x, favorable to guidance
• Expect strong natural gas market fundamentals to drive continued growth in 2021

4Q 2020 results demonstrate stability despite ongoing external volatility

• Net income of $115 million, or $0.09 per diluted share, which includes net non-cash impairment impact of ($245 million), or ($0.20) per diluted share
• Adjusted EPS of $0.31 per diluted share - up 29% vs. 4Q '19
• CFFO of $1.114 billion - up $123 million or 12% over 4Q '19
• AFFO of $983 million - up 2% over 4Q '19
• Adjusted EBITDA of $1.336 billion - up $52 million or 4% over 4Q '19
• DCF of $926 million - up $98 million or 12% over 4Q '19
• Dividend coverage ratio is 1.91x

CEO Perspective

Alan Armstrong, president and chief executive officer, made the following comments:

“Williams established all-time record results in 2020, demonstrating how durable our business can be against multiple headwinds faced by our industry including the COVID-19 pandemic, major customer bankruptcies and a highly active hurricane season, among other factors. We surpassed guidance midpoints in our key financial metrics and generated free cash flow, driven by strong operations with records for both gathered volumes and contracted transmission capacity. Looking ahead to 2021, we believe our continued operating efficiencies combined with a focus on safety performance and environmental stewardship positions Williams to generate long-term sustainable value. Our business strategy is centered on the economic and environmental benefits of natural gas and its ability to accelerate emissions reductions in a pragmatic and cost-effective way. In addition to implementing aggressive and actionable plans to reduce our own emissions by 2030, we are pursuing a broader clean energy strategy that leverages our best-in-class pipeline transportation and storage systems to integrate solar, renewable natural gas, hydrogen and other emerging opportunities.

“Over the past year, our employees have truly demonstrated our safety-driven culture by taking care to protect themselves and others during the pandemic while at the same time efficiently completing projects that deliver clean, affordable energy to key markets ahead of schedule. I am incredibly proud of the around-the-clock work of our employees and their unwavering focus on running one of the nation’s largest energy infrastructure networks with the high level of dependability that consumers have come to expect – reliability that was particularly evident on our gas transmission systems during the severe cold weather event that gripped much of the country last week. Our production supplies in the Northeast and along the Gulf Coast as well as our network of interconnections with other pipelines and strategic storage reserves ensured we were able to meet our commitments and deliver scheduled supplies with no issue. The resiliency of our natural gas network allows us to meet energy demand in the most cost-effective, reliable way possible and demonstrates the importance of natural gas in our country’s energy mix.”

GAAP Measures

• Fourth-quarter 2020 net income from continuing operations attributable to Williams declined slightly compared to the prior year as the benefits of significantly lower operating and administrative costs from cost-savings initiatives and a change in an employee benefit policy, and higher service revenues were more than offset by higher net impairment charges.
• Improved service revenues reflect growth from Transco and Northwest Pipeline expansion projects and the benefit of certain minimum volume commitment (MVC) revenue in the West, partially offset by lower non-cash deferred revenue recognition at Gulfstar One and the impact of 2020 hurricane-related shut-ins in the Gulf of Mexico. The higher net impairment charges include the 2020 impairments of the Northeast Supply Enhancement project and our investment in Rocky Mountain Midstream, partially offset by the 2019 impairment of the Constitution Pipeline project, net of amounts attributable to noncontrolling interests in that project.
• Full-year 2020 net income similarly benefited from significantly lower operating and administrative costs, including the absence of prior year severance charges and the benefit of a change in an employee benefit policy, while service revenues declined slightly as growth from our Northeast JV and pipeline expansion projects and the benefit of certain MVCs was more than offset by decreases in non-cash deferred revenue recognition at Gulfstar One and in the Barnett Shale, as well as the expiration of a Barnett Shale MVC in 2019.
• The year-over-year change was also significantly impacted by net impairment charges, reflecting 2020 impairments related to equity-method investments, goodwill, and certain assets which resulted in a total $1.54 billion pre-tax charge, of which $65 million was attributable to noncontrolling interests. The 2019 period included similar impairment charges totaling $650 million, of which $209 million was attributable to noncontrolling interests, along with a $122 million gain on the sale of our Jackalope investment. The provision for income taxes changed favorably by $256 million primarily due to the change in pre-tax earnings.
• Cash flow from operations for the fourth quarter of 2020 increased as compared to the same period of 2019 primarily due to net favorable changes in net working capital. The decrease for the full-year period was primarily due to working capital changes involving $284 million of rate refunds related to the settlement of Transco’s general rate case paid in July, net of approximately $95 million of that amount collected from January through June 2020.

Non-GAAP Measures

• Adjusted EBITDA for the quarter improved over the prior year as increased service revenues from pipeline expansion projects, higher Northeast G&P JV EBITDA, and lower operating and administrative costs were partially offset by lower non-cash deferred revenue recognition at Gulfstar One and the impact of 2020 hurricane-related shut-ins in the Gulf of Mexico.
• Full-year Adjusted EBITDA improved driven by lower operating and administrative costs and higher contributions from our Northeast G&P investments, partially offset by the previously described slight decline in service revenues and lower commodity margins.
• Changes in Adjusted Income for the quarter and full-year periods were similarly driven by the changes in Adjusted EBITDA.
• The increase in fourth quarter 2020 DCF compared to the prior year is driven by the increase in adjusted EBITDA and an income tax refund received. The increase in full-year DCF is also driven by higher adjusted EBITDA, as well as lower maintenance capital, partially offset by increased distributions to noncontrolling interests driven by our Northeast JV.

Business Segment Results & Form 10-K

Williams' operations are comprised of the following reportable segments: Transmission & Gulf of Mexico, Northeast G&P, West and Other. For more information, see the company's 2020 Form 10-K.

Transmission & Gulf of Mexico

• Fourth-quarter 2020 Modified and Adjusted EBITDA benefited from lower operating and administrative costs, partially offset by decreased service revenues from lower non-cash deferred revenue amortization at Gulfstar One and the impact of 2020 hurricane-related shut-ins, partially offset by Transco expansion projects placed in service.
• Full-year Modified and Adjusted EBITDA also benefited from lower operating and administrative costs, partially offset by similar decreases in service revenues.
• Modified EBITDA for the comparative periods benefited from the absence of both 2019 severance charges and the 2019 impairment of the Constitution Pipeline project, partially offset by the 2020 impairment of the Northeast Supply Enhancement project. Both comparative periods reflect the reversal of previously capitalized costs, while 2020 also benefited from a change in employee benefit policy. These items have been excluded from Adjusted EBITDA.

Northeast G&P

• Fourth-quarter 2020 Modified and Adjusted EBITDA reflect lower operating and administrative costs and higher contributions from equity-method investments. Full-year 2020 Modified and Adjusted EBITDA also reflect lower operating and administrative costs and higher contributions from equity-method investments, as well as increased service revenues associated with higher volumes. The full-year revenue comparison also benefited from the additional ownership in Utica East Ohio Midstream following the March 2019 acquisition and contribution to our Northeast JV.
• Modified EBITDA for both periods includes our share of impairments at equity-method investees and the benefit of a 2020 change in employee benefit policy, while the full-year comparison reflects the absence of 2019 severance charges. These items are all excluded from Adjusted EBITDA.
• Excluding Blue Racer volumes for fourth-quarter 2020 operating stats, Northeast G&P gross gathering volumes for fourth-quarter 2020, including 100% of operated equity-method investments, increased by 7% over the same period in 2019 and gross processing plant inlet volumes for fourth-quarter 2020 increased by 9% over the same period in 2019.

West

• The changes in fourth-quarter 2020 Modified and Adjusted EBITDA reflect higher service revenues associated with certain MVCs and higher rates partially offset by lower volumes, as well as reduced operating and administrative costs. The changes in full-year 2020 Modified and Adjusted EBITDA reflect decreases in non-cash deferred revenue recognition in the Barnett Shale, as well as the expiration of the Barnett Shale MVC in 2019, partially offset by lower operating and administrative costs. The benefit of higher MVCs was more than offset by the impact of lower volumes.
• Modified EBITDA for the quarter and full-year period also benefited from the absence of prior year impairment charges, as well as the benefit of a change in employee benefit policy. The full-year comparison also reflects the absence of prior-year severance charges. All of these items are excluded from Adjusted EBITDA.

2021 Financial Guidance

The company expects 2021 Adjusted EBITDA between $5.05 billion and $5.35 billion. The company also expects 2021 growth capex between $1 billion to $1.2 billion and leverage ratio of 4.25x, providing visibility to the company’s 4.20x leverage metric objective. Importantly, Williams also anticipates it will generate positive free cash flow (after capex and dividends), allowing it to retain financial flexibility.

Williams' Fourth-Quarter 2020 Materials to be Posted Shortly; Q&A Webcast Scheduled for Tomorrow

Williams' fourth-quarter 2020 earnings presentation will be posted at www.williams.com. The company’s fourth-quarter 2020 earnings conference call and webcast with analysts and investors is scheduled for Tuesday, Feb. 23, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). Participants who wish to join the call by phone must register using the following link: http://www.directeventreg.com/registration/event/5346299

A webcast link to the conference call is available at www.williams.com. A replay of the webcast will be available on the website for at least 90 days following the event.

About Williams

Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use. www.williams.com

MEDIA CONTACT:
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INVESTOR CONTACTS:
Danilo Juvane
(918) 573-5075