• Revenue increased 59% year over year to $565 million in the fourth quarter.

• Diluted EPS (GAAP) was $0.04 and Adjusted Diluted EPS (Non-GAAP) was $0.27 in the fourth quarter.

• Future business backlog continues to grow, with 2022 ADAS (including SuperVision^TM) design wins projected to generate future revenue of $6.7 billion across 64 million units by 2030.¹

• Advanced ADAS products, such as SuperVision^TM contributed meaningfully to our revenue growth and resulted in Average System Price² increasing to $56.2 in fourth quarter 2022 from $48.3 in the prior year period.

• Generated net cash from operating activities of $546 million in the year ended December 31, 2022. Our balance sheet is strong with $1.0 billion of cash and cash equivalents and zero debt as of December 31, 2022.

JERUSALEM--(BUSINESS WIRE)--Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today released its financial results for the three months and for the year ended December 31, 2022.

“Our fourth quarter performance is an excellent example of how ramping volumes of our advanced solutions can impact financial performance, as higher average system price amplified strong volume growth, leading to 59% overall revenue growth,” said Mobileye President and CEO Prof. Amnon Shashua. “I’m also very pleased with our business development traction as our OEM customers are increasingly recognizing the scalability of our product portfolio for the following reasons: 1) Adopting SuperVision^TM, an eyes-on, hands-off ADAS system operating across a broad operational design domain (ODD) makes scaling to eyes-off autonomous systems an incremental step rather than a series of moonshots; 2) Mobileye’s EyeQ Kit^TM software development kit, developed over the last five years, enables OEMs to differentiate their systems on top of our core technology assets; and, 3) Regulatory and consumer proof-points will be increasingly important and Mobileye has a clear, multi-pronged approach for data-driven validation. As planned, we will continue to invest heavily (while maintaining strong profitability) during 2023 to productize and launch our advanced solutions as my confidence level on delivering high returns to all stakeholders has never been higher.”

Fourth Quarter and Full-Year 2022 Business Highlights

• Business development activity was very robust in 2022. As disclosed in our CES presentation, projected future revenue (through 2030) from design wins achieved in just 2022 alone totaled $6.7 billion across 63.6 million incremental units. This is more than 3.5x the revenue we generated in 2022 and the projected average system price indicates strong traction for our advanced solutions.¹

• We continue to execute very well in our core ADAS business, as we launched systems into 233 distinct vehicle models in 2022 and pricing and gross profit per unit remained consistent with historical levels.

• SuperVision^TM ECU shipments to ZEEKR were over 90,000 units in 2022 and we are prepared for a series of launches on additional ZEEKR models as well as for multiple other brands under the Geely Holding Group umbrella during 2023. Demand for SuperVision^TM continues to run above our ability to supply (certain ECU components are still somewhat constrained, particularly in 1st half 2023). We expect volumes to more than double year over year in 2023 but we expect shipments to be significantly higher in the 2nd half of 2023 as compared to the first half.

• We recently kicked off development with a premium European automaker for a SuperVision^TM program targeting delivery in 2025. Importantly, the scope of this strategic relationship expanded to include an eyes-off / hands-off Chauffeur^TM program. This trend is consistent with other OEMs where we are in advanced discussions and is a proof-point on our belief that SuperVision^TM, in addition to a near-term profit opportunity for our customers, also naturally serves as a scalable foundation for Consumer AV.
  
  
• We continue to build strong relationships with Mobility-as-a-Service customers, both on the demand and supply side, with our Mobileye Drive^TM self-driving system serving as the enabler. In a recent development, we secured one such program with a leading EU light commercial vehicle OEM.

Fourth Quarter 2022 Financial Summary and Key Explanations (Unaudited)

*Not Meaningful

• Revenue of $565 million increased 59% as compared to fourth quarter of 2021. EyeQ® SoC-related revenue grew 48% in the quarter due to a combination of volume and ASP growth. The remaining growth was primarily generated by SuperVision^TM related revenue, despite this product being less than 1% of our overall unit volume.

• Average System Price was $56.2 in fourth quarter 2022 as compared to $48.3 in the prior year period, driven primarily by increased mix of advanced products. Price increases to offset the increased cost of our EyeQ chip due to global inflationary pressures also contributed to the Average System Price increase but to a lesser extent.

• Gross Margin increased by nearly 10 percentage points in the fourth quarter 2022 as compared to the prior year period. This increase was primarily due to the lower impact of the cost attributable to amortization of intangible assets as a percentage of revenue, partially offset by increased sales of SuperVision^TM which contributes lower percentage gross margin given the greater hardware content in this product.

• Adjusted Gross Margin (a non-GAAP measure) declined by 3 percentage points in the fourth quarter 2022 as compared to the prior year period. The year over year decrease was primarily due to increased sales of SuperVision^TM which contributes higher gross profit dollars per unit but lower percentage gross margin given the greater hardware content. Adjusted Gross Margin on our core EyeQ® SoC line of products remained stable in the high 70% range.
  
  
• Operating Margin increased by over 16 percentage points on a year over year basis. The increase was primarily driven by conversion of revenue growth into gross profit that significantly outpaced year-over-year growth in operating expenses, as well as the lower impact of the cost attributable to amortization of intangible assets as a percentage of revenue.

• Adjusted Operating Margin (a non-GAAP measure) increased by approximately 4 percentage points in the fourth quarter 2022 as compared to the prior year period. The increase was driven by conversion of revenue growth into gross profit that significantly outpaced year-over-year growth in operating expenses. Adjusted Operating Margin in fourth quarter 2022 was higher than our expectations due to a number of expense items that were projected for 2022 but shifted to 2023, primarily in the area of non-recurring engineering (NRE) development projects.

• Operating cash flow for the year ended December 31, 2022 was $546 million. Purchases of property and equipment was $111 million for that same period.

¹ Mobileye’s revenue for the periods presented represent estimated volumes based on projections of future production volumes that were provided by our current and prospective OEMs at the time of sourcing the design wins for the models related to those design wins. See the disclaimer under the heading “Forward-Looking Statements” below for important limitations applicable to these estimates.

² Average System Price is calculated as the sum of revenue related to EyeQ and SuperVision systems, divided by the number of systems shipped.

Financial Guidance for the 2023 Fiscal Year

The following information reflects Mobileye’s expectations for Revenue, Operating Loss and Adjusted Operating Income results for the year ending December 30, 2023. We believe Adjusted Operating Income (a non-GAAP metric) is an appropriate metric as it excludes significant non-cash expenses including: 1) Amortization charges related to intangible assets consisting of developed technology, customer relationships, and brands as a result of Intel’s acquisition of Mobileye in 2017 and the acquisition of Moovit in 2020; and, 2) Stock-based compensation expense. These statements represent forward-looking information and may not represent a financial outlook, and actual results may vary. Please see the risks and assumptions referred to in the Forward-Looking Statements section of this release.

Earnings Conference Call Webcast Information

Mobileye will host a conference call today, January 26, 2023, at 8:00am ET (3:00pm IT) to review its results and provide a general business update. The conference call will be accessible live via a webcast on Mobileye’s investor relations site, which can be found at ir.mobileye.com, and a replay of the webcast will be made available shortly after the event’s conclusion.

Non-GAAP Financial Measures

This press release contains Adjusted Gross Profit and Margin, Adjusted Operating Income and Margin, Adjusted Net Income and Adjusted EPS, which are financial measures not presented in accordance with GAAP. We define Adjusted Gross Profit as gross profit presented in accordance with GAAP, excluding amortization of acquisition related intangibles and share-based compensation expense. Adjusted Gross Margin is calculated as Adjusted Gross Profit divided by total revenue. We define Adjusted Operating Income as operating loss presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation expenses and expenses related to our initial public offering that was completed on October 28, 2022, during the year ended December 31, 2022. Operating margin is calculated as operating income (loss) divided by total revenue, and Adjusted Operating Margin is calculated as Adjusted Operating Income divided by total revenue. We define Adjusted Net Income as net loss presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation expense, and expenses related to our initial public offering that was completed on October 28, 2022, during the year ended December 31, 2022, as well as the related income tax effects. Income tax effects have been calculated using the applicable statutory tax rate for each adjustment taking into consideration the associated valuation allowance impacts. The adjustment for income tax effects consists primarily of the deferred tax impact of the amortization of acquired intangible assets. Adjusted Basic EPS (Earnings Per Share) is calculated by dividing Adjusted Net Income for the period by the weighted-average number of common shares outstanding during the period. Adjusted Diluted EPS is calculated by dividing Adjusted Net Income by the weighted-average number of common shares outstanding during the period, while giving effect to all potentially dilutive common shares to the extent they are dilutive.

We use such non-GAAP financial measures to make strategic decisions, establish business plans and forecasts, identify trends affecting our business, and evaluate performance. For example, we use these non-GAAP financial measures to assess our pricing and sourcing strategy, in the preparation of our annual operating budget, and as a measure of our operating performance. We believe that these non-GAAP financial measures, when taken collectively, may be helpful to investors because they allow for greater transparency into what measures our management uses in operating our business and measuring our performance, and enable comparison of financial trends and results between periods where items may vary independent of business performance. The non-GAAP financial measures are presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure presented in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.

About Mobileye Global Inc.

Mobileye (Nasdaq: MBLY) leads the mobility revolution with its autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in computer vision, artificial intelligence, mapping, and data analysis. Since its founding in 1999, Mobileye has pioneered such groundbreaking technologies as REM™ crowdsourced mapping, True Redundancy™ sensing, and Responsibility Sensitive Safety (RSS). These technologies are driving the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions, powering industry-leading advanced driver-assistance systems and delivering valuable intelligence to optimize mobility infrastructure. To date, more than 125 million vehicles worldwide have been built with Mobileye technology inside. In 2022 Mobileye listed as an independent company separate from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.

“Mobileye,” the Mobileye logo and Mobileye product names are registered trademarks of Mobileye Global. All other marks are the property of their respective owners.

Forward-Looking Statements

Mobileye’s Business Outlook and other statements in this release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including Mobileye’s 2023 full-year guidance, projected future revenue and descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast,” or the negative of these terms, and other similar expressions, although not all forward-looking statements contain these words. We base these forward-looking statements or projections, including Mobileye’s full-year guidance, on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances and at such time. You should understand that these statements are not guarantees of performance or results. The forward-looking statements and projections are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections. Although we believe that these forward-looking statements and projections are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those expressed in the forward-looking statements and projections.

Important factors that may materially affect such forward-looking statements and projections include the following: future business, social and environmental performance, goals and measures; our anticipated growth prospects and trends in markets and industries relevant to our business; business and investment plans; expectations about our ability to maintain or enhance our leadership position in the markets in which we participate; future consumer demand and behavior; future products and technology, and the expected availability and benefits of such products and technology; development of regulatory frameworks for current and future technology; ​projected cost and pricing trends; ​future production capacity and product supply, including our expectation that supply chain issues will ease in the second half of 2023; potential future benefits and competitive advantages associated with our technologies and architecture and the data we have accumulated; the future purchase, use and availability of products, components and services supplied by third parties, including third-party IP and manufacturing services; uncertain events or assumptions, including statements relating to our addressable markets, estimated vehicle production and market opportunity, potential production volumes associated with design wins and other characterizations of future events or circumstances; future responses to and effects of the COVID-19 pandemic; availability, uses, sufficiency and cost of capital and capital resources, including expected returns to stockholders such as dividends, and the expected timing of future dividends; tax- and accounting-related expectation

The estimates included herein are based on projections of future production volumes that were provided by our current and prospective OEMs at the time of sourcing the design wins for the models related to those design wins. For the purpose of these estimates, we estimated sales prices based on our management’s estimates for the applicable product bundles and periods. Achieving design wins is not a guarantee of revenue, and our sales may not correlate with the achievement of additional design wins. Moreover, our pricing estimates are made at the time of a request for quotation by an OEM (in the case of estimates related to contracted customers), so that worsening market or other conditions between the time of a request for quotation and an order for our solutions may require us to sell our solutions for a lower price than we initial expected. These estimates may deviate from actual production volumes and sale prices (which may be higher or lower than the estimates) and the amounts included for prospective but uncontracted production volumes may never be achieved. Accordingly, these estimations are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections.

Detailed information regarding these and other factors that could affect Mobileye’s business and results is included in Mobileye’s SEC filings, including the company’s Registration Statement (No. 333-267685) on Form S-1, particularly in the section entitled the “Risk Factors”. Copies of these filings may be obtained by visiting our Investor Relations website at ir.mobileye.com or the SEC’s website at www.sec.gov.

Full Year 2022 Financial Results

Mobileye Global Inc.
Consolidated Statements of Operations (unaudited)

Mobileye Global Inc.
Consolidated Balance sheets (unaudited)

Mobileye Global Inc.
Consolidated Cash Flows (unaudited)

Dan Galves
Investor Relations
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Justin Hyde
Media Relations
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The Linz-based software company commits to the Paris climate agreement by reducing CO2 emissions by at least 42% by 2030 as part of the Science Based Targets initiative (SBTi).

LINZ, Austria--(BUSINESS WIRE)--Fabasoft sets a bold near-term target, pledging to decrease its direct (Scope 1) and indirect CO2 emissions from purchased energy (Scope 2) by at least 42% by 2030, as compared to the base year 2021. In addition, the company aims to reduce its indirect Scope 3 emissions through the sustainable design of supply chains and employee commutes. To reach this goal, Fabasoft undertakes a number of actions, including increasing the use of renewable energies, fostering e-mobility, designing energy-efficient office spaces, and focusing on organic, regional and short distance transport routes. Subsidies for the climate ticket or the Linz city cycling initiative as well as the expansion of e-charging stations encourage employees to switch to sustainable means of transport. To complement the climate ticket, Fabasoft provides a free e-shuttle service from the train station to the headquarters in Linz and back since 2022.

"We are convinced that it is our responsibility to actively address global warming and contribute to achieving the Paris climate targets. The review by the Science Based Targets initiative also ensures that the measures we set correspond to scientific findings," emphasizes Dipl.-Ing. Helmut Fallmann, founder and CEO of Fabasoft AG.

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.

About Fabasoft

Fabasoft is one of the leading software product companies and cloud service providers in Europe for digital document and process management. With its PROCECO ecosystem, Fabasoft unites unique, powerful as well as seamlessly integrable solutions for document-intensive business processes. Numerous well-known private companies and public sector organizations rely on Fabasoft's quality and experience for more than three decades.

+43732606162-152
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~ Record December Quarter Revenue of $508 Million, Up 7% ~

~ Record December Quarter Gross Margin of 36.8% ~

~ Net Income of $19.7 Million, or $0.89 per Share; Adjusted Net Income of $27.3 Million, or $1.24 per Share ~

~ Adjusted EBITDA of $53.2 Million ~

~ Updates Fiscal Year 2023 Guidance ~

~ Company to Host Q1 2023 Earnings Call at 10:00 a.m. ET Today ~

CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat, yacht and superyacht company, today announced results for its first quarter ended December 31, 2022.

Revenue increased 7% to a record $507.9 million for the quarter ended December 31, 2022, from $472.7 million in the comparable period last year. The growth was primarily driven by contributions from strategic acquisitions, including IGY Marinas which closed in October 2022. As a result of the current macroeconomic environment and ongoing supply chain challenges, same-store sales declined a modest 1% for the quarter, compared with an increase of 9% in the first quarter of 2022.

Net income for the quarter ended December 31, 2022 was $19.7 million, or $0.89 per diluted share, compared with net income of $35.9 million, or $1.59 per diluted share, for the same period last year. Adjusted net income¹ was $27.3 million, or $1.24 per diluted share for the quarter ended December 31, 2022. Adjusted EBITDA¹ for the quarter ended December 31, 2022 was $53.2 million, compared with $55.3 million for the same period last year. Adjusted EBITDA¹, excluding the adjustment for currency changes, was $55.6 million for the quarter ended December 31, 2022.

Brett McGill, Chief Executive Officer and President, stated, “Our team executed exceptionally well in the first quarter, despite the sustained supply chain constraints and economic uncertainty. We delivered strong top-line growth, record December quarter gross margin, strong positive cash flows and Adjusted EBITDA, reflecting the strength of our premium brands and the addition of IGY Marinas to our portfolio. In addition to the IGY acquisition, we also expanded with Midcoast Marine Enterprises, while also growing on the technology front, through the formation of a new business, New Wave Innovations. New Wave recently completed the acquisition of Boatzon, the industry’s only 100% online boat and marine digital retail platform.”

Mr. McGill concluded, “Although we are updating our 2023 guidance as a result of current economic uncertainty, we have strong momentum as we move into the remainder of the year. We are backed by one of the strongest balance sheets in the industry, which provides us increased flexibility to remain agile and take advantage of opportunities as they arise. We remain confident that our organic growth opportunities, coupled with attractive strategic acquisitions, position us well for 2023 and beyond. We continue to execute on our strategic growth plan to drive sustainable value for MarineMax stakeholders through a diversified business model built on premium brands, global marinas, world-class services, and innovative technology.”

2023 Guidance

Based on current business conditions, retail trends and other factors, the Company is updating its fiscal year 2023 guidance for Adjusted earnings² per diluted share to a range of $6.90 to $7.40. In addition, the Company's fiscal year 2023 guidance for Adjusted EBITDA² is a range of $275 million to $300 million. These expectations do not consider, or give effect for, among other things, material acquisitions that may be completed by the Company during fiscal 2023 or other unforeseen events, including changes in global economic conditions.

Conference Call Information

MarineMax will discuss the fiscal 2023 first quarter results and outlook in a conference call starting at 10:00 a.m. ET today. The conference call can be accessed via the “Investors” section of the Company's website: http://www.marinemax.com, or by dialing 877-407-0789 (U.S. and Canada) or 201-689-8562 (International) and entering Conference ID 13734894. An archived replay will be available within one hour of the conclusion of the call and will be archived on the website for one year.

About MarineMax

As the world’s largest lifestyle retailer of recreational boats and yachts, as well as yacht concierge and superyacht services, MarineMax (NYSE: HZO) is United by Water. We have more than 125 locations worldwide, including 78 dealerships and 57 marinas. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruiser Yachts, one of the world’s premier manufacturers of premium sport yacht and yachts; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth’s surface. We’re focused on the other 71%. Learn more at www.marinemax.com.

Forward-Looking Statements

Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the Company's momentum as it moves into the remainder of fiscal 2023, the Company's positioning for fiscal 2023 and beyond, the Company's execution of its strategic plan, and the Company’s fiscal year 2023 guidance. These statements are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions, and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the performance and integration of the recently-acquired businesses, the impacts (direct and indirect) of COVID-19 on the Company’s business, the Company’s employees, the Company’s manufacturing partners, and the overall economy, general economic conditions, as well as those within the Company's industry, the level of consumer spending, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2022 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

¹ This is a non-GAAP measure. See below for an explanation and quantitative reconciliation of each non-GAAP financial measure.

² See “Non-GAAP Financial Measures” below for a discussion of why reconciliations of forward-looking Adjusted earnings and Adjusted EBITDA are not available without unreasonable effort.

Non-GAAP Financial Measures

This press release, along with the above Supplemental Financial Information table, contains “Adjusted net income” and “Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization” (“Adjusted EBITDA”), which are non-GAAP financial measures as defined under applicable securities legislation. In determining these measures, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures. The Company believes these non-GAAP financial measures are key performance indicators that improve the period-to-period comparability of the Company’s results and provide investors with more insight into, and an additional tool to understand and assess, the performance of the Company's ongoing core business operations. Investors and other readers are encouraged to review the related GAAP financial measures and the above reconciliation and should consider these non-GAAP financial measures as a supplement to, and not as a substitute for or as a superior measure to, measures of financial performance prepared in accordance with GAAP.

In addition, we have not reconciled our fiscal year 2023 Adjusted earnings and Adjusted EBITDA guidance to net income (the corresponding GAAP measure for each), which is not accessible on a forward-looking basis due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to acquisition contingent consideration and acquisition costs. Acquisition contingent consideration and acquisition costs, which are likely to be significant to the calculation of net income, are affected by the integration and post-acquisition performance of our acquirees, which is difficult to predict and subject to change. Accordingly, reconciliations of forward-looking Adjusted earnings and Adjusted EBITDA are not available without unreasonable effort.

Investors:
Mike McLamb
Chief Financial Officer
MarineMax, Inc.
727-531-1700

Scott Solomon or Laura Resag
Sharon Merrill Associates, Inc.
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Katherine Cooper
Director of Communications
MarineMax, Inc.
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The partnership supports Avis Budget Group’s strategy of establishing the infrastructure needed to meet growing rental demand for EVs

PARSIPPANY, N.J. & PALO ALTO, Calif.--(BUSINESS WIRE)--Avis Budget Group (Nasdaq: CAR) and EverCharge, an SK Group company and a leading provider of large-scale electric vehicle (EV) charging devices and management systems, has launched a significant number of EV charging stations at the George Bush International Airport (IAH) in Houston, Texas. The stations will power Avis and Budget’s fleet of EVs and plug-in hybrid electric vehicles (PHEVs) available for rent at the airport. The EverCharge stations will be unveiled by executives from Avis Budget Group, EverCharge, and SK Group today.

EverCharge’s patented load balancing software, SmartPower, enables large-scale, networked EV charging by managing and controlling electric loads, analyzing the charging patterns of EVs, and intelligently allocating available power based on the individual vehicle’s need. SmartPower empowers EverCharge partners, such as Avis, to install more stations than would be available with traditional charging systems, without a strain to the existing energy grid or the need for costly utility upgrades. Although EverCharge has stations at multiple locations, this is the first large-scale charging solution at an airport.

Joe Ferraro, President and Chief Executive Officer at Avis Budget Group said: “An optimal charging infrastructure is a necessary condition to support a seamless transition to an electrified fleet. We are committed to offering the best possible experience for our customers and this requires investing in leading technology that integrates with the diverse EV fleet that our OEM partners will deliver. At Avis Budget Group, we believe the road to electrification rests on a foundation of charging infrastructure. We’re excited to be partnering with the SK Group to advance our strategy and we’re proud to showcase this large-scale operation at the George Bush International Airport in Houston as a proof point of the developments to come.”

The partnership between Avis Budget Group and EverCharge at the Houston airport is designed to serve as a model for scalable fleet electrification planning at airports across the U.S. It is also the latest example of Avis Budget Group’s belief that electrification is the future of mobility, and having sustainable options in its fleet, including electric and fuel-efficient vehicles, is a core part of the company’s business strategy.

Avis Budget Group believes that partnerships like this, which tackle some of the infrastructure challenges associated with electrification, will help the company reach its 2030 ESG (Environmental, Social & Governance) target to reduce absolute greenhouse gas emissions from its operations by 30%. The EverCharge stations will serve as a visible reminder of Avis Budget Group’s commitment to investing in infrastructure and advanced technology that support the nation’s transition to electric mobility.

“EverCharge is on a mission to enable the widespread adoption of EVs by providing intelligent software and hardware charging solutions that leverage the capabilities of existing electrical infrastructure. Our partnership with Avis Budget Group is an important step to realizing that mission, and a prime example of EverCharge’s ability to advance our partners’ sustainability strategies,” said Jason Appelbaum, CEO of EverCharge. “We are proud to be leading the charge with Avis Budget Group to accelerate the decarbonization of the transportation sector and bring us another step closer to a clean, all-electric future.”

This partnership comes on the heels of EverCharge’s acquisition last year by SK Group, South Korea’s second-largest conglomerate. SK Group is investing billions of dollars in U.S. energy solutions and sustainable technologies, such as those by EverCharge, to fulfill its commitment to reduce carbon emissions by 200 million tons in 2030, or 1% of the global carbon reduction targets needed to address climate change.

“The adoption of EVs across the U.S. auto market is encouraging, but this growth requires a transformation of our energy systems,” said Jeong Joon Yu, SK Group Vice Chairman and Head of U.S. Corporate and Government Affairs. “The collaboration between Avis Budget Group and EverCharge is intended to provide the infrastructure needed for a clear pathway to cleaner forms of transportation for rental customers.”

Following the launch at the Houston airport, Avis Budget Group and EverCharge plan to extend this partnership to additional airport locations this year.

About Avis Budget Group

Avis Budget Group, Inc. is a leading global provider of transportation solutions, both through our Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through our Zipcar brand, which is the world’s leading car sharing network. Avis Budget Group operates most of our car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group is headquartered in Parsippany, N.J. More information is available at avisbudgetgroup.com.

About EverCharge

EverCharge provides hardware and software EV charging solutions for fleets, multi-unit, and single-family homes. The company’s turnkey offerings are designed to utilize existing infrastructure to scale EV charging at the lowest cost. EverCharge’s load balancing SmartPower technology maximizes the number of electric vehicles that can charge at once and eliminates barriers, such as data connectivity. Founded in 2013 and headquartered in Palo Alto, today EverCharge supports hundreds-of-thousands of users with electric vehicle supply equipment (EVSE) across the United States and Canada. For more information, please visit evercharge.com.

About SK Group

SK Group, South Korea’s second-largest conglomerate, is a collection of global industry-leading companies driving innovations in energy, advanced materials, biopharmaceuticals and digital business. SK companies combined have $139 billion in global annual revenue and employ more than 100,000 people worldwide. SK companies are investing billions of dollars in expanding their U.S. presence with business operations or partnerships in electric vehicle (EV) batteries and charging technology, hydrogen energy and fuel cells, pharmaceutical manufacturing and development, and semiconductors. For more information, visit sk.com.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements.” Any statements that refer to outlook, expectations or other characterizations of future events, circumstances or results, including all statements related to our future plans, initiatives or results with respect to ESG, sustainability, electric vehicles or electric charging stations, are forward-looking statements. Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to, climate change, government regulation, consumer adoption of electric vehicles, competition in the mobility industry, supply and availability of clean renewable energy, COVID-19, which has had, and is expected to continue to have a significant impact on our operations, and resulting economic conditions and related restrictions, as well as the other factors described in Avis Budget Group’s Annual Report on Form 10-K for the year ended December 31, 2021, Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2022 and in Avis Budget Group’s other filings with the Securities and Exchange Commission from time to time. We undertake no obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

Jasmine Wallsmith
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Committed to continuous excellence, Renaissance invests to produce premium drinking water made on-site with zero plastic waste

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--As part of its commitment to best-in-class technologies and reducing its environmental impact, Renaissance Services will partner with SOURCE Global, PBC to generate sustainably sourced drinking water for Renaissance Village Duqm (RSVD) in Oman’s Special Economic Zone at Duqm (SEZAD), with plans to expand to additional sites.

Renaissance is Oman's leading accommodation, services solutions, and integrated facility management company, with a growing presence in UAE and Qatar.

Adjacent to RSVD, the company will install SOURCE® Hydropanels, a patented technology that uses only the sun to harvest water from an entirely new and endlessly replenished resource - pure water vapour in the air - creating the first ‘water farm’ in Oman.

The project will create a sustainable source of clean, safe, and high-quality drinking water made locally in Oman and served in reusable glass bottles for the workforce staying in the world-class, 18,800+ bed RSVD, which is Oman’s largest International Labour Organization-compliant accommodation facility.

“Water is life. We are delighted to partner with Source Global to implement this important green initiative here in Oman, and in particular, at Duqm. This is a future-focused, smart, sustainable solution that is aligned with the vision of SEZAD and OPAZ (Public Authority for Special Economic zones and Free zones) as a smart, green city,” said Stephen R Thomas, CEO, Renaissance. “Adopting SOURCE® Hydropanels allows us to further push our sustainability agenda. We are contributing to reducing single-use plastic, preserving groundwater, and reducing CO2 emissions by using a sustainable and renewable approach to drinking water.”

"Our Hydropanel technology is 100% off-grid and offers industry leaders like Renaissance Services the opportunity to hydrate their workforce in a renewable, premium and sustainable way. We can produce high-quality drinking water even in dry and remote places and virtually anywhere on earth," said Robert Bartrop, CRO, SOURCE Global, PBC. "We’re proud to work with Renaissance Services in support of their commitment to a greener future.”

About SOURCE Global, PBC

A Public Benefit Corporation, SOURCE Global, PBC’s mission is to make drinking water an unlimited resource. The company’s SOURCE® Hydropanels create drinking water using sunlight and air as the only inputs, and can put the power of safe, sustainable drinking water in the hands of every person in nearly every climate and corner of the world., SOURCE is on Fast Company’s 2020 list of most innovative social good companies. Headquartered in Scottsdale, Arizona, the company is, and operates in 52 countries and on six continents. SOURCE is a registered trademark of SOURCE Global, PBC. For more information, visit www.source.co and follow us on Facebook, LinkedIn, Twitter and Instagram.

About Renaissance Services SAOG

Renaissance is the leading accommodation, services solutions and IFM company in Oman, listed on Muscat Stock Exchange. The company has invested over US$520 million in Oman employing over 2,600+ Omani nationals contributing to local growth, building potential and creating opportunities. Renaissance is committed to safety, efficiency, green awareness, and sustaining in-country value. The company has built a strong local supply chain with 65 per cent of procurement within Oman and is passionate about building a sustainable future by investing in substantial CSR programmes every year.

Carole Akl
Manager, International Marketing Communications
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Mohana Prabhakar
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Lynne Boschee, SOURCE Global, PBC
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MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, the leader in the digital transformation of energy management and automation, is pleased to announce the appointment of Jim Kalogiros as Vice President, Secure Power in Canada.

Jim has over 18 years of experience at Schneider Electric, primarily in the data centre realm, holding various positions in sales, contractor partnerships and business development. Most recently, Jim served as the Senior Sales Director, Secure Power at Schneider Electric, where he led the sales team for Canada’s Power Systems business. In his new role, Jim is responsible for driving growth in new and evolving markets that rely on secure, highly-available and energy-efficient power to run critical applications in data centres, healthcare facilities and other essential segments.

“I am excited to lead a growth market that is at the intersection of digital transformation and secure, sustainable energy,” said Jim Kalogiros, Vice President, Secure Power. “The rise of IoT connected devices and other digital technology is revolutionizing how hospitals, financial institutions, schools, factories and other segments harness the dual power of digital and energy to manage critical infrastructure. I look forward to working with my team and our ecosystem of partners to help customers balance their business continuity needs and sustainability goals to build a resilient, net-zero tomorrow.”

About Schneider Electric

Schneider Electric is an #ImpactCompany that provides energy and automation digital solutions to drive efficiency and sustainability for all. We combine world-leading energy technologies, real-time automation, software and services into integrated solutions for homes, buildings, data centres, infrastructure and industries. We make process and energy safe and reliable, open and connected, and efficient and sustainable.

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• Facility expected to produce more than 1 billion litres per year, or 20,000 barrels per day, of renewable diesel
• Renewable diesel has potential to reduce annual greenhouse emissions by about 3 million tonnes compared to conventional fuels
• Project to supply British Columbia in support of province’s plan to reduce greenhouse gas emissions

CALGARY, Alberta--(BUSINESS WIRE)--Imperial (TSE: IMO, NYSE American: IMO) said today it will further help Canada achieve its net zero goals by investing about $720 million (USD $560 million) to move forward with construction of the largest renewable diesel facility in the country. The project at Imperial’s Strathcona refinery near Edmonton is expected to produce more than one billion litres of renewable diesel annually primarily from locally sourced feedstocks and could help reduce greenhouse gas emissions in the Canadian transportation sector by about 3 million metric tons per year, as determined in accordance with Canada’s Clean Fuel Regulation. Regulatory approval for the project is expected in the near term.

“Imperial supports Canada’s vision for a lower-emission future, and we are making strategic investments to reduce greenhouse gas emissions from our own operations and to help customers in vital sectors of the economy reduce their emissions,” said Brad Corson, Imperial chairman, president and chief executive officer. “The investment at our Strathcona refinery will deliver immediate benefits to the local economy creating jobs and contributing to a lower-emission energy future for our employees, neighbours and communities.”

The renewable diesel project was first announced in August 2021, with the Province of British Columbia supporting this project through a Part 3 Agreement under the BC low carbon fuel standard. A significant portion of the renewable diesel from Strathcona will be supplied to British Columbia in support of the province’s plan to lower carbon emissions. Imperial also intends to use renewable diesel in operations as part of the company’s emission reduction plans.

Imperial’s renewable diesel facility will use low-carbon hydrogen produced with carbon capture and storage technology to help Canada meet low emission fuel standards. Imperial has entered into an agreement with Air Products for low-carbon hydrogen supply and is developing agreements with other third parties for biofeedstock supply. The low-carbon hydrogen and biofeedstock will be combined with a proprietary catalyst to produce premium lower-emission diesel fuel and will reduce greenhouse gas emissions relative to conventional fuels.

Site preparation and initial construction are underway. Renewable diesel production is expected to start in 2025. The project is expected to create about 600 direct construction jobs, along with hundreds more through investments by business partners.

After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

Source: Imperial

Cautionary statement: Statements of future events or conditions in this release, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Forward-looking statements in this release include, but are not limited to, the company’s plans to construct a renewable diesel facility at Strathcona; references to the production of renewable diesel at Strathcona, including production estimates and projections, and expected sources of feedstock; the expected timing of regulatory approval; the availability of and use by the company of carbon capture and storage technology; the impact of the company’s plans on Federal and Provincial low-carbon fuels standards and emissions targets; the company’s projections regarding expected reductions in CO2 emissions in comparison to conventional fuels the company’s expectations regarding job creation as a result of the project; the anticipated date for commencing renewable diesel production at the facility; the company’s commitment to investing in projects that support sustainability and contribute to reducing emissions; and Strathcona’s position amongst other renewable diesel complexes in North America.

Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning refinery utilization, energy use and greenhouse gas emissions; demand growth and energy source, supply and demand mix; the adoption and impact of new facilities and technologies such as the renewable diesel facility and hydrogen produced with carbon capture and storage, including on reductions to greenhouse gas emissions intensity; the availability and cost of locally-sourced and grown feedstock; the supply of renewable diesel to British Columbia in connection with its low-carbon fuel legislation; applicable laws and government policies and actions, including with respect to climate change and low carbon fuel legislation; that any required support from policymakers and other stakeholders for various new technologies will be provided; performance of third party service providers; the company’s ability to effectively execute on its project plans and operate the refinery and renewable diesel facility; the progression of COVID-19 and its impacts on Imperial’s ability to operate its assets; the company’s ability to effectively execute on its business continuity plans; general market conditions; commodity prices; and capital and environmental expenditures could differ materially depending on a number of factors. These factors include global, regional or local changes in supply and demand for oil, natural gas, and petroleum products and resulting price, differential and margin impacts; environmental regulation, including climate change and greenhouse gas regulation and changes to such regulation; failure or delay of supportive policy and market development for emerging lower emission energy technologies; the competitiveness of alternative energy and other emission reduction technologies; the receipt, in a timely manner, of regulatory and third-party approvals; availability and performance of third-party service providers; political or regulatory events, including changes in law or government policy such as actions in response to COVID-19; unanticipated technical or operational difficulties; management effectiveness and disaster response preparedness, including business continuity plans in response to COVID-19; unexpected technological developments; operational hazards and risks; cybersecurity incidents; general economic conditions; and other factors discussed in Item 1A risk factors and Item 7 management’s discussion and analysis of financial condition and results of operations of Imperial’s most recent annual report on Form 10-K and subsequent interim reports of Form 10-Q.

Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial Oil Limited. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law.

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LYNCHBURG, Va.--(BUSINESS WIRE)--$BWXT #earnings--BWX Technologies, Inc. (BWXT) (NYSE: BWXT) will issue a press release detailing fourth quarter and full-year 2022 results on Thursday, February 23, 2023, after market close and will host a conference call at 5:00 p.m. EST.

Listen-only participants are encouraged to participate and view the supporting presentation via the Internet at www.bwxt.com/investors. The dial-in numbers for participants are (U.S.) 1-844-200-6205, (Canada) 1-833-950-0062 and (International) +1-929-526-1599; access code: 730532. A replay of the call will remain available on the BWXT website for a limited time.

About BWXT

At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 14 major operating sites in the U.S., Canada and the U.K. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXT and learn more at www.bwxt.com.

Media Contact
Jud Simmons
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Industry’s First “Conservation Grant Program” Works to Enhance Ecosystems and Habitats Near Clean Energy Projects

CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--Apex Clean Energy today announced the recipients of its 2022 Conservation Grant Program, totaling $1.2 million in funding for conservation projects near the company’s commercialized renewable energy sites. The program, which represents the first of its kind within the clean energy industry, contributed $1.7 million in its first two years, generating an additional $4.3 million of matching grant funding and resulting in more than 1,500 acres of preserved and restored lands.

“Apex’s Conservation Grant Program advances sustainability beyond our core business, maximizing the positive impact of renewable energy while fostering an ecological balance in and around the communities where our projects operate,” said Mark Goodwin, Apex Clean Energy president and CEO. “Through our partners’ crucial work, the benefits of this program will ripple across the country, enhancing and restoring the species, habitats, and ecosystems that are the heart of our environment.”

In 2022, on behalf of four commercialized projects, Apex awarded grants to support the following initiatives:

• In Kansas, Ducks Unlimited ($198,000) will restore acquired croplands along the Neosho River back to native grasses and install water management capabilities to improve wetland functions and expand public recreational lands.
• In Iowa, The Nature Conservancy ($170,000) and Practical Farmers of Iowa ($55,000), alongside the U.S. Fish and Wildlife Service, will restore a total of 18 degraded oxbow wetlands across the state, with a primary focus within the Boone River Watershed, one of the last remaining homes of the federally and state-endangered Topeka shiner.
• In northeastern Texas, The Conservation Fund ($450,000) will acquire 450 acres of old-growth bottomland forest and associated habitat for preservation. The land will be transferred to the U.S. Fish and Wildlife Service for addition to the Little Sandy National Wildlife Refuge, linking almost 20,000 acres of nearly contiguous and perpetually preserved private and public lands along the upper Sabine River corridor.
• In Huntsville, Texas, Bat Conservation International ($200,000) will work alongside Texas Parks and Wildlife and the Texas Department of Criminal Justice to restore or relocate a colony of nearly one million Mexican free-tailed bats from a critical historic bat roost.
• In the Texas Panhandle, Ducks Unlimited ($150,000)—through the Texas Playa Conservation Initiative partnership with the Playa Lakes Joint Venture—Texas Parks and Wildlife, and other partners will restore, manage, and enhance playas, a critical wetland habitat for bats, other wildlife, and people.

For every commercialized Apex project, the Conservation Grant Program contributes a sum of money proportional to the size of the project (approximately $1,000/MW or more) to support local or regional wildlife conservation, reforestation and flora restoration, or other environmental remediation investments in or near the project communities.

In 2021, Apex awarded its first round of conservation grants, totaling $492,000, to Prairie Land Conservancy, Grand Prairie Friends, Ducks Unlimited, and The Conservation Fund.

About Apex Clean Energy

Apex Clean Energy was founded with a singular focus: to accelerate the shift to clean energy. Through origination, construction, and operation of utility-scale wind, solar, and storage facilities, distributed energy resources, and green fuel technologies, Apex is expanding the renewable frontier across North America. Our mission-driven team of more than 400 professionals uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information about how Apex is building the energy company of the future, visit www.apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.

Apex Clean Energy
Cat Strumlauf
Director | Corporate Communications
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DUBLIN--(BUSINESS WIRE)--The "Oil Storage Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global oil storage market is expected to grow from $8.98 billion in 2021 to $9.36 billion in 2022 at a compound annual growth rate (CAGR) of 4.15%. The oil storage market is expected to reach $11.01 billion in 2026 at a compound annual growth rate (CAGR) of 4.16%.

The oil storage market consists of sales of oil storage by entities (organizations, sole traders, and partnerships) that refer to reservoirs or containers used to store oils. The oil storage tank is used to hold oil products temporarily before they are transported to end-users. Oil storage has different types of sizes like small, medium, and large-scale storage. Oil storage is used by companies to get more profits by using the cheapest storage method called underground spaces like the depleted reservoir.

The main types of oil storage include pen top tanks, fixed roof tanks, floating roof tanks and others. The open-top tank refers to process-oriented tanks and is typically used for blending or containment such as chroming tanks, dipping tanks, and batch tanks. These are used in industries as secondary containers for liquid storage.

These tanks are used for the storage of crude oil, gasoline, aviation fuel, naphtha, diesel, kerosene and liquefied petroleum gas (LPG). The different materials used in oil storage include steel, carbon steel, fibreglass reinforced plastic (FRP) and others.

North America was the largest region in the oil storage market in 2021. The regions covered in the oil storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increase in the demand of crude oil supply is expected to propel the growth of the oil storage market. Oil storage is used for storing crude oil, petroleum, and other oil products that are further supplied to end-users. The increase in demand of crude oil supply is due to an increase in consumption of crude oil products like petroleum, oil, and gas. As the oil consumption grows, it will increase the demand of crude oil supply and there will be a significant need for oil storage.

For instance, according to the International Energy Agency (IEA), consumption of natural gas in India is expected to reach 25 billion cubic meters with an annual growth of 9% by 2024, and also, according to the Indian Brand Equity Foundation (IBEF), oil demand in India is expected to grow by 50% by 2030 compared to 7% growth for global demand. Therefore, the increase in the energy of crude oil supply is expected to drive the oil storage market.

New product launches are a key trend gaining popularity in the oil storage market. New product launch refers to new product development and launching the product into the market. Key players are focusing on launching new products to increase their portfolio and capture additional revenue.

The countries covered in the oil storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Major players in the oil storage market are

• Belco Manufacturing Co Inc
• Brooge Energy
• Containment Solutions Inc
• LBC Tank Terminals
• L F Manufacturing Inc
• Oiltanking GmbH
• ZCL Composites
• Oman Tank Terminal Company
• Columbian Steel Tank
• Vitol Tank Terminals International BV
• Ghazanfar Group
• Horizon Terminals Ltd
• Waterford Tank & Fabrication

Key Topics Covered:

1. Executive Summary

2. Oil Storage Market Characteristics

3. Oil Storage Market Trends And Strategies

4. Impact Of COVID-19 On Oil Storage

5. Oil Storage Market Size And Growth

5.1. Global Oil Storage Historic Market, 2016-2021, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Oil Storage Forecast Market, 2021-2026F, 2031F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Oil Storage Market Segmentation

6.1. Global Oil Storage Market, Segmentation By Product Design, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Open Top Tank
• Fixed Roof Tank
• Floating Roof Tank
• Others

6.2. Global Oil Storage Market, Segmentation By Product Design, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Crude oil
• Gasoline
• Aviation fuel
• Naphtha
• Diesel
• Kerosene
• Liquefied Petroleum Gas (LPG)

6.3. Global Oil Storage Market, Segmentation By Materials, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Steel
• Carbon Steel
• Fiberglass Reinforced Plastic (FRP)
• Others

7. Oil Storage Market Regional And Country Analysis

7.1. Global Oil Storage Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7.2. Global Oil Storage Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/vv1pvc-storage?w=4

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Form’s 100-hour iron-air battery system to expand access to reliable, low-cost renewable energy generated for Xcel Energy’s Minnesota and Colorado customers

BOSTON--(BUSINESS WIRE)--Form Energy, Inc., an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, announced today that it has entered into definitive agreements with Xcel Energy (NASDAQ: XEL) to deploy its iron-air battery systems at two of Xcel Energy's retiring coal plant sites. The storage technology will allow Xcel Energy to integrate more low-cost, renewable energy into its system and maintain reliability as it retires the coal plants in the coming years and transitions to a highly renewable future.

Xcel Energy–Minnesota will deploy a 10 MW / 1,000 MWh multi-day storage system at the Sherburne County Generating Station in Becker, Minnesota. Xcel Energy–Colorado will deploy a 10 MW / 1,000 MWh multi-day storage system at the Comanche Generating Station in Pueblo, Colorado. Both projects are expected to come online as early as 2025 and are subject to regulatory approvals in their respective states.

Bob Frenzel, Chairman, President and CEO of Xcel Energy, said: “We’re on track to reduce our electric system carbon emissions 80% by 2030 and to deliver carbon-free electricity by 2050. As we build more renewable energy into our systems, our partnership with Form Energy opens the door to significantly improve how we deliver carbon-free energy so that we can continue to provide reliable and affordable electric service to our customers well into the future.”

Form Energy and Xcel Energy collaborated on extensive modeling with Formware™, Form Energy’s next-generation investment and operational modeling tool for power grids. This modeling helped Xcel Energy validate how Form’s multi-day storage will enhance Xcel Energy’s ability to reliably and cost-effectively integrate large amounts of wind energy and other renewable resources on its system. Additionally, this analysis demonstrated that Form Energy’s 100-hour iron-air battery technology will strengthen the grid against normal day-to-day, week-to-week, and season-to-season weather variability, in addition to extreme weather events including severe winter storms and polar vortex events.

Mateo Jaramillo, CEO and Co-founder of Form Energy, added: “Xcel Energy operates across some of the richest wind-resource areas in North America. We’re very pleased to work with the Xcel Energy team to maximize use of its renewable generation by providing a technology solution that will ensure their customers benefit from reliable and cost-effective service year-round. This partnership highlights Xcel Energy’s commitment to ensuring grid resiliency and reliability, energy security, and access to low-cost clean energy when and where it is needed – every day of the year.”

About Form Energy

Form Energy is a U.S. energy storage technology and manufacturing company that is developing and commercializing a pioneering iron-air battery capable of storing electricity for 100 hours at system costs competitive with legacy power plants. Form’s multi-day battery will reform the global electricity system to run on 100% low-cost renewable energy, every day of the year.

To learn more about Form Energy, please visit www.FormEnergy.com.

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.

Sarah Bray
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Kevin Coss
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612-215-5300

Leading finance-focused public relations firm unveils new name and look while celebrating a legacy of creative, client-focused communications efforts

NEW YORK--(BUSINESS WIRE)--MacMillan Communications, a leading provider of public relations services to the finance industry since 1996, today unveiled its new brand: Craft & Capital.

Founded by Mike MacMillan, one of the early innovators in providing communications services to asset managers, the now rebranded Craft & Capital works with some of the biggest names in finance as well as numerous entrepreneurial firms disrupting key corners of the investment and wealth management universes.

Staying true to its roots, the firm continues to be among the leading providers of highly strategic and impactful media relations campaigns, generating sustained and significant coverage for clients in top-tier and key vertical press. Additionally, the firm has built a robust content creation team and provides key support and guidance for client social media efforts, events, marketing initiatives, and much more.

“When you’ve built a legacy as strong as ours, you don’t take rebranding lightly. But after a lengthy and thoughtful process, we’re thrilled to be unveiling our new name as we honor our past and look forward to the next chapter in our story,” said Chris Sullivan, President of Craft & Capital and team member since 2005. “Our craft is communications. Our capital is our expertise. Those factors, in combination, make us who we are and will continue to drive us and our clients forward together.”

In addition to sharing the firm’s new name, Craft & Capital is also pulling back the curtain on their new website at www.craftandcapital.com, which features a refreshed look, new color scheme, and more detailed information for clients and potential clients on the work done by the firm and the people making those efforts happen.

“Since telling people’s stories is at the core of what we do, we wanted our website to tell our own story well,” said Julia Stoll, Associate Vice President, Media Relations & Business Development with Craft & Capital and a member of the team since 2018. “Our new site is as dynamic as our exciting new brand, and we’ll be continuing to add updates and insights on a regular basis.”

“This is a very exciting day for our team and we’ve been thrilled with the early feedback from both our clients and our contacts in the media,” added Aaron Siegel, Vice President, Craft & Capital and member of the team since 2009. “Under our new name, we look forward to remaining a crucial conduit connecting the thoughts of industry-leading clients with industry-moving journalists. Both groups can expect to receive the same high level of responsiveness and opportunities for connection that few other firms can foster.”

Craft & Capital, which has a global reach and works regularly with media on six continents, will continue to be headquartered in New York and will also have team members working in-market in Los Angeles, Boston, and other parts of the country.

“We couldn’t be prouder of what we have built and with the outstanding roster of clients with whom we have the privilege to work in ETFs and mutual funds, wealth management, education and membership organizations, fintech, research and data, the nonprofit space, and more,” added Sullivan. “Our clients are at the core of everything we do and with this new brand we’ve captured, in what we think is a succinct and memorable way, what powers our efforts on their behalf.”

The Craft & Capital team will be attending a number of 2023’s largest asset and wealth management conferences, including Exchange, which will be taking place February 5^th – 8^th in Miami Beach, FL. Sullivan will be moderating the “Meet the Press” panel on Sunday, February 5^th, where attendees will be able to learn directly from the journalists themselves how they think about their work and how they look to engage with experts in various fields.

About Craft & Capital

Craft & Capital is an award-winning communications firm focused on the financial services industry. Category leaders and fast-growing entrepreneurial firms work with Craft & Capital to develop clear, consistent messaging and build impactful communications programs that encompass a range of approaches and platforms. Specializing in media relations and content creation, Craft & Capital has been a leader in its field for close to 30 years, tracing its roots to 1996 when it was founded under the name MacMillan Communications. For more information, please visit www.craftandcapital.com.

Media Contact:
Julia Stoll
Craft & Capital
(212) 473-4442
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SAN FRANCISCO--(BUSINESS WIRE)--Linea Energy (“Linea”), an independent renewable energy developer and power producer, today announced that it has secured a significant capital commitment from EnCap Investments, L.P. (“EnCap”), a leading provider of growth capital to the independent sector of the U.S. energy industry. EnCap’s Energy Transition Fund, the renewable energy investment arm of EnCap, is currently making new commitments to management teams from EnCap Energy Transition Fund II.

Linea is a newly formed independent power producer modernizing how clean energy is developed and financed to rapidly increase the speed of deployment. Linea’s partnership with EnCap positions the company to execute on its growth strategy of accelerating the decarbonization of the U.S. electricity grid through developing, owning, and operating utility-scale wind, solar, and battery energy storage projects. Linea will build its portfolio through greenfield development and strategic project acquisitions with an initial market focus on MISO (Midcontinent Independent System Operator), PJM (Pennsylvania-New Jersey-Maryland Interconnection), and ERCOT (Electric Reliability Council of Texas).

“We are delighted to partner with the EnCap Energy Transition team to develop and operate a world class portfolio of renewable energy and battery energy storage projects,” said Cassidy DeLine, Chief Executive Officer of Linea. “With EnCap as our partner, we have the capital and strategic positioning to develop and manage a technology-diverse renewables portfolio in key liquid power markets across the U.S.”

DeLine added, “We are focused on how we can accelerate the clean energy transition through relentlessly efficient development and innovation. We are excited to immediately begin contributing to the transition to a lower carbon clean energy system that will meet the needs of electricity consumers across the country.”

“The partnership with Linea Energy is a strong fit within EnCap’s strategy to create and grow platforms that decarbonize the U.S. electricity grid and address the changing U.S. electricity market,” said EnCap Energy Transition Managing Partner Kellie Metcalf. “Linea’s management team members have demonstrated individual track records and complementary skill sets. We are delighted to be working with the Linea team and are confident that they will build a world-class renewable energy platform.”

Linea brings together industry veterans Cassidy DeLine (Cypress Creek), Benoit Vallieres (Brookfield, BP, DTE Energy), and Jonathan Vesdekas (Orsted, Invenergy). The company has added additional renewable energy professionals since its formation and will continue to grow the team throughout 2023.

For more information, visit the Linea Energy website.

About Linea Energy

Linea Energy is a utility scale, independent renewable energy developer and power producer accelerating the development, construction, and operation of low-carbon energy systems, including wind, solar, and battery energy storage across the U.S. The company is planning nearly 1 GW of renewable energy development annually. Linea Energy’s philosophy toward renewable energy development and deployment is rooted in the innate stewardship of the land and communities it works with. For more information about Linea Energy, please visit lineaenergy.com.

About EnCap Investments L.P.

Since 1988, EnCap Investments has been a leading provider of growth capital to the independent sector of the U.S. energy industry. The firm has raised 24 institutional investment funds totaling approximately $40 billion and currently manages capital on behalf of more than 350 U.S. and international investors. Founded in 2019, the EnCap Energy Transition platform is led by four Managing Partners, each with 30-35 years of experience in the development and operations of renewables and power generation. For more information, please visit www.encapinvestments.com.

Linea Media Contact
Chrisie Yabu, APR
KPS3
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775-686-7437

EnCap Media Contact
Meredith Hargrove Howard
Redbird Communications Group
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210-737-4478

The BuildESG Index provides members with proprietary data, research and recommendations to benchmark the ESG performance of private equity and venture capital firms relative to peers and the BuildESG Asset Manager Maturity Framework

NEW YORK--(BUSINESS WIRE)--BuildESG, the leading ESG insights platform and trusted ESG partner, has launched its Asset Manager benchmarking and framework solution to allow its members to efficiently assess and effectively manage their environmental, social and governance programs.

The BuildESG Index:

• Compares an asset manager’s ESG maturity against a representative set of 85 North American and European private equity and venture capital firms (as of January 2023).
• Assesses (i) ESG-related asset manager operations and portfolio company management and (ii) environment, social and governance practices across 19 categories.
• Analyzes the most recent and relevant asset manager data derived from both publicly disclosed and private sources.
• Is available within the BuildESG software platform and in the BuildESG Deep Dive report, both available to BuildESG members.

Why the BuildESG Index Matters:

• Compares an asset manager’s ESG maturity against competitors and industry leaders, informs a strategic roadmap via suggested action items and KPIs, helps visualize areas for improvement and reveals the ESG investment strategies of best-in-class firms.
• Provides asset managers with third-party, evidence-based analysis of fundamental ESG policies, processes and programs that limited partners and regulators are seeking.
• Provides limited partners with a data-driven analysis to assess their managers’ ESG competence across private markets asset classes, geographies and sectors.

The BuildESG Index and Deep Dive Report are both included in BuildESG’s membership which also includes access to a fluid workflow management software, qualified ESG industry leaders and experts with a strong track record, tailored training and education per asset manager ESG maturity level, a rapidly growing repository of data-driven content and thought leadership, a comprehensive ESG toolkit, a collaborative members-only forum, and a pre-vetted ESG network. BuildESG members include alternative investors, such as limited partners, middle-market private equity firms and venture capital firms, their portfolio companies and independently owned small and medium-sized businesses.

To learn more, please contact This email address is being protected from spambots. You need JavaScript enabled to view it. or visit https://buildesg.com.

About BuildESG

BuildESG is a membership-based intelligence platform. BuildESG provides actionable, evidence-based ESG insights for alternative investors and SMBs with leading software and ESG experts. For over 20 years, BuildESG’s subsidiaries have provided trusted ESG advisory services to the Fortune 500 and global private equity firms. BuildESG has offices in New York; Greenwich, Conn.; and Berkeley, Calif.

Della Jung
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(909) 767-2202

In the year and half since launching AeroVanti Club, AeroVanti has completely reinvented private air travel. Now, it’s time to turn to the sea.

SARASOTA, Fla.--(BUSINESS WIRE)--AeroVanti Club, which has completely transformed private aviation through an inclusive and competitive membership model, has now turned its sights to the sea, today announcing the launch of AeroVanti Yacht Club. AeroVanti Yacht Club will offer members a luxury yachting experience unlike anything available today through AeroVanti’s unique membership structure, combining the affluence and comfort of yachting with the incredible value and convenience unique to AeroVanti Club members. Charters begin March 31, 2023.

Headquartered in the Tampa/St. Petersburg, Florida area, AeroVanti Yacht Club features three of the most distinctive vessels around: “Casino Royale,” “Permit” and “En Garde,'' each of which offers a completely unique maritime experience. “Casino Royale” is a 108-foot Sunseeker Predator that combines the opulence of a Mediterranean luxury charter with a dash of Hollywood charm. The “Casino Royale” was featured in the 2006 James Bond movie, “Casino Royale,” appearing as the floating lair of the villain.

“Permit” is a 50-foot Buddy Davis sportfishing boat that would make Hemingway proud. Featuring the fighting chair from the storied fishing boat, “The Hooker,” members can charter “Permit” for their next fishing tournament.

And for those who want a once-in-a-lifetime experience of competitive sailing reminiscent of The Rolex Cup, there’s “En Garde,” a 50-foot Cookson sailboat that sails competitively for the AeroVanti Sailing Team and is also available for charter to recreate that experience for guests.

“We launched AeroVanti because we believe you can experience both luxury and value in private aviation,” said AeroVanti Founder and CEO Patrick Britton-Harr. “And the incredible growth we’ve experienced in the year and half since launching demonstrates that people are hungry for these exclusive travel experiences. Now, we’ve set out to completely redefine the modern yacht club – with three of the most memorable vessels at sea – just like we did with private aviation.”

Since launching in July 2021, AeroVanti has experienced 400% growth, led by multiple M&A events to support expansion, two historic fundraising rounds of more than $100 million, and exclusive partnerships with the University of Maryland, University of Central Florida, and the World Champion Tampa Bay Buccaneers. AeroVanti was named a 2023 “startup to watch” by both the Baltimore Business Journal and the Tampa Bay Business Journal.

About AeroVanti Club

AeroVanti Club is redefining luxury travel by air, land, and sea. AeroVanti Club offers its members exclusive private aviation and yachting experiences through a unique membership model that offers luxury, convenience, and value. AeroVanti Club’s air fleet, primarily made up of the sleek Piaggio P180 Avanti, is faster, more fuel-efficient, and more comfortable than its competitors, while operating with the lowest carbon footprint in its class. AeroVanti Yacht Club features three of the most unique vessels on the sea: “Casino Royale,” a 108-foot Sunseeker Predator, “Permit,” a 50-foot Buddy Davis fishing boat, and “En Garde,” a 50-foot Cookson sailboat also raced by the AeroVanti Sailing Team. To apply for membership or schedule your trip, please visit Aerovanti.com and AVYC.com.

Patrick Britton-Harr, AeroVanti Yacht Club Founder and CEO
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Industry group takes lead in bridging the information gap between English and Spanish speakers

CLEVELAND--(BUSINESS WIRE)--Portable generators are a critical tool used by consumers throughout the U.S. to provide emergency backup power during power outages caused by polar storms, hurricanes, fires, tornadoes and other extreme weather events to power heaters/air conditioners, appliances, critical home medical equipment, refrigerators, and other essential needs. The Portable Generator Manufacturers’ Association (PGMA) recognizes the importance of reminding all U.S. residents how to safely use portable generators as a secondary source of power prior to and where severe weather is happening.

Unfortunately, last fall, new research funded by the National Oceanic and Atmospheric Administration (NOAA) revealed that Spanish-speaking U.S. residents were at greater risk during severe weather because the Spanish words used by NOAA’s National Weather Service and the Federal Emergency Management Agency (FEMA) for severe weather do not carry the same level of urgency needed to spur protective action as the English words used for these warnings. NOAA’s findings that the language a person speaks can impact their ability to prepare for severe weather should concern all of us. It has been a critical part of PGMA’s mission to take proactive steps now to prevent tragedy in the future.

To ensure all U.S. residents, including the 41 million native Spanish-speakers in the United States (plus a further 11.6 million who are bilingual), have access to critical generator safety information, the Portable Generator Manufacturers’ Association has taken its own steps to ensure Spanish-speakers have access to easily understandable, high-quality generator safety information. A commitment to bilingual delivery of safety messaging is an extension of PGMA’s core mission.

First, PGMA’s dedicated safety website, www.takeyourgeneratoroutside.com, is now automatically responsive to a web browser’s language setting. Meaning if a Spanish-speaking household has set its browser’s language preference to Spanish, www.takeyourgeneratoroutside.com will automatically present itself in Spanish. Further, the site also has a toggle button located in the bottom right of its footer to manually change language from English to Spanish and back as needed.

Also, PGMA’s public information officer, Guillermo Rodriguez, is bilingual and available to deliver critical safety messaging in English or Spanish, depending on the needs of the audience. Guillermo can be reached through the press section of the takeyourgeneratoroutside.com website. He is available to provide information in times of crisis, but also in times of preparation, before severe weather strikes. Guillermo is sensitive to the needs of Spanish speakers and is passionate about delivering accurate, compelling information to this audience.

About PGMA

The Portable Generator Manufacturers’ Association (PGMA) is a trade association that seeks to develop and influence safety and performance standards for our industry’s products. The Association is also dedicated to educating consumers and tradespersons on the safe use of portable generators and has developed the Take it Outside^™ campaign to support its mission. Formed in 2009, PGMA members include major manufacturers of portable generators sold in North America and a significant majority of the industry. www.pgmaonline.com.

Member companies include: American Honda Motor Co., Briggs & Stratton, LLC, Champion Power Equipment, DuroMax Power Equipment, Firman Power Equipment, Generac Power Systems, Harbor Freight Tools USA, Inc., Yamaha Motor Corp USA, and associate members, Figaro USA, Inc., GenTent Safety Canopies, and Nemoto Sensor Engineering Co., Ltd.

Pete Zeller
216.579.6100 ext. 2
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DALLAS--(BUSINESS WIRE)--Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the majority recapitalization of its client, Oceanwide Repair, with Fletch Equity (Fletch). The Fletch team will be partnering with the founders of Oceanwide to grow the company’s capabilities, scale and geographic footprint. The acquisition closed January 18, 2023.

Located in Long Beach, California, Oceanwide Repair (Oceanwide), provides marine ship repair services for a variety of vessels from tugboats and barges to very large oil tankers, bulk carriers, passenger ships, and container ships. Revenue is derived from structural steel repairs, piping repair and fabrication, mechanical and rigging, underwater hull repair, and other critical services.

The Company serves diversified markets including commercial vessels, US Maritime Administration (MARAD), Military Sealift Command (MSC), and related entities. Oceanwide is the largest ship repair force in the Long Beach/Los Angeles, CA Port area with Repair facilities also in Oakland/San Francisco, CA and recently opened in Tacoma /Seattle, WA. The Company offers a 24-hour Emergency Ship Repair Service to complete necessary repairs in the given time frame.

Fletch Equity, located in Los Angeles, California, is a private equity group that invests in and partners with family and entrepreneur owned businesses in the U.S. and Canada. Their founding team has collectively spent 40 years executing buy and build strategies in the lower middle market developing valuable businesses across a wide range of industries including business and consumer services, industrials, transportation and healthcare services.

Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham, and his team, led by Managing Director, M&A, Mike Meredith successfully closed the deal.

“Fletch Equity looks forward to working with the sellers to expand the Company over the next several years,” said Meredith.

About Generational Equity

Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.

Carl Doerksen
972-342-0968
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LONDON--(BUSINESS WIRE)--Changeblock, a global carbon market technology company that develops innovative technologies for creating high integrity tradeable offsets from trustworthy and transparent sources, today announced a collaboration with UK fintech innovator Cargo Finance, a provider of liquidity solutions for alternative assets to deliver at least $10 million USD in liquidity for environmental credits on the Changeblock platform. The first tranches of liquidity will be released in the next three months.

The collaboration empowers Changeblock on its mission to unite the environmental market and make it universally accessible and effective and provide straightforward capital solutions to project developers and clean technology companies producing high quality environmental credits, promoting a high-integrity, global environmental market. Cargo Finance and Changeblock's collaboration will help organizations and professionals to unlock the value of the environmental markets, and together they will help establish a more transparent and secure market for environmental credits.

Changeblock's CEO Billy Richards, a computational biochemist-cum-entrepreneur, who was educated at the University of Oxford said, "We are excited to be collaborating with Cargo Finance to bring much needed liquidity to the environmental credit market. This collaboration marks just the beginning of what we hope to be a year of liquidity, broken barriers, and efficiency gains for the high integrity carbon market of the future. It will additionally help to make environmental credits more accessible and more attractive to investors. We believe it will help to drive the growth of the market and help bridge private sector finance into biodiversity preservation and climate change mitigation."

Simon Barducci, CEO of Cargo Finance, said, "We are thrilled to be working with Changeblock to bring liquidity to the environmental credit market. Our collaboration will help to establish a more transparent and secure market for environmental credits and make them more attractive to investors. We believe it will help to drive the growth of the environmental credit market and support the transition to a more sustainable future."

About Changeblock

Changeblock creates global markets that make the creation and trade of environmental assets for individuals, businesses, and governments easy, affordable, transparent, secure, and environmentally responsible. The company is led by professionals with deep expertise in technology and environmental credits with proven track records of building and delivering solutions that work in the real world, including members of the team that created the first carbon credit, and come from top global organisations.

About Cargo

Cargo began its journey in the second half of 2021 as a research project investigating liquidity for alternative assets. In 2021 we won the First Prize at ETHGlobal for a novel innovation which built upon several cutting-edge technologies in the market. By 2022 we had integrated a number of partner systems and realized we could use our systems to overcome fragmentation and provide liquidity and later that year we went live for structured products and permissioned pools for regulated entities.

Media contact:

Cameron Thomas for Changeblock
416 660 9801 (Canada)
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Bertram brings 20+ years of retail industry experience with Royal Ahold Delhaize, Walmart Inc. to advance Divert’s mission to solve the wasted food crisis

WEST CONCORD, Mass.--(BUSINESS WIRE)--#Divert--Divert, Inc., an impact technology company on a mission to Protect the Value of Food™, today announced the appointment of Nicholas Bertram as the founding member of its advisory board. Bertram brings more than 20 years of experience in the retail industry, most recently as the president of The GIANT Company, a subsidiary of Royal Ahold Delhaize N.V.

“Nick is widely respected for his vision and leadership in the retail industry, and has been at the forefront of sustainable retailing,” said Ryan Begin, CEO, and co-founder, Divert, Inc. “His vast knowledge of retail operations and the food supply chain will be invaluable to Divert as we enter this next phase of growth. We are thrilled to welcome Nick as the founding member of our advisory board and are actively working to bring on additional advisors that mirror our shared commitment to building a healthier, more sustainable future.”

During his most recent five years leading The GIANT Company, a major food retailer that includes GIANT, MARTIN’s, GIANT Direct, and GIANT Heirloom Market, Bertram drove historic omnichannel growth in expanded markets and championed the company’s transformation toward zero-waste by connecting it to the shared purpose of its 37,000 teammates.

“Working at every level of retail, from part-time stocker to leading a company, has given me a holistic view of the industry and just how pervasive the wasted food problem is - not only for retailers, but for our larger world,” said Bertram. “Over the last near-decade of my career, Divert was an incredible partner, and I saw firsthand the real impact their solutions had on our business and the broader industry. It is an honor to serve as an advisor as the company accelerates its mission to protect the value of food.”

Prior to The GIANT Company, Bertram held a variety of other senior leadership positions while at Ahold Delhaize spanning commercial integration, merchandising, and store strategy and sales development. Bertram also previously led retail operations for Chicago’s Jewel-Osco, now part of Albertsons Companies Inc., which followed his nearly 12 years of progressive leadership roles at Walmart Inc.

The new advisory board will serve as a guidepost as Divert continues its rapid expansion across the U.S., and its members will focus on corporate strategy, product development, marketing activities, research, and evaluation of results, among other responsibilities. Divert experienced significant business growth in 2022, expanding its retail customer base by nearly 35% to now include nearly 5,400 retail stores.

To learn more about Divert, please visit www.divertinc.com.

About Divert, Inc.
Divert, Inc. is an impact technology company on a mission to Protect the Value of Food™. Founded in 2007, the company creates advanced technologies and sustainable infrastructure to eliminate wasted food, driving social and environmental impact. Divert provides an end-to-end solution that prevents waste by maximizing the freshness of food, recovers edible food to serve communities in need, and converts wasted food into renewable energy. The company works with five Fortune 100 companies and nearly 5,400 retail stores across the U.S., helping food retailers to reach their sustainability goals. For more information on Divert, Inc., please visit www.divertinc.com.

Divert Media Contact
Caroline Legg
Director of Public Relations
(203) 313-4228
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DUBLIN--(BUSINESS WIRE)--The "Argentina Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026" report has been added to ResearchAndMarkets.com's offering.

GlobalData expects Argentina's construction industry to grow by 4.5% in real terms in 2022, supported by the execution of major infrastructure projects and an increase in permits issued in 2021 and 2022.

According to the National Institute of Statistics and Censuses (INDEC), the construction industry's value add rose by 5.8% year on year (YoY) in the first half of 2022. Moreover, the total area approved for building permits grew by 2.1% YoY in the first eight months of 2022. However, the surge in construction material prices and high energy costs, coupled with the supply chain disruptions present major downside risks to the industry's outlook in the coming period.

Argentina's construction industry is projected to expand by an annual average rate of 2.6% between 2023 and 2026, supported by energy, transport, and residential investment. The ongoing construction of 218 roadway projects under the ministry of public works is expected to be completed by 2025.

The National Highway authority of Argentina plans to rehabilitate a total of 2,292km of roads, complete the construction of 261km of highways and have 1,192km of highways under construction, by the end of 2023. Furthermore, as part of the Argentina Rail Modernization Plan for 2030, the Ministry of Transport signed three memorandums of understanding (MoU) in February 2022, with Chinese companies for the development of three rail projects.

To support the energy sector output, YPF S.A., a state-owned energy company and Petronas, a Malaysian based oil and gas company, signed an MOU in September 2022 to build a ARS1.1 trillion ($10 billion) liquefied natural gas (LNG) plant in the country, with a production capacity of 5 million tonnes of LNG annually in the initial period of operation.

Moreover, the China National Nuclear Corporation (CNNC) and Nucleoelectrica Argentina signed an engineering, procurement and construction (EPC) contract worth ARS916.6 billion ($8 billion) in February 2022 for the development of the Atucha III nuclear power plant

Scope

• Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Argentina, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
• Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

• Identify and evaluate market opportunities using the publisher's standardized valuation and forecasting methodologies.
• Assess market growth potential at a micro-level with over 600 time-series data forecasts.
• Understand the latest industry and market trends.
• Formulate and validate strategy using the publisher's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Key Topics Covered:

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context

3.1 Economic Performance

3.2 Political Environment and Policy

3.3 Demographics

3.4 COVID-19 Status

3.5 Risk Profile

4 Construction Outlook

4.1 All Construction

• Outlook
• Latest news and developments
• Construction Projects Momentum Index

4.2 Commercial Construction

• Outlook
• Project analytics
• Latest news and developments

4.3 Industrial Construction

• Outlook
• Project analytics
• Latest news and developments

4.4 Infrastructure Construction

• Outlook
• Project analytics
• Latest news and developments

4.5 Energy and Utilities Construction

• Outlook
• Project analytics
• Latest news and developments

4.6 Institutional Construction

• Outlook
• Project analytics
• Latest news and developments

4.7 Residential Construction

• Outlook
• Project analytics
• Latest news and developments

5 Key Industry Participants

5.1 Contractors

5.2 Consultants

6 Construction Market Data

7 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/ars1ws

Source: GlobalData

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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