Three-year Initiative will Improve Traffic Flow and Safety, and Reduce Carbon Emissions Across Three Southern California Cities

• Program leverages Iteris’ smart mobility infrastructure management expertise and SaaS solutions to support region’s goal of improving safety and mobility for all road users, while increasing sustainability across key signalized intersections in Orange County, California.
• Regional traffic signal synchronization project supports OCTA’s transportation funding program for sustainable traffic management, which has resulted in significant reductions in countywide travel time, fuel consumption and greenhouse gas emissions since launch.
• Deal represents continued demand for Iteris’ specialized consulting services, cloud-enabled managed services and SaaS solutions in a key geographic market.

SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has been awarded a $4.5 million contract from the Orange County Transportation Authority (OCTA) for a regional smart mobility, safety and sustainability program, representing continued demand for Iteris’ specialized consulting services, cloud-enabled managed services and software-as-a-service (SaaS) solutions in southern California, a key geographic market.

OCTA’s three-year regional traffic signal synchronization project with Iteris supports its goals to significantly reduce countywide travel time, fuel consumption and greenhouse gas emissions, while improving safety and mobility, and overall travel experience for all road users, including vehicles, buses, bicycles and pedestrians. By reducing delays and stops on key corridors for passenger vehicles and heavy vehicles, the project will help reduce CO2 emissions and fuel consumption, which in turn will contribute to sustainable environmental and air quality improvements.

Since launch, OCTA’s traffic signal synchronization program has already resulted in a 13% reduction in travel time, a 14% improvement in travel speed, a 52-million-gallon reduction in fuel consumption and a 885 million pound reduction in greenhouse gas emissions.

Under the three-year project agreement, Iteris will upgrade traffic signal communications network and intelligent transportation system (ITS) devices, as well as provide signal timing and coordination services that will improve traffic flow, enhance public safety and decrease stops along Warner Avenue, a major east-west corridor that comprises key signalized intersections spanning three cities – Huntington Beach, Fountain Valley and Santa Ana – in Orange County, California.

The new agreement with OCTA follows contract awards totaling $8.3 million to perform the same traffic signal synchronization services for OCTA, announced in 2020, across Orange County’s Main Street and Katella Avenue corridors.

As part of the two-year operations and maintenance phase of the program, Iteris will deliver its recently launched congestion management service for intersections and arterials to augment OCTA’s traffic management operations on an ongoing basis. This offer bundles Iteris’ expertise and resources with the signal performance measures (SPM) and arterial performance measures (APM) features of Iteris’ ClearGuide® SaaS-based mobility intelligence solution. With ClearGuide SPM™, Iteris experts can monitor the health and safety of intersections, streamline their analysis through configurable alerts, and identify and prioritize optimizations without visiting the field. With ClearGuide APM, the project team can monitor arterial travel times and reliability, prioritize retiming efforts, identify congestion hotspots and understand how highway traffic impacts surrounding arterials. These activities will allow Iteris to proactively maintain optimum signal timing performance.

Earlier in 2021, Iteris announced that the City of Lake Forest, the Pulice-FNF-Flatiron Joint Venture and the OC 405 Partners Joint Venture had selected Iteris’ congestion management service to augment their traffic management operations to reduce congestion and improve safety.

“We are proud to continue to support OCTA’s goal of improving the safety, mobility and sustainability of Orange County road users by embarking on this traffic signal synchronization project,” said Scott Carlson, vice president, Alternative Delivery at Iteris. “This initiative represents the continued expansion of Iteris’ specialized consulting services, SaaS solutions and cloud-enabled managed services across the west coast, and will ultimately help to increase the value, effectiveness and resilience of the region’s existing transportation infrastructure, while also improving air quality and reducing fuel consumption.”

Iteris’ managed services and SaaS solutions are key components of the ClearMobility™ Platform – the world’s most complete solution to continuously monitor, visualize and optimize mobility infrastructure. ClearMobility applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to help ensure roads are safe, travel is efficient, and communities thrive.

About Iteris, Inc.

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

Iteris Forward-Looking Statements

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the awarded contract and benefits and effects of our ClearGuide and ClearGuide SPM solutions and ClearMobility platform. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, our ability to successfully deliver services timely and in a cost-effective manner; government funding and budgetary issues and delays; impact of influences and variances of general economic, political, environment, and other conditions in the markets we address; and the potential impact of product and service offerings from competitors and such competitors’ patent coverage and claims. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).

Media Contact
David Sadeghi
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Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
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Underscores Work to Expedite Channel Improvements for the Greater Good

HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority held its regular monthly meeting on Tuesday. Chairman Ric Campo proudly announced the U.S. Army Corps of Engineers had once again ranked the Houston Ship Channel Number 1 in total tonnage in the United States.

The channel handled more than 275 million short tons of cargo during 2020, exceeding the next largest port by more than 50 million tons.

“This ranking highlights the need to continue to make channel improvements and expedite Project 11 through the widening and deepening of the Houston Ship Channel, to ensure sustainable opportunities for our community and industry for generations to come,” said Chairman Campo.

The commerce that flows through the Greater Port of Houston drives tremendous economic impacts and jobs for the entire nation. The channel helps sustain 3.2 million jobs and contributes $802 billion annually to the American economy.

During its annual Budget Workshop in November, the Port Commission approved the Fiscal Year 2022 Operating and Capital Budget and Five-Year Operating and Capital Plan. The Commission also approved regular updates and increases in Port Authority tariffs and charges.

During the December meeting, Chairman Campo congratulated the Houston Pilots Association on its 100th anniversary.

The next Port Commission meeting is scheduled for January 25, 2022.

About Port Houston

For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at www.PortHouston.com.

Cam Spencer, Director, Government Relations
Office: 713-670-2606; Mobile: 713-909-9768
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Utility-Scale Projects Seek Offtake Partners Amid Surging Demand for Clean Power

CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--Apex Clean Energy today announced the execution of an agreement with Weyerhaeuser (NYSE: WY) for the development of 1,000 megawatts of utility-scale solar and solar-plus-storage projects on Weyerhaeuser property in the southeastern United States.

To date, Apex has commercialized more than $10 billion of utility-scale clean energy projects and transacted with utilities, co-ops, and corporations. Over the past decade, Apex has led the market in sales of clean energy to the C&I market. This collaboration between two industry leaders will accelerate the shift to clean power at a pivotal moment in the energy transition.

“This significant portfolio of clean energy projects will be developed leveraging Weyerhaeuser’s broad and geographically diverse landholdings and Apex’s track record of bringing commercially viable clean energy projects to market,” said Ellen Balfrey, Apex’s senior vice president of finance. “This unique collaboration will create opportunities for all types of energy purchasers who are seeking to decarbonize their operations in the coming years.”

“This agreement with Apex is a great step in advancing Weyerhaeuser’s strategic growth in renewable energy development, and it supports our broader commitment to sustainability and providing natural climate solutions across our land base,” said Russell Hagen, senior vice president and chief development officer for Weyerhaeuser.

Weyerhaeuser owns approximately 11 million acres in the United States. The agreement, which builds on a strong working relationship between Apex and Weyerhaeuser, will enable close coordination and collaboration between the companies to advance potential projects. Apex will lead on development of the portfolio, which includes projects that could reach commercial operations as early as 2023, creating a near-term opportunity for power purchasers to meet their decarbonization goals at scale.

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 300 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 apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.

About Weyerhaeuser
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in America. Our company is a real estate investment trust. In 2020, we generated $7.5 billion in net sales and employed approximately 9,400 people who serve customers worldwide. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

Apex Clean Energy
Cat Strumlauf
Director | Corporate Communications
(434) 227-4196
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NEW ORLEANS--(BUSINESS WIRE)--TAI Engineers, LLC’s design of a passenger, truck and automobile ferry, “Carmen Lee,” has been built and launched by Thoma-Sea Marine Constructors, LLC (TMC) at its Houma, Louisiana, shipyard.

The ferry, projected to begin service in early 2022, was built for a partnership between the Lorain Port Authority (LPA) and Kelleys Island Ferry Boat Line. It can hold 149 passengers and 36 trucks and automobiles. The “Carmen Lee” will operate on Lake Erie providing service between Marblehead, Ohio and Kelleys Island, Ohio.

TAI was selected in a competitive procurement by LPA in conjunction with the Ohio Department of Transportation (ODOT) to provide naval architecture and marine engineering services for the design and specification of this ferry. TAI also provided professional support for the competitive procurement of a shipyard to build the 168’x45’ “Carmen Lee.” TAI’s work included drawing review, construction inspection, as well as test and trial supervision of this ferry during its construction. The Carmen Lee has been built to conform (but not certified) to American Bureau of Shipping (ABS) standards and is inspected by the U.S. Coast Guard.

The double-ended ferry is designed to operate on lakes, bays and sounds. The vessel has a steel hull and deckhouse design and is compliant with USCG 46 CFR Subchapter T regulations. The main deck is high-strength AH 36 steel to withstand tire loadings from up to 36 cars or equipment trucks in four lanes. This quad azimuthing drive ferry is equipped with four Caterpillar C18 propulsion engines 470 BHP at 1,800 RM, each driving Schottel SRP 150FP Z-drives using Twin Disc HPTO hydraulic clutches. This allows precision maneuvering in challenging Lake Erie approaches during harsh weather and provides propulsion redundancy. The vessel has two Onan 40 kW marine gensets. Kelleys Island Ferry Boat Line has a similar ferry called the “Shirley Irene” in operation on this route.

“TAI Engineers and S&B Infrastructure are proud to utilize our marine engineering expertise to help improve transportation, mobility and accessibility for the Lorain Port Authority and Kelleys Island Ferry Boat Line,” said Danny Rios, President of S&B Infrastructure. “TAI’s marine capabilities, especially in passenger and automobile ferries, nicely complement S&B’s transportation and highway design capabilities.”

TAI Engineers, LLC is a subsidiary of S&B Infrastructure, Ltd (S&B), a company that specializes in master planning, transportation and drainage system design and construction, environmental services, facility audits, marine systems and storage tanks. S&B Infrastructure serves governmental customers in the United States, Caribbean, Central and South America.

Lindsay Burke, Director of Communications and Marketing
S&B Infrastructure
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518.879.2101

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”), today provided the following key Expedited Freight Operating Statistics for the month of November 2021. Revenue per shipment increased 60.5%, revenue per hundredweight increased 14.4%, weight per shipment increased 37.0% and pounds per day increased 5.5% over the same period last year.

Tom Schmitt, Chairman, President, and Chief Executive Officer of Forward, commented, “Our critical weight per shipment and revenue per shipment statistics for November were even stronger than in October, and total pounds for the month of November as compared to the same period increased 10.8%, a positive improvement from October. The solid growth is the result of sustained collaboration with our customers on the selection of higher-quality freight in our network and continued strong demand for our premium services. We believe our solid November results illustrate the ongoing positive momentum in our business, and we remain optimistic about Fourth Quarter results based on our performance through November.”

The Company’s expectations regarding the Company’s performance in the Fourth Quarter and in any future quarter are based on information available at the time of this release, and are subject to changing conditions, many of which are outside of the Company’s control. The Company is not adopting a policy or practice of providing monthly updates on its financial performance. Going forward, the Company intends to provide a mid-quarter update on its operational performance through the second month of the quarter but is not in any way adopting a policy of doing so.

About Forward Air Corporation

Forward Air Corporation (NASDAQ: FWRD) is a leading asset-light freight and logistics company that provides services across the United States and Canada. We provide expedited less-than-truckload (“LTL”) services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals. In addition, we offer final mile services, including delivery of heavy-bulky freight, truckload brokerage services, including dedicated fleet services; and intermodal, first-and last-mile, high-value drayage services, both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services. We are more than a transportation company. As a single resource for your shipping needs, Forward is your supply chain partner. For more information, visit our website at www.forwardaircorp.com.

This press release may contain statements that might be considered as forward-looking statements or predictions of future operations including with respect to the Company’s performance for the fourth quarter of 2021. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties including that the Company’s performance in the fourth quarter of 2021 is worse than anticipated. Actual events may also differ from these expectations as a result of the risks identified from time to time in our filings with the Securities and Exchange Commission. We assume no duty to update these statements as of any future date.

Forward Air Corporation
Brandon Hammer, 423-636-7173
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MELVILLE, N.Y.--(BUSINESS WIRE)--December 8, 2021-- Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, today announced that during its first quarter of fiscal 2022, it was awarded an order approximating $2.0 million from Intellian, a leading global maritime satellite communication antenna systems provider. The order calls for Comtech to deliver C-Band and Ku-Band Low Power Outdoor Block Up Converters (“LPOD BUCs”).

Comtech’s field-proven LPOD BUCs will provide Intellian with the ability to offer its customers the utmost reliability in the most demanding of marine environments, such as Cruise, Oil & Gas and Merchant Shipping. Comtech’s LPOD BUC product line provides advanced monitor and control features that enable real-time access to critical performance and status data to ensure that system operators can manage and optimize networks to the highest possible standards.

“Comtech’s proven reliability and optimized package exceed the mechanical, electrical and environmental requirements to meet our customers’ needs,” said Prakash Hari, Senior Director – Product Management.

“Communications at sea is a necessity and a critical component of safety, commerce and leisure. We have a proven track record of delivering highly robust and efficient products to Intellian. Our LPOD BUCs are cost effective solutions, capable of performing in the most demanding of environments,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp.

About Intellian Technologies

Intellian is the global leader in maritime satellite communication antenna systems. Founded in 2004, the fastest growing company in the industry, Intellian has delivered over 15,000 antennas in just five years. Intellian offers a full line of VSAT communications and satellite TVRO antennas for recreational boats and ocean vessels in the commercial, oil & gas markets, and the military. Intellian exports its product to 6 continents and over 40 countries and has established 300 contracted dealers and a support network worldwide. Intellian is headquartered in Seoul, South Korea and has U.S. operations in Irvine, California and Seattle, Washington. Visit www.intelliantech.com for more information.

About Comtech

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in Melville, New York and with a passion for customer success, Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

Comtech Investor Relations:
631-962-7005
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• New Constellation innovation project will enable more renewables to be integrated on to the electricity distribution network and save approximately 17.8m tons of CO² emissions by 2050
• Constellation provides a unique approach to distribution network management through decentralized operation using data analytics and machine learning, reducing reliance on communications to and from the central control systems

SAN RAMON, Calif.--(BUSINESS WIRE)--#constellation--GE Digital today announced that it is partnering with its valued customer UK Power Networks on a world-first smart substation project. The project, known as Constellation, is designed to optimize utilization of the distribution network to facilitate the rise of renewable energy generation across the United Kingdom.

Constellation is a world-first innovation project that will see powerful computers installed in a series of substations, turning them into smart substations. To do this, Constellation will leverage advances in software engineering, machine learning, and system optimization to make substations interoperable and secure. The project aims to release 1.4 GW of capacity (enough to power more than 700,000 homes) and save consumers more than £750 million by 2050. It is also forecast to save more than 17.8m tons of harmful greenhouse gas emissions by 2050.

A key aspect of Constellation is the installation of GE Digital’s PhasorController in substations to enable the deployment of multiple smart applications. This will include functionality to optimize distribution network utilization and contribute to net-zero targets while reducing the need for investment in additional infrastructure.

Ian Cameron, head of customer service and innovation at UK Power Networks said: “UK Power Networks is adapting to increasingly complex power flows by becoming smarter so we can safely release more capacity and enable more renewable energy to connect at lower cost – saving customers money and helping the environment at the same time. We already have smart control rooms and grid edge devices like smart electric vehicle chargers. Having smart substations in the middle pulling it all together is a logical next step.”

PhasorController distributes intelligence and control to the substation and Distributed Energy Resources (DER) connections to complement the existing central control, providing resilience and continuity of DER operation when communications links are unavailable. Currently, when a utility loses communications, it will fall back to safe power level which can lead to time periods when DER cannot operate. The solution uses data analytics and machine learning (ML) to incorporate data from periods when communication and the network is managed normally. This then “trains” Machine Learning models centrally and then distributes the models to the local renewable generation controls, so they are ready to go live if/when communications are lost.

As the share of renewables in the electricity mix continues to grow, network operators are increasingly looking at ways to integrate them into the grid more efficiently. The Constellation project will develop a model that can be used to help UK Power Networks with an anticipated increase in distributed energy resources and to move the country closer to its 2050 target for zero carbon electricity. Renewable power generation and DERs like electric vehicles and solar, connected to regional networks, are forecast to grow tremendously by 2050. By accessing data regarding the operations of various distributed grid devices, UK Power Networks will leverage analytics to match its changing energy demands with generation, and in turn, be able to expand its portfolio of renewable energy resources and energy flexibility capacity for grid reliability and improved customer services.

“Constellation marks a transformation in the way electricity networks operate,” said Jim Walsh, General Manager of GE Digital’s Grid Software business. “It will release reliable grid capacity in previously constrained situations. The combination of high-resolution data, advanced analytics, and flexible controls enable the network to operate reliably within its capability without over-conservative limits. It will also provide a foundation for additional smart solutions, further benefiting customers.”

More information about GE Digital’s Grid Software solutions can be found here.

About GE Digital
GE Digital transforms how our customers solve their toughest challenges by putting industrial data to work. Our mission is to bring simplicity, speed, and scale to digital transformation activities, with industrial software that delivers breakthrough business outcomes. GE Digital’s product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors change the way industry works. For more information, visit www.ge.com/digital.

About UK Power Networks
UK Power Networks is the UK’s biggest electricity distributor, making sure the lights stay on for more than eight million homes and businesses across London, the South East and the East of England. Network operators aren’t the same as energy suppliers; network operators manage local power lines and substations, while energy suppliers sell the electricity that runs through the power lines. UK Power Networks continues to be listed in the Sunday Times’ Top 25 Best Big Companies to Work For. The company invests more than £600 million in its electricity networks every year, offers extra help to vulnerable customers at times of need, and is undertaking trials to ensure that electricity networks support the transition to a low carbon future. It also moves cables and connects new electricity supplies. If you have a power cut ring 105, see www.ukpowernetworks.co.uk or tweet us @UKPowerNetworks.

Media:
GE Digital
Ellie Holman
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MINNEAPOLIS--(BUSINESS WIRE)--The Board of Directors of Xcel Energy Inc. (NASDAQ: XEL) today declared a quarterly dividend on its common stock of 45.75 cents per share. The dividends are payable January 20, 2022, to shareholders of record on December 22, 2021.

Xcel Energy is a major U.S. electricity and natural gas company, with operations in 8 Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.7 million electricity customers and 2.1 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

This information is not given in connection with any sale or offer for sale or offer to buy any securities.

Statements in this press release regarding Xcel Energy’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company's Annual Report on Form 10-K for the most recently ended fiscal year.

Xcel Energy, Minneapolis
Shareholder Services
Darin Norman (612) 337-2310
or
Paul Johnson, Vice President, Treasurer & Investor Relations (612) 215-4535
or
Xcel Energy Media Relations Representatives (612) 215-5300

Escalent Names 45 Utilities as 2021 Customer Champions

LIVONIA, Mich.--(BUSINESS WIRE)--#CX--The utility industry’s focus on its customers, communities and the environment throughout the pandemic has elevated its customer engagement, a critical factor in growing company value and influencing energy customer behaviors. Escalent’s ECR (engaged customer relationship) Index, a comprehensive customer relationship measurement used by utility management to assess customer engagement, has grown a significant eight points since pre-pandemic levels in 2019 to a strong 721 (on a 1,000-point maximum scale). ECR has improved as a result of utilities’ increasing support for environmental, social and governance (ESG) efforts. These findings are based upon data from the 2021 Cogent Syndicated Utility Trusted Brand & Customer Engagement™: Residential study by top human behavior and analytics advisory firm Escalent.

Essential to the ECR scoring improvement is proactive outreach. The study shows a 23% increase in utility communication spending since 2019. About three in four (73%) communication topics are focused on ESG. And the communication has paid off, as more than one in three customers (36%) is now highly engaged with his or her utility, 33% use energy-efficiency offerings, 63% use digital or smart energy offerings and 16% use revenue-generating home services offerings.

“What makes the gains in customer engagement most impressive is it strengthened despite increasing bill amounts as service satisfaction metrics remained similar to prior years,” said Chris Oberle, senior vice president, Escalent. “Utilities have ramped up their outreach and ESG focus during the pandemic and the positive impact on their customer relationships was almost immediate. The nation’s best utilities are strong and engaging brands customers look to as trusted energy advisers.”

One area of focus for continued growth in customer engagement is more effective communication in suburban and rural areas. While urban areas have grown customer engagement by a large 19 points since 2019 and now have an average ECR score of 745, suburban (711) and rural (705) customers score their utilities much lower.

Based upon the study, which surveyed customers of 140 electric and natural gas utilities nationwide, we are pleased to name 45 utilities as 2021 Customer Champions. These utilities are the industry’s best at engaging customers in meaningful and profitable ways.

EAST REGION: Customer Engagement Benchmark Performance

MIDWEST REGION: Customer Engagement Benchmark Performance

SOUTH REGION: Customer Engagement Benchmark Performance

WEST REGION: Customer Engagement Benchmark Performance

About Utility Trusted Brand & Customer Engagement™: Residential

Escalent conducted surveys among 78,710 residential electric and natural gas utility customers of the 140 largest US utility companies (based on residential customer counts). The sample design uses a combination of quotas and weighting based on US census data to ensure a demographically balanced sample of each evaluated utility’s customers based on age, gender, income, race and ethnicity. Utilities within the same region and of the same type (e.g., electric-only providers) are given equal weight to balance the influence of each utility’s customers on survey results. The Engaged Customer Relationship (ECR) index is a composite score based upon a 360-degree consumer review of how engaged customers are with their energy utility provider. Scores are composed of ratings across service satisfaction, brand and product experiences. Escalent will supply the exact wording of any survey question upon request.

About Escalent

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

Sarah Keller, 734.779.6847
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Funding will be used to scale the go-to-market team and grow the company's smart scheduling and contactless check-in product lines

HOUSTON--(BUSINESS WIRE)--#entrepreneurs--Velostics, Inc., an enterprise Software-as-a-Service (SaaS) company specializing in automating inbound logistics at industrial facilities, such as terminals, plants and warehouses, today announced it has raised $2.5 million to accelerate its growth. The round was led by Flyover Capital with participation from Small Ventures USA, Cultivation Capital, Starboard Star, Congress Avenue Ventures and BioUrja Ventures. The company is looking to use the funds to acquire top talent across revenue driving functions, including: account management, inside sales, and marketing. Additionally, the company’s AI-driven product innovation will continue at a fast pace to reduce the impact of driver shortages, congestion and delays due to manual scheduling and receiving processes, speed up throughput and improve gate-to-gate performance.

“Flyover is incredibly excited to support the Velostics team in their mission to transform inbound logistics,” said Keith Molzer, Managing Partner at Flyover Capital. “This segment of the supply chain is ripe for better technology to address challenges of congestion, driver labor shortages, and the growing demands of ecommerce. Gaurav and team are an exceptional group of entrepreneurs ready to drive efficiency and a better customer experience at industrial facilities.”

Velostics works with 3PLs, manufacturing plants and bulk terminals to solve problems around inbound truck scheduling, check-in, and loading/unloading. Facilities deploying Velostics see an approximate 90% reduction in scheduling costs, 60% reduction in time to manually check in upon arrival and get to the right door, 7% improvement in gate-to-gate time and throughput, as well as significant customer support cost reduction. The solid value demonstrated by the Velostics solution for current customers is enabling the capture of the $37B inbound logistics management market, which is separating from the warehouse and yard management space.

Gaurav Khandelwal, founder and CEO of Velostics said, “Idling trucks waiting outside facilities emit over 42M tons of CO2 annually, 8x the US national average. By orchestrating the movement of trucks in and out of facilities, not only do we provide tremendous supply chain benefits – we also help the environment. Given that logistics is now 10% of global GDP, growing 5%+ CAGR every year, supply chain disruption is here to stay unless we tackle it aggressively. We’re excited to partner with our customers and our investors to solve global congestion.”

To learn more about Velostics, please visit velostics.com.

About Velostics

Velostics is a logistics and supply chain enterprise Software-as-a-Service (SaaS) company specializing in automating manual and paper-based truck scheduling, check-in and order entry processes for terminals, warehouses and plants. The Velostics® AI platform automates communication between carriers and facilities systems and logistics teams to schedule, check-in, and load vehicles faster and error-free. The location-specific Velostics Pass™ technology and QR code enables required shipment data to be exchanged contactlessly and eliminates delays and paperwork from check-in, shipping and receiving process. Velostics solutions have a proven track record of minimizing delays and demurrage, reducing errors, and increasing operational efficiency and throughput so that companies may achieve strong ROI in just a few months. To learn more, please visit www.velostics.com.

About Flyover Capital

Flyover Capital is a venture capital firm whose mission is to empower the next generation of technology leaders outside of the traditional tech hubs of Silicon Valley and the Northeast. Founded in 2014, Flyover Capital invests in early-stage technology opportunities located in “flyover country” of the United States. Flyover Capital collaborates with entrepreneurs, corporations, universities, and venture capital firms who are transforming the heartland’s largest industries through technology. Flyover Capital has partnered with Montage Investments, an operationally oriented investment firm specializing in alternative investments. For more information, please visit www.flyovercapital.com.

Gaurav Khandelwal
713-628-0507
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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB):

December 2021 Cash Dividend - $0.06 per share

Superior Plus Corp. (“Superior”) today announced its cash dividend for the month of December 2021 of $0.06 per share payable on January 14, 2022. The record date is December 31, 2021 and the ex-dividend date will be December 30, 2021. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.

About the Corporation

Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.

For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).

Forward Looking Information

This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.

In particular, this news release contains forward-looking statements and information relating to: future dividends which may be declared on Superior’s common shares, the dividend payment, the tax treatment thereof, and the receipt of cash dividends. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2020, which can be found at www.sedar.com.

Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.

Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran
Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587)

Addition of new LED lighting technology results in more than $1,250,000 in cost savings from utilities, operations and maintenance

FRAMINGHAM, Mass. & ST. LOUIS--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the completion of its latest phase of work with the Hazelwood School District. The project saw the company implement needed facility upgrades throughout the District and was made possible through the use of Ameresco’s Asset Planner software, which utilizes embedded data to recognize energy savings opportunities.

The Hazelwood School District initially came to Ameresco 18 years ago looking to reduce its overall energy spend and leverage the savings to improve the district’s learning environment. In this newest phase of work, Ameresco retrofitted interior and exterior lighting with new LED lighting technology across all 34 buildings within the District. In total, Hazelwood School District estimates to amass more than $1,250,000 in cost savings in utilities, operations and maintenance, which will allow the school district to implement additional academic and infrastructure upgrades.

Ameresco’s relationship with the Hazelwood School District dates back to 2003. Since the inception of their partnership, the two organizations have completed a variety of projects, including the installation of acoustic ceilings, security upgrade enhancements, and the replacement of outdated HVAC systems across the District.

“The district has been working with Ameresco as a partner for many years to continually improve efficiencies, reduce our energy consumption, and work towards being an energy-responsible school district,” said Christopher Norman, CFO/Assistant Superintendent of Finance and Facilities. “We believe the new LED lighting systems will enhance the overall school experience for our students and staff and will allow us to reallocate the savings towards academics and student services.”

The 2021 LED lighting retrofit project was awarded two separate energy savings awards from Ameren Missouri, the local electric utility, through the BizSavers Program. Hazelwood School District won the Energy Efficiency Champion award and Ameresco won the Trade Ally Star award.

“We have had the privilege of working with the Hazelwood School District for almost two decades now,” said Lou Maltezos, Executive Vice President, Ameresco. “We’re excited to continue to make a positive impact on the learning environment and create a more sustainable future for Hazelwood School District.”

Construction was completed in July of 2021.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

About Ameresco, Inc.

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

About Hazelwood School District

Hazelwood School District is located in St. Louis County, Missouri. Hazelwood SD is the third largest school district in St Louis County and the eleventh largest in the State of Missouri. HSD has 33 schools encompassing just over 3.1m square feet. The student population is over 17,000 students. The district has 11 preschools, 21 elementary schools, 6 middle schools, 3 high schools and an administration building.

The announcement of completion of a customer’s project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was not included in our previously reported contracted backlog as of September 30, 2021.

Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.

Ameresco commends the Administration for accelerating the clean energy transformation

FRAMINGHAM, Mass--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, welcomes President Biden’s recently signed Executive Order focused on advancing clean energy initiatives in a “leadership by example” approach by the Federal Government. The Executive Order sets a new goal for the Federal Government to reach carbon neutrality by 2050 and reiterates its commitment to build clean, equitable and resilient operations at scale.

Among other ambitious goals, the order calls for modernization of the Federal building portfolio to reach net-zero emissions by 2045, including a 50% reduction in building emissions by 2032. In announcing the first-ever Federal Building Performance Standard, the government declared its intention to utilize performance contracting to improve the Federal building portfolio with no up-front costs required. The order also outlines a commitment to achieve 100 percent carbon pollution-free electricity use by 2030, at least half of which will be locally supplied clean energy to meet 24/7 demand. It also calls for at least 10 GW of new American clean electricity production by 2030.

As Electric Vehicle (EV) expansion continues to be a focus following discussions at COP26, the 2021 United Nations Climate Change Conference, the order details the importance of a transition to 100% zero-emission vehicles by 2035 for the Federal vehicle fleet. The achievement of this initiative will create the largest zero-emissions fleet in the Nation.

“Ameresco was founded on the principle of doing well by doing good, and we believe performance contracting has a leading role to play in the clean energy transformation. We applaud the ambitious goals set forth in the Executive Order, and we thank the Biden Administration personnel and Congressional leaders for their work on this effort,” said Nicole Bulgarino, Executive Vice President, Ameresco. “We have been providing performance contracting solutions to our customers for more than 20 years and we look forward to partnering further with the Federal Government on their clean energy initiatives of the future.”

To learn more about Ameresco and the company’s clean energy solutions, visit www.ameresco.com.

About Ameresco, Inc.

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

Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.

DALLAS--(BUSINESS WIRE)--Value Creed, the global leader in around-the-clock CTRM platform managed services, and NTT DATA, a digital business and IT services leader, today announced their partnership to provide CommoditySmart^TM, an optimised commodity trading and risk management solution designed to facilitate market expansion and business process optimisation. The solution combines the power of NTT DATA’S technology expertise and physical presence in over 50 countries with Value Creed’s specialized RunSmart™ CTRM managed services. The partnership enables global organisations using CTRM platforms to accelerate expansion and proactively resolve technical and functional issues.

“By their very nature, CTRM systems are business critical and highly complex, making the skills needed to manage, monitor, and maintain them difficult to source and deploy at the rate modern businesses demand,” noted Priyankar Datta, Managing Director of Value Creed. “Together with NTT DATA’s established physical footprint, diverse expertise, and product offerings, global firms can diversify faster.”

The global initiative launches with Value Creed and NTT DATA’s CommoditySmart^TM Health Check, and CommoditySmart^TM Robotic Process Automation analysis.

“The global economy is expanding faster now than ever before in history. This relationship solves key barriers to growth and modernisation by accelerating access to new markets with a physical presence, technology enablement, and 24-hour service,” said Mark Slaughter, NTT DATA’s, Director of Commodity Management and Trading.

Value Creed’s RunSmart™ managed services will support NTT DATA’s global IT solutions developed over more than a half-century of experience and more than $2 billion investments in research and development. The company is a member of the Fortune Global 100, with over 130,000 professionals assisting businesses in more than 50 countries.

About Value Creed

Value Creed, LLC is the world’s leading dual time zone CTRM services organisation delivering RunSmart™, a revolutionary model for managed services and support model for driving value throughout the CTRM ownership journey. It delivers specialized CTRM solutions including: fast, non-disruptive upgrades, on-demand expertise, daytime and overnight managed services, Cloud migration, implementation, business process outsourcing, robotic process automation, DevOps, utility ISO management and testing services.

For more information, visit ValueCreed.com or call (833) 282-7333. Follow Value Creed on Twitter and LinkedIn.

About NTT DATA

NTT DATA – a part of NTT Group – is a trusted global innovator of IT and business services headquartered in Tokyo. We help clients transform through consulting, industry solutions, business process services, IT modernisation and managed services. NTT DATA enables clients, as well as society, to move confidently into the digital future. We are committed to our clients' long-term success and combine global reach with local client attention to serve them in over 50 countries. Visit us at NTT DATA.

Travis Willoughby
+1 (214) 934-4520
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Series A financing to accelerate market growth for PEP-backed fleet electrification solutions firm.

HOUSTON--(BUSINESS WIRE)--Earlier this week, Merge Electric Fleet Solutions, a premier fleet electrification services and finance company, announced the close of a Series A funding round led by strategic investor Pickering Energy Partners (PEP). The investment demonstrates PEP’s continued leadership in energy transition investing. Merge will use the funding to accelerate its team expansion and broaden its electrification service offerings to additional fleet segments.

As the strategic investor backing Merge, PEP is combining its expertise in energy transition investment with the EV domain experience of Merge’s seasoned management team. Merge’s best-in-class founding team—led by EV-industry pioneer Glen Stancil—delivers electrification solutions for fleet operators across market segments that include energy, healthcare, food and beverage, and home services.

“As the EV market accelerates across the country, now is the time to invest in the future of fleet electrification,” said Dan Pickering, Chief Investment Officer of PEP. “Our team at PEP recognized this opportunity and capitalized on Merge’s unique service to place our clients at the forefront of innovation and the energy transition.”

With PEP’s proven industry knowledge and strategic financial support, Merge is positioned to lead the EV transition through full-service solutions that make fleet electrification simple and affordable. The Merge team brings decades of EV experience from designing, delivering, and operating integrated charging solutions for residential and commercial applications on L2 and DC platforms at over 1,500 sites across 40 states. Merge supports fleets through the entire lifecycle of EV transition including planning, deployment, operations, and financial services to provide customers with a data-driven approach to confidently achieve their operational, economic, and emissions goals.

“Converging market, social, and regulatory tailwinds are pushing businesses of all kinds to embrace fleet electrification,” said Glen Stancil, CEO of Merge. “Merge’s comprehensive fleet electrification solutions deliver the economic, environmental, and experiential benefits of electric vehicles to fleet operators of all types and sizes.”

PEP’s backing of Merge marks a major shift in the energy investing landscape. Just prior to its investment in the EV space, PEP formally launched its Insights, Advisory, and Consulting practices, alongside its merger with Global Natural Resources asset manager, SailingStone Capital Partners. In the last year alone, the PEP team has grown threefold, adding to the firm’s expertise spanning decades across the energy industry. In addition, PEP’s investment teams have collectively deployed $15 billion across all energy and natural resources subsectors since inception (including predecessor companies).

Global law firm Latham & Watkins advised PEP in the financing round.

To learn more about PEP’s business offerings, visit PickeringEnergyPartners.com or contact This email address is being protected from spambots. You need JavaScript enabled to view it..

To learn more about Merge and its fleet electrification capabilities, please visit www.MergeFleet.com or email This email address is being protected from spambots. You need JavaScript enabled to view it..

Walker Moody
(713) 804-7577

• The Company generated net sales of $35.2 million for the third quarter

• Net income was $0.5 million in the third quarter compared to a net loss of $2.9 million in the same quarter of 2020

• Backlog stood at $54.4 million on October 31, 2021 compared to $52.6 million on January 31, 2021

NILES, Ill.--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2021.

“Revenues for the third quarter of $35.2 million were well above the $20.3 million for the same quarter last year. The resulting pre-tax income from operations of $1.5 million was also substantially above the $2.9 million loss incurred in the same quarter of 2020," noted President and CEO David Mansfield.

"As we continue to recover from the effects of the pandemic and business conditions continue to improve, we remain focused on implementing the growth plans that were delayed by COVID-19. Initiatives that were started in the second quarter are now well underway and will better position the Company to take advantage of more opportunities in the future.

"During the quarter we renewed our $18.0 million North American credit agreement for an extended term of five years. In addition, the Board authorized, and the Company commenced a $3.0 million share buyback program. This program does not materially affect the liquidity needed for investments in our growth plans.

"Our current backlog of $54.4 million continues to remain higher than our January 31, 2021 backlog, as new awards have continued to keep pace with the increasing revenues arising each quarter this year.

"As is the case across almost all industries, there continues to be increased challenges with supply chain issues and logistics. We are however taking active steps to minimize any adverse impacts to our business, including increasing our sources of supply and expanding our options for obtaining suitable materials,” Mr. Mansfield concluded.

Third Quarter Fiscal 2021 Results

Net sales were $35.2 million in the current quarter, an increase of $14.9 million, or 73%, from $20.3 million in the prior year quarter. The increase was a result of increased sales volumes in both North America and in the Middle East, North Africa and India region ("MENA") due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's United Arab Emirates ("U.A.E.") business benefitted from the introduction of a new product line subsequent to the third quarter of 2020.

Gross profit increased to $7.6 million, or 22% of net sales, in the current quarter from $2.9 million, or 14% of net sales, in the prior year quarter. This increase was driven by higher sales volumes and project and product mix.

General and administrative expenses were relatively consistent, increasing $0.1 million, or 2%, from the prior year quarter.

Selling expenses increased slightly to $1.3 million in the current quarter, compared to $1.2 million in the prior year quarter.

Net interest expense increased to $0.3 million in the current quarter from $0.1 million in the prior year quarter. This increase was primarily related to the sale leaseback transaction for our operating facility in Tennessee entered into in April 2021.

Other income, net remained relatively consistent, increasing to an income of $0.1 million in the current quarter, compared to approximately zero in the prior year quarter.

Income/(loss) from operations before income taxes increased by $4.4 million to income of $1.5 million in the current quarter from a loss of $(2.9) million in the prior year quarter. The increase was a result of increased sales volumes in both North America and MENA due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line subsequent to the third quarter of 2020.

The Company's worldwide effective tax rates ("ETR") were 67.6% and 0.8% in the current quarter and the prior year quarter, respectively. The change in the ETR from the prior year quarter to the current year quarter is largely due to changes in the mix of income and loss in various jurisdictions and the absence of recognizing tax benefits on losses in the United States due to a full valuation allowance applied against its deferred tax assets.

The resulting net income of $0.5 million in the current quarter was an improvement of $3.4 million over the net loss of $(2.9) million in the prior year quarter. The increase was a result of increased sales volumes in both North America and MENA due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line subsequent to the third quarter of 2020.

Year-to-Date October 31, 2021 Results

Net sales were $99.4 million in the current year-to-date, an increase of $36.0 million, or 57%, from $63.4 million in the prior year year-to-date. The increase was a result of increased sales volumes in both North America and MENA due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line subsequent to the third quarter of 2020.

Gross profit increased to $22.9 million, or 23% of net sales, in the current year-to-date from $8.8 million, or 14% of net sales, in the prior year year-to-date. This increase was driven by higher sales volumes and project and product mix.

General and administrative expenses were $14.6 million in the current year-to-date, an increase of $1.3 million, or 10%, from $13.3 million in the prior year year-to-date. This increase was driven by an increase in personnel-related expenses corresponding to the increased business activity during the period.

Selling expenses decreased to $3.4 million in the current year-to-date, compared to $4.2 million in the prior year year-to-date due to organizational changes.

Net interest expense increased from $0.4 million in the prior year year-to-date to $0.7 million in the current year-to-date. This increase is primarily related to the sale leaseback transaction for our operating facility in Tennessee entered into in April 2021.

Other income, net decreased to $1.0 million in the current year-to-date, compared to $3.7 million in the prior year year-to-date. This decrease was primarily the result of income recorded in the prior year for funds received under the Small Business Administration's Paycheck Protection Program of $3.2 million. Funds received under the Canadian Emergency Wage Subsidy and Canadian Emergency Rent Subsidy programs in Canada during the current year were also less than in the prior year. These decreases were offset by individually immaterial increases in our North American businesses.

Income/(loss) from operations before income taxes increased by $10.5 million to an income of $5.1 million in the current year-to-date from a loss of ($5.4 million) in the prior year year-to-date. The increase was a result of increased sales volumes in both North America and MENA due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line subsequent to the third quarter of 2020.

The Company's worldwide ETR's were 40.0% and 6.2% in the current year-to-date and the prior year year-to-date, respectively. The change in the ETR from the prior year to the current year was largely due to changes in the mix of income and loss in various jurisdictions and the absence of recognizing tax benefits on losses in the United States due to a full valuation allowance applied against its deferred tax assets.

The resulting net income of $3.1 million in the current year-to-date was an improvement of approximately $8.2 million over the net loss of ($5.1 million) in the prior year year-to-date. The increase was a result of increased sales volumes in both North America and the MENA due to recovery from the effects of the COVID-19 pandemic. In addition, the Company's U.A.E. business benefitted from the introduction of a new product line.

Percentages set forth above in this press release have been rounded to the nearest percentage point and may not exactly correspond to the comparative data presented.

Perma-Pipe International Holdings, Inc.

Perma-Pipe International Holdings, Inc. (the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at thirteen locations in six countries.

Forward-Looking Statements

Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (ix) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (x) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company’s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Company’s ability to attract and retain senior management and key personnel; (xviii) the Company’s ability to achieve the expected benefits of its growth initiatives; (xix) the Company’s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s over-time revenue recognition; (xxii) the Company’s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com.)

The Company's Form 10-Q for the quarter ended October 31, 2021 will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company's website.

David Mansfield, President and CEO
Perma-Pipe Investor Relations
(847) 929-1200
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Three utilities tap Swell to develop new distributed residential solar + storage use cases to meet energy needs

LOS ANGELES--(BUSINESS WIRE)--Renewable energy and grid solutions provider Swell Energy Inc. (Swell) today announced that it is working with three California utilities on pilot projects to expand grid services use cases for residential solar + storage resources to meet both local and regional energy needs.

Pacific Gas and Electric Company (PG&E) and San Diego Gas & Electric (SDG&E) are working with Swell to expand residential participation in their respective Capacity Bidding Programs. Through these programs, homeowners with solar + storage systems can receive compensation for supporting overall grid reliability while maintaining reserves in their battery for emergency use. These efforts support the California Public Utility Commission's goal of reducing load during California Independent System Operator emergency power events.

For PG&E, Swell will enroll existing and new residential solar + storage customers into the Capacity Bidding Program and collectively manage the systems to provide needed capacity during times of high demand or high wholesale market prices. For SDG&E, Swell is expanding residential participation in its program, which was previously only offered to commercial and industrial customers. In addition, Swell is helping SDG&E evaluate different scenarios in which residential solar + storage systems could be used to improve the overall reliability of the grid in the context of SDG&E’s specific goals and constraints.

The programs have resonated with customers who value the opportunity to give back with their home solar + storage systems. “I participated because for 30 years I have believed that distributed solar could provide a major solution to the climate crisis brought on by greenhouse gas emissions,” said Steven Marks, a Swell customer. “Swell’s initiative is a step in the right direction. My experience with the program has been nothing but positive. I noticed no difference in service or solar system performance and felt good about being able to participate.”

Swell is also working on innovative virtual power plant applications with Southern California Edison (SCE). In addition to the two existing virtual power plants Swell has with SCE, the smart grid solutions provider is facilitating expanded applications for residential solar + storage assets to balance energy on the grid across a number of different scenarios and use cases. The effort with SCE could expand the use of aggregated residential solar + storage resources into virtual power plants to maximize environmental benefits and improve power reliability for SCE customers.

All three programs align with California Public Utility Commission goals to improve power reliability in the face of more frequent extreme weather events. By expanding residential participation in utility capacity programs and helping utilities maximize the benefits distributed solar + storage systems can provide, Swell is helping meet the state’s projected energy needs next summer and beyond. With the right grid services and participation levels, these programs help utilities and the California Public Utilities Commission meet California’s mandates for renewable energy while improving power reliability and minimizing costs to ratepayers associated with building additional standby ‘peaker plants’ that are infrequently used.

Enrollment for the PG&E and SDG&E programs has closed for 2021. Customers interested in enrolling in the SCE program can visit https://swellenergy.com/vpp2/ and companies interested in partnering with Swell can visit https://swellenergy.com/partners. All three utilities continue to work with Swell to improve the design of customer-centered energy programs moving forward.

About Swell Energy Inc.

Swell Energy is creating a greater grid for the greater good. The energy management and smart grid solutions provider is accelerating the mass adoption of distributed clean energy technologies by making it easy for consumers to take control of their energy use, achieve energy security, and save costs. Swell Energy provides homeowners and businesses with financing and educational resources, while partnering with trusted local solar and solar+storage companies for seamless, high-quality product installations. By creating a critical mass of dynamic and responsive clean energy resources within utility service areas across the United States, Swell Energy is also delivering resilient virtual power plant networks and grid-balancing services to utilities, which are fundamental to our future, carbon-free, distributed renewable energy system. Learn more at www.swellenergy.com.

Press
Camille Cater
Antenna Group for Swell Energy
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551-225-1478

Marine defense provider expands portfolio with acquisition of military and commercial davit manufacturer

BELOIT, Wis.--(BUSINESS WIRE)--#FMD--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (“Arcline”), has acquired Welin Lambie Ltd. (Welin Lambie), a U.K.-based leading designer and manufacturer of davits used specifically for the launch and recovery of all types of craft from ships or shore-based installations. The acquisition further expands FMD’s capabilities and service solutions for shipyard, defense, and commercial marine customers, including the U.S. Navy, the U.S. Coast Guard, and the Canadian Coast Guard. Additionally, FMD’s acquisition of Welin Lambie enhances its product and service offerings for future uncrewed ship programs, as davits that launch and recover crafts and mission packages are expected to be increasingly critical in uncrewed environments.

“As naval forces around the world upgrade existing vessels and expand their fleets, the demand for local, high-quality aftermarket services is greater than ever before,” said George Whittier, CEO of FMD. “Our acquisition of Welin Lambie brings Fairbanks Morse Defense one step closer to becoming a full-service provider for our core marine customers so we can better support their mission-critical operations. Welin Lambie’s products and services easily align with our service solutions, and we’re excited to have them join the FMD brand.”

Over many decades, Welin Lambie has established strong relationships with the U.S. Navy and U.S. Coast Guard. Its products are installed on a wide variety of vessels stationed worldwide, including U.S. Navy amphibious vessels, LCS vessels, CVN aircraft carriers, USCG cutters, and frigates for the Royal Saudi Navy currently under construction at Marinette Marine.

Since 1901, Welin Lambie has been rooted in maritime history, having designed and built integrated davit systems for several world-renowned ships, including the 1912 original “unsinkable” White Star Liner Titanic and the 1997 blockbuster film Titanic. Operating from its facility in Brierley Hill, West Midlands, U.K., Welin Lambie serves customers in the U.K., North America, and worldwide.

“Welin Lambie has established strong marine defense customer relationships because of our ability to seamlessly adapt to changing regulations and requirements,” Welin Lambie Managing Director Norman Rose said. “These qualities will be an asset to Fairbanks Morse Defense customers as our products and services are integrated into their offerings. We’re looking forward to expanding our presence under the Fairbanks Morse Defense brand.”

In recent years, FMD has expanded its capabilities, inventory, and geographic presence with several key acquisitions to better serve the defense industry. So far this year, FMD acquired Hunt Valve, a specialty naval valve manufacturer, and Ward Leonard, a motor and control solutions provider. FMD also acquired diesel engine repair and rebuilding service provider BRECO International in November 2020.

About Fairbanks Morse Defense

Fairbanks Morse Defense (FMD) is a leading provider of high value equipment for naval defense customers. For more than 100 years, FMD has been a principal supplier of reliable power systems, parts, and aftermarket services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and the Canadian Coast Guard. Through its six strategically located service centers and a robust aftermarket team, FMD is able to provide round-the-clock field service and parts support. Additionally, its suite of full lifecycle solutions extends asset life and enables it to run more efficiently. With a growing portfolio of companies under the FMD brand, the company continues to integrate these mission-critical products and innovative service solutions to power marine defense. FMD, a portfolio company of Arcline Investment Management, is based in Beloit, Wisconsin. Learn more about FMD at www.FairbanksMorseDefense.com.

About Welin Lambie Industries

Established in 1901 as Welin Davit and Engineering Company, Welin Lambie operates worldwide on Navy and Coast Guard platforms, offshore supply vessels, oil rigs, and ferries. NASA uses Welin Lambie Davits to support its SRB (Solid Rocket Booster) recovery systems. Welin Lambie offers a complete range of standard and bespoke davits that meet the requirements of Safety of Life at Sea (SOLAS) and recognized certifying authorities, as well as meeting the demands of military customers including shock, vibe, and EMI requirements.

Fairbanks Morse Media Contact:
Mercom Communications
Michelle Hargis
Tel: 512-215-4452
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DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities in Nanocatalysts, Nanomaterials for Energy Storage and Healthcare Applications" report has been added to ResearchAndMarkets.com's offering.

This issue of the Nanotechnology Opportunity Engine profiles innovations related to nanocatalysts for energy storage and energy generation. The issue also highlights innovations focused on nanoemulsions and nanomaterials for healthcare, wearables, and other applications.

The Nanotechnology Opportunity Engine provides intelligence on technologies, products, processes, applications, and strategic insights on nanotechnology-related innovations and their impact across various industries. Technology focus areas include nanocatalysts, antimicrobials, nanocellulose, and nanoplatelets.

The Chemicals and Advanced Materials cluster tracks research and innovation trends and developments across specialty chemicals, plastics, polymers, chemicals, bio-chemicals, metals, coatings, thinfilms, surface treatments, composites, alloys, oil and gas, fuel additives, fibers, and several other related technologies and its impact and application across industries.

Growth Opportunities in Nanocatalysts, Nanomaterials for Energy Storage and Healthcare Applications

• Nano Imprintable Coatings for Electronics
• Pixelligent Offers HRI Formulations to Improve Efficiency of Optoelectronics Devices
• Pixelligent Technologies, US- Investor Dashboard
• Nanoemulsion for Food Products
• The Nanoemulsion Can Promote Extended Shelf Life while Keeping the Nutritional Value Intact
• Graphene-Based Dispersion Using Nanoplatelets
• The Nanoplatelet Can Help Develop Achieve High Thermal Barrier and Anti-Corrosion Performance in Coatings

Company Coverage:

• IBM Thomas J. Watson Research Center, US
• Merck KGaa, Germany
• Agrofresh Solutions, US- Investor Dashboard
• Applied Graphene Materials, US- Investor Dashboard
• Rigaku Corporation, Japan
• Yonsei University, South Korea
• The University of Dublin, Ireland
• Chinese Academy of Sciences, PRC
• Gigabyte Technology Co. Ltd. Taiwan
• Osaka University, Japan
• University of Illinois at Urbana-Champaign, US
• Stony Brook University, US
• Chinese Academy of Sciences, China
• Canakkale Onsekiz Mart University, Turkey

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

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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ROCKVILLE, Md.--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today announced financial results for its third quarter ended October 31, 2021. For additional information, please read the Company’s Quarterly Report on Form 10-Q, which the Company intends to file today with the U.S. Securities and Exchange Commission (the “SEC”). The Quarterly Report can be retrieved from the SEC’s website at www.sec.gov or from the Company’s website at www.arganinc.com.

Summary Information (dollars in thousands, except per share data)

“During the quarter, we were delighted to announce our second major contract signing and project start this year,” Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, said. “In May, Gemma Power Systems started a contract to build one of the largest solar power plants in Pennsylvania. In October, Atlantic Projects Company started a contract to construct a 2 x 330 MW natural gas-fired power plant in Carrickfergus, Belfast, Northern Ireland. These awards reflect our efforts to expand our business development activities to target our core gas-fired power plant business as well as the complementary renewable power sector business. We are disappointed that certain other awarded projects have taken longer to start than initially anticipated. However, we are pleased with the current execution on all of our major projects despite the well-publicized global supply chain disruptions and current inflationary challenges. As a result, we are happy to announce earnings of $12.4 million, or $0.78 in earnings per share for the quarter ended October 31, 2021, which is our fifth consecutive quarter of earnings per share equal to or in excess of $0.60.”

Consolidated revenues for the quarter ended October 31, 2021 were $124.5 million, which represented a decrease of $2.9 million, or 2.3%, from consolidated revenues of $127.3 million reported for the three months ended October 31, 2020. The primary drivers of revenues for the three months ended October 31, 2021 related to the construction of the Guernsey Power Station, which has passed peak construction levels, the performance of construction activities on the new Maple Hill solar energy project and new Atlantic Projects Company projects, and increased revenues of $7.3 million in aggregate at our other business segments.

Consolidated gross profit for the three-month period ended October 31, 2021 was $26.1 million, which represented a gross profit percentage of 21.0% of corresponding consolidated revenues. The gross profit for the period reflected the profit contributions of the construction activities related to the major projects of the power industry services segment, the recovery of the industrial services segment from its low level of activity last year during the early months of the COVID-19 pandemic and the revenues recorded for the current quarter related to the settlement of a legal matter.

Selling, general and administrative expenses for the three months ended October 31, 2021 and 2020 were $11.6 million and $9.4 million, respectively, primarily reflecting increased costs for the current quarter associated with business development activities, incentive compensation and other personnel costs.

Due primarily to the consolidated pre-tax book income reported for the three-month period ended October 31, 2021 in the amount of $15.7 million, we reported income tax expense in the amount of $3.3 million, which represents an effective income tax rate of 20.9% for the period. For the three-month period ended October 31, 2020, we recorded income tax expense in the amount of $1.7 million which represented an effective income tax rate of approximately 15.0% for the three-month period.

For the three months ended October 31, 2021, our improved overall operating performance resulted in net income attributable to our stockholders in the amount of $12.4 million, or $0.78 per diluted share, compared to $9.5 million, or $0.60 per diluted share, in the prior year quarter.

For the nine months ended October 31, 2021, our improved overall operating performance resulted in net income attributable to our stockholders in the amount of $36.0 million, or $2.25 per diluted share, compared to $14.3 million, or $0.91 per diluted share, in the prior year period, a 153% increase.

As of October 31, 2021, cash, cash equivalents and short-term investments totaled $482 million and net liquidity was $301 million; furthermore, the Company had no debt. The Company’s consolidated amount of RUPO was approximately $0.5 billion as of October 31, 2021.

About Argan, Inc.

Argan’s primary business is providing a full range of services to the power industry, including the renewable energy sector. Argan’s service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, operations management, maintenance, project development and consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated fabrication, construction and industrial plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings. The Company’s future financial performance is subject to risks and uncertainties including but not limited to the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities, the Company’s ability to successfully complete the projects that it obtains and the resurgence of the COVID-19 pandemic due to the spread of various variants. The Company has several signed EPC contracts that have not started and may not start as forecasted due to market and other circumstances beyond its control. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the risk factors highlighted above and described regularly in the Company’s SEC filings.

Company Contact:
Rainer Bosselmann
301.315.0027

Investor Relations Contact:
David Watson
301.315.0027