AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (NASDAQ: REGI) President & CEO Cynthia ‘CJ’ Warner issued the following statement regarding the Environmental Protection Agency’s (EPA) release of the proposed Renewable Volume Obligations (RVOs).

“We are pleased to see that the Agency has proposed growth for 2022 in the biomass-based diesel and total advanced categories, as these support clean, renewable fuels that are enabling real decarbonization, right now. Demand for these products is growing as customers seek ready-now, low carbon solutions.”

“In fact, with the anticipated increased capacity of renewable diesel coming online in 2022 to meet this demand, and the ample availability of feedstock to support this growth, we believe that the proposed advanced volumes are conservative and should be increased further. We look forward to continuing this important discussion with Administration officials.”

“We are encouraged that the EPA is standing behind its sound analysis in proposing to deny all 65 pending small refiner exemption requests. Bio-based diesel delivers the powerful emissions reductions this country needs, and refiners themselves are participating in production of bio-based diesel in growing numbers. Consumers are demanding lower carbon fuels today and our industry stands ready for growth. Bio-based diesel has many benefits beyond carbon reduction. The industry is creating green jobs, contributing to cleaner air, supporting sustainable agriculture and growing rural economies.”

###

About Renewable Energy Group

Renewable Energy Group, Inc. is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2020, Renewable Energy Group produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the anticipated increased capacity of renewable diesel, the availability of feedstock, the industry’s production capacity and RIN generating capability, including the associated potential GHG reductions, EPA’s proposal to deny small refiner exemptions, and consumer demand for lower carbon fuels and the industry’s ability to grow to meet that demand and create green jobs, contribute to cleaner air, support sustainable agriculture and grow rural economies. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, modifications to EPA’s proposal, customer’s desire for clean fuel options, and other risks and uncertainties described in REG’s annual report on Form 10-K for the year ended December 31, 2020 and subsequently filed Form 10-Q and other periodic filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.

Katie Stanley
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TORONTO--(BUSINESS WIRE)--$DYA #GHG--dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that it has been notified of the recent progress update in dynaCERT’s application under Verra’s Verified Carbon Program (the “VCS Program”).

VVB Audit:
Under the VCS Program, auditors known as validation and verification bodies (VVBs) are tasked with assessing projects against the VCS Program rules and the requirements of the applied methodology.

Following the recently announced publication of dynaCERT’s proposed methodology in respect of its Carbon Credit certification (See Press Release dated October 18, 2021), Verra has indicated to dynaCERT that the next step will be its VVB audit. Verra is submitting a request for proposals to their list of auditors this week.

Independent Auditing:
All VCS projects are subject to desk and field audits by both qualified independent third parties and Verra staff to ensure that standards are met and methodologies are properly applied.

VVBs are qualified, independent third parties which are approved by VCS to perform validation and verification. This independent assessment process is critical to ensuring the integrity of the projects registered with the VCS Program.

Currently, more than twenty VVBs located across five continents are approved under the VCS Program. VVBs are accredited to work in specific sectoral scopes, meaning their expertise is geared directly toward the types of projects they audit.

VVBs are eligible to provide validation and verification services under the VCS Program if they have signed the required agreement with VCS and are accredited by a VCS-recognized accreditation body.

The VCS Program:
The VCS Program is the world’s most widely used voluntary GHG program. Nearly 1,700 certified VCS projects have collectively reduced or removed more than 630 million tonnes of carbon and other GHG emissions from the atmosphere.

Jean-Pierre Colin, Executive Vice President & Director of dynaCERT, stated, “In Canada and worldwide, Carbon Credits and Carbon Offsets play a paramount role in advancing a cleaner planet. dynaCERT’s commitment to working with Verra to achieve global Greenhouse Gas reductions aligns with the stated objectives of the United Nations which were approved by over 160 Nations globally in Article 6 of the Paris Agreement. Our GHG reduction initiatives also support dynaCERT’s target markets such as mining, oil and gas, transportation, utilities, municipalities, sovereign governments, construction, marine, rail, power generation, building, farming, heavy equipment industries and many others.”

About Verra:
Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges by developing and managing standards that help the private sector, countries, and civil society achieve ambitious sustainable development and climate action goals. Verra’s global standards and frameworks serve as linchpins for channeling finance towards high-impact activities that tackle some of the most pressing environmental issues of our day. Website: www.verra.org

About dynaCERT Inc.

dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. Website: www.dynaCERT.com.

READER ADVISORY

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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

On Behalf of the Board

Murray James Payne, CEO

Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com

Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com

AUSTIN, Texas--(BUSINESS WIRE)--USA Compression Partners, LP (NYSE: USAC) (“USA Compression” or the “Partnership”) announced today that it had entered into the Seventh Amended and Restated Credit Agreement effective today, December 8, 2021, extending the maturity of its senior secured credit facility until December 2026. The credit facility is led by J.P. Morgan and includes 17 additional financial institutions with a combined commitment of $1.6 billion.

Eric Long, President and CEO of USA Compression, commented, “This is the latest extension of our credit facility, which dates back over 15 years, with many of the same banks and financial institutions having participated continually at increasing levels of commitments since the inception. The Partnership decided to take advantage of a strong lending environment and opportunistically reset the tenor for another 5 years prior to the existing credit facility going current early next year. The new credit facility provides the Partnership with additional flexibility at lower interest margin spreads – consistent with the overall compression financing market and other industry peers. Given our current drawn balance of approximately $514 million, this new credit facility provides the Partnership ample capacity with which to grow and manage the business in the coming years to the benefit of all our stakeholders. We are very grateful for the long-term support of USA Compression by the entire bank group – and their continued votes of confidence in USA Compression’s stable, large horsepower, infrastructure focused business model.”

ABOUT USA COMPRESSION PARTNERS, LP

USA Compression Partners, LP is a growth-oriented Delaware limited partnership that is one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. USA Compression partners with a broad customer base composed of producers, processors, gatherers and transporters of natural gas and crude oil. USA Compression focuses on providing natural gas compression services to infrastructure applications primarily in high-volume gathering systems, processing facilities and transportation applications. More information is available at usacompression.com.

FORWARD-LOOKING STATEMENTS

Statements in this press release may be forward-looking statements as defined under federal law. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of USA Compression, and a variety of risks that could cause results to differ materially from those expected by management of USA Compression. USA Compression undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

USA Compression Partners, LP
Matthew Liuzzi, CFO
(512) 369-1624
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RENFREW, Scotland--(BUSINESS WIRE)--Howden and Chart Industries (NYSE: GTLS) have signed a Memorandum of Understanding (MOU) as they move forward in collaboration for advanced hydrogen solutions, incorporating Howden gas compression systems into Chart hydrogen offerings.

Howden is a leading global provider of mission critical air and gas handling products, technologies and services across a diverse range of industries, while Chart is a leading global manufacturer of highly engineered equipment, servicing multiple applications in the clean energy and industrial gas markets.

This relationship will result in more cost-effective standardised solutions within an integrated and optimised service offering. This will provide customers with tailored global aftermarket support and will leverage both companies’ manufacturing capabilities to be close to the regional hydrogen projects that are anticipated to move quickly to commercialization this decade.

Ross Shuster, CEO of Howden comments: “We are confident that this collaboration with Chart will bring significant benefits to customers, while also more broadly benefitting the rapidly developing renewable hydrogen industry. We view this collaboration as one means to bring cost-effective, standardized solutions to the market in order to help reduce the time required to develop new projects and to lower costs associated with renewable hydrogen. This cooperation with Chart is a natural one given our common focus on customers, technology and innovation, and our passion for enabling the global clean energy transition.”

Commenting on the partnership, Jill Evanko, CEO of Chart Industries stated, “We are pleased to partner with Howden, a market leader in numerous areas, including gas compression, and a partner that we have worked with for many years. The combination of our offerings are highly complementary which reduces lead-time and unnecessary costs for our customers as hydrogen projects require speed to market and cost competitiveness.”

Devan LaBrash
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+44 (0) 7741 614756

SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (“Southwestern Energy”) (NYSE: SWN) today announced the pricing of its public offering (the “Offering”) of $1,150,000,000 aggregate principal amount of 4.75% senior notes due 2032 (the “Notes”). The Notes will be sold to the public at a price of 100% of their face value. The expected closing date for the Offering is December 22, 2021, subject to the satisfaction of customary closing conditions.

Southwestern Energy intends to use the net proceeds from the Offering, along with net proceeds associated with its proposed term loan credit agreement, borrowings under its revolving credit agreement and cash on hand to fund the cash portion of the acquisition of GEP Haynesville, LLC (“GEPH”), to fund its previously announced tender offers of certain series of its outstanding senior notes and to pay a portion of the outstanding balance of its revolving credit agreement.

J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as representatives of the underwriters and joint book-running managers for the Offering. The Offering is being made under an effective automatic shelf registration statement on Form S-3, as amended (Registration No. 333-238633), filed by Southwestern Energy with the Securities and Exchange Commission (“SEC”) and only by means of a prospectus supplement and accompanying base prospectus. A preliminary prospectus supplement has been filed with the SEC to which this communication relates. Prospective investors should read the preliminary prospectus supplement and the accompanying base prospectus included in the registration statement and other documents Southwestern Energy has filed with the SEC for more complete information about Southwestern Energy and the Offering. These documents are available at no charge by visiting EDGAR on the SEC website at http://www.sec.gov.

Alternatively, a copy of the base prospectus and the preliminary prospectus supplement may be obtained, when available, from:

This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities or any securities subject to the tender offers and consent solicitation, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This news release shall not constitute a notice of redemption for any outstanding senior notes or any securities.

About Southwestern Energy

Southwestern Energy Company is a leading U.S. producer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution.

Forward-Looking Statements

Certain statements and information in this news release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended. Forward-looking statements relate to future events, including, but not limited to the proposed closing of the Offering and the use of proceeds of the Offering, including the tender offers and consent solicitation and repaying a portion of the borrowings under Southwestern Energy’s credit agreement. The words “believe,” “expect,” “anticipate,” “plan,” “predict,” “intend,” “seek,” “foresee,” “should,” “would,” “could,” “attempt,” “appears,” “forecast,” “outlook,” “estimate,” “project,” “potential,” “may,” “will,” “likely,” “guidance,” “goal,” “model,” “target,” “budget” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Statements may be forward looking even in the absence of these particular words. Where, in any forward-looking statement, Southwestern Energy expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. We do not intend to publicly update or revise any forward-looking statements as a result of new information, future events, changes in circumstances, or otherwise. These cautionary statements qualify all forward-looking statements attributable to us, or persons acting on our behalf. Management cautions you that the forward-looking statements contained herein are not guarantees of future performance, and we cannot assure you that such statements will be realized or that the events and circumstances they describe will occur. Factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements herein include, but are not limited to: closing the GEPH Merger, the timing and extent of changes in market conditions and prices for natural gas, oil and natural gas liquids (“NGLs”), including regional basis differentials and the impact of reduced demand for our production and products in which our production is a component due to governmental and societal actions taken in response to COVID-19 or other public health crises and any related company or governmental policies and actions to protect the health and safety of individuals or governmental policies or actions to maintain the functioning of national or global economies and markets; our ability to fund our planned capital investments; a change in our credit rating, an increase in interest rates and any adverse impacts from the discontinuation of the London Interbank Offered Rate; the extent to which lower commodity prices impact our ability to service or refinance our existing debt; the impact of volatility in the financial markets or other global economic factors; difficulties in appropriately allocating capital and resources among our strategic opportunities; the timing and extent of our success in discovering, developing, producing and estimating reserves; our ability to maintain leases that may expire if production is not established or profitably maintained; our ability to transport our production to the most favorable markets or at all; the impact of government regulation, including changes in law, the ability to obtain and maintain permits, any increase in severance or similar taxes, and legislation or regulation relating to hydraulic fracturing, climate and over-the-counter derivatives; the impact of the adverse outcome of any material litigation against us or judicial decisions that affect us or our industry generally; the effects of weather; increased competition; the financial impact of accounting regulations and critical accounting policies; the comparative cost of alternative fuels; credit risk relating to the risk of loss as a result of non-performance by our counterparties; and any other factors listed in the reports we have filed and may file with the SEC that are incorporated by reference herein. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

Investor Contact
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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DUBLIN--(BUSINESS WIRE)--The "Conventional Oil Refineries to Renewable Fuel Production Facilities - Renewable Capacity Additions Gain Momentum" report has been added to ResearchAndMarkets.com's offering.

Traditional oil refineries have been slow towards processing and producing renewable fuel, despite its production starting nearly a decade ago. Considering several benefits that renewable fuel offers to consuming companies and countries, this scenario might change soon. Several oil refining companies have initiated the conversion of their decommissioned or, soon to be decommissioned refineries to produce renewable fuel.

Although some refiners are currently co-processing renewable fuel along with petroleum fuels in their refineries, others are also planning to join the trend. With demand for cleaner transportation fuel rising globally, oil refiners turning away from petroleum fuel towards renewable fuel with less carbon footprint might prove to be a lucrative option in the long-term.

Report Scope:

• Overview of renewable fuels - introduction and generations of biofuels, introduction and benefits of renewable fuels
• Renewable fuel production from oil refineries of key countries to 2025
• Key details of major refineries that are planning to produce / producing renewable fuels
• Renewable fuel production plans of major companies
• Renewable fuel regulations in major markets and outlook

Key Report Benefits:

• Understand the significance of renewable fuels and the difference between renewable fuels and biofuels
• Facilitate decision making based on regulations governing renewable fuels in key markets
• Keep abreast of key global fully converted or co-processing refinery projects and their respective production capacities of renewable fuels
• Assess your competitor's plans with regards to renewable fuels production

   

Key Topics Covered:

• Overview of Renewable Fuels
• Overview of Biofuels
• Generations of Biofuels
• Renewable Fuels Overview
• Renewable Fuel (Renewable Diesel) vs Advanced Biofuel (Biodiesel) - Production Viewpoint
• Benefits of renewable fuel
• Production Outlook

For more information about this report visit https://www.researchandmarkets.com/r/33q8mr

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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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today announced that its Board of Directors has appointed Mr. Anton Dibowitz as President and Chief Executive Officer, effective immediately. Mr. Dibowitz, who has been serving as interim President and Chief Executive Officer of Valaris since September 3, 2021, is also a member of the Company’s Board of Directors.

“Anton has done a tremendous job leading Valaris over the past three months and we are delighted for him to continue building upon this positive momentum in a permanent capacity,” said Elizabeth Leykum, Chair of the Board of Valaris. “After a thorough and deliberative search process, the Board unanimously agreed that Anton’s extensive knowledge of Valaris and the offshore drilling industry make him exceptionally qualified to lead this company forward and deliver value for shareholders.”

“It has been an honor to lead such a talented team at Valaris these past three months, and I look forward to the opportunity to continue our work together,” commented Mr. Dibowitz. “I am encouraged by the continued steady increase in activity we have seen across our business, evidenced by the addition of more than $2.1 billion of backlog year to date. Valaris has proven that we are an organization with the scale, geographic diversity and best-in-class fleet to execute on our strategic priorities and deliver exceptional service to our customers around the world. Valaris has a bright future and I look forward to working closely with the Board and executive team to further solidify our position as the offshore driller of choice.”

About Mr. Anton Dibowitz

Mr. Dibowitz is a highly experienced executive with more than 20 years of drilling industry expertise. He joined the Valaris Board of Directors in July 2021 and was named interim President and Chief Executive Officer effective September 3, 2021. Prior to joining the Board, Mr. Dibowitz served as an advisor of Seadrill Ltd. from November 2020 until March 2021, and as Seadrill’s Chief Executive Officer from July 2017 until October 2020. Prior to that, he served as Executive Vice President of Seadrill Management from June 2016, and as Chief Commercial Officer from January 2013 to June 2016. Prior to joining Seadrill, Mr. Dibowitz held various positions within tax, process reengineering and marketing at Transocean Ltd. and Ernst & Young LLP. He is a Certified Public Accountant and a graduate of the University of Texas at Austin where he received a Bachelor's degree in Business Administration, and Master's degrees in Professional Accounting (MPA) and Business Administration (MBA).

About Valaris Limited

Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.

Cautionary Statements

Statements contained in this press release that are not historical facts are 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. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10-Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.

Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619

Moves strengthen foundation for advancing growth and sustainability initiatives across company

WALL, N.J.--(BUSINESS WIRE)--New Jersey Resources (NYSE: NJR) today announced a series of executive and senior leadership promotions that position the company to execute on its growth strategy, sustainability goals and investment priorities.

Unless otherwise noted, changes will be effective January 1, 2022 and include:

• Patrick Migliaccio was named Senior Vice President and Chief Operating Officer of New Jersey Natural Gas (NJNG).
• Roberto Bel was promoted to Senior Vice President and Chief Financial Officer of NJR.
• Sean Annitto will succeed Vice President Timothy Shea, who is retiring from NJR Energy Services (NJRES) in February 2022, and lead NJR’s unregulated wholesale natural gas marketing business.
• Robert Pohlman was promoted to Vice President of Strategy, Communications, Government Relations and Policy of NJR.
• Daniel Sergott was promoted to Treasurer of NJR.

“The elevation of these proven, capable leaders to senior roles in our organization puts New Jersey Resources in an even stronger position to execute our strategy, deliver safe, reliable service to our customers and advance our clean energy and climate goals,” said Steve Westhoven, President and CEO of New Jersey Resources. “Our team will continue to move NJR forward as a leader in sustainability and seize exciting new opportunities to invest and grow in the clean energy future.”

More information on these changes and biographical information can be found below:

Senior Vice President and Chief Operating Officer Patrick Migliaccio will oversee NJNG, NJR’s largest subsidiary, advance the utility’s decarbonization efforts and direct its infrastructure investments and customer growth goals, while managing operation of its more than 770 employees and 7,600 miles of distribution and transmission main.

Mr. Migliaccio joined NJR in 2009 as Controller of the company’s unregulated operations. He advanced through various positions in the finance function before being promoted to Senior Vice President and Chief Financial Officer in 2016.

As CFO, he led the finance and accounting team through a period of significant growth at NJR, including over $1.5 billion in infrastructure investments at NJNG, increased capital expenditures and revenue growth at NJR Clean Energy Ventures, as well as the acquisitions of Leaf River Energy Center and the Adelphia Gateway pipeline, which now form the largest pieces of NJR’s Storage and Transportation business segment.

Prior to joining NJR, Mr. Migliaccio worked for Public Service Enterprise Group and NRG Energy, as well as other energy companies in New Jersey.

Senior Vice President and Chief Financial Officer Roberto Bel will be responsible for the management of NJR’s financial functions, including financial planning and analysis, accounting, tax, treasury, risk management and investor relations.

Mr. Bel joined NJR in 2019 as Vice President-Treasurer and Investor Relations and has more than 20 years of experience in finance. He has led the Treasury function through a time of elevated funding requirements, driven by NJR’s highest capital investment levels ever. He also led NJR’s first public equity offering in more than 30 years, and guided Investor Relations through the development and rollout of a long-term strategic growth plan for NJR.

Before joining NJR, Mr. Bel was Assistant Treasurer for Thomson Reuters and Chief Financial Officer for Thomson Reuters’ Latin American operations. Prior to that he was Vice President and Chief Financial Officer for General Motors Colmotores and General Motors Venezolana and held various roles of increasing responsibility at the General Motors Treasurer’s office in New York.

Vice President-Energy Services Sean Annitto will succeed Tim Shea in leading NJRES, the company’s unregulated wholesale natural gas marketing business. Mr. Shea is retiring after 23 years with the company, effective February 2022.

Mr. Annitto joined NJRES in 1996 and has served as Vice President-Energy Services since 2019. He has more than 20 years of experience in energy trading, commodity hedging and developing strategic growth opportunities, and was instrumental in developing, implementing and managing NJRES’ successful long-option strategy. With his proven expertise in the dynamic, U.S. energy market, he continues to effectively guide the business’ portfolio valuation, structure and optimization.

Vice President-Strategy, Communications, Government Relations and Policy Robert Pohlman will drive business and growth opportunities across NJR, including emerging clean energy markets, while overseeing public policy, government relations and communications.

Mr. Pohlman joined NJR in 2011 and served as Director of Business Development for NJR Clean Energy Ventures (CEV) before being named Chief of Staff to the President and CEO in 2019. He was promoted to Managing Director-Innovation and Strategic Initiatives in 2020.

A proven dealmaker in the sustainable investment space, Mr. Pohlman helped CEV invest over $1 billion dollars in renewable infrastructure over the last 10 years. As Chief of Staff and Managing Director, he has also played a pivotal role in corporate strategy, external communications, policy and investor messaging.

Prior to joining NJR, he worked as vice president at Citadel, assistant vice president Credit Suisse Energy LLC and Barclays Capital, Inc.

Treasurer Daniel Sergott will be responsible for NJR’s treasury functions. Mr. Sergott joined NJR in 2006 and has held a variety of leadership roles in both financial planning and analysis and corporate development functions, including Director-Financial Planning and Analysis and Director-Corporate Development Finance. As a senior leader on the finance and accounting team, Dan was integral to NJR’s financing, equity and M&A accomplishments of the past five years.

Before joining NJR, Mr. Sergott worked as an independent financial consultant, as well as corporate finance manager and finance director at CDI Corporation and a senior financial analyst at Salomon Smith Barney and Goldman Sachs.

“These leadership changes strengthen our organization. I want to congratulate Pat, Roberto, Sean, Bobby and Dan on their promotions, and to thank Tim for his many years of contributions that have helped make NJR Energy Services one of the top natural gas marketers in North America,” said Westhoven.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

• New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,600 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties in New Jersey.
• NJR Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of more than 365 megawatts, providing residential and commercial customers with low-carbon energy solutions.
• NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
• Storage & Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River Energy Center and the Adelphia Gateway Pipeline Project, as well as our 50% equity ownership in the Steckman Ridge natural gas storage facility.
• NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its nearly 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve^® and initiatives such as The SAVEGREEN Project^® and The Sunlight Advantage^®.

Follow us on Twitter @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.

Media Contact:
Michael Kinney
732-938-1031
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Investor Contact:
Dennis Puma
732-938-1229
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NEWBURY PARK, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI), announces that its indirect wholly-owned subsidiary BNK Petroleum (US) Inc. (“BNK US”) has signed a drilling contract to commence drilling the Barnes 7-3H well.

The location for the Barnes 7-3H is currently being built and will be completed within a week. All services are being lined up for an expected spud date at the beginning of January.

Wolf Regener, President, and CEO commented. “We are very pleased that we have begun activities to drill our next well. The Barnes 7-3H well location is in the heart of our field, where our best performing wells are located. By incorporating all the knowledge learned from our previous wells we are hoping that this well meets or even exceeds our type-curve expectations which would significantly increase the Company’s cash flow at current prices and add incremental value to the shareholders.”

About Kolibri Global Energy Inc.

Kolibri Global Energy Inc. is an international energy company focused on finding and exploiting energy projects in oil, gas, and clean and sustainable energy. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQB under the stock symbol KGEIF.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws and “forward-looking statements” within the meaning of United States securities laws, including statements regarding the planned drilling and the potential results thereof. Forward-looking information and statements are based on plans and estimates of management and interpretations of data by the Company's technical team at the date the data is provided and is subject to several factors and assumptions of management, including that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, including flooding and extended interruptions due to inclement or hazardous weather conditions, equipment failures, permitting delays or labor or contract disputes are encountered, that the necessary labor and equipment will be obtained, that the development plans of the Company and its co-venturers will not change, that the offset operator’s operations will proceed as expected by management, that the demand for oil and gas will be sustained, that the Company will continue to be able to access sufficient capital through financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole. Forward-looking information and statements are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates, and actual results to vary materially from those projected in such forward-looking information and statements. Factors that could cause the forward-looking information and statements in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information and statements are based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that equipment failures, permitting delays labor or contract disputes or shortages of equipment or labor are encountered, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and extended interruptions due to inclement or hazardous weather conditions), the risk of commodity price and foreign exchange rate fluctuations, that the offset operator’s operations have unexpected adverse effects on the Company’s operations, that completion techniques require further optimization, that production rates do not match the Company’s assumptions, that very low or no production rates are achieved, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at www.sedar.com, any of which could result in delays, cessation in planned work or loss of one or more concessions and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

For further information, contact:
Wolf E. Regener +1 (805) 484-3613
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Website: www.kolibrienergy.com

SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (“Southwestern Energy”) (NYSE: SWN) today announced that it is commencing, subject to market conditions, a registered underwritten public offering (the “Offering”) of $1,150,000,000 aggregate principal amount of senior notes due 2032 (the “Notes”).

Southwestern Energy intends to use the net proceeds from the Offering, along with net proceeds associated with its proposed term loan credit agreement, borrowings under its revolving credit agreement and cash on hand to fund the cash portion of the acquisition of GEP Haynesville, LLC (“GEPH”), to fund its previously announced tender offers of certain series of its outstanding senior notes and to pay a portion of the outstanding balance of its revolving credit agreement.

J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as representatives of the underwriters and joint book-running managers for the Offering. The Offering is being made under an effective automatic shelf registration statement on Form S-3, as amended (Registration No. 333-238633), filed by Southwestern Energy with the Securities and Exchange Commission (“SEC”) and only by means of a prospectus supplement and accompanying base prospectus. A preliminary prospectus supplement has been filed with the SEC to which this communication relates. Prospective investors should read the preliminary prospectus supplement and the accompanying base prospectus included in the registration statement and other documents Southwestern Energy has filed with the SEC for more complete information about Southwestern Energy and the Offering. These documents are available at no charge by visiting EDGAR on the SEC website at http://www.sec.gov.

Alternatively, a copy of the base prospectus and the preliminary prospectus supplement may be obtained, when available, from:

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1-866-803-9204

This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities or any securities subject to the tender offers and consent solicitation, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This news release shall not constitute a notice of redemption for any outstanding senior notes or any securities.

About Southwestern Energy
Southwestern Energy Company is a leading U.S. producer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution.

Forward-Looking Statements
Certain statements and information in this news release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended. Forward-looking statements relate to future events, including, but not limited to, the proposed Offering and the use of proceeds of the Offering, including the tender offers and consent solicitation and repaying a portion of the borrowings under Southwestern Energy’s credit agreement. The words “believe,” “expect,” “anticipate,” “plan,” “predict,” “intend,” “seek,” “foresee,” “should,” “would,” “could,” “attempt,” “appears,” “forecast,” “outlook,” “estimate,” “project,” “potential,” “may,” “will,” “likely,” “guidance,” “goal,” “model,” “target,” “budget” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Statements may be forward looking even in the absence of these particular words. Where, in any forward-looking statement, Southwestern Energy expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. We do not intend to publicly update or revise any forward-looking statements as a result of new information, future events, changes in circumstances, or otherwise. These cautionary statements qualify all forward-looking statements attributable to us, or persons acting on our behalf. Management cautions you that the forward-looking statements contained herein are not guarantees of future performance, and we cannot assure you that such statements will be realized or that the events and circumstances they describe will occur. Factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements herein include, but are not limited to: closing the GEPH merger, the timing and extent of changes in market conditions and prices for natural gas, oil and natural gas liquids (“NGLs”), including regional basis differentials and the impact of reduced demand for our production and products in which our production is a component due to governmental and societal actions taken in response to COVID-19 or other public health crises and any related company or governmental policies and actions to protect the health and safety of individuals or governmental policies or actions to maintain the functioning of national or global economies and markets; our ability to fund our planned capital investments; a change in our credit rating, an increase in interest rates and any adverse impacts from the discontinuation of the London Interbank Offered Rate; the extent to which lower commodity prices impact our ability to service or refinance our existing debt; the impact of volatility in the financial markets or other global economic factors; difficulties in appropriately allocating capital and resources among our strategic opportunities; the timing and extent of our success in discovering, developing, producing and estimating reserves; our ability to maintain leases that may expire if production is not established or profitably maintained; our ability to transport our production to the most favorable markets or at all; the impact of government regulation, including changes in law, the ability to obtain and maintain permits, any increase in severance or similar taxes, and legislation or regulation relating to hydraulic fracturing, climate and over-the-counter derivatives; the impact of the adverse outcome of any material litigation against us or judicial decisions that affect us or our industry generally; the effects of weather; increased competition; the financial impact of accounting regulations and critical accounting policies; the comparative cost of alternative fuels; credit risk relating to the risk of loss as a result of non-performance by our counterparties; and any other factors listed in the reports we have filed and may file with the SEC that are incorporated by reference herein. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

Investor Contacts
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. [NYSE: AGR] has issued the following statement in response to the Public Regulation Commission’s decision:

“We are disappointed with the Public Regulation Commission’s decision to reject the agreement reached by the parties. We are evaluating the next steps before us. While we re-evaluate the path ahead, we remain dedicated to the work we do every day across 24 states to create economic, social and environmental value in all the communities we serve. While we hope to one day welcome New Mexico into the AVANGRID family, our future remains bright – we are grateful for the daily efforts of our dedicated team and inspired by recent groundbreaking of Vineyard Wind, America’s first major offshore wind energy installation.”

Adam Gaber
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917-224-6176

Project will enable the school system to allocate energy cost savings to supporting student success

ROCKVILLE, Md.--(BUSINESS WIRE)--#Virginiaschools--Isle of Wight County Schools will now offset nearly 50% of the total electricity needs of seven of its schools with a combined 3.3 megawatt (MW) solar system. Standard Solar, Inc, a leading solar energy company, owns and operates the systems and provided engineering, design expertise and construction oversight.

The combined rooftop arrays are projected to produce an estimated 4,252-megawatt-hours of clean energy each year, offsetting carbon emissions of 7.6 million miles driven by an average car, or 1,000 tons of waste being recycled instead of tossed into a landfill.

“This project does more than help the environment; it saves the school system money so they can focus on providing a more outstanding educational experience for their students,” said John Finnerty, Director of Business Development, Standard Solar. “We’re proud to have put our solar project development and funding expertise and our deep knowledge of helping education institutions utilize renewables without utilizing capital budgets to work for Isle of Wight County Schools.”

The arrays, on the rooftops of Carrollton Elementary School, Carrsville Elementary School, GD Tyler Middle School, Smithfield Main, Windsor Elementary School and Windsor High School, make Isle of Wight County Schools among the first in the area to transition to clean, reliable energy and positioning it for continued economic and community growth.

“Incorporating solar energy is cost-effective and helps the environment while reducing energy expenses and funneling savings to resources that directly impact student success,” said division Superintendent, Isle of Wight County Schools, Dr. Jim Thornton.

“This project is a shining example of the potential of the Virginia Clean Economy Act at work, making solar accessible and affordable for schools throughout Dominion Energy’s territory,” continued Finnerty.

Isle of Wight County Schools will save on their energy costs over the next 20 years through the solar project while providing visible innovation, sustainability and energy management messages to students, parents, staff and visitors.

According to a report by Generation180, 89 Virginia schools had installed solar as of the close of 2019. That number tripled between 2017 and 2019 and moves Isle of Wight County Schools to the front of the class.

“Standard Solar’s project experience includes school systems like Isle of Wight County Schools, businesses, institutions, farms, governments, communities, brownfield redevelopment and utilities,” added Mike Streams, Chief Development Officer, Standard Solar. “Our ability to navigate partnerships and ensure success for the customer makes us the go-to funding choice for project developers, community solar programs and organizations looking to implement or sell clean energy projects.”

About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 225 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.

For project acquisition and development inquiries, contact John Finnerty, Director of Project Development, 240-479-1519, This email address is being protected from spambots. You need JavaScript enabled to view it. and on LinkedIn.

PR:

Leah Wilkinson
Wilkinson + Associates
703-907-0010
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PARIS--(BUSINESS WIRE)--Technip Energies (PARIS:TE) has been awarded a contract by the Abu Dhabi National Oil Company (ADNOC) to update the Front-End Engineering Design (FEED) for the Ghasha mega project including accelerating the integration of carbon capture into the development. This project is part of the Ghasha Concession wherein ADNOC’s strategic partners are Eni (25%), Wintershall Dea (10%), OMV (5%), and LUKOIL (5%).

The project aims to develop the untapped oil and gas reserves from the Ghasha Concession fields which is the world’s largest offshore sour gas development. The Concession area is expected to produce over 1.5bscfd⁽¹⁾ of natural gas, as well as condensate and oil. In addition, the CO₂ capture, dehydration and export shall be an integral part of the project facilities, thereby reinforcing ADNOC’s decarbonization and sustainability commitments.

The start of production from the concession is expected in 2025, ramping up to full production by the end of the decade. The overall objective of the updated FEED will be to further optimize the project costs for this development as well as to accelerate the integration of carbon capture.

Marco Villa, Chief Operating Officer of Technip Energies, stated: “We are very proud to have been awarded this FEED which will be one of the largest ultra-sour gas project Technip Energies has worked on. This award is recognition of the strong competencies in gas processing as well as the relationship and trust that ADNOC has with Technip Energies for such strategic project. As part of our energy transition journey, we will contribute to a robust design of carbon capture and transportation for enhanced oil recovery, a critical element of this project. For the past four decades, we have been committed to ADNOC through added value services and continued our commitment to expand local execution capabilities and enhance In-Country Value.”

(1) Billion standard cubic feet per day.

About Technip Energies

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

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

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States.

For further information: www.technipenergies.com.

Important Information for Investors and Security holders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates. All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

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

Investor relations
Phil Lindsay
Vice-President Investor Relations
+44 20 7585 5051
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Media relations
Stella Fumey
Director Press Relations & Digital Communications
+33 (1) 85 67 40 95
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Jason Hyonne
Press Relations & Social Media Lead
+33 1 47 78 22 89
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• $289.5 million in sales, 31.5% year-over-year increase
• GAAP diluted EPS of $0.36
• $63.1 million in cash and cash equivalents
• Free cash flow for the quarter of $5.2 million
• Closed the acquisition of Process Machinery and Premier Water

HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced financial results for the third quarter ended September 30, 2021. The following are results for the three and nine months ended September 30, 2021, compared to the three and nine months ended September 30, 2020 and sequentially for the three months ended June 30, 2021, where appropriate. A reconciliation of the non-GAAP financial measures can be found in the back of this press release.

Third Quarter 2021 financial highlights:

• Sales increased 31.5 percent to $289.5 million, compared to $220.2 million for the third quarter of 2020 and $285.7 million for the second quarter of 2021.
• Earnings per diluted share for the third quarter was $0.36 based upon 19.6 million diluted shares, compared to a loss of $1.95 per share in the third quarter of September 30, 2020, based on 17.8 million diluted shares.
• Net income for the third quarter was $7.1 million, compared to a loss of $34.7 million for the prior-year period.
• Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) for the third quarter of 2021 was $18.8 million compared to $22.6 million for the second quarter of 2021 and $13.7 million for the third quarter of 2020.
• Cash flow from operations was $6.6 million, compared to $7.6 million for the second quarter of 2021.
• Free cash flow (cash flow from operations less capital expenditures) for the third quarter of 2021 was $5.2 million, compared to $6.8 million in the second quarter of 2021.

David R. Little, Chairman and CEO commented, “We are pleased to report our third quarter financial results. DXP's third quarter sales included year-over-year increases across all three business segments. Total DXP sales increased sequentially and were essentially flat from a sales per business day standpoint compared to Q2 with continued improvement in gross margins. Service Centers led the way with strong performance across all comparatives. Our improved momentum continued in the third quarter as our DXPeople worked together to manage through supply chain challenges and get in front of rising product costs as we rebound from COVID. With strong contributions from our acquisitions, we delivered another quarter of sales and gross margin improvement.

DXP’s third quarter 2021 sales were $289.5 million, or a 31.5 percent increase year-over-year and an 1.3 percent increase over the second quarter. During the third quarter, sales were $212.5 million for Service Centers, $40.5 million for Supply Chain Services and $36.4 million for Innovative Pumping Solutions. We experienced our first sequential quarter end increase in 10 quarters within the IPS backlog while experiencing a rising oil and gas price environment. Most of our customers and the markets we serve continue to show improvement. We remain encouraged by the sequential increases despite the continued choppiness associated with COVID-19 and the related supply chain issues. We added two acquisitions during the quarter and have more active deals that we expect to close moving into fiscal year 2022. With ongoing positive market trends, a strong acquisition pipeline and steady improvement in our execution and capabilities, we are confident in our ability to deliver strong results to our stakeholders during the remainder of 2021 and beyond. Thank you to all our customers and DXPeople."

Kent Yee, CFO, added, “First, I want to thank McConnell & Jones for working with us to get our third quarter done in a timely manner and putting us in a position to follow suit with our year-end audit. With our filing of our third quarter results, we are now current on all filings. Our third quarter year-over-year sales growth of 31.5 percent and gross margin improvement were great to see. Our financial results reflect our continued focus on our customers and improving market conditions. Sales per business day for the quarter were essentially flat to Q2, going from $4.57 million per day to $4.52 million per day for Q3 and were $4.65 and $4.63 million per day, respectively for the months of October and November. The sequential increase in the IPS backlog was great to see and we anticipate the trend to continue. As of September 30, 2021, we had $63.1 million in cash and cash equivalents. The decrease in cash has been primarily driven by our acquisition activity. We have completed three acquisitions since the four at year-end 2020, as well as executing share repurchases to continue to drive value for all of DXP's stakeholders. We are well on our way into diversifying DXP’s end markets while creating stakeholder value. We turned DXP’s sales growth into a $2.31 per share year-over-year improvement in earnings per diluted share or $0.36 in earning per diluted share for the third quarter. Total debt outstanding as of September 30, 2021 was $327.5 million with senior leverage of 3.44:1, well under our covenant of 5.50:1. We remain excited by our sales team’s focus on organic sales growth as well as the contributions from recent acquisitions. The teamwork as well as the overall tone at DXP is moving in the right direction and we look forward to continuing the momentum into fiscal 2022, driving organic and acquisition driven growth.”

Financial Strength and Liquidity

Net debt, calculated as total long-term debt, net of cash and cash equivalents, on our balance sheet as of September 30, 2021, was $264.4 million compared to $210.6 million at December 31, 2020. As of September 30, 2021, DXP has approximately $194.0 million in liquidity, consisting of $63.0 million in cash on hand and approximately $131.0 million in availability under our ABL facility.

Non-GAAP Financial Measures

DXP supplements reporting of net income with non-GAAP measurements, including EBITDA, adjusted EBITDA, free cash flow, non-GAAP net income and net debt. This supplemental information should not be considered in isolation or as a substitute for the unaudited GAAP measurements. Additional information regarding EBITDA, adjusted EBITDA, free cash flow and non-GAAP net income referred to in this press release are included below under "Unaudited Reconciliation of Non-GAAP Financial Information."

The Company believes EBITDA provides additional information about: (i) operating performance, because it assists in comparing the operating performance of the business, as it removes the impact of non-cash depreciation and amortization expense as well as items not directly resulting from core operations such as interest expense and income taxes and (ii) the performance and the effectiveness of operational strategies. Additionally, EBITDA performance is a component of a measure of the Company’s financial covenants under its credit facility. Furthermore, some investors use EBITDA as a supplemental measure to evaluate the overall operating performance of companies in the industry. Management believes that some investors’ understanding of performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing ongoing results of operations. By providing this non-GAAP financial measure, together with a reconciliation from net income, the Company believes it is enhancing investors’ understanding of the business and results of operations, as well as assisting investors in evaluating how well the Company is executing strategic initiatives. Free Cash Flow reconciles to the most directly comparable GAAP financial measure of cash flows from operations as provided below. We believe Free Cash Flow is an important liquidity metric because it measures, during a given period, the amount of cash generated that is available to fund acquisitions, make investments, repay debt obligations, repurchase company shares, and for certain other activities.

About DXP Enterprises, Inc.

DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.

The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. These forward-looking statements include without limitation those about the Company’s expectations regarding the impact of the COVID-19 pandemic and the impact of low commodity prices of oil and gas; the Company's expectations regarding the filing of the Form 10-Q; the description of the anticipated changes in the Company's consolidated balance sheet and the results of operations and the Company's assessment of the impact of such anticipated changes; the Company’s business, the Company’s future profitability, cash flow, liquidity, and growth. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; decreases in oil and natural gas prices; decreases in oil and natural gas industry expenditure levels, which may result from decreased oil and natural gas prices or other factors; inability of the Company or its independent auditors to complete the work necessary in order to file the Form 10-Q, in the expected time frame; unanticipated changes to the Company's operating results in the Form 10-Q as filed or in relation to prior periods, including as compared to the anticipated changes stated here; unanticipated impact of such changes and its materiality; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, economic risks related to the impact of COVID-19, ability to manage changes and the continued health or availability of management personnel and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Business segment financial highlights:

• Service Centers’ revenue for the third quarter was $212.5 million, a 1.4 percent sequential increase and an increase of 28.9 percent year-over-year with a 13.8 percent operating income margin.
• Innovative Pumping Solutions’ revenue for the third quarter was $36.4 million, a sequential decrease of 0.8 percent and an increase of 66.6 percent year-over-year with a 0.8 percent operating income margin.
• Supply Chain Services’ revenue for the third quarter was $40.5 million, a 3.0 percent sequential increase and a increase of 21.2 percent year-over-year with a 7.9 percent operating income margin.

Kent Yee 713-996-4700
Senior Vice President, CFO
www.dxpe.com

• Thales and Gireve partner to improve the Electric Vehicle (EV) charging experience with a secure, interoperable solution that creates a trusted, open infrastructure for car makers, charging point operators, e-Mobility Service Provider and drivers.
• The joint ‘Plug & Charge’ solution brings the security and convenience needed to serve this fast growing market - 84 million electric vehicles (EV) are expected on European roads by 2030¹.
• The platform automatically recognizes the Electric Vehicle, authenticates the driver’s subscription, and starts charging when plugged into an ISO-15118² compatible charging point – an ideal approach for smart grid management on a long term.

PARIS LA DÉFENSE--(BUSINESS WIRE)--Gireve, the leading B2B digital platform for electric mobility, and Thales, leader in digital security, have collaborated to provide a simple and secure ´Plug & Charge´ access and billing system. The joint solution, based on the Thales Trusted Key Manager and Gireve’s intermediation platform, improves the driver experience, builds trust in a multi players’ ecosystem and also helps meet the ISO 15118 International standard.

While the EV market rapidly expands, convenient access to charging networks becomes a priority. The current charging network is still very fragmented, often proprietary and not available in enough places. A global standardized and interoperable solution is needed as well as an improved management of the delivery of electricity.

Today each e-Mobility Service Provider (eMSP) offers EV drivers an RFID card to access and start a charging session. Gireve and Thales have partnered to create a harmonized ´Plug & Charge´ solution to simplify the experience and ensure the highest level of security for all EV market players.

Drivers simply plug their electric car into any ISO 15118-compatible charging station, without using a physical card, and the billing is automatically associated to the subscription managed for them. As a result drivers can then freely choose an e-Mobility Service Provider and access a wider number of charging stations; while benefitting from a secure automated charging and digital payment experience.

The solution delivers unique credential certificates to each actor in the system from driver to vehicle and charging station. The system, based on Thales Trusted Key Manager then ensures the secure and instant mutual authentication between these actors. The solution also verifies that the right credentials are securely generated and distributed from the right e-Mobility Provider to the associated vehicle and user. The result – a simpler and more secure EV charging experience.

This mutual authentication and secure credentials management also set the basis of a trusted environment for coming smart grid deployments. As the EV market is expected to boom in the coming years, so does electricity need. Indeed, such increasing needs will require improved and safe energy management and delivery to address power peaks demand.

“For almost 10 years, Gireve has been a central trusted third party for B2B players in the charging sector. Together with Thales, we are confident our solution addresses key challenges to back up the sustainable success of the EV ecosystem. Our joint efforts are all about facilitating energy access, bringing trust through cybersecurity and boosting drivers’ adoption with improved usage.” Eric Plaquet, CEO at Gireve

“Gireve offered Thales a great opportunity to deploy its field-proven expertise in strong authentication and cybersecurity to the smart charging market. Our partnership supports the sustainable e-mobility sector, by smoothing EV charging access and by creating the trust the sector needs to succeed. Looking forward, our collaboration may unleash further use cases to support smart grid development with more efficient energy management.” Christine Caviglioli, Vice President Automotive at Thales

¹ https://www.delta-ee.com/downloads/1-research-downloads/2830-whitepaper-ev-forecasts-84-million-evs-on-european-roads-by-2030.html
² ISO 15118 is an international standard that outlines the digital communication protocol that an electric vehicle (EV) and charging station should use to recharge the EV’s high-voltage battery.

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum computing – to build a confident future crucial for the development of our societies. The Group provides its customers – businesses, organisations and governments – in the defense, aeronautics, space, transport, and digital identity and security domains with solutions, services and products that help them fulfil their critical role, consideration for the individual being the driving force behind all decisions.

Thales has 81,000 employees in 68 countries. In 2020 the Group generated sales of €17 billion.

About GIREVE

Combining Market Place, Transactions Processing, and Data Management technologies, GIREVE is the leading B-to-B digital platform for electric recharging, offering the first coverage in terms of number of charge points in Europe. The company manages 3,800 contracts between 277 players in 32 countries and references more than 220,000 charge points, including 149,000 open to roaming.
For almost 10 years, GIREVE has been a central trusted third party for B-to-B players in the charging sector, handling negotiations and transactions independently, securely, according to transparent rules, and in compliance with regulations.

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Global infrastructure leader is among a consortium of local companies to implement new Ignition Lab

OVERLAND PARK, Kansas--(BUSINESS WIRE)--With the search for clean energy solutions a major focus of STEM education programs, Black & Veatch has teamed with local Kansas City-based organizations to fund and complete a new solar canopy installation at Operation Breakthrough’s new Ignition Lab. The Ignition Lab will help inspire the next generation of STEM (science, technology, engineering and mathematics) students, advance clean energy and provide onsite zero-carbon solar generation. The Black & Veatch Foundation – the company’s charitable giving arm – was among the project's funders while Black & Veatch also engaged as the solar project design lead and videographer.

Operation Breakthrough is a nationally accredited, not-for-profit child and family development center located in Kansas City, Missouri. For more than 50 years, Operation Breakthrough has provided educational programs, healthcare, parent programs and emergency services to the children and families they serve, more than 87 percent of whom live below federal poverty guidelines. Every weekday, the center cares for more than 700 children, aged six weeks to 18 years.

The Ignition Lab expands Operation Breakthrough’s services to high schoolers, providing 14- to 18-year-olds with opportunities to explore various STEM subjects including energy audits, siting, engineering, drones, graphic design, 3D printing and laser cutting, cyber security/IT, fabrication and construction, coding and more. The Ignition Lab’s focus is aligned with Kansas City’s Real World Learning initiative, which is designed to enable students to acquire work experiences, internships, client-connected projects, college credits and industry-recognized credentials.

“The Ignition Lab not only provides students with technical training, opening new doors for what are historically higher-paying STEM jobs right out of high school, but it also expands the opportunity for these students to figure out which path they want to take in college,” said Mary Esselman, CEO of Operation Breakthrough.

Kansas City Chiefs tight end Travis Kelce obtained the space for the Ignition Lab through his foundation, Eighty-Seven & Running. The solar canopy installation at the Ignition Lab was made possible by a consortium team comprised of Black & Veatch, Sun Partners International, JE Dunn, MRIGlobal, and RisingSun Solar.

“It is humbling to collaborate with Operation Breakthrough and others to develop, fund, and complete this exciting new solar project at the Ignition Lab that will positively impact our community for years,” said Keith Small, Black & Veatch Associate Vice President. “The new Ignition Lab provides a comprehensive living laboratory environment for students, furthers STEM education, and creates opportunities to reduce opportunity gaps.”

Editor’s Notes:

• Learn more about Black & Veatch Foundation
• Learn more about Operation Breakthrough
• Watch the Black & Veatch Operation Breakthrough Project Video

About Black & Veatch

Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.

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Gazelle receives funding from Katapult after being selected from more than 2700 companies

DUBLIN--(BUSINESS WIRE)--#floatingoffshorewind--Gazelle Wind Power (Gazelle), the developer of an innovative hybrid floating offshore wind platform, is pleased to announce that it has been selected as a 2021 portfolio company by Katapult Group (Katapult), an investment company focused on highly scalable technology startups. Through this partnership, Gazelle will be a part of Katapult’s Ocean Accelerator program, receiving investment and access to Katapult’s global network of impact investors, mentors, experts, partners, and alumni. With Katapult’s investment, Gazelle has now raised a total of more than $12.7 million USD.

“Gazelle is within the top 0.8% of impact tech companies screened by Katapult this year, which reinforces the market potential for our technology,” said Gazelle President and Founder Jon Salazar. “We believe that our hybrid floating platform is a critical piece in enabling the enormous offshore wind market and it speaks volumes to have our technology recognized for its role in decarbonization by one of the top impact investors in the world.”

Having screened more than 2,700 companies, Katapult selected Gazelle Wind Power from among 18 companies located in 15 different countries spanning five continents. Each of the selected companies, including Gazelle Wind Power, are committed to addressing at least one or more of the UN’s sustainable development goals.

“We chose Gazelle Wind Power as one of our 2021 portfolio companies because they are addressing a critical problem that would open up the offshore wind market while preserving fragile marine environments,” said Jonas Skattum Svegaarden, Katapult Ocean CEO. “By enabling a lower cost production of emission-free electricity in deepwater sites and using a fraction of the materials used in current designs, Gazelle is making an impact for more than just energy users, but marine life as well.”

More than 150 countries have adopted the UN’s Sustainable Development Goals and thousands of companies have sustainability at the top of their strategic agenda, including Gazelle. The Global Wind Energy Council (GWEC) forecasts the floating offshore wind market will reach full commercialization by 2030 with the expected generation of 6.2 GW of floating offshore wind. Gazelle’s platform supports this growth while reducing costs and installation times. With this rapid progress within the sector, Gazelle is uniquely positioned to be a global leader in wind energy.

Supported by an elite group of energy industry veterans on its board of directors including leading global policymakers, government officials, engineers and CEOs, Gazelle’s hybrid floating platform with a first-of-its-kind mobile mooring system received a statement of feasibility from leading global certification and classification firm DNV.

In less than 12 months, Gazelle has raised $12.7 million USD in funding, including $1.8 million in equity funding from some of the leading investors in the energy transition and $10.9 million in strategic long-term financing.

About Gazelle Wind Power

Gazelle Wind Power Limited is unlocking the massive deep-water offshore wind market to achieve global decarbonisation. The company's durable, disruptive hybrid floating platform with a high stability attenuated pitch surmounts the current barriers of buoyancy and geographic limitations while reducing costs and preserving fragile marine environments. The company is based in Dublin and has a presence in Dubai, London, Madrid, Paris, and Texas. For more information, visit www.gazellewindpower.com.

Media Contacts
For Gazelle Wind Power:
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Connect Airlines’ strategic investment in Universal Hydrogen provides a path to regularly scheduled zero-emission air travel

LOS ANGELES--(BUSINESS WIRE)--#aerospace--Universal Hydrogen Co., the company leading the fight to decarbonize aviation through the adoption of hydrogen as a universal fuel, and smarter startup airline Connect Airlines, today announced they have signed a letter of intent (LOI) for new green-energy propulsion that will enable Connect to soon become the first zero-emission US-based airline.

Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. Connect Airlines, a division of Waltzing Matilda Aviation, is in the final stages of its Department of Transportation certification process as a regularly scheduled airline and will begin service in the spring of 2022. Together, Universal Hydrogen and Connect Airlines will work to introduce true-zero emission regional aircraft into service in North America starting in 2025.

Connect Airlines has committed to purchase 24 of Universal Hydrogen’s green hydrogen conversion kits, consisting of a firm order for 12 Dash 8-300 kits and purchase rights for 12 additional kits of other aircraft types. The conversion kits consist of a hydrogen fuel cell powertrain compatible with Universal Hydrogen’s modular capsule technology. For these aircraft, Universal Hydrogen targets installation of its conversion kits by 2025 and will subsequently supply green hydrogen fuel to the Connect Airlines fleet under a long-term agreement.

Connect Airlines will soon launch service using its “GreenJet” Dash 8 turboprop aircraft which will reduce fuel consumption and carbon footprint by approximately 35 percent versus the regional jets it replaces. The Connect Airlines fleet will transition to a true zero emission operation after adopting Universal Hydrogen’s technology.

“Connect Airlines flies smarter, that’s why we’re excited to partner with Universal Hydrogen to pursue our goal of being the first zero-emission airline in the United States,” said John Thomas, CEO, Connect Airlines. “In addition to this LOI, we were pleased to participate in Universal Hydrogen’s recent $62 million financing round.”

“The US is a laggard in its decarbonization efforts, and the US aviation industry is no exception,” said Paul Eremenko, co-founder and CEO of Universal Hydrogen. “That is why the bold step that Connect Airlines is making in being the first airline to commit to true zero-emissions operation in the relatively near term is so monumentally important.”

About Universal Hydrogen

Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites to airports around the world. To accelerate market adoption, Universal Hydrogen is also developing a conversion kit to retrofit existing regional airplanes with a hydrogen-electric powertrain compatible with its modular capsule technology.

About Waltzing Matilda Aviation / Connect Airlines

WMA is a Boston based FAA Part 135 jet charter operator (Certificate number 6WZA614N) in the certification process to add FAA Part 121 scheduled and non-scheduled services to its Air Operators Certificate under the Connect Airlines brand. WMA identified the need for a “smarter airline” and brought together aviation leaders and enthusiasts with over 150 years’ experience who share a common passion – to work and fly smarter. With the planes we fly, the technology we use, and the operations we run, Connect Airlines will deliver a quieter, cleaner, and healthier travel experience. Connect Airlines, the future of smarter, greener travel.

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DUBLIN--(BUSINESS WIRE)--The "Robotics in Oil and Gas, 2021 Update - Thematic Research" report has been added to ResearchAndMarkets.com's offering.

Robotics has been an essential part of the buzzing oil and gas industry for several decades. It has been adopted in the construction of oil and gas facilities, and also for inspection and maintenance tasks.

Over time, the role of robots in the industry has evolved into a diverse one, with a growing list of functionalities. Robots offer higher reliability and efficiency in fulfilling assigned tasks, while also improving the safety of the operation.

Scope

• This report presents an overview of adoption of robotics in the oil and gas industry.
• It analyses the robotics value chain and how robotics theme is impacting the oil and gas business.
• The report provides an overview of the competitive positions held by oil and gas companies, and technology vendors in the robotics theme.
• It also provides some robotics case studies in the oil and gas industry.

Key Report Benefits

• Evaluates the robotics value chain and evaluates its scope for various application
• Impact analysis of robotics in oil and gas industry
• Review of some of the case studies highlighting the robotics in the oil and gas industry
• Identify and benchmark key oil and gas companies using robotics in their operation
• Identify and benchmark key robotics technology providers in the oil and gas industry

Key Topics Covered:

• Executive Summary
• Impact on the Oil and Gas Industry
• Case Studies
• Players
• Technology Briefing
• Trends
• Oil and gas trends
• Technology trends
• Macroeconomic trends
• Regulatory trends
• Industry Analysis
• Market size and growth forecasts
• Patent trends
• Mergers and acquisitions
• Timeline
• Value Chain
• Robot manufacturing
• Hardware components
• Software components
• Robotics as a service
• Companies
• Oil and gas companies
• Technology companies
• Sector Scorecards
• Integrated oil and gas companies' scorecard

For more information about this report visit https://www.researchandmarkets.com/r/eq4h7d

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
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SÃO PAULO, Brazil--(BUSINESS WIRE)--Emergent Cold Latin America (Emergent LatAm), Latin America’s newest temperature-controlled warehousing and logistics provider, and DP World, a global logistics company and one of the world’s largest marine terminal operators, announced their intention to partner on the development of two temperature-controlled logistics facilities within DP World Logistics Parks in Latin America. These developments will provide Emergent LatAm and DP World customers with a fully integrated supply chain solution.

The developments will be focused on two locations:

• DP World Caucedo (Dominican Republic) is a world-class Logistics Hub and free trade zone located in Punta Caucedo, near the city of Santo Domingo. Caucedo is the newest and most modern port on the island, and a gateway for the Caribbean food trade.
• Duran Logistics Center (Ecuador) began operations in September 2020 as part of a large investment in this important global trade market. Ecuador’s main export commodities include shrimp and bananas.

The parties have also committed to explore development activities in other DP World locations in Latin America to enhance their service offerings and further establish a cold-chain footprint.

“This partnership in these locations is an important step forward in our vision to build the highest quality cold storage network in Latin America,” said Neal Rider, CEO of Emergent LatAm. “DP World is a major player in the region, and we share a commitment to growth in the global food trade. We look forward to working with DP World in delivering a more integrated solution to our customers in their locations.”

“Partnering with Emergent Cold Latam allows us to jointly integrate the refrigerated supply chain of our customer’s and provide logistics solutions that simplify their supply chain,” said Matthew Leech, CEO and Managing Director of DP World Americas Region. “Emergent Cold LATAM fits perfectly with DP World’s Logistics service vision and strategy across the Latam region, enabling trade and expanding our logistics offerings.”

About Emergent Cold Latin America

Emergent Cold Latin America (www.emergentcoldlatam.com) is building the highest quality cold storage network to provide integrated, end-to-end temperature-controlled logistics solutions to customers throughout Latin America. The Company was founded to fill a need for modern cold-chain solutions within the market and to serve the increasing demand from domestic and global trade customers.

About DP World

We are the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. Our comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.

We deliver these services through an interconnected global network of 181 business units in 64 countries across six continents, with a significant presence both in high-growth and mature markets. Wherever we operate, we integrate sustainability and responsible corporate citizenship into our activities, striving for a positive contribution to the economies and communities where we live and work.

Our dedicated, diverse and professional team of more than 56,000 employees from 140 nationalities are committed to delivering unrivalled value to our customers and partners. We do this by focusing on mutually beneficial relationships – with governments, shippers, traders, and other stakeholders along the global supply chain – relationships built on a foundation of mutual trust and enduring partnership.

We think ahead, anticipate change and deploy industry-leading digital technology to further broaden our vision to disrupt world trade and create the smartest, most efficient and innovative solutions, while ensuring a positive and sustainable impact on economies, societies and our planet.

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Emergent Cold Latin America
Greg Mitchell
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RAM Communications
Ron Margulis
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DP World
Roland Buerk
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DP World
Paulo Gabriel Setten
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