WALL, N.J.--(BUSINESS WIRE)--Due to a significant increase in wholesale natural gas prices, today New Jersey Natural Gas (NJNG) filed a notice with the New Jersey Board of Public Utilities (BPU) for a 5% increase related to Basic Gas Supply Service (BGSS) for residential and certain small commercial customers effective December 1, 2021.

Since May 2021, wholesale natural gas prices on the NYMEX – a benchmark index for gas commodity pricing – have increased by nearly 80%. The change to the BGSS is necessary to recover these higher commodity costs. While the underlying reasons for the surge in market prices cannot be tied to one specific cause or event, potential factors influencing the wholesale prices include the global supply demand imbalance and lagging storage levels.

The BGSS rate reflects natural gas commodity prices. These costs are passed through directly to customers and do not result in any increase to NJNG’s profits. If prices decline in the future, NJNG will return any over recoveries to customers through bill credits or rate reductions, as it has done previously. Last year alone, NJNG provided customers with bill credits totaling $20.6 million.

“Through our purchasing strategies, New Jersey Natural Gas works to responsibly manage our supply to serve our customers and minimize the impact of price volatility as much as possible,” said Mark Kahrer, Senior Vice President-Regulatory Affairs, Marketing and Energy Efficiency at NJNG. “After more than a decade of relatively low natural gas prices, this year we saw a sharp increase to the wholesale cost of natural gas, requiring us to take this action. We will continue to monitor market conditions and whenever possible, we will pass on any savings to customers.”

The average NJNG residential heating customer using 100 therms a month will see their bill go up $5.93. This is in addition to the BPU’s recent approval of NJNG’s new base rates and annual BGSS and Conservation Incentive Program filings resulting in an increase of $13.23. When combined, the typical customers will see their monthly bill go from $117.05 to $136.21, effective December 1, 2021.

Consistent with the BPU’s January 6, 2003 board order, New Jersey’s utilities are permitted to implement rate adjustments of up to 5% in December and February. This allows for the necessary cost recovery to keep pace with any wholesale natural gas market trends. Utilities may also decrease rates at any time.

Any customer having trouble paying their natural gas bills should contact NJNG to learn about available energy assistance programs. Resources include deferred payment arrangements, budget plans, utility bill payment assistance, one-time grants and low- or no-cost energy- efficiency programs to help reduce consumption and lower bills.

“There are multiple options available to assist customers who need financial assistance to pay their utility bills. Federal and state programs are already in place to help, and NJNG’s Gift of Warmth program goes the extra mile to help our customers with their natural gas bills. If you are having trouble, reach out to us for assistance, we are here to help,” Mr. Kahrer said.

If you or someone you know is a NJNG utility residential customer in need of assistance, call 800-221-0051 and say "energy assistance" at the prompt to speak with an NJNG customer service representative or email us at This email address is being protected from spambots. You need JavaScript enabled to view it.. NJNG also offers energy-efficiency programs through The SAVEGREEN PROJECT®, including rebates and financing options for high-efficiency equipment, to help customers save energy and money. For more information, visit savegreenproject.com.

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 7,500 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:
Mike Kinney
732-938-1031
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Investor Contact:
Dennis Puma
732-938-1229
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Genvia announces pilot projects with industry leaders that will scale technologies and accelerate the decarbonization of multiple industrial sectors

PARIS--(BUSINESS WIRE)--Schlumberger New Energy, the CEA and partners have announced the signature of pilot project agreements between Genvia and critical-industry leaders on the pathway to net zero in the cement and steel industries. Through these agreements, Genvia will scale up the next generation of electrolyzer technology, developed over two decades of R&D at the CEA, to produce clean hydrogen without CO₂ emissions, accelerating the decarbonization of multiple industrial sectors.

During an official visit to the Schlumberger and Genvia facility on November 16, French President Emmanuel Macron praised the joint public-private partnership and reiterated his commitment and ambition for the hydrogen economy. Leveraging Schlumberger’s industrialization expertise and global footprint, these new agreements will set the stage for developing the entire value chain to use hydrogen as the preferred clean energy carrier.

“The agreements are important steps in accelerating the deployment of Genvia technology that will support the future hydrogen economy,” said Ashok Belani, executive vice president, Schlumberger New Energy. “As a scalable, carbon-free energy carrier, clean hydrogen will play a critical role in meeting global energy transition and net-zero ambitions. Genvia will accelerate the large-scale adoption of clean hydrogen through its demonstrator projects in different industries.”

Genvia's pilot projects will focus on efficiency, performance and decarbonization of industrial processes for the steel and cement industries, as follows:

• Genvia and ArcelorMittal Méditerranée, a subsidiary of ArcelorMittal, a world leader in the steel industry, have agreed a pilot project to substitute current hydrogen use, and support the decarbonization of high-performance electric steel production required for the electric vehicle industry.

• Genvia and Ugitech, part of Swiss Steel Group, a world leader in long stainless-steel products, have agreed a pilot project to demonstrate both the technical relevance of hydrogen as a clean fuel for a reheating furnace that can replace natural gas, and the economic efficiency of Genvia's technology.

• Genvia; Vicat, a cement production group; Hynamics, a low-carbon and renewable hydrogen solutions subsidiary of EDF group; and EDF research have agreed a pilot project focused on the optimization of Genvia’s technology for industrial applications, demonstrated in the cement sector.

Genvia technology aims to achieve the highest system efficiency, resulting in significantly less electricity use per kilogram of hydrogen produced. The projects are expected to produce hydrogen in amounts ranging from 200kg to 600kg per day.

About Genvia

Genvia is a clean hydrogen technology venture created to enable individual organizations, industries and nations to meet their goals for decarbonization by accelerating affordable clean hydrogen production, energy storage and fuel applications at scale. The company represents a unique combination of French science and global engineering, and benefits from the strength of a group of partner companies that include the French Alternative Energies and Atomic Energy Commission (CEA), Schlumberger New Energy, VINCI Construction, Vicat Group and the Occitanie Region.

Find out more at www.genvia.com

About Schlumberger New Energy

Schlumberger is the world's leading provider of technology to the global energy industry. Schlumberger New Energy explores new avenues of growth by leveraging Schlumberger's intellectual and business capital in emerging new energy markets, with a focus on low-carbon and carbon-neutral energy technologies. Its activities include ventures in the domains of hydrogen, lithium, energy storage, carbon capture and sequestration, geothermal power and geoenergy for heating and cooling buildings.

Find out more at newenergy.slb.com

About CEA

The CEA is a key player in research, development and innovation in four main areas: energy transition, digital transition, technology for the medicine of the future and defense and security. With a workforce of 20,000 people, based in nine French sites equipped with very large-scale research infrastructures, the CEA actively participates in collaborative projects with a large number of academic and industrial partners, in France, Europe and worldwide. According to the Clarivate 2019 ranking, the CEA is the first French research organization, in terms of number of patents filed in France and Europe.

The CEA invested through its fully owned subsidiary CEA Investissement, a unique tool for a public research organization. It is assisted and operated by Supernova Invest, the CEA’s private equity partner, which brings its in-depth experience of cutting-edge technologies towards more than 140 investments in deeptech companies, including in the hydrogen industry.

www.cea.fr
www.supernovainvest.com

Cautionary Statement Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "believe," "plan," "can," "estimate," "intend," "anticipate," "should," "could," "will," "likely," "goal," "objective," "ambition," "potential," "projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as the extent to which hydrogen will account for the world's future energy demands; zero emissions goals, anticipated growth of the hydrogen economy; forecasts or expectations regarding the development of, or anticipated benefits of, Genvia’s technology and other Schlumberger New Energy initiatives; and other forecasts or expectations regarding the energy transition and global climate change. These statements are subject to risks and uncertainties, including, but not limited to, the level of acceptance of hydrogen in global decarbonization efforts; the inability to achieve net-zero carbon emissions goals or interim emissions reduction goals; the inability to recognize intended benefits of Genvia’s business strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; and other risks and uncertainties detailed in the companies' public filings, including Schlumberger's most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, the parties disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
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HOUSTON--(BUSINESS WIRE)--Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) (“Solaris”) announced today that its Board of Directors has declared a quarterly cash dividend of $0.105 per share of Class A common stock, to be paid on December 17, 2021 to holders of record as of December 7, 2021. A distribution of $0.105 per unit has also been approved for holders of units in Solaris Oilfield Infrastructure, LLC, which is subject to the same payment and record dates.

About Solaris Oilfield Infrastructure, Inc.

Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) provides mobile equipment that drives supply chain and execution efficiencies in the completion of oil and natural gas wells. Solaris’ patented equipment and services are deployed in many of the most active oil and natural gas basins in the United States. Additional information is available on our website, www.solarisoilfield.com.

Yvonne Fletcher
Senior Vice President, Finance and Investor Relations
(281) 501-3070
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The U.S. Department of Energy is funding an independent review by SSTC of the NuScale Safety Analysis Report to be available to any utility in Ukraine pursuing U.S. SMR technology

PORTLAND, Ore.--(BUSINESS WIRE)--Today, NuScale Power announced the U.S. Department of Energy (DOE) is funding an independent review of NuScale’s Safety Analysis Report (SAR) to be conducted by Ukraine’s State Scientific and Technical Center for Nuclear and Radiation Safety (SSTC NRS). Any party interested in deploying a SMR in Ukraine will benefit from this independent review. This review will demonstrate the viability, value, and international interest in utilizing NuScale’s SMR technology to produce clean, reliable, and affordable energy.

The scope of the independent review will be developed by NuScale and SSTC NRS, and is expected to begin in 2022. Argonne National Laboratory will administer the contract for the effort and review deliverables. The review report will be made available to any utility in Ukraine willing to pursue an approved U.S. SMR technology.

“NuScale is thrilled to see this important regulatory collaboration taking place between the United States and Ukraine to provide utilities with the utmost confidence in the safety of NuScale’s small modular reactor,” said John Hopkins, Chairman and CEO of NuScale Power. “The superior safety profile and features, capability and performance of the NuScale design — which the U.S. Nuclear Regulatory Commission has reviewed and approved — makes NuScale’s SMR technology a great fit for Ukraine. We’re eager to be as helpful as possible to the review team during this process.”

This announcement is further evidence of international interest in NuScale’s SMR technology and follows a series of Memoranda of Understanding to explore NuScale SMR deployment in Ukraine, including with Energoatom, the Ukrainian state operator for the country’s four nuclear power stations and Ukraine’s State Scientific and Technical Center for Nuclear and Radiation Safety (SSTC NRS).

About NuScale Power

NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, hydrogen production and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—power plants that can house up to four, six, or 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 70-year history in commercial nuclear power.

NuScale is headquartered in Portland, OR and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. Visit NuScale Power's website.

Diane Hughes, Vice President, Marketing & Communications, NuScale Power
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(C) (503) 270-9329

HOUSTON--(BUSINESS WIRE)--#bordersecurity--Geospace Technologies (NASDAQ: GEOS) today announced a net loss of $14.1 million, or $(1.05) per diluted share, on revenue of $94.9 million for its fiscal year ended September 30, 2021. This compares with a net loss of $19.2 million, or ($1.42) per diluted share, on revenue of $87.8 million for the comparable year-ago period.

For the fourth quarter ended September 30, 2021, Geospace Technologies (the “Company”) reported revenue of $19.4 million and a net loss of $5.0 million, or ($0.39) per diluted share. For the comparable period last year, the Company recorded revenue of $21.5 million and a net loss of $3.9 million, or ($0.29) per diluted share.

Walter R. (“Rick”) Wheeler, President and CEO of the Company said, “While challenged over the past year by the ongoing havoc and instability brought on by COVID-19, we are pleased that revenue for the fiscal year ended September 30, 2021, increased by 8% over last year. This reflects a near match of revenue achieved just before the pandemic in fiscal year 2019. Performance for each of our market segments over the year was mixed. The Oil and Gas Markets segment experienced a reduction in revenue of 15%. While lower demand for our traditional marine products was a factor, the largest reduction stemmed from fewer rentals of our OBX ocean bottom recording systems. Despite this overall reduction, rental revenue from our OBX equipment increased during the last two quarters of fiscal year 2021. This suggests that OBX demand is improving, as both new and earlier stalled projects move forward. As the world emerges from the pandemic, fueling global economic recovery has increased energy demands, resulting in higher oil prices. This bolsters the likelihood of improved demand for our seismic products. However, a lag in time typically occurs between higher oil prices and greater demand for our products. This lag, in part, is the result of exploration and production (E&P) companies’ decision to allocate a significant portion of their cash flow toward shareholder reward initiatives, such as stock buybacks and dividends, as well as debt reduction. Although we believe this is a short-term trend, until E&P operators begin to reinvest capital in exploration and production, challenges will remain for our Oil and Gas Markets segment. In some upbeat news, we received a new request for proposal from a major oil company for a permanent reservoir monitoring (PRM) system. If after full consideration we provide a proposal, there is no assurance that a contract will be awarded, nor if so, that it would be awarded to us. However, this formal request in conjunction with the level of interest and quality discussions underway with other E&P companies gives us great encouragement that the potential of future PRM contracts is high.”

Wheeler continued, “In positive contrast to the Oil and Gas Markets segment, our Adjacent Markets segment reported an increase in full year revenue of 27% over last year. Industrial products made up the largest increase, due to greater demand for our water meter cables and connectors, as well as our contract manufacturing services. Higher sales of graphic imaging products also boosted revenue in this segment. With the reopening of sporting, entertainment, and other social events and gatherings, demand for these products, used in merchandise and textile printing, has grown. There was no revenue from our IoT smart water valves and cloud platform, secured through our recent Aquana acquisition. However, these products are being actively rolled out as we work closely with potential customers to incorporate their requirements. We expect revenue from our Aquana products to begin in fiscal year 2022. For the Emerging Markets segment, fiscal year 2021 marked a major milestone in the achievement of meaningful revenue from our Quantum Technology Sciences subsidiary. For the full year, this segment generated over $10 million, primarily associated with our contract to provide the U.S. Border Patrol with an advanced high-tech border security solution. We firmly believe the value of actionable information that our Quantum solutions provide will lead to future contracts across multiple U.S. government entities.”

Oil and Gas Markets Segment

Revenue from the Company’s Oil and Gas Markets segment totaled $10.7 million for the three months ended September 30, 2021. For the fiscal year, revenue from this segment totaled $52.3 million. This compares with $14.2 million and $61.7 million for the equivalent three- and twelve-month periods a year ago, reflecting respective decreases of 25% and 15%. The decrease for the three-month period is due to lower utilization of the Company’s wireless OBX nodal marine rental equipment. The twelve-month decrease in revenue is due to COVID-19 related restrictions and lower global demand for oil and gas products which has led to reduced utilization of the Company’s wireless OBX nodal marine rental equipment. The reduced twelve-month rental revenue is partially offset by the $9.9 million sale of wireless OBX nodal marine rental equipment to the former lessee and the $12.5 million sale of a land-based wireless recording system, shipped to the customer in the prior fiscal year. Although there are indicators of increased global demand for oil and gas, the Company’s Oil and Gas Markets segment will remain challenged due to minimal seismic exploration activity.

Revenue contributions to this segment from the Company’s traditional exploration products totaled $ 0.8 million and $4.5 million respectively for the three-month and twelve-month periods ended September 30, 2021. This reflects a decrease of 29% and 32% respectively compared to the same periods a year ago. The decrease for both periods is attributed to low overall demand for these products. Recent improvements in crude oil commodity prices are not expected to result in improved demand for these products until there is an end to capital limitations, expiration of unfavorable price hedges held by the oil and gas companies and a depletion of the under-utilized seismic equipment owned by our customers.

Segment contributions from the Company’s wireless seismic products totaled $9.6 million and $45.8 million respectively for the three- and twelve-month periods ended September 30, 2021. This equates to a 26% decrease and a 15% decrease compared to the corresponding respective year ago periods. The fourth quarter decrease from last year is due to lower rentals of the Company’s wireless products over the three-month period. The full year comparative decrease is a result of lower levels of rental revenue during the year from the Company’s OBX marine nodal recording systems caused by COVID-19 related restrictions and lower global demand for oil and gas. Demand for the Company’s OBX systems is driven by the desire of many E&P companies to find new resources near producing fields and to leverage existing offshore assets for their recovery to achieve lower costs. Increased demand for oil and natural gas, combined with recent increases in commodity pricing for such oil and gas, are expected to result in higher demand for the Company’s OBX systems in 2022.

The Company’s reservoir seismic products contributed $0.3 million and $2.0 million in total revenue for the three-month and full year periods ended September 30, 2021. This compares with $0.1 million and $0.9 million for the equivalent periods one year earlier. Increased demand in the Company’s engineering services is responsible for the increased revenue for both periods. Management believes that contracts for the manufacture and deployment of PRM systems offer the greatest opportunity for meaningful revenue from this product category. The Company has the largest installed base of PRM systems in the world and offers configurations utilizing high-resolution electromagnetic motion sensors or OptoSeis^® fiber optic sensor technology. In the fourth quarter of fiscal year 2021, the Company received a request from a major oil and gas producer for the implementation of a large-scale seabed PRM system. Should the proposal and project proceed, the contract associated with this prospective customer is not anticipated to be awarded until the second quarter of fiscal year 2022. If the Company were awarded the contract, revenue from the contract would not likely be recognized until the latter part of fiscal year 2022 and beyond. The Company is also continuing its ongoing discussions with other major oil and gas producers for possible PRM systems.

Adjacent Markets Segment

Combined revenue from the Company’s Adjacent Markets segment totaled $8.6 million and $32.4 million for the three- and twelve-month periods ended September 30, 2021. This compares with $7.1 million and $25.4 million for the equivalent year ago periods, representing increases of 20% and 27% respectively. The increase in both periods is the result of increased sales of the Company’s smart water meter cable and connector products, higher demand for its contract manufacturing services, and increased demand for imaging products. The Company expects the global supply chain shortages resulting from the COVID-19 pandemic could affect the Company’s ability to supply products to its customers in 2022. To address these global shortages, the Company’s supply chain group is actively engaged in aggressive efforts to mitigate risk with alternative sources. Additionally, the Company’s engineering group is seeking adjusted specifications for products to shorten delivery times while maintaining product integrity and functionality.

Emerging Markets Segment

The Company’s Emerging Markets segment generated revenue of $0.2 million and $10.2 million for the three-month and full year periods ended September 30, 2021. This compares with $0.2 million and $0.7 million for the similar three- and twelve-month periods of the previous year. For both periods, increased revenue is attributed to the near completion of the contract with the U.S. Customs and Border Protection, U.S. Border Patrol. The contract, awarded in April 2020 to the Company’s Quantum subsidiary, provides an advanced technology border and perimeter security solution to the Department of Homeland Security. Management believes its systems are fully aligned and complementary to the U.S. government’s stated intentions of deploying high technology means and methods to protect U.S. borders as well as other strategic assets of the U.S. Federal government.

Balance Sheet and Liquidity

For the fiscal year ended September 30, 2021, the Company spent $7.2 million in cash and cash equivalents from operating activities. The Company used $3.3 million of cash for investment activities that included (i) $9.4 million net purchases of short-term investments, and (ii) $3.2 million for additions to property, plant, and equipment, and (iii) $2.1 in additions in rental equipment. These uses were partially offset by $10.6 million of proceeds from the sale of rental equipment. The Company used $8.2 million for financing activities that included $6.8 million for purchases of treasury stock pursuant to a stock buyback program authorized by the Company’s Board of Directors. The $7.5 million stock buyback program is expected to be completed in the first quarter of fiscal year 2022. As of September 30, 2021, the Company had $23.6 million in cash, cash equivalents and short-term investments. The Company additionally owns unencumbered property and real estate in both domestic and international locations. In fiscal 2022, management anticipates a capex budget of $7.0 million. Subsequent to September 30, 2021, the Company terminated its credit facility with Frost Bank. This credit facility has been unused since September of 2013. The Company is currently seeking a new credit facility with multiple lenders and expects to have a new credit facility in place in the first quarter of fiscal year 2022. The Company plans to fund its operations from its existing liquidity and cash from operations.

Wheeler concluded, “Despite the many negative impacts of COVID-19 throughout the year, our 2021 fiscal year held some remarkable accomplishments. Full year revenue from our Adjacent Markets segment reached its highest figure ever in the Company’s long history. The year also marked the beginning of meaningful revenue from our Quantum subsidiary and Emerging Markets segment. Moreover, combined revenue from products and services outside of our Oil and Gas markets segment made up 45% of the year’s total. This serves as a testament to the power of our diversification strategy and the benefits afforded in transitioning our technologies into other markets. This path forward is further evidenced in our recent addition of Aquana and its smart water management products. Likewise, our announced partnership with Carbon Management Canada to develop a cost-effective solution for monitoring carbon storage with sophisticated Quantum analytics is another example. Both endeavors seek to improve the environment, through better management of water resources in one case, and helping industry reduce atmospheric CO2 in the other. In conjunction with our strong debt-free balance sheet, these pursuits give us optimism that our opportunities for growth are outstanding.

Conference Call Information

Geospace Technologies will host a conference call to review its fourth quarter and fiscal year 2021 financial results on November 19, 2021, at 10:00 a.m. Eastern Time (9 a.m. Central). Participants can access the call at (877) 876-9176 (US) or (785) 424-1670 (International). Please reference the conference ID: GEOSQ421 prior to the start of the conference call. A replay will be available for approximately 60 days and may be accessed through the Investor Relations tab of our website at www.geospace.com.

About Geospace Technologies

Geospace principally designs and manufactures seismic instruments and equipment. We market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. We also market our seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment, offshore cables, remote shutoff water values and Internet of Things (IoT) platform and provide contract manufacturing services.

Forward Looking Statements

This press release contains “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. These forward-looking statements can be identified by terminology such as “may”, “will”, “should”, “intend”, “expect”, “plan”, “budget”, “forecast”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, “evaluating” or similar words. Statements that contain these words should be read carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position or state other forward-looking information. Examples of forward-looking statements include, among others, statements that we make regarding our expected operating results, the adoption, results and success of our transaction with Aquana, LLC, future demand for our Quantum security solutions the adoption and sale of our products in various geographic regions, potential tenders for PRM systems, future demand for OBX systems, the completion of new orders for channels of our GCL system, the fulfillment of customer payment obligations, the impact of and the recovery from the impact of the coronavirus (COVID-19) pandemic, our ability to manage changes and the continued health or availability of management personnel, volatility and direction of oil prices, anticipated levels of capital expenditures and the sources of funding therefor, our ability to secure a new credit facility, and our strategy for growth, product development, market position, financial results and the provision of accounting reserves. These forward-looking statements reflect our current judgment about future events and trends based on the information currently available to us. However, there will likely be events in the future that we are not able to predict or control. The factors listed under the caption “Risk Factors” in our most recent Annual Report on Form 10-K which is on file with the Securities and Exchange Commission, as well as other cautionary language in such Annual Report, any subsequent Quarterly Report on Form 10-Q, or in our other periodic reports, provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Such examples include, but are not limited to, the failure of the Quantum or OptoSeis^® or Aquana technology transactions to yield positive operating results, decreases in commodity price levels and continued adverse impact of COVID-19, which could reduce demand for our products, the failure of our products to achieve market acceptance (despite substantial investment by us), our sensitivity to short term backlog, delayed or cancelled customer orders, product obsolescence resulting from poor industry conditions or new technologies, bad debt write-offs associated with customer accounts, inability to collect on promissory notes, lack of further orders for our OBX systems, failure of our Quantum products to be adopted by the border and security perimeter market or a decrease in such market due to governmental changes, and infringement or failure to protect intellectual property. The occurrence of the events described in these risk factors and elsewhere in our most recent Annual Report on Form 10-K or in our other periodic reports could have a material adverse effect on our business, results of operations and financial position, and actual events and results of operations may vary materially from our current expectations. We assume no obligation to revise or update any forward-looking statement, whether written or oral, that we may make from time to time, whether as a result of new information, future developments or otherwise, except as required by applicable securities laws and regulations.

Media Contact: Caroline Kempf, This email address is being protected from spambots. You need JavaScript enabled to view it., 321.341.9305

Funding by Sound Point Capital supports MiddleGround Capital’s acquisition of Lindsay Precast

NEW YORK--(BUSINESS WIRE)--#AcquisitionFinance--Sound Point Capital Management (“Sound Point”) is pleased to announce that it acted as Administrative Agent on a first lien senior secured credit facility to Lindsay Precast (“Lindsay” or the “Company”), a premier North American concrete manufacturer specializing in precast concrete products. Funding provided by Sound Point was used to support MiddleGround Capital’s (“MiddleGround”) acquisition of the Company.

Headquartered in Ohio and operating for 50+ years, Lindsay Precast is a designer and manufacturer of engineered precast concrete structures for water/wastewater, utility, solar, transportation, and government end markets. Lindsay produces sanitary and storm sewer products, electrical and telecom utility products, solar inverter skids and ballast bases, box culverts and bridge products, and various other products. The Company’s products are sold into a diverse customer base that includes state and municipal government entities, utility companies, renewable energy companies, and the federal government.

Lauren Mulholland, MiddleGround Capital’s Founding Partner commented: “Throughout the process, Sound Point differentiated itself with its thoughtful diligence and certainty of execution. Their ability to quickly understand the dynamics of the market, Lindsay’s operating model, and align on our vision for the future was a real differentiator. We value the relationship and look forward to continuing to grow our partnership with Sound Point.”

“Lindsay Precast has designed and manufactured high quality products since the 1960’s, and its solution offering for utility, infrastructure and renewable energy customers is critical in improving our nation’s infrastructure,” added Andrew Eversfield, Managing Director of Sound Point Capital’s Direct Lending business. “We’ve known the MiddleGround team since inception and to be able to partner with them on the first platform investment in their $800M Fund II is extra special. We look forward to supporting MiddleGround and Lindsay Precast through the Company’s next stage of growth.”

About Sound Point Capital Management, LP
Sound Point is an alternative asset management firm founded in 2008 with particular expertise in credit strategies. Based in New York, with offices in London, the firm manages money on behalf of institutional investors including top-tier pensions, foundations, insurance companies, wealth management firms and family offices. Sound Point's strategies span the spectrum of liquid and illiquid credit alternatives and include funds and managed accounts focused on leveraged loans, special situations, distressed debt, structured credit, direct lending and commercial real estate. Sound Point currently manages approximately $27.5 billion of assets. Five principals of Stone Point Capital LLC, as well as Dyal Capital Partners, a division of Blue Owl Capital Inc. [NYSE: OWL], are strategic investors in our business. For more information, please visit Sound Point's website at www.soundpointcap.com.

About Lindsay Precast
Lindsay Precast is a premier concrete manufacturer and steel structure fabricator specializing in precast concrete products for state and municipal government entities, banks, utility companies, renewable energy companies and the US military. The company is headquartered in Canal Fulton, OH and has 350 employees across 8 facilities located in OH, CO, FL, NC, and SC. For more information, please visit: https://lindsayprecast.com/.

About MiddleGround Capital
MiddleGround Capital is a private equity firm based in Lexington, KY with over $2.0 billion in AUM. MiddleGround makes control equity investments in lower middle market B2B industrial and specialty distribution businesses. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies. For more information, please visit: www.middlegroundcapital.com.

Media inquiries:
Gregory J. Cresci
Sound Point Capital Management, LP
(212) 895-2277
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HOUSTON--(BUSINESS WIRE)--#carboncapture--Enovate Upstream -- a major innovation player in the oil and gas (O&G) industry -- announced collaborations with Beicip-Franlab, a global O&G software solutions provider, and Dsider, a technology company leveraging decision intelligence technologies for industrial companies. The alignment applies multidisciplinary expertise necessary for the energy sector to achieve its net zero standards.

The co-creation mission is to accelerate industry digitalization while working to reduce carbon emissions. The innovative approach connects data, research, process, and technology to deploy digital intelligence necessary for energy transition. As part of this approach, companies can explore new business and operating models to help accelerate their transition by managing revenue and offsetting costs.

Enovate Upstream will add ADA AI™ Sustainability Series to its ADA AI™ Digital Ecosystem. The new series is the Environmental, Social, and Governance (ESG) arm of the company’s platform. The Dsider partnership is critical in creating a single end-to-end solutions platform for Carbon Capture, Storage and Utilization (CCUS) and Geothermal initiatives. The Beicip-Franlab alignment is instrumental to deploy sustainability offerings by integrating advanced geological and reservoir expertise and software into Enovate’s expertise in digital intelligence developments.

“We’re dedicated to automated solutions that decrease safety incidents and increase profits, while having less environmental impact,” shared Camilo Mejia, CEO at Enovate Upstream. “This exciting opportunity will create a new business market where O&G has the opportunity to accelerate production of geothermal energy and reduce carbon emissions. We’re integrating disciplines, applying cutting-edge technology, and using precise modeling components to increase governance of key ESG goals, such as achieving Net Zero.”

Using technology, this co-creation strategy allows companies to simulate decisions that offer multiple solutions to achieve net zero goals. Specifically, businesses employ a simulation environment demonstrating alternatives creating a robust intellectual framework to develop new business models. The models provide contextual references weighing production and economic risks and outcomes.

“Our technology is applicable across multiple industries, but Energy transition is the initial focus,” shared Sujatha Kumar, CEO at Dsider. “Our solutions provide clarity on the end-to-end processes, technology and associated economics so companies can make informed decisions related to their investments and their operations. The social and economic impact will be helping organizations achieve Net Zero goals while providing more efficient and innovative business models.”

“Geothermal potential stored on various geological settings requires deep understanding of rocks' thermal and mechanical conditions that could bring development opportunities -- leveraging from key angles such as sustainability and economics, the integration with real-time decision-making toolboxes, combined with sound geological understanding, guarantees scalable growth of geothermal production,” said Felipe Medellin, Beicip-Franlab US General Manager.

ABOUT ENOVATE UPSTREAM

Enovate Upstream is the only business hybrid technology company operated by experienced executives and research leaders from the O&G industry. The cloud-based ADA AI™ platform uses artificial intelligence at every stage of the upstream value chain to provide reliable decision-making tools using scientific, engineering, and financial data – providing capital efficiency and production enhancement at every stage of the well. Enovate Upstream

ABOUT BEICIP-FRANLAB

Beicip-Franlab is a leading independent petroleum consultancy firm and geoscience software editor highly reputed for technical quality, reliability and competitiveness. Beicip-Franlab provides best-in-class consultancy and software solutions in exploration, reservoir and field development, production optimization, process optimization, midstream-downstream studies.

ABOUT Dsider

Dsider is reimagining the future of decision making with its transformative Decision Intelligence platform. By mapping processes, data and knowledge into a “Digital Twin” of the business with embedded analytics, Dsider provides a level of abstraction and simplification to allow users to focus on key metrics, economics and trade-offs to drive better and informed decisions.

Rea Summers
713-447-6935

The unified, digital platform powers better decision-making, scalability, and transformation across all levels of supply chain maturity

ATLANTA--(BUSINESS WIRE)--#SupplyChain--Logility, Inc., a leader in supply chain innovation powering the sustainable and resilient enterprise, today announced its parent company American Software, Inc., has consolidated the resources of its portfolio of supply chain companies, including Logility, Inc., Demand Management, Inc., and New Generation Computing, Inc. (NGC Software). The subsidiaries will now operate as a single, cohesive team, unifying resources and services to enhance customer experience and its ability to deliver innovation to market.

Through the companies’ blended capabilities, customers will enjoy a comprehensive, digital platform built for multi-enterprise collaboration and performance ­– the Logility Digital Supply Chain Platform^®. The recently released platform features products from across the combined portfolio and provides customers access to a wide range of capabilities that simplify supply chain operations, processes and decision-making. By leveraging artificial intelligence (AI), machine learning (ML) and automation, users can continuously sense, analyze and update activity in the digital supply chain, always ensuring peak operational performance.

“The synergy between Logility, Demand Management, and NGC Software creates the most complete and innovative supply chain planning platform on the market,” said Allan Dow, president and CEO of Logility. “Now, more than ever, the digital economy requires an intuitive supply chain powered by cognitive planning. The capabilities and experience from our expanded team will result in greater innovation and, ultimately, better business outcomes for our customers.”

The Logility Digital Supply Chain Platform supports a wide range of industries, including apparel, food and beverage, consumer packaged and durable goods, life sciences and process manufacturing. Learn more about the Logility Digital Supply Chain Platform^® by visiting logility.com/solutions.

About Logility

Accelerating the digital sustainable supply chain, Logility helps companies seize new opportunities, sense and respond to changing market dynamics and more profitably manage their complex global businesses. The Logility® Digital Supply Chain Platform leverages an innovative blend of artificial intelligence (AI) and advanced analytics to automate planning, accelerate cycle times, increase precision, improve operating performance, break down business silos and deliver greater visibility. Logility’s SaaS-based platform transforms sales and operations planning (S&OP) and integrated business planning (IBP) processes; demand, inventory and replenishment planning; global sourcing; quality and compliance management; product life cycle management; supply and inventory optimization; manufacturing planning and scheduling; retail merchandise planning, assortment and allocation. Logility customers include Big Lots, Husqvarna Group, Parker Hannifin, Sonoco Products and Red Wing Shoe Company. Logility is a wholly owned subsidiary of American Software, Inc. (NASDAQ: AMSWA). To learn how Logility can help you make smarter decisions faster, visit www.logility.com.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results or performance to differ materially from what is anticipated by statements made herein. These factors include, but are not limited to, continuing U.S. and global economic uncertainty and the timing and degree of business recovery; the irregular pattern of the Company’s revenues; dependence on particular market segments or customers; competitive pressures; market acceptance of the Company’s products and services; technological complexity; undetected software errors; potential product liability or warranty claims; risks associated with new product development; the challenges and risks associated with integration of acquired product lines, companies and services; uncertainty about the viability and effectiveness of strategic alliances; American Software, Inc.’s ability to satisfy in a timely manner all Securities and Exchange Commission (SEC) required filings and the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 and the rules and regulations adopted under that Section; as well as a number of other risk factors that could affect the Company’s future performance. For further information about risks the Company and American Software could experience as well as other information, please refer to American Software, Inc.’s current Form 10-K and other reports and documents subsequently filed with the SEC. For more information, contact: Kevin Liu, American Software, Inc., (626) 657-0013 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

Logility® is a registered trademark of Logility, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.

Valerie Miller
Logility
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(404) 264-5484

SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO, “Valero”) announced today that it has priced a public offering of $500,000,000 aggregate principal amount of 2.800% Senior Notes due 2031 and $950,000,000 aggregate principal amount of 3.650% Senior Notes due 2051.

The offering is expected to close on November 29, 2021, subject to customary closing conditions. Valero intends to use the net proceeds from the offering and $750.0 million of cash on hand to finance its cash tender offers (the “Tender Offers”) to repurchase its 2.700% Senior Notes due 2023 (the “Any and All Notes”) and its 1.200% Senior Notes due 2024, 3.650% Senior Notes due 2025, 2.850% Senior Notes due 2025, 10.500% Senior Notes due 2039, 8.750% Senior Notes due 2030, 7.500% Senior Notes due 2032 and 6.625% Senior Notes due 2037 and the 4.375% Senior Notes due 2026 issued by Valero Energy Partners LP and guaranteed by Valero (collectively, the “Maximum Tender Offer Notes” and together with the Any and All Notes, the “Existing Notes”). In the event that there are any net proceeds from this offering that are not used to finance the Tender Offers, Valero anticipates using such net proceeds for general corporate purposes. To the extent that less than all of the outstanding Any and All Notes are tendered and accepted for purchase, Valero currently intends (but is not obligated) to redeem all of the Any and All Notes that remain outstanding following the consummation of the Tender Offers.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC and SMBC Nikko Securities America, Inc. acted as joint book-running managers for the notes.

Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Citigroup Global Markets Inc. toll-free at 1 (800) 831-9146, J.P. Morgan Securities LLC collect at 1 (212) 834-4533, Mizuho Securities USA LLC at 1 (866) 271-7403 or SMBC Nikko Securities America, Inc. at 1 (888) 868-6856 and online at www.sec.gov.

About Valero

Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 500 company based in San Antonio, Texas, and owns 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 12 ethanol plants with a combined production capacity of approximately 1.6 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture partner in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel owns North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names.

The notes were offered and will be sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission, and only by means of a prospectus supplement and accompanying base prospectus. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Investors:
Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992

Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002

Thoughtworks to eliminate 2,000 tons of greenhouse gases from participant footprint at its booth and Green Code hackathon at AWS re:Invent with Tradewater

CHICAGO--(BUSINESS WIRE)--Thoughtworks (NASDAQ: TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, today announced applying its deep agile and technical expertise to building a Fractionalized Offset Management (FOM) system for Tradewater, a mission-based environmental project development firm focused on preventing greenhouse gas emissions.

Launched in 2021, the FOM system enables Tradewater to provide its subscribers – individuals, households and businesses – with web-based tools to measure the carbon impact of a daily task, travel, business operation or event. Subscribers can purchase high-quality carbon offset credits, directly funding the prevention of greenhouse gas emissions through Tradewater’s projects, which collect and destroy potent refrigerant gases. The FOM system manages this exchange through a centralized marketplace that retires the credits on accredited registries and provides purchasers with complete documentation.

Thoughtworks applied its customer experience, product and design capabilities to rapidly deliver Tradewater’s FOM system. In one year, Tradewater has seen its offset credit subscriptions grow by 419 percent and single purchases spike by 422 percent. These numbers represent 15,042 tons of C0₂e, the equivalent of removing 3,721 passenger vehicles from the road for one year, eliminating the use of 1,692,585 gallons of gasoline or avoiding the yearly electrical use of 2,732 homes.

“At Tradewater, we believe that everyone has the power to fight climate change,” said Tim Brown, CEO at Tradewater. “With Thoughtworks working side-by-side with us, we were able to co-create the strategic framework that ultimately led to the development of the FOM system in less than sixty days. As a longstanding partner, we’ve relied on Thoughtworks’ unique approach and technical expertise to engage more people in the fight against climate change.”

The Thoughtworks and Tradewater collaborations extend beyond the FOM system, with Tradewater sharing their deep expertise in carbon footprint reporting as Thoughtworks pursues its commitment to the Science Based Target Initiative.

“At Thoughtworks, we’re working to reduce our own carbon footprint while also leveraging technology to help our clients and our industry take action on theirs,” said Elise Zelechowski, who leads Thoughtworks’ global sustainability strategy. “We are excited to be partnering with Tradewater to achieve its goal of reducing greenhouse gas emissions and making high-impact carbon offsets accessible to everyone, no matter the size of the offset.”

Join Thoughtworks at AWS re:Invent 2021 (November 29-December 3, 2021) in Las Vegas, where the company is a bronze sponsor and is also sponsoring “Code Green: The Sustainability Data Hackathon and Workshop” with a focus on sustainability on November 29, 2021. Thoughtworks and Tradewater will work together to offset the carbon impact of participants' travel to AWS re:Invent, eliminating 2,000 tons of greenhouse gases from the atmosphere.

Supporting Resources:

• Calculate your carbon footprint with Tradewater’s tool
• Watch the Tradewater video testimonial and read the case study
• Learn more about Thoughtworks’ sustainability initiatives
• Keep up with Thoughtworks news by visiting the company’s website
• Follow us on Twitter, LinkedIn and YouTube.

About Tradewater
Tradewater is a mission-based company focused on the collection and destruction of greenhouse gases, particularly old refrigerants. This work results in independently verified, high quality carbon offset credits. Tradewater is headquartered in Chicago, Illinois and operates around the world.

To date, Tradewater has collected and destroyed over 1 million pounds of old chlorofluorocarbon (CFC) refrigerants and has prevented the equivalent of 5.1 million metric tons of CO2 from being released into the atmosphere. This has the same impact as taking 900,000 cars off the road.

About Thoughtworks
Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. We are 10,000+ people strong across 48 offices in 17 countries. Over the last 25+ years, we’ve delivered extraordinary impact together with our clients by helping them solve complex business problems with technology as the differentiator.

Media:
Linda Horiuchi, global head of public relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: +1 (646) 581-2568

NEWCASTLE, England & HOUSTON--(BUSINESS WIRE)--Regulatory News:

TechnipFMC plc (NYSE: FTI) (PARIS: FTI) (the “Company”) announced today that it has commenced a tender offer (the “Tender Offer”) for up to $100 million aggregate principal amount (the “Maximum Tender Amount”) of its (i) 6.500% Senior Notes due February 1, 2026 (the “2026 Notes”); (ii) 5.75% Notes due June 30, 2025 (the “2025 Notes”); (iii) 3.15% Notes due October 16, 2023 (the “2023 Series A Notes”); and (iv) 3.15% Notes due October 18, 2023 (the “2023 Series B Notes” and, collectively with the 2023 Series A Notes, the “2023 Notes”, and, collectively with the 2026 Notes and the 2025 Notes, the “Notes”).

The terms and conditions of the Tender Offer are set forth in an Offer to Purchase (the “Offer to Purchase”), dated November 18, 2021. The Company intends to fund the Tender Offer with cash on hand.

The following table summarizes the material pricing terms of the Tender Offer:

For the 2025 Notes and the 2026 Notes, the Tender Offer will expire at 11:59 P.M., New York City time, on December 16, 2021 (in respect of such Notes, the “Expiration Time”), unless extended or earlier terminated. Holders of such Notes who validly tender and do not validly withdraw their Notes at or prior to 5:00 P.M., New York City time, on December 2, 2021 (the “Early Tender Time”), and whose Notes are accepted for purchase, will receive the payment for such series of Notes as indicated in the table above. For the 2023 Notes, the Tender Offer will expire at 4:00 P.M., Paris time, on December 2, 2021 (in respect of such Notes, the “2023 Notes Offer Expiration Time”), unless extended or earlier terminated. Holders of such Notes who validly tender and do not validly withdraw their Notes at or prior to 4:00 P.M., Paris time, on December 2, 2021, and whose Notes are accepted for purchase, will receive the payment for such series of Notes as indicated in the table above. No tenders of 2023 Notes will be accepted after the 2023 Notes Offer Expiration Time whether or not the Maximum Tender Amount is exceeded. Holders of 2025 Notes and 2026 Notes who validly tender their Notes after the Early Tender Time will only be eligible to receive the “Tender Offer Consideration,” which is the Total Consideration less the “Early Tender Premium”.

In addition to the Total Consideration or Tender Offer Consideration, as applicable, Holders whose Notes are accepted for purchase will also receive accrued and unpaid interest from the last interest payment date for Notes of the applicable series to, but not including, the applicable settlement date. Payment for all Notes validly tendered at or prior to the Early Tender Time or the 2023 Notes Offer Expiration Time, as applicable, and accepted for purchase will be made on the “Early Settlement Date”, which will be promptly after the Early Tender Time and is anticipated to occur on or about December 6, 2021. Payment for 2025 Notes and 2026 Notes validly tendered and accepted for purchase after the Early Tender Time and at or prior to the Expiration Date will be made promptly after the Expiration Time.

Notes accepted for payment on any settlement date will be accepted in accordance with the priority of acceptance set forth in the table above (with 1 being the highest priority of acceptance level and 4 being the lowest priority of acceptance level), provided that the Company will only accept for purchase Notes up to the Maximum Tender Amount and the Company will only accept for purchase 2025 Notes up to a maximum aggregate principal amount of $50,000,000 (or euro equivalent) (the “2025 Notes Cap”).

If more than the Maximum Tender Amount of Notes are validly tendered and not validly withdrawn at the Early Tender Time, the Company reserves the right not to accept any 2026 Notes or 2025 Notes tendered by Holders after the Early Tender Time.

The Company reserves the right, but is not obligated, to increase the Maximum Tender Amount and/or the 2025 Notes Cap in its sole discretion.

Tendered 2025 Notes and 2026 Notes may be withdrawn at any time at or prior to, but not after, 5:00 P.M., New York City time, on December 2, 2021, unless extended by the Company, except under certain limited circumstances as otherwise required by law. Tendered 2023 Notes may be withdrawn at any time at or prior to, but not after, 4:00 P.M., Paris time, on December 2, 2021, unless extended by the Company, except under certain limited circumstances as otherwise required by law.

The consummation of the Tender Offer is not conditioned upon any minimum amount of Notes being tendered, but is subject to the satisfaction or waiver of certain conditions described in the Offer to Purchase.

The Company has engaged BofA Securities, Inc. and Citigroup Global Markets, Inc., to act as the dealer managers for the Tender Offer. The Information Agent for the Tender Offer is Global Bondholder Services Corporation. The French Tender Agent for the Tender Offer is Société Générale Securities Services. Copies of the Offer to Purchase and related offering materials are available by contacting the Information Agent at +1 (866) 470-3700 (toll-free), +1 (212) 430-3774 or This email address is being protected from spambots. You need JavaScript enabled to view it.. Questions regarding the Tender Offer should be directed to BofA Securities, Inc. at +1 (980) 387-5602 (collect), +44 20-7996-5420, This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. and Citigroup Global Markets, Inc. at +1 (800) 558-3745 (toll-free) or +1 (212) 723-6106 (collect).

This press release is not an offer to purchase or a solicitation of an offer to sell any securities. The Tender Offer is being made solely pursuant to the terms of the Offer to Purchase. The Company may amend, extend or terminate the Tender Offer in its sole discretion. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws of such jurisdiction.

Forward-Looking Statements

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

United Kingdom

The communication of this press release and any other documents or materials relating to the Tender Offer is not being made and such documents and/or materials have not been approved by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000 (“FSMA”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) those persons who are existing members or creditors of the Company or other persons within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and (2) to any other persons to whom these documents and/or materials may lawfully be communicated.

European Economic Area (EEA)

In any European Economic Area (EEA) Member State (the “Relevant State”), this press release is only addressed to and is only directed at qualified investors in that Relevant State within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017, as amended (the “Prospectus Regulation”). Each person in a Relevant State who receives any communication in respect of the Tender Offer contemplated in this press release will be deemed to have represented, warranted and agreed to and with each Dealer Manager and the Company that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.

United States (for the 2023 Notes only)

Each Holder of 2023 Notes participating in the Tender Offer will represent that it is not participating in the Tender Offer from the United States (including its territories and possessions), that it is participating in the Tender Offer in accordance with Regulation S under the U.S. Securities Act of 1933, as amended and that it is not a U.S. person or it is acting on a non-discretionary basis for a principal located outside the United States (including its territories and possessions) that is not giving an offer to participate in the Tender Offer from the United States (including its territories and possessions) and who is not a U.S. person.

About TechnipFMC

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

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

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

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

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

Category: UK regulatory

Investor relations

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

Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
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Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today the closing of the sale of a 36% minority equity interest in its Cameron Highway Oil Pipeline System (“CHOPS”) to an undisclosed financial party at an 8/8ths valuation of $1.16 billion, which results in gross proceeds to Genesis of approximately $418 million. Proceeds from the sale, net of fees and expenses, will be used to repay the full $300 million outstanding under its term loan with the remainder going to pay down outstanding amounts under the revolving portion of its senior secured credit facility and results in a pro forma bank leverage ratio of 4.96x¹. Genesis now owns 64% of CHOPS and will remain operator of the pipeline.

In conjunction with this announcement, Genesis has made the decision to fund the remaining capital required for its Granger expansion project over and above the minimum of $250 million Genesis is required to draw from its asset level preferred security. Genesis intends to fund the remaining capital through a combination of its internally generated free cash flow and availability under its senior secured credit facility.

Grant Sims, CEO of Genesis Energy, said, “This transaction confirms the significant value and longevity of our midstream assets focused on moving the low-carbon footprint crude oil produced in the deepwater areas of the central Gulf of Mexico, and importantly knocks off over a full half turn from our bank leverage ratio calculated on a pro forma basis. The transaction also provides Genesis with significant financial flexibility to use our increasing levels of free cash flow to continue to reduce debt and/or pursue the highest return projects in our portfolio. As we look forward, we remain very encouraged with the trajectory of our market-leading and diversified businesses.”

Citi served as financial advisor and Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Genesis.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, marine transportation and onshore facilities and transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.

__________________________

¹ As of September 30, 2021.

Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521

NEWCASTLE, England & HOUSTON--(BUSINESS WIRE)--TechnipFMC plc (NYSE: FTI) (PARIS: FTI) (the “Company”) announced today that it has commenced a tender offer (the “Tender Offer”) for up to $100 million aggregate principal amount (the “Maximum Tender Amount”) of its (i) 6.500% Senior Notes due February 1, 2026 (the “2026 Notes”); (ii) 5.75% Notes due June 30, 2025 (the “2025 Notes”); (iii) 3.15% Notes due October 16, 2023 (the “2023 Series A Notes”); and (iv) 3.15% Notes due October 18, 2023 (the “2023 Series B Notes” and, collectively with the 2023 Series A Notes, the “2023 Notes”, and, collectively with the 2026 Notes and the 2025 Notes, the “Notes”).

The terms and conditions of the Tender Offer are set forth in an Offer to Purchase (the “Offer to Purchase”), dated November 18, 2021. The Company intends to fund the Tender Offer with cash on hand.

The following table summarizes the material pricing terms of the Tender Offer:

For the 2025 Notes and the 2026 Notes, the Tender Offer will expire at 11:59 P.M., New York City time, on December 16, 2021 (in respect of such Notes, the “Expiration Time”), unless extended or earlier terminated. Holders of such Notes who validly tender and do not validly withdraw their Notes at or prior to 5:00 P.M., New York City time, on December 2, 2021 (the “Early Tender Time”), and whose Notes are accepted for purchase, will receive the payment for such series of Notes as indicated in the table above. For the 2023 Notes, the Tender Offer will expire at 4:00 P.M., Paris time, on December 2, 2021 (in respect of such Notes, the “2023 Notes Offer Expiration Time”), unless extended or earlier terminated. Holders of such Notes who validly tender and do not validly withdraw their Notes at or prior to 4:00 P.M., Paris time, on December 2, 2021, and whose Notes are accepted for purchase, will receive the payment for such series of Notes as indicated in the table above. No tenders of 2023 Notes will be accepted after the 2023 Notes Offer Expiration Time whether or not the Maximum Tender Amount is exceeded. Holders of 2025 Notes and 2026 Notes who validly tender their Notes after the Early Tender Time will only be eligible to receive the “Tender Offer Consideration,” which is the Total Consideration less the “Early Tender Premium”.

In addition to the Total Consideration or Tender Offer Consideration, as applicable, Holders whose Notes are accepted for purchase will also receive accrued and unpaid interest from the last interest payment date for Notes of the applicable series to, but not including, the applicable settlement date. Payment for all Notes validly tendered at or prior to the Early Tender Time or the 2023 Notes Offer Expiration Time, as applicable, and accepted for purchase will be made on the “Early Settlement Date”, which will be promptly after the Early Tender Time and is anticipated to occur on or about December 6, 2021. Payment for 2025 Notes and 2026 Notes validly tendered and accepted for purchase after the Early Tender Time and at or prior to the Expiration Date will be made promptly after the Expiration Time.

Notes accepted for payment on any settlement date will be accepted in accordance with the priority of acceptance set forth in the table above (with 1 being the highest priority of acceptance level and 4 being the lowest priority of acceptance level), provided that the Company will only accept for purchase Notes up to the Maximum Tender Amount and the Company will only accept for purchase 2025 Notes up to a maximum aggregate principal amount of $50,000,000 (or euro equivalent) (the “2025 Notes Cap”).

If more than the Maximum Tender Amount of Notes are validly tendered and not validly withdrawn at the Early Tender Time, the Company reserves the right not to accept any 2026 Notes or 2025 Notes tendered by Holders after the Early Tender Time.

The Company reserves the right, but is not obligated, to increase the Maximum Tender Amount and/or the 2025 Notes Cap in its sole discretion.

Tendered 2025 Notes and 2026 Notes may be withdrawn at any time at or prior to, but not after, 5:00 P.M., New York City time, on December 2, 2021, unless extended by the Company, except under certain limited circumstances as otherwise required by law. Tendered 2023 Notes may be withdrawn at any time at or prior to, but not after, 4:00 P.M., Paris time, on December 2, 2021, unless extended by the Company, except under certain limited circumstances as otherwise required by law.

The consummation of the Tender Offer is not conditioned upon any minimum amount of Notes being tendered, but is subject to the satisfaction or waiver of certain conditions described in the Offer to Purchase.

The Company has engaged BofA Securities, Inc. and Citigroup Global Markets, Inc., to act as the dealer managers for the Tender Offer. The Information Agent for the Tender Offer is Global Bondholder Services Corporation. The French Tender Agent for the Tender Offer is Société Générale Securities Services. Copies of the Offer to Purchase and related offering materials are available by contacting the Information Agent at +1 (866) 470-3700 (toll-free), +1 (212) 430-3774 or This email address is being protected from spambots. You need JavaScript enabled to view it.. Questions regarding the Tender Offer should be directed to BofA Securities, Inc. at +1 (980) 387-5602 (collect), +44 20-7996-5420, This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. and Citigroup Global Markets, Inc. at +1 (800) 558-3745 (toll-free) or +1 (212) 723-6106 (collect).

This press release is not an offer to purchase or a solicitation of an offer to sell any securities. The Tender Offer is being made solely pursuant to the terms of the Offer to Purchase. The Company may amend, extend or terminate the Tender Offer in its sole discretion. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws of such jurisdiction.

Forward-Looking Statements

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

United Kingdom

The communication of this press release and any other documents or materials relating to the Tender Offer is not being made and such documents and/or materials have not been approved by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000 (“FSMA”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) those persons who are existing members or creditors of the Company or other persons within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and (2) to any other persons to whom these documents and/or materials may lawfully be communicated.

European Economic Area (EEA)

In any European Economic Area (EEA) Member State (the “Relevant State”), this press release is only addressed to and is only directed at qualified investors in that Relevant State within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017, as amended (the “Prospectus Regulation”). Each person in a Relevant State who receives any communication in respect of the Tender Offer contemplated in this press release will be deemed to have represented, warranted and agreed to and with each Dealer Manager and the Company that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.

United States (for the 2023 Notes only)

Each Holder of 2023 Notes participating in the Tender Offer will represent that it is not participating in the Tender Offer from the United States (including its territories and possessions), that it is participating in the Tender Offer in accordance with Regulation S under the U.S. Securities Act of 1933, as amended and that it is not a U.S. person or it is acting on a non-discretionary basis for a principal located outside the United States (including its territories and possessions) that is not giving an offer to participate in the Tender Offer from the United States (including its territories and possessions) and who is not a U.S. person.

About TechnipFMC

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

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

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

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

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

Investor relations

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

Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
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Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
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FreeWire’s updated Boost Charger is 25% faster and available today; new state-of-the-art R&D center to support the development & scale-up of its battery-integrated charging technology and energy management services

NEWARK, Calif.--(BUSINESS WIRE)--#BatteryStorage--FreeWire Technologies has announced the launch of the Boost Charger™ 150, an update to its flagship battery-integrated ultrafast electric vehicle (EV) charger that improves charging speeds by 25%, while still requiring no utility upgrades. The news coincides with the groundbreaking of FreeWire’s new research and development (R&D) facility in Newark, California. The facility will enable acceleration of new ultrafast charging and energy storage product offerings, and support FreeWire’s growth following a year of exceptionally strong demand. Construction of the state-of-the-art 66,000-square-foot research, manufacturing, and testing facility is underway and will be fully operational by Summer 2022, putting FreeWire at the center of the San Francisco Bay Area’s transportation technology hub.

FreeWire offers the only commercially available battery-integrated fast EV charging solution in the U.S. Due to its innovative design, the Buy America compliant Boost Charger 150 utilizes existing grid infrastructure, reducing deployment timeframes to days instead of months and lowering EV charging energy costs by up to 70%. EV drivers are able to receive 100 miles of range in just 10 minutes, and two cars can charge simultaneously.

The new center will house cutting-edge testing and development facilities and serve as FreeWire’s California headquarters, providing hundreds of high-quality jobs across manufacturing, engineering, and operations.

“With this investment we are doubling down on solving barriers to mass EV charging deployment, developing features that will improve people’s lives today and enable a more resilient electric grid in the future,” stated FreeWire Founder and CEO Arcady Sosinov. “The launch of our Boost Charger 150 is another exciting milestone for the company with best-in-class power conversion technology providing higher power output and increased efficiency.”

The Boost Charger’s upgrade from 120kW to 150kW with more power output and no change to the current footprint was enabled through the company’s development of highly efficient silicon carbide power converters. The modular DC-to-DC converters provide 99% efficiency and enable the Boost Charger to dynamically manage power output by shifting power from one vehicle as its battery is near full to another vehicle that is just beginning to charge.

The Boost Charger is the first technology of its kind to be certified under both EV safety charging standards and energy storage standards. FreeWire’s proprietary lithium-ion battery pack is certified to UL1973, while the rest of the system is certified to UL2202, UL2231-1, UL2231-2, and UL991. This suite of safety certifications ensures that all FreeWire products have undergone extensive third-party testing & validation and that the company’s supply chain and manufacturing processes have met rigorous quality standards.

About FreeWire Technologies

FreeWire’s turnkey power solutions deliver energy whenever and wherever it is needed for reliable electrification beyond the grid (see video). With scalable clean power that moves to meet demand, FreeWire customers can tackle new applications and deploy new business models without the complexity of upgrading traditional energy infrastructure.

FreeWire has deployed battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. In addition to its partnership with bp pulse, FreeWire and ampm, a bp subsidiary and convenience store chain with over 1,000 locations, have already deployed multiple public charging stations in the U.S. FreeWire’s regulatory affairs and policy team keeps customers up to date on federal, state, and utility incentive opportunities, which in some cases cover up to 80% of the cost of the charging station, and the company recently announced that the Boost Charger is Buy America compliant. Learn more at www.freewiretech.com and follow us @FreeWireTech.

Laurie Peters
Director, Marketing Communications
FreeWire Technologies
818-635-4101
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Cory Ziskind
ICR
646-277-1232
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Annual competition recognizes the best in marine equipment design

OLATHE, Kan.--(BUSINESS WIRE)--Garmin^® International, Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), the world’s largest¹ and most innovative marine electronics manufacturer, today announced that its Surround View Camera System, the marine industry’s first intelligent camera system to offer a live 360-degree birds-eye view of a vessel, was selected as a category winner in the 2021 DAME Design Awards. Surround View received top honors in the ‘Marine Electronics and Marine Related Software’ category at this year’s METSTRADE Show, the world’s largest trade exhibition of marine equipment, materials and systems, held Nov. 16-18 in Amsterdam.

The 2021 DAME Awards competition drew 103 entries from 25 countries. From there, a jury of industry and design experts and media representatives selected 53 “nominee” products before awarding top honors by category to products that represented excellence in every facet of product design—from ease of use, functionality and aesthetics, to environment and innovation.

“Surround View raises the bar for marine camera technology, and we’re honored to be selected as a DAME Design Award category winner,” said Dan Bartel, Garmin vice president of global consumer sales. “By blending great design with innovative technology, Surround View delivers unprecedented situational awareness and convenience on the water. This award is a testament to the relentless efforts of our team to make boating more enjoyable for everyone.”

A breakthrough in video guidance for recreational boating and yachting, the Surround View Camera System integrates six through-hull mounted cameras that capture a 360-degree bird’s-eye view of the vessel during low-speed maneuvers, such as docking in a tight spot or navigating crowded marinas. Designed for a broad range of boats, the Surround View cameras have a low profile for OEM factory-installed through-hull mounting that blends functionality with streamlined aesthetics.

Designed to help take the guess work out of docking, Surround View maximizes visibility and minimizes blind spots by displaying a stitched image with 360-degree real-time video views from around the vessel directly to compatible Garmin chartplotters or multi-function (MFD) helm displays. Thanks to Surround View’s augmented reality Visual Bumper and Distance Markers features, captains can quickly and easily maneuver the vessel with increased situational awareness and to help avoid collisions.

Surround View is available now on new builds from Garmin’s boatbuilding partners. A compatible Garmin chartplotter or MFD, including the GPSMAP^® 8400/8600, GPSMAP 7x3/9x3/12x3 series or the Volvo Penta Glass Cockpit System, is required. To learn more about Surround View, visit garmin.com/SurroundView.

Engineered on the inside for life on the outside, Garmin products have revolutionized life for anglers, sailors, mariners and boat enthusiasts everywhere. Committed to developing the most sophisticated marine electronics the industry has ever known, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For the seventh consecutive year, Garmin was recently named the Manufacturer of the Year by the National Marine Electronics Association (NMEA). Other Garmin marine brands include Fusion^® and Navionics^®. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, email This email address is being protected from spambots. You need JavaScript enabled to view it., or follow us at facebook.com/garmin, twitter.com/garminnews, instagram.com/garmin, youtube.com/garmin or linkedin.com/company/garmin.

¹ Based on 2020 reported sales.

About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, GPSMAP, Fusion, Navionics are registered trademarks of Garmin Ltd. or its subsidiaries.

Notice on Forward-Looking Statements:

This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 26, 2020, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Carly Hysell
913-397-8200
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TORONTO--(BUSINESS WIRE)--Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart buildings and cities through IoT, Cloud and SaaS technology, today announced that management will present at the Benchmark Company Discovery One-on-One Virtual Investor Conference on December 2, 2021, and the SNN Network Canada Virtual Event taking place December 7-9, 2021.

Paul Ghezzi, CEO of Kontrol, will participate in virtual one-on-one meetings throughout the events and is scheduled to present as follows:

Benchmark Company Discovery One-on-One Virtual Investor Conference
Date: Thursday, December 2, 2021
Time: 8:00 a.m. – 4:30 p.m. Eastern Time
Available for One-on-One Meetings

SNN Network Canada Virtual Event 2021
Date: Wednesday, December 8, 2021
Time: 3:00 p.m. Eastern Time
Webcast: Virtual Presentation

To schedule a one-on-one meeting or for more information, please register for the SNN Network Canada Virtual Event here or contact the Benchmark Company conference coordinators at This email address is being protected from spambots. You need JavaScript enabled to view it..

About The Benchmark Company Discovery Conference

The Annual Benchmark Company Discovery Conference is hosted by The Benchmark Company, a boutique investment banking firm headquartered in New York, with regional offices across the country. Benchmark provides Research, Sales, Trading, and Investment Banking services to public and private companies, institutional and high net worth investors, and family offices. The conference is regularly attended by more than 150 institutional investors and will feature approximately 50 presenting companies.

About SNN Network

SNN Network is your multimedia financial news platform for discovery, transparency and due diligence. This is your one-stop hub to find new investment ideas, check in on watchlist, gather the most up-to-date information on the Small-, Micro-, Nano-Cap market with the goal to help you towards achieving your wealth generation goals. Follow the companies YOU want to know more about; read and watch content from YOUR favorite finance and investing influencers; create YOUR own watchlist and screen for ideas YOU'RE interested in; find out about investor conferences YOU want to attend - all here on SNN Network.

About Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com.

https://facebook.com/kontroltechcorp/
https://twitter.com/kontrolgroup
https://www.linkedin.com/company/kontrol-group

Kontrol Technologies Corp.
This email address is being protected from spambots. You need JavaScript enabled to view it.
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: 905.766.0400, Toll free: 1.844.566.8123

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.

However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company's product and service offering as expected; and government and regulatory factors impacting the energy conservation industry.

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

Investor Relations:
Brooks Hamilton
MZ Group – MZ North America
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Tel: +1 (949) 546-6326

World-Class Project Diversifies Portfolio by Adding Blue Carbon Credits

TORONTO--(BUSINESS WIRE)--$NETZ #NETZ--Carbon Streaming Corporation (NEO: NETZ) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to confirm that it has closed the previously announced blue carbon credit streaming agreement with MarVivo Corporation for the MarVivo Blue Carbon Conservation Project (“MarVivo Project”) in Magdalena Bay, Mexico. This marks the third carbon credit stream across three continents, each in various stages of development, and exemplifies the kind of breadth the Company seeks in developing a diversified portfolio of high-quality carbon credits.

Transaction Highlights:

• Upfront cash investment of US$6 million (“Upfront Deposit”), with US$2.0 million initial investment into MarVivo Corporation, paid in cash on closing, followed by four separate US$1.0 million investments at specific project milestones during development, implementation, validation and verification by Verra.
• Upon payment of the Upfront Deposit, Carbon Streaming will have the right to purchase the greater of 200,000 credits or 20% of the annual verified carbon credits from the MarVivo Project each year.
• In addition to the Upfront Deposit, the Company will make ongoing payments to MarVivo Corporation for each carbon credit sold under the carbon stream.
• The first delivery of carbon credits is expected to occur in the first half of 2023.

“We are thrilled to have closed this investment into the exceptional MarVivo Project, our first of many blue carbon credit projects to come,” explained Carbon Streaming’s CEO Justin Cochrane. “We remain focused on executing our ambitious plans to move extraordinary carbon credit projects from pipeline to portfolio to production, protecting these beautiful marine ecosystems and the surrounding communities that depend upon them while fighting climate change.”

As detailed in the May 17, 2021 news release, the Company intends to invest US$6 million to implement the proposed MarVivo Project in Baja California Sur, Mexico, focused on the conservation of mangrove forests and their associated marine habitat. The project is anticipated to be one of the largest blue carbon conservation projects in the world and once implemented will reduce estimated emissions by 26 million tonnes of carbon dioxide equivalent (CO₂e) over 30 years by conserving and sustainably managing approximately 22,000 hectares of mangroves and 137,000 hectares of its marine environment across Baja’s largest mangrove forest.

More information on the MarVivo Blue Carbon Project can be found on the project’s website here.

About the MarVivo Blue Carbon Conservation Project

The MarVivo Blue Carbon Conservation Project is being developed by Fundación MarVivo Mexico, A.C. and MarVivo Corporation in partnership with Mexico’s National Commission for Protected Natural Areas (CONANP). The non-profit group NAKAWE Project and the local communities of San Carlos (population ~5,000) and Lopez Mateos (population ~3,000), are also involved in the project. It is anticipated that the project will be certified through the Verified Carbon Standard (VCS), the Climate, Community & Biodiversity Standard (CCB) and the Sustainable Development Verified Impact Standard (SDVista), all of which are administered by Verra.

About Carbon Streaming Corporation

Carbon Streaming is a unique ESG principled investment vehicle offering investors exposure to carbon credits, a key instrument used by both governments and corporations to achieve their carbon neutral and net-zero climate goals. Our business model is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits.

The Company invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. Many of these projects will have significant social and economic co-benefits in addition to their carbon reduction or removal potential.

To receive corporate updates via e-mail as soon as they are published, please subscribe here.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements and forward-looking information (collectively, ‘forward-looking information’) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements and figures with respect to the estimation of future carbon credit generation and GHG emission reductions at the MarVivo Project; expected certification standards; and future carbon investments) are forward-looking information. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: general economic, market and business conditions and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of September 27, 2021 filed on SEDAR at www.sedar.com.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

ON BEHALF OF THE COMPANY:
Justin Cochrane, Chief Executive Officer
Tel: 647.846.7765
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www.carbonstreaming.com

Advisory Role Will Provide PG&E Corporation’s CEO, CFO and Executive Leadership Team with Business-Critical Advice for Future Growth

SAN FRANCISCO--(BUSINESS WIRE)--PG&E Corporation (NYSE: PCG) announced that Thomas Webb, a utility industry executive with more than 40 years of experience, will serve as a senior advisor to the company, effective today. Mr. Webb will provide PG&E Corporation’s Chief Executive Officer Patti Poppe, Chief Financial Officer Chris Foster and the executive leadership team with business-critical advice focused on driving stakeholder value, maximizing the company’s value proposition and financial strength, and enhancing shareholder engagement.

“Drawing on his extensive experience as a CFO in our industry, Tom has an outstanding track record and clear passion for helping utilities strategically strengthen relationships with customers, investors, and financial analysts,” said Ms. Poppe.

“We know that Tom’s support will be invaluable as PG&E works to deliver consistent and sustainable returns for investors who in turn fund the safety and infrastructure improvements to our system that are necessary for us to deliver safe, reliable and clean energy to our customers,” said Mr. Foster.

Mr. Webb served as CMS Energy’s and Consumers Energy’s Executive Vice President and CFO from 2002 to 2017 and has had a distinguished and highly successful career across four decades. In addition, Mr. Webb was responsible for CMS Enterprises, which encompasses all of CMS Energy’s businesses outside of the Michigan utility. Mr. Webb was most recently a senior advisor to CenterPoint Energy.

“It is a privilege to work with Patti, Chris and the rest of the outstanding management team at PG&E to help them serve their customers and investors alike,” said Webb of his new role.

About PG&E Corporation

PG&E Corporation (NYSE: PCG) is a holding company headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. For more information, visit http://www.pgecorp.com. In this press release, they are together referred to as “PG&E.”

Investor Relations Contact: 415.972.7080 | Media Inquiries Contact: 415.973.5930 | www.pgecorp.com

Joint action agency continues to stabilize and reduce wholesale power rates for Colorado communities

DENVER & LAMAR, Colo.--(BUSINESS WIRE)--Today, the Arkansas River Power Authority (ARPA) announced the selection of Guzman Energy as a wholesale power supplier to the agency. ARPA supplies reliable wholesale electric power to the Colorado communities of Holly, La Junta, Lamar, Las Animas, Springfield, and Trinidad. The announcement follows a competitive review of service provider proposals.

“We wanted a wholesale power supplier capable of providing us with stable, long-term competitive pricing, as well as the flexibility to self-supply renewable energy,” said Rick Rigel, ARPA General Manager. “We selected Guzman Energy because they provided the competitive pricing, reliability and service commitment necessary to best serve our communities.”

With this agreement, ARPA will benefit from predictable, fixed wholesale power pricing that the Authority believes will result in lower wholesale power rates for their member communities when the contract becomes effective in 2025. The contract is a full-service agreement that provides transmission and scheduling agent services in addition to power supply. Guzman Energy has also committed to sponsoring a community fund as part of their supplier relationship with ARPA. The power agreement covers an 18-year term beginning February 1, 2025, through 2043.

“Rick Rigel and the ARPA Board have worked hard on their long-term plan to stabilize and reduce rates for the ARPA membership,” said Jeffrey Heit, Principal, Managing Director at Guzman Energy. “Guzman Energy proudly serves more cooperatives, municipalities and tribes in the Rocky Mountain West than any other independent wholesale power supplier, and with today’s news, we’re proud to be part of ARPA’s efforts to offer lower cost, better power solutions to the communities they serve.”

About Arkansas River Power Authority (ARPA)

ARPA provides wholesale electricity to its Colorado member communities of Holly, La Junta, Lamar, Las Animas, Springfield, and Trinidad. ARPA was formed and is owned by the communities it serves. Through its six member communities, ARPA serves approximately 17,000 customers over a five-county area in Southeast Colorado. ARPA is headquartered in Lamar, Colorado. Visit arpapower.org.

About Guzman Energy

Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies, and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. Visit guzmanenergy.com.

Contact ARPA:
Rick Rigel
General Manager, Arkansas River Power Authority
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Contact Guzman Energy:
Jill Petersen, Fitzgerald Petersen Communications
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Growth fueled by increased energy demand associated with accelerating EV adoption; to be realized through backlog conversion, organic growth, expansion into new geographic markets and consumer demand

WILLISTON, Vt.--(BUSINESS WIRE)--$isun #cleanenergy--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience in solar, electrical and data services, today announced its earnings outlook for FY2022.

Highlights:

• iSun’s execution of its Strategic Plan projected to generate $165 million in revenue across its four segments.
• Residential Division forecasts $45 million, with gross margins between 25% and 30%.
• Commercial Division forecasts $15 million, with gross margins between 16% and 20%.
• Industrial Division forecasts $55 million, with gross margins between 15% and 18%.
• Utility Division forecasts $50 million, with gross margins between 15% and 18%.

“In 2022, we will begin to transition from the development of our platform to its deployment,” commented iSun Chief Executive Officer Jeffrey Peck. “As we do, we will begin providing guidance on each of these four distinct segments for the first time. While the practice is new for us, the principle is not. We have a 50-year legacy of delivering complex, technologically advanced projects on-time and on budget; we have earned a reputation as a reliable, trusted partner accordingly. We’re proud to extend the legacy of serving our customers to our shareholder base.”

iSun forecasts 2022 revenues of $165 million across its Residential, Commercial, Industrial and Utility segments, with an aggregate gross margin between 18% and 21%. iSun anticipates achieving these targets through a combination of organic growth, geographic expansion, continued execution of its project backlog and consumer demand.

Residential.

SunCommon, iSun’s Residential Brand, forecasts $45 million in revenue with gross margins between 25% and 30%. Contributing factors to this guidance include:

• Current demand of $22.1 million. SunCommon maintains current customer demand (projects expected to be completed within the next 4-6 months) of $22.1 million.
• SunCommon’s low cost of customer acquisition (CAC). SunCommon’s reported CAC of $0.36 / Wdc are less than half than the industry average of $0.75 / Wdc¹.
• Organic growth in SunCommon’s core Vermont and Hudson Valley NY markets.
• Expansion growth across the East Coast. SunCommon anticipates expanding into complementary markets across the East Coast.

Commercial.

iSun’s Commercial Division forecasts $15 million in revenue, with gross margins between 16% and 20%. Contributing factors to this guidance include:

• Current demand of $9.6 million. SunCommon maintains current customer demand (projects expected to be realized within the next 4-6 months) of $9.6 million.
• Accelerated consumer demand for EVs. iSun anticipates accelerating consumer demand for EVs to increase adoption of both solar and EV charging solutions for destination consumer businesses.
• Organic growth in SunCommon’s core Vermont and Hudson Valley NY markets.
• Expansion growth across the East Coast. SunCommon anticipates expanding into complementary markets across the East Coast.

Industrial.

iSun’s Industrial Division forecasts $55 million in net revenue, with gross margins between 15% and 18%. Contributing factors to this guidance include:

• Current backlog of $80.7 million. iSun currently maintains an $80.7 million backlog of projects expected to be completed within the next 12-18 months.
• Organic expansion in iSun’s core Northeast territory.
• Strategic expansion into new markets with development partners. iSun expects to enter new geographic markets through its long-standing relationships with select development partners.
• Realization of projects provided through iSun’s Development and Professional services pipeline. iSun maintains the rights to EPC work for 118MW of projects currently in development through agreements structured through iSun’s Development and Professional services team.

Utility.

iSun’s Utility Division forecasts $50 million in revenue with gross margins between 15% and 18%. Contributing factors to this guidance include:

• Accelerating demand for solar resulting from EV adoption. Increasing solar energy demand across all sectors is driving utility scale development and demand for iSun’s EPC services.
• Realization of projects provided through iSun’s Development and Professional Services pipeline. iSun maintains EPC rights for 448MW of projects in Alabama, the first of which is expected to commence in Q3 2022.

iSun continues to explore strategically relevant, immediately accretive M&A opportunities. This guidance does not account for any such opportunities or transactions. iSun will provide updated guidance in the event of a transaction accordingly.

“We went public in 2019 to realize our vision of creating a platform capable of accelerating adoption for solar across all segments of the marketplace – residential, commercial, industrial, and utility,” continued Peck. “We’ve created a platform that does just that. In addition, our platform will also help accelerate the adoption of EVs. Not every EV owner will be able to install a charger at their home or have access to chargers at the places they work, or the businesses they frequent. By improving access to EV charging at scale across all segments, iSun is helping ensure that members of all communities will have access to EV adoption.”

About iSun Inc.

Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

¹ US RESIDENTIAL PV CUSTOMER ACQUISITION COSTS AND TRENDS 2021, Wood Mackenzie Power & Renewables, October 2021

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