• On July 1, 2021, EVgo completed its business combination with Climate Change Crisis Real Impact I Acquisition Corporation (“CRIS”), resulting in net cash of $573 million to fund its strategic plan
• Strong revenue quarter, with a 16% increase quarter-over-quarter
• Customers topped 275,000 as electric vehicle (“EV”) adoption pace accelerates
• Charger stall count through June 30, 2021 totals 1,548, as EVgo added 104 new operational stalls in the second quarter of 2021 while continuing to execute on its active engineering and construction pipeline (the “Active E&C Pipeline”) of more than 2,000 charger stalls
• Other recent highlights include the expansion of EVgo’s commercial relationship with General Motors (NYSE: GM) (“GM”), continued kilowatt-hour (kWh) throughput growth from partnerships with autonomous vehicle (“AV”) companies, the acquisition of Recargo, Inc. (“Recargo”), and sustained focus on technological leadership, underscored by the work at the EVgo Innovation Lab

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (Nasdaq: EVGO) (“EVgo” or the “Company”) today announced results for the second quarter ended June 30, 2021. Revenue increased to $4.8 million for the second quarter of 2021, compared to $4.1 million for the first quarter of 2021. The Company is seeing increased revenue due to overall increases in EV adoption, uptake of EVgo’s products and offerings, and a customer count now exceeding 275,000, all resulting in a significant growth in network throughput.

“The second quarter of 2021 witnessed growth across all of EVgo’s customer segments, deepening relationships with our core partners, new customer offerings, and cultivation of new business opportunities as the transition to electric vehicles gains momentum,” said Cathy Zoi, CEO of EVgo. “We added a record number of customers, almost doubled our quarterly stall build-out compared to last quarter, and significantly accelerated investments associated with charger stall build-out looking forward. EVgo’s mission to speed the adoption of electric vehicles through the investment in charging infrastructure is progressing at an accelerating pace. Our build-own-operate business model has equipped EVgo with the experience and insight to be a market leader and to be a provider of first resort to the rapidly expanding EV market.”

Business Highlights

During the second quarter of 2021, EVgo placed 104 new charging stalls in service, with more than 2,000 additional charger stalls in the Active Engineering and Construction (“E&C”) Pipeline. Roughly 85% of the Active E&C pipeline stalls are located within the top 20 U.S. metropolitan markets and the majority are part of EVgo’s partnership with GM to deploy over 2,700 fast charging stalls by 2025.

In July 2021, EVgo was chosen by GM to serve as a preferred charging provider for its Ultium Charge 360 Fleet service. Additionally, EVgo and Chevrolet launched a new retail program enabling buyers and lessees of new Bolt EV and Bolt EUV vehicles to elect to receive a $500 EVgo charging credit or have a home Level 2 charger installation supported by Chevrolet.

As of the end of second quarter of 2021, EVgo has contracted with two leading AV companies to provide each with dedicated fast charging services under contract structures which include take-or-pay arrangements for their high mileage vehicles, generating network usage and reducing risk for both parties as the self-driving market continues to expand.

Also in July 2021, EVgo announced that it acquired leading e-mobility software company Recargo. Recargo, through its platform PlugShare, offers crowdsourced reviews, photos, and data to help the EV community understand customer needs. PlugShare currently has 1.6 million users and 3.3 million global downloads of the PlugShare app, and coverage of more than 61,000 L2 and DCFC charging stations and over 163,000 charging ports in North America alone. This acquisition is a strategic and logical extension of the efforts already well underway at EVgo – accelerating overall EV adoption by improving driver experiences, enhancing the interconnectedness of the charging ecosystem, and providing data to automakers and other key stakeholders to help move the EV community forward in terms of convenience, availability, and service.

EVgo continues to expand on its technical leadership in the transportation electrification sector and, as part of this effort, launched the EVgo Innovation Lab in April 2021 to test, validate, and certify charging equipment for customer experience, performance, and safety. The EVgo team at the lab works with automobile and charger original equipment manufacturers to evaluate new products and share insights. The EVgo Innovation Lab also designs, prototypes, and tests new hardware and EVgo’s own charger management software tools and user interfaces for both public and fleet applications.

Financial & Operational Highlights

For the avoidance of doubt, these figures reflect the results for the quarter ended June 30, 2021 of EVgo HoldCo, LLC, a subsidiary of EVgo, prior to completion of the business combination with CRIS on July 1, 2021.

• Revenue of $4.8 million
• Network throughput of 6.1 Gigawatt-hours (GWh)
• Customer Accounts added of 34,618
• Charger stalls in operation: EVgo placed 104 new charger stalls into service during the second quarter, raising its total charger stalls in operation to 1,548, as of June 30, 2021
• Gross Loss of $2.8 million
• Net Loss of $18.4 million
• Adjusted Gross Loss of $61 thousand
• Adjusted EBITDA of $(11.0) million
• Cash Flow from Operations of $(1.4) million for the six months ended June 30, 2021
• Capital Expenditures of $23.3 million for the six months ended June 30, 2021
  
  

  ($ in 000s)			Q2'21			Q1'21			Q2'20
  Network Throughput (GWh)			6.1			4.1			2.7
  Revenue		$	4,783		$	4,130		$	2,957
  GAAP COGS		$	(7,549)		$	(6,740)		$	(5,916)
  GAAP Gross (Loss)		$	(2,765)		$	(2,609)		$	(2,959)
  GAAP G&A Expenses		$	(12,247)		$	(11,073)		$	(6,796)
  GAAP Net (Loss)		$	(18,421)		$	(16,610)		$	(10,406)
  Adj. Gross (Loss) 1		$	(61)		$	(162)		$	(711)
  Adj. Gross Margin1			(1.3)%			(3.9)%			(24.0)%
  Adj. EBITDA1		$	(11,009)		$	(9,779)		$	(5,033)
  Adj. EBITDA Margin1			(230.2)%			(236.8)%			(170.2)%

   

  			H1'21				H1'20
  Cash flow from operations		$	(1,357	)		$	(15,757	)
  Cash flow from investing		$	(23,341	)		$	(7,734	)

EVgo realized 48% quarter-over-quarter sequential growth in kilowatt-hour (kWh) network throughput during the second quarter of 2021 and 126% growth year-over-year.

Revenue exhibited similar growth trends, with 16% quarter-over-quarter sequential growth during the second quarter of 2021.

Adjusted Gross Margin for the second quarter of 2021 improved 260 basis points to (1.3%) from (3.9%) in the first quarter of 2021 due to lower energy costs per kWh as a result of improved leveraging of demand charges, which are part of our energy tariffs.

GAAP General & Administrative Expenses increased to $12.2 million in the second quarter of 2021 compared to $11.0 million in the first quarter of 2021 and $6.8 million in the second quarter of 2020. The increase is in line with EVgo’s expectations, and primarily driven by the Company’s ongoing growth investments.

Adjusted EBITDA Margin in the second quarter of 2021 was ($11) million compared to ($9.8) million in the first quarter of 2021.

EVgo realized an increase of $14.4 million in cash flow from operations in the first half of 2021 as compared to the first half of 2020 from $(15.8) million to $(1.4) million owing in part to a $20 million pre-payment from OEM partners in the first quarter of 2021.

Capital expenditures in the first half of 2021 more than tripled to $23.3 million from $7.7 million, as EVgo is actively executing on its charger stall build plan.

2021 Guidance

EVgo is affirming its prior financial forecast for full year 2021 of $20 million in revenues, 24 gigawatt-hours of network throughput, and ($58) million in Adjusted EBITDA.

Conference Call Information

A live audio webcast and conference call for our second quarter 2021 earnings release will be held at 11:00 AM ET / 8:00 AM PT on August 11, 2021. The webcast will be available at investors.evgo.com, and the dial-in information for those wishing to access via phone is:

Toll Free: 1-877-407-4018
Toll/International: 1-201-689-8471
Conference ID: 13722018

This press release, along with other investor materials, including a slide presentation and reconciliations of certain non-GAAP measures to their nearest GAAP measures, will also be available on that site.

About EVgo

EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 275,000 customers. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on management’s current expectations or beliefs and are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to, express or implied statements regarding EVgo’s future financial performance, revenues and capital expenditures, EVgo’s expectation of acceleration in our business due to factors including a re-opening economy and increased EV adoption; and the Company’s strong liquidity position enabling effective deployment of chargers. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of EVgo’s management and are not predictions of actual performance. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: changes or developments in the broader general market; ongoing impact from COVID-19 on our business, customers, and suppliers; macro political, economic, and business conditions; our limited operating history as a public company; our dependence on widespread adoption of EVs and increased installation of charging station; mechanisms surrounding energy and non-energy costs for our charging stations; the impact of governmental support and mandates that could reduce, modify, or eliminate financial incentives, rebates, and tax credits; supply chain interruptions; impediments to our expansion plans; the need to attract additional fleet operators as customers; potential adverse effects on our revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by us; the effects of competition; risks related to our dependence on our intellectual property; and risks that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations of EVgo” in EVgo’s registration statement on Form S-1 originally filed with the Securities and Exchange Commission (the “SEC”) on July 20, 2021, as well as its other filings with the SEC, copies of which are available on EVgo’s website at investors.evgo.com, and on the SEC’s website at www.sec.gov. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

Use of Non-GAAP Financial Measures

To supplement EVgo’s financial information, which is prepared and presented in accordance with GAAP, EVgo uses certain non-GAAP financial measures. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. EVgo uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. EVgo believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of EVgo’s recurring core business operating results.

EVgo believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing EVgo’s performance. These non-GAAP financial measures also facilitate management’s internal comparisons to the Company’s historical performance. EVgo believes these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by EVgo’s institutional investors and the analyst community to help them analyze the health of EVgo’s business.

For more information on these non-GAAP financial measures, including reconciliations to the most comparable GAAP measures, please see the sections titled “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures” included at the end of this release.

Definitions of Non-GAAP Financial Measures

This press release includes the non-GAAP financial measures: “Adjusted COGS,” “Adjusted Gross Profit (Loss),” “Adjusted Gross Margin,” “EBITDA,” “Adjusted EBITDA”. EVgo believes these measures are useful to investors in evaluating EVgo’s financial performance. In addition, EVgo uses these measures internally to establish forecasts, budgets, and operational goals to manage and monitor its business. EVgo believes that these non-GAAP financial measures help to depict a more realistic representation of the performance of the underlying business, enabling EVgo to evaluate and plan more effectively for the future. EVgo believes that investors should have access to the same set of tools that its management uses in analyzing operating results.

Adjusted COGS is defined as cost of goods sold before: (i) depreciation and ARO accretion, (ii) stock option expense, and (iii) other non-recurring expenses. Adjusted Gross Profit (Loss) is defined as Gross Profit (Loss) less (i) depreciation and ARO accretion, (ii) stock option expense, an (iii) other non-recurring expenses. Adjusted Gross Margin is defined as Adjusted Gross Profit (Loss) as a percentage of revenue. EBITDA is defined as net income (loss) before (i) interest expense, (ii) income taxes and (iii) depreciation and amortization. Adjusted EBITDA is defined as EBITDA plus other unusual or nonrecurring income (expenses) such as bad debt expense. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue. Adjusted COGS, Adjusted Gross Profit (Loss), Adjusted Gross Margin, EBITDA, and Adjusted EBITDA are not prepared in accordance with GAAP and that may be different from non-GAAP financial measures used by other companies. These measures should not be considered as measures of financial performance under GAAP, and the items excluded from or included in these metrics are significant components in understanding and assessing EVgo’s financial performance. These metrics should not be considered as alternatives to net income (loss) or any other performance measures derived in accordance with GAAP.

Reconciliations of Non-GAAP Measures

Financial Statements

EVgo
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Multi-year Agreement with Brookfield Renewable U.S. Includes Services for M&A and Capital Financing Activities

MINNEAPOLIS--(BUSINESS WIRE)--Datasite®, a leading SaaS-based technology provider for global mergers and acquisitions (M&A) professionals, today announced that Brookfield Renewable U.S. (“Brookfield”), a leading owner, operator and developer of renewable power, has entered into a multi-year agreement to use Datasite’s services to support its capital transactions.

“Brookfield is among the nation’s largest renewable power providers, serving as a key source of electricity for driving sustainable growth in regional economies across the U.S.,” said Mark Williams, Datasite Chief Revenue Officer, Americas. “We’re excited to expand our support for Brookfield’s U.S. development activities with innovative software solutions that support their capital transactions.”

The agreement includes Brookfield’s use of Datasite Outreach™, Prepare™, Diligence™ and Acquire™ applications, which support M&A professionals in the management of due-diligence and post-merger integration. With offices in more than 20 global financial hubs, Datasite will provide Brookfield with local expertise and global experience.

“Datasite’s M&A cloud technology services bring value in supporting the execution of M&A, financing, and asset development activities,” said Rizwaan Sahib, Chief Technology Officer at Brookfield Renewable U.S. “We are pleased to extend our work with Datasite through this agreement.”

Dealmakers in more than 170 countries make their deals in Datasite, including 74 of the top 100 legal firms and all the top 20 global financial advisory firms. Additionally, Datasite’s customer service team is available to customers 24/7/365 in 18 languages.

To learn more about Datasite, please visit: www.datasite.com

About Datasite

Datasite is a leading SaaS (software as a service) provider for the M&A industry, empowering dealmakers around the world with the tools they need to succeed across the entire deal lifecycle. For more information, visit www.datasite.com

Laura Powers
Datasite
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5W Public Relations
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The transaction enhances the EV charging leader’s position in fleet with a visionary team, customers and technology

AMSTERDAM & CAMPBELL, Calif.--(BUSINESS WIRE)--#Bethechange--ChargePoint Holdings, Inc. (NYSE:CHPT), a leading electric vehicle (EV) charging network operating in North America and Europe, today announced it acquired ViriCiti, a leading provider of electrification solutions for eBus and commercial fleets. ChargePoint acquired ViriCiti for a total purchase price of approximately €75 million in cash, subject to adjustments. The ViriCiti team, customer accounts and technology will become part of ChargePoint’s operations. Along with the pending acquisition of leading European e-mobility technology provider has·to·be, this transaction confirms ChargePoint’s commitment to the electrification of fleet and commercial segments in North America and Europe.

ViriCiti will enhance the ChargePoint fleet solution portfolio of hardware, software and services by integrating information sources to optimize electric fleet operations, including battery management, charging station monitoring, OEM-agnostic telematics, vehicle maintenance and vehicle operations data. The combined solution will enable fleets to identify what routes to electrify, monitor and report on uptime, optimize fueling to ensure operational readiness at low cost, and integrate vehicle and charging station management. Working with existing systems of record enables ChargePoint to deliver the most complete set of solutions for electric fleet operators, ensuring success from initial infrastructure buildout to optimization and growth.

Pasquale Romano, President and CEO of ChargePoint, said, “The future of fleets is electric, and integrating charging solutions with the many business systems already in place in today’s depots is essential to successful electrification. Adding ViriCiti’s vehicle management capabilities to our fleet portfolio allows ChargePoint to deliver more functionality to eBus and commercial fleet operators, while remaining open to integration with existing telematics systems. The combined solution underscores the importance of software to EV charging and will ensure operational readiness at low cost as fleets of all types across North America and Europe continue to electrify.”

Founded in 2012, ViriCiti today has more than 50 employees in the Netherlands and United States, and established market share in North America and Europe with approximately 150 fleet operators, 3,500 connected vehicles and 2,500 networked ports under management. ViriCiti customers include prominent fleet operators and OEMs, such as Arriva, Berliner Verkehrsbetriebe, Chicago Transit Authority, GILLIG, Keolis, King County Metro, Metropolitan Transit Authority (New York), PicNic, San Francisco Municipal Transportation Authority and Toronto Transit Commission.

Freek Dielissen, CEO of ViriCiti, said, “Our mission over the last nine years has been to help fleet operators manage their electric operations. Today, zero-emission transportation is at a tipping point, and we are excited to join EV charging leader ChargePoint, integrate our complementary offerings and tap into the resources that will enable the electrification of fleets at a faster pace across North America and Europe.”

Dr. Jose Serras-Pereira, Director – Advisory, Mobility Group, Frost & Sullivan, confirmed, “The need for efficient software tools to gather, analyze and recommend vehicle types, charging hardware, site energy requirements and other operational strategies has never been greater. Software, analytics and advisory are expected to be key portfolio components for any industry actor wishing to provide a holistic suite of electrification services in a B2B setting and help accelerate fleet electrification over the next decade. With this acquisition and their recently announced global fleet solution portfolio, which already includes a scalable EV charging platform with hardware, installation and fleet management services, ChargePoint is now well positioned to offer fleet managers large and small a full range of tools required to start planning and executing their electrification journeys."

Goldman Sachs & Co. LLC served as exclusive financial advisor to ChargePoint. IMPROVED Corporate Finance B.V. served as the exclusive M&A advisor to ViriCiti and its shareholders.

About ChargePoint

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 92 million charging sessions have been delivered, with drivers plugging into the ChargePoint network every two seconds or less. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint’s 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. press offices or This email address is being protected from spambots. You need JavaScript enabled to view it..

About ViriCiti

ViriCiti started in 2012 with a focus on electric buses and trucks and is now the market leader in the United States and Europe for public transit in North America and Europe, with thousands of buses and chargers connected to its platform. From energy management to maintenance, the ViriCiti online monitoring system provides in-depth insights tailored to each fleet’s needs. The company is working with over 150 vehicle OEMs and fleet operators across continents and aims to accelerate the adoption of electric vehicles by offering an all-in-one solution for full-electric and mixed fleets.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our commitment to the fleet and commercial segments, expectations and plans for growth, the expected benefits of the acquisition of ViriCiti to us, our leadership and market position, and our customers, and the expected impact of the acquisition on our offerings. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: developments and changes in the general market; the continuing impact of COVID-19, including in our business and those of our customers and suppliers; political, economic, and business conditions; our limited operating history as a public company; our ability as an organization to successfully integrate ViriCiti and acquire and integrate other companies, products or technologies in a successful manner; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales of charging stations for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions; our ability to expand in Europe; the need to attract additional fleet operators as customers; potential adverse effects on our revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by us; the effects of competition; risks related to our dependence on our intellectual property; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our quarterly report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on June 11, 2021, which is available on our website at investors.chargepoint.com and on the SEC's website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

CHPT-IR

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SAN JOSE, Calif.--(BUSINESS WIRE)--#IoT--As the Cloudleaf solution ecosystem continues to grow, Cloudleaf, Inc. and EyeSeal are pleased to announce their strategic partnership. Cloudleaf provides a SaaS digital intelligence platform that leverages IoT and digital twin technologies to bring enhanced solutions that deliver end-to-end supply chain visibility across the globe.

EyeSeal provides devices that enable full visibility and protection for container shipping assets. They make it possible to continuously capture data directly from cargo assets. This level of certainty makes it possible for EyeSeal to provide its customers with the most competitive integrated insurance, intervention and recovery services.

Together Cloudleaf and EyeSeal are providing organizations with the ability to capture data directly from cargo assets on the move. Cloudleaf’s ‘single source-of-truth’ intelligence platform captures EyeSeal’s tamper-proof device data to provide customers with real-time alerts and information. In addition to this immediate visibility, the Cloudleaf platform also connects this information to other critical supply chain systems. Managing custom workflows and business rules, this level of clarity ensures shipments are moving through the supply chain in a secure and timely manner.

"With EyeSeal, we created a solution to a problem we suffered first-hand. Our mission is to eliminate uncertainty from cargo transportation. Our devices keep a watchful eye on your cargo from the moment it is loaded all the way to its final delivery,” says EyeSeal’s CEO, Enrique Acosta. “To use a metaphor, EyeSeal is very much like a 'flight recorder' for shipping containers. This level of visibility makes it possible for our customers to benefit from assured insurance coverage and swift recovery services in the event of shipping incidents.”

“Supply chain disruption due to the pandemic and resource limitations in the supply chain sometimes start with something as simple as the shipment container. It’s location, safety, and traceability in periods of heightened disruption become critical, especially in cases of insurance,” says Cloudleaf’s Head of Partnerships, Ken Carpenter. “In the journey to achieve end-to-end supply chain transformation and automation, the blend of Cloudleaf, EyeSeal, and our growing digital ecosystem effectively and cost-efficiently use IoT as a means to further those goals.”

For more information, please go to www.cloudleaf.com and www.eye-seal.com.

About Cloudleaf

Cloudleaf powers next-generation digital supply chains with insights from ground truth and real-time decision-making. Our SaaS platform leverages hyper-scale cloud, digital twin, AI/ML, and IoT technologies to deliver continuous visibility and intelligence. We enable business leaders to make the right decisions in real-time to increase revenues, avoid disruptions, deliver better business outcomes, improve customer satisfaction and increase sustainability. For more information, visit: www.cloudleaf.com

About EyeSeal

EyeSeal's mission is to eliminate uncertainty from cargo transportation. EyeSeal's tamper-proof devices are installed inside shipping containers to keep a watchful eye on your cargo from the moment it is loaded all the way to its final delivery. The ability to capture data directly from cargo assets on the move makes it possible for EyeSeal to provide its customers with the most competitive integrated insurance, intervention and recovery services. For more information, visit: www.eye-seal.com

Mac Hess
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Marketing Programs Manager

First-to-market solution allows utility companies to package programs and services based on customer needs

Similar to Netflix model, Plus offers subscription energy giving customers a more personalized experience and predictable bills

BOULDER, Colo.--(BUSINESS WIRE)--Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem, today announced Plus, a new solution that bundles multiple utility programs into simple, personalized offers in a consumer-friendly digital experience, making it easy for customers to understand and enroll in beneficial energy and billing programs.

“Our customers seek more certainty around their energy bills, and we believe it’s important to be innovative in meeting our customers’ needs,” said Duke Energy Vice President, Rate Design and Strategic Solutions, Lon Huber. “Being able to offer subscription energy bundles through a tailored customer experience is paramount, and it further helps us meet critical goals around clean energy and reduced peak demand.”

“AES Indiana is focused on providing our customers with tools and resources that will help them achieve their most important objectives, including reliability, affordability and sustainability,” said Wendy Mehringer, AES Indiana Chief Customer Officer. “Through Plus, we are creating a more personalized experience that puts our customers in control of their energy use and billing.”

Uplight is the first utility partner to offer a subscription-based customer experience allowing customers to pay the same amount each month. Plus provides customers with a new level of clarity into their gas and electricity usage. From digital, fixed subscription payments to energy usage information and savings incentives, the personalized solution connects customers to the right programs at the right time with easy-to-understand options to enroll in plans that work best for them. To create the personalized energy bundles, Plus uses customer-provided feedback on offer types, information on utility program eligibility, and innovative propensity modeling tailored to individual customers.

Utilities have the ability to offer customers a unique and cohesive experience through Plus with:

• Subscription energy with a fixed bill amount
• Green energy options enabling customers to source some or all their energy needs from renewable sources
• Ability to purchase smart devices for their home
• Smart thermostat optimization via demand response
• Auto pay and E-Bill
• Ability to pay by credit card or their digital wallet (e.g., Apple Pay or Google Pay)
• Energy efficiency program enrollment
• Charitable contributions
• Offers from third-party providers in the broader clean energy ecosystem

Leading utilities including AES, Duke Energy, and others have already launched Plus as part of successful pilots.

• AES Indiana: AES Indiana is utilizing Plus as an app designed to deliver a mobile experience in a number of ways. Pending regulatory approval, customers can sign up in one step for a flat, monthly energy charge, get 100% renewable sourced energy, set up auto pay, and add a payment method in the form of a credit card, Apple Pay, or Google Pay. AES Indiana reached its initial enrollment goal for the Plus app of 2,000 residential customers in three months. The app helped increase customer enrollment for auto pay and budget billing by 26% and green energy program enrollment by 67%.
• Duke Energy: Duke Energy launched Plus in 2021 to pilot a subscription energy bundle with a 12-month fixed bill and smart thermostat optimization. The pilot seeks to measure customer satisfaction with a subscription energy experience and test whether smart thermostat optimization can offset any potential increases in energy usage from a flat rate.
• A Large Western Utility will be using Plus to help low-income residential customers easily make decisions, take actions, and track progress on their energy usage and costs.

“Our data shows utility customers want more engagement and less hassle with more predictable bills and access to relevant utility programs. In the age of Amazon, Netflix and Peloton, it makes sense for utilities to move to a smart subscription service model, tailoring customer experiences based on data,” said Jennifer Kinney, Chief Innovation Officer at Uplight. “This makes the energy consumption experience easier while eliminating the guesswork surrounding billing, energy usage and savings.”

Utilities interested in learning more about Plus can visit https://uplight.com/plus.

About Uplight

Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streamlining the complex transition to the clean energy ecosystem for more than 80 electric and gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with its clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedin.com/company/uplightenergy.

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Rivlin chose to join the wireless EV charging infrastructure provider in order to pursue his next mission: a war on global warming

BEIT YANAI, Israel--(BUSINESS WIRE)--#electricvehicles--ElectReon (TASE: ELWS.TA), the leading provider of in-road wireless electric vehicle (EV) charging technology, today announced that Reuven “Ruvi” Rivlin, Israel’s tenth President, has been named as the company’s president. This appointment comes after his term as Israel’s President came to an end in July of this year.

During his tenure as Israeli President, Rivlin strongly supported sustainability initiatives and fighting climate change. He also spoke out on setting achievable and clear targets for fighting global warming.

"After the pleasure of serving the people of Israel for the last seven years, I have decided to continue focusing on one of the world’s most critical issues: the conservation of our planet,” said Rivlin. “With ElectReon there is an incredible opportunity to decarbonize the transportation sector by growing a network of electrified roadways that will make EV ownership more attainable.”

As the leading provider of wireless charging solutions for EVs, ElectReon has developed a technology that fundamentally changes the way EVs are operated. By electrifying the road below the vehicle, EVs are able to charge while in motion or while stopped一meeting the needs and efficiency demands of drivers, eliminating range anxiety, lowering total costs of EV ownership, and reducing battery capacity needs.

As President of ElectReon, Rivlin will cultivate relationships with governments and companies around the world, particularly in the United Statesto increase the company’s footprint globally and continue to build out an international network of electrified roadways and wireless charging stations for bus, taxi and delivery fleets at their facilities. Currently, ElectReon is operating a series of active wireless charging road pilots and deployments in Sweden, Germany, Italy, and Tel Aviv.

“We are very excited about the joining of Ruvi, a leader of international stature, to the ElectReon team,” said Oren Ezer, CEO of ElectReon. “Together with his passion for green energy and ElectReon’s promise to accelerate EV adoption through accessible charging, we will help to create a better and more sustainable future for all.”

About ElectReon

ElectReon is the leading provider of wireless charging solutions for electric vehicles (EVs), providing end-to-end charging infrastructure and services to meet the needs and efficiency demands of shared, public and commercial fleet operators and consumers. The company’s proprietary inductive technology dynamically (while in motion) and statically (while stopped) charges EVs quickly and safely, eliminating range anxiety, lowering total costs of EV ownership, and reducing battery capacity needs—making it one of the most environmentally sustainable, scalable, and compelling charging solutions available today. ElectReon works with cities and fleet operators on a charging as a service (CaaS) platform that enables cost-effective electrification of public, commercial, and autonomous fleets for smooth and continuous operation. For more information, visit electreon.com.

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LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy Partners, LP (“TEP”) announced today that, subject to market conditions, it, along with Tallgrass Energy Finance Corp., a subsidiary of TEP, intend to offer $500 million aggregate principal amount of senior unsecured notes due 2031 in a private placement to eligible purchasers (the “Notes Offering”).

TEP intends to use the net proceeds of the Notes Offering, together with borrowings under its existing senior secured revolving credit facility, to fund a concurrent cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 5.50% Senior Notes due 2024 (the “2024 Notes”), and to redeem any 2024 Notes outstanding after completion of the Tender Offer. The Tender Offer is being made pursuant to an Offer to Purchase dated August 11, 2021.

The securities to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. TEP plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.

About Tallgrass Energy

Tallgrass Energy is a leading energy and infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.

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Joby Aviation, one of JetBlue Technology Ventures’ first sustainability-focused investments, is the first U.S.-based eVTOL company listed on the public markets

SAN CARLOS, Calif.--(BUSINESS WIRE)--JetBlue Technology Ventures (JTV), the corporate venture capital subsidiary of JetBlue Airways (NASDAQ:JBLU), today congratulates its portfolio company Joby Aviation, Inc. (Joby) on the completion of its merger with Reinvent Technology Partners (Reinvent), a special purpose acquisition company. The combined company is now listed on the New York Stock Exchange (NYSE) for public trading under the ticker symbols “JOBY” and “JOBY WS,” respectively.

“We’re incredibly proud of the Joby team for all of the hard work that led to this moment and look forward to following their success for years to come. Joby’s product will transform the way that people move about urban environments every day, and also solve rising traffic congestion and vehicle pollution within connected cities,” said Amy Burr, president of JetBlue Technology Ventures.

Joby is building a fully-electric vertical take-off and landing (eVTOL) passenger aircraft that it intends to operate for commercial use in the U.S. beginning in 2024. The piloted, four-passenger aircraft travels at speeds up to 200 miles per hour, flies 150 miles on a single charge, and will be significantly quieter than existing rotorcraft or small planes during takeoff and landing.

“Aviation connects the world in critically important ways, but today it does that at the expense of our planet. By taking Joby public we have the opportunity to drive a renaissance in aviation, making emissions-free flight a part of everyday life. This is our generation’s moonshot moment, and at Joby we’re proud to be leaning in,” said JoeBen Bevirt, founder and CEO at Joby.

JTV’s initial 2017 strategic investment in Joby aligns with its commitment to identify and invest in sustainable travel technology. In doing so, the subsidiary also aids JetBlue’s mission to become a sustainability leader. This announcement follows recent news that JetBlue is working in conjunction with Joby and Signature Aviation to ensure that the carbon markets for aviation include the generation of credits for flights powered by green electric and hydrogen propulsion technologies.

JTV continues to support Joby’s success via follow-on investments and assistance to help grow the company. JTV’s founder Bonny Simi joined Joby in December 2020 to serve as Joby’s Head of Air Operations and People to continue to guide the strategic direction of the company.

About JetBlue Technology Ventures

JetBlue Technology Ventures invests in and partners with early stage startups innovating in the travel, transportation, and hospitality industries. The company prioritizes investments that advance the seamless customer-centric journey; reimagine the accommodation experience; next-generation aviation operations and enterprise tech; distribution, loyalty, and revenue management; and sustainable travel. Founded in 2016, JetBlue Technology Ventures is a wholly-owned subsidiary of JetBlue (NASDAQ: JBLU) and is located in Silicon Valley, California. For more information, visit www.JetBlueVentures.com.

About Joby Aviation

Joby Aviation, Inc. is a California-headquartered transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning in 2024. The aircraft, which has a range of 150 miles on a single charge, can transport a pilot and four passengers at speeds of up to 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs more than 800 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington D.C. and Munich, Germany. To learn more, visit www.jobyaviation.com.

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GREENFIELD, Ind.--(BUSINESS WIRE)--The new Yamaha Marine Precision Propeller (YPPI) facility in Greenfield, Ind. reached full production capacity this July. The advanced casting facility and foundry uses state-of-the-art robotics to significantly reduce lead times and increase production by more than 67 percent, allowing YPPI to deliver more than 100,000 propellers to customers annually.

“It’s great to finally be firing on all cylinders in the Greenfield facility,” said Batuhan Ak, Plant Manager of YPPI Greenfield. “Propellers are part of the integrated systems that boats need today, and the new facility gives us the opportunity to leverage more efficient manufacturing technologies that increase quality while decreasing manufacturing costs.”

Yamaha acquired Precision Propellers, Inc. in 2008. The group, which is the sole manufacturer of stainless-steel propellers for Yamaha outboards in the U.S., broke ground on the 55,000 square foot building on five of 28 acres in July of 2019. Yamaha plans to further expand the YPPI campus in the future.

The Greenfield YPPI facility now houses the entire propeller casting operation while the YPPI location in Ritter, Ind. will serve as the manufacturer’s post casting and finishing facility. YPPI is one of only two marine propeller foundries in the U.S. and one of the largest stainless-steel investment casting foundries in the world.

As a captive foundry (owned by the company that makes the product), YPPI is in a unique position to meet market demand quickly. While other manufacturers who rely on external sources are currently suffering from lead times that have doubled and tripled, YPPI’s investment in the Greenfield facility helps the company meet demand in a more timely manner.

“Yamaha built the Greenfield facility with additional capacity in mind – not only to meet today’s demand, but tomorrow’s as well,” said Ak. “As key customers of many vendors that supply U.S.-sourced products, we’ve been at the forefront of receiving the raw materials we needed to keep up the pace.”

To achieve greater levels of efficiency and increased production, the YPPI team brought in several new equipment advancements including a first-of-its-kind pouring system in addition to higher levels of space-efficient automation, i.e. robotic processing. The robotics created the need for new technical roles to support the equipment and technology.

YPPI employees have the advantage of on-the-job foundry training and expert skill development that is directly transferrable to other manufacturing industries. The manufacturer also offers world-class benefits and competitive salaries that start well above minimum wage, giving employees comfortable lifestyle options within the cost-of-living factor in Greenfield.

YPPI plans to hire more than 30 new employees through the end of 2021 for a total just over 200 employees between the two facilities.

Yamaha Marine products are marketed throughout the United States and around the world. Yamaha Marine U.S. Business Unit, based in Kennesaw, Ga., supports its 2,400 U.S. dealers and boat builders with marketing, training and parts for Yamaha’s full line of products and strives to be the industry leader in reliability, technology and customer service. Yamaha Marine is the only outboard brand to have earned NMMA^®’s C.S.I. Customer Satisfaction Index award every year since its inception.

REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear. Messaging and data rates may apply.

® 2021 Yamaha Motor Corporation, U.S.A. All rights reserved.

This document contains many of Yamaha’s valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.

Melissa Boudoux
Media Relations and Dealer Education
Yamaha U.S. Marine Business Unit
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MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy today announced that it is the largest clean energy provider in the country when it comes to wind, solar and battery storage, according to the American Clean Power Association (ACP). In its recently published annual report, the ACP ranks investor-owned utilities, based on the amount of clean power on their systems at the end of 2020, and Xcel Energy came out on top.

“The nation has seen tremendous growth on the wind and solar front, and we’re proud to be leading the charge in providing our customers with clean energy,” said Ben Fowke, CEO and chairman of Xcel Energy. “This is a time of significant change for our company and industry as we embrace renewables and other technologies that provide value to our customers, communities and the environment.”

Xcel Energy is the first major U.S. power provider to announce a vision of delivering 100% carbon-free electricity to its customers by 2050, and it’s more than halfway there. The company has also proposed plans to retire most of its coal generation ahead of schedule, which will help reduce carbon emissions 80% by 2030, one of the most aggressive interim targets in the industry, consistent with the Paris Agreement targets.

At the end of 2020, Xcel Energy had 11,205 megawatts of wind and solar on the system, edging out its peers by 43 megawatts, according to the report.

In 2021, the company surpassed 10,000 megawatts of wind on its system, after wrapping up the largest multi-state wind expansion in the country. By the end of this year, Dakota Range, a large wind farm in South Dakota, is expected to come online.

In addition to reducing carbon emissions 80% by 2030, Xcel Energy expects to serve customers company-wide with electricity that is nearly 80% carbon free, including approximately 65% renewable sources, by the end of the decade.

About Xcel Energy

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

Xcel Energy Media Relations
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LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy Partners, LP (“TEP”) announced today that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding senior notes (the “Notes”) listed in the following table upon the terms and conditions described in TEP’s Offer to Purchase, dated August 11, 2021 (the “Offer to Purchase”).

(1) Tallgrass Energy Finance Corp., a wholly owned subsidiary of TEP, is a co-issuer of these securities.

(2) Holders whose Notes are purchased will also receive accrued and unpaid interest thereon from the last interest payment date up to, but not including, the initial settlement date.

The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase, Letter of Transmittal and Notice of Guaranteed Delivery, copies of which may be obtained from Global Bondholder Services Corporation, the tender agent and information agent for the Tender Offer, by calling (866) 794-2200 (toll free) or, for banks and brokers, (212) 430-3774. Copies of the Offer to Purchase, Letter of Transmittal and Notice of Guaranteed Delivery are also available at the following web address: https://www.gbsc-usa.com/tallgrass/.

The Tender Offer will expire at 5:00 p.m., New York City time, on August 17, 2021 unless extended or earlier terminated (such time and date, as the same may be extended, the “Expiration Time”). Tendered Notes may be withdrawn at any time before the Expiration Time. Holders of Notes must validly tender and not validly withdraw their Notes (or comply with the procedures for guaranteed delivery) before the Expiration Time to be eligible to receive the consideration for their Notes.

Settlement for Notes tendered prior to the Expiration Time and accepted for purchase will occur promptly after the Expiration Time, which is expected to be August 18, 2021, assuming that the Tender Offer is not extended or earlier terminated. The settlement date for any Notes tendered pursuant to a Notice of Guaranteed Delivery is expected to be on August 20, 2021, subject to the same assumption.

To the extent the Tender Offer is not subscribed in full, TEP intends to exercise its right to redeem any Notes that are not tendered in the Tender Offer. The redemption date is expected to be on or about September 17, 2021. The redemption price for the Notes will be 101.375% of the aggregate principal amount being redeemed, plus accrued and unpaid interest on the Notes redeemed to, but not including, the redemption date. The Tender Offer and the redemption are conditioned upon the satisfaction of certain conditions, including the completion of a contemporaneous notes offering (the “Notes Offering”) by TEP on terms and conditions (including, but not limited to, the amount of proceeds raised in such Notes Offering) satisfactory to TEP. The Tender Offer is not conditioned upon any minimum amount of Notes being tendered. The Tender Offer may be amended, extended, terminated or withdrawn. TEP intends to use the net proceeds of the Notes Offering, together with borrowings under its existing senior secured revolving credit facility, to fund the Tender Offer and to redeem any 2024 Notes outstanding after completion of the Tender Offer.

TEP has retained MUFG Securities Americas Inc. to serve as the exclusive Dealer Manager for the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to MUFG Securities Americas Inc. at (212) 405-7440 (phone) or (646) 434-3455 (fax).

This press release is neither an offer to purchase nor a solicitation of an offer to sell any Notes in the Tender Offer. In addition, this press release is not an offer to sell or the solicitation of an offer to buy any securities issued in connection with any contemporaneous notes offering, nor shall there be any sale of the securities issued in such offering in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Tallgrass Energy

Tallgrass Energy is a leading energy and infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.

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Latest release of pipeline management software meets new standards, including cybersecurity-related guidance sponsored by the Department of Energy

HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), the global software leader dedicated to the energy industry, today announced the latest release of its myQuorum Pipeline Management software meets the North American Energy Standards Board (NAESB) 3.2 standards recently approved by the Federal Energy Regulatory Commission (FERC). FERC Order No. 587-Z includes updates to existing cybersecurity-related standards developed in response to the Department of Energy-sponsored cybersecurity surety assessment and are intended to enhance the security measures of business transactions on interstate natural gas pipelines. Quorum accelerated compliance with the latest standards to help pipeline operators quickly adopt the latest best practices, including transparency and cybersecurity-related guidance.

“Security is a critical priority for the energy industry, and recent cyberattacks have put pipeline operators at the forefront,” said Tyson Greer, Chief Product Officer, Quorum Software. “Quorum is committed to developing software that meets high standards, helps our customers minimize disruptions, and supports their operations. We have a longstanding track record of delivering and successfully implementing new versions of the NAESB standards to our customers, including prioritizing NAESB standards as part of our product roadmap, participating actively as a member, and partnering with customers to help them meet the regulatory requirements and demands of an evolving industry.”

Version 3.2 includes updates to the Nominations Related Standards and the Quadrant Electronic Delivery Mechanism Standards and modifications to the data sets that support Nominations, Additional Standards, Flowing Gas, and Capacity Release. Per the Order, interstate natural gas pipelines must make compliance filings by November 12, 2021, and comply with the standards incorporated by reference by June 1, 2022.

The latest release of myQuorum Pipeline Management is certified to comply with NAESB 3.2. Courtney Harmon, Senior Quorum Manager responsible for myQuorum Pipeline Management, is an elected member of the 2021 NAESB Wholesale Gas Quadrants Services Segment. In addition to proactive support for NAESB through software and stewardship, Quorum provides the following advantages to pipeline operators:

• Deep Industry Experience: Quorum supports the commercial operations of 26 gas pipeline operators running over 130 pipeline assets, storage facilities, and local distribution companies, including 33 FERC-regulated interstate pipelines, 36 state-regulated pipelines, and seven international pipelines with over 80,000 miles of long-haul transmission pipeline.
• Regulatory Compliance: Established and ongoing support for FERC, NAESB, and state regulatory requirements to maintain compliance.
• Best-in-Class Functionality: Unmatched software portfolio with fully integrated, best-in-class software solutions for complex commercial pipeline contracting, nominations, scheduling, measurement, and invoicing processes.
• Continuous Innovation: Modern, cloud-based platform with continuous investment to enable scalability.

To learn more about Quorum’s oil and gas transportation software and connect with a customer success representative, visit quorumsoftware.com.

About Quorum Software

Quorum Software connects people and information across the energy value chain. Twenty years ago, we built the first software for gas plant accountants. Pipeline operators came next, followed by land administrators, pumpers, and planners. Since 1998, Quorum has helped thousands of energy workers with business workflows that optimize profitability and growth. Our vision for the future connects the global energy ecosystem through cloud-first software, data standards, and integration. The trusted source of decision-ready data for 1,800+ companies, Quorum Software makes the essential connections that let us work better together in the connected energy workplace. For more information, visit quorumsoftware.com.

Jenna Billings
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DUBLIN--(BUSINESS WIRE)--The "Sonar Fish Finder Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.

The Sonar fish finder market is forecasted to grow at a CAGR of 6.8% within the forecasted period.

Companies Mentioned

• NorCross Marine Products Inc
• Furuno Electric Co. Ltd.
• Johnson Outdoors Inc.
• Garmin Ltd.Deeper
• Samyung ENC
• GME
• Humminbird
• Navico
• FLIR Systems

The global sonar fish finder market is emerging as the technology enhances its growth by research & innovation. Sonar is a high performance horizontal fish finder that can detect and display objects in all directions around the device. The sonar technology is majorly used for fishing in various regions across the globe. The market is driven by the fishing sector as fishing sector is worth of $ 527,052 million worldwide. In 2021 the per person intake of sea food is accounted as 4.5 kg approximately. The use of technology ensures fishing of appropriate fishes, detection of ground levels & object detection. The application of sonar technology in ecofriendly way is the key factor for growth. The key application includes wide range of fishing of sea food. The technical advancement & innovation ensure growth in application of market.

Significant Growth in Fishing Ensures Market Revenues

Fishing is carried out in various regions across the globe; some of the regions have fishing as their primary source of income. The sales have boosted in past few decades, as there was growth in demand for sea food. Change in lifestyle, income sources, and change in eating habits plays a vital role in demand for sea food. The key factors such as increase in fish consumption, ecommerce, wide range of sea food & favorable fish farming ensure growth in revenue. Some of the government policies to protect the coral reefs and other species on verge of extension restrain the revenue generation.

Technology Plays a Vital Role

The GPS, sonar screening & radar systems play important role in fish finder market. The sonar technology is mostly used by the fishermen as it is convenient to use, accurate & is cost efficient. The technology detects accurate location of underwater bodies, in depth temperature and change in surrounding. The fishing is carried out in a cost effective way through sonar technology. Online platforms are very convenient and have been a big boon to sell sea food.

Asia pacific dominates the market

The fishing industries have significant growth in the Asian countries such as India, China and Japan as fishing is carried out on large scale. The North America & Europe are registered as second growing regions. Asia has the most import & export of products across the globe. Many fishers have adopted various technology oriented methods of fishing as they ensure more revenue generation, easy application & low risk of uncertainty.

Key questions answered in this report

• What are the key market segments in current scenario and in the future by product categories?
• What are the key market segments in current scenario and in the future by regions?
• What is the key impact of Covid-19 over market revenues and market determinants in the Sonar fish finder market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segment?
• Who are the key players in the Sonar fish finder market and what are their key product categories and strategies?
• What are the key strategies - mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?

Key Topics Covered:

Chapter 1 Preface

Chapter 2 Executive Summary

Chapter 3 Market Dynamics

3.1 Introduction

3.1.1 Global SFFM Market Value, 2019 - 2029, (US$ Mn)

3.2 Key Trends Analysis

3.2.1 Significant growth in fishing ensures revenue generation

3.2.2 Technology plays a vital role

3.2. Asia pacific dominates the market

3.3 Market Dynamics

3.3.1 Market Drivers

3.3.1.1 Evolving Textile Trend and Rise in Discretionary Income

3.3.1.2 Superiors Advantages of Using SFFM

3.3.1.3 Increasing use of Customized material as a Promotional Tool

3.3.2 Market Challenges

3.3.2.1 Limitations of Technique over other Methods

3.3.3 Impact Analysis of Drivers and Restraints

3.4 See-Saw Analysis

3.5 Attractive Investment Proposition

3.6 Competitive Landscape

3.6.1 Market Positioning of Key SFFM Vendors

3.6.2 Strategies Adopted by SFFM Vendors

Chapter 4 SFFM Market, By Type

Chapter 5 SFFM Market, By Application area

Chapter 6 North America SFFM Market Analysis

Chapter 7 Europe SFFM Market Analysis

Chapter 8 Asia Pacific SFFM Market Analysis

Chapter 9 Rest of the World SFFM Market Analysis

Chapter 10 Company profiles

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Successful sequestration test well significantly de-risks the project while demonstrating carbon dioxide can be safely stored underground

COLUMBIA, La.--(BUSINESS WIRE)--Strategic Biofuels LLC, the leader in developing negative carbon footprint renewable fuels plants, announced today that its Carbon Capture and Sequestration (CCS) Test Well Program was successfully completed at the company’s Louisiana Green Fuels Project (LGF) in Caldwell Parish, Louisiana. LGF is the first renewable diesel fuel project to achieve this milestone.

The goals of the test well program were to demonstrate that carbon dioxide (CO₂), the main greenhouse gas generated during the fuel production process, can be safely and securely stored deep underground and that the storage reservoir has sufficient capacity to store all the gas produced over the plant’s lifetime. Completing the test well program is an essential pre-requisite for securing the permit for the EPA Class VI sequestration well.

“Carbon capture and permanent geologic sequestration is no longer a hypothetical scenario for Louisiana Green Fuels — successful completion of the test well is a major milestone that’s not been achieved by any other renewable diesel project,” said Dr. Paul Schubert, Chief Executive Officer of Strategic Biofuels. “These results enable us to move forward knowing that combining CCS with conversion of sustainable forestry waste to renewable diesel at our project site will enable us to achieve our deeply negative carbon footprint goal. Deep carbon negativity greatly increases the potential carbon credit revenues from our fuel and vastly improves the project’s returns. What’s set us apart from other developers was recognizing that the de-risking we could achieve with the test well more than justified the multi-million-dollar expenditure for the program at this early stage.”

The design and execution of the test well program was developed by Chief Operating Officer Bob Meredith with help from Geostock Sandia, an international consulting firm that has worked with the Department of Energy on carbon sequestration wells for almost two decades. Notably the program used oil field workers and traditional oilfield equipment to advance this green energy project.

Engineering phase next for LGF

Strategic Biofuels is now moving into a phase of engineering design for the plant that will give even greater clarity on the overall, long-term costs of the project, while also applying for the required regulatory permits and putting third party contracts in place.

“It’s easy to get excited about what the success of this sequestration test well means to the economic development for Caldwell Parish and the State of Louisiana, but we still have a lot of work to do entering an aggressive capital raise,” added Meredith. “What we have been able to accomplish could very well be a blueprint for the renewable energy industry that is working to address our country’s carbon footprint far into the future.”

Although the data collection from the CCS test well is done, it will remain in place as a monitoring well once the plant is complete and carbon dioxide injection begins in its Class VI well. The current project schedule is for the plant to be mechanically complete in mid-2025 and achieve full commercial operation in late 2025.

The first carbon negative plant demonstrating circular economy tenets

Located on a 171-acre site at the Port of Columbia, the LGF plant will affordably convert forestry waste feedstock into cleaner-burning renewable diesel and is projected to produce 33.7 million gallons of renewable fuel per year once in operation.

LGF has secured a 20-year agreement with an established, bankable feedstock supplier for delivery of compliant feedstock to the plant, ensuring long-term and cost-effective supply. The waste material will be in-woods processed and delivered as sized chips. The cleaner, renewable fuels produced at the plant will be transported to California by rail for one of the largest truck stop operators in the country through a 20-year offtake agreement, which includes purchase of all the site’s Federal (RFS) and California (LCFS) carbon credits. These agreements provide financial stability for the plant, while demonstrating a circular economy cycle often not achieved due to lack of scalability.

Just like synthetic motor oil is superior to traditional motor oil, LGF’s synthetic renewable diesel will be superior to both fossil diesel and biodiesel. If used unblended it would dramatically reduce engine emissions by up to 80 percent including the smoke and soot which are normally associated with fossil diesel. Not only is it cleaner burning, it is also non-toxic and biodegradable.

Led by a strong management team with invaluable experience

The management team that Schubert has put together has set them up for early success. Schubert has 35 years of experience in the petrochemical and renewable fuels industry and was formally COO of Velocys, an international sustainable fuels company. Meredith has almost 50 years of experience in the oil and gas industry. The Company’s other team members, Victor Filatov (CFO), Dr. Robert Freerks (VP Products), and Paul Oesterreich (VP Sales & Marketing) have long track records of success in the renewable energy industry and bring expertise in renewable energy project finance, carbon credit and fuel marketing and fuel quality development.

About Strategic Biofuels

Strategic Biofuels LLC is a team of O&G, petrochemical and renewable technology gurus focused on developing a series of deeply negative carbon footprint plants in northern Louisiana that convert waste materials from managed forests into renewable diesel fuel and renewable naphtha. The fuel qualifies for substantial Carbon Credits under the Federal Renewable Fuel Standard Program (RFS) and under the California Low Carbon Fuels Standard (LCFS).

About Louisiana Green Fuels

Louisiana Green Fuels (LGF) is the first project by Strategic Biofuels LLC in Northern Louisiana at the Port of Columbia in Caldwell Parish. The plant and its accompanying Class VI Carbon Capture and Sequestration Well will be the first renewable diesel project in North America to achieve “negative” carbon emissions. The feedstock for the plant is forestry waste from managed and sustainable forests.

Strategic Biofuels LLC
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Pierpont Communications
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RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Sparus Holdings, Inc. (Sparus), a portfolio company of Source Capital, LLC (Source Capital), on its sale to Ridgemont Equity Partners (Ridgemont). Sparus and its subsidiaries, Southern Cross and The Spear Group, deliver critical outsourced services to North America’s leading utilities. The transaction was led by Luke Semple, Matt White and Phil Hart of the Harris Williams Energy, Power & Infrastructure (EPI) Group.

“There is strong investor interest for high-quality assets in the utility services space, particularly with providers of inspection and professional services. Sparus has established itself as a leader in its service lines and a true partner to its utility clients,” said Luke Semple, a managing director at Harris Williams. “It was a pleasure working with the management team and Source Capital on this transaction and we look forward to following Sparus’ continued growth with their new partner.”

“The Sparus team has achieved impressive growth delivering highly technical services to a client base that demands uncompromising expertise,” added Matt White, a managing director at Harris Williams. “Sparus illustrates the continued demand for leading providers of critical outsourced services to support power infrastructure.”

Sparus is a leading provider of end-to-end outsourced field and professional services for utility and industrial customers. Through a growing family of brands, including Southern Cross, The Spear Group and OneVision Utility Services, Sparus provides gas line inspection and leak detection, utility metering services, utility locate and damage prevention services, project management and delivery, owners’ representation, and other related professional services. For over 75 years, Sparus has been committed to the highest standards of safety and industry expertise to meet the evolving needs of its customers.

Source Capital is a private investment firm focused on providing flexible equity and debt capital to lower-middle market companies across a range of industries. Source Capital’s investment strategy targets growing companies with greater than $2 million in EBITDA seeking a growth-oriented partner. Since its founding in 2002, Source Capital has made 23 equity platform investments, 44 add-on acquisitions and 35 debt investments through four separate credit funds.

Ridgemont is a Charlotte, North Carolina-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5.5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Ridgemont’s most recent flagship fund, REP III, was formed in 2018 and has $1.65 billion of committed capital.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams EPI Group has significant experience advising market leading providers of technology, services and products across a broad range of sectors. These sectors include energy management; infrastructure services; utility services; testing, inspection, and certification services; environmental services; engineering and construction; power products and technology; and energy technology. For more information on the Group’s experience, please visit the EPI Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockelnheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: This email address is being protected from spambots. You need JavaScript enabled to view it.). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

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Julia Moore
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NEW YORK--(BUSINESS WIRE)--BentallGreenOak (BGO), on behalf of an institutional investor, announced plans to install its first community solar project, financed by Summit Ridge Energy (SRE) and facilitated by Black Bear Energy. The two solar projects totaling 2.7 MW in size will be owned and operated by SRE and hosted on two of BGO’s industrial assets. Once operational in Q1 2022, both rooftop systems will participate in Maryland’s community solar program to provide renewable power to local residents and businesses and are expected to produce 3,498,755 kWh of electricity, enough to power approximately 300 homes for one year. This is the first community-use solar project for BGO, who is evaluating similar community solar hosting opportunities for the firm’s national industrial portfolio.

“It is inherent in our investment philosophy to explore innovative and meaningful ways to create connection points between our assets and the communities that surround them, in order to produce economic, environmental and social benefits. In partnership with Black Bear Energy and Summit Ridge Energy, we are demonstrating that industrial assets can also achieve these goals by utilizing valuable rooftop square footage to reliably deliver clean energy back to the local grid,” said Mark Reinikka, Managing Director of U.S. Asset Management, BentallGreenOak.

“Summit Ridge Energy continues to be the nationwide leader in financing community solar projects and is thrilled to partner with BGO and Black Bear Energy to build another project in Maryland. SRE looks forward to starting construction on this large-scale rooftop solar array,” said SRE’s Vice President of Business Development Nate Greenberg.

“It is exciting to work with clients like BGO that take advantage of community solar opportunities to create value not just for themselves but for the greater community. We are proud to support our clients’ efforts in increasing renewable energy generation and providing low-cost renewable power to the wider community,” commented Drew Torbin, Black Bear Energy’s Chief Executive Officer.

About BentallGreenOak

BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.

For more information, please visit www.bentallgreenoak.com

About Summit Ridge Energy

Summit Ridge Energy is the country’s leading owner-operator of community solar assets. Through dedicated funding platforms, the team acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. Follow Summit Ridge Energy on and for updates, or learn more at www.srenergy.com.

About Black Bear Energy

Black Bear Energy is a technology-enabled, commercial buyer’s representative specializing in onsite renewable energy and cleantech services. In the past five years, Black Bear has helped its clients bid out over 1,000 clean technology projects in more than 20 states through its data driven process. For more information about Black Bear Energy, visit www.blackbearenergy.com.

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Interplay of geography and demand underpins energy interdependency between the two countries, IHS Markit report says

CALGARY, Alberta--(BUSINESS WIRE)--Canadian oil production is more than two and half times domestic demand, yet the majority of crude oil demand in the country arrives via the United States, according to a new analysis by IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions.

The latest report by the IHS Markit Oil Sands Dialogue finds that approximately 55% of crude oil and condensate demand in Canada in 2019 was served either by imports from the United States (600,000 b/d) or were sourced from domestic production routed through the United States and then back into the country (480,000 b/d), known as reexports.

“The necessities of geography and the varying demands of markets for different types of crude underpin a highly complex and interdependent oil logistics system between Canada and the United States,” said Celina Hwang, director, North American crude oil markets, IHS Markit. “Although this study highlights Canadian dependence on the United States for both supply and transportation, the relationship is truly symbiotic with both nations relying on one another to meet domestic demand each day.”

A major factor in the workings of the system is that 95% of Canadian production occurs onshore, inland and often in areas far from its main consuming areas in the more populous central regions of Ontario and Quebec, the report says. The type of oil demanded in different regions also plays a role. Refineries in the U.S. Midwest and U.S. Gulf Coast invested in heavy processing units take advantage of growing western Canadian heavy oil production, while refineries in Ontario and Quebec remained geared toward lighter crude grades.

“Although not well-recognized, the U.S. Gulf Coast refinery complex is only slightly farther away from western Canadian production than Ontario and Quebec, and it’s significantly larger and already configured to consume significant volumes of heavy sour crude,” said Hwang. “That presents an attractive solution for both sides.”

IHS Markit estimates that, overall, Canada’s long-distance transportation system—which includes pipeline, rail and marine transport—handled about 6.6 MMb/d of crude oil in 2019, approximately 2 MMb/d more than the country produced.

The report says that the demands on that transportation system are also set to increase in coming years. The recently released IHS Markit 10-year production forecast estimates that, despite short- and medium-term impacts from COVID-19, Canadian crude supply is still expected to grow by nearly 900,000 b/d from 2020 to 2030.

“Most of the anticipated growth in Canadian production is set to come from the ramp-up and optimization of existing projects,” said Kevin Birn, vice president and chief Canadian oil market analyst, IHS Markit. “That growth is coming, and transportation capacity is needed to keep pace. IHS Markit estimates that, by just 2025, total crude movements could increase by more than 650,000 barrels per day from pre-pandemic levels.”

Pipeline capacity could see the greatest increase to keep up with the added supply, followed by an increase in marine tanker traffic. However, delays in new pipeline projects could result in greater movements of crude-by-rail than currently anticipated, the report says.

Additionally, potential disruption to existing pipelines—such as attempts to shut down the Enbridge Line 5 pipeline that serves Detroit and surrounding areas of Michigan and Ohio, as well as Toronto and surrounding areas in Ontario and Quebec—could have significant implications.

“Differing views on the pace of energy transition have put the energy interdependency between Canada and the United States under some strain,” Birn says. “Any disruption of existing infrastructure could have significant implications for Canada, the broader North American system and energy security.”

About IHS Markit (www.ihsmarkit.com)

IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2021 IHS Markit Ltd. All rights reserved.

Jeff Marn
IHS Markit
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Equipment to provide 1,000 megawatts of power electronics to support buildout of projects in Texas ERCOT electrical market

HOUSTON--(BUSINESS WIRE)--Broad Reach Power LLC (“Broad Reach”), an independent power producer based in Houston which owns a 13-gigawatt portfolio of utility-scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas, announced today that it has entered into an agreement with Sungrow Power Supply Co., Ltd for 1,000 MW of energy storage technology to support the construction and operation of six standalone battery storage projects in Texas.

“Broad Reach is committed to investing in and developing energy infrastructure to help support the grid in key markets such as Texas,” said Broad Reach Power’s Managing Partner & Chief Technology Officer, Doug Moorehead. “Broad Reach’s energy storage projects, connected at both distribution voltages and high voltage transmission, are critical in the further growth of solar and wind renewable generation in the US as well as the resiliency and reliability that US grid operators will increasingly demand in the future.”

The equipment was procured under a structured framework, Master Procurement Agreement between Broad Reach and Sungrow that establishes a versatile procurement platform for purchase of both power conversion equipment and battery energy storage products.

“Broad Reach is the US leader in energy storage development and asset buildout. This is one of the largest orders ever placed in the energy storage industry for this equipment and represents a historical inflection point for this globally important and purpose driven ESG-focused industry,” said Mizhi Zhang, Managing Director- ESS business, Americas Region at Sungrow. Zhang also mentioned that approximately 1.8 GWh of Sungrow energy storage turnkey systems utilizing both NCM and LFP technology are expected to be deployed in the US in 2021, facilitating its market share locally and meeting the growing demand as the industry leader.

About Broad Reach Power

Broad Reach Power is the leading utility-scale storage independent power producer (IPP) in the United States. Based in Houston, Broad Reach Power is backed by leading energy investors EnCap Investments L.P., Yorktown Partners and Mercuria Energy. The company owns a 13-gigawatt portfolio of utility-scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas which give utilities, generators and customers access to technological insight and tools for managing merchant power risk so they can better match supply and demand. Broad Reach is led by a team comprised of solar, wind and storage experts who have delivered more than four gigawatts of projects and have a combined 80 years of experience in the field. For more information about the company, visit www.broadreachpower.com.

About Sungrow

Founded in 1997 by University Professor Cao Renxian, Sungrow Power Supply Co., Ltd. (“Sungrow”) is the world’s most bankable inverter brand. In 2006, Sungrow ventured into the energy storage system (“ESS”) industry. Relying on its cutting-edge renewable power conversion technology and industry-leading battery technology, Sungrow focuses on integrated energy storage system solutions. The core components of these systems include PCS, lithium-ion batteries and energy management systems. These “turnkey” ESS solutions can be designed to meet the demanding requirements for residential, C&I and utility-side applications alike, committed to making the power interconnected reliably.

After 15 years of growth, Sungrow is on the path to becoming the world-leader in supply of ESS equipment and integrated system solutions, with zero security incidents. Last year, Sungrow shipped more than 800 MWh ESS worldwide, ranging from islands and high altitude plateaus to ports and residential installations.

Morgan Moritz
Pierpont Communications
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Naveed Hasan
Sungrow Americas
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NORTH MANKATO, Minn.--(BUSINESS WIRE)--NextGen RF is pleased to announce they have signed an agreement to acquire three products from CalAmp® including Guardian™, Viper SC+™ and Viper SC+ Base Station™. This acquisition has a unique connection to NextGen RF’s President, David Mitchell, along with several engineers from the NextGen RF team who were instrumental in the engineering and development of these products 16 years ago with the original company Dataradio—which was acquired by CalAmp® in 2006. In 2008, when NextGen RF was founded, a partnership between the two companies began.

“We are pleased to welcome these products into the NextGen RF brand and feel confident that we can fully support the current product while we take it to the next level in the coming years,” said NextGen RF President, David Mitchell. “The history I have with Dataradio, as well as several engineers from the NextGen RF team, made this an ideal choice. We are excited to grow our product line and company in such a natural way with this acquisition.”

The 10-year plus partnership between NextGen RF and CalAmp® expanded over the past year when CalAmp® selected NextGen RF to become the contract manufacturer, as well as provide RMA service for the Guardian™ and Viper SC+™ products. Bringing these products into the NextGen RF family allows for continued sustainability with the current portfolio and the ability to revive and improve the high quality, ruggedized radio products for the current and future customer base. NextGen RF’s partnership with established distribution partners will continue to bring high quality service to our customers.

“NextGen RF wants distributors and customers to truly understand that we have a historic and deep connection in mutual product development and engineering with Dataradio and CalAmp®,” Mitchell said. “We are committed to providing quality engineering and exceptional customer service.”

Dataradio was founded in 1981 and was a leading supplier of proprietary advanced wireless data systems, products and solutions for public safety, critical infrastructure and industrial control applications until it was acquired by CalAmp® in May 2006.

About NextGen RF

NextGen RF is a USA owned and operated engineering services company providing valuable wireless design expertise on a variety of products, ranging from design consultation to fully turnkey product development and manufacturing. For more information, visit www.nextgenrf.com.

Luke Tholen
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Malia H. Wasson is the first woman to chair the company’s board of directors

PORTLAND, Ore.--(BUSINESS WIRE)--NW Natural Holding Company’s (NYSE: NWN) board of directors has elected its new board chair, Malia H. Wasson, effective as of August 9, 2021.

For the past seven years, Wasson has served as a member of the board, most recently as chairperson of the audit committee.

“It’s an exciting moment in our 162-year history to welcome Malia as our board chair,” said David H. Anderson, president and chief executive officer of NW Natural. “Malia brings tremendous experience and insight to the table and we’re very fortunate to have her leadership.”

In addition to her role on the board, Wasson is chief executive officer of Sand Creek Advisors LLC, which provides business consulting to chief executive officers of public and private companies. And prior to that, she was an executive vice president of commercial banking at U.S. Bank, N.A., and served as president of U.S. Bank’s Oregon and Southwest Washington operations from 2005 to 2015.

Wasson also currently serves on the board of directors of Columbia Sportswear Company where she chairs the audit committee, is a director and past chair of the Oregon Business Council and serves as a senior fellow at American Leadership Forum. Her management and leadership roles, as well as her strong community presence help advise the board on a wide range of strategic matters – from financial and regulated industry to public policy and change management.

“It’s clear to me that NW Natural has an important role in our region, and I’m proud and committed to furthering the hard work that’s underway,” said Wasson.

Wasson formerly served on the boards of Oregon Health & Science University Foundation, Inc., OHSU Knight Cancer Institute, Portland Business Alliance, Greater Portland Inc., Portland Mall Management, Inc., SOLVE Founders’ Circle and the American Red Cross-Oregon Trail Chapter and was past chair of the Oregon Business Plan. She holds a bachelor of science and commerce degree in finance from Santa Clara University.

Wasson was also elected as chair to the board of directors of Northwest Natural Gas Company (NW Natural), the company’s wholly owned subsidiary, starting August 9, 2021.

ABOUT NW NATURAL HOLDINGS

Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and through its subsidiaries has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and other business interests.

NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 770,000 meters in Oregon and Southwest Washington, with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 20 Bcf of underground gas storage capacity in Oregon.

NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. NW Natural Water currently serves approximately 63,000 people through about 26,000 connections. Learn more about our water business at nwnaturalwater.com.

Additional information is available at nwnaturalholdings.com.

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Investor Contact:
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(503) 721-2530