CARNEGIE, Pa.--(BUSINESS WIRE)--Rice Acquisition Corp. II (NYSE: RONI U) (the “Company”) announced that, commencing August 6, 2021, holders of the units sold in the Company’s initial public offering may elect to separately trade the Class A ordinary shares and warrants included in the units. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The Class A ordinary shares and warrants that are separated will trade on the New York Stock Exchange (the “NYSE”) under the symbols “RONI” and “RONI WS,” respectively. Those units not separated will continue to trade on the NYSE under the symbol “RONI U.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and warrants.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146; and Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email: This email address is being protected from spambots. You need JavaScript enabled to view it., telephone: 1-888-603-5847.

About Rice Acquisition Corp. II

Rice Acquisition Corp. II is a newly organized blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company’s efforts to identify a prospective target business will not be limited to a particular industry, although it intends to focus its search for a target business in the broadly defined energy transition or sustainability arena.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the Securities Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Kyle Derham
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Emera’s largest operating company, Tampa Electric has filed a settlement agreement for its rate request with the Florida Public Service Commission (Florida PSC). A ruling from the Florida PSC is expected later this year.

“This is a balanced agreement that supports Emera’s strategy to advance cleaner energy with important investments in grid modernization and reliability, all while never losing sight of affordability for customers,” says Scott Balfour, President and CEO of Emera Inc. “Reaching this agreement reflects the hard work of all parties in securing rate certainty through to the end of 2024 for Tampa Electric customers while positioning the utility to make continued investments in resiliency, customer solutions and a greener energy future.”

This settlement agreement is the latest of three rate case settlements at Emera’s US utilities and demonstrates the strength of Emera’s teams and strategy as well as Emera’s ability to work collaboratively with stakeholders to reach mutually beneficial outcomes. Peoples Gas and New Mexico Gas also concluded important rate cases over the past year.

Tampa Electric has been significantly reducing the carbon intensity of its generation mix with major investments in solar and the Big Bend Modernization project. This settlement agreement supports these efforts and the retirement of three coal units at Big Bend, the addition of new cleaner high efficiency natural gas generation and the second 600MW of solar.

“This settlement further cements the transformation that is occurring at Tampa Electric and it represents a fair and amicable resolution to our request for increased rates,” said Archie Collins, President and CEO of Tampa Electric. “At Tampa Electric we are focused on creating value for customers – adding more clean solar energy, reducing carbon emissions and fuel costs, modernizing our infrastructure for a smarter tomorrow, improving reliability, increasing resiliency in the face of climate change, and improving customer service. This settlement delivers on that value commitment.”

If approved by the Florida PSC, the settlement will result in Tampa Electric’s rates remaining significantly below the national average and among the lowest in Florida. The proposed agreement will provide additional revenue increases over three years beginning January 1, 2022 with expected incremental increases in revenue of $191M USD in 2022, $90M USD in 2023 and $21M USD in 2024. The agreement includes a return on equity (ROE) range of 9 – 11% with 9.95% being used for rate making purposes.

Tampa Electric filed its rate request in April 2021 originally requesting approximately $423M USD in additional base rate revenue over the three years plus a separate asset recovery of $29M USD. The settlement for $302M USD in revenue increases over three years was reached among Tampa Electric and all intervening consumer parties, including the Office of Public Counsel, which represents consumers in utility issues, the Florida Industrial Power Users Group, Federal Executive Agencies, Florida Retail Federation, Walmart and the West Central Florida Hospital Utility Alliance.

About Emera

Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H and EMA.PR.J. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.

Emera Inc.
Investor Relations
Dave Bezanson, VP, Investor Relations & Pensions
902-474-2126
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Jennifer Parker
902-222-3601
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DUBLIN--(BUSINESS WIRE)--The "Hydrogen Compressors Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type, Stage, and End-User" report has been added to ResearchAndMarkets.com's offering.

The hydrogen compressor market was valued at US$ 1,894.15 million in 2020 and is projected to reach US$ 2,813.27 million by 2028; it is expected to grow at a CAGR of 5.07% during 2020-2028.

Due to the mounting urbanization and industrial growth, the energy consumption has risen manifolds. Thus, to meet the soaring demand for power, the development of sub-transmission and intrastate transmission networks is expanding. The escalating demand for energy & power, owing to rising household incomes and increasing manufacturing and heavy industries, is boosting the deployment of hydrogen compressors. Renewable energy plays a significant role for offering access to electricity. As per the International Energy Agency (IEA), the demand of electricity is projected to expand at 2.1% per year by 2040 globally.

The growth in requirement for electricity in Southeast Asia is among the fastest in the globe; it has the potential for the renewable energy sector. Moreover, in APAC, India is the 3rd largest producer of electricity, and the generating capacity is exponentially expanding due to favorable government support and initiation of numerous power generation projects. The growth in electrical infrastructure projects worldwide is driving the use of hydrogen compressors among several energy & power projects and creating huge opportunities for the hydrogen compressor market players.

The hydrogen compressor market is segmented based on type, stage, end user, and geography. Based on type, the market is segmented into oil-based and oil-free. In 2020, the oil-based segment accounted for larger market share. In terms of stage, the market is bifurcated into single-stage and multi-stage. In 2020, the multi-stage segment accounted for larger share in the market.

Based on end-user, the hydrogen compressor market is segmented into chemicals, oil and gas, automotive and transportation, renewable energy, and other end-users. In 2020, the oil and gas segment accounted for the largest share in the market. Geographically, the global hydrogen compressor market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, the APAC segment accounted for the significant share in the global market.

A few major players operating in the global hydrogen compressor market are Atlas Copco AB; Burckhardt Compression AG; Fluitron, Inc.; Gardner Denver Nash, LLC; Howden Group; HAUG Sauer Kompressoren AG; NEUMAN & ESSER GROUP; Hydro-Pac, Inc.; Lenhardt & Wagner GmbH; and PDC Machines Inc.; among others.

Key Topics Covered:

1. Introduction

1.1 Study Scope

1.2 Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

4. Hydrogen Compressor Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Hydrogen Compressor Market - Key Industry Dynamics

5.1 Key Market Drivers

5.1.1 Growing Adoption of Hydrogen Fuel Cell Vehicles

5.1.2 Booming Oil and gas Sector

5.2 Key Market Restraints

5.2.1 High Recurring Cost in Maintenance

5.3 Key Market Opportunities

5.3.1 Rising Investments in New Energy & Power Projects Worldwide

5.4 Future Trends

5.4.1 Development of Electrochemical Hydrogen Compressor (EHC)

5.5 Impact Analysis of Drivers and Restraints

6. Hydrogen Compressor Market - Global Market Analysis

6.1 Hydrogen Compressor Market Overview

6.2 Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

6.3 Market Positioning - Five Key Players

7. Hydrogen Compressor Market Analysis - By Type

7.1 Overview

7.2 Hydrogen Compressor Market Breakdown, By Type (2020 and 2028)

7.3 Oil-Based

7.4 Oil-Free

8. Hydrogen Compressor Market Analysis- By Stage

8.1 Overview

8.2 Hydrogen Compressor Market Breakdown, By Stage (2020 and 2028)

8.3 Single-Stage

8.4 Multi-Stage

9. Hydrogen Compressor Market Analysis - By End-user

9.1 Overview

9.2 Hydrogen Compressor Market, By End-user (2020 and 2028)

9.3 Chemicals

9.4 Oil and Gas

9.5 Automotive and Transportation

9.6 Renewable Energy

10. Hydrogen Compressor Market - Geographic Analysis

10.1 Overview

11. Hydrogen Compressor Market- COVID-19 Impact Analysis

11.1 Overview

12. Industry Landscape

12.1 Overview

12.2 Market Initiative

12.3 New Product Development

13. Company Profiles

• Atlas Copco AB
• Burckhardt Compression AG
• Fluitron, Inc.
• Gardner Denver Nash, LLC
• Howden Group
• HAUG Sauer Kompressoren AG
• NEUMAN & ESSER GROUP
• Hydro-Pac, Inc.
• Lenhardt & Wagner GmbH
• PDC Machines Inc.

For more information about this report visit https://www.researchandmarkets.com/r/2idmzp

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Program Will Help Commercial Property Owners Make Much-Needed Energy Efficiency, Water Conservation, and Renewable Energy Upgrades

PETALUMA, Calif.--(BUSINESS WIRE)--Ygrene, the nation’s leading provider of commercial property assessed clean energy (C-PACE) financing, today announced its partnership with Invest Atlanta on a new C-PACE program in Atlanta that offers an alternative to traditional options for energy efficiency, water conservation, and renewable energy upgrades to new and existing buildings as well as retroactive financing for completed projects. With Ygrene’s extended terms and fixed-rate financing, property owners can preserve capital and reduce long-term costs.

“By encouraging energy and water efficiency upgrades for qualifying properties, we will create jobs as well as meet the city’s larger sustainability goals while modernizing buildings throughout the city for a more efficient use,” said Eloisa Klementich, President and CEO of Invest Atlanta. “We are thrilled to launch a program that will help Atlanta achieve its 100% clean energy goal by 2025.”

“We are excited to be partnering with the City of Atlanta to help enhance the city’s leadership in sustainability by providing Ygrene financing for a wide array of projects and upgrades to thousands of commercial properties, including new development and the much-needed overhaul of buildings throughout the city. Ygrene has provided critical financing for more than 1,400 commercial property improvement projects across the U.S. – representing over 50% of all C-PACE transactions – delivering this smart, innovative financing solution to support the development and growth of businesses. We look forward to doing the same for Atlanta and to building a successful, long-term partnership,” said Jim Reinhart, CEO of Ygrene.

Ygrene offers 100% fixed rate, off-balance-sheet financing with terms up to 20 years. Financing amounts are flexible to support multiple property types from small and mid-size to large commercial complexes, going up to 10%, or more, of the building’s value. Repayment is made through annual special tax assessments. The program will be administered through Invest Atlanta, the City of Atlanta’s economic development authority. Information on the program and how to apply is available on Invest Atlanta’s website.

The Atlanta City Council approved the creation of the PACE program in June 2017 through an ordinance that included a public-private partnership agreement with Ygrene. Subsequently, the Invest Atlanta Board of Directors unanimously authorized $500 million in bonds for the program. The City of Atlanta has been a leader in the Better Buildings Challenge effort to make commercial buildings more efficient and currently leads all participating cities with more than 110 million square feet of space committed to this effort. To date, 586 structures have reduced their energy consumption by 17 percent. Last year, the Atlanta City Council unanimously passed a resolution to set the citywide goal of transitioning to 100% renewable energy by 2035. Ygrene is proud to offer a vital tool to assist the City of Atlanta in accomplishing this impressive goal.

About Ygrene Commercial

Ygrene is the national leader in Commercial Property Assessed Clean Energy (C-PACE) financing. For property owners looking to reduce monthly costs, preserve capital, and increase property values, Ygrene offers financing for upgrades to new or existing buildings, as well as retroactive financing with repayment through annual special tax assessments. C-PACE projects financed by Ygrene are estimated to have created more than 2,900 job years and more than $400 million in local economic output, all while reducing lifetime carbon emissions by an estimated 450,000 metric tons – without the use of public tax dollars or credits. Learn more at ygrene.com/commercial.

Elliot Sloane
ThroughCo Communications
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917-291-0833

TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”), a leading provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today reported results for the second quarter 2021.

• Shipping revenues for the second quarter 2021 were $88.4 million, an increase of $7.1 million from the first quarter 2021. Compared to the second quarter 2020, shipping revenues decreased 22.9% from $114.5 million.

• Net loss for the second quarter 2021 was $10.7 million, or $(0.12) per diluted share, compared with net loss of $15.9 million, or ($0.18) per diluted share, in the first quarter 2021. Net income was $6.4 million, or $0.07 per diluted share, for the second quarter 2020.

• Time charter equivalent (TCE) revenues^(A), a non-GAAP measure, for the second quarter 2021 were $71.7 million, an increase of $6.2 million from first quarter 2021. TCE revenues were down 28.6% compared to second quarter 2020.

• Second quarter 2021 Adjusted EBITDA^(B), a non-GAAP measure, was $10.2 million, an increase of $4 million from the first quarter. Adjusted EBITDA decreased 65.9% from $29.8 million in the second quarter 2020.

• In June, we sold the Overseas Gulf Coast for $32.1 million, net of broker commissions and other fees. The sale of this unencumbered asset provided additional liquidity.

• During the quarter, the Company had seven ships in lay-up.

• Total cash^(c) was $61.8 million as of June 30, 2021.

Sam Norton, President and CEO, commenting on the recently completed quarter, stated, “OSG’s financial performance this quarter offers evidence of improving fundamentals in our core markets. Continued solid cash flows generated by our niche and ATC assets combined with stable contributions from our conventional tanker and ATB fleets to deliver better than anticipated EBITDA. The recovery slope of domestic marine transportation demand has been flatter than what had been expected earlier in the year due to import substitution for domestic supply. When fuel demand patterns consistent with historic levels of consumption normalize in the quarters ahead, we believe this will stimulate more marine transportation demand, which would positively impact our financial results.”

Mr. Norton added, “The ongoing global coronavirus pandemic continues to weigh on demand and transport pricing dynamics in the global liquid bulk transportation markets. Our customers' reluctance to enter into longer-term transportation commitments has been a continuing condition since the onset of the pandemic. As vaccines become more widely distributed globally and consumption of transportation fuels outside of the United States regains traction, demand for Jones Act tankers domestically should normalize as our customers' visibility toward and confidence in the future returns.”

^{A, B, C} Reconciliations of these non-GAAP financial measures are included in the financial tables attached to this press release starting on Page 8.

Second Quarter 2021 Results

Shipping revenues were $88.4 million for the quarter, an increase of $7.1 million, or 8.7%, from the first quarter of 2021. TCE revenues increased $6.2 million, or 9.4%, from the first quarter to $71.7 million in the second quarter. The revenue increase was driven by increases in lightering volumes and a 58-day increase in chartered out days during the second quarter.

The second quarter operating loss was $5.8 million compared to the first quarter operating loss of $15.7 million. The first quarter loss included a provision for loss related to the sale of the Overseas Gulf Coast of $5.5 million.

Quarterly adjusted EBITDA increased to $10.2 million during the second quarter, a $4 million increase from the first quarter of 2021. The increase was driven by the increased revenues for the quarter.

Shipping revenues were $88.4 million for the quarter, down 22.9% compared with the second quarter of 2020. TCE revenues for the second quarter of 2021 were $71.7 million, a decrease of $28.7 million, or 28.6%, compared with the second quarter of 2020, primarily a result of a 599-day increase in lay-up days due to seven vessels in lay-up, a decision taken in light of the lack of demand due to the economic impact of COVID-19.

Operating loss for the second quarter of 2021 was $5.8 million compared to operating income of $13.6 million in the second quarter of 2020.

Net loss for the second quarter of 2021 was $10.7 million, or $(0.12) per diluted share, compared with net income of $6.4 million, or $0.07 per diluted share, for the second quarter 2020.

Adjusted EBITDA was $10.2 million for the quarter, a decrease of $19.6 million compared with the second quarter of 2020, driven primarily by the decrease in TCE revenues.

Conference Call

The Company will host a conference call to discuss its second quarter 2021 results at 9:30 a.m. Eastern Time (“ET”) on Friday, August 6, 2021.

To access the call, participants should dial (844) 850-0546 for domestic callers and (412) 317-5203 for international callers. Please dial in ten minutes prior to the start of the call.

A live webcast of the conference call will be available from the Investor Relations section of the Company’s website at http://www.osg.com/.

An audio replay of the conference call will be available starting at 11:30 a.m. ET on Friday, August 6, 2021 through 10:59 p.m. ET on Friday, August 13, 2021 by dialing (877) 344-7529 for domestic callers and (412) 317-0088 for international callers, and entering Access Code 10158907.

About Overseas Shipholding Group, Inc.

Overseas Shipholding Group, Inc. (NYSE:OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 22 vessel U.S. Flag fleet consists of three crude oil tankers doing business in Alaska, two conventional ATBs, two lightering ATBs, three shuttle tankers, ten MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program. OSG also currently owns and operates one Marshall Islands flagged MR tanker which trades internationally.

OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, the Company may make or approve certain forward-looking statements in future filings with the Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to our prospects, supply and demand for vessels in the markets in which we operate and the impact on market rates and vessel earnings, the continued stability of our niche businesses, and the impact of our time charter contracts on our future financial performance. Forward-looking statements are based on our current plans, estimates and projections, and are subject to change based on a number of factors. COVID-19 has had, and will continue to have, a profound impact on our workforce and many other aspects of our business and industry. Investors should carefully consider the risk factors outlined in more detail in our filings with the SEC. We do not assume any obligation to update or revise any forward-looking statements except as may be required by applicable law. Forward-looking statements and written and oral forward-looking statements attributable to us or our representatives after the date of this press release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by us with the SEC.

Consolidated Statements of Operations
($ in thousands, except per share amounts)

Consolidated Balance Sheets
($ in thousands)

Consolidated Statements of Cash Flows
($ in thousands)

Spot and Fixed TCE Rates Achieved and Revenue Days

The following tables provide a breakdown of TCE rates achieved for spot and fixed charters and the related revenue days for the three and six months ended June 30, 2021 and the comparable periods of 2020. Revenue days in the quarter ended June 30, 2021 totaled 1,484 compared with 2,031 in the prior year quarter.

(a) Excludes one Alaska vessel currently in layup.

Fleet Information

As of June 30, 2021, OSG’s operating fleet consisted of 24 vessels, 12 of which were owned, with the remaining vessels chartered-in. Vessels chartered-in are on Bareboat Charters.

Reconciliation to Non-GAAP Financial Information

The Company believes that, in addition to conventional measures prepared in accordance with GAAP, the following non-GAAP measures provide investors with additional information that will better enable them to evaluate the Company’s performance. Accordingly, these non-GAAP measures are intended to provide supplemental information, and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP.

(A) Time Charter Equivalent (TCE) Revenues

Consistent with general practice in the shipping industry, the Company uses TCE revenues, which represents shipping revenues less voyage expenses, as a measure to compare revenue generated from a voyage charter to revenue generated from a time charter. TCE revenues, a non-GAAP measure, provides additional meaningful information in conjunction with shipping revenues, the most directly comparable GAAP measure, because it assists Company management in making decisions regarding the deployment and use of its vessels and in evaluating their financial performance. Reconciliation of TCE revenues of the segments to shipping revenues as reported in the consolidated statements of operations follows:

Vessel Operating Contribution

Vessel operating contribution, a non-GAAP measure, is TCE revenues minus vessel expenses and charter hire expenses.

(B) EBITDA and Adjusted EBITDA

EBITDA represents net income/(loss) before interest expense, income taxes and depreciation and amortization expense. Adjusted EBITDA consists of EBITDA adjusted to exclude amortization classified in charter hire expenses, interest expense classified in charter hire expenses, loss/(gain) on disposal of vessels and other property, including impairments, net, non-cash stock based compensation expense and loss on repurchases and extinguishment of debt and the impact of other items that we do not consider indicative of our ongoing operating performance. EBITDA and Adjusted EBITDA do not represent, and should not be a substitute for, net income/(loss) or cash flows from operations as determined in accordance with GAAP. Some of the limitations are: (i) EBITDA and Adjusted EBITDA do not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments; (ii) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, our working capital needs; and (iii) EBITDA and Adjusted EBITDA do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on our debt. While EBITDA and Adjusted EBITDA are frequently used as a measure of operating results and performance, neither of them is necessarily comparable to other similarly titled measures used by other companies due to differences in methods of calculation. The following table reconciles net income/(loss) as reflected in the consolidated statements of operations, to EBITDA and Adjusted EBITDA.

(C) Total Cash

Category: Earnings

Investor Relations & Media Contact:
Susan Allan, Overseas Shipholding Group, Inc.
(813) 209-0620
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DUBLIN--(BUSINESS WIRE)--The "Yacht Industry - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Yacht Industry Market to Reach $84.7 Billion by 2027

Amid the COVID-19 crisis, the global market for Yacht Industry estimated at US$64.1 Billion in the year 2020, is projected to reach a revised size of US$84.7 Billion by 2027, growing at a CAGR of 4.1% over the period 2020-2027.

The U.S. Market is Estimated at $18.9 Billion, While China is Forecast to Grow at 3.9% CAGR

The Yacht Industry market in the U.S. is estimated at US$18.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$15.1 Billion by the year 2027 trailing a CAGR of 3.9% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 3.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of Covid-19 and a Looming Global Recession
• Yachts: Floating Luxuries and More!
• Key Trends in Yachting Industry - In a Nutshell
• Recent Market Activity
• Yacht Industry to Benefit from the Increasing Wealth of UHNW Individuals
• Yachting: A Leisure Activity for Billionaires
• Increasing Disposable Incomes to Propel Yacht Sales
• Developed Regions: Key Revenue Contributors
• China Evolves into Fastest Growing Market for Yachts
• Yachting Set to Make Substantial Gains in Developing Regions
• Decoding the Yacht Customer in Developing Markets
• Stable Economic Scenario to Aid Market Growth
• Positive Tide in Global Ship & Boat Building Sector Generates Opportunities
• Competitive Scenario
• European Players Dominate the Global Yacht Market
• American Companies Aim to Expand Operations
• Asian Yacht Builders Emerge in the Market
• M&A Activity
• Select M&A Deals in the Global Yacht Market (2014-2017)
• Yacht Industry Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

2. FOCUS ON SELECT PLAYERS

• Azimut Benetti (Italy)
• Baglietto s.p.a (Italy)
• Bavaria Yachtbau GmbH (Germany)
• BENETEAU (France)
• Brunswick Corporation (USA)
• Cheoy Lee Shipyards Limited (Hong Kong)
• Christensen Shipyards Ltd. (USA)
• Dyna Craft Ltd. (Taiwan)
• Feadship (The Netherlands)
• Ferretti S.p.a (Italy)
• FIPA Group (Italy)
• Fr. Lurssen Werft GmbH & Co. KG (Germany)
• Blohm+Voss Shipyards (Germany)
• HanseYachts AG (Germany)
• Horizon Yacht Company (Taiwan)
• Kingship Marine Limited (Hong Kong)
• Oceanco (The Netherlands)
• Overmarine Group (Italy)
• Perini Navi S.p.a (Italy)
• Princess Yachts International Plc (UK)
• Sanlorenzo S.p.a (Italy)
• Shanghai Double Happiness Yacht Co., Ltd (China)
• Sunbird Yacht Co., Ltd. (China)
• Sunrise Yachts (Turkey)
• Sunseeker International (UK)
• Trinity Yachts (USA)
• Yantai CIMC Raffles Shipyard Limited (China)

3. MARKET TRENDS & DRIVERS

• Rising Demand for Superyachts Triggers Stellar Growth
• Steady Growth in Superyacht Sales
• Superyachts: New Orders and Build Projects
• Superyachts Continue to Get Bigger!
• Toys & Accessories Enhance the Entertainment Quotient in Superyachts
• Additional Thrust on Advanced Safety & Security Features
• Luxury Car Brands & Aerospace Companies Foray into Superyacht Vertical
• Popularity of Nautical Tourism Underpins Yacht Market Expansion
• Established Image of Yacht Chartering in Luxury Vacations Fuels Growth
• Yacht Owners Warm up to Chartering
• Yacht Customers Largely Brand Oriented
• Democratization of Luxury: A Key Influencing Factor for Luxury Yachts Market
• Surging Interest in Sailing among Women Opens Up Growth Avenues
• Aging Population - A Barrier to Growth?
• Sailing Yachts for Luxury Yacht Charter Experience
• Motor Yachts Dominate the Scenario
• Solar Yachts: An Ideal Alternative to Diesel Engine-Power Yachts
• Support Yachts Find Favor
• Sports Yachts: The Latest Design Trend
• Straight Line Yachts Find Favor
• Promising Opportunities for Little Ships
• Wave of Innovations & Novel Design Elements Entice New Yacht Buyers
• Hybrid Propulsion Systems
• Hydrofoils Technology
• Nature-Inspired Designs & Colors
• Innovative Eco-Friendly Features
• Design Changes Influence Performance Yachts Market
• Carbon Fiber: Emerging as a Preferred Material for Yachts
• Composites Demand in Boat Building: On the Rise
• Rising Significance of Software in Recreational Maritime Industry
• Marinas Look to Address Shortage of Berths for Megayachts
• Online Marketing Gradually Gains Momentum among Suppliers
• US and European Yacht Brokerage Market - A Synopsis
• Environmental Regulations: An Overview
• MARPOL Regulation 12A
• The Annex VI of MARPOL
• Delay in Adoption of IMO's Stringent Emissions Standards for Yachts
• Ballast Water Convention

4. GLOBAL MARKET PERSPECTIVE

IV. COMPETITION

• Total Companies Profiled: 214

For more information about this report visit https://www.researchandmarkets.com/r/4ua84t

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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KCS Urges Shareholders to Vote WHITE Proxy Card “FOR” CN Transaction

KANSAS CITY, Mo--(BUSINESS WIRE)--Kansas City Southern (NYSE: KSU) (“KCS”) today announced that leading independent proxy advisory firm Institutional Shareholder Services, Inc. (“ISS”) recommends KCS shareholders vote “FOR” the Company’s previously announced transaction with CN (TSX: CNR, NYSE: CNI) at KCS’ Special Meeting of Stockholders (the “Special Meeting”), to be held on August 19, 2021 at 9:00 a.m. Central Time.

In its August 6, 2021 report, ISS stated¹:

• “The premium, valuation, and strategic rationale for the transaction are compelling.”

• “While CP is soliciting votes against the transaction, it has not provided KSU shareholders with any actionable alternative, let alone one that bridges the divide between its initial offer and CNI's offer.”

• “In voting to approve the transaction, shareholders would lock in the break fee. They would also advance the deal one step closer to completion.”

“We are pleased that ISS supports our Board’s unanimous recommendation to vote “FOR” our combination with CN,” said Patrick J. Ottensmeyer, president and chief executive officer of KCS. “In its report, ISS validates our belief that CN is the ideal partner for KCS to power the resurgence of North America’s industrial and agricultural corridors and enhance competition, and that this transaction is in the best interest of KCS and all of our stakeholders. We strongly urge KCS shareholders to follow ISS’ recommendations and vote “FOR” the transaction today.”

As previously announced on May 21, 2021, KCS and CN entered into a definitive agreement, unanimously approved by the Board of Directors of each company, under which KCS shareholders will receive $200 in cash and 1.129 shares of CN common stock for each KCS common share. Upon closing of the transaction, KCS shareholders are expected to own approximately 12.65% of the combined company. KCS’ preferred shareholders will receive $37.50 in cash for each preferred share. All shareholders of record of KCS common stock and KCS 4% non-cumulative preferred stock as of the close of business on July 1, 2021 are entitled to vote their shares at the Special Meeting.

EVERY VOTE IS IMPORTANT! KCS SHAREHOLDERS ARE ENCOURAGED TO VOTE “FOR” THE CN TRANSACTION ON THE WHITE PROXY CARD TODAY!

KCS’ definitive proxy materials can be found on the SEC’s website at www.sec.gov. The proxy materials have been mailed to all shareholders eligible to vote at the Special Meeting, which can be accessed at meetings.computershare.com/MUKQC2H. KCS shareholders who need assistance or have questions regarding the KCS Special Meeting may contact KCS’s proxy solicitor:

For more information on CN’s combination with KCS, please visit www.ConnectedContinent.com.

About Kansas City Southern

Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com

Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to KCS, regarding the proposed transaction between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN and KCS caution that their assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, or the combined company, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to: the outcome of the proposed transaction between CN and KCS; the parties’ ability to consummate the proposed transaction; the conditions to the completion of the proposed transaction; that the regulatory approvals required for the proposed transaction may not be obtained on the terms expected or on the anticipated schedule or at all; CN’s indebtedness, including the substantial indebtedness CN expects to incur and assume in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; CN’s ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that CN may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate KCS’ operations with those of CN; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of KCS may be difficult; the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; the adverse impact of any termination or revocation by the Mexican government of KCS de México, S.A. de C.V.’s Concession; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management’s Discussion and Analysis in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors relating to CN. Additional risks that may affect KCS’ results of operations appear in Part I, Item 1A “Risks Related to KCS’ Operations and Business” of KCS’ Annual Report on Form 10-K for the year ended December 31, 2020, and in KCS’ other filings with the U.S. Securities and Exchange Commission (“SEC”).

Forward-looking statements reflect information as of the date on which they are made. CN and KCS assume no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN or KCS does update any forward-looking statement, no inference should be made that CN or KCS will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

No Offer or Solicitation

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities 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. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information and Where to Find It

In connection with the proposed transaction, CN has filed with the SEC a registration statement on Form F-4 to register the shares to be issued in connection with the proposed transaction, and the registration statement has been declared effective. CN has filed with the SEC its prospectus and KCS has filed with the SEC its definitive proxy statement in connection with the proposed transaction, and the KCS proxy statement is being sent to the stockholders of KCS seeking their approval of the merger-related proposals. This news release is not a substitute for the registration statement, the prospectus, the proxy statement or other documents CN and/or KCS may file with the SEC or applicable securities regulators in Canada in connection with the proposed transaction.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROSPECTUS, THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) BECAUSE THEY CONTAIN AND WILL CONTAIN IMPORTANT INFORMATION ABOUT CN, KCS AND THE PROPOSED TRANSACTION. Investors and security holders may obtain copies of these documents (if and when available) and other documents filed with the SEC and applicable securities regulators in Canada by CN free of charge through at www.sec.gov and www.sedar.com. Copies of the documents filed by CN (if and when available) will also be made available free of charge by accessing CN’s website at www.CN.ca. Copies of the documents filed by KCS (if and when available) will also be made available free of charge at www.investors.kcsouthern.com, upon written request delivered to KCS at 427 West 12th Street, Kansas City, Missouri 64105, Attention: Corporate Secretary, or by calling KCS’ Corporate Secretary’s Office by telephone at 1-888-800-3690 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

Participants

This news release is neither a solicitation of a proxy nor a substitute for the registration statement, the prospectus, the proxy statement or other filings that may be made with the SEC and applicable securities regulators in Canada. Nonetheless, CN, KCS, and certain of their directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about CN’s executive officers and directors is available in its 2021 Management Information Circular, dated March 9, 2021, as well as its 2020 Annual Report on Form 40-F filed with the SEC on February 1, 2021, in each case available on its website at www.CN.ca/investors/ and at www.sec.gov and www.sedar.com. Information about KCS’ directors and executive officers may be found on its website at www.kcsouthern.com and in its 2020 Annual Report on Form 10-K filed with the SEC on January 29, 2021, available at www.investors.kcsouthern.com and www.sec.gov. Additional information regarding the interests of such potential participants is or may be included in the registration statement, the prospectus, the proxy statement or other documents filed with the SEC and applicable securities regulators in Canada if and when they become available. These documents (if and when available) may be obtained free of charge from the SEC’s website at www.sec.gov and from www.sedar.com, as applicable.

____________________________
¹ Permission to use quotations neither sought nor obtained.

Media
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MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc. (Nasdaq: MGEE) today issued its second-quarter 2021 financial update presentation.

The update is available on MGE Energy's website at:

mgeenergy.com/financialupdate

About MGE Energy

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric, generates and distributes electricity to 157,000 customers in Dane County, Wis., and purchases and distributes natural gas to 166,000 customers in seven south-central and western Wisconsin counties. MGE's roots in the Madison area date back more than 150 years.

Investor relations contacts

Steve B. Schultz
Corporate Communications Manager
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Ken Frassetto
Director Shareholder Services and Treasury Management
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DUBLIN--(BUSINESS WIRE)--The "Light Tower Market Research Report by Light Type, by End Use, by Fuel Type, by Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Light Tower Market size was estimated at USD 4,822.71 Million in 2020 and expected to reach USD 5,130.50 Million in 2021, at a Compound Annual Growth Rate (CAGR) 6.72% to reach USD 7,124.91 Million by 2026.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Light Tower Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Light Tower Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Light Tower Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Light Tower Market?

4. What is the competitive strategic window for opportunities in the Global Light Tower Market?

5. What are the technology trends and regulatory frameworks in the Global Light Tower Market?

6. What is the market share of the leading vendors in the Global Light Tower Market?

7. What modes and strategic moves are considered suitable for entering the Global Light Tower Market?

Market Dynamics

Drivers

• Increasing popularity of solar equipped light towers
• Growing number of oil inventories and processing plants
• Stringent government rules promoting energy efficiency

Restraints

• High equipment cost of light tower

Opportunities

• Continuous advancements in construction industry
• Rising standard of living in developing nations and growing focus on better infrastructure like transportation and energy generation

Challenges

• Issues like battery problems and insufficient supply chain

Companies Mentioned

• Aska Equipments Limited
• Atlas Copco
• DMI Light Towers
• Generac Power Systems, Inc.
• LIGHT BOY CO., LTD.
• LTA Projects
• Olikara Lighting Towers Pvt. Ltd
• Progress Solar Solutions
• Terex Corporation
• Wacker Neuson SE

For more information about this report visit https://www.researchandmarkets.com/r/32k2a6

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Solar Panel Recycling Market 2020-2027 by Process (Mechanical, Thermal, Laser, Chemical), Panel Type (Monocrystalline, Polycrystalline, Thin Film), Shelf Life (Early Loss, Normal Loss), and Country: Trend Outlook and Growth Opportunity" report has been added to ResearchAndMarkets.com's offering.

Asia Pacific solar panel recycling market will grow by 21.8% annually with a total addressable market cap of $399.4 million over 2021-2027 driven by the growing demand for clean energy, increasing growing adoption of solar power, and rising support of the government toward sustainable development.

Highlighted with 28 tables and 36 figures, this report is based on a comprehensive research of the entire Asia Pacific solar panel recycling market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate/forecast from 2020 till 2027 with 2019 as the base year.

Companies Mentioned

• Canadian Solar Inc.
• EIKI SHOJI Co. Ltd.
• First Solar Inc.
• Interco Trading Inc.
• PV Cycle a.i.s.b.l.
• Reclaim PV Recycling Pty Ltd.
• Reiling GmbH & Co. KG
• REMA PV System AS
• Rinovasol GMBH
• Sharp Corporation
• Silcontel Ltd.
• SunPower Corporation
• Trina Solar Co., Ltd.
• Yingli Energy Co. Ltd.

In-depth qualitative analyses include identification and investigation of the following aspects:

• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter's Fiver Forces

The trend and outlook of Asia Pacific market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify Asia Pacific solar panel recycling market in every aspect of the classification from perspectives of Process, Panel Type, Shelf Life, and Country.

Key Topics Covered:

1 Introduction

1.1 Industry Definition and Research Scope

1.1.1 Industry Definition

1.1.2 Research Scope

1.2 Research Methodology

1.2.1 Overview of Market Research Methodology

1.2.2 Market Assumption

1.2.3 Secondary Data

1.2.4 Primary Data

1.2.5 Data Filtration and Model Design

1.2.6 Market Size/Share Estimation

1.2.7 Research Limitations

1.3 Executive Summary

2 Market Overview and Dynamics

2.1 Market Size and Forecast

2.1.1 Impact of COVID-19 on World Economy

2.1.2 Impact of COVID-19 on the Market

2.2 Major Growth Drivers

2.3 Market Restraints and Challenges

2.4 Emerging Opportunities and Market Trends

2.5 Porter's Five Forces Analysis

3 Segmentation of Asia Pacific Market by Process

3.1 Market Overview by Process

3.2 Mechanical Recycling

3.3 Thermal Recycling

3.4 Laser Recycling

3.5 Chemical Recycling

3.6 Other Processes

4 Segmentation of Asia Pacific Market by Panel Type

4.1 Market Overview by Panel Type

4.2 Monocrystalline Solar Panels

4.3 Polycrystalline Solar Panels

4.4 Thin Film Solar Panels

5 Segmentation of Asia Pacific Market by Shelf Life

5.1 Market Overview by Shelf Life

5.2 Early Loss

5.3 Normal Loss

6 Asia-Pacific Market 2020-2027 by Country

6.1 Overview of Asia-Pacific Market

6.2 China

6.3 Japan

6.4 India

6.5 Australia

6.6 South Korea

6.7 Rest of APAC Region

7 Competitive Landscape

7.1 Overview of Key Vendors

7.2 New Product Launch, Partnership, Investment, and M&A

7.3 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/jqk4h1

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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EWING, N.J.--(BUSINESS WIRE)--$OLED #BankofAmerica--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, today announced its participation in the following investor and industry conferences.

Investor Conferences:

Oppenheimer 24th Annual Technology, Internet & Communications Conference
Date: August 11, 2021
Presentation Time: 10:45 AM ET*
Location: Virtual
Presenter: Sidney Rosenblatt, Executive Vice President and CFO

Bank of America (BofA) Securities Tech Innovation Tour – OLED & Memory
Date: August 23, 2021
Presentation Time: 8:00 PM ET/8:00 AM HKT +1
Location: Virtual
Presenter: Darice Liu, Senior Director, Investor Relations & Corporate Communications

* A live and archived audio webcast of the investor presentations will be available on the events page of the Company's Investor Relations website at ir.oled.com.

Industry Conference:

2021 IMID – The 21^st International Meeting on Information Display
Date: August 25-27, 2021
Location: Virtual/Seoul, Korea

Keynote Speaker: Dr. Julie Brown, Executive Vice President & CTO
Keynote Address: Next Frontiers in OLED Technology

Presenter: Dr. Mike Hack, Vice President of Business Development
Presentation: High-Color-Gamut OLED Displays with Reduced Power Consumption for Laptop Applications (UDC/Intel joint paper)

Presenter: Dr. Nicholas Thompson, Senior R&D Manager
Presentation: Increasing OLED Stability: Plasmonic PHOLED

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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Universal Display:
Darice Liu
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Investment will support the company’s digital transformation

HOUSTON--(BUSINESS WIRE)--Phillips 66 is driving to expand its advanced analytics capabilities with an investment supporting Seeq, a developer of software applications for analyzing and sharing insights on process manufacturing data.

The investment is through the Altira Group, a venture capital firm that counts Seeq as one of its portfolio companies. It is the first investment by Phillips 66’s Digital Ventures organization, which is part of the AdvantEdge66 program launched by the company to drive digital transformation and innovation.

“Data can yield incredible value and insights when properly gathered and refined through advanced analytics,” said Zhanna Golodryga, Senior Vice President and Chief Digital and Administrative Officer for Phillips 66. “That’s why it’s important for us to collaborate with companies to advance innovation in the digital and analytics spaces. This investment provides a pathway for us to help Seeq grow and continue to improve its products, which we believe will be beneficial for our digital transformation journey.”

Seeq is a privately held virtual company headquartered in Seattle with a comprehensive set of process manufacturing and Industrial Internet of Things software applications. These applications, which include time-series data visualization tools, enable stakeholders to rapidly investigate, collaborate and distribute insights to improve operations and business outcomes.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $57 billion of assets as of June 30, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

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WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) today reported financial results for the second quarter ended June 30, 2021.

“Increased activity at our gasoline stations and convenience markets drove strong performance in our Gasoline Distribution and Station Operations (GDSO) segment in the second quarter,” said Eric Slifka, Global’s President and Chief Executive Officer. “Consistent with industry trends, retail fuel margins remained relatively healthy in the quarter despite the rising commodity price environment.

“In our Wholesale segment, the impact of the extraordinary market events and the flattening of the forward-product pricing curve that occurred in the second quarter of 2020 create a difficult comparison with the same period this year. However, the Wholesale segment’s performance in this year’s second quarter was consistent with our expectations,” Slifka said.

Financial Highlights

Net income attributable to the Partnership was $12.1 million, or $0.23 per diluted common limited partner unit, for the second quarter of 2021 compared with net income attributable to the Partnership of $76.3 million, or $2.17 per diluted common limited partner unit, for the same period of 2020.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $58.5 million in the second quarter of 2021 compared with $125.7 million in the comparable period of 2020.

Adjusted EBITDA was $58.7 million in the second quarter of 2021 versus $126.6 million in the year-earlier period.

Distributable cash flow (DCF) was $26.6 million in the second quarter of 2021 compared with $95.8 million in the same period of 2020.

Gross profit in the second quarter of 2021 was $178.0 million compared with $239.9 million in the first quarter of 2020.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $198.6 million in the second quarter of 2021 compared with $260.1 million in the second quarter of 2020.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and six months ended June 30, 2021 and 2020.

GDSO segment product margin was $162.4 million in the second quarter of 2021 compared with $145.6 million in the second quarter of 2020, primarily reflecting increased activity at our convenience stores and, to a lesser extent, an increase in fuel volume.

Wholesale segment product margin was $33.5 million in the second quarter of 2021 compared with $112.0 million in the second quarter of 2020, reflecting more favorable market conditions in the 2020 period resulting from a significant recovery in the supply/demand imbalance at the end of the first quarter and resultant flattening of the forward product pricing curve.

Commercial segment product margin was $2.7 million compared with $2.5 million in the second quarter of 2020.

Sales were $3.3 billion in the second quarter of 2021 compared with $1.5 billion in the same period of 2020, reflecting increases in volume and prices. Wholesale segment sales increased to $2.0 billion in the second quarter of 2021 from $0.8 billion in the year-earlier period. GDSO segment sales were $1.1 billion in the second quarter of 2021 versus $0.6 billion in the second quarter of 2020. Commercial segment sales were $135.2 million in the second quarter of 2021 compared with $66.2 million in the second quarter of 2020.

Volume in the second quarter of 2021 was 1.4 billion gallons compared with 1.2 billion gallons in the same period of 2020. Wholesale segment volume was 943.6 million gallons in the second quarter of 2021 and 862.8 million gallons in the second quarter of 2020. GDSO volume was 395.1 million gallons in the second quarter of 2021 compared with 278.6 million gallons in the second quarter of 2020. Commercial segment volume was 68.5 million gallons in the second quarter of 2021 compared with 56.8 million gallons in the year-earlier period.

Recent Developments

• In July, Global announced a quarterly cash distribution of $0.5750 per unit, or $2.30 per unit on an annualized basis, on all of its outstanding common units for the period from April 1 to June 30, 2021. The distribution will be paid August 13, 2021 to unitholders of record as of the close of business on August 9, 2021.
• In May, Global entered into an amended credit agreement that extended the maturity date from April 2022 to May 2024, reduced the applicable rate for borrowings and letters of credit, increased the working capital revolving credit facility from $770 million to $800 million, and increased the revolving credit facility from $400 million to $450 million.

Business Outlook

“Looking ahead, we remain committed to building on the strength of our terminal and retail portfolio through strategic acquisitions and organic growth initiatives ─ raze-and-rebuilds, new-to-industry locations and site enhancements ─ that enable us to deliver value, quality and hospitality for our guests,” added Slifka. “We recognize a growing change in consumer demands and fueling habits and are positioning ourselves to be a location of choice, whatever the fuel type may be. We continue to prepare select retail sites for EV infrastructure, explore other green technologies, and expand our café, Wi-Fi, and fresh food options in addition to rolling out touch-free purchase options. Our fuel terminals and gas stations remain integral to the energy needs of the regions we serve. In the near term, we remain mindful of the economic uncertainty related to COVID-19, as states and communities weigh a return to restrictions in response to the Delta variant.”

The extent to which the COVID-19 pandemic may affect our operating results remains uncertain. The COVID-19 pandemic has had, and may continue to have, material adverse consequences for general economic, financial and business conditions, and could materially and adversely affect our business, financial condition and results of operations and those of our customers, suppliers and other counterparties.

Financial Results Conference Call

Management will review the Partnership’s second-quarter 2021 financial results in a teleconference call for analysts and investors today.

Due to the expected high demand on our conference call provider, please plan to dial in to the call at least 20 minutes prior to the start time. The call also will be webcast live and archived on Global’s website, https://ir.globalp.com.

Use of Non-GAAP Financial Measures

Product Margin

Global Partners views product margin as an important performance measure of the core profitability of its operations. The Partnership reviews product margin monthly for consistency and trend analysis. Global Partners defines product margin as product sales minus product costs. Product sales primarily include sales of unbranded and branded gasoline, distillates, residual oil, renewable fuels, crude oil and propane, as well as convenience store sales, gasoline station rental income and revenue generated from logistics activities when the Partnership engages in the storage, transloading and shipment of products owned by others. Product costs include the cost of acquiring products and all associated costs including shipping and handling costs to bring such products to the point of sale as well as product costs related to convenience store items and costs associated with logistics activities. The Partnership also looks at product margin on a per unit basis (product margin divided by volume). Product margin is a non-GAAP financial measure used by management and external users of the Partnership’s consolidated financial statements to assess its business. Product margin should not be considered an alternative to net income, operating income, cash flow from operations, or any other measure of financial performance presented in accordance with GAAP. In addition, product margin may not be comparable to product margin or a similarly titled measure of other companies.

EBITDA and Adjusted EBITDA

EBITDA and Adjusted EBITDA are non-GAAP financial measures used as supplemental financial measures by management and may be used by external users of Global Partners’ consolidated financial statements, such as investors, commercial banks and research analysts, to assess the Partnership’s:

• compliance with certain financial covenants included in its debt agreements;
• financial performance without regard to financing methods, capital structure, income taxes or historical cost basis;
• ability to generate cash sufficient to pay interest on its indebtedness and to make distributions to its partners;
• operating performance and return on invested capital as compared to those of other companies in the wholesale, marketing, storing and distribution of refined petroleum products, gasoline blendstocks, renewable fuels, crude oil and propane, and in the gasoline stations and convenience stores business, without regard to financing methods and capital structure; and
• viability of acquisitions and capital expenditure projects and the overall rates of return of alternative investment opportunities.

Adjusted EBITDA is EBITDA further adjusted for gains or losses on the sale and disposition of assets and goodwill and long-lived asset impairment charges. EBITDA and Adjusted EBITDA should not be considered as alternatives to net income, operating income, cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. EBITDA and Adjusted EBITDA exclude some, but not all, items that affect net income, and these measures may vary among other companies. Therefore, EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures of other companies.

Distributable Cash Flow

Distributable cash flow is an important non-GAAP financial measure for the Partnership’s limited partners since it serves as an indicator of success in providing a cash return on their investment. Distributable cash flow as defined by the Partnership’s partnership agreement is net income plus depreciation and amortization minus maintenance capital expenditures, as well as adjustments to eliminate items approved by the audit committee of the board of directors of the Partnership’s general partner that are extraordinary or non-recurring in nature and that would otherwise increase distributable cash flow.

Distributable cash flow as used in our partnership agreement also determines our ability to make cash distributions on our incentive distribution rights. The investment community also uses a distributable cash flow metric similar to the metric used in our partnership agreement with respect to publicly traded partnerships to indicate whether or not such partnerships have generated sufficient earnings on a current or historic level that can sustain distributions on preferred or common units or support an increase in quarterly cash distributions on common units. Our partnership agreement does not permit adjustments for certain non-cash items, such as net losses on the sale and disposition of assets and goodwill and long-lived asset impairment charges.

Distributable cash flow should not be considered as an alternative to net income, operating income, cash flow from operations, or any other measure of financial performance presented in accordance with GAAP. In addition, distributable cash flow may not be comparable to distributable cash flow or similarly titled measures of other companies.

About Global Partners LP

With approximately 1,550 locations primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit www.globalp.com.

Forward-looking Statements

Certain statements and information in this press release may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Global’s current expectations and beliefs concerning future developments and their potential effect on the Partnership. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) including, without limitation, the impact and duration of the COVID-19 pandemic, uncertainty around the timing of an economic recovery in the United States which will impact the demand for the products we sell and the services that we provide, uncertainty around the impact of the COVID-19 pandemic to our counterparties and our customers and their corresponding ability to perform their obligations and/or utilize the products we sell and/or services we provide, uncertainty around the impact and duration of federal, state and municipal regulations related to the COVID-19 pandemic, and assumptions that could cause actual results to differ materially from the Partnership’s historical experience and present expectations or projections.

For additional information regarding known material factors that could cause actual results to differ from the Partnership’s projected results, please see Global’s filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Global undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Daphne H. Foster
Chief Financial Officer
Global Partners LP
(781) 894-8800

Sean T. Geary
Acting General Counsel and Vice President – Mergers & Acquisitions
Global Partners LP
(781) 894-8800

NextGen to fight for co-op members, rural Americans, getting left behind in the energy transition

DURANGO, Colo. & TAOS, N.M.--(BUSINESS WIRE)--Today, a group of electricity distribution cooperatives launched the NextGen Co-op Alliance (NextGen), that focuses on increasing flexibility and the opportunity to partner with local communities on future energy needs.

“Most distribution cooperatives are locked into one-sided Generation and Transmission (G&T) contracts spanning decades that are a relic of another time in the power supply business,” said Jessica Matlock, NextGen Chair and CEO of La Plata Electric Association in Durango, Colo. “Distribution cooperative members—many of whom are rural Americans—are getting left behind in the energy transition that offers more local control and community benefits, as well as cost-effective and cleaner energy solutions. We’re partnering together to identify and advance energy transition options that provide cooperatives with more local control and flexibility to help better position cooperatives and our communities in the new energy economy.”

NextGen was formed to:

• Reform the outdated G&T business model that is a relic of another time where electrification at scale was the goal.
• Realign decision-making and governance at the community level. Rural communities should not just be the passive recipients of power; co-ops can assist in reaching community goals by developing their own approaches tailored to their own needs, leveraging and partnering with local resources, and better meeting member-owner desires.
• Restore balance to the relationship between distribution cooperatives and G&T cooperative power suppliers.

The NextGen members are working together to establish more equitable and flexible agreements with power providers – whether a G&T or an independent wholesaler. NextGen founding members are:

• Jessica Matlock, NextGen Chair
  CEO, La Plata Electric Association, Inc., Durango, Colo.
• Luis Reyes, NextGen Vice Chair
  CEO, Kit Carson Electric Cooperative, Taos, N.M.
• Ron Holcomb, NextGen Treasurer
  CEO, Tipmont Rural Electric Membership Corporation, Linden, Ind.
• Chad Felderman, NextGen Secretary
  CEO, Dakota Energy Cooperative, Huron, S.D.
• Brad Zaporski, NextGen Board Member

CEO, San Miguel Power Association, Ridgway, Colo.

“Distribution co-ops exist to give their members what they want, not what they are restricted to do based on outdated, decades-long contracts with power providers,” said Luis Reyes, NextGen Vice Chair and CEO of Kit Carson Electric Cooperative in Taos, N.M. “Community members across the country know what they want. Many want more locally generated power sources that can contribute to local economies. Some want cleaner energy. Some want new services like broadband and EV infrastructure. Co-ops have a duty to meet those member demands, unencumbered by G&T interference. Why should some communities be prevented from leveraging the competitive energy marketplace in order to secure favorable and stable wholesale power rates? It’s not right. It needs to change.”

About NextGen Co-op Alliance

NextGen Co-op Alliance (NextGen) is a nonprofit association founded and led by distribution cooperative CEOs looking for better ways to supply electricity to their communities. NextGen provides distribution cooperatives a collective voice for advocacy and a community-approach to education and shared solutions. NextGen distribution cooperative members bring a shared desire for more economical and flexible approaches to managing wholesale power supply that empower each to uniquely deliver on their local community electricity goals.

Jill Petersen
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 Longtime Manufacturing and Technology Executive in the Automotive and Energy Solutions Industries to Lead Next Chapter of Romeo’s Growth

LOS ANGELES--(BUSINESS WIRE)--Romeo Power (NYSE: RMO) (“Romeo Power” or the “Company”) today announced that its Board of Directors (the “Board”) appointed Susan Brennan as President and Chief Executive Officer, effective as of August 16, 2021. Ms. Brennan brings to the role more than 30 years of experience as a global leader in the automotive and energy industries. She most recently held the role of Chief Operations Officer at Bloom Energy Corporation (“Bloom Energy”), a pioneering energy solutions business focused on decarbonization through innovation and environmental stewardship.

Ms. Brennan is succeeding Lionel Selwood, Jr., who is stepping down as President and CEO and as a member of the Company’s Board to pursue new opportunities. Mr. Selwood will serve as senior advisor and consultant to the Company to facilitate a smooth leadership transition.

“Romeo Power is on the path towards significant advancement in the EV battery market, with the goal of powering the transition to full electrification of commercial and industrial vehicles,” said Robert Mancini, Chairman of the Board of Romeo Power. “As we advance our journey as a public company and look to substantially increase commercial production, Susan is the ideal executive to lead our expanded and talented management team given her impressive record of driving meaningful growth, innovation and operations excellence in the automotive and energy industries. Her direct experience helping scale Bloom Energy from a distributed power startup to a fully operational public company makes her ideally suited to lead Romeo Power as it grows to meet the needs of the most demanding commercial vehicle manufacturers. Susan has delivered superb industry and ESG expertise to our Board since Romeo Power became a public company in December 2020, and we are confident in her ability to lead the company through its next phase of growth.”

Mr. Mancini continued: “Lionel has worked tirelessly over the last four and a half years, and past year as CEO, to help Romeo Power successfully become a publicly traded company and achieve key strategic commercial and supply chain partnerships. All of us on the Board wish him well in his future endeavors.”

Ms. Brennan brings to Romeo Power extensive experience developing, implementing and scaling the production of automotive and energy technologies, and has expertise in key areas including operations, strategy and manufacturing. In her most recent role at Bloom Energy, Ms. Brennan was responsible for driving pioneering green technology initiatives, including non-combustion energy technologies. She also increased Bloom Energy’s manufacturing capacity by four times with a particular focus on maximizing capital efficiency.

Prior to joining Bloom Energy, Ms. Brennan was the Vice President of Manufacturing at Nissan Motor Company, where she ran the highest output automotive manufacturing plant in the world, at that time. Previously, she spent 13 years at Ford Motor Company, holding multiples roles including Director of the Global Manufacturing Business Office and Director of Manufacturing Operations. She also serves as a Non-Executive Board Director for Senior PLC, a FTSE 350 corporation in the aerospace and automotive industry. Ms. Brennan holds an M.B.A. from the University of Nebraska at Omaha and a B.S. in Microbiology from the University of Illinois.

“I am grateful for this opportunity to lead Romeo Power in its revolutionary effort to provide clean battery technology for the commercial and industrial transportation industry,” said Ms. Brennan. “I am deeply impressed by Romeo Power’s commitment to EV battery innovation and sustainability, and working alongside the talented leadership team, I envision numerous opportunities to drive our next phase of growth. Romeo Power’s employees are among the most talented and dedicated in the industry, and I look forward to working together in this new role as we help electrify our nation’s commercial vehicle fleets.”

Ms. Brennan will retain her seat on Romeo Power’s Board; however, she has stepped down from the Nominating and Governance Committee of the Board. Donald Gottwald, a current member of the Board, was appointed to the Nominating and Governance Committee of the Board and will Chair that committee.

In addition, the Company also announced several changes designed to continue to broaden its Board’s expertise:

• Kerry Shiba, Romeo Power’s Chief Financial Officer, was named Board Observer;
• Matthew Sant, Romeo Power’s General Counsel, was named Company Secretary; and
• Laurene Horiszny, an executive with more than 30 years of automotive industry experience and 20 years of service advising boards, was appointed to serve as a member of the Board and a member of the Finance and Investment Committee of the Board. She replaces Brady Ericson who has elected to move off the Board.

About Romeo Power

Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The company’s suite of advanced hardware, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. Romeo Power's 113,000 square-foot manufacturing facility brings its flexible design and development process inhouse to pack the most energy dense modules on the market. To keep up with everything Romeo Power, please follow the company on social @romeopowerinc or visit romeopower.com.

Notice Regarding Forward Looking Statements

Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Romeo Power in general, see the risk disclosures in Romeo Power’s Annual Report on Form 10-K for the year ended December 31, 2020 and in other filings made with the SEC by Romeo Power. Forward-looking statements speak only as of the date they are made and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

For Media
Taylor Cantwell
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833.467.2237

For Investors
Sam Dundee
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833.467.2237

DDK Positioning will provide services and Topcon hardware to Oceaneering International

LIVERMORE, Calif.--(BUSINESS WIRE)--#DDK--Topcon Positioning Systems announces it has entered into an original equipment manufacturer (OEM) contract with DDK Positioning Ltd. to supply Global Navigation Satellite System (GNSS) hardware components. Founded in 2016 by a highly skilled team with extensive experience in the positioning field, DDK Positioning has combined technical ingenuity with the Iridium ^® satellite network to create a robust, resilient and completely independent GNSS-augmenting positioning solution.

Topcon OEM GNSS components will be used by DDK Positioning to deliver their MAX services to Oceaneering International, Inc.’s clients. These clients, primarily in the marine energy sector, can achieve accuracy to less than 5 centimeters with this new service. Oceaneering recently conducted an extensive review of how it delivers positioning services to its clients and evaluated the significant advances made in communications infrastructure and services over recent years. Recently, Oceaneering announced an exclusive agreement with DDK Positioning to be the new provider of products and services to the offshore maritime market, delivered through the Iridium network and with Topcon OEM GNSS products.

“Our extensive research of receivers in the market, and the performance of Topcon, made the decision for our route going forward,” said Kevin Gaffney, CEO of DDK Positioning. “Topcon’s experience, their extensive support network and leadership will allow us to effectively support multiple clients, in addition to Oceaneering. We see this as a long-term partnership. Both companies worked tirelessly to bring this together.”

Ian Stilgoe, vice president of Topcon emerging business, said, “With Topcon Positioning Systems’ extensive history in precise positioning, providing high performance and quality GNSS boards, antennas and receivers to the OEM industry for over 20 years, the company is well-positioned to supply DDK Positioning with the hardware needed to support their clients globally. Working closely with DDK Positioning and Iridium was key to meet the requirements of Oceaneering and the maritime market. Topcon is pleased to be part of this effort to bring the latest positioning technology to this market segment.”

About DDK Positioning Ltd.

Founded in 2016 by a highly skilled team of industry experts, with extensive experience in the positioning field, DDK has combined technical ingenuity with Iridium’s satellite constellations network to create a robust, resilient and completely independent GNSS solution. Learn more at www.ddkpositioning.com.

About Oceaneering International, Inc.

Oceaneering is a global provider of engineered services and products, primarily to the offshore energy industry. Through the use of its applied technology expertise, Oceaneering also serves the defense, aerospace, and entertainment industries. Learn more about C-NAV Positioning Solutions at www.oceaneering.com/positioning-solutions.

About Topcon Positioning Group

Topcon Positioning Group, always one step ahead in technology and customer benefits, is an industry leading designer, manufacturer and distributor of precision measurement and workflow solutions for the global construction, geospatial and agriculture markets. Topcon Positioning Group is headquartered in Livermore, California, U.S. (topconpositioning.com, LinkedIn, Twitter, Facebook). Its European head office is in Capelle a/d IJssel, the Netherlands. Topcon Corporation (topcon.com), founded in 1932, is traded on the Tokyo Stock Exchange (7732).

Press Contact:
Topcon Positioning Group
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Staci Fitzgerald, +1 925-245-8610

Company to Report Q2 2021 Results on August 12, 2021

BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced that it will release its financial results for the second quarter ended June 30, 2021 on Thursday, August 12, 2021 and will host a conference call the same day at 9:00 AM ET to discuss its results.

To access the call please dial (833) 952-1516 from the United States, or (236) 714-2129 from outside the U.S. The conference call I.D. number is 1738845. Participants should dial in 5 to 10 minutes before the scheduled time.

A replay of the call can also be accessed via phone through August 26, 2021 by dialing (800) 585-8367 from the U.S., or (416) 621-4642 from outside the U.S. The conference I.D. number is 1738845.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a US corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents issued (or pending) for its fuel cell technology, Advent holds the IP for next-generation high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible "Any Fuel. Anywhere." option for the automotive, maritime, aviation, and power generation sectors. For more information, visit www.Advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Advent Technologies Holdings, Inc.
Elisabeth Maragoula
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Sloane & Company
James Goldfarb / Emily Mohr
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HOUSTON--(BUSINESS WIRE)--Tellurian Inc. (Tellurian or the Company) (Nasdaq: TELL) today announced that it has closed its previously announced public offering of 35,000,000 shares of common stock at a public offering price of $3.00 per share. Proceeds from the offering, after deducting underwriting discounts and commissions and estimated fees and expenses, were approximately $100.7 million. B. Riley Securities, Inc. acted as the sole bookrunner for the offering. The Company has granted the underwriter of the offering a 30-day option to purchase up to 5,250,000 additional shares of common stock of the Company to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets.

The offering was made pursuant to an effective shelf registration statement of the Company previously filed with the Securities and Exchange Commission (the “SEC”). The offering was made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement for the offering and the accompanying prospectus may be obtained by sending a request to B. Riley Securities, Inc., Attention: Prospectus Department, 1300 North 17th Street, Suite 1300, Arlington, Virginia 22209; Telephone: (703) 312-9580, or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Tellurian Inc.

Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol “TELL.”

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

Statements in this press release related to the use of proceeds from the Company’s public offering of common stock and all other statements other than statements of historical fact are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from the forward-looking statements. Tellurian urges you to carefully review and consider the cautionary statements made in this press release, the registration statement, the “Risk Factors” section of the prospectus supplement for the offering and of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and other filings with the SEC for further information on risks and uncertainties that could affect the Company’s business, financial condition and results of operations. The Company cautions you not to place undue reliance on forward-looking statements, which speak only as of the date made. Tellurian undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this press release or currently unknown facts or conditions or the occurrence of unanticipated events. All forward-looking statements are qualified in their entirety by this cautionary statement.

Media:
Joi Lecznar
EVP Public and Government Affairs
Phone +1.832.962.4044
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Investors:
Matt Phillips
Vice President, Investor Relations
Phone +1.832.320.9331
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WESTLAKE, Texas--(BUSINESS WIRE)--Pipeline Plastics, LLC Board of Directors announced today that they have promoted Mike Leathers to Chief Executive Officer.

Leathers, who has been serving as the President & Chief Operating Officer of Pipeline Plastics, will continue to champion Pipeline Plastics’ role within the industry as a leading manufacturer of leak-free, corrosion-resistant HDPE pressure pipe with capacity up to 65” in diameter. Mike has been pivotal in the diversification of the company into the natural gas distribution pipe segment and in the geographic expansion with a new plant in North Carolina.

"We are pleased to announce Mike's promotion within the organization," said Monty Fisher, Founder, and board member. "We have built a great company and Mike will continue PLP’s growth and value creation," Fisher elaborated.

"Mike has shown great leadership and we couldn't be more excited about his new position in our organization," said Ernie Danner, chairman of the board at Pipeline Plastics, an Operating Partner at SCF Partners, LLC, a major investor in Pipeline Plastics.

Mike Leathers has been a member of the Pipeline Plastics leadership team since 2018. Prior to joining Pipeline Plastics, Mike was President & Executive Vice President for Thompson Pipe Group.

"I am thrilled to continue working alongside our amazing team at Pipeline Plastics," said Leathers. "The support I've received from the board has been incredible and I am excited about this new opportunity."

Pipeline Plastics is a Westlake-based manufacturer of high-performance polyethylene pipe used primarily for water infrastructure in oil and gas, mining, industrial and municipal applications. (www.pipe.us)

RITA QUINTERO, (817)693-7100, This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--ECA MARCELLUS TRUST I (OTC Pink: ECTM) announced today that the Trust’s distribution for the quarter ended June 30, 2021 will be $0.028 per unit, which is expected to be distributed on or before August 31, 2021 to holders of record as of the close of business on August 20, 2021.

As previously disclosed, commencing with the distribution to unitholders paid in the first quarter of 2019, the Trustee has withheld, and in the future intends to withhold, the greater of $90,000 or 10% of the funds otherwise available for distribution each quarter to gradually build a cash reserve of approximately $1,800,000. This cash is reserved to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities of the Trust. The Trustee may increase or decrease the targeted amount at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the trust agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities of the Trust eventually will be distributed to unitholders, together with interest earned on the funds. The Trustee has elected to withhold approximately $90,000 from funds otherwise available for distribution this quarter.

The Trust was formed to own royalty interests in natural gas properties now held by Greylock Energy LLC, and certain of its wholly owned subsidiaries (“Greylock”) in the Marcellus Shale formation in Greene County, Pennsylvania. The Trust is entitled to receive certain amounts of the proceeds attributable to Greylock’s interest in the sale of production from the properties. As described in the Trust's filings, the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of production and natural gas prices and the amount of the Trust's administrative expenses, among other factors. The amount of proceeds received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which declined during 2020 primarily attributable to the economic effects of the COVID-19 pandemic and could remain low for an extended period of time. Continued low natural gas prices will reduce proceeds to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.

Pursuant to IRC Section 1446, withholding tax on income effectively connected to a United States trade or business allocated to non-U.S. persons (“ECI”) should be made at the highest marginal rate. Under Section 1441, withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to non-U.S. persons should be made at a 30% rate unless the rate is reduced by treaty. This release is intended to be a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) by ECA Marcellus Trust I, and while specific relief is not specified for Section 1441 income, this disclosure is intended to suffice. For distributions made to non-U.S. persons, nominees and brokers should withhold at the highest marginal rate.

This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are "forward-looking statements" for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unit holders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Greylock with respect to the relevant quarterly period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither Greylock nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in Common Units issued by ECA Marcellus Trust I is subject to the risks described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2020, and all of its other filings with the Securities and Exchange Commission. The Trust's annual, quarterly and other filed reports are or will be available over the Internet at the SEC's web site at http://www.sec.gov.

ECA Marcellus Trust I
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555