LONDON--(BUSINESS WIRE)--#ORM--The global operational risk management (ORM) software applications market will grow from $1.5 billion in 2020, at a CAGR of 9%, to $2.6 billion in 2026 according to a new study from independent research firm Verdantix. Verdantix research finds that the post-COVID-19 ORM software market is driven by maturation of the market, rise in remote operations, pandemic driven growth in digitization to support lean operations, real-time risk management enablement, and safe operations rising to the top of executive priority lists. Vendors positioned to benefit from this growth include ORM software providers such as AdaptIT, CONFORMiT, Enablon, Go-Arc, MODS Management, NiSoft, RiskPoynt, SAP, Sphera, Tenforce and Yokowaga RAP.

“As expected, the COVID-19 pandemic significantly slowed the ORM software market’s nominal growth rate throughout 2020, but it proved fairly resilient,” commented Malavika Tohani, Research Director, Operational Excellence. “To maximize growth, ORM software providers must broaden their offerings to cover process safety management (PSM), have an open architecture to support greater integrations with industrial systems and incorporate digital twins to visually communicate risk.”

The Verdantix report, Market Size And Forecast: Operational Risk Management Software Applications 2020-2026 (Global), provides executives at ORM software providers, systems integrators and financial investors with the information they need to inform business planning and strategy. The model breaks down the market size and forecast trends across 16 industry segments specified by asset class and 10 economic regions. Oil and gas industries accounted for over one-third (34%) of ORM software spend in 2020, followed by manufacturing (25%) and power distribution and generation (18%). The ORM software market is forecast to experience the highest growth in spend from South Asia and China growing at a double-digit CAGR from 2020 to 2026 and will witness increased uptake amongst all industries, with the fastest growth in chemicals.

“The market is set for strong growth between 2021 and 2026,” commented Hugo Fuller, Verdantix Analyst. “To exploit the attractive market opportunity, ORM software suppliers need to expand their offerings to provide an integrated solution for PSM, incorporate digital twins to collate risks into a single source and communicate them visually, and have an open architecture to support easy integration with external systems.”

Isobel Calisse
This email address is being protected from spambots. You need JavaScript enabled to view it.

Offers are for 23 Series of Notes Issued by Chevron and Certain of its Subsidiaries

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (“Chevron”, NYSE: CVX) today announced the commencement of 23 separate offers (the “Offers”) to purchase for cash up to $2.0 billion aggregate principal amount of outstanding notes of the series listed in the table below (collectively, the “Notes”). Subject to the Maximum Purchase Condition (as defined below), the series of Notes that are purchased in the Offers will be based on the acceptance priority levels (each, an “Acceptance Priority Level”) set forth in the table below. If a given series of Notes is accepted for purchase pursuant to the Offers, all Notes of that series that are validly tendered will be accepted for purchase. No series of Notes will be subject to proration pursuant to the Offers.

The Offers are made upon the terms and subject to the conditions set forth in the Offer to Purchase dated October 4, 2021 relating to the Notes (the “Offer to Purchase”) and the accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery”) and, as applicable, the letter of transmittal (the “Letter of Transmittal” and, together with the Offer to Purchase and Notice of Guaranteed Delivery, the “Tender Offer Documents”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.

The Offers will each expire at 5:00 p.m. (Eastern time) on October 8, 2021, unless extended or earlier terminated (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Expiration Date”). Notes may be validly withdrawn at any time at or prior to 5:00 p.m. (Eastern time) on the Expiration Date (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Withdrawal Date”), but not thereafter, unless extended by Chevron.

For Holders who deliver a Notice of Guaranteed Delivery and all other required documentation at or prior to the Expiration Date, upon the terms and subject to the conditions set forth in the Tender Offer Documents, the deadline to validly tender Notes using the Guaranteed Delivery Procedures will be the second business day after the Expiration Date and is expected to be 5:00 p.m. (Eastern time) on October 13, 2021 (the “Guaranteed Delivery Date”).

The Initial Settlement Date will be the first business day after the Expiration Date and is expected to be October 12, 2021. The Guaranteed Delivery Settlement Date will be the first business day after the Guaranteed Delivery Date and is expected to be October 14, 2021. Each of the Initial Settlement Date and the Guaranteed Delivery Settlement Date is herein referred to as a “Settlement Date.”

Upon the terms and subject to the conditions set forth in the Offer to Purchase, Holders whose Notes are accepted for purchase in the Offers will receive the applicable Total Consideration for each $1,000 principal amount of such Notes in cash on the applicable Settlement Date. Promptly after 2:00 p.m. (Eastern time) on October 8, 2021, the Price Determination Date, unless extended with respect to any Offer, Chevron will issue a press release specifying, among other things, the Total Consideration for each series of Notes validly tendered and accepted.

In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase will receive a cash payment equal to the accrued and unpaid interest on such Notes from and including the immediately preceding interest payment date for such Notes to, but excluding, the Initial Settlement Date (the “Accrued Coupon Payment”). Interest will cease to accrue on the Initial Settlement Date for all Notes accepted in the Offers and Holders whose Notes are tendered pursuant to the Guaranteed Delivery Procedures and are accepted for purchase will not receive payment in respect of any interest for the period from and including the Initial Settlement Date.

The Company’s obligation to complete an Offer with respect to a particular series of Notes validly tendered is conditioned on the satisfaction of conditions described in the Offer to Purchase, including that the aggregate principal amount purchased for the Offers (the “Aggregate Purchase Amount”) not exceed $2,000,000,000 (the “Maximum Purchase Amount”), and on the Maximum Purchase Amount being sufficient to include the aggregate principal amount of all validly tendered Notes of such series (after accounting for all validly tendered Notes that have a higher Acceptance Priority Level) (the “Maximum Purchase Condition”). Chevron reserves the right, but is under no obligation, to increase or waive the Maximum Purchase Amount, in its sole discretion subject to applicable law, with or without extending the Withdrawal Date. No assurance can be given that Chevron will increase or waive the Maximum Purchase Amount. If Holders tender more Notes in the Offers than they expect to be accepted for purchase based on the Maximum Purchase Amount and Chevron subsequently accepts more than such Holders expected of such Notes tendered as a result of an increase of the Maximum Purchase Amount, such Holders may not be able to withdraw any of their previously tendered Notes. Accordingly, Holders should not tender any Notes that they do not wish to be accepted for purchase.

If the Maximum Purchase Condition is not satisfied with respect to each series of Notes, for (i) a series of Notes (the “First Non-Covered Notes”) for which the Maximum Purchase Amount is less than the sum of (x) the Aggregate Purchase Amount for all validly tendered First Non-Covered Notes and (y) the Aggregate Purchase Amount for all validly tendered Notes of all series having a higher Acceptance Priority Level as set forth in the table above (with 1 being the highest Acceptance Priority Level and 23 being the lowest Acceptance Priority Level) than the First Non-Covered Notes, and (ii) all series of Notes with an Acceptance Priority Level lower than the First Non-Covered Notes (together with the First Non-Covered Notes, the “Non- Covered Notes”), then Chevron may, at any time on or prior to the Expiration Time:

(a) terminate an Offer with respect to one or more series of Non-Covered Notes for which the Maximum Purchase Condition has not been satisfied, and promptly return all validly tendered Notes of such series, and any other series of Non-Covered Notes, to the respective tendering Holders; or

(b) waive the Maximum Purchase Condition with respect to one or more series of Non-Covered Notes and accept all Notes of such series, and of any series of Notes having a higher Acceptance Priority Level, validly tendered; or

(c) if there is any series of Non-Covered Notes with a lower Acceptance Priority Level than the First Non-Covered Notes for which:

(i) the Aggregate Purchase Amount necessary to purchase all validly tendered Notes of such series, plus

(ii) the Aggregate Purchase Amount necessary to purchase all validly tendered Notes of all series having a higher Acceptance Priority Level than such series of Notes, other than any series of Non-Covered Notes that has or have not also been accepted as contemplated by this clause (c), is equal to, or less than, the Maximum Purchase Amount, accept all validly tendered Notes of all such series having a lower Acceptance Priority Level, until there is no series of Notes with a higher or lower Acceptance Priority Level to be considered for purchase for which the conditions set forth above are met.

It is possible that a series of Notes with a particular Acceptance Priority Level will fail the meet the conditions set forth above and therefore will not be accepted for purchase even if one or more series with a higher or lower Acceptance Priority Level are accepted for purchase.

For purposes of determining whether the Maximum Purchase Condition is satisfied, Chevron will assume that all Notes tendered pursuant to the Guaranteed Delivery Procedures will be duly delivered at or prior to the Guaranteed Delivery Time and Chevron will not subsequently adjust the acceptance of the Notes in accordance with the Acceptance Priority Levels if any such Notes are not so delivered. Chevron reserves the right, subject to applicable law, to waive the Maximum Purchase Condition with respect to any Offer.

The tender offers are subject to the satisfaction of these conditions and certain other conditions. Chevron reserves the right, subject to applicable law, to waive any and all conditions to any Offer. If any of the conditions is not satisfied, Chevron is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered notes, in each event subject to applicable laws, and may terminate or alter any or all of the tender offers. The tender offers are not conditioned on the tender of a minimum principal amount of notes.

Chevron has retained J.P. Morgan Securities LLC and Barclays Capital Inc. to act as the lead dealer managers for the Offers and BNP Paribas Securities Corp., Standard Chartered Bank, and SG Americas Securities, LLC to act as co-dealer managers of the Offers. Questions regarding the terms and conditions for the Offers should be directed to J.P. Morgan at (866) 834-4666 (toll-free) or (212) 834-3424 (collect) or Barclays at (800) 438-3242 (toll-free) or (212) 528-7581 (collect).

D.F. King & Co, Inc. will act as the Tender Agent and the Information Agent for the Offers. Questions or requests for assistance related to the Offers or for additional copies of the Offer to Purchase may be directed to D.F. King & Co, Inc. at (866) 796-7184 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. The Tender Offer Documents can be accessed at the following link: http://www.dfking.com/chevron.

If Chevron terminates any Offer with respect to one or more series of Notes, it will give prompt notice to the Tender Agent and Information Agent, and all Notes tendered pursuant to such terminated Offer will be returned promptly to the tendering Holders thereof. With effect from such termination, any Notes blocked in the Depositary Trust Company (DTC) will be released.

Holders are advised to check with any bank, securities broker or other intermediary through which they hold Notes as to when such intermediary would need to receive instructions from a beneficial owner in order for that Holder to be able to participate in, or withdraw their instruction to participate in the Offers before the deadlines specified herein and in the Offer to Purchase. The deadlines set by any such intermediary and

DTC for the submission and withdrawal of tender instructions will also be earlier than the relevant deadlines specified herein and in the Offer to Purchase.

GENERAL

This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of the Company or any of its subsidiaries. The Offers are being made solely pursuant to the Offer to Purchase. The Offers are not being made to Holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

No action has been or will be taken in any jurisdiction that would permit the possession, circulation or distribution of either this announcement, the Offer to Purchase or any material relating to us or the Notes in any jurisdiction where action for that purpose is required. Accordingly, neither this announcement, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or from any such country or jurisdiction, except in compliance with any applicable rules or regulations of any such country or jurisdiction.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower carbon future, we are focused on lowering the carbon intensity in our operations and growing our lower carbon businesses. More information about Chevron is available at www.chevron.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements that are based on management's current expectations, estimates and projections. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential, ” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results and future prospects or that could cause events or circumstances to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries (OPEC) and other producing countries; public health crises, such as pandemics) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which we operate; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; our ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of our suppliers, vendors, partners and equity affiliates; the inability or failure of our joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of our operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond our control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; our future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; our ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company’s 2020 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission.

Sean Comey +1-925-842-5509

Implemented upgrades will enhance occupant and correctional staff safety while saving the county $560,000 annually

FRAMINGHAM, Mass. & WELLS COUNTY, Ind.--(BUSINESS WIRE)--#cleanenergy--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced its partnership with Wells County, Indiana on a comprehensive jail facility renovation and modernization project. Ameresco’s selection as project partner follows a competitive bidding process and the rollout of a comprehensive audit of Wells County’s jail facility.

The audit highlighted several improvement areas for the county jail, including needed upgrades to its mechanical, electrical and plumbing infrastructure, as well as a solution to the facility’s inmate containment issues. To address these issues, Ameresco will replace the jail’s existing HVAC units, update its lighting with LED retrofits both inside and outside, redesign its parking lot, upgrade its controls system and remodel and build a new facility addition.

Implemented improvements will enhance occupant and correctional staff safety while also saving the facility $560,000 annually. The renovations will also allow the facility to double its intake area to effectively contain inmates who may have infectious diseases, creating a safer environment for all who occupy and work at the facility.

“The jail is now 35 years old and some of the original HVAC equipment is in need of replacement. In addition, the jail operations needs have changed as we now house Level 6 inmates who may require mental health and substance abuse counseling as well as other educational programs,” said Wells County Sheriff Scott Holliday. “We need to adapt to these requirements, make changes to address the Covid-19 pandemic concerns and create a safe working environment for our corrections staff.”

“We are so honored to lead this comprehensive renovation project for Wells County. Our slated improvements will not only enhance the facility’s energy efficiency but will also foster a safer environment for occupants and staff,” said Lou Maltezos, executive vice president, Ameresco. “Covid-19 has highlighted the need for improved infrastructure upgrades throughout this country, and we commend Wells County’s vision and commitment to maintaining sustainable facilities and operating practices.”

Project construction will begin in October 2021 and is expected to reach completion by October of 2022.

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

About Ameresco, Inc.

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

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

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

MCLEAN, Va.--(BUSINESS WIRE)--BAE Systems, Inc. will continue providing lifecycle sustainment, integration, and engineering services to support U.S. aircraft carriers after being selected for a five-year, $68.5 million indefinite delivery, indefinite quantity contract.

Under the Air Traffic Control and Landing Systems (ATC&LS) Engineering Products & Technical Services (EPTS) contract awarded earlier this year, BAE Systems will leverage decades of program history to develop, produce, equip, test, evaluate, sustain, and update the AN/SPN-46(V) Automatic Carrier Landing System.

“With this win, BAE Systems retains a key air traffic control contract that we have held since 1973 to provide industry-leading systems integration capabilities and solutions that ensure the safety of critical carrier-based landing systems,” said Lisa Hand, vice president and general manager of BAE Systems’ Integrated Defense Solutions business.

BAE Systems’ technicians deploy around the world to support the warfighter. The company’s employees utilize established and proven methods as well as their systems engineering and software development expertise to sustain these critical landing systems. The company’s work results in improved hardware reliability, system precision, minimal downtime through onsite and remote technical assistance, and a certified landing system.

Maria McGregor, BAE Systems
Mobile: 619-207-8915
This email address is being protected from spambots. You need JavaScript enabled to view it.

www.baesystems.com/US
@BAESystemsInc

Virtual Event Featuring Industry Experts and Government Officials to Take Place on Wednesday, October 6, 2021, from 1:00 to 3:00 PM EST (Full Agenda)

REGISTER NOW

TORONTO--(BUSINESS WIRE)--Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or “the Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced it will be hosting its inaugural Battery Recycling Day.

Li-Cycle’s Battery Recycling Day will bring major players in the battery recycling industry and government representatives together to discuss issues pertinent to the industry’s future. The event will take a deep dive into the role battery recycling plays in the electric vehicle revolution and the United Nations’ goal of achieving zero-carbon emissions by 2050.

Registration Link
Registration is available via the following link:

REGISTER NOW

Agenda and Featured Participants

Li-Cycle – Battery Recycling Day
Wednesday, October 6^th, 2021
1:00-3:00 PM EST

1:00-1:05 PM
Welcome by Li-Cycle’s Co-Founders

• Ajay Kochhar, President and CEO, Co-Founder, Li-Cycle
• Tim Johnston, Executive Chairman, Co-Founder, Li-Cycle

1:05-1:10 PM
Video Presentation

1:10-1:25 PM
Recycling Batteries in the Transportation Sector

• Host – Kunal Phalpher, Chief Commercial Officer (CCO), Li-Cycle
• Guest panelists:
  • General Motors (GM) – Pablo Valencia Jr., Senior Manager
  • Arrival – Richard Colley, Public Policy and Regulatory Affairs

1:25-1:30 PM
Video Presentation

1:30-1:45 PM
Sustainable Raw Materials: Supply and Demand of Critical Materials

• Host – Ajay Kochhar, President and CEO, Co-Founder, Li-Cycle
• Guest panelists:
  • Traxys – Landon Berns, Trader, Battery Raw Materials
  • Benchmark Mineral Intelligence (BMI) – Andrew Miller, Product Director

1:45-1:50 PM
Video Presentation

1:50-2:05 PM
Next Generation Batteries: Solid State Batteries and Recyclability

• Host – Tim Johnston, Executive Chairman, Co-Founder, Li-Cycle
• Guest panelists:
  • SES – Rohit Makharia, President and Chief Operating Officer (COO)
  • Li-Metal – Dean Frankel, Chief Commercial Officer

2:05-2:10 PM
Video Presentation

2:10-2:25 PM
Environmental and Community Impact

• Host – Chris Biederman, Chief Technical Officer (CTO), Li-Cycle
• Guest panelists:
  • Town of Greece Supervisor – Bill Reilich
  • New York State Senator – Jeremy Cooney

2:25-2:30 PM
Vote of thanks

2:30-3:00 PM
Live Q&A

About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.

Investor Relations: This email address is being protected from spambots. You need JavaScript enabled to view it.
Press: This email address is being protected from spambots. You need JavaScript enabled to view it.

DALLAS & HOUSTON--(BUSINESS WIRE)--#Dallas--Opportune LLP, a leading global energy business advisory firm, is pleased to announce that Randy L. Hill has joined the firm as a Partner to lead its Dallas office. Mr. Hill brings over 37 years of experience advising Fortune 500 energy, chemical, transportation, and other commercial entities. Mr. Hill will focus on growing the existing Dallas advisory practice across multiple industries with an emphasis on serving client needs principally focused on corporate governance matters, M&A transaction evaluation and due diligence, financial statement analyses, complex accounting matters involving GAAP and PCAOB standards, and SEC registration statement and capital markets services.

Before Opportune, Mr. Hill served as a Partner in KPMG LLP’s audit practice where he worked extensively with public companies focused on all aspects of debt and equity filings with the SEC. He also has significant experience working with companies during the initial public offering (IPO) process and has frequently advised global entities on various business combination transactions and participated in transaction due diligence-related activities.

“Knowing Randy for over 30 years, I’m delighted to welcome him as our first direct admit Partner in our history,” said David Baggett, Managing Partner of Opportune LLP. “Randy’s background complements our existing competency areas as we look forward to expanding our presence and delivering added value to clients in various industries in the Dallas-Fort Worth market.”

In addition, for almost a decade, Mr. Hill successfully led KPMG’s Dallas audit practice, leading a team of approximately 400 audit professionals. In this role, he was accountable for managing the day-to-day business operations, budgeting, and planning activities, and achieving certain financial metrics and profitability goals. Mr. Hill had direct oversight responsibility for all audit resources, audit growth initiatives, assessed client satisfaction and activities around hiring, people satisfaction, and employee retention. His audit leadership role afforded him the ability to develop key relationships in the business community.

“I’m excited to be joining such a well-regarded firm like Opportune,” added Mr. Hill. “The firm has unique strengths and relationships, and I look forward to working with the Dallas team to execute on the firm’s priorities, achieve further significant growth in the firm’s advisory practice, and enhance value to clients.”

Mr. Hill holds a BBA in Accounting from Texas A&M University. He has been a member of the American Institute of Certified Public Accountants and Texas Society of CPAs and currently is a CPA in the State of Texas.

About Opportune LLP

Opportune LLP is a leading global energy business advisory firm specializing in adding value to clients across the energy industry, including upstream, midstream, downstream, power and gas, commodities trading, and oilfield services. Opportune’s service lines include complex financial reporting, disputes and litigations, enterprise risk, investment banking, outsourcing, process and technology, reserve engineering and geosciences, restructuring, strategy and organizational design, tax, transactional due diligence, and valuation. For additional information, please visit www.opportune.com.

Bryan Sims
713-490-5050
This email address is being protected from spambots. You need JavaScript enabled to view it.

Solution Will Manage Power for California Residential Demonstration Microgrid

FORT LEE, N.J.--(BUSINESS WIRE)--Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer Power" or the "Company"), a leader in the design and manufacturing of distributed generation and EV charging infrastructure as well as electrical distribution and on-site power generation equipment, today announced that its newly introduced E-Bloc integrated power center product will be utilized in Southern California Gas Company’s (“SoCalGas”) H2 Hydrogen Home prototype.

The one-time order is valued at approximately $500,000, and the Company expects it to be delivered in the fourth quarter of 2021.

SoCalGas’ H2 Hydrogen Home is a state-of-the-art demonstration project aimed at showing the role hydrogen could play in attaining California's goal of achieving carbon neutrality. Pioneer Power’s E-Bloc system is a packaged electrical infrastructure solution that will integrate and control the various distributed energy resources, including an H2 Fuel Cell, PV solar and energy storage, to form an islanded microgrid that can support the power needs of the prototype two-story model home, eliminating the need for connectivity to a public utility grid. Natural gas, water and sewer will be the only utilities connected to the home.

Nathan Mazurek, Pioneer Power's Chairman and Chief Executive Officer, said, “SoCalGas’ prototype hydrogen home is a first of its kind project that will demonstrate the once unimaginable possibilities of a fully- integrated, clean energy residential system that does not depend on electric power from a public utility grid. California is leading the way with its aspiration to be carbon neutral by 2045, and our participation in this highly visible project is an opportunity for us showcase the functionality of the E-Bloc integrated power center in a practical way. Beyond the H2 Hydrogen Home, we are actively engaged with a number of customers across a variety of industries, including big box retail, EV fleet charging and corporate enterprise customers that we believe will result in materially larger orders in the coming months.”

To learn more about Pioneer Power’s E-Bloc infrastructure solution, contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..

About H2 Hydrogen Home

The H2 Hydrogen Home, which will be built this year in the city of Downey, is the first fully integrated demonstration project with solar panels, a battery and electrolyzer to create hydrogen for the fuel cell to supply electricity for the home. Hydrogen will also be blended with natural gas and used in the home's heat pump HVAC unit, water heater, clothes dryer and gas stove. The home will function and feel exactly like a regular home but use reliable and clean energy 24 hours a day, 7 days a week, 365 days a year.

To learn more about the H2 Hydrogen Home, visit here.

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical infrastructure and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company’s principal products include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.

Safe Harbor Statement:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company’s ability to successfully increase its revenue and profit in the future, (ii) general economic conditions and their effect on demand for electrical equipment, (iii) the effects of fluctuations in the Company’s operating results, (iv) the fact that many of the Company’s competitors are better established and have significantly greater resources than the Company, (v) the Company’s dependence on a single customer for a large portion of its business, (vi) the potential loss or departure of key personnel, (vii) unanticipated increases in raw material prices or disruptions in supply, (viii) the Company’s ability to realize revenue reported in the Company’s backlog, (ix) future labor disputes, (x) changes in government regulations, (xi) the fact that the Company’s chairman, who controls a majority of the Company’s voting power, may develop interests that diverge from yours, (xii) the liquidity and trading volume of the Company’s common stock and (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual and Quarterly Reports on Form 10-K and Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Brett Maas, Managing Partner
Hayden IR
(646) 536-7331
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "APAC Data Center Power Market - Industry Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

APAC data center power market size by investments to reach USD 5,772.7 million by 2026, growing at a CAGR of 5.49% during 2021-2026

In the APAC region, countries with high population growth such as India and Indonesia are witnessing high demand for data storage. The major contributors in terms of power capacity are China, Hong Kong, India, Japan, Singapore, and Australia. The upcoming 5G technology installations in various countries will lead to higher demand for data center power, mostly in technology-driven countries in APAC. The data center market in APAC is mainly dominated by colocation providers, followed by internet and cloud service providers.

The APAC region is among the fastest-growing regions with increased investments from global and local facilities operators. Government agencies in the APAC region across several countries are actively engaged in growth to digitize their operations. In APAC, the implementation of edge computing across various territories, particularly in China and India, accommodates the region's data growth.

The study considers the present scenario of the APAC data center power market and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

GEOGRAPHICAL ANALYSIS

Baidu, in China, had purchased 550 GWh of wind power to power its facilities in the Shangxi province.

China & Hong Kong are the prominent markets for data center operations in APAC. Apple is investing more than USD 1 billion in its facilities in Guizhou and Ulanqab, which will accelerate the growth. The increasing demand for cryptocurrency data centers in China is boosting the development of high-performance computing infrastructure. Increasing the rack power density developed in the country will raise the demand for efficient power infrastructure.

The Australian government initiated 34 renewable energy projects to increase the generation of renewable energy, with solar energy as one of the major contributors. During the forecast period, installations of renewable energy sources such as solar are expected to grow, which would further reduce the power cost for data center operators.

VENDOR LANDSCAPE

The industry is witnessing growth in adoptions of generators with a power capacity of more than 2 MW. The revenue generation opportunity for the vendors is higher in the developed countries with the presence of major operators. The demand for software-defined power solutions by vendors is expected to drive growth in demand for automation and monitoring of power infrastructure.

ABB, Caterpillar, Cummins, Eaton, Legrand, Schneider Electric, and Vertiv are some of the leading players in the region.

SNIPPETS

• In May 2020, AWS announced utility-scale solar projects of around 100 MW to power its operations in China and around 105 MW in Australia.
• The China & Hong Kong data center power market investment is expected to reach USD 2,533.1 million by 2026.
• The APAC data center power industry is witnessing significant growth in the procurement of lithium-ion UPS systems.
• The APAC data center power industry by
• In October 2020, Keppel Data Centres signed an MOU with City Gas and City-OG Gas Energy Services to develop the hydrogen floating data center project. Commercial deployment of these innovative concepts will revolutionize the APAC data center power industry.
• Korea Southern Power (KOSPO) is reviewing a feasibility study to develop a 230 MW hydropower plant, Maung, in Central Java, with investments of around $650 million.

APAC DATA CENTER POWER MARKET SHARES AND SEGMENTS

• UPS systems are being widely adopted to provide backup power for cooling systems installed in the facility. The APAC market by UPS systems is expected to reach USD 1,631.9 million by 2026.
• The continuous construction of large and mega facilities across the globe will drive the industry for generators in the data center environment. The APAC data center power market by generators will grow at a CAGR of 4.85% in the upcoming years.
• The industry is witnessing an increasing deployment of intelligent PDU solutions. This is due to more awareness of reducing power consumption and wastage.
• Schneider Electric is among the major vendors that offer automatic transfer switches for data centers. With the increased construction of facilities across the region, transfer switches & switchgear industry is expected to grow during the forecast period.

Market Dynamics

Market Opportunities & Trends

• Innovative Data Center Technologies
• Innovative UPS Battery Technologies
• Growing Adoption of Renewable Energy
• Growing 5G & Edge Deployments
• Software Defined Power to Automate Power Infrastructure
• Emergence of Fuel Cells
• Growing Adoption of Modular Power Solutions

Market Growth Enablers

• Growing Data Center Investments
• Increasing Hyperscale Constructions
• Impact of COVID-19 on Data Centers
• Growing Rack Power Density
• Increased Power Outages

Market Restraints

• High Infrastructure Maintenance Cost
• Rising Carbon Emissions from Data Centers
• High Cost of Efficient Power Infrastructure

Key Power Infrastructure Vendors

• ABB
• Caterpillar
• Cummins
• Eaton
• Legrand
• Schneider Electric
• Vertiv

Other Prominent Power Infrastructure Vendors

• AEG Power Solutions
• Anord Mardix
• Advanced Energy Industries (ARTESYN)
• Aten International
• Austin Hughes Electronics
• BACHMANN Group
• Borri
• Canovate Group
• Centiel
• Chatsworth Products
• Cyber Power Systems
• Delta Power Solutions (DELTA GROUP)
• EAE
• Elcom International
• Enconnex
• EverExceed Industrial
• Exide Technologies
• Fuji Electric
• Generac Power Systems
• General Electric (GE Gas Power)
• Hewlett Packard Enterprise (HPE)
• HIMOINSA (Yanmar Group)
• Hitachi Hi-Rel Power Electronics
• HITEC Power Protection
• HITZINGER
• Huawei Technologies
• INNIO
• Kehua Data (Kehua Tech)
• Kirloskar Oil Engines Limited (KOEL)
• KOHLER
• Kokam (SOLAREDGE)
• Mitsubishi Electric
• Panduit
• Piller Power Systems
• Powertek
• Pramac (PR Industrial)
• Rolls-Royce Power Systems
• Riello Elettronica Group
• Shenzhen Kstar Science & Technology
• Saft (TOTAL)
• Socomec
• Thycon
• Toshiba
• VYCON
• ZincFive

For more information about this report visit https://www.researchandmarkets.com/r/stlu9v

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that it will issue a press release containing its third quarter 2021 financial results after the Nasdaq closes on Monday, November 1, 2021. On Tuesday, November 2, 2021 at 10:00 a.m. Eastern Time, Chief Executive Officer Jonathan Pertchik, President Barry Richards and Chief Financial Officer and Treasurer Peter Crage will host a conference call to discuss these results.

The conference call telephone number is (877) 329-4614. Participants calling from outside the United States and Canada should dial (412) 317-5437. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through Tuesday, November 9, 2021. To hear the replay, dial (412) 317-0088. The replay pass code is 10160345.

A live audio webcast of the conference call will also be available in a listen-only mode on the company's website, which is located at www.ta-petro.com. Participants who want to access the webcast should visit the company's website about five minutes before the call. The archived webcast will be available for replay on the company's website after the call.

About TravelCenters of America Inc.:

TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 18,000 team members serve guests in 275 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.

Kristin Brown, Director, Investor Relations
(617) 796-8251

“7 Saturdays” Digital Video Series Introduces Californians to Cost-effective Ways to Prepare their Homes for Wildfire.

SAN FRANCISCO--(BUSINESS WIRE)--To prepare homes for the threat of wildfire, Californians across the state are looking for affordable ways to make their homes more fire safe. Making improvements to a home’s infrastructure (known as home hardening) can prevent embers from entering and starting a fire.

In the third episode of Pacific Gas and Electric Company’s (PG&E) digital video series, “7 Saturdays to a More Fire-Resistant Home,” customers will learn three simple and affordable ways to make their homes more fire resistant in just one Saturday. You can stream the show on PG&E’s preparedness website, the Safety Action Center, which provides information to help customers keep their families, homes and businesses safe during natural disasters and other emergencies.

The “7 Saturdays” series is co-hosted by Alicia Mason and David Hawks, a PG&E Senior Public Safety Specialist and former CAL FIRE Chief of the Butte Unit. According to Hawks, “Embers can travel several miles and find their way into gaps and cracks on your home and ignite a fire. By hardening your home, you improve the chances that your home will withstand a wildfire and keep embers out.” For over 31 years, Hawks has served California as a firefighter and he understands that simple home adjustments can better protect people and communities during an emergency. This episode will show customers:

• How weather stripping can seal their homes and prevent embers from entering vulnerable locations, like garages and windows.
• How to plug up gaps in damaged door frames, walls and boards with caulking.
• The correct way to install ember-resistant vents and screening to help protect against embers penetrating the home and catching it on fire.

You can watch the third episode now on the Safety Action Center (safetyactioncenter.pge.com).

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

MEDIA RELATIONS:
415-973-5930

TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE: OSG) (“OSG”) a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today announced that it closed on a seven-year $325 million term loan credit facility with Stonebriar Commercial Finance (the “Term Loan Refinancing”). Proceeds were used to refinance and replace its existing term loan facility with The Prudential Insurance Company of America, as administrative agent, and certain other lenders, and an existing term loan with Wintrust Commercial Finance, as well as the partial refinancing of a term loan with Banc of America Leasing & Capital, LLC. The remaining proceeds, after transaction costs, will be used for general working capital purposes.

The performance of the borrowers’ obligations under the Term Loan Refinancing are guaranteed by OSG and certain other subsidiaries, and the loan contains customary representations and warranties and affirmative and negative covenants.

“We are very pleased to have completed this major refinancing that lengthens our maturity profile and provides a significant increase to the Company’s liquidity position,” noted Dick Trueblood, the Company’s Vice President and Chief Financial Officer. “OSG now has no scheduled debt maturities until September 2024. We would like to thank our existing lender Stonebriar who completed this transaction and has become our largest financial partner.”

Sam Norton, OSG’s President and CEO, commenting on the new loan facility, stated, “The series of transactions completed this week fulfill several key elements considered during the strategic review being conducted by the Company and its Board of Directors. Notably, several of OSG’s lending agreements have been consolidated under the new Term Loan Refinancing. Coordinated amendments to the remaining legacy debt agreements will result in covenant provisions being harmonized with the terms of the new facility. Looking forward through the end of 2022, available liquidity will be the principal financial compliance metric in all debt agreements. Available liquidity has been enhanced, as cash balances at the end of September were $85 million. In addition, cash required for debt service during 2022 will be reduced by approximately $10 million as compared to the requirements under our prior facilities. We believe the improving trajectory of our markets and the benefits of the completed transactions give OSG a solid platform to realize the full long-term potential of its unique and valuable operating franchise.”

Mr. Norton added, “Energy markets continue to provide evidence of strengthening demand and improving fundamentals. In line with these developments, OSG’s financial results have shown steady incremental progress as 2021 has progressed, including during the just completed third quarter. With two tankers having been activated in recent weeks and discussions with customers that indicate a likely increase in seasonal demand during the winter months ahead, we believe the recovery in our markets that we have been anticipating will become more evident as we move into the fourth quarter and new year.”

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. All statements other than statements of historical facts should be considered forward-looking statements. Words such as “may”, “will”, “should”, “would”, “could”, “appears”, “believe”, “intends”, “expects”, “estimates”, “targeted”, “plans”, “anticipates”, “goal”, and similar expressions are intended to identify forward-looking statements but should not be considered as the only means by which these statements may be made. Such forward-looking statements represent the Company’s reasonable expectations with respect to future events or circumstances based on various factors and are subject to various risks, uncertainties, and assumptions relating to the Company’s operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors, many of which are beyond the control of the Company, that could cause the Company’s actual results or outcomes, or the timing of certain events, to differ materially from the expectations expressed or implied in these statements, including as a result of the uncertainty associated with being able to identify, evaluate and complete any strategic transaction or alternative, the impact of the announcement of the special transaction committee’s review of strategic alternatives, as well as any strategic transaction or alternative that may be pursued, on the Company’s business, including its financial and operating results and its employees. Undue reliance should not be placed on any forward-looking statements and, when reviewing any forward-looking statements, consideration should be given to factors including, but not limited to, those factors discussed in the Company’s Annual Report on Form 10-K, filed with the SEC on April 1, 2021, and those factors discussed in the Company’s Quarterly Report on Form 10-Q, filed with the SEC on May 7, 2021. Investors should carefully consider these risk factors and the additional risk factors outlined in other reports hereafter filed by the Company with the SEC under the caption “Risk Factors.” The Company assumes no obligation to update or revise any forward-looking statements except as may be required by law. Forward-looking statements in this press release and written and oral forward-looking statements attributable to the Company or its representatives after the date of this press release are qualified in their entirety by the cautionary statement contained in this paragraph and in other reports hereafter filed by the Company with the SEC.

Investor Relations & Media Contact:
Susan Allan, Overseas Shipholding Group, Inc.
(813) 209-0620
This email address is being protected from spambots. You need JavaScript enabled to view it.

LOS ANGELES--(BUSINESS WIRE)--The State of California and the Port of Los Angeles have directed $12 million to AltaSea, a nonprofit corporation, to fund the construction of the West Coast’s largest blue economy ocean research and development center. Berth 58 – the site of the initial 60,000 square feet of the planned 180,000 feet of the Center of Innovation at AltaSea – will be the first fully renovated structure on AltaSea’s 35-acre campus at the Port of Los Angeles. The center will house ocean-focused businesses specializing in sustainable aquaculture, offshore renewable energy, and underwater robotics, as well as supporting educational and workforce development initiatives. California State Senator Steven Bradford and California State Assemblyman Patrick O’Donnell led an effort to secure $6 million in state funding to match the Port of Los Angeles’ $6 million commitment. Construction on the Center of Innovation is anticipated to commence by mid-2022 and be completed in the first half of 2023.

“This commitment of state funding will help unlock important innovations that will help the people of this planet,” said Senator Bradford (D-Gardena), who represents California's 35th State Senate District, including parts of South LA and the South Bay. “I am looking forward to AltaSea collaborating with our public schools to give students, especially in underserved communities, the opportunity to engage in innovative ocean STEM programs through workshops and internships. Investing in our young people is an essential part of environmental justice, and I am glad AltaSea will be expanding their ability to do so.”

“I’ve seen AltaSea’s work up close – it’s already a hub for convening experts within critical fields of ocean preservation and education,” said Assemblyman O’Donnell, who represents California's 70th Assembly District in South LA County. “With this new state funding, these advances will have a new home that is worthy of the important work they’re doing.”

AltaSea’s growing campus is primed to be the hub of the emerging blue economy, creating new good-paying jobs, tackling climate change, and working to solve some of the most pressing issues in the marine environment. The blue economy, as estimated by the Los Angeles Economic Development Corporation, will create well over 126,000 direct jobs in LA County alone, paying a combined $37.7 billion in wages by 2030. AltaSea recently announced that its campus will be home to the nation’s largest solar installation at an ocean research and development center.

AltaSea’s signed anchor tenants to occupy various locations on the 35-acre campus include the University of Southern California, the Southern California Marine Institute (made up of 23 universities, colleges, and institutes), Braid Theory, Holdfast Aquaculture, Montauk Technologies, and Pacific Mariculture.

Also among AltaSea’s tenants is famed oceanographer and explorer Dr. Robert Ballard’s Ocean Exploration Trust (OET) and the research vessel Nautilus, which docks at AltaSea. Dr. Ballard is best known for his historic discoveries of hydrothermal vents, the sunken R.M.S Titanic, the German battleship Bismarck, and many other shipwrecks around the world. OET has plans to build a 10,000 square foot interactive research and educational center at AltaSea.

The Center of Innovation will focus on three Clusters: Aquaculture, Blue Technology, and Ocean Energy. The Aquaculture Cluster invites companies to develop sustainable food production, while preserving delicate marine ecologies and reducing global carbon emissions. Sustainable aquafarms will also help combat global hunger by providing a much-needed protein source. Companies in the Blue Technology Cluster will construct and use underwater robotics and other ocean exploration technologies. Technologies like these make vital marine conservation measures easier and more attractive to public and private sector partners. The developing Ocean Energy Cluster will focus on opportunities in kinetic wave energy, wind, and algae fuel technologies.

“Senator Bradford and Assemblyman O’Donnell are proven leaders in economic development, job training, education and environmental sustainability. They understand that growing the emerging Blue Economy and advancing research in the ocean will help stave off the worst impacts of climate change we face today,” said AltaSea CEO Tim McOsker. “The Center of Innovation at AltaSea will be a place where the private sector is able to team up with universities and high schools to advance education and workforce development, while at the same time developing the next generation of ocean-focused technologies.”

Recently the Port of Los Angeles agreed to advance the first $6 million of a $40 million commitment to AltaSea, allowing the non-profit to proceed with renovation of Berth 58, the site of the initial 60,000 square feet of the planned 180,000 feet of the Center of Innovation. As a condition of this advance of funds, the Port requested AltaSea secure $6 million in matching funds. With the State of California’s $6 million funding, the funds have been secured to start construction.

“AltaSea’s focus on the rapid growth of the blue economy adds a new dimension to our pursuit of sustainable solutions and expands the diversity of jobs across our port ecosystem,” said Port Executive Director Gene Seroka. “The blue economy will not only provide workers with pathways to sustain and grow their professional and personal lives, but these jobs will allow them to be a crucial part of the solution to some of the world’s most challenging issues, including climate change.”

About AltaSea at the Port of Los Angeles

AltaSea at the Port of Los Angeles, located on 35 acres at North America’s leading seaport by both container volume and cargo value, is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation, all for a more sustainable, just, and equitable world.

For more information on AltaSea, please see our website: https://altasea.org.

Jacob Scott
This email address is being protected from spambots. You need JavaScript enabled to view it.
412-445-7719

HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today that it has closed its previously announced all stock transaction to acquire oil and gas assets in the Eagle Ford from an undisclosed seller. The aggregate purchase price for these assets was $33 million, subject to customary purchase price adjustments and a June 1, 2021 effective date. In accordance with the terms of the Purchase and Sale Agreement, the transaction consisted of approximately 1.5 million shares of SilverBow’s common stock.

MANAGEMENT COMMENTS

Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “We continue to execute on our key objectives, as exemplified by the successful closing of this acquisition. Namely, we are growing production and EBITDA while living within cash flow, expanding inventory, driving a peer-leading cost structure and further de-levering our balance sheet. We seek to build on this momentum as we close out the year.”

ABOUT SILVERBOW RESOURCES, INC.

SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.

FORWARD-LOOKING STATEMENTS

This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, risks and uncertainties discussed in the Company’s reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. You should not place undue reliance on these forward-looking statements.

Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW

The large-scale commercial deployment of ElectReon’s wireless charging infrastructure will be used to charge 200 public buses in Tel Aviv in a $9.4M USD partnership with one of Israel’s largest Public Transport Operator, Dan Bus Company.

BEIT YANAI, Israel--(BUSINESS WIRE)--ElectReon (TASE: ELWS.TA), the leading provider of wireless and in-road wireless electric vehicle (EV) charging technology, announced it has signed a 5-year agreement with Dan Bus Company, an Israeli bus company, to expand its wireless charging network to support public electric bus routes in Tel Aviv and the wider metropolitan area. The implementation, costing $9.4M USD, will supply 200 electric buses with active charging at operational city terminals (stations) for buses between bus trips and while passengers board and disembark.

This charging strategy will allow for the reduction of electrical grid connection capacities at the bus facilities and reduce vehicle battery capacity, size and weight for Dan Bus Company’s electric buses—curtailing fleet vehicle down-time and enabling extended operational hours. ElectReon will provide a full charging service at multiple operating terminals in the Tel Aviv Metropolitan Area and in Israel’s Southern District, for which Dan will pay a monthly fee for the complete charging service stack for approximately 200 electric buses. Dan elected to choose ElectReon’s Charging as a Service (CaaS) model, in which ElectReon finances the charging infrastructure at the terminals and provides operation services and maintenance throughout the length of the 5-year project. Additionally, the partners will explore the possibility of installing ElectReon’s wireless charging system for the rest of Dan's electric fleet and in Dan’s highway project 'Netivei Ayalon’.

In the first phase of the project, ElectReon will install its wireless charging system in 100 buses and at the major public transport terminal, Reading, in North Tel Aviv. As part of the second phase of the project that will take place within two years, the charging infrastructure will be expanded to other major terminals in Tel Aviv and in the south region of Israel, so that the company will provide wireless charging for about 200 buses in total.

“Not only will this be ElectReon’s first large-scale commercial project, it will also be a world-class showcase of wireless EV charging for fleet vehicles,” said Oren Ezer, CEO of ElectReon. “This will continue to demonstrate the improved efficiency and cost savings that electric bus fleet operators can expect by implementing wireless charging infrastructure.”

"In order to turn Dan's public transportation network in the Tel Aviv metropolitan area into a fully electric network, the company is currently establishing a charging infrastructure system and support for one of the largest public transportation operators in the region. We have tested ElectReon's technology and it has proven to be suitable for top-up charging at operational terminals as part of our day-to-day operations and workflows,” said Ofir Karni, CEO of Dan Bus Company, “This advanced technology is expected to enable our electric fleet to achieve greater range and extended operational hours while flattening peak energy consumption loads from overnight depot charging and simultaneously, allow us to maintain our essential maneuvering space and operational flexibility at our terminals. What is interesting that is out of an average 19 operational hours a day, one of our buses stands for about two hours in total at one of our terminals while drivers rest, switch over or wait to pick up passengers; according to our estimations, by just utilizing this time alone to charge the buses, we’re able to provide around 30% of the vehicle’s daily energy requirements.”

This agreement expands on the initial September 2020 collaboration between ElectReon and Dan Bus Company to deploy wireless EV charging infrastructure to actively charge a bus from a half mile of electrified wireless roadway between Tel Aviv University and the nearby train station as well as wireless stationary charging stations installed at the bus terminal at the beginning of the bus route. The bus operator was able to reduce the vehicle battery capacity by 90% by enabling the bus to actively charge while driving as well as increase vehicle operational hours due to the fact that less downtime for charging was required.

“We are proud to be expanding the ElectReon network in Tel Aviv significantly just a year after the initial pilot and our collaboration with Dan began,” said Ezer. “This momentum signals the growing need today for EV charging solutions across the global transportation market beyond the traditional charging station that enables a more seamless transition to electrification.”

Adding to the efficiency of the wireless charging infrastructure, the expanded agreement also includes ElectReon providing Dan Bus Company with a Charging as a Service (CaaS) financing model which will demonstrate the feasibility of the innovative financial model for the company and its customers globally.

About ElectReon

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

Media Contact
Katelyn Davis
On behalf of ElectReon
This email address is being protected from spambots. You need JavaScript enabled to view it.

Hyundai’s New Genesis GV60 Will Feature Wireless Charging

WATERTOWN, Mass.--(BUSINESS WIRE)--WiTricity, the pioneer in wireless charging, today announced that its patented technology is seeing its first availability as factory-installed equipment in a fully electric vehicle (BEV). Hyundai unveiled the Genesis GV60 in a series of videos and announcements featuring wireless charging. The Hyundai Motor Group previously demonstrated wireless charging technology at the 2018 Geneva Motor Show and has been a leader in moving the technology forward. The Genesis GV60 is the brand’s third SUV and first BEV. It will initially be available in South Korea.

“We’re thrilled to see our technology in a new luxury EV like the GV60,” said WiTricity CEO Alex Gruzen. “This is truly a watershed moment with Hyundai at the forefront of technology solutions that enable a better driving experience. We expect it won’t be long until all car manufacturers include wireless charging for their customers.”

In the future, in addition to simplicity and reliability, wireless charging also has the potential to provide Vehicle-to-Grid (V2G) power and dynamic charging to power vehicles in motion. And it will be indispensable for autonomous vehicles, providing the ability to refuel without human intervention.

About WiTricity

WiTricity is the global industry leader in wireless charging, powering a sustainable future of mobility that is electric and autonomous. WiTricity’s patented magnetic resonance technology is being incorporated into global automakers’ and Tier 1 suppliers’ EV roadmaps and is the foundation of major global standards developed to support wide-scale adoption. Advancements like dynamic charging of moving vehicles, and the charging of autonomous robots and vehicles without human intervention all depend on WiTricity technology. See how WiTricity enables a magically simple, efficient charging experience.

Allison Webster
V2 Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.

Oceana Calls on President Biden to Deliver on Campaign Promise, Permanently Protect Coasts from Offshore Drilling

WASHINGTON--(BUSINESS WIRE)--#ProtectOurCoast--On Sunday, reports surfaced of a major oil spill disaster currently unfolding off the California coast. The city of Huntington Beach reported that the 126,000-gallon oil spill is causing “substantial ecological impacts occurring at the beach and at the Huntington Beach Wetlands.”

Oceana released the following statement from Chief Policy Officer, Jacqueline Savitz:

“This is the legacy of the fossil fuel age, in which the oil and gas industry pushed their product until we were addicted. We need to break that addiction by shifting to clean energy. It’s time for the age of oil and gas to be history. This is just the latest of many tragedies caused by the oil and gas industry. The reality of our reliance on oil and gas is on full display here.

“In Southern California, the oil has already made its way onto our coasts, covering our beaches in oil and suffocating wildlife, and most of the oil now in our ocean will never be recovered. When we drill, we spill. It’s well past time to prevent future oil spills by permanently protecting our coasts from offshore drilling. The devastating social, economic, and ecological consequences of offshore drilling are, sadly, on full display in Southern California right now. It’s time for President Biden to deliver on his campaign promise to end offshore drilling and we need California’s Senators to ensure this gets done immediately.”

Oceana recently released an analysis detailing the economic benefits of banning new offshore drilling in California. Specifically, the analysis looks at data for ocean-dependent jobs and revenue from fishing, tourism, and recreation along the California coast. The analysis found that ending new leasing off the coast of California will safeguard California’s clean coast economy, which collectively supports around 654,000 jobs and over $50 billion in GDP. Nationwide, the U.S. clean coast economy supports around 3.3 million American jobs and $250 billion in GDP.

Oceana’s analysis also found that ending new leasing for offshore oil and gas in the United States could prevent over 19 billion tons of greenhouse gas emissions as well as more than $720 billion in damages to people, property, and the environment nationally. Oceana is calling on President Biden to permanently protect our coasts from offshore drilling to ensure the future of our coastal economy that depends on a healthy ocean and help address the growing climate crisis.

As of today, opposition and concern over offshore drilling activities includes:

• Every East and West Coast governor, including Florida, Georgia, South Carolina, North Carolina, Virginia, Maryland, Delaware, New Jersey, New York, Connecticut, Rhode Island, Massachusetts, New Hampshire, Maine, California, Oregon, and Washington
• More than 390 local municipalities
• Over 2,300 local, state, and federal bipartisan officials
• East and West Coast alliances representing over 56,000 businesses
• Pacific, New England, South Atlantic, and Mid-Atlantic fishery management councils
• More than 120 scientists
• More than 80 former military leaders
• Commercial and recreational fishing interests such as Southeastern Fisheries Association, Snook and Gamefish Foundation, Fisheries Survival Fund, Billfish Foundation, and International Game Fish Association
• California Coastal Commission, California Fish and Game Commission, and California State Lands Commission
• Department of Defense, NASA, U.S. Air Force, and Florida Defense Support Task Force

For more information about Oceana’s efforts to stop the expansion of offshore drilling, please click here.

Oceana is the largest international advocacy organization dedicated solely to ocean conservation. Oceana is rebuilding abundant and biodiverse oceans by winning science-based policies in countries that control one-third of the world’s wild fish catch. With more than 225 victories that stop overfishing, habitat destruction, pollution, and the killing of threatened species like turtles and sharks, Oceana’s campaigns are delivering results. A restored ocean means that 1 billion people can enjoy a healthy seafood meal, every day, forever. Together, we can save the oceans and help feed the world. Visit www.oceana.org to learn more.

Austin Matheny, This email address is being protected from spambots. You need JavaScript enabled to view it., 858.395.5577
Dustin Cranor, This email address is being protected from spambots. You need JavaScript enabled to view it., 954.348.1314

Terms of the definitive agreement reached on September 8, 2021 have been met

WILLISTON, Vt.--(BUSINESS WIRE)--$isun #cleanenergy--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services, announced today that it has completed its acquisition of SunCommon, pursuant to the terms previously announced on September 8, 2021.

HIGHLIGHTS:

• Creates a regional full-service solar installation leader servicing the residential, commercial, industrial and utility-scale markets as well as the growing demand for the electric vehicle charging infrastructure.
• Positions combined company to effectively capitalize on emerging opportunities in the residential and small commercial landscape.
• Leverages brand and marketing expertise of SunCommon to effectively grow presence and message in new regional markets.
• Transaction consideration to SunCommon shareholders includes approximately $25,534,621 in cash and an aggregate of 1,810,915 shares of ISUN shares of Common Stock of iSun; provides for the future distribution of $2.5 million directly to SunCommon employees, expands eligibility under the Company’s Equity Incentive Plan to all iSun employees, and provides for $1.5 million working capital infusion into SunCommon, now a wholly owned subsidiary of iSun Residential, Inc.
• Anticipated to be accretive to earnings as a result of increased combined revenues and net income as of Q4 2021.
• Alignment of software, shared services and vendor base will enable synergies with expected $1.25 million in savings in year-1 and provide opportunities to reduce customer acquisition costs across all business segments.

The transaction executes phase one of iSun’s recently announced East Coast residential strategy and builds on iSun’s commercial, industrial and utility-scale presence in Maine, New Hampshire, Vermont, Connecticut, Massachusetts, Rhode Island, New York, Maryland, North Carolina and South Carolina. The acquisition furthers iSun’s ability to both drive the transition from dirty to clean energy and capitalize on the increasing focus on the climate crisis. The combined organization on a pro forma basis generated net revenues of approximately $51.4 and $70.0 million in calendar years 2020 and 2019, respectively. SunCommon’s anticipated positive EBITDA will enhance the Company’s overall EBTIDA. Management estimates year-1 SG&A synergies to be approximately $1.25 million related to integration of backend software and implementation of a shared services platform consisting of administrative related functions (finance, IT, software), while the differing revenue cycles of the two business will improve cash-flow.

“The electrification of everything – automobiles in particular - is going to rapidly accelerate energy demand across all sectors,” stated Jeffrey Peck, iSun Chairman and Chief Executive Officer. “With this acquisition, iSun is perfectly positioned (has the perfect partner) to address this opportunity across the residential sector with a partner who has built a scalable residential platform with best-in-class capabilities, industry leading customer acquisition cost of $0.36/Wdc, and most important – who shares our values. We’re excited to help enhance their capabilities as we progress to phase two of our residential strategy.”

Transaction Details.

Both iSun and SunCommon’s respective Boards of Directors unanimously approved the Definitive Agreement, which includes a cash payment of $25,534,621 and 1,810,915 shares of common stock (approximately $2.5 million of the consideration will be distributed to SunCommon employees), $1.5 million working capital infusion and additional earnout provisions, subject to customary purchase price adjustments and customary seller representations and warranties and indemnification obligations.

In 2020, SunCommon generated approximately $33.1 million in revenue with gross margins of approximately 30.2% and maintained customer acquisition costs well below those advertised by other residential solar market leaders.

Mr. Peck will serve as the CEO of the combined organizations, and Mr. Peterson and Mr. Moore will continue to serve as co-Presidents of SunCommon. The existing iSun Board of Directors will remain as currently established.

B. Riley Commercial Capital, LLC provided a $10 million secured loan to the Company, which allowed the Company to take advantage of its low debt to equity ratio and preserve shareholder value for the transaction.

Additional details of the transaction will be included with the Company’s Current Report on Form 8-K, which will be filed with the United States Securities and Exchange Commission, and will be available on the iSun website when filed.

About iSun Inc.

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

About SunCommon.

SunCommon is a market-solution to climate change. Operating in New York's Hudson Valley and as the market-leading provider of residential, community and commercial solar in Vermont – SunCommon believes that everyone has the right to a healthy environment and brighter future – and renewable energy is where it starts. SunCommon is a Certified B Corp based on a rigorous third-party assessment of its commitment to the triple bottom line of people, planet and profit. SunCommon’s 200 employees are passionate about SunCommon’s values-led business and the positive environmental impact SunCommon has created and will continue to create. For more information, go to https://suncommon.com or connect with SunCommon on Facebook and Twitter @suncommon.

Forward Looking Statements

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

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

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

IR:
Tyler Barnes
This email address is being protected from spambots. You need JavaScript enabled to view it.
802-289-8141

PARIS--(BUSINESS WIRE)--Regulatory News:

Technip Energies (PARIS: TE), a leading Engineering & Technology company for the energy transition, announces that its Board of Directors intends to nominate Ms. Colette Cohen for appointment as a non-executive director at the Company’s 2022 Annual General Meeting of Shareholders (“AGM”). Until the AGM, Ms. Cohen will attend meetings of the Board of Directors as an observer.

Joseph Rinaldi, Chairman of the Board of Technip Energies, declared: "I am delighted that Colette has agreed to be nominated to join the Technip Energies Board. With over two decades of expertise in the energy sector, the leadership role she is playing in the industrial transformation of the sector towards a net zero future and her well recognized advocacy for women in industry, Colette will be a valuable addition to the Board. I look forward to welcoming Colette to the Board.”

Colette Cohen OBE is the Chief Executive Officer for the Net Zero Technology Centre, an organization committed to the development and deployment of technology to accelerate the transition to an affordable net zero future. She has worked in the industry for over 25 years, having held senior positions within industry leaders such as BP, ConocoPhillips and Centrica E&P, both in the UK and internationally.

Colette Cohen has a degree in Pure & Applied Chemistry from Queen’s University Belfast, as well as a master’s in Project Management & Economics from CERAM (France) and an honorary PhD from Aberdeen University.

She was formerly a Commissioner for the Just Transition Commission for Scotland and a member of the Technology Leadership Board for the UK Government.

Colette is an ambassador for Powerful Women and, in 2020, she was awarded the Order of the British Empire for services to the Oil and Gas industry.

About Technip Energies

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

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

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

For further information: www.technipenergies.com.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

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

Investor relations

Phil Lindsay
Vice-President Investor Relations
Tel: +44 203 429 3929
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations

Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 (1) 85 67 40 95
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Jason Hyonne
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

1 in 4 Utility Executives Say Pandemic is Delaying Upgrades Yet Natural Disasters, Renewables and Electric Vehicles Demand Modern Infrastructure

LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#EVs--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, released its 2021 Resourcefulness Insight Report detailing why modernizing energy infrastructure is the path to achieving a resilient and reliable grid that successfully mitigates the impacts of climate disruption, minimizes interruptions from natural disasters, integrates renewables and prepares for the increased adoption of electric vehicles (EVs). Preparing for the Unexpected and the Inevitable: An Itron Resourcefulness Report summarizes key findings from surveys of 500 utility executives and 500 informed consumers from across five countries – United States, Australia, France, Germany and Indonesia – on the key challenges, barriers and concerns facing utilities in the next five years.

Launched today at Itron Inspire 2021, the company’s premier customer-focused event, the report dives deep into the differing opinions of consumers and utility executives related to resilience planning for an innovative, reliable grid. Across the surveyed countries, integrating renewables and modernizing aging grid infrastructure are the top two biggest challenges. The findings indicate that in the next five years utility execs surveyed see EV demands becoming the biggest challenge for the grid. Additional key findings in the report show:

• Consumers agree with the top priorities of integrating renewables and upgrading infrastructures. However, they are more concerned about natural disasters (20%) than EVs (16%).
• Utility executives are extremely/very concerned about the grid and the impact of disasters (88%), demand from EVs (85%), integrating renewables (86%) and complying with environmental mandates (90%).
• Consumers are less concerned than utility executives about the impact of disasters and EVs on the grid, however they are also less confident in how prepared utilities are to manage these situations with 84% of utilities stating they are ready vs. 47% of consumers.

“In looking at these results, there is agreement on the need for grid modernization, but utility executives and consumers have different concerns and priorities. We see that utilities are looking to the future to plan and prepare for what is coming, while consumers indicated more immediate concerns,” said Marina Donovan, vice president of global marketing and public affairs. “Consumers remain concerned about how climate disruption – and the resulting rise in natural disasters – are impacting their lives, yet they are less aware or even unaware of the impact of EVs and renewables on the grid.”

Across all five countries, the biggest challenges to the reliability and resiliency of the grid are upgrading aging infrastructure, integrating renewables and complying with carbon mandates, but these priorities change as executives look to the future:

According to the survey, the COVID-19 pandemic has delayed technology investments across all the countries. Yet, the technology is critical to create a more resilient infrastructure. The report notes that advanced metering infrastructure and distribution automation are high priorities for EVs, distributed energy resources (DER) deployments, and disaster response. And sensors are the highest priority technology for grid resiliency in the face of disasters.

“In America, the U.S. Senate passed a $1.2 trillion bipartisan infrastructure bill, which is currently being debated in the House of Representatives, that will be critical to driving grid modernization. Replacing aging electrical infrastructure is paramount to making the grid more resilient and reliable in the face of extreme weather conditions and climate disruption. This federal investment is needed to protect and prepare for disasters as well as sustainable growth,” added Donovan.

To download a full copy of the Itron Resourcefulness Insight Report, visit www.itron.com/resourceful. To listen to key sessions and keynotes at the virtual Itron Inspire Event, Oct. 4-6, please visit www.itron.com/inspire.

About Itron

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.

Itron^® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
This email address is being protected from spambots. You need JavaScript enabled to view it.

AUSTIN, Texas--(BUSINESS WIRE)--In the third quarter, we produced approximately 238,000 vehicles and delivered over 240,000 vehicles. We would like to thank our customers for their patience as we work through global supply chain and logistics challenges.

***************

Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

Investor Relations Contact:
This email address is being protected from spambots. You need JavaScript enabled to view it.