Market Newsdesk

Mid Penn Bancorp, Inc. Reauthorizes and Expands Treasury Stock Repurchase Program

HARRISBURG, Pa.–(BUSINESS WIRE)–
Mid Penn Bancorp, Inc. (NASDAQ: MPB) (“Mid Penn” or the “Corporation”), the parent company of Mid Penn Bank and MPB Financial Services, LLC, is pleased to announce the reauthorization and expansion of its treasury stock repurchase program, which now accommodates up to an additional $50 million in repurchase activity.

On April 21, 2026, the Board of Directors of Mid Penn (the “Board”) approved the renewal of the Corporation’s treasury stock repurchase program through April 30, 2027, as well as an increase in the number of shares available for future repurchases under the program. As modified, the repurchase program authorizes the Corporation to repurchase up to an additional $50 million of Corporation common stock, from time to time. The shares may be purchased in open market or private transactions, including pursuant to Rule 10b5-1 trading plans, at the discretion of management and subject to the limitations of applicable securities laws.

“This reauthorization and expansion of our treasury stock repurchase program reflects the Board’s firm commitment to driving shareholder value,” Mid Penn Chair, President and CEO Rory G. Ritrievi said. “While our priority remains investing in organic growth, this authorization provides the Board with another tool to support that commitment when appropriate.”

The repurchase program may be modified, suspended or terminated at any time, without prior notice. Repurchases, if any, will be made in the Corporation’s discretion based upon a number of factors, including liquidity, market conditions, the availability of alternative investment opportunities and other factors the Corporation deems appropriate. The repurchase program does not obligate the Corporation to repurchase any shares.

About Mid Penn Bancorp, Inc.

Mid Penn Bancorp Inc. (NASDAQ: MPB), headquartered in Harrisburg, Pennsylvania, is the parent company of Mid Penn Bank, a full-service commercial bank. Mid Penn operates 62 retail locations throughout Pennsylvania and central and southern New Jersey, has total assets of approximately $7 billion, and offers a comprehensive portfolio of financial products and services to the communities it serves. To learn more, please visit www.midpennbank.com.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by such forward-looking terminology as “continues,” “expect,” “look,” “believe,” “anticipate,” “may,” “will,” “should,” “projects,” “strategy” or similar statements. Forward-looking statements include information about the Corporation’s future financial performance, business strategy, projected plans and objectives and are based on the current beliefs and expectations of management. The Corporation’s management believes these forward-looking statements are reasonable, but they are all inherently subject to significant business, economic and competitive risks and uncertainties, many of which are beyond the Corporation’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Prospective investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties and, accordingly, investors should not place undue reliance on these forward-looking statements, which speak only as of the date they are made.

For a more detailed description of these and other factors which would affect our results, please see Mid Penn’s filings with the Securities and Exchange Commission (SEC), including those risk factors identified in the “Risk Factors” section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent filings with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Mid Penn on its website or otherwise. Mid Penn assumes no obligation for updating any such forward-looking statements at any time, except as required by law.

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Jennifer Trautlein

717-914-6577

[email protected]

KEYWORDS: Pennsylvania United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

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IonQ Publishes Definitive Technical Report, Establishing Its Fault-Tolerant Quantum Computing Trajectory – Setting a New Standard for Technical Specificity and Transparency

New engineering blueprint outlines IonQ’s end-to-end path to scaling fault-tolerant quantum computers to 10,000 physical qubits and beyond

COLLEGE PARK, Md.–(BUSINESS WIRE)–
IonQ (NYSE: IONQ), the world’s leading quantum platform company, today announced a definitive, full-stack, buildable blueprint for scalable, fault-tolerant quantum computing. This publication sets a new standard for technical specificity and transparency in the quantum industry.

“The level of detail and completeness in our blueprint is a major global first and milestone for the quantum industry. IonQ’s specificity sets a new standard and distinguishes IonQ with its tangibility, resting on capabilities our hardware has already demonstrated including 99.99% two-qubit fidelity and reliable ion transport. This historic work demonstrates precisely why IonQ is on track to be the first to unlock fully fault tolerant quantum computers – as we published in June 2025,” said Niccolo de Masi, IonQ Chairman and CEO.

The technical paper describes IonQ’s end-to-end architecture for fault-tolerant quantum computing, spanning compiler design and error correction to hardware, control systems, and ion movement. It outlines in detail how the company intends to move from today’s systems to utility-scale quantum computers.

While IonQ’s current systems lead in delivering real world solutions and business outcomes, achieving the next level of performance means moving past the constraints of noise, scale, and lack of modularity. IonQ’s fault-tolerant framework creates a logical computing layer that actively detects and corrects errors in real time. The result is a practical path toward quantum computers capable of running longer, more complex computations with greater reliability.

The technical report describes the details behind IonQ’s announced plans to scale toward large fault-tolerant systems and reflects the company’s continued focus on performance, modularity, and commercial readiness. IonQ has tangibly shown today that for its current architecture, fault-tolerant quantum computing is an engineering challenge with a clear and achievable roadmap in the coming quarters.

IonQ was the first commercial company to link remote ion-traps using quantum entanglement; the first company to achieve 99.99% two-qubit gate fidelity; as well as the first company to convert quantum frequencies into telecom wavelengths; and it continues on its innovation track toward fault tolerant quantum computing.

The full technical roadmap is available here.

About IonQ

IonQ, Inc. [NYSE: IONQ] is the world’s leading quantum platform and merchant supplier – delivering integrated quantum solutions across computing, networking, sensing, and security. IonQ’s newest generation of quantum computers, the IonQ Tempo, is the latest in a line of cutting-edge systems that have been helping customers and partners including Amazon Web Services, and AstraZeneca achieve 20x performance results and accelerate innovation in drug discovery, materials science, financial modeling, logistics, cybersecurity, and defense. In 2025, the company achieved 99.99% two-qubit gate fidelity, setting a world record in quantum computing performance.

Headquartered in College Park, Maryland, IonQ has operations in California, Colorado, Massachusetts, Tennessee, Washington, Italy, South Korea, Sweden, Switzerland, Canada, and the United Kingdom. Our quantum computing services are available through all major cloud providers, while we also meet the needs of networking and sensing customers across land, sea, air, and space. IonQ is making quantum platforms more accessible and impactful than ever before. Learn more at IonQ.com.

IonQ Forward-Looking Statements

This press release contains forward-looking statements. All statements contained in this press release other than statements of historical fact are forward-looking statements, including statements regarding IonQ’s efforts to develop next generation technologies, including without limitation, fault tolerant quantum computers and systems, quantum operations and utility-scale quantum computing. In some cases, you can identify these statements by forward-looking words such as “build,” “strengthen,” “continue,” “scale,” “trajectory,” “drive,” “move,” “toward,” “forward,” “pending,” “look forward,” “accelerate,” “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “confident” and other similar expressions. These statements are only predictions based on our expectations and projections about future events as of the date of this press release and are subject to a number of risks, uncertainties and assumptions that may prove incorrect, any of which could cause actual results to differ materially from those expressed or implied by such statements, including, among others, those described under the heading “Risk Factors” in our most recent filings with the Securities and Exchange Commission. New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement we make. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. Except as otherwise required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422692793/en/

IonQ Media contacts:

Cheryl Krauss

[email protected]

Tor Constantino

[email protected]

IonQ Investor Contact:

[email protected]

KEYWORDS: Maryland United States North America

INDUSTRY KEYWORDS: Automotive Technology Research Contracts Automotive Manufacturing Logistics/Supply Chain Management Manufacturing Defense Utilities Semiconductor Other Automotive Alternative Energy Air Energy Transport Software Networks Internet Science Hardware

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TSMC Debuts A13 Technology at 2026 North America Technology Symposium

Newest Node Pushes Density Scaling and Energy Efficiency to New Heights to Address Industry’s Most Demanding Applications

SANTA CLARA, Calif.–(BUSINESS WIRE)–
TSMC (TWSE: 2330, NYSE: TSM) today debuted its latest innovation in its most advanced process technology at the Company’s 2026 North America Technology Symposium. TSMC’s new A13 process is a direct shrink of its industry-leading A14 node announced in 2025, enabling even more compact and efficient designs to address insatiable customer demand in computational requirements for next-generation artificial intelligence, high-performance computing (HPC), and mobile applications.

Representing TSMC’s commitment to continuous improvement, A13 provides 6% area savings from A14. Design rules are fully backward compatible with A14, enabling customers to quickly migrate their designs to TSMC’s latest nanosheet transistor technology. In addition, A13 delivers increased power efficiency and performance gains through design-technology co-optimization, and is scheduled to enter production in 2029, one year after A14.

A13 was one of many technology innovations highlighted at TSMC’s North America Technology Symposium in Santa Clara, California, which kicks off the event series around the world in the coming months. With the theme of “Expanding AI with Leadership Silicon,” the technology symposiums are TSMC’s largest annual customer events, showcasing the Company’s breakthroughs in technology development and manufacturing service.

“At TSMC, we understand our customers are always looking ahead to their next innovation and they come to us for a reliable stream of new silicon technologies, like A13, meticulously engineered to be ready for high-volume production right when their visionary new designs demand them,” said TSMC Chairman and CEO Dr. C.C. Wei. “TSMC’s advanced process technologies lead the industry in density, performance and power efficiency, and we continually strive to make them even better for our customers’ future products, ensuring customers’ success as their most reliable technological partner.”

Other new technologies unveiled at the North America Technology Symposium include:

Advanced Logic

• At the event, TSMC is also previewing its A14 platform enhancement A12, which features Super Power Rail technology to provide backside power delivery for AI and HPC applications. A12 is also scheduled to enter production in 2029.

• TSMC continues to advance its 2nm platform with the introduction of N2U, which employs design-technology co-optimization to reach speed gains of 3-4% or power reduction of 8-10% and a 1.02-1.03X logic density improvement from N2P. A balanced option for AI, HPC, and mobile applications leveraging the process maturity and strong yield performance of the 2nm technology platform, N2U is scheduled for production in 2028.

TSMC 3DFabric^® Advanced Packaging and 3D Silicon Stacking

• To support AI demand for more computing power and memory in a single package, TSMC continues to expand its Chip on Wafer on Substrate (CoWoS^®) technology to integrate more silicon. The Company is now producing 5.5-reticle size CoWoS and planning for even larger versions. A 14-reticle size CoWoS, capable of integrating approximately 10 large compute dies and 20 HBM stacks, is slated for production in 2028. This will be followed by an expansion to beyond 14 reticles in 2029. These new offerings provide customers with more options for AI compute scaling and complement TSMC’s 40-reticle size SoW-X System-on-Wafer technology also expected in 2029.

• TSMC is also offering its TSMC-SoIC^® 3D chip stacking technology on its most advanced technology platform, with A14-to-A14 SoIC set to be available for production in 2029. It will provide 1.8X higher die-to-die I/O density compared with N2-on-N2 SoIC, supporting higher bandwidth of data transfer between stacked chips.

• TSMC’s Compact Universal Photonic Engine (TSMC-COUPE™) is set to reach a key milestone with a true co-packaged optics solution using COUPE on substrate beginning production in 2026. By integrating the COUPE optical engine directly inside the package, TSMC achieves 2X power efficiency and 10X latency reduction versus a pluggable version on the circuit board. The technology is featured in a 200Gbps micro-ring modulator, a highly compact and energy-efficient solution to move data between racks in data centers.

Automotive and Robotics

• Advanced Driver Assistance Systems (ADAS) and autonomous vehicles require leading-edge technologies along with stringent quality and reliability standards. Physical AI applications, such as humanoid robots, are adopting similarly demanding requirements. To address these needs, TSMC announced N2A, the first automotive-grade process technology with nanosheet transistors. N2A provides 15-20% speed gain at the same power compared with N3A and is scheduled to complete AEC-Q100 qualification in 2028. Furthermore, TSMC is making “Auto-Use” design kits available within its N2P process design kit (PDK), enabling customers to factor in automotive usage conditions in the design. This allows customers an earlier design start before N2A process is fully qualified.

• TSMC’s efforts to speed up automotive product cycles are already paying off for customers as N3A enters production in 2026. With the N3 “Auto Early” program, customers were able to start designs in 2023, and today more than 10 products are planned on N3A technology to make automobiles smarter, greener, and safer for consumers.

Specialty Technology

• TSMC is the first to bring high voltage technology into the FinFET era in 2026 with its N16HV process aimed at display driver applications. For smartphone display drivers, N16HV will increase gate density by 41% and reduce power by 35% compared to TSMC’s N28HV process. For near-eye displays, N16HV can shrink die area by 40% and reduce power by over 20%, enhancing the usability of applications such as smart glasses.

About TSMC

TSMC pioneered the pure-play foundry business model when it was founded in 1987, and has been the world’s leading dedicated semiconductor foundry ever since. The Company supports a thriving ecosystem of global customers and partners with the industry’s leading process technologies and portfolio of design enablement solutions to unleash innovation for the global semiconductor industry. With global operations spanning Asia, Europe, and North America, TSMC serves as a committed corporate citizen around the world.

TSMC deployed 305 distinct process technologies, and manufactured 12,682 products for 534 customers in 2025 by providing the broadest range of advanced, specialty and advanced packaging technology services. The Company is headquartered in Hsinchu, Taiwan. For more information please visit https://www.tsmc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422346925/en/

TSMC Spokesperson:

Wendell Huang

Senior Vice President and CFO

Media Contacts:

Nina Kao

Head of Public Relations

Tel: 886-3-563-6688 ext. 712-5036

Mobile: 886-988-239-163

E-Mail: [email protected]

Michael Kramer

Public Relations

Tel: 886-3-563-6688 ext. 712-8629

Mobile: 886-988-931-352

E-Mail: [email protected]

KEYWORDS: California North America United States Asia Pacific Europe Taiwan

INDUSTRY KEYWORDS: Software Vehicle Technology Mobile/Wireless Internet Hardware Robotics IOT (Internet of Things) Technology Autonomous Driving/Vehicles Automotive Artificial Intelligence Semiconductor Nanotechnology

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Cadence Collaborates with TSMC to Accelerate Design of Next-Generation AI Silicon

Expanding partnership enables Cadence’s Design for AI and AI for Design strategy across TSMC’s N3, N2, A16 and A14 process nodes​

• Developing “agent‑ready” digital and analog flows that integrate agentic AI to enable goal‑driven PPA, reliability and productivity optimization.

• Cadence’s TSMC‑certified digital, custom/analog, 3D‑IC and signoff platforms reduce design iterations and time to tapeout.

• Strong customer momentum designing on TSMC’s 3nm and 2nm technologies underscores the collaboration’s broad market impact.

 

SAN JOSE, Calif.–(BUSINESS WIRE)–
Cadence (Nasdaq: CDNS) today announced an expansion of its longstanding relationship with TSMC to accelerate AI-driven semiconductor innovation. The expanded collaboration will deliver IP, signoff-ready, end-to-end design infrastructure, and advanced, certified flows for leading-edge AI silicon on TSMC’s N3, N2, A16™ and A14 process technologies. The companies’ enhanced work will help customers reduce iterations and improve correlation for DTCO-focused advanced AI and HPC designs—accelerating time to silicon with greater confidence. Customer momentum underscores the impact of this collaboration, with many early and mainstream companies actively designing on TSMC’s 3nm or 2nm technologies.​

“AI silicon innovation at advanced nodes demands a signoff-ready approach that spans the full design cycle and scales from SoCs to chiplet and 3D-IC architectures,” said Chin-Chi Teng, senior vice president and general manager, Cadence. “Through collaboration with TSMC, we’re advancing our Design for AI and AI for Design strategy by uniting certified flows with silicon-proven IP and building the agent-ready foundation that will help engineers improve productivity as complexity continues to rise.”

“The growing demands of AI compute workloads, combined with compressed design cycles, require advanced, energy-efficient silicon technologies, streamlined design flows, and silicon-validated IPs,” said Aveek Sarkar, Director of the Ecosystem and Alliance Management Division at TSMC. “Through our collaboration with Open Innovation Platform® (OIP) ecosystem partners like Cadence, we empower customers to confidently design cutting-edge silicon using TSMC’s latest process technologies and 3DFabric® advanced packaging solutions —unlocking transformative opportunities for AI-driven innovation.”

Design for AI: Silicon-Proven IP, and Certified, End-to-End Flows

Cadence is delivering a rich IP portfolio for TSMC N2P, including DDR5 12.8G MRDIMM, PCIe® 6.0, LPDDR6/5X 14.4G and HBM4E 16G. The Cadence® Artisan® foundation IP advanced-node portfolio is now in production designs using TSMC N3 process technologies.

Cadence enables semiconductor teams with certified, end-to-end EDA flows that scale from advanced-node SoCs to chiplet and 3D-IC designs, including implementation with the Innovus^™ Implementation System; custom/analog implementation and simulation with Virtuoso® Studio and the Spectre® Simulation Platform; thermal analysis with the Celsius^™ Thermal Solver, Voltus^™ IC Power Integrity Solution, and EMX^® Planar 3D Solver; and signoff technologies with Tempus^™ Timing and ECO Solution, Quantus^™ Extraction Solution, Liberate™ Characterization Portfolio, and Pegasus^™ Verification System; all certified for TSMC N2 and A16, and ongoing collaboration for A14 PDKs to accelerate convergence of tapeout-quality results for AI/HPC applications.​​ Additionally, the Genus Synthesis Solution is enabled for these process technologies and on-going collaboration on Clarity^™ 3D Solver.

For 3D-IC and heterogeneous integration, the Cadence Integrity™ 3D-IC Platform supports the TSMC-COUPE™ Reference Flow for stacked-die, while Virtuoso Studio’s heterogeneous integration methodology adds silicon photonics support. Celsius thermal-aware flow is enabled including PIC placement with Virtuoso and signal integrity analysis with EMX. It also features quality checks and physical verification with the Pegasus Verification System for heterogeneous systems.

AI for Design: “Agent-Ready” Infrastructure

Cadence’s agentic AI boosts productivity in AI semiconductor and 3D-IC design by shifting EDA from tool-by-tool workflows to goal-driven, agentic execution. Working with TSMC, Cadence is preparing “agent-ready” design flows, optimization engines, and signoff infrastructure. These capabilities enable AI systems to combine domain reasoning with physics-based analysis, driving convergence of PPA and reliability tradeoffs across all aspects of design.

“The increasing scale and complexity of next-generation AI silicon require a reinvented approach to design that integrates accelerated computing and agentic AI at every stage of the chip design cycle,” said Tim Costa, vice president and general manager of computational engineering at NVIDIA. “By collaborating with Cadence, NVIDIA is helping advance the EDA tools necessary for its design teams and the global semiconductor ecosystem to optimize performance and accelerate the delivery of the world’s most sophisticated AI architectures.”

The enhanced Genus Synthesis Solution, Innovus Implementation System, and Cadence Cerebrus^® Intelligent Chip Explorer’s AI-driven implementation is optimized to support TSMC NanoFlex™ Pro standard cell architecture for DTCO, enabling fine-tuning speed and power efficiency during floorplan and placement. In addition, front-end placement and back-end routing rules improve correlation between pre-route and post-route results; and TSMC’s A16 Super Power Rail enables denser and faster designs by routing power nets on the backside of the chip.​

In custom design, Cadence has embedded agentic AI in Virtuoso Studio flows with circuit optimization for TSMC process technologies. This includes the enablement for N2-to-A14 Analog Design Migration flow.​

Customer Momentum at 3nm and 2nm

Customers are successfully designing silicon on TSMC’s 3nm and 2nm technologies, reflecting broad adoption across the AI and high-performance computing ecosystem. This mutual customer momentum reinforces the role of certified flows, silicon-proven IP, and signoff-ready infrastructure in enabling faster, more confident delivery of next-generation AI silicon.​

“As AI and high-performance computing workloads grow, there is increasing demand for efficient compute platforms that can be delivered at advanced process nodes,” said Eddie Ramirez, vice president of go-to-market, Cloud AI Business Unit at Arm. “Collaboration within the ecosystem—including between leading design and manufacturing partners such as Cadence and TSMC—plays an important role in enabling the next generation of Arm-based infrastructure for AI and HPC deployments.”

“Positron is building a purpose-designed AI inference accelerator chip optimized for transformer workloads that demands both leading-edge process technology and high-bandwidth connectivity,” said Thomas Sohmers, CTO at Positron. “By licensing Cadence’s PCIe 6.0 SerDes IP on the TSMC N3P process node, we are able to integrate silicon-proven, high-speed interfaces with confidence. The Cadence-TSMC partnership and Cadence’s front-end tooling, including Genus Synthesis Solution and Innovus Implementation System, gives us a dependable, mature and highly predictable path to tapeout—exactly what we need as we bring our second-generation inference accelerator rapidly to market.”

About Cadence

Cadence is a market leader in AI and digital twins, pioneering the application of computational software to accelerate innovation in the engineering design of silicon to systems. Our design solutions, based on Cadence’s Intelligent System Design™ strategy, are essential for the world’s leading semiconductor and systems companies to build their next-generation products from chips to full electromechanical systems that serve a wide range of markets, including hyperscale computing, mobile communications, automotive, aerospace, industrial, life sciences and robotics. In 2024, Cadence was recognized by the Wall Street Journal as one of the world’s top 100 best-managed companies. Cadence solutions offer limitless opportunities—learn more at www.cadence.com.

© 2026 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks

CATEGORY: FEATURED

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Steve Gartner

513-479-4060

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Software Hardware Electronic Design Automation Artificial Intelligence Robotics Technology Semiconductor Other Technology

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Expansive home sites and a coveted location highlight this new luxury home collection

Titled “Deeper Roots for Stronger Growth,” the report reflects the public benefit corporation’s commitment to generating positive impact alongside its growth

Global Offshore Wind Leaders Partner to Build Nova Scotia Supply Chain

Riggs, Smulders, Cherubini sign teaming agreement

MADRID–(BUSINESS WIRE)–
Riggs Distler & Company, Smulders, and Cherubini Bridges & Structures today announced the companies have signed a strategic Teaming Agreement to support the fabrication and delivery of offshore renewable energy infrastructure in Nova Scotia. The multinational collaboration of industry partners combines U.S and European offshore wind expertise with established Canadian fabrication capabilities to accelerate the development of a domestic offshore wind supply chain for Canada’s rapidly growing renewable energy market. The arrangement also supports Canada’s target of producing 5 GW of offshore wind capacity by 2030.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420031861/en/

The Teaming Agreement announced at WindEurope 2026 builds on a long-standing collaboration between Riggs Distler and Smulders, which supported early growth of the U.S. offshore wind market by combining global expertise with localized supply chain development. Nova Scotia-based steel fabricator Cherubini Bridges & Structures joins the collaboration and will utilize its more than 250,000 square feet of fabrication space across multiple facilities with direct access to quayside, barges, and marine vessels to support local fabrication of wind components.

“This partnership reflects the long-term opportunity offshore wind represents for Nova Scotia,” said Troy Garnett, Vice President of Business Development for Cherubini Bridges & Structures. “With some of the strongest offshore wind resources in the world, Nova Scotia is well positioned to play a meaningful role in the global energy transition. Our large-scale fabrication capability makes Cherubini Bridges & Structures a key partner in enabling a domestic offshore wind supply chain.”

Smulders, backed by European construction leader Eiffage, brings decades of offshore wind experience and a strong track record supporting large-scale projects across global markets. “This agreement represents an important step in supporting a localized offshore wind supply chain,” said David Muylaert, CEO from Smulders. “By working together, we are helping position Nova Scotia for long-term success in the global energy transition.”

Riggs Distler will harness the scale of the Centuri platform, including the localized execution, workforce engagement, and in-country spend of Connect Utility Services, which operates in Nova Scotia and across Atlantic Canada.

“We’ve seen how strong partnerships accelerate offshore wind development and fuel job creation and local supply chain capacity building,” said Stephen M. Zemaitatis, President and CEO of Riggs Distler. “Together, our three companies bring over 200 years of combined experience, uniting global expertise with local capability to support long-term growth in Nova Scotia.”

Forward-Looking Statements

This press release contains forward-looking statements, which can often be identified by the use of words such as “will,” “predict,” “continue,” “forecast,” “expect,” “believe,” “anticipate,” “outlook,” “could,” “target,” “project,” “intend,” “plan,” “seek,” “estimate,” “should,” “may” and “assume,” as well as variations of such words and similar expressions referring to the future. The specific forward-looking statements made herein include (without limitation) statements regarding Riggs Distler’s harnessing of the Centuri platform, which operates in Nova Scotia and across Atlantic Canada, and Nova Scotia’s position to play a meaningful role or for long-term success in the global energy transition. A number of important risks, uncertainties and other factors affecting business and financial results could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, the impact or unanticipated impact of general economic, political and market factors in North America and internationally, fluctuations in interest rates, inflation and foreign exchange rates, monetary policies, business investment and the health of local and global equity and capital markets, management of market liquidity and funding risks, risks related to investments in private companies and illiquid securities, risks associated with financial instruments, changes in accounting policies and methods used to report financial condition (including uncertainties associated with significant judgments, estimates and assumptions), the effect of applying future accounting changes, business competition, operational and reputational risks, technological changes, cybersecurity risks, changes in government administrations, regulation, legislation and policies, changes in tax laws, the impact of trade relations and ongoing trade tensions, including the threat of tariffs and other governmental actions, as well as retaliatory actions, unexpected judicial or regulatory proceedings, catastrophic events, man-made disasters, terrorist attacks, wars and other conflicts, or an outbreak of a public health pandemic or other public health crises. The statements in this press release are (i) made as of the date of this press release, even if subsequently made available elsewhere, and (ii) based on assumptions and assessments made by management in light of their experience and perceptions of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Except to the extent required by applicable law, we do not assume any obligation to update or revise the forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise. You are cautioned not to place undue reliance on these forward-looking statements.

About Riggs Distler

Riggs Distler is a leading energy infrastructure contractor delivering construction and maintenance services across power, utility, and renewable markets. Riggs Distler is a subsidiary of Centuri Holdings, Inc., a strategic utility and energy infrastructure services company that partners with regulated utilities and energy providers to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada.

About Smulders

Smulders is an international steel construction company specializing in offshore wind foundations and substations and operates as part of the Eiffage Group.

About Cherubini Bridges & Structures

Cherubini Bridges & Structures is a Canadian steel fabrication company based in Nova Scotia with over 60 years of experience delivering complex structural steel projects. The company supports major infrastructure and industrial projects across North America and globally, with capabilities spanning fabrication, assembly, and erection. Cherubini has extensive experience across sectors including transportation, industrial, and renewable energy, supporting large-scale and complex projects.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420031861/en/

Jennifer Russo

[email protected]

(m) 602 781 6958

KEYWORDS: Europe Spain North America Canada

INDUSTRY KEYWORDS: Utilities Other Construction & Property Manufacturing Alternative Energy Energy Construction & Property Steel

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Kindle Energy Breaks Ground on Blackstone-Backed $1.2 Billion Natural Gas Power Generation Facility in West Virginia

WEST VIRGINIA & NEW YORK–(BUSINESS WIRE)–
Kindle Energy today announced it has broken ground at Wolf Summit Energy (“Wolf Summit”), a previously announced fully contracted, 600-megawatt greenfield combined-cycle gas turbine (“CCGT”) power generation facility in Harrison County, West Virginia backed by Blackstone (NYSE: BX), through funds affiliated with Blackstone Energy Transition Partners (collectively, “Blackstone Energy Transition Partners”).

Wolf Summit will be the first-ever combined-cycle natural gas power plant built in West Virginia and is designed to help deliver efficient and reliable power to meet the growing energy needs of Old Dominion Electric Cooperative (ODEC), which serves approximately 1.5 million residents across Virginia, Maryland and Delaware. The project is expected to create 500 construction jobs, as well as spur additional local economic development.

Lee Davis, Kindle Energy CEO, said: “Kindle Energy is excited to bring Wolf Summit to West Virginia to serve ODEC and generate efficient and reliable power supply across the region. We look forward to our continued partnership with Blackstone, ODEC, GE Vernova and the local community as we progress construction.”

Bilal Khan, a Senior Managing Director, and Mark Zhu, a Managing Director, at Blackstone, said: “Today marks an important milestone in delivering affordable, new and efficient power generation to help meet rising electricity demand. We’re pleased to partner with local stakeholders to further advance this project, supporting jobs in West Virginia while strengthening reliable power supply for the region.”

“The addition of Wolf Summit to our power supply portfolio is a key step in meeting the long-term energy and capacity needs of our members,” said Chris Cosby, President and CEO of ODEC. “Securing generation in the same transmission zone where we serve load is designed to protect our members from transmission constraints and associated congestion costs, energy price spikes and capacity cost risks—while reinforcing the reliability of our entire generation fleet.”

Brian Ray, CEO of GE Vernova Financial Services, said: “We are proud to partner with Kindle Energy and Blackstone on the development and financing of Wolf Summit, which will help deliver more efficient and reliable power to meet growing electricity demand in the region. The project also highlights the strength of GE Vernova’s 7HA.02 technology and our ability to support customers across financing and energy equipment solutions.”

“Providing reliable energy is our duty as Americans. With the PJM grid requiring massive new generation to prevent blackouts, West Virginia is stepping up to the plate,” said Governor Morrisey. “Wolf Summit Energy is a 600-megawatt solution that ensures 1.5 million people have the 24/7 baseload power they need. The Mountain State will always stand as the ultimate defender of American energy security.”

About Blackstone Energy Transition Partners

Blackstone Energy Transition Partners is Blackstone’s strategy for control-oriented equity investments in energy-related businesses, with a successful long-term record, having committed over $27 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering more reliable, affordable and cleaner energy to meet the growing needs of the global community. In the process, we work to build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at https://www.blackstone.com/our-businesses/blackstone-energy-transition-partners/.

About Blackstone

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422186042/en/

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Jennifer Heath

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KEYWORDS: West Virginia Maryland Virginia Delaware New York United States North America

INDUSTRY KEYWORDS: Oil/Gas Alternative Energy Other Professional Services Construction & Property Energy Other Policy Issues Finance Banking Business Professional Services Other Natural Resources Public Policy/Government Natural Resources Other Energy Other Construction & Property

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