Revolo Biotherapeutics Announces Positive Data from Additional Phase 1 Clinical Trial of ‘1104, its Peptide Drug for Allergic Disease

‘1104 was safe and well-tolerated without serious adverse events

NEW ORLEANS and LONDON, May 04, 2021 (GLOBE NEWSWIRE) — Revolo Biotherapeutics (“Revolo Bio” or the “Company”), a company developing therapies that reset the immune system to achieve superior long-term remission in patients with autoimmune (‘1805 a protein drug) and allergic disease (‘1104 a peptide drug), announced today positive data from a multiple ascending dose (MAD) Phase 1 clinical trial evaluating the safety and tolerability of ‘1104, a first-in-class peptide for the treatment of allergic disease. The data demonstrated that ‘1104 was safe and well-tolerated at the two doses evaluated (4 and 8 mg) without serious adverse events.

“These data, together with the previous positive safety data seen in a Phase 1 clinical trial of ‘1104 in 94 healthy volunteers and people with mild asthma, support the thesis that ‘1104 is a safe and tolerable treatment option for people with allergic disease,” said Jeff Myers M.D. Ph.D., Chief Medical Officer of Revolo Bio. “In totality, the findings support continued advancement and further evaluation of ‘1104 in our upcoming Phase 2 clinical trials.”

Jonathan Rigby, Chief Executive Officer of Revolo Bio, added, “Despite decades of research, people with allergic diseases are still in need of treatments that provide long-term disease remission and avoid immunosuppression. In multiple preclinical studies, ‘1104 effectively reduced the number of key cells involved in allergic inflammation.  The encouraging safety data support our plan to evaluate ‘1104 in two upcoming Phase 2 clinical trials in eosinophilic esophagitis and allergen sensitivity.”

The Phase 1 randomized, double-blind, placebo-controlled clinical trial (NCT04748536) was designed to evaluate the safety and tolerability of multiple doses of ‘1104 in healthy volunteers. The study enrolled 18 subjects in two cohorts. The first cohort (n=8) received 4 mg of ‘1104 (n=6) intravenously or placebo (n=2) once daily for five days. The second cohort (n=10) received 8 mg of ‘1104 (n=8) intravenously or placebo (n=2) once daily for seven days.

About
‘1104

‘1104 is a first-in-class peptide derived from a natural immune-regulatory protein, mTB Chaperonin 60.1 that is involved in resetting the immune system. Revolo Bio is advancing ‘1104 through two Phase 2 trials: one in patients with eosinophilic esophagitis (EoE) and one is patients with allergen sensitivity, while exploring its potential for other allergic diseases.

About Revolo Biotherapeutics

Revolo Biotherapeutics is developing therapies that reset the immune system to achieve superior long-term remission for patients with autoimmune and allergic disease, without the immune system suppression seen with current therapies. Its two drug candidates, ‘1805 and ‘1104, a protein and a peptide respectively, reset the immune system by preventing the chronic pro-inflammatory immune response that results in autoimmune or allergic disease. ‘1805 is a modified analogue of a key protein in immune function and is entering clinical development for its second Phase 2 trial in moderate-to-severe rheumatoid arthritis and a Phase 2 clinical trial in non-infectious uveitis. ‘1104 is a peptide derived from a natural immune-regulatory protein and is entering Phase 2 clinical development for patients with eosinophilic esophagitis (EoE) and allergic disease. The disease-agnostic mechanism of action of Revolo Biotherapeutic’s assets provides a potential platform for the development of treatments for multiple autoimmune and allergic diseases.

For further information, please visit www.revolobio.com.

Company Contact

Marylyn Rigby, VP Investor Relations & Marketing
[email protected]

Media Contact

Monica Rouco Molina, Ph.D.
LifeSci Communications
+1-929-469-3850
[email protected]



U.S. Department of Energy Awards FuelCell Energy an Additional $8 Million in Funding For its Differentiated Solid Oxide Platform

  • DOE award advances SOFC Development for Sub-Megawatt high efficiency power generation
  • Continues evolving FuelCell Energy’s proprietary Solid Oxide fuel cell technology to deliver an ultra-highly efficient platform to the market
  • Facilitates progress of FuelCell Energy’s solid oxide electrolysis, the core to the Company’s long-duration hydrogen-based storage solution

DANBURY, Conn., May 04, 2021 (GLOBE NEWSWIRE) —  FuelCell Energy, Inc. (Nasdaq: FCEL) — a global leader in fuel cell technology with a purpose of utilizing its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy— announces progress toward achieving commercial deployment of its solid oxide fuel cell (SOFC) technology. The technical progress in ongoing programs is further advanced with additional funding provided by the U.S. Department of Energy (DOE). The Company is pleased to report that based on its progress and differentiated platform it has been awarded Phase 2 funding in the amount of $8 million for the previously announced ARPA-E project for development of ultra-high efficiency SOFC systems for power generation.

“We continue to make progress in advancing our solid oxide fuel cell platform toward commercialization with the aid of key DOE programs in addition to our own capital investment,” commented Jason Few, President and Chief Executive Officer of FuelCell Energy. “With the addition of solid oxide technology, FuelCell Energy offers one of the most complete portfolios of stationary fuel cell platforms in the industry. FuelCell Energy is committed to providing distributed power platforms that help modernize the electric grid, provide a path to decarbonization, deliver energy resiliency and offer a solution to more seamlessly integrate intermittent sources of renewable power like wind and solar.”

This additional funding commitment from the DOE represents another key step in FuelCell Energy’s path to commercialize its high efficiency solid oxide technology. The multi-stack module that forms the core of the system is a modular building block easily scalable for larger systems. FuelCell Energy is committed to delivering technology that not only delivers on decarbonization but that leverages the billions of dollars invested in global energy infrastructure.

Advancing High Efficiency Power Generation

The ARPA-E project, under the “Innovative Natural-gas Technologies for Efficiency Gain in Reliable and Affordable Thermochemical Electricity-generation” (INTEGRATE) program is developing system approaches to achieving ultra-high electrical efficiency (>70%) in SOFC power generation systems. After successfully executing Phase 1 design activities, the Company has been awarded an additional $8 million of funding to proceed to Phase 2 to design and build an ultra-high efficiency SOFC sub-megawatt power generation prototype system. This project includes the development of improved pressurized stack module designs, critical to supporting the configuration of very high-efficiency power generation systems, while also enhancing the efficiency of solid oxide-based electrolysis and energy storage systems.

Advancing High Efficiency Electrolysis

Separately, the Company continues to make progress on the previously announced Modular Solid Oxide Electrolysis project funded by DOE’s Office of Energy Efficiency and Renewable Energy (EERE) to advance the use of its solid oxide platform for high efficiency electrolysis. Electrolysis uses electricity to split water into hydrogen and oxygen, the opposite of fuel cell operation. When solid oxide cells are used for electrolysis, they are capable of producing hydrogen much more efficiently than currently available technology.

“Our proprietary solid oxide technology is differentiated by its high efficiency in converting electricity into hydrogen through electrolysis and utilization of the same fuel cell stack to recall that hydrogen from its integrated long-duration hydrogen energy storage to produce zero-carbon hydrogen-based power generation,” said Mr. Few. “FuelCell Energy’s platform has the ability to extend the life and usefulness of existing nuclear plants and firm-up the capacity of intermittent renewable technologies. Additionally, electrolysis technology supports the hydrogen economy by providing carbon-free, clean hydrogen for transportation, power generation, agricultural uses, and a host of other industrial applications such as making steel. Our solid oxide platform will allow us to add long-duration energy storage, electrolysis, and global sub-megawatt power generation to our commercial offerings, increasing the Company’s total addressable commercial markets.”

A solid oxide electrolysis (SOEC) system can run even more efficiently with the addition of thermal heat energy. This EERE project focuses on optimizing the operating parameters for solid oxide electrolysis for high efficiency hydrogen production. Under the program, the Company has built and is operating a SOEC system capable of producing up to 20 kg/day of hydrogen. The test operation has thus far demonstrated an electrical efficiency above 90% and identified opportunities for increasing efficiency to 100% with incorporation of external thermal heat energy. Later this year, under another previously announced DOE project, the Company will demonstrate a 250KW electrolysis system to be located at Idaho National Laboratories (INL). This system will be modified to include hydrogen storage and additional equipment to demonstrate the use of the solid oxide stack in an energy storage application. This platform, which is currently being designed and built, will utilize hydrogen produced by the stack, which is then stored and later returned to the stack, operating in fuel cell mode to produce power from the stored hydrogen. This application, called Reversible Solid Oxide Fuel Cell (RSOFC), where the stack alternates between electrolysis and power generation operation, is expected to be a key enabler to the long duration energy storage needed to incorporate intermittent renewable energy sources, further advancing the clean energy transition.



About FuelCell Energy

FuelCell Energy, Inc. (NASDAQ: FCEL) FuelCell Energy is a global leader in sustainable clean energy technologies that address some of the world’s most critical challenges around energy, safety and global urbanization. As a leading global manufacturer of proprietary fuel cell technology platforms, FuelCell Energy is uniquely positioned to serve customers worldwide with sustainable products and solutions for businesses, utilities, governments and municipalities. Our solutions are designed to enable a world empowered by clean energy, enhancing the quality of life for people around the globe. We target large-scale power users with our megawatt-class installations globally, and currently offer sub-megawatt solutions for smaller power consumers in Europe. To provide a frame of reference, one megawatt is adequate to continually power approximately 1,000 average sized U.S. homes. We develop turn-key distributed power generation solutions and operate and provide comprehensive service for the life of the power plant. Our fuel cell solution is a clean, efficient alternative to traditional combustion-based power generation, and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines. Our customer base includes utility companies, municipalities, universities, hospitals, government entities/military bases and a variety of industrial and commercial enterprises. Our leading geographic markets are currently the United States and South Korea, and we are pursuing opportunities in other countries around the world. FuelCell Energy, based in Connecticut, was founded in 1969.

SureSource, SureSource 1500, SureSource 3000, SureSource 4000, SureSource Recovery, SureSource Capture, SureSource Hydrogen, SureSource Storage, SureSource Service, SureSource Treatment, SureSource Capital, FuelCell Energy, and FuelCell Energy logo are all trademarks of FuelCell Energy, Inc.



Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements with respect to the Company’s anticipated financial results and statements regarding the Company’s plans and expectations regarding the continuing development, commercialization and financing of its fuel cell technology and its business plans and strategies. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, changes to projected deliveries and order flow, changes to production rate and product costs, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, ability to access certain markets, unanticipated manufacturing issues that impact power plant performance, changes in critical accounting policies, access to and ability to raise capital and attract financing, potential volatility of energy prices, rapid technological change, competition, the Company’s ability to successfully implement its new business strategies and achieve its goals, the Company’s ability to achieve its sales plans and cost reduction targets, changes by the U.S. Small Business Administration or other governmental authorities to, or with respect to the implementation or interpretation of, the Coronavirus Aid, Relief, and Economic Security Act, the Paycheck Protection Program or related administrative matters, and concerns with, threats of, or the consequences of, pandemics, contagious diseases or health epidemics, including the novel coronavirus, and resulting supply chain disruptions, shifts in clean energy demand, impacts to customers’ capital budgets and investment plans, impacts to the Company’s project schedules, impacts to the Company’s ability to service existing projects, and impacts on the demand for the Company’s products, as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.


Contact

:

FuelCell Energy, Inc.

[email protected] 
203.205.2491

Source: FuelCell Energy



May Events Center on How Verint Cloud Technology Can Help Companies Achieve Boundless Customer Engagement

May Events Center on How Verint Cloud Technology Can Help Companies Achieve Boundless Customer Engagement

All-Star Keynote Lineup at Engage21 and Thought Leaders from AWS and 8×8 are Among the Featured Speakers

MELVILLE, N.Y.–(BUSINESS WIRE)–Verint® (NASDAQ: VRNT), the Customer Engagement Company, today announced its May events including Engage21, its annual conference, which will showcase the Verint customer Engagement Cloud Platform alongside headlining keynotes from Barbara Corcoran, Jay Shetty, and Charlene Li. Other events focus on Verint solutions for the public sector, improving scheduling adherence, balancing customer experience and expectations and closing the Engagement Capacity Gap.

The Massive Gap Between Customer Expectations and Organization’s Ability Post Pandemic

Verint-Beyond Philosophy On-demand Podcast

Join Founder and CEO of Beyond Philosophy, LLC, Colin Shaw, and Verint’s Nancy Porte, vice president, global customer experience, CCXP, who discuss why so many companies today feel unprepared to meet constantly evolving customer expectations, and what role technology can and should play to help close the Engagement Capacity Gap based on new Verint research.

Using Cloud Technologies on AWS Marketplace to Provide Frictionless Constituent Engagement and Services Experiences

Verint-Amazon Web Services Webinar

May 5, 2 p.m. ET

Learn how Verint solutions on AWS Marketplace can help the public sector better serve constituents with tighter budgets and smaller staffs. Verint’s David Moody, vice president and general manager, citizen engagement, and Jeff Friedman, leader, citizen services at Amazon Web Services (AWS) will lead the webinar.

5 Ways to Tackle Schedule Adherence

Verint-8×8 Webinar

May 6, 12 p.m. ET

Verint’s Trudy Cannon, director of go-to-market strategy, workforce engagement, and 8×8’s Andressa Marlan, senior product marketing manager, CCaaS, will break down the top five actionable ways organizations can tackle and improve schedule adherence.

Finding the Sweet Spot Between High Tech & High Touch

EMEA Engage Online

May 13,
10 a.m. BST

Join Nancy Rademaker, digital and customer-centricity expert, as she shares her insights on how technology has helped create more informed, individualistic, impatient, intuitive and influenced consumers and employees with ever-increasing expectations. She’ll explain how data, insight, systems and algorithms provide the basis for understanding these demands and balancing customer experience and expectations.

CS Week Engage311 Virtual Conference

Virtual Conference

May 17-21

Join Verint’s David Moody, vice president and general manager, citizen engagement, for “Boundless Citizen Engagement – A Global Perspective” on May 20 at 11 a.m. ET. David will share experiences from the City of Edinburgh Council in Scotland, London Borough of Enfield in England, and Brisbane City Council in Australia—including what has worked for them, what outcomes they achieved, and how they implemented their customer experience solutions – with brief demos of the implementations.

Engage21

Verint Annual Virtual Conference

May 19-21

Verint Engage21, the industry’s premier, virtual customer engagement event will feature keynotes by Barbara Corcoran, Jay Shetty, and Charlene Li, as well as Verint thought leaders, well-known industry analysts and executives from many of the leading brands in the world. Discover how to build enduring customer relationships at this free, three-day, virtual event filled with sessions, workshops, and networking—all featuring the latest innovations and tools for achieving Boundless Customer Engagement.

About Verint

Verint® (Nasdaq: VRNT) helps the world’s most iconic brands – including over 85 of the Fortune 100 companies – build enduring customer relationships by connecting work, data and experiences across the enterprise. The Verint Customer Engagement portfolio draws on the latest advancements in AI and analytics, an open cloud architecture, and The Science of Customer Engagement to help customers close the engagement capacity gap.

Verint. The Customer Engagement Company. Learn more at Verint.com.

This press release contains “forward-looking statements,” including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management’s expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2021, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.

VERINT, THE CUSTOMER ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER ENGAGEMENT, THE ENGAGEMENT CAPACITY GAP and THE SCIENCE OF CUSTOMER ENGAGEMENT are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.

Media Relations

Amy Curry

[email protected]

Investor Relations

Matthew Frankel

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Marketing Data Management Communications Technology Software Internet Public Relations/Investor Relations

MEDIA:

Logo
Logo

Yield10 Bioscience to Announce First Quarter 2021 Financial Results and Host a Conference Call on Tuesday, May 11, 2021

WOBURN, Mass., May 04, 2021 (GLOBE NEWSWIRE) — Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience company, today announced that the Company will report its first quarter 2021 financial results and provide a corporate update on Tuesday, May 11, 2021.

Management will host a conference call on Tuesday, May 11, 2021 at 4:30 p.m. ET to review financial results, share corporate highlights, and provide an overall business update. Following management’s formal remarks, there will be a question and answer session.

To listen to the conference call, interested parties within the U.S. should call 1-877-709-8150. International callers should call +1-201-689-8354. The call will also be available through a live webcast and will reference a slide deck, both of which may be accessed through the investor relations section of the Company’s website at www.yield10bio.com.

A replay of the call will be available approximately one hour after the end of the call through Tuesday, May 25, 2021. The replay may be accessed via the Company’s website on the investor relations event page, or by dialing 877-660-6853 (toll-free) or +1-201-612-7415 (international). The audio replay passcode is 13718656.

About
Yield10 Bioscience

Yield10 Bioscience, Inc. is an agricultural bioscience company that is using its differentiated trait gene discovery platform, the “Trait Factory”, to develop improved Camelina varieties for the production of proprietary seed products, and to discover high valuable genetic traits for the agriculture and food industries. Our goals are to efficiently establish a high value seed products business based on developing superior varieties of Camelina for the production of feedstock oils, nutritional oils, and PHA bioplastics, and to license our yield traits to major seed companies for commercialization in major row crops, including corn, soybean and canola. Yield10 is headquartered in Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon, Canada.

For more information about the company, please visit www.yield10bio.com, or follow the Company on Twitter, Facebook and LinkedIn.

(YTEN-E)

Contacts:

Yield10 Bioscience:
Lynne H. Brum, (617) 682-4693, [email protected]

Investor Relations:
Bret Shapiro, (561) 479-8566, [email protected]
Managing Director, CORE IR

Media Inquiries:
Eric Fischgrund, [email protected]
FischTank PR



Expeditors Reports First Quarter 2021 EPS of $1.67

Expeditors Reports First Quarter 2021 EPS of $1.67

SEATTLE–(BUSINESS WIRE)–
Expeditors International of Washington, Inc. (NASDAQ:EXPD) today announced first quarter 2021 financial results including the following highlights compared to the same quarter of 2020:

  • Diluted Net Earnings Attributable to Shareholders per share (EPS1) increased 135% to $1.67
  • Net Earnings Attributable to Shareholders increased 135% to $287 million
  • Operating Income increased 142% to $386 million
  • Revenues increased 77% to $3.4 billion
  • Airfreight tonnage volume and ocean container volume both increased 29%

“Never before in our experience has capacity been so scarce in both air and ocean at the same time,” said Jeffrey S. Musser, President and Chief Executive Officer. “As a result, shippers face unprecedented challenges with their supply chains and we are doing everything we can to leverage the strength of our carrier relationships in order to secure space for our customers. During these times, the strength of our flexible, non-asset-based operating model is on display. All products performed very well and we set all-time highs in revenues, operating income and net earnings. We experienced strong growth in airfreight tonnage and ocean containers shipped during the quarter, serviced established customers and on-boarded new business when possible.

“The severity of the ongoing supply/demand imbalance has kept buy and sell rates elevated and volatile, in both the air and ocean markets. Ongoing shortages in international air capacity led to elevated pricing, port congestion, and lack of equipment, which, coupled with a rapid spike in demand, created ocean trade disruptions and significant backlogs. These conditions leave shippers with limited options for getting their products to market. This is one example of the power of our long history of support for our carrier partners during both good times and bad. Amidst persistent disruptions and supply chain realignments, we have remained highly focused and aware of marketplace shifts, while working our strong relationships and executing as efficiently as we ever have to secure precious capacity on behalf of our customers.

“We expect the operating environment to remain unsettled as long as constrained capacity and other disruptions, such as port congestion, the uneven lifting of pandemic-restrictions, and rising fuel costs continue to impact the movement of freight. History tells us that the supply/demand imbalance and rate volatility will stabilize over time. However, if the global response to COVID-19 has taught us anything, it is that conditions can change rapidly in today’s interconnected marketplace. A year ago, it was nearly impossible to imagine the impact of what then lay before us, as economies around the world were shutting down and people were going into isolation to protect themselves from a deadly new virus. As we implemented our business continuity plans around the globe, we also made the decision to invest in our people and not lay off any of our employees. A year later, we are proud of and grateful to our entire workforce for their extraordinary dedication and determined effort to stay safe while delivering the highest level of customer service.”

Bradley S. Powell, Senior Vice President and Chief Financial Officer, added, “Despite comparisons to a relatively soft first quarter a year ago, when the initial disruptions from COVID-19 led to lower volumes in all products, performance during this latest quarter was strong all across the Company, including Air, Ocean, Customs Brokerage, Order Management, Transcon and Distribution. The majority of our workforce continues to work from remote locations, even as we slowly and cautiously explore re-opening our offices for return-to-work in certain countries and locations. While staying safe remains our top priority, we have continued to enhance our productivity and generated the best operating efficiency in the Company’s history. I would continue to caution that we are unable to predict how ongoing disruptions will affect our future operations or financial results going forward, and that we do not expect the current unprecedented operating conditions to persist long-term. We will continue to make important investments in people, processes, and technology, as well as to invest in our strategic efforts to explore new areas for profitable growth.”

Expeditors is a global logistics company headquartered in Seattle, Washington. The Company employs trained professionals in 176 district offices and numerous branch locations located on six continents linked into a seamless worldwide network through an integrated information management system. Services include the consolidation or forwarding of air and ocean freight, customs brokerage, vendor consolidation, cargo insurance, time-definite transportation, order management, warehousing and distribution and customized logistics solutions.

Expeditors International of Washington, Inc.

First Quarter 2021 Earnings Release, May 4, 2021

Financial Highlights for the three months ended March 31, 2021 and 2020 (Unaudited)

(in 000’s of US dollars except per share data)

 

 

 

Three months ended March 31,

 

 

 

2021

 

 

2020

 

 

% Change

 

Revenues

 

$

3,357,540

 

 

$

1,901,864

 

 

77

%

 

Directly related cost of transportation and

other expenses1

 

$

2,406,004

 

 

$

1,286,728

 

 

87

%

 

Salaries and other operating expenses2

 

$

566,021

 

 

$

456,081

 

 

24

%

 

Operating income

 

$

385,515

 

 

$

159,055

 

 

142

%

 

Net earnings attributable to shareholders

 

$

287,220

 

 

$

122,344

 

 

135

%

 

Diluted earnings attributable to

shareholders per share

 

$

1.67

 

 

$

0.71

 

 

135

%

 

Basic earnings attributable to shareholders

per share

 

$

1.70

 

 

$

0.73

 

 

133

%

 

Diluted weighted average shares

outstanding

 

 

171,551

 

 

 

171,450

 

 

 

 

 

Basic weighted average shares outstanding

 

 

169,214

 

 

 

168,735

 

 

 

 

 

1Directly related cost of transportation and other expenses totals Operating Expenses from Airfreight services, Ocean freight and ocean services and Customs brokerage and other services as shown in the Condensed Consolidated Statements of Earnings.

2Salaries and other operating expenses totals Salaries and related, Rent and occupancy, Depreciation and amortization, Selling and promotion and Other as shown in the Condensed Consolidated Statements of Earnings

During the three months ended March 31, 2021, we repurchased 0.9 million shares of common stock at an average price of $92.98 per share. During the three months ended March 31, 2020, we repurchased 4.0 million shares of common stock at an average price of $70.81 per share.

 

 

Employee Full-time Equivalents as of March 31,

 

 

 

2021

 

 

2020

 

North America

 

 

6,819

 

 

 

6,848

 

Europe

 

 

3,595

 

 

 

3,430

 

North Asia

 

 

2,379

 

 

 

2,429

 

South Asia

 

 

1,640

 

 

 

1,677

 

Middle East, Africa and India

 

 

1,477

 

 

 

1,536

 

Latin America

 

 

773

 

 

 

848

 

Information Systems

 

 

973

 

 

 

955

 

Corporate

 

 

399

 

 

 

379

 

Total

 

 

18,055

 

 

 

18,102

 

 

 

First quarter year-over-year

percentage increase in:

 

2021

 

Airfreight

kilos

 

 

Ocean freight

FEU

 

January

 

23

%

 

 

15

%

 

February

 

32

%

 

 

22

%

 

March

 

32

%

 

 

54

%

 

Quarter

 

29

%

 

 

29

%

 

Investors may submit written questions via e-mail to: [email protected]. Questions received by the end of business on May 7, 2021 will be considered in management’s 8-K “Responses to Selected Questions.”

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)

 

 

 

March 31,

2021

 

 

December 31,

2020

 

Assets:

 

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

1,793,393

 

 

$

1,527,791

 

Accounts receivable, less allowance for credit loss of

$5,941 at March 31, 2021 and $5,579 at December 31, 2020

 

 

2,227,039

 

 

 

1,998,055

 

Deferred contract costs

 

 

387,845

 

 

 

327,448

 

Other

 

 

85,918

 

 

 

110,250

 

Total current assets

 

 

4,494,195

 

 

 

3,963,544

 

Property and equipment, less accumulated depreciation and

amortization of $523,829 at March 31, 2021 and $516,988 at

December 31, 2020

 

 

497,376

 

 

 

506,425

 

Operating lease right-of-use assets

 

 

438,667

 

 

 

432,723

 

Goodwill

 

 

7,927

 

 

 

7,927

 

Other assets, net

 

 

16,832

 

 

 

16,884

 

Total assets

 

$

5,454,997

 

 

$

4,927,503

 

Liabilities:

 

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

1,295,178

 

 

$

1,136,859

 

Accrued expenses, primarily salaries and related costs

 

 

311,767

 

 

 

257,021

 

Contract liabilities

 

 

447,779

 

 

 

379,722

 

Current portion of operating lease liabilities

 

 

76,128

 

 

 

74,004

 

Federal, state and foreign income taxes

 

 

64,170

 

 

 

45,437

 

Total current liabilities

 

 

2,195,022

 

 

 

1,893,043

 

Noncurrent portion of operating lease liabilities

 

 

369,286

 

 

 

364,185

 

Deferred federal and state income taxes, net

 

 

12,039

 

 

 

7,048

 

Commitments and contingencies

 

 

 

 

 

 

 

 

Shareholders’ Equity:

 

 

 

 

 

 

 

 

Preferred stock, none issued

 

 

 

 

 

 

Common stock, par value $0.01 per share. Issued and

outstanding: 168,808 shares at March 31, 2021 and 169,294

shares at December 31, 2020

 

 

1,688

 

 

 

1,693

 

Additional paid-in capital

 

 

101,269

 

 

 

157,496

 

Retained earnings

 

 

2,887,323

 

 

 

2,600,201

 

Accumulated other comprehensive loss

 

 

(115,486

)

 

 

(99,753

)

Total shareholders’ equity

 

 

2,874,794

 

 

 

2,659,637

 

Noncontrolling interest

 

 

3,856

 

 

 

3,590

 

Total equity

 

 

2,878,650

 

 

 

2,663,227

 

Total liabilities and equity

 

$

5,454,997

 

 

$

4,927,503

 

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

Condensed Consolidated Statements of Earnings

(In thousands, except per share data)

(Unaudited)

 

 

 

Three months ended March 31,

 

 

 

2021

 

 

2020

 

Revenues:

 

 

 

 

 

 

 

 

Airfreight services

 

$

1,476,961

 

 

$

709,039

 

Ocean freight and ocean services

 

 

958,178

 

 

 

493,427

 

Customs brokerage and other services

 

 

922,401

 

 

 

699,398

 

Total revenues

 

 

3,357,540

 

 

 

1,901,864

 

Operating Expenses:

 

 

 

 

 

 

 

 

Airfreight services

 

 

1,105,590

 

 

 

520,169

 

Ocean freight and ocean services

 

 

746,701

 

 

 

366,483

 

Customs brokerage and other services

 

 

553,713

 

 

 

400,076

 

Salaries and related

 

 

452,105

 

 

 

342,040

 

Rent and occupancy

 

 

45,280

 

 

 

42,524

 

Depreciation and amortization

 

 

12,987

 

 

 

12,660

 

Selling and promotion

 

 

3,070

 

 

 

8,243

 

Other

 

 

52,579

 

 

 

50,614

 

Total operating expenses

 

 

2,972,025

 

 

 

1,742,809

 

Operating income

 

 

385,515

 

 

 

159,055

 

Other Income (Expense):

 

 

 

 

 

 

 

 

Interest income

 

 

1,946

 

 

 

4,807

 

Other, net

 

 

3,000

 

 

 

3,384

 

Other income, net

 

 

4,946

 

 

 

8,191

 

Earnings before income taxes

 

 

390,461

 

 

 

167,246

 

Income tax expense

 

 

102,511

 

 

 

44,464

 

Net earnings

 

 

287,950

 

 

 

122,782

 

Less net earnings attributable to the noncontrolling

interest

 

 

730

 

 

 

438

 

Net earnings attributable to shareholders

 

$

287,220

 

 

$

122,344

 

Diluted earnings attributable to shareholders per share

 

$

1.67

 

 

$

0.71

 

Basic earnings attributable to shareholders per share

 

$

1.70

 

 

$

0.73

 

Weighted average diluted shares outstanding

 

 

171,551

 

 

 

171,450

 

Weighted average basic shares outstanding

 

 

169,214

 

 

 

168,735

 

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 

 

 

 

 

 

Three months ended March 31,

 

 

 

2021

 

 

2020

 

Operating Activities:

 

 

 

 

 

 

 

 

Net earnings

 

$

287,950

 

 

$

122,782

 

Adjustments to reconcile net earnings to net cash from

operating activities:

 

 

 

 

 

 

 

 

Provisions for losses on accounts receivable

 

 

1,199

 

 

 

1,820

 

Deferred income tax expense (benefit)

 

 

8,151

 

 

 

(5,139

)

Stock compensation expense

 

 

11,185

 

 

 

11,156

 

Depreciation and amortization

 

 

12,987

 

 

 

12,660

 

Other, net

 

 

551

 

 

 

433

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

(Increase) decrease in accounts receivable

 

 

(252,914

)

 

 

16,680

 

Increase in accounts payable and accrued

expenses

 

 

233,153

 

 

 

917

 

Increase in deferred contract costs

 

 

(71,258

)

 

 

(16,068

)

Increase in contract liabilities

 

 

79,590

 

 

 

21,201

 

Increase in income taxes payable, net

 

 

46,638

 

 

 

10,488

 

Increase in other, net

 

 

(1,488

)

 

 

(11,930

)

Net cash from operating activities

 

 

355,744

 

 

 

165,000

 

Investing Activities:

 

 

 

 

 

 

 

 

Purchase of property and equipment

 

 

(8,391

)

 

 

(6,127

)

Other, net

 

 

(34

)

 

 

(143

)

Net cash from investing activities

 

 

(8,425

)

 

 

(6,270

)

Financing Activities:

 

 

 

 

 

 

 

 

Proceeds from issuance of common stock

 

 

19,757

 

 

 

23,399

 

Repurchases of common stock

 

 

(85,997

)

 

 

(283,240

)

Payments for taxes related to net share settlement of equity

awards

 

 

(1,275

)

 

 

(1,396

)

Net cash from financing activities

 

 

(67,515

)

 

 

(261,237

)

Effect of exchange rate changes on cash and cash equivalents

 

 

(14,202

)

 

 

(16,011

)

Change in cash and cash equivalents

 

 

265,602

 

 

 

(118,518

)

Cash and cash equivalents at beginning of period

 

 

1,527,791

 

 

 

1,230,491

 

Cash and cash equivalents at end of period

 

$

1,793,393

 

 

$

1,111,973

 

Taxes Paid:

 

 

 

 

 

 

 

 

Income taxes

 

$

46,607

 

 

$

35,304

 

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

AND SUBSIDIARIES

Business Segment Information

(In thousands)

(Unaudited)

 

 

 

UNITED

STATES

 

 

OTHER

NORTH

AMERICA

 

 

LATIN

AMERICA

 

 

NORTH

ASIA

 

 

SOUTH

ASIA

 

 

EUROPE

 

 

MIDDLE

EAST,

AFRICA

AND

INDIA

 

 

ELIMI-

NATIONS

 

 

CONSOLI-

DATED

 

For the three months ended March 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

875,392

 

 

 

94,858

 

 

 

44,864

 

 

 

1,325,621

 

 

 

363,682

 

 

 

493,718

 

 

 

160,609

 

 

 

(1,204

)

 

 

3,357,540

 

Directly related cost of transportation and

other expenses1

 

$

502,637

 

 

 

53,791

 

 

 

26,700

 

 

 

1,084,102

 

 

 

283,860

 

 

 

334,294

 

 

 

121,212

 

 

 

(592

)

 

 

2,406,004

 

Salaries and other operating expenses2

 

$

238,698

 

 

 

25,737

 

 

 

12,377

 

 

 

106,920

 

 

 

43,165

 

 

 

109,455

 

 

 

30,275

 

 

 

(606

)

 

 

566,021

 

Operating income

 

$

134,057

 

 

 

15,330

 

 

 

5,787

 

 

 

134,599

 

 

 

36,657

 

 

 

49,969

 

 

 

9,122

 

 

 

(6

)

 

 

385,515

 

Identifiable assets at period end

 

$

2,747,984

 

 

 

194,050

 

 

 

93,072

 

 

 

988,954

 

 

 

331,271

 

 

 

853,944

 

 

 

265,495

 

 

 

(19,773

)

 

 

5,454,997

 

Capital expenditures

 

$

3,025

 

 

 

122

 

 

 

53

 

 

 

357

 

 

 

579

 

 

 

3,554

 

 

 

701

 

 

 

 

 

 

8,391

 

Equity

 

$

1,985,265

 

 

 

73,066

 

 

 

32,632

 

 

 

342,233

 

 

 

148,293

 

 

 

218,198

 

 

 

121,040

 

 

 

(42,077

)

 

 

2,878,650

 

For the three months ended March 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

650,407

 

 

 

81,831

 

 

 

37,890

 

 

 

537,955

 

 

 

169,042

 

 

 

320,640

 

 

 

105,039

 

 

 

(940

)

 

 

1,901,864

 

Directly related cost of transportation and

other expenses1

 

$

373,961

 

 

 

45,890

 

 

 

23,765

 

 

 

425,301

 

 

 

121,282

 

 

 

221,998

 

 

 

74,976

 

 

 

(445

)

 

 

1,286,728

 

Salaries and other operating expenses2

 

$

225,944

 

 

 

23,712

 

 

 

11,749

 

 

 

57,433

 

 

 

29,908

 

 

 

81,854

 

 

 

25,950

 

 

 

(469

)

 

 

456,081

 

Operating income

 

$

50,502

 

 

 

12,229

 

 

 

2,376

 

 

 

55,221

 

 

 

17,852

 

 

 

16,788

 

 

 

4,113

 

 

 

(26

)

 

 

159,055

 

Identifiable assets at period end

 

$

1,858,250

 

 

 

135,810

 

 

 

68,402

 

 

 

512,808

 

 

 

179,508

 

 

 

554,831

 

 

 

200,382

 

 

 

(24

)

 

 

3,509,967

 

Capital expenditures

 

$

4,497

 

 

 

61

 

 

 

102

 

 

 

325

 

 

 

188

 

 

 

645

 

 

 

309

 

 

 

 

 

 

6,127

 

Equity

 

$

1,369,580

 

 

 

63,378

 

 

 

28,020

 

 

 

237,255

 

 

 

102,001

 

 

 

159,222

 

 

 

113,349

 

 

 

(35,660

)

 

 

2,037,145

 

1Directly related cost of transportation and other expenses totals Operating Expenses from Airfreight services, Ocean freight and ocean services and Customs brokerage and other services as shown in the Condensed Consolidated Statements of Earnings.

2Salaries and other operating expenses totals Salaries and related, Rent and occupancy, Depreciation and amortization, Selling and promotion and Other as shown in the Condensed Consolidated Statements of Earnings.

The Company’s consolidated financial results in the three months ended March 31, 2021 and 2020 were each significantly impacted by the effects of the global pandemic in divergent ways. In the first quarter of 2021, the Company experienced strong volumes and high sell and buy rates as a result of imbalances between demand and carrier capacity and continuing effects of disruptions in supply chains originating in measures to combat the pandemic in 2020. This is in contrast with slower activity in North Asia in the first quarter of 2020 as the pandemic resulted in temporary closures and limited operations in the Company’s China offices. Shipments were also rerouted or delayed by customers and service providers as they were taking their own precautionary measures. These impacts are affecting all of the Company’s geographical segments and most notably the year-over-year comparability of the North Asia segment. In the first quarter of 2021, the People’s Republic of China, including Hong Kong, represented 32% and 27%, respectively, of the Company’s total revenues and total operating income, whereas in the first quarter of 2020 it represented 23% and 25%, respectively.

Jeffrey S. Musser

President and Chief Executive Officer

(206) 674-3433

Bradley S. Powell

Senior Vice President and Chief Financial Officer

(206) 674-3412

Geoffrey Buscher

Director – Investor Relations

(206) 892-4510

KEYWORDS: Washington United States North America

INDUSTRY KEYWORDS: Other Transport Trucking Rail Maritime Air Transport Transportation Logistics/Supply Chain Management Travel

MEDIA:

Perma-Fix Schedules First Quarter 2021 Conference Call

ATLANTA, May 04, 2021 (GLOBE NEWSWIRE) — Perma-Fix Environmental Services, Inc. (NASDAQ: PESI), a nuclear services company, today announced it will host a conference call at 11:00 a.m. Eastern Time on Thursday, May 6, 2021.

A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2243/41236 or on the Company’s website at www.perma-fix.com. The conference call will also be available via telephone by dialing toll free 877-876-9173 for U.S. callers, or +1 785-424-1667 for international callers. The conference call will be led by Mark J. Duff, Chief Executive Officer, Dr. Louis F. Centofanti, Executive Vice President of Strategic Initiatives, and Ben Naccarato, Executive Vice President and Chief Financial Officer of Perma-Fix Environmental Services, Inc.

A webcast will also be archived on the Company’s website and a telephone replay of the call will be available approximately one hour following the call, through Thursday, May 13, 2021, and can be accessed by calling: 877-481-4010 for U.S. callers, or 919-882-2331 for international callers and entering conference ID: 41236.

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc. is a nuclear services company, and leading provider of nuclear and mixed waste management services. The Company’s nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the U.S Department of Energy (“DOE”), the U.S Department of Defense (“DOD”), and the commercial nuclear industry. The Company’s nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide. Please visit us at http://www.perma-fix.com.

Contacts:

David K. Waldman-US Investor Relations
Crescendo Communications, LLC
(212) 671-1021

Herbert Strauss-European Investor Relations
[email protected]
+43 316 296 316



TEGNA Unveils New Automotive and Tourism Attribution Capabilities, National VERIFY Brand and Sports Streaming Offerings at IAB NewFronts

TEGNA Unveils New Automotive and Tourism Attribution Capabilities, National VERIFY Brand and Sports Streaming Offerings at IAB NewFronts

TEGNA’s NewFronts Presentation Showcases Power of Local Media for Reaching Audiences at Scale in Trusted, Brand-Safe Environment

TYSONS, Va.–(BUSINESS WIRE)–
TEGNA Inc. (NYSE: TGNA) is announcing several new initiatives today at the IAB NewFronts, the nation’s largest digital media marketplace featuring some of the most innovative companies in media and entertainment. In its NewFronts debut, TEGNA is sharing insights on how its multiplatform advertising solutions connect brands with their target audiences at scale alongside TEGNA’s trusted, brand-safe news and entertainment content.

With 64 local media properties across the United States, each with dedicated websites, mobile apps, social media channels and OTT apps, TEGNA offers advertisers solutions that reach millions of consumers on any platform they use to consume news and entertainment content. In 2020, TEGNA published more than 700,000 pieces of digital content and delivered 24 billion impressions for advertisers. Digital consumption rose dramatically, with nearly 70 million unduplicated average monthly visitors to TEGNA digital platforms consuming 7.8 billion minutes of video. This significant growth reflects the high trust consumers place in local media compared to national outlets for news.

At NewFronts, TEGNA is announcing the expansion of its industry-leading attribution solution to measure performance of linear TV and streaming campaigns. In 2021, TEGNA Attribution will provide industry-specific performance data for the automotive and tourism industries. Advertisers in these categories will have access to advanced, industry-specific outcomes and sales data for campaigns placed with TEGNA and Premion, the industry-leading CTV/OTT and TAG-certified advertising solution for regional and local advertisers. With directly-sourced inventory from more than 125 premium publishers, cutting-edge targeting and performance insights, Premion delivers brand-safe inventory at scale across all 210 DMAs.

TEGNA Attribution is partnering with IHS Markit to leverage Polk Automotive Solutions, which offers best-in-class automotive marketing information, including 30 years of vehicle ownership history and 100 percent coverage of U.S. vehicle sales. This offering enables advertisers to reach the most qualified automotive consumers and connects advertising schedule details to verified new car sales. Launching early summer 2021, automotive advertisers that subscribe to the product will receive Polk Demand Signals advanced measurement data, including number of sales, make and model, price, and vehicle type to measure ROI for their campaigns.

TEGNA Attribution is also partnering with Arrivalist, a leader in travel and tourism intelligence, and using Arrivalist’s geo-location intelligence data to provide advanced location attribution solutions for convention and visitors bureaus (CVBs) and other vacation/tourism advertisers. Beginning today, TEGNA Attribution can now provide tourism clients with measurement metrics including arrivals to destinations, cities of origin and days and distance to arrival.

“These new attribution offerings allow automotive and tourism clients to advertise with TEGNA and Premion with greater confidence, knowing we deliver proven results and unmatched measurement insights,” said Tim Fagan, SVP and chief revenue officer, TEGNA. “In the coming months, TEGNA Attribution will add additional capabilities to our leading measurement platform, offering greater industry-specific insights to our robust outcome-based model that delivers actionable intelligence to advertisers.”

“With this integration and access to Polk Demand Signals and measurement capabilities, automotive clients advertising on TEGNA platforms can gain a more complete understanding of consumer behavior throughout the buying cycle,” said Joe Kyriakoza, vice president and general manager, Polk Automotive Solutions at IHS Markit. “Through this innovative arrangement with TEGNA, dealers will have an opportunity to tie their media dollars and optimize to KPIs that actually impact their bottom line – driving new car sales.”

“Arrivalist’s partnership with TEGNA greatly expands travel and destination marketers’ ability to measure the success of their campaigns and adds value with advanced metrics tailored to our industry,” said Cree Lawson, founder and CEO, Arrivalist. “By advertising with TEGNA, brands can leverage Arrivalist’s trusted location data for deeper insights into audience, efficiency and ROI.”

Today, TEGNA will also debut its national VERIFY brand, building on the substantial growth of VERIFY content on TEGNA’s local media properties over the past few years. Originally launched in 2015, VERIFY is dedicated to helping the public distinguish between true and false information by fact-checking claims through research and credible sources. In addition to its daily broadcast presence and newly launched website, consumers can now text VERIFY to submit a story they want verified. In 2020, traffic to VERIFY content on TEGNA station websites increased more than 400 percent, while VERIFY videos on Snapchat’s Discover platform saw more than 8 million unique visitors, reaching a new, young audience, primarily comprised of adults 18-24.

TEGNA will also announce that Locked On, the leading sports podcast network with daily shows for all “Big 4” professional sports teams and major college programs, is expanding to streaming platforms. Locked On shows are now available on select TEGNA stations’ Roku and Amazon Fire TV OTT apps and YouTube properties in their respective markets, and will be available on all stations’ streaming properties in the coming months. TEGNA is also developing an OTT app specifically for Locked On content, which will be available later in 2021.

“TEGNA’s VERIFY expansion bolsters trust in TEGNA as a go-to leader for news, while the continued growth of our OTT offerings gives advertisers greater opportunities to reach their audiences at scale on streaming content that attracts passionate, dedicated viewers,” said Adam Ostrow, chief digital officer, TEGNA. “TEGNA’s digital and OTT platforms give advertisers access to brand-safe content that is highly valued by the tens of millions of consumers we reach every month across our properties.”

TEGNA’s innovative marketing solutions include the company’s digital properties, which average nearly 70 million unduplicated visitors each month, as well as Premion. Supported by TEGNA Attribution, all of TEGNA’s client solutions are focused on measurable outcomes and actionable insights that drive results. For more information visit www.tegnamarketingsolutions.com.

About TEGNA

TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. With 64 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. TEGNA also owns leading multicast networks True Crime Network, Twist and Quest. TEGNA Marketing Solutions (TMS) offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNA’s OTT advertising service. For more information, visit www.TEGNA.com.

For media inquiries:

Anne Bentley

Vice President, Corporate Communications

703-873-6366

[email protected]

For investor inquiries:

Doug Kuckelman

Head of Investor Relations

703-873-6764

[email protected]

KEYWORDS: United States North America Virginia

INDUSTRY KEYWORDS: TV and Radio Technology Online Marketing Mobile Entertainment Advertising Entertainment Communications Social Media Software Internet

MEDIA:

Logo
Logo

Cheniere and Shell Collaborate to Deliver Carbon-Neutral US LNG to Europe

Cheniere and Shell Collaborate to Deliver Carbon-Neutral US LNG to Europe

HOUSTON–(BUSINESS WIRE)–
Cheniere Energy, Inc. (NYSE American: LNG) and Cheniere Energy Partners, L.P. (NYSE American: CQP) (together, “Cheniere”) today announced that Sabine Pass Liquefaction, LLC has supplied a carbon neutral cargo1 of liquefied natural gas (“LNG”) to Shell2 as part of the companies’ long-term LNG Sale and Purchase Agreement. Cheniere and Shell worked together to offset the full lifecycle greenhouse gas (“GHG”) emissions associated with the LNG cargo by retiring nature-based offsets to account for the estimated CO2e emissions produced through the entire value chain, from production through use by the final consumer (all scopes3).

The carbon-neutral LNG cargo was supplied from Cheniere’s Sabine Pass Liquefaction facility and delivered to Europe in early April. Offsets used were bought from Shell’s global portfolio of nature-based projects with Cheniere purchasing the portion attributable to estimated CO2e emissions associated with activities upstream of the FOB delivery point, including production and liquefaction. Nature-based projects protect, transform or restore land and enable nature to add oxygen and absorb more CO2 emissions from the atmosphere. Each carbon offset is subject to a third-party verification process and represents the avoidance or removal of 1 tonne of CO2e.

“At Cheniere, we’re focused on measuring, reducing and mitigating emissions, and this first carbon neutral cargo for Cheniere highlights our efforts to measure and mitigate emissions throughout the LNG value chain,” said Anatol Feygin, Executive Vice President and Chief Commercial Officer of Cheniere. “We are thankful for our collaboration with Shell in this effort and for our mutually beneficial commitments to improving environmental performance and maximizing the climate benefits of Cheniere’s LNG.”

Steve Hill, Executive Vice President, Shell Energy said, “We are very happy to be collaborating with Cheniere on this opportunity. It is great to see more producers offsetting their GHG emissions to meet the increasing demand for carbon-neutral LNG. Using high quality nature-based offsets to compensate for emissions that cannot be avoided or reduced is an important step as we find more ways to reduce emissions across the LNG value chain.”

Earlier this year, Cheniere announced it intends to provide its LNG customers with GHG emissions data associated with each LNG cargo produced at its liquefaction facilities through the company’s Cargo Emissions Tags (CE Tags), beginning in the first half of 2022.

1The terms “carbon neutral”, “carbon offset” or “carbon offset compensation” indicate that Shell and Cheniere have engaged in a transaction to ensure that an amount of carbon dioxide equivalent to that associated with the production, delivery and usage of the fuel has been removed from the atmosphere through a nature-based process or emissions saved through avoided deforestation.

2The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this release “Shell” is sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general.

3The CO2e emissions were calculated using the DEFRA (UK Department for Environment, Food and Rural Affairs) conversion rates to calculate LNG emissions needed to be offset for Scope 1, 2 and 3. According to the 2020 DEFRA conversion rate, 1 tonne of LNG emits approximately 3.42 tonnes of CO2e across the value chain, including end use. End use refers to combustion, which comprises about 2.54 tonnes of the total 3.42 tonnes of well-to-wheel emissions. The remaining emissions of 0.88 tonnes are across the value chain from exploration and production to transportation and regasification.

About Cheniere

Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.

For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to the amount and timing of share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.

Investors

Randy Bhatia 713-375-5479

Megan Light 713-375-5492

Media Relations

Eben Burnham-Snyder 713-375-5764

Jenna Palfrey 713-375-5491

KEYWORDS: Texas Europe United States North America

INDUSTRY KEYWORDS: Energy Environment Oil/Gas

MEDIA:

Logo
Logo

Cooper Tire Announces New Discoverer® Rugged Trek™ All-Terrain Tire

Cooper Tire Announces New Discoverer® Rugged Trek™ All-Terrain Tire

All-season tire boasts strong off-road features alongside smooth on-road manners

FINDLAY, Ohio–(BUSINESS WIRE)–
With summer road trip season fast approaching, Cooper Tire & Rubber Company has announced the U.S. launch of the new Discoverer® Rugged Trek™ tire, which is now available for consumers nationwide. An all-season pickup truck and SUV tire, the Discoverer Rugged Trek offers drivers the flexibility of reliable, every day on-road performance in addition to a powerful, rugged design for off-road adventurers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210504005132/en/

Cooper Tire has launched the new Discoverer Rugged Trek tire, an all-season pickup truck and SUV tire that offers drivers the flexibility of reliable, every day on-road performance in addition to a powerful, rugged design for off-road adventurers. (Photo: Business Wire)

Cooper Tire has launched the new Discoverer Rugged Trek tire, an all-season pickup truck and SUV tire that offers drivers the flexibility of reliable, every day on-road performance in addition to a powerful, rugged design for off-road adventurers. (Photo: Business Wire)

During the development of the Discoverer Rugged Trek, the Cooper team identified three core needs for the dual-terrain driver: hybrid performance, longevity, and appearance. The tire is Cooper’s answer to these needs by providing off-road capabilities in tandem with excellent on-road handling and wet grip, aggressive mud tire looks, and a long-lasting warranty of up to 60,000 miles.

“The Cooper team has focused on truly understanding the Discoverer Rugged Trek consumer and providing the right combination of features to make the product standout,” said Michiel Kramer, Executive Director, Product Marketing for Cooper Tire. “We wanted to combine the spirit and physicality of off-roading with a well-mannered on-road tire, and the Discoverer Rugged Trek exceeds expectations in both categories.”

Just in time for the spring and summer boom in outdoor excursions, the Discoverer Rugged Trek includes several features that benefit both the daily commute and occasional trailhead ventures or off-grid explorations.

  • Whisper Grooves™ block the rush of air through the tire, allowing the Discoverer Rugged Trek to reduce noise during highway drives.
  • Stable Trac™ Technology enhances traction for the Discoverer Rugged Trek, both on roads and rough surfaces, allowing drivers to maintain more control.
  • Earth Diggers™ forcefully dig into sandy, muddy and uneven surfaces to give the Discoverer Rugged Trek a solid foothold in unpredictable off-road environments.
  • Rough Terrain™Tread Pattern helps keep rocks and stones out of the tread and on the ground, effectively reducing the chances of tire damage or lessened traction when traveling off-road.

The Discoverer Rugged Trek’s practical features are not the tire’s only appeal, as drivers are given a choice between unique sidewall designs on each side – the refined “Knife-Edge” or the bolder “Mountain Pass” – which is a first for any Cooper tire. While they offer distinct appearances, both sidewalls include raised black lettering and both further enhance off-road capabilities with long, deep cleats.

“We felt that giving drivers a choice in the appearance of their tires was a logical next step. Each sidewall adds a different flair and makes the Discoverer Rugged Trek a more customized addition to your vehicle,” added Kramer.

Among competing tire offerings, the Discoverer Rugged Trek has the BEST tread wear warranty compared to Nitto® Ridge Grappler®, Goodyear® Wrangler DuraTrac® and Toyo® Open Country® R/T1. In addition, Discoverer Rugged Trek outperforms Nitto® Ridge Grappler®, Goodyear® Wrangler DuraTrac® and Toyo® Open Country® R/T in stopping more quickly and with better grip on wet roads and turns2.

Discoverer Rugged Trek tires can now be purchased from select dealers nationwide.

About Cooper Tire & Rubber Company

Cooper Tire & Rubber Company (NYSE: CTB) is the parent company of a global family of companies that specializes in the design, manufacture, marketing and sale of passenger car, light truck, medium truck, motorcycle and racing tires. Cooper’s headquarters is in Findlay, Ohio, with manufacturing, sales, distribution, technical and design operations within its family of companies located in more than one dozen countries around the world. For more information on Cooper, visit www.coopertire.com, www.facebook.com/coopertire or www.twitter.com/coopertire.


1 Based on published tread wear warranties (As of Feb. 2021).

2 Based on internal testing of listed tires over multiple wet stops and wet laps with LT275/65R18 E and 275/55R20XL tires (Jan./Feb. 2020). Individual on-road results may vary.

Megan James

419.424.4251

[email protected]

KEYWORDS: United States North America Ohio

INDUSTRY KEYWORDS: Off-Road Trucks & SUVs Tires & Rubber Automotive

MEDIA:

Photo
Photo
Cooper Tire has launched the new Discoverer Rugged Trek tire, an all-season pickup truck and SUV tire that offers drivers the flexibility of reliable, every day on-road performance in addition to a powerful, rugged design for off-road adventurers. (Photo: Business Wire)

Grays Adapts to Future of Commerce with Citrix®

Grays Adapts to Future of Commerce with Citrix®

Largest eCommerce business in Australasia shifts platform to the cloud, implements Citrix SD-WAN™ gaining agility needed to support evolving business and customer needs

FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–
Online commerce has been picking up speed for years. But COVID-19 has thrown it into overdrive. On any given day, consumers across Australasia flock to Grays to purchase everything from electronics, jewelry and wine to cars, property and even businesses. When the pandemic hit, the largest eCommerce business in Australasia, saw its traffic double. And the company was more than ready to handle it thanks to a successful move to modernize its network and shift to the cloud that it had executed months earlier with the help of Citrix Systems, Inc. (NASDAQ:CTXS).

Today, Grays operates warehouses and offices across 17 locations. But the company is rapidly expanding to accommodate the uptake it has seen in its business as consumers increasingly turn to clicks rather than bricks to secure just about everything they want and need.

“To deliver the simple, secure and reliable experience that buyers and sellers expect, we must be able to bring new sites onboard fast and ensure they stay connected at all times,” said Ayaz Ahmed, Head of Technology, Grays.com.

For years, Grays relied on Multiprotocol Label Switching (MPLS) technology to do this. But the technology made it difficult for the IT department to move quickly – spinning up a new site could take up to six months. So, the company went in search of more agile technology that would allow it to pick up the pace.

Gaining Agility

Enter Citrix SD-WAN. Positioned first for Application Performance Optimization and Deployment Flexibility in the 2020 Gartner Critical Capabilities for WAN Edge Infrastructure (Gartner Critical Capabilities for WAN Edge Infrastructure, Jonathan Forest, Andrew Lerner, Naresh Singh, September 30, 2020), the solution enables organizations to extend connectivity to remote sites faster and easier than ever. Using it in conjunction with AWS Transit Gateway, Grays is able to ensure seamless connectivity across all its branches.

And critical in Ahmed’s mind is the flexibility and resiliency that it provides. “We have the ability to scale up and down, which helps us move much more quickly – we can now spin up a site in a day,” he said.

Accelerating Business Performance

In addition, Grays can support new services that its customers require in the COVID-19 era. In the face of lock downs and social distancing protocols, many buyers, for instance, have been unable to make in-person inspections of auction items on which they had bids. With Citrix SD-WAN, Grays is able to power video linkups on mobile devices like iPads which its employees can use to show customers their merchandise including cars, auto parts, restaurant equipment, and more.

“Without Citrix SD-WAN, I’d probably be under a lot more pressure to resolve customer buying issues,” Ahmed said. “It has definitely set us up for success.”

Grays joins more than 400,000 organizations around the world who are using Citrix solutions to future-proof their infrastructure and gain the flexibility and agility they need to enhance their business performance and gain market advantage. Click here to learn more about these solutions and the success they are driving.

About Grays

Grays is the largest industrial, auto and commercial eCommerce business in Australasia, offering a huge range of industrial, auto, consumer and commercial goods, direct from manufacturers and distributors. We offer our buyers great value and convenience and our vendors an efficient sales channel to unlock value from their assets. Click here to learn more.

About Citrix

Citrix (NASDAQ: CTXS) builds the secure, unified digital workspace technology that helps organizations unlock human potential and deliver a consistent workspace experience wherever work needs to get done. With Citrix, users get a seamless work experience and IT has a unified platform to secure, manage, and monitor diverse technologies in complex cloud environments.

For Citrix Investors:

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the impact of the global economy and uncertainty in the IT spending environment, revenue growth and recognition of revenue, products and services, their development and distribution, product demand and pipeline, economic and competitive factors, the Company’s key strategic relationships, acquisition and related integration risks as well as other risks detailed in the Company’s filings with the Securities and Exchange Commission. Citrix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. The development, release and timing of any features or functionality described for our products remains at our sole discretion and is subject to change without notice or consultation. The information provided is for informational purposes only and is not a commitment, promise or legal obligation to deliver any material, code or functionality and should not be relied upon in making purchasing decisions or incorporated into any contract.

© 2021 Citrix Systems, Inc. Citrix, the Citrix logo, and other marks appearing herein are the property of Citrix Systems, Inc. and may be registered with the U.S. Patent and Trademark Office and in other countries. All other marks are the property of their respective owners.

Media Contact:

Karen Master

Citrix

+1 216-396-4683

[email protected]

KEYWORDS: Florida United States North America

INDUSTRY KEYWORDS: Software Networks Internet Hardware Data Management Technology Online Retail Retail

MEDIA:

Logo
Logo