Author: Admin

Developer

Release – Flotek Announces Participation in Noble Capital Markets Virtual Road Show Series

Posted on by Admin


Flotek Announces Participation in Noble Capital Markets Virtual Road Show Series

 

HOUSTON, Nov. 29, 2021 /PRNewswire/ — Flotek Industries, Inc. (NYSE: FTK) today announced their participation in Noble Capital Markets’ Virtual Road Show Series, presented by Channelchek, scheduled for December 1, 2021.

Join Flotek Industries CEO John W. Gibson, Jr for this exclusive fireside chat moderated by Noble Senior Research Analyst Michael Heim, featuring questions submitted by the audience.

The live broadcast of the virtual road show is scheduled for December 1, 2021, at 1 PM EDT. Registration is free and open to all investors, at any level. Register Here.

Noble’s research, as well as news and advanced market data on Flotek Industries is available on Channelchek.

About Flotek Industries, Inc.
Flotek Industries, Inc. creates solutions to reduce the environmental impact of energy on air, water, land and people. A technology-driven, specialty green chemistry and data company, Flotek helps customers across industrial, commercial, and consumer markets improve their Environmental, Social, and Governance performance. Flotek’s Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use. Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its green chemistry technologies and JP3’s real-time data platforms. Flotek serves downstream, midstream, and upstream customers, both domestic and international. Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit www.flotekind.com.

About Noble Capital Markets
Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small / microcap companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 36 years, Noble has raised billions of dollars for these companies and published more than 45,000 equity research reports. www.noblecapitalmarkets.com email: contact@noblecapitalmarkets.com

About Channelchek
Channelchek (.com) is a comprehensive investor-centric portal – featuring more than 6,000 emerging growth companies – that provides advanced market data, independent research, balanced news, video webcasts, exclusive c-suite interviews, and access to virtual road shows. The site is available to the public at every level without cost or obligation. Research on Channelchek is provided by Noble Capital Markets, Inc., an SEC / FINRA registered broker-dealer since 1984. www.channelchek.com email: contact@channelchek.com

SOURCE Flotek Industries, Inc.

Release – Harte Hanks to Uplist to the Nasdaq Global Market

Posted on by Admin


Harte Hanks to Uplist to the Nasdaq Global Market

Trading under the ticker “HHS” expected to begin on December 1, 2021

Research, News, and Market Data on Harte Hanks


AUSTIN, Texas, Nov. 30, 2021 /PRNewswire/ — Harte Hanks, Inc. (OTCQX: HRTH) (the “Company”), a leading global customer experience company, today announced that the Company has met the stringent financial, liquidity and corporate governance listing requirements of the Nasdaq Global Market® (“Nasdaq”), and the Company has been approved for listing on the Nasdaq.

Trading on Nasdaq is expected to commence at the market open on December 1, 2021, and the shares will trade under the ticker symbol “HHS”.  The Company’s shares will continue to trade on the OTCQX under the symbol “HRTH” until trading on the Nasdaq commences.  Shareholders are not required to take any action as a result of the uplisting and symbol change.

“Uplisting to the Nasdaq marks another major milestone for Harte Hanks,” said Harte Hanks’ Chairman of the Board of Directors Jack Griffin. “With the expanded audience of investors, increased access to liquidity, and the significant improvement in our financial performance, we are well positioned for future profitable growth. Harte Hanks traded under the ticker ‘HHS’ for nearly 50 years, from its IPO in 1972 through 2020, and returning to a national exchange and this longstanding ticker symbol is an important indication of the progress we have made.”

Chief Executive Officer Brian Linscott added, “Uplisting to the Nasdaq reflects the considerable progress that Harte Hanks has made and will serve as a great opportunity to expand the Company’s institutional shareholder base and to enhance the Company’s efforts to create long-term shareholder value.”

About Harte Hanks

Harte Hanks (OTCMKTS: HRTH) is a leading global customer experience company whose mission is to partner with clients to provide them with CX strategy, data-driven analytics and actionable insights combined with seamless program execution to better understand, attract, and engage their customers.

Using its unparalleled resources and award-winning talent in the areas of Customer Care, Fulfillment and Logistics, and Marketing Services, Harte Hanks has a proven track record of driving results for some of the world’s premier brands including Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, Ford, FedEx, Midea, Sony and IBM among others. Headquartered in Austin, Texas, Harte Hanks has over 2,500 employees in offices across the Americas, Europe, and Asia Pacific.

For more information, visit hartehanks.com.

As used herein, “Harte Hanks” or “the Company” refers to Harte Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Harte Hanks’ logo and name are trademarks of Harte Hanks.

Cautionary Note Regarding
Forward-Looking Statements

Our press release contains “forward-looking statements” within the meaning of U.S. federal securities laws. All such statements are qualified by this cautionary note, provided pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements other than historical facts are forward-looking and may be identified by words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “seeks,” “could,” “intends,” or words of similar meaning. These forward-looking statements are based on current information, expectations and estimates and involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from what is expressed in or indicated by the forward-looking statements. In that event, our business, financial condition, results of operations or liquidity could be materially adversely affected and investors in our securities could lose part or all their investments. These risks, uncertainties, assumptions and other factors include: (a) local, national and international economic and business conditions, including (i) the outbreak of diseases, such as the COVID-19 coronavirus and new variants thereof, which has curtailed travel to and from certain countries and geographic regions, created supply chain disruption and shortages, disrupted business operations and reduced consumer spending, (ii) market conditions that may adversely impact marketing expenditures and (iii) the impact of economic environments and competitive pressures on the financial condition, marketing expenditures and activities of our clients and prospects; (b) the demand for our products and services by clients and prospective clients, including (i) the willingness of existing clients to maintain or increase their spending on products and services that are or remain profitable for us, and (ii) our ability to predict changes in client needs and preferences; (c) economic and other business factors that impact the industry verticals we serve, including competition and consolidation of current and prospective clients, vendors and partners in these verticals; (d) our ability to manage and timely adjust our facilities, capacity, workforce and cost structure to effectively serve our clients; (e) our ability to improve our processes and to provide new products and services in a timely and cost-effective manner though development, license, partnership or acquisition; (f) our ability to protect our facilities against security breaches and other interruptions and to protect sensitive personal information of our clients and their customers; (g) our ability to respond to increasing concern, regulation and legal action over consumer privacy issues, including changing requirements for collection, processing and use of information; (h) the impact of privacy and other regulations, including restrictions on unsolicited marketing communications and other consumer protection laws; (i) fluctuations in fuel prices, paper prices, postal rates and postal delivery schedules; (j) the number of shares, if any, that we may repurchase in connection with our repurchase program; (k) unanticipated developments regarding litigation or other contingent liabilities; (l) our ability to complete anticipated divestitures and reorganizations, including cost-saving initiatives; (m) our ability to realize the expected tax refunds; (n) the realization of any benefits that may be derived from listing the Company’s common stock on Nasdaq and (o) other factors discussed from time to time in our filings with the Securities and Exchange Commission, including under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 which was filed on March 24, 2021. The forward-looking statements in this press release are made only as of the date hereof, and we undertake no obligation to update publicly any forward-looking statement, even if new information becomes available or other events occur in the future.

Investor Relations Contact:
Rob Fink
FNK IR
HRTH@fnkir.com
646-809-4048

SOURCE Harte Hanks, Inc.

Omicron Variant Highlights Long-Term Vaccination Needs

Posted on by Admin

Tuesday, November 30, 2021

Biotechnology
Omicron Variant Highlights Long-Term Vaccination Needs

Robert LeBoyer, Vice President, Research Analyst, Life Sciences, Noble Capital Markets, Inc.

Refer to end of report for Analyst Certification & Disclosures

Refer to the company pages linked in the report below for research reports and company specific disclosures.

Omicron Variant Causes New Concerns. On November 26, the World Health Organization met to discuss a new variant of the virus that causes COVID-19. The variant, now known as Omicron (previously B1.1.359 or the South African variant), has led to travel restrictions and stricter border controls in several counties. Omicron contains over 30 mutational changes in the spike protein targeted by current vaccines, raising concerns over vaccine efficacy. The emergence of new variants is consistent with our expectations for COVID-19 and our view that new vaccines will be needed.

We Believe New Vaccines Will Be Necessary We have expected the current vaccines to bring the pandemic under control, but have questioned the breadth of long-term protection they would provide. Viruses often have genetic variations that cause new strains to emerge over time. We have compared this to the influenza virus, for which a new vaccine is required every year.

COVAXIN Could Be An Strong Option As COVID-19 Vaccination Becomes Routine Ocugen (OCGN) has Phase 3 data for approval of COVAXIN, a vaccine developed with classic killed-virus technology. COVAXIN gives a broad antibody response against multiple epitopes (regions) of the virus, and has data showing protection including variants. Covaxin has a long half-life at refrigerated temperatures and does not need to be frozen. We believe these are some of the technological and practical considerations that could make it a strong option.

Cocrystal Is Developing Two Protease Inhibitors Against The Virus Cocrystal (COCP) is using its proprietary RNA technology to develop a protease inhibitor that could block an enzyme needed for the virus to reproduce. This is an early step in the viral life cycle that would eliminate the virus before it could cause symptoms or be transmitted to others. A formulation for inhaled delivery is expected to begin clinical trials in 2022, followed by an oral formulation later in 2022.

Conclusion: Viruses typically mutate over time and new strains are to be expected. Omicron is the latest of several strains that have been emerging in various regions around the world. We believe vaccination against COVID-19 will become routine practice and require new products. We are reiterating our Outperform ratings on OCGN and COCP, two companies developing vaccines for the coming year and long term use.

COVID-19 Variant Causes New Fears On November 26, the World Health Organization officials met to discuss a new variant of SARS-CoV-2, the virus that causes COVID-19. Concern over this variant, now known as the Omicron variant (previously B.1.1.359 or the South African variant) has led to travel restrictions and stricter border controls in several counties.  

The Omicron strain contains over 30 mutational changes in the spike protein that the current vaccines were developed to recognize. This has led to concern that the variant may not recognized by the immune system in vaccinated people, and may cause break-though symptoms and lack of  protection. Omicron contains variations that are found in the Alpha and Delta variants, indicating that it may have been a more recent mutation.

We Have Always Expected New Vaccines To Be Needed  The current messenger RNA vaccines were first approved under Emergency Use  Authorizations. While we always believed they provided sufficient efficacy to end pandemic lockdown and control the pandemic, the durability of the response and efficacy against variants and future outbreaks was unknown.

The current vaccines were developed against a protein on the viral surface, known as the spike protein. Most viral spike proteins are subject to genetic variation and change over time. This is known as “genetic drift” and is one of the reasons that new influenza vaccines are needed every year. Large variations are known as “genetic shift” and have less cross-reactivity and less recognition by the immune system. Variants that result from genetic shift cause more severe symptoms and mortality.

Virologist have long predicted that the pandemic would be controlled, but the virus would remain in circulation throughout the world.   New variants could emerge over time, with  resistant strains that could avoid the immunity from vaccines. We continue to believe new vaccines  are needed for long-term protection, with routine vaccinations/boosters becoming part of standard medical practice.

COVAXIN Would Fit Well With The Shift To Routine Vaccination Programs  Ocugen has in-licensed COVAXIN, a vaccine against the SARS-CoV-2 virus made using using classic killed-virus methodology. This is an older technology that has been used to produce many anti-viral vaccines over the past decades. Covaxin produces a immune response against multiple regions of the entire virus, in contrast to the more specific spike protein in the current vaccines. The COVAXIN immune response includes recognition of regions that are highly conserved and not subject to genetic variation over time. The Phase 3 trial was conducted in India at a time when the Delta virus was circulating, and has shown efficacy against it and other variants.

In addition to its efficacy and differentiated immune response, COVAXIN only requires refrigerated storage. It has a long shelf life that makes it suitable for distribution to doctor’s offices and clinical settings that do not have capacity for vaccines that must be kept frozen. This fits with current medical practice and is less expensive to distribute than a frozen product.

Ocugen has been in discussions with the FDA for US approval and submitted an application for approval in Canada. Marketing approval will require a bridging study to show that the immune response in patients vaccinated in US today is the same as the response seen in the Phase 3 trial population. No endpoints to confirm efficacy or safety are needed.

An IND was submitted to begin the bridging study in October. An IND typically becomes effective in 30 days, however, Ocugen received notification of a “Clinical Hold” in November. This will delay the start of the trial. No reasons were given, and the company is awaiting comments from the FDA. We had allowed long timeframes for approval, so this delay to the start of the trial does not affect our valuation.

Cocrystal Is Developing Two Protease Inhibitors Against the Virus  Cocrystal is using its proprietary RNA technology to develop two protease inhibitors that could block an enzyme needed for the virus to reproduce inside an infected cell. These drugs act on an early step in the viral life cycle. This would eliminate or reduce the quantity of virus in the patient, preventing symptoms and transmission to the surrounding environment. Drugs based on protease inhibition have been successful in HIV, hepatitis, and other viral diseases. 

The first product, CDI-45205, is a protease inhibitor that uses intranasal/pulmonary delivery that is expected to begin Phase 1/2 studies in 2022. An orally administered version is expected to begin later in 2022.

Cocrystal Will Present Data At The WAC COVID-19 Conference.   Cocrystal’s President and Co-CEO, Dr. Sam Lee, has been invited to present data from the COVID-19 program at the World Antiviral Conference. This scientific meeting will feature the foremost experts in research, clinical practice, government regulation and policy. The conference will held in San Diego on November 30 to December 2, with Dr. Lee’s presentation scheduled for December 1 at 11:55 PST.    

Conclusion:  The emergence of new strains of SARS-CoV-2 is consistent with expectations from virologists and characteristic of viruses in the SARS family.   The full genetic sequence of the Omicron variant is expected to take several weeks to determine.  Further information about the variant’s transmission, resilience to the immune system, and severity of infection may become available at that time.  We believe this new variant is consistent with the need for new vaccines for COVID-19, and reiterate our Outperform ratings on OCGN and COCP.

GENERAL DISCLAIMERS

All statements or opinions contained herein that include the words “we”, “us”, or “our” are solely the responsibility of Noble Capital Markets, Inc.(“Noble”) and do not necessarily reflect statements or opinions expressed by any person or party affiliated with the company mentioned in this report. Any opinions expressed herein are subject to change without notice. All information provided herein is based on public and non-public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed. No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio. The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on its own appraisal of the implications and risks of such decision.

This publication is intended for information purposes only and shall not constitute an offer to buy/sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile. This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice. Past performance is not indicative of future results.

Noble accepts no liability for loss arising from the use of the material in this report, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to Noble. This report is not to be relied upon as a substitute for the exercising of independent judgement. Noble may have published, and may in the future publish, other research reports that are inconsistent with, and reach different conclusions from, the information provided in this report. Noble is under no obligation to bring to the attention of any recipient of this report, any past or future reports. Investors should only consider this report as single factor in making an investment decision.

IMPORTANT DISCLOSURES

This publication is confidential for the information of the addressee only and may not be reproduced in whole or in part, copies circulated, or discussed to another party, without the written consent of Noble Capital Markets, Inc. (“Noble”). Noble seeks to update its research as appropriate, but may be unable to do so based upon various regulatory constraints. Research reports are not published at regular intervals; publication times and dates are based upon the analyst’s judgement. Noble professionals including traders, salespeople and investment bankers may provide written or oral market commentary, or discuss trading strategies to Noble clients and the Noble proprietary trading desk that reflect opinions that are contrary to the opinions expressed in this research report.

The majority of companies that Noble follows are emerging growth companies. Securities in these companies involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in Noble research reports may not be suitable for some investors and as such, investors must take extra care and make their own determination of the appropriateness of an investment based upon risk tolerance, investment objectives and financial status.

Company Specific Disclosures

The following disclosures relate to relationships between Noble and the company (the “Company”) covered by the Noble Research Division and referred to in this research report.

Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months.

Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and noninvestment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months.

Ocugen (OCGN)

The Company in this report is a participant in the Company Sponsored Research Program (“CSRP”); Noble receives compensation from the Company for such participation. No part of the CSRP compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed by the analyst in this research report.

The Company has attended Noble investor conference(s) in the last 12 months.

Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) within the next 3 months.

Cocrystal Pharma (OCGN)

The Company in this report is a participant in the Company Sponsored Research Program (“CSRP”); Noble receives compensation from the Company for such participation. No part of the CSRP compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed by the analyst in this research report.

The Company has attended Noble investor conference(s) in the last 12 months.

Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) within the next 3 months.

ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Senior Equity Research Analyst focusing on the Biotechnology and Specialty Pharmaceuticals industry. 16 years of industry experience. BA in Economics from Tulane University and an MBA from Columbia Business School. FINRA licenses 7, 24, 63, 86, 87

WARNING

This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs. Prior to making any investment decision, recipients should assess, or seek advice from their advisors, on whether any relevant part of this report is appropriate to their individual circumstances. If a recipient was referred to Noble Capital Markets, Inc. by an investment advisor, that advisor may receive a benefit in respect of transactions effected on the recipients behalf, details of which will be available on request in regard to a transaction that involves a personalized securities recommendation. Additional risks associated with the security mentioned in this report that might impede achievement of the target can be found in its initial report issued by Noble Capital Markets, Inc.. This report may not be reproduced, distributed or published for any purpose unless authorized by Noble Capital Markets, Inc.

RESEARCH ANALYST CERTIFICATION

Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public appearance and/or research report.

Ownership and Material Conflicts of Interest
I or someone in my household has a financial interest in the securities of the subject company or other companies mentioned in this report. This interest has been documented and made known to the Research Supervisor and Compliance.

NOBLE RATINGS DEFINITIONS % OF SECURITIES COVERED % IB CLIENTS
Outperform: potential return is >15% above the current price 94% 33%
Market Perform: potential return is -15% to 15% of the current price 6% 2%
Underperform: potential return is >15% below the current price 0% 0%

NOTE: On August 20, 2018, Noble Capital Markets, Inc. changed the terminology of its ratings (as shown above) from “Buy” to “Outperform”, from “Hold” to “Market Perform” and from “Sell” to “Underperform.” The percentage relationships, as compared to current price (definitions), have remained the same.

Additional information is available upon request. Any recipient of this report that wishes further information regarding the subject company or the disclosure information mentioned herein, should contact Noble Capital Markets, Inc. by mail or phone.

Noble Capital Markets, Inc.
150 East Palmetto Park Rd., Suite 110
Boca Raton, FL 33432
561-994-1191

Noble Life Science Partners is a division of Noble Capital Markets, Inc.
Noble Capital Markets, Inc. is a FINRA (Financial Industry Regulatory Authority) registered broker/dealer.
Noble Capital Markets, Inc. is an MSRB (Municipal Securities Rulemaking Board) registered broker/dealer.
Member – SIPC (Securities Investor Protection Corporation)

Report ID: 24294

Release – Orion Group Holdings Inc. Announces Contract Awards of Approximately $28 Million

Posted on by Admin

 


Orion Group Holdings, Inc. Announces Contract Awards of Approximately $28 Million

 

HOUSTON–(BUSINESS WIRE)–Nov. 30, 2021– 
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced four contract awards for its Concrete segment totaling approximately 
$28 million.

The Company was recently awarded three contracts in the 
Dallas area, including a 
$3.8 million contract for a data center expansion, a 
$4.3 million contract for the construction of two cast-in-place retirement residential buildings, and a 
$5.6 million contract for a cold storage facility. All three projects are expected to commence in the first quarter of 2022 and be complete in the fourth quarter of 2022.

The Company also has been awarded a contract valued at 
$5.1 million to construct tilt-wall warehouses in its 
Houston market and a contract valued at 
$9.2 million to build a mixed-use office-retail-residential building. Work on both projects is expected to begin during the first quarter of 2022 and be completed by the first quarter of 2023.

“These awards continue to demonstrate our position as a leader for concrete construction projects in our key 
Texas markets,” said  Mark Stauffer, Orion’s President and Chief Executive Officer.

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental 
United States, 
Alaska, 
Canada and the 
Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in 
Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as ‘believes’, ‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘seeks’, ‘approximately’, ‘intends’, ‘plans’, ‘estimates’, or ‘anticipates’, or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company’s fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company’s plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on 
March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
fokoniewski@orn.net
www.oriongroupholdingsinc.com

Source: 
Orion Group Holdings, Inc.

Release – Comtech Telecommunications Corp. Awarded $3.5 Million for Cyber Training

Posted on by Admin


Comtech Telecommunications Corp. Awarded $3.5 Million for Cyber Training

 

MELVILLE, N.Y.–(BUSINESS WIRE)–Nov. 30, 2021– 
November 30, 2021 — 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today, that during its first quarter of fiscal 2022, it was awarded 
$3.5 million for delivery orders under the five-year Indefinite Delivery Indefinite Quantity (“IDIQ”) contract renewal from the Federal Government for the Joint Cyber Analysis Course (“JCAC”) Training solutions. The IDIQ contract, which is valued at 
$125 million, has been funded 
$4.9 million to date.

“Comtech continues to provide cutting-edge cybersecurity training to the 
Department of Defense (“DoD”) warfighters,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp. “This award further validates our commitment to the 
U.S. government’s cybersecurity mission.”

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.

Euroseas (ESEA) – Another Time Charter Enhances Forward Cover

Posted on by Admin

Tuesday, November 30, 2021

Euroseas (ESEA)
Another Time Charter Enhances Forward Cover

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers. As of March 31, 2017, it had a fleet of seven containerships; and six drybulk carriers, including three Panamax drybulk carriers, one Handymax drybulk carrier, one Kamsarmax drybulk carrier, and one Ultramax drybulk carrier. The company was founded in 2005 and is based in Maroussi, Greece.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Another short charter on the Oakland signed before a four year charter starts. Yesterday, two time charters on the Oakland 4,253 TEU intermediate were announced. The first one runs 60-90 days at a TCE rate of $130.0k/day and the second one runs for at least four years (with a three month redelivery window) at a TCE rate of $42.0k/day into 1Q2026. While down from recent highs, the time charters are positive for cash flow visibility.

    No change to our 2021 EBITDA estimate of $53.9 million based on TCE rates of $18.6k/day.  As discussed in recent notes, forward cover is full and the Corfu is repositioning toward China on a short charter prior to dry docking …



This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Kratos Receives Initial Approximate $4 Million in Single Award Funding on New C5ISR Program Award

Posted on by Admin


Kratos Receives Initial Approximate $4 Million in Single Award Funding on New C5ISR Program Award with Total Potential $75 Million Program Value

 

SAN DIEGO, 
Nov. 30, 2021 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has received the initial, approximate 
$4 million in funding on a new, single award, Command, Control, Communication, Computing, Combat System, Intelligence, Surveillance & Reconnaissance (C5ISR) program, with a total potential program value of approximately 
$75 million, including production. Kratos C5ISR Business is an industry leader in products, systems and solutions supporting unmanned aerial vehicle, space & satellite communications, missile, radar, missile defense, high power directed energy, CBRNE and other C5ISR platforms and systems for national security programs of 
the United States and its allies. Work under this new program award will be performed at secure Kratos production and manufacturing facilities. Due to customer, competitive, security related and other considerations, no additional information will be provided related to this program.

Tom Mills, President of Kratos C5ISR Division, said, “The recapitalization of strategic weapon systems to address peer threats to 
the United States and its allies is driving strong demand for Kratos products and systems, including as related to unmanned aerial systems, satellite communications and missile and radar systems.  We are honored to have received this award from this critical national security related customer.”

Eric DeMarco, President and CEO of Kratos, said, “Kratos is making the internally funded investments required to address our national security customers’ most important and time sensitive requirements, with rapid development and fielding of systems that are technologically advanced and relevant to today’s environment.  We believe that this new, sole source award is representative of Kratos’ – listen to the customer, make the investment and provide the solution – organic growth approach.” 

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended 
December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the 
SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Release -Orion Group Holdings Inc. Announces Contract Awards of $16 Million

Posted on by Admin

 


Orion Group Holdings, Inc. Announces Contract Awards of $16 Million

 

HOUSTON–(BUSINESS WIRE)–Nov. 30, 2021– 
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced three contract awards for its Marine segment totaling approximately 
$16 million.

In 
Texas, the Company has been awarded a contract valued at 
$7.1 million by the 
U.S. Army Corps of Engineers for dredging in the Freeport Harbor Channel. Work is expected to begin in the first quarter of 2022 and to be completed in the second quarter of 2022. The Company has also been awarded a contract valued at 
$4.1 million by a local port for a pipeline removal project related to future expansion. Work on this project is expected to commence late in the fourth quarter of 2021 and be completed during the second quarter of 2022.

In 
Florida, the Company has been awarded a contract by a private sector client for the installation of a bulkhead wall for shore protection. This project is valued at 
$5.2 million and will commence in the first quarter of 2022 with the work completed in the second quarter of 2022.

“We’re pleased to announce these project awards, particularly the one in the private sector space,” said  Mark Stauffer, Orion’s President and Chief Executive Officer. “We continue to be disciplined in our bidding approach as we add work to our 2022 backlog.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental 
United States, 
Alaska, 
Canada and the 
Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in 
Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as ‘believes’, ‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘seeks’, ‘approximately’, ‘intends’, ‘plans’, ‘estimates’, or ‘anticipates’, or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company’s fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company’s plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on 
March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
fokoniewski@orn.net
www.oriongroupholdingsinc.com

Source: 
Orion Group Holdings, Inc.

QuickChek – November 30, 2021

Posted on by Admin



Harte Hanks to Uplist to the Nasdaq Global Market

Harte Hanks, Inc. today announced that the Company has met the stringent financial, liquidity and corporate governance listing requirements of the Nasdaq Global Market® (“Nasdaq”), and the Company has been approved for listing on the Nasdaq.

Research, News & Market Data on Harte Hanks


Esports Entertainment Group’s ggCircuit Launches New Product: OMEGA

Esports Entertainment Group, Inc. and their ggCircuit brand today announced OMEGA, a new revolutionary product offering for B2B customers.

Research, News & Market Data on Esports Entertainment Group


Flotek Announces Participation in Noble Capital Markets Virtual Road Show Series

Flotek Industries announced their participation in Noble Capital Markets’ Virtual Road Show Series, presented by Channelchek, scheduled for December 1, 2021

Research, News & Market Data on Flotek
Register for the event



Lineage Reports Fourth Case of Retinal Tissue Restoration With OpRegen®

Lineage Cell Therapeutics announced that restoration of retinal tissue was observed in a fourth patient enrolled in the Company’s Phase 1/2a clinical study of its lead product candidate, OpRegen

Research, News & Market Data on Lineage Cell Therapeutics

Watch recent presentation from Lineage Cell Therapeutics



Comtech Telecommunications Corp. Awarded $3.5 Million for Cyber Training

Comtech announced that during its first quarter of fiscal 2022, it was awarded $3.5 million for cyber training

Comtech announced that during its first quarter of fiscal 2022, it was awarded a 5G Contract with a Canadian Tier-One Carrier

Research, News & Market Data on Comtech

Watch recent presentation from Comtech



Kratos Receives Initial Approximate $4 Million in Single Award Funding on New C5ISR Program Award with Total Potential $75 Million Program Value

Kratos Defense & Security Solutions announced that it has received the initial, approximate $4 million in funding on a new, single award, Command, Control, Communication, Computing, Combat System, Intelligence, Surveillance & Reconnaissance (C5ISR) program

Research, News & Market Data on Kratos



Orion Group Holdings, Inc. Announces Contract Awards

Orion announced four contract awards for its Concrete segment totaling approximately $28 million

Orion announced three contract awards for its Marine segment totaling approximately $16 million

Research, News & Market Data on Orion Group Holdings

Watch recent presentation from Orion Group Holdings



Voyager Digital Announces Participation in December Investor Events

Voyager Digital announced the Company’s participation in investor events in December 2021

Research, News & Market Data on Voyager

Watch recent presentation from Voyager

 

Stay up to date. Follow us:

 

There is More than Just a Covid Variant Weighing on Investors

Posted on by Admin 


	Image Credit: Federal Reserve (Flickr)

What’s Going on With the Weakening of the Markets?

 

The Consumer Confidence report, ramped-up tapering, the Covid-19 Omicron variant, and debt ceiling issues have all combined to send the stock market and metals markets sharply lower. Investors and traders across many markets seem to be stepping back to assess what all the cross-currents could mean.


Consumer Confidence

U.S. consumers are feeling less confident about their situations than they have since the beginning of the year. The Consumer Conference Board released their November report showing that Consumer Confidence fell 2.1 points to 109.5. Primary drivers for the decrease were concerns about employment and income, rising prices, and to a lesser degree, persistent Covid-19.  


Yellen and Powell Testify

Fed Chair Powell and U.S. Treasury Secretary Yellen testified before the Senate today (November 30). They outlined their thoughts and responded to questions. In their testimony and in response to questions, Janet Yellen spoke of the need to raise the debt ceiling. She implored the Senate to raise the amount of debt permitted by the U.S. government. Yellen explained that failure to deal with the debt limit would “eviscerate” the economic recovery. The U.S. is expected to run out of money to pay its bills by mid-December without Congresses permission to borrow above the current ceiling.

The three major stock market indexes were in the red as the head of the U.S. Treasury and Chairman of the Federal Reserve began to testify. The markets then traded off sharply as the Fed made clear its intent to end the pandemic-era stimulus and indicated the possible need to speed up the process. “At this point, the economy is very strong and inflationary pressures are high, it is therefore appropriate in my view to consider wrapping up the taper of our asset purchases … perhaps a few months sooner,” said Fed Chair Jerome Powell.

Secretary Yellen addressed stablecoins, saying, “I believe that stablecoins can lead to some efficiency in the payments system…,” she later included, “but only if they’re adequately regulated.” The major cryptocurrencies began the day up two or three percent and later traded negative as the testimony shed more light on the Treasury’s intentions. Yellen agreed with Powell that the current economic recovery is strong. But she did have a stern warning for lawmakers. She warned that Congress must take action to address the debt limit by Dec. 15 or the country will not be able to pay its bills. A default on its debts would be the United States’ first in its history and could have a devastating effect on the global economy. “I cannot overstate how critical it is that Congress address this issue,” Yellen said. Putting it more bluntly, Yellen implored, “America must pay its bills on time and in full. If we do not, we will eviscerate our current recovery.”

Omicron was the wild card discussed before the Senate. She said the newly discovered variant could threaten the country’s economic recovery. Also on her list of possible threats were supply shortages and inflation risks.

 

Markets Reaction

With the news of the decline in Consumer Confidence, the unknowns surrounding Omicron, a faster tapering schedule, and even confirmation of more regulation coming for digital currency, the markets sold off. By 3 pm all the major stock indexes were down 1.6% or more, the gold price fell $7.70 or 0.43% an ounce level, Bitcoin dropped $515 or 0.89%, and crude, which has been moving on covid fears was down 4.86%.  Interestingly, despite the Fed’s declining bond purchase amounts, U.S. Treasuries rallied on the news that the Fed would be fighting inflation. The 10 Year U.S. Treasury Note rallied on the news, with its yield dropping to 1.44%.

 

Take-Away

The Fed is not likely to use the word “transitory” when discussing current inflation. Powell made it clear he intends to attack it while the economic recovery is strong. Yellen for her part wants to make sure the U.S. dollar doesn’t lose its standing in the world, which she says would happen if the debt ceiling is not raised soon. Consumers were also heard today, and they are not as confident as they have been since last Winter.

The latest variant of Covid-19 is making news and is just now being understood. Much will depend on the global reaction to this new threat.

Paul Hoffman

Managing Editor, Channelchek


Suggested Reading:



Dip Buying in 2021 Has Consistently Paid-Off, is it Different this Time?

Why Less Gradual Tapering from the Fed is Likely





What the Infrastructure Law Does for Investors

How Much is a Trillion?

 

Sources:

https://www.conference-board.org/data/consumerconfidence.cfm

https://www.prnewswire.com/news-releases/consumer-confidence-declined-in-november-301434044.html

https://www.youtube.com/watch?v=JJxqiyKIEW8

 

Stay up to date. Follow us:

 

Great Bear Resources (GTBAF)(GBR:CA) – Discovery of New Gold Zone Underscores Dixies Growing Resource Potential

Posted on by Admin

Monday, November 29, 2021

Great Bear Resources (GTBAF)(GBR:CA)
Discovery of New Gold Zone Underscores Dixie’s Growing Resource Potential

Noble Capital Markets research on Great Bear Resources is published under ticker symbols GTBAF and GBR:CA. The price target is in USD and based on ticker symbol GTBAF. Great Bear Resources Ltd is a gold exploration company. It explores for mineral properties in the Red Lake District in Ontario, Canada. Its property portfolio includes Great Bear’s Red Lake Properties with the flagship Dixie project, Pakwash property, and Sobel property.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    LP Fault drilling continues at depth. LP Fault drilling continues to expand gold mineralization, including at depth. Drilling has targeted various points along 2.9 kilometers of strike length, between surface and ~600 meters depth. Results have been uniformly good. For example, Hole BR-407 returned 1.83 grams of gold per tonne over 91.35 meters from 430.40 to 521.75 meters depth, including 11.29 grams of gold per tonne over 3.00 meters. Hole Br-426 intersected gold assaying 3.10 grams of gold per tonne over 28.30 meters, including 16.07 grams of gold per tonne over 3.70 meters.

    Discovery of new high-grade gold zone.  Great Bear Resources recently resumed drilling near the Hinge and Limb zones and discovered a new high-grade gold zone. The “Midwest” zone is located 275 meters northwest of the Hinge zone and 250 meters south of the Dixie Limb zone. Previous holes drilled at the Limb zone did not penetrate far enough to the west to intersect the Midwest zone. Hole DL-071 …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Kratos Receives $4.1 Million Unmanned Aerial Vehicle System Award from International Customer

Posted on by Admin


Kratos Receives $4.1 Million Unmanned Aerial Vehicle System Award from International Customer

 

SAN DIEGO, 
Nov. 29, 2021 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that its Kratos Unmanned Systems Division (KUSD) has recently received a 
$4.1 million contract award from an international customer for high performance, unmanned aerial target drone system aircraft and related services. KUSD is a recognized industry leader in the design and production of affordable, high performance, jet powered, unmanned aerial aircraft and systems for threat representative target drones and tactical applications. Work under this contract award will be performed at secure Kratos manufacturing facilities and at customer locations. Due to competitive, security related, and other considerations, no additional information will be provided related to this contract award.

Steve Fendley, President of KUSD, said, “The recapitalization of strategic weapon systems by 
the United States and its allies is driving significant global demand for Kratos target drone systems, which represent certain leading technology system and platform threats of our peer adversaries.  At Kratos, affordability is a technology, and our high performance target and tactical drone systems are representative of our affordability mission. The broad application set of these drone systems as well as the speed at which they can be developed, produced, modified, and reconfigured creates the high utility / affordable cost ratio, especially as compared to manned systems. The capabilities and performance per cost ratio is highly recognized and appreciated by our established and growing customer base.”

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information, please visit www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Release – Capstone Green Energy Partners With PowerTap On Strategic Licensing and Manufacturing Agreement

Posted on by Admin

 


Capstone Green Energy (NASDAQ:CGRN) Partners With PowerTap (OTC:MOTNF) On Strategic Licensing and Manufacturing Agreement

 

Relationship Will Focus On Distributed Hydrogen Supply and Fueling Products

VAN NUYS, CA / ACCESSWIRE / November 29, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) (“Capstone” or the “Company”), a global leader in carbon reduction and on-site resilient green energy as a service (EaaS) solutions, announced today that it has entered into a strategic licensing and manufacturing agreement with PowerTap Hydrogen Capital Corporation (OTC PINK:MOTNF)(NEO:MOVE).

Aiming at becoming an industry leader in on-site hydrogen production and fueling, PowerTap has developed and patented a compact Steam Methane Reforming (SMR) technology to create on-site hydrogen production versus traditional methods. As a result of the new strategic agreement, Capstone Green Energy will manufacture the small footprint product for use in fueling stations and as part of its distributed energy, low emission microgrid solutions. The PowerTap product turns natural gas, including renewable natural gas (RNG), into on-site hydrogen and intends to leverage an innovative carbon capture system.

“In August 2020, PowerTap acquired the intellectual property portfolio of Hydrogen Fuel Technology”, stated PowerTap Senior Advisor David Bray. “More recently, PowerTap has partnered with the Andretti Group, a family of automotive product and service companies, in order to leverage the group’s vast network and dedication to excellent on-site operations. PowerTap will work hand-in-hand with the Andretti Group at the site level to drive an exciting customer experience with hydrogen fueling. The new partnership with Capstone will further those ambitions,” added Mr. Bray.

The Capstone Green Energy strategic licensing and manufacturing agreement will enhance PowerTap’s product development efforts and facilitate the manufacturing of their commercial hydrogen production and fueling products.

“The PowerTap third generation, on-site blue hydrogen production, and dispensing system is a unique solution that will drive the deployment of needed hydrogen infrastructure in the U.S. and abroad,” said Raghu Kilambi, Chief Executive Officer of PowerTap Hydrogen Capital Corp. “We selected Capstone Green Energy for their proven product development, certification, and manufacturing expertise. The strategic licensing and manufacturing agreement with Capstone Green Energy will facilitate the manufacturing and commercialization of our hydrogen production and fueling products,” added Mr. Kilambi.

The agreement is a part of the broader strategic plan for Capstone Green Energy as it supports the company’s ongoing product development goals for energy efficiency and microgrid applications using hydrogen and hydrogen blends. This initiative started many years ago with the patent of a hydrogen fuel injector, which has resulted in Capstone’s recent successful lab testing of 100% hydrogen microturbine energy systems. Capstone Green Energy’s development of hydrogen solutions is accelerating, driven by momentum in the hydrogen economy that is advancing a broad range of technologies as well as longer-term infrastructure planning.

“We continue to expand our presence within the ever-changing energy landscape through our complementary network partners and technologies that enable Capstone Green Energy’s customers to achieve their carbon reduction goals at a realistic cost,” said Capstone Green Energy President and Chief Executive Officer, Darren Jamison. “Capstone Green Energy looked at several hydrogen products and hydrogen conversion technologies. We selected PowerTap because their innovative product is designed to eliminate the significant cost and complication of delivered hydrogen and secure a dedicated on-site hydrogen supply for our hydrogen-fueled microturbine systems,” added Mr. Jamison.

“As a distributed energy and energy as a service (EaaS) solution provider, the Capstone Green Energy products can be located adjacent to a hydrogen generation source, such as PowerTap’s innovative offering, reducing the efficiency losses and costs that come with converting and transporting hydrogen,” stated Capstone Green Energy Chief Revenue Officer, Jim Crouse. “Combined with proposed hydrogen production and efficiency investment tax credits, the Capstone on-site solution becomes a cost-competitive, quick-to-market, best-value option enabling customers to reduce or even eliminate their carbon emissions greatly.”

Mr. Crouse concluded, “Today, hydrogen is believed by many to be the holy grail of carbon-free baseload power and distributed generation. As we improve our ability to produce hydrogen economically on site, hydrogen-fueled combined heat and power (H-CHP) and highly resilient microgrids have the ability to revolutionize the energy industry.”

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

About PowerTap Hydrogen Capital Corp.

PowerTap Hydrogen Capital Corp., through its wholly-owned subsidiary, PowerTap Hydrogen Fueling Corp. (“PowerTap”), is focused on installing hydrogen production and dispensing fueling infrastructure in the United States. PowerTap’s patented solution has been developed over 20 years. PowerTap is now commercializing its third-generation blue hydrogen product that will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure. There are currently under 100 operational publicly available hydrogen stations in the United States with most of the existing stations purchasing industrial hydrogen from industrial manufacturers and shipping hydrogen to individual stations via tanker trucks.

www.PowerTapcapital.com
www.PowerTapfuels.com

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop and manufacture new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

PowerTap

PR Contact:
Ajay Bruno
Account Director | AMW PR
c: 732.546.4287 o: 212.542.3146
ajay@amwpr.com

SOURCE: Capstone Green Energy Corporation