Indonesia Energy Corporation to Host Investor Conference Call to Present Initial Results on its First New Well Drilled at Kruh Block

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / May 18, 2021 / Indonesia Energy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that it will be hosting an investor conference call on Tuesday, June 8, 2021 in order to provide an update (including initial results) on the drilling and completion of IEC’s first new producing well at Kruh Block, called “Kruh 25”. IEC will provide specific dial-in details for the call in a separate communication.

As previously announced, this first well commenced drilling on Wednesday, April 21 at 9:30 a.m. on Sumatra Island. The well has a target total depth of 3,400 feet. Kruh 25 is one of the 3 new wells being drilled at Kruh Block this year, which are expected to average production of approximately 170 barrels of oil per day over the first year of production. IEC anticipates that each well will cost approximately $1.5 million to drill and complete. Based on the terms of IEC’s contract with the Indonesian government and an assumed oil price of $63.50/barrel, each well is expected to generate $3.33 million in net revenue in its first year, which is more than double the cost to drill each well.

Mr. Frank Ingriselli, IEC’s President, commented “We are excited that our first well at Kruh Block is almost at total depth (expected in the next few days). Our 3 new wells, which we have the cash to drill, have the potential to grow production and cash flow for our company by over 200%. This drilling campaign is targeted to significantly grow our cash flow as we seek to maximize returns on our investments and grow shareholder value.”

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, the anticipated results of IEC’s 2021 exploration and production activities at Kruh Block and the impact of such activities on IEC’s results of operations) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

Indonesia Energy Corporation to Host Investor Conference Call to Present Initial Results on its First New Well Drilled at Kruh Block

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / May 18, 2021 / Indonesia Energy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that it will be hosting an investor conference call on Tuesday, June 8, 2021 in order to provide an update (including initial results) on the drilling and completion of IEC’s first new producing well at Kruh Block, called “Kruh 25”. IEC will provide specific dial-in details for the call in a separate communication.

As previously announced, this first well commenced drilling on Wednesday, April 21 at 9:30 a.m. on Sumatra Island. The well has a target total depth of 3,400 feet. Kruh 25 is one of the 3 new wells being drilled at Kruh Block this year, which are expected to average production of approximately 170 barrels of oil per day over the first year of production. IEC anticipates that each well will cost approximately $1.5 million to drill and complete. Based on the terms of IEC’s contract with the Indonesian government and an assumed oil price of $63.50/barrel, each well is expected to generate $3.33 million in net revenue in its first year, which is more than double the cost to drill each well.

Mr. Frank Ingriselli, IEC’s President, commented “We are excited that our first well at Kruh Block is almost at total depth (expected in the next few days). Our 3 new wells, which we have the cash to drill, have the potential to grow production and cash flow for our company by over 200%. This drilling campaign is targeted to significantly grow our cash flow as we seek to maximize returns on our investments and grow shareholder value.”

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, the anticipated results of IEC’s 2021 exploration and production activities at Kruh Block and the impact of such activities on IEC’s results of operations) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

Indonesia Energy Makes NYSE American Section 610(b) Public Announcement

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / May 18, 2021 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that, as disclosed in its Annual Report on Form 20-F for the year ended December 31, 2020 (the “Form 20-F”) filed today, May 17, with the Securities and Exchange Commission, IEC’s audited financial statements for the year ended December 31, 2020 included in the Form 20-F contained an audit opinion from its independent registered public accounting firm which included a going concern qualification paragraph.

This announcement is made pursuant to NYSE American Company Guide Section 610(b), which requires separate public announcement of the receipt of an audit opinion containing a going concern paragraph. This announcement does not represent any change or amendment to IEC’s audited financial statements for the year ended December 31, 2020 or to the Form 20-F.

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

image credit: Itiro (Flickr)

Harnessing Nuclear Power

Above our heads there is a powerful energy source created by nature, the Sun. Because the Sun is 93 million miles from us, only one-billionth of the Sun’s total energy output reaches the Earth, creating a world full of life. The energy that the Sun gives the Earth’s surface every second is more than the total electricity generated from all power plants in the world in the entire year of 2018.

Humans power machines mostly by harvesting energy: for example, harvesting the energy of falling water and converting it to electricity in hydroelectric power plants. To create energy, you have to convert matter to energy.

Chain Reactions

One way to do this is to split atoms, the basic building blocks of all matter in the universe. Do so controllably and you can produce a steady flow of energy. Lose control and you release a lot of energy all at once in a nuclear explosion.

The core of every atom, the nucleus, is made up of even smaller particles, protons and neutrons. The force holding the nucleus together stores a huge amount of energy. To obtain energy from the nucleus, scientists came up with a process of splitting a heavy atom into lighter atoms. Because the lighter atoms don’t need as much energy to hold the nucleus together as the heavy atoms, energy is released as heat or light. This process is called nuclear fission.

When one atom is split, a chain reaction starts: The split atom will trigger another atom to be split, and so on. To make the chain reaction controllable, scientists developed ways to slow down the splitting, such as absorbing some of the split particles.

Nuclear Power

Nuclear power plants harvest the energy released by splitting atoms controllably. The world’s largest nuclear power plant is the Kashiwazaki-Kariwa Nuclear Power Station in Japan. It consists of seven nuclear reactors, with a maximum capacity of about 8,000 megawatts. The world’s largest single nuclear reactor is a tie between the the two reactors at China’s Taishan Nuclear Power Plant. Each Taishan reactor has a capacity of 1,750 megawatts.

Nuclear power plants use nuclear reactions to heat water to produce steam that drives turbines that in turn drive generators that produce electricity. Image Credit, NRC

This amount of power is much smaller than uncontrolled nuclear reactions, such as atomic bombs. Nowadays, the energy output from detonating an atomic bomb is equivalent to the electricity the Kashiwazaki-Kariwa plant generates in half a year.

A downside of fission is nuclear waste. The split atoms are usually unstable and emit dangerous radiation. Nuclear waste needs to be stored properly for many years.

Fusion Near and Far

Scientists have also discovered another type of nuclear reaction, one that produces energy without nuclear waste. As two lighter atoms combine into a heavy atom, the lost mass converts into energy. This process is called nuclear fusion. Fusion is happening in the core of the Sun. In each second, the Sun burns about 600 million tons of hydrogen into about 596 million tons of helium, yielding the energy equivalent to trillions of atomic bombs.

Cutaway illustration shows what the core of a nuclear fusion reactor would look like. Image Credit: Argonne National Laboratory

It is very difficult to achieve nuclear fusion on Earth. Fusion happens only at extreme conditions, such as the very high temperatures and pressure of the Sun. Scientists have yet to effectively demonstrate controllable nuclear fusion that produces more energy than it consumes, but they are working hard to do so. One way is to shoot high-power lasers from different directions at a tiny speck of hydrogen isotopes.

For Now

Energy from nuclear fusion would be a promising energy solution in the future. But, we can still tap into the huge nuclear fusion reactor above our heads, the Sun. With the improving efficiency of solar energy, the more energy we capture, the less need there is to create it.

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic
experts.  Written by , Xuejian Wu Assistant Professor of Physics, Rutgers University – Newark

Suggested Reading:

Is the Future of Nuclear Energy Small Modular Reactors?	The Increasing Popularity of Uranium Investments

How Does Uranium Fit Into the ESG Landscape	The Case for Higher Uranium Prices

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Friday, May 14, 2021

Energy Fuels (UUUU)(EFR:CA)
Financial Results Lower on Limited Sales, Company Gearing Up For Rare Earth Push

As of April 24, 2020, Noble Capital Markets research on Energy Fuels is published under ticker symbols (UUUU and EFR:CA). The price target is in USD and based on ticker symbol UUUU. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Energy Fuels is the largest uranium producer in the U.S. and holds more production capacity and uranium resources than any other U.S. producer. The Company also produces vanadium. Headquartered in Colorado, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Facility in Wyoming, and the Alta Mesa ISR Facility in Texas. The producing White Mesa Mill is the only conventional uranium mill in the U.S. and has a licensed capacity of 8 million pounds of U3O8 per year. Nichols Ranch is in production and has a licensed capacity of 2 million pounds of U3O8 per year. Alta Mesa is currently on standby. Energy Fuels also owns several licensed and developed uranium and vanadium mines on standby and other projects in development.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

Energy Fuels reported a loss net to the company of $10.9 million ($0.08) versus a loss of $5.7 million ($0.05). With uranium and vanadium operations largely shut down until prices improve, the loss was not unexpected. Revenues were a modest $353,000, in line with previous quarters. The company has been recovering modest amounts of uranium from alternate feed materials and mixed rare earth elements processing and uranium inventories have grown to 690,800 pounds of uranium from 134,000 a year ago. The company has not entered into any long-term sales contracts and does not expect to do so in 2020.


Company is gearing up for a rare earth elements (REE) push.  Energy Fuels took advantage of a higher stock price to raise $12.99 million growing its cash position to $44 million from $24 million at the end of the year. In a recent presentation to analyst at another firm, management indicated it would take $2 million to convert the White Mesa mill to produce REE carbonate. It would take another $4-5 …

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. 

Friday, May 14, 2021

Gevo, Inc. (GEVO)
Net-Zero Concept On Track and RNG Project Financed

Gevo Inc is a renewable chemicals and biofuels company engaged in the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. Its operating segments are the Gevo segment and the Gevo Development/Agri-Energy segment. By its segments, it is involved in research and development activities related to the future production of isobutanol, including the development of its biocatalysts, the production and sale of biojet fuel, its Retrofit process and the next generation of chemicals and biofuels that will be based on its isobutanol technology. Gevo Development/Agri-Energy is the key revenue generating segment which involves the operation of the Luverne Facility and production of ethanol, isobutanol and related products.

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

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

1Q2021 EBITDA Loss Higher Than Expected. Adjusting 2021 EBITDA loss estimate. 1Q2021 EBITDA loss of $7.8 million was higher than than expected due to early stage project development expenses of $2.7 million. Our new 2021 EBITDA loss estimate increases to $39.8 million to include the ramping up of early stage project costs, including FEED and other development costs.


Renewable Natural Gas (RNG) financing closed and project on track for startup next year.  A 21-year green bond financing of $67.2 million at an interest rate of 1.5% closed and will finance the RNG plant. The wholly-owner project is likely to be consolidated, and development and other costs of $9.3 million were reimbursed at closing. RNG plant starts up in 2H2022 and annual cash flow is estimated at …

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. 

Energy Fuels Announces Q1-2021 Results, Including Robust Balance Sheet, Continued Readiness to Supply Uranium into the U.S. Uranium Reserve when Established & Continued Ramp-up to Commercial Rare Earth Production; Webcast on Monday, May 17, 2021

Thursday, May 13, 2021

Capstone Green Energy Corporation (CGRN)(CGRN:CA)
Capstone Receives Hydrogen Microturbine Order

Capstone Green Energy Corp is the producer of low-emission microturbine systems. The company develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications. Capstone Turbine’s products include onboard generation for hybrid electric vehicles; conversion of oil field and biomass waste gases into electricity; combined heat, power, and chilling solutions; capacity addition; and standby power.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

Capstone Green Energy (formerly Capstone Turbine) received an order for a microturbine intended to run on hydrogen. The order by Blue Economy CRC, a cooperative research center working in partnership to develop Australia’s aquaculture industry, represents the first hydrogen microturbine for Capstone. Capstone only recently released its first commercial Combined Heat and Power product, which runs on 10% hydrogen and 90% natural gas. Capstone is testing a 30% hydrogen unit and has begun research on a 100% hydrogen unit.


The unit will use hydrogen generated from renewable sources.  Blue Economy and partners will use hydrogen from solar, wind and wave sources to feed the microturbine. It will be part of a microgrid that will support offshore research and aquaculture for food production. It will allow the potential for 100% hydrogen-fuel-based power generation in the future. The initial stage is designed to provide …

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. 

Gevo Reports First Quarter 2021 Financial Results

Gevo to Host Conference Call Today at 4:30 p.m. EDT/2:30 p.m. MDT

ENGLEWOOD,
Colo. – May 13, 2021 – Gevo, Inc. (NASDAQ: GEVO) today announced financial results for the first quarter of 2021 and recent corporate highlights.

Recent Corporate Highlights

2021 First Quarter Financial Highlights

• Ended the quarter with cash and cash equivalents of $525.3 million compared to $78.3 as of the end Q4 2020
• Revenue of $0.1 million for the quarter compared to $3.8 million in Q1 2020
• Loss from operations of ($9.9) million for the quarter compared to ($8.0) million in Q1 2020
• Non-GAAP cash EBITDA loss[1] of ($7.8) million for the quarter compared to ($6.2) million in Q1 2020
• Net loss per share of ($0.05) for the quarter compared to ($0.64) in Q1 2020
• Non-GAAP adjusted net loss per share[2] of ($0.05) for the quarter compared to ($0.59) in Q1 2020

Commenting on the first quarter of 2021 and recent corporate events, Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer, said “the FEED engineering work is going well and is on schedule. The RNG plant is expected to be online in 2022 and begin to generate cash then. The interest in our product and the customer pipeline has increased significantly, which is extremely positive. Overall, things are going very well and we are successfully executing our business plans.”

First Quarter 2021 Financial Results

Revenue for the three months ended March 31, 2021 was $0.1 million compared with $3.8 million in the same period in 2020.

During the three months ended March 31, 2021, hydrocarbon revenue was
nil compared with $0.1 million in the same period in 2020. Hydrocarbon sales decreased because of lower production volumes at Gevo’s demonstration plant at the South Hampton Resources, Inc. facility in Silsbee, Texas (the “South Hampton Facility”). Gevo’s hydrocarbon revenue is comprised of sales of sustainable aviation fuel and renewable premium gasoline.

During the three months ended March 31, 2021, no revenue was derived at Gevo’s production facility in Luverne, Minnesota (the “Luverne Facility”) related to ethanol sales and related products, a decrease of approximately $3.7 million from the same period in 2020. As a result of COVID-19 and in response to an unfavorable commodity environment, Gevo terminated its production of ethanol and distiller grains in March 2020. Gevo’s Luverne Facility is not currently producing ethanol but is performing maintenance in preparation for isobutanol production expected to begin in June 2021. Currently, the South Hampton Facility is not producing renewable premium gasoline or jet fuel. Gevo expects to produce isobutanol in intermittent campaigns during 2021 to supply the South Hampton Facility so that renewable premium gasoline or jet fuel can be produced in 2021.

Cost of goods sold was $2.0 million for the three months ended March 31, 2021, compared with $8.1 million in the same period in 2020, primarily as a result of terminating ethanol production due to COVID-19 and in response to an unfavorable commodity environment. Cost of goods sold included approximately $0.9 million associated with the maintenance of the Luverne Facility and approximately $1.1 million in depreciation expense for the three months ended March 31, 2021.

Gross loss was $1.9 million for the three months ended March 31, 2021, compared with a $4.3 million gross loss in the same period in 2020.

Research and development expense increased by $0.8 million during the three months ended March 31, 2021 compared with the same period in 2020, due primarily to an increase in personnel and consultant expenses.

Selling, general and administrative expense increased by $1.2 million during the three months ended March 31, 2021, compared with the same period in 2020, due primarily to an increase in personnel and consulting expenses.

Preliminary stage project costs increased by $2.6 million during the three months ended March 31, 2021, compared with the same period in 2020, due primarily to increased consulting and research and development expenses related to our RNG and Net-Zero projects.

Loss from operations in the three months ended March 31, 2021 was $9.9 million, compared with a $8.0 million loss from operations in the same period in 2020.

Non-GAAP cash EBITDA loss[3] in the three months ended March 31, 2021 was $7.8 million, compared with a $6.2 million non-GAAP cash EBITDA loss in the same period in 2020.

Interest expense in the three months ended March 31, 2021 was nil, a decrease of $0.5 million as compared to the same period in 2020, due to the conversion of all of Gevo’s 12% convertible senior secured notes due 2020/2021 to common stock during 2020.

In the three months ended March 31, 2021, Gevo recognized net non-cash loss totaling $0.1 million due to changes in the fair value of certain of its financial instruments, such as warrants.

Gevo incurred a net loss for the three months ended March 31, 2021 of $10.1 million, compared with a net loss of $9.3 million during the same period in 2020. Non-GAAP adjusted net loss[4] for the three months ended March 31, 2020 was $10.0 million, compared with a non-GAAP adjusted net loss of $8.5 million during the same period in 2020.

Cash at March 31, 2021 was $525.3 million compared to $78.3 as of the end Q4 2020.

Webcast
and Conference Call Information

Hosting today’s conference call at 4:30 p.m. EDT (2:30 p.m. MDT) will be Dr. Patrick R. Gruber, Chief Executive Officer, L. Lynn Smull, Chief Financial Officer, Carolyn M. Romero, Chief Accounting Officer, and Geoffrey T. Williams, Jr., Vice President – General Counsel & Secretary. They will review Gevo’s financial results and provide an update on recent corporate highlights.

To participate in the conference call, please dial 1 (833) 729-4776 (inside the U.S.) or 1 (830) 213-7701 (outside the U.S.) and reference the access code 6295166# or through the event weblink https://edge.media-server.com/mmc/p/ocbho96s.

A replay of the call and webcast will be available two hours after the conference call ends on May 13, 2021. To access the replay, please dial 1 (855) 859-2056 (inside the U.S.) or 1 (404) 537-3406 (outside the U.S.) and reference the access code 6295166#. The archived webcast will be available in the Investor Relations section of Gevo’s website at www.gevo.com.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel, and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full lifecycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low carbon products such as gasoline components, jet fuel, and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that Argonne National Laboratory GREET model is the best available standard of scientific based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

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 relate to a variety of matters, including, without limitation, Gevo’s business development activities, Gevo’s Net-Zero Projects, Gevo’s RNG Project, the FEED engineering work, Gevo’s offtake agreements, Gevo’s plans to develop its business, Gevo’s ability to successfully construct and finance its operations and growth projects, Gevo’s ability to achieve cash flow from its planned projects, the ability of Gevo’s products to contribute to lower greenhouse gas emissions, particulate and sulfur pollution and other statements that are not purely statements of historical fact. These forward-looking statements are made based on the current beliefs, expectations and assumptions of the management of Gevo 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 Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo 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 Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020 and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Non-GAAP
Financial Information

This press release contains financial measures that do not comply with U.S. generally accepted accounting principles (GAAP), including non-GAAP cash EBITDA loss, non-GAAP adjusted net loss and non-GAAP adjusted net loss per share. Non-GAAP cash EBITDA loss excludes depreciation and amortization and non-cash stock-based compensation. Non-GAAP adjusted net loss and adjusted net loss per share excludes non-cash gains and/or losses recognized in the quarter due to the changes in the fair value of certain of Gevo’s financial instruments, such as warrants, convertible debt and embedded derivatives. Management believes these measures are useful to supplement its GAAP financial statements with this non-GAAP information because management uses such information internally for its operating, budgeting and financial planning purposes. These non-GAAP financial measures also facilitate management’s internal comparisons to Gevo’s historical performance as well as comparisons to the operating results of other companies. In addition, Gevo believes these non-GAAP financial measures are useful to investors because they allow for greater transparency into the indicators used by management as a basis for its financial and operational decision making. Non-GAAP information is not prepared under a comprehensive set of accounting rules and therefore, should only be read in conjunction with financial information reported under U.S. GAAP when understanding Gevo’s operating performance. A reconciliation between GAAP and non-GAAP financial information is provided in the financial statement tables below.

Capstone Green Energy (NASDAQ:CGRN) Receives Order for a Microturbine Intended to Run on Hydrogen for a Remote Offshore Demonstration Project

Renewable Energy System Will Support Sustainable Seafood
Production in Tasmania, Australia

VAN NUYS, CA / ACCESSWIRE
/ May 12, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) (“Capstone” or the “Company”), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it has received an order for a microturbine intended to run on hydrogen. Secured by Capstone partner Optimal Group, the order for Blue Economy CRC is an integral part of an offshore DC-power based microgrid that will support offshore research and aquaculture for food production.

Blue Economy CRC is a cooperative research center in partnership with national and international universities and industry that was established to bring together sustainable seafood production and renewable energy in order to further develop Australia’s aquaculture industry. Supporting the organization’s mission by providing emissions-free electricity, the microgrid will manage the energy generated from readily available offshore, renewable resources, including solar, wind, and waves, and use it to produce hydrogen via a 700 kW electrolyzer. The hydrogen produced by the ITM Power electrolyzer will be connected to the microturbine, which will provide power on demand. The result is expected to be a safe and clean microgrid that serves as an opportunity to showcase the environmental benefits and flexibility of green hydrogen as an energy storage medium and fuel source for resilient power generation. Beyond offering the potential for 100% hydrogen-fuel-based power generation, the microturbine was an ideal fit due to its ability to operate at partial loads while matching its output to the demands of the rest of the microgrid system.

The initial stage of the project aims to provide proof of concept for a DC microgrid combined with multiple renewable sources. Subsequently, a full marinization and commercialization of the system will be completed to support remote, offshore operation.

Capstone Green Energy continues to expand and develop its new Hydrogen Solutions business line. The Company recently released its first commercially available hydrogen-based Combined Heat and Power (CHP) product, which can safely run on a 10% hydrogen – 90% natural gas mix, and the Company is targeting a commercial release of 30% hydrogen – 70% natural gas mix product by March 31, 2022. In addition, through its Research and Development partnership with Argonne National Laboratory, the Company is currently testing a 70% hydrogen – 30% natural gas configuration. Argonne National Laboratory is a national science and technology research laboratory operated by the University of Chicago Argonne LLC for the United States Department of Energy. The nation’s first national laboratory, Argonne conducts leading-edge basic and applied scientific research in virtually every scientific discipline. This particular demonstration project is intended to run on 100% hydrogen.

“This is truly an exciting demonstration project to be part of and an important technical building block as we continue to move towards a commercial 100% hydrogen CHP and microgrid product,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Capstone’s ability to provide a microturbine that is intended to be 100% hydrogen-fueled marks an important evolution in our solution offerings as we continue to offer ever-more sustainable configurations for our customers,” added Mr. Jamison.

“This is a project of many firsts. It will be the largest hydrogen electrolyzer in Tasmania and amongst the largest in Australia,” said Craig Dugan, Chief Executive Officer of Optimal Group. “The first hydrogen Capstone microturbine to be deployed in Tasmania and only the second in Australia, indeed worldwide. On the current research program schedule, it should be the first hydrogen microgrid to be installed offshore.” Mr. Dugan added, “Optimal is delighted to be a part of the ground-breaking Blue Economy CRC research program and to be selected to provide the microturbine, electrolyzer, and DC microgrid.”

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.

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 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

SOURCE: Capstone Green Energy Corporation

image credit: Stian Olsen (flickr.com)

Oil and Natural Gas Pipelines are Taken for Granted – Here are Ten Facts You Should Know

Pipelines have been in the news lately.

There’s news of the 21 state lawsuit to keep the Keystone XL pipeline project moving forward, and now The Colonial Pipeline, a 2.5-million-barrel-per-day transport system that was shut down after a cyberattack on May 7.

Pipelines impact our daily lives by delivering oil, gas, jet fuel, diesel, and other refined products. Yet most of us know little about them and the businesses they serve, along with the business of transportation and distribution of liquids that travel through pipelines.

Below are ten information bits to help improve understanding of this seldom thought of, yet critical business.

Millions of Miles of Pipelines The combined length could reach the moon and back three times.

The U.S. has more than 1,382,569 million miles of pipeline that moves trillions of cubic feet of natural gas and hundreds of billions of tons of liquid petroleum products each year.

Different Pipelines for Different
Products There are three types of pipelines. Crude oil is collected and transported by pipeline to refineries. Natural gas is pumped from wells to the refineries using a different type of pipeline. Once oil and natural gas have been refined into other products, they are then distributed for use by the third type of pipeline.

Cleaned by PIGs Pipeline Inspection Gauges (PIGs) are devices that travel through pipelines to inspect the pipes interior and clean debris. This is part of the preventative measures to get an early warning on any risks to the pipeline’s integrity.

Safest  Transportation Method  Transportation by rail is 4.5 times more likely to experience an accident while moving natural resources (according to the Fraser Institute).

The National Transportation and Safety Board ranks pipelines as one of the safest ways of transporting oil and natural gas.

Pipelines Vary in Width Determining the appropriate width for a pipeline depends on pressures, temperatures and volumes being transported. Pipelines that transport oil and natural gas range anywhere from two inches to four feet in diameter.

Pipelines Have a Long History The first known use of pipe to transport oil started soon after the first commercial oil well was built back in 1859 by “Colonel” Edwin Drake (Titusville, Pennsylvania).

Pipeline Capital of the World The city of Cushing, Oklahoma, has one of the largest pipeline hubs in the world. Approximately 50 million barrels of crude oil flow into its distribution network each day, with a maximum potential of 80 million barrels. The city has hundreds of tanks that hold more than 2 billion gallons of crude oil in reserve.

Drones, Sealants, and Fiber-Optic
Technology Outside the pipeline, supplementing physical inspection by workers, drones equipped with cameras and advanced sensors are used to inspect above-ground pipelines. Current sealant technology is used on pipe exteriors to prevent corrosion, while fiber optic cables run alongside the pipeline to detect any threats to the pipes integrity.

Sacrificial Metal Metal Pipelines are protected by an electrical shield called cathodic protection, and a current is passed through an electric line connecting the pipeline to a secondary metal. This method causes corrosion to occur on the secondary (sacrificial) metal rather than the iron or steel pipe.

The U.S. is No. 1 in the World The U.S. has more petroleum pipelines than any other country with 1,233,000 miles of piped natural gas transport and 149,570 miles in petroleum products. In second place is Russia (101,825 miles) followed by Canada (62,137 miles).

Opportunity

Energy Services of America (ESOA) is a publicly-traded company engaged in the construction, replacement, and repair of natural gas pipelines and storage facilities for utility companies and private natural gas companies. You can discover more about ESOA by attending the no-cost virtual roadshow by following the links below.

Virtual Road Show Series – Thursday May 13 @ 1:00pm EDT Join Energy Services of America CEO Douglas Reynolds for this exclusive corporate presentation, followed by a Q & A session moderated by Poe Fratt, Noble’s senior research analyst, featuring questions taken from the audience. Registration is free and open to all investors, at any level. Register Now  |  View All Upcoming Road Shows

Friday, May 07, 2021

InPlay Oil (IPOOF)(IPO:CA)
2021-1Q Operating Results Leverage Drilling Success

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

First quarter production results surpassed elevated expectations. Results were generally in line with our elevated expectations. Production levels rose to 4,965 BOE/day, up 17% q-t-q and above our 4,809 estimate. Wells drilled in the Pembina Basin last year are producing well above expectations leading management to shift drilling to that area (including 3 wells drilled this quarter) where the company made a recent tuck-in acquisition. The shift is making light oil a larger component of production at a time of high oil prices.


Realized prices were slightly below expectations.  Realized oil prices were C$55.75/BBL, a sharp rise over previous quarters but below our C$60.49 estimate. Basin discounts were larger than expected and will need to improve in upcoming quarters to meet management’s guidance for the year. Natural gas and NGL prices were in line with expectations. No new hedges were added leaving more than half of …

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. 

Thursday, May 06, 2021

InPlay Oil (IPOOF)(IPO:CA)
Now Is a Good Time to Look At InPlay

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

Our price objective was increased 150% last March due to higher energy prices and improved company fundamentals. On March 24th, we raised our P.O. on the shares of IPOOF to $1.50 from $0.60 ($2.00 from $0.45 for the shares of IPO.TO). The increase reflected higher near-term oil prices, lower basin differentials, a better currency exchange rate, decreased operating cost assumptions, improved free cash flow generation and the ability to pay down debt, growth in the company’s proved reserve position, and a shift in valuation metrics with the passing of 2020.


Since that time, energy prices have moved even higher.  WTI spot prices have risen to approximately $66.50/BBL from $58.56/BBL on March 24th. Western Canada Select (WCS) prices have also risen and now trade near $53/BBL (C$64.60). A $13 differential compares favorably to a differential near $17 at this time last year. Natural gas spot prices are also higher, reaching a current price near $2.95/mcf …

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.