Entry Deadline Approaching for Prism Awards for Photonics Innovation

BELLINGHAM, WA and PITTSFIELD, MA—(Marketwired – September 30, 2016) – Entries are being accepted through 7 October for the prestigious 2017 Prism Awards for Photonics Innovation. The annual competition sponsored by SPIE, the international society for optics and photonics, and Photonics Media honors groundbreaking technology and product inventions from the optics and photonics industry.

The awards will be announced and presented in nine categories by photonics industry leaders at a gala banquet on 1 February during SPIE Photonics West in San Francisco.

Recent news details some winners' successes:

  • NKT Photonics announced its plan to purchase Fianium (winner Scientific Lasers, 2015: high–power fiber lasers generating ultrafast broadband supercontinuum light).
  • Seek Thermal (winner Imaging and Cameras, 2015: thermal imaging camera) announced a strategic marketing partnership with OtterBox.
  • Mermec (winner Detectors, Sensing, Imaging, and Cameras, 2012: diagnostic system mounted to high–speed trains to analyze tunnels and obstacles ahead) was awarded a 10–year contract by the Finnish Transport Agency.
  • Gartner, Inc., ranked Nanoscribe (winner Advanced Manufacturing, 2014: 3D laser lithography system) among the top five “Cool Vendors in 3D Printing 2016″.
  • Amplitude Systèmes (winner Industrial Lasers, 2012: ultrafast fiber laser) announced a partnership with Samsung Ventures Investment Corp., and a collaboration agreement with Max Born Institute.

Prism Awards boost visibility, recognition, and brand equity for companies bringing innovative products to market.

“Our goal with the Prism Awards is to give visibility to the extraordinary innovation across the optics and photonics community,” said SPIE CEO Eugene Arthurs. “Each year we showcase the realization of the potential for photonics that can be found in SPIE conferences. It is energizing to be part of this enterprise, encouraging invention, and laying the foundations for rewarding and meaningful careers.”

Applications are judged by a panel of industry experts, venture capitalists, luminaries, and visionaries.

“All great innovation starts with vision, and the vision shown annually by companies entering the Prism Awards continues to validate our own decades–strong mission to support the photonics industry. As media sponsor of the Prism Awards, we encourage every company with an exciting new product to enter the competition. Selection as a finalist or winner offers unprecedented exposure among peers and prospective customers alike,” said Tom Laurin, President/CEO of Laurin Publishing Co.

About SPIE

SPIE is the international society for optics and photonics, an educational not–for–profit organization founded in 1955 to advance light–based science, engineering and technology. The Society serves nearly 264,000 constituents from approximately 166 countries. In 2015, SPIE provided more than $5.2 million in support of education and outreach programs. www.spie.org

About Photonics Media
With a collective subscriber base of more than 150,000 worldwide and more than 1 million unique website visits per year, Laurin Publishing's Photonics Media products and publications lead the industry with editorial excellence and integrity — fostering a tradition of innovation and progress by sharing knowledge, insights and a vision for the future. More information at www.photonics.com

KBR Revises Guidance for 2016

HOUSTON, TX—(Marketwired – September 30, 2016) – KBR, Inc. (NYSE: KBR) announced today that the Company has updated earnings guidance for 2016 to reflect expected increases in costs to complete engineering, procurement and construction (“EPC”) projects.

The majority of the cost increases relate to an EPC project for an electric power–generating facility within our Non–strategic business segment. As previously announced, the Company intends to exit the fixed priced EPC business for new power projects and this project is the last within the Company's backlog of unfilled orders. The increased forecast costs are primarily driven by subcontractor cost increases due to recent poor productivity, schedule delay and changes in execution strategy. These costs stem from the impact of poor performance by the turbine supplier which continues to adversely impact construction progress. The project is approximately 86% complete as of September 30, 2016 with anticipated completion in the first half of 2017.

An EPC ammonia project in the Company's Engineering & Construction business segment has continued to experience unforeseen costs during startup and commissioning related to mechanical failures of a vendor–supplied compressor and pumps. These issues have further delayed expected completion of the project to October 2016 resulting in increased construction and repair costs and the recognition of contractual liquidated damages. This project is in the final stages of completion and start–up in anticipation of performance testing.

The amount of the expected cost increases is approximately $130 million on a pretax basis (EPS $0.91). We intend to seek compensation from vendors on both projects but, at this time, have not assumed any recovery in the financial results. As a result, KBR is revising full–year earnings guidance for 2016 EPS to a range of $0.30 to $0.50 per diluted share from the prior range of $1.20 to $1.45 per share excluding legal costs associated with legacy U.S. Government contracts. KBR expects the legacy legal costs to be approximately $15 million, or $0.11 per fully diluted share in 2016.

“While the cost increases are highly disappointing, particularly on the power project, these legacy projects are nearing completion and we will not execute any new standalone fixed price EPC power projects. We believe this performance confirms that the decision for KBR to exit the fixed price EPC power business is the right one. Our strategy of acquiring new companies in the primarily reimbursable governmental and industrial services businesses along with the acquisition of new hydrocarbon based technologies is expected to provide growing and more predictable earnings and cash flow in 2017 and beyond. The actions we have taken today help draw a line under the past and will allow KBR to enter 2017 clear of the associated legacy problem projects” said Stuart Bradie, President and Chief Executive Officer of KBR, Inc.

About KBR, Inc.

KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing approximately 25,800 people worldwide with customers in more than 80 countries and operations in 40 countries across three distinct global businesses:

  • Technology & Consulting, including proprietary technology in refining, ethylene, ammonia and fertilizers, and gasification; and niche consulting and know–how through subsidiaries Granherne, Energo and GVA
  • Engineering & Construction, including Offshore Oil & Gas; Onshore Oil & Gas; LNG/GTL; Refining; Petrochemicals; Chemicals; differentiated EPC, and Industrial Services
  • Government Services, incorporating KBRwyle, includes capabilities that span the full spectrum of government mission requirements including research and development, testing, engineering, logistics, deployed operations, and life–cycle sustainment.

KBR is proud to work with its customers across the globe to provide technology, value–added consulting services, integrated EPC delivery and Long Term Industrial Services to ensure consistent project delivery with predictable results. At KBR, we deliver.

Visit www.kbr.com

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward–looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed–fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR's most recently filed Annual Report on Form 10–K, any subsequent Form 10–Qs and 8–Ks, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward–looking statements for any reason.

KBR Revises Guidance for 2016

HOUSTON, TX—(Marketwired – September 30, 2016) – KBR, Inc. (NYSE: KBR) announced today that the Company has updated earnings guidance for 2016 to reflect expected increases in costs to complete engineering, procurement and construction (“EPC”) projects.

The majority of the cost increases relate to an EPC project for an electric power–generating facility within our Non–strategic business segment. As previously announced, the Company intends to exit the fixed priced EPC business for new power projects and this project is the last within the Company's backlog of unfilled orders. The increased forecast costs are primarily driven by subcontractor cost increases due to recent poor productivity, schedule delay and changes in execution strategy. These costs stem from the impact of poor performance by the turbine supplier which continues to adversely impact construction progress. The project is approximately 86% complete as of September 30, 2016 with anticipated completion in the first half of 2017.

An EPC ammonia project in the Company's Engineering & Construction business segment has continued to experience unforeseen costs during startup and commissioning related to mechanical failures of a vendor–supplied compressor and pumps. These issues have further delayed expected completion of the project to October 2016 resulting in increased construction and repair costs and the recognition of contractual liquidated damages. This project is in the final stages of completion and start–up in anticipation of performance testing.

The amount of the expected cost increases is approximately $130 million on a pretax basis (EPS $0.91). We intend to seek compensation from vendors on both projects but, at this time, have not assumed any recovery in the financial results. As a result, KBR is revising full–year earnings guidance for 2016 EPS to a range of $0.30 to $0.50 per diluted share from the prior range of $1.20 to $1.45 per share excluding legal costs associated with legacy U.S. Government contracts. KBR expects the legacy legal costs to be approximately $15 million, or $0.11 per fully diluted share in 2016.

“While the cost increases are highly disappointing, particularly on the power project, these legacy projects are nearing completion and we will not execute any new standalone fixed price EPC power projects. We believe this performance confirms that the decision for KBR to exit the fixed price EPC power business is the right one. Our strategy of acquiring new companies in the primarily reimbursable governmental and industrial services businesses along with the acquisition of new hydrocarbon based technologies is expected to provide growing and more predictable earnings and cash flow in 2017 and beyond. The actions we have taken today help draw a line under the past and will allow KBR to enter 2017 clear of the associated legacy problem projects” said Stuart Bradie, President and Chief Executive Officer of KBR, Inc.

About KBR, Inc.

KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing approximately 25,800 people worldwide with customers in more than 80 countries and operations in 40 countries across three distinct global businesses:

  • Technology & Consulting, including proprietary technology in refining, ethylene, ammonia and fertilizers, and gasification; and niche consulting and know–how through subsidiaries Granherne, Energo and GVA
  • Engineering & Construction, including Offshore Oil & Gas; Onshore Oil & Gas; LNG/GTL; Refining; Petrochemicals; Chemicals; differentiated EPC, and Industrial Services
  • Government Services, incorporating KBRwyle, includes capabilities that span the full spectrum of government mission requirements including research and development, testing, engineering, logistics, deployed operations, and life–cycle sustainment.

KBR is proud to work with its customers across the globe to provide technology, value–added consulting services, integrated EPC delivery and Long Term Industrial Services to ensure consistent project delivery with predictable results. At KBR, we deliver.

Visit www.kbr.com

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward–looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed–fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR's most recently filed Annual Report on Form 10–K, any subsequent Form 10–Qs and 8–Ks, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward–looking statements for any reason.

Badlands NGLs, LLC Announces Development of Gulf Coast Merchant Alpha Olefins Facility

DENVER, CO—(Marketwired – September 30, 2016) – Denver, Colorado–based Badlands NGLs, LLC (“Badlands”) announced the completion of several important milestones in its development of a Gulf Coast merchant alpha olefins (“AO”) manufacturing facility. The facility will manufacture the polyethylene co–monomers 1–butene and 1–hexene using a proprietary ethylene metathesis technology. The 1–butene product will be dimerized from ethylene and the 1–hexene will be trimerized from ethylene under a license agreement signed by Badlands. The newly announced facility is expected to begin operation in approximately 24 months and will have the ability to produce annual volumes of 93 KT of 1–butene and 141 KT of 1–hexene.

Most polyethylene co–monomer alpha olefin products are produced via an oligomerization process that produces a range of up to 14 different products, including 1–hexene and 1–butene, in set ratios. With the proprietary processes licensed by Badlands, the new facility will be able to produce 1–butene and 1–hexene on–purpose to meet demand without having to produce additional non–polyethylene co–monomer AO products.

Badlands is moving forward with an engineering, procurement and construction (“EPC”) agreement, including guarantees of schedule and cost for the project, with S&B Engineers and Constructors (“S&B”) of Houston, Texas. S&B has recent EPC experience with ethylene trimerization synthesis of 1–hexene. Badlands chose S&B after a competitive process.

S&B CEO Jimmy Slaughter commented, “We have been impressed with Badlands' development plans for this important facility and have close ties to the Badlands team. We were pleased to be chosen for this project and are committed to its success.”

Badlands also announced that it has signed a 15–year product offtake agreement for 100% of the AO products produced by the new facility. Badlands' offtake partner is a major petrochemical and polymers industry marketer and offtaker and Badlands has maintained a longstanding relationship with its offtake partner.

At this time, Badlands continues to consider two alternative Gulf Coast sites for the project and expects final site selection in the next few weeks. Both sites are located on or adjacent to water transport of products thereby facilitating supply of Badlands AO products to both domestic and international customers.

Badlands has signed an agreement with an institutional investor in order to source all required project funding.

William Jeffrey Gilliam, CEO of Badlands, stated that, “the new Badlands AO facility will be the first merchant on purpose 1–butene and 1–hexene facility on the U.S. Gulf Coast. We look forward to working with our EPC, offtake and technology licensing partners as we complete this facility and begin to supply merchant AO products to the marketplace.”

ABOUT BADLANDS NGLS

Badlands NGLs LLC is a petrochemical company based in Denver, CO that is developing assets that add value to the abundance of natural gas liquids in the United States. Badlands is developing its assets with principals and strategic partners that have considerable experience in development, construction and management of operations of olefin and petrochemical assets.

Horizon Minerals Corp. Provides Corporate Update

LAS VEGAS, NEVADA—(Marketwired – Sep 30, 2016) – Horizon Minerals Corp. (“Horizon” or the “Company”) (OTC PINK:HZNM) is pleased to announce an update on its corporate activities and expected work programs for 2016 and 2017. As previously announced on March 25, 2013, the Company changed its name from Safe Dynamics Corp. to Horizon Minerals Corp., with the intent to enter the mineral mining industry. The Company has now completed a review of its assets and believes it has a clear pathway to optimizing the value of its assets and create significant value for shareholders.

The Company's intent is to focus its corporate efforts on lithium, an energy metal commodity synergistic with the Company's existing business operations and technical capabilities. The Company's unique capabilities, newly applied to the lithium industry, will create increased shareholder value and expose the Company to rapidly expanding global demand for lithium. The Company has advanced its program of mining target identification, exploration and evaluation, and is now negotiating specific mineral claims for a prospective portfolio of lithium projects.

On August 10, 2016, the Company announced the engagement of Gold Exploration Management Inc. (“Gold Exploration”), a private corporation providing mineral exploration project management services. Gold Exploration has been actively involved in the evaluation of gold and lithium exploration concessions in Nevada, which hosts the only commercial producing lithium operation in North America – Silver Peak, owned and operated by Albemarle Corporation. The Company continues to evaluate opportunities through Gold Exploration and expects to update shareholders soon about the interim results of this engagement.

The Company is dedicated to responsibly identifying, acquiring and developing lithium mineral assets in mining–friendly jurisdictions. With the support of its technical advisors, the Company is systematically moving through the process of analyzing lithium prospects under the regulations of local authorities.

FORWARD–LOOKING STATEMENTS

Information set forth in this news release contains forward–looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Horizon cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Horizon's control. Such factors include, among other things: risks and uncertainties relating to Horizon's business plan, Horizon's ability to raise sufficient financing and Horizon's limited operating history. There is no assurance that the anticipated events will transpire as planned. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Horizon undertakes no obligation to publicly update or revise forward–looking information. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Horizon files from time to time with the SEC, including its Annual, Quarterly and Current Reports.

New Building, ISO 9001 Certification and Federal Firearms License Helps ISO Finishing Meet Expanding Customer Needs

MINNEAPOLIS, MN—(Marketwired – September 30, 2016) – ISO Finishing, a leader in isotropic mass finishing, today announced that it has moved to a new 20,000–square–foot building in Loretto, Minn., just 15 minutes west of the Twin Cities I–494 loop. The state–of–the–art–building features a clean–processing environment and a wide array of high–energy, centrifugal barrel machines, making it ideal for finishing a wide variety of parts requiring micro–precision surface improvement.

“Our new facility enables us to better serve the diverse needs of our customers,” says owner Mike Klein.

Those customers, served by a nationwide network of representatives, include injection molders, OEMs, medical and dental device manufacturers and performance motorsports manufacturers, all of whom depend on ISO Finishing to deliver high–quality, finished products, on time and within budget.

The company is also pleased to announce that it has been awarded ISO 9001 certification by TUV, an internationally accredited certification body. “This certification recognizes our commitment to quality management and reassures our customers that we have well–documented policies and procedures,” says Klein.

In addition to its ISO 9001 certification, ISO Finishing also earned its Federal Firearms License, which enables the company work on both firearm components and accessories.

About ISO Finishing

ISO Finishing is a family–owned, privately held isotopic mass finishing job shop that specializes in high–energy polishing and micro–precision surface improvement. Based in Loretto, Minn., 15 minutes west of the Twin Cities I–494 loop, the company offers a nationwide network of representatives as well as free sample polishing. For more information, including a list of equipment, visit www.ISOfinishing.com or contact Mike Klein at mike@ISOfinishing.com or (763) 273–1052.

New Building, ISO 9001 Certification and Federal Firearms License Helps ISO Finishing Meet Expanding Customer Needs

MINNEAPOLIS, MN—(Marketwired – September 30, 2016) – ISO Finishing, a leader in isotropic mass finishing, today announced that it has moved to a new 20,000–square–foot building in Loretto, Minn., just 15 minutes west of the Twin Cities I–494 loop. The state–of–the–art–building features a clean–processing environment and a wide array of high–energy, centrifugal barrel machines, making it ideal for finishing a wide variety of parts requiring micro–precision surface improvement.

“Our new facility enables us to better serve the diverse needs of our customers,” says owner Mike Klein.

Those customers, served by a nationwide network of representatives, include injection molders, OEMs, medical and dental device manufacturers and performance motorsports manufacturers, all of whom depend on ISO Finishing to deliver high–quality, finished products, on time and within budget.

The company is also pleased to announce that it has been awarded ISO 9001 certification by TUV, an internationally accredited certification body. “This certification recognizes our commitment to quality management and reassures our customers that we have well–documented policies and procedures,” says Klein.

In addition to its ISO 9001 certification, ISO Finishing also earned its Federal Firearms License, which enables the company work on both firearm components and accessories.

About ISO Finishing

ISO Finishing is a family–owned, privately held isotopic mass finishing job shop that specializes in high–energy polishing and micro–precision surface improvement. Based in Loretto, Minn., 15 minutes west of the Twin Cities I–494 loop, the company offers a nationwide network of representatives as well as free sample polishing. For more information, including a list of equipment, visit www.ISOfinishing.com or contact Mike Klein at mike@ISOfinishing.com or (763) 273–1052.