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Final series of testing remains before the first newly constructed nuclear unit in the U.S. in over 30 years enters service

ATLANTA, May 29, 2023 /PRNewswire/ — Georgia Power announced today Vogtle Unit 3 has safely reached 100 percent power, marking a major milestone towards commercial operation and service for customers. This milestone marks the maximum energy the unit is licensed to produce in the reactor core and is the first time the unit has reached its expected output of approximately 1,100 electric MW, which can power an estimated 500,000 homes and businesses.

“Unit 3 is currently undergoing testing through the full range of plant operations, including safely running at various power levels and operating through real-life conditions just as it will over the next 60 to 80 years after the unit enters commercial operation,” said Kim Greene, chairman, president and CEO of Georgia Power. “As we enter the final stages of startup testing, reaching 100 percent power for the first time is an exciting milestone. It tells us we’re close to finishing the unit safely and bringing it online to power Georgia homes and businesses with reliable, emissions-free energy for decades to come.”

In alignment with the testing performed throughout power ascension, testing at the 100 percent power level is focused on the operation of the reactor, plant control systems for the reactor and support systems, and integrated plant operations. Plant performance is monitored at various conditions and data is gathered and evaluated by site engineers. With the unit reaching full power for the first time, other tests must be performed at this power level before the unit is available for reliable dispatch in accordance with its combined operating license.

Once all startup testing is successfully completed and the unit is available for reliable dispatch, Vogtle Unit 3 will enter commercial operation. Unit 3 is projected to be placed in service during June 2023.

Other Recent Milestones Across Vogtle 3 & 4:

• Receipt of Nuclear Fuel (Unit 4) – Vogtle Unit 4 began receiving nuclear fuel this month. A total of 157 fuel assemblies necessary for the safe and reliable startup of Unit 4 are currently arriving by truck in shipping cannisters designed to transport non-irradiated uranium fuel assemblies. Once delivered, assemblies are removed from the cannisters, one-by-one, and lifted into the fuel handling area, where they are inspected and safely stored in a fuel vault prior to fuel load, which is projected to occur later this year.
• Completion of Hot Functional Testing (Unit 4) – Hot functional testing for Unit 4 was completed on May 1, 2022. Read more.
• Synchronization to the Grid (Unit 3) – In April, Vogtle Unit 3 generated electricity for the first time, and successfully synchronized and connected to the electric grid. Read more.
• Initial Criticality (Unit 3) – In March, for the first time, operators safely started the nuclear reaction inside the reactor, resulting in atoms being split and nuclear heat being produced, which is used to produce steam. Read more.

The new Vogtle units are an essential part of Georgia Power’s commitment to delivering clean, safe, reliable and affordable energy to its 2.7 million customers. Once operating, the two new units will be clean energy sources that produce zero emissions. Southern Nuclear will operate the new units on behalf of the co-owners: Georgia Power, Oglethorpe Power, MEAG Power and Dalton Utilities.

About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America’s premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company’s promise to 2.7 million customers in all but four of Georgia’s 159 counties. Committed to delivering clean, safe, reliable and affordable energy, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the company is recognized by J.D. Power as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).

Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning future operations of and the projected in-service date for Plant Vogtle Units 3 and the projected fuel load timing for Unit 4. Georgia Power cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power’s Annual Report on Form 10-K for the year ended December 31, 2022, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the potential effects of the continued COVID-19 pandemic; the ability to control costs and avoid cost and schedule overruns during the development, construction, and operation of facilities or other projects, including Plant Vogtle Units 3 and 4, which includes components based on new technology that only within the last few years began initial operation in the global nuclear industry at this scale, due to current and/or future challenges which include, but are not limited to, changes in labor costs, availability and productivity, challenges with the management of contractors or vendors, subcontractor performance, adverse weather conditions, shortages, delays, increased costs, or inconsistent quality of equipment, materials, and labor, contractor or supplier delay, the impacts of inflation, delays due to judicial or regulatory action, nonperformance under construction, operating, or other agreements, operational readiness, including specialized operator training and required site safety programs, engineering or design problems or any remediation related thereto, design and other licensing-based compliance matters, including, for Plant Vogtle Unit 4, inspections and the timely submittal by Southern Nuclear of the Inspections, Tests, Analyses, and Acceptance Criteria documentation and the related investigations, reviews and approvals by the NRC necessary to support NRC authorization to load fuel, challenges with start-up activities, including major equipment failure, or system integration, and/or operational performance, continued challenges related to the COVID-19 pandemic or future pandemic health events, continued public and policymaker support for projects, environmental and geological conditions, delays or increased costs to interconnect facilities to transmission grids, and increased financing costs as a result of changes in market interest rates or as a result of project delays; the ability to overcome or mitigate the current challenges at Plant Vogtle Units 3 and 4 that could further impact the cost and schedule for the project; legal proceedings and regulatory approvals and actions related to construction projects, such as Plant Vogtle Units 3 and 4, including Public Service Commission approvals and NRC actions; under certain specified circumstances, a decision by holders of more than 10% of the ownership interests of Plant Vogtle Units 3 and 4 not to proceed with construction; the notices of tender by Oglethorpe Power Corporation and the City of Dalton of a portion of their ownership interests in Plant Vogtle Units 3 and 4 to Georgia Power, including related litigation; the ability to construct facilities in accordance with the requirements of permits and licenses (including satisfaction of NRC requirements), to satisfy any environmental performance standards and the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; the inherent risks involved in operating and constructing nuclear generating facilities; the ability of counterparties of Georgia Power to make payments as and when due and to perform as required; the direct or indirect effect on Georgia Power’s business resulting from cyber intrusion or physical attack and the threat of cyber and physical attacks; catastrophic events such as fires, earthquakes, explosions, floods, tornadoes, hurricanes and other storms, droughts, pandemic health events, political unrest, wars or other similar occurrences; and the direct or indirect effects on Georgia Power’s business resulting from incidents affecting the U.S. electric grid or operation of generating or storage resources. Georgia Power expressly disclaims any obligation to update any forward–looking information.

SOURCE Georgia Power

Guidewire Software, Inc (GWRE Quick QuoteGWRE – Free Report) is slated to report third-quarter fiscal 2023 results on Jun 1.

Management expects revenues in the range of $211-$216 million. The Zacks Consensus Estimate is pegged at $214.1 million, suggesting an 8.4% increase from the prior-year quarter’s reported level.

The consensus estimate is pegged at a loss of 13 cents per share, unchanged in the past 30 days. GWRE incurred a loss of 26 cents in the year-ago reported quarter.

Factors Likely to Have Influenced Q3 Performance

Guidewire’s performance is likely to have gained from higher demand for cloud-based insurance software solutions. The company has been witnessing strong demand from Tier 1 and Tier 2 insurers for its cloud platform.

Driven by new sales and deal ramps, annual recurring revenues (ARR) were $707 million as of Jan 31, up 14% on a reported basis and 17% on constant currency basis, respectively, year over year. Management expects ARR to be between $715 million and $720 million for the quarter to be reported.

A solid uptick in multiple components of Guidewire’s InsurancePlatform, including InsuranceSuite, digital, data and analytics, is anticipated to have acted as a tailwind. Healthy adoption witnessed in subscription-based InsuranceSuite Cloud offerings is expected to have contributed to subscription and supported revenues in the to-be-reported quarter. Also, the migration activity for InsuranceSuite Cloud is likely to have favored the company’s top-line performance.

Continued momentum in data and analytics offerings is likely to have acted as a key growth factor. Synergies from the buyout of HazardHub are likely to have contributed to this segment’s performance.

HazardHub provides extensive national coverage for risks that destroy and damage property. The addition of HazardHub is likely to have bolstered Guidewire’s portfolio, expanding the company’s presence in the P&C market.

Weakness in global macroeconomic conditions is compelling spending cutbacks especially for mid and small-scale businesses, and is likely to have acted as a headwind. Increasing investments on product enhancements are expected are likely to have put pressure on margin expansion in fiscal third quarter.

What Our Model Says

According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.

Guidewire has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are some stocks that you may consider as our model shows that these have the right combination of elements to beat on earnings this season.

Macy’s (M Quick QuoteM – Free Report) has an Earnings ESP of +2.81% and presently carries a Zacks Rank #3. M is scheduled to release quarterly numbers on Jun 1. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for M’s to-be-reported quarter’s earnings is pegged at 46 cents per share. The consensus estimate is pegged at $5.11 billion for revenues. The stock has lost 38.8% in the past year.

Zscaler (ZS Quick QuoteZS – Free Report) has an Earnings ESP of +4.47% and currently carries a Zacks Rank #3. ZS will release quarterly numbers on Jun 1.

The Zacks Consensus Estimate for ZS’ to-be-reported quarter’s earnings is pegged at 42 cents per share. For revenues, the consensus estimate is pegged at $410.7 million. The stock has declined 18.4% in the past year.

Lululemon Athletica (LULU Quick QuoteLULU – Free Report) has an Earnings ESP of +0.24% and carries a Zacks Rank #3, at present. LULU is slated to release quarterly numbers on Jun

The Zacks Consensus Estimate is pegged at earnings of $1.97 per share. The consensus estimate for revenues is pegged at $1.92 billion. The stock has gained 15.9% in the past year.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

NioCorp Partnering with Nanoscale Powders LLC to Explore the Possibility of Establishing the First US-Based Mine-to-Master-Alloy Vertically Integrated Production of the High-Performance Material

NioCorp’s Potential Commercial Production of Al-Sc Master Alloy Could Launch Prior to the Company’s Planned Production of >100 Tonnes/Year of Scandium Oxide at its Proposed Elk Creek Critical Minerals Project in Nebraska and Would Use Scandium Produced at the Elk Creek Facility as well as From Other Sources

China Now Dominates the Scandium World, but North America is Now Positioned to Emerge as a “Leading Scandium Producer,” says NioCorp CEO

CENTENNIAL, CO / ACCESSWIRE / May 29, 2023 / NioCorp Developments Ltd. (“NioCorp” or the “Company“) (NASDAQ:NB)(TSX:NB) today announced its intent to launch a phased approach to commercial-scale production of aluminum-scandium (“Al-Sc“) master alloy in the US for commercial and defense applications. Coupled with the Company’s intended plans to produce more than 100 tonnes per year of scandium oxide from its proposed Elk Creek Critical Minerals Project (the “Elk Creek Project“) in southeast Nebraska, and depending upon the results of the Al-Sc master alloy initiative, receipt of necessary funding and other factors, the initiative could establish the US as a leading producer of scandium, according to NioCorp CEO and Executive Chairman Mark A Smith.

Under an exclusive agreement with Boston-based Nanoscale Powders LLC (“Nanoscale“) the initial work is expected to result in the production of several ingots of Al-Sc master alloy at potentially commercial amounts of scandium content using a proprietary process developed by Nanoscale that increases efficiency and reduces environmental impacts of Al-Sc production over traditional approaches.

The addition of scandium to aluminum alloys produces a much stronger alloy that reduces weight, improves corrosion resistance, and allows for reliable welding operations. Al-Sc alloy has large emerging applications in automotive and mass transit systems, commercial aviation, space, and defense markets. The traditional method of introducing scandium into Al-Sc alloys is via a master alloy containing 98% aluminum and 2% scandium. NioCorp’s and Nanoscale’s goal is to demonstrate the ability to make Al-Sc master alloy containing up to 5% scandium.

NioCorp and Nanoscale plan to first demonstrate Nanocale’s technology at pilot scale using purchased scandium feedstock. If proven to be technologically and economically feasibile, the goal would be to ramp up commercial production of Al-Sc master alloy prior to the Company’s production of scandium oxide at its planned Elk Creek Project once sufficient financing is obtained to allow the Al-Sc master alloy initiative and the Elk Creek Project to proceed to commercial operation. NioCorp believes that providing commercial and defense markets with Al-Sc master alloy will stimulate increased consumption of scandium, which has long been constrained by a lack of supply outside of China.

“Scandium is a game-changer for electric vehicles, mass transit systems, aerospace and defense platforms, and a host of other technologies needed to reduce the carbon intensity of our economy and our world,” said Mark A. Smith, CEO and Executive Chairman of NioCorp. “With existing and highly regarded producers such as Rio Tinto, NioCorp’s plans to produce more than 100 tonnes per year of scandium oxide and vertically integrating from the mine to the master alloy could enable North America to become a leading scandium producer. I look forward to seeing this initiative move forward and to putting Nebraska and the US in a position of global leadership in the production of scandium and aluminum-scandium alloys.”

“In our view, the key to accelerated market uptake of scandium is to provide reliable supplies of Al-Sc master alloy, particularly in a vertically integrated fashion here in the US,” said Scott Honan, Chief Operating Officer of NioCorp. “We evaluated a range of options, and Nanoscale and its proven technology provided the most robust solution as we explore the possibility of producing Al-Sc master alloy.”

“We look forward to eventually establishing aluminum-scandium master alloy production in the U.S. with NioCorp and ramping up to commercial scale as rapidly as possible,” said Andrew Matheson, CEO and a co-founder of Nanoscale. “The growing recognition of scandium’s remarkable properties as an alloying agent with aluminum presents many exciting opportunities in both commercial and defense markets, and there clearly is strong latent demand for this material.”

# # #

FOR MORE INFORMATION:

Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected]

ABOUT NIOCORP

NioCorp is developing a critical minerals project in Southeast Nebraska that will produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy (“HSLA”) steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of Neodymium-Iron-Boron (“NdFeB”) magnets, which are used across a wide variety of defense and civilian applications.

ABOUT NANOSCALE POWDERS LLC

Nanoscale Powders LLC was founded in Boston in 2008 with an initial focus on energy materials, and particularly solar quality silicon (“polysilicon”) for solar electricity applications. Our first reactors produced low boron, low phosphorous, 99.9999% purity silicon metal from standard commercial chemicals. Through several subsequent generations of pilot plant design, we have evolved and broadened our technology, and today can offer a range of metal compositions based on our proprietary and patented processes. We are especially focused on titanium metal, alloys, and intermetallic powders. We have also demonstrated a broad range of refractory metals and alloys, including hafnium and nickel-based powders. In addition, we have produced silicon alloy powders for next-generation lithium ion anode development.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements may include, but are not limited to, statements about NioCorp’s expectation and ability to mine ore from the Elk Creek Project, NioCorp launching a phased approach to eventual commercial production of Al-Sc master alloy, the results of the Nanoscale technology at pilot scale and its impact on potential future production levels and efficiency, NioCorp’s plans to produce scandium oxide and Al-Sc master alloy and the anticipated production levels of same, market demand for scandium and scandium alloys, the US’ ability to emerge as a leading scandium producer, NioCorp’s ability to obtain sufficient project financing to launch construction of the Elk Creek Project and move it to commercial production, and NioCorp’s expectation and ability to produce niobium, scandium, and titanium at the Elk Creek Project. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the SEC and with the applicable Canadian securities regulatory authorities and the following: the success of the Nanoscale technology at pilot scale and its impact on NioCorp’s potential production of Al-Sc master alloy; NioCorp’s ability to recognize the anticipated benefits of the business combination with GX Acquisition Corp. II (the “Business Combination”) and the standby equity purchase agreement (the “Yorkville Equity Facility Financing Agreement” and, together with the Business Combination, the “Transactions”) with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP, including NioCorp’s ability to access the full amount of the expected net proceeds under the Yorkville Equity Facility Financing Agreement over the next three years; unexpected costs related to the Transactions; the outcome of any legal proceedings that may be instituted against NioCorp following closing of the Transactions; NioCorp’s ability to receive a final commitment of financing from the Export-Import Bank of the United States on the anticipated timeline, on acceptable terms, or at all; NioCorp’s ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; NioCorp’s ability to operate as a going concern; risks relating to NioCorp’s common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood any of the foregoing; NioCorp’s requirement of significant additional capital; the extent to which NioCorp’s level of indebtedness and/or the terms contained in agreements governing NioCorp’s indebtedness or the Yorkville Equity Facility Financing Agreement may impair NioCorp’s ability to obtain additional financing; covenants contained in agreements with NioCorp’s secured creditors that may affect its assets; NioCorp’s limited operating history; NioCorp’s history of losses; the restatement of NioCorp’s consolidated financial statements as of and for the fiscal years ended June 30, 2022 and 2021 and the interim periods ended September 30, 2021, December 31, 2021, March 31, 2022, September 30, 2022, and December 31, 2022 and the impact of such restatement on NioCorp’s future financial statements and other financial measures; the material weakness in NioCorp’s internal control over financial reporting, NioCorp’s efforts to remediate such material weakness and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the “Code”); the potential that the Transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp’s exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp’s information technology systems, including those related to cybersecurity; equipment and supply shortages; current and future off take agreements, joint ventures, and partnerships; NioCorp’s ability to attract qualified management; the effects of the COVID-19 pandemic or other global health crises on NioCorp’s business plans, financial condition and liquidity; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining industry; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp’s projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, or development activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp’s properties; potential future litigation; and NioCorp’s lack of insurance covering all of NioCorp’s operations.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

SOURCE: NioCorp Developments Ltd.

BENGALURU, May 29 (Reuters) – JioCinema, the streaming platform run by India’s Reliance Industries Ltd (RELI.NS), has signed a partnership with NBC Universal Media in a push to increase Hollywood content on the platform for Indian viewers, the companies said on Monday.

The multi-year deal will give JioCinema’s premium subscribers access to popular shows such as “Downton Abbey”, “Suits” and “The Office,” the companies said in a joint statement.

This comes after JioCinema signed a content streaming deal with Warner Bros Discovery Inc (WBD.O) in April for shows such as “Succession” and “Game of Thrones”.

JioCinema announced its premium pricing earlier this month, moving away from free content model to fight rivals like Netflix (NFLX.O) and Disney (DIS.N) in the content streaming space.

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