Month: September 2025

HOUSTON, Sept. 17, 2025 /PRNewswire/ — Nabors Energy Transition Corp. II (Nasdaq: NETD) (“NETD” or the “Company”) announced that its board of directors has elected to extend the date by which NETD has to consummate a business combination by one additional month from September 18, 2025 to October 18, 2025 (the “Extension”), as permitted under NETD’s second amended and restated memorandum and articles of association. The Extension provides NETD with additional time to complete its previously announced initial business combination with e2Companies LLC (“e2”).

In connection with the Extension, Nabors Lux 2 S.a.r.l. (“Nabors Lux“), an affiliate of Nabors Energy Transition Sponsor II LLC (the “Sponsor”), has deposited $250,000 (the “Extension Payment”) into NETD’s trust account for its public shareholders (the “Trust Account”), which enables NETD to effectuate the Extension. Nabors Lux loaned the Extension Payment to NETD through a non-interest-bearing loan. If NETD consummates an initial business combination, it will repay the loan out of the proceeds of the Trust Account or, at the option of the Sponsor, convert all or a portion of the loan into warrants for $1.00 per warrant, which warrants will be identical to the warrants issued by NETD in a private placement in connection with NETD’s initial public offering. If NETD does not consummate an initial business combination, it will repay the loan only from funds held outside of the Trust Account.

About Nabors Energy Transition Corp. II

NETD is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company focused its search for a target business on companies that identify solutions, opportunities, companies or technologies that focus on advancing the energy transition; specifically, ones that facilitate, improve or complement the reduction of carbon or greenhouse gas emissions while satisfying growing energy consumption across markets globally.

Important Information for Shareholders

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval.

In connection with the transactions contemplated by the Business Combination Agreement and Plan of Reorganization, dated February 11, 2025 (the “Transactions”), NETD and e2 will file with the Securities and Exchange Commission (the “SEC”) the Registration Statement on Form S-4 (the “Registration Statement”), which will include (i) a preliminary prospectus of NETD relating to the offer of securities to be issued in connection with the Transactions, (ii) a preliminary proxy statement of NETD to be distributed to holders of NETD’s capital shares in connection with NETD’s solicitation of proxies for vote by NETD’s shareholders with respect to the Transactions and other matters described in the Registration Statement and (iii) a consent solicitation statement of e2 to be distributed to unitholders of e2 in connection with e2’s solicitation for votes to approve the Transactions. NETD and e2 also plan to file other documents with the SEC regarding the Transactions. After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/consent solicitation statement/prospectus will be mailed to the shareholders of NETD and unitholders of e2. INVESTORS AND SECURITY HOLDERS OF NETD AND E2 ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/CONSENT SOLICITATION STATEMENT/PROSPECTUS CONTAINED THEREIN (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS RELATING TO THE TRANSACTIONS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTIONS.

Investors and security holders will be able to obtain free copies of the proxy statement/consent solicitation statement/prospectus and other documents containing important information about NETD and e2 once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. In addition, the documents filed by NETD may be obtained free of charge from NETD’s website at www.nabors-etcorp.com or by written request to NETD at 515 West Greens Road, Suite 1200, Houston, TX 77067.

Participants in the Solicitation

NETD, Nabors Industries Ltd., e2 and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of NETD in connection with the Transactions. Information about the directors and executive officers of NETD is set forth in NETD’s Annual Report on Form 10-K/A for the year ended December 31, 2024, filed with the SEC on April 2, 2025. To the extent that holdings of NETD’s securities have changed since the amounts printed in NETD’s Annual Report on Form 10-K/A for the year ended December 31, 2024, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/consent solicitation statement/prospectus and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described in the preceding paragraph.

Forward-Looking Statements

The information included herein and in any oral statements made in connection herewith include “forward-looking statements”. All statements, other than statements of present or historical fact included herein, regarding the Transactions, NETD’s and e2’s ability to consummate the Transactions, the benefits of the Transactions and NETD’s and e2’s future financial performance following the Transactions, as well as NETD’s and e2’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on NETD and e2 management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, NETD and e2 disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. NETD and e2 caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of NETD and e2. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability of the parties to successfully or timely consummate the Transactions or to satisfy the conditions to the closing of the Transactions, including satisfaction of the minimum proceeds condition and the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company; the risk that the approval of the shareholders of NETD for the Transactions is not obtained; the failure to realize the anticipated benefits of the Transactions, including as a result of a delay in consummating the Transactions or difficulty in, or costs associated with, integrating the businesses of NETD and e2; the amount of redemption requests made by NETD’s shareholders; the outcome of any current or future legal proceedings or regulatory investigations, including any that may be instituted against NETD or e2 following announcement of the Transactions; the occurrence of events that may give rise to a right of one or both of NETD and e2 to terminate the definitive agreements related to the Transactions; difficulties or delays in the development of e2’s business; the risks related to the rollout of e2’s business and the timing of expected business milestones; potential benefits and commercial attractiveness to its customers of e2’s products; the potential success of e2’s marketing and expansion strategies; the effects of competition on e2’s future business; the ability of e2 to convert its currently contracted revenues from new original equipment manufacturer sales and energy service agreements into actual revenue; the ability of e2 to recruit and retain key executives, employees and consultants; and the ability of e2 management to successfully manage a public company. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact NETD’s expectations can be found in NETD’s periodic filings with the SEC, including NETD’s Annual Report on Form 10-K/A filed with the SEC on April 2, 2025 and any subsequently filed Quarterly Reports on Form 10-Q. NETD’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

Investor Relations Contact

William C. Conroy, CFA
+1 281-775-2423
william.conroy@nabors-etcorp.com

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SOURCE Nabors Energy Transition Corp. II

AUSTIN, Texas, Sept. 17, 2025 /PRNewswire/ — MIDAS, a pioneer in immersion cooling for data centers, is partnering with Oleon, a trusted provider of sustainable, bio-based oleochemical products. Following extensive testing, Oleon’s Qloe™ fluids have been officially approved for use in MIDAS’ advanced plug-and-play immersion systems—marking a significant step forward in sustainable high-performance data-center cooling.

The collaboration arrives as AI, high performance computing (HPC), and crypto workloads drive unprecedented heat densities amid increasing energy and water constraints.

Together, MIDAS and Oleon will deliver efficient, sustainable cooling that meets both performance and environmental requirements.

Next-Generation Immersion Cooling

 MIDAS’ immersion systems are engineered for the extreme demands of modern workloads, delivering significant energy savings and space reduction with built-in redundancy for maximum reliability. This scalable, future-ready approach enables higher density with a smaller environmental footprint.

Oleon’s Qloe™ fluids complement these systems: derived from renewable plant-based sources, they are biodegradable, non-toxic, and environmentally responsible. With excellent dielectric strength, high thermal transfer, low viscosity, and high flash points, Qloe™ is ideal for safe, high-performance immersion cooling.

“Data centers shouldn’t have to choose between density and sustainability,” said Scott Sickmiller, CEO of MIDAS Immersion. “By combining MIDAS’s proven immersion platforms with Oleon’s Qloe™ fluid, customers gain reliable thermal headroom with renewable, biodegradable chemistry—ready for AI at scale.”

“The collaboration with Midas has been great,” said Maarten Trautmann, Data Center Fluids Lead at Oleon. “Midas has a long history of immersion cooling deployments and we’ve proven the compatibility of our systems, with a drive to sustainability and performance. I look forward to collaborating with Midas on a global scale.”

About MIDAS – MIDAS revolutionizes data-center cooling with plug-and-play immersion systems for AI, HPC, and crypto workloads—delivering energy and space savings, built-in redundancy, scalability, and sustainability backed by proven global deployments.

More information: https://midasimmersion.com/ | LinkedIn

About Oleon – Oleon specialises in the development and production of sustainable chemical solutions derived from natural, renewable resources. With a strong commitment to innovation and environmental stewardship, Oleon’s Qloe™ fluids represent the forefront of eco-friendly, high-performance dielectric cooling technology.

More information: www.oleon.com | Linkedin

For inquiries or a personalized demo, contact johng@midasgt.com

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SOURCE Midas Immersion Cooling

New fuel cell engineered to power city transit buses – lower cost, simplified vehicle integration, smarter fleet services, and enhanced safety

VANCOUVER, BC, Sept. 17, 2025 /PRNewswire/ – Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) will unveil its new-generation transit fuel cell module, the FCmove^®-SC, at Busworld in Brussels on 4–9 October 2025. Designed for city transit duty, the FCmove^®-SC builds on Ballard’s market-leading FCmove family to deliver greater sustained power, simplified vehicle integration, improved in-service performance and lower lifecycle cost as part of Ballard’s roadmap toward diesel parity.

“The FCmove^®-SC is the latest product on Ballard’s new core product platform which anchors broader advances targeting the industry’s core challenge: narrowing the gap in cost of ownership parity with legacy diesel systems,” said Kevin Colbow, Senior Vice President and Chief Technology Officer, Ballard. “The fuel cell design significantly reduces integration complexity for bus manufacturers while improving life-time cost and performance for transit operators.”

The FCmove^®-SC offers several enhancements for bus manufacturers and operators:

• 30% increase in system power (end-of-life) with improved durability, operating and freeze-start temperatures and higher power density.
• 25% increase in volumetric power density through integrated DC/DC packaging.
• 25% higher maximum radiator outlet temperature (60°C → 75°C), simplifying vehicle thermal management.
• 40% reduction in total part count.

Lower lifecycle cost, better performance
The FCmove^®-SC targets a peak power capability of at least 75 kW, optimized for consistent in-service output and higher thermal margins for improved efficiency. These attributes support smaller cooling requirements and provide more usable waste heat for cabin heating — all intended to reduce operating cost and enable competitive total cost of ownership versus legacy diesel systems. Efficient subsystems support an expected service life of approximately 25,000 operating hours under standard transit duty cycles. 

Simpler integration
By internalizing the DC/DC converter and power controller, the FCmove^®-SC consolidates functionality into a smaller, more serviceable package. Fewer external interfaces and routable parts simplify powertrain integration and reduce diagnostics and preventive maintenance requirements.

Intelligent services
Ballard is upgrading its fleet services to pair the FCmove^®-SC with predictive maintenance and analytics. Onboard communications and Ballard’s FCServiceCloud Customer Insight portal enables preventive and predictive maintenance workflows, helping operators maximize uptime and lower lifecycle support costs.

Enhanced safety
Enhanced safety is central to the FCmove^®-SC architecture which introduces industry-leading safety features. The PEM stack enclosure incorporates a new internal geometry that inhibits hydrogen-related risks. This passive safety measure reduces dependence on conventional active safety features such as sensors and software controls.

Proven field performance
The new FCmove^®-SC draws on Ballard’s extensive on-road experience. In Europe, Ballard has deployed more than 850 vehicles across cities on the continent. Ballard’s FCmove^®-HD module has been produced, scaled, and successfully operated over nearly a hundred million service kilometers. This market-leading operational base has informed FCmove^®-SC’s new design, architecture, and component subsystems resulting in lower total cost of ownership for transit operators.

“Our focus is to deliver practical, measurable steps that move fuel cell buses closer to diesel parity,” said David Mucciacciaro, Senior Vice President and Chief Commercial Officer. “We’re benefitting from the most operational experience in the bus segment and on insights from our long-standing customers, to deliver a solution that simplifies vehicle integration, reduces operating and maintenance costs – backed by services that keep fleets reliably on the road.”

Ballard will exhibit the FCmove^®-SC and other transit solutions in Hall 9, Stand 579 at Busworld at the Brussels Expo, 4–9 October. Demonstrations are by invitation; transit operators and OEMs interested in scheduling should contact Ballard’s marketing team.

About Ballard Power Systems

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells enable electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning anticipated performance, cost, serviceability, and other customer benefits of our products and services. These forward-looking statements reflect Ballard’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard’s assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard’s actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard’s future performance, please refer to Ballard’s most recent Annual Information Form. Readers should not place undue reliance on Ballard’s forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward-looking statements, other than as required under applicable legislation.

Further Information:

Sumit Kundu – Investor Relations +1.604.453.3517 or investors@ballard.com

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SOURCE Ballard Power Systems Inc.

Monumental Sept. 19–21 event at McCormick Place West celebrates women leading the skilled trades across North America

CHICAGO, Ill., Sept. 17, 2025 /PRNewswire/ – This weekend, 6,000 tradeswomen alongside top labor, government, and industry leaders from across North America, will gather at Chicago’s McCormick Place West, Sept. 19–21, for the 15th Annual Tradeswomen Build Nations (TWBN) Conference, the largest global event of its kind.

Hosted by TradesFutures in partnership with North America’s Building Trades Unions (NABTU), TWBN has become the largest annual gathering of unionized craft professionals in the world. The three-day conference celebrates and advances the growing movement of tradeswomen from across the United States and Canada. TWBN directly supports TradesFutures’ mission to expand nontraditional pathways into the skilled trades, opening doors for more women and individuals from all backgrounds to access and thrive in life-changing, family-sustaining careers.

This year’s theme, “She’s not waiting. She’s leading.”, reflects the bold leadership, resilience, and rising momentum of tradeswomen shaping the construction workforce as driving forces in the labor movement, on job sites, and in their communities. The conference will feature plenary sessions, skill-building workshops, dynamic panels, a banner parade, and high-impact networking opportunities designed to empower tradeswomen, elevate their impact, and advance the recruitment, retention, and leadership of women in the skilled trades.

“ Tradeswomen Build Nations is more than a conference; it’s a movement reshaping our entire industry,” said Sean McGarvey, Board Chairman of TradesFutures and President of NABTU. “Every year, the conference and its energy grow, and the experience is an unforgettable and inspiring sight to behold. This year’s theme, ‘She’s not waiting. She’s leading.’, reflects the reality we see on every job site. Tradeswomen aren’t waiting; they are leading this industry every day with skill, vision, and solidarity, and they are strengthening our unions, our workforce, and our communities every step of the way.”

“At TradesFutures, we’re seeing firsthand how women in our network of more than 270 Apprenticeship Readiness Programs and beyond are breaking barriers and transforming the skilled trades,” said Marina Zhavoronkova, Executive Director of TradesFutures. “TWBN is a vital platform to showcase that progress, celebrate tradeswomen’s achievements, strengthen the training pipeline, and inspire the next generation to see themselves in these careers and not only be prepared for tomorrow, but empowered to lead in construction today.”

TWBN 2025 will also highlight the continued expansion of the Infrastructure Generation, the historic labor force surge made possible by groundbreaking federal investments in infrastructure, clean energy, and domestic manufacturing. The conference will reaffirm our collective commitment to building an inclusive workforce, advancing equity, and protecting the gains of working people.

In the spirit of solidarity and service, this year’s TWBN conference will also support Connections for Abused Women and their Children (CAWC), a Chicago-based nonprofit committed to ending domestic violence. Donations made during the conference will go directly to CAWC’s critical programs and services, helping empower survivors and promote safe, healthy communities.

Conference Schedule:

• Friday, September 19:
• 5:30 – 7:00 PM | Opening Reception 
• Saturday, September 20:
• 8:00 – 10:30 AM | Morning Plenary Session featuring NABTU President Sean McGarvey; AFL-CIO President Liz Shuler; Catherine Hunt Ryan, Bechtel President of Manufacturing & Technology; Frank Christensen, General President of IUEC; Vicki O’Leary, Ironworkers International Director of Diversity and Chair of NABTU’s Tradeswomen Committee; and numerous testimonies from tradeswomen across North America
• 10:30 AM – 12:30 AM | Tradeswomen Banner Parade 
• 1:15 PM – 2:45 PM | Afternoon Breakout Sessions
• Sunday, September 21:
• 8:30 AM – 10:30 AM | Morning Plenary Session featuring Illinois Governor JB Pritzker; Phyllis Wilson, President of the National Military Women’s Memorial; Marina Zhavoronkova, Executive Director of TradesFutures; Boilermaker Cheyenne Gregory from TVA; and numerous testimonies from tradeswomen across North America
• 11:00 AM – 12:30 PM | Final Breakout Sessions

Credentialed press are permitted to attend TWBN plenary sessions and the banner parade only. Media representatives wishing to attend must RSVP to twbn@tradesfutures.org to request media credentials.

What: Tradeswomen Build Nations Conference, “She’s not waiting. She’s leading.”
Who: 6,000 unionized tradeswomen, industry stakeholders, top U.S. and Canadian labor and government leaders, and advocates.
When: Friday, September 19 – Sunday, September 21, 2025
Where: McCormick Place West, 2317 S Indiana Ave, Chicago, IL 60616 

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SOURCE TradesFutures