Energy Harbor Receives Independent Green Financing Rating

AKRON, Ohio, Oct. 23, 2022 /PRNewswire/ -- Energy Harbor Corp. announced today CICERO Shades of Green (CICERO Green), an internationally recognized leading provider of independent, research-based evaluations of green bond and sustainability financing frameworks, completed a second-party opinion on Energy Harbor's green bond framework and has issued a Medium Green shading on a scale of Light, Medium and Dark.  CICERO Green's assessment aligns with the International Capital Markets' Association's Green Bond Principles. 

Energy Harbor's green bond framework includes its existing $285 million Pollution Control Revenue Refunding Bonds, which were originally issued to finance construction of air, water and waste control facilities at its nuclear power plants.  The Medium Green rating from CICERO Green indicates the projects included in the Energy Harbor $285 million portfolio represent significant steps towards the long-term climate vision.

Earlier this year, Energy Harbor announced its plan to become a 100% carbon free infrastructure company in 2023.  The creation and grading of the Green Bond Framework reflects Energy Harbor's commitment to the critical role nuclear technology plays in creating a carbon free power sector by 2035 and addressing climate change.

"The Medium Green rating from CICERO Green is a first for Energy Harbor and reflects our focus on clean power infrastructure that produces electricity free of carbon emissions," said Tanya Rohauer, Energy Harbor Senior Vice President, Commercial Finance and Treasurer.

About Energy Harbor

Energy Harbor is a highly reliable provider of carbon free baseload electricity committed to Environmental, Social and Governance (ESG) principles critical to meeting the nation's emissions goals and accelerating the country's clean energy transition. Our success is driven by our unwavering employee commitment to safe, reliable operations, financial stability and best in class service to meet the energy and sustainability needs of our customers.

For more information on Energy Harbor visit www.energyharbor.com

Forward Looking Statements and Further Information

This press release contains "forward-looking statements."  All statements, other than statements of historical facts, that are included in this press release that address activities, events, or developments that Energy Harbor Corp. (the "Company") expects or anticipates to occur in the future (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely result," "are expected to," "could" and "will continue"), are forward-looking statements.  Although the Company believes that in making any such forward-looking statement its expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and is qualified in its entirety by reference to the discussion of risk factors under "Risk Factors" available on the Investor Website (as described below) and the following important factors, among others, that could cause the Company's actual results to differ materially from those projected in such forward-looking statements: the actions and decisions of regulatory authorities; economic conditions and power pricing within the Company's territories and markets; the Company's ability to accomplish or realize anticipated benefits from strategic and financial goals; the uncertainties associated with the deactivation of remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including with respect to the timing and amounts of the capital expenditures that may arise in connection with any such proceedings; changes in customers' demand for power; and weather conditions affecting future sales, margins and operations.

Any forward-looking statement included in this press release speaks only as of the date hereof, and except as may be required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.  New factors emerge from time to time, and it is not possible for the Company to predict all of them; nor can the Company assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.  As such, you should not rely on such forward-looking statements.

Further information regarding the Company will be available at www.energyharbor.com under the heading www.energyharbor.com/ir (the "Investor Website"). The Company advises that holders of the Company's securities should review all available information before making any decisions whether to buy or sell any of the Company's securities.  Any information in any materials posted on the Investor Website in the future will automatically update and, where applicable, modify or supersede the information contained in this press release and any other information previously posted on the Investor Website.

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SOURCE Energy Harbor