French-American Chamber of Commerce Texas - Magazine Fev2021

CHAMBER OF COMMERCE FRENCH-AMERICAN CHAMBER OF COMMERCE

CLIMATE OBJECTIVES:

Mike Graff, Chairman and CEO American Air Liquide Holdings, Inc.

200 200 members members

50 50 Events a year Events a year

10,000 10,000 event attendees/year event attendees/year

10 Business Services

Dear Members,

2020hasbeenachallengingyear Ourdailyliveshavechanged,oursoimportant community life has been dramatically reduced, the travel ban has limited our horizon,thebusinesshasbeenseverelyaffected,especiallyinHouston

We know how many of you have been impacted by the crisis It has been also a roadblock for the FACC Many of the new activities we wanted to launch in 2020 have been postponed But thanks to the creativity and the efforts of the team, we have adjusted to the new normal, fulfilling our mission to servicing you through virtual informative events and festive virtual gatherings like the French art-de-vivre Festival in November These events proved to be remarkably successfulthankstooursponsorsandyourcontinuedsupporttotheFACC

It has been one month that 2020 is over On behalf of the FACC Board of directorsandtheteam,Iwishyouallandyourlovedonesahappy,healthy,and prosperousnewyear

Itisalwaysboldtopredictthefuturebutthewaythevaccinecampaignisrolling out gives much hope about the end of the disastrous effects of the pandemic during2021 ManyFACCeventswillremaindigitalbuttheboardofDirectorsand theFACCteamwishtoresumein-personeventsassoonaspossible Westrongly hope the sanitary conditions at fall time will allow us to hold a gala and gather all together for a new edition of the French festival And we will take any opportunity to help growing the vibrant French American business community andeasingnetworkingandconnections

This new issue features members of our community whose outstanding leadership inspires optimism Leaders of small and medium companies facing the 2020 challenges, developing new projects It also presents an interview of Mike Graff, our keynote speaker for our General Assembly, sharing Air Liquide’s ambitiousgoalstowardenvironmentalsustainability

HappyNewYear2021!

Tousmesmeilleursvœuxdebonheuretdesuccèspourlanouvelleannée!

Sincerely,

Franck Avice President, FACC Houston

CLIMATE OBJECTIVES

Mike Graff Chairman & Chief Executive Officer, American Air Liquide Holdings, Inc. Executive Vice President & Executive Committee Member, Air Liquide Group

Mike Graff has led Air Liquide through the evolution of the energy transition in the U S Air Liquide is a contributor to the U S McKinsey Study, "Road Map to a U.S. Hydrogen Economy," showing how critically important hydrogen is to achieve a lower-carbon energy mix that can also help strengthen the U.S. clean energy economy by 2030.

We were very proud to have Mike Graff as our keynote speaker for our General Assembly 2020, and he was very kind to answer a few more questions about the group's climate objectives

Air Liquide has always shown a strong commitment to sustainability - how have your sustainabilitygoalschangedovertheyears?

At Air Liquide, sustainability has always been part of our DNA Our focus and commitment have evolved from an internal corporate sustainability program to our industry-leading climate objectives, released in November 2018, which are nowfoundationaltoallfutureAirLiquideprojects anddecisions

Since the release of our climate objectives two yearsago,theyhaveservedasatestamenttoour commitment to a brighter future, and also as a modelforourpeersandcustomersinourindustry andsociety Ithasbeenagreatprivilegetowatch as others have taken on the mantle of sustainability and continue to progress the conversation forward Of course, as the world continuestoevolve,sotoodoesoursustainability philosophy at Air Liquide, and we look forward to usingour2018goalsasthebaselineforourfuture ambitions

Air Liquide Climate Objectives

Reduce by 30% our carbon intensity (KG CO2/ € EBITDA) by 2025, based on our 2015 emission levels.

1 2 3.

This reduction in emissions relies on: increasing by nearly 70% its purchase of renewable electricity improving the energy efficiency of production units and, reducing by 10% the carbon footprint of its products through production and transportation optimization.

How do you see sustainability and innovation interactingwithinAirLiquide?

We know that sustainability and innovation go hand-inhand, which is why our R&D activities across five innovation campuses in Europe, Asia and the U.S. further illustrateourcommitmenttodevelopingtechnologiesand applications tailored for a more sustainable world. Our researchanddevelopmentportfolioisdiverse,withmore thanhalfoftheprojectsfocusedonenergytransitionand climate change and the rest addressing the needs of an aging and increasingly urban population, as well as society’sdigitaltransformation.

Can you share a few examples of innovative and sustainabletechnologiesAirLiquideisworkingon?

A few examples of sustainable projects that we are working on at our Delaware campus include the developmentoftheenvironmentally-friendlyEnScribegas rangetomeetthesemiconductorneedsoftheelectronics industryaswellasthedevelopmentoftheDOE-supported coldmembraneCO2captureprocess.

This process was recently awarded the Solar Impulse Foundation’sEfficientSolutionsealfortheinnovativeuse of Air Liquide’s hollow fiber membranes to separate carbon dioxide from the flue gas of an industrial process suchasapowerplantorhydrogenplant.

How do you incorporate your climate objectives into yourday-to-dayoperations?

In practice, Air Liquide incorporates these overarching goals into everyday decisions by helping our customers reduce their CO2 emissions, by promoting new technologies for clean transportation, by upgrading its plants for energy efficiency and by purchasing renewable energy. A recent example is the power purchase agreementof50MWofrenewablewindelectricitythatwill power a large portion of our industrial operations in the GulfCoastregion.Producingcleanmeansnotjustdriving efficiencyandavoidingemissionsbutchoosingtocommit tolow-carbonenergyprojects,likerenewablewindenergy andlow-carbonhydrogenproduction.Lastly,buyingclean requires that Air Liquide improve its supply chain, while also acting on opportunities to self-produce its own energyneeds.Collaboratingwithpioneeringcompaniesin the sustainability arena is a good example of leveraging strategic partnerships, while Air Liquide gains more experience in emerging technologies such as biogas and renewablehydrogen.

Whatdoyouseeastheroleofhydrogenintheenergy transition?

AtAirLiquide,wearealsoleadingthewayfortheenergy transitionasafoundingmemberoftheHydrogenCouncil. Our strong belief in hydrogen as a driver of the energy transition is supported by our investment of over 200 million US dollars to build a liquid hydrogen plant and logisticsinfrastructureinNevadathatwillhaveacapacity of nearly 30 tons of hydrogen per day an amount that can fuel 35,000 Hydrogen Fuel Cell Electric Vehicles (FCEVs). Through this investment, and our investment in retail hydrogen fueling infrastructure, Air Liquide will enable the large-scale deployment of hydrogen mobility on the west coast, providing a reliable supply solution to fuel the thousands of Hydrogen FCEVs expected to be deployedinthestateofCaliforniaby2022

Thisliquidhydrogenplantwillalsosupportotherfuelcell markets in the region, such as material handling, forklifts and heavy-duty trucks Furthermore, in Becancour, Canada,AirLiquideisbuildingtheworld’slargestprotonexchange membrane electrolyzer, with a 20 megawatts (MW)capacity,fortheproductionofcarbon-freehydrogen usinghydroelectricity

When it comes to sustainability, and the future of our environment , people and communities, at Air Liquide we believe in our ability to lead and in the responsibility to act

HowdoesallthisfittogetherforAirLiquideasaleader intheenergytransitionandinourcommunity?

While the climate objectives are essential, the ultimate goal of sustainability is an improved quality of life for all people -- our employees, our customers, our neighbors andourchildren.

Becauseofthis,AirLiquidestrivestoreinforcecommunity engagement as a part of our sustainability program. EngagementmeansleveragingtheAirLiquideFoundation, an organization which invests in people, innovation and communities around the world to better society, with a focusoneducation,healthandtheenvironment

Perhaps most importantly, engagement at Air Liquide means supporting meaningful connections within the communitiesinwhichweoperate,whetherit’shelpingto ensure safe environments around our plants or volunteering to support nonprofit organizations and matchingemployeecontributionstolocalcauses Whenit comes to sustainability, and the future of our environment, people and communities, at Air Liquide we believeinourabilitytoleadandintheresponsibilitytoact

HOW GTT NORTH AMERICA IS SHIFTING TO GREENER

INTERVIEWWITHAZIZBAMIK GENERALMANAGERGTTNA

Engineer by education, Aziz joined GTT in 1999, and has served as General Manager of GTT NA since its creation in 2013.

Before assuming this position, he occupied various roles at the headquarters in France, including R&D Engineer, Project Manager, and Director of Business Development.

He was awarded the U.S. Coast Guard Meritorious Public Service Award in 2017, and he is a French Foreign Trade Advisor for the French Government since 2018

We met Aziz when he took over his new role as the first General Manager at GTT North America in 2013

Today, we're happy to discuss with him about the company's evolution in the U S market, and understand how GTT North America contributes to a more sustainable world thanks to the development of new greener technologies integrated into the shipping industry.

The company is committed to propose technologies for a sustainable world, and acquired last October 2020 Areva H2Gen, a French company leader in PEM electrolysis

SHIPPING SOLUTIONS?

In the last French Business show early January 2021, your deputy CEO Eric Dehouck mentioned that GTT has diversified its core activities (LNG transport) into LNG as marine fuel, smart shipping and hydrogen, and will be creating 110 new positions to be filled in 2021 in France and also internationally. As the General Manager North America, can you tell us on which activity you focus the most?

The desire to always be at the forefront of technology, as well as the development of the GTT group and its diversification (smart shipping, hydrogen, LNG as marine Fuel), means that GTT is always on the lookout for new talent In 2021, it is planned to recruit 110 positions with a mix of junior and senior profiles GTT NA already anticipated this growth and one Procurement Specialist and a Senior Business Development Manager joined the Houston team beginning of 2020.

With the Jones Act in the U.S., are you facing some particular challenges for U.S. projects that you are not facing for projects located elsewhere? Especially with the main Shipyard and suppliers being located in Asia (Korea or China mainly)?

It is true that the U.S. Jones requirement creates a very specific environment for the construction and operations of ships in the US. Factually, a vessel built in US shipyards costs much more and takes longer to build than in Asian shipyards. Regardless of whether it is a conventional or LNG related vessel. This is not caused by the Jones Act itself, but is more attributable to factors affecting US shipyards, such as higher labor costs, lower productivity and limited availability of large-scale project management. Additionally, most US shipyards do not have inhouse engineering capabilities and usually outsource the design of the vessel. The net result of all these considerations is that US shipyards find it difficult to compete with Asian shipyards for international trading vessels, and therefore their market size is mainly limited to US Jones Act related vessels.

ClimateObjectives

When it comes to LNG, the market size is even more limited. With the abundance of gas and LNG in the U.S., the domestic requirements for shipping are limited to areas where pipeline infrastructure is not viable. If you add the seasonality aspect, it is difficult to justify the investment in US Jones Act LNG carriers.

In the LNG as marine fuel market, there have been four Dual Fuel container vessels built to trade within the U.S. and two additional are under construction. To support those operations and potentially the operations of an increasing number of foreign-flag LNG fueled vessels visiting US ports, we see a potential for more and more LNG bunkering in the country.

We have anticipated those needs and have established an industrial partnership with CONRAD shipyard in 2015 to help in the design and construction of the first-ever LNG bunkering barge in the U.S., the Clean Jacksonville. With a capacity of 2,200 m3, she provides, in the home port of Jacksonville, a barge-to-ship LNG bunkering service to the world’s first LNG fueled containerships, TOTE Maritime Puerto Rico’s Marlin Class Isla Bella and Perla Del Caribe. Both ships trade between Jacksonville, Florida and San Juan, Puerto Rico, a route which surprisingly requires compliance with the Jones Act.

In addition, as we speak, we are finalizing a program to develop a new generation of LNG bunkering barge. Leveraging our first experience, the objective of the program is to develop a fabrication strategy that will enhance the efficiency of the design, procurement and construction process, providing a very attractive CAPEX and reducing risks for schedule and cost over-runs. This is the only way to make it happen in the U.S. We plan to share our value proposal with US Shipowners, charterers and shipyards

How do you see the hydrogen market in the U.S. at the moment? Have you identified any other green energy/fuel that could be a good alternative to LNG in the future?

The company is committed to propose technologies for a sustainable world, and acquired last October 2020 Areva H2Gen, a French company leader in PEM electrolysis Specialized in the conception and assembly of electrolysers for the production of green hydrogen, Areva H2Gen is using Proton

Exchange Membrane (PEM) technology and is the only company to manufacture electrolysers in France. So, we are starting our roadmap for hydrogen, which is close to LNG. It is indeed a gas which can be liquefied and whose storage must be managed. Many of the technical skills already mastered at GTT can be applied to the hydrogen sector.

You recently acquired the Icelandic company Marorka, an expert in Smart Shipping. This is the second company specialized in this area that GTT acquired after Ascenz (75% of the capital acquired in 2017). Does GTT see smart shipping as one of the main topics to focus on in the coming years? How is GTT NA involved in the smart shipping and support the work of GTT headquarters and of these newly acquired companies?

With the improved energy efficiency goal in mind, GTT has acquired several well established companies to enhance its digital value proposal: ASCENZ (Singapore), MARORKA (Iceland) and very recently OSE Engineering (France). In addition to GTT core competences in cryogenic gas fields, our group is now in a position to propose a comprehensive “Smart Shipping Solution”, fully integrated into one single platform, reducing emissions and energy consumption.

We believe digitalization will represent a gamechanger for the shipping industry. Environmentally friendly measures are effective and widely adopted when aligned with economic performance. There is a need for practical Smart Shipping solutions in order to help the maritime industry achieve these two goals (environmental and economic performance) by getting the best performance out of their assets.

Significant reduction of fuel consumption is possible by operational performance management. Digitalization provides transparent tools to report the effort made to reduce cost and emissions and align stakeholders' interests to achieve these objectives. Global challenges will not be tackled if every company is acting on its own. GTT NA is involved in several initiatives where our Digital entities collaborate closely with US-based charterers and international owners in order to achieve their digital transformation

Project highlightHawaii

GTT NA awarded the Red Hill Bulk Military Fuel Storage in Honolulu

To demonstrate how GTT sees its role as a technology company, beyond its traditional core business, the contract award last September 2020 from the U.S. Department of Defense to GTT NA for the Red Hill Bulk Fuel Storage Facility is a very relevant example.

This is a military fuel storage facility located near Honolulu, Hawaii, featuring 20 steel-lined underground storage tanks with a total capacity up to 250 million gallons connected to fuelling piers at Pearl Harbor.

GTT engineers, by using the company’s expertise in advanced tank containment system technologies, are currently developing a solution based on a continuously monitored membrane barrier system that will extend the useful life of the tanks, originally built in the 1940’s. This is critical for the sustainable preservation of Hawaii’s groundwater resources.

ABOUTGTT

GTT is a global technology and engineering company with more than 55 years of experience in the design of cryogenic membranecontainmentsystems,dedicatedtothetransportandstorageofliquefiedgases,inparticularLNG

Withalmost500highlyqualifiedpeoplemostlyengineersandPHDspresentworldwide,ourmissionistoconceivecuttingedgetechnologicalsolutionsforanimprovedenergyefficiency

IMOregulationsregardingGreenhouseGas(GHG)reductionhaveresultedinthedevelopmentoftechnicalandoperational measuresforshipsenergyefficiencymanagement GTThasanticipatedtheshifttowardsgreenershipping Thecompany has expanded its offerings for this new and promising market, providing customized technological and engineering solutions for small and mid-scale vessels, as well as new applications for the LNG market, such as the use of LNG as a propulsionfuelandtheassociatedlogisticschain(bunkering) Thecompanyoffershighlycompetitivestorageandhandling solutions,whichcoverthewholelogisticschain,fromtheLNGliquefactionterminalinaproducercountrytothetankofan LNG-fuelledship

GTTNORTHAMERICAiswhollysubsidiaryofGTTSA

ERICA LASDON'S ANALYSIS ABOUT

BY ERICA LASDON, SENIOR CONSULTANT, GLOBAL AFFAIRS ASSOCIATES, LLC

GlobalAffairsAssociatesjoinedtheFACCHoustonin2020,bringingitsexpertiseon financingsustainabilitystrategies.TheFACChostedawebinargatheringsomeof thebestexpertsfromournetwork OnJanuary27th,wewereluckytohaveErica Lasdonasaspeaker,discussingwithprominentpanelistswithCreditAgricoleand NRJ.Ifyoumissedthesession,itistimetocatchupwithErica'soverviewofthe trendsinESGcorporatestrategyandenergytransition

It can be hard to track the larger picture of the climate crisis and translate it into practical business strategies and actions.

Climate change is inherently gradual and difficult to observe, but the challenge requires decisive and significant action. As we enter 2021, it is a good time to look at the trends in corporate strategy, investment sentiment, and regulatoryactionthatwilldriveenergytransitionaction.

AccordingtoBloombergNEF,globalinvestmentindecarbonizationwas$501.3Bin2020,morethandoublethe2010 level. This has broad implications for corporate, investor, and governmental strategy. Looking ahead to 2021, International Energy Agency head Fatih Birol expects “no country, no oil- or gas-producing government, no companies”willbeunaffectedbytheenergytransition.

Deloittemakesmorespecificobservationsaboutwhattoexpectatthecorporatelevelin2021--strongelectrification trends in transportation, industrial, and even the oil and gas sector. Combined with increasing renewable energy demand,thisconvergencemaygiverisetonewbusinessmodelsandfurtheradvancetheenergytransition.

ENERGY FINANC DS

ontinuetobepressedtomitigatecarbonemissionswithconcreteandcredibleplanstoreducefuture e aspect that may face increased scrutiny are “negative emissions” projects that many corporate p corporatedinadditiontoreducingoperationalcarbonemissions.Investmentsinprojectsthatremove carbonfromtheairhavegrownquickly,butthereareindicationsthatfinancinginthisareamayalreadybeoutstripping capacityforusefuldevelopment.

Investor action will continue to drive corporate action, pushing disclosureandmanagementchangesthroughgrowinginitiatives liketheNetZeroAlliance,theTransitionPathwayInitiative,and others There is also increasing focus on the investment choices companies in this industry make A recent study found that the equity holdings of the 30 largest global asset management groups were not Paris-aligned. In other words, they are overweight in companies deploying brown technologies and underweight in those deploying green technologies in key sectors:autos,oil&gasproduction,coalproduction,andelectric power.

LeadingESGinvestmentproviderMSCIprovidesausefulbottomline assessment of investment horizon: “Barring dramatic policy and technological breakthroughs and corporate action, the availability of Paris-aligned investment opportunities will become increasingly limited with each passing year as the required reductions to reach net-zero emissions grow ever deeper. In response, investors may demand a radical transformation of business models or look more creatively beyond the existing investment opportunities to align their portfolioswithParis”

Regulatorydriversarealsoconvergingandarelikelytoplayamuchlargerroleinfinancingtheenergytransition.Globally, the2015ParisAgreementstartedtheclockonglobalcommitments,withcountriescommittingtolimitglobalwarmingto 2°C. However, the current commitments under the Paris agreement would lead us to 3°C warming. To address this gap, countriesareincreasinglymakingcommitmentstobenet-zerocarbonby2050 Thismoreaggressiveapproachwillscale updirectregulationandindirectactionsthatwillfurtherdrivemarketaction

IntheUnitedStates,itappearsthatthenewBidenAdministrationwillnotsimplybearebootofObama-erapolicies Infour years,thegoalpostshaveshiftedforward,drivenasmuchbybusiness,investment,andeconomicrecognitionofclimate urgency as by activism All signs point towards a more aggressive push in areas such as corporate disclosure and accountingforthecostofcarboninkeyeconomictools

Businessesofallshapesandsizescanaddressthesechallengesbyfindingwaystomitigatetherisksandhelpcontributeto strategicsolutions.

Countries are increasingly making commitments to be net-zero carbon by 2050.

This more aggressive approach will scale up direct regulation and indirect actions that will further drive market action.

GEOSTOCK SANDIA

The FACC Houston is thrilled to welcome Geostock Sandia, a subsidiary of Vinci Group. Evolving in the niche business of underground gas storage, Richard Stewart, CEO of Geostock Sandia, took the time to answer our questions. He also shared his thoughts about greener underground storage solutions.

INTERVIEW WITH RICHARD STEWART,

CEO & PRESIDENT

What is Geostock Sandia’s vision regarding the energy transition?

Theenergytransitionisacceleratingbuthasasubstantial installedbasetoovercome.Over$500billionwasinvested intheenergytransitionworldwidein2020,butonly11%of energy consumption is currently met through renewables suchassolar,windandbiofuels. Electriccarsalesgrewin

2020 to more than 3 million, but only 10 million electric cars are currently in operation, about 0.1% of the billion cars worldwide. Geostock Sandia (GKS) is an active participant in the energy transition, but this will take decadestoachieve.

Geostock Sandia is an engineering services company specializing in underground storage from well design to operation and maintenance. In terms of environmental responsibility, what techniques or solutions does GKS plan to implement here in the Americas?

GKS is entrusted by many clients to perform annual Mechanical Integrity Tests (MITs) to ensure the safe operationofundergroundstorage GKSalsohasextensive experience in permitting and environmental regulations concerning all classes of wells and storage We strive to ensure all projects we implement are safe and environmentally sound We also support clients in implementing the expanded storage management rules (API1170and1171)recentlyenactedbytheDepartmentof Transportation.

DoestheGroupinvestinR&Dtoimprovegastechnique storage with a lower carbon footprint? If so, can you shareanexamplewithus?

GKS is a leader in the design and construction of underground carbon dioxide sequestration projects, having completed more than twenty projects during the pastfifteenyears.

After receiving an undergraduate degree in Physics,Richardspenthisearlycareerworking for United Technologies developing control systemsforrocketandjetengines

After completing a Master’s in Electrical Engineering, he left the aerospace industry to obtainanMBAatNorthwesternUniversity

He spent the next twenty years in the oil and gas industry, directing engineering and constructionformajorpetroleumcorporations, before assuming the role of CEO at Geostock Sandia. When not in Houston, Richard can usually be found hard at work restoring his almost 100-year-old ranch house in Virginia’s BlueRidgeMountains.

Georges Hostache, founder of OSTA Consulting

RichardStewart,CEO&President GeostockSandia

Ourparentcompany,theGeostockGroupbasedin Paris, is the international leader in underground storage technology and is actively working on undergroundstorageofhydrogen

WhoareyourclientsintheU.S.?

Geostock Sandia clients include chemical plants, power producers, oil & gas companies, ethanol producers, the Department of Energy, and the Strategic Petroleum Reserve We assess, permit, designandconstructwellsandreservoirsforwaste disposal, CO2 storage, and natural gas/liquid undergroundstorage

You have over 30 years of experience in underground storage and subsurface injection in North America, can you share with us the biggest achievements/projects and particularly oneintheTexasregion?

We are proud of our early involvement in the development of underground carbon dioxide storage technology, but perhaps our design work with the US Strategic Petroleum Reserve is an evengreateraccomplishment GKShassupported the Department of Energy during the upgrade of the storage of our nation’s oil reserves, which are locatedinTexasandLouisiana.

What is your perspective on gas storage activitiesintheU.S.inthe10nextyears?

Limited development will probably focus on the replacementofstoragetakenoutofservicebythe newintegrityrulesoronspecificgeographicneeds created by shifts in originations of petroleum and naturalgas.Storagewillalsobedevelopedduring the next three years for carbon dioxide sequestration,drivenbythe2018taxlawchanges. Averylimitedamountofstoragewillbeutilizedfor hydrogen, as this technology enters a very early stageofdeployment.

AboutGeostockSandia:

GeostockSandia(GKS),basedinHouston,has30yearsexperienceassessing,permitting,designingandconstructing wells for disposal, petroleum storage, and carbon dioxide sequestration projects. GKS is the U.S. division of The Geostock Group, an international leader with more than fifty years in the design and construction of underground storage. The Geostock Group is owned by Vinci Corporation, an international construction organization of almost 200,000employees.

Our parent company, the Geostock Group based in Paris, is the technological leader in underground storage technology and is actively working on underground storage of hydrogen.

Frio CO2 sequestration project in Texas.

Daisy Gallagher, Geostock Sandia geophysicist, at a CO2 sequestration project in the Northwest

SMART ISOLATING BLINDS

PIERRE-YVES DUCLAYE IS LEADING THE BUSINESS DEVELOPMENT IN THE NORTH AMERICAN MARKET.

TODAY, HE EXPLAINS HOW INNOVATION IS PLACED AT THE HEART OF THEIR QUICKACTION LINE BLINDS CONCEPT WITH ITS UNIQUE INSTALLATION SYSTEM THAT REQUIRES ONE PERSON AND ZERO TOOL.

OVERVIEW OF A SOLUTION

BENEFITING OIL & GAS UPSTREAM & DOWNSTREAM CRITICAL PROJECTS, AND CONTRIBUTING TO A POSITIVE ENERGY TRANSITION IMPACT

For more than a century, producers of Oil & Gas, Chemical and other industrial products understood the necessity and benefit of positive isolation, regardlessofhowtheycallit.

Positive Isolation consists of ensuring a physical disconnectofindustrialequipmentfromaprocess

Valves are widely used to shut off flow in pipelines, however,itisunderstoodthattheyarenotsufficient, tight enough or reliable enough to ensure correct isolationandprovidesafetytooperators.

Amongthetraditionalmethodsusedbyoperatorsfor the last 150 years, the most common are slip-on blinds or spectacle blinds. These devices are permanentlyinstalledonpipesandareswitchedfrom full bore (open to allow product to pass through) to blind position (closed to prevent product to pass through)wheneverrequestedbytheprocess.

The traditional blinding operation requires the pressure in the pipe/vessel to be released before removingallbolts&nuts,manuallyopeningthepipe viaspreadingthepipeandchangetheblind(figure8) to the required position. The traditional method of blinding is time-consuming, generates loss of production time and is unreliable due to possible leakingaroundseals

Reducecostandmaximizesafety

The Onis solution provides 100% positive isolation while reducing operational costs and maximizing safety

In a matter of a few minutes ONIS Quick Action Line Blinds allows for isolation of pipes up to DN52in (diameter1300mm)

ONIS safety equipment can be operated by a single operator without tools instead of using cranes, wrenchesandflangeshydraulicspreaders

Traditional blind

Blinding with Onis

Thankstoitsuniquedesign,ONISQuickActionLine Blindsaresaferthantraditionalsolutions AllONIS

Quick Action Line Blinds are set and tested at the ONIS factory to guaranty the correct positive isolationateachoperationanddoesn’trequireany maintenanceotherthansimplyreplacingtheseals annually

ONISwasoriginallydevelopedtoansweraneedfor a better method of blinding for a major international Oil & Gas company, today ONIS has more than 10000 blinds in operation around the world, demonstrating how profitable ONIS equipmentcanbeforoperationsandprocesses

U.Spresenceandactivities

In 1995, ONIS expanded overseas by opening the ONIS Inc premises in Houston-Texas to provide regional and national customer support in close proximity and to be reactive and supportive for customerisolationneeds

With a diversified customer portfolio which includes,Total,Exxon,Lyondell-Basell,Kuraray,Air Liquide, Chevron and many others, the decision to have a facility close to our customers has been confirmed

The combination of reliability, performance and customersupportiswhatmostlikelyledExxonand Sabic (Saudi Basic Industries) to trust in ONIS Line Blindsfortheirnewjointplant-GulfCoastGrowth Ventures-thatisunderconstructioninPortland,TX nearCorpusChristi.

Through the Japanese Based EngineeringProcurement and Construction (EPC) contractor Chiyoda,ONISdeliveredlastyearatotaloftwentyfourHighSafetyLineBlindsfrom2to12inchesthat will enhance the production and make safer the decokingoperationsoftheeightEthanefurnacesof thenewplant.

The USA is a leading market and more especially the Gulf coast region concerning Petrochemicals but despite a 25-year presence, ONIS Quick action line blinds and solutions may still be unknown by certainmajoroperators.ONISiscommitted,byits technological developments and customer’s support, to reinforce the safety of the midstream and downstream processes while reducing operationalcosts.

ONIS is also an expert provider and actively contributes to the development of new technologies in energy transition more particularly in the fields of sustainable energies and hydrogen clean mobility.

Pierre-Yves Duclaye has a technical background with 15+ years’ experience in the promotion of premiumpipelineequipmentforEnergysectors. Originally graduated from Mechanical and Production Engineering, his career took a new direction when he started sales activity of unique solutionsfordemandingindustries

With ONIS Line Blinds, Pierre-Yves is in charge of development of the activity of company and its positioningonnewmarkets

Ifthisroleledhimtotravelaroundtheworldforthe purposeofvisitingsitesandcustomers,itisnowin Houstonthatheintendstosharehisexpertise

Pierre-Yves Duclaye, Area Sales Manager

HYDRO LEDUC, HYDRAULICS SOLUTIONS SPECIALIST, LAUNCHED A NEW PRODUCTION FACILITY IN HOUSTON IN 2020

We are very proud and thrilled to welcome this French "pépite" in Houston!

Hydro Leduc opened a production facility in Katy at the beginning of 2020, just before the Covid crisis. An inspiring story of resilience and leadership in uncertain times.

This family owned business founded in 1938, initially evolved in the aircraft business. It's in 1958 that the company switched from aeronautics to hydraulics.

From the East of France to an international recognition, Hydro Leduc's innovation was featured in January 2020 at Le Palais de l'Elysée with the presence of the French President, Emmanuel Macron, during "The Great exhibition of Made in France" visited by over 10,000 people

Ludovic Bertrand, Leading US operations during these challenging times

"Like many companies around the world, the year 2020 has been very destabilizing and far from what was expected However, this very strong slowdown has allowed us to prepare serenely means of production for takeover and to train new operators for recovery that seems to be announcing in 2021.

The objectives for this new year are ambitious with the arrival of new operators and production increase, but also with major industrial projectS to start machining on-site to be able to respond more quickly to customer ’ s needs This step will be an important milestone to be able to continue our growth both worldwide and in the USA "

HYDROLEDUCisaspecialistinthedesignandmanufactureof piston pumps, hydraulic motors, hydro pneumatic accumulators and customized hydraulic components satisfying customer needs with reliable products from a reliablesource.

Formorethan80yearsofexperienceinthefieldofhydraulics, HYDRO LEDUC has pioneered numerous solutions for demandingapplicationsallovertheworld.Theseinnovations haveresultedinover150patents

2020 has seen an unprecedented health crisis around the world,eventhought,thecompanyhasmaintaineditsfighting spiritthroughthepandemic,toensurecontinuityofserviceto customersandtosupportitsdevelopmentsandactivities

Resolutelylookingtothefuture,thecompanyhas:

•Continueditsinternationaldevelopment

•Developedandlaunchednewproducts

AfacilitylocatedinKaty,TX

Inthenewfacility,justWestofHouston,thecompleteprocess in France has been duplicated: washing machine, assembly line, test bench for 100% of the products built, paint cabin, packing,andshipping.

Theteamhasworkedhardtogetfromanewbuildingshelltoa good-lookingtopqualityHYDROLEDUCfacility.

Furthermore,followingaudits,itisnowISO9001certified TheequipmentandskillswehaveinKaty,allowustocarryout inspection, analysis, and ensure an after-sales service for motors

This underlines the progress already made in the North American market and our confidence in achieving growth in thefuture

VisitHydroLeduc'swebsite

FOOOOOD!!!

Institute

Teaching the French Culinary Tradition

for more than 20 years in the USA

Lenôtre

Culinary Institute Lenôtre Culinary

EVERYTHING STARTED IN NORMANDY

Thegrandparentsofcurrentownerofthe

Culinary Institute Lenôtre, Alain Lenôtre, both worked as cooks in Paris before moving back to Normandy to buy their first farm in the village where Alain's fatherwasborn.

Alain's father, Gaston, and his uncle, Marcel, were born and raised on this farm, and both boys quickly followed in their parents' footsteps, learning "a job that would allow them to never be hungry"; Gaston chose pastry art and Marcel chose bakery to pursue each of theirpreliminaryculinarycareers.

Before WWII, they thought to make a fortune in Paris, but quickly returned to Normandy Gaston met Colette, and got married just before the "liberation de Paris". Together they bought an old but chic pastry shop where Gaston had worked before the war, and their 3 childrenwereborninthefollowingyears:

Alain,Sylvie,andAnnie

The majority of the customers to the pastry shop in Normandy came from Paris and Deauville, so in 1957, Gaston, Colette, and their 3 children decided to movetoParis Theysettleddownonthe "rued'Auteuil"inthe16earrondissement toopentheirdreamParisianpastryshop, which was to be the first of the future "MaisonLenôtre"empire.

GASTON: the gourmet entrepreneur

During this period, Gaston developed a catering service, which was somethingprettynewatthetime.He quicklybecamethe“chef”offestivals and private receptions, and his innovative cuisine became the main attraction at social gatherings throughoutParis.

Gastonwasatruebusinessman,hard worker, and tireless perfectionist; paired with his curiosity, the perfect combination to build a famous gourmetcuisineempirehadbegunto form.

Intheearly70s,Gastonfounded"L'écoleLenôtre"withhissonAlain.Theculinaryschoolislocatedin Plaisir(afewmilesawayfromParis),andwascreatedtopassontheLenôtres'know-howandtalentto newgenerationsofpastrychefslikefamouschefAlainDucasse.

Ducasse opened great restaurants: Le Pré Catalan in 1976, LePavillonÉlyséein1985,andLeRestaurantPanoramique du Stade de France in 1998. He also established multiple franchisee pastry boutiques, and created the Pavilion of FranceatDisneyworldOrlandowithPaulBocuseandRoger Vergé.TheLenôtreempirehascontinuedtospreadtoover fiftyaddressesaroundtheworld,betweenAsia,theUnited States, and Europe. The catering company eventually boughtbyalargeFrenchgroupinthemid80s.

Alain is a certified pastry chef, candy maker and ice cream maker. With two talented chefs as parents, Alain started his culinary education in childhood, and choose to follow pastry and chocolate arts once he arrived in Paris His father served as the best tutor and best practice partnerformasteringtheartofpastry,buthewasalsotrainedasacookattheGrandVéfour,a famous 3-Star Michelin Restaurant in Paris. He pursued his studies at the famous HEC business schoolinParisandobtainedhisMBAthere.

Thirtyyearsago,Alainco-createdthechefschoolEcoleLenôtrewithhisfather,oneoftheworld’s bestculinarytrainingschools,wherehewasaninstructorformanyyears.

HeisalsoinchargeofthedevelopmentoftheinternationalLenôtrepastryshopfranchise,andhe hassucceededtoexpandthebusinessinJapan,GermanyandBrazil.

After receiving a request for a franchise in Texas, Alain and his wife, Marie, were invited to visit Houston, Texas in 1981 Eventually, they started their own business there with a retail and wholesale bakery. In 1998, they opened an international cooking and baking school for career seekers,careerchangers,foodenthusiastsandcontinuingeducation.In2002,theschoolreceived accreditationsfromtheACCSCT,andin2003,theestablishmentwasallowedtoadministerTitleIV programswhichgavequalifiedstudentsaccesstofederalgrantsandfinancialaid.Inthefollowing yearsassociatedegreeprogramswereaccreditedandimplemented.

Theinstitutecurrentlyoffers7programs:fourEliteDiplomaProgramsandthreeAssociateDegree programs with the option of specialty electives such as Hotel, Hospitality and Restaurant Management,LENOTRE®SommelierorAdvancedArtisticSkillsofPastryDécor.

alain: pursuing a "savoir faire" and building a new empire overseas

Galette des rois

Ingredients

Prep:20 mins

Cook:25 mins

Total:45 mins

Servings:12 servings

For the Almond Cream Filling:

1/2 cup almond meal

1/4 cup granulated sugar

1 egg

3 tablespoons butter (softened)

3/4 teaspoon vanilla extract or almond

extract

1 tablespoon all-purpose flour

Optional: 1 tablespoon of heavy cream

For the Cake:

17 ounces puff pastry (thawed)

Optional: 1 dried fava bean

1 egg (beaten)

2 tablespoons confectioners' sugar

Make the Almond Cream: Gather the ingredients

Combine all of the ingredients in the bowl of a food processor

Blend to a smooth, creamy paste

Assemble the Cake:

Gather the ingredients and preheat the oven to 425 F

Line a baking sheet with parchment paper

Roll out the sheets of puff pastry and cut out 2 (11-inch) circles

Place the first disc on the prepared baking sheet, and spread an even layer of the almond cream, leaving a 1-inch border around the edges

If you wish to include a "fève" (lucky charm), you can do so at this point: Simply nestle it in the almond cream

Place the second puff pastry disc on top of the filling, and crimp the edges with a fork to seal the cake

Using a sharp knife, score a decorative pattern into the top layer of the pastry, without cutting through to the almond filling.

Brush the galette with the beaten egg (this will create a golden crust).

Bake the Cake:

Bake the cake for 15 minutes.

Remove from the oven and dust the cake with the powdered sugar.

Return to the oven and bake for an additional 10 to 12 minutes, until the puff pastry becomes a deep golden brown

Allow the cake to cool for 20 minutes

If you have included a fève, make sure to warn your guests and, of course, crown the king or queen with a paper diadem Enjoy!

Crêpes

Ingredients

Prep: 10min

Cook: 10min

For 12 crêpes:

1 3/4 cup White wheat flour

3 Eggs

1/4 teaspoon salt

1 tablespoon Vanilla extract or Orange

blossom flower water

1 teaspoon white sugar optional

2 cups of milk

2 tablespoons Unsalted Butter melted

Method

In a large bowl add the flour, eggs, salt, vanilla extract or orange blossom flower water, melted butter and sugar if used

Using a whisk or electric mixer, beat in the milk gradually until a smooth batter form with no lumps

Heat a lightly buttered crepes pan over medium/high heat Pour or scoop the batter onto the pan, then tip and rotate the pan to spread batter as thinly as possible

Cook until light brown on both sides - about 1-2 minutes on each side and serve hot with your favorite fillings

Crêpe pan: us can use a 10-inch French crepe pan It makes 12 perfectly thin and crispy French crepes with this recipe

Store: you can cook all the crepes then store them in the fridge, on a plate covered with plastic wrap It stores well up to 2 days

Filling ideas: jam, chocolate spread, honey, caramel, apple compote, fruits, nut butters, whipped cream, ice cream, nuts, coconut and more!

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