Local businesses selected for Shell and LiftFund accelerator program

25 Louisiana small business the first to enter accelerator and receive entrepreneurial support

NEW ORLEANS, April 19, 2023 /PRNewswire/ -- Shell USA, Inc., in collaboration with LiftFund, identified Louisiana as the perfect home for its global flagship enterprise development program, Shell LiveWIRE. The Louisiana edition of this program, launched at the beginning of March, equips entrepreneurs, micro and small business owners with the technical, business, and soft skills necessary to succeed in the marketplace.

The 25 businesses selected to participate in the first Shell LiveWIRE Louisiana cohort are derived from such industries as construction, farming, health & beauty, restaurants, mental health, landscaping and more. LiftFund acts as the local implementing partner for the program, bringing a proven curriculum customized to meet the needs of the Shell LiveWIRE Louisiana cohort class. The educational sessions are delivered by local subject-matter experts, including Chase Bank, Fletcher Technical Community College, Louisiana Community and Technical College Systems, and LiftFund experts.

Meet the 2023 Shell LiveWIRE Louisiana Cohort  

"Helping businesses grow and thrive is important to South Louisiana and Shell," said Colette Hirstius, Shell SVP Gulf of Mexico – Deepwater. "Many times, it's a matter of providing key tools and access to education, capital and other expertise that can make a difference in whether a business becomes successful."

The program aims to connect participants to support networks within the market to help build and expand successful businesses across 13 rural parishes in South Louisiana: Ascension, Assumption, East Baton Rouge, West Baton Rouge, Iberville, Jefferson, Lafourche, Livingston, Saint Charles, Saint James, Saint John the Baptist, Saint Mary, and Terrebonne.

"LiftFund is proud to partner with Shell to design and host the LiveWIRE Louisiana program customized to fit the needs of aspiring and existing South Louisiana entrepreneurs," said Bridget Ross, LiftFund's Vice President of Business Support. "This is a one-of-a-kind program that offers training, tools, mentorship, and capital to support diverse entrepreneurs in all stages of business. Through our local New Orleans office and business support team, we welcome the opportunity to collaborate with local organizations to provide resources that will help strengthen the South Louisiana entrepreneurial ecosystem for years to come!"

Notes to Editors

• About Shell LiveWIRE

Shell LiveWIRE is the flagship enterprise development program of Shell. The program strengthens local economies across the globe by promoting and developing entrepreneurs.

Shell LiveWIRE's mission is to stimulate the local economy through entrepreneurship, innovation, and meaningful employment. Every year Shell LiveWIRE supports thousands of individuals in gaining access to the knowledge, skills, networks and resources that can turn their business ideas into successful enterprises.

Started in Scotland in 1982, the program is now delivered in 20 countries around the world, making a positive social impact in the communities in which Shell operates. In 2021 alone, Shell LiveWIRE trained 3,615 entrepreneurs, supported 673 businesses, created 2,272 local jobs, and created 126 new businesses.

• About LiftFund

LiftFund, a nonprofit community small business lender, transforms lives by opening doors, leveling the financial playing field and building a community of shared success through entrepreneurship. Founded in 1994 in San Antonio, Texas, LiftFund provides capital, financial coaching, tools and resources to entrepreneurs who do not have access to loans from commercial sources. Since inception, LiftFund has provided almost $1 billion in capital, propelling the dreams of over 25,000 diverse small businesses throughout its 15-state footprint.

Cautionary note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this press release "Shell", "Shell Group" and "Group" are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this press release refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as "joint ventures" and "joint operations", respectively. "Joint ventures" and "joint operations" are collectively referred to as "joint arrangements".  Entities over which Shell has significant influence but neither control nor joint control are referred to as "associates". The term "Shell interest" is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement "Shell", "Shell Group" and "Group" are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as "joint ventures" and "joint operations", respectively. "Joint ventures" and "joint operations" are collectively referred to as "joint arrangements". Entities over which Shell has significant influence but neither control nor joint control are referred to as "associates". The term "Shell interest" is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

Forward-Looking Statements

This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as "aim", "ambition", ''anticipate'', ''believe'', ''could'', ''estimate'', ''expect'', ''goals'', ''intend'', ''may'', "milestones", ''objectives'', ''outlook'', ''plan'', ''probably'', ''project'', ''risks'', "schedule", ''seek'', ''should'', ''target'', ''will'' and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc's Form 20-F for the year ended December 31, 2022 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, April 19, 2023. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

Shell's net carbon intensity

Also, in this announcement we may refer to Shell's "Net Carbon Intensity", which includes Shell's carbon emissions from the production of our energy products, our suppliers' carbon emissions in supplying energy for that production and our customers' carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions. The use of the term Shell's "Net Carbon Intensity" is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell's net-Zero Emissions Target

Shell's operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Intensity (NCI) targets over the next ten years. However, Shell's operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCI target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell's operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

Forward Looking Non-GAAP measures

This announcement may contain certain forward-looking non-GAAP measures such as cash capital expenditure and divestments. We are unable to provide a reconciliation of these forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those Non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc's consolidated financial statements.

The contents of websites referred to in this announcement do not form part of this announcement.

We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

View original content to download multimedia:https://www.prnewswire.com/news-releases/local-businesses-selected-for-shell-and-liftfund-accelerator-program-301802403.html

SOURCE Shell USA, Inc.