SoCalGas Hosts U.S. Department of Energy's Second Annual Minority Business Summit, Emphasizing the Importance of Diverse Spending

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Apr 18, 2024, 06:50 ET

700 diverse business leaders from 33 states will have the opportunity to learn about $400 billion in federal procurement opportunities; special guest Daymond John

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LOS ANGELES, April 18, 2024 /PRNewswire/ -- Southern California Gas Company (SoCalGas) is hosting 700 diverse business leaders from 33 states at the U.S. Department of Energy (DOE) Office of Energy Justice and Equity's second annual Minority Business Enterprise (MBE) Connect Summit on April 17-18, 2024, at the company's Energy Resource Center (ERC) in Downey, California. The summit, being held for the first time on the West Coast, connects MBEs with the DOE and more than 40 other state and federal agencies, prime government contractors, financial institutions, private sector companies and nonprofit organizations for learning, business opportunities and over 1,900 unique business matchmaking sessions.

"We're here today to advance a mission that is incredibly important to me, which is deepening the Department of Energy's work with minority-owned businesses. It's a top priority for two simple reasons: first, it's a smart thing to do, and then, it's the right thing to do. It's of course the smart thing because the clean energy transition is only going to succeed if it's led by businesses like yours," said U.S. Secretary of Energy Jennifer Granholm in a video message to conference attendees. "We need your expertise, we need your creativity, and, above all, we need your drive. I think working more closely with minority-owned businesses is also the right thing to do because the incredible economic opportunity of clean energy doesn't mean much unless it's broadly shared."

"Partnering with diverse suppliers benefits local economies and communities, strengthens the supply chain, and accelerates America's clean energy transition," said Scott Drury, chief executive officer of SoCalGas. "Our commitment to supplier diversity not only boosts market competitiveness but also drives innovation."

Connect Summit participants will attend panels, workshops and matchmaking meetings designed to create new business relationships between MBEs and the U.S. Department of Energy. Other federal agencies attending include the U.S. Departments of Agriculture, Commerce, Defense, Interior, Labor, Transportation; the Environmental Protection Agency; NASA; the U.S. Patent and Trademark Office; and the Small Business Administration. Summit discussions will center around $400 billion in federal contract opportunities available to MBEs.

The first day of the summit featured a fireside chat with Maryam Brown, president of SoCalGas, and Daymond John, CEO of the Shark Group, CEO and founder of FUBU, a presidential ambassador for Global Entrepreneurship, and co-star of ABC's Shark Tank, that focused on how businesses can make the right pitch to grow and amplify their brand.

Attendees also received a welcome from Vice President Kamala Harris, who sent a congratulatory letter to summit attendees. Link here.

The DOE selected SoCalGas to host the summit because of the company's leadership in diverse spending through its long-recognized Supplier Diversity Program. In 2023, SoCalGas surpassed the California Public Utilities Commission (CPUC) Supplier Diversity Program goal for the 31^st straight year by working with 618 diverse firms and subcontractors with over $1 billion spent, amounting to 44% of the company's total procurement with women, minority, disabled veteran, and LGBT-owned businesses. This achievement was reached through the company's continuing efforts to help increase the pool of diverse suppliers through broad outreach and education.

SoCalGas' ASPIRE 2045 sustainability strategy includes a goal of achieving 45% spending with diverse business enterprises by 2025 and a goal of achieving net-zero greenhouse gas emissions in the company's operations and delivery of energy by 2045, as well as goals related to safety, diversity, equity and inclusion, and investment in underserved communities.

At the ERC, attendees can tour SoCalGas' H2 Innovation Experience, an innovative microgrid with the first clean hydrogen-powered microgrid and home model in North America. The ERC was also the first building in California to receive Leadership in Energy and Environmental Design (LEED) "green building" recognition and is a model of advanced, energy-efficient and environmentally sensitive building technology.

The MBE Connect Summit includes the U.S. Department of Commerce's Los Angeles Minority Business Development Agency Center, managed by the Pacific Asian Consortium in Employment (PACE). Sponsors include Primoris Service Corporation, Los Angeles Department of Water and Power, Hal Hayes Construction Inc., and E2 Consulting Engineers Inc.

About SoCalGas

Headquartered in Los Angeles, SoCalGas is the largest gas distribution utility in the United States. SoCalGas aims to deliver affordable, reliable, and increasingly renewable gas service to approximately 21 million consumers across approximately 24,000 square miles of Central and Southern California. We believe gas delivered through our pipelines plays a key role in California's clean energy transition by supporting energy system reliability and resiliency and enabling integration of renewable resources. 

SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replace 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. RNG can be made from waste created by landfills and wastewater treatment plants. SoCalGas is also investing in its gas delivery infrastructure while working to keep bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. 

For more information visit socalgas.com/newsroom or connect with SoCalGas on X (formerly Twitter) (@SoCalGas), Instagram (@SoCalGas) and Facebook. 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.

In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations.

Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals, and (iv) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to relevant emerging and early-stage technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control.

These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.

Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.

SOURCE Southern California Gas Company