Category: Americas

  • MIL-OSI Global: Plastic pyrolysis − chemists explain a technique attempting to tackle plastic waste by bringing the heat

    Source: The Conversation – USA – By Kevin A. Schug, Professor of Analytical Chemistry, University of Texas at Arlington

    Large proportions of plastic waste don’t get recycled. Westend61 via Getty Images Plus

    In 1950, global plastic production was about 2 million tons. It’s now about 400 million tons – an increase of nearly 20,000%.

    As a material, it has seemingly limitless potential. Plastic is inexpensive to produce while being lightweight and sturdy. Its applications range from food and beverage packing to clothing and health care.

    When a plastic item ends its useful life, it can take a very long time to decompose, up to 500 years in some cases. Even then, the plastic pieces don’t disappear entirely – instead, they break down into smaller and smaller pieces, eventually becoming microplastics that end up in the soil where we grow food, the water we drink and the air we breathe.

    Research has linked these microplastics to health issues such as diabetes, heart disease and low male fertility.

    For years, local governments and manufacturers have relied on recycling as the answer to keep plastic waste from accumulating. However, despite their efforts to sort and separate recyclables, most plastics still end up in landfills – or worse, in green spaces and waterways.

    According to the U.S. Environmental Protection Agency, the overall recycling rate for plastics is 8.7%. About a third of milk jugs and plastic bottles are recycled – a higher rate than other types of plastic.

    Because plastic is so commonly used, finding new ways to manage and recycle plastic waste is becoming ever more important. Plastic waste pyrolysis is one technology that could help address this issue.

    This is a relatively new technique, so researchers still have only a limited knowledge of the pyrolysis process. As analytical chemists, we strive to understand the composition of complex mixtures, especially new creations from sources such as plastic waste pyrolysis.

    What is plastic pyrolysis?

    Plastic pyrolysis is a chemical process that involves chemically breaking down plastics into other molecules by heating the plastics to extremely high temperatures in the absence of oxygen.

    Plastics are fed into the pyrolysis reactor, where they get hot and turn to oil. The oil moves to another vat where it’s boiled and distilled.
    Alexander Kaplitz and Kevin A. Schug

    Unlike traditional plastic recycling, pyrolysis theoretically isn’t limited to specific types of plastic. It could be made to accommodate many of them, although current technology is limited to a few types – polyethylene and polypropylene, used in food containers and bottles – at an industrial scale.

    So, plastic pyrolysis could help handle the waste from consumer products such as plastic bags, bottles, milk jugs, packaging materials, wet wipes and even discarded children’s toys. Pyrolysis can also handle more complex plastic waste such as tires and discarded electronics, although solid waste handlers and recyclers avoid certain plastic types in pyrolysis, such as polyvinyl chloride – or PVC, which is found in pipes and roofing products – and polystyrene, used in packaging, as these can create harmful byproducts.

    During pyrolysis, the plastic polymers are broken down into smaller molecules, resulting in the production of liquid oil, fuel source gases such as methane, propane and butane, and char.

    Char is the solid residue left at the end of the pyrolysis process. It can be used as a carbon-rich material for various applications, including adding it to soil to make it healthier for farming, as it increases soil moisture and pH, benefiting nutrient absorption. Char also has the ability to absorb harmful carbon gases from the air, which can help prevent climate change.

    The main downside of char is if it’s used too much it can increase soil alkalinity, which may hinder plant growth.

    Plastic pyrolysis uses heat to break down plastic, with the intent to convert plastic waste into usable materials.

    How pyrolosis works

    The plastic pyrolysis process typically involves several key steps.

    In the first step of pyrolysis, community recyclers collect the plastic waste and clean it to remove any contaminants. The plastic then gets shredded into smaller pieces to facilitate the pyrolysis process. Unlike traditional recycling, it needs only minimal sorting.

    Chemical recyclers operating pyrolysis plants feed the shredded plastic into a pyrolysis reactor, where they heat it to temperatures ranging from 600 to 1,600 degrees Fahrenheit (315 to 871 degrees Celsius). Without oxygen, plastics in the reactor don’t catch fire and emit fumes into the air. Instead, this high-temperature environment causes the plastic polymers to break down into smaller hydrocarbon molecules. These smaller molecules can be further refined.

    The high temperature turns some molecules into vapors, which condense into liquid oil. Chemical companies can further refine this oil to be used as fuel or as a raw material to make other chemicals or plastics.

    In addition to liquid oil, the pyrolysis process generates natural gases, such as methane, ethane, butane and propane. Pyrolysis operators then capture these gases, and they can sometimes use them as a source of energy to power the pyrolysis reactor or other industrial processes.

    Plastic pyrolysis generates oil, which engineers can use to create new materials or fuels.
    BASF, CC BY-NC-ND

    Benefits of pyrolysis

    When done effectively, plastic pyrolysis offers several benefits.

    By expanding recycling beyond just plastic bottles and milk jugs, pyrolysis could reduce the amount of plastic waste pollution that ends up in landfills and oceans.

    Additionally, converting plastic waste into usable products could help lower the production demand for new plastics from petroleum hydrocarbons. The byproducts could get used in recycled plastics.

    Some researchers are also testing pyrolysis oils to see whether they can use them instead of gasoline to fuel vehicles. The gases produced during pyrolysis can even generate energy that fuels the pyrolysis reactor, making the process more self-sustaining and reducing the need for external energy sources.

    Currently, about 15% to 20% of the pyrolysis products are recycled into new propylene and ethylene, while most – about 80% to 85% – becomes diesel fuel, hydrogen, methane and other chemicals.

    While plastic pyrolysis holds some promise, it also faces challenges. The cost of setting up and operating pyrolysis plants is high. How profitable the process is depends on the availability of suitable plastic waste, the market demand for the oils and gases produced, and the costs of energy and staff necessary to operate the reactor.

    Another issue is quality control. Most plastic types can undergo pyrolysis, but different plastics create oils with different chemical makeups. Scientists will need to understand the composition of these oils before industry can determine which plastic types to focus on and how each oil could create new materials.

    Pyrolysis oils have unique chemical compositions depending on the type of plastics used to create them.
    Alexander Kaplitz and Kevin A. Schug

    Researchers like us at The University of Texas at Arlington and our international colleagues are studying new chromatography-based oil-separation techniques that can successfully identify some types of pyrolysis oils. Chromatography is the process of separating components in a mixture by passing them through a stiff material.

    Different components in the mixture are attracted to this material to different degrees. So, they exit the chromatography system at different times, which separates them from one another.

    With more research into the technique’s efficiency and technological advancements to scale up pyrolysis, this technique could be one part of a sustainable solution to plastic waste management. In the meantime, pyrolysis is being used now, with one report estimating the market for pyrolysis plants at US$40 billion in 2024 and predicting it to grow to $1.2 billion by 2033.

    Kevin A. Schug receives funding from the National Science Foundation, the National Institutes for Health, ExxonMobil, and Weaver Consultants Group. He is affiliated with VUV Analytics, Inc. and Infinity Water Solutions as a member of their scientific advisory boards. Lummus Technology, LLC provided the funding for research on plastic waste pyrolysis oils at UT Arlington.

    Alexander Kaplitz does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Plastic pyrolysis − chemists explain a technique attempting to tackle plastic waste by bringing the heat – https://theconversation.com/plastic-pyrolysis-chemists-explain-a-technique-attempting-to-tackle-plastic-waste-by-bringing-the-heat-234453

    MIL OSI – Global Reports

  • MIL-OSI Canada: Government of Yukon offers letters of support for foreign nationals with work permits expiring in 2025

    Source: Government of Canada regional news

    The Government of Yukon has extended an agreement with Immigration, Refugees and Citizenship Canada (IRCC) to facilitate the issuance of work permits to prospective applicants of the Yukon Nominee Program (YNP). Foreign nationals who were living and working in the Yukon on May 16, 2024, with work permits that have expired since January 1, 2025, or that are set to expire before December 31, 2025, will be eligible to apply for a new Yukon-specific work permit. This permit will be valid for up to two years.

    This temporary measure specifically applies to foreign nationals who are currently established in the Yukon. Their employer must plan to nominate them for permanent residency through the YNP in 2025 or 2026. If eligible, the foreign national will receive a letter of support from the Government of Yukon to accompany their work permit application to IRCC.

    The intake period to request a temporary measure letter of support will open on March 19, 2025, at 9 am Yukon Standard Time. Foreign nationals must submit their request by April 2, 2025, at 4:30 pm Yukon Standard Time. To prepare, foreign nationals can find information about what they will need to submit on the webpage: Request support as a potential nominee. The form to submit requests will be available on this page when the intake opens.

    In January 2025, IRCC informed the Yukon of a 50 per cent reduction in nominee program allocations for the year. In consideration of the Government of Canada’s priority to stabilize immigration levels across the country, lower allocation limits are expected to continue. This means fewer foreign nationals will be able to pursue participation in the YNP as a pathway to permanent residence each year. The department encourages anyone with an expiring work permit in 2025, and who intends to pursue candidacy for the YNP, to consider submitting a request. Extending this measure to people with work permits expiring in 2025 gives individuals and their employers time to apply in 2025 or 2026.

    The Department of Economic Development is finalizing the approach for YNP intake for 2025. This work has been done in conversation with industry organizations. Updates will be made in consideration of feedback and how the program can better meet participant and labour market needs. Information on the 2025 process will be announced in the coming weeks.

    MIL OSI Canada News

  • MIL-OSI Canada: Statement from Premier Pillai on the International Day to combat Islamophobia

    Source: Government of Canada regional news

    Premier Ranj Pillai has issued the following statement:  

    “Tomorrow, on the International Day to Combat Islamophobia, the Government of Yukon will stand in solidarity with the Yukon’s Muslim community in the fight against hate, discrimination and intolerance.

    “Our government believes strongly in building a Yukon where everyone feels safe, respected and valued. Established by the United Nations in 2022, the International Day to Combat Islamophobia serves as an important reminder that combatting intolerance requires ongoing commitment from all of us.

    “We are fortunate to have a growing Muslim community here in the Yukon and to celebrate historic milestones with them, including the opening of the territory’s first mosque in 2018.

    “I encourage all Yukoners to reflect on the actions we take, big and small, to create a more welcoming community. By challenging prejudice, promoting understanding and standing in solidarity with our neighbours, we build a stronger, more inclusive territory for all.”
     

    MIL OSI Canada News

  • MIL-OSI Canada: Government of Yukon and Yukon Medical Association entering negotiations on next Memorandum of Understanding

    Source: Government of Canada regional news

    Government of Yukon and Yukon Medical Association entering negotiations on next Memorandum of Understanding
    jlutz
    March 17, 2025 – 11:45 am

    The Government of Yukon and the Yukon Medical Association (YMA) will soon begin negotiations for a new Memorandum of Understanding (MOU), reaffirming their commitment to collaboration and strengthening the sustainability of the Yukon’s health care system.

    The negotiations will focus on key priorities, including improving access to quality health care services across the territory, representational rights for physicians and any necessary legislative changes and ensuring fair and sustainable compensation. These discussions will also support broader system sustainability efforts, such as recruiting and retaining physicians, making it easier for Yukoners to find a family doctor and strengthening team-based care so people can see the right health care provider when they need it.

    These negotiations will also help align future agreements with the shift towards a territorial health authority, called Shäw Kwä’ą / Health and Wellness Yukon / Santé et mieux-être Yukon. This includes reducing administrative burdens for both physicians and government, ensuring health care information is accurate and reliable across the system and ensuring initiatives support the recommendations outlined in the Putting People First report.

    The Yukon Medical Association and the Government of Yukon have agreed the current MOU will remain in effect beyond March 31, 2025, until a new agreement is negotiated and ratified. The current MOU has contributed to improving equity in health care services and enhancing physician supports in the territory.

    The Government of Yukon is looking forward to beginning negotiations with the Yukon Medical Association. We are pleased to have a negotiating mandate that provides an opportunity to strengthen our partnership and advance key priorities, including representational rights and necessary legislative changes, to ensure a strong, accessible and sustainable health care system for all Yukoners.

    Minister of Health and Social Services Tracy-Anne McPhee

    The Yukon Medical Association looks forward to collaborating with the Government of Yukon to establish a new Memorandum of Understanding. By working together, we can prioritize improving access and attachment to family doctors, ensure sustainability of medical services and achieve equity across payment models. The YMA is confident that supporting representational rights will advance these priorities and improve medical care for Yukoners during the transformation of our health care system.

    President of the Yukon Medical Association Dr. Derek Bryant

    Quick facts

    • The Yukon Medical Association represents physicians across the territory, advocating for professional standards and the delivery of quality health care.

    • The current three-year Memorandum of Understanding, in effect from April 1, 2022, to March 31, 2025, includes initiatives such as the Attachment and Attraction Program, Equity, Diversity and Inclusion Learning Program and commitments to collaborative maternity and early years care.

    • The upcoming negotiations will focus on issues such as sustainable health care service delivery, representational rights and necessary legislative changes, and fee structures.

    Media contact

    Laura Seeley
    Cabinet Communications
    867-332-7627
    laura.seeley@yukon.ca

    Nigel Allan
    Communications, Health and Social Services
    867-332-9576
    nigel.allan@yukon.ca

    News release #:

    25-117

    Related information:

    Yukon Medical Association
    Shäw Kwä’ą / Health and Wellness Yukon / Santé et mieux-être Yukon

    MIL OSI Canada News

  • MIL-OSI Canada: Government of Yukon launches new tourism dashboard

    Source: Government of Canada regional news

    Government of Yukon launches new tourism dashboard
    jlutz
    March 17, 2025 – 9:48 am

    The Government of Yukon announces the launch of a new online service that provides a window into the territory’s active tourism sector.

    Informed by direct feedback from tourism stakeholders, the Yukon Tourism Indicators Dashboard is a new source for sharing Yukon tourism data. The dashboard highlights visitor numbers, spending patterns and seasonal trends to help inform decision making and industry plans.

    The new dashboard features data about border crossings, airport arrivals, hotel and short-term rental indicators, employment rates, restaurant and retail sales, business counts and consumer confidence. Data sources are updated weekly or monthly and the dashboard is also easily expandable as new datasets become available.

    For more information and to use the dashboard, people can visit yukon.ca/access-yukon-tourism-indicators-dashboard.

    Tourism is a key driver of the Yukon’s economy and having reliable data at our fingertips allows us to support the sector more effectively. This new dashboard makes it easy to track tourism activity and identify opportunities for sustainable development. Tourism operators, communities and stakeholders are encouraged to explore the dashboard and use the insights to help shape their strategies and investments.

    Minister of Tourism and Culture John Streicker

    The Yukon Tourism Advisory Board (YTAB) is thrilled with the launch of the Yukon Tourism Indicators Dashboard. The YTAB’s approach is to make recommendations to the Minister that are market-driven, research-based and industry-led. The collection and reporting of reliable data through the Yukon Tourism Indicators Dashboard will support timely, informed decision making that supports the priorities of Yukon tourism businesses, communities, First Nations and all Yukoners.

    Yukon Tourism Advisory Board Chair Denny Kobayashi

    Quick facts

    • Data on the dashboard comes from a variety of Yukon government sources as well as Statistics Canada, Destination Canada and other providers. The dashboard includes historical data going back as far as 30 years.

    • This service absorbs and improves upon the previous Yukon Sustainable Tourism Dashboard and replaces the old method of publishing quarterly reports. Reports from previous years have been added to the Government of Yukon’s Open Data platform. 

    Media contact

    Laura Seeley
    Cabinet Communications
    867-332-7627
    laura.seeley@yukon.ca

    Alicia Debreceni
    Communications, Tourism and Culture 
    867-3323670
    alicia.debreceni@yukon.ca 

    News release #:

    25-116

    Related information:

    Yukon Tourism Development Strategy: Sustainable Tourism. Our Path. Our Future.

    MIL OSI Canada News

  • MIL-OSI USA: Gov. Kemp: TriNet to Create 750 Jobs in Metro Atlanta

    Source: US State of Georgia

    ATLANTA – Governor Brian P. Kemp today announced that TriNet is planning to create 750 new jobs at a new corporate center in Dunwoody over the next five years, representing an estimated $15.4 million in investment in DeKalb County.

    “As the No. 1 state for business, one of the key drivers of our success is our metro Atlanta area that continues to attract a strong ecosystem of job creators like TriNet,” said Governor Brian Kemp. “TriNet’s services for small businesses will further that network while creating meaningful jobs and investment for the Dunwoody and DeKalb County community.”

    TriNet provides comprehensive HR solutions, technology, expertise, and access to world-class benefits that enable small and medium-sized businesses (SMBs) to attract and develop top-tier talent.

    “We look forward to opening a new TriNet office in metro Atlanta and becoming a part of this vibrant and growing business community,” saidMike Simonds, TriNet President and CEO. “We are excited to partner with Atlanta’s strong universities and thriving small business ecosystem as we expand our local team and establish a hub where TriNet colleagues from across the country can come together for training, development, and collaboration to better serve our customers.”

    “At TriNet, our people are the heart of everything we do, and we are thrilled to expand our team here in metro Atlanta,” said Catherine Wragg, TriNet Chief People Officer. “This new office will help us attract top talent, foster our strong culture of collaboration and making an impact, and further invest in the professional growth of our colleagues. We are committed to creating a workplace where our colleagues can thrive and look forward to making a positive impact in this community.”

    TriNet’s new approximately 150,000-square-foot space will be located in Dunwoody. The company will immediately begin hiring for technology, HR consulting, client management, and sales roles, with plans to leverage its increased presence to grow its regional Atlanta and Southeast customer base. To learn more about TriNet, including where interested individuals can apply for jobs, visit www.trinet.com/about-us/careers.

    “Dunwoody provides the ideal setting for TriNet, offering unparalleled access to the region’s talented workforce and a vibrant, mixed-use environment surrounded by top-tier restaurants, shops, and entertainment,” said Dunwoody Mayor Lynn Deutsch. “We are thrilled to welcome TriNet, whose investment will bring hundreds of new jobs to our community. This is another example of a growing company choosing Dunwoody.”

    “TriNet’s investment in DeKalb County is a testament to the strength of our workforce, our infrastructure, and our commitment to fostering a thriving business environment,” said DeKalb County CEO Lorraine Cochran-Johnson. “The creation of 750 new jobs will bring invaluable opportunities to our residents while reinforcing DeKalb as a premier destination for corporate growth and innovation. We proudly welcome TriNet to our community and look forward to the positive impact this expansion will have on our local economy and workforce.”

    “TriNet’s investment in DeKalb County will create jobs, drive innovation, and strengthen our economy,” said Katie Kirkpatrick, President and CEO of the Metro Atlanta Chamber. “With direct access to a pipeline of emerging talent from metro Atlanta’s renowned universities, TriNet is uniquely positioned to connect businesses with the next generation of HR and business professionals.” 

    Assistant Director of Statewide Projects John Soper represented the Georgia Department of Economic Development’s (GDEcD) Global Commerce team on this project in partnership with the City of Dunwoody, Decide DeKalb, Metro Atlanta Chamber, University System of Georgia, and Georgia Power.

    “TriNet’s decision to locate in Georgia reflects the confidence companies have in the state as a hub for innovation, talent, and long-term success,” said GDEcD Commissioner Pat Wilson. “Strong partnerships between industry, communities, and higher education drive economic growth. We’re excited about the opportunities this investment will bring and congratulate Dunwoody and DeKalb County on this milestone. Welcome to Georgia, TriNet!”

    About TriNet 

    TriNet provides small and medium-sized businesses (SMBs) with HR solutions and offers access to human capital expertise, benefits, risk mitigation, compliance, and payroll services, all enabled by industry-leading technology. TriNet’s suite of products also includes services and software-based solutions to help streamline workflows by connecting HR, benefits, employee engagement, payroll, and time and attendance. Rooted in more than 30 years of supporting entrepreneurs and adapting to the ever-changing modern workplace, TriNet empowers SMBs to focus on what matters most – growing their business and enabling their people. For more information, visit TriNet.com

    MIL OSI USA News

  • MIL-OSI USA: Rep. Simpson Secures Permanent Pay Fix for Wildland Firefighters

    Source: US State of Idaho

    Rep. Simpson Secures Permanent Pay Fix for Wildland Firefighters

    Washington, March 18, 2025

    WASHINGTON—Idaho Congressman Mike Simpson—Chairman of the House Interior and Environment Appropriations Subcommittee—secured a key provision in the Full-Year Continuing Appropriations and Extensions Act that prioritizes funding for Wildland Fire Management, including permanently addressing wildland firefighter pay. The Full-Year Continuing Appropriations and Extensions Act passed Congress on March 14 and was signed into law by President Trump.
    “The men and women who fight catastrophic wildfires across the nation deserve stability and adequate compensation for their courageous work,” said Rep. Simpson. “A permanent pay fix for our wildland firefighters will strengthen recruitment and retention while providing financial security to the first responders who protect our communities. I have long fought for this critical provision, and I am grateful to my colleagues and the Trump administration for their support in making it a reality.”
    Congressman Simpson’s Interior Appropriations bill included a permanent pay fix for federal wildland firefighters and passed the House in July 2024. Rep. Simpson also released an op-ed on why a permanent pay fix is needed.
    The full text of the bill is available here.

    MIL OSI USA News

  • MIL-OSI USA: Presidential Message on St. Patrick’s Day, 2025

    US Senate News:

    Source: The White House
    class=”has-text-align-left”>Today, I join the Irish-American community and citizens across our Nation in commemorating Saint Patrick’s Day—a time to celebrate the rich blessings of Irish culture and honor the life and legendary spirit of Saint Patrick, the patron saint of Ireland. More than 1,600 years ago, Saint Patrick ventured through the emerald fields and ancient valleys of Ireland to introduce the Gospel of Jesus Christ to the Celtic people.  Over his life, he courageously withstood years of persecution and threats on his life, yet continued to bring hearts, minds, and souls to the Christian faith. Legend holds that Saint Patrick used the three-leaved shamrock to explain the mystery of the Holy Trinity to Irish unbelievers and during 40 days of fasting, exiled all snakes and demons lurking on the Emerald Isle into the sea.  To this day, thanks to his life of ministry and service to God, Saint Patrick’s legacy lives on around the world. On this Saint Patrick’s Day, millions of Irish-Americans will celebrate the extraordinary life of Saint Patrick with festivities honoring Irish culture and our nation’s shared values of faith, family, and freedom.  As we observe Saint Patrick’s Day, we remember his life’s work, paying tribute to his sacrifices and cherishing the unique bond of friendship between the United States and Ireland. Happy Saint Patrick’s Day!

    MIL OSI USA News

  • MIL-OSI Global: People say they prefer stories written by humans over AI-generated works, yet new study suggests that’s not quite true

    Source: The Conversation – USA – By Martin Abel, Assistant Professor of Economics, Bowdoin College

    Artificial intelligence is expected to generate a growing share of the world’s creative work. karetoria/Moment via Getty Images

    People say they prefer a short story written by a human over one composed by artificial intelligence, yet most still invest the same amount of time and money reading both stories regardless of whether it is labeled as AI-generated.

    That was the main finding of a study we conducted recently to test whether this preference of humans over AI in creative works actually translates into consumer behavior. Amid the coming avalanche of AI-generated work, it is a question of real livelihoods for the millions of people worldwide employed in creative industries.

    To investigate, we asked OpenAI’s ChatGPT 4 to generate a short story in the style of the critically acclaimed fiction author Jason Brown. We then recruited a nationally representative sample of over 650 people and offered participants US$3.50 to read and assess the AI-generated story. Crucially, only half the participants were told that the story was written by AI, while the other half was misled into believing it was the work of Jason Brown.

    After reading the first half of the AI-generated story, participants were asked to rate the quality of the work along various dimensions, such as whether they found it predictable, emotionally engaging, evocative and so on. We also measured participants’ willingness to pay in order to read to the end of the story in two ways: how much of their study compensation they’d be willing to give up, and how much time they’d agree to spend transcribing some text we gave them.

    So, were there differences between the two groups? The short answer: yes. But a closer analysis reveals some startling results.

    To begin with, the group that knew the story was AI-generated had a much more negative assessment of the work, rating it more harshly on dimensions like predictability, authenticity and how evocative it is. These results are largely in keeping with a nascent but growing body of research that shows bias against AI in areas like visual art, music and poetry.

    Nonetheless, participants were ready to spend the same amount of money and time to finish reading the story whether or not it was labeled as AI. Participants also did not spend less time on average actually reading the AI-labeled story.

    When asked afterward, almost 40% of participants said they would have paid less if the same story was written by AI versus a human, highlighting that many are not aware of the discrepancies between their subjective assessments and actual choices.

    Why it matters

    Our findings challenge past studies showing people favor human-produced works over AI-generated ones. At the very least, this research doesn’t appear to be a reliable indicator of people’s willingness to pay for human-created art.

    The potential implications for the future of human-created work are profound, especially in market conditions in which AI-generated work can be orders of magnitude cheaper to produce.

    Even though artificial intelligence is still in its infancy, AI-made books are already flooding the market, recently prompting the authors guild to instate its own labeling guidelines.

    Our research raises questions whether these labels are effective in stemming the tide.

    What’s next

    Attitudes toward AI are still forming. Future research could investigate whether there will be a backlash against AI-generated creative works, especially if people witness mass layoffs. After all, similar shifts occurred in the wake of mass industrialization, such as the arts and crafts movement in the late 19th century, which emerged as a response to the growing automation of labor.

    A related question is whether the market will segment, where some consumers will be willing to pay more based on the process of creation, while others may be interested only in the product.

    Regardless of how these scenarios play out, our findings indicate that the road ahead for human creative labor might be more uphill than previous research suggested. At the very least, while consumers may hold beliefs about the intrinsic value of human labor, many seem unwilling to put their money where their beliefs are.

    The Research Brief is a short take about interesting academic work.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. People say they prefer stories written by humans over AI-generated works, yet new study suggests that’s not quite true – https://theconversation.com/people-say-they-prefer-stories-written-by-humans-over-ai-generated-works-yet-new-study-suggests-thats-not-quite-true-251347

    MIL OSI – Global Reports

  • MIL-OSI Global: Spanish speakers in Philadelphia break traditional rules of formal and informal speech in signs around town

    Source: The Conversation – USA – By Daniel Guarin, Adjunct professor, Temple University

    Spanish-language signs in Philadelphia contradict the grammar lessons most of us were taught. Daniel Guarin Buitrago, CC BY-ND

    I’ve discovered something fascinating about how Spanish speakers in Philadelphia address each other and communicate through public signs.

    The discovery is part of my research on language patterns in Philadelphia – and it challenges what many students learn in Spanish class.

    Remember those lessons where you learned to use the formal “usted” with strangers and “tú” with friends? Well, the signs on Philadelphia’s streets show that Spanish speakers actually use pronouns differently.

    In Spanish, unlike modern English, speakers must choose between different ways of saying “you” when addressing someone. Some Spanish dialects use up to four different forms – “tú,” “usted,” “vos” and the Colombian “sumercé” – but the Spanish speakers writing signs in Philadelphia have settled on just two: “tú” and “usted.”

    But here’s where it gets interesting: In Philadelphia, the choice between these forms doesn’t follow the traditional rules we all thought we knew.

    What the signs tell us

    After analyzing 250 signs across three neighborhoods with a significant number of Spanish speakers – the Golden Block, in North Philadelphia; Olney, in North Philadelphia; and South Philadelpha’s Italian Market corridor – and online spaces such as social media from different Hispanic organizations in the city, I found some surprising patterns in how these forms are used.

    Bilingual signs written in both Spanish and English tend to use the verb form associated with formal “usted” – imagine a store window announcing, “Please wear a mask / Por favor, utilice una mascarilla.” But signs written only in Spanish often use the informal “tú,” even when addressing strangers. This challenges the common assumption that we should always use formal language with people we don’t know.

    My study suggests the purpose of the message matters more than formality. When signs make requests, they typically use “usted.” But when they’re trying to persuade or invite people to do something, “tú” is more common. A sign saying, “Please wait to be seated” typically uses “usted,” while one saying “Join us for our grand opening!” uses “tú.”

    A city’s changing voice

    Philadelphia’s Spanish-speaking history stretches back to the late 1800s, with waves of migration bringing distinct varieties of the Spanish language to the city.

    Puerto Rican communities arrived in the 1940s and ‘50s, followed by Colombians in the ’70s and ’80s, and more recently, Mexican and Central American immigrants in the early 2000s.

    What’s particularly noteworthy is the absence of “vos” in these signs, despite Philadelphia’s significant Salvadoran population who traditionally use this form. This suggests newer communities are adapting their language in signs to match the more established Spanish-speaking groups in the city.

    Why this matters

    These findings tell us something important about language in immigrant communities.

    Rather than creating an entirely new dialect, Philadelphia’s Spanish speakers are finding common ground in how they communicate. It’s a reminder that language rules are often more flexible than we think, shaped by real-world use rather than textbook guidelines.

    The next time you’re walking through Philadelphia’s Spanish-speaking neighborhoods, pay attention to the signs around you. They’re not just giving directions or advertising services – they’re showing us how language evolves when different communities come together in a new home.

    Read more of our stories about Philadelphia.

    Daniel Guarin does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Spanish speakers in Philadelphia break traditional rules of formal and informal speech in signs around town – https://theconversation.com/spanish-speakers-in-philadelphia-break-traditional-rules-of-formal-and-informal-speech-in-signs-around-town-249444

    MIL OSI – Global Reports

  • MIL-OSI Security: Transnational Criminal Organization That Dispatched Thousands of Kilograms of Cocaine From the Venezuela/Colombia Border Dismantled

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    Tampa, FL – Acting United States Attorney Sara C. Sweeney announces the dismantlement of a transnational criminal organization (TCO) that operated out of La Guajira, a peninsula on the Venezuelan/Colombian border. From there, the organization dispatched thousands of kilograms of cocaine intended for the United States and Europe.

    Socrates Barros-Fince Transnational Criminal Organization

    Name

    Age

    Sentence Imposed

    Socrates Gabriel Barros-Fince, a/k/a “Chunchun,” “Chun,” “Indio,” “El Loco,” “Tawara,” “Chupo”

    45

    17 years, 6 months
    Cristian Camilo Cordoba-Cuesta, a/k/a “Cris,” “El Primo”

    37

    14 years
    Jorge Leonardo Diaz-Ramos, a/k/a “40,” “Numerito”

    35

    7 years, 3 months
    Santander Barros-Pulido, a/k/a “Pollo,” “Tio,” “Divino”

    57

    15 years, 8 months
    Nefer Alfonso Hinojosa-Larrada, a/k/a “El Negrito,” “Divino”

    45

    15 years, 8 months

     

    According to the plea agreements, the above-named individuals were part of a transnational criminal organization that dispatched cocaine-laden vessels to the Dominican Republic and Spain. From the Venezuela/Colombia border, the organization planned smuggling trips and recruited crewmembers for that purpose. It was foreseeable to the conspirators that some of the cocaine was intended for the United States.

    The investigation resulted in several seizures totaling over 6,700 kilograms associated with the organization that were prosecuted in the United States and abroad, to include:

    • Seizure of about 932 kilograms of cocaine near the Dominican Republic on August 15, 2016;
    • Interdiction of a go-fast vessel in the Caribbean Sea on November 9-10, 2016, smuggling about 700 kilograms of cocaine and prosecuted in the United States District Court for the District of Puerto Rico;
    • Interdiction of a go-fast vessel in the Caribbean Sea on October 4, 2018, smuggling over 450 kilograms of cocaine and prosecuted in the United States District Court for the Middle District of Florida;
    • Interdiction of the M/V KARAR carrying about 4,000 kilograms of cocaine off the coast of Galicia, Spain on April 25, 2020, resulting in the arrests of 15 crewmembers and a dozen Spanish organized crime members.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime.

    This prosecution is also part of an Organized Crime Drug Enforcement Task Forces (OCDETF) Panama Express Strike Force Initiative, whose mission is to disrupt and dismantle Transnational Criminal Organizations involved in large scale drug trafficking, money laundering, and related activities. The OCDETF Panama Express Strike Force is comprised of agents and officers from the Coast Guard Investigative Service, Drug Enforcement Administration, Federal Bureau of Investigation, and Homeland Security Investigations. The Colombian National Police, Spanish National Police, and Spanish Coast Guard provided critical investigative support. The Department of Justice’s Office of International Affairs and the Criminal Division’s Narcotic and Dangerous Drug Section’s Office of the Judicial Attaché in Bogotá assisted in the extradition of these defendants. The prosecution is being led by the Office of the United States Attorney for the Middle District of Florida. It is being prosecuted by Assistant United States Attorney Dan Baeza.

    MIL Security OSI

  • MIL-OSI NGOs: Greenpeace USA demands Congress defend the Constitution

    Source: Greenpeace Statement –

    Greenpeace US Democracy Director Folabi Olagbaj addresses the crowd at at DC rally . © Tim Aubry / Greenpeace

    WASHINGTON, D.C. (March 18, 2025) –  In response to the unlawful detainment of student activist and U.S. legal permanent resident Mahmoud Khalil, Greenpeace USA has signed on to a letter alongside a coalition of organizations urging Congress to uphold their oath to defend the Constitution. We believe Congress must act now to protect the rights of those they claim to represent, and demand the immediate release of Mr. Khalil from ICE custody. Greenpeace USA Democracy Campaign Director, Dr. Folabi Olagbaju said:

    “In my home country of Nigeria, I have seen climate activists killed for daring to fight for a clean and just future. Like Mr. Khalil, I was also a student activist – one who was forced to watch my fellow classmates be killed for peacefully and nonviolently protesting the military dictatorship. When I came to the United States, I believed its foundation in democracy meant that people could speak out without fear of persecution, detainment, or death. That is no longer the case.

    “The detention of Mahmoud Khalil sends a chilling message that dissent is no longer just being silenced, it is being punished. This is happening as the defenders of our freedom remain silent. As we’ve said before, universities have a responsibility of protection to uphold in regard to their students. Hiding behind statements about an obligation ‘to comply with the law’ holds no merit when those laws are being weaponized to violate constitutional and human rights. It is an egregious dereliction of duty to stand by as this administration attempts to illegally detain and deport a legal permanent resident of the United States.”Greenpeace USA encourages individuals to sign this petition to demand Mr. Khalil’s release and the dismissal of the threats against his legal status.


    Contact: Madison Carter, Greenpeace USA Senior Communications Specialist, [email protected]

    Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

    MIL OSI NGO

  • MIL-OSI Video: Illegal Aliens: Self-Deport with the CBP Home App

    Source: United States of America – The White House (video statements)

    ILLEGAL ALIENS: Download the CBP Home App – Now Available on All App Stores

    Do it the easy way, or get deported the hard way.

    https://www.youtube.com/watch?v=lc9IC2wUh8A

    MIL OSI Video

  • MIL-OSI USA: Natural gas-fired electricity generation during Texas cold snap just shy of record high

    Source: US Energy Information Administration

    In-brief analysis

    March 18, 2025

    Data source: U.S. Energy Information Administration, Hourly Electric Grid Monitor
    Note: ERCOT=Electric Reliability Council of Texas; CT=central time

    A February 19–22 cold snap increased electricity demand in Texas, and natural gas-fired electricity generation approached record highs for hourly and daily generation.

    Electricity demand in Texas typically peaks in the summer during heat waves and in the winter during cold snaps. During peaks in electricity demand, grid operators must have dispatchable electricity generation sources available to service net electricity load, which is the generation required to meet demand after subtracting supply from intermittent sources such as wind and solar. Surges in electricity demand in the region overseen by the Electric Reliability Council of Texas (ERCOT) are primarily supplied by natural gas-fired generation; ERCOT manages approximately 90% of the electricity load in Texas. In addition to demand surges, natural gas-fired generation rises to meet supply requirements during periods of lower wind and solar generation. In February’s cold snap, demand increased and combined wind and solar generation decreased.

    According to our Hourly Electric Grid Monitor, natural gas-fired electricity generation in the region increased to 48.8 gigawatts (GW) between 6:00 a.m. and 7:00 a.m. central time on February 20, 193% higher than the same time on February 18 (the day before the cold snap) and only 1% below the previous record set on January 16, 2024. Rising temperatures during the daylight hours on February 20 decreased electricity generation needs, which led to lower natural gas-fired generation during the daytime.

    Although hourly natural gas generation peaked on February 20, daily natural gas-fired electricity generation peaked during the cold snap on February 21 at 991.9 gigawatthours (GWh). Natural gas generation on February 21 was the second-highest daily level ever recorded in ERCOT and 1% less than the previous record set on December 23, 2022, according to our Hourly Electric Grid Monitor. Average daily natural gas-fired generation during the cold snap was 904.8 GWh, 411.1 GWh (83%) more than the February 2025 daily average and 575.6 GWh (175%) higher than the same period in 2024.


    Daily net electricity load peaked at 1,357.4 GWh on February 21 (85% higher than on February 18), of which 73% was served by natural gas-fired generation. Natural gas met 95% of the increase in net electricity load between February 18 and 22. Wind and solar generation decreased to 264.2 GWh on February 21, 52% less than on February 18, increasing the demand for natural gas-fired electricity generation.

    Although winter storms can disrupt production in the natural gas sector, supplies in Texas were sufficient during peak generation periods this February. System reliability was improved by weatherization standards approved in August 2022 following Winter Storm Uri in February 2021. The new standards required critical natural gas infrastructure, including pipelines servicing power plants, to be better protected against weather emergencies.

    Principal contributor: Jordan Young

    MIL OSI USA News

  • MIL-OSI: Summit Nanotech Corporation Closes US$25.5M Funding Round to Accelerate Commercialization of their Direct Lithium Extraction Technology

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 18, 2025 (GLOBE NEWSWIRE) — Summit Nanotech Corporation (“Summit”), a leader in sustainable lithium extraction technology, announced today that it has successfully closed US$25.5 million in funding led by Evok Innovations and BDC Capital’s Climate Tech Fund, with participation from Xora Innovation, Capricorn Investment Group, Mitsui Kinzoku – SBI Material Innovation Fund, and LG Technology Ventures.

    “This funding comes at a pivotal time for Summit as we strengthen our strategic partnerships and transition from demonstration to full-scale commercial design,” said Amanda Hall, Founder and CEO. “We are ready to provide our industry-leading solution to lithium mining companies who want to maintain a strong focus on economics and environmental responsibility.”

    Summit’s innovative direct lithium extraction (“DLE”) technology, denaLi™, combines system and fully integrated water recycling. Data analytics and AI are harnessed for advanced process control that ensures reduced water use, maximum sorbent lifespan, maximum lithium recovery and leading on-stream reliability, driving levelized lithium costs down. By unlocking more resources economically, Summit’s technology will strengthen international supply chains.

    Nobuyoshi Sogabe, General Manager at Mitsui Kinzoku, expressed enthusiasm about the investment: “We are committed to make an effort to achieve a lithium supply chain from brine by collaborating our advanced material synthesis, processing, and scaling technologies with Summit’s innovative denaLi™ system, thereby contributing to the realization of a sustainable society.”

    In the last six months, Summit has achieved key milestones, including commissioning a demonstration plant in Northern Chile, successful sorbent qualification results with a major lithium mining company, and launching their proprietary data analytics platform. With strong investor backing and a commitment to innovation and cost reduction, Summit is well-positioned to drive the future of sustainable lithium extraction.

    “The demand for electric vehicles will soon outpace growth in lithium supply. Summit’s technology addresses this challenge by optimizing lithium extraction from brine to produce high-quality lithium at a lower cost,” said Cheri Corbett, Partner at BDC Capital’s Climate Tech Fund. “We need to get more competitive lithium to market if we are to meet the global demand for electric vehicles. That’s why we’re working with results-driven leaders like Amanda and her team. A great example of a growth-minded Canadian business, exactly the kind that BDC is designed to help get to the next level.”

    About Summit Nanotech Corporation

    Summit is a leading provider of direct lithium extraction (DLE) technology for the lithium mining industry. Founded in 2018 and headquartered in Calgary, Alberta, Summit has invented a patented sorbent, DLE process technology, and data analytics platform that, when combined, improves project economics by over $1,000 per tonne LCE and unlocks additional plant capacity compared to competing DLE technologies. Its technology selectively and efficiently captures lithium ions from brine which, after conversion, can be sold directly to a battery manufacturer. Summit partners with mining and oil and gas companies to accelerate and optimize their lithium resources.

    As the world shifts toward electrification, Summit is committed to building a cleaner, more responsible lithium supply chain for future generations.

    Learn more at summitnanotech.com.

    Media Contact:

    Kristen Gray
    Manager, Communications and Investor Relations
    media@summitnanotech.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/20d7e71d-1bb4-4c64-b152-1b74dfa09897

    The MIL Network

  • MIL-OSI: Fullstory Has Successful Second Half: Sees Sustained Enterprise Customer Growth, Launches Innovation Solutions with Google, and Becomes First In Industry Certified In Responsible AI

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, March 18, 2025 (GLOBE NEWSWIRE) — Fullstory, a leading behavioral data company, today announced several milestones the company reached in the second half of its fiscal year, including customer growth in key market segments, co-developed partner solutions, and certification for responsible AI.

    Following a strong first half, Fullstory’s momentum carried through the remainder of its year, and the company continues to see an increasing appetite for digital behavioral data. Its recent research findings highlighted the significant opportunity for enterprises to improve customer experiences and anticipate buyer needs through AI-driven personalization, a task that hinges on nuanced customer behavioral insights made available only through this unique data source.

    Customer and Partner Momentum
    Fullstory continues to see noteworthy growth in its enterprise customer base. Large accounts have been its fastest-growing customer segment for the past six consecutive quarters, with sustained double-digit growth for the past 14 consecutive quarters. In the second half of its fiscal year, Fullstory added several large and well-respected organizations to its customer portfolio, including: one of the largest crowdfunding platforms; a top 10 airline; one of the largest cruise lines; a Fortune 100 technology company; a high-end fashion house; a prominent online retail styling service; a Fortune 500 bank; a luxury women’s retailer; and one of the largest online gaming and sports betting companies in North America.

    Its inaugural customer awards, announced in January 2025, included winners across industries. The winners were Autodesk—Customer Experience Champion; Chipotle—Analytics In Action; LTK—AI Innovator; NOBULL—Fastest Time To Value; Patagonia—Data-Driven Innovator; PepsiCo—Cross-Platform Creator; and Pizza Hut—Digital Transformation Leader.

    Fullstory also continued to deepen its relationship with key partners across the ecosystem, activating its digital behavioral data in unique ways to deliver value to customers. In the fall of 2024, Fullstory and Google launched a number of Innovation Solutions that address specific mission-critical use cases across industries:

    Fullstory, alongside NVIDIA and Palo Alto Networks, will present additional top-of-mind use cases, like monetizing AI agents, at Google Cloud Next in April 2025.

    Leadership Appointments
    In addition to the appointments of President Jason Wolf and Chief Product and Technology Officer Claire Fang in the first half of its year, Fullstory added notable roles, including:

    • Chief Customer Officer: Adam Spisak, who has nearly two decades of experience and a depth of knowledge in customer success, was appointed Chief Customer Officer.
    • Chief Revenue Officer: Phil Simpson, a longtime Fullstory employee and former Salesforce sales executive, was appointed Chief Revenue Officer.

    Industry Recognition
    Fullstory continued to lead and innovate by being the first in the digital behavioral data analytics space to receive ISO/IEC 42001, the accredited certification for responsible AI.

    “We are honored to be not only the first in our industry but also amongst some of the largest and most trusted companies in the world to receive ISO/IEC 42001 certification,” said Mark Stanislav, vice president of security engineering & governance, risk, and compliance at Fullstory. “The power of AI must be matched with responsible, early security diligence to allow exciting new solutions to meet the expectations that customers should place on their vendors.”

    To learn more about Fullstory, visit www.fullstory.com.  

    About Fullstory
    Fullstory is on a mission to help technology leaders make better, more informed decisions by injecting behavioral data into their analytics stack. The company’s patented technology unlocks the power of quality behavioral data at scale by transforming every digital visit into actionable data and insights. With Fullstory, enterprises can get closer to their customers’ true sentiments and intentions to predict what they want, create personalized experiences, and drive conversion, loyalty, and revenue. Fullstory is headquartered in Atlanta, USA, with regional teams across North America, EMEA, and APAC. For more information, visit www.fullstory.com.

    Fullstory Media Relations
    Alexandra King
    Director of Communications
    pr@fullstory.com 

    The MIL Network

  • MIL-OSI: Pivotal Appoints Marjorie Dickman to its Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, March 18, 2025 (GLOBE NEWSWIRE) — Pivotal, the market leader in light electric vertical takeoff and landing (eVTOL) aircraft, today announced the appointment of Marjorie Dickman to its board of directors. A global government affairs and geopolitical expert, Ms. Dickman is consistently recognized among the nation’s top public policy executives and top women in technology. For decades, she has led corporate strategies that navigate complex regulatory landscapes in the U.S. and abroad – creating opportunities, managing risk and growing market share.

    “We are thrilled to welcome Marjorie to Pivotal’s Board of Directors. Her wisdom of U.S. and global government affairs and her deep business acumen in the emerging tech and transportation sectors are invaluable to our growth,” said Ken Karklin, Chief Executive Officer, Pivotal. “This is an exciting time for Pivotal. Our aircraft offer a new way to experience flight, and our aero architecture is ready for public safety and defense use cases.”

    “I am excited to join the board and delighted that my extensive experience in tech and transportation innovation aligns with Pivotal’s mission,” said Marjorie Dickman. “I am especially pleased that my regulatory expertise in navigating global market access and competition can be an asset for Pivotal’s growth in the eVTOL market.”

    About Marjorie Dickman
    Ms. Dickman is a highly seasoned government affairs expert and attorney, based in Washington, D.C.

    She built her career leading government engagement and communication strategies for multinational technology companies – with a focus on rapidly evolving sectors like AI, automated and connected vehicles, cybersecurity, data privacy, Internet of Things (transport, energy, manufacturing), and secure communications for defense and first responders. Her track record of success building trusted government relationships, influencing public policy, and navigating regulatory and legal frameworks has earned numerous accolades. Examples include “Tech Titan” Policy Influencer, Global HERoes Role Model, and Most Powerful Women in Tech.

    As BlackBerry’s first Chief Government Affairs and Public Policy Officer and direct report to the CEO/Executive Chairman, Ms. Dickman opened the company’s Washington, D.C. office in 2020. She built BlackBerry’s Global Government Affairs and Public Policy organization from the ground up, including the company’s Government Relations and Technical Standards teams operating in the U.S., Canada, EMEA, the UK, LATAM, and APJ.

    Prior to BlackBerry, Ms. Dickman led a highly successful 16-year career at Intel Corporation – most recently launching and leading global government affairs for two of Intel’s most ‘disruptive’ businesses: Automated Driving and the Internet of Things – where she managed teams across the U.S., EMEA, China and Japan. Prior to Intel, she practiced law at a prominent Washington firm, specializing in telecom regulation and M&A.

    Ms. Dickman has been appointed to the Boards of the Eno Center for Transportation, Consumer Technology Association (CES), U.S. Chamber of Commerce’s Technology Engagement Center and Cybersecurity Leadership Council, No. Virginia Technology Council, and George Mason University’s College of Engineering and Computing. She is an honors graduate of Georgetown University Law Center (J.D.) and Duke University (A.B., Public Policy).

    About Pivotal
    Pivotal designs, develops, and manufactures light eVTOL aircraft. An industry pioneer, Pivotal is renowned for the BlackFly, the first light eVTOL to be commercially available and delivered to customers in the United States. In October 2023, Pivotal introduced its next generation production aircraft, the Helix, and in January 2024 began sales of the Helix. The company’s distinctive tilt-aircraft architecture and scalable technology platform have been under continuous improvement for well over a decade, and today, Pivotal has the most mature technology in the light eVTOL category. Efficient, compact, and simple, Pivotal vehicles are designed for a wide range of consumer, public safety, and defense applications. The company is headquartered in Palo Alto, CA. For videos and more information, visit https://pivotal.aero.

    Media Contact:
    Heidi Groshelle
    press@pivotal.aero

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7fd7ffc9-f2e7-429c-b5b0-55ff0a50da3d

    The MIL Network

  • MIL-OSI: Pacific AI Launches to Tackle Growing AI Legal Risks with a Free AI Policy Suite

    Source: GlobeNewswire (MIL-OSI)

    LEWES, Del., March 18, 2025 (GLOBE NEWSWIRE) — Pacific AI, a new company focused on helping organizations deliver legal and compliant artificial intelligence (AI) systems, has launched today. Created by the CEO of John Snow Labs, Pacific AI was established to address the rapidly changing regulatory landscape. The company offers a free AI Policy Suite, as well AI Governance Certification to guarantee responsible use of AI in accordance with the most current laws and regulations.

    The AI Policy Suite is a comprehensive, continuously updated set of policies designed to ensure compliance with more than 80 AI-related laws, regulations, and standards across national, state, and international jurisdictions. By translating complex legal and regulatory requirements into clear, actionable policies within one, central framework, the AI Policy Suite:

    • Eliminates compliance overhead by keeping organizations up to date with evolving laws, from NIST, ISO, and the EU AI Act, down to state and local laws
    • Translates legal requirements into practical controls and policies
    • De-duplicates overlapping obligations from multiple regulatory sources

    To accelerate industry-wide adoption and encourage community feedback, Pacific AI is making the AI Policy Suite available for free. The suite will be introduced in an upcoming webinar at 2pm ET on Wednesday, March 19. Hosted by Pacific AI CEO David Talby and AI Governance Lead Maria Baranchikova, the event will provide insights into today’s AI governance landscape and how to best mitigate risks.

    “In 2024, lawmakers in 45 states introduced 635 AI-related bills, of which 99 became laws. In the healthcare industry alone, there were an additional 13 guidance frameworks, not even inclusive of all new regulatory rules and industry standards,” said Talby. “Compliance requirements are emerging faster than teams with even the best intentions can track. Pacific AI aims to reduce legal liability, financial, and reputational risks by providing a framework that simplifies AI compliance so businesses can focus on growing and innovating.”

    Pacific AI also offers an AI Governance Certification, available when organizations adopt AI policies, implement AI governance, and pass a Pacific AI audit. With certification, companies can attest that an AI governance framework has been implemented and that its AI services are compliant across the US. Companies like Opptly are already experiencing value in certification for their proprietary AI platform.

    “At Opptly, ensuring compliance with evolving AI regulations is a top priority. We recognize the need for proactive solutions to keep pace with rapid changes. Pacific AI’s Governance Certification ensures our AI platform meets the highest compliance standards, enhancing risk management and strengthening customer trust,” said Lori Hock, CEO, Opptly.

    For an introduction to the Pacific AI Policy Suite, register for our webinar. To learn more about Pacific AI, visit https://pacific.ai/.

    About Pacific AI
    Pacific AI is dedicated to helping organizations deliver AI systems that comply with the rapidly evolving regulatory landscape in the USA. Whatever your starting point, Pacific AI can help you reach the next level of AI governance, implement tools and controls for compliance, or audit and certify what you’ve already built. To learn more, visit: https://www.pacific.ai.

    Contact
    Gina Devine
    Head of Communications
    Pacific AI Corp.
    gina@pacific.ai

    The MIL Network

  • MIL-OSI: Urgently Secures Multi-Year Contract with On-Demand Towing and Roadside Assistance Company

    Source: GlobeNewswire (MIL-OSI)

    VIENNA, Va., March 18, 2025 (GLOBE NEWSWIRE) — Urgent.ly, Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, today announced a new multi-year customer partner contract with an innovative provider of on-demand towing and roadside assistance. When the partnership officially launches this month, Urgently will begin providing light duty towing, technology and related services to on-demand roadside customers of the new customer partner across the U.S. and Canada.

    Under the customer parter contract, Urgently’s connected assistance platform will power the customer partner’s services, enhancing their roadside assistance offerings with streamlined operations and exceptional assistance experiences. As a tech-forward company, Urgently will deliver its comprehensive technology stack and capabilities, to meet demand for safe, quick and reliable assistance on the road.

    This collaboration is expected to grow Urgently’s volume and related revenue, and enable the new customer partner to elevate its customer experience with access to Urgently’s network of trusted service providers. By expanding its footprint in North America, Urgently continues to solidify its position as an industry leader committed to delivering exceptional roadside experiences powered by technology.

    “We are thrilled to launch this new partnership with an organization that shares Urgently’s deep commitment to providing the highest quality customer service,” said Matt Booth, Chief Executive Officer of Urgently. “Through this partnership, we will combine our shared strengths in the use of innovative technology and on-demand roadside assistance. We believe this collaboration will create tremendous value for customers, and allow us to continue expanding our presence across North America.”

    For more information about Urgently’s roadside and mobility assistance solutions visit https://www.geturgently.com/industry-solutions.

    About Urgently

    Urgently is focused on helping everyone move safely, without disruption, by safeguarding drivers, promptly assisting their journey, and employing technology to proactively avert possible issues. The company’s digitally native software platform combines location-based services, real-time data, AI and machine-to-machine communication to power roadside assistance solutions for leading brands across automotive, insurance, telematics and other transportation-focused verticals. Urgently fulfills the demand for connected roadside assistance services, enabling its partners to deliver exceptional user experiences that drive high customer satisfaction and loyalty, by delivering innovative, transparent and exceptional connected mobility assistance experiences on a global scale. For more information, visit www.geturgently.com.

    Forward-Looking Statements
    This press release contains or may contain “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or Urgently’s future financial or operating performance. Such statements are based upon current plans, estimates and expectations of management of Urgently in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Forward-looking terms such as “may,” “will,” “could,” “should,” “would,” “plan,” “potential,” “intend,” “anticipate,” “project,” “predict,” “target,” “believe,” “continue,” “estimate” or “expect” or the negative of these words or other words, terms and phrases of similar nature are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. All statements, other than historical facts, including, without limitation, statements regarding Urgently’s new customer partner contract and the expected growth in Urgently’s volume and related revenue, are based on the current assumptions of Urgently’s management and are neither promises nor guarantees, but involve a significant number of factors that may cause our actual performance or achievements to be materially different from any future performance or achievements stated or implied by the forward-looking statements. For factors that could cause actual results to differ materially from the forward-looking statements in this press release, please see the risks and uncertainties detailed in our filings with the Securities and Exchange Commission (“SEC”), including in our annual report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on March 14, 2025, our quarterly reports on Form 10-Q and other filings and reports that we may file from time to time with the SEC. All forward-looking statements reflect Urgently’s beliefs and assumptions only as of the date of this press release. Urgently undertakes no obligation to update forward-looking statements to reflect future events or circumstances.

    Contacts:
    For Press: media@geturgently.com
    For Investors: investorrelations@geturgently.com

    The MIL Network

  • MIL-OSI: Haman Group, one of The Largest Inbound Tour Operators in Scandinavia, Selects Flywire as its Exclusive International Payments Partner

    Source: GlobeNewswire (MIL-OSI)

    Flywire delivers streamlined, secure payment experiences for Authentic Scandinavia and Authentic Europe, two of the Haman Group’s leading travel brands

    Flywire integrates with Haman Group’s booking system to streamline payment processing and reconciliation for Haman’s businesses and international guests

    BOSTON, March 18, 2025 (GLOBE NEWSWIRE) — Today, Haman Group – one of the largest inbound tour operators in Scandinavia, announced it has selected Flywire Corporation (Nasdaq: FLYW), a global payments enablement and software company, as the exclusive international payments partner for two of the Haman Group’s leading brands, Authentic Scandinavia and Authentic Europe. The partnership will enhance the payment experience for Haman Group’s growing international clientele and provide seamless integration into the company’s booking system for efficient payment processing and reconciliation.

    Recognized as one of the most innovative and respected travel brands in Scandinavia, Haman Group offers a wide range of services for travel agencies, groups and independent travelers. From personalised itineraries and specially curated tours to guaranteed departures, Haman is backed by more than 60 years of experience in creating unforgettable trips to Scandinavia and Europe and is supported by its five travel brands including Haman Scandinavia, Cities+ToursTerra Nova ScandinaviaAuthentic Scandinavia, and Authentic Europe.

    Prior to Flywire, Haman Group relied on a legacy payments system which created inefficiencies for the organization and guests alike. For example, manual invoicing didn’t provide clients with enough visibility into additional fees, and additional charges due to FX rates and fees sometimes surprised travelers when they got their bank or credit card statements.

    Seeking to overhaul the payments process for their international guests, Haman Group selected Flywire for a few key reasons:

    • Integrated with bookings system: Processing and reconciling payments has been streamlined because Flywire is integrated with Haman Group’s booking system. Payment reminders are sent automatically, and all payment processes are digitized.
    • Elevated guest experience: Flywire provides choice, convenience, and support. Haman Group’s guests pay in their local currency, with competitive exchange rates, and have access to 24×7 live support. Travelers are also confident their payments are secure.
    • Diverse payment options: Flywire automates the currency conversion, and the company receives 100% of their payments in the currency of their choice.

    “At Haman Group, our focus is on providing our guests with once in a lifetime travel experiences,” said Trude Sivertsen, director of sales and operations at Authentic Scandinavia. “And we know that these experiences start at the very first interactions with our guests, including their very first payment experiences. We feel confident that Flywire is the optimal extension of our brand, offering our guests flexible, localized payment options, and ensuring their booking and payment experience is effortless and secure. And as a critical benefit, we can optimize our internal processes, giving us more time to focus on crafting even more memorable travel experiences.”

    “We are honored to partner with The Haman Group and deliver exceptional payment experiences for their growing footprint of travel businesses,” said Colin Smyth, SVP and GM, Travel. “With Flywire, Haman Group can both meet the needs of their clients, and gain a number of operational efficiencies to help them focus on running their organization. And given Haman Group’s extensive reach throughout Scandinavia, Flywire is thrilled to scale our capabilities across the region.”

    About Flywire

    Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.

    Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.

    Flywire supports more than 4,500 clients with diverse payment methods in more than 140 currencies across more than 240 countries and territories around the world. The company is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on X , LinkedIn and Facebook.

    About Haman Group

    Haman Group (est. 1964) offers a wide range of services for travel agencies, groups and independent travellers. From personalised itineraries and specially curated tours to guaranteed departures, we have over 50 years of experience in creating unforgettable trips to Scandinavia and Europe.

    The following five companies are part of Haman Group: Haman Scandinavia, Authentic Scandinavia, Authentic Europe, Terra Nova Scandinavia and Cities+Tours. Our colleagues are spread across five different offices. Our main offices are situated in Oslo and in Stockholm, and we also operate field offices in Tromsø, Gothenburg, Ramlösa and Cologne.

    Media Contact
    Sarah King
    Media@Flywire.com

    Investor Relations Contact
    Masha Kahn
    IR@Flywire.com

    Forward-Looking Statements

    This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire’s expectations regarding the benefits of its travel clients and business, Flywire’s business strategy and plans, market growth and trends. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire’s forward-looking statements include, among others, the factors that are described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Flywire’s Annual Report on Form 10-K for the year ended December 31, 2024, which is on file with the Securities and Exchange Commission (SEC) and available on the SEC’s website at https://www.sec.gov/. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    The MIL Network

  • MIL-OSI: CURRENC Group and ARC Group Jointly Launch $100 Million AI-Focused Infrastructure & Investment Fund

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 18, 2025 (GLOBE NEWSWIRE) — CURRENC Group Inc. (Nasdaq: CURR) (“CURRENC” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced its plan to form an AI-focused investment fund in collaboration with ARC Group, a leading global investment bank (“CURR-ARC AI Fund 1” or the “Fund”). As the first of a series of initiatives in CURRENC’s strategic AI investment blueprint, CURR-ARC AI Fund 1 aims to raise up to $100 million and will invest in AI data center (AIDC), green energy, and computing power development, driving AI innovation and digital transformation globally.

    The Fund’s general partner is CURR-ARC GP Limited, a joint venture company owned 80% by CURRENC and 20% by ARC Group.

    The investment focus of the Fund will be as follows:
    1. Approximately 80% of the Fund will be dedicated to global investments in AI computing power and green energy infrastructure projects, including the first phase of CURRENC’s planned 500MW hyperscale AIDC in Malaysia.
    2. Approximately 20% of the Fund will target emerging enterprises in the fields of AI ecosystems, fintech, and AI-driven solutions.

    The Fund will benefit from the leadership of a seasoned team of technology and finance experts, as well as experienced asset managers and AIDC operators. Together, they will execute the Fund’s investment strategy.

    “The CURR-ARC AI Fund 1 is a transformative initiative in our strategy to create a robust, sustainable ecosystem that spans AIDCs, green energy, fintech, and AI-driven solutions,” said Alex Kong, Founder and Executive Chairman of CURRENC. “It will allow us to support both established leaders and emerging disruptors across industries, simultaneously fueling innovation in AI and sustainable technology. We’re confident that this investment will enable us to harness AI’s full potential and propel the digital transformation globally, creating substantial value for our stakeholders and society as a whole.”

    Abraham Cinta, CEO of ARC Group, added, “We are thrilled to partner with CURRENC Group to advance our shared vision for the future of global industries. With our combined expertise in technology and finance, we are well-positioned to shape the next generation of AI innovations, green energy infrastructure, and scalable computing solutions that will drive sustainable global development.”

    About CURRENC Group Inc.
    CURRENC Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered tools designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies, cryptocurrency exchanges and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.

    About ARC Group
    ARC Group is a globally based investment bank and management consultancy firm, specializing in bridging Asia and the West. Our services encompass a full spectrum of financial solutions, including IPOs, M&A, financing, venture capital, and SPACs. ARC Group also includes an independent consulting division dedicated to addressing the unique challenges faced by companies operating across both Asian and Western markets. Headquartered in Hong Kong, with offices across Mainland China, the USA, Malaysia, Indonesia, Vietnam, India, Sweden, and the UAE, we are well-positioned to provide cross-border financial and advisory services.

    Safe Harbor Statement
    This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

    Investor & Media Contact
    CURRENC Group Investor Relations
    Email: investors@currencgroup.com

    The MIL Network

  • MIL-OSI Video: Army’s legacy: The early years | Army History | U.S. Army

    Source: US Army (video statements)

    For 250 years the Army has been critical not just in the defense of the nation, but also in its formation and stability. Check out the first of this four-part series as we look back through the history of the Army.

    by Army Multimedia and Visual Information Division
    About the U.S. Army:

    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.

    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L

    Connect with the U.S. Army online:
    Web: https://www.army.mil
    Facebook: https://www.facebook.com/USarmy/
    X: https://www.twitter.com/USArmy
    Instagram: https://www.instagram.com/usarmy/
    LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military

    https://www.youtube.com/watch?v=B1epvTAvhOw

    MIL OSI Video

  • MIL-OSI: Swiss Re to sell 10.05% stake in Definity Financial for CAD 655 million

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, March 18, 2025 (GLOBE NEWSWIRE) — Swiss Re announced an agreement to sell 11,647,217 common shares (“Common Shares”) of Definity Financial Corp. (TSX: DFY) (“Definity”) representing approximately 10.05% of the issued and outstanding Common Shares as of March 17, 2025 (the “Offering”).

    The Common Shares are being sold by Swiss Re Investment Holdings Company Ltd on an underwritten block trade basis at a price of CAD 56.20 per Common Share for aggregate cash proceeds of approximately CAD 655 million. The Offering has been underwritten by CIBC Capital Markets and National Bank Financial Inc. (the “Underwriters”) and is expected to close on March 19, 2025.

    Immediately before the Offering, Swiss Re owned 11,647,217 Common Shares, representing approximately 10.05% of the issued and outstanding Common Shares. After giving effect to the Offering, Swiss Re will no longer hold any Common Shares.

    “We are very impressed with the significant progress Definity has made since its IPO in November 2021 and continue to value the ongoing business relationship with the Company. Swiss Re continues to be a strong believer in Definity’s path towards becoming a leading P&C insurer in Canada,” said Andreas Berger, Swiss Re’s Group Chief Executive Officer. “The sale was done in the context of a regular review and rebalancing of Swiss Re’s investment portfolio and is consistent with the Group’s overall investment strategy across equity and alternative investments.”

    Swiss Re’s head office is located at Mythenquai 50/60 8002 Zurich, Switzerland. Swiss Re will file an early warning report with the securities regulators in each of the provinces and territories of Canada with respect to the foregoing matters pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the Common Shares sold, a copy of which will be available under Definity’s profile on SEDAR+ at www.sedarplus.ca. For further information and/or a copy of the related early warning report to be filed, please contact James Raphael at +1 212 317 5428. Definity’s head office is located at 111 Westmount Road South, Waterloo, Ontario N2L 2L6.

    About Swiss Re
    The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 70 offices globally.

    Media Relations
    Zurich
    Telephone +41 43285 7171

    New York
    Telephone +1 914 828 6511

    Investor Relations
    Telephone +41 43 285 4444

    Swiss Re Ltd
    Mythenquai 50/60
    CH-8022 Zurich
    Telephone +41 43 285 2121

    www.swissre.com
    @SwissRe

    Contact person
    Mark Bonthrone
    Mark_Bonthrone@swissre.com
    +1 646 662 0212

    Additional information
    For press releases, logos and photography
    of Swiss Re executives,
    directors or offices go to
    www.swissre.com/media

    The MIL Network

  • MIL-OSI USA: Bessie Margolin, Labor Lawyer

    Source: US Global Legal Monitor

    Bessie Margolin was not born to privilege; she was left at the Jewish Orphans Home of New Orleans at four. She was fortunate to have a foundational education at the Newman School. She was admitted to Tulane Law School, the only woman in her class, and graduated with a liberal arts degree and a law degree, with honors, in 1930. The strong recommendations that she had from Tulane got her admitted to Yale Law School, where she worked as a research assistant and earned the Sterling Fellowship, the first woman to be awarded that honor. She graduated from Yale with a J.S.D. in May 1933. She immediately began working as a researcher for the Inter-American Commission of Women, mainly writing and conducting her research at the Library of Congress during that summer. (Trestman, 38.)

    Her first permanent post-degree position was at the new agency, the Tennessee Valley Authority (TVA), at a time when women formed only 2% of the legal profession. (Trestman, 41.) While at the TVA, where again she was the first female lawyer, she worked on several key cases, including a few that challenged the TVA’s existence, such as Ashwander v. Tennessee Valley

    KF26 .L3 1963e United States. Congress. Senate. Committee on Labor and Public Welfare. Equal Pay Act of 1963.
  • Earl Warren papers, box 832, Remarks, Dinner Marking Retirement of Bessie Margolin, Washington Hilton Hotel, January 28, 1972.
  • JK671.C52  Civil Service Journal.
  • KF3306 2016 The Employment Law Sourcebook / Eleanor L. Grossman, J.D., and Robert B. McKinney, J.D., of the staff of the National Legal Research Group, Inc., editors.

Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

MIL OSI USA News

  • MIL-OSI: Delinea Nears $400M, Demonstrating Strong Growth In Securing AI with Advanced Identity Security

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, March 18, 2025 (GLOBE NEWSWIRE) — Delinea, a pioneering provider of solutions for securing human and machine identities through centralized authorization, today announced the close of its 2024 fiscal year with several key achievements, cementing its leadership in identity security. The company delivered annual recurring revenue (ARR) approaching $400 million, with recurring revenue now comprising 95% of Total GAAP Revenue. Additionally, Delinea continued to grow its SaaS ARR, representing the majority of total ARR, demonstrating the value its cloud-native platform brings to its customers, particularly as organizations require advanced identity security solutions to secure AI-driven systems.

    Delinea also continued to achieve an operating profile that reflects its ability to drive profitable growth, showcasing its strength in executing a sustainable business model. To build on this momentum and drive continuous innovation in a rapidly evolving market, the company is expanding its global footprint to Mexico City. This strategic investment allows the company to build centralized teams, increase capacity, and scale operations more efficiently, strengthening its position as a leader in identity security.

    “2024 was a transformative year for our industry, with AI rapidly reshaping how organizations operate and intensifying the need for advanced identity security,” said Art Gilliland, Chief Executive Officer of Delinea. “We’re committed to staying ahead of this shift, helping customers secure AI-driven systems and adapt to emerging threats. Expanding to Mexico City is a key part of our strategy to foster innovation, enhance collaboration, and scale operations, ensuring we continue to deliver the solutions our customers need to thrive in an evolving digital landscape.”

    To further accelerate its growth and innovation roadmap, Delinea has strengthened its leadership team with key executive hires:

    • Chris Kelly, President – A visionary leader with deep expertise in enterprise software growth and strategy, bringing valuable experience from his tenure at CyberArk.
    • Pierre Mouallem, Chief Information Security Officer (CISO) – A seasoned security expert dedicated to strengthening Delinea’s cybersecurity leadership with a proven track record from SailPoint.
    • Missy Ballew, Chief People Officer – An accomplished people leader with extensive experience scaling high-growth SaaS companies, including time at Hewlett Packard, focused on driving talent and culture to support Delinea’s expansion.

    “Our execution remains strong, driven by high market demand for our solutions,” said Stephanie Reiter, Chief Financial Officer at Delinea. “With ARR approaching $400 million and our SaaS business at the forefront, we are well-positioned to continue shaping the future of identity security for modern enterprises – especially as AI adoption accelerates.”

    To learn more about the Delinea Platform, visit: https://delinea.com/products

    About Delinea

    Delinea is a pioneer in securing human and machine identities through intelligent, centralized authorization. Our solutions empower organizations to seamlessly govern interactions across the modern enterprise, ensuring robust security while maintaining operational efficiency. Leveraging AI-powered intelligence, Delinea’s cloud-native Identity Security Platform applies context across the entire identity lifecycle — from cloud and infrastructure to data, SaaS, and AI – enabling real-time threat detection and rapid response. By securing all users and identities — including workforce, IT admin, developers, and machines — Delinea guarantees secure access regardless of location or device. With deployment in weeks, not months, 90% fewer resources to manage than the nearest competitor, and a guaranteed 99.99% uptime, Delinea delivers security and efficiency without compromise. Learn more about Delinea on delinea.com, LinkedIn, X, and YouTube.

    Media Contact 
    Justin Ordman
    Corporate Communications Director 
    justin.ordman@delinea.com 

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d824fd94-e074-4f61-a7ab-3951dbbc0d72

    The MIL Network

  • MIL-OSI: Nydus Systems Informatica Acquired by Volaris Group

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 18, 2025 (GLOBE NEWSWIRE) — Volaris Group announced the acquisition of Nydus Systems Informatica. Based in São Paulo, Brazil, with a branch in Recife, Brazil, Nydus specializes in Human Resources Management Systems & Payroll solutions tailored to small-to-medium sized businesses across Brazil.

    “We are thrilled to welcome Nydus, a reputable company with more than 34 years in the marketplace!” says Ricardo Pinho, Volaris Group LATAM Group Manager. “With Nydus’ innovative HR solutions, engaged team and a shared commitment to excellence, we look forward to working together to enhance service for our clients, drive business growth and achieve success.”

    Founded in 1991 by Adalberto Argente and Lominita Silva, Nydus has evolved into a trusted leader in the Brazilian HR technology sector. Their platform simplifies payroll processing, benefits administration, and recruitment, ensuring compliance with Brazil’s LGPD regulations and union standards. Additionally, Nydus caters to the BPO market, providing comprehensive payroll outsourcing services.

    “After more than three decades of entrepreneurial journey, I realized that, although Nydus was constantly growing, we needed a new boost to expand our horizons. That’s when the opportunity to participate in Volaris’s Group acquisition process emerged, and throughout this journey, I became increasingly certain that I was on the right path,” explains Adalberto Argente, Nydus Founder, and CEO. “I am excited about the opportunity to join the Volaris Group and share experiences with other entrepreneurs in a global environment. Being part of such a solid organization can help accelerate our innovation process and take us to levels we’ve dreamed of reaching. Knowing that Nydus will have a permanent home within this esteemed organization gives me confidence that our legacy will be preserved and enhanced. Now, alongside Volaris’s Group leaders, we can continue to deliver exceptional value to our clients and partners, with even more resources and possibilities,” concludes Adalberto Argente.

    Nydus Systems Informatica will continue to operate under the leadership of CEO & Founder Adalberto Argente.

    About Nydus Systems Informatica
    Nydus serves a diverse clientele spanning various industries including construction, transportation, healthcare, business services and retail. In 2024, the company was nominated as a Best HR Supplier, a testament to its commitment to excellence.

    About Volaris Group
    Volaris acquires, strengthens, and grows vertical market technology companies. As an Operating Group of Constellation Software Inc., Volaris strengthens businesses within the markets they compete, enabling them to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions. Learn more at www.volarisgroup.com.

    For more information:

    Ryan Hill
    Volaris Group
    Tel: +1 416-831-0305
    ryans.hill@volarisgroup.com

    The MIL Network

  • MIL-OSI: RTI at Aerospace TechWeek 2025: Advancing Next-Generation Aviation and Defense Technology

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., March 18, 2025 (GLOBE NEWSWIRE) — Real-Time Innovations (RTI), the infrastructure software company for smart-world systems, will exhibit at Aerospace TechWeek 2025, held April 2-3 in Munich, Germany. At booth #K24, RTI will showcase Connext®, the proven software framework that powers secure, high-performance data exchange across avionics systems, unmanned platforms, and multi-domain defense networks. Schedule a meeting with the RTI team here.

    As military aircraft and defense platforms advance, seamless connectivity, interoperability, and mission-critical reliability are more essential than ever. Designed with open architecture principles, Connext supports FACE™, MOSA, SOSA, and Multi-Domain Operations (MDO) requirements—enabling real-time situational awareness, AI-driven decision-making, and scalable connectivity for airborne operations.

    In addition to the booth, RTI experts will present at the following speaking sessions:

    Session 1:

    • Panel Discussion: “Advancing Military Air Traffic Management through Enhanced Connectivity” with EUROCAE
    • When: 11:55 AM, April 2 | Connectivity Track
    • Speaker: Thijs Brouwer, Senior Field Application Engineer, RTI

    Session 2:

    • Presentation: Real-Time Mission Systems and Advanced Communications in Avionics
    • When: 2:00 PM, April 2 | Avionics Track
    • Speaker: Andre Odermatt, Principal Application Engineer, A&D, RTI

    Event Details
    What: RTI at Aerospace TechWeek Europe 2025, Booth #K24
    When: April 2-3, 2025
    Where: MOC – Event Center Messe München, Munich, Germany

    About RTI

    Real-Time Innovations (RTI) is the infrastructure software company for smart-world systems. RTI Connext® is the world’s leading software framework for intelligent distributed systems. Uniquely, Connext users can build systems that combine advanced sensing, fast control, and AI algorithms.

    With 2,000 customer designs, RTI excels at getting customers to production. RTI software runs over 300 autonomous vehicle programs, supports dozens of automotive ADAS and software-defined architectures, controls the largest power plants in North America, integrates over 500 major defense programs, drives a new generation of MedTech systems and robotics, and underlies Canada’s air traffic control and NASA’s launch control systems.

    RTI runs a smarter world.

    RTI is the market leader in products compliant with the Data Distribution Service (DDS™) standard. RTI is privately held and headquartered in Silicon Valley with regional offices in Colorado, Spain, and Singapore.

    Download a free trial of the latest, fully-functional Connext software today: www.rti.com/downloads

    The MIL Network

  • MIL-OSI: Enphase Energy Applauds New Rapid Shutdown Standard for Solar Installations in Brazil

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., March 18, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today commended the introduction of Brazil’s new fire safety standard, Brazilian Association of Technical Standards (ABNT) NBR 17193, which outlines stringent recommendations like rapid shutdown functionality requirements for solar installations in all buildings.

    The new standard emphasizes the importance of safety in solar energy systems, particularly focusing on reducing fire hazards associated with high-voltage direct current (DC) energy components like centralized “string” inverters. Enphase’s microinverter technology intelligently converts low-voltage DC from solar panels into safe low-voltage alternating current (AC) right at the panel, inherently aligning with the new safety standard objectives by eliminating the need for high-voltage DC in residential and commercial solar installations.

    Additionally, all Enphase microinverters support rapid shutdown functionality, a critical safety feature that allows for the immediate de-energization of the system in emergency situations. The new safety standard recommends that all solar installations in Brazil have rapid shutdown functionality before connecting to the grid. This capability not only helps protect property, people, and emergency personnel but also aligns with global best practices for solar system safety. Brazil installers and distributors can learn more about the standard on the Enphase website (English and Portuguese).

    “Enphase’s microinverters have revolutionized our approach to solar installations,” said Adriano Coury, CEO of Onway Energy, an installer of Enphase products in Brazil. “The low-voltage AC design not only simplifies the installation process but also significantly reduces fire risks to help protect homeowners and emergency response teams.”

    “Safety is paramount in our operations,” said João Lucas Silva, CEO of Solusun, an installer of Enphase products in Brazil. “With Enphase’s microinverters, we can offer our clients a solution that complies with the latest safety standards and provides peace of mind.”

    “Enphase’s microinverters arrived in the Brazilian market meeting all safety requirements, ensuring protection for installers and homeowners,” said Marcel Ciriaco, founder of EnergySeg, an installer of Enphase’s products in Brazil. “The NBR 17193 corroborates the compliance of Enphase’s microinverters with global safety standards. Therefore, our Enphase customers will continue to benefit from the credibility and technological efficiency of our solution.”

    “This critical new safety standard is a significant milestone for the Brazilian solar industry, setting new benchmarks for safety and reliability,” said Ken Fong, senior vice president and general manager of the Americas and APAC at Enphase Energy. “Our microinverter technology is designed to meet and exceed these standards, providing Brazilian customers with safe, reliable, and high-performance solar energy solutions.”

    Installers of Enphase’s products in Brazil can order IQ8P™ Microinverters today, with peak output AC power of 480 W, supporting newer high-powered solar modules. All IQ8P Microinverters activated in Brazil come with a 25-year limited warranty. For more information about Enphase Energy in Brazil, please visit the website.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 80.0 million microinverters, and approximately 4.7 million Enphase-based systems have been deployed in more than 160 countries. For more information, visit https://enphase.com/.

    ©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. in the U.S. and other countries. Other names are for informational purposes and may be trademarks of their respective owners.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Annual Report on Form 10-K and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.

    Contact:

    Enphase Energy

    press@enphaseenergy.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network

  • MIL-OSI: Bitcoin Depot Reports Fourth Quarter and Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Q4 Revenue of $136.8 Million Compared to $148.4 Million in the Prior Year Quarter

    Q4 Operating Expenses Down 16% Year-Over-Year to $15.0 Million

    Q4 Net Income up Significantly to $5.4 Million Compared to a Net Loss of $1.7 Million in the Prior Year Quarter

    Q4 Adjusted Gross Profit up 18% Year-Over-Year to $25.4 Million

    Q4 Adjusted EBITDA up 34% Year-Over-Year to $12.0 Million

    ATLANTA, March 18, 2025 (GLOBE NEWSWIRE) — Bitcoin Depot Inc. (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and leading fintech company, today reported financial results for the fourth quarter and full year ended December 31, 2024. Bitcoin Depot will host a conference call and webcast at 10:00 a.m. ET today. An earnings presentation and link to the webcast will be made available at ir.bitcoindepot.com.

    “As we highlighted in our fourth-quarter pre-announcement, 2024 ended on a strong note, driven by sequential revenue growth and substantial improvements in adjusted EBITDA, both sequentially and year-over-year,” said Brandon Mintz, CEO and Founder of Bitcoin Depot. “In the fourth quarter, we made significant progress in expanding our Bitcoin ATM network and optimizing existing machines to enhance profitability — and the results speak for themselves.

    “Looking ahead, we are confident that the optimization efforts we implemented throughout 2024 will begin to positively impact our financial performance as we move through 2025. With our aggressive international and domestic kiosk expansion strategy, we anticipate that 2025 will mark a strong return to growth for the business. As part of this, we are reintroducing financial guidance, projecting robust growth in the first quarter. Additionally, we remain committed to leveraging our strong cash flow to drive shareholder value initiatives, including the potential for a cash dividend. We have also continued to strengthen our Bitcoin treasury holdings, recently increasing our total to 94 BTC, reflecting our confidence in Bitcoin as a valuable financial asset and an integral part of our business model.”

    Fourth Quarter 2024 Financial Results

    Revenue in the fourth quarter of 2024 was $136.8 million compared to $148.4 million in the fourth quarter of 2023. This decline was driven by the impact of unfavorable legislation that was passed in California that went into effect in January 2024, along with the Company’s continued process of relocating underperforming kiosks to optimize fleet profitability.

    Total operating expenses declined 16% to $15.0 million for the fourth quarter of 2024 compared to $17.8 million for the fourth quarter of 2023 due to the costs of going public in 2023 that did not recur in 2024.

    Net income for the fourth quarter of 2024 increased significantly to $5.4 million compared to a net loss of $1.7 million for the fourth quarter of 2023. The increase was due to lower depreciation and amortization and lower operating expenses in 2024.

    Adjusted gross profit, a non-GAAP measure, in the third quarter of 2024 increased 18% to $25.4 million from $21.6 million for the fourth quarter of 2023. Adjusted gross profit margin, a non-GAAP measure, in the fourth quarter of 2024 increased approximately 400 basis points to 18.6% compared to 14.5% in the fourth quarter of 2023. Please see “Explanation and Reconciliation of Non-GAAP Financial Measures” below.

    Adjusted EBITDA, a non-GAAP measure, in the fourth quarter of 2024 increased 34% to $12.0 million compared to $9.0 million for the fourth quarter of 2023. The increase was primarily due to the higher net income. Please see “Explanation and Reconciliation of Non-GAAP Financial Measures” below.

    Full Year 2024 Financial Results

    Revenue in 2024 was $573.7 million from $689.0 million in 2023. This decline was largely driven by the impact of unfavorable legislation that was passed in California that went into effect in January 2024, along with the Company’s continued process of relocating underperforming kiosks in order to optimize fleet profitability.

    Total operating expenses declined 5% to $67.2 million compared to $70.6 million in 2023 due to the costs of going public in 2023 that did not recur in 2024 as well as other cost saving measures.

    Net income in 2024 increased by 432% to $7.8 million compared to $1.5 million in 2023. The increase was primarily due to expenses with going public in 2023 that did not recur in 2024 along with other expense reductions.

    Adjusted gross profit, a non-GAAP measure, in 2024 was $91.4 million compared to $101.0 million in 2023. The adjusted gross profit margin, a non-GAAP measure, in 2024 increased 120 basis points to 15.9% compared to 14.7% in 2023. Please see “Explanation and Reconciliation of Non-GAAP Financial Measures” below.

    Adjusted EBITDA, a non-GAAP measure, in 2024 was $38.7 million compared to $56.3 million in 2023. The decline was due to the lower revenue. Please see “Explanation and Reconciliation of Non-GAAP Financial Measures” below.

    Cash, cash equivalents, and cryptocurrencies were $31.0 million as of the end of 2024 compared to $30.5 million at the end of 2023.

    Q1 2025 Outlook

    Q1 2025 is off to a very strong start as we continue to see growth from our relocation strategy. We anticipate Q1 revenues to be between $151 million and $154 million which would represent growth of between 9% and 11% compared to Q1 2024.

    We are projecting adjusted EBITDA for Q1 2025 to be between $12 million and $14 million which would represent growth of over 200% compared to Q1 of 2024.

    Conference Call

    Bitcoin Depot will hold a conference call at 10:00 a.m. Eastern time (7:00 a.m. Pacific time) today to discuss its financial results for the fourth quarter and full year ended December 31, 2024.

    Call Date: Tuesday, March 18, 2025 
    Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time) 

    Phone Instructions
    U.S. dial-in: 646-968-2525
    International dial-in: 888-596-4144
    Conference ID: 8224936

    Webcast Instructions
    Webcast link: https://edge.media-server.com/mmc/p/8kgtbeme

    A replay of the call will be available beginning after 2:00 p.m. Eastern time through March 25, 2025.

    U.S. & Canada replay number: 800-770-2030
    U.S. toll number: 609-800-9909
    Conference ID: 8224936

    If you have any difficulty connecting with the conference call, please contact Bitcoin Depot’s investor relations team at 1-949-574-3860.

    About Bitcoin Depot

    Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of name-brand retail locations in 29 states through its BDCheckout product. The Company has the largest market share in North America with over 8,400 kiosk locations as of February 25, 2025. Learn more at www.bitcoindepot.com

    Cautionary Statement Regarding Forward-Looking Statements

    This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including our growth strategy and ability to increase deployment of our products and services, our ability to strengthen our financial profile, and worldwide growth in the adoption and use of cryptocurrencies. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,“ ”plan,“ ”potential,“ ”priorities,“ ”project,“ ”pursue,“ ”seek,“ ”should,“ ”target,“ ”when,“ ”will,“ ”would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.

    These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of our projected financial information; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

    We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

     
    BITCOIN DEPOT INC.
    CONSOLIDATED BALANCE SHEETS
    (in thousands, except share and per share amounts)
     
        As of December 31,  
        2024     2023  
    Assets            
    Current:            
    Cash and cash equivalents   $ 29,472     $ 29,759  
    Cryptocurrencies     1,510       712  
    Accounts receivable     275       245  
    Prepaid expenses and other current assets     3,076       3,514  
    Total current assets     34,333       34,230  
    Property and equipment:            
    Furniture and fixtures     635       635  
    Leasehold improvements     172       172  
    Kiosk machines – owned     36,831       24,222  
    Kiosk machines – leased     10,367       20,524  
    Total property and equipment     48,005       45,553  
    Less: accumulated depreciation     (21,158 )     (20,699 )
    Total property and equipment, net     26,847       24,854  
    Intangible assets, net     2,320       3,836  
    Goodwill     8,717       8,717  
    Operating lease right-of-use assets, net     2,595       484  
    Deposits     734       412  
    Deferred tax assets     4,558       1,804  
    Total assets   $ 80,104     $ 74,337  
     
    BITCOIN DEPOT INC.
    CONSOLIDATED BALANCE SHEETS
    (in thousands, except share and per share amounts)
     
        As of December 31,  
        2024     2023  
    Liabilities and Stockholders’ (Deficit) Equity            
    Current:            
    Accounts payable   $ 11,557     $ 8,337  
    Accrued expenses and other current liabilities     14,260       18,505  
    Notes payable     6,022       3,985  
    Income taxes payable     2,207       2,484  
    Deferred revenue     20       297  
    Operating lease liabilities, current portion     858       279  
    Current installments of obligations under finance leases     3,446       6,801  
    Other non-income tax payable     2,259       2,297  
    Total current liabilities     40,629       42,985  
    Long-term liabilities            
    Notes payable, non-current     49,457       17,101  
    Operating lease liabilities, non-current     1,774       319  
    Obligations under finance leases, non-current     1,950       2,848  
    Deferred income tax, net     604       846  
    Tax receivable agreement liability due to related party     2,176       865  
    Total Liabilities     96,590       64,964  
    Commitments and Contingencies (Note 24)            
    Stockholders’ (Deficit) Equity            
    Series A Preferred Stock, $0.0001 par value; 50,000,000 authorized, 1,733,884 and 3,125,000 shares issued and outstanding, at December 31, 2024 and 2023, respectively            
    Class A common stock, $0.0001 par value; 800,000,000 authorized, 19,263,164 and 13,602,691 shares issued, and 19,072,544 and 13,482,047 shares outstanding at December 31, 2024 and 2023, respectively     1       1  
    Class B common stock, $0.0001 par value; 20,000,000 authorized, no shares issued and outstanding at December 31, 2024 and 2023, respectively            
    Class E common stock, $0.0001 par value; 2,250,000 authorized, 1,075,761 shares issued and outstanding at December 31, 2024 and 2023, respectively            
    Class M common stock, $0.0001 par value; 300,000,000 authorized, no shares issued and outstanding at December 31, 2024 and 2023, respectively            
    Class O common stock, $0.0001 par value; 800,000,000 authorized, no shares issued and outstanding at December 31, 2024 and 2023, respectively            
    Class V common stock, $0.0001 par value; 300,000,000 authorized, 41,193,024 and 44,100,000 shares issued and outstanding at December 31, 2024 and 2023, respectively     4       4  
    Treasury stock     (437 )     (279 )
    Additional paid-in capital     21,491       17,326  
    Accumulated deficit     (44,349 )     (32,663 )
    Accumulated other comprehensive loss     (342 )     (203 )
    Total Stockholders’ (Deficit) Attributable to Bitcoin Depot Inc.     (23,632 )     (15,814 )
    Equity attributable to non-controlling interests     7,146       25,187  
    Total Stockholders’ (Deficit) Equity     (16,486 )     9,373  
    Total Liabilities and Stockholders’ (Deficit) Equity   $ 80,104     $ 74,337  

       

     
    BITCOIN DEPOT INC.
    CONSOLIDATED STATEMENTS OF (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME
    (UNAUDITED)
    (in thousands, except share and per share amounts)
     
      Year ended December 31,     Three Months Ended December 31,  
      2024     2023     2024     2023  
    Revenue $ 573,703     $ 688,967     $ 136,827     $ 148,406  
    Cost of revenue (excluding depreciation and amortization)   482,263       587,938       111,415       126,851  
    Operating expenses:                      
    Selling, general, and administrative   57,158       57,770       13,096       14,525  
    Depreciation and amortization   10,072       12,788       1,888       3,234  
    Total operating expenses   67,230       70,558       14,984       17,759  
    Income from operations   24,210       30,471       10,428       3,796  
    Other (expense) income:                      
    Interest (expense)   (14,199 )     (11,926 )     (3,468 )     (1,806 )
    Other (expense) income   406       (16,737 )     263       (2,713 )
    Loss on foreign currency transactions   (465 )     (289 )     (171 )     76  
    Total other (expense), net   (14,258 )     (28,952 )     (3,376 )     (4,443 )
    Income before provision for income taxes and non-controlling interest   9,952       1,519       7,052       (647 )
    Income tax (expense)   (2,138 )     (49 )     (1,659 )     (1,026 )
    Net income $ 7,814     $ 1,470     $ 5,393     $ (1,673 )
    Net income attributable to Legacy Bitcoin Depot unit holders         12,906              
    Net income attributable to non-controlling interest   19,500       14,666       12,041       6,635  
    Net (loss) attributable to Bitcoin Depot Inc. $ (11,686 )   $ (26,102 )   $ (6,648 )   $ (8,308 )
    Other comprehensive income (loss), net of tax                      
    Net income   7,814       1,470       5,393       (1,673 )
    Foreign currency translation adjustments   34       (4 )     35       (70 )
    Total comprehensive income   7,848       1,466       5,428       (1,743 )
    Comprehensive income attributable to Legacy Bitcoin Depot unit holders         12,885              
    Comprehensive income attributable to non-controlling interest   19,500       14,683       12,041       6,565  
    Comprehensive (loss) attributable to Bitcoin Depot Inc. $ (11,652 )   $ (26,102 )   $ (6,613 )   $ (8,308 )

    Explanation and Reconciliation of Non-GAAP Financial Measures

    Bitcoin Depot reports its financial results in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This press release includes both historical and projected Adjusted EBITDA, Adjusted Gross Profit, and certain ratios and other metrics derived therefrom such as Adjusted EBITDA margin and Adjusted Gross Profit margin, which are not prepared in accordance with GAAP.

    Bitcoin Depot defines Adjusted EBITDA as net income before interest expense, income tax expense, depreciation and amortization, non-recurring expenses, share-based compensation, expenses related to the PIPE financing and miscellaneous cost adjustments. Such items are excluded from Adjusted EBITDA because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, not driven by core results of operations and renders comparisons with prior periods and competitors less meaningful. In addition, Bitcoin Depot defines Adjusted Gross Profit (a non-GAAP financial measure) as revenue less cost of revenue (excluding depreciation and amortization) and depreciation and amortization adjusted to add back depreciation and amortization. Bitcoin Depot believes Adjusted EBITDA and Adjusted Gross Profit each provide useful information to investors and others in understanding and evaluating Bitcoin Depot’s results of operations, as well as provide a useful measure for period-to-period comparisons of Bitcoin Depot’s business performance. Adjusted EBITDA and Adjusted Gross Profit are each key measurements used internally by management to make operating decisions, including those related to operating expenses, evaluate performance and perform strategic and financial planning. However, you should be aware that Adjusted EBITDA and Adjusted Gross Profit are not measures of financial performance calculated in accordance with GAAP and may exclude items that are significant in understanding and assessing Bitcoin Depot’s financial results, and further, that Bitcoin Depot may incur future expenses similar to those excluded when calculating these measures. Bitcoin Depot primarily relies on GAAP results and uses both Adjusted EBITDA and Adjusted Gross Profit on a supplemental basis. Neither Adjusted EBITDA or Adjusted Gross Profit should be considered in isolation from, or as an alternative to, net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP and may not be indicative of Bitcoin Depot’s historical or future operating results. Bitcoin Depot’s computation of both Adjusted EBITDA and Adjusted Gross Profit may not be comparable to other similarly titled measures computed by other companies because not all companies calculate such measures in the same fashion. As such, undue reliance should not be placed on such measures.

    Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from the projections of Adjusted EBITDA, together with some of the excluded information not being ascertainable or accessible, Bitcoin Depot is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included.

    The following table presents a reconciliation of Net (loss) income to Adjusted EBITDA for the periods indicated: 

     
    BITCOIN DEPOT INC.
    RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA
    (UNAUDITED)
     
      Year Ended December 31,     Three Months Ended December 31,  
    (in thousands) 2024     2023     2024     2023  
    Net income (loss) $ 7,814     $ 1,470     $ 5,393     $ (1,673 )
    Adjustments:                      
    Interest expense   14,199       11,926       3,468       1,806  
    Income tax (benefit) expense   2,138       49       1,659       1,026  
    Depreciation and amortization   10,072       12,788       1,888       3,234  
    Expense related to the PIPE transaction (1)         14,896             2,615  
    Non-recurring expenses (2)   437       9,298       (767 )     1,634  
    Share-based compensation   3,400       2,524       363       1,198  
    Special bonus (3)   675       3,040             (875 )
    Expenses associated with the termination of the phantom equity participation plan         350              
    Adjusted EBITDA $ 38,735     $ 56,341     $ 12,004     $ 8,965  
    Adjusted EBITDA margin (4)   6.8 %     8.2 %     8.8 %     7.8 %
                                   
    (1) Amounts include the recognition of a non-cash expense of $13.9 million related to the PIPE transaction for the year ended December 31, 2023, entered into as of close of the Merger on June 30, 2023.

    (2) Comprised of non-recurring professional service fees incurred by the Company related to the close of the Transaction.

    (3) Amount includes (A) Transaction bonus and related taxes to employees of approximately $1.4 million and (B) Founder Transaction bonus as a result of close of the Merger, of approximately $1.6 million, recognized as share-based compensation, for the year ended December 31, 2023.

    (4) Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue. The Company uses this measure to evaluate its overall profitability.

     

    The following table presents a reconciliation of revenue to Adjusted Gross Profit for the periods indicated:

     
    BITCOIN DEPOT INC.
    RECONCILIATION OF REVENUE TO ADJUSTED GROSS PROFIT
    (UNAUDITED)
     
      Year Ended December 31,     Three Months Ended December 31,  
    (in thousands) 2024     2023     2024     2023  
    Revenue $ 573,703     $ 688,967     $ 136,827     $ 148,406  
    Cost of revenue (excluding depreciation and
    amortization)
      (482,263 )     (587,938 )     (111,415 )     (126,851 )
    Depreciation and amortization excluded from cost of revenue   (9,984 )     (12,455 )     (1,894 )     (2,901 )
    Gross profit $ 81,456     $ 88,574     $ 23,518     $ 18,654  
    Adjustments:                      
    Depreciation and amortization excluded from cost of revenue $ 9,984     $ 12,455     $ 1,894     $ 2,901  
    Adjusted gross profit $ 91,440     $ 101,029     $ 25,412     $ 21,555  
    Gross profit margin (1)   14.2 %     12.9 %     17 %     13 %
    Adjusted gross profit margin (1)   15.9 %     14.7 %     19 %     15 %
                                   
    (1) Calculated as a percentage of revenue.
     

    Contacts:

    Investors 
    Cody Slach,
    Gateway Group, Inc. 
    949-574-3860 
    BTM@gateway-grp.com

    Media 
    Zach Kadletz, Brenlyn Motlagh, Ryan Deloney 
    Gateway Group, Inc.
    949-574-3860 
    BTM@gateway-grp.com

    The MIL Network