TABER, ALBERTA, July 16, 2025 (GLOBE NEWSWIRE) — FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. In addition, FSI is increasing its presense in the food and nutrition supplement manufacturing markets. Today the Company announces second quarter (Q2), 2025 revenue.
Sales were up in Q2, 2025 compared to Q2, 2024. Flexible Solutions’ top line revenue increased to $11.212 million (Q2, 2025) from $10.529 million (Q2, 2024) to), up approximately 6.5% year over year.
Mr. Dan O’Brien, CEO, comments, “The $2.5 million payment for food grade product development moved our Q2 revenue from poor to good. We saw weakness from several historic customers in the quarter most likely related to general business conditions, tariff uncertainty and inventory reduction.” Mr. O’Brien continues, “Volatility in our base business reinforces our decision to emphasize food grade operations but, it does not change our opinion that the second half of 2025 will see growth unless economic conditions decay further.”
Complete financial results will be available after market close on Thursday, August 14, 2025, concurrent with the Company’s SEC second quarter filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Time, the following business day, Friday, August 15, 2025. See the FSI August 14, 2025 financials news release for the dial in numbers.
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Taber, Alberta, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. In 2022, the Company entered the food and nutrition markets by obtaining FDA food grade approval for the Peru IL plant. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world.
Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a “Safe Harbor” for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company’s reports filed with the Securities and Exchange Commission.
Flexible Solutions International 6001 54thAve, Taber, Alberta, CANADA T1G 1X4 Company Contacts
MORRISVILLE, VT., July 16, 2025 (GLOBE NEWSWIRE) — Union Bankshares, Inc. (NASDAQ – UNB) today announced results for the three and six months ended June 30, 2025 and declared a regular quarterly cash dividend. Consolidated net income for the three months ended June 30, 2025 was $2.4 million, or $0.53 per share, compared to $2.0 million, or $0.45 per share, for the same period in 2024, and $4.9 million, or $1.08 per share, for the six months ended June 30, 2025, compared to $4.4 million, or $0.98 per share, for the same period in 2024.
Balance Sheet
Total assets were $1.48 billion as of June 30, 2025 compared to $1.40 billion as of June 30, 2024, an increase of $81.9 million, or 5.9%. Loan growth was the primary driver of the increase in total assets with total loans increasing $99.8 million, or 9.8%, to reach $1.11 billion as of June 30, 2025 including $9.0 million in loans held for sale, compared to $1.01 billion as of June 30, 2024, with $6.2 million in loans held for sale. Despite the economic uncertainty in the future, asset quality remains strong with minimal past due loans and net recoveries of $5 thousand and $6 thousand for the three and six months ended June 30, 2025, respectively.
In addition to the balance sheet growth in loans, qualifying residential loans of $31.0 million and $56.8 million were sold to the secondary market for the three and six months ended June 30, 2025, respectively, compared to sales of $19.3 million and $41.0 million for the three and six months ended June 30, 2024, respectively.
Total deposits were $1.10 billion as of June 30, 2025 compared to deposits of $1.05 billion as of June 30, 2024, and included purchased brokered deposits of $65.3 million and $65.0 million for the respective periods. Borrowed funds consisted of Federal Home Loan Bank advances of $270.7 million as of June 30, 2025 compared to $212.1 million as of June 30, 2024. There were also $35.0 million in advances from the Federal Reserve’s Bank Term Funding Program outstanding as of June 30, 2024.
The Company had total equity capital of $71.3 million and a book value per share of $15.66 as of June 30, 2025 compared to $64.0 million and a book value of $14.16 per share as of June 30, 2024. Total equity capital is reduced by accumulated other comprehensive loss as it relates to the fair market value adjustment for investment securities. Accumulated other comprehensive loss as of June 30, 2025 was $31.2 million compared to $35.2 million as of June 30, 2024.
Income Statement
Consolidated net income was $2.4 million for the second quarter of 2025 compared to $2.0 million for the second quarter of 2024, an increase of $376 thousand, or 18.6%. Interest income increased $2.2 million, or 13.1%, to $18.7 million for the three months ended June 30, 2025 compared to $16.5 million for the three months ended June 30, 2024, due to an increase in yield on earning assets and an increase in volume for the comparison periods. Similarly, interest expense increased $1.2 million, or 17.1%, to $8.3 million for the three months ended June 30, 2025 compared to $7.1 million for the three months ended June 30, 2024 due to an increase in rates paid on customer deposits and to a lesser extent an increase in volumes. As a result of these changes during the comparison periods, net interest income increased $962 thousand, or 10.1%.
Credit loss expense of $221 thousand was recorded for the second quarter of 2025 compared to $388 thousand recorded for the second quarter of 2024. The credit loss expense was primarily related to the growth and mix of the loan portfolio at both June 30, 2025 and June 30, 2024. Management continues to assess the adequacy of the Allowance for Credit Losses quarterly.
Noninterest income was $2.8 million for the three months ended June 30, 2025 and 2024. Noninterest expenses increased $706 thousand, or 7.2%, to $10.5 million for the three months ended June 30, 2025 compared to $9.8 million for the same period in 2024. The increase during the comparison period was due to increases of $311 thousand in salaries and wages, $340 thousand in employee benefits, $2 thousand in occupancy expenses, and $83 thousand in equipment expenses, partially offset by a decrease of $31 thousand in other expenses. Income tax expense was $102 thousand for the three months ended June 30, 2025, an increase of $41 thousand compared to income tax expense of $61 thousand for the three months ended June 30, 2024.
Dividend Declared
The Board of Directors declared a cash dividend of $0.36 per share for the quarter payable August 7, 2025 to shareholders of record as of July 26, 2025.
About Union Bankshares, Inc.
Union Bankshares, Inc., headquartered in Morrisville, Vermont, is the bank holding company parent of Union Bank, which provides commercial, retail, and municipal banking services, as well as, wealth management services throughout northern Vermont and New Hampshire. Union Bank operates 18 banking offices, three loan centers, and multiple ATMs throughout its geographical footprint.
Since 1891, Union Bank has helped people achieve their dreams of owning a home, saving for retirement, starting or expanding a business and assisting municipalities to improve their communities. Union Bank has earned an exceptional reputation for residential lending programs and has been recognized by the US Department of Agriculture, Rural Development for the positive impact made in lives of low to moderate home buyers. Union Bank is consistently one of the top Vermont Housing Finance Agency mortgage originators and has also been designated as an SBA Preferred lender for its participation in small business lending. Union Bank’s employees contribute to the communities where they work and reside, serving on non-profit boards, raising funds for worthwhile causes, and giving countless hours in serving our fellow residents. All of these efforts have resulted in Union receiving and “Outstanding” rating for its compliance with the Community Reinvestment Act (“CRA”) in its most recent examination. Union Bank is proud to be one of the few independent community banks serving Vermont and New Hampshire and we maintain a strong commitment to our core traditional values of keeping deposits safe, giving customers convenient financial choices and making loans to help people in our local communities buy homes, grow businesses, and create jobs. These values–combined with financial expertise, quality products and the latest technology–make Union Bank the premier choice for your banking services, both personal and business. Member FDIC. Equal Housing Lender.
Forward-Looking Statements
Statements made in this press release that are not historical facts are forward-looking statements. Investors are cautioned that all forward-looking statements necessarily involve risks and uncertainties, and many factors could cause actual results and events to differ materially from those contemplated in the forward-looking statements. When we use any of the words “believes,” “expects,” “anticipates” or similar expressions, we are making forward-looking statements. The following factors, among others, could cause actual results and events to differ from those contemplated in the forward-looking statements: uncertainties associated with general economic conditions; changes in the interest rate environment; inflation; political, legislative or regulatory developments; acts of war or terrorism; the markets’ acceptance of and demand for the Company’s products and services; technological changes, including the impact of the internet on the Company’s business and on the financial services market place generally; the impact of competitive products and pricing; and dependence on third party suppliers. For further information, please refer to the Company’s reports filed with the Securities and Exchange Commission atwww.sec.govor on our investor page atwww.ublocal.com.
MORRISVILLE, VT., July 16, 2025 (GLOBE NEWSWIRE) — Union Bankshares, Inc. (NASDAQ – UNB) today announced results for the three and six months ended June 30, 2025 and declared a regular quarterly cash dividend. Consolidated net income for the three months ended June 30, 2025 was $2.4 million, or $0.53 per share, compared to $2.0 million, or $0.45 per share, for the same period in 2024, and $4.9 million, or $1.08 per share, for the six months ended June 30, 2025, compared to $4.4 million, or $0.98 per share, for the same period in 2024.
Balance Sheet
Total assets were $1.48 billion as of June 30, 2025 compared to $1.40 billion as of June 30, 2024, an increase of $81.9 million, or 5.9%. Loan growth was the primary driver of the increase in total assets with total loans increasing $99.8 million, or 9.8%, to reach $1.11 billion as of June 30, 2025 including $9.0 million in loans held for sale, compared to $1.01 billion as of June 30, 2024, with $6.2 million in loans held for sale. Despite the economic uncertainty in the future, asset quality remains strong with minimal past due loans and net recoveries of $5 thousand and $6 thousand for the three and six months ended June 30, 2025, respectively.
In addition to the balance sheet growth in loans, qualifying residential loans of $31.0 million and $56.8 million were sold to the secondary market for the three and six months ended June 30, 2025, respectively, compared to sales of $19.3 million and $41.0 million for the three and six months ended June 30, 2024, respectively.
Total deposits were $1.10 billion as of June 30, 2025 compared to deposits of $1.05 billion as of June 30, 2024, and included purchased brokered deposits of $65.3 million and $65.0 million for the respective periods. Borrowed funds consisted of Federal Home Loan Bank advances of $270.7 million as of June 30, 2025 compared to $212.1 million as of June 30, 2024. There were also $35.0 million in advances from the Federal Reserve’s Bank Term Funding Program outstanding as of June 30, 2024.
The Company had total equity capital of $71.3 million and a book value per share of $15.66 as of June 30, 2025 compared to $64.0 million and a book value of $14.16 per share as of June 30, 2024. Total equity capital is reduced by accumulated other comprehensive loss as it relates to the fair market value adjustment for investment securities. Accumulated other comprehensive loss as of June 30, 2025 was $31.2 million compared to $35.2 million as of June 30, 2024.
Income Statement
Consolidated net income was $2.4 million for the second quarter of 2025 compared to $2.0 million for the second quarter of 2024, an increase of $376 thousand, or 18.6%. Interest income increased $2.2 million, or 13.1%, to $18.7 million for the three months ended June 30, 2025 compared to $16.5 million for the three months ended June 30, 2024, due to an increase in yield on earning assets and an increase in volume for the comparison periods. Similarly, interest expense increased $1.2 million, or 17.1%, to $8.3 million for the three months ended June 30, 2025 compared to $7.1 million for the three months ended June 30, 2024 due to an increase in rates paid on customer deposits and to a lesser extent an increase in volumes. As a result of these changes during the comparison periods, net interest income increased $962 thousand, or 10.1%.
Credit loss expense of $221 thousand was recorded for the second quarter of 2025 compared to $388 thousand recorded for the second quarter of 2024. The credit loss expense was primarily related to the growth and mix of the loan portfolio at both June 30, 2025 and June 30, 2024. Management continues to assess the adequacy of the Allowance for Credit Losses quarterly.
Noninterest income was $2.8 million for the three months ended June 30, 2025 and 2024. Noninterest expenses increased $706 thousand, or 7.2%, to $10.5 million for the three months ended June 30, 2025 compared to $9.8 million for the same period in 2024. The increase during the comparison period was due to increases of $311 thousand in salaries and wages, $340 thousand in employee benefits, $2 thousand in occupancy expenses, and $83 thousand in equipment expenses, partially offset by a decrease of $31 thousand in other expenses. Income tax expense was $102 thousand for the three months ended June 30, 2025, an increase of $41 thousand compared to income tax expense of $61 thousand for the three months ended June 30, 2024.
Dividend Declared
The Board of Directors declared a cash dividend of $0.36 per share for the quarter payable August 7, 2025 to shareholders of record as of July 26, 2025.
About Union Bankshares, Inc.
Union Bankshares, Inc., headquartered in Morrisville, Vermont, is the bank holding company parent of Union Bank, which provides commercial, retail, and municipal banking services, as well as, wealth management services throughout northern Vermont and New Hampshire. Union Bank operates 18 banking offices, three loan centers, and multiple ATMs throughout its geographical footprint.
Since 1891, Union Bank has helped people achieve their dreams of owning a home, saving for retirement, starting or expanding a business and assisting municipalities to improve their communities. Union Bank has earned an exceptional reputation for residential lending programs and has been recognized by the US Department of Agriculture, Rural Development for the positive impact made in lives of low to moderate home buyers. Union Bank is consistently one of the top Vermont Housing Finance Agency mortgage originators and has also been designated as an SBA Preferred lender for its participation in small business lending. Union Bank’s employees contribute to the communities where they work and reside, serving on non-profit boards, raising funds for worthwhile causes, and giving countless hours in serving our fellow residents. All of these efforts have resulted in Union receiving and “Outstanding” rating for its compliance with the Community Reinvestment Act (“CRA”) in its most recent examination. Union Bank is proud to be one of the few independent community banks serving Vermont and New Hampshire and we maintain a strong commitment to our core traditional values of keeping deposits safe, giving customers convenient financial choices and making loans to help people in our local communities buy homes, grow businesses, and create jobs. These values–combined with financial expertise, quality products and the latest technology–make Union Bank the premier choice for your banking services, both personal and business. Member FDIC. Equal Housing Lender.
Forward-Looking Statements
Statements made in this press release that are not historical facts are forward-looking statements. Investors are cautioned that all forward-looking statements necessarily involve risks and uncertainties, and many factors could cause actual results and events to differ materially from those contemplated in the forward-looking statements. When we use any of the words “believes,” “expects,” “anticipates” or similar expressions, we are making forward-looking statements. The following factors, among others, could cause actual results and events to differ from those contemplated in the forward-looking statements: uncertainties associated with general economic conditions; changes in the interest rate environment; inflation; political, legislative or regulatory developments; acts of war or terrorism; the markets’ acceptance of and demand for the Company’s products and services; technological changes, including the impact of the internet on the Company’s business and on the financial services market place generally; the impact of competitive products and pricing; and dependence on third party suppliers. For further information, please refer to the Company’s reports filed with the Securities and Exchange Commission atwww.sec.govor on our investor page atwww.ublocal.com.
Source: United Kingdom – Executive Government & Departments
Two papers published in NEJM look at the use of mitochondrial donation an preimplantation genetic testing for mitochondrial disease.
Dr David J Clancy, Lecturer in Biogerontology, Lancaster University, said:
“This comment is to discuss Mitochondrial Replacement Therapy (MRT) in terms of costs and benefits in light of what we now know.
Benefits
“Mitochondrial replacement therapy allows women with pathogenic mitochondrial DNA to have a baby which bears her own chromosomes, while reducing or replacing the pathogenic mtDNA. If the primary purpose is to avoid mitochondrial disease, then women could also have IVF by donor sperm or donor egg (or donor embryo), or they might choose adoption if IVF technologies don’t suit them for clinical or personal reasons.
“In chromosomal dominant diseases like Huntington’s disease, affected people are offered pre-implantation genetic testing (PGT) and they are also offered IVF using donor eggs or embryos if the patient is a woman. For these sorts of genetic disease there is currently no alternative. In these cases a woman cannot have a child bearing her own chromosomes.
“When having a family there are two ways to break genetic lineages – inheritance down generations: one is to adopt and another is to have IVF by donor sperm or donor egg (or donor embryo). It is difficult to value genetic lineage. It will be more valuable to some, less to others. While maternity is never in doubt, paternity often is. Perhaps we should then value maternal genetic lineage more than paternal. Mitochondrial replacement therapy allows unbroken maternal lineage.
I cannot determine whether the Mitochondrial Reproductive Advice Clinic suggests IVF by donor egg or embryo (or adoption). The paper says “Patients with heteroplasmy (part pathogenic mitochondrial DNA, part healthy) were offered PGT, and patients with homoplasmy or elevated heteroplasmy (all or mostly pathogenic mitochondrial DNA) were offered pronuclear transfer.”
Costs
“The money cost is presumably significant. The work was funded by Wellcome and NHS England and carried out by Newcastle University, UK and the Newcastle upon Tyne Hospitals NHS Foundation Trust. Presumably they could give an idea of the cost. This might be considered important, in an environment of limited resources for national healthcare.
Possible harms
“Because these babies would not exist without the MRT intervention, we want to know about possible problems; in medicine the saying is “First, do no harm”, though in current healthcare, harm is often inevitable. While the babies so far seem probably unaffected, assessing the potential for future harm as they develop by looking at the degree of heteroplasmy in the infants is a large part of the reason for the publications.
“Measurements were on white blood cells so we don’t know about tissue mosaicism, which is where you can have high heteroplasmy in some tissues and low in others, and is common in many mitochondrial diseases. In tissues demanding high energy production (e.g. neurons), lower levels of heteroplasmy can still be symptomatic. In a mouse model, a proportion of >20% energy-deficient neurons in the brain was necessary for observable symptoms.
“Three of eight newborns from MRT had heteroplasmy levels of 5%, 12%, and 16% (the other five were
“All of these things were mostly known before these publications, so apparently the Human Fertilization and Embryology Authority (HFEA), who approved it, is happy with the cost-benefit ratio. It also appears that other countries also approve, because the technique is spreading; there is a clinic in North Cyprus, and Prof Mary Herbert, the study’s lead, has moved to a pioneer institution in IVF, Monash University in Melbourne, Australia, partly to introduce a mitochondrial replacement program.”
Prof Joanna Poulton, Professor and Honorary Consultant in Mitochondrial Genetics, Nuffield Department of Women’s and Reproductive Health, said:
“From this study, it isn’t clear that MD (mitochondrial donation) has any advantage over PGT (pre-implantation genetic testing, an alternative strategy) for heteroplasmic mtDNA disorders (where patients have mixtures of normal and mutant mtDNA and severity depends on the “dose” of mutant). The “take home baby” rate and the reduction in mutant load is similar (if anything less good for MD).
“MD has a clear theoretical advantage for homoplasmic disorders (where the mother’s mtDNA is 100% mutant), because while PGT while can be used to reduce risk, it cannot be used to reduce the load of mutant mtDNA. Over half of the MD children were from Leber Hereditary Optic Neuropathy (LHON) families, where the chance of male offspring going blind in adolescence is around 20% but only 4% for females. The risk of blindness can be reduced 5 fold using PGT to select female embryos, but they risk transmitting it to their children. Happily, male identical twins were born by MD with undetectable mutant mtDNA, they will be very low risk for blindness and as males, they will not transmit the problem to their children (because LHON is a maternally transmitted disorder). Slightly worryingly, one baby from a m.4300A>G family, where the mother has a heart disorder (cardiomyopathy) for which she may ultimately need a heart transplant, has an unspecified heart defect: they conclude it is probably unrelated to m.4300A>G but this remains uncertain. Another from a m.3260A>G family had a mutant load of 16% in blood. While this probably means the risk of symptoms is low, one symptomatic m.3260A>G woman had a blood level that was lower than this (11% with 81% in muscle). Happily, male identical twins were born by MD with undetectable mutant mtDNA, they will be very low risk for blindness and as males, they will not transmit the problem to their children because LHON is a maternally transmitted disorder.
“A great deal of research funding has been channelled into the centre that has developed MD. While this has generated fascinating scientific data and this treatment option is now available on the NHS, it hasn’t yet resulted in a dramatic clinical advance. Time will tell.”
Prof Dusko Ilic, Professor of Stem Cell Science, King’s College London, said:
“A remarkable accomplishment! State-of-the-art technology. Kudos to the team!”
Prof Dagan Wells,Professor of Reproductive Genetics, University of Oxford, and Director, Juno Genetics, Oxford, said:
“This is an important study which has been eagerly anticipated ever since the first license to carry out mitochondrial replacement therapy to avoid mitochondrial disease was granted eight years ago.
“The results indicate that established methods for avoiding mitochondrial DNA diseases, such as preimplantation genetic testing, perform well and will be suitable for most women at risk of having an affected child.
“A minority of patients are unable to produce any embryos free of mitochondrial disease, and for those women the study provides hope that they may be able to have healthy children in the future.
“The treatment has succeeded in producing 8 babies, and although mitochondrial DNA mutations can be detected in the cells of most of the children, the great majority of their mitochondria are functional, and consequently they do not have mitochondrial disease.
“The published results are very valuable, but some scientists will be a little disappointed that so much time and effort has, so far, only led to the birth of 8 children.
“Larger studies will be needed to truly understand the value of mitochondrial replacement therapy, and to understand whether there are any risks associated with the treatment.
“Three of the eight children born have some evidence of ‘reversal’, a phenomenon where the therapy initially succeeds in producing an embryo with very few defective mitochondria, but by the time the child is born the proportion of abnormal mitochondria in its cells has significantly increased.
“It is not understood why reversal sometimes occurs. Taking data from the new study as well as previous research, it seems that it may affect as many as one-third of embryos produced using mitochondrial replacement therapy. Importantly, all the children in the study have low levels of abnormal mitochondria in their cells, including those where a degree of reversal has occurred. However, the fact that reversal can happen suggests there is a chance that mitochondrial replacement therapy might occasionally fail, and consequently the procedure should be seen as a way of reducing the risk of mitochondrial disease inheritance, not guaranteeing it.”
Dr Andy Greenfield, Honorary Fellow at the Nuffield Department of Women’s & Reproductive Health, University of Oxford, said:
“Mitochondria are the energy-producing organelles of the body’s cells. They contain DNA (mitochondrial DNA, mtDNA) and as such are prone to changes to that DNA (mutations) that can disrupt mitochondrial function and cause disease. The paper by Hyslop et al describes the first clinical use in the UK of a technique – mitochondrial donation (MD) – aimed at reducing the risk of transmitting a class of mitochondrial diseases (mtDNA diseases) from mother to offspring. This is an often devastating and life-limiting group of diseases for which no curative treatments exist. The specific technique described, based on IVF, is pronuclear transfer (PNT), one of the two MD techniques made lawful in the UK in 2015. The last preclinical review of the safety and effectiveness of MD, commissioned by the HFEA and published in 2016, recommended its clinical use as a risk reduction strategy – to be used only in those women for whom preimplantation genetic testing (PGT, an established procedure that is used to detect genetic abnormalities, including the amount of disease-causing (pathogenic) mtDNA, in an embryo) followed by selection of an embryo with low levels of pathogenic mtDNA for transfer was unlikely to be a successful strategy i.e. only in those women with high levels of pathogenic mtDNA (elevated heteroplasmy) in all eggs or with exclusively pathogenic mtDNA in their eggs (homoplasmy). This cautious approach is at the heart of this new report, which, along with an accompanying paper by McFarland et al, assesses MD alongside PGT in an integrated programme performed at Newcastle Fertility Centre, UK, under the regulatory framework developed by the HFEA.
“Whilst PGT for mtDNA is an established procedure that acts as a useful comparator, the attention here will be rightly focused on the MD clinical data: 22 women at high risk of transmitting mitochondrial disease to their offspring were treated using PNT, resulting in 8 live births and one ongoing pregnancy. Firstly, this headline result alone is highly significant: PNT is compatible with embryo viability in humans. Secondly, levels of pathogenic mtDNA (in blood) from the infants varied from 0% to 16%. Whilst the last figure hints at a degree of reversion to the maternal mtDNA type, it is also sufficiently low to conclude that the procedure has successfully reduced the risk of mtDNA in all children born. The amount of maternal mtDNA could, however, vary from tissue to tissue and so follow-up of these children is vitally important. McFarland et al report that none of the children has any health condition that could be straightforwardly attributed to the presence of mtDNA disease. As the authors note, there are reasons to be optimistic about the outcome of this first MD treatment in the UK.
“The data in the last paragraph, whilst summarised very briefly, are the culmination of decades of work: from the earliest investigations in mice aimed at understanding the impacts of nuclear transfer, through to targeted experiments in human embryos to provide preclinical evidence of safety and effectiveness. But this is to focus only on some of the scientific/technical challenges that have been overcome. There were parallel activities over a similar time frame concerning ethical inquiry, public and patient engagement, law-making, drafting of regulations and execution of those regulations by committees. And last but not least: the careful establishment of a clinical pathway by which the health of the mothers and infants born could be monitored and they could be cared for (detailed in McFarland et al). This all represents a vast amount of work by a large number of people over a long period.
“The Hyslop et al paper itself is a treasure trove of data, which will likely to be the starting points of new avenues of research and opportunities for refinement. What is the explanation for the somewhat elevated maternal mtDNA levels (still beneath the clinical threshold for disease) detected in two babies born following PNT? Further studies of mitochondrial DNA replication, segregation and interaction with the nuclear DNA may provide clues. The reduction in normally fertilized eggs in the PNT group also requires explanation and may indicate that some mtDNA pathogenic variants can compromise fertilisation of the egg, which is an energy-demanding process. This observation opens up a whole area of research concerning the role of played by mitochondria in fertility. Of course, numbers analysed here are still low and a larger and more diverse cohort will be required to draw firm conclusions about efficacy and safety of MD at a population level. We can look forward to future assessments of maternal spindle transfer (the other lawful MD technique in the UK) and even, possibly, the use of targeted, enzymatic degradation of pathogenic mtDNA to eliminate the risk of carry-over and reversion.
“How do we summarise what this all means? It is a triumph of scientific innovation in the IVF clinic – a world-first that shows that the UK is an excellent environment in which to push boundaries in IVF; a tour de force by the embryologists who painstakingly developed and optimised the micromanipulation methods; an example of the value of clinical expertise, developed over decades of working with children and adults suffering from these devastating diseases, being used to support a new intervention and subsequent follow-up, potentially for many years. And it is so much more, depending on whether one’s perspective is that of an historian, sociologist, ethicist or philosopher. It is tempting to suggest that this report marks the end of a process – but it is actually the beginning, of a new era in which technologies that change how we think about human reproduction are introduced into a tightly regulated environment – the only way in which they should be introduced.
“In time, there will no doubt be retrospective studies and assessments of how all this was done – some critical – and there will be much to learn. It is hoped that other papers will follow, detailing different aspects of the process by which these first UK children were born, because this whole exercise has been a steep learning curve for all involved and future progress relies on such learning being shared. Safety assessment should be at the heart of all these and future reports. Some may wonder about the time taken for these current reports to see the light of day – but that would be to underestimate what is required to transition from preclinical research activities in an academic setting to offering a bona fide clinical service on the NHS (with the spanner of COVID-19 thrown into the works for good measure). Others will wonder whether supporting the desire to have biological children merits all this time and effort, when ‘unmet clinical need’ is the focus and budgetary constraints are the norm. But this evaluation unnecessarily attempts to marginalise a human activity – ‘having children’ – that is actually central to the health and wellbeing of a significant proportion of the population. And those ordinary resemblances that parents and children often share also matter to them. Of course, the results of clinical follow-up of the children born using PNT will be a major determinant of the future prospects for mitochondrial donation in the IVF clinic, as this report acknowledges.
“There will be many responses to this work, but I see these reports, despite their matter-of-fact understatement, as an extraordinary reminder of what well intentioned science, collaborating with medicine, can do to improve the lives of human beings.”
Mr Stuart Lavery, Divisional Clinical Director Women’s Health and Consultant in Reproductive Medicine/Honorary Associate Professor, University College Hospitals NHS Foundation Trust, said:
“The concept of nuclear transfer has attracted much commentary and occasionally concern and anxiety.
“The Newcastle team have demonstrated that it can be used in a clinically effective and ethically acceptable way to prevent disease and suffering.
“The HFEA has shown that regulation need not always be restrictive, and that permissive regulation can lead to innovation at the highest level, allowing scientists to push boundaries, patients to be successfully treated and the public to be reassured.
“This truly represents the very best of British science and regulation.”
Prof Bert Smeets, Professor in Clinical Genomics with focus on Mitochondrial Diseases, said:
“These are papers, the scientific community has waited for, for a long time, as they describe the experience of the Newcastle team on pronuclear transfer to prevent the transmission of mtDNA disease, for which they got approval in 2017. The papers describe the current experience in PNT and PGT for preventing the transmission of mtDNA disease. It is good to present a reproductive care pathway, although it is not fully complete and some of the criteria might be reevaluated based on the presented data. The care pathway starts with carriers of mtDNA mutations. I would also include women who have affected children with de novo mtDNA mutations. This concerns about 25% of the mtDNA patients. The recurrence risk is low and generally prenatal diagnosis is offered for reassurance. Furthermore, women with a very low mtDNA mutation load, with skewing mtDNA mutations or large scale deletions could also opt for prenatal diagnosis. For a reproductive care pathway for mtDNA disease, these groups should be included as well. It is clear that for the remainder according to the HFEA guidelines PNT should only be offered if PGT is unsuitable. It is great that the PNT as an addition to the reproductive choices for mtDNA disease seems to deliver as 8 children without the mtDNA condition were born. However, there are still concerns, as 2 PNT children had a higher mutation load than the carry-over, which means that reversal can occur and could be a risk for having affected children in future treatments. Also, two children had rare medical complications, which according to the authors were not related to the treatment, as this would then be expected for all of them. I do not think that is true as technical variation occurs and donors will be different. It is good to carefully monitor this, as one of the aims of HFEA guided clinical application is to find-out if PNT by itself is safe, not only to prevent mtDNA disease. The discussion on this is not very strong. Finally, a key unanswered question is why it took so long to come out with these results. Eight births with no mtDNA disease in 7 years deviates largely from the expected150 yearly births, as described by the same group in NEJM in 2015, if all women would opt for this procedure. It seems that the children born are quite recent (only one >18 months), so one wonders if there is a learning curve, change in procedure or whatsoever, explaining the increasing success rate. It would be fair to discuss this in more detail as it would make it much clearer and more realistic which women of the target group will benefit from MD. And that is still a positive message.”
Comments on the broader story:
Kevin McEleny, Chair, British Fertility Society, said:
“These landmark papers provide compelling evidence that mitochondrial donation through pronuclear transfer can massively reduce the transmission of pathogenic mitochondrial DNA variants and are a terrific example of how a regulatory framework can be adapted to permit world-leading scientific discovery. Although the number of babies conceived through this novel treatment is small and their long-term follow-up will be required, the study provides hope to people affected by mitochondrial DNA disease and their loved ones.”
Sarah Norcross, Director of the Progress Educational Trust (PET), said:
“We could not be more delighted by the news that eight babies with donated mitochondria have been born in the UK, and that all of these children have made normal developmental progress.
“Our charity spent many years campaigning for UK law to be changed, to permit the use of mitochondrial donation in treatment. We salute the patients who had the courage to attempt these novel treatments, and we thank the team at Newcastle for justifying patients’ confidence in them.
“Mitochondrial donation will not necessarily be appropriate for every patient who carries disease-causing mitochondrial DNA mutations – rather, its appropriateness depends on various factors that are explored in detail in the new studies. Importantly, the studies place mitochondrial donation within the context of a broader NHS care pathway, that offers a variety of options for people carrying mitochondrial DNA mutations who wish to have children.
“Nonetheless, the studies demonstrate that mitochondrial donation is a feasible option – indeed, a positive reproductive choice – for some patients. An important consideration is that women considering mitochondrial donation are advised to start their fact-finding early, because of the decline of egg quality with age.
“The medical and scientific work at Newcastle, and the policy and legal work that preceded it, have set a high standard for introducing new reproductive technology in a careful and scrupulously regulated way. We are pleased to see that Australia is following a similarly responsible path, having recently introduced its own law that permits the use of mitochondrial donation for the purpose of avoiding mitochondrial disease.
“The work at Newcastle will no doubt inform – and in future, will perhaps also be informed by – the mitoHOPE pilot programme for mitochondrial donation in Australia.”
Nick Meade, Chief Executive Genetic Alliance,said:
“Most rare conditions do not yet have a cure or treatment, so for families affected, reproductive choice techniques are the only opportunities to take control of the impact of the condition. For serious conditions caused by nuclear DNA, these opportunities have existed for many years (through preimplantation genetic testing), with today’s news, we know more families have that opportunity now. These techniques have the potential to work for hundreds of conditions caused by mitochondrial DNA, and they are an example of how innovative research can be applied to take steps forward for multiple rare conditions in parallel. With more than 7,000 rare conditions affecting people in the UK, we need this kind of progress.”
Beth Thompson, Executive Director for Policy & Partnerships at Wellcome, said:
“This is a remarkable scientific achievement, which has been years in the making and we are overjoyed for the families of the eight children born so far.
“The pioneering work behind mitochondrial donation is a powerful example of how discovery research can change lives. The UK has led the way and has demonstrated the importance of science grounded in close and careful co-ordination between researchers, funders and regulators – and, very importantly, working closely with families affected.
“Wellcome has proudly supported this work since the earliest days, including advocating for legislation and licensing. As the science progresses, we will continue championing brave investment in science and for policy and regulation to keep pace. The success of this research should inspire us move forward on other updates, opening the way for further innovation. The groundwork for review of Human Fertilisation and Embryology Act, for example, has been done, it now needs to move forward. We must ensure the UK stays a world leader in life sciences.”
Danielle Hamm, Director of the Nuffield Council on Bioethics, said:
“Today we have seen the first evidence that for a small number of UK families the use of pronuclear transfer (PNT) to prevent the transfer of maternally inherited mitochondrial DNA disorders has resulted in what everyone hoped it would: children who are thriving and appear free of the devastating symptoms of mitochondrial disease.
“The Nuffield Council on Bioethics’ landmark ethical review of techniques for the prevention of maternally inherited mitochondrial disorders has been instrumental in creating the right regulatory environment to allow this innovative treatment to reach the clinic and change lives for the better.
“The HFEA’s licensing conditions followed our recommendation and ensured that PNT is only available through a specialist centre. The establishment of the NHS Highly Specialised Mitochondrial Reproductive Care Pathway has ensured that families referred to the service are fully supported and have access to appropriate information, and that long term follow up of participants has been secured.
“We welcome this great progress, but continued follow-up is crucially important to inform our understanding of the long-term efficacy of the treatment.”
Peter Thompson, Chief Executive of the HFEA, said:
“Ten years ago, the UK was the first country in the world to licence mitochondrial donation treatment to avoid passing the condition to children. For the first time, families with severe inherited mitochondrial illness have the possibility of a healthy child. Although it’s still early days, it is wonderful news that mitochondrial donation treatment has led to eight babies being born.
“Only people who are at a very high risk of passing a serious mitochondrial disease onto their children are eligible for this treatment in the UK, and every application for mitochondrial donation treatment is individually assessed in accordance with the law. These robust but flexible regulatory processes allow the technique to be used safely for the purposes that Parliament agreed in 2015.”
Prof Frances Flinter, Chair of the HFEA’s Statutory Approvals Committee, said:
“We are pleased to see the peer-reviewed papers published in the New England Journal of Medicine that explain what has happened to those patients who the HFEA authorised to have mitochondrial donation treatment at the Newcastle Centre at Life. These are patients for whom there was no other option to have a healthy baby who is genetically related to them, and we are delighted for those families.
“The HFEA will continue to oversee the safe use of mitochondrial donation treatment and assess each application as families come through the programme. These results are testimony to how the UK continues to be a world leader in the use of new medical techniques to change lives.”
Comment from the editor of the journal the papers are published in (so NOT third party):
Eric Rubin, MD, PhD, Editor-in-Chief, The New England Journal of Medicine, said:
“These studies unite scientific rigor, clinical innovation, and deep ethical reflection to illustrate the full research continuum from bench to bedside. At the New England Journal of Medicine, we chose to publish this work in its full context, not only to highlight the outcomes, but also to surface the critical questions it raises about translating breakthroughs into patient care. Where allowed by government regulations, this research has the potential to prevent serious inherited disease and gives parents truly meaningful new options for their children. Its publication also reminds us that preserving the infrastructure and integrity of biomedical research in the U.S. and around the world is essential if we are to continue delivering such transformative treatments to patients.”
Comments via colleagues at other international SMCs:
Prof. Dr. Marcus Deschauer, Head of the Working Group on Rare Hereditary Neurological Diseases and Senior Physician at the Clinic and Polyclinic for Neurology, Klinikum rechts der Isar, Technical University of Munich (TUM), said:
“To my knowledge, this is the first publication of a larger cohort of families/mothers with mitochondrial DNA (mtDNA) disorders who have given birth to children after pre-implantation genetic diagnosis or mitochondrial donation. The work is therefore very important for assessing the effectiveness and risks of these methods in practice.”
“Per se, the study includes well-studied families with reliable data, but it was not possible to prevent the transmission of the disease-causing mtDNA variants in all families.””A certain carry-over of mtDNA with a disease-causing variant occurs during pre-cell nucleus transfer. It cannot be ruled out that the proportion of mutated mtDNA will continue to increase over the course of a lifetime after carry-over. However, this is unlikely: for example, in patients with the m.3243A>G variant, the degree of heteroplasmy in the blood decreases over the course of life.“
”The follow-up periods are not yet sufficient to assess the risks of later disease. Manifestation of an mtDNA disease at a later stage is conceivable in children.””A pathological mtDNA variant is identified in women who can pass it on by means of molecular genetic testing if the woman has symptoms of a mitochondriopathy. There are also cases in which molecular genetic diagnostics are performed for another indication – such as the search for another genetic disease – and a pathological mtDNA is detected. However, according to the ACMG recommendations, this should not be disclosed by genetic laboratories.“
”Until now, the lack of data has made it difficult to advise women with mitochondrial diseases on their desire to have children. The DGN guideline ‘Mitochondrial Diseases’ states: ‘Human genetic counselling is particularly complex when it comes to the desire to have children. Prenatal diagnosis can be routinely performed for nuclear mutations, but is more limited for mutations of mitochondrial DNA. The data on preimplantation diagnosis as a means of preventing or reducing the risk of inheritance of pathogenic mitochondrial DNA mutations is extremely limited, and the method is subject to the Preimplantation Diagnosis Ordinance in Germany. These two studies from Newcastle are helpful for counselling.“
”Whether a woman with mtDNA disease can expect an uncomplicated pregnancy also depends on the manifestation/severity of the woman’s disease. In cases of significant muscle weakness (including respiratory muscle weakness), this may increase during pregnancy. Natural childbirth may be difficult, making a caesarean section necessary.”
“If the mitochondrial donation procedure were also permitted in Germany, this would be an option for selected women with an mtDNA disease to significantly reduce the risk of passing on a disease-causing mtDNA variant with a heteroplasmy level above a disease-causing threshold. This would increase the chances of healthy children for families.”
“However, the data from Newcastle do not suggest that the methods used can guarantee that the disease will not be passed on. In some mtDNA variants, the severity of the disease clearly depends on the degree of heteroplasmy in the blood, so that a reduction in the degree of heteroplasmy in such cases could lead to a milder form of the disease in children.”
“In the short term, there are no good therapeutic methods for treating mtDNA diseases, so preventing the transmission of mtDNA diseases is the better option. I also consider it difficult to successfully treat children who have inherited an mtDNA variant in the medium term, as gene therapy must reach the DNA in the mitochondria. There is the example of 5q-associated spinal muscular atrophy, in which infants diagnosed in newborn screening can be treated very successfully. Unfortunately, this is not expected to be the case for mtDNA diseases in the near future.””I consider it unlikely that the two children who were symptomatic have a maternally inherited mitochondriopathy. In the case of the child with epilepsy, I would even classify this as very unlikely. I consider the authors’ assessment that the reproductive technology procedure itself or pregnancy complications or metabolic disorders in the mother may be responsible for the symptoms of the two children to be plausible.”
Nuno Costa-Borges, researcher and embryologist, scientific director and CEO of Embryotools, Barcelona Science Park, says:
“As a pioneering center in mitochondrial replacement therapies (MRT), Embryotools welcomes the recent publication by Hyslop et al. in The New England Journal of Medicine, reporting outcomes from pronuclear transfer (PNT) to prevent the transmission of mitochondrial DNA (mtDNA) disease. The study reports the birth of eight babies—four girls and four boys, including one set of identical twins—born to seven women at high risk of transmitting severe mtDNA disorders. Importantly, all infants are healthy and show no signs of mitochondrial disease. However, the detection of low-level postnatal mtDNA heteroplasmy (“reversal”) in 3 of the 8 infants (5%–16%) deserves particular discussion.
“Due to UK regulations that prohibit testing for heteroplasmy in embryos, the timing of this reversal could not be pinpointed. Their analysis relied on arrested embryos and blood samples from newborns, which limits interpretation. In contrast, our recent pilot trial using maternal spindle transfer (MST)—a form of MRT where mitochondrial replacement occurs in the oocyte before fertilization—in infertile patients led to seven live births, two of which also showed reversal, a comparable frequency. However, our approach included direct assessment of heteroplasmy in blastocysts and, longitudinally, in multiple tissues including amniotic fluid. This allowed us to accurately define that reversal occurred between the blastocyst stage and mid-gestation (~15 weeks), reinforcing the importance of prenatal testing to detect reversal early and guide clinical decision-making. In our study, all infants are also healthy and have been followed up showing no adverse events.
“This phenomenon—mtDNA ‘reversal’—has previously been described in human cells in vitro but not in MRT-derived children. Minimal levels of maternal mtDNA carryover can expand substantially, potentially compromising the efficacy of MRTs to prevent mitochondrial disease. The biological mechanisms underlying this selective amplification remain unclear but appear to occur early in development, and instances may therefore be detectable using prenatal testing. It is worth noting that the impact of mtDNA reversal in infertility treatments is likely less concerning, as maternal mtDNA in these cases does not carry pathogenic mutations. Moreover, with appropriate matching of mtDNA haplotypes between the mother and donor, the biological consequences of low-level heteroplasmy could be further minimized or even rendered clinically irrelevant.
“Currently, only the UK and Australia have regulated the use of MRT to prevent transmission of mtDNA mutations. We believe that other countries should adopt similar regulatory models. In particular, MRT should also be contemplated for infertility treatment. Infertility is a disease recognized by the WHO, and MRT can offer a genetic link to the mother for patients who would otherwise rely on egg donation. This justification aligns with the ethical principles underpinning MRT for disease prevention. As a pioneer group in this technology, Spain should lead in regulating these applications to ensure patient safety and prevent reproductive tourism to countries where such techniques may be offered without appropriate oversight.
“In light of these findings, we reaffirm the urgent need to continue performing well-regulated, larger, long-term studies to fully evaluate the safety, efficacy, and clinical implications of MRTs. Ongoing research under appropriate oversight is essential to ensure the responsible development of these technologies, improve genetic counseling, and support informed decision-making by patients and clinicians alike.
“We also advocate for thoughtful regulatory evolution that upholds patient autonomy, scientific excellence, and the principle of reproductive justice.”
Dr. Dunja M. Baston-Büst, Deputy Head of the IVF Laboratory, UniCareD Cryobank, and UniKiD Research, University Hospital Düsseldorf, Germany, said:
“Since there are currently no curative therapies for mitochondrial diseases, advances in assisted reproductive technology open up new possibilities for reducing the transmission of such variants. Preimplantation genetic diagnosis, which is commonly used to detect defects in nuclear DNA, can also be used to identify embryos with a low proportion of maternal pathogenic mitochondrial DNA variants, thereby reducing the risk of disease.
“The replacement of the donor’s zygote pronuclei with the patient’s pronuclei was successful in 127 of 160 cases (79.4 per cent). Of the 127 embryos resulting from this, 122 (96.1 per cent) were still intact on the following day (day 1). The number of intact zygotes per pre-nuclear transfer performed (33 procedures in total) ranged from zero to seven.
“In 37 of the 39 patients (95 per cent) in the preimplantation diagnosis group, the embryos were assessed on the third day after intracytoplasmic sperm injection (ICSI). For preimplantation diagnosis, a blastomere was biopsied on day three of embryonic development and transfer was usually performed in the fresh cycle after analysis of the mitochondrial DNA from the blastomere.
“Implementation in Germany is not possible under the current legal requirements (Embryo Protection Act), as egg donation is prohibited.
“The earlier and more severe a mitochondrial disease occurs, the earlier patients can be identified. Patients in Germany receive comprehensive human genetic or interdisciplinary counselling in accordance with the current S1 guideline ‘Mitochondrial Diseases’. A decision regarding the options for reproductive measures and possible preimplantation diagnosis is made in consultation with the patients and depending on the degree of heteroplasmy. Pre-implantation genetic screening is not possible in Germany due to the ban on egg donation. The alternatives are egg donation abroad or adoption.
“A patient registry for mitochondrial diseases was established in Germany in 2009. It would be beneficial for reproductive medicine if reproductive outcomes were also collected there, or analysis results if preimplantation diagnosis was performed. Unfortunately, there is no cross-linking between the registries. “Furthermore, the search for biomarkers is generally supported in Germany in order to increase the diagnostic accuracy for mitochondrial diseases.
“For reproductive medicine, I currently see no application of the technology presented in the study in Germany without a comprehensive revision of the Embryo Protection Act and the legalization of egg donation.
“The new EU SOHO Regulation will come into force in the next few years. Its main purpose is to provide greater protection for the genetic background of children born from egg and sperm donation (in addition to the amendments to the sperm donation register), so that many questions will still arise in the case of three-parent constellations.
“In mitochondrial donation using pre-nucleation transfer, the nuclear genome is transferred from a fertilized egg cell of the affected woman to an enucleated, fertilized egg cell from a healthy donor. The pronuclei are removed individually from the patients’ zygotes and, after brief treatment with a fusion agent (haemagglutinating virus from the Japanese shell), are placed together under the zona pellucida (protective shell around the egg cell; editor’s note) of the enucleated donor egg cell. Based on findings from preclinical studies, it is standard practice to freeze (vitrify) the eggs of patients for whom pre-nuclear transfer is planned, as donor eggs are not always available at the same time and in sufficient quantities.
“Pathological variants of mitochondrial DNA can be either homoplasmic (present in all mitochondrial DNA copies) or heteroplasmic (present in only some of the copies). Homoplasmic variants are passed on completely to all offspring, but their expression (penetrance) can vary from individual to individual.
“Clinical pregnancies were confirmed in eight of 22 patients (36 per cent) who underwent intracytoplasmic sperm injection (ICSI) as part of preimplantation genetic testing, and in 16 of 39 patients (41 per cent) who underwent ICSI as part of preimplantation genetic diagnosis (PGD). Pronuclear transfer resulted in eight live births and one ongoing pregnancy. PGD resulted in 18 live births.
“Heteroplasmy levels in the blood of the eight infants after pronuclear transfer ranged from undetectable to 16 per cent. Compared to the enucleated zygotes, the proportion of diseased maternal mitochondrial DNA was reduced by 95 to 100 percent in six newborns and by 77 to 88 per cent in two newborns. Heteroplasmy data were also available for ten of the 18 infants after preimplantation genetic diagnosis, with values ranging from undetectable to seven percent.
“For reasons that are still unclear, the small amount of transferred maternal mitochondrial DNA can rise to homoplasmic levels in about 20 per cent of embryonic stem cell lines derived from embryos after mitochondrial donation. In addition, one in six infants born after maternal spindle transfer for the treatment of infertility had elevated heteroplasmy levels (40 to 60 per cent) of maternal mtDNA. These observations raise the question of whether mitochondrial donation can reliably prevent the transmission of diseased mitochondrial DNA in all cases, especially in homoplasmic variants.
“Approximately one in 5,000 people develop a mitochondrial disease, making it one of the most common hereditary diseases, although the symptoms can often vary greatly. The symptoms of mitochondrial diseases are very diverse and can affect various organs, for example the muscles with muscle weakness and pain, the nervous system with encephalopathy, epilepsy and neurological disorders, the heart with heart muscle disease, the eyes with blindness and visual impairment, the ears with hearing loss and the endocrine system with diabetes mellitus.
“Other examples of mitochondriopathies with named syndromes include: autosomal dominant optic atrophy (ADOA) with slowly progressive, usually bilateral, central vision loss; Kearns-Sayre syndrome with cardiac conduction disorders, degenerative changes in the retina, and external ophthalmoplegia; chronic progressive external ophthalmoplegia, which is an incomplete form of Kearns-Sayre syndrome and is characterized by external ophthalmoplegia; MERRF syndrome with cerebellar ataxia, myoclonus, generalized seizures, short stature, and dementia; MELAS syndrome with seizures, dementia, and headaches.
“In addition to the disease entities listed here, there are a number of other, sometimes very rare syndromes that can be classified as mitochondriopathies but have often been little researched or not yet described.”
Dr Holger Prokisch, Head of the Mitochondrial Genetics Research Group, Helmholtz Centre Munich – German Research Centre for Health and Environment, Munich, said:“The field of mitochondrial medicine has been eagerly awaiting the results of this study. The robust data describe a real breakthrough for women with a (nearly) homoplasmic pathogenic mitochondrial DNA (mtDNA) variant in terms of their ability to probably have healthy genetically related children. The risk of the children to develop the disease after preimplantation genetic testing is minimal. All gene variants tested require very high heteroplasmy for the disease to manifest, or are typically homoplasmic.“”There is an observation in the literature that in a few cases, the mother’s mutated DNA is revised. Interestingly, this also involves an LHON mutation (Leber’s hereditary optic neuropathy) [3][4], which is almost always homoplasmic in the population and, according to recent data, has a low penetrance of less than five percent for LHON disease [5](only five percent of gene carriers also develop the disease; editor’s note). In this respect, the selection of mutation carriers for this study with four LHON mutations is not entirely fortunate. The homoplasmy of the LHON variants suggests that they may offer a selective advantage [6]. Since mitochondrial transfer does not eliminate the mutation, there is a risk that the mutation will be passed on to the next generation. This often leads to significant shifts in heteroplasmy, sometimes to the detriment of patients. However, disease-causing variants tend to have a selection pressure [6].“Human studies show no risk of incompatibility between the donor mtDNA and the parents’ nuclear DNA.””There is no newborn screening for mitochondrial DNA mutations. Women are identified as mutation carriers when they or one of their children develop the disease. Prediction or risk assessment for the next generation is difficult for mtDNA mutations in the mother. Many centers for mitochondrial diseases work with the group in Newcastle to provide information about the options available there or to offer preimplantation genetic diagnosis.”[3] Hudson G et al. (2019): Reversion after replacement of mitochondrial DNA. Nature. DOI: 10.1038/s41586-019-1623-3. [4] Kang E et al. (2016): Mitochondrial replacement in human oocytes carrying pathogenic mitochondrial DNA mutations. Nature. DOI: 10.1038/nature20592. [5] Mackey DA et al. (2022): Is the disease risk and penetrance in Leber hereditary optic neuropathy actually low?. The American Journal of Human Genetics. DOI: 10.1016/j.ajhg.2022.11.014. [6] Kotrys AV et al. (2024): Single-cell analysis reveals context-dependent, cell-level selection of mtDNA. Nature. DOI: 10.1038/s41586-024-07332-0.
Prof. Dr. Nils-Göran Larsson, Group Leader “Maintenance and expression of mtDNA in disease and ageing”, Department of Medical Biochemistry and Biophysics, Karolinska-Institut, Stockholm, Schweden, said: “The study in NEJM is very important and represents a breakthrough in mitochondrial medicine. It should be remembered mitochondrial diseases can be devastating and cause substantial suffering in affected children, sometimes leading to an early death. Families are profoundly affected and the paper in NEJM describe how birth of affected children can be prevented by mitochondrial donation.
“This advanced procedure is not a disease-treatment but rather an intervention that minimizes the transmission of mutated mtDNA from mother to child. For affected families this is a very important reproductive option. The paper describes a relatively small series of 8 babies born after mitochondrial donation by pronuclear transfer. The paper is carefully done and of very high quality but as always in science the results need to be confirmed by independent studies. Also, long-term clinical follow-up studies of born babies will give additional information about the safety and efficacy of mitochondrial donation.”
“Before this procedure was applied to human reproduction there was a very long development and evaluation process. There has been a lot of constructive discussion in the scientific community, and the UK Parliament approved legislation allowing mitochondrial donation in 2015.”
“Mitochondrial donation by the pronuclear transfer procedure always leads to carry-over of some mitochondria from the mother and mutant mtDNA can be transferred. The data presented in the NEJM paper shows that mutant mtDNA was not detected in blood of 5 of the born children. However, in three children, low levels of mutant mtDNA were detected in blood. These low levels of mutant mtDNA are unlikely to cause mitochondrial disease but additional follow-up studies are needed. As pointed out by the authors, the mitochondrial donation by pronuclear transfer should be regarded as a risk-reduction strategy. As always, when it comes to new medical procedures there is a need for validation by independent studies. Also, additional long-term follow-up studies of children born after mitochondrial donation will be needed.”
“The authors report that the transferred mtDNA has no mutations and the donor mtDNA is therefore unlikely to cause disease or impact ageing. During normal ageing, mtDNA acquires mutations (somatic mutations), e.g., during the massive cell division when the embryo is formed and develops. These mutations are typically present at low levels but accumulate to high levels in a subset of cells in many different ageing tissues. The mitochondrial donation involves transfer of mtDNA without mutations and there is no reason to believe that the donor mtDNA will additionally impact the ageing process.”
“When it comes disease-causing mtDNA mutations that are present in all copies (i.e., homoplasmic mtDNA mutations) there is currently no alternative to mitochondrial donation to prevent transmission of mutated mtDNA from mother to child. It is possible that alternate methods will be available in the future, e.g., correction of mutant mtDNA by gene editing techniques. There are currently a few promising pharmacological therapies for mitochondrial disease, e.g., nucleoside therapy for mtDNA depletion disorders. It is likely that more treatments will be available in the near future because this field is rapidly developing.”
Prof. Dr. Heidi Mertes, Associate Professor in Medical Ethics, Department of Philosophy and Moral Sciences, Ghent University, Belgien, said:
“I am happy to see that the first results from the Newcastle University group are now finally published, after being granted a license by the HFEA in 2017, and that the eight resulting children are in good health. However, while the results show that the technique is feasible and can lead to a substantial reduction of the mutation load in the resulting children, it also shows that we need to tread very carefully.”
“In line with previous research by the group of Nuno Costa-Borges [1], this research confirms the possibility of reversal (meaning that although there is only a small fraction of the intended mother’s mitochondrial DNA (mtDNA) in the embryo, this fraction sometimes increases substantially as the foetus develops), which could still result in mitochondrial diseases in the resulting children. Fortunately, preliminary research does indicate that while the mutation loads appear to increase between the embryonic phase and birth, they appear to remain stable after birth.”
“These are very important results as there was a lot of uncertainty over the safety of MRT. Using PGT when possible and reserving MRT for those cases in which PGT cannot offer a solution was a prudent approach given the experimental nature of MRT. It will be interesting to see more data in the future on whether reversal is more frequent in MRT or PGT, so that the safest procedure can be selected.”
“Although the heteroplasmy-levels are limited in this study, it does show that reversal is a real danger for the offspring, which can have serious health implications. At least three things follow from this.”
“First, people entering into this and future clinical trials will need to be extensively counselled that this is not a risk-elimination treatment, but a risk-reduction treatment.” “Second, we need more research into the mechanisms that trigger reversal, so that it can be prevented before this technique is implemented in routine care + We need follow-up research in the children born after MRT.”
“Third, it is important to keep in mind that by framing this as a risk-reduction strategy, we are ignoring the possibility of conceiving through a traditional egg donation procedure. While genetic parenthood is evidently important to many people, the trade-off that we are making here is that between a genetically related child with a high risk of mitochondrial disease (natural conception), a genetically related child with a reduced risk of mitochondrial disease (PGT or MRT) and a non-genetically related child with the near-absence of a risk of mitochondrial disease (through donor conception). If people who would have chosen for donor conception now opt for MRT, this is actually a risk-increasing technology, rather than a risk-reducing one.”
“This strategy lowers the risk of mitochondrial disorders in the children when the point of comparison is natural reproduction by the parents, but the safest option is still donor conception, which eliminates the risk of passing on the mitochondrial condition, rather than reducing it.”
“While the donor plays an essential role in the birth of the child, attributing them a parenthood-status based on a small genetic contribution appears unwarranted. At the same time it would be correct to call them a ‘genetic progenitor’ or ‘genetic contributor’.”
“While the group of Nuno Costa-Borges ([1] [2]) received a lot of backlash for performing their MRT clinical trial in people with repeated IVF failure, rather than people with mitochondrial diseases, we must acknowledge in hindsight that given the phenomenon of reversal, their approach might have been the more prudent one. In their study they observed reversal in one infant going from
Prof David Thorburn, co-Group Leader of Brain & Mitochondrial Research at Murdoch Children’s Research Institute and the University of Melbourne, said:
“Mitochondrial donation was legalised in the UK in 2015 and in Australia in 2022. It was clearly a complex process in the UK to develop the approvals processes, the clinical and lab pathways, cope with delays from COVID and accumulate sufficient outcomes to publish them without impinging on the privacy of the families involved.So it is very exciting to see the first publications describing results for the first 8 babies born in the UK program. The initial results demonstrate that the approach is effective in reducing the risk of having a child with mitochondrial DNA disease for women who are at high risk. For about three quarters of couples participating in the pronuclear transfer method, at least one suitable embryo was generated. About 40% of these couples had a baby and all were healthy and had undetectable or low levels of the abnormal mitochondrial DNA. Three babies had short-term symptoms that resolved and did not appear to relate to mitochondrial disease. All babies are developing normally to date, with the oldest 5 years of age.The studies emphasise that longer-term followup needs to be performed, and the efficiency of the method could be further improved to achieve higher pregnancy rates. They demonstrate the value of offering the program in conjunction with other reproductive options, such as pre-implantation genetic testing, which can be effective in women with lower risk. I regard these results as very encouraging and supporting the ongoing development and use of mitochondrial donation in the UK and Australia.
Dr Santiago Restrepo Castillo, biomedical engineer and postdoctoral researcher at the University of Texas at Austin (USA), said:
“Mitochondrial diseases are a group of chronic metabolic disorders that can be fatal. These diseases are caused by mutations in the human genome, which consists of nuclear DNA and mitochondrial DNA. In particular, metabolic disorders caused by mutations in mitochondrial DNA, which affect one in five thousand people, are maternally inherited and currently incurable. In recent years, there have been major advancements in the development of strategies for the treatment or prevention of genetic disorders caused by mutations in nuclear DNA. In contrast, similar strategies for diseases caused by alterations in mitochondrial DNA have remained largely understudied. Aiming to establish a preventive strategy for metabolic diseases caused by mitochondrial DNA mutations, the authors of this pair of studies published in the New England Journal of Medicine developed an integrated program of preimplantation genetic testing and pronuclear transfer (PGT and PNT, respectively). In this program, female patients carrying mitochondrial mutations underwent PGT to identify embryos with low levels of mitochondrial DNA mutations. In cases where an embryo with these characteristics was identified, the embryo was implanted in the patient and the course of the pregnancy was monitored. In addition, in cases where it was not possible to identify embryos with low levels of genetic alterations, the patients underwent PNT, a procedure in which mitochondrial DNA without mutations is obtained from a donor. Encouragingly, through this integrated PGT and PNT program, at the time of publication, the authors have already demonstrated a significant reduction in the maternal transmission of mitochondrial mutations in eight cases. Furthermore, the children born from these cases have shown normal development. In conclusion, this study represents a major advancement in the field of medical genetics and genomics. Understanding the current limitations of mitochondrial gene editing, which would allow genetic alterations to be corrected in different contexts, the authors chose to explore a procedure that cuts the problem off at the root by preventing the transmission of the mutated genetic material. Furthermore, this pair of studies demonstrates clinical benefits in children who, without the integrated PGT and PNT program, would likely have been born with debilitating or fatal genetic mutations. It will be exciting to see if the benefits are maintained over time, and it will be critical to further develop this integrated process to increase its success rates”.
Prof Lluís Montoliu, Research Professor at the National Biotechnology Centre (CNB-CSIC) and at the CIBERER-ISCIII, Spain, says:
“In 2016, John Zhang, a specialist doctor at an assisted reproduction clinic in New York called the New Hope Fertility Center, crossed the border into Mexico to perform a procedure that was banned in the US and not yet regulated in Mexico. A couple from Jordan had come to this clinic hoping to have viable offspring. The couple had already had two children who had died from Leigh syndrome, one of several mitochondrial diseases that are often devastating and untreatable. Mitochondria (our energy factories) are usually inherited from the mother, from the egg. The mother had approximately 25% of her mitochondria affected, and these were the ones she had passed on to her two deceased children. Dr. Zhang did not use the procedure pioneered in the UK because of the couple’s Muslim faith, which opposed the destruction of human embryos. Instead, he chose to extract the nucleus from the mother’s egg (actually the metaphase plate, an incomplete nuclear division, which is the stage at which all eggs are ready for fertilization) and transferred it to the egg of another woman (with healthy mitochondria), from which he had also previously removed the nucleus. Once the nucleus from the mother had been transferred to the egg of the second woman, he used this resulting egg to perform in vitro fertilization with sperm from the father to obtain embryos. Dr. Zhang created five embryos in this way, only one of which developed normally, was implanted in the mother’s uterus, and resulted in the birth of a healthy baby. It was the first newborn obtained using the “three-parent technique”: two mothers and one father.
“In the United Kingdom, the Human Fertilisation and Embryology Authority (HFEA) had approved another procedure in 2015, technically different but also called the “three-parent technique,” to solve problems related to mitochondrial diseases. In this case, the father’s sperm is used to fertilize (through intracytoplasmic sperm injection, ICSI) two eggs, one from the mother carrying the affected mitochondria and one from another woman with healthy mitochondria. After fertilization begins, the two pronuclei (paternal and maternal) that appear temporarily are destined to fuse and form the first nucleus of the zygote. Before this happens, researchers can extract the two pronuclei from the in vitro fertilization between the mother’s egg and the father’s sperm and transfer them to the egg of the woman fertilized by the same sperm from the father, from which the pronuclei will have been previously removed. The result is that the egg with the woman’s healthy mitochondria hosts the two pronuclei of the couple, whose baby will be born without the mitochondrial genetic disease and will be genetically from both the father and the mother. The healthy mitochondria will come from the female donor. In this procedure, which is methodologically somewhat more aggressive than the previous one but less risky, one embryo is destroyed to create another, something that the Muslim couple assisted by Dr. Zhang considered unacceptable. The first baby in the United Kingdom obtained through the authorized British three-parent procedure was born in 2023.
“Ten years later [after the approval of this technique in the UK], a team of British and Australian doctors and researchers published the results of applying the British “three-parent” technique to 22 women carrying pathogenic mutations in their mitochondria (and therefore at high risk of having children born with these incurable diseases) in the prestigious New England Journal of Medicine (NEJM). Of the 22 women treated, only 8 gave birth (36%), and one more pregnancy is still in progress. The eight babies born are healthy, with no signs or very low levels of affected mitochondria, which are not sufficient to cause the disease. So far, all eight children are doing well. Only a couple of them developed minor clinical problems, initially unrelated to the procedure, which were resolved with treatment or spontaneously. In addition, the researchers applied a second technique (preimplantation genetic testing, or PGT) to women with heteroplasmy (a mixture of healthy and affected mitochondria) to assess the percentage of affected mitochondria in babies obtained through in vitro fertilization and select those with lower values of affected mitochondria. In this case, they obtained 16 pregnancies from 39 women (41%) with the result of 18 babies born with a percentage of affected mitochondria of less than 7%.
“In Spain, our Law 14/2006 of May 26 on assisted human reproduction techniques does not explicitly refer to this technique (which did not exist when this legislation was passed), so sensu stricto the procedure is neither expressly prohibited nor explicitly authorized in our country. Essentially, it is not regulated. The legal and ethical doubts that remain have so far prevented the three-parent technique from being applied in Spain.However, this new study shows that the technique has a remarkable success rate (36%) that could well be offered to couples in which the mother is a carrier of affected mitochondria to have offspring free from terrible mitochondrial diseases. Personally, I believe that we should allow this technique in our country in assisted reproduction clinics that have adequate training in this sophisticated method of embryo intervention.”
Dr Paul Wuh-Liang Hwu, Professor, College of Medicine, Pediatrics, National Taiwan University, Taipei, Taiwan / Distinguished Research Fellow, China Medical University Hospital, Taichung, Taiwan, said:
“In this week’s New England Journal of Medicine, two research articles published by groups of researchers from the UK describe the success of mitochondrial donation treatments for mitochondrial DNA (mtDNA) diseases. Each human cell contains a few hundred mitochondria. The mitochondrion is a double membrane-bound organelle, and each mitochondrion contains a few copies of double-stranded, circular DNA molecules of around 16,500 genetic units (base pairs).
“Mitochondria are responsible for energy (ATP) production, fatty acid oxidation, and some other functions for the cells. Pathological variations or deletions of mitochondrial DNA can impair mitochondrial function, and when the proportion of defective mitochondria (heteroplasmy level) is high, cause serious symptoms involving the brain, muscle, and metabolism. During reproduction, all mitochondria are inherited from the mother (the egg). However, the level of defected mitochondria in offspring can be very different from their mothers, leaving reproduction planning almost impossible.
“In the two studies, mitochondrial donation by pronuclear transfer (PNT) was conducted to reduce the reproductive risk of women with mitochondrial diseases. Both the mitochondrial donor and patient eggs were fertilized first. The nucleus of the donor’s fertilised egg was removed and discarded, leaving behind a fertilised egg without a nucleus but with healthy mitochondria. The nucleus from the patient’s fertilised egg was then transferred into this enucleated donor egg.
“The PNT zygote was then cultured and implanted to continue pregnancy. All live births were in good health and with low levels of defective mitochondria. PNT has been widely used in animal research and now proved to be safe and efficient in humans. This breakthrough gives a reproductive choice for women affected with mitochondrial diseases, which is very important for the patients and their families. However, this study also broke the ban for continuing pregnancy of genetically manipulated human embryos. One argument is that PNT does not really touch the genetic materials but only provides normal mitochondria. The excellent outcome of this study also eases the concerns of nuclear/mitochondrial genome compatibility and other safety issues. Nevertheless, one may still worry if this technology will be abused to improve human physiological quality, for example, creating a body with more efficient energy production. Then, how about adding a little bit of normal, or good, DNA to the nuclear genome, if we can do that safely?
“As doctors and researchers who take care of patients with genetic disease, we welcome inventions, including reproduction medicine, that can help patients. Certainly, before the safety of new treatments can be confirmed, they should be used in patients with no other choices, or with a favorable benefit over risk. Recently, gene therapies, including gene editing treatments, are rapidly developing, offering hope to patients who previously have no option for treatment. However, we need to ask people to restrain themselves, not to apply PNT or gene therapy to improve the health of people without a medical condition, but to let these new treatments be developed to rescue lives of patients.”
Prof Lee Chung-HisProfessor, Graduate Institute of Health and Biotechnology Law, Taipei Medical University, Taipei, Taiwan, said:
“Pronuclear Transfer Technology: Advancing with Cautious Innovation and International Consensus. While early clinical results show promise in reducing the level of pathogenic mitochondrial DNA in newborns, the application of Pronuclear transfer (PNT) raises significant ethical and regulatory questions that must be addressed through both national oversight and international dialogue. From a bioethical standpoint, germline modification—defined as altering genetic material in a way that affects future generations—has long been met with caution. This is because it involves irreversible changes to the human genome, with potential consequences not only for the individuals born from such interventions but also for society’s understanding of what it means to be human.
“Pronuclear transfer, however, occupies a unique space in this debate. It targets mitochondrial DNA, which, although essential for cellular energy production, contributes relatively little to traits traditionally associated with identity, such as physical appearance, personality, or intelligence. Because of this limited influence on key phenotypic characteristics, PNT is viewed by some as an acceptable “ethical testing ground” for germline-level intervention. Rather than resorting to high-risk gene therapy after the onset of a hereditary disease, using PNT technology to reduce the likelihood of disease is a more ethically acceptable option. It provides a possible pathway to explore the responsible use of reproductive technologies without crossing the bright-line boundaries typically drawn around nuclear DNA modification.
“Nonetheless, mitochondrial DNA modification is not without ethical complexity. Even if its direct functional role is narrower, it still involves heritable changes and the creation of embryos with genetic contributions from three individuals—the intended mother and father, and a mitochondrial donor. This raises questions about identity, kinship, and the rights of the resulting child, especially regarding disclosure and autonomy. Moreover, the long-term health effects of such interventions remain unknown. To prevent a gradual erosion of ethical boundaries, transparent ethical review processes and long-term clinical monitoring must be established as foundational requirements for any country considering the use of PNT.
“From a clinical perspective, preimplantation genetic testing (PGT) should remain the first-line option for reducing the risk of mitochondrial disease transmission. PGT is a more established and less invasive method that allows for the selection of embryos with minimal or undetectable levels of pathogenic mitochondrial DNA. In many cases, this approach has proven effective and carries fewer biological and ethical uncertainties than PNT. In contrast, PNT is a more complex and experimental procedure that combines nuclear DNA from the parents with mitochondrial DNA from a donor egg, and it may result in lower fertilization rates or higher embryonic loss. Therefore, in keeping with the precautionary principle in bioethics, PNT should be considered only when PGT is not feasible or has been shown to be ineffective.
“The United Kingdom currently leads in the clinical implementation of PNT, having established a strict licensing and regulatory regime through the Human Fertilisation and Embryology Authority (HFEA). The UK’s model reflects a commitment to enabling scientific advancement while maintaining ethical vigilance. However, reproductive technologies such as PNT are inherently transnational. If only a few countries offer access to such procedures, it may prompt “reproductive tourism”, whereby patients travel abroad to seek unregulated or less strictly governed treatments, potentially undermining safety standards and ethical norms.
“For this reason, a coordinated international approach is urgently needed. The World Health Organization (WHO) and the World Medical Association (WMA) are well-positioned to initiate global discussions and help formulate shared ethical guidelines and governance frameworks. These discussions should encompass not only scientific and medical dimensions but also social, cultural, and legal implications. Establishing minimum ethical standards and oversight mechanisms will help ensure that the benefits of PNT are pursued responsibly and that global health equity and ethical integrity are preserved.”
‘Mitochondrial Donation and Preimplantation Genetic Testing for mtDNA Disease’ by Louise A. Hyslop et al. and ‘Mitochondrial Donation in a Reproductive Care Pathway for mtDNA Disease’ by Robert McFarland et al. was published in The New England Journal of Medicine at 22:00 UK time on Wednesday 16th July.
DOI: 10.1056/NEJMoa2415539
DOI: 10.1056/NEJMoa2503658
Declared interests
Dr David J Clancy: No interests to declare
Prof Joanna Poulton: Nothing to declare
Prof Dusko Ilic: No conflicts of interest
Prof Dagan Wells: I don’t think I have any declarations relevant to this.
Dr Andy Greenfield: Andy was a member of the board of the Human Fertilisation & Embryology Authority (HFEA) from 2009 to 2018; he was a member of its Scientific & Clinical Advances Advisory Committee (SCAAC) and Chair of its Licence Committee. He chaired the 3rd and 4th preclinical scientific reviews of the safety and efficacy of mitochondrial donation, in 2014 and 2016. Andy chairs the Independent Advisory Committee of the MitoHOPE Program in Australia. He is also a member of the board of the Human Tissue Authority (HTA), the Regulatory Horizons Council (RHC), the Advisory Committee on Novel Foods and Processes (ACNFP) and Singapore’s Ministry of Health Regulatory Advisory Panel. Andy’s programme of research in developmental genetics was funded by the Medical Research Council at its Harwell Unit from 1996 to 2021. All opinions expressed are his own and not necessarily shared by any organisations with which he is associated.
Mr Stuart Lavery: No DOIs
Prof Bert Smeets: I am scientific advisor for the HFEA on PNT applications.
Sarah Norcross: PET – https://www.progress.org.uk/ – is a charity that improves choices for people affected by infertility and genetic conditions, and that campaigned for the introduction of the Human Fertilisation and Embryology (Mitochondrial Donation) Regulations 2015 into UK law.
Beth Thompson: Wellcome funded research into mitochondrial donation and co-funded the clinical trial to assess the safety and effectiveness of the treatment.
Danielle Hamm: The Nuffield Council on Bioethics conducted an ethical review of new techniques that aim to prevent the transmission of maternally-inherited mitochondrial DNA disorders in 2012. The report and key findings of the review are available here.
HFEA: As of 1 July 2025, 35 patients have been given approval for mitochondrial donation treatment by the HFEA Statutory Approvals Committee. These decisions are made on an individual case by case basis where there are no other options for the families involved and in strict accordance with the law. The published papers set out that 25 of those patients have undergone pronuclear transfer (mitochondrial donation treatment.)
Prof. Dr. Marcus Deschauer: “Apart from the fact that I spent six months as a researcher in the Mitochondrial Research Group over 20 years ago and subsequently collaborated with the group on scientific projects, and that I am of course well acquainted with some of the co-authors of the two papers, I have no conflicts of interest.”
Dr. Dunja M. Baston-Büst: “I have no conflict of interest.”
Dr Holger Prokisch: “I have no conflicts of interest.”
Prof. Dr. Nils-Göran Larsson: “I have no conflicts of interest with this work.”
Prof. Dr. Heidi Mertes: “I have no conflicts of interest.”
Prof David Thorburn: David has declared he has no financial conflicts of interest and has the following unpaid positions:
Board Member of the Mito Foundation (the major relevant mito advocacy group) and he played a prominent role in their advocacy for legalising mitochondrial donation in Australia.
He is also a Member of the MitoHOPE Executive, funded by the Medical Research Future Fund to deliver an Australian clinical trial of mitochondrial donation.
Dr Santiago Restrepo Castillo: No conflicts of interest
Prof Lluís Montoliu: He declares that he has no conflicts of interest
For all other experts, no reply to our request for DOIs was received.
Minister of State for Trade and Investment Nicola Grigg will travel to Fiji this week to attend the Pacific Island Forum’s Trade Ministers Meeting (FTMM).
“Trade plays a critical role in getting more money into your back pocket, helping you and your family to thrive. It drives employment, economic growth, and lifts the standard of living in New Zealand and across the Pacific,” Ms Grigg says.
The Pacific Island Forum’s (PIF) biennial Trade Ministers Meeting will be held in Suva on 18 July. It is a key regional event, bringing together Pacific trade ministers to discuss and shape the future of trade and economic integration.
“The Government is strongly committed to supporting Pacific Island countries to grow the positive impacts of trade. New Zealand’s attendance at the FTMM signals our continued commitment to regional cooperation, resilience, and leadership in advancing Pacific trade priorities under the 2050 Strategy for the Pacific Blue Continent,” Ms Grigg says.
“This key regional meeting provides a timely platform to discuss the critical importance of the rules-based trading system, with the World Trade Organisation at its core. This structure is particularly vital for small countries like New Zealand and PIF members. We are best served by a world in which trade flows freely governed by rules.
“I will attend a Fiji New Zealand Business Council event where the Council will launch its strategy to help reach the joint New Zealand and Fiji goal of lifting two-way trade to NZ$2 billion by 2030.
“I also look forward to engaging with my PACER Plus Ministerial counterparts. PACER Plus is the largest and most comprehensive trade agreement in our region. It is helping both large and small businesses — including women-led businesses — to grow; reduce costs through e-commerce and enhance regulatory cooperation between governments, streamline customs processes, paperless trade, and provisions on investment that protect investors; and to promote cross-border investment flows.
“While PACER Plus is a trade agreement, with currently 10 parties, that also speaks to the bonds between our nations, as neighbours, partners, and family, whose interests, prosperity, and well-being are intertwined.”
THE WOODLANDS, Texas, July 16, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced the timing of its second quarter 2025 earnings release and conference call.
Ring plans to issue its second quarter 2025 earnings release after the close of trading on Wednesday, August 6, 2025. The Company has scheduled a conference call on Thursday, August 7, 2025 at 11:00 a.m. ET (10:00 a.m. CT) to discuss its second quarter operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the “Ring Energy Earnings Conference Call”. International callers may participate by dialing 412-317-5762. The call will also be webcast and available on Ring’s website at www.ringenergy.com under “Investors” on the “News & Events” page. An audio replay will also be available on the Company’s website following the call.
About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.
Contact Information
Al Petrie Advisors Al Petrie, Senior Partner Phone: 281-975-2146 Email: apetrie@ringenergy.com
Source: The Conversation (Au and NZ) – By Gregory Moore, Senior Research Associate, School of Agriculture, Food and Ecosystem Sciences, The University of Melbourne
Have you ever examined timber floorboards and pondered why they look the way they do? Perhaps you admired the super-fine grain, a stunning red hue or a swirling knot, and wondered how it came to be?
Or perhaps you don’t know what tree species your floorboards are made from, and how to best look after them?
Finely polished floorboards reveal detail about the timber that can be much harder to detect in unpolished boards or other sawn timbers.
“Reading” the knots, stubs and other characteristics of floorboards can reveal what type of tree produced it and how it grew. It can also reveal fascinating details about the lives of the trees they once were.
Reading floorboards can reveal what type of tree produced it, and how it grew. Greta Hoffman/Pexels, CC BY
Telling soft from hard
A variety of tree species are used to make timber floors. Hardwood species include the pale cream of Tasmanian oak, the honeyed hues of spotted gum and the deep red of jarrah.
Other times, softwood such as pine or spruce is used. Such species are often fast-growing, and prized for their availability and affordability.
Hardwoods are, by definition, flowering trees, while softwoods are from cone-bearing trees. Paradoxically, not all softwoods are soft or hardwoods hard. The balsa tree, for example, is a fast-growing hardwood tree renowned for its soft wood.
It’s not always easy to tell if a floor is hardwood or softwood, but there are discernible differences in their appearance.
Softwood such as pine or spruce is often fast-growing. Geography Photos/Universal Images Group via Getty Images
Tales in the grain
The real differences between softwood and hardwood lie in the anatomy and structure of the “xylem tissues” that make up the wood. These tissues transported water and nutrients from the roots to the rest of the plant when the tree was alive.
The arrangement of xylem tissue in the tree largely determines the “grain” in your floorboards. The grain is the appearance of wood fibres in the timber. The grain can be straight, wavy or spiralled.
In floorboards with straight grains, a tree’s growth history may be clear. As a tree trunk grows in diameter, it typically produces a layer of bark on the outside and a lighter layer of xylem tissue on the inside. When a tree is cut horizontally, the growth appears as rings. In a tree cut lengthwise (which happens when floorboards are milled) the growth appears as long lines in the timber.
If the lines in floorboards are very close together, this indicates the tree grew slowly. Wider lines suggest the tree grew rapidly.
Vessels in a tree’s xylem transport water from the roots to the rest of the plant. Hardwood tree species tend to have large vessels. This gives hardwood floorboards a coarser-grained and less uniform appearance. In contrast, softwood species such as conifers have smaller, dispersed vessels and produce more fine-grained, smoother timber.
Knots in floorboards occur when a branch dies or is cut, then tissue grows over the stub. The bigger the missing branch, the more substantial the knot.
Knots in floorboards can reveal much about the source tree. Pine, for example, often features multiple small knots originating from a common point. This reflects the growth pattern of young plantation pines, where several branches grow out from the trunk at the same height from the ground.
Often, the distance between knots tells us how quickly the tree grew. The greater the distance between the knots, the faster the tree grew in height.
The presence of a tree’s “defence chemicals”, known as polyphenols, can be seen clearly in some floorboards.
Polyphenols in floorboards sometimes appear as dark brown verging on black. Author provided
Polyphenols protect plants against stressors such as pathogens, drought and UV radiation.
The chemicals contribute to the red hue in some floorboards. Because polyphenols have a preservative effect, they can also make timber more durable.
Dark reddish or brown timbers containing a high concentration of polyphenols include mahogany, merbau, red gum, ironbark and conifers such as cedar and cypress.
In cases where a tree is burnt by fire, or attacked by insects or fungus, it produces a lot of polyphenols at the site of the damage.
In these cases, the presence of polyphenols in floorboards can be very obvious – sometimes appearing as a section that is dark brown verging on black.
Keeping your floorboards for longer
It’s widely known that living trees store carbon, and that this helps limit climate change. It’s less well known that timber floorboards also store carbon. And as long as that timber is preserved – and not destroyed by fire, decay or wood rot – that carbon will stay there.
If floorboards have to be removed, try to make sure the timber is reused or repurposed into other products.
And if you are installing a new polished timber floor, or already have one, there are steps you can take to make it last for a long time.
Softwood boards will benefit from a hard surface coating, especially in high-use areas.
Reducing the exposure of the floor to bright sunlight can preserve the colour of the floorboards and prolong the life of the coating and the timber itself.
Large knots in floorboards can twist and start to protrude from the surface. To ensure the floor remains even and safe, and to prevent the board from splitting, secure the knot to a floor joist with a nail or glue.
And take the time to understand the lessons embedded in your floorboards. They have much to teach us about biology and history, if we take the time to read them.
Gregory Moore does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
TOP AFRICA NEWS (www.TOPAFRICANEWS.com) has been recognized as the Best Environment & Natural Resources News Platform 2025 by MEA Markets, highlighting its significant contribution to environmental journalism across Africa.
This latest accolade caps a series of distinguished awards for the platform, including SME of the Year (2022), Best International Publication Service Provider (2023), and Best Marketing Service Provider (2024), demonstrating consistent excellence and leadership in the region’s media landscape.
Founder and Managing Director Mr. DUSABEMUNGU Ange de la Victoire expressed pride in the achievement, stating, “Being named the best platform in this vital field underscores our dedication to covering critical environmental issues affecting Africa. It motivates us to continue delivering impactful, accurate, and insightful journalism that can influence policy and inspire sustainable change across the continent.”
He emphasized the platform’s mission, saying, “At TOP AFRICA NEWS, our goal remains to amplify Africa’s stories on issues like natural resources, conservation, and sustainable development—topics that are pivotal for the continent’s future. This award reaffirms our role as a trusted voice for Africa’s environment and natural resources sectors.”
Available on www.TOPAFRICANEWS.com, the website provides comprehensive coverage of topics ranging from agriculture and tourism to youth engagement and peacebuilding, aiming to inform and empower communities across Africa.
As climate and environmental challenges grow more urgent, TOP AFRICA NEWS pledges to sustain its focus on delivering high-quality news that drives awareness, action, and sustainable development across Africa.
Distributed by APO Group on behalf of TOP AFRICA NEWS.
About TOP AFRICA NEWS: TOP AFRICA NEWS is a Private shareholder Digital News Website managed by AFRICA NEWS DIGEST Ltd, a Domestic Company registered in Rwanda Development Board. Available on www.TOPAFRICANEWS.com, this website publishes stories from across Africa focusing on Environment, Natural resources, Livestock and Agriculture, Tourism and conservation, Youth, Sports and Culture, Peace Building, Health, Infrastructure and ICT, Security, Education, Business and Banking. The main objective of this website is to tell the World the real Africa’s Story from the real and reliable sources. We Publish News Stories, Supplements stories, advertorials, Feature stories among many others. We are based in Kigali, Rwanda.
Source: United States House of Representatives – Congressman Bob Latta (R-Bowling Green Ohio)
Latta’s Bipartisan HALT Fentanyl Act Now Law of the Land
Washington, July 16, 2025
Today, Congressman Bob Latta (OH-5) announced that President Donald Trump signed into law his bipartisan Halt All Lethal Trafficking (HALT) of Fentanyl Act. Co-led by Congressman Latta and Congressman Morgan Griffith (VA-9), this new law permanently classifies fentanyl-related substances (FRS) as a Schedule I drug under the Controlled Substances Act. A schedule I controlled substance is a drug, substance, or chemical that has a high potential for abuse; has no currently accepted medical value; and is subject to regulatory controls and administrative, civil, and criminal penalties. According to the National Institute on Drug Abuse and the Centers for Disease Control and Prevention, over the past five years, more than 324,000 fentanyl-related deaths have been recorded in the United States.
“Today marks a crucial day in the fight against the opioid epidemic as my bipartisan HALT Fentanyl legislation is now the law of the land to help protect American communities by cracking down on deadly fentanyl-related substances and saving lives,”said Latta.“With this law, we’re permanently classifying fentanyl-related substances as a Schedule I drug so that the penalties can be put in place to dissuade more hardworking Americans from falling victim to the poison and make our neighborhoods safer. I thank President Trump for signing this vital legislation into law to add another tool in our fight to keep dangerous drugs off our streets and out of the hands of our communities across Ohio and the country.”
Congressman Latta has consistently championed legislation to fight against the opioid epidemic. Last Congress, he led the HALT Fentanyl Act through the Energy and Commerce Committee and the House, demonstrating his leadership and commitment to combating the spread against deadly fentanyl-related substances.
In 2018, Congressman Latta along with the Energy and Commerce Committee passed the Substance Use-Disorder Prevention that Promotes Opioid Recovery and Treatment for Patients and Communities (SUPPORT) Act, a comprehensive legislative package to tackle the opioid crisis. Included in this legislation was Congressman Latta’s Indexing Narcotics, Fentanyl, and Opioids (INFO) Act, a bill aimed to improve data collection and transparency regarding opioid treatment programs. This year, Congressman Latta played a crucial role in reauthorizing the SUPPORT Act with the same goal of continuing to support those battling substance abuse.
He has also penned multiple op-eds in support of this legislation including in the Washington Examiner and Washington Times, helping to raise national awareness and save lives.
Source: United States House of Representatives – Congressman Morgan Griffith (R-VA)
U.S. Congressman Morgan Griffith (R-VA) attended a White House bill signing ceremony for S. 331, the Halt All Lethal Trafficking of (HALT) Fentanyl Act today. The bill is the companion bill to Rep. Griffith’s and Rep. Latta’s HALT Fentanyl bill, H.R. 27, which passed the House earlier this year. The HALT Fentanyl Act now becomes the law of the land.
Coverage of the ceremony can be viewed here.
On the legislation becoming law, Congressman Griffith issued the following statement:
“As a leading proponent of the HALT Fentanyl Act since Day One, I am glad to see this important bill become law!
“I appreciate my Congressional colleagues and President Trump for their relentless support of the HALT Fentanyl Act and their determination to combat the deadly fentanyl crisis. Today is an important step in taking action against lethal fentanyl-related substances and saving lives.
“I look forward to supporting future actions that strengthen our fight against the fentanyl crisis.”
BACKGROUND
The U.S. House of Representatives passed Rep. Griffith’s and Rep. Latta’s H.R. 27on February 6, 2025. Their statement is available here.
In February, the Trump Administration issued a statement of Administration policy signaling their support of the HALT Fentanyl Act.
The Senate version, S. 331, passed the Senate on March 14, 2025, and the House on June 12, 2025.
While under consideration, Congressman Griffith managed floor debate on the HALT Fentanyl Act. His remarks can be seen here.
The HALT Fentanyl Act permanently classifies lethal fentanyl-related substances as Schedule I substances, closing a dangerous loophole traffickers are exploiting. The temporary Schedule I designation was set to expire in September 2025.
The bill also enables a streamlined registration process for medical research into fentanyl-related substances.
The recently-passed reconciliation bill will help the Trump Administration in its efforts to combat the fentanyl crisis. The bill boosts funding for border and immigration enforcement agencies and activities related to combatting trafficking of drugs, including deadly fentanyl-related substances.
This July, Congressman Griffith was named Chairman of the House Committee on Energy and Commerce Subcommittee on Health.
TRAVERSE CITY, Mich. — Officers and agents with ICE Detroit arrested a suspected member of the foreign terrorist organization Tren De Aragua in Traverse City, Michigan, on the 4th of July.
Enforcement and Removal Operations alongside Homeland Security Investigations arrested Kleiber Siso Balza, a 25-year-old illegal alien from Venezuela.
Siso has an active warrant out of Virginia for possession of burglary tools and a pending charge out of Florida for larceny. Siso was apprehended in the company of three other men who were also in the country illegally.
“Our teams are working daily to remove criminal aliens and immigration violators from our communities across Michigan and Ohio,” said ICE ERO Detroit acting Field Office Director Kevin Raycraft. “I’m extraordinarily grateful to our officers for their service, especially when they sacrifice time with their own families to keep our communities safe.”
“Tren De Aragua is known to engage in sex trafficking, debt bondage, drug trafficking, and murder to advance their interests,” said ICE HSI Detroit acting Special Agent in Charge Jared Murphey. “We’re thankful to have the assistance of our TSA, Federal Air Marshals and IRS partners in executing this important mission.”
Members of the public can report immigration crimes or suspicious activity by dialing the ICE Tip Line at 866-DHS-2-ICE (866-347-2423) or completing the online tip form.
Learn more about ICE Detroit’s mission to increase public safety in our Michigan and Ohio communities on X at @ERODetroit and @HSIDetroit.
Thank you, Chairman [Chris] Hayward. You have once again gone out of your way to make me feel welcome in London. Thank you also to all of you who are here today. Before I begin, I must remind you that my views are my own as a Commissioner of the United States Securities and Exchange Commission and not necessarily those of the SEC or my fellow Commissioners or of anyone else in U.S. Government.
It is an honor to stand before you in this grand and historic room. The Guildhall is a symbol of resilience—the site is rich with centuries of history that enliven a vibrant present—and renewal—when fire or war has damaged the place, reconstruction followed. Notably, the Guildhall survived London’s Great Fire of 1666, though not fully intact.[1] Samuel Pepys, the go-to eyewitness of the fire that burned much of London to the ground, described watching “the fire grow . . . in a most horrid malicious bloody flame” so that it “made [him] weep to see it.”[2]
Although the fire’s official death toll was remarkably low at six people, the four-day conflagration caused years of immeasurable human suffering for an overwhelmingly homeless, and universally, haunted population.[3] Pepys, whose house survived the blaze—as presumably did the Parmesan cheese he had buried before fleeing the oncoming flames[4]—remarked a few days after the fire that he “sleeping and waking had a fear of fire in my heart”[5] and in 1667 still could not “sleep at night without great terrors of fire.”[6] Rebuilding began right away but took decades to complete. In December 1667, Pepys observed that “the city [had] got a pace on in the rebuilding of Guildhall.”[7] As with any large-scale reconstruction, conflicting architectural plans, regulatory uncertainty,[8] and legal wrangling about how to rebuild and who foots the bill sometimes slowed progress. But, with the help of its financial markets,[9] the city rebuilt itself from the ashes, this time with less flammable materials.[10]
London’s ability to survive and thrive after the Great Fire served as a precedent for its later perseverance through and recovery from the ravages of World War II bombings of the city. Pepys was not around to document those events, but photographic evidence tells of the destruction and suffering in a way that words could not.[11] Photos of the post-air-raid Guildhall reveal a pile of rubble against a still-standing grand backdrop.[12]
Again, London rebuilt the Guildhall and the rest of itself from its bombed ruins into a thriving metropolis. The United States through the Marshall Plan and other measures helped to finance that effort. That assistance, a continuation of the wartime alliance, is evidence of a relationship that runs deep between our nations. Physical manifestations of that connection exist in the damaged London church that was reconstructed as a memorial to Winston Churchill in Missouri[13] and in the bomb detritus that was shipped from the United Kingdom in empty aid ships returning to the United States and used to build parts of New York City.[14] The US-UK bond also reveals itself in the intertwining of our markets for human talent, capital, physical goods, and services, including financial services.
Smart financial regulation embraces and perpetuates the knitting together of our two nations. Because we share so many of the same principles, the United Kingdom is a natural partner with the United States in the endeavor to foster resilient and robust global capital markets. We have a long history of working together. We both have common-law systems that afford strong legal protections to investors. We share an appreciation for the role capital markets play in empowering our people to build a vibrant, prosperous society. We both recognize the importance of market-driven capital allocation decisions in ensuring that society builds the right things and builds them well. We both acknowledge the importance of innovation and competition in serving people’s needs. Both jurisdictions value an environment in which incumbents and new entrants can try new things and change the way old systems work. Both jurisdictions, by promulgating and implementing generally sensible and properly focused regulatory frameworks, have fostered capital markets that attract global investors and talent.
Shared principles alone are not enough to bind our markets together. Regulatory cooperation, which takes many forms, helps too. I have benefited on this trip, for example, from bilateral meetings with my UK counterparts, and similar meetings happen frequently between UK and US officials. Supervisory colleges bring regulators and supervisors together to compare notes on multinational market participants. Substituted compliance—a tool we have used in security-based swaps regulation[15]—enables a market participant that meets one jurisdiction’s regulatory requirements to satisfy the rules of the other jurisdiction geared toward a similar objective. UK and US regulators have worked together to overcome data access challenges to clear the way for US examinations of the more than 270 UK investment advisers serving clients in the US and for additional UK advisers to join their ranks.[16] UK and US authorities also routinely cooperate on enforcement matters by, for example, facilitating one another’s investigations of potential securities law violations.
Just over a year ago, I suggested another tool for regulators to use in bringing our markets together. In a comment letter to the Bank of England and the Financial Conduct Authority on their consultation on a digital securities sandbox, I suggested a cross-border sandbox.[17] The UK government had proposed a digital securities sandbox, which was limited to UK firms, to generate real-world insights about whether distributed ledger technology could streamline the issuance, trading, and settlement of securities without undermining investor protection, market integrity, or financial stability.[18] I posited that a cross-border version of the sandbox could be even more effective: innovators could benefit from simultaneously serving UK and US markets; regulators, relying on information sharing agreements, could benefit by seeing more data on how complex emerging technologies operate in different contexts; and the British and American public could benefit by being served by a greater pool of product and service providers.
As I envisioned it, a very flexible US micro-innovation sandbox would pair well with a UK sandbox; participants could adhere to a single set of conditions in both jurisdictions. Details matter, and I ended the letter by welcoming a discussion on how we might bring a cross-border sandbox to life. I have appreciated expressions of interest from the public and private sector in the UK, including much useful feedback gathered by Chairman Hayward and his colleagues at the City of London. Several months ago, referring to my sandbox, Chancellor Reeves advocated “explor[ing] opportunities to support industry to innovate cross-border . . . potentially allowing greater digital collaboration between capital markets in New York and London.”[19] And at last night’s Mansion House Speech, Chancellor Reeves reiterated her support for “proposals for greater digital collaboration between our two financial centres.”[20]
The goal of future conversations between our two jurisdictions should be a financial system better able to serve UK and US investors, innovators, and entrepreneurs. A sandbox can serve as a bridge between our current rulebooks and future financial markets by allowing people to experiment with technology that may underpin the markets of the future.
As I have thought more about the sandbox idea in the past year and talked with others, several themes have emerged. First, perhaps the term “sandbox” undersells the efficacy of the tool. “Sandbox” describes a regulatory mechanism that the UK and other jurisdictions have put to productive use.[21] Yet the term evokes for some an isolated laboratory environment with no prospect of long-term commercialization and for others children at play. Innovators are childlike only in their healthy sense of curiosity, which enables them to identify and solve societal problems. As I have said before, beaches are better than sandboxes. Beaches give innovators more room to formulate and reformulate ideas within eyeshot of the regulator—in this analogy the lifeguard—but lifeguards do not opine every time a beachgoer adds a turret to her sandcastle, as a regulator sitting in a sandbox with the innovator might be tempted to do.[22] Despite its appeal to this freedom-lover, “cross-border beach” is unlikely to catch on as a term. Maybe we can come up with another descriptor such as technology incubator, but meanwhile we are stuck with “sandbox.”
Second, a sandbox has limited utility unless it comes with a smooth exit ramp that takes the participant into a workable permanent regulatory environment. Incorporating an effective exit ramp facilitates commercial experiments that lead to better, cheaper products and services and a more resilient and efficient financial market infrastructure.
Third, and related, a sandbox with time, customer, or activity limits, absent a nimble mechanism to extend the timeline or raise the limits, could put sand in the gears of a growing company or even bring it to a screeching halt. After a period of slow and steady growth, user interest might spike suddenly. If a regulator were not able to react quickly, the company would have to turn new users away, which could color adversely the public’s perception of the company. Similarly, regulators must stand ready to work with participants to change conditions as needed. As part of the standard innovation process, a team may start with one idea and pivot in response to market demand.
Fourth, incumbent firms and new entrants should have equal access to the sandbox. Some observers worry that if entry criteria are not transparent, the sandbox could become a mechanism for regulators to pick winners. Everyone should be able to participate on the same terms, but the whole point of a sandbox is to accommodate experimentation with different ways of doing things. Transparent terms available to everyone with an option to iterate may address this concern. In operating a sandbox, regulators also must be cognizant of the cost of participating, which can be prohibitive for small entities or even for large firms if long-term commercialization is not a reality. A proactive invitation to firms of all shapes, ages, and sizes to come in and talk about whether the sandbox is right for them can help not only to combat perceptions of favoritism, but to build trust, and inform regulators of market developments.
Fifth, regulators cannot force participants into a sandbox. A cross-border sandbox only makes sense if it streamlines the road to commercial viability for a company that wants to serve both the UK and the US. Sandbox projects need to be organically generated, not planned by government working groups. As London found out in rebuilding after the 1666 fire and after the wartime firebombing, grand plans drawn up by experts often give way to organic building in response to real and immediate human needs. Operationalization of a sandbox may have to wait until a company with a concrete idea for cross-border activity approaches both regulators, though I look forward to preparatory discussions in the meantime, including joint discussions with firms and both sets of regulators in the same room.
Sixth, the conditions imposed by a cross-border sandbox would need to be workable for both jurisdictions. For example, I would not support conditioning a sandbox on sustainability or diversity objectives. Extracting conditions unrelated to—and potentially distracting from—the safe and effective functioning of the project would be an improper use of financial regulation to achieve political outcomes.[23]
Seventh, although not a new thought, many people have underscored the importance of protecting investors and markets from harm caused by sandbox activities. These objectives align with the SEC’s mission, but an often-forgotten part of protecting investors and markets is ensuring that new competitors, products, services, and ways of doing things can come into the market. A sandbox constrains, but does not eliminate, risk, which is consistent with sound regulation. As Chancellor Reeves noted last night, regulation can “go too far in seeking to eliminate risk.”[24]
Much of my thinking about a potential sandbox has been in connection with crypto. Blockchain technology, given its early stage and potential for transforming the way our financial system and perhaps other systems work, is ripe for experimentation. The SEC’s Crypto Task Force has received written comment on the issue of sandboxes.[25] The topic of fostering experimentation also comes up in some of the Task Force’s meetings with the public.[26] Market participants are looking to experiment with bitcoin and other crypto assets, stablecoins, non-fungible tokens, digital identity solutions, collateral management, and tokenization of securities and assets such as real estate, among other issues. Blockchain allows for increased transparency, enhanced efficiency, lower costs, increased liquidity, and decentralization. In recent years, many use cases for the technology likely remained unexplored in the face of regulatory hostility or died in the labyrinth of regulatory ambiguity before they could achieve commercial success. The unique challenges and opportunities raised by blockchain technology and crypto assets and their borderless nature would lend themselves well to a mechanism for facilitating experiments and could help to identify where and how existing regulations might need to change in response. Because market participants are exploring numerous models, a sandbox for tokenizing securities might make sense. Building in cross-border interoperability will be easier now than later when business models have matured. I head back to the US today with the hope that the Crypto Task Force can collaborate with the FCA in coordination with our domestic colleagues across the government and in the context of the Administration’s broader cooperation with the United Kingdom.
Because I prize the ability of capital to flow to its highest and best use, regardless of borders, and of investors to share in the wealth created by entrepreneurs all over the world, I also hope that our cross-jurisdiction partnership can serve as an example of how more than just our two nations can align interests in pursuit of a freer and more prosperous society. Fundamental differences in approaches to and objectives of financial regulation, however, could impede such efforts. Securities markets are key to solving all manner of problems, but only if market participants are free to respond to market incentives rather than serving as robotic mercenaries in a government-orchestrated initiative to achieve objectives unrelated to investor protection, efficiency, competition and capital formation. As Europe’s embrace of double materiality in corporate reporting and export of its sustainability disclosure requirements have laid bare, market integration suffers when two jurisdictions diverge on core matters such as the purpose of financial statements and other securities disclosures.
On a related note that may be relevant to some people in the room, the SEC recently asked for comment on the definition of a Foreign Private Issuer (“FPI”), which provides a number of specific accommodations from which eligible FPIs may currently benefit as compared to domestic issuers.[27] One of the few comments to date came from an FPI based in the UK urging us “to consider carve-outs or refined eligibility criteria that preserve FPI status for companies with genuine foreign governance and infrastructure, regardless of shareholder geography or incorporation jurisdiction.”[28] That first-hand perspective is valuable, and I look forward to hearing from other interested members of the public, including UK companies, on this topic with similar or differing views.
Thank you for indulging me today with your attention. I hope that the coming months will bring continuing discussions about how people from our two countries can work together for our mutual prosperity and benefit. Cross-border cooperation, whether in the context of crypto or capital markets, is a good way to fan the flames of our long friendship.
[3] For an interesting discussion of the fire and its aftermath see Not Just the Tudors Podcast: Great Fire of London (May 28, 2023).
[8] Pepys gives us a glimpse of the effect of regulatory uncertainty, when he notes in his diary that a friend told him in “his opinion that the City will never be built again together, as is expected, while any restraint is laid upon them. He hath been a great loser, and would be a builder again, but, he says, he knows not what restrictions there will be, so as it is unsafe for him to begin.” Samuel Pepys, Diary Entry on February 27, 1667, https://www.pepysdiary.com/diary/1667/02/28/.
[9] Judy Stephenson, Nathan Sussman & D’Maris Coffman, The financing of the rebuilding of London after the Great Fire, Economic Historical Society Blog (Feb. 9, 2022), https://ehs.org.uk/the-financing-of-the-rebuilding-of-london-after-the-great-fire/ (“London’s financial market extended the Corporation credit at an average of 4 per cent in the key period of rebuilding. . . . Remarkably, as the costs of rebuilding mounted, and war with the Dutch began, in addition to political upheaval, the Corporation was able to tap considerable funds for most of the cost of initial reconstruction at declining interest rates.”).
[15] See, e.g., Order Granting Conditional Substituted Compliance in Connection with Certain Requirements Applicable to Non-U.S. Security-Based Swap Dealers and Major Security-Based Swap Participants Subject to Regulation in the United Kingdom, Securities Act Release No. 34-92529, (July 30, 2021), https://www.sec.gov/files/rules/other/2021/34-92529.pdf.
[21] See, e.g., Stuart Alderoty, Sameer Dhond & Deborah McCrimmon, Ripple May 28, 2025 Written Input Submission to SEC Crypto Task Force, https://www.sec.gov/files/ctf-written-input-ripple-letter-regulatory-sandboxes-052825.pdf (mentioning, in addition to the UK’s Digital Securities Sandbox, Singapore’s Project Guardian, the EU Blockchain Regulatory Sandbox, the Swiss Sandbox and Fintech License, the UAE Sandbox, and the Dubai Sandbox).
[23] SeeAll. for Fair Bd. Recruitment v. Sec. & Exch. Comm’n, 125 F.4th 159 (5th Cir. 2024). See also Commissioner Hester M. Peirce, Statement on the Commission’s Order Approving Proposed Rule Changes, as Modified by Amendments No. 1, to Adopt Listing Rules Related to Board Diversity submitted by the Nasdaq Stock Market LLC, U.S. Securities and Exchange Commission (Aug. 6, 2021), https://www.sec.gov/newsroom/speeches-statements/peirce-nasdaq-diversity-statement-080621.
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Source: United States Senator Alex Padilla (D-Calif.)
Padilla, Chu, Colleagues Join Union Workers to Announce Legislation to Protect Workers from Extreme Heat
WATCH: Padilla pushes for enforceable workplace heat stress protections after hottest year on record
WASHINGTON, D.C. — Today, on the heels of another harsh heat wave across California, U.S. Senator Alex Padilla (D-Calif.) and Representative Judy Chu (D-Calif.-28) joined union workers from the United Farm Workers (UFW), American Federation of State, County and Municipal Employees, and United Steelworkers to announce their bipartisan, bicameral legislation to implement federal enforceable workplace heat stress protections.
Co-leads of the legislation include U.S. Senators Edward J. Markey (D-Mass.) and Catherine Cortez Masto (D-Nev.), and Representatives Robert C. “Bobby” Scott (D-Va.-03), Ranking Member of the House Committee on Education and Workforce, and Alma Adams (D-N.C.-12).
To address the increasing risks from extreme temperatures, the lawmakers introduced the Asunción Valdivia Heat Illness, Injury, and Fatality Prevention Act, legislation to protect the safety and health of indoor and outdoor workers who are exposed to dangerous heat conditions in the workplace. The legislation would protect workers against occupational exposure to excessive heat by requiring the Occupational Safety and Health Administration (OSHA) to establish an enforceable federal standard to protect workers in high-heat environments with commonsense measures like paid breaks in cool spaces, access to water, limitations on time exposed to heat, and emergency response for workers with heat-related illness. The bill also directs employers to provide training for their employees on the risk factors that can lead to heat illness and guidance on the proper procedures for responding to symptoms.
The bill is named in honor of Asunción Valdivia, who died in 2004 after picking grapes for 10 hours straight in 105-degree temperatures. Mr. Valdivia fell unconscious, but instead of calling an ambulance, his employer told Mr. Valdivia’s son to drive his father home. On his way home, he died of heat stroke at the age of 53.
“Asunción Valdivia’s death was completely preventable, yet his story is sadly not unique. As the planet continues to grow hotter, there is still no federally enforceable heat safety standard for workers. That’s not just dangerous for the farm workers and construction workers who work all day outside in the sun — it’s also dangerous for the factory and restaurant workers in boiling warehouses and kitchens,” said Senator Padilla. “Every family deserves to know that even on the hottest day, their loved one will come back home. A national heat safety standard would provide that peace of mind and finally give workers the safety they deserve.”
“Even as heat waves become more frequent, longer-lasting, and more severe, red state politicians are rolling back heat protections and child labor protections across the country. It’s not rocket science—you cannot be pro-worker if you are anti-heat protection,” said Senator Markey. “Our legislation would provide workers with basic, effective protections: access to water, access to shade, time limits on high heat exposure, and procedures for emergency medical response. Every worker deserves to know when they clock in that they will return home safe at the end of their shift. The thermometer is rising and the clock is ticking. Republicans want to sacrifice working Americans. Let’s save our workers instead.”
“From farmhands to construction workers, America’s essential workforce is doing important work while under extreme heat conditions,” said Senator Cortez Masto. “Temperatures continue to reach record highs in Nevada and across the United States. We must act now to protect our communities’ vital workers.”
“As we continue to experience record-breaking summer heat waves, we’re also seeing a distressing increase in cases of workers collapsing and even losing their lives due to excessive heat. I will never forget people like Asunción Valdivia or Esteban Chavez Jr., who passed away in Pasadena, California in 2022 after a day of delivering packages in 90-degree heat in a truck without air conditioning. Unfortunately, their tragic deaths were entirely preventable,” said Representative Chu. “Whether on a farm, driving a truck, or working in a warehouse, workers like Asunción and Esteban keep our country running while enduring some of the most difficult conditions—often without access to water or rest. To protect our workforce and save lives, we must pass this bill into law and establish comprehensive and enforceable federal standards addressing heat stress on the job.”
“This summer, Americans across the country are grappling with some of the hottest temperatures on record. Yet workers in this country still have no legal protection against excessive heat—one of the oldest, most serious, and most common workplace hazards. Heat illness affects workers in our nation’s fields, warehouses, and factories, and climate change is making the problem more severe every year,” said Ranking Member Scott, House Committee on Education and Workforce. “This legislation will require OSHA to issue a heat standard on a much faster track than the normal OSHA regulatory process. I was proud to advance this important bill in 2022, and I urge Chairman Walberg and Committee Republicans to do so again this Congress. Workers deserve nothing less, particularly as heat-related illnesses and deaths rise.”
“As we face record temperatures, it has never been more important that we protect our workers facing extreme heat in the workplace,” said Representative Adams. “Last year, a North Carolina postal worker Wendy Johnson lost her life to heat illness after spending hours in the back of a postal truck on a 95-degree day with no air conditioning. Her death was entirely preventable, and Wendy should still be with us today. I’m proud to introduce this bill so we can honor her memory and ensure every worker has the protections from extreme heat that Wendy deserved.”
According to the National Oceanic and Atmospheric Administration (NOAA), 2024 was the warmest year on record for the United States. The past decade, including 2024, was the hottest on record, marking a decade of extreme heat that will only get worse. Heat-related illnesses can cause heat cramps, organ damage, heat exhaustion, stroke, and even death. Between 1992 and 2017, heat stress injuries killed 815 U.S. workers and seriously injured more than 70,000. The Washington Center for Equitable Growth estimates hot temperatures caused at least 360,000 workplace injuries in California from 2001 to 2018, or about 20,000 injuries a year. The failure to implement simple heat safety measures costs U.S. employers nearly $100 billion every year in lost productivity.
From 2011-2020, heat exposure killed at least 400 workers and caused nearly 34,000 injuries and illnesses resulting in days away from work; both are likely vast underestimates. Farm workers and construction workers suffer the highest incidence of heat illness. And no matter what the weather is outside, workers in factories, commercial kitchens, and other workplaces, including ones where workers must wear personal protective equipment (PPE), can face dangerously high heat conditions all year round.
The Asunción Valdivia Heat Illness, Injury, and Fatality Prevention Act has the support of a broad coalition of over 250 groups, including: Rural Coalition, International Brotherhood of Teamsters, AFL-CIO, UNITE HERE!, Communication Workers of America, Alianza Nacional de Campesinas, Sierra Club, United Farm Workers, Farmworker Justice, Public Citizen, International Union of Bricklayers and Allied Craftworkers, United Food and Commercial Workers International Union, Union of Concerned Scientists, United Steelworkers, National Resources Defense Council, American Lung Association, and Health Partnerships.
“Every worker safety rule in America is written in blood,” said UFW President Teresa Romero. “The UFW has been fighting for heat safety protections for decades. Over 20 years later, Asuncion Valdivia’s death still hurts. There are so many other farm workers — many whose names we do not know — who have also been killed by extreme heat on the job in the years since. Enough is enough. Every farm worker deserves access to water, shade, and paid rest breaks — it’s past time for Congress get this done.”
“Too many workers – including AFSCME members – have lost their lives on the job as a result of blistering heat waves and record-breaking temperatures,” said AFSCME President Lee Saunders. “As the number of heat-related illnesses and fatalities continue to rise, it is well past time we adopt nationwide safeguards to better protect the workers who maintain our infrastructure, keep our streets clean, harvest our food, and keep our economy moving. We at AFSCME thank Senator Padilla and Representative Chu for introducing the Asunción Valdivia Heat Illness, Injury, and Fatality Prevention Act, which will ensure essential workers who brave the heat can do their jobs safely and effectively, and most importantly, make it home alive.”
“For the Steelworkers Union, we represent workers in manufacturing settings and in a host of other areas where not only is it hot outside, but the areas that they work around are as hot as up to 3,000 degrees and they must wear protective equipment. The Asunción Valdivia Heat, Illness, Injury, and Fatality Prevention Act is important because it will provide a basic standard for not just outdoor, but indoor workplaces as well to ensure that there is proper rest breaks and the ability to stay cool. The Steelworkers are absolutely supportive of this bill and are going to work with Republicans and Democrats to ensure that heat illness is the last thing a worker should worry about,” said Roy Houseman, Legislative Director of United Steelworkers.
“Everyone deserves safe working conditions, but powerful corporations have not done enough to protect their workers from hot working environments, exacerbated by the climate crisis,” said Liz Shuler, President of the AFL-CIO. “Extreme heat is increasingly causing indoor and outdoor workers to collapse or even die on the job, and our union family has already lost too many members to preventable, work-related heat illness. The Occupational Safety and Health Administration (OSHA) must issue a strong heat rule, not a weak one, to ensure workers have specific protections they need and to be able to raise unsafe working conditions without fear of retaliation.”
“It’s long past time for meaningful legislation to protect Teamsters and other workers from the effects of prolonged heat exposure and dangerous heat levels while at work,” said Teamsters General President Sean M. O’Brien. “Paid breaks in cool spaces, access to water, and limitations on time exposed to heat are simple common sense steps that should be mandated immediately. Waiting to implement these measures is unacceptable and will result in the further loss of lives.”
“Workers in America are facing unprecedented dangers from climate-driven heat and extreme weather, and things are only getting worse. It is far past time for a strong national standard to protect workers from illness and death caused by exposure to extreme heat. The provisions mandated in this bill, including temperature triggers, acclimatization, water, shade and paid rest breaks, would save countless lives. They represent a common sense and common decency approach that employers could quickly adopt. American workers deserve no less, and they urgently need it. Today, OSHA is in the final stage of issuing a final rule on this issue. It is imperative that the rule maintain the integrity and high standards called for in the Asuncíon Valdivia Heat Illness, Injury, and Fatality Prevention Act. We applaud Senators Padilla, Markey, and Cortez Masto and Representatives Chu, Adams, and Scott, as well as the dozens of Senators and Congresspersons who have joined them in this long effort. It’s time to bring a high quality, protective standard to the finish line for American workers,” said Ernesto Archila, Climate and Financial Regulation Policy Director, Public Citizen.
“Every summer high temperature records get broken in states across the country, and while public health officials urge residents to stay inside and stay safe millions of workers have to report for work. From fields to warehouses, airports to schools, construction sites to manufacturing plants, and many more industries, too many workers are at risk of not getting home safely at the end of the day due to exposure to heat on the job. We know how to prevent these dangers. In fact, both outdoor and indoor workers in states like Oregon, California, and Maryland have strong, enforceable protections in place already. And in Washington, Colorado, and Minnesota at least some categories of workers are being kept safe from heat. But millions labor in other states where there are no protections; worker safety is left to the federal government in these states, and absent strong rules workers are left to protect themselves and hope for the best. We must extend workplace protections from heat to all workers. The National Employment Law Project thanks Senator Padilla and Representative Chu, as well as the dozens of Senators and Congresspersons who have cosponsored the Asunción Valdivia Heat Illness, Injury, and Fatality Prevention Act of 2025,” said Anastasia Christman, Senior Policy Analyst, National Employment Law Project.
The bill is cosponsored by Senators Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wis.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), John Fetterman (D-Pa.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Martin Heinrich (D-N.M.), Mazie Hirono (D-Hawaii), Mark Kelly (D-Ariz.), Ben Ray Luján (D-N.M.), Jeff Merkley (D-Ore.), Patty Murray (D-Wash.), Jack Reed (D-R.I.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Adam Schiff (D-Calif.), Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).
Senator Padilla has acted urgently to address the threats posed by extreme heat as the climate crisis becomes more severe. Padilla successfully called on OSHA to establish the first-ever federal safety standard to protect workers from the severe risks of excessive heat, implementing key provisions from the Asunción Valdivia Heat Illness, Injury, and Fatality Prevention Act. Padilla and his colleagues also led 112 members of Congress in calling on the Biden Administration to implement a workplace federal heat standard as quickly as possible. The letter urged OSHA to model the standard after the provisions in the Asunción Valdivia Heat Illness, Injury, and Fatality Prevention Act. Additionally, Padilla and Markey’s Preventing Health Emergencies and Temperature-related (HEAT) Illness and Deaths Act advanced out of the Senate Committee on Commerce, Science, and Transportation last year.
Padilla previously joined union members and workers from UFW and the Kern, Inyo, and Mono Counties Central Labor Council, AFL-CIO in Forty Acres, California in 2023 to announce his legislation to implement an enforceable federal workplace heat standard.
A one-pager on the Asunción Valdivia Heat Illness, Injury, and Fatality Prevention Act is available here.
A section-by-section of the bill is available here.
Acting Chairman Caroline D. Pham Lauds Actions to Clarify Whistleblower Protections for CFTC Staff | CFTC
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July 16, 2025
Washington, D.C. – CFTC Acting Chairman Caroline D. Pham today made the following comment regarding a CFTC Office of Inspector General review that clarified whistleblower protections for agency employees. “I’m pleased that the inspector general conducted a thorough review of the CFTC’s policies to ensure our employees are adequately informed of their whistleblower rights and protections. Whistleblowers are critical to promoting a well-functioning government, and I applaud the agency efforts to make these protections abundantly clear,” Acting Chairman Pham said.
JERSEY CITY, N.J., July 16, 2025 (GLOBE NEWSWIRE) — AvePoint (Nasdaq: AVPT), the global leader in data security, governance and resilience, today announced that it has completed the redemption of its publicly traded warrants (the “Warrants”) to purchase shares of AvePoint’s common stock, $0.0001 par value per share (“Common Stock”), that were issued under the Warrant Agreement, dated September 16, 2019, by and between AvePoint’s predecessor company, Apex Technology Acquisition Corporation (“Apex”), and Continental Stock Transfer & Trust Company, as warrant agent, (the “Warrant Agreement”) as part of the units sold in Apex’s initial public offering, that remained unexercised at 5:00 p.m., New York City time on July 11, 2025 (the “Redemption Date”) for a redemption price of $0.01 per Warrant (the “Redemption Price”).
On June 11, 2025, AvePoint filed a Form 8-K/A stating that, pursuant to the Warrant Agreement, it would redeem all Warrants that remained outstanding at 5:00 p.m., New York City time, on the Redemption Date at the Redemption Price. Of the 1,242,994 Warrants that were outstanding as of the date AvePoint announced the redemption of its public warrants on June 11, 2025, 1,053,498 were subsequently exercised. Total cash proceeds generated from the Warrant exercises were approximately $12.1 million. A total of 189,496 Warrants remained unexercised as of 5:00 p.m., New York City time, on the Redemption Date, and AvePoint redeemed those Warrants for an aggregate redemption price of approximately $1,895. Following the Redemption Date, AvePoint had no Warrants outstanding and 211,879,134 shares of Common Stock outstanding.
In connection with the redemption, the Warrants ceased trading on the Nasdaq Global Select Market (“Nasdaq”) and will be delisted, with the trading suspension effective as of July 11, 2025. The Common Stock continues to trade on Nasdaq under the symbol “AVPT.”
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of AvePoint, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.
About AvePoint
Beyond Secure. AvePoint is a global leader in data security, governance, and resilience, going beyond traditional solutions to ensure a robust data foundation and enable organizations everywhere to collaborate with confidence. Over 25,000 customers worldwide rely on the AvePoint Confidence Platform to prepare, secure, and optimize their critical data across Microsoft, Google, Salesforce, and other collaboration environments. AvePoint’s global channel partner program includes over 5,000 managed service providers, value-added resellers and systems integrators, with our solutions available in more than 100 cloud marketplaces. To learn more, visit www.avepoint.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Copies of these and other documents filed by AvePoint from time to time are available on the SEC’s website, www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations. Unless the context otherwise indicates, references in this press release to the terms “AvePoint”, “the Company”, “we”, “our” and “us” refer to AvePoint, Inc. and its subsidiaries.
Disclosure Information
AvePoint uses the https://www.avepoint.com/ir website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
DALLAS, July 16, 2025 (GLOBE NEWSWIRE) — Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) today announced it will report second quarter 2025 results on Wednesday, August 6, 2025, after the close of U.S. financial markets and will host a conference call and webcast Thursday, August 7, 2025, to discuss these results; details and links are provided below:
Earnings Call Information
Call Date:
Thursday, August 7, 2025
Call Time:
11:00 a.m. Eastern Time / 10:00 a.m. Central Time / 8:00 a.m. Pacific Time
Once registered, you will receive the dial-in numbers and a unique PIN number. You may then dial in or have a call back. When you dial in, you will input your PIN and be placed into the call. If you register and forget your PIN or lose your registration confirmation email, you may simply re-register and receive a new PIN.
Berry is a publicly traded (NASDAQ: BRY) western United States independent upstream energy company with a focus on onshore, low geologic risk, long-lived oil and gas reserves. We operate in two business segments: (i) exploration and production (“E&P”) and (ii) well servicing and abandonment services. Our E&P assets are located in California and Utah, are characterized by high oil content and are predominantly located in rural areas with low population. Our California assets are in the San Joaquin Basin (100% oil), and our Utah assets are in the Uinta Basin (65% oil). We provide our well servicing and abandonment services to third party operators in California and our California E&P operations through C&J Well Services (CJWS). More information can be found at the Company’s website at www.bry.com.
COMPANY CONTACT: Christopher Denison – Director of Investor Relations ir@bry.com (661) 616-3811
MINNEAPOLIS, July 16, 2025 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, today announced that it will issue its financial results for the second quarter ended June 30, 2025, after the market close on Wednesday, July 30, 2025. SPS Commerce will host a call to discuss the results at 3:30 p.m. Central Time (4:30 p.m. Eastern Time) on the same day.
To access the call, please dial 1-833-816-1382, or outside the U.S. 1-412-317-0475 at least 15 minutes prior to the 3:30 p.m. CT start time. Please ask to join the SPS Commerce conference call. A live webcast of the call will also be available at http://investors.spscommerce.com under the Events and Presentations menu. The replay will also be available on our website at http://investors.spscommerce.com.
About SPS Commerce
SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service, and accessible experts so our customers can focus on what they do best. Over 50,000 recurring revenue customers in retail, grocery, distribution, supply, manufacturing, and logistics are using SPS as their retail network. SPS has achieved 97 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit www.spscommerce.com.
SPS COMMERCE, SPS, SPS logo and INFINITE RETAIL POWER are marks of SPS Commerce, Inc. and registered in the U.S. Patent and Trademark Office, along with other SPS marks. Such marks may also be registered or otherwise protected in other countries.
Contact:
Investor Relations The Blueshirt Group Irmina Blaszczyk Lisa Laukkanen SPSC@blueshirtgroup.com 415-217-4962
NEW YORK, July 16, 2025 (GLOBE NEWSWIRE) — The Nasdaq Stock Market® (Nasdaq: NDAQ) announced that trading was halted on July 15, 2025 in Bowen Acquisition Corp. at 17:45:19 Eastern Time for additional information requested from the company. The last sale price of the company’s securities was:
Ordinary shares (Nasdaq: BOWN) $9.19
Rights (Nasdaq: BOWNR) $0.2252
Units (Nasdaq: BOWNU) $13.02
Trading will remain halted until Bowen Acquisition Corp. has fully satisfied Nasdaq’s request for additional information.
For news and additional information about the company, please contact the company directly or check under the company’s symbol using InfoQuotesSM on the Nasdaq® Web site.
For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com.
NEW YORK, July 16, 2025 (GLOBE NEWSWIRE) — Portman Ridge Finance Corporation (Nasdaq: PTMN) (“Portman Ridge” or the “Company”) is to release its financial results for the second quarter ended June 30, 2025, on Thursday, August 7, 2025, after market close. The Company will host a conference call on Friday, August 8, 2025, at 10:00 a.m. ET to discuss these results.
By Phone: To access the call, please dial (646) 307-1963 approximately 10 minutes prior to the start of the conference call and use the conference ID 1430967.
A replay of this conference call will be available shortly after the live call through August 15, 2025.
By Webcast: A live audio webcast of the conference call can be accessed via the Internet, on a listen-only basis at https://edge.media-server.com/mmc/p/aty7k6qp. The online archive of the webcast will be available on the Company’s website shortly after the call at www.portmanridge.com in the Investor Relations section under Events and Presentations.
About Portman Ridge Finance Corporation
PTMN is a publicly traded, externally managed closed-end investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. PTMN’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. PTMN’s investment activities are managed by its investment adviser, Sierra Crest Investment Management LLC, an affiliate of BC Partners Advisors L.P.
PTMN’s filings with the Securities and Exchange Commission (“SEC”), earnings releases, press releases and other financial, operational and governance information are available on Portman Ridge’s website at www.portmanridge.com.
Contacts: Portman Ridge Finance Corporation 650 Madison Avenue, 3rd floor New York, NY 10022 info@portmanridge.com
DALLAS , July 16, 2025 (GLOBE NEWSWIRE) — Triumph Financial, Inc. (Nasdaq: TFIN) has released its second quarter 2025 financial results. The 2Q 2025 financial results and shareholder letter are available on the Company’s website at ir.triumph.io through the News & Events, Events & Presentations links.
Aaron P. Graft, Vice Chairman & CEO, and Brad Voss, CFO, will review the financial results in a conference call with investors and analysts beginning at 9:30 a.m. central time on Thursday, July 17, 2025.
The live video conference option may be accessed directly through this link, https://triumph-financial-q2-2025-earnings.open-exchange.net/ or via the Company’s IR website at ir.triumph.io through the News & Events, Events & Presentations links. An archive of this conference call will subsequently be available at the same location, referenced above, on the Company’s website.
About Triumph
Triumph (Nasdaq: TFIN) is a financial and technology company focused on payments, factoring, intelligence and banking to modernize and simplify freight transactions. Headquartered in Dallas, Texas, its portfolio of brands includes Triumph, TBK Bank and LoadPay.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Triumph Financial’s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and the forward-looking statement disclosure contained in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 11, 2025. Forward-looking statements speak only as of the date made and Triumph Financial undertakes no duty to update the information.
Source: Triumph Financial, Inc.
Investor Relations: Luke Wyse Executive Vice President, Head of Investor Relations lwyse@tfin.com 214-365-6936
Media Contact: Amanda Tavackoli Senior Vice President, Director of Corporate Communication atavackoli@tfin.com 214-365-6930
LUBBOCK, Texas, July 16, 2025 (GLOBE NEWSWIRE) — South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (“City Bank” or the “Bank”), today reported its financial results for the quarter ended June 30, 2025.
Second Quarter 2025 Highlights
Net income for the second quarter of 2025 was $14.6 million, compared to $12.3 million for the first quarter of 2025 and $11.1 million for the second quarter of 2024.
Diluted earnings per share for the second quarter of 2025 was $0.86, compared to $0.72 for the first quarter of 2025 and $0.66 for the second quarter of 2024.
Average cost of deposits for the second quarter of 2025 was 214 basis points, compared to 219 basis points for the first quarter of 2025 and 243 basis points for the second quarter of 2024.
Net interest margin, on a tax-equivalent basis, was 4.07% for the second quarter of 2025, compared to 3.81% for the first quarter of 2025 and 3.63% for the second quarter of 2024.
Return on average assets for the second quarter of 2025 was 1.34%, compared to 1.16% for the first quarter of 2025 and 1.07% for the second quarter of 2024.
Tangible book value (non-GAAP) per share was $26.70 as of June 30, 2025, compared to $26.05 as of March 31, 2025 and $24.15 as of June 30, 2024.
The consolidated total risk-based capital ratio, common equity tier 1 risk-based capital ratio, and tier 1 leverage ratio at June 30, 2025 were 18.17%, 13.86%, and 12.12%, respectively.
Curtis Griffith, South Plains’ Chairman and Chief Executive Officer, commented, “We delivered solid second quarter results highlighted by steady margin expansion, continued loan growth despite high levels of loan payoffs, which were expected, and healthy capital levels that continued to build through the quarter. Additionally, we believe the credit quality of our loan portfolio remained solid through the quarter. We believe that we are in a strong position to take advantage of opportunities as they present themselves and are pursuing a strategy to increase the assets of the Bank primarily focused on expanding our lending capabilities. Our community-based deposit franchise continues to provide a stable, lower-cost funding source for loan growth across our markets and our team has done a terrific job growing our loan portfolio over the last five years. We believe that we have opportunities to accelerate that growth by further expanding our lending platform and adding experienced commercial lenders who share our culture and values, and who can bring high quality customer relationships to the Bank. We recruited several experienced lenders in the Dallas market during the second quarter and will continue to add talent in the quarters to come as we expand our reach and continue to work to take market share.”
Results of Operations, Quarter Ended June 30, 2025
Net Interest Income
Net interest income was $42.5 million for the second quarter of 2025, compared to $38.5 million for the first quarter of 2025 and $35.9 million for the second quarter of 2024. Net interest margin, calculated on a tax-equivalent basis, was 4.07% for the second quarter of 2025, compared to 3.81% for the first quarter of 2025 and 3.63% for the second quarter of 2024. The average yield on loans was 6.99% for the second quarter of 2025, compared to 6.67% for the first quarter of 2025 and 6.60% for the second quarter of 2024. The average cost of deposits was 214 basis points for the second quarter of 2025, which is 5 basis points lower than the first quarter of 2025 and 29 basis points lower than the second quarter of 2024. There was a recovery of $1.7 million in interest during the second quarter of 2025, related to a full repayment of a loan that had previously been on nonaccrual. This recovery positively impacted the net interest margin by 17 basis points and the loan yield by 23 basis points during the second quarter of 2025.
Interest income was $64.1 million for the second quarter of 2025, compared to $59.9 million for the first quarter of 2025 and $59.2 million for the second quarter of 2024. Interest income increased $4.2 million in the second quarter of 2025 from the first quarter of 2025, which was primarily comprised of an increase of $3.3 million in loan interest income and an increase of $888 thousand in interest income on other earning assets. The increase in loan interest income was due primarily to the $1.7 million recovery of interest and growth of $20.0 million in average loans outstanding during the second quarter of 2025. The increase in interest income on other earning assets was mainly due to an increase of $69.8 million in average other interest-earning assets during the second quarter of 2025. Interest income increased $4.9 million in the second quarter of 2025 compared to the second quarter of 2024. This increase was primarily due to the $1.7 million recovery of interest and an increase of average loans of $12.0 million and higher loan interest rates during the period, resulting in growth of $3.3 million in loan interest income.
Interest expense was $21.6 million for the second quarter of 2025, compared to $21.4 million for the first quarter of 2025 and $23.3 million for the second quarter of 2024. Interest expense increased $237 thousand compared to the first quarter of 2025 and decreased $1.7 million compared to the second quarter of 2024. The $237 thousand increase was primarily as a result of a $21.2 million increase in average interest-bearing deposits during the second quarter of 2025 as compared to the first quarter of 2025. The $1.7 million decrease was primarily as a result of a 42 basis point decline in the cost of interest-bearing deposits, partially offset by an increase of $151.3 million in average interest-bearing deposits in the second quarter of 2025 as compared to the second quarter of 2024.
Noninterest Income and Noninterest Expense
Noninterest income was $12.2 million for the second quarter of 2025, compared to $10.6 million for the first quarter of 2025 and $12.7 million for the second quarter of 2024. The increase from the first quarter of 2025 was primarily due to an increase of $1.5 million in mortgage banking revenues, mainly as a result of an increase of $1.4 million in the fair value adjustment of the mortgage servicing rights assets as interest rates that affect the value stabilized in the second quarter of 2025 after declining in the first quarter of 2025. The decrease in noninterest income for the second quarter of 2025 as compared to the second quarter of 2024 was primarily due to a decrease of $523 thousand in income from investments in Small Business Investment Companies.
Noninterest expense was $33.5 million for the second quarter of 2025, compared to $33.0 million for the first quarter of 2025 and $32.6 million for the second quarter of 2024. The $513 thousand increase from the first quarter of 2025 was largely the result of an increase of $267 thousand in personnel expenses and $144 thousand in increased professional service expenses. The $971 thousand increase in noninterest expense for the second quarter of 2025 as compared to the second quarter of 2024 was largely the result of an increase of $509 thousand in personnel expenses, mainly a result of annual salary adjustments.
Loan Portfolio and Composition
Loans held for investment were $3.10 billion as of June 30, 2025, compared to $3.08 billion as of March 31, 2025 and $3.09 billion as of June 30, 2024. The increase of $23.1 million, or 3.0% annualized, during the second quarter of 2025 as compared to the first quarter of 2025 occurred primarily as a result of organic loan growth experienced broadly across the portfolio, partially offset by a decrease of $52.6 million in multi-family property loans mainly due to the payoff of three loans totaling $49.1 million. As of June 30, 2025, loans held for investment increased $4.7 million, or 0.2%, from June 30, 2024.
Deposits and Borrowings
Deposits totaled $3.74 billion as of June 30, 2025, compared to $3.79 billion as of March 31, 2025 and $3.62 billion as of June 30, 2024. Deposits decreased by $53.6 million, or 1.4%, in the second quarter of 2025 from March 31, 2025. Deposits increased by $114.4 million, or 3.2%, at June 30, 2025 as compared to June 30, 2024. Noninterest-bearing deposits were $998.8 million as of June 30, 2025, compared to $966.5 million as of March 31, 2025 and $951.6 million as of June 30, 2024. Noninterest-bearing deposits represented 26.7% of total deposits as of June 30, 2025. The quarterly change in total deposits was mainly due to a seasonal decrease of $73.7 million in public fund deposits, partially offset by organic growth in retail and commercial deposits. The year-over-year increase in total deposits was primarily the result of continued organic growth in retail and commercial deposits.
Asset Quality
The Company recorded a provision for credit losses in the second quarter of 2025 of $2.5 million, compared to $420 thousand in the first quarter of 2025 and $1.8 million in the second quarter of 2024. The provision during the second quarter of 2025 was largely attributable to an increase in specific reserves, net charge-off activity, increased loan balances, and several credit quality downgrades.
The ratio of allowance for credit losses to loans held for investment was 1.45% as of June 30, 2025, compared to 1.40% as of March 31, 2025 and 1.40% as of June 30, 2024.
The ratio of nonperforming assets to total assets was 0.25% as of June 30, 2025, compared to 0.16% as of March 31, 2025 and 0.57% as of June 30, 2024. Annualized net charge-offs were 0.06% for the second quarter of 2025, compared to 0.07% for the first quarter of 2025 and 0.10% for the second quarter of 2024.
Capital
Book value per share increased to $27.98 at June 30, 2025, compared to $27.33 at March 31, 2025. The change was primarily driven by $12.2 million of net income after dividends paid, partially offset by a decrease in accumulated other comprehensive income of $2.3 million. The ratio of tangible common equity to tangible assets (non-GAAP) increased 34 basis points to 9.98% during the second quarter of 2025.
Conference Call
South Plains will host a conference call to discuss its second quarter 2025 financial results today, July 16, 2025, at 5:00 p.m., Eastern Time. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call and conference materials will be available on the Company’s website at https://www.spfi.bank/news-events/events.
A replay of the conference call will be available within two hours of the conclusion of the call and can be accessed on the investor section of the Company’s website as well as by dialing 1-844-512-2921 (international callers please dial 1-412-317-6671). The pin to access the telephone replay is 13754259. The replay will be available until July 30, 2025.
About South Plains Financial, Inc.
South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. South Plains provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with investment, trust and mortgage services. Please visit https://www.spfi.bank for more information.
Non-GAAP Financial Measures
Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with generally accepted accounting principles in the United States (“GAAP”). These non-GAAP financial measures include Tangible Book Value Per Share, Tangible Common Equity to Tangible Assets, and Pre-Tax, Pre-Provision Income. The Company believes these non-GAAP financial measures provide both management and investors a more complete understanding of the Company’s financial position and performance. These non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP financial measures.
We classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the United States in our statements of income, balance sheets or statements of cash flows. Not all companies use the same calculation of these measures; therefore, this presentation may not be comparable to other similarly titled measures as presented by other companies.
A reconciliation of non-GAAP financial measures to GAAP financial measures is provided at the end of this press release.
Available Information
The Company routinely posts important information for investors on its web site (under www.spfi.bank and, more specifically, under the News & Events tab at www.spfi.bank/news-events/press-releases). The Company intends to use its web site as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD (Fair Disclosure) promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, investors should monitor the Company’s web site, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations and webcasts.
The information contained on, or that may be accessed through, the Company’s web site is not incorporated by reference into, and is not a part of, this document.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect South Plains’ current views with respect to future events and South Plains’ financial performance. Any statements about South Plains’ expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. South Plains cautions that the forward-looking statements in this press release are based largely on South Plains’ expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond South Plains’ control. Factors that could cause such changes include, but are not limited to, the impact on us and our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from uncertainty in the banking industry as a whole; increased competition for deposits in our market areas and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to a continuation of the elevated interest rate environment or further reductions in interest rates and a resulting decline in net interest income; the lingering inflationary pressures, and the risk of the resurgence of elevated levels of inflation, in the United States and our market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; changes in unemployment rates in the United States and our market areas; adverse changes in customer spending and savings habits; declines in commercial real estate values and prices; a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainty regarding United States fiscal debt, deficit and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events, including as a result of the policies of the current U.S. presidential administration or Congress; the impacts of tariffs, sanctions and other trade policies of the United States and its global trading counterparts and the resulting impact on the Company and its customers; competition and market expansion opportunities; changes in non-interest expenditures or in the anticipated benefits of such expenditures; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential costs related to the impacts of climate change; current or future litigation, regulatory examinations or other legal and/or regulatory actions; and changes in applicable laws and regulations. Additional information regarding these risks and uncertainties to which South Plains’ business and future financial performance are subject is contained in South Plains’ most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q on file with the SEC, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of such documents, and other documents South Plains files or furnishes with the SEC from time to time, which are available on the SEC’s website, www.sec.gov. Actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements due to additional risks and uncertainties of which South Plains is not currently aware or which it does not currently view as, but in the future may become, material to its business or operating results. Due to these and other possible uncertainties and risks, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized and readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Any forward-looking statements presented herein are made only as of the date of this press release, and South Plains does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, new information, the occurrence of unanticipated events, or otherwise, except as required by applicable law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.
(1) Average loan balances include nonaccrual loans and loans held for sale.
(2) Net interest margin is calculated as the annualized net interest income, on a fully tax-equivalent basis, divided by average interest-earning assets.
South Plains Financial, Inc. Average Balances and Yields – (Unaudited) (Dollars in thousands)
(1) Average loan balances include nonaccrual loans and loans held for sale.
(2) Net interest margin is calculated as the annualized net interest income, on a fully tax-equivalent basis, divided by average interest-earning assets.
South Plains Financial, Inc. Consolidated Balance Sheets (Unaudited) (Dollars in thousands)
NEW YORK, July 16, 2025 (GLOBE NEWSWIRE) — Royalty Pharma plc (Nasdaq: RPRX) today announced that it will report its second quarter 2025 financial results on Wednesday, August 6, 2025 before the U.S. financial markets open. The company will host a conference call and simultaneous webcast at 8:00 a.m. Eastern Time that day.
Conference Call Information
Please visit the “Investors” page of the company’s website at https://www.royaltypharma.com/investors/events/ to obtain conference call information and to view the live webcast. A replay of the conference call and webcast will be archived on the company’s website for at least 30 days.
About Royalty Pharma
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Novartis’ Promacta, Pfizer’s Nurtec ODT and Gilead’s Trodelvy, and 16 development-stage product candidates. For more information, visit www.royaltypharma.com.
Royalty Pharma Investor Relations and Communications
St. Louis, July 16, 2025 (GLOBE NEWSWIRE) — ESCO Technologies Inc. (NYSE:ESE) will report its third quarter financial results after the market close on Thursday, August 7, 2025, followed by a conference call where the financial results and related commentary will be discussed.
Event: Third Quarter 2025 Conference Call Date: Thursday, August 7 Time: 4:00 p.m. Central Time
The conference call webcast and an accompanying slide presentation will be available in the Investor Center of ESCO’s website. The slide presentation will be utilized during the call and will be posted on the website prior to the call. Participants may also access the webcast using this registration link.
For those unable to participate, a webcast replay will be available after the call in the Investor Center of ESCO’s website.
ESCO Technologies is a global provider of highly engineered products and solutions serving diverse end-markets. It manufactures filtration and fluid control products, advanced composites, as well as signature and power management solutions for aviation, Navy, space, and industrial customers. ESCO is an industry leader in designing and manufacturing RF test and measurement products and systems; and provides diagnostic instruments, software and services to industrial power users and the electric utility and renewable energy industries. Headquartered in St. Louis, Missouri, ESCO and its subsidiaries have offices and manufacturing facilities worldwide. For more information on ESCO and its subsidiaries, visit ESCO’s website at www.escotechnologies.com
SOURCE ESCO Technologies Inc. Kate Lowrey, Vice President of Investor Relations, (314) 213-7277
Legislation Would Help Businesses Bring On Mid-Career Workers Seeking To Return To Or Transition Into STEM Jobs
WASHINGTON, DC – Today, U.S. Senators Jacky Rosen (D-NV), Cindy Hyde-Smith (R-MS), and Mark Kelly (D-AZ) introduced the STEM Restoring Employment Skills through Targeted Assistance, Re-entry, and Training (RESTART) Act. This bipartisan legislation would provide funding to support mid-career internships, known as “returnships,” for workers seeking to return to or transition into the STEM workforce. Representatives Chrissy Houlahan (D-PA) and Jim Baird (R-IN) have also introduced identical bipartisan legislation in the U.S. House of Representatives.
“When we invest in STEM education and workforce development, we can open the door to successful careers in some of the most in-demand industries,” said Senator Rosen. “I’m glad to introduce this bipartisan bill to help give workers the training and tools they need to enter new STEM careers. I’ll keep working across party lines to make sure all Nevadans have the skills needed to fill good-paying jobs.”
“Many skilled professionals step away from the workforce, but face significant barriers when trying to return, especially in technical fields where innovation moves fast,” said Senator Hyde-Smith. “Our legislation equips small and mid-sized businesses with the tools to tap into this valuable talent pool. This will help hardworking Americans reconnect with meaningful careers while growing the STEM workforce in states like Mississippi and beyond.”
“Arizona’s 21st century economy depends on a strong STEM workforce, and that means making sure talented workers who’ve taken time away or are looking to transition into STEM fields have a real pathway back in,” said Senator Kelly. “This effort will help small businesses tap into an underutilized talent pool while giving Arizonans the support they need to reenter the workforce and succeed in high-paying careers.”
“As a former Air Force engineer and chemistry teacher, I know that building a strong STEM workforce is essential not only for creating good-paying jobs, but also for safeguarding our national security,” said Representative Houlahan. “Whether it’s biotechnology, quantum computing, or clean energy, the global race for innovation is accelerating, and we can’t afford to leave talent on the sidelines. The bipartisan STEM RESTART Act will help mid-career professionals and those returning to the workforce enter high-demand STEM fields so we can strengthen our economy, compete globally, and protect America’s leadership in emerging technologies. I’m proud to reintroduce this commonsense legislation, which is a win for both businesses and workers across our Commonwealth and country.”
“If we want to maintain our global competitive edge and continue to lead the world in innovation, we must ensure we have a well-equipped STEM workforce now and empower future generations in STEM fields,” said Congressman Baird. “A robust STEM workforce is also vital to our economic prosperity and national security, especially when up against the threat of Communist China. I thank my colleagues in the House and Senate for their work on this bipartisan legislation to equip Hoosiers who want to return to the STEM workforce with the tools they need to fill job openings and build the greatest economy in history.”
“The STEM RESTART Act is a forward-thinking investment in our nation’s workforce,” said Chris Heavey, Interim President of the University of Nevada, Las Vegas. “By supporting mid-career professionals reentering the STEM fields, this bill strengthens innovation, expands opportunity, and ensures that talent and experience are not left behind.”
“The Society of Women Engineers is thrilled to see the STEM RESTART Act reintroduced in 2025. As the nation continues to rebuild a strong and inclusive STEM workforce, this legislation is more critical than ever. Hundreds of thousands of STEM professionals have stepped away from technical careers in recent years, and research shows most want to return—but face steep barriers. Grants for structured ‘returnships’ give mid-career professionals real, paid pathways back into meaningful STEM roles,” said Karen Horting, Executive Director & CEO of the Society of Women Engineers. “SWE and our 50,000 plus members fully support this bipartisan, bicameral effort to bridge talent gaps, bolster small and midsize businesses, and drive innovation. We urge lawmakers to pass the STEM RESTART Act as soon as possible and reaffirm our collective commitment to supporting women and others who pause their careers, as well as the country’s economic growth and global competitiveness.”
The STEM RESTART Act has been endorsed by the Society of Women Engineers, STEM Education Coalition, AnitaB.org, Nevada System of Higher Education, College of Southern Nevada, Vegas Chamber, Henderson Chamber of Commerce, Nevada State University, and University of Nevada, Las Vegas.
Senator Rosen has been a leader in advocating for tech innovation and improving access to STEM careers. She helped pass the bipartisan CHIPS and Science Act, which invests $52 billion in domestic computer chip manufacturing to help address the current shortage. Additionally, Rosen helped write the broadband section of the Bipartisan Infrastructure Law, which is delivering $65 billion to make high-speed internet more available and affordable to Americans. In 2020, Senator Rosen’s bipartisan Building Blocks of STEM Act, which breaks down barriers to allow more young girls to study computer science, was signed into law.
Remarks by Brad Callaghan, Associate Deputy Commissioner of the Policy, Planning and Advocacy Directorate; and Jonathan Fonberg, Senior Behavioural Scientist, Behavioural Insights Unit
Good afternoon, Mr. Chair, Commissioners and Commission staff. Thank you for the opportunity to appear here today on unceded Algonquin Anishinabeg land just north of the Kichi Zibi.
My name is Brad Callaghan, and I am the Associate Deputy Commissioner of the Policy, Planning and Advocacy Directorate at the Competition Bureau of Canada.
Let me begin by introducing the members of our panel. To my right is:
Ben Klass: Competition Law Officer, Policy, Planning and Advocacy Directorate; and
Derek Leschinsky: Senior Counsel, Competition Bureau Legal Services.
To my left is:
Jonathan Fonberg, Senior Behavioural Scientist, Behavioural Insights Unit; and
Émilie-Ève Gravel, head of the Competition Bureau’s Behavioural Insights Unit.
The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. We are an evidence-based agency we’re not influenced by commercial interests, but by the public interest just like the CRTC.
We hope that our participation in this consultation will help to deliver outcomes that serve the public interest by creating the conditions for competition.
Telecommunications services like home internet and mobile connectivity have become an essential part of modern life. Since the pandemic, Canadians across the country have come to rely on their connections more than ever before to stay in touch with family and community, to learn, work, play, and to do business.
Policies promoting marketplace competition are helping get us to a place where most people have access to a range of innovative services that meet their needs at affordable prices.
At the same time, your consumer codes for wireless, internet, and television services have helped empower consumers to make choices between services and providers on their own terms.
Despite these positive steps, there are signs telling us there’s still work to be done and competition is key to achieving your policy objectives.
So, as technology, markets, and patterns of communication evolve, we see this consultation as an opportunity to build on past successes and keep the momentum going.
In oursubmission, we’ve shared several recommendationsthat we hope will help improve competitive dynamics and consumer choice in Canada’s telecom markets.
Our recommendations are grounded in the general principle that good information and freedom from barriers to switching are key ingredients in the recipe for competition. When either or both of these components are lacking, it makes room for the exercise of market power, which can be harmful for consumers and the economy more broadly.
To develop our input, we conducted desk research, consulted with stakeholders including other domestic and international regulators and engaged our behavioural insights experts, who are here with us today, to sharpen the focus on providing evidence-based best practices for empowering consumers.
So, with that in mind, I’ll now briefly outline our recommendations and some of the key ideas why we think adopting them will help.
First, we support the adoption of a ‘nutrition label’ format for providing customers with information.
Four out of five participants in the CRTC’s public opinion research felt that ‘standardized information in a recognizable format, like the nutrition label but for home Internet services’ would be beneficial.
We agree the label is a good idea and Canadians are already familiar with it: their experience in the food products sector shows that labels are an effective, adaptable tool for conveying complex yet crucial information about goods and services.
From a competition perspective, enabling people to more easily compare services and providers gives them the power to make choices based on their own specific needs and circumstances. When consumers have good information that they can act on to switch, providers will work harder to make sure people’s needs are being met.
The US Federal Communications Commission (FCC) has already put in the legwork to adapt the nutrition label for the fixed and mobile broadband services. We believe that the record of their extensive rulemaking process represents a helpful resource to consult as the CRTC develops its own ‘made for Canada’ version of the label.
So what does a ‘made for Canada’ label look like?
For the most part, we think it should look a lot like the FCC’s label information about price, performance, and other important service characteristics is presented in a format that’s already familiar for Canadian consumers from their experience in the grocery aisle with just a few key differences.
In our view, the monthly price on a ‘made for Canada’ label should show an ‘all-in’ price that includes all fixed and obligatory charges or fees as opposed to the approach favoured by the FCC where a baseline monthly price is followed by additional monthly fees. The reason is that Canada’s Competition Act prohibits ‘drip pricing’. Keeping the label consistent with the drip pricing provisions means making sure that the carriers can not be permitted to display a price that is unattainable because of additional fixed and obligatory charges or fees that drive up the price consumers ultimately pay for their services.
Adopting an ‘all-in’ approach to pricing would help the label to work in harmony with the Competition Act’s provisions on drip pricing.
Similarly, all relevant ads and information contained in policies and disclaimers must be consistent with information in the label. To the extent that the label refers or links to disclaimers, they cannot be used or relied upon to restrict, contradict, or negate any marketing messages, or otherwise cure misleading or deceptive marketing practices.
Overall, this approach would help keep information simple, relevant, and it would facilitate apples-to-apples comparisons.
Second, we think the label would benefit wireless phone customers and competition in that market, too.
Like home internet services, wireless phones are essential for nearly all Canadians. CCTS and CRTC data show that Canadians have similar issues with both services, too.
Every Canadian wireless network operator also offers home Internet – meaning that they will already be developing labels as a result of this proceeding.
From our perspective, extending the labels’ application to wireless phone services could deliver significant benefits for minimal additional cost. Doing so would help to simplify and harmonize the consumer information environment in general while avoiding the need to duplicate efforts down the road.
Third, we think the labels would be especially beneficial for customers who are actively shopping, and for subscribers whose contracts are about to expire.
Dr. Fonberg will explain how we can think about making sure the labels are as useful for consumers as possible.
[Jonathan Fonberg, Senior Behavioural Scientist]
Thank you.
Consumers are less likely to engage with information if the effort required to identify and understand that information is high.
That means difficulties in accessing critical information about broadband plans and alternatives can create barriers to switching.
Our recommendations draw on key principles and best practises from behavioural science.
They aim to empower consumers by reducing the effort required to identify and understand critical information; thereby reducing barriers to switching.
To that end, these recommendations address both the format and availability of the label.
First, the label design should allow consumers to quickly grasp key information. It should be easily accessible and comprehensible.
This is intended to reduce the effort required by customers to interpret complex plan information.
But beyond what’s in the label, when and where it’s found is also important.
We recommend that it be widely available anywhere specific plan information is displayed. We are also asking that the label be included in notices sent to customers whose contracts are set to expire.
This will reduce the need for customers to search for key details buried in the fine print, making the process more convenient and increasing their chances of engaging with it.
These recommendations are intended to ensure that customers will be able to easily access the label when they need it the most, maximizing its benefit.
[Brad Callaghan, Associate Deputy Commissioner]
Thank you, Dr. Fonberg.
The CRTC has taken important steps in recent years to empower consumers in their relationships with their service providers. Ensuring that phone numbers are portable, placing limits on contract length, and unlocking devices are just some of the actions the CRTC has taken to foster competition in the marketplace for the benefit of consumers and the economy.
The Competition Bureau is pleased that the CRTC continues to build on these achievements. A broadband nutrition label can put consumers in the driver’s seat of the switching process and improve competition in telecommunication markets. With clear, standardized information to compare their options, consumers can take advantage of competition more easily, and companies will compete harder to keep them.
We’d like to thank the Commission for the opportunity to participate in these proceedings. We will endeavour to answer any questions you may have.
In early June, the Labor opposition moved a motion of no confidence in the Liberal Premier, Jeremy Rockliff. The motion passed with the support of three crossbench MPs, the Greens, and a casting vote from the speaker.
Rockliff refused to step aside and Opposition Leader Dean Winter ruled out doing a deal with the Greens to govern in minority, which left the Governor with no choice but to call an election just 16 months after the last.
Some Tasmanians would be forgiven for feeling a bit of election fatigue. On top of the March 2024 state election, there was the federal election on May 3, voting for three legislative council seats on May 24 and now this poll.
Trudging along the campaign trail
The vibe of the campaign has veered wildly between pedestrian and acrimonious.
Candidates have struggled to connect with a disgruntled public, and a combination of the stadium saga and political mudslinging have distracted from Tasmania’s serious challenges.
Despite the election being brought about by Labor’s no confidence motion, the party seemed curiously unprepared. Its candidate announcements were slow and disjointed, and red corflutes have been greatly outnumbered by blue.
Labor’s campaign has picked up some momentum in recent weeks by following the federal party’s playbook of making big health policy announcements.
In contrast to Labor, the Liberals hit the ground running with a slew of candidate announcements. They have presented themselves as the only party with a realistic chance of winning a majority, and sought to frame Labor’s Dean Winter as a power-hungry wrecker. They have also campaigned hard on health, attempting to neutralise Labor’s traditional strength in this area.
A bevy of former federal candidates are running, which could lead to changes in personnel, if not a big shift in the distribution of seats in parliament. Ones to watch include:
Liberal’s Bridget Archer (who lost her seat of Bass in May) and Gavin Pearce (retired Braddon MP)
Labor’s Brian Mitchell, the Lyons MP who stood aside for Rebecca White
Peter George, the anti-salmon farming independent in Franklin
and Vanessa Bleyer, a two-time Greens Senate candidate running in Braddon.
The Nationals are also in the mix following the latest in a series of Tasmanian “reboots” over the past few decades. Their candidate list includes former Jacqui Lambie Network and Liberal MPs, which could create a tense and chaotic party room if they win seats.
Disappointingly, both Labor and Liberal leaders have repeatedly demanded the other side stop playing “political games”, while merrily engaging in skulduggery of their own.
Labor was indignant when the Liberals challenged the eligibility of one of their star candidates, unionist Jessica Munday.
A few days later, Rockliff was righteously outraged when Labor grandee and former premier Paul Lennon registered the business “Tasinsure” – the name of the Liberals’ proposed state-owned insurance company.
Subpar signage
It’s fair to say no one has covered themselves in glory here.
The Liberals went with “Let’s finish the job for Tasmania”. I’m sure this isn’t meant to be read as a threat, but I can’t help but hear it in Alan Rickman’s voice.
Even if we leave aside the (unintended?) menacing implications, the slogan encourages voters to wonder why the job hasn’t been finished in the previous 11 years of Liberal government.
Labor is using “A Fresh Start for Tasmania”: a cliche, but serviceably simple.
The problem is, they stretched the slogan to the point of collapse by applying it to all of their policy headings. This meant that we ended up enduring “a fresh start for cost of living relief”, “a fresh start for our society”, and so on.
A special mention to Labor’s social media ads, which had all the gravitas of a toddler demanding their turn on the playground swings.
The Greens didn’t limit themselves to one slogan. Instead, they used various taglines on the theme of “the mess made by the major parties”, or simply stated their main policy pillars: stopping the stadium, investing in health and housing, protecting the environment, and stopping privatisation.
There were also some questionable offerings from the menagerie of independents. Surely the voters are entitled to expect more from their MPs than the “familiar face in Clark” offered by former Liberal MP Elise Archer? And as an experienced journalist, I’m sure Peter George could have done better than the derivative “Time for Change”.
What can we expect?
What will Tasmanians end up with after a campaign that has been less sound and fury and more white noise and niggle?
It looks like more of the same.
Polling shows that the two major parties are on the nose, particularly with younger voters. Labor and Liberal are fairly aligned on some of the headline issues that divide the electorate, including the stadium and salmon farming.
All this points to no party winning a majority of the 35 seats. If this happens, the convention is that the Governor gives the party with the most seats the first crack at cobbling together enough support from the crossbench to form a minority government.
Minority governments can come in lots of different shapes and sizes, from loose “confidence and supply” agreements to more formal power-sharing coalitions.
If the party with the most seats fails to form government, the Governor would typically let the second-largest party try.
Both the Liberals and Labor will face big challenges if they are given the opportunity to form minority government.
The Liberal Party has its nose ahead in most polls. However, several of the crossbench MPs the previous Liberal government relied on for support voted in favour of the no confidence motion in Rockliff.
Most of these MPs are likely to be re-elected, and will be wary of doing deals that essentially put in place the same government that they recently helped to bring down.
Labor have backed themselves into a corner by repeatedly ruling out working with the Greens. This would leave them needing to negotiate with a diverse array of crossbench MPs. Depending on the final distribution of seats, this might not secure them enough votes on the floor of parliament.
If – as seems likely – Tasmania ends up with another hung parliament, it will fall to our MPs to move beyond point scoring and gamesmanship. We urgently need budget repair, alongside ambitious reforms in health, housing, education, sustainability and productivity.
Here’s hoping that the next government is willing to collaborate and compromise – for the good of the state and to restore trust in our political system.
Robert Hortle does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
In early June, the Labor opposition moved a motion of no confidence in the Liberal Premier, Jeremy Rockliff. The motion passed with the support of three crossbench MPs, the Greens, and a casting vote from the speaker.
Rockliff refused to step aside and Opposition Leader Dean Winter ruled out doing a deal with the Greens to govern in minority, which left the Governor with no choice but to call an election just 16 months after the last.
Some Tasmanians would be forgiven for feeling a bit of election fatigue. On top of the March 2024 state election, there was the federal election on May 3, voting for three legislative council seats on May 24 and now this poll.
Trudging along the campaign trail
The vibe of the campaign has veered wildly between pedestrian and acrimonious.
Candidates have struggled to connect with a disgruntled public, and a combination of the stadium saga and political mudslinging have distracted from Tasmania’s serious challenges.
Despite the election being brought about by Labor’s no confidence motion, the party seemed curiously unprepared. Its candidate announcements were slow and disjointed, and red corflutes have been greatly outnumbered by blue.
Labor’s campaign has picked up some momentum in recent weeks by following the federal party’s playbook of making big health policy announcements.
In contrast to Labor, the Liberals hit the ground running with a slew of candidate announcements. They have presented themselves as the only party with a realistic chance of winning a majority, and sought to frame Labor’s Dean Winter as a power-hungry wrecker. They have also campaigned hard on health, attempting to neutralise Labor’s traditional strength in this area.
A bevy of former federal candidates are running, which could lead to changes in personnel, if not a big shift in the distribution of seats in parliament. Ones to watch include:
Liberal’s Bridget Archer (who lost her seat of Bass in May) and Gavin Pearce (retired Braddon MP)
Labor’s Brian Mitchell, the Lyons MP who stood aside for Rebecca White
Peter George, the anti-salmon farming independent in Franklin
and Vanessa Bleyer, a two-time Greens Senate candidate running in Braddon.
The Nationals are also in the mix following the latest in a series of Tasmanian “reboots” over the past few decades. Their candidate list includes former Jacqui Lambie Network and Liberal MPs, which could create a tense and chaotic party room if they win seats.
Disappointingly, both Labor and Liberal leaders have repeatedly demanded the other side stop playing “political games”, while merrily engaging in skulduggery of their own.
Labor was indignant when the Liberals challenged the eligibility of one of their star candidates, unionist Jessica Munday.
A few days later, Rockliff was righteously outraged when Labor grandee and former premier Paul Lennon registered the business “Tasinsure” – the name of the Liberals’ proposed state-owned insurance company.
Subpar signage
It’s fair to say no one has covered themselves in glory here.
The Liberals went with “Let’s finish the job for Tasmania”. I’m sure this isn’t meant to be read as a threat, but I can’t help but hear it in Alan Rickman’s voice.
Even if we leave aside the (unintended?) menacing implications, the slogan encourages voters to wonder why the job hasn’t been finished in the previous 11 years of Liberal government.
Labor is using “A Fresh Start for Tasmania”: a cliche, but serviceably simple.
The problem is, they stretched the slogan to the point of collapse by applying it to all of their policy headings. This meant that we ended up enduring “a fresh start for cost of living relief”, “a fresh start for our society”, and so on.
A special mention to Labor’s social media ads, which had all the gravitas of a toddler demanding their turn on the playground swings.
The Greens didn’t limit themselves to one slogan. Instead, they used various taglines on the theme of “the mess made by the major parties”, or simply stated their main policy pillars: stopping the stadium, investing in health and housing, protecting the environment, and stopping privatisation.
There were also some questionable offerings from the menagerie of independents. Surely the voters are entitled to expect more from their MPs than the “familiar face in Clark” offered by former Liberal MP Elise Archer? And as an experienced journalist, I’m sure Peter George could have done better than the derivative “Time for Change”.
What can we expect?
What will Tasmanians end up with after a campaign that has been less sound and fury and more white noise and niggle?
It looks like more of the same.
Polling shows that the two major parties are on the nose, particularly with younger voters. Labor and Liberal are fairly aligned on some of the headline issues that divide the electorate, including the stadium and salmon farming.
All this points to no party winning a majority of the 35 seats. If this happens, the convention is that the Governor gives the party with the most seats the first crack at cobbling together enough support from the crossbench to form a minority government.
Minority governments can come in lots of different shapes and sizes, from loose “confidence and supply” agreements to more formal power-sharing coalitions.
If the party with the most seats fails to form government, the Governor would typically let the second-largest party try.
Both the Liberals and Labor will face big challenges if they are given the opportunity to form minority government.
The Liberal Party has its nose ahead in most polls. However, several of the crossbench MPs the previous Liberal government relied on for support voted in favour of the no confidence motion in Rockliff.
Most of these MPs are likely to be re-elected, and will be wary of doing deals that essentially put in place the same government that they recently helped to bring down.
Labor have backed themselves into a corner by repeatedly ruling out working with the Greens. This would leave them needing to negotiate with a diverse array of crossbench MPs. Depending on the final distribution of seats, this might not secure them enough votes on the floor of parliament.
If – as seems likely – Tasmania ends up with another hung parliament, it will fall to our MPs to move beyond point scoring and gamesmanship. We urgently need budget repair, alongside ambitious reforms in health, housing, education, sustainability and productivity.
Here’s hoping that the next government is willing to collaborate and compromise – for the good of the state and to restore trust in our political system.
Robert Hortle does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Ottawa, Ontario, July 16, 2025—The Canadian International Trade Tribunal today continued its order made on October 16, 2019, in expiry review RR‑2018‑006, concerning the dumping of structural tubing from South Korea and Türkiye.
The Tribunal found that the expiry of the order was likely to result in injury. As such, the Tribunal continued its order. The Canada Border Services Agency will therefore continue to impose anti‑dumping duties on these goods.
The Tribunal is an independent quasi‑judicial body that reports to Parliament through the Minister of Finance. It hears cases on dumped and subsidized imports, safeguard complaints, complaints about federal government procurement and appeals of customs and excise tax rulings. When requested by the federal government, the Tribunal also provides advice on other economic, trade and tariff matters.
ATLANTA (July 16, 2025) —State Senator Russ Goodman (R–Cogdell), Chairman of the Senate Agriculture and Consumer Affairs Committee, and State Representative Robert Dickey (R–Musella), Chairman of the House Agriculture and Consumer Affairs Committee, will host the annual Joint Ag Issues Summit on Thursday, August 21, 2025, in Perry, Georgia.
The summit will bring together lawmakers, industry leaders, and members of Georgia’s farming community to discuss the top issues impacting the state’s number one industry. The event will feature key policy updates and a forward-looking agenda focused on protecting Georgia’s agricultural future.
“This summit is about making sure farmers have a seat at the table as we shape policy at the State Capitol,” said Sen. Russ Goodman. “Chairman Dickey and I are both farmers ourselves. We know what’s at stake, and we’re committed to listening, learning, and leading on the issues that matter most to Georgia agriculture.”
“As farmers, we know firsthand the challenges and opportunities facing Georgia’s agriculture industry,” said Rep. Dickey. “The Ag Issues Summit is a vital chance for us to come together – farmers, lawmakers and industry leaders – to listen, learn and plan for the future of our state’s number one industry. I’m proud to help lead this effort as we work to strengthen and protect Georgia’s agriculture industry for the generations to come.”
The Summit will convene in the Miller Murphy Howard Building at 401 Larry Walker Pkwy, Perry, Georgia 31069. Registration will begin at 9:00 A.M., and the official program will start at 9:30 A.M. Coffee and lunch will be provided. A detailed agenda will be released in the weeks ahead.
Attendees are encouraged to RSVP by Friday, August 8, either online here or by emailing Rachel.Whitted@senate.ga.gov.
# # # # Sen. Russ Goodman serves as Chairman of the Senate Committee on Agriculture and Consumer Affairs. He represents Senate District 8 which includes Atkinson, Clinch, Echols, Lanier, Lowndes and Pierce Counties and a large portion of Ware County. He may be reached at 404.656.7454 or atruss.goodman@senate.ga.gov
Representative Robert Dickey represents the citizens of District 134, which includes Crawford and Upson counties, as well as portions of Lamar and Peach counties. He was first elected to the House of Representatives in 2011 and currently serves as Chairman of the Agriculture & Consumer Affairs Committee. He also serves on the Appropriations Subcommittee on Education, Banks and Banking, Energy, Utilities and Telecommunications, Higher Education, Natural Resources and Environment and Ways and Means committees, as well as the Special Committee on Resource Management.
For all media inquiries, reach out to SenatePressInquiries@senate.ga.gov.