The Ministry of Statistics & Programme Implementation (MoSPI), National Sample Survey Office (NSSO), Government of India, is pleased to announce that the Brainstorming Session aimed at understanding and improving response to surveys particularly in high income groups/gated societies held today at the Le Meridien Hotel, New Delhi. The session could bring together the key stakeholders, including policymakers, urban economists, survey agencies, institutions,multilateral organisations like World Bank and ILO, officers from state statistical agencies, regulatory bodies and service agencies of the real estate sector, facility management companies, representatives from Residents Welfare Associations (RWAs) and gated Societies.
Around 150 participants from more than 25 organisations/Housing Societies attended the session. In addition to this, representatives from more than 50 housing societies from different part of the country particularly from the metropolitan cities joined virtually through respective Regional Offices of NSSO. The event marked a significant step in engaging distinguished experts from various domainsalong with the representatives from RWAs/Housing Societies for exploring innovative solutions to improve participation from this specific segment of population and ensure collection of more representative data.
In the opening remarks, Dr. Saurabh Garg, Secretary, MoSPI,highlighted the need for building trust among the respondents of gated societies to enhance the cooperation and its impact on accuracy and reliability of the data. Thereafter, Sh. Anand Kumar, Chairman, RERA, Delhi & Sh. Shiv Das Meena, Chairman, RERA, Tamil Nadu in their addressemphasized the importance of the accurate data for planning and policy purposes. Further, they appealed to all the Housing Societies to cooperate with the NSSO in data collection and urged that RERA will extend all possible support to create awareness on NSSO surveys.
The brainstorming session included presentations on recent trends in response, their effects on data quality, and discussions on leveraging technology and customized strategies to enhance survey participation among high-income groups. The event highlighted international best practices and examined the role of Resident Welfare Associations (RWAs) in facilitating data collection.
The Experts from distinguished institutes, survey agencies from the State Government and private sector, international organizations & Builder’s Association etc, shared their insights on the possible strategies to mitigate non-response. Asession for sharing the views and open discussions by RWAs was also held.
Based on the discussions, the following major suggestions emerged:
Extensive publicity of the surveys to reach out the general public regarding thepurpose and utility of the surveys through various channels including social media.
Explore feasibility of useof data available at the National Urban Digital Mission (NUDM),
Using the appropriateadministrative machinery for approaching RWAs
Use of alternative mode of data capture such as email/web links/CATI etc.
Similar kind of sessions may be planned atlocal level at different parts of the country for sensitisation.
Using Flexi-timing approach in data collection
Shortening of questionnaire to minimise respondent fatigue
In view of the improved economic and social status of women in high income group, special focus may be given to create awareness among them.
Through this initiative, MoSPI aims to enhance collaboration, build trust, and improve data accuracy and comprehensiveness. The session promotes awareness of NSSO’s data privacy practices and the importance of survey participation for evidence-based policymaking. By engaging directly with high-income groups and gated communities, MoSPI seeks to boost response rates and strengthen survey reliability.
Ministry of Skill Development and Entrepreneurship plants 11,778 trees in a day under ‘Ek Ped Maa Ke Naam” initiative under Swachhata Hi Seva Campaign Shri Jayant Chaudhary, MoS (I/C), Ministry of Skill Development and Entrepreneurship participates in the “Ek Ped Maa Ke Naam” initiative; plants a tree in Jan Shikshan Sansthan in Ranchi
Posted On: 20 SEP 2024 6:51PM by PIB Delhi
The Ministry of Skill Development and Entrepreneurship (MSDE) has taken a heartfelt step toward honoring mothers and nurturing the environment with the “Ek Ped Maa Ke Naam” initiative, inspired by the vision of Hon’ble Prime Minister Shri Narendra Modi and aligned to the ongoing Swachhta Hi Seva campaign of the government. This noble initiative emphasizes the importance of environmental conservation, encouraging citizens to plant a tree in the name of their mothers to symbolize care, growth, and respect.
On June 5, 2024on the occasion of World Environment Day, Hon’ble Prime Minister Narendra Modi launched the ‘Ek Ped Maa Ke Naam’ campaign and planted a Peepal tree at Buddha Jayanti Park in the national capital, marking the beginning of a nationwide movement for environmental conservation.
During his recent visit to the Jan Shikshan Sansthan (JSS) in Ranchi, Shri Jayant Chaudhary, Hon’ble Minister of Skill Development and Entrepreneurship,and Minister of State, Ministry of Education, Government of India,planted a sapling to mark the ministry’s commitment to this cause. The event was a moving tribute, symbolizing the nurturing role of mothers in shaping lives and society, while highlighting the importance of preserving the environment for future generations.
Simultaneously, Shri Atul Kumar Tiwari, Secretary, MSDE, led the plantation drive at Kaushal Bhawan in New Delhi. In line with the Prime Minister’s clarion call for environmental stewardship, both events served as catalysts for action across the nation, with MSDE actively mobilizing its institutions to participate in this green mission.
Pan-India Engagement Across Skill Development Institutions
The “Ek Ped Maa Ke Naam” campaign saw enthusiastic participation from various MSDE institutions across India. In total, 11,778 trees were planted across MSDE divisions, including:
Pradhan Mantri Kaushal Kendras (PMKKs): Special plantation drives were organized across multiple PMKKs, with participants planting saplings and pledging to care for them as part of their commitment to sustainable living.
National Institutes for Entrepreneurship and Small Business Development (NIESBUD) and Indian Institute of Entrepreneurship (IIE): Both institutions organized workshops to educate students and the local community on the importance of tree plantation and environmental conservation.
Industrial Training Institutes (ITIs) and National Skill Training Institutes (NSTIs): These institutes actively engaged students and trainers in tree-planting activities, while also incorporating the importance of sustainable practices into their curricula.
These events reflect MSDE’s dedication to not only building a skilled workforce but also promoting responsible citizenship. The widespread participation of students, trainers, and staff from across the nation has amplified the message of sustainability, making “Ek Ped Maa Ke Naam” a symbol of collective responsibility towards environmental protection.
A Tribute to Mothers and Mother Nature
The “Ek Ped Maa Ke Naam” initiative is a humble yet profound gesture that embodies the deep respect for mothers while addressing the critical need for environmental conservation. Under the guidance of the Hon’ble Prime Minister, this initiative seeks to inspire citizens across the country to take small yet significant steps in fostering a greener and healthier India.
MSDE is proud to align its institutions and programs with this visionary initiative, ensuring that skill development goes hand-in-hand with sustainability, community building, and national pride.
The Swachhata Hi Seva Campaign with the theme: “Swachhta Swabhav, Swachhta Sanskar” is a significant step towards realizing the Hon’ble Prime Minister Narendra Modi’s vision of a Swachh Bharat, with a comprehensive nationwide series of cleanliness drives, awareness activities, and public engagements.
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. Under suspension, floor debate is limited, all floor amendments are prohibited, points of order against the bill are waived, and final passage requires a two-thirds majority vote.
At the request of the Majority Leader and the House Committee on the Budget, CBO estimates the effects of those bills on direct spending and revenues. CBO has limited time to review the legislation before consideration. Although it is possible in most cases to determine whether the legislation would affect direct spending or revenues, time may be insufficient to estimate the magnitude of those effects. If CBO has prepared estimates for similar or identical legislation, a more detailed assessment of budgetary effects, including effects on spending subject to appropriation, may be included.
CBO’s estimates of the bills that have been posted for possible consideration under suspension of the rules during the week of September 23, 2024, include:
H.R. 522, Deliver for Veterans Act, as amended
H.R. 618, Improving Access to Workers’ Compensation for Injured Federal Workers Act, as amended
H.R. 1657, Lake Winnibigoshish Land Exchange Act of 2023, as amended
H.R. 1726, Continued Rapid Ohia Death Response Act of 2023, as amended
H.R. 1735, Mathematical and Statistical Modeling Education Act, as amended
H.R. 2468, Mountain View Corridor Completion Act, as amended
H.R. 2706, Charlotte Woodward Organ Transplant Discrimination Prevention Act, as amended
H.R. 2950, Coastal Habitat Conservation Act of 2023, as amended
H.R. 3208, DHS Cybersecurity On-the-Job Training Program Act
H.R. 3433, Give Kids a Chance Act of 2023
H.R. 3884, Sickle Cell Disease and Other Heritable Blood Disorders Research, Surveillance, Prevention, and Treatment Act of 2023
H.R. 4094, Great Salt Lake Stewardship Act
H.R. 4259, Think Differently about Education Act of 2023, as amended
H.R. 4527, Health DATA Act, as amended
H.R. 4596, Upper Colorado and San Juan River Basins Endangered Fish Recovery Programs Reauthorization Act of 2023, as amended
H.R. 5302, Michel O. Maceda Memorial Act
H.R. 5490, Bolstering Ecosystems Against Coastal Harm Act, as amended
H.R. 5509, Electronic Permitting Modernization Act, as amended
H.R. 5526, Seniors’ Access to Critical Medications Act, as amended
H.R. 5646, Stop Campus Hazing Act, as amended
H.R. 5867, To designate the facility of the United States Postal Service located at 109 Live Oaks Boulevard in Casselberry, Florida, as the “Colonel Joseph William Kittinger II Post Office Building”
H.R. 6125, Online Dating Safety Act of 2023, as amended
H.R. 6219, ASCEND Act, as amended
H.R. 6231, Department of Homeland Security Policy Issuance Review act
H.R. 6474, To amend the Energy Policy Act of 2005 to expedite geothermal exploration and development in previously studied or developed areas
H.R. 6633, To designate the facility of the United States Postal Service located at 9355 113th Street in Seminole, Florida, as the “Army SSG Ryan Christian Knauss Memorial Post Office Building”
H.R. 6656, Stuck on Hold Act, as amended
H.R. 6829, HEARTS Act of 2024, as amended
H.R. 6852, Holcombe Rucker Park Landmark Act, as amended
H.R. 7073, Next Generation Pipelines Research and Development Act, as amended
H.R. 7189, Congenital Heart Futures Reauthorization Act of 2024, as amended
H.R. 7323, Montgomery GI Bill Selected Reserves Tuition Fairness Act of 2024, as amended
H.R. 7370, Geothermal Energy Opportunity Act, as amended
H.R. 7422, Geothermal Cost-Recovery Authority Act of 2024, as amended
H.R. 7630, ANCHOR Act, as amended
H.R. 7685, IMPACT Act, as amended
H.R. 7764, Commission to Study the Potential Transfer of the Weitzman National Museum of American Jewish History to the Smithsonian Institution Act, as amended
H.R. 8108, To amend title XIX of the Social Security Act to add a Medicaid State plan requirement with respect to determination of residency of certain individuals serving in Armed Forces
H.R. 8419, American Victims of Terrorism Compensation Act
H.R. 8674, Milestones for Advanced Nuclear Fuels Act, as amended
H.R. 8958, To reauthorize the National Aeronautics and Space Administration, and for other purposes, as amended
H.R. 9459, PATHS Act
H.R. 9460, DHS Joint Task Forces Reauthorization Act of 2024
H.R. 9488, SHIELD Act, as amended
S. 133, NAPA Reauthorization Act
S. 134, Alzheimer’s Accountability and Investment Act
S. 150, Affordable Prescriptions for Patients Act of 2023
S. 376, A bill to designate the area between the intersections of 16th Street, Northwest and Fuller Street, Northwest and 16th Street, Northwest and Euclid Street, Northwest in Washington, District of Columbia, as “Oswaldo Paya Way”
S. 612, Lake Tahoe Restoration Reauthorization Act
S. 656, Veteran Improvement Commercial Driver License Act of 2023
S. 670, IMPACTT Human Trafficking Act
S. 679, GAO Database Modernization Act of 2024
S. 794, CTPAT Pilot Program Act
S. 1549, CBO Data Access Act
S. 2087, Congressional Award Program Reauthorization Act of 2023
S. 2685, Reuse Excess Property Act
S. 3639, To designate the facility of the United States Postal Service located at 2075 West Stadium Boulevard in Ann Arbor, Michigan, as the “Robert Hayden Post Office”
S. 3640, To designate the facility of the United States Postal Service located at 155 South Main Street in Mount Clemens, Michigan, as the “Lieutenant Colonel Alexander Jefferson Post Office”
S. 3764, United States Commission on International Religious Freedom Reauthorization Act of 2024
S. 3851, To designate the facility of the United States Postal Service located at 90 McCamly Street South in Battle Creek, Michigan, as the “Sojourner Truth Post Office”
The Department of Commerce (DoC) has focused on empowering exporters, streamlining processes, and promoting economic growth through innovative solutions during the first 100 days of this Government. These achievements underscore the. Below are some of the key highlights:
1. Empowering Exporters through Trade Connect e-Platform The launch of a comprehensive Trade Connect e-Platform has connected over 6 lakh IEC holders, 185 Indian Mission officials, and over 600 Export Promotion Council members with Directorate General of Foreign Trade (DGFT)/DoC offices and banks. This digital initiative enhances the ease of doing business for small and medium enterprises (SMEs) by providing them with information and guidance, fostering a more seamless and transparent export ecosystem.
2. Enhanced Insurance Cover for MSME Exporters To boost exports, the government has introduced enhanced insurance cover for MSME exporters, which is expected to provide credit worth ₹20,000 crore at lower costs. This initiative will make Indian exports more competitive, benefitting around 10,000 exporters.
3. Reducing Compliance Burden through Self-Certified Electronic Bank Realisation Certificate (eBRC) system The introduction of a self-certified electronic Bank Realisation Certificate system has significantly reduced compliance costs for exporters. Previously costing between ₹500-₹1,500 per eBRC, this system now saves exporters over ₹125 crore and simplifies the process for claiming benefits and refunds. This paperless system also aligns with the government’s broader goals of promoting a digital, eco-friendly economy, cutting down both administrative and environmental expenses.
The bulk generation and Application Programming Interface (API) integration of eBRCs significantly reduce time and effort, streamlining the process for exporters and stakeholders. This system is particularly beneficial for small exporters, especially in e-commerce, as it efficiently handles high-volume, low-cost transactions. As a result, it enables them to claim benefits and refunds more effectively, supporting their growth and participation in international trade.
4. Connecting SME Exporters to the World through E-Commerce Export Hub (ECEH) The launch of the E-Commerce Export Hub (ECEH) is poised to revolutionize India’s cross-border e-commerce ecosystem, with projections indicating a potential export value of USD 100 billion by 2030. ECEHs will provide artisans, SMEs, and One District One Product (ODOP) producers easy access to global markets, reduce costs and simplify logistics.
These hubs will boost employment opportunities in transport, warehousing, and quality assurance. Linking Tier 2 and Tier 3 cities, as well as rural areas, with the global marketplace ECEH will play a significant role in driving the digital transformation of these regions. This connection will enable smaller cities to access broader opportunities in international trade, fostering economic growth and inclusion.
5. Reducing Transaction Costs for MSMEs on GeM Portal
To promote greater MSME participation in the Government e-Marketplace (GeM), the number of pricing slabs has been reduced, making it easier for vendors to understand and comply with. New cap on charges ensures greater affordability for high-value transactions as Orders above ₹10 Crore will now pay a flat fee of ₹3 Lakh, a massive reduction from the transaction charges previously capped at ₹72.5 lakh.
6. Bharat Mart in Dubai
In a groundbreaking initiative, the Department of Commerce has facilitated the establishment of Bharat Mart in Dubai. This hub will provide Indian MSMEs cost-efficient access to the Gulf Cooperation Council (GCC), African, and CIS markets, thereby boosting India’s exports to these regions.
7. Eliminating Human Interface through Jansunwai
The government has further enhanced ease of doing business by launching Jansunwai, a platform that facilitates smooth communication eliminating intermediaries and providing direct communication between stakeholders and the Department. This fosters transparency and saves businesses time and effort, reducing the need for physical office visits.
8. Strengthening the Organic Regulatory Ecosystem
A revamped National Programme of Organic Production (NPOP) is set to benefit approximately 20 lakh farmers from 5,000 grower groups through enhanced export opportunities. With a focus on improving certification standards, organic exports are expected to surpass USD 1 billion by 2025-26.
9. Pradhan Mantri Cha Shramik Protsahan Yojana (PMCSPY)
Under this initiative, more than 10 lakh workers across 1,210 tea gardens in Assam and West Bengal will have access to better healthcare, education, and resting shed facilities. This marks a major step toward improving the quality of life for tea garden workers and their families.
10. Rollout of ICEGATE Across All Non-IT/ITES SEZs
The ICEGATE portal has been expanded to cover all non-IT/ITES SEZ units, enabling them to apply for benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme. This move enhances ease of doing business, offering 24×7 helpdesk support to SEZ units and ensuring more seamless trading operations.
These transformative initiatives reaffirm the government’s commitment to expanding India’s global trade footprint while ensuring the development and welfare of its people. With the continued efforts of the Department of Commerce, India is well on its way to becoming a global economic powerhouse by 2047.
Source: United States House of Representatives – Congressman Joe Neguse (D-Co 2)
Lafayette, CO— Today, House Assistant Minority Leader Joe Neguse, founder and Co-Chair of the Bipartisan Wildfire Caucus, is taking action to streamline access to federal assistance under the Small Business Administration for families and communities impacted by natural disasters. The Assistant Leader introduced a bipartisan legislative package, including the Natural Disaster Loan Interest Relief Act, the Small Business Disaster Damage Fairness Act, and the Disaster Loan Application Flexibility Act. These policies seek to update management of and access to disaster-related loans issued by the Small Business Administration (SBA) by waiving accrued fees, increasing unsecured loan threshold limits, and by simplifying loan application processes.
Since first being elected to Congress in 2018, western wildfires have impacted thousands of households in Assistant Leader Neguse’s congressional district. After speaking directly with those affected, Neguse sought to create legislation that limits confusion and helps make it easier for families to access the critical resources needed to jumpstart their path to recovery.
“In recent years, the Marshall, Cameron Peak, East Troublesome, and most recently the Alexander Mountain and Stone Canyon Fires have disrupted the lives of countless families across Colorado,” said House Assistant Minority Leader Joe Neguse. “And the road to recovery after disaster can be slow and at times, all-consuming. That is why I am introducing three bills that ensure those affected receive the recovery assistance they need at the speed they need. Mitigation and response and recovery go hand in hand, and today we are seeking to equip homeowners, small business owners, and individuals with the foundational tools required to rebuild their lives after disaster.”
The package of bills includes:
The Natural Disaster Loan Interest Relief Act, co-led by Rep. Juan Ciscomani (R-AZ). This bill codifies a policy implemented by the SBA to provide zero interest on disaster loans and to give homeowners and business owners approved for these loans up to one year from the date of the loan to begin making payments. Read bill text here.
The Small Business Disaster Damage Fairness Act, co-led by Rep. Jay Obernolte (R-CA). This bill directs the SBA to not require collateral for loans of $50,000 or less, an increase from what is currently $14,000, allowing a greater number of individuals to access a physical disaster home or business loan. Read bill text here.
The Disaster Loan Application Flexibility Act, co-led by Rep. Mike Simpson (R-ID). This bill modifies application deadlines and communication requirements for disaster assistance by directing the SBA to extend loan application deadlines past the current window of two to three months post-disaster declaration, and issuing guidance for public awareness campaigns in affected areas to better educate individuals on the application process and ensuring the Members of Congress who represent these districts stay informed and receive regular updates. Read bill text here.
Find a one-pager on the disaster recovery legislative packagehere.
“I applaud Congressman Neguse and his partners for their bipartisan support and dedication to reforming the Small Business Administration disaster assistance loan programs, and helping to ensure disaster survivors face minimal obstacles during their recovery and rebuilding journey. Homeowners impacted by disasters deserve flexibility and grace as they piece their lives back together. These bills are the necessary steps we need to prioritze the survivor over the onerous processes which impede disaster recovery,” said Jeri Curry, Executive Director,Marshall ROC.
Background
Assistant Leader Neguse has been leading efforts in Congress to expand access to critical federal disaster assistance for communities impacted by natural disaster. Most recently, he introduced the bipartisan, bicameral Disaster Management Costs Modernization Act, which would allow state and local governments to use FEMA disaster management costs for multiple disasters. He also led Western lawmakers in aletterto the U.S. Small Business Administration (SBA) requesting the agency extend the time periods during which affected individuals may apply for SBA physical damage loans following a presidential disaster declaration.
Following the Marshall Fire in 2021, Neguse sought to secure proper cost coverage for Coloradans. Alongside Senators Bennet and Hickenlooper,Rep. Neguse led a successful effort to get the SBA to update their formula used to calculate the Disaster Loan Program amount survivors can borrow to rebuild after the Marshall Fire.Rep. Neguse and the Colorado senators were also able to get FEMA to agree to cover the costs of removing foundations, basements and burned vehicles damaged in the Marshall Fire.This coverage is extremely rare and has only been granted for a handful of other wildfires in recent years.
Source: United States House of Representatives – Congresswoman Susie Lee (NV-03)
Award given to members of Congress with strong records of working across the aisle for American businesses
WASHINGTON – Yesterday, Congresswoman Susie Lee (NV-03) was awarded the U.S. Chamber of Commerce’s Advocate for American Business Award during this week’s annual Vegas Chamber in D.C. Week. The award recognizes Congresswoman Lee’s strong track record of working across the aisle to support southern Nevada businesses and create good paying jobs.
“One of my most important jobs in Congress is to support our business community back home so we can create more jobs, strengthen our workforce, and diversify our economy. It is an honor to be recognized by the U.S. Chamber for that work,” said Congresswoman Susie Lee. “From cutting government red tape to bringing back federal dollars for our community, I’m committed to supporting our local and state economies. I will continue working with Republicans and Democrats to build on our critical public-private partnerships.”
“The U.S. Chamber appreciates Congresswoman Susie Lee’s focus on economic growth and bipartisanship,” said Jennings Imel, Vice President of the U.S. Chamber’s Western Regional Office. “We are proud to present her with our Advocate for American Business Award in recognition of her leadership, support for job creators, and bipartisan approach to tackling critical issues facing businesses and families in Southern Nevada.”
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Read more about the US Chamber of Commerce online here.
Source: United States House of Representatives – Congresswoman Susie Lee (NV-03)
Supports Rural and Tribal Businesses, Healthcare Businesses, and Advanced Clean Energy Manufacturers
WASHINGTON – Today, Congresswoman Susie Lee (NV-03) announced more than $4 million in federal investments to help small businesses in key sectors of the economy grow and hire new workers. The investment is being awarded to the Nevada Governor’s Office of Economic Development through the State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP).
SBOP provides funding to connect underserved and small businesses to the financing needed to participate in key supply chains, including electric vehicle manufacturing, semiconductor manufacturing, construction, transportation, clean energy generation, and more. It was designed to catalyze additional private sector investment by supporting small business technical assistance services.
“Small businesses and their workers are the lifeblood of our economy and our communities,” said Congresswoman Susie Lee. “I will always fight to bring back the federal dollars southern Nevada small businesses need to grow so we can create more local, good-paying jobs right here at home.”
This week, Congresswoman Lee was awarded the U.S. Chamber of Commerce’s Advocate for American Business Award for her strong bipartisan record of supporting businesses of all sizes. To date, she has helped secure nearly $4 billion in federal investments for hardworking Nevadans.
Source: United States House of Representatives – Representative Chrissy Houlahan (D-PA)
WASHINGTON, D.C. – Today, Representative Chrissy Houlahan (D-PA) sent a letter to President Joe Biden asking for more information on the IDF’s use of 2,000-pound bombs in a densely populated humanitarian zone southwest of Khan Younis on September 10. Houlahan asked President Biden if the bombs were U.S.-made and, if so, if they were sent prior to the U.S. embargo on these weapons in May. She also asked for details on the Biden Administration’s efforts to encourage Israeli Prime Minister Netanyahu to stop using these weapons, especially in densely populated civilian areas, and urged him to have these critical conversations.
“I have dedicated my life to national security and service and believe our nation’s values are a source of credibility and power. I know from personal experience that you cannot destroy a terror ideology with military force,” Houlahan said in the letter.
This comes after Houlahan sent a letter in December 2023 to the Biden Administration with a group of her colleagues expressing their concern about Israel’s military strategy, and today, she shared her concern over little progress on that issue.
In today’s letter, Houlahan said, “As this war has continued, I have seen no appreciable changes in Israel’s strategy and in fact, the civilian death toll and humanitarian crisis in Gaza has continued.”
Read Houlahan’s letter here or below.
Dear President Biden,
Thank you for your leadership and continued efforts both to support our ally Israel, and to bring an end to the war in Gaza. As a member of the Intelligence and Armed Services Committees, and a former member of the Foreign Affairs Committee, I appreciate your commitment to finding a solution that will ensure a lasting peace and a durable two-state solution. I continue to be deeply concerned, however, by Prime Minister Netanyahu’s ongoing military strategy, including the IDF’s use of 2,000-pound bombs in a densely populated humanitarian zone southwest of Khan Younis on September 10, 2024.
Last December, I sent you a letter alongside a group of my colleagues expressing our concern about Israel’s military strategy in this conflict, noting then that we believed it jeopardized efforts to destroy the terrorist organization Hamas and secure the release of all hostages. As this war has continued, I have seen no appreciable changes in Israel’s strategy and in fact, the civilian death toll and humanitarian crisis in Gaza has continued. This recent bombing on September 10 is particularly alarming because your Administration paused the shipment of 2,000- and 500-pound bombs to Israel in May 2024 due to concerns about usage in densely populated civilian areas. Though I am thankful that your Administration has continued to withhold 2,000-pound bombs, I
have concerns about the origins of the weapons used on the al-Mawasi humanitarian zone.
I ask if your Administration is aware of if the 2,000 bombs used on September 10 were U.S.-made, and if so, is it your belief that these weapons were sent prior to the embargo in May? More specifically, do you know when exactly these weapons were sent? Given the continued pause on 2,000-pound bombs, has your Administration expressed your concern about the use of these weapons, especially on densely populated civilian areas, to Prime Minister Netanyahu? I encourage you to have those conversations if you haven’t already and support continued embargoes of heavy bombs.
Over the last 11 months, civilians across Gaza have been told by the Israeli government and the IDF to evacuate to al-Mawasi for safety. Hundreds of thousands occupy the 16-square mile area. I understand the difficult nature of this conflict, as Hamas is not using strategies that protect the lives of the Palestinian people. However, the use of heavy bombs on one of the only remaining humanitarian zones in Gaza with a high concentration of civilians is not in line with U.S. values and does not advance the cause of security for Israel or protect innocent civilians from catastrophic harm.
To restate from the December letter, I have dedicated my life to national security and service and believe our nation’s values are a source of credibility and power. I know from personal experience that you cannot destroy a terror ideology with military force.
As we reach the solemn anniversary of the horrific tragedy that took place on October 7, 2023, with more than 100 people (including Americans) still held captive by Hamas, it is past time that this war comes to an end. Hamas’ recent change in strategy calling for hostages to be executed if the IDF gets close, as we saw with the death of six hostages including American Hersh Goldberg-Polin, underscores this immediate need.
I appreciate your steadfast efforts to secure a hostage and ceasefire deal, and your leadership in bringing both Israel and Hamas to the negotiating table. I urge you to continue doing all that you can to pressure Prime Minister Netanyahu and the leaders of Hamas to reach a deal that ensures the return of all remaining hostages and works towards a peaceful, two-state solution which allows Palestinians to be free from the terrorist organization Hamas and where Israelis can live without fear of another October 7. As a Member of Congress, I remain committed to supporting your Administration in those efforts.
Sincerely,
Chrissy Houlahan
Houlahan is an Air Force veteran, an engineer, a serial entrepreneur, an educator, and a nonprofit leader. She represents Pennsylvania’s 6th Congressional District, which encompasses Chester County and southern Berks County. She serves on the House Armed Services Committee and the House Permanent Select Committee on Intelligence. She is the recipient of the U.S. Chamber of Commerce’s Abraham Lincoln Leadership for America Award which “recognizes members who demonstrate the bipartisan leadership and constructive governing necessary to move our country forward” and the Congressional Management Foundation’s 2022 Democracy Award for best Constituent Services in Congress.
Source: United States House of Representatives – Congressman Scott Perry (PA-10)
Washington, D.C. –On Wednesday, Congressman Scott Perry accepted the prestigious Guardian of Small Business Award from the National Federation of Independent Business (NFIB), a leading small business advocacy organization.
“This Congress, small businesses faced tough economic headwinds, especially from inflation, burdensome regulations, and threats of tax hikes at all levels of the government,”said NFIB President Brad Close. “We are proud to recognize the lawmakers from the 118th Congress, including Congressman Scott Perry, who stood up for Main Street by taking pro-small business votes that would reduce taxes, eliminate burdensome government mandates, lower health insurance costs, and fuel the Main Street economy.”
The NFIB Guardian of Small Business Award is presented to Members of Congress with a demonstrated record of supporting America’s small and independent business owners.
“I’m proud to earn the NFIB Guardian of Small Business Award. Small businesses are the foundation of the American economy,”said Congressman Scott Perry.“As a former small business owner myself, I will continue the fight to protect Main Street businesses by cutting taxes, spending responsibly, and slashing unnecessary and burdensome red tape that is killing our small businesses and wrecking the backbone of our Nation.”
NFIB’s Guardian of Small Business Award is reserved for lawmakers who vote consistently with small businesses on key issues identified by small business owners. As the voice of small business, NFIB is the only business organization whose policy positions are established by NFIB members directly.
Source: United States House of Representatives – Congresswoman Veronica Escobar (TX-16)
Congresswoman Veronica Escobar (TX-16) celebrated the General Services Administration (GSA)’s adoption of Viable Action Alternative #4 for the Bridge of the Americas (Puente Libre, BOTA) project. Viable Action Alternative #4, one of several design proposals, which removes all commercial cargo operations and modernizes the bridge with a focus on customer service and environmental justice, comes after years of work and commitment by the Congresswoman to ensure that BOTA is modernized in a way that responds to El Pasoans needs and challenges, including the health and environmental risks posed to residents near the bridge caused by idling commercial traffic.
“After years of advocacy and work for the modernization of our ports of entry, with particular care given to health and environmental impacts on El Pasoans, I am so excited to announce that GSA has finalized the best (and most popular) design option for the Bridge of the Americas,” Congresswoman Escobar said. “Thanks to the Bipartisan Infrastructure Law and the Biden- Harris Administration’s commitment to environmental justice, we are one step closer to delivering transformational investment – over $650 million – to our border region which will lead to cleaner air and a healthier community for generations to come. I look forward to seeing these designs come to life for a land port that will prioritize El Pasoans, create jobs, and promote economic growth and development for our community. I’m grateful to GSA and CBP who were great partners throughout this process, and grateful to all El Pasoans who took part in these important conversations.”
$650 – $700 million was appropriated to GSA for Bridge of the Americas modernization in the Bipartisan Infrastructure Law, signed into law by President Biden in November of 2021. Congresswoman Escobar was the only representative in this region to vote in favor of the funding.
Since the funding announcement – Congresswoman Escobar and her office have held a series of listening sessions, public engagements, and surveys with community leaders, neighborhood associations, business and environmental stakeholders, alongside both Customs and Border Protection (CBP) and GSA. These sessions were critical in ensuring the GSA and CBP made decisions based on facts and community input.
Congresswoman Escobar’s Push to Remove Commercial Traffic and Prioritize El Pasoans at the Bridge of the Americas:
August 2022– Congresswoman Escobar hosted a meeting with GSA to kick off stakeholder engagement for the BOTA modernization. Local government, Customs and Border Protection (CBP), International Boundary and Water Commission (IBWC), Department of State, HOME, neighborhood associations near the bridge and other stakeholders attended to learn about the process. GSA committed to robust community engagement throughout the design concept and environmental impact process.
GSA hosted a series of community meetings beginning in Fall 2022, where the Congresswoman helped ensure local community members were present and their voices heard at the highest levels
April 7, 2023 – Congresswoman Escobar met with GSA to provide feedback on concerns and issues shared with her by El Paso stakeholders.
July 5, 2023 – Congresswoman Escobar met with members of the San Xavier, Chamizal, and Washington-Delta neighborhood associations regarding their experiences with past construction projects impacting their communities and their concerns about the BOTA modernization project.
July 19, 2023 – Congresswoman Escobar sent a letter to GSA requesting a Health Impact Assessment to be included as part of the Environmental Impact Survey process.
October 19, 2023 –Congresswoman Escobar announced a series of listening sessionson BOTA with various stakeholders and sent out an email survey asking constituents their opinion on commercial traffic at BOTA.
October 27, 2023 – Congresswoman Escobar hosted a convening of governmental stakeholders- United States federally, Texas state, local and Ciudad Juarez and State of Chihuahua attending.
November 13, 2023 – Congresswoman Escobar hosted a virtual town hall with a legislative update, including an update on the BOTA LPOE modernization project, with over 2,000 constituents in attendance.
November 17, 2023 – Congresswoman Escobar hosted a listening session with US and Mexico industry leaders (maquilas, custom brokers, trucking companies, etc)
January 2024 – Congresswoman Escobar hosted a listening session at the Chamizal Recreational Center with GSA, IBWC, and CBP leadership to hear from the community members including Familias Unidas, San Xavier and Washington-Delta Neighborhood Associations
May 2024 – Congresswoman Escobar hosted a meeting with GSA, CBP, City and County to discuss BOTA and what can be done for City and County to prepare for additional traffic at other ports of entry.
July 2024 – Congresswoman Escobar hosted an update meeting with local and federal governmental stakeholders for BOTA, including Juarez Mayor and ANAM Director.
More information about the Bridge of the Americas project and Alternative #4 can be found here.
Source: United States House of Representatives – Congressman John Rose (TN-06)
WASHINGTON, DC—Today, H.R. 4657, a bill introduced by U.S. Representative John Rose (TN-06) passed the U.S. House of Representatives as part of a broader legislative package by a vote of 215-203-1.
U.S. Rep. Rose released the following statement:
“Retirement accounts are at risk of underperforming due to left-wing activist investors forcing public companies to take social and political positions that diminish economic growth,” said Rep. Rose. “My bill, which I am extremely proud to have led its passage through the U.S. House, prevents this from happening. ESG investments have no place in Tennesseans’ retirement accounts, and I am proud to have led the charge in the U.S. House to return retirement portfolios to what matters most—maximizing gains.”
Rep. Rose delivered the following remarks on the House Floor during debate of H.R. 4790, which included the text of his legislation. Watch here.
“Under the Biden-Harris Administration, economic growth has been sacrificed to pursue a woke agenda detrimental to Tennesseans. This is one of the many reasons I rise in support of my Michigan colleague’s legislation, H.R. 4790. The Tennesseans I represent can be assured that I will continue to prioritize working families over the woke, socialist agenda known as ESG that far-left progressives are inserting into retirement accounts.
“My bill, that is included in this package, would protect retail investors and retirement savings from left wing, activist shareholders and socially directed investment funds abusing the shareholder process to advance their progressive political agendas. Activist investors that force companies to take social positions on issues like abortion and climate change shouldn’t be making business decisions.
“My bill would offer companies respite from these harmful and extremist shareholder proposals, which is why my bill is referred to as the RESPITE Act in the Senate.
“Tennesseeans know firsthand how woke priorities don’t align with our values or our financial interests. That’s why we stood up to Tractor Supply Company and forced them to care about people again and not politics.
“When the Securities and Exchange Commission, or SEC, came after our farmers to collect ESG-related information, the Tennessee Attorney General’s office sued the SEC to remind them that they were overstepping by engaging in environmental policy.
“Tennessee is proud to lead the charge against the woke agenda championed by the Biden-Harris Administration.
“That’s why, Mister Speaker, I urge Members to join me in voting ‘Yes’ on H.R. 4790 so that we can turn the focus back on promoting economic growth and not social wokeness.”
Background:
On July 19th U.S. Representative John Rose introduced H.R. 4657 to protect retail investors and retirement savings from activist shareholders and socially-directed investment funds abusing the shareholder process to advance their activist and oftentimes progressive political agendas.
Currently, under the SEC’s recent Staff Legal Bulletin 14-L, significant social policy issues, like climate-related proposals, no longer need to have a nexus between an individual company and the policy to be included in a proxy statement. This makes it easier for activists to force public companies to take positions on social and political issues. Under Chair Gensler, the SEC has tasked unelected bureaucrats with making subjective judgments about whether a company should include these proposals on its proxy statement.
Source: United States Senator for Washington Maria Cantwell
09.20.24
City of Chehalis Gets Nearly $1M Grant to Plan Hydrogen Fueling Facility at Airport
WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), chair of the Senate Committee on Commerce, Science, and Transportation, announced that the City of Chehalis will receive a $994,653 federal grant to help plan a proposed hydrogen fueling facility as part of the Chehalis Hub for Aviation Innovation and Sustainable Energy (CHAISE) at Chehalis-Centralia Airport.
The grant will fund a feasibility study, design services, and public engagement for the proposed multimodal hydrogen fueling facility. The development may include a fueling station, on-site storage, or hydrogen generation. The Chehalis-Centralia Airport is an ideal location for a hydrogen fueling center, since it’s halfway between Seattle and Portland and close to I-5. Chehalis is also seeking funding from the SMART grant program and the Charging and Fueling Infrastructure Grant program.
Hydrogen is a clean fuel that, when consumed in a fuel cell, produces no dirty emissions — only water. Hydrogen can be produced from existing power resources, such as solar and hydropower.
The grant was awarded through the Department of Transportation’s Innovative Finance Asset Concession Grant Program, administered by the Build America Bureau, and is a new program authorized by the Bipartisan Infrastructure Law (BIL). The program provides $100 million over five years to help public entities scan existing assets to unlock value from them and explore innovative financing and delivery opportunities through, e.g., the Build America Bureau’s Transportation Infrastructure Finance and Innovation Act?(TIFIA) low-cost loan program. The program awards two types of grants: technical assistance grants and expert services grants. According to USDOT, the technical assistance grants will use the funding to enhance their organizational capacity and advance a portfolio of assets by conducting pre-construction tasks, such as asset scans, market studies, delivery option analyses, financial modeling, and other activities considering innovative finance and delivery, including asset concessions. The expert services grants will use the funding to hire advisors to analyze a specific existing asset for innovative financing and delivery opportunities, including public-private partnerships.
Sen. Cantwell has helped position the Pacific Northwest to be a leader in hydrogen production. In July 2023, she announced that the Pacific Northwest Hydrogen Association (PNWH2) will receive $27.5 million from the U.S. Department of Energy (DOE) to kickstart the first phase of a $1 billion federal investment to develop hydrogen as a green energy source in the region. She called the July announcement “a huge milestone in our region’s efforts to create a hydrogen ecosystem that can help provide clean and affordable alternative fuels for our heavy-duty transportation and manufacturing facilities.”
Sen. Cantwell worked to include the H2Hubs program and other key hydrogen investments in the Bipartisan Infrastructure Law during consideration in the Energy and Natural Resources Committee, where she served as a senior member, in July 2021, and pushed for its successful passage through the Senate.
Together with the clean hydrogen incentives included in the Inflation Reduction Act (IRA), these investments represent a historic investment that will help spur hydrogen to be an important piece of the decarbonizing puzzle needed to reach our climate goals.
The Minister of Energy and Natural Resources, the Honourable Jonathan Wilkinson, along with the Honourable Josie Osborne, British Columbia Minister of Energy, Mines and Low Carbon Innovation, and the Honourable Ranj Pillai, Yukon Premier, announced conditionally approved investments of up to $60 million in two critical minerals infrastructure projects in British Columbia’s Golden Triangle and Yukon. The funding would come from the Critical Minerals Infrastructure Fund (CMIF).
September 20, 2024 Vancouver, British Columbia Natural Resources Canada
Investments in critical minerals infrastructure are needed to ensure Canada seizes the unique opportunity presented by the shift to a low-carbon economy and capitalizes on its rich mineral resources. The country is well positioned to be a global leader and leading producer of a wide range of critical minerals that are essential to fueling the clean economy, and in doing so, create good jobs and economic opportunities across the critical minerals value chain – from upstream exploration and extraction to downstream processing, manufacturing and recycling.
The Minister of Energy and Natural Resources, the Honourable Jonathan Wilkinson, together with the Honourable Josie Osborne, British Columbia Minister of Energy, Mines and Low Carbon Innovation, and the Honourable Ranj Pillai, Premier of Yukon, today announced, subject to a final due diligence review by Natural Resources Canada, funding of up to $60 million for two critical minerals infrastructure projects in British Columbia’s Golden Triangle and Yukon. The funding would come from the Critical Minerals Infrastructure Fund (CMIF).
Galore Creek Mining Corporation (Galore Creek) plans to build a 43-kilometre access road to facilitate the development of its copper mine in Tahltan territory in northwestern British Columbia. The Galore Creek deposit contains over 12 billion pounds of copper. Once operational, the mine will significantly increase Canada’s annual supply of the metal. Construction of the access road would connect the mine project to existing road infrastructure, providing overland access to the proposed mill and processing facilities, and creating a transmission corridor for the mine to tap into BC Hydro’s low-emission electricity grid. Road improvements are essential to advancing critical mineral development in northwestern British Columbia, in partnership with First Nations. Subject to final due diligence, Natural Resources Canada has conditionally approved a CMIF investment of up to $20 million for this project.
The Yukon government is seeking to undertake pre-feasibility activities to support a 765-kilometre high-voltage transmission line that would connect the Yukon electricity grid to the North American grid in British Columbia. It includes the development of energy infrastructure in two priority areas for critical mineral development: the Cassiar-Tanana region in Yukon and the Golden Triangle region in British Columbia. The transmission line would support critical mineral production projects such as cobalt, copper, molybdenum, nickel, platinum group metals, tungsten and zinc in Yukon and northern British Columbia. Subject to final due diligence, Natural Resources Canada has conditionally approved an investment of up to $40 million in CMIF funding for this project.
The Critical Minerals Infrastructure Fund is a key program under Canada’s Critical Minerals Strategy that aims to address infrastructure gaps and ensure the sustainable production of critical minerals and the flow of resources to market through transportation, electrification and clean energy infrastructure projects. Further funding decisions on critical minerals infrastructure development projects under the CMIF are expected in the coming months.
These projects, which benefit from close collaboration within the regional tables on energy and resources British Columbia and Yukon, along with the recently announced Northwest British Columbia Highway Corridor Improvement Project, are fundamental initiatives to facilitate the development of critical minerals in the Golden Triangle and Yukon. British Columbia’s Golden Triangle has significant mineral potential and contains approximately 75% of Canada’s known copper reserves. Copper is critical to a variety of industrial processes and is a fundamental component of electrical wires, electronics and renewable energy systems such as solar panels and wind turbines.
Critical minerals are fundamental components of products used in clean energy technologies such as electric vehicles, power transmission lines and batteries. British Columbia and Yukon’s mining sectors provide many of the building blocks for the clean technologies needed to combat climate change and build a clean economy. Across the country, clean energy solutions represent enormous economic opportunities.
Quotes
“These two projects, delivered through the Canadian Critical Minerals Strategy’s flagship program, will help build the infrastructure needed to access and transport our rich critical mineral resources in northern British Columbia and the Yukon. Projects like these accelerate mine construction and allow us to seize this unique opportunity. We need these investments to support critical mineral development in the region, improve community accessibility and safety, and create good mining jobs in British Columbia and the Yukon.”
The Honorable Jonathan Wilkinson
Minister of Energy and Natural Resources
“British Columbia is home to the critical minerals Canada and the world need to build a clean economy. We have a unique opportunity to create good jobs not only in northwest British Columbia, but in communities across the province that supply and service our mining sector. That is why we are working with Canada and First Nations to make the infrastructure improvements needed to unlock billions of dollars of investment in new critical mineral mines like Galore Creek, creating new opportunities for people and communities.”
The Honourable Josie Osborne
British Columbia Minister of Energy, Mines and Low Carbon Innovation
“The Grid Connect project is not just an energy project; it is a transformative initiative for all Yukoners. It will provide clean, affordable and reliable energy that will not only power our homes, but also drive economic and social growth. I thank our partners in British Columbia and the federal government for their collaboration on this important project that will benefit our northern communities. Our government is proud to take this step toward a more sustainable energy future.”
Honourable Ranj Pillai
Premier of Yukon
“This project will connect Canada’s two westernmost territories and help integrate Yukon’s electricity grid with North America. It marks an important step in our shared journey to create a more connected and resilient energy landscape for Yukoners, while reducing greenhouse gas emissions. My sincere thanks to all those whose hard work and dedication made this goal a reality. I look forward to seeing how this progress will clean up Yukon’s energy, help protect our incredible natural landscapes, and create opportunities for economic growth.”
The Honourable John Streicker
Yukon Minister of Energy, Mines and Resources
“We would like to thank Minister Wilkinson and the Government of Canada for their contributions to the development of the Galore Creek Mine and, by extension, Canada’s critical minerals industry. Canada’s support for the Galore Creek Mine demonstrates confidence in our project, our owners, our relationship with the Tahltan Nation, and our commitment to responsibly developing a world-class copper-gold mine.”
Rob Mean
Managing Director, Galore Creek Mining Corporation
“The Galore Creek mine has the potential to significantly increase Canadian production of the copper needed to support the energy transition and global development, creating jobs and economic activity, which aligns with Teck’s goal as a Canadian metals company enabling the energy transition. This investment by the Government of Canada will support the development of the infrastructure needed to advance critical mineral projects and strengthen the country’s mining sector.”
Jonathan Price
President and CEO, Teck Resources Limited
“Newmont is an equal partner in the Galore Creek project with Teck Resources. The Galore Creek mine is Canada’s largest non-developed copper project and could play a critical role in the transition to a low-carbon economy. Global demand for copper is exploding, and we are facing a shortage that underscores the importance of the project. The investment in a critical mine road, made through the Government of Canada’s Critical Minerals Infrastructure Fund, will help unlock the project and unleash the significant critical mineral potential of this region of northwest British Columbia.”
Bernard Wessels
General Manager, North America, Newmont Corporation
Quick Facts
Canada has developed its own critical minerals strategy with the aim of promoting the development of these resources and related value chains to contribute to the transition to a low-carbon economy and support advanced manufacturing and technologies.
supporting economic growth, competitiveness and job creation; promoting climate action and strong environmental stewardship; strengthening global security and partnerships with allies; advancing reconciliation with Indigenous peoples; and fostering a diverse and inclusive workforce and communities.
Canada’s whole-of-government approach to critical minerals development is collaborative, forward-looking, iterative, adaptive and long-term. The initiatives outlined in the Strategy will be implemented and refined in collaboration with provinces, territories, Indigenous peoples, industry and other partners in Canada and internationally.
The FIMC is a flagship program of the Strategy that supports transportation and clean energy infrastructure projects needed to increase Canada’s supply of critical minerals from responsible sources.
The FIMC supports a variety of strategic priorities, including: decarbonizing mining industry operations, strengthening supply chains through the deployment of transportation infrastructure, and advancing economic reconciliation by supporting the participation of Indigenous peoples in critical infrastructure and mineral projects.
The federal government also supports the development of Canada’s abundant critical mineral resources through regional tables on energy and resources of Natural Resources Canada. These regional tables are joint partnerships established with each provincial and territorial government that, in collaboration with Indigenous partners and with input from key stakeholders, seek to identify and accelerate the achievement of shared economic priorities for a low-carbon future in the energy and resource sectors.
Naples, FL, Sept. 20, 2024 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG), a diversified holding company, is pleased to announce the receipt of a royalty payment derived from its ownership stake in Listerine® Antiseptic (Mouthwash), a globally recognized brand in oral hygiene.
As part of its strategic portfolio, Music Licensing, Inc. holds a valuable interest in the Listerine® brand, which continues to perform exceptionally well in the marketplace. The latest royalty payment reflects the company’s ongoing commitment to maximizing shareholder value through diversified asset holdings, including high-profile consumer goods.
“We are proud of the steady revenue stream generated from our stake in Listerine® Antiseptic,” said Jake P. Noch, CEO of Music Licensing, Inc. “This payment not only highlights the strength and reliability of our diverse portfolio but also underscores our ability to create sustainable, long-term value for our shareholders.”
Music Licensing, Inc. continues to pursue strategic investments in both the entertainment and consumer goods sectors, further reinforcing its position as a leader in intellectual property and royalty-based assets.
Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is a diversified holding company and the fifth public performance rights organization (PRO) formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works by notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sauce Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as artificial intelligence (A.I.) created music.
Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in Listerine “Mouthwash” Antiseptic and musical works by artists such as The Weeknd, Justin Bieber, Kanye West, Elton John, Mike Posner, blackbear, Lil Nas X, Lil Yachty, DaBaby, Stunna 4 Vegas, Miley Cyrus, Lil Wayne, XXXTentacion, Jeremih, Ty Dolla $ign, Eric Bellinger, Ne-Yo, MoneyBagg Yo, Halsey, Desiigner, DaniLeigh, Rihanna, and numerous others.
Forward-Looking Statements:
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.
Non-Legal Advice Disclosure:
This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.
Non-Investment Advice Disclosure:
This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication
or the attachment shown at the bottom of the email.
The Unaudited Half Year Report may also be downloaded from the Company’s website at www.oxfordtechnologyvct.com.
At 31 August 2024, the Company’s issued share capital by Share Class is shown in the table above. The Company holds no shares in treasury and the total voting rights in the Company are 27,844,888. This figure of 27,844,888 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this information is now considered to be in the public domain.
For further details about the Company please either visit the Company’s website:
Longevity Biomedical, Inc. is focused on developing and acquiring new technologies spanning therapeutics, health monitoring and digital health solutions to become a leading provider of longevity-related products and services designed to increase the health span for the rapidly growing global aging population.
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Late-stage, diversified pipeline of therapeutic candidates across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair.
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Near-term clinical milestones include Phase 3 start for LBI-201 for Ischemic stroke, Phase 2 data for LBI-101 for soft-tissue reconstruction, and Phase 2 start for LBI-001 in retinal vein occlusion.
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Seasoned management team of medtech and biopharmaceutical veterans with track record of acquiring, developing, and commercializing novel technologies.
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Post-combination company to list on Nasdaq under ticker symbol “LBIO.”
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Business combination expected to close in Q4 2024.
New York, Sept. 20, 2024 (GLOBE NEWSWIRE) — Longevity Biomedical, Inc. (“Longevity” or “Longevity Biomedical”), a biopharmaceutical company focused on advancing new technologies across therapeutics, health monitoring, and digital health solutions to increase human health span, and FutureTech II Acquisition Corp. (“FutureTech”) (NASDAQ: FTII), a publicly traded special purpose acquisition company (“SPAC”), announced today that they have entered into a definitive business combination agreement (the “BCA”) on September 16, 2024. Upon the closing of the transaction pursuant to the BCA, the combined company (the “Combined Company”) will operate as Longevity Biomedical, Inc. and is expected to list on Nasdaq under the ticker symbol “LBIO.”
Despite the rapid pace of the global population aging, Longevity Biomedical believes the current market for longevity-related products and services is fragmented and that, particularly as it relates to low- and middle-income countries, it is difficult for healthcare consumers to find and purchase the products, technologies and services to address their individual aging needs. To address this unmet need, Longevity Biomedical aims to become a consolidator and leading provider of advanced therapeutic, health monitoring and digital health technologies designed to restore tissue form and function and increase health span for the rapidly growing aging population. To achieve this goal, Longevity intends to build on its existing platform of diversified, late-stage technologies by leveraging its seasoned executive team to continue acquiring first-in-class technologies, products and services that address the growing market of age-related diseases and conditions. Longevity has established an existing pipeline of late-stage, diversified therapeutic candidates addressing cardiovascular disease, ophthalmology and soft tissue reconstruction and repair through the proposed acquisitions of the following technologies:
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LBI-201 is a non-invasive ultrasonic device being investigated for treatment of ischemic stroke, the second leading cause of death worldwide. It is designed for rapid, convenient delivery of transcranial ultrasound in combination with conventional thrombolytic drug therapy to increase restoration of blood flow in stroke patients with large vessel occlusions that do not have immediate access to thrombectomy facilities and services. Previous clinical studies have demonstrated a nearly two-fold increase in complete vessel recanalization compared to thrombolytic drug therapy alone.
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LBI-001 combines intravenous administration of microspheres with non-invasive ultrasound as a potential treatment of retinal vein occlusion, one of the most common causes of retinal blindness worldwide. LBI-001 Phase 1 clinical results provided favorable safety data and demonstrated improvements in key visual measurements.
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LBI-101 is an off-the-shelf allogenic tissue biomaterial that has completed enrollment in a Phase 2 clinical study for permanent reconstruction of soft tissue affected by aging, traumatic injuries, and surgical procedures. The injectable application is designed to stimulate tissue repair and regeneration. Clinical studies of LBI-101 have demonstrated initial safety, biocompatibility, and new tissue formation without scarring typically associated with injections.
In addition to these clinical stage technologies, Longevity will have, upon the closing of the transactions contemplated by the C&E Agreements {described below}, a pipeline of preclinical stage indications across its initial therapeutic areas of focus. Longevity also plans to seek to acquire additional cutting-edge health technologies in the areas of health monitoring and digital health solutions.
“Longevity Biomedical is dedicated to advancing science-driven solutions to improve human health. This business combination will provide the platform to advance cutting-edge technologies spanning multiple areas of unmet medical need for the aging population,” said Bradford A. Zakes, Chief Executive Officer of Longevity Biomedical. “The proceeds from this transaction will allow Longevity to reach significant clinical development milestones for our leading technologies that have demonstrated successful results in clinical studies. In addition, Longevity will retain an opportunistic, visionary approach to future health advancements in the areas of health monitoring and digital health solutions.”
“Longevity is known for developing therapeutic solutions and digital health technologies that are focused on addressing unmet medical needs particularly focused on the aging population,” said Mr. Ray Chen, Chief Executive Officer of FutureTech. “FutureTech is excited to partner with Longevity’s experienced leadership team to accelerate its clinical development pipeline to expand its impact in the healthcare industry.”
Transaction Overview
The estimated cash proceeds available to the Combined Company from the transaction consists of FutureTech’s $26.8 million of cash held in trust. The proceeds will be used to achieve key development milestones related to Longevity’s clinical stage assets.
The Combined Company may seek a pre-transaction PIPE that is expected to close concurrently with the closing of the transaction.
Longevity has entered into Contribution and Exchange Agreements (collectively and as amended, the “C&E Agreements”) with each of Cerevast Medical, Inc., a Delaware corporation, and Aegeria Soft Tissue, LLC, a Delaware limited liability company (collectively, the “Targets”), pursuant to which, immediately prior to the closing of the proposed transaction between Longevity and FutureTech under the BCA, Longevity will acquire all of the issued and outstanding equity securities of each of the Targets from the current equity holders in exchange for shares of common stock of Longevity. The Targets are developing the therapeutic candidates across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair as described above. As a result of the transactions contemplated by the C&E Agreements, each of the Targets will be a wholly-owned, indirect subsidiary of the Combined Company upon the closing of the transactions contemplated by the BCA.
The existing stockholder of Longevity and the board of directors of each of FutureTech and Longevity unanimously approved the transaction, which is expected to close in Q4 2024. The transaction will require the approval of the stockholders of FutureTech and Longevity and is subject to other customary closing conditions including the receipt of certain SEC regulatory approvals.
Additional information about the proposed transaction, including a copy of the BCA, will be provided in a Current Report on Form 8-K to be filed by FutureTech with the SEC and available at www.sec.gov.
Advisors
Moses & Singer LLP is acting as legal advisor to FutureTech. Nelson Mullins Riley & Scarborough LLP is acting as legal advisor to Longevity.
About Longevity
Longevity Biomedical is a biopharmaceutical company focused on advancing technologies across therapeutics, health monitoring and digital health solutions to restore tissue form and function in order to increase and improve health span. Longevity’s mission is to become a consolidator and a leading provider of products and services designed to help people live longer, healthier lives. Longevity is acquiring a differentiated therapeutic pipeline of late-stage clinical technologies across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair. Building on this platform, Longevity intends to acquire and/or partner with other health technology companies to become a leading provider of products and services designed to increase and improve health span amongst the rapidly growing aging patient population. Longevity is led by a team of industry experts and scientific advisors with significant experience acquiring, developing and commercializing cutting-edge health technologies. Longevity is headquartered in Bothell, Washington.
About FutureTech
FutureTech Capital Acquisition Corp. is a blank check company incorporated as a Delaware corporation for the purpose of effecting a business combination, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.
Additional Information and Where to Find It
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934 (“Exchange Act”) that are based on beliefs and assumptions and on information currently available to FutureTech and Longevity. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including projections of market opportunity and market share, the capability of Longevity’s business plans and the Combined Company’s business plans including their plans to expand, the sources and uses of cash from the proposed transaction, the anticipated enterprise value of the Combined Company following the consummation of the proposed transaction, any benefits of Longevity’s partnerships, strategies or plans as they relate to the proposed transaction, anticipated benefits of the proposed transaction and expectations related to the terms and timing of the proposed transaction are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although each of FutureTech and Longevity believes that it has a reasonable basis for each forward-looking statement contained in this communication, each of FutureTech and Longevity caution you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there will be risks and uncertainties described in the proxy statement/prospectus included in the registration statement on Form S-4 relating to the proposed transaction, which is expected to be filed by FutureTech with the SEC, and described in other documents filed by FutureTech or Longevity from time to time with the SEC. These filings may 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. Neither FutureTech nor Longevity can assure you that the forward-looking statements in this communication will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to complete the business combination due to the failure to obtain approval from FutureTech’s stockholders or satisfy other closing conditions in the BCA, the occurrence of any event that could give rise to the termination of the BCA, the ability to recognize the anticipated benefits of the business combination, the amount of redemption requests made by FutureTech’s public stockholders, costs related to the transaction, the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction, the outcome of any potential litigation, government or regulatory proceedings and other risks and uncertainties, including those to be included under the heading “Risk Factors” in the final prospectus for FutureTech’s initial public offering filed with the SEC on February 14, 2022 and in its subsequent quarterly reports on Form 10-Q and other filings with the SEC. There may be additional risks that neither FutureTech nor Longevity currently know or that FutureTech and Longevity currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by FutureTech, Longevity, their respective directors, officers or employees or any other person that FutureTech and Longevity will achieve their objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent the views of FutureTech and Longevity as of the date of this communication. Subsequent events and developments may cause those views to change. However, while FutureTech and Longevity may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of FutureTech or Longevity as of any date subsequent to the date of this communication.
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of FutureTech or Longevity, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.
Important Additional Information Regarding the Transaction Will Be Filed With the SEC
In connection with the proposed business combination, a registration statement on Form S-4 is expected to be filed with the SEC containing a preliminary proxy statement and a preliminary prospectus, and after the registration statement is declared effective, FutureTech will mail a definitive proxy statement/prospectus relating to the proposed business combination to its stockholders and Longevity’s stockholders. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. FutureTech’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the proposed business combination, as these materials will contain important information about Longevity, FutureTech and the proposed business combination. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of FutureTech as of a record date to be established for voting on the proposed business combination. Such stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to FutureTech II Acquisition Corp., 128 Gail Drive, New Rochelle, New York 10085, telephone number (914) 316-4805, Attention: Ray Chen, President and Chief Executive Officer.
Participants in the Solicitation
FutureTech and Longevity and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of FutureTech’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of FutureTech’s stockholders in connection with the proposed business combination will be set forth in a registration statement on Form S-4, including a proxy statement/prospectus, when it is filed with the SEC.
Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of FutureTech’s directors and officers in FutureTech’s filings with the SEC and such information will also be in the registration statement to be filed with the SEC, which will include the proxy statement/prospectus of FutureTech for the proposed transaction.
TORONTO, Sept. 20, 2024 (GLOBE NEWSWIRE) — Middlefield, on behalf of Discovery 2024 Short Duration LP (“Discovery 2024” or the “Partnership”), is pleased to announce that it has filed a final prospectus relating to the initial public offering of Discovery 2024 Class A and Class F units. The offering is being made in each of the provinces of Canada. Closing is scheduled for October 16, 2024.
The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns to limited partners, including the deductibility of 100% of their original investment. The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio comprised primarily of equity securities of Canadian gold mining companies.
Middlefield is a leading provider of flow-through share funds in Canada and has a strong track record of delivering positive after-tax returns. Since 1983, Middlefield has sponsored 69 public and private flow-through funds and has acted as agent or manager for over $2.5 billion of resource investments.
The syndicate of agents for the offering is being co-led by RBC Capital Markets and CIBC Capital Markets and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Richardson Wealth Limited, Manulife Wealth Inc., iA Private Wealth Inc., Canaccord Genuity Corp., Raymond James Ltd., Ventum Financial Corp., and Wellington-Altus Private Wealth Inc.
For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your CIRO registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.
london, Sept. 20, 2024 (GLOBE NEWSWIRE) — Agents World, an innovative Web3 AI firm, today announced the successful completion of its seed funding round, supported by leading venture capital firms including Dispersion Capital, Maelstrom Capital, Node Capital, CatcherVC, Primal Capital, and Velocity Capital.
This funding will accelerate the development of Agents World Studio, the company’s cutting-edge platform that enables developers to seamlessly build, deploy, and monetize AI agents on-chain. These intelligent agents are designed to function autonomously within a wide range of digital environments, such as Web3 gaming, DeFi, and decentralized physical infrastructure networks (DePIN), expanding the boundaries of what’s achievable in decentralized ecosystems.
Agents World aims to be the leading platform for developers and businesses seeking to harness the power of AI agents in a decentralized world. For more information, visit agentsworld.xyz.
Contact Information:
Agents World Limited Email: media@agentsworld.xyz
(This release contains forward-looking statements based on current expectations and assumptions. Actual results may vary.)
The investment portfolio of Octopus AIM VCT plc (the “Company”) as at 20 September 2024 is as follows (the valuations being the unaudited valuations, at bid price, as at 31 July 2024):
PortfolioCompany
Sector
Book cost (£’000)
Movement in valuation (£’000)
Fair Value (£’000)
Breedon Group plc
Construction & Building
859
5,316
6,175
Hasgrove plc1
Unquoted Investment
88
5,666
5,754
Judges Scientific plc
Electronic & Electrical
256
3,737
3,993
Learning Technologies Group plc
Support Services
1,051
2,288
3,339
Popsa Holdings Ltd1
Unquoted Investment
1,590
1,596
3,186
Craneware plc
Software & Computer Services
183
2,964
3,147
Mattioli Woods plc
Specialty & Other Finance
529
2,599
3,128
Brooks Macdonald Group plc
Specialty & Other Finance
746
2,287
3,033
IDOX plc
Software & Computer Services
353
2,622
2,975
GB Group plc
Software & Computer Services
505
2,360
2,865
Netcall plc
Telecommunication Services
308
2,445
2,753
Intelligent Ultrasound Group plc
Engineering & Machinery
2,156
49
2,205
PCI-Pal plc
Software & Computer Services
1,294
909
2,203
Equipmake Holdings plc
Electronic & Electrical
2,121
41
2,162
Beeks Financial Cloud Group plc
Software & Computer Services
450
1,676
2,126
Vertu Motors plc
General Retailers
1,265
639
1,904
Next Fifteen Communications Group plc
Media & Entertainment
453
1,402
1,855
Maxcyte Inc
Pharmaceuticals & Biotech
1,035
694
1,729
Diaceutics plc
Pharmaceuticals & Biotech
930
648
1,578
Animalcare Group plc
Food Producers & Processors
306
1,224
1,530
SDI Group plc
Electronic & Electrical
179.00
1,249
1,428
Pulsar Group plc
Software & Computer Services
678
515
1,193
EKF Diagnostics Holdings plc
Health
767
413
1,180
Abingdon Health plc
Medical Equipment and Services
1,615
(467)
1,148
GENinCode plc
Medical Equipment and Services
2,001
(876)
1,125
Gamma Communications plc
Telecommunication Services
274
789
1,063
Itaconix plc
Industrial
1,588
(529)
1,059
Eden Research plc
Industrial
1,620
(573)
1,047
Sosandar plc
General Retailers
1,853
(806)
1,047
Verici Dx plc
Pharmaceuticals & Biotech
1,551
(587)
964
Nexteq plc
Technology Hardware
507
429
936
Strip Tinning Holdings plc Loan Notes
Electronic & Electrical
900
–
900
Cambridge Cognition Holdings plc
Health
1,075
(216)
859
Haydale Graphene Industries plc
Chemicals
1,857
(1,025)
832
Gear4music Holdings plc
General Retailers
529
148
677
TPXimpact Holdings plc
Support Services
979
(317)
662
Oberon Investments Group plc
Investment Banking & Brokerage Services
864
(220)
644
Cranswick plc
Food Producers & Processors
606
37
643
Ricardo
Construction & Building
602
33
635
Wise
Industrial
606
7
613
Feedback plc
Software & Computer Services
1,500
(896)
604
GSK plc
Pharmaceuticals & Biotech
603
(32)
571
Ilika
Electronic & Electrical
1,058
(509)
549
DP Poland plc
Leisure & Hotels
1,016
(519)
497
Restore plc
Support Services
256
233
489
Gooch & Housego plc
Electronic & Electrical
422
60
482
RWS Holdings plc
Support Services
143
316
459
MyCelx Technologies Corporation
Oil Services
1,470
(1,014)
456
Bytes Technology Group plc
Software & Computer Services
489
(42)
447
Mears Group plc
Support Services
139
304
443
Advanced Medical Solutions Group plc
Health
284
148
432
Velocity Composites plc
Engineering & Machinery
799
(404)
395
Creo Medical Group plc
Pharmaceuticals & Biotech
1,471
(1,118)
353
Northcoders Group plc
Software & Computer Services
380
(63)
317
Alusid Limited1
Unquoted Investment
300
–
300
Crimson Tide plc
Software & Computer Services
567
(283)
284
JTC plc
Investment Banking & Brokerage Services
248
36
284
Ixico plc
Health
1,046
(794)
252
Rosslyn Data Technologies plc
Software & Computer Services
969
(759)
210
Tan Delta Systems plc
Electronic & Electrical
453
(252)
201
Libertine holdings plc
Industrial Engineering
3,000
(2,805)
195
Gelion plc
Electronic & Electrical
1,140
(951)
189
Rosslyn Data Technologies plc (convertible loan)
Software & Computer Services
180
–
180
ENGAGE XR Holdings
Software & Computer Services
1,879
(1,709)
170
KRM22 plc
Software & Computer Services
681
(511)
170
LungLife AI Inc
Pharmaceuticals & Biotech
2,079
(1,925)
154
Staffline Group plc
Industrial Support Services
334
(192)
142
Strip Tinning Holdings plc
Electronic & Electrical
506
(397)
109
XP Factory plc
Leisure & Hotels
988
(882)
106
TheraCryf plc
Pharmaceuticals, Biotechnology and Marijuana Producers
1,050
(952)
98
Enteq technologies plc
Oil Services
1,032
(960)
72
1Spatial plc
Support Services
300
(235)
65
DXS International plc
Software & Computer Services
300
(255)
45
Fusion Antibodies plc
Pharmaceuticals & Biotech
745
(717)
28
Tasty plc
Leisure & Hotels
516
(498)
18
Genedrive Plc
Pharmaceuticals & Biotech
217
(206)
11
Trackwise Designs plc
Electronic & Electrical
1,934
(1,934)
–
Cloudified Holdings Limited
Software & Computer Services
900
(900)
–
Airnow plc1
Unquoted Investment
1,257
(1,257)
–
Microsaic Systems plc
Engineering & Machinery
1,384
(1,384)
–
Rated People Ltd1
Unquoted Investment
354
(354)
–
ReNeuron Group plc
Pharmaceuticals & Biotech
1,485
(1,485)
–
Sorted Group Holdings Plc
Software & Computer Services
763
(763)
–
The British Honey Company plc
General Retailers
1,321
(1,321)
–
The Food Marketplace Ltd1
Retailers
300
(300)
–
Eluceda Limited1
Pharmaceuticals & Biotech
300
(300)
–
Since 31 July 2024 Octopus AIM VCT plc has made £1.2 million investments and £0.1 million disposals.
Unless otherwise stated, all the investments set out above:
– are not quoted on regulated markets; – represent equity investments except in the case of Osirium which include investment through loan stock; and – are in portfolio companies incorporated in the UK with the exception of:
Cloudified Holdings Limited – British Virgin Islands ENGAGE XR Holdings plc – Republic of Ireland JTC plc – Jersey LungLife AI Inc – USA MyCelx Technologies Corporation – USA Breedon Group plc – Jersey MaxCyte Inc – USA
1 Denotes unlisted company
Current Asset Investments (unaudited)
Portfolio Company
Book cost (£’000)
Fair Value (£’000)
FP Octopus Microcap Growth Fund
7,518
9,233
FP Octopus Multi Cap Income Fund
4,051
5,027
FP Octopus Future Generations Fund
1,878
1,907
JPMorgan Sterling Liquidity Fund
9,000
9,000
BlackRock ICS Sterling Liquidity Fund
9,046
9,046
HSBC Sterling Liquidity Fund
9,040
9,040
Since 31 July 2024 there has been no investments or disposals from the current asset investments.
The capitalisation of Octopus AIM VCT plc as at 31 July 2024 was as follows:
Shareholders’ Equity
£’000s
Called up Equity Share Capital
2,018
Legal reserves
18,065
Other reserves
96,300
Total
116,383
There has been no material change to the capitalisation since 31 July 2024.
NEW YORK, Sept. 20, 2024 (GLOBE NEWSWIRE) — The Board of Trustees of Tidal ETF Trust (the “Trust”) has approved a reverse stock split of the issued and outstanding shares of the SoFi Select 500 ETF (NYSE Arca: SFY) (the “Fund”). The reverse split will take effect after the close of trading on the NYSE Arca, Inc. (the “Exchange”) on October 1, 2024.
Following the reverse stock split, every five shares of the Fund will be consolidated into one share, effectively decreasing the total number of issued and outstanding shares by approximately 80%. The per-share net asset value (NAV) and the opening market price will increase proportionally by five times on the following trading day.
Details of the Reverse Stock Split:
Reverse Split Ratio: 1:5
Approximate Decrease in Total Outstanding Shares: 80%
Additionally, the Fund’s CUSIP number will change as follows, effective after the close of the market on the Effective Date:
Old CUSIP
New CUSIP
886364207
886364173
Impact on Shareholders
The reverse stock split will not alter the overall value of a shareholder’s investment. The value of an investor’s holdings in the Fund remains unchanged, even though the number of shares will decrease, and the per-share price will increase:
Shares of the Fund will begin trading on a split-adjusted basis on the Exchange on October 2, 2024.
Redemption of Fractional Shares and Tax Implications
In cases where shareholders hold fractional shares following the reverse split, the Fund will redeem those fractional shares for cash at the Fund’s split-adjusted NAV on the Effective Date. This redemption could result in tax consequences, with shareholders potentially recognizing gains or losses based on the redemption of fractional shares. However, apart from this, the reverse split will not be a taxable event for shareholders, and no transaction fees will be charged for the redemption of fractional shares.
About Tidal Financial Group
Formed by ETF industry pioneers and thought leaders, Tidal Financial Group set out to revolutionize the way ETFs have historically been developed, launched, managed, marketed, and sold. With a focus on growing AUM, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring clients ideas to market. Tidal is an advocate for ETF innovation and is on a mission to provide issuers with the intelligence and tools needed to effectively launch ETFs and optimize growth potential in a highly competitive space. As of September 1, 2024, Tidal managed 172 funds with over $19 billion in AUM.
SoFi’s mission is to empower individuals to achieve financial independence and fulfill their ambitions. Financial independence isn’t just about being wealthy; it’s about having your money work for the life you want to live. Everything SoFi does is focused on helping people take control of their finances. SoFi is always innovating and creating solutions that provide the tools and resources needed for them to reach their goals.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by visiting www.sofi.com. Please read the prospectus carefully before you invest.
Investing involves risk including loss of principal. Please visit each fund’s page for specific fund risks.
SoFi ETFs are distributed by Foreside Fund Services, LLC.
DENVER, Sept. 20, 2024 (GLOBE NEWSWIRE) — EverCommerce Inc. (Nasdaq: EVCM) (the “Company”), a leading provider of SaaS solutions for service SMBs, announced today the appointment of Alexi Wellman to its Board of Directors, effective Monday, September 23, 2024.
“We are excited to welcome Alexi to our Board of Directors,” said EverCommerce CEO and Chairman of the Board Eric Remer. “Alexi brings extensive experience in operations, financial management, accounting and audit processes and corporate governance that will serve us well in pursuing our growth strategy.”
Upon joining the EverCommerce Board, Ms. Wellman will serve on the Company’s Audit Committee, bringing substantial expertise from her roles as CEO and CFO of Altbaba, Inc., vice president of finance and global controller at Yahoo Inc., CFO of Nebraska Book Company and practicing CPA and audit partner at KPMG LLP.
Ms. Wellman also serves on the Board of Directors for public companies including ESS Tech, Inc. (NYSE: GWH) and Werner Enterprises (Nasdaq: WERN), where she is the Chair of both Boards’ Audit Committees.
“I am thrilled to join the Board of Directors at EverCommerce and apply my financial and governance experience to the Company’s mission of simplifying and empowering the lives of its SMB service business customers,” said Ms. Wellman.
Alongside this appointment, EverCommerce is also announcing that current Board member Debby Soo will be leaving the Company’s Board, effective October 31, 2024.
“The Board of Directors, EverCommerce leadership and I thank Debby for her contributions over the past three and a half years,” said Remer. “We appreciate the insight and expertise she brought to the Company.”
About EverCommerce
EverCommerce (Nasdaq: EVCM) is a leading service commerce platform, providing vertically-tailored, integrated SaaS solutions that help more than 690,000 global service-based businesses accelerate growth, streamline operations, and increase retention. Its modern digital and mobile applications create predictable, informed, and convenient experiences between customers and their service professionals. With its EverPro, EverHealth, and EverWell brands specializing in Home, Health, and Wellness service industries, EverCommerce provides end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications. Learn more at EverCommerce.com.
Investor Contact
Brad Korch SVP and Head of Investor Relations 720-796-7664 IR@evercommerce.com
SAN DIEGO, Sept. 20, 2024 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, today announced its financial results for the fiscal year ended June 30, 2024, and provided a corporate update.
“Our fiscal year 2024 was a transformational year for iBio, as we’ve solidified our business and financial position as a next-generation antibody company with a machine-learning-enabled platform for designing and developing difficult-to-drug therapeutics,” said CEO and Chief Scientific Officer Martin Brenner, Ph.D., DVM. “We made significant progress entering the fast-growing cardiometabolic and obesity space with our collaboration with AstralBio and strengthened our financial position by eliminating our debt associated with the facility and closing a fully subscribed financing including participation from Ikarian Capital, Lynx1 Capital Management, ADAR1 Capital Management, and other institutional and accredited investors. We continued to build our drug discovery platform, adding innovative technologies that are helping to advance our pipeline and provide critical support to our biopharma partners with best-in-class antibody discovery and development projects.”
Business Developments:
Expanded the AI-powered technology stack with the launch of ShieldTx™, a patent-pending antibody masking technology designed to enable specific, highly targeted antibody delivery to diseased tissue without harming healthy tissue.
In February, iBio closed the sale of its early-stage PD-1 asset to Otsuka Pharmaceutical Co., Ltd. for $1MM in upfront cash with contingent downstream payments of up to $52.5MM, a pivotal moment that showcased the power of iBio’s platform to discover best-in-class assets.
Added bispecific capabilities with its EngageTx™ technology. We advanced a Trop2 x CD3 molecule to clinical candidate selection stage by demonstrating in a humanized mouse model of squamous cell carcinoma, a significant 36 percent reduction in tumor size 14 days after tumor implantation and after a single dose. Additionally, we leveraged our EngageTx technology and Epitope Steering technology to successfully develop multiple MUC16 x CD3 molecules, which show potent cell killing against ovarian cancer cells.
Entered into a collaboration with AstralBio, Inc. to provide an exclusive license in the cardiometabolic and obesity space. iBio will develop four targets of interest with rights to license up to three of these targets prior to entering the clinic.
Corporate Developments:
At the Company’s Special Meeting of Stockholders held on November 27, 2023, iBio’s stockholders authorized a reverse stock split, with a ratio ranging from 1-for-5 to 1-for-20 (the “Range”), with the ratio within such Range to be determined at the discretion of the Board of Directors (the “Board”), and thereafter the Board approved a one for twenty (1-for-20) reverse stock split of the Company’s shares of common stock. The reverse stock split was effective November 29, 2023.
Entered into a best-efforts public offering with investors in the fiscal second quarter for gross proceeds of approximately $4.5MM before deducting placement agent fees and offering expenses
Entered into a securities purchase agreement for a private investment in public equity financing with several institutional investors and an accredited investor in the fiscal third quarter and consummated the financing in the fiscal fourth quarter for gross proceeds of approximately $15.0MM before deducting placement agent fees and offering expenses.
During the third and fourth quarters, strengthened the Company’s cash position after previously issued warrants were exercised for proceeds of approximately $4.5MM.
The Company closed the sale of its manufacturing facility located in Bryan, Texas (the “Property”) to the Board of Regents of the Texas A&M University System for $8.5MM. Following the issuance of pre-funded warrants having a value of $4.5MM to the lender, Woodforest National Bank, iBio and its wholly owned subsidiary, iBio CDMO LLC, satisfied all of the conditions of the settlement agreement releasing the Company and its subsidiary of all obligations with respect to the debt secured by the Property, which coupled with the release of approximately $915K in restricted cash previously held by Woodforest, eliminated approximately $13.2MM in secured debt from the Company’s balance sheet.
Strengthened its Board of Directors and executive leadership team through the appointments of Dr. Brenner to the Board of Directors, effective June 1, 2024, and Kristi Sarno as Senior Vice President, Business Development, effective August 8, 2024.
“We ended this fiscal year well-positioned to advance our technology to drive value for patients and shareholders,” said Chief Financial Officer Felipe Duran. “We strengthened our balance sheet through capital raises and debt extinguishment. In fiscal year 2024, we executed transactions which brought in non-dilutive funding, and we continue to pursue business development projects to strengthen our financial position.”
Financial Results:
Revenues for the fiscal year ended June 30, 2024, were approximately $0.2 million, an increase of 100% over fiscal 2023.
R&D and G&A expenses for fiscal 2024 decreased $5.1 million and $7.3 million, respectively, over the comparable period in fiscal 2023. The decrease in R&D and G&A reflects the Company’s cost savings implemented to support its growing investments in its pipeline, platform technologies, employees, and related infrastructure.
iBio’s consolidated net loss for the fiscal year ended June 30, 2024, was $24.9 million, a decreased loss of $40.1 million compared to 2023 primarily because of the decrease in expenses related to the Company’s discontinued operations and cost saving initiatives.
iBio held cash, cash equivalents and restricted cash of $14.4 million as of June 30, 2024.
As disclosed in its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, which was filed on September 20, 2024 with the Securities and Exchange Commission, the audited financial statements contained an audit opinion from its registered public accounting firm that includes an explanatory paragraph related to the Company’s ability to continue as a going concern. See further discussion in footnote 2 to the Company’s financial statements included in the Company’s Annual Report on Form 10-K. This announcement is made pursuant to NYSE American LLC Company Guide Sections 401(h) and 610(b), which requires public announcement of the receipt of an audit opinion containing a going concern paragraph.
About iBio, Inc.
iBio is an AI-driven innovator that develops next-generation biopharmaceuticals using computational biology and 3D-modeling of subdominant and conformational epitopes, prospectively enabling the discovery of new antibody treatments for hard-to-target cancers, and other diseases. iBio’s mission is to decrease drug failures, shorten drug development timelines, and open up new frontiers against the most promising targets. For more information, visit www.ibioinc.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements such as ending the fiscal year being well-positioned to advance the Company’s technology to drive value for patients and shareholders; and continuing to pursue business development projects to strengthen the Company’s financial position. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to successfully advance its technology and continue to pursue business development projects to strengthen the Company’s financial position; its ability to obtain regulatory approvals for commercialization of its product candidates, or to comply with ongoing regulatory requirements; regulatory limitations relating to its ability to promote or commercialize its product candidates for specific indications; acceptance of its product candidates in the marketplace and the successful development, marketing or sale of products; the continued maintenance and growth of its patent estate; its ability to establish and maintain collaborations and attract and increase partnership opportunities; competition; the substantial doubt exists related to the Company’s ability to operate as a going concern; its ability to raise additional capital in order to fully execute the Company’s longer-term business plans and the other factors discussed in the Company’s filings with the SEC including the Company’s Annual Report on Form 10-K for the year ended June 30, 2024. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
iBio, Inc. and Subsidiaries Consolidated Statements of Operations and Comprehensive Loss (In Thousands, except per share amounts)
Years Ended
June 30,
2024
2023
Revenues
$
225
$
—
Operating expenses:
Research and development
5,185
10,327
General and administrative
11,674
19,016
Total operating expenses
16,859
29,343
Operating loss
(16,634
)
(29,343
)
Other income (expense):
Interest expense
(172
)
(83
)
Interest income
363
213
Loss on sales of debt securities
—
(98
)
Gain on sale of intellectual property
1,000
—
Total other income
1,191
32
Net loss from continuing operations
(15,443
)
(29,311
)
Loss from discontinued operations
(9,464
)
(35,699
)
Net loss
$
(24,907
)
$
(65,010
)
Comprehensive loss:
Consolidated net loss
$
(24,907
)
$
(65,010
)
Other comprehensive loss – unrealized gain on debt securities
—
180
Other comprehensive income – foreign currency adjustment
—
33
Comprehensive loss
$
(24,907
)
$
(64,797
)
Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – continuing operations
$
(4.03
)
$
(47.88
)
Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – discontinued operations
$
(2.47
)
$
(58.31
)
Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – total
$
(6.50
)
$
(106.19
)
Weighted-average common shares outstanding – basic and diluted
3,831
612
iBio, Inc. and Subsidiaries
Consolidated Balance Sheets (In Thousands, except share and per share amounts)
June 30, 2024
June 30, 2023
Assets
Current assets:
Cash and cash equivalents
$
14,210
$
4,301
Restricted cash
—
3,025
Subscription receivable
—
204
Promissory note receivable and accrued interest
713
—
Prepaid expenses and other current assets
749
664
Current assets held for sale (see Note 3 – Discontinued Operations)
—
18,065
Total Current Assets
15,672
26,259
Restricted cash
215
253
Promissory note receivable
1,081
1,706
Finance lease right-of-use assets, net of accumulated amortization
339
610
Operating lease right-of-use asset
2,401
2,722
Fixed assets, net of accumulated depreciation
3,632
4,219
Intangible assets, net of accumulated amortization
5,368
5,388
Security deposits
26
50
Total Assets
$
28,734
$
41,207
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$
358
$
1,849
Accrued expenses
2,028
4,561
Finance lease obligations – current portion
299
272
Operating lease obligation – current portion
436
389
Equipment financing payable – current portion
178
160
Term promissory note – current portion
218
—
Insurance premium financing payable
123
—
Term note payable – net of deferred financing costs
—
12,937
Contract liabilities
200
—
Current liabilities related to assets held for sale
—
1,941
Total Current Liabilities
3,840
22,109
Finance lease obligations – net of current portion
53
351
Operating lease obligation – net of current portion
2,688
3,125
Equipment financing payable – net of current portion
63
241
Term promissory note – net of current portion
766
—
Total Liabilities
7,410
25,826
Stockholders’ Equity
Series 2022 Convertible Preferred Stock – $0.001 par value; 1,000,000 shares authorized at June 30, 2024 and June 30, 2023; 0 shares issued and outstanding as of June 30, 2024 and June 30, 2023
—
—
Common stock – $0.001 par value; 275,000,000 shares authorized at June 30, 2024 and June 30, 2023; 8,623,676 and 1,015,505 shares issued and outstanding as of June 30, 2024 and June 30, 2023, respectively
BROOKFIELD, NEWS, Sept. 20, 2024 (GLOBE NEWSWIRE) — Brookfield Corporation (NYSE: BN, TSX: BN) today announced that after having taken into account all election notices received by the deadline for the conversion of its Cumulative Class A Preference Shares, Series 40 (the “Series 40 Shares”) (TSX: BN.PF.F) into Cumulative Class A Preference Shares, Series 41 (the “Series 41 Shares”), there were 29,920 Series 40 Shares tendered for conversion, which is less than the one million shares required to give effect to conversion into Series 41 Shares. Accordingly, there will be no conversion of Series 40 Shares into Series 41 Shares and holders of Series 40 Shares will retain their Series 40 Shares.
About Brookfield Corporation
Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.
We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).
MIAMI, FL and KANSAS CITY, KS, Sept. 20, 2024 (GLOBE NEWSWIRE) — Clover Leaf Capital Corp. (Nasdaq: CLOE) (“CLOE” or “Clover Leaf”), a publicly traded special purpose acquisition company, and Digital Ally, Inc. (Nasdaq: DGLY) (“Digital Ally”) today announced that on September 20, 2024, Clover Leaf convened and then adjourned, without conducting other business, its special meeting of its stockholders in lieu of its 2024 Annual Meeting of Stockholders (the “Meeting” ) to 10:00 a.m., Eastern Time on Friday, September 27, 2024. At the meeting, stockholders of Clover Leaf will be asked to vote on proposals to approve, among other things, its proposed initial business combination (the “Business Combination”) with Kustom Entertainment, Inc., a Nevada corporation (“Kustom Entertainment” or the “Company”), pursuant to an Agreement and Plan of Merger (as amended, the “Merger Agreement”), by and among Clover Leaf, CL Merger Sub, Inc., a Nevada corporation and a wholly-owned subsidiary of Clover Leaf (“Merger Sub”), Yntegra Capital Investments LLC, a Delaware limited liability company, in the capacity as the Purchaser Representative (as defined in the Merger Agreement) and Digital Ally, Inc., a Nevada corporation and the sole stockholder of the Company (“Digital Ally”). There is no change to the location, the record date, the purpose or any of the proposals to be acted upon at the Meeting.
As a result of this change, the Meeting will now be held at 10:00 a.m. Eastern Time on Friday, September 27, 2024 via the live webcast at https://www.cstproxy.com/cloverlcc/bc2024. Also as a result of this change, the deadline for holders of Clover Leaf’s Class A common stock issued in Clover Leaf’s initial public offering to submit their shares for redemption in connection with the Business Combination, is being extended to 5:00 p.m. Eastern Time on Wednesday, September 25, 2024. The record date for Clover Leaf’s stockholders to vote in the Meeting remains July 24, 2024.
Clover Leaf plans to continue to solicit proxies from stockholders during the period prior to the Meeting. Only the holders of the Clover Leaf’s common stock as of the close of business on July 24, 2024, the record date for the Meeting, are entitled to vote at the Meeting.
If any Clover Leaf stockholder has any questions or need assistance, such stockholder should (i) reach out to his, her or its broker or (ii) contact Morrow Sodali LLC, Clover Leaf’s proxy solicitor, for assistance via e-mail at CLOE.info or toll-free call at 800-662-5200. Banks and brokers can place a collect call to Morrow Sodali LLC at 203-658-9400 or email at CLOE.info@investor.morrowsodali.com.
About Kustom Entertainment, Inc.
Kustom Entertainment, Inc., a recently formed wholly-owned subsidiary of Digital Ally, will provide oversight to currently wholly-owned subsidiaries TicketSmarter, Kustom 440, and BirdVu Jets.
TicketSmarter offers tickets to more than 125,000 live events ranging from concerts to sports and theatre shows. TicketSmarter is the official ticket resale partner of over 35 collegiate conferences, over 300 universities, and hundreds of events and venues nationally. TicketSmarter is a primary and secondary ticketing solution for events and high-profile venues across North America. For more information on TicketSmarter, visit www.Ticketsmarter.com.
Established in late 2022, Kustom 440 is an entertainment division of Kustom Entertainment, Inc., whose mission it is to attract, manage and promote concerts, sports and private events. Kustom 440 is unique in that it brings a primary and secondary ticketing platform, in addition to its well-established relationships with artists, venues, and municipalities. For more information on Kustom 440, visit www.Kustom440.com.
Kustom Entertainment operates through its wholly-owned subsidiaries TicketSmarter, Inc. (“TicketSmarter”), Kustom 440, Inc. (“Kustom 440”), and BirdVu Jets, Inc. (“BirdVu Jets”). Following the closing of the Business Combination, TicketSmarter, Kustom 440, and BirdVu Jets will combine their management teams and focus on concerts, entertainment and garnering additional ticketing partnerships, as well as using existing sponsorships and sports property partnerships to develop alternative entertainment options for consumers.
About Clover Leaf Capital Corp.
Clover Leaf Capital Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1955. These forward-looking statements include, without limitation, CLOE’s and Kustom Entertainment’s expectations with respect to the proposed business combination between CLOE and Kustom Entertainment, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the implied valuation of Kustom Entertainment, the products offered by Kustom Entertainment and the markets in which it operates, and Kustom Entertainment’s projected future results. Words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions are intended to identify such forward-looking statements. 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 significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside CLOE’s and Kustom Entertainment’s control and are difficult to predict. Factors that may cause actual future events to differ materially from the expected results, include, but are not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of CLOE’s securities, (ii) the risk that the transaction may not be completed by CLOE’s business combination deadline, even if extended by its stockholders, (iii) and the potential failure to obtain an extension of the business combination deadline if sought by Clover Leaf; (iv) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the agreement and plan of merger (“Merger Agreement”) by the stockholders of CLOE, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vi) the failure to obtain any applicable regulatory approvals required to consummate the business combination; (vii) the receipt of an unsolicited offer from another party for an alternative transaction that could interfere with the business combination, (viii) the effect of the announcement or pendency of the transaction on Kustom Entertainment’s business relationships, performance, and business generally, (ix) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the post-combination company to grow and manage growth profitability and retain its key employees, (x) costs related to the business combination, (xi) the outcome of any legal proceedings that may be instituted against Kustom Entertainment or CLOE following the announcement of the proposed business combination, (xii) the ability to maintain the listing of CLOE’s securities on the Nasdaq prior to the business combination, (xiii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities, (xiv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Kustom Entertainment operates, (xv) the risk that demand for Kustom Entertainment’s services may be decreased due to a decrease in the number of large-scale sporting events, concerts and theater shows, (xvi) the risk that any adverse changes in Kustom Entertainment’s relationships with buyer, sellers and distribution partners may adversely affect the business, financial condition and results of operations, (xvii) the risk that Changes in Internet search engine algorithms and dynamics, or search engine disintermediation, or changes in marketplace rules could have a negative impact on traffic for Kustom Entertainment’s sites and ultimately, its business and results of operations; (xviii) the risk that any decrease in the willingness of artists, teams and promoters to continue to support the secondary ticket market may result in decreased demand for Kustom Entertainment’s services; (xix) the risk that Kustom Entertainment is not able to maintain and enhance its brand and reputation in its marketplace, adversely affecting Kustom Entertainment’s business, financial condition and results of operations, (xx) the risk of the occurrence of extraordinary events, such as terrorist attacks, disease epidemics or pandemics, severe weather events and natural disasters, (xxi) the risk that because Kustom Entertainment’s operations are seasonal and its results of operations vary from quarter to quarter and year over year, its financial performance in certain financial quarters or years may not be indicative of, or comparable to, Kustom Entertainment’s financial performance in subsequent financial quarters or years; (xxii) the risk that periods of rapid growth and expansion could place a significant strain on Kustom Entertainment’s resources, including its employee base, which could negatively impact Kustom Entertainment’s operating results; (xxiii) the risk that Kustom Entertainment may never achieve or sustain profitability; (xxiv) the risk that Kustom Entertainment may need to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (xxv) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations, (xxvi) the risk that Kustom Entertainment is unable to secure or protect its intellectual property, (xxvii) the risk that the post-combination company’s securities will not be approved for listing on Nasdaq or if approved, maintain the listing and (xxviii) other risks and uncertainties indicated from time to time in the proxy statement and/or prospectus relating to the business combination, including those under the “Risk Factors” section therein and in CLOE’s other filings with the SEC. The foregoing list of factors is not exhaustive. 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 Kustom Entertainment and CLOE assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Important Information and Where to Find It
In connection with the transaction, CLOE has filed the Registration Statement with the SEC, which includes a proxy statement to be distributed to holders of CLOE’s common stock in connection with CLOE’s solicitation of proxies for the vote by CLOE’s stockholders with respect to the transaction and other matters as described in the Registration Statement, as well as a prospectus relating to the offer of the securities to be issued to Kustom Entertainment’s stockholder in connection with the transaction. Before making any voting or investment decision, investors and security holders and other interested parties are urged to read the Registration Statement, any amendments thereto and any other documents filed with the SEC carefully and in their entirety because they contain important information about CLOE, Kustom Entertainment and the transaction. Investors and security holders may obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by CLOE through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: 1450 Brickell Avenue, Suite 2520, Miami, FL 33131.
Participants in Solicitation
CLOE and Kustom Entertainment and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the transaction. Information about the directors and executive officers of CLOE is set forth in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on March 22, 2024. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, are included in the proxy statement/ prospectus and other relevant materials to be filed with the SEC regarding the transaction. Stockholders, potential investors and other interested persons should read the proxy statement/prospectus carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, or an exemption therefrom.
Source: United States House of Representatives – Congresswoman Carol Miller (R-WV)
Washington D.C. – Today, Congresswoman Carol Miller (R-WV) spoke at a Ways and Means digital trade hearing focused on protecting American innovation by establishing and enforcing strong digital trade rules.
Congresswoman Miller began her remarks by explaining how specific Korean digital policies, if passed, will end up harming U.S. businesses and threaten our national security in the Indo-Pacific.
“Korea may soon pass online platform laws and regulations that would make it difficult for U.S. companies to operate in their country. I am very concerned that such an important, strategic ally like the Republic of Korea is pursuing economic policies that target and discriminate against U.S. technology companies while welcoming state-owned Chinese companies with open arms. Chinese firms are the fastest growing tech companies in Korea, with many leveraging strategic partnerships with Korean monopolies who have a strong influence in Korea’s legislature. I am very concerned about the national security implications of Korea’s ill-advised economic discrimination and would urge them not to go down this path, and instead, continue our important technology partnership and the goals established in our free trade agreement. Our trade agreement with Korea is the second largest Free Trade Agreement (FTA) by trade flows, second only to the United States-Mexico-Canada Agreement (USMCA). It is extremely concerning to me that our two biggest FTAs are both facing obstacles in the world of digital trade,” said Congresswoman Miller.
Congresswoman Miller asked the President of Information Technology and Innovation Foundation (ITIF), Robert D. Atkinson, how China will benefit from the Korean digital policies and how this will affect the United States regarding the economy and national security.
“Can you explain how China wins if Korea pursues economic discrimination policies against the United States and why are Chinese firms seeking to drastically increase their Korean userbase? Do you believe that Korea is assisting them in their growth?” asked Congresswoman Miller.
“Last time I was there [in Korea], I tried to use google maps to figure out where to go and I couldn’t. I could use a Korean app company and they say it’s national security. It has nothing to do with national security. It’s the fact that they wanted to favor their own domestic map companies, their own domestic players. That’s what they’re doing now by copying the European Digital Markets Act (DMA) and what they want to do is they want to be able to pass a law that would require American companies to turn over data to be interoperable to do other kinds of things that would benefit Korean companies. But they can’t write the law so blatantly that it admits that, so it would benefit Korean companies, but it would also benefit Chinese companies. They’re willing to make that trade-off because they think it’s going to benefit their companies more, and it’ll hurt our companies. This will benefit Chinese companies and make them stronger. I would put Korea again in the same categories as I’d put Canada. They need us a lot more than we need them. They’re dependent upon us not just for military, but they’re so focused right now on building technology partnerships. They want technology partnerships with us and we’re going ahead and saying “yes,” but I think there must be a quid pro quo with that. Yeah, we want technology partnerships with you so we can both be stronger against the Chinese, but we’re not going to do partnerships with you if you do these kinds of discriminatory things,” responded Dr. Atkinson.
“What are the national security concerns related to U.S. foreign policy in the Indo-Pacific should the U.S. be less economically tied to our strategic ally as they grow closer to China?” asked Congresswoman Miller.
“So, the fundamental question I think in, in the Indo-Pacific is, are these countries going to gradually move over into the China orbit or are they going to stay in the Western democratic market orbit? The Koreans don’t want to pick. They want to have really close relationship with the Chinese because they know Chinese are predatory and retaliatory. They will hurt the Korean companies. They’ve done that before, but we need to let them know that they can’t have it both ways. They have to pick. We’re their defender. They need to be on the side of the allies and democracy, so I think it’s a critical, critical issue that we make them choose and choose us,” responded Dr. Atkinson.
White Oak River, North Carolina: Wetlands like these are useful for preventing floods, reducing erosion, and preserving biodiversity. But every wetland is unique, and it is important to understand the impacts of climate on a local level.
Credit: Norm Lane/Shutterstock
GAITHERSBURG, Md. — The U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) has entered into a cooperative agreement with the University of Vermont (UVM) to establish a Climate Measurements Center of Excellence. The agreement includes an award of $2.7 million appropriated by Congress for this purpose and was made following a competitive process announced earlier this year.
“Our goal is to advance trust in measurements and technology in service to the nation. Effective measurements are key to understanding the dynamics of complex climate systems, and this center of excellence can amplify our impact and enable the development of equitable climate adaptation plans,” said Chuck Romine, the associate director for laboratory programs at NIST.
Climate impacts are felt differently from one region of the U.S. to another, and for communities to develop adaptation plans, they need more granular information than is currently available. The Climate Measurements Center of Excellence will support communities by providing standards frameworks, regional data, and the tools communities need to make decisions.
Climate impacts at the community level are expected to be diverse, complex and interrelated. Examples of possible impacts include diminished agricultural productivity, poor air quality, increased food costs, supply chain and commercial logistics disruptions, and public health issues. Preparing for and mitigating these impacts could be challenging for any one community alone. Therefore, the center will bring local climate researchers together to share resources and ideas and will serve as a hub for stakeholders including government climate offices, universities, nonprofits, industry and NIST.
The new center of excellence will establish and coordinate research teams that combine resources from the physical, biological and social sciences. It will also support the development of national standards and measurements for tracking hazards and risks associated with climate impacts. Throughout the three-year funding period, NIST will support the center through leadership, collaboration and community coordination.
DFS drives expansion of digital payments in India and abroad Digital payment transactions volume grew to 18,737 crore in FY 2023-24 from 2,071 crore in FY 2017-18 at Compounded Annual Growth Rate (CAGR) of 44%; with value of transactions at ₹3,659 lakh crore in FY23-24 from ₹1,962 lakh crore in FY17-18 at CAGR of 11%
UPI transactions volume grew to 13,116 crore in FY 2023-24 from 92 crore in FY 2017-18 at CAGR of 129%; with value of UPI transactions reaching ₹200 lakh crore trillion in FY23-24 from ₹1 lakh crore in FY17-18 at CAGR of 138%
UPI now seamlessly facilitates live transactions in 7 countries, including key markets such as UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius
Posted On: 20 SEP 2024 3:31PM by PIB Delhi
The Department of Financial Services (DFS), Ministry of Finance, plays a critical role in driving the promotion of digital payments in the country.
Efforts to accelerate the adoption of fast payment system like the Unified Payments Interface (UPI) has revolutionised the way financial transactions are conducted, enabling real-time, secure, and seamless payments for millions.
This initiative aligns with the Government’s vision of a cashless and inclusive economy, empowering every citizen in their financial decision.
In comparison with previous fiscal years, the digital payments landscape has demonstrated remarkable expansion in Financial Year (FY) 2023-24. Key insights include:
Growth in Digital Payment Transactions:
Digital payments in India have witnessed significant growth, with the total number of digital payment transactions volume increased from 2,071 crore in FY 2017-18 to 18,737 crore in FY 2023-24 at Compounded Annual Growth Rate (CAGR) of 44%. Furthermore, during the last 5 months (April-August) of the current financial year 2024-25, the transaction volume has reached to 8,659 crore.
Source: RBI, NPCI & Banks
The value of transactions has grown from ₹1,962 lakh crore to ₹3,659 lakh crore at CAGR of 11%. Additionally, in the last 5 months (April-August) of the current financial year 2024-25, the total transaction value has surged to an impressive ₹1,669 lakh crore.
Source: RBI, NPCI & Banks
UPI’s Continued Success:
UPI remains the cornerstone of India’s digital payment ecosystem. UPI has revolutionised digital payments in the country, UPI transactions have grown from 92 crore in FY 2017-18 to 13,116 crore in FY 2023-24 at CAGR of 129%. Furthermore, during the last 5 months (April-August) of the current Financial Year 2024-25, the transaction volume has reached 7,062 crore.
The ease of use facilitated by growing network of participating banks and fintech platforms, has made UPI the most preferred mode of real-time payments for millions of users across the country.
Source: NPCI
The value of UPI transactions has grown from ₹1 lakh crore to ₹200 lakh crore at CAGR of 138%. Additionally, in the last 5 months (April-August FY2024-25), the total transaction value has surged to an impressive ₹101 lakh crore.
Source: NPCI
UPI: P2M and P2P Transactions (by Volume in crore) for Aug 2024
The contribution of P2M transactions reached 62.40% in Aug’ 2024, where 85% of these transactions are up to a value of ₹500. This indicates the trust that UPI enjoys among citizens for making low value payments.
UPI and RuPay Global Expansion:
India’s digital payments revolution is extending beyond its borders. Both UPI and RuPay are rapidly expanding globally, enabling seamless cross-border transactions for Indians living and traveling abroad. Presently, UPI is live in 7 countries, including key markets such as UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, allowing Indian consumers and businesses to make and receive payments internationally. This expansion will further bolster remittance flows, improve financial inclusion, and elevate India’s stature in the global financial landscape. As per ACI Worldwide Report 2024, in 2023 around 49% of the global real-time payment transactions is happening in India.
India is rapidly emerging as a global leader in digital payments. With UPI’s global expansion and the continued rise of digital transactions, India is setting new benchmarks for financial inclusion and economic empowerment of common citizen.
Department of Financial Services remains committed to advancing digital payment solutions that are secure, scalable, and inclusive, while also exploring new avenues to strengthen India’s position in the global financial ecosystem.
Department of Posts played a pioneering role in distributing toolkits to beneficiaries under the PM Vishwakarma Scheme, first in Mahesana district of Gujarat Postmaster General Shri Krishna Kumar Yadav reviews Progress of Postal Services in Mahesana Division, Emphasised achievement of targets
Not Just Letters and Parcels, the Department of Posts is Connecting People with Various Government Welfare Schemes at door step – Postmaster General Shri Krishna Kumar Yadav
Department of Posts Plays a Key Role in Delivering Toolkits to Artisans/Beneficiaries under the PM Vishwakarma Scheme – Postmaster General Krishna Kumar Yadav
Posted On: 20 SEP 2024 3:56PM by PIB Ahmedabad
In addition to delivering letters and parcels, Department of Posts is now ensuring that various government welfare schemes and their benefits reach to all citizens. Department of Posts has access to last mile of the country and is equally involved in the joys and sorrows of the people. Postmaster General, North Gujarat Region, Shri Krishna Kumar Yadav, expressed these views during his visit to the Mahesana Head Post Office on 20th sepetember 2024. Under the campaign ‘Ek Ped Maa ke Naam’, tree plantation was conducted at the Mahesana Head Post Office to spread the message of environmental protection. Superintendent of Post Offices, Mahesana Division Shri H.C. Parmar welcomed the Postmaster General and provided detailed information about the progress of postal services in Mahesana.”
Postmaster General Shri Krishna Kumar Yadav delivered a cheque for ₹10 lakh as a claim payment to the family of Shri Babubhai Rabari from Mahesana, who had taken the Tata Group’s accident insurance policy for just ₹399 through India Post Payments Bank, after his untimely death.
Postmaster General Shri Krishna Kumar Yadav added that the Department of Posts is also playing a vital role in the PM Vishwakarma Scheme. Under this scheme, toolkits are being provided to artisans/beneficiaries through the Department of Posts. Department of Posts led by distributing the first toolkit in the country to Shri Rameshbhai Babubhai Senma, a resident of Jagannathpura village in the Mahesana Postal Division, North Gujarat Region.
Shri Krishna Kumar Yadav told that the PM Vishwakarma Scheme has been launched by the Ministry of Micro, Small, and Medium Enterprises (M/o MSME) for the upliftment of traditional artisans and craftsmen engaged in various trades like blacksmithing, goldsmithing, pottery, carpentry, and sculpting, among others. The aim is to preserve cultural heritage and integrate these artisans into the formal economy and global value chains. The scheme is being implemented through the National Small Industries Corporation (NSIC). Toolkits for 18 identified trades under this scheme will be distributed to artisans/beneficiaries through post offices. The Department of Posts is the logistics partner for the Ministry of MSME in this scheme and will ensure the smooth transportation and delivery of toolkits to beneficiaries across the country.
Postmaster General Shri Krishna Kumar Yadav conducted a detailed review of the progress of postal services in the Mahesana Division. Currently, there are a total of 6.77 lakhs savings accounts, 79,000 IPPB accounts, 66,000 Sukanya Samriddhi accounts, and 4,000 Mahila Samman Savings Certificates opened in Mahesana Division. Additionally, 61 villages have been covered as ‘Sampoorna Sukanya Samriddhi Grams,’ 100 villages covered as Sampoorna Bima Grams,’ and 5 villages designated as Five-Star Villages. Through the Passport Seva Kendra at the Mahesana Head Post Office, more than 7,015 people have obtained passports in this financial year. 14,000 people have enrolled or updated their Aadhaar through the post office, while 70,000 people have benefited from CELC through India Post Payments Bank. More than 69,000 individuals received payments totaling ₹22.4 crore through the Aadhaar Enabled Payment System at door step.
During his visit to the Mahesana Head Post Office, Shri Krishna Kumar Yadav emphasized the importance of good behavior towards customers. Postmaster General emphasized the importance of conducting extensive campaigns and Dak Chaupals in the remaining days of the financial year to achieve the allocated targets for various services. He also highlighted the need to connect the citizens with these services, ensure prompt resolution of public grievances, and responsiveness towards customers.
During this visit, Superintendent of Post Offices Shri H.C. Parmar, Assistant Superintendent Shri R.M. Rabari, Shri N.K. Parmar, Shri Vishal Brahmbhatt, IPPB Branch manager Shri J. Rohit and Postmaster, Mahesana HO Shri D G Patel were present.
WASHINGTON — On Friday, six public-interest, media-reform, media-justice, and labor organizations joined to file an amicus curiae brief defending the Federal Communications Commission’s broadcast ownership rules against an industry challenge in the Eighth Circuit Court of Appeals.
The six groups are Common Cause, the Communications Workers of America-National Association of Broadcast Employees and Technicians, Free Press, the Future of Music Coalition, the musicFIRST Coalition, and the United Church of Christ Office of Communication, Inc. (“UCC Media Justice”). All of these entities have long participated in FCC proceedings and court cases on this issue. Attorneys Cheryl Leanza and Rachel Stillwell authored and filed the brief on the groups’ behalf.
The FCC’s media-ownership rules are designed to promote competition, viewpoint diversity, ownership diversity, and the delivery of local content by broadcast stations licensed to serve communities all across the United States. A series of deregulatory decisions the agency has made over the last two decades has significantly pared back these rules. The FCC undergoes a congressionally mandated review of these regulations every four years.
Prior legal challenges from both industry groups and public-interest organizations have played out in the Third Circuit Court of Appeals. This time, the broadcast industry brought its suit in a different circuit. Broadcasting conglomerates and the trade groups representing them argue that the Biden FCC should eliminate more of the few ownership limits that remain on the books.
As today’s amicus brief explains, broadcast lobbyists suggest that their businesses should no longer be regulated because people already have access to the same kinds of content on the internet. The broadcasters’ assertion, the brief says, would “leave out of the picture the many Americans who do not fit their vision of a life lived completely online, consuming only national news and culture.” As the filing notes, millions of people in the United States still need to or choose to rely primarily on free broadcasting services for local news, cultural content, and emergency information that broadcast outlets distribute more reliably than internet sources.
Free Press Vice President of Policy and General Counsel Matt Wood said:
“As always, the broadcast industry wants to have its cake and eat it too. Lawyers for giant media conglomerates argue that free and over-the-air local broadcasting remains a unique and special service, yet also insist that their industry should be completely unfettered from any common-sense ownership limits because of competition from internet sources. They can’t have it both ways. For broadcasting to remain a source of diverse and truly local content—serving populations that national and homogenized news sources so often ignore—the Federal Communications Commission must retain its rules preventing a single company from dominating the airwaves or owning quite literally every broadcast outlet in the same city.”
United Church of Christ Media Justice Ministry Policy Advisor Cheryl Leanza said:
“Broadcast media is unique: Local television engenders more trust, more local news, and thus more local engagement on everything from elections to community needs. Local radio is an important means to preserve and enliven local culture. Previous FCC decisions permitting vast consolidation have been disastrous—for the court to reverse the most recent FCC decision to keep the remaining rules and close loopholes would be even more so. In line with multiple other federal court decisions, the Eighth Circuit should reject any hint that each iteration of the quadrennial-review process mandates further consolidation.”
Common Cause Director for Media and Democracy Ishan Mehta said:
“In this era of media consolidation, we need local television and radio stations to provide a much-needed avenue for the public to hear diverse voices as they seek to make informed decisions at the ballot box. When media outlets are owned by a small number of corporations, it narrows the available perspectives and stifles the investigative journalism that our democracy depends on. We ask the court to preserve the FCC’s role in protecting diversity and furthering competition to ensure a healthy media ecosystem for all Americans.”
NABET-CWA President Charlie Braico said:
“Locally owned broadcast television and radio stations and the jobs they create are critical to the well-being of our communities. Consolidation in the media industry and Wall Street’s downsizing and stripping of local news operations for profits, along with the ‘narrowcasting” of information on the internet, has left Americans more isolated and divided than ever. The FCC’s ability to enforce local broadcast ownership rules is critical to preventing further harm.”
Future of Music Coalition Director Kevin Erickson said:
“Radio is a medium uniquely equipped to uplift the voices of diverse local communities expressed through diverse American musical traditions. Sadly, as we’ve seen over the years, ownership consolidation has empowered large companies and private equity firms to move away from the live and local emphasis that makes AM/FM radio special, replacing regional character with narrow formats and repetitive playlists presented by robots. We’re proud to join with a diverse array of groups in defending the FCC’s important role in protecting ownership diversity and healthy competition.”
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About CWA: The Communications Workers of America represents working people in telecommunications, customer service, media, airlines, health care, public service and education, manufacturing, tech, and other fields.
The 2024 Enabling Native Researchers and Other Minorities Through Graduate Engineering (ENRGE) internship cohort. From left, Javier Moscoso, Chelsea Neely, Success Oluwole, Adrian Gomez, Zain ulAbdeen, and Danish Saleem. Photo by Josh Bauer, NREL
Internships offer students the opportunity to gain valuable experience in their field before joining the workforce—but for interns at the National Renewable Energy Laboratory (NREL), they have the added motivation of contributing to meaningful work in energy efficiency and renewable energy. For interns in the Enabling Native Researchers and Other Minorities Through Graduate Engineering (ENRGE) program, undergraduate and graduate students at minority-serving institutions gain valuable experience in power, energy, and cybersecurity. It is funded by the U.S. Department of Energy National Nuclear Security Administration’s Minority Serving Institution Partnership Program, which aims to create and support a sustainable career pathway that prepares a diverse workforce of talented students to make immediate and significant contributions in science, technology, engineering, and mathematics (STEM) fields.
ENRGE brings undergraduate and graduate students enrolled at minority-serving institutions with underrepresented backgrounds—such as Native, Black, Asian, Hispanic, and Latino Americans—to NREL for hands-on summer internships. The interns work on research projects that look at how human or natural threats may disrupt the U.S. electrical grid, assess the cybersecurity of distributed energy systems, or research pathways to strengthen the U.S. electrical grid.
“Many companies and teams look forward to new pools of student interns, as they’ll bring with them fresh ideas, new perspectives, and creative approaches to the projects or processes,” said NREL’s Danish Saleem, senior engineer and ENRGE program leader.
This past summer, JavierMoscoso, Adrian Gomez, ZainulAbdeen, and Success Oluwole participated in NREL’s second ENRGE summer internship program.
“We were fortunate to have Javier, Zain, Adrian, and Success this year at NREL,” Saleem said. “Their exceptional work, dedication, and contributions toward NREL’s clean energy goals was invaluable.”
Making the Personal Universal
Javier Moscoso. Photo by Josh Bauer, NREL
For Javier Moscoso, energy and climate issues hit home—that is, they affect him and all the people of Puerto Rico. “It’s a personal mission,” Moscoso said.
Hurricanes Maria and Fiona wreaked havoc on Puerto Rico in 2017 and 2022. Fiona knocked out power for 80% of the island’s customers who depended on an already fragile power system. Moscoso has witnessed the damage the hurricanes—and the loss of power—cause. He spoke with a woman using an oxygen tank earlier in 2024 about issues she faced when power goes away. She died following a power outage this summer. “I’m talking because I live this,” he said.
The ENRGE internship allows Moscoso to work on important cybersecurity projects, but it also allows him to talk with NREL people—like Laboratory Director Martin Keller, who Moscoso met with earlier this summer—about the issues Puerto Rico faces. “Not having a strong cybersecurity background before coming here, I have felt comfortable with my team, and I was always eager to learn more and get out of my comfort zone,” Moscoso said. “It gives me the opportunity to test out what I like and see new things that I maybe didn’t think I would ever like or work with. I have come to familiarize myself with cybersecurity and how crucial it is in power systems today. If I’m honest, I have come to appreciate how impactful this experience will be for my future. I think there is no better place than NREL to be exposing myself to this through many readings, workshops, and conversations with mentors. I look forward to continue learning and contributing in the best way I can.”
Moscoso’s work at NREL involves looking at the cybersecurity of utility-scale batteries and distributed energy resources (DER) deployment for underserved communities on separate projects. He completed a literature review on the cybersecurity of DERs, and his background informed the case studies he wrote on Puerto Rico. “It’s my opportunity to give visibility to Puerto Rican communities,” he said.
Moscoso said that there is intention to everything he does, which is why the ENRGE internship was enticing. It allowed him to bring his personal story and experience to NREL, which he will then take back to Puerto Rico. Encouraged by his time at NREL and with ENRGE, he will begin graduate school in Puerto Rico, where part of his time will be spent continuing a renewable energy project he began before coming to NREL.
Prior to arriving at NREL, Moscoso engaged other students on the design and architecture of a solar gazebo to be constructed at the University of Puerto Rico at Mayagüez. The gazebo will provide power on campus for students in the event of an outage. Moscoso has presented on this project at NREL and to many national outlets. The project includes an educational component where talks will be given on renewable energy and energy consumption.
What started as a napkin drawing is morphing into a reality that will benefit other Puerto Ricans, and Moscoso hopes that this first gazebo can be replicated across the island.
“Javier serves as an excellent example of someone who took full advantage of the networking and professional development opportunities that NREL and the ENRGE internship offered,” said NREL’s Chelsea Neely, cybersecurity researcher and ENRGE program coordinator. “Almost every week, he came to me to tell me who he met at NREL and what research and development opportunities he was excited about. We are so proud of the impact he has made here at NREL and can’t wait to see him continue his mission towards clean energy transformation.”
Exploring a New Career Pathway
Adrian Gomez. Photo by Josh Bauer, NREL
The path to NREL was not a straight line for Adrian Gomez. From the U.S. Army to education in criminal justice, his background was outside of energy. When Gomez decided that the criminal justice route was not what he wanted, he enrolled in the Ecotech Institute to learn about sustainable technologies.
Then the school closed permanently.
Gomez returned to criminal justice briefly before he learned about ENRGE. When he found the ENRGE internship opportunity at NREL, it felt like a fit. “It’s the right choice,” he said. “Everything led up to this. This is something I can do.”
At NREL, Gomez brings a cybersecurity background to the Clean Energy Cybersecurity Accelerator—which aims to expedite the deployment of novel or emerging operational technology security solutions—and learned from researchers involved in the cybersecurity situational awareness tool designed for renewable energy systems. For the Clean Energy Cybersecurity Accelerator, Gomez researched cyberattack scenarios involving solar panels and what types of attacks might cause disruptions.
“It’s interesting to see how everything is interconnected—how everything in a system affects everything else,” Gomez said. Researching cybersecurity has made Gomez hyperaware of cybersecurity concerns. He is paying attention to what is happening in the world in that regard. “I’m vigilant about those interconnections and how my role in cybersecurity is involved in that sphere.”
Following the ENRGE internship, Gomez will return to school to pursue a master’s degree in cybersecurity.
“For someone new to research, Adrian embraced the uncomfortable, often nonlinear path his research took him down this summer,” Neely said. “I was impressed with his ability to take on new concepts and come away from this experience with research he felt proud of. With the encouragement of researchers at NREL, we’re thrilled to hear he’s decided to pursue an advanced degree in cybersecurity. We can’t wait to see what the future holds for him as he builds on the skills he has learned here at NREL.”
Meeting the Challenges of Cybersecurity Through Computational Science
Zain ul Abdeen. Photo by Josh Bauer, NREL
Zain ul Abdeen came to NREL with a background in machine learning and artificial intelligence through a previous internship in NREL’s Computational Science Center, which comes in handy when asked to anticipate and respond to cyberattacks on power systems. Zain had worked as a computational scientist prior to arriving at NREL, and his computational skills were put to good use on cybersecurity projects.
Zain helped to test the performance of power system algorithms during adversarial attacks and built a model to detect anomalies in the system. With both, Zain was able to apply computational knowledge to specific challenges in cybersecurity. “We considered various kinds of attacks on the grid and how the algorithm was affected and how another model performed at detecting the attack,” he said.
A key component of Zain’s work is training models well enough that they are trustworthy when it comes to detecting and responding to attacks. That means designing robust systems that are well trained on possible scenarios and attacks.
“ENRGE is so well structured, and the mentors are very helpful,” he said. “They’re always there to help you solve a problem in your research. They listen, provide guidelines, and guide you in the right direction.”
“Zain’s final presentation of his projects this summer were incredibly impressive,” Neely said. “He made a big impact on his projects in such a short period of time. His successes clearly reflect the strong relationships he built with his mentors, Dr. Shuva Paul and Dr. Vivek Singh. We were very lucky to have his talents in the cybersecurity center this summer, and I can’t wait to read his next publications!”
Seizing an Unexpected Opportunity
Success Oluwole. Photo by Josh Bauer, NREL
When Success Oluwole went to her mentor and mechanical engineering department chair at Alabama Agriculture and Mechanical University, she asked him to keep his ears open for relevant opportunities. He called her up one day and directed Oluwole to an opportunity in the ENRGE program.
“I noticed it was a cybersecurity position and I’m quite in the mechanical engineering field,” she said. “So, I remember saying, ‘I’m not sure if this is the right fit for me.’”
The chair told Oluwole that she should not think like that—that she should be open to opportunities, even if the fit is not a direct match for her experience.
She applied to the ENRGE program. “I have always wanted to work at a national lab because I have research experience and working at the lab will give me more opportunities to do research full time,” she said.
When she interviewed for the role, it was the first time Oluwole had been interviewed by a panel, and she was nervous but optimistic, she said. When the offer came, Oluwole jumped at it. “The program gives people from minority communities the opportunity to work at a national lab. I’m Nigerian, and not many international students like me who come to this country have this opportunity. I knew working at NREL would be a great stepping stone for my career.”
Oluwole quickly realized that there was overlap between cybersecurity and mechanical engineering. She said she had the notion that there would be a lot of coding, but the actuality of the cybersecurity projects she worked on allowed her to use skills she brought with her to NREL.
She was able to deploy project management experience—data collection and budgeting—to help coordinate Liberty Eclipse, an annual full-scale cybersecurity preparedness exercise run by the U.S. Department of Energy. Oluwole also worked on a project involving cyber-informed engineering (CIE), which provides engineers a framework to integrate cybersecurity into the early design stages and throughout the life cycle of engineered systems. “I’ve been trying to apply the principles of CIE to the design, development, and operations of the wind turbines in the United States. I’ve been trying to apply the 12 principles of CIE to basically each level of a wind turbine,” she said.
“Success truly blossomed during her 10 weeks here at NREL,” Neely said. “She did a fantastic job collaborating with her mentor and I could tell she was really open trying things outside of her comfort zone. The fact that she left her experience better able to understand how cybersecurity affects her work as a mechanical engineer is a huge win for all of us. I feel so privileged to witness her growth and can’t wait to see what the future has in store for such a promising young researcher.”
Oluwole values the experiences she is gaining in the ENRGE program.
“Every single day since I started my internship here, I have been grateful, because this has been a blessing,” she said. “This program has been transformative. I’ve met great people. I’ve been able to apply my academic knowledge. I hope the program grows so that other people from minority communities can have the opportunities to learn like I have this summer.”
Before joining NREL, Oluwole did not have cybersecurity as a potential career path, but she is glad she has been able to gain this experience in an unexpected field.
ENRGE began with one intern in 2023 and has grown to four interns, two of whom have decided to pursue higher education as a result of their time in the program.
“Coming from diverse engineering and technical backgrounds, ENRGE interns learned to appreciate the importance of taking an interdisciplinary approach to the cybersecurity of energy systems,” Neely said. “Each of them has a very bright future as leaders in this important field. I hope their experience at NREL influences how they design and build critical cyber-physical systems of the future.”
Learn more about NREL’s ENRGE program and about NREL’s internship opportunities.