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  • MIL-OSI Economics: W&T Announces Positive Court Finding Regarding Remaining Surety Provider Claims

    Source: W & T Offshore Inc

    Headline: W&T Announces Positive Court Finding Regarding Remaining Surety Provider Claims

    HOUSTON, June 30, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced that U.S. Magistrate Judge Dena Palermo recommended denying two surety companies motions for preliminary injunction, through which they collectively asked for full monetization of over $100 million dollars. The Court found, in relevant part, the sureties failed to demonstrate they would suffer irreparable harm if their cash collateral demands were not granted.

    Key highlights relating to the ruling include:

    • Sureties’ motion for preliminary injunction, which would have required W&T to immediately post collateral, was categorically recommended to be denied;
    • Sureties failed to carry a clear burden of proof to establish irreparable harm necessary to obtain a preliminary injunction;
    • Ruling results in all current collateral requests by sureties being effectively nullified;
    • The Company will not be required to post collateral (if at all) until a determination on the merits of the pending lawsuit with the remaining surety providers;
    • The previously-announced settlement agreement, together with this favorable Court ruling, represent significant positive outcomes for W&T.

    Tracy W. Krohn, W&T’s Chairman and Chief Executive Officer stated, “We are very pleased with the Magistrate Judge’s recommendation that the Sureties’ preliminary injunction motions be denied. This vindicates W&T’s decision to aggressively defend against unlawful predatory business practices. W&T looks forward to a day when independent operators can once again operate in the Gulf of America unhampered by collusion and unlawful pressures exerted by sureties’ unfettered market power. We could not be more pleased with the Court’s decision preventing unnecessary and unjustified collateral demands by abusive surety providers.”  

    Mr. Krohn added, “surety providers have, for far too long, abused the ability to demand collateral. The Magistrate Judge’s recommendation, assuming it is upheld by the District Court, helps put an end to these blackmail business practices. Never again should any oil and gas producer have to cave to unjustified collateral demands. It admittedly takes courage and calculated risk to resist collective ultimatums from surety providers, but we hope the Court’s decision inspires others to follow suit in standing up to bullying tactics. The sureties’ collusive behavior has caused W&T’s (and other independent operators’) stockholders incalculable harm and it is about time that sureties are held accountable.”

    W&T Offshore’s legal team is led by its General Counsel, George J. Hittner, as well as Deputy General Counsels, Steven Lackey and Ted Imperato. W&T’s trial team is led by Yasser A. Madriz, the Managing Partner of the Houston Office of McGuireWoods, LLP along with members of the firm’s Commercial Litigation Section, Jason Huebinger, Megan Lewis, and Miles Indest.

    About W&T Offshore

    W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of America and has grown through acquisitions, exploration and development. As of March 31, 2025, the Company had working interests in 52 fields in federal and state waters (which include 45 fields in federal waters and seven in state waters). The Company has under lease approximately 634,700 gross acres (496,900 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 487,200 gross acres on the conventional shelf, approximately 141,900 gross acres in the deepwater and 5,600 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.

    Forward-Looking and Cautionary Statements

    This press release contains 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, as amended. All statements other than statements of historical facts included in this release, including those regarding the potential outcome of the litigation, the impact of the litigation on the Company or the industry more broadly, and the Company’s future operations are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes, although not all forward-looking statements contain such identifying words. Items contemplating or making assumptions about actual or potential future production and sales, prices, market size, and trends or operating results also constitute such forward-looking statements.

    These forward-looking statements are based on the Company’s current expectations and assumptions about future events and speak only as of the date of this release. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, as results actually achieved may differ materially from expected results described in these statements. The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements, unless required by law.

    Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ including, among other things, the regulatory environment, including availability or timing of, and conditions imposed on, obtaining and/or maintaining permits and approvals, including those necessary for drilling and/or development projects; the impact of current, pending and/or future laws and regulations, and of legislative and regulatory changes and other government activities, including those related to permitting, drilling, completion, well stimulation, operation, maintenance or abandonment of wells or facilities, managing energy, water, land, greenhouse gases or other emissions, protection of health, safety and the environment, or transportation, marketing and sale of the Company’s products; inflation levels; global economic trends, geopolitical risks and general economic and industry conditions, such as the global supply chain disruptions and the government interventions into the financial markets and economy in response to inflation levels and world health events; volatility of oil, NGL and natural gas prices; the global energy future, including the factors and trends that are expected to shape it, such as concerns about climate change and other air quality issues, the transition to a low-emission economy and the expected role of different energy sources; supply of and demand for oil, NGLs and natural gas, including due to the actions of foreign producers, importantly including OPEC and other major oil producing companies (“OPEC+”) and change in OPEC+’s production levels; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver the Company’s oil and natural gas and other processing and transportation considerations; inability to generate sufficient cash flow from operations or to obtain adequate financing to fund capital expenditures, meet the Company’s working capital requirements or fund planned investments; price fluctuations and availability of natural gas and electricity; the Company’s ability to use derivative instruments to manage commodity price risk; the Company’s ability to meet the Company’s planned drilling schedule, including due to the Company’s ability to obtain permits on a timely basis or at all, and to successfully drill wells that produce oil and natural gas in commercially viable quantities; uncertainties associated with estimating proved reserves and related future cash flows; the Company’s ability to replace the Company’s reserves through exploration and development activities; drilling and production results, lower–than–expected production, reserves or resources from development projects or higher–than–expected decline rates; the Company’s ability to obtain timely and available drilling and completion equipment and crew availability and access to necessary resources for drilling, completing and operating wells; changes in tax laws; effects of competition; uncertainties and liabilities associated with acquired and divested assets; the Company’s ability to make acquisitions and successfully integrate any acquired businesses; asset impairments from commodity price declines; large or multiple customer defaults on contractual obligations, including defaults resulting from actual or potential insolvencies; geographical concentration of the Company’s operations; the creditworthiness and performance of the Company’s counterparties with respect to its hedges; impact of derivatives legislation affecting the Company’s ability to hedge; failure of risk management and ineffectiveness of internal controls; catastrophic events, including tropical storms, hurricanes, earthquakes, pandemics and other world health events; environmental risks and liabilities under U.S. federal, state, tribal and local laws and regulations (including remedial actions); potential liability resulting from pending or future litigation; the Company’s ability to recruit and/or retain key members of the Company’s senior management and key technical employees; information technology failures or cyberattacks; and governmental actions and political conditions, as well as the actions by other third parties that are beyond the Company’s control, and other factors discussed in W&T Offshore’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q found at www.sec.gov or at the Company’s website at www.wtoffshore.com under the Investor Relations section.

         
    CONTACT: Al Petrie Sameer Parasnis
      Investor Relations Coordinator Executive VP and CFO
      investorrelations@wtoffshore.com sparasnis@wtoffshore.com
      713-297-8024 713-513-8654

    Source: W&T Offshore, Inc.

    Released June 30, 2025

    MIL OSI Economics –

  • MIL-OSI Economics: W&T Announces Positive Court Finding Regarding Remaining Surety Provider Claims

    Source: W & T Offshore Inc

    Headline: W&T Announces Positive Court Finding Regarding Remaining Surety Provider Claims

    HOUSTON, June 30, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced that U.S. Magistrate Judge Dena Palermo recommended denying two surety companies motions for preliminary injunction, through which they collectively asked for full monetization of over $100 million dollars. The Court found, in relevant part, the sureties failed to demonstrate they would suffer irreparable harm if their cash collateral demands were not granted.

    Key highlights relating to the ruling include:

    • Sureties’ motion for preliminary injunction, which would have required W&T to immediately post collateral, was categorically recommended to be denied;
    • Sureties failed to carry a clear burden of proof to establish irreparable harm necessary to obtain a preliminary injunction;
    • Ruling results in all current collateral requests by sureties being effectively nullified;
    • The Company will not be required to post collateral (if at all) until a determination on the merits of the pending lawsuit with the remaining surety providers;
    • The previously-announced settlement agreement, together with this favorable Court ruling, represent significant positive outcomes for W&T.

    Tracy W. Krohn, W&T’s Chairman and Chief Executive Officer stated, “We are very pleased with the Magistrate Judge’s recommendation that the Sureties’ preliminary injunction motions be denied. This vindicates W&T’s decision to aggressively defend against unlawful predatory business practices. W&T looks forward to a day when independent operators can once again operate in the Gulf of America unhampered by collusion and unlawful pressures exerted by sureties’ unfettered market power. We could not be more pleased with the Court’s decision preventing unnecessary and unjustified collateral demands by abusive surety providers.”  

    Mr. Krohn added, “surety providers have, for far too long, abused the ability to demand collateral. The Magistrate Judge’s recommendation, assuming it is upheld by the District Court, helps put an end to these blackmail business practices. Never again should any oil and gas producer have to cave to unjustified collateral demands. It admittedly takes courage and calculated risk to resist collective ultimatums from surety providers, but we hope the Court’s decision inspires others to follow suit in standing up to bullying tactics. The sureties’ collusive behavior has caused W&T’s (and other independent operators’) stockholders incalculable harm and it is about time that sureties are held accountable.”

    W&T Offshore’s legal team is led by its General Counsel, George J. Hittner, as well as Deputy General Counsels, Steven Lackey and Ted Imperato. W&T’s trial team is led by Yasser A. Madriz, the Managing Partner of the Houston Office of McGuireWoods, LLP along with members of the firm’s Commercial Litigation Section, Jason Huebinger, Megan Lewis, and Miles Indest.

    About W&T Offshore

    W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of America and has grown through acquisitions, exploration and development. As of March 31, 2025, the Company had working interests in 52 fields in federal and state waters (which include 45 fields in federal waters and seven in state waters). The Company has under lease approximately 634,700 gross acres (496,900 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 487,200 gross acres on the conventional shelf, approximately 141,900 gross acres in the deepwater and 5,600 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.

    Forward-Looking and Cautionary Statements

    This press release contains 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, as amended. All statements other than statements of historical facts included in this release, including those regarding the potential outcome of the litigation, the impact of the litigation on the Company or the industry more broadly, and the Company’s future operations are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes, although not all forward-looking statements contain such identifying words. Items contemplating or making assumptions about actual or potential future production and sales, prices, market size, and trends or operating results also constitute such forward-looking statements.

    These forward-looking statements are based on the Company’s current expectations and assumptions about future events and speak only as of the date of this release. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, as results actually achieved may differ materially from expected results described in these statements. The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements, unless required by law.

    Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ including, among other things, the regulatory environment, including availability or timing of, and conditions imposed on, obtaining and/or maintaining permits and approvals, including those necessary for drilling and/or development projects; the impact of current, pending and/or future laws and regulations, and of legislative and regulatory changes and other government activities, including those related to permitting, drilling, completion, well stimulation, operation, maintenance or abandonment of wells or facilities, managing energy, water, land, greenhouse gases or other emissions, protection of health, safety and the environment, or transportation, marketing and sale of the Company’s products; inflation levels; global economic trends, geopolitical risks and general economic and industry conditions, such as the global supply chain disruptions and the government interventions into the financial markets and economy in response to inflation levels and world health events; volatility of oil, NGL and natural gas prices; the global energy future, including the factors and trends that are expected to shape it, such as concerns about climate change and other air quality issues, the transition to a low-emission economy and the expected role of different energy sources; supply of and demand for oil, NGLs and natural gas, including due to the actions of foreign producers, importantly including OPEC and other major oil producing companies (“OPEC+”) and change in OPEC+’s production levels; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver the Company’s oil and natural gas and other processing and transportation considerations; inability to generate sufficient cash flow from operations or to obtain adequate financing to fund capital expenditures, meet the Company’s working capital requirements or fund planned investments; price fluctuations and availability of natural gas and electricity; the Company’s ability to use derivative instruments to manage commodity price risk; the Company’s ability to meet the Company’s planned drilling schedule, including due to the Company’s ability to obtain permits on a timely basis or at all, and to successfully drill wells that produce oil and natural gas in commercially viable quantities; uncertainties associated with estimating proved reserves and related future cash flows; the Company’s ability to replace the Company’s reserves through exploration and development activities; drilling and production results, lower–than–expected production, reserves or resources from development projects or higher–than–expected decline rates; the Company’s ability to obtain timely and available drilling and completion equipment and crew availability and access to necessary resources for drilling, completing and operating wells; changes in tax laws; effects of competition; uncertainties and liabilities associated with acquired and divested assets; the Company’s ability to make acquisitions and successfully integrate any acquired businesses; asset impairments from commodity price declines; large or multiple customer defaults on contractual obligations, including defaults resulting from actual or potential insolvencies; geographical concentration of the Company’s operations; the creditworthiness and performance of the Company’s counterparties with respect to its hedges; impact of derivatives legislation affecting the Company’s ability to hedge; failure of risk management and ineffectiveness of internal controls; catastrophic events, including tropical storms, hurricanes, earthquakes, pandemics and other world health events; environmental risks and liabilities under U.S. federal, state, tribal and local laws and regulations (including remedial actions); potential liability resulting from pending or future litigation; the Company’s ability to recruit and/or retain key members of the Company’s senior management and key technical employees; information technology failures or cyberattacks; and governmental actions and political conditions, as well as the actions by other third parties that are beyond the Company’s control, and other factors discussed in W&T Offshore’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q found at www.sec.gov or at the Company’s website at www.wtoffshore.com under the Investor Relations section.

         
    CONTACT: Al Petrie Sameer Parasnis
      Investor Relations Coordinator Executive VP and CFO
      investorrelations@wtoffshore.com sparasnis@wtoffshore.com
      713-297-8024 713-513-8654

    Source: W&T Offshore, Inc.

    Released June 30, 2025

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Homeowners could save hundreds on energy bills from solar drive

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    Homeowners could save hundreds on energy bills from solar drive

    Homeowners could save around £500 from the government’s drive for solar power on rooftops.

    • Homeowners could save around £500 from the government’s rooftop revolution 
    • rooftop solar could help bring bills down for British families through the Plan for Change 
    • government launches ‘roadmap’ to maximise the potential of solar on warehouses, homes and car parks 

    Families and businesses could benefit from cheaper bills and greater energy security through plans to drastically increase the deployment of rooftop solar across the country.  

    The government has today (Monday 30 June) launched a pathway for the UK to rapidly accelerate the roll out of solar, helping drive down bills, supporting tens of thousands of jobs and powering economic growth with clean energy. 

    Families could save around £500 a year on their energy bills by installing rooftop solar panels as part of the government’s rooftop revolution – making working people better off through the Plan for Change.  

    The Solar Roadmap sets out the steps needed for the government and industry to deliver 45-47 GW of solar by 2030 – which will support up to 35,000 jobs and use less than half a percent of total UK land.  

    This includes:  

    • increasing solar deployment on new build homes through the Future Homes Standard to save households money on bills
    • launching a call for evidence to understand how to harness the untapped potential of solar in car parks across England, Wales and Northern Ireland  
    • plans to launch a safety review to unlock portable plug-in solar panels, making it easier and cheaper for people living in rented accommodation and apartments to install solar on their balconies and rooftops
    • stronger engagement with industry and trade bodies to identify skills gaps in the solar sector to support more people into well-paid clean energy jobs

    Research suggests 88% of the British public are in favour of solar energy. Since July, the government has taken action to deploy the technology at scale, approving nearly 3 GW of nationally significant solar – more than the last 14 years combined. This is the equivalent of powering more than 500,000 homes with clean, homegrown power. 

    Energy Minister Michael Shanks said: 

    Families have been paying the price for the fossil fuel rollercoaster for years. 

    Our Plan for Change means delivering more homegrown energy that we control to boost the UK’s energy security and save money on your bills. 

    Through solar, we are rolling out the quickest to build and one of the cheapest forms of energy for families to start saving hundreds on their energy bills, all whilst helping tackle the climate crisis.

    The roadmap outlines practical actions for industry and government to overcome the challenges to delivering this ambition within the next five years and boost the UK’s energy security. This includes providing a new blueprint for industry to overcome barriers in planning, electricity networks, supply chain and innovation and workforce and skills challenges. 

    There are already over 1.5 million homes in the UK with rooftop solar panels installed. According to MCS, the body responsible for certifying renewable energy installers, 15,496 solar installations took place in January 2025 on existing homes, a 16.5% increase on the previous year.

    To help households with the finances of installing rooftop solar, the government is working with the Green Finance Institute, the finance sector, consumer bodies and the solar sector itself to provide financial solutions for households and businesses.  

    The government has also made rooftop solar more accessible, having recently announced all new build homes will have solar panels by default to help bring down bills for families, through the Future Homes Standard. This will also see new homes benefit from low-carbon heating, such as heat pumps and high levels for energy efficiency.    
     
    This means recipients of new build homes will save money on their energy bills through government support, tackling the cost of living crisis for aspirational young families and new house buyers. 

    Rooftop solar not only adds value through lowering bills but it can also increase the financial value of the property. The government wants homeowners to cash in on this and is working with the Royal Institution of Chartered Surveyors to ensure that the value of solar homes is assessed properly. 

    Renters and those living in apartments could also be set to experience the benefits of solar as the government sets out the steps required to make ‘plug-in’ solar available in the UK. Plug-in solar works in the same way as rooftop solar panels, except it is portable and is connected directly into plug sockets – ideal for apartments with balconies. 

    Plug-in solar is currently unavailable in the UK due to longstanding regulations. But in Germany, around 435,000 balconies had plug-in solar installed in 2024 alone, saving residents in apartments money on their electricity bills.  

    Last month, Great British Energy announced an initial £200 million investment in rooftop solar for hundreds of schools and hospitals, with savings around £200,000 a month for some hospitals. 

    Solar Energy UK Chief Executive and Co-Chair of the Solar Taskforce, Chris Hewett said:  

    Today marks the dawn of a transformative era for how the UK powers itself.  

    The Solar Roadmap highlights dozens of practical measures needed to expand solar generation, boost the supply of cheaper and more secure power, foster new industries, create skilled jobs, boost biodiversity and slash our greenhouse gas emissions.  

    The sector is already growing fast, with around 700 small-scale rooftop installations being completed each day, but needs to grow faster. 

    Garry Felgate, Chief Executive of The MCS Foundation said: 

    The UK is experiencing a solar boom, with record numbers of subsidy-free solar panels being installed on rooftops across the country.    

    We welcome the Solar Roadmap which sets out the many ways in which we can maximise British potential for clean, cheap electricity.   

    Following on from the announcement that the vast majority of new homes will be required to have solar panels under the Future Homes Standard, the Solar Roadmap clearly demonstrates this government’s commitment to home-grown renewable power.

    Matthew Boulton, Director of Solar, Storage and Private Wire at EDF Renewables UK, and member of the Solar Taskforce said:  

    EDF Renewables UK is proud to have contributed to the UK government’s Solar Taskforce and welcomes the publication of the Roadmap.   

    We are at a pivotal moment for the solar sector, and we fully support the clear, coordinated action set out in the Roadmap that will help unlock the UK’s full solar potential.  

    We look forward to continuing our collaboration with government and industry to turn this vision into reality.

    Alexandra Desouza, EMEA General Counsel, Lightsource bp and member of the Solar Taskforce said: 

    The publication of the solar roadmap comes at a big moment for the UK energy sector — and especially for solar. Solar is key to the UK’s future energy mix and has a critical role to play in delivering secure, low-cost power.  

    The deployment of more solar and battery storage helps keep energy costs competitive for UK businesses, boosting economic growth and making companies more resilient. 

    As per the solar roadmap’s aims and ambitions, the focus is to shift to delivery for Clean Power 2030. This is a real opportunity for the UK to align behind a shared goal — bringing communities together, supporting farmers, and accelerating the transition to renewable and domestic generation.

    Kamal Rajput, Tata Steel UK’s Strategic Business Development Lead, and Co-Chair of the Solar Energy UK, UK Supply Chain Steering Group said:  

    We very much welcome the publication of the Solar Roadmap, highlighting the vital role that UK manufacturers such as Tata Steel will play in helping government achieve its clean energy targets.  

    With our product innovations such as the recently launched Catnic SolarSeam roofing system, and our MagiZinc products used extensively in utility scale racking systems, Tata Steel is well-placed to play a significant role in the growing solar energy sector.

    Case studies

    Case study 1

    Phil lives in North Leeds with his wife and son. They installed 14 solar panels and battery storage on their detached 3 bed property in November 2022.   

    The installation cost approximately £20,000 in total – £8,000 for solar panels, £8,000 for the battery and the rest contributed towards and Electric Vehicle Charging port. 

    Phil says:

    I wanted solar because we had an electric car and the prospect of charging it from the sun was quite attractive. Over the last 90 days, our electric bill was minus £18.60 – in other words, we’ve cooked, cleaned, tumble-dried, showered, watched copious amounts of TV, ran the car for 2,000 miles and we are owed £18.60!

    With retirement looming, we wanted to invest in the house to make it as cheap to run as possible. Our monthly direct debit is less than half what it was before the install.

    Case study 2

    Tim is a retired teacher living south of King’s Lynn. He had 12 solar panels and a battery storage unit installed on his 3-bed property in March 2024. 

    His home is a new-build property with an EPC rating B+ that also includes an air source heat pump that is powered entirely through clean power supplied by the solar panels. He’s also installed an Electric Vehicle Charging point on his drive. 

    Since installing the rooftop solar panels, Tim’s electricity bill has gone from £1,200 a year to £150 a year – saving of over £1,000 a year. 

    Tim says:

    I’ve been delighted with the results so far. Before I put the panels up, I used 3 MWh of electricity. Over the past 12 months the solar panels alone have generated over double that amount – meaning I am technically my own electricity supplier selling back to the grid!

    The panels will pay for themselves in 12 years but will last for more like 25 years whilst adding value to my house, should I decide to sell it.  

    I used the lump sum from my pension to pay for the panels. I see it as an investment for the future – an investment in the planet, but also my own financial security as my bills are now so low.

    It is great to be part of the green energy revolution! In a world of global warming and climate change, at least the house is now self-sufficient in power. The advantages of solar are so great that my father, aged 90, has also had them installed recently on his house near Nottingham.

    Case study 3

    Stourton Park and Ride in Leeds is the UK’s first fully solar-powered park and ride, featuring a 1.2 MW system of solar panels, battery storage, and 26 Electric Vehicle charging points.   

    The Solar PV system is estimated to generate 852,000 kWh a year and offset 471 tonnes of carbon in its first year – the equivalent of removing over 200 cars from the road.  

    Notes to editors  

    The Bundesnetzagentur (Germany’s Federal Network Agency) registered about 435,000 new plug-in balcony solar panel installations in its core energy market data register in 2024. 

    View the full Solar Roadmap.

    Read the data on public support for solar: DESNZ Public Attitudes Tracker: Spring 2024.

    Contact details to the case studies can be made available on request.

    Updates to this page

    Published 30 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Zscaler Announces Proposed Offering of $1.5 Billion of Convertible Senior Notes Due 2028

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., June 30, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (Nasdaq: ZS) today announced that it intends to offer $1.5 billion aggregate principal amount of its convertible senior notes due 2028 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Zscaler also intends to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $225 million aggregate principal amount of notes. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    The notes will be senior unsecured obligations of Zscaler and will accrue interest payable semiannually in arrears. The notes will mature on July 15, 2028, unless earlier converted or repurchased and will be convertible under certain circumstances into cash, shares of Zscaler’s common stock or a combination of cash and shares of Zscaler’s common stock, at Zscaler’s election. The interest rate, initial conversion rate, repurchase rights and other terms of the notes will be determined at the time of pricing of the offering.

    Zscaler intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions described below. Zscaler intends to use the remainder of the net proceeds for general corporate purposes, which may include working capital, capital expenditures, and potential acquisitions and strategic transactions.

    Further, in connection with the pricing of the notes, Zscaler expects to enter into privately negotiated capped call transactions with one or more of the initial purchasers and/or their respective affiliates and/or other financial institutions (the “option counterparties”). The capped call transactions are expected to cover, subject to anti-dilution adjustments substantially similar to those applicable to the notes, the number of shares of Zscaler’s common stock that will initially underlie the notes. The capped call transactions are expected generally to reduce the potential dilution to Zscaler’s common stock upon any conversion of notes and/or offset any cash payments Zscaler is required to make in excess of the principal amount of converted notes, as the case may be, with such reduction and/or offset subject to a cap. If the initial purchasers exercise their option to purchase additional notes, Zscaler expects to enter into additional capped call transactions with the option counterparties.

    Zscaler has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates may purchase shares of Zscaler’s common stock and/or enter into various derivative transactions with respect to Zscaler’s common stock concurrently with or shortly after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of Zscaler’s common stock or the notes at that time.

    In addition, Zscaler has been advised that the option counterparties and/or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Zscaler’s common stock and/or purchasing or selling Zscaler’s common stock or other securities of Zscaler in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and are likely to do so during the observation period related to a conversion of the notes, in connection with any fundamental change repurchase of the notes, and to the extent Zscaler unwinds a corresponding portion of the capped call transactions, following any other repurchase of the notes). This activity could also cause or avoid an increase or a decrease in the market price of Zscaler’s common stock or the notes, which could affect the ability of noteholders to convert the notes, and, to the extent the activity occurs during any observation period related to a conversion of notes, it could affect the number of shares and value of the consideration that a noteholder will receive upon conversion of its notes.

    The notes will be offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Neither the notes, nor any shares of Zscaler’s common stock issuable upon conversion of the notes, have been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

    This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

    Forward-Looking Statements

    This press release contains 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, as amended. Forward-looking statements generally relate to future events. In some cases, you can identify forward-looking statements because they contain words such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” or “expect,” or the negative of these words, or other similar terms or expressions that concern Zscaler’s expectations, strategy, plans, or intentions. Forward-looking statements in this release include, but are not limited to, statements concerning the proposed terms of the notes, capped call transactions and repurchase or early conversion of the notes, exercise of the purchasers option to purchase additional notes, and the anticipated use of proceeds from the offering.

    Zscaler’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Zscaler’s filings with the Securities and Exchange Commission, including Zscaler’s Quarterly Report on Form 10-Q filed on May 29, 2025. The forward-looking statements in this release are based on information available to Zscaler as of the date hereof, and Zscaler disclaims any obligation to update any forward-looking statements, except as required by law.

    Investor Relations Contact:

    Ashwin Kesireddy
    Vice President, Investor Relations & Strategic Finance
    ir@zscaler.com

    Media Contact:

    Nick Gonzalez, Sr. Manager, Media Relations
    press@zscaler.com

    The MIL Network –

  • MIL-OSI: Lantronix Enters Into Cooperation Agreement With Investor Group Led by Chain of Lakes Investment Fund LLC

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., June 30, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX) (the “Company”), a global leader in compute and connectivity IoT solutions enabling Edge AI intelligence, today announced that it has entered into a cooperation agreement with Lantronix stockholders Chain of Lakes Investment Fund LLC (“Chain of Lakes”), Haluk L. Bayraktar and Emre Aciksoz. Under the terms of the agreement, James (Jim) C. Auker will be appointed to the Lantronix Board of Directors (the “Board”) and will be nominated for election at the Company’s 2025 Annual Meeting of Stockholders. The date of the Annual Meeting has not yet been announced.

    “Lantronix is committed to maximizing value for all Lantronix shareholders,” said Saleel Awsare, CEO and president of Lantronix. “We appreciate the constructive discussions with Chain of Lakes and are pleased to welcome Jim Auker to our Board. His perspective and experience will be valuable as we continue to execute on our strategic priorities.”

    “We value the collaborative approach taken by Saleel and the Lantronix Board to reach a positive outcome for the benefit of all Lantronix shareholders,” said Tim O’Connell, chief investment officer of Chain of Lakes. “We believe Jim Auker will be a strong addition to the Board and are confident his contributions will help guide Lantronix in its efforts to explore opportunities to enhance shareholder value.”

    Pursuant to their agreement with the Company, Chain of Lakes, Mr. Bayraktar and Mr. Aciksoz have agreed to customary standstill and voting commitments, among other provisions. The full agreement and required information in connection with the election of Mr. Auker to the Board will be filed with the U.S. Securities and Exchange Commission.

    About Lantronix

    Lantronix Inc. is a global leader in compute and connectivity IoT solutions that target high-growth industries, including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to achieve success in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

    For more information, visit the Lantronix website.

    Forward-Looking Statements

    This news release contains forward-looking statements, including statements concerning management’s expectations about the future benefits of our entry into the cooperation agreement and the election of Mr. Auker to our Board. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. We have based our forward-looking statements on our current expectations and projections about trends affecting our business and industry and other future events. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Forward-looking statements are subject to substantial risks and uncertainties that could cause our results or experiences, or future business, financial condition, results of operations or performance, to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. Other factors which could have a material adverse effect on our operations and future prospects or which could cause actual results to differ materially from our expectations include, but are not limited to: the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to a pandemic or similar outbreak, wars and recent conflicts in Europe, Asia and the Middle East, hostilities in the Red Sea, or other causes; our ability to successfully convert our backlog and current demand;  the impact of a pandemic or similar outbreak on our business, employees, customers, supply and distribution chains and the global economy; our ability to successfully implement our acquisition strategy or integrate acquired companies; uncertainty as to the future profitability of acquired businesses, and delays in the realization of, or the failure to realize, any accretion from acquisition transactions; acquiring, managing and integrating new operations, businesses or assets, and the associated diversion of management attention or other related costs or difficulties; our ability to continue to generate revenue from products sold into mature markets; our ability to develop, market, and sell new products; our ability to succeed with our new software offerings; our use of AI may result in reputational, competitive or financial harm and liability; fluctuations in our revenue due to the project-based timing of orders from certain customers; unpredictable timing of our revenues due to the lengthy sales cycle for our products and services and potential delays in customer completion of projects; our ability to accurately forecast future demand for our products; delays in qualifying revisions of existing products; constraints or delays in the supply of, or quality control issues with, certain materials or components; difficulties associated with the delivery, quality or cost of our products from our contract manufacturers or suppliers; risks related to the outsourcing of manufacturing and international operations; difficulties associated with our distributors or resellers; intense competition in our industry and resultant downward price pressure; rises in inventory levels and inventory obsolescence; undetected software or hardware errors or defects in our products; cybersecurity risks; our ability to obtain appropriate industry certifications or approvals from governmental regulatory bodies; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to protect patents and other proprietary rights and avoid infringement of others’ proprietary technology rights; issues relating to the stability of our financial and banking institutions and relationships; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; the impact of rising interest rates; our ability to attract and retain qualified management; and any additional factors included in our Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of that report; in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025, filed with the SEC on May 9, 2025, including in the section entitled “Risk Factors” in Item 1A of Part II of such report; and in our other public filings with the SEC. In addition, actual results may differ as a result of additional risks and uncertainties of which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

    Important Additional Information Regarding Proxy Solicitation

    We intend to file a proxy statement and proxy card with the SEC in connection with the solicitation of proxies for our 2025 Annual Meeting of Stockholders (the “Proxy Statement” and such meeting, the “2025 Annual Meeting”). The Company, our directors and certain of our executive officers are participants in the solicitation. Information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the Proxy Statement and other relevant documents to be filed with the SEC.

    Additional information regarding the participants and their respective interests in the Company by security holdings or otherwise is set forth under the captions “Corporate Governance and Board Matters,” “Executive Compensation” and “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” in our proxy statement for the 2024 Annual Meeting of Stockholders, filed with the SEC on Sept.30, 2024 (the “2024 Proxy Statement”) and available at sec.gov/Archives/edgar/data/1114925/000114036124042340/ny20032265x1_def14a.htm.

    To the extent holdings of such participants in our securities have changed since the amounts described in the 2024 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Details concerning the nominees of our Board of Directors for election at the 2025 Annual Meeting will be included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING PROXY CARD AND ANY AMENDMENTS AND SUPPLEMENTS THERETO BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. These documents, including the definitive Proxy Statement (and any amendments or supplements thereto) and other documents filed by us with the SEC, are available for no charge at the SEC’s website at http://www.sec.gov and at our investor relations website at https://www.lantronix.com/investor-relations/sec-filings.

    © 2025 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

    Lantronix Media Contact:        
    Gail Kathryn Miller
    Corporate Marketing &
    Communications Manager
    media@lantronix.com
    949-212-0960

    Lantronix Analyst and Investor Contact:        
    investors@lantronix.com

    The MIL Network –

  • MIL-OSI: POET Technologies Provides Results of 2025 Annual General and Special Meeting

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 30, 2025 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of Photonic Integrated Circuits (PICs), light sources and optical modules for the AI and data center markets today reported the voting results of its Annual General and Special Meeting (the ”Meeting” or “AGSM”), which was held virtually on Friday, June 27, 2025.

    The Company’s VP Finance and Administration, Kevin Barnes, delivered customary introductions and the call to order, and POET’s Chairman of the Compensation Committee, Glen Riley, conducted the formal business of the Meeting, which included the approval of all proposals outlined in the Company’s management information circular and voting material as previously distributed to shareholders.

    Following the completion of the formal business portion of the Meeting, the Company presented a video highlighting the transformation of its operations—from product development through to manufacturing. This was followed by a presentation from Chief Executive Officer Dr. Suresh Venkatesan, who provided an overview of the Company’s 2024 activities and outlined near-term opportunities. A brief Q&A session concluded the presentations.

    The video presentation can be accessed from the Company’s website at: https://poet-technologies.com/videos.

    AGSM Voting Results Summary
    A detailed Report on Voting Results of the AGSM follows. In summary, the shareholders of the Company approved the following proposals:

    • Re-election of Suresh Venkatesan, Jean-Louis Malinge, Theresa Lan Ende, Glen Riley and Robert “Bob” Tirva as directors, with no director receiving less than 94% of the votes cast;
    • Appointment of Davidson & Company LLP as the Company’s auditors by 96% of the votes cast;
    • Approval of the Corporation’s Omnibus Equity Incentive Plan by 84% of the votes cast, which included an increase in the number of awards available to 17,007,771, representing 20% of the 85,022,787 common shares issued at the time of the meeting.

    Detailed Report of AGSM Voting Results
    In accordance with section 11.3 of National Instrument 51-102 – Continuous Disclosure Obligations, this report briefly describes the matters voted upon and the outcome of the votes at the annual general and special meeting of shareholders of POET Technologies Inc. (the “Company“) held virtually via the MEETNOW.GlOBAL platform on June 27, 2025 (the “Meeting“). Each of the matters is described in greater detail in the Company’s management information circular dated May 1, 2025 (the “Circular“)

    1.      Election of Directors.

    Each of the nominees set for in the Circular were elected as directors to serve until the next annual meeting of shareholders, or until their respective successors are elected or appointed. The following table sets forth the vote of the shareholders at the Meeting with respect to the election of directors:

    Nominee For Withheld
    Number of Votes Percentage of Votes Number of Votes Percentage of Votes
    Glen Riley 6,475,012 94.43% 382,060 5.57%
    Jean-Louis Malinge 6,573,485 95.86% 283,586 4.14%
    Robert “Bob” Tirva 6,557,820 95.64% 299,251 4.36%
    Suresh Venkatesan 6,645,609 96.92% 211,462 3.08%
    Theresa Lan Ende 6,541,010 95.39% 316,061 4.61%
             

    2.      Appointment of Davidson & Company LLP.

    The Company’s shareholders approved the appointment of Davidson & Company LLP as auditors of the Company to hold office until the close of the next annual meeting of shareholders of the Company at such remuneration as may be fixed by the directors of the Company. The following table sets forth the vote of the shareholders at the Meeting with respect to the appointment of Davidson & Company LLP:

    For Withheld
    Number of Votes Percentage of Votes Number of Votes Percentage of Votes
    20,178,708 95.67% 914,338 4.33%
           

    3.      Amendment to Omnibus Plan

    The Company’s shareholders approved by an ordinary resolution an amendment to the Company’s omnibus equity incentive plan (the “Omnibus Plan”). The following table sets forth the vote of the shareholders at the Meeting with respect to the Omnibus Plan:

    For Against
    Number of Votes Percentage of Votes Number of Votes Percentage of Votes
    5,786,541 84.39% 1,070,529 15.61%
           

    The Company had 85,022,787 issued and outstanding shares at the time of the meeting. The awards issuable under the Omnibus Plan has been amended to 17,007,771.

    Restricted Stock Units (“RSUs”)
    Following the AGSM, the POET Board of Directors met to elect officers and to determine RSU grants for directors. For their service on the Board of Directors until the next Annual General Meeting, the directors were granted a total of 72,340 RSUs which will vest on the first anniversary of the grant. Should a director resign prior to the first anniversary of the grant, the RSUs will be vested pro-rata based on the time served as a director from the date of grant to the date of resignation. The number of RSUs granted was based on the allocation of total compensation to equity, using a per share price of CAD$7.23, being the closing price of the Company’s shares on June 27, 2025. The cash portion of each director’s compensation is paid over four quarters. Both are paid in accordance with an established formula for director compensation. The RSUs were granted subject to provisions of the Company’s 2025 Omnibus Incentive Plan and are subject to the TSX Venture Exchange policies and applicable securities laws. For further details on the Company’s share capital, refer to the Company’s Financial Statements and MD&A for the three-months ended March 31, 2025, which may be found on SEDAR+ and EDGAR.

    About POET Technologies Inc.
    POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers.  POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems.  POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles.  POET is headquartered in Toronto, Canada, with operations in Shenzhen, China, Penang, Malaysia and Singapore.  More information about POET is available on our website at www.poet-technologies.com.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
    120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 – Fax: 416-322-5075

    The MIL Network –

  • MIL-OSI: Cielo Announces AGM Results and Extension of Unit Offering

    Source: GlobeNewswire (MIL-OSI)

    THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

    CALGARY, Alberta, June 30, 2025 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV: CMC; OTC PINK: CWSFF) (“Cielo” or the “Company”) is pleased to announce the results of its annual general and special meeting of shareholders (the “Meeting”) held on June 24, 2025, as well as an extension to the Offering (as defined below).

    Shareholder Meeting

    All of the business items proposed by management were approved by the shareholders at the Meeting, as follows:

    • setting the size of the Board of Directors at four for the ensuing year;
    • electing each management-nominated director for the ensuing year;
    • appointing MNP LLP as the Company’s auditor; and
    • re-approving the Company’ rolling stock option plan.

    The directors of Cielo are: Sheila Leggett (who was re-appointed Chair following the Meeting), Ryan Jackson, Peter MacKay, and Larry Schafran.

    Private Placement Offering of Units

    The Company is also continuing to offer, on a private placement basis, the issuance of up to 60,000,000 units (each a “Unit”, collectively the “Units”) at a price of $0.05 per Unit (the “Offering”), for gross proceeds of up to C $3,000,000.

    The Company had initially announced the Offering in a news release on May 13, 2025. The TSX Venture Exchange has conditionally approved the Offering as well as an extension. The closing is anticipated to occur on or about July 18, 2025.

    This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    ABOUT CIELO

    Cielo Waste Solutions Corp. is a publicly traded company focused on transforming waste materials into high-value products. Cielo seeks to address global waste challenges while contributing to the circular economy and reducing carbon emissions. Cielo is fueling environmental change with a mission to be a leader in the wood by-product-to-fuels industry by using environmentally friendly, economically sustainable and market-ready technologies. Cielo is committed to helping society by providing environmental waste solutions, which the Company believes will contribute to generating positive returns for shareholders. Cielo shares are listed on the TSX Venture Exchange under the symbol “CMC,” as well as on the OTC Pink Market under the symbol “CWSFF.”

    For further information please contact:

    Cielo Investor Relations

    Ryan C. Jackson, CEO
    Phone: (403) 348-2972
    Email: investors@cielows.com

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

    This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes.

    Forward-looking statements are subject to both known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Cielo, that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions. The Company is making forward-looking statements, including but not limited to, with respect to: the Offering.

    Investors should continue to review and consider information disseminated through news releases and filed by Cielo on SEDAR+. Although the Company has attempted to identify crucial factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

    Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Cielo’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    The MIL Network –

  • MIL-OSI: Credicorp Ltd.: Credicorp Takes Legal Action to Defend Rule of Law in Tax Dispute with SUNAT

    Source: GlobeNewswire (MIL-OSI)

    Lima, June 30, 2025 (GLOBE NEWSWIRE) — Lima, PERU, June 30, 2025 – Credicorp Ltd. (“Credicorp” or “the Company”) (NYSE:BAP | BVL: BAP), the leading financial services holding company in Peru with a presence in Chile, Colombia, Bolivia, and Panama, through its subsidiary Grupo Credito S.A. initiates legal action against the Peruvian Tax Administration (Superintendencia Nacional de Aduanas y de Administración Tributaria – SUNAT), for disregarding the law and the decision of SUNAT´s Review Committee (Comité Revisor), whose rulings are binding under current legislation. The Company expresses concern that SUNAT is ignoring the legal framework in effect at the time of the transactions in question, thereby undermining legal certainty for companies operating in Peru.

    The transactions in question involved Grupo Crédito S.A. purchasing Banco de Crédito del Perú (BCP) shares from Credicorp Ltd. in 2018 and 2019, through the Lima Stock Exchange.  At the time, Peruvian law exempted such transactions from income tax, provided that the transferred shares did not exceed 10% of the total outstanding shares of the issuing company within a 12-month period.

    These transactions were communicated to the Superintendencia del Mercado de Valores (SMV), approved by the Superintendencia de Banca, Seguros y AFP (SBS), and duly registered with Registro Central de Valores y Liquidaciones (CAVALI). They were conducted transparently and in full compliance with applicable legal and regulatory requirements.

    Credicorp notes that this case was previously reviewed by SUNAT’s own Review Committee, which confirmed the authenticity of the transactions and found no grounds for tax elusion claims. Nevertheless, SUNAT has reopened the matter and is now seeking over S/. 1.5 billion in purported unpaid income tax and accrued interest. Credicorp views this action as a serious breach of legal predictability, given it involves both the disregard of established legal norms, and the reopening of a case already assessed and resolved by SUNAT’s own Review Committee. In accordance with International Accounting Standards, no expense provisions are necessary.

    Credicorp is evaluating this new development and will respond through all appropriate legal and administrative channels. Grupo Crédito S.A., the entity involved, reaffirms its commitment to full regulatory and tax compliance, and to protecting the interests of its employees, clients, and investors.

    About Credicorp:
    Credicorp (NYSE: BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia, Bolivia, and Panama. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Crédito del Peru (“BCP”) and Banco de Crédito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Management & Advisory, through Credicorp Capital, Wealth Management at BCP and ASB Bank Corp.

    For further information please contact the IR team:
    investorrelations@credicorpperu.com
    Investor Relations
    Credicorp Ltd.

    The MIL Network –

  • MIL-OSI: For the Second Consecutive Year, HRCI Named a Top Workplaces Award Winner by The Washington Post

    Source: GlobeNewswire (MIL-OSI)

    ALEXANDRIA, Va., June 30, 2025 (GLOBE NEWSWIRE) — HRCI, the premier credentialing and learning community for the human resource profession, has once again been recognized as a Top Workplace by The Washington Post. This list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner, Energage LLC. The confidential survey uniquely measures the employee experience and its component themes, including employees feeling Respected & Supported, Enabled to Grow and Empowered to Execute, to name a few.

    For over 50 years, HRCI has set the global standard for HR expertise and excellence through its commitment to developing and advancing those in the people business. Today, over 500,000 HR professionals in 150+ countries have achieved HRCI certification as a mark of professional distinction. HRCI continually innovates to support HR professionals in the modern workplace via global certifications, certificate courses and over 120,000 hours of world-class on-demand learning. HRCI also administers organizational certifications based on the human resources management standards developed by the International Organization for Standardization (ISO).

    Cited as HRCI’s three top organizational strengths were “Leaders In-The-Know” where employees believe senior managers know what is really happening; “Cross-Team” cooperation where employees believe there is good inter-departmental cooperation; and “Supportive Managers” where employees feel the managers at HRCI care about their concerns and help them learn, grow and succeed. HRCI also scored in the top 25 percent of organizations in its benchmark for innovation, employee appreciation and work-life balance. Leaders In-The-Know received special distinction, having scored in the top 5 percent.

    Dr. Amy Dufrane, CEO of HRCI, said, “We’re grateful to have achieved this award for the second consecutive year. It validates our commitment to HR best practices as a category thought leader. We’re particularly proud of our employees – who shared comments such as ‘…we are all treated as important members of the team,’ ‘…the camaraderie is off the charts’ and ‘…my work makes a difference to our team, the organization and our customers.’”

    “It’s empowering,” Dufrane added, “to know how significantly HRCI’s supportive and respectful culture truly reflects our collaborative, professional and forward-thinking values.”

    “Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees,” said Eric Rubino, Energage CEO. “That’s something to be proud of. In today’s market, leaders must ensure they’re allowing employees to have a voice and be heard. That’s paramount. Top Workplaces do this, and it pays dividends.”

    ABOUT HRCI®

    HRCI® is the premier credentialing and learning community for the human resource profession. For 50 years, HRCI has set the global standard for HR expertise and excellence through its commitment to developing and advancing those in the people business. HRCI helps HR professionals achieve new competencies that drive results by creating and offering world-class learning and administering eight global certifications. To learn more about HRCI, visit www.hrci.org.

    ABOUT ENERGAGE

    Making the world a better place to work together.TM

    Energage is a purpose-driven company that helps organizations turn employee feedback into useful business intelligence and credible employer recognition through Top Workplaces. Built on 18 years of culture research and the results from 27 million employees surveyed across more than 70,000 organizations, Energage delivers the most accurate competitive benchmark available. With access to a unique combination of patented analytic tools and expert guidance, Energage customers lead the competition with an engaged workforce and an opportunity to gain recognition for their people-first approach to culture. For more information or to nominate your organization, visit energage.com or topworkplaces.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ddd0701-0293-45c2-a5d1-bebbc203ca84

    The MIL Network –

  • MIL-OSI: Bitcoin News: Topnotch Crypto Breaks Down Barriers with First-of-its-Kind Free Cloud Mining Platform 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, June 30, 2025 (GLOBE NEWSWIRE) — In a landmark move for digital inclusion, Topnotch Crypto today launched a revolutionary, zero-cost cloud mining platform. This initiative is engineered to fundamentally reshape public interaction with blockchain technology by making participation in the Bitcoin network universally accessible. By removing the significant financial and technical barriers that have historically ringfenced the world of cryptocurrency, Topnotch Crypto is opening the doors to a new era of technological empowerment.

    The launch directly addresses a long-standing challenge within the digital asset space. For years, direct participation in securing the Bitcoin network has been an exclusive endeavor, demanding substantial investments in specialized, high-cost hardware, coupled with the deep technical expertise required to configure and maintain it. Furthermore, the immense energy consumption associated with traditional mining has raised valid environmental concerns, creating an additional barrier for the eco-conscious user. Topnotch Crypto’s platform systematically dismantles these obstacles, creating a level playing field for all.

    At the core of this initiative is a firm belief in democratizing technology. The company’s mission is to bridge the digital divide, providing the tools and access necessary for anyone, regardless of their financial status or technical background, to explore and engage with the foundational layer of blockchain. This is more than a product launch; it is the enactment of a vision for a more inclusive and decentralized digital ecosystem.

    “We believe everyone deserves the right to participate in the future of digital technology, not just as users of applications, but as active participants in the underlying infrastructure. Our goal is to empower people and ignite curiosity,” said a spokesperson for Topnotch Crypto. “We are turning a complex process into a simple, accessible experience. After registration, you can enjoy the platform’s computing power allocation and mining rights. This isn’t about speculation; it’s about education, experience, and providing a tangible connection to the technology that will shape our future. We are giving people the tools to see firsthand how this global network operates, powered entirely by sustainable energy.”

    The platform is built on several key pillars designed for simplicity, security, and sustainability:

    • Zero-Cost Access: Upon completing a simple registration, every user is granted an allocation of computing power as bonus. This provides a foundational share of the platform’s resources, allowing for direct participation in network activities without any financial commitment.
    • Instant Activation: The journey from signing up to active participation takes only minutes. The platform is designed for a seamless, intuitive onboarding experience, eliminating the complex setup and configuration processes typical of traditional mining operations.
    • Unwavering Commitment to Sustainability: All of Topnotch Crypto’s data centers are powered by 100% renewable energy sources, including geothermal and solar power. This green-first approach not only ensures low-cost, efficient operations but also allows users to participate in the network with a clean environmental conscience.
    • A Secure and Transparent Environment: User experience is protected by institutional-grade security protocols. The platform features a clean, transparent dashboard where users can monitor their allocated computing power and review its activity, offering a clear window into the process.

    Getting started is a straightforward process:

    1. Visit the official Topnotch Crypto website.
    2. Create your free account through the secure registration portal.
    3. Your access and computing power allocation are activated automatically.

    This launch represents a pivotal moment for the industry. By creating a sustainable, secure, and entirely free gateway to the Bitcoin network, Topnotch Crypto is not just launching a platform—it is fostering a more educated, diverse, and empowered global community.

    Visit Topnotch Crypto online today to secure your place in the future of digital technology.

    About Topnotch Crypto

    Topnotch Crypto is a global leader in providing secure, efficient, and sustainable cryptocurrency infrastructure solutions. By integrating cutting-edge technology with a 100% renewable energy framework, Topnotch Crypto offers a transparent and powerful platform for users to experience and participate in blockchain networks.

    More information:

    Official website: https://topnotchcrypto.com

    Disclaimer: The information provided in this press release is not intended as and does not constitute investment advice, financial advice, or trading advice. Cryptocurrency investment, including mining, carries a high level of risk, and you could lose your entire investment. You should conduct your own due diligence and consult with a qualified professional financial advisor before making any investment decisions.

    The MIL Network –

  • MIL-OSI: Brookfield Business Partners to Host Second Quarter 2025 Results Conference Call

    Source: GlobeNewswire (MIL-OSI)

    Date: Friday, August 1, 2025
    Time: 10:00 a.m. (Eastern Time)

    BROOKFIELD, NEWS, June 30, 2025 (GLOBE NEWSWIRE) — Brookfield Business Partners will host its Second Quarter 2025 Conference Call & Webcast on Friday, August 1, 2025 at 10:00 a.m. (ET) to discuss results and current business initiatives.

    Results will be released on Friday, August 1, 2025 prior to 8:00 a.m. (ET) and will be available following the release on our website at https://bbu.brookfield.com.

    Participants can join by conference call or webcast:

    Conference Call

    • Please pre-register: BBU2025Q2ConferenceCall
    • Upon registering, you will be emailed a dial-in number and unique PIN. This process will bypass the operator and avoid the queue.

    Webcast

    • Please join and register by webcast: BBU2025Q2Webcast
    • A replay of the webcast will be available on our website.

    Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have flexibility to invest in our company either through Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), a limited partnership or Brookfield Business Corporation (NYSE, TSX: BBUC), a corporation. For more information, please visit https://bbu.brookfield.com.

    Brookfield Business Partners is the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with over $1 trillion of assets under management.

    For more information, please contact:

    The MIL Network –

  • MIL-OSI: First Merchants Corporation to Report Second Quarter 2025 Financial Results, Host Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    MUNCIE, Ind., June 30, 2025 (GLOBE NEWSWIRE) — First Merchants Corporation (Nasdaq:FRME) will release second quarter 2025 financial results on July 23, 2025. The Corporation will host a second quarter 2025 earnings conference call and webcast at 9:00 a.m. (ET) on Thursday, July 24, 2025.

    To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: (https://register-conf.media-server.com/register/BI605c2e360ce04cfc9c4221bda7f67a49)

    In order to view the webcast and presentation slides, please go to (https://edge.media-server.com/mmc/p/ced58zg3) during the time of the call. A replay of the webcast will be available until July 24, 2026.  

    About First Merchants Corporation

    First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

    First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

    FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

    FOR IMMEDIATE RELEASE
    For more information, contact:
    Nicole M. Weaver, First Vice President and Director of Corporate Administration
    765-521-7619
    http://www.firstmerchants.com

    The MIL Network –

  • MIL-OSI: First Merchants Corporation to Report Second Quarter 2025 Financial Results, Host Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    MUNCIE, Ind., June 30, 2025 (GLOBE NEWSWIRE) — First Merchants Corporation (Nasdaq:FRME) will release second quarter 2025 financial results on July 23, 2025. The Corporation will host a second quarter 2025 earnings conference call and webcast at 9:00 a.m. (ET) on Thursday, July 24, 2025.

    To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: (https://register-conf.media-server.com/register/BI605c2e360ce04cfc9c4221bda7f67a49)

    In order to view the webcast and presentation slides, please go to (https://edge.media-server.com/mmc/p/ced58zg3) during the time of the call. A replay of the webcast will be available until July 24, 2026.  

    About First Merchants Corporation

    First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

    First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

    FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

    FOR IMMEDIATE RELEASE
    For more information, contact:
    Nicole M. Weaver, First Vice President and Director of Corporate Administration
    765-521-7619
    http://www.firstmerchants.com

    The MIL Network –

  • MIL-OSI USA: NASA Welcomes Axiom Mission 4 to the International Space Station

    Source: NASA

    A SpaceX Dragon spacecraft carrying the Axiom Mission 4 crew docks to the space-facing port of the International Space Station’s Harmony module on June 26. Axiom Mission 4 is the fourth all-private astronaut mission to the orbiting laboratory, welcoming commander Peggy Whitson, former NASA astronaut and director of human spaceflight at Axiom Space, ISRO (Indian Space Research Organisation) astronaut and pilot Shubhanshu Shukla, and mission specialists ESA (European Space Agency) project astronaut Sławosz Uznański-Wiśniewski of Poland and HUNOR (Hungarian to Orbit) astronaut Tibor Kapu of Hungary.
    The crew is scheduled to remain at the space station, conducting microgravity research, educational outreach, and commercial activities, for about two weeks. This mission serves as an example of the success derived from collaboration between NASA’s international partners and American commercial space companies.

    MIL OSI USA News –

  • MIL-OSI USA: HAWAI‘I GREEN BUSINESS AWARDS PROGRAM HONORS LOCAL BUSINESSES AND EVENTS FOR SUSTAINABILITY PRACTICES

    Source: US State of Hawaii

    HAWAI‘I GREEN BUSINESS AWARDS PROGRAM HONORS LOCAL BUSINESSES AND EVENTS FOR SUSTAINABILITY PRACTICES

    Posted on Jun 27, 2025 in Latest Department News, Newsroom

    STATE OF HAWAIʻI
     KA MOKU ʻĀINA O HAWAIʻI

    JOSH GREEN, M.D.
     GOVERNOR
    KE KIAʻĀINA

     

    DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM

    KA ʻOIHANA HOʻOMOHALA PĀʻOIHANA, ʻIMI WAIWAI A HOʻOMĀKAʻIKAʻI

     

    JAMES KUNANE TOKIOKA

    DIRECTOR

    KA LUNA HOʻOKELE

     

    HAWAIʻI STATE ENERGY OFFICE

    KE‘ENA HANA UILA MOKU‘ĀINA

    MARK B. GLICK

    CHIEF ENERGY OFFICER

    LUNA IKEHU

     

    2024/2025 HAWAI‘I GREEN BUSINESS AWARDS PROGRAM HONORS LOCAL BUSINESSES AND EVENTS FOR SUSTAINABILITY PRACTICES  

     

    FOR IMMEDIATE RELEASE

    June 27, 2025

     

    HONOLULU —The Hawai‘i Green Business Program (HGBP) recognized 45 Hawai‘i businesses and events today for their commitment to energy and water efficiency, waste reduction, pollution prevention and community involvement, as well as cultural and natural resource preservation.

    The 45 awardees representing six islands were recognized during the annual HGBP awards ceremony at historical Washington Place. Hosted by the Hawai‘i State Energy Office, the Honolulu Board of Water Supply and Hawaiʻi Energy, the awards program

    showcases the businesses advancing Hawaiʻi’s clean energy and sustainability goals, emphasizing energy efficiency as a key solution in accelerating Hawaiʻi’s move to renewable energy.

    Governor Josh Green, M.D., praised awardees for their commitment to sustain the ecological, cultural and economic health of Hawaiʻi, heralding lawmakers for the 2025 passage of the nation’s first climate impact fee to fund environmental stewardship and address the impacts of climate change.

    Governor Green said, “At a time when environmental protections are being repealed at the federal level, Hawaiʻi will not forfeit its commitment to a more resilient, clean economy. The businesses and organizations we recognize today honor a statewide commitment to malama ʻāina — to steward our precious natural resources for future generations.”

    “Simply put,” said Hawai’i Chief Energy Officer Mark Glick, “using less energy means we need to generate less. These 45 businesses are among the best applying efficiency to our commercial building stock and energy efficient business practices make a profound difference.”

    Newly appointed state director of energy efficiency and renewable energy Monique Zanfes concluded, “Many of the businesses in this room rely on Hawai‘i’s natural resources not just for operations, but as the foundation of what draws people here. Protecting these resources isn’t just the right thing to do — it’s essential to the long-term viability and health of Hawai‘i. I thank them for leading by example.”

    The honorees of this year’s Hawai‘i Green Business Program Awards are:

      Green Hotels, Resorts, Venue and Office Awardees:

    • Ala Moana Hotel by Mantra
    • Halekulani
    • Halepuna Waikiki
    • Hokulani, a Hilton Grand Vacations Club
    • The Kahala Hotel & Resort
    • Marriott’s Ko Olina Beach Club
    • Prince Waikiki
    • Kings’ Land, a Hilton Grand Vacations Club
    • Maui Bay Villas, a Hilton Grand Vacations Club
    • The Cliffs at Princeville
    • Four Seasons Resort O‘ahu at Ko Olina
    • Four Seasons Resort Maui at Wailea
    • Four Seasons Resort Lānaʻi
    • Sensei Lānaʻi, A Four Seasons Resort
    • Hawai‘i Convention Center
    • Waialae Country Club
    • Honeywell International/Smart Energy
    • Coradorables Sustainable Corporation

    Green Event Awardees:

    • 2024 Hawai‘i Library Association/HASL HLA Conference
    • 2025 Sony Open
    • Artist Waltz
    • Green Business Engagement National Network 7th National GBENN Summit
    • Sentry 2024 Golf Tournament

    Entry Level Program Awardees:

    • Coconut Ave
    • Drip Studio
    • The Fresh Shave
    • Hoku Foods Natural Market
    • Kilauea Bakery
    • Lady Elaine
    • Leong’s Road House
    • Little Plum
    • Uncle Paul’s Corner Store
    • Maui Juice Co.
    • Morning Glass Coffee
    • Pele’s Kitchen
    • Pu‘u O Hōkū Ranch
    • Sweet Cane Café
    • The Locavore Store
    • Oko‘a Farms Produce
    • Hanalei Spirits Distillery
    • Kaua‘i Island Brewing Co.
    • Kona Brewing Company
    • Lanikai Brewing Co.
    • Maui Brewing Company
    • Waikulu Distillery

    In one year, the energy efficiency measures of the above businesses resulted in 38.8 million gallons of water saved, 6.5 million kWh of electricity saved, 22.7 tons of green waste diverted, 12,372 tons of waste recycled,119,110 therms (1 therm = 100,000 BTUs) of gas saved, 6,725 metric tons of CO2 equivalent for electricity kWh reduced and 945 metric tons of CO2 equivalent for gas reduced.

     

     

     # # #  

      

    Media Contacts:   

     

    Yvonne Hunter

    Strategy and Marketing Officer

    Hawaiʻi State Energy Office

    Cell: 808-497-0080

    Laci Goshi

    Communications Officer

    Department of Business, Economic Development and Tourism

    Cell: 808-518-5480

    Erika Engle

    Press Secretary

    Office of the Governor, State of Hawai‘i

    Phone: 808-586-0120

    Makana McClellan

    Director of Communications

    Office of the Governor, State of Hawaiʻi

    Cell: 808-265-0083

     

                    

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom slams Trump over bill that would cut millions in health coverage, food assistance for California

    Source: US State of California 2

    Jun 27, 2025

    What you need to know: The federal Republicans’ “Big, Beautiful bill” would eliminate health coverage for up to 3.4 million Californians, cut at least $28.4 billion in federal Medicaid funding, and put food assistance at risk for the hundreds of thousands of Californians who rely on it. 

    SACRAMENTO – Governor Gavin Newsom today slammed federal Republicans over their proposed cuts to the federal Medicaid program and the Supplemental Nutrition Assistance Program (SNAP) in their “Big, Beautiful bill.” The proposed Medicaid changes and proposed federal rules regarding health care taxes would put an estimated over $28 billion dollars of federal funding at risk for California and could result in a loss of coverage for up to 3.4 million Californians. 

    Taken together, these changes will lead to hospital and clinic closures, increase uncompensated care costs, and roll back the progress California has made in reducing its uninsured rate to a recent historical low of 6.4%, threatening the state’s status as a national leader in expanding access to care.

    The bill would also cut federal funding for SNAP in California to $2.8 to $5.4 billion annually. Hundreds of thousands of Californians who need food assistance will be at risk of losing it, and it will punish working people by ending their eligibility.

    “The so-called ‘Big, Beautiful bill’ is not cost-saving. It is not smart. It is cruel, costly, and a significant encroachment on states’ rights – the opposite of what Republican leadership claims to stand for. Big government is getting bigger under Trump and Speaker Johnson, as they attempt to dictate every move states make and micromanage Americans through even greater bureaucracy. It’s dangerous, and anyone with common sense should oppose it.”

    Governor Gavin Newsom

    Impact of Medicaid cuts on California 

    Beginning January 2027, states would be required to conduct eligibility determinations for Affordable Care Act expansion adults every six months instead of every twelve months, leading to an estimated loss of $2.4 Billion in federal funds and approximately 400,000 enrollees in California. The bill would also require states to implement work requirements beginning in 2027, which would result in an estimated loss of up to $22.3 billion in federal funds and up to 3 million California enrollees. Additional federal fund losses and health care safety net impacts would occur from restrictions on provider fees and local government payments that draw down federal funds to support local health systems.

    According to Planned Parenthood, provisions in the bill would also put nearly 200 Planned Parenthood health centers at risk of closing, block 1.1 million patients from essential care like birth control and cancer screenings, and decimate abortion care access in all 50 states. 
    Taken together, these changes will lead to hospital and clinic closures, increase uncompensated care costs, and roll back the progress California has made in reducing its uninsured rate to a recent historical low of 6.4%, threatening the state’s status as a national leader in expanding access to care.

    Risks to SNAP

    The billions of dollars in SNAP cuts in California are composed of a reduction of at least $1.25 billion in federal funds due to changes in eligibility rules and the loss of an additional at least $178 million in nutrition education grants. Cost shifts in the range of $1.35 billion to $4 billion annually to the State and counties. This cost shift is due to a mandatory shift of 5 percent of food benefits cost to the state, and a mandatory 25 percent shift in program administrative costs to the state and county effective immediately. At least 735,000 recipients would be at risk of losing their CalFresh — as SNAP is known in California — benefits.

    Footage of today’s press conference with California Health and Human Services Agency Secretary Kim Johnson and California Department of Health Care Services Director Michelle Baass can be found HERE. Slides from the presentation can be found HERE.

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    Jun 27, 2025

    News Sacramento, California – Governor Gavin Newsom issued the following statement today after the U.S. Supreme Court announced its ruling on Trump v. CASA, Trump v. Washington, and Trump v. New Jersey: In a challenge to the Trump Administration’s blatantly…

    Jun 26, 2025

    News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Kira Younger, of Fair Oaks, has been appointed Chief Financial Officer and Director of the Finance and Accounting Division at the California Department of Social Services. Younger has…

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom signs balanced state budget that cuts taxes for vets, fully funds free school meals, builds more housing, & creates jobs

    Source: US State of California 2

    Jun 27, 2025

    ✅ FUNDED: Tax cut for military retirees

    ✅ FUNDED: Universal pre-kindergarten for all 

    ✅ FUNDED: Expanded before school, after school, & summer school

    ✅ FUNDED: Free school meals for all kids 

    ✅ FUNDED: Game-changing literacy & reading investments

    ✅ FUNDED: Building more housing, ASAP

    ✅ FUNDED: Lowering drug costs

    ✅ FUNDED: Expanding medication abortion access with CalRx

    ✅ FUNDED: Historic firefighting & public safety investments

    ✅ FUNDED: Protecting California’s iconic film industry

    Signing of landmark package to cut red tape, fast-track housing, and infrastructure forthcoming  

    SACRAMENTO – Amid Donald Trump’s economic assault on California, Governor Gavin Newsom today signed the 2025 state budget bill advanced in partnership with Senate President pro Tempore Mike McGuire and Speaker Robert Rivas. Together, the Governor and Legislature are enacting a responsible, balanced spending plan that safeguards California’s values while maintaining long-term fiscal health. This budget and forthcoming trailer bills include new, landmark policies that will accelerate housing production and boost affordability in communities across the state — addressing California’s most urgent challenges.

    As we confront Donald Trump’s economic sabotage, this budget agreement proves California won’t just hold the line — we’ll go even further. It’s balanced, it maintains substantial reserves, and it’s focused on supporting Californians — slashing red tape and catapulting housing and infrastructure development, preserving essential healthcare services, funds universal pre-K, and cuts taxes for veterans.

    Governor Gavin Newsom

    Pro Tem Mike McGuire says: “The State is delivering a responsible on-time budget in a challenging year focused on fiscal restraint and investing in the people and programs that make this State great. This budget prioritizes record funding for our kids and public schools, protects access to health care for millions of the most vulnerable, and will create more housing at a scale not seen in years. Thanks to this budget agreement, the state will help get more folks off the streets and into permanent shelter, and we’ll expand the ranks of CalFire, deploying hundreds of additional full-time CalFire firefighters, which will save lives and make us all more wildfire safe. And this agreement helps prepare our state for the ongoing chaos and massive uncertainty caused by the Trump administration. Thank you to our Senate Budget Chair Scott Wiener, Speaker Rivas and Governor Newsom and their staffs for their hard work for the people of California.”

    Speaker Robert Rivas says: “This is an incredibly difficult time for Californians. Trump is undermining our economy with reckless tariffs, harsh cuts, and ICE agents terrorizing our communities. At a moment when so many are already struggling, he’s adding fear and instability. In contrast, Democrats have delivered a budget that protects California. It cuts red tape to build more housing faster — because housing is the foundation of affordability and opportunity. It preserves critical investments in health care, women’s health, education, and public safety. And it honors our commitment not to raise taxes on families, workers, or small businesses. In unprecedented times, under painful circumstances, Democrats are delivering for Californians.”

    Tax cuts for vets, smaller class sizes, free school meals

    The budget reflects a shared commitment to protect opportunity and improve affordability in California, in the face of targeted attacks by the Trump administration. The budget makes historic investments in public education — from universal transitional kindergarten and free school meals to expanded before and after-school programs, summer school, smaller class sizes, and strengthened career training and higher education. The budget demonstrates the state’s commitment to honoring veterans by creating tax cuts for military retirees, recognizing their service and supporting their financial security. 

    Lowering prescription drug costs, protecting reproductive care, and safety nets 

    The budget preserves key health care programs for Californians targeted by Republicans. It preserves vital safety net programs, including in-home supportive services and women’s reproductive health. As part of the budget, the Governor is also expected to sign legislation protecting access to health care, license and regulate Pharmacy Benefit Managers for the first time, increasing transparency and accountability in the pharmacy supply chain. The legislation also expands CalRx’s authority to procure brand-name drugs and respond to politically motivated supply disruptions, helping shield access to critical medications like mifepristone.

    Lights, camera, JOBS

    The budget protects California’s position as the 4th largest economy in the world – supporting business and continued economic growth, including California’s iconic film industry. Next week, the Governor is expected to sign additional legislation as part of the expansion of the film and TV tax credit program — further catapulting the program’s impact to $750 million a year.

    Trump’s economic assault

    The balanced budget comes as California continues to confront significant fiscal pressures fueled by the Trump administration’s reckless economic and immigration policies. According to the California Department of Finance, Trump’s tariff regime is projected to cost the state an estimated $16 billion in lost General Fund revenue through the next fiscal year. And a new study released June 17 by the Bay Area Council Economic Institute, in collaboration with UC Merced, found that Trump’s mass deportations could slash $275 billion from California’s economy, eliminate $23 billion in annual tax revenue, and severely disrupt key industries such as agriculture, construction, and hospitality. 

    In the face of these mounting challenges, the Governor issued a proclamation to access state reserves. This responsible and balanced budget protects Californians, creates more housing, preserves core programs, reinforces fiscal discipline, and invests in the state’s long-term economic strength.

    The Governor today announced signing the following bills:

    • AB 102 by Assemblymember Jesse Gabriel (D-Encino) – Budget Act of 2025.
    • AB 118 by the Committee on Budget – Human services.
    • AB 121 by the Committee on Budget – Education finance: education omnibus budget trailer bill.
    • AB 123 by the Committee on Budget – Higher education budget trailer bill.
    • AB 134 by the Committee on Budget – Public Safety.
    • AB 136 by the Committee on Budget – Courts.
    • AB 143 by the Committee on Budget – Developmental services.
    • SB 101 by the Senator Scott Wiener (D-San Francisco) – Budget Act of 2025.
    • SB 103 by the Senator Scott Wiener (D-San Francisco) – Budget Acts of 2022, 2023, and 2024.
    • SB 120 by the Committee on Budget and Fiscal Review – Early childhood education and childcare.
    • SB 124 by the Committee on Budget and Fiscal Review – Public resources trailer bill.
    • SB 127 by the Committee on Budget and Fiscal Review – Climate change.
    • SB 128 by the Committee on Budget and Fiscal Review – Transportation.
    • SB 132 by the Committee on Budget and Fiscal Review – Taxation.
    • SB 141 by the Committee on Budget and Fiscal Review – California Cannabis Tax Fund: Department of Cannabis Control: Board of State and Community Corrections grants.
    • SB 142 by the Committee on Budget and Fiscal Review – Deaf and Disabled Telecommunications Program.

    The Governor’s signature on the state budget is contingent on the enactment of either AB 131 or SB 131 on Monday, June 30th.

    Para leer este comunicado en español, haga clic aquí.

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    Jun 27, 2025

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    Jun 27, 2025

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    MIL OSI USA News –

  • Govt drafts emission targets for over 460 industries under carbon market plan

    Source: Government of India

    Source: Government of India (4)

    The Ministry of Environment has issued a draft notification proposing legally binding greenhouse gas (GHG) emission targets for over 460 industrial units as part of India’s first compliance-based carbon market.

    The move, aimed at curbing industrial emissions and accelerating decarbonisation, will apply to sectors such as aluminium, iron and steel, petroleum refining, petrochemicals, and textiles.

    Titled the Greenhouse Gas Emission Intensity Target Rules, 2025, the draft, dated June 23, forms part of the Carbon Credit Trading Scheme (CCTS), 2023.

    The scheme requires designated industries – referred to as “obligated entities” – to reduce their GHG emissions per unit of output over time, or compensate by purchasing carbon credit certificates from the Indian Carbon Market.

    According to the draft, “The obligated entity shall achieve the Greenhouse Gases Emissions Intensity (GEI) targets in the respective compliance year… or meet its GEI target by purchasing carbon credit certificates from the Indian carbon market.”

    If implemented, the targets will become legally enforceable from the date of final notification.

    As per the draft, failure to comply will attract financial penalties and legal consequences under the Environment (Protection) Act, 1986.

    The targets will be assigned for two compliance years – 2025-26 and 2026-27 – based on baseline emission intensity data from 2023-24.

    The draft includes a list of 264 industrial units along with their baseline emission levels and reduction targets for the compliance years 2025-26 and 2026-27.

    The Bureau of Energy Efficiency (BEE) will determine these targets using sectoral benchmarks and past performance. Greenhouse gas emission intensity (GEI) is defined as tonnes of CO2 equivalent emitted per unit of output or product.

    For example, Hindalco Industries’ Taloja aluminium plant in Maharashtra, which had a baseline GEI of 1.3386 tCO2 per tonne in 2023-24, must reduce that figure to 1.2563 by 2026-27. In the steel sector, Arcelor Mittal Nippon Steel India’s Hazira facility – India’s largest obligated entity by production volume – must cut its emission intensity from 2.2701 to 2.1696 tCO2 per tonne during the same period.

    The rules also cover the petroleum refining sector. BPCL’s Bina Refinery in Madhya Pradesh, with a crude throughput of over 51 million barrels, has been assigned a GEI reduction trajectory from 5.2312 tCO2/MBBLS in 2023-24 to 4.8553 by 2026-27. BPCL’s Kochi
    Refinery, one of the largest in the country, must bring down its GEI from 4.5745 to 4.4230 tCO2/MBBLS in the same time frame.

    Entities that emit less than their targets will receive carbon credit certificates, calculated as the difference between the GEI target and actual GEI, multiplied by the total production volume.

    Conversely, those exceeding their targets must buy the difference in credits from the Indian Carbon Market. “The number of carbon credit certificates to be issued… shall be determined as per the following formula: (GEI Target – GEI Achieved) x Unit of equivalent product produced,” the draft states.

    Unused credits can be banked for future use, allowing companies some flexibility across compliance years.

    However, if an entity fails to meet its target and does not purchase the required credits, the Central Pollution Control Board (CPCB) will impose an Environmental Compensation.

    This amount will be “equal to twice the average price at which a carbon credit certificate is traded during the trading cycle,” as per the notification. The penalty must be paid within 90 days.

    Funds collected will be used to support carbon market operations, upon recommendation of the National Steering Committee and approval of the Centre.

    The ministry has invited comments, objections, or suggestions from the public and industry stakeholders. Submissions must be made within 60 days of the draft’s publication and can be emailed to ccts.hsm-moefcc@gov.in.

    (ANI)

  • Govt drafts emission targets for over 460 industries under carbon market plan

    Source: Government of India

    Source: Government of India (4)

    The Ministry of Environment has issued a draft notification proposing legally binding greenhouse gas (GHG) emission targets for over 460 industrial units as part of India’s first compliance-based carbon market.

    The move, aimed at curbing industrial emissions and accelerating decarbonisation, will apply to sectors such as aluminium, iron and steel, petroleum refining, petrochemicals, and textiles.

    Titled the Greenhouse Gas Emission Intensity Target Rules, 2025, the draft, dated June 23, forms part of the Carbon Credit Trading Scheme (CCTS), 2023.

    The scheme requires designated industries – referred to as “obligated entities” – to reduce their GHG emissions per unit of output over time, or compensate by purchasing carbon credit certificates from the Indian Carbon Market.

    According to the draft, “The obligated entity shall achieve the Greenhouse Gases Emissions Intensity (GEI) targets in the respective compliance year… or meet its GEI target by purchasing carbon credit certificates from the Indian carbon market.”

    If implemented, the targets will become legally enforceable from the date of final notification.

    As per the draft, failure to comply will attract financial penalties and legal consequences under the Environment (Protection) Act, 1986.

    The targets will be assigned for two compliance years – 2025-26 and 2026-27 – based on baseline emission intensity data from 2023-24.

    The draft includes a list of 264 industrial units along with their baseline emission levels and reduction targets for the compliance years 2025-26 and 2026-27.

    The Bureau of Energy Efficiency (BEE) will determine these targets using sectoral benchmarks and past performance. Greenhouse gas emission intensity (GEI) is defined as tonnes of CO2 equivalent emitted per unit of output or product.

    For example, Hindalco Industries’ Taloja aluminium plant in Maharashtra, which had a baseline GEI of 1.3386 tCO2 per tonne in 2023-24, must reduce that figure to 1.2563 by 2026-27. In the steel sector, Arcelor Mittal Nippon Steel India’s Hazira facility – India’s largest obligated entity by production volume – must cut its emission intensity from 2.2701 to 2.1696 tCO2 per tonne during the same period.

    The rules also cover the petroleum refining sector. BPCL’s Bina Refinery in Madhya Pradesh, with a crude throughput of over 51 million barrels, has been assigned a GEI reduction trajectory from 5.2312 tCO2/MBBLS in 2023-24 to 4.8553 by 2026-27. BPCL’s Kochi
    Refinery, one of the largest in the country, must bring down its GEI from 4.5745 to 4.4230 tCO2/MBBLS in the same time frame.

    Entities that emit less than their targets will receive carbon credit certificates, calculated as the difference between the GEI target and actual GEI, multiplied by the total production volume.

    Conversely, those exceeding their targets must buy the difference in credits from the Indian Carbon Market. “The number of carbon credit certificates to be issued… shall be determined as per the following formula: (GEI Target – GEI Achieved) x Unit of equivalent product produced,” the draft states.

    Unused credits can be banked for future use, allowing companies some flexibility across compliance years.

    However, if an entity fails to meet its target and does not purchase the required credits, the Central Pollution Control Board (CPCB) will impose an Environmental Compensation.

    This amount will be “equal to twice the average price at which a carbon credit certificate is traded during the trading cycle,” as per the notification. The penalty must be paid within 90 days.

    Funds collected will be used to support carbon market operations, upon recommendation of the National Steering Committee and approval of the Centre.

    The ministry has invited comments, objections, or suggestions from the public and industry stakeholders. Submissions must be made within 60 days of the draft’s publication and can be emailed to ccts.hsm-moefcc@gov.in.

    (ANI)

  • Govt drafts emission targets for over 460 industries under carbon market plan

    Source: Government of India

    Source: Government of India (4)

    The Ministry of Environment has issued a draft notification proposing legally binding greenhouse gas (GHG) emission targets for over 460 industrial units as part of India’s first compliance-based carbon market.

    The move, aimed at curbing industrial emissions and accelerating decarbonisation, will apply to sectors such as aluminium, iron and steel, petroleum refining, petrochemicals, and textiles.

    Titled the Greenhouse Gas Emission Intensity Target Rules, 2025, the draft, dated June 23, forms part of the Carbon Credit Trading Scheme (CCTS), 2023.

    The scheme requires designated industries – referred to as “obligated entities” – to reduce their GHG emissions per unit of output over time, or compensate by purchasing carbon credit certificates from the Indian Carbon Market.

    According to the draft, “The obligated entity shall achieve the Greenhouse Gases Emissions Intensity (GEI) targets in the respective compliance year… or meet its GEI target by purchasing carbon credit certificates from the Indian carbon market.”

    If implemented, the targets will become legally enforceable from the date of final notification.

    As per the draft, failure to comply will attract financial penalties and legal consequences under the Environment (Protection) Act, 1986.

    The targets will be assigned for two compliance years – 2025-26 and 2026-27 – based on baseline emission intensity data from 2023-24.

    The draft includes a list of 264 industrial units along with their baseline emission levels and reduction targets for the compliance years 2025-26 and 2026-27.

    The Bureau of Energy Efficiency (BEE) will determine these targets using sectoral benchmarks and past performance. Greenhouse gas emission intensity (GEI) is defined as tonnes of CO2 equivalent emitted per unit of output or product.

    For example, Hindalco Industries’ Taloja aluminium plant in Maharashtra, which had a baseline GEI of 1.3386 tCO2 per tonne in 2023-24, must reduce that figure to 1.2563 by 2026-27. In the steel sector, Arcelor Mittal Nippon Steel India’s Hazira facility – India’s largest obligated entity by production volume – must cut its emission intensity from 2.2701 to 2.1696 tCO2 per tonne during the same period.

    The rules also cover the petroleum refining sector. BPCL’s Bina Refinery in Madhya Pradesh, with a crude throughput of over 51 million barrels, has been assigned a GEI reduction trajectory from 5.2312 tCO2/MBBLS in 2023-24 to 4.8553 by 2026-27. BPCL’s Kochi
    Refinery, one of the largest in the country, must bring down its GEI from 4.5745 to 4.4230 tCO2/MBBLS in the same time frame.

    Entities that emit less than their targets will receive carbon credit certificates, calculated as the difference between the GEI target and actual GEI, multiplied by the total production volume.

    Conversely, those exceeding their targets must buy the difference in credits from the Indian Carbon Market. “The number of carbon credit certificates to be issued… shall be determined as per the following formula: (GEI Target – GEI Achieved) x Unit of equivalent product produced,” the draft states.

    Unused credits can be banked for future use, allowing companies some flexibility across compliance years.

    However, if an entity fails to meet its target and does not purchase the required credits, the Central Pollution Control Board (CPCB) will impose an Environmental Compensation.

    This amount will be “equal to twice the average price at which a carbon credit certificate is traded during the trading cycle,” as per the notification. The penalty must be paid within 90 days.

    Funds collected will be used to support carbon market operations, upon recommendation of the National Steering Committee and approval of the Centre.

    The ministry has invited comments, objections, or suggestions from the public and industry stakeholders. Submissions must be made within 60 days of the draft’s publication and can be emailed to ccts.hsm-moefcc@gov.in.

    (ANI)

  • India’s overseas financial assets see robust growth in FY25, RBI data shows

    Source: Government of India

    Source: Government of India (4)

    India recorded a notable expansion in its overseas financial assets during the financial year 2024–25, largely driven by stronger overseas direct investments, higher holdings in currency and deposits, and a rise in reserve assets, according to the latest data released by the Reserve Bank of India (RBI).

    More than 72 per cent of the total increase in India’s foreign financial assets came from these three components, with reserve assets alone contributing over half the growth. The central bank noted that currency and deposits, along with direct investments abroad, also made significant contributions to this expansion.

    “Over 72 per cent of the rise in India’s overseas financial assets was due to an increase in overseas direct investment, currency and deposits,” the RBI said.

    In absolute terms, India’s total external financial assets rose by USD 105.4 billion during FY25. By contrast, the country’s external financial liabilities increased by USD 74.2 billion. This resulted in net claims of non-residents on India declining by USD 31.2 billion over the year.

    The RBI report pointed out that this decline was largely due to a sharper increase in Indian residents’ overseas financial assets—up by USD 60.0 billion—compared to the rise in foreign-owned assets in India, which stood at USD 25.8 billion during the January–March 2025 quarter.

    Reflecting this trend, the ratio of India’s international financial assets to its international financial liabilities improved to 77.5 per cent in March 2025, up from 74.1 per cent a year earlier. This indicates a strengthening of India’s external financial position, offering greater stability in the country’s balance of payments.

    On the liability side, inward direct investments, loans, and currency and deposits remained key drivers. Inward direct investment and loans together made up more than three-fourths of the rise in foreign liabilities of Indian residents in the January–March 2025 period. Loans increased by USD 10.0 billion, while inward direct investments rose by USD 9.7 billion during the quarter.

    -ANI

  • India’s overseas financial assets see robust growth in FY25, RBI data shows

    Source: Government of India

    Source: Government of India (4)

    India recorded a notable expansion in its overseas financial assets during the financial year 2024–25, largely driven by stronger overseas direct investments, higher holdings in currency and deposits, and a rise in reserve assets, according to the latest data released by the Reserve Bank of India (RBI).

    More than 72 per cent of the total increase in India’s foreign financial assets came from these three components, with reserve assets alone contributing over half the growth. The central bank noted that currency and deposits, along with direct investments abroad, also made significant contributions to this expansion.

    “Over 72 per cent of the rise in India’s overseas financial assets was due to an increase in overseas direct investment, currency and deposits,” the RBI said.

    In absolute terms, India’s total external financial assets rose by USD 105.4 billion during FY25. By contrast, the country’s external financial liabilities increased by USD 74.2 billion. This resulted in net claims of non-residents on India declining by USD 31.2 billion over the year.

    The RBI report pointed out that this decline was largely due to a sharper increase in Indian residents’ overseas financial assets—up by USD 60.0 billion—compared to the rise in foreign-owned assets in India, which stood at USD 25.8 billion during the January–March 2025 quarter.

    Reflecting this trend, the ratio of India’s international financial assets to its international financial liabilities improved to 77.5 per cent in March 2025, up from 74.1 per cent a year earlier. This indicates a strengthening of India’s external financial position, offering greater stability in the country’s balance of payments.

    On the liability side, inward direct investments, loans, and currency and deposits remained key drivers. Inward direct investment and loans together made up more than three-fourths of the rise in foreign liabilities of Indian residents in the January–March 2025 period. Loans increased by USD 10.0 billion, while inward direct investments rose by USD 9.7 billion during the quarter.

    -ANI

  • MIL-OSI USA: Governor Newsom signs balanced state budget that cuts taxes for vets, fully funds free school meals, builds more housing, & creates jobs

    Source: US State of California 2

    Jun 27, 2025

    ✅ FUNDED: Tax cut for military retirees

    ✅ FUNDED: Universal pre-kindergarten for all 

    ✅ FUNDED: Expanded before school, after school, & summer school

    ✅ FUNDED: Free school meals for all kids 

    ✅ FUNDED: Game-changing literacy & reading investments

    ✅ FUNDED: Building more housing, ASAP

    ✅ FUNDED: Lowering drug costs

    ✅ FUNDED: Expanding medication abortion access with CalRx

    ✅ FUNDED: Historic firefighting & public safety investments

    ✅ FUNDED: Protecting California’s iconic film industry

    Signing of landmark package to cut red tape, fast-track housing, and infrastructure forthcoming  

    SACRAMENTO – Amid Donald Trump’s economic assault on California, Governor Gavin Newsom today signed the 2025 state budget bill advanced in partnership with Senate President pro Tempore Mike McGuire and Speaker Robert Rivas. Together, the Governor and Legislature are enacting a responsible, balanced spending plan that safeguards California’s values while maintaining long-term fiscal health. This budget and forthcoming trailer bills include new, landmark policies that will accelerate housing production and boost affordability in communities across the state — addressing California’s most urgent challenges.

    As we confront Donald Trump’s economic sabotage, this budget agreement proves California won’t just hold the line — we’ll go even further. It’s balanced, it maintains substantial reserves, and it’s focused on supporting Californians — slashing red tape and catapulting housing and infrastructure development, preserving essential healthcare services, funds universal pre-K, and cuts taxes for veterans.

    Governor Gavin Newsom

    Pro Tem Mike McGuire says: “The State is delivering a responsible on-time budget in a challenging year focused on fiscal restraint and investing in the people and programs that make this State great. This budget prioritizes record funding for our kids and public schools, protects access to health care for millions of the most vulnerable, and will create more housing at a scale not seen in years. Thanks to this budget agreement, the state will help get more folks off the streets and into permanent shelter, and we’ll expand the ranks of CalFire, deploying hundreds of additional full-time CalFire firefighters, which will save lives and make us all more wildfire safe. And this agreement helps prepare our state for the ongoing chaos and massive uncertainty caused by the Trump administration. Thank you to our Senate Budget Chair Scott Wiener, Speaker Rivas and Governor Newsom and their staffs for their hard work for the people of California.”

    Speaker Robert Rivas says: “This is an incredibly difficult time for Californians. Trump is undermining our economy with reckless tariffs, harsh cuts, and ICE agents terrorizing our communities. At a moment when so many are already struggling, he’s adding fear and instability. In contrast, Democrats have delivered a budget that protects California. It cuts red tape to build more housing faster — because housing is the foundation of affordability and opportunity. It preserves critical investments in health care, women’s health, education, and public safety. And it honors our commitment not to raise taxes on families, workers, or small businesses. In unprecedented times, under painful circumstances, Democrats are delivering for Californians.”

    Tax cuts for vets, smaller class sizes, free school meals

    The budget reflects a shared commitment to protect opportunity and improve affordability in California, in the face of targeted attacks by the Trump administration. The budget makes historic investments in public education — from universal transitional kindergarten and free school meals to expanded before and after-school programs, summer school, smaller class sizes, and strengthened career training and higher education. The budget demonstrates the state’s commitment to honoring veterans by creating tax cuts for military retirees, recognizing their service and supporting their financial security. 

    Lowering prescription drug costs, protecting reproductive care, and safety nets 

    The budget preserves key health care programs for Californians targeted by Republicans. It preserves vital safety net programs, including in-home supportive services and women’s reproductive health. As part of the budget, the Governor is also expected to sign legislation protecting access to health care, license and regulate Pharmacy Benefit Managers for the first time, increasing transparency and accountability in the pharmacy supply chain. The legislation also expands CalRx’s authority to procure brand-name drugs and respond to politically motivated supply disruptions, helping shield access to critical medications like mifepristone.

    Lights, camera, JOBS

    The budget protects California’s position as the 4th largest economy in the world – supporting business and continued economic growth, including California’s iconic film industry. Next week, the Governor is expected to sign additional legislation as part of the expansion of the film and TV tax credit program — further catapulting the program’s impact to $750 million a year.

    Trump’s economic assault

    The balanced budget comes as California continues to confront significant fiscal pressures fueled by the Trump administration’s reckless economic and immigration policies. According to the California Department of Finance, Trump’s tariff regime is projected to cost the state an estimated $16 billion in lost General Fund revenue through the next fiscal year. And a new study released June 17 by the Bay Area Council Economic Institute, in collaboration with UC Merced, found that Trump’s mass deportations could slash $275 billion from California’s economy, eliminate $23 billion in annual tax revenue, and severely disrupt key industries such as agriculture, construction, and hospitality. 

    In the face of these mounting challenges, the Governor issued a proclamation to access state reserves. This responsible and balanced budget protects Californians, creates more housing, preserves core programs, reinforces fiscal discipline, and invests in the state’s long-term economic strength.

    The Governor today announced signing the following bills:

    • AB 102 by Assemblymember Jesse Gabriel (D-Encino) – Budget Act of 2025.
    • AB 118 by the Committee on Budget – Human services.
    • AB 121 by the Committee on Budget – Education finance: education omnibus budget trailer bill.
    • AB 123 by the Committee on Budget – Higher education budget trailer bill.
    • AB 134 by the Committee on Budget – Public Safety.
    • AB 136 by the Committee on Budget – Courts.
    • AB 143 by the Committee on Budget – Developmental services.
    • SB 101 by the Senator Scott Wiener (D-San Francisco) – Budget Act of 2025.
    • SB 103 by the Senator Scott Wiener (D-San Francisco) – Budget Acts of 2022, 2023, and 2024.
    • SB 120 by the Committee on Budget and Fiscal Review – Early childhood education and childcare.
    • SB 124 by the Committee on Budget and Fiscal Review – Public resources trailer bill.
    • SB 127 by the Committee on Budget and Fiscal Review – Climate change.
    • SB 128 by the Committee on Budget and Fiscal Review – Transportation.
    • SB 132 by the Committee on Budget and Fiscal Review – Taxation.
    • SB 141 by the Committee on Budget and Fiscal Review – California Cannabis Tax Fund: Department of Cannabis Control: Board of State and Community Corrections grants.
    • SB 142 by the Committee on Budget and Fiscal Review – Deaf and Disabled Telecommunications Program.

    The Governor’s signature on the state budget is contingent on the enactment of either AB 131 or SB 131 on Monday, June 30th.

    Para leer este comunicado en español, haga clic aquí.

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  • MIL-OSI Africa: Kosmos Energy and Partners Achieve Commercial Operations at Greater Tortue Ahmeyim (GTA) Liquefied Natural Gas (LNG) Project

    The project partners on the Greater Tortue Ahmeyim (GTA) LNG development – situated on the maritime border of Senegal and Mauritania – have started commercial operations. The Gimi FLNG vessel – owned by maritime infrastructure company Golar LNG and situated at the project site – reached its Commercial Operating Date (COD) in June 2025, signaling the start of a 20-year Lease and Operating Agreement.

    Spearheaded by energy majors Kosmos Energy and bp (operator), alongside Petrosen and Société Mauritanienne Des Hydrocarbures – the respective national oil companies of Senegal and Mauritania – the GTA project represents one of the lowest-cost greenfield projects in the world. The project achieved first LNG production in February 2025, with the maiden LNG cargo lifted in April 2025. According to Kosmos Energy, COD comes as the partners currently load a fourth cargo, with plans to export a fifth at the start of Q3. Kosmos Energy is a Diamond Sponsor of African Energy Week (AEW): Invest in African Energies, taking place September 29 to October 3, 2025, in Cape Town.

    AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

    The first major offshore LNG project in the broader MSGBC region, GTA is expected to unlock more than 15 trillion cubic feet of recoverable natural gas resources. The project reached a final investment decision (FID) in 2018, with the respective governments of Senegal and Mauritania declaring that the project is of “strategic national importance” in 2021. To date, the project partners have ramped up production volumes to a level equivalent to the annual contracted volumes of approximately 2.4 million tons per annum (mtpa). This represents 90% of the nameplate capacity of 2.7 mtpa. A second phase is also planned, which seeks to double production capacity to over 5 mtpa. Focus has now shifted to phase two FID, which will largely depend on continued cross-border cooperation, regulatory alignment and additional investment.

    Beyond GTA, Kosmos Energy holds a strong presence across Africa. The company is engaged in upstream oil exploration, production and development, with a focus on unlocking the continent’s deepwater assets. In Equatorial Guinea, the company is working towards increasing oil production through well work and drilling. Alongside its project partners, Kosmos Energy recently completed an infill drilling program on the Ceiba and Okume fields and is now working to reprocess existing seismic data with modern technology to high-grade future infill drilling potential. In Ghana, the company has pledged $2 billion in upstream operations. The funding is expected to be allocated to expanding exploration, improving infrastructure and driving technology development to boost efficiency in the upstream sector. Kosmos Energy currently holds stakes in the country’s Jubilee and TEN fields.

    Looking ahead, these developments are expected to unlock significant benefits for the countries in which Kosmos Energy operates. By unlocking greater value from Africa’s deepwater oil and gas basins, the company is enhancing revenue generation, job creation and broader economic growth in Africa. Kosmos Energy’s AEW: Invest in African Energies 2025 sponsorship reflects its commitment to monetizing Africa’s deepwater resources. As the largest event of its kind on the continent, AEW: Invest in African Energies 2025 takes place under a mandate to make energy poverty history. The event convenes stakeholders – from global investors and project developers to technologies providers and service firms – to engage in dialogue and sign deals.

    Distributed by APO Group on behalf of African Energy Chamber.

    MIL OSI Africa –

  • MIL-OSI Africa: South Africa’s Platinum Group Metals (PGMs) Sector in Focus as Isondo Precious Metals Chief Executive Officer (CEO) Joins African Mining Week (AMW)


    Download logo

    Vinay Somera, CEO of South African fuel cell component manufacturer Isondo Precious Metals has joined the upcoming African Mining Week (AMW) 2025 – Africa’s premier gathering for mining stakeholders – as a speaker.

    Somera will join a high-level panel, South Africa’s Strategic Influence in the Global Platinum Group Metals (PGMs) Market, where he is expected to highlight efforts to maximize PGM production in South Africa. With the country supplying roughly 80% of the world’s PGMs –essential for electric vehicle and clean energy development – AMW 2025 will unpack the country’s strategic position in the global market, especially as the world enters its third consecutive year of supply deficits – expected to reach 848,000 ounces in 2025.

    African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

    At AMW 2025, Somera is set to showcase how Isondo Precious Metals is producing membranes for green hydrogen fuel cells and electrolyzers using South African-sourced PGMs. Under his leadership, the company is scaling its fuel cell manufacturing capabilities and working with international partners on infrastructure development and workforce training. Isondo Precious Metals recently acquired hydrogen reduction equipment from U.S.-based Camco Furnaces and two test stations from Greenlight Innovations, where it is also conducting workforce development initiatives.

    As such, AMW 2025 represents an ideal platform for Somera to provide an update on Isondo Precious Metals’ strategy to deploy hydrogen refueling stations for hydrogen-powered buses and vehicles in South Africa. As Isondo Precious Metals advances its proof of concept for a new ammonia cracking generator, AMW 2025 offers a strategic platform for Somera to present the company’s investment and expansion plans to a targeted audience of South African, regional and global investors and partners.

    Distributed by APO Group on behalf of Energy Capital & Power.

    MIL OSI Africa –

  • MIL-OSI Africa: Gauteng government to pay second e-tolls debt instalment

    Source: South Africa News Agency

    The Gauteng Provincial Government (GPG) is expected to today pay some R3.3 billion to service the outstanding e-tolls debt.

    This was announced by Gauteng MEC for Finance and Economic Development, Lebogang Maile, during a media briefing on Sunday.

    E-tolls were scrapped last year following years of discontent from road users in an agreement between the provincial government and National Treasury.

    The GPG committed to paying some 30% of the historic debt.

    “… The Gauteng Provincial Government will honour the province’s obligation by paying the second instalment towards the e-tolls debt, as disclosed in the 2025 Medium Term Expenditure Framework. 

    “The amount due… based on the Memorandum of Agreement, is R3.3 billion in terms of the historic debt. This is the amount that we will be paying to National Treasury as part of our 30% contribution,” Maile said.

    This will be the provincial government’s second instalment.

    “On the 30th of September 2024, the Gauteng government made the first instalment amounting to R3.8 billion. This instalment consisted of R3.2 billion historic debt and the maintenance portion of R546 million,” Maile said.

    According to the MEC, the 30% allocated to the provincial government for payment amounts to at least R12 billion, “with interest of R3.3 billion, bringing the total amount payable to R15.9 billion”.

    “This contribution will be made over five equal annual [payments] at government five-year interest rate.

    “In addition… the Gauteng Provincial Government also made a commitment to contribute towards the rehabilitation of nine projects that the [South African National Roads Agency] is undertaking. These projects, which are part of the Gauteng Freeway Improvement Project 1, are aimed at the amelioration of the Gauteng freeway network and will cost the provincial government a total of R4.1 billion.

    “Congruent to this… the Gauteng Provincial Government announced that as part of the province’s arrangement to service the debt, a provision for honouring this commitment will be pencilled into the 2024 fiscal framework. 

    “Since making this announcement… we have maintained the necessary fiscal discipline to ensure adherence to this commitment,” Maile said.  – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI: Hut 8 Energizes Vega Data Center

    Source: GlobeNewswire (MIL-OSI)

    205 MW facility will support up to ~15 EH/s of next-generation rack-based ASIC compute with direct-to-chip liquid cooling

    Believed to be the largest single-building Bitcoin mining facility by nameplate hashrate

    MIAMI, June 30, 2025 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today announced the initial energization of Vega. Based on publicly available information, we believe Vega to be the largest single-building Bitcoin mining facility by nameplate hashrate. Spanning the equivalent of five football fields and covering 162,000 square feet, Vega is powered by 205 megawatts (“MW”) of nameplate energy capacity and at full energization will support up to ~15 exahash per second (“EH/s”) of BITMAIN U3S21EXPH servers for Bitcoin mining ASIC compute, or nearly 2.0% of current global Bitcoin network hashrate.

    Vega debuts a new Tier I data center form factor that narrows the gap between legacy air-cooled ASIC infrastructure and liquid-cooled GPU infrastructure. Unlike traditional mining facilities that rely on forced-air cooling and shelving systems that constrain compute density, Vega features a proprietary, rack-based, direct-to-chip liquid cooling system designed in-house by Hut 8. The architecture supports ASIC deployments at densities of up to 180 kilowatts (“kW”) per rack.

    The system’s modular architecture—including pump skids, fluid distribution networks, server racks, switchboards, and smart power distribution units—was designed by Hut 8’s in-house development organization to optimize thermal efficiency, miner stability, and operational reliability. The result is materially higher compute density, greater thermal control, and improved uptime in high-ambient environments like Texas. Initial customer discussions support the potential viability of this architecture for future iterations of high-density, direct-to-chip liquid cooled infrastructure to support emerging HPC workloads and customer needs.

    “Vega exemplifies our innovation-driven approach to digital infrastructure design,” said Asher Genoot, CEO of Hut 8. “We built it for where we believe the market is going, using modular architecture and adaptive thermal systems designed to scale and evolve as workload requirements grow more complex. Over the past several weeks, as we’ve brought the site online, it has become clear how well this architecture performs under real-world conditions.”

    “Vega’s design is particularly relevant for AI training and other non-customer-facing HPC workloads, where we believe speed, density, and cost efficiency will increasingly take precedence over traditional redundancy standards,” said Jake Palmer, Senior Vice President of Development at Hut 8. “The project represents a design philosophy we intend to scale, refine, and deploy as we continue to bridge the gap between high-cost, high-redundancy builds and lower-cost, application-optimized infrastructure.”

    BITMAIN is the client for the full ~15 EH/s deployment at Vega under an ASIC colocation agreement. Based on ERCOT forward energy prices, the agreement is expected to generate between $110 million and $120 million in annualized revenue upon full energization, subject to factors including ERCOT energy pricing and facility uptime. The agreement also includes a purchase option that allows Hut 8 to acquire all or part of the hosted fleet in up to three tranches at a fixed price, exercisable within six months of each tranche’s energization. This structure gives Hut 8 the ability to convert the deployment into self-mining capacity for its Bitcoin mining subsidiary, American Bitcoin Corp., supporting growth in its scale from 10 EH/s to 25 EH/s.

    “We are proud to have partnered with Hut 8 to successfully develop and commercialize the next generation of ASIC compute technology,” said Irene Gao, Vice President of Mining at BITMAIN. “Vega demonstrates what is possible when two industry leaders with deep technical expertise come together to push the boundaries of performance, efficiency, and design. We believe this collaboration has set a new benchmark for the industry, and we look forward to expanding on this success in the coming years.”

    Project Highlights

    • Industrial scale: 205 MW of nameplate capacity with a power usage effectiveness (“PUE”) of 1.06, powered behind-the-meter by a wind farm and front-of-the-meter by the ERCOT grid
    • Rack-based architecture: Proprietary rack-based architecture supports 180 kilowatts per rack, 50% higher than the 120-kW requirement of NVIDIA Blackwell HGX GPUs
    • Next-generation ASIC compute technology: Site will host up to 17,280 BITMAIN U3S21EXPH servers (at full energization), the first ASIC miner mass-commercialized by BITMAIN with direct liquid-to-chip cooling within a U form factor, each delivering up to 860 terahash per second (“TH/s”) at 13 joules per terahash (“J/TH”)
    • Direct-to-chip liquid cooling: 96 custom-designed cooling modules circulate 120,000 gallons of glycol-water solution through a closed-loop, reverse return system designed to reduce water consumption versus conventional high-density cooling systems
    • Capital efficiency: Estimated all-in cost of approximately $430,000 to $450,000 per MW of nameplate capacity
    • Time to market: From site acquisition in July 2024 to initial energization in June 2025, Vega was brought online in under a year, demonstrating Hut 8’s ability to use Bitcoin mining infrastructure development to rapidly monetize power assets
    • Commercialization through ASIC Colocation: BITMAIN will consume the full ~15 EH/s deployment at full energization pursuant to a colocation agreement that will generate revenue for Hut 8’s Digital Infrastructure segment and includes a purchase option that, if exercised, would enable American Bitcoin to scale its self-mining capacity from 10 to ~25 EH/s

    About Hut 8 

    Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit www.hut8.com and follow us on X at @Hut8Corp.

    Cautionary Note Regarding Forward–Looking Information

    This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the ability of the Vega facility to support up to ~15 EH/s of next-generation rack-based ASIC compute with direct-to-chip liquid cooling, the ability of Vega’s new Tier I data center form factor to narrow the gap between legacy air-cooled ASIC infrastructure and liquid-cooled GPU infrastructure, the ability of the infrastructure at the Vega facility to support ASIC deployments at densities of up to 180 kW per rack, the ability of the facility’s modular infrastructure to scale and evolve as workload requirements grow more complex, the performance of the infrastructure deployed at the Vega facility under real-world conditions, the relevance of the Vega design to AI training and other non-customer-facing HPC workloads, Hut 8’s intention to scale, refine, and deploy its design philosophy to bridge the gap between high-cost, high-redundancy builds and lower-cost, application-optimized infrastructure, the estimated revenues from the Bitmain colocation agreement and the factors impacting such revenues, the potential exercise of the ASIC purchase option and the benefits thereof to Hut 8 and American Bitcoin Corp., the total all-in cost to develop the Vega facility, and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely,” or similar expressions.

    Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company’s filings with the U.S. Securities and Exchange Commission. In particular, see the Company’s recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company’s EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca.

    Hut 8 Corp. Investor Relations
    Sue Ennis
    ir@hut8.com

    Hut 8 Corp. Public Relations
    Gautier Lemyze-Young
    media@hut8.com

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/99a463ce-e274-4ee7-a8e4-e134abc19825

    https://www.globenewswire.com/NewsRoom/AttachmentNg/30d0ece1-8f33-4444-b754-a4c5f49538e5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/33bbd349-a468-455f-b11a-8cbaaad40232

    The MIL Network –

  • MIL-OSI: Hut 8 Energizes Vega Data Center

    Source: GlobeNewswire (MIL-OSI)

    205 MW facility will support up to ~15 EH/s of next-generation rack-based ASIC compute with direct-to-chip liquid cooling

    Believed to be the largest single-building Bitcoin mining facility by nameplate hashrate

    MIAMI, June 30, 2025 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today announced the initial energization of Vega. Based on publicly available information, we believe Vega to be the largest single-building Bitcoin mining facility by nameplate hashrate. Spanning the equivalent of five football fields and covering 162,000 square feet, Vega is powered by 205 megawatts (“MW”) of nameplate energy capacity and at full energization will support up to ~15 exahash per second (“EH/s”) of BITMAIN U3S21EXPH servers for Bitcoin mining ASIC compute, or nearly 2.0% of current global Bitcoin network hashrate.

    Vega debuts a new Tier I data center form factor that narrows the gap between legacy air-cooled ASIC infrastructure and liquid-cooled GPU infrastructure. Unlike traditional mining facilities that rely on forced-air cooling and shelving systems that constrain compute density, Vega features a proprietary, rack-based, direct-to-chip liquid cooling system designed in-house by Hut 8. The architecture supports ASIC deployments at densities of up to 180 kilowatts (“kW”) per rack.

    The system’s modular architecture—including pump skids, fluid distribution networks, server racks, switchboards, and smart power distribution units—was designed by Hut 8’s in-house development organization to optimize thermal efficiency, miner stability, and operational reliability. The result is materially higher compute density, greater thermal control, and improved uptime in high-ambient environments like Texas. Initial customer discussions support the potential viability of this architecture for future iterations of high-density, direct-to-chip liquid cooled infrastructure to support emerging HPC workloads and customer needs.

    “Vega exemplifies our innovation-driven approach to digital infrastructure design,” said Asher Genoot, CEO of Hut 8. “We built it for where we believe the market is going, using modular architecture and adaptive thermal systems designed to scale and evolve as workload requirements grow more complex. Over the past several weeks, as we’ve brought the site online, it has become clear how well this architecture performs under real-world conditions.”

    “Vega’s design is particularly relevant for AI training and other non-customer-facing HPC workloads, where we believe speed, density, and cost efficiency will increasingly take precedence over traditional redundancy standards,” said Jake Palmer, Senior Vice President of Development at Hut 8. “The project represents a design philosophy we intend to scale, refine, and deploy as we continue to bridge the gap between high-cost, high-redundancy builds and lower-cost, application-optimized infrastructure.”

    BITMAIN is the client for the full ~15 EH/s deployment at Vega under an ASIC colocation agreement. Based on ERCOT forward energy prices, the agreement is expected to generate between $110 million and $120 million in annualized revenue upon full energization, subject to factors including ERCOT energy pricing and facility uptime. The agreement also includes a purchase option that allows Hut 8 to acquire all or part of the hosted fleet in up to three tranches at a fixed price, exercisable within six months of each tranche’s energization. This structure gives Hut 8 the ability to convert the deployment into self-mining capacity for its Bitcoin mining subsidiary, American Bitcoin Corp., supporting growth in its scale from 10 EH/s to 25 EH/s.

    “We are proud to have partnered with Hut 8 to successfully develop and commercialize the next generation of ASIC compute technology,” said Irene Gao, Vice President of Mining at BITMAIN. “Vega demonstrates what is possible when two industry leaders with deep technical expertise come together to push the boundaries of performance, efficiency, and design. We believe this collaboration has set a new benchmark for the industry, and we look forward to expanding on this success in the coming years.”

    Project Highlights

    • Industrial scale: 205 MW of nameplate capacity with a power usage effectiveness (“PUE”) of 1.06, powered behind-the-meter by a wind farm and front-of-the-meter by the ERCOT grid
    • Rack-based architecture: Proprietary rack-based architecture supports 180 kilowatts per rack, 50% higher than the 120-kW requirement of NVIDIA Blackwell HGX GPUs
    • Next-generation ASIC compute technology: Site will host up to 17,280 BITMAIN U3S21EXPH servers (at full energization), the first ASIC miner mass-commercialized by BITMAIN with direct liquid-to-chip cooling within a U form factor, each delivering up to 860 terahash per second (“TH/s”) at 13 joules per terahash (“J/TH”)
    • Direct-to-chip liquid cooling: 96 custom-designed cooling modules circulate 120,000 gallons of glycol-water solution through a closed-loop, reverse return system designed to reduce water consumption versus conventional high-density cooling systems
    • Capital efficiency: Estimated all-in cost of approximately $430,000 to $450,000 per MW of nameplate capacity
    • Time to market: From site acquisition in July 2024 to initial energization in June 2025, Vega was brought online in under a year, demonstrating Hut 8’s ability to use Bitcoin mining infrastructure development to rapidly monetize power assets
    • Commercialization through ASIC Colocation: BITMAIN will consume the full ~15 EH/s deployment at full energization pursuant to a colocation agreement that will generate revenue for Hut 8’s Digital Infrastructure segment and includes a purchase option that, if exercised, would enable American Bitcoin to scale its self-mining capacity from 10 to ~25 EH/s

    About Hut 8 

    Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit www.hut8.com and follow us on X at @Hut8Corp.

    Cautionary Note Regarding Forward–Looking Information

    This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the ability of the Vega facility to support up to ~15 EH/s of next-generation rack-based ASIC compute with direct-to-chip liquid cooling, the ability of Vega’s new Tier I data center form factor to narrow the gap between legacy air-cooled ASIC infrastructure and liquid-cooled GPU infrastructure, the ability of the infrastructure at the Vega facility to support ASIC deployments at densities of up to 180 kW per rack, the ability of the facility’s modular infrastructure to scale and evolve as workload requirements grow more complex, the performance of the infrastructure deployed at the Vega facility under real-world conditions, the relevance of the Vega design to AI training and other non-customer-facing HPC workloads, Hut 8’s intention to scale, refine, and deploy its design philosophy to bridge the gap between high-cost, high-redundancy builds and lower-cost, application-optimized infrastructure, the estimated revenues from the Bitmain colocation agreement and the factors impacting such revenues, the potential exercise of the ASIC purchase option and the benefits thereof to Hut 8 and American Bitcoin Corp., the total all-in cost to develop the Vega facility, and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely,” or similar expressions.

    Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company’s filings with the U.S. Securities and Exchange Commission. In particular, see the Company’s recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company’s EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca.

    Hut 8 Corp. Investor Relations
    Sue Ennis
    ir@hut8.com

    Hut 8 Corp. Public Relations
    Gautier Lemyze-Young
    media@hut8.com

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/99a463ce-e274-4ee7-a8e4-e134abc19825

    https://www.globenewswire.com/NewsRoom/AttachmentNg/30d0ece1-8f33-4444-b754-a4c5f49538e5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/33bbd349-a468-455f-b11a-8cbaaad40232

    The MIL Network –

  • MIL-OSI: Hyperscale Data Subsidiary askROI Surpasses 300,000 App Downloads on Apple App Store and Google Play

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, June 30, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its wholly owned indirect subsidiary askROI, Inc. (“askROI”), has surpassed 300,000 cumulative app downloads between the Apple App Store and Google Play.

    askROI recently announced the launch of its app in both the Apple App Store and Google Play, offering users access to advanced artificial intelligence (“AI”) tools for both personal and business applications. Despite minimal marketing efforts to date, askROI’s organic traction continues to grow as askROI continues to improve platform functionality.

    “The askROI platform has seen significant growth since our last update announcing that we had surpassed 160,000 downloads,” stated Milton “Todd” Ault III, Founder and Executive Chairman of Hyperscale Data. “We are extremely pleased with the growth and are excited to announce new platform upgrades in the coming weeks.”

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

    Hyperscale Data expects to divest itself of ACG on or about December 31, 2025 (the “Divestiture”). Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support HPC services, though it may at that time continue to operate in the digital asset space as described in the Company’s filings with the SEC. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

    On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture.

    Forward-Looking Statements

    This press release contains “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, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network –

  • MIL-OSI: Hyperscale Data Subsidiary askROI Surpasses 300,000 App Downloads on Apple App Store and Google Play

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, June 30, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its wholly owned indirect subsidiary askROI, Inc. (“askROI”), has surpassed 300,000 cumulative app downloads between the Apple App Store and Google Play.

    askROI recently announced the launch of its app in both the Apple App Store and Google Play, offering users access to advanced artificial intelligence (“AI”) tools for both personal and business applications. Despite minimal marketing efforts to date, askROI’s organic traction continues to grow as askROI continues to improve platform functionality.

    “The askROI platform has seen significant growth since our last update announcing that we had surpassed 160,000 downloads,” stated Milton “Todd” Ault III, Founder and Executive Chairman of Hyperscale Data. “We are extremely pleased with the growth and are excited to announce new platform upgrades in the coming weeks.”

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

    Hyperscale Data expects to divest itself of ACG on or about December 31, 2025 (the “Divestiture”). Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support HPC services, though it may at that time continue to operate in the digital asset space as described in the Company’s filings with the SEC. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

    On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture.

    Forward-Looking Statements

    This press release contains “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, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network –