NewzIntel.com

Category: Business

  • MIL-OSI: Tellus Power Globe Holding Limited, BinHendi Holding and Sing Family Enterprise Group Sign Joint Venture Agreement to Launch One of the First EV Charger Manufacturing Companies in Middle East with Support of UAE Ministry of Investment

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., June 17, 2025 (GLOBE NEWSWIRE) — Tellus Power Globe Holding Limited (“Tellus Power” or the “Company”), a global provider of electric vehicle (EV) charging solutions, today announced the official signing of a joint venture agreement with the renowned BinHendi Holding and SFE Group on May 30, 2025. This move responds to the surging growth of the electric vehicle (EV) market and the urgent need to accelerate e-mobility infrastructure development across the Middle East. This collaboration, supported by the UAE Ministry of Investment (the “Ministry of Investment”), marks the establishment of one of the first EV charging equipment manufacturing companies in the Middle East.

    The Ministry of Investment played a pivotal role in facilitating this greenfield investment, reiterating its commitment to attracting future-enabling investment into the UAE while also supporting and promoting the growth of family businesses in the UAE’s markets and strengthening the country’s position as a regional hub for advanced manufacturing and sustainable technologies – two priority sectors under the National Investment Strategy of UAE.

    The agreement was signed at the Ministry of Investment’s headquarters by Mike Calise, Chief Executive Officer of Tellus Power, and Marius Ciavola, Chief Executive officer of Sing Family Enterprise Middle East. The event was witnessed by Hessa Al Ghurair, Acting Assistant Undersecretary of the Ministry of Investment, Hamdan Zakaria Doleh, Chairman of China Innovation Centre in UAE, Yansong Li, Co-Founder of Tellus Power Group, and Mohammad BinHendi, Group CEO of BinHendi Holding.

    This collaboration aims to leverage Tellus Power’s global network in EV charging station technology and manufacturing, combined with the BinHendi Holding and SFE Group’s resources and conducive market conditions in the Middle East, to jointly develop future-oriented smart charging infrastructure and support the region’s sustainable energy transition.

    The joint venture is expected to invest in the construction of DC and AC charging equipment production lines, including high-power DC charging stations with V2G (vehicle-to-grid) functionality. The products are anticipated to not only serve the local market in UAE but also to expand to the entire Gulf Cooperation Council (“GCC”) countries and Middle East regions. As one of the first indigenous EV charging infrastructure manufacturers in the Middle East, the joint venture will be committed to providing local users with efficient, intelligent, reliable, and user-centric EV charging solutions.

    Mike Calise, Chief Executive Officer of Tellus Power, comments: “We’re truly honored to establish this strategic alliance. It’s a significant step that dramatically extends our global reach. Given the UAE’s impressive growth in clean tech and smart mobility, this joint venture, thanks to the vital support from all the incredible teams involved, ensures we are well positioned to meet the escalating demand across the GCC.”

    H.E. Mohammad Abdulrahman Alhawi, Undersecretary at the Ministry of Investment, said: “This agreement showcases the Ministry of Investment’s ongoing dedication to being a strategic partner for international investors, local investors, and family offices. It directly aligns with our mission to strengthen the UAE’s position in attracting future-focused investments that match our national priorities. By supporting partnerships like this, the Ministry of Investment continues to drive high-value investment into high-growth sectors, fostering innovation and sustainable economic prosperity.”

    Hamdan Zakaria Doleh, Chairman of China Innovation Centre in UAE, commented: “The Middle East is at a critical juncture in the green mobility transition. I believe this collaboration with MBH will enable Tellus Power Group to establish a stronger foothold in the Middle East and support the rapid growth of the EV ecosystem through technological innovation and localized operations. This marks a significant milestone in Tellus Power Group’s strategic expansion in the Middle East.”

    Mohammad BinHendi, Group CEO of BinHendi Holding, added: “For us, this is about building national capability – “Made in UAE” isn’t just a label, it’s a direction. We’re actively positioning the UAE as the regional manufacturing hub for next-generation EV infrastructure. Our vision extends beyond mobility, as we continue driving industrial manufacturing across multiple high-impact sectors. As a group committed to ‘Adding Value’, BinHendi Holding believes in adding value to everything we touch. How? We keep things consistent in what we do – and we keep it simple.”

    The joint venture plans to complete factory construction within the year and launch its first ‘Made in UAE’ products by the end of 2025.

    About Tellus Power

    Tellus Power Globe Holding Limited (“Tellus Power” or the “Company”) is a global manufacturer of electric vehicle chargers. The Company delivers ROI-driven charging infrastructure designed for long-term profitability and operational efficiency. Leveraging global expertise, Tellus Power delivers advanced and dependable EV charging infrastructure to support the widespread adoption of electric vehicles.

    Find out more at https://telluspowernorthamerica.com.

    Company Contact
    Caitlin McCann
    cmccann@telluspowergroup.com

    Media Contact
    Jessica Starman, MBA
    hello@telluspowergroup.com

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/7e12b3c9-5896-41cb-9839-80c0ad390709

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2c0aff52-1111-4304-9744-6fb338a36571

    The MIL Network –

  • MIL-OSI USA: Cuts to School Lunch and Food Bank Funding Mean Less Fresh Produce for Children and Families

    Source: US State of Connecticut

    The U.S. government recently cut more than $1 billion in funding to two long-running programs that helped schools and food banks feed children and families in need. The U.S. Department of Agriculture says the reductions are a “return to long-term, fiscally responsible initiatives.” But advocacy groups say the cuts will hurt millions of Americans.

    The reductions came just days before the release of the Trump administration’s Make America Healthy Again report, an analysis of the factors causing chronic disease in children. One of those factors, the report says, is poor diet.

    Marlene Schwartz, a professor of human development and family sciences and director of the Rudd Center for Food Policy & Health at UConn, discusses why cutting the Local Food for Schools and the Local Food Purchase Assistance programs means less fresh food will be available to children and families – and could hurt local farmers and ranchers too.

    The Conversation has collaborated with SciLine to bring you highlights from the discussion, edited here for brevity and clarity.

    Could you explain the two programs that were cut?

    Marlene Schwartz: Most schools were eligible for Local Food for Schools, a $660 million program, which has now been cut. The funds for Local Food for Schools were on top of the reimbursement that schools get for meals and would have allowed them to buy more local, fresh food.

    The Local Food Purchase Assistance program was designed primarily for food banks. Again, the idea was to provide federal money, about $500 million, so food banks could buy from local farmers and support local agriculture. But that too was cut.

    How will these cuts affect families and schoolchildren?

    Schwartz: Many children eat two of their meals, five days a week, at school. During the 2022-2023 school year, about 28 million kids ate lunch at school. More than 14 million had breakfast there.

    Having fresh, local produce in the school cafeteria provides the opportunity to introduce children to more fruits and vegetables and teach them about the food grown in their own communities. Think about how powerful a lesson about nutrition and local agriculture can be when you not only hear and read about it but can taste it too.

    How will these cuts affect farmers and ranchers?

    Schwartz: When the funding was there, the farmers and ranchers knew they had guaranteed buyers for their products. So the loss of these funds, especially so quickly, will have a very negative effect on them. Suddenly, the buyers they counted on don’t have the money to buy from them.

    How does nutritious food in schools impact kids?

    Schwartz: Both the National School Lunch Program and the School Breakfast Program are required to comply with the dietary guidelines for Americans, so they’ve always had nutrition standards. These guidelines are updated every five years to reflect the most recent science and public health needs.

    The regulations on school meal nutrition were strengthened significantly with the 2010 Healthy, Hunger-Free Kids Act. We’ve done a number of studies showing that because of these changes, healthier meals are available at schools, and children eat better. The U.S. Department of Agriculture also did a large national study that reported much the same.

    Another study looked at the nutritional quality of the food at school, from home and at restaurants. It found that school food was the healthiest of all. Many people were surprised by this, but when you think about it, schools are the only setting required to follow federal and state nutrition regulations – restaurants and grocery stores don’t have to do that.

    But getting kids to eat nutritious food can be a challenge.

    Schwartz: We’ve known for decades that American children are not eating enough fruits and vegetables. We know they’re eating too much added sugar, saturated fat and sodium.

    This is due in part to the millions of dollars food companies spend to entice children to eat more sugary cereals, sweetened beverages and fast food.

    I think the best nutrition education happens on your plate. By maximizing the quality of food served in schools, policymakers can influence the diets of millions of children every single day.

    How nutritious are the foods at food banks?

    Schwartz: Food banks often measure their success in terms of the pounds of food they distribute into a community. But families relying on the charitable food system often have a higher risk of diet-related illness – like high blood pressure or Type 2 diabetes – and many want healthier foods.

    In response, food banks, which nationwide serve about 50 million Americans, have made a concerted effort to improve the nutritional quality of their food. There’s now a system to help food banks consistently track the nutritional quality of what they provide.

    Watch the full interview to hear more.

    Originally published in The Conversation.

    MIL OSI USA News –

  • MIL-OSI Global: Regime change wouldn’t likely bring democracy to Iran. A more threatening force could fill the vacuum

    Source: The Conversation – Global Perspectives – By Andrew Thomas, Lecturer in Middle East Studies, Deakin University

    The timing and targets of Israel’s attacks on Iran tell us that Prime Minister Benjamin Netanyahu’s short-term goal is to damage Iran’s nuclear facilities in order to severely diminish its weapons program.

    But Netanyahu has made clear another goal: he said the war with Iran “could certainly” lead to regime change in the Islamic republic.

    These comments came after an Israeli plan to assassinate the supreme leader of Iran, Ayatollah Ali Khamenei, was reportedly rebuffed by United States President Donald Trump.

    It’s no secret Israel has wanted to see the current government of Iran fall for some time, as have many government officials in the US.

    But what would things look like if the government did topple?

    How is power wielded in today’s Iran?

    Founded in 1979 after the Iranian Revolution, the Islamic Republic of Iran has democratic, theocratic and authoritarian elements to its governing structure.

    The founding figure of the Islamic republic, Ayatollah Ruhollah Khomeini, envisioned a state run by Islamic clerics and jurists who ensured all policies adhered to Islamic law.

    As Iran was a constitutional monarchy before the revolution, theocratic elements were effectively grafted on top of the existing republican ones, such as the parliament, executive and judiciary.

    Iran has a unicameral legislature (one house of parliament), called the Majles, and a president (currently Masoud Pezeshkian). There are regular elections for both.

    But while there are democratic elements within this system, in practice it is a “closed loop” that keeps the clerical elite in power and prevents challenges to the supreme leader. There is a clear hierarchy, with the supreme leader at the top.

    Khamenei has been in power for more than 35 years, taking office following Khomeini’s death in 1989. The former president of Iran, he was chosen to become supreme leader by the Assembly of Experts, an 88-member body of Islamic jurists.

    While members of the assembly are elected by the public, candidates must be vetted by the powerful 12-member Guardian Council (also known as the Constitutional Council). Half of this body is selected by the supreme leader, while the other half is approved by the Majles.

    The council also has the power to vet all candidates for president and the parliament.

    In last year’s elections, the Guardian Council disqualified many candidates from running for president, as well as the Majles and Assembly of Experts, including the moderate former president Hassan Rouhani.

    As such, the supreme leader is increasingly facing a crisis of legitimacy with the public. Elections routinely have low turnout. Even with a reformist presidential candidate in last year’s field – the eventual winner, Masoud Pezeshkian – turnout was below 40% in the first round.

    Freedom House gives Iran a global freedom score of just 11 out of 100.

    The supreme leader also directly appoints the leaders in key governance structures, such as the judiciary, the armed forces and Islamic Revolutionary Guard Corps (IRGC).

    The all-powerful IRGC

    So, Iran is far from a democracy. But the idea that regime change would lead to a full democracy that is aligned with Israel and the US is very unlikely.

    Iranian politics is extremely factional. Ideological factions, such as the reformists, moderates and conservatives, often disagree vehemently on key policy areas. They also jockey for influence with the supreme leader and the rest of the clerical elite. None of these factions is particularly friendly with the US, and especially not Israel.

    There are also institutional factions. The most powerful group in the country is the clerical elite, led by the supreme leader. The next most powerful faction would be the IRGC.

    Originally formed as a kind of personal guard for the supreme leader, the IRGC’s fighting strength now rivals that of the regular army.

    The IRGC is extremely hardline politically. At times, the IRGC’s influence domestically has outstripped that of presidents, exerting significant pressure on their policies. The guard only vocally supports presidents in lockstep with Islamic revolutionary doctrine.

    In addition to its control over military hardware and its political influence, the guard is also entwined with the Iranian economy.

    The IRGC is heavily enriched by the status quo, with some describing it as a “kleptocratic” institution. IRGC officials are often awarded state contracts, and are allegedly involved in managing the “black economy” used to evade sanctions.

    Given all of this, the IRGC would be the most likely political institution to take control of Iran if the clerical elite were removed from power.

    In peacetime, the general consensus is the IRGC would not have the resources to orchestrate a coup if the supreme leader died. But in a time of war against a clear enemy, things could be different.

    Possible scenarios post-Khamenei

    So, what might happen if Israel were to assassinate the supreme leader?

    One scenario would be a martial law state led by the IRGC, formed at least in the short term for the purposes of protecting the revolution.

    In the unlikely event the entire clerical leadership is decimated, the IRGC could attempt to reform the Assembly of Experts and choose a new supreme leader itself, perhaps even supporting Khamenei’s son’s candidacy.

    Needless to say, this outcome would not lead to a state more friendly to Israel or the US. In fact, it could potentially empower a faction that has long argued for a more militant response to both.

    Another scenario is a popular uprising. Netanyahu certainly seems to think this is possible, saying in an interview in recent days:

    The decision to act, to rise up this time, is the decision of the Iranian people.

    Indeed, many Iranians have long been disillusioned with their government – even with more moderate and reformist elements within it. Mass protests have broken out several times in recent decades – most recently in 2022 – despite heavy retaliation from law enforcement.

    We’ve seen enough revolutions to know this is possible – after all, modern Iran was formed out of one. But once again, new political leadership being more friendly to Israel and the West is not a foregone conclusion.

    It is possible for Iranians to hold contempt in their hearts for both their leaders and the foreign powers that would upend their lives.

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

    – ref. Regime change wouldn’t likely bring democracy to Iran. A more threatening force could fill the vacuum – https://theconversation.com/regime-change-wouldnt-likely-bring-democracy-to-iran-a-more-threatening-force-could-fill-the-vacuum-259042

    MIL OSI – Global Reports –

  • MIL-OSI: ReversingLabs Named to Inc.’s 2025 Best Workplaces List

    Source: GlobeNewswire (MIL-OSI)

    CAMBRIDGE, Mass., June 17, 2025 (GLOBE NEWSWIRE) — ReversingLabs, the trusted name in file and software security, today announced it has been named to Inc.’s 2025 Best Workplaces list, honoring companies that have built exceptional workplaces and vibrant cultures that support their teams and businesses.

    This year’s list, featured on Inc.com, is the result of comprehensive measurement and evaluation of American companies that have excelled in creating exceptional workplaces and company cultures–whether in-person or remote.

    The award process involved a detailed employee survey conducted by Quantum Workplace, covering critical elements such as management effectiveness, perks, professional development, and overall company culture. Each company’s benefits were also audited to determine overall score and ranking. ReversingLabs is honored to be included among the 514 companies recognized this year.

    “Protecting organizations from increasingly sophisticated cyber threats is our mission—but it’s our people who make it possible,” Kathleen Deshields, Senior Vice President, Human Resources. “Being named one of Inc.’s 2025 Best Workplaces is a testament to the company’s success in creating a collaborative work environment where every day passionate people are excited and empowered to solve real-world problems, grow their skills, and celebrate our success together.”

    ReversingLabs mission is to secure every business by building trust and assurance across every digital asset – from software to containers, virtual machines, AI/ML, and files. It offers software supply chain security, third-party cyber risk management, advanced malware analysis, and threat intelligence through its Spectra Assure, Spectra Intelligence, Spectra Analyze, and Spectra Detect solutions.

    “Inc.’s Best Workplaces program celebrates the exceptional organizations whose workplace cultures address their employees’ welfare and needs in meaningful ways,” says Bonny Ghosh, editorial director at Inc. “As companies expand and adapt to changing economic forces, maintaining such a culture is no small feat. Yet these honorees have not only achieved it—they continue to elevate the employee experience through thoughtful benefits, engagement, and a deep commitment to their teams.”

    To view the full list of winners, visit Inc.com.

    About ReversingLabs
    ReversingLabs is the trusted name in file and software security. We provide the modern cybersecurity platform to verify and deliver safe binaries. Trusted by the Fortune 500 and leading cybersecurity vendors, RL Spectra Core powers the software supply chain and file security insights, tracking over 422 billion searchable files with the ability to deconstruct full software binaries in seconds to minutes. Only ReversingLabs provides that final exam to determine whether a single file or full software binary presents a risk to your organization and your customers.

    About Inc.
    Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of its community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating the future of business. Inc. is published by Mansueto Ventures LLC, along with fellow leading business publication Fast Company. For more information, visit www.inc.com.

    About Quantum Workplace
    Quantum Workplace, based in Omaha, Nebraska, is an HR technology company that serves organizations through employee-engagement surveys, action-planning tools, exit surveys, peer-to-peer recognition, performance evaluations, goal tracking, and leadership assessment. For more information, visit QuantumWorkplace.com.

    Media Contact
    Doug Fraim
    Guyer Group
    Doug@guyergroup.com

    The MIL Network –

  • MIL-OSI: Draganfly’s Commander 3XL Integrated with TB2 Aerospace’s DROPS System Achieves 100% Success Rate During U.S. Army’s SMEX25 Operational Trials

    Source: GlobeNewswire (MIL-OSI)

    In alignment with the Presidential Executive Order “Unleashing American Drone Dominance”

    Golden, CO, June 17, 2025 (GLOBE NEWSWIRE) — TB2 Aerospace LLC, in collaboration with Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A) (“Draganfly” or the “Company”), a drone solutions, and systems developer, (NASDAQ: DPRO), is proud to announce the successful deployment and performance of the Drone Recharging Operational Payload System (DROPS) during the U.S. Army’s Sustainment Modernization Experiment 2025 (SMEX25).

    Throughout SMEX25’s week-long field exercises, the DROPS system, integrated with Draganfly’s Commander 3XL, achieved a 100% success rate in autonomously deploying, recovering, and recharging TB2’s tactical resupply pods. The event provided an opportunity to validate real-world operational performance in austere and high-demand scenarios, drawing praise from defence evaluators and technology observers alike.

    “The successful deployment of DROPS at SMEX25 underscores our commitment to advancing autonomous logistics solutions,” said Hank Scott, CEO of TB2 Aerospace. “Our system’s performance in a live operational environment validates its potential to revolutionize military tactical resupply and contested logistics.”

    He added, “The successful integration of the Commander 3XL and DROPS in support of the U.S. Army’s mission is a great example of the advantage we strive to bring to our partners and their stakeholders.”

    Key Capabilities Demonstrated:

    • Autonomous Payload Operations: The Commander 3XL, enabled with DROPS, autonomously captured, transported, and delivered payloads without any manual intervention, streamlining tactical resupply and significantly reducing the need for human logistics support in the field.
    • Platform Agnosticism: DROPS functioned seamlessly across various platforms, confirming its plug-and-play versatility, with special emphasis on its integration with Draganfly’s Commander 3XL platform. The Draganfly 3XL is now ‘DROPS Enabled’, whilst the smaller Draganfly Apex and the larger Heavy Lift are in the process of becoming DROPS Enabled.

    About Draganfly

    Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is a pioneer in drone solutions, AI-driven software, and robotics. With over 25 years of innovation, Draganfly has been at the forefront of drone technology, providing solutions for public safety, agriculture, industrial inspections, security, mapping, and surveying. The Company is committed to delivering efficient, reliable, and industry-leading technology that helps organizations save time, money, and lives.

    Media Contact

    media@draganfly.com

    Company Contact
    Cameron Chell
    Chief Executive Officer
    (306) 955-9907
    Email: info@draganfly.com

    About TB2 Aerospace

    Founded in 2020, TB2 Aerospace is a U.S.-based defence technology innovator developing autonomous logistics and tactical payload systems. The company’s flagship solution, DROPS, is a modular, reconfigurable payload delivery system designed to extend and enhance the operational capabilities of unmanned systems in defense, disaster response, and homeland security applications.

    Annabel Mead
    Communications and Marketing Consultant
    Canny Comms
    ✉ annabel@canny-comms.co.uk

    Partnership Inquiries
    Hank Scott
    Chief Executive Officer, TB2 Aerospace
    ✉ hank@tb2aerospace.com

    Visit www.tb2aerospace.com for more information.

    Forward Looking Statements

    Forward-Looking Statements

    This release contains certain “forward looking statements” and certain “forward-looking ‎‎‎‎information” as ‎‎‎‎defined under applicable securities laws. Forward-looking statements ‎‎‎‎and information can ‎‎‎‎generally be identified by the use of forward-looking terminology such as ‎‎‎‎‎“may”, “will”, “expect”, “intend”, ‎‎‎‎‎“estimate”, “anticipate”, “believe”, “continue”, “plans” or similar ‎‎‎‎terminology. Forward-looking statements ‎‎‎‎and information are based on forecasts of future ‎‎‎‎results, estimates of amounts not yet determinable and ‎‎‎‎assumptions that, while believed by ‎‎‎‎management to be reasonable, are inherently subject to significant ‎‎‎‎business, economic and ‎‎‎‎competitive uncertainties and contingencies. Forward-looking statements ‎‎‎‎include, but are not ‎‎‎‎limited to, statements with respect to DROPS being a game-changing force multiplier for the Department of Defence and its allies as well as Draganfly’s ability to enable DROPS on the Draganfly Apex and the larger Heavy Lift. Forward-‎‎‎‎looking statements and information are subject to various ‎known ‎‎and unknown risks and ‎‎‎‎‎uncertainties, many of which are beyond the ability of the Company to ‎control or ‎‎predict, that ‎‎‎‎may cause ‎the Company’s actual results, performance or achievements to be ‎materially ‎‎different ‎‎‎‎from those ‎expressed or implied thereby, and are developed based on assumptions ‎about ‎‎such ‎‎‎‎risks, uncertainties ‎and other factors set out here in, including but not limited to: the potential ‎‎‎‎‎‎‎impact of epidemics, ‎pandemics or other public health crises, including the ‎COVID-19 pandemic, on the Company’s business, operations and financial ‎‎‎‎condition; the ‎‎‎successful integration of ‎technology; the inherent risks involved in the general ‎‎‎‎securities markets; ‎‎‎uncertainties relating to the ‎availability and costs of financing needed in the ‎‎‎‎future; the inherent ‎‎‎uncertainty of cost estimates; the ‎potential for unexpected costs and ‎‎‎‎expenses, currency ‎‎‎fluctuations; regulatory restrictions; and liability, ‎competition, loss of key ‎‎‎‎employees and other related risks ‎‎‎and uncertainties disclosed under the ‎heading “Risk Factors“ ‎‎‎‎in the Company’s most recent filings filed ‎‎‎with securities regulators in Canada on ‎the SEDAR ‎‎‎‎website at www.sedar.com and with the United States Securities and Exchange Commission (the “SEC”) on EDGAR through the SEC’s website at www.sec.gov. The Company undertakes ‎‎‎no obligation to update forward-‎looking ‎‎‎‎information except as required by applicable law. Such forward-‎‎‎looking information represents ‎‎‎‎‎managements’ best judgment based on information currently available. ‎‎‎No forward-looking ‎‎‎‎statement ‎can be guaranteed and actual future results may vary materially. ‎‎‎Accordingly, readers ‎‎‎‎are advised not to ‎place undue reliance on forward-looking statements or ‎‎‎information.‎

    The MIL Network –

  • MIL-OSI Economics: W&T Announces Settlement Agreement with Majority of Surety Providers

    Source: W & T Offshore Inc

    Headline: W&T Announces Settlement Agreement with Majority of Surety Providers

    HOUSTON, June 17, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced that it has come to a settlement agreement with two of its largest surety providers which calls for the dismissal of a previously filed lawsuit. The settlement agreement requires the surety providers to withdraw their current collateral demands, and further provides that the surety providers may not make additional collateral demands or increase premiums through December 31, 2026.

    Key highlights for the settlement agreement include:

    • Dismissal of all claims by the applicable party in the lawsuit, without prejudice;
    • Two participating surety providers, together with W&T’s other major surety provider who did not attempt to increase premiums or call for collateral, represent nearly 70% of W&T’s surety bond portfolio;
    • Premium rates for all existing bonds provided by the two surety providers will be locked in at W&T’s historical rates without increase through December 31, 2026, representing a prolonged rate lock in excess of “ordinary course” rate negotiations, thereby providing consistency and predictability in W&T’s premium expense;
    • W&T is not required to provide any collateral to the applicable sureties, and the applicable surety providers will immediately withdraw all demands for collateral;
    • Surety providers may not make demands for collateral through December 31, 2026, outside certain limited circumstances involving unlikely events of default; and
    • Parties retain the right to negotiate and establish new surety bonds at rates to be determined in the ordinary course.

    Tracy W. Krohn, W&T’s Chairman and Chief Executive Officer stated, “We are pleased with the agreement that we have reached with two of our largest surety providers, and we believe that the objectives achieved in this outcome illustrate the strength of the legal position that W&T has aggressively advanced since the beginning of these unnecessary surety lawsuits. This outcome is very positive for W&T overall, as we will not acquiesce to unjustified collateral demands made by the applicable sureties and we have locked in our historical premium rates through the end of 2026. We believe the entry into these settlement agreements vindicates our resolve to stand up to surety providers’ unjustified demands on independent oil and gas operators, such as W&T. For the past 40 plus years, W&T has reliably plugged and abandoned assets, paid its negotiated premiums and operated responsibly in the Gulf of America. We demand fairness and transparency for all oil and natural gas producers in the Gulf of America and will continue to pursue the pending litigation against our other surety providers that have unlawfully colluded and decided to not deal fairly with W&T and other independent oil and gas producers.”

    “This agreement, coupled with the promising developments in the regulatory environment driven by the White House’s directives, alleviates some of the uncertainty that has unnecessarily and artificially suppressed our stock price and we expect that this will allow us to deliver more value to our shareholders. Since the start of the year, we have strengthened our balance sheet, and we have a solid cash position with sufficient liquidity to enable us to continue to evaluate growth opportunities, both organically and inorganically. Operationally and financially, our start to 2025 has been strong, and we expect production to continue to increase thus driving more value creation. We are well-positioned to succeed and believe that the future is bright for W&T.”

    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 settlement on the Company, potential growth opportunities, and the Company’s future production 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 17, 2025

    MIL OSI Economics –

  • MIL-OSI USA: Driven by a Dream: Farah Al Fulfulee’s Quest to Reach the Stars

    Source: NASA

    Farah Al Fulfulee was just four years old when she started climbing onto the roof of her family’s house in Iraq to gaze at the stars.
    “It scared me how vast and quiet the sky was, but it made me very curious. I grew a deep passion for the stars and constellations and what they might represent,” she said.
    Her father noticed her interest and began bringing home books and magazines about space. Al Fulfulee first read about NASA in those pages and was fascinated by the agency’s mission to explore the cosmos for the benefit of all humanity.
    “Right then I knew I had to be an astronaut! I must go to space myself and get a closer look,” she said. “I knew I must find a way to go and work for NASA and fulfill my dream, working with other people like me who had a passion to explore the universe.”

    As a girl growing up in the Middle East, Al Fulfulee had few opportunities to pursue this dream, but she refused to give up. Her dedication to schoolwork and excellence in science and math earned her a spot at the University of Baghdad College of Engineering. She completed a degree in electronic and communication engineering — similar to American electrical and computer engineering programs — and graduated as one of the top 10 students in her class. “We had a graduation party where you dress up as what you want to be in the future,” she recalled. “I wore a spacesuit.”

    Al Fulfulee was ready to launch her career, but Iraq did not have a developed space industry and finding work as a female engineer was a challenge. She accepted a project engineer position with a prominent Iraqi engineering firm in the information technology sector and spent four years working for the company in Iraq, Turkey, and Jordan, but she was disappointed to discover that her role involved very little engineering. “I was the only female on the team,” she said. “It was not common for a woman to work in the field or with customers, so I was always left behind to do office work. The job was not fulfilling.”
    Still determined to join NASA, Al Fulfulee kept looking for her chance to come to the United States and finally found one in 2016, when she moved to Oklahoma to be near her sister. A new challenge soon rose: Without a degree from an American school or previous work experience in the United States, engineering opportunities were hard to come by. Al Fulfulee spent the next six years working in quality assurance for a human resources software company while she completed a MicroMasters program in software verification and management from the University of Maryland and honed her English and leadership skills.
    Her big break came in 2022, when she landed a job with Boeing Defense, Space, and Security as a software quality engineer. “I was so excited,” she said. “I knew I was much closer to my dream since Boeing worked in the space industry and I would be able to apply internally to work on a space program.”

    Less than one year later, Al Fulfulee became a system design and analysis engineer for the International Space Station Program and joined the Station Management and Control Team at NASA’s Johnson Space Center in Houston. She helps develop requirements, monitors performance, and validates testing for electrical systems and software supporting space station payloads. She also designs hardware, software, and interface specifications for those systems. Al Fulfulee has served as the team’s point of contact, delivering verification assessment and data assessment reports for NASA’s SpaceX Crew-9 and Crew-10 missions, as well as the upcoming Axiom Mission 4 flight. She is currently working to support testing and verification for NASA’s SpaceX Crew-11.
    “I could not be happier,” she declared.
    She is also not stopping. “I won’t quit until I wear the blue suit.”

    Al Fulfulee has been an enthusiastic volunteer for various NASA studies, including the Exploration Atmosphere Studies that tested spacewalk safety protocols in an analog environment. She is pursuing a master’s degree in Space Operations Engineering from the University of Colorado, Colorado Springs. She is an avid gardener and learning how to grow produce indoors as a volunteer experimental botanist with the Backyard Produce Project, noting that such knowledge might come in handy on Mars.
    She is also helping to inspire the next generation. Earlier this year, Al Fulfulee was a guest speaker at the Women in Tech & Business Summit in Iraq – an event designed to encourage Iraqi women to pursue technology careers. “I was the only person representing women in space,” she said. “It was a really moving experience.” Al Fulfulee provided practical advice on breaking barriers in aerospace and shared her story with the crowd.
    “I know my path is long and across the continents,” she said, “but I am enjoying my journey.”

    MIL OSI USA News –

  • MIL-OSI USA: Oklahoma Survivors Can Apply for SBA Loans

    Source: US Federal Emergency Management Agency

    Headline: Oklahoma Survivors Can Apply for SBA Loans

    Oklahoma Survivors Can Apply for SBA Loans

    OKLAHOMA CITY – Businesses and residents in seven Oklahoma counties impacted by the March 14-21 wildfires and straight-line winds are eligible to apply for low-interest disaster assistance loans from the U

    S

    Small Business Administration (SBA)

    FEMA partners with other agencies to meet the needs of survivors after a disaster, and SBA loans are the largest source of federal recovery funds

    Residents and businesses in Cleveland, Creek, Lincoln, Logan, Oklahoma, Pawnee and Payne counties can apply for these loans if they sustained property damage

    Affected homeowners, renters and businesses do not need to wait for an insurance settlement before submitting an SBA loan application – and are under no obligation to accept an SBA loan if an application is approved

    Residents can still apply for an SBA loan if they received assistance from FEMA

    Interest rates can be as low as 4 percent for businesses, 3

    25 percent for private nonprofit organizations and 2

    688 percent for homeowners and renters with terms up to 30 years

    Loan amounts and terms are set by SBA and are based on each applicant’s financial condition

    Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement

    SBA disaster loan repayment begins 12 months from the date of the first disbursement

    Homeowners may be eligible for a disaster loan of up to $500,000 for primary residence repairs or rebuilding

    The SBA may also be able to help homeowners and renters with up to $100,000 to replace important personal property, such as damaged automobiles

    Businesses and private nonprofit organizations can borrow up to $2 million to repair or replace damaged property, destroyed real estate, inventory, machinery and equipment, and other essential assets

    The SBA can lend additional funds for measures that help protect, prevent or minimize disaster damage from occurring in the future

     SBA also offers Economic Injury Disaster Loans (EIDL) for small businesses, small agricultural cooperatives, nurseries, and private nonprofits to help recover from economic damage caused by a declared disaster

     The SBA’s Economic Injury Disaster Loan (EIDL) program may be used to cover operating expenses, including fixed debts, payroll, rent, and other bills not paid due to the disaster

    EIDLs are available even if the business or private nonprofit did not suffer any physical damage

    The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises

    Oklahoma residents can apply for a disaster loan online at SBA

    gov/disaster or by calling 800-659-2955

     For the latest information about Oklahoma’s recovery, visit fema

    gov/disaster/4866

     Follow FEMA Region 6 on social media at x

    com/FEMARegion6 and at facebook

    com/FEMARegion6/
    thomas

    wise
    Mon, 06/16/2025 – 20:03

    MIL OSI USA News –

  • MIL-OSI USA: Meijer Issues Recall on Frederik’s Dark Chocolate Almonds Due to Presence of Undeclared Cashews

    Source: US Food and Drug Administration

    Summary

    Company Announcement Date:
    June 13, 2025
    FDA Publish Date:
    June 16, 2025
    Product Type:
    Food & BeveragesAllergens
    Reason for Announcement:

    Recall Reason Description
    Undeclared cashews

    Company Name:
    Meijer
    Brand Name:

    Brand Name(s)
    Frederick’s by Meijer

    Product Description:

    Product Description
    Dark Chocolate Almonds

    Company Announcement
    GRAND RAPIDS, Mich., June 13, 2025 – Meijer is announcing a recall of certain packages of Frederik’s Dark Chocolate Almonds because they may also contain dark chocolate-covered cashews, which are not declared on the label. People who have an allergy or severe sensitivity to cashews run the risk of a serious or life-threatening allergic reaction if they consume the product.
    The recall includes Frederik’s Dark Chocolate Almonds in black stand-up pouches sold at Meijer stores in Michigan, Indiana, Illinois, Ohio, Kentucky, and Wisconsin with a sell-by date of 05/07/2026 or 05/28/2026, and 8-count, 1.5-ounce multi-pack boxes with a sell-by date of 05/05/2026. Meijer has not received any claims of illness associated with this recall to date.
    The following products are included in the recall:

    UPC 

    Recalled Product Name 

    Sell By Date(s) 

    7-08820-68730-1

    Frederik’s by Meijer Dark Chocolate Almonds (12 oz.)

    05/07/2026,05/28/2026

    7-19283-11923-0

    Frederik’s Dark Chocolate Almonds 8-count 1.5 oz.

    05/05/2026

    This recall was initiated after Meijer was informed of the issue by a customer who received the product.
    Customers with allergies or sensitivities to cashews should discontinue use and return the product to the customer service desk at any Meijer store for a full refund. Customers with questions regarding this recall can contact Meijer at 800-543-3704 from 7 a.m.-1 a.m. EDT daily. Customers with questions or concerns about their health are encouraged to contact their primary care provider.
    About Meijer: Meijer is a privately owned, family-operated retailer that serves customers at more than 500 supercenters, grocery stores, neighborhood markets, and express locations throughout the Midwest. As the pioneer of the one-stop shopping concept, more than 70,000 Meijer team members work hard to deliver a friendly, seamless in-store and online shopping experience featuring an assortment of fresh foods, high-quality apparel, household essentials, and health and wellness products and services. Meijer is consistently recognized as a Great Place to Work and annually donates at least 6 percent of its profit to strengthen its communities. Additional information on the company can be found by visiting newsroom.meijer.com.

    Company Contact Information

    Consumers:
    Meijer
    800-543-3704

    Product Photos

    Content current as of:
    06/16/2025

    Regulated Product(s)

    Topic(s)

    Follow FDA

    MIL OSI USA News –

  • MIL-OSI Europe: Answer to a written question – ETS maritime surcharges – E-001705/2025(ASW)

    Source: European Parliament

    All sectors, including maritime transport, need to contribute to the EU climate neutrality goal by 2050 and the EU Emissions Trading System (ETS) is a key policy to achieve this objective.

    While the ETS Directive[1] allows for the transfer of the ETS costs from the shipping company to another entity operating the ship, it does not regulate the pass-through of costs to shippers.

    The Commission’s report[2] on the monitoring of the ETS extension to maritime transport shows that shipping companies typically pass ETS costs to shippers, with a limited impact on overall transport prices in 2024, estimated between 1% and 5% for deep sea container services.

    A case study revealed that surcharges do not always reflect the EU ETS costs expected on specific routes, possibly due to shipping companies’ strategies in redistributing costs among their lines.

    Information to be published by 30 June 2025 in Thetis Monitoring, Reporting and Verification (MRV)[3] will detail ship level emissions reported by shipping companies under the ETS, possibly aiding shippers in their commercial discussions.

    In terms of effectiveness, companies passing on the ETS costs would generally incentivise their consumers to shift towards greener alternatives.

    At the same time, the ETS would continue incentivising investments in mitigation reduction solutions in synergy with other policies such as FuelEU Maritime[4].

    The Commission will continue closely monitoring the implementation of the ETS extension to maritime transport, with reports due every two years.

    The above-mentioned report should therefore be seen as the first step of an ongoing process providing the foundation for future analysis and for possible enhancements of the monitoring approach.

    • [1] Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC (OJ L 275, 25.10.2003, p. 32).
    • [2] COM(2025) 110 final — https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:52025DC0110.
    • [3] The dedicated Union information system developed and operated by the European Maritime Safety Agency that supports the implementation of Regulation (EU) 2015/757 — https://mrv.emsa.europa.eu/.
    • [4] Regulation (EU) 2023/1805 of the European Parliament and of the Council of 13 September 2023 on the use of renewable and low-carbon fuels in maritime transport, and amending Directive 2009/16/EC.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Mobility poverty in the EU’s outermost regions – E-001290/2025(ASW)

    Source: European Parliament

    The Commission announced, in the Mid-term Review Communication[1], the launch of consultations for an updated strategy for the outermost regions to address their permanent constraints. Several EU instruments already include favourable conditions for their transport needs.

    The European Regional Development Fund[2] supports airport infrastructure only in these regions and compensates for airports’ higher operating costs.

    The Connecting Europe Facility[3] supports transport infrastructure with higher co-financing rates. Several Public Service Obligations ensure connectivity with outermost regions[4], and social aid schemes support air transport for their residents[5].

    Outermost regions benefit from specific provisions under transport-related climate legislation. Domestic flights and sea journeys between an outermost region and its Member State are exempted from the Emissions Trading System[6] until end 2030 and can be exempted under the FuelEU Maritime Regulation[7] until end 2029.

    Around EUR 1.6 billion was set aside from the Emissions Trading System revenues to cover price difference between the use of eligible sustainable aviation fuels and fossil kerosene, covering exceptionally the full difference at outermost regions’ airports.

    The Social Climate Fund regulation[8] requires that relevant Member States consider outermost regions’ specificities in their national plans.

    As set out in the communication COM(2025) 46 final The road to the next multiannual financial framework[9], the future budget will include a strengthened, modernised cohesion and growth policy, in partnership with national, regional and local authorities, including outermost regions.

    • [1] A modernised cohesion policy: the mid-term review, COM(2025) 163 final.
    • [2] Regulation (EU) 2021/1058 of the European Parliament and of the Council of 24 June 2021 on the European Regional Development Fund and on the Cohesion Fund. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02021R1058-20241224 .
    • [3] Regulation (EU) 2021/1153 of the European Parliament and of the Council of 7 July 2021 establishing the Connecting Europe Facility. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02021R1153-20240718.
    • [4] Regulation (EC) No 1008/2008 of the European Parliament and of the Council of 24 September 2008 on common rules for the operation of air services in the Community. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02008R1008-20201218.
    • [5] Based on Article 107(2)(a) of the Treaty on the Functioning of the European Union.
    • [6] Directive (EU) 2023/959 of the European Parliament and of the Council of 10 May 2023 amending Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the European Union and Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the European Union greenhouse gas emission trading system. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02023L0959-20230516.
    • [7] Article 2(4) of Regulation (EU) 2023/1805 of the European Parliament and of the Council of 13 September 2023 on the use of renewable and low-carbon fuels in maritime transport, and amending Directive 2009/16/EC.
    • [8] Regulation (EU) 2023/955 establishing a Social Climate Fund and amending Regulation (EU) 2021/1060. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02023R0955-20240630.
    • [9] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:52025DC0046.
    Last updated: 17 June 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB conditionally non-excludes China Road and Bridge Corporation for 18 months to address Prohibited Conduct

    Source: European Investment Bank

    China Road and Bridge Corporation (CRBC) has received an 18-month conditional nonexclusion from EIB-financed projects due to historical misconduct by CRBC as a tenderer in the procurement procedure for multiple EIB-financed projects across several countries.

    The conditional non-exclusion was reached through a negotiated settlement agreement.

    CRBC undertakes to enforce the level of standards applicable to its compliance programme and to report on material developments in its compliance programme for a period of eighteen months, starting from [date of signature]. During the same period, CRBC also agrees to closely cooperate with the EIB, and assist it in its efforts to investigate prohibited conduct in EIBfinanced projects.

    CRBC remains eligible to participate in EIB-financed operations and activities, and to participate in EIB-financed tenders and to be awarded EIB-financed contracts, provided that CRBC complies with the terms of the settlement agreement.

    During the investigation process, CRBC cooperated in full with the EIB, helped clarify matters, and provided information and material related to the wrongdoing addressed in full transparency. CRBC also took all necessary steps to implement several measures for the enhancement of its corporate governance and compliance system to ensure such misconduct is not repeated

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB excludes Sieyuan Electric Co., Ltd. for 12 months to address and combat fraudulent practice

    Source: European Investment Bank

    The Chinese company Sieyuan Electric Co., Ltd. (Sieyuan) has received a 12-month exclusion from EIB-financed projects due to its historical misconduct in connection with an EIB-financed project in Tanzania. The exclusion was reached through a negotiated settlement agreement.

    As part of this settlement, Sieyuan will be excluded from participation in EIB projects for a period of 12 months. Sieyuan will closely cooperate with the EIB, assist it in its efforts to investigate prohibited conduct in EIB-financed projects, and maintain its corporate governance and compliance system to ensure that such misconduct is not repeated.

    During the investigation process, Sieyuan cooperated in full with the EIB and helped clarify matters and provided information and material related to the wrongdoing addressed in full transparency.

    MIL OSI Europe News –

  • MIL-OSI Europe: Highlights – The European Defence Union: Tax Matters – Subcommittee on Tax Matters

    Source: European Parliament

    On 25 June 2025, from 14:30 to 16:15, the FISC Subcommittee will host a joint public hearing with the SEDE Committee on “The European Defence Union: Tax Matters”. The hearing will focus on the legislative framework governing VAT exemptions for defence-related activities carried out under the EU’s Common Security and Defence Policy (CSDP).

    It will examine the 2015 Council Decision granting VAT exemptions to NATO and EU agencies for defence efforts supporting the implementation of Union activities, and assess how effectively Member States are applying these provisions.

    In particular, the discussion will explore the cooperation mechanisms between the European Commission, national Ministries of Finance, and Ministries of Defence in ensuring consistent and compliant implementation of the VAT exemptions. The panel will also address the operational and administrative challenges encountered in the field. The insights gathered will contribute to the broader debate on strengthening the fiscal framework underpinning European defence initiatives, including the European Defence Industry Programme (EDIP) and upcoming measures under the ReArm Europe Plan and Readiness 2030 strategy.

    MIL OSI Europe News –

  • MIL-OSI Europe: Hearings – The European Defence Union: Tax Matters – 25-06-2025 – Subcommittee on Tax Matters – Committee on Security and Defence

    Source: European Parliament

    On 25 June 2025, from 14:30 to 16:15, the FISC Subcommittee will host a joint public hearing with the SEDE Committee on “The European Defence Union: Tax Matters”. The hearing will focus on the legislative framework governing VAT exemptions for defence-related activities carried out under the EU’s Common Security and Defence Policy (CSDP).

    It will examine the 2015 Council Decision granting VAT exemptions to NATO and EU agencies for defence efforts supporting the implementation of Union activities, and assess how effectively Member States are applying these provisions.

    In particular, the discussion will explore the cooperation mechanisms between the European Commission, national Ministries of Finance, and Ministries of Defence in ensuring consistent and compliant implementation of the VAT exemptions. The panel will also address the operational and administrative challenges encountered in the field. The insights gathered will contribute to the broader debate on strengthening the fiscal framework underpinning European defence initiatives, including the European Defence Industry Programme (EDIP) and upcoming measures under the ReArm Europe Plan and Readiness 2030 strategy.

    MIL OSI Europe News –

  • MIL-OSI Europe: Hearings – The European Defence Union: Tax Matters – 25-06-2025 – Subcommittee on Tax Matters – Committee on Security and Defence

    Source: European Parliament

    On 25 June 2025, from 14:30 to 16:15, the FISC Subcommittee will host a joint public hearing with the SEDE Committee on “The European Defence Union: Tax Matters”. The hearing will focus on the legislative framework governing VAT exemptions for defence-related activities carried out under the EU’s Common Security and Defence Policy (CSDP).

    It will examine the 2015 Council Decision granting VAT exemptions to NATO and EU agencies for defence efforts supporting the implementation of Union activities, and assess how effectively Member States are applying these provisions.

    In particular, the discussion will explore the cooperation mechanisms between the European Commission, national Ministries of Finance, and Ministries of Defence in ensuring consistent and compliant implementation of the VAT exemptions. The panel will also address the operational and administrative challenges encountered in the field. The insights gathered will contribute to the broader debate on strengthening the fiscal framework underpinning European defence initiatives, including the European Defence Industry Programme (EDIP) and upcoming measures under the ReArm Europe Plan and Readiness 2030 strategy.

    MIL OSI Europe News –

  • MIL-OSI: Albion Technology & General VCT PLC: Interim Management Statement

    Source: GlobeNewswire (MIL-OSI)

    Albion Technology & General VCT PLC
    Interim Management Statement
    LEI code: 213800TKJUY376H3KN16

    Introduction
    I present Albion Technology & General VCT PLC (the “Company”)’s interim management statement for the period from 1 January 2025 to 31 March 2025.

    Performance
    The Company’s unaudited net asset value (“NAV”) as at 31 March 2025 was £274.8 million or 73.51 pence per share (excluding treasury shares), an increase of 0.47 pence per share (0.6%) since 31 December 2024.

    Fundraising
    A prospectus Top Up Offer of new ordinary shares opened to applications on 6 January 2025. The Board announced on 31 March 2025 that it had reached its £30 million limit (inclusive of the Company’s £10 million over-allotment facility) under its offer for subscription.

    During the period, the Company issued the following shares under the Albion VCTs Top Up Offers 2024/2025:

    Date Number of shares issued Issue price per share Net consideration received £’000
    21 March 2025 29,774,402 74.54 to 75.30 pence 21,748

    Portfolio
    The following investments have been made during the period:

    New investments £’000 Activity
    Latent Technology Group 1,722 Reinforcement Learning based Animation
    Innerworks Technology 350 Adaptive security
    Scripta Therapeutics 274 AI-enabled drug discovery
    OtoImmune 172 Detection and treatment of autoimmune diseases
    Pastel Health 97 Digital-first provider of multi-specialty care
    Formicor Pharmaceuticals 55 Drug reformulation
    Total new investments 2,670  
    Further investments £’000 Activity
    Mondra Global 1,273 Food supply chain emissions modelling
    TransFICC 1,097 A provider of a connectivity solution, connecting financial institutions with trading venues via a single Application Programming Interface (“API”)
    Runa Network 90 Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts
    NuvoAir Holdings 71 Digital therapeutics and decentralised clinical trials for respiratory conditions
    uMedeor (T/A uMed) 59 A middleware technology platform that enables life science organisations to conduct medical research programmes
    Total further investments 2,590  

    Top ten holdings as at 31 March 2025:

    Investment Carrying value
    £’000    		 % of net asset value Activity
    Quantexa 51,401 18.7% Network analytics platform to detect financial crime
    Proveca 18,414 6.7% Reformulation of medicines for children
    Gravitee Topco (T/A Gravitee.io) 9,259 3.4% API management platform
    Oviva 8,814 3.2% A technology enabled service business in medical nutritional therapy (“MNT”)
    Convertr Media 5,966 2.2% Digital lead generation software
    The Evewell Group 5,815 2.1% Operator and developer of women’s health centres focusing on fertility
    TransFICC 5,719 2.1% A provider of a connectivity solution, connecting financial institutions with trading venues via a single API
    Chonais River Hydro 5,606 2.0% Owner and operator of a 2 MW hydro-power scheme in the Scottish Highlands
    Runa Network 5,420 2.0% Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts
    Radnor House School (TopCo) 4,968 1.8% Independent school for children aged 2-18

    A full breakdown of the Company’s portfolio can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AATG.

    Share buy-backs
    During the period, the Company did not buy back any shares as the Company was in a close period until 23 April 2025.

    It remains the Board’s policy to buy back shares in the market, subject to the overall constraint that such purchases are in the Company’s interest, including the maintenance of sufficient resources for investment in existing and new portfolio companies and the continued payment of dividends to shareholders.

    It is the Board’s intention for buy-backs to be at around a 5% discount to net asset value, so far as market conditions and liquidity permit.

    Material events and transactions after the period end
    After the period end, the Company issued the following new Ordinary shares of nominal value 1 penny per share under the Albion VCTs Prospectus Top Up Offers 2024/2025:

    Date Number of shares issued Issue price per share Net consideration received £’000
    4 April 2025 10,100,775 75.30 pence 7,378

    There have been no other material events or transactions after the period end to the date of this announcement.

    Further information
    Further information regarding historic and current financial performance and other useful shareholder information can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AATG.

    Clive Richardson, Chairman
    17 June 2025

    For further information please contact:
    Vikash Hansrani
    Operations Partner
    Albion Capital Group LLP – Tel: 020 7601 1850

    The MIL Network –

  • MIL-OSI: Albion Technology & General VCT PLC: Interim Management Statement

    Source: GlobeNewswire (MIL-OSI)

    Albion Technology & General VCT PLC
    Interim Management Statement
    LEI code: 213800TKJUY376H3KN16

    Introduction
    I present Albion Technology & General VCT PLC (the “Company”)’s interim management statement for the period from 1 January 2025 to 31 March 2025.

    Performance
    The Company’s unaudited net asset value (“NAV”) as at 31 March 2025 was £274.8 million or 73.51 pence per share (excluding treasury shares), an increase of 0.47 pence per share (0.6%) since 31 December 2024.

    Fundraising
    A prospectus Top Up Offer of new ordinary shares opened to applications on 6 January 2025. The Board announced on 31 March 2025 that it had reached its £30 million limit (inclusive of the Company’s £10 million over-allotment facility) under its offer for subscription.

    During the period, the Company issued the following shares under the Albion VCTs Top Up Offers 2024/2025:

    Date Number of shares issued Issue price per share Net consideration received £’000
    21 March 2025 29,774,402 74.54 to 75.30 pence 21,748

    Portfolio
    The following investments have been made during the period:

    New investments £’000 Activity
    Latent Technology Group 1,722 Reinforcement Learning based Animation
    Innerworks Technology 350 Adaptive security
    Scripta Therapeutics 274 AI-enabled drug discovery
    OtoImmune 172 Detection and treatment of autoimmune diseases
    Pastel Health 97 Digital-first provider of multi-specialty care
    Formicor Pharmaceuticals 55 Drug reformulation
    Total new investments 2,670  
    Further investments £’000 Activity
    Mondra Global 1,273 Food supply chain emissions modelling
    TransFICC 1,097 A provider of a connectivity solution, connecting financial institutions with trading venues via a single Application Programming Interface (“API”)
    Runa Network 90 Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts
    NuvoAir Holdings 71 Digital therapeutics and decentralised clinical trials for respiratory conditions
    uMedeor (T/A uMed) 59 A middleware technology platform that enables life science organisations to conduct medical research programmes
    Total further investments 2,590  

    Top ten holdings as at 31 March 2025:

    Investment Carrying value
    £’000    		 % of net asset value Activity
    Quantexa 51,401 18.7% Network analytics platform to detect financial crime
    Proveca 18,414 6.7% Reformulation of medicines for children
    Gravitee Topco (T/A Gravitee.io) 9,259 3.4% API management platform
    Oviva 8,814 3.2% A technology enabled service business in medical nutritional therapy (“MNT”)
    Convertr Media 5,966 2.2% Digital lead generation software
    The Evewell Group 5,815 2.1% Operator and developer of women’s health centres focusing on fertility
    TransFICC 5,719 2.1% A provider of a connectivity solution, connecting financial institutions with trading venues via a single API
    Chonais River Hydro 5,606 2.0% Owner and operator of a 2 MW hydro-power scheme in the Scottish Highlands
    Runa Network 5,420 2.0% Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts
    Radnor House School (TopCo) 4,968 1.8% Independent school for children aged 2-18

    A full breakdown of the Company’s portfolio can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AATG.

    Share buy-backs
    During the period, the Company did not buy back any shares as the Company was in a close period until 23 April 2025.

    It remains the Board’s policy to buy back shares in the market, subject to the overall constraint that such purchases are in the Company’s interest, including the maintenance of sufficient resources for investment in existing and new portfolio companies and the continued payment of dividends to shareholders.

    It is the Board’s intention for buy-backs to be at around a 5% discount to net asset value, so far as market conditions and liquidity permit.

    Material events and transactions after the period end
    After the period end, the Company issued the following new Ordinary shares of nominal value 1 penny per share under the Albion VCTs Prospectus Top Up Offers 2024/2025:

    Date Number of shares issued Issue price per share Net consideration received £’000
    4 April 2025 10,100,775 75.30 pence 7,378

    There have been no other material events or transactions after the period end to the date of this announcement.

    Further information
    Further information regarding historic and current financial performance and other useful shareholder information can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AATG.

    Clive Richardson, Chairman
    17 June 2025

    For further information please contact:
    Vikash Hansrani
    Operations Partner
    Albion Capital Group LLP – Tel: 020 7601 1850

    The MIL Network –

  • MIL-OSI: Albion Technology & General VCT PLC: Interim Management Statement

    Source: GlobeNewswire (MIL-OSI)

    Albion Technology & General VCT PLC
    Interim Management Statement
    LEI code: 213800TKJUY376H3KN16

    Introduction
    I present Albion Technology & General VCT PLC (the “Company”)’s interim management statement for the period from 1 January 2025 to 31 March 2025.

    Performance
    The Company’s unaudited net asset value (“NAV”) as at 31 March 2025 was £274.8 million or 73.51 pence per share (excluding treasury shares), an increase of 0.47 pence per share (0.6%) since 31 December 2024.

    Fundraising
    A prospectus Top Up Offer of new ordinary shares opened to applications on 6 January 2025. The Board announced on 31 March 2025 that it had reached its £30 million limit (inclusive of the Company’s £10 million over-allotment facility) under its offer for subscription.

    During the period, the Company issued the following shares under the Albion VCTs Top Up Offers 2024/2025:

    Date Number of shares issued Issue price per share Net consideration received £’000
    21 March 2025 29,774,402 74.54 to 75.30 pence 21,748

    Portfolio
    The following investments have been made during the period:

    New investments £’000 Activity
    Latent Technology Group 1,722 Reinforcement Learning based Animation
    Innerworks Technology 350 Adaptive security
    Scripta Therapeutics 274 AI-enabled drug discovery
    OtoImmune 172 Detection and treatment of autoimmune diseases
    Pastel Health 97 Digital-first provider of multi-specialty care
    Formicor Pharmaceuticals 55 Drug reformulation
    Total new investments 2,670  
    Further investments £’000 Activity
    Mondra Global 1,273 Food supply chain emissions modelling
    TransFICC 1,097 A provider of a connectivity solution, connecting financial institutions with trading venues via a single Application Programming Interface (“API”)
    Runa Network 90 Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts
    NuvoAir Holdings 71 Digital therapeutics and decentralised clinical trials for respiratory conditions
    uMedeor (T/A uMed) 59 A middleware technology platform that enables life science organisations to conduct medical research programmes
    Total further investments 2,590  

    Top ten holdings as at 31 March 2025:

    Investment Carrying value
    £’000    		 % of net asset value Activity
    Quantexa 51,401 18.7% Network analytics platform to detect financial crime
    Proveca 18,414 6.7% Reformulation of medicines for children
    Gravitee Topco (T/A Gravitee.io) 9,259 3.4% API management platform
    Oviva 8,814 3.2% A technology enabled service business in medical nutritional therapy (“MNT”)
    Convertr Media 5,966 2.2% Digital lead generation software
    The Evewell Group 5,815 2.1% Operator and developer of women’s health centres focusing on fertility
    TransFICC 5,719 2.1% A provider of a connectivity solution, connecting financial institutions with trading venues via a single API
    Chonais River Hydro 5,606 2.0% Owner and operator of a 2 MW hydro-power scheme in the Scottish Highlands
    Runa Network 5,420 2.0% Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts
    Radnor House School (TopCo) 4,968 1.8% Independent school for children aged 2-18

    A full breakdown of the Company’s portfolio can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AATG.

    Share buy-backs
    During the period, the Company did not buy back any shares as the Company was in a close period until 23 April 2025.

    It remains the Board’s policy to buy back shares in the market, subject to the overall constraint that such purchases are in the Company’s interest, including the maintenance of sufficient resources for investment in existing and new portfolio companies and the continued payment of dividends to shareholders.

    It is the Board’s intention for buy-backs to be at around a 5% discount to net asset value, so far as market conditions and liquidity permit.

    Material events and transactions after the period end
    After the period end, the Company issued the following new Ordinary shares of nominal value 1 penny per share under the Albion VCTs Prospectus Top Up Offers 2024/2025:

    Date Number of shares issued Issue price per share Net consideration received £’000
    4 April 2025 10,100,775 75.30 pence 7,378

    There have been no other material events or transactions after the period end to the date of this announcement.

    Further information
    Further information regarding historic and current financial performance and other useful shareholder information can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AATG.

    Clive Richardson, Chairman
    17 June 2025

    For further information please contact:
    Vikash Hansrani
    Operations Partner
    Albion Capital Group LLP – Tel: 020 7601 1850

    The MIL Network –

  • MIL-OSI: Albion Technology & General VCT PLC: Interim Management Statement

    Source: GlobeNewswire (MIL-OSI)

    Albion Technology & General VCT PLC
    Interim Management Statement
    LEI code: 213800TKJUY376H3KN16

    Introduction
    I present Albion Technology & General VCT PLC (the “Company”)’s interim management statement for the period from 1 January 2025 to 31 March 2025.

    Performance
    The Company’s unaudited net asset value (“NAV”) as at 31 March 2025 was £274.8 million or 73.51 pence per share (excluding treasury shares), an increase of 0.47 pence per share (0.6%) since 31 December 2024.

    Fundraising
    A prospectus Top Up Offer of new ordinary shares opened to applications on 6 January 2025. The Board announced on 31 March 2025 that it had reached its £30 million limit (inclusive of the Company’s £10 million over-allotment facility) under its offer for subscription.

    During the period, the Company issued the following shares under the Albion VCTs Top Up Offers 2024/2025:

    Date Number of shares issued Issue price per share Net consideration received £’000
    21 March 2025 29,774,402 74.54 to 75.30 pence 21,748

    Portfolio
    The following investments have been made during the period:

    New investments £’000 Activity
    Latent Technology Group 1,722 Reinforcement Learning based Animation
    Innerworks Technology 350 Adaptive security
    Scripta Therapeutics 274 AI-enabled drug discovery
    OtoImmune 172 Detection and treatment of autoimmune diseases
    Pastel Health 97 Digital-first provider of multi-specialty care
    Formicor Pharmaceuticals 55 Drug reformulation
    Total new investments 2,670  
    Further investments £’000 Activity
    Mondra Global 1,273 Food supply chain emissions modelling
    TransFICC 1,097 A provider of a connectivity solution, connecting financial institutions with trading venues via a single Application Programming Interface (“API”)
    Runa Network 90 Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts
    NuvoAir Holdings 71 Digital therapeutics and decentralised clinical trials for respiratory conditions
    uMedeor (T/A uMed) 59 A middleware technology platform that enables life science organisations to conduct medical research programmes
    Total further investments 2,590  

    Top ten holdings as at 31 March 2025:

    Investment Carrying value
    £’000    		 % of net asset value Activity
    Quantexa 51,401 18.7% Network analytics platform to detect financial crime
    Proveca 18,414 6.7% Reformulation of medicines for children
    Gravitee Topco (T/A Gravitee.io) 9,259 3.4% API management platform
    Oviva 8,814 3.2% A technology enabled service business in medical nutritional therapy (“MNT”)
    Convertr Media 5,966 2.2% Digital lead generation software
    The Evewell Group 5,815 2.1% Operator and developer of women’s health centres focusing on fertility
    TransFICC 5,719 2.1% A provider of a connectivity solution, connecting financial institutions with trading venues via a single API
    Chonais River Hydro 5,606 2.0% Owner and operator of a 2 MW hydro-power scheme in the Scottish Highlands
    Runa Network 5,420 2.0% Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts
    Radnor House School (TopCo) 4,968 1.8% Independent school for children aged 2-18

    A full breakdown of the Company’s portfolio can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AATG.

    Share buy-backs
    During the period, the Company did not buy back any shares as the Company was in a close period until 23 April 2025.

    It remains the Board’s policy to buy back shares in the market, subject to the overall constraint that such purchases are in the Company’s interest, including the maintenance of sufficient resources for investment in existing and new portfolio companies and the continued payment of dividends to shareholders.

    It is the Board’s intention for buy-backs to be at around a 5% discount to net asset value, so far as market conditions and liquidity permit.

    Material events and transactions after the period end
    After the period end, the Company issued the following new Ordinary shares of nominal value 1 penny per share under the Albion VCTs Prospectus Top Up Offers 2024/2025:

    Date Number of shares issued Issue price per share Net consideration received £’000
    4 April 2025 10,100,775 75.30 pence 7,378

    There have been no other material events or transactions after the period end to the date of this announcement.

    Further information
    Further information regarding historic and current financial performance and other useful shareholder information can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/AATG.

    Clive Richardson, Chairman
    17 June 2025

    For further information please contact:
    Vikash Hansrani
    Operations Partner
    Albion Capital Group LLP – Tel: 020 7601 1850

    The MIL Network –

  • MIL-OSI: Next-Gen Edge AI Solutions for the Real World: Autonomous Navigation for Drones, Surveillance and Robotics

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., June 17, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader in compute and connectivity IoT solutions enabling Edge AI Intelligence, today announced its collaboration with Aerora, a provider of integrated NDAA-compliant propulsion, ground control and precision AI payload systems. This collaboration delivers Edge AI-driven solutions that significantly accelerate advancements in drones, robotics and surveillance applications delivered by Aerora’s OEM platform for AI-Powered Visual Navigation.

    “Lantronix’s collaboration with Aerora promises to advance the development of AI-powered drones and other intelligent applications, equipping developers with cutting-edge tools from leading embedded compute technologies,” said Saleel Awsare, CEO and president of Lantronix. “This breakthrough in advanced AI-driven solutions delivers a transformative impact, opening doors to new opportunities in both private and government sectors.”

    Grandview Research estimates that by 2030, the global drone market will reach $163.6 billion. Most forecasts predict a CAGR of 15 percent through 2030, with some commercial segments expected to grow even faster, especially as drone applications expand into logistics, agriculture, infrastructure and public safety. The U.S. Federal Government also acknowledges the importance of unmanned aircraft systems, such as drones, for commercial and government industries and has enabled support of drone manufacturers.

    Aerora’s solution is supported by Lantronix’s Open-Q™ System-on-Module (SoM) powered by Qualcomm® Technologies chipsets, which provides unparalleled processing capabilities for AI-driven situational awareness, advanced computational imaging and real-time decision-making.

    With Lantronix’s Open-Q SOMs, developers can confidently build AI-powered solutions while knowing they are backed by industry-leading embedded compute technologies.

    As part of the integrated solution, Aerora has incorporated the Teledyne FLIR Hadron 640R module and Prism software, enabling advanced thermal and RGB imaging capabilities. OEMs of drones, robotics and surveillance solutions face increasing pressure to shorten development timelines while maintaining high standards for imaging and control systems. New Edge AI technologies, such as this solution, can help reduce or eliminate engineering overhead and shorten time-to-market.

    Aerora’s full-stack solution includes pre-integration of the camera, gimbal, gimbal motors, housing, telemetry and interface while featuring 4K video stream simultaneously with high-resolution thermal video. Aerora is working with multiple OEM drone manufacturers, integrating its platform of an integrated camera + gimble solution, which helps meet the industry’s technological requirements while ensuring NDAA compliance.

    “At Aerora, our core mission is to deliver rapid integration, flexible sensor solutions and fully NDAA-compliant manufacturing at scale. By collaborating closely with industry leaders like Lantronix and Qualcomm and integrating advanced imaging technologies such as Teledyne FLIR’s Hadron 640R, we empower drone OEMs to significantly reduce development timelines, expand their operational capabilities and confidently meet demanding market requirements,” said Ghel Ghedh, chief technology officer for Aerora.

    To learn more about this innovative solution, download the complete white paper here.

    About Lantronix

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to succeed 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.

    About Aerora

    Aerora™ accelerates drone and robotics innovation by offering fully integrated, NDAA-compliant propulsion, ground control, and precision AI payload systems. Managing the entire supply chain and overseeing all manufacturing processes—both onshore and offshore—we empower manufacturers to effortlessly scale, streamline operations, and faster time to market without compromising quality or compliance. Aerora™ is based in Santa Clara, California.

    For more information, visit the Aerora website.

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to Lantronix products and awards. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as 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 the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual 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; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.

    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: Beneficient Announces Court Approval of GWG Litigation Settlement

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, June 17, 2025 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Beneficient,” “Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform, AltAccess, today announced that the Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) has approved the previously disclosed settlement agreement resolving all claims pending in the Bankruptcy Court under the previously disclosed lawsuits relating to GWG Holdings, Inc. (“GWG” and such litigation, the “GWG Litigation”) against the Company, its subsidiaries, and each of their current and former directors and officers (the “Beneficient Parties”). The settlement agreement remains subject to the approval of the District Court for the Northern District of Texas (the “Northern District Court”).

    As previously announced on March 10, 2025, the Company entered into a binding settlement agreement to resolve all claims in the GWG Litigation for a sum within applicable insurance policy limits. With the Bankruptcy Court’s approval, the settlement in the Bankruptcy Court is now final, subject to a 14-day period to appeal. The settlement resolves all claims filed in the Bankruptcy Court against the Beneficient Parties without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant.

    “We are pleased that the Bankruptcy Court has approved this settlement, allowing us to move forward with a renewed focus on executing our business strategy and creating value for our shareholders,” said a Company spokesperson.

    Following the settlement of the GWG Litigation in the Bankruptcy Court, other outstanding GWG-related claims against parties other than the Beneficient Parties remain outstanding, including certain claims against entities related to Beneficient’s founder and CEO to whom Beneficient owes certain indemnification obligations. The Company continues to support a vigorous defense against such claims.

    About Beneficent

    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.

    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

    For more information, visit www.trustben.com or follow us on LinkedIn.

    Contacts
    Matt Kreps 214-597-8200 mkreps@darrowir.com
    Michael Wetherington 214-284-1199 mwetherington@darrowir.com
    investors@beneficient.com  

    Forward Looking Statements

    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding approval of the settlement agreement by the Northern District Court, any potential appellate proceedings in the Bankruptcy Court and the outstanding GWG-related claims against entities related to the Company’s founder and CEO to whom the Company owes certain indemnification obligations. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the risks, uncertainties, and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI: Beneficient Announces Court Approval of GWG Litigation Settlement

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, June 17, 2025 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Beneficient,” “Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform, AltAccess, today announced that the Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) has approved the previously disclosed settlement agreement resolving all claims pending in the Bankruptcy Court under the previously disclosed lawsuits relating to GWG Holdings, Inc. (“GWG” and such litigation, the “GWG Litigation”) against the Company, its subsidiaries, and each of their current and former directors and officers (the “Beneficient Parties”). The settlement agreement remains subject to the approval of the District Court for the Northern District of Texas (the “Northern District Court”).

    As previously announced on March 10, 2025, the Company entered into a binding settlement agreement to resolve all claims in the GWG Litigation for a sum within applicable insurance policy limits. With the Bankruptcy Court’s approval, the settlement in the Bankruptcy Court is now final, subject to a 14-day period to appeal. The settlement resolves all claims filed in the Bankruptcy Court against the Beneficient Parties without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant.

    “We are pleased that the Bankruptcy Court has approved this settlement, allowing us to move forward with a renewed focus on executing our business strategy and creating value for our shareholders,” said a Company spokesperson.

    Following the settlement of the GWG Litigation in the Bankruptcy Court, other outstanding GWG-related claims against parties other than the Beneficient Parties remain outstanding, including certain claims against entities related to Beneficient’s founder and CEO to whom Beneficient owes certain indemnification obligations. The Company continues to support a vigorous defense against such claims.

    About Beneficent

    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.

    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

    For more information, visit www.trustben.com or follow us on LinkedIn.

    Contacts
    Matt Kreps 214-597-8200 mkreps@darrowir.com
    Michael Wetherington 214-284-1199 mwetherington@darrowir.com
    investors@beneficient.com  

    Forward Looking Statements

    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding approval of the settlement agreement by the Northern District Court, any potential appellate proceedings in the Bankruptcy Court and the outstanding GWG-related claims against entities related to the Company’s founder and CEO to whom the Company owes certain indemnification obligations. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the risks, uncertainties, and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI: Fountain Asset Corp. Announces Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 17, 2025 (GLOBE NEWSWIRE) — Fountain Asset Corp. (TSXV: FA) (“Fountain”) announced today its intention to effect a normal course issuer bid through the facilities of the TSX Venture Exchange, subject to receipt of regulatory approval.

    Upon receiving regulatory approval, Fountain may, during the 12 month period commencing June 19, 2025 and ending June 18, 2026, purchase on the TSX Venture Exchange up to 3,216,335 subordinate voting shares in total for the purposes of cancellation, representing approximately 5% of the subordinate voting shares of Fountain currently issued and outstanding. The price which Fountain will pay for any such subordinate voting shares will be the market price at the time of acquisition. The actual number of subordinate voting shares which may be purchased and the timing of any such purchases will be determined by Fountain. Fountain has retained Canaccord Genuity Corp. to effect purchases on its behalf pursuant to the bid. Fountain is effecting the bid at this time as it believes that its subordinate voting shares are undervalued at their current market prices and that the purchase of subordinate voting shares would be a prudent use of funds.

    About Fountain Asset Corp.

    Fountain Asset Corp. is a merchant bank which provides equity financing, bridge loan services (asset back/collateralized financing) and strategic financial consulting services to companies across many industries such as marijuana, oil & gas, mining, real estate, manufacturing, retail, financial services, and biotechnology.

    For further information: please contact Andrew Parks at (416) 456-7019 or visit Fountain Asset Corp.’s website at www.fountainassetcorp.com.

    Cautionary Statement on Forward‐Looking Information

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

    No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward‐looking information which involve risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward‐looking information. Forward‐looking information in this news release includes, but is not limited to, any purchases that may be effected under the proposed normal course issuer bid and the terms of such purchases, if any, and the receipt of applicable regulatory approvals. Factors that could cause actual results to differ materially from such forward‐looking information include, but are not limited to, failure to obtain regulatory approvals, unavailability of financing, prevailing market conditions, as well as those risks set out in Fountain’s public documents filed on SEDAR. Although Fountain believes that the assumptions and factors used in preparing the forward‐looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Fountain disclaims any intention or obligation to update or revise any forward‐looking information, whether as a result of new information, future events or otherwise, other than as required by law.

    The MIL Network –

  • MIL-OSI Economics: Gent Sejko: Launching of the EBRD Transition Report 2024-25

    Source: Bank for International Settlements

    Dear guests, colleagues and friends,

    It is a special pleasure for me to be with you hosting the presentation of the Transition Report 2024-25 by the European Bank for Reconstruction and Development (EBRD).

    The Transition Report 2024-25 provides an in-depth analysis of a highly dynamic issue of nowadays: the reformulation of industrial policies in a global context shaped by new challenges and opportunities.  The EBRD, while placing it at the heart of this year’s Report, highlights the increasing complexity and strategic rebound of industrial policies as a tool to address structural changes in both advanced and developing economies in the 21st century.

    Nowadays, these policies in addition to being considered as a merely tool supporting the existing industries, should also be seen as a lever for establishing diversified and innovative economies. For more than two decades, in Albania and the region, we have prioritized structural reforms that build strong institutions, improve the business climate, and create an open and competitive economy. Over the past five years, these reforms have contributed to an average economic growth of 3.5–4%, a reduction in unemployment to 11.3% in 2024, and a 7% growth in private consumption. These reforms have been-and remain-essential, but today, they are no longer sufficient, as we face a completely different global reality.

    • Geopolitical tensions have caused a 30% increase in the cost of global supply chains since 2020.
    • According to WTO, trade fragmentation has reduced the global trade flow by 5.4% in 2023.
    • Reindustrialization policies in advanced economies (e.g., the Inflation Reduction Act in the USA and the EU Green Deal) which now channel over 80% of global investments in clean technologies.  

    Many economies-including our economy-are currently facing a demographic decline, changes in the labour market, and sectoral imbalances. In this context, the debate on industrial policies has shifted from discussion to clear, data-driven strategies.

    What does this mean in practice?

    First, we need to understand that today’s industrial policies are not about protecting old industries, in contrary they promote sectors of the future-those that can grow, scale up, and create sustainable value. For many EBRD countries, including Albania, the path to growth through traditional industrial exports has become more difficult. In its place, a new opportunity is emerging: the export of digitalized and internationally tradable services.

    These “global innovation services”- such as information technology, design, logistics, and data analysis-are at the heart of productivity growth and added value. But to develop them, strong foundations are needed, such as: investments in education, a skilled workforce, modern digital infrastructure, and high institutional capacities. Some Central and Eastern European economies have already become leading exporters in the field of computer services. Albania also has the potential to follow this path.

    Second, the policies we undertake must be aligned with the European integration process. As a small and open economy, with 70% of trade oriented towards the EU, Albania has much to gain by moving towards the European Union convergence. Moreover, membership in SEPA brings us closer to European markets and reduces international transaction costs by 30%.

    Third, we should ensure inclusion and sustainability. Industrial policies, in addition to focusing on sectors where we have potential to win in global markets, should also focus on those that are vital for employment and social cohesion within Albania. Specific-tailored local policies should underpin industrial policies, such as special economic zones-and be carefully designed, by emphasizing local and regional specific characteristics.

    Fourth, state aid should be directed on firms with high potential. Data show that new and dynamic firms are the main drivers of employment and innovation. Policies aimed at stimulating them-such as loan guarantees, subsidized interest loans, or government-backed venture capital funds-can make a big difference.

    Dear guests,

    In this debate on industrial policy and development directions, the role of the central bank, although not direct, is special and irreplaceable.

    The central bank does not compile industrial policies, but it contributes to them as a guarantor of macroeconomic and financial stability-a fundamental condition for any sustainable development. Today, we can say that the Albanian economy continues to grow (GDP grew by 4% in 2024, inflation remained at 2%, private credit increased by 16.7%, and the non-performing loans ratio has dropped to a historic low of 4%). These facts reflect a sound, stable financial system able to support the real sector.

    Price stability, functional financial systems, a banking sector, and a modern payment system that serves the real economy-are important prerequisites for long-term investment and sustainable development of the country. Beyond this, the Bank of Albania is also providing a significant contribution to improving financial inclusion through innovations in payment systems and membership in SEPA, the institutionalization of the basic account, effective supervision, financial education, and the promotion of financial innovation. These interventions open new markets and opportunities, so the Bank of Albania will continue to contribute to all these areas with dedication and professionalism.

    Concluding, I invite you to be ambitious yet prudent; to design industrial policies that are smart, inclusive, and aligned with our long-term aspirations. Above all, let us invest not only in sectors of economy, but also in people as the basic unit of the workforce, as well as in institutions and infrastructure that will define the Albania of tomorrow, in our path towards European integration, as a space of opportunities for continuous transformation.

    Thank You!

    MIL OSI Economics –

  • MIL-OSI Economics: Gent Sejko: Launching of the EBRD Transition Report 2024-25

    Source: Bank for International Settlements

    Dear guests, colleagues and friends,

    It is a special pleasure for me to be with you hosting the presentation of the Transition Report 2024-25 by the European Bank for Reconstruction and Development (EBRD).

    The Transition Report 2024-25 provides an in-depth analysis of a highly dynamic issue of nowadays: the reformulation of industrial policies in a global context shaped by new challenges and opportunities.  The EBRD, while placing it at the heart of this year’s Report, highlights the increasing complexity and strategic rebound of industrial policies as a tool to address structural changes in both advanced and developing economies in the 21st century.

    Nowadays, these policies in addition to being considered as a merely tool supporting the existing industries, should also be seen as a lever for establishing diversified and innovative economies. For more than two decades, in Albania and the region, we have prioritized structural reforms that build strong institutions, improve the business climate, and create an open and competitive economy. Over the past five years, these reforms have contributed to an average economic growth of 3.5–4%, a reduction in unemployment to 11.3% in 2024, and a 7% growth in private consumption. These reforms have been-and remain-essential, but today, they are no longer sufficient, as we face a completely different global reality.

    • Geopolitical tensions have caused a 30% increase in the cost of global supply chains since 2020.
    • According to WTO, trade fragmentation has reduced the global trade flow by 5.4% in 2023.
    • Reindustrialization policies in advanced economies (e.g., the Inflation Reduction Act in the USA and the EU Green Deal) which now channel over 80% of global investments in clean technologies.  

    Many economies-including our economy-are currently facing a demographic decline, changes in the labour market, and sectoral imbalances. In this context, the debate on industrial policies has shifted from discussion to clear, data-driven strategies.

    What does this mean in practice?

    First, we need to understand that today’s industrial policies are not about protecting old industries, in contrary they promote sectors of the future-those that can grow, scale up, and create sustainable value. For many EBRD countries, including Albania, the path to growth through traditional industrial exports has become more difficult. In its place, a new opportunity is emerging: the export of digitalized and internationally tradable services.

    These “global innovation services”- such as information technology, design, logistics, and data analysis-are at the heart of productivity growth and added value. But to develop them, strong foundations are needed, such as: investments in education, a skilled workforce, modern digital infrastructure, and high institutional capacities. Some Central and Eastern European economies have already become leading exporters in the field of computer services. Albania also has the potential to follow this path.

    Second, the policies we undertake must be aligned with the European integration process. As a small and open economy, with 70% of trade oriented towards the EU, Albania has much to gain by moving towards the European Union convergence. Moreover, membership in SEPA brings us closer to European markets and reduces international transaction costs by 30%.

    Third, we should ensure inclusion and sustainability. Industrial policies, in addition to focusing on sectors where we have potential to win in global markets, should also focus on those that are vital for employment and social cohesion within Albania. Specific-tailored local policies should underpin industrial policies, such as special economic zones-and be carefully designed, by emphasizing local and regional specific characteristics.

    Fourth, state aid should be directed on firms with high potential. Data show that new and dynamic firms are the main drivers of employment and innovation. Policies aimed at stimulating them-such as loan guarantees, subsidized interest loans, or government-backed venture capital funds-can make a big difference.

    Dear guests,

    In this debate on industrial policy and development directions, the role of the central bank, although not direct, is special and irreplaceable.

    The central bank does not compile industrial policies, but it contributes to them as a guarantor of macroeconomic and financial stability-a fundamental condition for any sustainable development. Today, we can say that the Albanian economy continues to grow (GDP grew by 4% in 2024, inflation remained at 2%, private credit increased by 16.7%, and the non-performing loans ratio has dropped to a historic low of 4%). These facts reflect a sound, stable financial system able to support the real sector.

    Price stability, functional financial systems, a banking sector, and a modern payment system that serves the real economy-are important prerequisites for long-term investment and sustainable development of the country. Beyond this, the Bank of Albania is also providing a significant contribution to improving financial inclusion through innovations in payment systems and membership in SEPA, the institutionalization of the basic account, effective supervision, financial education, and the promotion of financial innovation. These interventions open new markets and opportunities, so the Bank of Albania will continue to contribute to all these areas with dedication and professionalism.

    Concluding, I invite you to be ambitious yet prudent; to design industrial policies that are smart, inclusive, and aligned with our long-term aspirations. Above all, let us invest not only in sectors of economy, but also in people as the basic unit of the workforce, as well as in institutions and infrastructure that will define the Albania of tomorrow, in our path towards European integration, as a space of opportunities for continuous transformation.

    Thank You!

    MIL OSI Economics –

  • MIL-OSI Africa: Private sector urged to use SAYouth.mobi to create more job opportunities

    Source: South Africa News Agency

    President Cyril Ramaphosa has called on businesses and other public sector entities to use SAYouth.mobi to provide more pathways for young people to earning and learning.

    In his weekly newsletter, the President reflected that the country observed Youth Day on 16 June in tribute to the generations of young people who continue to inspire the ongoing pursuit for social justice, equality and opportunity for all.

    “The private sector needs to use all available mechanisms, including the Employee Tax Incentive, to hire young people.

    “South Africa’s young people deserve to lead lives of dignity. Unemployment is robbing far too many youths of this right. As government and business, let us continue to work together and do all within our means to empower young people to find jobs and create their own opportunities,” the President said. 

    WATCH | Youth Day commemoration 

    [embedded content]

    President Ramaphosa said that if the country is to live up to the democratic promise for which so many sacrificed their lives, it is essential to invest in today’s generation of young people and unleash their potential.

    Like many parts of the world, he highlighted that South Africa is grappling with high youth unemployment. 

    “To overcome this challenge, we need an approach that includes investing in education and skills development, fostering youth entrepreneurship and implementing targeted employment programmes focusing on young people,” he said. 

    As part of this work, government established the Presidential Employment Stimulus and the Presidential Youth Employment Intervention, initiatives that are providing opportunities to hundreds of thousands of young people at a time when not enough jobs are being created to absorb new entrants into the labour market.

    Since it began in 2020, the Presidential Employment Stimulus has provided more than two million jobs and livelihood opportunities. Of the participants in the programme to date, 72% are young people and 66% are women.

    A vital part of government’s efforts to empower young people is the SAYouth.mobi platform, which is a single point for unemployed young South Africans to access opportunities for work, training and learning.

    There are now over 4.7 million young people registered on the SAYouth platform and the Department of Employment and Labour’s employment services database. Through these platforms, young people have been supported to access over 1.6 million earning opportunities.

    “Last week in the City of Tshwane, I met with a number of young people who told me excitedly they had been approached by potential employers who had seen their profiles on SA Youth.mobi.

    “I want to encourage young job-seekers to utilise this trusted recruitment platform at https://sayouth.mobi/. Registration is free and the app is zero rated, meaning you can access the site and its contents without incurring any data charges,” the President said. 

    READ | Presidential Youth Initiative continues to empower SA’s most excluded youth

    The President said government has also focused on providing workplace experience and on-the-job training. He added that young people have often expressed frustration around the onerous experience requirements from employers, which effectively serve as a barrier to entry for them. 

    In 2019, government abolished the work experience requirement for entry level jobs in the public sector. Through the Youth Employment Service, a collaboration with the private sector, thousands of young people have been placed in workplace experience opportunities in a range of economic sectors.

    “The extent and scale of the youth unemployment crisis means that we should not focus solely on placing more young people in formal, existing jobs, but that we must bolster skills development and foster an entrepreneurial culture.

    “It is critical that we overcome the mismatch between the skills available in the workforce and market need,” he said. 

    President Ramaphosa said this is why government is investing in vocational training. 

    “We have increased funding to Technical and Vocational Education and Training (TVET) colleges and subsidies for the operationalisation of new campuses. Each year, we are placing thousands of learners and graduates into workplace experience opportunities.

    “Entrepreneurship is a key economic growth driver, but rates of entrepreneurial activity in South Africa are relatively low compared to other countries. We are working to foster an enabling environment that allows more young people to become self-employed,” the President said. 

    The Presidential Youth Employment Intervention has been working with the National Youth Development Agency and the Department of Small Business Development to financial and non-financial support to young people for their businesses.

    “Through all of these initiatives, the state has supported millions of young South Africans with work opportunities, work experience and skills development. However, we can only vastly scale up the employment of young people with greater private sector involvement,” the President said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Banking: Eurosystem launches single collateral management system

    Source: European Central Bank

    17 June 2025

    • Eurosystem Collateral Management System marks significant step in harmonisation of collateral management in euro area
    • New set-up replaces 20 collateral management systems previously operated by national central banks

    The Eurosystem successfully launched its new, unified Eurosystem Collateral Management System (ECMS) on 16 June 2025 after the migration to the new set-up was completed over the weekend of 13-15 June. The ECMS thus becomes the fourth TARGET Service in operation, advancing the Eurosystem’s vision for a unified, efficient and innovative European financial framework.

    The ECMS manages assets used as collateral in Eurosystem credit operations. Together with the other TARGET Services, the ECMS will ensure that cash, securities and collateral can flow freely across Europe.

    The software and the environment for the new system were delivered by the Deutsche Bundesbank, the Banco de España, the Banque de France and the Banca d’Italia – the four national central banks that act as service providers for TARGET Services (T2, TARGET2-Securities and TIPS). The successful launch of the ECMS reflects the joint efforts and commitment of all euro area central banks in supporting their market participants (counterparties, central securities depositories and triparty agents) throughout this project. Thanks to close cooperation and extensive activities such as testing and migration rehearsals, all parties have ensured that participants can fully leverage the benefits of the new platform from day one.

    With the ECMS going live, the Eurosystem now offers a single system that harmonises the management of collateral for Eurosystem credit operations. The ECMS replaces the individual national collateral management systems previously operated by the 20 euro area national central banks. Furthermore, the ECMS will facilitate the smooth flow of cash, securities and collateral within the euro area by enhancing the liquidity management features of the TARGET Services.

    For media enquiries, please contact Alessandro Speciale, tel.: +49 172 1670791.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Thales Alenia Space signs contract with OHB to provide critical elements for LISA mission

    Source: Thales Group

    Headline: Thales Alenia Space signs contract with OHB to provide critical elements for LISA mission

    The European Space Agency’s LISA mission will be the first space-based observatory designed to detect and study gravitational waves arising from cosmic events

    Paris Air Show — June 17, 2025 — Thales Alenia Space, the joint venture between Thales (67%) and Leonardo (33%), has signed a €263 million contract with prime contractor OHB System AG for the development of key elements for ESA’s Laser Interferometer Space Antenna (LISA) mission. LISA will be the first space-based observatory dedicated to studying gravitational waves.

    LISA mission © OHB

    LISA: a future constellation of three satellites spaced 2.5 million kilometers apart.

    LISA will detect gravitational waves, ripples in space-time predicted by Einstein’s general theory of relativity generated by massive accelerating objects, with a sensitivity and in a frequency range that cannot be measured from the ground. 

    This groundbreaking mission will enable scientists to study gravitational waves generated by many different types of events, from interacting compact stars to merging supermassive black holes at the cores of galaxies, and to expand our cosmic horizon back to the epochs preceding the formation of stars and galaxies.

    The spacecraft must be meticulously designed to ensure that no forces, apart from the geometry of space-time itself, influence the movement of the masses, so that they are in near-perfect free-fall along the measurement directions.

    The LISA mission will feature a three-satellite constellation positioned in a triangular formation, spaced 2.5 million kilometers apart, trailing or preceding Earth in its orbit around the Sun. Each satellite will carry two reference masses, and laser beams will be transmitted between the satellites to measure the displacement of these masses with a precision ten times smaller than that of an atom. The three satellites are scheduled to launch in 2035 aboard an Ariane 6 rocket.

    LISA mission: Thales Alenia Space’s contribution

    Thales Alenia Space will provide prime contractor OHB System AG with several mission-critical elements, including the spacecraft avionics and control software, the telecommunication system, and the drag-free and attitude control system (DFACS). The DFACS is a core component of the LISA mission. It will perform the “constellation acquisition” operation, consisting in establishing and maintaining the laser links between the satellites, and will compensate the non-gravitational forces on the spacecraft, such as solar radiation pressure, so that the test masses follow a purely geodesic motion along the satellite-to-satellite direction.

    Thales Alenia Space is also responsible for ensuring the exceptional electromagnetic, radiation, and self-gravity operational environment for the payload, essential to mission performance, for which Thales Alenia Space is also managing the budgets. 

    Leonardo is also contributing with its technologies to the LISA mission with some key equipment, such as the micro propulsion assemblies, a highly precise system of thrusters used to control the satellite’s attitude with extreme accuracy.
     

    Who’s doing what at Thales Alenia Space?

    Thales Alenia Space in Italy, particularly at its Turin facility, is the only member of the LISA Core Team with experience and design solutions inherited from the study phase, which lasted over five years and was led by Thales Alenia Space as the prime contractor. Thales Alenia Space in the UK is working as a subcontractor for OHB, responsible for the satellites’ propulsion system, while the Swiss division is involved in developing part of the instrument’s electronics and of the Constellation Acquisition System for LISA. Other company sites will also have the opportunity to contribute to the LISA mission, supplying spacecraft subsystems or equipment.
     

    Leveraging a longstanding legacy in science and space exploration

    The spacecraft builds on the legacy of LISA Pathfinder, which successfully demonstrated the ability to maintain test masses in free-fall with an extraordinary level of precision. The same precision propulsion system, which has also been utilized on ESA’s Gaia and Euclid missions, will ensure that each spacecraft keeps the laser interferometer beams pointed at the remote spacecraft 2.5 million kilometers away with the utmost accuracy.

    Signature Ceremony © ESA

    “I am delighted with this new mission, which builds on Thales Alenia Space’s longstanding legacy in numerous European scientific missions,” said Giampiero Di Paolo, Deputy CEO and Senior Vice President Observation, Exploration, and Navigation at Thales Alenia Space. “From the GOCE mission, the first satellite equipped with a ‘drag-free’ control system successfully developed by Thales Alenia Space, to Euclid, which utilized key technologies planned for the LISA mission, we are proud to be advancing science through our expertise and technical capabilities”.

    About Thales Alenia Space 

    Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental monitoring, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources, and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the Space Alliance, which offers a complete range of solutions including services. Thales Alenia Space posted consolidated revenues of €2.23 billion in 2024 and has more than 8,100 employees in 7 countries with 15 sites in Europe.  

    MIL OSI Global Banks –

  • MIL-OSI Banking: Thales to supply Airbus Defence & Spacewith safety satcom for its A400M military transport aircraft

    Source: Thales Group

    Headline: Thales to supply Airbus Defence & Spacewith safety satcom for its A400M military transport aircraft

    Airbus Defence & Space has selected Thales to supply the safety satcom system of the A400M military transport aircraft programme. The A400M is a military airlifter that combines the ability to fly to long distances, carrying loads too heavy or too large for medium airlifters. Extended connectivity is thus critical for ensuring mission success and operational effectiveness.

    MIL OSI Global Banks –