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  • MIL-OSI: Stardust Power Announces Exclusive Licensing Agreement for Lithium Brine Concentration Technology from KMX Technologies

    Source: GlobeNewswire (MIL-OSI)

    • Following the October 8, 2024 announcement, Stardust Power finalizes exclusive licensing agreement with KMX Technologies to enhance lithium production efficiency and sustainability.

    GREENWICH, Conn., Feb. 10, 2025 (GLOBE NEWSWIRE) — Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, today announced the execution of an exclusive licensing agreement with KMX Technologies, Inc. (“KMX”), a leader in advanced lithium brine concentration technology. This agreement grants Stardust Power the exclusive rights to utilize KMX’s innovative vacuum membrane distillation (“VMD”) technology for lithium extraction and concentration across the United States, Canada, and select international markets.

    The exclusive license grants Stardust Power the full rights to use and operate KMX VMD units within the designated territory and field of use for lithium. This agreement will support Stardust Power’s continued commitment to build out the North American lithium supply chain and onshoring of critical minerals in the rapidly growing North America lithium market.

    “This exclusive licensing agreement with KMX Technologies is a pivotal step forward in advancing Stardust Power’s sustainability and operational efficiency goals,” said Roshan Pujari, CEO and Founder of Stardust Power. “KMX’s VMD technology offers a unique opportunity to reduce both energy consumption and water use across our supply chain, particularly by concentrating lithium feedstocks for efficient logistics. By incorporating this technology, we aim to significantly lower operating costs while strengthening the U.S. critical mineral supply chain and enhancing national security, all while doing so in an environmentally responsible manner.” KMX’s technology is ideal for Stardust Power’s innovative hub and spoke refinery model. By reducing the volume of the brine feedstock, less volume needs to be transported. The large central refinery is designed to repulp feedstock and blend as needed.

    KMX’s VMD technology is capable of concentrating lithium from brine sources with minimal losses, thereby enhancing the economic viability of lithium projects. Additionally, the technology produces high-quality water as a byproduct, which can be used to minimize reliance on local freshwater resources in the lithium extraction process, a key factor in increasing water sustainability for the industry.

    Zachary Sadow, CEO of KMX Technologies, added, “We are excited to partner with Stardust Power, a visionary company dedicated to driving sustainability and innovation within the lithium sector. This agreement represents a shared commitment to improving the efficiency and environmental footprint of the lithium supply chain.”

    With the execution of this agreement, Stardust Power is positioned to deploy KMX’s VMD technology throughout Stardust Power’s network design and supply chain in order to optimize delivery of feedstocks to its lithium refinery under development in Muskogee, Oklahoma, with up to 50,000 metric tons per annum production capacity upon completion. The Company plans to integrate this advanced technology to further enhance the environmental and economic performance of its lithium production processes.

    About Stardust Power Inc.
    Stardust Power is a developer of battery-grade lithium products designed to bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The Company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.”

    For more information, visit www.stardust-power.com

    About KMX Technologies, Inc.
    KMX Technologies is solving the most critical environmental and energy challenges of the 21st century. Through its proprietary membrane distillation technology, the company sustainably sources critical minerals necessary for next generation supply chains and infrastructure, is advancing wastewater treatment, and is accelerating energy storage with its direct lithium recovery enhancement processes.

    Stardust Power Contacts

    For Investors:
    Johanna Gonzalez
    investor.relations@stardust-power.com

    For Media:
    Michael Thompson
    media@stardust-power.com

    Cautionary Note Regarding Forward-Looking Statements
    Certain statements in this press release constitute “forward-looking statements.” Such forward-looking statements are often identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “forecasted,” “projected,” “potential,” “seem,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability of Stardust Power to realize the anticipated benefits of KMX’s technology; the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; obtaining the necessary permits and governmental approvals to develop the site; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.

    Stockholders and prospective investors should carefully consider the foregoing factors, and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC.

    Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    The MIL Network –

  • MIL-OSI: Evome Medical Technologies Announces Significant Debt Reduction and Restructuring

    Source: GlobeNewswire (MIL-OSI)

    SHIRLEY, N.Y., Feb. 10, 2025 (GLOBE NEWSWIRE) — Evome Medical Technologies Inc. (the “Company”) (TSXV: EVMT) has announced a significant reduction in its overall ‎debt, strengthening its financial position, as a result of the execution of an amendment (the “Amendment”) to the forbearance agreement dated August 4, 2023 between the Company, Biodex Rehab Systems, LLC (“Biodex Rehab”), a wholly owned subsidiary of the Company, and Biodex Medical Systems, Inc. (“Biodex Medical”), a wholly owned subsidiary of Biodex Rehab, and Mirion Technologies (US), Inc. (“Mirion”).

    ‎The Amendment significantly improves the Company’s financial position by reducing its ‎outstanding debt to Mirion and extending repayment terms, while maintaining the Company’s commitment to ‎manufacture Mirion’s products under the existing contract manufacturing agreement ‎‎(the “CMA”) dated April 3, 2023 between Biodex Medical Systems, Inc. and Mirion Technologies (Capintec), Inc., an affiliate to Mirion.

    Pursuant to the Amendment, Biodex Rehab’s outstanding debt to Mirion has been reduced from ‎‎$6.7 million due in July 2025 to $4.25 million due in April 2030 – a $2.45 million reduction in ‎debt and a repayment extension of four years and nine months. In exchange, Biodex Medical has ‎committed to producing and delivering a guaranteed quantity of Mirion’s products under the current CMA until ‎March 2026 or sooner if Mirion is successful in transitioning the CMA ‎to a new manufacturer.‎

    Additionally, Mirion has agreed to remove restrictions imposed on the Company to use certain amounts of financing proceeds to repay debt to Mirion, ‎providing the Company with greater financial flexibility to raise capital and execute its growth plans. Mirion has ‎also relaxed certain restrictions on the Company’s merger and acquisition (M&A) activity, allowing ‎the Company to explore strategic opportunities more freely.‎

    Strategic and Financial Benefits for Evome

    The Amendment marks a major milestone in the Company’s ongoing restructuring strategy. By ‎reducing debt at both the parent company and subsidiary levels, the Company strengthens its ‎balance sheet and enhances its debt-to-equity ratio, improving overall financial stability. ‎Through the Amendment, the Company also gains the flexibility to raise capital and focus on high-‎margin business lines.‎

    In addition, the Amendment also underscores the continued progress for the Company under CEO Michael ‎Seckler, who has now successfully reduced total debt by $5.5 million since assuming the ‎leadership role in July 2023.

    ‎“This agreement strengthens our financial position and ensures we have the flexibility and ‎resources to drive growth,” said Michael Seckler, CEO of the Company. “By reducing our debt ‎burden, optimizing our assets, and securing capital-raising freedom, we are in a much ‎stronger position to expand our product offerings, invest in innovation, and execute on our ‎long-term vision. Evome remains committed to delivering high-quality products and ‎advancing its strategic goals while continuing to build shareholder value and strengthen its ‎financial foundation.”‎

    About Evome Medical Technologies Inc.

    Evome, through its operating subsidiaries, specializes in human performance and rehabilitative solutions achieved through strategic acquisitions and leveraging the intellectual properties of specialized companies. Evome’s goal is to create a large, broad-based medical device company with global reach. For more information visit www.evomemedical.com. Biodex® boasts innovative rehabilitation solutions, recognized for its advanced product line serving orthopedic, sports medicine and neurorehabilitation needs. Renowned for its precision and durability, Biodex® offers advanced equipment such as balance and mobility systems, isokinetic testing devices and comprehensive upper extremity rehabilitation tools. With a presence in over 70 countries and partnerships with 52 distributors, Biodex® continues to drive advancements in patient care through a strong commitment to research, education and technology integration.

    For more information please contact:‎

    Mike Seckler ‎
    Chief Executive Officer ‎
    Tel: 1 (800) 760-6826 ‎
    Email: Info@Salonaglobal.com‎

    Additional Information

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

    Certain statements contained in this press release constitute “forward-looking information” within ‎the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities ‎laws. These statements can be identified by the use of forward-looking terminology such as “expects” ‎‎“believes”, “estimates”, “may”, “would”, “could”, ‎‎”should”, “potential”, ‎‎‎‎‎”will”, “seek”, “intend”, ‎‎”plan”, and “anticipate”, and similar expressions as they relate ‎‎‎‎to the Company. All ‎statements ‎other than statements of ‎historical fact may be ‎forward-looking‎ information. Such statements reflect the Company’s current views and intentions with ‎respect to future ‎events, and current information available to the Company, and are subject to certain ‎risks, ‎uncertainties and assumptions. The ‎Company cautions that the forward-looking statements contained herein are qualified by important ‎factors that could cause actual results to differ materially from those reflected by such statements. ‎Such factors include but are not limited to the ‎‎general business and ‎‎economic ‎conditions in the ‎regions in ‎which the Company operates; the ability of the Company to execute on key ‎‎priorities, ‎‎including the successful completion of acquisitions, business‎ retention, and‎‎ strategic plans and to‎‎ ‎attract, develop ‎and retain key executives; difficulty integrating newly acquired businesses; ‎‎ongoing ‎or new disruptions in the supply chain, the extent and scope of such supply chain disruptions, and the ‎timing or extent of the resolution or improvement of such disruptions; the ability to‎‎‎ implement ‎business strategies and pursue business opportunities; ‎‎disruptions in or attacks (including ‎cyber-‎attacks) on the Company’s information technology, internet, network access or other ‎‎voice or data ‎‎communications systems or services; the evolution of various types of fraud or other ‎‎‎criminal ‎behavior to which ‎the Company is exposed; the failure of third parties to comply with their ‎obligations to ‎‎the Company or its ‎affiliates; the‎ impact of new and changes to, or application of, ‎current laws and regulations; ‎granting of permits and licenses in a highly regulated business; the ‎‎overall difficult ‎‎‎‎‎litigation environment, including in the United States; increased competition; changes ‎in foreign currency rates; ‎increased ‎‎‎‎funding ‎costs and market volatility due to market illiquidity and ‎competition for funding; the ‎availability of funds ‎‎‎‎and resources to pursue operations; critical ‎‎accounting estimates and changes to accounting standards, policies,‎‎‎‎ and methods used by the ‎Company; the occurrence of natural and unnatural‎‎ catastrophic ‎events ‎and claims ‎‎‎‎resulting from such ‎events; as well as those risk factors discussed or ‎referred to ‎in the ‎Company’s disclosure ‎documents ‎filed with ‎‎the securities regulatory authorities in certain provinces of Canada and ‎‎available at ‎‎www.sedarplus.com. Should any ‎factor affect the Company in an unexpected manner, or should ‎‎‎assumptions underlying ‎the forward-looking ‎information prove incorrect, the actual results or events ‎may differ ‎‎materially from the results ‎or events predicted. ‎Any such forward-looking information is ‎expressly qualified in its ‎‎entirety by this cautionary ‎statement. Moreover, ‎the Company does not ‎assume responsibility for the accuracy or ‎‎completeness of such ‎forward-looking ‎information. The ‎forward-looking information included in this press release ‎‎is made as of the ‎date of this press ‎release ‎and the Company undertakes no obligation to publicly update or revise ‎‎any forward-‎looking ‎information, ‎other than as required by applicable law‎.‎

    The MIL Network –

  • MIL-OSI United Kingdom: Growing Orkney’s renewables potential

    Source: Scottish Government

    Investment in significant offshore wind project.

    Ambitious plans to create a major new renewables hub in Orkney have been accelerated with a £5 million grant to help take the project to the next stage.

    The funding will further the development of a new harbour facility for the assembly of offshore wind turbines at Scapa Flow – the largest natural harbour in the northern hemisphere.

    The Scapa Deep Water Quay will help to attract inward investment to the area, creating a new, cutting edge hub for offshore wind – supporting the expansion of windfarms off the coast of Scotland and Europe.

    The grant comes from Highlands and Islands Enterprise and is part of the Scottish Government’s wider strategic investment of up to £500 million over five years to develop the offshore wind supply chain.

    Announcing the new funding whilst in Orkney, First Minister John Swinney said:

    “Accelerating Scotland’s offshore wind capabilities is crucial as we prioritise maximising Scotland’s vast potential in renewable energy. Not only are we striving to take our place at the forefront of the global green energy revolution, investments like this help us guarantee a just transition for our existing skilled workforce, maintaining their vital role in Scotland’s energy landscape.

    “This landmark project will help attract private investment in the area, creating new highly paid jobs and unlocking enormous economic opportunities for the Orkney Islands and Scotland as a whole. This is another example of how, together with local government and our partners, we are delivering on our collective priorities of growing the economy and protecting the planet.”

    Director of Strategic Projects at HIE David Oxley said:

    “Scotland has been at the forefront of renewable energy development and Orkney has been at the heart of this for the past 20 years. The proposed Scapa Deep Water Quay is set to help advance the industry to the next level It will help attract inward investment, create jobs and drive economic growth in Orkney, the Highlands and Islands and across Scotland, as well as contributing to the country’s net zero ambitions.

    “This funding for the PCSA will ensure the council has access to all the information it needs to make an informed decision and bring the project to the next stage.”

    Leader of Orkney Islands Council Councillor Heather Woodbridge said:

    “This funding award from HIE, demonstrates the Scottish Government’s understanding of the importance of the energy sector, not only here in Orkney but to Scotland as a whole.  Securing the funding unlocks the potential for Orkney – alongside the wider industry – to further explore and develop a vision for our role in the continued growth of renewable energy, and is reflective of the good work, prominence, and reputation of our islands in this.

    “Development of facilities in Scapa Flow could deliver considerable economic benefits to the area – especially as we look to counterbalance any potential downturn in the oil industry. Enhancing our marine capabilities and strengthening our capacity to support future industrial and commercial activities is key to this.”

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: CE meets Heilongjiang officials

    Source: Hong Kong Information Services

    Continuing his visit to Harbin, Chief Executive John Lee today called on leaders of Heilongjiang Province, visited injured Hong Kong ice hockey athletes, met Hong Kong people working in the three northeastern provinces, and toured the Beidahuang Museum.

    Mr Lee met respectively CPC Heilongjiang Provincial Committee Secretary Xu Qin and Heilongjiang Governor Liang Huiling to exchange views on issues of mutual concern.

    The Chief Executive remarked that Heilongjiang Province has leveraged the ice and snow economy as a new engine for economic development by making good use of its rich tourism resources while actively promoting winter sports. He added that Heilongjiang Province sets an example of integrating sports with cultural and tourism development, which is inspiring to Hong Kong.

    Noting that Hong Kong is the largest source of external investment for Heilongjiang, Mr Lee said Hong Kong, as a “super connector” and a “super value-adder”, can serve the Mainland in exploring global markets.

    Additionally, highlighting that the Individual Visit Scheme has been extended to include Harbin in Heilongjiang Province since last May, while direct flights between Harbin and Hong Kong were launched last June, Mr Lee said tourism co-operation between the two places has been strengthened, thereby promoting people-to-people bonds.

    The Beijing Office and Liaoning Liaison Unit of the Hong Kong Special Administrative Region Government will continue to serve as a bridge to enhance exchanges between Hong Kong and Heilongjiang in various areas, he added.

    Separately, Mr Lee visited the Hong Kong ice hockey players who were injured yesterday after a match at the 9th Asian Winter Games Harbin 2025, to understand their condition and offer his support.

    The Chief Executive stressed that he is highly concerned about the attack on Hong Kong athletes. He has requested the Sports Federation & Olympic Committee of Hong Kong, China as well as the Culture, Sports & Tourism Bureau to follow up on the incident and make every effort to ensure the athletes’ safety.

    He pointed out that the Hong Kong players had remained calm and restrained during the incident, demonstrating professionalism and sportsmanship, and praised the ice hockey team for its outstanding performance in the past competitions, making Hong Kong people proud.

    The Chief Executive also encouraged the athletes not to let the incident affect their morale, to take good care of themselves and to give their best in the Games, assuring them that Hong Kong people would fully support them.

    While meeting Hong Kong people working and doing business in the three northeastern provinces to learn about their daily lives and development, he encouraged them to introduce Hong Kong’s latest developments to local enterprises and tell the good stories of Hong Kong.

    In the afternoon, Mr Lee visited the Beidahuang Museum to understand the transformation of the “Great Northern Wilderness”, a plain region in northeastern Heilongjiang, from a barren wilderness into a key commodity grain base and a strategic grain reserve base of China. He also gained insights into the “Beidahuang spirit” which embodies perseverance, resilience and a pioneering mindset.

    Meanwhile, Secretary for Culture, Sports & Tourism Rosanna Law had a work meeting with Heilongjiang Province Department of Culture & Tourism Director-General He Jing this afternoon, during which she gave a briefing on the latest developments of Hong Kong’s culture and tourism.

    Miss Law told the meeting that as the cultural and tourism resources of Hong Kong and Heilongjiang are unique in their own ways, there is significant potential for collaboration. She expressed hope to expand the market and drive bilateral tourism flow with Heilongjiang in the future.

    The Chief Executive will head back to Hong Kong tomorrow.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Macron says tariffs on EU not in US interests

    Source: China State Council Information Office

    French President Emmanuel Macron has said that tariffs on the European Union (EU) are not in the interests of the United States.

    “If you want Europe to be engaged on more investment in security … which I think is in the interests of the U.S., you should not hurt the European economies by threatening it with tariffs,” Macron told CNN in an interview aired on Sunday, stressing that Europe is a U.S. ally.

    If Washington puts tariffs on many sectors, that will increase the costs of goods and bring inflation in the United States, warned Macron.

    A lot of the European savings are financing the U.S. economy, explained the French president. “If you start putting tariffs everywhere, you would cut the link, and it would not be good for the financing of the U.S. economy.”

    Earlier this month, Trump threatened the EU with new tariffs, citing Europe’s huge trade surplus with the United States.

    MIL OSI China News –

  • MIL-OSI USA: Irradiator Removal Saves Millions of Dollars While Making Campuses Safer

    Source: US State of Connecticut

    In a milestone move intended to increase campus safety and lower operational costs, safety officials at UConn Storrs and UConn Health recently coordinated the removal of four cesium-sourced irradiators used for research and medical purposes.

    The disposal operation – a costly, highly-choreographed effort at each site that involved cranes, giant disposal casks, flatbed trucks, and campus and state police escorts – was made possible through the Cesium Irradiator Replacement Project (CIRP), a voluntary initiative of the U.S. Department of Energy (DOE) offering financial incentives to medical and research institutions willing to replace cesium-137 irradiators with new x-ray-based devices. Run by DOE’s National Nuclear Security Administration (NNSA), Office of Radiological Security (ORS), the program covers 100% of the cost of disposing cesium-137 based irradiators and reimburses up to 50% of the purchase price of new equipment.

    Kevin Higgins, the radiation safety officer at UConn Health, estimates it would have cost roughly $580,000 each – a total of $1.74 million – had UCH attempted to dispose its three irradiators on its own. Another $450,000 to $500,000 in savings was realized, he says, thanks to CIRP covering half the cost of two new X-ray irradiators that replaced the two cesium-based devices used by researchers and the blood bank at UCH. A third cesium irradiator no longer in use, was removed but not replaced.

    At Storrs CIRP helped offset roughly $882,000 in costs associated with the removal and replacement of its single cesium-sourced irradiator, a 1969-era model housed in the Pharmacy Biology Building and used for genetics and cell research, says Amy Courchesne, the radiation safety officer at UConn Storrs. The program also reimbursed the cost of add-ons for the new X-ray irradiator, which included specialized accessories, and $16,000 for modifications to the room it occupies, and a service contract.

    “If we decided not to go with CIRP, the University would have had to cover those costs,” she says.

    The primary goal of CIRP is to reduce the security risks associated with the institutional use of cesium-137 and cobalt-60 sourced irradiators. The irradiators are safely shielded to protect users from exposure but contain highly radioactive isotopes with a long half-life that could pose a significant health risk if dismantled from their protective shielding or released into the environment.

    While radioactive source irradiators have benefits, such as scientific research and the irradiation of blood, they would pose a grave risk to communities should they be lost or stolen. In the wrong hands, even a small amount of high-activity radioactive material could be used in an act of radiological terrorism.

    Contributed photo.

    UConn is among the hundreds of academic, medical, and other institutions to participate in CIRP since its inception in 2014. In course of 10 years, the program has facilitated the replacement of 67% of the radio-isotopic irradiators in the United States, according to Evan Thompson, a foreign affairs specialist with NNSA.

    As of Sept. 5, 2024, some 235 cesium-137-sourced blood irradiators have been replaced through the program and 82% of self-shielded cesium-137-based blood irradiators in the U.S. have been replaced, removed, or are slated for removal by contract or pledge.

    Replacing the irradiators at both sites required a great deal of planning, teamwork, and coordination. At UCH, the new research irradiator was installed prior to the cesium irradiator being removed. For the blood bank, an entirely new location for blood irradiation was constructed.

    On removal day, UConn, state, and local police were onsite to secure the site and manage traffic flow. The irradiators were then disassembled to access the shielded containers housing the radioactive sources. The containers, which weigh several thousand pounds, were then moved under police escort to a loading dock, lifted from there to a loading dock and placed on the ground. A crane then hoisted them up and into a specially designed shipping cask securely fastened to the flatbed tractor-trailer. As a last step, the cask was pressure tested to ensure proper assembly and escorted offsite by state and local police.

    The advantages of participating in the program go well beyond the cost savings associated with removal and replacement, notes Courchesne. The bureaucratic and regulatory aspects of operating the cesium-sourced irradiators were significant.

    “Due to security, FBI background checks were required for unescorted access,” she says. “After 9/11, the Nuclear Regulatory Commission put additional security orders into effect, including 24/7 monitoring, fail-safe monitoring with backup power, contingency planning and more.”

    The stricter rules prohibited the university from publicly disclosing that it owned a cesium-sourced irradiator, which limited use of the device to researchers within the university. Individuals interested in using the irradiator for research had to contact Courchesne and take an exam to ensure they had the capability to safely use it, then be escorted by radiation safety personnel when they used it.

    Under CIRP, the cradle-to-grave custodianship of the cesium-sourced devices shifts from the owning institution to the federal government, freeing UConn and UCH from that responsibility and any associated costs.

    At Storrs, the removal was facilitated by UConn’s Office of Vice President for Research (OVPR). Jeremy Blasbaugh, director of UConn’s Center of Open Research Resources (COR²E), will oversee the installation and the new X-ray irradiator at that site and its future use by researchers.

    “As the radiation safety officer, I’m excited that researchers will be able to use the replacement X-ray irradiator,” says Courchesne. “We can share about it and promote collaboration. We don’t have the liability and regulatory restrictions around the device anymore.”

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Northumbrian manufacturer wins data-centre work with UKEF backing

    Source: United Kingdom – Executive Government & Departments

    Salem Tube is moving into the rapidly-growing sector thanks in part to support from the government’s export credit agency.

    • Based in Prudhoe, County Durham, Salem Tube has traded for over 30 years and makes industrial tubing.

    • It has traditionally served the energy sector but is taking on more and more orders from developers of data-centres.

    • Data-centres have high energy requirements and cannot function without cooling equipment provided by Salem Tube.

    A manufacturer from Northumberland is taking on new business with data-centre developers after securing the support of UK Export Finance (UKEF) and Santander UK.

    Salem Tube has traded since 1992 and supplies tubes for heat-transfer and heat-exchange – something essential to industrial cooling systems. It exports to over 40 countries a year, typically in the energy sector.

    As the market for AI and cloud data storage grows rapidly, Salem has been taking on more and more contracts in this area.

    Salem has now agreed a financing package worth £3.5 million which is provided by Santander UK and backed by the government through UKEF. This gives the business the capital which it needs to take on larger data-centre contracts and establish itself as a supplier to this emerging sector.

    UKEF offers its General Export Facility (GEF) scheme through all the major UK banks and a range of non-bank lenders. This allows exporters to access working capital facilities up to around £25 million.

    Pat Kendell, Senior Export Finance Manager (North East England), UKEF:

    Salem Tube is a perfect example of how businesses in the north are adapting and thriving in emerging sectors. This deal shows how government backing can help established manufacturers to seize new opportunities in the industries of the future. By supporting Salem Tube’s move into the data-centre market, UKEF is helping to safeguard jobs and boost exports in the North-East.

    Mark Ling, Head of Trade & Supplier Finance, Santander UK:

    We are delighted to provide further support for Salem Tube’s growth. Our partnership and collaboration with both Salem Tube and UKEF demonstrates our commitment to the international growth of businesses in the UK.

    This also helps Salem to complete its rebound from COVID-19 and grow larger than ever. It secured a range of overseas contracts in the USA and Middle East last year and is now considering taking on more employees.

    This is the latest phase of Salem’s partnership with UKEF, which has supported the business for over 5 years and previously helped it win new contracts in Africa.

    Contact

    Media enquiries:

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: With No Competing Offers, Beacon Roofing’s Board Stalls and Misleads

    Source: GlobeNewswire (MIL-OSI)

    Beacon Insiders Recently Sold Shares Well Below Offer Price, Undermining Beacon’s Case Against QXO
    QXO Calls on Beacon Roofing to Let Shareholders Decide on QXO’s $124.25 All-Cash Offer

    GREENWICH, Conn., Feb. 10, 2025 (GLOBE NEWSWIRE) —  QXO, Inc. (NYSE: QXO) today released a letter to Beacon Roofing Supply, Inc. shareholders regarding its $124.25 per share all-cash offer, addressing misrepresentations in Beacon’s recent 14D-9 filing.

    Dear Beacon Shareholders,

    We seek to set the record straight on some of the numerous misleading statements in Beacon’s recent communications.

    1.   QXO’s Offer to Acquire Beacon Roofing Supply is Highly Compelling and at a Significant Premium to Beacon’s Unaffected Share Price

    In evaluating QXO’s offer, Beacon conveniently ignores that its share price reflects our acquisition interest following the Wall Street Journal’s November 18, 2024 report. That day, Beacon’s stock rose 9.9%, compared to a 0.4% increase in the S&P 500. Yet, Beacon compares QXO’s offer to share price metrics as of January 14, 2025—a misleading approach that distorts expectations of Beacon’s standalone value.

    A more appropriate analysis shows that QXO’s offer represents:

    • A 37% premium to Beacon’s 90-day unaffected VWAP of $91.02 per share as of November 15, 2024;
    • A 26% premium to Beacon’s unaffected spot price of $98.75 per share as of November 15, 2024; and
    • A higher price than Beacon’s stock has ever traded.

    Indeed, Beacon acknowledges that November 15, 2024 is a significant date, referencing stock performance “from January 2, 2020 to November 15, 2024 (the last trading day before rumors surfaced).”

    Moreover, since November 15, 2024, Beacon’s Building Products Proxy Peers have lost 10.5% in value1, making QXO’s offer even more compelling:

    • A 41% premium to an implied spot share price of $88.42; and
    • A 52% premium to the peer-adjusted 90-day VWAP of $81.502.    

    2.   Data Indicates that Beacon Will Miss its Margin Targets. The Board’s Claim of Strong Performance is Flawed

    Beacon’s Board touts cherry-picked historical performance, painting a misleading picture of its track record. Consensus analysts’ estimates indicate that Beacon will miss all margin targets under its “Ambition 2025” plan. Further, Beacon’s revenue growth largely stems from extraordinary inflation and inorganic growth between 2022 and 2024. From 2019 through LTM September 2024, Beacon’s 7.7% revenue CAGR is the lowest of its peer group and well below the peer median of 12.1%3.

    Despite setting unambitious “Ambition 2025” targets, consensus analysts’ estimates indicate that Beacon will:

    • Miss its 2025 Gross Margin target by 130 basis points;
    • Miss its 2025 EBITDA Margin target by 114 basis points; and
    • Deliver EBITDA margins 20bps lower in 2025 than when the “Ambition 2025” plan was introduced4.

    Furthermore, Beacon’s claims of superior stock performance are easily debunked. Over the past five years, Beacon’s total shareholder return has trailed its Building Products Proxy Peers by 86% and trailed those peers by 140% since CEO Julian Francis took over as CEO in August 20195.

    3.   QXO’s Offer Represents a 3.0x Premium to Beacon’s Historical Multiple

    Beacon’s lackluster operational performance and relative share price underperformance are reflected in its enterprise value to next-twelve-months EBITDA multiple, which has remained rangebound at an average of 8.1x over the past three years. Meanwhile, its valuation gap relative to its Building Products Proxy Peers widened by 1.3x6 over the same period.

    Since Beacon has not closed the valuation multiple gap despite implementing “Ambition 2025,” reporting supposedly strong results and stock markets nearing all-time highs, we urge shareholders to decide if the current management and Board are the right team to create value for shareholders. QXO’s proposal provides a 3.0x premium to Beacon’s average historical next-twelve-months EBITDA multiple7, providing substantial immediate cash-certain value to shareholders.

    4.   If Beacon is Truly Confident in its Future, it Should Release its Projections Today

    Beacon’s upcoming financial projections for its March Investor Day warrant skepticism. Management itself acknowledged in its filings that its upcoming 2028 targets are “ambitious,” implying they may not be realistic. Beacon has already fallen short of some “Ambition 2025” goals. Adding to the skepticism, its decision to announce the Investor Day came only days after QXO disclosed its plan to go directly to shareholders.

    Further, these newly constructed projections will not be revealed for another month—more than three months after Beacon’s Board first rejected QXO‘s offer. Why the delay? What is Beacon formulating in the interim? If the company had strong, credible projections, there would be no reason for such a drawn-out disclosure process.

    5.   Actions Speak Louder than Words: Beacon Insiders Recently Sold Shares at Prices Far Below QXO’s Offer

    Since early 2024, Beacon’s Chairman and CEO have sold a significant percentage of their shares at prices well below QXO’s $124.25 per share offer:

    • Chairman Stuart Randle sold 20.9% of his shares at $94.808;
    • CEO Julian Francis sold 9.8% of his shares at $97.919;
    • CD&R, arguably the most sophisticated financial sponsor in the distribution space, exited its position in Beacon at $83.16 per share.

    If Beacon’s future is so bright under current management, why are insiders selling shares sharply below QXO’s offer price?

    Additionally, Beacon’s Board and management collectively own only 1.3% of outstanding10 shares, signaling a lack of alignment with shareholder interests and demonstrating their lack of confidence in Beacon’s standalone prospects.

    6.   Beacon’s Own Filings Suggest that No Actionable Competing Offer Exists

    Beacon’s recent filings indicate no viable third-party alternative to QXO’s premium offer. Beacon’s 14D-9 filing has not disclosed any competing offers, or even a single NDA being signed.

    Interestingly, on December 2, 2024, representatives of J.P. Morgan explicitly informed representatives of Morgan Stanley that they had been authorized to approach other potential suitors for Beacon. QXO’s letter to Beacon sent on the following day stated this clearly, yet Beacon made no effort to dispute this until two months later, on February 6, 2025.

    QXO’s offer is clear, compelling and in shareholders’ best interest. It is time for Beacon’s Board to stop obstructing shareholders and let them decide their own financial future.

    QXO’s tender offer for all of Beacon’s outstanding common stock will be effective until 12:00 midnight (New York City time) at the end of February 24, 2025, and QXO is prepared to complete the acquisition shortly after the tender expires, subject to the terms of the offer. The transaction is not subject to any financing conditions or due diligence conditions, and QXO expects that the waiting periods under the Hart-Scott-Rodino Act and the Canadian Competition Act will have expired or been waived by the time the tender offer expires.

    Advisors

    Morgan Stanley & Co. LLC is acting as lead financial advisor to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.

    About QXO

    QXO provides technology solutions, primarily to clients in the manufacturing, distribution and service sectors. The company provides consulting and professional services, including specialized programming, training and technical support, and develops proprietary software. As a value-added reseller of business application software, QXO offers solutions for accounting, financial reporting, enterprise resource planning, warehouse management systems, customer relationship management, business intelligence and other applications. QXO plans to become a tech-forward leader in the $800 billion building products distribution industry. The company is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

    Forward-Looking Statements

    This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets, goals, regulatory approval timing and nominating directors are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Such factors include but are not limited to: the ultimate outcome of any possible transaction between QXO, Inc. (“QXO”) and Beacon Roofing Supply, Inc. (“Beacon”), including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any definitive agreement will be materially different from those proposed; uncertainties as to whether Beacon will cooperate with QXO regarding the proposed transaction; the ultimate result should QXO commence a proxy contest for election of directors to Beacon’s board of directors; QXO’s ability to consummate the proposed transaction with Beacon; the conditions to the completion of the proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals; QXO’s ability to finance the proposed transaction; the substantial indebtedness QXO expects to incur in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; QXO’s ability to retain certain key employees; and general economic conditions that are less favorable than expected. QXO cautions that forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not assume any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.

    Important Additional Information and Where to Find It

    This communication is for informational purposes only and does not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell Beacon securities. QXO and Queen MergerCo, Inc. (the “Purchaser”) filed a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission (the “SEC”) on January 27, 2025, and Beacon filed a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer with the SEC on February 6, 2025. Investors and security holders are urged to carefully read the Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as each may be amended or supplemented from time to time) and the Solicitation/Recommendation Statement, as these materials contain important information that investors and security holders should consider before making any decision regarding tendering their common stock, including the terms and conditions of the tender offer. The Tender Offer Statement, Offer to Purchase, Solicitation/Recommendation Statement and related materials are filed with the SEC, and investors and security holders may obtain a free copy of these materials and other documents filed by QXO and Beacon with the SEC at the website maintained by the SEC at www.sec.gov. In addition, the Tender Offer Statement and other documents that QXO and the Purchaser file with the SEC will be made available to all investors and security holders of Beacon free of charge from the information agent for the tender offer: Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New York, NY 10022, toll-free telephone: +1 (888) 750-5834.

    QXO and the other participants intend to file a preliminary proxy statement and accompanying WHITE universal proxy card with the SEC to be used to solicit proxies for, among other matters, the election of its slate of director nominees at the 2025 annual meeting of stockholders of Beacon. QXO strongly advises all stockholders of Beacon to read the preliminary proxy statement, any amendments or supplements to such proxy statement, and other proxy materials filed by QXO with the SEC as they become available because they will contain important information. Such proxy materials will be available at no charge on the SEC’s website at www.sec.gov and at QXO’s website at investors.qxo.com. In addition, the participants in this proxy solicitation will provide copies of the proxy statement, and other relevant documents, without charge, when available, upon request. Requests for copies should be directed to the participants’ proxy solicitor.

    Certain Information Concerning the Participants

    The participants in the proxy solicitation are anticipated to be QXO, Brad Jacobs, Ihsan Essaid, Matt Fassler, Mark Manduca and the individuals nominated by QXO (the “QXO Nominees”). QXO expects to determine and announce the QXO Nominees prior to the nomination deadline for the 2025 annual meeting of stockholders of Beacon. As of the date of this communication, other than 100 shares of common stock of Beacon beneficially owned by QXO, none of the participants who have been identified has any direct or indirect interest, by security holdings or otherwise, in Beacon.

    Media Contacts
    Joe Checkler
    joe.checkler@qxo.com
    203-609-9650

    Steve Lipin / Lauren Odell
    Gladstone Place Partners
    212-230-5930

    Investor Contacts
    Mark Manduca
    mark.manduca@qxo.com
    203-321-3889

    Scott Winter / Jonathan Salzberger
    Innisfree M&A Incorporated
    212-750-5833

    1 Market data as of February 7, 2025. Average of building products subset of the peer list presented in Beacon’s April 2024 Proxy Statement; includes: Builders FirstSource, Boise Cascade, GMS, Pool Corp, SiteOne, WATSCO, Wesco (“Building Products Proxy Peers”)
    2 Based on Beacon’s unaffected share price as of November 15, 2024 and the average share price performance since November 15, 2024 for the Building Products Proxy Peers
    3 Reported revenues for Beacon and Building Products Proxy Peers
    4 Based on median 2025E Wall Street research estimates, sourced from Capital IQ as of February 7, 2025
    5 Market data as of November 15, 2024. Total shareholder return reflects stock price performance adjusted for cash dividends paid, stock splits, rights offerings and spin-offs during the period
    6 As per Capital IQ as of November 15, 2024
    7 As of November 15, 2024; next-twelve-months EBITDA calculated using calendarized annual broker EBITDA estimates for Beacon
    8 As per Mr. Randle’s Form 4 filed with the SEC on May 28, 2024. According to Mr. Randle’s Form 4, this sale was not made pursuant to a Rule 10b5-1 plan or to pay any exercise price or tax liability incident to the receipt, exercise or vesting of equity awards.
    9 As per Mr. Francis’s Form 4 filed with the SEC on May 22, 2024. According to Mr. Francis’s Form 4, this sale was not made pursuant to a Rule 10b5-1 plan or to pay any exercise price or tax liability incident to the receipt, exercise or vesting of equity awards.
    10 As per Schedule 14D-9 filed with the SEC on February 6, 2025

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5854092c-16b2-41c5-918c-3c0e68bd5705

    The MIL Network –

  • MIL-OSI: Up to 70% Time Savings Achieved with Fully Integrated Advanced Referral Module of CareCloud’s AI-Enabled EHR

    Source: GlobeNewswire (MIL-OSI)

    Streamlining the Referral Process to Enhance Efficiency and Patient Experience

    SOMERSET, N.J., Feb. 10, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and AI-driven solutions, is proud to announce the launch of its new advanced referral module. This innovative solution is designed to simplify the referral process for medical providers and enhance the patient experience through advanced automation and location-based guidance. By optimizing referrals to specialists, the module reduces administrative time and effort, enabling a more streamlined, patient-focused approach. With its automated workflow, healthcare providers can save up to 70% of the time typically spent on generating and managing referrals, allowing them to prioritize patient care.

    92% of surveyed users rated the CareCloud’s advanced referral module as “exceptional”, praising its ease of use, efficiency, and ability to enhance patient satisfaction with one user explaining, “CareCloud’s advanced referral module has transformed how we handle patient referrals in our practice.” Asad Ullah of Mir Neurology & Spine Center continued, “Completing the referral process in real-time during patient visits ensures a seamless experience and faster access to specialty care. With the intuitive interface and location-based specialist recommendations, I can provide personalized options for my patients instantly. What’s even more valuable is that patients no longer have to call back or visit our office to complete or collect their referral forms. This not only improves efficiency but also enhances patient satisfaction by making the referral process more convenient and hassle-free.”

    The key features of CareCloud’s advanced referral module:

    1. Real-Time Referral Completion
      • Medical providers can complete referral forms while the patient is still in the office, ensuring accuracy and efficiency during the visit.
    2. Specialist Recommendations with Location Guidance
      • Integrated maps and location-based tools help doctors recommend specialists near the patient’s home or workplace, ensuring convenience and accessibility.
    3. Secure Patient Notifications
      • Patients receive text messages with a curated list of specialists, including secure links to detailed information such as the specialist’s name, contact details, and more.
    4. Seamless Appointment Booking
      • Patients can contact their chosen specialist and book appointments directly through secure links. Once confirmed, the system automatically forwards the referral form to the specialist.
    5. Patient Access to Referral Documentation
      • Patients can securely download, print, or access their referral forms through their Personal Health Record (PHR), ensuring ease of use and transparency.

    “With 92% of surveyed users rating it as exceptional and the ability to save up to 70% of referral processing time, the Advanced Referral Module is transforming care coordination,” said Hadi Chaudhry, Co-CEO of CareCloud. “By automating workflows and providing real-time specialist recommendations, it enhances efficiency for providers and accessibility for patients, improving the overall healthcare experience. This launch reinforces CareCloud’s commitment to reducing administrative burdens and driving innovation in healthcare technology.”

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:

    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:

    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com 

    The MIL Network –

  • MIL-OSI: Beamr CEO will Present a Keynote Speech at the ACM Mile-High-Video 2025

    Source: GlobeNewswire (MIL-OSI)

    The Keynote Titled ״Is the future of video processing destined for GPU?״ Describes First Hand The Evolution of Video Encoding in the Past Decades

    Herzliya Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Beamr Imaging Ltd. (NASDAQ: BMR), a leader in video optimization technology and solutions, today announced that Beamr CEO, Sharon Carmel, will present a keynote speech titled ״Is the future of video processing destined for GPU?״ at the ACM Mile-High-Video 2025 conference, being held in Denver, Colorado from February 18-20, 2025. The keynote speech will be held on February 18, 2025 at 11:15 AM MST (1:15 PM EST).

    To meet with the Beamr video experts team at the ACM Mile-High-Video 2025 conference, please use this link.

    “Video compression processes have evolved in the last decades, to meet the growing demands for higher image quality, increased resolutions, and diverse viewing devices – from 8K screens to smartphones, while overcoming networking challenges”, said Carmel. He added: “Today, GPU-accelerated solutions, like those delivered by Beamr, emerge as the leading approach, enabling fast, highly efficient video processing, while enhancing the video with AI capabilities during the same workflow”.

    Carmel has 30 years of experience in the video and media industry, starting as the co-founder of Emblaze, which developed the first video chips for Samsung Mobile. The company went public in 1996 on the London Stock Exchange, and in 2000 reached a peak market cap of ~$7B. In 2002, Carmel founded his second start-up, BeInSync, which developed P2P synchronization and online backup technologies, and was acquired in 2008 by Phoenix Technologies.

    The ACM Mile-High-Video conference is a flagship video formats and streaming event that is geared towards practicing engineers in areas related to media compression and streaming. This event, held annually in Denver, is organized by engineers and researchers from both industry and academia.

    To meet with the Beamr video experts team at the ACM Mile-High-Video 2025 conference, please use this link.

    About Beamr

    Beamr (Nasdaq: BMR) is a world leader in content-adaptive video optimization and modernization. The company serves top media companies like Netflix and Paramount. Beamr’s inventive perceptual optimization technology (CABR) is backed by 53 patents and won the Emmy® award for Technology and Engineering. The innovative technology reduces video file size by up to 50% while guaranteeing quality.

    Beamr Cloud is a high-performance, GPU-based video optimization and modernization service designed for businesses and video professionals across diverse industries. It is conveniently available to Amazon Web Services (AWS) and Oracle Cloud Infrastructure (OCI) customers. Beamr Cloud enables video modernization to advanced formats such as AV1 and HEVC, and is ready for video AI workflows. For more details, please visit www.beamr.com

    Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements in this communication may include, among other things, statements about Beamr’s strategic and business plans, technology, relationships, objectives and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report filed with the SEC on March 4, 2024 and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of the date hereof and the Company undertakes no duty to update such information except as required under applicable law.

    Investor Contact:

    investorrelations@beamr.com

    The MIL Network –

  • MIL-OSI: Matador Technologies Partners with BitGo to Securely Store Bitcoin Holdings

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA) announces that it has selected BitGo Trust Company (“BitGo”) to securely manage and store its Bitcoin holdings.

    Matador has integrated Bitcoin as a foundational asset for its treasury and as the platform for its upcoming digital gold product. BitGo, known for its secure and compliant custody solutions, will provide institutional-grade custody services using its security infrastructure.

    “We are pleased to partner with BitGo as our trusted custodian for Bitcoin,” said Deven Soni, CEO and Chairman at Matador. “As we expand our engagement with digital assets, having a secure custodian like BitGo supports our security and compliance priorities.”

    BitGo offers a full suite of custody solutions, including multi-signature wallets and 100% cold storage technology, providing protection against theft, loss, or unauthorized access. Additionally, its insurance policy provides an added layer of security, aligning with Matador’s standards for asset management.

    “At BitGo, we are focused on providing secure custody for institutional clients,” said Mike Belshe, CEO of BitGo. “We look forward to supporting Matador’s Bitcoin custody needs with our security infrastructure.”

    For additional information, please contact:

    Media Contact:
    Sunny Ray
    President
    Email: sunny@matador.network

    Phone: 647-932-2668

    About Matador Technologies Inc.
    Matador Technologies Inc. is a digital gold platform leveraging blockchain technology to digitize real-world assets like gold. Focused on building innovative financial solutions, Matador is at the forefront of integrating blockchain technology to preserve and grow value. Matador’s digital gold platform aims to democratize the gold buying experience, combining the best of modern technology and time-proven assets, to create an app that will allow users to buy, sell, and store gold 24/7 in a fun and engaging way.

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    The MIL Network –

  • MIL-OSI: Churchill Resources Confirms Ni-Co Potential of Large Tonnage Seahorse Lake Intrusive at Florence Lake

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to provide an update on its 2024 fieldwork results at the Florence Lake nickel project located in Labrador. Highlights include:

    Seahorse Lake Intrusive

    • CRI 2024 sampling confirms Ni-Co potential and ~7.5km strike length to the variably exposed Seahorse Intrusion with consistent historical surface grab samples grading 0.2-0.4% nickel and Company 2024 results confirm historical and new exposures with grades or 0.2-0.32% Ni and 100-756ppm Cobalt. The high cobalt value is much improved over the best historical result of 361ppm Co.
    • 13 of 27 CRI samples at Seahorse returned high-interest aluminum undepleted komatiite geochemical signatures, suggesting more primitive, potentially Ni-enriched units may also be present in the volcanic assemblage. This is a very encouraging early sign for Seahorse.
    • The lone short historical drillhole, TSH96-04, into the eastern margin of the intrusive, also returned nickel values in the 0.2-0.3% range with 0.01%Co from selected short samples between 30-100m downhole. The entire core is available for sampling to the end of hole at 102m.

    Baikie Belt

    • The northern licenses’ Baikie Sub-belt high-grade targets have been sampled with prioritization based on prospective komatiite geochemistry/VTEM conductors/high nickel-in-soil sampling highlighting numerous areas for detailed follow-up.

    Paul Sobie, CEO, commented:

    “Our 2024 fieldwork has confirmed that the Seahorse Lake Ultramafic Intrusive spans some 7.5km x 1km as suggested by its magnetic signature, and found it to outcrop over several impressively large areas. Historical grab sampling by Falconbridge returned pervasive surface nickel assays in the 0.2 to 0.4%Ni range, consistent with similar ultramafic intrusions being evaluated in Ontario, Quebec, BC, and Alaska.  

    Our 2024 sampling confirmed Seahorse’s Ni-Co potential per Table 1 and Figure 1, including a grab sample grading 756ppm Co (0.076%). We plan to cut long channel samples through these large outcrop exposures during fieldwork in 2025 to define nickel content over significant strike lengths and widths, as an important part of our first full “boots on the ground” season based out of the Florence Lake camp.

    On our northern licenses covering the high-grade target Baikie Sub-belt ~5km northwest of Seahorse, we’ve now sampled most of the 43 priority targets identified from VTEM survey and follow-up soil sampling, allowing for prioritization for detailed prospecting, geology and geophysical surveys this summer.

    Florence Lake lies ~70km west of the deep-water port of Postville, an all-weather road proposed along the Labrador coast would pass within 15km, and nearby waterfalls offer hydro-electric power potential, all greatly enhancing project economics.”

    Figure 1 – Seahorse Lake Total Magnetic Intensity with 2024 and Falconbridge Surface Sampling

    Figure 2 – Outcropping serpentinized peridotite southern Seahorse Lake Intrusion (note helicopter in distance for scale)

    Figure 3 – Outcropping serpentinized peridotite central Seahorse Lake Intrusion

    Table 1 – 2024 Lithogeochemical Sample Selected Analytical Results

    Baikie Belt High-Grade Targets

    The Baikie-Sub-belt volcanic package is highly encouraging for nickel discoveries throughout the volcanic stratigraphy, rather than just the Baikie Showing horizon, the primary target of Falconbridge, where a small deposit was delineated. CRI is continuing to sample the ultramafic lavas in the area of priority targets, following the recognition of numerous Al2O3-undepleted ultramafic volcanic areas (i.e., more primitive lavas, associated with nickel mineralization), as stacked targets located throughout the upper Eastern Volcanic areas of the greenstone belt, and importantly also within the more basal Western Volcanics. Kambalda-style nickel sulphide deposits occur primarily in the basal portions of ultramafic volcanic sequences.

    Figure 4 following shows the location of 2024 lithogeochemical samples detailed in Table 1, as well as the location of all other CRI surface samples collected since 2021. As well Dr. Derek Wilton has sampled numerous historical drill holes, and NL Government Geological Survey geologists have sampled the rest of the historical drillholes, which data will be available in the near-term to further our compilations of geochemical data and follow-up plans. CRI is in close contact with the Geological Survey team, who are actively assessing the Baikie and Seahorse Lake areas through mapping, lithogeochemistry and age-dating of surface and core samples and who completed their first field season in the Florence Lake area in 2024. The Geological Survey is planning to be active again this summer on our property and the collaboration will be extremely helpful to Churchill.

    2024 soil sampling was modest in sample numbers and targeted to assess VTEM conductors lower in the stratigraphy in the Western Volcanics per Figure 5. Moderate nickel anomalies were generated in several areas for follow-up this summer.

    The technical and scientific information in this news release has been reviewed and approved by Dr. Derek H.C Wilton, P.Geo., FGC, who is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Wilton is an honourary research professor of Economic Geology at Memorial University and is independent of the Company for the purposes of NI 43-101.

    The lithogeochemical samples reported here were whole rock pieces, collected from outcrop and historical drill core by Dr. Wilton during fieldwork in September/October 2024. These samples were sealed in labelled plastic bags in the field. All sample bags were photographed and transported to Thunder Bay, ON, by secure courier. The samples were analysed by ALS Geochemistry Ltd. in Thunder Bay using ME-ICP06 whole rock and ME-MS61L analytical protocols. Samples with over limit Ni contents were re-assayed using OG-46 Aqua-Regia overlimit method. Quality control results, including the laboratory’s own control samples, were evaluated immediately.1

    The soil samples were placed in labelled, sealed kraft paper bags and delivered to Eastern Analytical of Springdale, NL, an ISO/IEC 17025 certified facility. The samples were analysed using ICP 34 (inductively coupled plasma) analytical protocols. Samples with over limit Ni contents were re-assayed using Eastern’s Ore Grade Assay (multi acid digestion) overlimit method. Quality control results, including the laboratory’s control samples, were evaluated immediately.

    Figure 4 – CRI Lithogeochemical Samples 2021-2024 in Baikie Sub-belt

    Figure 5 – CRI Soil Samples 2022-2024 in Baikie Sub-belt on detailed CRI magnetics

    About Churchill Resources Inc.

    Churchill Resources Inc. is a Canadian exploration company focused on high grade, magmatic nickel sulphides in Canada, principally at its prospective Taylor Brook and Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board and its advisors have decades of combined management experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill’s Taylor Brook and Florence Lake projects have the potential to benefit from the province’s large and diversified minerals industry, which includes world class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise.

    Further Information

    For further information regarding Churchill, please contact:

    Churchill Resources Inc.
    Paul Sobie, Chief Executive Officer
    Tel.   +1 416.365.0930 (o)
        +1 647.988.0930 (m)
    Email   psobie@churchillresources.com
         
    Alec Rowlands, Corporate Consultant
    Tel.   +1 416.721.4732 (m)
    Email   arowlands@churchillresources.com
         

    Cautionary Note Regarding Forward Looking Information

    This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

    These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

    Neither the 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 news release.

    1 The Company reminds investors that surface rock samples are select samples and may not be representative of all mineralization on the Florence Lake property.

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a4a7348e-6b56-4bb1-8fed-cb6009e554be

    https://www.globenewswire.com/NewsRoom/AttachmentNg/63543e74-a8d5-455e-a5b4-539e2bc771fd

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1640a47f-264a-4f11-962f-d3cb179b030c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/584d7791-09ee-45bc-ab69-c6a7e7332132

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d275b392-66dd-4a1a-937a-2488d04f4555

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4ad8cf7b-9b04-44ed-871c-34ec8a2d094b

    The MIL Network –

  • MIL-OSI: Tower Semiconductor Reports 2024 Fourth Quarter and Full Year Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MIGDAL HAEMEK, Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the fourth quarter of 2024 and for the year ended December 31, 2024.

    Fourth Quarter of 2024 Results Overview
    Revenues for the fourth quarter of 2024 were $387 million as compared to $371 million for the third quarter of 2024 and $352 million for the fourth quarter of 2023, representing 5% quarter over quarter growth and 10% year over year growth. The Company met its expressed target of sequential quarter over quarter revenue growth within 2024, resulting in 18% growth fourth quarter over first quarter.

    Gross profit for the fourth quarter of 2024 was $87 million, compared to $84 million for the fourth quarter of 2023. During the fourth quarter of 2024, the Company took on for the first time its portion of incremental costs of the greenfield Agrate facility.

    Operating profit for the fourth quarter of 2024 was $46 million as compared to $45 million for the fourth quarter of 2023.

    Net profit for the fourth quarter of 2024 was $55 million, reflecting $0.49 basic and diluted earnings per share. Net profit for the fourth quarter of 2023 was $54 million, or $0.49 basic and $0.48 diluted earnings per share.

    Cash flow generated from operating activities in the fourth quarter of 2024 was $101 million and investments in property and equipment, net were $93 million.

    Full year 2024 Results Overview
    Revenues for the full year of 2024 were $1.44 billion, gross profit was $339 million, operating profit was $191 million. Net profit for the full year of 2024 was $208 million, or $1.87 basic and $1.85 diluted earnings per share. For the full year of 2023, revenues were $1.42 billion, gross profit was $354 million, operating profit was $547 million and included $314 million, net, from the Intel merger contract termination and $33 million of restructuring income, net, from the previously disclosed reorganization and restructure of our Japan operations during 2022. Net profit for the full year of 2023 was $518 million, or $4.70 basic and $4.66 diluted earnings per share and included $290 million, net, due to the merger contract termination payment by Intel and $11 million restructuring income, net.

    Cash flow generated from operating activities for the year ended December 31, 2024, was $449 million. Investments in property and equipment, net for the year ended December 31, 2024, were $432 million and debt payments, net totaled $32 million.

    6” Fab Consolidation Update
    During the fourth quarter of 2024, the lower margin legacy of 150mm flows were discontinued in Fab1, with last Fab outs occurring in January 2025. The forward-looking strategic flows have been transferred into the Fab2 200mm factory. This strategic integration enables the Company to streamline its production processes, enhancing overall efficiency.

    Business Outlook
    Tower Semiconductor guides revenues for the first quarter of 2025 to be $358 million, with an upward or downward range of 5%. First quarter mid-range guidance reflects about 10% year-over-year growth.

    Russell Ellwanger, Chief Executive Officer of Tower Semiconductor, stated:
    “With the close of 2024, we are pleased with our progress, in having brought to market highly differentiated end application advancing platforms, hence strengthening our position for sustainable growth. Our 2025 revenue target is year-over-year growth, with sequential quarter-over-quarter revenue growth, and an acceleration in the second half of the year. This momentum is fueled by increasing production shipments as our previously announced capacity investments progress through the final stages of customer qualifications.”

    Ellwanger further added: “Our commitment to customer partnered innovation and streamlined execution continues to drive our ability to meet the growing and evolving needs of our customers in a quickly changing business environment, whilst expanding our available market size and share. We look forward to the year ahead with confidence and enthusiasm.”

    Teleconference and Webcast
    Tower Semiconductor will host an investor conference call today, Monday, February 10, 2025, at 10:00 a.m. Eastern time (9:00 a.m. Central time, 8:00 a.m. Mountain time, 7:00 a.m. Pacific time and 5:00 p.m. Israel time) to discuss the Company’s financial results for the fourth quarter and full year of 2024 and its business outlook.

    The call will be webcast and available through the Investor Relations section of Tower Semiconductor’s website at ir.towersemi.com. The pre-registration form required for dial-in participation is accessible here. Upon completing the registration, participants will receive the dial-in details, a unique PIN, and a confirmation email with all necessary information. To access the webcast, click here. The teleconference will be available for replay for 90 days.

    Non-GAAP Financial Measures
    The Company presents its financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial information included in the tables below includes unaudited condensed financial data. Some of the financial information, which may be used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, which we may describe as adjusted financial measures and/or reconciled financial measures, are non-GAAP financial measures as defined in Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the “SEC”) as they apply to our Company. These adjusted financial measures are calculated excluding the following: (i) amortization of acquired intangible assets as included in our costs and expenses, (ii) compensation expenses in respect of equity grants to directors, officers, and employees as included in our costs and expenses, (iii) merger contract termination fees received from Intel, net of associated cost and taxes following the previously announced Intel contract termination as included in net profit in 2023 and (iv) restructuring income, net, which includes income, net of cost and taxes associated with the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, which occurred during 2022, as included in net profit. These adjusted financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the adjusted financial measures used and/or presented in this release, as well as a reconciliation between the adjusted financial measures and the comparable GAAP financial measures. As used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, as well as may be included and calculated in the tables herein, the term Earnings Before Interest Taxes, Depreciation and Amortization which we define as EBITDA consists of operating profit in accordance with GAAP, excluding (i) depreciation expenses, which include depreciation recorded in cost of revenues and in operating cost and expenses lines (e.g., research and development related equipment and/or fixed other assets depreciation), (ii) stock-based compensation expense, (iii) amortization of acquired intangible assets, (iv) merger contract termination fees received from Intel, net of associated cost following the previously announced Intel contract termination, as included in operating profit and (v) restructuring income, net in relation to the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, as included in operating profit. EBITDA is reconciled in the tables below and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company from GAAP operating profit. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, are not a required GAAP financial measure and may not be comparable to a similarly titled measure employed by other companies. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Net Cash, as may be used and/or presented in this release and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is comprised of cash, cash equivalents, short-term deposits, and marketable securities less debt amounts as presented in the balance sheets included herein. The term Net Cash is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for cash, debt, operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Free Cash Flow, as used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is calculated to be net cash provided by operating activities (in the amounts of $101 million, $125 million and $126 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $449 million and $677 million for the years ended December 31, 2024 and December 31, 2023, respectively (less cash used for investments in property and equipment, net (in the amounts of $93 million, $128 million and $136 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $432 million and $432 million for the years ended December 31, 2024 and December 31, 2023, respectively). The term Free Cash Flow is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing, and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP.

    About Tower Semiconductor
    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    CONTACT:
    Liat Avraham | Investor Relations | +972-4-6506154 | liatavra@towersemi.com

    Forward-Looking Statements
    This release, as well as other statements and reports filed, stated and published in relation to this quarter’s results, includes certain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, projections and statements with respect to our future business, financial performance and activities. The use of words such as “projects”, “expects”, “may”, “targets”, “plans”, “intends”, “committed to”, “tracking”, or words of similar import, identifies a statement as “forward-looking.” Actual results may vary from those projected or implied by such forward-looking statements and you should not place any undue reliance on such forward-looking statements, which describe information known to us only as of the date of this release. Factors that could cause actual results to differ materially from those projected or implied by such forward-looking statements include, without limitation, risks and uncertainties associated with: (i) demand in our customers’ end markets, (ii) reliance on acquisitions and/or gaining additional capacity for growth, (iii) difficulties in achieving acceptable operational metrics and indices in the future as a result of operational, technological or process-related problems, (iv) identifying and negotiating with third-party buyers for the sale of any excess and/or unused equipment, inventory and/or other assets, (v) maintaining current key customers and attracting new key customers, (vi) over demand for our foundry services resulting in high utilization and its effect on cycle time, yield and on schedule delivery, as well as customers potentially being placed on allocation, which may cause customers to transfer their business to other vendors, (vii) financial results that may fluctuate from quarter to quarter, making it difficult to forecast future performance, (viii) our debt and other liabilities that may impact our financial position and operations, (ix) our ability to successfully execute acquisitions, integrate them into our business, utilize our expanded capacity and find new business, (x) fluctuations in cash flow, (xi) our ability to satisfy the covenants stipulated in our agreements with our debt holders, (xii) pending litigation, (xiii) meeting the conditions set in approval certificates and other regulations under which we received grants and/or royalties and/or any type of funding from the Israeli, US and/or Japan governmental agencies, (xiv) receipt of orders that are lower than the customer purchase commitments and/or failure to receive customer orders currently expected, (xv) possible incurrence of additional indebtedness, (xvi) the effects of global recession, unfavorable economic conditions and/or credit crisis, (xvii) our ability to accurately forecast financial performance, which is affected by limited order backlog and lengthy sales cycles, (xviii) possible situations of obsolete inventory if forecasted demand exceeds actual demand when we create inventory before receipt of customer orders, (xix) the cyclical nature of the semiconductor industry and the resulting periodic overcapacity, fluctuations in operating results and future average selling price erosion, (xx) financing capacity acquisition related transactions, strategic and/or other growth or M&A opportunities, including funding Agrate fab’s significant 300mm capacity investments and acquisition or funding of equipment and other fixed assets associated with the capacity corridor transaction with Intel as announced in September 2023, in addition to other capacity and capability expansion plans, and the possible unavailability of such financing and/or the availability of such financing on unfavorable terms, (xxi) operating our facilities at sufficient utilization rates necessary to generate and maintain positive and sustainable gross, operating and net profit, (xxii) the purchase of equipment and/or raw material (including purchases beyond our needs), the timely completion of the equipment installation, technology transfer and raising the funds therefor, (xxiii) product returns and defective products, (xxiv) our ability to maintain and develop our technology processes and services to keep pace with new technology, including artificial intelligence, evolving standards, changing customer and end-user requirements, new product introductions and short product life cycles, (xxv) competing effectively, (xxvi) the use of outsourced foundry services by both fabless semiconductor companies and integrated device manufacturers, (xxvii) our dependence on intellectual property rights of others, our ability to operate our business without infringing others’ intellectual property rights and our ability to enforce our intellectual property against infringement, (xxviii) the Fab 3 landlord’s alleged claims that the noise abatement efforts made thus far are not adequate under the terms of the amended lease that caused him to request a judicial declaration that there was a material non-curable breach of the lease and that he would be entitled to terminate the lease, as well the ability to extend such lease or acquire the real estate and obtain the required local state and/or approvals required to be able to continue operations beyond the current lease term, (xxix) retention of key employees and recruitment and retention of skilled qualified personnel, (xxx) exposure to inflation, currency rates (mainly the Israeli Shekel, the Japanese Yen and the Euro) and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of our traded securities, (xxxi) meeting regulatory requirements worldwide, including export, environmental and governmental regulations, as well as risks related to international operations, (xxxii) potential engagement for fab establishment, joint venture and/or capital lease transactions for capacity enhancement in advanced technologies, including risks and uncertainties associated with the Agrate fab and the capacity corridor transaction with Intel as announced in September 2023, such as their qualification schedule, technology, equipment and process qualification, facility operational ramp-up, customer engagements, cost structure, required investments and other terms, which may require additional funding to cover their significant capacity investment needs and other payments, the availability of which funding cannot be assured on favorable terms, if at all, (xxxiii) potential liabilities, cost and other impacts that may be incurred or occur due to reorganization and consolidation of fabrication facilities, including the impact of cessation of operations of our facilities, including with regard to our 6 inch facility, (xxxiv) potential security, cyber and privacy breaches, (xxxv) workforce that is not unionized which may become unionized, and/or workforce that is unionized and may take action such as strikes that may create increased cost and operational risks, (xxxvi) the issuance of ordinary shares as a result of exercise and/or vesting of any of our employee equity, as well as any sale of shares by any of our shareholders, or any market expectation thereof, as well as the issuance of additional employee stock options and/or restricted stock units, or any market expectation thereof, which may depress the market value of the Company and the price of the Company’s ordinary shares and in addition may impair our ability to raise future capital, and (xxxvii) climate change, business interruptions due to floods, fires, pandemics, earthquakes and other natural disasters, the security situation in Israel, global trade “war” and the current war in Israel, including the potential inability to continue uninterrupted operations of the Israeli fab, impact on global supply chain to and from the Israeli fab, power interruptions, chemicals or other leaks or damages as a result of the war, absence of workforce due to military service as well as risk that certain countries will restrict doing business with Israeli companies, including imposing restrictions if hostilities in Israel or political instability in the region continue or exacerbate, and other events beyond our control. With respect to the current war in Israel, if instability in neighboring states occurs, Israel could be subject to additional political, economic, and military confines, and our Israeli facility’s operations could be materially adversely affected. Any current or future hostilities involving Israel or the interruption or curtailment of trade between Israel and its present trading partners, or a significant downturn in the economic or financial condition of Israel, could have a material adverse effect on our business, financial condition and results of operations.

    A more complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this release or which may otherwise affect our business is included under the heading “Risk Factors” in the Company’s most recent filings on Forms 20-F and 6-K, as were filed with the SEC and the Israel Securities Authority. Future results may differ materially from those previously reported. The Company does not intend to update, and expressly disclaims any obligation to update, the information contained in this release.

    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)  
    (dollars in thousands)  
      December 31,   December 31,  
      2024   2023  
    ASSETS        
    CURRENT ASSETS        
    Cash and cash equivalents $ 271,894   $ 260,664  
    Short-term deposits 946,351   790,823  
    Marketable securities —   184,960  
    Trade accounts receivable 211,932   154,067  
    Inventories 268,295   282,688  
    Other current assets 61,817   35,956  
    Total current assets 1,760,289   1,709,158  
    PROPERTY AND EQUIPMENT, NET 1,286,622   1,155,929  
    GOODWILL AND OTHER INTANGIBLE ASSETS, NET 10,196   12,115  
    OTHER LONG-TERM ASSETS 23,378   41,315  
    TOTAL ASSETS $ 3,080,485   $ 2,918,517  
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
    CURRENT LIABILITIES        
    Short-term debt $ 48,376   $ 58,952  
    Trade accounts payable 130,624   139,128  
    Deferred revenue and customers’ advances 21,655   18,418  
    Other current liabilities 84,409   60,340  
    Total current liabilities 285,064   276,838  
    LONG-TERM DEBT 132,437   172,611  
    LONG-TERM CUSTOMERS’ ADVANCES 7,690   25,710  
    OTHER LONG-TERM LIABILITIES 15,114   16,319  
    TOTAL LIABILITIES 440,305   491,478  
    TOTAL SHAREHOLDERS’ EQUITY 2,640,180   2,427,039  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 3,080,485   $ 2,918,517  
             
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    REVENUES $ 387,191   $ 370,512   $ 351,711  
    COST OF REVENUES 300,338   277,451   267,294  
    GROSS PROFIT 86,853   93,061   84,417  
    OPERATING COSTS AND EXPENSES:            
    Research and development 20,622   19,867   20,849  
    Marketing, general and administrative 19,812   17,432   18,401  
      40,434   37,299   39,250  
                 
    OPERATING PROFIT 46,419   55,762   45,167  
    FINANCING AND OTHER INCOME, NET 8,315   6,104   16,682  
    PROFIT BEFORE INCOME TAX 54,734   61,866   61,849  
    INCOME TAX EXPENSE, NET (2,149)   (7,026)   (10,130)  
    NET PROFIT 52,585   54,840   51,719  
    Net loss (profit) attributable to non-controlling interest 2,553   (193)   2,128  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    BASIC EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.49  
    Weighted average number of shares 111,493   111,237   110,796  
    DILUTED EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.48  
    Weighted average number of shares 112,967   112,474   111,308  
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    Stock based compensation 10,684   8,611   6,662  
    Amortization of acquired intangible assets 574   448   442  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 66,396   $ 63,706   $ 60,951  
    ADJUSTED EARNINGS PER SHARE:            
    Basic $ 0.60   $ 0.57   $ 0.55  
    Diluted $ 0.59   $ 0.57   $ 0.55  
                 
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Year ended  
      December 31,  
      2024   2023  
    REVENUES $ 1,436,122   $ 1,422,680  
    COST OF REVENUES 1,096,680   1,069,161  
    GROSS PROFIT 339,442   353,519  
    OPERATING COSTS AND EXPENSES:        
    Research and development 79,434   79,808  
    Marketing, general and administrative 74,964   72,454  
    Restructuring income, net * (6,270)   (32,506)  
    Merger-contract termination fee, net ** —   (313,501)  
      148,128   (193,745)  
             
    OPERATING PROFIT 191,314   547,264  
    FINANCING AND OTHER INCOME, NET 26,113   37,578  
    PROFIT BEFORE INCOME TAX 217,427   584,842  
    INCOME TAX EXPENSE, NET (10,205)   (65,312)  
    NET PROFIT 207,222   519,530  
    Net loss (profit) attributable to non-controlling interest 642   (1,036)  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    BASIC EARNINGS PER SHARE $ 1.87   $ 4.70  
    Weighted average number of shares 111,153   110,289  
    DILUTED EARNINGS PER SHARE $ 1.85   $ 4.66  
    Weighted average number of shares 112,343   111,216  
    * Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022.  
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost.  
             
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    Stock based compensation 33,837   27,931  
    Amortization of acquired intangible assets 1,918   1,923  
    Restructuring income, net *** (2,634)   (11,224)  
    Merger-contract termination fee, net **** —   (289,988)  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 240,985   $ 247,136  
    ADJUSTED EARNINGS PER SHARE:        
    Basic $ 2.17   $ 2.24  
    Diluted $ 2.15   $ 2.22  
    *** Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022, net of tax.
    **** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost and tax.
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)  
    (dollars in thousands)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 270,979   $ 265,313   $ 314,816  
    Net cash provided by operating activities 100,816   124,743   126,098  
    Investments in property and equipment, net (93,396)   (127,624)   (136,426)  
    Debt received (repaid), net 2,795   (16,402)   (8,950)  
    Effect of Japanese Yen exchange rate change over cash balance (4,972)   5,537   2,101  
    Proceeds from (investment in) deposits, marketable securities and other assets, net (4,328)   19,412   (36,975)  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 270,979   $ 260,664  
      Year ended      
      December 31,   December 31,      
      2024   2023      
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 260,664   $ 340,759      
    Net cash provided by operating activities 448,682   676,561 *    
    Investments in property and equipment, net (431,653)   (432,184)      
    Debt repaid, net (32,455)   (32,346)      
    Proceeds from investment in subsidiary —   1,932      
    Effect of Japanese Yen exchange rate change over cash balance (4,758)   (5,395)      
    Proceeds from (investment in) deposits, marketable securities and other assets, net 31,414   (288,663)      
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664      
    * Merger-contract termination fee received from Intel during 2023, net of associated cost, in the amount of $313,501  
    was included within the net cash provided by operating activities for the year ended December 31, 2023.  
     TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)  
    (dollars in thousands)  
      Year ended  
      December 31,   December 31,  
      2024   2023  
    CASH FLOWS – OPERATING ACTIVITIES        
    Net profit for the period $ 207,222   $ 519,530  
    Adjustments to reconcile net profit for the period        
    to net cash provided by operating activities:        
    Income and expense items not involving cash flows:        
    Depreciation and amortization * 266,279   258,021  
    Effect of exchange rate differences and fair value adjustment 133   (1,632)  
    Other expense (income), net 24,721   (7,047)  
    Changes in assets and liabilities:        
    Trade accounts receivable (60,169)   (3,160)  
    Other current assets (33,992)   (9,541)  
    Inventories 4,778   8,682  
    Trade accounts payable 35,784   (8,254)  
    Deferred revenue and customers’ advances (14,783)   (35,676)  
    Other current liabilities 22,021   (70,163)  
    Other long-term liabilities (3,312)   25,801  
    Net cash provided by operating activities 448,682   676,561 **
    CASH FLOWS – INVESTING ACTIVITIES        
    Investments in property and equipment, net (431,653)   (432,184)  
    Proceeds from (investments in) deposits, marketable securities and other assets, net 31,414   (288,663)  
    Net cash used in investing activities (400,239)   (720,847)  
    CASH FLOWS – FINANCING ACTIVITIES        
    Debt repaid, net (32,455)   (32,346)  
    Proceeds from investment in subsidiary —   1,932  
    Net cash used in financing activities (32,455)   (30,414)  
    EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE (4,758)   (5,395)  
             
    INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 11,230   (80,095)  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 260,664   340,759  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664  
    * Includes amortization of acquired intangible assets and stock based compensation in the amounts of $35,755  
    and $29,854 for the years ended December 31, 2024, and December 31, 2023, respectively.      
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost, in the amount
    of $313,501 was included within the net cash provided by operating activities for the year ended December 31, 2023.
             

    The MIL Network –

  • MIL-OSI United Kingdom: Interest continues to soar in ‘earn while you learn’ apprenticeships

    Source: Northern Ireland City of Armagh

    (L-R): Roger Wilson, Chief Executive Armagh City, Banbridge and Craigavon Borough Council; Lee Campbell, SRC Principal & CEO; Harry Hamilton, ABC LMP Vice-Chairperson; Councillor Kyle Savage, Deputy Lord Mayor of Armagh City, Banbridge and Craigavon; Tracy Rice, ABC LMP Chairperson; Alderman Paul Greenfield. (Economic Development and Regeneration Committee Chair, ABC Council).

    Over 920 people attended The Big Apprenticeship Event at the Craigavon Civic and Conference Centre on Thursday 6 February, to explore the opportunities available with apprenticeships and higher level apprenticeships across sectors from robotics, accountancy, beauty therapy, construction and engineering to transport and science.

    This is a key event in the Armagh, Banbridge and Craigavon (ABC) Labour Market Partnership’s Get Future Ready campaign, in partnership with Southern Regional College (SRC). The event ran alongside the Department for the Economy’s (DfE) Apprenticeship Week, which occurred from the 3 – 7 February 2025.

    Speaking at the event, Deputy Lord Mayor of Armagh City, Banbridge and Craigavon, Councillor Kyle Savage said; “Apprenticeships have come a long way from being associated with traditional trades to being a much sought-after pathway to a successful career in a wide range of sectors.

    “Throughout this event we have heard first hand from employers, education and training providers and current apprentices about how apprenticeships, which have greatly increased in recent years, are important for our future economy and a worthwhile investment for employers and apprentices alike. Employers can harness skills that best meet the needs of the business and apprentices feel secure and confident by learning sector-specific skills and gaining industry recognised qualifications.”

     “In council we are committed to working with our partners to drive the vision of the Labour Market Partnership to help get local people closer to work and into work through apprenticeships so everyone can achieve their full potential.”

    The theme for this year’s Apprenticeship Week was ‘Getting it Right for You’, highlighting the varied and flexible opportunities that exist with an apprenticeship.

    Lee Campbell, Principal & CEO of Southern Regional College added; “It has been incredible to witness the increased interest and enthusiasm for all things apprenticeships. The College has continuously developed the range of apprenticeship opportunities available, catering for the diverse interests and career pathways of people within the southern region.  

    “Apprenticeship and higher level apprenticeships offer participants the distinct opportunity to train for a career in a chosen field, whilst being in employment. Our aspiration is to enable as many people as possible to start a career they enjoy and are passionate about. We look forward to September when we will be welcoming new apprentices starting their journey with Southern Regional College.”

    Click here to find out more about apprenticeships at SRC.

    MIL OSI United Kingdom –

  • MIL-OSI Economics: World first: Thales delivers first autonomous drone system for mine countermeasures to the French Navy

    Source: Thales Group

    Headline: World first: Thales delivers first autonomous drone system for mine countermeasures to the French Navy

    • Thales has delivered the first drone system for mine countermeasures to the French Navy, as part of the MMCM (Maritime Mine Counter Measures) programme.
    • World first: this is the first autonomous surface drone system in service with a navy.
    • Thales achieves a technological breakthrough with autonomous, cyber-secure drone systems that include Artificial Intelligence (AI). The Group is involved in redefining the operational concept for mine warfare.
    Thales ©Eloi Stichelbaut|Polaryse

    Thales delivered the first serial production system of mine countermeasure drones to the French Navy in December 2024. This is a world first, as part of the Franco-British MMCM program, led by the French Defence Procurement Agency (DGA) and under the aegis of OCCAR1. A real technological breakthrough in the conduct of mine countermeasure missions, this system helps reduce sailors’ exposure to danger and contributes to the security of the maritime domain, which is the backbone of the global economy.

    The first system delivered to the French Navy includes a surface drone (USV – Unmanned Surface Vehicle) equipped with the towed sonar TSAM for the detection and classification of naval mines. Its operations can be controlled from land, from a mother ship, or from an opportunistic vessel, thereby enabling mine countermeasure missions to be carried out while reducing crew exposure to danger. Thales, the systems provider and integrator for the MMCM program, is at the forefront of drone systems for naval mine countermeasures, with innovative solutions such as the SAMDIS multi-view ​ sonar, the portable e-POC operations centre, the M-Cube mission management system, and the Mi-Map data analysis application, recognized for its exceptional performance and low false alarm rate, particularly due to the use of artificial intelligence (AI).

    The compact 12-metre naval surface drone is designed to be air transportable, allowing for deployment within 48 hours aboard an A400M and can be embarked on the future Mine Warfare Vessel (BGDM).

    Thales and its partners are proud to have met the challenges associated with their role as pioneers. Within the SLAMF1 program, France will receive 6 USV in 2025: 3 system-of-systems, each comprising 2 USVs, will be delivered to the French Navy, in addition to the prototype system already delivered and updated. The British Royal Navy will also receive 4 system-of-systems, each consisting of one USV, during 2025.

    “The United Kingdom and France have set an ambitious goal: to transform their mine countermeasure capabilities by adopting new disruptive operational concepts. Thales is proud to be at the heart of this transformation, which positions both nations as pioneers in autonomous naval systems. Our Group, a world leader in mine countermeasures, reaffirms its position as an innovative and reliable partner that navies can count on to develop their strategic capabilities.” said Philippe Duhamel, Executive Vice-President, Defence Mission Systems, Thales.

    About Thales

    Thales (Euronext Paris: HO) is a global leader in advanced technologies specialising in three business domains: Defence & Security, Aeronautics & Space and Cyber & Digital.

    It develops products and solutions that help make the world safer, greener and more inclusive.

    The Group invests close to €4 billion a year in Research & Development, particularly in key innovation areas such as AI, cybersecurity, quantum technologies, cloud technologies and 6G.Thales has close to 81,000 employees in 68 countries. In 2023, the Group generated sales of €18.4 billion.

    1OCCAR : Organisation for Joint Armament Cooperation

    2SLAMF – Système de Lutte Anti-mines Marines Futur (future naval mine countermeasures system) is an advanced naval mine countermeasures system being developed primarily by the French Navy. This system aims to enhance the ability to detect, classify, and neutralize underwater mines, which pose a significant threat to naval operations and maritime security.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Raksha Mantri Shri Rajnath Singh inaugurates India, iDEX & Karnataka Pavilions at Aero India 2025 in Bengaluru

    Source: Government of India (2)

    Posted On: 10 FEB 2025 4:18PM by PIB Delhi

    Raksha Mantri Shri Rajnath Singh inaugurated the India, iDEX and Karnataka Pavilions at Aero India 2025 in Bengaluru, Karnataka on February 10, 2025. The India Pavilion is showcasing the design, development, innovation and manufacturing capabilities of the domestic defence industries through state-of-the-art products and technologies. It signifies the ‘Flight of Self-Reliance’ which encapsulates synergy among the three Services and the space sector and India’s journey towards becoming a global aerospace and defence powerhouse. After the inauguration, Raksha Mantri visited  various stalls set-up in the pavilion and interacted with the representatives of the companies, inspecting their products.

    At the India Pavilion, more than 275 exhibits are being displayed through various mediums, represented by complete defence ecosystem of the country including Defence PSUs, design houses and private companies including MSMEs and start-ups. The exhibits at the Central Area include a striking display of marquee platforms including Advanced Medium Combat Aircraft, Combat Air Teaming System and Twin-Engine Deck-Based Fighter. 

    At the iDEX Pavilion, leading innovators are displaying indigenously-developed products spanning a wide range of advanced domains including Aerospace, DefSpace, Aero Structures, Anti-drone systems, Autonomous Systems, Robotics, Communication, Cybersecurity, Surveillance & Tracking, Unmanned Ground Vehicles etc. The Pavilion will also feature a dedicated section highlighting the winners of the ADITI (Acing Development of Innovative Technologies with iDEX) scheme, showcasing their ground-breaking works in critical and niche technologies.

    Raksha Mantri unveiled three publications – iDEX Report 2024, iDEX Coffee Table Book and iDEX Finance Manual on the occasion. The iDEX Report and Coffee Table Book highlight the key milestones of the defence innovation ecosystem, celebrating the contributions of innovators & stakeholders. The iDEX Finance Manual simplifies the existing finance procedures to enhance the pace of projects, and facilitate ease of doing innovation for the iDEX winners.

    The Karnataka Pavilion is showcasing cutting-edge technologies from the defence and aerospace industries from the state. These innovations highlight Karnataka’s robust ecosystem in defence and aerospace, supported by over 2,000 SMEs. Deputy Chief Minister of Karnataka Shri DK Shiva Kumar was present on the occasion.

    ****

    VK/SPS/MJS/Savvy

    (Release ID: 2101326) Visitor Counter : 35

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India’s Coal Boom

    Source: Government of India

    India’s Coal Boom

    Policies, Production, and Investments

    Posted On: 10 FEB 2025 3:49PM by PIB Delhi

     Introduction

    With the fifth-largest geological coal reserves globally and as the second-largest consumer, coal continues to be an indispensable energy source, contributing to 55% of the national energy mix. Over the past decade, thermal power, predominantly fueled by coal, has consistently accounted for more than 74% of our total power generation. Despite commendable strides in promoting renewable energy sources, the sheer growth in electricity demand necessitates a continued reliance on thermal power, with projections indicating its share to be 55% by 2030 and 27% by 2047. It is anticipated through comprehensive studies that coal demand in 2030 will likely reach 1462 MT and 1755 MT by 2047.

     

    Growth of the Coal Sector in December 2024

     

    As per the Index of Eight Core Industries (ICI), the coal sector registered the highest growth of 5.3% in December 2024, reaching 215.1 points compared to 204.3 points in December 2023. During April-December 2024, the coal industry index increased to 177.6 points from 167.2 points in the previous year, marking a 6.2% growth—the highest among all core industries.

    The Combined Index of Eight Core Industries showed an overall growth of 4.0% in December 2024 compared to the previous year. The index for April-December 2024 increased by 4.2% over the same period in FY 2023-24, emphasizing coal’s significant contribution to industrial expansion. Additionally, the coal sector accounts for about 50% of freight revenue for Indian Railways and provides direct employment to nearly 4.78 lakh individuals.

    India’s coal production has reached an all-time high of 997.82 million tonnes (MT) in FY 2023-24, marking a significant rise from 609.18 MT in FY 2014-15, with a Compound Annual Growth Rate (CAGR) of 5.64% over the past decade. In FY 2023-24 alone, production has surged by 11.71% compared to the previous year. Coal India Limited (CIL) remains the dominant producer, while SCCL and Others/Captive sources have also shown consistent growth, particularly in the last three years.

     

    State Governments also benefit significantly from coal revenues, with royalty, District Mineral Foundation (DMF) contributions, and State GST collections amounting to ₹31,281.7 crore in the fiscal year 2023-24.

     

    Dispatch of Coal

     

    The cumulative coal dispatch April 2024 to January 2025 has risen to 843.75 MT, marking 5.73% increase from 798.02 MT recorded during the corresponding period of the previous year. Mine opening permissions were granted for three new mines—Bhaskarpara, Utkal E, and Rajhara North (Central and Eastern). The Ministry of Coal remains committed to augmenting domestic production, reducing import dependence, and ensuring energy security for India.

     

    Indian Coal Sector Achieves Significant Import Reduction in FY 2023-24

     

    The Indian coal sector significantly reduced its import dependency in FY 2023-24, with only 110 MT classified as non-substitutable imports, by increasing domestic coal production. Between April and November 2024, coal imports declined by 5.35%, saving approximately $3.91 billion (₹30,007.26 crore). Notably, coal imports for domestic power plant blending fell by 23.56%. Supply from CIL and SCCL, along with captive sources, rose from 734 MT (2018-19) to 1149 MT (2023-24), while demand reached 1273 MT. Additionally, private sector coal production increased from 58 MT to 184 MT, further strengthening India’s energy self-sufficiency.

     

                    

    This decrease in imports and increase in domestic supply is enabled by various efforts of the government. The Ministry’s ‘Mission Coking Coal’ launched in 2022, aims to increase domestic coking coal production to 140 MT by FY 2029-30, thereby reducing dependency on imports in the steel sector. Other key strategies such as promoting commercial mining, expediting production from allocated blocks, and enhancing regional exploration (2525 sq. km by 2024) also play a crucial role. The introduction of the National Coal Mine Safety Report Portal and the Mine Closure Portal ensures responsible and transparent mining practices. The Ministry is considering the establishment of a Coal Trading Exchange to create a competitive and transparent market, further modernizing the sector.

     

    As of January 2025, the Ministry of Coal has allotted 184 mines, with 65 blocks receiving Mine Opening Permissions. Total production from these blocks has reached 136.59 MT, registering a 34.20% year-on-year increase. This is expected to exceed 170 MT target in FY 2024-25.

     

    Financial Incentive Scheme for Coal Gasification

     

    The Cabinet approved the scheme for promotion of Coal/Lignite Gasification Projects of Government PSUs and Private Sector, in January 2024. With a financial outlay of ₹8,500 crore, the scheme will provide Financial Assistance for coal gasification projects under three categories and aims to accelerate coal gasification, reduce carbon emissions, enhance energy security, and promote sustainable development.

     

    The scheme encourages both private companies and government PSUs to undertake coal gasification projects. For Category I, three applicants, Namely Bharat Coal Gasification and Chemicals Limited, CIL – GAIL Consortium and Coal India Limited were selected to be given Financial Incentives. New Era Cleantech Solution Private Limited was selected under Category III to be provided with Financial Incentive. The Request for Proposals (RFP) for Category-II was issued on May 15, 2024, and technical bids were opened on January 10, 2025. The selected applicants for financial incentives under Category-II are Jindal Steel and Power Limited, New Era Cleantech Solution Pvt. Ltd. and Greta Energy Limited.

     

    This initiative is a crucial part of India’s target to achieve 100 million tonnes of coal gasification by 2030, reflecting a shift towards advanced coal utilization technologies.

     

    Strengthening Coal Supply Chains

     

    To ensure uninterrupted coal supply, robust institutional mechanisms have been put in place, including an Inter-Ministerial Committee and coordination meetings with Railways and power sector stakeholders. As a result, coal stock at Thermal Power Plants now stands at 49 MT—sufficient for nearly 21 days, even amidst logistical restrictions during the Maha Kumbh period.

     

    To further enhance supply efficiency, the Ministry has launched the First Mile Connectivity (FMC) initiative, commissioning 39 projects with a total capacity of 386 MTPA. Additionally, the Rail-Sea-Rail (RSR) mode has successfully doubled coal movement from 28 MT in FY 2022 to 54 MT in FY 2024.

     

    Vesting Orders for Commercial Coal Mines

     

    A landmark policy reform came with the introduction of commercial coal mine auctions in 2020, encouraging private sector participation and modern technological adoption. The Ministry of Coal has recently issued vesting orders for seven coal mines under commercial coal mine auctions. The Coal Mine Development and Production Agreements (CMDPA) for these mines were signed on December 5, 2024.

    With the vesting of these mines, a total of 107 coal mines have been auctioned under commercial coal mine auctions, with a cumulative PRC of approximately 246.60 MTPA, generating estimated annual revenue of ₹34,000 crore and employment for about 3,33,000 people.

     

    Chintan Shivir 2.0: Deliberations on Energy Transition and Safety

     

    The Ministry of Coal organized Chintan Shivir 2.0 on January 7, 2025, focusing on coal sector reforms, energy transition, and safety measures. The forum underscored the importance of aligning coal mining with global sustainability goals and prioritizing worker safety. The discussions held emphasized on:

    • Enhancing production while integrating cleaner technologies
    • Reducing carbon emissions through coal gasification
    • Adoption of best practices for sustainability
    • Strengthening safety standards in mining operations

     

     

    The coal sector is embracing sustainability with large-scale afforestation efforts, with over 54.06 lakh saplings planted across 2,372 hectares in 2024. Under the ‘Ek Ped Maa Ke Naam’ campaign, over 1 million saplings were planted at 332 locations in 11 states. Additionally, 4,695 hectares of land have been identified for Accredited Compensatory Afforestation, and a total of 18,513 LKL of treated mine water has been provided to over 18.63 lakh people across 1,055 villages over the past five years.

     

    Workforce in the Coal Industry

     

    The total workforce in major coal companies under the Ministry of Coal is:

     

    • Coal India Limited (CIL): 3,30,318 employees
    • Singareni Collieries Company Limited (SCCL): 40,893 employees
    • NLC India Limited (NLCIL): 20,811 employees

     

    Mining operations follow stringent safety regulations under the Mines Act, 1952, including risk assessment, safety training, and medical screenings. Extensive healthcare services are provided to workers, with regular health check-ups to prevent occupational diseases.

     

    Central Sector Schemes of the Ministry of Coal

     

    The Ministry of Coal administers three key schemes:

     

    1. Exploration of Coal and Lignite – Identifies and categorizes coal/lignite resources, generating geological reports for auction/allocation. Promising areas undergo detailed exploration to upgrade resources to the ‘Proved’ category.
    2. Research & Development (R&D) – Overseen by the Standing Scientific Research Committee (SSRC), focusing on planning, budgeting, and implementing research projects for sector advancements.
    3. Conservation, Safety & Infrastructure Development – Under the Conservation and Development Act (CCDA), funds are provided for sand stowing, protective works, transport infrastructure, and mining safety improvements.

     

    The table below highlights the budget allocation and expenditure for Central Sector Schemes in the coal sector for 2023-24, with a total outlay of ₹843.5 crores and an expenditure of ₹299.09 crores.

     

     

    Conclusion

     

    The coal sector’s remarkable growth highlights its ability to meet the increasing demand from the energy and manufacturing industries. With initiatives like coal gasification, the sector is advancing toward India’s goal of achieving 100 MT of coal gasification by 2030, promoting cleaner and more efficient energy use.

     

    The Ministry of Coal remains steadfast in its commitment to boosting domestic coal production, reducing import dependency, and ensuring national energy security. As a key driver of economic progress, the sector continues to play a crucial role in the realization of Viksit Bharat, contributing to a self-reliant and developed India.

     

    References

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2009196

    https://pib.gov.in/PressReleasePage.aspx?PRID=2099183

    https://coal.gov.in/sites/default/files/2021-01/productiondata_tenyear.pdf

    https://coaldashboard.cmpdi.co.in/dashboard.php#

    https://pib.gov.in/PressReleasePage.aspx?PRID=2099549

    https://pib.gov.in/PressReleasePage.aspx?PRID=2099889

    https://pib.gov.in/PressReleasePage.aspx?PRID=2099037

    https://coal.gov.in/sites/default/files/2024-09/05-09-2024qurt.pdf

    https://coal.nic.in/en/central-sector-schemes

    https://pib.gov.in/PressReleasePage.aspx?PRID=2100763

    Click here to download PDF

    ****

    Santosh Kumar | Sarla Meena | Anchal Patiyal

    (Release ID: 2101314) Visitor Counter : 55

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Parliament Question: Schemes to Address Climate Change

    Source: Government of India (2)

    Posted On: 10 FEB 2025 3:11PM by PIB Delhi

    The Government stands committed to address the problems pertaining to the environment and climate change. The Government has notified a set of legislative and regulatory and administrative measures, aimed at the preservation, conservation and protection of the environment and prevention, control and abatement of pollution.

    The Ministry of Environment Forest & Climate Change (MoEFCC) has been designated as the nodal ministry in the Union Government to oversee the implementation of India’s environmental and forest policies and programmes including climate change. The Ministry has launched various schemes, aimed at the preservation, conservation and protection of the environment, forests and prevention, control and abatement of pollution.

    These schemes are at various stages of their implementation and include umbrella schemes on environmental knowledge and capacity building; national coastal management programme; environment education, awareness, research and skill development; control of pollution; national mission for a green India, integrated development of wildlife habitat; conservation of natural resources and ecosystem, the impact of some of which is given below:  

    The National Clean Air Programme (NCAP) launched in 2019 covers 130 cities in 24 States and UTs with an objective to achieve substantial improvement in air quality, up to 40% reduction in particulate matter by 2025-26 from 2017-18. A ‘PRANA’ portal has been launched to update the air quality data in real time.

    A regulatory framework for Circular Economy in various waste streams has been notified. The producers have been mandated to get the end-of-life wastes recycled under extended producer responsibility regime. Extended Producer Responsibility (EPR) rules have been notified for plastic waste, tyre waste, battery waste, used oil waste and e-waste with the objective to enhance the circularity in economy and also help manage the wastes in environmentally sound manner.

    The ‘Mangrove Initiative for Shoreline Habitats & Tangible Incomes (MISHTI)’ has been launched on 5th June, 2024 to restore and promote mangroves as a unique, natural eco-system and for preserving and enhancing the sustainability of the coastal habitats. The objective of the MISHTI is to ‘restore mangrove forests’ by undertaking mangrove reforestation/afforestation measures along the coast of India. Approximately 22,561 Hectares of Degraded Mangroves have been restored in 13 States/UTs and ₹17.96 Crore released for the restoration of 3,836 Hectares in 6 States/UTs

    The National Afforestation and Eco-development Board (NAEB) is implementing Nagar Van Yojana which envisages developing 600 Nagar Vans and 400 Nagar Vatikas in the country during the period from 2020-21 to 2026-27 with an objective to significantly enhance the trees outside forests and green cover, enhancement of biodiversity and ecological benefits to the urban and peri-urban areas apart from improving quality of life of city dwellers.

    The Mission LiFE (Lifestyle for Environment) is a global initiative launched by India in October, 2022 aimed at fostering sustainable lifestyles through mindful and deliberate consumption to protect the environment. The initiative focuses on seven core themes: saving water, conserving energy, reducing waste, managing e-waste, eliminating single-use plastics, promoting sustainable food systems, and adopting healthy lifestyles.

    In alignment with the ‘LiFE’, MoEFCC has notified the Eco-mark Rules on 26th September, 2024. The scheme will encourage the demand for environment-friendly products aligning with the principles of ‘LiFE’, promote lower energy consumption, resource efficiency and circular economy. The scheme seeks to ensure accurate labelling and prevent misleading information about products.

    On ‘World Environment Day’ celebrated on 5th June, 2024, the Hon’ble Prime Minister launched the campaign ‘Ek Ped Maa Ke Naam (# Plant4Mother)’, exhorting people to plant trees as a mark of love and respect for one’s own Mother and for protecting and preserving the Mother Earth. MoEFCC has reached out to Central Government Ministries/Departments, State Governments, Institutions and Organizations to ensure the plantation of 140 crore trees by March, 2025. 109 crore saplings have been planted by January 2025.

    The number of Protected Areas in the country, which stood at 745 in the year 2014 have risen to 1022. This accounts for 5.43% of the country’s total geographic area. There has been a substantial increase in establishment of Community Reserves. The numbers of Community Reserves in the country has increased from 43 in the year 2014 to 220 as on date.

    Apart from the protected areas, the country also has 57 Tiger Reserves notified under the Wild Life (Protection) Act, 1972 with the prime focus of conservation of tigers and its habitat. States have also declared 33 elephant reserves for providing safer habitats to the elephants.

    Since 2014, 59 wetlands have been added to the list of ‘Ramsar’ sites, taking the tally to 89 in the country covering an area of 1.35 million ha. India boasts the largest ‘Ramsar’ site network in Asia and the 3rd largest in the world in terms of number of sites. Besides, Udaipur and Indore have been recently included in the list of Wetland Accredited Cities under the Wetland City Accreditation Scheme implemented under the Ramsar Convention.

    As per All India Tiger Estimation 2022 report, the estimated tiger population in India is 3,682, which accounts for 70% of wild tiger population of the World. The area under the tiger reserve network is now 82,836.45 sq km, which is roughly 2.5% of the total geographical area of the country.

    India’s climate action is guided by its updated Nationally Determined Contributions (NDC) and the long-term strategy to reach net-zero by 2070 and it cuts across various sectors of the economy. The National Action Plan on Climate Change (NAPCC) provides the overarching framework for all climate actions and comprises missions in specific areas of solar energy, enhanced energy efficiency, sustainable habitat, water, sustaining Himalayan ecosystems, Green India, sustainable agriculture, human health and strategic knowledge for climate change. All these Missions are institutionalized and implemented by their respective Nodal Ministries/Departments. The MoEFCC has implemented the Central Sector Schemes namely, Climate Change Action Programme (CCAP) and the National Adaptation Fund for Climate Change (NAFCC) assisting in efforts of the Government to combat climate change.

    As a result of these interventions, India has progressively continued decoupling economic growth from GHG emissions. Between 2005 and 2020, India’s emission intensity of Gross Domestic Product (GDP) reduced by 36%. By October 2024, the share of non-fossil sources in the installed electricity generation capacity was 46.52%. The total installed capacity of renewable power, including large hydropower, is 203.22 GW, and cumulative renewable power installed capacity (excluding large hydro projects) has increased 4.5 times from 35 GW in March 2014 to 156.25 GW. India’s forest and tree cover has consistently increased and currently stands at 25.17% of the total geographical area of the country. From 2005 to 2021, an additional carbon sink of 2.29 billion tonnes of CO2 equivalent has been created.

    Despite India’s very low contribution to historical emissions and to the current levels of global emissions, India has taken several climate actions to reflect equity and the principle of common but differentiated responsibilities and respective capabilities in the light of different national circumstances and in the context of sustainable development and efforts to eradicate poverty, as enshrined in the United Nations Framework Convention on Climate Change (UNFCCC) and its Paris Agreement.

    This information was provided by UNION MINISTER OF STATE FOR ENVIRONMENT, FOREST AND CLIMATE CHANGE, SHRI KIRTI VARDHAN SINGH, in a written reply to a question in Lok Sabha today.

    *****

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  • MIL-OSI Asia-Pac: Boosting Food Processing & Storage Infrastructure in India

    Source: Government of India (2)

    Posted On: 10 FEB 2025 1:02PM by PIB Delhi

    Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) was envisaged as a comprehensive package which will result in creation of modern infrastructure with efficient supply chain management from farm gate to retail outlet. It will not only provide a big boost to the growth of food processing sector in the country but also improve the capacity of food processing units which help in providing better returns to farmers and creating employment opportunities especially in the rural areas, reducing wastage of agricultural produce, increasing the processing level and enhancing the export of the processed foods.

    However, standalone cold storages are not supported under PMKSY. The state-wise number of storages approved for captive use under PMKSY since inception in 2017 are at Annexue-1. Further, under the Scheme for Integrated Cold Chain & Value Addition Infrastructure a sub-scheme of PMKSY, 06 projects are approved in the state of Telangana in the last five years. The details district –wise are at Annexure-2.

    As informed by Food Corporation of India, Ministry of Consumer Affairs, Food and Public Distribution, in order to upgrade and modernize the storage facilities, Government of India approved Action Plan for construction of steel silos on PPP (Public Private Partnership) mode in the country.  Under this plan, Silos with capacity of 24.25LMT at various locations throughout country are under implementation. Out of which silos with a capacity of 17.75LMT have been completed and remaining 6.5LMT are under various stages of development. In addition to above, silos of 5.5LMT capacity at 7 locations have already been constructed and put to in use in 2007-09 under circuit base model. Further, under phase –I of Hub & Spoke model Silos of 10.125 LMT at 14 locations on FCI owned land awarded and 24.75 LMT at 66 locations on private land have been awarded and are in development stage. As per the data of Food Corporation of India (FCI), the status of Grain Silos construction as on 30.11.2024 is placed at Annexure-3

    MoFPI has been implementing Central Sector Umbrella Scheme – PMKSY since 2016-17 to create post-harvest infrastructure and processing facilities to boost the overall development of the food processing sector including reduction in post-harvest losses. The component schemes under PMKSY provide credit linked financial assistance (capital subsidy) in the form of grants-in-aid to entrepreneurs for setting up of food processing/preservation infrastructure which, inter-alia, includes cold storages and refrigerated vehicles to minimize post-harvest losses.

    As per the Evaluation Study conducted and submitted by NABARD Consultancy Services Pvt. Ltd. (NABCONS) in 2020 on “Impact of Units Implemented under Scheme for Integrated Cold Chain and Value Addition Infrastructure assisted by Ministry of Food Processing Industries (MoFPI)”, it was highlighted that due to interventions of the Integrated Cold Chain and Value Addition Infrastructure Scheme of Ministry of Food Processing Industries, while all sectors had shown some decrease in wastages, but Fruits & Vegetables, Dairy and Fisheries sector had shown significant reduction in wastages.

    Apart from MoFPI, Ministry of Agriculture and Farmers Welfare has also launched the Agriculture Infrastructure Fund (AIF) Scheme in July 2020 under the Atmanirbhar Bharat package in order to improve post-harvest infrastructure and create community farming assets. The AIF Scheme facilitates sanction of medium to long term loans by Banks and other lending institutions for the setting up of cold storage facilities, warehouses and processing units, aimed at reducing crop wastage and enhancing value addition.

    This information was provided by the minister of state for food processing industries Shri Ravneet Singh in a written reply to rajysabha.

    *****

     

    ANNEXURE-1

    ANNEXURE REFERRED TO IN REPLY TO PART (a) OF RAJYA SABHA UNSTARRED QUESTION NO. 578 FOR ANSWER ON 07TH FEBRUARY, 2025 REGARDING “STORAGE FACILITIES UNDER PRADHAN MANTRI KISAN SAMPADA YOJNA”

     

    Ministry is implementing Pradhan Mantri Kisan Sampada Yojna (PMKSY). Under PMKSY standalone Cold storages/ frozen storage/ CA/ MA are not supported. The number of storages approved for captive use under PMKSY since inception in 2017 are as follows:

     

    S.No

    State

    No of Cold storages/ frozen storage/ CA/ MA

    Capacity

    (LMT/Annum)

    1

    Andaman & Nicobar

    2

    0.29

    2

    Andhra Pradesh

    31

    7.88

    3

    Arunachal Pradesh

    1

    0.14

    4

    Assam

    8

    6.97

    5

    Bihar

    1

    7.44

    6

    Chandigarh

    0

    0.0

    7

    Chhattisgarh

    6

    2.61

    8

    Dadar & Nagar Haveli and Daman & Diu

    0

    0.05

    9

    Delhi

    0

    0.0

    10

    Goa

    0

    0.06

    11

    Gujarat

    35

    20.28

    12

    Haryana

    30

    8.89

    13

    Himachal Pradesh

    28

    4.34

    14

    Jammu & Kashmir

    16

    1.99

    15

    Jharkhand

    0

    0.0

    16

    Karnataka

    35

    12.17

    17

    Kerala

    12

    4

    18

    Ladakh

    0

    0.0

    19

    Lakshadweep

    0

    0.0

    20

    Madhya Pradesh

    17

    8.17

    21

    Maharashtra

    93

    72.71

    22

    Manipur

    5

    0.09

    23

    Meghalaya

    0

    0.12

    24

    Mizoram

    9

    0.58

    25

    Nagaland

    3

    0.35

    26

    Orissa

    8

    2.54

    27

    Puduchery

    0

    0.0

    28

    Punjab

    61

    14.69

    29

    Rajasthan

    29

    7.18

    30

    Sikkim

    0

    0.0

    31

    Tamil Nadu

    59

    10.6

    32

    Telangana

    16

    9.49

    33

    Tripura

    1

    1.11

    34

    Uttar Pradesh

    38

    16.92

    35

    Uttarakhand

    64

    11.61

    36

    West Bengal

    35

    8.06

     

    TOTAL

    643

    241.33

     

    ANNEXURE-2

    ANNEXURE REFERRED TO IN REPLY TO PART (a) OF RAJYA SABHA UNSTARRED QUESTION NO. 578 FOR ANSWER ON 07TH FEBRUARY, 2025 REGARDING “STORAGE FACILITIES UNDER PRADHAN MANTRI KISAN SAMPADA YOJNA”

     

     

    Details of sanctioned projects in the state of Telangana under the scheme of Integrated Cold Chain & Value Addition Infrastructure, a component of Pradhan Mantri Kisan Sampada Yojna (PMKSY) in the last five years  (as on 31.12.2024)

     

    Sr.No.

    Project

    Sector

    District

    State

    Total project cost
     (₹ in crore)

    Approved grant   (₹ in crore)

    Amount of grant released          (₹ in crore)

    Status

    1

    Sri Krupa RGR Agrogatros

    F&V

    Nalgonda

    Telangana

    36.22

    9.36

    2.22

    Under Implementation

    2

    VNR Dairy Products

    Dairy

    Nalagonda

    Telangana

    26.20

    6.84

    4.56

    Under Implementation

    3

    Dadus

    Dairy

    Malkajgiri

    Telangana

    77.31

    7.35

    2.45

    Under Implementation

    4

    Almond House Private Limited

    Dairy

    Hyderabad

    Telangana

    56.81

    7.62

    2.54

    Under Implementation

    5

    Manjeera Dairy Products

    Dairy

    Sangareddy

    Telangana

    22.71

    6.51

    0

    Under Implementation

    6

    AL QAWI Frozen Foods Pvt Ltd

    Meat

    Sangareddy

    Telangana

    32.71

    8.68

    0

    Under Implementation

     

    TOTAL

     

     

     

    251.96

    46.36

    11.77

     

     

    ANNEXURE-3

     

    ANNEXURE REFERRED TO IN REPLY TO PART (b) OF RAJYA SABHA UNSTARRED QUESTION NO. 578 FOR ANSWER ON 07TH FEBRUARY, 2025 REGARDING “STORAGE FACILITIES UNDER PRADHAN MANTRI KISAN SAMPADA YOJNA”

                                                 (Position as on 30.11.2024)

     

    STATEMENT SHOWING AGENCY-WISE STATE-WISE STATUS OF SILO CONSTRUCTION

    (Fig. In LMT)

     

    Agency

     

    State

    Target as per Action Plan

     

    Completed

    Under Construction

     

    Grand Total

     

     

     

     

     

     

    FCI

    Assam

    0.5

    0.5

    0

    0.5

    Bihar

    4.5

    1.5

    2.0

    3.5

    Chattisgarh

    1

    0

    0

    0

    Delhi

    1

    0

    0

    0

    Gujarat

    1

    1.50

    0

    1.5

    Karnataka

    0.25

    0

    0

    0

    Haryana

    3

    2.50

    0

    2.5

    Maharashtra

    1

    0

    0

    0

    Punjab

    4.25

    3.75

    0

    3.75

    Rajasthan

    1.5

    0

    0

    0

    Uttar Pradesh

    7

    1.50

    2.0

    3.5

    West Bengal

    4

    0

    1.0

    1

    Total

     

    29

    11.25

    5.00

    16.25

    CWC

    Punjab

    2.5

    0

    0

    0

     

     

     

     

     

     

    State Govt.

    Andhra Pradesh

    3.5

    0

    0

    0

    Bihar

    5

    0

    0

    0

    Gujrat

    2

    0

    0

    0

    Haryana

    6.5

    0

    0

    0

    Madhya

    Pradesh

    10

    4.5

    0

    4.5

    Maharashtra

    0.5

    0

    0

    0

    Orrisa

    2

    0

    0

    0

    Punjab

    24.25

    2.0

    0

    2.0

    Rajasthan

    4.75

    0

    0

    0

    Telangana

    1.5

    0

    0

    0

    Uttar Pradesh

    5

    0

    1.5

    1.5

    West Bengal

    3.5

    0

    0

    0

    Total

     

    68.5

    6.50

    1.50

    8.00

    Grand Total

    100

    17.75

    6.50

    24.25

    Note: In addition the silos under process, it has been decided to construct further silos under Hub & Spoke model.

     

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  • MIL-OSI Asia-Pac: Aero India 2025 takes flight; Raksha Mantri inaugurates 15th edition of Asia’s biggest aerospace & defence exhibition in Bengaluru

    Source: Government of India (2)

    Aero India 2025 takes flight; Raksha Mantri inaugurates 15th edition of Asia’s biggest aerospace & defence exhibition in Bengaluru

    Aero India 2025 will further strengthen relations among like-minded countries to deal with today’s uncertainties: Shri Rajnath Singh

    “There is no Indian security or Indian peace in isolation; Security, stability & peace are shared constructs that transcend national borders”

    Today, the defence sector is powering the growth engine of Indian economy, says RM

    Posted On: 10 FEB 2025 11:57AM by PIB Delhi

    “Aero India 2025, a confluence of critical & frontier technologies, will provide a platform to further strengthen relations among like-minded countries based on mutual respect, mutual interest and mutual benefit to deal with today’s uncertainties,” said Raksha Mantri Shri Rajnath Singh while inaugurating the 15th edition of Aero India at the Yelahanka Air Force Station in Bengaluru, Karnataka on February 10, 2025. He exuded confidence that Aero India 2025 will showcase the country’s industrial capability and technological advancements to the world, while further strengthening symbiotic relations with friendly countries. Lasting peace can only be achieved if nations become stronger together and work for a Better World Order, he said. 

    Raksha Mantri stated that the five-day event will witness the participation of Government Representatives, Industry Leaders, Air Force Officers, Scientists, Defence Sector Experts, Start-ups, Academia & other stakeholders from all across the globe, and this confluence would bring India’s partners closer to the benefit of all. 

    “We often interact as buyers and sellers, where our relations are at a transactional level. However, at another level, we forge our partnership beyond the buyer-seller relationship to the level of Industrial Collaboration. We have many successful examples of co-production and co-development with like-minded countries. For us, there is no Indian security or Indian peace in isolation. Security, stability and peace are shared constructs that transcend national borders. The presence of our foreign friends is a testimony to the fact that our partners share our vision of One earth, One family, One future,” added Shri Rajnath Singh. 

    Raksha Mantri pointed out that in the present environment of global uncertainty, India is one such big country which is witnessing peace and prosperity. “India has never attacked any country nor has it been involved in any great power rivalry. We have always been an advocate of peace and stability. It is part of our fundamental ideals,” he said. Shri Rajnath Singh told the Defence Ministers, senior officials and representatives of foreign Original Equipment Manufacturers present on the occasion that their cooperation with India is crucial for global peace, prosperity and stability.  

    Shri Rajnath Singh asserted that India is going through a transformational phase, rapidly moving from a developing to a developed nation. He added that a vibrant and thriving defence industry ecosystem has been created in the country due to a concerted, sustained and well thought out roadmap by the Government under the leadership of Prime Minister Shri Narendra Modi. He stressed that the defence industrial sector, which was earlier not viewed as a component of national economy, has today been fully integrated with the overall economy. The sector is now a motor, powering the growth engine of the Indian economy, he said. 

    Raksha Mantri stated that the record allocation of Rs 6.81 lakh crore to Ministry of Defence in Union Budget 2025-26, including Rs 1.80 lakh crore for capital acquisition, is a proof that the Government considers defence as a top-priority sector. He added that like the previous budget, 75% of modernisation budget has been reserved for procurement through domestic sources with an aim to widen and deepen the capabilities of India’s Defence Industrial Complex.  

    Shri Rajnath Singh reiterated the Government’s commitment towards enhancing the participation of private players in this overall growth story. “The private sector is going to play a big role in the economic mainstreaming. Due to its drive, resilience and entrepreneurship, the sector is capable of bringing a new wave of prosperity in the country. In many advanced countries, private industry has led defence production. The time has come that, here as well, the sector becomes an equal partner in the defence industry,” he said. 

    Raksha Mantri added that the defence manufacturers are working with a collaborative approach to strengthen the defence sector, terming the joint venture between Tata Advanced Systems Limited and Airbus for the production of C-295 transport aircraft in Gujarat as a shining example of this cooperation. He added that today India has become a Globally Preferred Destination for Aerospace Components & Complex System Assembly and the public sector & private industries are playing an important role in this transformation. 

    Shedding light on the accomplishments achieved from the last Aero India, Shri Rajnath Singh stated that a number of high-tech products such as Astra Missile, New Generation Akash Missile, Autonomous Underwater Vehicle, Unmanned Surface Vessel, Pinaka Guided Rocket are being manufactured within the country. He voiced the Government’s unwavering resolve to surpass the Rs 1.27 lakh crore defence production and Rs 21,000 crore defence exports figures in the coming times, and ensure that the defence sector moves ahead at an unprecedented pace. It may be recalled that during the curtain raiser press conference of Aero India 2025 last evening, Raksha Mantri had expressed confidence that defence production will exceed Rs 1.60 lakh crore by the end of 2025-26 and defence exports will surpass Rs 30,000 crore. 

    On 2025 being declared as the ‘Year of Reforms’ in the Ministry of Defence, Raksha Mantri termed it as not just a government slogan, but the Government’s commitment towards reforms. He said the decisions for reforms are not being taken only at the Ministry level, but Armed Forces and DPSUs are also participating in this endeavour. “To take this drive of reforms forward more rapidly, there should be participation of all stakeholders in the defence sector. Suggestions from all stakeholders associated with the Ministry are welcome,” he said. 

    Earlier, Shri Rajnath Singh welcomed the distinguished guests from across the world by enlightening them about the Indian tradition of Atithi Devo Bhava, which means ‘A Guest is Equivalent to God’ which, he said, can be witnessed clearly at the Maha Kumbh underway in the holy city of Prayagraj. “While Maha Kumbh is the Kumbh of introspection, Aero India is the Kumbh of research. While Maha Kumbh is focusing on internal strength, Aero India will centre on external strength. While Maha Kumbh showcases the culture of India, Aero India will display the power of India,” he added. 

     The 15th edition of Asia’s biggest aerospace and defence exhibition, inaugurated by Raksha Mantri, will showcase, over the next five days, India’s aerial prowess and indigenous cutting-edge innovations alongside state-of-the-art products of global aerospace companies. In line with ‘Aatmanirbhar Bharat’ and ‘Make in India, Make for the World’ vision, the event will also provide a stage to forge international collaborations to fast-track the indigenisation process, thereby providing a thrust to Prime Minister Shri Narendra Modi-led Government’s resolve of making the country Viksit Bharat by 2047. 

    February 10th to 12th have been reserved as business days, with 13th & 14th set as public days for people to witness the show. The event comprises Defence Ministers’ Conclave; CEOs Roundtable; inauguration of India & iDEX Pavilions; Manthan iDEX event; Samarthya Indigenisation event; Valedictory function; seminars; breath-taking airshows and an exhibition of aerospace companies. 

    Raksha Rajya Mantri Shri Sanjay Seth, Chief Minister of Nagaland Shri Neiphiu Rio, Deputy Chief Minister of Karnataka Shri DK Shiva Kumar, Chief of Defence Staff General Anil Chauhan, Chief of the Naval Staff Admiral Dinesh K Tripathi, Chief of the Army Staff General Upendra Dwivedi, Chief Secretary, Government of Karnataka Dr Shalini Rajneesh, Defence Secretary Shri Rajesh Kumar Singh, Secretary (Defence Production) Shri Sanjeev Kumar and Vice Chief of the Air Staff Air Marshal SP Dharkhar were among the dignitaries present on the occasion.

                ****

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  • MIL-OSI Asia-Pac: Speech by CE at Opening Ceremony of Tech Applied Summit (English only) (with video)

    Source: Hong Kong Government special administrative region

    Speech by CE at Opening Ceremony of Tech Applied Summit (English only) (with video)
    Speech by CE at Opening Ceremony of Tech Applied Summit (English only) (with video)
    ***********************************************************************************

         Following is the speech by the Chief Executive, Mr John Lee, at the Opening Ceremony of Tech Applied Summit today (February 10):      Ir Sunny Lee (Chairman of Hong Kong Applied Science and Technology Research Institute), distinguished guests, ladies and gentlemen,           Good morning. It gives me great pleasure to speak to you at the inaugural Tech Applied Summit, as we celebrate the 25th anniversary of ASTRI – the Hong Kong Applied Science and Technology Research Institute.           Twenty-five years ago, ASTRI began its journey with an important mission: to boost Hong Kong’s global competitiveness through applied research. Today, it stands as a leading research and development (R&D) powerhouse, and a key contributor to Hong Kong’s innovation and technology (I&T) sector.           Hong Kong, too, is on a mission. We are racing towards the vision of becoming an international innovation and technology centre, with the support of the National 14th Five-Year Plan.           Under the unique “one country, two systems” principle, Hong Kong enjoys both the China advantage and the global advantage. We boast an excellent business environment with world-class professional services. Our established common law regime dovetails with the legal system of many global financial centres. We are the only city in Asia with as many as five universities in the world’s top 100.           These helped to cultivate our highly talented and versatile workforce. We also continue to attract top scholars and researchers to our institutions. With unparalleled access to both the Mainland market and the global market, our business environment provides a good foundation for the commercialisation, and transformation, of outstanding research outcomes.           Last year, Hong Kong once again became the world’s freest economy, and ranked fifth in the World Competitiveness Yearbook. The Shenzhen-Hong Kong-Guangzhou science and technology cluster has been ranked the world’s second-most innovative hub for five consecutive years.           These aren’t just rankings – they are proof of Hong Kong’s resilience, adaptability and drive. Our dedication to innovation and transformation.           The Hong Kong SAR (Special Administrative Region) Government has been implementing forward-looking policies to drive our city’s I&T advancement. Our HK$10 billion RAISe+ Scheme (Research, Academic and Industry Sectors One-plus Scheme), launched by this term of the Government, is fast-tracking R&D commercialisation. The New Industrialisation Acceleration Scheme is helping industries like life and health technology and advanced manufacturing build cutting-edge, smart production facilities.            And we’re just getting started. The new HK$10 billion Innovation and Technology Industry-Oriented Fund will soon launch, to channel more investment in emerging and future industries of strategic importance. All these initiatives are making Hong Kong a launch pad for start-ups, researchers and investors to turn bold ideas into transformative realities.           The Northern Metropolis, situated in the north of our city, will become a growth engine and another game changer to our I&T scene. We are developing the Hong Kong-Shenzhen Innovation and Technology Park in the Loop, an area that straddles our boundary with the neighbouring Mainland city of Shenzhen, to create unprecedented opportunities for cross-boundary I&T collaboration.           As the Park officially enters into its operational phase this year, I am confident that it will become a hub where ideas radiate beyond boundaries, and where innovation know no limits.           Ladies and gentlemen, today’s Tech Applied Summit exemplifies how collaboration can supercharge innovation. We are excited about the opportunities that lie ahead and are committed to continuing our journey of innovation and excellence.           I would like to thank ASTRI for organising this remarkable Summit, and for your unwavering commitment to Hong Kong’s I&T development. My best wishes to your continued success in the next quarter century and beyond.           I wish you all a prosperous Year of the Snake, and the best of innovation in the years to come. Thank you.

     
    Ends/Monday, February 10, 2025Issued at HKT 11:50

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CE meets leaders of Heilongjiang Province in Harbin (with photos/ videos)

    Source: Hong Kong Government special administrative region

    The Chief Executive, Mr John Lee, continued his visit to Harbin today (February 10) to meet with leaders of Heilongjiang Province. He also met with the injured Hong Kong ice hockey athletes and Hong Kong people working and doing business in the three northeastern provinces, and visited the Beidahuang Museum.

    Mr Lee met respectively with the Secretary of the CPC Heilongjiang Provincial Committee, Mr Xu Qin, and the Governor of Heilongjiang Province, Ms Liang Huiling, to exchange views on issues of mutual concern. Mr Lee noted that Heilongjiang Province has leveraged the ice and snow economy as a new engine for economic development by making good use of its rich ice and snow tourism resources while actively promoting winter sports. He added that Heilongjiang Province sets an example of integrating sports with cultural and tourism development, which is inspiring to Hong Kong.

    Noting that Hong Kong and Heilongjiang share close economic and trade ties, with Hong Kong being the largest source of external investment for Heilongjiang, Mr Lee said that Hong Kong, as a “super connector” and “super value-adder”, can serve the Mainland in exploring global markets.

    Regarding people-to-people exchanges, Mr Lee highlighted that the Individual Visit Scheme has been extended to include Harbin in Heilongjiang Province since May last year, while direct flights between Harbin and Hong Kong were officially launched in June last year. These developments have strengthened tourism co-operation between the two places and promoted people-to-people bonds. The Beijing Office and Liaoning Liaison Unit of the Hong Kong Special Administrative Region Government will continue to serve as a bridge to enhance exchanges between Hong Kong and Heilongjiang in various areas, he added.

    Mr Lee also went to the athletes’ village to visit the Hong Kong ice hockey players who were injured yesterday (February 9) after the match, to understand their condition and offer his support. Mr Lee said he is highly concerned about the attack on Hong Kong athletes and has requested the Sports Federation and Olympic Committee of Hong Kong, China, and the Culture, Sports, and Tourism Bureau to follow up on the incident and make every effort to ensure the safety of athletes. Mr Lee noted that the Hong Kong athletes had remained calm and restrained during the incident, demonstrating professionalism and sportsmanship. He also praised the ice hockey team for their outstanding performance in the past competitions, making Hong Kong people proud. He encouraged the athletes not to let the incident affect their morale, to take good care of themselves, and to give their best in the games, showcasing the professionalism of Hong Kong athletes. He also assured them that the people of Hong Kong would fully support them.

    At noon, Mr Lee met with Hong Kong people working and doing business in the three northeastern provinces to learn about their daily lives and development. He said that Hong Kong people and enterprises there serve as an essential bridge between Hong Kong and the three provinces. He encouraged them to introduce Hong Kong’s latest developments to local enterprises and tell the good stories of Hong Kong.

    In the afternoon, Mr Lee visited the Beidahuang Museum in Harbin to understand the transformation of the Great Northern Wilderness, a plain region in northeastern Heilongjiang Province, from a barren wilderness into a key commodity grain base and a strategic grain reserve base of the country. He also gained insights into the Beidahuang Spirit, which embodies perseverance, resilience, and a pioneering mindset.

    Separately, the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, had a work meeting with the Director-General of the Department of Culture and Tourism of Heilongjiang Province, Ms He Jing, this afternoon. They had discussions on ways to strengthen cultural and tourism collaborations between Hong Kong and Heilongjiang. During the meeting, Miss Law gave a briefing on the latest developments in Hong Kong’s culture and tourism. She said that the cultural and tourism resources of Hong Kong and Heilongjiang are unique in their own ways. While Hong Kong, as a world city, is always innovating in integrating culture and tourism, Heilongjiang is famous for its magnificent ice and snow attractions. With significant potential for collaboration between the two places, Miss Law expressed hope to expand the market and drive bilateral tourism flow with Heilongjiang in the future.

    Mr Lee and the other officials will return to Hong Kong tomorrow (February 11).

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by SITI at Tech Applied Summit organised by ASTRI (English only) (with photo)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Tech Applied Summit organised by the Hong Kong Applied Science and Technology Research Institute (ASTRI) today (February 10):Sunny (Board Chairman of ASTRI, Mr Sunny Lee), 劉副市長 (Deputy Mayor of the Suzhou Municipal People’s Government, Professor Liu Bo), 葉部長 (Deputy Director-General of the Department of Educational, Scientific and Technological Affairs of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Mr Ye Shuiqiu), distinguished speakers and guests, ladies and gentlemen,      Good morning. It’s my pleasure to stand before you today at the Tech Applied Summit, a truly remarkable convergence of talents, ideas, and innovation.      First and foremost, I would like to extend my heartfelt gratitude to ASTRI for organising this event, bringing together more than 40 visionary speakers and 1 000 attendees from across the globe. To our distinguished speakers who have travelled from afar, a very warm welcome to Hong Kong. We are thrilled to have you here, and look forward to the insights you’ll share, which will no doubt inspire us all.     Innovation and technology, I&T in short, are not merely buzzwords – they are the lifeblood of Hong Kong’s future. As outlined in the Chief Executive’s latest Policy Address, we are investing ambitiously to ensure I&T serves as the engine for high-quality development in Hong Kong. New initiatives, such as the HK$10 billion Innovation and Technology Industry-Oriented Fund, the HK$180 million I&T Accelerator Pilot Scheme and the new round of HK$1.5 billion Research Matching Grant Scheme, are empowering start-ups, researchers, and businesses to transform bold ideas into transformative realities. These efforts are cementing Hong Kong’s position as a leading innovation powerhouse in the region.     Our investments extend beyond funding. We invest in talent, infrastructure, and partnerships. We are opening doors for the world’s brightest minds to call Hong Kong home, while nurturing local talent to lead in fields like AI, robotics, life and health technology, and advance manufacturing.      Today, as we gather under the banner of I&T, we are reminded of the power of collaboration. In Hong Kong, the close partnership among government, industry, academia, research and investment sectors forms the cornerstone of our strategy to unlock new opportunities and drive progress, and our partnerships extend far beyond our borders.     The potential for Hong Kong-Mainland collaboration is indeed immense. ASTRI has played a pivotal role in fostering this collaboration. With the opening of its office in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone last year, ASTRI has been instrumental in transforming ideas into impactful solutions that benefit businesses, society, and the economy.      This year is particularly special as ASTRI celebrates its silver jubilee – 25 years of excellence, dedication, and leadership in I&T. Well done to everyone at ASTRI who has been part of this incredible journey.     The Government earlier proposed the merger of ASTRI and NAMI (the Nano and Advanced Materials Institute), a combination of two strong public R&D (research and development) centres with complementary advantages and shared values, thereby enhancing our capability and capacity for high value-added applied R&D work. We are eager to unleash the integrated power of the new entity and jointly accelerate the development of new quality productive forces.      As we usher in the Year of the Snake, a year symbolising wisdom, transformation, and resilience, I wish you all an auspicious and prosperous year ahead. Let us work towards a smarter, more connected and innovative world. Thank you.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Nations: Committee on Economic, Social and Cultural Rights Opens Seventy-Seventh Session

    Source: United Nations – Geneva

    The Committee on Economic, Social and Cultural Rights today opened its seventy-seventh session.  The Committee adopted its agenda and programme of work for the session, during which it is scheduled to review the reports of Croatia, Peru, Philippines, Rwanda and the United Kingdom.

    Opening the session, Wan-Hea Lee, Chief of the Civil, Political, Economic, Social and Cultural Rights and Urgent Actions Section, Human Rights Treaties Branch, Human Rights Council and Treaties Mechanisms Division, United Nations Office of the High Commissioner for Human Rights, welcomed the five new members of the Committee: Lazhari Bouzid (Algeria), Peijie Chen (China), Charafat El Yedri Afailal (Morocco), Giuseppe Palmisano (Italy) and Laura Elisa Pérez (Mexico).

    Despite the liquidity situation currently facing the United Nations, Ms. Lee said, the first sessions of all the treaty bodies this year would be held, allowing the important work undertaken by these bodies to proceed.  The Office of the High Commissioner for Human Rights and the United Nations more broadly had and would continue to do its utmost to ensure that their work could proceed to the maximum extent possible. 

    Ms. Lee reported that, at the upcoming fifty-eighth session of the Human Rights Council, a number of key panel discussions and interactive dialogues would be held that were of great relevance to economic, social and cultural rights, and the Council would also consider several reports related to the Committee’s mandate, including the Secretary-General’s report on the realisation of economic, social and cultural rights and the report of the intersessional workshop on cultural rights and the protection of cultural heritage.  She was sure that the work of the Committee would guide some of these discussions.

    In 2024, Ms. Lee said, significant efforts had been made to enhance indigenous peoples’ participation in human rights processes.  A second intersessional meeting held in October 2024 explored ways to strengthen indigenous peoples’ involvement in United Nations processes.  Indigenous peoples’ representatives also addressed the fifty-seventh session of the Human Rights Council in September 2024 for the first time as direct representatives of their communities and organizations.  Resolution 57/15 of October 2024 would facilitate the engagement of indigenous peoples with the treaty bodies going forward. These developments were especially timely given this year’s celebration of the sixtieth anniversary of the International Convention on the Elimination of All Forms of Racial Discrimination.

    Ms. Lee noted that two new instruments of accession were deposited at the end of the year.  St Kitts and Nevis became the one hundred and seventy-third State Party to the International Covenant on Economic, Social and Cultural Rights, and Côte d’Ivoire became the thirtieth State party to its Optional Protocol.  While welcoming the continued march toward universal ratification, the Office of the High Commissioner was mindful of current events and modern challenges which were regrettably affecting the enjoyment of economic, social and cultural rights across the globe.  The High Commissioner, in a recent statement, noted the widespread pushback on multilateralism and how the challenges faced in 2024 were unlikely to let up in 2025, as conflicts continued and reemerged.

    The High Commissioner had been consistently urging States to commit to the global pursuit of a human rights economy, Ms. Lee said.  In a comment to the Social Forum in October 2024, he stressed that States needed to build inclusive human rights economies that prioritised people and planet.  Addressing the Hernan Santa Cruz Dialogue in December last year, the High Commissioner highlighted the substantial transformation necessary in economic systems to ensure the delivery of economic, social and cultural rights to all peoples around the world.  He said the world could not be based on a model that offered health for some, wealth for some, jobs for some, and rights for some.

    Last year was particularly challenging, Ms. Lee said. In addition to chronic resource constraints, the liquidity crisis had and continued to hamper the planning and implementation of the Committees’ work.  The Office was doing its utmost to ensure that the treaty bodies could implement their mandates.  Nevertheless, all indications pointed to a continuation of the difficult liquidity situation for the foreseeable future, she said.

    Ms. Lee said the treaty body strengthening process remained active.  It had reached a key moment with the adoption last December of the biennial resolution on the treaty body system by the General Assembly.  The resolution invited the treaty bodies and the Office to continue to work on coordination and predictability in the reporting process with the aim of achieving a regularised schedule for reporting and to increase their efforts to further use digital technologies.  However, the biennial resolution did not endorse certain detailed proposals made by the Chairs and corresponding resources to implement them, such as for an eight-year predictable schedule of reviews.

    The Office of the High Commissioner would continue to work alongside the Chairs and all the treaty body experts to strengthen the treaty body system, using all the opportunities at its disposal to advance this essential work, Ms. Lee said.

    In concluding remarks, Ms. Lee said a heavy programme for the next three weeks was before the Committee.  She commended the Committee’s efforts and work in preparation for such a substantial session and wished it continued success going forward.

    Laura-Maria Craciunean-Tatu, Committee Chair, thanked the Office of the High Commissioner for expressing confidence in the work of the Committee, and its contribution to the continued and heightened protection of economic, social and cultural rights around the world, in the face of today’s evermore complex challenges and setbacks.  The Committee also welcomed the accession by Saint Kitts and Nevis to the Covenant and of Côte d’Ivoire to the Optional Protocol.  The Chair said that the review of the periodic report of Kenya, which was scheduled for this session, had been postponed to a future session.

    Given today’s numerous challenges, Ms. Craciunean-Tatu said, it was clear that the Committee’s work was as important as ever in holding up the importance of human rights frameworks as a tool towards peace and sustainable development.  As such, the principles of equality, indivisibility, interdependence and interrelatedness of all human rights, as well their justiciability, needed to continue to guide the approach of States parties and other stakeholders to addressing the many challenges being faced worldwide.

    Ms. Craciunean-Tatu announced that, during the session, the Committee would work on the draft general comment on economic, social and cultural rights and the environmental dimension of sustainable development.  It would also hold internal discussions on the draft general comment on drug policies and economic, social and cultural rights, the draft general comment on armed conflict and economic, social and cultural rights, and the draft statement on effective and socially just taxation for the realisation of economic, social and cultural rights.

    Further, during the session, Ms. Craciunean-Tatu said, the Committee would adopt lists of issues regarding Cabo Verde, North Macedonia and Turkmenistan.  It would also consider matters related to the Optional Protocol and follow up reports for Serbia and Uzbekistan, as well as proposals regarding individual communications made by its Working Group. Additionally, it would be engaging in an informal meeting with States, as well as in its annual meeting with non-governmental organizations.  It would also engage with the Special Rapporteur on climate change and the Special Rapporteur in the field of cultural rights.

    Since the last session, Ms. Craciunean-Tatu reported, the Committee received the periodic reports of Canada, Ecuador, Slovakia, Egypt, Estonia, Zambia, Paraguay and Uganda, as well the initial report of Guinea Bisau.  The Committee’s concluding observations based on the consideration of reports and the dialogues held in the session would be communicated to the respective States as of Friday, 28 February, and made available publicly on the following Monday, 3 March.

    The Committee’s seventy-seventh session is being held until 28 February 2025.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Webcasts of the meetings of the session can be found here, and meetings summaries can be found here.

    The Committee will next meet in public at 3 p.m. this afternoon to begin its consideration of the second periodic report of Croatia (E/C.12/HRV/2).

     

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

     

     

    CESCR25.001E

    MIL OSI United Nations News –

  • MIL-OSI: FactSet Acquires LiquidityBook

    Source: GlobeNewswire (MIL-OSI)

    Integrating adjacent workflows across the front office to connect the full portfolio life cycle

    Adds technology-forward order management (OMS) and investment book of record (IBOR) capabilities

    NORWALK, Conn., Feb. 10, 2025 (GLOBE NEWSWIRE) — FactSet (NYSE: FDS | NASDAQ: FDS), a global financial digital platform and enterprise solutions provider, today announced the acquisition of LiquidityBook for a gross purchase price of $246.5 million in cash.

    LiquidityBook provides cloud-native trading solutions to hedge fund, asset and wealth management, outsourced trading, and sell-side middle office clients and operates a proprietary FIX network that enables streamlined connectivity to over 200 brokers and order routing to more than 1,600 destinations across 80 markets globally.  

    Over the past year, the two companies partnered to enable a turnkey integration of LiquidityBook’s flagship order management system (OMS) into the FactSet Workstation to seamlessly link adjacent steps in the front office trade workflow, from security research and portfolio construction to order creation and trade execution. The acquisition takes this successful partnership one step further to accelerate FactSet’s mission to connect the front office with the middle office. FactSet’s ability to serve the integrated workflow needs of clients across the portfolio life cycle will be enhanced by combining LiquidityBook’s modern and scalable order management, pre-trade compliance, and investment book of record (IBOR) capabilities with FactSet’s industry-leading investment research, execution management, performance, reporting, and portfolio analytics solutions.

    “This acquisition is further evidence of FactSet’s commitment to streamlining workflows across the entire portfolio life cycle to reduce our clients’ total cost of ownership,” said Rob Robie, Executive Vice President, Head of Institutional Buy Side, FactSet. “Clients want to spend their time on actionable investment decisions, not jumping between disparate research, portfolio management, and trading platforms. Deeper integration of LiquidityBook’s OMS and IBOR into the FactSet Workstation will enable a consolidated front office solution that meets the increasingly sophisticated needs of our clients.”

    Founded in 2005 and headquartered in New York with approximately 70 employees worldwide, LiquidityBook offers a modular platform for the full trading life cycle, enabling multi-asset class portfolio, order, and execution management capabilities. Architected to scale on a cloud-native, multi-tenant foundation, its solutions enable clients to track intraday portfolio holdings, initiate and monitor trade orders, ensure pre-trade and regulatory compliance, manage client/broker commissions, and process post-trade reconciliations through a single code base for every use case.

    “Since inception, LiquidityBook has focused on developing a modular solution on scalable architecture purpose-built to support the most sophisticated multi-asset trading workflows with a distinct advantage over inflexible, refactored legacy systems,” said Kevin Samuel, CEO, LiquidityBook. “We look forward to continuing this mission as part of FactSet to meet the growing workflow needs of clients across the trade life cycle without compromising on functionality.”

    “We are excited to bring two talented teams together to expand on the existing partnership in place,” said Shawn Samuel, CTO, LiquidityBook. “The value proposition of combining our complementary solutions is already client-validated and market-tested. Joining forces now to capitalize on this opportunity is the natural next step to delivering increased value and flexibility to clients.”

    The acquisition closed on February 7, 2025 and was funded by borrowings under FactSet’s existing revolving credit facility. The transaction is expected to be modestly dilutive to FactSet’s fiscal 2025 GAAP and adjusted diluted EPS.

    FactSet’s advisors on the transaction include Citi as financial advisor and Cravath, Swaine & Moore as legal advisor. LiquidityBook’s advisors include IA Global Capital as financial advisor and Curtis, Mallet-Prevost, Colt & Mosle as legal advisor.

    Forward-Looking Statements

    This news release contains forward-looking statements based on management’s current expectations, projections, beliefs and assumptions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

    About FactSet

    FactSet (NYSE:FDS | NASDAQ:FDS) helps the financial community to see more, think bigger, and work better. Our digital platform and enterprise solutions deliver financial data, analytics, and open technology to more than 8,200 global clients, including over 218,000 individual users. Clients across the buy-side and sell-side as well as wealth managers, private equity firms, and corporations achieve more every day with our comprehensive and connected content, flexible next-generation workflow solutions, and client-centric specialized support. As a member of the S&P 500, we are committed to sustainable growth and have been recognized amongst the Best Places to Work in 2023 by Glassdoor as a Glassdoor Employees’ Choice Award winner. Learn more at www.factset.com and follow us on X and LinkedIn.

    About Liquidity Book

    LiquidityBook is a leading provider of cloud-native buy- and sell-side trading solutions and is trusted by many of the industry’s largest and most sophisticated firms. The LiquidityBook platform is easily configurable and enhanced daily with client requests, giving these firms peace of mind that their trading platform will adapt and scale as they grow. A disruptive force in the market for nearly 20 years, the founder-led LiquidityBook backs their platform with unparalleled support and employs a client-centric business model with no hidden fees. For more information, please visit www.liquiditybook.com or contact sales@liquiditybook.com.

    FactSet
    Investor Relations:
    investor_relations@factset.com

    Media Relations:
    Megan Kovach
    +1.512.736.2795
    megan.kovach@factset.com

    The MIL Network –

  • MIL-OSI Europe: Written question – Functioning of the European Schools – E-000433/2025

    Source: European Parliament

    Question for written answer  E-000433/2025
    to the Commission
    Rule 144
    Nikos Pappas (The Left)

    Despite Parliament’s September 2023 resolution on the system of European Schools[1], serious difficulties persist regarding the schools’ governance, management and financing. These issues hinder the functioning of the schools and have negative consequences for the entire school community. The challenges involve legal matters, resources, infrastructure, staff recruitment and aspects related to educational and pedagogical quality. Recently, the Commission and Parliament signed an agreement with a private school in Brussels to address the shortage of places in European Schools. However, this agreement only provides a limited number of spots for English- and French-speaking pupils, thus failing to resolve overcrowding.

    The Commission is therefore asked:

    • 1.Is there a plan to immediately evaluate the current situation of European Schools, determine which of the demands outlined in Parliament’s resolution have been met and take the necessary corrective action, and are there plans to establish agreements with other schools in the Brussels area to alleviate overcrowding and ensure the proper functioning of the schools?
    • 2.Will there be an increase in EU financial contributions to the European Schools system to enhance the level of service provided to the existing European Schools?
    • 3.What is the situation regarding the new facility in Neder-Over-Heembeek, which language sections will be relocated there, and what is the expected completion date?

    Submitted: 30.1.2025

    • [1] European Parliament resolution of 12 September 2023 on the system of European Schools: state of play, challenges and perspectives (OJ C, C/2024/1757, 22.3.2024, ELI: http://data.europa.eu/eli/C/2024/1757/oj).
    Last updated: 10 February 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – The delay in adopting the EU4Health programme – P-000511/2025

    Source: European Parliament

    Priority question for written answer  P-000511/2025
    to the Commission
    Rule 144
    Vytenis Povilas Andriukaitis (S&D)

    Parliament is deeply concerned about the delay in adopting the EU4Health programme, particularly given that other programmes were not affected by the transition to the new Commission. This delay risks jeopardising the vital work of health-focused non-governmental organisations (NGOs), which play a crucial role in promoting public health, countering corporate influence and ensuring the balanced representation of public interests. These organisations are indispensable for ensuring democratic debates and meaningful public engagement of civil society in EU policymaking. The timely launch of operating grants under the EU4Health programme is critical for many NGOs to sustain their efforts in addressing key health challenges, including those related to tobacco, alcohol and unhealthy food and drink. Without this financial support, there is a real risk of undermining the EU’s commitment to health equity and public interest.

    • 1.Could the Commission provide clarity on the reasons for this delay and confirm when the programme will be adopted?
    • 2.Furthermore, what measures is the Commission taking to expedite this process and mitigate the impact on health NGOs in the interim?

    We strongly urge the Commission to prioritise the launch of the EU4Health programme and the operating grants to safeguard the essential contributions of health NGOs to EU democracy and public health.

    Submitted: 5.2.2025

    Last updated: 10 February 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Spain: EIB finances with €15 million Amadix to develop innovative diagnostic tests for early cancer detection

    Source: European Investment Bank

    Amadix

    • Amadix is a Spanish biotech company developing non-invasive blood tests for early detection of several types of cancer before the symptoms appear.
    • The financing is part of the support the EIB is providing to European medtech startups developing cutting-edge medical solutions and contributes to the EIB Group strategic priority of accelerating digitalisation and technological innovation.
    • The operation is supported by InvestEU, an EU programme that aims to unlock over €372 billion in investment by 2027.

    The European Investment Bank (EIB) has signed a €15 million loan with Spanish company Amadix to support development and commercialization of innovative blood tests for early detection of several types of cancer before the appearance of symptoms. The survival rate of certain cancers such as colorectal cancer, can increase significantly if detected at an early stage.

    The EIB financing will support the research, development, and manufacture of Amadix’ products from its leading test, PreveCol, for colorectal cancer diagnosis, to the development of other pipeline products: PancreaDix and DiagnoLung, for pancreatic and lung cancer detection. The loan will also support Amadix´s international expansion plan, the clinical validation of PreveCol in the United States, and stablishing a strong presence of the company in both the European and U.S. markets.

    The Valladolid-based startup is a pioneer in applying Artificial Intelligence (AI) to early cancer detection tests. Their technology is based on an algorithm that combines clinical features identified by AI with the analysis of proteins and miRNAs in plasma for early detection of premalignant lesions. The detection and removal of these lesions can effectively prevent cancer from developing.

    “This loan shows the EIB’s commitment to support innovative European startups developing breakthrough medical solutions. We are delighted to join forces with research intense stratups like Amadix to expand the range of solutions for early detection of cancer, advance Europe’s plan to beat that illness and support the European medtech industry”. said EIB Director of Equity, Growth Capital and Project Finance Alessandro Izzo. 

    The EIB loan is guaranteed by InvestEU, the flagship EU programme to mobilise over €372 billion of additional public and private sector investment to support EU policy goals from 2021 to 2027. The project contributes to Europe’s Beating Cancer Plan and the EIB Group strategic priority of accelerating digitalisation and technological innovation.

    “It is very encouraging to see organizations like the EIB supporting companies like ours contributing to the Europe’s Beating Cancer Plan and supporting our international expansion. It will enable us to bring to the European and US market our disruptive blood tests for early cancer detection. Thanks to the EIB support, more people will have access to innovative solutions such as liquid biopsy to prevent cancer, a leading cause of death worldwide, to live longer and better”, added Rocío Arroyo, Amadix’s founder and CEO.

    The investments associated to the project will generate cutting edge scientific knowledge and retaining European scientific acumen. The project will also contribute to Europe’s competitiveness, boosting the innovative capacity of European based life science industries and businesses.

    Background information

    EIB

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances investments that contribute towards EU policy goals. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

    InvestEU

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.”

    Amadix

    Amadix is a leading molecular diagnostics company focused on liquid biopsy, developing innovative blood tests for early cancer detection. The company´s mission is to extend people´s lives by developing disruptive technologies that can detect tumours years in advance before the symptoms appear.  Amadix´s approach combines molecular data from blood samples with patient’s clinical information, extracted from diagnostic images and electronic medical records. Their technology, based on machine learning algorithms, is designed for use in screening and health prevention programmes, positioning itself as a complementary tool to promote precision medicine and cancer prevention.

    AMADIX (IEU TI)
    EIB finances with €15 million Amadix to develop innovative diagnostic tests for early cancer detection
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    European Commission logo EN
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    MIL OSI Europe News –

  • MIL-OSI United Kingdom: New satellite deal to boost military operations, jobs and growth

    Source: United Kingdom – Executive Government & Departments 3

    Armed forces personnel will have access to the latest space-based imagery for military operations, following a deal signed for a new satellite system, named Oberon.

    • New satellite system to enhance military operations, named ‘Oberon’, will be designed and built in the UK.
    • The £127 million contract with Airbus will support around 200 skilled jobs in Stevenage and Portsmouth, boosting the UK’s space sector and delivering on the government’s Plan for Change. 
    • Oberon will strengthen the UK’s intelligence, reconnaissance and surveillance capabilities. 

    Armed forces personnel will have access to the latest space-based imagery for military operations, following a deal signed for a new satellite system, named Oberon. 

    The £127 million deal with Airbus will support around 200 skilled jobs in Stevenage and Portsmouth, boosting the UK’s space capabilities and delivering on the Government’s Plan for Change. 

    The Oberon satellite system, made up of two Synthetic Aperture Radar (SAR) satellites, will be able to capture day and night-time images of the Earth’s surface, strengthening the UK’s Intelligence, Surveillance, and Reconnaissance (ISR) capabilities. Expected to launch in 2027, Oberon will have advanced imagery sensors, building on the capabilities of Tyche, UK Space Command’s first satellite which successfully launched in August last year.  

    The deal comes as UK Space Command has published the first images captured by Tyche. The images of Heathrow Airport, Sydney, Washington DC, and the California wildfires, demonstrate Tyche’s ability to capture imagery from anywhere on earth when Defence needs it.  

    Both satellites form part of the Ministry of Defence’s space-based Intelligence, Surveillance, and Reconnaissance programme, known as ISTARI, which will deliver a constellation of satellites and supporting ground systems by 2031.  

    These satellites will support military operations, for example by monitoring adversary activities, and contribute to other government tasks, including natural disaster monitoring, the development of mapping information, and tracking the impact of climate change around the world.   

    UK Space Commander, Major General Paul Tedman said:   

    Through UK Space Command, defence is partnering with industry and continuing to invest in advanced and innovative space technologies.

    Oberon, alongside Tyche and other satellites in our ISTARI constellation, will allow us to observe what’s happening on Earth from space at any time and through any weather. This will enable and enhance UK and allied military operations around the world.

    The contract for Oberon was awarded via competitive procurement to Airbus, which worked with Small and Medium-Sized Enterprises across the UK to leverage innovative new technologies for the 400kg satellites. The antennas for the spacecraft will be supplied by Oxford Space Systems, which has developed carbon fibre structures that stow away in very small volumes for launch but spring into shape once in orbit.  

    Oberon will play a key part in securing critical UK skills in the growing global space sector. The aerospace sector added almost £40 billion to the economy last year, a growth of 50% in the last 10 years, and employs tens of thousands of people. The project will also help inform the procurement strategy for future space capability requirements. 

    Space-based intelligence, surveillance and reconnaissance offers unparalleled earth observation, operating over any part of the globe. Constellations of ISR satellites can use different sensors and cameras, allowing focus to move quickly from one area of the world to another. In contrast to conventional cameras, Oberon will use Synthetic Aperture Radar (SAR) to capture imagery in all-weather conditions. 

    Ben Bridge, Airbus Defence and Space UK Chairman, said: 

    Oberon’s satellites will give the UK a much-needed sovereign capability and greatly enhance its space surveillance autonomy.  

    Airbus in the UK has more than 45 years’ experience in the design and build of high-resolution radar satellites and, once in orbit, these spacecraft will play a vital role in keeping our Armed Forces safe around the world.

    Paul Russell, Space team leader at DE&S said:  

    This has been a superb team effort by members of DE&S, Space Command, DSTL and industry.  

    With the award of the Oberon contract, we will deliver the next in a series game changing capabilities to UK Space Command providing the UK military with leading Space Based Synthetic Aperture Radar whilst helping to keep our nation safe and prosperous.  

    We are looking forwards to working with Airbus as our Mission Partner to deliver this important capability together.

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Energy in the spotlight as Benjamin Dousa visits Moldova

    Source: Government of Sweden

    Energy in the spotlight as Benjamin Dousa visits Moldova – Government.se

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    Press release from Ministry for Foreign Affairs

    Published

    On 10–11 February, Minister for International Development Cooperation and Foreign Trade Benjamin Dousa is visiting Moldova to hold discussions about the energy situation following Russia’s Gazprom suspending its gas supplies.

    “Suspending gas supplies is a way for Russia to undermine Moldova’s political and economic stability. This is why it’s important to support Moldova at this critical juncture,” says Mr Dousa.

    During the visit, Mr Dousa will meet with Moldova’s Prime Minister Dorin Recean and Minister of Foreign Affairs Mihai Popșoi. Mr Dousa will also meet with representatives of civil society and the private sector for discussions around energy issues, resilience and Moldova’s path to EU accession.

    Energy is an important component of Sweden’s long-term reform efforts with Moldova. Sweden provides support in areas such as increased access to sustainable energy solutions for agriculture and households in rural areas, as well as the development of district heating systems in the capital Chisinau. This cooperation enables Sweden to contribute to the green transition and to reducing the country’s reliance on Russian energy.

    Swedish support to Moldova

    Sweden provides extensive and long-term bilateral reform support to Moldova that aims to support the country’s path to EU accession. The support focuses on democracy, the rule of law, security, market economy development and the environment and climate. Sweden’s reform cooperation with Moldova is governed by a regional Eastern Europe strategy for the period 2021–2027, comprising a total of SEK 6.6 billion for the whole region. In 2023, Sweden’s development assistance to Moldova totalled over SEK 520 million, which included a support package to the energy sector worth SEK 300 million.

    Press contact

    MIL OSI Europe News –