Category: Energy

MIL-OSI: Enlight Secures Financing for Spain’s Largest Hybrid Renewable Energy Project
Source: GlobeNewswire (MIL-OSI)
- Enlight expands its successful Gecama Wind Project, transforming it into the largest hybrid power complex of its kind in Spain
- The project combines wind, solar, and utility-scale battery storage to deliver clean electricity around the clock
- The hybrid project, with a total capacity of 554 MW and 220 MWh, is expected to generate approximately $100 million in annual revenue
- The project, among the first in Spain to incorporate a utility-scale battery energy storage system, is expected to enhance grid stability following extended blackouts recently experienced in the country
TEL AVIV, Israel, June 03, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading renewable energy platform, today announced the signing of financing agreements totaling approximately $310 million for the Hybridisation of the Gecama Project in Spain. As part of the project, Enlight will integrate a solar array and utility-scale energy storage system at its operational Gecama facility. Gecama is currently the country’s largest wind farm, with a capacity of 329 MW.

The integrated facility, with a total capacity of 554 MW and 220 MWh, will deliver clean electricity around the clock at a competitive cost of generation, yielding high returns. This performance is made possible by combining technologies with complementary generation profiles throughout most of the day, alongside a battery system that enables optimized use of energy resources.

Once completed, the Gecama Hybrid Project is expected to become the largest renewable energy complex of its kind in Spain and to play a key role in advancing storage infrastructure in line with the Spanish national plan to combat climate change and enhance energy supply stability. The need for such energy storage systems is particularly pressing considering the widespread blackouts Spain experienced in April 2025.

Enlight is among the first to deploy utility-scale battery storage at this scale in Spain. The battery system will also support peak shifting – storing electricity when prices are low and discharging during high-demand periods – thereby increasing the project’s profitability. Additionally, it will provide essential grid services such as frequency response, helping stabilize the power system through rapid charge and discharge capabilities.

Subject to the completion of final development milestones, the solar and storage components of the Hybrid Project are expected to reach commercial operation (COD) in the second half of 2026. Their addition is expected to increase the Gecama Project’s annual revenues by $38–40 million and EBITDA by $31–33 million in the first full year of operation. With all three components in full operation, the integrated project is expected to generate annual revenues of $95–105 million and EBITDA of $75–80 million.

The financing transaction of approximately $310 million includes two tranches: covering the refinancing of the Gecama Wind Project and financing for the construction of the Hybrid Project. Both tranches bear a fixed interest rate of ~5.1% and will be fully amortizing by 2045 and 2046, respectively.

After repaying the existing debt and funding necessary reserves and transaction costs, over $150 million of the secured debt will be allocated to the construction of the Hybrid Project, with a total estimated cost of $195–205 million, while the remaining balance will be funded through equity.

The financing is led by the MEAG Infrastructure Debt Transactions team, acting as sole arranger in its capacity as portfolio manager of certain funds and accounts, along with additional institutional co-investors. MEAG is the asset management arm of Munich Re, one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions.

The financing is structured on a merchant basis – which grants the Company full discretion to sell the project’s entire electricity output on the open market, without a long-term Power Purchase Agreement (PPA) – This approach reflects the high level of confidence in Enlight’s management capabilities and the economic potential of the Gecama site.

This model, combined with elevated electricity prices in Europe, has enabled Enlight to generate high returns and recover more than 50% of its equity investment in the wind project within a relatively short period since the facility’s commercial operation in 2022.

Benjamin Hemming, Head of MEAG Illiquid Assets Debt: “We are thrilled to have supported Enlight in this groundbreaking project, which showcases the potential for hybrid renewable energy solutions to transform the way we generate and consume energy. The Gecama Hybridisation Project is a testament to the innovative spirit of our partners and the growing demand for sustainable energy solutions. We are proud to have worked alongside Enlight and other stakeholders to bring this project to life, and we look forward to seeing its impact on Spain’s energy landscape.”

Isil Tanriverdi Versmissen, Head of MEAG Infrastructure Debt: “The Gecama Hybridisation Project is a perfect example of the power of collaboration and innovative financing solutions in driving the transition to a low-carbon economy. We would like to extend our appreciation to Enlight for their vision and leadership in developing this project, and to our deal team for their tireless efforts in bringing this complex transaction to a successful close. As a debt provider, we are committed to supporting projects that make a positive impact on the environment and the communities they serve, and we believe that the Gecama Hybridisation Project will be a landmark example of this commitment in action.”

Gilad Yavetz, CEO of Enlight: “With the financial close at Gecama, Enlight marks another significant milestone in its European activity, by expanding one of its core assets into Spain’s first hybrid complex of its kind. This move is groundbreaking on two levels – establishing the country’s largest renewable energy complex and demonstrating technological leadership through the integration of utility-scale battery storage. The project reflects our Connect & Expand strategy – maximizing the potential of existing interconnection infrastructure to scale projects – reducing investment costs, minimizing risk, lowering the levelized cost of electricity and optimizing financial returns. Gecama Hybrid joins a lineup of mega-projects we are currently advancing as part of a broad growth plan set to unfold during 2025 across Europe, Israel, and the U.S. We are proud to have MEAG as the lead arranger in this transaction, and greatly value their trust, professionalism, and partnership in advancing such an ambitious and impactful project.”

Enlight was supported by reputable advisors in the transaction. BNP Paribas acted as the sole financial advisor and DLA Piper as the Legal advisor in the transaction.

MEAG was supported by Linklaters acting as the lenders’ legal advisor and by G-Advisory and Hartford Steam Boiler acting as technical advisors to the lenders

*Enlight indirectly holds approximately 72% of the Gecama Project through its subsidiary, with the remaining interest held by several Israeli institutional investors.

About Enlight

Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023. Learn more at www.enlightenergy.co.il.

Investor Contact
Yonah Weisz
Director IR
investors@enlightenergy.co.il

Erica Mannion or Mike Funari
Sapphire Investor Relations, LLC
+1 617 542 6180
investors@enlightenergy.co.il

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, the impact of tariffs on the cost of construction and our ability to mitigate such impact, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

The MIL Network –
June 4, 2025
MIL-OSI United Kingdom: Hinkley Point B power station: Have your say on permit changes
Source: United Kingdom – Government Statements

Press release

Hinkley Point B power station: Have your say on permit changes

EDF Energy wants to change its existing radioactive substances environmental permit for the Hinkley Point B power station in Bridgwater, Somerset.
EDF Energy wants to change its permit now that certain radioisotopes are no longer produced.

EDF Energy Nuclear Generation Ltd has applied to the Environment Agency to make changes to parts of its radioactive substances environmental permit.

Proposed permit changes would more accurately reflect the reducing radiological hazard and risks from Hinkley Point B.

The consultation will close on 1 July 2025.

The Environment Agency is consulting on these specific permit application changes to give people the opportunity to understand the proposed changes and have their say on future decision making.

The permit controls the receipt and disposal of radioactive waste and imposes conditions and limits on radioactive discharges to the environment.

Hinkley Point B’s advanced gas cooled reactors stopped generating power after 46 years in August 2022. It is currently in the defueling stage and working towards ‘Fuel Free Status’ before entering decommissioning.

Sally Coble, the Environment Agency’s Nuclear Regulation Group south manager, said:

We have been working with EDF Energy on its application to vary parts of the environmental permit.

The company is proposing to remove some radionuclide limits in its permit because certain radioisotopes are no longer produced. The proposed changes would more accurately reflect the reducing radiological hazard and risks from Hinkley Point B

Our consultation is now open. We are encouraging people to learn more about the proposed changes and provide us with any information that they think is relevant to decision making.

How to have your say

The Environment Agency will carefully consider all the relevant feedback received during the consultation, together with existing information. Our decision will be available on the public register by September 2025.

Our engagement with the community around the Hinkley site will continue through our own ‘Meet the Regulator’ meeting, the site stakeholder group and Hinkley C’s community forum.

The application and other supporting documents are available for you to view on Citizen Space.

The consultation starts on Tuesday 3 June 2025 and closes on Tuesday 1 July 2025.

Read about regulating Hinkley.

Background

Hinkley Point B power station began generating power in 1976 using two Advanced Gas Cooled Reactors (AGR). During its lifetime it provided enough electricity to meet the need of every home in the UK for almost 3 years.

One of the reactors (Reactor 4) was declared Fuel Free in September 2024 and it is anticipated that the remaining reactor (Reactor 3) will be declared fuel free by the end of 2025.

Now the reactors are no longer operational and following defueling, certain radioisotopes are no longer produced. To reflect the current activities, EDF has applied to remove some radionuclide limits in its environmental permit.

The proposed changes to the environmental permit would more accurately reflect the reducing radiological hazard and risks from Hinkley Point B and align with the current lifecycle stage.

Share this page

The following links open in a new tab

Share on Facebook (opens in new tab)

Share on Twitter (opens in new tab)

Updates to this page

Published 3 June 2025
MIL OSI United Kingdom –
June 4, 2025

MIL-OSI: Greenbacker delivers first quarter results

Source: GlobeNewswire (MIL-OSI)

Company announces year-over-year increases in IPP revenue, power production, and generation capacity in its operating fleet, as well as construction milestones on largest solar project in New York

Key Takeaways

Against a backdrop of trade policy driven volatility, Greenbacker’s proactive approach to tariff risk management delivered $19 million cost savings on 1 GW solar module order.
Company continued construction on largest solar project in New York State to date; the 674 MW Cider solar farm—also GREC’s largest to date—is expected to reach commercial operation in late 2026, generating 1 billion kWh of power in first year of operation.
Wind and solar PPA revenue increased 17% year-over-year to $39 million, driving total first-quarter operating revenue of $48 million.
Power production increased 14% across combined wind and solar fleets, year-over-year, generating 676 million kWh of power in the first quarter.
Operating fleet expanded 3% year-over-year, representing 41 MW of additional total generation capacity, as Company brought online over a dozen new assets.
Greenbacker’s assets contributed to a more resilient U.S. clean energy system, delivering homegrown power, driving decarbonization, and supporting the domestic economy.

NEW YORK, June 03, 2025 (GLOBE NEWSWIRE) — Greenbacker Renewable Energy Company LLC (“Greenbacker,” “GREC,” or the “Company”), an energy transition-focused investment manager and independent power producer (“IPP”), has announced financial results for the first quarter of 2025, including year-over-year increases in revenue, operating capacity, and clean energy generation.¹

Greenbacker’s proactive approach to tariff risk management delivered $19 million cost savings

Greenbacker’s proactive approach to managing exposure to tariff risk continued to deliver measurable results for investors. In late 2024, the Company’s procurement team secured a 1 gigawatt (“GW”) order with one of the world’s largest suppliers of solar modules for use in the construction of assets across its sustainable infrastructure portfolio—including the 674 MW Cider solar farm, Greenbacker’s largest clean energy project to date. As part of the agreement, Greenbacker was able to lock in its access to 1 GW of panels while limiting or eliminating risk on future tariff exposure.

This forward-looking contract structure when procuring over 960,000 solar modules proved its value through the first quarter of 2025, as financial markets and the energy transition asset class experienced increased volatility driven by uncertainty around the Trump administration’s tariff regime.²

As of March 31, 2025, the contract generated approximately $19 million in cost savings for Greenbacker, helping to protect returns by ensuring predictable pricing for a substantial volume of critical solar equipment.

“Greenbacker and other clean energy industry participants have been successfully navigating the evolving trade landscape for over a decade,” said Dan de Boer, Greenbacker’s interim CEO. “The steps we’ve taken to mitigate tariff-related risk across our portfolio deliver results, protect returns, and add stability to our investment platform. This disciplined approach is a core part of how we create long-term value for our investors.”

Company continued construction on 674 MW Cider solar project, projected to be largest solar farm in New York State when completed in 2026

After breaking ground on early construction activity late last year, Greenbacker’s utility-scale Cider project continued major construction activities in Genesee County, NY. When complete, Cider is expected to be the largest solar energy project in New York State, where Greenbacker is headquartered.

This phase of construction centers on key civil and mechanical activities, such as beginning installation of steel pilings and solar module racking systems. Additional phases of construction are expected to ramp up by mid-summer, including installation of electrical wiring and high-voltage utility interconnection infrastructure.

Over its operational lifespan, Cider is expected to generate approximately $100 million in revenue for local communities through property taxes, host community agreements, and tax benefits—funds that can be used to support critical services and infrastructure, including first responders, area roadways, and local schools. Cider’s construction is expected to support hundreds of clean energy jobs, driving both immediate and long-term economic impact across the region.

Cider is slated to enter commercial operation in late 2026 and is expected to generate approximately 1 billion kWh of power in its first full year of operation. The project plans to utilize agrivoltaics (dual land use combining photovoltaic production with agricultural practices) as part of a more cost-effective, nature-based approach to vegetation management. Cider will initially host rotational sheep grazing on over 300 acres, with the potential to increase grazing acreage across the project’s operational lifetime.

Wind and solar PPA revenue increased 17% year-over-year to $39 million, driving total operating revenue of $48 million; wind and solar power production increased 14%

Greenbacker generated total operating revenue of $47.5 million within its IPP segment during the first quarter of 2025, reflecting strong performance from the Company’s core operating fleet. This was driven by an increase in revenue from Greenbacker’s long-term power purchase agreements (“PPAs”) across both its wind and solar fleets, which together generated $38.8 million—a 17% increase compared to the same period last year, or an additional $5.8 million of revenue.

First-quarter net loss attributable to Greenbacker in 2025 was $(15.6) million and Adjusted EBTIDA³ was $14.4 million, representing year-over-year changes of 84% and 56%, respectively. The net loss reflected impairment charges resulting from deteriorating macroeconomic conditions, as well as depreciation and amortization, partially offset by a decrease in other operating expenses.

While total operating revenue represented a 3% year-over-year decline—primarily due to the timing of Renewable Energy Credit (“REC”) revenue recognition in the first quarter of 2024 and the divestment of a non-core asset in April 2024—the underlying power production of Greenbacker’s core fleet remained strong. Notably, the non-core divestiture was a key driver of the Company’s year-over-year increase in Adjusted EBITDA.

On a year-over-year basis, GREC increased its operating fleet size by 3%, as of the end of the first quarter of 2025, resulting in a 41 MW increase in total operating power production capacity.⁴ This included placing over a dozen new solar energy assets into commercial operation. In total, GREC’s operating solar and wind portfolios delivered a combined year-over-year power production increase of 14%,⁵ generating over 676 million kWh of clean energy in the quarter—enough to power approximately 63,000 average U.S. homes for one year.⁶


GREC Operating Fleet	1Q25	1Q24	YoY Increase (total)	YoY Increase (%)
Clean power produced by solar assets (MWh)	307,154	266,339	40,815	15%
PPA revenue generated by solar assets ($M)	$ 18.0	$15.3	$2.6	17%
Clean power produced by wind assets (MWh)	368,957	325,406	43,551	13%
PPA revenue generated by wind assets ($M)	$ 20.8	$17.7	$3.1	18%
Total clean power generated by wind and solar assets (MWh)	676,111	591,745	84,366	14%
Total PPA operating revenue generated by wind and solar assets ($M)	$ 38.8	$33.0	$5.8	17%

Some figures may not add to stated totals due to rounding. Total clean power generated does not include power generated from the non-core biomass facility during first quarter of 2024, which GREC divested in April 2024, nor does it include assets in which the Company holds a preferred equity position.

Long-term contracted cash flows with investment-grade counterparties

As of March 31, 2025, approximately 93% of Greenbacker’s portfolio of assets⁷ were contracted to sell power to investment-grade counterparties across the most resilient parts of the U.S. economy—including utilities, municipalities, and corporations—under long-term PPAs. The portfolio had approximately 17.3 years of contracted, highly visible cash flows associated with these PPAs, providing a solid foundation to build additional future revenue streams.

As of March 31, 2025, the Greenbacker operating fleet represented approximately 1.6 gigawatts of total clean power generation and storage capacity, spanning over 30 states, territories, districts and provinces.

Building a more resilient clean energy future by delivering homegrown power, driving decarbonization, and supporting the domestic economy

As of March 31, 2025, Greenbacker’s portfolio of energy assets had cumulatively produced more than 12 million MWh of power.⁸ This clean energy has abated over 8 million metric tons of carbon⁹ and conserved more than 8 billion gallons of water.¹⁰

Greenbacker’s business operations have driven more than $170 million in spending with U.S.-based manufacturers and suppliers in that period, directly supporting American industry and strengthening domestic supply chains, while advancing homegrown energy deployment.

To date, Greenbacker’s fleet of operating and pre-operating projects currently support, or are expected to support, thousands of green energy jobs.¹¹

Additional information regarding the Company’s impact can also be found in Greenbacker’s impact report.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.

Private placements are speculative.
For financial professionals and their accredited investors only. Not for inspection by, distribution to, or quotation to the general public. There are material risks associated with investing in alternative investments including financing risks, general economic risks, long hold periods, and potential loss of the entire investment principal. Potential cash flow, returns, and appreciation are not guaranteed. The shares offered are illiquid assets for which there is not expected to be any secondary market, nor is it expected that any will develop in the future. The ability to transfer shares is limited. Pursuant to the LLC Agreement, GREC has the discretion under certain circumstances to prohibit transfers of shares, or to refuse to consent to the admission of a transferee as a member. Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Greenbacker Capital Management LLC and WealthForge Securities, LLC are separate entities.

Non-GAAP Financial Measures
In addition to evaluating the Company’s performance on a U.S. GAAP basis, the Company utilizes certain non-GAAP financial measures to analyze the operating performance of our segments as well as our consolidated business. Each of these measures should not be considered in isolation from or as superior to or as a substitute for other financial measures determined in accordance with U.S. GAAP, such as net income (loss) or operating income (loss). The Company uses these non-GAAP financial measures to supplement its U.S. GAAP results in order to provide a more complete understanding of the factors and trends affecting its operations.

Adjusted EBITDA
Adjusted EBITDA is a non-GAAP financial measure that the Company uses as a performance measure, as well as for internal planning purposes. We believe that Adjusted EBITDA is useful to management and investors in providing a measure of core financial performance adjusted to allow for comparisons of results of operations across reporting periods on a consistent basis, as it includes adjustments relating to items that are not indicative on the ongoing operating performance of the business.

Adjusted EBITDA is a performance measure used by management that is not calculated in accordance with U.S. GAAP. Adjusted EBITDA should not be considered in isolation from or as superior to or as a substitute for net income (loss), operating income (loss) or any other measure of financial performance calculated in accordance with U.S. GAAP. Additionally, our calculations of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.

Funds From Operations (FFO)
FFO is a non-GAAP financial measure that the Company uses as a performance measure to analyze net earnings from operations without the effects of certain non-recurring items that are not indicative of the ongoing operating performance of the business. FFO is calculated using Adjusted EBITDA less the impact of interest expense (excluding the non-cash component) and distributions to tax equity investors under the financing facilities associated with our IPP segment.

The Company believes that the analysis and presentation of FFO will enhance our investor’s understanding of the ongoing performance of our operating business. The Company considers FFO, in addition to other GAAP and non-GAAP measures, in assessing operating performance and as a proxy for growth in distribution coverage over the long term.

FFO should not be considered in isolation from or as a superior to or as a substitute for net income (loss), operating income (loss) or any other measure of financial performance calculated in accordance with U.S. GAAP.

General Disclosure
This information has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, or to participate in any trading or investment strategy. The information presented herein may involve Greenbacker’s views, estimates, assumptions, facts, and information from other sources that are believed to be accurate and reliable and are, as of the date this information is presented, subject to change without notice.


GREENBACKER RENEWABLE ENERGY COMPANY LLC AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)

	March 31, 2025			December 31, 2024
	(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	103,237		$	120,057
Restricted cash, current	31,949			38,403
Accounts receivable, net	28,033			27,103
Derivative assets, current	16,064			17,632
Other current assets	26,418			28,586
Total current assets	205,701			231,781
Noncurrent assets:
Restricted cash	2,131			3,128
Property, plant and equipment, net	2,280,196			2,232,486
Intangible assets, net	351,065			362,352
Investments, at fair value	75,196			74,136
Derivative assets	80,953			98,495
Other noncurrent assets	240,587			242,667
Total noncurrent assets	3,030,128			3,013,264
Total assets	$	3,235,829		$	3,245,045
Liabilities, Redeemable Noncontrolling Interests and Equity
Current liabilities:
Accounts payable and accrued expenses	$	107,394		$	69,464
Contingent consideration, current	14,675			15,293
Current portion of long-term debt	85,969			88,901
Current portion of failed sale-leaseback financing and deferred ITC gain	45,868			45,868
Other current liabilities	8,034			8,767
Total current liabilities	261,940			228,293
Noncurrent liabilities:
Long-term debt, net of current portion	1,025,804			1,001,654
Failed sale-leaseback financing and deferred ITC gain, net of current portion	195,933			201,601
Deferred tax liabilities, net	24,495			35,316
Operating lease liabilities	195,090			196,911
Out-of-market contracts, net	170,749			180,640
Other noncurrent liabilities	62,005			59,561
Total noncurrent liabilities	1,674,076			1,675,683
Total liabilities	$	1,936,016		$	1,903,976
Commitments and contingencies (Note 13. Commitments and Contingencies)
Redeemable noncontrolling interests	$	1,851		$	1,851
Equity:
Preferred shares, par value, $0.001 per share, 50,000 authorized; none issued and outstanding	—			—
Common shares, par value, $0.001 per share, 350,000 authorized, 199,176 and 199,326 outstanding as of 2025 and 2024, respectively	199			199
Additional paid-in capital	1,774,330			1,773,758
Accumulated deficit	(600,317		)	(584,733		)
Accumulated other comprehensive income	33,690			34,937
Noncontrolling interests	90,060			115,057
Total equity	1,297,962			1,339,218
Total liabilities, redeemable noncontrolling interests and equity	$	3,235,829		$	3,245,045

GREENBACKER RENEWABLE ENERGY COMPANY LLC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(in thousands, except per share data)

	Three months ended March 31,
	2025			2024
Revenue
Energy revenue	$	43,980		$	44,569
Investment Management revenue	3,260			3,931
Other revenue	301			668
Contract amortization, net	2,921			(2,615		)
Total net revenue	$	50,462		$	46,553

Operating expenses
Direct operating costs	23,911			26,990
General and administrative	17,046			18,855
Change in fair value of contingent consideration	—			493
Depreciation, amortization and accretion	21,628			20,485
Impairment of long-lived assets, net and project termination costs	13,665			6,328
Total operating expenses	76,250			73,151

Operating loss	(25,788		)	(26,598		)

Interest expense, net	(36,566		)	(4,250		)
Change in fair value of investments, net	990			(566		)
Income from sale-leaseback transfer of tax benefits	10,188			—
Other expense, net	148			125

Loss before income taxes	(51,028		)	(31,289		)
Benefit (expense) from income taxes	10,374			(3,064		)
Net loss	$	(40,654	)	$	(34,353	)
Less: Net loss attributable to noncontrolling interests and redeemable noncontrolling interests	(25,068		)	(25,874		)
Net loss attributable to Greenbacker Renewable Energy Company LLC	$	(15,586	)	$	(8,479	)

Earnings per share
Basic	$	(0.08	)	$	(0.04	)
Diluted	$	(0.08	)	$	(0.04	)

Weighted average shares outstanding
Basic	199,333			198,856
Diluted	199,333			198,856

GREENBACKER RENEWABLE ENERGY COMPANY LLC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(in thousands)

	Three months ended March 31,
	2025			2024
Cash Flows from Operating Activities
Net loss	$	(40,654	)	$	(34,353	)
Adjustments to reconcile Net loss to Net cash (used in) provided by operating activities:
Depreciation, amortization and accretion	18,707			23,100
Impairment of long-lived assets, net	12,665			6,328
Share-based compensation expense	3,469			4,806
Changes in fair value of contingent consideration	—			493
Amortization of financing costs and debt discounts	2,963			1,661
Amortization of interest rate swap contracts	(1,693		)	4
Change in fair value of interest rate swaps, net	21,741			(9,944		)
Gain on interest rate swaps, net	—			(1,410		)
Change in fair value of investments	(990		)	566
Deferred income taxes	(10,374		)	3,064
Interest expense on failed sale-leaseback financing and deferred ITC gain	4,519			4,269
Income from sale-leaseback transfer of tax benefits	(10,188		)	—
Other	1,235			980
Changes in operating assets and liabilities:
Accounts receivable	(930		)	(826		)
Current and noncurrent derivative assets	—			51,269
Other current and noncurrent assets	1,085			2,988
Accounts payable and accrued expenses	(8,875		)	(8,227		)
Operating lease liabilities	(1,771		)	(714		)
Other current and noncurrent liabilities	(541		)	(243		)
Net cash (used in) provided by operating activities	(9,632		)	43,811
Cash Flows from Investing Activities
Purchases of property, plant and equipment	(28,564		)	(55,294		)
Net deposits returned (paid) for property, plant and equipment	(390		)	1,314
Other investing activities	(70		)	(45		)
Net cash used in investing activities	(29,024		)	(54,025		)
Cash Flows from Financing Activities
Shareholder distributions	—			(22,361		)
Repurchases of common shares	(341		)	(390		)
Deferred shareholder servicing fees	(739		)	(795		)
Contributions from noncontrolling interests	2,132			1,005
Distributions to noncontrolling interests	(5,071		)	(3,240		)
Proceeds from borrowings	58,731			50,920
Payments on borrowings	(40,054		)	(84,381		)
Proceeds from failed sale-leaseback	—			111,453
Payments on failed sale-leaseback	—			(25,080		)
Payments for loan origination costs	(273		)	(1,257		)
Net cash provided by financing activities	14,385			25,874
Net (decrease) increase in Cash, cash equivalents and Restricted cash	(24,271		)	15,660
Cash, cash equivalents and Restricted cash at beginning of period	161,588			187,675
Cash, cash equivalents and Restricted cash at end of period	$	137,317		$	203,335

Non-GAAP Reconciliations

Adjusted EBITDA

Adjusted EBITDA is a non-GAAP financial measure that the Company uses as a performance measure as well as for internal planning purposes. We believe that Adjusted EBITDA is useful to management and investors in providing a measure of core financial performance adjusted to allow for comparisons of results of operations across reporting periods on a consistent basis as it includes adjustments relating to items that are not indicative of the ongoing operating performance of the business.

The Company defines Adjusted EBITDA as net income (loss) before: (i) interest expense; (ii) income taxes; (iii) depreciation expense; (iv) amortization expense (including contract amortization); (v) accretion; (vi) impairment of long-lived assets; (vii) amounts attributable to our redeemable and non-redeemable noncontrolling interests; (viii) unrealized gains and losses on financial instruments; (ix) gains and losses for asset dispositions; (x) other income (loss); and (xi) foreign currency gain (loss). Additionally, the Company further adjusts for the following items described below:

Share-based compensation is excluded from Adjusted EBITDA as it is different from other forms of compensation as it is a non-cash expense and is highly variable. For example, a cash salary generally has a fixed and unvarying cash cost. In contrast, the expense associated with an equity-based award is generally unrelated to the amount of cash ultimately received by the employee, and the cost to the Company is based on a share-based compensation valuation methodology and underlying assumptions that may vary over time;

The change in fair value of contingent consideration, which is related to the Acquisition, is excluded from Adjusted EBITDA, if any such change occurs during the period. The non-cash, mark-to-market adjustments are based on the expected achievement of revenue targets that are difficult to forecast and can be variable, making comparisons across historical and future quarters difficult to evaluate;

Start-up costs associated with new investment strategies is excluded from Adjusted EBITDA. The Company evaluates new investment strategies on a regular basis and excludes start-up cost from Adjusted EBITDA until such time as a new strategy is determined to form part of the Company’s core investment management business.

Placement fees, including internal sales commissions, related to fundraising efforts based on the capital raised, are excluded from Adjusted EBITDA. By excluding these fundraising-related fees from Adjusted EBITDA, we focus on core operational performance, separate from capital raising efforts, which might vary significantly from period to period.

Other costs that are not consistently occurring, not reflective of expected future operating expense and provide no insight into the fundamentals of current or past operations of our business are excluded from Adjusted EBITDA. This includes costs such as professional services and legal fees, and other non-recurring costs unrelated to the ongoing operations of the Company.

FFO

FFO is a non-GAAP financial measure that the Company uses as a performance measure to analyze net earnings from operations without the effects of certain non-recurring items that are not indicative of the ongoing operating performance of the business.

FFO is calculated using Adjusted EBITDA less the impact of interest expense (excluding the non-cash component) and distributions to Tax Equity Investors under the financing facilities associated with our IPP segment. The Company excludes these distributions as these are not recorded within Adjusted EBITDA and is therefore not a component of our earnings from operations.

The Company believes that the analysis and presentation of FFO will enhance our investors’ understanding of the ongoing performance of our operating business. The Company considers FFO, in addition to other GAAP and non-GAAP measures, in assessing operating performance and as a proxy for growth in distribution coverage over the long-term.

Adjusted EBITDA and FFO should not be considered in isolation from or as a superior to or as a substitute for net income (loss), operating income (loss) or any other measure of financial performance calculated in accordance with U.S. GAAP.

The following table reconciles Net loss attributable to Greenbacker Renewable Energy Company LLC to Adjusted EBITDA and FFO:


	Three months ended March 31,
(in thousands)	2025			2024
Net loss attributable to Greenbacker Renewable Energy Company LLC	$	(15,586	)	$	(8,479	)
Add back or deduct the following:
Net loss attributable to noncontrolling interests and redeemable noncontrolling interests	(25,068		)	(25,874		)
Benefit (expense) from income taxes	(10,374		)	3,064
Interest expense, net	36,566			4,250
Depreciation, amortization and accretion⁽¹⁾	18,804			23,235
EBITDA	$	4,342		$	(3,804	)
Share-based compensation expense	3,469			4,806
Change in fair value of contingent consideration	—			493
Change in fair value of investments, net	(990		)	566
Income from sale-leaseback transfer of tax benefits	(10,188		)	—
Other expense, net	(148		)	(125		)
Loss on asset disposition	13			—
Impairment of long-lived assets, net and project termination costs	13,665			6,328
Non-recurring professional services and legal fees	1,689			578
Non-recurring salaries and personnel related expenses⁽²⁾	2,596			393
Adjusted EBITDA	$	14,448		$	9,235
Cash portion of interest expense	(9,408		)	(8,349		)
Distributions to tax equity investors	(3,811		)	(3,277		)
FFO	$	1,229		$	(2,391	)

(1) Includes contract amortization, net in the amount of $2.9 million and $(2.6) million for the three months ended March 31, 2025 and 2024, respectively, which are included in Contract amortization, net on the Consolidated Statements of Operations; also includes certain other amortization costs included in Direct operating costs and General and administrative on the Consolidated Statements of Operations.

(2) Non-recurring salaries and personnel related expenses include start-up costs which primarily include salaries and personnel related expenses of incremental employees hired in advance to launch new investment strategy initiatives. Given the nature and scale of the related costs and activities, management does not view these as normal, recurring operating expenses, but rather as non-recurring investments to initially develop our new funds. Therefore, we believe it is useful and necessary for investors to understand our core operating performance in current and future periods by excluding the impact of these start-up costs as incurred. Non-recurring salaries and personnel related expenses also include placement fees, including internal sales commission.

The following table reconciles total Segment Adjusted EBITDA to Net loss attributable to Greenbacker Renewable Energy Company LLC:


	For the three months ended March 31,
(in thousands)	2025			2024
Segment Adjusted EBITDA:
IPP Adjusted EBITDA	$	22,515		$	17,291
IM Adjusted EBITDA	(689		)	(1,160		)
Total Segment Adjusted EBITDA	$	21,826		$	16,131

Reconciliation:
Total Segment Adjusted EBITDA	$	21,826		$	16,131
Unallocated corporate expenses	(7,378		)	(6,896		)
Total Adjusted EBITDA	$	14,448		$	9,235

Less:
Share-based compensation expense	3,469			4,806
Change in fair value of contingent consideration	—			493
Loss on asset disposition	13			—
Impairment of long-lived assets, net and project termination costs	13,665			6,328
Depreciation, amortization and accretion⁽¹⁾	18,804			23,235
Non-recurring professional services and legal fees	1,689			578
Non-recurring salaries and personnel related expenses⁽²⁾	2,596			393
Operating loss	$	(25,788	)	$	(26,598	)

Interest expense, net	(36,566		)	(4,250		)
Change in fair value of investments, net	990			(566		)
Income from sale-leaseback transfer of tax benefits	10,188			—
Other expense, net	148			125
Loss before income taxes	$	(51,028	)	$	(31,289	)

Benefit from (provision for) income taxes	10,374			(3,064		)
Net loss	$	(40,654	)	$	(34,353	)

Less: Net loss attributable to noncontrolling interests and redeemable noncontrolling interests	(25,068		)	(25,874		)
Net loss attributable to Greenbacker Renewable Energy Company LLC	$	(15,586	)	$	(8,479	)

(1) Includes contract amortization, net in the amount of $2.9 million and $(2.6) million for the three months ended March 31, 2025 and 2024, respectively, which are included in Contract amortization, net on the Consolidated Statements of Operations; also includes certain other amortization costs included in Direct operating costs and General and administrative on the Consolidated Statements of Operations.

(2) Non-recurring salaries and personnel related expenses include start-up costs which primarily include salaries and personnel related expenses of incremental employees hired in advance to launch new investment strategy initiatives. Given the nature and scale of the related costs and activities, management does not view these as normal, recurring operating expenses, but rather as non-recurring investments to initially develop our new funds. Therefore, we believe it is useful and necessary for investors to understand our core operating performance in current and future periods by excluding the impact of these start-up costs as incurred. Non-recurring salaries and personnel related expenses also include placement fees, including internal sales commission.

About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability sustainable infrastructure company that both acquires and manages income-producing renewable energy and other energy-related businesses, including solar and wind farms, and provides investment management services to other renewable energy investment vehicles. We seek to acquire and operate high-quality projects that sell clean power under long-term contracts to high-creditworthy counterparties such as utilities, municipalities, and corporations. We are long-term owner-operators, who strive to be good stewards of the land and responsible members of the communities in which we operate. Greenbacker conducts its investment management business through its wholly owned subsidiary, Greenbacker Capital Management, LLC, an SEC-registered investment adviser. We believe our focus on power production and asset management creates value that we can then pass on to our shareholders—while facilitating the transition toward a clean energy future. For more information, please visit https://greenbackercapital.com.

About Greenbacker Capital Management
Greenbacker Capital Management LLC is an SEC registered investment adviser that provides advisory and oversight services related to project development, acquisition, and operations in the renewable energy, energy efficiency, and sustainability industries. For more information, please visit www.greenbackercapital.com.

Greenbacker media contact
Chris Larson
Media Communications
646.569.9532
c.larson@greenbackercapital.com

_______________________________

¹ The financial and portfolio metrics set forth herein are unaudited and subject to change. Data as of March 31, 2025. Total assets and megawatts statistics include those projects where we have contracted for the acquisition of the project pursuant to a Membership Interest Purchase Agreement (“MIPA”).
²S&P 500 Suffers Worst Month Since 2022—Despite Monday Recovery, Forbes, March 2025.
³ Adjusted EBITDA is a non-GAAP financial measure that the Company uses as a performance measure, as well as for internal planning purposes. We believe that Adjusted EBITDA is useful to management and investors in providing a measure of core financial performance adjusted to allow for comparisons of results of operations across reporting periods on a consistent basis, as it includes adjustments relating to items that are not indicative on the ongoing operating performance of the business. See “Non-GAAP Financial Measures” for additional discussion. Adjusted EBITDA is unaudited. See the Company’s 10-Q filed with the SEC for additional financial information and important related disclosures.
⁴ Data as of March 31, 2025. Total assets and megawatts statistics include those projects where we have contracted for the acquisition of the project pursuant to a Membership Interest Purchase Agreement (“MIPA”). The financial and portfolio metrics set forth herein are unaudited and subject to change
⁵ Does not include power generated from biomass facility during first quarter of 2024, and also does not include assets in which the Company holds a preferred equity position
⁶ Based on the U.S. Energy Information Administration’s estimate that the average annual amount of electricity used by a U.S. residential electric-utility customer is 10,791 kilowatt-hours (kWh).
⁷ Includes both operating and pre-operating clean energy projects within the GREC portfolio.
⁸ Since January 2016.
⁹ Data is as of March 31, 2025. When compared with a similar amount of power generation from fossil fuels. Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the Avoided Emissions and generation Tool (AVERT) US national weighted average CO₂ marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions.
¹⁰ Data is as of March 31, 2025. Water saved by Greenbacker’s clean energy projects is compared to the amount of water needed to produce the same amount of power by burning coal. Gallons of water saved are calculated based on Operational water consumption and withdrawal factors for electricity generating technologies: a review of existing literature – IOPscience, J Macknick et al 2012 Environ. Res. Lett. 7 045802.
¹¹ Data is as of March 31, 2025. Green jobs calculated using The National Renewable Energy Laboratory (NREL) State Clean Energy Employment Projection Support, nrel.gov.

The MIL Network –

June 3, 2025

MIL-OSI Europe: Answer to a written question – Energy taxation rules – E-001180/2025(ASW)
Source: European Parliament
The green taxation reform is a key element of Cyprus’ recovery and resilience plan[1]. It aims to internalise environmental externalities, encouraging more efficient use of resources and incentivising the adoption of renewable energy.

This is crucial in Cyprus where carbon prices and municipal waste recycling lag behind the rest of Europe, and water scarcity is a challenge.

The green taxation reform includes a carbon tax, which constitutes a transition towards the Emissions Trading System applicable from 2027 to buildings and road transport, a levy on water and a charge on landfill waste, both of which will be incrementally increased.

As regards the taxation of motor and heating fuels, and of electricity, in the recent Action Plan for Affordable Energy and Clean Industrial Deal[2], the Commission has reiterated its call on Member States to complete the revision[3] of the current Energy Taxation Directive.

This is a recognition of the crucial role that the revision can play in promoting affordable energy and clean industry. As communicated in the action plan for Affordable Energy, the Commission will issue a recommendation to Member States by the end of 2025.

This will be taken forward in line with the present Directive[4], which allows decreasing taxes for electricity consumed by households and energy intensive industries.

In addition to structural and cohesion funds, the Social Climate Fund aims to support a fair transition towards climate neutrality. It will provide Member States with dedicated funding so that the most affected vulnerable groups can be directly supported.

[1] https://commission.europa.eu/business-economy-euro/economic-recovery/recovery-and-resilience-facility/country-pages/cyprus-recovery-and-resilience-plan_en.

[2] COM(2025) 79 final and COM(2025) 85 final of 26.02.2025.

[3] COM(2021) 563 final of 14.07.2021.

[4] Council Directive 2003/96/EC of 27 October 2003.
Last updated: 3 June 2025
MIL OSI Europe News –
June 3, 2025
MIL-OSI: Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., to Acquire Sitio Royalties Corp. in All-Equity Transaction; Increases Base Dividend
Source: GlobeNewswire (MIL-OSI)

MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), and Sitio Royalties Corp. (NYSE:STR) (“Sitio”) today announced that they have entered into a definitive agreement under which Viper will acquire Sitio in an all-equity transaction valued at approximately $4.1 billion, including Sitio’s net debt of approximately $1.1 billion as of March 31, 2025. The consideration will consist of 0.4855 shares of Class A common stock of a new holding company (“pro forma Viper”) for each share of Sitio Class A common stock, and 0.4855 units of Viper’s operating subsidiary, Viper Energy Partners LLC, for each unit of Sitio’s operating subsidiary (along with a corresponding amount of Class B common stock of pro forma Viper for each share of Sitio Class C common stock), representing an implied value to each Sitio stockholder of $19.41 per share based on the closing price of Viper common stock on June 2, 2025. The transaction was unanimously approved by the Board of Directors of each company and has been approved by the written consent of Diamondback as Viper’s majority stockholder. Stockholders holding an aggregate of approximately 48% of Sitio’s outstanding voting power, including Kimmeridge, its largest stockholder, have agreed to vote in favor of the transaction. The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2025.

The Company today also announced that the Board of Directors of Viper approved a 10% increase to its base dividend to $1.32 per share annually ($0.33 per share quarterly).

STRATEGIC RATIONALE
- Size and Scale: Adds substantial scale and inventory depth that will support pro forma Viper’s durable production profile and free cash flow growth over the next decade
- Meaningful Financial Accretion and Higher Cash Returns: Expected to be approximately 8 – 10% accretive to cash available for distribution per Class A share immediately upon closing
- Lower Breakeven: Lowers pro forma Viper’s base dividend breakeven by approximately $2 per barrel to <$20 WTI; increased base dividend of $1.32/share represents approximately 45% of cash available for distribution at $50 WTI
- Significant Synergies: Estimated to be in excess of $50 million annually, primarily attributable to general and administrative and cost of capital savings
- Access to Capital: Pro forma Viper is expected to maintain its Investment Grade status; pro forma leverage expected to be approximately 1.2x at closing at strip pricing and decreasing thereafter; near-term net debt target of $1.5 billion which equates to less than 1.0x leverage at $60 WTI
- Diamondback Relationship: Diamondback is expected to own approximately 41% of pro forma Viper’s outstanding common stock after closing and will continue to drive meaningful long-term oil production growth from the Company’s acreage
SITIO HIGHLIGHTS
- Approximately 25,300 net royalty acres in the Permian Basin, plus an additional ~9,000 net royalty acres in other major basins (DJ, Eagle Ford, Williston); total acreage of approximately 34,300 net royalty acres
- Roughly 50% overlap with existing Viper gross producing horizontal wells in the Permian Basin
- Q1 2025 average production of 18.9 mbo/d (42.1 mboe/d); Q1 2025 average Permian production of 14.5 mbo/d (31.9 mboe/d)
- Approximately 16.1 existing net DUCs and permits with an average lateral length of ~9,500 feet
PRO FORMA HIGHLIGHTS
- Approximately 85,700 net royalty acres in the Permian Basin; ~43% operated by Diamondback
- Pro forma Viper owns an average 1.8% NRI in approximately 33,300 gross producing horizontal wells (~608 net wells)
- Approximately 75.4 existing net DUCs and permits with an average lateral length of ~10,800 feet; Diamondback is the largest operator of these net locations with 41.1 DUCs and permits with an average lateral length of ~12,400 feet
- Estimated Q4 2025 average production of 64 – 68 mbo/d (122 – 130 mboe/d); expect full year 2026 average production to increase by a mid-single digit percentage from these levels assuming current commodity prices, line of sight trajectory, and industry activity levels
“The combination of Viper and Sitio signifies an important moment for mineral and royalty interests,” stated Kaes Van’t Hof, Chief Executive Officer of Viper. “This combination creates a leader in size, scale, float, liquidity and access to investment grade capital in the highly fragmented minerals industry. Pro forma Viper is now clearly a must-own public mineral and royalty company in North America, with attractive size and scale in the Permian Basin. This transaction positions Viper to compete for capital with mid and large cap North American E&Ps; except with higher margins, minimal operating costs, and the lowest dividend breakeven in the space.”

Mr. Van’t Hof continued, “While this transaction will reduce Diamondback’s ownership in pro forma Viper to 41%, it does not reduce the significance of the relationship between Diamondback and Viper. The Diamondback drillbit remains Viper’s biggest competitive advantage and the most visible source of long-term production growth at Viper. Mineral interests offer the highest form of security and upside in the oil field, and any and all benefits an operator manages to unlock accrues directly to the mineral holder without any capital risk, forever.”

“We are excited to announce the combination of two leading minerals companies with a shared strategic vision of integrating the highest quality assets to create a truly differentiated investment opportunity for shareholders,” said Sitio CEO Chris Conoscenti. “This transaction provides Sitio’s shareholders with exposure to an entity with significantly greater size, future development visibility, and all of the benefits of the economies of scale unique to the minerals business – higher margins, lower cost of capital, strong positioning for future M&A opportunities, and the ability to return more capital to shareholders. I want to thank all of the Sitio team members, whose innovation and relentless pursuit of continuous improvement made building Sitio such an amazing and rewarding experience.”

“This transaction is the next logical step in Sitio’s evolution,” stated Noam Lockshin, Chairman of the Sitio Board of Directors. “By adding Sitio’s coverage of the Delaware Basin to Viper’s position in the Midland Basin, the combined company will be well positioned in the Permian for years to come.”

Advisors

Moelis & Company LLC is serving as financial advisor to Viper and Wachtell, Lipton, Rosen & Katz is serving as its legal advisor.

J.P. Morgan Securities LLC is serving as exclusive financial advisor to Sitio and Vinson & Elkins LLP is serving as its legal advisor.

Conference Call

Viper will host a conference call and webcast for investors and analysts to discuss this transaction on Tuesday, June 3, 2025 at 7:00 a.m. CT. Access to the webcast, and replay which will be available following the call, may be found here. The live webcast of the conference call will also be available via Viper’s website at www.viperenergy.com under the “Investor Relations” section of the site.

About Viper Energy, Inc.

Viper is a corporation formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin. For more information, please visit www.viperenergy.com.

About Diamondback Energy, Inc.

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

About Sitio Royalties Corp.

Sitio is a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to stockholders and reinvested, Sitio has accumulated approximately 34,300 net royalty acres through the consummation of over 200 acquisitions, as of March 31, 2025. More information about Sitio is available at www.sitio.com.

Forward-Looking Statements

This communication relates to a proposed business combination transaction (the “Mergers”) between Viper and Sitio and the information included herein includes forward-looking statements within the meaning of the federal securities laws, which involve certain risks, uncertainties and assumptions that could cause the results to differ materially from such statements. All statements, other than historical facts, that address activities that Viper or Sitio assumes, plans, expects, believes, intends or anticipates (and other similar expressions) will, should or may occur in the future, or statements regarding the proposed Mergers, the likelihood that the conditions to the consummation of the Mergers will be satisfied on a timely basis or at all, Viper’s and Sitio’s ability to consummate the Mergers at any time or at all, the benefits of the Mergers and the post-combination company’s future financial performance following the Mergers, the post-combination company’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management, are forward-looking statements. When used herein, the words “may,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions and the negative of such words and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. The forward-looking statements are based on Viper’s and Sitio’s management’s current beliefs, based on currently available information, as to the outcome and timing of future events.

Factors that could cause the outcomes to differ materially include (but are not limited to) the following: the risk associated with Sitio’s ability to obtain the approvals of its stockholders required to consummate the Mergers; risks related to the timing of the closing of the Mergers, including the risk that the conditions to the Mergers are not satisfied on a timely basis or at all or the failure of the Mergers to close for any other reason or to close on the anticipated terms, including the anticipated tax treatment; the risk that any regulatory approval, consent or authorization that may be required for the Mergers is not obtained or is obtained subject to conditions that are not anticipated; the post-combination company’s ability to successfully integrate Sitio’s and Viper’s businesses and technologies; the risk that the expected benefits and synergies of the Mergers may not be fully achieved in a timely manner, or at all; the risk that Sitio or Viper will not, or that following the Mergers, the post-combination company will not, be able to retain and hire key personnel; unanticipated difficulties or expenditures relating to the Mergers, the response of business partners and retention as a result of the announcement and pendency of the Mergers; Viper’s ability to finance the combined company on acceptable terms or at all; uncertainty as to the long-term value of the post-combination company’s common stock; the diversion of Sitio’s and Viper’s management’s time on transaction-related matters; and those risks described in Viper’s periodic filings with the U.S. Securities and Exchange Commission (“SEC”), including in Item 1A of Viper’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 26, 2025, subsequent Forms 10-Q and 8-K and other filings Viper makes with the SEC, which can be obtained free of charge on the SEC’s website at http://www.sec.gov and Viper’s website at www.viperenergy.com/investors/overview, and in Sitio’s periodic filings with the SEC, including in Item 1A of Sitio’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 26, 2025, subsequent Forms 10-Q and 8-K and other filings Sitio makes with the SEC, which can be obtained free of charge on the SEC’s website at http://www.sec.gov and Sitio’s website at investors.sitio.com.

In light of these factors, the events anticipated by Viper’s and Sitio’s forward-looking statements may not occur at the time anticipated or at all. Moreover, Viper and Sitio conduct their businesses in a very competitive and rapidly changing environment and new risks emerge from time to time. Viper and Sitio cannot predict all risks, nor can they assess the impact of all factors on their businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements they may make. Accordingly, you should not place undue reliance on any forward-looking statements. All forward-looking statements speak only as of the date of this communication or, if earlier, as of the date they were made. Viper and Sitio do not intend to, and disclaim any obligation to, update or revise any forward-looking statements unless required by applicable law.

Additional Information and Where to Find It

In connection with the Merger, New Cobra Pubco, Inc. (“New Parent”) will file with the SEC a registration statement on Form S-4, which will include a proxy statement of Sitio, an information statement of Viper and a prospectus of New Parent. The Mergers will be submitted to Sitio’s stockholders for their consideration. Viper, Sitio and New Parent may also file other documents with the SEC regarding the Mergers. After the registration statement has been declared effective by the SEC, a definitive joint information statement/proxy statement/prospectus will be mailed to the stockholders of Viper and Sitio. This communication is not a substitute for the registration statement and joint information statement/proxy statement/prospectus that will be filed with the SEC or any other documents that Viper, Sitio or New Parent may file with the SEC or send to stockholders of Viper or Sitio in connection with the Mergers. INVESTORS AND STOCKHOLDERS OF SITIO AND VIPER ARE URGED TO READ THE REGISTRATION STATEMENT AND JOINT INFORMATION STATEMENT/PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ALL OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS AND RELATED MATTERS.

Investors and stockholders will be able to obtain free copies of the registration statement and the joint information statement/proxy statement/prospectus (when available) and all other documents filed or that will be filed with the SEC by Viper, Sitio or New Parent, through the website maintained by the SEC at http://www.sec.gov.

Participants in the Solicitation

Viper, Sitio, New Parent and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Sitio stockholders in connection with the Mergers.

Information regarding the directors and executive officers of Viper, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Viper’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, including under the headings “Proposal 1: Election of Directors”, “Executive Officers”, “Compensation Discussion and Analysis”, “Compensation Tables”, “Stock Ownership” and “Certain Relationships and Related Party Transactions,” which was filed with the SEC on April 10, 2025 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1602065/000119312525077960/d884560ddef14a.htm, To the extent holdings of Viper’s securities by its directors or executive officers have changed since the amounts set forth in Viper’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, such changes have been or will be reflected on Initial Statement of Beneficial Ownership of Securities on Form 3, Statement of Changes in Beneficial Ownership on Form 4, or Annual Statement of Changes in Beneficial Ownership on Form 5 filed with the SEC, which are available at EDGAR Search Results https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001602065&type=&dateb=&owner=only&count=40&search_text=.

Information regarding the directors and executive officers of Sitio, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth (i) in Sitio’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, including under the headings “Proposal 1 – Election of Directors”, “Executive Officers”, “Security Ownership of Certain Beneficial Owners and Management”, “Certain Relationships and Interested Transactions”, “Compensation Discussion and Analysis”, “Summary Compensation Table” and “2024 Director Compensation”, which was filed with the SEC on March 28, 2025 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1949543/000162828025015343/str-20250328.htm. To the extent holdings of Sitio’s securities by its directors or executive officers have changed since the amounts set forth in Sitio’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, such changes have been or will be reflected on Initial Statement of Beneficial Ownership of Securities on Form 3, Statement of Changes in Beneficial Ownership on Form 4, or Annual Statement of Changes in Beneficial Ownership on Form 5 filed with the SEC, which are available at EDGAR Search Results https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1949543&type=&dateb=&owner=only&count=40&search_text=.

Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint information statement/proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents through the website maintained by the SEC at http://www.sec.gov.

No Offer or Solicitation

This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, pursuant to the Mergers or otherwise, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Non-GAAP Financial Measures

Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. Viper defines Adjusted EBITDA as net income (loss) attributable to Viper Energy, Inc. plus net income (loss) attributable to non-controlling interest (“net income (loss)”) before interest expense, net, non-cash stock-based compensation expense, depletion expense, non-cash (gain) loss on derivative instruments, and instruments, (gain) loss on extinguishment of debt, if any, other non-cash operating expenses, other non-recurring expenses and provision for (benefit from) income taxes, if any. Management believes Adjusted EBITDA is useful because it allows it to more effectively evaluate Viper’s operating performance and compare the results of its operations from period to period without regard to its financing methods or capital structure. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income, royalty income, cash flow from operating activities or any other measure of financial performance or liquidity presented as determined in accordance with GAAP. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDA. Viper defines cash available for distribution generally as an amount equal to its Adjusted EBITDA for the applicable quarter less cash needed for income taxes payable, debt service, contractual obligations and fixed charges and reserves for future operating or capital needs that the Board may deem appropriate, lease bonus income, net of tax, dividend equivalent rights payments and preferred dividends, if any. Management believes cash available for distribution is useful because it allows them to more effectively evaluate Viper’s operating performance excluding the impact of non-cash financial items and short-term changes in working capital. Viper defines free cash flow margin as cash flow from operations less capital expenditures divided by total barrels of oil equivalents. Viper defines cash margins as unhedged realized price per Boe less production and ad valorem taxes, cash G&A, and interest expense divided by unhedged realized price. Viper defines pre-tax income attributable to Viper as income (loss) before income taxes less net income (loss) attributable to non-controlling interest. Viper believes this measure is useful to investors given it provides the basis for income taxes payable by Viper, which is an adjustment to reconcile Adjusted EBITDA to cash available for distribution to Viper’s shareholders. Viper defines net debt as debt (excluding debt issuance costs, discounts and premiums) less cash and cash equivalents. Net debt should not be considered an alternative to, or more meaningful than, total debt, the most directly comparable GAAP measure. Management uses net debt to determine Viper’s outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. Viper believes this metric is useful to analysts and investors in determining Viper’s leverage position because Viper has the ability to, and may decide to, use a portion of its cash and cash equivalents to reduce debt. Viper’s computations of Adjusted EBITDA, cash available for distribution, pre-tax income attributable to Viper, free cash flow margins, cash margins, and net debt may not be comparable to other similarly titled measures of other companies or to such measure in its credit facility or any of its other contracts. For a reconciliation of Adjusted EBITDA, cash available for distribution and net debt to the most comparable GAAP measures, please refer to the materials furnished by Viper to the Securities and Exchange Commission.

Furthermore, this communication includes or references certain forward‐looking, non‐GAAP financial measures, such as estimated free cash flow for 2025, distributable cash flow per Class A shareholder for 2025 and certain related estimates regarding future performance, results and financial position. Because Viper provides these measures on a forward‐looking basis, it cannot reliably or reasonably predict certain of the necessary components of the most directly comparable forward‐looking GAAP measures, such as any future impairments and future changes in working capital. Accordingly, Viper is unable to present a quantitative reconciliation of such forward‐looking, non‐GAAP financial measures to the respective most directly comparable forward‐looking GAAP financial measures. The unavailable information could have a significant impact on our ultimate results. However, Viper believes these forward‐looking, non‐GAAP measures may be a useful tool for the investment community in comparing Viper’s forecasted financial performance to the forecasted financial performance of other companies in the industry.

Oil and Gas Reserves

The SEC generally permits oil and gas companies, in filings made with the SEC, to disclose proved reserves, which are reserve estimates that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions, and certain probable and possible reserves that meet the SEC’s definitions for such terms. Viper discloses only estimated proved reserves in its filings with the SEC. Viper’s estimated proved reserves as of December 31, 2024 contained in this communication were prepared by Viper’s internal reservoir engineers and audited by Ryder Scott Company, L.P., an independent petroleum engineering firm, and comply with definitions promulgated by the SEC. Additional information on Viper’s estimated proved reserves is contained in Viper’s filings with the SEC. In this communication, Viper may use the terms “resources,” “resource potential” or “potential resources,” which the SEC guidelines prohibit Viper from including in filings with the SEC. “Resources,” “resource potential” or “potential resources” refer to Viper’s internal estimates of hydrocarbon quantities that may be potentially discovered through exploratory drilling or recovered with additional drilling or recovery techniques. Such terms do not constitute reserves within the meaning of the Society of Petroleum Engineer’s Petroleum Resource Management System or SEC rules and do not include any proved reserves. Actual quantities that may be ultimately recovered by the operators of Viper’s properties will differ substantially. Factors affecting ultimate recovery include the scope of the operators’ ongoing drilling programs, which will be directly affected by the availability of capital, drilling and production costs, availability of drilling services and equipment, drilling results, lease expirations, transportation constraints, regulatory approvals and other factors; and actual drilling results, including geological and mechanical factors affecting recovery rates. Estimates of potential resources may change significantly as development of our properties by our operators provide additional data. In addition, our production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production, decline rates from existing wells and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price declines or drilling cost increases.

Investor Contact

Viper Energy:
Chip Seale
+1 432.247.6218
cseale@viperenergy.com

Sitio Royalties:
Alyssa Stephens
+1 281.407.5204
IR@sitio.com

Source: Viper Energy, Inc.; Diamondback Energy, Inc.

The MIL Network –
June 3, 2025

MIL-OSI United Kingdom: First schools install Great British Energy solar panels

Source: United Kingdom – Government Statements

Press release

First schools install Great British Energy solar panels

First 11 schools across England have installed solar panels backed by Great British Energy, saving a total of £175,000 per year.

Schools across the country to install new Great British Energy solar panels thanks to government’s £180 million funding to cut bills for schools and hospitals
11 schools have installed solar panels, saving £175,000 per year
Savings will be reinvested in schools as part of the government’s Plan for Change to fix public services – while providing clean power for pupils and teachers

Pupils across the country will benefit from more money for textbooks and teachers, as the first schools are announced in Great British Energy’s rooftop solar rollout to cut energy bills.

Schools are benefitting from funding for rooftop solar, with the first 11 schools estimated to save £175,000 per year after installing Great British Energy solar panels. The remaining schools set to benefit will be announced this summer, with all schools that are part of the scheme expected to have solar panels installed by the end of the year.

It follows the government’s announcement in March to award £180 million of funding for schools and hospitals to install rooftop solar, marking the first major project for Great British Energy – a company owned by the British people, for the British people.

In England, around £80 million is supporting around 200 schools, alongside £100 million for nearly 200 NHS sites, covering a third of NHS trusts, to install rooftop solar panels that could power classrooms and operations, while giving them the potential to sell leftover energy back to the grid.

Great British Energy’s first investment could see millions invested back into frontline services, targeting deprived areas, with lifetime savings for schools and the NHS of up to £400 million over around 30 years.

Schools and hospitals have been hit with rocketing energy bills in recent years, costing taxpayers millions of pounds, and eating into school budgets. This has been driven by the UK’s dependency on global fossil fuel markets over which government has no control.

Energy Minister Michael Shanks said:

Solar panels on school rooftops mean energy bills are cut and money can be invested directly into improving young people’s education while helping to tackle climate change for the next generation.

Great British Energy is delivering rooftop solar as part of our Plan for Change that will support communities for generations to come, relieving pressures on our vital public services and ensuring investment is made in the future of our young people.

Great British Energy Chair Juergen Maier said:

Within 2 months we are seeing schools supported by our scheme having solar panels installed so they can start reaping the rewards of clean energy – opening up the opportunity for more money to be spent on our children rather than energy bills.

By partnering with the public sector as we scale up the company, we will continue to make an immediate impact as we work to roll out clean, homegrown energy projects, crowd in investment and create job opportunities across the country.

Education Minister Stephen Morgan said:

Through our Plan for Change, this government is supporting schools to save schools thousands on their bills so they can reinvest money saved into ensuring every child gets the best start in life.

The installation of solar panels will also help pupils to develop green skills, promoting careers in renewables and supporting growth in the clean energy workforce.

Currently only about 20% of schools have solar panels installed, but the technology has huge potential to save money on bills.

Estimates suggest that on average, a typical school could save up to £25,000 per year if they had solar panels with complementary technologies installed such as batteries.

The funding will support the government’s clean power mission as well as helping to rebuild the nation’s public services. It forms Great British Energy’s first local investment, kickstarting the Local Power Plan and ensuring the benefits of this national mission are felt at a local level, with energy security, good jobs and economic growth.

Notes to editors

The list of hospitals benefitting was announced in March and installations will start to complete this summer.

Great British Energy Solar: list of hospitals (CSV, 8.76 KB)

The support will target schools with buildings that are able to accommodate solar panels in areas of England most in need. As part of this, government is selecting the schools which will be primarily clustered in areas of deprivation in the North East, West Midlands and North West, as well as at least 10 schools in each region. Each cluster will include a further education college which will work with the contractors appointed to promote careers in renewables to support growth in the construction and renewables workforce. This could be through work placements, skills bootcamps and workshops.

Backed by £8.3 billion over this Parliament, Great British Energy will own and invest in clean energy projects across the UK. This will range from supporting local energy, like the solar power schemes announced today, to the £300 million invested to support offshore wind supply chains – unlocking significant investment in major clean energy projects that will revitalise the UK’s industrial heartlands with new jobs, alongside securing Britain’s energy supply.

11 schools to have installed Great British Energy solar panels

School name	Region	KW peak (installed capacity)	Yearly energy generation (kWh)	Simple payback (years)	Yearly school bill savings (£)
Charles Warren Academy	South East	20	15,000	8	£4,500
Feversham Primary Academy	Yorkshire and the Humber	53	46,270	5	£13,000
Harris Academy Chafford Hundred	East of England	256	214,300	6	£44,500
Harris City Academy Crystal Palace	London	149	117,250	5	£24,500
Notre Dame RC School	South West	166	150,280	5	£27,000
Oasis Academy Nunsthorpe	Yorkshire and the Humber	92	101,695	4	£22,500
St Boniface’s RC College	South West	86	84,620	7	£13,500
St Joseph’s Catholic Primary School, Poole	South West	37	39,880	5	£8,500
St Mary’s Catholic Primary School, Axminster	South West	13	12,200	12	£2,000
Westfield Primary Academy	East of England	56	54,050	6	£12,000
Whiteknights Primary School	South East	18	16,170	8	£4,500
Total		945	851,715		£176,000

Published 3 June 2025

MIL OSI United Kingdom –

June 3, 2025

MIL-OSI Security: Deadline Extended for Call for Papers: Conference on Resilience of Nuclear Installations

Source: International Atomic Energy Agency – IAEA

“The resilience of nuclear installations can be viewed as the ability of the installation to quickly return to its original safety state after the occurrence of a potentially damaging event such as an earthquake, hurricane, or aircraft crash,” said Paolo Contri, Head of the IAEA Section of External Events Safety.

He added: “Resilience is coupled with the concept of robustness against external hazards, which encompasses the development of engineering solutions in siting, design and operation phases, that can support the response to extreme scenarios, but also to emerging challenges, or unknown threats, as well as planning, response and recovery strategies.”

Contributors interested in submitting papers for the conference can find the topics of interest here, which includes areas such as the identification and analysis of external hazards, the consideration of uncertainties in hazard analyses and events resulting from combined hazards; and the impact of external hazards on nuclear installations and radioactive waste disposal facilities as well as the safety features of innovative new reactor designs and their contribution to resilience.

MIL Security OSI –

June 3, 2025
MIL-OSI Russia: More than 640 thousand gas stoves have been checked in Moscow since the beginning of the year

Translation. Region: Russian Federal

Source: Moscow Government – Government of Moscow –

Since the beginning of this year, specialists from the city services complex have checked over 640 thousand gas stoves installed in Muscovites’ apartments. This was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

“Gas safety issues are under special control, we conduct scheduled maintenance of all gasified housing stock in the capital every year. In January-May, we checked the operability and compliance with safety requirements of more than 640 thousand gas stoves, which is over 35 percent of the total number,” noted Petr Biryukov.

Gas workers eliminate minor problems on the spot, and if serious violations are detected, they eliminate safety hazards and provide recommendations for further operation and repair.

In the capital, more than 1.8 million families use gas stoves. In order for the equipment to operate safely, it is very important to check it in a timely manner. Responsibility for maintaining gas equipment in proper condition and replacing it rests with the owner or tenant of the residential premises.

The service life of a gas stove is on average 10-12 years. After that, gas taps wear out, burner diffusers become deformed, and the thermal insulation of the oven is damaged. It is impossible to maintain the safe operation of such devices; replacement is necessary.

The gas stove must be equipped with a gas control system, which stops the gas supply if the flame in the burner goes out.

Information on dates and times of gas equipment inspections is published in advance on the official website JSC Mosgaz, and is also placed on stands installed in entrances and courtyards.

Get the latest news quicklyofficial telegram channel the city of Moscow.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

https: //vv.mos.ru/nevs/ite/154753073/

MIL OSI Russia News –

June 3, 2025
MIL-OSI Africa: African Mining Week (AMW) 2025 to Host Invest in Angola’s Mining Sector Forum

Source: Africa Press Organisation – English (2) – Report:

CAPE TOWN, South Africa, June 3, 2025/APO Group/ —

The African Mining Week (AMW) conference – Africa’s premier event for the mining sector, scheduled for October 1–3, 2025 in Cape Town – will feature a dedicated session titled Invest in Angola’s Mining Sector, sharing insight into the vast investment opportunities across the country’s mineral landscape. The session will showcase the immense, untapped potential of Angola’s diverse mineral resources, providing investors with strategic insights and actionable pathways to capitalize on this burgeoning market.

Rich in a variety of minerals, including diamonds, copper, gold, lithium, rare earths and more, Angola offers significant growth opportunities for mining companies. As such, the Angolan session seeks to unlock these opportunities by connecting stakeholders under the broader event theme: From Extraction to Beneficiation: Unlocking Africa’s Mineral Wealth.

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

In the diamond sector, the session will provide insight into strategic investment opportunities. A global leader in diamond production, Angola already presents a compelling investment case, backed by over 732 million carats of untapped diamond reserves valued at more than $140 billion. The country is pursuing both upstream expansion and downstream beneficiation. Key developments include a new pilot production and processing facility at Luachimba, launched by ENDIAMA – the national diamond company – and ongoing feasibility studies at the Xamacanda site. Global mining firm De Beers is also advancing exploration across eight new diamond project targets. AMW will link these promising projects with global investors and strategic partners, in line with Angola’s ambitions to leverage its diamond wealth for sustainable economic growth.

Beyond diamonds, Angola is making substantial strides in its critical minerals sector as part of its long-term strategy to become a leading exporter of processed critical minerals – essential for the global energy transition. The government has identified 34 critical minerals, with key projects like Pensana’s Longonjo Rare Earth Project driving the market expansion. In March 2025, Pensana secured $268 million in funding to begin phase one of development. The project will enable Angola to supply 5% of the world’s high-grade rare earth carbonate, significantly boosting its role in the global rare earth sector. AMW will make a strong case for Angolan critical minerals, providing a platform where partners, investors and mining corporation can engage and sign deals.

Meanwhile, AMW 2025 will bring together global stakeholders to explore Angola’s copper, lithium and manganese landscape. The country is advancing projects in these industries and new investment would fuel growth even further. China’s Shining Star is set to begin commercial production at its 40-million-ton Mavoio-Tetelo copper project in northern Angola in 2025, while Ivanhoe Mines is undertaking extensive copper exploration. Mining companies Tyranna Resources and ST New Materials are unlocking new frontiers in lithium and manganese, while Rio Tinto is exploring for base metals under an agreement signed in 2024. These efforts underscore increasing international interest in Angola’s critical mineral potential.

MIL OSI Africa –

June 3, 2025
MIL-OSI Russia: Preventive endoscopic examination will help to increase the early detection of oncological diseases of the gastrointestinal tract

Translation. Region: Russian Federal

Source: Moscow Government – Government of Moscow –

A project to prevent oncological diseases of the gastrointestinal tract (GIT) is starting in the capital. It will be carried out in response to the initiative of the Moscow Oncology Society. Its main goal is to identify pathologies and conditions that precede the development of oncological diseases of the gastrointestinal tract. This was reported by Anastasia Rakova, Deputy Mayor of Moscow for Social Development.

Muscovites will be able to undergo free examinations in city clinics and endoscopic centers. For residents who have not undergone endoscopic diagnostics for several years, referrals for self-registration will be opened in the unified medical information and analytical system (EMIAS) automatically.

“Thanks to the development of Moscow medicine – digitalization, systematic professional training of personnel, infrastructure upgrade – we can not only effectively use our available resources, but also implement proactive target programs. We have already achieved high detection rates of oncological diseases, but it is equally important to engage in the prevention of malignant neoplasms. Experts from the Moscow Oncology Society approached us with just such an initiative. Understanding the relevance of this problem, we are launching a pilot project aimed at preventing gastrointestinal oncology. Gastrointestinal diseases develop asymptomatically for a long time and may not manifest themselves for many years. At the same time, clearly understanding the age at which diseases can debut, we suggest that Muscovites do not wait for any symptoms, but undergo a preventive examination for free. It will help not only to identify, but also to cure pathologies that can lead to the development of oncology. The capabilities of Moscow polyclinics and endoscopic centers, on the basis of which the preventive program is launched, allow us to invite Muscovites who have not undergone it in the last few years to a proactive endoscopic examination of the gastrointestinal tract. It is important that the directions for such Muscovites will open in EMIAS automatically. Patients can choose a convenient time and prepare well for the examination,” said Anastasia Rakova.

All procedures are performed using modern equipment, they are as comfortable as possible for patients. Gastroscopy in the clinic is done under local anesthesia, it takes no more than 30 minutes. Gastro- and colonoscopy in the endoscopic center are performed under mild sedation, the total time spent in the medical institution does not exceed two hours. If a pathology is detected, a therapist or general practitioner will promptly contact the patient and prescribe treatment.

Referrals will be automatically opened for two categories of patients who have not undergone gastro and colonoscopy in the last few years. The examination includes rapid testing for Helicobacter pylori.

A new polyclinic will appear in Golovinsky district A new framework for nephrological care has been formed in Moscow — Sergei Sobyanin

A large-scale upgrade of the infrastructure and technical support of medical institutions allows the capital to implement a proactive approach to detecting oncological diseases. Moscow is completing its largest program for the reconstruction of city clinics. All buildings are equipped with the latest generation equipment, including expert-level technology. In total, more than 75 thousand units of medical devices have been delivered to institutions within the framework of the program, including over 30 thousand units of modern technology.

Get the latest news quickly official telegram channel the city of Moscow.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

https: //vv.mos.ru/nevs/ite/154750073/

MIL OSI Russia News –

June 3, 2025
MIL-OSI United Kingdom: Coventry receives record £103 million new government investment in education
Source: City of Coventry

Coventry City Council has recently been awarded a record-breaking £102.8 million in government education funding – the highest basic need allocation of any local authority in England.
The unprecedented investment, announced as part of the government’s basic need funding programme, will be used to expand school capacity and build sustainable education infrastructure through to 2028.

The funding recognises Coventry’s continued growth and success in attracting new families to the city.

Since 2021/22, Coventry has experienced significant increases in pupil numbers, with many families choosing to move to the city throughout the school year, and Coventry already has a good track record of creating additional school places having added in over 1800 primary, secondary and special places since 2017.

The funding will support the delivery of the Coventry One Strategic Plan 2024-2028, which sets out how the council will ensure sufficient school places across primary, secondary and special educational needs provision.

The plan includes the potential development of a new secondary school, planned to open in September 2027, alongside expansions at existing schools.

Councillor Dr Kindy Sandhu, Cabinet Member for Education and Skills, said: “This record investment is testament to Coventry’s success as a thriving, growing city that families want to call home.

“The government has recognised our strategic approach to education planning and our commitment to ensuring every child has access to a high-quality school place.

“This funding will allow us to not only meet the immediate needs of our growing population but to build for the future with sustainable, net-zero school buildings that will serve our community for generations to come.

“We’re particularly proud that this investment will also enhance support for children with special educational needs, ensuring truly inclusive education across Coventry.”

The allocation represents the largest single education capital investment in Coventry’s recent history and will fund:

Expansion of existing primary and secondary schools

Enhanced provision for pupils with Special Educational Needs and Disabilities (SEND)

New school buildings designed to net-zero carbon standards

Energy efficiency improvements across the existing school estate

Since 2016 the number of children with Education, Health and Care Plans nationally has increased significantly, and Coventry has seen a 130% increase during this time.

The new funding will help create approximately 190 additional specialist school places through building projects at Castle Wood, Baginton Fields, Woodfield and Sherbourne Fields Special Schools.

It is intended that all new buildings are designed to meet net-zero operational standards, supporting the government’s target for the education sector to lead on sustainability and climate change by 2030.

The Coventry One Strategic Plan has been developed in partnership with headteachers across the city through the Coventry Education Partnership, ensuring that expansion plans meet the real needs of schools and communities.

Cabinet will consider the strategic plan at its meeting on Tuesday 10 June, following scrutiny by the Co-ordination Committee on Thursday 5 June.
MIL OSI United Kingdom –
June 3, 2025
MIL-OSI: Grow Your IB and Affiliate Business with Axi at the 2025 Money Expo Colombia

Source: GlobeNewswire (MIL-OSI)

SYDNEY, June 03, 2025 (GLOBE NEWSWIRE) — Leading online FX and CFD broker Axi has announced that it will attend this year’s Money Expo Colombia, taking place June 25-26, 2025, in Bogota, Colombia.

Event attendees will have the opportunity to explore how they can grow their IB and Affiliate business. “We invite all traders to visit our booth and connect with our team,” says Santiago Vazquez-Munoz, Regional Head for UK, Europe, and LATAM, before adding, “We look forward to showcasing how our exceptional partnership opportunities can help traders elevate their business. Attendees at the expo will also have access to exclusive deals available only during the event.” Furthermore, attendees will also have the opportunity to learn about Axi Select, Axi’s capital allocation program featuring zero registration or registration fees, capital funding up to $1,000,000 USD, the opportunity to earn up to 90% of the profits, and advanced tools to accelerate traders’ trading potential.

Football enthusiasts can also visit Axi’s booth to get an inside look at the broker’s longstanding partnership with Manchester City, Premier League Champions. Manchester City memorabilia and the club’s mascots will be on-site for photo opportunities, and attendees will have the chance to win exciting prizes from the broker – including signed player shirts and other merchandise.

The broker has a longstanding partnership with Manchester City FC, Girona FC, and Esporte Clube Bahia. In 2023, they also announced England international John Stones as their Brand Ambassador. In 2024, the broker was recognised with the ‘Innovator of the Year’ award at the Dubai Forex Expo, and was honoured by Finance Feeds with the titles of ‘Most Reliable Broker’, ‘Broker of the Year’ and ‘Most Innovative Proprietary Trading Firm’.

Watch video : https://youtu.be/92qBSHsGHMM?si=0pdt_bV7sAdQVOsB

About Axi

Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.

For more information from Axi, please contact: mediaenquiries@axi.com

The Axi Select program is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available to AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees and minimum deposit apply.

The MIL Network –

June 3, 2025
MIL-Evening Report: The Queensland government is cancelling renewable energy projects. Can the state still reach net zero?

Source: The Conversation (Au and NZ) – By Tony Wood, Program Director, Energy, Grattan Institute

Johan Larson/Shutterstock

On the surface, Queensland’s new government is doing exactly what it pledged before winning office in October – repealing the state’s ambitious renewable energy targets and cancelling a huge pumped hydro project near Mackay.

But since the start of the year, the Crisafulli LNP government has gone further, and it’s less clear where it’s heading.

Last week, the government abruptly cancelled the A$1 billion Moonlight Ridge wind farm proposal, citing insufficient consultation and a lack of community support.

At the same time, the government announced it would open another 16,000 square kilometres of the state for gas exploration. The government is also planning to open new gas peaking plants and keep its coal plants open longer.

So, is the Queensland government backsliding on renewables and climate change?

The Crisafulli government is still committed to net zero by 2050. Because Queensland still owns its own transmission infrastructure and power plants, the state could shift to clean energy faster than other states. But at present, they don’t appear to be in a rush.

Many solar farms have already been built in the Sunshine State.
Lakeview Images/Shutterstock

Slowdown under way

Previous Labor governments in Queensland announced plans for large pumped hydro installations as a way to store energy to be available when intermittent wind and solar are not. The largest of these pumped hydro projects was the Pioneer-Burdekin proposal near Mackay, which the government has now canned.

The Crisafulli government has also asked the Queensland Investment Corporation to examine the financial viability of two other major proposals, the Borumba pumped hydro scheme inland from the Sunshine Coast and the Copperstring transmission project linking Townsville and Mount Isa. This isn’t unusual – new governments often review projects announced by their predecessors.

Another recent announcement is drawing stronger criticism, however. In April, the Crisafulli government announced plans to make sure large solar and wind farms have the social licence to operate. This, the government announced, would bring the “same rigorous approval processes as other major developments” to bear on renewables.

If these plans become law, they are likely to make it substantially harder and slower to build large renewables projects.

The cancellation of the Moonlight Ridge wind farm proposal is instructive. Of the 508 individuals who wrote in response to the development, only 142 were local. In his decision, planning minister Jarrod Bleijie noted: “the representations that I received evidence that the project has not acquired overriding community acceptance”.

What’s being proposed looks messy. The peak body for renewables in Queensland is highly sceptical, while miners and farmers have also signalled concern.

But while the Moonlight Ridge cancellation drew headlines, two other wind farm proposals have been approved after being asked to show they had consulted adequately.

No is easy, yes is hard

It’s easy to take office and reject the work of predecessors. It’s far harder to outline what will replace it.

In contrast to other east coast states, Queensland has largely kept control of its sprawling electricity system. The government owns most large coal and gas power plants and all the transmission infrastructure.

While the new government has indicated renewed support for private sector energy investment, it has provided support for government-owned corporations to develop new gas peaker plants. By contrast, there are very few proposals for new gas plants further south.

In one sense, it’s no surprise Queensland’s new government has eased off on renewables. Its coal plants are relatively new, and largely owned by the government. This may reduce the urgency for developing a new energy plan, but only for a few years. Planning for a smooth energy transition is a major task, as demonstrated by southern states.

The state has also profited hugely from gas exported from Gladstone. The government now receives around $1 billion from oil and gas royalties a year.

Go-fast federally, go-slow at state?

The thumping Labor majority at this year’s federal election means, at a national level, work on the clean energy transition will accelerate. But this transition is only possible if state and federal governments coordinate well.

The responsibility for building and maintaining electricity systems in Australia largely falls to the states and territories. But managing large power grids on the east and west coasts requires national-level coordination.

What the federal government can do, by and large, is set a goal and stump up the cash. As former Labor prime minister Paul Keating once quipped, “never get between a state premier and a bucket of money”.

The federal government is running a funding program to support renewable generation and storage projects across the country. Three Queensland renewable projects have been approved under this program, including solar farms with battery storage.

It’s hard to see the state government moving to block these projects.

Where does this leave us?

Queensland is signalling it’s not enthused about having an open gate for new renewable projects. Adding time consuming and expensive new consultation hurdles may cause prospective renewable developers to pack up and head south or west.

Yet the policy’s strategic intent is unclear and is not necessarily against clean energy for the state. Many projects are already under way. The Crisafulli government has shown interest in smaller scale pumped hydro schemes as a way to store energy. And gas peaking plants will be a necessary evil in a high-renewables grid, acting like an emergency diesel generator for the rare periods without enough wind, sun or water.

The big test will come later this year in the form of the state government’s five year energy plan. Will it deliver the investment to meet the net zero objective while maintaining affordable and reliable power? Right now, many in the clean energy industry are taking a wait-and-see attitude.

Tony Wood may own shares through his superannuation in companies impacted by energy sector policies

– ref. The Queensland government is cancelling renewable energy projects. Can the state still reach net zero? – https://theconversation.com/the-queensland-government-is-cancelling-renewable-energy-projects-can-the-state-still-reach-net-zero-257958

MIL OSI Analysis – EveningReport.nz –

June 3, 2025
MIL-OSI USA: Smucker Votes in Favor of One Big Beautiful Bill
Source: United States House of Representatives – Representative Lloyd Smucker (PA-16)

WASHINGTON—Rep. Lloyd Smucker (PA-11) voted in favor of the One Big Beautiful Bill Act. It was approved in the House of Representatives by a vote of 215-214.

“Last November, the American people gave President Trump and the Republican-led Congress a mandate for change. House Republicans today took a critical step to bring the transformative One Big Beautiful Bill closer to final passage. This bill will deliver for the American people by extending tax relief for hardworking families and small businesses, securing our border, unleashing American energy dominance, achieving peace through strength, and critically –making real, measurable reductions in federal spending. This bill secures more savings than any other reconciliation bill in American history – protecting families from both a historic tax hike and the hidden costs of unchecked federal borrowing. Passing this legislation will be a first step in righting our fiscal trajectory and I remain committed to the hard work ahead of addressing our $36 trillion and growing national debt,” said Rep. Lloyd Smucker (PA-11).

Click to watch Rep. Smucker’s comments in support of the measure:

BACKGROUND ON THE ONE BIG, BEAUTIFUL BILL ACT:

Extending Tax Relief for Hardworking Families and Small Businesses, courtesy of the Committee on Ways and Means
- Make permanent the lower tax rates and brackets for all taxpayers, the doubled guaranteed Standard Deduction, and the Child Tax Credit, preventing a $1,700 tax hike on PA-11 taxpayers providing for their families.
- Increase the Child Tax Credit by $500 to combat Bidenflation.
- Raise annual real wages by $2,100 to $3,300 per worker.
- Increase real annual take-home pay for a median-income household with two children by roughly $4,000 to $5,000.
- Provide tax relief for: overtime pay for hourly workers, cut taxes for tipped workers, and provide relief for seniors.
- Expand and make permanent the 199A small business deduction to 23% – creating over 1 million new Main Street small business jobs and generating $750 billion in economic growth at American small businesses.
- Protects family farms from the death tax that would threaten future generations of farmers.
Securing our Border
- Makes significant investments in personnel, resources, and technology to maintain operational control of the border and enforce America’s immigration laws, building on President Trump’s administration’s immediate work to make America safer.
- Hires 18,000 new personnel to enforce America’s immigration laws.
Unleashing American Energy Dominance
- Acts to ramp up American energy production including by cutting bureaucracy and streamlining permitting processes.
- Ends wasteful spending and ineffective energy programs including those in the “Green New Deal.”
Achieving Peace Through Strength
- Invests in America’s arsenal to ensure our selfless servicemen and women continue to be the best equipped fighting force in the world ready to respond to any threat, including targeted investments in improving servicemember quality of life programs.
- Expands naval capabilities, restocking of American munitions, supporting soldier readiness.
- Defends America through the creation of a Golden Dome missile defense system and continued funding of nuclear deterrence programs.
Reductions in Federal Spending
- Changes the way that Washington operates, delivering real reductions in federal spending—nearly $1.7 trillion in estimated mandatory savings.
- Saves hundreds of billions through repeal of provisions in the so-called “Inflation Reduction Act” passed during the Biden administration.
Preserving And Protecting Critical Safety Net Programs and Encouraging Personal Accountability
- Preserves critical programs like Medicaid for those truly in need.
- Roots out waste, fraud, and abuse of federal safety net programs to ensure they remain accessible to those in need.
- Implements and strengthens common sense work requirements for Medicaid and SNAP, ensuring that able bodied unemployed individuals contribute or make efforts to better themselves.
- Ensures states cannot support illegal immigrants through Medicaid.
This legislation is fiscally responsible:
- The $4.12 trillion estimated cost of the legislation is more than fully offset by:
  - Nearly $1.7 trillion in estimated mandatory savings, slowing the rate of growth of future spending.
  - $2.6 trillion in expected revenue resulting from a growing economy.
According to the White House Council of Economic Advisors, the legislation will:
- Boost the level of short-run real GDP by 3.3 to 3.8 percent and long-run real GDP by 2.6 to 3.2 percent.
- Raise annual real wages by $2,100 to $3,300 per worker.
- Increase real annual take-home pay for a median-income household with two children by roughly $4,000 to $5,000.
- Save over 4 million full-time equivalent jobs from being destroyed.
- Facilitate $100 billion of investment in distressed communities.
The legislation contains provisions authored by Rep. Smucker, including:
- Permanent Tax Relief and Certainty for Small Businesses: Permanently increasing and enhancing the small business tax deduction, known as Section 199A of the tax code. Smucker’s Main Street Tax Certainty Act has the support of 187 Members of the House and the legislation has broad support among stakeholders in PA-11 and across the nation.
- Expanded Support for Individuals with Disabilities Using ABLE Accounts: Smucker’s bipartisan ENABLE Act to allow individuals with disabilities and their families to save and invest in tax-advantaged accounts without jeopardizing their eligibility for essential federal support programs like Medicaid and Supplemental Security Income, is included making these tax provisions permanent.
- Improved Access to Primary Care: The Ways and Means Committee’s proposals include Smucker’s Primary Care Enhancement Act, which would clarify provisions of the Internal Revenue Code to remove barriers for individuals with Health Savings Accounts from using those funds to access Direct Primary Care, a health care delivery model which provides high-quality care at lower cost for individuals of all ages and incomes across America.
# # #

MIL OSI USA News –
June 3, 2025
MIL-OSI USA: Alongside Local Leaders, Davids Submits 15 Local Projects for FY26 Federal Funding
Source: United States House of Representatives – Congresswoman Sharice Davids (KS-3)

Projects would improve roads, public safety, water access, and education in Kansas Third District
Today, Representative Sharice Davids announced 15 community projects across Kansas’ Third District that she has submitted to the U.S. House Appropriations Committee for Fiscal Year 2026 funding. These locally driven requests — totaling $42,207,012.13 — focus on rebuilding aging roads and bridges, strengthening public safety and law enforcement response, expanding water access during extreme weather, and addressing other urgent community needs.

“My job is to be a voice for Kansas’ Third District in Washington and make sure our community’s priorities are front and center,” said Davids. “My team worked closely with local leaders and thoroughly reviewed each proposal to ensure they’re responsible, effective, and deliver real value. I’ve always fought for smart, fiscally responsible investments — and these projects reflect that commitment while making a meaningful difference for Kansans.”

Each of the 15 Davids-requested projects were submitted in tandem with local officials and selected for their potential to improve health and safety in the community and bring economic opportunity to the Third District. Appropriations requests are subject to strict transparency and accountability rules, which can be found here.

Read more about how each project will improve lives in our community here or below:

Road and Bridges
- Kansas Avenue Bridge Project ($3,500,000): To reconnect the Kansas City region and connect the urban freight corridor crucial to the many local industrial and manufacturing businesses in the Kansas City metropolitan region.
- Spring Hill Intersection Improvements ($2,391,641): To construct a safety upgrade and modernization for the intersection of of US Highway 169 and 191^st street to provide safety improvements for motor vehicles, pedestrians, and cyclists.
Public Safety
- Overland Park Police Department (OPPD) Body Camera Replacement ($1,500,000): To purchase body cameras for all OPPD officers and improve video systems to increase safety, transparency, and trust.
- New Century AirCenter Air Traffic Control Tower ($6,000,000): To build a new, safer air traffic control tower, replacing operationally obsolete tower, making flights safer and more efficient.
- Overland Park Street Signal Replacement ($1,300,000): To replace the traffic signal and sidewalk at Metcalf Avenue and I-435 westbound, Metcalf Avenue and I-435 eastbound, and Metcalf Avenue and 110^th street.
Water
- Bonner Springs Sewage ($6,318,755): To build new sewer lines to prevent overflows, as the current system is already at capacity, and better serve the 3,500 residents and local businesses.
- Garnett Flood Prevention ($1,000,000): To fix a damaged spillway in Garnett to prevent flooding, protect homes, and keep the local lake — a part of the town’s economy — open and safe for visitors.
- Olathe Sewer Rehabilitation ($1,105,582): To replace old, worn-out sewer pipes and manholes in Olathe to prevent leaks and protect the health and safety of Kansas families.
- Princeton Stormwater Improvements ($634,786.13): To improve Princeton’s storm drainage system to prevent flooding and support future business and job growth in the area.
Education
- K-State Olathe Manufacturing Equipment ($5,004,250): To buy lab equipment so students can train for high-tech, good-paying supply chain research and advanced manufacturing jobs as domestic manufacturing grows in Kansas City.
Energy and Utilities
- BPU Electric Grid System Improvements ($6,000,000): To construct three additional feeders from the new Rosedale Substation to the University of Kansas Medical Center campus.
Public Spaces
- Johnson County Building Security Upgrades ($917,000): To modernize county building security panel access systems. By modernizing existing security technology, this project enhances security for all citizens, public employees, and elected officials throughout the system of county buildings.
- Osawatomie John Brown Park Refurbishment ($1,560,000): To refurbish aged infrastructure and allow space for improved public engagement and historical education opportunities.
- Prairie Village Municipal Complex Modernization ($3,900,000): To upgrade driveways, sidewalks and curbs, underground retention, drainage pipes, fencing, pavement markings, landscaping, retaining walls, covered car ports, and utilities.
- UG Mount Marty Park Refurbishment ($1,075,000): To update park wayfinding signage, lighting, resurfacing of the roadway into Marty Park, trail work, structural repairs, sidewalk instillation, and landscaping.
What they are saying:

“We are incredibly grateful to Representative Sharice Davids for championing the Lonestar Interceptor project through the Community Project Funding process,” said Tom Stephens, Mayor, City of Bonner Springs. “This critical infrastructure investment lays the foundation for future development, protects public health, and ensures our city is prepared for long-term growth. Her support brings us one step closer to a more resilient and sustainable Bonner Springs.”

“Reliable infrastructure isn’t just about keeping the lights on — it’s about protecting lives and supporting critical services like hospitals, emergency response, and local industry,” said Jeremy Ash, General Manager, Kansas City Board of Public Utilities. “This investment would strengthen our electric system, improve service resilience, and ensure we can meet the evolving needs of the people we serve. We’re grateful to Rep. Davids for championing this project, and we urge leaders to support funding that delivers real, long-term benefits to Kansans, especially the hardworking families and businesses of Wyandotte County.”

“The City of Osawatomie and its leadership sincerely appreciate Representative Davids’ steadfast support and commitment to preserving a vital chapter of our nation’s history,” said Bret Glendening, City Manager, Osawatomie. “The events that unfolded in Osawatomie were pivotal in shaping both Kansas and the United States, and their significance cannot be overstated. Securing Representative Davids’ endorsement is an important first step for the future of John Brown Park, and we look forward to continuing our collaboration to help make this critical federal investment a reality.”

“We thank Representative Davids for her support in securing these important community project funds – a testament to the powerful impact of collaboration between the federal and local levels,” said Curt Skoog, Mayor, Overland Park. “The upgrades at the I-435 and Metcalf will improve safety for Overland Park drivers, and the body camera replacements will equip our Police Department with essential tools for transparency. We look forward to the positive impact of these investments on our community.”

“On behalf of the City of Princeton and Franklin County I would like to express our appreciation to Representative Sharice Davids support of our request for funding,” said Paul Bean, Executive Director, Franklin County Development Council. The funding to fix and improve infrastructure in the City of Princeton is vital to the future growth and development of the community. Without federal and state support, our small rural communities will not have the opportunity to thrive and grow.”

“We are very grateful for Representative Davids continued support for reopening the Kansas Avenue bridge and continuing to be a champion for improving the quality of life for our residents,” said Tyrone Garner, Mayor, Unified Government of Wyandotte County and Kansas City, Kansas. “This funding request will help us with the design and environmental work that must be done to get this critical transportation artery operating again. The UG also appreciates Representative Davids support for restoration of the historic Mount Marty Park that is a treasured part of the Rosedale neighborhood.”

“New Century AirCenter contributes $1.1 billion annually to the local and regional economy,” said Mike Kelly, Chairman, Johnson County Board of County Commissioners. “Upgrading the Air Traffic Control Tower is essential to maintaining the safety, efficiency, and economic value the airport brings to Johnson County and the entire region. We appreciate Rep. Davids’ support for this vital infrastructure investment.”

“Enhancing building security helps protect our public facilities, employees, and the residents who rely on our services,” said Byron Roberson, Sheriff, Johnson County. “We’re grateful for Rep. Davids’ partnership in supporting the safe and effective delivery of these essential services.”

“We appreciate Representative Davids’ support for our municipal civic center improvement.,” said Eric Mikkelson, Mayor, Prairie Village. “This significant Prairie Village project addresses aging and failing infrastructure, provides improved working conditions for police and city staff, and creates adequate space for public meetings and future growth. By planning ahead, we will ensure that we have a functional, modern facility to benefit current residents and future generations.”

“This project would strengthen transportation safety not only for Spring Hill, but for everyone who uses the K-7 corridor,” said Joe Berkey, Mayor, Spring Hill. “We appreciate Rep. Davids’ continued support in advocating for federal investment in our community.”

“The City of Princeton would like to thank Sharice Davids for adding Princeton’s storm water improvements to her community project funding submissions,” said Chris Hutchinson, Mayor, Princeton. “This funding will be beneficial to our community in more ways than one. The community as a whole appreciates the support.”

“The State of Kansas and the Greater Kansas City region are becoming hubs for advanced manufacturing, with major developments like Panasonic’s new plant in DeSoto—bringing an estimated 4,000 jobs—Garmin’s expansion in Olathe, and Merck’s recent announcement to add 200 jobs through expanded vaccine production in DeSoto,” said Dr. Ben Wolfe, CEO and Dean, K-State Olathe. “To successfully onshore manufacturing and grow American jobs, we must invest in education and workforce training. K-State Olathe is proud to partner with Rep. Sharice Davids and others to launch a state-of-the-art lab that will support academic programs, professional development, and applied research to meet industry needs and drive innovation.”
MIL OSI USA News –
June 3, 2025
MIL-OSI USA: Davids Stands with Kansans to Oppose Devastating GOP Cuts to Medicaid, Food Assistance
Source: United States House of Representatives – Congresswoman Sharice Davids (KS-3)

Today, Representative Sharice Davids hosted a virtual press conference to call out the devastating impact of House Republicans’ budget — particularly its deep cuts to Medicaid. The partisan budget, backed by President Trump, would also slash emergency food assistance and programs hardworking Kansans rely on every day to pay for more than $1 trillion in tax giveaways for billionaires and large corporations.

“We should be focused on cutting waste and making life more affordable for Kansans,” said Davids. “Instead, this partisan budget does the exact opposite — rips away health care and food assistance from the people who need it most. Kansans deserve policies that invest in the middle class, not ones that line the pockets of billionaires at their expense. That’s why I’m fighting to protect Medicaid, preserve critical programs, and stand up for hardworking families across our state.”

WATCH: Davids hosts press conference with Kansans affected by Republicans’ proposed Medicaid cuts

At today’s press conference, Davids was joined by Kansans directly impacted by proposed Medicaid cuts in the Republican budget. Mark and Patty Hink spoke about their son Brian, who relies on Medicaid for critical services and medications provided at a disability services provider in Overland Park. Samantha Denzin Armistead shared how her brother Connor, an adult with intellectual disabilities, depends on KanCare’s Home and Community Based Services to attend day programs that give him purpose and stability. Corey Craig, CEO of Monarch Hospice & Palliative Care, provided insight into how these cuts would harm health care providers and seniors across the state.

President Trump and U.S. House Republicans are pushing a budget that would make the largest cuts to Medicaid and emergency food assistance in American history — all to fund more than $1 trillion in tax giveaways for billionaires. These extreme cuts would force Kansans to pay more to put food on the table and stay healthy.
- Cuts to Health Care: The Joint Economic Committee estimates that more than 16,000 people in Kansas’ Third District would lose health care coverage under this bill — including 13,000 through the Affordable Care Act and another 3,000 through Medicaid. These cuts would lead to more hospital closures, reduced services, and worse care for all Kansas families, especially in rural communities, where more than half of hospitals are already at risk of shutting down.
- Cuts to Food Access: In Kansas’ Third District alone, 8,000 households could lose access to the emergency food assistance they rely on through this bill. Also, up to 27,000 grocery stores nationwide may be forced to close due to lost revenue, worsening food deserts, especially in rural communities. These cuts would reduce farm income by more than $30 billion and threaten good-paying jobs.
To fight back against this reckless and harmful budget that will raise costs, Davids introduced a series of amendments early this morning. Her goal is to protect Kansas families and bring common sense and stability back to our economy and government. Davids’ original amendments include:
- Health Care
- Agriculture
  - Animal Disease Protection: Stops job cuts at the National Bio and Agro-Defense Facility (NBAF) in Manhattan, which protects farmers and food from dangerous animal diseases.
  - Tariff Study: Requires the United States Department of Agriculture (USDA) to study how U.S. tariffs hurt farmers, from higher supply costs to lost market access.
- Research
  - Medical Research Funding: Unfreezes all National Institutes of Health (NIH) research money and protects existing medical research contracts, including at the University of Kansas Cancer Center.
  - Science Grants: Makes the National Science Foundation (NSF) keep its promises and funding for science projects already approved and signed, including at public universities in Kansas.
- Jobs
  - Manufacturing Partnerships: Ensures Kansas Manufacturing Solutions and similar groups keep getting federal support each year.
  - Energy Assistance Program: Saves jobs and funding for the team that runs Low Income Home Energy Assistance Program (LIHEAP), which helps families pay heating and cooling bills.
  - Advanced Manufacturing Tax Credit: Protects the 45X tax credit that domestic manufacturers use to help build clean energy technology and create good-paying jobs.
MIL OSI USA News –
June 3, 2025
MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for June 3, 2025

ER Report: Here is a summary of significant articles published on EveningReport.nz on June 3, 2025.

In her memoir, Jacinda Ardern shows a ‘different kind of power’ is possible – but also has its limits
Source: The Conversation (Au and NZ) – By Grant Duncan, Teaching Fellow in Politics and International Relations, University of Auckland, Waipapa Taumata Rau Getty Images Imagine getting a positive pregnancy test and then – just a few days later – learning you’ll be prime minister. In hindsight, being willing and able to deal with the

Google’s SynthID is the latest tool for catching AI-made content. What is AI ‘watermarking’ and does it work?
Source: The Conversation (Au and NZ) – By T.J. Thomson, Senior Lecturer in Visual Communication & Digital Media, RMIT University HomeArt/Shutterstock Last month, Google announced SynthID Detector, a new tool to detect AI-generated content. Google claims it can identify AI-generated content in text, image, video or audio. But there are some caveats. One of them

What parents and youth athletes can do to protect against abuse in sport
Source: The Conversation (Au and NZ) – By Fanny Kuhlin, PhD candidate in Sport Management (Sport Science), Örebro University Ron Alvey/Shutterstock From the horrific Larry Nassar abuse scandal in United States gymnastics to the “environment of fear” some volleyball athletes endured at the Australian Institute of Sport, abuse in sport has been well documented in

Astronomers thought the Milky Way was doomed to crash into Andromeda. Now they’re not so sure
Source: The Conversation (Au and NZ) – By Ruby Wright, Forrest Fellow in Astrophysics, The University of Western Australia Luc Viatour / Wikimedia, CC BY-SA For years, astronomers have predicted a dramatic fate for our galaxy: a head-on collision with Andromeda, our nearest large galactic neighbour. This merger – expected in about 5 billion years

Is the private hospital system collapsing? Here’s what the sector’s financial instability means for you
Source: The Conversation (Au and NZ) – By Yuting Zhang, Professor of Health Economics, The University of Melbourne lightpoet/Shutterstock Toowong Private Hospital in Brisbane is the latest hospital to succumb to financial pressures and will close its doors next week. The industry association attributes the psychiatric hospital’s closure to insufficient payments from and delayed funding

Trump’s steel tariffs are unlikely to have a big impact on Australia. But we could be hurt by what happens globally
Source: The Conversation (Au and NZ) – By Scott French, Senior Lecturer in Economics, UNSW Sydney Shestakov Dymytro/Shutterstock Just one day after the US Court of Appeals temporarily reinstated the Trump Administration’s Liberation Day tariffs of between 10% and 50% on nearly every country in the world, Trump announced tariffs on all US imports of

Tax concessions on super need a rethink. These proposals would bring much needed reform
Source: The Conversation (Au and NZ) – By Chris Murphy, Visiting Fellow, Economics (modelling), Australian National University fizkes/Shutterstock The federal government has proposed an additional tax of 15% on the earnings made on super balances of over A$3 million, the so-called Division 296 tax. This has set off a highly politicised debate that has often

The surprising power of photography in ageing well
Source: The Conversation (Au and NZ) – By Tricia King, Senior Lecturer in Photography, University of the Sunshine Coast Marcia Grimm Older adults are often faced with lifestyle changes that can disrupt their sense of place and purpose. It may be the loss of a partner, downsizing their home, or moving to residential aged care.

What birds can teach us about repurposing waste
Source: The Conversation (Au and NZ) – By David Farrier, Professor of Literature and the Environment, University of Edinburgh Some birds use deterrent spikes to make their nests. Chemari/Shutterstock Modern cities are evolution engines. Urban snails in the Netherlands and lizards in Los Angeles have developed lighter shells and larger scales to cope with the

Human Rights Watch warns renewed fighting threatens West Papua civilians
Asia Pacific Report An escalation in fighting between Indonesian security forces and Papuan pro-independence fighters in West Papua has seriously threatened the security of the largely indigenous population, says Human Rights Watch in a new report. The human rights watchdog warned that all parties to the conflict are obligated to abide by international humanitarian law,

Will surging sea levels kill the Great Barrier Reef? Ancient coral fossils may hold the answer
Source: The Conversation (Au and NZ) – By Jody Webster, Professor of Marine Geoscience, University of Sydney marcobriviophoto.com In the 20th century, global sea level rose faster than at any other time in the past 3,000 years. It’s expected to rise even further by 2100, as human-induced climate change intensifies. In fact, some studies predict

Pro-Trump candidate wins Poland’s presidential election – a bad omen for the EU, Ukraine and women
Source: The Conversation (Au and NZ) – By Adam Simpson, Senior Lecturer, International Studies, University of South Australia Poland’s presidential election runoff will be a bitter pill for pro-European Union democrats to swallow. The nationalist, Trumpian, historian Karol Nawrocki has narrowly defeated the liberal, pro-EU mayor of Warsaw, Rafał Trzaskowski, 50.89 to 49.11%. The Polish

Australia’s latest emissions data reveal we still have a giant fossil fuel problem
Source: The Conversation (Au and NZ) – By Emma Lovell, Senior Lecturer in Chemical Engineering, UNSW Sydney According to Australia’s Climate Change and Energy Minister Chris Bowen, the latest emissions data show “we are on track to reach our 2030 targets” under the Paris Agreement. In 2024, Australia’s greenhouse gas emissions were “27% below 2005

What is retinol? And will it make my acne flare? 3 experts unpack this trendy skincare ingredient
Source: The Conversation (Au and NZ) – By Laurence Orlando, Senior Lecturer, Product Formulation and Development, Analytical Methods, Monash University Irina Kvyatkovskaya/Shutterstock Retinol skincare products suddenly seem to be everywhere, promising clear, radiant and “youthful” skin. But what’s the science behind these claims? And are there any risks? You may have also heard retinol can

Pasifika recipients say King’s Birthday honours not just theirs alone
By Teuila Fuatai, RNZ Pacific senior journalist, Iliesa Tora, and Christina Persico A New Zealand-born Niuean educator says being recognised in the King’s Birthday honours list reflects the importance of connecting young tagata Niue in Aotearoa to their roots. Mele Ikiua, who hails from the village of Hakupu Atua in Niue, has been named a

Eugene Doyle: Writing in the time of the Gaza genocide
COMMENTARY: By Eugene Doyle I want to share a writer’s journey — of living and writing through the Genocide. Where I live and how I live could not be further from the horror playing out in Gaza and, increasingly, on the West Bank. Yet, because my country provides military, intelligence and diplomatic support to Israel

Decades of searching and a chance discovery: why finding Leadbeater’s possum in NSW is such big news
Source: The Conversation (Au and NZ) – By David Lindenmayer, Distinguished Professor of Ecology, Fenner School of Environment and Society, Australian National University Until now, Victorians believed their state was the sole home for Leadbeater’s possum, their critically endangered state faunal emblem. This tiny marsupial is clinging to life in a few pockets of mountain

In Bradfield, the election is not yet over. What happens when a seat count is ultra close?
Source: The Conversation (Au and NZ) – By Graeme Orr, Professor of Law, The University of Queensland Election day was over four weeks ago. Yet the outcome in one House of Representatives remains unclear. That is the formerly Liberal Sydney electorate of Bradfield. In real time, you can watch the lead tilt between Liberal hopeful,

Is there a right way to talk to your baby? A baby brain expert explains ‘parentese’
Source: The Conversation (Au and NZ) – By Jane Herbert, Associate Professor in Developmental Psychology, University of Wollongong 2p2play/Shutterstock You might have seen those heartwarming and often funny viral videos where parents or carers engage in long “talks” with young babies about this and that – usually just fun chit chat of no great consequence.

MIL OSI Analysis – EveningReport.nz –

June 3, 2025
MIL-OSI USA: Gov. Pillen Address to Lawmakers: Positive, Lasting Impact Serves Nebraskans Well
Source: US State of Nebraska

. Pillen Address to Lawmakers:

Positive, Lasting Impact Serves Nebraskans Well

LINCOLN, NE – Today, Governor Jim Pillen shared with members of the 109th Nebraska Legislature the headline he felt best summarized this session: Positive, lasting impact serves Nebraskans well. During his sine die, or end-of-session address, the Governor hit on multiple areas of achievement, including passage of the overwhelming majority of his own priority bills.

On two occasions during his speech, Gov. Pillen gave recognition to special guests in attendance. Members of the Nebraska State Patrol, friends of Trooper Kyle McAcy, were applauded for their service to the state. They were on scene the day Trooper McAcy died while assisting motorists in a snowstorm.

The second recognition was of WWII veteran Wayne Davy of Columbus. The former Marine was there to represent the many veterans who have been honored with special medallions as part of a program involving the Nebraska Department of Veterans Affairs (NDVA). Gov. Pillen has worked with the agency to present the medals to veterans, signifying the 80th anniversary since the end of the war.

Below are some of the legislative highlights from the 2025 session including those that align with his four priority areas – kids, taxes, agriculture and values:

Passage of one of the most historically conservative and fiscally responsible state budgets, accomplished by cutting wasteful spending and putting idle pillowcase money to work while also maintaining investments in education, property tax relief, and the safety of the state.

Gov. Pillen signed the following bills into law that protect our kids from online distractions and harm and to give parents more control over kids’ use of social media.
- LB140 – Requires public school boards to adopt policies for restricting cell phone use bell to bell
- LB383 – Creates the Parental Rights in Social Media Act, requiring parental consent for creation of social media accounts for minors and establishes criminal penalties for AI-generated child pornography
- LB504 – As part of the Age-Appropriate Online Design Code Act, online services are required to protect user data, implement design features that reduce harm resulting from compulsive use and it gives parents access to their child’s privacy and account settings
Gov. Pillen signed the following bill into law to review and recommend changes to Nebraska’s TEEOSA school funding formula to help keep property taxes under control.
- LB303 – Creates the 18-member School Finance Review Commission, which will evaluate the current TEEOSA formula governing Nebraska school funding
- LB261 – Increases property tax relief by $105 million in 2026 and $170 million in 2027
Gov. Pillen signed the following bills into law designed to grow agriculture and the economy.
- LB246 – Bans lab-grown meat from being manufactured, distributed, or sold in Nebraska
- LB317 – Merges the Nebraska Department of Natural Resources with the Nebraska Department of Environment & Energy to create the Nebraska Department of Water, Energy and Environment
- LB650 – Eliminates or adjusts sales tax exemptions and provides and changes sunset dates for a variety of tax incentives
- LB526 – Preserves needed electrical service to homes, businesses and other Nebraska customers by establishing requirements for cryptocurrency mining operations
Gov. Pillen signed the following bills into law that defend conservative Nebraska values.
- LB89 – The Stand With Women Act protects girls and women by prohibiting biological males from joining female sports teams
- LB645 – Puts an additional $1,000 in teachers’ pockets annually, stabilizes contribution rates to the School Employees Retirement System and increases survivor benefits through the Nebraska State Patrol Retirement System
- LB346 – “Cleans out the closets” by ending or reassigning the duties of over 40 different boards, commission, committees or councils
- LB 644 – Creates the Foreign Adversary & Terrorist Agent Registration Act and the Crush Transnational Repression in Nebraska Act to establish registration and reporting requirements for certain foreign entities
In addition to the legislative achievements outlined above, Gov. Pillen made several new appointments to key state agencies including Department of Labor Commissioner Katie Thurber, Nebraska State Patrol Superintendent Bryan Waugh, and Department of Water, Energy and Environment Director Jesse Bradley.

MIL OSI USA News –
June 3, 2025
MIL-OSI Australia: Average retail petrol prices edge higher in the March quarter on the back of a lower Australian dollar

Source: Australian Ministers for Regional Development

Retail petrol prices across Australia’s five largest cities moved higher in the March quarter 2025, according to the ACCC’s latest quarterly petrol monitoring report.

In the March quarter 2025, average retail petrol prices across the five largest cities (Sydney, Melbourne, Brisbane, Adelaide and Perth) were 182.2 cents per litre (cpl), an increase of 2.4 cpl from the previous quarter.

Click to enlarge

Quarterly average retail prices were higher in Sydney, Brisbane and Perth and only marginally lower in Melbourne (by 0.7 cpl) and Adelaide (by 0.4 cpl).

A lower AUD-USD exchange rate was the main contributor to higher average retail prices

Higher retail petrol prices on average largely reflected the impact of a lower AUD-USD exchange rate, which makes the international cost of refined petrol relatively more expensive in Australian dollar terms.

In the March quarter 2025, the AUD-USD exchange rate averaged US 62.7 cents, which was the lowest quarterly average AUD-USD exchange rate in more than 20 years.

The international price of refined petrol (Mogas 95) is traded in US dollars in global markets and made up the largest component of average retail petrol prices.

The following figure shows the impact of changes in various components on average retail petrol prices across the five largest cities between the December quarter 2024 and the March quarter 2025.

Components of average retail petrol prices across the five largest cities – Australian cpl

Source: ACCC calculations based on data from Informed Sources, Argus Media, Ampol, bp, Mobil, Viva Energy, FuelWatch, the Reserve Bank of Australia and the Australian Taxation Office.
Notes: cents per litre change from the previous quarter)
Excise and wholesale goods and services tax (66.0 cpl) excludes a component of retail goods and services tax (1.3 cpl) in the above chart. This is for consistency in reporting gross indicative retail difference figures throughout this report, which include a small component of goods and services tax. Total excise and goods and services tax for both wholesale and retail (67.3 cpl) is shown in the petrol bowser in the ‘March quarter 2025 – Petrol snapshot’.

If the quarterly average AUD–USD exchange rate had remained the same, Mogas 95 prices would have decreased by 0.5 cpl in the quarter. Instead, the lower AUD–USD exchange rate meant that average Mogas 95 prices increased by 2.9 cpl in Australian dollar terms.

“The lower AUD-USD exchange rate meant that consumers paid higher prices on average at the bowser in the most recent quarter,” Commissioner Anna Brakey said.

Other components of retail prices include taxes, wholesale costs and margins, and retail costs and margins (represented by gross indicative retail differences). Gross indicative retail differences are a broad indicator of gross retail margins and include both retail operating costs and retail profits.

Petrol gross indicative retail differences were 14.4 cpl across the five largest cities in the quarter, a decrease of 2.8 cpl from the previous quarter. They varied between the five largest cities, and were lowest in Adelaide (7.6 cpl) and highest in Brisbane (24.2 cpl).

Average retail petrol prices were higher in the smaller capital cities and on average across the regions

In Canberra, Hobart and Darwin quarterly average retail petrol prices were also higher from the previous quarter. Quarterly average retail petrol prices in Canberra were the highest among the eight capital cities.

Across 190 regional locations that the ACCC monitors, average retail petrol prices across regional locations (in aggregate) were 184.3 cpl, an increase of 4.8 cpl from the previous quarter. On average, regional retail prices across all locations were 2.1 cpl higher than prices across the five largest cities (182.2 cpl).

“We continue to encourage consumers to use information available through fuel price apps and websites to find lower priced retailers and save money where possible,” Ms Brakey said.

“Fuel price transparency schemes collect price data for display on fuel price apps and websites. In January, the Victorian Government announced a price transparency scheme to be phased in over 2025, which would then mean every jurisdiction in Australia is covered by one of these schemes.”

After initial uptick, international crude oil prices then trended downward in the quarter

International prices for refined petrol (Mogas 95) are largely driven by international crude oil prices. In the March quarter 2025, after an initial increase, crude oil prices largely trended downward.

This downward trend was influenced by international factors, including concerns of lower demand stemming from the United States’ plans for higher tariffs, the potential for Russian oil supply to re-enter the market as part of a peace deal with Ukraine, and several OPEC countries increasing supply.

Diesel prices were higher in all capital cities for the first time in four consecutive quarters

Quarterly average retail diesel prices increased in all eight capital cities. Across the five largest cities, quarterly average retail diesel prices were 186.9 cpl, an increase of 9.8 cpl from the previous quarter. Retail diesel prices generally followed international diesel benchmark prices, which accounted for the largest component of retail diesel prices.

The higher quarterly prices followed four consecutive quarters of decline, from the December quarter 2023 to the December quarter 2024.

Note to editors

‘Petrol’ means regular unleaded petrol unless otherwise specified.

Price changes are reported in nominal terms unless otherwise specified.

Singapore Mogas 95 Unleaded (Mogas 95) is the relevant international benchmark for the wholesale price of petrol in Australia. Singapore Gasoil with 10 parts per million sulphur content (Gasoil 10 ppm) is the international benchmark for the wholesale price of diesel.

Background

The ACCC has been monitoring retail prices in all capital cities and over 190 regional locations across Australia since 2007.

On 14 December 2022, the Treasurer issued a direction to the ACCC to continue to monitor the prices, costs and profits relating to the supply of petroleum products in the petroleum industry in Australia and produce a report every quarter for a further three years.

MIL OSI News –

June 3, 2025
MIL-OSI Russia: Tehran will not give a positive response to US proposal with “radical” demands – Iranian MFA

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

TEHRAN, June 2 (Xinhua) — Iran will not respond positively to the U.S. draft proposal on Iran’s nuclear program that contains “radical and maximalist” demands, Iranian Foreign Ministry spokesman Esmail Baghaei said on Monday.

E. Baghaei made the statement during a weekly press conference in Tehran, commenting on the US proposal for a possible agreement on the Iranian nuclear program, presented to Iran on May 31 by Omani Foreign Minister Badr bin Hamad bin Hamoud al-Busaidi.

Baghaei said Iran and the US were aware of each other’s “red lines,” stressing Iran’s insistence on continuing to enrich uranium and ensuring the effective lifting of what he called “cruel” sanctions. These two conditions, he said, should be integral to any potential agreement with the US.

He stressed that the lifting of sanctions remains Iran’s main demand in the ongoing indirect talks with the West on its nuclear program.

The official noted Iran’s readiness to take confidence-building and transparency measures regarding its nuclear program under the supervision of the International Atomic Energy Agency, but stressed the need for guarantees of a real lifting of sanctions imposed on Tehran over the past decades.

E. Baghaei said the United States had not provided clarification on the lifting of sanctions, adding that Iran needed a clear understanding of the mechanisms for lifting them and guarantees that it would be able to see the results of lifting sanctions, especially in sectors such as foreign trade, the economy and banking.

Iran’s Foreign Minister Abbas Araghchi told a cabinet meeting in Tehran on Sunday that Iran was preparing a response to the US proposal, Iran’s official IRNA news agency reported. -0-

MIL OSI Russia News –

June 3, 2025
MIL-OSI USA: Padilla, ENR Colleagues Urge Interior Inspector General to Investigate Threats Posed by Workforce Reductions at Bureau of Reclamation

US Senate News:

Source: United States Senator Alex Padilla (D-Calif.)

Padilla, ENR Colleagues Urge Interior Inspector General to Investigate Threats Posed by Workforce Reductions at Bureau of Reclamation

Senators to DOI Acting Inspector General: “We are concerned that the Administration’s actions to gut the agency of qualified public servants could leave critical water infrastructure and communities vulnerable to operational disruptions”
WASHINGTON, D.C. — U.S. Senator Alex Padilla (D-Calif.), a member of the Senate Energy and Natural Resources (ENR) Committee, joined his ENR colleagues in urging U.S. Department of the Interior Acting Inspector General (IG) Caryl Brzymialkiewicz to evaluate the consequences of the Trump Administration’s workforce reductions at the Bureau of Reclamation (BOR). The Senators warned that these cuts are preventing the agency from fulfilling its statutory mission and implementing relevant programs and activities authorized by Congress, including supporting essential water infrastructure projects in California and across the West.
According to reports, BOR has lost 1,400 public servants — approximately 25 percent of the agency’s entire workforce — since the Trump Administration began its assault on the federal workforce in January. Additionally, President Trump’s Fiscal Year 2026 budget request proposes a $600 million (34 percent) cut to BOR funding, jeopardizing important water infrastructure projects.
“Recent reductions in workforce significantly threaten BOR’s ability to safely and reliably deliver water to communities and farmers, keep waterways flowing for fish and wildlife across the western United States, and produce reliable electricity,” wrote the Senators.
BOR is the largest wholesale water supplier in the United States — operating many critical California water management projects and delivering trillions of gallons of water to more than 31 million people and 10 million acres of farmland. The farmland managed by BOR produces over 60 percent of the nation’s vegetables and more than 25 percent of its fruits and nuts.
BOR is also the second-largest producer of hydroelectric power in the country. The facilities BOR operates generate 40 million megawatt-hours of electricity each year.
The Senators expressed concern over the lack of strategy and harm to public safety that these workforce reductions pose.
“Rapid reductions to BOR’s workforce raise significant concerns about the Bureau’s ability to meet its core responsibilities, particularly inspecting dams and identifying threats to public safety,” continued the Senators.
“BOR needs experienced personnel with the necessary expertise to manage critical infrastructure. We are concerned that the Administration’s actions to gut the agency of qualified public servants could leave critical water infrastructure and communities vulnerable to operational disruptions,” added the Senators.
The Senators concluded by pushing the IG to investigate whether recent workforce reductions at BOR prevent the Bureau from carrying out its obligations. The letter was led by ENR Ranking Member Martin Heinrich (D-N.M.) and signed by fellow ENR Democratic members U.S. Senators Maria Cantwell (D-Wash.), Catherine Cortez Masto (D-Nev.), Ruben Gallego (D-Ariz.), John Hickenlooper (D-Colo.), Mazie Hirono (D-Hawaii), and Ron Wyden (D-Ore.).
Earlier this year, Senators Padilla and Adam Schiff (D-Calif.) pushed the Department of the Interior to prevent further federal workforce cuts to BOR, warning of the devastating effects of these reductions on water supply systems in California and across the nation. In that letter, Padilla and Schiff highlighted three vital water projects that depend on the expertise of Reclamation staff for managing water in the West: the Klamath Project, the Central Valley Project (CVP), and the Lower Colorado Regional Office. In the face of public pressure from the Senators and 14 California water officials, BOR paused a planned additional round of workforce cuts. Padilla and Schiff previously urged the Department of the Interior to immediately stop its freeze of Inflation Reduction Act funding for the Lower Colorado River System Conservation and Efficiency Program, which is managed by BOR.
Full text of the letter is available here and below:
Dear Acting Inspector General Brzymialkiewicz:
We write to request that your office evaluate the extent to which workforce reductions at the Bureau of Reclamation (“Bureau” or “BOR”) prevent the agency from fulfilling its statutory mission and implementing relevant programs and activities authorized by Congress. The Bureau is the largest wholesaler of water in the United States—delivering trillions of gallons of water to more than 31 million people. The Bureau is also the second largest producer of hydroelectric power in the country. The facilities BOR operate generate 40 million megawatt-hours of electricity each year. However, recent reductions in workforce significantly threaten BOR’s ability to safely and reliably deliver water to communities and farmers, keep waterways flowing for fish and wildlife across the western United States, and produce reliable electricity.
According to reports, BOR has lost 1,400 public servants since the administration began its assault on the federal workforce. The positions reportedly eliminated include mechanics, engineers, and fish biology specialists—personnel with considerable expertise. Through firings of probational workers, buyouts, early retirements, and other related actions, BOR has shrunk by 25 percent. This workforce reduction has lacked a coherent, mission- and safety- driven strategy and instead led to the departure of experienced personnel—some with over 20 years of experience—leaving the Bureau susceptible to operational disruptions.
Rapid reductions to BOR’s workforce raise significant concerns about the Bureau’s ability to meet its core responsibilities, particularly inspecting dams and identifying threats to public safety. BOR manages over 450 dams throughout 17 western states. Previously, BOR’s dam safety program identified over 300 high and significant hazard dams at more than 200 facilities. The age and complex nature of dam systems necessitates having experienced staff trained in the operation of such systems. In fact, as your office identified in a September 2023 report, approximately 90 percent of BOR’s dams are more than 50 years old and “[a]ging dams increase the risk of dam failures.” BOR needs experienced personnel with the necessary expertise to manage critical infrastructure. We are concerned that the administration’s actions to gut the agency of qualified public servants could leave critical water infrastructure and communities vulnerable to operational disruptions.
Your office is responsible for promoting “accountability, integrity, economy, efficiency, and effectiveness within” the DOI and identifying “ways to improve the DOI’s programs and operations by offering specific, actionable recommendations that lead to positive change.” We therefore urge you to evaluate whether recent workforce reductions at BOR inhibit the Bureau from carrying out its obligations.
Thank you for your attention to this important matter.
Sincerely,

MIL OSI USA News –

June 3, 2025
MIL-OSI United Kingdom: Major £5 billion technology investment accelerates UK defence innovation in a European first
Source: United Kingdom – Executive Government & Departments 3

Press release

Major £5 billion technology investment accelerates UK defence innovation in a European first

More than £4 billion drive towards autonomous systems to shape UK military future and boost export potential, supporting the Plan for Change
UK troops and warships will be protected by drone and laser weapon technology through a major £5 billion investment, as the UK seeks to become the leading edge of innovation in NATO under the Strategic Defence Review (SDR) and driven by lessons from Ukraine.

The major funding package includes more than £4 billion for autonomous systems and a further investment of nearly £1 billion for Directed Energy Weapons (DEW) this Parliament – including the iconic DragonFire laser – boosting frontline capabilities while creating 300 skilled jobs across the country.

DragonFire is set to be the first high power laser capability entering service from a European nation, with the first Royal Navy Type 45 destroyer due to be fitted in 2027.

The SDR recommends that an immediate priority for force transformation should be a shift towards greater use of autonomy. To help achieve this, it says Defence must incorporate uncrewed and autonomous systems in high numbers over the next five years and make targeted investment in the development of novel directed energy weapons.

Today’s autonomous systems investment – of which more than £2 billion is new funding following the Government‘s historic uplift in defence spending to 2.5% of GDP from 2027– will see autonomous systems, including drones improve accuracy and lethality for our Armed Forces, and boost UK export potential.

It comes after major announcements ahead of the SDR publication, including: the building of up to a dozen new attack submarines for the Royal Navy; up to 7,000 new UK-built long-range weapons to procured; at least six new munitions and energetics factories in the UK; more than £1.5 billion to improve the state of military housing; and more than £1 billion for pioneering technology to spearhead battlefield engagements.

The new DEW capabilities will give the UK an edge, creating low cost and sustainable alternatives to missiles to shoot down targets, such as drones, at the speed of light, reduce collateral damage and have a low-cost per shot, reducing reliance on expensive ammunition.

The systems will be tailored to the conditions in which they will operate – whether at sea, on land, or in the air – and will work alongside crewed assets, such as current and future fighter jets.

Both investments reflect the SDR’s vision for UK innovation to be driven by the lessons from Ukraine – harnessing drones, data and digital warfare to make our Armed Forces stronger and safer.

The SDR sets a path for the next decade and beyond to transform defence and make the UK secure at home and strong abroad. It ends the hollowing out of our Armed Forces and will also drive innovation, jobs and growth across the country, allowing the UK to lead in a stronger NATO as part of this Government’s Plan for Change.

Defence Secretary, John Healey MP said:

These investments will mean the most significant advance in UK defence technology in decades. We will ensure our Armed Forces have the cutting-edge capabilities they need to meet the challenges of a rapidly changing world.

We are delivering the Strategic Defence Review’s vision to put the UK at the leading edge of innovation in NATO, by backing British industry and fast-tracking the kit of the future into the hands of frontline troops.

This Government’s Plan for Change will harness the benefits of technology, create hundreds of new jobs and make defence a powerful engine for economic growth.

Chancellor of the Exchequer, Rachel Reeves said:

A strong economy needs a strong national defence. That’s why we are delivering the biggest sustained increase in defence spending since the Cold War—putting innovation and industrial strength at the centre of our national security strategy.

Additional funding for autonomous systems maximises the defence industry’s potential to drive long term economic growth and productivity – helping us deliver our Plan for Change while keeping the UK safe.

A new DEW will be created for the British Army this decade, alongside DragonFire being integrated on four Royal Navy warships, with the first ship due to be fitted in 2027, forming part of a layered air defence system to better protect UK forces while reducing collateral damage and reducing reliance on expensive ammunition.

DEW technology already supports 200 high-skilled UK jobs, with a further 300 positions to be created across the Ministry of Defence and industry partners. It’s another example of defence as an engine for UK economic growth, delivering on the Plan for Change.

In addition, a new Drone Centre will be established to accelerate exploitation of small, uncrewed air systems across all three military services, helping to deliver them to the front line faster. 

The Centre will provide a central knowledge base to tackle any emerging legislative changes, develop best practice and better manage the interaction with industry. Crucially, it will apply battlefield lessons from Ukraine where drones now kill more people than traditional artillery. Detailed organisational arrangements will be developed over the coming months.

During the SDR process, 1,700 individuals, political parties, and organisations submitted more than 8,000 responses. 200 companies provided written contributions, more than 120 senior experts took part in the review and challenge panels, and nearly 50 meetings took place between the Reviewers and our senior military figures.

Share this page

The following links open in a new tab

Share on Facebook (opens in new tab)

Share on Twitter (opens in new tab)

Updates to this page

Published 2 June 2025
MIL OSI United Kingdom –
June 3, 2025
MIL-OSI: TC Energy provides conversion right and dividend rate notice for Series 3 and 4 preferred shares
Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, June 02, 2025 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) today announced that it does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 3 (Series 3 Shares) and Cumulative Redeemable First Preferred Shares, Series 4 (Series 4 Shares) on June 30, 2025. As a result, subject to certain conditions:

(a) the holders of Series 3 Shares have the right to choose one of the following options with regard to their shares:
1. to retain any or all of their Series 3 Shares and continue to receive a fixed rate quarterly dividend; or
2. to convert, on a one-for-one basis, any or all of their Series 3 Shares into Series 4 Shares and receive a floating rate quarterly dividend, and
(b) the holders of Series 4 Shares have the right to choose one of the following options with regard to their shares:
1. to retain any or all of their Series 4 Shares and continue to receive a floating rate quarterly dividend; or
2. to convert, on a one-for-one basis, any or all of their Series 4 Shares into Series 3 Shares and receive a fixed rate quarterly dividend.
Should a holder of Series 3 Shares choose to retain their shares, such shareholders will receive the new annual fixed dividend rate applicable to Series 3 Shares of 4.102 per cent for the five-year period commencing June 30, 2025 to, but excluding, July 2, 2030. Should a holder of Series 3 Shares choose to convert their shares to Series 4 Shares, holders of Series 4 Shares will receive the floating quarterly dividend rate applicable to the Series 4 Shares of 3.924 per cent for the three-month period commencing June 30, 2025 to, but excluding, Sept. 29, 2025. The floating dividend rate will be reset every quarter.

Should a holder of Series 4 Shares choose to retain their shares, such shareholders will receive the floating quarterly dividend rate applicable to Series 4 Shares of 3.924 per cent for the three-month period commencing June 30, 2025 to, but excluding, Sept. 29, 2025. The floating dividend rate will be reset every quarter. Should a holder of Series 4 Shares choose to convert their shares to Series 3 Shares, holders of Series 3 Shares will receive the new fixed quarterly dividend rate applicable to the Series 3 Shares of 4.102 per cent for the five-year period commencing June 30, 2025 to, but excluding, July 2, 2030.

Beneficial owners of Series 3 Shares and Series 4 Shares who want to exercise their right of conversion should communicate as soon as possible with their broker or other nominee and ensure that they follow their instructions in order to meet the deadline to exercise such right, which is 5 p.m. (EST) on June 16, 2025. Any notices received after this deadline will not be valid. As such, it is recommended that this be done well in advance of the deadline in order to provide the broker or other nominee with time to complete the necessary steps.

Beneficial owners of Series 3 or Series 4 Shares who do not provide notice or communicate with their broker or other nominee by the deadline will retain their respective Series 3 Shares or Series 4 Shares, as applicable, and receive the new dividend rate applicable to such shares, subject to the conditions stated below.

The foregoing conversions are subject to the conditions that: (i) if TC Energy determines that there would be less than one million Series 3 Shares outstanding after June 30, 2025, then all remaining Series 3 Shares will automatically be converted into Series 4 Shares on a one-for-one basis on June 30, 2025, and (ii) if TC Energy determines that there would be less than one million Series 4 Shares outstanding after June 30, 2025, then all of the remaining outstanding Series 4 Shares will automatically be converted into Series 3 Shares on a one-for-one basis on June 30, 2025. In either case, TC Energy will issue a news release to that effect no later than June 23, 2025.

Holders of Series 3 Shares and Series 4 Shares will have the opportunity to convert their shares again on July 2, 2030 (adjusted from June 30, 2030 to account for applicable business days) and on June 30 in every fifth year thereafter as long as the shares remain outstanding. For more information on the terms of, and risks associated with an investment in the Series 3 Shares and the Series 4 Shares, please see the prospectus supplement dated March 4, 2010 which is available on sedarplus.ca or on our website.

About TC Energy
We’re a team of 6,500+ energy problem solvers connecting the world to the energy it needs. Our extensive network of natural gas infrastructure assets is one-of-a-kind. We seamlessly move, generate and store energy and deliver it to where it is needed most, to homes and businesses in North America and across the globe through LNG exports. Our natural gas assets are complemented by our strategic ownership and low-risk investments in power generation.

TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.

FORWARD-LOOKING INFORMATION
This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management’s assessment of TC Energy’s and its subsidiaries’ future plans and financial outlook. All forward-looking statements reflect TC Energy’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov.

-30-

Media Inquiries:
Media Relations
media@tcenergy.com
403-920-7859 or 800-608-7859

Investor & Analyst Inquiries:
Gavin Wylie / Hunter Mau
investor_relations@tcenergy.com
403-920-7911 or 800-361-6522

PDF available: http://ml.globenewswire.com/Resource/Download/55e8d9aa-7d04-46ae-9653-a4cbb657df40

The MIL Network –
June 3, 2025
MIL-OSI USA: Welch Speaks About Trump’s Attack on Green Jobs at Energy Action Network (EAN) and EAN Climate Workforce Coalition Forum

US Senate News:

Source: United States Senator Peter Welch (D-Vermont)

WINOOSKI, VT – U.S. Senator Peter Welch (D-Vt.), Ranking Member of the Senate Agriculture Subcommittee on Rural Development, Energy, and Credit, joined a forum hosted by the Energy Action Network (EAN) and the EAN Climate Workforce Coalition on how Congressional policy and budget decisions may impact Vermont’s energy transformation and climate action initiatives, including Vermont’s climate workforce.
“President Trump has put Big Oil first, and his attacks on green jobs prove it. He and his administration are walking back our global climate goals, gutting tax credits that help folks make energy efficiency home upgrades, and slashing green jobs and climate research. Vermonters have made their opposition to Trump’s actions clear—I’ve heard from hundreds of folks across our state who are deeply concerned about how Republicans’ budget will raise costs for families, businesses, and farmers,” said Senator Welch. “I’ll continue to join Senate Democrats in standing up to these attacks and fighting for a clean energy future.”
Republicans’ reconciliation bill will repeal clean energy programs established through the historic Inflation Reduction Act and raise energy costs for American households and businesses. It will eliminate jobs in manufacturing, clean technologies, and budding industries, and has already sown economic uncertainty throughout the energy sector.
The legislation advanced by the U.S. House of Representatives would effectively repeal many of the clean energy investments in the Inflation Reduction Act while expanding fossil fuel production and subsidies. Specifically, the bill:

Rescinds unspent funding for clean energy grant programs in the Inflation Reduction Act;
Eliminates or effectively eliminates most clean energy tax credits including:

Electric Vehicles Tax Credit for new and used vehicles;
Energy Efficiency Home Improvement Tax Credit;
Clean Electricity Investment and Production Tax Credits;
Advanced Manufacturing Production Credit; and

Mandates oil and gas leases on public lands and allows Big Oil companies to pay the government to fast-track environmental reviews.

All told, Republicans’ plans will have drastic consequences for the economy. Studies predict that repealing the Inflation Reduction Act will eliminate 790,000 jobs, increase energy costs for American consumers by $32 billion between 2025-35, and shrink the U.S. economy by $190 billion in 2035. President Trump’s policies have already killed $14 billion in clean energy investments and 10,000 new energy jobs since he took office.

MIL OSI USA News –

June 3, 2025
MIL-OSI: Eos Energy Enterprises Announces Participation in Upcoming Investor Event

Source: GlobeNewswire (MIL-OSI)

EDISON, N.J., June 02, 2025 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), America’s leading innovator in designing, manufacturing, and providing zinc-based long duration energy storage systems sourced and manufactured in the United States, today announced its participation in an upcoming investor event.

Stifel 2025 Boston Cross Sector 1×1 Conference

Chief Executive Officer Joe Mastrangelo will attend the Stifel 2025 Boston Cross Sector 1×1 Conference on Tuesday, June 3, 2025. The event will include 1×1 investor meetings.

Investors seeking to meet with management should reach out directly to their representatives at Stifel.

About Eos

Eos Energy Enterprises, Inc. is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth™ aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. It is safe, scalable, efficient, sustainable, manufactured in the U.S., and the core of our innovative systems that today provides utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 3 to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

The MIL Network –

June 3, 2025
MIL-OSI USA: Ensuring New Yorkers Keep Cool during Extreme Heat
Source: US State of New York

n Global Heat Action Day, Governor Kathy Hochul highlighted new and enhanced resources available to protect New York communities from extreme heat this summer. Measures will help New Yorkers access affordable cooling at home and at cooling centers, provide additional support for cool and resilient buildings, help keep kids cool at schools, and offer new tools and expanded funding for communities to prepare for and adapt to extreme heat and mitigate urban heat islands. The New York State Department of Health also launched its interactive New York State Heat Risk and Illness Dashboard that will allow the public and county health care officials to determine the forecasted level of heat-related health risks in their areas and raise awareness about the dangers of heat exposure.

“Scorching summer temperatures and increasing extreme weather events threaten the lives and well-being of New Yorkers across the state,” Governor Hochul said. “That’s why I’m directing State agencies to take action and ensure all New Yorkers can afford and access relief from the full spectrum of heat risks.”

Heat waves and other extreme heat events are likely to happen again this summer and New York State agencies are working to implement initiatives recommended by the State’s Extreme Heat Action Plan to help New Yorkers prepare for heat’s negative health and environmental impacts. A range of new and enhanced resources are available for individuals, local governments, and community-based organizations, including:
- New support for cooling at home: With the new Essential Plan Cooling program, NY State of Health will provide eligible Essential Plan members a free air conditioner to help keep their homes cool. This will complement assistance available in 2025 through the HEAP Cooling program which served more than 23,000 households in 2024.
- Better access to cooling centers: New resources are available to help connect New Yorkers with safe spaces for cooling. The New York State Department of Health (DOH) and Division of Homeland Security and Emergency Services (DHSES) will continue to coordinate with local health departments and emergency managers to update the Cooling Center Finder throughout summer 2025. DOH offers new resources to provide information about best practices for setting up cooling centers and how these locations could serve as clean air centers. Round 8 of the Climate Smart Communities grant program is now open, making $22 million available to fund GHG mitigation and climate adaptation projects, including establishing cooling centers.
- Additional support for cool buildings: Funding available through the New York State Energy Research and Development Authority (NYSERDA) supports weatherization and clean and efficient heating and cooling that can improve extreme heat resilience at homes, community anchor institutions, schools, and more. The Office of General Services’ new “Decarbonization and Climate Resiliency Design Guide” was released for new and majorly renovated State building projects to assess and reduce climate risk (including extreme heat and Urban Heat Islands) through proactive design.
- New investments in cool schools: The Education Law newly requires public school districts and BOCES to develop an extreme heat policy, which establishes certain temperature thresholds. NYSERDA offers additional funding to install clean cooling and heating at schools, for example through funding as part of the Clean Water, Clean Air and Green Jobs Environmental Bond Act.
- Enhanced tools and funding for cool communities: Preliminary extreme heat exposure maps and DOH’s Heat Vulnerability Index help communities understand exposure and vulnerabilities. Programs such as Climate Smart Communities fund communities in planning, designing, and implementation solutions. New and expanded funding supports nature-based solutions such as urban forests, urban farms, and community gardens to cool neighborhoods and mitigate heat islands. Governor Hochul’s New York Statewide Investment in More Swimming (NY SWIMS) initiative expanded outdoor swimming through the Connect Kids to Swimming Instruction Transportation grant program and advanced capital projects for swimming facilities in underserved communities through the NY SWIMS Round One competitive grant program.
Implementation of the Extreme Heat Action Plan

New York State also marks significant progress on the first year of implementation of the Extreme Heat Action Plan (EHAP) with the first readiness update now available. In June 2024, Governor Hochul, the State Department of Environmental Conservation (DEC), New York State Energy Research and Development Authority (NYSERDA), and the EHAP Work Group released the plan with nearly 50 actions by State agencies to address extreme heat impacts across four tracks (local planning and capacity building, community preparedness and workers’ safety, resilient buildings and access to cooling, and advancing ecosystem-based adaptations). DEC is coordinating the implementation of the plan in partnership with NYSERDA and the members of the Work Group, including the Division of Homeland Security and Emergency Services (DHSES) and the State Department of Health (DOH).

During the first year implementing the plan, State agencies made significant progress in developing new resources that help communities address impacts of extreme heat. The full update on implementation progress is available here.

Department of Environmental Conservation Commissioner Amanda Lefton said, “Extreme heat driven by our changing climate is contributing to serious public health consequences and threats to New Yorkers, particularly New Yorkers in communities of color and communities historically overburdened by pollution. DEC and our agency partners released the Extreme Heat Action Plan last year under Governor Hochul’s directive and applaud the significant programs and efforts underway to protect lives and advance efforts to ensure our communities are better prepared to respond to severe weather.”

New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “On Global Heat Action Day, New York State is strengthening its commitment to providing access to reliable, efficient, and affordable cooling solutions in communities across the state. The resources announced today show tremendous progress in implementing the Extreme Heat Action Plan, assuring all New Yorkers – including the most vulnerable – that relief will be available during the hottest months of the year.”

Staying Safe During Extreme Heat

The dangers of extreme heat can affect everyone, regardless of age, physical shape, or existing health conditions. The body works extra hard to maintain a normal temperature during extreme heat and, without taking proper measures, this can lead to heat-related illness or even death.

Division of Homeland Security and Emergency Services Commissioner Jackie Bray said, “Extreme heat can be deadly, so it’s important that New Yorkers take it seriously. Governor Hochul has made addressing extreme heat a priority as multiple days of high temperatures are becoming more common here in New York. Our state agencies have worked together to make resources available for communities and residents, including free air conditioners to help those eligible keep their homes cool and a comprehensive online tool to assist individuals looking for cooling centers. I urge everyone to prepare now for the extreme temperatures coming our way this summer.”

State Health Commissioner Dr. James McDonald said, “As extreme heat becomes more frequent and severe due to climate change, it’s critical that we equip New Yorkers with the tools and resources they need to stay safe and healthy. These new initiatives will not only expand access to cooling centers and protect vulnerable populations, but also help build healthier, more resilient communities. We’re proud to work alongside Governor Hochul and our state partners to ensure that every New Yorker, especially those most at risk, can find relief from extreme heat.”

Information about what the public can do during hot weather and how to locate cooling centers can be found on DOH’s Extreme Heat website.

The Home Energy Assistance Program (HEAP) can also provide an air conditioning unit to income-eligible households that include someone with a documented medical condition exacerbated by extreme heat, or households with young children or older adults. Applications will continue to be accepted until funding runs out. For more information, visit the Office of Temporary and Disability Assistance website or contact your local office for the aging at 1-800-342-9871.

Groups most at risk are:
- People who work outdoors or indoors without air conditioning
- Adults aged 60 years and older
- Infants, children, and those who are pregnant
- People with chronic health conditions
- Those with physical and cognitive disabilities
- Those with no access to air conditioning
- Individuals who live alone or are unhoused
- Athletes
- Pets and service animals
- People living in cities because asphalt and concrete store heat longer and release heat more slowly at night. This produces higher nighttime temperatures and is known as the “urban heat island effect.”
Another important heat safety tip is to never leave children or pets unsupervised in hot cars. There is a real and severe danger when leaving children or pets unsupervised in a car even when temperatures don’t “feel” hot. At 60 degrees outside, after just one hour a closed car can get as hot as 105 degrees.

Supporting Local Extreme Heat Action

New York State continues to make investments in programs to help mitigate extreme heat and other climate impacts. Currently, $22 million is available through the Climate Smart Communities grant program to fund climate change mitigation and adaptation projects, including for projects that help communities plan for and adapt to extreme heat. The deadline for applications is July 31, 2025. More information is available on DEC’s website.

New York State’s Climate Agenda

New York State’s climate agenda calls for an affordable and just transition to a clean energy economy that creates family-sustaining jobs, promotes economic growth through green investments, and directs a minimum of 35 percent of the benefits to disadvantaged communities. New York is advancing a suite of efforts to achieve an emissions-free economy by 2050, including in the energy, buildings, transportation, and waste sectors.

MIL OSI USA News –
June 3, 2025
MIL-OSI USA: SCHUMER STATEMENT ON COMPLETION OF ALSTOM’S $75 MILLION, 250+ JOB EXPANSION AT HORNELL CAR BODY SHELL PRODUCTION FACILITY; SENATOR SECURED $3.4 MILLION IN FED FUNDING TO BRING EXPANSION TO LIFE &…

US Senate News:

Source: United States Senator for New York Charles E Schumer

Washington, D.C. – U.S. Senator Chuck Schumer today released the following statement on the completion of Alstom’s Plant 4, a new $75 million, 250+ job expansion at its Hornell campus, to house a new state-of -art, car body shell production facility to support production of 200 new multi-level commuter cars for the Chicago Metra Commuter Rail System, and enhance the company’s competitiveness for future projects in Hornell. In 2021, Schumer helped secure $3.4 million in critical federal funding to make the construction of Alstom’s Plant 4 a reality.

“It’s full steam ahead for Plant 4, Alstom’s new Hornell cutting-edge manufacturing facility! I was proud to secure $3.4 million in federal funding to put Alstom on the fast track to expand and house this new manufacturing facility. The opening of Plant 4 today is a win-win-win for American manufacturing leadership, the Southern Tier economy, and Alstom’s powerhouse union workforce, getting even stronger with 250 new good-paying jobs,” said Senator Schumer. “Today, Alstom solidifies the Southern Tier and New York State as the beating heart for its North American operations. I’ve long fought to support Alstom’s growth in Steuben County and will continue to fight to ensure Hornell has the resources it needs to be one of the nation’s main hubs for rolling stock manufacturing.”

In 2021, after his direct advocacy, Schumer announced a $3.4 million federal grant from the Economic Development Administration to the Hornell IDA to make improvements to the Shawmut Park site to pave the way for Alstom’s facility expansion. Schumer explained that the project allowed Alstom to build one of the only U.S.-based manufactured rail car shell operations, onshoring manufacturing from overseas and bolstering the rolling stock domestic supply chain. Schumer also helped support Alstom’s successful bid to make passenger rail cars for the Chicago Metra Commuter Rail System at its Hornell facility.

Schumer, a long-standing fighter for Alstom, its workers, and the City of Hornell, has worked tirelessly to support growth at its Steuben County facility, a site that for more than 170 years has been manufacturing and servicing high-quality trains in Hornell. Through his efforts, the workforce has doubled, and the facility has expanded, cementing Alstom and Hornell’s future as a leader in rail car manufacturing in North America. He led the charge, urging USDOT to green light Amtrak’s efforts to buy brand new Next Generation High-Speed trains, a necessary step to keep Alstom’s Acela contracting opportunity on track, paving the way for them to compete and win the prestigious contract to build a replacement fleet of Acela high speed trains, adding an estimated 400 jobs at Alstom in Hornell and helping attract over 50 other supplier companies.

Most recently, he successfully delivered nearly $16 million to the Steuben County IDA, who in partnership with Alstom, Norfolk Southern Railway, and Binghamton University’s New Energy New York (NENY) consortium, will develop next generation battery technology for more energy-efficient trains.

MIL OSI USA News –

June 3, 2025
MIL-OSI United Kingdom: expert reaction to unpublished conference abstract suggesting eating rate has sustained effects on energy intake from Ultra-Processed Diets

Source: United Kingdom – Executive Government & Departments

June 2, 2025

A conference abstract presented at NUTRITION 2025 looks at eating rate and its effects on energy intake from Ultra-Processed Diets.

Dr Amanda Avery, Associate Professor in Nutrition and Dietetics, University of Nottingham, said:

“This very well considered study explores whether eating rate can make a difference to the amount of food we eat. Previous research has suggested that a 20% difference in eating rate leads to a 9-15% difference in food intake.

“In this study, the abstract being showcased at the American Nutrition conference, the researchers used two different diets using commercially prepared ultra processed foods (UPFs). One diet used UPFs with textures that meant that eating rate was slower whilst the second diet used UPFs with textures leading to faster eating rates.

“Healthy young adults, both males and females with healthy body weights were invited to take part in the study where they were then randomised to be in one ‘block’ or the second block for assignment to the diet. They were not aware which diet they were consuming when – they had one diet for two weeks, then had a two week ‘rest’ and then had the second diet for two weeks. This means that we can compare the results between individuals besides between the two groups.

“The participants were offered as much food as they wanted when on either of the two diets. Incredibly, but perhaps not surprisingly, the findings on energy intake were consistent – all participants consumed less energy from food when on the two week UPF – slow eating rate diet. The average energy intake was 369kcal/day less when people were following the slow eating rate diet.

“Whilst there were no significant differences in body weight, this is not surprising given that the study was only being conducted for a two-week period and because participants were switched from one diet to another. However if a person was choosing a diet which led to an extra 350+kcal being consumed each day, then one could expect to see associated increases in body weight over time.

“As mentioned, the study was well conducted with many reasons as to why participants may not be able to take part in the study. The researchers were keen to exclude anyone who had strict control over their food intake and also those people who were intentionally trying to reduce their body weight – thus other factors that may have contributed to the findings were limited in the study design.

“In terms of what this study adds – the study really reinforces the importance of people sitting down and taking time to enjoy their food. Eating foods quickly and ‘on the hoof’ may lead to extra energy intake which may long-term lead to weight gain. Ideally, we should be choosing foods with more texture, such as ultra-processed foods with more texture, but also balanced with vegetables, whole fruits, wholegrain cereals, beans, legumes, lean meat, fish, so that we have to chew the food. As this study has found, food with very little texture, such as certain UPFs, may lead to excess energy intake which over time may increase the risk of obesity, as demonstrated by other studies that have compared the intake of ultra processed with more minimally processed foods.”

Professor Julian Hamilton-Shield, Professor in Diabetes and Metabolic Endocrinology, University of Bristol, said:

“This study reinforces previous epidemiological, experimental and clinical trial data demonstrating that any manoeuvre to slow eating rate consistently, in this current study by meal texture, reduces an individual’s total calorie intake. Whilst it can be difficult to sustain a reduced eating speed, altering food texture that slows eating speed seems an attractive additional tool for population-based, weight management strategies.”

The abstract ‘Eating Rate has Sustained Effects on Energy Intake from Ultra-Processed Diets: A Two-Week Ad Libitum Dietary Randomized Controlled Trial’ by Ciarán G. Forde et al. was presented at the NUTRITION 2025 conference, and the embargo lifted at 19:00 UK time Monday 2 June 2025.

Declared interests

Professor Julian Hamilton-Shield: I have conducted experimental and trial studies on slowing eating speed by different methodology, finding results for calorie intake in agreement with the study being described

Dr Amanda Avery: besides my academic position, I also hold a very part-time position as Consultant dietitian in Nutrition, Research & Health Policy at Slimming World.

MIL OSI United Kingdom –

June 3, 2025
MIL-OSI USA: Schatz, Senators Call On Trump Administration To Protect ENERGY STAR Program That Lowers Energy Costs

US Senate News:

Source: United States Senator for Hawaii Brian Schatz

HONOLULU — U.S. Senator Brian Schatz (D-Hawai‘i) joined a group of his colleagues in urging the Trump Administration to immediately reverse course on its plan to illegally and unilaterally terminate the ENERGY STAR program. In their letter, the Senators highlight the cost-saving benefits of the program, which is projected to save the average American household $450 on utility bills each year simply by choosing ENERGY STAR certified products.

“The Trump administration’s plan to get rid of ENERGY STAR will make it harder for Hawai‘i families and small businesses to lower their energy costs,” said Senator Schatz. “This makes no economic or environmental sense, and the administration should reverse course immediately.”

Hawai‘i households face the highest electricity rates in the nation. The proposed dismantling of the ENERGY STAR program would be a serious setback to the state’s efforts to cut energy costs because it helps consumers determine which products are eligible for the state energy rebate program. In the last fiscal year alone, Hawai‘i Energy issued more than 16,000 residential rebates for ENERGY STAR products—reducing electricity bills by an estimated $72 million. And in 2024, 230 small businesses and nonprofits that received ENERGY STAR products through Hawai‘i Energy’s EmPOWER grant are expected to save over $1 million.

Administered by the EPA and Department of Energy, ENERGY STAR is a voluntary, market-based program that has saved consumers billions of dollars annually. The ENERGY STAR program has cumulatively reduced four billion metric tons of harmful emissions and currently supports more than 790,000 American jobs manufacturing and installing ENERGY STAR products.

The full letter can be found below and is available here.

Dear Administrator Zeldin and Secretary Wright,

For over three decades, the ENERGY STAR program has lowered Americans’ energy bills by informing consumers about energy efficient products. The program has enjoyed bipartisan support since its creation under authority of Section 103 of the Clean Air Act, most recently receiving $35.7 million in fiscal year 2025 appropriations. Reporting has indicated, however, that the Environmental Protection Agency (EPA) plans to eliminate ENERGY STAR without Congressional approval. Not only is the program protected under federal statute and thus illegal for the Administration to terminate unilaterally, but this decision also lacks basic economic sense. We write to urge you to immediately reverse course.

ENERGY STAR is a voluntary, market-based program that has saved consumers billions of dollars annually. The average American household is projected to save $450 on utility bills each year simply by choosing ENERGY STAR certified products. Since 1992, the program has reduced energy costs for American families and businesses by $500 billion, including $42 billion worth of savings in 2020 alone. All told, for every federal dollar spent on ENERGY STAR, Americans have enjoyed $350 in savings. This does not account for the broader economic and environmental benefits of the program, which has cumulatively reduced 4 billion metric tons of harmful emissions and currently supports more than 790,000 American jobs manufacturing and installing ENERGY STAR products. Additionally, housing developers and homebuilders appreciate ENERGY STAR because it communicates better performance to prospective homebuyers. Housing certified by the ENERGY STAR standard represents homes built to the highest standards, with lower energy bills that help make housing more affordable.

ENERGY STAR is the epitome of an effective public-private partnership. As the program’s administrators, EPA and the Department of Energy set qualifying energy efficiency standards for products. EPA also protects the integrity of the ENERGY STAR brand, ensuring it remains well-known, trusted, and indicative of a quality product. Appliance manufacturers then voluntarily display the ENERGY STAR label, notifying consumers that a product will reduce their energy consumption and lower utility bills. The program strengthens consumer choice by sharing critical product information.

Eliminating the ENERGY STAR program will not only raise energy costs for American families and businesses, but also inflict far-reaching economic harms, threatening industry jobs and the reliability of the grid at a time of growing demand. We again urge you to immediately reconsider eliminating this popular and effective Congressionally authorized program.

MIL OSI USA News –

June 3, 2025
MIL-OSI New Zealand: WorkSafe makes significant shift to rebalance its activities, launches road cone hotline
Source: New Zealand Government

WorkSafe makes significant shift to rebalance its activities, launches road cone hotline

As part of a broader suite of health and safety reforms, the Government has agreed to a range of changes that will significantly refocus WorkSafe from an enforcement agency to one that engages early to support businesses and individuals to manage their critical risks, Workplace Relations and Safety Minister Brooke van Velden says.

“During my public consultation, I heard many concerns from a wide range of Kiwi businesses and workers about WorkSafe’s inconsistency, culture and lack of guidance. It was a constant theme on the roadshow from all parts of the country.

“I have listened to these concerns and today I am sharpening the focus of WorkSafe to change the culture of the agency. For too long, businesses and employers have asked for more guidance and help from WorkSafe on how to comply with health and safety legislation, only to be told it’s not WorkSafe’s job.

“A culture where the regulator is feared for its punitive actions rather than appreciated for its ability to provide clear and consistent guidance is not conducive to positive outcomes in the workplace.

“Changes begin with today’s launch of WorkSafe’s road cone tipline to look into and provide guidance on instances of over-compliance in temporary traffic management,” says Ms van Velden.

The tipline will be complemented by a joint engagement programme by WorkSafe with NZTA and key industry stakeholders, educating those involved with temporary traffic management to adopt a risk-based approach.

“In addition, WorkSafe has started slashing outdated guidance documents from its website and will be updating guidance where necessary. Fifty documents have already been removed and more will follow. These documents were identified as being no longer relevant, not reflecting current practice and technology, or containing content that is covered by other more up-to-date guidance. Removing and replacing outdated guidance will make it much easier for people to find the help they’re looking for and ensures WorkSafe is giving consistent and clear advice.

“I will also restructure WorkSafe’s appropriation to increase fiscal transparency and support delivery of my expectations.

“For some time, WorkSafe has struggled to effectively articulate the cost and effectiveness of its activities, making it difficult to monitor and assess the value of activities or the merit of requests for further funding.

“To address this, I will split WorkSafe’s appropriation into four new categories
1. Supporting work health and safety practice
2. Enforcing work health and safety compliance
3. Authorising and monitoring work health and safety activities, and
4. Energy safety.
“This change will come into effect later this year and will provide a clear framework that focuses WorkSafe through change in culture and expectations,” says Ms van Velden.

“I want to make sure that the public receives a better experience in their everyday interactions with WorkSafe. The public will be able to provide feedback on the timeliness and effectiveness of WorkSafe’s guidance, inspections and other engagements. I expect this will promote continuous improvement,” says Ms van Velden.

A Letter of Expectations has been sent to WorkSafe formalising the Minister’s expectations of WorkSafe.

“I want to thank WorkSafe’s Board, Chief Executive and staff for acknowledging the work ahead, making WorkSafe’s work programme fit for purpose,” says Ms van Velden.

Notes to Editors:
- The road cone hotline will be accessible from 7am through the following link: worksafe.govt.nz/roadcones
- The Cabinet paper attached and published on Health and safety reform | Ministry of Business, Innovation & Employment under Background documents heading
- Minister’s Letter of Expectations to WorkSafe is attached, outlining more detail about these changes.
Strategic Baseline Review: Independent reviews of WorkSafe | Ministry of Business, Innovation & Employment

MIL OSI New Zealand News –
June 3, 2025

Category: Energy

Hinkley Point B power station: Have your say on permit changes

How to have your say

Background

Share this page

Updates to this page

First schools install Great British Energy solar panels

Notes to editors

Share this page

Updates to this page

Slowdown under way

No is easy, yes is hard

Go-fast federally, go-slow at state?

Where does this leave us?

Projects would improve roads, public safety, water access, and education in Kansas Third District

A lower AUD-USD exchange rate was the main contributor to higher average retail prices

Components of average retail petrol prices across the five largest cities – Australian cpl

Average retail petrol prices were higher in the smaller capital cities and on average across the regions

After initial uptick, international crude oil prices then trended downward in the quarter

Diesel prices were higher in all capital cities for the first time in four consecutive quarters

Note to editors

Background

Major £5 billion technology investment accelerates UK defence innovation in a European first

Defence Secretary, John Healey MP said:

Chancellor of the Exchequer, Rachel Reeves said:

Share this page

Updates to this page

June 2, 2025