Category: Energy

  • MIL-OSI Europe: Highlights – Sustainable Housing and the Energy Transition – Special committee on the Housing Crisis in the European Union

    Source: European Parliament

    On 2 June 2025, from 15:30 to 17:30, the HOUS Special Committee will hold a public hearing on ‘Sustainable Housing and the Energy Transition: Affordable solutions for Climate – Resilient Homes’.

    The purpose of the hearing is to bring together HOUS Members with experts and stakeholders to reflect on one of the most pressing and complex challenges of our time: how to ensure access to affordable, sustainable, and energy-efficient housing while advancing Europe’s climate objectives. The hearing will be the opportunity to discuss how to ensure that the transformation of the housing sector can be inclusive and balanced, ensuring that no one is left behind.

    The public hearing will be structured around two panels. In the first panel experts will explore innovation and planning for sustainable and energy-efficient housing. The second panel will focus on affordability in the energy transition and how to balance goals and needs.

    MIL OSI Europe News

  • MIL-OSI Russia: EU to miss 2030 climate target by 1 percentage point

    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

    BRUSSELS, May 28 (Xinhua) — The European Union will miss its legally binding target of cutting greenhouse gas emissions by 55 percent by 2030 and will fall behind by about 1 percentage point, the European Commission said Wednesday.

    In its assessment of the final National Energy and Climate Plans submitted by Member States, the Commission found that existing and planned measures would reduce net emissions in the EU by around 54% compared to 1990 levels by 2030. This is 1 percentage point less than the 55% reduction target set by the EU Climate Law.

    Under the law, the EU aims to become climate neutral by 2050, with an interim target of reducing emissions by at least 55 percent by 2030. –0–

    MIL OSI Russia News

  • MIL-OSI China: Full Text: Joint Statement of the ASEAN-China-GCC Summit

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

    KUALA LUMPUR, May 28 — The following is the full text of the Joint Statement of the Summit of the Association of Southeast Asian Nations (ASEAN), the Cooperation Council for the Arab States of the Gulf (GCC) and China released on Tuesday:

    Joint Statement of the ASEAN-China-GCC Summit

    WE, the Member States of the Association of Southeast Asian Nations, the Cooperation Council for the Arab States of the Gulf, and the People’s Republic of China, gathered on the occasion of the ASEAN-China-GCC Summit on 27 May 2025, in Kuala Lumpur, Malaysia;

    ACKNOWLEDGING the long-lasting and deeply-rooted historical and civilizational linkage and economic ties among ASEAN, China and GCC;

    RECOGNIZING the close and mutually-beneficial economic collaboration and cooperation among ASEAN, China and GCC;

    REAFFIRMING our desire to further promote ASEAN-China-GCC relations, guided by fundamental principles and shared values, norms and commitments, including those enunciated in the United Nations Charter;

    UNDERSCORING the importance of regionalism and multilateralism, regional unity and international law in addressing shared challenges, while upholding ASEAN centrality in the evolving regional architecture to foster peace, stability, development and prosperity;

    UNDERSCORING the importance of GCC’s critical role to foster peace, security, stability, development, prosperity and dialogue;

    APPRECIATING China’s crucial role in promoting peace, stability, prosperity and sustainable development in regional and international affairs;

    ENDEAVORING to promote peace, security, stability and prosperity, through mutual respect and cooperation between countries and regions to achieve development and progress based on adherence to international law, including the UN Charter, the principles of good neighbourliness, and respect for the independence, sovereignty, equality and territorial integrity, non-interference in their internal affairs, and refraining from the threat or use of force, and settlement of differences or disputes by peaceful means;

    ACKNOWLEDGING the importance of strengthening relations among ASEAN, China and GCC in promoting regional cooperation and economic development in the broader Asia-Pacific and Middle Eastern contexts;

    RECOGNIZING that ASEAN, China and GCC encompass diverse and complementary economies which create enormous potential, broad prospects and new opportunities for greater cross-sectoral trade, investment and economic collaboration;

    RECOGNIZING the increasing importance of fostering closer economic collaboration among our regions, and reiterating our shared commitment to strengthening our partnerships to promote economic and sustainable development;

    RECOGNIZING the need to strengthen confidence in the rules-based multilateral trading system with the World Trade Organization (WTO) at its core to protect businesses, consumers worldwide and livelihoods of people in our regions;

    REAFFIRMING our resolve to enhance economic resilience and environmental sustainability, and make economic globalization more open, inclusive, balanced, and beneficial to our peoples and future generations;

    ACKNOWLEDGING our joint efforts to promote closer cooperation between ASEAN, China and GCC and China’s vision to build a closer China-ASEAN Community with a shared future and a China-Arab Community with a shared future in the new era;

    EXPLORING cooperation in preventing and combating transnational crime, cybercrime, counter-terrorism and extremism;

    The Leaders expressed grave concerns over the developments in the Middle East and agreed on the following:

    — Condemn all attacks against civilians and call for a durable ceasefire and for all concerned parties to ensure the most effective and efficient access for humanitarian aid, and relief supplies and other basic necessities and essential services, as well as the restoration of electricity and water, and allow the unhindered delivery of fuel, food and medicine throughout Gaza;

    — Call on all parties to the conflict to protect civilians, refrain from targeting them and to abide by international humanitarian law, particularly the principles and provisions of the Geneva Convention relative to the Protection of Civilian Persons in Time of War of 12 August 1949;

    — Acknowledge the Advisory Opinion of the International Court of Justice on 19 July 2024, which is of the opinion, among others, that the UN, and especially the General Assembly, which requested this opinion, and the Security Council, should consider the precise modalities and further action required to bring to an end as rapidly as possible the unlawful presence of the State of Israel in the Occupied Palestinian Territory;

    — Support the ongoing efforts to release all hostages and those under arbitrary detention;

    — Urge all parties concerned to work towards a peaceful resolution to the conflict with a view to realizing the two-state solution based on the pre-1967 borders; in accordance with international law and the relevant UN Security Council (UNSC) and UN General Assembly resolutions, including UNGA resolution A/RES/ES-10/23 on the Admission on New Members to the UN dated 10 May 2024;

    — Support the efforts of the global alliance for the implementation of the two-state solution, and note the initiatives of the Kingdom of Saudi Arabia in cooperation with the Kingdom of Norway and the European Union towards realizing an independent Palestinian state;

    — Recognized Qatar’s mediation efforts to reach ceasefire and facilitate aid delivery and China’s efforts towards Palestinian internal reconciliation, particularly its role in facilitating the signing of the Beijing Declaration on Ending Division and Strengthening Palestinian National Unity by Palestinian factions in July 2024 in Beijing;

    — Welcome the Resolution of the UN General Assembly adopted on 11 December 2024, in which the General Assembly, inter alia, called for an immediate, unconditional and permanent ceasefire in Gaza, and called upon all parties to enable the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) to carry out its mandate, as adopted by the General Assembly, in all areas of operation with full respect for the humanitarian principles of humanity, neutrality, impartiality and independence.

    With firm resolve, we pledged to advance the spirit of inclusivity, sustainability, resilience and equal partnership, charting a united and collective path toward a peaceful, prosperous and equitable future.

    We hereby:

    Economic Integration

    1. Decide to foster collaboration that promotes economic prosperity, resilience and sustainable development among ASEAN, China and GCC, based on mutual respect, mutual trust, and mutual benefit, and anchored on the principles of inclusivity and sustainability in engaging all interested partners.

    2. Commit to enhancing economic cooperation by leveraging the complementarities among ASEAN, China and GCC. Priority will be given to:

    (i) Reaffirming the central and indispensable role of the WTO at the core of the rules-based multilateral trading system, which provides a predictable, transparent, non-discriminatory and open global trading system;

    (ii) Exploring cooperation, including through the priority areas of the Global Development Initiative and various frameworks or initiatives by ASEAN and GCC, to facilitate the attainment of the UN 2030 Agenda for Sustainable Development;

    (iii) Promoting free trade and welcoming the full conclusion of the China-ASEAN Free Trade Area 3.0 Upgrade Negotiations, and looking forward to its early signing and entering into force, as well as an early conclusion of the China-GCC Free Trade Agreement negotiations;

    (iv) Enhancing industrial and supply chain resilience and fostering sustainable trade practices for new economic opportunities in potential areas in emerging and future-oriented industries such as the digital and green economy and technologies;

    (v) Exploring the establishment of a regional business council to facilitate dialogue between businesses from ASEAN, China and GCC in supporting enhanced trade and investment flows and the development of regional value chains;

    (vi) Exploring regional financial cooperation, including capital markets, and financial technology among others, while empowering micro, small and medium enterprises;

    (vii) Exploring cooperation on local currency and cross-border payments;

    (viii) Taking coordinated and comprehensive actions to prevent and fight corruption.

    Connectivity

    3. Enhance connectivity through:

    (i) Promoting high-quality cooperation under the Belt and Road Initiative and seamless connectivity, including through the development of logistics corridors and digital platforms;

    (ii) Promoting sustainable infrastructure development in supporting interconnected and seamless economic diversification, growth and sustainability;

    (iii) Exploring further cooperation to enhance infrastructure development for seamless and efficient connectivity, including recognizing the importance of maintaining and promoting maritime safety and security, given the importance of oceans and seas as key factors in driving growth and prosperity in the respective regions.

    Energy Security and Sustainability

    4. Acknowledge the global imperative for sustainable resilience and energy transition with the aim to collaborate on:

    (i) Working together towards a sustainable, just, affordable, inclusive and orderly energy transitions in line with the Paris Agreement;

    (ii) Supporting global energy market stability and adopting a balanced approach that does not exclude energy sources but instead innovates technologies that enable emissions management and efficient use of all energy sources to facilitate sustainable economic growth for all;

    (iii) Working to diversify and secure supply chains globally in line with international best practices, including for critical energy transition minerals, and encourage resource efficiency, while respecting applicable national laws and regulations;

    (iv) Recognizing the strategic importance of our cooperation on stable, reliable, and sustainable energy markets to reduce volatility and to enhance the security of energy supply. We recall the urgent need to address climate change and stress the importance of the energy transition;

    (v) Exploring new business opportunities, including the development of clean energy;

    (vi) Enhancing knowledge exchange and collaboration on renewable energy, clean/green energy, carbon capture, utilization and storage (CCUS), biofuel, bio-LNG (liquefied natural gas), low carbon hydrogen, low carbon ammonia, and sustainable fuels, as well as energy efficiency policies, regulatory frameworks, technology and innovations consistent with the national priorities of each country;

    (vii) Strengthening training and capacity-building initiatives in areas such as nuclear safety, security and safeguards, reactor technology, nuclear and radioactive waste management, regulatory infrastructure, and civilian nuclear energy development that is guided by International Atomic Energy Agency (IAEA) standards, guidance and international best practices, and advancements in and energy storage technologies to support informed decision-making and policy development for civilian nuclear energy;

    (viii) Driving the strategic development of initiatives on hydrogen and ammonia technologies, oil and LNG supply chains and infrastructure, upstream LNG projects, methane abatement and emissions reduction to support both energy security and the transition to cleaner fuels;

    (ix) Encouraging private and public sector investments and partnerships in energy infrastructure development, including subsea power cables, and cross-border transmission projects under related initiatives of ASEAN, China and GCC, to advance multilateral power trade for greater regional energy connectivity, resilience, and market integration, including through renewable energy generation and LNG terminals;

    (x) Promoting cooperation on environmental sustainability, including climate action, disaster management, biodiversity conservation, monitoring the state of the marine environment, air and soil quality, industrial inspection, and pollution control by leveraging on new technological advancements, the exchange of knowledge, scientific expertise, technology, and training and strengthening multilateralism and climate solidarity;

    (xi) Developing joint research and innovation initiatives on emerging technologies such as direct air capture, enhanced geothermal systems, and next-generation solar and wind technologies to support long-term energy sustainability and low-carbon solutions;

    (xii) Sharing of knowledge and best practices on green skills development of workforce to support just transition to renewable energy.

    Digital Transformation and Innovation

    5. Pursue opportunities in digital innovation and technology by:

    (i) Exploring a cross-regional framework to promote the digital economy, in areas such as digital trade, e-commerce, digital payment, fintech, artificial intelligence, start-ups and data security cooperation;

    (ii) Exploring partnerships in areas such as artificial intelligence (AI), blockchain, quantum computing, and smart cities development and advanced technological infrastructure;

    (iii) Supporting cooperation in the development of digital skills and digital literacy programmes to ensure inclusive participation in the digital age, and promoting platform work with inclusive social protection.

    Food and Agriculture

    6. Recognize the potential for cooperation in the food and agriculture sector and commit to:

    (i) Promoting sustainable agriculture, including through reducing harmful agrochemicals, promoting digitalization, advancing nature-based solutions and fostering public-private partnerships;

    (ii) Exploring cooperation in the field of halal food through the exchange of information and sharing of experiences on the basis of mutual respect for each other’s national systems, laws and policies;

    (iii) Supporting efforts to strengthen food security, nutrition and distribution, including through enhancing productivity and sustainability efforts, promoting the diversification of food sources, strengthening the quality and variety of food production, and supporting the generation and diffusion of new and sustainable technologies;

    (iv) Promoting the trade of food and agricultural products and technologies cooperation.

    People-to-People Exchange

    7. Foster greater understanding and connectivity among our peoples by:

    (i) Promoting high-quality tourism and cross-regional marketing campaigns, including culture and heritage tourism, ecotourism, and meetings, incentives, conferences, and exhibitions tourism, among other segments, and fostering an exchange of best practices in tourism digitalization and tourism destination management;

    (ii) Promoting exchanges and mutual learning among civilizations and cultures to advance mutual understanding and friendship as well as respect for diversity and welcoming the adoption of the UN General Assembly Resolution of International Day for Dialogue among Civilizations;

    (iii) Exploring opportunities to enhance mutual understanding and friendship while fostering cultural exchanges through art, music and literature programmes, especially among youth and ethnic groups;

    (iv) Strengthening cooperation in education through the exchanges of students and educational personnel, scholarships programmes and joint research initiatives, particularly in science, technology, engineering and mathematics (STEM).

    8. Implement the Joint Statement through mutually agreed activities among ASEAN, China and GCC, including through existing mechanisms such as the ASEAN-GCC, China-ASEAN and China-GCC mechanisms.

    9. Reaffirm our collective resolve to work hand-in-hand to unlock the full potential of our partnership, and to ensure that our cooperation translates into tangible benefits for our peoples and communities.

    10. Welcome the third Asia Cooperation Dialogue Summit in Doha on 3 October 2024;

    11. Note ASEAN’s initiatives on its priority areas, such as:

    — ASEAN 2045: Our Shared Future;

    — ASEAN Outlook on the Indo-Pacific (AOIP);

    — The ASEAN Power Grid;

    — Trans-ASEAN Gas Pipeline (TAGP);

    — The Action Plan on Sustainable Agriculture in ASEAN.

    12. Note GCC’s initiatives on its priority areas, such as:

    — The Global Logistics Forum held in Riyadh, Saudi Arabia, 12-14 October 2024;

    — The First Global Food Security Summit in Abu Dhabi, UAE, 25-26 November 2024;

    — United Nations Convention to Combat Desertification (COP16), Riyadh, Saudi Arabia, December 2024;

    — Sustainable Development Week in Abu Dhabi, UAE, January 2025;

    — International Conference in Support of Syria 2025;

    — The International Conference on Food Security in Yemen, 27-28 October 2025;

    — United Nations Water Conference in Abu Dhabi, UAE, December 2026;

    — The Shaikh Tamim bin Hamad Al Thani International Award for Excellence in Combating Corruption;

    — The establishment of the Global Water Organization in Riyadh, Saudi Arabia;

    — High-level international conference for peaceful settlement of the Palestinian issue, to be co-chaired by Saudi Arabia and France, in June 2025;

    — Saudi Arabia’s Middle East Green Initiative.

    MIL OSI China News

  • MIL-OSI United Nations: UNECE and ESCAP Convene Regional Stakeholder Consultations on Energy Connectivity in Central Asia

    Source: United Nations Economic Commission for Europe

    As part of the joint Programme on Energy Connectivity in Central Asia and the Caucasus, the United Nations Economic Commission for Europe (UNECE) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) hosted regional stakeholder consultations in Astana, Kazakhstan, to explore pathways for financing enhanced energy connectivity in Central Asia. 

    Held in a hybrid format on the margins of the Astana International Forum (AIF), the consultations gathered more than 50 policymakers and energy experts from Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan to discuss achievements made to date within the programme and to examine strategies for strengthening regional energy integration, improving system resilience, and advancing low-carbon transitions. It featured discussions on financing cross-border infrastructure, implications of fossil fuel subsidies and carbon pricing, the EU’s Carbon Border Adjustment Mechanism (CBAM), and the impact of water availability on energy transition in Central Asia. 

    Preliminary programme findings suggest that improved energy connectivity in the region could yield up to USD 1.4 billion in annual electricity production savings and reduce greenhouse gas emissions by approximately 3% per year by 2050.  

    “As emphasized by ESCAP’s Regional Road Map on Power System Connectivity, regional energy connectivity with a focus on power grids is key strategy for advancing energy sustainability and security” emphasised Hongpeng Liu, Director of Energy Division ESCAP.   

    “Deeper integration of energy systems has clear economic and environmental benefits for Central Asian countries. Add to this a matter of energy security and greater opportunities for economic growth – and you will get an important piece of the energy transition puzzle which we will encourage our member States to adopt in their national and regional development strategies focusing on unlocking investments for renewables and cross-border infrastructure,” says Dario Liguti, Director of the UNECE Sustainable Energy Division. 

    The event built on two ongoing projects under the UN Development Account and with the support of the GIZ on behalf of the German Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (BMUV). This joint UNECE-ESCAP initiative forms part of broader efforts under the cross-Regional Commissions’ work to enhance energy security and resilience through regional integration, technical cooperation, and inclusive stakeholder engagement. 

    MIL OSI United Nations News

  • MIL-OSI Banking: Samsung Launches One UI 8 Beta Program: The First-Generation Upgrade Starting With the New Galaxy Foldables

    Source: Samsung

    One UI 8 is coming, and early access is now available through its beta program — kicking off a new era of software intelligence that brings a true multimodal AI agent designed for various Samsung Galaxy form factors.
     
    One UI is Samsung’s integrated software platform, designed to help Galaxy devices simplify everyday routines and enhance productivity and convenience. Thanks to the mutual partnership between Samsung and Google, One UI 8 will debut on Samsung’s newest foldables this summer and will gradually expand to more Galaxy devices so users can now enjoy an enriched, more personalized mobile experience with the latest version of Android.
     
    Through open communication, Samsung and Google actively shared their respective design systems and real-time feedback with one another, accelerating software development that made One UI 8 one of the first UI platforms to adopt Android 16.
     
    In addition to being the first generation of upgrades to launch alongside new foldable devices, the launch of One UI 8 also initiates a new rhythm for Samsung’s software evolution with major UX and AI updates. You can get a first glimpse of this innovation by signing up for the beta program kicking off today, starting with the Galaxy S25, S25+ and S25 Ultra in Germany, Korea, the United Kingdom and the United States.
     
     
    Personalized AI for Seamless, Natural Interactions

     
    The official rollout of One UI 8 will introduce an AI experience that will make your everyday smarter and more convenient by enhancing the AI features first introduced in the Galaxy S25 series. There are three main factors that realize this: multimodal capabilities, UX tailored to different device form factors, and personalized, proactive suggestions. Intelligent multimodality enables you to have natural, seamless communication with AI that understands what you’re looking at or watching in the moment. The updated UX is optimized for the unique form factors across the Galaxy product portfolio, boosting your everyday productivity and efficiency. One UI 8 will also recognize your context, offering personalized, proactive suggestions that support your unique daily routine. Features like Now Bar1 and Now Brief2 will deliver even more customized insights and suggestions to help you stay on top of tasks and support your daily routine, through curated AI information.
     
    This intelligent, personalized AI experience did not just come out of nowhere. It is made possible by robust security that safeguards your data. Samsung Knox Vault combines a dedicated secure processor with secure memory to isolate sensitive data from the rest of your user data and ensure that no one else can physically or remotely reach your personal information. One UI 8 also provides settings where you can choose to process data only on the device, as many of our Galaxy AI experiences use both on-device and cloud-based AI processing. With transparency and user choice at its core, One UI 8 will deliver a personalized AI experience without compromising privacy.
     
     
    Enhanced Everyday Convenience

     
    One UI 8 is not only about providing the AI experience, but also includes convenient, intuitive tools designed to make your day-to-day experiences with your mobile devices even more seamless. Auracast3 — a broadcast audio technology based on Bluetooth LE Audio4  — will support effortless audio connection via QR code scanning and sharing, allowing multiple Auracast devices5 — like Galaxy Buds3 and hearing aids — to join a shared audio stream without the hassle of a complex manual setup. Additionally, customer support at repair centers will be faster and more convenient, thanks to QR- and NFC-enabled support6 accessible right in Samsung Account. You can now register with QR or NFC without having to write any registration forms, reducing wait times and simplifying service requests.

     
    The Reminder app will be your travel supporter with more convenient and intuitive features. If you are planning a trip to New York with your family, you can manage all your reminders in one place as soon as you open the app with a UX that is easy-looking even for first-time users. You can also share a list of to-dos for your trip with the press of a button. When your hands are full of shopping bags, you can use your voice to add reminders on the go as it is voice enabled.
     
    Sharing memories with family and friends will also be easier than ever with enhanced Quick Share.7 A single tap of the Quick Share button in the Quick settings panel will let you instantly send and receive files.
     
    The future of Galaxy AI starts now. Sign up through the Samsung Members app to be among the first to experience the power of One UI 8.
     
     
    1 Availability of functions supported may vary by country and model. Some functions may require a network connection and/or Samsung Account login.
    2 Now Brief feature requires a Samsung Account login. Service availability may vary by country, language, device model or apps. Some features may require a network connection.
    3 The quality of the Auracast audio stream may vary depending on the application, network connection and other factors.
    4 Available on devices with Bluetooth 5.2 and above that support Auracast.
    5 Auracast Transmitter/Assistant supported devices: Samsung Galaxy flagship smartphones, tablets released in 2023 or later with Samsung One UI version 6.1 or above. Auracast Receiver supported devices: Galaxy Buds3, Buds3 Pro, Buds2 Pro. May require software update. Availability may vary by market and model.
    6 Available on 36 countries: U.S., Argentina, Austria, Brazil, Chile, Colombia, Czech Republic, Ecuador, France, Greece, Guatemala, Hungary, India, Indonesia, Kenya, Korea, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Pakistan, Panama, Peru, Philippines, Poland, Portugal, Singapore, South Africa, Spain, Taiwan, Thailand, Türkiye, Ukraine, Uzbekistan, Vietnam. Availability may vary by country. The feature availability will expand to more countries via further updates. The feature is available in limited number of repair shops, and will be expanded further afterwards. Available on with Android 10 or above, NFC availability may vary by device, Samsung Account app is available on devices with Android 10 or above. Availability may vary by NFC Memory support availability.
    7 Bluetooth Low Energy and Wi-Fi connection are both required for Quick Share. Number of devices Quick Share can share to at the same time may vary depending on the Wi-Fi chip hardware of the sharing device. Actual speed may vary depending on device, network condition and user environment.

    MIL OSI Global Banks

  • MIL-OSI: The UK, the Netherlands, Egypt and Saudi Arabia among likely winners in the changing world order

    Source: GlobeNewswire (MIL-OSI)

    LONDON, May 28, 2025 (GLOBE NEWSWIRE) — The Global Business Complexity Index (GBCI) studies over 250 indicators of complexity in 79 jurisdictions that represent 94% of the world’s GDP. The complexity that the report measures is a dead-weight burden on business that stifles local innovation and deters foreign direct investment with no obvious societal benefit. The report has consistently shown that countries in Southern Europe and Latin America are the most complex for doing business and that continues to be true in 2025. At the other end of the scale, the least complex places to do business tend to be in Northern Europe and several of the offshore investment hubs. These all compete for investment on the basis of the ease of doing business there and have adopted less onerous requirements, as well as more efficient ways for firms to manage them.

    The report notes that complexity is relatively straightforward to navigate, at least for larger multinationals able to absorb the cost of complying with local rules. What is much harder to deal with is uncertainty. US-led sanctions, lockdowns in China and the Suez blockage had already begun a shift in globalisation towards more diversified supply chains, with companies seeking to reduce their reliance on single countries for sourcing, building or selling their products. A part of that solution noted in last year’s report was the rise of connector economies like Mexico, Philippines and Vietnam, bridging trade between China and the US in the so-called ‘China plus one’ strategy. That strategy has now fallen foul of US tariffs, set to reflect a country’s trade surplus in goods with the US and so punishing countries with connector status.

    Even if tariffs abate, their launch and rapid shifts point to an underlying risk for companies trading from countries with a high US trade surplus. The report notes a drop in confidence in stability, with the majority of jurisdictions (55%) reporting prioritisation of trade corridor diversity. It identifies a number of countries that might now emerge as the new connectors — with low levels of complexity pointing to business-friendly rules, a low US trade surplus pointing to less likely retaliatory action, a reasonable size and sophistication of economy to support a variety of activity at scale and absorb investment without tipping heavily into US trade surplus, and a multipolar stance that should allow them to trade across different blocs. Those countries include the UK and the Netherlands in Europe, Egypt and Saudi Arabia in the Middle East and Australia and Hong Kong in Asia Pacific.

    The report finally notes that at a time of great uncertainty for global trade — and in particular, trade with the US — governments should focus on making their countries less complex places to do business whilst seeking trade agreements across different blocs to encourage cross-investment. It also notes that companies will need to further diversify their supply chains. That will add to their internal complexity and costs. At the same time, companies can help themselves by simplifying their arrangements for managing those supply chains, with many having excessive numbers of legal entities for their geographic scope along with large numbers of suppliers to help manage them.

    TMF Group’s CEO Mark Weil, said:

    “The real challenge for businesses today isn’t complexity, it’s uncertainty. With rising trade tensions, a shifting geopolitical landscape and economic unpredictability, companies are forced to make decisions in an environment that can change overnight. Tariffs are just the latest signal of the risks of supply chain concentration. Diversification is a necessity in this context, although it comes with a cost. The good news is that businesses can offset some of the complexities of diversification by reducing their own internal intricacies. Our benchmarking reveals stark differences in structural complexity among similar firms. We see an opportunity here: by simplifying their structures and support models — for example, by having fewer legal entities and a few trusted global partners — businesses can gain flexibility. Done right, this can improve efficiency and agility as firms navigate an uncertain world.”

    Media Contacts
    Marina Llibre Martin, Global PR Manager
    marina.llibremartin@tmf-group.com

    The MIL Network

  • MIL-OSI Economics: Media release: Australia’s oil and gas industry welcomes Sussan Ley’s new Shadow Cabinet – Australian Energy Producers

    Source: Australian Petroleum Production & Exploration Association

    Headline: Media release: Australia’s oil and gas industry welcomes Sussan Ley’s new Shadow Cabinet – Australian Energy Producers

    Australia’s oil and gas industry congratulates Opposition Leader Sussan Ley’s new Shadow Ministry and looks forward to working with the Coalition on policies that deliver more gas supply and investment for Australia’s energy security and economic growth.

    Australian Energy Producers Chief Executive Samantha McCulloch welcomed the re-appointment of Shadow Minister for Resources and Northern Australia Susan McDonald.

    “Senator McDonald has been a strong advocate for the resources sector and regional Australia, and brings deep understanding of the critical role of gas in supporting jobs and energy security,” Ms McCulloch said.

    “Her work as Shadow Minister for Resources and Northern Australia has highlighted the importance of a stable and competitive investment environment to unlock Australia’s resource potential and drive future economic growth.”

    Ms McCulloch also welcomed the appointments of Shadow Minister for Energy and Emissions Reduction Dan Tehan, Shadow Treasurer Ted O’Brien, Shadow Minister for Environment Angie Bell and Shadow Minister for Industry and Innovation Alex Hawke.

    “Dan Tehan’s experience in senior ministerial roles brings a valuable perspective to national energy policy, and we look forward to working with him as he takes on this important portfolio. His electorate of Wannon runs on natural gas, providing energy to critical local industries like dairy and manufacturing.”

    Industry stands ready to work with both major parties to implement bipartisan policies that will:

    • Boost Australian gas supply to ease cost of living pressures
    • Restore Australia’s global competitiveness for investment
    • Deliver real emissions reductions with gas and carbon capture, utilisation and storage (CCUS)
    • Remain a reliable energy partner in our region

    “The next term of Parliament presents an opportunity for industry to work with the Government and Opposition to deliver enduring reforms to boost productivity and investment, to ensure reliable and affordable energy for Australians,” Ms McCulloch said.

    Media contact: 0434 631 511

    MIL OSI Economics

  • MIL-Evening Report: Green light for gas: North West Shelf gas plant cleared to run until 2070

    Source: The Conversation (Au and NZ) – By Samantha Hepburn, Professor, Deakin Law School, Deakin University

    Franklin64/Shutterstock

    In a decision surprising very few people, Australia’s new environment minister Murray Watt has signed off on an extension for the gas plant at Karratha, part of the enormous North West Shelf liquefied natural gas project.

    The decision had been deferred until after the federal election, given significant environmental concerns around the project.

    This approval means the gas plant at Karratha can now keep running until 2070. The Woodside-operated project has helped to shape Australia’s reputation as one of the biggest suppliers of LNG in the world.

    Watt did not have to consider climate impacts, but rather what damage the extension might do to ancient rock art as well as economic and social matters. His approval is “subject to strict conditions”, which largely focus on air emissions from the project. Critics claim the extension will threaten irreplaceable 50,000 year old rock carvings and petroglyphs.

    The decision will enrage environmentalists. If the project continues to operate, it has been estimated to generate four billion tonnes of greenhouse gas emissions over 50 years.

    Australia has committed to reach net zero emissions by 2050. But the majority of the gas extracted from the North West Shelf will be exported, meaning the huge emissions generated from its extraction, liquefaction, transportation and burning will not be counted domestically.

    But while the Karratha plant now has a lifeline, there’s still an open question about where the gas will come from. For decades, the plant has processed gas from the North Rankin, Perseus and Goodwyn gasfields offshore. These are now running out.

    The main purpose of extending the Karratha plant’s lifespan would be to process gas extracted from giant new gasfields lying underneath the pristine Scott Reef. Approval to open these gasfields has not yet been given because of the significant concerns extraction will damage the reefs.

    What is the North West Shelf Project?

    The North West Shelf development has been operational since the 1980s. Gas is extracted from huge basins located off the Pilbara coast and processed at the Karratha plant on the Burrup Peninsula.

    To date, only a third of the 33 trillion cubic feet of gas in this basin has been extracted.

    Woodside Petroleum is the project operator, holding a one-third shareholding along with Chevron and Shell in what is known as the North West Shelf Joint Venture.

    The project is the largest producer of domestic gas in Western Australia, providing almost two-thirds of the state’s consumption. In the 2023-2024 financial year, it produced gas worth about A$70 billion.

    Domestic consumers are paying much more for this gas than their international counterparts. For example, a $25 billion contract entered into with China in 2002 includes a guarantee prices will remain the same until 2031.

    With the rapid escalation of gas prices, this means China is paying a third of the price paid by domestic consumers. Other markets for the gas include Japan and South Korea, which lack domestic gas resources.

    The Karratha plant has been cleared to run until 2070.
    Hans Wismeijer/Shutterstock

    The ‘transition fuel’ worse than coal

    Gas has long been touted as a transition fuel in a decarbonising economy. But this is questionable on several fronts.

    Rather than replacing coal, LNG may actually be displacing renewables.

    Worse, a recent study showed emissions from LNG are 33% higher than coal over a 20 year period when extraction, piping to a processing facility, compression, shipping, decompression and burning for energy are considered. “Ending the use of LNG should be a global priority,” the report concludes.

    Turning methane-heavy natural gas into a liquid to allow it to be shipped overseas is energy intensive. Large leaks of methane from wells and pipes are common during extraction and transport. When the gas is finally burned to generate energy, it produces carbon dioxide.

    In China, coal’s share of electricity production has been eroded by renewables but not by LNG, according to the Institute for Energy Economics and Financial Analysis.

    From a big picture point of view, climate commitments can’t be met if high-emitting infrastructure keeps being commissioned. Alongside stopping the expansion of fossil fuel projects, existing fossil fuel infrastructure must be retired or retrofitted with cleaner technology.

    Eroding ancient rock art

    The project’s processing plant is located on the Burrup Peninsula, also known as Murujaga. But this peninsula also has about 500,000 rock carvings by First Nations groups, the densest concentration in the world. In 2023, former environment minister Tanya Plibersek announced a bid to give this area World Heritage listing.

    In a new draft decision, the United Nations World Heritage Committee flagged concerns over the bid and referred it back to the Australian government to “ensure the total removal of degrading acidic emissions” and “prevent any further industrial development” near the petroglyphs.

    Gas production and ancient rock art are poorly matched. Research suggests processing plant gases such as nitrogen dioxide, sulphur dioxide and ammonia have been gradually eroding the fragile petroglyphs for decades. Successive state and federal governments have failed to act to safeguard this area.

    Gas projects seem untouchable

    Approving the North West Shelf extension is a disaster for the environment, our climate commitments and the fragile and irreplaceable rock art in Murujuga.

    It would seem that despite well-founded concerns on many fronts, big gas projects in Australia are all but untouchable.

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

    ref. Green light for gas: North West Shelf gas plant cleared to run until 2070 – https://theconversation.com/green-light-for-gas-north-west-shelf-gas-plant-cleared-to-run-until-2070-257008

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: Longest period in band on record for monthly inflation

    Source: Australian Parliamentary Secretary to the Minister for Industry

    New figures from the ABS show that headline and underlying inflation remained in the Reserve Bank of Australia’s target band in April.

    Today’s result is another demonstration of the substantial and sustained progress we have made on inflation.

    Headline inflation was 2.4 per cent through the year to April 2025, unchanged from March.

    Annual Trimmed Mean inflation was 2.8 per cent.

    Monthly headline inflation has been in the band for nine consecutive months and underlying inflation has been in the band for five consecutive months.

    We know that these monthly numbers are volatile and can bounce around but the direction of travel on inflation is clear.

    Another month of CPI in the band is a welcome and encouraging sign that inflation is moderating sustainably.

    This is the longest period that both headline and underlying inflation have been in the band since the monthly inflation series began in 2018.

    Under Labor, inflation is down substantially, real wages are up, unemployment is low, our economy is growing, debt is down and interest rates are falling.

    On the official quarterly numbers, the March quarter was the first time since records began that unemployment has been in the low 4s and headline and underlying inflation have both been in the target band.

    Today’s data is more evidence we are in better shape to face the uncertainty in the global economy than almost any other advanced economy with inflation rising recently in countries like the UK and Japan.

    Electricity prices fell 6.5 cent in the year to April but would have risen 1.5 per cent without the energy rebates for every household we are rolling out with the states.

    Rents rose 5.0 per cent in the year but would have increased 6.1 per cent without the recent increases to Commonwealth Rent Assistance.

    Even with this substantial progress and two interest rate cuts in three months, we know people are still under pressure and we face global economic headwinds.

    That’s why the Albanese Government’s economic strategy has been all about getting on top of inflation while maintaining the gains in the labour market and ensuring the economy continues to grow.

    All of the progress that Australians have made together means that we are well placed and well prepared for heightened uncertainty and volatility in the global economy.

    MIL OSI News

  • MIL-Evening Report: There’s a new COVID variant driving up infections. A virologist explains what to know about NB.1.8.1

    Source: The Conversation (Au and NZ) – By Lara Herrero, Associate Professor and Research Leader in Virology and Infectious Disease, Griffith University

    VioletaStoimenova/Getty Images

    As we enter the colder months in Australia, COVID is making headlines again, this time due to the emergence of a new variant: NB.1.8.1.

    Last week, the World Health Organization designated NB.1.8.1 as a “variant under monitoring”, owing to its growing global spread and some notable characteristics which could set it apart from earlier variants.

    So what do you need to know about this new variant?

    The current COVID situation

    More than five years since COVID was initially declared a pandemic, we’re still experiencing regular waves of infections.

    It’s more difficult to track the occurrence of the virus nowadays, as fewer people are testing and reporting infections. But available data suggests in late May 2025, case numbers in Australia were ticking upwards.

    Genomic sequencing has confirmed NB.1.8.1 is among the circulating strains in Australia, and generally increasing. Of cases sequenced up to May 6 across Australia, NB.1.8.1 ranged from less than 10% in South Australia to more than 40% in Victoria.

    Wastewater surveillance in Western Australia has determined NB.1.8.1 is now the dominant variant in wastewater samples collected in Perth.

    Internationally NB.1.8.1 is also growing. By late April 2025, it comprised roughly 10.7% of all submitted sequences – up from just 2.5% four weeks prior. While the absolute number of cases sequenced was still modest, this consistent upward trend has prompted closer monitoring by international public health agencies.

    NB.1.8.1 has been spreading particularly in Asia – it was the dominant variant in Hong Kong and China at the end of April.


    Lara Herrero, created using BioRender

    Where does this variant come from?

    According to the WHO, NB.1.8.1 was first detected from samples collected in January 2025.

    It’s a sublineage of the Omicron variant, descending from the recombinant XDV lineage. “Recombinant” is where a new variant arises from the genetic mixing of two or more existing variants.

    The image to the right shows more specifically how NB.1.8.1 came about.

    What does the research say?

    Like its predecessors, NB.1.8.1 carries a suite of mutations in the spike protein. This is the protein on the surface of the virus that allows it to infect us – specifically via the ACE2 receptors, a “doorway” to our cells.

    The mutations include T22N, F59S, G184S, A435S, V445H, and T478I. It’s early days for this variant, so we don’t have much data on what these changes mean yet. But a recent preprint (a study that has not yet been peer reviewed) offers some clues about why NB.1.8.1 may be gathering traction.

    Using lab-based models, researchers found NB.1.8.1 had the strongest binding affinity to the human ACE2 receptor of several variants tested – suggesting it may infect cells more efficiently than earlier strains.

    The study also looked at how well antibodies from vaccinated or previously infected people could neutralise or “block” the variant. Results showed the neutralising response of antibodies was around 1.5 times lower to NB.1.8.1 compared to another recent variant, LP.8.1.1.

    This means it’s possible a person infected with NB.1.8.1 may be more likely to pass the virus on to someone else, compared to earlier variants.

    What are the symptoms?

    The evidence so far suggests NB.1.8.1 may spread more easily and may partially sidestep immunity from prior infections or vaccination. These factors could explain its rise in sequencing data.

    But importantly, the WHO has not yet observed any evidence it causes more severe disease compared to other variants.

    Reports suggest symptoms of NB.1.8.1 should align closely with other Omicron subvariants.

    Common symptoms include sore throat, fatigue, fever, mild cough, muscle aches and nasal congestion. Gastrointestinal symptoms may also occur in some cases.

    COVID is continuing to evolve.
    Joannii/Shutterstock

    How about the vaccine?

    There’s potential for this variant to play a significant role in Australia’s winter respiratory season. Public health responses remain focused on close monitoring, continued genomic sequencing, and promoting the uptake of updated COVID boosters.

    Even if neutralising antibody levels are modestly reduced against NB.1.8.1, the WHO has noted current COVID vaccines should still protect against severe disease with this variant.

    The most recent booster available in Australia and many other countries targets JN.1, from which NB.1.8.1 is descended. So it makes sense it should still offer good protection.

    Ahead of winter and with a new variant on the scene, now may be a good time to consider another COVID booster if you’re eligible. For some people, particularly those who are medically vulnerable, COVID can still be a serious disease.

    Lara Herrero receives funding from the National Health and Medical Research Council.

    ref. There’s a new COVID variant driving up infections. A virologist explains what to know about NB.1.8.1 – https://theconversation.com/theres-a-new-covid-variant-driving-up-infections-a-virologist-explains-what-to-know-about-nb-1-8-1-257552

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: MEDIA RELEASE: North West Shelf approval in the national interest

    Source:

    Statement by AREEA Chief Executive Officer Steve Knott AM 

    Commonwealth approval of Woodside Energy’s North West Shelf Extension is a decision clearly made in the national interest.

    This follows more than six years of rigorous reviews and approval processes.

    Industry will view the green light for the North West Shelf Extension as a welcome and long overdue step towards sensibly dealing with red and green tape regulation and appropriate community consultations.

    Such processes are critical in the face of environmental lawfare that is stalling and frustrating other significant oil and gas and mining projects.

    Certainty and stability must be returned to the sector after a discernible decline in investor conditions and confidence.

    Today’s decision sends a positive signal for global investment and national prosperity – ensuring thousands of direct and indirect jobs, billions of dollars in taxes and royalties and cheaper and more secure gas for Australians on the path to a balanced energy transition.

    MIL OSI News

  • PM Modi to visit four states on May 29–30, launch projects worth ₹69,000 crore

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi is scheduled to visit four states — Sikkim, West Bengal, Bihar, and Uttar Pradesh — on the 29 and 30 of May, where he will inaugurate and lay foundation stones for multiple infrastructure and development projects worth over ₹69,000 crore.

    Sikkim: marking 50 years of statehood
    On May 29, the Prime Minister will reach Sikkim and take part in the Sikkim@50 celebrations at around 11 AM. The programme, themed “Where Progress Meets Purpose and Nature Nurtures Growth”, marks 50 years since Sikkim attained statehood.

    As part of the celebrations, the Prime Minister will lay the foundation stone and inaugurate several key development projects. These include a 500-bedded District Hospital in Namchi worth over ₹750 crore, a passenger ropeway at Sangachoeling in Gyalshing District, and a statue of Bharat Ratna Atal Bihari Vajpayee at Atal Amrit Udyan in Gangtok District.

    He will also release a commemorative coin, souvenir coin, and stamp to mark the occasion.

    West Bengal: boost to gas infrastructure
    Later the same day, at around 2:15 PM, PM Modi will visit Alipurduar in West Bengal to lay the foundation stone of a City Gas Distribution (CGD) project for Alipurduar and Cooch Behar districts. The ₹1,010 crore project will provide Piped Natural Gas (PNG) to over 2.5 lakh households and set up 19 CNG stations, contributing to a cleaner and cost-effective energy ecosystem in the region.

    Bihar: major development initiatives
    In the evening, the Prime Minister will inaugurate the newly constructed passenger terminal at Patna Airport, built at a cost of ₹1,200 crore. He will also lay the foundation stone for a new civil enclave at Bihta Airport, worth ₹1,410 crore, aimed at supporting the growing educational hub near Patna.

    On May 30, PM Modi will be in Karakat, Bihar, where he will inaugurate and lay foundation stones for projects worth over ₹48,520 crore. Among them is the Nabinagar Super Thermal Power Project, Stage-II, in Aurangabad district. The ₹29,930 crore project will generate 2,400 MW of power, strengthening energy security and boosting industrial development.

    Road infrastructure will also receive a major push, with the launch of four-laning and six-laning projects on NH-119A, NH-319B, NH-119D, and a new Ganga bridge between Buxar and Bharauli. Other key projects include the inauguration of NH-22 (Patna–Gaya–Dobhi section) and improvements in Gopalganj on NH-27.

    In the rail sector, the Prime Minister will dedicate the third rail line between Son Nagar and Mohammad Ganj, developed at a cost of ₹1,330 crore.

    Uttar Pradesh: strengthening infrastructure and power supply
    Later on May 30, PM Modi will visit Kanpur Nagar in Uttar Pradesh. At around 2:45 PM, he will inaugurate and lay the foundation stone for development works worth approximately ₹20,900 crore.

    He will inaugurate the Chunniganj to Kanpur Central Metro stretch under the Kanpur Metro Rail Project, which includes five new underground stations and improves urban connectivity.

    In the power sector, he will inaugurate the 660 MW Panki Thermal Power Extension Project (₹8,300 crore) and three 660 MW units of the Ghatampur Thermal Power Project (₹9,330 crore). Substations at YEIDA and Greater Noida worth ₹320 crore will also be inaugurated.

    Key road projects include the widening of Gauria Pali Marg and improved connectivity to the Kanpur Defence Corridor, supporting regional growth and industrial logistics.

    The Prime Minister will also inaugurate two rail overbridges in Panki and a 40 MLD Tertiary Treatment Plant at Bingawan, promoting sustainable water reuse.

    Further, he will distribute certificates and cheques to beneficiaries of central schemes such as PM Ayushman Vay Vandana Yojana, National Livelihood Mission, and PM Surya Ghar Muft Bijli Yojana.

  • MIL-OSI: April Monthly Net Asset Value Estimate

    Source: GlobeNewswire (MIL-OSI)

    NBPE Announces April Monthly NAV Estimate

    St Peter Port, Guernsey 28 May 2025

    NB Private Equity Partners (NBPE), the $1.2bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 30 April 2025 monthly NAV estimate.

    NAV Highlights (30 April 2025)

    • NAV per share was $27.29 (£20.43), a total return of 0.4% in the month
    • Approximately 62% of fair value based on private company valuation information as of Q1 2025 or based on 30 April 2025 quoted prices
    • Based on information received so far, private company valuations increased fair value by 0.4% during Q1 2025 on a constant currency basis
    • NBPE expects to receive additional updated Q1 2025 financial information which will be incorporated in future monthly NAV updates
    • $307 million of available liquidity at 30 April 2025
    • ~151k shares repurchased during April 2025 at a weighted average discount of 33% which were accretive to NAV by ~$0.02 per share. Year to date, NBPE has repurchased ~680k shares at a weighted average discount of 29% which were accretive to NAV by ~$0.10 per share
    As of 30 April 2025 Year to Date One Year 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised
    0.8% 3.4% 4.1%
    1.4%
    87.7%
    13.4%
    160.7%
    10.1%
    MSCI World TR (USD)*
    Annualised
    (0.8%) 12.6% 39.0%
    11.6%
    96.6%
    14.5%
    157.2%
    9.9%
               
    Share price TR (GBP)*
    Annualised
    (8.0%) (8.9%) 3.6%
    1.2%
    99.0%
    14.7%
    189.5%
    11.2%
    FTSE All-Share TR (GBP)*
    Annualised
    4.3% 7.5% 22.6%
    7.0%
    67.9%
    10.9%
    75.9%
    5.8%

    * All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

    Portfolio Update to 30 April 2025

    NAV performance during the month driven by:

    • 1.1% NAV increase ($13 million) attributable to changes in foreign exchange
    • 0.9% NAV decrease ($10 million) attributable to changes in prices of quoted holdings (which now constitute 5% of portfolio fair value)
    • 0.3% NAV increase ($4 million) from the value of private holdings
    • 0.2% NAV decrease ($3 million) attributable to expense accruals

    $53 million of realisations in 2025 year to date

    • $6 million of proceeds received during the month of April, consisting primarily of full and partial realisations of GFL, Corona Industrials and Inflection Energy

    $307 million of total liquidity at 30 April 2025

    • $97 million of cash and liquid investments with $210 million of undrawn credit line available

    2025 Share Buybacks

    • ~151k shares repurchased in April 2025 at a weighted average discount of 33%; buybacks were accretive to NAV by ~$0.02 per share
    • Year to date, NBPE has repurchased ~680k shares at a weighted average discount of 29% which were accretive to NAV by ~$0.10 per share

    Portfolio Valuation

    The fair value of NBPE’s portfolio as of 30 April 2025 was based on the following information:

    • 5% of the portfolio was valued as of 30 April 2025
      • 5% in public securities
    • 57% of the portfolio was valued as of 31 March 2025
      • 57% in private direct investments
    • 38% of the portfolio was valued as of 31 December 2024
      • 38% in private direct investments

    For further information, please contact:

    NBPE Investor Relations        +44 (0) 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 30 April 2025)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 83.9 6.6%
    Osaic 2019 Reverence Capital Financial Services 66.9 5.3%
    Solenis 2021 Platinum Equity Industrials 59.8 4.7%
    BeyondTrust 2018 Francisco Partners Technology / IT 47.7 3.8%
    Monroe Engineering 2021 AEA Investors Industrials 44.7 3.5%
    Business Services Company* 2017 Not Disclosed Business Services 40.1 3.2%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 38.9 3.1%
    True Potential 2022 Cinven Financial Services 35.2 2.8%
    Mariner 2024 Leonard Green & Partners Financial Services 33.7 2.7%
    FDH Aero 2024 Audax Group Industrials 32.9 2.6%
    Marquee Brands 2014 Neuberger Berman Consumer 31.4 2.5%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 30.6 2.4%
    Staples 2017 Sycamore Partners Business Services 29.6 2.3%
    Auctane 2021 Thoma Bravo Technology / IT 29.1 2.3%
    Fortna 2017 THL Industrials 28.7 2.3%
    Viant 2018 JLL Partners Healthcare 27.3 2.2%
    Stubhub 2020 Neuberger Berman Consumer 26.4 2.1%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 26.3 2.1%
    Benecon 2024 TA Associates Healthcare 25.5 2.0%
    Agiliti 2019 THL Healthcare 25.3 2.0%
    Kroll 2020 Further Global / Stone Point Financial Services 25.0 2.0%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.6 1.9%
    Excelitas 2022 AEA Investors Industrials 24.1 1.9%
    Addison Group 2021 Trilantic Capital Partners Business Services 23.8 1.9%
    Exact 2019 KKR Technology / IT 23.3 1.8%
    CH Guenther 2021 Pritzker Private Capital Consumer 21.2 1.7%
    Bylight 2017 Sagewind Partners Technology / IT 19.9 1.6%
    Constellation Automotive 2019 TDR Capital Business Services 19.0 1.5%
    Real Page 2021 Thoma Bravo Technology / IT 18.8 1.5%
    Tendam 2017 PAI Consumer 18.3 1.4%
    Total Top 30 Investments                             $982.1 77.6%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 77%
    Europe 22%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 23%
    Consumer / E-commerce 22%
    Industrials / Industrial Technology 17%
    Financial Services 14%
    Business Services 12%
    Healthcare 9%
    Other 4%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 9%
    2017 16%
    2018 15%
    2019 13%
    2020 13%
    2021 18%
    2022 6%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $515 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2025.


    1Based on net asset value.

    Attachment

    The MIL Network

  • MIL-OSI: Brooge Energy Limited Announces Proposed Sale of BPGIC FZE and BPGIC Phase III FZE

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, May 27, 2025 (GLOBE NEWSWIRE) — Brooge Energy Limited, (“BEL“) (NASDAQ: BROG), a Cayman Islands-based infrastructure provider, which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services, today announced entering into a conditional sale and purchase agreement (the “Acquisition Agreement“) for the proposed sale of 100% of the total issued share capital of each of Brooge Petroleum and Gas Investments Company FZE (“BPGIC FZE“) and Brooge Petroleum and Gas Investment Company Phase III FZE (“BPGIC Phase III FZE“, collectively with their subsidiaries referred to as the “BPGIC Group“), to Gulf Navigation Holding PJSC (“GulfNav“) (the “Transaction“).

    Key highlights:  This acquisition is part of GulfNav’s long-term vision to become a key player in the energy sector by expanding its storage and logistics capabilities with BPGIC Group’s state-of-the-art infrastructure, which includes advanced facilities for the storage of fuel oil, crude oil, and petroleum products. These assets will complement GulfNav’s existing operations and allow them to provide an integrated storage and transportation solution. The integration of the two businesses is expected to drive operational efficiencies, enhance service offerings, and create substantial value for stakeholders.

    BEL’s Board of Directors commented, “We are pleased to be nearing the closing of our strategic transaction with GulfNav. After careful diligence by both parties, we have outlined the proposed terms and conditions the Board believes is in the best interest of ensuring long-term value creation for our shareholders.”

    Principal Terms and Conditions of the Acquisition Agreement

    Consideration Structure  

    The total consideration (the “Consideration“) payable under the Transaction amounts to c. USD 884 million (AED 3,245,000,000). This Consideration will be satisfied through the following means:

    1. Cash Consideration: c. USD 125.3 million (AED 460,000,000) in cash, which will be paid as follows:
      1. c. USD 65 million (AED 239,650,000) will be paid into the Completion Escrow Account (subject to any deductions of transaction expenses and for known leakage (if any)); and
          1. c. USD 60 million (AED 220,350,000) will be paid into an escrow account for the benefit of ASMA Capital Partners B.S.C.(c) (“ASMA“) in connection with the settlement of certain outstanding liabilities of BPGIC Holdings Limited (under liquidation) to ASMA’s subsidiary, MENA Energy Services Holdings Limited, in order to facilitate the conclusion of the Transaction.
            1. Consideration Shares: The allotment and issue on completion of 358,841,476 ordinary shares in the share capital of GulfNav, credited as fully paid, at a price of USD 0.34 (AED 1.25) per share, with a total subscription price of c. USD 122 million (AED 449 million).    
            1. Mandatory Convertible Bonds: c. USD 636 million (AED 2,336 million) to be satisfied by the issue by GulfNav on completion of Mandatory Convertible Bonds, which will convert into ordinary shares in the share capital of GulfNav in accordance with the terms of such Mandatory Convertible Bonds. The Mandatory Convertible Bonds (upon their conversion into shares in GulfNav) will entitle the holder to the same economic benefits as the Consideration Shares.

            The Consideration Shares and any Mandatory Convertible Bonds which will convert into shares in the share capital of GulfNav will be subject to a 12-month lock-up period from their date of issuance or conversion, as the case may be.

            The Consideration is expected to be distributed by way of dividend at an appropriate time following completion.

            Conditions to completion of the Transaction

            Under the terms of the Acquisition Agreement, completion of the Transaction is conditional upon customary conditions, including:

            (a)                Shareholder Approval – GulfNav’s shareholders passing a special resolution to approve the amendment of its articles of association to remove any foreign ownership restrictions;

            (b)               Regulatory Approval – GulfNav obtaining all necessary regulatory approvals of the Transaction, including an mandatory tender offer waiver, issuance and transferability of the Mandatory Convertible Bonds and the admission of the Consideration Shares;

            (c)                GulfNav Consents – GulfNav obtaining written consent to the Transaction from certain third parties;

            (d)               First Mandatory Convertible Bond Offering – GulfNav successfully completing a capital raise (via the issuance of mandatory convertible bonds to existing shareholders) in order to fund the Cash Consideration element of the Consideration;

            (e)                BEL Consents – BEL obtaining written consent to the Transaction from certain third parties, including bondholders;

            (f)                Settlement of Claims – BEL entering into formal agreements for the full and final settlement of certain claims related to the BPGIC Group; and

            (g)               Commercial Registration – completion of the commercial registration process with the Fujairah Free Zone Authority to transfer the shares of the BPGIC Group by BEL to GulfNav.

            Other noteworthy terms

            BEL and GulfNav will each provide a customary set of warranties, as is typical in transactions of similar nature. 

            Completion is expected to occur within five Business Days after the satisfaction (or, if capable of waiver, waiver) of any applicable conditions in accordance with the terms of the Acquisition Agreement.

            BEL and GulfNav will endeavor to complete the Transaction as soon as practicable, and in any event prior to the Long Stop Date, being the date falling three months from the date of the Acquisition Agreement unless otherwise agreed by the parties.

            Following completion, each  party is expected to have pro-rata representation on the board of directors of GulfNav in accordance with applicable laws and regulations in the United Arab Emirates.

            BEL expects to provide further information regarding the distribution of the Consideration to BEL’s shareholders and other beneficiaries nearer the time of completion.  The Consideration Shares and Mandatory Convertible Bonds and other securities of GulfNav have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act“), and may not be offered or sold in the United States except pursuant to an applicable exemption from, or in a transaction not subject to the registration requirements of the Securities Act. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States.

            About Brooge Energy Limited

            BEL is a Cayman Islands-based infrastructure provider which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services. BEL conducts the business and operations through its subsidiary BPGIC FZE. BPGIC FZE is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE. Its business differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses.

            About Gulf Navigation Holding PJSC

            GulfNav is a prominent maritime and shipping company based in Dubai, UAE. With a diverse fleet and comprehensive services, GulfNav is committed to delivering excellence in the maritime industry.

            Forward-Looking Statements

            This press release contains statements that are not historical facts and constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including risks described in public reports filed by BEL with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEL does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

            Investor Contact
            KCSA Strategic Communications
            Valter Pinto, Managing Director
            +1 212-896-1254
            BROG@kcsa.com

        The MIL Network

  • MIL-OSI: Equinor ASA: Execution of debt capital market transactions

    Source: GlobeNewswire (MIL-OSI)

    On Tuesday May 27, 2025 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed the following debt capital market transactions:

    • Issue of USD 550 million 4.25% Notes due June 2, 2028
    • Issue of USD 400 million 4.50% Notes due September 3, 2030
    • Issue of USD 800 million 5.125% Notes due June 3, 2035

    The net proceeds from the issue of the Notes will be used for general corporate purposes, which may include the repayment or purchase of existing debt or other purposes described in the prospectus supplement for the issue of Notes. The transaction will increase the financial flexibility of the company.

    The offering is scheduled to close on June 3, 2025, subject to the satisfaction of customary conditions.

    Any public offering in the United States is being made solely by means of a prospectus supplement to the prospectus included in the Registration Statement filed by Equinor ASA and Equinor Energy AS, and previously declared effective.

    Further information from:

    Investor relations:
    Bård Glad Pedersen, Senior Vice President, Investor Relations,
    +47 918 01 791

    Press:
    Rikke Høistad Sjøberg, Media Relations,
    +47 901 01 451

    Finance:
    Sverre Serck-Hanssen, Vice President, Capital Markets,
    +47 951 68 342

    This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Equinor ASA nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus and related prospectus supplement. The prospectus and related preliminary prospectus supplement may be obtained by visiting the SEC’s website at www.sec.gov. Alternatively, you may request these documents by calling (1) Barclays Capital Inc. at 1-888-603-5847, (2) BofA Securities, Inc. at 1-800-294-1322, (3) Deutsche Bank Securities Inc. at 1-800-503-4611, (4) Goldman Sachs & Co. LLC at 1-866-471-2526, or (5) J.P. Morgan Securities LLC at 1-212-834-4533.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network

  • MIL-OSI: APA Corporation Announces Appointment of Aneil Kochar as Vice President and Treasurer

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 27, 2025 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq: APA) today announced that Aneil Kochar has been promoted to vice president and treasurer, effective May 22.

    Kochar will head APA’s Treasury department, providing global oversight for the company’s capital structure analysis, financing strategies, risk insurance, banking policies, and cash and liquidity management. The role of treasurer was previously held by Ben C. Rodgers who was recently promoted to chief financial officer.

    “I am pleased to welcome Aneil to APA’s leadership team. He has vast financial experience in the oil and gas industry and has played a crucial role in APA’s financial strategies over the past five years, driving value creation and improving cash management. Aneil will be a strong addition to our executive team,” said Ben C. Rodgers, APA’s Chief Financial Officer.

    Kochar has held the position of assistant treasurer for APA since 2022, having joined the company in 2020 as the director of Finance. Before joining APA, Kochar was vice president Finance and treasurer at Chisholm Oil and Gas, where he oversaw FP&A and treasury activities. Prior to that, he worked at EIG Global Energy Partners as an investment professional, focusing on origination and management of oil and gas debt and equity investments. Kochar began his career in energy investment banking at Morgan Stanley. He holds both bachelor’s and master’s degrees in Accounting from the University of Texas at Austin.

    About APA
    APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com.

    Contacts:

    Investor: (281) 302-2286
    Media: (713) 296-7276
    Website: www.apacorp.com

    APA-F

    The MIL Network

  • MIL-OSI USA: AFTER HOUSE GOP VOTED TO MAKE LARGEST CUT TO FOOD ASSISTANCE IN HISTORY – IMPACTING 150,000 IN ROCHESTER-FINGER LAKES – SCHUMER SAYS WE MUST UNITE TO SAVE SNAP; STANDING WITH ROCHESTER FAITH LEADERS,…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Schumer Says Trump’s ‘One Big Beautiful Bill’ Will Be Ugly For Hardworking NY Families, Decimating Healthcare & Funding For Local Hospitals, Raising Energy Costs By Slashing $$ For Clean Energy Projects Across NY & Raising Costs For Counties Across The Board By Shifting The Costs For Vital Programs Like SNAP & Medicaid
    Already 24 Truckloads Of Produce For Foodlink’s 350+ Rochester-Area Food Pantries Have Been Canceled Due To Trump’s Cruel USDA Cuts & Now With GOP Voting To Make Largest SNAP Cut In History; Senator, With Church Leaders & Advocates, Says Double Whammy Could Hurtle Rochester-Finger Lakes To A Hunger Crisis
    Schumer: No Child In Rochester Should Go To Bed Hungry
    After House Republicans just last week voted to pass the largest cut to the anti-hunger program SNAP in American history, U.S. Senator Chuck Schumer today stood with Rochester-Finger Lakes religious leaders, food banks, and farmers on the frontlines of the local fight against hunger to show the devastating local impacts the massive proposed $300 billion SNAP cut to fund Trump’s tax breaks for corporations & billionaires. Over 150,000 kids, seniors and families in the Rochester-Finger Lakes region rely on these anti-hunger programs for food, and Schumer joined with church leaders to detail exactly why these new cuts would be so harmful, and demand that the GOP stop this devastating assault that could hurtle Rochester and millions of others across America to a hunger crisis.
    “Last week, in the dark of night, House Republicans rushed to pass their so-called ‘Big Beautiful Bill’ in the hopes that their massive cuts to American families would go unnoticed. We are here to ensure that doesn’t happen, and shine a light on how the largest cut to food assistance in history could hurtle 150,000 kids, seniors, and families into a hunger crisis,” said Senator Schumer. “Trump already canceled 24 truckloads of U.S. farm-grown food headed to hungry families in Rochester, and these cuts would be a double whammy. This is not a partisan issue, it is a moral issue. I’m here with our food banks, faith leaders, and farmers on the frontlines to stand up to protect these programs and stop this cruel cut to SNAP. Stealing from anti-hunger programs that feed Rochester families to pay for Trump’s tax breaks for corporations & billionaires is as backwards as it gets. There is nothing beautiful about cutting SNAP so children go hungry and can’t learn or have productive lives. Senate Democrats are united in opposing this cruel bill, and we are united with the people to demand the GOP block these SNAP cuts. Otherwise, it will be families here in Rochester that go hungry.”
    “How we care for those on the margins speaks volumes about who we are as a people,” said Pastor Doug Stewart of The Lutheran Church of the Incarnate Word. “Many of our religious traditions have engrained in their DNA the call to care for the dignity and well-being of those on the margins – values that should compel us to stand against policies that sacrifice the poor on the altar of tax breaks and corporate privilege. In a nation with abundant resources, the persistence of hunger is a moral failing—a call to action for all who believe in equity and the common good.  When dinner and grocery programs like those at Incarnate Word are pushed to their limits, we see the sharp painful consequences of such policies. I am grateful for the work of Senator Schumer and other community leaders in their tireless efforts of drawing attention to how drastic cuts in anti-hunger programs could lead to a full-blown hunger crisis that harms the most vulnerable. I’m proud to stand beside Senator Schumer today.”
    Schumer explained how Trump’s USDA has already cruelly canceled $1 billion in food assistance including 24 truckloads of food locally, right as demand is surging. Schumer said if these SNAP cuts became law, it would be a double whammy. Rochester’s Foodlink and its network of 350+ Food Pantries across the 10-county Rochester Finger Lakes region last year alone recorded 1.8 million requests for food assistance (a 36% increase from the prior year), and if these SNAP cuts move forward they say it would be devastating.
    The Supplemental Nutrition Assistance Program (SNAP) is a lifeline for nearly 3 million NY seniors, veterans and families who rely on the critical funding to purchase groceries. Schumer said that we should be investing more not less in anti-hunger programs, but under the Republican proposal, the average family would be reduced to just $5.00 per day per person. A breakdown of SNAP recipients in the Rochester-Finger Lakes region from the Center for American Progress can be found below:

    County

    SNAP Recipients

    % of County on SNAP

    SNAP Retailers

    Genesee

    4,785

    8.3%

    52

    Livingston

    5,731

    9.3%

    45

    Monroe

    109,665

    14.6%

    611

    Ontario

    9,350

    8.3%

    82

    Orleans

    5,350

    13.6%

    32

    Seneca

    3,647

    11.2%

    36

    Wayne

    8,539

    9.4%

    79

    Wyoming

    2,513

    6.4%

    33

    Yates

    2,080

    8.5%

    23

    TOTAL

    151,660

     

    993

    Last week, House Republicans passed a bill that would rip $300 billion away from SNAP. This proposal would impact Rochester-Finger Lakes residents in many ways, including the addition of a work requirement which would raise the age to access SNAP benefits from age 55 to age 64 and only exempt SNAP recipients from work requirements if they have someone younger than 7 years old in their household, down from the current exemption for all families with children under 18 years old.
    Schumer said, “I’m all for reducing any waste or fraud to make the program more efficient, but rushing to pass these massive damaging cuts with no plan while they slash our food banks is a recipe for disaster. Republicans are tying themselves in knots trying to justify these massive cuts. I ask my Republican friends this: which category does a hungry 7 year old fall under: are they waste? Are they fraud? Or are they abuse?”
    Schumer explained the Republican proposal to cut $300 billion from SNAP would inevitably mean costs of feeding families shift to states, who simply do not have the capacity to absorb this massive increase in expenses, risking families going hungry. Under this Republican proposal, states would be required to pay 5 – 25% of their state’s SNAP benefits based on the state’s error rate. According to the Center on Budget and Policy Priorities (CBPP), mandating New York State to cover even a modest share of SNAP benefits would shift astronomical costs to the state, with even just 5% increasing New York State’s costs by nearly $3.5 billion from FY2026 to FY2034. The senator said it is impossible to cut this much from federal SNAP funding without ripping food away from hungry children, seniors, veterans, people with disabilities, and more. These figures represent just the costs from SNAP cuts and do not factor in additional costs states would have to bear if Republicans pass their proposed Medicaid cuts in this same bill.
    These agonizing decisions would be amplified even further at the local level, with non-profits, many of whom have already had their funding cut, unable to fill in the gap. Counties could even be forced to shoulder the burden of increased costs in SNAP, using more local dollars to provide coverage because less federal funding will be coming in. During recessions or economic downturns, these impacts will be even more acute, as more people apply for benefits and state revenue declines, more children, seniors, veterans, people with disabilities, and more will be turned away from this vital program due to insufficient federal funding.
    The proposed SNAP cuts would be a blow to Rochester-Finger Lakes food banks which have already been hit hard by Trump’s funding freezes and canceled payments. Earlier this year, the USDA canceled $1 billion in food assistance for organizations to purchase locally grown food. USDA programs provide food banks, schools, and other organizations with federal support to purchase local food products from NY farms.
    Trump’s USDA cuts have already hit the Rochester-Finger Lakes region hard. Rochester’s Foodlink has already been forced to cancel 24 truckloads of U.S. farm grown food worth approximately $1 million. Meanwhile, food insecurity is affecting more families across the region, with Foodlink seeing a 40% increase in visits to network food pantries and meal programs from 2023 to 2024.  
    Schumer said these proposed cuts will limit food banks’ ability to keep shelves stocked as more people have been forced to rely on food banks to feed their families. Food bank workers and religious leaders across Upstate New York are concerned about the impact of potential cuts to SNAP on the people they serve, and farmers are worried there will be nowhere to sell their food if SNAP funding levels drop.
    “The devasting SNAP cuts proposed in the House bill will take away billions of meals for some of our nation’s most vulnerable residents — and impact the health of our seniors, educational opportunities for our youth and the economic prosperity of our country,” said Julia Tedesco, president & CEO of Foodlink. “At a time when food-insecurity rates are high and visits to local food pantries spiked 40% last year, Foodlink and our partners simply cannot fill the gap with a SNAP reduction of this magnitude. We call on Congress to oppose these cuts to ensure the health and wellbeing of our neighbors during these challenging times.”
    Jay Formicola, Rochester resident who relies on SNAP said, “I receive SNAP benefits and they are a lifeline for me and thousands of people just like me across this region. We all know that prices in the grocery store are high. Inflation has made it harder and harder for me to makes ends meet. I work. I budget. I meal plan. And it’s still hard. Any plan that takes away food from working people like me, or families dealing with soaring cost of living, makes no sense. This will create worse and more costly problems.”
    “We serve 500 households every week and see firsthand how food insecurity impacts Rochester families – from a mom unsure she’ll have enough food for her children during weekends, to seniors and working parents lining up in the cold and snow hours before our pantry doors even open,” said Dawn Burdick, Executive Director of Rochester Hope North Clinton Food Pantry, based on the campus of St. Michael’s. “Our families rely on the nearly 20,000 pounds of food we receive through Foodlink’s network every week, and fresh, locally grown produce is always most in demand. The USDA funding freeze has already made it harder for us to keep our shelves stocked and supply healthy options for our neighbors. Any future cuts to SNAP will surely have an even more wide-ranging impact – not only making it tougher for families to put food on the table, but also straining our ability to keep up with the growing need. In a region as rich in resources as ours, it’s disheartening to see these threats to vital food programs increase the stress and insecurity faced by our community and the volunteers who work so tirelessly to help.”
    Reverend Tedd Pullano, Third Presbyterian Church Associate Pastor for Outreach said, “Third Presbyterian Church has chosen to be a “Matthew 25 congregation”, which means we follow Jesus’ call to care for all people, whoever they are. A big piece to following Jesus’ call is to “welcome and feed the hungry”. Every week, through our free Food Cupboard and our Saturday meal, we serve over 200 people (approximately 600 per month). Our Food Cupboard is in a “self-service shopping format” that allows people to choose items that best meet their needs family. A critically important and popular aspect of our ministry is providing fresh dairy and produce through Foodlink to these families, so their children can grow up healthy and strong, mentally and physically. The recent USDA funding elimination freeze is detrimental to that effort and dangerous to people; now the proposal to cut SNAP funding would further damage families and hamper these beautiful people’s ability to survive. SNAP is the backbone of food security for so many in our community. We’re grateful, and proud, to stand in our faith, alongside Senator Schumer and push to protect this important SNAP funding – and care for people who are working hard and trying to make ends meet.”
    Sister Beth LeValley with the Sisters of Saint Joseph of Rochester said, “Yesterday, on Memorial Day we remembered those who gave their lives so that America and its ideals would endure.  Just the loss of SNAP benefits alone would impact 11 million people including an estimated 4 million children.  We should be ashamed to support, much less pass, legislation that penalizes the vulnerable at the same time that it compensates the wealthy.  Penalizing the vulnerable and compensating the wealthy are not ideals held by people of faith; they are not ideals held by people of conscience; nor are they ideals embedded in our founding American documents.  We are grateful Senator Schumer is here today joining with us to change the course of an ill-devised exercise of power –an exercise of power that benefits only a segment of our society.   We welcome his support and urge more lawmakers to follow his lead.
    Proposed rollbacks to the country’s most widely utilized nutrition assistance program would strain budgets for Rochester-Finger Lakes families. Schumer said decimating funding for SNAP right as costs at grocery stores across the country are skyrocketing will hit the Rochester-Finger Lakes region hard. According to the New York State Community Action Association, more than 15% of people in Monroe County live in poverty, including nearly 24% of children. According to No Kid Hungry, over half of New Yorkers reported going into debt in the past year due to rising food costs, with over 60% of families with children. According to the latest “Map the Meal Gap” report from Feeding America, nearly 10,000 more people experienced food insecurity in 2023 compared to 2022 within Foodlink’s 10-county Rochester Finger Lakes region service area. Approximately 160,920 residents experienced food insecurity in 2023, compared to 151,820 the year prior. Between 2021 and 2023, the region’s food insecurity rate rose from 9.3% to 12% to 12.8% which is the highest rate since 2013, and child food insecurity averaged 17.6%.
    SNAP not only supplements families’ food budgets, it has also generated great economic benefits for New York State and NY-25 specifically. According to the National Grocers Association, grocery stores across New York State sold over $2.1 billion in groceries to people using SNAP benefits, including $149.8 million in NY-25. This created more than 18,500 New York jobs in the grocery industry, including 1,319 in NY-25, and generated more than $820.8 million in grocery industry wages, including $58.3 million in NY-25.

    MIL OSI USA News

  • MIL-OSI USA: AFTER HOUSE GOP VOTED TO MAKE LARGEST CUT TO FOOD ASSISTANCE IN HISTORY – IMPACTING 108,000 IN CENTRAL NY – SCHUMER WITH SYRACUSE-CNY FAITH LEADERS IN OSWEGO COUNTY WHICH HAS AMONG HIGHEST FOOD…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Schumer Says Trump’s ‘One Big Beautiful Bill’ Will Be Ugly For Hardworking NY Families, Decimating Healthcare & Funding For Local Hospitals, Raising Energy Costs By Slashing $$ For Clean Energy Projects Across NY & Raising Costs For Counties Across The Board By Shifting The Costs For Vital Programs Like SNAP & Medicaid
    Already The Foodbank of CNY Is Preparing To Lose ~2 Million Pounds Of Food Due To Trump’s Cruel USDA Cuts & Now With GOP Voting To Make Largest SNAP Cut In History; Senator, With Syracuse Church Leaders & Advocates, Says Double Whammy Could Hurtle Central NY & Oswego County Which Has Highest Food Insecurity In All NYS Into To A Hunger Crisis
    Schumer: No Child In Central NY Deserves To Go To Bed Hungry
    After House Republicans just last week voted to pass the largest cut to the anti-hunger program SNAP in American history, U.S. Senator Chuck Schumer stood in Central New York’s hunger hotspot, Oswego County, which has one of the top 5 highest rates of food insecurity in all of NY, with religious leaders, food banks, and farmers on the frontlines of the local fight against hunger to show the devastating local impacts the massive proposed $300 billion SNAP cut to fund Trump’s tax breaks for corporations & billionaires. Over 108,000 in Central NY rely on these anti-hunger programs for food, and Schumer joined with church leaders to detail exactly why these new cuts would be so harmful, and demand that the GOP stop this devastating assault that could hurtle Rochester and millions of others across America to a hunger crisis.
    “Last week, in the dark of night, House Republicans rushed to pass their so-called ‘Big Beautiful Bill’ in the hopes that their massive cuts to American families would go unnoticed. We are here in Oswego County which has some of the highest rates of food insecurity in New York to ensure that doesn’t happen. We are here to shine a light on how the largest cut to food assistance in history could hurtle 108,000 Central New York kids, seniors, and families into a hunger crisis,” said Senator Schumer. “Trump already canceled more than a million pounds of U.S. farm-grown food headed to hungry families in Central New York, and these cuts would be a double whammy. This is not a partisan issue, it is a moral issue. I’m here with our food banks, faith leaders, and farmers on the frontlines to stand up to protect these programs and stop this cruel cut to SNAP. Stealing from anti-hunger programs that feed Central New York families to pay for Trump’s tax breaks for corporations & billionaires is as backwards as it gets. There is nothing beautiful about cutting SNAP so children go hungry and can’t learn or have productive lives. Senate Democrats are united in opposing this cruel bill, and we are united with the people to demand the GOP block these SNAP cuts. Otherwise, it will be families here in Central New York that go hungry.”
    Schumer explained how Trump’s USDA has already cruelly canceled $1 billion in food assistance, and his FEMA has indefinitely frozen over $130 million in previously allocated funds, hurting every level of food distribution from regional food banks like the Food Bank of CNY to local food pantries like Catholic Charities Oswego Food Pantry. If these SNAP cuts move forward it would be a triple whammy for Central NY, hurtling the region’s ongoing hunger crisis to unforeseen levels. The Supplemental Nutrition Assistance Program (SNAP) is a lifeline for nearly 3 million NY seniors, veterans and families who rely on the critical funding to purchase groceries. Schumer said that we should be investing more not less in anti-hunger programs, but under the Republican proposal, the average family would be reduced to just $5.00 per day per person. A breakdown of SNAP recipients in Central New York from the Center for American Progress can be found below:

    County

    SNAP Recipients

    % of County on SNAP

    SNAP Retailers

    Cayuga

    9,215

    12.3%

    57

    Cortland

    5,933

    12.9%

    52

    Madison

    6,585

    9.8%

    68

    Onondaga

    68,796

    14.6%

    455

    Oswego

    18,184

    15.4%

    109

    TOTAL

    108,713

     

    741

    Last week, House Republicans passed a bill that would rip $300 billion away from SNAP. This proposal would impact Central New York residents in many ways, including the addition of a work requirement which would raise the age to access SNAP benefits from age 55 to age 64 and only exempt SNAP recipients from work requirements if they have someone younger than 7 years old in their household, down from the current exemption for all families with children under 18 years old.
    Schumer said, “I’m all for reducing any waste or fraud to make the program more efficient, but rushing to pass these massive damaging cuts with no plan while they slash our food banks is a recipe for disaster. Republicans are tying themselves in knots trying to justify these massive cuts. I ask my Republican friends this: which category does a hungry 7 year old fall under: are they waste? Are they fraud? Or are they abuse?”
    Schumer explained the Republican proposal to cut $300 billion from SNAP would inevitably mean costs of feeding families shift to states, who simply do not have the capacity to absorb this massive increase in expenses, risking families going hungry. Under this Republican proposal, states would be required to pay 5 – 25% of their state’s SNAP benefits based on the state’s error rate. According to the Center on Budget and Policy Priorities (CBPP), mandating New York State to cover even a modest share of SNAP benefits would shift astronomical costs to the state, with even just 5% increasing New York State’s costs by nearly $3.5 billion from FY2026 to FY2034. The senator said it is impossible to cut this much from federal SNAP funding without ripping food away from hungry children, seniors, veterans, people with disabilities, and more.
    These agonizing decisions would be amplified even further at the local level, with non-profits, many of whom have already had their funding cut, unable to fill in the gap. Counties could even be forced to shoulder the burden of increased costs in SNAP, using more local dollars to provide coverage because less federal funding will be coming in. During recessions or economic downturns, these impacts will be even more acute, as more people apply for benefits and state revenue declines, more children, seniors, veterans, people with disabilities, and more will be turned away from this vital program due to insufficient federal funding.
    According to CBPP, 20,000 people in NY-22 and 14,000 people in NY-24 reside in households with adults ages 18-64 with school-age children and would likely lose SNAP benefits under this Republican proposal, and Schumer said that is only the tip of the iceberg.
    The proposed SNAP cuts would be a blow to Central New York food banks which have already been hit hard by Trump’s funding freezes and canceled payments. Earlier this year, the USDA canceled $1 billion in food assistance for organizations to purchase locally grown food. USDA programs provide food banks, schools, and other organizations with federal support to purchase local food products from NY farms. At FEMA, $130 million in previously allocated funding for the Emergency and Food and Shelter Program has been indefinitely frozen since January. The program helps local nonprofit organizations provide food and shelter individuals and families who are experiencing, or at risk of experiencing, hunger or homelessness.
    Trump’s USDA and FEMA cuts have already hit Central New York hard. At the Food Bank of CNY, which delivered over 22.9 million pounds of food and over 19 million meals to families across 11 Upstate NY counties in 2024, USDA cuts have already caused a loss of over $450,000 and may cause additional losses of up to $1 million per year, translating to an estimated 500,000 pounds of food and 100,000 meals annually. At Catholic Charities of Oswego County, which served 2,213 adults, 1,368 children, and 360 seniors in 2024, FEMA cuts will slash as much as $14,000 from their food pantry in Fulton, forcing them to cut back on hundreds if not thousands of meals each year. Elsewhere in Oswego County, USDA cuts jeopardize food security for the 10,000 people served by Oswego County Opportunities last year, including 150 people suffering from intellectual or developmental disabilities, mental illnesses, chemical addiction, or homelessness, and more than 50 families with pre- / post-partem women and infant children. In Onondaga County, USDA cuts have meant less food available, unhealthier options, and increased competition. At the Interfaith Community Collective food pantry in Syracuse, USDA cuts have already forced pantry staff to reduce the amount of meals served, shorten meal service time, and even turn people away hungry. At New Americans Blessing Box, USDA cuts have made it more difficult to find fresh foods like vegetables, fruits, and meats, as well as culturally targeted foods like Halal chicken, jasmine rice, and spices.
    Schumer said these proposed cuts will limit food banks’ ability to keep shelves stocked as more people have been forced to rely on food banks to feed their families. Food bank workers and religious leaders across Upstate New York are concerned about the impact of potential cuts to SNAP on the people they serve, and farmers are worried there will be nowhere to sell their food if SNAP funding levels drop.
    “No matter which way you slice it, this Congressional Republican plan will screw Central New York families, food banks and farmers from farm to table. We need everyone to stand up to these cuts that would take away food from our neighbors in need,” added Schumer.
    Murray Gould, Food Pantry Director, St. Lucy’s Church of Syracuse, “We at St. Lucy’s Church are grateful for the efforts of Senator Schumer for highlighting this critical issue. We have seen a 40% increase in people seeking our assistance at our pantry in the last nine months. We do know that approximately 75% of our clients receive snap benefits. The proposed reduction in snap as well as the devastating decrease in funding to the food. SNAP cuts will be creating more hunger in our communities. As a faith based community in our neighborhood, these proposed changes can only be described as cruel.”
    Maura Ackerman, Executive Director of the Syracuse-Onondaga Food Systems Alliance, said, “SNAP is one of the most powerful tools we have to fight hunger and poverty, especially for families with children. In a city like Syracuse – with the highest child poverty rate among U.S. cities with populations over 100,000 – that support is not just meaningful, it’s essential. Every SNAP dollar feeds a neighbor and strengthens our local economy, generating nearly twice its value in economic activity. This is about investing in our kids, our communities, and our collective future. We can’t let politics stand in the way of basic human needs. We’re grateful to Senator Schumer for championing this commonsense, bipartisan priority. Making sure children have enough to eat should never be up for debate.”
    Brian Reeves, Owner, Reeves Farm said, “Cuts to food assistance programs have several negative impacts to our communities; fewer people receive adequate nutrition, farmers sell less of their production, and any excess unsold production can over supply the marketplace and drive down the price the farmer receives for the food which does get sold. On behalf of farmers across New York, I would like to thank Senator Schumer for fighting to ensure that critical SNAP dollars keep flowing to help farms like mine continue providing fresh, nutritious, locally grown food to the members of our community who need it the most.”
    Sheila Dion, Founder & Director, Erin’s Angels of CNY said, “Hunger is not a political issue, it is a human issue. Cutting SNAP benefits is not just a budget decision—it’s a moral decision. Oswego County is often cited among the New York Counties with the highest rates of child food insecurity. According to Feeding America, seventy six percent of the families in Oswego County are income eligible for federal nutrition programs. Every day, we see firsthand the impact hunger has on children in our community. These proposed cuts would leave thousands of kids without the nutrition they need to grow, learn, and thrive. At Erin’s Angels, we fill the weekend gap, but SNAP is the lifeline that helps families feed their children the rest of the week. Undermining this program would deepen food insecurity across the country—and hurt the most vulnerable among us. We would like to thank Senator Chuck Schumer for helping to raise awareness of this very important issue and for advocating for the hungry in New York State and in Oswego County. By denouncing SNAP cuts, highlighting the negative effects these cuts will have on millions of New York residents, calling for a coalition to oppose these devastating cuts, demanding action from New York state republicans to oppose these cuts and protect SNAP, securing funding for food banks, advocating for farmers and visiting food banks across the state he has consistently demonstrated his commitment to addressing hunger and supporting those facing food insecurity in New York State.”
    Roseann Bayne, Assistant Superintendent for Instruction, CiTi BOCES said, “Cuts to SNAP will deepen the crisis of food insecurity in Oswego County—already among the highest in New York State. Over 26% of adults here are food insecure, and nearly one in four school-age children live in poverty—well above state and national averages. Even small cuts in benefits could push many from low food security into true hunger, especially seniors surviving on below-average Social Security and limited retirement income. And our students? Many arrive at school undernourished, disadvantaged before the day even begins—struggling at times to focus, learn, or thrive. SNAP isn’t about handouts; it’s a lifeline for families, seniors, and individuals doing their best to get by. Many folks here work full-time and still earn far less than the ALICE survival budget. Opinions and misinformed judgment don’t feed people. Policy rooted in compassion and facts does. On behalf of CiTi BOCES, I thank Senator Schumer for coming to Oswego County to advocate for the critical SNAP funds that our community depends on.”
    Peter O. Nwosu, President, SUNY Oswego said, “At SUNY Oswego, we recognize that students cannot achieve academic success while facing food insecurity. That’s why, through our Empire State Service Corps, we’ve established a dedicated team of students who provide peer-to-peer support to help their classmates apply for SNAP benefits. This work reduces barriers and empowers students to focus on their education without the burden of basic needs insecurity. We are committed to sustaining this and other vital services to help our students succeed. We are grateful to Senator Schumer for his ongoing advocacy to expand and protect SNAP access for college students. His continued leadership is instrumental in ensuring that higher education remains accessible and equitable for all.”
    Josh Stephani, Director, Adirondack Food System Network said, “Federal cuts to SNAP have disastrous implications the communities across the Adirondacks, our most vulnerable individuals, and further threaten our food system. Nearly one third of our population is supported by SNAP – children, seniors, and many families are supported through this important program. Alongside rising costs for transportation, housing, and living in the region, many families are already struggling to provide for their families without enough resources. These vital programs work to support our economy and provide for our families in need. Specifically, by cutting SNAP, we are placing further economic hardships on our North Country communities, reducing the $300 million economic benefit of this program into our Adirondack region and putting the health of our neighbors at risk. For the communities who call this place home, these programs are a vital lifeline for their moments of need. On behalf of the Adirondack Food System Network, we thank Senator Schumer for his continued advocacy for these critical and lifesaving programs for our communities, New Yorkers, and the entire country. The Adirondacks are often seen as the last mile for essential services, and we are proud to have the Senator as an advocate for the North Country advocating on our behalf.”
    Proposed rollbacks to the country’s most widely utilized nutrition assistance program would strain budgets for Central New York families. Schumer said decimating funding for SNAP right as costs at grocery stores across the country are skyrocketing will hit Central New York hard. According to the New York State Community Action Association, more than 17% of people in Oswego County live in poverty, including nearly 25% of children. According to No Kid Hungry, over half of New Yorkers reported going into debt in the past year due to rising food costs, with over 60% of families with children. In Oswego County, more than 26% of adults self-report as food insecure per the NYS Department of Health, and over 20% of children are food insecure according to Feeding America. With 1 in 4 adults and 1 in 5 children suffering from food insecurity, Oswego County food insecurity is the highest of any county in Central New York.
    SNAP not only supplements families’ food budgets, it has also generated great economic benefits for New York State and NY-24 specifically. According to the National Grocers Association, grocery stores across New York State sold over $2.1 billion in groceries to people using SNAP benefits, including $103.3 million in NY-24. This created more than 18,500 New York jobs in the grocery industry, including 910 in NY-24, and generated more than $820.8 million in grocery industry wages, including $40.2 million in NY-24.

    MIL OSI USA News

  • MIL-OSI: Gevo Promotes Leke Agiri to Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD, Colo., May 27, 2025 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), is pleased to announce the appointment of Oluwagbemileke (Leke) Agiri as Chief Financial Officer, effective as of May 21, 2025. Mr. Agiri succeeds L. Lynn Smull, who will continue with the Company in a new role as Executive Vice President and Senior Advisor to the Chief Executive Officer, focusing on strategic initiatives and to aide and support a seamless transition.

    Mr. Agiri brings extensive experience and leadership in corporate finance, capital markets, and strategic growth, both organic and inorganic. Since joining Gevo in August 2022, he has served in key leadership roles, most recently as Executive Vice President, Finance, where he has been instrumental in driving financial strategy and planning. His prior experience includes finance positions in the renewable energy and energy sectors at organizations including Bank of America (BAC), Occidental Petroleum Corporation (OXY) and Anadarko Petroleum Corporation (APC). Mr. Agiri earned a Masters in Business Administration in Finance and Energy from Jones Graduate School of Business at Rice University and a Bachelor of Science in Chemical Engineering from the University of Virginia.

    “We’ve been developing Leke to replace me as the CFO as I approach retirement in my future. Leke has stepped up to every challenge that we have thrown at him. I look forward to a smooth transition with him. It’s my duty to make sure I can help Gevo in any way possible. I also look forward to bringing my skills to bear on some of the exciting projects that Gevo is developing,” said Lynn Smull, Executive Vice President and former CFO of Gevo.

    “Leke has been an integral part of our finance team and has demonstrated outstanding leadership and expertise in advancing Gevo’s mission,” said Patrick Gruber, CEO of Gevo. “His appointment reflects our long–term succession planning and confidence in his ability to help lead Gevo through its next phase of growth.

    This leadership evolution reflects Gevo’s commitment to building a strong, future-ready team capable of executing on its ambitious goals for innovation and value creation.”

    About Gevo
    Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including synthetic aviation fuel (“SAF”), motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States, turning by-products into clean, reliable energy. We also operate an ethanol plant with an adjacent carbon capture and sequestration (“CCS”) facility, further solidifying America’s leadership in energy innovation. Additionally, Gevo owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring, and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

    For more information, see www.gevo.com.

    Forward-Looking Statements
    Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the promotion of Leke Agiri, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2024, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

    Media Contact
    Heather L. Manuel
    VP, Stakeholder Engagement & Partnerships
    PR@gevo.com

    Investor Contact
    Eric Frey, PhD
    Vice President of Finance & Strategy
    IR@gevo.com

    The MIL Network

  • MIL-OSI: TeraWulf Acquires Beowulf Electricity & Data, Streamlining Corporate Structure

    Source: GlobeNewswire (MIL-OSI)

    EASTON, Md., May 27, 2025 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, next-generation digital infrastructure primarily powered by zero-carbon energy, announced today the acquisition of 100% of the membership interests of Beowulf Electricity & Data LLC and its affiliates (collectively, “Beowulf E&D”). The strategic transaction simplifies TeraWulf’s corporate structure and eliminates a related-party relationship consolidating resources under a unified operating framework.

    Transaction Overview

    The total consideration for the transaction is approximately $52.4 million, consisting of $3 million in cash and 5 million shares of TeraWulf common stock issued at closing. The agreement also includes up to $19 million in contingent cash payments and up to $13 million in additional common stock, subject to the achievement of key milestones related to the expansion of TeraWulf’s data center business and project financing initiative. As part of the acquisition, 94 employees from Beowulf E&D – including Lake Mariner site staff and corporate support personnel – have transitioned to TeraWulf employment. In addition, the existing services agreement with Beowulf E&D, which had included substantial ongoing payments, has been terminated in conjunction with the closing. The Company’s previously announced 2025 cost guidance, including SG&A expenses of $40-$45 million and operating expenses of $20-$25 million, remains unchanged following the acquisition.

    Strategic Rationale        

    The acquisition provides several key strategic benefits:

    • Strengthened Vertical Integration and Energy Expertise. Beowulf E&D brings deep experience in the development and operation of power generation assets and related electrical infrastructure. Integrating this capability directly into TeraWulf supports the Company’s long-term growth strategy, especially as power generation becomes increasingly integral to high-power compute operations.
    • Enhanced Access to Capital Markets. A simplified corporate structure improves transparency for debt investors and facilitates the creation of a repeatable, efficient process for accessing project financing in support of upcoming HPC infrastructure initiatives.
    • Expanded Investor Appeal. The elimination of a related-party structure enables broader engagement with institutional and long-only investors who may have been constrained by related-party disclosures in prior filings.

    “This acquisition consolidates our operations under a single, unified structure,” said Kerri Langlais, Chief Strategy Officer of TeraWulf. “It enhances transparency, strengthens governance, and provides greater strategic flexibility as we pursue long-term growth and value creation. With all employees operating under one roof, we are well-positioned to scale our next-generation infrastructure and support the evolving demands of AI and high-power compute workloads.”

    The transaction was negotiated and approved by a special independent committee of the Company’s Board of Directors comprised entirely of independent directors (the “Independent Committee”). The Independent Committee consulted independent legal counsel Reed Smith LLP and received a fairness opinion from Piper Sandler & Co. in connection with the transaction.

    About TeraWulf

    TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for bitcoin mining and hosting HPC workloads. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through bitcoin mining, leveraging predominantly zero-carbon energy sources, including hydroelectric and nuclear power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “seek,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “strategy,” “opportunity,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) the ability to mine bitcoin profitably; (2) our ability to attract additional customers to lease our HPC data centers; (3) our ability to perform under our existing data center lease agreements (4) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates; (5) the ability to implement certain business objectives, including its bitcoin mining and HPC data center development, and to timely and cost-effectively execute related projects; (6) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to expansion or existing operations; (7) adverse geopolitical or economic conditions, including a high inflationary environment, the implementation of new tariffs and more restrictive trade regulations; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability and cost of power as well as electrical infrastructure equipment necessary to maintain and grow the business and operations of TeraWulf; and (10) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

    Investors:
    Investors@terawulf.com 

    Media:
    media@terawulf.com 

    The MIL Network

  • MIL-OSI: Kayne Anderson Energy Infrastructure Fund Announces Appointment of New Independent Directors

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 27, 2025 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company” or “KYN”) announced today the appointments of Holli C. Ladhani and Michael N. Mears as independent directors of the Company, effective immediately. Following the retirements of Anne K. Costin and Albert L. Richey earlier this year, the appointments of Ms. Ladhani and Mr. Mears return the Company’s Board to eight members, seven of whom are independent.

    Holli C. Ladhani is an experienced executive and board director in the energy, chemicals, power, and infrastructure sectors. Ms. Ladhani most recently served as President, Chief Executive Officer, and a member of the board of directors of Select Energy Services, Inc., a publicly traded provider of water management and chemical solutions to the energy industry. Prior to that, she was Chairman and CEO of Rockwater Energy Solutions, where she also held earlier executive roles, including Chief Financial Officer. Earlier in her career, Ms. Ladhani served as Executive Vice President and CFO of Dynegy Inc., and began her professional journey at PricewaterhouseCoopers.

    Ms. Ladhani currently serves on the boards of Quanta Services, Inc. (NYSE: PWR), AmSpec, and the forthcoming Amrize spin-off from Holcim (NYSE: AMRZ). She previously served on the boards of Marathon Oil (until its acquisition by ConocoPhillips in 2024), Atlantic Power, Noble Energy, and Rosetta Resources. She has also served on the Board of Trustees of Rice University since 2018. Ms. Ladhani holds a Bachelor of Business Administration in Accounting from Baylor University and an MBA from Rice University.

    Michael N. Mears is an accomplished executive in the energy infrastructure sector and an experienced director in the energy and power sectors. Mr. Mears most recently served as Chairman, President, and Chief Executive Officer of Magellan Midstream Partners, L.P., a publicly traded pipeline and storage company, from 2011 until his retirement in April 2022. He joined Magellan at its formation in 2002 and held several senior leadership roles, including Chief Operating Officer and Senior Vice President of Transportation and Terminals. Prior to Magellan, Mr. Mears held a range of management positions at Williams Pipeline Company, the predecessor to Magellan, where he began his career in 1985.

    Mr. Mears currently serves on the boards of Devon Energy Corporation (NYSE: DVN) and Sempra (NYSE: SRE). At Sempra, he chairs the Corporate Governance Committee and serves on the Executive and Compensation and Talent Development Committees. Mr. Mears holds a Bachelor of Science degree in Chemical and Petroleum Refining Engineering from the Colorado School of Mines.

    “We are honored to welcome Holli and Mike to KYN’s Board of Directors,” said Jim Baker, Chairman, President, and CEO. “Their extensive experience in the energy and power sectors – as both senior executives and directors – will bring valuable insight to our Board. The energy and power infrastructure sectors continue to be very dynamic, and I am confident their insights will strengthen our ability to evaluate opportunities in these sectors with greater perspective,” concluded Mr. Baker.

    Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

    The Company pays cash distributions to common stockholders at a rate that may be adjusted from time to time. Distribution amounts are not guaranteed and may vary depending on a number of factors, including changes in portfolio holdings and market conditions. 

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company’s investment objectives will be attained.

    Contact investor relations at 877-657-3863 or cef@kayneanderson.com.

    The MIL Network

  • MIL-OSI USA: Chairman Aguilar: Only Democrats want to make health care more accessible and more affordable

    Source: US House of Representatives – Democratic Caucus

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI – May 20, 2025

    WASHINGTON, D.C. — Today, House Democratic Caucus Chair Pete Aguilar and Vice Chair Ted Lieu were joined by Representatives Kim Schrier, M.D. and Shontel Brown for a press conference about the Republican Budget, which kicks millions of Americans off their health insurance and prevents families from meeting their basic needs. 

    CHAIRMAN AGUILAR: I’m grateful to be joined by Vice Chair Lieu and Dr. Schrier and Representative Brown for joining us here today to talk about the importance of protecting health care and nutrition across this country.

    I want to begin by offering our condolences to the victims of deadly storms in Missouri and Kentucky. We also want to send President Biden and his family our support as they grapple with the former President’s cancer diagnosis. We know that Joe Biden will approach this fight with the same grace that he’s shown throughout his life. We also know that Joe Biden would be the first to say that every American deserves the same level of health care that he is being provided.

    That’s why House Democrats are fighting to protect health care that Donald Trump and House Republicans are attacking. In the dead of night, House Republicans are working to ram through their agenda to kick millions of Americans off of health insurance and to take food assistance from families who need it most. As grocery prices rise, they’re going to take food out of the mouths of mothers, children and veterans, while making health care even more expensive—just for the single purpose of providing more tax cuts for billionaires and corporations who continue to make record profits. Remember: the Republican Budget doesn’t make Medicaid or SNAP more efficient or more fair. All this bill does is ensure that billionaires—who have never had to worry about a hospital bill or putting food on the table—can continue to pay less in taxes than teachers, firefighters and nurses. 

    Only Democrats want to make health care more accessible and more affordable for everyone. Republicans are hellbent on driving up costs for health insurance and ending basic needs programs. They are willing to inflict pain on millions of Americans just to make their campaign donors happy. That. Is. Wrong. And we will continue to fight back at every step for the American people so they can have the peace of mind of a good-paying job with good benefits. 

    Next, I’ll turn it over to Vice Chair Ted Lieu.

    VICE CHAIR LIEU: Thank you, Chairman Aguilar, and honored to be joined today by Congressmembers Kim Schrier and Shontel Brown. First, I’d like to talk about the charges against Congresswoman LaMonica McIver. Those charges are baseless and politically motivated. Three reasons why: First, Congresswoman McIver had a statutory authority to be at that detention center; she was conducting her oversight duties. Second, if what she did was purportedly so awful that it results in criminal charges, how is it possible they literally gave her a tour of the facility? Afterwards, they escorted her around and gave her a tour of that facility while she was conducting oversight. And third, she was trying to prevent the unlawful arrest of the Mayor of Newark. And guess what? She was right. Because the Trump Justice Department dropped all charges against the Mayor of Newark. So, we asked them to also drop charges against LaMonica. This is a baseless, politically motivated distraction.

    And what are they distracting us from? This big, ugly bill that they’re going to have a meeting on at 1 a.m. in the morning. I mean, who does that, right? You do that because you don’t want the American public to know what’s in your big, ugly bill. But we know what’s in it. It has the largest cut to health care in U.S. history, about a trillion dollars. And then also, it’s going to kick off approximately 14 million people off health care. And why are they doing this? To impose the largest tax cut for billionaires in U.S. history. So that’s basically what this big, ugly bill does. And they’re trying to move it through in the dead of night at 1 a.m. We asked the Republicans to listen to the American people and work on what Democrats are trying to work on, which is lowering the cost of rent and groceries and consumer products. That’s what we should be focused on. And it’s now my honor to introduce the great Representative from the State of Washington, Dr. Kim Schrier. 

    REP. SCHRIER: Well, thank you, Vice Chair Lieu. It’s really an honor to be here, but the reason is outrageous, and I want to express that outrage on behalf of my constituents. That the Republicans at this moment are attempting to make the largest cut ever in Medicaid, and the largest cut ever in SNAP, that would be $715 billion out of Medicaid, which would kick 13.7 million Americans off of their health insurance. And let me just reiterate, why are they doing this? They are doing this to pay for a tax cut for the wealthiest Americans, like Elon Musk. It is morally bankrupt and it is fiscally, incredibly irresponsible. We just spent 26 and a half hours in the Energy and Commerce Committee last week, spending the vast majority of that time—and by the way, starting at about two o’clock in the morning—talking about these cuts to Medicaid and how they would devastate our constituents and also the broader health care system.

    I want to be clear, one out of three Washingtonians depend on Medicaid. Most of them don’t even know they’re on Medicaid, because we call it Apple Health, and I’m trying to make that point so that people understand how this impacts them personally. So I think about, as a pediatrician, I think about my patients on Medicaid or on Apple Health who will no longer be able to come to their pediatrician’s office for screenings, for a simple cold, for a cough and get treated in a half hour. Now they’re going to go to the emergency room, the most expensive place to get care. They’re going to drive up costs: that cost will be provided for free, and then everybody pays. And I think then about my patients who are not on Medicaid, because they’re going to be waiting longer in the emergency room, they’re going to be paying more. Premiums are going to go up if we want to keep these hospitals and emergency rooms open. And that brings us to other parts of my district, the rural areas, where hospitals may close because they depend so heavily on Medicaid and Medicare. 

    I want to tell you a quick story of a little four-year-old girl named Ila in my district. She is the outcome of a normal, uneventful pregnancy. She was lucky enough to go to our rural hospital called Kittitas Valley Healthcare, and they have a labor and delivery department. She was delivered. There were major complications. She almost died, but they had the staff and the expertise to rescue her, to stabilize her and to Life Flight her to Seattle Children’s. And then I have been reflecting, as have her parents, who are insured, about what would have happened had Medicaid been cut, had labor and delivery there been cut, had she not had that opportunity for rescue and for transport to save her life, and we all know what the answer would have been. I’ve been in hundreds of deliveries. Some go well, some don’t, and you don’t always know until that moment. So I want to emphasize, Medicaid is part of the three-legged stool that is our health care system. If Medicaid is cut in this dramatic way, that stool will fall. It’ll mean hospital closures, higher rates for all of us, emergency room long waits, a sicker community and a poorer community and it is reckless and morally reprehensible. So at this point, I’m going to turn this over to Representative Shontel Brown from Ohio to talk about the terrible cuts that they are doing to food benefits, also for our most vulnerable populations. Thank you. 

    REP. BROWN: Thank you, doctor. Good morning, everyone. I’m Congresswoman Shontel Brown, Vice Ranking Member of the House Agriculture Committee and representing Ohio’s 11th Congressional District. I’m honored to be here along with Chair Aguilar, Vice Chair Lieu and Congresswoman Schrier. Last week, we saw this legislation up close in the Agriculture Committee, and Ranking Member Craig and my Democratic colleagues on Agriculture fought this legislation for two days. I didn’t just read the bill, I felt it. I felt the cruelty. I felt the callousness. And let me tell you, I was angry. I am still angry. $300 billion in cuts. Let me repeat that: $300 billion in cruel, calculated cuts to nutrition programs. And on top of that, onerous new restrictions and requirements that are designed to deny people the help they need. If this bill passes, millions—yes, millions—of Americans are going to lose nutrition benefits they desperately need. And for what? The biggest cut to food assistance in history, just to hand millionaires a $68,000 tax break, and the top .1 percent a staggering $300,000?

    Let me tell you what this means for my community. One in five. One in five households in my district in Northeast Ohio rely on SNAP. That’s not some statistic from somewhere. That’s my neighbors, that’s my family. Those are my church members. It is me. Because growing up, I was one of those households. And the issue of work requirements really hits home for me, literally. I had epilepsy growing up. I had petit mal seizures and my mother—my strong, brave, exhausted mother—couldn’t work, not because she didn’t want to, but because she couldn’t leave her child who might collapse at any moment. My mom didn’t want to be on food stamps. No parent wants that, but we needed it. And this bill, this bill, would have denied us that lifeline. We’re taking assistance away from people that need it to give those resources to people that don’t.

    Make no mistake, this is not fiscal responsibility. This is not belt-tightening. This is a giveaway. People who rely on SNAP, they’re not leading easy lives. They’re caregivers. They have people at home with disabilities and serious illnesses, children. And these folks are not hard to find. I had one woman contact me, Cheryl from Cleveland Heights. She’s retired. Her husband is disabled. Her father is 92 years old and he’s disabled. She worked in advertising for 25 years. Now, she’s got a house full of people to take care of, and they rely on SNAP. This bill punishes Cheryl and people like her. It takes away the basic benefits they need to survive, all to pay for tax cuts for the wealthiest among us. And make no mistake, this bill will make us sicker. This bill will make us poorer. This bill will make us weaker. So it is my privilege to stand here with my colleagues and fight this bill. We cannot let this pass. 
     

    Video of the full press conference and Q&A can be viewed here.

    ###

    MIL OSI USA News

  • MIL-OSI USA: Turkish Manufacturer will Establish First American Facility in Wayne County, Create 216 Jobs

    Source: US State of North Carolina

    Headline: Turkish Manufacturer will Establish First American Facility in Wayne County, Create 216 Jobs

    Turkish Manufacturer will Establish First American Facility in Wayne County, Create 216 Jobs
    lsaito

    Raleigh, NC

    Today Governor Josh Stein announced that Pelsan Tekstil A.S., a global leader in breathable film technologies for the hygiene and medical sectors, will establish its first production facility in the United States in Wayne County, creating 216 jobs. The company will make an $82.6 million investment in Goldsboro.

    “North Carolina is pleased to welcome Pelsan as it opens its first facility in the United States,” said Governor Stein. “Our skilled workforce, combined with North Carolina’s convenient East Coast location, enables companies to efficiently produce and deliver high-quality products to their customers.”

    Pelsan was established in 2006 as a subsidiary to the Hassan Group, which has more than 80 years of experience in nonwoven and polymer film technologies. Pelsan was the first company in Turkey to manufacture breathable polyethylene films and today offers one of the industry’s most advanced product portfolios. The company’s project in Goldsboro establishes its first U.S. facility for manufacturing various lines of breathable films for hygiene and medical applications, enabling Pelsan to respond more efficiently to rising demand across North America.

    “This expansion is a major strategic milestone for us,” said Ali Sisman, CEO of Pelsan Tekstil. “Our decision to invest in North Carolina underscores our belief in the region’s strong workforce, robust infrastructure, and its alignment with our values of innovation and collaboration. This facility represents a significant new chapter in our company’s journey. We are at a pivotal moment – at the intersection of life and innovation. This journey of transformation and progress is not just ours, but one we share with every individual seeking change, growth, and a better tomorrow.”

    “We continue to see strong interest in our state from international companies looking to expand into North America,” said Commerce Secretary Lee Lilley. “Our business-friendly reputation and proven competitive advantages continue to attract top-tier companies like Pelsan from around the globe.”

    Although wages will vary depending on the position, the average salary for the new jobs will be $48,789. The current average wage in Wayne County is $46,211.

    The company’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by more than $719.5 million. Using a formula that takes into account the new tax revenues generated by the new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $2,065,000, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.

    The project’s projected return on investment of public dollars is 115 per cent, meaning for every dollar of potential cost, the state receives $2.15 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.                           

    “We welcome this vote of confidence in Wayne County, Goldsboro, and our state overall,” said Representative John Bell. “These new manufacturing jobs and the company’s significant capital investment will bring new job opportunities for our people and will boost the local economy.”

    “The new jobs and the investment into Goldsboro will bring economic growth and stability to Eastern NC”, said Senator Buck Newton. “On behalf of Wayne County, we welcome Pelsan to our community and we will continue to support this company as it grows. I am looking forward to witness the benefits this project will bring.”

    In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in this project include the North Carolina General Assembly, the North Carolina Community College System, Wayne Community College, North Carolina Global TransPark Economic Development Region, Wayne County, the City of Goldsboro, Wayne County Development Alliance, North Carolina’s Southeast, and Duke Energy. 

    May 27, 2025

    MIL OSI USA News

  • MIL-OSI Europe: Written question – Inclusion of nuclear energy production targets and deployment pathways in the revised PINC – E-001997/2025

    Source: European Parliament

    Question for written answer  E-001997/2025
    to the Commission
    Rule 144
    Matej Tonin (PPE), François-Xavier Bellamy (PPE), Tomas Tobé (PPE), Jörgen Warborn (PPE), Virgil-Daniel Popescu (PPE), Susana Solís Pérez (PPE), Pilar del Castillo Vera (PPE), Paulius Saudargas (PPE), Christophe Grudler (Renew), Elżbieta Katarzyna Łukacijewska (PPE), Aura Salla (PPE)

    The Clean Industrial Deal aims to enhance European competitiveness and decarbonisation, but its success hinges on the availability of affordable, reliable clean energy. Prominent authorities in the field such as the International Energy Agency have highlighted that nuclear energy can contribute to lower energy costs while improving energy security[1].

    Given this, and in the light of recent studies, such as that published by Compass Lexecon in 2024[2] showing that increasing European nuclear power capacity from 100 GW to 150 GW by 2050 could reduce energy system costs and accelerate emissions reductions, can the Commission clarify:

    • 1.whether it plans to include concrete production and deployment targets for nuclear energy – including large-scale reactors, lifetime extensions, and new technologies such as small modular reactors – in the upcoming revision of the nuclear illustrative programme (PINC);
    • 2.how the PINC will be aligned with the broader goals of the Clean Industrial Deal, and in particular, how the Commission will ensure that nuclear energy is treated on equal footing with other clean technologies in policy instruments that support industrial electrification and decarbonisation?

    Submitted: 19.5.2025

    • [1] International Energy Agency, Nuclear Power and Secure Energy Transitions – From Today’s Challenges to Tomorrow’s Clean Energy Systems, June 2022, https://www.iea.org/reports/nuclear-power-and-secure-energy-transitions.
    • [2] Compass Lexecon, Pathways to 2050: the role of nuclear in a low-carbon Europe – Final report, 15 October 2024: https://www.nucleareurope.eu/project/pathways-to-2050/.
    Last updated: 27 May 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Energy policy: strategic dependence on the US – E-000241/2025(ASW)

    Source: European Parliament

    A key pillar of the REPowerEU plan, setting out the EU’s path to phasing out Russian energy imports, entails the EU diversifying gas imports from global partners, including the United States (US).

    The EU and its Member States have made great progress in recent years in terms of gas supply diversification and will continue to strive for a gas supply as diversified as possible, working with partners like Norway, the US, Mediterranean countries and other gas and liquified natural gas (LNG) suppliers worldwide, while accelerating its clean energy transition and stepping up work on affordability and sustainability.

    Diversifying energy supplies also entails accelerating deployment of home-grown renewable energy and increasing energy efficiency, which improves the resilience and increase EU’s energy independence while advancing our climate objectives.

    The Hydrogen and Decarbonised Gas Markets Package stipulates that contracts for unabated fossil gas cannot run beyond 31 December 2049[1].

    Domestic energy production reduces dependence on external suppliers and reduces the exposure of the EU to external geopolitical instability. Therefore, domestic energy reinforces the security of energy supply of the EU.

    Moreover, it is for Member States to decide their supply mix and the energy sources they want to develop, while complying with climate objectives.

    Fossil fuel extraction is not eligible for EU financial support. Natural gas infrastructure other than those under Article 24 of Regulation (EU) 2022/869 are not eligible for funding under the Connecting Europe Facility.

    • [1] Article 31(3) of Directive (EU) 2024/1788 on common rules for the internal markets for renewable gas, natural gas and hydrogen.
    Last updated: 27 May 2025

    MIL OSI Europe News

  • MIL-OSI Canada: Removing the consumer carbon price from Canadian law

    Source: Government of Canada News

    The Government of Canada is proposing legislative amendments that would permanently repeal the fuel charge framework under Part 1 of the Greenhouse Gas Pollution Pricing Act (GGPPA) in the following four phases to ensure an orderly process for charge payers. These proposed amendments follow the regulations made in March that already ceased the application of the federal fuel charge, effective April 1, 2025.

    Phase 1: Charging Provisions Repealed effective April 1, 2025

    Effective April 1, 2025, nearly all charging provisions would be retroactively repealed, to reflect in legislation what has already been accomplished by regulations.

    The only remaining charging provision would be a special rule for certain railways in respect of past fuel charge consumption that needs to be trued-up. Certain railways pay fuel charge based on estimates and must perform a true-up exercise on their fuel charge obligations in respect of the previous year. This provision would remain until October 1, 2025 to allow for this exercise to take place in respect of fuel charge obligations incurred prior to April 1, 2025.

    Phase 2: Rebate Provisions Repealed effective October 1, 2025

    Effective October 1, 2025, all rebate provisions would be repealed. Certain uses of fuel after April 1 but prior to October 1 may give right to a rebate (e.g., fuel charge embedded fuel that is exported during this period). This aligns with the treatment of rebates under the regulations made in March 2025.

    Rebates for charge paid in error and rebates for reassessment (e.g., to correct accounting mistakes in returns) would continue to be available until the final repeal phase.

    Phase 3: Registration Provisions Repealed effective November 1, 2025

    Effective November 1, 2025, all registration provisions would be repealed. This would give registrants until October 31, 2025, to file returns to claim rebates arising before October 1, 2025. Beyond this date, registration rules are no longer needed.

    Phase 4: Remaining Provisions Repealed effective April 1, 2035

    Effective April 1, 2035, the remaining provisions of Part 1 of the GGPPA would be repealed, including definitions, interpretation rules, administrative and procedural rules, etc. This would provide continuity and certainty for final wind down activities, including CRA administrative processes that may continue to rely on existing rules. Subject to the normal limitation periods in the Act, the CRA would also continue to have legal authority to make reassessments, and charge payers to file amended returns, in respect of fuel charge obligations that accrued prior to April 1, 2025.

    Related product

    MIL OSI Canada News

  • MIL-OSI USA: Rep. Mike Levin Opposes Location of Compass Energy Storage Project in South Orange County

    Source: United States House of Representatives – Representative Mike Levin (CA-49)

    May 27, 2025

    San Juan Capistrano, CA – Today, Representative Mike Levin (CA-49) wrote to the California Energy Commission (CEC) in opposition to the location of the Compass Energy Storage Project, the 13-acre battery energy storage system proposed in the City of San Juan Capistrano and adjacent to the City of Laguna Niguel.

    Rep. Levin expressed concern that a potential disaster at the proposed location could have serious impacts on nearby residents, Trabuco Creek, and Interstate 5. Such a disaster could require mobilization of federal first responder assets on Marine Corps Base Camp Pendleton or those managed by the U.S. Forest Service.

    The full text of the letter can be found here and below:

    Dear Chair Hochschild,

    I write to express my opposition to the location of the Compass Energy Storage Project, the 13-acre battery energy storage system proposed in the City of San Juan Capistrano and adjacent to the City of Laguna Niguel. I understand that the project is under review by the California Energy Commission (CEC), which is the lead agency preparing associated environmental documents.

    I strongly support the development of clean energy infrastructure to facilitate our nation’s transition away from fossil fuels and their associated impacts, chiefly climate change. Further, I recognize the important role battery storage plays in helping to smooth the so-called “duck curve,” ensuring we have emission-free electricity available at the times of greatest demand.

    However, I have also been a longtime proponent of smart planning and siting of these projects. For the last four Congresses, I have sponsored the Public Land Renewable Energy Development Act, which would require “smart from the start” planning of clean energy projects on public land. This process would ensure that the projects are sited in a way that reduces any negative impacts, including to the environment.

    I do not believe that the application to build the Compass Energy Storage Project on its currently proposed site meets these same “smart from the start” principles I have long advocated for at the federal level. The project would be situated near sensitive areas – relatively close to homes and adjacent to Trabuco Creek – and alongside critical infrastructure – primarily, Interstate 5. Should there be any kind of disaster at the project, nearby residents may be severely impacted, as could the water quality of the creek. Any extended shutdown of I-5 would hurt the commerce of our region.

    In the event of a fire, there would likely be a federal role in the response, whether from assets on Marine Corps Base Camp Pendleton or those managed by the U.S. Forest Service. It is my mission to ensure that these federal disaster response authorities always have the resources they need to be effective.

    I urge the CEC to reject the currently proposed location of the Compass Energy Storage Project. Should you have any questions about my position, please reach out to my office.

    Sincerely,

    Mike Levin

    Member of Congress

    ###

    MIL OSI USA News

  • MIL-OSI: XRP News: Buy $XDX Token Built On Ripple Blockchain As Token Sales Ends in About 24 Hours Before Listing On XRP Exchanges

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, May 27, 2025 (GLOBE NEWSWIRE) — With only about a day remaining in the XenDex presale, investors are running out of time to secure $XDX tokens at presale pricing. The urgency is further amplified by Ripple’s reported acquisition of Circle (USDC issuer) and the launch of the XRPI Futures ETF by Volatility Shares, two monumental milestones signaling growing institutional interest in XRP.

    Buy $XDX Before Exchange Listing

    As XRP gains bullish momentum, XenDex is positioning itself as the XRP Ledger’s leading DeFi platform, and analysts predict a major price surge once $XDX lists on major exchanges.

    What is XenDex on XRP Blockchain?

    XenDex is the first all-in-one decentralized exchange (DEX) built natively on the XRP Ledger (XRPL). The platform combines fast trading, low fees, and powerful DeFi features into one seamless interface optimized for both beginners and advanced users.

    Purchase XDX And Earn Rewards

    Features and Problems XenDex Solves on XRPL

    Despite XRP’s efficiency, the ecosystem has lacked true DeFi capabilities until now. XenDex introduces:

    • AI Copy Trading – Mirror trades from top-performing wallets
    • Lending & Borrowing – Lend and borrow crypto assets without intermediaries
    • Cross-Chain Trading – Swap XRP with tokens from other blockchains like Ethereum, BNB, Solana
    • DAO Governance – Vote on platform decisions using $XDX

    Why Should I Buy $XDX?

    Holding $XDX grants:

    • Governance rights
    • Fee discounts on trades, lending and borrowing
    • Staking and yield farming rewards
    • Access to exclusive airdrops and access to platform features

    Early adopters also stand to benefit from potential price appreciation post-listing.

    Where Can I Trade $XDX?

    After the presale, $XDX will list on: Binance, Gate.io, MEXC, BitMart, MagneticX, FirstLedger

    Is XenDex Legit?

    Purchase $XDX At Its Cheapest Price

    Yes. XenDex is built by experienced crypto-native developers from Cardano and SUI, and the platform is undergoing smart contract audits. Integrations with Xaman, XRP Toolkit, and Gitbook ensure a trusted foundation.

    How Do I Buy $XDX?

    For a full buying guide, visit: https://xdxdocs.gitbook.io/xendex/buy-usdxdx-token-presale

    XenDex Presale Details

    • Soft Cap: Reached
    • Hard Cap: Almost Filled
    • Rate: 1.25 XRP = 10 XDX
    • Minimum Buy: 150 XRP
    • Time Left: Only 1 Day Remaining

    Buy XDX Before Presale Ends: https://xendex.net/presale

    Join XenDex Community Below

    Website: https://xendex.net
    Presale: https://xendex.net/presale
    Telegram: https://t.me/xendexcommunity
    Twitter/X: https://x.com/xendex_xrp
    Docs: https://xdxdocs.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.
    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1691db6a-7b3a-46bb-a46f-e257d75f9dc6

    The MIL Network

  • MIL-OSI Global: Trump’s West Point speech brought partisanship to the home of the US military − 3 essential reads

    Source: The Conversation – USA – By Jeff Inglis, Environment + Energy Editor, The Conversation US

    President Donald Trump delivers the commencement address at West Point on May 24, 2025. AP Photo/Adam Gray

    President Donald Trump’s speech at the graduation of the class of 2025 from the U.S. Military Academy at West Point included segments that were clearly scripted and portions that were obviously not.

    During the unscripted portions, Trump, who wore a bright red “Make America Great Again” campaign hat during his entire appearance on May 24, 2025, delivered remarks that hit many of his frequent partisan political talking points. That included attacking presidential predecessors Barack Obama and Joe Biden, describing immigrants to the U.S. as “criminals” and trumpeting other policy accomplishments in his first and second terms.

    That level of partisanship in a military setting – on the campus of the nation’s first military academy, and before an audience of cadets and their families, many of whom are veterans – is unusual in the United States.

    The Conversation U.S. has published several articles discussing the importance to democracy of keeping the military and partisan politics separate. Here are three highlights from that coverage.

    1. Cadets focus on the Constitution

    During the West Point ceremony, the graduates themselves took an oath to “support and defend the Constitution of the United States against all enemies, foreign and domestic.” And all of them had studied the significance of that oath, including in classes like those taught by Joseph G. Amoroso and Lee Robinson, active-duty Army officers who graduated from West Point and later served as professors there.

    As Amoroso and Robinson wrote, those classes teach cadets that, like all military personnel, they serve the Constitution and the American people, not a particular person or political party:

    (O)ur oath forms the basis of a nonpartisan ethic. In the U.S., unlike in many other countries, the oath implies military leaders should be trusted for their expertise and judgment, not for their loyalty to an individual or political party. We emphasize to cadets the rules and professional expectations associated with this profound responsibility.”




    Read more:
    Military personnel swear allegiance to the Constitution and serve the American people – not one leader or party


    2. A tradition of nonpartisanship

    Retired U.S. Air Force Maj. Gen. Samuel C. Mahaney, who teaches history, national security and constitutional law at Missouri University of Science and Technology, observed:

    (S)ince the days of George Washington, the military has been dedicated to serving the nation, not a specific person or political agenda. … (N)onpartisanship is central to the military’s primary mission of defending the country.”

    Mahaney wrote that if Trump’s actions during his second term meant a change from the centuries of precedent, “military personnel at all levels would face a crucial question: Would they stand up for the military’s independent role in maintaining the integrity and stability of American democracy or follow the president’s orders – even if those orders crossed a line that made them illegal or unconstitutional?”

    Presenting a key question for military personnel.



    Read more:
    Trump’s firings of military leaders pose a crucial question to service members of all ranks


    3. Dating back to the founding of the nation

    Marcus Hedahl and Bradley Jay Strawser, professors of philosophy who teach military ethics at the U.S. Naval Academy and the Naval Postgraduate School, respectively, explain the reason for this long-standing focus on keeping politicians and politics separate from military action.

    To minimize the chance of the kind of military occupation they suffered during the Revolutionary War, the country’s founders wrote the Constitution requiring that the president, an elected civilian, would be the commander in chief of the military. In the wake of World War II, Congress went even further, restructuring the military and requiring that the secretary of defense be a civilian as well.”

    As they observed, “… the framers always intended it to be the people’s military – not the president’s.”




    Read more:
    Threatening ‘the enemy within’ with force: Military ethicists explain the danger to important American traditions


    This story is a roundup of articles from The Conversation’s archives.

    ref. Trump’s West Point speech brought partisanship to the home of the US military − 3 essential reads – https://theconversation.com/trumps-west-point-speech-brought-partisanship-to-the-home-of-the-us-military-3-essential-reads-257673

    MIL OSI – Global Reports

  • MIL-OSI USA: OPINION: Trump unleashes US nuclear renaissance with bold executive orders

    US Senate News:

    Source: US Whitehouse
    class=”has-text-align-center”>Trump Unleashes US Nuclear Renaissance with Bold Executive Orders
    By Michael Kratsios
    Fox News
    May 24, 2025
    In his famed 1953 “Atoms for Peace” speech, President Eisenhower proclaimed that “the United States knows that peaceful power from atomic energy is no dream of the future.” That dream was soon realized, as America built more than one hundred reactors over the next twenty-five years. But today, the promise of nuclear energy and innovation does indeed seem like a dream of the future.
    Through a series of executive orders signed this week, President Trump is taking action to usher in an American nuclear renaissance. For the first time in many years, America has a path forward for quickly and safely testing advanced nuclear reactor designs, constructing new nuclear reactors at scale, and building a strong domestic nuclear industrial base.
    Our stagnation was not for a lack of ingenuity or desire to innovate among America’s great scientists and technologists. By the end of the 1970s, dozens of nuclear reactors were planned or under construction. In the past 30 years, however, only three commercial nuclear reactors have been built, and many more have been shuttered. We know America can accomplish great feats in nuclear energy, so what happened?
    In the wake of the Three Mile Island accident in 1979, public opinion began to sour on nuclear energy, and the effects of a decade of new federal bureaucracies began to set in. Overly burdensome regulations stifled our ability to even test, let alone deploy, new nuclear technologies. The Nuclear Regulatory Commission (NRC) set the gold standard for safety regulation when it was established in 1975, but it soon transformed into a lead curtain for innovation. Onerous environmental requirements and long, uncertain regulatory timelines have killed industry’s willingness to fund new technologies.
    Similarly, the Department of Defense (DOD) and the Department of Energy’s (DOE) National Labs—which once led the world in the development and demonstration of advanced nuclear technologies—shuttered nuclear development programs, shifting focus to other priorities.  All but three of fifty-two reactors at Idaho National Laboratory have been decommissioned, and it has been almost half a century since the Army Nuclear Power Program was shut down. These decisions eroded our domestic nuclear supply chain, undermined our national security, and left us having to relearn what we once pioneered.
    President Trump wisely recognizes that the time is ripe for an American nuclear renaissance and is acting to deliver on the promise of nuclear energy for the American people. Across the country, American entrepreneurs and engineers are launching a new generation of nuclear companies featuring innovative reactor designs and scalable manufacturing techniques that can make nuclear safe, efficient, and economic. The Trump Administration will clear their path by dismantling outdated barriers that previous administrations had put up in their way.
    Today, nuclear power plants provide approximately 19% of the electricity generated in the United States, more than solar and wind combined. That is reliable and affordable electricity for the American people, and it could and should be even more. The Trump Administration is setting the goal of expanding American nuclear energy capacity from 100 GW today to 400 GW by 2050. This week’s executive actions will help us reach that goal in four ways.
    First, we are going to fully leverage our DOE national laboratories to increase the speed with which we test new nuclear reactor designs. There is a big difference between a paper reactor and a practical reactor. The only way to bridge that gap—understanding the challenges that must be surmounted to bring reactors to the market, and building public trust in their deployment—is to test and evaluate demonstration reactors. 
    Second, for our national and economic security, we are going to leverage the Departments of Defense and Energy to build nuclear reactors on federally owned land. This will support critical national security needs which require reliable, high-density power sources that are invulnerable to external threats or grid failures.
    Third, to lower regulatory burdens and shorten licensing timelines, we are asking the NRC to undergo broad cultural change and regulatory reform, requiring a decision on a reactor license to be issued within 18 months. This will reduce regulatory uncertainty while maintaining nuclear safety. We will also reconsider the use of radiation limits that are not science based, impossible to achieve, and do not increase the safety of the American people. 
    Fourth, we will be supporting our domestic nuclear industrial base across the nuclear fuel cycle.  The President has called for industry to start mining and enriching uranium in America again, as well as an expansion of domestic uranium conversion capacity as well as enrichment capabilities to meet projected civilian and defense reactor needs.
    When President Eisenhower spoke about nuclear potential over 70 years ago, he expressed no doubt that the world’s best scientists and engineers, if empowered to “test and develop their ideas,” could turn nuclear energy into a “universal, efficient, and economic” source of power. In 2025, we have only to believe in American technologists, and give them the chance to build, to turn nuclear power into energy dominance and national security for all.

    MIL OSI USA News