Category: Energy

  • MIL-OSI Global: How a community-focused vision for net zero can revive local economies

    Source: The Conversation – UK – By Max Lacey-Barnacle, Senior Research Fellow, Science Policy Research Unit, University of Sussex

    Kampan/Shutterstock

    Across the world, the transition to a green economy is under threat. Growing antipathy towards the costs of tackling climate change, stoked especially by right-wing populists, undermines ambitions to reach net zero emissions by 2050.

    In the UK, leader of the opposition Kemi Badenoch recently described achieving net zero by 2050 as “impossible”, stating that it would bankrupt the country. Reform, a major rival to the right of Badenoch’s Conservative party want to scrap the UK’s net zero targets altogether.

    A new vision of net zero is urgently needed. To help fund the UK’s transition to a green economy, the UK government seeks to attract private investment from international corporations that are not based in the UK.

    The Indian company Tata Group is investing £4 billion in eletric vehicles (EVs) and battery production in the UK. Danish company Orsted has invested £15 billion in UK offshore windfarms in the last decade. French company EDF Energy has invested £4.5 billion in net zero technologies and infrastructure in the UK.

    This approach comes with considerable risks. Profits can be extracted out of local economies, which benefits the shareholders of international corporations, not UK businesses.

    Ownership can also change between private entities and move even further afield. Last year, Orsted sold stakes in four UK offshore wind farms to a Canadian investment company.

    UCL climate scientist Mark Maslin explains net zero.

    But there’s an alternative that directly strengthens the resilience of the UK’s economy. Community wealth building is a model of economic development that ensures any profits generated from new green industries is recirculated within the local economy.

    To make this happen, communities need support from so-called “anchor institutions”. These are large organisations that are “anchored” to their local economy and cannot relocate, because their ownership structure is tied to a particular location. Think universities, hospitals or local government institutions.

    Within this approach, anchor institutions procure goods and services from nearby suppliers, so they circulate money locally and strengthen regional supply chains.

    This concept originated over a decade ago in the US. It’s since been applied in Canada, Australia, Ireland and the Netherlands.

    For the past four years, I’ve been exploring how community wealth building is becoming embedded in the UK’s fast-growing green economy.

    UK anchors and the green economy

    In north-west England, Preston city council retained the procurement spend of anchor institutions located in Preston city to the tune of £112.3 million in 2020 – £74 million more than in 2012/13.

    In Oldham in northern England, the council supported the development of community-led energy plans in two neighbourhoods, Sholver and Westwood. The plans outlined what a decarbonised heat, electricity and transport system would look like for each area. The council launched a website to share energy efficiency advice. The council also helped to set up two local community energy projects.

    Oldham Community Power installed solar panels on five primary schools and a community building to reduce their energy bills. Saddleworth Community Hydro have used excess profits from the sale of renewable electricity in 2023 to fund £58,000 worth of local sustainability projects.

    Some local councils in the UK are adopting a community wealth building approach.
    witsarut sakorn/Shutterstock

    The council in Lewes in southern England have committed to using community wealth building to transition towards net zero. Hundreds of houses have been retrofitted to increase their energy efficiency, with retrofit contracts arranged with local companies. EVs are being used to collect food waste. New sustainable housing is being built by local tradespeople using locally sourced materials wherever possible.

    The Lewes Climate Hub hosts community events and green business workshops in a council-owned property. Procurement spend by local anchor institutions has also doubled from £5m in 2020 to £10m in 2024.

    In North Ayrshire, Scotland, two municipally owned solar PV farms on council-owned land have generated a £13 million budget surplus. This has been redirected towards addressing fuel poverty by making low-income homes more energy efficient. The council’s new green jobs fund has supported over £1.14 million of investment into 65 businesses to enable a range of sustainability related measures.

    Encouragingly, more plans to bring together community wealth building and net zero continue to emerge. In London, partnerships between anchor institutions and community energy organisations could be integral to developing 1,000 community energy projects across the capital by 2030.

    Successful scale-up of community wealth building will require strong leadership, political commitments and supporting strategies that align with the green economy. Already, some initiatives are beginning to generate wealth through the green economy and keeping it in local communities, rather than ownership and profits going to distant corporations.

    To counter a rising opposition to net zero in the UK, prioritising community-focused visions that revive local economies will be vital.


    Don’t have time to read about climate change as much as you’d like?

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    Max Lacey-Barnacle receives funding from The British Academy.

    ref. How a community-focused vision for net zero can revive local economies – https://theconversation.com/how-a-community-focused-vision-for-net-zero-can-revive-local-economies-252955

    MIL OSI – Global Reports

  • MIL-OSI: Apollo Funds to Acquire Hav Energy from HitecVision

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK and STAVANGER, Norway, May 06, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and HitecVision, a leading investor in the European energy industry, today announced that Apollo-managed funds (the “Apollo Funds”) have agreed to acquire maritime liquefied natural gas carrier (“LNGC”) infrastructure platform Hav Energy LNG Holding AS (“Hav Energy”) from HitecVision. Financial terms were not disclosed.

    Established by HitecVision in 2022, Hav Energy invests in LNGC infrastructure projects in partnership with Knutsen LNG, a large owner-operator of LNGCs globally, and jointly owns a portfolio of 10 newbuild LNGCs which are 100% contracted on long-term charters with investment grade counterparties. The portfolio includes two modern operating vessels and eight under construction at the Hyundai Heavy Industries shipyard in Korea due to be delivered in 2025 and 2026.

    Global LNG imports are forecast to reach over 600 million metric tons annually by 2040, driven by growth in Asia and Europe as well as efforts to cut emissions in heavy industries and transportation, and expectations for robust new liquification capacity coupled with limited newbuild LNG vessel supply also provide strong tailwinds supporting Hav Energy’s future growth trajectory.

    Apollo Partner Joseph Romeo said, “Hav Energy has quickly scaled into a top platform facilitating the global transport of LNG, which we view as a bridge fuel capable of reducing emissions for rapidly growing power demand. We are excited to work with the Hav Energy team and their aligned, well-regarded partners in Knutsen to accelerate growth of the platform, which we believe can serve as a vital infrastructure link supporting enhanced energy resiliency for customers around the world.”

    Hav Energy CEO Randi Vestbø said, “This transaction represents a critical juncture for Hav Energy as we continue to build a next-generation fleet of LNG infrastructure carriers and pursue attractive growth opportunities to expand our capabilities alongside our new partners at Apollo. We are grateful for the guidance, backing and strategic support from HitecVision, which has been instrumental in our development and positions us for our next phase of growth as industry tailwinds continue to drive long-term LNG demand globally.”

    HitecVision Senior Partner Jan H. Solstad said, “We are proud that we in partnership with Knutsen LNG and the Hav management team have been able to develop Hav LNG into a differentiated, highly scalable platform, leveraging HitecVision’s significant expertise in building companies within the energy space. With a leading management team, strong institutional partners and clear strategy, we believe Hav Energy is well positioned for future success.”

    Thommessen, Stephenson Harwood LLP and Vinson & Elkins LLP served as legal counsel to the Apollo Funds. HitecVision has been advised by DNB Markets and law firm BAHR.

    About Apollo

    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.

    About Hav Energy

    Hav Energy is a Norway-based energy infrastructure company established by HitecVision in 2022. The current asset portfolio has 10 state-of-the-art newbuild LNG vessels co-owned and operated by Knutsen LNG. 

    About HitecVision

    HitecVision is a Norwegian private equity firm and a leading provider of institutional capital to Europe’s energy industry. For almost four decades, we have been investing in the energy sector, starting out in the oil and gas industry before turning to the current focus on decarbonisation and energy transition. We have about EUR 9 billion in assets under management, and is headquartered in Stavanger, with offices and investment professionals in Oslo, London and Milan. Our 65-person team focuses on developing profitable and sustainable companies, working closely with our management teams and boards.

    Contacts

    For Apollo:

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    212-822-0540
    IR@apollo.com.

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    212-822-0491
    Communications@apollo.com.

    For HitecVision:

    Birgitte Kolstad
    Director Investor Relations
    Birgitte.Kolstad@hitecvision.com

    The MIL Network

  • MIL-OSI: Duos Technologies Group Sets First Quarter 2025 Earnings Call for Thursday, May 15, 2025 at 4:30 PM ET

    Source: GlobeNewswire (MIL-OSI)

    JACKSONVILLE, Fla., May 06, 2025 (GLOBE NEWSWIRE) — Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT) will hold a conference call on Thursday, May 15, 2025 at 4:30 p.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2025. Financial results will be issued via press release prior to the call.

    Duos management will host the conference call, followed by a question-and-answer period.

      Date:   Thursday, May 15, 2025
      Time:   4:30 p.m. Eastern time (1:30 p.m. Pacific time)
      U.S. dial-in:   877-407-3088
      International dial-in:   201-389-0927
      Confirmation:   13753649
           

    Please call the conference telephone number 5-10 minutes prior to the start time of the conference call. An operator will register your name and organization.

    If you have any difficulty connecting with the conference call, please contact DUOT@duostech.com.

    The conference call will be broadcast live via telephone and available for online replay via the investor section of the Company’s website here.

    About Duos Technologies Group, Inc.
    Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc., and Duos Energy Corporation, designs, develops, deploys and operates intelligent technology solutions for Machine Vision and Artificial Intelligence (“AI”) applications including real-time analysis of fast-moving vehicles, Edge Data Centers and power consulting. For more information, visit www.duostech.com , www.duosedge.ai and www.duosenergycorp.com.

    Forward- Looking Statements
    This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects — both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. All forward-looking statements attributable to Duos Technologies Group, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/99e27e1c-76bd-4efe-abb0-6ae0bff35e41

    This press release was published by a CLEAR® Verified individual.

    The MIL Network

  • MIL-OSI Global: As Warren Buffett prepares to retire, does his investing philosophy have a future?

    Source: The Conversation – Global Perspectives – By Angel Zhong, Professor of Finance, RMIT University

    Warren Buffett, the 94-year-old investing legend and chief executive of Berkshire Hathaway, has announced plans to step down at the end of this year.

    His departure will mark the end of an era for value investing, an investment approach built on buying quality companies at reasonable prices and holding them for the long term.

    Buffett’s approach transformed Berkshire Hathaway from a small textile business in the 1960s into a giant conglomerate now worth more than US$1.1 trillion (A$1.7 trillion).

    He built his fortune backing US industry in energy and insurance and American brands, including big stakes in household names such as Coca-Cola, American Express and Apple.

    At Berkshire’s annual meeting at the weekend, held in an arena with thousands of devoted investors, Buffett named Greg Abel as his successor.

    Abel, 62, is currently chairman and chief executive of Berkshire Hathaway Energy, as well as vice chairman of Berkshire Hathaway’s vast non-insurance operations.

    He’s known for his disciplined, no-nonsense management style. The company’s board has now voted unanimously to approve the move.

    This changing of the guard comes at a pivotal moment. Donald Trump’s return to the US presidency has already delivered significant economic policy shifts.

    Meanwhile, questions about US economic dominance grow louder against China’s continued rise.

    The ‘Oracle of Omaha’

    Few names command as much respect in the world of finance as Warren Buffett. Born in Omaha, Nebraska, in 1930, Buffett displayed an early genius for numbers and investing. He bought his first stock at age 11.

    His investment philosophy – buying undervalued companies with strong fundamentals – would later earn him the nickname the “Oracle of Omaha” for his uncanny ability to predict market trends and identify winning investments years before others did.

    Value investing

    Buffett drew his investment approach from the value investment principles of British-born US economist Benjamin Graham.

    He preferred businesses with lasting advantages and a clear value proposition. Some of his key investments included insurance company GEICO, railroad company BNSF, and more recently Chinese electric vehicle maker BYD.

    He avoided speculative bubbles (such as the dotcom bubble of the late 1990s and, more recently, cryptocurrencies) and preached long-term patience to investors. As he famously wrote in a 1988 letter to shareholders:

    In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

    Buffett’s guidance helped Berkshire navigate many economic booms and recessions. Over his six decades at the helm, the company delivered impressive compounded annual returns of almost 20% – virtually double those of the S&P 500 index.

    Beyond financial success, Buffett championed ethical business practices and pledged to donate more than 99% of his wealth through the Giving Pledge, which he cofounded with Bill Gates and Melinda French Gates.




    Read more:
    How Warren Buffett’s enormous charitable gifts reflect the ‘inner scorecard’ that has guided him up to the billionaire’s planned retirement


    Challenges to Buffett’s strategy in today’s world

    In an op-ed for the New York Times in 2008, Buffett famously shared the maxim that guides his investment decisions:

    Be fearful when others are greedy, and be greedy when others are fearful.

    But his strategy thrived in an era of increasing globalisation, free trade, and US economic supremacy. The world has shifted since Buffett’s heyday.

    There are concerns about the recent underperformance of value investing. Technology companies now dominate older industries.

    This raises questions about whether those who succeed Buffett can spot the next major industry disruptors.

    America first?

    Trump’s return as US president heralds major changes in economic policy. Trade restrictions might hurt some of Berkshire’s international investments. However, these same policies might benefit Buffett’s US-focused investments.

    The idea of US economic superiority also faces new questions. China may overtake the US economy in the 2030s. The US share of global economic output has fallen from about 22% in 1980 to about 15% today.

    Buffett’s “never bet against America” mantra faces new scrutiny.

    Warren Buffett discusses trade deficits and protectionism on May 3.

    The challenges for Buffett’s successor

    Abel inherits a company with about US$348 billion (A$539 billion) in cash. That’s a serious amount of capital to deploy wisely amid global economic uncertainty and Trump’s trade war.

    Abel will likely maintain Berkshire’s core values while updating its approach. His challenges include:

    1. Maintaining the “Buffett premium”: Abel lacks Buffett’s cult-like following among investors, which may gradually erode the additional value the market assigns to Berkshire due to Buffett’s leadership.

      Without Buffett’s reputation, Abel may face increased pressure to effectively deploy Berkshire’s massive cash pile in a still-expensive stock market, where valuations are high and finding bargains is harder than ever.

    2. Technological adaptation: while Berkshire has increased its technology investments over the years (including positions in Apple and Amazon), balancing its legacy holdings (such as Coca-Cola and railroads) with growth sectors (AI, renewables) remains challenging.

    3. Environmental concerns: Berkshire Hathaway’s heavy reliance on coal and gas-fired utilities has drawn growing criticism as investors and regulators demand cleaner energy solutions.

    4. Replicating the “golden touch”: Buffett’s genius wasn’t just in picking stocks. It was also in capital allocation, deal-making, and crisis management (for example, buying into Goldman Sachs during the global financial crisis). Can Abel replicate that?

    After Buffett

    Buffett’s principles – patience, intrinsic value and betting on America – are timeless. But the world has moved on. His successor must navigate geopolitical risks, technological disruption, and the rise of passive investing while preserving Berkshire’s unique culture.

    The post-Buffett era represents more than just a leadership change. It’s a test of whether Buffett’s principles can survive in an increasingly short-term, technology-dominated, and geopolitically complex world.

    Abel’s leadership will reveal the enduring power – or limitations – of Buffett’s philosophy.

    Angel Zhong 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. As Warren Buffett prepares to retire, does his investing philosophy have a future? – https://theconversation.com/as-warren-buffett-prepares-to-retire-does-his-investing-philosophy-have-a-future-255867

    MIL OSI – Global Reports

  • MIL-OSI Asia-Pac: LCSD launches first Hong Kong ICH Month in June (with photos)

    Source: Hong Kong Government special administrative region

         â€‹In the 2024 Policy Address, the Chief Executive proposed organising Hong Kong ICH Month to promote the safeguarding and passing on of Intangible Cultural Heritage (ICH). In support of the annual Cultural and Natural Heritage Day on the second Saturday of June designated by the country, the Intangible Cultural Heritage Office (ICHO) of the Leisure and Cultural Services Department (LCSD) will launch the first Hong Kong ICH Month in June with the theme of ICH Around Town, presenting a series of rich and diversified activities involving over 80 ICH performances, 60 interactive experiential booths and 20 ICH Highlight Tours to give the public and tourists greater insight into the ICH of Hong Kong and the Mainland, and enable them to experience the cultural richness of ICH and the pleasure it brings.

         â€‹Activities throughout the month will cover over 100 ICH items and bring together over 50 ICH practitioners, including representative bearers of national ICH. This annual ICH month is expected to attract over 100 000 participants.
     
         â€‹Among the fascinating activities to be held during Hong Kong ICH Month 2025, the free ICH Highlight Tours will bring the public and tourists to six selected districts, namely Yau Tsim Mong, Tsuen Wan, Tai Po, Sha Tin, Eastern and the Islands, and explore special ICH of the communities. Registration will open on May 16 and details will be announced later. Information maps and guides of the ICH Highlight Tours as well as videos will be rolled out at the end of May to help the public and tourists learn more about the relevant ICH items in these districts.

         â€‹Carnivals or fun days will be held in various districts across Hong Kong on several weekends and Sundays in June, which will be suitable for all ages. Under the theme of ICH festive events across Hong Kong, the Hong Kong ICH Month 2025 Opening Ceremony cum ICH Carnival to be held on May 31 and June 1 at the Hong Kong Cultural Centre Piazza, and will have performances including Hakka unicorn dance in Hang Hau in Sai Kung, floating colours parade in Cheung Chau, Engor, Cantonese opera excerpts and dragon/lion dance. There will also be interactive booths showcasing Yip Man Wing Chun; rowing of dragon boat on land, which is a part of Hoi Luk Fung/Hoklo traditional wedding ceremonies (dragon boat dance); and unicorn dance, etc.
     
         â€‹The ICH Infinity∞ Fun Day at the Hong Kong ICH Centre in Sam Tung Uk Museum in Tsuen Wan, scheduled for June 14 and 15, will present an ICH fashion show and Nanyin performances with a fusion of tradition and innovation. Interactive booths featuring blown sugar and face threading techniques will also be available.
     
         â€‹The Vibrant ICH will be held at the New Town Plaza and Sha Tin Town Hall on June 22. Under the theme of “ICH Encounter: Hong Kong X Jiangxi”, in addition to performances and booths featuring Hong Kong ICH items including the Pok Fu Lam fire dragon dance, puppetry and the Chinese brush making technique, there will also be performances of the representative items of the national ICH such as Gannan traditional tea plucking opera and Xingguo mountain song.

         â€‹The ICH Flavours Carnival to be held at Oil Street Art Space on June 28 and 29 will feature the food culture of ICH. Participants can experience the making techniques of Jiangxi Gannan Hakka pounded tea, shrimp paste blocks and shrimp paste, sweet potato cake and rice dumpling with lye at the workshops and booths.
     
         â€‹Another highlight is the “Genesis and Spirit – Intangible Cultural Heritage Exhibition on Jiangxi’s Ganzhou Hakka Culture” (tentative title) at the Hong Kong Central Library, which runs from June 14 to July 1. The exhibition will introduce representative Hakka-related ICH items of Ganzhou in Jiangxi, together with around 40 other representative ICH items from the province. During the exhibition period, there will be over 40 performances, demonstrations, interactive experiential activities, talks, etc.
     
         â€‹The LCSD will collaborate with the cultural promotion organisation ICH June to hold a seminar on the theme of “Safeguarding and Developing ICH at the Same Time” at the Hong Kong Heritage Museum on June 14. Scholars and ICH bearers from the Guangdong-Hong Kong Macao Greater Bay Area (GBA) will be invited to participate and explore the transmission and development of ICH in the GBA from an academic perspective. A “public unconference” will also take place on the same day to engage secondary school students, tertiary students, youth culture groups, and members of the public in discussions on ICH-related issues.
     
         â€‹Hong Kong ICH Month 2025 is presented by the Culture, Sports and Tourism Bureau and organised by the ICHO of the LCSD, with ICH June as a strategic partner. For details, please visit the website www.icho.hk/en/web/icho/hk_ich_month_2025.html.
     
         â€‹For programme details of strategic and other partners, please visit the following websites and social media:

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: REPORT on the deliberations of the Committee on Petitions in 2023 – A10-0063/2025

    Source: European Parliament

    MOTION FOR A EUROPEAN PARLIAMENT RESOLUTION

    on the deliberations of the Committee on Petitions in 2023

    (2025/2027(INI))

    The European Parliament,

     having regard to its previous resolutions on the outcome of the Committee on Petitions’ deliberations,

     having regard to Articles 10 and 11 of the Treaty on European Union (TEU),

     having regard to Articles 20, 24 and 227 of the Treaty on the Functioning of the European Union (TFEU) on the right of EU citizens and residents to bring their concerns to the attention of Parliament,

     having regard to Article 228 TFEU on the role and functions of the European Ombudsman,

     having regard to Article 44 of the Charter of Fundamental Rights of the European Union concerning the right to petition the European Parliament,

     having regard to the provisions of the TFEU relating to the infringement procedure and, in particular, to Articles 258 and 260 thereof,

     having regard to Rules 55 and 233(7) of its Rules of Procedure,

     having regard to the report of the Committee on Petitions (A10-0063/2025),

    A. whereas the purpose of the annual report on the outcome of the Committee on Petitions’ deliberations is to present an analysis of the petitions received in 2023 and of relations with other institutions, as well as to present an accurate picture of the objectives achieved in 2023;

    B. whereas in 2023, Parliament received 1 452 petitions, which represents an increase of 16.2 % compared to the 1 217 petitions submitted in 2022 and of 4.0 % compared to the 1 392 petitions registered in 2021; whereas the total amount of petitions received continues to be significantly lower than the peak reached in 2013 and 2014, when Parliament received 2 891 and 2 715 petitions, respectively;

    C. whereas in 2023, the number of users supporting one or more petitions on Parliament’s Petitions Web Portal was 26 331, which represents a considerable increase compared to the 22 441 users recorded in 2022 (both numbers are considerably lower than the 209 272 supporters recorded in 2021); whereas the number of clicks in support of petitions also increased slightly in 2023, reaching a total of 29 287 (compared with 27 927 in 2022 and 217 876 in 2021);

    D. whereas however, the overall number of petitions remains modest in relation to the total population of the EU, revealing that efforts still need to be stepped up to increase citizens’ awareness of their right to petition and the possible usefulness of petitions as a means of drawing the attention of the institutions and the Member States to matters that affect and concern citizens directly; whereas in exercising the right to petition, citizens expect the EU institutions to provide added value in finding a solution to their problems;

    E. whereas the criteria for the admissibility of petitions are laid down in Article 227 TFEU and Rule 232(1) of Parliament’s Rules of Procedure, which require that petitions must be submitted by an EU citizen or by a natural or legal person who is resident or has a registered office in a Member State and is directly affected by matters falling within the EU’s fields of activity;

    F. whereas of the 1 452 petitions submitted in 2023, 429 were declared inadmissible and 13 were withdrawn; whereas the high percentage (29.55 %) of inadmissible petitions in 2023 confirms that there is still a widespread lack of clarity about the scope of the EU’s areas of responsibility; whereas in order to reduce the number of inadmissible petitions, efforts still need to be made to clarify further the scope of the EU’s fields of activity;

    G. whereas the right to petition Parliament is a fundamental right of EU citizens, offering both citizens and residents an open, democratic and transparent mechanism to address their elected representatives directly; whereas this essential tool empowers citizens to actively and effectively participate in the life of the Union; whereas through petitions, EU citizens can complain about failures to implement EU law and help detect breaches of EU law;

    H. whereas Parliament is the only EU institution directly elected by EU citizens; whereas the right to petition the European Parliament is one of the fundamental rights of EU citizens and residents and it allows them to address their elected representatives directly; whereas Parliament has long been at the forefront of the development of the petitions process internationally and has the most open, democratic and transparent petitions process in Europe, allowing petitioners to participate actively and effectively in its activities, whereas in exercising the right to petitions, citizens expect the EU institutions provide added value, cooperating with the Commission and Member State authorities, in solving their problems;

    I. whereas the information submitted by petitioners in their petitions and during committee meetings, along with the Commission’s assessments and the replies from the Member States and other bodies, also provide valuable input for the work of other parliamentary committees, given that admissible petitions are forwarded to the relevant committee for an opinion or for information; whereas, therefore, petitions can also play a role in the legislative process, providing concrete feedback on the impact of EU policies and enabling policies to address emerging needs;

    J. whereas the activities of the Committee on Petitions are based on the input provided by petitioners, enabling Parliament to enhance its responsiveness to complaints and concerns relating to respect for fundamental EU rights and compliance with EU legislation in the Member States; whereas petitions are therefore a useful source of information on instances of misapplication or breaches of EU law, enabling an assessment of the application of EU law and its impact on the rights of EU citizens and residents; whereas in 2023 fundamental rights were one of the three most important concerns of all petitioners; whereas, in the context of the structured dialogue with the Commission, the Committee on Petitions called on the Commission to fight discrimination in the European Union, including through initiatives to guarantee equal rights and to strengthen measures against all forms of discrimination, including those based on sex, racial or ethnic origin, disability, age, religion or belief and sexual orientation;

    K. whereas according to Article 17 TEU the Commission should ensure the correct application of the Treaties and of measures adopted pursuant to them; whereas the Commission’s strategic approach to addressing issues raised in petitions must be fully consistent with the Treaties in order to ensure the most effective follow-up of petitions, aiming at guaranteeing full and timely protection of citizens’ rights arising from EU law;

    L. whereas each petition must be considered and examined carefully, efficiently, impartially, fairly and transparently, in line with the standards set in Article 41 of the Charter of Fundamental Rights of the European Union on the Right to good administration; whereas all petitioners have the right to receive a reply informing them about the decision on admissibility and follow-up actions taken by the committee within a reasonable period of time, in their own language or in the language used in the petition; whereas timely and effective responses by the Commission and Member States to the issues raised in the petitions, along with solutions for redress, where appropriate, contribute to strengthening the trust citizens place in the Union and its policies;

    M. whereas the Committee on Petitions attaches the utmost importance to the examination and public discussion of petitions at its meetings; whereas petitioners have the right to present their petitions and frequently take the floor in the discussion, thereby actively contributing to the work of the committee; whereas in 2023, the Committee on Petitions held 10 committee meetings, at which 191 petitions were discussed with 114 petitioners present and actively participating by taking the floor;

    N. whereas the main subjects of concern raised in petitions submitted in 2023 related to the environment, fundamental rights, personal matters and justice;

    O.  whereas when adopting its meeting agenda, the Committee on Petitions pays attention to petitions and topics with a high degree of relevance for discussion at EU level and to the need to maintain a balanced geographical coverage of topics according to the petitions received;

    P. whereas 82.4 % of the petitions received in 2023 were submitted via Parliament’s Petitions Web Portal, which is a slight increase compared to 2022 (79.05 %), thus reconfirming it as by far the most used channel for citizens to submit petitions to Parliament;

    Q. whereas in February 2023, the Petitions Web Portal was revamped and relaunched to align it with current expectations and make it easier for residents of the Member States to exercise their right to submit petitions to Parliament; whereas the updated Petitions Portal 2.0 integrated seamlessly with Parliament’s web publishing tool, enabling faster and simpler content updates and new features (including seven ‘Quick Start Guides’ that provide clear, step-by-step instructions for submitting, tracking and supporting petitions); whereas a new search engine powered by elastic search technology enhanced the user experience by delivering more accurate results efficiently leading to the new portal’s prioritising a truly citizen-centred approach; whereas during 2023 all petitions were prepared and published in a timely manner, within a few days of their adoption, and all internal and external requests for support on the use and content of the Petitions Portal were replied to successfully, in a timely manner and in all languages;

    R. Whereas in 2023, the Committee on Petitions (PETI) held four fact-finding visits, during which Members travelled to Romania to examine the management and the protection of the brown bear population and illegal logging, to Donegal (Ireland) to investigate the use of defective mica blocks in construction in Ireland and to Catalonia (Spain) to assess in situ the language immersion model in Catalonia; whereas PETI members were also part of a joint delegation from the Committee on Employment and Social Affairs, the Committee on Civil Liberties, Justice and Home Affairs and PETI that travelled to New York to attend the 16th session of the Conference of States Parties to the Convention on the Rights of Persons with Disabilities (CRPD COSP);

    S. whereas under Parliament’s Rules of Procedure, the Committee on Petitions is also responsible for relations with the European Ombudsman, who investigates complaints about maladministration within the institutions and bodies of the EU; whereas the previous European Ombudsman, Emily O’Reilly, presented her annual report for 2022 to the Committee on Petitions at its meeting of 27 June 2023;

    T. whereas the Committee on Petitions is a member of the European Network of Ombudsmen, which also includes the European Ombudsman, national and regional ombudsmen and similar bodies in the Member States, the candidate countries and other European Economic Area countries, and which aims to promote the exchange of information about EU law and policy, and to share best practice;

    1. Emphasises Committee on Petition’s fundamental role in protecting and promoting the rights of EU citizens and residents by ensuring that petitioners’ concerns and complaints are examined in a timely, effective and appropriate manner and that petitioners are informed about the actions taken and progress made on their petitions; recalls that all petitions are treated through an open, democratic and transparent petition process;

    2. Welcomes the successful contribution the Committee on Petitions made to dealing with the case of the repatriation of children, together with their mothers, who were detained for years in dire conditions in Syrian refugee camps and suffering from serious illness, malnutrition, severe psychological pressure and whose health conditions were worsening day by day; appreciates that the main legal arguments supported unanimously in PETI were substantially backed by the Danish Supreme Court in its order to offer repatriation and support by the Danish foreign ministry to both the children concerned and their mothers;

    3. Reiterates the importance of a continuous public debate on the EU’s fields of activity in order to ensure that citizens are properly informed about the scope of the Union’s competences and the different levels of decision-making; calls for an EU-wide enhanced structured information and communication campaign in all EU official languages in collaboration with national and regional ombudsmen, NGOs, and educational institutions to increase awareness of petition rights among citizens from all Member States, particularly addressing rural and disadvantaged communities and marginalised groups, as well as, remote islands and regions; proposes an expansion of outreach efforts through social media and local community events, emphasises the need for broader awareness-raising campaigns, through the active involvement of communications services, to help increase citizens’ knowledge about their right to petition, as well as the scope of the EU’s responsibilities and the competences of the Committee on Petitions, with a view to reducing the number of inadmissible petitions and enhancing citizen engagement in the decision-making process; recommends improving the digital accessibility of the Petitions Portal, including through adaptations for people with disabilities and higher quality translations into all official EU languages; recommends exploring the potential of the existing IT tools in order to increase citizens’ support on the portal, including through redirecting options to relevant complaint mechanisms;

    4. Recalls the European dimension of the Committee on Petitions, which can be addressed by citizens from all 27 Member States on issues that fall within the scope of the EU Treaties and EU law; believes that the Committee has a special responsibility to uphold this European dimension and to demonstrate the added value of European unity and integration to citizens;

    5. Points out that petitions constitute a unique opportunity for Parliament and the other EU institutions to directly connect with EU citizens and maintain a regular dialogue with them, particularly in cases where they are affected by the misapplication or breach of EU law; stresses the need for enhanced cooperation between the EU institutions and national, regional and local authorities on inquiries regarding the implementation of, and compliance with, EU law; believes that such cooperation is crucial to address and resolve citizens’ concerns over the application of EU law and that it contributes to strengthening the democratic legitimacy and accountability of the Union; calls, therefore, for the participation of Member States’ representatives in committee meetings and for timely and detailed responses to requests for clarification or information sent by the Committee on Petitions to national authorities;

    6. Recalls that petitions contribute considerably to the exercise of the Commission’s role as the guardian of the Treaties by providing citizens with an additional tool to report alleged breaches of EU law; stresses that constructive cooperation between the Committee on Petitions and the Commission through timely and detailed answers from the Commission, which are based on thorough examinations of the issues raised in petitions, is essential to ensure the successful treatment of petitions;

    7. Reiterates its call on the Commission to provide legal clarifications on the key criteria underpinning its strategic approach to enforcing EU law and to regularly update the Committee on Petitions on developments in infringement proceedings and to ensure that the Committee on Petitions gets access to the all relevant documents on EU Pilot and infringement procedures and legislative initiatives that were launched based on petitions received; is of the opinion that increased transparency and regular feedback on the handling of ongoing infringement procedures by the Commission would be beneficial for the Committee’s follow-up of open petitions; welcomes the recent Commission initiative to include petitions in the search system of the infringement register of the Commission; stresses that it is important for the Commission to conduct timely investigations into petitions, highlighting violations of rights affecting a large number of citizens and residents within the EU and to consult, where appropriate, the relevant national ombudsman; expresses its concerns about the way the Commission is handling some infringement procedures launched against Member States, including those related to issues raised in many petitions; encourages the Commission to put in place all necessary measures to improve transparency and effectiveness of its management of infringement procedures, which can be perceived as opaque by citizens;

    8. Calls on the Commission to assess whether the national authorities are taking the necessary measures to respond to citizens’ concerns, as expressed in their petitions, where cases of failure to comply with EU law occur, and to launch infringement procedures where necessary; emphasises that timely and proactive action by the Commission in cases of breaches of EU law is crucial to prevent such breaches, which could undermine citizens’ trust in European institutions, becoming systemic in nature;

    9. Emphasises the need for enhanced and more active cooperation between Member States and the Committee on petitions in order to unblock those petitions requiring prompt responses and reactions from the national authorities; recalls that the delayed responses of the Member States could have an impact on the timely resolution of issues raised by citizens and negative consequences for the solution of breaches of Union law; notes that the Member States should guarantee responses to petitions within the three-month deadline requested; stresses that improved coordination and dialogue would facilitate a more efficient handling of citizens’ concerns, prevent unnecessary delays and strengthen the effectiveness of the petition process;

    10. Strongly condemns the harassment and intimidation to which the official members of the Delegation of the Committee on Petitions were subjected during their fact-finding visit to Barcelona from 18 to 20 December 2023, with the aim of assessing in situ the language immersion model in Catalonia, its effects on families moving to and residing in the Autonomous Community, as well as on multilingualism and non-discrimination and the principle of the rule of law;

    11. Condemns the attempted ‘escraches’ (public shaming through doorstep demonstrations), violence and intimidation by separatist entities and groups in Catalonia that were intended to prevent the smooth running of the mission and with which they sought to coerce MEPs so that the outcome of the mission would favour their interests;

    12. Regrets that the competent education authorities in the region have not implemented the recommendations issued by the Committee on Petitions in its report of 19 March 2024 following the mission, aimed at protecting the linguistic rights of students and their families;

    13. Recalls that the e-Petition database is an essential internal tool that allows the members of the Committee on Petitions to access all necessary information in order to follow up on the state of play of each petition and to be able to make informed decisions on the treatment of the petitions; notes that the e-Petition database also plays an important role in communication with petitioners;

    14. Recalls the Commission’s commitment to create an interinstitutional IT tool, together with Parliament, with which to share information and documents on all follow-up actions taken on petitions, such as infringement procedures, legislative proposals or replies by national authorities, thus enhancing the transparency and efficiency of the treatment of petitions, which, in a wider context, would contribute to increasing citizens’ trust in the EU institutions and the European project;

    15. Recalls that cooperation with other committees in Parliament is essential for the comprehensive treatment of petitions; notes that in 2023, 34 requests for opinion (corresponding to 31 petitions) and 223 requests for information were sent to other committees; notes that of the 34 opinions requested, only 25 answers were received by the end of 2023 (in 14 cases an opinion was provided, while in 10 cases the committee decided not to draft an opinion and on four occasions no official decision has been communicated); recalls that petitioners are informed of decisions to request opinions from other committees for the treatment of their petitions; underlines that parliamentary committees should step up their efforts to actively contribute to the examination of petitions by providing their expertise so as to enable Parliament to respond more swiftly and comprehensively to citizens’ concerns;

    16. Believes that the petitions network is a useful tool for facilitating the follow-up of petitions in parliamentary and legislative work; trusts that regular meetings of the petitions network are crucial in order to ensure more visibility for the Committee on Petition’s activities and a better understanding of its work and mission, as well as to strengthen cooperation with the other parliamentary committees;

    17. Underlines that the Committee on Petitions expressed its position on important issues raised in petitions by adopting its report on the outcome of the Committee on Petitions’ deliberations during 2022[1];

    18. Highlights a slight decrease in the number of petitions submitted on external relations issues compared to 2022; notes that this could be explained by the new geopolitical context in 2023 and in particular a decrease in the number of petitions on the war in Ukraine and a significant increase in petitions dealing with the new conflicts in the Middle East; notes that the Committee on Petitions took account of citizens’ concerns about sanctions, security, conflict resolution, visa policy, progress of EU candidate countries, among other issues, putting on its agenda a number of petitions dealing in particular with questions related to the situation of refugees, in particular of children and on the situation of Venezuelan refugees in the EU; acknowledges the efforts of the committees already actively addressing these issues and emphasises that the Committee on Foreign Affairs and the Committee on Civil Liberties, Justice, and Home Affairs should take note of these petitions in their deliberations;

    19. Takes note that health, which was one of the main areas of concern for petitioners in 2022, appeared to continue to play an important role in 2023; notes, in particular, that the Committee on Petitions examined and discussed petitions on the ban on chemicals and heavy metals in children’s toys, on support for healthy and environmentally friendly food systems and lifestyles and on the implementation of EU regulations on added sugars in foods intended for infants and young children;

    20. Draws attention to the significant number of petitions submitted and discussed in relation to citizens’ concerns over the reintroduction of border checks between some Member States raising the problematic aspect of limitation of the free movement of persons within the EU and other aspects such as the strengths and the weaknesses of the extension of the Schengen area, as well as the costs of not belonging to the Schengen area; appreciates the significant role played by the Committee on Petitions, in particular the host of activities carried out, the adoption in committee of a short motion for a resolution on the accession to the Schengen area on 27 June 2023 and the related Parliament resolution, to strongly support the enlargement of the Schengen area to include Romania and Bulgaria the organisation of the public hearing on Schengen Borders on 18 July 2023 in association with the Committee on Civil Liberties, Justice and Home Affairs; welcomes the unanimous decision by the Council for the full membership of both countries of the Schengen area as of 1 January 2025 allowing the full exercise of the fundamental freedoms of the EU Single Market; 

    21. Takes note of the sudden increase in petitions of Spanish origin in the second half of 2023 concerning the risks to the rule of law in Spain as a result of the Spanish Government’s intention to adopt an Amnesty Law contrary to constitutional and European law;

    22. Underlines the work of the Committee on Petitions in connection with petitions relating to common rules on a single standard for hand luggage dimensions, highlighting citizens’ concerns about the inconvenience and discomfort caused by inconsistent rules on airline carry-on luggage and the resulting hidden costs; emphasises its call for compliance with a relevant European Court of Justice ruling in the context of the revision of EU air services legislation; points, in this regard, to the short motion for a resolution on standardised dimensions for carry-on luggage adopted by the Committee on Petitions on 20 September 2023 followed by the adoption of a resolution by single vote of the European Parliament on 4 October 2023; welcomes the fact that in November 2023 the Commission put forward a review of the passenger rights framework and a series of proposals designed to improve the experience of passengers and travellers, including the requirement of a limited number of common sizes and weights to reduce the confusion; notes with regret that passengers with disabilities are still facing too many barriers while travelling, especially in case of multimodal journeys; regrets that the public transport systems of many Member States do not comply with the requirements of United Nations Convention on the Rights for Persons with Disabilities (UNCRPD);

    23. Notes that environmental issues remained an area of serious concern for petitioners in 2023 with more than 21 % of petitions dedicated to environmental issues; regrets that some of these petitions allege incorrect implementation of EU legislation by the Member States, with some Member States already facing infringement procedures for the breach of EU environmental laws; notes that numerous petitions describe complaints about air quality, noise pollution, waste management/treatment, the deterioration of natural ecosystems and violation of the Habitats Directive in different Member States; highlights the public hearing on the state of implementation of the Habitats Directive organised on 24 May 2023; notes the work the Committee on Petitions continued to carry out in 2023 on the impact of climate change in different fields, not only in the environmental area, but also in the use of land, putting a number of petitions received on these topics on the agenda; points to the workshop on the impact of climate change on social security and the most vulnerable groups organised on 22 March 2023 and also to the presentation of the study on compensation for victims of climate change disasters on 18 July 2023;

    24. Draws attention to the workshop organised by the Committee on Petitions on 25 January 2023 on transparency of pricing and reimbursement of medicinal products, which discussed transparency from the perspectives of patients and consumers, producers of medicinal products, and academic research; notes that the discussions focused on research and development costs of companies and information available on the prices paid for medicines, underlining the importance of transparency on these issues;

    25. Stresses the importance of delivering on EU citizens’ expectations regarding the protection of the environment and urges the Commission, together with the Member States, to ensure the correct implementation of EU legislation in the environmental field, in particular in the field of illegal logging; points to the petitions on environmental issues, which reflect a growing public concern about the implications of climate change, requiring consistent enforcement of the existing EU environmental legislation by both the Commission and the Member States;

    26. Acknowledges the positive effects of the fact-finding visit to Romania from 15 to 18 May 2023 on the management and protection of the brown bear population; notes with regret, however, that there are still too many fatal accidents caused by brown bears in connection with humans and livestock, making further monitoring and cooperation with the national authorities necessary;

    27. Following the fact-finding visit to Romania, stresses the need for a balance between wildlife protection and the citizens’ safety; underlines that each Member State should be allowed to take measures, including population control of the species, in order to prevent threats to the lives and property of its citizens;

    28. Stresses the commitment of the Committee on Petitions to protect the rights of persons with disabilities; recalls the annual workshop of held by the Committee on Petitions on 29 November 2023 on the rights of persons with disabilities; recalls that its first part focused on how persons with disabilities dealt with the recent crises (energy costs, war, high inflation, etc.) and how EU measures helped to overcome these obstacles while the second part addressed the issue of how the European institutions have built inclusive communication with citizens with disabilities; also highlights, in this context, the adoption by the Committee of an opinion in the form of a letter on establishing the European Disability Card and the European Parking Card for persons with disabilities on 29 November 2023; reiterates that the Commission should address the cases where the national authorities refuse to recognise the rights for social security benefits for person with disabilities, thus leaving them without the necessary means to cover their basic needs; underlines as well in this context the imperative need for a full and consistent transposition of the European Accessibility Act and calls on the Member States to avoid further delays that hinder the rights of persons with disabilities; recalls that the Accessibility Act aims at improving the life of at least 87 million persons with disabilities, facilitating their access to, inter alia, public transport, banking services, computers, TVs, e-books and online shops;

    29. Stresses the important contribution made by the Committee on Petitions to the protection of the rights of persons with disabilities, as revealed by its treatment of a number of petitions on this sensitive topic; acknowledges, in this context, the efforts of Parliament’s services and notes that not just the best technical but the most accessible solution for deaf citizens must be found in order to communicate with them in their own mother tongue, in national sign languages; requests the modification of the Rules of Procedures in close cooperation with the Committee on Constitutional Affairs (AFCO) committee in order to eliminate the written communication with deaf citizens; also highlights, in this context, the adoption by the Committee of an opinion in the form of a letter on establishing the European Disability Card and the European Parking Card for persons with disabilities on 29 November 2023;

    30. Underlines, furthermore, the specific protection role played by the Committee on Petitions within the EU in the framework of the UN Convention on the Rights of Persons with Disabilities through its capacity to hear petitions and highlights the committee’s important ongoing work on petitions concerning disability-related issues; while noting a slight decrease in the number of petitions on disability in 2023 compared to 2022, stresses that the number nearly doubled compared to 2021; further points out that discrimination and access to public transport and employment, continue to be major challenges faced by persons with disabilities and emphasises the Committee’s special attention to the request for the European Disability Statute to recognise the rights of people with autism; welcomes the adoption of a short motion for a resolution on harmonising the rights of autistic people, emphasising the need to improve access to diagnosis, healthcare, education, employment, accessibility and provision of reasonable accommodation, legal capacity and lifelong community support including as regards culture and sport; draws attention, furthermore, to the particular role of the Committee on Petitions in safeguarding the rights of children and their parents, acknowledging numerous petitions received on children’s rights, which require special attention and action; recalls, in this context the provisions of the EU Charter of Fundamental Rights, in particular the Article 24 thereof on the rights of the child, to allow every child to maintain a personal relationship and direct contact with both of his/her parents, unless that is contrary to the child’s interests; reiterates as well the risk that families with autistic children are being targeted by offers of unproven, potentially harmful and illegal therapies and interventions which may amount to serious physical abuse of children;

    31. Recalls the fact that relations with the European Ombudsman represent one of the responsibilities conferred on the Committee on Petitions by Parliament’s Rules of Procedure; welcomes Parliament’s constructive cooperation with the European Ombudsman, with whom the Committee on Petitions shares the objectives of ensuring the transparency, professionalism and integrity of the EU institutions vis-à-vis European citizens, as well as its involvement in the European Network of Ombudsmen;

    32. Underlines the key work performed by the Committee on Petitions on the protection of workers’ rights; underlines that several petitions received in this area were followed up by further actions such as the debate on the use of fixed-term contracts, as well as that on the European citizens’ initiative-turned petition ‘Good Clothes, Fair Pay’ focusing on the harmful situation of workers in the global garment and footwear industry, or the Parliamentary Question for Oral Answer on the Working conditions of teachers in the European Union, also having as its basis a petition received on this subject; reiterates the importance of ensuring fair working conditions and greater protection of workers in the EU, calling on the Member States and the Commission to effectively address concerns raised in petitions related to labour rights and trade unions; 

    33. Recalls the European Parliament study on Homelessness in the EU which was commissioned by the Committee on Petitions and presented at its meeting in November 2023; notes that this study made an important contribution on this pressing social and economic challenge, which represents one of the most severe forms of societal exclusion, highlighting the need for a public policy change towards preventing homelessness in the first place, inter alia by providing secure and affordable housing;

    34. Acknowledges the European Ombudsman’s regular contributions to the work of the Committee on Petitions throughout the year; firmly believes that the Union’s institutions, bodies and agencies must ensure consistent and effective follow-up to the recommendations of the Ombudsman;

    35. Stresses that European citizens’ initiatives (ECIs) represent an important instrument for active citizenship and public participation; welcomes the discussion in some meetings of unsuccessful ECIs, which were sometimes subsequently reformulated as petitions, giving citizens the opportunity to present their ideas and hold a constructive debate, while contributing to their participation in the EU’s democratic processes; takes note of the significant number of new ECIs registered by the Commission in 2023, which shows that citizens are seizing the opportunity to use participatory instruments to have a say in policy and lawmaking processes; calls on the Commission to better engage with citizens and give adequate follow-up to successful ECIs; welcomes the important effort put in place to organise, in association with other committees, four public hearings on successful ECIs, which allowed the organisers to present the initiative’s objectives and engage with Members of the European Parliament and representatives of the European Commission; underlines that the Commission’s commitment to responding to valid ECIs is essential to maintaining citizens’ trust in the ECI as the most significant instrument of participatory democracy;

    36. Urges the Commission to give due consideration to the parliamentary resolutions adopted on European Citizens’ Initiatives (ECIs) and to enhance its engagement with citizens, particularly by ensuring appropriate and effective follow-up to successful ECIs, thereby reinforcing the democratic process and ensuring that citizens’ voices are adequately reflected in EU policymaking;

    37. Underlines that the Petitions Web Portal is an essential tool for ensuring a smooth, efficient and transparent petitions process; welcomes, in this regard, the improvements to data protection and security features that have made the portal more user-friendly and secure for citizens; stresses that efforts to make the portal more accessible must be continued, including making it more accessible for sign-language users and persons with disabilities; notes that the Petitions Web Portal has been one of the European Parliament’s most visited websites, thus serving as a first point of contact with Parliament for many EU citizens;

    38. Recalls the European dimension of the Committee on Petitions, which can be addressed by citizens from all 27 Member States on issues that fall within the scope of the Union’s activities; believes that the Committee has a special responsibility to uphold this European dimension and to demonstrate the added value of European unity and integration to citizens and continue addressing issues related to violations of EU law, as well as loopholes and shortcomings in the provisions of existing EU law; believes that timely avoidance of petitions with clear national competences along with comprehensive explanations and instructions about alternative courses of action, where appropriate, could contribute to a constructive approach and an enhanced citizens engagement considers, in this context, that the European Parliament should increase its efforts to promote the role and work of its Committee on Petitions and raise awareness among all EU citizens of the possibility to address a petition to the European Parliament; recalls that due to the limited time allotted to committee meetings, most petitions are treated through written procedure; recalls, in this context, that all petitions received, including those in the area of international affairs, should be handled with the necessary transparency and impartiality; is of the opinion that the selection of petitions for discussion in committee should reflect a geographical and political balance of submissions received; believes, moreover, that geographical balance should also be sought when organising the committee’s fact-finding visits, yearly and over the course of each legislative term;

    39. Welcomes the adoption of the short motion for a resolution on the creation of a European Capital of Local Trade[2] at the plenary session of January 2023; underlines that this achievement is an excellent result for the Committee on Petitions, noting that this project has been successfully included as a preparatory action in the 2024 budget, with a total budget of EUR 3 million; recalls that the project to create a European Capital of Small Retail (ECSR) was officially presented by the Commission in Barcelona in December 2023;

    40. Instructs its President to forward this resolution and the report of the Committee on Petitions to the Council, the Commission, the European Ombudsman, and the governments and parliaments of the Member States, their petitions committees and their national ombudsmen or similar competent bodies.

     

    EXPLANATORY STATEMENT

    Pursuant to Rule 233(7) of the Rules of Procedure of the European Parliament, the Committee on Petitions shall report annually on the outcome of its deliberations. The report aims to provide a comprehensive overview of the work carried out by the committee in 2023 and includes a statistical analysis of the petitions received and processed as well as a stocktaking of other parliamentary activities such as the adoption of reports and opinions, the organisation of hearings and the committee’s relations with other EU institutions. It is worth recalling that the core work of the Committee on Petitions generates from the right to petition the European Parliament exercised by EU citizens and residents under Article 227 TFEU and is not directly linked to the work programme of the Commission.

     

    In 2023, following the decision taken in 2022, all the measures put in place in the European Parliament in the context of the COVID-19 pandemic aiming at ensuring Parliament’s core functions were confirmed. All committee meetings in 2023 took place in Parliament’s premises, with the participation of MEPs, as well as of Commission’s representatives, in person. Petitioners have had the possibility to participate remotely or in person.

     

    Statistical analysis of petitions received in 2023 compared to 2022

     

    According to the statistics, the European Parliament received 1 452 petitions in 2023, which represents an increase by 16.0 % compared to the 1217 petitions submitted in 2022 and by 4.0 % compared to the 1392 petitions registered in 2021. The number of petitions on COVID-19 has significantly decreased compared to the two previous years: 12 petitions on 2023 compared to 45 petitions in 2022 and 242 petitions in 2021.

     

    Users of the Petitions Web Portal have the possibility to support petitions. In 2023, 26331 users acted as supporters as compared to 2022, 22441 and 209272 in 2021. It follows, that in 2023 the number of users supporting petitions in the web portal slightly increased in comparison with the previous year. The number of supports increased in 2023, reaching 29287 compared to 27927 in 2022 but incomparably lower compared to the 217876 in 2021;

     

    In 2023, 11 petitions were co-signed by more than one citizen. Of the 11 petitions signed by more than one citizen, only 1 was signed by more than 100 citizens; of those 11 petitions, only 1 was signed by more than 500 citizens and none by more than 5000 citizens;

     

    Format of petitions

    In 2023, 82.4 % of petitions were submitted via the Petitions Web Portal, while almost 17.6 % of petitions were submitted by post. The figures in the two tables reveal that in 2023 the proportion of petitions submitted via the Petitions Web Portal slightly increased in comparison with 2022, the Petitions Web Portal remaining by far the most used channel for submitting citizens’ petitions to the European Parliament.

     

     

     

     

    2023

     

     

     

    2022

    Petition Format

    Number of petitions

    %

    Petition format

    Number of petitions

    %

     

     

    Petition Portal

     

    1186

    82.4

    Petitions Portal

    962

    79.05

    Letter

     

    254

    17.6

    Letter

    255

    20.95

    The following table shows the status of petitions from 2003 to 2023. It can be noted that in 2023, a very large majority (⅔) of petitions were closed within a year after being received and examined by the committee. As a result of the comparison with the data on the status of petitions included in the annual reports from 2010 to 2022, it can be concluded that a significantly majority of petitions are closed within a year after being received and examined. Except for the year 2023 and partially for year 2016, less than 11% of the petitions received each year since 2003 and very small percentages (from 0.2% to 1.5%) of petitions from 2004 to 2014 remain open. Most of these open petitions relate to environmental issues and ongoing infringement proceedings before the Court of Justice of the European Union or to issues that members of the committee want to follow closely. An important number of petitions on the beach concessions in Italy (in total 450) have been submitted from 2012 to 2023, with a high number in 2016 and 2023 and are still open with a relevant impact on the statistics.

    Status of petitions

     

    Year

     

    Number of petitions

     

    Open petitions

     

     

    Closed petitions

    2023

    1 452

    334

    23.2%

    1 106

    76.8%

    2022

    1 210

    142

    11.7%

    1 068

    88.3%

    2021

    1 388

    154

    11.1%

    1 234

    88.9%

    2020

    1 570

    141

    9.0%

    1 429

    91.0%

    2019

    1 355

    113

    8.3%

    1 242

    91.7%

    2018

    1 219

    110

    9.0%

    1 109

    91.0%

    2017

    1 270

    57

    4.5%

    1 213

    95.5%

    2016

    1 568

    249

    15.9%

    1 319

    84.1%

    2015

    1 431

    64

    4.5%

    1 367

    95.5%

    2014

    2 715

    38

    1.4%

    2 677

    98.6%

    2013

    2 891

    33

    1.1%

    2 858

    98.9%

    2012

    1 986

    26

    1.3%

    1 960

    98.7%

    2011

    1 414

    14

    1.0%

    1 400

    99.0%

    2010

    1 656

    14

    0.8%

    1 642

    99.2%

    2009

    1 924

    5

    0.3%

    1 919

    99.7%

    2008

    1 886

    12

    0.6%

    1 874

    99.4%

    2007

    1 506

    15

    1.0%

    1 491

    99.0%

    2006

    1 021

    2

    0.2%

    1 019

    99.8%

    2005

    1 016

    2

    0.2%

    1 014

    99.8%

    2004

    1 002

    2

    0.2%

    1 000

    99.8%

    2003

    1 315

    0

    0.0%

    1 315

    100.0%

     

    Outcome of petitions[3]

     

    2023

     

     

     

    2022

    Outcome of petitions

    Number

    %

    Outcome of petitions

    Number

    %

     

     

    Admissible and Closed

    677

    46.65

    Admissible and Closed

    527

    43.48

    Admissible and Open

    334

    23.00

    Admissible and Open

    327

    26.98

    Inadmissible

    429

    29.55

    Inadmissible

    357

    29.46

    Withdrawn

    13

    0.8

    Withdrawn

    5

    0.08

    Sent to EC for opinion

    572

    55.21

    Sent to EC for opinion

    482

    37.57

    Sent for opinion to other bodies

    12

    1.16

    Sent for opinion to other bodies

    12

    0.94

    Sent for information to other bodies

    452

    43.63

    Sent for information to other bodies

    789

    61.5

     

    The tables show that the petitions declared inadmissible in 2023 vs 2022 is significantly higher in terms of number but as percentage, the petitions declared inadmissible in 2023 remained stable as compared to 2022.

    The percentage of admissible petitions (46.65%), which were closed immediately by providing information to the petitioner in 2023, is slightly higher as compared to 2022. The percentage of petitions that have been kept open in 2023 (23.00%) have slightly decreased compared to 2022 (26.98%).

    It is also to be noted that in 2023, more than the half (55.21 %) of the admissible petitions were sent to the Commission for opinion.

    Finally, the percentage of petitions sent to other bodies for opinion remained the same in 2023 as compared to 2022.

    Number of petitions by country

    The following two tables illustrate in numbers and in percentage terms changes of petitions by country from 2022 to 2023. A large number of petitions submitted in both years concern the EU. It means that these petitions either raise EU-wide issues or call for common measures to be implemented throughout the EU. Petitions concerning the EU may also relate to one or more Member States and are therefore registered under both the EU and the concerned Member State(s). This explains why the sum of the petitions concerning the EU and of those only related to Member States exceeds the total number of petitions submitted in 2022 and 2023.

    Additionally, it is worth stressing that the six countries mostly concerned by petitions remained the same in both years although the order of the most concerned countries has changed in 2023 compared to 2022, (Italy in 2023 takes the second seat occupied by Germany in 2022 and Greece takes the sixth seat in 2023 occupied by Poland in 2022). The majority of petitions submitted in 2023 concern Spain, with a relevant increase in terms of numbers in comparison with 2022. It is interesting to note the very significant increase in the number of petitions concerning Italy (from 101 to 202) and Portugal (from 17 to 38), and an opposite flow of the number of petitions related to Greece, with a decrease from 71 to 53. A relevant aspect to underline is that the number of petitions related to France, increased (from 39 to 53) in comparison with 2022.

    By contrast, petitions concerning non-EU countries decreased significantly in 2023 compared to petitions submitted in 2022 (from 226 to 176).

    As regards the countries featuring at the bottom of the list, Slovakia, Cyprus and Luxembourg, are the least concerned countries in 2023, while in 2022 it was the case for Czechia, Estonia and Slovakia.

     

     

    2023

     

     

     

     

    2022

     

    Concerned Country

    Petitions

    %

     

    Concerned Country

    Petitions

    %

    European Union

    660

    45.8

     

    European Union

    566

    46.7

    Spain

    267

    18.5

     

    Spain

    199

    16.4

    Italy

    202

    14.0

     

    Germany

    139

    11.5

    Germany

    120

    8.3

     

    Italy

    101

    8.3

    Romania

    65

    4.5

     

    Greece

    71

    5.9

    France

    53

    3.7

     

    Romania

    59

    4.9

    Greece

    53

    3.7

     

    Poland

    54

    4.5

    Poland

    53

    3.7

     

    France

    39

    3.2

    Portugal

    38

    2.6

     

    Hungary

    20

    1.7

    Hungary

    24

    1.7

     

    Ireland

    19

    1.6

    Other EU countries

    193

    13.3

     

    Other EU countries

    143

    11.9

    Non-EU countries

    176

    12.2

     

    Non-EU countries

    226

    18.6

     

    Languages of petitions

    In 2023 and in 2022, petitions were submitted in 22 of the official languages of the European Union. English and Spanish were the most used languages in both 2022 and 2023, with Spanish re-confirmed as the second most used language, after English. Italian gained a position and became the third most used language in 2023, to the detriment of German which is the fourth in 2023. The tables illustrate that English continued to account for more than ¼ of the total of petitions submitted and that English, Spanish, Italian and German languages account for more than ¾ of the petitions received in 2023 and 2022 (77.5% and 76.2% respectively). Slovak, Estonian and Croatian were the least used languages in 2023 while in 2022 it was the case of Slovenian, Czech and Croatian.

     

     

     

     

    2023

     

     

     

    2022

     

    Petition Language

    Number of petitions

    %

     

    Petition Language

    Number of petitions

    %

    English

    382

    26.5

     

    English

    325

    26.7

    Spanish

    301

    20.9

     

    Spanish

    251

    20.6

    Italian

    224

    15.6

     

    German

    215

    17.6

    German

    209

    14.5

     

    Italian

    138

    11.3

    French

    74

    5.1

     

    French

    58

    4.8

    Polish

    49

    3.4

     

    Polish

    56

    4.6

    Greek

    47

    3.3

     

    Greek

    43

    3.5

    Romanian

    44

    3.1

     

    Romanian

    42

    3.5

    Others

    110

    7.6

     

    Others

    89

    7.3

    Total

    1440

    100

     

    Total

    1217

    100

     

    Nationality of petitioners

    As regards nationality, while petitions submitted by Spanish citizens represented the highest number in 2023 confirming not only the first place of the 2022 but also registering an important increase (from 266 to 330), Italian citizens exceeded German petitioners and became the second nationality in submitting petitions in 2023 with a significant increase (from 159 to 254).

     

    In addition, the tables below show a slight rise in the number of petitions submitted by Portuguese nationals in 2023 in comparison with the previous year. By contrast, the number of petitions by Hungarian citizens sensibly decreased in 2023, from 33 submitted in 2022 to 21 in 2023.

     

    Two additional observations: in 2023, the number of petitions submitted by other EU nationalities increased significantly compared to 2022, from 170 to 209, and petitions submitted by non-EU nationalities slightly decreased, accounting for 3% of the total.

     

     

    2023

     

     

     

    2022

     

    Prime petitioner nationality

    Number of petitions

    %

     

    Prime petitioner nationality

    Number of petitions

    %

    Spain

    330

    22.9

     

    Spain

    266

    21.9

    Italy

    254

    17.6

     

    Germany

    251

    20.7

    Germany

    246

    17.1

     

    Italy

    159

    13.1

    Romania

    93

    6.5

     

    Romania

    78

    6.4

    France

    71

    4.9

     

    Poland

    73

    6.0

    Poland

    64

    4.4

     

    France

    60

    5.0

    Greece

    62

    4.3

     

    Greece

    60

    5.0

    Portugal

    39

    2.7

     

    Hungary

    33

    2.7

    Belgium

    29

    2.0

     

    Portugal

    26

    2.1

    Other EU nationalities

     

    209

     

    14.6

     

    Other EU nationalities

     

     

    170

     

    13.9

    Non-EU nationalities

    43

    3.0

     

    Non-EU nationalities

    49

    4.0

     

    Main subjects of petitions

     

    The tables below include the top ten petition themes. From the tables, it appears that the main themes did not differ from one year to another. While in 2022 environment, fundamental rights and justice were the top three petition themes, in 2023 environment, internal market as well as fundamental rights ranked the highest.

    In 2023 the number of petitions raising concerns over the internal market had a significant increase compared to 2022 (194 vs 84), which represent more than the double. This could be explained by the high number of petitions related to the beach concessions in Italy submitted in 2023.

    As regard petitions on health, their number in 2023 (119) remained stable compared to the 115 petitions registered under the same theme in 2022. In the field of the external relations, a slight decrease can be noted, explained by a decrease of the number of petitions on the Ukraine’s war and a significant increase of petitions dealing with the new conflict in the Middle East.

    As far as fundamental rights theme is concerned, the number of petitions on this topic is stable in 2023 compared to 2022. This might be due to the fact that in 2023, an important number of petitions (40) registered under the theme of fundamental rights raised concerns over the respect of the rule of law in Spain.

    2023

     

    2022

    Top 10 Petition themes

    Number of petitions

    %

    Environment

    308

    21.5

    Internal Market

    194

    13.4

    Fundamental Rights

    193

    13.4

    Personal Matter

    179

    12.4

    Justice

    167

    11.6

    Health

    119

    8.3

    External Relations

    96

    6.7

    Consumer’s Right

    93

    6.5

    Transport

    93

    6.5

    Constitutional Affairs

    68

    4.7

    Top 10 Petition themes

    Number of petitions

    %

    Environment

    258

    21.2

    Fundamental Rights

    211

    17.4

    Justice

    189

    15.6

    External Relations

    126

    10.4

    Personal Matter

    126

    10.4

    Health

    115

    9.5

    Employment

    73

    6.0

    Consumer’s right

    66

    5.4

    Institutions

    63

    5.2

    Energy

    61

    5.0

     

    Petitions Web Portal

    In 2023, the Petitions Web Portal, launched in late 2014, was further improved to make it more user-friendly, more secure and more accessible to petitioners.

    The Petitions Web Portal was revamped and relaunched in February 2023 to align with modern expectations and make it easier for EU27 residents to exercise their right to submit petitions to the European Parliament. The updated PETI Portal 2.0 integrated seamlessly with the EP’s web publishing tool, enabling faster and simpler content updates. Its responsive design ensured compatibility with all devices and screen sizes. New features included four ‘Quick Start Guides’ – available in all 24 EU official languages – that provide clear, step-by-step instructions for submitting, tracking and supporting petitions. Additionally, a new search engine powered by elastic search technology enhanced user experience by delivering more accurate results efficiently. The new portal prioritises a truly citizen-centred approach.

     

    In April 2023, the PETI Portal 2.0 was presented to an extended Steering Committee (comprising group advisers and DG IPOL Strategy and Innovation representatives). Updates on releases, petition statistics and a communication strategy to boost the portal’s visibility were also discussed. Moreover, the portal was actively promoted through various media channels, including Europarl, Twitter, the Director-General’s newsletter and events such as the Open Doors Day.

     

    The automatic notification system has been extended and improved to inform petitioners and supporters by email – if they have opted in – when a reply from the European Commission (“Communication to Members” or “CM”) has been published and translated into the petition’s original language and the other languages of the Committee.

     

    The PETI Portal team ensured that all petitions were published within days of their adoption and promptly responded to numerous petitioner queries – across all EU languages – received through the chatbot and Smart Helpdesk.

     

    Relations with the Commission

    The Commission remains the natural partner of the Committee on Petitions in processing petitions as the responsible EU institution for ensuring the implementation of and compliance with EU law. The committee and the Commission have a well-established and consistently maintained level of cooperation. The main contact point in the Commission is the Secretariat-General, which coordinates the distribution of petitions to the relevant Commission’s services and transmits the Commission’s replies to the secretariat of the committee. The Commission’s services participate in the meetings of the Committee of Petitions when petitions are discussed in committee on the basis of the Commission’s written reply or of other documents received. While the Commission has stepped up its efforts to provide timely responses to requests for information made by the Committee on Petitions, the committee believes that the Commission should be more actively involved in the work of the Committee on Petitions in order to ensure that petitioners receive a precise response to their requests and complaints regarding the implementation of EU law.

    Additionally, the committee reiterated its calls for regular updates on developments in infringement proceedings and EU pilot procedures, which relate to open petitions. Finally, the committee remains critical as regards the Commission’s new enforcement policy based on in its 2016 communication entitled ‘EU Law: Better Results through Better Application’ (C(2016)8600), which aims to direct citizens to the national level when complaints or petitions do not raise issues of wider principle or systematic failure to comply with EU law. In this regard, the committee considers that the Commission should check whether national authorities take the necessary steps to respond to citizens’ concerns as expressed in their petitions.

    Pursuing to the Annex IV of the Framework Agreement on relations between the European Parliament and the European Commission on the Timetable for the Commission’s Work Programme and as part of the annual cycle of the structured dialogue, the Committee on Petition welcomed the remote participation of Vice-President of the European Commission for Interinstitutional Relations and Foresight Maroš Šefčovič at its meeting on 28 February 2023. The exchanges of views focused on the state of implementation of the Commission Work Programme as well as on the cooperation between the Petitions Committee and the European Commission on improving relations in the handling of petitions.

    It is also worth noting the Commission’s intervention in the Committee on Petitions’ events throughout the year. In particular the intervention of representatives of the Commission during the presentation of the following studies: study on ‘The boundaries of the Commission’s discretionary powers when handling petitions and potential infringements of EU law’ (Implementation & Enforcement of EU Law) on 26 April 2023; study on “Cross-Border Legal Recognition of Parenthood in the EU” (DG JUST) on 17 July 2023; study on “Compensation for Victims of climate change disasters” (DG CLIMA) on 18 July 2023; study on “Homelessness in the European Union” (DG EMPL) on 30 November 2023.

    Representatives of the Commission also participated in several PETI hearings in 2023: public hearing on “The impact of climate change on social security and the most vulnerable groups” organised on 22 March (DG EMPL), hearing on “The state of implementation of the Habitats Directive” on 24 May 2023 (DG ENV.E – implementation and relations with Member States) with a focus on the infringement actions brought in the context of the Habitat Directive; hearing in association with Committee on Liberties, Justice and Home Affairs on “Schengen Borders – issues raised by petitioners” (DG HOME – Unit of Schengen and External Borders) with a focus on “Historical overview: establishment of the Schengen agreement, its progressive extension and the transfer of the Schengen acquis to the EU competence” on 18 July 2023; hearing on “A reflection on the European Parliament’s Committee on Petitions and the petitions’ systems of third countries” on 24 October 2023.

    Finally, on 29 November 2023, in the annual workshop on the rights of persons with disabilities focusing on “Coping with the cost-of-living crisis and Inclusive communication”, Helena DALLI, the former European Commissioner for Equality intervened via a recorded video statement followed by representatives of DG Communication.

    ECI

    The European Citizens’ Initiative (ECI) is a European Union (EU) mechanism aimed at increasing direct democracy by enabling “EU citizens to participate directly in the development of EU policies”. The initiative enables one million citizens of the European Union, who are nationals of at least seven member states, to call directly on the European Commission to propose a legal act in an area where the member states have conferred powers onto the EU level. If at the end of the procedure, the ECI initiative reaches the threshold, organisers are invited to a hearing organised by the committee for petitions, to present their initiative, and afterwards, Parliament may decide to debate further and adopt a resolution on plenary on the topic.

     

    On 24 January 2023, the Committee on Agriculture and Rural Development (AGRI) jointly with the Committee on Environment, Public Health and Food Safety (ENVI) and with the association of the PETI Committee, held a public hearing on the European Citizens’ Initiative (ECI) “Save bees and farmers! Towards a bee-friendly agriculture for a healthy environment”. The initiative requests the phasing out of synthetic pesticides by 2035, a broader support to farmers and the development of the agriculture by prioritising small scale, diverse and sustainable farming, supporting a rapid increase in agro-ecological and organic practice, and enabling independent farmer-based training and research into pesticide. The former Commissioner for the Environment, Oceans and Fisheries Virginijus Sinkevicius and the former Commissioner for agriculture Janusz Wojiechowski presented their points of view on the different topics, showing the need for legislators to work together with all the stakeholder groups.

     

    On 27 March 2023, the Committee on Fisheries (PECH) organised, in association with the Committee on Petitions and the Committee on the Environment, Public Health and Food Safety (ENVI), a public hearing on the ECI “Stop Finning – Stop the Trade”. The initiative requests to the Commission to propose legal measures to end the trade of shark and ray fins in the EU, including the import, export and transit of fins, other than if naturally attached to the animal’s body, notably by extending the scope of Regulation (EU) No 605/2013. Former Commissioner for the Environment, Oceans and Fisheries Virginijus Sinkevicius intervened stressing that ECI raises important issues that are relevant to the EU’s policy of protecting the marine environment, protecting and conserving fisheries resources and ensuring sustainable fishing in the EU and globally.

     

    On 25 May 2023, Committee on Environment, Public Health and Food Safety (ENVI) organised in association with the Committee on Petitions and the Committee on Agriculture and Rural Development (AGRI), a public hearing on the ECI “Save cruelty-free cosmetics – Commit to a Europe without animal testing”. The initiative requests three main objectives: protect and strengthen the cosmetics animal testing ban, transform EU chemicals regulation, ensuring human health and the environment by managing chemicals without the addition of new animal testing requirements and modernise science in the EU.

     

    On 12 October 2023, the Committee on Agriculture and Rural Development (AGRI) and the Committee on the Internal Market and Consumer Protection (IMCO) organised, in association with the Committee on Petitions, a public hearing on the ECI “Fur-Free Europe”. The initiative calls on the EU to ban the rearing and killing of animals for the purpose of fur production. It also asked for a ban on the placing on the Union market of both fur from animals farmed for their fur, as well as products containing such fur. Former Commissioner for Health and Food safety Stella Kyriakides recalled that after a deep technical analysis, the Commission will eventually evaluate the necessity and justification of the bans requested by the ECI’ organisers in pursuing objectives of environmental and public health, of animal health and welfare objectives, in ensuring that consumer concerns can be addressed in practice, as well as in ensuring a smooth operation of the internal market.

     

    Article 230 of the Rules of Procedures of the European Parliament allows the Committee on Petitions, if it considers appropriate, to examine proposed citizens’ initiatives which have been registered in accordance with Article 4 of Regulation (EU) No 211/2011, but which cannot be submitted to the Commission in accordance with Article 9 of that Regulation, since not all the relevant procedures and conditions laid down have been complied with. On that basis, the Committee held on 27 April 2023 a debate on the European Citizens’ Initiative (ECI) “Ensuring Common Commercial Policy conformity with EU Treaties and compliance with international law” with the participation of the organisers and a representative of the Commission and members of the committee. The ECI representatives’ main objective was to invite the Commission to propose a legal acts based on the Common Commercial Policy to prevent EU legal entities from both importing products originating in illegal settlements in occupied territories and exporting to such territories, in order to preserve the integrity of the internal market and to not aid or assist the maintenance of such unlawful situations. Although the ECI ended without reaching the threshold of 1 million signatures, the Committee on Petitions could shed light on it and decide to send the petition to the Committee on International Trade for opinion and to ask the European Commission for an update on this topic.

     

    In accordance with the same article, the Committee held on 24 October 2023 a debate on the European Citizens’ Initiative (ECI) “Good Clothes, Fair Pay”, with the participation of the organisers and a representative of the Commission and members of the committee. The ECI representatives’ main objectives were to invite the Commission to propose legislation, requiring undertakings active in the garment and footwear sector to conduct due diligence in respect of living wages in their supply chain achieving the following objectives: (a) complement and build on the ‘EU’s Sustainable Corporate Governance framework’, and the ‘EU Adequate Minimum Wage Directive’; (b) require undertakings to identify, prevent and mitigate adverse impacts on the human right to a living wage and freedom of association and collective bargaining rights; (c) reduce poverty in the Union and worldwide, paying particular attention to the circumstances of women, migrants and workers with precarious contracts and the need to combat child labour; (d) prohibit unfair trading practices which cause, or contribute to, actual and potential harms to workers in the garment and footwear sector and promote fair purchasing practices; (e) provide a right to information for consumers regarding undertakings in the garment and footwear sector; (f) improve transparency and accountability of undertakings in the garment and footwear sector. Although the ECI ended without reaching the threshold of 1 million signatures, the Committee on Petitions could shed light on it and decide to send the petition to the Committee on Employment and Social Affairs for opinion and to ask the European Commission for an update on this topic.

     

    Relations with the Council

    Members of the Council’s Secretariat may attend the meetings of the Committee on Petitions. Regrettably, in 2023, the committee did not observe Council’s participation in the debates. Nevertheless, the committee notes the participation by some local or regional authorities in the discussion on petitions in committee meetings, which in 2023 concerned mainly Spanish-related topics. Also on 30 November 2023, the committee acknowledges the participation of the Head of the Diversity and Inclusion Office of the Council of the EU at the annual workshop on the rights of persons with disabilities.

     

    Relations with the European Ombudsman

    The Committee on Petitions continued its constructive, long-standing working relations with the office of the European Ombudsman, contributing to the increase of the democratic accountability of the EU institutions.

     

    On 27 June 2023, the committee heard the presentation of the European Ombudsman’s Annual Report 2022, delivered by Ms Emily O’Reilly. The report documented the Ombudsman’s work on transparency and accountability (e.g. access to information and documents), culture and service, respect of fundamental rights, the proper use of discretion (including in infringement procedures), recruitment, good management of personnel issues, respect of procedural rights, sound financial management, ethics and public participation in EU decision-making. In 2022, the Ombudsman opened 348 inquiries, of which four were on her own initiative, while closing 330 inquiries. The largest percentage of inquiries concerned the European Commission (57.1%), followed by the European Personnel Selection Office (6.3%), the European Parliament (5.5%) and the European External Action Service (4.6%). The remaining enquires concerned other EU institutions, agencies and bodies with the European Border and Coast Guard Agency (Frontex) totalling 4.3% and the European Union Aviation Safety Agency 2%.

     

    It is also worth noting the intervention by inquiries Officer in the Ombudsman’s Strategic Inquiries Team at the committee’s annual workshop on the rights of persons with disabilities which took place on 29 November 2023.

    Relations with the European Court of Auditors

    Over recent years, the Committee on Petitions has built constructive working relations with the European Court of Auditors (ECA) and has actively contributed to its annual work programmes.

    Relations with other EU bodies

    On 22 March 2023 in the frame of the workshop organised by the Committee on Petition on “The impact of climate change on social security and the most vulnerable groups’, the Head of Climate Change Impacts and Adaptation of the European Environment Agency spoke on “Social preparedness for current and future climate risks”.

    On 24 May 2023 in the frame of the workshop organised by the Committee on Petition on “The state of implementation of the Habitats Directive”, a nature and biodiversity expert at the European Environment Agency intervened in the session “How to promote full compliance by Member States of the Habitats Directive?”.

    On 20 September 2023, the Committee on Petitions organised an Interparliamentary Committee Meeting with a focus on the Cooperation with the Committees on Petitions in national Parliaments – Exchanging best practices and reflecting on new approaches and in the Panel 1 on “The right to petitions, Parliaments rules, procedures and practices” several Members of National Parliaments took the floor, in particular a Member of Spanish Senate, a member of Belgian Federal Parliament. In the second Panel titled “Best Practices And New Approaches To The Right To Petition National Parliaments’ Point Of View” some National Members intervened, among others, one Member of Italian Chamber, one Member of German Bundestag, one member of the French Senate and one Member of the Polish Sejm.

    On 24 October 2023, the Committee on Petitions organised a public hearing on “A reflection on the European Parliament’s Committee on Petitions and the petitions’ systems of third countries” and in this frame several Members of the extra EU National Parliaments intervened. In particular, two representatives of the House of Commons of Canada presented “An analysis of the legal, institutional and procedural framework governing the petitions’ system in Canada”, followed by a member of Federal Senate of Brazil who analysed ‘the legal, institutional and procedural framework governing the petitions’ system in Brazil’. In the second panel of the hearing, one member of the Norwegian Parliament analysed ‘The legal, institutional and procedural framework governing the petitions’ system in Norway”.

    On 29 November 2023, a representative of the Fundamental Rights Agency took the floor in the first panel of the annual workshop on the rights of persons with disabilities.

    Fact-finding visits

    In 2023, the Committee on Petitions organised four fact-finding visits.

     

    The committee organised a fact-finding visit to Romania (Bucharest, Sfântu Gheorghe and Suceava), from 15 to 18 May 2023, on the management and the protection of the brown bear population as raised in Petitions Nos 1188/2019, 1214/2019, 0685/2020, 0534/2021, 0410/2022 and the illegal logging in the country, petitions Nos. 1248/2019, 0408/2020, 0722/2020 and1056/2021. The aim of the mission was to collect as much information as possible on the two subjects of interest, to establish facts and to seek solutions. In this regard, the delegation met various interlocutors, such as national and regional authorities, petitioners, NGOs, environmental activists, as well as representatives of academia and. Following rich exchanges, Members acquired first-hand information and knowledge about the challenges related to the management and the protection of the brown bear population and to the illegal logging and the fight against it in Romania.

     

    From 13 June to 15 June 2023, two Members of the Committee on Petitions participated in a joint ad hoc EMPL, LIBE and PETI delegation to the 16th session of the Conference of States Parties to the Convention on the Rights of Persons with Disabilities (CRPD COSP), which took place at the United Nations Headquarters, New York. Members participating in the delegation took part in several official sessions of the Conference, side events (including one organised by the EP), as well as in a series of bilateral meetings with UN officials, European and non-European governmental and non-governmental organisations, working for the realisation of the rights of persons with disabilities. The main purpose of the delegation was to build on the well-established contacts of the previous year and to highlight and guarantee Parliament’s oversight in the implementation and monitoring of the UN CRPD, within the “Team Europe” cooperation.

     

    A fact-finding visit was organised to the region of Donegal (Ireland) from 30 October to 1 November 2023 on the use of defective mica blocks in construction in Ireland, an alleged non-compliance with the EU Construction Products Regulation (CPR) and on the protection of homeowners as raised on Petitions Nos. 0789/2021, 0790/2021, 0799/2021, 0800/2021, 0801/2021, 0813/2021, 0814/2021 and 0837/2021.During the mission, the delegation was made aware of the large scale and complexity of the challenges related to the use of defective building blocks in construction in Ireland, with significant health, financial and social consequences.

    Between 18 and 20 December 2023, the Committee on Petitions conducted a fact-finding visit to Catalonia (Spain) with the aim of assessing in situ the language immersion model in Catalonia, its impact on families moving to and residing in the region as well as on multilingualism and non-discrimination and the principle of the Rule of Law as raised on petitions Nos. 0858/2017, 0650/2022 and 0826/2022. The objective of this fact-finding visit was to investigate the claims made in the petitions, establish facts, seek solutions and establish a dialogue with regional authorities to obtain a better insight into various aspects concerning the language immersion model in Catalonia. The mission has enabled the Committee to gain a better understanding of the model’s impact on families moving to and residing in the region as well as on multilingualism, non-discrimination and compliance with international and EU law.

    Public Hearings

    In 2023, the Committee on Petitions organised four public hearings, partly jointly with other parliamentary committees. The public hearings covered a wide range of subject raised in petitions.

     

    On 28 February 2023, the Committee on Petitions hosted a public hearing on the “language immersion model in Catalonia, Spain”. The hearing was organised as follow up on several petitions (Nos. 0858/2017and 0650/2022) on the impact of full immersion in Catalan at schools and covered four main themes: the compatibility between European regulations and case law and the linguistic model in Catalonia, the impact of linguistic immersion in Catalonia on the school performance of students whose mother tongue is Spanish, the Catalan linguistic-cultural model and the linguistic immersion in Catalonia, respect for secular bilingualism in Catalonia and compatibility with the linguistic conjunction model.

     

    On 24 May 2023, the Committee on Petitions held, in association with the Committee on the Environment, Public Health and Food Safety, a public hearing entitled “The state of implementation of the Habitats Directive”. Following a significant number of petitions received alleging the breach of the Habitats Directive, the hearing aimed to take a closer look at how the Habitats Directive has being implemented and enforced in the Member States. It was organised in two sessions, and the experts invited, focused, in particular, on the following topics: implementation and infringement overview, implementation challenges and the infringement procedure as an efficient tool for the enforcement of the Habitats Directive. Furthermore, the speakers identified possible best practices to promote full compliance of Member States with the Habitats Directive.

     

    On 18 July 2023, the Committee on Petitions held, in association with the Committee on Civil Liberties, Justice and Home Affairs, a public hearing on: ‘Schengen Borders: – issues raised by petitioners’. On the basis of several petitions Nos. 0428/2020, 0653/2020, 0227/2022, 0719/2022, 0004/2023 and 0037/2023 the hearing aimed at giving voice to citizens’ concerns over the reintroduction of border checks between some Member States (e.g. Denmark and Sweden, Denmark and Germany), thus limiting the free movement of persons within the EU. It also touched upon other aspects such as the strengths and the weaknesses, the extension of the Schengen area, as well as the costs of Non-Schengen. The exchanges were organised in two panels, with the first focusing on the historical background and the current state of play of the Schengen area and the second on the issue of reintroduced border controls within the Schengen area. The Commission pointed out the ongoing dialogue with the Member States and the review of the Schengen Borders Code and stressed that the enlargement of the Schengen area remains a priority.

     

    On 24 October 2023, the Committee held the public hearing ‘A reflection on the EP Committee on Petitions and the petitions’ systems of third countries’. The hearing focused on the analysis and comparison of the EU petitions’ system and the petitions’ systems of selected non-European countries with shared democratic values, namely Canada, Brazil and Norway. The aim was to exchange best practices that could inspire the EU petitions’ system to become more efficient and closer to the citizens and to gather evidence on how citizens can bring forward their concerns through petitions. The experts analysed the legal, procedural and institutional framework governing the Canadian, Brazilian and Norwegian petitions’ systems, as well as the differences with the EU system concerning the submission, admissibility, examination and closure of petitions.

    Workshops

    In 2023, the Committee on Petitions organised three workshops covering subject-matters raised in petitions.

     

    On 25 January 2023, the Committee on Petitions held a workshop on “Transparency of pricing and reimbursement of medicinal products”. The workshop discussed transparency from the perspective of patients/consumers, producers of medicinal products, and academic research. The discussions focused on research and development costs of companies and information available on the actual prices paid for medicines. The exchanges concluded that without full transparency on these issues, any discussion on fair medicine prices and access to medicinal products remains highly difficult.

     

    On 22 March 2023, the Committee on Petitions hosted a workshop on “The impact of climate change on social security and the most vulnerable groups”. The workshop focused on the effects of climate change on vulnerable groups in society, such as the elderly, low-income families, and people with disabilities. It also looked into the role attribution science – an area of science that aims to determine which extreme weather events can be explained by or linked to climate change – can play in helping develop (social) policies for the future.

     

    On 29 November 2023, the Committee on Petitions held its “Annual Workshop on the Rights of Persons with Disabilities”, during the first European Parliament’s Disability Rights Week. The workshop focused on two themes: coping with the cost-of-living crisis and on inclusive communication. The first panel looked into the situation of persons with disabilities in the context of recent crises (COVID-19 pandemic, energy crisis and rising inflation) and discussed proposals for measures to overcome obstacles. The second panel debated the European institutions’ efforts to ensure effective communication with and about persons with disabilities, both internally and in their relations with citizens.

    Studies

    In 2023, the committee heard the presentations of the following studies commissioned by the Policy Department for Citizens’ Rights and Constitutional Affairs at its request:

    – Study on ‘FATCA legislation and its application at international and EU level: – An Update’ on 25 January 2023. Professor C. Garbarino described the most relevant developments in the period 2018-2022 in chronological order and drew conclusions, which include a systemic view of the institutional dynamics, a provisional legal analysis on the basis of existing rules and policy suggestions.

    – Study on “Environmental Crime affecting EU financial interest, the economic recovery and the EU’s green deal objectives”, presented by Prof. Dr Michael G. Faure (Professor of comparative and international environmental law at Maastricht University and Professor of comparative private law and economics at Erasmus School of Law in Rotterdam) and Dr. Kévine Kindji, (Research fellow at at the Maastricht European Institute for Transnational Legal Research (METRO) at Maastricht University) on 25 January 2023. The study suggested that despite commendable efforts, the transnational nature of environmental crime and its convergence with organised crime, money laundering and corruption, have not been adequately integrated into current reforms. It concluded that a proper categorization of environmental crime as a ‘serious crime’ was needed as an essential basis for policy reforms;

     

    – Study on ‘The boundaries of the Commission’s discretionary powers when handling petitions and potential infringements of EU law’, presented by Prof. Armin Cuyvers (Leiden University) on 26 April 2023. The study analysed the legal limits on the discretion of the Commission when deciding to launch, or not to launch, an infringement action, especially in response to a petition. In addition, it assessed how the Commission uses this discretion in practice, and formulates recommendations on improved political collaboration between the European Parliament and the Commission, in the interest of EU citizens;

     

    – Study on “Cross-Border Legal Recognition of Parenthood in the EU”, presented by Professor Alina Tryfonidou (Neapolis University) on 17 July 2023. It examined the problem of non-recognition of parenthood between Member States and its causes, the current legal framework and the (partial) solutions it offers to this problem, the background of the Commission proposal, and the text of the proposal. It also provides for a critical assessment of the proposal and issues policy recommendations for its improvement;

     

    – Study on “Compensation for Victims of climate change disasters”, presented by Professor Michael Faure (Maastricht University and Erasmus Universit), on 18 July 2023. The study outlined the dangers and effects of climate change in the EU, as well as the EU policies and mechanisms to deal with climate change disasters. It also analysed the types of compensation available to victims of climate change disasters in the EU and in a representative selection of Member States and formulated several policy recommendations;

     

    – Study on “Homelessness in the European Union” presented by Professor Eoin O’Sullivan, (Trinity College) on 30 November 2023. The study insisted on the need to change systems that respond to homelessness as an issue of individual dysfunction and inadequacy, to systems that actually end homelessness. Public policy should aim to prevent homelessness in the first instance. It highlighted that the duration of homelessness should be minimised by rapidly providing secure, affordable housing, in order to reduce further experiences of homelessness, decrease costly emergency accommodation, and alleviate trauma associated with homelessness.

     

    In addition, in the frame of the Annual Workshop on the Rights of Persons with Disabilities on 29 November 2023, the following study has been presented by Magdi Birtha (European Centre for Social Welfare Policy and Research):

    – Study on “Targeted measures for persons with disabilities to cope with the cost-of-living crisis”. The study analysed the impact of the ongoing cost-of-living and energy crises on the standard of living for persons with disabilities. Based on available evidence, it provided for an overview on legislation, policy measures and schemes that support persons with disabilities and their families to cope with the rising cost of living at EU level and in selected Member States.

    Key issues

    Internal Market

    It is worth noting the high increase in 2023 in the number of petitions on internal market issues. This rise is in large part due to a high number of petitions submitted on the situation of the beach concessions in Italy in particular on alleged non-compliance with Directive 2006/123/EC on liberalisation of services (‘Bolkestein Directive’). A second major topic is related to the citizens’ concerns over the reintroduction of border checks between some Member States (e.g. Denmark and Sweden, Denmark and Germany), thus limiting the free movement of persons within the EU and other aspects such as the strengths and the weaknesses, the extension of the Schengen area, as well as the costs of Non-Schengen in particular for Romania and Bulgaria.

    The Committee adopted a short motion of resolution on the Accession to the Schengen area on 27 June 2023 and organised a public hearing on Schengen Borders: – issues raised by petitioners on 18 July 2023.

    Fundamental Rights

    Still in 2023, the committee received a high number of petitions on fundamental rights, including alleged breaches of the General Data Protection Regulation in different EU countries and on the respect of the rule of law and democracy.

    In addition, the Committee continued to receive petitions on the violation of the human rights in several third countries and a series of petitions on the fundamental rights of LGBT-EU citizens.

    Other relevant topic concerned the homelessness in the EU, how to deal with this sensitive issue and a study has been presented on November 2023, insisting on the need to change systems that respond to homelessness as an issue of individual dysfunction and inadequacy, to systems that actually end homelessness, with a new role of the public sectors.

    Environmental issues

    In 2023, environmental issues remained high in citizens’ concerns and the committee paid paramount attention to them. The protection of the environment was discussed in almost all committee meetings, on the basis of petitions. Topics such as protection of wildlife and forest policy within the EU have been discussed as well as alleged breaches of the Habitats Directive in some Member States.

    The Committee exanimated also petitions on the protection of the quality of groundwater resources against chemical environmental pollution and on control of the air pollution and air quality safeguarding of the health of the population concerned.

    In addition, the committee held fact-finding visit to Romania (Bucharest, Sfântu Gheorghe and Suceava), in relation to several petitions that raised some issues as the management and the protection of the brown bear population and the illegal logging in the country.

    Other topics submitted to the attention of the PETI committee have concerned alleged breaches of EU environmental law and the new dimension of the climate change. In this frame, the Committee on Petitions held a workshop on the impact of climate change on social security and the most vulnerable groups on March 2023 and in its meeting of July 2023, a study on Compensation for victims of climate change disasters has been presented and discussed.

    The animal welfare became a relevant topic in 2023, with a series of petitions calling for a revision of the legislation on animal welfare and a specific legislation for the protection and management of companion, domestic and stray animals inside the EU. The Committee examined petitions against the cruel treatment of animals in different Member States and proposed to have a Commissioner specifically competent for the animal welfare issues.

    Disability issues

    The Committee on Petitions plays a specific protection role as regards compliance with the United Nations Convention on the Rights for Persons with Disabilities (UNCRPD) within the policymaking and legislative actions at EU level. Within this responsibility, the committee deals with petitions on disability issues. It is worth stressing that in 2023 the number of petitions on disability (22) slightly decreased in comparison with 2022 but almost doubled as compared to 2021 (28 in 2022 and 13 in 2021). In 2023, the committee continued examining petitions on disability revealing that the main challenges remain discrimination, access to education and employment as well as inclusion. Special attention was given by the committee to Petition No 0822/2022 asking for the European Disability Statute to contemplate the rights of people with autism followed by the approval of a short motion of resolution on the same topic, Petition No 0756/2019 on an EU-wide disability card, Petition No 1056/2016 requesting the European Parliament allow for the tabling of petitions in national sign languages used in the EU as well as Petition No 0569/2023 on the accessibility of public transport for wheelchair users in Belgium.

    From 13 June to 15 June 2023, the Committee on Petitions participated in a joint ad hoc EMPL, LIBE and PETI delegation to the 16th session of the Conference of States Parties to the Convention on the Rights of Persons with Disabilities (CRPD COSP), which took place at the United Nations Headquarters, New York. The main purpose of the delegation was to build on the well-established contacts of the previous year and to highlight and guarantee Parliament’s oversight in the implementation and monitoring of the UN CRPD, within the “Team Europe” cooperation. It gave the delegation the opportunity to exchange views and discussed how ensuring equal access to and accessibility of sexual and reproductive health services for persons with disabilities and improve their digital accessibility.

     

    Finally, on 29 November 2023, the Committee hosted the Annual Workshop on the Rights of Persons with Disabilities, focusing in the first part on ‘Coping with the cost-of-living crisis’. where the situation of persons with disabilities in the face of recent crises has been presented (the energy crisis following the Russian invasion of Ukraine, together with rising inflation) and some proposals for targeted measures to overcome obstacles have been discussed (EU funds, the European Social Fund Plus and temporary instruments, the Recovery and Resilience Funds (RRF)). In the second panel on ‘Inclusive communication’ the focus was on the efforts made by the European Institutions to ensure effective communication with and about persons with disabilities, both internally and in their relations with citizens.

    Reports, Motions for Resolutions and Opinions

    The Committee on Petitions worked intensely to adopt a considerable number of parliamentary files.

     

    In 2023, the Committee on Petitions adopted three own initiative reports as follows:

     

    – Report on the Activities of the European Ombudsman – Annual Report 2021” (2022/2141(INI)) PETI/9/10044 – Rapporteur: Anne Sophie Pelletier (GUE) – adopted on 28 February 2023;

    Report under Rule 227(7) on the Deliberations of the Committee on Petitions in 2022” (2023/2047(INI)) PETI/9/11741 – Rapporteur: Alex AGIUS SALIBA (S&D) – adopted on 24 October 2023;

    – Report on the Activities of the European Ombudsman – Annual Report 2022” (2023/2120(INI)) PETI/9/12602 – Rapporteur: Peter JAHR (EPP) – adopted on 29 November 2023;

     

    The Committee also adopted the following fact-finding visits mission reports:

     

    – Report of the fact-finding visit to Poland 19-21 September 2022 PETI/9/11016 – adopted on 22 March 2023;

    – Report of the fact-finding visit to Washington D.C. 18-22 July 2022 PETI/9/11015 adopted on 22 March 2023;

    – Report of fact-finding visit to Germany from 3 to 4 November 2022 on the functioning of the “Jugendamt” (Youth Welfare Office) PETI/9/11343 adopted on 26 April 2023;

    – Report of Fact-Finding Visit to Romania from 15 to 18 May 2023 on the management and the protection of the brown bear population and the illegal logging in Romania, as raised in Petitions Nos: 1188/2019, 1214/2019, 0685/2020, 0534/2021, 0410/2022 (the brown bear population), as well as 1248/2019, 0408/2020, 0722/2020, 1056/2021 (the illegal logging) PETI/9/13165 – adopted on 29 November 2023;

     

    In addition, the committee adopted the following Motions for Resolutions:

     

    – Short motion for resolution on the Accession to the Schengen area 2023/2668(RSP), PETI/9/11832 – Rapporteur: Dolors Montserrat (Chair) – adopted on 27 June 2023;

    – Short motion for resolution on Standardised dimensions for carry-on luggage 2023/2774(RSP) PETI/9/12441 – Rapporteur: Dolors Montserrat (Chair) – adopted on 20 September 2023;

    – Short motion for resolution on Harmonising the rights of autistic persons, 2023/2768 (RSP) PETI/9/12151 – Rapporteur: Dolors Montserrat (Chair) – adopted on 20 September 2023;

     

    In 2023, the Committee on Petitions also adopted two opinions, as follows:

     

    – Opinion in form of a letter on Monitoring the application of European Union Law 2020, 2021 and 2022, 2023/2080(INI) PETI/9/12224 – Rapporteur: Loránt Vincze (EPP) – adopted on 20 September 2023;

    – Opinion in form of a letter on Establishing the European Disability Card and the European Parking Card for persons with disabilities, 2023/0311(COD) PETI/9/13175 – Rapporteur: Dolors Montserrat (EPP) – adopted on 29 November 2023;

     

    Finally, the committee adopted the following texts:

     

    – Amendments to the Budget 2024 – adopted on 18 July 2023.

    – Oral Question on Improving the strategic approach on the enforcement of EU Law 2023/2886(RSP) PETI/9/13266 – Rapporteur: Dolors Montserrat (Chair) – adopted on 24 October 2023.

     

    ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

    The rapporteur declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.

    INFORMATION ON ADOPTION IN COMMITTEE RESPONSIBLE

    Date adopted

    8.4.2025

     

     

     

    Result of final vote

    +:

    –:

    0:

    16

    13

    4

    Members present for the final vote

    Peter Agius, Alexander Bernhuber, Damien Carême, Alma Ezcurra Almansa, Gheorghe Falcă, Chiara Gemma, Isilda Gomes, Sandra Gómez López, Cristina Guarda, Paolo Inselvini, Michał Kobosko, Sebastian Kruis, Murielle Laurent, Dolors Montserrat, Valentina Palmisano, Pina Picierno, Bogdan Rzońca, Pál Szekeres, Jana Toom, Nils Ušakovs, Ivaylo Valchev, Anders Vistisen, Maria Zacharia

    Substitutes present for the final vote

    Gordan Bosanac, Hana Jalloul Muro, Elena Nevado del Campo

    Members under Rule 216(7) present for the final vote

    Maravillas Abadía Jover, Adrian-George Axinia, Marieke Ehlers, Tomasz Froelich, Eleonora Meleti, Elena Sancho Murillo, Marion Walsmann

     

     

     

    FINAL VOTE BY ROLL CALL BY THE COMMITTEE RESPONSIBLE

    16

    +

    ECR

    Bogdan Rzońca

    PPE

    Maravillas Abadía Jover, Peter Agius, Alexander Bernhuber, Alma Ezcurra Almansa, Gheorghe Falcă, Eleonora Meleti, Dolors Montserrat, Elena Nevado del Campo, Marion Walsmann

    PfE

    Marieke Ehlers, Sebastian Kruis, Pál Szekeres, Anders Vistisen

    Renew

    Michał Kobosko, Jana Toom

     

    13

    ESN

    Tomasz Froelich

    NI

    Maria Zacharia

    S&D

    Isilda Gomes, Sandra Gómez López, Hana Jalloul Muro, Murielle Laurent, Pina Picierno, Elena Sancho Murillo, Nils Ušakovs

    The Left

    Damien Carême, Valentina Palmisano

    Verts/ALE

    Gordan Bosanac, Cristina Guarda

     

    4

    0

    ECR

    Adrian‑George Axinia, Chiara Gemma, Paolo Inselvini, Ivaylo Valchev

     

    Key to symbols:

    + : in favour

     : against

    0 : abstention

    MIL OSI Europe News

  • MIL-OSI: Genie Energy Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Newark, NJ, May 06, 2025 (GLOBE NEWSWIRE) — Genie Energy, Ltd. (NYSE: GNE), a leading retail energy and renewable energy solutions provider, today announced results for the first quarter of 2025. 

    Michael Stein, Chief Executive Officer of Genie Energy, commented: 

    “Our first quarter featured strong operational and financial results, highlighted by robust increases in revenue, profitability and cash generation compared to the year ago quarter.

    “At GRE, the significant investments we made in 2024 to expand our customer base drove a year-over-year increase of over 48,000 net new meters. We ended the quarter with approximately 413,000 meters served comprising 402,000 RCEs. Customer base growth in combination with a stable pricing environment enabled GRE to generate an 18% increase in both revenue and income from operations compared to the year ago quarter.

    “At GREW, we continue to advance our utility-scale project pipeline including the construction of our first community solar project in Lansing, New York. The Lansing array is on track for completion as early as the third quarter of this year. We expect it will become EBITDA accretive immediately once online.”

    “During the first quarter, we again returned value directly to our stockholders, repurchasing approximately 127,000 shares and paying our regular quarterly dividend of $0.075 per share.”

    First Quarter 2025 Highlights
    (Unless otherwise noted, 1Q25 results are compared to 1Q24, and results of Genie Retail Energy International (GREI) are included in discontinued operations for all periods.) 

      Revenue increased 14.3% to $136.8 million from $119.7 million;
      Gross profit increased 10.6% to $37.4 million from $33.8 million. Gross margin decreased to 27.3% from 28.2%;
      Income from operations increased to $12.8 million from $9.8 million;
      Adjusted EBITDA1 increased to $14.4 million from $11.7 million;
      Net income attributable to Genie common stockholders and income per diluted share (EPS) attributable to Genie common stockholders of $10.6 million and $0.40 compared to $8.1 million and $0.30, respectively;
      Non-GAAP net income1 and non-GAAP EPS1 attributable to Genie common stockholders of $11.1 million and $0.42 compared to $8.9 million and $0.33, respectively;
      Cash and cash equivalents, short and long-term restricted cash, and marketable equity securities increased to $210.2 million at March 31, 2025;
      Genie repurchased approximately 127,000 shares of its Class B Common stock for $1.9 million during 1Q25;
      Genie will pay a $0.075 per share quarterly dividend to Class A and Class B common stockholders on May 30, 2025, with a record date of May 19, 2025.
         

    1 Adjusted EBITDA, Non-GAAP net income attributable to Genie Energy Ltd. common stockholders, and Non-GAAP EPS for all periods presented are non-GAAP measures intended to provide useful information that supplements the core operating results in accordance with GAAP for Genie Energy or the relevant segment. Please refer to the Reconciliation of Non-GAAP Financial Measures at the end of this release for an explanation of these non-GAAP metrics, as well as reconciliations to its most directly comparable GAAP measures.

    Select Financial Metrics

    (in millions except for EPS)*   1Q25     1Q24     Change  
    Total revenue   $ 136.8       $ 119.7         14.3   %
    Genie Retail Energy   $ 132.5       $ 112.5         17.8   %
    Electricity   $ 104.1       $ 89.4         16.4   %
    Natural gas    $ 28.4       $ 22.4         26.8   %
    Others   $ 0.0       $ 0.7         (99.6 ) %
    Genie Renewables    $ 4.3       $ 7.2         -40.0   %
    Gross margin      27.3   %     28.2   %     (90 ) bps
    Genie Retail Energy     27.1   %     28.6   %     (150 ) bps
    Genie Renewables     33.7   %     22.0   %     1,170   bps
    Income from operations   $ 12.8       $ 9.8         30.3   %
    Operating margin     9.4   %     8.2   %     120   bps
    Net income from continuing operations   $ 10.4       $ 8.4         23.4   %
    Loss attributable to discontinued operations, net of tax   $ (0.1 )     $ (0.3 )       (60.7 ) %
    Net income attributable to Genie common stockholders   $ 10.6       $ 8.1         30.9   %
    Diluted earnings per share   $ 0.40       $ 0.30        $ 0.10    
    Non-GAAP net income attributable to Genie common stockholders   $ 11.1       $ 8.9         24.7   %
    Non-GAAP diluted earnings per share   $ 0.42       $ 0.33       $ 0.09    
    Adjusted EBITDA   $ 14.4       $ 11.7         22.7   %
    Cash flow from continuing operating activities   $ 13.5       $ 8.7         55.1   %

    * Numbers may not add due to rounding

    Segment Highlights

    Genie Retail Energy (GRE)

    GRE’s first quarter revenue increased 17.8% to $132.5 million from $112.5 million last year. Income from operations increased 18.2% to $16.8 million from $14.2 million, and Adjusted EBITDA increased 17.1% to $17.1 million from $14.6 million. The increases primarily reflect the growth in GRE’s customer base and higher consumption per customer.

    GRE Operational Metrics

    (RCEs and Meters in thousands at end of period)*   1Q25     1Q24     Change    
    RCEs     402       348       15.6   %  
    Electricity     318       267       19.2   %  
    Natural gas     84       81       3.8   %  
    Meters     413       365       13.3   %  
    Electricity     325       281       15.6   %  
    Natural gas     88       83       5.4   %  
    Gross meter additions during the period     61       70       (12.8 ) %  
    Churn**     5.5 %     5.5 %       %  
      * Numbers may not add due to rounding
      ** Excludes the impacts of aggregation deal expirations
         

    Genie Renewables (GREW)

    GREW’s first quarter revenue decreased 40.0% to $4.3 million from $7.2 million in 1Q24, primarily reflecting Genie Solar’s exit from the commercial-scale projects business during the second half of 2024. 

    Diversegy, Genie’s energy brokerage business, increased revenue by 55% year-over-year, and contributed the significant majority of GREW revenues in 1Q25.

    GREW’s loss from operations increased to $0.9 million from $0.6 million in 1Q24.

    At March 31, 2025, Genie Solar’s operating portfolio and development pipeline comprised:

    Pipeline   Total   Operational   Site Control   Permitting   Construction
    MW   123   10   97   6   10
    Project count   18   1   14   1   2

    During the quarter, portfolio and pipeline net additions totaled 15 MW and 2 projects.

    Balance Sheet and Cash Flow Highlights

    As of March 31, 2025, Genie reported cash and cash equivalents, short and long-term restricted cash, and marketable equity securities of $210.2 million.

    Total assets as of March 31, 2025 were $384.4 million. Liabilities totaled $197.0 million, and working capital (current assets less current liabilities) totaled $121.2 million. 

    Cash provided by operating activities increased to $13.5 million in 1Q25 from $8.7 million in 1Q24.

    Trended Financial Information*

    (in millions except EPS)**     1Q24     2Q24     3Q24       4Q24       1Q25     2023       2024  
    Total Revenue     $ 119.7     $ 90.7     $ 111.9     $ 102.9     $ 136.8     $ 428.7     $ 425.2  
    Genie Retail Energy     $ 112.5     $ 86.7     $ 105.8     $ 98.4     $ 132.5     $ 409.9     $ 403.6  
    Electricity     $ 89.4     $ 78.3     $ 100.7     $ 82.1     $ 104.1     $ 350.8     $ 350.8  
    Natural gas     $ 22.4     $ 8.4     $ 5.1     $ 16.2     $ 28.4     $ 56.0     $ 52.1  
    Others     $ 0.7     $ 0.0     $ 0.1     $ 0.0     $ 0.0     $ 3.1     $ 0.7  
    Genie Renewables     $ 7.2     $ 4.0     $ 6.1     $ 4.5     $ 4.3     $ 18.8     $ 21.9  
    Gross Profit     $ 33.8     $ 33.3     $ 37.9     $ 33.5     $ 37.4     $ 146.2     $ 138.8  
    Genie Retail Energy     $ 32.2     $ 32.3     $ 35.8     $ 31.9     $ 35.9     $ 143.3     $ 132.4  
    Genie Renewables     $ 1.6     $ 1.1     $ 2.1     $ 1.5     $ 1.5     $ 2.8     $ 6.3  
    Gross Margin       28.2 %     36.8 %     33.9 %     32.5 %     27.3 %     34.1 %     32.6 %
    Genie Retail Energy       28.6 %     37.2 %     33.8 %     32.4 %     27.1 %     35.0 %     32.8 %
    Genie Renewables       22.0 %     26.8 %     34.9 %     33.9 %     33.7 %     15.1 %     29.0 %
    Income (loss) from operations     $ 9.8     $ 10.6     $ 11.7     $ (20.8 )   $ 12.8     $ 10.0     $ 11.3  
    Operating margin       8.2 %     11.6 %     10.4 %     (20.2 )%     9.4 %     2.3 %     2.7 %
    Net income (loss) attributable to Genie common stockholders     $ 8.1     $ 9.6     $ 10.2     $ (15.3 )   $ 10.6     $ 19.2     $ 12.6  
    Diluted earnings (loss) per share     $ 0.30     $ 0.36     $ 0.38     $ (0.58 )   $ 0.40     $ 0.74     $ 0.5  
    Adjusted EBITDA     $ 11.7     $ 12.0     $ 13.6     $ 11.1     $ 14.41     $ 58.2     $ 48.5  
      * Some Genie Retail Energy International (GREI) operations have been classified as a discontinued operation and their results excluded from current and historical results
      ** Numbers may not add due to rounding
         

    Earnings Announcement and Supplemental Information

    At 8:30 AM Eastern this morning, Genie Energy’s management will host a conference call to discuss the Company’s financial and operational results, business outlook, and strategy. The call will begin with management’s remarks, followed by Q&A with investors.

    To participate in the conference call, dial 1-877-545-0523 (toll-free from the US) or 1-973-528-0016 (international) and provide the following participant access code: 585907.

    Approximately three hours after the call, a call replay will be accessible by dialing 1-877-481-4010 (toll-free from the US) or 1-919-882-2331 (international) and providing the replay passcode: 52352. The replay will remain available through Tuesday, May 20, 2025. In addition, a recording of the call will be available for playback on the “Investors” section of the Genie Energy website.

    About Genie Energy Ltd.

    Genie Energy Ltd., (NYSE: GNE) is a leading retail energy and renewable energy solutions provider. The Genie Retail Energy division (GRE) supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division’s (GREW) holdings include Genie Solar, a vertically-integrated provider of community and utility-scale solar energy solutions, and Diversegy, an energy procurement advisor. For more information, visit Genie.com.

    In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

    Contact

    Bill Ulrey
    Investor Relations
    Genie Energy, Ltd.
    wulrey@genie.com

    GENIE ENERGY LTD.
    CONSOLIDATED BALANCE SHEETS
    (in thousands, except per share amounts)

        March 31,
    2025
        December 31,
    2024
     
                 
    Assets             
    Current assets:            
    Cash and cash equivalents (including amounts related to variable interest entity of $255 and $263 at March 31, 2025 and December 31, 2024, respectively)   $ 112,544     $ 104,456  
    Restricted cash—short-term     27,178       26,608  
    Marketable equity securities     405       357  
    Trade accounts receivable, net of allowance for doubtful accounts of $8,238 and $8,086 at March 31, 2025 and December 31, 2024, respectively (including amounts related to variable interest entity of $255 and $250 at March 31, 2025 and December 31, 2024, respectively)     64,218       61,858  
    Inventory      13,726       12,188  
    Prepaid expenses (including amounts related to variable interest entity of $130 and $307 at March 31, 2025 and December 31, 2024, respectively)     9,503       9,893  
    Other current assets     9,207       8,493  
    Current assets of discontinued operations     1,727       3,594  
    Total current assets     238,508       227,447  
    Restricted cash—long-term     70,104       69,580  
    Property and equipment, net     26,866       25,246  
    Goodwill     12,686       12,749  
    Other intangibles, net     2,275       2,367  
    Deferred income tax assets, net     7,045       7,055  
    Other assets (including amounts related to variable interest entity of $364 and $363 at March 31, 2025 and December 31, 2024, respectively)     22,305       22,365  
    Noncurrent assets of discontinued operations     4,589       4,466  
    Total assets   $ 384,378     $ 371,275  
    Liabilities and equity                
    Current liabilities:                
    Trade accounts payable     29,752       31,233  
    Accrued expenses (including amounts related to variable interest entity of $476 and $502 at March 31, 2025 and December 31, 2024, respectively)     52,497       48,793  
    Income taxes payable     13,596       9,196  
    Current captive insurance liability     9,236       9,120  
    Current debt, net     2,167       357  
    Due to IDT Corporation, net     136       135  
    Other current liabilities     6,227       6,393  
    Current liabilities of discontinued operations     3,706       4,585  
    Total current liabilities     117,317       109,812  
    Noncurrent captive insurance liability     70,104       69,580  
    Noncurrent debt, net     6,838       8,668  
    Other liabilities     2,022       2,959  
    Noncurrent liabilities of discontinued operations     707       705  
    Total liabilities     196,988       191,724  
    Commitments and contingencies            
    Equity:                
    Genie Energy Ltd. stockholders’ equity:                
    Preferred stock, $0.01 par value; authorized shares – 10,000:                
    Series 2012-A, designated shares – 8,750; at liquidation preference, consisting of 0 shares issued and outstanding at March 31, 2025 and December 31, 2024            
    Class A common stock, $0.01 par value; authorized shares – 35,000; 1,574 shares issued and outstanding at March 31, 2025 and December 31, 2024     16       16  
    Class B common stock, $0.01 par value; authorized shares -200,000 ; 29,324 and 29,310 shares issued and 25,336 and 25,482 shares outstanding at March 31, 2025 and December 31, 2024, respectively     293       293  
    Additional paid-in capital     159,981       159,192  
    Treasury stock, at cost, consisting of 3,988 and 3,828 shares of Class B common stock at March 31, 2025 and December 31, 2024     (39,835 )     (37,486 )
    Accumulated other comprehensive income     4,373       3,919  
    Retained earnings     73,178       64,574  
    Total Genie Energy Ltd. stockholders’ equity     198,006       190,508  
    Noncontrolling interests:                
    Noncontrolling interests     (9,833 )     (10,174 )
    Receivable for issuance of equity of a subsidiary     (783 )     (783 )
    Total noncontrolling interests     (10,616 )     (10,957 )
    Total equity     187,390       179,551  
    Total liabilities and equity   $ 384,378     $ 371,275  


    GENIE ENERGY LTD.

    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)

        Three Months Ended March 31,  
        2025     2024  
        (in thousands, except per share data)
    Revenues:            
    Electricity   $ 104,063     $ 89,396  
    Natural gas     28,409       22,398  
    Other     4,335       7,894  
    Total revenues     136,807       119,688  
    Cost of revenues     99,444       85,902  
    Gross profit     37,363       33,786  
    Operating expenses:                
    Selling, general and administrative (i)     23,887       22,901  
    Provision for captive insurance liability     645       1,036  
    Income from operations     12,831       9,849  
    Interest income     1,981       1,340  
    Interest expense     (189 )     (32 )
    Gain on marketable equity securities and other investments     168       117  
    Other income, net     (6 )     80  
    Income before income taxes     14,785       11,354  
    Provision for income taxes     (4,380 )     (2,920 )
    Net income from continuing operations     10,405       8,434  
    Loss from discontinued operations, net of taxes     (104 )     (265 )
    Net income     10,301       8,169  
    Net income (loss) attributable to noncontrolling interests, net     (329 )     46  
    Net income attributable to Genie Energy Ltd. common stockholders   $ 10,630     $ 8,123  
                     
    Net income attributable to Genie Energy Ltd. common stockholders                
    Continuing operations   $ 10,734     $ 8,388  
    Discontinued operations     (104 )     (265 )
    Net income attributable to Genie Energy Ltd. common stockholders   $ 10,630     $ 8,123  
                     
    Earnings (loss) per share attributable to Genie Energy Ltd. common stockholders:                
    Basic:                
    Continuing operations   $ 0.40     $ 0.31  
    Discontinued operations           (0.01 )
    Earnings per share attributable to Genie Energy Ltd. common stockholders   $ 0.40     $ 0.30  
    Diluted                
    Continuing operations   $ 0.40     $ 0.31  
    Discontinued operations           (0.01 )
    Earnings per share attributable to Genie Energy Ltd. common stockholders   $ 0.40     $ 0.30  
                     
    Weighted-average number of shares used in calculation of earnings per share:                
    Basic     26,338       26,790  
    Diluted     26,612       27,298  
                     
    Dividends declared per common share    $ 0.075     $ 0.075  
    (i) Stock-based compensation included in selling, general and administrative expenses   $ 739     $ 749  


    GENIE ENERGY LTD. 

    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited) 

        Three Months Ended March 31,  
        2025     2024    
        (in thousands)  
    Operating activities            
    Net income   $ 10,301     $ 8,169    
    Net loss from discontinued operations, net of tax     (104 )     (265 )  
    Net income from continuing operations     10,405       8,434    
    Adjustments to reconcile net income to net cash provided by operating activities:                
    Provision for captive insurance liability     645       1,036    
    Depreciation and amortization     235       219    
    Provision for doubtful accounts receivable     309       729    
    Stock-based compensation     739       749    
    Unrealized gain on marketable equity securities and investment and others, net     (171 )     (49 )  
    Inventory valuation allowance           417    
    Changes in assets and liabilities:                
    Trade accounts receivable     (2,668 )     1,093    
    Inventory     (1,538 )     (2,191 )  
    Prepaid expenses     390       581    
    Other current assets and other assets     (209 )     505    
    Trade accounts payable, accrued expenses and other liabilities     981       (5,694 )  
    Due to IDT Corporation, net     1       (25 )  
    Income taxes payable     4,400       2,914    
    Net cash provided by operating activities of continuing operations     13,519       8,718    
    Net cash provided by operating activities of discontinued operations     1,830       4,208    
    Net cash provided by operating activities     15,349       12,926    
    Investing activities                
    Capital expenditures     (1,773 )     (1,206 )  
    Improvement of investment property     (370 )        
    Purchase of solar system facility           (1,344 )  
    Purchases of marketable equity securities and other investment           (2,094 )  
    Purchase of equity of subsidiary           (1,200 )  
    Proceeds from return of investments     50          
    Net cash used in investing activities     (2,093 )     (5,844 )  
    Financing activities                
    Dividends paid     (2,026 )     (2,121 )  
    Repurchases of Class B common stock     (1,887 )     (4,101 )  
    Repurchases of Class B common stock from employees     (462 )     (1,508 )  
    Net cash used in financing activities     (4,375 )     (7,730 )  
    Effect of exchange rate changes on cash, cash equivalents, and restricted cash     (80 )     74    
    Net increase (decrease) in cash, cash equivalents, and restricted cash     8,801       (574 )  
    Cash, cash equivalents, and restricted cash (excluding cash held at discontinued operations) at beginning of period     201,958       165,479    
    Cash, cash equivalents and restricted cash (including cash held at discontinued operations) at end of the period     210,759       164,905    
    Less: Cash of discontinued operations at end of period     933       2,886    
    Cash, cash equivalents, and restricted cash (excluding cash held at discontinued operations) at end of period   $ 209,826     $ 162,019    


    Reconciliation of Non-GAAP Financial Measures for the First Quarter of 2025

    In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States of America (GAAP), Genie Energy disclosed Adjusted EBITDA on a consolidated basis and for GRE and disclosed Non-GAAP Net Income Attributable to Genie Energy Ltd. Common Stockholders (Non-GAAP Net Income and Non-GAAP earnings per share (Non-GAAP EPS). Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS are non-GAAP financial measures.

    Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP.

    Genie’s measure of consolidated Adjusted EBITDA starts with income from operations and adds back depreciation, amortization, and stock-based compensation and deducts impairment of assets and equity in the net loss of equity method investees, net.

    Genie’s measure of Non-GAAP Net Income starts with net income attributable to Genie Energy Ltd. Common Stockholders in accordance with GAAP and adds captive insurance liability and the tax effect of this adjustment. These additions are non-cash and/or non-routine items in the relevant periods.

    Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS should be considered in addition to, not as a substitute for, or superior to, revenue, gross profit, income from operations, cash flow from operating activities, net income, basic and diluted earnings per share or other measures of liquidity and financial performance prepared in accordance with GAAP. In addition, Genie’s measurement of Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS may not be comparable to similarly titled measures reported by other companies.

    Management believes that Genie’s measure of Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS provide useful information to both management and investors by excluding certain expenses that may not be indicative of Genie’s or GRE’s core operating results. Management uses Adjusted EBITDA, non-GAAP Net Income and Non-GAAP EPS, among other measures, as relevant indicators of core operational strengths in its financial and operational decision-making.

    Management also uses Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS to evaluate operating performance in relation to Genie’s competitors. Disclosure of these non-GAAP financial measures may be useful to investors in evaluating performance and allows for greater transparency to the underlying supplemental information used by management in its financial and operational decision-making. In addition, Genie Energy has historically reported Adjusted EBITDA and believes it is commonly used by readers of financial information in assessing performance. Therefore, the inclusion of comparative numbers provides consistency in financial reporting at this time.

    Management refers to Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS as well as the GAAP measures revenue, gross profit, and income from operations, as well as net income, on a consolidated level to facilitate internal and external comparisons to Genie’s historical operating results, in making operating decisions, for budget and planning purposes, and to form the basis upon which management is compensated.

    Although depreciation and amortization are considered operating costs under GAAP, they primarily represent the non-cash current period allocation of costs associated with long-lived assets acquired or constructed in prior periods. Genie’s operating results exclusive of depreciation and amortization are therefore useful indicators of its current performance.

    Stock-based compensation recognized by Genie Energy and other companies may not be comparable because of the various valuation methodologies, subjective assumptions, and the variety of types of awards that are permitted under GAAP. Stock-based compensation is excluded from Genie’s calculation of Adjusted EBITDA because management believes this allows investors to make more meaningful comparisons of the operating results of Genie’s core business with the results of other companies. However, stock-based compensation will continue to be a significant expense for Genie Energy for the foreseeable future and an important part of employees’ compensation that impacts their performance. 

    Impairment of assets is a component of income (loss) from operations that is excluded from the calculation of Adjusted EBITDA. The impairment of assets is primarily dictated by events and circumstances outside the control of management that trigger an impairment analysis. While there may be similar charges in other periods, the nature and magnitude of these charges can fluctuate markedly and do not reflect the performance of Genie’s continuing operations. 

    Captive insurance liability is a non-cash charge incurred by Genie’s insurance operations. While there may be related charges in other periods, the magnitude of these changes can fluctuate markedly and do not reflect the performance of Genie’s continuing operations. Captive insurance losses are excluded from Genie’s calculation of Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS because management believes this allows investors to make more meaningful comparisons of the operating results of Genie’s core business with the results of other companies. 

    Following are the reconciliations of Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS on a consolidated basis to its most directly comparable GAAP measure. Adjusted EBITDA is reconciled to income from operations for Genie Energy on a consolidated basis as well as for GRE. 

    Non-GAAP Reconciliation – Consolidated Adjusted EBITDA

    (in millions)    1Q23     2Q23     3Q23     4Q23     1Q24     2Q24      
    3Q24
        4Q24       1Q25     2023     2024  
    Income (loss) from operations   $ 11.3     $ 15.0     $ 17.9     $ (34.2 )   $ 9.8     $ 10.6     11.7       (20.8 )     12.8     $ 10.0     $ 11.3  
    Add back                                                                                        
    Captive insurance liability   $ 0.0     $ 0.0     $ 0.0     $ 45.1     $ 1.0     $ 0.6     $ 1.0       30.9       0.6     $ 45.1     $ 33.6  
    Depreciation and amortization   $ 0.1     $ 0.1     $ 0.1     $ 0.2     $ 0.2     $ 0.2     0.2       0.2       0.2     $ 0.5     $ 0.9  
    Non-cash compensation   $ 0.8     $ 0.8     $ 0.6     $ 0.5     $ 0.7     $ 0.5     0.6       0.6       0.7     $ 2.7     $ 2.3  
    Impairment   $ 0.0     $ 0.0     $ 0.0     $ 0.0     $ 0.0     $ 0.1     0.1       0.0       0     $ 0.0     $ 0.2  
    Equity in net loss (income) of equity method investees   $ 0.2     $ (0.1 )   $ (0.1 )   $ (0.1 )   $ (0.1 )   $ 0.0     0.0       0.1       0.0     $ (0.1 )   $ 0.2  
    Adjusted EBITDA   $ 12.4     $ 15.8     $ 18.5     $ 11.5     $ 11.7     $ 12.0     13.6       11.1       14.4     $ 58.2     $ 59.5  


    Non-GAAP Reconciliation – GRE Adjusted EBITDA

    (in millions)   1Q25     1Q24     2024     2023  
    Income from operations   $ 16.8     $ 14.2     $ 56.5     $ 71.9  
    Add back                                
    Depreciation and amortization   $ 0.1     $ 0.1     $ 0.3     $ 0.3  
    Stock-based compensation   $ 0.3     $ 0.2     $ 1.1     $ 1.0  
    Impairment   $ 0.0     $ 0.0     $ 0.0     $ 0.0  
    Equity in the income of equity method investees   $ (0.1 )   $ 0.0     $ 0.5     $ 0.0  
    Adjusted EBITDA   $ 17.1     $ 14.6     $ 58.4     $ 73.3  

     Non-GAAP Reconciliation – Consolidated Non-GAAP Net Income Attributable to Genie Energy Ltd. Common Stockholders and Non-GAAP Diluted Income Per Share

    (in millions except for EPS)   1Q25     1Q24     2024     2023  
    Net income attributable to Genie Energy Ltd. common stockholders   $ 10.6     $ 8.1     $ 12.6     $ 19.2  
    Add back                                
    Captive insurance liability   $ 0.6     $ 1.0     $ 33.6     $ 45.1  
    Income tax effect of adjustment   $ (0.2 )     (0.3 )   $ (8.8 )   $ (10.5 )
    Non-GAAP net income attributable to Genie Energy Ltd. common stockholders   $ 11.1     $ 8.9     $ 37.4     $ 53.7  
                                     
    Diluted earnings per share   $ 0.40     $ 0.30     $ 0.46     $ 0.74  
    Total adjustments   $ 0.02     $ 0.03     $ 0.91     $ 1.33  
    Non-GAAP diluted earnings per share   $ 0.42     $ 0.33     $ 1.38     $ 2.06  
                                     
    Weighted average number of shares used in the calculation of diluted earnings per share     26.6       27.3       27.2       26.1  

    # # #

    The MIL Network

  • MIL-OSI: Greenbacker’s Cider solar project awarded North American Solar Deal of the Year

    Source: GlobeNewswire (MIL-OSI)

    • Utility-scale solar farm awarded for its innovative financing package—which includes one of the market’s earliest tax credit transfer bridge loans—on an industry-leading clean energy infrastructure project.
    • Financing supports construction and operation of 674 MWdc / 500 MWac Cider, Greenbacker’s largest clean energy asset to date, expected to be the largest solar farm in the state of New York when completed in 2026.

    NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — Greenbacker Renewable Energy Company LLC (“Greenbacker”), an energy transition-focused investment manager and independent power producer, is proud to announce today that its Cider solar project (“Cider”) has been named the 2024 North American Solar Deal of the Year by Proximo Infra.

    The award honors the innovative multi-tranche financing package behind the project, which includes one of the market’s earliest tax credit transfer bridge loans. The nearly $1 billion project financing supports the construction and operation of the 674 MWdc / 500 MWac utility-scale project in Genesee County, New York—the largest solar project ever built in the state and the largest clean energy asset in Greenbacker’s portfolio to date.

    The financing package comprises a $418 million tax equity bridge loan, a $373 million construction-to-term loan, and $79 million in letters of credit. It also includes an additional $81 million mezzanine financing in the form of a development loan.

    This recognition underscores Greenbacker’s continued commitment to advancing the energy transition through strong industry partnerships and innovative financing packages.

    “We’re incredibly proud of our team’s innovation, dedication, and expertise in bringing this financing to life,” said Carl Weatherley-White, interim CFO of Greenbacker. “While this award recognizes the innovative deal structure behind Cider, it’s also a reflection of the successful collaboration with our financing partners, our development partner Hecate Energy, our engineering, procurement, and construction managers, and a number of specialty firms we partnered with to make this project a reality. Greenbacker was able to realize this milestone with the commitment and precision of all parties involved.”

    “Cider’s financing structure combined a range of innovative instruments—including the tax credit transfer bridge loan, deal-contingent interest rate hedges, and dual tranche construction and term-loan facilities—while at the same time balancing and optimizing between two different sources of capital: traditional bank financing and mezzanine financing,” said Michael Dudum, VP on Greenbacker’s infrastructure investment team. “This thoughtful layering allowed us to optimize the capital stack and deliver the project in a highly efficient, cost-effective way.”

    The project was acquired from long-standing partner Hecate Energy, a leading US developer with a renewable energy and energy storage pipeline exceeding 43.7 GWac of projects. Cider broke ground in November 2024 and is expected to reach commercial operation in late 2026. Once operational, the project is estimated that Cider will generate enough clean energy to power more than 120,000 homes annually.1

    Over its lifetime, Cider is expected to generate approximately $100 million in tax revenue to the local community, funds that can support essential community services, such as local first responders, and important infrastructure, including area roadways, libraries, and schools.

    As of December 31, 2024, Greenbacker’s clean energy assets had cumulatively produced more than 11 million MWh of clean power since January 2016, abating over 7 million metric tons of carbon2 and saving nearly 8 billion gallons of water.3 Greenbacker’s fleet of operating and pre-operating projects currently support, or are expected to support, thousands of green jobs.4

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

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

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

    1Governor Hochul Announces Siting Approval of New York’s Largest Solar Facility to Date, governor.ny.gov.
    2 Data is as of December 31, 2024. When compared with a similar amount of power generation from fossil fuels. Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the Avoided Emissions and generation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions.
    3 Data is as of December 31, 2024. Water saved by Greenbacker’s clean energy projects is compared to the amount of water needed to produce the same amount of power by burning coal. Gallons of water saved are calculated based on Operational water consumption and withdrawal factors for electricity generating technologies: a review of existing literature – IOPscience, J Macknick et al 2012 Environ. Res. Lett. 7 045802.
    4 Data is as of December 31, 2024. Green jobs calculated using The National Renewable Energy Laboratory (NREL) State Clean Energy Employment Projection Support, nrel.gov.

    The MIL Network

  • MIL-OSI: Prairie Operating Co. Expands Senior Leadership Team

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, TX, May 06, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”) – an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin – today announced the appointment of Maree K. Delgado, CPA, as Senior Vice President of Accounting & Controller.

    With over two decades of experience across financial accounting, regulatory compliance, and risk management, primarily within the energy sector, Ms. Delgado brings a proven track record of building and leading high-performing finance teams through both growth and transformation. Her appointment reflects Prairie’s continued focus on operational excellence, financial discipline, and strong governance as it scales its DJ Basin platform.

    Most recently, Ms. Delgado served as E&P Controller at Antero Resources Corporation, where she led all aspects of financial reporting, SOX compliance, treasury, and revenue accounting. During her tenure, she played a critical role in implementing strategic financial partnerships, driving internal efficiencies, and overseeing two major system implementations. Prior to Antero, she held key executive roles at Ultra Petroleum Corp (now PureWest Energy), including Vice President and Chief Accounting Officer, where she managed accounting, tax, treasury, and marketing back-office operations through significant corporate transitions.

    Ms. Delgado is a Certified Public Accountant and holds a Bachelor of Commerce in Accounting and Business Law from Curtin University of Technology in Western Australia. She is licensed in the state of Colorado and brings global audit experience from her time at KPMG, where she managed energy-focused audits across multiple continents.

    “Maree is a proven leader with deep experience across all facets of energy accounting, financial reporting, and compliance,” said Greg Patton, EVP and CFO of Prairie. “On behalf of the Prairie team, I’d like to welcome her to the team as we continue executing our strategic growth plan.”

    About Prairie Operating Co.

    Prairie Operating Co. is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil and natural gas resources in the United States. The Company’s assets and operations are concentrated in the oil and liquids-rich regions of the Denver-Julesburg (DJ) Basin, with a primary focus on the Niobrara and Codell formations. The Company is committed to the responsible development of its oil and natural gas resources and is focused on maximizing returns through consistent growth, capital discipline, and sustainable cash flow generation. More information about the Company can be found at www.prairieopco.com.

    Forward-Looking Statement

    The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  All statements, other than statements of present or historical fact included herein, are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “strive”, “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Company’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. The Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. There may be additional risks not currently known by the Company or that the Company currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact the Company’s expectations can be found in the Company’s periodic filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K filed with the SEC on March 6, 2025, and any subsequently filed Quarterly Report and Current Report on Form 8-K. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

    Investor Relations Contact:
    Wobbe Ploegsma
    info@prairieopco.com 
    832.274.3449

    The MIL Network

  • MIL-OSI: Strategic Venue Partners Expands C-Suite with Industry Veteran David Tokunaga as COO

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., May 06, 2025 (GLOBE NEWSWIRE) — Strategic Venue Partners (SVP), the leading provider of in-building wireless-connectivity-as-a-service, proudly announces the appointment of David Tokunaga, a seasoned wireless industry executive, as its new Chief Operating Officer. With a career spanning more than 25 years across some of the most influential names in telecommunications, Tokunaga will play a pivotal role in driving the company’s mission to transform venues with fast, reliable, and future-ready wireless network solutions. This strategic leadership appointment follows several key financial milestones for SVP, with Tokunaga’s operational prowess poised to drive further growth and meet the rising enterprise demand for in-building wireless solutions.

    Tokunaga most recently served as General Manager of Boingo Wireless. In this role, he led sales, marketing, engineering, and operations for the enterprise segment. He also guided strategy, partnerships, and engineering initiatives. Previously, David also held senior roles at Qualcomm, leading global account teams and driving growth across emerging wireless technologies. Tokunaga also spent more than seven years at Nokia, overseeing product strategy during a pivotal phase in the company’s evolution.

    “We’re thrilled to welcome David to the SVP leadership team,” said Justin Marron, CEO of SVP. “He brings a wealth of experience across enterprise sales, engineering, operations, and large-scale business leadership at some of the most respected companies in the wireless industry. His unique blend of strategic vision and hands-on execution has consistently delivered impactful, scalable solutions. David’s leadership arrives at a pivotal moment for SVP, as we continue to accelerate growth and meet rising demand for our essential infrastructure assets.”

    “I’ve spent much of my career helping enterprises navigate the ever-changing wireless landscape—and I firmly believe that SVP’s approach is one of the most innovative and sustainable models I’ve ever seen,” said David Tokunaga, SVP’s new Chief Operating Officer. “By turning wireless connectivity into a managed service, SVP not only removes the financial and technological burden from its customers but also empowers them to grow and innovate faster utilizing SVP’s state-of-the-art wireless systems. I’m excited to join this incredible team and help continue to bring this vision to life at scale.”

    “The addition of David marks another major step forward for SVP. Since inception, SVP has been focused on the growing need for long-term solutions that thousands of venues face regarding their mission-critical connectivity challenges. Justin and his co-founder, Chad Aaron, have assembled an elite team of knowledgeable and passionate professionals to provide bespoke solutions to each of SVP’s customers,” said Marc H. Blair, COO and Senior Managing Director at Tiger Infrastructure Partners, the majority shareholder in SVP. “While the existing team has created a highly efficient and scalable business, the addition of David to the “C suite” adds decades of valuable experience and will expand SVP’s strategic and operational capabilities.”

    SVP’s infrastructure solutions are designed for each individual customer’s particular end use. SVP’s solutions can apply on a nearly universal basis and its customers operate in a wide variety of sectors, including healthcare, hospitality, information services and technology, higher education and retail. SVP’s long-term assets provide services essential to (i) the customer and employee experiences, (ii) optimization of business and enterprise operating systems and applications, (iii) timely dissemination of information and (iv) emergency communications.

    David is set to join the team in Chicago next week during Connect (X), the premier communications infrastructure industry event proudly sponsored by SVP. He will represent SVP on an informative panel entitled, It’s Time to Radically Re-Think In-Building Wireless on Tuesday, May 13th at 3:00 pm in Room W183B.

    About SVP
    Strategic Venue Partners (SVP) is the leading provider of in-building wireless connectivity-as-a-service. SVP partners directly with venues and carriers to design, develop, install, own, operate, and future-proof wireless infrastructure using solutions such as Distributed Antenna Systems, CBRS (OnGo®), Private LTE, Public Safety Systems, Wi-Fi, IPTV, RTLS, and fiber assets. SVP’s utility-style model enables enterprise clients to access cutting-edge wireless technology without the capital burden, backed by a long-term partner who grows with their business. Learn more at www.strategicvenue.com.

    About Tiger Infrastructure Partners
    Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger’s value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger believes strong tailwinds are driving demand for new infrastructure. Tiger maintains offices in New York and London. Visit www.tigerinfrastructure.com.

    Media Contact
    Megan Wesley, VP, Marketing
    info@strategicvenue.com

    The MIL Network

  • MIL-OSI Video: Meet Oconee Nuclear Station

    Source: United States of America – Federal Government Departments (video statements)

    Oconee Nuclear Station is located in Seneca, South Carolina and is one of the largest nuclear power plants in the country.

    The plant is home to three reactors that provide enough reliable power for 1.9 million homes.

    It was the first U.S. nuclear plant to use digital sensors to monitor operations and the first nuclera plant to generate more than 500 million megawatt-hours of electricity.

    Oconee is also the first Duke Energy plant cleared to operate for 80 years and will operate through 2053-2054.

    Learn more about nuclear energy: https://www.energy.gov/ne/office-nuclear-energy

    Follow us

    https://www.facebook.com/NuclearEnergyGov
    https://www.x.com/GovNuclear
    https://www.linkedin.com/showcase/NuclearEnergyGov

    https://www.youtube.com/watch?v=-spPs8j3NEQ

    MIL OSI Video

  • MIL-OSI Russia: Rosneft opened a photo exhibition in Ufa and laid out an alley of oil workers in honor of the 80th anniversary of the Victory

    Translation. Region: Russian Federal

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    ANK Bashneft (part of Rosneft) opened a photo exhibition in Ufa called “Bashkir Oil of Victory” and laid a memorial Alley of Bashkir Oil Workers. Representatives of the Government of the Republic, employees of the Company and schoolchildren of the “Movement of the First” took part in the ceremonial event. The patriotic initiative is aimed at preserving the historical memory of the contribution of Bashkir oil workers who fought at the front and home front workers to achieving Victory.

    The photo exhibition and memorial alley are located in the park near the memorial complex “Ufa – the city of labor valor” on the bank of the Belaya River. The exhibition tells about the milestones in the development of the republic’s oil industry and the labor feat of Bashkir oil workers during the war years. The historical shots depict working teams of the Ufa cracking plant and the Ishimbay oil refinery, and oil workers at the fields.

    During the Great Patriotic War, Bashkortostan became one of the significant centers of the country’s fuel and energy complex. The republic produced more than 5 million tons of oil, processed 6.5 million tons of oil, and produced 2.5 million tons of oil products. New fields and deposits were discovered in the republic, and the capacity of oil refineries was significantly increased. Bashkiria became the key center of the Volga-Ural oil province, which was called “Second Baku”.

    The photo chronicle tells about the people who forged the common Victory. Including the heroism of women in the rear, who worked in harsh conditions in several shifts for 12 hours at the fields and factories. Bashkir oil workers were repeatedly awarded the Challenge Red Banner of the State Defense Committee (GKO). In 1946, the Red Banners of the GKO as a symbol of labor glory were transferred for eternal storage to Field No. 1 of the Tuymazaneft Trust and the Ufa Oil Refinery.

    Rosneft and its subsidiaries actively participate in patriotic events that help strengthen historical memory, foster civic responsibility and preserve cultural heritage.

    Reference:

    ANK Bashneft is one of the oldest enterprises in the oil and gas industry of the country, carrying out activities in the extraction and processing of oil and gas, the company’s key assets are located in the Republic of Bashkortostan. Exploration and production of oil and gas are also carried out in the Khanty-Mansiysk Autonomous Okrug – Yugra, Nenets Autonomous Okrug, Orenburg Region and the Republic of Tatarstan.

    Department of Information and Advertising of PJSC NK Rosneft May 6, 2025

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

    MIL OSI Russia News

  • MIL-OSI: Enlight Renewable Energy Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    All of the amounts disclosed in this press release are in U.S. dollars unless otherwise noted

    TEL AVIV, Israel, May 06, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (NASDAQ: ENLT, TASE: ENLT) today reported financial results for the first quarter of 2025 ending March 31, 2025. Registration links for the Company’s earnings English and Hebrew conference call and webcasts can be found at the end of this earnings release.

    Financial Highlights

    3 months ending March 31, 2025

    • Revenues and income of $130m, up 39% year over year
    • Adjusted EBITDA1 of $132m, up 84% year over year
    • Net income of $102m, up 316% year over year
    • Cash flow from operations of $44m, up 24% year over year
      For the three months ended
     ($ millions) 31/03/2025 31/03/2024 % change
    Revenues and Income 130 94 39%
    Net Income 102 24 316%
    Adjusted EBITDA 132 72 84%
    Cash Flow from Operating Activities 44 35 24%

    ________________________
    1 The Company is unable to provide a reconciliation of Adjusted EBITDA to Net Income on a forward-looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted. Please refer to the reconciliation table in Appendix 2

    • In January 2025, the Company announced the sale of 44% of the Sunlight cluster of renewable energy projects in Israel for a consideration of $52m at a valuation of $119m, and deconsolidated the cluster from its balance sheet. The transaction added $42m to Adjusted EBITDA (actual consideration received less the book value of the associated assets) and $80m to net profit in the 1Q25 results.
    • A detailed analysis of financial results appears below

    Impact of U.S. Tariffs on the Company’s Operations

    Enlight’s procurement strategy has effectively mitigated significant exposure to increased U.S. import tariffs. The agreements and good relationships we have with our supply chain partners allow for a significant distribution of the impact of tariffs.

    Costs

    • Solar panels for projects under construction are either domestically constructed or sourced from outside China and carry no tariff exposure
    • 80% of battery capacity for projects under construction is supplied by Tesla, a supplier with high levels of domestic U.S. manufacturing

    Revenues

    • Negotiations for PPA price adjustments are now underway to account for higher tariff-related construction costs

    “Enlight showed strong financial results for 1Q25, including 84% growth in Adjusted EBITDA and a 316% rise in net profit,” said Gilad Yavetz, CEO of Enlight Renewable Energy.

    “The introduction of U.S. tariffs underscores how Enlight’s diversified procurement strategy in this market over the past two years has proven itself, effectively shielding us from cost increases. As a result, our U.S. projects now under construction, with total capex of $1.7bn, have no solar panel exposure under the current tariff policy. Selecting Tesla as our primary storage supplier further strengthens this position – its substantial levels of U.S. manufacturing offer greater tariff protection than other battery suppliers.

    “Securing $1.8bn in financing over recent months marks a significant milestone, and was achieved through three financial closings, a sale of a stake in the Sunlight cluster to institutional investors, and a successful bond issuance. This funding will enable the launch of our aggressive plan to begin construction on 4.7 FGW of capacity in 2025. Combined with our existing operating portfolio, these projects represent 90% of the capacity required to reach an annual revenue and income run rate of $1.4bn by 2027.”

    Portfolio Review

    • Enlight’s total portfolio is comprised of 19.2 GW of generation capacity and 49.8 GWh storage (33.4 FGW2)
    • Of this, the Mature portfolio component (including operating projects, projects under construction or pre-construction) contains 6.1 GW generation capacity and 8.8 GWh of storage (8.6 FGW)
    • Within the Mature portfolio component, the operating component has 2.5 GW of generation capacity and 1.9 GWh of storage (3.0 FGW)

    The full composition of the portfolio appears in the following table:

    Component Status FGW2 Annual revenues &
    income run rate ($m)
    Operating Commercial operation 3.0 ~5003
    Under Construction Under construction 1.8 ~305
    Pre-Construction 0-12 months to start of construction 3.8 ~615
    Total Mature Portfolio Mature 8.6 1,420~
    Advanced Development 13-24 months to start of construction 7
    Development 2+ years to start of construction 17.8
    Total Portfolio   33.4

    ________________________
    2 FGW (Factored GW) is a consolidated metric combining generation and storage capacity into a uniform figure based on the ratio of construction costs. The company’s current weighted average construction cost ratio is 3.5 GWh of storage per 1 GW of generation: FGW = GW + GWh / 3.5
    3 Based on the midpoint of 2025 guidance.

    • Operating component of the portfolio: 3 FGW
      • The operational portfolio totals 3 GW of capacity is spread over three regions: 44% of the capacity is located in 7 European countries, 29% is located in Israel, and 27% in the U.S.
      • 81% of the operational capacity sells electricity under PPA agreements, with 29% of the power sold under inflation-linked PPAs.
      • The operational portfolio generates annualized revenues and income of approximately $500 million.
         
    • Under Construction component of the portfolio: 1.8 FGW
      • Consists of three projects in the U.S. with a total capacity of 1.4 FGW; the Gecama Solar project in Spain with a capacity of 0.3 FGW; the solar and storage cluster in Israel; and the addition of storage capacity at project Bjornberget in Sweden. Approximately half of the cluster is expected to reach COD in 2025, with the rest expected to commission in 2026.
      • Projects under construction are expected to contribute $305m to the annual revenues and income run rate during their first full year of operation
         
    • Pre-construction component of the portfolio: 3.8 FGW
       
      • Two mega projects in the U.S., Snowflake and CO Bar, with a combined capacity of 2.6 FGW will begin construction in 2025 and are expected to contribute $455m to revenues and income on an annualized basis.
      • Nardo, a stand alone storage project in Italy with a capacity of 0.25 FGW, is expected to begin construction in 2H25. The Pre-construction portion of the Mature portfolio includes additional projects in Israel, Hungary, and the US with a combined capacity of 0.9 FGW.
      • Pre-construction projects are expected to contribute $615m in revenues and income in their first full year of operations.

        The under construction and pre-construction projects are expected to reach COD by the end of 2027, which is expected to boost operating capacity to 8.6 FGW and the annualized revenue and income run rate to $1.4bn.

    • Advanced Development component of the portfolio component: 7 FGW
      • 5.7 FGW in the U.S., with 100% of the capacity having passed completion of the System Impact Study, the most important study of the grid connection process, significantly de-risking the portfolio.
      • The U.S. pipeline includes several mega-projects, including the 1.4 FGW Cedar Island facility in Oregon and the 1.1 FGW Blackwater project in Virginia.
      • The U.S. portfolio includes several follow-ons to Mature projects, such as Atrisco 2 (0.7 FGW), the energy storage expansion at CO-Bar (0.9 FGW), and Snowflake B (1.3 FGW).
      • These projects reflect the Company’s “Connect and Expand” strategy, leveraging existing grid infrastructure with the development of new ones, thereby reducing construction costs and project risks while improving project returns.
      • 0.7 FGW in Europe, focused on Italy, Spain, and Croatia.
      • 0.6 FGW in MENA, focused on solar and storage projects and stand alone storage facilities, including approximately 0.4 FGW that won availability tariffs as part of the Israel Electricity Authority’s first high voltage storage availability tariff tender.
         
    • Development component of the portfolio: 17.8 FGW
      • 12 FGW in the U.S. with broad geographic presence, including the PJM, WECC, SPP and MISO regions. The storage portion of the US portfolio has grown by 5.6 FGW to reflect greater demand for energy storage in this region.
      • 3 FGW in Europe, focused on Italy, Spain, Croatia and entry into stand-alone storage operations in Poland.
      • 2.8 FGW in MENA, focused on solar combined storage projects and stand-alone storage facilities.

    Mature Portfolio Components Expected to Generate Annualized Revenues and Income of ~$1.4bn4,5

    ________________________
    4 Projection based on 2025 guidance, adding on total revenues and income (sales of electricity and tax benefits) of under construction and pre-construction projects
    5 The company’s revenues from tax benefits are estimated at approximately 20-24% of the total revenue run rate for December 2025; approximately 22-26% of the total revenue run rate for December 2026, and approximately 26-30% of the total revenue run rate for December 2027

    Financing Activities

    • During the quarter, the Company secured $1bn in financial closings for the Country Acres and Quail Ranch projects, representing 830 FMW of combined capacity.
    • Along with the financial close on the 560 FMW Roadrunner project in December 2024, the financing for the second wave of U.S. projects in now complete, with a total of $1.5bn raised.
    • Raising $245m through the sale of Series G and H bonds to finance the Company’s growth.
    • Sale of 44% of the Sunlight cluster for $52m cash at a valuation of $119m, generating Adjusted EBITDA of $42m (actual consideration received less associated book value of assets) and a pre-tax profit of $97m.
    • As of the balance sheet date, the Company maintained $350m of revolving credit facilities, of which none have been drawn.

    2025 Guidance

    Construction and commissioning

    • Expected commissioning of 0.9 FGW of capacity, which is expected to add approximately $148-152m to annualized revenues and income and $129-133m annualized EBITDA, starting in 2026.
    • Starting construction on 2.9 FGW of capacity, which is expected to add approximately $487-495m in annualized revenues and income and approximately $428-436m in annualized EBITDA gradually through 2026-2027.

    Financial guidance

    • Total revenues and income6 for 2025 are expected to range between $490m and $510m. Of the projected revenues and income, 38% are expected to be denominated in ILS, 35% in EUR, and 27% in USD.
    • Adjusted EBITDA7 for 2025 is expected to range between $360m and $380m.
    • Approximately 90% of the electricity volumes expected to be generated in 2025 will be sold at fixed prices through PPAs or hedges.

    ________________________
    6 Total revenues and income include revenues from the sale of electricity along with income from tax benefits from US projects amounting to $60m-80m.
    7 EBITDA is a non-IFRS financial measure. The Company is unable to provide a reconciliation of EBITDA to Net Income on a forward-looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted. Please refer to the reconciliation table in Appendix 2.

    Financial Results Analysis

    Revenues & Income by Segment
    ($ millions) For the three months ended  
    Segment 31/03/2025 31/03/2024 % change
    MENA 42,867 28,474 51%
    Europe 51,384 59,160 (13%)
    U.S. 34,789 4,495 674%
    Other 829 1,532 (46%)
    Total Revenues & Income 129,869 93,661 39%


    Revenues & Income

    In the first quarter of 2025, the Company’s total revenues and income increased to $130m, up from $94m last year, a growth rate of 39% year over year. This was composed of revenues from the sale of electricity, which rose 21% to $110m compared to $90m in the same period of 2024, as well as recognition of $20m in income from tax benefits, up 516% compared to $3m in 1Q24.

    The Company benefited from the revenues and income contribution of newly operational projects. Since the first quarter of last year, 576 MW and 1,526 MWh of new projects were connected to the grid and began selling electricity, including seven of the Israel Solar and Storage Cluster units in Israel, Atrisco in the U.S, Pupin in Serbia, and Tapolca in Hungary. The most important increases in revenue from the sale of electricity originated at Atrisco, which added $13m, followed by the Israel Solar and Storage Cluster, with $11m, while Pupin contributed $6m. In total, new projects contributed $30m to revenues from the sale of electricity.

    Offsetting this growth, the amount of electricity generated at our wind projects operating in Europe was lower compared to the same period last year mainly due to weaker wind volumes. In addition, generation at project Bjornberget in Sweden this quarter fell compared to last year due to a blade malfunction experienced at one of the site’s turbines. This prompted a complete shutdown of the wind farm, which is now in the process of gradually resuming operations. The Company recognized compensation of $4m from Bjornberget’s operating contractor in lieu of the lost revenues, which is recorded in other income.

    Revenues and income were distributed between MENA, Europe, and the US, with 34% denominated in Israeli Shekel, 39% in Euros, and 27% denominated in US Dollars.

    Net Income

    In the first quarter of 2025, the Company’s net income amounted to $102m compared to $24m last year, an increase of 316% year over year. This increase stems from the $28m increase in revenues and income and $80m profit from the partial sale of the Sunlight cluster. This was offset by higher total operating expenses of $17m and net financial expenses of $10m (all after tax).

    Adjusted EBITDA8

    The Company’s Adjusted EBITDA grew by 84% to $132m in the first quarter of 2025, compared to $72m for the same period in 2024. Of this increase, $36m was driven by the factors described in the Revenues and Income section. The partial sale of the Sunlight cluster contributed $42m, representing the actual consideration received less the book value of the associated assets. Offsetting this growth was an increase of $11m in COGS linked to the addition of new projects, and an increase of $4m in operating expenses. Adjusting for the effects of this transaction, 1Q25 Adjusted EBITDA grew by 25% year-on-year to $90m.

    ________________________
    8 Adjusted EBITDA is a non-IFRS measure. Please see the appendix of this presentation for a reconciliation to Net Income

    Conference Call Information

    Enlight plans to hold its First Quarter 2025 Conference Call and Webcasts on Tuesday, May 6, 2025 to review its financial results and business outlook in both English and Hebrew. Management will deliver prepared remarks followed by a question-and-answer session. Participants can join by dial-in or webcast:

    Upon registering, you will be emailed a dial-in number, direct passcode and unique PIN.

    The press release with the financial results as well as the investor presentation materials will be accessible from the Company’s website prior to the conference call. Approximately one hour after completion of the live call, an archived version of the webcast will be available on the Company’s investor relations website at https://enlightenergy.co.il/info/investors/.

    Supplemental Financial and Other Information

    We intend to announce material information to the public through the Enlight investor relations website at https://enlightenergy.co.il/info/investors, SEC filings, press releases, public conference calls, and public webcasts. We use these channels to communicate with our investors, customers, and the public about our company, our offerings, and other issues. As such, we encourage investors, the media, and others to follow the channels listed above, and to review the information disclosed through such channels. Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page of our website.

    Non-IFRS Financial Measures

    This release presents Adjusted EBITDA, a financial metric, which is provided as a complement to the results provided in accordance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). A reconciliation of the non-IFRS financial information to the most directly comparable IFRS financial measure is provided in the accompanying tables found at the end of this release.

    We define Adjusted EBITDA as net income (loss) plus depreciation and amortization, share based compensation, finance expenses, taxes on income and share in losses of equity accounted investees and minus finance income and non-recurring portions of other income, net. For the purposes of calculating Adjusted EBITDA, compensation for inadequate performance of goods and services procured by the Company are included in other income, net. Compensation for inadequate performance of goods and services reflects the profits the Company would have generated under regular operating conditions and is therefore included in Adjusted EBITDA. With respect to gains (losses) from asset disposals, as part of Enlight’s strategy to accelerate growth and reduce the need for equity financing, the Company sells parts of or the entirety of selected renewable project assets from time to time, and therefore includes realized gains or losses from these asset disposals in Adjusted EBITDA. In the case of partial assets disposals, Adjusted EBITDA includes only the actual consideration less the book value of the assets sold. Our management believes Adjusted EBITDA is indicative of operational performance and ongoing profitability and uses Adjusted EBITDA to evaluate the operating performance and for planning and forecasting purposes.

    Non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for financial information presented under IFRS. There are a number of limitations related to the use of non-IFRS financial measures versus comparable financial measures determined under IFRS. For example, other companies in our industry may calculate the non-IFRS financial measures that we use differently or may use other measures to evaluate their performance. All of these limitations could reduce the usefulness of our non-IFRS financial measures as analytical tools. Investors are encouraged to review the related IFRS financial measure, Net Income, and the reconciliations of Adjusted EBITDA provided below to Net Income and to not rely on any single financial measure to evaluate our business.

    Special Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s business strategy and plans, capabilities of the Company’s project portfolio and achievement of operational objectives, market opportunity, utility demand and potential growth, discussions with commercial counterparties and financing sources, pricing trends for materials, progress of Company projects, including anticipated timing of related approvals and project completion and anticipated production delays, the Company’s future financial results, expected impact from various regulatory developments and anticipated trade sanctions, expectations regarding wind production, electricity prices and windfall taxes, and Revenues and Income and Adjusted EBITDA guidance, the expected timing of completion of our ongoing projects, and the Company’s anticipated cash requirements and financing plans , are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions.

    These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; disruptions in trade caused by political, social or economic instability in regions where our components and materials are made; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; exposure to market prices in some of our offtake contracts; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives or benefits for, or regulations mandating the use of, renewable energy; our ability to effectively manage the global expansion of the scale of our business operations; our ability to perform to expectations in our new line of business involving the construction of PV systems for municipalities in Israel; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, the impact of tariffs on the cost of construction and our ability to mitigate such impact, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with increasingly complex tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel, including the ongoing war in Israel, where our headquarters and some of our wind energy and solar energy projects are located; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”), as may be updated in our other documents filed with or furnished to the SEC.

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

    About Enlight

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

    Company Contacts

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

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

    Appendix 1 – Financial information

    Consolidated Statements of Income    
        For the three months ended at
    March 31
        2025   2024(*)
        USD in   USD in 
        Thousands   Thousands
             
    Revenues   109,758   90,397
    Tax benefits   20,111   3,264
    Total revenues and income   129,869   93,661
             
    Cost of sales (**)   (26,638)   (15,436)
    Depreciation and amortization   (33,789)   (25,604)
    General and administrative expenses   (11,846)   (8,859)
    Development expenses   (2,564)   (2,418)
    Total operating expenses   (74,837)   (52,317)
    Gains from projects disposals   97,262   27
    Other income (expenses), net   (1,105)   1,517
    Operating profit   151,189   42,888
             
    Finance income   6,695   8,065
    Finance expenses   (30,203)   (19,493)
    Total finance expenses, net   (23,508)   (11,428)
             
    Profit before tax and equity loss   127,681   31,460
    Share of losses of equity accounted investees   (1,227)   (144)
    Profit before income taxes   126,454   31,316
    Taxes on income   (24,651)   (6,831)
    Profit for the period   101,803   24,485
             
    Profit for the period attributed to:        
    Owners of the Company   94,458   16,763
    Non-controlling interests   7,345   7,722
        101,803   24,485
    Earnings per ordinary share (in USD) with a par value of        
    NIS 0.1, attributable to owners of the parent Company:        
    Basic earnings per share   0.80   0.14
    Diluted earnings per share   0.75   0.14
    Weighted average of share capital used in the        
    calculation of earnings:        
    Basic per share   118,783,541   117,963,310
    Diluted per share   125,316,177   122,889,909
             

    (*) The Consolidated Statements of Income have been adjusted to present comparable information for the previous period. For additional details please see Appendix 8.
    (**) Excluding depreciation and amortization.

    Consolidated Statements of Financial Position as of        
             
        March 31   December 31
        2025   2024
        USD in   USD in
        Thousands   Thousands
    Assets        
             
    Current assets        
    Cash and cash equivalents   449,530   387,427
    Restricted cash   82,692   87,539
    Trade receivables   73,125   50,692
    Other receivables   71,475   99,651
    Other financial assets   405   975
    Assets of disposal groups classified as held for sale     81,661
    Total current assets   677,227   707,945
             
    Non-current assets        
    Restricted cash   59,964   60,802
    Other long-term receivables   62,092   61,045
    Deferred costs in respect of projects   392,119   357,358
    Deferred borrowing costs   61   276
    Loans to investee entities   32,329   18,112
    Investments in equity accounted investees   49,303  
    Fixed assets, net   3,961,021   3,699,192
    Intangible assets, net   293,035   291,442
    Deferred taxes assets   8,023   10,744
    Right-of-use asset, net   210,739   210,941
    Financial assets at fair value through profit or loss   74,555   69,216
    Other financial assets   63,903   59,812
    Total non-current assets   5,207,144   4,838,940
             
    Total assets   5,884,371   5,546,885
             
    Consolidated Statements of Financial Position as of (Cont.)        
             
        March 31   December 31
        2025   2024
        USD in   USD in
        Thousands   Thousands
    Liabilities and equity        
             
    Current liabilities        
    Credit and current maturities of loans from banks and other financial institutions   207,662   212,246
    Trade payables   167,765   161,991
    Other payables   101,928   107,825
    Current maturities of debentures   23,049   44,962
    Current maturities of lease liability   10,192   10,240
    Other financial liabilities   5,777   8,141
    Liabilities of disposal groups classified as held for sale     46,635
    Total current liabilities   516,373   592,040
             
    Non-current liabilities        
    Debentures   549,517   433,994
    Other financial liabilities   118,891   107,865
    Convertible debentures   232,536   133,056
    Loans from banks and other financial institutions   2,024,315   1,996,137
    Loans from non-controlling interests   79,081   75,598
    Financial liabilities through profit or loss   25,985   25,844
    Deferred taxes liabilities   62,310   41,792
    Employee benefits   1,092   1,215
    Lease liability   209,958   211,941
    Deferred income related to tax equity   387,943   403,384
    Asset retirement obligation   85,141   83,085
    Total non-current liabilities   3,776,769   3,513,911
             
    Total liabilities   4,293,142   4,105,951
             
    Equity        
    Ordinary share capital   3,323   3,308
    Share premium   1,028,528   1,028,532
    Capital reserves   49,890   25,273
    Proceeds on account of convertible options   25,083   15,494
    Accumulated profit   202,377   107,919
    Equity attributable to shareholders of the Company   1,309,201   1,180,526
    Non-controlling interests   282,028   260,408
    Total equity   1,591,229   1,440,934
    Total liabilities and equity   5,884,371   5,546,885
             
    Consolidated Statements of Cash Flows        
             
        For the three months ended
    at March 31
        2025   2024
        USD in   USD in
        Thousands   Thousands
             
    Cash flows for operating activities        
    Profit for the period   101,803   24,485
             
    Income and expenses not associated with cash flows:        
    Depreciation and amortization   33,789   25,604
    Finance expenses, net   22,388   11,486
    Share-based compensation   1,710   3,117
    Taxes on income   24,651   6,831
    Tax benefits   (20,111)   (3,264)
    Other income (expenses), net   1,105   (134)
    Company’s share in losses of investee partnerships   1,227   144
    Gains from projects disposals   (97,262)   (27)
        (32,503)   43,757
             
    Changes in assets and liabilities items:        
    Change in other receivables   (856)   (2,142)
    Change in trade receivables   (20,376)   (16,909)
    Change in other payables   8,604   (539)
    Change in trade payables   7,802   71
        (4,826)   (19,519)
             
    Interest receipts   2,512   2,928
    Interest paid   (22,298)   (15,624)
    Income Tax paid   (1,075)   (798)
             
    Net cash from operating activities   43,613   35,229
             
    Cash flows for investing activities        
    Sale (Acquisition) of consolidated entities, net   36,223   (1,388)
    Changes in restricted cash and bank deposits, net   8,176   (4,988)
    Purchase, development, and construction in respect of projects   (255,862)   (199,733)
    Loans provided and Investment in investees   (7,430)   (11,284)
    Repayments of loans from investees   30,815  
    Payments on account of acquisition of consolidated entity   (7,447)   (10,851)
    Purchase of financial assets measured at fair value through profit or loss, net   (3,040)   (8,409)
    Net cash used in investing activities   (198,565)   (236,653)
             
    Consolidated Statements of Cash Flows (Cont.)      
        For the three months ended at March 31
        2025   2024
        USD in   USD in
        Thousands   Thousands
             
    Cash flows from financing activities        
    Receipt of loans from banks and other financial institutions   143,578   71,371
    Repayment of loans from banks and other financial institutions   (108,922)   (10,448)
    Issuance of debentures   125,838  
    Issuance of convertible debentures   114,685  
    Repayment of debentures   (21,994)   (1,284)
    Dividends and distributions by subsidiaries to non-controlling interests     (108)
    Deferred borrowing costs   (35,199)   (2,682)
    Repayment of loans from non-controlling interests     (955)
    Increase in holding rights of consolidated entity   (1,392)  
    Exercise of share options   11  
    Repayment of lease liability   (4,058)   (3,671)
    Proceeds from investment in entities by non-controlling interest   7,732   152
             
    Net cash from financing activities   220,279   52,375
             
    Increase (Decrease) in cash and cash equivalents   65,327   (149,049)
             
    Balance of cash and cash equivalents at beginning of period   387,427   403,805
             
    Effect of exchange rate fluctuations on cash and cash equivalents   (3,224)   (4,905)
             
    Cash and cash equivalents at end of period   449,530   249,851
             


    Information related to Segmental Reporting

      For the three months ended at March 31, 2025
      MENA(**)   Europe(**)  

    USA

      Total reportable segments   Others   Total
      USD in thousands
    Revenues 42,867   51,384   14,678   108,929   829   109,758
    Tax benefits     20,111   20,111     20,111
    Total revenues and income 42,867   51,384   34,789   129,040   829   129,869
                           
    Segment adjusted EBITDA 68,017   44,663   30,549   143,229   81   143,310
         
    Reconciliations of unallocated amounts:    
    Headquarter costs (*)   (11,701)
    Intersegment profit   106
    Gains from projects disposals   54,973
    Depreciation and amortization and share-based compensation   (35,499)
    Operating profit   151,189
    Finance income   6,695
    Finance expenses   (30,203)
    Share in the losses of equity accounted investees   (1,227)
    Profit before income taxes   126,454
         

    (*) Including general and administrative and development expenses (excluding depreciation and amortization and share based compensation).

    (**) Due to the Company’s organizational restructuring, the Chief Operation Decision Maker (CODM) now reviews the group’s results by segmenting them into three business units: MENA (Middle East and North Africa), Europe, and the US. Consequently, the Central/Eastern Europe and Western Europe segments have been consolidated into the “Europe” segment, the Israel segment has been incorporated into the MENA segment, and the Management and Construction segment has been excluded. The comparative figures for the three months ended March 31, 2024, have been updated accordingly.

    Information related to Segmental Reporting

      For the three months ended at March 31, 2024
      MENA   Europe  

    USA

      Total reportable segments   Others   Total
      USD in thousands
    Revenues 28,474   59,160   1,231   88,865   1,532   90,397
    Tax benefits     3,264   3,264     3,264
    Total revenues and income 28,474   59,160   4,495   92,129   1,532   93,661
                           
    Segment adjusted EBITDA 24,528   50,707   3,122   78,357   668   79,025
         
    Reconciliations of unallocated amounts:    
    Headquarter costs (*)   (7,606)
    Intersegment profit   190
    Depreciation and amortization and share-based compensation   (28,721)
    Operating profit   42,888
    Finance income   8,065
    Finance expenses   (19,493)
    Share in the losses of equity accounted investees   (144)
    Profit before income taxes   31,316
         

    (*) Including general and administrative and development expenses (excluding depreciation and amortization and share based compensation).

    Appendix 2 – Reconciliations between Net Income to Adjusted EBITDA

     
    ($ thousands)   For the three months ended at
        March 31, 2025   March 31, 2024
    Net Income   101,803   24,485
    Depreciation and amortization   33,789   25,604
    Share based compensation   1,710   3,117
    Finance income   (6,695)   (8,065)
    Finance expenses   30,203   19,493
    Gains from projects disposals (*)   (54,973)  
    Share of losses of equity accounted investees   1,227   144
    Taxes on income   24,651   6,831
    Adjusted EBITDA   131,715   71,609
             
    * Profit from revaluation linked to partial sale of asset.
       

    Appendix 3 – Debentures Covenants

    Debentures Covenants

    As of March 31, 2025, the Company was in compliance with all of its financial covenants under the indenture for the Series C, D, F, G and H Debentures, based on having achieved the following in its consolidated financial results:

    Minimum equity

    The company’s equity shall be maintained at no less than NIS 375 million so long as debentures F remain outstanding, NIS 1,250 million so long as debentures C and D remain outstanding, and USD 600 million so long as debentures G and H remain outstanding.

    As of March 31, 2025, the company’s equity amounted to NIS 5,916 million (USD 1,591 million).

    Net financial debt to net CAP

    The ratio of standalone net financial debt to net CAP shall not exceed 70% for two consecutive financial periods so long as debentures F remain outstanding and shall not exceed 65% for two consecutive financial periods so long as debentures C, D, G and H remain outstanding.

    As of March 31, 2025, the net financial debt to net CAP ratio, as defined above, stands at 36%.

    Net financial debt to EBITDA

    So long as debentures F remain outstanding, standalone financial debt shall not exceed NIS 10 million, and the consolidated financial debt to EBITDA ratio shall not exceed 18 for more than two consecutive financial periods.

    For as long as debentures C and D remain outstanding, the consolidated financial debt to EBITDA ratio shall not exceed 15 for more than two consecutive financial periods.

    For as long as debentures G and H remain outstanding, the consolidated financial debt to EBITDA ratio shall not exceed 17 for more than two consecutive financial periods.

    As of March 31, 2025, the net financial debt to EBITDA ratio, as defined above, stands at 8.

    Equity to balance sheet

    The standalone equity to total balance sheet ratio shall be maintained at no less than 20% ,25% and 28%, respectively, for two consecutive financial periods for as long as debentures F, debentures C and D and debentures G and H remain outstanding.

    As of March 31, 2025, the equity to balance sheet ratio, as defined above, stands at 55%.

    An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/94346603-d361-4e84-aabc-62db3e22c10c

    The MIL Network

  • MIL-OSI: CBAK Energy to Participate in Shenzhen International Battery Technology Conference & Expo on Tuesday, May 15, 2025

    Source: GlobeNewswire (MIL-OSI)

    DALIAN, China, May 06, 2025 (GLOBE NEWSWIRE) — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy”, or the “Company”), a leading lithium-ion battery manufacturer and electric energy solution provider in China, today announced its participation in the upcoming Shenzhen International Battery Technology Conference & Expo (“CIBF 2025”, or the “Event”), scheduled from Tuesday, May 15, 2025 to Saturday, May 17, 2025.

    Event Details:

    • Date: May 15-17, 2025 (Beijing Time)
    • Location: Shenzhen International Convention & Exhibition Center, One Zhan Cheng Road, Bao’an District, Shenzhen, PRC
    • Booth Number: Booth 12T008, Hall 12

    CBAK Energy’s sales team and R&D department, along with key members of our management, will be attending the Event. All interested parties are welcomed to visit our booth and engage with our team.

    About CBAK Energy
    CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.

    For more information, please visit ir.cbak.com.cn

    About CIBF 2025
    CIBF 2025 is one of the largest and most influential international exhibitions in the global battery industry. Organized by the China Industrial Association of Power Sources, this event is expected to cover an exhibition area of over 300,000 square meters, with more than 3,000 exhibitors and over 400,000 professional visitors. The event will showcase the latest advancements in power batteries, energy storage solutions, hydrogen fuel cells, battery management systems (BMS), and sustainable energy innovations.

    For more information, plesase visit https://www.bat-expo.com

    For further inquiries, please contact:

    In China:

    CBAK Energy Technology, Inc.
    Investor Relations Department
    Email: ir@cbak.com.cn

    The MIL Network

  • MIL-OSI: Nagano Lean Body Tonic Reviews (WARNING) Shocking Consumer Reports on Ingredients, Side Effects, And Benefits!

    Source: GlobeNewswire (MIL-OSI)

    Explore the benefits, side effects, and user feedback on Nagano Tonic. Learn how this natural weight loss formula boosts metabolism, supports energy and promotes healthy fat burning with its clinically-backed ingredients.

    NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — Nagano Lean Body Tonic is a natural solution that is claimed to promote healthy weight loss in the body. The creator of the supplement says that this solution contains a proprietary blend of clinically proven natural ingredients that acts on the prime factor that can induce healthy fat-burning in the body which is activating your metabolism.

    In this Nagano Lean Body Tonic review, we will study and analyze everything about the supplement that will help you decide if it is the right product for you or not.

    MUST READ: Critical Evaluation – Expert Opinions On Nagano Lean Body Tonic’s Results And Effectiveness!

    Nagano Lean Body Tonic Reviews: How It Targets Stubborn Fat Using Science-Backed Ingredients?

    This recently launched weight loss solution has been receiving massive hype from weight loss supplement users in the last few users. It seems that the prime reason why the formula is hyped is because of the fact that the supplement is effective in initiating healthy weight loss in the body.

    However, it is important to make sure that the supplement is effective and for this, we will have to dig deep into the supplement and examine its various aspects such as the ingredients of the formula, its working principle, the benefits that it offers, its safety and manufacturing quality, and so on.

    In this Nagano Lean Body Tonic review, we present you with a detailed analysis of all aspects of the supplement that can help you determine its effectiveness. Along with this, we will also look at a few other factors about the supplement such as its cost, refund policy, and availability to reach an informed decision on whether or not the supplement is worth spending your money on.

    Therefore, without further ado, let’s dive into the review.

    Official Website – Click Here!

    What Exactly Is Nagano Lean Body Tonic?

    Nagano Lean Body Tonic is a natural weight loss supplement that is made for all people struggling to keep a healthy weight. The formula is a proprietary blend of clinically backed natural ingredients that activates your body’s metabolism which will induce a healthy weight loss in the body.

    Besides helping a person lose weight, the natural solution also minimizes cravings, boosts energy levels, supports mental clarity, improves digestion, and increases energy levels. The weight loss formula is made in FDA-registered lab facilities in the US by following strict quality control measures.

    The supplement contains only high-quality natural ingredients and there are no artificial substances in the supplement which suggests that it is a safe one. The manufacturer has made the formula in powder form which you can take by mixing with water or any beverage of your choice.

    How Does It Reshape Your Body?

    Nagano Lean Body Tonic is a natural solution that is formulated based on an Eastern Elixir that has helped people in Japan stay fit and lean even in their old age. The formula works on the main factor that works to help you lose weight which is your body’s metabolism.

    Nagano Lean Body Tonic consists of ingredients that have properties that activate your metabolism and increase its rate. This will result in the release of excess fat in the body and they will be then burnt for energy production, thus inducing healthy fat loss in the body.

    Along with helping you lose weight, the ingredients of Nagano Lean Body Tonic can also help in improving gut health, increasing energy and vitality, improving mental clarity, and minimizing cravings. All of these can help a person stay fit and healthy.

    Curious To Know More About Nagano Tonic? Visit The Official Website

    Nagano Lean Body Tonic Ingredients: What’s Inside?

    Nagano Lean Body Tonic contains the following ingredients that are added in the right proportions to work effectively in the body. Let us now take a detailed look at a few of the main ingredients of the supplement:

    Camu Camu

    Camu camu is an ingredient that is packed with vitamin C and antioxidants that are beneficial for improving your overall health. The ingredient can help you lose weight by igniting metabolism at a deeper level. Camu camu also boosts energy levels and helps you stay active.

    EGCG

    EGCG is an active substance in green tea that has been used in various traditional medicines to treat numerous ailments. This ingredient can increase your metabolic rate which will help you lose extra fat in the body. EGCG also boosts your vitality.

    Mangosteen

    Mangosteen is a nutrient-rich fruit that promotes healthy weight loss in the body by boosting your metabolism. The ingredient has powerful antioxidant properties that protect your body from oxidative stress. Mangosteen also aids in maintaining healthy digestion.

    Panax

    Panax is an ingredient that is commonly used in East Asian traditional medicines for various purposes. The ingredient has numerous health properties that can improve gut health, boost metabolism, and initiate weight loss in the body.

    Momordica Charantia

    Momordica charantia is one of the main ingredients of Nagano Lean Body Tonic that helps you lose weight by enhancing your metabolism. The ingredient can also aid in boosting your energy levels by burning extra fat in the body for energy production.

    Ashwagandha

    Ashwagandha is a powerful adaptogen that can offer physical, mental, and cognitive health benefits. The ingredients can boost your metabolism, increase your energy levels, and enhance vitality. It also helps you burn excess fat in the body.

    Besides these ingredients, the Nagano Lean Body Tonic formula also contains acerola, eleuthero root, alfalfa leaf, cinnamon cassia, ginger, and inulin, and a proprietary blend of 8 powerful antioxidants.

    Click To Read The Scientific Evidence That Supports the Nagano Tonic Formula

    What Benefits Can Be Expected From Nagano Tonic?

    Now let’s see what are the benefits that Nagano Lean Body Tonic offers:

    • The formula can help you lose weight
    • Nagano Lean Body Tonic minimizes cravings
    • The supplement boosts energy and vitality
    • The supplement supports mental clarity

    Manufacturing Quality And Safety Standards

    Nagano Lean Body Tonic is made using natural ingredients that are sourced from trusted suppliers and then they were made into a unique proprietary blend in FDA-registered facilities that follows GMP guidelines. The creator has taken extensive quality measures in each step of the manufacturing process ensuring quality.

    Nagano Lean Body Tonic does not have any artificial ingredients, harmful chemicals, additives, or preservatives. This shows that the manufacturer has followed the necessary safety standards in the formulation of the supplement. The safety standard of the supplement also makes sure that it is completely free of all kinds of harmful side effects.

    Click To Verify Nagano Tonic’s Availability On The Official Website

    Right Way To Use Nagano Tonic To Minimize Side Effects

    The manufacturer of Nagano Lean Body Tonic has included a formula worth a month’s use in each bottle. As per the official website, the ideal dosage that needs to be followed when taking the supplement is one scoop per day. You may take the supplement by mixing it with water or any other drink of your choice.

    If you are unsure about the dosage, you may consult a doctor and take the supplement as advised by them. In both cases, the manufacturer advises that you stick to the dosage that is healthy for your body.

    Nagano Lean Body Tonic Results And Longevity

    Nagano Lean Body Tonic is a supplement that can give you effective and long-lasting results within a short span of time. You will see changes in your body weight within a few weeks of use and then consistent use of the supplement for a few months will give you maximum results.

    As per the manufacturer, the average time needed to get effective results from the supplement is three months. This may vary from person to person. Nagano Lean Body Tonic works in your body to give you long-lasting results and the manufacturer says that the result that you receive from the supplement will last for a few years if you follow a healthy lifestyle.

    Benefits And Side Effect Reports from Real Users

    Nagano Lean Body Tonic is a natural weight loss supplement praised for its ability to boost metabolism, burn stubborn fat, and improve digestion using a blend of herbal ingredients. Many users report noticeable results in energy levels and fat reduction within weeks of use.

    On platforms like Reddit, most discussions around Nagano Tonic focus on its mild to non-existent side effects. Common feedback highlights how it doesn’t cause jitters, crashes, or stomach discomfort—issues often associated with weight loss products.

    A few users mentioned that results can be slower without diet and exercise changes, and some expressed skepticism about marketing claims. However, complaints about side effects are minimal to none, with the majority of users reporting a smooth experience.

    Overall, Nagano Tonic is gaining a positive reputation among health-conscious individuals seeking a more natural and gentle approach to weight loss.

    Want To Read Genuine Customer Reviews? Visit The Official Website!

    Real User Testimonials And Experiences

    Curious about what others are experiencing with Nagano Lean Body Tonic? Here are a few honest testimonials from real users who noticed results without the harsh side effects.

    • Emily R., 42 – Dallas, TX

    “I’ve tried a lot of weight loss products, and most left me jittery or upset my stomach. With Nagano Lean Body Tonic, I noticed steady progress without any of those issues. No headaches, no nausea—just a gentle boost in energy and fewer cravings. It felt like my body was finally working with me, not against me.”

    • Jake M., 35 – Boulder, CO

    “I was skeptical at first, but I started taking the tonic with breakfast every day. What stood out to me was how easy it was on my body—no crashes or weird side effects. I felt more focused, and my midsection started slimming down after a few weeks. Best part? Zero side effects for me.”

    • Maria S., 59 – Tampa, FL

    “I have a sensitive system, so I’m very cautious with supplements. But Nagano Lean Body Tonic was surprisingly gentle. It didn’t interfere with my digestion or sleep. I’ve lost 8 pounds so far and feel lighter overall—with none of the usual discomfort I’ve had from other products.”

    • Daniel K., 47 – Portland, OR

    “I’ve been using Nagano Lean Body Tonic for over a month now, and what impressed me most is how clean it feels. No racing heart, no bloating, and no sleep issues—which I usually get with weight loss supplements. It’s been a smooth ride, and I’m already down 10 pounds. Highly recommend it if you’re looking for results without the side effects.”

    How Much Does Nagano Lean Body Tonic Cost?

    The price details of Nagano Lean Body Tonic as per the weight loss formula’s official website are given below:

    • 30-Day Supply: 1 bottle – $69 total ($69 per bottle)
    • 90-Day Supply: 3 bottles – $177 total ($59 per bottle)
    • 180-Day Supply: 6 bottles – $234 total ($39 per bottle)

    Click Here To Buy Nagano Lean Body Tonic From Its Official Website

    Where To Order Nagano Lean Body Tonic For The Best Price?

    At present, Nagano Lean Body Tonic is available for the best price on its official website. The manufacturer says that you can order the supplement on its official website without any hassles. The supplement isn’t sold by the manufacturer through any third-party websites or stores.

    Since Nagano Lean Body Tonic is quite popular, there could be gimmicks of the formula sold by unauthorized sellers which may look similar to the original one but won’t work as effectively. Therefore, to get the original Nagano Lean Body Tonic, we recommend ordering the supplement on its official website only.

    Bonuses

    With the 3-bottle and 6-bottle package of Nagano Lean Body Tonic, you will receive two free bonuses and they are the following:

    • Bonus #1 – Anti-Aging Blueprint: This bonus is an e-book in which you can discover breakthrough methods that can boost your energy levels and make you feel and look younger than your real age.
    • Bonus #2 – Sleep The Fat Off: The second bonus is also an e-book that will tell you about a unique meal timing method that is proven to support healthy weight loss in the body.
    • Bonus #3 – Energy-Boosting Smoothies: The third bonus is an e-book that consists of recipes for energy-boosting smoothies which will help you stay fuller for a longer period of time.

    Does Nagano Lean Body Tonic Have A Money-Back Guarantee?

    Nagano Lean Body Tonic is supported by a money-back guarantee that is valid for 180 days from the date of purchase. Therefore, if you don’t receive the expected weight loss results from the supplement, you have the option to get a refund from the manufacturer if you contact the manufacturer within 180 days from the date of purchase.

    You can contact the manufacturer of Nagano Lean Body Tonic at support@leanbodytonic.com 

    Final Verdict On Nagano Lean Body Tonic Reviews

    Let’s now conclude this Nagano Lean Body Tonic review by taking a quick look at everything we have analyzed and discussed. Nagano Lean Body Tonic is a natural dietary supplement made to initiate healthy weight loss in the body. The formula works by boosting your body’s metabolism which will burn excess fat in the body for energy production.

    Besides weight loss, the supplement also increases energy levels, improving gut health, enhancing skin health, and so on. The supplement is made in an FDA-registered and GMP-certified lab facility in the United States which shows that the supplement is manufactured the right way. It does not contain any kind of harmful substances and works safely without causing any side effects.

    The supplement can give you long-lasting results within three to six months of use. Nagano Lean Body Tonic is an affordable supplement that is offered on the official website at reasonable prices. The manufacturer offers three free bonuses with the supplement that can help in improving your overall health.

    Furthermore, the supplement is backed by a money-back guarantee which ensures that investing money in the supplement is entirely risk-free. So all in all, Nagano Lean Body Tonic seems to be a supplement that is worth trying out.

    Click Here To Purchase Nagano Tonic From Its Official Website (180-day Money-Back Guarantee)

    Frequently Asked Questions (FAQs)

    • Are there any side effects with Nagano Lean Body Tonic?

    Most users experience no side effects. The natural ingredients are gentle, but individual reactions may vary. If discomfort occurs, consult a healthcare professional.

    • How long before I see results from Nagano Lean Body Tonic?

    Results vary, but many users notice changes within 2-3 weeks. For optimal results, use it consistently for 3-6 months, along with a healthy diet and exercise.

    • Can I take Nagano Lean Body Tonic with other supplements or medications?

    It’s best to consult a healthcare provider before combining it with other supplements or medications, especially if you are on prescriptions.

    • Why are the ingredients in Nagano Lean Body Tonic effective for weight loss?

    Ingredients like EGCG and Momordica Charantia boost metabolism and promote fat burning, helping support healthy weight loss.

    • Is Nagano Lean Body Tonic safe for long-term use?

    Yes, it’s safe for long-term use as it contains natural ingredients, but it’s always good to monitor your body’s response and consult a doctor if needed.

    Disclaimer: The statements made regarding Nagano Lean Body Tonic have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease. Results may vary from person to person. Always consult a licensed healthcare provider before starting any new supplement, especially if you have underlying health conditions or are taking prescribed medications.

    This content is for informational purposes only and should not be interpreted as medical advice. Some of the links in this article may be affiliate links, which means we may earn a small commission if you choose to purchase through them. Always prioritize guidance from your healthcare professional when making decisions about your health or wellness routine.

    Email: support@leanbodytonic.com

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/fc110417-9765-4af1-b923-063fdbb99ca6

    https://www.globenewswire.com/NewsRoom/AttachmentNg/5c46d641-61b5-4851-b604-1bc4cbe42bf0

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4c5fa20d-58c6-4faf-8189-1aa65b50e0cf

    The MIL Network

  • MIL-OSI United Kingdom: NDA celebrates 20-year partnership with Site Stakeholder Groups

    Source: United Kingdom – Executive Government & Departments

    News story

    NDA celebrates 20-year partnership with Site Stakeholder Groups

    The Nuclear Decommissioning Authority is celebrating its unique 20-year relationship with nuclear communities.

    NDA Group CEO David Peattie speaking at the NDA Stakeholder Summit 2024

    The Nuclear Decommissioning Authority (NDA) is celebrating its unique 20-year relationship with nuclear communities with a series of special local events and a blueprint for refreshing the relationship, fit for the future.

    Site Stakeholder Groups (SSGs) were created at NDA sites in response to the Energy Act 2004, giving communities a platform to scrutinise the organisation’s work and ensure two-way dialogue between local residents and the nuclear industry.

    The NDA is responsible for decommissioning the UK’s earliest nuclear sites safely, securely and sustainably, leaving a positive legacy for future generations. So, engaging with the communities around its sites about how it carries out this nationally important mission is crucial to its licence to operate.

    Led by elected community volunteers independent of the NDA, the SSGs have played a vital role in shaping NDA strategy and have provided a valuable sounding board on a wide range of issues.

    NDA Group Chief Executive, David Peattie, paid tribute to the work of the SSGs and the spirit of community volunteerism over the past 20 years, saying:

    Our nuclear communities are the foundation on which much of our work in cleaning up the UK’s nuclear legacy is built. The commitment in time and effort of our SSG chairs and vice-chairs has been considerable in representing the viewpoints of their communities.

    We’re marking our 20th anniversary of this unique relationship and I would like to use this opportunity to pay tribute to the work of our community representatives and look forward to continuing dialogue and increasing understanding of our mission.

    To mark the 20th anniversary, the NDA is inviting members from all 14 SSGs around the UK to meetings showcasing the progress made over the last two decades and looking ahead to the future of its nuclear sites.

     There is also work ongoing in partnership with the communities to review and update best practice guidelines for how the groups operate and engage with the NDA, in line with modern communication requirements.

    John McNamara, NDA Director of Communities and Stakeholder Engagement, has been involved with SSGs since their inception. He said:

    Our Site Stakeholder Groups are revered internationally as best practice when it comes to independent scrutiny by communities of the nuclear industry. They have often been cited by organisations such as the IAEA, the US Energy Department and industry colleagues in many countries including Canada, France, and Japan as a blueprint for how communities should interact and hold the nuclear industry to account.

    I’ve worked with these volunteers for many years, and I’m constantly reminded of the terrific job they do. Their commitment benefits the NDA every bit as much as it does the local residents they serve.

    Cllr Aled Morris Jones, Chair of the National SSG Forum which represents the views of NDA nuclear communities, said:

    The SSGs are a crucial supporting pillar of effective local stakeholder engagement which gives the NDA its social licence to operate.

    Our role as an informed ‘critical friend’ ensures the NDA understands the key issues and perspectives within our communities and that our voices are heard as we scrutinise and comment on their work plans and how they go about their business.

    We’ve demonstrated our value during the past 20 years, and we remain committed to continuing to serve our communities as decommissioning continues over the coming decades.

    The NDA’s 20th Anniversary roadshow will visit all NDA sites, from Dungeness on the Kent coast and up to Dounreay on the north coast of Scotland – and all points in-between.

    The review of the SSGs was carried out with wide-ranging input from communities and other stakeholders including the nuclear regulators and local authorities. Recommendations set to be implemented include:

    • Updated NDA guidance for SSGs to provide more support for community volunteers
    • More regular meetings between SSG chairs and the NDA to provide more industry context and consider best practice suggestions
    • Standardisation of documents and websites
    • Assistance to allow SSGs to communicate more widely in their communities
    • Using technology to facilitate more virtual online and hybrid meetings, using evenings too to make it easier for more people to attend
    • Formulating an outreach plan to attract more diversity to SSG meetings

    If you would like to read the updated Guidance or are interested in attending an SSG meeting, please visit the SSG website: Site Stakeholder Groups – Home.

    Updates to this page

    Published 6 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: Students and scientists discussed modern technologies and energy economics

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    Students, postgraduates, young scientists and researchers from leading technical universities took part in the VIII annual international scientific and practical conference “Modern Technologies and Energy Economics” (STEE). The event was held remotely. The organizers were Peter the Great St. Petersburg Polytechnic University, the Belarusian National Technical University and the Kazan State Power Engineering University.

    In order to develop import substitution and localization of technologies in the energy sector, it is extremely important to maintain professional contacts and exchange experience at various scientific sites in Russia and friendly countries, noted Viktor Barskov, Director of the Institute of Energy, in his welcoming speech.

    The event was attended by over 130 representatives from Russia, Belarus, Kazakhstan, Uzbekistan, Iran and other countries. Along with traditional participants – SPbPU, BNTU and KSPEU – this year specialists from industrial enterprises and organizations of Russia and the Republic of Belarus spoke.

    The conference was devoted to five thematic areas: “Economics and Management in Energy”, “Modern Aspects of Thermal and Nuclear Energy”, “Energy-Efficient Technologies”, “IT Technologies in Energy” and “Hydrogen Energy”. The moderator was Olga Novikova, Associate Professor of the Higher School of Nuclear and Thermal Energy of SPbPU.

    The scientists discussed key issues of increasing energy efficiency in mechanical engineering, implementing innovative solutions in renewable energy sources and power engineering. In addition, they considered the assessment of the environmental and economic efficiency of technologies, energy balance analysis, demand management and digitalization of energy data.

    Summing up the event, Olga Novikova suggested that the participants strengthen joint research in promising areas of energy, paying special attention to bioenergy.

    The joint work of KSPEU and SPbPU on modernization of engineering and economic education has proven its effectiveness, and we intend to intensify this cooperation, emphasized Irina Akhmetova, Vice-Rector for Development and Innovations at KSPEU.

    The Belarusian education system has preserved a unique experience in training engineers and economists, which we are ready to share. Of particular interest to us is cooperation in the field of resource-saving technologies and waste recycling, – shared the head of the BNTU department Tatyana Mantserova.

    Following the conference, about one hundred scientific articles were accepted for publication.

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

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Climate envoy visits Singapore to drive regional climate action

    Source: United Kingdom – Government Statements

    World news story

    Climate envoy visits Singapore to drive regional climate action

    The visit by UK Special Representative for Climate, Rachel Kyte, will strengthen UK-Singapore partnership and drive regional climate action and investment.

    The UK’s Special Representative for Climate, Rachel Kyte, is in Singapore on 6-7 May to strengthen UK-Singapore partnership on climate and clean investment and support greater climate ambition across Southeast Asia.

    As part of the two-day visit, Ms Kyte will speak at Ecosperity Week and the GenZero Climate Summit, where she will share lessons from the UK’s decarbonisation journey, engage on opportunities to catalyse investment and technical assistance in green growth across Southeast Asia, and together with partners drive development of carbon markets.

    The visit underscores the UK’s renewed commitment to international climate leadership. While here, Ms Kyte will hold meetings with Climate Ambassador Ravi Menon, as well as representatives from GenZero, Temasek, and Singapore’s Energy Market Authority to deepen collaboration on areas such as energy connectivity and carbon markets under the UK-Singapore Green Economy Framework (UKSGEF).

    Rachel Kyte, the UK’s Special Representative for Climate, said:

    Increasingly vulnerable to climate impacts, Singapore has become one of the most important hubs for financing clean growth and climate action. From carbon markets to clean tech to building resilience Singapore, like London, is leading the way. Deepening collaboration and, together, encouraging others to join with us in our ambitions for greener growth benefits everyone in our two countries and in the wider region.

    I hope that the UK-Singapore partnership can help drive demand for high integrity carbon markets that will support stronger financial flows into nature and support companies to move faster with their transition plans and managing their emissions.

    British High Commissioner to Singapore, Nikesh (Nik) Mehta, said:

    The UK and Singapore share not just a commitment to addressing climate change, but a recognition that environmental protection and economic ambition go hand in hand. Singapore is a vital strategic partner in our climate diplomacy across Southeast Asia.

    Through our UK-Singapore Green Economy Framework, we are pioneering approaches that will spur the green transition across the region, unlocking significant investment and genuine climate benefits.

    I’m confident that we will further cement our collaboration and identify exciting new areas for joint action on sustainable finance, carbon markets, and clean energy – areas where our combined expertise can make a real difference to the region’s green transition.

    Updates to this page

    Published 6 May 2025

    MIL OSI United Kingdom

  • MIL-Evening Report: As Warren Buffett prepares to retire, does his investing philosophy have a future?

    Source: The Conversation (Au and NZ) – By Angel Zhong, Professor of Finance, RMIT University

    Warren Buffett, the 94-year-old investing legend and chief executive of Berkshire Hathaway, has announced plans to step down at the end of this year.

    His departure will mark the end of an era for value investing, an investment approach built on buying quality companies at reasonable prices and holding them for the long term.

    Buffett’s approach transformed Berkshire Hathaway from a small textile business in the 1960s into a giant conglomerate now worth more than US$1.1 trillion (A$1.7 trillion).

    He built his fortune backing US industry in energy and insurance and American brands, including big stakes in household names such as Coca-Cola, American Express and Apple.

    At Berkshire’s annual meeting at the weekend, held in an arena with thousands of devoted investors, Buffett named Greg Abel as his successor.

    Abel, 62, is currently chairman and chief executive of Berkshire Hathaway Energy, as well as vice chairman of Berkshire Hathaway’s vast non-insurance operations.

    He’s known for his disciplined, no-nonsense management style. The company’s board has now voted unanimously to approve the move.

    This changing of the guard comes at a pivotal moment. Donald Trump’s return to the US presidency has already delivered significant economic policy shifts.

    Meanwhile, questions about US economic dominance grow louder against China’s continued rise.

    The ‘Oracle of Omaha’

    Few names command as much respect in the world of finance as Warren Buffett. Born in Omaha, Nebraska, in 1930, Buffett displayed an early genius for numbers and investing. He bought his first stock at age 11.

    His investment philosophy – buying undervalued companies with strong fundamentals – would later earn him the nickname the “Oracle of Omaha” for his uncanny ability to predict market trends and identify winning investments years before others did.

    Value investing

    Buffett drew his investment approach from the value investment principles of British-born US economist Benjamin Graham.

    He preferred businesses with lasting advantages and a clear value proposition. Some of his key investments included insurance company GEICO, railroad company BNSF, and more recently Chinese electric vehicle maker BYD.

    He avoided speculative bubbles (such as the dotcom bubble of the late 1990s and, more recently, cryptocurrencies) and preached long-term patience to investors. As he famously wrote in a 1988 letter to shareholders:

    In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

    Buffett’s guidance helped Berkshire navigate many economic booms and recessions. Over his six decades at the helm, the company delivered impressive compounded annual returns of almost 20% – virtually double those of the S&P 500 index.

    Beyond financial success, Buffett championed ethical business practices and pledged to donate more than 99% of his wealth through the Giving Pledge, which he cofounded with Bill Gates and Melinda French Gates.




    Read more:
    How Warren Buffett’s enormous charitable gifts reflect the ‘inner scorecard’ that has guided him up to the billionaire’s planned retirement


    Challenges to Buffett’s strategy in today’s world

    In an op-ed for the New York Times in 2008, Buffett famously shared the maxim that guides his investment decisions:

    Be fearful when others are greedy, and be greedy when others are fearful.

    But his strategy thrived in an era of increasing globalisation, free trade, and US economic supremacy. The world has shifted since Buffett’s heyday.

    There are concerns about the recent underperformance of value investing. Technology companies now dominate older industries.

    This raises questions about whether those who succeed Buffett can spot the next major industry disruptors.

    America first?

    Trump’s return as US president heralds major changes in economic policy. Trade restrictions might hurt some of Berkshire’s international investments. However, these same policies might benefit Buffett’s US-focused investments.

    The idea of US economic superiority also faces new questions. China may overtake the US economy in the 2030s. The US share of global economic output has fallen from about 22% in 1980 to about 15% today.

    Buffett’s “never bet against America” mantra faces new scrutiny.

    Warren Buffett discusses trade deficits and protectionism on May 3.

    The challenges for Buffett’s successor

    Abel inherits a company with about US$348 billion (A$539 billion) in cash. That’s a serious amount of capital to deploy wisely amid global economic uncertainty and Trump’s trade war.

    Abel will likely maintain Berkshire’s core values while updating its approach. His challenges include:

    1. Maintaining the “Buffett premium”: Abel lacks Buffett’s cult-like following among investors, which may gradually erode the additional value the market assigns to Berkshire due to Buffett’s leadership.

      Without Buffett’s reputation, Abel may face increased pressure to effectively deploy Berkshire’s massive cash pile in a still-expensive stock market, where valuations are high and finding bargains is harder than ever.

    2. Technological adaptation: while Berkshire has increased its technology investments over the years (including positions in Apple and Amazon), balancing its legacy holdings (such as Coca-Cola and railroads) with growth sectors (AI, renewables) remains challenging.

    3. Environmental concerns: Berkshire Hathaway’s heavy reliance on coal and gas-fired utilities has drawn growing criticism as investors and regulators demand cleaner energy solutions.

    4. Replicating the “golden touch”: Buffett’s genius wasn’t just in picking stocks. It was also in capital allocation, deal-making, and crisis management (for example, buying into Goldman Sachs during the global financial crisis). Can Abel replicate that?

    After Buffett

    Buffett’s principles – patience, intrinsic value and betting on America – are timeless. But the world has moved on. His successor must navigate geopolitical risks, technological disruption, and the rise of passive investing while preserving Berkshire’s unique culture.

    The post-Buffett era represents more than just a leadership change. It’s a test of whether Buffett’s principles can survive in an increasingly short-term, technology-dominated, and geopolitically complex world.

    Abel’s leadership will reveal the enduring power – or limitations – of Buffett’s philosophy.

    Angel Zhong 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. As Warren Buffett prepares to retire, does his investing philosophy have a future? – https://theconversation.com/as-warren-buffett-prepares-to-retire-does-his-investing-philosophy-have-a-future-255867

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: International Petroleum Corporation Announces First Quarter 2025 Financial and Operational Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 06, 2025 (GLOBE NEWSWIRE) — William Lundin, IPC’s President and Chief Executive Officer, comments: “We are pleased to announce another strong quarter of operational and financial performance for Q1 2025. IPC achieved an average net daily production during the quarter of 44,400 barrels of oil equivalent per day (boepd). Our results during the quarter were in line with the 2025 guidance announced at our Capital Markets Day in February as we continue to execute according to plan across our operations in Canada, Malaysia and France. Notably, the transformational Blackrod Phase 1 development project in Canada has progressed substantially during the quarter and forecast first oil is maintained with the original project sanction guidance for late 2026. We also continued with purchases of IPC common shares under the normal course issuer bid, having completed approximately 60% of the current 2024/2025 program between December 2024 to March 2025.”

    Q1 2025 Business Highlights

    • Average net production of approximately 44,400 boepd for the first quarter of 2025, within the guidance range for the period (52% heavy crude oil, 15% light and medium crude oil and 33% natural gas).(1)
    • Continued progressing Phase 1 development activity as well as future phase resource maturation works at the Blackrod asset.
    • At Onion Lake Thermal, all four planned production infill wells and the final Pad L well pair have been successfully drilled.
    • 3.9 million IPC common shares purchased and cancelled during Q1 2025 and continuing with target to complete the full 2024/2025 NCIB this year.

    Q1 2025 Financial Highlights

    • Operating costs per boe of USD 17.3 for Q1 2025, in line with guidance.(3)
    • Operating cash flow (OCF) generation of MUSD 75 for Q1 2025, in line with guidance.(3)
    • Capital and decommissioning expenditures of MUSD 99 for Q1 2025, in line with guidance.
    • Free cash flow (FCF) generation for Q1 2025 amounted to MUSD -43 (MUSD 37 pre-Blackrod capital expenditure).(3)
    • Gross cash of MUSD 140 and net debt of MUSD 314 as at March 31, 2025.(3)
    • Net result of MUSD 16 for Q1 2025.

    Reserves and Resources

    • Total 2P reserves as at December 31, 2024 of 493 MMboe, with a reserve life index (RLI) of 31 years.(1)(2)
    • Contingent resources (best estimate, unrisked) as at December 31, 2024 of 1,107 MMboe.(1)(2)
    • 2P reserves net asset value (NAV) as at December 31, 2024 of MUSD 3,083 (10% discount rate).(1)(2)

    2025 Annual Guidance

    • Full year 2025 average net production guidance range forecast maintained at 43,000 to 45,000 boepd.(1)
    • Full year 2025 operating costs guidance range forecast maintained at USD 18 to 19 per boe.(3)
    • Full year 2025 OCF revised guidance estimated at between MUSD 240 and 270 (assuming Brent USD 60 to 75 per barrel for the remainder of 2025) from previous guidance of between MUSD 210 and 280 (assuming Brent USD 65 to 85 per barrel).(3)(4)
    • Full year 2025 capital and decommissioning expenditures guidance forecast maintained at MUSD 320.
    • Full year 2025 FCF revised guidance estimated at between MUSD -135 and -110 (assuming Brent USD 60 to 75 per barrel for the remainder of 2025) from previous guidance of between MUSD -150 and -80 (assuming Brent USD 65 to 85 per barrel), after taking into account MUSD 230 of forecast full year 2025 capital expenditures relating to the Blackrod asset.(3)(4)
      Three months ended March 31
    USD Thousands 2025 2024
    Revenue 178,492   206,419  
    Gross profit 44,149   55,184  
    Net result 16,231   33,719  
    Operating cash flow(3) 74,790   89,301  
    Free cash flow(3) (43,172)   (43,311)  
    EBITDA(3) 70,946   87,020  
    Net cash/(debt)(3) (314,255)   (60,572)  
             

    During the first quarter of 2025, oil prices were relatively stable, with Brent prices averaging just below USD 76 per barrel. Following the quarter, commodity prices pulled back with spot Brent rates falling to USD 60 per barrel in April 2025. The physical crude market remained tight throughout the first quarter, prompting OPEC and the OPEC+ group to increase supply ahead of expectations. The timing of the supply increases coincided with the United States proposing harsh tariffs to countries deemed in a trade surplus of US goods. These two events have impacted future crude supply and demand outlooks, in turn weighing on spot and future oil benchmark prices. Despite the poor market sentiment, global inventories remain below the 5-year average, high geopolitical tensions persist, non-OPEC 2025 oil production (namely, in the US) is unlikely to grow at current prices, and US Federal Reserve Bank rate cuts are likely to occur in the near future. IPC prudently supplemented downside protection measures at the beginning of the first quarter of 2025 through financial swap hedging arrangements which in total represent nearly 40% of our forecast 2025 oil production at around USD 76 and USD 71 per barrel for Dated Brent and West Texas Intermediate (WTI), respectively, for the remainder of 2025.

    In Canada, WTI to Western Canadian Select (WCS) crude price differentials during the first quarter of 2025 averaged just under USD 13 per barrel, with spot differentials decreasing to around USD 9 per barrel in April 2025. The Western Canadian Sedimentary Basin (WCSB) petroleum producers have greatly benefited from the TMX pipeline expansion with differentials tightening to levels not seen since 2020. There are currently no tariffs on Canadian crude exports to the United States, which remain covered by the US Mexico Canada free trade agreement. IPC has hedged the WTI/WCS differential for approximately 50% of our forecast 2025 Canadian oil production at USD 14 per barrel for 2025.

    Natural gas markets in Canada for the first quarter of 2025 remained weak, given the softer than average winter weather conditions and high natural gas storage levels. The average AECO gas price was CAD 2.1 per Mcf for the first quarter of 2025. The forward strip implies improved pricing for Canadian gas benchmark prices, driven by the pending startup of the West Coast LNG Canada project later this year. Approximately 50% of our net long exposure is hedged at CAD 2.4 per Mcf to end October 2025, dropping to around 15% for November and December at CAD 2.6 per mcf.

    First Quarter 2025 Highlights and Full Year 2025 Guidance

    During the first quarter of 2025, our portfolio delivered average net production of 44,400 boepd, in line with guidance. Operational performance from our producing assets was strong to start the year as high facility and well uptimes were achieved. Drilling activity commenced in the first quarter of 2025 at Onion Lake Thermal, which aims to sustain production levels at the asset for 2025. In Malaysia, drilling and well maintenance works are planned to start in the second quarter of 2025, in line with plan. We maintain the full year 2025 average net production guidance range of 43,000 to 45,000 boepd.(1)

    Our operating costs per boe for the first quarter of 2025 was USD 17.3, in line with guidance. Full year 2025 operating expenditure guidance of USD 18.0 to 19.0 per boe remains unchanged.(3)

    Operating cash flow (OCF) generation for the first quarter of 2025 was MUSD 75. Full year 2025 OCF guidance is tightened to MUSD 240 to 270 (assuming Brent USD 60 to 75 per barrel for the remainder of 2025).(3)(4)

    Capital and decommissioning expenditure for the first quarter of 2025 was MUSD 99 in line with guidance. Full year 2025 capital and decommissioning expenditure of MUSD 320 is maintained.

    Free cash flow (FCF) generation was MUSD -43 (MUSD 37 pre-Blackrod capital expenditure) during the first quarter of 2025. Full year 2025 FCF guidance is tightened to MUSD -135 to -110 (assuming Brent USD 60 to 75 per barrel for the remainder of 2025) after taking into account MUSD 320 of forecast full year 2025 capital expenditures (including MUSD 230 relating to the Blackrod asset).(3)(4)

    As at March 31, 2025, IPC’s net debt position was MUSD 314, from a net debt position of MUSD 209 as at December 31, 2024, mainly driven by the funding of forecast capital expenditures and the continuing share repurchase program (NCIB). Gross cash on the balance sheet as at March 31, 2025 amounts to MUSD 140 and IPC has access to an undrawn Canadian credit facility of greater than 130 MUSD. The access to liquidity supports IPC to follow through on its key strategic objectives of enhancing stakeholder value through organic growth, stakeholder returns, and pursuing value adding M&A.(3)

    Blackrod

    During the first quarter of 2025, IPC continued to advance the Phase 1 development of the Blackrod asset. Growth capital expenditure to first oil is maintained at MUSD 850. First oil of the Phase 1 development is estimated to be in late 2026, with forecast net production of 30,000 boepd by 2028. IPC forecasts capital expenditure in 2025 at the Blackrod asset of MUSD 230, of which MUSD 77 was invested in the Phase 1 development project during Q1 2025. Since the transformational organic growth project was sanctioned in early 2023, MUSD 669, or approximately 80% of the total multi-year project capital budget, has been incurred.(1)

    Project activities for the multi-year Blackrod Phase 1 development have progressed according to plan. Engineering, procurement and fabrication is substantially complete with greater than 90% of all facility modules delivered to site. Equipment installation, piping inter-connects, electrical and instrumentation are the key areas of focus for construction at the Central Processing Facility (CPF) and well pad facilities.

    Resource maturation drilling for future phase expansion considerations took place during Q1 2025. Commercial operational readiness planning has ramped up in line with our progressive turnover strategy to ensure a seamless transition from build to start-up. IPC intends to fund the remaining Blackrod capital expenditure with forecast cash flow generated by its operations, cash on hand and drawing under the existing Canadian credit facility if needed.(3)

    Stakeholder Returns: Normal Course Issuer Bid

    In Q4 2024, IPC announced the renewal of the NCIB, with the ability to repurchase up to approximately 7.5 million common shares over the period of December 5, 2024 to December 4, 2025. Under the 2024/2025 NCIB, IPC repurchased and cancelled approximately 0.8 million common shares in December 2024, 3.7 million common shares during Q1 2025, and a further 0.2 million common shares purchased under other exemptions in Canada. The average price of common shares purchased under the 2024/2025 NCIB during Q1 2025 was SEK 146 / CAD 20 per share.

    As at March 31, 2025, IPC had a total of 115,176,514 common shares issued and outstanding and IPC held no common shares in treasury. As at April 30, 2025, IPC had a total of 114,248,119 common shares issued and outstanding and IPC held no common shares in treasury.

    Notwithstanding the final major capital investment year at Blackrod in 2025, IPC had purchased and cancelled 73% of the maximum 7.5 million common shares allowed under the 2024/2025 NCIB by the end of April 2025 and intends to purchase and cancel the remaining 2.0 million common shares under that program in 2025. This would result in the cancellation of 6.2% of common shares outstanding as at the beginning of December 2024. IPC continues to believe that reducing the number of shares outstanding in combination with investing in long-life production growth at the Blackrod project will prove to be a winning formula for our stakeholders.

    Environmental, Social and Governance (ESG) Performance

    During the first quarter of 2025, IPC recorded no material safety or environmental incidents.

    As previously announced, IPC targets a reduction of our net GHG emissions intensity by the end of 2025 to 50% of IPC’s 2019 baseline and IPC remains on track to achieve this reduction. IPC has also made a commitment to maintain 2025 levels of 20 kg CO2/boe through to the end of 2028.(5)

    Notes:

      (1) See “Supplemental Information regarding Product Types” in “Reserves and Resources Advisory” below. See also the annual information form for the year ended December 31, 2024 (AIF) available on IPC’s website at www.international-petroleum.com and under IPC’s profile on SEDAR+ at www.sedarplus.ca.
      (2) See “Reserves and Resources Advisory“ below. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of net present value (NPV), are described in the AIF. NAV is calculated as NPV less net debt of USD 209 million as at December 31, 2024.
      (3) Non-IFRS measures, see “Non-IFRS Measures” below and in the MD&A.
      (4) OCF and FCF forecasts at Brent USD 60 and 70 per barrel assume Brent to WTI differential of USD 3 and 5 per barrel, respectively, and WTI to WCS differential of USD 10 and 15 per barrel, respectively, for the remainder of 2025. OCF and FCF forecasts assume gas price on average of CAD 2.25 per Mcf for the remainder of 2025.
      (5) Emissions intensity is the ratio between oil and gas production and the associated carbon emissions, and net emissions intensity reflects gross emissions less operational emission reductions and carbon offsets.
         

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50
    Or Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15
         

    This information is information that International Petroleum Corporation is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07:30 CEST on May 6, 2025. The Corporation’s unaudited interim condensed consolidated financial statements (Financial Statements) and management’s discussion and analysis (MD&A) for the three months ended March 31, 2025 have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Corporation’s website (www.international-petroleum.com).

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    Forward-looking statements include, but are not limited to, statements with respect to:

    • 2025 production ranges (including total daily average production), production composition, cash flows, operating costs and capital and decommissioning expenditure estimates;
    • Estimates of future production, cash flows, operating costs and capital expenditures that are based on IPC’s current business plans and assumptions regarding the business environment, which are subject to change;
    • IPC’s financial and operational flexibility to navigate the Corporation through periods of volatile commodity prices;
    • The ability to fully fund future expenditures from cash flows and current borrowing capacity;
    • IPC’s intention and ability to continue to implement its strategies to build long-term shareholder value;
    • The ability of IPC’s portfolio of assets to provide a solid foundation for organic and inorganic growth;
    • The continued facility uptime and reservoir performance in IPC’s areas of operation;
    • Development of the Blackrod project in Canada, including estimates of resource volumes, future production, timing, regulatory approvals, third party commercial arrangements, breakeven oil prices and net present values;
    • Current and future production performance, operations and development potential of the Onion Lake Thermal, Suffield, Brooks, Ferguson and Mooney operations, including the timing and success of future oil and gas drilling and optimization programs;
    • The potential improvement in the Canadian oil egress situation and IPC’s ability to benefit from any such improvements;
    • The ability to maintain current and forecast production in France and Malaysia;
    • The intention and ability of IPC to acquire further Common Shares under the NCIB, including the timing of any such purchases;
    • The return of value to IPC’s shareholders as a result of the NCIB;
    • IPC’s ability to implement its greenhouse gas (GHG) emissions intensity and climate strategies and to achieve its net GHG emissions intensity reduction targets;
    • IPC’s ability to implement projects to reduce net emissions intensity, including potential carbon capture and storage;
    • Estimates of reserves and contingent resources;
    • The ability to generate free cash flows and use that cash to repay debt;
    • IPC’s continued access to its existing credit facilities, including current financial headroom, on terms acceptable to the Corporation;
    • IPC’s ability to identify and complete future acquisitions;
    • Expectations regarding the oil and gas industry in Canada, Malaysia and France, including assumptions regarding future royalty rates, regulatory approvals, legislative changes, tariffs, and ongoing projects and their expected completion; and
    • Future drilling and other exploration and development activities.

    Statements relating to “reserves” and “contingent resources” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and that the reserves and resources can be profitably produced in the future. Ultimate recovery of reserves or resources is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

    The forward-looking statements are based on certain key expectations and assumptions made by IPC, including expectations and assumptions concerning: the potential impact of tariffs implemented in 2025 by the U.S. and Canadian governments and that other than the tariffs that have been implemented, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; prevailing commodity prices and currency exchange rates; applicable royalty rates and tax laws; interest rates; future well production rates and reserve and contingent resource volumes; operating costs; our ability to maintain our existing credit ratings; our ability to achieve our performance targets; the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the successful completion of acquisitions and dispositions and that we will be able to implement our standards, controls, procedures and policies in respect of any acquisitions and realize the expected synergies on the anticipated timeline or at all; the benefits of acquisitions; the state of the economy and the exploration and production business in the jurisdictions in which IPC operates and globally; the availability and cost of financing, labour and services; our intention to complete share repurchases under our normal course issuer bid program, including the funding of such share repurchases, existing and future market conditions, including with respect to the price of our common shares, and compliance with respect to applicable limitations under securities laws and regulations and stock exchange policies; and the ability to market crude oil, natural gas and natural gas liquids successfully.

    Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

    These include, but are not limited to: general global economic, market and business conditions; the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; innovation and cybersecurity risks related to our systems, including our costs of addressing or mitigating such risks; the ability to attract, engage and retain skilled employees; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; geopolitical conflicts, including the war between Ukraine and Russia and the conflict in the Middle East, and their potential impact on, among other things, global market conditions; political or economic developments, including, without limitation, the risk that (i) one or both of the U.S. and Canadian governments increases the rate or scope of tariffs implemented in 2025, or imposes new tariffs on the import of goods from one country to the other, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed by the U.S. on other countries and responses thereto could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Corporation; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations. Readers are cautioned that the foregoing list of factors is not exhaustive.

    Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in the MD&A (See “Risk Factors”, “Cautionary Statement Regarding Forward-Looking Information” and “Reserves and Resources Advisory”), the Corporation’s Annual Information Form (AIF) for the year ended December 31, 2024, (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

    Management of IPC approved the production, operating costs, operating cash flow, capital and decommissioning expenditures and free cash flow guidance and estimates contained herein as of the date of this press release. The purpose of these guidance and estimates is to assist readers in understanding IPC’s expected and targeted financial results, and this information may not be appropriate for other purposes.

    Estimated production and FCF generation are based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, less net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the AIF. IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts.

    Non-IFRS Measures
    References are made in this press release to “operating cash flow” (OCF), “free cash flow” (FCF), “Earnings Before Interest, Tax, Depreciation and Amortization” (EBITDA), “operating costs” and “net debt”/”net cash”, which are not generally accepted accounting measures under International Financial Reporting Standards (IFRS) and do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable with similar measures presented by other public companies. Non-IFRS measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

    The definition of each non-IFRS measure is presented in IPC’s MD&A (See “Non-IFRS Measures” therein).

    Operating cash flow
    The following table sets out how operating cash flow is calculated from figures shown in the Financial Statements:

      Three months ended March 31
    USD Thousands 2025   2024  
    Revenue 178,492   206,419  
    Production costs and net sales of diluent to third party 1 (103,188)   (115,745)  
    Current tax (514)   (1,373)  
    Operating cash flow 74,790   89,301  

    1Includes net sales of diluent to third party amounting to USD 191 thousand for the first quarter of 2025.

    Free cash flow
    The following table sets out how free cash flow is calculated from figures shown in the Financial Statements:

      Three months ended March 31
    USD Thousands 2025   2024  
    Operating cash flow – see above 74,790   89,301  
    Capital expenditures (98,886)   (125,256)  
    Abandonment and farm-in expenditures1 (321)   (122)  
    General, administration and depreciation expenses before depreciation2 (4,358)   (3,653)  
    Cash financial items3 (14,397)   (3,581)  
    Free cash flow (43,172)   (43,311)  

    1 See note 16 to the Financial Statements
    2 Depreciation is not specifically disclosed in the Financial Statements
    3 See notes 4 and 5 to the Financial Statements

    EBITDA
    The following table sets out the reconciliation from net result from the consolidated statement of operations to EBITDA:

      Three months ended March 31
    USD Thousands 2025   2024  
    Net result 16,231   33,719  
    Net financial items 18,855   9,770  
    Income tax 4,679   7,746  
    Depletion and decommissioning costs 29,016   33,153  
    Depreciation of other tangible fixed assets 1,917   2,262  
    Exploration and business development costs 31   75  
    Sale of assets 1 (94)    
    Depreciation included in general, administration and depreciation expenses 2 311   295  
    EBITDA 70,946   87,020  

    1 Sale of assets is included under “Other income/(expense)” but not specifically disclosed in the Financial Statements
    2 Item is not shown in the Financial Statements

    Operating costs
    The following table sets out how operating costs is calculated:

      Three months ended March 31
    USD Thousands 2025   2024  
    Production costs 103,379   115,745  
    Cost of blending (37,726)   (45,206)  
    Change in inventory position 3,500   5,277  
    Operating costs 69,153   75,816  
             

    Net cash/(debt)
    The following table sets out how net cash / (debt) is calculated from figures shown in the Financial Statements:

    USD Thousands March 31, 2025   December 31, 2024
    Bank loans (4,449)   (5,121)  
    Bonds1 (450,000)   (450,000)  
    Cash and cash equivalents 140,194   246,593  
    Net cash/(debt) (314,255)   (208,528)  

    1 The bond amount represents the redeemable value at maturity (February 2027).

    Reserves and Resources Advisory
    This press release contains references to estimates of gross and net reserves and resources attributed to the Corporation’s oil and gas assets. For additional information with respect to such reserves and resources, refer to “Reserves and Resources Advisory” in the MD&A. Light, medium and heavy crude oil reserves/resources disclosed in this press release include solution gas and other by-products. Also see “Supplemental Information regarding Product Types” below.

    Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in Canada are effective as of December 31, 2024, and are included in the reports prepared by Sproule Associates Limited (Sproule), an independent qualified reserves evaluator, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and using Sproule’s December 31, 2024 price forecasts.

    Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in France and Malaysia are effective as of December 31, 2024, and are included in the report prepared by ERC Equipoise Ltd. (ERCE), an independent qualified reserves auditor, in accordance with NI 51-101 and the COGE Handbook, and using Sproule’s December 31, 2024 price forecasts.

    The price forecasts used in the Sproule and ERCE reports are available on the website of Sproule (sproule.com) and are contained in the AIF. These price forecasts are as at December 31, 2024 and may not be reflective of current and future forecast commodity prices.

    The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd.

    IPC uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). A BOE conversion ratio of 6:1 is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value.

    Supplemental Information regarding Product Types

    The following table is intended to provide supplemental information about the product type composition of IPC’s net average daily production figures provided in this press release:

             
      Heavy Crude Oil
    (Mbopd)
    Light and Medium Crude
    Oil (Mbopd)
    Conventional Natural Gas
    (per day)
    Total
    (Mboepd)
    Three months ended        
    March 31, 2025 23.2 6.5 88.2 MMcf
    (14.7 Mboe)
    44.4
    March 31, 2024 24.9 7.9 96.0 MMcf
    (16.0 Mboe)
    48.8
    Year ended        
    December 31, 2024 23.9 7.7 95.1 MMcf
    (15.8 Mboe)
    47.4
             

    This press release also makes reference to IPC’s forecast total average daily production of 43,000 to 45,000 boepd for 2025. IPC estimates that approximately 52% of that production will be comprised of heavy oil, approximately 15% will be comprised of light and medium crude oil and approximately 33% will be comprised of conventional natural gas.

    Currency
    All dollar amounts in this press release are expressed in United States dollars, except where otherwise noted. References herein to USD mean United States dollars and to MUSD mean millions of United States dollars. References herein to CAD mean Canadian dollars.

    The MIL Network

  • MIL-OSI: Viridien secures sale of Sercel Marlin Offshore Logistics solution to ONGC

    Source: GlobeNewswire (MIL-OSI)

    Paris, France – May 6, 2025

    Viridien has announced a sale of its state-of-the art Sercel Marlin™ Offshore Logistics management solution to Oil and Natural Gas Corporation (ONGC) to enhance operational efficiency and safety across its Western offshore E&P operations in India. The sale includes a five-year contract to provide ONGC with dedicated on-premises Sercel software and support services.

    The Sercel Marlin Offshore Logistics solution will digitize and streamline ONGC’s complex offshore E&P logistics, increasing situational awareness through real-time vessel tracking and boosting efficiency in operational planning while also managing helicopter transit. Seamless integration with ONGC’s market-leading ERP systems will also ensure efficient data exchange and decision-making. Additionally, Marlin’s advanced artificial intelligence (AI) and machine learning (ML) algorithms will future-proof ONGC’s operations by further enhancing operational efficiency and planning. All of this will support ONGC’s vision to deliver business excellence and achieve their carbon neutrality objectives.

    Jérôme Denigot, EVP, Sensing & Monitoring, Viridien, said: “We are proud to support ONGC’s digitalization strategy with our Sercel Marlin Offshore Logistics solution. Tailored for both cloud-based and on-premises deployment, it offers unparalleled flexibility to accommodate a client’s diverse infrastructure needs. This award widens our footprint in India’s offshore energy sector and opens up future growth opportunities for our Sercel software solutions in the region. This latest collaboration strengthens our position as a leading provider of operations and logistics software for the energy industry and beyond.”

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,400 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Contacts

    Attachment

    The MIL Network

  • MIL-OSI: Report for the three months ended 31 March 2025

    Source: GlobeNewswire (MIL-OSI)

    Highlights

    • Power generation amounted to 251 GWh for the first quarter 2025, being at the lower end of the outlook range, mainly as a result of weather impact and production curtailments related to the provision of ancillary services, for which the Company receives compensation.
    • Reached the ready-to-permit milestone and launched a sales process for a 98 MW solar project in Germany.
    • Reached the ready-to-permit milestone on a second solar and battery project in the UK, bringing the total volume of ready-to-permit projects to 2.5 GW, with the sales process awaiting the conclusion of the ongoing grid connections reform.

    Consolidated financials

    • Cash flows from operating activities amounted to MEUR 0.6.

    Proportionate financials

    • Achieved electricity price amounted to EUR 40 per MWh, which resulted in a proportionate EBITDA of MEUR 0.4.
    • Proportionate net debt of MEUR 68.6, with significant liquidity headroom available through the MEUR 170 revolving credit facility.

    Financial Summary

    Orrön Energy owns renewables assets directly and through joint ventures and associated companies and is presenting proportionate financials in addition to the consolidated financial reporting under IFRS to show the net ownership and related results of these assets. The purpose of the proportionate reporting is to give an enhanced insight into the Company’s operational and financial results.

    Financial performance   Q1
    MEUR   2025 2024
    Revenue   9.3 12.3
    EBITDA   – 0.9 3.1
    Operating profit (EBIT)   – 5.2 – 1.0
    Net result   – 4.0 – 2.6
    Earnings per share – EUR   – 0.01 – 0.01
    Earnings per share diluted – EUR   – 0.01 – 0.01
    Alternative performance measures      
    Proportionate financials1      
    Power generation (GWh)   251 274
    Average price achieved per MWh – EUR   40 49
    Operating expenses per MWh – EUR   20 15
    Revenue   10.1 13.5
    EBITDA   0.4 5.1
    Operating profit (EBIT)   – 4.9
    1 Proportionate financials represent Orrön Energy’s proportionate ownership (net) of assets and related financial results, including joint ventures.
    For more details see section Key Financial Data in the Q1 Report 2025.

    Comment from Daniel Fitzgerald, CEO of Orrön Energy
    “Our greenfield platform is now well established after two years of investment, recruitment and project delivery. We have launched our first sales process in Germany for a 98 MW agri-PV project, and have around 2.5 GW of solar and battery projects in the UK at the ready-to-permit stage awaiting a final resolution from the ongoing grid connections reform. Over the course of 2025 and 2026, we expect to start monetising the first of these projects and I look forward to seeing the results of the hard work and dedication of the teams creating these opportunities. Our UK projects are amongst some of the largest solar projects in the country to date, and will make a significant contribution to the UK government’s ambition to reach net zero through renewable investment and decarbonisation of the power systems. The UK grid connections reform is still underway, and we expect to receive feedback during the fall of 2025, after which we expect to resume our sales process. It is unfortunate that the reform was launched mid-way through our sales process, and although we will see a delay, the value and interest from investors remains strong, as does the UK government’s support for projects such as ours. We expect to share more details on the outcome of the ongoing reform and our progress later this year.

    Our proportionate power generation in the first quarter amounted to 251 GWh, which was at the lower end of our outlook range, primarily due to weather conditions and curtailments linked to the ancillary services provided at our MLK windfarm. We are actively working to qualify additional sites for ancillary services, where we receive compensation when activated. This, alongside voluntary curtailments during periods of low electricity pricing, forms part of a broader set of measures we introduced last year to optimise our revenues and mitigate the ongoing volatility in power markets. Nordic electricity markets remain challenging with low prices and high volatility, and we are seeing that impact not only in our business, but across the sector with very few new renewable energy projects sanctioned.

    Financially resilient
    We remain in a strong financial position, with MEUR 100 of liquidity headroom, and have the ability to manage the pace of our investments as markets evolve. Proportionate revenues and other income for the quarter amounted to MEUR 10.2, and proportionate EBITDA was MEUR 0.4, reflecting the impact of electricity prices during the quarter. Project sales from our greenfield portfolio are expected to commence during the course of this year which should lead to a positive impact on our financial results and EBITDA. Our cost base will further reduce following the conclusion of the Sudan trial in the second quarter of 2026, strengthening our financial position going forward. Electricity prices are set to remain volatile, and future revenues from power sales will remain subject to the underlying Nordic electricity prices, which have been at sustained low levels for the last quarters. I expect to see this improve in the medium term given the lack of new power generation being built, especially in Sweden.

    Looking ahead
    The Company is continuing to deliver in line with our strategy to build a portfolio of producing assets and a pipeline of large-scale greenfield projects. We are making good progress on all fronts with optimisation and consolidation in our producing asset base and continued maturation in our project pipeline. We are supported by a highly skilled and committed team in the Nordics, and a dynamic development team driving our greenfield growth in the UK, Germany and France.

    The long-term outlook for renewable energy remains robust, underpinned by strong policy support, increasing electrification, and growing demand for low-carbon solutions across Europe. As we are investing in onshore technologies with the lowest breakeven price, I am confident that our portfolio is well positioned to deliver long-term value in this space and provide a much-needed new supply of low-cost energy to society. European electricity prices, especially in Germany and the UK, remain at elevated levels, well above the breakeven cost for new renewable projects to be sanctioned, which stands our greenfield portfolio in good shape for delivering long-term returns.

    I would like to once again thank our shareholders for your continued support, and look forward to further updates during 2025.”

    Webcast
    Listen to Daniel Fitzgerald, CEO and Espen Hennie, CFO commenting on the report and presenting the latest developments in Orrön Energy and its future growth strategy at a webcast today at 14.00 CEST. The presentation will be followed by a question-and-answer session.

    Follow the presentation live on the below webcast link:
    https://orron-energy.events.inderes.com/q1-report-2025

    For further information, please contact:

    Robert Eriksson
    Corporate Affairs and Investor Relations
    Tel: +46 701 11 26 15
    robert.eriksson@orron.com

    Jenny Sandström
    Communications Lead
    Tel: +41 79 431 63 68
    jenny.sandstrom@orron.com

    Orrön Energy is an independent, publicly listed (Nasdaq Stockholm: “ORRON”) renewable energy company within the Lundin Group of Companies. Orrön Energy’s core portfolio consists of high quality, cash flow generating assets in the Nordics, coupled with greenfield growth opportunities in the Nordics, the UK, Germany, and France. With financial capacity to fund further growth and acquisitions, and backed by a major shareholder, management and Board with a proven track record of investing into, leading and growing highly successful businesses, Orrön Energy is in a unique position to create shareholder value through the energy transition.

    Forward-looking statements
    Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise.

    Attachment

    The MIL Network

  • MIL-OSI USA: DOE Halts Fossil Fuel Ban for Federal Buildings

    Source: US Department of Energy

    WASHINGTON — The Department of Energy (DOE) today announced it has delayed the compliance date for new provisions regarding Clean Energy for New Federal Buildings and Major Renovations of Federal Buildings (CER). This action delays the restrictive standards imposed by the previous administration to limit the use of affordable, reliable energy sources, such as coal and natural gas, to power federal buildings in favor of less reliable, more expensive options.

    “Under President Trump’s leadership, the Department of Energy is embracing a strategy of energy addition – leveraging all sources that are affordable, reliable and secure. This pause will ensure that our federal buildings are able to utilize the most efficient power available, lowering costs and reducing regulatory overreach,” said U.S. Secretary of Energy Chris Wright.

    The original regulations, issued on May 1, 2024, required certain new federal buildings and federal buildings undergoing major renovations to reduce their fossil fuel-generated energy consumption. The delay is being implemented while DOE reviews recently released implementation guidance and a template for petitions for downward adjustments. DOE is undertaking this review to ensure alignment with the current Administration’s energy policies, particularly those relating to energy security and reliability.

    Today’s action delays the compliance date for one year. During this period, federal agencies are not required to comply with the energy performance standards outlined in the aforementioned regulations. DOE will not process petitions for downward adjustment during its review of the implementation guidance documents.

    More information can be found here. 

    MIL OSI USA News

  • MIL-OSI USA: Leader Schumer, Padilla, Whitehouse Lead Democratic Ranking Members in Warning Republicans Against Overruling Parliamentarian’s Decision on California’s Clean Air Act Waivers

    US Senate News:

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

    Leader Schumer, Padilla, Whitehouse Lead Democratic Ranking Members in Warning Republicans Against Overruling Parliamentarian’s Decision on California’s Clean Air Act Waivers

    Senators to Republican Leadership: Disregarding the Senate Parliamentarian’s decision in an attempt to revoke California’s waivers “would be a procedural nuclear option—a dramatic break from Senate precedent with profound institutional consequences.”
    WASHINGTON, D.C. — U.S. Senate Democratic Leader Chuck Schumer (D-N.Y.), U.S. Senator Alex Padilla (D-Calif.), Ranking Member of the Senate Committee on Rules and Administration, and U.S. Senator Sheldon Whitehouse (D-R.I.), Ranking Member of the Senate Committee on Environment and Public Works, led Democratic Ranking Members in strongly warning Majority Leader John Thune (R-S.D.) and Majority Whip John Barrasso (R-Wyo.) of the dangerous and irreparable consequences if Senate Republicans overrule the Senate Parliamentarian’s decision regarding California’s preemption waivers from the Environmental Protection Agency (EPA) that allow the state to implement more protective air quality standards.
    The letter comes after the House of Representatives last week voted to revoke three of California’s Clean Air Act waivers for the state’s clean cars and trucks programs, despite the Government Accountability Office (GAO)’s determination that California’s Clean Air Act waivers are not rules under the Congressional Review Act (CRA), and the Senate Parliamentarian’s decision that any CRA resolutions on this subject would therefore require 60 votes to secure Senate passage. The Senators emphasized that GAO’s determination is consistent with 50 years of agency practice, and that Senate opponents of the Clean Air Act waivers — including Senate Energy and Natural Resources Committee Chairman Mike Lee (R-Utah) and Environment and Public Works Committee Chairwoman Shelley Moore Capito (R-W. Va.) — have even previously acknowledged themselves that these waivers are not reviewable under the CRA by sponsoring legislation related to California’s waiver authority.
    “We understand that some may be considering overruling the Parliamentarian’s decision,” wrote the Senators. “While that might be more expedient than agency rulemaking or considering legislation under the Senate’s normal rules, such an action would be a procedural nuclear option—a dramatic break from Senate precedent with profound institutional consequences.”
    The Senators warned that if Senate Republicans disregard the Senate Parliamentarian’s decision in an attempt to revoke California’s Clean Air Act waivers, they would set a precedent that could be applied to legislation beyond the CRA — eliminating longstanding guardrails and paving the way for a future Senate Majority to overrule the Parliamentarian in order to achieve its legislative goals.
    “If the current Senate Majority were to open this door, the CRA could be weaponized to retroactively invalidate decades of agency actions—including adjudications, permits, and licensing decisions that were never previously considered ‘rules’—and effectively hijack the Senate floor,” continued the Senators. “In addition, if efforts to invalidate such actions were successful, future administrations would face significant obstacles utilizing the underlying authorities for any arguably similar actions, given the plain text of the CRA. Most importantly, however, once that precedent is set, a future Senate Majority could subsequently apply it to legislation beyond the CRA. Put bluntly, there is no cabining a decision to overrule the Parliamentarian.”
    In addition to Leader Schumer and Senators Padilla and Whitehouse, the letter was also signed by U.S. Senators Dick Durbin (D-Ill.), Patty Murray (D-Wash.), Ron Wyden (D-Ore.), Brian Schatz (D-Hawaii), Jack Reed (D-R.I.), Mark Warner (D-Va.), Amy Klobuchar (D-Minn.), Martin Heinrich (D-N.M.), Jeff Merkley (D-Ore.), Maria Cantwell (D-Wash.), Jeanne Shaheen (D-N.H.), Edward J. Markey (D-Mass.), Kirsten Gillibrand (D-N.Y.), Richard Blumenthal (D-Conn.), Elizabeth Warren (D-Mass.), Maggie Hassan (D-N.H.), and Chris Coons (D-Del.).
    Senator Padilla has been outspoken in pushing back against Republican attacks on California’s Clean Air Act waivers. Padilla, Whitehouse, and Senator Adam Schiff (D-Calif.) welcomed the Senate Parliamentarian’s decision that the waivers are not subject to the CRA. Padilla also joined Senators Whitehouse and Schiff in blasting Trump and EPA Administrator Lee Zeldin’s weaponization of the EPA after that GAO finding. Padilla and Schiff previously slammed the Trump Administration’s intent to roll back dozens of the EPA’s regulations that protect California’s air and water.
    Full text of the letter is available here and below:
    Dear Leader Thune and Whip Barrasso:
    We write to emphasize the far-reaching and likely irreversible consequences if the current Senate Majority were to overrule the Senate Parliamentarian’s recent decision that a joint resolution of disapproval regarding three Clean Air Act preemption waivers granted by the Environmental Protection Agency (EPA) to the state of California would not be entitled to expedited procedures in the Senate.
    In reaching that decision, the Senate Parliamentarian relied on the determination made by the independent, non-partisan Government Accountability Office (GAO) that the three Clean Air Act preemption waivers do not qualify as “rules” under the Congressional Review Act (CRA).
    GAO’s determination should not be seen as novel or surprising because it is consistent with fifty years of agency practice. Even prominent Senate opponents of the Clean Air Act waiver provision—including Energy and Natural Resources Committee Chairman Lee and Environment and Public Works Committee Chairman Capito—have previously acknowledged in legislation and public materials that these waivers are not subject to CRA review.
    We, however, do not write to relitigate the determination by GAO or the question already decided by the Parliamentarian. Both parties have been on the losing end of decisions by the Parliamentarian. We ourselves were on the losing end of several decisions by the Parliamentarian during the 117th Congress. But we did not attempt to overrule these decisions, even though we did not agree with them.
    Now, we understand that some may be considering overruling the Parliamentarian’s decision. While that might be more expedient than agency rulemaking or considering legislation under the Senate’s normal rules, such an action would be a procedural nuclear option—a dramatic break from Senate precedent with profound institutional consequences.
    If the current Senate Majority were to open this door, the CRA could be weaponized to retroactively invalidate decades of agency actions—including adjudications, permits, and licensing decisions that were never previously considered “rules”—and effectively hijack the Senate floor. In addition, if efforts to invalidate such actions were successful, future administrations would face significant obstacles utilizing the underlying authorities for any arguably similar actions, given the plain text of the CRA. Most importantly, however, once that precedent is set, a future Senate Majority could subsequently apply it to legislation beyond the CRA. Put bluntly, there is no cabining a decision to overrule the Parliamentarian. 
    We therefore urge you to weigh these issues carefully—with full knowledge of the consequences—should you consider whether to overrule the Parliamentarian regarding a CRA resolution disapproving the Clean Air Act preemption waivers.
    Sincerely,

    MIL OSI USA News

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for May 6, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on May 6, 2025.

    Fiji media welcomes credible news services, but not ‘pop-up propagandists’, says Simpson
    By Anish Chand Entities and individuals that thrived under the previous government with public relations contracts now want to be part of the media or run media organisations, says Fiji Media Association (FMA) secretary Stanley Simpson. He made the comments yesterday while speaking at a World Press Freedom Day event hosted by the journalism programme

    Locked up then locked out: how NZ’s bank rules make life for ex-prisoners even harder
    Source: The Conversation (Au and NZ) – By Victoria Stace, Senior Lecturer, Te Herenga Waka — Victoria University of Wellington FotoDax/Shutterstock People coming out of prison in New Zealand face multiple hurdles reintegrating into society – starting with one of the most fundamental elements of modern life: getting a bank account. Not having a bank

    Can a wooden spoon really stop a pot from boiling over? Here’s the science
    Source: The Conversation (Au and NZ) – By Jay Deagon, Senior Lecturer of Home Economics, CQUniversity Australia Alexanderstock23/Shutterstock One moment, your spaghetti is happily bubbling away in the pot. A minute later, after busying yourself with something else, you turn around to find a hot mess all over your stove. Boiling liquid can rocket up

    How did sport become so popular? The ancient history of a modern obsession
    Source: The Conversation (Au and NZ) – By Konstantine Panegyres, Lecturer in Classics and Ancient History, The University of Western Australia Roman mosaics discovered in Sicily show women playing different sports. David Pineda Svenske/Shutterstock It’s almost impossible to go a day without seeing or hearing about sport. Walk around any city or town and you

    AI systems are built on English – but not the kind most of the world speaks
    Source: The Conversation (Au and NZ) – By Celeste Rodriguez Louro, Associate professor, Chair of Linguistics and Director of Language Lab, The University of Western Australia Reihaneh Golpayegani / Better Images of AI, CC BY An estimated 90% of the training data for current generative AI systems stems from English. However, English is an international

    Crikey, ChatGPT’s gone bush! How AI is learning the art of Aussie slang
    Source: The Conversation (Au and NZ) – By Ross Yates, Lecturer, Project Management, Edith Cowan University Shutterstock Ever tried to explain why a sausage would be referred to as a “snag” while overseas, or why the toilet is the “dunny”? If you found this challenging, spare a thought for large language models (LLMs) such as

    What are the key risk factors for developing knee osteoarthritis? We reviewed the evidence
    Source: The Conversation (Au and NZ) – By Christina Abdel Shaheed, Associate Professor, School of Public Health, University of Sydney Osteoarthritis is the most common joint disease, affecting more than 3 million Australians and over 500 million people worldwide. The knee is the most commonly affected joint, but osteoarthritis can also affect other joints including

    We’ve heard the promises. Now it’s up to Labor to deliver its housing, wages and other economic policies
    Source: The Conversation (Au and NZ) – By Michelle Cull, Associate Professor of Accounting and Financial Planning, Western Sydney University With a convincing win for a second term of government, the pressure is now on the new Labor government to deliver the economic policies central to its win. Prime Minister Anthony Albanese is wary of

    Labor has the chance to do something big in its second term. What policy reforms should it take on?
    Source: The Conversation (Au and NZ) – By Yee-Fui Ng, Associate Professor, Faculty of Law, Monash University Dan Breckwoldt/Shutterstock Labor’s historic election victory means the Albanese government has a rare opportunity to pursue a big, bold reform agenda. The scale of the victory all but guarantees a third term in office after the next election

    ‘I got sent something of people shooting themselves’ – research shows young people can’t avoid harmful content online
    Source: The Conversation (Au and NZ) – By Dougal Sutherland, Clinical Psychologist, Te Herenga Waka — Victoria University of Wellington Leon Neal/Getty Images A new report from New Zealand’s Classification Office has revealed how young people are being exposed to harmful content online and what it is doing to their mental health. The Classification Office

    Caitlin Johnstone: It was never about hostages. It was never about Hamas
    Report by Dr David Robie – Café Pacific. – COMMENTARY: By Caitlin Johnstone Benjamin Netanyahu said last Thursday that freeing the Israeli hostages in Gaza was not his top priority, suggesting instead that defeating Hamas should take precedence over a hostage deal. “We have many objectives, many goals in this war,” Netanyahu said. “We want

    Viral video shows Fiji prison chief throwing punches at Suva bar
    RNZ Pacific The head of Fiji’s prison service has been caught on camera involved in a fist fight that appears to have taken place at the popular O’Reilley’s Bar in the capital of Suva. Sevuloni Naucukidi, the acting Commissioner of the Fiji Corrections Service (FCS), can be seen in the viral video throwing punches at

    PINA on World Press Freedom Day – facing new and complex AI challenges
    By Kalafi Moala in Nuku’alofa On this World Press Freedom Day, we in the Pacific stand together to defend and promote the right to freedom of expression — now facing new and complex challenges in the age of Artificial Intelligence (AI). This year’s global theme is “Reporting a Brave New World: The impact of Artificial

    Late counting continues in several seats, with Goldstein and Melbourne among those too close to call
    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne With 78% of enrolled voters counted, the ABC is calling 85 of the 150 House of Representatives seats for Labor, 39 for the Coalition, zero for the

    Pacific ‘story sovereignty’ top of mind on World Press Freedom Day
    By Michelle Curran of Pasifika TV World Press Freedom Day is a poignant reminder that journalists and media workers are essential for a healthy, functioning society — including the Pacific. Held annually on May 3, World Press Freedom Day prompts governments about the need to respect press freedom, while serving as a day of reflection

    View from The Hill: a budding Trump-Albanese bromance?
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra It took an election win, but Anthony Albanese on Monday finally received that much-awaited phone call from US President Donald Trump. The conversation was “warm and positive,” the prime minister told a news conference, thanking the president for “reaching out”.

    In its soul-searching, Australia’s rightist coalition should examine its relationship with the media
    ANALYSIS: By Matthew Ricketson, Deakin University and Andrew Dodd, The University of Melbourne Among the many lessons to be learnt by Australia’s defeated Liberal-National coalition parties from the election is that they should stop getting into bed with News Corporation. Why would a political party outsource its policy platform and strategy to people with plenty

    Is it dangerous to kiss someone who’s eaten gluten if you have coeliac disease?
    Source: The Conversation (Au and NZ) – By Vincent Ho, Associate Professor and Clinical Academic Gastroenterologist, Western Sydney University Lordn/Shutterstock Coeliac disease is not a food allergy or intolerance. It’s an autoimmune disease that makes the body attack the small intestine if gluten (a protein found in wheat, rye and barley) reaches the gut. Even

    After its landslide win, Labor should have courage and confidence on security – and our alliance with the US
    Source: The Conversation (Au and NZ) – By Joanne Wallis, Professor of International Security, University of Adelaide The re-election of the Albanese Labor government by such a wide margin should not mean “business as usual” for Australia’s security policy. The global uncertainty instigated by US President Donald Trump means Australia’s security landscape is very different

    5 huge climate opportunities await the next parliament – and it has the numbers to deliver
    Source: The Conversation (Au and NZ) – By Anna Skarbek, Climateworks CEO, Monash University Australians have returned an expanded Labor Party to government alongside a suite of climate-progressive independents. Meanwhile, the Coalition – which promoted nuclear energy and a slower renewables transition – suffered a historic defeat. Labor also looks set to have increased numbers

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI United Kingdom: British businesses celebrated in third year of The King’s Awards for Enterprise  

    Source: United Kingdom – Executive Government & Departments

    Press release

    British businesses celebrated in third year of The King’s Awards for Enterprise  

    The recipients of The King’s Awards for Enterprise have been announced today, celebrating the achievements of leading businesses from across the UK and Channel Islands.

    • 197 recipients announced in The King’s Awards for Enterprise – the UK’s most prestigious business awards 
    • Firms from Stirling to Somerset have their excellence recognised with two businesses receiving awards in two categories  
    • These successful businesses are playing a key role in the Government’s mission to go further and faster for economic growth as part of our Plan for Change 

    The recipients of The King’s Awards for Enterprise have been announced today [6 May], celebrating the achievements of leading businesses from across the UK and Channel Islands and recognising their vital role in growing our economy to improve lives. 

    This year, 197 businesses representing a diverse range of sectors, have been recognised by His Majesty The King as among the best in the country, highlighting the ambition, ingenuity, and success of our diverse business community.  

    A total of 199 awards have been issued with two companies, Hampshire-based Sonardyne International and Norfolk-based Delta Fire, being recognised for two Awards each.  

    Overall, 116 businesses have been recognised for International Trade, 46 for Innovation, 27 for Sustainable Development and 10 for Promoting Opportunity Through Social Mobility.  

    By supporting more people into work, developing new innovations and exporting the best Britain has to offer around the world, businesses like these are playing a key role in the Government’s mission to go further and faster for economic growth, to put more money in more working people’s pockets as part of our Plan for Change. 

    Gareth Thomas, Minister for Services, Small Businesses and Exports said: 

    Congratulations to the recipients of this year’s King’s Awards for Enterprise, who all demonstrate the very best of British business talent. 

    I wish them every success as they continue to grow, innovate and prosper, and commend the invaluable contributions they have already made to communities at home and abroad, helping to boost the UK economy.  

    Out of the 197 winning businesses 176 (88%) are SMEs, and of those, 27 (14%) are micro-businesses, with 10 employees or less. 

    Smaller businesses are the beating heart of this government’s growth mission and providing them with the right support to overcome barriers and reach their full potential is an absolute priority. That is why this Government protected a million small firms from National Insurance increases and extended business rates relief in the Budget. 

    Since then, we have also launched the new Board of Trade to boost small businesses exports and announced over 200 new Banking Hub locations on top of the existing 100 already open. We have also taken action to tackle the scourge of late payments, and most recently, provided a multi-billion-pound increase in government backed financing to help organisations like the British Business Bank provide vital finance for smaller businesses. 

    We know that it will only take a 1% increase in SME productivity per year, over the next 5 years, to grow the UK economy by a whopping £94 billion.  

    Graham Brown, Managing Director of Sonardyne, said:  

    We’re absolutely delighted to have received this recognition. Receiving two King’s Awards in 2025 really celebrates Sonardyne’s ongoing performance in International Trade delivered by working sustainably. 

    It’s a testament to the hard work of everyone at Sonardyne in making, selling, and supporting great products operating across our blue planet, whilst all the time caring deeply about how we do business to protect it. I hope we can inspire and help other UK businesses to do the same. 

    Ian Gardner, Managing Director and Founder of Delta Fire, said: 

    We are absolutely thrilled to receive two King’s Awards for Enterprise for both Innovation and Sustainable Development. These two highly prestigious awards are a fantastic recognition of the great team work in Delta Fire over the last 35 years from a small workshop unit to a state-of-the-art manufacturing facility using net zero energy. 

    Innovation and Sustainability has led Delta Fire to exporting fire nozzles all around the world and being used to successfully extinguish the majority of fires in the UK every day. 

    The King’s Awards for Enterprise were previously known as The Queen’s Awards for Enterprise and were renamed two years ago to reflect His Majesty The King’s desire to continue the legacy of HM Queen Elizabeth II by recognising outstanding UK businesses. The Award programme, now in its 59th year, has awarded over 8,000 companies since its inception in 1965. 

    His Majesty’s Lord Lieutenants – The King’s representatives in each county – will be presenting the Awards to businesses locally throughout the year. One representative from each winning business will also be invited to a special Royal reception event. 

    Case-studies 

    • Sonardyne Energy, a Hampshire based firm, transforming what’s possible in offshore energy, maritime defence and ocean science markets through the engineering and manufacturing of their world-leading underwater equipment. They receive the award for International Trade and Sustainable Development.     
    • Delta Fire, a globally recognised designer, manufacturer, and supplier of specialist front-line firefighting products, committed to sustainability and carbon neutrality by 2030. Based in Norfolk, Delta Fire have been recognised in the Innovation and Sustainable Development categories.   

    Other recipients also include: 

    • Level Peaks, a business based in Hereford, and managed by ex-British Military Special Forces Veterans, which supplies innovative defence and security equipment to the UK Government and governments abroad. The company receives The King’s Award for International Trade. 
    • Mixergy, which has received the Innovation award for their intelligent hot water tank which interacts between homes and the grid to maximise efficiency and reduce energy bills. The business is based in Oxford. 

    The full list of Awardees across the four categories can be found in the London Gazette.

    Updates to this page

    Published 6 May 2025

    MIL OSI United Kingdom

  • MIL-OSI USA: NASA Kennedy Breathes Life into Moon Soil Testing

    Source: NASA

    As NASA works to establish a long-term presence on the Moon, researchers have reached a breakthrough by extracting oxygen at a commercial scale from simulated lunar soil at Swamp Works at NASA’s Kennedy Space Center in Florida. The achievement moves NASA one step closer to its goal of utilizing resources on the Moon and beyond instead of relying only on supplies shipped from Earth.
    NASA Kennedy researchers in the Exploration Research and Technology programs teamed up with Lunar Resources Inc. (LUNAR), a space industrial company in Houston, Texas, to perform molten regolith electrolysis. Researchers used the company’s resource extraction reactor, called LR-1, along with NASA Kennedy’s vacuum chamber. During the recent vacuum chamber testing, molecular oxygen was measured in its pure form along with the production of metals from a batch of dust and rock that simulates lunar soil, often referred to as “regolith,” in the industry.
    “This is the first time NASA has produced molecular oxygen using this process,” said Dr. Annie Meier, molten regolith electrolysis project manager at NASA Kennedy. “The process of heating up the reactor is like using an elaborate cooking pot. Once the lid is on, we are essentially watching the gas products come out.”
    During testing, the vacuum environment chamber replicated the vacuum pressure of the lunar surface. The extraction reactor heated about 55 pounds (25 kilograms) of simulated regolith up to a temperature of 3100°F (1700°C) until it melted. Researchers then passed an electric current through the molten regolith until oxygen in a gas form was separated from the metals of the soil. They measured and collected the molecular oxygen for further study.
    In addition to air for breathing, astronauts could use oxygen from the Moon as a propellant for NASA’s lunar landers and for building essential infrastructure. This practice of in-situ resource utilization (ISRU) also decreases the costs of deep space exploration by reducing the number of resupply missions needed from Earth.
    Once the process is perfected on Earth, the reactor and its subsystems can be delivered on future missions to the Moon. Lunar rovers, similar to NASA’s ISRU Pilot Excavator, could autonomously gather the regolith to bring back to the reactor system to separate the metals and oxygen.
    “Using this unique chemical process can produce the oxidizer, which is half of the propellant mix, and it can create vital metals used in the production of solar panels that in turn could power entire lunar base stations,” said Evan Bell, mechanical structures and mechatronics lead at NASA Kennedy.
    Post-test data analysis will help the NASA and LUNAR teams better understand the thermal and chemical function of full-scale molten regolith electrolysis reactors for the lunar surface. The vacuum chamber and reactor also can be upgraded to represent other locations of the lunar environment as well as conditions on Mars for further testing.
    Researchers at NASA Kennedy began developing and testing molten regolith electrolysis reactors in the early 1990s. Swamp Works is a hands-on learning environment facility at NASA Kennedy that takes ideas through development and into application to benefit space exploration and everyone living on Earth. From 2019 to 2023, Swamp Works developed an early concept reactor under vacuum conditions named Gaseous Lunar Oxygen from Regolith Electrolysis (GaLORE). Scientists at NASA’s Johnson Space Center in Houston conducted similar testing in 2023, removing carbon monoxide from simulated lunar regolith in a vacuum chamber.
    “We always say that Kennedy Space Center is Earth’s premier spaceport, and this breakthrough in molten regolith electrolysis is just another aspect of us being the pioneers in providing spaceport capabilities on the Moon, Mars, and beyond,” Bell said.
    NASA’s Exploration Research and Technology programs, related laboratories, and research facilities develop technologies that will enable human deep space exploration. NASA’s Game Changing Development program, managed by the agency’s Space Technology Mission Directorate funded the project.

    MIL OSI USA News

  • MIL-OSI Europe: Written question – Visit to Azerbaijan by the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy – E-001660/2025

    Source: European Parliament

    Question for written answer  E-001660/2025
    to the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy
    Rule 144
    Gerolf Annemans (PfE)

    At a time when the Armenian Genocide is being commemorated, and there are continuing tensions and border disputes between Azerbaijan and Armenia, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy (VP/HR) is visiting Baku on 25 April.

    President Ilham Aliyev has threatened the EU Mission in Armenia in the past and seems to care little about EU criticism. It nonetheless appears that the VP/HR is planning the visit in order to achieve short-term energy gains, disregarding the rule of law and international law in the process.

    • 1.Why is the VP/HR choosing this precise juncture to visit the regime that is threatening her own mission when she is not going to Armenia at the same time?
    • 2.Will the VP/HR, in Azerbaijan, raise the criticism voiced by Parliament in its resolution of 13 March 2025 on the unlawful detention and sham trials of Armenian hostages, including high-ranking political representatives from Nagorno-Karabakh, by Azerbaijan?
    • 3.Will the VP/HR convey the message that the Memorandum of Understanding on a Strategic Partnership in the Field of Energy will be suspended as long as Azerbaijan remains deaf to the EU’s concerns?

    Submitted: 24.4.2025

    Last updated: 5 May 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Safeguarding European industry: confronting the European Green Deal’s economic and industrial consequences within the framework of the Competitiveness Compass – E-000553/2025(ASW)

    Source: European Parliament

    1. The Green Deal[1] aims at positioning Europe as the first climate-neutral continent in a fair, cost effective and competitive way. The Clean Industrial Deal[2] has continued this path by strengthening the business case for decarbonisation and competitiveness in the EU[3] through actions to improve access to affordable energy, lead markets, public and private investments, materials and resources, global markets, skills and quality jobs. To tailor actions to the needs of individual industries, work goes on with the preparation of sector specific plans, such as those for the automotive[4], steel, and metal[5] sectors. The recent simplification package[6] shows the Commission’s focus also on horizontal enablers necessary for a competitive economy.

    2. EU’s industry faces higher energy prices than those of our trading partners and unfair global competition due to overcapacities from other countries. To address this and support the green transition, the Commission adopted the Affordable Energy Action Plan[7]. Reducing dependency on hydrocarbons and expanding clean technologies is key for EU’s energy security. The Clean Industrial Deal targets 100 GW of renewable electricity generation and boosting recycling and use of secondary materials that require less energy than extraction and processing of virgin materials. The EU remains committed to its decarbonisation objectives.

    3. In addition to strengthening its domestic supply chains and resilience, the EU remains committed to the effective implementation of critical raw materials policies through strategic partnerships with countries rich in these resources and boosting recycling.

    • [1] https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal/delivering-european-green-deal_en
    • [2] COM(2025) 85 final of 26.2.2025.
    • [3] See also the Competitiveness Compass communication, COM(2025) 30 final of 29.1.2025.
    • [4] See the Industrial Action Plan for an Automotive Sector, COM(2025) 95 final of 05.3.2025.
    • [5] See the Steel and Metals Action Plan, COM(2025) 30 final of 19.3.2025.
    • [6] https://finance.ec.europa.eu/publications/commission-simplifies-rules-sustainability-and-eu-investments-delivering-over-eu6-billion_en
    • [7] https://energy.ec.europa.eu/strategy/affordable-energy_en
    Last updated: 5 May 2025

    MIL OSI Europe News

  • MIL-OSI New Zealand: Watercare director appointed

    Source: Auckland Council

    Auckland Council has appointed Rukumoana Schaafhausen as director of Watercare Services Limited (Watercare).

    Cr Maurice Williamson chaired the selection panel and welcomes Rukumoana to the Watercare board.

    “Ruku brings a wealth of experience of relevant sectors and will bring an essential Māori perspective to the governance of Watercare. She was the stand-out candidate in a highly impressive field. She will be an exceptional asset to the governance of Watercare Services ensuring that the organisation continues to deliver, and deliver well for Auckland,” says Cr Williamson.

    The appointment was approved by the Performance and Appointments Committee on 29 April 2025. The committee is responsible for all appointments to the boards of council-controlled organisations, in accordance with the council’s Appointment and Remuneration Policy for Board Members and the Local Government Act.

    About Rukumoana Schaafhausen

    Rukumoana Schaafhausen is trained commercial and property solicitor who has more than 20 years of board room experience leading iwi organisations, utilities (energy and water), banking, investments and property development.

    Her current roles include the boards of Contact Energy, Kiwi Group Capital, Alvarium Limited and Tainui Group Holdings.

    MIL OSI New Zealand News