Category: Energy

  • MIL-OSI USA: 100 Days, 4 Words: Promises Made, Promises Kept

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    WASHINGTON — This morning, at the weekly House Republican Leadership press conference, Speaker Johnson celebrated the achievements of President Trump’s historic first 100 days in office and addressed Congressional Democrats’ recent political theatrics.

    Watch Speaker Johnson’s full remarks here

    On President Trump’s First 100 Days:

    President Trump has accomplished more in the first 100 days than most presidents do in their entire careers, their entire tenures. The Atlantic, right? I don’t know if there’s an Atlantic reporter here this morning, but they’re not a fan of him, right? Yesterday, they described him this way. “He is the most consequential American leader of the 21st century.” And that’s an understatement.

    President Trump has,here’s a list: removed men from women’s sports, ended DEI in the federal government and the US military, expanded oil and gas extraction to lower prices, taken steps to end unfair trade practices, secured trillions of dollars in new investments in American manufacturing, deported criminal illegal aliens, stood up for religious liberty and rooted out anti-Christian bias, and combated virulent antisemitism on college campuses. The list goes on and on and on, and that’s just barely scratching the surface.

    On Promises Made, Promises Kept:

    Nearly every public opinion survey found that voters in the last election were most concerned about two things: inflation and the wide open border and the crisis that it created. On just these two issues and in 100 days, legal crossings are at an all-time low and inflation has fallen rapidly. President Biden often said that he had exhausted his executive authority, he told me that we needed new laws. He told me this many times himself: we have to stop the border crisis, but Congress has to act. I pleaded with President Biden, do your job, use your executive authority. He claimed he didn’t have it. But as President Trump has just demonstrated, all we needed was a new president. We needed real leadership. We didn’t need new laws.

    The Trump administration has stopped illegal border crossings with a 99.9% success rate. The border crisis is solved, more than 100,000 illegal aliens and gang members have been deported, and that makes Americans safer. They feel more secure again. Groups of migrants are actually stopping their journeys and they are turning around. You know why? Because we got a new sheriff in town due to President Trump’s border policies. We now know again that deterrence works. On inflation, President Trump promised to rapidly drive down prices and make American goods affordable again. The Consumer Price Index beat expectations and actually dropped .1% in March. That is the first time that has happened since COVID. Inflation is cooling. Energy prices are down, as we all know, trillions of dollars in US investments have been secured by the Trump administration. And again, we’re just getting started.

    On Congressional Democrats political theatrics:

    While we’re working to build on President Trump’s successes and codify his agenda into law, the Democrats just still don’t get it. I mean, they just keep demonstrating they don’t get it. It is more than 100 days into the 119th Congress, and the contrast could not be clearer. They don’t have any message. They don’t have a clear leader. They don’t have a clear vision. They don’t they don’t know what to do. Their platform has been repudiated, and they’re turning on themselves.

    …In one of the most baffling political displays that we’ve ever seen, Congressional Democrats used their district work period to fly to El Salvador and provide comfort to a wife beating MS-13 gang member who entered the US illegally. I mean, it was a shameful performance, and I hope their constituents do not forget it. We won’t. And we reflect on the first 100 days the Trump administration, it’s very clear which party is fighting for the American people, for a stronger and safer and more prosperous America.

    ###

    MIL OSI USA News

  • MIL-OSI Canada: Saskatchewan Encourages New Pipeline Projects with Oil Infrastructure Program Extension

    Source: Government of Canada regional news

    Released on April 29, 2025

    The Government of Saskatchewan is extending the Oil Infrastructure Investment Program (OIIP) to expand market access for Saskatchewan oil and support the continued development of carbon dioxide (CO2) pipelines. CO2 pipelines play an important role in reducing emissions and growing enhanced oil recovery capacity.

    Since OIIP was introduced in 2020, 74,000 barrels per day of new oil pipeline capacity has been added through the program. To date, over $100 million in private capital investment has been secured through OIIP, with a further $380 million associated with projects that have been conditionally approved.

    “This program remains essential to our goals of generating investment in new energy projects and increasing our oil export capacity,” Energy and Resources Minister Colleen Young said. “Extending OIIP shows we are committed to maintaining a competitive resource development environment in Saskatchewan. The growth of our oil and gas sector is a significant priority for our government because it leads to good jobs and additional economic opportunities for the people of our province.”  

    The extension of OIIP will allow for the program to continue accepting new applications until March 31, 2029. The program will continue to offer a 20 per cent royalty tax credit, up to a maximum of $40 million, on qualifying oil or CO2 pipeline projects. 

    “The extension of the Oil Infrastructure Investment Program will help the province remain a competitive destination for investment, especially as companies navigate these economically challenging times,” Husky Midstream Chief Executive Officer Shane Cooke said. “As a company, we benefitted from our participation in the program when expanding our Saskatchewan operations and believe its continuation will encourage future investment in transportation infrastructure that supports new production opportunities and industry growth.”

    For more information about OIIP, including links to application documents, visit: https://www.saskatchewan.ca/oil-infrastructure-investment-program.

    -30-

    For more information, contact:

    MIL OSI Canada News

  • MIL-OSI: 2025 first-quarter results

    Source: GlobeNewswire (MIL-OSI)

    Paris (France), April 29, 2025

    A SOLID START TO THE YEAR, WITH SUCCESSFUL REFINANCING 
    AND VESSEL CAPACITY AGREEMENT TERMINATED

        Q11
    Revenue2   $301M (+10%)
    Adjusted EBITDA2   $143M (+35%)
    Net Cash Flow   $(20)M (vs $30M)

    Including a $42M interest payment in March 2025 (historically paid in Q2)

    Sophie Zurquiyah, Chief Executive Officer of Viridien:

    “The first quarter of 2025 was marked by two significant milestones for the Group: the termination of the vessel capacity agreement, completing our transition toward an asset-light model, and the successful refinancing of our bonds. The end of the vessel capacity agreement opens a new chapter of enhanced flexibility in our cost base and stronger cash generation, while our bond refinancing reflects the financial market’s confidence in the execution of our strategy and our long-term potential.

    In parallel, our financial results for the first quarter of 2025 confirm the robust performance of our business, with commercial wins, solid profitability, and cash generation fully aligned with our long-term ambitions.

    Assuming moderate fluctuations in the oil market, we expect to achieve our target of approximately $100M in Net Cash Flow generation for the year and to continue our deleveraging journey.”

    Q1 2025 Highlights2

    • Group
      • IFRS Revenue, EBITDA and Net Income of respectively $258 million, $99 million, $(28) million
      • Group revenue increased thanks to sustained momentum in Geoscience and successful Earth Data sales. Sensing & Monitoring comparison base returned to a more normalized level
    • Group Adjusted EBITDA of $143 million, up 35%, benefited from (i) revenue growth at Geoscience, (ii) revenue growth and the end of vessel commitment penalty fees at Earth Data, and (iii) cost reductions at Sensing & Monitoring
    • Cash flow of $22 million before the $42 million bond interest payment in Q1 (historically paid in Q2). Net Cash Flow of $(20) million after interest payment and negative working capital impact
    • Final milestones of our financial roadmap achieved: successful refinancing of our April 2027 $447 million and €578 million notes, replaced with $450 million 10% and €475 million 8.5% senior secured notes due October 2030
    • Net debt at $974 million and liquidity at $257 million
    • Digital, Data and Energy Transition (DDE)
      • Revenue at $214 million, up 16% with growth both at Geoscience (+25%) and Earth Data (+7%)
      • Adjusted EBITDA at $137 million, up 32%
        • Geoscience:
          • Revenue at $110 million (+25%)
          • Solid performance driven by continued adoption of our most advanced Elastic FWI technologies worldwide
          • North America outperforming and sustained interest of MENA clients for high-quality imaging
          • Low Carbon: minerals study in Saudi Arabia and new win for carbon sequestration in the North Sea
          • HPC & Digital: new HPC customers in Materials Science and Image Rendering operating on our platform
        • Earth Data:
          • Revenue at $104 million (+7%)
          • Cash EBITDA at $39 million (+12%)
          • Early results show game-changing imaging at Laconia and environmental permit received for a program in Brazil. Active on multiple reprocessing projects worldwide
          • Low Carbon: CCUS screening package projects funded by industrial emitters in Europe
    • Sensing and Monitoring (SMO)
      • Revenue at $87 million, nearly stable (-2%), with a return to a more normalized comparison base
      • Adjusted EBITDA at $14 million (+37%), driven by cost reduction impact on profitability
        • Sustained activities in Land with strong momentum on nodal systems
        • New Businesses: new infrastructure monitoring contracts signed in North America; pursuing several geotechnical monitoring opportunities in rail and mining sectors worldwide; awarded a new project for our Marlin Ports & Logistics solution in Asia
    • Full-Year 2025 financial outlook
      • In 2025, assuming a stable E&P Capex environment, performance is expected to be driven by:
        • Geoscience: growth supported by industry-leading technology and strong backlog
    • Earth Data: stronger Cash EBITDA KPI following the end of vessel commitment penalty fees
      • Sensing & Monitoring: further savings expected from the restructuring plan
      • New Businesses: growth and first- year positive contribution to Group profitability
    • Financial objective:
      • Net Cash Flow of approximately $100 million, assuming moderate oil market fluctuations
    • Following the successful refinancing completed in Q1, Viridien will continue focusing on cash flow generation and deleveraging
    • Q1 2025 Conference call
      • The press release and presentation will be available on our website www.viridiengroup.com at 5:45 p.m. (CET)
      • An English-language analysts’ conference call is scheduled today at 6:00 p.m. (CET)
      • Participants should register for the call here to receive a dial-in number and access code, or participate via the live webcast here
      • A replay of the conference call will be available the following day for a period of 12 months in audio format on the Company’s website

    The Board of Directors met on April 29, 2025, and closed the consolidated financial statements as of
    March 31, 2025. Please note that the figures and information published in this press release have not been audited nor have they been subject to any limited review by Viridien’s statutory auditors.

    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 resources, 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).

    Investors contact:

    VP Investor Relations and Corporate Finance
    Alexandre Leroy
    alexandre.leroy@viridiengroup.com
    +33 6 85 18 44 31

    Q1 2025 – Financial Results

    Key Segment P&L figures (1)
    (in millions of $)
    2024 2025 Var.
    %
    Q1 Q1
    Exchange rate euro/dollar 1.09 1.04 (5%)
    Segment revenue 273 301 10%
    DDE 185 214 16%
    Geoscience 88 110 25%
    Earth Data 97 104 7%
    SMO 89 87 (2%)
    Land 45 51 14%
    Marine 34 25 (26%)
    Beyond the core 11 11 4%
    Segment EBITDAs 105 142 36%
    Adjusted (2)Segment EBITDAS 106 143 35%
    DDE 104 137 32%
    SMO 10 14 37%
    Corporate and other (8) (8) -1%
    Segment operating income 28 65 136%
    Adjusted (2)Segment operating income 29 66 130%
    DDE 35 66 87%
    SMO 2 8 303%
    Corporate and other (9) (9) -1%
    1) Unaudited figures
    2) Adjusted for non-recurring charges and gains
         
    Other KPI (1)
    (in millions of $)
    2024 2025 Var.
    %
    Q1 Q1
    Geoscience Backlog 227 329 45%
    Total Capex 58 61 5%
    EDA Library net book value (2) 471 489 4%
    Liquidity 440 257 -42%
    o.w. undrawn RCF 90 110 (3) 22%
    Gross debt (2) 1 316 1 120 -15% 
    o.w. accrued interests 43 2 -96%
    o.w. lease liabilities 108 124  15%
    Net debt (2) 966 974 1%
    1)   Unaudited figures
    2)   Post IFRS15 and 16
    3)   $125M RCF fully undrawn, o/w. $15M ancillary guarantee facility
         
    Consolidated IFRS Income Statements (1)
    (in millions of $)
    2024 2025 Var.
    %
    Q1 Q1
    Exchange rate euro/dollar 1.09 1.04 (5%) 
    Revenue 249 258 4%
    EBITDA 80 99 24%
    Operating Income 20 56 185%
    Equity from Investment (0) (0) 2%
    Net cost of financial debt (24) (26) 6%
    Other financial income (loss) 0 (46)
    Income taxes 2 (13)
    Net Income / Loss from continuing operations (3) (29)
    Net Income / Loss from discontinued operations 0 1
    Net Income / (Loss) (3) (28)
    Shareholder’s net income / (loss) (3) (28)
    Basic Earnings per share in $ (0.42) (3.88)
    Basic Earnings per share in € (0.38) (3.74)

    1)   Unaudited figures

    Cash Flow items (1)
    (in millions of $)
    2024 2025 Var.
    %
    Q1 Q1
    Segment EBITDA 105 142 36%
    Income Tax Paid (3) (4) (26%)
    Change in Working Capital & Provisions (0) (47)
    Other Cash Items (1) (1) 13%
    Cash provided by Operating Activity 102 91 (9%)
    Total Capex (58) (61) (5%)
    Acquisitions and Proceeds of Assets 0 (1)
    Cash from Investing Activity (58) (62) (7%)
    Paid Cost of Debt 2 (39)
    Lease Repayment (12) (10) 17%
    Cash from Financing Activity (10) (49)
    Discontinued Operations Acquisitions (3) (0) 89%
    Net Cash Flow 30 (20)
    Financing cash flow (3) (129)
    Forex and other (4) (6)
    Net increase/(decrease) in cash 23 (155)

    1)   Unaudited figures

    CONSOLIDATED FINANCIAL STATEMENTS – March 31, 2025

    Unaudited Interim Consolidated statement of operations

        Three months ended March 31,
    (In millions of US$, except per share data) Notes 2025 2024
    Operating revenues   257.5 248.6
    Other income from ordinary activities   0.1 0.1
    Total income from ordinary activities   257.6 248.7
    Cost of operations   (171.0) (192.8)
    Gross profit   86.6 55.9
    Research and development expenses – net   (4.0) (4.9)
    Marketing and selling expenses   (7.7) (8.8)
    General and administrative expenses   (18.1) (21.3)
    Other revenues (expenses) – net 5 (0.3) (1.1)
    Operating income (loss)   56.4 19.8
    Cost of financial debt – gross   (27.4) (27.4)
    Income provided by cash and cash equivalents   1.6 3.1
    Cost of financial debt, net   (25.8) (24.3)
    Other financial income (loss) 6 (46.2) (0.0)
    Income (loss) before incomes taxes and share of income (loss) from companies accounted for under the equity method   (15.5) (4.5)
    Income taxes   (12.9) 2.1
    Net income (loss) before share of income (loss) from companies accounted for under the equity method   (28.4) (2.4)
    Net income (loss) from companies accounted for under the equity method   (0.2) (0.2)
    Net income (loss) from continuing operations   (28.6) (2.6)
    Net income (loss) from discontinued operations   0.7 0.0
    Consolidated net income (loss)   (28.0) (2.6)
    Attributable to:      
    Owners of Viridien S.A. $ (27.8) (3.0)
    Non-controlling interests $ (0.2) 0.4
    Net income (loss) per share      
    Basic (a) $ (3.88) (0.42)
    Diluted (a) $ (3.88) (0.42)
    Net income (loss) from continuing operations per share      
    Basic (a) $ (3.97) (0.42)
    Diluted (a) $ (3.97) (0.42)
    Net income (loss) from discontinued operations per share (a)      
    Basic (a) $ 0.09 (0.00)
    Diluted (a) $ 0.09 (0.00)

    (a)   As a result of the July 31, 2024 reverse share split, the calculation of basic and diluted earnings per share for 2023 has been adjusted retrospectively. The number of ordinary shares outstanding has been adjusted to reflect the proportionate change in the number of shares

    See the notes to the Unaudited Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statement of comprehensive income (loss)

        Three months ended March 31,
    (In millions of US$) Notes 2025 (a) 2024 (a)
    Net income (loss) from statements of operations   (28.0) (2.6)
    Net gain (loss) on cash flow hedges   (0.3) 0.3
    Variation in translation adjustments   9.9 (5.8)
    Net other comprehensive income (loss) to be reclassified in profit (loss) in subsequent period (1)   9.6 (5.5)
    Net gain (loss) on actuarial changes on pension plan   (0.5) 0.0
    Net other comprehensive income (loss) not to be reclassified in profit (loss) in subsequent period (2)   (0.5) 0.0
    Total other comprehensive income (loss) for the period,
    net of taxes (1) + (2)
      9.1 (5.5)
    Total comprehensive income (loss) for the period   (18.9) (8.1)
    Attributable to:      
    Owners of Viridien S.A.   (18.8) (8.4)
    Non-controlling interests   (0.1) 0.3

    (a) Including other comprehensive income related to discontinued operations which is not material

    Unaudited Interim Consolidated statement of financial position

    (In millions of US$) Notes March 31, 2025 December 31, 2024
    ASSETS      
    Cash and cash equivalents   146.6 301,7
    Trade accounts and notes receivable, net   343.7 339,9
    Inventories and work-in-progress, net   162.4 163,3
    Income tax assets   13.5 22,9
    Other current assets, net   78.1 74,0
    Assets held for sale, net   26.4 24,5
    Total current assets   770.7 926,2
    Deferred tax assets   39.5 43,6
    Other non-current assets, net   8.6 8,9
    Investments and other financial assets, net   24.2 25,7
    Investments in companies under the equity method   5.9 1,1
    Property, plant and equipment, net   212.1 220,6
    Intangible assets, net   569.3 535,4
    Goodwill, net   1,086.4 1,082,8
    Total non-current assets   1,946.0 1,918,1
    TOTAL ASSETS   2,716.7 2,844,3
    LIABILITIES AND EQUITY      
    Financial debt – current portion 3 43.8 56,9
    Trade accounts and notes payables   101.3 120,9
    Accrued payroll costs   92.4 84,5
    Income taxes payable   17.8 20,4
    Advance billings to customers   18.1 19,2
    Provisions — current portion   18.8 19,7
    Other current financial liabilities   0.0 0,5
    Other current liabilities   207.7 182,5
    Liabilities associated with non-current assets held for sale   2.2 2,4
    Total current liabilities   502.1 507,0
    Deferred tax liabilities   18.4 18,4
    Provisions — non-current portion   30.9 28,8
    Financial debt – non-current portion 3 1,076.4 1,165,6
    Other non-current financial liabilities   0.0 0,0
    Other non-current liabilities   1.8 1,7
    Total non-current liabilities   1,127.5 1,214,5
    Common stock: 11,214,681 shares authorized and 7,161,465 shares with a €1.00 nominal value outstanding at March 31, 2025   8.7 8,7
    Additional paid-in capital   118.7 118,7
    Retained earnings   1,009.0 1,036,5
    Other Reserves   37.5 55,2
    Treasury shares   (20.1) (20,1)
    Cumulative income and expense recognized directly in equity   (1.4) (1,1)
    Cumulative translation adjustment   (103.3) (113,3)
    Equity attributable to owners of Viridien S.A.   1,049.2 1,084,7
    Non-controlling interests   38.0 38,1
    Total equity   1,087.2 1,122,8
    TOTAL LIABILITIES AND EQUITY   2,716.7 2,844,3

    See the notes to the Unaudited Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statement of cash flows

        Three months ended March 31,
    (In millions of US$) Notes 2025 2024
    OPERATING ACTIVITIES      
    Consolidated net income (loss)   (28.0) (2.6)
    Less: Net income (loss) from discontinued operations   (0.7) (0.0)
    Net income (loss) from continuing operations   (28.6) (2.6)
    Depreciation, amortization and impairment   21.2 24.2
    Impairment and amortization of Earth Data Surveys   24.3 39.0
    Depreciation and amortization of Earth Data surveys, capitalized   (4.2) (3.8)
    Variance on provisions   (0.7) 0.3
    Share-based compensation expenses   1.1 0.9
    Net (gain) loss on disposal of fixed and financial assets   0.1
    Share of (income) loss in companies recognized under equity method   0.2 0.2
    Other non-cash items   30.9 1.2
    Net cash-flow including net cost of financial debt and income tax   44.3 59.4
    Less: Cost of financial debt   25.8 24.3
    Less: Income tax expense (gain)   12.9 (2.1)
    Net cash-flow excluding net cost of financial debt and income tax   83.0 81.6
    Income tax paid   (4.1) (3.2)
    Net cash-flow before changes in working capital   78.9 78.4
    Changes in working capital   11.6 22.3
    – change in trade accounts and notes receivable   24.9 33.6
    – change in inventories and work-in-progress   6.3 0.2
    – change in other current assets   (0.2) (2.1)
    – change in trade accounts and notes payable   (19.8) 15.4
    – change in other current liabilities   0.0 (24.8)
    Net cash-flow from operating activities   90.5 100.7
           
    INVESTING ACTIVITIES      
    Total capital expenditures (tangible and intangible assets) net of variation of fixed assets suppliers   (61.2) (58.2)
    Proceeds from disposals of tangible and intangible assets   0.0 0.5
    Dividends received from investments in companies under the equity method   0.2
    Total net proceeds from financial assets  
    Variation in other non-current financial assets   2.3 (3.3)
    Net cash-flow from investing activities   (58.9) (60.8)
        Three months ended March 31,
    (In millions of US$) Notes 2025 2024
    FINANCING ACTIVITIES      
    Repayment of long-term debt   (1,074.2) (0.2)
    Total issuance of long-term debt   964.2
    Call premium   (21.9)
    Refinancing transaction costs paid   (11.7)
    Lease repayments   (9.8) (11.8)
    Financial expenses paid   (38.8) 2.0
    Dividends paid and share capital reimbursements:      
    — to owners of Viridien  
    — to non-controlling interests of integrated companies  
    Net cash-flow from financing activities   (192.2) (10.0)
           
    Effects of exchange rates on cash   6.0 (4.1)
    Net cash flows incurred by discontinued operations   (0.3) (2.9)
    Net increase (decrease) in cash and cash equivalents   (155.0) 22.9
    Cash and cash equivalents at beginning of year   301.7 327.0
    Cash and cash equivalents at end of period   146.6 349.9

    See the notes to the Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statements of changes in equity

    Amounts in millions of
    US$, except share data
    Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumulative translation adjustment Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2024 7,136,763 8.7 118.7 980.4 27.3 (20.1) (1.4) (90.8) 1,022.8 41.5 1,064.3
    Net gain (loss) on actuarial changes on pension plan (1)       0.0         0.0   0.0
    Net gain (loss) on cash flow hedges (2)             0.3   0.3   0.3
    Net gain (loss) on translation adjustments (3)               (5.7) (5.7) (0.1) (5.8)
    Other comprehensive income (1)+(2)+(3) 0.0 0.3 (5.7) (5.4) (0.1) (5.5)
    Net income (4)       (3.0)         (3.0) 0.4 (2.6)
    Comprehensive income (1)+(2)+(3)+(4) (3.0) 0.3 (5.7) (8.4) 0.3 (8.1)
    Exercise of warrants                      
    Dividends                  
    Cost of share-based payment       0.8         0.8   0.8
    Variation in translation adjustments generated by the parent company         9.7       9.7   9.8
    Balance at March 31, 2024 7,136,763(a) 8.7 118.7 978.2 37.0 (20.1) (1.1) (96.5) 1,024.9 41.8 1,066.7
    Amounts in millions of
    US$, except share data
    Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumulative translation adjustment Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2025 7,161,465(b) 8.7 118.7 1,036.5 55.2 (20.1) (1.1) (113.3) 1,084.7 38.1 1,122.8
    Net gain (loss) on actuarial changes on pension plan (1)       (0.5)         (0.5)   (0.5)
    Net gain (loss) on cash flow hedges (2)             (0.3)   (0.3)   (0.3)
    Net gain (loss) on translation adjustments (3)               9.9 9.9 0.0 9.9
    Other comprehensive income (1)+(2)+(3)       (0.5) (0.3) 9.9 9.0 0.0 9.1
    Net income (loss) (4)       (27.8)         (27.8) (0.2) (28.0)
    Comprehensive income (1)+(2)+(3)+(4)       (28.4)     (0.3) 9.9 (18.8) (0.1) (18.9)
    Dividends                
    Cost of share-based payment       0.7         0.7   0.7
    Variation in translation adjustments generated by the parent company         (17.7)       (17.7)   (17.7)
    Changes in consolidation scope and other       0.2         0.2   0.2
    Balance at March 31, 2025 7,161,465 8.7 118.7 1,009.0 37.5 (20.1) (1.4) (103.3) 1,049.2 38.0 1,087.2

    (a)   Pro forma following Reverse Share Split
    (b)   Reverse Share Split: Pursuant to a delegation from the Combined General Meeting of shareholders of May 15, 2024, and a sub-delegation from the Board of Directors held on the same day, the Company’s Chief Executive Officer has decided to implement a reverse share split on the basis of 1 new share of €1.00 nominal value for 100 old shares of €0.01 nominal value


    1All variations refer to the same period last year
    2Unless otherwise stated, all figures and comments are referring to “Segment” (i.e. pre-IFRS 15), as defined in the 2024 Universal Registration Document’s glossary, under section 8.7

    Attachment

    The MIL Network

  • MIL-OSI: 2025 Q1 Revenue Report

    Source: GlobeNewswire (MIL-OSI)

    • 2025 Q1 revenue of €232.4 million, down -12.3%
      • Continued implementation of selectivity strategy with priority given to margins, primarily in telecoms in France and Spain
      • High comparison basis: +3.8% in Q1 2024 compared to -5.8% for the full year 2024
    • Growth drivers remain well-oriented
      • Energy up +19.1% (+30.1% in France), representing 18% of the Group’s Q1 revenue
      • Strong momentum in Germany, where the Group has a solid presence, with growth of +20.7% in Q1
    • Ongoing measures to improve performance in the Other Countries segment
      • Growth resumes in Italy: +14.6%, with gradually improving economic conditions
      • Restructuring of Connectivity activities in Spain, with strategic refocusing on Energy and Technology
    In millions of euros (unaudited) Q1 2025 Q1 2024 % change
    Revenue 232.4 265.0         -12.3%
    Benelux 88.7 100.7         -12.0%
    France 76.3 97.9         -22.0%
    Germany 21.9 18.2 +20.7%
    Other Countries 45.5 48.3         -5.8%

    Gianbeppi Fortis, Chief Executive Officer of Solutions30, stated: “In a mixed market environment, we remain firmly committed to our strategy, maintaining a clear focus on margins and cash generation over revenue growth. In France in particular, faced with a fiber deployment market that has reached maturity, we are maintaining a highly selective approach and continuing to refocus on energy services, which now account for 30% of our revenue. In the Benelux, where the market is undergoing reorganization, our telecom business has stabilized compared to the fourth quarter of 2024, and we anticipate a return to growth during the second half of the year. In Germany, we continue to deliver profitable growth in a structured manner, and the investment plan recently announced by the local government reinforces our confidence in the market’s long-term potential. Lastly, in Other Countries, we are progressing with the performance improvement measures announced at our Capital Markets Day, particularly in Spain, where we are undertaking a deep transformation of our operations. We remain confident in the relevance of our multi-technical and multi-local model, the strength of our growth drivers, and our ability to achieve our 2026 targets.”

    Consolidated Revenue

    Solutions30’s Q1 2025 consolidated revenue amounted to €232.4 million, down -12.3% year-on-year against a particularly high comparison basis, as Q1 2024 marked the strongest quarterly growth of 2024, at +3.8%. The comparison basis will be significantly more favorable over the balance of the year, as the last three quarters of 2024 recorded declines of -4.3% in Q2, -10.1% in Q3, and -11.4% in Q4.        

    Revenue change in Q1 includes an organic contraction of -12.8%, the impact of recent acquisitions for +0.2%, and a favorable currency effect of +0.3%.

    Revenue from Connectivity activities amounted to €164.2 million, down -20.0%, in a context of increased selectivity in the Group’s most mature markets, notably France and Spain. Revenue from Energy activities amounted to €41.3 million, up +19.1%, driven by very favorable market trends, particularly in photovoltaic systems in France. Revenue from Technology activities amounted to €26.9 million, up +7.3%, with increased volumes of IT support services.

    Benelux

    The Benelux posted Q1 revenue of €88.7 million, representing 38% of total revenue, down -12.0%. This includes an organic contraction of -12.5%, and the impact from the acquisition of Xperal for +0.5%. Connectivity posted revenue of €67.9 million, down -14% compared to Q1 2024, which did not yet reflect the delays caused, from Q2 onwards, by negotiations between Belgian telecom service providers aimed at streamlining their investments. However, revenue stabilized compared with Q4 2024 (€67.3 million). In the home connect segment, the adaptation of operational processes following Proximus acquiring 100% of Fiberklaar is nearing completion, positioning the business to return to normal at some point in the second half of the year.

    Revenue from Energy activities decreased by -16% to €14.1 million. The first phase of smart meter deployment in Flanders is nearing completion, with tenders for the second phase expected to be launched later this year. At the same time, the gradual ramp-up of the contract with Fluvius for the modernization of the low-voltage electricity grid has begun.

    Technology activities posted revenue of €6.7 million in Q1 2025, up significantly by +26%.

    France

    In France, Q1 revenue amounted to €76.3 million, or 33% of the total, down -22% on a purely organic basis. Revenue from Connectivity fell sharply by -43% to €36.8 million, reflecting the impact of selectivity measures implemented from Q2 2024 onwards. In the context of a structural slowdown in the fiber deployment market, the Group has significantly reduced its exposure to certain contracts that no longer met its profitability standards. While this led to a sharp revenue decline from Q2 onwards, it resulted in an improvement in margins over the full year 2024.

    Energy activities continue to make strong progress, with growth of +30% in Q1 and revenue of €22.8 million, now representing 30% of the total. The good momentum in photovoltaics continues, despite the usually unfavorable seasonal effect in winter. Growth is also being supported by services to electricity and gas distribution networks, where Solutions30 is successfully diversifying its activities.

    In Technology, the momentum in IT support services continues, driven by contract extensions. Revenue amounted to €16.7 million, up +7%.

    Germany

    In Germany, Q1 revenue amounted to €21.9 million, or 9% of the total, up +20.7% on a purely organic basis. Connectivity, which accounts for 95% of the total, posted growth of +22%, driven by fiber deployment activities, which continue to ramp up, while coaxial network services remain solid.

    Although still at an early stage, representing around 5% of revenue, Energy activities offer strong growth potential. Germany is Europe’s leading market for photovoltaics, currently accounting for the bulk of Solutions30’s revenue from Energy activities, while the energy storage and rail signaling infrastructure markets offer particularly attractive growth prospects.

    For both Connectivity and Energy, the investment plan recently announced by the local government reinforces the long-term growth potential of the German market, which is set to play an increasingly important role in Solutions30’s business portfolio.

    Other Countries

    In other countries, the Group posted Q1 revenue of €45.5 million, or 20% of the total, down -5.8%. This includes a -7.2% organic contraction, reflecting the selectivity strategy implemented in Spain and the United Kingdom in 2024. The currency effect was positive at +1.4%, driven by the appreciation of the Polish zloty and the British pound against the euro during the period.

    In Poland, growth remained solid at +11.4%, taking Q1 revenue to €16.2 million. The Polish telecoms market continues to benefit from favorable trends, and Solutions30 is delivering profitable growth there.

    Italy returned to growth, posting a +14.6% increase in Q1, with revenue of €14.9 million. The situation with the Group’s main Italian telecoms customer has now been resolved.

    In Spain, revenue amounted to €7.3 million, down -37.2%. The Group has accelerated the restructuring of its Connectivity business, faced with a mature fiber market, while continuing to refocus on its Energy and Technology businesses, that are supported by favorable underlying trends.

    Finally, in the United Kingdom, revenue totaled €7.1 million, down -22.3% against a high comparison basis (+10% in Q1 2024), as selectivity measures aimed at improving margins in the mobile telecommunications business were not implemented until Q2 2024.

    Appendix

    Breakdown of Q1 revenue by segment:

    In millions of euros (unaudited) Q1 2025 Q1 2024 % change

    Benelux

    88.7 100.7         -12.0%
    Connectivity                                  67.9 78.7 -13.8%
    Energy                                  14.1 16.7 -15.8%
    Technology                                    6.7      5.3 +25,7%
           
    France 76.3 97.9         -22.0%
    Connectivity                                  36.8 64.7 -43.2%
    Energy                                  22.8 17.5 +30,1%
    Technology                                  16.7 15.6 +7,1%
           
    Germany 21.9 18.2 +20.7%
           
    Other Countries 45.5 48.3         -5.8%
    Poland                                  16.2 14.6 +11,4%
    Italy                                 14.9 13.0 +14,6%
    Spain 7.3 11.6 -37.2%
    United Kingdom 7.1 9.2 -22.3%
    Group revenue 232.4 265.0         -12.3%

    Upcoming Events

    TPICAP Conference Paris                   May 15, 2025
    Annual General Meeting                     June 17, 2025
    2025 Half-Year Earnings Report         September 17, 2025 (after market close)
    2025 Q3 Revenue Report                  November 5, 2025 (after market close)

    About Solutions30 SE

    Solutions30 provides consumers and businesses with access to the key technological advancements that are shaping our everyday lives, especially those driving the digital transformation and energy transition. With its network of more than 16,000 technicians, Solutions30 has completed over 65 million call-outs since its inception and led over 500 renewable energy projects with a combined maximum output surpassing 1800 MWp. Every day, Solutions30 is doing its part to build a more connected and sustainable world. Solutions30 has become an industry leader in Europe with operations in 10 countries: France, Italy, Germany, the Netherlands, Belgium, Luxembourg, Spain, Portugal, the United Kingdom, and Poland. The capital of Solutions30 SE consists of 107,127,984 shares, equal to the number of theoretical votes that can be exercised. Solutions30 SE is listed on the Euronext Paris exchange (ISIN FR0013379484- code S30). Indices: CAC Mid & Small | CAC Small | CAC Technology | Euro Stoxx Total Market Technology | Euronext Tech Croissance.
    Visit our website to learn more: www.solutions30.com.

    Contact

    Individual Shareholders:
    Tel: +33 1 86 86 00 63 – actionnaires@solutions30.com

    Analysts/Investors:
    investor.relations@solutions30.com

    Press – Image 7:
    Charlotte Le Barbier – Tel: +33 6 78 37 27 60 – clebarbier@image7.fr

    Attachment

    The MIL Network

  • MIL-OSI USA: 100 DAYS OF INVESTMENT: $5+ Trillion in New Investment Fuels America’s Future

    US Senate News:

    Source: The White House
    President Donald J. Trump has secured over $5 trillion in new U.S.-based investments in his first 100 days, which will create more than 451,000 new jobs as he sets the stage for a new era of American prosperity. From advanced manufacturing to cutting-edge artificial intelligence infrastructure, these historic investments — spurred by President Trump’s unwavering commitment to revitalizing American industry — will reinforce the U.S. as the global leader in innovation and economic growth.
    The announcements keep coming. In recent days:
    IBM announced a $150 billion investment over the next five years in its U.S.-based growth and manufacturing operations.
    Thermo Fisher Scientific announced it will invest an additional $2 billion over the next four years to enhance and expand its U.S. manufacturing operations and strengthen its innovation efforts.
    Corning announced it is expanding its Michigan manufacturing facility investment to $1.5 billion, adding 400 new, high-paying, advanced manufacturing jobs.
    Merck & Co. announced a $1 billion investment to build a new state-of-the-art biologics manufacturing plant in Delaware, which will create at least 500 new jobs — part of the company’s commitment to invest more than $9 billion over the next four years.
    “Since the advent of the 2017 Tax Cuts and Jobs Act, Merck has allocated more than $12 billion to enhance our domestic manufacturing and research capabilities, with additional planned investments of more than $9 billion over the next four years.”

    Amgen announced a $900 million investment in its Ohio-based manufacturing operation.
    The company credited President Trump’s landmark 2017 tax cuts for enabling its rapid expansion: “Pro-growth policies like the @POTUS @WhiteHouse 2017 Tax Cuts and Jobs Act helped make investments like this possible. Since enactment, Amgen has invested ~$5B in capital expenditures. This amounts to an additional downstream output to the U.S. economy of approximately $12B.”

    The Bel Group announced a $350 million investment to expand its U.S.-based production, including at its South Dakota, Idaho and Wisconsin facilities — which will create 250 new jobs.
    Here is the non-exhaustive list of investments secured in President Trump’s second term:
    Project Stargate, led by Japan-based Softbank and U.S.-based OpenAI and Oracle, announced a $500 billion private investment in U.S.-based artificial intelligence infrastructure.
    Apple announced a $500 billion investment in U.S. manufacturing and training.
    NVIDIA, a global chipmaking giant, announced it will invest $500 billion in U.S.-based AI infrastructure over the next four years amid its pledge to manufacture AI supercomputers entirely in the U.S. for the first time.
    IBM announced a $150 billion investment over the next five years in its U.S.-based growth and manufacturing operations.
    Taiwan Semiconductor Manufacturing Company (TSMC) announced a $100 billion investment in U.S.-based chips manufacturing.
    Johnson & Johnson announced a $55 billion investment over the next four years in manufacturing, research and development, and technology.
    Roche, a Swiss drug and diagnostics company, announced a $50 billion investment in U.S.-based manufacturing and research and development, which is expected to create more than 1,000 full-time jobs.
    Eli Lilly and Company announced a $27 billion investment to more than double its domestic manufacturing capacity.
    United Arab Emirates-based ADQ and U.S.-based Energy Capital Partners announced a $25 billion investment in U.S. data centers and energy infrastructure.
    Novartis, a Swiss drugmaker, announced a $23 billion investment to build or expand ten manufacturing facilities across the U.S., which will create 4,000 new jobs.
    Hyundaiannounced a $21 billion U.S.-based investment — including $5.8 billion for a new steel plant in Louisiana, which will create nearly 1,500 jobs.
    Hyundai also secured an equity investment and agreement from Posco Holdings, South Korea’s top steel maker.

    United Arab Emirates-based DAMAC Properties announced a $20 billion investment in new U.S.-based data centers.
    France-based CMA CGM, a global shipping giant, announced a $20 billion investment in U.S. shipping and logistics, creating 10,000 new jobs.
    Thermo Fisher Scientific announced it will invest an additional $2 billion over the next four years to enhance and expand its U.S. manufacturing operations and strengthen its innovation efforts.
    Merck & Co. announced it will invest a total of $9 billion in the U.S. over the next several years after opening a new $1 billion North Carolina manufacturing facility — including in a new state-of-the-art biologics manufacturing plant in Delaware, which will create at least 500 new jobs.
    Clarios announced a $6 billion plan to expand its domestic manufacturing operations.
    Stellantis announced a $5 billion investment in its U.S. manufacturing network, including re-opening its Belvidere, Illinois, manufacturing plant.
    Regeneron Pharmaceuticals, Inc., a leader in biotechnology, announced a $3 billion agreement with Fujifilm Diosynth Biotechnologies to produce drugs at its North Carolina manufacturing facility.
    NorthMark Strategies, a multi-strategy investment firm, announced a $2.8 billion investment to build a supercomputing facility in South Carolina.
    Corning announced it is expanding its Michigan manufacturing facility investment to $1.5 billion, adding 400 new high-paying advanced manufacturing jobs for a total of 1,500 new jobs.
    Chobani, a Greek yogurt giant, announced a $1.2 billion investment to build its third U.S. dairy processing plant in New York, which is expected to create more than 1,000 new full-time jobs — adding to the company’s earlier announcement that it will invest $500 million to expand its Idaho manufacturing plant.
    GE Aerospace announced a $1 billion investment in manufacturing across 16 states — creating 5,000 new jobs.
    Amgen announced a $900 million investment in its Ohio-based manufacturing operation.
    Schneider Electric announced it will invest $700 million over the next four years in U.S. energy infrastructure.
    GE Vernova announced it will invest nearly $600 million in U.S. manufacturing over the next two years, which will create more than 1,500 new jobs.
    Abbott Laboratories announced a $500 million investment in its Illinois and Texas facilities.
    AIP Management, a European infrastructure investor, announced a $500 million investment to solar developer Silicon Ranch.
    London-based Diageo announced a $415 million investment in a new Alabama manufacturing facility.
    Dublin-based Eaton Corporation announced a $340 million investment in a new South Carolina-based manufacturing facility for its three-phase transformers.
    Germany-based Siemens announced a $285 million investment in U.S. manufacturing and AI data centers, which will create more than 900 new skilled manufacturing jobs.
    The Bel Group announced a $350 million investment to expand its U.S.-based production, including at its South Dakota, Idaho and Wisconsin facilities — which will create 250 new jobs.
    Clasen Quality Chocolate announced a $230 million investment to build a new production facility in Virginia, which will create 250 new jobs.
    Fiserv, Inc., a financial technology provider, announced a $175 million investment to open a new strategic fintech hub in Kansas, which is expected to create 2,000 new, high-paying jobs.
    Paris Baguette announced a $160 million investment to construct a manufacturing plant in Texas.
    TS Conductor announced a $134 million investment to build an advanced conductor manufacturing facility in South Carolina, which will create nearly 500 new jobs.
    Switzerland-based ABB announced a $120 million investment to expand production of its low-voltage electrification products in Tennessee and Mississippi.
    Saica Group, a Spain-based corrugated packaging maker, announced plans to build a $110 million new manufacturing facility in Anderson, Indiana.
    Charms, LLC, a subsidiary of candymaker Tootsie Roll Industries, announced a $97.7 million investment to expand its production plant and distribution center in Tennessee.
    Toyota Motor Corporation announced an $88 million investment to boost hybrid vehicle production at its West Virginia factory, securing employment for the 2,000 workers at the factory.
    AeroVironment, a defense contractor, announced a $42.3 million investment to build a new manufacturing facility in Utah.
    Paris-based Saint-Gobain announced a new $40 million NorPro manufacturing facility in Wheatfield, New York.
    India-based Sygene International announced a $36.5 million acquisition of a Baltimore biologics manufacturing facility.
    Asahi Group Holdings, one of the largest Japanese beverage makers, announced a $35 million investment to boost production at its Wisconsin plant.
    Cyclic Materials, a Canadian advanced recycling company for rare earth elements, announced a $20 million investment in its first U.S.-based commercial facility, located in Mesa, Arizona.
    Guardian Bikes announced a $19 million investment to build the first U.S.-based large-scale bicycle frame manufacturing operation in Indiana.
    Amsterdam-based AMG Critical Minerals announced a $15 million investment to build a chrome manufacturing facility in Pennsylvania.
    NOVONIX Limited, an Australia-based battery technology company, announced a $4.6 million investment to build a synthetic graphite manufacturing facility in Tennessee.
    LGM Pharma announced a $6 million investment to expand its manufacturing facility in Rosenberg, Texas.
    ViDARR Inc., a defense optical equipment manufacturer, announced a $2.69 million investment to open a new facility in Virginia.
    That doesn’t even include the U.S. investments pledged by foreign countries:
    United Arab Emirates announced a $1.4 trillion investment in the U.S. over the next decade.
    Saudi Arabia announced it intends to invest $600 billion in the U.S. over the next four years.
    Japan announced a $1 trillion investment in the U.S.
    Taiwan announced a pledge to boost its U.S.-based investment.

    MIL OSI USA News

  • MIL-OSI Economics: U.S. Energy Storage Industry Commits $100 Billion Investment in American-Made Grid Batteries

    Source: American Clean Power Association (ACP)

    Headline: U.S. Energy Storage Industry Commits $100 Billion Investment in American-Made Grid Batteries

    WASHINGTON, D.C., April 29, 2025 – Today the American Clean Power Association (ACP), on behalf of the U.S. energy storage industry, announced a historic commitment to invest $100 billion into building and buying American-made grid batteries. This investment is expected to fuel the creation of 350,000 jobs across the battery energy storage industry and transform the United States into a global battery manufacturing leader.  
    This announcement aligns with actions taken by the Trump Administration to unleash American energy and develop critical minerals in the United States. The industry’s investment will advance a manufacturing expansion in the United States with the aim of enabling American-made batteries to meet 100% of domestic energy storage project demand.
    “The energy storage industry is providing essential power when needed most while boosting domestic manufacturing and creating jobs across the country,” said Jason Grumet, CEO of ACP. “Today’s historic commitment will invest billions of dollars into American communities and position the United States as a manufacturing leader in battery technology that is critical to national and grid security.”   
    Building a Pathway to 100% American-Made Grid Batteries 
    The U.S. energy storage industry is committed to investing $100 billion in American grid batteries, including both capital for building new battery manufacturing facilities and procurement of American-made batteries for U.S. energy storage projects. Through this commitment, the industry will advance American battery manufacturing leadership, enhance U.S. energy security, provide energy affordability and reliability, and drive international competitiveness.  
    This investment represents a clear pathway to supplying 100% of U.S. energy storage projects with American-made batteries by 2030. A pro-business environment, supported by stable tax and trade policy and streamlined permitting, is essential to the industry fulfilling this commitment. 
    Booming U.S. Energy Storage Deployments Fuel Manufacturing Resurgence 
    Battery energy storage is now a leading energy resource boosting electric grid reliability and keeping energy costs low for families and businesses across America. Since FERC Order 841 was issued in 2018, energy storage deployment has grown 25x. The ongoing growth in energy storage deployment is driving investment in American battery manufacturing facilities.  
    The energy storage industry is making significant progress in laying the groundwork for a domestic battery energy storage supply chain, building or expanding more than 25 manufacturing facilities for grid-scale energy storage. With today’s investment commitment, the industry has announced plans to rapidly expand ongoing efforts.  
    The Role of Battery Storage in Unleashing American Energy Dominance 
    As communities across the country grapple with skyrocketing energy demand, aging grid infrastructure, and concerns over reliability, battery energy storage is providing a ready-to-deploy solution to these challenges.  
    Energy storage optimizes all existing power generation, lowering energy bills and hardening the grid against extreme weather events like blizzards and heat waves. As the economy grows, energy storage provides important peaking capacity, freeing up more gas generation to serve as base load and enabling more energy production.  
    Energy storage has also been critical for supporting American industrial and technological might, from metals manufacturing in West Virginia to new data centers and AI infrastructure in Texas and Arizona. The need for energy storage resources continues to be strong across the country, as 31 states currently have energy storage projects under construction. 
    “Form Energy is proud to be ramping up manufacturing at Form Factory 1 in Weirton, West Virginia, advancing our mission to strengthen the U.S. electric grid with domestically produced, multi-day energy storage. Situated on the historic site of the former Weirton Steel mill—a cornerstone of America’s industrial past—the newly built Form Factory 1 is proving that America’s greatest manufacturing epoch isn’t behind us; it’s unfolding now.” Mateo Jaramillo, Co-founder & CEO of Form Energy, noted, “This investment in American manufacturing not only supports the creation of high-quality jobs in West Virginia but also ensures that the U.S. remains a leader in energy innovation. As the energy storage industry commits to investing $100 billion in American-made grid batteries by 2030, Form Energy is excited to play a key role in building a more reliable, resilient, and secure energy future for our country.” 
    “Fluence investments in American battery cell, module, enclosure, thermal management, and controls manufacturing are delivering domestic energy storage products starting this year and will help power U.S. economic growth for decades to come,” said John Zahurancik, Fluence President, Americas. “Our manufacturing facilities in Utah, Texas, Tennessee, and Arizona support more reliable and cost-effective energy production while creating a resilient U.S. supply chain that advances American innovation, jobs, and energy security. These investments are about building the future of energy—right here in the United States.” 
    “LG Energy Solution is fully committed to expanding US energy storage manufacturing, with our fist factory lines expected to begin production in 2025 in Holland, Michigan, where we will adapt existing lines to provide 16.5GWh of ESS batteries, with an additional11GWh of capacity planned for the beginning of 2026.” Said Jaehong Park, CEO, LG Energy Solution Vertech. “We have expanded our investment in US manufacturing to meet rising demand; we have currently committed $1.4 billion to our production plan in Holland, MI, with additional investments and capacity expansion to come.” 
    “Battery energy storage is keeping the lights on and costs low for consumers across the county. Developers are committed to sourcing batteries made in America to deploy this essential energy resource to more Americans for energy stability and cost savings in the face of increasing demand,” said Stephanie Smith COO, Eolian. “As manufacturers begin ramping up domestic supply, streamlining federal and state policies and permitting processes will make the difference in getting this industry moving quickly and competitively.” 
    “Battery energy storage is key to meeting America’s rapidly expanding electricity needs,” said Craig Cornelius, President and CEO of Clearway Energy Group. “As we deploy energy storage at record pace, this investment reflects the industry’s commitment to building these critical grid infrastructure projects with American-made batteries.”

    MIL OSI Economics

  • MIL-OSI: VSORA Raises $46 Million to Bring World’s Most Powerful AI Inference Chip to Market

    Source: GlobeNewswire (MIL-OSI)

    • Europe’s only provider of more powerful, energy-efficient and cost-effective AI Chips than other solutions from global market leaders
    • Funding will enable VSORA to produce its cutting-edge AI chip in 2025

    PARIS, April 29, 2025 (GLOBE NEWSWIRE) — VSORA, a French innovator and the only European provider of ultra-high-performance artificial intelligence (AI) inference chips, today announced that it has successfully raised $46 million in a new fundraising round.

    The investment was led by Otium and a French family office with additional participation from Omnes Capital, Adélie Capital and co-financing from the European Innovation Council (EIC) Fund.

    In citing their reasons for investing in VSORA, all recognize that VSORA is poised to establish itself as a global leader in AI chips by redefining cost-effective, high-performance AI inference deployment at scale with a purpose-built architecture that overcomes inherent GPU limitations.

    “This funding marks a pivotal moment for VSORA as we accelerate our mission to revolutionize AI chips and ensure Europe’s technological sovereignty in AI computing,” says Khaled Maalej, VSORA Founder and CEO. “It will drive the finalization of our technology and the launch of our production, enabling VSORA to play a crucial role as the sole alternative to non-European chip designers. We are grateful for our investors’ trust and look forward to continuing our collaboration with industry leaders to bring our chip to market.”

    The new funding will support the production stage of VSORA’s Jotunn8 (J8) chip targeted for silicon in 2025. VSORA has forged partnerships with global semiconductor industry leaders, ensuring access to cutting-edge technologies and production capabilities that meet the highest standards of quality and performance.

    In parallel, VSORA continues to move forward with strategic stakeholders to prepare for the industrialization phase, paving the way for the emergence of a key global European player in AI chip innovation.

    “In a market dominated by global giants like Nvidia, VSORA is a unique opportunity for France and Europe, home to world-class engineering talent,” comments Gaspard de Veyrac, Principal at Otium. “Otium is proud to provide them with the means to realize their ambitions. With this funding, VSORA has the necessary tools to reshape the future of AI computation and secure a significant position in the global AI chip market.”

    VSORA and Jotunn8
    Founded in France, VSORA is working to reshape the future of AI inference by revolutionizing AI processing with its unique chip engineered for superior performance and efficiency and set to redefine AI inference processing. It is designed for key applications such as generative AI—ChatGPT, for instance—in data centers, autonomous driving, robotics and edge AI.

    The explosive growth of AI and generative AI applications has ignited an urgent demand for high-performance, cost-effective inference solutions. AI inference—the process of deploying trained AI models to generate real-time insights and predictions—is projected to grow at a 16% CAGR from $124 billion in 2025 to $255 billion in 2030.

    The Jotunn8 (J8) chip shatters performance barriers of conventional GPUs, delivering concrete performance that surpasses today’s AI chips from global-leading industry players. Specifically, J8 delivers more than three times the performance of existing solutions while consuming less than half the power. This significant leap in efficiency addresses the critical challenges of deployment cost, cost per query and energy consumption in large-scale AI deployment.

    Offering 3,200 teraflops of compute power, the J8 chip shatters the performance barriers of conventional GPUs, delivering real-world performance that surpasses today’s AI accelerators.

    Unlike traditional accelerators optimized for training, VSORA’s technology focuses on inference making it ideal for latency-sensitive applications. It increases throughput and reduces the processing cost and cost per query.

    About VSORA
    VSORA provides high-performance silicon solutions for AI data center inference, autonomous driving, robotics and edge AI applications. Founded in 2015 by a team of DSP experts, AI scientists and engineers with a long history of successes, VSORA has offices in France and Taiwan.

    Connect with VSORA:
    Website: www.vsora.com
    Email: info@vsora.com
    Linkedin: https://www.linkedin.com/company/vsora/

    About Otium
    Otium is a long-term investment holding company founded in 2009 by Pierre Edouard Sterin. With €1.6 billion ($1,892 billion) in assets as of December 31, 2024, spread across more than 1,310 investments—including the Smartbox group and stakes in French unicorns PayFit and Owkin—Otium invests amounts ranging from a few hundred thousand euros to several tens of millions of euros. Companies are funded at every stage of their development, from seed funding to growth capital, and Otium takes either majority or minority stakes with no holding period constraints. Otium pursues a diversification strategy by financing projects in tech, industrials, leisure, healthcare, hospitality and real estate. Otium invested €255 million in 2024. www.otiumcapital.com

    About Omnes Capital
    Omnes is a leading private equity firm dedicated to energy transition. With over €6.7 billion ($7,580 billion) in assets under management, our teams support long-term partnerships with entrepreneurs through our four core businesses: renewable energy, sustainable cities, deep tech and co-investment. For over 20 years, Omnes has been applying its expertise to help businesses grow in more than 15 countries, with a particular focus on sustainable development. As part of its approach as a responsible investor, the company has created the Omnes Foundation to support non-profit organizations working for children and young people in the fields of education, health, social and economic integration. www.omnescapital.com

    About EIC Fund
    The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance. The European Investment Bank acts as investment adviser to the EIC Fund.

    The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.

    The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.
    https://eic.ec.europa.eu/eic-fund_en

    For more information, contact:
    Nanette Collins
    Public Relations for VSORA
    nanette@nvc.com

    The MIL Network

  • MIL-OSI Africa: Africa aims for greater influence in global economic policies at G20

    Source: South Africa News Agency

    South Africa’s Presidency of the Group of 20 (G20) has been a significant milestone for African representation in global economic decision-making. 

    This is according to Deputy President Paul Mashatile, who underscored Africa’s strategic vision to reshape global economic frameworks and assert the continent’s interests on the world stage.

    Delivering a keynote address at the T20 Africa High-Level Policy Dialogue in Pretoria, he emphasised both the continent’s potential and its challenges.

    “This gathering emphasises the need for Africa to address the persistent challenges of economic development, political instability, and governance weaknesses. 

    “It calls for a critical evaluation of current interventions aimed at strengthening Africa’s priorities, including economic growth, sustainable development, and global governance reforms. Africa is ours, and we must create the Africa we want,” the hold the attendees. 

    The T20, or Think 20, produces, discusses, consolidates and presents ideas on how to face current and emerging challenges that may be addressed by the G20. 

    Key themes included leveraging the continent’s young population, promoting the African Continental Free Trade Area (AfCFTA), and addressing systemic challenges such as unemployment, especially youth joblessness, infrastructure gaps, and economic marginalisation. 

    WATCH | T20 Africa High-Level Policy Dialogue

    The country’s second-in-command stressed the importance of digitalisation, artificial intelligence, and emerging technologies as critical tools for African development.

    According to the Deputy President, South Africa’s representative underscored the significance of the African Union’s new permanent membership in the G20, calling it a “transformational moment in global governance”.

    He said South Africa’s Presidency’s theme of “Solidarity, Equality, and Sustainability” aims to reimagine multilateralism and prioritise the needs of the Global South.

    Critical priorities include mobilising finance for a Just Energy Transition, ensuring debt sustainability for developing economies, and creating strategic approaches to critical mineral development that prioritise local value addition.

    Mashatile believes that the dialogue represents a crucial step in positioning Africa as an active participant in global economic discussions, rather than a passive recipient of international policies.

    He said Africa currently stands at a crucial juncture in its development journey, with a growing population and vast natural resources, yet it remains underdeveloped.

    The Deputy President is of the view that the presence of a youthful population offers a range of possibilities for the development of the continent.

    He also touched on the challenges facing multilateralism, which have been apparent for an extended period. 

    “Therefore, we should take a dim view and strongly discourage the erosion of multilateralism, as it poses a potential threat to global growth and stability. A fair, transparent, equitable, and inclusive international order is essential for economic stability and sustained growth.” 

    He warned that the ongoing trade tensions may result in a rising cost of living due to increased prices, particularly for manufactured goods, potentially exacerbating the sluggish economic growth across our continent. 

    “It is necessary that we respond collectively and decisively as Africans, while increasing capacity and capability to reduce dependency.“

    According to the Deputy President, a fair, inclusive global order is possible, but it requires leadership grounded in equity, responsibility, and cooperation. 

    “The G20 should form part of this as we seek to unite as country states and develop policies that are progressive for the interest of all. We intend to work with like-minded countries and progressive institutions to establish a more equitable, representative, and just international order.” 

    While the G20 is not a substitute for existing international institutions, he said it must complement and accelerate progress on already agreed global commitments.

    “Let us remember that the strength of the G20 lies in its diversity and inclusivity. Strengthening African agency within this framework not only empowers African States but also increases the credibility and efficacy of global governance. 

    “South Africa’s G20 Presidency will remain accountable to the continent and to its people.” – SAnews.gov.za 

    MIL OSI Africa

  • MIL-OSI Africa: FAMAR Strengthens Angolan Downstream, Returns as Silver Sponsor of Angola Oil & Gas (AOG) 2025

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

    LUANDA, Angola, April 29, 2025/APO Group/ —

    Bunkering and maritime services company FAMAR has joined the sixth edition of the Angola Oil & Gas (AOG) conference as a Silver Sponsor, reinforcing its commitment to Angola’s growing downstream sector. As the company expands its port infrastructure to support offshore oil and gas operations, FAMAR’s presence at AOG 2025 will facilitate new opportunities for industry collaboration and investment. 

    With extensive operations across Angola’s ports, FAMAR plays a key role in the distribution and trade of petroleum products and services. The company is actively modernizing port infrastructure with integrated solutions in fuel storage, management and ship repair. 

    At AOG 2024, FAMAR signed a Memorandum of Understanding with construction firm Angobetumes to jointly manage two fuel storage tanks at the Port of Luanda and three tanks at the Lobito Terminal. All five tanks have been certified by national authorities for the storage and marketing of petroleum, strengthening Angola’s fuel storage capacity in strategic locations. 

    Beyond fuel storage, FAMAR offers a wide range of maritime services including passenger and cargo transport, training and vessel chartering. The company supplies marine fuels – such as Marine Diesel MGO and Fuel Oil IFO 180 cts – for all ship types and facilitates both import and export of refined petroleum products. FAMAR also manages full-cycle maintenance and repair for a variety of floating marine assets, playing a vital role in supporting Angola’s offshore oil and gas projects. Notable partnerships include work with Azule Energy on Block 18, as well as contributions to the Platina Oil Field and Greater Plutonio developments. 

    AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    MIL OSI Africa

  • MIL-OSI USA: Chairwoman Lisa McClain, Chairman Guthrie, and Rep. Salazar Celebrate the House Passing Legislation to Protect Children from Deepfake Exploitation

    Source: US House of Representatives Republicans

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

    WASHINGTON— House Republican Chairwoman Lisa McClain (R-Mich.), Chairman of the House Committee on Energy and Commerce Brett Guthrie (R-Ky.), and Congresswoman Maria Elvira Salazar (R-Fla.) released the following statements after the U.S. House of Representatives passed the Tools to Address Known Exploitation by Immobilizing Technological Deepfakes on Websites and Networks (TAKE IT DOWN) Act:

    “I’m proud to have voted in favor of the TAKE IT DOWN Act. This important legislation will protect our kids from deepfake exploitation and hold the perpetrators of these horrifying crimes accountable. I want to thank Congresswoman Salazar for leading the bill, Chairman Guthrie for getting it across the floor, and First Lady Melania Trump for supporting victims and their families,” Chairwoman McClain said.

    “Thank you to the many supporters, and especially the survivors, whose stories and steadfast advocacy helped us take quick, decisive, and targeted action to prevent the spread of explicit, non-consensual AI-generated images, including giving law enforcement the tools they need to stop these predators. Our work does not end here, as the Committee on Energy and Commerce remains committed to protecting kids and all Americans from online predators and other 21st century threats to their health and well-being,” Chairman Guthrie said.

    “My TAKE IT DOWN Act’s passage is a bipartisan victory to protect victims of real and deepfake revenge pornography. This bill shows Congress at its best, working together to empower victims, especially women and girls. It equally holds offenders and Big Tech accountable. Special thanks to Speaker Johnson, Leader Scalise, Whip Emmer, and Conference Chair McClain for their leadership in getting this done,” Congresswoman Salazar said

    Chairwoman McClain has expressed her support for this bill, including during a roundtable discussion with the First Lady in April.

    The bill criminalizes the publication of non-consensual intimate images (“NCII”) or the threat to publish NCII in interstate commerce. The bill requires covered internet platforms to establish and implement a notice and takedown process within one year of enactment. 

    MIL OSI USA News

  • MIL-OSI Economics: STATEMENT: CanREA congratulates the Liberal Party of Canada for their re-election  

    Source: – Press Release/Statement:

    Headline: STATEMENT: CanREA congratulates the Liberal Party of Canada for their re-election  

    CanREA eager to resume positive work with the federal government to advance wind energy, solar energy and energy storage initiatives nationwide. 

    Ottawa, Ontario, April 29, 2025—The Canadian Renewable Energy Association (CanREA) congratulates Prime Minister Mark Carney and the Liberal Party of Canada for their election today, forming a minority government. At press time, votes were still being counted with many ridings too close to call. 

    “CanREA looks forward to strengthening our collaboration with the Canadian government to advance clean-energy initiatives nationwide. Expanding investments in wind, solar, and energy storage technologies is essential for safeguarding Canada’s economic sovereignty while delivering affordable, reliable and clean energy solutions. The urgency to act has never been greater,” said Vittoria Bellissimo, CanREA’s President and CEO. 

    During the campaign, Mr. Carney and the Liberal Party committed to a suite of proposals that support the rapid deployment of clean energy. These include: 

    Finalizing the Clean Economy Investment Tax Credits (ITCs), policies that have already galvanized private sector investment in Canada’s renewable energy and energy storage industry. Getting the remaining ITCs passed into law, particularly the Clean Electricity ITC, will secure Canada’s position as a competitive and safe place for the private sector to invest. These will also help lower the cost of electricity to Canadian ratepayers. 
    Reducing the barriers that Indigenous companies and communities face when it comes to accessing capital, by expanding the kinds of projects the Canada Infrastructure Bank can support to be more in line with First Nation, Inuit and Métis priorities. The Liberals also committed to exploring options for an Indigenous Infrastructure Bank to further address this gap. 
    Offering support for Canadians entering the trades, while also helping to reduce barriers that these skilled workers face when working in another province. 
    Creating a new First and Last Mile Fund that will move more electricity and goods from where they are produced to where they are needed, creating a more integrated and accessible Canadian economy. 
    Signing new Cooperation and Substitution Agreements with all willing provinces, territories, and Indigenous Governing Bodies within six months, ensuring that projects go through only one review that upholds environmental standards and Indigenous consultation. 
    Cementing the signal for electrification by maintaining the industrial carbon price. During his leadership campaign, Mr. Carney even promised to set a pricing schedule out to 2035—this would be a strong signal upon which Canada’s renewable energy and energy storage industry could rely. 
    “We are ready to work with all 343 MPs to deliver on legislation that will accelerate the development of the new renewable energy and energy storage projects Canada needs to meet its economic and environmental goals,” said Fernando Melo, CanREA’s Federal Director.  

    “CanREA will continue to champion the speedy introduction of legislation that will enable the Clean Electricity ITC and other tools to improve Indigenous communities’ and companies’ access to capital. We are also committed to working with the new Liberal government to secure Canada’s clean-energy supply chains during this period of uncertainty,” said Melo.  

    Quotes  

    “CanREA looks forward to strengthening our collaboration with the Canadian government to advance clean-energy initiatives nationwide. Expanding investments in wind, solar, and energy storage technologies is essential for safeguarding Canada’s economic sovereignty while delivering affordable, reliable and clean energy solutions. The urgency to act has never been greater.”   

    —Vittoria Bellissimo, President and CEO, Canadian Renewable Energy Association (CanREA) 

    “We are ready to work with all 343 MPs to deliver on legislation that will accelerate the development of the new renewable energy and energy storage projects Canada needs to meet its economic and environmental goals. CanREA will continue to champion the speedy introduction of legislation that will enable the Clean Electricity ITC and other tools to improve Indigenous communities’ and companies’ access to capital. We are also committed to working with the new Liberal government to secure Canada’s clean-energy supply chains during this period of uncertainty.” 

    —Fernando Melo, Federal Director, Canadian Renewable Energy Association (CanREA) 

    For media interview opportunities, please contact:

    Bridget Wayland, Senior Director of CommunicationsCanadian Renewable Energy Associationcommunications@renewablesassociation.ca

    About CanREA

    The Canadian Renewable Energy Association (CanREA) is the voice for wind energy, solar energy and energy storage solutions that will power Canada’s energy future. We work to create the conditions for a modern energy system through stakeholder advocacy and public engagement. Our diverse members are uniquely positioned to deliver clean, low-cost, reliable, flexible and scalable solutions for Canada’s energy needs. For more information on how Canada can use wind energy, solar energy and energy storage to help achieve its net-zero commitments, consult “Powering Canada’s Journey to Net-Zero: CanREA’s 2050 Vision.” Follow us on X and LinkedIn. Subscribe to our newsletter here. Become a member here. Learn more at renewablesassociation.ca.
    The post STATEMENT: CanREA congratulates the Liberal Party of Canada for their re-election   appeared first on Canadian Renewable Energy Association.

    MIL OSI Economics

  • MIL-OSI: Bitget Wallet Integrates Sui to Boost Cross-Chain Trading Capabilities

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, April 29, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading non-custodial Web3 wallet, has expanded its cross-chain trading capabilities to include the Sui Network. The new integration enables users to bridge assets from major blockchains such as Solana and BNB Chain directly to Sui, supporting seamless trading of popular Sui-based tokens like $WAL, $DEEP, and $CETUS within the wallet app.

    The integration streamlines cross-chain activity by allowing users to complete swaps across networks in a single transaction, eliminating the need for manual bridging or multiple wallets. Bitget Wallet has also introduced a dedicated Sui DApp section, providing users with access to airdrops, ecosystem activities, and trading opportunities as the Sui ecosystem continues to expand.

    Sui, developed by Mysten Labs, is a Layer 1 blockchain designed to prioritize speed, scalability, and low transaction costs. Its object-based architecture and use of the Move programming language aim to unlock new opportunities for DeFi, NFTs, and gaming applications. Bitget Wallet’s support for Sui reflects its strategy to connect users with emerging ecosystems that are driving innovation across Web3.

    To further enhance the user experience, Bitget Wallet plans to launch the GetGas feature for Sui, allowing users to pay gas fees with stablecoins such as USDT and USDC. The feature is expected to simplify on-chain participation by removing the need to acquire native gas tokens separately. Currently, Bitget Wallet supports over 130 public chains and facilitates cross-chain transactions across more than 27 networks.

    As we expand cross-chain capabilities, our goal is to make it easier for users to engage with emerging ecosystems like Sui,” said Alvin Kan, COO of Bitget Wallet. “Our upcoming GetGas feature will remove another major barrier to entry, offering a more seamless experience for users exploring new opportunities across Web3.

    About Bitget Wallet
    Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple, secure, and accessible for everyone. With over 60 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, a DApp browser, and crypto payment solutions. Supporting 130+ blockchains, 20,000+ DApps, and a million tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets.

    For more information, visit: XTelegramInstagramYouTubeLinkedInTikTokDiscordFacebook

    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dae92455-f634-499c-bff0-1ed8d72cc26e

    The MIL Network

  • MIL-OSI: cBrain aims to create and lead two new global solution niches

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement no. 05/2025

    cBrain aims to create and lead two new global solution niches

    Copenhagen, April 29, 2025

    The faster-than-anticipated shift in the government IT market toward COTS government software presents new strategic opportunities for cBrain. As a result, cBrain (NASDAQ: CBRAIN) has announced to adjust its growth strategy during the first half of 2025 to capitalize on these market changes.

    Consequently, the growth strategy is extended by adding a focus on two market niches with global potential. Utilizing a strong financial position, cBrain is now building two new units, dedicated to achieving global leadership in two global solution areas, referred to as Paperless Ministry and Environmental Permitting.

    Solid development in Denmark and internationally

    cBrain has entered the year as planned with continued development in Denmark and international markets.

    In January, cBrain announced an agreement to deliver the F2 Digital platform for the new Danish Ministry of Resilience and Preparedness. The F2 solution was configured for the ministerial work, ready-to-go-live, in 3 weeks.

    In March cBrain announced the successful delivery of the F2 Digital platform for the Danish Energy Agency. F2 has been configured as a grant management solution to support the heat pump subsidy program. At launch the agency said the new solution exceeded all expectations, with almost 70% of all applications being processed fully automatically, and the first 930 citizen applications approved within only minutes of launching the subsidy program.

    In Germany, cBrain continues deploying F2 with the agency that administrates public pensions. Several thousand users have gone live during the first months of the year, and cBrain has won a new tender extending the scope of work.

    In Romania, cBrain’s partner has won a public tender to deliver a new national platform for administrating citizen pensions. F2 is now being configured as the case management and processing kernel, supporting close to 100 different administrative processes and integrating with multiple other systems. cBrain sees the project as a milestone both technically and strategically, demonstrating the power of the F2 Service Builder and the early success of the F2-for-Partner strategy.

    Taking leadership within Paperless Ministry and Environmental Permitting

    The long-term cBrain growth strategy is founded on a vision and a business case to provide standard software for government. Working in close collaboration with Danish government for 15 years, cBrain has invested more than 450,000 hours in developing the F2 platform.

    Today, almost all Danish ministries, and more than 75 Danish authorities in total, use F2 as their digital platform. Internationally, cBrain has delivered F2 to government organizations across five continents. With Denmark ranked number one in the United Nations E-Government Survey for the past eight years, this offers cBrain a strong first-mover advantage and a solid reference position.

    Leveraging the F2 software platform, cBrain is executing an ambitious international growth plan with the aim of becoming a global leader in the fast emerging market for Commercial Off-The-Shelf (COTS) software built for government.

    With the 2024 Annual Report, cBrain stated that the transition from custom-built IT solutions to standardized platforms seems to emerge faster than anticipated. This assumption seems to be continuously validated throughout the spring. An increasing number of competitors are repositioning themselves as COTS suppliers, and the White House issued an executive order in April directing the administration to prioritize the procurement of commercial off-the-shelf solutions rather than procuring custom products and developing systems.

    The faster-than-anticipated shift in the government IT market toward COTS government software presents new strategic opportunities for cBrain. As a result, cBrain has announced an adjustment to its growth strategy during the first half of 2025 to capitalize on these market changes.

    The core of cBrain’s growth strategy is built on serving large government clients, securing steady, sustainable growth through long-term software subscriptions, and accelerating international growth through the F2-for-Partners concept.

    The growth strategy is now being extended by adding a focus on two market niches with global potential. Utilizing a strong financial position, cBrain is now building two new units, dedicated to achieving global leadership in two global solution areas, referred to as Paperless Ministry and Environmental Permitting.

    The F2 Paperless Ministry Solution

    cBrain has built a strong home market position in Denmark. This position has been achieved by taking leadership as the supplier of the F2 Paperless Ministry solution, which today is the digital platform for almost all Danish ministries.

    In the autumn 2024 the Danish government announced 3 new ministries, and in January cBrain announced that all 3 new ministries have now chosen F2 as their digital platform. The F2 ministry solution was installed and configured, ready to go live within only 3 weeks. The new ministerial projects demonstrate the power of Commercial Off-The-Shelf (COTS) for government solutions and consolidate cBrains unique position in the Danish market.

    Building from the paperless ministry leadership position, cBrain has successfully been able to expand outside the ministerial solution niche into the broad Danish government market. Today serving more than 75 Danish government organizations with a large catalog of citizen-facing solutions, from tax solutions and auditing to grants management, inspections, licensing, and family affairs.

    A key pillar of the expanded growth strategy is to replicate the Danish success by establishing bridgeheads in new international markets, based on a focused, vertical go-to-market approach centered around the Paperless Ministry offering. The ultimate goal is to achieve global niche leadership, thereby securing a strong foundation for future growth.

    cBrain is currently testing and validating the new strategic Paperless Ministry initiative, with market initiatives in Europe and Africa.

    In Europe, cBrain is still working to establish contacts with ministries in selected countries. In Africa, the initial market activities have led to a pilot project, where the Danish Paperless Ministry solution was configured and made ready to go live for a Kenyan ministry in just 10 weeks.

    cBrain is now developing a go-to-market plan for the African region, working closely with Danish embassies in Africa and aligning with the UNDP Digital Offer for Africa strategy. This builds on the partnership with UNDP announced in November 2024. cBrain sees the African Paperless Ministry solution, leveraging Danish government experience, as a unique tool to help African governments achieve fast digital transformation.

    Environmental Permitting

    As a second pillar of its expanded growth strategy, and in parallel with the Paperless Ministry initiative, cBrain has launched an ambitious initiative to position the F2 Environmental Permitting solution as a strategic niche offering, aiming to take a leading international market position.

    The importance of environmental assessment and permitting is growing worldwide. Government review and permitting processes are required for many infrastructure projects, including roads, bridges, mines, factories, and power plants. In April 2025, the White House issued an executive order stating that executive departments and agencies shall make maximum use of technology in environmental review and permitting processes for infrastructure projects of all kinds.

    In close collaboration with the Danish Environmental Protection Agency (EPA), cBrain has developed an F2 based Environmental Permitting solution that eliminates the use of paper-based applications and accelerates case processing time and quality.

    In July 2024, the White House Council on Environmental Quality (CEQ) issued a report to Congress that assesses and recommends technologies to improve environmental reviews and permitting processes. In this report, the cBrain F2 Platform is highlighted as a successful process and AI tool for environmental permitting.

    cBrain therefore views environmental permitting as a potential niche entry point into the U.S. market, at both the federal and state levels, supporting its decision to invest in this area as the second pillar of its expanded growth strategy.

    cBrain maintains its financial guidance for 2025

    cBrain has provided financial guidance for the year, with an expected revenue growth of 10-15% and EBT (Earnings Before Tax) of 18-23%. cBrain maintains its financial guidance for 2025.

    The allocation of leadership and delivery resources to support the new niche initiatives may temporarily slow current activities. However, the expanded growth strategy is expected to drive new business and accelerate overall growth over time. Depending on the pace of success, executing the expanded growth strategy therefore introduces uncertainty to the 2025 revenue outlook, both on the upside and downside.

    In the 2025 budget cBrain has allocated extra one-time costs to market expansion of approximately 4 million Euro to support the revised strategy. These costs are fully included in the financial outlook for 2025 but are conditional on the validation to ensure disciplined growth.

    Best regards

    Per Tejs Knudsen, CEO

    Inquiries regarding this Company Announcement may be directed to

    Ejvind Jørgensen, CFO & Head of Investor Relations, cBrain A/S, ir@cbrain.com, +45 2594 4973

    Attachment

    The MIL Network

  • MIL-OSI Russia: The Academic Council discussed youth policy issues

    Translation. Region: Russian Federal

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

    The meeting of the Academic Council began, as per tradition, with a pleasant ceremony of honoring the Polytechnicians and the university’s partners.

    For her significant contribution to the development of the university, the rector of SPbPU Andrey Rudskoy awarded the commemorative badge “For Merit” to the federal inspector for St. Petersburg of the Office of the Plenipotentiary Representative of the President of the Russian Federation in the Northwestern Federal District Tatyana Kubrakova.

    Then Andrey Ivanovich congratulated the graduate and postgraduate student of the Polytechnic University, assistant of the Higher School of Sports Pedagogy of the Institute of Physical Culture, Sports and Tourism, Honored Master of Sports of the Russian Federation, World and European Champion in short water Kirill Prigoda with a recent victory at the Russian Swimming Championship. The Polytechnician was the best in five distances: 50, 100, 200 meters breaststroke, in the 4×100 relay medley swimming and broke the Russian record. Kirill is the pride of the Polytechnic University, and given his great contribution to strengthening the positive image of the university, the Rector of SPbPU presented him with the main award of the university – the “For Merit” badge with special feeling.

    Candidate of Pedagogical Sciences diplomas were awarded to Igor Rovnin, a graduate of the Institute of Physical Culture, Sports and Tourism, deputy director of the private general education institution Gazprom School Saint Petersburg (academic supervisor – professor of the Higher School of Sports Pedagogy of SPbPU Alexander Bolotin) and senior lecturer of the Department of Foreign Languages Galina Borshchenko (academic supervisor – doctor of pedagogical sciences, professor Anna Rubtsova).

    Milana Zhavner received an associate professor’s certificate in the scientific specialty “Mechanical Science”.

    It’s time to honor the winners and prize winners of various competitions and contests. Winner of the Gazprom Neft League of Universities Award The SPbPU team won in the “Big Prospects” nomination, presenting an additional professional development program “Reverse Engineering of Oil Industry Enterprises”: Vice-Rector for Continuing and Pre-University Education Dmitry Tikhonov, Director of the Information Technology and Business Analysis Research Center “Gazprom Neft” Irina Rudskaya, Head of the Directorate of Continuing Education and Industry Partnership, Head of the Program Ivan Kurta, and Leading Analyst of the Directorate of Continuing Education and Industry Partnership Natalia Ivanova.

    The team of the Higher School of Media Communications and Public Relations of the Humanitarian Institute, consisting of Adelina Borodina, Aya Klimacheva, Vladislava Smelova, and Taisiya Temirova (project mentor – Director of the Higher School of Media Communications and Public Relations Marina Arkannikova), won in two nominations of the All-Russian competition of student works “Archer of the Future”.

    And the volunteer project “Polytech Gives Good” by students of the Higher School of Microbiology and Social Sciences Sofia Ryabinina and Elina Avakova took 1st place in the All-Russian competition “School of Volunteers”.

    L. N. Gumilyov Eurasian National University (Kazakhstan) sent letters of gratitude to Polytechnic University teachers Natalia Chicherina, Maya Bernavskaya, Evgenia Tuchkevich and Evgenia Vorontsova for promoting fruitful educational and scientific cooperation, supporting scientific events and active participation in the international seminar “New paradigms of scientific research in the era of AI: opportunities and transformation of research practices”.

    The SPbPU Certificate of Honor for many years of conscientious work and high professionalism was awarded to the Head of the Quality Control Department, Maxim Dyuldin.

    For the first time in the history of the Polytechnic Military Training Center, for excellent academic performance, active civic position, initiative and diligence demonstrated in volunteer work and assistance to participants of the SVO, students of the communications department Grigory Aleksandrov (IMMiT) and Artem Tikhonravov (IEIT) received departmental awards of the Ministry of Defense of the Russian Federation – the medal “Marshal of the Signal Troops Peresypkin”.

    Lecturer at the Institute of Secondary Vocational Education Tatiana Tsvetkova received two awards – gratitude from the Committee on Science and Higher Education “For conscientious work, great personal contribution to the development of the professional education system of St. Petersburg” and gratitude from the rector of SPbPU A. I. Rudskoy “For the successful organization and holding of the opening Museum of the History of the Development of Public Catering in St. Petersburg as part of the St. Petersburg government project “St. Petersburg cuisine”.

    At the international robot fighting championship RoboWars, which took place in the Indian city of Surat during the largest technology festival Mindbend and brought together more than 80 teams from different countries, the CML-team of the Student Design Bureau of the Advanced Engineering School “Digital Engineering” won – engineer of the Experimental Design Bureau of the SPbPU PISh Vsevolod Bolshakov and laboratory assistant of the Experimental Design Bureau of the SPbPU PISh Daria Kuatkhina. The guys also became winners in the individual competition “Battle of Robots – KRASHILOVO”, in which more than 40 teams from different regions of Russia participated.

    As always, the athletes pleased us with their success. The Polytechnicians became the first in the St. Petersburg student cheerleading competitions (thanks to students Marat Gainutdinov, Victoria Nechaeva, Arina Rakhmatulina and Margarita Senina)

    According to the results of the student karate competitions (VKF) within the framework of the St. Petersburg Student Sports Games 2025, Polytech won 1st place in the overall team standings. This is the merit of the coach of the Student Sports Club “Black Bears-Polytech” Elizaveta Orlova, as well as students Anastasia Vasilenko, Maria Luganskaya and Valery Kazantsev.

    The SPbPU hockey team also won the All-Russian final of the Student Hockey League championship and earned special congratulations from the SPbPU Academic Council.

    After the official ceremony, the Academic Council moved on to the agenda. Vice-Rector for Youth Policy and Communication Technologies Maxim Pasholikov spoke about the implementation of youth policy at the university.

    “It is important that students from their first year begin to understand the values our university lives by, accept these values and leave the Polytechnic as spiritually mature people with the right life guidelines,” emphasized Maxim Pasholikov. “Our communities have always been the main actor in our youth policy. It is impossible to reach all 30 thousand students given the limited resources. That is why trade union organizations, the headquarters of student teams, the adapter movement, patriotic and sports clubs, creative associations that attract a large number of young people are important to us, and, accordingly, through them, through their leaders, we work with young people.”

    Maxim Aleksandrovich noted that the leaders of student associations in many cases become mentors for their younger comrades, and even after graduating from university, they return here as members of the alumni association and ambassadors of the Polytechnic University.

    The Vice-Rector noted that the SPbPU History Museum, creative semesters and last year’s innovation – musical changes on the White Staircase of the Main Academic Building – play an important role in the education and formation of students’ personalities.

    The number of visitors, projects and grants is also growing in the Polytechnic Tower. Work continues within the framework of the “We are together” campaign – for this the vice-rector separately thanked the Humanitarian Institute and the “Harmony” Center.

    Maxim Aleksandrovich drew the attention of the institute directors to the fact that the relevance of social and psychological assistance at the university has grown significantly.

    This year we managed to expand the staff of the Psychological Support Center; people are asking for help, and these are not just people who want to talk, but those who are really experiencing difficulties and problems, emphasized Maxim Pasholikov.

    Maxim Aleksandrovich spoke in detail about the events dedicated to the 80th anniversary of the Victory in the Great Patriotic War, talking about the festive decoration of the campus, exhibitions, the ongoing project “Scientific Regiment” and the new video project “Memory of Glory Lives”, the play “Engineers of Victory” and the upcoming press conference at TASS about the new book “Polytech. Fortitude. 1941-1945”. As always, the inter-university military-patriotic rally “Syandeba” and “Family Victory Day” will be held in the Polytech Park on May 17, including the traditional run named after Hero of the Soviet Union Viktor Lyagin.

    The second issue on the agenda was the presentation of academic titles. By a majority of votes, the members of the SC voted to award the academic title of “professor” to Vladimir Sergeev (PhysMekh) and Alexey Flimonov (IEIT); the title of “associate professor” to Alexey Lukin (PhysMekh), Roman Burkovsky (IEIT), Alexey Grachev and Dmitry Masailo from IMMIT, Alexander Moskvichev (IBSS) and Elena Ladik (ISI).

    On the third issue, “On monitoring the implementation of decisions of the Academic Council,” the scientific secretary of SPbPU, Dmitry Karpov, made a report.

    Also, the members of the Academic Council unanimously supported the nomination of the assistant of the Rais of the Republic of Tatarstan Albert Gilmutdinov for the award of the title of “Honorary Professor of SPbPU”.

    Photo archive

    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 USA: House Passes Latta’s ROUTERS Act and NTIA Reauthorization Act

    Source: United States House of Representatives – Congressman Bob Latta (R-Bowling Green Ohio)

    House Passes Latta’s ROUTERS Act and NTIA Reauthorization Act

    Washington, April 28, 2026 | Ashley Juhn (202-225-6405)

    Today, the House of Representatives passed Congressman Bob Latta’s (R-OH5) ROUTERS Act and the National Telecommunications Information Administration (NTIA) Reauthorization Act, two bipartisan pieces of legislation that will safeguard and increase American taxpayer access to connectivity.

    The ROUTERS ACT will safeguard Americans’ communications networks from foreign-adversary controlled technology, including routers, modems, or devices that combine both. This legislation was previously passed by the House of Representatives in the last Congress.

    TheNTIA Reauthorization Act will reauthorize the NTIA for the first time in 30 years and improve the management of spectrum as well as update the mission and functions of the agency. Similar legislation was previously passed by the House of Representatives in the last Congress.

    “Routers and modems are critical components of our communications network—they serve as the gateway through which the public accesses the Internet. Today’s House passage of my bill, the ROUTERS Act, brings us one step closer to protecting American privacy by ensuring that bad actors cannot exploit vulnerabilities in routers to infect users’ computers, steal their information, or disrupt their networks,” Latta said. “The National Telecommunications and Information Administration plays a vital role in safeguarding and advancing our nation’s telecommunications infrastructure, and my resolution will reauthorize the NTIA for the first time in 30 years. I applaud my House colleagues for supporting this important resolution.”

    “The NTIA Reauthorization Act and the ROUTERS Act are critical pieces of legislation for securing our communications infrastructure and improving America’s economic competitiveness. I thank Rep. Latta for his work pushing these bills across the finish line, as they will set our country up for continued success in the digital age,” said Congressman Brett Guthrie (KY-02), Chairman of the Committee on Energy and Commerce.

    To read the bill text of the ROUTERS Act, click HERE.

    To read the bill text of the NTIA Resolution, click HERE.

    MIL OSI USA News

  • MIL-OSI: Vitus Marine, Greatland Fuel Sales, and Vitus Terminals Secure Combined $37M in USDA Funding to Expand Fuel Infrastructure and Strengthen Rural Alaskan Communities

    Source: GlobeNewswire (MIL-OSI)

    LAGRANGE, Ga., April 29, 2025 (GLOBE NEWSWIRE) — Vitus Marine LLC, Greatland Fuel Sales LLC (GFS), and Vitus Terminals LLC (VT), collectively (Vitus), announced today the group secured $37M in USDA Business & Industry (B&I) Loan Program funding to enhance fuel infrastructure and drive economic growth in rural Alaska. Phoenix Lender Services (Phoenix) facilitated the loan fundings with Community Bank & Trust. Phoenix is a subsidiary of Community Bankshares Inc., which originated, underwrote, and closed the loans, while Community Bank & Trust funded the loans. This second series of loans follows a total of $25M in three B&I loans funded in June of 2024 for Vitus.

    These strategic investments support existing jobs, improve access to essential energy resources and bolster local economies in some of Alaska’s most remote regions.

    On a combined basis for the three companies, these two loan tranches secured over $62 million in total funding and made a significant positive impact to strengthen vital energy infrastructure in Alaska. The Vitus family of companies runs bulk fuel, freight lighterage and energy products to consumers in remote Alaskan communities and provides vital heat, electricity and logistics support to its customers.

    “These partnerships represent the impact we strive to achieve—empowering rural businesses to grow and continuing to serve communities with critical services,” said Chris Hurn, President/CEO of Phoenix Lender Services. “Vitus Marine, Greatland Fuel Sales, and Vitus Terminals are vital to Alaska’s energy infrastructure, and we’re proud to support them through the USDA B&I Program.”

    These loans offer favorable terms with lower interest rates and longer repayment terms, reducing financial burdens and demonstrating a commitment to the sustainability and growth of rural businesses. These investments highlight a powerful public-private partnership focused on preserving access, affordability, and economic opportunity for some of America’s most underserved regions.

    “Fuel and energy access is an essential service for all people. Energy access is not a luxury for the people we serve,” said Justin Charon, Owner and CEO of Vitus. “This collaboration ensures that our customers can continue to depend on us, no matter how remote their community or harsh the delivery season.”

    For more information on Phoenix and its lending solutions, visit https://phoenixlenderservices.com.

    About Phoenix Lender Services
    Based in Georgia and serving clients nationwide, Phoenix Lender Services offers a comprehensive suite of commercial lending solutions, including loan underwriting, closing, and servicing; participant lender matching; secondary market sales; portfolio management; risk analysis; and compliance reviews and regulatory support. Seasoned professionals at Phoenix combine extensive industry expertise in SBA, USDA, and commercial government-guaranteed lending with industry-leading technologies to deliver tailored solutions that align with each client’s unique strategic goals. Phoenix Lender Services is leading the way in SBA, USDA, and commercial lending.

    About Vitus Marine LLC [1]
    Vitus Marine LLC (VM) is one of two major fuel importers and distributors in Western Alaska with the ability to craft custom import solutions, offer hedging ideas and card-lock alternatives for its commercial and industrial buyers. Its customers have learned to depend on the team at Vitus Marine for creative approaches to solve the problems they face in the remote Arctic region the team serves.

    About Vitus Terminals LLC
    Vitus Terminals LLC (VT) is one of a few major fuel importers and distributors into the roadless regions in Western Alaska. They provide heating fuel deliveries to homes and businesses with convenience store access in Bethel and Dillingham, Alaska. All locations offer 24-hour card-lock access. They specialize in the storage, sale, hedging and distribution of fuel through their service hubs in Bethel, Kotzebue, Dillingham, St. Michael, Alaska.

    About Greatland Fuel Sales LLC
    Greatland Fuel Sales LLC continues Vitus Energy’s 15-year history of providing energy to Alaska with unique and timely solutions to create value for its customers through its growing energy supply network and clean convenience stores. Their mission is to deliver competitive energy alternatives for local road warriors and visitors to Alaska.

    About Community Bank & Trust
    Community Bank & Trust (CB&T), a subsidiary of Community Bankshares Inc., is a trusted financial institution dedicated to serving individuals, families, and businesses across its service area and nationwide. Headquartered in LaGrange, GA, CB&T is committed to leveraging its rural roots to empower both local consumers and commercial entities, as well as underserved groups and communities with a broad slate of accessible, personalized banking solutions, while also reaching a diverse and growing nationwide audience.

    MEDIA CONTACT
    Hannah Conley
    Uproar by Moburst for Community Bankshares, Inc.
    hannah.conley@moburst.com

    The MIL Network

  • MIL-OSI: SUNation Energy Announces $1.0 Million Line of Credit

    Source: GlobeNewswire (MIL-OSI)

    RONKONKOMA, N.Y., April 29, 2025 (GLOBE NEWSWIRE) — SUNation Energy, Inc. (Nasdaq: SUNE) (“SUNation” or “the Company”), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, announced that it has entered into a new $1.0 million line of credit agreement with MBB Energy, LLC (“MBB”). As previously disclosed in our SEC filings, MBB Energy, LLC is an affiliate and related party of the Company by virtue of MBB being an entity controlled by Scott Maskin. The revolving line of credit agreement is annexed as an exhibit to our current report on Form 8-K, filed with the SEC on April 17, 2025.

    The line of credit, if utilized, will be used primarily for working capital and corporate purposes. The Company may request one or more loans of up to an aggregate principle amount $1.0 million under this line of credit for a period of one year from the date or entry. Any loans drawn by the Company under this line of credit facility will carry interest on an annualized basis of 8%.

    “We have made significant progress in strengthening our financial profile, with a primary focus on strengthening our balance sheet and enhancing future cash flows, while meeting our financial obligations on a timely basis,” said Jim Brennan, Chief Financial Officer. “Our ability to access this fresh capital on favorable terms provides us with greater financial flexibility to invest in areas that support our long-term growth initiatives. We appreciate the continuing support of MBB.”

    With this line of credit established, the Company intends to seek a new commercial banking relationship that will include a larger commercial line of credit facility.

    About SUNation Energy, Inc.

    SUNation Energy, Inc. is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services. SUNation Energy, Inc.’s largest markets include New York, Florida, and Hawaii, and the company operates in three (3) states.

    Forward Looking Statements

    Our prospects here at SUNation Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company’s filings with the SEC which can be found on the SEC’s website at www.sec.gov.

    Contacts:
    Scott Maskin
    Chief Executive Officer
    smaskin@sunation.com

    SUNation Energy Investor Relations
    IR@sunation.com
    (631) 350-9340

    The MIL Network

  • MIL-OSI United Kingdom: Grangemouth closure is devastating loss for workers and community

    Source: Scottish Greens

    The workers and community of Grangemouth deserve better.

    The news of Grangemouth refinery coming to an end is devastating for workers and the community, says Scottish Green MSP Gillian Mackay. 

    Ms Mackay grew up 200 yards from the refinery and represents Grangemouth, was responding to the news that Petroineos has ceased oil refining in Scotland.

    Ms Mackay said:

    “This is devastating for the workers and community of Grangemouth. We should have seen our Governments doing more to protect jobs and modernise the refinery into a space that would help our transition to a greener future. 

    “It is a further blow to the community. It is deeply disappointing that Labour have not stepped in to protect workers or to future proof jobs in the same way that they have with steelworks down south. 

    “Grangemouth is my home, and it has been frustrating to see promises being made and dropped as easily as Petroineos’ detached billionaire has now dropped the workforce. 

    “I am concerned about what this will look like in the short term for the town. Warm words will not pay the bills. Grangemouth holds a lot of potential, as do the workers who offer the skills we need for transitioning away from fossil fuels. 

    “Governments have not done enough to protect the workers, and my fear is that Grangemouth will now go the same way as so many other communities and towns, where big businesses have cut their losses and left at the expense of the communities and livelihoods.”

    MIL OSI United Kingdom

  • MIL-OSI Security: UN Security Council Media Stakeout on Non-proliferation

    Source: International Atomic Energy Agency – IAEA

    Jean-Noël Barrot, Minister for Europe and Foreign Affairs of France and Rafael Mariano Grossi, Director General of the IAEA speak to the media on non-proliferation and nuclear weapons at a stakeout after a private meeting of the UN Security Council on 28 April 2025 in New York.

    MIL Security OSI

  • MIL-OSI USA News: MEMO: First 100 Days Economy

    Source: The White House

    TO: White House Communications Staff
    FROM: Council of Economic Advisers Staff
    SUBJECT: First 100 Days Economy Memo

    Jobs Statistics:

    • President Trump has created 345,000 jobs since taking office in January.
      • 188,000 (54%) of these were in non-government and government-adjacent sectors. This is a dramatic improvement from the last two years of the Biden Administration, when three-fourths of all new jobs were in government or government-adjacent sectors.
        • 2,000 of which were mining and logging jobs.
        • 27,000 of which were construction jobs.
        • 9,000 manufacturing jobs were created (compared to the 6,000 manufacturing jobs lost per month from Jan 2023 to Dec 2024).
      • At the same time that there were large private sector job gains, 15,000 federal government jobs were cut.
    • The labor force participation rate for those without a high school diploma is up by 0.7% since President Trump took office.
    • The veteran unemployment rate is down from 4.2% in January to 3.8% in March.
    • 228,000 jobs were created in March alone, well above expectations.
      • This was the fourth best month in the last two years for private payroll growth.
    • Remote work among federal employees has fallen over 16 percentage points from March last year to March this year, showcasing the success of President Trump’s initiative to bring federal workers back to the office.
      • Federal telework numbers are now in-line with the private sector.

    Inflation Statistics:

    • Prescription drug prices are down over 2% since President Trump took office. 
    • Last month’s drop in the price of prescription drugs was the largest ever recorded.
    • Gasoline prices, as measured by the Consumer Price Index (CPI), are down 7% since President Trump took office.
    • Energy prices are down 2% since President Trump took office.
    • Wholesale egg prices down are about 50% since President Trump took office. Most consumers have seen relief in prices on the shelf, but all consumers should see it within the next month or two.
    • February inflation (the month prior to the most recent data) showed the smallest annual increase in core inflation in over four years (since March 2021).
    • Both of the last two CPI inflation prints came in below expectations.
    • Last month’s (March) decline was only the second monthly decline in inflation (CPI) in the last two-and-a-half years.
    • These price declines are in contrast to the persistently high inflation under President Biden, which reached the highest annual rate in the past 40 years. After suffering for years under Biden Administration inflation, consumers are now getting welcome relief. On Biden’s watch, grocery prices rose 23%, and energy prices rose 34%.
    • As a result of biting inflation, real wages in President Biden’s term were down about 2.4%.
    • Moreover, in the most recent inflation print from March, airfare, used motor vehicles, and motor insurance all saw price decreases.
    • Prices for wholesale goods fell nearly 1% last month and prices for wholesale services fell 0.2% last month, which will eventually lead to lower consumer prices.
    • Last month, retail egg price inflation continued to slow.

    Misc. Economic Statistics:

    • Real average hourly earnings for middle- and low-income workers are up 0.4% and up 1% for workers in the manufacturing sector since President Trump took office.
    • The automotive sector is growing: under President Trump, we already had the biggest one-month increase in auto sales in March in more than a year.
    • Mortgage rates have declined roughly four-tenths of a percentage point since President Trump took office.
      • Assuming the most recent median home price in the U.S., a new homebuyer making a 20% down payment on a 30-year mortgage would save roughly $32,400 over the course of the loan, or about $1,080 per year.
    • Industrial production was at the seventh-highest monthly level ever recorded in March. The only higher monthly levels occurred during the first Trump Administration in 2018 and in February of this year.
    • Since the beginning of the Trump Administration, at least $5 trillion in new investment in the U.S. has been pledged from both foreign governments and private companies.

    Economic Policy Wins:

    • Upon taking office, President Trump immediately blocked all unfinalized Biden-era rules, saving Americans over $180 billion — $2,100 per family of four over the next decade — and launched a bold, multi-agency effort to roll back existing federal regulations that drive up the cost of living. This effort is projected to yield significant cost savings in the coming months, including the EPA’s rollback of tailpipe emission rules for light-duty and medium-duty vehicles ($667 billion in total savings) and the Department of Transportation’s latest Corporate Average Fuel Economy (CAFE) standards ($88 billion in savings). These two efforts alone yield $755 billion in total savings or over $8,800 per family of four over the next decade. The combined savings from all of these actions equal just over $935 billion or nearly $11,000 per family of four over the coming decade.
    • The Trump Administration has implemented an aggressive 10-to-1 deregulatory initiative, which requires that whenever an agency proposes a new rule or guidance document, it must eliminate 10 existing rules or guidance documents. This effort builds on the successful deregulatory initiative introduced in President Trump’s first term, which required the repeal of at least two existing regulations for each new rule, and in practice eliminated 5.5 rules for each new significant rule.
    • To date, President Trump has issued over 20 significant deregulatory presidential actions (i.e., executive orders, presidential memoranda, and presidential proclamations).

    Charts:

    MIL OSI USA News

  • MIL-OSI: APR Energy Delivers 150MW Fast Power to Support Mexico’s Grid

    Source: GlobeNewswire (MIL-OSI)

    JACKSONVILLE, Fla., April 29, 2025 (GLOBE NEWSWIRE) — New APR Energy LLC (“APR Energy”), a global leader in fast-track power generation, has secured a contract to deliver 150 megawatts (MW) of power generation to support Mexico’s national utility ahead of the summer peak in Baja California. The project will mobilize six high-output mobile gas turbines, with full operational readiness targeted within 90 days—demonstrating APR Energy’s continued ability to deploy flexible, utility-scale solutions under accelerated timelines.

    This project highlights the strength of APR Energy’s seasoned leadership team, which has successfully delivered mobile power generation in over 35 countries—often in mission-critical environments requiring speed, reliability, and precision. Their operational expertise ensures disciplined execution at every stage, from mobilization to grid integration.

    Aligned with APR Energy’s broader strategy, the initiative reflects the company’s focus on meeting both immediate grid challenges and long-term power needs through flexible, scalable generation solutions. With a versatile fleet and a proven execution model, APR is positioned to meet rising demand across a wide range of industries and operational requirements.

    “This deployment reflects the unprecedented demand for reliable power across multiple sectors,” said Chuck Ferry, Chairman and CEO of APR Energy. “We see continued opportunities to deploy additional capacity from APR’s fleet in the near term. With world-class power assets and an experienced, high-performing team, APR is once again delivering fast, dependable power where it’s needed most.”

    APR Energy continues to leverage its asset management agreement with Duos Technologies Group, Inc., which provides value-added services that support the company’s operations.

    To learn more about APR Energy, please visit www.aprenergy.com.
    To learn more about Duos Technologies Group (Nasdaq: DUOT), please visit www.duostech.com

    About APR Energy
    APR Energy, based in Jacksonville, Florida, provides rapidly deployable mobile power solutions to utility and data center operators, offering emergency, temporary, bridging, and permanent energy options. For more than 20 years, APR Energy has partnered with customers around the world to deliver fast, reliable power using mobile gas turbines. The company creates unique value by executing large-scale projects in weeks or months—far faster than the 2–5 years typically required to construct permanent infrastructure. For more information, please visit www.aprenergy.com.

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

    The MIL Network

  • MIL-OSI: Franklin Electric Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    First Quarter 2025 Highlights

    • Consolidated net sales of $455.2 million, a decrease of 1% to the prior year
    • Energy Systems net sales increased 8% while Water Systems net sales were up less than 1% and Distribution net sales declined 3%
    • Operating income was $44.1 million with operating margin of 9.7%
    • GAAP fully diluted earnings per share (EPS) was $0.67

    FORT WAYNE, Ind., April 29, 2025 (GLOBE NEWSWIRE) — Franklin Electric Co., Inc. today announced its first quarter financial results for fiscal year 2025.

    First quarter 2025 net sales were $455.2 million, compared to first quarter 2024 net sales of $460.9 million. First quarter 2025 operating income was $44.1 million, compared to first quarter 2024 operating income of $47.9 million. First quarter 2025 EPS was $0.67, versus EPS in the first quarter 2024 of $0.70.

    “Our underlying businesses performed largely as expected in the first quarter.   Order trends remain positive, supporting a robust backlog as we enter the second quarter. Furthermore, strong performance in our Energy Systems segment helped offset unfavorable weather impacting our Distribution business, underscoring the value of our diversified global portfolio. One-time expenses associated with our executive transition and recent acquisitions presented earnings headwinds during the quarter, but our operating strength was clear,” commented Joe Ruzynski, Franklin Electric’s CEO.

    “During the quarter, we continued to invest in growth by completing two acquisitions, in line with our value creation framework. We look forward to deploying our integration playbook and enhancing the margin profiles of these great businesses. Despite uncertainty in the macroeconomic environment and potential tariffs, we are confident in Franklin Electric’s competitive position with strong brands, leading service, and a healthy operating footprint as we continue to execute our strategic priorities,” concluded Mr. Ruzynski.

    Segment Summaries

    Water Systems net sales were $287.3 million in the first quarter, an increase of $0.7 million or less than 1 percent compared to the first quarter of 2024. Results were driven by the incremental sales impact of recent acquisitions and higher sales of groundwater products, water treatment products and large dewatering pumps. These sales increases were partially offset by the negative impact of foreign currency translation and lower sales of all other surface products. Water Systems operating income in the first quarter of 2025 was $43.4 million. First quarter 2024 Water Systems operating income was $47.1 million.

    Distribution net sales were $141.9 million, a decrease of $5.1 million or 3 percent compared to the first quarter 2024. Sales decreases were driven by lower volumes and continued negative pricing. The Distribution segment operating income in the first quarter 2025 was $2.1 million. First quarter 2024 Distribution operating income was $1.8 million.

    Energy Systems net sales were $66.8 million in the first quarter 2025, an increase of $4.7 million or 8 percent compared to the first quarter 2024. Sales increases were driven by higher volumes and price realization. Energy Systems operating income in the first quarter of 2025 was $21.9 million. First quarter 2024 Energy Systems operating income was $18.8 million.

    Cash Flow

    Net cash flows used in operating activities for the first quarter of 2025 were $19.5 million versus $1.4 million in the same period in 2024.

    2025 Guidance

    The Company is maintaining its guidance for full year 2025 sales to be in the range of $2.09 billion to $2.15 billion and reducing the low end of its earnings guidance and now expects full year 2025 EPS to be in the range of $3.95 to $4.25.

    Earnings Conference Call

    A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The first quarter 2025 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to:

    https://edge.media-server.com/mmc/p/yzximy3p

    For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below.

    https://register-conf.media-server.com/register/BI5cb1cdcef9da4de38184396c5211b443

    All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

    A replay of the conference call will be available from Tuesday, April 29, 2025, through 9:00 am ET on Tuesday, May 6, 2025, by visiting the listen-only webcast link above.

    Forward Looking Statements

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases,  raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, changes in tariffs or the impact of any such changes on the Company’s financial results, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

    About Franklin Electric

    Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be named in Newsweek’s lists of America’s Most Responsible Companies and Most Trustworthy Companies for 2024 and America’s Climate Leaders 2024 by USA Today.

    Franklin Electric Contact:

    Russ Fleeger
    Franklin Electric Co., Inc.
    InvestorRelations@fele.com

     
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
           
    (In thousands, except per share amounts)      
           
      First Quarter Ended
      March 31, 2025   March 31, 2024
           
    Net sales $ 455,247     $ 460,900  
           
    Cost of sales   291,344       297,320  
           
    Gross profit   163,903       163,580  
           
    Selling, general, and administrative expenses   119,643       115,644  
           
    Restructuring expense   159        
           
    Operating income   44,101       47,936  
           
    Interest expense   (1,799 )     (1,448 )
    Other income, net   843       706  
    Foreign exchange expense, net   (1,293 )     (4,880 )
           
    Income before income taxes   41,852       42,314  
           
    Income tax expense   10,478       9,222  
           
    Net income $ 31,374     $ 33,092  
           
    Less: Net income attributable to noncontrolling interests   (412 )     (133 )
           
    Net income attributable to Franklin Electric Co., Inc. $ 30,962     $ 32,959  
           
    Earnings per share:      
    Basic $ 0.67     $ 0.71  
    Diluted $ 0.67     $ 0.70  
           
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
           
    (In thousands)      
           
      March 31, 2025   December 31, 2024
    ASSETS      
           
    Cash and cash equivalents $ 83,994     $ 220,540  
    Receivables (net)   271,688       226,826  
    Inventories   560,338       483,875  
    Other current assets   40,627       32,950  
    Total current assets   956,647       964,191  
           
    Property, plant, and equipment, net   236,732       223,566  
    Lease right-of-use assets, net   60,294       62,637  
    Goodwill and other assets   675,199       570,212  
    Total assets $ 1,928,872     $ 1,820,606  
           
           
    LIABILITIES AND EQUITY      
           
    Accounts payable $ 190,295     $ 157,046  
    Accrued expenses and other current liabilities   125,316       139,989  
    Current lease liability   18,688       18,878  
    Current maturities of long-term debt and short-term borrowings   149,730       117,814  
    Total current liabilities   484,029       433,727  
           
    Long-term debt   14,858       11,622  
    Long-term lease liability   41,382       43,304  
    Deferred income taxes   32,718       10,193  
    Employee benefit plans   30,046       29,808  
    Other long-term liabilities   24,544       22,118  
     
    Redeemable noncontrolling interest   1,373       1,224  
           
    Total equity   1,299,922       1,268,610  
    Total liabilities and equity $ 1,928,872     $ 1,820,606  
           
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
      Three Months Ended
    (In thousands)      
      March 31, 2025   March 31, 2024
    Cash flows from operating activities:      
    Net income $ 31,374     $ 33,092  
    Adjustments to reconcile net income to net cash flows from operating activities:      
    Depreciation and amortization   14,433       13,792  
    Non-cash lease expense   5,241       5,194  
    Share-based compensation   4,962       4,042  
    Other   1,080       4,036  
    Changes in assets and liabilities:      
    Receivables   (29,376 )     (43,365 )
    Inventory   (43,669 )     (28,105 )
    Accounts payable and accrued expenses   (3,744 )     8,576  
    Operating leases   (5,091 )     (5,305 )
    Other   5,322       6,681  
           
    Net cash flows from operating activities   (19,468 )     (1,362 )
           
    Cash flows from investing activities:      
    Additions to property, plant, and equipment   (6,836 )     (9,184 )
    Proceeds from sale of property, plant, and equipment   397       102  
    Acquisitions and investments   (109,687 )     (1,151 )
    Other investing activities   9       17  
           
    Net cash flows from investing activities   (116,117 )     (10,216 )
           
    Cash flows from financing activities:      
    Net change in debt   20,366       11,397  
    Proceeds from issuance of common stock   1,438       4,050  
    Purchases of common stock   (6,902 )     (9,047 )
    Dividends paid   (13,160 )     (12,395 )
    Deferred payments for acquisitions   (4,300 )     (348 )
           
    Net cash flows from financing activities   (2,558 )     (6,343 )
           
    Effect of exchange rate changes on cash and cash equivalents   1,597       (1,728 )
    Net change in cash and cash equivalents   (136,546 )     (19,649 )
    Cash and cash equivalents at beginning of period   220,540       84,963  
    Cash and cash equivalents at end of period $ 83,994     $ 65,314  
           

    Key Performance Indicators: Net Sales Summary

      Net Sales
      United States Latin Europe, Middle Asia Total        
    (in millions) & Canada America East & Africa Pacific Water Energy Distribution Other/Elims Consolidated
                       
    Q1 2024 $172.7   $41.3   $52.3   $20.3   $286.6   $62.1   $147.0   ($34.8 ) $460.9  
    Q1 2025 $175.7   $39.5   $51.5   $20.6   $287.3   $66.8   $141.9   ($40.8 ) $455.2  
    Change $3.0   ($1.8 ) ($0.8 ) $0.3   $0.7   $4.7   ($5.1 ) ($6.0 ) ($5.7 )
    % Change   2 %   -4 %   -2 %   1 %   0 %   8 %   -3 %     -1 %
                       
    Foreign currency translation, net * ($1.3 ) ($3.6 ) ($1.2 ) ($1.0 ) ($7.1 ) ($0.2 ) $0.0     ($7.3 )
    % Change   -1 %   -9 %   -2 %   -5 %   -2 %   0 %   0 %     -2 %
                       
    Acquisitions $1.2   $3.1   $0.0   $1.4   $5.7   $0.0   $0.0     $5.7  
    % Change   1 %   8 %   0 %   7 %   2 %   0 %   0 %     1 %
                       
    Volume/Price $3.1   ($1.3 ) $0.4   ($0.1 ) $2.1   $4.9   ($5.1 ) ($6.0 ) ($4.1 )
    % Change   2 %   -3 %   1 %   0 %   1 %   8 %   -3 %   -17 %   -1 %
                       

    *The Company has presented local currency price increases used to offset currency devaluation in the Argentina and Turkey highly inflationary economies within the foreign currency translation, net row above.

    Key Performance Indicators: Operating Income and Margin Summary

    Operating Income and Margins          
    (in millions) For the First Quarter 2025
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 43.4   $ 21.9   $ 2.1   $ (23.3 ) $ 44.1  
    % Operating Income To Net Sales   15.1 %   32.8 %   1.5 %     9.7 %
               
    Operating Income and Margins          
    (in millions) For the First Quarter 2024
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 47.1   $ 18.8   $ 1.8   $ (19.8 ) $ 47.9  
    % Operating Income To Net Sales   16.4 %   30.3 %   1.2 %     10.4 %
               

    The MIL Network

  • MIL-OSI USA: 2025 Commencement Speakers and Honorary Degree Recipients

    Source: US State of Connecticut

    From business success to the National Science Foundation, from policymaking in Hartford to the world’s most popular YouTube sneaker channel, from the Chairman of the Mashantucket Pequot Tribal Nation to the President of the Rwanda Academy of Sciences, the honored guests of UConn’s commencement ceremonies bring a wealth of experience, insight, and wisdom to share with this year’s graduates. Speakers at the ceremonies, which begin on Saturday, May 10, include:

    College of Engineering (Saturday, May 10, 9 a.m. at Gampel Pavilion): Mark P. Sarkisian ’83

    Mark Sarkisian is a partner in the San Francisco office of Skidmore, Owings & Merrill LLP. He is a licensed professional engineer and structural engineer in 31 states. In 2021, Sarkisian was elected to the National Academy of Engineering, and is a member of the University of Connecticut Academy of Distinguished Engineers. He received his bachelor’s degree in civil engineering from UConn in 1983, and his master’s degree in structural engineering from Lehigh University. Sarkisian’s career focuses on developing innovative structural engineering solutions for over 100 major building projects around the world, including the Jin Mao Tower in China and the Al Hamra Fidrous Tower in Kuwait, both over 1,300 feet[1]tall. Sarkisian holds 10 U.S. patents and five international patents. Sarkisian has authored over 150 technical papers related to the design of building structures, and in 2012 completed his first book, “Designing Tall Buildings – Structure as Architecture.” He teaches integrated studio design courses focused on collaborative design opportunities at the University of California, Berkeley; California College of the Arts; Stanford University; California Polytechnic State University; Northeastern University; North Carolina State University; and the Pratt Institute.

    School of Nursing (Saturday, May 10, 9 a.m. at Jorgensen Center for the Performing Arts): Joan Y. Reede

    Dr. Joan Y. Reede was appointed as Harvard Medical School’s (HMS) first Dean for Diversity and Community Partnership in January of 2002, and has been responsible for the development and management of a comprehensive program that has provided leadership, guidance, and support to promote the increased recruitment, retention, and advancement of diverse faculty, particularly individuals from groups underrepresented in medicine. This charge includes oversight of all diversity activities at HMS as they relate to faculty, trainees, students, and staff. Reede is a graduate of Brown University and Mount Sinai School of Medicine. She completed a pediatric residency at Johns Hopkins Hospital in Baltimore, Maryland, and a fellowship in child psychiatry at Boston Children’s Hospital. She holds an MPH and an MS in Health Policy Management from Harvard T. H. Chan School of Public Health, and an MBA from Boston University. Reede created and developed more than 20 programs at HMS that aim to address pathway and leadership issues for minorities and women who are interested in careers in medicine, academic and scientific research, and the health care professions. At a national level, Reede’s advice and expertise is highly sought after among several committees and councils, such as being appointed to the Health and Human Services Advisory Committee on Minority Health and serving on the Board of Governors for the Warren Grant Magnuson Clinical Center. She also has many affiliations, including the Task Force for the Annual Biomedical Research Conference for Minority Students, CTSA Women in CTR Interest Group of the NIH, and the American Association for the Advancement of Science STEM Education Review Committee.

    School of Business (Saturday, May 10, 1:30 p.m. at Gampel Pavilion): Richard Eldh ‘81

    Rich Eldh was born in the village of Ardsley, New York, and moved homes five times between the ages of 5 and 15. He attended Staples High School in Westport, graduating as a three-sport athlete and an all-state football player. After high school, he enrolled at the University of Connecticut. In what would have been his junior year, 1978–1979, he took a leave of absence to travel abroad, living in Kempten, Germany, in Bavaria. There, he worked at Dixie Union, a manufacturing company, as a computer programmer, where he developed new automation software for the finance department. This experience in Germany highlighted the significant impact computing technology would have on business. Motivated by this realization, he decided to pursue a career in the computer industry. Upon returning to the University of Connecticut for his final two years, he majored in finance at the School of Business and graduated in 1981 with a degree in Finance. He first joined a manufacturing firm implementing automation software, then moved to Four Phase Systems, a Motorola company, selling data entry systems. Later, he joined Hewlett-Packard, specializing in manufacturing systems and automation. It was at HP that he met his wife; they married and started a family. After working for two very large corporations, Rich joined a startup called Gartner Group in Stamford. He was the 100th employee, and in ten years, the company grew from $9 million in revenue to just under $1 billion with 4,500 employees. Today, Gartner boasts a market cap of $38 billion with 21,000 employees. These early career highlights led Rich to co-found Sirius Decisions, which became a leader in high-performance go-to[1]market research and benchmarking. Headquartered in Wilton, Sirius Decisions grew to 400 employees with private equity backing and offices worldwide. The company was eventually monetized for approximately $300 million through a sale to a public company in Boston. Throughout his career, he has had the honor of working with associates and clients across more than 50 countries. Alongside his career, Rich and his wife Joyce raised two daughters and a son. They have each found success in the medical field, the fashion world, and the blockchain and crypto industry, respectively.

    School of Social Work (Saturday, May 10, 1:30 p.m. at Jorgensen Center for the Performing Arts): Maggie Mitchell Salem

    Maggie Mitchell Salem joined IRIS as Executive Director in January 2024. Throughout her nearly 30-year career, Maggie has managed diverse teams focused on civic education, intercultural dialogue, social and political rights, and forced displacement. She arrived in Connecticut following three years leading the National Democratic Institute’s democratic governance program in Tunisia. Given the exponential increase in the number of refugees, humanitarian parolees, and other immigrants that IRIS assists, Maggie has focused on organizational structure, systems, and policies that create a strong foundation for the organization’s continued growth. Her previous experience at Global Refuge (formerly Lutheran Immigration & Refugee Services) and Fugees Academy have underscored the importance of collaborative, communicative leadership and management. For more than a decade, she was the founding executive director of Qatar Foundation International and expanded Arabic language and culture education to public K-12 schools across the U.S., UK, and Germany. As the Regional Director for the Middle East and North Africa at the International Foundation for Electoral Systems (IFES), she expanded or created new programs in Jordan, Iran, and Iraq. Maggie started up and led the Middle East Institute’s Communications Department from 2001-2004. She also served as a U.S. Foreign Service Officer in Mumbai and Tel Aviv, and as staff on the Executive Secretariat of Secretary of State Madeleine Albright. Maggie was a Fulbright Scholar in Syria while studying for her Masters in Contemporary Arab Studies at Georgetown University. She received a bachelor’s degree in political science and psychology from Johns Hopkins University. She has two sons and two daughters. She lives with her six dogs and two cats in East Haddam.

    Bachelor of General Studies (Saturday, May 10, 2 p.m. at Student Union Theater): Daniel Mercier ‘95

    Daniel Mercier graduated from the Bachelor of General Studies program in 1995 with a focus in Visual Communications. After serving as a Graphics Specialist for a few years, Mercier returned to UConn in 1998 as a Media Producer. In 2001, he transitioned to the role of Instructional Developer in the Instructional Design and Development Department. After completing a Master of Arts in Educational Technology in 2003, Mercier became Manager of Instructional Design and Development and ultimately served as Assistant Director and Director of the Institute of Teaching and Learning. In 2015, he took on the role of Director, Instructional Design, in the Center for Pedagogical Innovation at Wesleyan University. In 2017, Mercier returned to UConn as the Director of Academic Affairs at the Avery Point Campus of the University of Connecticut. Throughout his 30-plus-year career, Mercier has demonstrated an unwavering commitment to the development of instructional tools, to help faculty utilize technologies to reach our students. In his work, he has supported faculty, staff and students across the higher education landscape. His commitment to the University of Connecticut spans nearly 25 years. In his current position, he recruits faculty, oversees academic advising and other academic support programs, and develops partnerships between the Avery Point campus and other academic entities within and outside UConn. These partnerships include the support of students in the Bachelor of General Studies Program.

    College of Agriculture, Health and Natural Resources (Saturday, May 10, 6 p.m. at Gampel Pavilion): Rodney Butler ’99 (BUS)

    Rodney A. Butler is the Chairman of the Mashantucket Pequot Tribal Nation (MPTN) since January 2010. Butler’s service on Tribal Council began in 2004, and after one year, he was appointed Tribal Council Treasurer; a position he held through 2009. During his tenure, Butler chaired the Tribe’s Finance, Housing, and Judicial Committees, the MPTN Utility Authority, and served as an Interim CEO for Foxwoods Resort Casino. Butler earned his Bachelor’s Degree in Finance from the University of Connecticut where he played Defensive Back for the UConn Huskies football team. Prior to Tribal Council, Butler worked in the finance department at Foxwoods Resort Casino. He later became Chairman of the Tribal Business Advisory Board; an executive body responsible for overseeing the Tribe’s non-gaming businesses and commercial properties. Butler was actively involved in multiple resort expansions at Foxwoods, as well as community development initiatives on the Reservation, the establishment of the Mashantucket (Western) Pequot Tribe Endowment Trust, and the legalization of Sports Betting and iGaming in the state of Connecticut. He was also a participant in Harvard Business School’s program “Leading People and Investing to Build Sustainable Communities.” He is a regular speaker on national panels related to Native American issues. Butler presently serves on the Board of Directors for Mashantucket Pequot Interactive and is on the board of Foxwoods El San Juan Casino. He also serves as the President of Native American Finance Officers Association (NAFOA), as Alternate Vice President for the National Congress of American Indians, and on the boards for the United South and Eastern Tribes, Indian Gaming Association, American Gaming Association, the Mystic Aquarium, and the United Way of Southeastern Connecticut. He is the 2019 recipient of the Citizen of the Year award from the Eastern Connecticut Chamber of Commerce, and the National Indian Gaming Association’s John Kieffer Sovereignty Award. In 2018, he received the St. Edmund’s Medal of Honor Award from the Enders Island Retreat Center. In 2017, Butler was appointed “Tribal Leader of the Year” by the NAFOA. As Chairman, Butler’s primary focus is to ensure long-term stability for the Tribe’s citizens, government, and business enterprises.

    School of Fine Arts (Saturday, May 10, 6 p.m. at Jorgensen Center for the Performing Arts): Jacob G. Padrón

    Jacob G. Padrón is the Artistic Director of Long Wharf Theatre in New Haven. He is also the Founder and Artistic Director of The Sol Project, a national theater initiative that works in partnership with leading theater companies to amplify the voices of Latino playwrights in New York City and beyond. Padrón has held senior-level artistic positions at theater companies across the country. He was the Senior Line Producer at The Public Theater where he worked on new plays, new musicals, Shakespeare in the Park, and Public Works. He was formerly the Producer at Steppenwolf Theatre Company in Chicago where he supported the artistic programming in the Garage – Steppenwolf’s dedicated space for new work, new artists, and new audiences. From 2008 to 2011, he was an Associate Producer at the Oregon Shakespeare Festival where he was instrumental in producing all shows in the 11-play repertory. Under the guidance of his late mentor Diane Rodriguez, he served as the producer of Suzan-Lori Parks’ “365 Days/365 Plays” for Center Theatre Group, a collaboration that included over 50 theater companies to launch Festival 365 in Los Angeles. He is a co-founder of the Artist Anti-Racism Coalition, a grassroots movement committed to dismantling structural racism within the Off-Broadway community. Jacob is a graduate of Loyola Marymount University (B.A.) and David Geffen School of Drama (M.F.A.). His first artistic home was El Teatro Campesino located in San Juan Bautista, California.

     

    College of Liberal Arts and Sciences, Ceremony I (Sunday, May 11, 9 a.m. at Gampel Pavilion): Maureen Ahern ‘85

    Maureen Ahern is an Executive Leadership Coach on her third career whose journey began in the same classrooms as today’s graduates. A proud Husky who earned both a Bachelors and a Masters, Maureen’s connection to UConn runs deep. For over 10 years, she returned to UConn Stamford each week as an Adjunct Professor, teaching Interpersonal Communications and Public Speaking after her corporate day job in New York, driven by her belief that becoming a great communicator gives you the power and confidence to take meaningful action to shape your future. Maureen started as a Sales Executive at The Associated Press and quickly rose to lead the Satellite Networks division before transitioning to Standard and Poor’s Comstock. At S&P she led many different departments as Director of Operations, VP of US Sales and Managing Director for Asian and South American markets, building successful international relationships while traveling the world. She was part of the management team that sold Comstock to IDC and then pivoted from corporate into the digital world, as Partner and COO of momAgenda, where she helped build a thriving e-commerce company. Drawing on her teaching background, leadership experience and desire to coach and mentor others, Maureen completed her leadership coaching certification at Georgetown University’s Transformational Leadership Institute. Today as Founder of Ahern Leadership Coaching and Consulting, Maureen partners with C-suite executives and emerging leaders across industries, facilitating leadership development through one-on-one coaching, team coaching, and specialized training and leadership development workshops. Her coaching philosophy – described by clients as “tough but loving”-centers on her belief that leaders aren’t born, they are made and that everyone has leadership capacity waiting to be unlocked through awareness, action and courage. Maureen was a mentor with the Freshman Founders Program at the Werth Institute at UConn Stamford, in addition to her volunteer work with CT NEXT and Startup Westport as a business mentor. She is also an angel investor with Tidal River Fund whose goal is to fund underrepresented founders. When not working with her clients whom she loves and adores, Maureen enjoys yoga, beach walks, and time with her three adult children (Patrick, Brendan and Caeleigh). She shares life in Cos Cob with her husband Mike Santini (fellow UConn grad) and their black lab, Nino.

    Neag School of Education (Sunday, May 11, 9 a.m. at Jorgensen Center for the Performing Arts): Suzanne M. Wilson

    Suzanne M. Wilson is the Neag Endowed Professor of Teacher Education at the University of Connecticut’s Neag School of Education, where she also serves as a professor in the Department of Curriculum and Instruction. Her undergraduate degree is in history and American studies from Brown University; she also has an M.S. in statistics and a Ph.D. in psychological studies in education from Stanford University. She was a University Distinguished Professor in the Department of Teacher Education at Michigan State University, where she served on the faculty for 26 years. Wilson also served as the first director of the Teacher Assessment Project, which developed prototype assessments for the National Board for Professional Teaching Standards. Wilson is a committed teacher, having taught undergraduate, master’s, and doctoral classes in educational policy, teacher learning, and research methods. She has directed 36 dissertations and served as a committee member for another 45. Wilson serves on multiple editorial and advisory boards. She was elected to the National Academy of Education in 2013 and to the American Academy of Arts and Sciences in 2022. Wilson has written on teacher knowledge, qualitative methods, curriculum reform, educational policy, and teacher preparation and professional development. She has published in Science, American Educator, American Educational Research Journal, Educational Researcher, Review of Educational Research, Elementary School Journal, Teaching and Teacher Education, Journal of Teacher Education, Phi Delta Kappa, and Teaching Education. She is the author of “California Dreaming: Reforming Mathematics Education” (Yale, 2003) and editor of Lee Shulman’s collection of essays, “Wisdom of Practice: Essays on Teaching, Learning, and Learning to Teach” (Jossey-Bass, 2004). She is currently working on a collection of essays entitled, “Why Teach?”

    College of Liberal Arts and Sciences Ceremony II (Sunday, May 11, 1:30 p.m. at Gampel Pavilion): Joe La Puma ‘05

    Joe La Puma serves as SVP of Content Strategy at Complex NTWRK and hosts Complex’s Sneaker Shopping, the world’s No. 1 sneaker show, which has garnered over 1 billion views on YouTube. He has been at the forefront of sneaker and street culture at Complex for the past 15 years. La Puma started his journalism career writing for The Daily Campus and was voted “Rookie of the Year” by fellow staffers. After graduating from UConn in 2005 with a degree in Journalism, he returned to Bay Shore to manage The Finish Line—where he previously worked in high school—while contributing articles to both local and global publications like Newsday and Hypebeast.com. In 2006, La Puma landed an internship at Complex magazine, a pop culture publication specializing in convergence culture through hip-hop, sneakers, and fashion. La Puma has written more cover stories (21) than any other writer in Complex history, including profiles on Justin Bieber, Katy Perry, and Kid Cudi. La Puma is also a published author of the book “Complex Presents: Sneaker of the Year: The Best Since ’85.” In his current SVP role, La Puma has led Complex to over 200% growth in audience and engagement. In 2014, Complex debuted the YouTube show Sneaker Shopping, a series that La Puma created and hosts to this day. Over the past decade of Sneaker Shopping, La Puma has interviewed icons like Eminem, Whoopi Goldberg, Kevin Hart, Mark Wahlberg, Billie Eilish, Cristiano Ronaldo, David Beckham, and conducted one of the only lifestyle interviews with former Vice President Kamala Harris during the 2020 election cycle. The show has filmed episodes across the U.S., as well as abroad in China, England, Spain, and Japan. With his extensive editorial work on footwear and over 300 episodes of Sneaker Shopping, La Puma is regarded as one of the foremost sneaker experts in the world. La Puma is a three-time Webby Award winner and has been featured on Good Morning America, and The Tonight Show With Jimmy Fallon. In 2024, La Puma was inducted into the Bay Shore High School Hall of Fame, a group that includes only 79 members since the school opened in 1893. La Puma currently lives in Brooklyn, and takes half-days at work when he can during UConn Basketball March Madness runs.

    School of Pharmacy – Doctor of Pharmacy (Sunday, May 11, 1:30 p.m. at Jorgensen Center for the Performing Arts): JoAnn Trejo

    JoAnn Trejo, Ph.D., MBA is professor of pharmacology and senior assistant Vice Chancellor for Health Sciences Faculty Affairs at the University of California (UC) San Diego. She completed her undergraduate degree at UC Davis, earned her Ph.D. and MBA at UC San Diego and completed postdoctoral training at UC San Francisco. Trejo is a basic science researcher with expertise in cell signaling in the context of vascular inflammation and cancer. Her research has been published in more than 100 peer-reviewed articles and she is a recipient of a NIH R35 Maximizing Investigators’ Research Award (MIRA) and the American Heart Association Established Investigator Award. Trejo is an outstanding educator, mentor and a leader actively engaged in initiatives aimed at enhancing excellence in science and pharmacology. She is the director of five NIH-supported training programs including the UC San Diego IRACDA Postdoctoral Scholars Program, FIRST Program and three early career faculty development programs. Trejo served as an elected member of the leadership Council for the ASCB and the American Society for Biochemistry and Molecular Biology and is a current member of the scientific advisory boards for Septerna and Versiti. She has also served on multiple NIH Study Sections, the NCI Board of Scientific Counselors for Basic Sciences, and Blavatnik, HHMI and Chan Zuckerberg foundation review panels. Trejo is a current member of the NIGMS Advisory Council. She is the Associate Editor for Molecular Biology of the Cell and is an editorial board member for Proceedings National Academy of Sciences Nexus, Journal of Biological Chemistry and Molecular Pharmacology. Trejo is an elected member of the National Academy of Medicine, American Society for Cell Biology (ASCB) Fellow and 100 Inspiring Hispanic / Latinx Scientists and was recently elected honorary fellow of the British Pharmacological Society.

    College of Liberal Arts and Sciences Ceremony III (Sunday, May 11, 5:30 p.m., Gampel Pavilion): Joe La Puma ‘05

    School of Pharmacy – Bachelor of Science (Sunday, May 11, 6 p.m., Jorgensen Center for the Performing Arts): Joe Honcz ‘98

    Joe Honcz is a distinguished expert in managed care and market access, boasting a robust 25-year career that spans significant sectors of the health care industry. Early in his career, he played a pivotal role in leading teams for the launch of Medicare Part D, followed by instrumental involvement in the implementation of the Affordable Care Act while at Anthem BCBS and Aetna. Since 2020, Joe has leveraged his profound understanding of managed care to deliver strategic market access insights, empowering over 20 biotech and pharmaceutical clients to effectively navigate complex market dynamics. His contributions have been crucial in the successful launch of innovative products in both traditional and rare/orphan disease categories. As a “pharmacy futurist,” he continues to drive innovation and shape market access strategies at Petauri Health, supporting the emerging pharmaceutical and health tech industries. His exceptional ability to anticipate industry trends has consistently provided clients with strategic advantages, enabling them to stay ahead of competitors with foresight and precision. Beyond his professional endeavors, Joe is actively involved at Yale Ventures as an Entrepreneur-in-Residence and at the University of Connecticut Technology Commercialization Services in the same capacity. He has also served as an Adjunct Professor at the University of St. Joseph School of Pharmacy and is on the Board of Directors for the Academy of Managed Care Pharmacy (AMCP) and Avery’s Little Army, whose mission is to honor the legacy of Avery Marie Lafferty, an exceptionally brave cancer rebel, and all patients like her. Joe’s extensive background is complemented by diverse roles at Pfizer, Walgreens, Humana, PrecisionAQ, and CVS. He holds a Bachelor of Science in Pharmacy and a Master of Business Administration with a concentration in Marketing from the University of Connecticut, underscoring his deep roots and commitment to the field. In addition to being a Board member, he is also an AMCP diplomat to the UConn School of Pharmacy, where he fulfills his passion for mentoring and coaching.

    The Graduate School – Masters Ceremony (Monday, May 12, 9 a.m. at Gampel Pavilion): Manasse Mbonye ’95 Ph.D.

    Manasse Mbonye is a Founding Fellow of the Rwanda Academy of Sciences (RAS) and its current President. He is also the Group Leader and Professor, Rwanda Astrophysics Space and Climate Sciences Research Group (RASCSRG) at the University of Rwanda and a member of the national Science Advisory Group (SAG). By Training, Mbonye is a theoretical Astrophysicist and Cosmologist. He completed his Ph.D. from the University of Connecticut in 1995. Mbonye has taught Physics at various institutions including UConn, the University of Michigan, and RIT. He has also worked at NASA (Goddard Space Flight Center). In 2012, Mbonye returned to Africa. Since then, his appointments have included, Provost (later) Ag Rector (National University of Rwanda), the first Principal (University of Rwanda, College of Science and Technology), and Executive Secretary (Rwanda’s National Council for Science and Technology, (NCST)). During Mbonye’s tenure, NCST instituted a major review of Rwanda’s Science, Technology, Research and Innovation (STRI) policy. Further, the National Research and Innovation Agenda (NRIA) was constructed, along with its implementation enabler, the National Research and Innovation Fund (NRIF) framework. Rwanda launched the NRIF in June 2018. Mbonye has served on the East African Science and Technology Commission (EASTCO) Board of Directors as its Rapporteur (2017-2018). He has also been Chairman of the Rwanda Energy Group (REG) (2015-2018), Rwanda’s sole electric energy production source and utility company. Prof. Mbonye continues to do research and supervise students, at the University of Rwanda.

     

    UConn Health (Monday, May 12, 1 p.m. at Jorgensen Center for the Performing Arts): Manisha Juthani

    Dr. Manisha Juthani, is the Commissioner of the Connecticut Department of Public Health (DPH). Juthani is the first Indian American to serve as a commissioner in the State of Connecticut. She served as professor of medicine at Yale School of Medicine through September 2024 and currently serves as an adjunct professor of medicine. She served as Director of the Infectious Diseases Fellowship Program from 2012 to 2021. Juthani received her B.A. from the University of Pennsylvania and M.D. from Cornell University Medical College, completed Internal Medicine residency training at New York-Presbyterian Hospital/Weill Cornell campus, and served as chief resident at Memorial-Sloan Kettering Cancer Center. She came to Connecticut in 2002 as an Infectious Diseases fellow at Yale School of Medicine. During the COVID-19 pandemic, Juthani was a leader in the COVID response at Yale which led to her appointment as Commissioner of CT DPH in 2021. In the early days of the pandemic, she was a voice to help educate the public in both local and national media outlets, a role she was able to expand in her role as Commissioner. Upon joining CT DPH, she helped guide Connecticut out of the pandemic and worked to revitalize areas of public health, such as gun violence, maternal health, opioid use, and sexually transmitted diseases, that were exacerbated during the pandemic. As she continues in her role as DPH Commissioner, Juthani has shifted her core vision to “Preserve and Protect Core Public Health Principles and Services.” As Connecticut is presented with new public health challenges, she remains committed to preserving public health achievements made over the years, including improvements in regulatory oversight in health care, drinking water, and environmental health which includes food safety. It is more important than ever to highlight the importance of vaccines, control of infectious diseases, road safety, and healthier mothers and babies. Clear, accurate communication about public health risks is vital to her mission. She continues to advocate for health as a human right which is the core vision of CT DPH. Juthani is on the Board of Directors of UConn Health.

    The Graduate School – Doctoral Ceremony (Monday, May 12, 6 p.m. at Jorgensen Center for the Performing Arts): Sethuraman Panchanathan

    Sethuraman “Panch” Panchanathan is a computer scientist and engineer who served as the 15th director of the United States National Science Foundation (NSF) from 2020 until 2025. Panchanathan was nominated to by the president in 2019 and unanimously confirmed by the Senate on June 18, 2020. NSF is a $9.06 billion independent federal agency, and the only government agency charged with advancing all fields of scientific discovery, technological innovation and science, technology, engineering and mathematics education.

    Panchanathan previously served as the executive vice president of the Arizona State University (ASU) Knowledge Enterprise, where he was also chief research and innovation officer. He was also the founder and director of the Center for Cognitive Ubiquitous Computing at ASU. Under his leadership, the university increased research performance fivefold, earning recognition as the fastest growing and most innovative research university in the U.S.

    Prior to joining NSF, Panchanathan was appointed by the president to serve on the National Science Board, where he was a chair of the Committee on Strategy and a member of the External Engagement and National Science and Engineering Policy committees. Additionally, he was chair of the Council on Research of the Association of Public and Land-grant Universities and co-chair of the Extreme Innovation Taskforce of the Global Federation of Competitiveness Councils. Arizona’s governor appointed Panchanathan as senior advisor for science and technology in 2018. He was the editor-in-chief of the Institute of Electrical and Electronics Engineers (IEEE) MultiMedia magazine and editor and associate editor of several international journals.

    For his scientific contributions, Panchanathan has received numerous awards, including honorary doctorates from prestigious universities, distinguished alumni awards, the Governor’s Innovator of the Year for Academia Award, the Washington Academy of Sciences Distinguished Career Award and the IEEE-USA Public Service Award.

    Panchanathan is a member of the National Academy of Engineering and a fellow of the National Academy of Inventors, where he also served as vice president for strategic initiatives. He is also a fellow of the American Association for the Advancement of Science, the Canadian Academy of Engineering, the Association for Computing Machinery, IEEE and the Society of Optical Engineering.

    School of Law (Sunday, May 18, 10:30 a.m. at UConn School of Law): Mayor Arunan Arulampalam

    The son of Sri Lankan refugees, Arunan Arulampalam was born in Zimbabwe and made a home and a family in Hartford after graduate school. Prior to being elected mayor of Hartford in November 2023, he served as CEO of the Hartford Land Bank, where he developed a first-in-the-nation program to train Hartford residents to become local developers and tackle blight in their city. Arulampalam served in Governor Ned Lamont’s administration as Deputy Commissioner of the Connecticut Department of Consumer Protection. Before that, he was a lawyer at the downtown firm Updike, Kelly & Spellacy, P.C. Arulampalam also served on the Board of the Hartford Public Library, the House of Bread, and on the Hartford Redevelopment Authority. He earned his BA in International Studies from Emory University and his JD from Quinnipiac University School of Law.

    MIL OSI USA News

  • MIL-OSI: OTC Markets Group Welcomes BW Energy Limited to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced BW Energy Limited (Oslo Bors: BWE; OTCQX: BWERY, BWEFF), a growth-focused oil and gas company, has qualified to trade on the OTCQX® Best Market. BW Energy Limited upgraded to OTCQX from the Pink® market.

    BW Energy Limited begins trading today on OTCQX under the symbols “BWERY” and “BWEFF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

    “The OTCQX Market provides a platform for increased recognition and engagement with a wider base of US investors. BW Energy is a fast-growing oil and gas company with production and attractive development assets in Gabon, Namibia and Brazil. We expect cross-trading on OTCQX to create additional long-term value through a broader US investor base and increased trading volumes in our shares,” says Carl K. Arnet, the CEO of BW Energy.

    About BW Energy Limited
    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.

    About OTC Markets Group Inc.

    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market, and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATSTM are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network

  • MIL-OSI: HighPeak Energy, Inc. Announces 2025 First Quarter Earnings Release and Conference Call Dates

    Source: GlobeNewswire (MIL-OSI)

    FORT WORTH, Texas, April 29, 2025 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (NASDAQ: HPK) (“HighPeak Energy”), today announced that it plans to release its 2025 first quarter financial and operating results after the close of trading on Monday, May 12, 2025.

    HighPeak Energy will host a conference call and webcast on Tuesday, May 13, 2025 at 10:00 a.m. Central Time for investors and analysts to discuss its 2025 first quarter financial results and operational highlights. Participants may register for the call here. Access to the live audio-only webcast and replay of the earnings release conference call may be found here. A live broadcast of the earnings conference call will also be available on HighPeak Energy’s website at www.highpeakenergy.com under the “Investors” section of the website.  

    About HighPeak Energy, Inc.

    HighPeak Energy is a publicly traded independent oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of oil and natural gas reserves in the Midland Basin in West Texas. For more information, please visit our website at www.highpeakenergy.com.

    Investor Contact:

    Ryan Hightower
    Vice President, Business Development
    817.850.9204
    rhightower@highpeakenergy.com

    Source: HighPeak Energy, Inc.

    The MIL Network

  • MIL-OSI: Unlock Your Trading Edge With Axi at the Finance Magnates Africa Summit

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, April 29, 2025 (GLOBE NEWSWIRE) — Leading online FX and CFD broker Axi is attending this year’s Finance Magnates Africa Summit (FMAS:25), taking place on May 29-30, 2025, at the Cape Town International Convention Centre in Cape Town, South Africa.  

    Event attendees will have the opportunity to learn about Axi Select, Axi’s all-inclusive capital allocation program, designed to empower ambitious traders on their trading journey. “We invite all traders to visit our booth and explore our innovation that is Axi Select,” says Louis Cooper, Chief Commercial Officer at Axi, before adding, “We look forward to networking with follow traders and showcase the exceptional benefits of our program. Axi Select features zero registration fees, capital funding of up to $1,000,000 USD, the opportunity to earn up to 90% of the profits, and advanced tools to maximise traders’ trading potential.” 

    Additionally, visitors can explore the broker’s Introducing Broker (IB) and Affiliate programs or learn more about Axi’s longstanding partnership with Man City, Premier League Champions. Manchester City memorabilia and the club’s mascot will be on-site for photos and attendees stand the chance to win exciting prizes, including signed player shirts and other merchandise.  

    The broker has a longstanding partnership with Premier League club, Manchester City FC, as well as LaLiga club, Girona FC, and Brazilian club, Esporte Clube Bahia. In 2023, they also announced England international John Stones as their Brand Ambassador. The broker was recognised with the ‘Innovator of the Year’ award at the 2024 Dubai Forex Expo, as well as with the being named ‘Best Funded Trader Programme’ by the ADVFN International Financial Awards 2025.  

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

    About Axi 

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

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

    The MIL Network

  • MIL-OSI Russia: Getting to Know the Technologies of the Future: Participants of the SUM Accelerator Visited TechnoSpark

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    Participants of the Acceleration Interuniversity Program “City Energy. Environment 2.0”, implemented by the State University of Management, visited “TechnoSpark” and got acquainted with the latest developments. The excursion was organized by the Department of Project Management of the State University of Management.

    The event was attended by teams of students from our university, Bauman Moscow State Technical University and MIRE, who are developing the following technological startups: thermoelectric material for use in optoelectronics and solar batteries, a device for generating bioenergy, a heated thermo mug, capsule fitness clubs, a bull-machine, a system for automating warehouse complexes, a device for monitoring and cleaning air, an adaptive lighting system, a multifunctional bath, soap production and processing technology and others.

    TechnoSpark, a part of the Rusnano Group, is the industrial partner of the program, so the participants came here for expertise and to discuss measures to support their technological startup projects. It should be noted that it was at the request of TechnoSpark that the participants developed their projects and selected young specialists for their teams from other universities.

    The tour included demonstrations of the latest production sites, expert consultations with teams, and a pitch session for projects.

    Participants learned about contract manufacturing opportunities for startups and corporations and about the most powerful exoskeleton in Russia, visited a metalworking shop and saw ready-made solutions for external customers: umbrella sharing for the Metro, Tubot in-pipe robots for hard-to-reach branched pipelines for the Transneft company.

    The teams got acquainted with the latest domestic developments in warehouse management – intelligent logistics robots RONAVI Robotics for solving various tasks of warehouse and production logistics, as well as with the products and services of TEN Optics, which applies various types of coatings to glass. They saw how artificial diamonds are grown.

    Specialists and experts from MED Print companies demonstrated their own production of bone and joint implants that quickly grow into human tissue and allow to shorten and facilitate the rehabilitation period, talked about the launch of serial additive production of medical and plastic products, demonstrated finished products for people and animals. And at the Russian Flexible Electronics Center, accelerator participants learned about the production of EPD displays and other components for flexible plastic electronics in the largest clean room in Russia.

    At the end of the excursion, a pitch session was held, at which the teams presented their developments on technological projects and discussed the possibilities of further cooperation with TechnoSpark and its partners.

    “This accelerator shows the effect of the requests that the teams are developing their projects on: these are extremely popular areas of technological production in our country, these are specific partner companies that are looking for exactly these solutions. It is also great when managers, marketers, and guys from technical universities: chemists, engineers work in one team. The development of the project ceases to be just conceptual, but is overgrown with specific solutions, which we saw today in the form of models, sketches, drawings, formulas. If the guys managed to do this in two and a half months, then it will be interesting to see what they will show at Demodna, taking into account today’s comments and remarks,” said Yuri Bocharov, General Director of Contract Manufacturing TEN Group of the Rusnano Group.

    The acceleration interuniversity program “City Energy. Environment 2.0” is held at the State University of Management from February to June 2025 and is already the seventh acceleration program implemented at the State University of Management since 2022. This year, over 120 teams from 26 Russian universities are participating in it.

    Subscribe to the TG channel “Our GUU” Date of publication: 04/29/2025

    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 United Nations: Madagascar: Improving Infrastructure Resilience to Reduce Climate-Related Economic Losses

    Source: UNISDR Disaster Risk Reduction

    Madagascar: Improving Infrastructure Resilience to Reduce Climate-Related Economic Losses

    (In collaboration with UNDRR and CDRI)

    One of the world’s largest islands, located in the tropical south-west Indian Ocean, Madagascar needs new roads, schools, electricity networks, and more to lift large portions of its 30 million population out of poverty. But even as it builds this new infrastructure, its progress remains fragile. Tropical cyclones and other extreme hazard events can wipe out these development gains, and climate change multiplies that threat. 

    The challenge is significant. Madagascar is the world’s fourth largest island, and its relatively small population is spread out, much of it in rural hard-to-access areas. Most villages are isolated and they lack access to decent roads, drinking water or electricity, preventing sustainable development and poverty reduction too. Rapid population growth increases the pressure to build new infrastructure fast, but Madagascar must also find new ways to protect its transport networks, energy supplies, water supplies, and more from the growing threat of climate change. 

    Building resilience into infrastructure will bring significant benefits. Madagascar’s infrastructure currently suffers damage worth roughly USD 100 million each year. Cyclones account for 85 percent of this damage and are expected to increase with climate change.  

    With that in mind, Madagascar has become one of four countries – together with Bhutan, Chile, and Tonga – to pioneer the Global Methodology for Infrastructure Resilience Review. Developed by the UN Office for Disaster Risk Reduction (UNDRR) and the Coalition for Disaster Resilient Infrastructure (CDRI), the methodology helps countries to identify and prioritize strategies that will make their infrastructure more resilient through a five-step approach. 

    • Developing the plan
    • Developing the plan

      “With this new way of looking by zooming out, we have more of an overall vision of everything that makes infrastructure vulnerable,” Randrianandrasana Lila Norolalaina, Head of Disaster Risk Reduction at the Ministry of Education, says.

      Together, these stakeholders looked at six specific sectors – transport, energy, water, telecommunications, health and education – analyzing them against ten key hazards. Cyclones account for most of Madagascar’s recorded losses, but floods, rising sea levels, variations in rainfall patterns, and heatwaves also have an impact. 

      Cascading disasters were central to the analysis, since a failure in one infrastructure sector can spread to others. Electricity failure impacts communication, transportation, and water supply systems, for example. And pumping equipment loses power and is unable to keep floodwaters under control around the capital Antananarivo, then an electricity failure would lead to other disasters, for example. Understanding these interdependencies helps to prevent a chain of failures and thus much bigger crises

      The UNDRR stress testing tool simulated various scenarios and assessed the potential impact on different sectors. It helped decision-makers to understand their vulnerabilities and to analyse the possibilities for cascading disasters. Finally, it concluded that telecommunications and energy were the sectors most likely to trigger further failures, while wastewater management was the most vulnerable to disruptions from elsewhere. 

      Interdependencies of Functions and Cascading Effects

    • Energy
    • Energy

      Discussed within the context of resilient infrastructure, energy is also vital for Madagascar’s human development. It is, however, in short supply throughout the country and this shortage prevents the country from industrialising its key sectors, especially farming. Some 80 percent of the workforce is involved with subsistence farming, for example, while failure to industrialise prevents the creation of higher paying jobs. The lack of energy also slows the modernisation of Madagascar’s young mining sector, a major contributor to GDP, through exports of nickel, cobalt, chromium, titanium, and heavy metals.

      Madagascar aims to connect 70 percent of its population to electricity by 2030, from just 15 percent at present. For those who are connected, however, power cuts and voltage fluctuations are frequent, causing serious disruptions to daily life and economic development alike. The issue is often acute in rural areas, where just 5 percent of the population is connected.

      Stress-testing analysis, Energy

      Inadequate maintenance is part of the problem, but cyclones, heavy rains, landslides, and strong winds all lead to widespread interruptions and power outages. Two of six power stations are vulnerable to rising water levels, while earthquakes and cyber-attacks can also damage production. Droughts and fires threaten serious impacts to water supplies. They can therefore limit the production of electricity from hydropower, which accounts for 31 percent of Madagascar’s energy. 

      Resilience is a vital priority. Part of Madagascar’s resilience plan is to move away from imported fossil fuels towards renewables. Oil and coal, for example, account for 49 and 19 percent respectively of the island’s energy production, but they depend heavily on Madagascar’s transport, which is also vulnerable to storms. Madagascar wants renewables to account for 80 percent of its energy production by 2030, up from 33 percent at present. 

      Even before the review of infrastructure resilience, Madagascar had already begun to improve its energy infrastructure, through its 2015-2030 New Energy Policy (NPE). One key element of NPE is to integrate disaster risk management into the energy sector. In case of emergency, Madagascar has also developed a contingency plan to ensure continuity of essential services. With support from the World Bank, Madagascar is enhancing its energy sector management and improving service quality.

      These opportunities mainly link to information and data. Stakeholders discussed the need to strengthen and update data for monitoring and evaluation, as well as to request information and disaster risk best practices from private operators in the sector. By mapping the state of energy infrastructure, including an assessment of vulnerability and resilience levels, Madagascar will be better placed to prioritise its interventions.

      Following the Global Methodology for Infrastructure Resilience Review, therefore, Madagascar has already begun to work with other partners. The Global Risk Modelling Alliance (GRMA), for example, is working with Madagascar to improve their data through better hazard modelling.

    • Transport
    • Transport

      Made up of four sub-sectors – air, sea, road, and rail – Madagascar’s transport illustrates the country’s challenges effectively too. Even without the natural hazards, Madagascar’s transport networks are limited. To the south, for example, one single trainline connects a region of roughly 100,000 people to the rest of the country. Also in the South, covering 500km by road can take three days. 

      With limited internal roads and railways, Madagascar uses its air network to connect different parts of the vast country, especially in the rainy season or when humanitarian aid is needed urgently. Its ports are also vital for the country’s economy, exporting vanilla and other agricultural products, together with minerals and seafood products. 

      Much of this infrastructure is, however, vulnerable to disasters, such as cyclones, cyber-attacks, fire hazards, and even pandemics. Cyclones, landslides, and flooding routinely damage roads and – in the wake of Cyclone Gamane in March 2024 – reconstruction of road infrastructure was set to cost USD 76 million.

      International financial institutions, such as the World Bank and European Investment Bank, support Madagascar to recover from cyclone damage and to make their transport infrastructure more resilient. The Japan International Cooperation Agency (JICA) is supporting the USD 640 million expansion of Toamasina port, the gateway for about 75 percent of Madagascar’s international freight, while the African Development Bank (AfDB) is also considering rehabilitation of the port at Manakara. 

      Policies on rigorous maintenance, disaster planning, and construction or rehabilitation of new infrastructure, such as Ivato International Airport, will also help Madagascar to strengthen its infrastructure resilience. 

      Stress-testing analysis, Transportation

      However, the Infrastructure Resilience Review brought new insights, enabling Madagascar to prioritise its interventions. Data analysis identified:

      Stakeholders discussed the need to improve regulations and institutions alike, including by incorporating resilience principles. More work is needed on climate adaptation, while Madagascar would also benefit from better engagement with financial institutions and the insurance sector too. Better coordination would improve national adaptation plans and coastal area management. 

      Stakeholders also discussed the need for more data analysis, preventive maintenance, capacity building, and emergency planning, as well as the need to involve the private sector and facilitate more competition. 

      One key topic was the importance of resilience norms, especially in the transport sector. How does Madagascar develop these and then ensure compliance? These norms – and stakeholder compliance – are essential in reducing the amount of substandard construction, a major boost for resilience. 

    • Lessons for other countries
    • Lessons for other countries

      The Infrastructure Resilience Review represents an important step forward by Madagascar towards infrastructure resilience. Stakeholders hope it will also benefit donors and provide key lessons for other countries. 

      Resilient infrastructure is important because it enables and protects sustainable development. All too often, ferocious storms have destroyed donor-financed infrastructure, which means – in other words – that insufficient resilience puts development progress at risk.

    MIL OSI United Nations News

  • MIL-OSI United Nations: Chile: Strengthening infrastructure resilience to face new and emerging hazards

    Source: UNISDR Disaster Risk Reduction

    Chile: Strengthening infrastructure resilience to face existing and emerging hazards

    (In collaboration with UNDRR and CDRI)

    Stretching along Latin America’s Pacific coast from tropics in the north to freezing micro-climates in the south, Chile faces an array of natural hazards. Home to 20 million people, its location in the Ring of Fire and proximity to major tectonic plates exposes Chile to earthquakes and volcanic activity.

    A high-income country recognized for its good governance, Chile has reduced many of the risks associated with earthquakes and tsunamis. However, the country must also adapt to the new and intensifying hazards related to climate. 

    Chile was one of the first countries, together with Bhutan, Madagascar, and Tonga, to implement the new Global Methodology for Infrastructure Resilience Review. Developed by the UN Office for Disaster Risk Reduction (UNDRR) and the Coalition for Disaster Resilient Infrastructure (CDRI) the methodology helps countries to identify and prioritise the strategies that will build their infrastructure resilience through a five-step approach: 

    • Early start
    • Early start

      Within the disaster risk community, Chile stands out for its proactive approach to disaster risk. While saving lives is the top priority, the motivations are also economic. Between 2000 and 2019, damage to infrastructure accounted for 53 percent of all economic losses from disasters in the Latin American and Caribbean region. By enhancing its infrastructure resilience, Chile also protects its economy.

      Chile had already begun its search for new solutions to its disaster risk by the time Chile engaged with UNDRR and CDRI. In 2021, Chile replaced its National Emergency Office of the Ministry of the Interior and Public Safety (ONEMI) with SENAPRED, a new National Disaster Prevention and Response Agency, shifting the emphasis from recovery and reconstruction to disaster prevention

      Meanwhile, Chile’s new policies are also improving the resilience of Chilean infrastructure. New infrastructure projects require a disaster risk analysis, for example. Also, Chile’s 2022 Law on Climate Change (LMCC) requires sectoral, regional, and municipal authorities to reduce greenhouse gas emissions and promote resilience to climate change. Such laws complement SENAPRED’s focus on disasters by focusing on hazards that can be slower to develop, such as water scarcity and desertification. 

    • The process
    • The process

      The Global Methodology for Infrastructure Resilience Review builds on UNDRR’s six Principles for Resilient Infrastructure, which set out the key conditions for sustainable infrastructure resilience. In doing so, the principles support the Sendai Framework for Disaster Risk Reduction and Sustainable Development Goals, as well as the G20 Principles for Investing in Quality Infrastructure. 

      However, each country needs its own paths to infrastructure resilience, which is why the Global Methodology for Infrastructure Resilience Review is important. It provides a structured approach for every country to review and enhance their infrastructure governance, identifying the opportunities to create resilience across government levels. 

      Chile implemented the methodology’s five steps at the national level from June 2023 to May 2024. A deep dive was then completed for the Biobío region in December 2024, adapting the Global Methodology to the regional level. The analysis focused on six sectors – water, energy, transportation, telecommunications, health and education. 

      The government was well represented throughout the process, bringing together stakeholders from the ministries of public works (MOP), transport and telecommunications (MTT), energy (MINEN), education (MINEDUC), health (MINSAL), social development (MIDESO), housing and urban planning (MINVU), international relations (MINREL), finance, defence, and environment (MMA). 

      While this broad representation in the assessment and workshops created a truly multi-stakeholder approach, the Chile pilot also looked at the role of the private sector, which manages a large portion of the country’s infrastructure. This raised questions in terms of coordination, information asymmetries, and the incentives for private companies to invest in disaster risk reduction. When a private company is managing public assets, for example, how can incentives be aligned so that the private company puts the public interest before its desire for profit?

    • Recognising drought
    • Recognising drought

      Stakeholders highlighted discussions of risk as a major strength, noting that the stress testing allowed for a broader assessment of existing infrastructure vulnerabilities, including pandemics and cyber risks. While other threats—such as violence, sea level rise, atmospheric pollution, invasive exotic species, and diseases—were considered, they were ultimately excluded from further analysis due to their limited impact on infrastructure.

      Click to download the Prioritization of Threats in Chile table in PDF

      Drawing from data analysis and workshop discussions, participants ranked the greatest threats to Chilean infrastructure in the following order: drought, fires, floods, landslides, earthquakes, tsunamis, heat waves, tidal waves, and volcanic eruptions.

      Drought and water scarcity emerged as a priority because of their interdependent nature and potential cascading impacts on infrastructure systems. Around 53 percent of Chile’s territory is considered at high risk of drought, and 23 percent is at high risk of desertification. The central areas of Chile have experienced a nearly continuous megadrought since 2010.

      “The application of the global methdology allowed us to break new ground by conducting a hazard analysis in Chile specifically targeted to infrastructure, consolidating a systemic view and adding new elements that had previously gone unnoticed, such as droughts,” stated Luis Doñas, Project Coordinator, SENAPRED

      “Chile must now analyse these factors more closely to generate appropriate investment and make progress on key issues identified by stakeholders: territorial application, unification of information systems, strengthening intersectoral resilience training, and more decisive private sector involvement,” add Doñas

    • Protecting water
    • Protecting water

      Throughout the assessment, stakeholders distinguished between their infrastructure’s direct economic value and its critical functions. They also examined vulnerabilities, highlighting how the frequency and impact of different hazards can vary significantly between the regions. 

      Beyond these individual risks, the discussions also explored interdependencies between sectors and the potential for cascading failures. One key example is the relationship between water and energy in Chile. 

      After more than a decade of mega-drought, water supply companies have implemented contingency measures to limit the impacts in urban areas. However, the sustained dry conditions have seriously affected drinking water, irrigation, and other vital needs in rural areas. The proposed infrastructure assessment integrates advanced technology – such as desalination plants – with ongoing training and public education. Through a combination of short-, medium-, and long-term actions, the plan aims to enhance the resilience and sustainability of Chile’s water resources. 

      Water supply is not an isolated system, of course. It relies on other critical infrastructure, such as energy and transportation. Energy, in particular, is a priority as every other sector depends on it. A failure in the energy sector could trigger widespread cascading effects. To protect its energy infrastructure, Chile’s plan promotes advanced technologies and renewable energy solutions, reducing dependence on fossil fuels and strengthening long-term resilience.

    • Next steps
    • Next steps

      The process initiated in Chile concluded with establishing a Roadmap for Infrastructure Resilience, a strategic guide that will shape actions in this area for years to come. While the Roadmap outlines a series of proposals across six key infrastructure sectors, it also lays out a broader pathway for Chile to strengthen its infrastructure governance. 

      This includes better coordination, the incorporation of risk analysis into infrastructure planning and investment, better compliance, and more available and accessible risk data, including interactive platforms and information exchanges. In other words, Chile is committed to building more resilience into its infrastructure. 

      With this in mind, Chile has come up with three immediate actions.

      Click to download the Immediate Intervention scheme in PDF

      First, the Roadmap suggests establishing an intersectoral working group so that the necessary sectors and ministries can develop shared definitions and guidelines for resilient infrastructure. This group will receive extra training from a “Resilience Academy” involving both national and international experts. 

      Second, recognizing the sheer variety of hazards and territorial conditions across the country, Chile launched a regional-level infrastructure assessment to deepen risk analysis and develop improvements to governance. This process began in the Biobío Region, one of Chile’s 16 regions.

      Roughly 40 percent of Chile’s population and 40 percent of its economic activity are concentrated in the central region, where Santiago, the capital, is located. As a result, this area has a higher density of critical infrastructure increasing the infrastructure exposure to hazards. At the same time, remote regions remain highly vulnerable, as they often lack the resources and preparedness to withstand disasters effectively. 

      Each territory has its own unique needs, making it essential to tailor disaster risk reduction to local context.

      Distribution of hazards in micro-zones over the period 2000-2023

      Third, Chile will design and pilot an integrated data hub to consolidate risk-related information, enabling better monitoring, evaluation, and decision-making in risk management. The integrated data centre will serve as a unified system for tracking, reporting, and verifying the fragmented infrastructure resilience assessments and diagnostics currently dispersed across different sectors and agencies. By centralising this information, Chile will strengthen infrastructure planning and enhance its disaster risk reduction. 

      Implementing these and other measures will also move Chile towards a more resilient infrastructure, aligning with UNDRR’s principles for resilient infrastructure. This will better position the country to tackle current challenges, but also to enhance its ability to adapt to new and emerging hazards. 

      Collaboration will be key to success. Achieving resilience will require continued collaboration between government, business, and civil society. By enabling new analyses and multi-stakeholder workshops, the Global Methodology for Infrastructure Resilience Review has played a crucial role in fostering vital trust between the different stakeholders. 

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: Commerce Secretary Shri Sunil Barthwal Engages with Croatian Counterparts to Strengthen Bilateral Economic Cooperation

    Source: Government of India

    Commerce Secretary Shri Sunil Barthwal Engages with Croatian Counterparts to Strengthen Bilateral Economic Cooperation

    India and Croatia Discuss Collaboration in Railways, EVs, Defence, Healthcare,  Renewable Energy, and Food Processing Sectors

    Posted On: 29 APR 2025 11:16AM by PIB Delhi

    Commerce Secretary, Government of India, Shri Sunil Barthwal, visited the Republic of Croatia from 22–23 April 2025, where he held bilateral discussions with Mr. Zdenko Lucić, State Secretary for Foreign Trade and Development, Ministry of Foreign and European Affairs, and Mr. Ivo Milatić, State Secretary, Ministry of Economy. The meetings focused on advancing India-Croatia trade and investment relations, promoting sectoral collaboration, and reinforcing India’s engagement with the Central European region.

    During the meeting with Mr. Zdenko Lucić, State Secretary for Foreign Trade and Development,discussions centered around taking forward the EU-India Free Trade Agreement (FTA) and enhancing bilateral trade cooperation.The discussions focused on taking forward the EU-India FTA and strengthening bilateral trade relations. The Commerce Secretary mentioned the visit of EU President and 27 Commissioners to India as the first visit of the College of Commissioners outside the European continent since the start of their new mandate and also the first such visit in the history of India-EU bilateral ties. Commerce Secretary mentioned about the areas of collaboration between the two countries like Railways, Global Capability Centers, Electric Vehicles, IT etc. Croatian side apprised about their interest of investment in Defence sector (about flagship products of India), solar cells production, food processing technology, Automobiles, knowledge sharing amongst other sectors.

    In the meeting of Commerce Secretary with Mr. Ivo Milatić, State Secretary, Ministry of Economy, discussion was focused on promoting investment flows, and enhancing cooperation across key sectors including Healthcare, Education, Tourism, Entertainment (mentioned about WAVES summit), Supply-Chain integration, Logistics, Transports, Pharmaceuticals, Digital Technology, Renewable Energy and Manufacturing. For the 3rdSession of Joint Commission on Economic Cooperation which is due, both sides exchanged their views on improving the work of the commission with more frequent meetings and directly connecting the entrepreneurs of both the countries for a stronger and faster progress.

    The Commerce Secretary also participated in a business interaction event “Exploring Economic Cooperation Opportunities between India and Croatia” organized by the Croatian Chamber of Economy (CCE), where he met with the heads of various industry associations and leading Croatian business representatives. A presentation on the Croatian Economy, the trade and investment relations between India and Croatia and Industries potential on key sectors of mutual interest was shown. The event provided a platform to explore opportunities for collaboration, address trade facilitation measures, and promote mutual business interests. Successful business cases of Croatian Companies in the Indian Market were also presented.

    The visit reaffirmed India’s commitment to strengthening engagement with the Central European region and underscored the shared interest in expanding commercial partnerships between Indian and Croatian enterprises.

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    Abhishek Dayal/Abhijith Narayanan

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