NewzIntel.com

Category: Energy

  • MIL-OSI Security: U.S. Attorney’s Office Secures Conviction of Two Former Jal Police Officers for Civil Rights Violations

    Source: Office of United States Attorneys

    ALBUQUERQUE – A federal jury has convicted two former Jal Police Department officers of violating the civil rights of an individual, identified as John Doe in the indictment, during a July 2021 incident, after which John Doe died. The verdict came after a seven-day trial and approximately 13 hours of deliberation.

    According to court documents and evidence presented at trial, on July 31, 2021, former Jal Police Officer Corey Patrick Saffell, 35, stopped John Doe for driving without headlights at the Pilot Gas Station in Jal, NM. Former Jal Police Officers Ceasar Enrique Mendoza, 28, and Robert Edward Embly, 43, arrived shortly thereafter.

    The situation quickly escalated when Saffell accused John Doe of presenting false identification. John Doe was subsequently handcuffed and forced into a small cage in Saffell’s K9 unit, where an aggressive dog was barking. When John Doe struggled to enter the small space, Mendoza deployed his taser on John Doe 13 times while Saffell yelled at him to keep tasing John Doe. The men then moved John Doe to Embly’s patrol car with a full backseat, where he was tased a 14th time.

    At no point during the incident did John Doe, who was handcuffed throughout the entire encounter, attempt to flee, make threats or aggressive statements, or act combatively to Saffell, Mendoza, or Embly.  After placing John Doe in the back of Embly’s unit, none of the officers checked on John Doe or monitored him, as they were trained to do after deploying their taser on him.

    At the jail, the men dragged John Doe’s limp, unconscious body into a cell and laid him on his stomach while still handcuffed. Despite John Doe’s deteriorating condition, including appearing unconscious and having urinated on himself, the men did not seek medical attention. The first time any of the officers requested medical attention for John Doe was only after it was determined John Doe stopped breathing and had no pulse, at which time the officers finally commenced life-saving measures. John Doe was pronounced dead at 1:15 a.m. on July 31, 2021.

    Mendoza and Embly were convicted on three counts of deprivation of rights under color of law each, specifically use of unreasonable force, failure to intervene, and deliberate indifference to John Doe’s serious medical need.

    Following the verdict, the Court ordered that Mendoza and Embly remain on conditions of release pending sentencing, which has not been scheduled. At sentencing, Mendoza and Embly each face up to 10 years in prison per count of conviction.

    On September 10, 2024, Saffell pled guilty to three counts of deprivation of rights under color of law, specifically unlawful arrest, failure to intervene, and deliberate indifference to serious medical needs. At sentencing, Saffell faces up to 10 years in prison per count of conviction. Saffell remains on conditions of release pending sentencing, which has not been set.

    Acting U.S. Attorney Holland S. Kastrin and Raul Bujanda, Special Agent in Charge of the FBI Albuquerque Field Office, made the announcement today.

    The Las Cruces Resident Agency of the FBI Albuquerque Field Office investigated this case with assistance from the Hobbs Police Department, Carlsbad Police Department, Lea County Sheriff’s Office, Jal Police Department, and New Mexico State Police. Assistant U.S. Attorneys Matilda McCarthy Villalobos and Marisa A. Ong are prosecuting the case.

    MIL Security OSI –

  • MIL-OSI: ALR Miner Provides Free Mining Contracts to Increase Passive Income

    Source: GlobeNewswire (MIL-OSI)

    London, UK, Feb. 28, 2025 (GLOBE NEWSWIRE) — ALR Miner, a leading cloud mining platform founded in 2018 and headquartered in the UK, today shared insights on how cloud mining can help investors earn passive income without incurring the costs associated with traditional mining.

    ALR Miner has deployed more than 60 large-scale mining data centers in many countries around the world, relying on renewable energy such as solar and wind power to carry out clean energy cloud mining business, which also greatly reduces the cost of mining. The company serves more than 6 million users in 180 countries and regions.

    Advantages of Cloud Mining
    Traditional mining requires a large investment in high-performance hardware and other resources, and users need to spend thousands of dollars to start mining, which is difficult for ordinary investors to accept. In contrast, cloud mining allows users to rent mining power from providers without a large upfront investment, and it is easier for individuals to participate in cryptocurrency mining without financial pressure. The advantages of cloud mining include:

    Accessibility: People around the world can access cloud mining services through the Internet.
    Cost-effectiveness: No hardware equipment needs to be purchased, and no electricity bills need to be paid.
    Technical expertise: No need to assemble equipment, optimize its performance, or solve technical problems.
    Scalability: Flexible contract plans, choose according to your own financial budget.
    Energy efficiency: Use renewable clean energy as mining power to protect the environment.
    Quick returns: The profit will be settled within 24 hours after the contract takes effect, and the principal will be returned when the contract expires.

    Get started with ALR Miner

    Step 1: Create an account and get a $12 bonus instantly

    ALR Miner has a simple registration process. You only need an email address to create an account. After registration, you can participate in cloud mining for free, and you can get a $0.6 bonus for daily check-ins.

    Step 2: Activate your account and choose a contract

    Choose a mining contract that suits your budget and goals. ALR Miner offers a variety of contracts with different terms and different returns. Whether you are a novice or an experienced investor, the platform can meet your needs.
    Basic Cloud Computing Power: $100 investment, 2-day cycle, $6.6 total profit
    Basic Cloud Computing Power: $1,200 investment, 14-day cycle, $225 total profit
    Smart Cloud Computing Power: $3,200 investment, 21-day cycle, $974 total profit
    Classic Cloud Computing Power: $5,100 investment, 30-day cycle, $2,295 total profit
    Classic Cloud Computing Power: $8,200 investment, 40-day cycle, $5,379 total profit
    Advanced Cloud Computing Power: $30,000 investment, 50-day cycle, $26,400 total profit
    For more new contracts, please visit the official website: https://www.alrminer.com.

    Step 3: Activate your account and wait for your earnings to arrive

    As your mining activities progress, you will begin to see profits accumulating in your account. Track your performance through the platform’s dashboard and withdraw your earnings when you are ready.
    Advantages of ALR Miner

    Global accessibility: People around the world can access cloud mining services through the internet, eliminating geographical barriers.
    Intuitive and simple interface: The platform’s user-friendly interface ensures that even cryptocurrency novices can easily navigate.
    Professional and experienced team: Provide a 24/7 online manual customer service team to ensure that users can solve problems in a timely manner.
    Own cutting-edge equipment: Use mining equipment provided by top mining machine manufacturers such as Bitmain, Shenma Miner, Canaan Creative, etc. to ensure stable operation and efficient production capacity of Bitcoin mining machines.
    Eliminate hardware maintenance: Take care of all hardware, maintenance, upgrades and troubleshooting, allowing users to focus on receiving the cryptocurrencies they mine.
    Clean energy efficiency: Each mine is equipped with solar and wind power infrastructure.
    Support for multiple popular cryptocurrencies: ALR Miner supports DOGE, BTC, ETH, USDC, USDT, BCH, LTC, XRP, SOL, etc. for settlement.
    Alliance reward program: As long as the users you invite purchase platform contracts, you will receive a generous referral reward of up to 3–5%; becoming a professional alliance partner can also receive an additional monthly salary reward of up to $15,000.

    The benefits of ALR Miner are significant and varied, providing an attractive entry point into cryptocurrency mining through cost-effectiveness and accessibility. Whether you are new to mining or an experienced investor, ALR Miner’s platform makes it easy for you to maximize your profits.

    For more information, please visit the official website: https://www.alrminer.com

    About ALR Miner
    Founded in 2018 and headquartered in Monmouthshire, ALR Miner is a leading cryptocurrency mining platform, mining equipment distributor and complete mining solution provider. We have advanced cryptocurrency mining equipment, sites, maintenance facilities and cheap clean electricity. For more information, please visit https://www.alrminer.com or email info@alrminer.com.

    Disclaimer: The information provided in this press release is not a solicitation to invest and is not intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risks. There is a possibility of loss of funds. You are strongly advised to perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    Olivia Miller 
    Marketing Manager
    Alr Miner
    +44 7514 226545
    info@alrminer.com
    WhatsApp+44 7514 226545

    The MIL Network –

  • MIL-OSI: Admirals Group AS Unaudited Financial Results for 12 months of 2024

    Source: GlobeNewswire (MIL-OSI)

    Admirals Group AS Unaudited Financial Results for 12 months of 2024

    Despite lower client activity, Admirals Group AS delivered resilient trading income and positive EBITDA through effective cost control measures.

    • The Group’s net trading income decreased by 6% to EUR 38.4 million (2023: EUR 40.9 million), being supported by higher volatility on the financial markets.

    • The Group’s total operating expenses decreased by 16% to EUR 42.4 million (2023: EUR 50.3 million) as a result of cost optimisation efforts.

    • EBITDA was EUR 0.9 million (2023: EUR -6.5 million).

    • Net loss was EUR -1.6 million (2023: EUR -9.7 million).

    Although the income was supported by higher volatility in financial markets, Group’s cost optimisation effort was partly muted due to voluntary suspension of new client registrations in the Cyprus based operating company Admirals Europe Ltd. This company acts as the primary service entity of the Group in the EU which is one of the core markets for the Group’s business. The suspension started in April 2024 is voluntary and temporary in nature and it was necessary to allow for the implementation of required technical and organisational measures to ensure satisfactory alignment of Group’s product governance efforts with objectives and needs of it’s European clients. At the same time other Group entities continued to carry out their services uninterrupted as usual.

    Statement of Financial Position

    (in thousands of euros) 31.12.2024 31.12.2023
    Assets    
    Cash and cash equivalents 41,607 41,025
    Due from investment companies 18,736 18,961
    Financial assets at fair value through profit or loss 1,228 5,062
    Loans and receivables 8,315 4,772
    Inventories 665 311
    Other assets 2,092 2,137
    Tangible fixed assets 1,359 1,950
    Right-of-use assets 2,541 2,603
    Intangible assets 3,304 5,147
    Total assets 79,847 81,968
         
    Liabilities    
    Financial liabilities at fair value through profit or loss 334 224
    Liabilities and accruals 3,326 4,318
    Deferred tax liability 0 1
    Subordinated debt securities 4,103 4,102
    Lease liabilities 2,818 2,894
    Total liabilities 10,581 11,539
         
    Equity    
    Share capital 250 250
    Own shares -456 -315
    Statutory reserve capital 25 25
    Currency translation reserve 30 -834
    Retained earnings 69,417 71,276
    Total equity attributable to owners of the parent 69,266 70,402
    Non-controlling interest 0 27
    Total equity 69,266 70,429
    Total liabilities and equity 79,847 81,968

     Statement of Comprehensive Income

    (in thousands of euros) 2024 2023
    Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers 40,653 46,276
    Brokerage and commission fee revenue 1,408 2,134
    Brokerage and commission fee expense -3,558 -5,118
    Other trading activity related income 489 412
    Other trading activity related expense -583 -2,768
    Net income from trading 38,409 40,936
    Other income similar to interest 947 171
    Interest income calculated using the effective interest method 424 900
    Interest expense -472 -496
    Other income 3,004 741
    Other expenses -233 -185
    Net losses on exchange rate changes -1,016 -984
    Profit / (loss) from financial assets at fair value through profit or loss -444 61
    Personnel expenses -13,394 -15,231
    Operating expenses -25,412 -31,875
    Depreciation of tangible and intangible assets -2,594 -2,310
    Depreciation of right-of-use assets -787 -837
    (Loss) before income tax -1,568 -9,109
    Income tax -24 -616
    (Loss) for the reporting period -1,592 -9,725
    Other comprehensive income / (loss):    
    Items that subsequently may be reclassified to profit or loss:    
    Currency translation adjustment 864 -165
    Total other comprehensive income / (loss) for the reporting period 864 -165
    Total comprehensive (loss) / income for the reporting period -728 -9,890
    Net (loss) attributable to the owners of the parent -1,592 -9,746
    Net profit attributable to non-controlling interest 0 21
    (Loss) for the reporting period -1,592 -9,725
    Total comprehensive (loss) attributable to the owners of the parent -728 -9,911
    Total comprehensive income attributable non- controlling interest 0 21
    Total comprehensive (loss) for the reporting period -728 -9,890
    Basic and diluted earnings per share -0.65 -3.95

    Additional information: 

    Lauri Reinberg 
    Chief financial officer of Admirals Group AS
    lauri.reinberg@admiralmarkets.com 
    +372 6309 300
    https://www.admirals.group/

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: Welsh Secretary’s message on St David’s Day

    Source: United Kingdom – Executive Government & Departments

    News story

    Welsh Secretary’s message on St David’s Day

    Jo Stevens celebrates UK Government delivery in Wales this St David’s Day and looks to the year ahead.

    Welsh Secretary Jo Stevens.

    For the first time as Welsh Secretary, I’m delighted to be able to wish everyone across Wales a happy St David’s Day. 

    Following the election last July, we promised to deliver change and that is what we have begun to do.

    We pledged safer streets, green energy and, above all, new jobs and economic growth for people across Wales. Underpinning all of this was the promise of a transformed relationship between the UK and Welsh Governments – a partnership that delivers for the people of Wales.

    And we have begun the work to deliver on our guiding missions in every part of the country. This work will continue to accelerate during 2025.

    We want a health system fit for the future for Wales and in the Autumn Budget we provided a record settlement of £21 billion to the Welsh Government. It now has £1.7 billion extra next year on public services in Wales especially on improving the NHS and driving down waiting lists.

    We now have two governments in Wales, working together to ensure that we reform the NHS and other public services to deliver for you. 

    As we make our streets safer, people in Wales can expect to see more police back on the beat. 

    We are investing in 13,000 additional neighbourhood officers, PCSOs, and special constables across Wales and England and these officers will work to restore the visible, accessible policing that our communities deserve.

    The UK Government’s mission to make Britain a clean energy superpower provides huge opportunities for Wales.

    Earlier this week I was delighted to announce a major investment of £600m in Bute Energy’s onshore wind energy parks which will be built the length and breadth of Wales and generate the clean power we need as well creating 2,000 jobs in the process. 

    This investment is landmark deal for the sector in Wales and cements our position as a centre for major clean energy investment.

    Similarly, the golden opportunity of floating offshore wind will be a critical part of our clean energy mission. Wales can lead the world in the creation of huge turbines in the seas off our coastline that will help drive down energy bills and create the jobs of the future. Bringing more of that investment into Wales a priority for this year.

    Above all, our mission is to kickstart economic growth.

    We have already seen huge investment come to North Wales at Eren Holdings and Kellanova, creating and securing hundreds of jobs. 

    The two Investment Zones in Cardiff and Newport and Wrexham and Flintshire are a crucial part of our work with Welsh Government to provide a rocket-boost to sector strengths like creative industries, life sciences and advanced manufacturing.

    We’ve given the green light for Welsh freeports to unlock billions in private investment and galvanise almost 20,000 jobs in our port communities like Milford Haven, Port Talbot and Holyhead.

    Our plans will also see us drive growth in individual communities. Earlier this month we announced a £15 million funding package dedicated to two major cultural projects in Wales – £10m for Venue Cymru in Conwy and £5 million was allocated to the Newport Transporter Bridge. This funding helps ensure these landmarks remain valuable resources for their areas. These projects are not just about preserving heritage; they are about driving economic growth, creating jobs, and showcasing Wales as a leader in tourism and culture.

    And our investment in the community of Port Talbot stands as a testament to our determination to drive growth, and not to accept decline for out industrial areas.

    Within weeks of coming to office we had secured a better deal with Tata Steel. And then weeks later tens of millions of pounds began to be released into the community – money that had previously not been spent despite the clear need to support the workforce, local businesses and the community. 

    So far more than £50m has been announced. That money is funding initiatives in Port Talbot ranging from the creation of an £8.2m industrial site in the town creating new products for the steel and metal industries, to providing individual training opportunities for Tata steelworkers or their families. 

    In the coming year I will ensure that the rest of the Transition Board money is invested in the community of Port Talbot.

    In just a few short months, the new UK Government has made significant strides in transforming Wales building on our strengths in industry, green energy and, most of all, our people. There is still work to do but I know Wales will continue to be a brilliant place to do business. 

    I’d like to send my best wishes to everyone celebrating our national day in Wales and around the world.

    Updates to this page

    Published 28 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: TUV comments on first meeting of Intertrade UK

    Source: Traditional Unionist Voice – Northern Ireland

    North Antrim TUV MLA Timothy Gaston said:
    “Last week Stormont debated the Spring Supplementary Estimates. Contained within the Department for the Economy allocations was a resource spend for InterTradeIreland of £6.429 million. There wasn’t a penny within the estimates or the budget for Intertrade UK. “Back in October, the Minister for the Economy told me that the budget for InterTradeIreland had increased by £1,841,000 since the introduction of the Protocol and three additional staff had been taken on.
    “InterTrade Ireland have permanent offices in Newry. I currently have questions down about the total number of staff they employ. The most recent annual report on their website (2022) shows that at that time they employed over 50 staff.
    “As I pointed out during the debate on the estimates, there isn’t a penny coming from Stormont for InterTrade UK.
    “It is important to remember that the idea of InterTrade UK originated with TUV. We never believed that it would be a substitute for getting rid of the Protocol but we did propose it as a body which could promote trade across the UK. We even produced a policy paper in January 2021 in which we made it clear that InterTrade UK would require as a minimum staff and resources akin to InterTrade Ireland.
    “While the existence of the body is welcome and there have been some good appointments, unless or until InterTrade UK has a statutory basis, a budget in the millions of pounds, offices and full time staff its ability to deliver will be a mere drop in the ocean compared to its all-Ireland counterpart.”

    MIL OSI United Kingdom –

  • MIL-OSI USA: Lankford Calls to Reverse Biden Admin’s Green Energy Regulations

    US Senate News:

    Source: United States Senator for Oklahoma James Lankford

    February 28, 2025

    WASHINGTON, DC – Senator James Lankford (R-OK), Republican Conference Vice Chair, delivered remarks calling out the Biden Administration’s harmful energy regulations that put us in an energy emergency and urging solutions to fix it . Lankford is Chair of the Senate Finance Committee Subcommittee on Energy, Natural Resources, and Infrastructure.
    CLICK HERE to download Lankford’s remarks on Box.
    CLICK HERE to watch Lankford’s remarks on YouTube.
    Excerpt
    “Energy policies should be just common sense conversation. It shouldn’t be political. It should be—what do Americans need? And we should look beyond just today that the lights are on. We should at least look two years in the future and to say what’s about to happen in the country with our electric grid? Anticipate the problems that are coming. Make changes in policy here to make sure we don’t have an emergency there. So let’s declare the American Energy Emergency. Let’s fix it before we have the challenges that are coming in just a few short months.”

    MIL OSI USA News –

  • MIL-OSI Europe: Press conference following Council of Ministers meeting no. 116

    Source: Government of Italy (English)

    28 Febbraio 2025

    Council of Ministers meeting no. 116 was held at Palazzo Chigi today. Following the meeting, Minister of Economy and Finance Giancarlo Giorgetti and Minister of the Environment and Energy Security Gilberto Pichetto Fratin held a press conference to illustrate the measures adopted.

    [This video is available in Italian only]

    MIL OSI Europe News –

  • MIL-OSI Global: Coastal economies rely on NOAA, from Maine to Florida, Texas and Alaska – even if they don’t realize it

    Source: The Conversation – USA – By Christine Keiner, Chair, Department of Science, Technology, and Society, Rochester Institute of Technology

    U.S. fishing industries, both commercial and recreational, rely on healthy coastal areas. Wolfgang Kaehler/LightRocket via Getty Images

    Healthy coastal ecosystems play crucial roles in the U.S. economy, from supporting multibillion-dollar fisheries and tourism industries to protecting coastlines from storms.

    They’re also difficult to manage, requiring specialized knowledge and technology.

    That’s why the National Oceanic and Atmospheric Administration – the federal agency best known for collecting and analyzing the data that make weather forecasts and warnings possible – leads most of the government’s work on ocean and coastal health, as well as research into the growing risks posed by climate change.

    The government estimates that NOAA’s projects and services support more than one-third of the nation’s gross domestic product. Yet, this is one of the agencies that the Trump administration has targeted, with discussions of trying to privatize NOAA’s forecasting operations and disband its crucial climate change research.

    As a marine environmental historian who studies relationships among scientists, fishermen and environmentalists, I have seen how NOAA’s work affects American livelihoods, coastal health and the U.S. economy.

    Here are a few examples from just NOAA’s coastal work, and what it means to fishing industries and coastal states.

    Preventing fisheries from collapsing

    One of the oldest divisions within NOAA is the National Marine Fisheries Service, known as NOAA Fisheries. It dates to 1871, when Congress created the U.S. Commission of Fish and Fisheries. At that time, the first generation of conservationists started to worry that America’s natural resources were finite.

    By conducting surveys and interviewing fishermen and seafood dealers, the fish commissioners discovered that freshwater and saltwater fisheries across the country were declining.

    Looking back on 150 years of NOAA’s fisheries history.

    Oil spills and raw sewage were polluting waterways. Fishermen were using high-tech gear, such as pound nets, to catch more and more of the most valuable fish. In some areas, overfishing was putting the future of the fisheries in jeopardy.

    One solution was to promote aquaculture, also known as fish or shellfish farming. Scientists and entrepreneurs reared baby fish in hatcheries and transferred them to rivers, lakes or bays. The Fish Commission even used refrigerated railroad cars to ship fish eggs across the country.

    Today, U.S. aquaculture is a US$1.5 billion industry and the world’s fastest-growing food sector. Much of the salmon you see in grocery stores started as farm-raised hatchlings. NOAA provides training, grants and regional data to support the industry.

    Men carry pails of fish specimens to a U.S. Fish Commission ‘fish car’ – a train car designed specifically for transporting fish or fish eggs to stock U.S. rivers, lakes and coastal waters – in this historical photo.
    Smithsonian Institution Archives

    NOAA Fisheries also helps to regulate commercial and recreational fishing to keep fish populations healthy and prevent them from crashing.

    The 1976 Magnuson-Stevens Fishery Conservation and Management Act and other laws implemented catch limits to prevent overfishing. To develop fair regulations and combat illegal practices, NOAA and its predecessors have worked with fishing organizations through regional fishery management councils for decades.

    These industries generate $321 billion in sales and support 2.3 million jobs.

    Restoring coral reefs to help marine life thrive

    NOAA also benefits U.S. coastal communities by restoring coral reefs.

    Corals build up reefs over centuries, creating “cities of the sea.” When they’re healthy, they provide nurseries that protect valuable fish species, like snapper, from predators. Reefs also attract tourism and protect coastlines by breaking up waves that cause storm-driven flooding and erosion.

    The corals of Hawaii, Florida, Puerto Rico and other tropical areas provide over $3 billion a year in benefits – from sustaining marine ecosystems to recreation, including sport fishing.

    However, reefs are vulnerable to pollution, acidification, heat stress and other damage. Warming water can cause coral bleaching events, as the world saw in 2023 and 2024.

    NOAA monitors reef health. It also works with innovative restoration strategies, such as breeding strains of coral that resist bleaching, so reefs have a better chance of surviving as the planet warms.

    Battling invasive species in the Great Lakes

    A third important aspect of NOAA’s coastal work involves controlling invasive species in America’s waters, including those that have menaced the Great Lakes.

    Zebra and quagga mussels, spiny water flea and dozens of other Eurasian organisms colonized the Great Lakes starting in the late 1900s after arriving in ballast water from transoceanic ships. These invaders have disrupted the Great Lakes food web and clogged cities’ water intake systems, causing at least $138 million in damage per year.

    Zebra mussels found attached to this boat at an inspection station in Oregon show how easily invasive species can be moved. The boat had come from Texas and was on its way to Canada.
    Oregon Department of Fish & Wildlife, CC BY-SA

    In the Northwest Atlantic, Caribbean and Gulf of Mexico, invasive lionfish, native to Asia and Australia, have spread, preying on native fish essential to coral reefs. Lionfish have become one of the world’s most damaging marine fish invasions.

    NOAA works with the Coast Guard, U.S. Geological Survey and other organizations to prevent the spread of invasive aquatic species. Stronger ballast water regulations developed through the agency’s research have helped prevent new invasions in the Great Lakes.

    Understanding climate change

    One of NOAA’s most crucial roles is its leadership in global research into understanding the causes and effects of climate change.

    The oil industry has known for decades that greenhouse gases released into the atmosphere from burning fossil fuels would raise global temperatures.

    Evidence and research from around the world have connected greenhouse gas emissions from human activities to climate change. The data have shown how rising temperatures have increased risks for coastal areas, including worsening heat waves and ocean acidification that harm marine life; raising sea levels, which threaten coastal communities with tidal flooding and higher storm surges; and contributing to more extreme storms.

    NOAA conducts U.S. climate research and coordinates international climate research efforts, as well as producing the data and analysis for weather forecasting that coastal states rely on.

    Why tear apart an irreplaceable resource?

    When Republican President Richard Nixon proposed consolidating several different agencies into NOAA in 1970, he told Congress that doing so would promote “better protection of life and property from natural hazards,” “better understanding of the total environment” and “exploration and development leading to the intelligent use of our marine resources.”

    The Trump administration is instead discussing tearing down NOAA. The administration has been erasing mentions of climate change from government research, websites and policies – despite the rising risks to communities across the nation. The next federal budget is likely to slash NOAA’s funding.

    Commercial meteorologists argue that much of NOAA’s weather data and forecasting, also crucial to coastal areas, couldn’t be duplicated by the private sector.

    As NOAA marks its 55th year, I believe it’s in the nation’s and the U.S. economy’s best interest to strengthen rather than dismantle this vital agency.

    Christine Keiner conducted research at the NOAA Library for her books “The Oyster Question” and “Deep Cut.”

    – ref. Coastal economies rely on NOAA, from Maine to Florida, Texas and Alaska – even if they don’t realize it – https://theconversation.com/coastal-economies-rely-on-noaa-from-maine-to-florida-texas-and-alaska-even-if-they-dont-realize-it-250016

    MIL OSI – Global Reports –

  • MIL-OSI: AB Amber Grid Operating Results for the year 2024

    Source: GlobeNewswire (MIL-OSI)

    AB Amber Grid
    Legal entity code: 303090867
    Address: Laisvės pr. 10, LT-04215 Vilnius, Lithuania
    AB Amber Grid Operating Results for the year 2024
     
    28 February 2024
     
    AB Amber Grid delivers unaudited results for the year 2024 prepared in accordance with International Financial Reporting Standards:
    • Revenue for the year 2024 EUR 74.6 million (the year 2023 EUR 81.3 million);
    • Net profit for the year 2024 EUR 8.3 million (the year 2023 EUR 13.4 million);
    • EBITDA (earnings before interest, taxes, depreciation and amortisation) for the year 2024 EUR 26.5 million (the year 2023 EUR 25.7 million);
    • Return on equity (ROE) for the year 2024 4.6% (the year 2023 7.2%).

     Adjusted financial indicators for the years 2024:
    • Adjusted net profit for the year 2024 EUR 10.1 million (the year 2023 EUR 9.2 million);
    • Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the year 2024 EUR 27.4 million (the year 2023 EUR 24.7 million);
    • Average return on equity (ROE) for the year 2024 5.5% (the year 2023 5.0%).

    The adjustment of regulated income, costs and profitability indicators is carried out due to temporary regulatory difference from the regulated profitability approved by National Energy Regulatory Council (NERC). When calculating adjusted indicators, the correction of income is assessed due to previous periods, which is already approved by the decision of NERC in determining the regulated prices of transmission services for the reporting period. Also, the indicators are adjusted by the deviation of the NERC approved (regulated) and actual profitability of the reporting period, which NERC will evaluate when determining the transmission service prices for the coming period. Non-recurring (one-off) transactions are also eliminated.

     
     

    Attached:
    1. AB Amber Grid condensed interim financial statements as of 31 December 2024.
    2. Press release.

    More information:
    Laura Šebekienė, Head of Communications of Amber Grid,
    Ph. +370 699 61 246, e-mail: l.sebekiene@ambergrid.lt

    Attachments

    The MIL Network –

  • MIL-OSI Security: More than 145 Reports Added to IAEA Incident and Trafficking Database in 2024

    Source: International Atomic Energy Agency – IAEA

    In 2024, 147 incidents of illegal or unauthorized activities involving nuclear and other radioactive material were reported to the Incident and Trafficking Database (ITDB), a number aligned with the historical average. The new data released by the International Atomic Energy Agency (IAEA) today underlines the need for continued vigilance and improvement of regulatory oversight for security of nuclear and other radioactive material. 

    Out of 147, three incidents reported in 2024 were likely related to trafficking or malicious use, and there was insufficient information to determine the intent of 21 other incidents. Furthermore, 123 incidents were not connected to trafficking or malicious use but most likely resulted from unauthorized disposal, unauthorized shipment or the discovery of radioactive material.

    In 2024, the number of incidents involving manufactured goods, such as used pipes, contaminated with radioactive material increased. “This indicates the challenge for some countries to prevent the unauthorized disposal of radioactive sources, and at the same time, it confirms the efficiency of the detection infrastructure,” said Elena Buglova, Director of the IAEA’s Division of Nuclear Security.

    All types of nuclear material – including uranium, plutonium and thorium – as well as naturally occurring and artificially produced radioisotopes, and radioactively contaminated material such as scrap metal are included in the ITDB. The ITDB receives information on incidents involving illegal possession, attempted sale and smuggling of nuclear and other radioactive material, as well as unauthorized disposal and the discovery of lost radioactive sources. A total of 4390 incidents have been reported since 1993. 

    International cooperation for nuclear security

    One of the key functions of the ITDB is to encourage information sharing on relevant nuclear security incidents. Last year’s incidents were reported by 32 of the 145 ITDB participating States.

    “Incident reports submitted by participating countries to the ITDB over the past 30 years have strengthened global efforts to combat illicit trafficking and other unauthorized activities involving nuclear and other radioactive material out of regulatory control,” Buglova said. “Analysing information in the ITDB provides, among others, insights to the types of material involved, nuclear security threats at regional level, as well as trends.”

    In the last decade, about 65 per cent of all thefts reported to the ITDB have occurred during the authorized transport of nuclear and other radioactive material. These materials are typically transported by road, rail, air and waterways for various applications in health, industry and scientific research. “Data from the ITDB highlights the ongoing importance of strengthening transport security measures and overall, the regulatory control for the security of radioactive sources,” Buglova said.

    About the ITDB

    The ITDB fosters global information exchange about incidents that involve nuclear and other radioactive material falling out of regulatory control because they were lost, stolen, improperly disposed of or otherwise neglected. The database also includes reports about material returning under regulatory control through various means, for example, through the detection of orphan radioactive sources in metal recycling facilities. The ITDB data is voluntarily reported, and only participating States and relevant international organizations, such as the International Criminal Police Organization (INTERPOL), the United Nations Office on Drugs and Crime (UNODC) and the World Customs Organization (WCO), can access it.

    The ITDB covers incidents involving nuclear material, radioisotopes and radioactively contaminated material. By reporting lost or stolen material to the ITDB, countries increase the chances of its recovery and reduce the opportunities for it to be used in criminal activities. States can also report scams or hoaxes where the material is purported to be nuclear or otherwise radioactive.

    States wishing to join the ITDB need to submit the request to the IAEA through the official channels (i.e. Permanent Mission, Ministry of Foreign Affairs or a national competent authority for nuclear security matters).

    MIL Security OSI –

  • MIL-OSI: SUNation Energy Announces Initial Closing of Registered Direct Offering Generating Gross Proceeds of $15 Million

    Source: GlobeNewswire (MIL-OSI)

    RONKONKOMA, N.Y., Feb. 28, 2025 (GLOBE NEWSWIRE) — SUNation Energy, Inc. (Nasdaq: SUNE), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, today announced the initial closing of its previously announced securities purchase agreement with certain institutional investors for the purchase and sale of 17,391,306 shares of the Company’s common stock (or common stock equivalents in lieu thereof), Series A warrants to purchase up to an aggregate 17,391,306 shares of the Company’s common stock and Series B warrants to purchase up to an aggregate 17,391,306 shares of the Company’s common stock at an effective purchase price of $1.15 per share (or common stock equivalents in lieu thereof) and associated warrants in a registered direct offering (the “offering”) priced at-the-market under Nasdaq rules.

    The initial closing of the offering generated gross proceeds to the Company of approximately $15 million through the issuance of an aggregate of 13,043,480 shares of common stock (or common stock equivalents) consisting of (i) 1,965,000 shares of common stock (the “Shares”), and (ii) pre-funded warrants to purchase up to 11,078,480 shares of common stock (the “Pre-Funded Warrants”).

    The second closing of the offering is expected to generate gross proceeds of up to $5 million consisting of (iii) 4,347,826 shares of Common Stock (or common stock equivalents), (iv) Series A warrants to purchase up to 17,391,306 shares of common stock, and (v) Series B warrants to purchase up to 17,391,306 shares of common stock. The second closing of the offering is expected to occur upon the satisfaction of customary closing conditions, including receipt of approval by the Company’s stockholders in a specially called stockholder meeting to approve the issuance of the series A common stock warrants, series B common stock warrants and the shares of common stock underlying such warrants, in addition to other matters.

    The gross proceeds from the offering, assuming the second closing is consummated, are expected to be approximately $20 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to fund its operations, including for working capital, potential strategic transactions, payment of certain debt obligations and for other general corporate purposes. 

    Roth Capital Partners, LLC is acting as the exclusive placement agent for the registered direct offering.

    The Series A warrants will have an exercise price of $1.725 per share subject to standard adjustments for dividends, splits and similar events; a one-time adjustment on the date of issuance (as described in the warrants), subject to a floor price described therein; and also subject to adjustment upon a Dilutive Issuance (as described in the warrants), subject to a floor price described therein. The Series A warrants will be issued at the second closing and will be exercisable immediately after issuance and have a term of exercise equal to 5 years from the date of issuance.

    The Series B warrants will have an exercise price of $2.875 per share subject to standard adjustments for dividends, splits and similar events; a one-time adjustment on the date of issuance (as described in the warrants), subject to a floor price described therein; and also subject to adjustment upon a Dilutive Issuance (as described in the warrants), subject to a floor price described therein. The Series B warrants will be issued at the second closing and will be exercisable immediately after issuance and have a term of exercise equal to 5 years from the date of issuance. The Series B warrants may also be exercised on an alternative cashless basis pursuant to which the holder may exchange each warrant for 3 shares of common stock.

    The securities in the offering described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-267066) previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on September 2, 2022. The offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, relating to the offering that will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660, by email at rothecm@roth.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    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 

    This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. While the Company believes its plans, intentions, and expectations reflected in those forward-looking statements are reasonable, these plans, intentions, or expectations may not be achieved. For information about the factors that could cause such differences, please refer to the Company’s filings with the Securities and Exchange Commission, including, without limitation, the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent filings. The Company does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.

    Safe Harbor Statement

    Our prospects here at SUNation Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of 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
    +1 (631) 823-7131
    smaskin@sunation.com

    SUNation Energy Investor Relations
    +1 (212) 836-9600
    IR@sunation.com

    The MIL Network –

  • MIL-OSI: The Now Corporation (OTC: NWPN) Announces Launch of New Website: GreenRainEnergy.com

    Source: GlobeNewswire (MIL-OSI)

    PASADENA, Calif., Feb. 28, 2025 (GLOBE NEWSWIRE) — The Now Corporation (OTC: NWPN) is pleased to announce the launch of its new official website, www.GreenRainEnergy.com. This platform will serve as the primary source for all corporate updates, project developments, and official filings.

    GreenRainEnergy.com will provide shareholders, investors, and the public with real-time access to The Now Corporation’s latest initiatives, including its focus on renewable energy through Green Rain Solar Inc. and other key subsidiaries. The website will also feature direct links to all official social media channels, ensuring streamlined communication and easy access to company announcements.

    “The launch of GreenRainEnergy.com reflects our commitment to transparency and engagement with our stakeholders,” said Alfredo Papadakis, CEO of The Now Corporation. “This website will be the central hub for corporate disclosures, project updates, regulatory filings, and social media connections.”

    For more information, please visit www.GreenRainEnergy.com.

    About The Now Corporation:
    The Now Corporation (OTC: NWPN) is committed to advancing clean energy solutions through its subsidiary, Green Rain Solar Inc. Green Rain Solar focuses on urban rooftop solar installations and grid-connected power solutions, targeting markets with high energy costs. By combining state-of-the-art solar and battery technologies, The Now Corporation is dedicated to driving innovation and sustainability in renewable energy sector.

    Legal Notice Regarding Forward-Looking Statements:
    This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward- looking in nature and subject to risks and uncertainties. This includes the possibility that the business outlined in this press release may not be concluded due to unforeseen technical, installation, permitting, or other challenges. Such forward-looking statements involve risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of The Now Corporation to differ materially from those expressed herein. Except as required under U.S. federal securities laws, The Now Corporation undertakes no obligation to publicly update any forward-looking statements as a result of new information, future events, or otherwise.

    For press inquiries, please contact:
    Michael Cimino
    Michael@pubcopr.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13cff741-da70-4e9a-8a2d-3309c8b0f79f

    The MIL Network –

  • MIL-OSI: Hallador Energy Company Schedules Fourth Quarter & Full Year 2024 Conference Call for March 17, 2025 at 5:30 p.m. ET

    Source: GlobeNewswire (MIL-OSI)

    TERRE HAUTE, Ind., Feb. 28, 2025 (GLOBE NEWSWIRE) — Hallador Energy Company (Nasdaq: HNRG) (“Hallador” or the “Company”), will host a conference call on Monday, March 17, 2025, at 5:30 p.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2024. The Company’s results will be reported in a press release prior to the call.

    Hallador’s management will host the conference call, followed by a question-and-answer period. Interested parties may submit questions prior to the call by emailing the Company’s investor relations team, Elevate IR, at HNRG@elevate-ir.com.

    Date: Monday, March 17, 2025
    Time: 5:30 p.m. Eastern time
    Dial-in registration link: here
    Live webcast registration link: here

    The conference call will also be broadcast live and available for replay in the investor relations section of the Company’s website at www.halladorenergy.com.

    About Hallador Energy Company

    Hallador Energy Company (Nasdaq: HNRG) is a vertically-integrated Independent Power Producer (IPP) based in Terre Haute, Indiana. The Company has two core businesses: Hallador Power Company, LLC, which produces electricity and capacity at its one-Gigawatt (GW) Merom Generating Station, and Sunrise Coal, LLC, which produces and supplies fuel to the Merom Generating Station and other companies. To learn more about Hallador, visit the Company’s website at www.halladorenergy.com.

    Company Contact

    Marjorie Hargrave
    Chief Financial Officer
    (303) 917-0777
    MHargrave@halladorenergy.com

    Investor Relations Contact

    Sean Mansouri, CFA
    Elevate IR
    (720) 330-2829
    HNRG@elevate-ir.com

    The MIL Network –

  • MIL-OSI Canada: Climate Change Funding for Seafood Companies; Another Call for Applications

    Source: Government of Canada regional news

    NOTE: The list of funding recipients and projects follows this release.

    Fourteen seafood companies and related organizations across the province are receiving funding to help reduce their carbon footprint.

    The projects, supported through the Fisheries and Aquaculture Energy Efficiency Innovation Fund, range from the first zero-emission electric lobster boat in Canada to solar power at lobster and bait facilities.

    “Addressing climate change continues to be a priority for our government,” said Kent Smith, Minister of Fisheries and Aquaculture. “Funding for these seafood organizations will help support our efforts to respond to climate change, reducing fossil fuel use and greenhouse gas emissions, as well as reduce costs for industry.”

    The fund is a $6.5-million, three-year program that supports new projects that reduce greenhouse gas emissions produced by boats, buildings and other commercial fisheries and aquaculture operations.

    The Province is now accepting applications for the fund’s second round. Examples of eligible projects include:

    • adapting emerging electric and hybrid technology for fishing vessels and fleets
    • installing renewable energy systems
    • reducing emissions through equipment upgrades and new technology
    • conducting research to enable future emission-reduction projects.

    The deadline for applications is April 11.

    Quotes:

    “The fisheries and aquaculture industry plays a vital role in Nova Scotia, generating significant economic benefits and employment opportunities across the province. Energy efficiency improves these economic benefits through cost reductions, helping organizations enhance long-term productivity and competitiveness. When organizations invest in energy efficiency, they can improve equipment lifespans, increase operational resilience and solidify their position as a global leader in the industry.”
    — Stephen MacDonald, President and CEO, EfficiencyOne

    “This fund represents a direct investment into members of the Nova Scotia Seafood Alliance and the seafood sector to reduce their bottom line by increasing efficiency, mitigating greenhouse gas emissions and reducing the biggest costs they have for operation – energy. At the same time, the reputational benefits of moving the industry to a low-emission model will elevate Nova Scotia seafood products above their competitors on the shelves in premium markets worldwide. This is a win-win for everyone involved.”
    — Kris Vascotto, Executive Director, Nova Scotia Seafood Alliance

    “The Province’s support to build and demonstrate the first all-electric lobster boat is an important step in developing Membertou’s sustainable fishery for future generations. The electric boat will play an important role in building trust in battery-electric propulsion as a viable solution for decarbonizing Canada’s commercial fishery.”
    — Chief Terry Paul, CEO, Membertou

    Quick Facts:

    • the Nova Scotia Fisheries and Aquaculture Loan Board will make available $10 million over three years in dedicated lending to support eligible applicants
    • the fund is a commitment in Our Climate, Our Future: Nova Scotia’s Climate Change Plan for Clean Growth
    • the Department of Energy provided $2 million to the fund

    Additional Resources:

    More information on the Fisheries and Aquaculture Energy Efficiency Innovation Fund is available at: https://www.efficiencyns.ca/business/business-types/agriculture/fisheries-and-aquaculture-energy-efficiency-innovation-fund/

    Fisheries and Aquaculture Loan Board lending program: https://nsfishloan.ca/energy-efficiency

    Our Climate, Our Future: Nova Scotia’s Climate Change Plan for Clean Growth: https://climatechange.novascotia.ca/sites/default/files/uploads/ns-climate-change-plan.pdf

    Approved projects:

    • Bill and Stanley Oyster Company Ltd. – $250,000 to implement an electric work boat and electric forklift at a shellfish farm
    • BMC Seafoods Limited – $100,000 to implement an energy-efficient heat exchanger that will reduce electricity costs at a live lobster holding facility
    • Brazil Rock Lobster Association – $100,000 to install solar and wind-power on 18-member lobster vessels
    • Glas Ocean Electric – $198,225 towards a data logging study on five harbours/wharves which will involve 20 vessels
    • Havre Boucher Seafoods Inc. – $250,000 to implement a fully electric aluminum work boat with vessel-to-grid charging capability at a shellfish farm
    • Ignite (Atlantic) – $150,000 toward a study to develop a marine electrification roadmap for the communities of Digby and Sheet Harbour
    • L. Walker Seafoods – $30,000 toward an energy efficient condenser with floating head pressure control at a live lobster holding facility
    • Little Harbour Fisheries – $9,848 to install solar panels and convert energy usage to a renewable source at a bait storage facility
    • Membertou Fisheries Inc. – $250,000 toward the first zero-emission electric lobster fishing boat in Canada
    • NovaShell Fisheries – $70,000 toward an energy-efficient heat exchanger with floating head pressure control at a new live lobster holding facility
    • R. Baker Fisheries Limited – $86,500 to install advanced refrigeration units that will reduce energy consumption at a seafood processing facility
    • Red Fish Blue Fish Incorporated – $14,871 to install a solar photovoltaic system with battery storage at a commercial bait storage facility
    • Strait of Canso Superport Corporation – $250,000 toward a charging station for electric vessels
    • Yarmouth Bar Fisheries – $50,000 toward solar installation that will result in a net-zero seafood processing/live holding facility
    Other than cropping, Province of Nova Scotia photos are not to be altered in any way

    MIL OSI Canada News –

  • MIL-OSI: Boralex reports net earnings of $74 million for fiscal 2024 and continues construction of its large-scale projects in Québec, Ontario and the United Kingdom

    Source: GlobeNewswire (MIL-OSI)

    MONTREAL, Feb. 28, 2025 (GLOBE NEWSWIRE) — Boralex Inc. (“Boralex” or the “Corporation”) (TSX: BLX) is pleased to report its results for the three-month period and year ended December 31, 2024.

    Highlights
    Financial results

    • EBITDA(A)1, operating income and net earnings under pressure in Q4-2024 owing to adverse wind and hydropower conditions
      • Production 16% (11% on a Combined1 basis)2 lower than in Q4-2023 and 16% (12%) below anticipated production1, due primarily to the adverse climate conditions. For fiscal 2024 overall, production was 5% (2%) lower than in 2023 and 10% (8%) below anticipated production.
      • EBITDA(A) of $169 million ($191 million) for Q4-2024, down $33 million ($38 million) from Q4-2023. For fiscal 2024, EBITDA(A) was $581 million ($670 million), up $3 million (down $5 million) from 2023. The decrease in production was partly offset by the contribution of newly commissioned sites in France and the positive impact of the electricity selling price optimization strategy.
      • Operating income of $78 million ($53 million) for Q4-2024, down $20 million ($66 million) from Q4-2023. For fiscal 2024, operating income totalled $226 million ($267 million), unchanged (down $39 million) from 2023.
      • Net loss of $2 million in Q4-2024, down $60 million from T4-2023. For fiscal 2024, net earnings amounted to $74 million, $41 million lower than in 2023. Excluding the impairment of an asset, net earnings would have been $6 million higher in fiscal 2024 compared to fiscal 2023.
    • Lower cash flow related to operating activities for the quarter but balance sheet remains strong
      • Net cash flows related to operating activities of $31 million for Q4-2024 and $215 million for fiscal 2024, compared to $107 million for Q4-2023 and $496 million for fiscal 2023.
      • Discretionary cash flows1 of $47 million for Q4-2024 and $158 million for fiscal 2024, down $44 million from Q4-2023 and $26 million from fiscal 2023.
      • Boralex has $592 million in cash and cash equivalents and $523 million in available cash resources and authorized financing1 as at December 31, 2024.
      • A record of nearly $1.2 billion in project financing, bridge financing and letter of credit facilities obtained in 2024.

    Update on development and construction activities

    • Portfolio of projects under development and growth path totalling 8,005 MW in the high growth potential markets of Canada, the United States, the United Kingdom and France, 1,227 MW or 18% higher than in 2023
    • Progress in under-construction and ready-to-build projects
      • Start of electrification of the Limekiln wind farm in the United Kingdom (106 MW) in February 2025, with full commissioning planned for early April, and work continues on the Apuiat wind farm in Quebec (total 200 MW, Boralex’s share 100 MW), with commissioning planned for the first half of 2025.
      • Construction of the Hagersville (300 MW) and Tilbury (80 MW) storage projects in Ontario progressing on schedule, with commissioning planned for the fourth quarter of 2025. Financings closed in December 2024.
      • Start of work on the Des Neiges Sud wind project in Quebec (total 400 MW, Boralex’s share 133 MW), with commissioning scheduled for 2026.
    • Acquisition of the Clashindarroch Wind Farm Extension project in the United Kingdom, with an installed capacity of 145 MW, and the adjacent battery energy storage system (BESS) with a maximum capacity of 50 MW, for a total capacity of 195 MW. Boralex has a 50% interest, but has control over the project and will fully consolidate the results in the financial statements.
    1 EBITDA(A) is a total of segment measures. Anticipated production is an additional financial measure. “Combined,” “discretionary cash flows” and “available cash resources and authorized financing” are non-GAAP financial measures and do not have a standardized definition under IFRS. Consequently, these measures may not be comparable to similar measures used by other companies. For more details, see the Non-IFRS financial measures and other financial measures section of this press release.
    2 Figures in brackets indicate results on a Combined basis as opposed to a Consolidated basis.
       

    “The year 2024 proved to be full of challenges, which our employees met head-on. I would highlight in particular the significant effort our team invested in 2024 to secure nearly $1.2 billion in financing, a record for Boralex, on very good terms. Despite high volatility in the financial markets and pressure on the stock prices of renewable energy companies, notably in the wake of the American elections, we are convinced that renewable energy development will continue in many regions. Strong growth in electricity demand is expected in the regions where we are developing wind and solar farms and battery storage systems, namely Canada, the United Kingdom, the United States and France,” said Patrick Decostre, President and Chief Executive Officer of Boralex.

    Renewable energy, which is the most competitive type of energy, can be brought on line to meet demand much faster than other types of energy. Boralex is in a position to capitalize on its project pipeline and growth path, which now represent more than 8 GW of power, and will continue to develop key projects with rates of return in line with its targets.

    “Boralex saw its financial results decline in fiscal 2024, mainly as a result of adverse wind conditions in France and to a lesser extent in Canada, as well as impairment of an asset. During the year, we continued to implement our various initiatives aimed at optimizing administrative, financial and development costs. We ended our 2024 financial year with net earnings of $74 million, a strong balance sheet and good financial flexibility, with over $500 million in available cash resources and authorized financing,” Mr. Decostre added.

    Boralex continues to excel on the corporate social responsibility front. In 2024, the Corporation announced that it was one of the few in the industry to have had its greenhouse gas emission reduction targets validated by the Science Based Targets initiative (SBTi). This recognition shows Boralex’s commitment to achieving net zero emissions by 2050. In addition, Boralex ranked 94th out of the 215 S&P/TSX Composite Index companies and trusts analysed as part of The Board Games, with a score of 80/100, while in 2023 it was 102nd with a score of 76. Finally, Boralex placed 15th in the ranking of Canada’s 50 best corporate citizens, out of the 340 leading Canadian organizations analysed.

    4th quarter highlights

    Three-month periods ended December 31

      Consolidated Combined
    (in millions of Canadian dollars, unless otherwise specified)   2024     2023 Change   2024     2023 Change
            $   %           $   %  
    Power production (GWh)1   1,520     1,814   (294 ) (16 )   2,099     2,351   (252 ) (11 )
    Revenues from energy sales and feed-in premium   228     315   (87 ) (28 )   258     345   (87 ) (25 )
    Operating income   78     98   (20 ) (21 )   53     119   (66 ) (55 )
    EBITDA(A)   169     202   (33 ) (17 )   191     229   (38 ) (17 )
    Net earnings (loss)   (2 )   58   (60 ) >(100 )    (2 )   58   (60 ) >(100 )
    Net earnings (loss) attributable to shareholders of Boralex   (16 )   37   (53 ) >(100 )    (16 )   37   (53 ) >(100 )
    Per share – basic and diluted   ($0.15 ) $0.36   ($0.51 ) >(100 )    ($0.15 ) $0.36   ($0.51 ) >(100 )
    Net cash flows related to operating activities   31     107   (76 ) (71 )   —     —   —   —  
    Cash flows from operations2   105     161   (56 ) (35 )   —     —   —   —  
    Discretionary cash flows   47     91   (44 ) (48 )   —     —   —   —  
                                             

    In the fourth quarter of 2024, Boralex produced 1,520 GWh (2,099 GWh) of power, 16% (11%) less than the 1,814 GWh (2,351 GWh) produced in the same quarter of 2023. The decrease was mainly attributable to adverse weather conditions. As a result, Boralex ended the quarter with total production that was 16% (12%) below anticipated production.

    Revenues from energy sales and feed-in premiums for the three-month period ended December 31, 2024, amounted to $228 million ($258 million), 28% (25%) lower than in the fourth quarter of 2023. The decrease was mainly attributable to the lower production. EBITDA(A) amounted to $169 million ($191 million), down 17% (17%) from the fourth quarter of 2023. The decline in production was partly offset by the contribution of new assets commissioned in France and the positive impact of the electricity selling price optimization strategy. Operating income totalled $78 million ($53 million), compared to $98 million ($119 million) for the same quarter of 2023. The Company posted a net loss of $2 million, which represents a $60 million decrease from the $58 million in net earnings reported for the fourth quarter of 2023.

    1 Power production includes the production for which Boralex received financial compensation following power generation limitations as management uses this measure to evaluate the Corporation’s performance. This adjustment facilitates the correlation between power production and revenues from energy sales and feed-in premium.
    2 The cash flows from operations is a non-GAAP financial measure and does not have a standardized meaning under IFRS. Accordingly, it may not be comparable to similarly named measures used by other companies. For more details, see the Non-IFRS and other financial measures section of this press release.
       

    Years ended December 31

      Consolidated Combined

    (in millions of Canadian dollars, unless otherwise specified)

    		   2024   2023 Change   2024   2023 Change
            $   %           $   %  
    Power production (GWh)1   5,691   5,973   (282 ) (5 )   7,845   8,020   (175 ) (2 )
    Revenues from energy sales and feed-in premium   817   994   (177 ) (18 )   933   1,104   (171 ) (15 )
    Operating income   226   226   —   —     267   306   (39 ) (12 )
    EBITDA(A)   581   578   3   —     670   675   (5 ) (1 )
    Net earnings   74   115   (41 ) (35 )   74   115   (41 ) (35 )
    Net earnings attributable to shareholders of Boralex   36   78   (42 ) (54 )   36   78   (42 ) (54 )
    Per share – basic and diluted $0.35 $0.76 ($0.41 ) (54 ) $0.35 $0.76 ($0.41 ) (54 )
    Net cash flows related to operating activities   215   496   (281 ) (57 )   —   —   —   —  
    Cash flows from operations   415   445   (30 ) (7 )   —   —   —   —  
    Discretionary cash flows   158   184   (26 ) (14 )   —   —   —   —  
      As at
    Dec. 31    		 As at
    Dec. 31    		 Change As at
    Dec. 31    		 As at
    Dec. 31    		 Change
            $   %           $   %  
    Total assets   7,604   6,574   1,030   16     8,476   7,304   1,172   16  
    Debt – principal balance   4,032   3,327   705   21     4,588   3,764   824   22  
    Total project debt   3,608   2,844   764   27     4,166   3,281   885   27  
    Total corporate debt   424   483   (59 ) (12 )   424   483   (59 ) (12 )
                                         

    For the year ended December 31, 2024, Boralex produced 5,691 GWh (7,845 GWh) of power, less than the 5,973 GWh (8,020 GWh) produced during the same period in 2023. Revenues from energy sales and feed-in premiums for the financial year ended December 31, 2024, amounted to $817 million ($933 million), down $177 million ($171 million) or 18% (15%) from the same period in 2023.

    EBITDA(A) amounted to $581 million ($670 million), up $3 million (down $5 million) from the same period last year. Operating income totalled $226 million ($267 million), essentially unchanged (down $39 million) from the same period in 2023. Overall, Boralex posted net earnings of $74 million ($74 million) for the financial year ended December 31, 2024, compared to $115 million ($115 million) for fiscal 2023.

    1 Power production includes the production for which Boralex received financial compensation following power generation limitations imposed by its customers since management uses this measure to evaluate the Corporation’s performance. This adjustment facilitates the correlation between power production and revenues from energy sales and feed-in premiums.
       

    Outlook

    Boralex’s 2025 Strategic Plan is built around the same four strategic directions as the plan launched in 2019 – growth, diversification, customers and optimization – and six corporate targets. The details of the plan, which also sets out Boralex’s corporate social responsibility strategy, are found in the Corporation’s annual report. Highlights of the main achievements for the 2024 financial year in relation to the 2025 Strategic Plan can be found in the 2024 Annual Report, in the Investors section of the Boralex website.

    In the coming quarters, Boralex will continue to work on its various initiatives under the strategic plan, including project development, analysis of acquisition targets and optimization of power sales and operating costs. The Corporation will present a new plan for the period to 2030 during the course of 2025.

    Finally, to fuel its organic growth, the Corporation has a portfolio of projects under development and growth path based on clearly identified criteria, totalling more than 8 GW of wind, solar and energy storage projects.

    About Boralex

    At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to over 3.1 GW. We are developing a portfolio of projects in development and construction of more than 8 GW in wind, solar and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

    For more information, visit www.boralex.com or www.sedarplus.ca. Follow us on Facebook and LinkedIn.

    Non-IFRS measures
    Performance measures

    In order to assess the performance of its assets and reporting segments, Boralex uses performance measures. Management believes that these measures are widely accepted financial indicators used by investors to assess the operational performance of a company and its ability to generate cash through operations. The non-IFRS and other financial measures also provide investors with insight into the Corporation’s decision making as the Corporation uses these non-IFRS financial measures to make financial, strategic and operating decisions. The non-IFRS and other financial measures should not be considered as substitutes for IFRS measures.

    These non-IFRS and other financial measures are derived primarily from the audited consolidated financial statements, but do not have a standardized meaning under IFRS; accordingly, they may not be comparable to similarly named measures used by other companies. Non-IFRS and other financial measures are not audited. They have important limitations as analytical tools and investors are cautioned not to consider them in isolation or place undue reliance on ratios or percentages calculated using these non-IFRS financial measures.

    Non-IFRS financial measures
    Specific financial
    measure    		 Use Composition Most directly
    comparable IFRS
    measure
    Financial data – Combined (all disclosed financial data) To assess the operating performance and the ability of a company to generate cash from its operations and investments in joint ventures and associates. Results from the combination of the financial information of Boralex Inc. under IFRS and the share of the financial information of the Interests.

    Interests in the Joint Ventures and associates, Share in earnings (losses) of the Joint Ventures and associates and Distributions received from the Joint Ventures and associates are then replaced with Boralex’s respective share in the financial statements of the Interests (revenues, expenses, assets, liabilities, etc.)

    		 Respective financial data – Consolidated
    Discretionary cash flows To assess the cash generated from operations and the amount available for future development or to be paid as dividends to common shareholders while preserving the long-term value of the business.

    Corporate objectives for 2025 from the strategic plan.

    		 Net cash flows related to operating activities before “change in non-cash items related to operating activities,” less
    (i) distributions paid to non-controlling shareholders;
    (ii) additions to property, plant and equipment (maintenance of operations);
    (iii) repayments on non-current debt (projects) and repayments to tax equity investors;
    (iv) principal payments related to lease liabilities;
    (v) adjustments for non-operational items; plus
    (vi) development costs (from the statement of earnings).    		 Net cash flows related to operating activities
    Cash flows from operations To assess the cash generated by the Company’s operations and its ability to finance its expansion from these funds. Net cash flows related to operating activities before changes in non-cash items related to operating activities. Net cash flows related to operating activities
    Non-IFRS financial measures
    Specific financial
    measure    		 Use Composition Most directly
    comparable IFRS
    measure
    Available cash and cash equivalents To assess the cash and cash equivalents available, as at balance sheet date, to fund the Corporation’s growth. Represents cash and cash equivalents, as stated on the balance sheet, from which known short-term cash requirements are excluded. Cash and cash equivalents
    Available cash resources and authorized financing To assess the total cash resources available, as at balance sheet date, to fund the Corporation’s growth. Results from the combination of credit facilities available to fund growth and the available cash and cash equivalents. Cash and cash equivalents
    Other financial measures – Total of segments measure
    Specific financial measure Most directly comparable IFRS measure
    EBITDA(A) Operating income
    Other financial measures – Supplementary Financial Measures
    Specific financial measure Composition
    Credit facilities available for growth The credit facilities available for growth include the unused tranche of the parent company’s credit facility, apart from the accordion clause, as well as the unused tranche credit facilities of subsidiaries which includes the unused tranche of the credit facility- France and the unused tranche of the construction facility.
    Anticipated production For older sites, anticipated production by the Corporation is based on adjusted historical averages, planned commissioning and shutdowns and, for all other sites, on the production studies carried out.
       

    Combined

    The following tables reconcile Consolidated financial data with data presented on a Combined basis:

        2024     2023  
    (in millions of Canadian dollars) Consolidated   Reconciliation(1)   Combined   Consolidated  Reconciliation(1) Combined  
    Three-month periods ended December 31:              
    Power production (GWh)(2) 1,520   579   2,099   1,814 537 2,351  
    Revenues from energy sales and feed-in premium 228   30   258   315 30 345  
    Operating income 78   (25 ) 53   98 21 119  
    EBITDA(A) 169   22   191   202 27 229  
    Net earnings (loss) (2 ) —   (2 ) 58 — 58  
    Years ended December 31:                    
    Power production (GWh)(2) 5,691   2,154   7,845   5,973 2,047 8,020  
    Revenues from energy sales and feed-in premiums 817   116   933   994 110 1,104  
    Operating income 226   41   267   226 80 306  
    EBITDA(A) 581   89   670   578 97 675  
    Net earnings 74   —   74   115 — 115  
      As at December 31, 2024
    		   As at December 31, 2023
    		  
    Total assets 7,604   872   8,476   6,574 730 7,304  
    Debt – Principal balance 4,032   556   4,588   3,327 437 3,764  
    (1) Includes the respective contribution of joint ventures and associates as a percentage of Boralex’s interest less adjustments to reverse recognition of these interests under IFRS. This contribution is attributable to the North America segment’s wind farms and includes corporate expenses of $2 million under EBITDA(A) for the year ended December 31, 2024 ($2 million as at December 31, 2023). 
    (2) Includes compensation following electricity production limitations.
       

    EBITDA(A)

    EBITDA(A) is a total of segment financial measures and represents earnings before interest, taxes, depreciation and amortization, adjusted to exclude other items such as acquisition and integration costs, other losses (gains), net loss (gain) on financial instruments and foreign exchange loss (gain), with the last two items included under Other.

    EBITDA(A) is used to assess the performance of the Corporation’s reporting segments.

    EBITDA(A) is reconciled to the most comparable IFRS measure, namely, operating income, in the following table:

      2024       2023   Change 2024 vs 2023
    (in millions of Canadian dollars) Consolidated Reconciliation(1) Combined Consolidated Reconciliation(1) Combined Consolidated   Combined
    		  
    Three-month periods ended December 31:            
    EBITDA(A) 169   22   191   202   27   229   (33 ) (38 )
    Amortization (73 ) (15 ) (88 ) (75 ) (14 ) (89 ) 2   1  
    Impairment —   (47 ) (47 ) (20 ) (1 ) (21 ) 20   (26 )
    Other gains (losses) (3 ) —   (3 ) 1   (1 ) —   (4 ) (3 )
    Share in earnings of joint ventures and associates (3 ) 3   —   (17 ) 17   —   14   —  
    Change in fair value of a derivative included in the share in earnings of a joint venture —   —   —   7   (7 ) —   (7 ) —  
    Impairment included in the share in earnings of a joint venture (12 ) 12   —   —   —   —   (12 ) —  
    Operating income 78   (25 ) 53   98   21   119   (20 ) (66 )
                 
    Years ended December 31:            
    EBITDA(A) 581   89   670   578   97   675   3   (5 )
    Amortization (297 ) (59 ) (356 ) (293 ) (58 ) (351 ) (4 ) (5 )
    Impairment (5 ) (47 ) (52 ) (20 ) (1 ) (21 ) 15   (31 )
    Other gains 5   —   5   1   2   3   4   2  
    Share in earnings of joint ventures and associates (46 ) 46   —   (59 ) 59   —   13   —  
    Change in fair value of a derivative included in the share in earnings of a joint venture —   —   —   19   (19 ) —   (19 ) —  
    Impairment included in the share in earnings of a joint venture (12 ) 12   —   —   —   —   (12 ) —  
    Operating income 226   41   267   226   80   306   —   (39 )
    (1) Includes the respective contribution of joint ventures and associates as a percentage of Boralex’s interest less adjustments to reverse recognition of these interests under IFRS.
       

    Cash flow from operations and discretionary cash flows

    The Corporation computes the cash flow from operations and discretionary cash flows as follows:

      Consolidated
      Three-month periods ended Years ended
      December 31 December 31
    (in millions of Canadian dollars) 2024   2023   2024   2023  
    Net cash flows related to operating activities 31   107   215   496  
    Change in non-cash items relating to operating activities 74   54   200   (51 )
    Cash flows from operations 105   161   415   445  
    Repayments on non-current debt (projects)(1) (53 ) (50 ) (240 ) (232 )
    Adjustment for non-operating items(2) 5   2   7   6  
      57   113   182   219  
    Principal payments related to lease liabilities(3) (6 ) (4 ) (19 ) (17 )
    Distributions paid to non-controlling shareholders(4) (17 ) (33 ) (52 ) (57 )
    Additions to property, plant and equipment (maintenance of operations)(5) (3 ) 2   (10 ) (6 )
    Development costs (from statement of earnings)(6) 16   13   57   45  
    Discretionary cash flows 47   91   158   184  
    (1) Includes repayments on non-current debt (projects) and repayments to tax equity investors, and excludes VAT bridge financing, early debt repayments and repayments under the construction facility – Boralex Energy Investments portfolio and the CDPQ Fixed Income Inc. term loan.
    (2) For the years ended December 31, 2024 and December 31, 2023, favourable adjustment consisting mainly of acquisition, integration and other non-operating miscellaneous items.
    (3) Excludes the principal payments related to lease liabilities for projects under development and construction.
    (4) Comprises distributions paid to non-controlling shareholders as well as the portion of discretionary cash flows attributable to the non-controlling shareholder of Boralex Europe Sàrl.
    (5) Excludes the additions to the property, plant and equipment of regulated assets (treated as assets under construction since they are regulated assets for which investments in the plant are considered in the setting of its electricity selling price). During the fourth quarter of 2023, an amount of $4 million was reclassified as new property, plant, and equipment under construction.
    (6) During Q1-2024, the Corporation reclassified the employee benefits for 2023 and 2024 related to its incentive plans, which were reported in full under Operating expenses in the consolidated statements of earnings. To better allocate these expenses to the Corporation’s various functions and thus provide more relevant information to users of the financial statements, the Corporation is now allocating these costs to Operating, Administrative and Development expenses in the consolidated statements of earnings according to the breakdown of staff. This change resulted in a $1 million increase in development costs for the three-month period ended December 31, 2023 and $5 million increase for the year ended December 31, 2023.
       

    Available cash and cash equivalents and available cash resources and authorized financing

    The Corporation defines available cash and cash equivalents as well as available cash resources and authorized financing as follows:

      Consolidated
      As at December 31   As at December 31  
    (in millions of Canadian dollars) 2024   2023  
    Cash and cash equivalents 592   478  
    Cash and cash equivalents held by entities subject to project debt agreement and restrictions(1) (526 ) (388 )
    Bank overdraft (5 ) (6 )
    Available cash and cash equivalents 61   84  
    Credit facilities available for growth 462   463  
    Available cash resources and authorized financing 523   547  
    (1) This cash can be used for the operations of the respective projects, but is subject to restrictions for non-project related purposes under the credit agreements.
       

    Disclaimer regarding forward-looking statements

    Certain statements contained in this release, including those related to results and performance for future periods, installed capacity targets, EBITDA(A) and discretionary cash flows, the Corporation’s strategic plan, business model and growth strategy, organic growth and growth through mergers and acquisitions, obtaining an investment grade credit rating, payment of a quarterly dividend, the Corporation’s financial targets, the projects commissioning dates, the portfolio of renewable energy projects, the Corporation’s Growth Path, the bids for new storage and solar projects and its Corporate Social Responsibility (CSR) objectives are forward-looking statements based on current forecasts, as defined by securities legislation. Positive or negative verbs such as “will,” “would,” “forecast,” “anticipate,” “expect,” “plan,” “project,” “continue,” “intend,” “assess,” “estimate” or “believe,” or expressions such as “toward,” “about,” “approximately,” “to be of the opinion,” “potential” or similar words or the negative thereof or other comparable terminology, are used to identify such statements.

    Forward-looking statements are based on major assumptions, including those about the Corporation’s return on its projects, as projected by management with respect to wind and other factors, opportunities that may be available in the various sectors targeted for growth or diversification, assumptions made about EBITDA(A) margins, assumptions made about the sector realities and general economic conditions, competition, exchange rates as well as the availability of funding and partners. While the Corporation considers these factors and assumptions to be reasonable, based on the information currently available to the Corporation, they may prove to be inaccurate.

    Boralex wishes to clarify that, by their very nature, forward-looking statements involve risks and uncertainties, and that its results, or the measures it adopts, could be significantly different from those indicated or underlying those statements, or could affect the degree to which a given forward-looking statement is achieved. The main factors that may result in any significant discrepancy between the Corporation’s actual results and the forward-looking financial information or expectations expressed in forward-looking statements include the general impact of economic conditions, fluctuations in various currencies, fluctuations in energy prices, the risk of not renewing PPAs or being unable to sign new corporate PPA, the risk of not being able to capture the US or Canadian investment tax credit, counterparty risk, the Corporation’s financing capacity, cybersecurity risks, competition, changes in general market conditions, industry regulations and amendments thereto, particularly the legislation, regulations and emergency measures that could be implemented for time to time to address high energy prices in Europe, litigation and other regulatory issues related to projects in operation or under development, as well as certain other factors considered in the sections dealing with risk factors and uncertainties appearing in Boralex’s MD&A for the fiscal year ended December 31, 2024.

    Unless otherwise specified by the Corporation, forward-looking statements do not take into account the effect that transactions, non-recurring items or other exceptional items announced or occurring after such statements have been made may have on the Corporation’s activities. There is no guarantee that the results, performance or accomplishments, as expressed or implied in the forward-looking statements, will materialize. Readers are therefore urged not to rely unduly on these forward-looking statements.

    Unless required by applicable securities legislation, Boralex’s management assumes no obligation to update or revise forward- looking statements in light of new information, future events or other changes.

    For more information:

    The MIL Network –

  • MIL-OSI Asia-Pac: English Translation of Opening Address by Prime Minister Shri Narendra Modi at the Plenary Session with the President of the European Commission (February 28, 2025)

    Source: Government of India

    Posted On: 28 FEB 2025 5:39PM by PIB Delhi

    Your Excellencies,

    I warmly welcome you all to India. The engagement of the EU College of Commissioners with a single country on such a broad scale is unprecedented.

    It’s the first time that so many of my ministers have collected together for any bilateral discussions. I remember how you said that India and the EU are natural partners at the Raisina Dialogue in 2022. And that strengthening and energizing ties with India, will be a priority for the EU in the coming decade.

    And now, you’re visiting India at the very beginning of your new term.This is a milestone moment for India and the EU.

    Excellencies,

    The world is currently undergoing unprecedented change. AI and emerging technologies are leading to socio-economic transformations.

    Geo-economic and political circumstances are rapidly evolving. And old equations are breaking down. In times like these, the partnership between India and the EU becomes even more important.

    A shared belief in democratic values, strategic autonomy, and rule-based global order unite India and the EU.Both countries are mega diverse market economies. In a sense, we are natural strategic partners.

    Excellencies,

    India and the EU have completed twenty years of strategic partnership. And with your visit, we are laying the foundation for the next decade.

    In this context, the remarkable commitment shown by both parties is commendable. About twenty ministerial level meetings have taken place in the last two days.

    The Trade and Technology Council meeting was also successfully organised this morning. Both teams will present a report on the ideas generated and the progress made.

    Excellencies,

    I would like to identify some priority areas of cooperation.

    The first is Trade and Investment. It is crucial to conclude a mutually beneficial FTA and Investment Protection Agreement as soon as possible.

    The second is strengthening the Supply Chain Resilience. Our capabilities can complement each other in sectors such as Electronics, Semiconductors, Telecom, Engineering, Defence, and Pharma.This will strengthen diversification and de-risking, and will aid in the creation of a secure, reliable and trusted supply and value chain.

    The third is Connectivity. The IMEC Corridor launched during the G20 Summit is a transformational initiative. Both the teams must continue working on it with strong commitment.

    The fourth is Technology and Innovation. To realise our shared vision of tech sovereignty, we must continue to make swift progress ahead. In areas such as DPI, AI, Quantum Computing, Space and 6G, both parties must work together to connect our industries, innovators, and young talents.

    The fifth is Climate Action and Green Energy Innovation. India and the EU have prioritised the Green transition. Through cooperation in sustainable urbanization, water, and clean energy, we can become drivers of global green growth.

    The sixth is Defence. We can fulfil each others’ needs through co-development and co-production. We must work to prioritise each other in export control laws.

    The seventh is Security. There is a need for greater cooperation on challenges arising from terrorism, extremism, maritime security, cyber security and space security.

    The eighth is People-to-People Ties. It should be a priority for both parties to make Migration, Mobility, Schengen Visas and EU Blue Cards simple and smooth. This stands to fulfil the needs of the EU. And India’s young workforce shall be able to make an even greater contribution to Europe’s growth and prosperity.

    Excellencies,

    For the next India-EU Summit, we must move forward with ambition, action and commitment.

    In today’s AI era, the future shall belong to those who demonstrate vision and speed.

    Excellency, I now invite you to share your thoughts.

    *****

    MJPS/ST

    (Release ID: 2106997) Visitor Counter : 84

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Federal Emergency Management Agency to Host Public Meeting On Preliminary Observations of the Palo Verde Generating Station Exercise

    Source: US Federal Emergency Management Agency

    Headline: Federal Emergency Management Agency to Host Public Meeting On Preliminary Observations of the Palo Verde Generating Station Exercise

    Federal Emergency Management Agency to Host Public Meeting On Preliminary Observations of the Palo Verde Generating Station Exercise

    OAKLAND, Calif. – The Federal Emergency Management Agency’s (FEMA) Region 9 National Preparedness Division, Technological Hazards Branch announced that a public meeting will be held on March 7, 2025 in Buckeye, Arizona.The public meeting will present FEMA’s and the U.S. Nuclear Regulatory Commission’s (NRC) preliminary evaluation observations on the performance of the state of Arizona, and the county of Maricopa, during a Plume and Post-Plume Phase exercise.The full-scale exercise is conducted at Palo Verde Generating Station (PVGS), and at State and County emergency response facilities.  Federal evaluators observe and evaluate participants’ ability to protect the health and safety of the public living near PVGS should an incident occur.Representatives from FEMA will chair the meeting and present their preliminary observations. Members of the public and the media are invited to attend the meeting. A Certified American Sign Language Interpreter will provide interpretation.  What:  A public meeting in Buckeye, Arizona, where FEMA and the NRC will present preliminary performance observations following a full-scale Plume and Post-Plume exercise at the PVGS in Maricopa County.  Who:  FEMA Region 9 National Preparedness Division,  Technological Hazards Branch  When:  Friday, March 7, 2025, at 1:00 p.m.Where:  Palo Verde Energy Education Center  600 N. Verrado Way, Buckeye, AZ 85326  ###  FEMA’s mission is helping people before, during, and after disasters. Follow FEMA Region 9 online at x/femaregion9. 
    brandi.richard…
    Thu, 02/27/2025 – 21:23

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR JANUARY, 2025

    Source: Government of India (2)

    Posted On: 28 FEB 2025 5:00PM by PIB Delhi

    The combined Index of Eight Core Industries (ICI) increased by 4.6per cent (provisional) in January, 2025 as compared to the Index in January, 2024. The production of Cement, Refinery Products, Coal, Steel, Fertilizers and Electricity recorded positive growth in January, 2025. The details of annual indices, monthly indices and growth rates are provided at Annex I and Annex II.

    The ICI measures the combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

    The final growth rate of Index of Eight Core Industries for October 2024 increased by3.8per cent. The cumulative growth rate of ICI during April to January, 2024-25is4.4 percent (provisional) as compared to the corresponding period of last year.

    The summary of the Index of Eight Core Industries is given below:

    Coal – Coal production (weight: 10.33 per cent) increased by 4.6 per cent in January, 2025 over January, 2024. Its cumulative index increased by 6.0 per cent during April to January, 2024-25 over corresponding period of the previous year.

    Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 1.1 per cent in January, 2025 over January, 2024. Its cumulative index declined by 2.0 per cent during April to January, 2024-25 over corresponding period of the previous year.

    Natural Gas – Natural Gas production (weight: 6.88 per cent) declined by 1.5 per cent in January, 2025 over January, 2024. Its cumulative index increased by 0.5per cent during April to January, 2024-25 over corresponding period of the previous year.

    Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 8.3 per cent in January, 2025 over January, 2024. Its cumulative index increased by 3.3 per cent during April to January, 2024-25 over corresponding period of the previous year.

    Fertilizers – Fertilizer production (weight: 2.63 per cent) increased by 3.0 per cent in January, 2025 over January, 2024. Its cumulative index increased by 1.7 per cent during April to January, 2024-25 over corresponding period of the previous year.

    Steel – Steel production (weight: 17.92 per cent) increased by 3.7 per cent in January, 2025 over January, 2024. Its cumulative index increased by 5.9 per cent during April to January, 2024-25 over corresponding period of the previous year.

    Cement – Cement production (weight: 5.37 per cent) increased by 14.5 per cent in January, 2025 over January, 2024. Its cumulative index increased by 4.6 per cent during April to January, 2024-25 over corresponding period of the previous year.

    Electricity – Electricity generation (weight: 19.85 per cent) increased by 1.3 per cent in January, 2025 over January, 2024. Its cumulative index increased by 5.0 per cent during April to January, 2024-25 over corresponding period of the previous year.

     

    Note 1: Data for November, 2024, December, 2024 and January, 2025are provisional. Index numbers of Core Industries are revised / finalized as per updated data from source agencies.

    Note 2: Since April 2014, Electricity generation data from Renewable sources are also included.

    Note 3: The industry-wise weights indicated above are individual industry weights derived from IIP and blown up on pro rata basis to a combined weight of ICI equal to 100.

    Note 4: Since March 2019, a new steel product called Hot Rolled Pickled and Oiled (HRPO) under the item ‘Cold Rolled (CR) coils’ within the production of finished steel has also been included.

    Note 5: Release of the index for February, 2025 will be on Friday28thMarch, 2025.

    Annex I

    Performance of Eight Core Industries

    Yearly Index & Growth Rate

    Base Year: 2011-12=100

    Index

    Sector

    Coal

    Crude Oil

    Natural Gas

    Refinery Products

    Fertilizers

    Steel

    Cement

    Electricity

    Overall Index

    Weight

    10.33

    8.98

    6.88

    28.04

    2.63

    17.92

    5.37

    19.85

    100.00

    2012-13

    103.2

    99.4

    85.6

    107.2

    96.7

    107.9

    107.5

    104.0

    103.8

    2013-14

    104.2

    99.2

    74.5

    108.6

    98.1

    115.8

    111.5

    110.3

    106.5

    2014-15

    112.6

    98.4

    70.5

    108.8

    99.4

    121.7

    118.1

    126.6

    111.7

    2015-16

    118.0

    97.0

    67.2

    114.1

    106.4

    120.2

    123.5

    133.8

    115.1

    2016-17

    121.8

    94.5

    66.5

    119.7

    106.6

    133.1

    122.0

    141.6

    120.5

    2017-18

    124.9

    93.7

    68.4

    125.2

    106.6

    140.5

    129.7

    149.2

    125.7

    2018-19

    134.1

    89.8

    69.0

    129.1

    107.0

    147.7

    147.0

    156.9

    131.2

    2019-20

    133.6

    84.5

    65.1

    129.4

    109.8

    152.6

    145.7

    158.4

    131.6

    2020-21

    131.1

    80.1

    59.8

    114.9

    111.6

    139.4

    130.0

    157.6

    123.2

    2021-22

    142.3

    77.9

    71.3

    125.1

    112.4

    163.0

    156.9

    170.1

    136.1

    2022-23

    163.5

    76.6

    72.4

    131.2

    125.1

    178.1

    170.6

    185.2

    146.7

    2023-24

    182.7

    77.1

    76.8

    135.9

    129.8

    200.4

    185.7

    198.3

    157.8

    Apr-Jan 2023-24

    172.4

    77.3

    76.8

    135.1

    132.8

    198.3

    181.5

    198.8

    156.1

    Apr-Jan2024-25*

    182.8

    75.7

    77.2

    139.5

    135.1

    209.9

    189.8

    208.8

    162.9

    *Provisional

     

    Growth Rates (on Y-o-Y basis in per cent)

    Sector

    Coal

    Crude Oil

    Natural Gas

    Refinery Products

    Fertilizers

    Steel

    Cement

    Electricity

    Overall Growth

    Weight

    10.33

    8.98

    6.88

    28.04

    2.63

    17.92

    5.37

    19.85

    100.00

    2012-13

    3.2

    -0.6

    -14.4

    7.2

    -3.3

    7.9

    7.5

    4.0

    3.8

    2013-14

    1.0

    -0.2

    -12.9

    1.4

    1.5

    7.3

    3.7

    6.1

    2.6

    2014-15

    8.0

    -0.9

    -5.3

    0.2

    1.3

    5.1

    5.9

    14.8

    4.9

    2015-16

    4.8

    -1.4

    -4.7

    4.9

    7.0

    -1.3

    4.6

    5.7

    3.0

    2016-17

    3.2

    -2.5

    -1.0

    4.9

    0.2

    10.7

    -1.2

    5.8

    4.8

    2017-18

    2.6

    -0.9

    2.9

    4.6

    0.03

    5.6

    6.3

    5.3

    4.3

    2018-19

    7.4

    -4.1

    0.8

    3.1

    0.3

    5.1

    13.3

    5.2

    4.4

    2019-20

    -0.4

    -5.9

    -5.6

    0.2

    2.7

    3.4

    -0.9

    0.9

    0.4

    2020-21

    -1.9

    -5.2

    -8.2

    -11.2

    1.7

    -8.7

    -10.8

    -0.5

    -6.4

    2021-22

    8.5

    -2.6

    19.2

    8.9

    0.7

    16.9

    20.8

    8.0

    10.4

    2022-23

    14.8

    -1.7

    1.6

    4.8

    11.3

    9.3

    8.7

    8.9

    7.8

    2023-24

    11.8

    0.6

    6.1

    3.6

    3.7

    12.5

    8.9

    7.1

    7.6

    Apr-Jan 2023-24

    12.3

    -0.2

    5.6

    3.9

    5.5

    13.5

    8.8

    6.9

    7.8

    Apr-Jan2024-25*

    6.0

    -2.0

    0.5

    3.3

    1.7

    5.9

    4.6

    5.0

    4.4

    *Provisional.

       Y-o-Y is calculated over the corresponding financial year of previous year

     

    Annex II

    Performance of Eight Core Industries

    Monthly Index & Growth Rate

    Base Year: 2011-12=100

    Index

    Sector

    Coal

    Crude Oil

    Natural Gas

    Refinery Products

    Fertilizers

    Steel

    Cement

    Electricity

    Overall Index

    Weight

    10.33

    8.98

    6.88

    28.04

    2.63

    17.92

    5.37

    19.85

    100.00

    Jan-24

    219.6

    78.8

    79.3

    135.9

    135.0

    217.8

    192.2

    197.2

    165.4

    Feb-24

    212.1

    73.5

    74.5

    132.5

    113.3

    202.9

    194.3

    187.2

    157.7

    Mar-24

    256.0

    78.9

    79.3

    147.0

    116.6

    219.8

    219.4

    204.2

    175.0

    Apr-24

    173.3

    76.3

    74.8

    137.9

    117.8

    210.0

    192.3

    212.0

    161.7

    May-24

    184.7

    77.9

    78.7

    141.8

    135.9

    209.7

    190.6

    229.3

    168.2

    Jun-24

    186.4

    74.4

    75.8

    134.1

    134.0

    204.0

    198.5

    222.8

    163.7

    Jul-24

    163.0

    76.6

    78.0

    143.3

    138.8

    205.1

    174.6

    220.2

    162.8

    Aug-24

    138.2

    75.7

    77.4

    134.0

    137.5

    206.6

    177.4

    212.3

    156.3

    Sep-24

    151.8

    72.0

    75.8

    134.1

    134.8

    202.0

    178.8

    206.9

    155.4

    Oct-24

    186.0

    74.6

    79.3

    135.5

    136.9

    212.9

    187.2

    207.8

    162.4

    Nov-24*

    199.6

    73.9

    75.7

    138.4

    136.2

    201.0

    177.6

    184.1

    157.0

    Dec-24*

    215.1

    77.9

    78.1

    149.1

    139.8

    221.7

    200.8

    192.8

    168.9

    Jan-25*

    229.8

    77.9

    78.1

    147.2

    139.0

    225.8

    220.0

    199.8

    173.0

    *Provisional

     

    Growth Rates (on Y-o-Y basis in per cent)

    Sector

    Coal

    Crude Oil

    Natural Gas

    Refinery Products

    Fertilizers

    Steel

    Cement

    Electricity

    Overall Growth

    Weight

    10.33

    8.98

    6.88

    28.04

    2.63

    17.92

    5.37

    19.85

    100.00

    Jan-24

    10.6

    0.6

    5.5

    -4.3

    -0.6

    9.2

    4.1

    5.7

    4.2

    Feb-24

    11.6

    7.9

    11.2

    2.6

    -9.5

    9.4

    7.8

    7.6

    7.1

    Mar-24

    8.7

    2.1

    6.3

    1.6

    -1.3

    7.5

    10.6

    8.6

    6.3

    Apr-24

    7.5

    1.7

    8.6

    3.9

    -0.8

    9.8

    0.2

    10.2

    6.9

    May-24

    10.2

    -1.1

    7.5

    0.5

    -1.7

    8.9

    -0.6

    13.7

    6.9

    Jun-24

    14.8

    -2.6

    3.3

    -1.5

    2.4

    6.3

    1.8

    8.6

    5.0

    Jul-24

    6.8

    -2.9

    -1.3

    6.6

    5.3

    7.0

    5.1

    7.9

    6.3

    Aug-24

    -8.1

    -3.4

    -3.6

    -1.0

    3.2

    4.1

    -2.5

    -3.7

    -1.5

    Sep-24

    2.6

    -3.9

    -1.3

    5.8

    1.9

    1.8

    7.6

    0.5

    2.4

    Oct-24

    7.8

    -4.8

    -1.2

    5.2

    0.4

    5.7

    3.1

    2.0

    3.8

    Nov-24*

    7.5

    -2.1

    -1.9

    2.9

    2.0

    4.4

    13.5

    4.4

    4.4

    Dec-24*

    5.3

    0.6

    -1.8

    2.8

    1.7

    7.3

    4.6

    6.2

    4.8

    Jan-25*

    4.6

    -1.1

    -1.5

    8.3

    3.0

    3.7

    14.5

    1.3

    4.6

    *Provisional.

    Y-o-Y is calculated over the corresponding financial year of previous year

    ***

    Abhishek Dayal/Abhijith Narayanan

    (Release ID: 2106953) Visitor Counter : 83

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: SECOND ADVANCE ESTIMATES OF ANNUAL GROSS DOMESTIC PRODUCT FOR 2024-25, QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF 2024-25 AND FIRST REVISED & FINAL ESTIMATES OF GROSS DOMESTIC PRODUCT, NATIONAL INCOME, CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION FOR 2023-24 & 2022-23 RESPECTIVELY

    Source: Government of India (2)

    SECOND ADVANCE ESTIMATES OF ANNUAL GROSS DOMESTIC PRODUCT FOR 2024-25, QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF 2024-25 AND FIRST REVISED & FINAL ESTIMATES OF GROSS DOMESTIC PRODUCT, NATIONAL INCOME, CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION FOR 2023-24 & 2022-23 RESPECTIVELY

    Real GDP Growth Rate of 9.2% for 2023-24 is the highest in the previous 12 years except for 2021-22

    Growth Rate of Real GDP for 2024-25 is estimated as 6.5%

    Real GDP has observed a Growth Rate of 6.2% in Q3 of FY 2024-25

    Posted On: 28 FEB 2025 4:00PM by PIB Delhi

          The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) is releasing in this Press Note the Second Advance Estimates (SAE) of Annual Gross Domestic Product (GDP) for Financial Year (FY) 2024-25; Quarterly Estimates of GDP for October-December Quarter (Q3) of FY 2024-25 along with its expenditure components and following Revised Estimates of GDP, National Income, Consumption Expenditure, Saving and Capital Formation:

    a.  First Revised Estimates (FRE) for the Financial year 2023-24;

    b.  Second Revised Estimates or Final Estimates (FE) for the Financial year 2022-23.

         These estimates are released both at Constant (2011-12) and Current Prices, in accordance with the release calendar of National Accounts. Detailed Notes on: (i) Second Advance Estimates (SAE) of Annual Gross Domestic Product (GDP) of FY 2024-25, Quarterly Estimates of GDP for October-December Quarter (Q3) of FY 2024-25 and (ii) Abovementioned Revised Estimates for financial years 2023-24 and 2022-23 are given respectively in Part A and Part B of the Press Note.

    Key Highlights:

    1.    Real GDP has been estimated to grow by 6.5% in FY 2024-25. Nominal GDP is expected to witness a growth rate of 9.9% in FY 2024-25. Both the growth rates are revised upward from their respective First Advance Estimates.

    2.    As per the First Revised Estimates, Real GDP has grown by 9.2% in the financial year 2023-24, which is highest in the previous 12 years except for the financial year 2021-22 (the post-covid year). This growth has been contributed by double-digit growth rates in ‘Manufacturing’ sector (12.3%), ‘Construction’ sector (10.4%) and ‘Financial, Real Estate & Professional Services’ sector (10.3%).

    3.    As per the Final Estimates, Real GDP has observed a growth rate of 7.6% in the financial year 2022-23, mainly contributed by double-digit growth rates in ‘Trade, Hotels, Transport, Communication & Services related to Broadcasting’ sector (12.3%), ‘Financial, Real Estate & Professional Services’ sector (10.8%) and ‘Electricity, Gas, Water Supply & Other Utility Services’ sector (10.8%).

    4.    Real GDP is estimated to grow by 6.2% in Q3 of FY 2024-25. Growth rate in Nominal GDP for Q3 of FY 2024-25 has been estimated at 9.9%.

    5.    The growth rate of Real GDP for Q2 of financial year 2024-25 has been revised upward to 5.6%.

    6.    ‘Construction’ sector is estimated to observe a growth rate of 8.6%, followed by ‘Financial, Real Estate & Professional Services’ sector (7.2%) and ‘Trade, Hotels, Transport, Communication & Services related to Broadcasting’ sector (6.4%) during 2024-25.

    7.    Private Final Consumption Expenditure (PFCE) is expected to register a good growth of 7.6% during 2024-25 as compared to 5.6% growth observed during 2023-24.

     

      PART A

    NOTE ON SECOND ADVANCE ESTIMATES OF ANNUAL GROSS DOMESTIC PRODUCT FOR 2024-25 

    QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCT-DEC) OF 2024-25  

             The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) is releasing in this Press Note, the Second Advance Estimates (SAE) of Annual Gross Domestic Product (GDP) for the Financial Year (FY) 2024-25 and Quarterly Estimates of GDP for the Third quarter (October-December) of 2024-25 along with its expenditure components both at Constant (2011-12) and Current Prices. Annual, Quarterly as well as April-December estimates of Gross Value Added (GVA) at Basic Prices by kind of economic activity along with year on year percent changes, expenditure components of GDP and annual estimates of Gross/Net National Income and Per Capita Income for the Financial years 2022-23, 2023-24 and 2024-25 at Constant and Current Prices are given in Statements 1A to 12A of Annexure A.

    I.  Annual Estimates and Growth Rates

              Real GDP or GDP at Constant Prices is estimated to attain a level of ₹187.95 lakh crore in the financial year 2024-25, against the First Revised Estimate of GDP for the year 2023-24 of ₹176.51 lakh crore. The growth rate in Real GDP during 2024-25 is estimated at 6.5% as compared to 9.2% in 2023-24. Nominal GDP or GDP at Current Prices is estimated to attain a level of ₹331.03 lakh crore in the year 2024-25, against ₹301.23 lakh crore in 2023-24, showing a growth rate of 9.9%.

               Real GVA is estimated at ₹171.80 lakh crore in the year 2024-25, against the FRE for the year 2023-24 of ₹161.51 lakh crore, registering a growth rate of 6.4% as compared to 8.6% growth rate in 2023-24. Nominal GVA is estimated to attain a level of ₹300.15 lakh crore during FY 2024-25, against ₹274.13 lakh crore in 2023-24, showing a growth rate of 9.5%

     

    Fig. 1: Annual GDP and GVA Estimates along with Y-o-Y Growth Rates at Constant Prices

     

    Fig. 2: Sectoral Composition and Growth Rates of Annual GVA

    Sectoral Composition of Nominal GVA in FY 2024-25

     

    Fig. 3: Composition and Growth Rates of Annual GVA in Broad Sectors

     

    II. Quarterly Estimates and Growth Rates

               Real GDP or GDP at Constant Prices in Q3 of FY 2024-25 is estimated at ₹47.17 lakh crore, against ₹44.44 lakh crore in Q3 of FY 2023-24, showing a growth rate of 6.2%. Nominal GDP or GDP at Current Prices in Q3 of FY 2024-25 is estimated at ₹84.74 lakh crore, against ₹77.10 lakh crore in Q3 of FY 2023-24, showing a growth rate of 9.9%.

                Real GVA in Q3 of FY 2024-25 is estimated at ₹43.13 lakh crore, against ₹40.60 lakh crore in Q3 of FY 2023-24, showing a growth rate of 6.2%. Nominal GVA in Q3 of FY 2024-25 is estimated at ₹77.06 lakh crore, against ₹69.90 lakh crore in Q3 of FY 2023-24, showing a growth rate of 10.2%.

    Fig. 4: Quarterly GDP and GVA Estimates along with Y-o-Y Growth Rates from Q1 FY 2021-22 to Q3 FY 2024-25 at Constant Prices

     

    Fig. 5: Sectoral Composition and Growth Rates of Quarterly GVA

    Sectoral Composition of Nominal GVA in Q3 of FY 2024-25

     

    Fig. 6: Composition and Growth Rates of Quarterly GVA in Broad Sectors

     

    [Primary Sector: Agriculture, Livestock, Forestry & Fishing and Mining & Quarrying 

    Secondary Sector: Manufacturing, Electricity, Gas, Water supply & Other Utility Services and    Construction

    Tertiary Sector: Trade, Hotels, Transport, Communication and Services related to Broadcasting, Financial, Real Estate & Professional Services and Public Administration, Defence & Other Services]

     

    III. Methodology and Major Data Sources:            

               Second Advance Estimates of Annual GDP and Quarterly Estimates GDP are compiled using the Benchmark-indicator method i.e. the estimates available for the previous financial year (2023-24) are extrapolated using the relevant indicators reflecting the performance of sectors. The First Advance Estimates (FAE) of Annual GDP for the financial year 2024-25 were released on 7th January, 2025, which were based on very limited data and used Provisional Estimates of 2023-24 as Benchmark Estimates. For Compilation of SAE, 2024-25, the Provisional Estimates of 2023-24 used at the time of FAE have been replaced by FRE, 2023-24 which have been compiled using industry-wise/institution-wise detailed information. Thus, overall as well as sectoral variations in SAE from FAE is attributed to revision of benchmark estimates and additional or updated data available on various indicators. The quarterly estimates of previous years along with the First and Second quarter estimates of 2024-25 released earlier have also undergone revision in accordance with the revision policy of National Accounts.

                The sector-wise estimates have been compiled using indicators/data sources like (i) Index of Industrial Production (IIP), (ii) Financial performance of Listed Companies based on available quarterly financial results of these companies upto Q3 FY 2024-25, (iii) Estimates of Major Agricultural Crops and Horticultural crops for 2024-25, as provided by Ministry of Agriculture and Farmers’ Welfare (iv) Production Targets and Summer as well as Rainy season production estimates of Major Livestock Products for FY 2024-25; (v) Fish Production, (vi) Production of Coal, Crude Petroleum, Natural Gas, Cement and Consumption of Steel, (vii) Net Tonne Kilometres and Passenger Kilometres for Railways, (viii) Passenger and Cargo traffic handled by Civil Aviation, (ix) Cargo traffic handled at Major and Minor Sea Ports, (x) Sales of Commercial Vehicles, (xi) Bank Deposits and Credits, (xii) Premium related information of Life and Non-Life Insurance companies, (xiii) Data on outward Supplies of Goods and Services available from GSTN upto January, 2025 (xiv) Accounts of Central and State Governments, (xv) Goods and Services Tax collections etc., available for first 9-10 months of the FY 2024-25. Year-on-Year growth rates (%) in the main indicators used in the estimation are given in the Annexure B.

                Total tax revenue used for GDP compilation includes non-GST revenue as well as GST revenue. The Revised Estimates of Tax revenue for 2024-25 as available in the Annual Financial Statement of the Central Government, along with latest available information from the websites of Controller General of Accounts (CGA) and Comptroller and Auditor General of India (CAG) have been used for estimating taxes on products at Current Prices. For compiling taxes on products at Constant Prices, volume extrapolation is done using volume growth of taxed goods and services. The total product subsidies at Current prices were compiled using the latest information on major subsidies viz. Food, Urea, Petroleum and Nutrient based subsidy for Centre as available on CGA website and the expenditure incurred on subsidies by most States up to December 2024 as available on CAG website along with the Centre/State-wise RE and BE provision for FY 2024-25. Information available on Revenue expenditure, Interest payments, Subsidies etc. from Centre and States for FY 2024-25 were used for estimating Government Final Consumption Expenditure (GFCE).

                Improved data coverage and revision in input data made by source agencies would have a bearing on subsequent revisions of these estimates. Estimates are, therefore, likely to undergo revisions for the aforesaid causes in due course, as per the release calendar. Users should take these into consideration while interpreting the figures. The Provisional Estimates of Annual GDP for FY 2024-25 along with Quarterly GDP estimates for the quarter January-March of FY 2024-25 (Q4 2024-25) will be released on 30.05.2025.

     

    ***********

    Annexure A

     

    Annexure B

     

    PART B

    NOTE ON FIRST REVISED & FINAL ESTIMATES OF GROSS DOMESTIC PRODUCT, NATIONAL INCOME, CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION FOR 2023-24 & 2022-23 RESPECTIVELY

                In this part of the press note, First Revised Estimates of GDP, National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2023-24 and Second Revised/ Final Estimates for the financial year 2022-23 are given.

    2.         The First Revised Estimates for the year 2023-24 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31st May, 2024. The estimates of Gross Domestic Product (GDP) and other aggregates for the year 2022-23 have also undergone revisions on account of use of latest available datasets on agricultural production; industrial production (final results of Annual Survey of Industries: 2022-23); government data as available in budget documents (replacing Revised Estimates with actuals for the year 2022-23); comprehensive data available from various source agencies like Ministry of Corporate Affairs (MCA), Reserve Bank of India (RBI), National Bank for Agriculture and Rural Development (NABARD) etc. and additional data from State/UT Directorates of Economics and Statistics (DES).

    3.         The salient features of the revised estimates at aggregate level are given in the paras as follows.

    Gross Domestic Product

    4.         Real GDP or GDP at constant (2011-12) prices for the years 2023-24 and 2022-23 stands at ₹176.51 lakh crore and ₹161.65 lakh crore, respectively, showing a growth of 9.2 per cent during 2023-24 as compared to growth of 7.6 per cent during 2022-23.

    5.         Nominal GDP or GDP at current prices for the year 2023-24 is estimated at ₹301.23 lakh crore, against ₹268.90 lakh crore for the year 2022-23, showing a growth of 12.0 per cent during 2023-24 as compared to growth of 14.0 per cent during 2022-23.

    GVA and its Industry-wise Analysis

    6.         At the aggregate level, nominal Gross Value Added (GVA) at basic prices has increased by 11.2 per cent during 2023-24 compared to growth of 13.9 per cent during 2022-23. Real GVA, i.e., GVA at constant (2011-12) prices, has increased by 8.6 per cent in 2023-24, compared to 7.2 per cent growth in 2022-23.

    7.         The shares of broad sectors of the economy in overall GVA during 2011-12 to 2023-24 and the annual growth rates during these periods are mentioned below:

    #: Final Estimates; @: First Revised Estimates

    8.         The growth rates of Primary sector (comprising Agriculture, Livestock, Forestry, Fishing and Mining & Quarrying), Secondary sector (comprising Manufacturing, Electricity, Gas, Water Supply & Other Utility Services, and Construction) and Tertiary sector (Services) have been estimated as 2.7 per cent, 11.4 per cent and 9.0 per cent respectively in 2023-24 as against growth rates of 5.9 per cent, 2.4 per cent and 10.3 per cent respectively in the previous years. The growth in real GVA during 2023-24 is on account of growth in ‘Manufacturing’, ‘Electricity, Gas, Water Supply & Other Utility Services’, ‘Construction’, ‘Trade, repair, Hotels and Restaurants’, ‘Financial Services’, ‘Real Estate, Ownership of Dwelling & Professional Services’ and ‘Other services’ as may be seen from Statement 4.2B. However, ‘Agriculture, Livestock, Forestry and Fishing’, ‘Mining and Quarrying’ and ‘Public Administration and Defense’ have witnessed modest growth.

    Net National Income

    9.         Net National Income (NNI) at current prices for the year 2023-24 stands at ₹263.50 lakh crore as against ₹233.91 lakh crore in 2022-23, showing a growth of 12.7 per cent during 2023-24 as compared to growth of 13.3 per cent in the previous year.

    Gross National Disposable Income

    10.       Gross National Disposable Income (GNDI) at current prices is estimated at ₹305.94 lakh crore for the year 2023-24, while the estimate for the year 2022-23 stands at ₹273.39 lakh crore, showing a growth of 11.9 per cent for year 2023-24 as compared to growth of 14.3 per cent in the year 2022-23.

    Saving

    11.       Gross Saving during 2023-24 is estimated at ₹92.59 lakh crore against ₹82.44 lakh crore during 2022-23. Share of Non-financial corporations, Financial corporations, General Government and Household sectors in Gross Savings during 2023-24 stands at 36.0%, 8.2%, (-) 3.1% and 59.0% respectively. Rate of Gross Saving to GNDI for 2023-24 is estimated at 30.3 per cent as against 30.2 per cent for 2022-23.

    Capital Formation

    12.       Gross Capital Formation (GCF) at current prices is estimated at ₹94.68 lakh crore for the year 2023-24 as compared to ₹87.72 lakh crore during 2022-23. The rate of GCF to GDP is 31.4 per cent during 2023-24 as against 32.6 per cent in the 2022-23. The rates of capital formation in the years 2011-12 to 2019-20 and 2021-22 to 2023-24 have been higher than the rate of saving because of positive net capital flow from Rest of the World (RoW).

    13.       In terms of the share to the total GFCF (at current prices), the highest contributor is Non-Financial Corporations followed by Household sector, share of which stood at 44.2% and 41.7% respectively in 2023-24.

    14.       The rate of GCF to GDP at constant (2011-12) prices was 35.2 per cent in 2022-23 and 34.6 per cent in 2023-24.

    Consumption Expenditure

    15.       Private Final Consumption Expenditure (PFCE) at current prices is estimated at ₹181.30 lakh crore for the year 2023-24 as against ₹165.28 lakh crore in 2022-23. In relation to GDP, the PFCE to GDP ratio at current prices during 2022-23 and 2023-24 are 61.5 per cent and 60.2 per cent respectively. At constant (2011-12) prices, the PFCE is estimated at ₹93.85 lakh crore and ₹99.07 lakh crore, respectively for the years 2022-23 and 2023-24. The corresponding PFCE to GDP ratio for the years 2022-23 and 2023-24 are 58.1 per cent and 56.1 per cent respectively.

    16.       Government Final Consumption Expenditure (GFCE) at current prices is estimated at ₹31.04 lakh crore for the year 2023-24 as against ₹27.58 lakh crore during 2022-23. At constant (2011-12) prices the estimates of GFCE for the years 2022-23 and 2023-24 stand at ₹15.44 lakh crore and ₹16.70 lakh crore respectively.

    Per Capita Estimates

    17.       Per Capita Income i.e. Per Capita Net National Income at current prices is estimated at ₹1,69,145 and ₹1,88,892 respectively for the years 2022-23 and 2023-24. Per Capita PFCE at current prices, for the years 2022-23 and 2023-24 is estimated at ₹1,19,516 and ₹1,29,967 respectively.

    Summary of Revisions in the GDP Estimates

    Revision in the estimates of the year 2023-24

    18.       The following statement gives the major reasons of variation between the Provisional Estimates (released on 31st May, 2024) and the First Revised Estimates of GVA for 2023-24.

     

    Sector

    GVA growth in 2023-24

    (at 2011-12 Prices)

    Major reasons for variation

    Provisional Estimate (PE),

    May 2024

    First Revised Estimate (FRE),

    Feb 2025

    Primary

    2.1

    2.7

    GVA estimates of Agriculture, Livestock, Forestry and Fishing sectors have undergone revision due to revision in production estimates of crop sector as per Final Estimate of Ministry of Agriculture and Farmers welfare. The revision in other industries in Primary Sector is due to the incorporation of latest revised data.

    Secondary

    9.7

    11.4

    Estimates of secondary sector have undergone revision due to use of data from source agencies along with detailed analysis of Non-departmental Enterprises (NDE) & Private Corporate sectors and budget documents of Government whereas provisional estimates were indicator based.

    Tertiary

    7.6

    9.0

    Data from source agencies along with detailed analysis of Departmental Enterprises (DE), NDE and Private Corporate sectors have been used for compilation of estimates for FRE 2023-24 whereas provisional estimates were indicator based. Furthermore, the revision in Public Administration and Defence sector is due to the use of detailed analysis of Budget documents (Centre and State Governments) and latest information of Local Bodies and Autonomous Bodies. In case of Financial services, FRE is based on analysis of annual reports of Financial Corporations and data released by RBI, NABARD and other financial regulators.

    Total GVA at Basic Prices

    7.2

    8.6

     

    GDP

    8.2

    9.2

     

    [Primary Sector: Agriculture, Livestock, Forestry & Fishing and Mining & Quarrying 

    Secondary Sector: Manufacturing, Electricity, Gas, Water supply & Other Utility Services and    Construction

    Tertiary Sector: Trade, Hotels, Transport, Communication and Services related to Broadcasting, Financial, Real Estate & Professional Services and Public Administration, Defence & Other Services]

     

    Revisions in the estimates of the year 2022-23

    19.       The use of latest available data from various agencies has resulted in changes in both the levels of GVA and growth estimates for the years 2022-23.

    Revisions in Major Aggregates

    20.       The level of revisions in the major aggregates at current and constant (2011-12) prices are given in the following table:

     

    Major National Income Aggregates and their % Changes

                                                                                       (₹ in Lakh Crore)

    Sl. No.

    Item

    2022-23

    1st RE

    Final Estimates

    % change

    At Current Prices

    1

    GVA at basic prices

    246.59  

    246.47

    -0.1

    2

    GDP

    269.50

    268.90

    -0.2

    3

    GNI

    265.79

    265.20

    -0.2

    4

    NNI

    234.39

    233.91

    -0.2

    5

    GNDI

    273.99

    273.39

    -0.2

    At Constant Prices

    1

    GVA at basic prices

    148.05

    148.78

    0.5

    2

    GDP

    160.71

    161.65

    0.6

    3

    GNI

    158.31

    159.39

    0.7

    4

    NNI

    137.47

    138.51

    0.8

     

    Major reasons for revisions in GVA/GDP estimates for FY 2022-23 are as given below:

    • Use of updated production estimates (Final Estimates) of horticulture crops from Ministry of Agriculture and Farmers’ Welfare, increase in area under fodder crop and increase in production of sugarcane.
    • Increase in input value due to use of Cost of Cultivation Survey (CCS) 2022-23 and Electricity tariff for agriculture sector for the year 2022-23.
    • Use of updated information from NDE and updated information on minor minerals from States in case of Mining & Quarrying sector.
    • Use of final results of Annual Survey of Industries (ASI): 2022-23 and augmented data for non-financial private corporate sector.
    • Use of ‘Actuals’ in place of ‘Revised Estimates’ of different items of expenditure and receipts in the Central & State government budgets.
    • Use of updated information on Local Bodies & Autonomous Institutions.
    • Use of latest annual reports of Public Sector Enterprises.
    • Use of latest data received for Cooperative Banks, Post Office Saving Bank (POSB), Non-Banking Financial Institutions (NBFIs), and Financial Auxiliaries.

    Detailed statements

    21.       List of Statements released in part ‘B’ of the press note is given below. More details of the revised estimates, i.e., FRE 2023-24 and FE 2022-23 are available in Statements 1.1B to 9B of Annexure C, which are given in the PDF format of the press note.

    1. Statement 1.1B:          Key Aggregates of National Accounts at Current Prices
    2. Statement 1.2B:          Key Aggregates of National Accounts at Constant (2011-12) Prices
    3. Statement 2B:             Per Capita Income, Product and Final Consumption
    4. Statement 3.1B:          Output by Economic Activity and Capital Formation by Industry of Use at Current Prices
    5. Statement 3.2B:          Output by Economic Activity and Capital Formation by Industry of Use at Constant (2011-12) Prices
    6. Statement 4.1B:          Gross Value Added by Economic Activity at Current Basic Prices
    7. Statement 4.2B:          Gross Value Added by Economic Activity at Constant (2011-12) Basic Prices
    8. Statement 5B:             Finances for Gross Capital Formation
    9. Statement 6.1B:          Gross Capital Formation by Industry of Use at Current Prices
    10. Statement 6.2B:          Gross Capital Formation by Industry of Use at Constant (2011-12) Prices
    11. Statement 7.1B:          Gross Fixed Capital Formation by Asset & Institutional Sector at Current Prices
    12. Statement 7.2B:          Gross Fixed Capital Formation by Asset & Institutional Sector at Constant (2011-12) Prices                   
    13. Statement 8.1B:          Private Final Consumption Expenditure at Current Prices
    14. Statement 8.2B:          Private Final Consumption Expenditure at Constant (2011-12) Prices
    15. Statement 9B:             Institutional Sectors – Key Economic Indicators at Current Prices

    **************

    Annexure C

    FORMULAE

    1. GVA at basic prices (Production Approach) = Output at basic prices – Intermediate Consumption
    2. GVA at basic prices (Income Approach) = CE + OS/MI + CFC + Production taxes less Production subsidies(i)
    3. GDP = ∑ GVA at basic prices + Product taxes less Product subsidies(ii)
    4. NDP/NNI = GDP/GNI – CFC
    5. GNI = GDP + Net primary income from ROW (Receipts less payments)
    6. Primary Incomes = CE + Property and Entrepreneurial Income
    7. NNDI =NNI + other current transfers(iii) from ROW, net (Receipts less payments)
    8. GNDI = NNDI + CFC = GNI + other current transfers(iii) from ROW, net (Receipts less payments)
    9. Gross Capital Formation(iv) (Financing Side) = Gross Savings + Net Capital Inflow from ROW
    10. GCF (Expenditure Side) = GFCF + CIS + Valuables
    11. Gross Disposable Income of Govt. = GFCE + Gross Saving of General Government
    12. Gross Disposable Income (GDI) of Households = GNDI – GDI of Govt. – Gross Savings of All Corporations

     

    REMARKS ON THE FORMULAE

    1. Production taxes or subsidies are paid or received with relation to production and are independent of the volume of actual production. Some examples are:

    Production Taxes – Land Revenues, Stamps & Registration fees and Tax on profession

    Production Subsidies – Subsidies to Railways, Subsidies to village and small industries.

    1. Product taxes or subsidies are paid or received on per unit of product. Some examples are:

    Product Taxes- Goods & Service Tax, Excise duties, Sales tax, Service Tax and Import, Export duties

    Product Subsidies- Food, Petroleum and fertilizer subsidies.

    1. Other Current Transfers refers to current transfers other than the primary incomes.

    Gross Capital Formation (GCF) at the current as well as the constant prices is estimated by two approaches: – (i) through flow of funds, derived as Gross Saving plus net capital flow from Rest of the World (RoW); and (ii) by the commodity flow approach, derived by the type of assets.

    Click here to see Press Note in PDF format

    ********

    Samrat/ Dheeraj/Allen

    (Release ID: 2106921) Visitor Counter : 310

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: English translation of Press Statement by Prime Minister Shri Narendra Modi during the Joint Press Conference with President of European Commission (February 28, 2025)

    Source: Government of India (2)

    Posted On: 28 FEB 2025 3:04PM by PIB Delhi

    Your Excellency, President of the European Commission,

    European College of Commissioners,

    Delegates,

    Friends from the media,

    Namaskar!

    This visit of the President of the European Commission and the College of Commissioners to India is unprecedented.

    This isn’t just the European Commission’s first visit to India, but also the first such comprehensive engagement of the European Commission in any single country. Also, this is one of the first visits of the new Commission in its latest term. On this historic occasion, I warmly welcome the President of the European Commission and the College of Commissioners to India.

    Friends,

    This two-decade long strategic partnership between India and EU is natural and organic. Its core is built on trust, a shared belief in democratic values, and a mutual commitment to prosperity and shared progress.

    In this spirit, we have held almost 20 ministerial level meetings of different sectors between yesterday and today. Sincere and meaningful discussions were held on various regional and global matters. Many important decisions have been taken to elevate and accelerate our partnership.

    We have prepared a blueprint for collaboration in the areas of Trade, Technology, Investment, Innovation, Green Growth, Security, Skilling and Mobility. We have directed our teams to conclude a mutually beneficial Bilateral Free Trade Agreement by the end of this year.

    Friends,

    To strengthen the investment framework, there has also been talk of moving forward on Investment Protection and GI Agreement. In the field of Technology and Innovation, a trusted and secure value chain is our common priority.

    We have also agreed on increasing cooperation in semiconductors, AI, high performance computing and 6G. We have also decided to initiate a Space Dialogue.

    Friends,

    A balance between Ecology and Economy has been our shared commitment, and our cooperation in this direction has been strong. We have decided to conduct a Green Hydrogen Forum and Offshore Wind Energy Business Summit. Joint research shall be undertaken on EV Batteries, Marine plastics and Green hydrogen. We shall also take forward our Joint Plan on Sustainable Urban Development.

    In the field of connectivity, concrete steps will be taken, to take forward the India – Middle East – Europe Economic Corridor or “IMEEC”. I firmly believe that “IMEEC” shall serve as an engine that drives global commerce, sustainable growth and prosperity in the days to come.

    Friends,

    Our growing cooperation on issues related to Defence and Security, is a symbol of our mutual trust. We will take forward our cooperation on Cyber Security, Maritime Security and Counter Terrorism.

    Both sides agree on the importance of peace, security, stability and prosperity in the Indo-Pacific region. We welcome the decision of the EU to join the “Indo Pacific Oceans Initiative”. We will work together on Triangular Development projects for sustainable and inclusive development in the Indo-Pacific region and Africa.

    Friends,

    People-to-people connect is the strongest asset of our relationship. Today, we have reached a new agreement to increase academia, research and industry partnerships between us. I believe that India’s young talent and Europe’s innovation can together create limitless possibilities.

    We welcome the new visa cascade regime of the EU. This will provide better mobility to the abilities of India’s talented youth.

    Today, we have decided to create a bold and ambitious roadmap for the India-EU partnership for the period beyond 2025. It will be launched during the next India-EU Summit.

    Excellency,

    Your visit to India has given new momentum, energy and enthusiasm to our partnership. This journey is the biggest catalyst that will translate our ambition into action.

    I eagerly look forward to the opportunity of welcoming you back to India for the next India-EU Summit.

    Thank you very much.

    ******

    MJPS/ST/SKS

    (Release ID: 2106908) Visitor Counter : 106

    MIL OSI Asia Pacific News –

  • MIL-OSI: No. 5/2025 – Notice to convene annual general meeting

    Source: GlobeNewswire (MIL-OSI)

    Nasdaq Copenhagen                                                                                   
    Nikolaj Plads 6
    DK-1067 Copenhagen K   

    Copenhagen, 28 February 2025
    ANNOUNCEMENT no. 5/2025

    CEMAT A/S
    Company reg. (CVR) no. 24 93 28 18
    Annual general meeting

    The Board of Directors hereby convene the annual general meeting of Cemat A/S (the “Company”) for Wednesday, 26 March 2025, at 1:00 pm at the office of DLA Piper Denmark, Oslo Plads 2, 2100 Copenhagen OE, Denmark.

    Agenda

    The agenda of the annual general meeting is the following:

    1. The management’s report on the Company’s activities during the past financial year.
    1. Presentation of the audited annual report for adoption.
    1. The Board of Directors’ proposal for appropriation of profit or covering of loss according to the adopted annual report.
    1. Presentation of and indicative vote on remuneration report.
    1. Approval of the Board of Directors’ fees for the current financial year.
    1. Election of members to the Board of Directors.
    2. Appointment of auditor.
    1. Proposals from the Board of Directors or shareholders.
    1. Any other business.

    Complete proposals

    Re item 1     The management’s report on the Company’s activities during the past financial year.

    The Board of Directors proposes that the general meeting takes note of the management’s report.

    Re item 2     Presentation of the audited annual report for adoption.

    The Board of Directors proposes that the general meeting adopts the annual report.

    Re item 3     The Board of Directors’ proposal for appropriation of profit or covering of loss according to the adopted annual report.

    The Board of Directors proposes that the profit for the year as recorded in the Annual Report as adopted by the general meeting be carried forward to next year.   

    Re item 4     Presentation of and indicative vote on remuneration report.

    The Board of Directors proposes that the general meeting adopts the presented remuneration report.

    Re item 5     Approval of the Board of Directors’ fees for the current financial year.

    The Board of Directors proposes that members of the Board of Directors will receive the basic fee of DKK 220,000 for the financial year 2025.

    The chairman of the Board of Directors will receive the basic fee multiplied by a factor of 2.5, and the vice-chairman will receive the basic fee multiplied by a factor of 1.75.

    Re item 6     Election of members to the Board of Directors.

    The Board of Directors proposes to re-elect:

    Frede Clausen, chairman, born 1959
    Professional board member
    Various banking qualifications
    Graduate Diploma in Business Administration
    Elected chairman in 2018
    Other duties and offices:
    Frede Clausen Holding ApS (CEO)
    Core Poland Residential V (board member)
    Malik Supply A/S (chairman)
    Developnord A/S (chairman)
    Søndergaard Holding Aalborg ApS (chairman)
    Palma Ejendomme ApS (chairman)
    Ejendomsselskabet Gøteborgvej 18 ApS (vice-chairman)
    PL Holding Aalborg A/S (chairman)
    Radioanalyzer ApS (chairman)
    Independent
    Special qualifications: Strategic management, business development and real estate
    Languages: Danish and English

    Eivind Dam Jensen, vice-chairman, born 1951
    Estate Agent
    Member of the Danish Association of Chartered Estate Agents
    Diploma in Administration
    Elected vice-chairman in 2005
    Other duties and offices:
    Owner of Chartered Estate Agency E. Dam Jensen
    Chairman and sole shareholder of A/S Eivind Dam Jensen
    Owner of Brundtland Golfcenter (via A/S Eivind Dam Jensen)
    Non-independent
    Special competences: Purchase, sale, valuation and letting of commercial and
    investment properties and property management
    Languages: Danish, English and German.

    Joanna L. Iwanowska-Nielsen, born 1968
    Real Estate Expert
    Degree in International Trade, Organisation and Management
    from the Warsaw School of Economics
    Joined the Board of Directors in 2016
    Directorships and other managerial positions:
    Member of the board of directors of Sustainable Malkowo
    Advisor to the Board of Directors, Ecofarm Foundation
    Member of the board of directors of Coille Righ Green Energy, Scotland
    Member of the board of directors of WildaNova
    Member of the board at NielsenNielsen Ltd (UK)
    Managing Partner in NOLTA Consultants and NOLTA Career Experts
    Board Member of EPI (European Property Institute) think tank
    Member of Warsaw Women in Real Estate & Development
    Founding Member of Women in Global Health’s CEE Chapter
    No directorships in other Danish companies
    Independent
    Special qualifications:
    Experience in the real estate trade in Poland, CEE and
    internationally (development, strategy, sales and project
    management in both the commercial and residential property
    sectors, including sustainable housing, farming enterprises and energy solutions)
    EMCC accredited business coach & mentor
    Languages: Polish, English and Russian.

    Brian Winther Almind, born 1966
    Executive Vice President, DSV Group Property
    Joined the Board of Directors in 2023
    Other duties and offices:
    Shipping agent – Ellegard Transport, of which 2 years were in Verona, Italy
    Traffic manager – DFDS Transport
    Traffic manager – DHL A/S
    Executive Vice President – DSV A/S since 1997
    Directorships and other managerial positions:
    Member of the board in several companies owned by DSV A/S
    Network – European Logistics Forum (ELF), VL 111
    No directorships in other Danish companies
    Special competences:
    Generel management, business development, integration of companies. Property in relation with purchase of land, public sector handling, project management, building activities, purchase and sale, leasing, law, strategy, finances, various large projects in more than 90 countries.  
    Languages: Danish and English.

    Re item 7     Appointment of auditor.

    The Board of Directors proposes that BDO Statsautoriseret Revisionsaktieselskab be reappointed.

    Re item 8     Proposals from the Board of Directors.

    No proposals have been received from the board of directors or executive board

    General information

    The Company’s nominal share capital amounts to DKK 4,997,006.06, divided into 249,850,303 shares of DKK 0.02 each. Each share of DKK 0.02 entitles the holder to one vote.

    The Company has concluded a connection agreement with VP Securities A/S. The financial rights of the shareholders may thus be exercised through VP Securities A/S.

    Requirements for adoption

    Items 2-7 considered at the general meeting will be determined by a simple majority of votes, see article 10.1 of the Company’s articles of association as well as section 105 of the Danish Companies Act.

    The Company’s website

    This notice, including the agenda, remuneration report, information about the total number of shares and voting rights on the date of the notice and proxy, postal voting and registration forms for ordering an entry card, will be made available to the shareholders on the Company’s website, www.cemat.dk, under “Investor/General Meetings” from 28 February 2025.

    This notice has also been published via Nasdaq Copenhagen A/S, the IT system of the Danish Business Authority and the Company’s website as well as by e-mail to the shareholders having requested e-mail notification of general meetings when stating their e-mail addresses.

    Date of registration

    The shareholders will be entitled to exercise the right to vote attaching to the shareholders’ shares, by attendance at the Company’s general meetings or by post pro rata to their shareholding at the date of registration, which is one week before the general meeting.

    The date of registration is Wednesday, 19 March 2025.

    The shareholding of each individual shareholder will be determined at the end of the date of registration based on the number of shares held by the shareholder according to the register of shareholders as well as any notice of ownership received by the Company for the purpose of registration in the register of shareholders, but not yet been registered. In order to be registered in the register of shareholders and included in the calculation, notices of shareholdings must be documented by a transcript from VP Securities A/S or other similar documentation. This documentation must be received by the Company before the end of the date of registration.

    Only the persons who are shareholders of the Company on the date of registration will be entitled to participate and vote at the general meeting but see below regarding the shareholders’ timely request for entry cards.

    Accordingly, any person who has purchased shares, whether by transfer or otherwise, will not be entitled to vote on the shares in question at the general meeting, unless he or she has been recorded in the register of shareholders or has notified the Company and provided documentation of his or her acquisition, no later than on the date of registration, which is Wednesday, 19 March 2025.

    Entry cards

    In order to participate in the general meeting, the shareholders must request an entry card for the general meeting no later than Friday, 21 March 2025. Entry cards may be requested electronically via www.cemat.dk until Friday, 21 March 2025, at 23:59 using MitID or custody account number and password on the Company’s shareholder portal. Shareholders registering for the general meeting electronically will immediately receive a confirmation of their registration.

    It is also possible to request an entry card by forwarding a completed registration form to the Company’s keeper of the register of shareholders, Computershare A/S, Lottenborgvej 26D, 2800 Kongens Lyngby, Denmark, which must receive the form by Friday, 21 March 2025 at 23.59. The registration form is available at www.cemat.dk.

    Please notice that ordered admission cards will no longer be sent out by ordinary mail.

    Admission cards ordered via the shareholder portal will be sent out electronically via email to the email address specified in the shareholder portal upon registration. The admission card must be presented at the annual general meeting either electronically on a smartphone/tablet or in a printed version.

    Admission cards can be picked up at the entrance of the general meeting upon presentation of a valid ID.

    Proxy

    Shareholders are entitled to attend by proxy. An electronic proxy instrument may also be submitted via the shareholder portal until Friday, 21 March 2025, at 23:59.

    The complete proxy form must be received by the Company’s keeper of the register of shareholders, Computershare A/S, by Friday, 21 March 2025, at 23:59. The proxy form is available at www.cemat.dk.

    Postal voting

    Shareholders may elect to vote by post, i.e., by casting their votes in writing, before the general meeting, instead of attending the general meeting and voting there.

    Shareholders who elect to vote by post may submit their postal vote electronically via the shareholder portal or send their postal vote to Computershare A/S where it must be received by Tuesday, 25 March 2025, at 16:00.

    Once received, a postal vote cannot be recalled. Please note that letters may sometimes take several days to reach their destination.

    Questions

    Shareholders will have an opportunity to ask questions to the agenda as well as to the other materials for the general meeting before the general meeting.

    Any questions concerning this announcement may be directed to info@cemat.dk.

    Cemat A/S

    Frede Clausen
    Chairman of the Board of Directors

    This announcement has been issued in Danish and English. In case of any inconsistencies, the Danish version will prevail.

    Please write to investor@cemat.dk to deregister from this mailing list.

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: Coming up next week at the London Assembly W/C 3 March

    Source: Mayor of London

    PUBLIC MEETINGS
      
    Tuesday 4 March
     
    Q&A with the Deputy Mayor for Environment and Energy
    Environment Committee     – Chamber, City Hall, Kamal Chunchie Way, 10am

    The London Assembly Environment Committee will meet with the Deputy Mayor for Environment and Energy for a question and answer session, exploring the progress made in achieving the Mayor’s manifesto priorities, as well as wider progress on areas in the London Environmental Strategy and London’s 2030 net zero target.

    Other topics will include noise pollution, airport expansion, the proposed new green roots fund, and swimmable rivers.

    The guests are:

    • Mete Coban MBE, Deputy Mayor of London for Environment and Energy
    • Megan Life, Assistant Director for Environment and Energy, Greater London Authority (GLA)
    • Pete Daw, Head of Climate Change, GLA

    MEDIA CONTACT: Tony Smith on 07763 251727 / [email protected] 
     
    Wednesday 5 March
     
    End-of-life Care in London
    Health Committee – Chamber, City Hall, Kamal Chunchie Way, 10am

    The London Assembly Health Committee will ask guests about the state of end-of-life care provision in London, with a particular focus on end-of-life care for elderly people.

    The guests are:

    Panel 1: 10am – 11.25am

    •    Dr Katherine Buxton, Clinical Director for Palliative and End-of-Life Care Network, NHS England, London
    •    Dr Lyndsey Williams, General Practitioner and Clinical Lead for End-of-Life Care, North West London Integrated Care Board
    •    Sarah Scobie, Deputy Director of Research, Nuffield Trust

    Panel 2: 11.30am – 1pm

    • Becca Trower, Joint CEO and Clinical Director, St Raphael’s Hospice
    • Ruth Driscoll, Associate Director for Policy & Public Affairs, Marie Curie
    • Dr Armita Jamali, Consultant in Palliative Medicine, The Royal Marsden and Royal Brompton Hospitals
    • Dr Libby Sallnow, Associate Professor, Head of Marie Curie Palliative Care Research Department, University College London

    MEDIA CONTACT: Alison Bell on 07887 832918 / [email protected]  
     

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Asian Development Blog: Hold the Salt: Harnessing Desalination for Water Security

    Source: Asia Development Bank

    Desalination offers a viable solution to water scarcity in the Pacific, but its success depends on careful planning, energy efficiency, and environmental considerations. Integrating renewable energy, engaging communities, and ensuring sustainable brine disposal are key to long-term viability.

    The Pacific region is grappling with increasing water scarcity, driven largely by the impacts of climate change. Rising sea levels, prolonged droughts, and changing rainfall patterns have strained freshwater resources, leaving many coastal communities vulnerable.

    As traditional water supplies become less reliable and populations continue to grow, the need for innovative and climate-resilient solutions has never been more urgent. However, implementing alternative technologies like desalination requires careful consideration to ensure its effectiveness, sustainability, and community acceptance.

    Desalination involves the removal of salts and impurities from brackish water and seawater sources to produce potable water. However, removing salt from water is an energy intensive treatment process. The most widely used desalination method is reverse osmosis, as it has the lowest energy usage of the available and mature desalination technologies.

    Reverse osmosis uses semi-permeable membranes and hydraulic pressure to filter out contaminants including salt. While this technology offers significant advantages in providing a reliable water source, it also presents challenges, especially in remote areas and emergency contexts where resources and infrastructure may be limited.

    Before deploying desalination technology, it is crucial to assess the specific site conditions, including the quality of the salty water available for treatment. The salinity level, temperature, and presence of contaminants such as sediments or organic materials can significantly impact the performance of the desalination system.

    In emergency contexts, the water intake may be compromised due to increased sediment loads or bacterial contamination from natural disasters. A robust pre-treatment process is essential to protect reverse osmosis membranes and maintain operational efficiency.

    Pre-treatment systems should be designed to remove larger particles, suspended solids, and biological contaminants, ensuring that only water suitable for the membrane elements enters the desalination unit.

    Energy consumption is also a critical factor when considering desalination technologies. Reverse osmosis systems can be energy-intensive, requiring between three and five kilowatt-hours per 1,000 litres of water produced.

    In remote settings, reliable energy sources may be challenging to secure. It is essential to evaluate available energy options before implementation. Integrating renewable energy sources, such as solar panels or wind turbines, can help mitigate energy costs and reduce the carbon footprint of desalination systems, particularly in remote settings.

    Portable desalination units are largely powered by generators during emergencies, but careful planning for fuel supply and maintenance is necessary to ensure continuous operation.

    Desalination technology has the potential to play a pivotal role in addressing water scarcity challenges faced by remote and coastal communities, especially during emergencies.

    Effective operation and maintenance are vital for the long-term success of desalination projects. In remote and emergency settings, local capacity may be limited, making it crucial to establish training programs for technicians. Investing in local training not only builds community skills but also fosters ownership and sustainability in water management.  

    A comprehensive maintenance plan should include routine checks of the desalination unit, regular cleaning of pre-treatment filters, and periodic replacement of reverse osmosis membranes.

    Ensuring that local operators are equipped with the knowledge and tools needed for maintenance will enhance the reliability and efficiency of desalination systems. This is especially important for emergency units that may be intermittently used and stored for long periods between use.  

    The environmental implications of desalination must be carefully considered, particularly concerning brine disposal. The concentrated saline byproduct generated during the desalination process can have negative effects on marine ecosystems if not managed properly.

    To mitigate these impacts, brine should be dispersed across a wide area rather than discharged in a single location. Additionally, a lower salinity, higher volume brine can be produced by operating the reverse osmosis unit at a low recovery rate.

    This practice helps prevent localized salinity increases that can harm marine life. Engaging with environmental experts and local authorities to develop responsible brine management strategies is essential for sustainable desalination practices.

    Community involvement is paramount when implementing desalination technology. Engaging local populations in discussions about the technology, its benefits, and potential challenges fosters a sense of ownership and acceptance.

    Providing education on water management and desalination processes will help demystify the technology and encourage responsible use of water resources. Building trust within the community is crucial for the success of desalination projects.

    Collaboration with local stakeholders, including government agencies and non-governmental organizations, can help address concerns and ensure that the technology aligns with community needs.

    The initial investment for desalination technology can be significant, and ongoing operational costs must be evaluated to ensure long-term sustainability. It is essential to conduct a cost-benefit analysis that considers factors such as energy consumption, maintenance requirements, and the expected lifespan of the equipment.

    Exploring funding opportunities from government programs, international organizations, and public-private partnerships can help offset the financial burden. Engaging with development partners can also provide technical assistance and capacity-building support to ensure the successful implementation of desalination systems.

    Desalination technology has the potential to play a pivotal role in addressing water scarcity challenges faced by remote and coastal communities, especially during emergencies.

    However, careful consideration of site conditions, energy requirements, operational needs, environmental impacts, community engagement, and funding opportunities are essential for effective implementation.

    As we move toward a future that is increasingly affected by climate change, harnessing the power of desalination with thoughtful planning and community involvement will be critical in building water resilience across the Pacific. By investing in these technologies and empowering local communities, we can create sustainable solutions that secure safe drinking water for generations to come.
     

    MIL OSI Economics –

  • MIL-OSI United Kingdom: GBN at final stage of Small Modular Reactor selection process

    Source: United Kingdom – Executive Government & Departments

    Press release

    GBN at final stage of Small Modular Reactor selection process

    Great British Nuclear at final stage of Small Modular Reactor selection process

    Great British Nuclear (GBN) has entered the final stage of the UK’s Small Modular Reactor (SMR) selection process and is on track to make final decisions in the Spring.

    An Invitation to Submit Final Tender (ISFT) has been issued to the four remaining vendors, GE-Hitachi Nuclear Energy International LLC, Holtec Britain Ltd, Rolls-Royce SMR Ltd, and Westinghouse Electric Company UK Ltd.

    Earlier in February, the Prime Minister pledged to put Britain back in the global race for nuclear energy, and to reform planning rules to make it easier to build fleets of SMRs in England and Wales.

    SMRs are smaller than traditional nuclear power plants and their modular construction could provide a way of delivering nuclear more quickly and cost-effectively. They could also be built in a greater variety of locations, and be co-located with energy-intensive industrial sites such as AI data centres.

    GBN’s Chair, Simon Bowen, said:

    “This is an exciting moment for Great British Nuclear and the UK as we reach the final stage of the technology selection process for the Small Modular Reactor programme.”

    “Nuclear energy is vital for economic growth and delivering secure, reliable, home-generated power that is capable of meeting future demand, enabling Net Zero, and reducing the UK’s dependence on importing fossil fuels.”

    “Since GBN was launched in 2023, the team has made huge strides in delivering a fair, robust, and transparent process for technology selection.”

    Secretary of State for Energy Security and Net Zero, Rt Hon Ed Miliband MP, said:

    “Small modular reactors will support our mission to become a clean energy superpower.

    “That’s why we are backing new nuclear technology to help secure our energy independence and grow the economy.”

    For more information, please contact:

    Cory Reynolds, Director of Communications and Government Relations
    e: cory.reynolds@gbnuclear.gov.uk m: 07701 235045

    Ieuan Williams, Head of Stakeholder and Media Relations
    e: ieuan.williams@gbnuclear.gov.uk m: 07889 108555

    Notes to Editors

    • GBN has now concluded the negotiation phase with the four bidders participating in SMR competition
    • To reach this stage, each of the four designs was subject to a robust analysis
    • GBN has evaluated each technology, including aspects such as safety, deliverability, and their ability to support development of a fleet of SMRs
    • GBN considers the designs, each of which is proceeding through the UK’s regulatory process, are viable options for development
    • GBN owns land for potential new nuclear development at both Wylfa on Ynys Môn/Anglesey and Oldbury-on-Severn in Gloucestershire. GBN is working closely with the local communities at these sites to consider how future new nuclear projects could benefit their communities

    About Great British Nuclear (GBN)

    Great British Nuclear (GBN) is the Government delivery body dedicated to supporting the development and deployment of new nuclear technologies in the UK. As an executive non-departmental public body sponsored by the Department for Energy Security and Net Zero (DESNZ), GBN plays a crucial role in ensuring the UK’s energy security and achieving net-zero carbon emissions. GBN focuses on fostering innovation, facilitating investment, and coordinating efforts across the nuclear industry to build a resilient and sustainable energy future.

    Updates to this page

    Published 28 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Roadshow to reach 2,500 Portsmouth residents missing out on Pension Credit

    Source: City of Portsmouth

    A Pension Credit roadshow is happening around the city, as the council tries to reach some of the 2,500 Portsmouth residents estimated to be missing out on Pension Credit.

    Portsmouth City Council staff are out at various locations talking to older residents and helping them start the application process. From Monday – Friday, 3-7 March, staff will be at another ten venues and people of pension age are encouraged to come along to see if they’re eligible – full list below.

    Pension Credit tops up people’s pensions if they’re on low income, and those who claim it are getting on average £3,900 extra a year, according to the Government.

    Council Leader Cllr Steve Pitt joined the session at the Bridge Centre, Fratton Road, and said:

    “We believe up to 2,500 Portsmouth people are missing out on money by not claiming Pension Credit. That’s as much as £3,900 each that could really help someone to stay warm, pay their bills and do more of what they enjoy.

    “From speaking to older people, it’s clear many don’t realise they qualify. These events are part of the council’s wider campaign to reach people in their communities and help them to apply.

    “If you know an older person on low income who might be eligible, please encourage them to attend, or call the council and we can support them.”

    The engagement activity has already helped many older people start the process of applying, and is resulting in increasing numbers of Portsmouth residents claiming pension credit.

    Portsmouth Older Persons Energy Payment Scheme

    The Council is still offering its one-off payment scheme to some pensioners on low income who didn’t receive the Government’s Winter Fuel Allowance. Applications close on 7 March.

     

    Pension Credit sessions – where to find us

    • Monday 3 March, 9.30am to 11am – Spark Community Centre, Unit 12, The Pompey Centre, PO4 8SL
    • Monday 3 March, 12.30pm to 2pm – Stamshaw and Tipner Leisure Centre, 69 Wilson Rd, PO2 8LE
    • Tuesday 4 March, 10.30am to 12pm – Age UK, 16-18 Kingston Road, PO1 5RZ
    • Tuesday 4 March, 3.30pm to 5pm – ASDA Fratton, PO1 1SL
    • Wednesday 5 March, 10.30am to 12pm – St Margaret’s Church, Highland Road, PO4 9DD
    • Wednesday 5 March, 11.30am to 1pm – Southsea Library, 19-21 Palmerston Road, PO5 3QQ
    • Thursday 6 March, 9.30am to 11am – Salvation Army, The Haven, Lake Road, PO1 4HA
    • Thursday 6 March, 5.30pm to 7pm – Buckland Community Centre, Malins Road, PO2 7BT
    • Friday 7 March, 9.30am to 11am – Somerstown Central Café (The Hub), Winston Churchill Avenue, PO5 4JJ
    • Friday 7 March, 12.30pm to 2pm – QA Hospital outside Main Entrance, Cosham, PO6 3LY

     Look out for council staff in hi-visibility jackets, you can ask them for council identification.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: With the support of Rosneft, a professional skills championship was held in Bashkiria

    Translartion. Region: Russians Fedetion –

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

    With the support of ANK Bashneft (part of Rosneft), the regional stage of the All-Russian Championship in Professional Skills “Professionals – 2025” was held in Bashkortostan. The competition was held at more than 40 sites of regional colleges, with over 1,500 students taking part.

    The intensive program of the championship, which lasted for 3 weeks, included more than 200 competencies, including: oil and gas production, laboratory chemical analysis, oil and gas processing, electrical installation, chemical technology operator and others. 24 winners in the oil and gas field were awarded certificates and memorable gifts from Bashneft.

    As part of the championship’s business program, Bashneft specialists took part in a plenary session and organized a meeting with students from specialized colleges, where they discussed career prospects in the Company and the possibility of continuing their education at a partner university.

    Rosneft aims to ensure a constant flow of professionally trained young specialists from among the best graduates. The company supports schools, colleges, technical schools and universities in the regions of production activity and cooperates with 203 educational partner organizations in training qualified specialists in the oil industry and forming an external personnel reserve.

    In 2024, almost 2,000 university and college students completed internships at Bashneft, of which more than 1,000 received employment and payment for the internship period. About 170 final-year students combine their studies with permanent employment at Bashneft enterprises thanks to their transfer to individual training plans.

    Reference:

    The All-Russian championship movement “Professionals” is aimed at increasing the prestige of blue-collar jobs, attracting young people to the production sectors of the economy and improving qualification standards for blue-collar jobs and specialties.

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

    Department of Information and Advertising of PJSC NK Rosneft February 28, 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 Economics: BSTDB Strengthens Partnership with Hayat Kimya in Türkiye

    Source: Black Sea Trade and Development Bank

    Press Release | 17-Dec-2024

    New Financing to Boost Capacity and Energy Efficiency

    Hayat Kimya Sanayi A.Ş., a leading Turkish manufacturer of detergents, hygiene products, and tissue paper, will advance its investment plans with the support of a €25 million loan from the Black Sea Trade and Development Bank (BSTDB). The agreement marks an important milestone in a partnership that began nine years ago.

    The BSTDB financing will back Hayat Kimya’s investment program, focusing on expanding production capacity, introducing new product lines, and enhancing energy efficiency. This initiative is also expected to bolster regional trade, as a significant portion of the company’s exports targets BSTDB member countries.

    Commenting on the agreement, BSTDB President Dr. Serhat Köksal said: “We are pleased to support Hayat Kimya, a leading manufacturer and major employer in Türkiye, as it pursues its ambitious growth plans. Our new financing underlines BSTDB’s commitment to sustainable industrial development and regional integration. By prioritizing energy efficiency and environmentally conscious practices, Hayat Kimya’s investment programme aligns with our mission to support projects that drive long-term economic and environmental benefits. Our support will help modernize Türkiye’s industrial capacity and strengthen trade ties within the Black Sea region, advancing shared prosperity and sustainable development.”

    “As part of our collaboration with the Black Sea Trade and Development Bank, we will increase the production capacity of our home care category at our facilities in Mersin and Kocaeli, Turkey. Today, at least one Hayat product can be found in 9 out of 10 households in Turkey. Globally, our export penetration ranges between 60% and 80% across more than 100 countries. With this new investment in the home care category, we aim to further strengthen our leadership, particularly in the detergent product segment.” said Ayla Hacıahmetoğlu, the Global Treasury Director of Hayat Kimya.

     

    Founded in 1937, Hayat Kimya is a leading global manufacturer and exporter of detergents, hygiene products, and tissue paper. The company operates 26 state-of-the-art production facilities across 8 countries, employing over 10,000 people. All products are produced in a fully automated, hands-free environment, meticulously designed and managed in compliance with the ISO 9001 Quality Assurance System.

     

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

     

    Contact: Haroula Christodoulou

    : @BSTDB

    MIL OSI Economics –

  • MIL-OSI: Bitget Wallet Mitigates Memecoin Volatility with Trading Rebates on BNB Chain

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 28, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has introduced a trading rebate program for meme coin transactions on BNB Chain, responding to increased market volatility and investor participation in the sector. As BNB Chain emerges as a major hub for meme coin trading, price fluctuations remain a key concern. The initiative aims to provide risk mitigation measures to help traders navigate these highly volatile assets.

    Running from February 20 to March 5, 2025, the rebate program offers compensation of up to 250 USDT per transaction for traders whose losses exceed 50% of their principal investment when trading BNB Chain-supported tokens via Bitget Wallet Swap. The program is designed to address the risks associated with meme coin speculation by providing a temporary safety net during this period of heightened market activity.

    Beyond the rebate, Bitget Wallet provides key tools to enhance decision-making and execution in meme coin trading. MemeX helps users discover new tokens early, offering insights into emerging opportunities. Instant Swap Mode ensures fast execution, reducing slippage and failed trades during volatility. Cross-Chain Swaps enable seamless transfers from other networks such as Ethereum and Solana into BNB Chain tokens, simplifying fund movement. Limit orders let traders automate buy and sell strategies, capturing market movements without constant monitoring. Additionally, the GetGas gas account allows users to pay transaction fees with USDT, USDC, ETH, or BGB, eliminating the need to hold BNB for gas fees and streamlining the trading process.

    The surge in meme coin activity underscores a broader shift in on-chain trading dynamics, where speculative assets are driving retail engagement. However, the high volatility presents challenges for traders seeking sustainable market participation. By introducing risk-mitigation mechanisms alongside trading infrastructure, Bitget Wallet’s approach reflects a growing emphasis on risk-managed trading experiences within decentralized finance (DeFi).

    “As meme coin trading continues to evolve, balancing accessibility with risk management remains a key consideration,” said Alvin Kan, COO of Bitget Wallet. “This initiative is part of our ongoing efforts to provide traders with more structured tools and protections to navigate the rapidly changing Web3 market with greater confidence.”

    For more details, please visit Bitget Wallet blog.

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ba64e90-5b41-4e32-bafa-baaa30b72c17

    The MIL Network –

  • MIL-OSI: Production report for January 2025

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 28 February 2025

             January 2025 December 2024
    Operated Boepd (1) Bopd (1) Boepd (1) Bopd (2)
    Colombia 623 446 594 418
    Argentina 1,342 218 1,908 244
    Total operated 1,965 664 2,502 662
    Total equity 991 384 1,217 377

    (1)   Barrels of oil equivalents per day (includes liquid and gas)
    (2)   Barrels of oil per day (represents only liquids)
    [boepd]: barrels of oil equivalents per day (includes liquid and gas)
    [Operated]: 100% field production operated by Interoil
    [Equity]        : Interoil’s share production net of royalties.

    Production Summary

    Interoil’s daily average total operated production for January was 1,965 boepd, reflecting a decrease of 537 boepd when compared with December.

    Decline is primarily attributed to our operations in Argentina (-566 boepd) while operations in Colombia had a modest increase (+ 29 boepd).

    Country-Specific Highlights

    Argentina

    Gas production was primarily affected by the breakdown of two compressor engines, which required the custom fabrication of replacement parts. These parts arrived to the field in February. Consequently, gas production experienced a sustained decrease from January until the repair of the damaged compressors in February.

    Colombia

    In January, the Vikingo-1 well achieved an average daily production of 196 boepd, effectively offsetting the natural depletion at Puli C and contributing an additional 30 boepd. Currently, the workover rig has completed the intervention of the MN-11 well, the first planned for this campaign in Puli C Fields. This intervention involved the replacement of downhole equipment, including tubing, pump, and rods.

    This campaign, which includes at least four additional planned interventions in the Puli C Fields, aims to recover as much as 50 bopd and 600 kscfpd of gas.

    Additional information

    Further details about production performance are shown in the attached document. The graphs and tables illustrate both operated and equity production of oil and gas by country. “Operated production” refers to the total output from fields operated by Interoil, while “Equity production” refers to Interoil’s share of production, net of royalties.

    Note: This report complies with disclosure requirements outlined in sections 5-12 of the Norwegian Securities Trading Act.

    ***************************
    Please direct any further questions to ir@interoil.no
    Interoil Exploration and Production ASA is a Norwegian based exploration and production company – listed on the Oslo Stock Exchange with focus on Latin America. The Company is operator and license holder of several production and exploration assets in Colombia and Argentina with headquarter in Oslo.

    Attachment

    The MIL Network –

  • MIL-Evening Report: Nangs are popular with young people. But are they aware of the serious harms of nitrous oxide?

    Source: The Conversation (Au and NZ) – By Julaine Allan, Professor, Mental Health and Addiction, Rural Health Research Institute, Charles Sturt University

    Lenscap Photography/Shutterstock

    Nitrous oxide – also known as laughing gas or nangs – is cheap, widely available and popular among young people.

    Yet it often flies under the radar in public health programs and education settings. For example, it’s not included in the drug education curriculum in Australian schools.

    In our new study, we spoke to young people (aged 18 to 25) who have used nitrous oxide. We found they were are unaware of its risks – even when they reported symptoms such as “brain fog” and seizures.

    What is nitrous oxide?

    Nitrous oxide is regularly used for sedation and pain relief in dentistry and childbirth.

    The gas, which has no colour or flavour, is also used recreationally and is known as nangs, nos, whippits and balloons.

    In fact, nitrous oxide has been used to get intoxicated since its creation in 1722, and wasn’t used in surgery until 1842. It can create a feeling of dissociation from the body, changes in perception and euphoria. This lasts about one minute.

    In Australia, nitrous oxide is cheap and accessible. This is because the gas is also used in baking, for example to whip cream.

    So, while it’s not legal to sell nitrous oxide for recreational use, the canisters or “bulbs” are widely available online via 24-hour delivery services.

    People usually discharge the gas into a balloon or a whipped cream dispenser and then inhale. Nitrous oxide is intensely cold – minus 40 degrees Celsius.

    People inhale the gas using a balloon.
    Ink Drop/Shutterstock

    How common is it?

    We still don’t have much data about who uses nitrous oxide and how often. Compared to other drugs, there is minimal research on its recreational use.

    However researchers believe it is becoming more common globally, especially among young people.

    For example, in 2022, nitrous oxide was the second-most used controlled substance among 16–24 year olds in the United Kingdom after cannabis.

    In January 2023, the Netherlands banned the sale and possession of nitrous oxide after 1,800 road accidents, including 63 fatal crashes, were linked to the drug in a three-year period.

    The Global Drug Survey reported a doubling in nitrous oxide use between 2015 and 2021, from 10% of respondents to 20%. But this voluntary survey is not representative of all people who use drugs. While it is an indication of people’s nitrous oxide use, the picture remains patchy.

    What are the health risks?

    Nitrous oxide is not the most harmful drug people can use but that doesn’t make it safe.

    Inhaling nitrous oxide has short-term health risks, including:

    • cold burns from the gas

    • injuries from falling over

    • nausea and dizziness.

    Using a lot of nitrous oxide at one time can result in passing out (from lack of oxygen) and seizures. Calling an ambulance is necessary if this happens.

    Longer-term health problems may include:

    • vitamin B12 loss (causing numbness of hands and feet and eventually paralysis)

    • urinary incontinence

    • strokes

    • memory loss

    • mental health conditions, including depression and psychosis.

    The availability of much larger canisters (including flavoured varieties) is also linked to an increase in significant harms. These can deliver roughly 70 times the amount of nitrous oxide as traditional small canisters.

    Larger bulbs allow people to consume more of the gas at one time and they often experience health problems more quickly as a result.

    However, there is still limited knowledge about nitrous oxide in the health system. This means its health risks are often compounded because it is overlooked by those assessing medical conditions and because people deny using it.

    Large gas canisters mean people consume a lot more nitrous oxide in one go.
    joshua snow/Shutterstock

    Our research

    During the first stage of our 2025 Australian study, we interviewed seven young people (aged 18 to 25) who had used nitrous oxide at least ten times.

    While the number of interviewees was small, the stories they told were very similar.

    They were either unaware of, or unconcerned about, the drug’s potential risks. This is despite their own experiences of psychological and physical problems.

    They reported becoming unconscious, getting burns from the gas on their hands and faces, sores around the mouth and even having seizures.

    Of particular concern to us was use before driving because people did not recognise the lingering effects of the gas on concentration.

    Our study participants also spoke about “memory zaps” or “brain fog”. Regular use of nitrous oxide affected people’s ability to participate in work and study, with some saying it was also bad for their mental health.

    These thinking problems are a concerning side effect. Yet it’s one that has not been adequately investigated.

    The role of social media

    Videos of young people using nitrous oxide can easily be found on social media. This not only points to its popularity but suggests social media could be a good place to reach young people with information about the drug and harm reduction.

    In the second stage of our research we worked with 30 young people who used nitrous oxide to co-create harm reduction resources.

    As a group, we developed videos, photos and text for
    our nitrous oxide specific social media accounts on Tik Tok and Instagram and for posts on various sub-reddits.

    These describe ways to use the drug more safely. For example the “take a breath” messaging suggests breathing the nitrous oxide in for only ten seconds at a time to ensure enough oxygen. “Take a seat” advises sitting down while using nangs, to avoid injuries from falling.

    Julaine Allan receives funding from the National Health and Medical Research Council and the Commonwealth Department of Health and Aging to conduct research on substance use and mental health programs. She has received funding in the past from other state and commonwealth departments and entities for research.

    Helen Simpson, Jacqui Cameron, and Kenny Kor do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Nangs are popular with young people. But are they aware of the serious harms of nitrous oxide? – https://theconversation.com/nangs-are-popular-with-young-people-but-are-they-aware-of-the-serious-harms-of-nitrous-oxide-250654

    MIL OSI Analysis – EveningReport.nz –