Category: Energy

MIL-OSI: PrairieSky Announces Fourth Quarter and Year-End Results for 2024, Including Record Annual Oil Royalty Production and Increased Annual Dividend

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, Feb. 10, 2025 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company”) (TSX: PSK) is pleased to announce its fourth quarter and year-end operating and financial results for the period ended December 31, 2024. PrairieSky is also pleased to announce a 4% increase in its annual dividend policy to $1.04 per common share ($0.26 per common share quarterly).

Fourth Quarter Highlights:

Oil royalty production volumes averaged 13,317 barrels per day, a 4% increase over Q4 2023⁽¹⁾, driven by strong third-party activity in the Mannville Stack⁽²⁾ and Clearwater. Total royalty production averaged 24,982 BOE per day, a 2% decrease from Q4 2023 due to declines in natural gas and NGL production.
Royalty production revenue of $115.6 million combined with other revenue of $20.0 million to generate total revenues of $135.6 million for Q4 2024⁽¹⁾. Other revenue included bonus consideration of $15.8 million earned on entering into 60 new leasing arrangements focused on light and heavy oil targets across a number of different plays.
Funds from operations totaled $99.0 million or $0.41 per share, 11% below Q4 2023 primarily due to lower natural gas benchmark pricing.
Declared a fourth quarter dividend of $59.9 million ($0.25 per common share), representing a payout ratio of 61%.
Completed $31.5 million of both producing and non-producing royalty interest acquisitions primarily targeting light and heavy oil plays in Central Alberta and Saskatchewan. Acquisitions of producing assets (50 BOE per day) closed in late December 2024.

Annual Highlights:

Record annual oil royalty production volumes averaged 13,125 barrels per day, a 6% increase over YE 2023⁽¹⁾. Total royalty production averaged 25,186 BOE per day, a 1% increase over YE 2023 as higher oil royalty volumes were partially offset by lower natural gas and NGL royalty volumes due to shut-ins and declines related to weak benchmark natural gas pricing.
Royalty production revenue of $465.8 million combined with other revenue of $43.4 million to generate total revenues of $509.2 million for YE 2024⁽¹⁾. Other revenue included bonus consideration of $30.8 million earned on entering into 219 new leasing arrangements focused on light and heavy oil targets across a number of different plays.
Funds from operations totaled $380.5 million or $1.59 per share, 1% below YE 2023.
Corporate proved plus probable reserves totaled 63,653 MBOE relative to 65,762 MBOE at December 31, 2023. Proved plus probable oil reserves totaled 26,620 Mbbl, a 3.5% increase over the prior year primarily due to drilling extensions in the Clearwater, Duvernay and Mannville light and heavy oil plays.
Declared cumulative annual dividends of $239.0 million ($1.00 per common share), representing a payout ratio of 63%.
Completed $57.3 million of both producing and non-producing royalty interest acquisitions primarily targeting light and heavy oil plays in Central Alberta and Saskatchewan.
Net debt totaled $134.9 million as at December 31, 2024, a decrease of $87.2 million or 39% since December 31, 2023.

Dividend Increase:

PrairieSky is pleased to announce a 4% increase in its annual dividend policy to $1.04 per common share, to be paid on a quarterly basis ($0.26 per common share quarterly). Subject to the approval of the Board of Directors, the first quarterly dividend of $0.26 per common share is expected to be effective for the March 31, 2025 record date.

President’s Message

Oil royalty production averaged 13,317 barrels per day in Q4 2024 and drove funds from operations which totaled $99.0 million ($0.41 per share). These results capped off a strong 2024 with annual funds from operations of $380.5 million ($1.59 per share) and record annual oil royalty production of 13,125 barrels per day, a 6% increase over YE 2023. The growth in oil royalty volumes is a direct result of our strategy of investing in royalties in low-cost oil plays. For 2024, oil royalty production from the Clearwater and Mannville Stack plays represented 21% of total oil royalty production, up from 17% in 2023. The momentum in these plays is expected to continue into 2025 and beyond. We have also seen strong initial results from new wells on our West Shale Duvernay acreage as well as incremental well licensing, which we expect to provide growth in high netback light oil volumes in 2025.

Third-party operators spud 205 wells on PrairieSky’s royalty acreage during Q4 2024, an increase from 197 wells spud in Q4 2023. The average royalty rate for wells spud in the quarter was 6.2% (Q4 2023 – 7.2%). There were 46 wells spud in the Clearwater, a 5% increase over Q4 2023, with an additional 13 wells spud in the Mannville Stack in the quarter. This brought 2024 annual spuds on PrairieSky’s royalty properties to 741 wells, as compared to 805 wells in 2023, with an average royalty rate of 5.9% (2023 – 7.2%). Multi-lateral drilling continues to increase on our lands accounting for 77 of the spuds in the quarter and bringing 2024 annual multi-lateral drilling to 36% of the activity on our royalty lands versus 31% in YE 2023. Increased multi-lateral drilling activity helped drive the 3.5% increase in proved plus probable oil reserves to 26,620 Mbbl. Corporate proved plus probable reserves decreased to 63,653 MBOE primarily due to lower natural gas pricing impacting both the level of activity in 2024 and future economics.

Strong oil royalty volumes generated royalty revenue of $100.0 million and represented 87% of total royalty production revenue of $115.6 million for Q4 2024. Natural gas royalty production of 55.1 MMcf per day and NGL royalty production of 2,482 barrels per day decreased 9% and 8% in the quarter, respectively, as compared to Q4 2023 due to lower third-party drilling activity driven by weak natural gas benchmark pricing with daily AECO index pricing averaging $1.48 per Mcf. Natural gas royalty revenue totaled $6.3 million and NGL royalty revenue totaled $9.3 million in the quarter. Total royalty production averaged 24,982 BOE per day in Q4 2024, 2% lower than Q4 2023. PrairieSky’s annual total royalty production averaged 25,186 BOE per day, 1% ahead of YE 2023, and generated annual royalty production revenue of $465.8 million, 2% behind YE 2023.

Leasing continued to be busy across a number of oil plays including the Duvernay, Mannville and Mannville Stack. Our team issued 60 new leases to 47 separate counterparties and earned $15.8 million in lease bonus consideration in the quarter, which included non-cash consideration of $8.2 million for certain leases that were exchanged for a non-producing gross overriding royalty interest targeting Mannville heavy oil with polymer enhanced oil recovery⁽³⁾ potential. For YE 2024, lease bonus consideration totaled $30.8 million from issuing 219 new leases to 101 separate counterparties, the second highest number of leases issued in a single year as third-party operators looked to build out their drilling inventories.

In addition to active leasing in the quarter, PrairieSky acquired $31.5 million of incremental producing and non-producing royalty interests focused on heavy and light oil plays in Central Alberta and Saskatchewan. Acquisitions of producing assets, approximately 50 BOE per day, closed in late December 2024. PrairieSky also entered into an arrangement with a third-party operator to provide a letter of credit which secured their bank facility in order to provide capital to the operator to advance its Montney oil drilling program where PrairieSky has a royalty interest. The letter of credit is secured by a debenture over certain of the third-party operator’s assets. For YE 2024, acquisitions of producing and non-producing royalty properties totaled $57.3 million and were focused on heavy and light oil plays in Central Alberta and Saskatchewan. On January 10, 2025, PrairieSky completed an acquisition of fee lands, lessor interests and gross overriding royalty interests primarily in Central Alberta and Southeast Saskatchewan for cash consideration of $50 million, before customary closing adjustments. The acquisition is expected to add approximately 350 BOE per day of production (65% liquids).

PrairieSky declared a dividend of $0.25 per share or $59.9 million in the quarter with a resulting payout ratio of 61%. Excess funds from operations, after the payment of the dividend and acquisitions, were used to reduce PrairieSky’s net debt which totaled $134.9 million at December 31, 2024, a decrease of $87.2 million from December 31, 2023. During the quarter, PrairieSky amended its credit facility, voluntarily reducing it to $350 million from $725 million. The credit facility provides for a permitted increase up to $600 million, subject to lender consent. Management believes PrairieSky’s high margin, low-cost business model is uniquely suited to provide sustainable returns to shareholders through all commodity price cycles and we are pleased to announce a 4% increase to our annual dividend policy to $1.04 per common share annually ($0.26 per share quarterly). Subject to the approval of the Board of Directors, the first quarterly dividend of $0.26 per common share is expected to be effective for the March 31, 2025 record date.

The level of activity on our land base and cash flow generation underscores the benefits of our strategy of investing in low-cost oil plays and the optionality of owning fee mineral title acreage. I am very pleased with our 2024 annual results and the trajectory of the business. I would like to thank our staff for their hard work throughout the year and our shareholders for their continued support.

Andrew Phillips, President & CEO

ACTIVITY ON PRAIRIESKY’S ROYALTY PROPERTIES

Third-party operators continued to be active across PrairieSky’s land base in Q4 2024. There were 205 wells spud (97% oil wells) in the quarter which included 114 wells on GORR acreage, 80 wells on Fee Lands, and 11 unit wells. There were a total of 198 oil wells spud during the quarter which included 55 Mannville light and heavy oil wells, 46 Clearwater wells, 28 Viking wells, 22 Mississippian wells, 17 Bakken wells and 30 additional oil wells spud in the Belly River, Cardium, Charlie Lake, Devonian, Duvernay, Montney, Nisku, and Triassic formations. There were 3 Montney natural gas wells spud in Q4 2024 as well as additional gas wells in the Mannville and Viking formations. PrairieSky’s average royalty rate for wells spud in Q4 2024 was 6.2% (Q4 2023 – 7.2%). 2024 annual spuds on PrairieSky’s royalty properties totaled 741 wells, as compared to 805 wells in 2023, with an average royalty rate of 5.9% (2023 – 7.2%).

For YE 2024, PrairieSky estimates that $1.9 billion (net – $93 million) in third-party capital was spent drilling and completing wells on PrairieSky’s royalty properties, a decrease from $2.0 billion (net capital – $112 million) in YE 2023. Activity on PrairieSky’s lands drove a 3.5% increase in proved plus probable oil reserves as discussed further below.

ANNUAL DIVIDEND INCREASED 4% TO $1.04 PER SHARE

PrairieSky is pleased to announce a 4% increase in its annual dividend policy to $1.04 per common share in 2025, to be paid on a quarterly basis. Subject to the approval of the Board of Directors, the first quarterly dividend of $0.26 per common share is expected to be effective for the March 31, 2025 record date. In determining changes to the dividend policy, the Board of Directors considers a number of factors including current and projected activity levels on PrairieSky’s royalty lands, the current commodity price environment, the working capital and bank debt balance and net earnings of the Company.

2024 RESERVES INFORMATION

PrairieSky’s proved plus probable oil reserves increased 3.5% to 26,620 MBOE at December 31, 2024, as drilling extensions and improved recoveries outpaced annual production. PrairieSky’s corporate proved plus probable reserves totaled 63,653 MBOE at December 31, 2024 (December 31, 2023 – 65,762 MBOE). Proved plus probable reserves decreased from 2023, with positive year over year changes to oil reserves outpaced by declines in natural gas and NGL reserves, primarily as a result of lower natural gas pricing impacting both activity on the royalty properties in 2024 and the future economics of certain natural gas plays using the pricing assumptions at December 31, 2024. The increase in oil proved plus probable reserves drove a 5% increase in the before-tax net present value of total proved plus probable reserves, discounted at 10%, to $1.93 billion (2023 – $1.84 billion). Changes to proved plus probable reserves comprised of additions related to third-party drilling and improved recovery (7,131 MBOE), technical additions (624 MBOE) and acquisitions (205 MBOE) less 2024 royalty production volumes of 9,218 MBOE and economic factors (851 MBOE). PrairieSky’s proved plus probable reserves include only developed assets (developed producing and developed non-producing properties) and do not include any future development capital on undeveloped lands.

PrairieSky’s YE 2024 reserves were evaluated by independent reserves evaluators GLJ Ltd. The evaluation of PrairieSky’s royalty properties was done in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities. PrairieSky’s reserves information is included in the Company’s Annual Information Form for the year ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

2025 INVESTOR DAY

PrairieSky will be hosting an investor day on May 14, 2025, in Calgary, Alberta, where members of PrairieSky’s management team will present details on the Company’s oil and natural gas plays. The investor day will be webcast starting at 9:30 a.m. MDT (11:30 a.m. EDT). Interested parties may participate in the webcast which will be available through PrairieSky’s investor center at www.prairiesky.com. The webcast will be archived and accessible for replay after the event.

NOTES AND REFERENCES

(1) In this press release, the financial reporting periods are referred to as follows: “Q4 2024” or “the quarter” refers to the three months ended December 31, 2024; “YE 2024” or “the year” refers to the year ended December 31, 2024; “Q4 2023” and “YE 2023” refer to the three months and year ended December 31, 2023, respectively.

(2) For further details on the “Mannville Stack”, we refer you to PrairieSky’s most recent Corporate Presentation contained on PrairieSky’s website at www.prairiesky.com.

(3) “enhanced oil recovery” means the extraction of additional crude oil, natural gas, and related substances from reservoirs through a production process other than natural depletion; includes both secondary and tertiary recovery processes such as pressure maintenance, cycling, waterflooding, thermal methods, chemical flooding, and using miscible and immiscible displacement fluids.

Unless otherwise indicated or the context otherwise requires, terms used in this press release but not defined above are as defined in in the Company’s Annual Information Form for the year ended December 31, 2024 which is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

FINANCIAL AND OPERATIONAL INFORMATION

The following table summarizes select operational and financial information of the Company for the periods noted. All dollar amounts are stated in Canadian dollars unless otherwise noted.

A full version of PrairieSky’s management’s discussion and analysis (“MD&A”) and annual audited consolidated financial statements and notes thereto for the fiscal period ended December 31, 2024 is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

	Three months ended						Year ended
	December 31		September 30		December 31		December 31		December 31
($ millions, except per share or as otherwise noted)	2024		2024		2023		2024		2023
FINANCIAL
Revenues	135.6		117.3		136.6		509.2		513.2

Funds from operations	99.0		92.4		111.1		380.5		382.5
Per share – basic and diluted⁽¹⁾	0.41		0.39		0.46		1.59		1.60

Net earnings	60.2		47.3		67.4		215.3		227.6
Per share – basic and diluted⁽¹⁾	0.25		0.20		0.28		0.90		0.95

Dividends declared⁽²⁾	59.9		59.7		57.3		239.0		229.2
Per share	0.25		0.25		0.24		1.00		0.96

Dividend payout ratio⁽³⁾	61	%	65	%	52	%	63	%	60	%

Acquisitions – including non-cash consideration⁽⁴⁾	31.5		4.7		22.2		57.3		58.4
Net debt⁽⁵⁾	134.9		149.6		222.1		134.9		222.1

Shares outstanding
Shares outstanding at period end	239.0		239.0		239.0		239.0		239.0
Weighted average – basic and diluted	239.0		239.0		239.0		239.0		239.0

OPERATIONAL
Royalty production volumes
Crude oil (bbls/d)	13,317		12,733		12,844		13,125		12,438
NGL (bbls/d)	2,482		2,189		2,697		2,378		2,502
Natural gas (MMcf/d)	55.1		57.0		60.4		58.1		59.5
Royalty Production (BOE/d)⁽⁶⁾	24,982		24,422		25,608		25,186		24,857

Realized pricing
Crude oil ($/bbl)	81.66		85.90		83.27		84.12		82.52
NGL ($/bbl)	40.68		41.10		46.07		43.28		47.60
Natural gas ($/Mcf)	1.23		0.50		2.19		1.13		2.60
Total ($/BOE)⁽⁶⁾	50.30		49.63		51.78		50.53		52.31

Operating netback per BOE⁽⁷⁾	45.86		46.65		48.68		45.82		46.32

Funds from operations per BOE	43.07		41.12		47.16		41.28		42.16

Oil price benchmarks
West Texas Intermediate (WTI) (US$/bbl)	70.27		75.10		78.32		75.72		77.62
Edmonton light sweet ($/bbl)	94.90		97.77		99.72		97.55		100.46
Western Canadian Select (WCS) crude oil differential to WTI (US$/bbl)	(12.55	)	(13.55	)	(21.89	)	(14.76	)	(18.65	)

Natural gas price benchmarks
AECO Monthly Index ($/Mcf)	1.46		0.81		2.66		1.44		2.93
AECO Daily Index ($/Mcf)	1.48		0.69		2.30		1.46		2.64

Foreign exchange rate (US$/CAD$)	0.7147		0.7341		0.7343		0.7299		0.7410
(1) Funds from operations and net earnings per share are calculated using the weighted average number of basic and diluted common shares outstanding. (2) A dividend of $0.25 per share was declared on December 3, 2024. The dividend was paid on January 15, 2025 to shareholders of record as at December 31, 2024. (3) Dividend payout ratio is defined under the “Non-GAAP Measures and Ratios” section of this press release. (4) Excluding right-of-use asset additions. (5) See Note 16 “Capital Management” in the annual audited consolidated financial statements for the years ended December 31, 2024 and 2023 and Note 14 “Capital Management” in the interim condensed consolidated financial statements for the three and nine months ended September 30, 2024 and 2023. (6) See “Conversions of Natural Gas to BOE”. (7) Operating netback per BOE is defined under the “Non-GAAP Measures and Ratios” section of this press release.

CONFERENCE CALL DETAILS

A conference call to discuss the results will be held for the investment community on Tuesday, February 11, 2025, beginning at 6:30 a.m. MST (8:30 a.m. EST). To participate in the conference call, you are asked to register at one of the links provided below. Details regarding the call will be provided to you upon registration.

Live call participant registration
URL: https://register.vevent.com/register/BIec7e34fab05745059bfbdddfab97dbdb

Live webcast participant registration (listen in only)
URL: https://edge.media-server.com/mmc/p/xfyj3o3u

FORWARD-LOOKING STATEMENTS

This press release includes certain forward-looking information and forward-looking statements (collectively, “forward-looking statements”) which may include, but are not limited to PrairieSky’s future plans, current expectations and views of future operations and contains forward-looking statements that the Company believes allow readers to better understand the Company’s business and prospects. The use of any of the words “expect”, “expected to”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends”, “strategy” and similar expressions (including negative variations) are intended to identify forward-looking information or statements. Forward-looking statements contained in this press release include, but are not limited to, estimates regarding our expectations with respect to PrairieSky’s business and growth strategy and trajectory, including the benefits of the Company’s strategy of investing in low-cost oil plays and the optionality of owning fee mineral title acreage, the expectation that the production growth momentum in the Clearwater and Mannville Stack heavy oil plays will continue, the expectation that incremental well licensing in the Duvernay play will provide growth in high netback light oil volumes in 2025 and the expectation that, subject to approval of the Board of Directors, PrairieSky will declare a quarterly dividend of $0.26 per common share for shareholders of record on March 31, 2025.

With respect to forward-looking statements contained in this press release, PrairieSky has made several assumptions including those described in detail in our MD&A and the Annual Information Form for the year ended December 31, 2024. Readers and investors are cautioned that the assumptions used in the preparation of such forward-looking information and statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. PrairieSky’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. PrairieSky can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits the Company will derive from them.

By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond PrairieSky’s control, including the impact of general economic conditions including inflation, industry conditions, volatility of commodity prices, lack of pipeline capacity, currency fluctuations, increasing interest rates, imprecision of reserve estimates, competitive factors impacting royalty rates, environmental risks, taxation, regulation, changes in tax or other legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility, political and geopolitical instability, the imposition of any tariffs or other restrictive trade measures or countermeasures affecting trade between Canada and the United States and the Company’s ability to access sufficient capital from internal and external sources. In addition, PrairieSky is subject to numerous risks and uncertainties in relation to acquisitions. These risks and uncertainties include risks relating to the potential for disputes to arise with counterparties, and limited ability to recover indemnification under certain agreements. The foregoing and other risks, uncertainties and assumptions are described in more detail in PrairieSky’s MD&A, and the Annual Information Form for the year ended December 31, 2024 under the headings “Risk Management” and “Risk Factors”, respectively, each of which is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

Further, any forward-looking statement is made only as of the date of this press release, and PrairieSky undertakes no obligation to update or revise any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable securities laws. New factors emerge from time to time, and it is not possible for PrairieSky to predict all of these factors or to assess, in advance, the impact of each such factor on PrairieSky’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

CONVERSIONS OF NATURAL GAS TO BOE

To provide a single unit of production for analytical purposes, natural gas production and reserves volumes are converted mathematically to equivalent barrels of oil (BOE). PrairieSky uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). The 6:1 BOE ratio is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead and is not based on either energy content or current prices. While the BOE ratio is useful for comparative measures and observing trends, it does not accurately reflect individual product values and might be misleading, particularly if used in isolation. As well, given that the value ratio, based on the current price of crude oil to natural gas, is significantly different from the 6:1 energy equivalency ratio, using a 6:1 conversion ratio may be misleading as an indication of value.

NON-GAAP MEASURES AND RATIOS

Certain measures and ratios in this document do not have any standardized meaning as prescribed by IFRS and, therefore, are considered non-GAAP measures and ratios. These measures and ratios may not be comparable to similar measures and ratios presented by other issuers. These measures and ratios are commonly used in the oil and natural gas industry and by PrairieSky to provide potential investors with additional information regarding the Company’s liquidity and its ability to generate funds to conduct its business. Non-GAAP measures and ratios include operating netback per BOE and dividend payout ratio. Management’s use of these measures and ratios is discussed further below. Further information can be found in the Non-GAAP Measures and Ratios section of PrairieSky’s MD&A for the year ended December 31, 2024 and 2023.

“Operating netback per BOE” represents the cash margin for products sold on a BOE basis. Operating netback per BOE is calculated by dividing the operating netback (royalty production revenue less production and mineral taxes and cash administrative expenses) by the average daily production volumes for the period. Operating netback per BOE is used to assess the cash generating and operating performance per unit of product sold and the comparability of the underlying performance between years. Operating netback per BOE measures are commonly used in the oil and natural gas industry to assess performance comparability. Refer to the Operating Results table on page 7 of PrairieSky’s MD&A for the year ended December 31, 2024 and 2023 and page 7 of PrairieSky’s MD&A for the three and nine months ended September 30, 2024 and 2023.

	Three months ended						Year ended
	December 31		September 30		December 31		December 31		December 31
($ millions)	2024		2024		2023		2024		2023
Cash from operating activities	91.3		109.6		128.0		379.9		318.9
Other revenue	(20.0	)	(5.8	)	(14.6	)	(43.4	)	(38.6	)
Other revenue – non-cash	8.2		–		–		8.2		0.5
Amortization of debt issuance costs	(0.2	)	(0.1	)	(0.1	)	(0.5	)	(0.4	)
Finance expense	2.3		2.7		3.9		12.2		17.5
Current tax expense	16.2		15.6		14.4		65.5		58.8
Interest on lease obligation	(0.1	)	–		–		(0.1	)	–
Net change in non-cash working capital	7.7		(17.2	)	(16.9	)	0.6		63.6
Operating netback	105.4		104.8		114.7		422.4		420.3

“Operating Margin” represents operating netback as a percentage of royalty production revenue. Management uses this measure to demonstrate the comparability between the Company and production and exploration companies in the oil and natural gas industry as it shows net revenue generation from operations.

	Three months ended						Year ended
	December 31		September 30		December 31		December 31		December 31
($ millions)	2024		2024		2023		2024		2023
Royalty production revenue	115.6		111.5		122.0		465.8		474.6
Operating netback	105.4		104.8		114.7		422.4		420.3
Operating margin	91	%	94	%	94	%	91	%	89	%

“Dividend payout ratio” is calculated as dividends declared as a percentage of funds from operations. Payout ratio is used by dividend paying companies to assess dividend levels in relation to the funds generated and used in operating activities.

	Three months ended						Year ended
	December 31		September 30		December 31		December 31		December 31
($ millions, except otherwise noted)	2024		2024		2023		2024		2023
Funds from operations	99.0		92.4		111.1		380.5		382.5
Dividends declared	59.9		59.7		57.3		239.0		229.2
Dividend payout ratio	61	%	65	%	52	%	63	%	60	%

ABOUT PRAIRIESKY ROYALTY LTD.

PrairieSky is a royalty company, generating royalty production revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating funds from operations and that represent the largest and most consolidated independently-owned fee simple mineral title position in Canada. PrairieSky’s common shares trade on the Toronto Stock Exchange under the symbol PSK.

FOR FURTHER INFORMATION PLEASE CONTACT:

Andrew M. Phillips
President & Chief Executive Officer
PrairieSky Royalty Ltd.
(587) 293-4005

Michael T. Murphy
Vice-President, Geosciences & Capital Markets
PrairieSky Royalty Ltd.
(587) 293-4056

Investor Relations
(587) 293-4000
www.prairiesky.com

Pamela P. Kazeil
Senior Vice-President, Finance & Chief Financial
Officer
PrairieSky Royalty Ltd.
(587) 293-4089

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The MIL Network –

February 11, 2025

MIL-OSI USA: Governor McKee Updates Rhode Islanders on State’s Readiness for Upcoming Winter Storm
Source: US State of Rhode Island
Published on Saturday, February 08, 2025

PROVIDENCE, RI – Today, Governor McKee shared an overview of the State’s preparations for the upcoming winter storm expected to begin tonight.

“Rhode Island is fully prepared to respond to the upcoming storm and keep residents safe. We have all necessary resources in place and remain in contact with local communities,” said Governor Dan McKee. “I urge all Rhode Islanders to prepare now and use extreme caution during the snowfall.”

McKee Administration Preparations:
- The Rhode Island Department of Transportation (RIDOT) will have their crews report for duty well ahead of the storm. RIDOT has 200 state trucks and more than 250 vendor trucks ready for the storm. RIDOT also has 50,000 tons of salt available for the roads which have already been pre-treated.
- The Office of Energy Resources is in close contact with Rhode Island Energy (RIE) and the state’s delivered fuel terminals to closely monitor the incoming storm system and its impact on power and fuel supplies across the state. RIE will have additional utility crews standing by.
- The following emergency winter hubs, activated through the Department of Housing’s Municipal Homelessness Support Initiative, will provide additional, overnight capacity to help keep Rhode Islanders safe on a drop-in basis, meaning no referral is needed to enter the hubs:
  
  West Warwick: West Warwick Convention Center, 100 Factory Street –Opening Saturday, February 8 at 4:30 p.m. until 10 a.m. on Tuesday, February 11
  
  Westerly: WARM Center, 56 Spruce Street – Open 24 hours for the winter months
  
  Woonsocket: 356 Clinton Street – Open 24 hours for the winter months
  
  In addition to these emergency hubs, the following existing overnight shelter locations are expanding on a drop-in basis for those in need:
  
  Crossroads Rhode Island: 162 Broad Street, Providence
  
  Emmanuel House: 239 Public St, Providence – Open 24 hours
  
  Welcome House of South County: 8 North Road, Peace Dale (South Kingstown) – Open 24 hours
  
  OpenDoors: 1139 Main Street, Pawtucket – Open 24 hours
- Rhode Island Emergency Management Agency will monitor storm activities throughout the weekend with their state and local partners. They remain in close communication with local emergency management departments to ensure communities have the necessary supports in place. Find a list of local warming centers here: riema.ri.gov/planning-mitigation/resources-businesses/warming-centers.
- Rhode Island State Police has called in extra troopers who will be monitoring the highways and assisting motorists if needed.
- The Rhode Island Department of Health recommends to following tips for Rhode Islanders to stay safe:
  
  Consider checking in with older family, friends, and neighbors. Older adults are more at risk for negative health impacts from significant weather events.
  
  Shovel safely. Do not overexert yourself while shoveling snow. If you have a history of heart trouble, talk to your doctor to make sure it is safe for you to shovel snow. Drink plenty of water, dress warmly, and warm up the muscles in your arms and legs before you start shoveling. Don’t pick up too much snow at once. Instead of throwing the snow, try to push it in the direction you want. This helps protect your back. Listen to your body—if you feel tired or feel tightness in your chest, stop shoveling.
  
  Prevent slips and falls. De-ice the sidewalk, driveway, and any well-traveled areas outside your home.
MIL OSI USA News –
February 11, 2025
MIL-OSI Asia-Pac: Fourth India-UK Energy Dialogue- Advancing India’s energy transition held in New Delhi today

Source: Government of India

Fourth India-UK Energy Dialogue- Advancing India’s energy transition held in New Delhi today

Phase-2 of the India-UK bilateral Accelerating Smart Power & Renewable Energy in India (ASPIRE) programme announced

Posted On: 10 FEB 2025 8:44PM by PIB Delhi

The Fourth India-UK Energy Dialogue, co-chaired by Shri Manohar Lal, Union Minister of Power and Housing and Urban Affairs of India, and Mr. Ed Miliband, Secretary for Energy Security and Net Zero for United Kingdom, was held today in New Delhi.

The dialogue focused on reviewing progress made in the energy sectors of both nations, including power and renewable energy, and reaffirming the commitment to a sustainable, resilient, and inclusive energy future. The Ministers underscored the importance of ensuring that the energy transition and economic growth proceed together, while maintaining affordable and clean energy access for all.

The Ministers underscored the importance of ensuring energy security and sustainable development and emphasized expanding the cooperation in the areas of power distribution, sector reforms, industrial energy efficiency and de-carbonization, and electric mobility while exploring new opportunities in the emerging fields such as energy storage, green data centers, and offshore wind, with an increased focus on MSMEs.

The Ministers were pleased to announce the launch of Phase-2 of the India-UK bilateral Accelerating Smart Power & Renewable Energy in India (ASPIRE) programme. This phase will aim to provide technical support for ensuring round-the-clock power supply, expanding renewable energy initiatives, and accelerating industrial energy efficiency and de-carbonization, in collaboration with the Ministry of Power (MOP) and Ministry of New and Renewable Energy (MNRE).

The Ministers were pleased to observe the bilateral collaboration between the two sides to promote growth and jobs, through technical assistance cooperation and investment. They also discussed the progress of trade missions focusing on offshore wind and green hydrogen, as well as the cooperation between the UK’s Energy Systems Catapult and India’s Power Trading Corporation.

Recognizing the shared ambition for advancing offshore wind development, the Ministers announced the establishment of a UK-India Offshore Wind Taskforce, which will focus on advancing offshore wind ecosystem development, supply chains, and financing models in both countries. Mr. Miliband commended India’s ambitious initiatives in the renewable energy sector and shown a strong interest in gaining insights from India’s experience in implementing the Solar Rooftop Programme (PM – Surya Ghar Muft Bijli Yojna).

The Ministers agreed on the importance of power market regulations in driving the energy transition and ensuring greater energy security and access. To support this, they announced the continuation of the Power Sector Reforms programme under the UK Partnering for Accelerating Climate Change (UKPACT). Additionally, a new taskforce has been proposed between the UK’s Office of Gas and Electricity Markets (OFGEM) and India’s Central Electricity Regulatory Commission (CERC) to support renewable energy integration and grid transformation in India.

Both Ministers emphasized the ongoing value of the India-UK Energy Dialogue in advancing mutual energy transition goals, ensuring energy access, and building secure and sustainable clean energy supply chains while aligning these efforts with economic growth.

The Ministers expressed their intention to further strengthen their collaboration through the Comprehensive Strategic Partnership and looked forward to the fifth UK-India Energy Dialogue in 2026. The dialogue concluded with the launch of the ‘Best Practices Compendium of Industrial Energy Efficiency/Decarbonisation’ and a ‘Pathways for Energy Efficiency and Decarbonisation in the Indian Aluminium Sector’.

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JN/ SK

(Release ID: 2101542) Visitor Counter : 44

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: Union Minister of Agriculture and Farmers’ Welfare Shri Shivraj Singh Chouhan approves extension of Groundnut procurement in Gujarat by 6 days & in Karnataka by 25 days

Source: Government of India

Union Minister of Agriculture and Farmers’ Welfare Shri Shivraj Singh Chouhan approves extension of Groundnut procurement in Gujarat by 6 days & in Karnataka by 25 days

Soyabean procurement extended in Maharashtra by 24 days & in Telangana by 15 days as per instructions of Shri Shivraj Singh Chouhan

Government of India approves continuation of PM-AASHA

PM-AASHA to be continued during 15th Finance Commission Cycle up to 2025-26

Government has allowed the procurement of Tur, Urad and Masur under PSS equivalent to 100% of the production of the State for the procurement year 2024-25.

Posted On: 10 FEB 2025 6:37PM by PIB Delhi

The Government of India approved the continuation of the integrated Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA) Scheme during the 15th Finance Commission Cycle up to 2025-26. Integrated Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) Scheme comprises Price Support Scheme (PSS), Price Deficiency Payment Scheme (PDPS), Market Intervention Scheme (MIS) and Price Stabilisation Funds (PSF). Department of Agriculture & Farmers’ Welfare (DA&FW) administers PSS, PDPS and MIS whereas Department of Consumer Affairs administers PSF. The integrated PM-AASHA Scheme is administered to bring-in more effectiveness in the implementation of procurement operations that would not only help in providing remunerative prices to the farmers for their produce but also control the price volatility of essential commodities by ensuring their availability at affordable prices to consumers.

Under the Price Support Scheme, the procurement of the notified Pulses, Oilseeds and Copra conforming to the prescribed Fair Average Quality (FAQ) is undertaken by the Central Nodal Agencies (CNAs) at the MSP directly from the pre-registered farmers through the State level agencies.

The Government approved the procurement of Soyabean under the Price Support Scheme (PSS) in the States of Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra Rajasthan and Telangana for Kharif 2024-25. A quantity of 19.99 LMT of Soyabean has been procured till 9th February, 2025 benefitting 8,46,251 farmers. Further Minister of Agriculture and farmers’ welfare Shri Shivraj Singh Chouhan has approved the proposal to extend the period of procurement in Maharashtra by 24 days and in Telangana by 15 days beyond the normal procurement period of 90 days keeping the interest of farmers of the state.

Similarly, the Government approved the procurement of Groundnut under the Price Support Scheme (PSS) in the States of Andhra Pradesh, Chhattisgarh, Gujarat, Haryana Karnataka, Rajasthan and Uttar Pradesh for Kharif 2024-25. A quantity of 15.73 LMT of Groundnut has been procured till 9th February, 2025 benefitting 4,75,183 farmers. Further, Minister of Agriculture and farmers’ welfare Shri Shivraj Singh Chouhan has approved the proposal to extend the period of procurement of Groundnut in Gujarat by 6 days and in Karnataka by 25 days beyond the normal procurement period of 90 days in the interest of farmers of the state.

Further, to incentivize the farmers contributing to enhancement of domestic production of pulses and to reduce the dependence on imports, the Government has allowed the procurement of Tur, Urad and Masur under PSS equivalent to 100% of the production of the State for the procurement year 2024-25. The Government has also made an announcement in Budget 2025 that procurement of Tur, Urad and Masur up to 100% of the production of the State will be continued for another four years through Central Nodal Agencies to achieve self- sufficiency in pulses in the country.

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MG/ KSR

(Release ID: 2101441) Visitor Counter : 81

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: Union Minister Dr. Jitendra Singh today launched India’s first indigenous Automated Bio Medical Waste Treatment Plant at AIIMS New Delhi.

Source: Government of India (2)

Union Minister Dr. Jitendra Singh today launched India’s first indigenous Automated Bio Medical Waste Treatment Plant at AIIMS New Delhi.

The Automated Biomedical Waste Treatment Rig, named “Sṛjanam,” was officially dedicated to the nation:

1st of its kind indigenously developed Automated Bio Medical Waste Treatment Rig has been developed by CSIR NIIST Thiruvananthapuram:

“India’s New Eco-Friendly Technology Biomedical Waste Solution Set to Transform Healthcare Waste Disposal” says Science and Technology Minister Dr. Singh

Dr. Jitendra Singh Showcases Govt’s First 100 Days Vision with Record-Breaking Investments in Science and Technology

Posted On: 10 FEB 2025 6:12PM by PIB Delhi

Union Minister Dr. Jitendra Singh today launched India’s first indigenous Automated Bio Medical Waste Treatment Plant at AIIMS New Delhi.

The Automated Biomedical Waste Treatment Rig, named “Sṛjanam,” was officially dedicated to the nation by the Minister at a ceremony held in the AIIMS auditorium. Following the ceremony, he, accompanied by Director General of CSIR Dr. N. Kalaiselvi and Director of AIIMS Dr. M. Srinivas, walked to the site within the AIIMS premises where the machinery had been installed and formally switched it on.

This innovative, environmentally friendly technology, developed by CSIR-NIIST (National Institute for Interdisciplinary Science and Technology), offers a significant advancement in the sustainable management of biomedical waste.

Speaking on the Commissioning, Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh called for a paradigm shift from ‘Waste to Wealth’ and emphasized the importance of sustainability and environmental concerns. He noted that India’s economy has transitioned from being part of the fragile five to a member of the First Five and is poised for continued growth. He highlighted the significance of the new biomedical waste treatment rig, which is set to revolutionize waste management in healthcare facilities.

The “Sṛjanam” rig can disinfect pathogenic biomedical waste such as blood, urine, sputum, and laboratory disposables, without the use of costly and energy-intensive incinerators. Additionally, the rig imparts a pleasant fragrance to the otherwise foul-smelling toxic waste. With a daily capacity of 400 kg, the equipment is capable of handling 10 kg of degradable medical waste per day in the initial phase. Once validated, this technology will be ready for full-scale implementation after receiving approval from relevant authorities.

With the growing demand for better waste disposal solutions, the “Sṛjanam” rig offers a safer and more efficient approach, eliminating the risks associated with human exposure to harmful waste and minimizing the chances of spills and accidents. The technology has been third-party validated for its antimicrobial action, and studies have shown that the treated material is safer than organic fertilizers like vermicompost.

Dr. Jitendra Singh lauded CSIR-NIIST for its innovative and cost-effective solution to dispose of pathogenic biomedical waste in an eco-friendly manner. He referenced the 2023 annual report of the Central Pollution Control Board (CPCB), which indicated that India generates 743 tonnes of biomedical waste daily, presenting a significant challenge in its safe and proper disposal. The new technology addresses this issue and presents an environmentally responsible alternative to traditional incineration methods.

Dr. Jitendra Singh further explained that improper segregation, open dumping, open burning, and inadequate incineration of biomedical waste lead to severe health hazards, including the release of carcinogens and particulate matter. He emphasized the need for effective waste management to prevent the spread of infectious diseases and reduce the risk of antimicrobial resistance.

Dr. Jitendra Singh also acknowledged the efforts of Prime Minister Narendra Modi, whose leadership continues to drive India’s progress in science, technology, and green initiatives. He praised Shri. Tanmay Kumar, Secretary, Ministry of Environment, Forest, and Climate Change (MoEFCC), for his prompt actions in securing the necessary clearances for this project.

In his address, Dr. Singh mentioned other technological milestones achieved by India, including the first indigenous DNA vaccine, the development of India’s first HPV vaccine to combat cervical cancer, and rapid advancements in space technology. He also highlighted India’s breakthrough in pharmaceuticals with the creation of the indigenous antibiotic ‘Nafithromycin’ and India’s first gene therapy trial for hemophilia, supported by the Department of Biotechnology (DBT).

Vice-President of CSIR, Dr. Jitendra Singh, recalled the ‘One Week One Lab’ initiative, which aims to raise awareness about CSIR’s groundbreaking projects, such as the first hydrogen buses developed by NCL Pune, off-season tulips developed by CSIR Palampur, the 108-petal lotus, and more.

The Science and Technology Minister also emphasized the priorities of the government during its first 100 days, which include the approval of India’s first Bio E3 policy, the sanctioning of 1000 crores for Viability Gap funding for space startups, 2000 crores for Mission Mausam, and 50,000 crores for the Anusandhan National Research Foundation (NRF). Furthermore, he highlighted the recent Union Budget, which proposes 20,000 crores for Bharat Small Modular Reactors (SMRs).

Dr. Jitendra Singh concluded by urging for increased academic collaboration between institutions and proposed making postgraduate students co-guides in exchange programs, fostering synergy and shared learning. He emphasized the government’s unwavering support for science, technology, and innovation under the leadership of PM Modi. He said “This initiative aligns with the government’s vision of a “Viksit Bharat” by 2047, and with continued progress in innovation and sustainable technologies, India is set to become a global leader in environmental and healthcare solutions”.

The ceremony was attended by distinguished dignitaries including Dr. V. K. Paul, Member, Niti Aayog, Dr. Rajiv Bahl, Secretary, DHR and DG, ICMR, Tanmay Kumar IAS, Secretary MoEFCC, Dr. N. Kalaiselvi, Secretary DSIR and DG, CSIR, and Dr. M. Srinivas, Director, AIIMS.

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NKR/PSM

(Release ID: 2101416) Visitor Counter : 50

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Europe: EIB Group President Calviño in Kyiv on first official visit outside EU to announce new major projects for critical energy infrastructure, basic services for citizens and investment in SMEs across Ukraine
Source: European Investment Bank
- The EIB President is leading the EIB delegation to Ukraine on her first visit outside the EU since taking up office last year.
- Calviño stressed the EIB Group’s long-term commitment to Ukraine in talks with the government and business leaders in Kyiv.
- The projects announced under EU’s €50 billion Ukraine Facility include €420 million in investment for the public sector to restore and protect energy supplies, and for water, heating, housing and other critical infrastructure.
- The support also includes new loan and guarantees for SMEs, unlocking almost €500 million of new finance.
- The EU 112 emergency call system will be rolled out in Ukraine with EIB backing.
- A €16.5 million grant provided by the German Ministry for Economic Affairs and Climate Action to an EIB International Climate Initiative Trust Fund has been signed for renewable energy in Ukraine.
- There are plans for close cooperation to advance social housing in the country.
On her first official visit outside the European Union since taking up office a year ago, European Investment Bank (EIB) Group President Nadia Calviño is visiting Kyiv today to meet top Ukrainian officials, including President Volodymyr Zelenskyy and Prime Minister Denys Shmyhal. The objective of the visit is to agree on new financing operations for Ukraine and stress Europe’s long-term commitment to the country. President Calviño is leading the delegation that also features EIB Vice-President Teresa Czerwińska and EU Ambassador to Ukraine Katarína Mathernová.

The package – part of the European Union’s €50 billion Ukraine Facility – includes €420 million for new public-sector projects to restore and protect energy supplies, heating systems and other critical infrastructure that has been damaged since Russia’s full-scale invasion in February 2022. The EIB and the European Commission are set to finalise the approval of a €2 billion EIB contribution under the Facility.

The latest round of European funding announced today will also benefit Ukraine’s private sector, with the aim of bolstering thousands of small and medium-sized enterprises (SMEs), which form the backbone of the country’s economy. It combines a €100 million loan and guarantees aimed at unlocking around €400 million in lending to SMEs through key Ukrainian banks – including Ukreximbank, ProCredit Bank and Ukrgasbank – with which the EIB has signed agreements today.

Another element of the package is the planned rollout of the European Union’s common 112 emergency number and call system across Ukraine to enhance public safety. President Calviño visited an operating centre in Kyiv that will run the new system to mark the signing of a €40 million EIB loan for the initiative, which is complemented by a €12 million EU grant and funding from Member States under the EU for Ukraine Fund.

“This is my first official visit outside the European Union since taking up office as President of the EIB Group last year. Support for Ukraine is a top priority and that is why I am so pleased to be here to announce new major projects for SMEs, energy, water and other essential services that will help people to continue with their daily lives and support the country’s economic resilience, while also laying the foundation for a stronger Ukraine on its path to EU membership,” said EIB Group President Nadia Calviño.”

“The financing package that we have announced reflects our ongoing and unwavering commitment, since the very first day of this war, to help Ukraine recover, rebuild, and thrive despite the immense challenges it faces. This is a joint effort of Team Europe made possible through close collaboration with the European Commission and EU Member States,” added EIB Vice-President Teresa Czerwińska, who oversees the Bank’s operations in Ukraine.

“This support package, developed with the EIB, further demonstrates the European Union’s unwavering commitment to Ukraine’s recovery and reconstruction. With the Ukraine Facility, we are restoring vital infrastructure and helping businesses grow – crucial projects as Ukraine defends itself against Russian aggression. Together, we will continue to support Ukraine, working on key areas, such as energy, housing, and public safety to build a stronger and more sustainable future,” said EU Ambassador to Ukraine Katarína Mathernová.

Today, four projects worth €420 million were announced under the EU’s Ukraine Facility. They will help to restore critical infrastructure and services and ensure a stable energy supply. The projects include the €100 million “Ukraine Recovery III”, €100 million “Ukraine Water Recovery”, and the €100 million “Ukraine District Heating”, which will be channelled through Ukreximbank. These initiatives aim to ensure that millions of Ukrainians in more than 100 communities across the country have access to heating, water, hospitals, schools and housing for internally displaced people. The €120 million “Support of Ukrhydroenergo Stability and Recovery” loan to the largest hydropower generating company in Ukraine will help to restore hydropower plants and thus reinforce the Ukrainian energy system.

Deputy Prime Minister for Restoration of Ukraine — Minister for Development of Communities and Territories of Ukraine Oleksii Kuleba said: “We deeply value the strong cooperation with the European Investment Bank, in particular under the recovery programmes, which are playing, since 2014 a key role in supporting more than 100 communities across the country. We are grateful for the support to the communities that are de-occupied or close to the front line. The provision of social, medical, logistical, educational and other infrastructure is essential to ensuring our communities remains strong and resilient. Today we sign €100 million of the multi-sector Ukraine Recovery III loan for the restoration and modernization of critical infrastructure, such as heating, hospitals and housing for IDPs and we sign €100 million of Ukraine Water Recovery dedicated to water and wastewater. Our collaboration on social housing is another key component, reflecting our shared commitment to providing essential infrastructure and stability for those in need. The grant for renewable energy, which we also signed today, will play a vital role in ensuring that critical buildings, like hospitals, can continue serving the population amidst power cuts. Together, these initiatives not only accelerate our recovery but also help us build a more resilient and sustainable future for our country.”

The financing provided for the 112 call system in Ukraine will expand data centres across the country and upgrade their technological capacity, ensuring that critical services are reliable and efficient.

“Implementing and developing the 112 emergency call system has become a crucial component in enhancing public safety in Ukraine and in aligning our infrastructure to European standards. Thanks to the EIB loan and support from European partners, we will be able to improve cooperation between emergency services, particularly through the automatic detection of the caller’s geolocation. We will strengthen our ability to assist individuals with hearing and speech impairments, as well as foreign citizens. This project is about enhancing the safety of our citizens and providing timely assistance to those in need,” said Minister of Internal Affairs of Ukraine Ihor Klymenko.

The EIB is also signing a €16.5 million grant from the German government with the Ministry for Development of Communities and Territories of Ukraine to promote renewable energy. The grant comes through the EIB’s International Climate Initiative Fund and is part of the Ukraine Energy Rescue Plan announced by the EIB in October 2024.

The grant will help integrate renewable energy systems into public buildings undergoing renovation works under EIB municipal loans. This will upgrade social infrastructure and make energy more reliable, cleaner and less costly. The grant will also help to decentralise energy generation, ensuring that critical public buildings in towns and villages are less reliant on electricity supplies from large power stations, making them less vulnerable to blackouts in the event of an airstrike.

Berthold Goeke, Director-General for Climate Action, German Federal Ministry for Economic Affairs and Climate Action (BMWK) said: “Through the Renewable Energy Solutions Programme, the International Climate Initiative (IKI) is helping smaller Ukrainian communities — those most affected by the war and in urgent need — to implement climate-friendly technologies. This support enables Ukraine to reduce energy costs and modernize outdated infrastructure in public buildings, laying the foundation for a stable and renewable energy future. In this way, the German government is addressing two critical challenges in Ukraine’s energy system. First, we are supporting the development of a decentralized and resilient energy supply, particularly for essential public infrastructure such as hospitals, schools, and kindergartens. Given the ongoing Russian aggression and the destruction of central energy infrastructure, this is vital for ensuring stability and security. Second, our initiative contributes to Ukraine’s long-term energy transition by promoting renewable energy and energy efficiency measures, paving the way for a climate-neutral energy system.”

Social housing is one of the most pressing issues in Ukraine, with 10% of the country’s housing stock damaged as a result of the war. The EIB is supporting the government in drafting a new housing code and exploring the possibility of financing the construction of homes that are publicly owned.

Background information

EIB in Ukraine

The EIB Group has been supporting Ukraine’s resilience, economy and efforts to rebuild since the very first day of Russia’s full-scale invasion. In 2024, we supported projects aimed at securing Ukraine’s energy supply, repairing critical infrastructure that has been damaged, and ensuring that essential services continue to be delivered across the country. This brings the total amount of aid we have disbursed since the start of the war to over €2.2 billion. This funding has played a crucial role in ensuring that vital services continue to be delivered to people in Ukraine. For example, this year we inaugurated the water supply facility in Bucha that was rebuilt, and which provides clean water to 9 000 residents. We also opened five new schools in Vinnytsia, Dnipropetrovsk, and Ternopil Oblasts, helped build a department for children’s infectious diseases at a hospital in Zhytomyr Oblast, and significantly improved sanitation through the upgraded sewerage collector in Vinnytsia Oblast. Furthermore, our investments have helped modernise street lighting in Dnipro, benefitted the reclamation of the Hrybovychi landfill in Lviv, and helped to upgrade water infrastructure in Mykolaiv. We have also strengthened Ukraine’s transport networks to ensure resilient and sustainable mobility for businesses and residents. With our support, cities such as Lviv, Kyiv, Mykolaiv, Ivano-Frankivsk, Odesa, and Sumy have purchased new buses, trolleybuses, and trams. In addition, we have funded the reconstruction of the M01 Kyiv-Chernihiv-Novi Yarylovychi section of road that had been damaged in the war. To enhance Ukraine’s energy resilience, we have launched the Energy Rescue Plan, securing €600 million in EU-backed financing, including €86 million to build anti-drone shelters to protect critical electricity transmission infrastructure. These measures are crucial to maintaining stable power supply across the country amid ongoing challenges. In 2024, we signed over €250 million in new investment for projects to further enhance social infrastructure and support businesses that are the backbone of Ukraine’s economy.

The EU for Ukraine Fund (EU4U) was established in 2023 as part of a larger EU for Ukraine initiative. The fund aims to accelerate EIB Global’s support for Ukraine’s most urgent infrastructure needs and help sustain its economy. The Fund supports both public and private sector projects to rebuild critical municipal infrastructure and improve access to finance for entrepreneurs.

The International Climate Initiative (IKI) Fund was established in 2019 in partnership with the government of Germany, with the aim of catalysing investment for ambitious climate change mitigation and adaptation projects in developing and emerging countries. The IKI Fund seeks to do this by providing investment grants, financial instruments and technical assistance to public and private sector beneficiaries, as well as advisory services to central banks and financial institutions.
MIL OSI Europe News –
February 11, 2025
MIL-OSI Global: Prioritizing nuclear power and natural gas over renewable energy is a risky move for Ontario’s energy future

Source: The Conversation – Canada – By Norman W. Park, Professor Emeritus, Department of Psychology, Faculty of Health, York University, York University, Canada

The demand for electricity is growing rapidly as the world transitions from fossil fuels to low carbon-emitting forms of energy. However, making this transition will be difficult.

Ontario is projected to require 75 per cent more electricity by 2050, spurred by increasing demand from the industrial sector, data centres, electric vehicle (EV) adoption and households, according to the Independent Electricity System Operator (IESO).

To meet this demand, Ontario Energy Minister Stephen Lecce has proposed transforming the province into an “energy superpower” by aggressively expanding nuclear energy and natural gas while cutting support for wind and solar renewable energy.

This plan was spelled out in a policy directive from Lecce instructing the IESO to consider bids from all energy sources, opening the door to allow bids from natural gas and nuclear energy.

This is a departure from previous policies. Previously, under former Energy Minister Todd Smith, the IESO had stipulated bids for the electrical grid should only be from wind, solar, hydro or biomass.

The Ontario government should reconsider these plans. Non-renewable energy sources are costly, rely on new, expensive technologies, ignore the harm to human health and ignore the consequences for global warming.

Expanding nuclear

A central pillar of the Ontario government’s energy plan is the aggressive expansion of nuclear power. The province has committed to refurbishing 14 CANDU reactors at Bruce, Darlington and Pickering, and has proposed constructing new reactors at Bruce.

Ontario is also the first jurisdiction in the world to contractually build a BWRX–300 small modular reactor project at Darlington, despite not knowing its projected cost.

The cost of this small modular reactor may be much higher than similarly sized solar, wind and natural gas projects. This is unsurprising, given that the costs of nuclear projects are often much higher than projected.

Ontario encountered a similar issue when the Darlington nuclear generating station was constructed. The actual costs of nuclear projects were more than double projected costs and took almost six years longer to complete than projected.

Given these historical challenges and uncertainties, the province’s push for nuclear expansion is a cause for concern.

Opposition to wind and solar

Despite significant cost reductions in utility-scale wind and solar farms, which makes them less expensive than nuclear and fossil fuels in many parts of the world, Ontario’s recent policy directive reduced support for these non-emitting renewable energy sources.

The directive is a continuation of the government’s antipathy to wind and solar energy. Shortly after winning its first election in 2018, the Doug Ford government cancelled 750 renewable energy contracts at a cost of $230 million to Ontario residents. Ford defended this decision by saying it saved taxpayers $790 million and that wind turbines had “destroyed” Ontario’s energy file.

Unsurprisingly, growth of wind and solar energy in Ontario has stalled since the Ford government gained power. This slowdown has put it at odds with international trends. Between 2018 and 2023, the global growth of solar and wind energy nearly doubled and is projected to continue growing.

By curtailing support for renewable energy, Ontario risks missing out on the economic, environmental and technological benefits these energy sources offer. In other words, it may hinder the province’s ability to transition to a cleaner and more sustainable energy future.

Support for natural gas

Instead of investing in wind and solar to power Ontario’s electrical grid, the province has increased its reliance on natural gas. This expansion has tripled the percentage of energy provided by gas-fired turbines from four per cent in 2017 to 12.8 per cent in 2023. It’s projected to grow to 25 per cent by 2030.

Burning more natural gas increases the risk of premature death and emits more greenhouse gas compared to wind and solar energy.

According to Health Canada, outdoor air pollution has a total economic cost in Canada of $120 billion per year, and it resulted in 6,000 premature deaths per year in Ontario and 15,300 deaths in Canada. That’s about eight times higher than the annual number of motor vehicle fatalities in Canada.

Shifting focus from natural gas to cleaner energy sources like wind and solar could reduce these environmental and health impacts in Ontario.

Reconsidering Ontario’s energy transition

Ontario’s energy transition must involve supplying more energy to an expanding electrical grid while ensuring it remains reliable and resilient. The current government’s plans to turn the province into an “energy superpower” will commit Ontario to decades of costly expenditures and relies on unproven new technologies.

The government’s proposal to increase natural gas to supply the electricity grid and new buildings will increase the risk of premature death and serious illness to Ontarians and will increase greenhouse gas emission, undermining efforts to combat global warming.

Lecce should reconsider his current policy directive to the IESO. Future bids for the electrical grid should instead be evaluated for their impacts on the health of Ontario residents and climate change.

Ontario’s energy policies should also be guided by knowledgeable experts outside of government, rather than solely by politicians. Establishing a blue-ribbon committee comprising energy scientists and environmental specialists would provide needed oversight and ensure the province’s energy strategy is cost-effective, technologically sound and aligned with climate goals.

Ontario has an opportunity to lead by example in balancing energy needs with environmental and health priorities.

Norman W. Park receives no funding from any organization that would benefit from this article. He is affiliated with Seniors for Climate Action Now.

– ref. Prioritizing nuclear power and natural gas over renewable energy is a risky move for Ontario’s energy future – https://theconversation.com/prioritizing-nuclear-power-and-natural-gas-over-renewable-energy-is-a-risky-move-for-ontarios-energy-future-246289

MIL OSI – Global Reports –

February 11, 2025

MIL-OSI Canada: Continuing Alberta’s advocacy efforts to U.S. officials

Source: Government of Canada regional news (2)

The Premiers’ trip is part of a Council of the Federation mission to Washington, D.C. from Feb. 11 to 13 where Premier Smith will support a Team Canada approach to engaging with U.S. lawmakers and industry, while highlighting how tariffs on Canadian and U.S. products harms Canadians, Americans, workers, businesses and industry on both sides of the border.

Premier Smith will also take the opportunity to reinforce how Alberta is contributing to Canada’s enhanced efforts to secure our shared border, how we can collectively grow our economies, and the significant role Alberta energy plays in helping the U.S. create prosperity for its people and achieve energy dominance and security for the long term.

“The past few weeks have marked a pivotal time in the historic partnership that has bridged our two nations for generations. I was, like all Canadians, deeply disappointed by President Donald Trump’s decision to announce damaging tariffs, but I am encouraged by the decision to pause tariffs for 30 days and the progress the pause represents. This is further evidence that diplomacy and action on border security matters. I look forward to lending my voice alongside Canada’s Premiers in Washington, D.C. where we will meet with U.S. decision makers and influencers to continue efforts to deescalate tensions between our two countries, work together on shared goals and find common ground so that we can restore our mutually beneficial and enduring friendship.”

Danielle Smith, Premier of Alberta

The Council of the Federation was formed in 2003. It brings together Canada’s 13 provincial and territorial Premiers to enhance collaboration among provinces, territories and with the federal government, while working together to address important issues that affect all Canadians.

Premier Smith will travel with five staff members. Mission expenses will be posted on the travel and expense disclosure page.

Quick facts

The United States announced 25 per cent tariffs on most Canadian goods and a 10 per cent tariff on Canadian energy exports.
In response, Canada announced retaliatory tariffs on C$155 billion of U.S. exports.
As of Feb. 3, U.S. tariffs on Canadian goods and retaliatory tariffs on U.S. goods have been delayed for at least 30 days.
Alberta is spending C$29 million on a border security plan, including the creation of a new sheriffs unit, a 51-officer Interdiction Patrol Team, four patrol dogs and 10 weather surveillance drones, among other measures.
The U.S. is Alberta’s largest trading partner and Alberta is the second largest provincial exporter to the U.S.

In 2023, Alberta’s exports to the U.S. totalled C$156 billion, accounting for 89.3 per cent of total provincial exports.
Energy products accounted for approximately C$127.5 billion, more than 82 per cent of Alberta’s exports to the U.S. in 2023.
In 2023, Alberta imported approximately C$25.8 billion in products from the U.S., including energy, machinery, aircrafts, vehicles and plastics. However, these figures are under-reported, as they do not account for trans-shipments.

Canada buys more from the U.S. than Germany, Italy, France, the UK and Vietnam combined.
The U.S. is an important source of industrial inputs and consumer goods for the province.
If oil and gas exports are excluded, the United States actually sells more to Canada than Canada sells to the U.S.

Itinerary for Premier Smith*

Feb. 10	Travel to Washington, D.C.
Feb. 11	Event hosted by COF chair Premier Doug Ford with a U.S. senator and Premiers.
Feb. 12	Participate with Canada’s Premiers in meetings with U.S. decision makers and industry leaders.
Feb. 13	Travel to Alberta.

*Subject to change.

Related information

Council of the Federation

MIL OSI Canada News –

February 11, 2025

MIL-OSI: Sapphire Technologies and Tulip Compression Private Limited Join Forces to Advance Clean Energy in India

Source: GlobeNewswire (MIL-OSI)

CERRITOS, Calif., Feb. 10, 2025 (GLOBE NEWSWIRE) — Sapphire Technologies, a leader in energy recovery systems for hydrogen and natural gas applications, has announced a strategic expansion into India with its partnership with Tulip Compression Private Limited (TCPL), a prominent provider of energy solutions in the region’s natural gas industry. Together, the companies aim to deploy Sapphire’s FreeSpin® In-line Turboexpander (FIT) technology to India, addressing critical energy infrastructure challenges while advancing the country’s clean energy ambitions.

As India’s natural gas sector continues to expand, with over 24,000 kilometers of pipelines supporting industrial growth, the need for sustainable solutions has never been greater. By leveraging Sapphire’s cutting-edge FIT technology and TCPL’s extensive industry expertise to transform pressure regulation stations into clean energy assets — the two companies have outlined an ambitious plan to deploy over 150 FIT systems across India in the coming years, which could result in a total reduction of 300,000 CO2e per year, marking a significant impact in advancing India’s decarbonization goals.

“Partnering with Tulip Compression Private Limited is an exciting milestone as we expand into one of the world’s most dynamic energy markets,” said Freddie Sarhan, CEO of Sapphire Technologies. “India’s growing natural gas sector offers immense opportunities to deploy FIT technology, addressing inefficiencies while driving sustainability and economic growth. Together with TCPL, we aim to create a significant impact on India’s journey towards a cleaner energy future.”

“Deploying state-of-the-art FIT technology in the Indian market for energy recovery shall significantly contribute to cost efficiency across the ecosystem,” said Rajkumar Sachdeva, Director of Tulip Compression Private Limited. “This partnership marks a pivotal moment for the industry, as we integrate innovative solutions to meet India’s clean energy aspirations. By addressing challenges across key industrial sectors like steel and fertilizer production and the expanding City Gas Distribution network, we are creating opportunities to deliver both environmental and economic benefits to the natural gas ecosystem.”

By harnessing energy that would otherwise be wasted, the collaboration seeks to enhance operational efficiency, strengthen infrastructure, reduce carbon emissions, and create new revenue opportunities for gas companies. This deployment not only reflects the scale of their commitment but also highlights the potential to create local jobs and promote broader clean energy adoption. With the success of this initiative, the partnership is poised to expand into neighboring South Asian markets, further advancing Sapphire’s mission to drive global decarbonization.

About Sapphire Technologies
Sapphire Technologies is driving global decarbonization through developing and manufacturing energy recovery systems that harness the power of gas expansion to produce reliable and clean electricity. Sapphire Technologies’ systems are designed to convert energy wasted in pressure reduction processes into electric power without interrupting operations. By recovering this wasted pressure energy, Sapphire Technologies helps customers maximize efficiencies, improve productivity, reduce carbon emissions, offset electrical costs and achieve substantial financial returns. For additional information visit: https://www.sapphiretechnologies.com.

About Tulip Compression Private Limited
Tulip Compression Private Limited (TCPL) is a leading solution provider in the energy sector, with its origins rooted in the natural gas industry. Steered by a management team with over 20 years of experience, the company has earned the trust of the industry through its unwavering commitment to product safety and operational efficiency. TCPL’s expertise includes packaging of reciprocating equipment, lifecycle equipment maintenance, consulting in the energy and related industries, and leveraging AI for diagnostics and monitoring insights. Focused on industrial growth, TCPL emphasizes the principle of ongoing innovation, continually expanding its portfolio with new solutions, such as recent advancements in hydrogen, to meet the evolving needs of the energy sector.

Media Contact:
Kite Hill PR
Lara Schembri Sant
lara@kitehillpr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3b4f6bab-b352-44ac-bfc2-3db7491d06bc

The MIL Network –

February 11, 2025
MIL-OSI USA: FACT SHEET: Trump Continues to Block Hundreds of Billions of Dollars Owed to Communities Across America

US Senate News:

Source: United States Senator for Washington State Patty Murray
***READ FACT SHEET HERE***
Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, released a new fact sheet detailing how, in his third week in office, President Trump is continuing to block hundreds of billions of dollars in enacted funding from making its way out to families and communities across America who are counting on investments that have been enacted into law.
In a statement, Senator Murray said:
“President Trump is still illegally blocking hundreds of billions of dollars in investments that are owed to communities across the country.
“The president’s sweeping freeze is causing real pain for people in every part of the country—in red states and blue states and everywhere in between—and it must end right now.
“The uncertainty alone over the fate of these investments is putting jobs on the chopping block, hurting American businesses left wondering whether contracts they’ve inked mean anything, and jeopardizing entire local economies. What Trump is doing could shutter critical infrastructure projects in virtually every community, kill good-paying jobs, choke off funding for farmers, stop innovation in its tracks, leave massive holes in local communities’ budgets, and so much more.
“Once again: if Donald Trump or Elon Musk want to gut funding that’s creating good-paying jobs all across America, they can take their case to Congress and win the votes they need to do it. Defying the constitution to unilaterally rip away your tax dollars is not how this works.”
A table of estimated funding in jeopardy is below. Read the full fact sheet HERE.
While the extent of Trump’s funding freeze remains uncertain as his administration refuses to clarify what is blocked, here is a non-exhaustive overview of what is frozen by Trump’s actions and in jeopardy:
Trump Action
Relevant Agencies
Select Examples of Affected Programs
Funding in Jeopardy*
Executive Order Freezing IIJA & IRA Funding
Department of Commerce
High-speed broadband deployment.
$40+ billion
(EO 14154)
Department of Energy
Efforts to build and upgrade America’s energy infrastructure, lower costs for consumers.
$98 billion

Department of Housing and Urban Development
Grants and loans to improve resiliency and energy efficiency of affordable housing.
$830+ million

Department of the Interior
Tribal electrification, hazardous fuel reduction, National Parks maintenance and staffing, & more.
$20+ billion

Department of Transportation
Funding to upgrade roads, bridges, transit, & more.
$130+ billion

EPA
Funds for clean water infrastructure, tackling pollution, Superfund sites, & more.
$100+ billion

Forest Service
Wildfire risk reduction, ecosystem restoration, & more.
$10+ billion

NOAA
Funding for flood inundation mapping, coastal resilience projects, habitat restoration, ocean observations, fisheries management, & more.
$1.5 billion

USDA
Grants for producers and rural small businesses to finance renewable energy projects, for farmers to improve climate resiliency, for watershed protection and flood prevention, rural broadband, & more.
$25 billion
Executive Order Blocking All Foreign Assistance (EO 14169)
Department of State & USAID
Life-saving aid, funding to monitor and prevent the spread of infectious diseases that can reach our shores, counterterrorism programs, programs to give U.S. businesses an edge over Chinese and other companies in foreign markets, funds owed to U.S. businesses for services rendered, & more.
$30 billion
Executive Order Halting Funding for Anything Deemed “DEI” (EO 14151)
All agencies
Any programs or expenditures the administration deems “woke.”
??? The administration has provided little to no clarity over what programs it is blocking (or will block) funding for under this EO.
Elon Musk & DOGE Actions
All agencies
Open question. Reports confirm DOGE sought access to central payment system to halt disbursements.
???
Other actions
All agencies
???
???
TOTAL

At least $455 billion
*Funding in Jeopardy: this reflects our best understanding, as of afternoon on February 7, of what funding is being illegally withheld. The administration has failed to provide clear answers—and the actual number could be higher. This lack of transparency and responsiveness to Congress, and thus the American people, is without precedent.
FOR MORE DETAILS, READ THE FULL FACT SHEET HERE.

MIL OSI USA News –

February 11, 2025
MIL-OSI USA: $60 Million for Electric Vehicle Charging Infrastructure
Source: US State of New York

Governor Kathy Hochul today announced a $60 million transaction to accelerate electric vehicle (EV) charging infrastructure deployment across New York City. The loan provided by NY Green Bank (NYGB), the State’s clean energy investment fund and a division of the New York State Energy Research and Development Authority (NYSERDA), to Revel, the largest provider of public EV fast-charging in New York City, will enable Revel to more than triple its current New York City public fast charging network this year. This represents NYGB’s first EV charging infrastructure transaction and supports the expansion of investments in clean transportation to reduce greenhouse gas emissions while increasing access to critical charging infrastructure necessary for the wider adoption of EVs.

“In support of the transition to a clean energy economy, it is critical that we continue to build electric vehicle infrastructure to ease the shift to EV ownership for more New Yorkers, especially those in urban areas,” Governor Hochul said. “This significant investment addresses the key need of providing electric vehicle users in New York City with much needed public charging options while reducing local emissions.”

This funding will enable the construction of 267 new charging stalls across nine sites and supports the intricate construction activities involved in designing and building EV charging stations. Revel will complete construction of the below new sites in the next 12 months, with the remainder to be completed by 2027:
- 60 charging stalls in Maspeth, Queens, that will be the largest fast-charging station in the Northeast U.S.
- 44 charging stalls near LaGuardia Airport, making it the largest fast-charging station near an airport in the country. *
- 24 charging stalls at John F. Kennedy International Airport (JFK); making it the largest charging station at the airport. *
- 30 charging stalls in Greenpoint, Brooklyn.
- 20 charging stalls in the Port Morris section of the Bronx. *
* Located in a Disadvantaged Community (DAC)

New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “NY Green Bank’s financing support for critical infrastructure that is advancing clean transportation complements NYSERDA’s efforts to drive the transition to electrification of this sector. Increasing the state’s charging capabilities is a step forward in ensuring New Yorkers can plug in and drive clean and we commend Revel’s leadership in this regard in a major hub and in high-impact locations such as major airports.”

NY Green Bank President Andrew Kessler said, “NY Green Bank is pleased to share this exciting transaction that is demonstrating the viability of financing EV charging infrastructure to support the adoption of electric vehicles. The Revel transaction is an important and replicable precedent we expect will help accelerate investment in this fast-growing sector and expand access to EV charging for more New York drivers.”

Revel Co-Founder and CEO Frank Reig said, “For the past few years, Revel has been preparing a strategic portfolio of the most lucrative fast-charging locations in New York City. These sites are now shovel-ready. With the critical support from NY Green Bank, we are ready to take New York’s EV economy to the next level with a fast-charging network rivaling any other top tier city.”

Revel broke ground in November at JFK Airport, adjacent to the main rideshare vehicle waiting area, with support from the Port Authority of New York and New Jersey. With funding from NYGB, Revel will now be able to complete construction of the aforementioned 24 charging stalls. That site will open in Q1 2025 and is expected to be one of the most utilized charging stations in the country.

State Senator Kevin Parker said, “Our goal is to leave New York State in a better condition than when we found it. If we are going to move forward with our CLCPA goals, we must transition our transportation sector to clean vehicles. We also must invest in the infrastructure needed to provide confidence, reliability, and convenience for New Yorkers. I applaud Governor Hochul, Revel, and NYSERDA for continuing to provide these opportunities with financing support through New York Green Bank.”

State Senator Jeremy Cooney said, “The future of transportation is electric. Today’s investment by the NY Green Bank and NYSERDA represents our state’s continued commitment to new and emerging transportation technologies and a greener, cleaner future for New Yorkers.”

Assemblymember William Magnarelli said, “I am encouraged by this announcement. Expanding our charging infrastructure is essential if New York is going to reach its zero-emission transportation goals. These additional chargers will make transitioning to an EV more convenient and reliable.”

Revel charging stations are open to the public on a 24/7 basis for any make and model EV. All chargers installed at future locations will have speeds of at least 320 kilowatts (kW), which can charge an EV in as little as 15 minutes.

Last year, NYGB completed another groundbreaking transaction with Inspiration Mobility—which partners with Revel—to support the deployment of nearly 400 EVs in New York City that are increasing access to clean ridesharing transportation. Over three-quarters of Revel’s pipeline projects being supported by NYGB financing are located in DACs, advancing NYGB’s goal to commit a minimum of 35 percent, with a target of 40 percent, of its capital to projects benefiting DAC.

As the largest state green bank in the nation, NYGB has committed more than $2.4 billion to advancing New York State’s clean energy economy for all New Yorkers. Since inception, its investments have mobilized up to $8.8 billion in project costs across technologies, with $383 million mobilized in the clean transportation sector alone. NYGB’s transactions are designed for replication and adoption by the private sector, helping to animate the market and mobilize capital into underserved green sectors with a special focus on clean transportation, energy storage, and building decarbonization.

More information about the Revel deal can be found in NYGB’s transaction profiles on its portfolio page. Photos and video are available upon request by contacting Revel at [email protected].

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

MIL OSI USA News –
February 11, 2025
MIL-OSI Economics: Tech titans surge while legacy giants stumble in 2024, reveals GlobalData

Source: GlobalData

Tech titans surge while legacy giants stumble in 2024, reveals GlobalData

Posted in Business Fundamentals

The latest analysis of top market value gainers and losers has uncovered intriguing trends in the stock market. Notably, there is a significant surge in investor appetite for technology stocks, charting divergent market trajectories compared to other industries. During the evaluation period from 31 January 2024 to 31 January 2025, the top gainer in market value was Santa Clara-based GPU maker NVIDIA while the top loser was the Saudi Arabian Oil Company (Saudi Aramco), reveals the Company Profiles Database of GlobalData, a leading data and analytics company

NVIDIA reportedly added a staggering $1.4 trillion to achieve a market capitalization of $2.9 trillion by the end of the review period. In stark contrast, Saudi Aramco witnessed its market value decline by $182.1 billion to reach $1.8 trillion.

Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “NVIDIA’s explosive growth is largely attributed to its dominance in artificial intelligence (AI) chips, cloud computing, and data center expansion. As the primary supplier of AI GPUs, NVIDIA capitalized on the AI boom, securing massive contracts with cloud service providers and enterprises investing in machine learning.

On the other side, Saudi Aramco witnessed a downturn in its stock value due to the ongoing global transition to renewable energy, lower demand from China, and the diminishing reliance on fossil fuels.

Apple Inc, despite being the largest company by market value at $3.5 trillion, recorded a relatively modest growth of $697.8 billion. This highlights the challenges even tech giants face in maintaining exponential growth at such a massive scale.

Grandhi continues: “Pharmaceutical companies, once considered recession-proof, have faced significant headwinds. Moderna Inc. saw its market value plummet to $15.2 billion, a decline of $23.4 billion, primarily due to the waning demand for COVID-19 vaccines and rising competition within the biotech sector. Denmark-based Novo Nordisk faced an $87.7 billion drop in valuation, attributed to regulatory scrutiny and intensifying competition in the weight-loss drug market. Meanwhile, Merck & Co., Inc. and Regeneron Pharmaceuticals Inc. experienced declines of $56.1 billion and $28.8 billion, respectively, as concerns over drug patent expirations and pricing pressures weighed on investor sentiment.”

Samsung Electronics lost $114 billion in market cap due to weak consumer electronics demand and struggles to compete in the AI chip market. Intel shed $98 billion amid supply chain disruptions and intensifying competition. Adobe declined by $88.8 billion as software subscriptions slowed and AI-driven creative tools gained traction. AMD lost $82.7 billion due to softening semiconductor sales. ASML fell $37 billion, impacted by reduced chipmaker demand and the US sanctions restricting sales of advanced lithography equipment to China, limiting its access to one of its key markets.

Grandhi concludes: “The coming months of 2025 will be highly volatile, driven by renewed tariff wars, interest rate cuts, and the divide between booming tech and struggling traditional industries. Geopolitical tensions, energy transitions, and inflation concerns will add uncertainty. While AI and renewables fuel investor optimism, supply chain disruptions and policy shifts pose risks. Businesses must embrace adaptability and diversification to navigate an unpredictable financial and economic landscape.”

MIL OSI Economics –

February 11, 2025
MIL-OSI USA: UConn Engineering Boasts 9 National Academy of Inventors (NAI) Fellows
Source: US State of Connecticut

For people diagnosed with Atrial fibrillation, commonly known as AFib, the upper chambers of the heart beat rapidly and irregularly, leading to poor blood flow. This can cause an increased risk of stroke, chronic fatigue, or heart failure.

Professor of Biomedical Engineering Ki Chon was elected an NAI Fellow in 2020.

Professor of Biomedical Engineering Ki Chon has devoted his entire career at UConn developing advanced computational methods—or algorithms—that can improve accurate detection of AFib and other heart diseases. He holds multiple patents for these algorithms, which help monitor heart activity in smartwatches and other wearable devices.

For his life-saving innovations, Chon, who’s also a Board of Trustees Distinguished Professor and Krenicki Chair Professor, is recognized as a National Academy of Inventors (NAI) Fellow. He’s among 13 academic inventors at UConn “who have demonstrated a prolific spirit of innovation in creating or facilitating outstanding inventions that have made a tangible impact on quality of life, economic development and the welfare of society.”

Election to NAI Fellow status is the highest professional distinction accorded solely to academic inventors.

Chon and eight other UConn NAI Fellows are affiliated with the College of Engineering, including:
- UConn’s 17th and current President Radenka Maric, Board of Trustees Distinguished Professor and Chair Professor in Sustainable Energy in Chemical and Biomolecular Engineering and Materials Science and Engineering, earned the NAI Fellowship in 2019. Maric has significantly advanced understanding of materials and catalysts and has developed innovative manufacturing processes involved in fuel cell technologies, storage materials, and electrochemical sensors for health applications, leading to higher-performance, commercially viable clean energy systems. She also has six issued patents and 11 published patent disclosures.
- Ji-Cheng “JC” Zhao, dean of the College of Engineering and professor of materials science and engineering, received the NAI Fellowship in 2022. Zhao’s research focuses are on design of advanced alloys and coatings, additive manufacturing (3D printing) of alloys and composites, high-throughput materials science methodologies, determination of phase diagrams and other materials properties, computational thermodynamics and kinetics, and also hydrogen/energy storage materials. In addition to many materials innovations, he pioneered the development of a diffusion-multiple approach and co-developed several materials property microscopy tools for accelerated materials discovery and development. Zhao has 49 patents covering a wide range of materials, processes, and systems.
- Dr. Cato Laurencin, Albert and Wilda Van Dusen Distinguished Professor of Orthopaedic Surgery, professor of chemical and biomolecular engineering, professor of materials science and engineering, and professor of biomedical engineering, received the Fellowship in 2013 and was the first UConn faculty to become a NAI Fellow. He’s also a current member of the NAI’s Board of Directors and president of UConn’s NAI chapter. He has received the Connecticut Medal of Technology and Innovation, and the National Medal of Technology and Innovation in ceremonies at the White House. As Chief Executive Officer of the Cato T. Laurencin Institute on Regenerative Engineering and a practicing sports medicine and shoulder surgeon, Dr. Laurencin is known for being the pioneer of the field of regenerative engineering. He’s also produced seminal research and technologies on nanotechnology and tissue regeneration, polymer chemistry and polymeric materials science and engineering.
  
  Dr. Cato Laurencin is currently a member of the national selection committee for the National Academy of Inventors and serves as a resource to individuals interested in becoming Fellows at UConn. (Sean Flynn/UConn Photo)
- Luyi Sun, professor of chemical and biomolecular engineering, was awarded the Fellowship in 2021. Sun studies polymeric materials, ceramics and glasses, and composites with a focus on designing materials with unique structure for specific applications, such as packaging, energy, or catalysis.
- Bahram Javidi, Board of Trustees Distinguished Professor and SNET Endowed Chair Professor of Electrical and Computer Engineering, received the NAI Fellowship in 2018. Javidi’s inventions are in a broad range of transformative imaging approaches using optics and photonics. He has made seminal inventions in passive and active multi-dimensional imaging from nano to micro and macro scales. His inventions include advanced 3D displays, 3D augmented reality devices, underwater sensing and imaging, multi-dimensional object recognition and classification, optics for security and authentication systems, field portable bio-sensors for automated disease identification, among others.
- UConn’s 16th President Tom Katsouleas, professor of electrical and computer engineering, was named a NAI Fellow in 2020. He invented the Surfatron accelerator that uses electromagnetic waves to accelerate charged particles.
- Steven Suib, director of the Institute of Materials Science, Board of Trustees Distinguished Professor of Chemistry and graduate faculty member in Materials Science and Engineering, received the Fellowship in 2017. Suib, an inventor, holds more than 90 patents in the field of materials science, of which three are licensed. These patents are primarily for the synthesis of new compositions of matter of catalysts, ceramics, batteries, semiconductors, and other materials.
- Lakshmi Nair, from UConn Health, received her Fellowship in 2016. She is an associate professor of orthopedic surgery and is also on the graduate faculty for Materials Science and Engineering Department. Nair studies biomaterial design and synthesis, protein and small molecule delivery, and using matrices to help with tissue regeneration.
  
  Lakshmi Nair, who serves on the graduate faculty for the Materials Science and Engineering Department, is vice president of UConn’s NAI Chapter.
Other UConn faculty who are NAI Fellows include:

Guillermo Risatti, from the College of Agriculture, Health and Natural Resources, is UConn’s most recent NAI Fellow. He received the award in 2024. Risatti, professor of pathobiology and veterinary science and director of UConn’s Connecticut Veterinary Diagnostic Medical Laboratory, was nominated to the NAI in recognition of his pioneering work in veterinary vaccine research. Most recently, he was a lead inventor on a new vaccine for African swine fever. Risatti currently holds 19 patents, all in the realm of veterinary vaccines.

Dr. Se-Jin Lee, from UConn Health, earned the NAI Fellowship in 2015. Dr. Lee, Presidential Distinguished Professor of Genetics and Genome Sciences and a joint faculty appointment with The Jackson Laboratory for Genomic Medicine, is an expert on reproductive health, particularly how various growth factors and signaling pathways impact health, aging, and disease.

Dr. Pramod Srivastava from UConn Health, was named a Fellow in 2015. Dr. Srivastava, professor of immunology and the Eversource Energy Chair in Experimental Oncology, also served as director of the Carole and Ray Neag Comprehensive Cancer Center. He has earned international acclaim and holds many patents for his groundbreaking work in the immunological function of heat shock proteins and in cancer immunology.

And Diane Burgess, from the School of Pharmacy, received the NAI Fellowship in 2023. Burgess, Pfizer Distinguished Chair of Pharmaceutical Technology and Board of Trustees Distinguished Professor of Pharmaceutics, studies drug delivery systems including implantable biosensors for glucose monitoring for diabetic patients.

These 13 NAI Fellows are among 2,068 worldwide, representing more than 300 prestigious universities and governmental and non-profit research institutes. Collectively, the Fellows hold more than 68,000 issued U.S. patents, which have generated over 20,000 licensed technologies, 4,000 companies, and created more than 1.2 million jobs. In addition, over $3.2 trillion in revenue has been generated based on NAI Fellow discoveries.

Among all NAI Fellows, there are 755 members of the National Academies of Science, Engineering and Medicine; 63 inductees of the National Inventors Hall of Fame; 70 recipients of the U.S. National Medal of Technology and Innovation and U.S. National Medal of Science; and 57 Nobel Laureates, among other awards and distinctions.

In addition to the elected NAI Fellows, the Academy also accepts NAI Senior Members, who may not reach the NAI Fellow criteria, but foster a spirit of innovation within their communities and institutions while educating and mentoring the next generation of inventors. Senior Members are active faculty, scientists, and administrators with success in patents, licensing, and commercialization and have produced technologies that have brought or aspire to bring, real impact on the welfare of society.

Senior Members are nominated by their local NAI chapter. UConn’s NAI Chapter, NAI-UConn, is led by President Laurencin and Vice President Nair. NAI-UConn was established to promote scientific innovation across all disciplines in the UConn community.

“As a group, we work to identify individuals who would make ideal Fellows and Senior Members by evaluating how they contribute to the ecosystem of inventorship,” Laurencin says. Laurencin is a member of the national selection committee for the National Academy of Inventors and serves as a resource to individuals interested in becoming Fellows.

UConn currently has seven NAI Senior Members including:
- Changchun Liu, professor of biomedical engineering, elected in 2021.
- Yupeng Chen, associate professor of biomedical engineering, elected in 2021.
- Thanh Nguyen, associate professor of mechanical engineering, elected in 2024.
- Mostafa Analoui, executive director of venture development and the Technology Incubation Program, elected in 2021.
- Raman Bahal, associate professor of pharmaceutics, elected in 2024.
- Gregory Gallo, Director of Technology Transfer, elected in 2021.
- Randall Spencer, vice president of clinical innovation at Mimedx and UConn Health collaborator, was elected in 2020.
“Our inductees in the National Academy of Inventors confirm what we know to be true of UConn researchers and innovators,” says Pamir Alpay, UConn vice president for research, innovation, and entrepreneurship. “From engineering to health care, UConn researchers are helping to improve lives and advance technology. Congratulations to all our members of this prestigious Academy.”

MIL OSI USA News –
February 11, 2025
MIL-OSI USA: Gov. Kemp Announces 104 Appointments to Boards, Authorities, and Commissions

Source: US State of Georgia

Atlanta, GA – Governor Brian P. Kemp today announced 104 appointments and reappointments to various state boards, authorities, and commissions.

Board of Regents of the University System of Georgia

Patrick Jones was reappointed.

Thomas Chris Cannon is a business owner, business leader, and an active member of the Albany community and the State of Georgia. Early in his career, Cannon was the President and Chief Operating Officer of an entity that had varied business interests throughout Georgia, including a multi-divisional Caterpillar Tractor Distributorship, corporate farming operations and real estate development. In 1992, Cannon founded and developed a business group whose mission was to provide a variety of environmental services to businesses and city and county governments in Georgia, Florida, and Alabama. The business group consisted of a multi-location residential and commercial waste service company, a petroleum equipment company, a solid waste landfill developer and operator, and an environmental consulting and remediation firm. In 1998, Cannon completed a merger transaction of his waste service company with a publicly traded company – Waste Industries – based in Raleigh, North Carolina. For several years, Cannon served on the board of directors of the publicly traded company, until 1992 when he sold his shares in Waste Industries to pursue other business interests. Also in 1992, he founded Flint Holdings, Inc. Today, Cannon continues to own and operate Flint Equipment Company consisting of Flint Ag and Turf, Flint Power Systems, and Barber Petroleum Equipment Company. Over the years, Cannon has served as the president of many civic organizations, including the Albany Technical College Foundation Board, the Albany YMCA Board, and the Boys and Girls Club Board. He also served on the boards of the Darton College Foundation, the State of Georgia Department of Industry and Trade, NoVab Inc., Waste Industries Inc., Deerfield Windsor School, the Governors Council on Economic Development, the Georgia Mining Association, the Albany Museum of Art, Nations Bank, and regional Sun Trust Bank. Cannon is a graduate of the University of Georgia with a B.S.A. degree in Business. He has two children that are active in the businesses and continues to reside in Albany.

Haynes (Maier) Studstill is a partner in the Valdosta law firm Studstill Firm, LLP, where her practice is focused on representing individuals and families in disputes with insurance companies. Studstill is originally from Rome, where she attended Darlington School before graduating the Culver Academies in Culver, Indiana. She earned her B.S. degree from Vanderbilt University in human & organizational development. After graduating from Vanderbilt, Haynes worked in the journalism industry for several years. She worked at WRC-TV/NBC4 in Washington, D.C. and NBC-affiliate WSMV in Nashville, Tennessee. She also served as the life editor of The Brunswick News before joining her uncle, William S. Morris, III, of Augusta, at his equine publications, Quarter Horse News and Barrel Horse News, in Fort Worth, Texas. Morris is a former regent, as is his father and Haynes’s grandfather, William S. Morris, Jr., thus making Haynes the 3rd generation in her family to serve the University System of Georgia on the Board of Regents. Studstill attended Mercer University’s Walter F. George School of Law, where she met her husband, Justin D. Studstill. She and Justin both graduated from Mercer. She is a former barrister in the William Augustus Bootle Inn of Court. Studstill clerked for the Hon. C. Ashley Royal in the U.S. District Court for the Middle District of Georgia and worked as an associate for King & Spalding, LLP in Atlanta, before joining her father-in-law, Danny Studstill, and her husband in practice in South Georgia at the Studstill Firm, LLP. She currently serves as a board member on the State Botanical Garden of Georgia Board of Advisors in Athens and on the Judicial Nominating Commission, having been appointed by Gov. Kemp in 2021. She also serves as a Special Master, appointed by the Georgia Supreme Court, on attorney discipline cases. She is the immediate past president of the Valdosta Bar Association, and former president of both the Alapaha Judicial Circuit Bar Association and the Valdosta Chapter of the Georgia Association of Women Lawyers (GAWL). She is a former board member of: Vanderbilt University Peabody College Young Alumni Board; the Museum of Arts & Sciences in Macon; SafeKids Lowndes County; and The Verdict magazine of the Georgia Trial Lawyers Association (GTLA). She has been admitted to practice in all State Appellate Courts in Georgia, all U.S. District Courts in Georgia, and the Supreme Court of the United States. She and her husband have four children and live in Lakeland, Georgia.

State Board of Pardons and Paroles

Robert Markley is a dedicated and experienced law enforcement professional with a proven track record of leadership and service to the community. Markley served as the elected Sheriff of Morgan County from 2001 to 2024, overseeing all aspects of law enforcement operations. Prior to his role as Sheriff, Markley held various positions within the Morgan County Sheriff’s Office, including jailer, patrolman, investigator, and administrative officer. Committed to maintaining public safety, upholding the law, and fostering positive community relationships. During his tenure as Sheriff, he served as member of the Board of Trustees for the Sheriffs’ Retirement Fund of Georgia.

Georgia Composite Medical Board

Judy Lynn Gardner and Barby J. Simmons were reappointed.

Board of Natural Resources

Nancy Addison was reappointed.

Mike Peavy is a native of Hawkinsville, Georgia, and is a graduate of the University of Georgia. After teaching for several years, he transitioned into concrete and masonry supply sales, ultimately joining Cherokee Brick. At Cherokee, Peavy became vice president of sales and later assumed the role of president in 2008. In 2021, Peavy was named president of CBEL, the parent company overseeing Cherokee Brick, Cherokee Block, Cherokee Masonry, Stratton Stone and other complimentary businesses. With a history of leadership in the industry, Peavy served many years on the Brick Industry Association (BIA) Board, BIA Region 9 and as past president of Brick Southeast. He currently serves on the Georgia Mining Association (GMA) board and the Southeast Concrete Masonry Association (SCMA). Peavy resides in Macon with his wife, Kate. They have two children and are awaiting the arrival of twin granddaughters on the way.

Georgia Peace Officer Standards and Training Council

Andy Hester and Ray Paulk were reappointed.

State Board of Education

Leonte Benton and Rich Valladares were reappointed.

Courtney Dove attended the University of Georgia where she earned a B.A. in political science and master’s in teaching. She went on to teach United States history, world history, government and Georgia studies at Winder-Barrow High School and Dodgen Middle School. She has served as department chair and a county representative of her department. Dove has also worked at Riverstone Church as the preschool and kindergarten lead and regularly volunteers at her children’s schools in various capacities. Additionally, she advocates for congenital heart defect awareness and serves as a heart swap chair for Children’s Healthcare of Atlanta. Courtney lives in Marietta with her husband David and their three children.

Kristi Garrett has been with RA-LIN & Associates, Inc. since 2008, where she is the chief marketing officer. A graduate of Auburn University with a degree in business administration-marketing, Garrett initially worked in the healthcare industry before taking time to focus on her family. In 2018, she became a managing partner of Southern Home & Garden/ACE Hardware until its sale in 2021. At RA-LIN, she focuses on building relationships, fostering growth, and inspiring success. Beyond her professional career, Garrett is a dedicated community leader, serving on the Carroll County Chamber Board, the Tanner Foundation Board of Trustees, and participating in local organizations. A Carrollton, Georgia native, Garrett is married to Ben Garrett, and together they have four children.

Melanie Stockwell has had a longstanding passion for Georgia public education, beginning with her role as general counsel for the Department of Education from 1996 to 2003. She then served in various capacities in the Georgia State Senate, including as chief of staff to President Pro Tempore Eric Johnson, where she provided legal counsel and policy expertise, particularly in education. After her time in the Senate, Stockwell worked on policy initiatives for political candidates and later held a position at the Georgia Department of Labor before leaving full-time work in 2013 to focus on family. She became deeply involved in school volunteering, serving on PTSA boards and local school councils. After her youngest child graduated, she worked as a front desk receptionist at Lakeside High School for five years, supporting teachers and administrators. She holds a B.A. in political science from Carson-Newman College and a law degree from the University of Virginia. Melanie and her husband, Mitch, reside in DeKalb County with their two young adult children.

Lake Lanier Islands Development Authority

Alan Gravel and Stephen Syfan were reappointed.

Walter “Bill” Frobos is CEO and one of the owners of Lanier Treatment Center. He graduated from the University of Georgia with a B.S.A. Frobos worked for Leon Farmer & Co. for 20 years in management and marketing. He is also a licensed real estate agent with Southern Heritage Land Co. In 2005, he saw a need to help those that had inadvertently became addicted to opiates. Frobos founded Lanier Treatment Center with a local physician and another business partner to offer medication assisted treatment. His goal and philosophy have always been to focus on providing the best outpatient treatment by using quality and well-trained counselors to help the clients to live a healthy, sober life.

Georgia Council on Aging

Kenneth Brooks, Maureen Kelly, Ruth Lee, Patricia Lyons, Adrienne Mims, and Ashton Windham were reappointed.

Pamela Cushenan is an experienced dental hygienist and educator based in Marietta, Georgia. She holds an associate of science in dental hygiene from Tennessee State University and MeHarry Medical College, a bachelor’s and master’s in health arts and training & development from the University of St. Francis, and a graduate certificate in Gerontology from Georgia State University. With over 30 years of experience in dental hygiene, Cushenan has served in various clinical roles, from private practice to teaching at Georgia State University, where she has been a faculty member since 2005. She is involved in numerous professional organizations, including the Georgia Dental Hygienists’ Association (GDHA) and the Special Care Dentistry Association (SCDA), where she has held leadership positions. Her research contributions include serving as principal investigator on studies related to oral health and aging, and she has received several accolades for her work, including the Georgia Dental Award of Merit and the 2020 Carl V. Patton President’s Award for Community Service & Social Justice. Cushenan is passionate about advancing dental hygiene through education, advocacy, and specialized care for seniors and individuals with special needs.

Elizabeth Schulze is the long-term care ombudsman program coordinator and CEO of North Georgia Programs and Services. In her role, she advocates for long-term care residents through routine facility monitoring, facility consultation, providing information and assistance to the public and other agency officials, training for facility staff, and community education. Schulze has a bachelor’s in biology and is working towards her Master of Public Administration at the University of Georgia. While earning her undergrad degree, Schulze worked as a caregiver for people with developmental disabilities and older adults. Her interest in the aging population deepened during her time as a caregiver in Assisted Living and Nursing Homes, which led her to earn an A.S. in Gerontology. She has previously held positions as program coordinator at Athens Community Council on Aging and as a Medicaid case manager for an Oregon Area Agency on Aging.

Board of Juvenile Justice

Danny Lee Blackmon and Sandra Heath Taylor were reappointed.

Gary McGiboney is executive director of the government and education program with Sharecare. Prior to his role at Sharecare, McGiboney worked for over 30 years in the advancement of education and educational services as the Deputy Superintendent at the Georgia Department of Education and as the Deputy Superintendent of Support Services for Dekalb County Schools. McGiboney has a Ph.D. in psychology from Georgia State University. Throughout his career, he has been the recipient of many awards and accolades. McGiboney currently serves on the Council of Alcohol and Drugs.

Western Circuit Public Defender Supervisory Panel

William “Billy” Rennie graduated from the University of Georgia in 2005 with a degree in speech communications and the University of Georgia School of Law in 2011. Billy began his legal career representing indigent defendants in Athens-Clarke and Oconee Counties. In 2014, Rennie opened the Law Office of William R. Rennie, LLC and joined the Law Office of Russell W. Wall, LLC as of counsel, working primarily as the firm’s lead litigator. Rennie has won jury trials in Athens-Clarke, Oconee, Greene, Morgan, Putnam, Oglethorpe, and other surrounding Counties. He is a graduate of and a former facilitator for the Oconee Chamber of Commerce’s Leadership Oconee program, and previously served on the Oconee County Chamber of Commerce’s Board of Directors, the Oconee County Arts Foundation’s Board of Directors, and the University of North Georgia Advisory Board. Billy’s hobbies include golf, soccer, and reading. He lives in Watkinsville with his wife and daughters.

Coweta Circuit Public Defender Supervisory Panel

Brian Lewis is a partner with the Kam, Ebersbach and Lewis, P.C Law Office and has been practicing there for over 20 years. He specializes in plaintiff personal injury and criminal defense. Before going into private practice, he served as an assistant district attorney for the Cowette Judicial Circuit. Lewis has a bachelor’s in finance and real estate, and a Juris Doctorate from the Emory School of Law. He is an active member of St. Paul’s Episcopal Church in Newnan, where he served two terms as senior warden and currently serves as the chair of the Strategic Planning Committee. Brian is a member of the Board of Trustees for The Heritage School and is the chair of the Governance Committee, is a former chairman of the Board of Trustees for the Carolyn Barron Montessori School in Newnan, and supports local organizations and charities, such as The Coweta Samaritan Clinic, One Roof, Coweta Food Pantry, and the Lindsey Riggs Memorial Foundation.

Georgia Board of Private Detective and Security Agencies

Pamela Griggs, Tripp Mitchell, and Joel Peacock were reappointed.

David Sawyer is a forensic accountant and financial crimes investigator with extensive experience in both civil litigation and criminal prosecution. Sawyer currently works for Sawyer & Company as a private investigator. With over 300 investigations involving fraud, corruption, financial damages, and various legal disputes, he has provided expert witness testimony in more than 20 cases. He has also contributed to the development of software designed to detect fraud, waste, and white-collar crime, and has advised on global initiatives to combat issues such as economic espionage, terrorist financing, and money laundering. Sawyer attended the University of Auburn and received a bachelor of science in accounting. He has had roles as a partner at a top 50 regional CPA/advisory firm and a managing consultant with two big four accounting firms. He also has experience as an internal auditor for Fortune 500 companies. Additionally, Sawyer is a licensed private investigator. He is an active member of several professional organizations, including the Georgia Chapter of Certified Fraud Examiners, the Georgia Society of CPA’s Fraud and Forensic Services Advisory Council, and the Association of Certified Anti-Money Laundering Specialists (ACAMS). He also serves as co-chairman of the Atlanta Chapter of ACAMS and is on the Executive Committee of Business Executives for National Security (BENS). A graduate of Auburn University, Sawyer has also served as an adjunct professor and guest lecturer on fraud examination and forensic accounting.

Stone Mountain Memorial Association

Joan Thomas was reappointed.

Georgia Board of Landscape Architects

Betsey Norton and Jon Williams were reappointed.

State Licensing Board for Residential and General Contractors

Devell Frady is the owner of Devell Frady Homes. He is a custom home builder based out of Ellijay. Frady has been in the construction business for over 20 years. He is the former president of the Georgia High Country Builders Association and has extensive knowledge of the licensing and permit process.

North Georgia Mountains Authority

Charles DePriest serves as the executive vice president of Summit Materials’ East Segment. He brings more than 25 years of extensive experience in finance, operations, and executive leadership to his role. In 2016, he co-founded Georgia Stone Products, a construction materials producer in Georgia. Georgia Stone Products was acquired by Summit Materials in 2017 and has emerged as a cornerstone component in Summit’s greenfield growth strategy. His previous roles at Summit include East Region CFO, Leader of Enterprise Standardization, and Central Region President. A veteran of the U.S. Army, Charles holds a bachelor of professional accountancy from Mississippi State University, an MBA from Mercer University, and is an active CPA and Chartered Global Management Accountant. DePriest is an at-large representative on the Board of Natural Resources.

Mark Hennessey works for Hennessy Automobile Cos. in Atlanta, Georgia. Hennessy has served on the Board of Trustees for the Marist School in Atlanta and is a member of the Buckhead Coalition. He served on the first BRAC Commission for Fort McPherson. He was a member of the North Fulton CID for over eight years. He had the pleasure to serve on the Board of the Technical College System of Georgia from April 2020 until spring of 2023, when he was appointed to serve on the Board of Natural Resources.

Lesley Reynolds is the chair of the Board of Natural Resources. She is a native of Baldwin County, Georgia, and a graduate of Georgia Military College and Georgia College and State University. Reynolds taught elementary school at Midway Elementary in Milledgeville. She has and is engaged with several organizations that focus on education, Judeo-Christian values, and women’s safety and security.

Harley Yancey is the president of State Mutual Insurance Company in Rome, Georgia, where he also serves on the company’s Board of Directors. He joined State Mutual in 2018 after practicing law at Brinson, Askew, Berry, Seigler, Richardson & Davis, LLP. Prior to becoming president, he served as the company’s general counsel and now manages its day-to-day operations. Yancey holds a bachelor of business administration from the University of Georgia’s Terry College of Business, a Juris Doctor from the University of Georgia School of Law, a master of laws from the University of Alabama School of Law, and a master of business administration from the University of North Carolina. Outside of his role at State Mutual, Yancey is the chairman of the Georgia Life & Health Insurance Guaranty Association, a director for the Oklahoma Life & Health Insurance Guaranty Association, and serves on the Board of Directors for United Community Bank of Rome. He is also involved with the YMCA Board of Trustees, the Darlington School Alumni Council, and the Georgia School of Law Alumni Council. He is the 14th Congressional District representative on the Board of Natural Resources.

Georgia Commission for the Deaf and Hard of Hearing

Chelsea Tehan was reappointed.

Stormey Cone is currently the director of the deaf and hard of hearing family engagement and education program at the Georgia Department of Education. Cone is particularly passionate about ensuring access to services in rural Georgia and has a wealth of experience in the education of deaf and hard of hearing students, especially those enrolled in rural school districts. Cone is a former educator that worked with deaf and hard-of-hearing students in public schools for many years. Recently, she has specialized in improving Georgia’s early identification and intervention for young deaf and hard-of-hearing infants. Cone was the inaugural parent navigator for the Georgia Mobile Audiology, traveling around the state to develop a better understanding of parents’ experiences with diagnosing infants with hearing loss.

Russell Fleming has held many leadership positions in agencies that serve deaf and deafblind communities. Among other positions, he was state coordinator for Vocational Rehabilitation Services for the deaf, hard of hearing, and deafblind consumers and dean of students and interim superintendent at the Georgia School for the Deaf. In his retirement, he serves as vice president of the Georgia Association of the Deaf and works part time as a deafblind Specialist.

Byron Smith is the father of a deaf child who uses ASL. He and his wife are hearing and had no contact with the deaf community before adopting their daughter. They are learning ASL as adults to provide the best language and learning environment for their daughter. He has been a fire fighter since 1993, working for U.S. Army, the U.S. Navy, the U.S. Airforce, and the National Park Service.

DeAnna Swope has held several positions of leadership in the deaf community. She currently works in the field of domestic violence where she educates hearing agencies on how to offer more culturally and linguistically accessible services for deaf and hard of hearing survivors of domestic violence survivors. Swope has received accolades, such as the prestigious Gender Justice Award from the Georgia Commission on Family Violence as well as Collaborate awards from the Georgia Coalition Against Domestic Violence. In 2020, she was honored with a distinguished deaf community leader position at Hamilton Relay. She is a past president of the Georgia Association of the Deaf.

State Forestry Commission

Ken Sheppard was reappointed.

State Board of Occupational Therapy

Deborah Hinerfeld is the owner and director of Tic Tok Occupational Therapy Services in Roswell, GA. Hinerfeld holds a Ph.D. in Health Science with a concentration in health care administration and public policy from Trident International University. She also earned a master’s in health care policy and administration from Mercer University and a bachelor’s in occupational therapy from Utica College. Hinerfeld has extensive experience in occupational therapy, having worked in various roles including private practice owner, adjunct professor, and staff therapist at several institutions. She holds certifications in sensory integration, behavioral intervention for tics, hippotherapy, and youth mental health. Additionally, she has contributed to research, presented at numerous conferences, and held leadership positions within professional organizations such as the American Occupational Therapy Association.

Georgia Superior Court Clerks’ Cooperative Authority

Trevor Addison is the clerk of Putnam County’s Superior and Juvenile Courts and has since taken on additional roles as clerk of State Court, Juvenile Court, appeal administrator to the Board of Equalization, and jury manager. Previously, Addison served as a commissioner for Putnam County. During his tenure he served on multiple boards, including the Sinclair Water Authority and the Central Georgia Joint Development Authority, and was appointed vice chairman of the Board of Commissioners. He also serves as treasurer of the Putnam County Law Library Board of Trustees and is active on the Putnam General Hospital Foundation Board, the Legislative Committee of the Georgia Superior Court Clerk Cooperative Authority, and the Executive Board of the Putnam County Republicans. Trevor remains dedicated to serving his community at both the local and state levels.

Board of Directors of the Georgia Regional Transportation Authority

Dick Anderson, Frank Auman, Jace Brooks, William Tate, Jr. and BobVoyles were reappointed.

Himanshu Karnwal is the founder and CEO of ISHTECH INC, an IT Solutions architecture and design company that has been successfully operating for over 12 years. With 25 years of experience in the information technology industry, he has worked alongside Fortune 100 companies, including Sony Pictures, NBC Universal, eBay, and Nike, helping to design and manage global IT infrastructures. In addition to his business achievements, Karnwal is an active community leader. He serves as a planning commissioner for Johns Creek and is a member of the board of directors for the Johns Creek Chamber of Commerce. He is also involved with several other organizations, including Rotary Johns Creek North Fulton and the advisory boards of Quantiphi and Waypoint 2 Space. Karnwal is a strong advocate for the Indian and Asian communities in North Fulton, Johns Creek, and South Forsyth. He is the founder and chairman of a National Indian Association in the greater Atlanta area and serves on the board of the Georgia chapter of U.S. Impact, an organization that represents the Indian American community.

Jai Bum Park immigrated to the United States from Korea in the late 1980s and quickly transitioned into the telecommunications industry. He made the decision to leave college and focus on growing his business, starting in Chicago and later expanding his operations. In the early 2000s, Park relocated to Georgia, where he became a Master Coin Operated Amusement Machine (COAM) license holder and played a key role in generating millions of dollars for the Georgia Lottery Corporation, supporting the Georgia HOPE Scholarship. In 2009, Park served as chairman of the Korean Association of Augusta, working to integrate Korean-Americans into American society. In addition to his business endeavors, he has invested in real estate across Georgia. A strong believer in the concept of the “whole person,” Park is committed to personal growth and fostering meaningful connections.

State Board of Pharmacy

Michael Azzolin was reappointed.

Board of Directors of the Georgia Lottery Corporation

Missy Burgess was reappointed.

Board of Economic Development

Sandra Bland is the president of Vidalia Brands, Inc. and director of marketing for Bland Farms, where she has been instrumental in popularizing the Vidalia Sweet Onion. Her innovations include incorporating Vidalia onions into processed foods and expanding their reach across the U.S. Bland’s early entrepreneurial efforts included running a mail-order business that helped Vidalia onions gain widespread recognition. Under her leadership, Vidalia Brands champions sustainability by minimizing food waste. Before her role at Bland Farms, she attended College of Coastal Georgia where she received a degree in nursing. Bland built a career in healthcare, holding significant nursing positions. She is actively involved in Southern Roots Women in Produce and supports various philanthropic causes, including St. Jude Children’s Research Hospital. Bland, a devoted community member and family matriarch, resides in St. Simons Island with her husband, Delbert, and their three children and ten grandchildren.

Board of Corrections

Bruce Carlisle, Donnie Pope, W.D. Strickland and Rose Williams were reappointed.

Chris Clark will now serve as the Seventh Congressional District Representative.

Luis Solis will now serve as the Ninth Congressional District Representative.

Ester Fleming will now serve as the Thirteenth Congressional District Representative.

Barry Babb will now serve as an At-Large Representative.

Stacy Jarrard will now serve as an At-Large Representative.

Kellie Brownlow is the VP of development and community relations at First Step Staffing. First Step Staffing is a 501C3 that uses an alternative staffing model to provide individuals who are homeless, citizens returning from prison, and veterans with immediate employment. Brownlow is responsible for community partnerships and resource development in all five states in which the company has offices, including the headquarter office in Atlanta. Previously, she served as the executive director of the Georgia Alliance of the Boys & Girls Clubs. Before joining Boys & Girls Clubs, Brownlow was the deputy chief to the Cobb County Commission Chairman and director of economic development for Partnership Gwinnett. She holds a bachelor’s degree in communications and political science from Rhode Island College and a master’s degree in public administration for the University of Georgia. Brownlow serves on the State Workforce Development Board. She lives in DeKalb County with her husband and two daughters.

Rodney Bryant is a retired law enforcement executive with over 34 years of law enforcement experience. Bryant has held numerous key roles, culminating in his position as Chief of Police for the Atlanta Police Department. Throughout his career, he has demonstrated expertise in a wide range of areas including community engagement, crime reduction, crisis management, and public safety leadership. Known for his strong communication, negotiation, and strategic planning skills, he has successfully led teams, improved community relations, and managed multi-million-dollar budgets. Bryant’s achievements include serving as the President of the National Organization of Black Law Enforcement Executives, overseeing the security operations for Hartsfield-Jackson Atlanta International Airport, and managing large-scale events such as the College Football Playoff Championship and Super Bowl LIII. Bryant holds a master of science in administration from Central Michigan University and a bachelor of science in criminal justice from Georgia State University. He is also a graduate of various prestigious law enforcement leadership programs, including the Police Executive Leadership Institute and the FBI LEEDA.

Georgia Rural Development Council

Betts Berry, Gabe Evans, Jim Matney, and Stuart Rayfield were reappointed.

Bárbara Rivera Holmes is president and CEO of the Albany Area Chamber of Commerce. Holmes is likewise CEO of the Albany Area Chamber Foundation. In 2018, Holmes was appointed by then Georgia Gov. Nathan Deal to serve on the Board of Regents of the University System of Georgia, for which she chaired the Committee on Economic Development. In 2020, Holmes was appointed by then Georgia Lt. Gov. Geoff Duncan to co-chair the Rural Initiatives Subcommittee of the Georgia Innovates Task Force to help design the state’s innovation blueprint. Holmes is a former journalist whose work has earned four awards for excellence in journalism from the Georgia Associated Press. Prior to her role at the Albany Area Chamber, Holmes was vice president of the Albany-Dougherty Economic Development Commission, where she developed the organization’s business retention and expansion program to facilitate existing industry job creation and capital investment in Albany-Dougherty County, and its marketing programs. Holmes is a 2014 graduate of Leadership Georgia, and served on the organization’s Board of Trustees; a 2022 participant of the U.S. Chamber Foundation Business Leads Fellowship Program; and a 2023 graduate of the U.S. Chamber Foundation’s Institute for Organization Management. She serves on the boards of the Georgia Chamber of Commerce and the Commodore Conyers College and Career Academy. She graduated from Florida Southern College in Lakeland, Florida, with degrees in journalism and in Spanish. She continued her studies at Estudio Sampere Internacional in Madrid and Alicante, Spain. She lives in Albany with her husband, David, and their daughter.

Sheriff’s Retirement Fund

Dan Kilgore is the elected Sheriff of Upson County, a position he has held since January 2013. With over 40 years of experience in law enforcement, Kilgore’s career has spanned a variety of roles, including serving as a sheriff’s deputy, city police officer, county police officer, and district attorney’s investigator. Prior to his election as Sheriff, he dedicated more than 21 years of service as the chief deputy sheriff of Upson County. Kilgore is deeply involved in the law enforcement community and holds several leadership positions. He serves as vice chairman on the Board of the Peace Officer’s Annuity and Benefit Fund and is an advisory member of the Georgia POST Council. Additionally, he is the Georgia Sheriff’s Association Area 4 regional vice president. In 2023, he earned his certification as a retirement plan fiduciary, awarded by the Georgia Association of Public Pension Trustees. Outside of his professional endeavors, Kilgore is a devoted family man, married to his wife, Renae, and the proud father of three adult children and one grandson. The Kilgore family are active members of the First Methodist Church of Thomaston.

Horace “Billy” Hancock started his career in public safety in 1976, and he is currently serving his 3rd term as Sheriff of Crisp County. He has also served as the emergency management director of Crisp County since 2014. Hancock began his career as an emergency medical technician with Crisp County EMS. He has spent over 40 years in law enforcement, first sworn in in 1979 as a part-time deputy with the Crisp County Sheriff’s Office. He later went to work for the Georgia State Patrol. He returned to the Crisp County Sheriff’s Office in 1990. He held the position of chief deputy for 19 years and served as the deputy director of the Crisp County Emergency Management Agency for 14 years. He is a graduate of the 57th Georgia State Patrol Academy. He has an associate degree in criminal justice, a master’s certificate in emergency management, and a bachelor’s from Columbia Southern University in homeland security. Hancock was appointed and has served as a board member of the Georgia Peace Officer’s Standards and Training Council (the ABAC Region). He is past vice president of the Georgia Peace Officers Association and is an active member of both the Georgia and National Sheriff’s Association. He continues to teach on the state and federal levels. Hancock began serving as a lion with the Cordele Lions Club in 2001 and has received numerous awards from the organization. In 2018, Governor Nathan Deal appointed Hancock to the Georgia Emergency Communications Authority (GECA) Board. Hancock was also reappointed to the GECA Board by Governor Brian Kemp. Hancock is a member of the Cordele Church of Christ.

Frank Reynolds was sworn into office on January 1, 2017, as the 39th Sheriff of Cherokee County, Georgia. Reynolds has been a resident of Cherokee County since 1981. He began his law enforcement career in 1994 with the Cherokee Sheriff’s Office. Reynolds is committed to serving Cherokee County with honesty, transparency, and integrity. As a Georgia Constitutional Officer, Reynolds is mandated to oversee warrant service and civil process, maintain the adult detention center, courthouse security and provide general law enforcement within Cherokee County. He is a graduate of Riverside Military Academy, earned a bachelor’s degree from Reinhardt University and holds a master of public administration from Columbus State University. Reynolds is a graduate of the FBI National Academy in Quantico, Virginia class 244, and the Georgia Law Enforcement Command College. He is married to Dr. Jennifer DeBord Reynolds and is the proud father of three.

Georgia Technology Authority

Marie Mouchet is an accomplished technology and cybersecurity executive currently serving as a member of the Board of Advisors for Mimic and HData and managing director of Mouchet Ventures LLC. Her extensive experience and leadership on various boards demonstrates her exceptional talent and commitment to driving innovation and education across industries and also exemplifies her dedication to leveraging her knowledge and insights to make a positive impact in the community. Previous roles include senior vice president and CIO at Colonial Pipeline Company, where Mouchet led technology strategy and operations across both IT and OT domains, vice president and CIO at Southern Company Operations & Southern Nuclear, and director of financial and contract services at Southern Company’s Southern Wholesale Energy. She has served in various board positions, including board advisor and chairman of Georgia CIO and board secretary of the Women In Technology (WIT) Foundation. Marie holds advanced degrees from Georgia State University and completed executive education at the Stanford University Graduate School of Business. Her remarkable contributions to the industry and community led to her being honored with the highly regarded and prestigious Ed Steineke CIO Award by TechBridge in 2020.

Board of Commissioners of the Judges of the Probate Courts Retirement Fund of Georgia

Annie Doris Holder has served as the Probate and Chief Magistrate Judge of Calhoun County for the past 24 years, dedicating her career to providing fair and courteous service to the citizens of her community. A committed public servant, she strives to ensure that all individuals receive just and equitable treatment under the law. Holder is a proud graduate of Calhoun County High School and holds an associate degree from Darton College, a bachelor’s degree from Albany State University, and a master’s degree from LaGrange College. Beyond her judicial responsibilities, she is actively engaged in community service. She currently serves as the president of the missionary department of the Southwest Georgia Missionary Baptist Association, the district associate matron of Cuthbert District #13 OES, and a board member of Albany Technical College. Holder is married to Rev. Julian Holder and they share three daughters, as well as nine beloved grandchildren.

State Board of Veterinary Medicine

Matthew Bradley and Wendy Cuevas-Espelid were reappointed.

Seth Stowers grew up on a small family farm in Dawsonville, Georgia. In 2005, he began his own small beef cattle operation that he continues to grow today. Stowers graduated from the University of Georgia in 2014 where he received a bachelor of science in poultry science. While at UGA he was active in UGA Cattleman’s Association, Block and Bridle, UGA Poultry Science Club, and competed on UGA’s Poultry Judging Team. Dr. Stowers attended the University of Georgia College of Veterinary Medicine where his studies were emphasized in food animal medicine and production. He graduated with his doctor of veterinary medicine in 2018. Throughout the curriculum at UGA CVM, he lived and worked at Rose Creek Farm, UGA’s Veterinary School farm. To gain a better knowledge and develop his skills in cattle medicine he completed externships at Krebs Ranch in Nebraska and bovine veterinary practices in Texas, West Virginia, North Carolina, and Georgia. Stowers began Hillside Veterinary Services in May of 2018. His professional interests encompass anything involving beef cows, especially herd health and preventative medicine. Stowers is excited to have an opportunity to give back to FFA and 4-H, two programs that provided him with numerous opportunities, through working with local youth. In 2023, he was elected to serve as the district 1 Commissioner on the Dawson County Board of Commissioners.

John Tarabula is a seasoned veterinary professional with over 30 years of experience in small animal and exotic medicine. He earned his D.V.M. and B.S. degrees from the University of Georgia and has served as the medical director at the Animal Medical & Surgical Center in Canton, Georgia, since 1988. Additionally, he is the owner of Creekside Animal Hospital in Cumming, Georgia, where he has been practicing since 2015. Tarabula’s extensive career also includes roles as an associate veterinarian at Beach St. John Animal Hospital in Jacksonville, Florida, and as an emergency clinician at Jacksonville Veterinary Emergency Clinic. Beyond clinical practice, Tarabula is actively involved in professional service, having served on the Board of Directors for Cobb and Cherokee Emergency Veterinary Clinics, as well as holding leadership positions within the Georgia Veterinary Medical Association. He also has a history of public service, having been a city councilman and Mayor Pro-Tem in Holly Springs, Georgia. Tarabula has participated in medical missions with the Flying Doctors of America, providing veterinary care in Ecuador, Peru, and Bhutan.

OneGeorgia Authority Overview Committee

Senator Larry Walker, III and Representative Butch Parrish were reappointed.

Georgia Board of Behavior Analyst Licensing Board

Christina “Nina” Holland is an experienced office administrator with nearly 20 years of expertise in managing operations both in-office and remotely. She has spent eight years with ICB Construction Group, overseeing contracts, financial management, and accounts, and has worked with Southern Structures Fencing for the past decade. In addition to her professional success, Holland is a passionate advocate for children with autism. After recognizing early on that her son had unique needs, she became dedicated to navigating complex medical and governmental systems to ensure her son received the therapies and care required for his development. Holland’s personal journey through autism advocacy has fueled her desire to help other families, offering support in early intervention, Medicaid, and ABA therapy, while striving to improve access to essential services for children in need.

Board of Public Safety

Neal Jump is currently serving his fourth term as the Sheriff of Glynn County. Jump has been in law enforcement since he was 17 years old. Prior to being elected sheriff, Jump worked with the Georgia State Patrol for more than 30 years, beginning his career as a radio operator in 1975. Jump studied criminal justice at South Georgia College.

Georgia Board of Nursing

Lydia Watkins is the Dean of the School of Nursing and Health Sciences at College of Coastal Georgia, as well as a professor of nursing. She has worked as a registered nurse since 1997, first in pediatric hematology/oncology at the Children’s Hospital of Alabama, and then as a pediatric hematology/oncology nurse practitioner at Sparrow Health System in Lansing, Michigan. She was an adjunct instructor with the Department of Pediatrics and Human Development at Michigan State University’s College of Human Medicine prior to joining the faculty at College of Coastal Georgia. Since joining the college, Watkins has served in other roles such as the BSN program coordinator, interim program director of radiologic sciences, and chair of nursing and health sciences, prior to becoming the dean. Watkins holds a doctor of nursing practice from the University of Alabama at Birmingham, a master of science in nursing from the University of Alabama at Birmingham, a bachelor of science in nursing and an associate of science in nursing from Samford University. She is also a certified nurse educator (CNE) through the National League for Nursing.

Metropolitan Atlanta Rapid Transit Overview Committee

Senator Tonya Anderson, Senator Steve Gooch, Representative Demetrius Douglas, Representative Scott Hilton, and Representative Martin Momtahan were reappointed.

Senator Sonya Halpern represents Senate District 39 and is the Minority Caucus Vice Chair. Halpern was elected to the General Assembly in 2020. She is the vice chair for the Committee on Urban Affairs and a member of Senate Appropriations, the Committee on Banking and Financial Institutions, the Committee on Education and Youth, the Committee on Health and Human Services, and the Committee on Public Safety.

Soil and Water Conservation Commission

Jim Waters is a local farmer from Blackshear, Georgia. He is the elected Pierce County Supervisor for Satilla River Conservation District. He also serves as the chairman. He is a full-time farmer, planting crops that consist of cotton and peanuts. He is passionate about educating the community on conservation efforts and farmers on good conservation practices to protect our croplands.

Nonpublic Postsecondary Education Commission

P.K. Martin, Doug Roper, Jim Squire, and Pranay Udutha were reappointed.

Michael Foor is the president of state operations for Georgia for Kinetic. Foor previously served as vice president of state government affairs in Georgia, building relationships with legislators, electric cooperatives, and communities to support the deployment of rural broadband. Prior to joining Kinetic, Foor was the president of Georgia Communications Cooperative and part of Habersham Electric Membership’s efforts to build fiber-to-the-premise broadband service to communities in North Georgia. In addition to his responsibilities at Kinetic, Foor currently serves as chair for White County Development Authority and is a past president of Habersham Rotary Club, where he remains an active member. Foor holds an M.B.A. from Brenau University. He lives in Cleveland with his wife. They have three daughters and twin grandsons

MIL OSI USA News –

February 11, 2025

MIL-OSI: Ormat Commences Commercial Operation of 35 MW Ijen Geothermal Facility in Indonesia, Delivering Low Carbon Geothermal Power

Source: GlobeNewswire (MIL-OSI)

RENO, Nev., Feb. 10, 2025 (GLOBE NEWSWIRE) — Ormat Technologies Inc. (NYSE: ORA), a leading geothermal and renewable energy company, today announced the successful commencement of commercial operations (COD) for the 35MW Ijen geothermal power plant. The power plant is jointly owned with PT Medco Power Indonesia (“Medco Power”), through their subsidiary company, PT Medco Cahaya Geothermal (“MCG”). Ormat’s share of the facility is 17MW. This is the first geothermal power plant in East Java, Indonesia, contributing to Indonesia’s plan for an additional 7.2 GW of geothermal capacity by 2035.

The Ijen Geothermal Power Plant, equipped with Ormat Energy Converter (“OEC”), began operations with its first phase, delivering 35 MW of electricity power to the Java grid. The commencement of this first phase marks a significant step of the Ijen Facility, which has a total planned capacity of 110 MW under a 30-year power purchase agreement.

MCG, a jointly owned company between Medco Power (51% equity share) and Ormat Technologies (49% equity share), will operate the Ijen geothermal facility.

Doron Blachar, Chief Executive Officer of Ormat Technologies, stated, “We are pleased to announce the commencement operations of the Ijen geothermal facility. The launch of the Ijen facility is a key step in our strategy to consistently and accretively grow our leading global geothermal energy portfolio and expand our presence in Indonesia. Indonesia has one of the largest geothermal potentials globally and with the geothermal targets set by the Indonesian government, we plan to expand our operations in the country. Achieving COD at Ijen demonstrates our strong development capabilities and our commitment towards advancing our short and long-term growth targets in our Electricity segment. We look forward to supporting Indonesia’s goal of increasing geothermal deployment and aiding in their efforts to achieve net zero emissions.”

ABOUT ORMAT TECHNOLOGIES

With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company, and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,400MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company’s activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat’s current total generating portfolio is 1,537MW with a 1,247MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 290MW energy storage portfolio that is located in the U.S.

ORMAT’S SAFE HARBOR STATEMENT

Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such matters as our projections of annual revenues, expenses and debt service coverage with respect to our debt securities, future capital expenditures, business strategy, competitive strengths, goals, development or operation of generation assets, market and industry developments and the growth of our business and operations, are forward-looking statements. When used in this press release, the words “may”, “will”, “could”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, or “contemplate” or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. These forward-looking statements generally relate to Ormat’s plans, objectives and expectations for future operations and are based upon its management’s current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Actual future results may differ materially from those projected as a result of certain risks and uncertainties and other risks described under “Risk Factors” as described in Ormat’s annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 23, 2024, and in Ormat’s subsequent quarterly reports on Form 10-Q that are filed from time to time with the SEC.

These forward-looking statements are made only as of the date hereof, and, except as legally required, we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Ormat Technologies Contact:
Smadar Lavi
VP Head of IR and ESG Planning & Reporting
775-356-9029 (ext. 65726)
slavi@ormat.com

Investor Relations Agency Contact:
Joseph Caminiti or Josh Carroll
Alpha IR Group
312-445-2870
ORA@alpha-ir.com

The MIL Network –

February 11, 2025

MIL-OSI: Paradigm Oil and Gas Partners with Hallmark Venture Group to Drive Scalable Revenue Growth
Source: GlobeNewswire (MIL-OSI)

Key Highlights:
- Strategic Partnership Announcement: Paradigm Oil and Gas, Inc. (OTC: PDGO) has engaged Hallmark Venture Group, Inc. (OTC: HLLK) to develop scalable revenue strategies and enhance digital operations.
- Revenue Growth & Digital Expansion: The collaboration aims to optimize lead generation, implement revenue-driving strategies, and develop new digital infrastructure for sustained business growth.
- Operational Management & Market Positioning: Hallmark Venture Group will oversee website development, traffic acquisition, lead generation, public relations, and administrative management to enhance monetization efforts.
- AI-Driven Business Solutions: The partnership leverages Hallmark’s AI-driven marketing and consulting expertise to create innovative business models that increase profitability.
- Scalable & Sustainable Business Model: Paradigm Oil and Gas expands beyond traditional operations by exploring digital and third-party service integrations to maximize shareholder value.
- Investor & Market Outlook: The initiative aligns with evolving market demands, ensuring long-term financial stability and operational efficiency.
NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Paradigm Oil and Gas, Inc. (OTC: PDGO) expands its revenue potential by engaging Hallmark Venture Group, Inc. (OTC: HLLK) to enhance digital operations and implement scalable revenue strategies. This strategic partnership is designed to optimize lead generation, strengthen market positioning, and maximize profitability through AI-driven solutions and digital infrastructure.

Accelerating Digital Growth and Revenue Optimization

Paradigm Oil and Gas is committed to diversifying revenue streams beyond traditional operations. By leveraging Hallmark Venture Group’s expertise, the Company will implement advanced digital strategies, optimize monetization efforts, and develop high-quality traffic acquisition models.

Hallmark Venture Group will oversee key operational areas, including:
- Website Development & Digital Infrastructure – Enhancing user experience and optimizing engagement.
- Traffic Acquisition & Lead Generation – Deploying AI-driven marketing strategies for high-quality conversions.
- Public Relations & Market Outreach – Strengthening brand visibility and investor relations.
- Administrative & Operational Management – Streamlining business processes for improved efficiency.
AI-Powered Solutions for Market Expansion

Hallmark Venture Group specializes in AI-driven consulting and revenue growth solutions. Through this collaboration, Paradigm Oil and Gas will integrate data-driven marketing techniques, predictive analytics, and automated lead generation tools to drive long-term financial sustainability.

Strategic Growth & Shareholder Value Enhancement

This initiative aligns with Paradigm Oil and Gas’s mission to explore innovative business models that create sustainable growth. By embracing digital transformation and AI-powered strategies, the Company aims to increase shareholder value and remain competitive in evolving market conditions.

About Paradigm Oil and Gas, Inc.

Paradigm Oil and Gas, Inc. (OTC: PDGO) is a publicly traded company focused on optimizing revenue generation and expanding its market opportunities. The Company actively pursues strategic partnerships and digital initiatives to drive profitability and long-term business growth.

About Hallmark Venture Group, Inc.

Hallmark Venture Group, Inc. (OTC: HLLK) is a digital marketing and consulting firm specializing in AI-driven strategies, lead generation, and scalable revenue solutions. The Company’s proprietary platforms help businesses enhance digital growth, optimize customer acquisition, and improve market positioning.

Safe Harbor Statement

Safe Harbor This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words ”may”,”would”, ”will”, ”estimate”, ”can”, ”believe”, ”potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in the Company’s filings with the Securities and Exchange Commission and/or OTC Markets.

For Media & Investor Inquiries:

Website: https://pdgoinc.net/
Email: info@pdgoinc.net
X (formerly Twitter): @PDGOinc

The MIL Network –
February 11, 2025
MIL-OSI: Australian Oilseeds Announces First Quarter Fiscal 2025 Financial Results
Source: GlobeNewswire (MIL-OSI)

COOTAMUNDRA, Australia, Feb. 10, 2025 (GLOBE NEWSWIRE) — Australian Oilseeds Holdings Limited, a Cayman Islands exempted company (the “Company”) (NASDAQ: COOT) today announced financial results for its first quarter fiscal 2025 ended September 30, 2024.

First Quarter Fiscal 2025 Financial Highlights Compared to Prior Year
- Sales revenue increased 6.1% to A$10.4 million due to strong demand for the Company’s cold pressed canola oil.
- Retail oil revenue increased 59.9% to A$5.7 million due to expanded distribution in leading retailers in Australia along with the addition of several new SKUs.
- Net loss of A$0.6 million compared to net income of A$1.4 million, reflecting changes to sales mix along with the timing of planned investments in brand and marketing to support our GEO products.
- Cash flow from operations improved to A$0.6 million compared to a use of A$1.5 million.
“We delivered exceptionally strong growth in our retail oils business during the first quarter driven primarily by our expanded distribution in Costco and Woolworths in Australia, ” said Gary Seaton, Chief Executive Officer. “We also benefited from three new SKUs that were launched in coordination with focused, integrated marketing campaigns across our key retail partners. While margins and profitability were impacted by the timing of our investments in branding initiatives during the quarter, as planned, we believe we are still well positioned to drive improving results as our business continues to grow and scale. We remain steadfast in our commitment to eliminating chemicals from the edible oil production and manufacturing systems to supply quality products such as non-GMO oilseeds and organic and non-organic food-grade oils to customers globally.”

About Australian Oilseeds Investments Pty Ltd. Australian Oilseeds Investments Pty Ltd. is an Australian proprietary company that, directly and indirectly through its subsidiaries, is focused on the manufacture and sale of sustainable oilseeds (e.g., seeds grown primarily for the production of edible oils) and is committed to working with all suppliers in the food supply chain to eliminate chemicals from the production and manufacturing systems to supply quality products to customers globally. The Company engages in the business of processing, manufacture and sale of non-GMO oilseeds and organic and non-organic food-grade oils, for the rapidly growing oilseeds market, through sourcing materials from suppliers focused on reducing the use of chemicals in consumables in order to supply healthier food ingredients, vegetable oils, proteins and other products to customers globally. Over the past 20 years, the Company’s cold pressing oil plant has grown to become the largest in Australia, pressing strictly GMO-free conventional and organic oilseeds.

Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, business strategy and plans, market trends and market size, opportunities and positioning. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall” and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. For example, global economic conditions could in the future reduce demand for our products; we could in the future experience cybersecurity incidents; we may be unable to manage or sustain the level of growth that our business has experienced in prior periods; our financial resources may not be sufficient to maintain or improve our competitive position; we may be unable to attract new customers, or retain or sell additional products to existing customers; we may experience challenges successfully expanding our marketing and sales capabilities, including further specializing our sales force; customer growth could decelerate in the future; we may not achieve expected synergies and efficiencies of operations from recent acquisitions or business combinations, and we may not be able to pay off our convertible notes when due. Further information on potential factors that could affect our financial results is included in our most recent Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. The forward-looking statements included in this press release represent our views only as of the date of this press release and we assume no obligation and do not intend to update these forward-looking statements.

Contact
Australian Oilseeds Holdings Limited
126-142 Cowcumbla Street
Cootamundra New South Wales 2590
Attn: Bob Wu, CFO
Email: bob@energreennutrition.com.au

Investor Relations Contact
Reed Anderson
(646) 277-1260
reed.anderson@icrinc.com

The MIL Network –
February 11, 2025
MIL-OSI: Wärtsilä introduces next-generation engine to balance renewables and improve power plant performance
Source: GlobeNewswire (MIL-OSI)

HOUSTON, Feb. 10, 2025 (GLOBE NEWSWIRE) — Technology group Wärtsilä launches today its next generation 46TS engine, which is designed to balance renewable energy, provide highly efficient baseload power, and can run on sustainable fuels in future.

The Wärtsilä 46TS large-bore engine has evolved from a long line of proven and reliable power plant engines, including the Wärtsilä 50 engine platform. The W50 engine is one of the world’s most successful power generating engines of all time, having delivered 55 million running hours around the world since 2008.

Using balancing engines to support intermittent renewables is a more viable path towards a net zero power system than a renewables-only pathway. Balancing power can reduce costs, emissions, and land use, as revealed in Wärtsilä’s recent global power system modelling report, Crossroads to Net Zero, which detailed the vital role of balancing power in delivering the energy transition.

Anders Lindberg, President of Wärtsilä Energy, says: “The energy transition cannot be achieved by renewable power alone – we need flexible, highly efficient engines to support wind and solar power during times of low generation. The flexible 46TS engine offers exactly that, expanding our existing technology offering to balance renewables and operate cost- effectively on baseload power.

“This engine is built on our 85 years of engine expertise, incorporating everything we have learned to develop our latest and greatest solution.”

The Wärtsilä 46TS is designed with sustainable fuels in mind, to ensure that when they become readily available, these engines can play an essential role in delivering 100% renewable power systems.

The engine provides a myriad of benefits for power producers, including:
- Next level efficiency and performance: Significantly improved over 51% engine efficiency saves fuel and reduces emissions, with excellent performance in extreme ambient conditions and at high altitudes.
- Improved output: The 46TS generates 23.4 MW/unit, meaning that fewer engines are needed to achieve large plant sizes.
- Greater flexibility: Rapid response to fluctuations with even faster ramp-up time (2 minutes) and no minimum up- or down-time requirements.
- Fast and cost-efficient installation: Fast and easy modular plant installation with high-quality, factory-tested modules bringing significant savings in total installed cost.
To support the W46TS, Wärtsilä provides tailored high-quality services to maximise reliability and profitability. Wärtsilä Lifecycle services, with optimised operations and guaranteed performance, ensure the power plant’s performance and competitiveness. A technical service network provides expertise and support near customer and via remote monitoring.

The Wärtsilä 46TS engine will be available from 2025. Last month, Wärtsilä announced the first order for the 46TS engines placed by Kazakhstan Caspian Offshore Industries (KCOI). The engines will support KCOI’s new 120 MW power plant and additionally, the first hybrid power project of its kind in Kazakhstan, which integrates the engine power plant with wind and solar power.

Media kit

Media contacts:

Katri Pehkonen
Communications Manager
Wärtsilä Energy
Mob: +358 50 591 6180
katri.pehkonen@wartsila.com

Elena Hale
Wärtsilä Energy
Mob: +1 865 329 0553
elena@piper-communications.com

All Wärtsilä releases are available at www.wartsila.com/media/news-releases and at news.cision.com/wartsila-corporation where also the images can be downloaded. Use of the image(s) is allowed only in connection with the contents of this press release. Wärtsilä images are available at www.wartsila.com/media/image-bank.

Wärtsilä Energy in brief
Wärtsilä Energy is at the forefront of the transition towards a 100% renewable energy future. We help our customers and the power sector to accelerate their decarbonisation journeys through our market-leading technologies and power system expertise. Our solutions include flexible engine power plants, energy storage and optimisation technology, and services for the whole lifecycle of our installations. Our engines are future-proof and can run on sustainable fuels. Our track record comprises of 79 GW delivered power plant capacity and over 130 energy storage systems in 180 countries around the world. Over 30% of our operating installed base is under service agreements.
www.wartsila.com/energy

Wärtsilä in brief
Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. We emphasise innovation in sustainable technology and services to help our customers continuously improve environmental and economic performance. Our dedicated and passionate team of 17,800 professionals in more than 280 locations in 79 countries shape the decarbonisation transformation of our industries across the globe. In 2023, Wärtsilä’s net sales totalled EUR 6.0 billion. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1313b4ea-2fcb-4d25-8bb1-f6c7d6ad3691

The MIL Network –
February 11, 2025
MIL-OSI: PureSky Energy Welcomes Rami Khadra as Chief Financial Officer

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — PureSky Energy (PureSky), a leader in sustainable energy solutions and independent power producer, is pleased to announce the appointment of Rami Khadra as its new Chief Financial Officer (CFO), effective February 3, 2025.

With over 15 years of leadership experience in renewable energy finance, Rami Khadra brings an impressive track record of securing capital, managing financial risk, and driving global expansion for major organizations. His expertise in building robust financial structures and his commitment to sustainable growth make him a key addition to the PureSky Energy leadership team.

Khadra joins PureSky Energy from Amp Energy, where he served as Vice President of Treasury and FP&A, overseeing key initiatives such as securing capital, optimizing funding strategies, and managing financial risks to support the company’s global expansion. Previously, he held senior treasury roles at Algonquin Power & Utilities Corp., Brookfield Renewable Partners, and Nakheel, an infrastructure firm in Dubai that played a role in iconic projects such as Palm Islands off the coast of Dubai.

In his most recent role at Amp Energy, Khadra spearheaded initiatives to diversify funding sources, optimize capital structures, and navigate currency risks while driving strategic growth. At Algonquin, he played a pivotal role in driving the successful implementation of its $9.7 billion capital plan, advancing its execution while safeguarding the company’s credit rating. During his tenure at Brookfield Renewable Partners, Khadra managed liquidity for $5 billion in project-level debt, supported over $5 billion in M&A activities, and enhanced credit risk and interest rate management for an asset portfolio exceeding $24 billion.

“I am thrilled to join PureSky Energy at such a crucial time for the renewable energy industry,” said Khadra. “PureSky Energy has an outstanding track record of developing innovative projects and contributing to a sustainable energy future. I look forward to working with this talented team to optimize financial operations, drive growth, and deliver on the company’s strategic goals while maintaining and building upon the strong relationships already in place.”

Jared Donald, CEO of PureSky Energy, expressed enthusiasm for the appointment: “Rami’s extensive experience in renewable energy finance, coupled with his proven ability to navigate complex capital markets and build resilient financial strategies, aligns perfectly with our vision for growth and innovation. His leadership will be instrumental as we continue expanding our portfolio of projects and driving the transition to clean energy.”

As CFO, Khadra will focus on enhancing financial efficiency, optimizing the company’s capital structure, and building strong relationships with investors and stakeholders. He will also play a critical role in supporting PureSky Energy’s mission to develop community-focused solar projects and advance the renewable energy transition.

Khadra’s appointment underscores PureSky Energy’s commitment to assembling a world-class team dedicated to sustainability, innovation, and long-term success.

About PureSky Energy:

PureSky Energy is a leading developer, owner, and operator of US community solar, C&I and storage projects with headquarters in Denver, Colorado. Since entering the US market in 2016, the company has rapidly expanded its scale and currently operates a portfolio with generation capacity of approximately 233MW across forty-four sites or under-construction projects expected to be completed in the short term. The company has a large pipeline of solar and battery storage projects across existing and new US markets, placing the platform in a primary position within the distributed generation market. The company’s mission is to make clean energy accessible and aﬀordable to local communities across the United States, while shaping a brighter, more sustainable future for generations to come.

Website: www.pureskyenergy.com

Host A Solar Farm: https://www.pureskyenergy.com/community-host

LinkedIn: https://www.linkedin.com/company/puresky-energy

For media inquiries, please contact:

Janet Janzen: marketing@pureskyenergy.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e0c0a2db-205e-4d44-aa2f-1654a64fb326

The MIL Network –

February 11, 2025
MIL-OSI: ACT-ion Raises $7.5 million in Pre-Series A Round Led by BASF Venture Capital

Source: GlobeNewswire (MIL-OSI)

DALLAS, Feb. 10, 2025 (GLOBE NEWSWIRE) — ACT-ion Battery Technologies, a startup in the field of lithium ion battery cathode active materials (CAM), announced today the successful closing of its Pre-Series A funding round. Founded in 2019, ACT-ion has developed both an efficient and cost-effective means to produce single crystalline cathode active materials. This chemistry agnostic process addresses a critical challenge in the lithium-ion battery value chain: the need to both reduce CAM production costs and increase production throughput.

The USD 7.5 million round was led by BASF Venture Capital, with participation from Hunt Energy Enterprises, Mirae Asset Capital, Arosa Capital Management, and LG Technology Ventures. ACT-ion will use the proceeds to accelerate its innovative CAM production technology, aiming to establish an operational pilot facility by 2025, with validations from leading industry partners.

ACT-ion is the recent recipient of a R&D 100 award which recognized the Company’s innovation to overcome the complexity and cost of CAM manufacturing. ACT-ion’s continuous process generates coated single crystal CAM leading to higher performance and longer cycle life lithium-ion batteries. ACT-ion has successfully demonstrated this manufacturing platform for a variety of chemistries.

“We are excited to have the support of Pre-Series A investors who share our vision for battery materials and manufacturing,” said Jin Lim, CTO and Interim CEO of ACT-ion. “This funding will allow us to bring our innovative solutions to market faster and make a meaningful impact on the global energy landscape.”

“We are excited to have led this financing round and to support ACT-ion as a partner. With the market need for novel battery materials, and the processes to produce them, ACT-ion’s mission to improve CAM aligns well with BASF efforts to deliver innovation to our customers,” said Joshua Speros, Investment Manager at BASF Venture Capital.

“The domestic production of battery materials at cost will mark a significant milestone in the US CAM industry,” said Lillian Shattock, Director of Private Investments at Arosa Capital Management. “We are thrilled to support ACT-ion, as we believe their technology can be a pivotal enabler of domestic CAM manufacturing.”

Incubated within and spun-out of Hunt Energy Enterprises LLC, “the ACT-ion venture was developed to target the largest cost constraint within lithium batteries and thereby help enable growth for markets such as electric drones, electric vehicles and power tools,” said Victor Liu, Chairman of ACT-ion.

About ACT-ion Battery Technologies

ACT-ion Battery Technologies is a leading lithium battery cathode active material (CAM) technology company. As an advanced manufacturing technology company, ACT-ion’s rapid continuous process produces coated single crystal CAMs for lithium batteries through a novel, clean, and chemistry-agnostic process, requiring lower energy and cost. For more information, please visit www.act-ion.com.

About Hunt Energy Enterprises

Hunt Energy Enterprises is the corporate energy technology venture group within Hunt Energy Company, LP. As such, Hunt Energy Enterprises has incubated several technologies that leverage its operations and knowledge to create new energy companies and partnerships with entrepreneurs in both the conventional petroleum business and cleantech power. It is part of a larger privately-owned group of companies managed by the Ray L. Hunt family that engages in oil and gas exploration, refining, power, real estate, ranching and private equity investments. For more information, please visit www.huntenergyenterprises.com.

About BASF Venture Capital GmbH

At BASF, we create chemistry for a sustainable future. BASF Venture Capital GmbH also contributes to this corporate purpose. Founded in 2001, BASF Venture Capital invests in Europe, the United States, Canada, China, India, Brazil, and Israel. Our goal is to generate new growth potential for current and future business areas of BASF by investing in innovative startups. The focus of our venture investments includes decarbonization, circular economy, Agtech, new materials, digitalization and new, disruptive business models. For more information, please visit https://www.basf.com/global/en/who-we-are/organization/group-companies/BASF_Venture-Capital

About Arosa Capital Management

Arosa Capital Management is an alternative investment manager that focuses on investments in alternative energy, traditional energy and related sectors. Founded in 2013, Arosa’s approach is rooted in rigorous fundamental analysis and deep sector expertise to invest in private and public companies as well as in credit and commodities on a cross asset basis. The focus of Arosa’s ventures strategy is investments in private companies that primarily pursue alternative, renewable, or efficient energy technologies. For more information, please visit www.arosacapital.com.

About Mirae Asset Capital

Mirae Asset Capital is a leading financial institution specializing in fostering innovation and driving new growth opportunities as a trusted financial partner. Established in 1997, the firm invests in groundbreaking ideas across sectors including AI, robotics, energy, and biotechnology. Leveraging the extensive global network of the Mirae Asset Financial Group, Mirae Asset Capital operates across key markets such as Korea, the United States, India, and China. For more information, please visit vc.miraeassetcapital.com.

About LG Technology Ventures

LG Technology Ventures is the venture capital investment arm of the LG Group. LG Technology Ventures was established in 2018 and its team consists of experienced investors, entrepreneurs, technologists, and industry domain experts. Currently, LG Technology Ventures is managing over $805 million of fund assets and invests in early-stage start-ups in artificial intelligence, mobility, advanced materials, life-sciences, next generation display, mobile, and 5G. We strive to create value for our portfolio companies by helping them develop strategic partnerships with LG Companies. For more information, please visit https://www.lgtechventures.com/.

For more information, please contact: ACT-ion Communications, Email: inquiry@act-ion.com

The MIL Network –

February 11, 2025
MIL-OSI USA: Recent cold snap results in fourth-largest withdrawal from underground natural gas storage

Source: US Energy Information Administration

In-brief analysis

February 10, 2025

Data source: U.S. Energy Information Administration, Weekly Natural Gas Storage Report
Note: Weekly net changes in natural gas storage are netted across the East, Midwest, Mountain, Pacific, and South-Central regions.

Colder-than-normal temperatures across much of the United States in mid-January increased natural gas consumption, resulting in the fourth-largest reported weekly withdrawal from natural gas storage in the Lower 48 states, according to our Weekly Natural Gas Storage Report (WNGSR). During the week ending January 24, 2025, stocks fell by 321 billion cubic feet (Bcf), which was nearly 70% more than the five-year (2020–24) average withdrawal for the same week in January. With withdrawals in January totaling nearly 1,000 Bcf, U.S. natural gas inventories are now 4% below their previous five-year average after being 6% above the five-year average at the start of the 2024–25 heating season, which began in November.

For the week ending January 24, the South-Central region of the United States, which accounted for approximately 35% of working gas in U.S. storage, reported its fourth-largest withdrawal of 136 Bcf. In the East and Midwest, the regions with the next-largest storage inventories, stocks fell by 10% in the East and by 11% in the Midwest over the week. The East and Midwest are also the U.S. regions with the most natural gas consumption in the winter to meet space heating demand.

Temperatures in the U.S. Southeast fell to record lows, and snow fell in parts of Louisiana, Texas, and the panhandle of Florida, increasing natural gas consumption. During the week ending January 24, 2025, U.S. heating degree days (HDDs) reached 262, or 28% more than normal, according to the National Oceanic and Atmospheric Administration. Population-weighted HDDs represent temperature deviations lower than 65°F and are weighted based on population distributions across the country. These data help us model and forecast energy consumption in different regions of the United States.

Cold weather also led to modest production declines in January because of freeze-offs, which occur when water and other liquids freeze at the wellhead or in natural gas gathering lines near production activities.

Information in our WNGSR is also available on the Natural Gas Storage Dashboard, which shows natural gas inventories, storage capacity, prices, and consumption.

Principal contributors: Katy Fleury, Grace Wheaton

MIL OSI USA News –

February 11, 2025
MIL-OSI USA: Irradiator Removal Saves Millions of Dollars While Making Campuses Safer

Source: US State of Connecticut

In a milestone move intended to increase campus safety and lower operational costs, safety officials at UConn Storrs and UConn Health recently coordinated the removal of four cesium-sourced irradiators used for research and medical purposes.

The disposal operation – a costly, highly-choreographed effort at each site that involved cranes, giant disposal casks, flatbed trucks, and campus and state police escorts – was made possible through the Cesium Irradiator Replacement Project (CIRP), a voluntary initiative of the U.S. Department of Energy (DOE) offering financial incentives to medical and research institutions willing to replace cesium-137 irradiators with new x-ray-based devices. Run by DOE’s National Nuclear Security Administration (NNSA), Office of Radiological Security (ORS), the program covers 100% of the cost of disposing cesium-137 based irradiators and reimburses up to 50% of the purchase price of new equipment.

Kevin Higgins, the radiation safety officer at UConn Health, estimates it would have cost roughly $580,000 each – a total of $1.74 million – had UCH attempted to dispose its three irradiators on its own. Another $450,000 to $500,000 in savings was realized, he says, thanks to CIRP covering half the cost of two new X-ray irradiators that replaced the two cesium-based devices used by researchers and the blood bank at UCH. A third cesium irradiator no longer in use, was removed but not replaced.

At Storrs CIRP helped offset roughly $882,000 in costs associated with the removal and replacement of its single cesium-sourced irradiator, a 1969-era model housed in the Pharmacy Biology Building and used for genetics and cell research, says Amy Courchesne, the radiation safety officer at UConn Storrs. The program also reimbursed the cost of add-ons for the new X-ray irradiator, which included specialized accessories, and $16,000 for modifications to the room it occupies, and a service contract.

“If we decided not to go with CIRP, the University would have had to cover those costs,” she says.

The primary goal of CIRP is to reduce the security risks associated with the institutional use of cesium-137 and cobalt-60 sourced irradiators. The irradiators are safely shielded to protect users from exposure but contain highly radioactive isotopes with a long half-life that could pose a significant health risk if dismantled from their protective shielding or released into the environment.

While radioactive source irradiators have benefits, such as scientific research and the irradiation of blood, they would pose a grave risk to communities should they be lost or stolen. In the wrong hands, even a small amount of high-activity radioactive material could be used in an act of radiological terrorism.

Contributed photo.

UConn is among the hundreds of academic, medical, and other institutions to participate in CIRP since its inception in 2014. In course of 10 years, the program has facilitated the replacement of 67% of the radio-isotopic irradiators in the United States, according to Evan Thompson, a foreign affairs specialist with NNSA.

As of Sept. 5, 2024, some 235 cesium-137-sourced blood irradiators have been replaced through the program and 82% of self-shielded cesium-137-based blood irradiators in the U.S. have been replaced, removed, or are slated for removal by contract or pledge.

Replacing the irradiators at both sites required a great deal of planning, teamwork, and coordination. At UCH, the new research irradiator was installed prior to the cesium irradiator being removed. For the blood bank, an entirely new location for blood irradiation was constructed.

On removal day, UConn, state, and local police were onsite to secure the site and manage traffic flow. The irradiators were then disassembled to access the shielded containers housing the radioactive sources. The containers, which weigh several thousand pounds, were then moved under police escort to a loading dock, lifted from there to a loading dock and placed on the ground. A crane then hoisted them up and into a specially designed shipping cask securely fastened to the flatbed tractor-trailer. As a last step, the cask was pressure tested to ensure proper assembly and escorted offsite by state and local police.

The advantages of participating in the program go well beyond the cost savings associated with removal and replacement, notes Courchesne. The bureaucratic and regulatory aspects of operating the cesium-sourced irradiators were significant.

“Due to security, FBI background checks were required for unescorted access,” she says. “After 9/11, the Nuclear Regulatory Commission put additional security orders into effect, including 24/7 monitoring, fail-safe monitoring with backup power, contingency planning and more.”

The stricter rules prohibited the university from publicly disclosing that it owned a cesium-sourced irradiator, which limited use of the device to researchers within the university. Individuals interested in using the irradiator for research had to contact Courchesne and take an exam to ensure they had the capability to safely use it, then be escorted by radiation safety personnel when they used it.

Under CIRP, the cradle-to-grave custodianship of the cesium-sourced devices shifts from the owning institution to the federal government, freeing UConn and UCH from that responsibility and any associated costs.

At Storrs, the removal was facilitated by UConn’s Office of Vice President for Research (OVPR). Jeremy Blasbaugh, director of UConn’s Center of Open Research Resources (COR²E), will oversee the installation and the new X-ray irradiator at that site and its future use by researchers.

“As the radiation safety officer, I’m excited that researchers will be able to use the replacement X-ray irradiator,” says Courchesne. “We can share about it and promote collaboration. We don’t have the liability and regulatory restrictions around the device anymore.”

MIL OSI USA News –

February 11, 2025
MIL-OSI NGOs: Global: Nigerian residents take Shell to UK High court following 10-year fight for justice

Source: Amnesty International –

After a decade-long fight for justice, the Preliminary Issues Trial of Nigerian Law for Shell vs Ogale and Bille communities is set to take place at the UK High Court from 13 February to 10 March 2025.

Ten years ago, residents from the Bille and Ogale communities in Nigeria claimed their livelihoods had been destroyed and homes damaged by hundreds of oil spills caused by Shell. The pollution caused widespread devastation to the local environment, killing fish and plant life, leaving thousands of people without access to clean drinking water.

The communities brought their claims in the UK courts however Shell repeatedly delayed the case arguing it had no legal responsibility for any of the pollution. The delay has had a devastating effect on people’s lives.

On 6 December 2024, the UK Court of Appeal gave the green light for the case finally to go ahead. Isa Sanusi, Amnesty International’s Country Director for Nigeria, said:

“The Bille and Ogale communities of Nigeria’s Niger Delta oil-producing region have been living with the devastating impact of oil pollution for so long. Oil companies, particularly Shell, exposed them to multiple oil spills that have done permanent damage to farmlands, waterways, and drinking water – leaving them unable to farm or fish.

“Water contamination and other impacts affect even babies that are in some cases born with deformities. These communities have been deprived of a good standard of living. They deserve justice and effective remediation, and I hope this long-overdue trial goes someway to providing it.”

Amnesty International has published numerous reports, documenting the detrimental impact Shell’s operations are having on Nigerian communities. Going forward, Amnesty International is calling for Shell to conduct meaningful consultation with affected communities about its plans for disengagement. Shell must also provide a full remediation plan including details of all completed and ongoing clean-ups across its areas of operation, as well as adequate compensation for the severe and sustained harm affected communities have faced as a result of Shell’s operations in the Niger Delta.

Background

The two communities from Nigeria will be represented by Leigh Day. The Shell Preliminary Issues Trial of Nigerian Law will aim to resolve a number of Nigerian private and constitutional law questions, with a view to confirming the legal framework to be applied to the subsequent trial between Shell and the Ogale and Bille communities.

The Court of Appeal heard the Shell Nigeria oil spill appeal on 8 October 2024. On 11 October 2024, the Court of Appeal ruled in favour of Nigerian communities over alleged pollution by oil giant Shell. On 6 December 2024, a full trial of Nigerian communities’ claims against Shell was given the go ahead.

Over the past 20 years, Amnesty International has conducted extensive research and documented the human rights and environmental impact of Shell’s operations in the Niger Delta. In Amnesty’s 2023 report, Nigeria: Tainted Sale?, the organization recommended a series of safeguards to protect the rights of people potentially affected by Shell’s planned disposal of its oil interests in Nigeria.

MIL OSI NGO –

February 11, 2025
MIL-OSI Asia-Pac: India’s Coal Boom
Source: Government of India

India’s Coal Boom

Policies, Production, and Investments

Posted On: 10 FEB 2025 3:49PM by PIB Delhi

Introduction

With the fifth-largest geological coal reserves globally and as the second-largest consumer, coal continues to be an indispensable energy source, contributing to 55% of the national energy mix. Over the past decade, thermal power, predominantly fueled by coal, has consistently accounted for more than 74% of our total power generation. Despite commendable strides in promoting renewable energy sources, the sheer growth in electricity demand necessitates a continued reliance on thermal power, with projections indicating its share to be 55% by 2030 and 27% by 2047. It is anticipated through comprehensive studies that coal demand in 2030 will likely reach 1462 MT and 1755 MT by 2047.

Growth of the Coal Sector in December 2024

As per the Index of Eight Core Industries (ICI), the coal sector registered the highest growth of 5.3% in December 2024, reaching 215.1 points compared to 204.3 points in December 2023. During April-December 2024, the coal industry index increased to 177.6 points from 167.2 points in the previous year, marking a 6.2% growth—the highest among all core industries.

The Combined Index of Eight Core Industries showed an overall growth of 4.0% in December 2024 compared to the previous year. The index for April-December 2024 increased by 4.2% over the same period in FY 2023-24, emphasizing coal’s significant contribution to industrial expansion. Additionally, the coal sector accounts for about 50% of freight revenue for Indian Railways and provides direct employment to nearly 4.78 lakh individuals.

India’s coal production has reached an all-time high of 997.82 million tonnes (MT) in FY 2023-24, marking a significant rise from 609.18 MT in FY 2014-15, with a Compound Annual Growth Rate (CAGR) of 5.64% over the past decade. In FY 2023-24 alone, production has surged by 11.71% compared to the previous year. Coal India Limited (CIL) remains the dominant producer, while SCCL and Others/Captive sources have also shown consistent growth, particularly in the last three years.

State Governments also benefit significantly from coal revenues, with royalty, District Mineral Foundation (DMF) contributions, and State GST collections amounting to ₹31,281.7 crore in the fiscal year 2023-24.

Dispatch of Coal

The cumulative coal dispatch April 2024 to January 2025 has risen to 843.75 MT, marking 5.73% increase from 798.02 MT recorded during the corresponding period of the previous year. Mine opening permissions were granted for three new mines—Bhaskarpara, Utkal E, and Rajhara North (Central and Eastern). The Ministry of Coal remains committed to augmenting domestic production, reducing import dependence, and ensuring energy security for India.

Indian Coal Sector Achieves Significant Import Reduction in FY 2023-24

The Indian coal sector significantly reduced its import dependency in FY 2023-24, with only 110 MT classified as non-substitutable imports, by increasing domestic coal production. Between April and November 2024, coal imports declined by 5.35%, saving approximately $3.91 billion (₹30,007.26 crore). Notably, coal imports for domestic power plant blending fell by 23.56%. Supply from CIL and SCCL, along with captive sources, rose from 734 MT (2018-19) to 1149 MT (2023-24), while demand reached 1273 MT. Additionally, private sector coal production increased from 58 MT to 184 MT, further strengthening India’s energy self-sufficiency.

This decrease in imports and increase in domestic supply is enabled by various efforts of the government. The Ministry’s ‘Mission Coking Coal’ launched in 2022, aims to increase domestic coking coal production to 140 MT by FY 2029-30, thereby reducing dependency on imports in the steel sector. Other key strategies such as promoting commercial mining, expediting production from allocated blocks, and enhancing regional exploration (2525 sq. km by 2024) also play a crucial role. The introduction of the National Coal Mine Safety Report Portal and the Mine Closure Portal ensures responsible and transparent mining practices. The Ministry is considering the establishment of a Coal Trading Exchange to create a competitive and transparent market, further modernizing the sector.

As of January 2025, the Ministry of Coal has allotted 184 mines, with 65 blocks receiving Mine Opening Permissions. Total production from these blocks has reached 136.59 MT, registering a 34.20% year-on-year increase. This is expected to exceed 170 MT target in FY 2024-25.

Financial Incentive Scheme for Coal Gasification

The Cabinet approved the scheme for promotion of Coal/Lignite Gasification Projects of Government PSUs and Private Sector, in January 2024. With a financial outlay of ₹8,500 crore, the scheme will provide Financial Assistance for coal gasification projects under three categories and aims to accelerate coal gasification, reduce carbon emissions, enhance energy security, and promote sustainable development.

The scheme encourages both private companies and government PSUs to undertake coal gasification projects. For Category I, three applicants, Namely Bharat Coal Gasification and Chemicals Limited, CIL – GAIL Consortium and Coal India Limited were selected to be given Financial Incentives. New Era Cleantech Solution Private Limited was selected under Category III to be provided with Financial Incentive. The Request for Proposals (RFP) for Category-II was issued on May 15, 2024, and technical bids were opened on January 10, 2025. The selected applicants for financial incentives under Category-II are Jindal Steel and Power Limited, New Era Cleantech Solution Pvt. Ltd. and Greta Energy Limited.

This initiative is a crucial part of India’s target to achieve 100 million tonnes of coal gasification by 2030, reflecting a shift towards advanced coal utilization technologies.

Strengthening Coal Supply Chains

To ensure uninterrupted coal supply, robust institutional mechanisms have been put in place, including an Inter-Ministerial Committee and coordination meetings with Railways and power sector stakeholders. As a result, coal stock at Thermal Power Plants now stands at 49 MT—sufficient for nearly 21 days, even amidst logistical restrictions during the Maha Kumbh period.

To further enhance supply efficiency, the Ministry has launched the First Mile Connectivity (FMC) initiative, commissioning 39 projects with a total capacity of 386 MTPA. Additionally, the Rail-Sea-Rail (RSR) mode has successfully doubled coal movement from 28 MT in FY 2022 to 54 MT in FY 2024.

Vesting Orders for Commercial Coal Mines

A landmark policy reform came with the introduction of commercial coal mine auctions in 2020, encouraging private sector participation and modern technological adoption. The Ministry of Coal has recently issued vesting orders for seven coal mines under commercial coal mine auctions. The Coal Mine Development and Production Agreements (CMDPA) for these mines were signed on December 5, 2024.

With the vesting of these mines, a total of 107 coal mines have been auctioned under commercial coal mine auctions, with a cumulative PRC of approximately 246.60 MTPA, generating estimated annual revenue of ₹34,000 crore and employment for about 3,33,000 people.

Chintan Shivir 2.0: Deliberations on Energy Transition and Safety

The Ministry of Coal organized Chintan Shivir 2.0 on January 7, 2025, focusing on coal sector reforms, energy transition, and safety measures. The forum underscored the importance of aligning coal mining with global sustainability goals and prioritizing worker safety. The discussions held emphasized on:
- Enhancing production while integrating cleaner technologies
- Reducing carbon emissions through coal gasification
- Adoption of best practices for sustainability
- Strengthening safety standards in mining operations
The coal sector is embracing sustainability with large-scale afforestation efforts, with over 54.06 lakh saplings planted across 2,372 hectares in 2024. Under the ‘Ek Ped Maa Ke Naam’ campaign, over 1 million saplings were planted at 332 locations in 11 states. Additionally, 4,695 hectares of land have been identified for Accredited Compensatory Afforestation, and a total of 18,513 LKL of treated mine water has been provided to over 18.63 lakh people across 1,055 villages over the past five years.

Workforce in the Coal Industry

The total workforce in major coal companies under the Ministry of Coal is:
- Coal India Limited (CIL): 3,30,318 employees
- Singareni Collieries Company Limited (SCCL): 40,893 employees
- NLC India Limited (NLCIL): 20,811 employees
Mining operations follow stringent safety regulations under the Mines Act, 1952, including risk assessment, safety training, and medical screenings. Extensive healthcare services are provided to workers, with regular health check-ups to prevent occupational diseases.

Central Sector Schemes of the Ministry of Coal

The Ministry of Coal administers three key schemes:
1. Exploration of Coal and Lignite – Identifies and categorizes coal/lignite resources, generating geological reports for auction/allocation. Promising areas undergo detailed exploration to upgrade resources to the ‘Proved’ category.
2. Research & Development (R&D) – Overseen by the Standing Scientific Research Committee (SSRC), focusing on planning, budgeting, and implementing research projects for sector advancements.
3. Conservation, Safety & Infrastructure Development – Under the Conservation and Development Act (CCDA), funds are provided for sand stowing, protective works, transport infrastructure, and mining safety improvements.
The table below highlights the budget allocation and expenditure for Central Sector Schemes in the coal sector for 2023-24, with a total outlay of ₹843.5 crores and an expenditure of ₹299.09 crores.

Conclusion

The coal sector’s remarkable growth highlights its ability to meet the increasing demand from the energy and manufacturing industries. With initiatives like coal gasification, the sector is advancing toward India’s goal of achieving 100 MT of coal gasification by 2030, promoting cleaner and more efficient energy use.

The Ministry of Coal remains steadfast in its commitment to boosting domestic coal production, reducing import dependency, and ensuring national energy security. As a key driver of economic progress, the sector continues to play a crucial role in the realization of Viksit Bharat, contributing to a self-reliant and developed India.

References

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2009196

https://pib.gov.in/PressReleasePage.aspx?PRID=2099183

https://coal.gov.in/sites/default/files/2021-01/productiondata_tenyear.pdf

https://coaldashboard.cmpdi.co.in/dashboard.php#

https://pib.gov.in/PressReleasePage.aspx?PRID=2099549

https://pib.gov.in/PressReleasePage.aspx?PRID=2099889

https://pib.gov.in/PressReleasePage.aspx?PRID=2099037

https://coal.gov.in/sites/default/files/2024-09/05-09-2024qurt.pdf

https://coal.nic.in/en/central-sector-schemes

https://pib.gov.in/PressReleasePage.aspx?PRID=2100763

Click here to download PDF

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Santosh Kumar | Sarla Meena | Anchal Patiyal

(Release ID: 2101314) Visitor Counter : 55

MIL OSI Asia Pacific News –
February 11, 2025
MIL-OSI Asia-Pac: IEW’ 25 to Witness Unprecedented Global Participation and Innovation

Source: Government of India

Posted On: 10 FEB 2025 4:38PM by PIB Delhi

“India Energy Week 2025 (IEW’25) is set to be the first major global event on the energy calendar and the most comprehensive and inclusive energy gathering of the year, especially in light of recent global developments that are expected to have a transformative impact on the energy market,” said Shri Hardeep Singh Puri, Minister of Petroleum & Natural Gas, while interacting with the media today.

Speaking on the sidelines of IEW’25, which will be held at Yashobhoomi, Dwarka, from February 11 to 14, 2025, Shri Puri highlighted India’s growing stature in the global energy landscape. He stated that IEW’25 is set to be even larger, more diverse, and more impactful than its previous two editions. Covering over 1 lakh square meters, IEW’25 will be the second-largest energy event globally in terms of ministerial and CEO participation, exhibition space, and the number of sessions.

IEW’25 is set to be a landmark event in the global energy calendar, continuing its rapid growth from previous editions. Shri Hardeep Singh Puri, highlighted key metrics showcasing this expansion: a 65% increase in exhibition space over 2024 (28,000 sqm), 105 conference sessions (15% higher than 2024, 24% higher than 2023), 70,000+ delegates (55% higher than 2024, 89% higher than 2023), 500 speakers (38% higher than 2024, 58% higher than 2023), and 700+ exhibitors (57% higher than 2024, 115% higher than 2023). He touched upon some more key milestones, including a 35% increase in abstracts received as compared to last year (2,702 submissions) and a rise in international speakers at the Strategic Conference from 33% in 2024 to 48% in 2025.

The Minister said that on the sidelines of IEW’25, the Ministry of Petroleum & Natural Gas will host a Clean Cooking Ministerial, bringing together global policymakers, industry leaders, and experts to accelerate the transition to clean cooking solutions. The event will showcase India’s success with the Pradhan Mantri Ujjwala Yojana (PMUY) as a model for global adoption. It aims to foster international collaboration, drive policy discussions, and facilitate technology sharing to ensure clean, affordable, and accessible cooking energy for households worldwide.

Union Minister for Petroleum & Natural Gas, Shri Puri, underlined the event’s unprecedented scale, with 10 country pavilions (including Canada, Germany, Japan, the USA, and the UK) and 8 thematic zones covering areas such as hydrogen (1951 sqm), biofuels (1164 sqm), and net zero initiatives ( 350 sqm).

The event will see participation from major Indian energy ministries, including the Ministry of Power, MNRE, NITI Aayog, and the Ministry of Mines, reflecting India’s commitment to integrated energy solutions, the Minister said. The Sustainable Mobility Pavilion, set up by SIAM, will showcase 15 cutting-edge vehicle models from 10 OEMs, under the theme “People-Centric Mobility Ecosystem.”

Minister Shri Puri encouraged attendees to explore pioneering technologies developed by Public Sector Undertakings (PSUs). Key exhibits include ONGC’s deep-sea simulation game, HPCL’s indigenous Solid Oxide Fuel Cell System, BPCL’s LPG cylinder ATM, and CSIR’s e-tractor for sustainable agriculture.

With its scale, innovation, and global participation, IEW’25 is poised to position India at the forefront of the global energy transition.

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MONIKA

(Release ID: 2101335) Visitor Counter : 77

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Asia-Pac: India to Inaugurate EFTA Desk to Enhance Trade and Investment under TEPA

Source: Government of India (2)

India to Inaugurate EFTA Desk to Enhance Trade and Investment under TEPA

Business Roundtable to Witness Participation from Over 100 Companies from India and EFTA Nations

Posted On: 10 FEB 2025 10:19AM by PIB Delhi

In a significant step towards deepening economic ties with the European Free Trade Association (EFTA), Union Minister for Commerce and Industry Shri Piyush Goyal along with the EFTA bloc represented by H.E. Mrs. Helene Budliger Artieda, Swiss State Secretary, H.E. Mr. Tomas Norvoll, State Secretary of Trade and Industry, Norway, H.E. Martin Eyjolfsson, Permanent Secretary of State, Iceland, H.E. Dominique Hasler, Minister of External Affairs, Education, and Sport, Liechtenstein, Mr. Markus Schlagenhof, Deputy Secretary General, EFTA Secretariat and Mr. David Sveinbhornsson, Senior Officer, EFTA Secretariat, will inaugurate the EFTA Desk at Bharat Mandapam, New Delhi, on February 10, 2025.

The initiative, in line with Chapter 7 of the India-EFTA Trade and Economic Partnership Agreement (TEPA), which was signed on March 10, 2024, aims to serve as a dedicated platform to promote trade, investment, and business facilitation between India and the four EFTA nations—Switzerland, Norway, Iceland, and Liechtenstein. The inauguration ceremony will be attended by senior officials from the Government of India and high-ranking dignitaries from EFTA member states.

Senior officials from Department for Promotion of Industry and Internal Trade (DPIIT) and the Department of Commerce (DOC) will also address the gathering, outlining India’s vision for stronger economic engagement with EFTA nations.

The India-EFTA Dedicated Desk will act as a centralized support mechanism for EFTA companies looking to expand in India. It will provide market insights and regulatory guidance, business matchmaking, and assistance in navigating India’s policy and investment landscape.

Post-inauguration, a high-level EFTA-India Business Roundtable will convene, featuring over 100 leading businesses from India and EFTA nations, aimed at fostering collaboration across key sectors, including Pharmaceuticals & Life Sciences, Financial Services & Fintech, Mechanical & Electrical Engineering, Energy & Sustainability, Seafood & Maritime, Food Processing & Agritech. The roundtable will provide a structured forum for companies to explore joint ventures, investment opportunities, and technology partnerships under the framework of TEPA.

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Abhishek Dayal/Abhijith Narayanan/Asmitabha Manna

(Release ID: 2101215) Visitor Counter : 23

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Economics: Asian Development Blog: Cooling the Heat Crisis with Energy and Health Solutions

Source: Asia Development Bank

Asia and the Pacific faces record heatwaves, straining energy systems and endangering public health. Investing in climate science, resilient technologies, and people-centered solutions can help mitigate these risks.

The year 2024 was the hottest on record and the first time the world reached 1.6^oC above preindustrial levels. Such extreme heat events are only expected to rise, with countries in Asia and the Pacific particularly at risk.

Energy systems face dual challenges that make them particularly vulnerable to extreme heat events. On the demand side, the heightened use of air conditioners during heatwaves can strain already stretched electricity networks and lead to power cuts and blackouts.

Asia and the Pacific’s rapid socio-economic and urban development has seen a surge in air conditioning usage and a notable increase in electricity consumption during days when temperatures reach 30^oC (86^oF) and above.

Less acknowledged are the negative impacts that higher temperatures can have on the supply side of energy systems. For example, solar photovoltaic cells become less efficient in producing electricity under temperatures above 25^oC (77^oF), while the efficiency of thermal power plants – using coal, gas or nuclear energy – decreases when the cooling water they use becomes warmer.

High temperatures also put additional stress on electronic components such as battery cells and power inverters. Power lines, transformers and substations can overheat during heatwaves, resulting in lower rates of electricity transmission and distribution efficiency or, in the worst case, power failures.

We have seen such impacts in the region this last year. The Lao People’s Democratic Republic experienced frequent power outages due to high electricity demand during April’s heatwave. The Philippines suffered brownouts across various regions due to shutdowns and reduced power plant and grid capacities during the same month. Bangladesh had to carry out power cuts in 2024, affecting millions of people. In Pakistan, frequent and prolonged power outages in Karachi during scorching heat in June contributed to the spread of heat-related deaths.

The record-breaking heat of 2024 exposed the vulnerabilities of energy and health systems across Asia and the Pacific, underscoring the urgent need for climate-resilient investments in infrastructure, technology, and policy coordination.

Such energy disruptions can impact the functioning of health systems severely. Energy is crucial for protecting public health by enabling the operation of medical devices and telemedicine, as well as regulating indoor temperatures, refrigerating food and medicine, and ensuring the supply of clean drinking water.

Power outages can curtail the basic functioning of hospitals and health clinics and shut down IT and communication systems.

This includes limiting access to medical record systems and vital laboratory testing data needed to make critical decisions about patients. Added to this, heatwaves create a surge in demand for health care services, including emergency visits and ambulance call outs, which simultaneously increases energy demand.

The consequences for human health can be deadly. People with chronic health problems are more predisposed to the impacts of extreme heat, such as those with cardiovascular and upper respiratory disease, communicable disease, diabetes, kidney disease and mental illness.

Specific groups of people are also more vulnerable to the negative impacts of heat stress, including the elderly, pregnant women, infants, children, outdoor workers and those from lower socio-economic groups who often lack access to air conditioning systems in their homes.

Weak health surveillance systems in many Pacific Islands countries and lower middle-income countries in Asia unfortunately mean that heat-related deaths and illnesses are being underestimated. Where data exists, the impacts are alarming. A report in People’s Republic of China for example, showed a fourfold increase in heat-related mortality between the years 1990 and 2019.

With the frequency of extreme heat being the new reality, there are a number of immediate investments that can be considered across systems in Asia and the Pacific, spanning science, technology and people-centered approaches.

Firstly, converging state-of-the-art science and data with people-centered approaches can help improve the design of systems-level investments that benefit the health and energy sectors. The use of advanced climate modeling techniques allows governments and companies to better understand the impacts of heat stress on these systems and to explore solutions that address these challenges.

More heat data allows insurance providers to design and offer more heat insurance products that better protect companies and workers. Upgrading early warning systems with the latest science in forecasting extreme heat allows more accurate and timely warnings.

Combining such upgrades with collaboration – such as with energy providers, health institutions and communities – also means more meaningful warnings that allow a multisectoral response to heat action planning, setting up local cooling centers, and preparing community outreach to vulnerable groups.

Secondly, investments in climate-resilient energy technologies can strengthen the reliability of energy systems against extreme heat. Currently, many Asian and Pacific countries rely on the use of fossil fuels and power conservation measures during higher power demands. Strengthening electricity networks and storage technology are longer-term solutions that can match the region’s growing electricity needs with the increasing frequency of heatwaves.

Implementing innovative cooling solutions and heat-resilient designs for power plants and grids can reduce efficiency losses during extreme heat events. Smart grid technologies can provide energy suppliers with real-time visibility that reduces the likelihood of large-scale outages. Promoting energy-efficient cooling appliances and energy-saving building designs – such as cool roofs – can also help reduce demands on electricity networks during heatwaves.

These investments will reduce energy disruptions to health systems during extreme heat events, but there is a third set of solutions within the health sector that should also be considered. This includes ensuring heat-resilient back-up energy options for health facilities during power failures, and the installation of energy-efficient smart air conditioning systems.

Wider investments to decarbonize and green health care facilities also lowers their energy demand. Equally crucial are the “softer” investments in strengthening health-heat surveillance systems, tailoring early warning systems and data sharing for the health sector, and developing business continuity plans that ensure health service delivery and surge capacity management during heatwaves.

The experience of 2024 as the hottest year on the planet highlights how urgent it is to address extreme heat. Sadly, it also heralds the implications ahead. Asia and the Pacific sweltered under multiple heatwaves in 2024, seeing power outages and disruptions to people’s lives and livelihoods across the region.

There’s still hope. Countries and the international community need to continue to reduce greenhouse gases as part of their climate mitigation pledges to the Paris Agreement. But equally, we have climate adaptation opportunities to embrace science, technology and people-centered approaches.

Applying such measures to systems-level investments in Asia and the Pacific will produce more climate-resilient energy and health outcomes under the growing severity of a warmer future.

MIL OSI Economics –

February 11, 2025
MIL-OSI Russia: Polytechnic University and UK KER-Holding: six-year cooperation

Translartion. Region: Russians Fedetion –

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

In the research laboratory “Laser and Additive Technologies” of the Institute of Mechanical Engineering of Materials and Transport of SPbPU, acceptance tests of the laser powder cladding complex were carried out. Specialists of the company “UK KER-Holding” assessed the configuration and capabilities of the manufactured installation.

Polytechnic University and the management company “Complex Energy Development-Holding” began to cooperate in 2019, when the organization was choosing reliable partners for the repair of gas turbine engines. Over six years, specialists from the Research Laboratory “LiAT” of IMMiT have completed more than 20 projects. Now two projects are being implemented at once: the commissioning of the complex and the repair of the second-stage working blades of the GTE.

In addition, the Polytechnic University conducted acceptance tests of the laser powder cladding complex. The customer was represented by the chief metallurgist of UK KER-Holding Yuri Dvoeglazov, investment director Zufar Idrisov and chief designer Nikolai Tsyganov.

Successful completion of acceptance tests under the contract for the supply of the unit is another starting point in cooperation with the company. Our specialists developed technical documentation and manufactured the complex. We demonstrated the surfacing process in real conditions to the receiving party, – said Mikhail Kuznetsov, head of the Research Laboratory “LiAT” of IMMiT.

Laser powder cladding and direct laser deposition are modern technologies that allow creating materials and products with high precision and quality. They are used in various industries, such as medicine, aviation, space exploration, energy, mechanical engineering and others.

We can confidently talk about the fruitful work carried out over six years of cooperation. In the Polytech-KER-Holding team, specialists have completed many projects and solved a large number of “starred” problems. Direct evidence of this is the serial repair of working and nozzle blades of gas turbine engines and the creation of a laser powder cladding complex with technology transfer, – shared Yuri Dvoeglazov.

It is gratifying that the interaction between the Polytechnic University and UK KER-Holding is actively developing. The employees of the Research Laboratory LiAT make a worthy contribution to strengthening the ties. Long-term cooperation in the field of repair of nozzle units using the laser powder cladding method is of great importance for the development of the energy industry, – noted the Director of IMMiT Anatoly Popovich.

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 –

February 11, 2025
MIL-OSI Europe: Energy in the spotlight as Benjamin Dousa visits Moldova

Source: Government of Sweden

Energy in the spotlight as Benjamin Dousa visits Moldova – Government.se

Press release from Ministry for Foreign Affairs

Published 10 February 2025

On 10–11 February, Minister for International Development Cooperation and Foreign Trade Benjamin Dousa is visiting Moldova to hold discussions about the energy situation following Russia’s Gazprom suspending its gas supplies.

“Suspending gas supplies is a way for Russia to undermine Moldova’s political and economic stability. This is why it’s important to support Moldova at this critical juncture,” says Mr Dousa.

During the visit, Mr Dousa will meet with Moldova’s Prime Minister Dorin Recean and Minister of Foreign Affairs Mihai Popșoi. Mr Dousa will also meet with representatives of civil society and the private sector for discussions around energy issues, resilience and Moldova’s path to EU accession.

Energy is an important component of Sweden’s long-term reform efforts with Moldova. Sweden provides support in areas such as increased access to sustainable energy solutions for agriculture and households in rural areas, as well as the development of district heating systems in the capital Chisinau. This cooperation enables Sweden to contribute to the green transition and to reducing the country’s reliance on Russian energy.

Swedish support to Moldova

Sweden provides extensive and long-term bilateral reform support to Moldova that aims to support the country’s path to EU accession. The support focuses on democracy, the rule of law, security, market economy development and the environment and climate. Sweden’s reform cooperation with Moldova is governed by a regional Eastern Europe strategy for the period 2021–2027, comprising a total of SEK 6.6 billion for the whole region. In 2023, Sweden’s development assistance to Moldova totalled over SEK 520 million, which included a support package to the energy sector worth SEK 300 million.

Press contact

MIL OSI Europe News –

February 11, 2025
MIL-OSI China: China accelerates reform of renewable power pricing to promote sustainable development

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

China accelerates reform of renewable power pricing to promote sustainable development

BEIJING, Feb. 10 — China is accelerating the market-oriented reform of its renewable power pricing system in a bid to build a new power system and promote the sustainable development of renewable energy generation.

The National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) recently issued a joint notice on deepening the pricing reform for electricity generated from renewable energy.

The reform focuses on three key aspects: allowing market forces to determine renewable power pricing, establishing a pricing and settlement mechanism that supports the long-term sustainability, and adopting differentiated policies for existing and new projects.

“This new pricing policy will significantly accelerate the construction of a modern power system and ensure the sustainable development of renewable energy,” said Zhang Dayong, deputy secretary-general of the China Association for the Promotion of Industrial Development.

Industry experts believe this reform is essential as China enters a new stage of renewable energy development.

China highly values the new energy sector, such as wind and solar power, rolling out an array of favorable policies spanning pricing, finance and industry. The supportive measures, including a fixed pricing mechanism, have led to exponential growth in renewable energy capacity.

At the end of 2024, the country’s total installed renewable power capacity reached 1.41 billion kilowatts, accounting for over 40 percent of its total electricity capacity and surpassing coal-fired power installations.

Despite this rapid expansion, the existing fixed-pricing mechanism for renewable power has struggled to reflect real market supply and demand dynamics.

Conditions are now ripe to shift to market-based pricing, analysts said, citing falling power generation costs and an evolving market and predicting that the reform will enhance industry efficiency and ensure sustainable high-quality growth.

The costs of wind and solar power generation in China have dropped significantly compared to early development stages, now ranging between 0.2 yuan (about 3 U.S. cents) and 0.3 yuan per kilowatt-hour. Meanwhile, local electricity markets have matured, with improved regulations facilitating broader participation.

Song Hongkun, deputy head of the NEA, has highlighted the increasing role of market forces in power distribution. From January to October 2024, China’s market-based electricity transactions reached 5.08 trillion kilowatt-hours, with the share of market-traded electricity rising from 17 percent in 2016 to 62 percent. Notably, nearly half of all renewable power generation was traded in the market.

“China’s renewable energy sector has taken a lead in the world, but to ensure long-term strength and healthy development, it must be tested in a competitive market environment,” said Liu Manping, an economist of the NDRC, stressing that market-based electricity pricing is at the heart of this reform.

Experts predict that the market-oriented push will drive technological advancements in wind and solar power and further reduce costs.

At the same time, it could lead to lower returns for some projects, steering social capital toward non-electric renewable energy applications, which will help foster the growth of China’s broader renewable energy ecosystem, Zhang said.

MIL OSI China News –

February 10, 2025

Category: Energy

Fourth India-UK Energy Dialogue- Advancing India’s energy transition held in New Delhi todayPhase-2 of the India-UK bilateral Accelerating Smart Power & Renewable Energy in India (ASPIRE) programme announced

Union Minister Dr. Jitendra Singh today launched India’s first indigenous Automated Bio Medical Waste Treatment Plant at AIIMS New Delhi.The Automated Biomedical Waste Treatment Rig, named “Sṛjanam,” was officially dedicated to the nation:

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