Category: Energy

  • MIL-OSI Economics: 1 November 2024 Offsite EEF events: new opportunities for Sakhalin economy Adviser to the President of the Russian Federation Anton Kobyakov met with Sakhalin Governor Valery Limarenko in Moscow to discuss long-term cooperation between the Roscongress Foundation and Sakhalin Region on the development of forum and exhibition activities until 2035.

    Source: Eastern Economic Forum

    1 November 2024

    Offsite EEF events: new opportunities for Sakhalin economy

    Adviser to the President of the Russian Federation Anton Kobyakov met with Sakhalin Governor Valery Limarenko in Moscow to discuss long-term cooperation between the Roscongress Foundation and Sakhalin Region on the development of forum and exhibition activities until 2035.

    The strategic partnership will require mechanisms for promoting Sakhalin’s investment potential and environmental, climate, energy, and technology projects in the region. Joint efforts will focus on organizing national and international forums and exhibitions in Yuzhno-Sakhalinsk at Sakhalin-Tech Technopark and Pushisty Drone Port to be managed by the Roscongress Foundation. Plans to sign a Long-Term Cooperation Agreement are in the works.

    “Russia places strategic importance in developing and strengthening the Far East. As the world order changes and the centre of global business activity shifts to the Asia-Pacific region, the Far East gains in importance for the Russian economy and solidifies its global position. There is enormous potential for new projects and new industries in the region and no limit to possibilities for international cooperation. New approaches and combined efforts are required to realize this potential. I believe the Roscongress Foundation has the expertise and Sakhalin Region the potential to create opportunities for investment that will attract partners to contribute to its development,” Adviser to the President of the Russian Federation Anton Kobyakov said.

    Meeting discussions focused first on the programme of offsite events for the Eastern Economic Forum (EEF), indeed, an agreement to cooperate was first reached between the Roscongress Foundation and Sakhalin on the sidelines of the EEF in September 2024.

    Sakhalin Region is important to the Far East, has great potential, and must transition from an overdependence on resources to a model of increased self-development. The transition will depend on programmes to improve investment attractiveness and quality of life. One such ambitious project is the New City, dedicated to sustainable development, digitalization, and environmental responsibility, with a master plan calling for the creation of cultural, business, research, and production spaces, including buildings for congress and exhibition events.

    “The construction of a modern 20,000-square-meter EXPO centre and cooperation with the Roscongress Foundation will equip us to hold top-notch international events, and the city’s unique infrastructure is already creating opportunities for programmes related to the development of unmanned aviation and energy. I have no doubt that our work together will create a professional platform that attracts investment to the region and shows to the world the full potential of Sakhalin Region to develop advanced technologies and skillfully balance nature preservation and human activity,” Sakhalin Governor Valery Limarenko said.

    Discussion also focused on the ‘BRICS Sustainable Development: Environment and Climate’ International Forum slated to take place in May 2025 with the participation of representatives of BRICS and its partners. The event will focus on environmental and climate issues and how to achieve carbon neutrality. The Forum will be a place to come and discuss environmental issues, share experience, and develop joint projects to combat climate change. The choice of region to host the Forum was no accident with its proximity to the Asia-Pacific region and ambitious carbon neutral goals for the end of 2025 creating unique conditions for programmes balancing the environment and energy industry.

    The Far Eastern Energy Forum, also scheduled for next year, is a platform for discussing issues of regional development and establishing a Russian energy security outpost. Sakhalin is an essential Russian producer and processer of hydrocarbons and is actively introducing new forms of energy.

    The Far East is becoming a centre for the development of unmanned systems and technologies. Unmanned systems are an efficient, cost-effective solution for logistics and monitoring vast expanses, complex infrastructure, and the development of extractive industries. As meeting participants noted, the necessary prerequisites are all there for international cooperation and an exchange of experience at the International ‘Unmanned Systems’ Forum and Exhibition. Sakhalin’s Pushisty Drone Port has been earmarked as a place for experts to meet with the authorities and representatives of business.

    Meeting participants decided the best way to coordinate cooperation under the agreements would be to establish an Organizing Committee under the leadership of Sakhalin Governor Valery Limarenko and a permanent joint Sakhalin Government and Roscongress Foundation working group under the leadership of Sakhalin Region Government Chairman Alexey Belik and First Deputy CEO of the Roscongress Foundation and EEF Director Igor Pavlov.

    An important component of cooperation will include a briefing by Sakhalin Governor Valery Limarenko on infrastructure projects for territorial development on the sidelines of EEF 2025, where the results of work accomplished can be considered with a place for further discussion. The Governor’s participation in the Governors’ Club and Lounge at Roscongress Foundation events throughout the year will strengthen cooperation with other regions and create additional opportunities to share experience solving urgent problems.

     

     

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    MIL OSI Economics

  • MIL-OSI: Bitfarms Provides October 2024 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    – Earned 236 BTC in October 2024 & Increased Bitcoin Treasury to 1,188 BTC –

    This news release constitutes a “designated news release” for the purposes of the Company’s amended and restated prospectus supplement dated October 4, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Nov. 01, 2024 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global leader in vertically integrated Bitcoin data center operations, today announced its latest monthly production report. All financial references are in U.S. dollars.

    In October, Bitfarms announced a second hosting agreement with Stronghold Digital Mining, Inc. (“Stronghold”) that will deploy 10,000 miners, originally scheduled for Yguazu, Paraguay, to Stronghold’s Scrubgrass site. This follows an initial hosting agreement for 10,000 miners signed in September for a total of 20,000 miners to be deployed at Stronghold’s two sites in Pennsylvania. The two hosting agreements support approximately 4 EH/s with energization expected in several tranches over the coming months.

    CEO Ben Gagnon stated, “While we are pleased to have reached our year-end efficiency goal of 21 w/TH three months ahead of schedule, we recognize that we are behind schedule on delivering our mid-year 12 EH/s target. Despite improvements in recent miner shipments, continued miner warranty servicing has impeded the achievement of our hash rate target. We have a strong partnership with Bitmain and appreciate their diligence in rapidly servicing the underperforming miners as deliveries are scheduled to accelerate in the last two months of the year.”

    Mining Review
    October mining operations generated 236 BTC compared to 217 BTC in September reflecting a 3% increase in average operating EH and an 8% increase in Bitcoin difficulty during the month.

    Key Performance Indicators October 2024 September 2024 October 2023
    Total BTC earned 236 217 398
    Month End Operating EH/s 11.5 11.3 6.3
    BTC/Avg. EH/s 22 21 67
    Average Operating EH/s 10.6 10.3 5.9
    Operating Capacity (MW) 310 310 240
    Hydropower (MW) 256 256 186
    Watts/Terahash Efficiency (w/TH) 21 21 35
    BTC Sold 194 173 341


    October 2024 Select Operating Highlights

    • 11.5 EH/s operational at October 31, 2024, up 83% Y/Y.
    • 10.6 EH/s average operational, up 80% Y/Y and up 3% M/M.
    • 22.2 BTC/average EH/s, up 5% M/M and 67% lower Y/Y.
    • 236 BTC earned, up 9% M/M and 41% lower Y/Y.
    • 7.6 BTC earned daily on average, equal to ~$540,000 per day based on a BTC price of $71,000 at October 31, 2024.

    Bitfarms’ BTC Monthly Production

    Month BTC Earned 2024 BTC Earned 2023
    January 357 486
    February 300 387
    March 286 424
    April 269 379
    May 156 459
    June 189 385
    July 253 378
    August 233 383
    September 217 411
    October 236 398
    YTD Totals 2,496 4,090


    October 2024 Financial Update

    • Sold 194 of the 236 BTC earned as part of the Company’s regular treasury management practice for total proceeds of $13.0 million.
    • Added 42 BTC, bringing Treasury to 1,188 BTC, up from 1,147 BTC last month and representing $84.3 million based on a BTC price of $71,000 at October 31, 2024. 
    • Synthetic HODL™ of 802 long-dated BTC call options at October 31, 2024, up from 602 at the end of the prior month.

    Upcoming Conferences and Events

    • November 13-14: Cantor Crypto, Digital Assets & AI Infrastructure Conference (Miami)
    • November 19-20: ROTH Technology Conference (NYC)
    • November 20: Special Meeting of Bitfarms Shareholders (Virtual)
    • December 4: B. Riley Crypto & Energy Infrastructure Conference (NYC)
    • December 12: Northland Growth Conference (Virtual)
    • January 14-15, 2025: Needham Growth Conference (NYC)

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global vertically integrated Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers best-in-class operational performance and uptime.

    Bitfarms currently has 12 operating Bitcoin data centers and two under development, as well as hosting agreements with two data centers, in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://twitter.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • Y/Y or M/M= year over year or month over month
    • BTC or BTC/day = Bitcoin or Bitcoin per day
    • EH or EH/s = Exahash or exahash per second
    • MW or MWh = Megawatts or megawatt hour
    • w/TH = Watts/Terahash efficiency (includes cost of powering supplementary equipment)
    • Synthetic HODL™ = the use of instruments that create BTC equivalent exposure

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the impact of the Stronghold hosting agreements, projected growth, target hashrate, opportunities relating to the Company’s geographical diversification and expansion, deployment of miners as well as the timing therefor, closing of the Stronghold acquisition on a timely basis and on the terms as announced, , the ability to gain access to additional electrical power and grow hashrate of the Stronghold business, performance of the plants and equipment upgrades and the impact on operating capacity including the target hashrate and multi-year expansion capacity, the opportunities to leverage Bitfarms’ proven expertise to successfully enhance energy efficiency and hashrate, and other statements regarding future growth, plans and objectives of the Company are forward-looking information.

    Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of Bitfarms at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Bitfarms to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors, risks and uncertainties include, among others: receipt of the approval of the shareholders of Stronghold and the Toronto Stock Exchange for the Stronghold acquisition as well as other applicable regulatory approvals; that the Stronghold acquisition may not close within the timeframe anticipated or at all or may not close on the terms and conditions currently anticipated by the parties for a number of reasons including, without limitation, as a result of a failure to satisfy the conditions to closing of the Stronghold acquisition; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine digital currency is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the power purchase agreements and economics thereof may not be as advantageous as expected; potential environmental cost and regulatory penalties due to the operation of the Stronghold plants which entail environmental risk and certain additional risk factors particular to the business of Stronghold including, land reclamation requirements may be burdensome and expensive, changes in tax credits related to coal refuse power generation could have a material adverse effect on the business, financial condition, results of operations and future development efforts, competition in power markets may have a material adverse effect on the results of operations, cash flows and the market value of the assets, the business is subject to substantial energy regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to comply with, existing or future energy regulations or requirements, the operations are subject to a number of risks arising out of the threat of climate change, and environmental laws, energy transitions policies and initiatives and regulations relating to emissions and coal residue management, which could result in increased operating and capital costs and reduce the extent of business activities, operation of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse effect on our revenues and results of operations, and there may not have adequate insurance to cover these risks and hazards, employees, contractors, customers and the general public may be exposed to a risk of injury due to the nature of the operations, limited experience with carbon capture programs and initiatives and dependence on third-parties, including consultants, contractors and suppliers to develop and advance carbon capture programs and initiatives, and failure to properly manage these relationships, or the failure of these consultants, contractors and suppliers to perform as expected, could have a material adverse effect on the business, prospects or operations; the digital currency market; the ability to successfully mine digital currency; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power to operate cryptocurrency mining assets; the risks of an increase in electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which Bitfarms and Stronghold operate and the potential adverse impact on profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; volatile securities markets impacting security pricing unrelated to operating performance; the risk that a material weakness in internal control over financial reporting could result in a misstatement of financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to Bitfarms’ filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov), including the MD&A for the year-ended December 31, 2023, filed on March 7, 2024 and the MD&A for the three and six months ended June 30, 2024 filed on August 8, 2024, and its registration statement on Form F-4 (File No. 333-282657) filed by Bitfarms with the SEC (the “registration statement”), which includes a proxy statement of Stronghold that also constitutes a prospectus of Bitfarms (the “proxy statement/prospectus”). Although Bitfarms has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by Bitfarms. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Bitfarms does not undertake any obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Additional Information about the Merger and Where to Find It

    This communication relates to a proposed merger between Stronghold and Bitfarms. In connection with the proposed merger, Bitfarms intends to file with the SEC a registration statement on Form F-4, which will include a proxy statement of Stronghold that also constitutes a prospectus of Bitfarms. After the registration statement is declared effective, Stronghold will mail the proxy statement/prospectus to its shareholders. This communication is not a substitute for the registration statement, the proxy statement/prospectus or any other relevant documents Bitfarms and Stronghold has filed or will file with the SEC. Investors are urged to read the proxy statement/prospectus (including all amendments and supplements thereto) and other relevant documents filed with the SEC carefully and in their entirety if and when they become available because they will contain important information about the proposed merger and related matters.

    Investors may obtain free copies of the registration statement, the proxy statement/prospectus and other relevant documents filed by Bitfarms and Stronghold with the SEC, when they become available, through the website maintained by the SEC at www sec.gov. Copies of the documents may also be obtained for free from Bitfarms by contacting Bitfarms’ Investor Relations Department at investors@bitfarms.com and from Stronghold by contacting Stronghold’s Investor Relations Department at SDIG@gateway-grp.com.

    No Offer or Solicitation

    This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    Participants in Solicitation Relating to the Merger

    Bitfarms, Stronghold, their respective directors and certain of their respective executive officers may be deemed to be participants in the solicitation of proxies from Stronghold’s shareholders in respect of the proposed merger. Information regarding Bitfarms’ directors and executive officers can be found in Bitfarms’ annual information form for the year ended December 31, 2023, filed on March 7, 2024, as well as its other filings with the SEC. Information regarding Stronghold’s directors and executive officers can be found in Stronghold’s proxy statement for its 2024 annual meeting of stockholders, filed with the SEC on April 29, 2024, and supplemented on June 7, 2024, and in its Form 10-K for the year ended December 31, 2023, filed with the SEC on March 8, 2024. This communication may be deemed to be solicitation material in respect of the proposed merger. Additional information regarding the interests of such potential participants, including their respective interests by security holdings or otherwise, will be set forth in the proxy statement/prospectus and other relevant documents filed with the SEC in connection with the proposed merger if and when they become available. These documents are available free of charge on the SEC’s website and from Bitfarms and Stronghold using the sources indicated above.

    Investor Relations Contacts:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contacts:

    Québec: Tact
    Louis-Martin Leclerc
    +1 418-693-2425
    lmleclerc@tactconseil.ca

    The MIL Network

  • MIL-OSI Asia-Pac: Shri Rajesh Kumar Singh assumes the office of Defence Secretary

    Source: Government of India

    Posted On: 01 NOV 2024 11:25AM by PIB Delhi

    Shri Rajesh Kumar Singh took over as Defence Secretary at South Block in New Delhi on November 01, 2024. He is a 1989-batch IAS officer from Kerala cadre, who had assumed the charge of the Officer on Special Duty (Defence Secretary-designate) on August 20, 2024.

     

     

    Before taking charge, Shri Rajesh Kumar Singh laid a wreath and paid homage to the fallen heroes at the National War Memorial, New Delhi. “The nation will remain forever indebted to our brave soldiers who make the supreme sacrifice in the service of the motherland. Their extraordinary bravery and sacrifice is a source of strength & inspiration for us to make India a safe and prosperous nation,” he said.

     

     

    Earlier, Shri Rajesh Kumar Singh was holding the charge of Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry from April 24, 2023 to August 20, 2024. Prior to that, he held the post of Secretary, Department of Animal Husbandry & Dairying, Ministry of Fisheries, Animal Husbandry & Dairying.

     

    The officer has held many other important positions in the Union Government as Director, Works and Urban Transport in the Ministry of Urban Development, Commissioner (Lands) – DDA, Joint Secretary – Ministry of Petroleum and Natural Gas, Joint Secretary – Department of Agriculture, Cooperation & Farmers Welfare and Chief Vigilance Officer – Food Corporation of India. He has also held important positions in the State Government as Secretary, Urban Development and lately as Finance Secretary, Government of Kerala.

     

    Shri RK Singh succeeds Shri Giridhar Aramane, a 1988-batch IAS officer of Andhra Pradesh cadre, who superannuated from service on October 31, 2024.

    *****

    SR/Savvy

    (Release ID: 2069996) Visitor Counter : 76

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Shri Piyush Goyal concludes successful visit to Kingdom of Saudi Arabia, strengthening India-Saudi Arabia economic ties at the 8th Edition of Future Investment Initiative

    Source: Government of India (2)

    Shri Piyush Goyal concludes successful visit to Kingdom of Saudi Arabia, strengthening India-Saudi Arabia economic ties at the 8th Edition of Future Investment Initiative

    Shri Piyush Goyal  co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC) along with Minister of Energy, Kingdom of Saudi Arabia, His Royal Highness Prince Abdulaziz bin Salman Al-Saud

    Posted On: 01 NOV 2024 11:07AM by PIB Delhi

    Union Minister of Commerce and Industry, Shri Piyush Goyal, successfully concluded his visit to the Kingdom of Saudi Arabia. During the visit, Shri Piyush Goyal participated in the Plenary Session of the 8th Edition of Future Investment Initiative (FII), with representatives from global Governments and the industry. He highlighted the critical role of international partnerships and economic diplomacy in fostering global cooperation, innovation, technological advancement, and investment. He urged global investors to seize emerging opportunities in India, particularly in high-growth sectors such as artificial intelligence, renewable energy, digital infrastructure, and advanced manufacturing.

    Shri Piyush Goyal also co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC) along with Minister of Energy, Kingdom of Saudi Arabia, His Royal Highness Prince Abdulaziz bin Salman Al-Saud on 30th October 2024 in Riyadh. The Strategic Partnership Council was established in 2019, following the visit of the Hon’ble Prime Minister Shri Narendra Modi to the Kingdom of Saudi Arabia in October 2019.

    The Committee reviewed the progress achieved by the four Joint Working Groups: Agriculture and Food Security; Energy; Technology and Information Technology; and Industry and Infrastructure. They noted the deepening of bilateral economic partnership between India and Saudi Arabia and deliberated on ways to enhance trade and investment.

    The Minister held fruitful ministerial engagements in Riyadh, including with the Minister of Energy, Minister of Industry and Mineral Resources and Minister of Investment. These engagements focused on collaborative initiatives in trade, energy, and technology. These discussions culminated in a series of actionable agreements, aimed at enhancing trade volumes and facilitating a smooth flow of investments between the two countries. The agreements emphasise cooperation in energy transition, digital transformation, and the exchange of expertise to accelerate economic growth.

    Shri Piyush Goyal also met with Mr. Peter Herweck, CEO of Schneider Electric and Mr. William E. Ford, Chairman and CEO of General Atlantic, to discuss India’s economic landscape and investment opportunities across sectors.

    In recent years, many bilateral agreements have been formalised between India and Saudi Arabia, covering sectors such as food exports, pharmaceuticals, electrical interconnectivity, energy, small and medium enterprises, digitization and electronic manufacturing. Both countries are also exploring collaboration in emerging fields like fintech, new technologies, energy efficiency, clean hydrogen, textiles, mining, etc. The Committee Meeting reviewed these developments and reaffirmed their commitment to advancing cooperation across various areas of shared interest.

    Later in the day, Minister Shri Piyush Goyal interacted with the Institute of Chartered Accountants of India (ICAI) chapter in Saudi Arabia and emphasized the role of chartered accountants in supporting India’s expanding global trade network. Discussions highlighted ICAI’s efforts to promote Indian standards globally, including initiatives to upskill professionals and bolster India’s position in global financial services.

    The Minister launched the Lulu Wali Diwali Festival at the Lulu Hypermarket by lighting a Big Diya made with LED, furthering India-Saudi cultural and economic ties. The Diwali Utsav, organised in partnership with Lulu Hypermarket, brings the festive spirit of India’s Festival of Lights to Saudi Arabia, showcasing an array of Indian products, from festive decor and traditional foods to handicrafts. The launch was followed by unveiling of a giant product wall comprising 10,000+ Indian products including Ghee from Uttarakhand, Ladakh Apple, Indian Cavendish banana, Dragon Fruit from Maharashtra, new range of Millets based breakfast cereals, and Qaadu Organic beauty products.

    At the Indian Embassy in Riyadh, the Minister unveiled the One District, One Product (ODOP) Wall, featuring unique products from various districts across India. The ODOP initiative, part of the Government of India’s “Vocal for Local” campaign, aims to promote regional craftsmanship by showcasing the rich cultural heritage of India through distinctive, high-quality products.

    This visit marks a significant milestone in strengthening the strategic partnership between India and the Kingdom of Saudi Arabia. It underscores both nations’ commitment to deepening economic ties and addressing global challenges through collaborative efforts. The outcomes of the discussions are expected to unlock new avenues for investment and trade, driving economic growth and innovation in both countries.

    ***

    AD/CNAN

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    MIL OSI Asia Pacific News

  • MIL-OSI: Energy Systems Group Receives 2024 HIRE Vets Platinum Medallion Award for Excellence in Veteran Hiring and Retention

    Source: GlobeNewswire (MIL-OSI)

    NEWBURGH, Ind., Nov. 01, 2024 (GLOBE NEWSWIRE) — Energy Systems Group (ESG), a leading provider of sustainable infrastructure and energy services, is proud to announce it has received the Platinum Medallion Award in the 2024 HIRE Vets Medallion Program, awarded by the U.S. Department of Labor and U.S. Acting Secretary of Labor Julie A. Su. This prestigious recognition honors ESG’s ongoing commitment to recruiting, hiring, and developing veterans and transitioning service members. ESG has now achieved Medallion recognition for the second consecutive year.

    The HIRE Vets Medallion Program is the only federal program that recognizes employers who successfully recruit, hire, and retain veterans. ESG was among an elite group of companies across the country awarded Platinum status, representing a strong commitment to building a workforce enriched by the skills and experiences of former military personnel.

    “We are honored to receive the prestigious 2024 HIRE Vets Platinum Medallion Award,” said Steve Craig, President of Energy Systems Group. “We are committed to engaging and employing veterans and service members across ESG. Their skills, leadership, and resilience are invaluable to our team, and together, we’re building a dedicated workforce that reflects the values of service to our country.”

    Supporting Veterans Beyond Recruitment

    Since its founding in 1994, ESG has welcomed many veterans and active-duty reservists to its team, including new hires from the Navy, Air Force, and Army. ESG’s support for veterans goes beyond hiring: initiatives include the formation of an employee-led Veteran & Military Resource Group (VMRG), which provides veterans and military members with leadership training and development resources. Through VMRG, ESG offers a forum for veterans to connect, grow, and contribute their unique strengths to ESG’s mission.

    Joe Simonelli, Colonel, U.S. Army (Ret.), ESG’s Department of Defense Engagement Executive and a 2024 finalist for the National Veterans Council’s Distinguished Service Awards, emphasized the impact of ESG’s support for veterans: “Joining ESG has been a seamless transition from military service to a career where my values align with the company’s mission. ESG’s commitment to veterans isn’t just about recruitment; it’s about creating pathways for professional growth and leadership that allow us to continue serving in meaningful ways.”

    ESG’s commitment to veterans is integral to its identity as an employer of choice for veterans entering civilian careers. The range of perspectives, technical expertise, and resilience veterans bring strengthens ESG’s team and deepens its commitment to providing top-tier energy solutions across the nation.

    About Energy Systems Group

    Energy Systems Group (ESG) is a leading sustainable energy solutions provider specializing in energy efficiency, sustainability, resiliency, and infrastructure improvement solutions in the government, education, healthcare, commercial, and industrial sectors. Energy Systems Group also offers a full range of sustainable infrastructure solutions, including waste-to-energy, distributed generation, and renewable energy.

    For information about ESG careers and how veterans can bring their unique backgrounds to a mission-driven organization, visit EnergySystemsGroup.com/careers.

    About the HIRE Vets Medallion Program:

    The HIRE Vets Medallion Award is earned by businesses that demonstrate unparalleled commitment to attracting, hiring and retaining veterans. The 2025 HIRE Vets Medallion Award application period will open to employers on January 31, 2025. For more information about the program and the application process, visit HIREVets.gov.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1165caf4-b9ec-457c-b164-01237cdf3f32

    The MIL Network

  • MIL-OSI Video: Clean Energy in Action: Touchdown for Clean Hydrogen

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

    An installment in EERE’s Clean Energy in Action series, this video highlights how the Philadelphia Eagles became the first professional sports team in North America to make use of clean hydrogen that is produced on site. https://www.energy.gov/eere/articles/fuel-eagles-fuel

    https://www.youtube.com/watch?v=VcZ_uj7F1xo

    MIL OSI Video

  • MIL-OSI: $TOCKHOLDER ALERT: The M&A Class Action Firm Continues To Investigate The Merger – IPG, VTS, AVTE, MHLD

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Jan. 25, 2025 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

    • The Interpublic Group of Companies, Inc. (NYSE: IPG), relating to the proposed merger with Omnicom Group Inc. Under the terms of the agreement, Interpublic shareholders will own 39.4% of the combined company.

    Click here for more https://monteverdelaw.com/case/interpublic-group-of-companies-inc-ipg/. It is free and there is no cost or obligation to you.

    • Vitesse Energy, Inc. (NYSE: VTS), relating to the proposed merger with Lucero Energy Corp. Under the terms of the agreement, Vitesse stockholders are expected to own approximately 80% of the Company and Lucero shareholders are expected to own 20%.

    Click here for more https://monteverdelaw.com/case/vitesse-energy-inc-vts/. It is free and there is no cost or obligation to you.

    • Aerovate Therapeutics, Inc. (NASDAQ: AVTE), relating to a proposed merger with Jade Biosciences. Under the terms of the agreement, pre-merger Aerovate stockholders are expected to own approximately 1.6% of the combined company, while pre-merger Jade stockholders are expected to own approximately 98.4% of the combined entity.

    Click here for more information https://monteverdelaw.com/case/aerovate-therapeutics-inc-avte/. It is free and there is no cost or obligation to you.

    • Maiden Holdings, Ltd. (NASDAQ: MHLD), relating to the proposed merger with Kestrel Group LLC. Under the terms of the agreement, each issued and outstanding common share of Maiden will be converted into the right to receive one common share in the combined company.

    Click here for more https://monteverdelaw.com/case/maiden-holdings-ltd-mhld/. It is free and there is no cost or obligation to you.

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    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

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    MONTEVERDE & ASSOCIATES PC
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    jmonteverde@monteverdelaw.com
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    Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network

  • MIL-OSI United Kingdom: Council service update, January 25

    Source: Northern Ireland – City of Derry

    Council service update, January 25

    25 January 2025

    3.30pm

    Council continues to work with local agencies in the ongoing emergency response to Storm Éowyn which has resulted in some damage to roads and property throughout the City and District.

    Staff continue to be on site carrying out health and safety inspections and providing services from early this morning. Teams from across all Council services have been meeting and co-ordinating efforts throughout the weekend and this work will continue over the coming days.

    The health and safety of both staff and the general public is our first priority and for that reason we would encourage the public to be patient and to expect some delays to services.

    As we continue to work with partner agencies work to assess and remedy damage caused by Storm Éowyn members of the public should exercise caution when close to obvious debris and damage, including power lines. The public are also advised to take note of further yellow weather warnings in place over the weekend relating to winds, snow and ice and to take the appropriate measures to keep them and their property safe. Please follow the Met Office for updates.

    Bin collections

    Refuse Collection crews are out working today servicing bins that were missed from Fridaydq. For any bins not emptied today the advice is to make contact with our Customer Services Team on 028 71 374107 on Monday morning or by email at refuse&[email protected] and arrangements will be made to have them emptied as soon as possible.

     

    Cemeteries and outdoor sites

    The City Cemetery, Ballyoan, Altnagelvin and Strabane Cemeteries are all open to the public. Users are strongly advised to take due care and attention at all facilities both for fallen trees and for slippy pathways. The public are urged not to visit historical sites. Our staff are on site to clear all main arterial routes at our facilities as a priority.

    Recycling Centres

    All of our recycling centres, with the exception of Plumbridge, are open.

     

    Leisure Centres

    All Council Leisure centres are open as normal.

    Community Assistance

    All of our Leisure Centres are open and available to the public who are without power or water and who require assistance with heat, tea/coffee and phone charging and shower facilities. We have extended the opening hours at Templemore, Melvin and Derg Valley Leisure Centre to 10pm tonight, Saturday.

    Tomorrow Sunday, Templemore, Foyle Arena and Melvin will be open from 9am – 6pm while Riversdale and Derg Valley Leisure Centres will open from 1pm – 6pm

    Council facilities

    The Guildhall, Tower Museum and the Alley Theatre are open and operating as normal.

     

    Street cleansing

    Our street cleansing teams have been out and about from this early morning servicing the city and towns and working with grounds maintenance teams to make sure Council facilities are safe to access.

    Grass pitches

    All Council grass pitches and 3g pitches will remain closed for the weekend. User groups are being contacted.

     

    Parks and play parks

    Ongoing health and safety inspections are ongoing today to get as many of our parks, play areas and greenways open to the public. There are several trees down at the Bay Road and Strathfoyle greenways and a number of other parks, we have teams out on site carrying out clearance and repair works. The public are asked to avoid areas where there are trees and to take due care and attention as there may be debris or fallen branches etc.

    Again, the public are asked to be patient and expect some delays to opening of facilities after the storm to allow these checks and possible clean-up work to be carried out.

     

    Looking ahead

    Please take note of further weather warnings in place over the weekend including a YELLOW warning for SNOW & ICE for Northern Ireland between 1800hrs on Saturday 25th and 1000hrs on Sunday 26th January 2025: MEDIUM Likelihood of LOW Impacts and a YELLOW warning for WIND for Northern Ireland between 1000hrs and 1900hrs on Sunday 26th January 2025: MEDIUM Likelihood of LOW Impacts

    Strong winds affecting Northern Ireland, potentially disrupting transport and infrastructure

    Further information:  UK weather warnings – Met Office

    Emergency Contact numbers:

    Emergency services 999 or 112

    Flooding Incident Line  – 0300 2000 100

    NI Electricity Networks – 03457 643 643

    NI Gas Emergency Service – 0800 002 001

    NI Water – 03457 440 088

    Housing Executive – 03448 920 901

    Report a blocked road – 0300 200 7891

    MIL OSI United Kingdom

  • MIL-OSI USA: Gov. Kemp: SOLARCYCLE Accelerates Plans for Polk County Operation

    Source: US State of Georgia

     Atlanta, GA – Governor Brian P. Kemp today announced that SOLARCYCLE, an advanced technology-based solar recycling company, will accelerate its expansion into Polk County to meet increasing demand for solar panel recycling services. The company is investing an additional $62 million to increase its panel recycling capacity to 10 million solar panels per year and create 640 new full-time jobs.

    “As Georgia continues to lead the nation in attracting jobs from emerging industries, we’re thankful SOLARCYCLE is moving up creation of these opportunities in northwest Georgia, benefitting that entire region’s economy,” said Governor Brian Kemp. “I want to thank our local and state partners who made this accelerated growth in Polk County possible, and I look forward to its impact in the years to come.”

    The facility is located directly across the street from the company’s previously announced 1.1-million-square-foot solar glass factory that will employ an additional 617 people. The factory will use recycled materials from retired solar panels from the recycling facility to make five to six gigawatts worth of solar glass every year. The factory positions the company as one of the first manufacturers of specialized glass for crystalline-silicon (c-Si) photovoltaics in the U.S.

    “We are pleased to accelerate our work in Cedartown in partnership with Governor Kemp and Polk County. In response to continued demand for solar recycling and domestic manufacturing, we will be able to scale operations and begin hiring sooner than originally planned,” said Suvi Sharma, CEO and Co-Founder at SOLARCYCLE. “We applaud Governor Kemp for his leadership supporting clean energy policy that has made it possible to scale solar manufacturing in the state, and bring good jobs and meaningful investment to local communities as a result. This is exactly what the future of American manufacturing looks like and SOLARCYCLE is proud to be at the helm.”

    SOLARCYCLE has acquired an existing building at 270 North Park Boulevard in Cedartown, adjacent to the new facility under construction at Cedartown North Business Park, a Georgia Ready for Accelerated Development (GRAD) certified site. The existing 255,000-square-foot building will be renovated to house the company’s solar panel recycling operations.

    The facility is move-in-ready and will be operational in the second half of 2025. SOLARCYCLE is hiring full-time jobs in manufacturing, engineering, management, research and design, and support staff. Open roles are available at www.solarcycle.us/careers.

    “The decision by SOLARCYCLE to expedite their manufacturing process by refurbishing a currently vacant facility and creating additional employment opportunities is a true testament to their commitment as a long-term corporate sponsor in Cedartown-Polk County,” said Chris Thomas, President and CEO of Development Authority of Polk County. “This expansion not only underscores the confidence that businesses have in our community as a place to invest but also promises significant economic benefits.  We are excited about the opportunities this expansion brings and remain dedicated to supporting SOLARCYCLE’s continued growth and success.”

    Senior Regional Project Manager Lori Dowdy represented the Georgia Department of Economic Development’s (GDEcD) Global Commerce team on this competitive project in partnership with the Development Authority of Polk County, Georgia Power, and Georgia Quick Start.

    “SOLARCYCLE’s technology is important because it takes materials that would otherwise end up in a landfill and puts them back in the supply chain, effectively reducing our reliance on importing new materials,” said GDEcD Commissioner Pat Wilson. “Northwest Georgia has been a center of manufacturing in Georgia for decades – from providing the flooring we use in our homes and offices to now producing technology for clean energy to power those same buildings. We are excited that our partners and SOLARCYCLE were able to work together to bring the company’s recycling operations online earlier.”

    Georgia is a Top Ten state for installed solar, ranking seventh by cumulative solar capacity, according to the Solar Energy Industries Association. Georgia’s energy solutions providers are helping to accelerate the development of renewable energy products by lowering risks, reducing costs, providing access to innovative industry research, and investing in a superior infrastructure network.

    About SOLARCYCLE

    SOLARCYCLE is a technology-driven platform designed to maximize solar sustainability by offering solar asset owners a low-cost, eco-friendly, comprehensive process for recycling retiring solar panels and technologies and repurposing them for new uses. The company’s proprietary technology allows it to extract 95% of the value from solar panels, such as silver, silicon, copper, and aluminum, and to recycle or repurpose panels for new uses. Experts in solar technology, recycling, and sustainability founded SOLARCYCLE in 2022 to accelerate the circular economy for solar and renewables. www.SOLARCYCLE.us.

    MIL OSI USA News

  • MIL-OSI Canada: Keynote – 2024 Nuclear Law School

    Source: Government of Canada News

    On October 25, 2024, Pierre Tremblay, CNSC President and CEO, delivered the keynote address at the Canadian Nuclear Law Organization’s Nuclear Law School 2024, held in Toronto, Ontario. In his remarks, he spoke about areas of focus for the CNSC and the important function the CNSC’s Legal Services team plays in supporting Canada’s nuclear regulator.  

    – Check against delivery – 

    Introduction

    Good afternoon, everyone. Thank you for that kind introduction.  

    Bonjour. Merci pour cette aimable présentation. 

    I would like to acknowledge that we are gathered here today on the traditional territory of many nations, including the Mississaugas of the Credit, the Anishnabeg, the Chippewa, the Haudenosaunee and the Wendat peoples, and on what is now home to many diverse First Nations, Inuit, and Métis peoples. 

    I am honoured to work with and learn from communities across unceded lands throughout Canada, and want to acknowledge all First Nations, Inuit, and Métis peoples who’s original and treaty territories we stand upon across Turtle Island.

    As mentioned, I am Pierre Tremblay, President of the 

    Canadian Nuclear Safety Commission, or CNSC. I have now had the privilege of leading the CNSC for almost 3 months, and I could not be happier to be speaking to you all today on behalf of the regulator. 

    I’m so pleased you have also had the opportunity to hear from some of the CNSC’s many experts, with Pascale Bourassa speaking about the practical considerations around compliance with and enforcement of the nuclear regulatory requirements for Canadian export controls. 

    And from Catherine Howlett on the role of the regulator and how we intend to manage licensing decisions in the context of the Impact Assessment Act. 

    I myself have 40 years in Canada’s nuclear sector, all of which have been very rewarding. My career has given me a deep appreciation and respect for the people who work in the sector and their shared focus on safety and the culture that supports it. 

    My new position with the CNSC is affording me the opportunity to play an essential role in the nuclear sector by serving the public in protecting Canada’s environment and its people. 

    The CNSC is a world class nuclear regulator and I’m honoured to be leading this organization through such an exciting period for the nuclear sector. 

    For my remarks this afternoon, I’d like to speak about the work the CNSC is doing to fulfil our important mandate, while ensuring our readiness for the future.

    Important Work of the Regulator

    As Canada’s nuclear regulator, the CNSC oversees the full lifecycle of nuclear facilities and activities, regulating the use of nuclear energy and materials to protect the health, safety, and security of people and the environment while ensuring Canada’s respect for its international obligations, including non-proliferation. 

    All licensing decisions are made by the Commission, a quasi-judicial, independent tribunal set up at arm’s length from government, and with no ties to the nuclear industry. 

    This is an interesting and crucial time for Canada’s nuclear sector. With a growing global energy demand, driven by electrification and our collective response to climate change, the potential for nuclear as a reliable baseload energy source is significant.

    Given Canada’s long history and expertise in the nuclear field, there is of course a strong interest in maintaining its competitive advantage, and to keep pace with countries that are heavily investing in nuclear.

    While the CNSC is independent and impartial, we are aware of and engaged with the external environment in which nuclear operates. 

    The increased attention on and priority of nuclear are important factors motivating the CNSC to ensure regulatory readiness and efficiency. 

    This is particularly true as we prepare for the eventual deployment of advanced and small modular reactor technologies.

    In regulating to ensure safety, readiness and efficiency is achievable with no corners being cut. Our expectations for industry are the same. Together, we can all ensure the safe deployment of nuclear projects.

    The possibility of the broad deployment of small modular reactors – or SMRs – requires us to be ready in new and different ways.

    This is just one driver to modernize our regulatory framework and practices. 

    As a part of our modernization efforts, we undertook a full strategic review of the CNSC’s regulatory framework to identify gaps and opportunities for improvement to ensure clarity of requirements for SMRs, such as shifting from a prescriptive approach to a technology-neutral performance-based approach.

    This includes proposed Nuclear Security Regulations that respond to changes in security threats and adapt to technological advancements. 

    The current regulations do not in our view adequately consider a risk-informed approach – nor do they consider different technologies, sizes, locations, and alternative approaches to address potential security threats and risks. 

    This could prevent licensees and proponents from using new security technologies or innovative practices that meet – or exceed – the regulatory objective to delay potential adversaries. 

    Mind you, modernizing our regulations isn’t new. It is a continuation of years of work and something the CNSC is always in the process of doing.

    For example, in 2020, following extensive consultation, the Radiation Protection Regulations were updated to enhance protections for nuclear sector works, including accommodations for workers who are breastfeeding, and a lower annual limit for radiation doses to the lens of the eye.

    This is just one example where we have leveraged over 20 years of experience with the Nuclear Safety and Control Act and advances in science to ensure our regulatory framework reflects our current and modern reality.

    By necessity, this work is ongoing. As the sector evolves, so does the regulatory landscape.

    We are also ensuring we do not work in isolation. As we modernize and ready ourselves for new technologies, we continue to look for ways to collaborate and coordinate with other government agencies here at home, as well as our regulatory counterparts around the world. 

    For example, the CNSC is working closely with the Impact Assessment Agency of Canada to ensure processes are well aligned to reduce duplication of work. 

    The CNSC recognizes the vital role of the Impact Assessment Agency of Canada. The renewed emphasis on nuclear in the pursuit of clean growth requires many agencies to play equally important roles.

    We remain committed to supporting the work of our partners and the Government’s action plan – Building Canada’s Clean Future – while continuing to honour our own commitment of being efficient as the nuclear safety regulator.

    It’s not just coordination at home. International cooperation has far-reaching benefits for world-wide nuclear safety and helps to ensure a streamlined and safe approach to deployment for these projects. 

    CNSC along with our colleagues in the US and UK have taken essential steps to enable the sharing of knowledge and best practices to foster the safe deployment of nuclear technologies worldwide. 

    Agreements such as the trilateral Memorandum of Cooperation between the CNSC, the US Nuclear Regulatory Commission and the UK’s Office for Nuclear Regulation support collaboration on the technical reviews of advanced reactor and SMR technologies.

    Under this agreement we work together to develop shared technical assessment approaches, collaborate on pre-application activities to ensure mutual preparedness, and collaborate on research, training, and in the development of regulatory approaches. 

    Preparing for the future is a global effort. When we join forces with international organizations, our collective expertise can grow considerably and accelerate our progress, while also enhancing our primary focus on safety. 

    Together, we will be well-equipped to manage any challenges that we may face. 

    The CNSC’s mandate also includes communicating objective scientific, technical, and regulatory information to the public. 

    As the regulator, we must instill confidence in Canadians that decisions are risk-informed, evidence- and science-based. And that the safety of Canadians and the environment are at the forefront of all that we do. 

    We do this by communicating and engaging with the public we serve – and by disseminating objective information to the public. 

    Nuclear technologies and activities are not limited by Canada’s provincial and territorial borders. 

    And so, we share information with and provide opportunities for engagement to all Canadians, not just those in the traditional nuclear-host communities. 

    The CNSC also encourages open dialogue through consultation and engagement, with staff from across our organization engaging with communities and stakeholders nationwide.

    In practice, this includes participating in community events, engaging with the public and intervenors during Commission proceedings, delivering educational presentations, and continuing to prioritize relationship-building with Indigenous Nations and communities through continued and meaningful engagement, consultation and mutual learning.

    Effective communication and engagement build trust through openness, transparency and listening – and public trust is critical. 

    We are doing our part and expect industry to do the same. 

    The CNSC has outlined such expectations clearly in our regulatory documents for Indigenous engagement and public information and disclosure. 

    Proponents and industry have the responsibility to develop meaningful, long-term relationships with Indigenous Nations and communities whose treaty lands, territories, and potential and established rights could be impacted by nuclear activities. 

    They must also develop and maintain programs that ensure effective communication with the public as a licensing condition. 

    Only through such efforts will they earn trust and support for their projects. 

    We as the regulator will be watching and expect performance to be maintained as new technologies are sought after. 

    Internal efforts

    I have mentioned a few times today, that safety is our top priority. A strong safety culture is an essential component, helping to build trust within the organization, as well as with the public we serve.

    That is why the CNSC continues to prioritize understanding and strengthening our regulatory safety culture through various mechanisms, most recently through the Independent Safety Culture Assessment led by the International Atomic Energy Agency, or IAEA. 

    With almost 80 years of nuclear safety and security in Canada, our long history has taught us the importance of self-reflection and the need for continuous improvement, and that complacency is the enemy of excellence.

    We know that a culture for safety is an ongoing journey, which is why we continue to look for opportunities such as this mission to support our reflection and self-improvement. The IAEA recognized this in their preliminary findings, noting that we demonstrate a continued commitment for external review to help continuously improve. They recognized the strong personal commitment of staff to the CNSC safety mission, and our recognition that we face a significant amount of change in the coming years which we will need to continue to prepare for.

    The CNSC has also worked to better understand the important role diversity and inclusion play in safety culture. We know that diverse voices lead to better decision-making and better safety outcomes. 

    While I may not have faced the challenges in my career that some have, I am very aware of the need to direct our energies and efforts to ensure diversity in the talent pipeline. 

    Efforts such as this will let us engage the best and the brightest. It will foster innovation and improve our regulatory decisions. Complex challenges like those we face in the nuclear sector require varied perspectives. 

    Conclusion

    Many of you may be wondering, where do I fit? What role do I have to play? 

    There is value in gaining operational experience, which can be obtained in many ways. We live in a dynamic world, and our legislative framework is ever evolving. Embrace that uncertainty and the change that comes with it and challenge yourselves to continuously grow and learn. 

    The CNSC’s Legal Services team is a great example of this. They are an integral part of our organization, both in day-to-day operations as well as part of our management team. They act as counsel at Commission hearings and represent the CNSC in litigation. 

    Our Legal Services team directly supports the business of the CNSC as the regulator and, as such, contributes to the broader nuclear sector. 

    They do this by providing in-house legal advice to the CNSC, including advice on the interpretation of the Nuclear Safety and Control Act and its related regulations and other legislation that may affect CNSC operations. With their experience and knowledge, they assist the Commission in its modernization efforts to find ever more effective means of delivering on its mandate.

    As lawyers, you know that you do not make policy. You interpret the law and give advice. You are not in a position to dictate outcomes; rather you provide strategic legal perspectives that bring valuable insight and contributions through your work.

    There is a necessary balance here. Courageous decision-making is needed at this time, and your legal advice to your clients can help them advance their important priorities. 

    We are at a critical point in history. And we have lots to do. 

    I can reassure you that the CNSC will be here making sure that safety remains top of mind for everyone. 

    There is a strong foundation in place and a great deal of work already underway to ensure we are ready. I am eager to guide the CNSC as an organization as we continue this journey.

    This is a very exciting time for the nuclear sector, and I look forward to what the future holds.

    Thank you again for inviting me to speak at your 2024 Nuclear Law School, I look forward to answering any questions you may have. 

    MIL OSI Canada News

  • MIL-OSI Africa: Presidents, Energy Ministers, Investors and Independent Power Producers (IPP) to Meet in Togo for West Africa Energy Cooperation Summit

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

    LOMÉ, Togo, October 31, 2024/APO Group/ —

    The West Africa Energy Cooperation Summit (WA-ECS) is set to tackle project development bottlenecks across the ECOWAS region and drive sustainable energy development across West Africa from 3-5 December 2024, in Lomé, Togo. The response from the private sector, who are actively looking for energy projects, but often frustrated by the pace of development, tells us this meeting is long overdue.

    Under the distinguished patronage of the President of the Togolese Republic, H.E. Honourable Faure Essozimna Gnassingbé, WA-ECS will address regional infrastructure and the energy projects critical to economic growth, driving forward West Africa’s critical mineral resource expansion programme in cooperation with power generation, and encouraging cross-border cooperation that will bolster regional energy development.

    With success stories and blueprints from Senegal, Nigeria, Benin, Cote d’Ivoire and Togo itself, WA-ECS is urging greater collaboration between countries, sectors, private and public, to create new pathways and to reduce risk.  

    The theme for the summit is ‘Empowering West Africa’s Growth Through Strategic Energy Partnership’. In recent years, the pace of large-scale projects has stalled due to the disruptive pace of getting projects green-lit. It is, therefore, vital for all stakeholders to be more direct in their dialogue to reverse this tide and restart the region’s mineral-centric economies, and solar, wind, hydro, and gas IPPs sit firmly at the centre of this initiative.

    “As the developers behind Togo’s first utility-scale renewable energy project, AMEA Power is excited to be part of this pivotal summit, and we anticipate fruitful discussions and solutions that will advance renewable energy in West Africa,” said Hussein Matar, Senior Director, AMEA Power, the lead sponsor of WA-ECS. 

    Positive signs are already visible with the ongoing development of the Lobito Corridor, the Nigeria-Morocco gas pipeline, solar projects in Mauritania, Togo, and Mali, and the regional Battery Energy Storage System (BESS) programme, which is set to become operational in 2025.

    However, the 2030 renewable energy goals to enhance trade through the West African Power Pool (WAPP) are still a long way from being on track, underscoring the need for private sector involvement and deeper collaboration with governments and the mining sector. A series of multilateral and independent investor, utility, and ministerial boardroom discussions will follow the Presidential Day of the summit, pushing energy access up the political agenda at the highest levels.

    Ministers from The Gambia and Benin will be attending and speaking, alongside a strong contingent from the private and financial sectors. Kekeli Efficient Power, Genesis Energy, World Bank, BII, Shell Energy, Proparco, and Masdar are just some of the many who will contribute their unique perspective.

    H.E. Honourable Robert Koffi Messan Eklo, Togo’s Minister of Mines and Energy Resources, says, “As a pivotal energy hub in West Africa, our country is uniquely positioned to lead in advancing regional energy cooperation. The West Africa Energy Cooperation Summit will be a cornerstone event where we can collectively shape the future of energy infrastructure, fostering growth that transcends borders and benefits all.”

    MIL OSI Africa

  • MIL-OSI USA: Golden, colleagues urge the release of untapped LIHEAP funding

    Source: United States House of Representatives – Congressman Jared Golden (ME-02)

    WASHINGTON — Congressman Jared Golden (ME-02) yesterday joined a bipartisan group of House members requesting that U.S. Department of Health and Human Services Secretary Xavier Becerra release the maximum dispersal of Low Income Home Energy Assistance Program (LIHEAP) funding made available from the recent government funding package.

    Golden joined 15 House colleagues in sending a letter to the secretary today, as agencies in Maine are ringing alarm bells about a lack of adequate LIHEAP funds

    “To prevent a lapse in eligible families’ ability to afford their home energy bills this fall, we urge you to immediately release the highest possible amount of LIHEAP funding made available by the Continuing Resolution,” the lawmakers wrote. “It is vital to ensure our seniors and low-income families are provided sufficient resources as temperatures cool in the months ahead.”

    Congress passed a temporary spending deal in September to delay a possible government shutdown through December 20. While this agreement included LIHEAP funding at the annualized rate of over $4 billion, none of that money has been dispersed for LIHEAP recipients to date.

    “As temperatures dip below freezing at night, our agency is inundated with calls from area residents in fuel emergencies. In Aroostook County alone, the number of households qualifying for the Federal Home Energy Assistance Program has increased by 60 percent in five years,”Jason Parent, executive director and CEO of the Aroostook County Action Program said.“At the same time the average household benefit has decreased by nearly $200.  This program is a critical lifeline for so many of our vulnerable seniors and families with children in Maine.”

    “Unfortunately, the demand for this program is more than we can fund. That means more people will have a benefit, but it is going to be a smaller benefit. With higher heating costs, higher grocery and gas costs, that means real people have less money to live,” Megan Hannan, executive director of the Maine Community Action Partnership said. “Our goal is to serve as many households as possible, and to make the benefits worth the work to receive it. We hope Congress understands that people are at risk without enough money to keep their homes warm.”

    Nationwide, an estimated 5 million households receive assistance with heating and cooling costs through LIHEAP, including over 45,000 Maine households. LIHEAP is administered by states and accessed through local Community Action Agencies. Eligibility for LIHEAP is based on income, family size, and the availability of resources. More information on the LIHEAP application process can be found here.   

    Golden has successfully led several efforts to increase Mainers’ access to LIHEAP, including last Congress when he and Senator Collins secured a total of $6.1 billion for the program in FY 2023. Last September, he and the rest of Maine’s Congressional Delegation secured an additional $38 million for Mainers in FY 2024, including $1.4 million for Maine’s tribes.

    Full text of Golden’s letter can be found here, and is included below in full:

     

    +++

     

    October 30, 2024

    The Honorable Xavier Becerra
    Secretary
    U.S. Department of Health and Human Services 
    330 C Street, SW
    Washington, D.C. 20416

    Dear Secretary Becerra:

    We write to urge the immediate release of the highest possible amount of Low-Income Home Energy Assistance Program (LIHEAP) funding available under the September 2024 Continuing Resolution (PL 118-83).

    As you well know, LIHEAP helps households unable to afford to heat their homes in the winter and cool their homes in the summer, providing assistance to at-risk seniors and families. In Fiscal Year 2023 (FY23), more than five million households across the country relied on critical heating assistance from the LIHEAP program. For LIHEAP recipients, this funding is a lifeline, helping prevent them from having to make an impossible choice between staying warm and putting food on the table or affording their medications.

    With the winter months rapidly approaching, releasing the highest amount of funding from the recent government funding package is critically needed to address the growing number of households unable to pay their energy bills. Continued escalation in the Middle East and Russia’s ongoing war in Ukraine have increased uncertainty in the energy market and raised concerns about potential spikes in energy prices. These shifts disproportionately harm those who already struggle to heat their homes and underscore the need for robust funding for LIHEAP. Historically, LIHEAP has been an underfunded and oversubscribed program. This remained true in FY23, with only around 15 percent of qualifying households nationwide receiving heating assistance through the program.

    To prevent a lapse in eligible families’ ability to afford their home energy bills this fall, we urge you to immediately release the highest possible amount of LIHEAP funding made available by the Continuing Resolution. It is vital to ensure our seniors and low-income families are provided sufficient resources as temperatures cool in the months ahead.

    Thank you for your attention to this matter, and we look forward to working with you further on this crucial program.

    Sincerely,

     

    ###

    MIL OSI USA News

  • MIL-OSI: BW Energy Limited – Prospectus approved for listing of bonds

    Source: GlobeNewswire (MIL-OSI)

    BW Energy Limited – Prospectus approved for listing of bonds

    Reference is made to the announcement by BW Energy Limited (the “Company”) on 7 June 2024 about the successful completion of a new senior unsecured bond issue with an initial issue amount of USD 100 million with ISIN NO 0013259663 (the “Bonds”).

    The Financial Supervisory Authority of Norway has today approved a prospectus prepared by the Company in connection with the application for admission to trading and listing of the Bonds on the Euronext Oslo Børs. The admission to listing of the bonds is expected on or about 4 November 2024.

    The prospectus will be made available on the company’s website: www.bwenergy.no/investors/


    For further information, please contact:

    Brice Morlot, CFO BW Energy, +33.7.81.11.41.16 ir@bwenergy.com


    About BW Energy:

    BW Energy Limited is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block in, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalents at the start of 2024.

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

    The MIL Network

  • MIL-OSI Global: Overshooting 1.5°C is risky – that’s why we need to hedge our bets

    Source: The Conversation – UK – By Carl-Friedrich Schleussner, Research Group Leader, International Institute for Applied Systems Analysis (IIASA)

    Further warming hugely increases the risk we will pass climate tipping points, such as the collapse of Greenland’s ice sheet. Michal Balada / shutterstock

    The global response to climate change has gained momentum since the 2015 Paris agreement, yet it remains inadequate to meet the scale of the challenge. That agreement established the goal of holding global warming to well below 2°C, and to pursue efforts to limit it to 1.5°C. To achieve this, greenhouse gas emissions should peak and decline as soon as possible.

    The latest reports of the UN Environment Programme, the International Energy Agency and others have suggested that we are on the cusp of global emissions peaking. However, halting the increase in annual emissions is only the first step. Failure to act earlier and more decisively to bring emissions down to net zero has made limiting global warming to 1.5°C an uncomfortably close call.

    The IPCC has looked at “pathways” to keeping 1.5°C in reach. In nearly all of these, temperature rises will exceed 1.5°C, after which warming is reversed by humanity removing more carbon from the atmosphere than it emits. This temporary breach of 1.5°C for at least a few decades is referred to as “overshoot”.

    In a recent study in the journal Nature, we discuss the pitfalls of being overly optimistic about the feasibility and safety of such temperature overshoot scenarios. Excessive confidence could lead to underestimating the risks associated with going over 1.5°C – even temporarily.

    There is a need to be clear about what climate science does and does not know about overshoot, and plan accordingly. This means that, while some risks can be directly reduced by global climate action, others may require additional measures. A responsible strategy to limit near- and long-term climate risks requires both stringent near-term emission reductions and to develop a large-scale carbon removal capacity.

    What if the planet warms more than we expect?

    Even if warming goes below 1.5°C after the overshoot, the impacts of climate change will not automatically and uniformly reverse. Overshoot comes with irreversible consequences for people and ecosystems, such as species extinction, and the world we return to will be different from the one we failed to safeguard.

    We can’t be certain how much warming a given amount of greenhouse gas emissions will lead to, and overshoot projections are often based on a best estimate. The IPCC, for instance, talks about high overshoot pathways exceeding 1.5°C “by 0.1–0.3°C”.

    But those numbers are just the middle of a wide range of possible outcomes. In reality, uncertainty about how some features of the Earth system will respond to warming, such as the carbon cycle, means that peak warming could be substantially higher – by up to 1°C or more. We cannot even rule out continuous warming after reaching net zero carbon emissions. Every fraction of a degree of warming counts – exceeding 1.5°C by as much as an additional 1°C would come with grave repercussions.

    We may have to remove billions of tonnes of carbon from the atmosphere.
    TR STOK

    A capacity to remove several hundred billion tonnes of CO₂ in this century might be needed to hedge against the risks of high warming outcomes, and to ensure we can bring warming back to 1.5°C once this has been exceeded.

    In fact, our results imply we might need close to 10 billion tonnes of CO₂ removal a year after 2050 (about 25% of current annual emissions). This would require a massive effort, but might just be possible with the rapid scaling up of a range of methods.

    These include well-known strategies such as restoring forests and wetlands and managing the soil better. But it also includes novel methods such as direct air capture technology, in which carbon would be sucked directly from the sky, or bioenergy and carbon capture and storage, which involves extracting CO₂ from the atmosphere and storing it underground.

    Some of these methods may not work out as envisioned due to technological, economic, social or sustainability limitations. But even if they do not work at the scale envisioned, or not at all, we still need to try.

    Limiting near- and long-term climate risks

    Because we can’t be certain exactly how much the climate will warm, we’ll need to limit the risks as much as possible.

    First, we must reduce emissions as fast as possible to slow down Earth’s temperature increase, limit peak warming, and reduce how dependent we ultimately are on removing large amounts of CO₂ to achieve net zero emissions.

    The Paris agreement accommodates such temperature reversal. Even if 1.5°C is exceeded, countries are obliged to hold peak temperatures to “well below 2°C” and to aim for long-term temperature decline.

    However, every fraction of warming will disproportionately make poor and vulnerable people suffer greater hardship, so delaying stringent emissions cuts is not a resilient strategy. The urgency to reduce emissions now should guide the next round of countries’ targets for cutting emissions that are due early next year.

    Second, we should consider hedging against high-risk, high-warming outcomes by building up our capacity to remove carbon and reverse warming. Just as governments hold strategic food and water reserves to weather unexpected disruptions, the world needs to develop the ability to remove large amounts of carbon from the atmosphere. But, given potential limits to how much carbon removal we can scale up in time, we also cannot afford to squander this capacity on any emissions that could be avoided in the first place.

    Investing in this kind of removal capability, on top of pursuing the most ambitious emissions cuts possible, is a no-regrets strategy. Should we have certainty that a more fortunate climate outcome will materialise, being able to remove this scale of carbon would enable us to bring temperatures down faster. And if the warmer side of our projections are realised, we will have put ourselves in a position in which we are best equipped to make temperatures decline again.

    Achieving temperature decline in the long run would limit longer-term climate impacts. For instance, in our study we showed that temperature decline could shave off about 40cm (and potentially up to 1.5 metres) of global sea level rise in 2300. This could be the difference between having a future or not for whole nations of people. It may also limit risks from triggering tipping points in the Earth system, such as the collapse of the Greenland ice sheet or currents in the Atlantic ocean.

    The high-risk outcomes of overshooting 1.5°C means we need to do more, not less, right now – and to focus on bringing temperatures back below 1.5°C in the long run.



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

    Get our award-winning weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.


    Carl-Friedrich Schleussner received funding from European Union’s Horizon 2020 research and innovation
    programme under grant agreement No 101003687 (PROVIDE).

    Gaurav Ganti received funding from European Union’s Horizon 2020 research and innovation programme.

    Joeri Rogelj received funding from European Union’s Horizon 2020 research and innovation programme.

    ref. Overshooting 1.5°C is risky – that’s why we need to hedge our bets – https://theconversation.com/overshooting-1-5-c-is-risky-thats-why-we-need-to-hedge-our-bets-241623

    MIL OSI – Global Reports

  • MIL-OSI Canada: An additional $22.2 million to support farm businesses affected by weather hazards in 2023

    Source: Government of Canada News (2)

    News release

    Canada-Quebec Initiative to Help Mitigate the Impacts of Excess Rainfall in Quebec in 2023

    October 31, 2024 – Quebec City, Quebec – Agriculture and Agri-Food Canada

    The Government of Canada and the Government of Quebec are launching the Canada-Quebec Initiative to Help Mitigate the Impacts of Excess Rainfall in Quebec in 2023 (known as AgriRecovery). The Canada-Quebec Initiative will provide $22,2 million in addition to the sums already allocated by existing programs. The financial support will partially offset the extraordinary costs incurred by vegetable, potato, strawberry and raspberry growers affected by the exceptionally adverse weather conditions of summer 2023.

    André Lamontagne, Minister of Agriculture, Fisheries and Food and Minister responsible for the Centre-du-Québec Region, and the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food, made the announcement today.

    Here are the key points for companies affected by the Initiative:

    • The registration form will be available in December 2024 in the producer’s online account at La Financière agricole du Québec (FADQ).
    • The registration period will run from December 2024 to February 2025.
    • The registration will be online only, and no paper forms will be made available.
    • If necessary, a FADQ staff member will contact the company to obtain information or request additional supporting documents.
    • To demonstrate that they have incurred costs beyond their capacity, companies will have to provide financial data covering the 2022 and 2023 growing seasons if they have not already done so. They will also have to meet the Initiative’s criteria, in particular having incurred a given level of expenditure for the categories eligible for the Initiative.

    In the meantime, companies are asked to create or update their FADQ online account. If they need assistance in this regard, they are asked to contact their service centre.

    To speed up the processing of applications, if they have not already done so, companies participating in AgriStability are encouraged to submit their financial data for the 2023 participation year to the FADQ as soon as possible. For companies not participating in AgriStability, it will be possible to register by filing audited tax documents, such as the T2042 form.

    Full participation details will be available shortly on the FADQ website.

    Quotes

    “Our farmers work so hard every single day, often in the face of different challenges, including unpredictable weather. Our government will always be there to support them and help them build resilience, so they can continue to produce the top-quality products they have become known for.”

    – The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food

    “For our government, it was essential to come to the aid of agricultural businesses to respond to the consequences of exceptional weather, which were disastrous for many of them. I would like to take this opportunity to reaffirm our commitment to supporting farms in their efforts to improve their resilience to the impacts of climate change, for a strong, agile and competitive sector.”

    – André Lamontagne, Minister of Agriculture, Fisheries and Food and Minister responsible for the Centre-du-Québec Region

    Quick facts

    • Summer 2023 was characterized by abundant and frequent rainfall in the regions of Montérégie, Capitale-Nationale, Laurentides, Montréal-Laval-Lanaudière, Chaudière-Appalaches, Mauricie, Estrie, Centre-du-Québec, Saguenay–Lac-Saint-Jean, Outaouais, Bas-Saint-Laurent, Gaspésie–Îles-de-la-Madeleine and Côte-Nord.

    • Production losses, combined with the extraordinary costs due to the situation, have had an impact on the liquidity and financial capacity of Quebec horticultural companies.

    • The Initiative, which will be administered by the FADQ, stems from the AgriRecovery disaster relief framework under the Sustainable Canadian Agricultural Partnership Multilateral Framework Agreement.

    • AgriRecovery is a federal-provincial/territorial disaster relief framework. It is more precisely designed to help agricultural producers meet the extraordinary costs of recovering from natural disasters. AgriRecovery initiatives are cost-shared by the federal government and the provinces and territories concerned on a 60%-40% basis, as set out by the Sustainable Canadian Agricultural Partnership (Sustainable CAP).

    • In addition to risk management programs, the Initiative completes a series of measures put in place by the FADQ and the Ministère de l’Agriculture, des Pêcheries et de l’Alimentation (MAPAQ) to support horticultural producers following the excess rainfall in 2023, for example:

      • Introduction of the Mesure complémentaire pour certaines productions horticoles affectées lors de la saison de culture 2023 (Complementary assistance measure for certain horticultural crops affected during the 2023 growing season). This measure offers assistance, which is complementary to the Agri-Québec Plus assistance, which allows the company to record at most $200,000 in net profit, depending on the number of shareholders or the equivalent established by the FADQ;
      • $30 million increase in the Working Capital component of the Sustainable Growth Investment Program, for a total of $55 million;
      • Grant of $50,000 in financial assistance to the Association des producteurs maraîchers du Québec to conduct a study explaining the low rate of enrollment in crop insurance;
      • Payment of indemnities in advance at the request of producers;
      • Extension of warehouse loss coverage for some crops;
      • Extensions of sowing deadlines for market garden crops;
    • Cancellation of the account-to-account policy for companies that request it.

    • Financial assistance could reach up to $904 per hectare for vegetable crops and potatoes, and up to $3,613 per hectare for strawberries and raspberries.

    • This announcement is the result of discussions and exchanges between various stakeholders involved.

    • Agricultural associations and the MAPAQ continue their collaboration to adapt the sector to climate change.

    Associated links

    Contacts

    For media:

    Annie Cullinan
    Director of Communications
    Office of the Minister of Agriculture and Agri-Food
    annie.cullinan@agr.gc.ca

    Media Relations
    Agriculture and Agri-Food Canada
    Ottawa, Ontario
    613-773-7972
    1-866-345-7972
    aafc.mediarelations-relationsmedias.aac@agr.gc.ca
    Follow us on Twitter, Facebook, Instagram, and LinkedIn
    Web: Agriculture and Agri-Food Canada

    Makena Mahoney
    Minister’s Office
    Makena.Mahoney@ontario.ca

    Meaghan Evans
    Communications Branch
    OMAFRA.media@ontario.ca
    519-826-3145

    MIL OSI Canada News

  • MIL-OSI Canada: October Oil and Gas Public Offering Generates $7.3 Million in Revenue

    Source: Government of Canada regional news

    Released on October 31, 2024

    The Government of Saskatchewan’s Crown oil and natural gas public offering, held on Tuesday, October 29, 2024, raised $7,304,936.95 for the province, with the Estevan area generating the majority of the revenue.

    Of the 112 parcels posted for this offering, 93 received acceptable bids, covering a total 15,347.639 hectares.

    The Estevan area generated the most financial interest, bringing in $5,417,916.25 for 56 leases and one exploration licence for a total of 8,330.517 hectares.

    The Kindersley area generated $1,325,636.53 for 21 leases for a total of 5,063.604 hectares.

    Surge Energy Inc. made the highest bonus bid and the highest dollars-per-hectare bid in its offering of $1,369,276.03, or $5,284.76 per hectare. This was for a 259.099 hectare lease in the Estevan area, northeast of Macoun. 

    Millennium Land (444) Ltd. won the single exploration licence posted in this offering, bidding $407,670.71 for a 2,318.023 hectare licence in the Estevan area, south of Minton.

    After four public offerings this fiscal year, the provincial government has raised $37,382,523.18 in revenue. The next offering is scheduled for December 3, 2024. 

    There are six scheduled public offerings of oil and natural gas dispositions held each fiscal year in Saskatchewan. This process uses an open and competitive bidding system to issue oil and natural gas dispositions.

    Several factors affect public offering activity, including changes in oil and gas prices, land availability, geological and technological constraints and various market conditions.

    For more information about oil and gas public offerings in Saskatchewan, please visit the Schedule of Public Offerings webpage on saskatchewan.ca. 

    -30-

    For more information, contact:

    MIL OSI Canada News

  • MIL-OSI United Kingdom: New time capsule buried at Derby Market Hall

    Source: City of Derby

    A new time capsule has been sealed within the walls of Derby Market Hall, containing a snapshot of life in Derby in 2024 for future generations to uncover.

    Construction partner Wates and Derby City Council joined together to inter the capsule at a special event on Thursday 31 October. The new capsule now sits alongside two others, dating from 1864 and 1938, that were uncovered during the £35m refurbishment of the historic venue.

    These two previous capsules went on display at the Local Studies Library, where they captured the imagination of visitors who provided their own suggestions of items to include in this latest capsule.

    All key partners involved in the project have provided items including letters from Councillor Nadine Peatfield, Leader of the Council, and Tim Wates, Chairman at Wates.

    Architects Lathams have provided architectural drawings, while Hemingway Design, branding partner for the project, have included a copy of the new visual identity document.

    The capsule itself is a length of pipe provided by Cadent Gas, and Sealed within are a diverse range of items, contributed by businesses across the city, that reflect life in Derby in 2024.

    This includes a 3D printed submarine from Rolls Royce, the latest Food and Drinks guide from Marketing Derby, and a model Toyota Corolla.  A selection of photos showcase Derby’s diverse communities and vibrant events, including 2024’s Derby Pride, the 2023 Lantern Parade and Caribbean Carnival.

    The £35m transformation of the historic Market Hall – which is partly funded with £9.43m from the Government’s Future High Streets Fund – is well underway, providing a new hub for creatives, makers and traders, building on the city’s heritage of innovation and industry.

    Businesses throughout the region are registering their interest in operating from the refurbished Market Hall, which will bring together the best of the region’s independent shopping, eating, drinking and entertainment when it reopens in Spring 2025.

    Councillor Nadine Peatfield, Leader of Derby City Council, said:

    This is an exciting moment in the Market Hall project as we seal a snapshot of 21st Century life for generations to come.

    I’m overwhelmed by the response to this project. We have so many businesses and groups represented in this capsule, giving future generations a real insight into what life was like here in Derby in 2024.

    It’s a strange concept, not knowing when these items will be uncovered. I hope that whenever this capsule is opened, people will get a sense of what life was like in Derby in 2024 and see it as a vibrant, diverse and thriving city.

    All that is for the future, but for now we’ll continue to press on with the refurbishment and I look forward to seeing the Market Hall open again in 2025.

    Tim Wates, Chairman for Wates, said:

    It was an honour to include a piece of Wates in the time capsule. Wates is proud to have managed the regeneration of this Grade II Listed Victorian Market Hall, originally designed by Derbyshire engineer Rowland Mason Ordish, into a vibrant cultural and retail destination. Guided by our commitment to reimagining spaces where people can thrive, we’ve focused on preserving heritage while enhancing accessibility, safety, and wellbeing. We’ve worked diligently to create a space that supports diverse uses, with the goal of revitalising the city’s day and night-time economies. Time will tell if the capsule is recovered, but it is a legacy we are proud to be involved in.

    MIL OSI United Kingdom

  • MIL-OSI USA: ICYMI: Senator Marshall joins Wake Up America: Farmers & Ranchers Trust Donald Trump’s Policies

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall

    Washington D.C. – U.S. Senator Roger Marshall, M.D. joined Wake Up America on Newsmax to discuss how Donald Trump delivers for Farmers & Ranchers in Rural America, how Kamala Harris’ plan to ban price gouging on groceries will lead to shortages, and President Joe Biden calling Trump supporters ‘Garbage.’

    [embedded content]

    You may click HERE or on the image above to watch Senator Marshall’s full interview.
    Highlights from the interview include:
    On Farmers & Ranchers Turning to Donald Trump to Deliver:
    “As agriculture goes, so goes Rural America. Under Joe Biden and Kamala Harris, what we saw was an attack on American agriculture. We saw a record drop in net farm income… they drowned us, they buried us in regulations, they drove up the cost for farming through energy costs… contrast that to President Trump – what President Trump gave us was access to markets. He rolled back regulations. We had record income increases as well.”
    “Guess how many trade agreements Joe Biden and Kamala Harris did? None. President Trump gave us USMCA, he gave us South Korea, he gave us Japan… You think about those purple states up there in the central and the northwest. You think about Ohio, you think about Michigan, you think about Pennsylvania, all strong dairy country. Because of President Trump’s trade agreements, we have increases from $6 billion to $9 billion in exports of dairy… And again, Joe Biden, Kamala Harris, no emphasis on trade. Didn’t even try to do a trade agreement.”
    “President Trump gave us E15, about 40% of our corn crop goes towards ethanol, so President Trump, a great supporter for that Rural America.”
    On Foreign Agriculture: 
    “Food security is national security, and to your point, we’re importing more than we’re exporting when it comes to agriculture… So the Biden-Harris administration allows Europe and China to have high tariffs, on average, 10% to 25% tariffs on American agriculture products…  versus we only put 2.5% tariffs on them.”
    “Tariffs can be a weapon to use to level that playing field, to bring us about free, fair, and reciprocal trade. And that’s what President Trump has done in the past; he’ll do in the future – he’ll bring it home for American farmers.”
    On Kamala Harris’ Ban on Price Gouging 
    “There will be shortages. Think about beef, think about poultry, eggs, milk, all those things will lead to shortages… What caused the prices to go up are her policies – her policies that attack American energy. Energy is an inflation multiplier.”
    “They’re borrowing money, and borrowing more money has led to high interest rates, so that’s what’s driving up the cost at the grocery stores. Look, most of these grocery stores operate at a 1% or 2% profit margin. There’s significant competition. So, what will happen is American farmers and ranchers will stop growing wheat. They’ll stop growing up beef if we can’t get a fair price board as well.”
    On President Joe Biden Calling Trump Supporters ‘Garbage’: 
    “I think when the history books are written here, in five or 10 years, there’s going to be two iconic photos – one of President Trump working at a McDonald’s and two President Trump driving a garbage truck. When the Biden-Harris administration came out and called us garbage that was akin to Hillary Clinton’s deplorables moment… When President Trump walked in there to McDonald’s, he just proved that he cares about the working men and women across America, that we are the party of hard working Americans.”
    “Americans that were sitting on the sidelines and said, my gosh, this White House is once again insulting you and me, hard working Americans across the country. They’re condescending – take them at their word, they’re attacking our values.”
    “When I think of rural America, I think of the values we are raised on- faith and family and country, and how coastal elites are dictating to us what our values should be. Look, we want none of that in Kansas. We want to determine what our values are.”

    MIL OSI USA News

  • MIL-OSI United Kingdom: Warm welcome for energy efficiency improvements to back-to-back homes

    Source: City of Leeds

    Dozens of back-to-back terraced homes are set to receive energy efficiency upgrades as Leeds City Council continues its efforts to deliver the best possible housing standards for all local communities.

    The improvements will be made to as many as 100 back-to-backs in the Cedars area of Armley during a £4.4m scheme that is due to get under way in January.

    Planned measures include new insulation for external walls and attic rooms as well as the installation of replacement doors and windows where required.

    The work is designed to make the homes easier and more affordable to heat, which should in turn lead to a reduction in fuel poverty and cold-related illness. A detailed technical study will also be carried out to assess the suitability of the area for the possible future use of carbon-cutting ground source heat pumps.

    The scheme is being part-funded by the council, with the West Yorkshire Combined Authority, central government and energy suppliers among those providing additional support. Energy and regeneration specialist Equans will act as delivery partner.

    The Cedars was chosen as the location for the work due to its comparatively high levels of deprivation, with an above-average proportion of residents living in fuel poverty. Many of the back-to-back houses in the area are more than 100 years old.

    Under current plans, just over half of the homes to be improved will be from the council’s housing stock. The remainder will be privately owned, with up to 25 per cent of the cost of changes to these properties being met by landlords or owner-occupiers.

    The inclusion of a range of tenures will, it is hoped, allow the scheme to have a positive visual impact on whole streets and ‘clusters’ of housing rather than dispersed individual homes.

    Scheduled for completion by the end of 2025, the programme follows similar improvements to around 300 properties in Holbeck.

    Hundreds of flats in tower blocks in Little London and Seacroft have also recently benefited from energy efficiency upgrades.

    These projects, and others like them, underline the council’s commitment to addressing social and health inequalities and the part they play in causing illness and lower life expectancy.

    They also show how the council is working with partners to tackle climate change as it seeks to make Leeds the first net zero city in the UK.

    Councillor Jess Lennox, Leeds City Council’s executive member for housing, said:

    “As a council, we are determined to ensure that everyone in Leeds has a home that gives them the right foundation for leading a happy and healthy life.

    “Schemes like the one which will soon be starting in the Cedars can move us another step towards achieving that hugely important goal.

    “The work will make homes easier and cheaper to heat, a vital consideration at a time when many households are experiencing fuel poverty.

    “There will also be environmental benefits, with improved energy efficiency for properties meaning a reduction in carbon emissions.

    “We’re grateful to our partners for supporting a scheme that will have a really positive impact on this community.”

    Tracy Brabin, Mayor of West Yorkshire, said:

    “Our region is home to some of the oldest houses in the country, including our famous back-to-back terraces in Leeds.

    “In this cost of living crisis, it’s vital that we invest now to upgrade these homes for the long term, saving some households hundreds of pounds a year off their energy bills.

    “By working with Leeds City Council and providing free support through our Home Energy West Yorkshire initiative, we’ll build a greener, more secure region with warmer homes and brighter communities for all.”

    The provision of good quality housing is a key objective of Leeds’s ongoing Marmot programme, which aims to reduce health inequalities using an approach developed by leading epidemiologist Professor Sir Michael Marmot.

    Launched in June last year, the programme is being spearheaded by the council alongside University College London’s Institute of Health Equity.

    ENDS

    MIL OSI United Kingdom

  • MIL-OSI: IOTA Software Inc. Announces $10.4 Million Series A2 Funding Led by Altira Group

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Oct. 31, 2024 (GLOBE NEWSWIRE) — IOTA Software Inc., a leading developer of industrial and business data visualization software, announced today that it has secured $10.4 million in Series A2 funding led by the Altira Group with participation from Oxy Technology Ventures and existing investors, including Aramco Ventures and Second Avenue Partners. J.P. Bauman, Partner at Altira Group, will join IOTA’s Board of Directors.

    IOTA’s visualization software is an enterprise-scale, cloud-native platform that provides easy and immediate access to all sources of critical and dynamic business and process information. IOTA empowers executives, production managers, and operators with a visual and unified environment, supporting them with the insights essential for performance optimization and data-driven decision-making.

    This new investment will be used to expand IOTA’s engineering, product, and customer success teams and enhance its technology infrastructure and marketing efforts. This will enable IOTA to further develop its innovative technology, expand its global reach, and continue its rapid growth trajectory. With this latest funding, IOTA is well-positioned to solidify its status in data visualization as the premier situational awareness platform supporting digital transformation throughout the process industries.

    “We are thrilled to secure this funding, which enables us to accelerate our growth and technology development,” said Ivan Datskov, CEO of IOTA Software. “Our platform already helps businesses across a wide range of industries make more informed decisions, and we are excited about the opportunity to positively impact even more organizations.”

    “IOTA Software gives industrial enterprise customers the ability to easily bring together typically siloed critical business and operations data in control rooms and remote operating centers in a single pane of glass to improve asset performance,” commented J.P. Bauman. “On behalf of our seven industry-leading oil & gas company partners, Altira is excited to lead this effort in supporting IOTA as they continue to drive customer success.”

    “We are proud to be both partners and customers of IOTA Software,” said Trey Lowe, Chief Technology Officer at Devon Energy. “Their new software, VUE, is revolutionizing the way we view and interact with our production data. The intuitive interface and analytics capabilities will enhance decision-making across each of our operating areas.”

    About Altira Group

    Altira Group, a Denver-based venture capital firm, has funded advanced technology solutions across the energy and industrial value-chain for the past 27 years. Working with its Fund VII oil & gas industry limited partners, Altira enables the next generation of technologies, driving innovation across digital, industrial automation, and core oil & gas operations, including subsurface, development, production, and refining. Beyond capital, Altira’s unique approach offers entrepreneurs customer access, validation, and collaboration through their strategic partnerships with leading oil & gas companies, and experienced, hands-on investor partners skilled in business building. This unique Altira advantage means more direct customer interaction, compressed adoption cycles, and stronger investment outcomes. For further information, please visit www.altiragroup.com.

    About IOTA Software Inc.

    IOTA Software is a leading provider of data visualization that connects people, assets, and manufacturing processes. The company’s scalable platform offers easy access to critical process data, insights for performance optimization, and supports data-driven decision-making. Serving as a central hub to drive both daily and long-term outcomes, the IOTA platform delivers situational awareness capabilities that appeal to a wide range of users across the pharmaceutical, energy, chemical, utility, green energy, and other industries. For more information, visit iotasoft.com.

    Media Contact:
    T.J. Rulapaugh
    Vice President, Product Design
    trulapaugh@iotasoft.com
    (650) 862-5393

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff04b14b-2c37-48dc-8f6a-8d04649584bb

    The MIL Network

  • MIL-OSI: Q3 & 9 MONTHS 2024 RESULTS

    Source: GlobeNewswire (MIL-OSI)

    Paris (France), October 31st, 2024, 17h45 CET

    Q3 & 9 MONTHS 2024 RESULTS

    DELIVERING ON CASH GENERATION AND FINANCIAL ROADMAP

    ON TRACK TO HIT OUR FULL YEAR TARGET

      Q3 9M1
    Revenue2 $246m $778m (-3%)
    Adjusted EBITDA2 $98m $298m (+7%)
    Net Cash-Flow $10m $34m (vs -$15m in 9M 2023)

    Sophie Zurquiyah, Chief Executive Officer of Viridien, said:

    “Our results since the start of the year demonstrate the strength of our strategic vision, with technology leadership, new business growth, and cash flow all showing significant progress.

    Geoscience was particularly strong this quarter, leveraging its clear differentiation, best-in class imaging technology and HPC computing power to achieve a record high order book. In Earth Data, the Laconia project, using our most advanced technology, saw increased prefunding and is continuing to progress well.

    Sensing & Monitoring is actively implementing its adaption plan and is on track to achieve in 2025 the expected outcomes in cost reduction and operational flexibility to improve performance across the industry cycles.

    Lastly, we continue to address our financial roadmap with the implementation of the bond buyback program and looking forward, reaffirm our full-year targets”.

    Third Quarter Highlights2

    • Group2
      • IFRS Revenue, EBITDA and Net Income of respectively $219 million, $71 million, $(10) million.
      • Overall group revenue decline in absence of mega crew in Sensing & Monitoring (SMO, revenue down 50%) compared to Q3 2023. Stable DDE revenue, with very strong momentum at Geoscience (revenue + 32% and order intake +91%).
      • Group adjusted EBITDA of $98M, including -$12M penalty fees from vessel commitment. DDE Adjusted EBITDA of $108 million, up 5% thanks to strong Geoscience performance. SMO adjusted EBITDA of $1M (vs $12M).  
    • Net Cash flow of $10 million, including -$18 million contractual fees from vessel commitment.
    • Implementation of the bond buy back program. $25M already bought on the $30M 2024 program as of October 31 (o.w. $12M bought and cancelled as of September 30).
    • Liquidity at $442 million (including $100 million undrawn RCF).
    • Digital, Data and Energy Transition (DDE)
      • Revenue $187 million, up 1%: strong revenue growth at Geoscience offset by lower level of aftersale at Earth Data.
      • Adjusted EBITDA $108 million, up 5%: profitability impacted by -$12 million in penalty fees from vessel commitments (vs -$20 million during Q3 2003).
      • Geoscience
        • Revenue at $103 million (+32%).
        • Geoscience performance continues to be driven by technology leadership. Order intake (up 91%) benefits from best in class imaging technology, new UK HPC hub and increased activity in the Middle East.
        • The new businesses confirm positive momentum, both in CCUS with the release of the latest phase of Gulf of Mexico Carbon Storage Study to support upcoming lease rounds and in Minerals & Mining with the award of a sensing program in Oman, to identify, map and rank mineralization prospectivity potential.
      • Earth Data
        • Revenue: $83 million (-22%).
        • Prefunding revenue at $58 million (+4%). First contribution of the Laconia project in the Gulf of Mexico. Weaker after-sales in Q3 (down 50% at $26 million) with unfavorable cut offs.
        • New businesses: revenue from the Norwegian survey for Carbon storage leading to the reprocessing of legacy data in the area.
    • Sensing and Monitoring (SMO)
      • Revenue at $59 million, down 51% across land and marine products, following delivery of the “mega crew” systems in 2023.
      • Adjusted EBITDA at $1 million (vs $12M).
      • Transformation plan on track to achieve the expected cost reduction and operational flexibility.
      • New businesses representing 17% of revenue. Delivery of land seismic nodes for large-scale seismic surveys planned in urban areas to target energy resources, including geothermal.
    • 2024 Financial objectives
      • The Group reiterates its 2024 financial objectives and confirms its 2024-2025 financial roadmap.
        • Revenue expected to be in line with 2023
        • EBITDA to be positively impacted by business mix
        • Earth Data cash Capex expected at $230-250M
        • Net Cash Flow to reach similar level as 2023
    • Q3 2024 Conference call
      • The press release and the presentation are available on our website www.viridiengroup.com at 5:45 pm (CET)
      • An English language analysts conference call is scheduled today at 6.00 pm (CET)

    Participants should register for the call here to receive a dial-in number and code or participate in the live webcast from here.

    A replay of the conference call will be made available the day after for a period of 12 months in audio format on the Company’s website.

    The Board of Directors met on October 31, 2024 and approved the consolidated financial statements ending September 30, 2024.

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN until July 30: FR0013181864 and ISIN as from July 31: FR001400PVN6).

    Contact:

     VP Corporate Finance

    Jean-Baptiste Roussille
    jean-baptiste.roussille@viridiengroup.com

    Q3 2024 – Financial Results

     CONSOLIDATED FINANCIAL STATEMENTS – September 30th, 2024

    Unaudited Interim Consolidated statement of operations – Year-To-Date

        Nine months ended September 30,
    (In millions of US$, except per share data) Notes 2024 2023
    Operating revenues   784.8 810.4
    Other income from ordinary activities   0.1 0.2
    Total income from ordinary activities   784.9 810.6
    Cost of operations   (587.1) (578.0)
    Gross profit   197.8 232.6
    Research and development expenses – net   (15.2) (20.5)
    Marketing and selling expenses   (28.6) (26.6)
    General and administrative expenses   (55.9) (54.2)
    Other revenues (expenses) – net 8 (3.6) (0.9)
    Operating income (loss)   94.6 130.4
    Cost of financial debt – gross   (82.3) (79.5)
    Income provided by cash and cash equivalents   8.7 4.0
    Cost of financial debt, net   (73.6) (75.5)
    Other financial income (loss) 9 (0.9) (1.6)
    Income (loss) before incomes taxes and share of income (loss) from companies accounted for under the equity method   20.1 53.3
    Income taxes   (14.2) (24.6)
    Net income (loss) before share of income (loss) from companies accounted for under the equity method   6.0 28.7
    Net income (loss) from companies accounted for under the equity method   0.9 0.5
    Net income (loss) from continuing operations   6.9 29.2
    Net income (loss) from discontinued operations 3 14.7 2.3
    Consolidated net income (loss)   21.6 31.5
    Attributable to :      
    Owners of Viridien S.A $ 21.2 28.0
    Non-controlling interests $ 0.4 3.5
    Net income (loss) per share      
    Basic $ 2.97 0.04
    Diluted $ 2.95 0.04
    Net income (loss) from continuing operations per share      
    Basic $ 0.91 0.04
    Diluted $ 0.91 0.04
    Net income (loss) from discontinued operations per share (a)      
    Basic $ 2.06
    Diluted $ 2.05

    (a)   Earning per share is presented as nil being less than US$0.01 at September 30,2023.

    See the notes to the Unaudited Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statement of comprehensive income (loss) – Year-To-Date

        Nine months ended September 30,
    (In millions of US$) Notes 2024 (a) 2023 (a)
    Net income (loss) from statements of operations   21.6 31.5
    Net gain (loss) on cash flow hedges   0.2 0.2
    Variation in translation adjustments   3.3 10.5
    Net other comprehensive income (loss) to be reclassified in profit (loss) in subsequent period (1)   3.5 10.7
    Net gain (loss) on actuarial changes on pension plan   0.4 (0.7)
    Net other comprehensive income (loss) not to be reclassified in profit (loss) in subsequent period (2)   0.4 (0.7)
    Total other comprehensive income (loss) for the period. net of taxes (1) + (2)   3.9 10.0
    Total comprehensive income (loss) for the period   25.5 41.5
    Attributable to:    
    Owners of Viridien S.A.   24.7 39.2
    Non-controlling interests   0.8 2.3

    (a)  Including other comprehensive income related to the discontinued operations.

    Unaudited Interim Consolidated statement of financial position

    (In millions of US$) Notes September 30,
    2023
    December 31, 2023
    ASSETS      
    Cash and cash equivalents   341.7 327.0
    Trade accounts and notes receivable, net   287.3 310.9
    Inventories and work-in-progress, net   207.1 212.9
    Income tax assets   37.0 30.8
    Other current assets, net   67.4 92.1
    Total current assets   940.5 973.7
    Deferred tax assets   35.5 29.9
    Other non-current assets, net   7.8 6.8
    Investments and other financial assets, net   25.3 22.7
    Investments in companies under the equity method   2.6 2.2
    Property, plant and equipment, net 4 230.7 206.1
    Intangible assets, net   611.5 579.7
    Goodwill, net   1 098.1 1 095.5
    Total non-current assets   2 011.4 1 942.9
    TOTAL ASSETS   2 951.9 2 916.6
    LIABILITIES AND EQUITY      
    Financial debt – current portion 5 79.8 58.0
    Trade accounts and notes payables   94.1 86.4
    Accrued payroll costs   87.9 89.1
    Income taxes payable   21.2 12.5
    Advance billings to customers   19.1 24.0
    Provisions — current portion   8.1 8.7
    Other current financial liabilities   5.9 21.3
    Other current liabilities   233.6 250.3
    Total current liabilities   549.8 550.3
    Deferred tax liabilities   22.1 24.3
    Provisions — non-current portion   32.8 30.1
    Financial debt – non-current portion 5 1 265.1 1 242.8
    Other non-current financial liabilities   0.5
    Other non-current liabilities   1.7 4.3
    Total non-current liabilities   1 321.7 1 302.0
    Common stock: 11,212,215 shares authorized and 7,161,465 shares with a €1.00 nominal value outstanding at September 30, 2024   8.7 8.7
    Additional paid-in capital   118.7 118.7
    Retained earnings   1 004.0 980.4
    Other Reserves   19.8 27.3
    Treasury shares   (20.1) (20.1)
    Cumulative income and expense recognized directly in equity   (1.2) (1.4)
    Cumulative translation adjustment   (87.9) (90.8)
    Equity attributable to owners of Viridien S.A.   1 042.0 1 022.8
    Non-controlling interests   38.5 41.5
    Total equity   1 080.5 1 064.3
    TOTAL LIABILITIES AND EQUITY   2 951.9 2 916.6

    See the notes to the Unaudited Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statement of cash flows

        Nine months ended September 30,
    (In millions of US$) Notes 2024 2023
    OPERATING ACTIVITIES      
    Consolidated net income (loss)   21.6 31.5
    Less: Net income (loss) from discontinued operations 3 (14.7) (2.3)
    Net income (loss) from continuing operations   6.9 29.2
    Depreciation, amortization and impairment   71.8 63.3
    Earth Data surveys impairment and amortization   144.0 99.8
    Depreciation and amortization capitalized in Earth Data surveys   (11.6) (11.8)
    Variance on provisions   0.2 0.5
    Share-based compensation expenses   2.2 1.7
    Net (gain) loss on disposal of fixed and financial assets   0.1 0.1
    Share of (income) loss in companies recognized under equity method   (0.9) (0.5)
    Other non-cash items   (2.5) 1.8
    Net cash-flow including net cost of financial debt and income tax   210.2 184.1
    Less : Cost of financial debt   73.6 75.5
    Less : Income tax expense (gain)   14.2 24.6
    Net cash-flow excluding net cost of financial debt and income tax   297.9 284.2
    Income tax paid   (10.0) (3.8)
    Net cash-flow before changes in working capital   287.9 280.4
    Changes in working capital   10.0 (23.5)
    – change in trade accounts and notes receivable   (2.3) (29.4)
    – change in inventories and work-in-progress   7.0 17.4
    – change in other current assets   14.9 6.6
    – change in trade accounts and notes payable   10.6 (0.4)
    – change in other current liabilities   (20.2) (17.7)
    Net cash-flow from operating activities   297.8 256.9
    INVESTING ACTIVITIES      
    Total capital expenditures (tangible and intangible assets) net of variation of fixed assets suppliers, excluding Earth Data surveys) 4 (24.3) (48.3)
    Investment in Earth Data surveys   (180.1) (141.7)
    Proceeds from disposals of tangible and intangible assets   1.1
    Dividends received from investments in companies under the equity method   0.5
    Total net proceeds from financial assets   (1.9)
    Variation in other non-current financial assets   (2.1) (2.9)
    Net cash-flow used in investing activities   (205.0) (194.8)
        Nine months ended September 30
    (In millions of US$) Notes 2024 2023
    FINANCING ACTIVITIES      
    Repayment of long-term debt 5 (12.2) (1.5)
    Total issuance of long-term debt 5 0.1 23.0
    Lease repayments 5 (43.4) (37.9)
    Financial expenses paid 5 (42.2) (46.5)
    Dividends paid and share capital reimbursements:    
    — to owners of Viridien   0.0
    — to non-controlling interests of integrated companies   (3.8) (0.8)
    Net cash-flow provided by (used in) financing activities   (101.6) (63.7)
    Effects of exchange rates on cash   1.1 (4.3)
    Net cash flows incurred by discontinued operations 3 22.4 (17.0)
    Net increase (decrease) in cash and cash equivalents   14.7 (22.9)
    Cash and cash equivalents at beginning of year   327.0 298.0
    Cash and cash equivalents at end of period   341.7 275.1

    See the notes to the Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statements of changes in equity

    Amounts in millions of
    US$. except share data
    Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumulative translation adjustment Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2023 7 123 573 8.7 118.6 967.9 50.0 (20.1) (3.4) (102.4) 1 019.3 39.5 1 058.8
    Net gain (loss) on actuarial changes on pension plan (1)       (0.7)         (0.7)   (0.7)
    Net gain (loss) on cash flow hedges (2)             0.2   0.2   0.2
    Net gain (loss) on translation adjustments (3)               11.7 11.7 (1.2) 10.5
    Other comprehensive income (1)+(2)+(3) (0.7) 0.2 11.7 11.2 (1.2) 10.0
    Net income (loss) (4)       28.0         28.0 3.5 31.5
    Comprehensive income (1)+(2)+(3)+(4) 27.3 0.2 11.7 39.2 2.3 41.5
    Exercise of warrants 238   0.1           0.1   0.1
    Dividends                 (0.9) (0.9)
    Cost of share-based payment 12 951     1.7         1.7   1.7
    Variation in translation adjustments generated by the parent company         (10.7)       (10.7)   (10.7)
    Balance at September 30, 2023 7 136 763(a) 8.7 118.7 996.9 39.3 (20.1) (3.2) (90.7) 1 049.6 40.9 1 090.5
    Amounts in millions of
    US$. except share data
    Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumulative translation adjustment Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2024 7 136 763 8.7 118.7 980.4 27.3 (20.1) (1.4) (90.8) 1 022.8 41.5 1 064.3
    Net gain (loss) on actuarial changes on pension plan (1)       0.4         0.4   0.4
    Net gain (loss) on cash flow hedges (2)             0.2   0.2   0.2
    Net gain (loss) on translation adjustments (3)               2.9 2.9 0.4 3.3
    Other comprehensive income (1)+(2)+(3) 0.4 0.2 2.9 3.5 0.4 3.9
    Net income (loss) (4)       21.2         21.2 0.4 21.6
    Comprehensive income (1)+(2)+(3)+(4) 21.6 0.2 2.9 24.7 0,8 25.5
    Dividends                 (3.8) (3.8)
    Cost of share-based payment 24 703     2.0         2.0   2.0
    Variation in translation adjustments generated by the parent company         (7.5)       (7.5)   (7.5)
    Balance at September 30, 2024 7 161 465(b) 8.7 118.7 1 004.0 19.8 (20.1) (1.2) (87.9) 1 042.0 38.5 1 080.5

    (a)   Pro forma following Reverse Share Split

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


    1All variations refer to the same period last year
    2Unless otherwise stated, all figures and comments are referring to “Segment” (i.e. pre-IFRS 15), as defined in the 2023 Universal Registration Document’s glossary, under section 8.7

    Attachment

    The MIL Network

  • MIL-OSI USA: Rep. Susan Wild Announces Over $200 Million for Pennsylvania to Help Households with Home Energy Costs

    Source: United States House of Representatives – Representative Susan Wild (PA-07)

    Today, Congresswoman Susan Wild announced that Pennsylvania has been awarded $207,342,959 in funding for the Low Income Home Energy Assistance Program (LIHEAP). This investment will help individuals and families with low incomes pay home heating costs this winter, as well as prevent energy shutoffs, weatherize homes to increase energy efficiency, and make minor energy-related home repairs.

    “LIHEAP is a critical part of protecting the health and safety of families across Pennsylvania while assisting them with their energy costs,” said Congresswoman Susan Wild. “I was proud to once again secure this funding for our community, and support families throughout the Greater Lehigh Valley so that they can stay warm and healthy this winter.”

    Pennsylvania was awarded a total of  $207,342,959:

    • $197,147,761 from the regular LIHEAP block grant funding.

    • $10,185,882 in Bipartisan Infrastructure Law funding for Fiscal Year 2025.

    This funding is administered through the Administration for Children and Families’ Office of Community Services at the U.S. Department of Health and Human Services.

    By helping reduce the costs of home heating, reconnecting energy services that have been disconnected, preventing energy shutoffs, and providing minor energy-related home repairs, LIHEAP helps make sure that families can meet their energy needs and stay safe in their homes — because maintaining safe indoor air temperatures is critical, particularly for households with older adults, children, and individuals with disabilities.

    Visit energyhelp.us to learn more about how to apply for LIHEAP and identify if you are eligible for assistance using the  LIHEAP Eligibility Tool  or call the hotline at 1-866-674-6327.

    ###

    MIL OSI USA News

  • MIL-OSI USA: Rep. Cuellar Celebrates Groundbreaking of New Gateway Barbara Fasken Healthcare Clinic in Laredo

    Source: United States House of Representatives – Congressman Henry Cuellar (TX-28)

    LAREDO, TX – Today, Congressman Henry Cuellar, Ph.D. (TX-28) celebrated the groundbreaking of the new Gateway Barbara Fasken Healthcare Clinic in Laredo, TX. 

    “Gateway clinics are the backbone of Laredo’s health system. I secured $1,997,000 in federal funding in FY23 for the new Barbara Fasken Healthcare Clinic in Laredo,” said Dr. Cuellar, a Senior Member of the House Appropriations Committee. “I will continue to help expand Gateway’s reach through federal funding and provide Laredo residents with the quality health care they need to live healthy, fulfilling lives. Thank you to Gateway CEO Elmo Lopez Jr, Gateway Board Chairman Lauro A. Garcia, Laredo Mayor Victor Trevino, Council Member Vanessa Perez, and Fasken Oil and Ranch General Manager Lynda James for being here today and for their work in supporting the health of Laredo residents.” 

    The new clinic will provide essential healthcare services including primary care and behavioral care for both adults and children. The clinic also plans to expand to provide dental care.  

    The clinic will expand Gateway’s reach and enhance their services, ensuring that everyone in the Laredo community, especially those who have historically been underserved, can access comprehensive, quality healthcare. This will be the second Gateway clinic west of Interstate 35 in Laredo that the Congressman has supported with federal funding. 

    Since 2021, Congressman Cuellar has secured more than $35.8 million in federal funding for Gateway clinics, a testament to his commitment to bringing healthcare to those who need it most.  

    The Congressman remains committed to securing federal funding to promote a healthier, more successful South Texas. 

    MIL OSI USA News

  • MIL-OSI USA: Reed Announces $24 Million in LIHEAP Aid to Help RIers Lower Home Energy Bills

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WASHINGTON, DC – In an effort to help some of the nation’s most vulnerable households pay their home energy bills, the Biden-Harris Administration today released $3.71 billion for the Low-Income Home Energy Assistance Program (LIHEAP), including $24,063,792 for Rhode Island.  Even as the U.S. has become the largest oil producer in the world, colder winters in the Northeast mean the demand for LIHEAP is high.  The federally funded program is a crucial lifeline that helps low-income households and seniors on fixed incomes afford their energy bills, including those who use natural gas, propane, electricity, and home heating oil. 
    U.S. Senator Jack Reed, a leading member of the Senate Appropriations Committee and a Congressional champion for LIHEAP, cheered the release of funds and says it will allow states to provide funds to support income eligible households with utility costs.
    Earlier this month, Reed joined Senators Susan Collins (R-ME), Lisa Murkowski (R-AK) in leading a bipartisan call for the U.S. Department of Health and Human Services (HHS) to release LIHEAP funds as swiftly and at the highest level possible.
    “This federal funding will help keep vulnerable Rhode Islanders safe and healthy through targeted initiatives that lower utility bills.  It will ease the energy cost burden for low-income residents, who pay a higher proportion of household income to heat their homes when cold winter weather hits.  Nobody should have to choose between affording needed medication or having their heat turned off.  LIHEAP is a real lifeline that has proven to make a real positive difference for so many Rhode Islanders,” said Senator Reed, who helped provide a total of $4.1 billion for LIHEAP in fiscal year 2024, with $4 billion through appropriations and $100 million in Bipartisan Infrastructure Law funds. 
    Under the short-term “continuing resolution” funding package that President Biden signed into law in September, HHS is able to advance states’ funding equal to 90 percent of their FY24 allocation.
    Rhode Islanders wishing to apply for LIHEAP may go to the Rhode Island Department of Human Services website to get more information and links to an online application.  Or, Rhode Islanders may contact their local Community Action Agency.  Eligibility for LIHEAP is based on several factors, including income, household size, and the availability of resources.
    Nationwide, an estimated 5.1 million households received assistance with heating and cooling costs through LIHEAP in the last fiscal year.
    Older Americans on fixed incomes and those receiving Social Security Disability or SSI benefits are encouraged to apply as early as possible, but applications will be open to everyone through spring of 2025 — or until the funding is exhausted.

    MIL OSI USA News

  • MIL-OSI USA: Hickenlooper, Bennet, Neguse, Pettersen, Polis Announce $129 Million for Colorado Rail Projects 

    US Senate News:

    Source: United States Senator John Hickenlooper – Colorado
    Four Colorado projects awarded funding under the Consolidated Rail Infrastructure & Safety Improvements (CRISI) Grant Program
    WASHINGTON – Today, U.S. Senators John Hickenlooper and Michael Bennet, U.S. Representatives Joe Neguse and Brittany Pettersen and Governor Jared Polis announced four Colorado rail projects will receive a total of $129.5 million in federal funds. The Colorado Department of Transportation (CDOT), Colorado State University Pueblo, San Luis Central Railroad Co., and OmniTRAX will all receive funding as part of the Consolidated Rail Infrastructure & Safety Improvements (CRISI) Grant Program. Earlier this year Hickenlooper, Bennet, Neguse and Pettersen urged the U.S. Department of Transportation to fund CDOT’s project along the Front Range. Hickenlooper also urged the department to fund the CSU Pueblo and OmniTRAX projects.
    “From freight in the San Luis Valley to passengers on the Front Range and beyond with CSU Pueblo’s research, rail isn’t just a part of our past, it’s a big part of our future, too,” said Hickenlooper. “That’s the case we made to Secretary Buttigieg for this funding and this is just the start.”
    “Colorado’s railways are vital to connect our communities and get resources to markets across the country. That’s why I ensured the U.S. Department of Transportation understood how critical this funding is for our state’s transportation infrastructure,” said Senator Michael Bennet. “I’m glad to have helped secure these investments in our railways’ safety, efficiency, and reliability across the state. ”
    “After years of working to secure federal support for the Front Range Passenger Rail Project, I am excited to see the Department of Transportation heed our calls and commit to modernizing Colorado’s passenger rail system—not just for communities along the Front Range but for residents throughout the entire state. This is a once-in-a-generation investment in our passenger rail infrastructure, creating countless new opportunities for communities to connect, grow, and thrive—and we will continue to work together to ensure this momentum leads to lasting benefits for all Coloradans,” said U.S. House Assistant Minority Leader Joe Neguse.
    “Today, I am incredibly grateful to see this federal funding coming to Colorado to strengthen our railway systems, enhance safety, and modernize our infrastructure,” said Representative Brittany Pettersen. “After a train derailment in Boulder injured workers and put our communities at risk, I supported funding to reinforce public safety and restore trust in Colorado’s rail infrastructure. I’m pleased to see these federal dollars coming to our state to help ensure we have safe, reliable infrastructure for generations to come.”
    “Today’s grant will make freight rail traffic in some of our busiest growing communities safer quickly while providing critical building blocks for Passenger Rail.  This major funding will help achieve important priorities like complying with longstanding federal standards and improving the safety of rail crossings, which can be the sites of dangerous incidents. With more than $66 million in federal support from the Biden-Harris administration, the future of Colorado’s rail network is a clear priority for the federal government, as it should be. We thank Senators Hickenlooper and Bennet, Congressman Neguse and Congresswoman Pettersen, and our communities for their support of this important project,” said Governor Jared Polis.
    “Thanks to a unified effort with Governor Polis’ leadership, Colorado can speed ahead with important safety and operational upgrades that will make passenger rail possible along the Front Range. Our partners in the Congressional delegation and in communities across the state have been constantly supportive of this work, and I want to especially thank the technical team at CDOT that has made so much progress behind the scenes to get Colorado ready for this opportunity. The Biden Administration has recognized Colorado’s seriousness and the quality of our work to develop passenger rail, and I want to add my appreciation to their support with this grant and the resources it brings to our work,” said CDOT Executive Director Shoshana Lew.
    CRISI invests in railroad infrastructure projects that improve safety, support economic vitality, including through small businesses, create good-paying jobs with the free and fair choice to join a union, increase capacity and supply chain resilience, apply innovative technology, and explicitly address climate change, gender equity, and racial equity. For more information on CRISI, click HERE.
    Full details on the projects receiving funding are below:
    Recipient
    Project Title
    Project Description
    Amount Awarded
    Colorado Department of Transportation
    Modernizing Rail on the Front Range: PTC Installation, Siding, & Grade Crossing Safety and Operational Improvements
    This project will design, install, and test positive train control with a complementary siding on a portion of the Front Range Subdivision, along with several railroad crossings that could benefit from operational and safety improvements.
    $66,400,000
    OmniTRAX Holdings Combined, Inc.
    Transportation Investments for Employment and Safety, Phase 2
    The proposed project involves final design and construction activities to replace railroad ties on four OmniTRAX-owned short lines across four states – Alabama, Colorado, Georgia, and Washington.
    $50,570,400
    Colorado State University Pueblo
    Safety Assessment, Testing and Workforce Development for Hydrogen/Natural Gas Motive Power
    The proposed project involves research and development for studying green hydrogen and renewable natural gas-powered rail vehicles. The project aims to conduct safety experiments on the use of CH2/CNG-powered rail cars at the TTC facility.
    $11,671,781
    The San Luis Central Railroad Co.
    The San Luis Central Railroad Reconstruction Project: Ansel North
    The SLC corridor was built in 1913 with untreated wooden ties. The project will replace 6,000 deteriorated cross and 126 switch ties between mile posts 10.1 and 15.2.
    $1,077,000
    “Southern Colorado often represents a hard-working spirit leveraging the opportunity of innovation. This Department of Transportation CRISI grant emboldens that spirit, enabling CSU Pueblo, in partnership with the Southern Colorado Transportation Technology Center (SCITT), to contribute to the future of rail transportation through critical safety research in hydrogen and natural gas technologies. I am particularly proud of how this project will partner with our Engineering program at CSU Pueblo, utilizing the expertise here to create new pathways for our students and local workforce. This grant is more than research – it’s a valuable investment into Southern Colorado,” said CSU Pueblo President Armando Valdez.
    “TIES2 will be transformative for the communities served by Great Western Railway of Colorado and the regions served by OmniTRAX railroads in Georgia, Alabama, and Washington state,” said David Arganbright, OmniTRAX Senior Vice President. “OmniTRAX is proud to call Colorado home, and we are tremendously appreciative of all the work that Sen. Hickenlooper has done in Congress to champion Colorado’s railways and deliver the critical infrastructure investments that make strengthen our nation’s supply chains.”
    “The team at CXSL is very excited for this great news and look forward to getting to work on the improvements as soon as possible. The grant will assist in providing the much needed improvements to improve rail service to our customers and greatly reduce our risk for incidents due to track conditions,” said Timothy Bivens, General Manager of Colorado Pacific San Luis Railroad.
     

    MIL OSI USA News

  • MIL-OSI: Power Factors Named Energy Management System Leader by Guidehouse Insights

    Source: GlobeNewswire (MIL-OSI)

    San Francisco, Oct. 31, 2024 (GLOBE NEWSWIRE) — Power Factors, the leading renewable energy management suite (REMS) provider, has been recognized as one of the top three energy management system (EMS) vendors in the utility-scale energy storage industry by Guidehouse Insights in its latest Guidehouse Insights Leaderboard: Energy Storage Software report. The report identifies Power Factors as the only vendor-agnostic EMS provider among the market leaders, standing out for its extensive global reach and expansive product portfolio of hardware and open software solutions.

    Guidehouse Insights’ recognition highlights Power Factors’ ability to deliver sophisticated, vendor-agnostic EMS software solutions that go beyond what vertical system integrators typically offer. Power Factors is “succeeding within a highly competitive and constantly evolving market,” said Michael Kelly, associate director with Guidehouse Insights. Kelly also noted that “the combination of enhanced control platforms and complementary analytics enables asset owners to achieve greater bankability, reliability, and performance from their front-of-the-meter storage assets.”  

    The report emphasized how Power Factors’ acquisition-led approach has contributed to its success, noting that Inaccess, which it acquired in 2022, “has historically been an industry leader and contributes to Power Factor’s broadening portfolio and value proposition.” Power Factors also was acknowledged for its expansive geographic reach, which includes more than 300 GW of wind, solar, and battery storage assets across 70 countries, with 15 GW of contracted and installed energy storage capacity across multiple sites.

    “We’re proud to be recognized as the only vendor-agnostic leader in energy management systems,” said Julieann Esper Rainville, CEO at Power Factors. “Our interoperable EMS applications help renewable asset owners and system integrators reduce costs, streamline operations, and future-proof their investments, while our commitment to flexibility ensures seamless integration with existing systems and hardware.”

    “Vendor-agnostic, interoperable EMSs featuring standardized interfaces and low-cost integrations are key features of future-proofed solutions,” according to the report. Power Factors’ ability to integrate with diverse hardware systems makes it a top choice for organizations looking to reduce the complexities and costs associated with third-party integrations.

    While vertical system integrators represent rising competition, currently “third-party EMS providers can offer more sophisticated software solutions than system integrators.” Power Factors exemplifies this approach with its integrated, vendor-agnostic Unity renewable energy management suite (REMS), which brings together trusted hardware and software solutions for monitoring  and control, asset performance, operations and maintenance (O&M), and commercial asset management into a unified platform.

    As investment in utility-scale solar and storage continues to grow, Power Factors remains dedicated to delivering robust, future-proofed energy management software that streamlines renewable energy deployment and operations globally. Guidehouse Insights’ recognition of Power Factors as a top EMS provider further cements Power Factors’ leadership in driving the energy transition forward. With its Unity suite, Power Factors empowers renewable energy stakeholders to maximize performance, reduce costs, and simplify integration across a diverse range of systems.

    Learn more about how Power Factors supports BESS and hybrid plants: https://www.powerfactors.com/energy-storage-software-contact-us.

    About Power Factors  
    Power Factors is a software and solutions provider leading the next generation of clean energy with Unity, one of the most extensive and widely deployed renewable energy management suites (REMS) in the market. With over 300 GW of wind, solar, and energy storage assets managed worldwide across more than 600 customers and 18,000 sites, Power Factors manages 25% of the world’s renewable energy data.*

    Power Factors’ Unity REMS supports the entire energy value chain, from monitoring and controls to analytics. The company’s suite of open, data-driven applications empowers renewable energy stakeholders to collaborate, automate critical workflows, and make more informed decisions to maximize asset returns. Energy stakeholders receive end-to-end support, including solutions for SCADA & PPC, centralized monitoring, performance management, commercial asset management, and field service management.

    With deep domain expertise, AI-powered insights are delivered at scale so businesses can optimize assets, unlock growth, and make smarter decisions as the world rapidly transitions to clean energy. Power Factors fights climate change with code.

    Learn more at powerfactors.com.

    * Outside China and India 

    The MIL Network

  • MIL-OSI Canada: Government of Canada to provide an update on the Canadian Dental Care Plan

    Source: Government of Canada News

    The Minister of Citizens’ Services, the Honorable Terry Beech, will provide an update in Vancouver on the Canadian Dental Care Plan and its impact on Canadians.

    The Minister of Citizens’ Services, the Honourable Terry Beech, will provide an update in Vancouver on the Canadian Dental Care Plan and its impact on Canadians.

    Minister Beech will be accompanied by the Member of Parliament for Vancouver Centre, the Honourable Hedy Fry, and the Member of Parliament for Steveston–Richmond East, Parm Bains.

    A photo opportunity and media availability will follow the announcement.

    Please note that all details are subject to change. All times are local.

    Date :     Friday, November 1, 2024

    Time:     11:00 a.m. PDT

    Place :    Vancouver Community College
                    Downtown campus
                    Dental Clinic, Room 340
                    250 West Pender Street
                    Vancouver, British Columbia

    To register, contact media@hrsdc-rhdcc.gc.ca with your name and media outlet before 10:00 a.m. PDT on Friday, November 1, 2024.

    Teodor Gaspar
    Acting Director of Communications
    Office of the Minister of Citizens’ Services
    teodor.gaspar@hrsdc-rhdcc.gc.ca

    Matthew Kronberg
    Press Secretary
    Office of the Honourable Mark Holland
    Minister of Health
    matthew.kronberg@hc-sc.gc.ca

    MIL OSI Canada News

  • MIL-OSI Security: Update 257 – IAEA Director General Statement on Situation in Ukraine

    Source: International Atomic Energy Agency – IAEA

    At Ukraine’s Zaporizhzhya Nuclear Power Plant (ZNPP), repairs are being conducted in one of its six reactors after a small water leakage was detected from an impulse line – essentially a small pipe – connected to the unit’s primary circuit, with the work expected to be completed later this week, Director General Rafael Mariano Grossi of the International Atomic Energy Agency (IAEA) said today.

    The IAEA expert team stationed at the ZNPP visited unit 1 on Tuesday after being informed that one of the impulse lines, part of the reactor coolant pump support systems, was leaking and required repair. For this work, the pressure in the primary circuit had to be decreased to atmospheric level.  The team was informed today that welding work had been completed and that radiography checks of the welds were on-going.

    “The Agency will continue to follow this issue closely, although we don’t see any immediate issue for nuclear safety. In general, we have identified regular equipment maintenance – which is vital to ensure sustainable nuclear safety and security – as a challenging area for the Zaporizhzhya Nuclear Power Plant during the conflict,” Director General Grossi said.

    Like the ZNPP’s five other reactors, unit 1 has been in cold shutdown, generating no electricity for the grid, prior to this week’s change in status to shutdown for maintenance. It is expected that unit 1 will be put back to cold shutdown after the repair of the impulse line is completed and tested.

    The IAEA team has also carried out other walkdowns during the past week as part of their continuous work to assess – and report on – nuclear safety and security at the ZNPP, where the general situation remains precarious on the frontline of the conflict.

    Earlier this week, for example, the team visited the main control rooms of all six units to examine key plant parameters as well as the staffing situation. The IAEA staff have also visited some of the emergency diesel generators (EDG) of units 2 and 5 to verify the readiness of equipment and check the diesel fuel levels.

    As virtually every week, the team has continued to hear explosions daily, although no damage to the plant was reported.

    Elsewhere in Ukraine, an IAEA team last week completed its visits to seven electrical substations, as part of the Agency’s work to assess the status of the electrical grid infrastructure essential to nuclear safety that began in September.

    During the visits, which were requested by Ukraine, the team reviewed how damage caused by military activities earlier this year had impacted the substations’ deliveries of off-site power to the country’s operating nuclear power plants (NPPs), an area highlighted in the Seven Indispensable Pillars of nuclear safety and security outlined by Director General Grossi in March 2022.

    The IAEA teams present at the Khmelnytskyy, Rivne and South Ukraine NPPs and the Chornobyl site reported that nuclear safety and security is being maintained despite the effects of the ongoing conflict, including air raid alarms for several days over the past week.

    On Monday, the team at the Khmelnytskyy NPP had to shelter at their hotel for several hours after hearing drones which triggered an air raid alarm. The IAEA was subsequently informed by the Ukrainian regulator that 12 drones had been flying near the site during the morning, the closest 400 metres away. The regulator also said drones had been reported near the South Ukraine site on three occasions over the past week.

    “Frequent reports of drones flying near nuclear power plants continue to be a source of deep concern for nuclear safety and security. As we have stated repeatedly, any military activity in the vicinity of nuclear power plants represents a potential risk,” Director General Grossi said.

    The IAEA is continuing to implement its comprehensive programme of assistance in support of nuclear safety and security in Ukraine, including by delivering requested equipment.

    Over the past two weeks, the South Ukraine NPP received radiation and contamination monitoring devices, while State Enterprise USIE Izotop – involved in the management of radioactive material intended for medical, industrial and other purposes – received personal protective equipment. These items were procured with funds from Japan, Switzerland and the United Kingdom. So far, a total of 73 deliveries of equipment and other supplies have been completed by the IAEA.

    Last week, remote training on human performance and management observation and coaching was completed for 109 staff at the Chornobyl, Rivne and South Ukraine sites. The training aimed to equip staff and management with skills on how to prevent or reduce the risk of human errors with potential implications for nuclear safety.

    MIL Security OSI

  • MIL-OSI Asia-Pac: Ministry of Steel organizes day-long Chintan Shivir in New Delhi

    Source: Government of India

    Ministry of Steel organizes day-long Chintan Shivir in New Delhi

    Chintan Shivir will help us to chart the path towards growth and development of the Indian Steel sector in a big way: Secretary, Ministry of Steel

    Posted On: 31 OCT 2024 5:37PM by PIB Delhi

    Ministry of Steel conducted a Chintan Shivir at the Vigyan Bhawan, New Delhi .

    Secretary, Ministry of Steel, Shri Poundrik said in his opening remarks said that the emerging competitive global and domestic scenario makes it obligatory for Steel CPSEs to challenge the conventional way of working and explore to adopt fresh strategies in the conduct of the operations and business of their steel plants and mines. He urged to do away with the conservative approaches that limit the potential returns / outcomes, which need to be changed for enhanced benefits.

    Secretary, Steel also stressed that Steel CPSEs should adopt fresh strategies for project management by cutting down the time from conception to finalisation of the contract and subsequent execution for timely completion of the projects.  Presentations on new Initiatives and Energy Saving measures in Blast Furnace were well appreciated during the Chintan Shivir. 

    During deliberations, importance of overseas presence of Steel CPSEs was outlined. It was felt that AI/ML can be used in diverse field to ensure process optimization, not only in productions, but also in the field of managing & evaluating assets, Safety, Quality predictions of raw materials, data analysis, health Sector,  environmental impacts, and HR Management, etc.  

    Panelist from Steel CPSEs made their presentationson topics Tech Up-gradation, AI, Machine Learning(ML); Faster Project Execution both Pre-award of contract and action execution post award;  International asset Acquisition; New Initiatives and Energy saving measures in Blast Furnace Area towards making Green Steel during the Chintan Shivir.

    Concluding the deliberations, Secretary Steel hoped that this program shall help us to chart the path towards growth and development of the Indian Steel sector in a big way. He also appreciated the suggestions received for the future conferences.

    Additional Secretary & FA, Chairman, SAIL, CMDs, Functional Directors of Steel CPSEs, Joint Secretaries / Economic Adviser / DDG and other senior officers of the Ministry alongwith 120 odd participants across Steel CPSEs, participated in the day-long events on the Chintan Shivir. 

    ****

    MG

    (Release ID: 2069867) Visitor Counter : 65

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Alexander Novak held a meeting on the formation of a general plan for the placement of electric power facilities until 2042

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Alexander Novak held a meeting on the formation of a general plan for the placement of electric power facilities until 2042

    Deputy Prime Minister of the Russian Federation Alexander Novak held a meeting on the formation of the General Scheme for the placement of electric power facilities until 2042. The event was attended by heads and representatives of the Ministry of Energy, the Ministry of Economic Development, energy companies, industry and business associations.

    The parties discussed the parameters for the functioning of the Russian energy system until 2042, taking into account the projected increase in energy consumption due to the accelerated growth of the economy.

    In order to reliably meet the needs of citizens and industry for electricity, it is planned to introduce new modern generation by 2042. This concerns facilities of both traditional and renewable and nuclear energy.

    In addition, the modernization of generating equipment will continue. There is also the task of further increasing the installed capacity, taking into account the need to balance consumption peaks, ensure the reliability of the energy system and export obligations.

    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