NewzIntel.com

Category: Energy

  • MIL-OSI: Cipher Mining Announces the Signing of Option Agreements to Acquire 1.5 GW of Data Center Sites in West and North Texas

    Source: GlobeNewswire (MIL-OSI)

    Three sites featuring targeted capacity of 500MW each

    Signed option to lease or purchase a total of 580 acres of land, with two sites located in North Texas and one site located in West Texas

    Suitable for both HPC and bitcoin mining data centers

    NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced it has signed option agreements to acquire the recently announced three sites in West and North Texas from Juvo Energy.

    The three sites are adjacent to transmission assets and in the final stages of approval for interconnection with 500 MW targeted capacity per site. Cipher will be able to exercise the option in the next 24 months to acquire the sites, including 580 acres of land to be either leased or purchased. The ultimate purchase price to exercise the options for the sites will be determined by the number of megawatts actually approved for interconnection. The three sites all have the necessary characteristics for development of HPC data centers or bitcoin mining operations.

    “We have seen increasing demand from hyperscalers for large sites that can be energized within the next three years. By getting involved earlier in the development timeline and process, we can source valuable sites that most of our competitors cannot, spend less for premium sites and improve long-term visibility for our supply chain management and construction functions. These new sites give us tremendous optionality on the expansion of our HPC hosting business,” said Tyler Page, Cipher’s CEO.

    With the addition of these new sites, Cipher’s active portfolio and development pipeline will total 2.5 GW across 10 sites.

    About Cipher

    Cipher is an emerging technology company focused on the development and operation of bitcoin mining data centers. Cipher is dedicated to expanding and strengthening the Bitcoin network’s critical infrastructure. Together with its diversely talented team and strategic partnerships, Cipher aims to be a market leader in bitcoin mining growth and innovation. To learn more about Cipher, please visit https://www.ciphermining.com/.

    About Juvo

    Juvo Energy is a power infrastructure company focused on development of “powered land” sites across the country. Juvo has a growing, active portfolio of over 6 GW. To learn more about Juvo, please visit: https://www.juvo-energy.com

    Forward Looking Statements

    This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations regarding our future results of operations and financial position, business strategy, timing and likelihood of success, potential expansion of and additional bitcoin mining data centers, expectations regarding the operations of mining centers, and management plans and objectives, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and our management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 5, 2024, and in Cipher’s subsequent filings with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contacts:
    Investor Contact:
    Josh Kane
    Head of Investor Relations at Cipher Mining
    josh.kane@ciphermining.com

    Media Contact:
    Ryan Dicovitsky / Kendal Till
    Dukas Linden Public Relations
    CipherMining@DLPR.com

    The MIL Network –

  • MIL-OSI United Kingdom: Electric blanket testing sessions15 October 2024 Jersey Fire and Rescue Service (JFRS) will once again be supporting Jersey Electricity’s (JE) annual electric blanket safety testing on Thursday 17th October and Friday 18th October 2024. ​No need to book,… Read more

    Source: Channel Islands – Jersey

    15 October 2024

    Jersey Fire and Rescue Service (JFRS) will once again be supporting Jersey Electricity’s (JE) annual electric blanket safety testing on Thursday 17th October and Friday 18th October 2024.

    ​No need to book, simply take your electric blanket along on:

    • Thursday 17th October to Western Fire Station, between 10am and 3pm

    Or,

    • Friday 18th October 2023 to Fire Headquarters, Rouge Bouillon, between 10am and 3pm.

    The free safety test will be completed by Jersey Electricity’s electrical engineers.

    If it can’t be tested on the spot while you wait, they will tell you what time you can collect it if it passes the test.

    If your blanket fails the safety test, Jersey Electricity will keep and dispose of it. You will receive a Powerhouse 10% discount voucher, which can be redeemed against the purchase of a new one.

    JFRS recommend that all electric blankets over 10 years old should be replaced. For this reason, JE staff will not test any blankets over 10 years old but will provide a Powerhouse 10% discount voucher in return for your old electric blanket.

    A Community Fire Safety Officer will also be on hand throughout the testing to offer advice on fire safety in the home.

    Here are some simple tips to stay safe when using electric blankets:

    • Regular Inspections: Examine your electric blanket for any signs of wear, fraying, or damage before use.
    • Follow Manufacturer Instructions: Adhere to the manufacturer’s instructions regarding usage, washing, and storage of electric blankets.
    • Avoid Overheating: Never leave an electric blanket turned on for an extended period, and switch it off before getting into bed.
    • No Pets or Heavy Objects: Keep pets and heavy objects off the electric blanket to prevent damage.
    • Replace Old Blankets: If your electric blanket is more than ten years old or shows signs of wear, consider replacing it with a newer model.

    ​

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Advancements in robotics continue to transform oil and gas operations, says GlobalData

    Source: GlobalData

    Advancements in robotics continue to transform oil and gas operations, says GlobalData

    Posted in Oil & Gas

    With the applications of robotics continuously evolving, the oil and gas industry has emerged as a significant adopter of the technology to improve safety and efficiency of operations. Robots equipped with advanced technologies are yielding increasingly positive results, bringing a continued transformation in the operations of oil and gas companies, says GlobalData, a leading data and analytics company,

    GlobalData’s thematic report, “Robotics in Oil and Gas,” provides an overview of robotics technology and its applications in the oil and gas industry. It also highlights the role of major oil and gas companies, such as ADNOC, BP, Eni, Equinor, ExxonMobil, Repsol, Rosneft, Shell, and TotalEnergies in the development and adoption of robotics to enhance safety and productivity on the field.

    Ravindra Puranik, Oil and Gas Analyst at GlobalData, comments: “Robots are proving invaluable to execute complex tasks at production facilities, thereby protecting workers from hazardous environments and reducing the likelihood of costly shutdowns. As a result, companies such as Equinor, TotalEnergies, and Shell are deploying them to work alongside humans on offshore sites. For instance, robotic automation can manage remote operations, such as those conducted on Equinor’s Oseberg H platform in the North Sea. Their ability to perform repetitive and mundane tasks with minimal errors is saving time and internal resources for companies. Furthermore, it allows them to deploy field technicians on more critical issues.”

    Oil and gas operations are labor-intensive and involve numerous repetitive tasks, many of which occur in hazardous environments and face various obstacles. Robotics presents an excellent solution to many challenges within the industry, as they can handle more strenuous tasks and complex procedures more effectively than humans.

    Puranik continues: “Robots provide greater reliability and efficiency in completing assigned tasks while also enhancing operational safety. The integration of terrestrial, aerial, and underwater robots is already playing a crucial role in several high-stakes oil and gas projects throughout the value chain. French oil major TotalEnergies, in collaboration with Oceaneering, recently conducted a pilot inspection of subsea pipelines in the North Sea using autonomous underwater vehicles (AUVs).”

    Robots can access hard-to-reach areas, carry out tasks beyond human capabilities, and operate continuously without needing breaks. Hence, they are being utilized as effective solutions for conducting inspections in difficult or hazardous environments, thereby avoiding preventing human exposure to such sites. Recently, cleaning of storage tanks is emerging as another prominent use case for robotics with companies, such as Saudi Aramco, Woodside, SK Innovation, and Indian Oil Corp, exploring the potential of robotic crawlers in this application.

    Puranik concludes: “Advancements in technology have equipped robots to effectively replace field personnel on oil rigs. Additionally, there is an increase in collaboration between oil and gas companies and technology vendors, enabling the diversification of robotic use cases with the integration of AI, IoT, cloud, and edge computing. These developments are anticipated to drive future growth in robotics within the oil and gas sector, reducing risks to human workers who operate alongside heavy machinery in often remote and challenging environments.”

    MIL OSI Economics –

  • MIL-OSI Canada: Canada Carbon Rebate rural top-up, 2024 and 2025

    Source: Government of Canada News

    Backgrounder

    Ensuring carbon pollution pricing helps make life more affordable

    A price on pollution is widely recognized as the most efficient means to reduce the greenhouse gas emissions that are contributing to the more intense wildfires, droughts, and floods caused by climate change. Canada’s approach to pollution pricing is also designed to put money back into people’s pockets.

    Putting a price on pollution is a cornerstone of Canada’s plan, which is working to tackle climate change.

    Quarterly Canada Carbon Rebate for individuals—increased rural top-up

    The climate crisis is affecting all of Canada, but especially rural and small communities. They frequently face environmental, social, economic, cultural, and health impacts from climate change that are more intense than those in urban areas. Despite these challenges, these communities show remarkable resilience and often lead the way in adaptation efforts across Canada.

    Canadians living in rural and small communities are on the front lines of climate change, witnessing firsthand the devastating impacts of intensified wildfires, droughts, and floods. A price on pollution is found to be one of the most efficient ways that Canada is reducing greenhouse gas emissions, which contribute significantly to the frequency and severity of these impacts caused by climate change. The Canada Carbon Rebate both puts money back into people’s pockets and also stimulates investment in clean alternatives.

    In provinces where the federal fuel charge applies, most households get back more than they pay through the Canada Carbon Rebate for individuals, as a result of the federal carbon pollution pricing system, with lower- and middle-income households benefitting the most.

    To further recognize rural Canadians’ higher energy needs, particularly for home-heating and transportation, the Government of Canada has doubled the rural top-up available for households in rural areas and smaller communities from 10 percent to 20 percent of their Canada Carbon Rebate base amount, as of April 2024.

    This October, eligible Canadians will receive the enhanced rural top-up for the first time. The increase will be retroactive to April 1, 2024, so those households can expect an increased top-up amount for October 2024 with a one-time boost due to the increased top-up amounts for April and July.

    The top-up will apply to residents of provinces where the federal fuel charge applies, that is, Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland and Labrador, New Brunswick, and Nova Scotia whose primary residence is outside a Census Metropolitan Area, as defined by Statistics Canada. All rebate recipients in Prince Edward Island are eligible for the rural top-up, and it is included in their base amount. Determine if you qualify for the rural top-up.

    The table below shows the amount a family of four can expect to receive each quarter in 2024–2025. As all proceeds are returned in the province they were collected in, the rebate amount varies between provinces. It is higher in provinces with more consumption of fossil fuels.

    Table 1

    Quarterly Canada Carbon Rebate amounts for families of four for 2024 and 2025
    Province Family of four Rural
    Alberta $450.00 $540.00
    Manitoba $300.00 $360.00
    Ontario $280.00 $336.00
    Saskatchewan $376.00 $451.20
    New Brunswick $190.00 $228.00
    Nova Scotia $206.00 $247.20
    Prince Edward Island* $220.00 $220.00
    Newfoundland and Labrador $298.00 $357.60

    *As all residents of Prince Edward Island are eligible for the 20 percent rural top-up, it is reflected in the base amount for that province.

    Table 2

    Annual Canada Carbon Rebate amounts for families of four for 2024 and 2025
    Province Family of four Rural
    Alberta $1,800.00 $2,160.00
    Manitoba $1,200.00 $1,440.00
    Ontario $1,120.00 $1,344.00
    Saskatchewan $1,504.00 $1,804.80
    New Brunswick $760.00 $912.00
    Nova Scotia $824.00 $988.80
    Prince Edward Island* $880.00 $880.00
    Newfoundland and Labrador $1,192.00 $1,430.40

    *As all residents of Prince Edward Island are eligible for the 20 percent rural top-up, it is reflected in the base amount for that province.

    Canada Carbon Rebate for Small Businesses

    Canada’s small- and medium-sized businesses are the backbone of the Canadian economy and the heart of our communities. Across the country, they keep main streets flourishing, create good jobs, and deliver on the dream of entrepreneurship. Through the new Canada Carbon Rebate for Small Businesses, the Government of Canada is delivering on its commitment to return proceeds from the price on pollution directly to small- and medium-sized businesses with employees in the provinces where the federal fuel charge applies.

    This accelerated and automated return process will deliver over $2.5 billion directly to an estimated 600,000 small- and medium-sized businesses with employees in provinces where the pollution pricing system applies through a refundable tax credit. By receiving direct payments from the Canada Revenue Agency, separate from tax refunds, this simple process for returning fuel charge proceeds will help eligible small- and medium-sized businesses to focus on what matters most—driving their businesses forward.

    The Canada Revenue Agency plans to issue the rebate to eligible Canadian-controlled private corporations (CCPCs) that filed their 2023 tax return no later than July 15, 2024, by the end of the calendar year. Most businesses should receive their payment by:

    • December 16, 2024, if registered for direct deposit
    • December 31, 2024, if receiving payment by cheque

    On October 1, 2024, the Government of Canada specified payment rates, on a per employee basis, for the 2019–2020 to 2023–2024 fuel charge years, and the designated provinces in which these payment rates will apply.

    Table 3

    Specified payment rates per employee for the Canada Carbon Rebate for Small Businesses, 2019 and 2020 to 2023 and 2024
    – 2019 to 2020 2020 to 2021 2021 to 2022 2022 to 2023 2023 to 2024
    Alberta* n/a $147 $123 $140 $181
    Saskatchewan $110 $271 $244 $298 $233
    Manitoba $48 $99 $77 $89 $168
    Ontario $26 $68 $75 $86 $146
    New Brunswick* n/a n/a n/a n/a $87
    Nova Scotia* n/a n/a n/a n/a $119
    Prince Edward Island* n/a n/a n/a n/a $82
    Newfoundland and Labrador* n/a n/a n/a n/a $179

    *As the federal fuel charge only came into effect as of January 1, 2020, in Alberta, and as of July 1, 2023, in New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador, small businesses in these provinces will receive payments for proceeds collected as of those respective dates.

    Table 4

    Example payment amounts for businesses, by number of employees, 2019 to 2023
    – 10 employees 25 employees 50 employees 100 employees 499 employees
    Alberta* $5,910 $14,775 $29,550 $59,100 $294,909
    Saskatchewan $11,560 $28,900 $57,800 $115,600 $576,844
    Manitoba $4,810 $12,025 $24,050 $48,100 $240,019
    Ontario $4,010 $10,025 $20,050 $40,100 $200,099
    New Brunswick* $870 $2,175 $4,350 $8,700 $43,413
    Nova Scotia* $1,190 $2,975 $5,950 $11,900 $59,381
    Prince Edward Island* $820 $2,050 $4,100 $8,200 $40,918
    Newfoundland and Labrador* $1,790 $4,475 $8,950 $17,900 $89,321

    *As the federal fuel charge only came into effect as of January 1, 2020, in Alberta, and as of July 1, 2023, in New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador, small businesses in these provinces will receive payments for proceeds assessed after those respective dates.

    Additionally, to allow more businesses to receive a payment, it is also being proposed that corporations that file their tax return for 2023 after July 15, 2024, and on or before December 31, 2024, would be eligible for a payment. Legislation enacting these changes requires Royal Assent before payments can be issued to businesses filing after the initial July 15 deadline.

    More information on the Canada Carbon Rebate for Small Businesses payment amounts from 2019 and 2020 to 2023 and 2024 has been published by Finance Canada.

    Pollution pricing relief for farmers and fishers

    Farmers are on the frontlines of climate change, facing ever-increasing risks of floods, droughts, and storms to their operations. Canada’s approach to pollution pricing offers targeted support to farmers, who are also investing to deploy cost-saving and job-creating clean technology solutions. Farmers generally do not pay the fuel charge for gasoline and light fuel oil (diesel) used in eligible farming machinery on farms. Additionally, biological emissions are not priced under this federal system, totalling roughly 97 percent of on-farm emissions.

    Greenhouse operators also receive upfront relief of 80 percent of the fuel charge on propane and marketable natural gas used to heat an eligible greenhouse or to supplement carbon dioxide in eligible greenhouses to grow or produce plants.

    Additionally, farm businesses that operate in provinces where the federal fuel charge is in place can generally receive a refundable tax credit, the purpose of which is to return fuel charge proceeds related to farm use of natural gas and propane in heating and drying activities in those provinces to help farmers transition to lower-carbon ways of farming.

    Canada’s Greenhouse Gas Offset Credit System also provides an economic incentive for farmers to undertake innovative greenhouse gas reduction and removal projects.

    As part of the strengthened climate plan and the 2030 Emissions Reduction Plan, the Government of Canada committed over $1.5 billion to accelerate the agricultural sector’s progress on reducing emissions while remaining a global leader in sustainable agriculture. This includes $470.7 million for the Agricultural Clean Technology (ACT) Program to create an enabling environment for developing and adopting clean technology. This will help drive the changes required to achieve a low-carbon economy and promote sustainable growth in Canada’s agriculture and agri-food sector.

    Fishers are also provided with relief from paying the federal fuel charge on gasoline and light fuel oil (diesel) used in fishing vessels for eligible fishing activities.

    Industrial pollution pricing system

    Industrial pollution pricing systems are designed to ensure there is a price incentive for industrial emitters to reduce their greenhouse gas emissions and spur innovation while remaining competitive. Not only does pollution pricing ensure big polluters pay their fair share, it is also helping Canada attract new major projects that are creating good paying jobs.

    Canada’s approach to pollution pricing gives major heavy industries certainty on the price they pay for the pollution they generate, helping to bring forward investments in job-creating cleaner alternatives to meet their business needs. This helps them make informed decisions and is also designed to protect against the risk of industrial facilities moving to another region to avoid paying a price on carbon pollution.

    All proceeds generated from the federal industrial pollution pricing system in backstop jurisdictions are returned in the jurisdiction of origin to support industrial projects in cutting emissions and using new, cleaner technologies and processes.

    The Output-Based Pricing System (OBPS) Proceeds Fund returns proceeds collected under the federal OBPS and is comprised of two streams: the Decarbonization Incentive Program and the Future Electricity Fund. Further information on projects being funded by federal industrial pollution pricing proceeds has been published on the Open Government Portal.

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Speech: PM International Investment Summit Speech: 14 October 2024

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    Prime Minister Keir Starmer delivered a speech at the International Investment Summit 2024.

    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    And thanks to all you for being here…

    It’s fantastic to stand here and look out and see so many of you here…

    And I’m really grateful that you have made the effort, and you are here. It means a huge amount to me and my government…

    And welcome to this Government’s first International Investment summit.

    And some of you I know have come a very long way to be here…

    You have flown in from a great distance, some of you will be going straight back out again afterwards.

    You have made a huge effort to share with us the precious gift of your time…

    And we are really, really grateful for that.

    And welcome to the Guild Hall…

    London’s ancient Town Hall…

    Isn’t it a fantastic building, it’s really breathtaking this Guild Hall.

    Not of course to be confused with the nearby Guildhall school of music…

    Where I once pursued a fleeting ambition to play the flute professionally. I kid you not…

    Complete with then long hair and very, very flared jeans. 

    All photographic evidence has been destroyed.

    But today we are pursuing a different ambition…

    A shared ambition…

    Growth.

    You have to grow your business.

    And I have to grow my country.

    I’ll leave it to you to decide if you think voters or shareholders are the more forgiving audience…

    But without growth – let’s just agree it’s a difficult conversation…

    And that therefore, growth is a cause that binds us together.

    The shared endeavour of prosperity.

    It’s why we’ve made it the number one test of this government…

    I am determined to do everything in my power to galvanise growth…

    Determined for this country to be the highest growing economy in the G7…

    That is our most important national mission.

    Because it’s the only way to deliver the mandate for change that we won.

    Growth is higher wages.

    Growth is more vibrant high streets.

    Growth is public services back on their feet.

    It’s less poverty, more opportunity, more meals out, more holidays, more precious moments with your family, more cash in your pocket.

    And of course, for any business…

    It means a bigger market.

    Higher demand…

    A more secure and prosperous future…

    Your effort and enterprise – rewarded in profit.

    But it’s much more important, even than all that. 

    We live in an age when political fires rage across the world.

    Conflict. Insecurity. A populist mood that rails against the open values so many of us hold dear.

    Values which, as you know…

    Are so crucial for making business easy to do.

    And yet – at the same time…

    Look around the world…

    Look at the investments you and others are making.

    This is an age of great possibility, as well. 

    Huge revolutions in digital technology, clean energy, medicine, life sciences…

    Each – with the potential to fundamentally change the way we live and the way that we work…

    Each – with the possibility to transform the lives of working people for the better.

    And so, in times like this…

    Economic growth is vital – as it always has been…

    If we are to steer our way through a great period of insecurity and change…

    And on to calmer waters. 

    Because when working people benefit from that growth…

    When every community enjoys the fruits of wealth creation…

    It stops a country turning in on itself and against the world.

    And that in turn, helps provides a stable foundation…

    Breathing space… 

    For a country to take advantage of those opportunities for a better future.

    To put it more simply…

    It’s not just that stability leads to growth – though we all recognise that. 

    It’s also that growth leads to stability…

    Growth leads to country that is better equipped to come together…

    And get its future back.

    That’s why it’s always been so critical to my political project.

    The key ingredient of that ‘Great Moderation’ we became accustomed to before the financial crash…

    But which together, in partnership…

    We now have to earn again. 

    Every one of you here today…

    Has been invited for that reason.

    It’s not just that you lead some of the most important businesses in the world.

    It’s also because you are pivotal to this great cause of our times. 

    And the reason we are focusing so much on investment…

    Is because the mission of growth, in this country in particular…

    Demands it.

    Private sector investment is the way we rebuild our country…

    And pay our way in the world.

    And make no mistake – this is a great moment to back Britain…

    This is great moment to back England, Scotland, Northern Ireland and Wales. 

    We have an amazing education system that produces some of the best talent in the world.

    The largest tech sector in Europe.

    Leading positions in some of those great industries of the future…

    Artificial Intelligence, Life Sciences, Clean energy, the creative industries.

    We’re a country where businesses thrive – small and large alike…

    With clear regulatory frameworks and protections…

    A legal system that sets high standards around the globe…

    A location which means we can speak to our colleagues in the Americas or Asia in the same day…

    A high ranking in the Global Innovation index, every year…

    Our wonderful global language…

    Our world-renowned sport and culture… 

    This great modern city…

    And all around us…

    A heritage steeped in commerce and trade…

    A set of shared values – centuries-long…

    For being a country that is open for business.

    You can’t put a price on any of this.

    Now we have our problems – of course we do.

    As I’ve said – our public services need urgent care… 

    And our public finances need the tough love of prudence…

    Challenges we cannot ignore. 

    Because, we know – just as every leader here knows…

    That those early weeks and months are precious.

    And, no matter how many people advise you to ignore it…

    That you must run towards the fire to put it out…

    Not let it spread further.

    So we will fix our public services…

    We will stabilise our economy… 

    And we will do it quickly.

    Because we don’t want any of those problems associated with our inheritance…

    Misting up the shop window of Britain…

    Distracting you – from all those assets I just listed.

    Assets that may feel more intangible…

    But are more valuable…

    More enduring…

    Deeper in the bones of this nation.

    And which are ready to be unlocked…

    If we take firm and decisive action on policy – which we can and we will…

    To give you total confidence that this is the moment to back Britain.  

    So let me quickly run through four crucial areas in our pitch for Britain.

    I know – it’s a kind of CEO heresy to have a list of four not three…

    So I apologise!

    But please indulge me.

    First – stability.

    We have a golden opportunity to use our mandate…

    To end the culture of chop and change…

    The policy churn…

    The sticking plaster politics…

    That makes it so hard for investors to assess the value of any proposition.

    Now, you may think – well every government says that…

    But the stability that comes with a large majority in our system…

    That is a unique advantage.

    And we have the determination…

    The focus on clear long-term ends…

    A mission-led mindset that thinks in years…

    Not the days or hours of the news grid…

    Needed to unlock that potential. 

    And don’t doubt that.

    Second – strategy.

    We are building a more strategic architecture for growth. 

    A way for investors to have a much steadier hand on the tiller.

    That’s why we’ve announced a new National Wealth Fund…

    And switched on Great British Energy…

    Which will accelerate investment in clean power and future technologies.

    Like Carbon Capture and Storage, for example…

    Which we just backed – alongside BP, Equinor and Eni

    And which shows the hard-headed approach we will bring to industrial policy.

    A partnership – sharing the risk with the private sector…

    Ambitious – absolutely. 

    But also unsentimental.

    Guided by the market…

    Focused, at all times…

    On the real potential for comparative advantage in this country.

    You know – this is the point I would always make about our Modern Industrial Strategy. 

    In this country, there has been a long rather arcane political debate about “picking winners”.

    Well, we’re not in the business of individual picking winners.

    But we are in the business of building on our strengths.

    Mowing the grass on the pitch…

    Making sure the changing rooms are clean and comfortable…

    That the training ground is good.

    So that when our businesses compete…

    They are match fit…

    That, to put it simply…

    We give the businesses of this country the best conditions to succeed.

    I don’t know why that’s sometimes controversial in this country…

    Industrial policy seems fairly commonplace elsewhere around the world.

    But it is fundamental to the way we see our job on growth…

    And our relationship with a room like this.

    Third – Britain’s global standing.

    We’re determined to improve it.

    Determined – to repair…

    Britain’s brand as an open, outward-looking, confident, trading nation.

    Look – I see this as a diplomatic necessity…

    And I think it’s clear how much priority I have given it in the first 100 days of government.

    All around the world…

    Whether it’s countries, or investors…

    People want to know that Britain can be a stable, trusted, rule-abiding partner.

    As we always have been…

    But that somehow, during the whole circus that followed Brexit… 

    The last Government made a few people less sure about. 

    Needlessly insulting our closest allies…

    And of course a few choice Anglo-Saxon phrases for business. 

    Well – no more.

    We have turned the page on that – decisively…

    And we will use that reset for growth. 

    Finally fourth – regulation

    Now, I don’t see regulation as good or bad.

    That seems simplistic to me.

    Some regulation is life-saving…

    We have seen that in recent weeks here, with the report on the tragedy of Grenfell Tower.

    But across our public sector…

    I would say the previous Government hid behind regulators.

    Deferred decisions to them because it was either too weak or indecisive…

    Or simply not committed enough to growth. 

    Planning is a very real example of that…

    Or – for our friends from across the pond…

    ‘Permitting’ is a really clear example of that… 

    The global language…

    But anyway – the key test for me on regulation…

    Is of course – growth. 

    Is this going to make our economy more dynamic?

    Is this going to inhibit or unlock investment?

    Is it something that enables the builders not the blockers?

    Now – I know some people may be wondering about our labour market policies introduced last week.

    Let me be clear – they are pro-growth.

    Workers with more security at work…

    With higher wages…

    That is a better growth model for this country.

    It will lead to more dynamism in our labour market.

    And seriously – we have to think differently about this…

    A nation’s position in the world is changing all the time…

    As must its growth model. 

    So while I know this is a room full of businesses who take investing in their human capital seriously…

    When I look at the British economy as a whole…

    It does seem as if sometimes, we are more comfortable hiring people to work in low paid, insecure contracts…

    Than we are investing in the new technology that delivers for workers, for productivity and for our country.

    And so we’ve got to break out of that trap.

    But we’ve also got to look at regulation – across the piece. 

    And where it is needlessly holding back the investment we need to take our country forward…

    Where it is stopping us building the homes…

    The data centres, the warehouses, grid connectors, roads,  trainlines, you name it…

    Then mark my words – we will get rid of it.

    Take the East Anglia 2 wind farm.

    A £4 billion investment.

    One Gigawatt of clean energy.

    An important project – absolutely.

    But also the sort of thing a country as committed to clean energy as we are…

    Needs to replicate again and again.

    Now regulators demanded over four thousand planning documents for that project…

    Not 4000 pages – 4000 documents.

    And then six weeks after finally receiving planning consent…

    It was held up for a further two years by judicial review.

    I mean – as an investor…

    When you see this inertia…

    You just don’t bother do you?

    And that – in a nutshell…

    Is the biggest supply-side problem we have in our country.

    So it’s time to upgrade the regulatory regime…

    Make it fit for the modern age..

    Harness every opportunity available to Britain.

    We will rip out the bureaucracy that blocks investment…

    We will march through the institutions…

    And we will make sure that every regulator in this country…

    Especially our economic and competition regulators…

    Takes growth as seriously as this room does.

    And look – tell us about your frustrations on this. 

    Speak to my team…

    Speak to me, to Rachel, to Jonny, to Ed…

    And our new Minister for Investment, Poppy. 

    Any leader knows the importance of a good team – and we’ve got one here.

    We are united behind growth…

    Our door is open…

    And the work of change has already begun.

    We’re reforming the planning system…

    The onshore wind ban has gone… 

    New projects in solar, wind, tidal energy…

    Carbon Capture and Storage…

    Tax relief for the creative industries…

    Investment from the world’s leading companies…

    Blackstone, Amazon…

    A new partnership with Cyrus One to build data centres in Didcot…

    Finally grasping the nettle on airport expansion…

    A new £1 billion commitment from Manchester Airport Group to expand Stansted…

    Opening up new routes to work and holiday destinations…

    The first of tens of billions worth of inward investment deals we will sign today.

    Because we are determined to lead the way on growth. 

    Determined to get Britain building…

    Determined to get our economy moving…

    Through the shock and awe of investment.

    That’s the message to take home today.

    When the big decisions are made…

    When you go back to your board rooms and ask…

    Where does our money go…

    Where do our jobs go…

    Where does our investment in a better future go?

    Let me offer you a new answer…

    It’s time to back Britain.

    Thank you.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: PM International Investment Summit Speech: 14 October 2024

    Source: United Kingdom – Government Statements

    Prime Minister Keir Starmer delivered a speech at the International Investment Summit 2024.

    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    And thanks to all you for being here…

    It’s fantastic to stand here and look out and see so many of you here…

    And I’m really grateful that you have made the effort, and you are here. It means a huge amount to me and my government…

    And welcome to this Government’s first International Investment summit.

    And some of you I know have come a very long way to be here…

    You have flown in from a great distance, some of you will be going straight back out again afterwards.

    You have made a huge effort to share with us the precious gift of your time…

    And we are really, really grateful for that.

    And welcome to the Guild Hall…

    London’s ancient Town Hall…

    Isn’t it a fantastic building, it’s really breathtaking this Guild Hall.

    Not of course to be confused with the nearby Guildhall school of music…

    Where I once pursued a fleeting ambition to play the flute professionally. I kid you not…

    Complete with then long hair and very, very flared jeans. 

    All photographic evidence has been destroyed.

    But today we are pursuing a different ambition…

    A shared ambition…

    Growth.

    You have to grow your business.

    And I have to grow my country.

    I’ll leave it to you to decide if you think voters or shareholders are the more forgiving audience…

    But without growth – let’s just agree it’s a difficult conversation…

    And that therefore, growth is a cause that binds us together.

    The shared endeavour of prosperity.

    It’s why we’ve made it the number one test of this government…

    I am determined to do everything in my power to galvanise growth…

    Determined for this country to be the highest growing economy in the G7…

    That is our most important national mission.

    Because it’s the only way to deliver the mandate for change that we won.

    Growth is higher wages.

    Growth is more vibrant high streets.

    Growth is public services back on their feet.

    It’s less poverty, more opportunity, more meals out, more holidays, more precious moments with your family, more cash in your pocket.

    And of course, for any business…

    It means a bigger market.

    Higher demand…

    A more secure and prosperous future…

    Your effort and enterprise – rewarded in profit.

    But it’s much more important, even than all that. 

    We live in an age when political fires rage across the world.

    Conflict. Insecurity. A populist mood that rails against the open values so many of us hold dear.

    Values which, as you know…

    Are so crucial for making business easy to do.

    And yet – at the same time…

    Look around the world…

    Look at the investments you and others are making.

    This is an age of great possibility, as well. 

    Huge revolutions in digital technology, clean energy, medicine, life sciences…

    Each – with the potential to fundamentally change the way we live and the way that we work…

    Each – with the possibility to transform the lives of working people for the better.

    And so, in times like this…

    Economic growth is vital – as it always has been…

    If we are to steer our way through a great period of insecurity and change…

    And on to calmer waters. 

    Because when working people benefit from that growth…

    When every community enjoys the fruits of wealth creation…

    It stops a country turning in on itself and against the world.

    And that in turn, helps provides a stable foundation…

    Breathing space… 

    For a country to take advantage of those opportunities for a better future.

    To put it more simply…

    It’s not just that stability leads to growth – though we all recognise that. 

    It’s also that growth leads to stability…

    Growth leads to country that is better equipped to come together…

    And get its future back.

    That’s why it’s always been so critical to my political project.

    The key ingredient of that ‘Great Moderation’ we became accustomed to before the financial crash…

    But which together, in partnership…

    We now have to earn again. 

    Every one of you here today…

    Has been invited for that reason.

    It’s not just that you lead some of the most important businesses in the world.

    It’s also because you are pivotal to this great cause of our times. 

    And the reason we are focusing so much on investment…

    Is because the mission of growth, in this country in particular…

    Demands it.

    Private sector investment is the way we rebuild our country…

    And pay our way in the world.

    And make no mistake – this is a great moment to back Britain…

    This is great moment to back England, Scotland, Northern Ireland and Wales. 

    We have an amazing education system that produces some of the best talent in the world.

    The largest tech sector in Europe.

    Leading positions in some of those great industries of the future…

    Artificial Intelligence, Life Sciences, Clean energy, the creative industries.

    We’re a country where businesses thrive – small and large alike…

    With clear regulatory frameworks and protections…

    A legal system that sets high standards around the globe…

    A location which means we can speak to our colleagues in the Americas or Asia in the same day…

    A high ranking in the Global Innovation index, every year…

    Our wonderful global language…

    Our world-renowned sport and culture… 

    This great modern city…

    And all around us…

    A heritage steeped in commerce and trade…

    A set of shared values – centuries-long…

    For being a country that is open for business.

    You can’t put a price on any of this.

    Now we have our problems – of course we do.

    As I’ve said – our public services need urgent care… 

    And our public finances need the tough love of prudence…

    Challenges we cannot ignore. 

    Because, we know – just as every leader here knows…

    That those early weeks and months are precious.

    And, no matter how many people advise you to ignore it…

    That you must run towards the fire to put it out…

    Not let it spread further.

    So we will fix our public services…

    We will stabilise our economy… 

    And we will do it quickly.

    Because we don’t want any of those problems associated with our inheritance…

    Misting up the shop window of Britain…

    Distracting you – from all those assets I just listed.

    Assets that may feel more intangible…

    But are more valuable…

    More enduring…

    Deeper in the bones of this nation.

    And which are ready to be unlocked…

    If we take firm and decisive action on policy – which we can and we will…

    To give you total confidence that this is the moment to back Britain.  

    So let me quickly run through four crucial areas in our pitch for Britain.

    I know – it’s a kind of CEO heresy to have a list of four not three…

    So I apologise!

    But please indulge me.

    First – stability.

    We have a golden opportunity to use our mandate…

    To end the culture of chop and change…

    The policy churn…

    The sticking plaster politics…

    That makes it so hard for investors to assess the value of any proposition.

    Now, you may think – well every government says that…

    But the stability that comes with a large majority in our system…

    That is a unique advantage.

    And we have the determination…

    The focus on clear long-term ends…

    A mission-led mindset that thinks in years…

    Not the days or hours of the news grid…

    Needed to unlock that potential. 

    And don’t doubt that.

    Second – strategy.

    We are building a more strategic architecture for growth. 

    A way for investors to have a much steadier hand on the tiller.

    That’s why we’ve announced a new National Wealth Fund…

    And switched on Great British Energy…

    Which will accelerate investment in clean power and future technologies.

    Like Carbon Capture and Storage, for example…

    Which we just backed – alongside BP, Equinor and Eni

    And which shows the hard-headed approach we will bring to industrial policy.

    A partnership – sharing the risk with the private sector…

    Ambitious – absolutely. 

    But also unsentimental.

    Guided by the market…

    Focused, at all times…

    On the real potential for comparative advantage in this country.

    You know – this is the point I would always make about our Modern Industrial Strategy. 

    In this country, there has been a long rather arcane political debate about “picking winners”.

    Well, we’re not in the business of individual picking winners.

    But we are in the business of building on our strengths.

    Mowing the grass on the pitch…

    Making sure the changing rooms are clean and comfortable…

    That the training ground is good.

    So that when our businesses compete…

    They are match fit…

    That, to put it simply…

    We give the businesses of this country the best conditions to succeed.

    I don’t know why that’s sometimes controversial in this country…

    Industrial policy seems fairly commonplace elsewhere around the world.

    But it is fundamental to the way we see our job on growth…

    And our relationship with a room like this.

    Third – Britain’s global standing.

    We’re determined to improve it.

    Determined – to repair…

    Britain’s brand as an open, outward-looking, confident, trading nation.

    Look – I see this as a diplomatic necessity…

    And I think it’s clear how much priority I have given it in the first 100 days of government.

    All around the world…

    Whether it’s countries, or investors…

    People want to know that Britain can be a stable, trusted, rule-abiding partner.

    As we always have been…

    But that somehow, during the whole circus that followed Brexit… 

    The last Government made a few people less sure about. 

    Needlessly insulting our closest allies…

    And of course a few choice Anglo-Saxon phrases for business. 

    Well – no more.

    We have turned the page on that – decisively…

    And we will use that reset for growth. 

    Finally fourth – regulation

    Now, I don’t see regulation as good or bad.

    That seems simplistic to me.

    Some regulation is life-saving…

    We have seen that in recent weeks here, with the report on the tragedy of Grenfell Tower.

    But across our public sector…

    I would say the previous Government hid behind regulators.

    Deferred decisions to them because it was either too weak or indecisive…

    Or simply not committed enough to growth. 

    Planning is a very real example of that…

    Or – for our friends from across the pond…

    ‘Permitting’ is a really clear example of that… 

    The global language…

    But anyway – the key test for me on regulation…

    Is of course – growth. 

    Is this going to make our economy more dynamic?

    Is this going to inhibit or unlock investment?

    Is it something that enables the builders not the blockers?

    Now – I know some people may be wondering about our labour market policies introduced last week.

    Let me be clear – they are pro-growth.

    Workers with more security at work…

    With higher wages…

    That is a better growth model for this country.

    It will lead to more dynamism in our labour market.

    And seriously – we have to think differently about this…

    A nation’s position in the world is changing all the time…

    As must its growth model. 

    So while I know this is a room full of businesses who take investing in their human capital seriously…

    When I look at the British economy as a whole…

    It does seem as if sometimes, we are more comfortable hiring people to work in low paid, insecure contracts…

    Than we are investing in the new technology that delivers for workers, for productivity and for our country.

    And so we’ve got to break out of that trap.

    But we’ve also got to look at regulation – across the piece. 

    And where it is needlessly holding back the investment we need to take our country forward…

    Where it is stopping us building the homes…

    The data centres, the warehouses, grid connectors, roads,  trainlines, you name it…

    Then mark my words – we will get rid of it.

    Take the East Anglia 2 wind farm.

    A £4 billion investment.

    One Gigawatt of clean energy.

    An important project – absolutely.

    But also the sort of thing a country as committed to clean energy as we are…

    Needs to replicate again and again.

    Now regulators demanded over four thousand planning documents for that project…

    Not 4000 pages – 4000 documents.

    And then six weeks after finally receiving planning consent…

    It was held up for a further two years by judicial review.

    I mean – as an investor…

    When you see this inertia…

    You just don’t bother do you?

    And that – in a nutshell…

    Is the biggest supply-side problem we have in our country.

    So it’s time to upgrade the regulatory regime…

    Make it fit for the modern age..

    Harness every opportunity available to Britain.

    We will rip out the bureaucracy that blocks investment…

    We will march through the institutions…

    And we will make sure that every regulator in this country…

    Especially our economic and competition regulators…

    Takes growth as seriously as this room does.

    And look – tell us about your frustrations on this. 

    Speak to my team…

    Speak to me, to Rachel, to Jonny, to Ed…

    And our new Minister for Investment, Poppy. 

    Any leader knows the importance of a good team – and we’ve got one here.

    We are united behind growth…

    Our door is open…

    And the work of change has already begun.

    We’re reforming the planning system…

    The onshore wind ban has gone… 

    New projects in solar, wind, tidal energy…

    Carbon Capture and Storage…

    Tax relief for the creative industries…

    Investment from the world’s leading companies…

    Blackstone, Amazon…

    A new partnership with Cyrus One to build data centres in Didcot…

    Finally grasping the nettle on airport expansion…

    A new £1 billion commitment from Manchester Airport Group to expand Stansted…

    Opening up new routes to work and holiday destinations…

    The first of tens of billions worth of inward investment deals we will sign today.

    Because we are determined to lead the way on growth. 

    Determined to get Britain building…

    Determined to get our economy moving…

    Through the shock and awe of investment.

    That’s the message to take home today.

    When the big decisions are made…

    When you go back to your board rooms and ask…

    Where does our money go…

    Where do our jobs go…

    Where does our investment in a better future go?

    Let me offer you a new answer…

    It’s time to back Britain.

    Thank you.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI: Baker Hughes, Repsol to Develop Next Generation Digital Capabilities Through Leucipa™

    Source: GlobeNewswire (MIL-OSI)

    • Companies will develop new AI-powered processes and workflows to achieve further optimization in oil and gas production
    • Knowledge sharing will enhance Leucipa’s capabilities

    HOUSTON and LONDON, Oct. 14, 2024 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, and Repsol, a global multi-energy company, announced Monday a new agreement to collaboratively develop and deploy next-generation artificial intelligence capabilities through the Leucipa™ automated field production solution.

    Through this strategic collaboration, AI-powered automation workflows will be developed and implemented throughout Repsol’s assets around the globe to unlock new operational capabilities. This collaboration will leverage the shared knowledge, best practices and technical expertise of both companies to optimize production, improve efficiency and reduce emissions.

    “Artificial intelligence is revolutionizing energy production, and Leucipa enables companies to operate more efficiently to recover more from their assets,” said Amerino Gatti, executive vice president of Oilfield Services & Equipment at Baker Hughes. “Repsol has long been a trusted collaborator, and their support has helped Leucipa develop into the industry’s most innovative and effective digital production software. We are excited to work together to accelerate the energy industry’s digital evolution.”

    Repsol has leveraged Leucipa across their operations since the introduction of the solution, helping to optimize their digital infrastructure and operational capabilities. The memorandum of understanding signed Oct. 11, 2024, will deepen that relationship while also reinforcing Repsol’s position as an industry leader and creating new commercial opportunities for Leucipa.

    The Leucipa automated field production solution helps oil and gas operators proactively manage production and reduce carbon emissions. Leucipa focuses first on the specific outcome an operator wants to achieve, harnessing and leveraging data to drive intelligent operations. By automating production processes, Leucipa will reduce inefficiency, ensure more environmentally sound operations, and enable customers to help recover the millions of barrels that would have otherwise remained in the ground.

    About Baker Hughes
    Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

    For more information, please contact:

    Media Relations

    Brian Reynolds
    +1 346-315-6663
    brian.reynolds@bakerhughes.com

    Investor Relations:

    Chase Mulvehill
    +1 346-297-2561
    investor.relations@bakerhughes.com

    The MIL Network –

  • MIL-OSI: Dragonfly Energy Announces Dragonfly IntelLigence™ Smart Battery Technology for Heavy Duty Trucking Lithium Power Systems

    Source: GlobeNewswire (MIL-OSI)

    NASHVILLE, Tenn., Oct. 14, 2024 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in energy storage and maker of Battle Born Batteries®, unveiled at the American Trucking Associations’ annual Management Conference & Exhibition its Dragonfly IntelLigence™ technology for the heavy duty trucking industry. This patent-pending smart battery technology gives fleets and truck drivers real-time system monitoring and app-based connectivity, providing full visibility over their battery system. Building upon the proven reliability of Battle Born Batteries, Dragonfly IntelLigence represents the next generation of the Company’s energy storage solutions, designed to optimize performance and efficiency in demanding commercial applications.

    Dragonfly IntelLigence communication technology empowers drivers with real-time insights into their entire battery system, providing visibility at both the individual battery level and the system as a whole. By combining a wireless mesh network with Bluetooth connectivity, drivers can use the Battle Born mobile app to monitor battery life, set custom alerts, and access historical usage data. This comprehensive connectivity, unique to Dragonfly Energy’s system, provides a significant advantage over competitor Bluetooth solutions, and will provide drivers with peace of mind and enhanced control over their power source. Additionally, through the Dragonfly IntelLigence Hub, OEMs can transmit battery data via external communication protocols, such as RV-C (Recreation Vehicle-CAN), allowing for seamless integration with in-cab displays and fleet management systems.

    This new, advanced smart lithium solution provides a powerful addition to the Company’s award-winning Battle Born® All-Electric Auxiliary Power Unit (“APU”), delivering enhanced capabilities beyond what was previously available. The advanced monitoring capability of Dragonfly IntelLigence, gives drivers the visibility to now have complete confidence in the company’s lithium powered system’s ability to maintain power during rest periods, eliminating the need for idling or auto start/stop.

    “The integration of our patented Dragonfly IntelLigence technology marks a significant advancement for our APU solution,” said Wade Seaburg, chief revenue officer of Dragonfly Energy. “This upgrade gives drivers comprehensive visibility over their battery system so they can rest easy knowing the battery won’t drain nor the truck restart while they are trying to sleep. By prioritizing driver experience and efficiency, we’re helping fleets reduce costs and improve sustainability.”

    The Battle Born All-Electric APU, equipped with Dragonfly IntelLigence as an optional upgrade, is available now to fleets and OEMs, with public availability to owner/operators expected by the end of the calendar year 2024.

    For more information about Dragonfly Energy, visit DragonflyEnergy.com. To learn more about Dragonfly IntelLigence™ click here.

    About Dragonfly Energy 
    Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company’s overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

    To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit http://www.dragonflyenergy.com/investors.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief, or expectations, including, but not limited to, statements regarding Dragonfly IntelLigence™, the Company’s future results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions.

    These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company’s control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such factors include those set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company’s subsequent filings with the SEC available at http://www.sec.gov. If any of these risks materialize or any of the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Relations
    Caldwell Bailey
    ICR, Inc.
    DragonflyIR@icrinc.com

    Media Contacts:
    Susan Fall
    LaunchIt Public Relations
    619-890-9415
    susan@launchitpr.com

    Amy Demuth
    RAD Strategies Inc.
    775-323-6333
    dragonfly@radstrategiesinc.com

    Source: Dragonfly Energy Holdings Corp.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cef2a1be-a6b5-4b51-8326-698f3f3f7227

    The MIL Network –

  • MIL-OSI Russia: Rosneft athletes took part in the Moscow Marathon and the Energy of Life race

    MILES AXLE Translation. Region: Russian Federation –

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

    The Rosneft team took part in one of the largest running competitions in the country – the Moscow Marathon – for the eleventh time. 177 employees of the Company took part in the marathon, running the 42.2 km distance, as well as the 10 km distance in the individual competition.

    Support for mass, professional and youth sports and healthy lifestyle is one of the key areas of social work of Rosneft and its subsidiaries. Sports complexes, ice arenas, and multifunctional sports grounds are built in the regions of presence with the Company’s funds. Dozens of modern large sports facilities have been opened in the regions of Russia with the support of Rosneft. The company supports projects for the development and popularization of physical culture and healthy lifestyle.

    The Moscow Marathon traditionally involves the largest Russian companies from various sectors of the economy, as well as teams of the best amateur and semi-professional running communities. This year, a record number of participants registered for the competition – more than 40,000 athletes from Russia and neighboring countries. On October 12, the 10 km race started, during which many of the Company’s employees set personal records.

    On October 13, Rosneft athletes took to the start line of the marathon distance – both in the individual race and in the relay. The Rosneft relay team, consisting of amateur athletes, showed an impressive result – 5th place among 129 teams with a time of 2:25:10 and an average pace over the distance of 3 minutes 26 seconds. The runners managed to improve last year’s result by 3 minutes.

    Rosneft is a regular participant in corporate races within the Moscow Marathon, demonstrating high sporting achievements every year. The team’s results are among the top five in the history of the Moscow Marathon.

    In addition, according to established tradition, every October the Company’s athletes and their family members join the all-Russian corporate run “Energy of Life”. Last week, the competition stages were held in Moscow, Samara, Tyumen, and on October 12, they ended in Krasnodar.

    About 300 people took part in the start in Krasnodar. Participants ran distances of 2.5 km, 5 km and 10 km. The length of the tracks for children’s races was 500 m and 2.5 km. Competitions among adults were held according to the GTO standards in the category from 18 to 64 years old.

    The winners of the competition were awarded by two-time World Cup champion and European Sambo champion Vasily Karaulov. In the Team Spirit nomination, two teams were recognized: RN-Krasnodarneftegaz and NK Rosneft Kubannefteprodukt.

    As part of the corporate program “Energy of Life”, the Company carries out large-scale information and organizational work to develop a mass sports movement among employees. More than 106 thousand employees of the Company participate in the corporate-wide sports and health movement. More than 54 thousand take part in competitions in various sports in corporate-wide competitions and challenges, in competitions at the regional and federal levels. Sports training is organized for employees.

    Department of Information and Advertising of PJSC NK Rosneft October 14, 2024

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.rosneft.ru/press/nevs/item/220896/

    MIL OSI Russia News –

  • MIL-OSI Russia: Bashneft has introduced a new vehicle management system

    MILES AXLE Translation. Region: Russian Federation –

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

    ANK Bashneft (part of Rosneft) has organized the work of the Unified Transport Management Center, which significantly increases the efficiency of the Company’s vehicle fleet. According to preliminary estimates, the economic effect from the implementation of the innovation will amount to 350 million rubles annually.

    Rosneft is betting on digitalization in all areas of activity, which is one of the key elements of the Company’s strategy. The introduction of digital technologies allows for an increase in the speed of decision-making, as well as the transparency and manageability of processes throughout the entire production chain.

    The Unified Transport Control Center, created by specialists from Bashneft-Dobycha (Bashneft’s operator for oil and gas production), allows for online coordination of service transport operations within the production area. Rosneft service enterprises operating in the Republic of Bashkortostan and adjacent regions are connected to the Center: Bashneft-Stroy, RN-Burenie, RN-Service, RN-Remont NPO, and RN-Transport.

    The Center receives all information about technological or passenger transport: location, order fulfillment status, driver contacts, etc. The system allows to meet the transport needs of several enterprises of the Company during one shift. The Center operates under the control of a telematic electronic platform developed by Rosneft’s IT integrator, Sibintek Investment Company.

    Thanks to the introduction of a new transport management system, time losses in the operation of transport servicing drilling crews, well maintenance crews and oilfield equipment have been significantly reduced. The use of innovative technology allows for increased efficiency in the use of the vehicle fleet and, ultimately, production processes as a whole.

    Reference:

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

    Department of Information and Advertising of PJSC NK Rosneft October 14, 2024

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.rosneft.ru/press/nevs/item/220895/

    MIL OSI Russia News –

  • MIL-OSI China: COP16: Forum on Energy Transition Promoting Biodiversity Conservation to kick off

    Source: China State Council Information Office

    The 16th Conference of the Parties (COP16) to the United Nations Convention on Biological Diversity (CBD) will be held in Cali, Colombia, from October 21 to November 2, 2024. GEIDCO will partner with the United Nations Development Programme (UNDP), the Sustainable Development Solutions Network (SDSN) and the World Resources Institute (WRI) to host a forum on energy transition and biodiversity conservation during COP16. The event, scheduled for Oct. 25 from 10-11 a.m. in the Cali Cultural Center’s main auditorium, will unveil research findings titled “Plans and Typical Cases for Promoting Biodiversity Conservation through Energy Transition”.

    MIL OSI China News –

  • MIL-OSI Economics: The Samsung Art Store to Feature Exclusive Highlights from The Museum of Modern Art’s Collection

    Source: Samsung

    Twenty-seven well-known artworks from MoMA’s collection, including those by artists Frida Kahlo, Henri Matisse and Georgia O’Keeffe, are available on the Samsung Art Store today, exclusively to The Frame by Samsung, a best-selling Lifestyle TV that doubles as a piece of art. When it’s on, use The Frame to watch your favorite movies and shows in brilliant 4K resolution. When it’s off, explore the Samsung Art Store to transform any space in your home with a vast catalog of artworks that are handpicked and curated from hundreds of institutions, artists and collectors around the world.
    MoMA was founded in 1929 by three progressive women who championed modern and contemporary art and wanted to establish a museum that could be a catalyst for experimentation, learning and creativity. In collaboration with MoMA, the Samsung Art Store includes highlights from MoMA’s collection that were selected by Daria Greene, Global Curator of the Samsung Art Store, to honor the institution’s history and vision, and includes Frida Kahlo’s “Fulang Chang and I” (1937), which is the first artwork by the legendary Mexican artist to arrive on the platform.
    “MoMA is a place that fuels creativity, ignites minds and provides inspiration. Through our relationship with Samsung, we are broadening access to MoMA’s collection in a truly innovative way to millions of people,” said Robin Sayetta, Head of Business Development at The Museum of Modern Art. “We were purposeful in building this new digital collection and hope to enrich the lives of art enthusiasts with culture and history at an extraordinary scale.”
    A view of the fifth-floor collection galleries. Shown: Claude Monet. Water Lilies. 1914–26. Oil on canvas, three panels. Mrs. Simon Guggenheim Fund. © 2024 The Museum of Modern Art, New York. Photo: Noah Kalina
    Expanding Access to Art Through Innovation
    Included in the more than two dozen artworks from MoMA are celebrated works such as Vincent van Gogh’s “The Starry Night” (1889), Henri Rousseau’s “The Dream” (1910) and Georgia O’Keeffe’s “Evening Star III” (1917). This selection represents a diverse range of styles and points in time, offering something for every art lover and Samsung Art Store subscriber.
    A view of the fifth-floor collection galleries. Shown: Vincent van Gogh. The Starry Night. 1889. Oil on canvas. Acquired through the Lillie P. Bliss Bequest. © 2024 The Museum of Modern Art, New York. Photo: Noah Kalina
    “At Samsung, we strive to redefine the home entertainment experience through continual innovation. Our collaboration with MoMA allows us to bring culturally significant works into millions of homes, allowing people to engage with renowned art in a truly remarkable way,” said Sang Kim, EVP and General Manager of the North America Service Business at Samsung Electronics. “This endeavor exemplifies Samsung’s mission to use technology to deliver exceptional experiences into the everyday lives of consumers.”
    “For nearly 100 years, MoMA has been instrumental in expanding the reach and impact of Modern and Contemporary art, cementing its position as one of the most dynamic and diverse institutions globally. Through this collaboration, we are able to share works by incredible artists, including 20th century female trailblazers, on the Samsung Art Store,” adds Daria Greene, Global Curator of Samsung Art Store.
    Hannah Höch’s Untitled (Dada) (detail) (1922) shown on The Frame by Samsung. Photo: Samsung
    The Samsung Art Store is available only on The Frame, which has been refreshed in 2024 to deliver an even more complete artistic and aesthetic experience. That includes ArtfulColor validation from Pantone1, the industry leading color experts. As the world’s first and only art TV to achieve this validation, The Frame delivers natural and realistic visuals that wouldn’t look out of place in a gallery. It hangs just like a picture flush against the wall and is available in class sizes ranging from 32 to 85 inches. The bezels2 can also be swapped out with various colors and designs, giving you more ways than ever to customize The Frame for your unique style and décor.
    The Frame also delivers value-add features that you can only find from Samsung – the #1 global TV brand for 18 years and counting.3 Samsung AI technology makes everything you watch look clearer and crisper, while you enjoy access to 2,700+ free channels, including 400+ Samsung TV Plus4 premium channels. You can also use your TV as your smart home hub and ensure your personal data is protected by Samsung Knox security.

    The Frame is available for purchase at MoMA Design Store at store.moma.org, Samsung.com and other select retailers.
    The Introduction of Highlights from MoMA’s Collection follows the Samsung Art Store’s relationships with world-class museums including The Metropolitan Museum of Art and Musée d’Orsay, and the release of several collections this year featuring René Magritte, Jean-Michel Basquiat and over 40 Marimekko artworks. Samsung remains committed to being the premier destination for experiencing a wide breadth of high-quality digital art.

    MIL OSI Economics –

  • MIL-OSI Global: A devastating hurricane doesn’t dramatically change how people vote – but in a close election, it can matter

    Source: The Conversation – USA – By Boris Heersink, Associate Professor of Political Science, Fordham University

    Residents walk on a damaged street in Sarasota, Fla., on Oct. 10, 2024. Eva Marie Uzcategui for The Washington Post via Getty Images

    North Carolina and Florida are changing administrative rules and, in some cases, issuing emergency funding that is intended to make it easier for people in areas damaged by Hurricanes Helene and Milton to vote.

    The recovery in both states is expected to extend far beyond the November 2024 election period. The majority of the people in the affected communities in North Carolina and Florida voted for Republican presidential nominee Donald Trump in 2020, making some election analysts wonder if some Trump supporters will be able to cast their ballots.

    Amy Lieberman, a politics and society editor at The Conversation U.S., spoke with Boris Heersink, a scholar of voters’ behavior after a natural disaster, to better understand if and how the recent hurricanes could shift the results of the 2024 presidential election.

    How can hurricanes create complications ahead of an election?

    A massive hurricane disrupts people’s lives in many important ways, including affecting people’s personal safety and where they can live. Ahead of an election, there are a lot of practical limitations about how an election can be executed – like if a person can still receive mail-in ballots at home or elsewhere, or if it is possible to still vote in person at their polling location if that building was destroyed or damaged.

    Another issue is whether people who have just lived through a natural disaster and will likely be dealing with the aftermath for weeks to come are focused on politics right now. Some might sit out the election because they simply have more important things to worry about.

    Beyond practical concerns, how else can a natural disaster influence an election?

    The other side of the equation, which is what political scientists like myself are mostly focusing on, is whether people take the fact that a natural disaster happened into consideration when they vote.

    Two scholars, Christopher Achen and Larry Bartels, have argued that sometimes voters are not great at figuring out how to incorporate bad things that happened to them into a voting position. In some cases, it is entirely fair to hold an elected official responsible for bad outcomes that affect people’s lives. But at other moments, bad things can happen to us without that being the fault of an incumbent president or governor. And voters should ideally be able to balance out these different types of bad things – those it is fair to punish elected officials for, and those for which it isn’t fair to hold them responsible.

    After all, a devastating hurricane is terrible, but it is not Kamala Harris’ fault that it happened. But Achen and Bartels argue that voters frequently still punish elected officials for random bad events like this.

    Their most famous example is the consequences of a series of shark attacks off the New Jersey coast in the summer of 1916. As a result of those attacks, the New Jersey tourism industry saw a major decline. While these findings are still being debated, Achen and Bartels argue that Jersey shore voters subsequently voted against Woodrow Wilson in the 1916 presidential election at a higher rate than they would have had the shark attacks not happened. They argue that voters did this even though Wilson had no involvement in the shark attacks.

    Kamala Harris visits a Hurricane Helene donation drop-off site for emergency supplies in Charlotte, N.C., on Oct. 5, 2024.
    Mario Tama/Getty Images

    How else do voters consider bad events when they vote?

    Scholars like John Gasper and Andrew Reeves argue that voters mostly care whether elected officials respond appropriately to a disaster. So, if the president does a good job reacting, voters do not actually punish them at all in the next election. However, voters can punish elected officials if they feel like the response is not correct.

    The fact that Hurricane Katrina hit Louisiana in 2005 was not the fault of then-President George W. Bush. But the perceived slowness of the government response is something a voter could have held him responsible for.

    How do voters’ political affiliations affect where and how they lay the blame?

    Colleagues and I have shown that how people interpret the combination of a disaster and the government response is likely colored by their own partisanship.

    We looked at both the effects of Superstorm Sandy on the 2012 presidential election and natural disasters’ impact on elections more broadly from 1972 through 2004. One core finding is that when presidents reject state officials’ disaster declaration requests, they lose votes in affected counties – but only if those counties were already more supportive of the opposite party.

    If there is a strong positive government response, the incumbent president or their party can actually gain votes or lose voters affected by a disaster. So, Republicans affected by the hurricanes could become more inclined to vote against Harris if they feel like they are not getting the help they need. But it could also help Harris if affected Democrats feel like they are getting enough aid.

    The major takeaway is that if the government responds really effectively to a natural disaster or other emergency, there is not a huge electoral penalty – and there could even be a small reward.

    That is not irrelevant in a close election. If Republicans in affected areas in North Carolina feel the government response has been poor and it inspires them to turn out in higher numbers to punish Harris, that could matter. But if they feel like the response has been adequate, research suggests either no real effect on their support for Harris – or possibly even an increase in Harris voters.

    Donald Trump speaks with owners of a furniture store that was damaged during Hurricane Helene on Sept. 30, 2024, in Valdosta, Ga.
    Michael M. Santiago/Getty Images

    How much influence can a politician have on people assessing a government response?

    Scholars mostly assume that people affected can tell whether the government response was good or not. Trump and other Republicans are falsely saying that the response is slow and falsely claiming that Federal Emergency Management Agency money is being spent on immigrants who are not living in the country legally. There does not appear to be a slow government response to the hurricane in North Carolina, and there’s no evidence the response is insufficient in Florida, either.

    So, the question now is whether voters affected by these hurricanes will respond based on their actual lived experiences, or how they are told they are living their experience.

    Boris Heersink receives funding from the Russell Sage Foundation.

    – ref. A devastating hurricane doesn’t dramatically change how people vote – but in a close election, it can matter – https://theconversation.com/a-devastating-hurricane-doesnt-dramatically-change-how-people-vote-but-in-a-close-election-it-can-matter-241179

    MIL OSI – Global Reports –

  • MIL-OSI USA: National Tripartite Alliance remains strong during changes

    Source: US International Brotherhood of Boilermakers

    Amid a time of significant change within the Boilermakers union, newly elected International President Tim Simmons set the tone for the 37th MOST National Tripartite Alliance conference held near San Diego Aug. 26-29.  Simmons gave a powerful message, emphasizing the union’s perseverance and the need to serve the members. 

    Simmons acknowledged recent news about indictments handed down by the Department of Justice and the federal investigation into the union, as well as the unprecedented changes in the union’s leadership.

     “We have a constitution that directs us…and we have followed the [Boilermakers union] constitution faithfully. We have made other changes, which our members have appreciated, our contractors have applauded and that have strengthened our organization.”

    He upheld that the union’s future is secure, while also recognizing that the path forward will likely not be without challenges. Simmons pointed to the Boilermakers’ history in steam and the doom that lay over the union when the locomotive steam engine was replaced by diesel—eliminating the bread-and-butter work of many Boilermakers. 

    “It was the dedication and adaptability of union Boilermakers that allowed us as an organization to change course and redirect our resources into new industries and technologies,” he said. “That same determination is alive and well today.”

    He also reaffirmed his commitment to working together with the International Executive Council, staff, local lodge leaders and members to press forward and ensure Boilermakers continue to be the skilled craftspeople contractors and owners know and trust to man their projects. 

    “We are here to listen to each other’s concerns and put our heads together to plot a path forward,” Simmons said. “We owe this to you, and we owe it to our brothers and sisters in the field who want to be able to provide for their families. 

    “The Boilermakers union has faced storms before, and we will do so again—but we will persevere. We were forged by those generations that came before us, and we will build on their foundation to make better the lives of those who come after us.”

    Sonya Bohmann, Executive Director of the Construction Industry Alliance for Suicide Prevention, underscored the critical issue of elevated suicide rates within the construction sector. Notably, the industry’s suicide rate is four times higher than the national average, making it the second highest among U.S. industries. Bohmann emphasized the importance of understanding mental health as a continuum, where individuals may fluctuate between thriving and struggling due to various life events. 

    She advocated for viewing mental health challenges as illnesses, rather than as moral failings. She highlighted that until the 1970s, suicide was considered a crime, leading to stigmatizing language that persists today. 

    Several factors contribute to the heightened suicide risk in construction, including high stress levels, demanding work conditions, and a culture that often stigmatizes seeking help. Additionally, the industry employs a significant number of veterans, who may face challenges stemming from combat-related traumas, further elevating the risk. 

    To address these challenges, CIASP is dedicated to creating a zero-suicide industry by providing resources and tools for suicide prevention and mental health promotion in construction. Bohmann advocates for peer-to-peer support, fostering social connectedness, and encouraging leadership to prioritize mental health alongside safety. She also stresses the importance of open conversations about mental health, suggesting that simple actions like checking in with colleagues or sharing supportive messages can make a significant difference.

    For immediate assistance, individuals can contact the 988 Suicide & Crisis Lifeline, which offers 24/7 access to trained crisis counselors. 

    Nuclear energy is gaining momentum on Wall Street, signaling a shift in this long-overlooked sector, according to Hilary Lane, Director of Fuel and Radiation Safety at the Nuclear Energy Institute. With 94 reactors across 53 U.S. sites, nuclear power provides about 18% of the nation’s energy and nearly half of its clean electricity. Its efficiency is notable, with a power capacity factor over 90%, far exceeding wind and solar’s 25-30%.

    The recent completion of Vogtle Units 3 and 4 in Georgia, each at 1,100 MW, marks a significant milestone for the industry. Looking ahead, nuclear capacity is expected to triple from 100 gigawatts to 300 gigawatts over the next 25 years, driven by advanced nuclear technologies. These range from micro-reactors to large-scale reactors capable of powering cities.

    Beyond electricity, advanced nuclear can produce hydrogen and provide industrial process heat. Sectors like data centers, oil and gas and artificial intelligence are exploring nuclear energy to meet their growing energy needs. Projects such as TerraPower in Wyoming, which is converting coal plants to nuclear, and X-energy in Texas, which is collaborating with Dow Chemical, highlight nuclear’s industrial potential.

    Federal support for nuclear is increasing, with new legislation and tax credits boosting the sector. Bipartisan backing at the state level is also rising, with many states lifting restrictions and exploring ways to accelerate nuclear energy’s growth.

    MOST Programs Administrator Mark Garrett shared training updates and changes to drug testing and OSHA 10. He said that he’s spoken with apprentice coordinators in different areas and is informed about those who are coming into the union who may already have an OSHA 10 certificate. If he can verify a member has passed OSHA 10, they don’t need to retake it. 

    “It streamlines the process and gets people to your jobsites,” he said. 

    Garrett also said that in July, the MOST Board of Trustees decided to remove testing for marijuana metabolites. He said if a contractor or owner requests this testing, it’s still available.

    Garrett said the new mental health program introduced last year has received positive feedback. “I feel like we can’t talk enough about the mental health program.” 

    Caucus reports delivered by chairmen representing each sector of the tripartite alliance detailed opportunities for improvement, but also praised successes. John Burnett with Chevron, chairman of the owners’ caucus, kicked off the reports noting several areas of importance to improve safety: hands-free standard for bolting, rigging training specific to the type of work to be performed, drug testing policies and concerns about opioid use, ongoing focus on significant injuries and fatalities, and attention to detail in permitting. 

    The owners’ caucus also identified staffing and productivity, quality and access requirements as topics to address.

    “We need more up-front discussions about manpower availability and experience, especially at the local level,” Burnett said. “We need more transparency on per diem to obtain quality craftsmen. And contractors should continue to raise the level of expectations. It’s something the owners are passionate about.”

    Owners had a frank discussion about quality, manpower, availability and experience. Burnett stressed the need for transparency in communicating needs among the owners, contractors and Boilermakers to ensure the best quality of work is produced. 

    Reporting for the contractors’ caucus was chairman Mike Bray, Senior Executive Consultant for Riggs Distler and Company, Inc. The caucus homed in on the need to understand referral rules, the need for open solicitation to man smaller work projects and the need for selectivity. Bray said contractors also want to better understand the M.O.R.E. Work Investment Fund—what’s available to help win work and how to go about utilizing the M.O.R.E. Work program.

    Training was also tops on their list, and Bray called for more or updated confined space training (some jobsites don’t accept MOST programs’ certification), advanced training on robotics, use and care of cordless tooling, and torquing and tension training. Also, he said, training is needed in new technology.

    “With new technology, we really have to train our people to get involved, to get into the scheduling and costing aspects of the business so that we can use Boilermakers on these jobs,” Bray said.

    Anthony Howell, AAIP and Executive Director-Construction Sector Operations, represented the labor caucus as chairman.

    Dovetailing with earlier reports, he began with the issue of travel cost and expenses Boilermakers incur to man projects, and he explained that being able to use per diem to offset those costs could make a big impact on recruiting.

    “It’s the first question they ask before they know anything else about us or the job: What’s the per diem?” he said.

    And, he said, the caucus also identified a need for better communication about the M.O.R.E. Work Investment Fund resources.

    “I spoke with some of the owners yesterday, and they told me how they appreciate how hard Boilermaker business managers and reps worked to respond to their needs,” he said. 

    “Anything that can be done to spread out work is good,” Bray said. “Those who are doing that are getting better manpower fulfillment.”

    The National Association of Construction Boilermaker Employers is 49 years old and continues to evolve by identifying and solving safety concerns. NACBE Executive Director Ron Traxler detailed programs offered by the organization, which was began as the result of tripartite discussions to address issues.

    “We’re like a three-legged stool,” Traxler began. “NACBE remains committed to our partnership. We do have a partnership with the IBB. We are stronger together. We all know that there have been some changes, but that’s what we do, we maximize on our strengths. We are stronger together and we must continue to work together.”

    He noted that combined, 417 years of experiences sits on the NACBE Board of Directors. He stressed the importance of being involved in the organization and its programs, especially those involved with safe working conditions. 

    “Safety is paramount, and we collaborate with MOST to educate and develop programs,” Traxler said. “We all need a safe work environment.”

    MIL OSI USA News –

  • MIL-OSI Global: Evacuating in disasters like Hurricane Milton isn’t simple – there are reasons people stay in harm’s way

    Source: The Conversation – USA – By Carson MacPherson-Krutsky, Research Associate, Natural Hazards Center, University of Colorado Boulder

    Evacuation is more difficult for people with health and mobility issues. Ted Richardson/For The Washington Post via Getty Images

    As Hurricane Milton roared ashore near Sarasota, Florida, tens of thousands of people were in evacuation shelters. Hundreds of thousands more had fled coastal regions ahead of the storm, crowding highways headed north and south as their counties issued evacuation orders.

    But not everyone left, despite dire warnings about a hurricane that had been one of the strongest on record two days earlier.

    As Milton’s rain and storm surge flooded neighborhoods late on Oct. 9, 2024, 911 calls poured in. In Tampa’s Hillsborough County, more than 500 people had to be rescued, including residents of an assisted living community and families trapped in a flooding home after a tree crashed though the roof at the height of the storm.

    In Plant City, 20 miles inland from Tampa, at least 35 people had been rescued by dawn, City Manager Bill McDaniel said. While the storm wasn’t as extreme as feared, McDaniel said his city had flooded in places and to levels he had never seen. Traffic signals were out. Power lines and trees were down. The sewage plant had been inundated, affecting the public water supply.

    Evacuating might seem like the obvious move when a major hurricane is bearing down on your region, but that choice is not always as easy as it may seem.

    Evacuating from a hurricane requires money, planning, the ability to leave and, importantly, a belief that evacuating is better than staying put.

    I recently examined years of research on what motivates people to leave or seek shelter during hurricanes as part of a project with the Federal Emergency Management Agency and the Natural Hazards Center. I found three main reasons that people didn’t leave.

    Evacuating can be expensive

    Evacuating requires transportation, money, a place to stay, the ability to take off work days ahead of a storm and other resources that many people do not have.

    With 1 in 9 Americans facing poverty today, many have limited evacuation options. During Hurricane Katrina in 2005, for example, many residents did not own vehicles and couldn’t reach evacuation buses. That left them stranded in the face of a deadly hurricane. Nearly 1,400 people died in the storm, many of them in flooded homes.

    When millions of people are under evacuation orders, logistical issues also arise.

    Two days ahead of landfall, Milton was a Category 5 hurricane. About 5 million people were under evacuation orders, and highways were crowded.

    Gas shortages and traffic jams can leave people stranded on highways and unable to find shelter before the storm hits. This happened during Hurricane Floyd in 1999 as 2 million Floridians tried to evacuate.

    People who experienced past evacuations or saw news video of congested highways ahead of Hurricane Milton might not leave for fear of getting stuck.

    Health, pets and being physically able to leave

    The logistics of evacuating are even more challenging for people who are disabled or in nursing homes. Additionally, people who are incarcerated may have no choice in the matter – and the justice system may have few options for moving them.

    Evacuating nursing homes, people with disabilities or prison populations is complex. Many shelters are not set up to accommodate their needs. In one example during Hurricane Floyd, a disabled person arrived at a shelter, but the hallways were too narrow for their wheelchair, so they were restricted to a cot for the duration of their stay. Moving people whose health is fragile, and doing so under stressful conditions, can also worsen health problems, leaving nursing home staff to make difficult decisions.

    At least 700 people stayed in chairs or on air mattresses at River Ridge Middle/High School in New Port Richey, Fla., during Hurricane Milton.
    AP Photo/Mike Carlson

    But failing to evacuate can also be deadly. During Hurricane Irma in 2017, seven nursing home residents died in the rising heat after their facility lost power near Fort Lauderdale, Florida. In some cases, public water systems are shut down or become contaminated. And flooding can create several health hazards, including the risk of infectious diseases.

    In a study of 291 long-term care facilities in Florida, 81% sheltered residents in place during the 2004 hurricane season because they had limited transportation options and faced issues finding places for residents to go.

    Some shelters allow small pets, but many don’t. This high school-turned-shelter in New Port Richey, Fla., had 283 registered pets.
    AP Photo/Mike Carlson

    People with pets face another difficult choice – some choose to stay at home for fear of leaving their pet behind. Studies have found that pet owners are significantly less likely to evacuate than others because of difficulties transporting pets and finding shelters that will take them. In destructive storms, it can be days to weeks before people can return home.

    Risk perception can also get in the way

    People’s perceptions of risk can also prevent them from leaving.

    A series of studies show that women and minorities take hurricane risks more seriously than other groups and are more likely to evacuate or go to shelters. One study found that women are almost twice as likely than men to evacuate when given a mandatory evacuation order.

    If people have experienced a hurricane before that didn’t do significant damage, they may perceive the risks of a coming storm to be lower and not leave.

    Video from across Florida after Hurricane Milton shows flooding around homes, trees down and other damage. At least 12 people died in the storm, and more than 3 million homes lost power.

    In my review of research, I found that many people who didn’t evacuate had reservations about going to shelters and preferred to stay home or with family or friends. Shelter conditions were sometimes poor, overcrowded or lacked privacy.

    People had fears about safety and whether shelter environments could meet their needs. For example, religious minorities were not sure whether shelters would be clean, safe, have private places for religious practice, and food options consistent with faith practices. Diabetics and people with young children also had concerns about finding appropriate food in shelters.

    How to improve evacuations for the future

    There are ways leaders can reduce the barriers to evacuation and shelter use. For example:

    • Building more shelters able to withstand hurricane force winds can create safe havens for people without transportation or who are unable to leave their jobs in time to evacuate.

    • Arranging more shelters and transportation able to accommodate people with disabilities and those with special needs, such as nursing home residents, can help protect vulnerable populations.

    • Opening shelters to accommodate pets with their owners can also increase the likelihood that pet owners will evacuate.

    • Public education can be improved so people know their options. Clearer risk communication on how these storms are different than past ones and what people are likely to experience can also help people make informed decisions.

    • Being prepared saves lives. Many areas would benefit from better advance planning that takes into account the needs of large, diverse populations and can ensure populations have ways to evacuate to safety.

    This article has been updated with additional details about Hurricane Milton’s damage.

    Carson MacPherson-Krutsky works for the Natural Hazards Center (NHC) at the University of Colorado Boulder. She receives grant and contract funding for her work at NHC through the National Science Foundation, the U.S. Army Corps of Engineers, the Federal Emergency Management Agency, and other funders.

    – ref. Evacuating in disasters like Hurricane Milton isn’t simple – there are reasons people stay in harm’s way – https://theconversation.com/evacuating-in-disasters-like-hurricane-milton-isnt-simple-there-are-reasons-people-stay-in-harms-way-240869

    MIL OSI – Global Reports –

  • MIL-OSI: NANO Nuclear Energy Executives Scheduled to Present at the Upcoming Mississippi Public Service Commissioners’ Nuclear Summit

    Source: GlobeNewswire (MIL-OSI)

    New York, N.Y., Oct. 14, 2024 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing portable, clean energy solutions, today announced that its Chief Executive Officer and Head of Reactor Development, James Walker, will lead a virtual presentation alongside Founder and Chairman, Jay Yu, at the upcoming Mississippi Public Service Commission Nuclear Summit.

    “A key aspect of the NANO Nuclear story is our participation in the emerging nuclear energy renaissance in the U.S. It is inspiring to see states like Mississippi, in addition to the growing support within the federal government, take the initiative to adopt nuclear-based solutions for their expanding energy needs,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “Advanced reactors, such as NANO Nuclear’s ‘ODIN’ and ‘ZEUS’ microreactors in development, can play a pivotal role in this transition, allowing states to deploy portable, safe nuclear energy solutions where they are most needed. We look forward to engaging with fellow attendees and presenters at the Nuclear Summit to discuss the future of Mississippi’s energy landscape.”

    Featuring prominent speakers such as Jeff Merrifield, Chairman of the U.S. Nuclear Industry Council and former NRC Commissioner, and Mike King, Special Assistant for ADVANCE ACT Implementation at the U.S. Nuclear Regulatory Commission, the Summit will provide a platform to explore safe, reliable, and sustainable energy solutions that benefit Mississippi’s communities and economy.

    The Summit is scheduled for October 22, 2024, from 9:00 a.m. to 3:30 p.m. in Jackson, MS. All interested parties are welcome and encouraged to register at ww.psc.ms.gov. “Mississippi has the potential to be a leader in nuclear energy, and this summit will serve as a proactive platform for meaningful dialogue. The Mississippi Public Service Commission is grateful to have an industry leader such as NANO Nuclear Energy take part in the summit.” stated the Commissioners.

    Figure 1 – NANO Nuclear Energy Inc. Executives to Present at the Mississippi Public Service Commission’s Nuclear Summit 2024.

    “We are excited to participate in this Nuclear Summit and support Mississippi in achieving its goals of a sustainable, secure, and efficient energy future powered by advanced nuclear technologies,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “Our participation in this important event alongside key representatives of the United States nuclear energy sector is a testament to our continuing networking efforts. The support of both federal and state governments is crucial in accelerating this shift to more sustainable energy solutions, and we are pleased to contribute to discussions on how advanced nuclear technologies and our own microreactors can play a key role in achieving this goal.”

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across four business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation and (iv) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s products in technical development are “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206
    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:
    NANO Nuclear Energy LINKEDIN
    NANO Nuclear Energy YOUTUBE
    NANO Nuclear Energy TWITTER

    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release or the Mississippi Nuclear Summit described herein contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including relating to the potential for nuclear energy innovation and expansion in Mississippi) related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the business of a start-up business operating a highly regulated industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and the NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at http://www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Samsung Galaxy Ring, S24 Ultra and Z Flip6 Power Red Bull Rampage

    Source: Samsung

    Samsung Galaxy’s collaboration with Red Bull continued this month with the premier big mountain freeride mountain biking event, Red Bull Rampage, including the first ever all-female competition. Each rider and their team faced a daunting task: they had eight days to construct the lips, landings, and lines needed to travel from the top of the mountain to the finish line, with only water, hand tools, and 75 sandbags.
    Previously, the impact of this grueling challenge could only be described in words. Now, with the help of Galaxy Ring, teams tracked the physical and mental readiness of their riders daily prior to and during the event and received personalized recommendations on how to improve their routine. When the competition kicked off, Galaxy S24 Ultra captured the heart-pumping race and all its electric moments. Galaxy Z Flip6 also helped athletes capture their own practice sessions using FlexCam – no tripod or help needed to capture the perfect shot.

    “Galaxy Ring and Galaxy Smartphones just highlighted yet another example of how innovative devices can offer thrilling experiences” said Simon Callan, Head of Partnerships at Samsung Electronics America. “Red Bull Rampage was the perfect opportunity to show off Galaxy S24 Ultra’s stunning camera as well as Galaxy Ring’s groundbreaking features — from sleep analysis to Wellness Tips — which supports athletes’ recovery time by offering personalized advice based on their sleep, activity, and more.”
    Red Bull competitions are synonymous with daring challenges and Galaxy Ring kept up with world-class athletes, Casey Brown and Kurt Sorge, all day and night. In the eight-day lead-up to the competition, each rider and team was hard at work envisioning and creating the best path down the mountain. Throughout this process, Galaxy Ring tracked activity levels, sleep quality, and so much more — delivering a daily Energy Score that encapsulated their rider’s readiness. Teams used these scores to determine how much rest their rider needed to ensure peak performance on race day. During the competition, these daily scores were shared on the broadcast, highlighting the impact of the preparation, and how Galaxy Ring’s personalized tips provided the competitors with the tools they needed to succeed.

    “The minimalist design of the Galaxy Ring is perfect for my lifestyle. I can’t believe how much technology they fit into such a small piece of jewelry, which helped inform my recovery,” said Casey Brown. “I don’t even notice it during my daily activities, like digging or riding my bike. I can even sleep with it on without noticing it’s there.”
    Red Bull Rampage was filled with excitement from start to finish — featuring jaw-dropping action, close races, and iconic victories. To capture these memorable moments, Galaxy S24 Ultra’s 200MP camera was on hand. Powered by the innovative ProVisual Engine, Samsung Galaxy’s comprehensive suite of AI-powered tools, Galaxy S24 Ultra was prepared for anything. That included capturing riders at the top of the mountain using 100x magnification or taking advantage of its groundbreaking Nightography enhancements — allowing for crystal-clear photos from the early morning to late at night.
    For more information about Samsung’s latest devices, including Galaxy S24 Ultra and Galaxy Ring, visit Samsung.com.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Record-breaking International Investment Summit secures £63 billion and nearly 38,000 jobs for the UK

    Source: United Kingdom – Executive Government & Departments

    Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around today’s International Investment Summit.

    • Total of £63 billion of private investment committed around International Investment Summit, more than doubling amount secured at 2023 Global Investment Summit
    • New investments today include £6.3 billion in UK data centres as well as world class UK university Imperial College London
    • Innovative investment projects announced over the last month across infrastructure, renewables and life sciences will create close to 38,000 new jobs across the UK

    Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around today’s International Investment Summit, turbocharging growth and innovation across the country. 

    The record-breaking total figure more than doubles the £29.5 billion committed at last year’s Global Investment Summit and spans partnerships across the infrastructure and tech sectors, including over a billion pounds in new investments announced today by DP World, Associated British Ports (ABP) and Imperial College London. 

    Through serious, stable governance, the UK is attracting tens of billions of pounds of new investment which is crucial to the government’s driving mission of delivering economic growth. Today’s historic figure demonstrates that businesses have confidence in Britain as a place to invest. 

    The investments follow immediate action taken by the new government to reform planning, focus on AI and data centre expansion, and set a clear commitment to net zero by almost doubling the funding for renewable energy projects. 

    Four major tech firms based in the US have today announced £6.3 billion in UK data centres which is critical to enhancing the UK’s AI capacity – in turn fuelling Britain’s economic growth and spurring on AI development. Data centres store the vast amount of information and data needed to power AI, and store the information generated by AI to keep the systems running. 

    ABP, the UK’s largest port operator, has committed over £200 million to a joint investment with ferry company Stena Line in a new freight ferry terminal at the Port of Immingham, significantly boosting the capacity and resilience of UK trade with Europe. It is expected to create around 700 jobs during construction and around 200 permanent jobs once operational. 

    Leading UK university Imperial College London is also today announcing a £150 million investment to secure a new R&D campus to add to its rapidly expanding deep tech ecosystem in West London. The new campus will expand scale-up capacity in the WestTech Corridor, supporting the UK’s innovation sector and driving investment, economic growth and job creation. 

    Business and Trade Secretary Jonathan Reynolds said:

    Global investors should be in no doubt that under this new government Britain is truly the best place to do business. The record-breaking investment total secured at today’s Summit marks a major vote of confidence in the UK and our stability dividend across industry and innovation.

    We’re determined to deliver economic growth in every part of the UK and these investments, together with our forthcoming Industrial Strategy, will give global businesses the certainty they need as we lead the charge for the innovation and jobs of the future.

    Chancellor of the Exchequer Rachel Reeves said:

    After the investments secured as part of this summit, my optimism for Britain burns brighter than ever. It’s a sign of the confidence in the British economy. And it matters because it will support the growth of businesses big and small across the U.K. Helping them create new jobs and making people better off.

    CEO of ABP Henrik L. Pedersen said:

    We are delighted that the Development Consent Order (DCO) for the Immingham Eastern Ro-Ro Terminal (IERRT) has been granted in a timely way by the Secretary of State to allow us to move forward with investment. The IERRT project is a key component of our strategy to strengthen the UK’s supply chains and improve trade connectivity, whilst also bringing substantial economic benefits including the creation of hundreds of jobs during construction and ongoing operations. IERRT forms part of the intended £5.5bn pipeline of UK investment we have in front of us over the next 10 years and we look forward to working closely with the Government to deliver the right conditions to realise this investment.

    President of Imperial College London Hugh Brady said:

    Imperial College London is investing in its ambitious vision for a new globally competitive deep tech innovation ecosystem in West London. The Imperial WestTech Corridor will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level supported by the Government’s emerging Industrial Strategy.

    Please see below for a list of all the investments announced in the run-up to and during today’s International Investment Summit:

    • Iberdrola doubling their investment in the UK, through Scottish Power, from £12 billion to £24 billion over the next 4 years. This includes £4 billion for the East Anglia 2 wind farm off the Suffolk coast which was unlocked by this Government’s expanded allocation at the most recent wind auction round. Iberdrola Executive Chairman Ignacio Galan CBE confirmed on Friday that the UK has become their largest Investment destination. 

    • Blackstone confirmed a £10 billion investment in Blyth, Northumberland to create one of the largest artificial data centres in Europe, creating 4,000 jobs, including 1,200 roles dedicated to the construction of the site. 

    • Amazon Web Services announced an £8 billion investment last month which is estimated to support around 14,000 jobs per year at local businesses, including those across the company’s data centre supply chain such as construction, facility, maintenance, engineering and telecommunications. 

    • CCUS investors (including Eni, BP and Equinor) reached a commercial agreement with the government that will unlock £8 billion of private investment to launch carbon capture clusters in the heartlands of the North West and North East of England, directly creating 4,000 jobs and supporting 50,000 jobs in the long-term. 

    • Orsted and Greenvolt confirming that the Government’s recent expanded offshore wind auction means their projects will unlock £8 billion (Orsted) and £2.5 billion (Greenvolt) of investment respectively in their planned offshore wind farms. Orsted says its commitment will see thousands of jobs for local people, while Greenvolt says it will create up to 2800 construction jobs.  

    • CyrusOne, a leading global data centre developer headquartered in the United States, announced plans to expand their investment into the UK to £2.5 billion over the coming years. Subject to planning permission, the two data centres should be operational by Q4 2028, projected to create over 1,000 jobs both directly and within its immediate design and construction value chain.   

    • Octopus Energy have committed to a £2 billion investment in renewable energy generation, including four new solar farms in Bristol, Essex, East Riding of Yorkshire and Wiltshire that will power up to 80,000 homes as well as breaking ground on a new 12 MW battery in Cheshire which Octopus say will store enough power for nearly 10,000 homes every day. 

    • SeAH Wind has made an additional £225 million investment into wind technology manufacturing in Teesside, thanks to new backing from UK Export Finance, and expects to create 750 direct jobs by 2027. This brings their total investment into the site at Teesworks up to £900 million and will help them make their ongoing factory build – one of the biggest facilities of its kind worldwide – even bigger. 

    • CloudHQ is developing its new state-of-the-art £1.9 billion data centre campus in Didcot. The hyper-scale data centre is currently in development and will help meet the UK’s growing demand for AI and machine learning. It will create 1,500 jobs during construction, and 100 permanent jobs once fully operational.  

    • Macquarie supporting investment of £1.3 billion into new green infrastructure including its Island Green Power solar farm in Stow, as a result of planning consents having been granted by the Government, and its Roadchef portfolio company installing electric car ultra-fast charging points across its sites along the UK motorway network. 

    • ServiceNow also confirmed its commitment to the UK market, with plans to invest £1.15 billion into its UK business over the next five years. The investment will not only support the future development of AI in the UK, expanding its data centres with Nvidia GPUs for local processing data, but also support new office space as the company significantly grows into employee base beyond its current headcount of 1,000 employees.  

    • Manchester Airports Group is investing more than £1.1 billion in London Stansted Airport to expand its existing terminal by around a third, help secure new air routes to key business and leisure destinations, boost local supply chains and create 5,000 jobs. This includes around £600 million to extend the terminal and £500 million to deliver a suite of improvements to the existing terminal building and wider airport estate. 

    • Eren Holdings confirmed a £1 billion investment in the redevelopment of Shotton Mill in Deeside, North Wales which is set to become the UK’s largest recycled paper manufacturing campus. This is expected to safeguard 147 jobs and create a further 220 when the site is fully commissioned. 

    • Network Rail and London & Continental Railways are creating a new property company which will attract additional private and public sector investment with the potential to deliver brownfield regeneration schemes across the rail estate with a value exceeding £1 billion. 

    • CoreWeave is building on its £1 billion investment announced in May and the opening of its European headquarters in London by investing a further £750 million-plus in the UK to support the demand for critical AI infrastructure. The investment in the UK is CoreWeave’s second largest investment in a country following the USA.  

    • DP World are investing up to £1 billion in their London Gateway container port operation. This new investment will fund two additional berths and a second rail terminal. Once built, the berths will add vital transport capacity and increase the resilience of UK supply chains, enabling businesses to access domestic and international markets and supporting the Government’s growth and decarbonisation missions. 

    • Holtec, a major US advanced nuclear engineering company, has confirmed a significant investment of £325 million in a new factory in South Yorkshire which will supply materials for civil and defence nuclear industries. They say this will create up to 490 direct and 280 indirect jobs annually during the construction phase and 1,200 direct engineering jobs created over 20 years. 

    • BW Group proceeding with a £500 million investment, which includes new battery energy storage projects in Hampshire and Birmingham. 

    • Eli Lilly and Company is collaborating with government through a memorandum of understanding which will see the pharmaceutical giant intending to commit £279 million to tackle significant health challenges – including obesity. Lilly also plans to launch the first ‘Lilly Gateway Labs’ innovation accelerator in Europe to support early-stage life sciences businesses to develop transformative medicines and technologies. 

    • Associated British Ports (ABP), the UK’s largest port operator, has announced a £200+ million investment in a new freight ferry terminal at the Port of Immingham, boosting the capacity and resilience of UK trade with Europe. This is expected to create around 700 jobs during construction and 200 permanent jobs once operational. 

    • Imperial College London investing £150 million to build The WestTech Corridor – a new innovation ecosystem in West London which will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level. 

    • Haleon has received planning permission to develop a new £130 million Global Oral Health Innovation Centre in Weybridge, Surrey. This state-of-the-art facility will primarily support Haleon’s global oral health business by developing new products that advance consumers’ better everyday health. 

    Background 

    • The International Investment Summit is being sponsored by Barclays, HSBC, Lloyds, M&G plc, Octopus Energy, and TSL.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Have your say: Working age council tax support scheme consultation launches

    Source: City of Portsmouth

    Have your say on possible changes to Portsmouth’s Council Tax Support Scheme for working age residents from next year.

    No changes are being made to the council tax support scheme for pension-aged residents.

    A consultation running for eight weeks is now live until Monday 9 December. Complete the consultation online.

    Council Tax Support is a scheme to help some people pay their council tax. The amount of support people can get depends on their income and personal situation.

    The proposal being considered by Portsmouth City Council seeks to change the scheme to provide more financial help for those on the lowest incomes. The change would see many of the approximately 7,500 working-age people claiming council tax support in Portsmouth automatically receive an increase, without having to apply.

    Portsmouth’s Local Council Tax Support (LCTS) scheme, adopted in 2013, was and continues to be based upon a now outdated means-tested ‘benefit’ scheme. Due to central government funding cuts, everyone receiving support from the working age council tax support scheme is currently required to pay at least 20% of their council tax bill, including those on the lowest incomes.

    The consultation asks for people’s views on introducing a new banded scheme for working aged people from 1 April 2025. It would mean individuals and families would receive different levels of council tax support depending on which of the four proposed income bands they are in.

    The change would simplify the application process, increase LCTS take up, and reduce the current frequent reassessment of council tax bills to give most people greater financial stability.

    The change would see the council tax contribution from those on the lowest incomes reduce from 20% to 10%, helping to support those most in need with the cost of living. The discount would reduce for those with higher incomes.

    It’s estimated that just over 74% of working age claimants would either benefit or see no change under the new scheme.

    Leader Cllr Steve Pitt said:

    “It’s estimated that the government underfunds the council’s local council tax support scheme by over £4m per year and because of the strain on our finances, there’s no perfect option for changing our council tax support scheme where everyone benefits.

    “To do so would add additional financial burdens that the council is not in a position to meet. What we are considering is a change that would help by far the most people and crucially those on the very lowest incomes, at a time when there’s no respite from high living costs.

    “We know people may have differing views on these proposals and we want as many people as possible to share them with us by taking part in our consultation. No change will be made until we have carefully considered every opinion submitted to our survey.”

    Each year councils are required to review their council tax support schemes, and currently around 100 local authorities, nearly a third, operate banded schemes similar to the one Portsmouth is considering moving to.

    The proposal would have no impact on pension-age claimants of the scheme, which offers pensioners up to 100% towards their council tax bill.

    Cost of living support for Portsmouth residents

    Portsmouth Older Persons Energy Payment, one-off payment of either £200 or £300 launching soon for low-income pensioners who will miss out on the government’s Winter Fuel Payment. It’s open to pension-age Portsmouth households who receive either Housing Benefit or Council Tax Support but don’t receive Pension Credit. Find out more and complete a form for us to contact you when it opens: Portsmouth Older Persons Energy Payment – Portsmouth City Council

    Household Support Funding, the council is reviewing how it will allocate the latest round of Household Support Funding and will be announcing schemes and how to apply at Household support fund – Portsmouth City Council

    The Cost-of-living helpline and online information hub, for help around essential costs, health and wellbeing, jobs, money and housing, and hardship funding people can apply for. The helpline is open weekdays from 9am-5pm (closes 4.30pm Fridays) on 023 9284 1047, or visit: http://www.portsmouth.gov.uk/cost-of-living-hub

    Switched On Portsmouth, for help reducing energy bills, including referring to energy saving scheme and offering free advice. Call on 0800 260 5907 or visit http://www.switchedonportsmouth.co.uk

    MIL OSI United Kingdom –

  • MIL-OSI USA: Biden IRA, Dept of Energy funding restarts Michigan’s Palisades Nuclear, boosting Boilermaker jobs

    Source: US International Brotherhood of Boilermakers

    Thanks to President Biden, Governor Whitmer and the Democratic policies, union Boilermakers at Local 169 are being rewarded with work opportunities that would otherwise not exist. And because of policies championed by the Democratic party, such as the Davis-Bacon Act, employees on site must receive prevailing wages, which protects union workers and provides opportunities for union contractors.

    Bob Hutsell, Local 169, Detroit, BM-ST

    Read more about the Palisades Nuclear project from CNBC. 

    When the Palisades Nuclear Plant in southern Michigan was mothballed in May 2022 after more than 40 years of commercial operation, it seemed the decommissioning was likely permanent.

    Just two years later in an “about face,” nuclear is regaining favor as a clean, efficient energy producer, and the plant has attracted an infusion of government funding that puts Palisades on track for a restart as early as the end of next year.

    Palisades owner, Holtec International, credits Michigan Governor Gretchen Whitmer for taking the initial action to help the plant return to service, noting that Whitmer made it a priority and signed bipartisan legislation that provided state funding and supported Holtec’s application for federal financing. Whitmer pushed for and secured $150 million in state funding for the plant’s re-opening. Another $150 million was later invested.

    According to the Holtec’s website, plans are in motion for repowering the facility, “Thanks to the groundswell of support from the State of Michigan and the U.S. Department of Energy… Getting Palisades back online gives Michigan a clean, reliable, safe source of continued energy. It provides hundreds of jobs to the community, as well as extended economic benefits for the region.”

    The Biden Administration’s Inflation Reduction Act provided an additional $1.5 billion to recommission the plant.  

    “Thanks to President Biden, Governor Whitmer and the Democratic policies, union Boilermakers at Local 169 (Detroit) are being rewarded with work opportunities that would otherwise not exist,” said L-169 Business Manager/Secretary-Treasurer Bob Hutsell. “And because of policies championed by the Democratic party, such as the Davis-Bacon Act, employees on site must receive prevailing wages, which protects union workers and provides opportunities for union contractors.”

    There are currently 22 Local 169 Boilermakers working at the Palisades site, and with the future work and proposed construction of two new modular units, Hutsell expects 60 Boilermakers will be on site.

    Palisades is planning to install two modular nuclear units once the recommissioning is complete.

    As of December 2023, Holtec had begun its program to build its first two SMR-300 reactor units at Palisades. The existing Palisades plant, refurbished with an array of enhancements, is on track to be restarted by the end of 2025 and is designed to provide decades of safe and reliable service. The addition of two SMRs near the existing 800-MW plant will nearly double the Michigan site’s total carbon-free generation capacity.

    On their website, Holtec stated: “A restart of Palisades could mark a turning point for the nuclear industry after a decade in which a dozen reactors have shut down across the country.”

    Palisades is being credited as the catalyst for the recent announcement from Constellation on restarting Pennylvania’s Three Mile Island Unit 1, which provides Boilermaker work for Local 13 (Philadelphia).

    MIL OSI USA News –

  • MIL-OSI Global: How to make sure the budget secures the investment Britain needs

    Source: The Conversation – UK – By Linda Yueh, Fellow in Economics/Adjunct Professor of Economics, University of Oxford

    Growth won’t happen without greater investment. I Wei Huang/Shutterstock

    Prime Minister Keir Starmer has promised to “rip out the bureaucracy that blocks investment” in the UK. He was speaking at his government’s first international investment summit, an attempt to encourage the finance and business worlds to put more money into the country.

    But the government will need much more investment – by both the private and public sectors – than can be drummed up with one summit and an intent to slash red tape if it is to meet its economic goals. So Labour’s upcoming first budget on October 30 presents a vital opportunity to lay the foundations for an investment boost over the coming years.

    A major, long-term aim is to get the UK’s annual growth back to its pre-2008 banking crisis rate, when it was around 2% a year. The UK has been growing at about half that rate since then.

    This slower economic growth has damaged people’s living standards as well as the tax receipts the government needs to fund public services, particularly since the pressures of the COVID pandemic.

    Slow growth could be turned around by increasing investment in things like infrastructure. The UK has lagged behind comparable economies in this regard – it has had the lowest rate of investment in the G7 group of major economies for 24 of the last 30 years.

    Last year, the UK’s GDP per capita (a measure of the average income) was nearly £11,000 lower than it would have been had the economy continued to grow at its pre-2008 rate.

    Rather unusually, despite the UK’s debt recently reaching 100% of GDP – the highest amount in more than half a century – the usually fiscally conservative International Monetary Fund (IMF) has said the UK should consider focusing on investment. This, it says, could potentially boost GDP growth and thus stabilise the debt-to-GDP ratio.

    And the UK’s spending watchdog, the Office for Budget Responsibility (OBR), believes it is possible to raise economic growth through more investment. The OBR estimates that a sustained 1% of GDP increase in public investment could increase the level of potential national output by just under 0.5% after five years, and around 2.5% in 50 years.

    So, there will undoubtedly be a number of investment measures in the Budget. But how many depends, in part, on whether the chancellor, Rachel Reeves, revises some restrictions on borrowing, known as the fiscal rules. There could be adjustments such as offsetting government debt with its assets, including student loans. Reeves is reportedly looking at this possibility – which could create as much as £50 billion of additional fiscal headroom.



    Read more:
    The chancellor has tied her own hands with her fiscal rules – here’s why she should change them

    She could also re-institute the previous Labour government’s golden rule: only borrow to invest. This could separate out capital investment (spending on things like roads and other infrastructure), which is needed to support long-term growth, from day-to-day spending on public services. It would also increase the transparency of what the borrowing is for, and whether it can deliver growth that can help stabilise the debt-to-GDP ratio.

    These changes would prevent public investment from being cut in order to meet one of the current fiscal rules Reeves is adhering to. That is, that debt must be falling as a percentage of GDP over a rolling five-year period. As it stands, this rule restricts how much Reeves can borrow – even if that is what the country needs to grow economically.

    A change to this rule could help the government fund its two new initiatives to promote public investment: the National Wealth Fund, which requires just over £7 billion over the parliament, and GB Energy, which needs about £8 billion.

    Convincing investors

    Investments in the National Wealth Fund and GB Energy could further raise economic growth by “crowding in” private investment. For example, investing in infrastructure like a road entices private firms to invest too, perhaps in new premises or more staff, because a better transport link will make these firms’ investments more profitable.

    The government’s aim is to bring in three times the public investment in the National Wealth Fund to invest in infrastructure and key sectors. GB Energy likewise intends to bring in private investors to support the green transition that can generate new output and jobs.

    But targeting growth will take more than just finding the money. It also requires a regulatory approach and planning system that generates confidence among private investors to put their money in alongside the government.

    The impending Budget won’t set out all of the details that investors are looking for, but they will expect to see the growth strategy and assess whether it is credible. For instance, successive governments have struggled with planning reform, so investors will be justified in wondering what will be different this time.

    Rachel Reeves could potentially give herself an extra £50 billion to spend if she changes the fiscal rules.
    Fred Duval/Shutterstock

    Investors will also be on the lookout for a more certain regulatory regime over several years. The main impediments to investment tend to be uncertainty, including over regulation and planning, as well as being able to find workers with the right skills. This Budget is an opportunity to set out what the government plans to do in both areas over its five-year parliament.

    One positive signal to investors would be if the Budget sets out a broad definition of “capital”. For physical capital like a factory to be properly used, it requires people (human capital). And we hear a lot about green assets and digital assets, which essentially means that capital can be physical, human or green, as well as digital.

    By outlining its policies around infrastructure and skills, as well as its environmental and digital policies, any proposed growth strategy would be more holistic and likelier to have a positive impact on growth.

    But the difference between a strategy and a great strategy is in its execution. The Budget will almost certainly set out various fiscal policies to support growth. But the ability to deliver this strategy will determine whether it is truly a budget for growth.

    Linda Yueh does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. How to make sure the budget secures the investment Britain needs – https://theconversation.com/how-to-make-sure-the-budget-secures-the-investment-britain-needs-241074

    MIL OSI – Global Reports –

  • MIL-OSI USA: FACT SHEET: Biden-⁠ Harris Administration Continues Recovery Efforts in North Carolina Following Hurricane  Helene

    US Senate News:

    Source: The White House
    Following Hurricane Helene’s devastating impacts across the Southeast and Appalachia, the Biden-Harris Administration continues its robust Federal efforts to help communities recover and rebuild. The storm heavily impacted North Carolina, where the Administration continues to surge resources and assist families, business owners, farmers, and other impacted communities receive the support and assistance they need and deserve.
    Federal disaster assistance for Hurricane Helene survivors has surpassed $474 million – including more than $86 million in housing and other types of assistance for survivors in North Carolina. Survivors can register for assistance at one of three Disaster Recovery Centers in Caldwell, McDowell, and Buncombe Counties, or on disasterassistance.gov, by calling 1-800-621-3362, or via the FEMA app.
    The Department of Defense continues to support search-and-rescue operations, route clearance, and commodities distribution across western North Carolina with 1,500 active-duty troops. The Department of Defense is also employing additional capabilities to assist with increasing situational awareness across the remote terrain of Western North Carolina. The Army Corps of Engineers continues missions supporting debris removal, temporary emergency power installation, infrastructure and water and wastewater assessments, and technical assistance. Over 2,000 North Carolina National Guard personnel along with over 200 Guardsmen from 15 States are conducting response operations in western North Carolina.
    As response efforts continue in North Carolina, more than 1,250 FEMA staff remain on the ground, with more arriving daily. Nearly 400 Urban Search and Rescue personnel remain in the field helping people. These teams have rescued or supported over 3,200 survivors to date.  
    Power has been restored to more than approximately 96 percent of customers, as a result of 10,000 utility personnel working around the clock. Cellular restoration also continues to improve, with more than 93 percent of cellular sites in service. FEMA is boosting response coordination by providing 40 Starlink units to ensure first responders can communicate with each other.
    Commodity distribution, mass feeding, and hydration operations continue in areas of western North Carolina. FEMA continues to send commodity shipments and voluntary organizations are supporting feeding operations with bulk food and water deliveries coming via truck and aircraft. Mobile feeding operations are reaching survivors in heavily impacted areas, including three mass feeding sites in Buncombe, McDowell and Watauga counties. The Salvation Army has 20 mobile feeding units supporting this massive operation and has provided emotional and spiritual care to survivors. To date, the American Red Cross is engaging in targeted distribution of emergency supplies in low-income communities with high levels of minor or affected residential damage.
    Additional recovery efforts in North Carolina include:
    Supporting Infrastructure Recovery
    As part of the robust, whole-of-government response to Hurricane Helene, the U.S. Department of Transportation is supporting response and recovery efforts in impacted communities in North Carolina. DOT personnel are on the ground in multiple locations of the state.
    On October 5, the Department of Transportation’s Federal Highway Administration (FHWA) announced $100 million in Quick Release Emergency Relief funding to support North Carolina. The funding helps pay for the costs of immediate emergency work resulting from Hurricane Helene flood damage. Additional funding will flow to affected communities from the Emergency Relief program.
    FHWA worked closely with North Carolina and other federal agencies to assess infrastructure damage, including supporting hundreds of bridge inspections and other critical infrastructure assessments across the Southeast. On October 8, FHWA Acting Administrator Kristin White visited the region with Governor Roy Cooper, North Carolina Department of Transportation Secretary Joey Hopkins and other federal, state and local officials and got a first-hand look at impacts from the storm and recovery efforts.   
    The Federal Aviation Administration (FAA) continues to work with partners in affected parts of North Carolina and Tennessee, as the national airspace steadily returned to normal operations.
    The FAA Air Traffic Organization Technical Operations Team is on-site and leading communications restoration efforts at air traffic facilities. FAA also supported the North Carolina Air National Guard by providing advisory services at Rutherford County Airport and Avery County Airport.
    The FAA worked with state and local governments, critical infrastructure owners and operators, and first responders to enable drones to support response and recovery. The FAA granted permission to allow Wing to temporarily conduct beyond visual line of sight drone package deliveries for Walmart’s pharmacy in western North Carolina, delivering essential items including prescription medicine, medical supplies, and medical equipment to hard-to-reach locations.
    Additionally, President Biden’s approval of a Presidential Emergency Declaration for North Carolina affords the state a period of emergency regulatory relief from Federal Motor Carrier Safety regulations, including flexibility around driving time for property- and passenger-carrying vehicles. This allows truck drivers to get essential supplies to affected areas in North Carolina. It may also provide opportunities for motorcoach buses to deliver relief teams to response locations and allow for the transport and evacuation of residents.
    On October 10, Environmental Protection Agency (EPA) Administrator Michael Regan joined Governor Cooper, Senator Tillis, Congressman Edwards and local officials to assess federal and state recovery efforts in response to Hurricane Helene. EPA and its state partners have made significant progress bringing drinking water and wastewater systems back online, including restoring service to more than 75 drinking water systems that serve approximately 260,000 people in the Asheville area. EPA is also providing technical assistance and drinking water testing to systems and private drinking water well owners across the Asheville area through their Mobile Drinking Water lab – giving residents clear data and confidence that their water is safe to drink. The lab is capable of testing 100 samples per day. Water utilities and private well owners must request sampling services through their local health departments. EPA will remain on the ground in North Carolina helping area residents as long as their assistance is needed.  
    The Department of Energy’s Energy Response Organization remains activated to respond to storm impacts, and responders remain deployed to FEMA regional response coordination centers. Via the Electricity Sub-Sector Coordinating Council and Oil and Natural Gas Sub-Sector Coordinating Council, the Department of Energy has been coordinating continuously with energy sector partners on the ongoing Hurricane Helene response. As noted above, there are 10,000 line workers supporting power restoration efforts.
    The National Oceanic and Atmospheric Administration continues to support post-disaster imagery flights following Hurricane Helene, already totaling over 68 flight hours during 20 flights, including over western North Carolina. This imagery not only supports FEMA and the broader response community, but the public at large.
    Providing Financial Flexibilities to Homeowners and Taxpayers
    The U.S. Department of Housing and Urban Development (HUD) is providing a 90-day moratorium on foreclosures of mortgages insured by the Federal Housing Administration (FHA) as well as foreclosures of mortgages to Native American borrowers guaranteed under the Section 184 Indian Home Loan Guarantee program. Additionally, affected homeowners that have mortgages through Government-Sponsored Enterprises – including Fannie Mae and Freddie Mac – and the FHA are eligible to suspend their mortgage payments through a forbearance plan for up to 12 months.
    HUD announced $3 million for the State of North Carolina to support people experiencing homelessness in communities impacted by Hurricane Helene. Funding from the Rapid Unsheltered Survivor Housing program will help residents and families who are experiencing or at risk of homelessness and have needs that are not otherwise served or fully met by existing Federal disaster relief programs.
    This summer, HUD launched a new streamlined process for requesting additional flexibility on existing grants after a disaster is declared. Recipients of annual HUD funding – including in North Carolina – may request waivers to unlock and accelerate the use of their funding for disaster response and recovery. With the updated waiver process, HUD is proactively issuing maximum flexibility to communities impacted by disasters. These flexibilities will expedite the recovery process, reduce administrative burden, and allow impacted jurisdictions to quickly tailor programs and activities to address the post disaster needs of their communities. The Disaster Assistance and Recovery Team within HUD’s Office of Housing Counseling continues to conduct focused meetings with housing counseling agencies in each state impacted by these disasters to discuss their unique response and recovery challenges and identify resources available to assist.
    The Internal Revenue Service announced disaster tax relief for all individuals and businesses affected by Hurricane Helene in North Carolina. North Carolina taxpayers now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.
    Protecting Public Health
    The U.S. Department of Health and Human Services (HHS) declared a Public Health Emergency for North Carolina to address the health impacts of Hurricane Helene. HHS’s Administration for Strategic Preparedness and Response (ASPR) continues to provide medical support for Hurricane Helene, predominantly onsite in North Carolina. These ASPR personnel are deployed to support Hurricane Helene response operations, which include four Disaster Medical Assistance Teams and personnel from a Disaster Mortuary Operational Response Team (DMORT) in North Carolina. ASPR Health and Medical Task Forces and ASPR Disaster Medical Assistance Teams from the National Disaster Medical System are providing 24-hour surge support to three hospitals: Mission Hospital in Asheville, Blue Ridge Regional Hospital in Spruce Pine, and Caldwell Memorial in Lenoir. To date, ASPR teams have seen nearly 1000 patients. ASPR will continue to work with federal, state, and local partners to prioritize medical assistance to other areas affected by Hurricane Helene as required and requested.  
    Supporting Workers and Worker Safety
    Working alongside the Department of Labor, the States of North Carolina has announced that eligible workers can receive federal Disaster Unemployment Assistance to compensate for income lost directly resulting from Hurricane Helene. And, through the Department of Labor’s innovative partnership with the U.S. Postal Service, displaced workers in North Carolina can now go to the post office in any other state and verify their ID for purposes of getting their benefits quickly.
    Supporting Farmers and Agriculture
    The U.S. Department of Agriculture (USDA) has put contingency plans and program flexibilities into place to ensure farmers, foresters and communities are able to get the support they need, such as by extending program signup opportunities, expediting crop insurance payments, and using waivers and emergency procedures to expedite recovery efforts on working lands. USDA’s Food and Nutrition Service has issued flexibilities and waivers for North Carolina to ensure that food and nutritional assistance reaches those in need as soon as possible. In North Carolina, waivers have been issued to increase access to WIC products, replace benefits through Summer EBT, allow the purchase of hot foods through SNAP, and more.
    Additionally, USDA is currently coordinating over 200 staff on the ground in North Carolina, including saw support teams and emergency road clearance teams, to help clear trees and debris, including in Waterville, Marion, Newton, and Weaverville.
    Supporting Students and Student Loan Borrowers
    The Department of Education has offered technical assistance to states and local educational agencies to support recovery efforts and shared critical resources, including those developed by other federal agencies and organizations, to support restoring the teaching and learning environment.
    The Department’s office of Federal Student Aid (FSA) has flexibilities that are automatically available to affected institutions of higher education to help their continued management of the federal student aid programs. These flexibilities help schools if they need to adjust their academic calendars, such as due to unexpected closures, and also help students who may need to take a leave of absence. The flexibilities also help students avoid reductions in their federal aid due to any state or federal disaster assistance provided. FSA will also work with affected institutions that need help on other areas, such as paying credit balances. FSA has communicated with schools located in the areas impacted by Hurricane Helene. Those communications included existing Department guidance about how natural disasters impact schools and their administration of financial aid, resources, and links to FEMA disaster aid information. FSA’s communications also included a way for schools to share more information about the disaster impact on their campus and submit questions about administrative relief and flexibilities.
    The Department is ensuring affected borrowers in areas impacted by the hurricanes can focus on their critical needs without needing to worry about missing their student loan payments. Direct Loan borrowers and federally-serviced FFEL borrowers in the affected area who miss their payments will be automatically placed into a natural disaster forbearance. During forbearance, payments are temporarily postponed or reduced, and interest is still charged. Thanks to regulations issued by the Biden-Harris Administration, months in this forbearance will count toward PSLF and IDR forgiveness. Direct Loan and federally serviced FEEL borrowers are not required to take an action but have the option to call their servicer if they wish to enroll in the forbearance proactively. Perkins loan borrowers should contact their loan holder to request natural disaster forbearance. 
    Continuing to Survey Data
    The Department of the Interior’s U.S. Geological Survey (USGS) continues working to measure river levels and flow, and repair streamgages that transmit critical data. USGS crews continue working to determine the extent of flooding by surveying for high-water marks. These flood-peak data and high-water marks are used to determine flood frequency and are critical in the design of infrastructure and in determining flood plain boundaries. USGS stood up a landslide response team that now includes 32 USGS scientists, 19 of which ware mapping landslides, to provide technical assistance to the North Carolina Geological Survey and Tennessee Geological Survey. Their work includes reconnaissance using satellite imagery, flights, and on-the-ground assessments to map landslides.

    MIL OSI USA News –

  • MIL-OSI USA: Remarks by President  Biden on the Response to Hurricane Milton | St. Pete Beach,  FL

    US Senate News:

    Source: The White House
    Residential AreaSt. Pete Beach, Florida
    11:34 A.M. EDT
    THE PRESIDENT:  Hello, folks. 
    I just met a number of the homeowners, been wiped out, and the — everything from the Coast Guard to the fire department.  It’s a hell of a deal.
    I’m here in Florida for the second time in two weeks and — to survey the damage from another catastrophic storm: Hurricane Milton.  Thankfully, the storm’s impact was not as cataclysmic as had — we had predicted.  But on top of two [one] before it, it just keeps s- — seem we got to get — getting worse. 
    And bu- — you know, but for some individuals, it was cataclysmic — all those folks who not only lost their homes but, more importantly, those folks who lost their lives, lost family members, lost all their personal belongings.  Entire neighborhoods were flooded, and millions — millions were without power.
    Earlier this morning, I did an aerial tour of Saint Petersburg and the battered coastline.  I flew over Tropicana Field and — where the Tampa Bays play — Rays play, and the roof was almost completely off.  But thank God not many people were injured.
    I spoke with first responders who’ve been working around the clock.  I also met with small-business owners here and homeowners who’ve taken a real beating — these back-to-back storms.  And they’re heartbroken and exhausted, and their expenses are piling up.
    And I know from experience how devastating it is to lose your home.  Several years ago, my home was struck by lightning.  It didn’t all burn down, but we were out of the home for seven months while it was being repaired.  The thing I was most concerned about was not just the home; it was all those things, all those — all those pictures I saved, my — and my daughter had drawn when she was little, all the — all the family photographs, all the albums, all the things that really matter.  
    Folks, the — the fact is that when you lose your wedding ring and the old photos of your children, family keepsakes, things that can’t be replaced — but sometimes, from my own experience, that’s the part that hurts the most.
    And I’m standing next to the mayor of Pete’s Beach and the Chairwoman Peters.  Both their homes were damaged in Hurricane Milton.  The mayor’s home flooded, family vehicles washed away.  The county chair’s home had experienced significant damage in the past two storms previous.  They just finished rebuilding and settling back in, and now they have to do it all over again.   
    Both their families lost precious personal belongings, but they’ve stepped up not only to look out for themselves but to help other families, help their neighbors.  You know, that’s the resilience of the people of West Florida.
    And I want to thank them and all the public officials who suffered consequential losses because of the storm but who are out there doing things to help other people who had serious losses.  It matters.  The American people should know the sacrifices they’re making.
    You know, they’ve been steadfast partners as well.  We’ve been in frequent contact.
    And it’s in moments like this we come together to take care of each other, not as Democrats or Republicans but as Americans — Americans who need help and Americans who would help you if you were in the same situation.  We are one United States — one Unites States.
    I also came here to talk about all the progress we have made together.  This is a whole-of-government effort, from state and local to FEMA to U.S. Coast Guard, Army Corps of Engineers, the Energy Department, Environmental Protection Agency, Department of Defense, just to name a few.
    FEMA has delivered 1.2 million meals, over 300,000 liters of water, 2 million gallons of fuel.  And so far, we’ve installed 100 satellite terminals to restore communications in impacted areas so families can ton- — contact their loved ones to be sure everything is okay and be able to reach out for help as well.
    Speaking of help, so far, we’ve opened 10 disaster recovery centers in Florida, with more to come, so people can have one stop to meet with officials, get the federal help they’re entitled to that’s available to them, such as direct, immediate financial aid and no [low-]interest payment loans, mortgage relief, and so much more.
    You can also go online to DisasterAssistance.gov — DisasterAssistance.gov — or call 1-800-621-FEMA — F-E-M-A.
    Yesterday, after I signed the major disaster declaration, more than 250,000 Floridians registered for help — 250,000 — the most in sin- — any — a single day ever in the history of this country — 250,000.
    I know you’re concerned about the debris removal, and it’s obvious why.  We’re prioritizing debris removal and working with the state and local partners to clear roads, to get wreckage into — of the two hurricanes off properties, and so more folks can return home and businesses can receive much-needed deliveries of food, fuel, medicine, and other essentials.  That’s a priority for me.
    Power has also been restored to over 2 million people in a matter of days.  And thanks to tens of thousands of power workers from 43 states and Canada working nonstop, even more people will have more power restored soon. 
    Today, I’m proud to announce $612 million to six new cutting-edge projects to support communities impacted by Hurricane Helene and Milton.  That includes $47 million for Gainesville Regional Utilities and another $47 million for Florida Power & Light.
    This funding will not only restore power, but it’ll make the region’s power system stronger and more capable and reduce the frequency and duration of power outages while extreme weather events become more frequent. 
    In fact, we’ve been able to restore power quicker because of critical infrastructure investments were made both when I was vice president and president to harden the grid.  For folks at home, “the grid” means the electrical power system that transmits energy from the — where it’s produced in a power plant to where it’s used in homes and businesses. 
    We’ve been hardening the grid, like b- — like burying transmission lines underground, replacing wood power poles with concrete or composite poles so they don’t snap in the wind.
    Energy Secretary Granholm is here with me today leading this effort, and she’ll tell you more about it and other cutting-edge technologies on the grid in a moment.
    Let me close with this.  I’m here to porsonally — personally say thank you to the brave first responders — and I don’t want to underestimate that — brave first responders, men and women in uniform, utility workers.  (Inaudible) look at the number that showed up from around the country — from Canada — California, Nebraska, all over the country — to come here to help. 
    Men and women in uniform, as I said; health care personnel; neighbors helping neighbors; and so many more people.  This is all a team effort, folks.  You made a big difference.  And it’s saved lives.
    But there’s much more to do, and we’re going to do everything we can to get power back into your homes, not only helping you recover but to help you build back stronger.
    God bless you all.  And may God protect our first responders and protect our troops.
    Now I’m going to turn this over to Secretary Granholm.  Madam Secretary. 
    11:42 A.M. EDT

    MIL OSI USA News –

  • MIL-OSI USA: Waller, Thoughts on the Economy and Policy Rules at the Federal Open Market Committee

    Source: US State of New York Federal Reserve

    Thank you, Athanasios, and thank you for the opportunity to be part of this very worthy celebration.1 In support of the theme of this conference, I do have some thoughts on the Shadow Open Market Committee’s contributions to the policy debate, in particular its advocacy for policy rules. But before I get to that, I am going to exercise the keynote speaker’s freedom to talk about whatever I want. To that end, I want to take a few minutes to offer my views on the economic outlook and its implications for monetary policy. So let me start there, and afterward I will discuss the role that policy rules play in my decision making and in the deliberations of the Federal Open Market Committee (FOMC).
    In the three weeks or so since the most recent FOMC meeting, data we have received has been uneven, as it sometimes has been over the past year. I continue to judge that the U.S. economy is on a solid footing, with employment near the FOMC’s maximum employment objective and inflation in the vicinity of our target, even though the latest inflation data was disappointing.
    Real gross domestic product (GDP) grew at a 2.2 percent annual rate in the first half of 2024, and I expect it to grow a bit faster in the third quarter. The Blue Chip consensus of private sector forecasters predicts 2.3 percent, while the Atlanta Fed’s GDPNow model, based on up-to-the moment data, is predicting real growth of 3.2 percent.
    Earlier, there were concerns that GDP in the first half of this year was overstating the strength of the economy, since gross domestic income (GDI) was estimated to have grown a mere 1.3 percent in the first half of this year, suggesting a big downward revision to GDP was coming. But revisions received after our most recent FOMC meeting showed the opposite—GDI growth was revised up substantially to 3.2 percent. This change in turn led to an upward revision in the personal saving rate of about 2 percentage points in the second quarter, leaving it at 5.2 percent in June. This revision suggests that household resources for future consumption are actually in good shape, although data and anecdotal evidence suggests lower-income groups are struggling. These revisions suggest that the economy is much stronger than previously thought, with little indication of a major slowdown in economic activity.
    That outlook is supported by consumer spending that has been and continues to be strong. Though the growth in personal consumption expenditures (PCE) has moderated since the second half of 2023, it has continued at an average pace of close to 2.5 percent so far this year. Also, my business contacts believe that there is considerable pent-up demand for durable goods, home improvements, and other big-ticket items, demand that built up due to high interest rates for credit cards and home equity loans. Now that rates have started to come down and are expected to come down more, consumers will be eager to make those purchases. For business spending, purchasing managers for manufacturers describe ongoing weakness in that sector, but those for the large majority of businesses outside of manufacturing continue to report a solid expansion of activity.
    Now let’s talk about the labor market. Only a couple months ago, it appeared that the labor market was cooling too quickly. Low numbers for job creation and a jump in the unemployment rate from 4.1 percent in June to 4.3 percent in July raised risks that the labor market was deteriorating. To remind you of how bad the markets viewed the July data, some Fed watchers were calling for an emergency FOMC meeting to discuss a rate cut. While the unemployment rate ticked down in August, job growth was once again well below expectations. Many were arguing that the labor market was on the verge of a serious deterioration and that the Fed was behind the curve even after a 50 basis point cut in the policy rate at the September FOMC meeting.
    Then we got the September employment report. Job creation in September was unexpectedly strong at 254,000 and the unemployment rate fell back down to 4.1 percent, which is where it was in June. The report also showed big upward revisions to payroll gains for the previous two months. Together, the message was loud and clear: While job creation has moderated and the unemployment rate has risen over the past year, the labor market remains quite healthy.
    Along with other new data on the labor market, the evidence is that labor supply and demand have come into balance. The number of job vacancies, a sign of strength in the labor market, has fallen gradually since the beginning of the year. The ratio of vacancies to unemployed is at 1.2, about the level in 2019, which was a pretty strong labor market. To put this number into perspective, recent research has shown that this ratio has been above 1 only three times since 1960.2 The quits rate, another sign of labor market strength, has fallen lower than it was in 2019, a decrease which partly reflects that the hiring rate has fallen as labor supply and demand have come into better balance.
    In sum, based on payrolls, the unemployment rate and job revisions, there has been a very gradual moderation in labor demand relative to supply, but not a deterioration. The stability of the labor market, as reflected in these two measures as well as the other metrics I mentioned, bolsters my confidence that we can achieve further progress toward the FOMC’s inflation goal while supporting a healthy labor market that adds jobs and boosts wages and living standards for workers.
    I will be looking for more evidence to support this outlook in the weeks and months to come. But, unfortunately, it won’t be easy to interpret the October jobs report to be released just before the next FOMC meeting. This report will most likely show a significant but temporary loss of jobs from the two recent hurricanes and the strike at Boeing. I expect these factors may reduce employment growth by more than 100,000 this month, and there may be a small effect on the unemployment rate, but I’m not sure it will be that visible. Since the jobs report will come during the usual blackout period for policymakers commenting on the economy, you won’t have any of us trying to put this low reading into perspective, though I hope others will.
    Looking ahead, I expect payroll gains to moderate from their current pace but continue at a solid rate. The unemployment rate may drift a bit higher but is likely to remain quite low in historical terms. While I believe the labor market is on a solid footing, I will continue to watch the full range of data for signs of weakness.
    Meanwhile, inflation, after showing considerable progress for several months toward the FOMC’s 2 percent target, likely moved up in September. The consumer price index grew 0.2 percent over the past month, 2.1 percent over the past three months, 1.6 percent over six months and 2.4 percent in the past year. Oil prices fell over most of the summer but then more recently have surged. Excluding energy and also food prices that likewise tend to be volatile, and just as it did in August, core CPI inflation printed at 0.3 percent in September and 3.3 percent over the past year.
    Private-sector forecasts are predicting that PCE inflation, the FOMC’s preferred measure, will also move up in September. Core PCE prices are expected to have risen around 0.25 percent last month. While not a welcome development, if the monthly core PCE inflation number comes in around this level, over the last 5 months it is still running very close to 2 percent on an annualized basis. We have made a lot of progress on inflation over the course of the last year and half, but that progress has clearly been uneven—at times it feels like being on a rollercoaster. Whether or not this month’s inflation reading is just noise or if it signals ongoing increases, is yet to be seen. I will be watching the data carefully to see how persistent this recent uptick is.
    The FOMC’s inflation goal is an average of 2 percent over the longer run and there are some good reasons to think that price increases will be modest going forward. I am hearing reports from firms that their pricing power seems to have waned as consumers have become more sensitive to price changes. There has also been a steady slowing in the growth of labor compensation. It is true that average hourly earnings growth in September ticked up to 4 percent over the past year. And though it might seem like wage increases of 4 percent a year would put upward pressure on inflation that is near 2 percent, that might not be true if one considers productivity, which has grown at an average annual rate of 2.9 percent for the past five quarters. Some of this strength was making up for productivity that shrank due to the pandemic, but the longer it continues—up 2.5 percent for the second quarter—the better productivity supports wage growth of 4 percent, or even higher, without driving up inflation. All that said, I will be watching all the data related to inflation closely.
    With the labor market in rough balance, employment near its maximum level, and inflation generally running close to our target over the past several months, I want to do what I can as a policymaker to keep the economy on this path. For me, the central question is how much and how fast to reduce the target for the federal funds rate, which I believe is currently set at a restrictive level. To help answer questions like this, I often look at various monetary policy rules to assess the appropriate setting of policy. Policy rules have long been of serious interest to the Shadow Open Market Committee. So before I turn to my views on the future path of policy, I thought I would talk about monetary policy rules versus discretion and begin with some background about the use of rules at the FOMC.
    For a brief overview of the history of the advent of rules at the Board, I have been directed to the second chapter of The Taylor Rule and the Transformation of Monetary Policy written by George Kahn, and I have also consulted the memories of longtime members of the Board staff.3 Rules came along in the 1990s as the Fed was moving away from monetary targeting, focusing more on interest-rate policy, and taking its first major steps toward increased transparency. There was immediate interest in Taylor-type rules among Fed staff, and even some contributions of research.4 There was a presentation to the FOMC on rules in 1995, and that was the same year that John Taylor’s Bay Area colleague, Janet Yellen, was apparently the first policymaker to mention the Taylor rule at an FOMC meeting. While FOMC decisions mimicked a Taylor rule much of the time under Chairman Alan Greenspan, he was famously an advocate of “constructive ambiguity” in communication, and he and other central bankers since have resisted the suggestion that decisions could be handed over to strict rules. Today, of course, a number of rules-based analyses are included in the material submitted to policymakers ahead of every FOMC meeting, and we publish the policy prescriptions of different rules as part of the Board’s semi-annual Monetary Policy Report. Rules have become part of the furniture in modern policymaking.
    As everyone here knows, but for the benefit of other listeners, Taylor rules relate the level of the policy interest rate to a limited number of other economic variables, most often including the deviation of inflation from a target value and a measure of resource use in the economy relative to some long-run trend.5 There are numerous forms of the Taylor rule, but they generally fall into two categories.
    The first of these, an inertial rule, has the property that the policy rate changes only slowly over time. I tend to think of it as an approach that captures the reaction function of a policymaker in a stable economy where the forces that would tend to change the economy and policy build over time. When change does occur, a gradual response may give policymakers time to assess the true state of the economy and the possible effects of their decision. One example I can use is the steadfastness of policymakers in the latter part of 2023, when inflation fell more rapidly than was widely expected, and again in early 2024, when it briefly escalated. The FOMC did not change course either time, an approach validated by inertial rules.
    A non-inertial rule, on the other hand, allows and in fact calls for relatively quick adjustments to policy. The guidance from these rules is more useful when there is a turning point in the economy, and policymakers need to stay ahead of events. One saw these non-inertial rules prescribe a sharper rise in the policy rate above the effective lower bound starting in 2021 as inflation began climbing above the FOMC’s 2 percent target. Non-inertial rules are also more useful in the face of major shocks to the economy such as the 2008 financial crisis and the start of the pandemic.
    The great promise of rules is that they provide a simple and reliable guide to policy, but what should one do when different rules recommend different policy actions given the same economic conditions? Right now, inertial rules tell us to move slowly in reducing policy rates toward a neutral stance that neither restricts nor stimulates the economy. On the other hand, non-inertial rules tell us to cut the policy rate more aggressively, subject to the caveat that one is certain of the values of all the ‘star’ variables: U*, Y* and r*. I think the answer is that while rules are valuable in helping analyze policy options, they have limitations. Among these are the limits of the data considered, which is typically narrower than the range of data that policymakers use to make decisions, and also the fact that simple policy rules do not take into account risk management, which is often a critical consideration in policy decisions. So, while policy rules serve as a good check on discretionary policy, there are times when discretion is needed. As a result, I prefer to think of them as “policy rules of thumb”.
    Turning to my view for the path for policy, let me discuss three scenarios that I have had in mind to manage the risks of upcoming decisions in the medium term.
    The first scenario is one where the overall strong economic developments that I have described today continue, with inflation nearing the FOMC’s target and the unemployment rate moving up only slightly. This scenario implies to me that we can proceed with moving policy toward a neutral stance at a deliberate pace. This path would be based on the judgment that the risks to both sides of our dual mandate are balanced. In this circumstance, our job is to keep inflation near 2 percent and not slow the economy unnecessarily.
    Another scenario, less likely in light of recent data, is that inflation falls materially below 2 percent for some time, and/or the labor market significantly deteriorates. The message here is that demand is falling, the FOMC may suddenly be behind the curve, and that message would argue for moving to neutral more quickly by front-loading cuts to the policy rate.
    The third scenario applies if inflation unexpectedly escalates either because of stronger-than-expected consumer demand or wage pressure, or because of some shock to supply that pushes up inflation. As we learned in the recovery from the pandemic recession, when demand was stronger and supply weaker than initially expected, such surprises do occur. In this circumstance, as long as the labor market isn’t deteriorating, we can pause rate cuts until progress resumes and uncertainty diminishes.
    Most recently, we have seen upward revisions to GDI, an increase in job vacancies, high GDP growth forecasts, a strong jobs report and a hotter than expected CPI report. This data is signaling that the economy may not be slowing as much as desired. While we do not want to overreact to this data or look through it, I view the totality of the data as saying monetary policy should proceed with more caution on the pace of rate cuts than was needed at the September meeting. I will be watching to see whether data, due out before our next meeting, on inflation, the labor market and economic activity confirms or undercuts my inclination to be more cautious about loosening monetary policy.
    Whatever happens in the near term, my baseline still calls for reducing the policy rate gradually over the next year. The median rate for FOMC participants at the end of 2025 is 3.4 percent, so most of my colleagues likewise expect to reduce policy over the next year. There is less certainty about the final destination. The median estimated longer-run level of the federal funds rate in the Committee’s Summary of Economic Projections (SEP) is 2.9 percent, but with quite a wide dispersion, ranging from 2.4 percent to 3.8 percent. While much attention is given to the size of cuts over the next meeting or two, I think the larger message of the SEP is that there is a considerable extent of policy accommodation to remove, and if the economy continues in its current sweet spot, this will happen gradually.
    Thank you again, for the opportunity to be part of today’s conference, and for allowing me to share some thoughts, relevant to monetary policy rules and my day job back in Washington. The Shadow Committee has elevated the public debate about monetary policy. May you continue to play that role for many years to come.

    1. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Open Market Committee. Return to text
    2. See Pierpaolo Benigno and Gauti B. Eggertsson (2024), “Revisiting the Phillips and Beveridge Curves: Insights from the 2020s Inflation Surge (PDF),” paper presented at “Reassessing the Effectiveness and Transmission of Monetary Policy,” a symposium sponsored by the Federal Reserve Bank of Kansas City, held in Jackson Hole, Wyo., August 23. Return to text
    3. See Evan F. Koenig, Robert Leeson, and George A. Kahn, eds. (2012), The Taylor Rule and the Transformation of Monetary Policy (Stanford, Calif.: Hoover Institution Press). I was assisted in this brief history by Board economists James Clouse and Edward Nelson. Return to text
    4. See Dale W. Henderson and Warwick J. McKibbin (1993), “A Comparison of Some Basic Monetary Policy Regimes for Open Economies: Implications of Different Degrees of Instrument Adjustment and Wage Persistence,” Carnegie-Rochester Conference Series on Public Policy, vol. 39 (December), pp. 221–317). This paper was also published in the International Finance Discussion Papers series and is available on the Board’s website at https://www.federalreserve.gov/pubs/ifdp/1993/458/ifdp458.pdf. Return to text
    5. For a variety of Taylor rules and their implication for policy, see the Monetary Policy Report, available on the Board’s website at https://www.federalreserve.gov/monetarypolicy/publications/mpr_default.htm. Return to text

    MIL OSI USA News –

  • MIL-OSI: Bybit Elevates WSOT Rewards Experience with Fiat x WSOT Challenge

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 14, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce a new World Series of Trading (WSOT) side challenge with two new prize pools for fiat users. In addition to the 10,000,000 USDT total prize pool of WOST 2024, new joiners and traders of Bybit Fiat can now sign up to divide up rewards up to 28,800 USDT.

    From now to Nov. 4, 10AM UTC, Bybit users may register for one or both of the following challenges:

    Event 1: Beginner Fiat Deposit

    Bybit is giving away 20,000 USDT to new users of its fiat offerings. The first 2,000 users who make a first-time deposit of at least $100 via Bybit’s One-Click Pay, P2P, or Fiat Deposit will be rewarded with a bonus 10 USDT. 

    Event 2: Fiat Trading Competition

    Users may also step up their game in the Fiat Trading Competition to turn their trading skills into bonuses. Based on performance, the top 50 traders will share a 8,800 USDT prize pool.

    “Whether you are a sole trader or a squad member, WSOT 2024 promises to create a rewarding experience for crypto enthusiasts and for the Bybit community. Bybit is devoted to its mission to craft a rewarding, exciting, and community-first platform and WSOT 2024 marks the perfect occasion to level up our rewards. We encourage users to diversify their investments and balance their assets across products, and this is a great opportunity to try out fiat and test your trading skills,” said Joan Han, Sales and Marketing Director at Bybit. 

    This year’s WSOT offers multiple bonus tracks for participants to maximize their chance at rewards, including traders and depositors of Bybit who are not competing in the WSOT main event. From trading tasks, lucky draws, to livestreaming with airdrops, there is not a dull moment throughout the WSOT 2024 season. The longest-running and largest trading competition of its kind, Bybit’s WSOT has evolved from a community event to a benchmark for trading excellence since 2020.

    Check out the Fiat x WSOT Challenge event page for details and terms and conditions. 

    #Bybit / #TheCryptoArk / #WSOT2024

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, please visit Bybit Press 

    For media inquiries, please contact: media@bybit.com

    For more information, please visit: https://www.bybit.com

    For updates, please follow: Bybit’s Communities and Social Media

    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

    Contact

    Head of PR

    Tony Au

    Bybit

    tony.au@bybit.com

    The MIL Network –

  • MIL-OSI Asia-Pac: Dr Jitendra Singh addresses 11th India Sweden Innovation Day;

    Source: Government of India (2)

    Dr Jitendra Singh addresses 11th India Sweden Innovation Day;

    Calls for bilateral collaboration at multiple levels, including Govt to Govt, industry to industry and academia to academia

    India climbing rapidly on innovation indices; In GII 2024, India ranks 1st among the 10 economies in Central and Southern Asia and 39th among the 133 economies: the Minister

    Posted On: 14 OCT 2024 4:51PM by PIB Delhi

    Union Minister of State (Independent Charge) for Science and Technology, Minister of State (I/C) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr Jitendra Singh has called for bilateral collaboration between India and Sweden at multiple levels. He said, Sweden is one of the global leaders in innovation. In Global Innovation Index (GII) 2024, Sweden ranks 2nd among the 39 economies in Europe and among the 133 global economies featured in the GII 2024.

    Dr Jitendra Singh was addressing the 11th India Sweden Innovation Day (ISID) function. The theme for 2024 is “Accelerating Green Growth for Inclusive Transition”.

    Informing the audience about the growth of the country in the field of innovation, Dr Jitendra Singh said, “India is climbing rapidly on innovation indices. In GII 2024, India ranks 1st among the 10 economies in Central and Southern Asia and 39th among the 133 economies, he said.

    Similarly, on the other hand, the Union Minister noted that Sweden too is one of the global leaders in innovation. In Global Innovation Index (GII) 2024, Sweden ranks 2nd among the 39 economies in Europe and among the 133 global economies featured in the GII 2024, he said. He expressed hope that the country will certainly catch the top echelons of the world in the years to come.

    Speaking about the Prime Minister Shri Narendra Modi aiming at global benchmarks in research and innovation, the Minister said, “Prime Minister Shri Narendra Modi has already announced the net zero carbon footprint target of 2070 and therefore I think India and Sweden can cooperate and collaborate at different levels both government as well as non-government sector.” There is a bundle of scope for the two nations for joint research calls to collaborate on deliverable research, academia, innovation and industrial entrepreneurship, including startups.

    Speaking about strides in the sector, Dr Jitendra Singh mentioned, “I am also proud to note that over the last ten years, under the patronage of Prime Minister Shi Narendra Modi, there has been a special impetus and high prioritisation as far as science technology innovation is concerned. India Today is it in a position to claim to be a frontline nation in different areas, for example the space sector we plan to send a human being next year, the first human mission indigenously developed by India, and at the same time next year we hope to send on Indian human 6,000 metre deep as a part of the deep-sea mission.

    Research & Innovation have been the important aspect of the flourishing India Sweden partnership. The 11th edition of ISID reflects the ongoing importance & success of our ongoing partnerships. The continued presence of the Minister at the ISID inauguration since 2021 is a strong signal of the importance attached by India to its innovation partnership with Sweden.

    Several Indian and Swedish government agencies partnering and jointly funding these calls (eg. DST, DBT). That includes extensive and growing research cooperation between Indian and Swedish universities. Leading Swedish universities like Karolinska, KTH, Chalmers and others have ongoing cooperation with leading Indian universities. This can be further strengthened by involving the private sector also.

    In addition, several Swedish companies carry out R&D and innovation in India. Alkem Laboratories, which is pioneering the high-tech medical devices segment, has partnered with Swedish company Biosergen for clinical trials of fungal diseases. There is also growing cooperation between research, education, government and private sector in India, including vaccines, digital public infrastructure and defence.

    Use of Technology & innovative solutions scaling up Development interventions in the country, Dr Jitendra Singh said, “India and Sweden are strengthening partnership in green technology through initiatives like LeadIT 2.0, focusing on low-carbon industrial transitions, sustainable energy, and smart transport.” This collaboration, highlighted at COP28, supports green innovations in sectors like steel, cement, and aviation, aiming for net-zero emissions by 2050.

    Venus Mission – Sweden has officially joined ISRO’s Venus Orbiter Mission (VOM). The Swedish Space Corporation (SSC) and the Indian Space Research Organisation (ISRO) are collaborating on a Venus mission. The Swedish Institute of Space Physics (IRF) will provide ISRO with the Venusian Neutrals Analyser (VNA), a lightweight and low-power yet highly effective energetic neutral atom (ENA) analyser.

    India’s active participation in several international Mega Science projects – capabilities of Indian scientists, engineers and companies. Going forward, the Minister said, “India, an unmatched source for Innovation, R&D and Talent and there is huge scope for bilateral collaboration for scalable, cost-effective development solutions for energy and health challenges.”

    The event was well attended by senior officials, innovators, industry leaders and academia of the both countries, which was also addressed by Vice Prime Minister and Minister for Energy and Enterprise of Sweden Ms Ebba Busch. Ambassador of Sweden to India, Mr Jan Thesleff also took part through video conferencing.

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  • MIL-OSI Asia-Pac: Government’s Support Fuels Transformation of Bioenergy Ecosystem in India: Petroleum Minister Hardeep Singh Puri

    Source: Government of India (2)

    Government’s Support Fuels Transformation of Bioenergy Ecosystem in India: Petroleum Minister Hardeep Singh Puri

    Minister Puri addresses 12th Edition of the CII Bioenergy Summit

    Posted On: 14 OCT 2024 5:13PM by PIB Delhi

    At the 12th Edition of the CII Bioenergy Summit today, Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas, underscored India’s remarkable progress in bioenergy, aligning with the summit’s theme, “Fuelling the Future – Securing India’s Green Growth Goals.” Shri Puri highlighted the success of India’s ethanol blending initiative, which has seen the blending percentage rise from 1.53% in 2014 to a projected 15% by 2024. Encouraged by these results, the government has advanced its target for 20% blending to 2025, reinforcing its commitment to sustainable energy. He further revealed that discussions have already started to develop a roadmap for the future, post the attainment of the 20% blending target. This roadmap will guide the country’s next steps in its pursuit of energy sustainability and self-reliance.

    Shri Hardeep Singh Puri commended Prime Minister Shri Narendra Modi’s leadership in transforming India’s bioenergy ecosystem since 2014. He emphasized the crucial role of market dynamics, technology advancements, and supportive government policies in driving this transformation and enhancing sustainability in the energy sector.

    The Minister shared impressive outcomes of the ethanol program, revealing that from 2014 to August 2024, it has generated foreign exchange savings of ₹1,06,072 crore, reduced CO2 emissions by 544 lakh metric tons, and achieved crude oil substitution of 181 lakh metric tons. Payments to distillers by OMCs have reached ₹1,50,097 crore. Furthermore, he said, farmers have been paid ₹90,059 crore, empowering them from being Annadata to being Urjadata. Additionally, he mentioned about the government’s ambitious targets for Sustainable Aviation Fuel (SAF), aiming for 1% blending in 2027 and 2% in 2028, positioning India as a leader in bio-mobility.

    At the event, Shri Hardeep Singh Puri emphasized India’s robust economic growth, predicting it will drive 25% of global energy demand over the next two decades. He noted that bioenergy will be crucial in meeting this demand while advancing climate goals and rural development. Currently valued at US$44 billion (as per Wood Mckenzie), the Minister said that the bioenergy market is projected to grow to US$125 billion by 2050. If global net-zero targets are achieved, this figure could surge to US$500 billion.

    Underscoring India’s agricultural strength and its vast biomass potential as critical elements in the country’s transition to clean energy, Shri Puri said that the country recognized as an agricultural powerhouse, is a leading producer of rice, wheat, cotton, sugar, and various horticultural and dairy products. He said that the country has more than 750 million metric tonnes of available biomass, with about two-thirds being used for domestic purposes such as cattle feed and compost fertilizer.  According to a report by PWC, he noted, 32% of India’s total primary energy consumption is derived from biomass, and over 70% of Indians rely on it for energy across the value chain.

    India’s position as a major biofuel producer and consumer has been strengthened through coordinated policies, political support, and abundant feedstocks, said Shri Hardeep Singh Puri. He noted that the International Energy Agency (IEA) forecasts a growth potential of 3.5 to 5 times for biofuels by 2050 due to Net Zero targets, presenting a substantial opportunity for India. The Global Biofuels Alliance (GBA) aims to facilitate knowledge sharing, technological advancement, and policy development, unlocking a $500 billion opportunity in biofuels and accelerating global adoption through technology transfer. He said that the government initiatives, such as the Indian Solar Alliance (ISA) and GBA, aim to accelerate the transition to cleaner energy sources, reduce import dependency, save foreign exchange, promote a circular economy, and move toward a self-reliant energy future.

    The Minister also referred to different incentives introduced by government to support ethanol production.

    Shri Puri also highlighted India’s collaboration with Brazil, emphasizing the importance of joint efforts in sustainable bioenergy and biofuels to enhance energy security and reduce carbon emissions, particularly in hard-to-decarbonize sectors like aviation and shipping.

    In his concluding remarks, Shri Hardeep Singh Puri emphasized that the responsibility for fuelling India’s green growth extends beyond the government to include industry leaders, researchers, innovators, and citizens. He urged all stakeholders to collaborate boldly to establish a sustainable bioenergy sector that meets energy needs and sets a global standard.

    *****

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  • MIL-OSI Asia-Pac: Shri Manohar Lal addresses Brainstorming Session on the Indian Power Sector Scenario 2047

    Source: Government of India (2)

    Shri Manohar Lal addresses Brainstorming Session on the Indian Power Sector Scenario 2047

    All Power Sector Stakeholders to collaborate to achieve 2,100GW by 2047: Shri Manohar Lal

    Need to quickly shift towards a more diverse and cleaner energy mix: Shri Shripad Yesso Naik

    National Electricity Plan (Transmission) launched; targets achieving 500GW of renewable energy installed capacity by 2030 and over 600 GW by 2032

    Posted On: 14 OCT 2024 5:18PM by PIB Delhi

    Union Minister Shri Manohar Lal addressed Brainstorming Session on the Indian Power Sector Scenario 2047 in New Delhi today.

    At the two-day Brainstorming Session on the Indian Power Sector Scenario 2047  Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal, outlined the government’s strategy to meet the country’s burgeoning energy needs while transitioning to cleaner sources of power.

    “By 2047, we anticipate our power demand to reach 708 gigawatts. To meet this, we need to increase our capacity by four times, i.e. 2,100 gigawatts,” Union Minister Manohar Lal stated, highlighting the scale of the challenge ahead. “This is not just about increasing capacity; it’s about reimagining our entire energy landscape.”

    The Union Minister emphasised the critical role of renewable energy in India’s future power mix. “We have set an ambitious target of 500 GW of non-fossil energy capacity by 2030, effectively doubling our current capacity,” he said. This push towards green energy aligns with India’s commitment to reducing carbon emissions by one billion tonnes by 2030 and achieving net-zero emissions by 2070.

    Shri Manohar Lal praised the CEA for its pivotal role in shaping the sector’s future, citing the National Electricity Plan, which was launched at the session. “This plan will provide crucial guidance to state governments and investors, fostering a collaborative approach to sector development,” he noted.

    The National Electricity Plan (Transmission), developed in consultation with various stakeholders, outlines a comprehensive strategy to achieve the government’s energy transition goals. It details the transmission infrastructure required to support 500 gigawatts of renewable energy capacity by 2030, increasing to over 600 gigawatts by 2032. The plan incorporates innovative elements such as the integration of 10 gigawatts of offshore wind farms, 47 gigawatts of battery energy storage systems, and 30 GW of pumped storage plants. It also addresses the power needs of green hydrogen and green ammonia manufacturing hubs, and includes cross-border interconnections. With a planned addition of 190,000 circuit kilometres of transmission lines and 1,270 GPA of transformation capacity over the next decade, the plan presents an investment opportunity of over 9 lakh crore rupees in the transmission sector.

    The minister also addressed the challenges of integrating variable renewable energy sources into the grid, emphasising the need for advanced storage solutions. “We are exploring innovative technologies in pump storage facilities and battery storage to ensure 24/7 power availability to our citizens,” the Union Minster explained.

    Recognising the transformative impact of rapid urbanisation and industrialisation on power demand, the government is focusing on grid infrastructure expansion and upgradation. The Union Minister stressed the importance of creating a skilled workforce to support this modernisation, stating, “We must develop a workforce capable of meeting the demands of a 21st-century energy system.”

    On occasion, Minister of State for Power and New & Renewable Energy, Shri Shripad Yesso Naik, emphasised the need for meticulous planning to align the power sector with emerging priorities. He called for a swift transition towards a diverse and cleaner energy mix, driven by ambitious sustainability targets. “Significant investment will be needed in renewable technologies, energy storage solutions and grid modernisation,” Shri Naik stated. He highlighted the pivotal role of the Central Electricity Authority in shaping the sector’s transformation, noting its wide-ranging responsibilities from formulating national electricity plans to setting technical standards.  MoS stressed the importance of developing new skills, regulatory frameworks, and market structures to manage the evolving energy landscape, asserting that “electricity is not just a commodity, but a catalyst for growth, development and a sustainable future.”

    Among other speakers at the inaugural session, Shri Pankaj Agarwal, Secretary, Ministry of Power, outlined India’s roadmap for a modern, energy-efficient power sector, emphasizing India’s critical role in the vision of ONE SUN, ONE WORLD, ONE GRID for a sustainable future.

    He underscored the multifaceted nature of energy security, stating that it encompasses three critical elements: affordability, adequacy coupled with reliability, and sustainability. He further alluded to the recent G20 New Delhi Leaders’ Declaration, highlighting the ambitious targets set for the sector. “The G20 members have resolved to triple renewable energy capacity and double the rate of improvement in energy efficiency,” he noted. Looking ahead to COP29, the Secretary added, “We anticipate a requirement for a sixfold increase in storage capacity.” He also underlined the need for a comprehensive planning framework to meet demand optimally and securely while calling for the flexibilisation of Power Purchase Agreements and reduced power costs for consumers.

    Ms. Debashree Mukherjee, Secretary, Department of Water Resources, River Development & Ganga Rejuvenation, highlighted the critical link between water and power in driving India’s economic growth. She emphasized the need for sustainable energy solutions and the close collaboration between CEA and Central Water Commission in hydropower development for 2047.

    Shri Prashant Kumar Singh, Secretary, Ministry of New and Renewable Energy, highlighted India’s ambitious strides in renewable energy, focusing on solar, wind, and innovative green initiatives to power Viksit Bharat.

    Shri R.V. Shahi, Former Secretary, Ministry of Power highlighted the crucial role of financial planning and policy-making in India’s power sector growth and the steps needed for Viksit Bharat by 2047”.

    Shri Ghanshyam Prasad, Chairperson, CEA, presented a comprehensive roadmap for the power sector’s evolution, tracing its growth from a mere 1 GW peak demand at independence to now targeting to four times the capacity to 2053 GW by 2047. This ambitious plan includes a significant shift towards renewable energy, with targets of 1,200 gigawatts of solar and over 400 gigawatts of wind power by 2047. A key focus is on hydro pump storage plants, with capacity expected to surge from the current 4.7 gigawatts to 116 gigawatts. The plan addresses critical areas such as flexible operation of thermal and nuclear plants, skill development, research and development, financing for energy transition, and innovative solutions in transmission and distribution. He emphasised the need for a collaborative approach among all stakeholders to achieve the vision of a world-class Indian power sector by 2047, coinciding with the country’s centenary of independence.

    Shri Subhrakant Panda, Immediate Past President, FICCI and and Managing Director, Indian Metals & Ferro Alloys, said, “India’s power sector, now surplus with 450+ GW capacity, presents vast opportunities in the transition to clean energy by 2070. The expanding renewable energy sector offers promising growth prospects. Enhancing local manufacturing and R&D investment will open new avenues for innovation and industry development; while improving ease of business, extending ISTS waivers, and strengthening the transmission and power evacuation system will further boost sector growth, creating numerous opportunities for investors and businesses.”

    The conclave is being organised in collaboration with a broad range of stakeholders, including FICCI and CBIP, who serve as the programme partners, among a host of other organisations, reflecting its industry-wide significance. 

    The CEA has unveiled its vision for the power sector’s development through 2047, emphasising sustainable growth, technological innovation, and meeting the challenges of a rapidly expanding economy.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: E-Office Implemented in 92 Attached/ Subordinate Offices and Autonomous Bodies covering about 6500 users as part of 100 Days agenda of the Government

    Source: Government of India (2)

    Posted On: 14 OCT 2024 6:09PM by PIB Delhi

    E-Office implemented by Government of India, with the objective of improving the Government functioning by inculcating more efficient, effective, transparent and standard office procedures. The Department of Administrative Reforms & Public Grievances (DARPG) is the nodal Department for implementation of e-Office.

    In the years 2019–2024, the adoption of e-Office gained significant momentum in the Central Secretariat with 37 lac files i.e., over 94 percent of files and receipts being handled electronically as e-Files and e-Receipts.  In the backdrop of the successful implementation of the e-Office platform in the Central Secretariat, Government has decided that e-Office will be implemented in all attached, subordinate offices and autonomous bodies of the Government of India as part of DARPG’s 100-days agenda of Government.

    133 attached, Subordinate offices and Autonomous Bodies were identified for implementation of e-Office after consultations with all Ministries/ Departments. DARPG as the Nodal Department,issued detailed guidelines for adoption of e-Office in attached, subordinate offices and autonomous bodies on 24th June 2024. The on-boarding roadmap and technical modalities were firmed up in inter-ministerial meetings with all Ministries/ Departments and NIC, which is the knowledge partner for implementation of e-Office.

    As a result of continuous efforts of DARPG and NIC, e-Office hasbeen rolled out in 92 Attached/ Subordinate Offices and Autonomous Bodies covering about 6500 users.  The details of organisations in which e-Office has been implemented under 100 Days Agenda of the Government are as follows:

    S.No.

    Ministry /Department

    Number  of Attached/Subordinate Office and  Autonomous bodies, where e-office has been implemented

    No. of Active e-Office

    Users
    1.  

    Ministry of Skill Development and

    Entrepreneurship

    3

    753
    1.  

    Department of  Food & Public Distribution

    14

    153
    1.  

    Department of Consumer Affairs

    10

    1395
    1.  

    Department of Atomic Energy

    1

    527
    1.  

    Department of Telecommunications

    1

    415
    1.  

    Department of Animal Husbandry & Dairying

    1

    84
    1.  

    Ministry of Tourism

     

    21

    63
    1.  

    Ministry of AYUSH

    1

    19
    1.  

    Ministry of Housing & Urban Affairs

     

    2

    18
    1.  

    Ministry of Electronics and Information Technology

    1

    16
    1.  

    Department of Posts

     

    26

    1502
    1.  

    Department of Agriculture & Farmers Welfare

    2

     

    On Deptt. instance
    1.  

    Department of Drinking Water and Sanitation

    1

    22
    1.  

    Department of Health & Family Welfare

    6

    978
    1.  

    Department     of  Chemicals & Petrochemicals       

    1

    475
    1.  

    Ministry of AYUSH

    1

    47

    Total

    92

    6467

     

    In the remaining 41 attached/ sub-ordinate offices and autonomous bodies of Central Government also, the process for rolling out e-Office is at an advanced stage.

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  • MIL-OSI Asia-Pac: National Electricity Plan (Transmission) launched by Cabinet Minister for Power and Housing & Urban Affairs

    Source: Government of India (2)

    Posted On: 14 OCT 2024 6:10PM by PIB Delhi

    CEA with the aim of transmitting of 500 GW of Renewable Energy installed capacity by the year 2030 and over 600 GW of Renewable Energy installed capacity by the year 2032, prepared the detailed Nation Electricity Plan (Transmission) in consultation with various Stakeholders. The same was launched by the Union Minster Shri Manohar Lal in presence of various dignitaries during the two days Brainstorming conclave being organized by CEA during 14-15th October 2024 in New Delhi.

    The Plan has also taken into consideration the requirement of storage systems viz 47 GW of Battery Energy Storage Systems and 31 GW of Pumped Storage Plants to be developed along with Renewable Energy. Transmission system has also been planned for delivery of power to the Green Hydrogen/Green Ammonia Manufacturing hubs at coastal locations like Mundra, Kandla, Gopalpur, Paradeep, Tuticorin, Vizag, Mangalore etc.

    As per the National Electricity Plan, over 1,91,000 ckm of transmission lines and 1270 GVA of transformation capacity is planned to be added during the ten year period from 2022-23 to 2031-32 (at 220 kV and above voltage level). In addition, 33 GW of HVDC bi-pole links are also planned. The inter-regional transmission capacity is planned to increase to 143 GW by the year 2027 and further to 168 GW by the year 2032, from the present level of 119 GW.

    The Transmission Plan also covers Cross border interconnections with Nepal, Bhutan, Myanmar, Bangladesh, Sri Lanka as well as probable interconnections with Saudi Arabia, UAE etc.

    The transmission plan highlights new technology options in transmission sector like Hybrid Substations, Monopole Structures, Insulated Cross Arms, Dynamic Line Rating, High Performance Conductors, Upgradation of maximum operating voltage to 1200 kV AC as well as skill development in Transmission Sector.

    With several transmission schemes under construction, several transmission schemes under bidding and several other transmission schemes in pipeline, the transmission Plan provides visibility to the investors of the massive investment opportunity of over INR 9,15,000 Crores in Transmission Sector till the year 2032.

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    MIL OSI Asia Pacific News –