NewzIntel.com

Category: European Union

  • MIL-OSI Africa: Power vacuum in west Africa’s Sahel: 3 ways China could fill the gap as west exits

    Source: The Conversation – Africa – By Abdul-Gafar Tobi Oshodi, Faculty member, Department of Political Science, Lagos State University

    With France fast losing its influence in west Africa’s Sahel region and an unpredictable US president in power, will China fill the vacuum?

    The Sahel region covers 10 countries: Burkina Faso, Cameroon, Chad, The Gambia, Guinea, Mali, Mauritania, Niger, Nigeria and Senegal.

    French troops have been expelled from three of these – Mali, Burkina Faso and Niger – after military coups. Chad, Senegal and Ivory Coast have also expelled French troops. The troops were there because of the security threat from extremist groups like Boko Haram and Islamic State West Africa Province.

    Niger also ended an agreement to keep about 1,000 US troops involved in a counter-terrorism mission. Niger’s military government described the US as having a “condescending attitude”.

    While it has been rightly argued that the presence of the western powers did not resolve the security challenges of the region, their withdrawal creates a vacuum.

    I am a political science and international relations researcher who has been studying China-Africa relations for over a decade.

    I argue that Beijing could take advantage of the vacuum in the Sahel in at least three ways: expansion of investments in critical minerals; resolution of the Ecowas crisis (when Niger, Burkina Faso and Mali exited the regional bloc); and increased arms sales.

    This is especially so as China is not new to the Sahel region of west Africa. For instance, China is constructing a US$32 million headquarters for Ecowas in Abuja, Nigeria.

    Three ways China could benefit

    First, China could expand its influence – and the next four years hold enormous opportunities in this regard.

    US president Donald Trump’s likely transactional and unpredictable approach to international relations may force African countries to look to China. For instance, they may need China to help fill the void created by the US decision to dismantle USAID and freeze international development aid.

    Nigeria joined Brics as a partner country a few days before the inauguration of Trump. Brics is a group of emerging economies determined to act as a counterweight to the west and to whittle down the influence of global institutions. It was established in 2006 and initially composed of Brazil, Russia, India, and China. This decision by the largest economy in the Sahel is an expression of its commitment to China – with potential implications for other Sahelian countries.

    The vacuum offers Beijing the opportunity to strengthen its investment and position as a top beneficiary of the critical minerals, such as gold, copper, lithium and uranium, in the Sahel region.

    In 2024, west African gold production was estimated to be 11.83 million ounces. Ghana, Burkina Faso, the Republic of Guinea and Mali were the major contributors.

    Second, China is in a unique position to push for a resolution of the Ecowas crisis.

    Following military coups, the Ecowas regional economic bloc sanctioned Mali, Burkina Faso and Niger. Ecowas even threatened Niger with a military invasion. The three countries then decided to leave Ecowas to form the Alliance of Sahel States.

    As a neutral actor whose non-interference policy accommodates both civil and military regimes, Beijing is in a position to bring Ecowas and the Alliance of Sahel States into negotiation before the final departure date of 29 July 2025.

    If it succeeds, China would look more like a peaceful power, an image that is contested by others.

    Building on its soft power projects like the Confucius Institutes and scholarships, China would look like the “saviour” of Ecowas integration.

    This is what it did in the case of the Tazara railway project, where China supported Tanzania and Zambia to build a railway line together. It supported the African countries when the US and Europe had failed, were reluctant or were not interested.

    Third is Chinese arms sales.

    Chinese arms are already in the Sahel. In 2019, Nigeria signed a US$152 million contract with the China North Industries Corporation Limited (Norinco) to provide some of the weapons needed to fight the Boko Haram terror group. Since then, Chinese drones and other equipment have become a feature in Nigeria’s counter-terrorism response.

    The Chinese arms market could receive a major boost beyond Nigeria with the withdrawal of western countries from the Sahel. Western countries are likely to be reluctant to sell arms to the countries that have evicted their military.

    Sanctions on Russia have also increased the likelihood of Chinese arms in the Sahel.

    For example, a few months after France and the US left the region, some reports suggested that Russian mercenaries in the Sahel region were using Chinese weapons. Norinco – China’s top arms manufacturer and seventh largest arms supplier in the world – has opened sales offices in Nigeria and Senegal.

    In June 2024, Burkina Faso received 100 tanks from China. Three months after, Mali signed an agreement with Norinco to bolster its fight against terrorism.

    Bumpy road ahead

    China’s non-interference can accommodate both civil and military governments in the Sahel. This is an advantage for Beijing in some ways. But it could also have unexpected impacts.

    There are competing local interests in the Sahel and Beijing’s deepening involvement could be (mis)interpreted as supporting one over the other.

    This could make Chinese interests a target in the violence.

    It is also unclear if China is capable or willing to fill the vacuum created by the evicted western powers. But it looks as though China can benefit from the situation in the Sahel in the short term.

    – Power vacuum in west Africa’s Sahel: 3 ways China could fill the gap as west exits
    – https://theconversation.com/power-vacuum-in-west-africas-sahel-3-ways-china-could-fill-the-gap-as-west-exits-248353

    MIL OSI Africa –

  • MIL-OSI Global: Russia’s shrinking world: The war in Ukraine and Moscow’s global reach

    Source: The Conversation – USA – By Ronald H. Linden, Professor Emeritus of Political Science, University of Pittsburgh

    Russia President Vladimir Putin sent a guarded message of congratulations to Donald Trump on inauguration day, but then held a long direct call with his “dear friend,” Chinese leader Xi Jinping.

    From Putin’s perspective, this makes sense. Russia gets billions of dollars from energy sales to China and technology from Beijing, but from Washington, until recently, mostly sanctions and suspicion.

    Moscow is hoping for a more positive relationship with the current White House occupant, who has made his desire for a “deal” to end the Ukraine war well known.

    But talk of exit scenarios from this 3-year-old conflict should not mask the fact that since the invasion began, Putin has overseen one of the worst periods in Russian foreign policy since the end of the Cold War.

    Transatlantic unity

    The war in Ukraine has foreclosed on options and blunted Russian action around the world.

    Unlike the annexation of Crimea in 2014, the 2022 invasion produced an unprecedented level of transatlantic unity, including the expansion of NATO and sanctions on Russian trade and finance. In the past year, both the U.S. and the European Union expanded their sanction packages.

    And for the first time, the EU banned the re-export of Russian liquefied natural gas and ended support for a Russian LNG project in the Arctic.

    EU-Russian trade, including European imports of energy, has dropped to a fraction of what it was before the war.

    The two Nordstrom pipelines, designed to bring Russian gas to Germany without transiting East Europe, lie crippled and unused. Revenues from energy sales are roughly one-half of what they were two years ago.

    At the same time, the West has sent billions in military and humanitarian aid to Ukraine, enabling a level of resilience for which Russia was unprepared. Meanwhile, global companies and technical experts and intellectuals have fled Russia in droves.

    While Russia has evaded some restrictions with its “shadow fleet” – an aging group of tankers sailing under various administrative and technical evasions – the country’s main savior is now China. Trade between China and Russia has grown by nearly two-thirds since the end of 2021, and the U.S. cites Beijing as the main source of Russia’s “dual use” and other technologies needed to pursue its war.

    Since the start of the war in Ukraine, Russia has moved from an energy-for-manufactured-goods trade relationship with the West to one of vassalage with China, as one Russia analyst termed it.

    Hosting an October meeting of the BRICS countries – now counting 11 members, including the five original members: Brazil, Russia, India, China and South America – is unlikely to compensate for geopolitical losses elsewhere.

    Russian President Vladimir Putin and China President Xi Jinping toast their friendship in March 2023.
    Pavel Byrkin/AFP via Getty Images

    Problems at home …

    The Russian economy is deeply distorted by increased military spending, which represents 40% of the budget and 25% of all spending. The government now needs the equivalent of US$20 billion annually in order to pay for new recruits.

    Russian leaders must find a way to keep at least some of the population satisfied, but persistent inflation and reserve currency shortages flowing directly from the war have made this task more difficult.

    On the battlefield, the war itself has killed or wounded more than 600,000 Russian soldiers. Operations during 2024 were particularly deadly, producing more than 1,500 Russian casualties a day.

    The leader who expected Kyiv’s capitulation in days now finds Russian territory around Kursk occupied, its naval forces in the Black Sea destroyed and withdrawn, and its own generals assassinated in Moscow.

    But probably the greatest humiliation is that this putative great power with a population of 144 million must resort to importing North Korean troops to help liberate its own land.

    … and in its backyard

    Moscow’s dedication to the war has affected its ability to influence events elsewhere, even in its own neighborhood.

    In the Caucasus, for example, Russia had long sided with Armenia in its running battle with Azerbaijan over boundaries and population after the collapse of the Soviet Union.

    Moscow has brokered ceasefires at various points. But intermittent attacks and territorial gains for Azerbaijan continued despite the presence of some 2,000 Russian peacekeepers sent to protect the remaining Armenian population in parts of the disputed territory of Nagorno-Karabakh.

    In September 2023, Azerbaijan’s forces abruptly took control of the rest of Nagorno-Karabakh. More than 100,000 Armenians fled in the largest ethnic cleansing episode since the end of the Balkan Wars. The peacekeepers did not intervene and later withdrew. The Russian military, absorbed in the bloody campaigns in Ukraine, could not back up or reinforce them.

    The Azeris’ diplomatic and economic position has gained in recent years, aided by demand for its gas as a substitute for Russia’s and support from NATO member Turkey.

    Feeling betrayed by Russia, the Armenian government has for the first time extended feelers toward the West — which is happy to entertain such overtures.

    Losing influence and friends

    Russia’s loss in the Caucasus has been dwarfed by the damage to its military position and influence in the Middle East. Russia supported the Syrian regime of Bashar al-Assad against the uprisings of the Arab Spring in 2011 and saved it with direct military intervention beginning in 2015.

    Yet in December 2024, Assad was unexpectedly swept away by a mélange of rebel groups. The refuge extended to Assad by Moscow was the most it could provide with the war in Ukraine having drained Russia’s capacity to do more.

    Russia’s possible withdrawal from the Syrian naval base at Tartus and the airbase at Khmeimim would remove assets that allowed it to cooperate with Iran, its key strategic partner in the region.

    More recently, Russia’s reliability as an ally and reputation as an armory has been damaged by Israeli attacks not only on Hezbollah and other Iranian-backed forces in Lebanon and Syria, but on Iran itself.

    Russia’s position in Africa would also be damaged by the loss of the Syrian bases, which are key launch points for extending Russian power, and by Moscow’s evident inability to make a difference on the ground across the Sahel region in north-central Africa.

    Dirty tricks, diminishing returns

    Stalemate in Ukraine and Russian strategic losses in Syria and elsewhere have prompted Moscow to rely increasingly on a variety of other means to try to gain influence.

    Disinformation, election meddling and varied threats are not new and are part of Russia’s actions in Ukraine. But recent efforts in East Europe have not been very productive. Massive Russian funding and propaganda in Romania, for example, helped produce a narrow victory for an anti-NATO presidential candidate in December 2024, but the Romanian government moved quickly to expose these actions and the election was annulled.

    Nearby Moldova has long been subject to Russian propaganda and threats, especially during recent presidential elections and a referendum on stipulating a “European course” in the constitution. The tiny country moved to reduce its dependency on Russian gas but remains territorially fragmented by the breakaway region of Transnistria that, until recently, provided most of the country’s electricity.

    Despite these factors, the results were not what Moscow wanted. In both votes, a European direction was favored by the electorate. When the Transnistrian legislature in February 2024 appealed to Moscow for protection, none was forthcoming.

    When Moldova thumbs its nose at you, it’s fair to say your power ranking has fallen.

    Wounded but still dangerous

    Not all recent developments have been negative for Moscow. State control of the economy has allowed for rapid rebuilding of a depleted military and support for its technology industry in the short term. With Chinese help and evasion of sanctions, sufficient machinery and energy allow the war in Ukraine to continue.

    And the inauguration of Donald Trump is likely to favor Putin, despite some mixed signals. The U.S. president has threatened tariffs and more sanctions but also disbanded a Biden-era task force aimed a punishing Russian oligarchs who help Russia evade sanctions. In the White House now is someone who has openly admired Putin, expressed skepticism over U.S. support for Ukraine and rushed to bully America’s closest allies in Latin America, Canada and Europe.

    Most importantly, Trump’s eagerness to make good on his pledge to end the war may provide the Russian leader with a deal he can call a “victory.”

    The shrinking of Russia’s world has not necessarily made Russia less dangerous; it could be quite the opposite. Some Kremlin watchers argue that a more economically isolated Russia is less vulnerable to American economic pressure. A retreating Russia and an embattled Putin could also opt for even more reckless threats and actions – for example, on nuclear weapons – especially if reversing course in Ukraine would jeopardize his position. It is, after all, Putin’s war.

    All observers would be wise to note that the famous dictum “Russia is never as strong as she looks … nor as weak as she looks” has been ominously rephrased by Putin himself: “Russia was never so strong as it wants to be and never so weak as it is thought to be.”

    Ronald H. Linden has in the past received funding from Fulbright, DAAD, German Marshall Fund, National Council for Eurasian and East European Research, Woodrow Wilson Center, US Institute of Peace.

    – ref. Russia’s shrinking world: The war in Ukraine and Moscow’s global reach – https://theconversation.com/russias-shrinking-world-the-war-in-ukraine-and-moscows-global-reach-247754

    MIL OSI – Global Reports –

  • MIL-OSI: Parker Announces Retirement of EMEA President Joachim Guhe, Appoints Thomas Ottawa as Successor

    Source: GlobeNewswire (MIL-OSI)

    CLEVELAND, Feb. 10, 2025 (GLOBE NEWSWIRE) — Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that Joachim Guhe, President – Europe, Middle East and Africa (EMEA) Group, will retire after 32 years of dedicated service. Mr. Guhe will step down from his current role on June 30, 2025, but continue with the company until August 31, 2025, to ensure a successful leadership transition.

    The company has appointed Thomas Ottawa, currently Vice President of Operations – Motion Systems Group Europe, to succeed Mr. Guhe as President – Europe, Middle East and Africa (EMEA) Group, effective July 1, 2025.

    “In the more than three decades he spent with us, Joachim progressed from an entry level role to head of the critically important EMEA region, and then led EMEA through improvements that drove operational excellence and led to significant growth and margin expansion,” said Andy Ross, President and Chief Operating Officer. “In addition to his many contributions over the years, we thank Joachim for a career that exemplifies Parker leadership and wish him the very best in retirement.” 

    Mr. Guhe joined Parker in 1993 as a Product Cost Accountant in Bielefeld, Germany. He progressed through increasingly senior roles across Parker’s Fluid Connectors, Engineered Materials and Filtration Groups, including as division General Manager and Vice President of Operations. In his current role as EMEA President, he has been responsible for leading Parker’s sales companies and commercial operations in the region, as well as its HR, Finance, IT, Marketing and Supply Chain functions. 

    Commenting on Mr. Ottawa’s new role as President for the EMEA Region, Mr. Ross said, “Thomas will take on this important leadership role with nearly 30 years of Parker experience, a deep knowledge of our global operations and a proven record of success.” He added, “We are highly confident the EMEA region will continue to thrive under his guidance and are fortunate to have such a strong leader to drive our performance to even greater levels.”

    Mr. Ottawa joined Parker in 1995 as a Graduate Trainee with the Fluid Connectors Group Europe, where he held positions of increasing responsibility, including as division General Manager. He became General Manager of the Prädifa Technology Division in 2015. Mr. Ottawa was promoted to his current role as Vice President of Operations – Motion Systems Group EMEA in 2019 and has been instrumental in improving the group’s financial performance and driving profitable growth in the region. In his new role as EMEA President, he will oversee nearly 14,000 team members across 22 countries. He holds a Master’s degree in Mechanical Engineering from the University of Bochum in Germany.

    About Parker Hannifin
    Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at www.parker.com or @parkerhannifin.

    ###

    The MIL Network –

  • MIL-OSI: Imperial Petroleum Inc. Announces the Date for the Release of Fourth Quarter and Twelve Months 2024 Financial and Operating Results, Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    ATHENS, Greece, Feb. 10, 2025 (GLOBE NEWSWIRE) — Imperial Petroleum Inc. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services, announced today that it will release its fourth quarter and twelve months financial results for the period ended December 31, 2024 before the market opens in New York on February 13, 2025.

    On February 13, 2025 at 10:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations and outlook.

    Conference Call details:

    Conference call participants should pre-register using the below link to receive the dial-in numbers and a personal PIN, which are required to access the conference call.

    Online Registration:

    https://register.vevent.com/register/BI127dcd86b3bd4efc8d71152e3b8a8800

    Slides and audio webcast:

    There will also be a live and then archived webcast of the conference call, through the IMPERIAL PETROLEUM INC. website (www.imperialpetro.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

    ABOUT IMPERIAL PETROLEUM INC.

    IMPERIAL PETROLEUM INC. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of twelve vessels on the water – seven M.R. product tankers, two suezmax tankers and three handysize drybulk carriers – with a total capacity of 751,000 deadweight tons (dwt), and has contracted to acquire an additional seven drybulk carriers of 443,000 dwt aggregate capacity. Following these deliveries, the Company’s fleet will count a total of 19 vessels. IMPERIAL PETROLEUM INC.’s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols “IMPP” and “IMPPP,” respectively.

    Company Contact:
    Fenia Sakellaris
    IMPERIAL PETROLEUM INC.
    info@imperialpetro.com

    The MIL Network –

  • MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to Liberia: Ameer Kotecha

    Source: United Kingdom – Executive Government & Departments

    Mr Ameer Kotecha has been appointed His Majesty’s Ambassador to the Republic of Liberia.

    Mr Ameer Kotecha has been appointed His Majesty’s Ambassador to the Republic of Liberia in succession to Mr Neil Bradley who will be transferring to another Diplomatic Service appointment.  Mr Kotecha will take up his appointment during April 2025.

    Curriculum vitae         

    Full name: Ameer Kotecha

    Year Role
    2023 to present  Ekaterinburg, HM Consul General
    2022 to 2023 FCDO, Full time language training (Russian)
    2021 to 2022  FCDO, Head of Engagement and Programmes Team, Counter Daesh Communications Cell
    2020 to 2021 Hong Kong, Vice Consul
    2018 to 2020  FCO, Senior Desk Officer, West Africa Department
    2017 to 2018  New York, Second Secretary Africa and Peacekeeping
    2016 to 2017 FCO, Kidnaps and Incidents Case Manager, Counter Terrorism Department
    2015 to 2016  FCO, Deputy Head Libya Team, North Africa Joint Unit
    2015  Joined FCO
    2013 to 2015 Financial Analyst, AgDevCo

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Stoke-on-Trent children’s services to exit Government intervention following significant transformation

    Source: City of Stoke-on-Trent

    Published: Monday, 10th February 2025

    Stoke-on-Trent City Council’s Children and Families service will exit government intervention.

    It comes after achieving substantial improvements in outcomes for children and families.

    The Department for Education (DfE) has confirmed consistent progress and recommended lifting the intervention – which has been in place since 2019.

    The intervention followed an Ofsted inspection that rated the service as ‘Inadequate’. A subsequent inspection in October 2022 saw the service rated as ‘Requires Improvement’, highlighting significant advancements. There were key improvements in services for individuals or professionals to report concerns or request support and in outcomes for children in care. Follow-up visits have demonstrated continued, sustained improvement.

    The DfE review outlines several key achievements:

    • The number of children in care is at its lowest level in 18 months, with fewer children on Child Protection plans.
    • The quality of social work practice has remained strong, with an increasing number of audits rated ‘Good’.
    • Early support services are now more effective at preventing issues from escalating.
    • Stronger partnerships with local agencies are ensuring families receive the tailored support they need, with a clear focus on community-based solutions.
    • A robust leadership team continues to drive positive change and improvement.

    The city council’s focus on early intervention and partnership working has been fundamental in reducing the number of children in care and making sure that families receive the right support at the right time.  

    Councillor Sarah Hill, cabinet member for children’s services at Stoke-on-Trent City Council, said: “This is a significant milestone for services for children and families in Stoke-on-Trent. We’ve made great progress, and we’re pleased to be moving forward without government intervention. 

    “The Family Matters programme has been central to this transformation, providing families with the early support they need to thrive. 

    “While we recognise there is still work to be done, I am confident that under the leadership of our incoming Corporate Director, Neil Macdonald, we will continue to build on this momentum, ensuring every child in Stoke-on-Trent gets the care and support they deserve.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: City’s latest young poets unveiled at major literature festival

    Source: City of Wolverhampton

    Young Poet Laurate Agneta Krieva, from Ormiston SWB Academy, and Primary Poet Champion Florence Ehigie, from SS Mary & John’s Primary Academy, were chosen from dozens of budding poets after winning a competition organised by Wolverhampton’s library service.

    This year, children and young people are asked to write a poem about friendship entitled ‘Life is better with friends’.

    Councillor Obaida Ahmed, the City of Wolverhampton Council’s Cabinet Member for Digital and Community, said: “For the past five years, our library service has been running this competition with local schools and each year the quality and presentation of the poems has been fantastic.

    “This year was no exception, and I would like to congratulate Agneta and Florence on becoming our newest Young Poet Laureate and Primary Poet Champion respectively. They now have the chance to have their voices heard by thousands of people across the city.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: The iconic Austin 7 is back

    Source: Anglia Ruskin University

    By Tom Stacey, Anglia Ruskin University

    In perhaps one of the greatest brand comeback stories in automotive since the Fiat 500 in 2007, British car company Austin announced the return of the Austin Arrow.

    Its name is an unashamed reference to one of the most memorable Austin 7 models – first introduced in the 1920s the Arrow was the original “everyman sportscar”, before the muscle cars (think of the Dodge Challenger) of the US became popular in the 1960s. Now reimagined as an electric Vehicle (EV), the Arrow is designed and made in the UK and aims to be to 2020s consumers what the original was 90 years ago.

    A number of cars are synonymous with the British car industry. In fact, as a small nation, Britain punches above its weight when it comes to classic automobile brands – The Mini, the Range Rover, London black cabs, James Bond’s Aston Martins, and even the London red bus. However, if one car can be credited for creating the dawn of the motor vehicle in the UK, it would be the diminutive Austin 7.

    The car was created in the 1920s at the time when Austin was struggling. New laws were pushing manufacturers to produce smaller, less powerful cars. But Austin’s board of directors didn’t support a cheap, small car with low profit margins. Austin was known for its larger, luxury products.

    However, Sir Herbert Austin and his 18-year-old apprentice Stanley Edge decided to secretly create a small car. Thank god they didn’t heed the board, because they ended up creating the greatest democratising automotive product Britain had ever seen (until they repeated it with the Austin Mini).

    The reason why products such as the Austin 7 come to define their period is rarely due to their technical prowess or exhilarating performance – it’s because they bring to the masses a technology that is both useful and traditionally seen as out of reach.

    The Austin 7 was a bit like the iPhone. There were smartphones that came before it, like the Sony Ericsson p800. However, these were considered expensive and out of reach for the average consumer. The Iphone did the same thing but at a cheaper price and so came to be the definitive smartphone.

    With the Austin 7, Herbert Austin’s team applied the key lessons from Ford’s Model T – creating a simple, modestly powered car with just enough features for mass appeal while incorporating clever design elements that earned the respect of car enthusiasts.

    When the Austin 7 was unveiled in July 1922, it was priced at just £165, when an Austin 20 was between £600 and £700. At a time when the average British worker earned around £5 per week, the only real affordable car had been Ford’s basic and utilitarian Model T at around £250.

    The 7’s ingenious design was the key to its success. With a shared base frame for the car, it could be a four-seater family car, a stylish coupe, or even a racing car.

    This cheap, tiny car not only was a legend in its own right and familiar around the world, but it influenced other legends too.

    Colin Chapman, the founder of Lotus Cars, based his first Lotus 1 on the Austin 7. What is less known is that German car manufacturer BMW built Austin 7s under licence in the 1920s and 30s but called them “Dixis”. Nissan did the same in Japan in the pre-war period. Such licensing deals helped set up both manufacturers’ future success as the powerhouses they are today.

    Austin 7s were produced all over Europe, Asia and even in Australia. The 7 was also produced in the US as the “American Bantam” and its design contributed to the “Willy’s Jeep”, one of the US’s most famous vehicles.

    Ultimately, the beginning of the second world war marked the end of Austin 7 production as the Austin factory at Longbridge, near Birmingham, needed to be repurposed to produce munitions. When the war ended, tastes for vehicles had changed and factories started to produce more modern designs, and not those from the 1920s, marking the end of a British automotive icon in 1939.

    Now it’s back, thanks to the engineer John Stubbs who bought the Austin brand after noticing the brand and trademarks were available. The rights to these had been owned by the Nanjing Automobile Group, which bought MG Rover when it collapsed in 2005. However, Nanjing had let these lapse and Stubbs bought them for £170 in 2015.

    The new Essex-based Austin Motor Company aims to recreate this classic brand, tugging at the heartstrings of those looking nostalgically at Britain’s automotive heyday. The announcement featured images of fun, cheap (£31,000) and light cars driving around the B-roads of Britain, or perhaps being taken to a racetrack for an amateur competition, harking back to earlier days. However, this car is thoroughly modern, featuring an electric motor.

    The new Austin Arrow is not meant to be the usable “everyman” car the original 7 was. For starters, to be compliant with quadricycle (a micro car with less than 6kW of power and an unladen mass no more than 425 kg) legislation it is limited to 60mph as a top speed and the range will be a maximum of 100 miles on one charge.

    However, as that fun, racy, open-top car that it’s predecessors were, it very much captures the spirit of the original Austin 7 Arrow.

    Tom Stacey, Deputy Head of the School of Economics, Finance and Law, Anglia Ruskin University

    This article is republished from The Conversation under a Creative Commons license. Read the original article.

    The opinions expressed in VIEWPOINT articles are those of the author(s) and do not necessarily reflect the views of ARU.

    If you wish to republish this article, please follow these guidelines: https://theconversation.com/uk/republishing-guidelines

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: ARU studies the health benefits of herring eggs

    Source: Anglia Ruskin University

    Anglia Ruskin University (ARU) is partnering with Norwegian biotechnology company Arctic Bioscience to carry out the largest research project to date exploring how nutrients derived from fish eggs can support a healthy and active lifestyle across all ages.

    Omega-3 fatty acids are essential nutrients that can play an important role in maintaining overall health. However, the general population typically consumes few foods that are rich in omega-3, such as oily fish.

    The new three-year project, called Active Romega, is investigating the benefits of omega-3 phospholipid fish oil and proteins derived from herring roe, which are the eggs of the fish. Unlike other omega-3 supplements, herring roe omega-3 contains a higher concentration of docosahexaenoic acid (DHA) and specialised pro-resolving mediators (SPMs).

    DHA and SPMs have been shown to have potent anti-inflammatory effects and are also believed to benefit muscle function, metabolism, and cognitive function, which are all key to supporting a healthy lifestyle. 

    The Active Romega project comprises two distinct research strands led by Anglia Ruskin University (ARU) PhD students Dani Dalmay and Jorge Pinto. These are exploring the effects of herring roe omega-3 on exercise metabolism and recovery, specifically focusing on active females, and how herring roe omega-3 can support the healthy ageing process in older adults.

    The overall project is being led by Dr Sanjoy Deb, Associate Professor in Exercise and Nutritional Science at Anglia Ruskin University (ARU).

    “The use of fish oils has shown promise across various health parameters, with emerging research indicating particular benefits for women and in supporting healthy ageing.

    “This new partnership with Arctic Bioscience allows us to undertake robust research to explore the public health benefits of herring-derived omega-3, alongside exercise. This will be the first time this specific type of omega-3 has been tested to investigate its benefits in these areas.

    “One of the reasons herring roe omega-3 is unique is its higher concentration of DHA [docosahexaenoic acid] compared to EPA [eicosapentaenoic acid] – most fish oils have more EPA than DHA – and the oil is naturally rich in the metabolites of DHA and EPA, namely specialised pro-resolving mediators such as resolvins, protectins and maresins. Herring roe omega-3 also has a phospholipid chemical structure, rather than a more typical triglyceride structure.

    “Some studies suggest better absorption and improved health outcomes from marine-based phospholipids, although research is still in its infancy. Our Active Romega project should contribute significantly to this area of research.”

    Dr Sanjoy Deb 

    “Arctic Bioscience is honoured to be a part of this project with Anglia Ruskin. We have been working with herring roe phospholipids and proteins for many years now, both in the nutraceutical and pharmaceutical field, and see many potential health benefits for their use in sports nutrition.”

    Hogne Hallaråker, founder and Chief Science Officer of Arctic Bioscience 

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Derby Libraries awarded grant by The National Lottery Heritage Fund

    Source: City of Derby

    Derby City Council’s Derby Libraries team will receive a £130,000 grant from The National Lottery Heritage Fund. 

    The money will fund a two-year project at Derby Local Studies and Family History Library to encourage greater use of the library and create a fun way for young people to engage with their local heritage.

    The exciting project will see young volunteers create a fantasy role-playing game, based on Dungeons and Dragons from Wizards of the Coast. They’ll work alongside library staff, a games-master and a range of professional creatives to uncover stories from the library’s collection and weave them into the game.

    The two-year project, made possible thanks to National Lottery players, will include the production of video shorts and podcasts to introduce and follow the game, while the library will host a range of family-friendly activities and events that tie in too.
     
    Eventually, people will be able to download a game pack to allow them to play themselves. There will also be a club at the library with support people to play the game, welcome new players and even research new characters, locations and adventures to expand the game world.

    Councillor Sarah Chambers, Derby City Council Cabinet Member for Cost of Living, Equalities and Communities, said:

    We are thrilled to have received this support from The National Lottery Heritage Fund.

    Thanks to National Lottery players, we’ll be able to broaden access to the library’s collections, engage new audiences with their history and retell stories that would otherwise remain unheard.

    The Local Studies library holds a unique and rich collection of paper materials on Derby and Derbyshire – its people, communities, topography, history and development.

    Unpublished manuscripts, old newspapers, photographs, broadsides and antiquarian books sit alongside more recent publications and official information, forming an unmatched and irreplaceable record of our city’s heritage.

    More details of the project and how to get involved will be available later this year. To stay updated, sign up for the Derby Libraries eNewsletter on the Derby Libraries website.

    MIL OSI United Kingdom –

  • MIL-OSI: Viridien: Information on the total number of voting rights and shares

    Source: GlobeNewswire (MIL-OSI)

    Viridien

    A French société anonyme
    with a share capital of € 7,161,465
    Registered office: 27 avenue Carnot, 91300 Massy, France
    Evry Trade and Companies Register 969 202 241

    Information on the total number of voting rights and shares

    Pursuant to Article L. 233-8 II of the French Commercial Code and Article 223-16 of the General Regulation of the French Financial markets authority
    (AMF- Autorité des Marchés Financiers)

    Date of the information Total number of issued shares Number of actual voting rights* Number of theoretical voting rights**
    January 31, 2025 7,161,465 7,186,734 7,186,983

    *         All of the Company shares have the same voting rights, except for treasury shares which do not have voting rights and registered shares held for more than two years, which have double voting rights.

    **         Pursuant to Article 223-11 of the General Regulation of the French Financial markets authority, the number of theoretical voting rights is calculated based on the shares having either single or double voting rights, including treasury shares which are deprived of voting rights.

    Attachment

    The MIL Network –

  • MIL-OSI: ASM named in CDP’s ‘A List’ for climate and water

    Source: GlobeNewswire (MIL-OSI)

    Almere, the Netherlands
    February 10, 2025

    ASM has been awarded CDP’s prestigious ‘A List’ ranking for both climate and water reporting, recognizing its corporate sustainability leadership, performance, and transparency.

    This is the first time ASM has achieved A List status with the global environmental non-profit, CDP, the organization that runs the world’s most recognized environmental disclosure system and sets the standard for environmental reporting. From over 22,000 annual reporting submissions this year, CDP has awarded its highest A List ranking to only a select group of companies demonstrating the strongest sustainability leadership.

    ASM is among very few companies in the semiconductor industry to score an A in CDP’s 2024 assessment, with even fewer reaching the A List for both climate and water. This marks a significant milestone in our sustainability journey and is a testament to our continued commitment to environmental progress.

    ASM has been reporting into CDP for thirteen consecutive years, consistently strengthening our environmental strategy and performance. In 2024, we reached 100% renewable electricity across our global operations, reinforcing our commitment to sustainable business practices.

    Inclusion in CDP’s prestigious A List highlights the strides we have made in reducing our operational carbon footprint and exemplifies our focus on meaningful climate action. In addition to decarbonizing our own operations, we are investing in research and development to enhance the energy efficiency of our deposition equipment, enabling our customers to reduce their energy consumption while maintaining high-performance production capabilities. This ensures our technologies contribute to lower emissions in semiconductor manufacturing and the broader tech ecosystem.

    In 2021, ASM published an ambitious target of reaching net zero by 2035. In 2023, ASM’s net zero target was approved by the Science Based Targets Initiative (SBTi), a first in the semiconductor industry. ASM’s Climate Transition Plan, released in early 2024, details how we target to achieve this goal by decarbonizing our products, optimizing our operations, and collaborating with our value chain to drive sustainability improvements to ensure ASM remains at the forefront of sustainable innovation.

    As ASM expands, we are focused on achieving green standards such as LEED building certification, which rates buildings for energy efficiency and sustainability across multiple environmental aspects. Our new facility in Scottsdale, Arizona, which is currently in design, aims to reuse more than 80% of the water it consumes, significantly reducing ASM’s water footprint and supporting circular resource use.

    John Golightly, ASM VP of Sustainability remarked: “We are honored to receive this recognition for our efforts in climate and water. CDP’s A List is the gold standard for environmental reporting, so our inclusion for the first time is a proud moment, for our company and everyone who worked so hard on our sustainability journey. Our resolute focus on transparently reporting our progress has led us to this point and we will continue to push the boundaries of sustainable semiconductor manufacturing, with cutting-edge innovation and collaborative partnerships to create a greener, more resilient future. Accelerating Sustainability is a strategic objective at ASM for good reason. We believe our products and operations enable positive impact for society and our planet.” 

    About ASM International

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.

    Contact

    Investor and media relations

    Victor Bareño
    T: +31 88 100 8500
    E: investor.relations@asm.com

    		  

    Investor relations

    Valentina Fantigrossi
    T: +31 88 100 8502
    E: investor.relations@asm.com

    The MIL Network –

  • MIL-OSI Global: The EU was built for another age – here’s how it must adapt to survive

    Source: The Conversation – UK – By Francesco Grillo, Academic Fellow, Department of Social and Political Sciences, Bocconi University

    Shutterstock/gopixa

    To European Commission president Ursula von der Leyen, Europe is like a Volkswagen Beetle – an iconic car produced by a once-mighty German manufacturer which has been struggling to adapt to a new world.

    “Europe must shift gears,” she urged in a speech to business executives gathered in Davos, Switzerland at the beginning of the year. Yet, her call to arms failed to raise more than an eyebrow. After all, she has repeated the same call many times since she was elected six years ago. So far, there has been little result.

    The US president, Donald Trump, may now even be tempted to finish off the EU (the most developed of the world’s multilateral organisations) by dividing its members over the single market for trade. This arrangement is the cornerstone upon which the union was built, but can it withstand Trump’s attempts to play European nations off against each other in order to get the best deal for himself?

    The problem is that Trump is simply bringing to its most extreme consequences the weakness of a system that was built for stable times which are long gone. We urgently need a new idea, and it cannot be for a “United States of Europe”. That is a dream from the past that could not be more at odds with Europe’s current political climate.

    Mini unions

    Europe is unable to chart a path forward because it needs unanimity among its member states in order to make any major decision. Votes are not even weighted to reflect the different sizes of each of the club’s members.

    This is a weakness that would gradually cause the deterioration of any international organisation. But in the case of the EU, the crisis is more serious because member states have surrendered part of their decision power. As a result, if the EU cannot move quickly, even member states turn out to be paralysed.

    Viktor Orbán, the prime minister of Hungary, has often been singled out as the bad guy especially – this has happened every time the EU has tried to approve sanctions against Russia or aid to Ukraine. But examples of free riding abound even among the founding parties.

    For decades, France has resisted any attempt to reorganise the common agricultural policy that sends a third of the EU’s budget to farmers, many of them French. Italy has halted the ratification of the reform of the European stability mechanism that should protect states from financial instability, out of the assumption among part of the Italian electorate that this may compromise further sovereignty.

    Elsewhere, Germany’s constitutional court has derailed the reform of the EU electoral law that divides the election of the European parliament into a dysfunctional system of 27 national contests, because of the resistance of the German political system to any electoral law which is not proportional.

    We need to find a way to change all this. And the solution cannot be the rather abstract idea of a union that proceeds at different speeds, where the older members are supposed to be part of an inner circle. Nor is it feasible to expect the abolition of unanimous voting for the simple reason that to forgo unanimity, you need a unanimous vote.

    Instead, the EU should become the coordinator of multiple unions, each formed by the member states themselves around specific policies. A union might form around defence, for example, among member states which are ready for such a partnership, such as Poland, the Baltics and Finland.

    Another might bring together countries that wish to collaborate on large projects such as a pan-European high-speed train, or a fully integrated energy market that may allow Italy, France and Spain to save billions of euros and decarbonise more quickly.

    This is not entirely new. Arrangements like the euro and the free circulation of people (the Schengen area) follow this principle. Only a subset of EU nations are part of these projects, and offers have even been extended to join beyond the EU’s borders. Monaco is in the euro, for example, while Norway is in Schengen, despite neither being an EU member state.

    The problem with these unions is that they are incomplete. The complement to the monetary union is a recently reformed “stability pact” that leaves so many loopholes that 11 out of its 20 members do not comply. And even within Schengen, there are still no proper common borders. The result is continuous reciprocal accusations of exporting each other’s illegal migrants.

    The solution here is to fully share the levers within a certain policy area on terms which are more flexible and voluntary for the union’s members.

    The possibility of calm divorce

    Resilience is achieved through adaptability. Therefore, these new arrangements must make divorce between union members possible from the outset – and establish the terms of such a rupture in advance.

    And in the event of an extreme case, the other parties should also be able to ask one of the members to leave their union (so as to avoid being systematically held to ransom by a free rider). The current union treaty does contain a provision (article 50) that enables a member to leave, as the UK did – but if Brexit showed anything, it was that this mechanism has limited use at preventing a divorce from descending into chaos.

    People should always be part of these decisions, of course. When states decide to surrender some of their sovereignty to a larger organisation such as the EU, it changes the nature of the pact between the citizens of a country and the people who make decisions on their behalf. This evident truth has been ignored for decades as the EU has gradually been built from the top down.

    The European Union currently resembles the marriages we once had in Europe (until well into the 20th century), before it was acknowledged that they are a civil (not necessarily religious) contract that can be dissolved through divorce – not some divine construct that can never be undone.

    The marriage between EU countries is blighted by cheating and empty rhetoric. This is an issue we can no longer avoid if Europe wants to do more than just “shift gears”. The EU was the most successful political project of the 20th century. If it wants to continue to be so in the 21st, it has to learn to be flexible. Only those who can adapt survive.

    Francesco Grillo is Director of the think tank Vision. Vision is convenor of three global conferences on the future of the EU, climate change and AI .

    – ref. The EU was built for another age – here’s how it must adapt to survive – https://theconversation.com/the-eu-was-built-for-another-age-heres-how-it-must-adapt-to-survive-248811

    MIL OSI – Global Reports –

  • MIL-OSI Europe: ASIA/HOLY LAND – Israeli Jesuit David Neuhaus: the plan to remove Palestinians from Gaza feels like a kick in the stomach

    Source: Agenzia Fides – MIL OSI

    youtube

    Jerusalem (Agenzia Fides) – “We are in no hurry”. This is how US President Donald Trump yesterday offered an important detail regarding the plan for the reconstruction and development of the Gaza Strip under the direct control of the United States that he presented last week during the visit to Washington of Israeli Prime Minister Benjamin Netanyahu. Speaking to journalists aboard Air Force One that was taking him to New Orleans to watch the Superbowl, the US President said that Gaza must be thought of as “a large real estate site, and the United States will take possession of it, and develop it slowly, very slowly”, to bring “stability to the Middle East”.From Moscow, Kremlin spokesman Dmitry Peskov, when asked about the ‘Trump plan’ on Gaza, also took his time, reporting that “For now we do not know the details, so we must be patient”.On the other hand, Father David Neuhaus, interviewed by Fides, has no hesitation. For him, the conjectures circulating in recent days on the future of the Gaza Strip felt like “a kick in the stomach”.Israeli Jesuit and professor of Sacred Scripture, David Neuhaus was born in South Africa to German-Jewish parents who fled Germany in the 1930s, he was also in the past Patriarchal Vicar for the Hebrew-speaking Catholics and for the Pastoral Among Migrants.Father Neuhaus, what considerations can be made in view of the recent proposals that have emerged on the future of Gaza?DAVID NEUHAUS: Trump, the president of the United States has a vision for Gaza, which he shared with the world on February 4, 2025. Mr. Netanyahu, prime minister of Israel, was visiting him. It felt like a kick in the stomach. And I am not even a Palestinian. I am an Israeli.What in particular are you referring to?NEUHAUS: Trump’s boldly proclaimed plan is to transform the Gaza Strip from the heaps of rubble left by Israel’s military campaign, into a luxurious riviera. In that vision, there is no place for the people who call Gaza home. That population must be moved out (to where is far from clear). This is yet another stage in the removal of Palestinians from Palestine…Do you see what is happening as part of a process?NEUHAUS: Yes. It is a process that began long time ago. E che ha causato anche la concentrazione di popolazione palestinese nella Striscia di Gaza. It was back in 1947/1948 that the population of Gaza more than tripled with the influx of those expelled by the Israelis from their homes inside Israel, making Gaza one of the most densely populated areas in the world. Mr. Trump spoke only about Gaza but Mr. Netanyahu’s administration has already begun to work on the West Bank, sowing Gaza-like destruction in the cities of Jenin and Tulkarm. Thousands of Palestinians have already been expelled from their homes.Are the new ideas about the future of Gaza the only way to imagine the present and future of the Jewish state in the context of the current Middle East?NEUHAUS: Trump and Netanyahu’s vision is quite different from that of Peter Beinhart, a Jewish American journalist. I strongly recommend his latest book, “Being Jewish after the Destruction of Gaza: A Reckoning” as an antidote to the discourse coming from US and Israeli leadership. Beinhart reconstructs Jewish identity in the light of what has been happening in the past months, adamantly insisting that Israel’s only way forward is to ensure equality for all its citizens. Beinhart, whose parents were Jewish South Africans, has fully assimilated the message of the struggle against apartheid. Another prophetic voice, that of Israeli activist Orly Noy, the chair of the Israeli Information Center for Human Rights in the Occupied Territories B’tselem, proclaimed unequivocally: “The war will end only when Israeli society realizes that it is not only immoral but also impossible to secure our existence through the oppression and subjugation of another people — and that the people we imprison, bomb, starve, and rob of their freedom and land are entitled to the exact same rights as we are, down to the last note”. (GV) (Agenzia Fides, 10/2/2025)
    Share:

    MIL OSI Europe News –

  • MIL-OSI: Groundbreaking Formal Verification Further Enhances the Quality of CHERIoT-Ibex

    Source: GlobeNewswire (MIL-OSI)

    CAMBRIDGE, United Kingdom, Feb. 10, 2025 (GLOBE NEWSWIRE) — lowRISC C.I.C., the open silicon ecosystem organisation, today announced the addition of formal verification to the toolbox of open source design verification (DV) techniques used to ensure the commercial level quality of the Microsoft-created CHERIoT-Ibex core, the processor at the heart of the UKRI-funded Sonata™ platform.

    CHERIoT-Ibex pipeline with specification installed using a pipeline follower

    Prof. Tom Melham and Louis-Emile Ploix of the University of Oxford, and Alasdair Armstrong of the University of Cambridge, have created an extensive formal verification framework to establish observational equivalence, using unbounded proofs, between the hardware and the RISC-V International Sail specification of instruction behaviour. This greatly strengthens confidence in the design’s conformance to the specification. The verification uses the Cadence Jasper™ tool, along with new Sail support to automatically build a SystemVerilog reference model from the specification. They describe their work in a pre-print paper published on arXiv, and have collaborated with Microsoft to upstream this into the open source CHERIoT-Ibex repository.

    CHERIoT-Ibex is Microsoft’s open-source extension of lowRISC’s Ibex®, a 32-bit RISC-V processor. CHERIoT provides fine-grained memory protection for embedded systems, which deterministically mitigates over two thirds of memory vulnerabilities and enables efficient compartmentalization. Of course, it is critical that the hardware correctly implements the CHERIoT extension to ensure that the security guarantees it offers are valid. “Correct” implementation is defined in a standardised way for RISC-V using Sail. This is a domain-specific language which describes, in a formal but readable fashion, exactly what each processor instruction does.

    This new formal verification framework and proof developed by the University of Oxford, the University of Cambridge, and lowRISC takes the formal specification for CHERIoT — written in Sail — and checks that for any stream of instructions the CHERIoT-Ibex implementation performs the same memory operations. This equivalence checking is decomposed into multiple steps to help the tool converge, by first proving simple properties, then using those to prove more and more complex ones. It is important to note that the proofs developed as part of this work are different from the more common bounded proofs, where only a limited amount of system evolution is explored for counter-examples. By contrast, unbounded proofs hold true for all possible executions. While no single verification technique should be relied on in isolation, a formal proof (in combination with a traditional functional verification flow) significantly increases confidence in the design.

    Besides the work on CHERIoT-Ibex, lowRISC has also published an adaptation of this proof for regular Ibex (which of course also has extensive conventional DV), the main microprocessor core used in the OpenTitan® root of trust.

    “We’re thrilled to see the achievement of this milestone, demonstrating that well managed open-source silicon designs can not just match the DV quality of commercial IP, in some cases they’re beginning to lead the field,” said Dr. Gavin Ferris, CEO of lowRISC. “The successful formal verification of CHERIoT-Ibex exemplifies our Silicon Commons approach, bringing the best of industry, academia and the open source community together through collaborative engineering — and moving the game forward for everyone. Now, not only can companies bring products to market cheaper and faster by leveraging open-source silicon designs, they can do so with the strongest possible assurance that specification fidelity has been maintained. We’re proud to have worked with Microsoft, the University of Oxford, University of Cambridge and Cadence to help make this fantastic result possible.”

    “The CHERIoT-Ibex project has been an ideal challenge for our formal verification research at Oxford, which aims at both scientific innovation and strong real-world impact,” Professor Tom Melham and lead verification engineer Louis-Emile Ploix said. “We are delighted that our work has significantly helped to increase confidence in the commercial-grade quality of Microsoft’s CHERIoT-Ibex core, driven by the development of a new Sail to Verilog compiler by our colleagues at the University of Cambridge, and demonstrated new methodology for RISC-V formal verification. Our hope is that other RISC-V verification projects can substantially benefit from our experience, through our publications and open source formal verification code.”

    “We are excited to see this formal verification milestone, building on the Sail formal specifications of RISC-V, CHERI RISC-V, and CHERIoT developed by multiple partners over recent years,” said Professor Peter Sewell at the University of Cambridge. “This links formal specifications of the instruction set, previously used for architecture design, hardware testing, software development, and formal reasoning about software, all the way down to the detailed hardware design. The work shows that full formal verification is viable for such designs with reasonable effort.”

    “Finding and fixing bugs early in the design cycle is crucial to address the fast growing complexity of chip design. Formal verification is a key technology that allows teams to boost the functional verification productivity, reduce costs, improve quality, and ensure more reliable designs in less time,” Ziyad Hanna, Corporate Vice President of Cadence Design Systems, said. “We’re delighted that Cadence Jasper Formal Verification Platform has been instrumental in supporting this effort, contributing to the future of secure computing.”

    lowRISC would like to thank all the supporters of the Sunburst project, with special thanks to Microsoft for contributing the core CHERI implementation within the CHERIoT-Ibex processor and making it open source. “Microsoft is thrilled to upstream an extensive formal verification framework and proof to the open-source CHERIoT-Ibex repository. The CHERIoT-Ibex core augments lowRISC’s Ibex with the CHERIoT ISA extension,” said Tony Chen, Partner Security Architect at Microsoft. “The formal verification pioneered by Oxford University has instilled an unmatched level of confidence in the CHERIoT-Ibex core.”

    CHERIoT-Ibex is the processor core of Sonata which puts CHERI technology into the hands of embedded-system engineers. Sonata is part of the Sunburst project, which is funded by DSbD and UKRI (Grant Number 107540). The early, foundational work at Oxford on the formal verification of CHERIoT-Ibex was funded by DSbD and UKRI as part of the SCorCH project (EPSRC Grant Number EP/V000225/1).

    About lowRISC®
    Founded in 2014 at the University of Cambridge Department of Computer Science and Technology, lowRISC is a not-for-profit company/CIC that provides a neutral home for collaborative engineering to develop and maintain commercial-quality open source silicon designs and tools for the long term. The lowRISC not-for-profit structure combined with full-stack engineering capabilities in-house enables the hosting and management of high-quality projects like OpenTitan and Sunburst via the Silicon Commons® approach.

    Media Contact
    lowRISC@w2comm.com

    An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/432a234b-dca0-44be-9118-91ca2b8996c4

    The MIL Network –

  • MIL-OSI Security: Murder investigation launched after woman found dead in Hammersmith

    Source: United Kingdom London Metropolitan Police

    The Met has launched a murder investigation following the death of a 36-year-old woman in Hammersmith.

    Police were called to a residential property in Coulter Road, on Sunday, 9 February at 22:13hrs following reports that a man was attempting to force entry into one of the flats.

    Officers arrived and having gained entry to the property found a woman, aged 36 who had sadly died, following what appears to be a head injury.

    A 38-year-old man was arrested at the scene on suspicion of murder and remains in custody.

    Next of kin has yet to be informed. We await formal identification.

    A post-mortem examination will take place in due course.

    Officers are appealing for anyone with information or any witnesses to call 101 and quote CAD 6487/9Feb. To remain anonymous, please contact Crimestoppers on 0800 555 111.

    Detective Chief Inspector, Ollie Stride who is leading the investigation, said:

    “We are saddened to hear about the loss of this young woman and are working to ensure that her family are informed and supported by specialist officers as soon as possible.

    “I understand the impact this incident will have had on neighbours and the community and we are doing everything we can to investigate the circumstances.

    “Although we have made an arrest, we still need to have an understanding of what took place last night in Coulter Road. Did you see or hear anything unusual on Sunday, 9 February? If you did, then please speak with us by contacting 101, and quoting CAD 6487/9Feb. You can otherwise contact Crimestoppers on 0800 555 111.”

    MIL Security OSI –

  • MIL-OSI: D. Boral Capital Served as Co-placement Agent to MicroVision, Inc. (Nasdaq: MVIS) in Connection with its up to $17.0 Million Private Placement

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS solutions, today announced that it has bolstered its financial position by entering into an agreement to raise up to $17 million in new capital and reducing future cash obligations stemming from its $75 million senior secured convertible note facility with High Trail Capital.

    “Strengthening our financial position through this infusion of new capital and reduction of debt buoys our efforts to advance and secure revenue opportunities with several industrial customers in the heavy equipment segment. As announced last month, we have increased production capacity with our manufacturing partner to support high-volume orders from industrial customers in 2025 and beyond,” said Sumit Sharma, Chief Executive Officer of MicroVision, Inc. “At this exciting time for MicroVision, we continue to work to secure multiple partnerships with industrial customers, as well as advance our partnerships with automotive OEMs, with RFQs in flight and new RFQs expected in 2025. We appreciate High Trail’s partnership at this pivotal time.”

    Continued Sharma, “With our MAVIN and MOVIA S products, we remain actively engaged with global automotive OEMs in seven high-volume RFQs and custom development explorations for future passenger vehicle programs. With the size, power, and specifications of our lidar, combined with our integrated perception software, I believe we remain the solution frontrunner with automotive OEMs. Given automotive OEMs’ latest start-of-production timelines, the opportunity to ramp up significant recurring revenues in 2025 with our industrial customers puts MicroVision in the best position in the market. We remain the only multifaceted company with potential for significant revenues from the industrial segment starting in 2025 and much higher automotive revenues expected in the coming years.”

    “With the announcement of this transaction, our overall debt obligation has now been reduced by $12.25 million in principal or over 27% of the convertible note. In addition, this new round of equity investment by our strategic financing partner provides up to $17 million in new equity capital and also defers a portion of the remaining repayments. This bolsters MicroVision’s balance sheet and positions it well with its ongoing customer engagements,” said Anubhav Verma, Chief Financial Officer of MicroVision, Inc. “We believe that our strong balance sheet and strategic financing partner help to competitively position MicroVision for today’s marketplace and business outlook.”

    D. Boral Capital LLC and WestPark Capital, Inc. acted as co-lead agents for the transaction.

    Key Terms of the Transactions

    In connection with the $45 million senior secured convertible note issued by the Company on October 23, 2024, cash payments totaling approximately $9.6 million that would have been payable during the period from March 1, 2025 through May 1, 2025 will be converted into approximately 11.7 million shares of the Company’s common stock. In addition, pursuant to an agreement dated February 3, 2025, the note holder has agreed to defer payments due from June 1, 2025 to August 1, 2025, instead ratably allocating such payments to the payments due from September 1, 2025 through March 1, 2026. The Company and the note holder entered into a securities purchase agreement dated February 3, 2025 pursuant to which the Company issued approximately $8 million of shares of the Company’s common stock to the holder at a 12.5% discount to the market price and warrants to purchase up to an additional $9 million of common stock at an exercise price per share of $1.57, which warrants expire five years from the initial exercise date.

    Disclosures

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

    Additional information, including the full terms of the financing transaction, is available in the Current Report on Form 8-K filed by MicroVision with the U.S. Securities and Exchange Commission.

    About MicroVision

    With offices in the U.S. and Germany, MicroVision is a pioneering company in MEMS-based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software into its proprietary technology to address existing and emerging markets. The Company’s integrated approach uses its proprietary technology to provide automotive lidar sensors and solutions for advanced driver-assistance systems (ADAS) and for non-automotive applications including industrial, smart infrastructure and robotics. The Company has been leveraging its experience building augmented reality micro-display engines, interactive display modules, and consumer lidar modules.

    For more information, visit the Company’s website at www.microvision.com, on Facebook at www.facebook.com/microvisioninc, and LinkedIn at https://www.linkedin.com/company/microvision/.

    MicroVision, MAVIN, MOSAIK, and MOVIA are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.

    Forward-Looking Statements

    Certain statements contained in this release, including expected benefits and closing of financing transactions; customer engagement and the likelihood of success; opportunities for revenue and cash; market position; product volumes, performance and capabilities; and expected revenue, expenses and cash usage are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include the risk its ability to operate with limited cash or to raise additional capital when needed; market acceptance of its technologies and products or for products incorporating its technologies; the failure of its commercial partners to perform as expected under its agreements; its financial and technical resources relative to those of its competitors; its ability to keep up with rapid technological change; government regulation of its technologies; its ability to enforce its intellectual property rights and protect its proprietary technologies; the ability to obtain customers and develop partnership opportunities; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market its products; potential product liability claims; its ability to maintain its listing on The Nasdaq Stock Market, and other risk factors identified from time to time in the Company’s SEC reports, including the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed with the SEC. These factors are not intended to represent a complete list of the general or specific factors that may affect the Company. It should be recognized that other factors, including general economic factors and business strategies, may be significant, now or in the future, and the factors set forth in this release may affect the Company to a greater extent than indicated. Except as expressly required by federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.

    Contact Us:

    D. Boral Capital
    590 Madison Avenue, 39th Floor
    New York, NY 10022
    Main Phone: +1 (212) 970-5150
    www.dboralcapital.com
    info@dboralcapital.com

    The MIL Network –

  • MIL-OSI: NXP Agrees to Acquire Edge AI Pioneer Kinara to Redefine the Intelligent Edge

    Source: GlobeNewswire (MIL-OSI)

    • Enhances NXP’s leading processing portfolio with cutting edge NPUs and AI software, driving intelligent system solutions across the industrial and automotive edge markets.
    • Delivers high-performance neural network processing with advanced generative AI to create transformative edge use cases.
    • Establishes a scalable platform for AI-powered edge systems, combining NXP’s broad portfolio of processing, connectivity, security, and advanced analog solutions, with Kinara’s AI hardware and software.

    EINDHOVEN, the Netherlands, Feb. 10, 2025 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ: NXPI) today announced it has entered into a definitive agreement to acquire Kinara, Inc., an industry leader in high performance, energy-efficient and programmable discrete neural processing units (NPUs). These devices enable a wide range of edge AI applications, including multi-modal generative AI models. The acquisition will be an all-cash transaction valued at $307 million and is expected to close in the first half of 2025, subject to customary closing conditions, including regulatory clearances.

    The future of intelligent systems will require secure, cost-effective and energy efficient AI processing at the edge. As a result, the edge AI processing market is growing rapidly. Advanced AI at the edge enables critical decisions to be made locally and independently from the cloud, leading to faster responses, improved data privacy, and reduced costs.

    Kinara’s innovative NPUs and comprehensive software enablement deliver energy-efficient AI performance across a range of neural networks, including conventional AI, as well as generative AI, to address the rapidly growing AI needs of industrial and automotive markets. The acquisition will enhance and strengthen NXP’s ability to provide complete and scalable AI platforms, from TinyML to generative AI, by bringing discrete NPUs and robust AI software to NXP’s portfolio of processors, connectivity, security, and advanced analog solutions.

    As existing partners, Kinara and NXP make it easy to pair Kinara’s NPUs with NXP’s industry-leading portfolio of industrial and IoT processors. Together, the companies will create tighter integration of solutions to deliver scalable AI platforms for a variety of industrial and automotive AI inference needs.

    “The industrial market is going through a transformation, with new innovations like generative AI helping to deliver major improvements in efficiency, sustainability, safety and predictability, and in many instances, unlock new use cases and functionality,” said Rafael Sotomayor, executive vice president and general manager, Secure Connected Edge at NXP. “Adding Kinara’s AI capabilities to our broad intelligent edge portfolio creates a scalable platform for new classes of AI-powered systems. Together, we can help our customers simplify complexity and accelerate time to market as they create transformative AI systems.”

    Advancing Edge AI Innovation with Kinara Discrete NPUs
    Kinara’s discrete NPUs, including the Ara-1 and Ara-2, are among the industry leaders in performance and power efficiency. This makes them the preferred solution for emerging AI applications in vision, voice, gesture, and a variety of other generative AI-powered multi-modal implementations. Both devices feature an innovative architecture that enables mapping of the inference graphs for efficient execution on Kinara’s programmable proprietary neural processing units for maximizing edge AI performance. This programmability ensures adaptability as AI algorithms continue to evolve from CNNs to generative AI and new approaches such as agentic AI in the future.

    Ara-1 is the first generation discrete NPU, capable of advanced AI inferencing at the edge. Ara-2, capable of up to 40 TOPS (Tera Operations Per Second), the second generation NPU, is optimized for achieving system-level high performance for generative AI. The Ara-1 and Ara-2 NPUs can be easily integrated with embedded systems to enhance their AI capabilities, including upgrading existing in-field systems.

    Kinara also provides a complete software development kit enabling customers to optimize AI model performance and streamline the deployment. Kinara’s AI software portfolio includes extensive model libraries and model optimization tools, which will be integrated into NXP’s eIQ AI/ML software development environment to enable customers to quickly and easily create end-to-end AI systems.

    Embedded World 2025
    The combined innovations of NXP and Kinara will be on display at Embedded World 2025 in Nuremberg. For more information, visit NXP.com/EmbeddedWorld or visit NXP’s Booth #4A-222.

    Forward Looking Statements
    This document includes forward-looking statements which include statements regarding NXP’s acquisition of Kinara, Inc. as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after NXP distributes this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors and other cautionary statements included in NXP’s SEC filings. Copies of NXP’s SEC filings are available on NXP’s Investor Relation website, https://investors.nxp.com or from the SEC website, www.sec.gov.

    About NXP Semiconductors
    NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP’s “Brighter Together” approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $12.61 billion in 2024. Find out more at www.nxp.com.

    NXP, eIQ and the NXP logo are trademarks of NXP B.V. All other product or service names are the property of their respective owners. All rights reserved. © 2025 NXP B.V

    For more information, please contact:

    Americas & Europe Greater China / Asia 
    Phoebe Francis            Ming Yue
    Tel: +1 737-274-8177 Tel: +86 21 2205 2690
    Email: phoebe.francis@nxp.com Email: ming.yue@nxp.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/27fb23b7-451d-40a6-906f-9935570a1b44

    The MIL Network –

  • MIL-OSI United Kingdom: ACMD appoints new members

    Source: United Kingdom – Executive Government & Departments

    Four more experts have been appointed members to the Advisory Council on the Misuse of Drugs.

    Following the announcement of 10 leading experts joining the ACMD’s Advisory Council in January, 4 more appointments have been made today.

    • Professor Karen Ersche
    • Professor Sunjeev Kamboj
    • Doctor Lorna Nisbet
    • Jon Privett

    The 4 will be joining the ACMD which provides advice and makes recommendations to the government on the harms caused by drugs.

    Professor Ersche is Professor of Addiction Neuroscience at the Department of Psychiatry at the University of Cambridge, whilst Professor Kamboj is Professor of Translational Clinical Psychology at the Research Department of Clinical, Educational and Health Psychology at University College London.

    Doctor Nisbet is Senior Lecturer (teaching and research) at the Leverhulme Research Centre for Forensic Science, at the School of Science and Engineering, University of Dundee.

    Jon Privett will bring his extensive knowledge as an expert witness in drug trafficking with the Metropolitan Police to the ACMD.

    The appointments have been made in accordance with the Governance Code on Public Appointments.

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Senior IT service manager vacancy at MAIB

    Source: United Kingdom – Executive Government & Departments

    We have an exciting opportunity to join the technical department at MAIB, Southampton on a 6-month contract.

    The MAIB is looking for a senior IT service manager on a 6-month temporary contract.

    Applicants must have active SC clearance to apply.

    This is a hybrid role, requiring 3 days per week working in the MAIB office.

    For further information about the post and how to apply, go to: Senior IT Service Manager – Southampton, United Kingdom of Great Britain and Northern Ireland – 2436 – AMS PSR

    Closing date: Thursday 13th February 2025.

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Embaixada do Reino Unido abre ed. 2025 do Embaixadora Por um Dia

    Source: United Kingdom – Executive Government & Departments

    Mulheres de 18 a 25 anos, com histórico de engajamento social e interesse em política, poderão concorrer a uma experiência imersiva na diplomacia britânica.

    A Embaixada do Reino Unido no Brasil se prepara para lançar a edição 2025 do concurso cultural “Embaixadora Por um Dia”, uma iniciativa que celebra o Dia Internacional da Mulher e incentiva a participação feminina na política e nas relações internacionais.

    O concurso busca identificar jovens líderes mulheres (cis e trans) pretas, pardas ou indígenas, com idade entre 18 e 25 anos, que tenham interesse em diplomacia e engajamento político. A vencedora terá a oportunidade de vivenciar de perto a rotina diplomática, participando de reuniões, eventos e experiências imersivas na Embaixada do Reino Unido e em Brasília.

    Como participar

    As inscrições serão abertas em 10 de fevereiro de 2025. Para concorrer, as candidatas deverão produzir um vídeo de até 90 segundos, respondendo à pergunta:

    “Como o engajamento político pode transformar sua comunidade e o mundo?”

    Os vídeos deverão ser publicados no Instagram, com a hashtag #AmbassadorForADayUK, mencionando os perfis @UKinBrazil e @embaixadorabritanica. O perfil da participante deve estar público durante o período de avaliação.

    Quem pode participar?

    O concurso é destinado a mulheres que atendam aos seguintes critérios:

    • Idade entre 18 e 25 anos;
    • Pretas, pardas ou indígenas;
    • Ensino médio cursado em escola pública e/ou renda familiar de até três salários mínimos;
    • Interesse por política e relações internacionais;
    • Experiência em projetos sociais;
    • Passaporte válido e disponibilidade para viajar em março de 2025.

    O que a vencedora ganha?

    • Uma viagem surpresa de cinco dias para participar de reuniões diplomáticas;
    • Um dia na Embaixada do Reino Unido, acompanhando a Embaixadora britânica no Brasil;
    • Oportunidade de compartilhar ideias com líderes políticos;
    • Tour por Brasília/DF;
    • Custos de hospedagem, alimentação e deslocamento cobertos.

    Critérios de seleção

    A escolha da vencedora será baseada em criatividade, história de vida e engajamento com questões políticas e sociais. A seleção é subjetiva e busca reconhecer jovens que demonstrem potencial para promover mudanças positivas em suas comunidades.

    Para mais informações entre em contato com:

    Embaixada do Reino Unido no Brasil

    Mariana Luz – Gerente de Imprensa

    Mariana.luz@fcdo.gov.uk

    (61) 98187-8240

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: HIV Testing Week urges people to get tested regularly

    Source: City of Wolverhampton

    Run by HIV Prevention England, the annual event highlights how regular testing is helping to reduce the number of people living with undiagnosed HIV, or who are diagnosed late.

    Testing is free, quick and confidential, and the only way for people to know their HIV status. Anyone diagnosed with HIV will be able to access free treatment and support. Testing for HIV is also useful for HIV-negative people who are considering interventions such as PrEP (pre-exposure prophylaxis).

    Councillor Jasbir Jaspal, the City of Wolverhampton Council’s Cabinet Member for Adults and Wellbeing, said: “Testing has a key part to play in our efforts to stop HIV, and it’s a good idea to get checked once a year.

    “People can live with HIV for a long time without any symptoms, and an estimated 4,700 people are currently living with undiagnosed HIV in England.

    “If you have HIV, finding out means you can start treatment, stay healthy and avoid passing the virus onto anyone else. There are many ways to test – at a sexual health clinic, your GP or by ordering a test online, so please take up the offer this National HIV Testing Week.”

    Dr Prita Banerjee, Consultant/Clinical Director in Sexual Health and HIV at The Royal Wolverhampton NHS Trust, added: “It’s time we made every effort to end the stigma around HIV and normalised HIV testing for everyone.”

    To order free test kits, please visit It Starts With Me or Free Testing HIV.  For more information about HIV, and confidential and non-judgemental advice and support, please visit Embrace, the Wolverhampton sexual health service, at Embrace.

    National HIV Testing Week runs from today (Monday 10 February, 2025) until Sunday 16 February. For more details, visit HIV Prevention England.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Isle of Wight Council launches 2025 National Apprenticeship Week 10 February 2025 Today (10th February) marks the start of this year’s Apprenticeship Week.

    Source: Aisle of Wight

    Today (Monday 10th February) marks the start of this year’s Apprenticeship Week and the Isle of Wight Council celebrated by raising the apprenticeship flag outside County Hall alongside council staff and apprentices.

    Since the introduction of the apprenticeship levy in 2017, more than 500 council and maintained school staff have embarked on their apprenticeship journeys. These individuals have benefited from over 70 different apprenticeship programmes, showcasing the diverse opportunities available. In 2024 alone, the Isle of Wight Council invested over half a million pounds in apprenticeship programmes, all funded by the apprenticeship levy.

    This brings the total investment to over £2.25 million, emphasising a commitment to developing the island’s workforce and fostering professional growth. Councillor Jonathan Bacon, cabinet member for Children’s Services, Education and Corporate Functions, said: “We are incredibly proud to be able to provide islanders with professional opportunities like apprenticeships through the Apprenticeship Levy.”

    “Apprenticeships give people a chance to build on their skills, knowledge and confidence in their career journey, no matter the stage of their life or circumstances.”

    “Anyone over the age of 16 can do an apprenticeship, and I’d encourage everyone to make use of the resources provided during this year’s National Apprenticeship Week to find the one that suits you best.”

    Stay tuned to the Isle of Wight Council’s social media channels where we’ll be highlighting apprenticeship stories, sharing resources to get you started on your own apprenticeship journey and celebrate the achievements of current apprentices on the island.

    For more information on National Apprenticeship Week: https://nationalapprenticeshipweek.co.uk/

    To explore apprenticeship opportunities at the Isle of Wight Council: https://www.iow.gov.uk/council-and-councillors/jobs-and-careers/apprenticeships/

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Statement by President Meloni on day of remembrance for the victims of the Foibe massacres and the exodus from Istria, Rijeka and Dalmatia

    Source: Government of Italy (English)

    10 Febbraio 2025

    ‘Ricordare’, the Italian for ‘to remember’, means ‘to bring back to the heart’, or in other words, to place what is dearest to us back at the centre of our being.  Today, we ‘bring back to our hearts’ hundreds of thousands of stories, restoring the dignity they deserve. Today, we honour the memory of the martyrs of the Foibe massacres and once again embrace all our compatriots who chose to leave everything behind rather than give up their identity. Italians twice over: by birth and by choice. 

    On this day of remembrance, we bring back to our hearts each and every story of that tragedy, and renew a solemn promise. We will continue to write new pages in our history and to tell the younger generations about what happened to the people of Rijeka, Istria and Dalmatia. For their story does not belong to just a section of the border or what remains of the community of exiles; it belongs to the whole nation. It is a story that has overcome a conspiracy of silence and no attempt to deny or justify what happened will ever again be able to hide or erase it.

    [Courtesy translation]

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Growing Orkney’s renewables potential

    Source: Scottish Government

    Investment in significant offshore wind project.

    Ambitious plans to create a major new renewables hub in Orkney have been accelerated with a £5 million grant to help take the project to the next stage.

    The funding will further the development of a new harbour facility for the assembly of offshore wind turbines at Scapa Flow – the largest natural harbour in the northern hemisphere.

    The Scapa Deep Water Quay will help to attract inward investment to the area, creating a new, cutting edge hub for offshore wind – supporting the expansion of windfarms off the coast of Scotland and Europe.

    The grant comes from Highlands and Islands Enterprise and is part of the Scottish Government’s wider strategic investment of up to £500 million over five years to develop the offshore wind supply chain.

    Announcing the new funding whilst in Orkney, First Minister John Swinney said:

    “Accelerating Scotland’s offshore wind capabilities is crucial as we prioritise maximising Scotland’s vast potential in renewable energy. Not only are we striving to take our place at the forefront of the global green energy revolution, investments like this help us guarantee a just transition for our existing skilled workforce, maintaining their vital role in Scotland’s energy landscape.

    “This landmark project will help attract private investment in the area, creating new highly paid jobs and unlocking enormous economic opportunities for the Orkney Islands and Scotland as a whole. This is another example of how, together with local government and our partners, we are delivering on our collective priorities of growing the economy and protecting the planet.”

    Director of Strategic Projects at HIE David Oxley said:

    “Scotland has been at the forefront of renewable energy development and Orkney has been at the heart of this for the past 20 years. The proposed Scapa Deep Water Quay is set to help advance the industry to the next level It will help attract inward investment, create jobs and drive economic growth in Orkney, the Highlands and Islands and across Scotland, as well as contributing to the country’s net zero ambitions.

    “This funding for the PCSA will ensure the council has access to all the information it needs to make an informed decision and bring the project to the next stage.”

    Leader of Orkney Islands Council Councillor Heather Woodbridge said:

    “This funding award from HIE, demonstrates the Scottish Government’s understanding of the importance of the energy sector, not only here in Orkney but to Scotland as a whole.  Securing the funding unlocks the potential for Orkney – alongside the wider industry – to further explore and develop a vision for our role in the continued growth of renewable energy, and is reflective of the good work, prominence, and reputation of our islands in this.

    “Development of facilities in Scapa Flow could deliver considerable economic benefits to the area – especially as we look to counterbalance any potential downturn in the oil industry. Enhancing our marine capabilities and strengthening our capacity to support future industrial and commercial activities is key to this.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK-India defence agreements boost ‘Atmanirbhar Bharat’ ambition

    Source: United Kingdom – Government Statements

    The UK-India strategic partnership has taken another major step forward with the formal launch of Defence Partnership – India (DP-I) and the signing of several defence agreements at Aero India 2025.

    Announcing DP-I, UK Defence Minister Lord Vernon Coaker opened the UK-India Defence Partnership Pavilion, establishing a dedicated programme office within the UK’s Ministry of Defence that will serve as a one-stop shop for strengthening bilateral defence collaboration between the two countries.

    The UK and India have today agreed to expand their collaboration on next-generation weapons with Thales and Bharat Dynamics Limited (BDL). Thales and BDL have signed a contract that will deliver Laser Beam Riding MANPADs (LBRM), with an initial supply of High Velocity Missiles (STARStreak) and launchers to be delivered this year. This contract represents an important next step for UK-Indian defence co-operation in the critical area of air defence.

    Lord Vernon Coaker, UK Defence Minister, said:

    It was a pleasure to visit India and continue to grow our already strong defence relationship. Our Defence Partnership and the UK-India Defence Partnership Pavilion will help strengthen our cooperation further, supporting economic growth in both our countries and India’s Atmanirbhar ambition.

    This event showcases our collaboration in next generation capability, and the massive potential the UK and India can unlock by working together.

    Following the signing of this initial LBRM contract, both Thales and BDL will further collaborate to produce Lightweight Multirole Missiles (LMM). This develops and expands the partnership between Indian and British industry, laying the foundation for BDL and Indian industry to form an integral part of Thales’ global supply chain. It will address mutual security concerns, create jobs in both countries and enable interoperability by both armies.

    Lindy Cameron, British High Commissioner to India, said:

    India is taking significant steps in its journey to become Atmanirbhar in its defence capabilities. The UK is really looking forward to working with India as a partner of choice in supporting this ambition: collaborating on defence technologies lies at the heart of this. These are landmark agreements that support our economic growth and joint security.

    In a separate development, MBDA UK and BDL have been working together on the installation of a first of its kind Advanced Short-Range Air to Air Missile (ASRAAM) assembly and test facility in Hyderabad, arming current fleet of India’s fighter jets as well as exporting to the world.

    On the maritime front, the UK and India have signed a Statement of Intent to design and develop an Integrated Full Electric Propulsion (IFEP) system for India’s next generation Landing Platform Dock (LPD) fleet. As next steps, GE Vernova and BHEL are working to develop India’s first maritime Land Based Testing Facility to deliver LPD in the water by 2030.

    The strengthening of UK-India partnership will directly support India’s ‘Atmanirbhar Bharat’ ambition and deliver the UK Government’s growth agenda and Plan for Change.

    Further information

    • Free-to-use high resolution images of the UK delegation at Aero India will be uploaded online: www.flickr.com/photos/ukinindia.

    • The British companies at Aero India 2025 are Rolls Royce, BAE Systems, MBDA UK, Thales UK, GE Vernova, Leonardo, Strongfield Technologies, ASL, SEKO Logistics, Jaguar Engineering Centre of Excellence, Aviation Defence Supplies Ltd and Ricardo.

    • Following the signing of the LBRM contract both Thales UK and BDL will further collaborate to co-produce Lightweight Multirole Missiles with BDL forming an integral part of the Thales supply chain, increasing manufacturing capacity for global export.

    • UK Defence invested £69 million to secure Thales UK supply chain for key components used in the manufacture of missiles in 2024.

    • The landmark maritime electric propulsion capability transfer will ensure self-reliance in the power and propulsion of the Indian Navy’s next generation fleets.

    Media

    David Russell, Communications Counsellor and Spokesperson,
    British High Commission, Chanakyapuri,
    New Delhi 110021. Tel: 24192100

    Media queries: BHCMediaDelhi@fcdo.gov.uk

    Follow us on Twitter, Facebook, Instagram, Flickr, Youtube and LinkedIn

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Italy and WFP partner to reduce malnutrition in Eastern Sudan

    Source: World Food Programme

    PORT SUDAN/NAIROBI– The United Nations World Food Programme (WFP) in Sudan welcomes a contribution of EUR6.55 million from the Italian Agency for Development Cooperation (AICS). This vital funding will enable WFP to provide specialized nutritious foods and cash-based nutrition assistance to nearly 200,000 young children and pregnant or nursing women in Gedaref and Kassala states.

    This support will help prevent malnutrition in eastern Sudan, which is critical as some 3.7 million children under five and pregnant and breastfeeding mothers across the country are malnourished.     

    “Amid Sudan’s deepening hunger crisis, this generous contribution will help to improve diets among vulnerable women and children, which is key to reducing malnutrition. We are extremely grateful to the Government of Italy,” said Mr. Laurent Bukera, WFP Regional Director for Eastern Africa. 

    Sudan continues to face a catastrophic humanitarian situation with approximately 24.6 million people – nearly half of Sudan’s population – facing acute food insecurity (IPC Phase 3+). Twenty-seven locations across Sudan are either in famine or at risk of famine, while more than one-third of children in the hardest hit regions are acutely malnourished.

    “With this project, Italy is at the forefront in Sudan in supporting the most vulnerable populations. The partnership with WFP is a tangible example of our commitment in the fight against malnutrition, ensuring access to essential nutritional support for those most in need. This initiative also reflects Italy’s broader strategy of humanitarian assistance and sustainable development, reinforcing long-term resilience and food security in the region” – stated the Ambassador of Italy to Sudan, Michele Tommasi. 

    Since the start of Sudan’s conflict nearly 22 months ago, WFP has provided nutrition assistance to prevent and treat malnutrition to nearly 2.5 million women and children. WFP is working tirelessly to expand food and nutrition assistance to millions more people across Sudan – aiming to triple the number of people it supports to 7 million. Italy has been a long-time supporter of WFP in Sudan, contributing nearly EUR15 million since 2021.   

    #                 #                   #

    The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.

    Follow us on X, formerly Twitter, via @wfp_media and @wfp_sudan

    MIL OSI United Nations News –

  • MIL-OSI United Kingdom: Northumbrian manufacturer wins data-centre work with UKEF backing

    Source: United Kingdom – Executive Government & Departments

    Salem Tube is moving into the rapidly-growing sector thanks in part to support from the government’s export credit agency.

    • Based in Prudhoe, County Durham, Salem Tube has traded for over 30 years and makes industrial tubing.

    • It has traditionally served the energy sector but is taking on more and more orders from developers of data-centres.

    • Data-centres have high energy requirements and cannot function without cooling equipment provided by Salem Tube.

    A manufacturer from Northumberland is taking on new business with data-centre developers after securing the support of UK Export Finance (UKEF) and Santander UK.

    Salem Tube has traded since 1992 and supplies tubes for heat-transfer and heat-exchange – something essential to industrial cooling systems. It exports to over 40 countries a year, typically in the energy sector.

    As the market for AI and cloud data storage grows rapidly, Salem has been taking on more and more contracts in this area.

    Salem has now agreed a financing package worth £3.5 million which is provided by Santander UK and backed by the government through UKEF. This gives the business the capital which it needs to take on larger data-centre contracts and establish itself as a supplier to this emerging sector.

    UKEF offers its General Export Facility (GEF) scheme through all the major UK banks and a range of non-bank lenders. This allows exporters to access working capital facilities up to around £25 million.

    Pat Kendell, Senior Export Finance Manager (North East England), UKEF:

    Salem Tube is a perfect example of how businesses in the north are adapting and thriving in emerging sectors. This deal shows how government backing can help established manufacturers to seize new opportunities in the industries of the future. By supporting Salem Tube’s move into the data-centre market, UKEF is helping to safeguard jobs and boost exports in the North-East.

    Mark Ling, Head of Trade & Supplier Finance, Santander UK:

    We are delighted to provide further support for Salem Tube’s growth. Our partnership and collaboration with both Salem Tube and UKEF demonstrates our commitment to the international growth of businesses in the UK.

    This also helps Salem to complete its rebound from COVID-19 and grow larger than ever. It secured a range of overseas contracts in the USA and Middle East last year and is now considering taking on more employees.

    This is the latest phase of Salem’s partnership with UKEF, which has supported the business for over 5 years and previously helped it win new contracts in Africa.

    Contact

    Media enquiries:

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Vacancy for IT Manager at MAIB, Southampton

    Source: United Kingdom – Executive Government & Departments

    We have an exciting opportunity to join the technical department at MAIB.

    Your responsibilities will include but not be limited to:

    • Service owner and system administrator of the branch’s local network, MADNet and its associated peripherals:

      • Network administrator
      • Network architect
      • Cybersecurity lead
      • First-line IT support
      • System administrator for Microsoft applications and licensing
      • Branch case management system
      • Building and issuing of staff laptops using Microsoft Intune
      • Set-up and problem-solving
      • Managing IT contractors
    • IT procurement lead
    • DfT IT Focal Point

    Applicants will have a robust technical background and strong leadership abilities, along with a deep understanding of network architecture and cybersecurity. Proven experience in managing and optimizing a range of IT systems and infrastructure is also desirable.

    This critical role requires candidates with a proven relevant technical background, combined with excellent communication, leadership, and people skills. You will have extensive experience of:

    • Windows-based PCs and server operating systems
    • Group Policy, Active Directory
    • Antivirus configuration and management
    • Firewall configuration and management
    • Managing network infrastructure, including UPS, switches and router configuration
    • VPN configuration and management
    • Cyber Security
    • Microsoft applications including Intune, O365 including Admin Centre, Teams, SharePoint, Power BI, Dynamics and Azure

    Applicants must have A level/BTEC National Level 3 equivalent or higher qualification, in an information technology subject, or certification from reputable IT companies such as Microsoft, Cisco, Dell, HP, Juniper, etc.

    For further information about the post and how to apply, go to Civil Service Jobs: IT Manager, Ref: 389736

    Closing date: Thursday 27th February 2025.

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Tower Semiconductor Reports 2024 Fourth Quarter and Full Year Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MIGDAL HAEMEK, Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the fourth quarter of 2024 and for the year ended December 31, 2024.

    Fourth Quarter of 2024 Results Overview
    Revenues for the fourth quarter of 2024 were $387 million as compared to $371 million for the third quarter of 2024 and $352 million for the fourth quarter of 2023, representing 5% quarter over quarter growth and 10% year over year growth. The Company met its expressed target of sequential quarter over quarter revenue growth within 2024, resulting in 18% growth fourth quarter over first quarter.

    Gross profit for the fourth quarter of 2024 was $87 million, compared to $84 million for the fourth quarter of 2023. During the fourth quarter of 2024, the Company took on for the first time its portion of incremental costs of the greenfield Agrate facility.

    Operating profit for the fourth quarter of 2024 was $46 million as compared to $45 million for the fourth quarter of 2023.

    Net profit for the fourth quarter of 2024 was $55 million, reflecting $0.49 basic and diluted earnings per share. Net profit for the fourth quarter of 2023 was $54 million, or $0.49 basic and $0.48 diluted earnings per share.

    Cash flow generated from operating activities in the fourth quarter of 2024 was $101 million and investments in property and equipment, net were $93 million.

    Full year 2024 Results Overview
    Revenues for the full year of 2024 were $1.44 billion, gross profit was $339 million, operating profit was $191 million. Net profit for the full year of 2024 was $208 million, or $1.87 basic and $1.85 diluted earnings per share. For the full year of 2023, revenues were $1.42 billion, gross profit was $354 million, operating profit was $547 million and included $314 million, net, from the Intel merger contract termination and $33 million of restructuring income, net, from the previously disclosed reorganization and restructure of our Japan operations during 2022. Net profit for the full year of 2023 was $518 million, or $4.70 basic and $4.66 diluted earnings per share and included $290 million, net, due to the merger contract termination payment by Intel and $11 million restructuring income, net.

    Cash flow generated from operating activities for the year ended December 31, 2024, was $449 million. Investments in property and equipment, net for the year ended December 31, 2024, were $432 million and debt payments, net totaled $32 million.

    6” Fab Consolidation Update
    During the fourth quarter of 2024, the lower margin legacy of 150mm flows were discontinued in Fab1, with last Fab outs occurring in January 2025. The forward-looking strategic flows have been transferred into the Fab2 200mm factory. This strategic integration enables the Company to streamline its production processes, enhancing overall efficiency.

    Business Outlook
    Tower Semiconductor guides revenues for the first quarter of 2025 to be $358 million, with an upward or downward range of 5%. First quarter mid-range guidance reflects about 10% year-over-year growth.

    Russell Ellwanger, Chief Executive Officer of Tower Semiconductor, stated:
    “With the close of 2024, we are pleased with our progress, in having brought to market highly differentiated end application advancing platforms, hence strengthening our position for sustainable growth. Our 2025 revenue target is year-over-year growth, with sequential quarter-over-quarter revenue growth, and an acceleration in the second half of the year. This momentum is fueled by increasing production shipments as our previously announced capacity investments progress through the final stages of customer qualifications.”

    Ellwanger further added: “Our commitment to customer partnered innovation and streamlined execution continues to drive our ability to meet the growing and evolving needs of our customers in a quickly changing business environment, whilst expanding our available market size and share. We look forward to the year ahead with confidence and enthusiasm.”

    Teleconference and Webcast
    Tower Semiconductor will host an investor conference call today, Monday, February 10, 2025, at 10:00 a.m. Eastern time (9:00 a.m. Central time, 8:00 a.m. Mountain time, 7:00 a.m. Pacific time and 5:00 p.m. Israel time) to discuss the Company’s financial results for the fourth quarter and full year of 2024 and its business outlook.

    The call will be webcast and available through the Investor Relations section of Tower Semiconductor’s website at ir.towersemi.com. The pre-registration form required for dial-in participation is accessible here. Upon completing the registration, participants will receive the dial-in details, a unique PIN, and a confirmation email with all necessary information. To access the webcast, click here. The teleconference will be available for replay for 90 days.

    Non-GAAP Financial Measures
    The Company presents its financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial information included in the tables below includes unaudited condensed financial data. Some of the financial information, which may be used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, which we may describe as adjusted financial measures and/or reconciled financial measures, are non-GAAP financial measures as defined in Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the “SEC”) as they apply to our Company. These adjusted financial measures are calculated excluding the following: (i) amortization of acquired intangible assets as included in our costs and expenses, (ii) compensation expenses in respect of equity grants to directors, officers, and employees as included in our costs and expenses, (iii) merger contract termination fees received from Intel, net of associated cost and taxes following the previously announced Intel contract termination as included in net profit in 2023 and (iv) restructuring income, net, which includes income, net of cost and taxes associated with the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, which occurred during 2022, as included in net profit. These adjusted financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the adjusted financial measures used and/or presented in this release, as well as a reconciliation between the adjusted financial measures and the comparable GAAP financial measures. As used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, as well as may be included and calculated in the tables herein, the term Earnings Before Interest Taxes, Depreciation and Amortization which we define as EBITDA consists of operating profit in accordance with GAAP, excluding (i) depreciation expenses, which include depreciation recorded in cost of revenues and in operating cost and expenses lines (e.g., research and development related equipment and/or fixed other assets depreciation), (ii) stock-based compensation expense, (iii) amortization of acquired intangible assets, (iv) merger contract termination fees received from Intel, net of associated cost following the previously announced Intel contract termination, as included in operating profit and (v) restructuring income, net in relation to the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, as included in operating profit. EBITDA is reconciled in the tables below and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company from GAAP operating profit. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, are not a required GAAP financial measure and may not be comparable to a similarly titled measure employed by other companies. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Net Cash, as may be used and/or presented in this release and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is comprised of cash, cash equivalents, short-term deposits, and marketable securities less debt amounts as presented in the balance sheets included herein. The term Net Cash is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for cash, debt, operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Free Cash Flow, as used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is calculated to be net cash provided by operating activities (in the amounts of $101 million, $125 million and $126 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $449 million and $677 million for the years ended December 31, 2024 and December 31, 2023, respectively (less cash used for investments in property and equipment, net (in the amounts of $93 million, $128 million and $136 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $432 million and $432 million for the years ended December 31, 2024 and December 31, 2023, respectively). The term Free Cash Flow is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing, and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP.

    About Tower Semiconductor
    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    CONTACT:
    Liat Avraham | Investor Relations | +972-4-6506154 | liatavra@towersemi.com

    Forward-Looking Statements
    This release, as well as other statements and reports filed, stated and published in relation to this quarter’s results, includes certain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, projections and statements with respect to our future business, financial performance and activities. The use of words such as “projects”, “expects”, “may”, “targets”, “plans”, “intends”, “committed to”, “tracking”, or words of similar import, identifies a statement as “forward-looking.” Actual results may vary from those projected or implied by such forward-looking statements and you should not place any undue reliance on such forward-looking statements, which describe information known to us only as of the date of this release. Factors that could cause actual results to differ materially from those projected or implied by such forward-looking statements include, without limitation, risks and uncertainties associated with: (i) demand in our customers’ end markets, (ii) reliance on acquisitions and/or gaining additional capacity for growth, (iii) difficulties in achieving acceptable operational metrics and indices in the future as a result of operational, technological or process-related problems, (iv) identifying and negotiating with third-party buyers for the sale of any excess and/or unused equipment, inventory and/or other assets, (v) maintaining current key customers and attracting new key customers, (vi) over demand for our foundry services resulting in high utilization and its effect on cycle time, yield and on schedule delivery, as well as customers potentially being placed on allocation, which may cause customers to transfer their business to other vendors, (vii) financial results that may fluctuate from quarter to quarter, making it difficult to forecast future performance, (viii) our debt and other liabilities that may impact our financial position and operations, (ix) our ability to successfully execute acquisitions, integrate them into our business, utilize our expanded capacity and find new business, (x) fluctuations in cash flow, (xi) our ability to satisfy the covenants stipulated in our agreements with our debt holders, (xii) pending litigation, (xiii) meeting the conditions set in approval certificates and other regulations under which we received grants and/or royalties and/or any type of funding from the Israeli, US and/or Japan governmental agencies, (xiv) receipt of orders that are lower than the customer purchase commitments and/or failure to receive customer orders currently expected, (xv) possible incurrence of additional indebtedness, (xvi) the effects of global recession, unfavorable economic conditions and/or credit crisis, (xvii) our ability to accurately forecast financial performance, which is affected by limited order backlog and lengthy sales cycles, (xviii) possible situations of obsolete inventory if forecasted demand exceeds actual demand when we create inventory before receipt of customer orders, (xix) the cyclical nature of the semiconductor industry and the resulting periodic overcapacity, fluctuations in operating results and future average selling price erosion, (xx) financing capacity acquisition related transactions, strategic and/or other growth or M&A opportunities, including funding Agrate fab’s significant 300mm capacity investments and acquisition or funding of equipment and other fixed assets associated with the capacity corridor transaction with Intel as announced in September 2023, in addition to other capacity and capability expansion plans, and the possible unavailability of such financing and/or the availability of such financing on unfavorable terms, (xxi) operating our facilities at sufficient utilization rates necessary to generate and maintain positive and sustainable gross, operating and net profit, (xxii) the purchase of equipment and/or raw material (including purchases beyond our needs), the timely completion of the equipment installation, technology transfer and raising the funds therefor, (xxiii) product returns and defective products, (xxiv) our ability to maintain and develop our technology processes and services to keep pace with new technology, including artificial intelligence, evolving standards, changing customer and end-user requirements, new product introductions and short product life cycles, (xxv) competing effectively, (xxvi) the use of outsourced foundry services by both fabless semiconductor companies and integrated device manufacturers, (xxvii) our dependence on intellectual property rights of others, our ability to operate our business without infringing others’ intellectual property rights and our ability to enforce our intellectual property against infringement, (xxviii) the Fab 3 landlord’s alleged claims that the noise abatement efforts made thus far are not adequate under the terms of the amended lease that caused him to request a judicial declaration that there was a material non-curable breach of the lease and that he would be entitled to terminate the lease, as well the ability to extend such lease or acquire the real estate and obtain the required local state and/or approvals required to be able to continue operations beyond the current lease term, (xxix) retention of key employees and recruitment and retention of skilled qualified personnel, (xxx) exposure to inflation, currency rates (mainly the Israeli Shekel, the Japanese Yen and the Euro) and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of our traded securities, (xxxi) meeting regulatory requirements worldwide, including export, environmental and governmental regulations, as well as risks related to international operations, (xxxii) potential engagement for fab establishment, joint venture and/or capital lease transactions for capacity enhancement in advanced technologies, including risks and uncertainties associated with the Agrate fab and the capacity corridor transaction with Intel as announced in September 2023, such as their qualification schedule, technology, equipment and process qualification, facility operational ramp-up, customer engagements, cost structure, required investments and other terms, which may require additional funding to cover their significant capacity investment needs and other payments, the availability of which funding cannot be assured on favorable terms, if at all, (xxxiii) potential liabilities, cost and other impacts that may be incurred or occur due to reorganization and consolidation of fabrication facilities, including the impact of cessation of operations of our facilities, including with regard to our 6 inch facility, (xxxiv) potential security, cyber and privacy breaches, (xxxv) workforce that is not unionized which may become unionized, and/or workforce that is unionized and may take action such as strikes that may create increased cost and operational risks, (xxxvi) the issuance of ordinary shares as a result of exercise and/or vesting of any of our employee equity, as well as any sale of shares by any of our shareholders, or any market expectation thereof, as well as the issuance of additional employee stock options and/or restricted stock units, or any market expectation thereof, which may depress the market value of the Company and the price of the Company’s ordinary shares and in addition may impair our ability to raise future capital, and (xxxvii) climate change, business interruptions due to floods, fires, pandemics, earthquakes and other natural disasters, the security situation in Israel, global trade “war” and the current war in Israel, including the potential inability to continue uninterrupted operations of the Israeli fab, impact on global supply chain to and from the Israeli fab, power interruptions, chemicals or other leaks or damages as a result of the war, absence of workforce due to military service as well as risk that certain countries will restrict doing business with Israeli companies, including imposing restrictions if hostilities in Israel or political instability in the region continue or exacerbate, and other events beyond our control. With respect to the current war in Israel, if instability in neighboring states occurs, Israel could be subject to additional political, economic, and military confines, and our Israeli facility’s operations could be materially adversely affected. Any current or future hostilities involving Israel or the interruption or curtailment of trade between Israel and its present trading partners, or a significant downturn in the economic or financial condition of Israel, could have a material adverse effect on our business, financial condition and results of operations.

    A more complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this release or which may otherwise affect our business is included under the heading “Risk Factors” in the Company’s most recent filings on Forms 20-F and 6-K, as were filed with the SEC and the Israel Securities Authority. Future results may differ materially from those previously reported. The Company does not intend to update, and expressly disclaims any obligation to update, the information contained in this release.

    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)  
    (dollars in thousands)  
      December 31,   December 31,  
      2024   2023  
    ASSETS        
    CURRENT ASSETS        
    Cash and cash equivalents $ 271,894   $ 260,664  
    Short-term deposits 946,351   790,823  
    Marketable securities —   184,960  
    Trade accounts receivable 211,932   154,067  
    Inventories 268,295   282,688  
    Other current assets 61,817   35,956  
    Total current assets 1,760,289   1,709,158  
    PROPERTY AND EQUIPMENT, NET 1,286,622   1,155,929  
    GOODWILL AND OTHER INTANGIBLE ASSETS, NET 10,196   12,115  
    OTHER LONG-TERM ASSETS 23,378   41,315  
    TOTAL ASSETS $ 3,080,485   $ 2,918,517  
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
    CURRENT LIABILITIES        
    Short-term debt $ 48,376   $ 58,952  
    Trade accounts payable 130,624   139,128  
    Deferred revenue and customers’ advances 21,655   18,418  
    Other current liabilities 84,409   60,340  
    Total current liabilities 285,064   276,838  
    LONG-TERM DEBT 132,437   172,611  
    LONG-TERM CUSTOMERS’ ADVANCES 7,690   25,710  
    OTHER LONG-TERM LIABILITIES 15,114   16,319  
    TOTAL LIABILITIES 440,305   491,478  
    TOTAL SHAREHOLDERS’ EQUITY 2,640,180   2,427,039  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 3,080,485   $ 2,918,517  
             
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    REVENUES $ 387,191   $ 370,512   $ 351,711  
    COST OF REVENUES 300,338   277,451   267,294  
    GROSS PROFIT 86,853   93,061   84,417  
    OPERATING COSTS AND EXPENSES:            
    Research and development 20,622   19,867   20,849  
    Marketing, general and administrative 19,812   17,432   18,401  
      40,434   37,299   39,250  
                 
    OPERATING PROFIT 46,419   55,762   45,167  
    FINANCING AND OTHER INCOME, NET 8,315   6,104   16,682  
    PROFIT BEFORE INCOME TAX 54,734   61,866   61,849  
    INCOME TAX EXPENSE, NET (2,149)   (7,026)   (10,130)  
    NET PROFIT 52,585   54,840   51,719  
    Net loss (profit) attributable to non-controlling interest 2,553   (193)   2,128  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    BASIC EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.49  
    Weighted average number of shares 111,493   111,237   110,796  
    DILUTED EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.48  
    Weighted average number of shares 112,967   112,474   111,308  
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    Stock based compensation 10,684   8,611   6,662  
    Amortization of acquired intangible assets 574   448   442  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 66,396   $ 63,706   $ 60,951  
    ADJUSTED EARNINGS PER SHARE:            
    Basic $ 0.60   $ 0.57   $ 0.55  
    Diluted $ 0.59   $ 0.57   $ 0.55  
                 
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Year ended  
      December 31,  
      2024   2023  
    REVENUES $ 1,436,122   $ 1,422,680  
    COST OF REVENUES 1,096,680   1,069,161  
    GROSS PROFIT 339,442   353,519  
    OPERATING COSTS AND EXPENSES:        
    Research and development 79,434   79,808  
    Marketing, general and administrative 74,964   72,454  
    Restructuring income, net * (6,270)   (32,506)  
    Merger-contract termination fee, net ** —   (313,501)  
      148,128   (193,745)  
             
    OPERATING PROFIT 191,314   547,264  
    FINANCING AND OTHER INCOME, NET 26,113   37,578  
    PROFIT BEFORE INCOME TAX 217,427   584,842  
    INCOME TAX EXPENSE, NET (10,205)   (65,312)  
    NET PROFIT 207,222   519,530  
    Net loss (profit) attributable to non-controlling interest 642   (1,036)  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    BASIC EARNINGS PER SHARE $ 1.87   $ 4.70  
    Weighted average number of shares 111,153   110,289  
    DILUTED EARNINGS PER SHARE $ 1.85   $ 4.66  
    Weighted average number of shares 112,343   111,216  
    * Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022.  
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost.  
             
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    Stock based compensation 33,837   27,931  
    Amortization of acquired intangible assets 1,918   1,923  
    Restructuring income, net *** (2,634)   (11,224)  
    Merger-contract termination fee, net **** —   (289,988)  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 240,985   $ 247,136  
    ADJUSTED EARNINGS PER SHARE:        
    Basic $ 2.17   $ 2.24  
    Diluted $ 2.15   $ 2.22  
    *** Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022, net of tax.
    **** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost and tax.
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)  
    (dollars in thousands)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 270,979   $ 265,313   $ 314,816  
    Net cash provided by operating activities 100,816   124,743   126,098  
    Investments in property and equipment, net (93,396)   (127,624)   (136,426)  
    Debt received (repaid), net 2,795   (16,402)   (8,950)  
    Effect of Japanese Yen exchange rate change over cash balance (4,972)   5,537   2,101  
    Proceeds from (investment in) deposits, marketable securities and other assets, net (4,328)   19,412   (36,975)  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 270,979   $ 260,664  
      Year ended      
      December 31,   December 31,      
      2024   2023      
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 260,664   $ 340,759      
    Net cash provided by operating activities 448,682   676,561 *    
    Investments in property and equipment, net (431,653)   (432,184)      
    Debt repaid, net (32,455)   (32,346)      
    Proceeds from investment in subsidiary —   1,932      
    Effect of Japanese Yen exchange rate change over cash balance (4,758)   (5,395)      
    Proceeds from (investment in) deposits, marketable securities and other assets, net 31,414   (288,663)      
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664      
    * Merger-contract termination fee received from Intel during 2023, net of associated cost, in the amount of $313,501  
    was included within the net cash provided by operating activities for the year ended December 31, 2023.  
     TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)  
    (dollars in thousands)  
      Year ended  
      December 31,   December 31,  
      2024   2023  
    CASH FLOWS – OPERATING ACTIVITIES        
    Net profit for the period $ 207,222   $ 519,530  
    Adjustments to reconcile net profit for the period        
    to net cash provided by operating activities:        
    Income and expense items not involving cash flows:        
    Depreciation and amortization * 266,279   258,021  
    Effect of exchange rate differences and fair value adjustment 133   (1,632)  
    Other expense (income), net 24,721   (7,047)  
    Changes in assets and liabilities:        
    Trade accounts receivable (60,169)   (3,160)  
    Other current assets (33,992)   (9,541)  
    Inventories 4,778   8,682  
    Trade accounts payable 35,784   (8,254)  
    Deferred revenue and customers’ advances (14,783)   (35,676)  
    Other current liabilities 22,021   (70,163)  
    Other long-term liabilities (3,312)   25,801  
    Net cash provided by operating activities 448,682   676,561 **
    CASH FLOWS – INVESTING ACTIVITIES        
    Investments in property and equipment, net (431,653)   (432,184)  
    Proceeds from (investments in) deposits, marketable securities and other assets, net 31,414   (288,663)  
    Net cash used in investing activities (400,239)   (720,847)  
    CASH FLOWS – FINANCING ACTIVITIES        
    Debt repaid, net (32,455)   (32,346)  
    Proceeds from investment in subsidiary —   1,932  
    Net cash used in financing activities (32,455)   (30,414)  
    EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE (4,758)   (5,395)  
             
    INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 11,230   (80,095)  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 260,664   340,759  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664  
    * Includes amortization of acquired intangible assets and stock based compensation in the amounts of $35,755  
    and $29,854 for the years ended December 31, 2024, and December 31, 2023, respectively.      
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost, in the amount
    of $313,501 was included within the net cash provided by operating activities for the year ended December 31, 2023.
             

    The MIL Network –