NewzIntel.com

Category: France

  • MIL-OSI USA: Senators Reverend Warnock, Cassidy Announce June 12 as National Seersucker Day

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia
    Senators Reverend Warnock and Cassidy are co-chairs of National Seersucker Day
    Senator Warnock became a co-chair last year following the death of Senator Dianne Feinstein, who had been a co-chair with Cassidy since 2014
    Senator Reverend Warnock: “Seersucker is more than just a fabric, it is a material deeply woven into Southern culture”
    Senator Cassidy: “Seersucker Day honors the New Orleans invention that’s made America fashionable—and the summer heat bearable—since 1909”
    Washington, D.C. – Today, U.S. Senators Reverend Raphael Warnock (D-GA) and Bill Cassidy, M.D. (R-LA) introduced a resolution marking Thursday, June 12th as National Seersucker Day. This marks the 12th year that Cassidy has led National Seersucker Day since he revived the tradition in the U.S. House of Representatives in 2014.
    “I’m excited to return as the co-chair for the annual Seersucker Day in our nation’s capital and continue celebrating this iconic Senate tradition,” said Senator Reverend Warnock. “Seersucker is more than just a fabric, it is a material deeply woven into Southern culture. National Seersucker Day is a proud bipartisan tradition, and I look forward to working alongside Senator Cassidy to carry it on.”
    “Seersucker Day honors the New Orleans invention that’s made America fashionable—and the summer heat bearable—since 1909. For one day a year, the Capitol looks a little more like the French Quarter,” said Senator Cassidy. “We might not always agree on policy, but we can all agree: wool in June is a mistake.”
    Seersucker suits were first popularized in the United States by a New Orleans businessman in the early 1900s. The material is a lighter, more breathable fabric that provides additional air flow in warmer weather compared to classic wool suits—historically making them ideal for wearing during Washington D.C.’s muggy summer months. Seersucker is typically made of cotton, which is one of Georgia’s most important agricultural crops, contributing roughly 53,000 cotton-related jobs throughout the state.
    Senators Warnock and Cassidy invite Americans from all over our great nation to don their warm weather finest on this National Seersucker Day. All senators and participating Congressional staff are invited for an official photograph at the Ohio Clock in the U.S. Capitol on Thursday, June 12, at 12:30 p.m. ET.
    The National Seersucker Day resolution text is HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Cantwell Joins Entire WA Delegation in Letter Urging President Trump to Reconsider Denial of WA State’s Request for a Disaster Declaration for November “Bomb Cyclone”

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    05.27.25
    WSU Prof Joins Cantwell & Leading Scientists to Highlight Devastating Impacts of Slashing Funding for Science Research
    Trump Administration wants to gut National Science Foundation funding by 55%, would be the most severe reductions in agency’s history, overturn bipartisan consensus reached in CHIPS & Science Act; WSU Professor Kalyanaraman: Cuts will “directly undercut” AI precision agriculture and agriculture cybersecurity research
    WASHINGTON, D.C. – Last Tuesday, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, was joined by Sen. Chris Van Hollen (D-MD) and a panel of prestigious scientists to decry the devastating impacts of the Trump Administration’s proposed 55% cut to the FY 2026 budget of the National Science Foundation (NSF).
    The panel included Dr. Ananth Kalyanaraman, Professor at Washington State University, and Director of the USDA NIFA-funded AI Institute on Agricultural AI for Decision Support and Workforce Development.
    “We are in an Information Age. We are in an age where there are several areas of U.S. competitiveness that depend on continued science innovation, aerospace being one of those, certainly AI being another, quantum being a third,” Sen. Cantwell said. “And all of this is being put into jeopardy by this cut.”
    Looking at the damage to our future if these cuts are implemented, the Senator continued: “In an Information Age economy, when so much innovation is available, the last thing you should be doing is having a 55 percent cut to one of your key science R&D institutions. You should be making increases, allowing a thousand flowers to bloom across these institutions, across the United States, because you never know where the next Bill Gates or the next Bill Boeing is going to be, and the innovation they’re going to drive.”
    “WSU researchers are working on cutting edge security research across the entire computing stack, spanning hardware, software systems, and the web, and applications to precision agriculture,” said Dr. Kalyanaraman. “This research integrates AI to enhance the resilience of agricultural systems against cyber threats. We are deeply concerned about the nearly $5 billion in cuts to NSF, which will directly undercut this vital work and also our nation’s ability to remain globally competitive.”
    President Trump’s FY 2026 skinny budget proposes to cut NSF’s funding by 55.8% from $8.8 billion to $3.9 billion. This is on top of $234 million in FY 2025 funding for construction projects that the Administration has frozen. The CHIPS and Science Act, which Sen. Cantwell championed through to passage, authorized dramatically increasing NSF funding to $17.8 billion in FY2026.
    Besides recklessly proposing to slash future funding, the Trump Administration has already terminated 1,752 existing NSF grants totaling more than 1.3 billion dollars according to a list of terminated grants the Foundation released today. A large percentage of these grants are for projects and programs related to STEM education and expanding access and participation in STEM fields. Earlier this month, NSF announced it would cap indirect cost reimbursements at 15 percent for all new awards to universities and nonprofit institutions, down from negotiated rates that typically range from 30 to 60 percent. That action is on pause pending a lawsuit brought in the U.S. District Court for the District of Massachusetts.
    Other participants included: Dr. Arati Prabhakar, former Director of OSTP, DARPA, and NIST and venture capitalist; Dr. France Córdova, 14th Director of the National Science Foundation, and now President of the Science Philanthropy Alliance; Dr. Dean Chang, Chief Innovation Officer and Associate Vice President for Innovation & Entrepreneurship & Economic Development at the University of Maryland; and Dr. Marvi Matos Rodriguez, Engineering Director working in the Aerospace Industry.
    Dr. Prabhakar took the lead in debunking the idea that corporate funding could in any way replace federal investment in science, stating: “It’s been a bedrock economic understanding that corporations invest in the R&D that they can see leading to products and profits, but not in the kind that evolves across many labs over many years and forms a shared foundation for whole industries and for public missions like defense.”
    “These devastating cuts to public R&D are an embarrassing retreat from American leadership that hands the reins to the People’s Republic of China,” Dr. Prabhakar added. “And I would so much rather be here today talking about achieving our great aspirations for longer and healthier lives and for AI that extends our own human talents, for lowering our cost of living with clean energy and for restoring nature, because that is the future that America is capable of creating.”
    Dr. Córdova, who strongly agreed that private funding is no substitute for the NSF, said: “I have a good handle on what industry and philanthropy can contribute, and I can tell you, as important as their contributions are to bolstering our economy, they cannot replace government funding.”
    And Dr. Córdova decried the impacts of the cuts to STEM education that the Trump funding levels would force.
    “Especially important to universities is the funding to train our STEM workforce pipeline, without which we would have no industries of the future. Industry representatives often tell me that arguably the most important investment NSF makes is in the workforce training of STEM talent,” she said.
    In April, NSF revealed that Graduate Research Fellowships awarded in 2025 would be cut in half, from 2,000 to 1,000, the smallest cohort since 2010. NSF will also significantly reduce (from 368 to 70) the number of scientists it employs through a program that enables scientists on leave from their academic positions to work with the NSF to help choose the best research to fund.
    Dr. Chang offered an eye-opening look at where our nation would be without the National Science Foundation.
    ”It’s hard to imagine a world without NSF, but this alternate world without NSF would have none of the following: No Medtronic pacemakers or insulin pumps; no ChatGPT; no Nvidia GPU chips that power ChatGPT; no Apple; no Siri; no Amazon, Alexa; no GE MRIs for medical imaging; no Teslas and actually, no smart cruise control in any car of any kind; no Da Vinci robotic surgical systems; no early quantum computers from IBM and IonQ; and no Fortnite — the video game that swept the nation a few years ago,” Dr. Chang explained.
    “NSF celebrated its 75th anniversary this month,” Dr. Chang added. “But are we willing to relinquish our nation’s 75-year head start to other countries so they become the birthplace of the next generation of Teslas and ChatGPTs, the next generation of robotic surgeons and life saving devices? Not only must NSF continue to invest in high risk, high reward research, but NSF also must continue to invest in proven ways to shorten the decades long gestation periods.”
    Dr. Matos Rodriguez talked about her personal educational and professional story of turning her love for math and science at the University of Puerto Rico into a passion for research and STEM career engineering and the role NSF played along the way.
    “My passion for research blossomed when peers introduced me to the summer programs specifically designed to develop and enhance research skills,” Dr. Matos Rodriguez said, referring to research opportunities for undergraduates funded by the NSF that took her to California to conduct research at UC Davis and IBM.  
    “The impacts of the NSF REU program were far reaching. My journey continued at Carnegie Mellon, where I did my PhD… supported by a NASA grant. After graduate school, I worked as a postdoctoral fellow at the National Institute of Standards and Technology, funded by a grant from the National Research Council,” Dr. Matos Rodriguez continued.  “Little did I know that the product of all that research was not just the science, the discoveries or the papers, the product was me. The REU program, more than 25 years ago, was the seed for the STEM professional I am today, at a time when global competitiveness is vital, it is crucial to commit to cultivating generations of STEM professionals.”
    In the National Science Foundation for the Future Title in CHIPS and Science Act, Congress specifically called for broader participation of populations underrepresented in STEM and authorized $13 billion over five years for the NSF to allocate to STEM education. The United States can’t compete with China and others in science and innovation if we cannot close a gap in the STEM workforce that could be as large as 3 million people nationwide by 2030.

    MIL OSI USA News –

  • MIL-OSI Canada: Nova Scotians Recognized with Award of Excellence for l’Acadie and Francophonie

    Source: Government of Canada regional news

    Three Nova Scotians were recognized today, May 27, with the 2025 Lieutenant-Governor’s Award of Excellence for l’Acadie and Francophonie.

    “This award recognizes individuals who contribute to our cultural identity by promoting and preserving the French language and the heritage of Acadian communities,” said Lt.-Gov. Mike Savage. “Present and future generations of Nova Scotians benefit from the work of the award recipients, and I am happy to celebrate their significant and long-lasting contributions.”

    The award program honours people whose social, economic or cultural contributions have made a difference in the francophone and Acadian community and Nova Scotia as a whole.

    The 2025 recipients are:

    • Lucien Comeau, Dartmouth (francophone)
    • Bailey Ross, Halifax (francophile)
    • Samuel Gervais, Belliveau Cove, Digby County (youth).

    The award recognizes outstanding citizens in three categories: a francophone, a francophile – someone who is not francophone, but who supports or promotes the French language and culture – and a youth recipient under the age of 25.

    An independent selection committee, with representatives from Université Sainte-Anne, la Fédération acadienne de la Nouvelle-Écosse, Alliance française d’Halifax, the Office of Acadian Affairs and Francophonie, a francophone recipient of the Order of Nova Scotia or Order of Canada, a young person and a former recipient of the award, selects the recipients.

    Quotes:

    “The recipients of this award exemplify the pride, resilience and cultural richness of our Acadian and francophone communities. Their contributions strengthen our province and ensure that l’Acadie continues to thrive for generations to come. I commend each of them for their leadership and commitment.”
    — Colton LeBlanc, Minister of Acadian Affairs and Francophonie

    Quick Facts:

    • the award was created in August 2020 by Arthur J. LeBlanc, the first Acadian lieutenant-governor of Nova Scotia
    • the award is administered by the Office of Acadian Affairs and Francophonie

    Additional Resources:

    More information and nomination forms are available at: https://acadien.novascotia.ca/en/lieutenant-governor-nova-scotia-francophonie-award

    MIL OSI Canada News –

  • MIL-OSI Global: Regulating AI seems like an impossible task, but ethically and economically, it’s a vital one

    Source: The Conversation – UK – By Jun Du, Professor of Economics, Centre Director of Centre for Business Prosperity (CBP), Aston University

    AlinStock/Shutterstock

    AI has already transformed industries and the way the world works. And its development has been so rapid that it can be hard to keep up. This means that those responsible for dealing with AI’s impact on issues such as safety, privacy and ethics must be equally speedy.

    But regulating such a fast-moving and complex sector is extremely difficult.

    At a summit in France in February 2025, world leaders struggled to agree on how to govern AI in a way that would be “safe, secure and trustworthy”. But regulation is something that directly affects everyday lives – from the confidentiality of medical records to the security of financial transactions.

    One recent example which highlights the tension between technological advancement and individual privacy is the ongoing dispute between the UK government and Apple. (The government wants the tech giant to provide access to encrypted user data stored in its cloud service, but Apple says this would be a breach of customers’ privacy.)

    It’s a delicate balance for all concerned. For businesses, particularly global ones, the challenge is about navigating a fragmented regulatory landscape while staying competitive. Governments need to ensure public safety while encouraging innovation and technological progress.

    That progress could be a key part of economic growth. Research suggests that AI is igniting an economic revolution – improving the performance of entire sectors.

    In healthcare for example, AI diagnostics have drastically reduced costs and saved lives. In finance, razor-sharp algorithms cut risks and help businesses to rake in profits.

    Logistics firms have benefited from streamlined supply chains, with delivery times and expenses slashed. In manufacturing, AI-driven automation has cranked up efficiency and cut wasteful errors.

    But as AI systems become ever more deeply embedded, the risks associated with their unchecked development increase.

    Data used in recruitment algorithms for instance, can unintentionally discriminate against certain groups, perpetuating social inequality. Automated credit-scoring systems can exclude people unfairly (and remove accountability).

    Issues like these can erode trust and bring ethical risks.

    A well-designed regulatory framework must mitigate these risks while ensuring that AI remains a tool for economic growth. Over-regulation could slow development and discourage investment, but inadequate oversight may lead to misuse or exploitation.

    International intelligence

    This dilemma is being treated differently across the world. The EU for example, has introduced one of the most comprehensive regulatory frameworks, prioritising transparency and accountability, especially in areas such as healthcare and employment.

    While robust, this approach risks slowing innovation and increasing compliance costs for businesses.

    In contrast, the US has avoided sweeping federal rules, opting instead for self-regulation in specific industries. This has led to rapid AI development, particularly in areas such as autonomous vehicles and financial technology. But it also leaves regulatory gaps and inconsistent oversight.

    AI has huge potential for healthcare.
    frank60/Shutterstock

    China meanwhile uses government-led regulation, prioritising national security and economic growth. This brings major state investment, driving advances in things such as facial recognition and surveillance systems, which are used extensively in train stations, airports and public buildings.

    These varying approaches demonstrate a lack of international agreement about AI. And they also pose significant challenges for businesses operating globally.

    Companies must now comply with multiple, sometimes conflicting AI regulations, leading to increased compliance costs and uncertainty.

    This fragmentation could slow down AI adoption as firms hesitate to invest in applications that could become non-compliant in some countries. A globally coordinated regulatory framework seems increasingly necessary to ensure fairness and promote responsible innovation without excessive constraints.

    Innovation vs regulation

    But again, achieving this kind of framework would not be easy. The impact of regulation on innovation is complex and involves careful trade-offs.

    Transparency, while essential for accountability, could mean sharing new technology, potentially eroding competitive advantages. Strict compliance requirements, crucial in industries such as healthcare and finance, can be counterproductive where rapid development is vital.

    Effective AI regulation should be dynamic, adaptive and globally harmonised, balancing ethical responsibilities with economic ambition. Companies that actively align with ethical AI standards are likely to benefit from improved consumer trust.

    For now, in the absence of global agreement, the UK has chosen a flexible approach, with guidelines set by independent bodies such as the Responsible Technology Adoption Unit. This model aims to attract investment and encourage innovation by offering clarity without overly rigid constraints.

    With a robust research ecosystem, world-class universities and a skilled workforce, the UK has a solid foundation for AI-driven economic growth. Continued investment in research, infrastructure and talent are essential.

    The UK must also stay proactive in shaping international AI standards. For achieving effective AI governance that is safe and trustworthy, will be key to securing its future as an engine of economic and social transformation.

    Jun Du is a member of the British Chamber of Commerce (BCC) Economic Advisory Council, and part of BCC Global Britain Challenge Group; the Vice Chair of the Trade and Investment Panel for the International Chambers of Commerce, and advisor to the Midlands Engine Observatory Program Board and the Business Commission West Midlands Advisory Panel. Jun is a member of the Council of Experts of the UKRI-funded Innovation & Research Caucus, and part of the OECD Innovation Review Advisory Group.

    Cher Li is a member of the Council of Experts of the UKRI-funded Innovation & Research Caucus, and government Expert Peer Review Group (PRG). Her recent research projects have been funded by the ESRC and United Kingdom Accreditation Service (UKAS).

    Xingyi Liu has received funding from the Innovation & Research Caucus for his recent research.

    – ref. Regulating AI seems like an impossible task, but ethically and economically, it’s a vital one – https://theconversation.com/regulating-ai-seems-like-an-impossible-task-but-ethically-and-economically-its-a-vital-one-250816

    MIL OSI – Global Reports –

  • MIL-OSI Global: Crop diversification is crucial to Canadian resilience in a changing world

    Source: The Conversation – Canada – By Karen K. Christensen-Dalsgaard, Assistant Professor, Department of Biological Sciences, MacEwan University

    The recent threats of tariffs and deteriorating relations with the United States have led to increasing interest from Canadian governments and the public in boosting the country’s self-reliance.

    Politicians have called on the public to “buy Canadian,” provinces have ordered American products removed from shelves and Canadian retailers have seen a surge in domestic sales. Yet the importance of agricultural adaptations for achieving greater Canadian self-reliance has largely been overlooked.

    The federal government’s plan for building a stronger agrifood sector is mainly based on financial safeguards and loan options for impacted farmers and supply-chain management of existing products. The broad topic of agricultural innovation is barely mentioned at all.

    At a time of changing geopolitical and physical environments, we must ensure the long-term resilience of Canada’s farms. An important step towards achieving this complex and multifaceted goal would be to diversify the country’s crop production.

    Low Canadian crop diversity

    Anyone browsing their supermarket’s produce section will quickly discover just how few of the products are grown in Canada. This is ironic; as most gardeners know, many imported fruits and vegetables can grow extremely well in Canada.

    Canada imports around 50 per cent of vegetables and 75 per cent of fruits from abroad, much of it from the United States.

    This has not traditionally caused concern since the agri-food sector has a net trade surplus. But among Canadian crops, just two — canola and wheat — dominate total earnings.

    Canada’s need for imports leaves it vulnerable, but so does its need for exports.

    In 2019, for instance, after the arrest of Huawei executive Meng Wanzhou, China imposed harsh trade restrictions on Canadian canola. That year, canola exports to China fell by 70 per cent.

    Today, Canada faces similar issues with 100 per cent tariffs imposed by China on canola products.

    Instead of just bailing out farmers impacted by current events, governments should help those who are interested to diversify and grow crops that can be sold domestically.

    Benefits of diversifying our agriculture

    Even before the current tariffs, there were good reasons for diversifying Canadian agriculture and growing food locally.

    The nutritional value of vegetables decreases during storage and transport, suggesting that local produce may be healthier. Similarly, crop diversity can be an important tool for improving plant and soil health and so increasing yields while ensuring environmental sustainability.

    In a meta-analysis of 5,156 experiments from across the globe, researchers in France and the Netherlands showed that crop diversification typically enhanced net productivity, soil function and ecosystem services. It had the greatest effect on water quality and organism-induced damage; weed reduction, pest reduction, disease control and associated crop damages showed 33-60 per cent average improvements.

    The benefits in terms of soil health and productivity may be compounded by intercropping plant species with fungi. Preliminary results from my current research project suggest that edible saprotrophic fungi could be used as a tool for maintaining soil health while minimizing the use of environmentally problematic soil amendments.

    Diversification studies include a range of different land management techniques, some of which involve elaborate intercropping approaches that might be difficult to implement on an industrial scale. However, even relatively simple crop rotation approaches have a positive impact on soil carbon, nutrient levels, microbial activity, biodiversity and net productivity, potentially leading to increased profitability.

    The impacts of climate change

    Longstanding arguments for crop diversification have been compounded by climate-change-induced food insecurity. Increases in the frequency and severity of wildfires and droughts suggest that rely on regions like California for food imports might be poor long-term planning.

    Similarly, parts of Canada face an increased risk of weather-induced crop failure. Crop species may no longer be a good match for the current climatic conditions where they’re grown. Canola and wheat, for instance, are vulnerable to drought and heat stress during the flowering period.

    Crop diversification has long been used to minimize the impacts of climate insecurities in developing countries with less access to artificial irrigation and soil amendments. Switching to crops that can handle extreme weather events, like some beans, legumes and grains, could similarly increase Canada’s climate resilience. Additionally, using crop rotation strategies based on a greater diversity of crops grown may help maintain higher yields during adverse weather.

    How the government can help farmers

    Canada is a world leader in agricultural research. Globally, the country ranks fifth with respect to articles published, but is further behind when it comes to implementation on farms.

    Despite the high benefit-to-cost ratios of applications of agricultural research, only six per cent of Canadian farmers are willing to adopt new approaches before they have been tested at scale. Meanwhile, almost 30 per cent are reluctant to change approaches at all.

    This is hardly surprising. Change is always associated with risks. For instance, while the majority of studies show a net benefit of diversification strategies, there are huge, context-dependent variations in the outcomes. Climate, soil, crop species and microbial communities all matter in ways that can be difficult to predict.

    Most farmers do not have the resources to retool their farms for new crops and assume the risks. Many face financial struggles and rising debt. This is due in part to higher production costs and lower commodity prices caused by large corporations controlling both the sales of farm supplies and the purchase of agricultural products.

    Skilled labour shortages and issues retaining younger workers may also undermine the willingness and ability to diversify with new crops. Qualified migrant workers with agricultural backgrounds could help, but restrictive immigration policies make finding workers challenging.

    Reactive government assistance that just keeps farmers above water will not address the challenges of a changing global trade environment and climate. To sustain momentum, the government needs to proactively fund targeted, large-scale feasibility studies and provide training, recruitment and transition funding for those interested in novel crop systems.

    Agriculture is part of the foundation for our society. We have become accustomed to having access to plenty of fresh food, but this is not the global or historical norm.

    Canada’s food supply is maintained by farmers both at home and abroad who, for generations, have worked long days at low wages to feed us. If they do not receive the support required to adapt to our changing world, we might all discover how valuable food really is.

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

    – ref. Crop diversification is crucial to Canadian resilience in a changing world – https://theconversation.com/crop-diversification-is-crucial-to-canadian-resilience-in-a-changing-world-256763

    MIL OSI – Global Reports –

  • MIL-OSI: SEALSQ Corp, a member of the WISeKey Group, Signs a Share Purchase Agreement to Acquire 100% of IC’ALPS

    Source: GlobeNewswire (MIL-OSI)

    SEALSQ Corp, a member of the WISeKey Group, Signs a Share Purchase Agreement to Acquire 100% of IC’ALPS

    Geneva, Switzerland – May 27, 2025 – Ad-Hoc announcement pursuant to Art. 53 of SIX Listing Rules – WISeKey International Holding Ltd (NASDAQ: WKEY / SIX: WIHN) (“WISeKey” or “the Company”), a global leader in cybersecurity, digital identity, and IoT technologies, today announced the signing of a Share Purchase Agreement (“SPA”) between SEALSQ Corp (“SEALSQ”), , a leading developer and provider of Semiconductors, PKI, and Post-Quantum technology hardware and software solutions, a member of the WISeKey Group of Companies, and the shareholders of IC’ALPS SAS (the “Sellers”)1, an Application-Specific Integrated Circuit (“ASIC”) design and supply specialist based in Grenoble, France (“IC’ALPS”) for the acquisition of 100% of the share capital and voting rights of IC’ALPS(“the Acquisition”).

    The SPA is the result of a period of exclusive negotiations between SEALSQ CORP and the Sellers, announced by SEALSQ on February 27, 2025. The main terms and conditions of the SPA announced by WISeKey on May 22, 2025 remain applicable. The proposed strategic Acquisition is now solely subject to the satisfaction of certain closing conditions including among others, approval of the Acquisition by the French Ministry of the Economy in accordance with articles L.151-3 and R.151-1 et seq of the French Financial and Monetary Code (code monétaire et financier).

    The Transaction is expected to be completed in the third quarter of 2025, subject to satisfying the conditions to closing, including the necessary regulatory approval by the French Ministry of the Economy.

    About IC’ALPS:
    IC’ALPS is your one-stop-shop ASIC partner. Based in France (HQ in Grenoble, two design centers in Grenoble and Toulouse), the company provides customers with a complete offering for Application Specific Integrated Circuits (ASIC) and Systems on Chip (SoC) development from circuit specification, mastering design in-house, up to the management of the entire production supply chain. Its 100+ engineers’ areas of expertise include analog, digital and mixed-signal circuits (sensor/MEMS interfaces, ultra-low power consumption, power management, high-resolution converters, high voltage, signal processing, ARM and RISC-V based multiprocessors architectures, hardware accelerators) on technologies from 0.18 µm down to 1.8 nm, and from multiple foundries (TSMC, Global Foundries, Tower Semiconductor, X-FAB, STMicroelectronics, Intel Foundry, etc.). The company is active worldwide in medical, industrial, automotive, IoT, IA, mil-aero, and digital identity & security sectors. IC’ALPS is ISO 9001:2015, ISO 13485:2016, EN 9100:2018, Common Criteria certified, IATF16949-ready, member of TSMC Design Center Alliance (DCA), Intel Foundry Accelerator Design Services Alliance and Value Chain Alliance (DSA & VCA), ams Osram Preferred Partner and X-FAB’s partner network.
    More information: www.icalps.com and  https://www.linkedin.com/company/ic-alps

    About SEALSQ:
    SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable.

    SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries.

    For more information on our Post-Quantum Semiconductors and security solutions, please visit www.sealsq.com.

    About WISeKey
    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Forward-Looking Statements
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “continue,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or similar words. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the actual adjustments that arise upon conversion of the financial information of IC’ALPS to US GAAP in relation to net sales, operating expenses and income tax income in the income statement for twelve months ended December 31, 2024 and 2023, and in relation to intangible assets, current liabilities, and pension and debt liabilities in the balance sheet as at December 31, 2024 and 2023, in comparison with the French GAAP ; the entering into of definitive documents, the authorization by French regulatory authorities and the successful closing of the Acquisition; and the risks discussed in WISeKey’s filings with the SEC. Risks and uncertainties are further described in reports filed by WISeKey with the SEC.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact:  Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com    		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@theequitygroup.com

    1 The Sellers are Doliam SA, Mrs. Lucille Engels and Mr. Jean-Luc Triouleyre.

    The MIL Network –

  • MIL-OSI: Planisware – Availability of documents relating to the general meeting

    Source: GlobeNewswire (MIL-OSI)

    Availability of documents relating to the combined general meeting of June, 19 2025

    Paris, France, May 27, 2025 – Shareholders of Planisware, a leading B2B provider of SaaS in the rapidly growing Project Economy, are invited to attend the Annual General Meeting to be held on Thursday, June 19, 2025 at 9am CET. at Planisware’s headquarters, 200, avenue de Paris – 92320 Châtillon, France (the “Meeting”).

    The meeting notice, including the agenda and the text of the proposed resolutions, was published in the Bulletin des Annonces Légales Obligatoires (BALO) No. 57 on May 12, 2025. The procedures for participating and voting at this Meeting are set out in this notice. It will be followed by a convening notice published in the BALO and in a legal gazette within the time limits specified by applicable laws and regulations.

    These notices are also available on Planisware website at the following address: https://planisware.com (section 2025 General Meeting).

    The Meeting will be broadcasted live on Planisware website1.

    How to participate

    Shareholders may choose one of the following three methods to exercise their voting rights at the Meeting:

    • attend the Meeting;
    • proxy the Chairman of the Meeting or any other natural or legal person;
    • vote by mail or online on the VOTACCESS website.

    The terms and conditions for participation will be detailed in the convening notice, which will be posted on the Planisware website (section General Meeting 2025).

    Availability of preparatory documents

    Shareholders may from now on consult and download the information and documents provided for in Article R.22-10-23 of the French Commercial Code (including the meeting notice, the convocation brochure, and the 2024 Universal Registration Document) relating to the Meeting on the Planisware’s website at the following address: https://planisware.com (section 2025 General Meeting).

    Documents that must be made available to shareholders in connection with general meetings are available at Planisware’s registered office, located at 200, avenue de Paris – 92320 Châtillon, France, in accordance with applicable legal and regulatory provisions.

    Written questions from shareholders

    Shareholders may submit written questions to Planisware in accordance with Articles L. 225-108 and R. 225-84 of the French Commercial Code. These questions should preferably be sent by email to the following address: assembleegenerale@planisware.com (or to Planisware’s registered office by registered letter with acknowledgment of receipt) no later than the fourth business day prior to the date of the Meeting, i.e., by midnight on June 13, 2025.

    They must be accompanied by proof of registration in the account.

    Upcoming event

    • June 24, 2025:                Dividend Ex-date
    • June 26, 2025:                Dividend Pay-date
    • July 31, 2025:                 H1 2025 results publication
    • October 21, 2025:         Q3 2025 revenue publication

    Contact

    About Planisware

    Planisware is a leading business-to-business (“B2B”) provider of Software-as-a-Service (“SaaS”) in the rapidly growing Project Economy. Planisware’s mission is to provide solutions that help organizations transform how they strategize, plan and deliver their projects, project portfolios, programs and products.

    With circa 750 employees across 16 offices, Planisware operates at significant scale serving around 600 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide. Planisware’s clients include large international companies, medium-sized businesses and public sector entities.

    Planisware is listed on the regulated market of Euronext Paris (Compartment A, ISIN code FR001400PFU4, ticker symbol “PLNW”).

    For more information, visit: https://planisware.com/ and connect with Planisware on LinkedIn.

    1 Unless technical reasons make this impossible or seriously disrupt the broadcast. Furthermore, it is noted that live voting via the Internet will not be possible during the broadcast of the Meeting.

    Attachment

    The MIL Network –

  • MIL-OSI: RCI BANQUE: ISSUANCE OF EUR 500 MILLION FIXED RATE GREEN NOTES MATURING IN JUNE 2030

    Source: GlobeNewswire (MIL-OSI)

    PRESS RELEASE 
      
    May 27th, 2025

      

    RCI BANQUE: ISSUANCE OF EUR 500 MILLION FIXED RATE GREEN NOTES MATURING IN JUNE 2030

    RCI Banque, operating under the commercial brand Mobilize Financial Services, announces the issuance of a € 500m 5-year green bond (June-30) bearing a 3.375% coupon.  

    The deal attracted a final order book above 1.8 billion euro coming from around 119 investors. 

    The proceeds from this Green Bond will be used to finance or refinance Battery Electric Vehicles (BEVs) and charging infrastructure.

    The success of this transaction demonstrates investors’ confidence in the financial strength of the company and its contribution to facilitate the transition to electric driving and help tackle climate change.

    Contact

    About Mobilize Financial Services   
    Attentive to the needs of all its customers, Mobilize Financial Services, a subsidiary of Renault Group, creates innovative financial services to build sustainable mobility for all. Mobilize Financial Services, which began operations nearly 100 years ago, is the commercial brand of RCI Banque SA, a French bank specializing in automotive financing and services for customers and networks of Renault Group, and for the brands Nissan and Mitsubishi in several countries.   
    With operations in 35 countries and nearly 4,000 employees, Mobilize Financial Services financed more than 1,3 million contracts (new and used vehicles) in 2024 and sold 3,7 million services. At the end of December 2024, average earning assets stood at 55,9 billion euros of financing and pre-tax earnings at 1,194 million euros.    
    Since 2012, the Group has deployed a deposit-taking business in several countries. At the end of December 2024, net deposits amounted to 30,5 billion euros, or 50 % of the company’s net assets.    
    To find out more about Mobilize Financial Services: www.mobilize-fs.com/   
    Follow us on Twitter: @Mobilize_FS  

    Attachment

    The MIL Network –

  • MIL-OSI: Amundi General Meeting

    Source: GlobeNewswire (MIL-OSI)

    Amundi General Meeting
    Olivier Gavalda becomes Chairman of the Board of Directors
    All resolutions have been approved with an average approval rate of 98.34%

    Shareholders’ General Meeting of Amundi was held on Tuesday 27 May 2025. With a quorum of 92.79%, the General Meeting approved all the resolutions submitted by the Board of Directors, with an average approval rate of 98.34%.

    After approving the financial statements for 2024, the General Meeting of Amundi has notably approved the distribution of a dividend of €4.25 per share. The ex-dividend date is set at 10 June 2025 and the dividend will be paid from 12 June 2025.

    The General Meeting also approved the appointment as Director of Olivier Gavalda, who becomes Chairman of the Board of Directors, and the appointment of Jean-Christophe Mieszala as independent Director.

    The detailed results of the votes of the General Meeting will be available on the website https://about.amundi.com/ within the regulatory timeframe.

    Biographies

    Olivier Gavalda has spent his entire career at Crédit Agricole. He joined Crédit Agricole du Midi in 1988 where he successively held the positions of Organisation Project Manager, Branch Manager, Training Manager and finally Head of Marketing. In 1998, he joined Crédit Agricole Ile-de-France as Regional Director, then in 2002 he was appointed Deputy Chief Executive Officer of Crédit Agricole Sud Rhône-Alpes, in charge of Development and Human Resources. In 2007 he became Chief Executive Officer of Crédit Agricole Champagne-Bourgogne. In 2010, he joined Crédit Agricole S.A. as Head of the Regional Banks Division and then in 2015 he was appointed Deputy Chief Executive Officer in charge of the Development, Customer and Innovation Division. In 2016, he became Chief Executive Officer of Crédit Agricole Ile-de-France. In November 2022, he has been appointed Deputy Chief Executive Officer of Crédit Agricole S.A. in charge of Universal Bank. Olivier Gavalda is Chief Executive Officer of Crédit Agricole S.A. since 14 May 2025.

    Olivier Gavalda holds a master’s degree in Econometrics and a DESS (post-graduate diploma) in organisation/computing from Arts et Métiers.

    Jean-Christophe Mieszala served as a French civil servant and worked at the World Bank, until he joined McKinsey & Company in 1994. After several years in the United States, he moved to France and was elected Partner in France in 2000, then Senior Partner in 2006. He served as Managing Partner France (chief executive officer) from 2010 to 2017, then Global Chief Risk Officer from 2018 to 2024. He was also a member of McKinsey’s Global Board of Directors from 2018. He left McKinsey in September 2024. In addition to his consulting activity for companies for nearly 30 years, he has been making regular contributions to various think tanks (WEF, Institut de l’Entreprise, MGI, etc.) and market initiatives concerning the French financial system and the French industrial ecosystem.

    Jean-Christophe Mieszala is a member of the Advisory Committee of the Banque de France, a board member of Ecole des Mines ParisTech and of Allianz France.

    Former student of the Ecole Polytechnique (class of 1985), Jean-Christophe Mieszala trained at the Corps des Mines (French civil service) until 1991 and obtained his MBA with honors from INSEAD in 1994.

    ***

    About Amundi

    Amundi, the leading European asset manager, ranking among the top 10 global players1, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €2.2 trillion of assets2.

    With its six international investment hubs3, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

    Amundi clients benefit from the expertise and advice of 5,700 employees in 35 countries.

    Amundi, a trusted partner, working every day in the interest of its clients and society

    www.amundi.com   

    Press contacts:        
    Natacha Andermahr 
    Tel. +33 1 76 37 86 05
    natacha.andermahr@amundi.com 

    Corentin Henry
    Tel. +33 1 76 36 26 96
    corentin.henry@amundi.com

    Investor contacts:
    Cyril Meilland, CFA
    Tel. +33 1 76 32 62 67
    cyril.meilland@amundi.com 

    Thomas Lapeyre
    Tel. +33 1 76 33 70 54
    thomas.lapeyre@amundi.com 

    Annabelle Wiriath

    Tel. + 33 1 76 32 43 92

    annabelle.wiriath@amundi.com

    1Source: IPE “Top 500 Asset Managers” published in June 2024, based on assets under management as at 31/12/2023
    2Amundi data as at 31/03/2025
    3Paris, London, Dublin, Milan, Tokyo and San Antonio (via our strategic partnership with Victory Capital)

    Attachment

    The MIL Network –

  • MIL-OSI: Soitec Reports Fourth Quarter Revenue and Full-Year Results of Fiscal Year 2025

    Source: GlobeNewswire (MIL-OSI)

    SOITEC REPORTS FOURTH QUARTER REVENUE AND
    FULL-YEAR RESULTS OF FISCAL YEAR 2025

    • Q4’25 revenue reached €327m, stable at constant exchange rates and perimeter compared to Q4’24
    • FY’25 revenue amounted to €891m, down 9% both on a reported basis and at constant exchange rates and perimeter, in line with revised guidance
    • Soitec accelerated diversification confirmed with POI becoming Soitec’s fourth product to generate annual revenue of around $100m or more
    • Robust FY’25 EBITDA1margin2at 33.5%, current EBIT margin at 15.2%
    • Positive FY’25 Free Cash Flow, at €26m, while maintaining strong R&D and industrial investments
    • Q1’26 revenue, impacted by the anticipated phase-out of Imager-SOI, is expected down around 20% year-on-year at constant exchange rates and perimeter (Imager-SOI Q1’25 revenue: $25m)
    • FY’26 Capex cash-out expected around €150m, down from €230m in FY’25
    • Strong technology megatrends and Soitec’s innovative engineered substrates continue to sustain Soitec addressable market growth from ~5m wafers (200mm equivalent) in 2024 to ~12m in 2030
    • Given the current reduced visibility and market uncertainties, the Group withdraws any guidance, whether related to all or part of its activities. This includes the projection of a quite limited growth for FY’26, as well as the medium-term ambition to reach a revenue target of $2bn with an EBITDA margin of approximately 40%. Going forward, the Group will only provide revenue guidance on a quarterly basis

    Bernin (Grenoble), France, May 27th, 2025 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced its revenue for the fourth quarter of fiscal year 2025 and its full-year results of fiscal year 2025 (ended on March 31st, 2025). The financial statements3 were approved by the Board of Directors during its meeting today.

    Pierre Barnabé, Soitec’s CEO, commented: “On the back of strong sales in the fourth quarter, we closed fiscal year 2025 in line with our revised guidance, with a high-single digit decline in full-year revenue. In this context, strict cost management enabled us to deliver a robust EBITDA margin, generate positive free cash flow, and continue investing both in innovation and in our industrial capacity – all while maintaining a very healthy balance sheet.

    In a volatile and uncertain economic environment, we are focusing on parameters within our control to strengthen our fundamentals and accelerate our diversification beyond RF-SOI and beyond Mobile Communications. With the growing adoption of our new products by industry leaders – POI becoming an industry standard for innovative smartphones and Photonics-SOI gaining traction among industry leaders to equip the next generation of AI Datacenters – we have been able to partially offset the ongoing RF-SOI inventory correction and mitigate the impact of the weakness in the automotive industry. While RF-SOI remains by far the first contributor to our revenue, three other products – FD-SOI, Power-SOI and POI – are now each generating around or above 100 million US dollars in revenue.

    This environment however provides limited visibility. We have therefore decided to suspend all previously issued guidance and to only provide revenue guidance on a quarterly basis. We expect Q1’26 to reflect the impact of the Imager-SOI phase out, which we had already anticipated and prepared for. Q1’26 revenue is hence expected to be down around 20% year on year, Imager-SOI contributing 25 million dollars in Q1’25.

    We remain confident in our solid fundamentals and in our ability to accelerate growth as soon as our end markets begin to recover. Our strong technology megatrends – 5G, Energy Efficiency and Artificial Intelligence – and our unique expertise in engineered substrates continue to support the expansion of our Addressable Market from around 5 million wafers (200-mm equivalent) in 2024 to around 12 million in 2030”, added Pierre Barnabé.

    Fourth quarter FY’25 consolidated revenue

      Q4’25 Q4’24 Q4’25/Q4’24
             
             
    (Euros millions)     change reported chg. at const. exch. rates & perimeter
             
    Mobile Communications 220 222 -1% -2%
    Automotive & Industrial 45 44 +1% 0%
    Edge & Cloud AI 63 70 -11% +2%
             
    Revenue 327 337 -3% -1%

    Soitec revenue reached 327 million Euros in Q4’25, down 3% on a reported basis compared with revenue of 337 million Euros achieved in Q4’24. This reflects a 1% year-on-year decline at constant exchange rates and perimeter, a negative scope4 effect of 3% related to the divestment of Dolphin Design’s businesses, and a positive currency impact of 1%.

    Each one of Soitec’s three divisions recorded an almost stable organic change in revenue in Q4’25 compared to the high base achieved in Q4’24. The slight organic decline in Mobile Communications revenue was partly offset by a small increase in Edge & Cloud AI revenue, while Automotive & Industrial was stable. This is however reflecting different dynamics per product, with further strong traction in POI wafers for smartphone filters and in Photonics-SOI wafers for data centers.

    Mobile Communications

    In the context of a moderately recovering smartphone market and with a progressively improving inventory situation across the supply chain, Mobile Communications revenue reached 220 million Euros in Q4’25, down 2% at constant exchange rates and perimeter year-on-year.

    On RF-SOI wafers, Soitec benefited, as expected, from a usually strong seasonal stock rebuilding at the beginning of the calendar year. Volumes of RF-SOI wafers sold were higher in Q4’25 than in Q4’24, with a slightly negative price / mix effect, thus partly mitigating a significant decrease in 200-mm RF-SOI volumes.

    Sales of POI (Piezoelectric-on-Insulator) wafers dedicated to RF filters continued to grow sequentially from one quarter to another, translating into a sharp year-on-year increase in Q4’25. The adoption of Surface Acoustic Wave (SAW) filters on POI continued to accelerate. Ten customers are in volume production, and thirteen others in qualification phase.

    Sales of FD-SOI wafers, the only solution for fully integrated 5G mmWave system-on-chip, have been slightly growing in Q4’25 compared to Q4’24.

    Automotive & Industrial

    Automotive & Industrial revenue reached 45 million Euros in Q4’25, flat at constant exchange rates and perimeter compared to Q4’24, despite the ongoing difficulties of the automotive market.

    After the particularly low level reached in Q3’25, volumes of Power-SOI wafers were significantly higher in Q4’25 than in Q4’24, although with a slightly negative price effect. Sales benefited from customer restocking at the beginning of their calendar year. Despite very low visibility, OEMs were keen to avoid stockouts in the event of a market rebound, but this most likely came at the expense of volumes in H1’26. As the Automotive market recovers, the outlook for Battery Management Systems remains strong and supports Soitec’s product roadmap towards 300-mm, further strengthening its positioning.

    Conversely, after a very strong performance in Q3’25, FD-SOI wafer sales recorded a slight year-on-year decline in Q4’25 compared to Q4’24. Automotive FD-SOI continues to be mostly driven by adoption for microcontrollers, radar and wireless connectivity, delivering superior performance and greater power efficiency compared to other existing technologies.

    Regarding SmartSiCTM, while Soitec initiated a sixth customer qualification process early Q4’25, the slower-than-expected growth of the electric vehicle market, combined with the longer than initially anticipated customers’ qualification cycles confirm the previously mentioned delay in the initially expected wafer production ramp-up.

    Edge & Cloud AI

    Edge & Cloud AI revenue reached 63 million Euros in Q4’25, up 2% at constant exchange rates and perimeter compared to Q4’24. On a reported basis revenue went down 11% as a result of the divestment of Dolphin Design’s businesses.

    Sales of Photonics-SOI wafers recorded another high sequential increase in Q4’25, as Soitec continues to benefit from a strong momentum in Cloud infrastructure investments across the Big Tech and Artificial Intelligence supply chains. On a year-on-year basis, sales were much higher than in Q4’24. As the exponential growth of AI-related computing power capabilities drives the need for more powerful and more energy-efficient data centers, Photonics-SOI has become a standard technology platform for high-speed and high bandwidth optical interconnections in data centers. Photonics-SOI are adopted in pluggable optical transceivers and used for the development of Co-Packaged Optics.

    In Q4’25 sales of FD-SOI wafers were above the level reached in Q3’25 but slightly down year-on-year compared to the high level recorded in Q4’24. This is mainly the consequence of deliveries requests put on hold by a couple of customers. FD-SOI technology is a key enabler for AI-driven consumer and industrial IoT applications due to its unique power efficiency, performance, thermal management and reliability advantages.

    Sales of Imager-SOI wafers for 3D imaging applications tapered off in Q4’25 due to the phase out of this product, as expected.

    FY’25 consolidated revenue

      FY’25 FY’24 FY’25/FY’24
             
    (Euros millions)     change reported chg. at const. exch. rates & perimeter
             
    Mobile Communications 546 611 -11% -12%
    Automotive & Industrial 129 163 -21% -22%
    Edge & Cloud AI 216 204 +6% +11%
             
    Revenue 891 978 -9% -9%

    Consolidated revenue reached 891 million Euros in FY’25, down 9% on a reported basis compared to 978 million Euros in FY’24. This reflects a 9% decline at constant exchange rates and perimeter, in line with Soitec’s latest guidance, a negative scope4 effect of 1% and a slightly positive currency impact of 1%.

    Overall, the sharp increase in sales of Photonics-SOI and POI wafers partly offset the drop in revenue recorded both in RF-SOI and in Power-SOI.

    • Mobile Communications revenue reached 546 million Euros in FY’25, down 11% on a reported basis and down 12% at constant exchange rates and perimeter year-on-year. Revenue was impacted by weaker RF-SOI volumes in connection with further inventory adjustment at customer level, especially in H1’25. RF-SOI performance was partly offset by a strong growth in POI wafer sales throughout the fiscal year and by slightly higher FD-SOI wafer sales. Mobile communications represented 61% of total revenue, almost stable vs FY’24.
    • Automotive & Industrial revenue amounted to 129 million Euros in FY’25, down 21% on a reported basis and down 22% at constant exchange rates and perimeter compared to FY’24. This revenue decline was primarily driven by lower Power-SOI volumes, reflecting weakness in the automotive market. Revenue from SmartSiC™ technology in connection with the initial phase of Soitec’s cooperation agreement with STMicroelectronics have also decreased year-on-year. This was partially offset by higher FD-SOI wafer sales. Automotive & Industrial represented 15% of total revenue against 17% in FY’24.
    • Edge & Cloud AI revenue reached 216 million Euros in FY’25, up 6% on a reported basis and up 11% at constant exchange rates and perimeter compared to FY’24. The organic increase in revenue was driven by higher sales of Photonics-SOI wafers, which benefit from sustained investment in Cloud infrastructure. Sales of FD-SOI went slightly down but remained at a high level, supported by the need for low-power computing devices and edge-AI applications. Imager-SOI sales were almost flat year-on-year despite the phase out of this product from early H2’25 onward. Edge & Cloud AI represented 24% of total revenue against 21% in FY’24.

    EBITDA1margin2maintained at a robust level

    Consolidated income statement (part 1)

    (Euros millions) FY’25 FY’24 % change
           
    Revenue 891 978 -9%
           
           
    Gross profit 286 332 -14%
    As a % of revenue 32.1% 34.0%  
           
    Net research and development expenses (85) (61) +39%
    Selling, general and administrative expenses (65) (63) +4%
           
           
    Current operating income 136 208 -35%
    As a % of revenue 15.2% 21.3%  
           
           
    EBITDA1,5 298 332 -10%
    As a % of revenue 33.5% 34.0%  

    Current operating income went down from 208 million Euros in FY’24 (21.3% of revenue) to 136 million Euros in FY’25 (15.2% of revenue). This reflects the weaker activity recorded in FY’25, but also higher R&D investment and higher depreciation expenses, as Soitec continues to invest to secure its competitiveness.

    • Gross profit reached 286 million Euros, down from 332 million Euros in FY’24. Gross margin declined by 1.9 points to 32.1% of revenue. This was essentially due to the lower sales volumes, of RF-SOI in particular, leading to a lower utilization of some of the industrial capacities, combined with an overall slightly negative price / mix effect. In addition, depreciation costs went up, reflecting the Group’s investment profile. These factors were mitigated by strong discipline in cost management, including lower purchase prices, by some agility in resource allocation between plants, and by higher subsidies.
    • Net R&D expenses increased from 61 million Euros in FY’24 (6.3% of revenue) to 85 million Euros in FY’25 (9.5% of revenue). Gross R&D expenses before capitalization went up 11% to 152°million Euros, as part of Soitec’s innovation strategy aimed at further investing in the next generation of SOI products, in compound semiconductors, as well as in new engineered substrates. In addition, Soitec booked a much lower amount of capitalized development costs in FY’25 (12 million Euros against 31 million Euros in FY’24). This was only partly offset by the recognition of higher R&D subsidies and higher prototype sales.
    • Selling, general and administrative (SG&A) expenses amounted to 65 million Euros in FY’25 (7.3% of revenue), up from 63 million Euros in FY’24. This slight increase is essentially due to non-recurring positive effects on labor costs recorded in FY’24 and higher depreciation expenses, notably related to recent IT investments in cybersecurity. On the other hand, lower share-based compensation and the divestment of Dolphin Design both had positive effects.

    EBITDA1,5 amounted to 298 million Euros in FY’25 compared to 332 million Euros in FY’24. EBITDA1,5 margin2 remained at a robust level, reaching 33.5%, only 50 basis points below the level of 34.0% recorded in FY’24. The combination of a lesser absorption of fixed costs due to lower volumes and higher level of R&D investments was offset by higher non-cash items, notably depreciation and amortization expenses and inventory valuation effects.

    Consolidated income statement (part 2)

    (Euros millions) FY’25 FY’24 % change
           
           
       
    Current operating income 136 208 -35%
           
           
    Other operating income / (expenses) (16) (3)  
           
           
    Operating income 119 205 -42%
           
    Net financial expense (9) (5)  
    Income tax (19) (23)  
           
           
    Net profit from continuing operations 91 178 -49%
           
    Net profit from discontinued operations 1 0  
           
           
    Net profit, Group share 92 178 -48%
           
           
    Basic earnings per share (in €) 2.57 5.00 -49%
           
    Diluted earnings per share (in €) 2.56 4.88 -48%
           
           
    Weighted average number of ordinary shares 35,670,651 35,655,679  
           
    Weighted average number of diluted ordinary shares 35,868,688 37,710,587  

    Other operating expenses amounted to 16 million Euros in FY’25, mainly reflecting a 13 million Euros loss on the divestment of Dolphin Design’s businesses.

    Consequently, the operating income stood at 119 million Euros, down from 205 million Euros in FY’24.

    The net financial result came as an expense of 9 million Euros in FY’25 compared to an expense of 5 million Euros in FY’24. Net financial expenses were 2 million Euros higher than in FY’24, reflecting new financing arrangements, while a net foreign exchange loss of 2 million Euros was recorded in FY’25 against a gain of 1 million Euros in FY’24.

    The income tax expense amounted to 19 million Euros in FY’25, down from 23 million Euros in FY’24. The effective tax rate, however, increased from 11% in FY’24 to 17% in FY’25, as a result of specific one-off items.

    In line with the decline in operating income, the net profit amounted to 92 million Euros in FY’25 (10.3% of revenue), down from 178 million Euros in FY’24 (18.2% of revenue).

    Positive Free Cash Flow generation

    Consolidated cash-flows

    (Euros millions) FY’25 FY’24
         
    Continuing operations    
         
    EBITDA1,6 298 332
         
    Inventories (38) (19)
    Trade receivables (30) (94)
    Trade payables (15) (45)
    Other receivables and liabilities 4 17
    Change in working capital requirement (79) (142)
    Tax paid (17) (25)
         
         
    Net cash generated by operating activities 202 165
         
    Net cash used in investing activities (176) (208)
         
         
    Free Cash Flow 26 (43)
         
    New loans and debt repayment (including finance leases), drawing on credit lines (36) (15)
    Financial expenses (14) (12)
    Liquidity contract and other items (1) (7)
         
         
    Net cash used in financing activities (50) (33)
         
    Impact of exchange rate fluctuations 4 (3)
         
    Net change in cash (21) (80)

    The Group generated a positive Free Cash Flow of 26 million Euros in FY’25, which represents a 69 million Euros improvement compared to the 43 million Euros negative Free Cash Flow recorded in FY’24. Despite a lower EBITDA1,5, this strong increase essentially comes as a result of a better change in working capital. It also benefited from lower tax paid and from reduced capital expenditure.

    Change in working capital remained under control with a cash outflow at 79 million Euros in FY’25, compared to a cash outflow of 142 million Euros in FY’24. FY’25 cash outflow is essentially reflecting:

    • a 38 million Euros increase in inventories as a couple of customers requested to put some deliveries on hold while some late changes in product mix also resulted in an increase in bulk material inventories,
    • a 30 million Euros increase in trade receivables, explained by a different customer mix,
      • a 15 million Euros decrease in trade payables.

    The net cash used in investing activities amounted to 176 million Euros in FY’25, compared to 209 million Euros in FY’24. It takes into account financial income from cash investment of 19 million Euros (17 million Euros in FY’24). Including new production equipment under leases (31 million Euros in FY’25 vs. 51 million Euros in FY’24), total cash out related to capital expenditure amounted to 230 million Euros as expected. It compares with 276 million Euros spent in FY’24. Capital expenditure was essentially related to industrial investments, including:

    • additional POI manufacturing tools in Bernin to increase capacity,
    • production capacity for new SOI products (RF-SOI and Photonics-SOI) in Singapore and 300-mm SOI refresh capacity in Bernin,
    • the ongoing extension of Singapore 300-mm facility (for the part already started),
    • completion of the 200-mm SmartSiCTM pilot line in Bernin.

    Capital expenditure also included IT investments as well as investments supporting the Group’s innovation strategy and its environmental policy.

    Net cash used in financing activities amounted to 50 million Euros in FY’25 (33 million Euros in FY’24) essentially reflecting a net decrease in borrowings and related interest paid.

    In total, including a 4 million Euros positive impact of exchange rate fluctuations (3 million Euros negative impact in FY’24), the net cash outflow reached 21 million Euros in FY’25 (80 million Euros in FY’24) resulting in a steady strong cash position of 688 million Euros on March 31st, 2025.

    Strong balance sheet maintained

    Soitec maintained a strong balance sheet as of March 31st, 2025.

    Shareholders’ equity stood at 1.6 billion Euros on March 31st, 2025, up 100 million Euros from March 31st, 2024.

    Financial debt on March 31st, 2025, was slightly up, at 782 million Euros against 747 million Euros on March 31st, 2024. Taking into account the 21 million Euros cash outflow recorded in FY’25, the net debt position6 was kept at a moderate level, at 94 million Euros on March 31st, 2025, up from 39 million Euros on March 31st, 2024.

    FY’26 outlook

    Given the current reduced visibility and market uncertainties, the Group withdraws any guidance, whether related to all or part of its activities. This includes the projection of a quite limited growth for FY’26, as well as the medium-term ambition to reach a revenue target of $2bn with an EBITDA margin of approximately 40%. Going forward, the Group will only provide revenue guidance on a quarterly basis.

    Q1’26 revenue, impacted by the anticipated phase-out of Imager-SOI, is expected down around 20% year-on-year (Imager-SOI Q1’25 revenue: $25m). FY’26 Capex cash-out is expected around €150m, down from €230m in FY’25.

    Operating model at scale

    Soitec continues to pursue its long-term growth strategy, supported by structural trends in its end markets and the accelerated diversification of its product portfolio.

    In this context, Soitec has defined an operating model at scale, representing the financial profile the Group could achieve when operating at a higher volume level. This model reflects the Group’s internal assessment of the efficiencies and profitability enabled by its current industrial and technological platform.

    Based on its market assessment and competitive positioning, Soitec continues to grow its manufacturing capacity, in line with market growth and customer demand. The Group anticipates investing ~€770m to scale its production capacity to enable a $2bn revenue run-rate, which should yield significant operating leverage and cash generation improvement. Given ongoing reduced visibility and market uncertainties, the Group will not guide on a specific timing, which will be influenced by external factors beyond its control.

    This operating model and the associated ambitions and financial information are not guidance and should not be interpreted as a financial objective or forecast. Actual results will depend on market dynamics, customer adoption, and execution.

    Key events of Q4 FY’25

    Divestment of Dolphin Design’s main businesses

    Dolphin Design’s mixed-signal IP activities have been acquired on October 31st, 2024, by Jolt Capital, a private equity firm specializing in European deeptech investments. Dolphin Design’s ASIC activities were sold to NanoXplore, a major player in SoC and FPGA semiconductor design, on December 30th, 2024.

    Dolphin Design, acquired by Soitec in 2018, has long been at the forefront of delivering cutting-edge semiconductor design solutions in mixed-signal IP and ASICs. The sale of Dolphin Design’s two main business activities will support Soitec’s focus on strategic development and growth opportunities in its core advanced semiconductor materials business.

    A 13 million Euros loss on the divestment of Dolphin Design’s businesses was recorded in other operating expenses in FY’25. There will be no further impact on Soitec financial statements from FY’26.

    Soitec contributes to accelerated development of integrated optical connectivity solutions for AI data centers with its silicon photonics SOI technology

    On March 19th, 2025, Soitec welcomed recent industry steps to accelerate development and commercialization of co-packaged optics (CPO) solutions for data centers. The rapidly rising data requirements of AI and high-performance computing (HPC) are driving demand for silicon photonics-based CPO architectures. For data centers, CPO adoption enables energy savings of around 30% compared with current optical transceiver-based solutions. The momentum for widespread CPO adoption is building up. Following the earlier introduction of groundbreaking CPO products and demonstrators by Broadcom, Intel, and Marvell, NVIDIA unveiled its first CPO products, Spectrum-X and Quantum-X. Soitec is at the forefront of the transition from electrical to optical interconnects. CPO components are reliant on specialist silicon-on-insulator (Photonics-SOI) substrates, in which Soitec is a leader. The coming shift to CPO-based data center architectures is a major opportunity for Soitec.

    Soitec joins the SEMI Silicon Photonics industry alliance

    Soitec also announced on March 19th, 2025, that it has joined the SEMI Silicon Photonics Industry Alliance (SEMI SiPhIA), a group of more than 100 semiconductor industry partners, with TSMC and ASE serving as the alliance’s advocates. The alliance’s mission is to drive silicon photonics innovation and applications, advance industry standards, and foster knowledge-sharing, resource integration, and technical exchange. Through its membership, Soitec will contribute to strengthening supply chain partnerships and fostering international collaboration on the deployment of key next-generation technologies, including CPO.

    Soitec confirms its excellence in innovation with progress up 2024 INPI patent ranking

    On March 31st, 2025, Soitec once again demonstrated its excellence in innovation through its rise in the 2024 ranking of patent filers published by the INPI (the French National Institute of Industrial Property). This recognition highlights Soitec’s unwavering commitment to innovation and confirms its central role in the development of disruptive technologies, driven by a global strategy and a network of research centers spread across several continents. With 76 patents filed in France in 2024, compared to 62 the previous year, Soitec confirms its 1st place among the most innovative mid-sized companies, for the second consecutive year, and rises to 22nd place nationally, up three places. With approximately 400 patents filed worldwide each year, Soitec has established itself as an essential technology leader.

    # # #

    FY’25 results will be commented during an analyst and investor meeting in Paris on May 28th, 2025, at 2pm CET. The meeting will be held in English.

    The live webcast will be available on: https://channel.royalcast.com/landingpage/soitec/20250528_1/

    The investor presentation is available for download on:
    https://www.soitec.com/home/investors/full-year-results-of-fiscal-year-2024—2025

    # # #

    Annual General Meeting

    At its meeting today, the Board of Directors decided to convene the Annual General Meeting of shareholders on July 22nd, 2025. On this occasion, it decided to renew three of the four directors’ terms of office due to expire (Bpifrance Participations, CEA Investissement and Fonds Stratégique de Participations). Regarding Kai Seikku, the latter did not wish to be re-elected.

    Q1’26 revenue

    Q1’26 revenue is due to be published on July 22nd, 2025, after market close.

    # # #

    Disclaimer

    This document is provided by Soitec (the “Company”) for information purposes only.

    The Company’s business operations and financial position are described in the Company’s 2023-2024 Universal Registration Document (which notably includes the Annual Financial Report) which was filed on June 5th, 2024, with the French stock market authority (Autorité des Marchés Financiers, or AMF) under number D.24-0462, as well as in the Company’s 2024-2025 half-year financial report released on November 20th, 2024. The French versions of the 2023-2024 Universal Registration Document and the 2024-2025 half-year financial report, together with English courtesy translations for information purposes of both documents, are available for consultation on the Company’s website (www.soitec.com), in the section Company – Investors – Financial Reports.

    Your attention is drawn to the risk factors described in Chapter 2.1 (Risk factors and controls mechanism) of the Company’s 2023-2024 Universal Registration Document.

    This document contains summary information and should be read in conjunction with the 2023-2024 Universal Registration Document and the 2024-2025 half-year financial report.

    This document contains certain forward-looking statements. These forward-looking statements relate to the Company’s future prospects, developments and strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. By their nature, forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Forward-looking statements are not a guarantee of the Company’s future performance. The occurrence of any of the risks described in Chapter 2.1 (Risk factors and controls mechanism) of the 2023-2024 Universal Registration Document may have an impact on these forward-looking statements.

    The Company’s actual financial position, results and cash flows, as well as the trends in the sector in which the Company operates may differ materially from those contained in this document. Furthermore, even if the Company’s financial position, results, cash-flows and the developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such elements cannot be construed as a reliable indication of the Company’s future results or developments.

    The Company does not undertake any obligation to update or make any correction to any forward-looking statement in order to reflect an event or circumstance that may occur after the date of this document.

    This document does not constitute or form part of an offer or a solicitation to purchase, subscribe for, or sell the Company’s securities in any country whatsoever. This document, or any part thereof, shall not form the basis of, or be relied upon in connection with, any contract, commitment or investment decision.

    Notably, this document does not constitute an offer or solicitation to purchase, subscribe for or to sell securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from the registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Company’s shares have not been and will not be registered under the Securities Act. Neither the Company nor any other person intends to conduct a public offering of the Company’s securities in the United States.

    # # #

    About Soitec

    Soitec (Euronext – Tech Leaders), a world leader in innovative semiconductor materials, has been developing cutting-edge products delivering both technological performance and energy efficiency for over 30 years. From its global headquarters in France, Soitec is expanding internationally with its unique solutions, and generated sales of 0.9 billion Euros in fiscal year 2024-2025. Soitec occupies a key position in the semiconductor value chain, serving three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge & Cloud AI (previously Smart Devices). The company relies on the talent and diversity of its 2,200 employees, representing 50 different nationalities, working at its sites in Europe, the United States and Asia. Soitec has registered over 4,200 patents.

    Soitec, SmartSiC™ and Smart Cut™ are registered trademarks of Soitec.

    For more information: https://www.soitec.com/en/ and follow us on X: @Soitec_Official

    # # #

    # # #

    Financial information and consolidated financial statements in appendix include:

    – Consolidated revenue per quarter

    – FY’25 consolidated income statement

    – Balance sheet at March 31st, 2025

    – FY’25 consolidated cashflows

    Consolidated revenue per quarter

    Quarterly revenue Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25   FY’24 FY’25
    (Euros millions)                      
    Mobile Communications 89   169   130   222 48   124   154   220   611 546  
    Automotive & Industrial 37 38 44 44 26 33 25 45   163 129
    Edge & Cloud AI 31 37 65 70 46 61 47 63   204 216
                           
    Revenue 157   245   240   337 121   217   226   327   978   891  
    Change in quarterly revenue Q1’25/Q1’24 Q2’25/Q2’24 Q3’25/Q3’24 Q4’25/Q4’24   FY’25/FY’24
    (vs. previous year) Reported
    change    		 Organic change1 Reported
    change    		 Organic change1 Reported
    change    		 Organic change1 Reported
    change    		 Organic change1   Reported
    Change    		 Organic change1
                           
    Mobile Communications -45% -46% -27% -25% +18% +11% -1% -2%   -11% -12%
    Automotive & Industrial -29% -31% -13% -11% -43% -47% +1% 0%   -21% -22%
    Edge & Cloud AI +49% +47% +62% +66% -28% -30% -11% +2%   +6% +11%
                           
    Revenue -23% -24% -11% -9% -6% -10% -3% -1%   -9% -9%

    1         At constant exchange rates and comparable scope of consolidation:

    • there was no scope effect in Q1’25 and Q2’25 vs. Q1’24 and Q2’24
    • in Q3’25 there is a negative scope effect related to the divestment of Dolphin Design’s mixed signal IP activities (completed on October 31st, 2024)
    • in Q4’25, in addition to Dolphin Design’s mixed signal IP activities, the negative scope effect also includes the divestment of Dolphin Design’s ASIC activities (completed on December 30th, 2024).

    Consolidated financial statements for FY’25

    As previously reported, Soitec’s refocus on Electronics operations decided in January 2015 was nearly completed on March 31st, 2016. Consequently, the FY’25 residual income and expenses relating to Solar and Other activities are reported under ‘Net result from discontinued operations’, below the ‘Operating income’ line, meaning that down to the line ‘Net result after tax from continuing operations’, the consolidated income statement fully and exclusively reflects the Electronics activity as well as the Group’s corporate functions expenses. This was already the case in FY’24 financial statements.

    Consolidated income statement

      FY’25 FY’24
    (Euros millions) (ended

    March 31st, 2025)

    		 (ended

    March 31st, 2024)
    Revenue 891 978
    Cost of sales (605) (646)
         
    Gross profit 286 332
    Research and development expenses (85) (61)
    General, sales and administrative expenses (65) (63)
    Current operating income 136 208
    Other operating expenses (16) (3)
    Operating income 119 205
    Financial income 19 21
    Financial expenses (28) (25)
    Net financial expense (9) (5)
    Profit before tax 110 201
    Income tax (19) (23)
    Net profit from continuing operations 91 178
    Net profit from discontinued operations 1 0
    Consolidated net profit 92 178
    Net profit, Group share 92 178
    Basic earnings per share (in €) 2.57 5.00
    Diluted earnings per share (in €) 2.56 4.88
    Weighted average number of ordinary shares 35,670,651 35,655,679
    Weighted average number of diluted ordinary shares 35,868,688 37,710,587

    Balance sheet

    Assets March 31st, 2025 March 31st, 2024
    (Euros millions)    
         
    Non-current assets    
    Intangible assets 130 156
    Property, plant and equipment 1,003 913
    Non-current financial assets 30 19
    Other non-current assets 73 70
    Deferred tax assets 59 62
    Total non-current assets 1,295 1,220
         
    Current assets    
    Inventories 231 209
    Trade receivables 463 448
    Other current assets 124 101
    Current financial assets 7 7
    Cash and cash equivalents 688 708
    Total current assets 1,512 1,472
         
    Total assets 2,807 2,692
    Equity and liabilities March 31st, 2025 March 31st, 2024
    (Euros millions)    
         
    Equity    
    Share capital 71 71
    Share premium 228 228
    Reserves and retained earnings 1,280 1,180
    Other reserves 15 15
    Equity-Group share 1,595 1,495
    Total equity 1,595 1,495
         
    Non-current liabilities    
    Non-current financial debt 375 669
    Provisions and other non-current liabilities 94 79
    Total non-current liabilities 469 748
         
    Current liabilities    
    Current financial debt 406 78
    Trade payables 153 169
    Provisions and other current liabilities 185 202
         
    Total current liabilities 743 449
         
    Total equity and liabilities 2,807 2,692

    Consolidated cash flows

      FY’25 FY’24
    (Euros millions) (ended
    March 31st, 2025)    		 (ended
    March 31st, 2024)
    Consolidated net profit 92 178
    of which continuing operations 91 178
    Depreciation and amortization expense 140 126
    Provision expense/(reversals), net 6 4
    Provisions expense / (reversals) for retirement benefit obligations, net 0 0
    (Gains)/losses on disposals of assets 15 0
    Income tax 19 23
    Net financial expense 9 5
    Share-based payments 11 14
    Other non-cash items 7 (17)
    Non-cash items related to discontinued operations (1) (1)
    EBITDA1 298 332
    of which continuing operations 298 332
    Inventories (38) (19)
    Trade receivables (30) (94)
    Trade payables (15) (45)
    Other receivables and payables 4 17
    Income tax paid (17) (25)
    Changes in working capital requirement and income tax paid related to discontinued operations (0) (0)
    Change in working capital requirement and income tax paid (96) (167)
    of which continuing operations (96) (167)
    Net cash generated by operating activities 201 165
    of which continuing operations 202 166
      FY’25 FY’24
    (Euros millions) (ended
    March 31st, 2025)    		 (ended
    March 31st, 2024)
    Net cash generated by operating activities 201 165
    of which continuing operations 202 166
    Purchases of intangible assets (27) (48)
    Purchases of property, plant and equipment (172) (177)
    Interest received 19 17
    Disposals/(acquisitions) of financial assets 4 (1)
    Divestment flows related to discontinued operations 1 0
    Net cash used in investing activities (1) (176) (208)
    of which continuing operations (1) (176) (209)
    Loans and drawdowns on credit lines 45 55
    Repayment of borrowings and lease liabilities (81) (70)
    Interest paid (14) (12)
    Liquidity agreement – (8)
    Change in interest in subsidiaries without change of control (1) (0)
    Other financing flows – 2
    Financing flows related to discontinued operations (0) (0)
    Net cash used in financing activities (50) (33)
    of which continuing operations (50) (33)
    Effects of exchange rate fluctuations 4 (3)
    Net change in cash (21) (80)
    of which continuing operations (21) (80)
    Cash at beginning of the period 708 788
    Cash at end of the period 688 708

    (1) Net cash used in investing activities is net of leases and interest received. Total cash out related to capital expenditure amounted to 230 million Euros in FY’25 compared to 276 million Euros in FY’24.

    1 The EBITDA represents operating income before depreciation, amortization, impairment of non-current assets, non-cash items relating to share-based payments, provisions for impairment of current assets and for contingencies and expenses, and disposals gains and losses. EBITDA is not a financial indicator defined by IFRS and may not be comparable to EBITDA as reported by other groups. It represents additional information and should not be considered as a substitute for operating income or net cash generated by operating activities.

    2 EBITDA margin = EBITDA from continuing operations / Revenue.

    3 Audit procedures were completed and the audit report is in the process of being issued.

    4 The scope effect is related to the divestment of Dolphin Design’s mixed-signal IP activities (completed on October 31st, 2024) and that of Dolphin Design’s ASIC activities (completed on December 30th, 2024)

    5 EBITDA from continuing operations.
    6 Financial debt less cash and cash equivalents

    Attachment

    The MIL Network –

  • MIL-OSI: Soitec announces appointment of new Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    Soitec announces appointment of new Chief Financial Officer

    Bernin (France), May 27, 2025 – Soitec (Euronext – Tech Leaders), a world leader in the design and production of innovative semiconductor materials, is pleased to announce the appointment of Albin Jacquemont as its new Chief Financial Officer (CFO), effective today.

    Albin Jacquemont brings over 30 years of international experience in financial leadership, strategic planning, and corporate governance. His career spans listed and private equity-backed industrial and technology companies, including Inetum, Saur, Altran Technologies, Darty, and Carrefour. Throughout his tenure in these organizations, he has led major financial transformations and delivered significant value through operational performance improvement, cash-flow optimization and M&A execution.

    In his new role, Albin Jacquemont will be responsible for all finance-related matters at Group level. He will play a pivotal role in reinforcing Soitec’s financial and operational foundations and supporting the company’s next phase of sustainable growth and value creation.

    He succeeds Léa Alzingre, who will be stepping down to pursue new professional opportunities, having supported Soitec’s growth over the past six years.

    “We are delighted to welcome Albin Jacquemont to Soitec’s Executive Committee. His extensive experience across complex industrial and technology environments, combined with his proven track record in financial transformation and value creation, will be instrumental as we continue to scale globally. I am confident that his leadership will strengthen our financial strategy and support the acceleration of our sustainable growth ambitions. I would also like to warmly thank Léa Alzingre for her strong commitment and valuable contributions to Soitec’s development during her tenure”, commented Pierre Barnabé, Soitec’s CEO.

    “I am honored and excited to join Soitec’s Executive Committee, a global leader in innovative semiconductor materials. After a career spanning over three decades in senior financial leadership roles across Europe, the U.S., and emerging markets — including listed groups and private equity-owned companies — I look forward to bringing my experience to support Soitec’s global ambitions and pioneering technologies”, Albin Jacquemont stated.

    *****

    About Soitec

    Soitec (Euronext – Tech Leaders), a world leader in innovative semiconductor materials, has been developing cutting-edge products delivering both technological performance and energy efficiency for over 30 years. From its global headquarters in France, Soitec is expanding internationally with its unique solutions, and generated sales of 0.9 billion Euros in fiscal year 2024-2025. Soitec occupies a key position in the semiconductor value chain, serving three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI. The company relies on the talent and diversity of its 2,300 employees, representing 50 different nationalities, working at its sites in Europe, the United States and Asia. Soitec has registered over 4,000 patents.

    Soitec, SmartSiC™ and Smart Cut™ are registered trademarks of Soitec.

    For more information: https://www.soitec.com/en/ and follow us on LinkedIn and X: @Soitec_Official

    *****

    Media Relations: media@soitec.com

    Investor Relations: investors@soitec.com

    Attachment

    The MIL Network –

  • MIL-OSI: Amendment to Euronext’s liquidity contract

    Source: GlobeNewswire (MIL-OSI)

    Amendment to Euronext’s liquidity contract        

    Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 27 May 2025 – Euronext N.V. today signed an amendment to the liquidity contract entered into with Rothschild Martin Maurel on 7 February 2018, in accordance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014, Commission Delegated Regulation (EU) 2016/908 of 26 February 2016, Articles L. 225-209 et seq. of the French Commercial Code, AMF Decision No. 2018-01 of 2 July 2018 (the AMF Decision) and the provisions referred to therein.

    Under this amendment, the amount allocated to the liquidity account was increased by 4,500,000 euros (four million five hundred thousand euros).

    CONTACTS  

    ANALYSTS & INVESTORS – ir@euronext.com

    Investor Relations        Aurélie Cohen                 

            Judith Stein        +33 6 15 23 91 97          

    MEDIA – mediateam@euronext.com 

    Europe        Aurélie Cohen         +33 1 70 48 24 45   

            Andrea Monzani         +39 02 72 42 62 13 

    Belgium        Marianne Aalders         +32 26 20 15 01                 

    France, Corporate        Flavio Bornancin-Tomasella        +33 1 70 48 24 45                 

    Ireland        Catalina Augspach        +33 6 82 09 99 70                

    Italy         Ester Russom         +39 02 72 42 67 56                 

    The Netherlands        Marianne Aalders         +31 20 721 41 33                 

    Norway         Cathrine Lorvik Segerlund        +47 41 69 59 10                 

    Portugal         Sandra Machado        +351 91 777 68 97                                 

    About Euronext  

    Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway and Portugal.

    As of March 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal host nearly 1,800 listed issuers with €6.3 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.

    For the latest news, go to euronext.com or follow us on X and LinkedIn.

    Disclaimer

    This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

    © 2025, Euronext N.V. – All rights reserved. 

    The Euronext Group processes your personal data in order to provide you with information about Euronext (the “Purpose”). With regard to the processing of this personal data, Euronext will comply with its obligations under Regulation (EU) 2016/679 of the European Parliament and Council of 27 April 2016 (General Data Protection Regulation, “GDPR”), and any applicable national laws, rules and regulations implementing the GDPR, as provided in its privacy statement available at: www.euronext.com/privacy-policy. In accordance with the applicable legislation you have rights with regard to the processing of your personal data: for more information on your rights, please refer to: www.euronext.com/data_subjects_rights_request_information. To make a request regarding the processing of your data or to unsubscribe from this press release service, please use our data subject request form at connect2.euronext.com/form/data-subjects-rights-request or email our Data Protection Officer at dpo@euronext.com.

    Attachment

    The MIL Network –

  • MIL-OSI Russia: “It’s a great joy to be able to discuss your scientific ideas with interested people.”

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Created in Nizhny Novgorod campus of HSE International Laboratory of Dynamic Systems and Applications conducts deep theoretical research and applied studies, including the study of ocean waves, solar corona reconnections, volcanic phenomena and ship stability. Its scientists, who have won more than 20 significant scientific grants over the past 5 years, actively collaborate with Russian and foreign colleagues from China, Spain, the USA, Great Britain, Brazil and other countries. The Vyshka.Glavnoe news service spoke with its head, Professor Olga Pochinka, about the work of the laboratory.

    — When was the laboratory created?

    — Let’s start with 2014, when colleagues from the Mathematics Department of the Moscow HSE suggested creating a department on the Nizhny Novgorod campus, and we were fired up by the idea. Together with five colleagues, we moved from the Nizhny Novgorod State University to the HSE in Nizhny Novgorod, and in 2015 we opened the first intake of undergraduate students for the Mathematics educational program, a total of eight people.

    Then the recruitment began to expand, and I began inviting people from UNN. We worked as research fellows at the Laboratory of Theory and Practice of Decision Support and simultaneously taught students.

    In 2017, we separated into the Laboratory of Topological Methods of Dynamics, and in 2019, we won a mega-grant from the Government, and this was the only mega-grant in fundamental mathematics won in the Nizhny Novgorod region in the entire history of projects. Our leading scientist Dmitry Turaev is also a former Nizhny Novgorod resident, now a professor at the British Imperial College, a renowned specialist in the field of dynamic systems.

    The laboratory began to grow rapidly, and in parallel with the increase in scientific work, we also expanded our educational areas: we created a postgraduate program, a master’s program, and this year we are opening a new bachelor’s program in applied mathematics.

    — Tell us about the priority areas of the laboratory’s work.

    — Initially, our laboratory was created primarily as a center for fundamental scientific research. Mathematics is a self-sufficient science, and there are always people who are interested in learning its own laws. An equally important activity is to explain how these laws work in practice. Recently, the laboratory team has noticeably expanded with researchers actively engaged in applied developments.

    — What applied areas would you highlight?

    — We have problems that come from physics. For example, we studied the effects of reconnection in the solar corona. From the point of view of deep mathematical theory, we explained the mechanism of solar flares. If we imagine the surface of the Sun as a two-dimensional sphere, then the magnetic charges on the surface create domes that change their location depending on the configuration of the charges. When the domes collide, so-called separators appear, visually manifesting themselves in the occurrence of a solar flare. The mechanisms of dome reconnection were explained using the bifurcation of the birth of a heteroclinic curve, widely known in the theory of dynamic systems.

    We also managed to explain the pattern recognition algorithm by the existence of an energy function in a dynamic system. In general, tasks related to the construction of such functions are very important. All dynamic systems are largely dissipative, that is, they lose energy over time. We managed to establish the relationship between the energy function and the dynamics of the system. That is, a scientist, even without knowing the system, can measure the indicators of its energy function and say a lot about the dynamics of the system.

    These are just the applications I have worked with personally. But there are many employees in the lab developing other applied areas.

    Efim Pelinovsky and his student Ekaterina Didenkulova conducted a theoretical analysis of internal waves that arise in the ocean during an explosive eruption of an underwater volcano. They calculated the characteristics of the wave field for different ratios between the radius of the explosion source and the depth of the basin. And they showed that the field of internal waves has the form of frequency-modulated groups, of which the head group has the maximum amplitude. The wave of maximum height in this train arrives significantly later than the weak head wave, which makes it possible to prepare for the approach of dangerous waves.

    Ioann Melnikov studies the dynamics of waves in both linear and nonlinear weakly dispersive models. In his work with shallow water equations, there is an interesting question about finding non-reflective bottom profiles, due to which a wave can propagate freely over large distances (with conservation of energy), which is important for applications. Together with Efim Pelinovsky, he obtained a countable family of limited bottom profiles and a continuous family in the form of underwater slides. Research into weakly nonlinear and weakly dispersive models (described by Korteweg-de Vries type equations) is also aimed at finding and studying waves that propagate with a constant speed and unchanged shape (in particular, soliton solutions). In this way, a classification of soliton solution shapes was obtained in the generalized Korteweg-de Vries equation, and now the question arises of how this classification can change with a different account of nonlinearity and dispersion.

    Fedor Peplin studies computational fluid dynamics, motion dynamics and stability of high-speed vessels. New criteria for the stability of hovercraft have been obtained. A model of the dynamics of an hovercraft with flexible skegs has been constructed, allowing for the design of amphibious vehicles for use in hard-to-reach regions. Issues related to the damping of various types of high-speed vessels have been studied. Work is currently underway to obtain new, more precise criteria for the stability of promising amphibious vehicles, taking into account the design features and operating conditions of the vehicles. Methods for modeling the dynamics of flexible pneumatic structures in a fluid flow are also being developed.

    — There are several scientific groups within the laboratory, conducting research in different directions. How did you manage to unite them?

    — The forming direction is dynamic systems, but almost all phenomena in the world fall under the definition of “dynamic systems”. Thus, Natalia Stankevich uses them for research in biology and medicine, and Alexey Kazakov is engaged in numerical calculation for specific systems of differential equations describing such phenomena as turbulence, Celtic stone, Chaplygin’s top, etc.

    Under the umbrella of dynamic systems in the laboratory, specialists in such fundamental mathematical areas as algebra, geometry, topology, function theory, etc., which are not directly related to dynamic systems, also feel great. There is a very strong group of physicists involved in fluid mechanics. Often, such scientific symbiosis brings unexpected results at the junction of research areas.

    — How do you attract such diverse specialists?

    — As a rule, a young or established scientist appears in the laboratory as a participant in some won grant or project. The laboratory management does everything possible to create comfortable conditions for the employees, welcoming any creative initiative. People appreciate this and in most cases remain in the team after the end of the project, some even move to Nizhny Novgorod for permanent residence.

    Another source of promising researchers is educational activity. Since the laboratory serves several educational programs, the range of which is expanding every year, the number of professors and teachers naturally increases. Due to the presence of a scientific department, teachers have a smaller workload than in their previous places of work. The newly arrived employees are happy to devote their free time to scientific research.

    The main source of influx of personnel, of course, are students of our program “Fundamental and Applied Mathematics”.

    We try not only to attract students to scientific research, but also to track their emerging interest in a timely manner. We offer to work as an intern, some come in the first year of the bachelor’s degree. We involve them in active scientific life, grants, schools, conferences. The overwhelming majority stay in the laboratory, and this is a huge driving force

    We have now reached a staff of 60 employees, almost like a small research institute.

    — How important do you consider mentoring and personal example to be in science?

    — Extremely important. Specifically for our team, we managed to ensure the continuity of generations. In our laboratory, we have employees who are over 75–80 years old, very experienced scientists, some of whom studied with Academician Alexander Andronov, his closest associates and students. There are not so many middle-aged scientists (like me), but we managed to show young people scientists with a high academic culture, such as my scientific supervisor Vyacheslav Grines and his colleagues from the school of nonlinear oscillations.

    Let me remind you that the scientific school of nonlinear oscillations was created in Gorky (now Nizhny Novgorod) by young scientists who moved to the then closed city, headed by the future academician Alexander Andronov. A physicist by profession, he sought to describe mathematical models of physical processes and phenomena, to translate them into mathematical language. He created the radiophysics department at Gorky University, then the Institute of Applied Mathematics and Cybernetics was organized, and a scientific school was formed, known in the world as the school of dynamic systems.

    — How do you manage to find resources for research?

    — We constantly apply for grants and development programs — for established researchers, young people, external and internal to HSE. Over the past 5 years, we have won 21 grants — that’s a lot for a relatively small team. Thanks to young and experienced colleagues who go through the very labor-intensive application process. In general, the main rule of an ambitious team is to never stop at what has been achieved. Even if it seems that today you already have everything you wanted, you must constantly set new goals for yourself.

    — How was the international academic cooperation project formed and how does it work?

    — The project with Shanghai Tongji University is a joint Russian-Chinese grant, it began in 2024 and is designed for three years. The project mainly involves fundamental research in the qualitative theory of dynamic systems. We met the Chinese co-director of the project, Bin Yu, back in 2010 in France, where we worked together with world-class dynamist Christian Bonatti. To date, we have already written several joint articles.

    International scientific cooperation, exchange of ideas is always great. Our young employees went to China, and everyone really liked the atmosphere at the partner university. It is a great joy to have the opportunity to discuss your scientific ideas with interested people.

    — Do the laboratory and its staff work outside the university, implementing the educational function of HSE?

    — The annual international conference “Topological Methods in Dynamics” has been gathering like-minded scientists from all over the world within the walls of the Nizhny Novgorod HSE for 9 years now.

    This year we are holding another scientific conference dedicated to the 30th anniversary of the Nizhny Novgorod Mathematical Society, of which I am currently the president.

    For 6 years now, every March we have been holding a school for students called “Mathematical Spring”, inviting different lecturers and speakers, and judging by the students’ feedback, this is a very interesting format for them.

    For the second year in a row, we are organizing a student school at the Sirius Mathematical Center together with colleagues from Moscow State University and Moscow Institute of Physics and Technology.

    A good initiative was the holding of the All-Russian review of students’ diploma works, which will be held for the fifth time this year.

    In June-July we hold a thematic shift for schoolchildren called “Intellectual”. The children are immersed in mathematics, including applied mathematics, computer science, and artificial intelligence. It has been held for the tenth time, in recent years – in the “Salut” camp in the Nizhny Novgorod region.

    Throughout the school year, we have a “Mathematical Academy”, where schoolchildren gain their first experience working with scientific research. Our scientists generously share interesting tasks with young talents, and under their guidance, students annually become winners of the “Scientific Society of Students” research paper competition.

    I would like to emphasize once again that all this would be impossible without our youth with their energy and enthusiasm. It is great that we have them and that there are more and more of them.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI United Nations: 27 May 2025 Departmental update The Department of Digital Health and Innovation participates in the 13th Youth Pre-World Health Assembly

    Source: World Health Organisation

    Organized by the International Federation of Medical Students’ Associations (IFMSA) and hosted at Campus Biotech of the University of Geneva, the 13th Youth Pre-World Health Assembly session titled “What next after expiration? Global strategy on digital health 2020–2025 “brought together more than 60 IFMSA members (mostly medical students) in-person and online. The event featured presentations by the Head of the Capacity Building and Policy Unit (CBP) and the Technical Lead of the Global Initiative on Digital Health (GIDH) from the Department of Digital Health and Innovation in WHO Headquarters and the Research and Policy Coordinator from DTH Lab in Geneva, Switzerland. 

    Discussions included the Global Strategy on Digital Health 2020-2025 which through its four strategic objectives, seeks to align countries and stakeholders through collaboration and knowledge exchange, advance the implementation of national digital health strategies, strengthen governance for digital health and global, regional and national level, and advocate for people-centered health systems. In its 156th Session the WHO Executive Board approved as agenda items for a decision by the 78th session of the World Health Assembly, the extension of the strategy’s timeline to 2027 as well as a renewal from 2028 – 2033, ensuring continuity of the Strategy beyond 2030. Despite progress, significant barriers persist. The lack of digital competencies among health workers remains a critical bottleneck, often leaving them behind in rapidly evolving digital ecosystems. Additionally, the proliferation of digital technologies has led to fragmented systems, with regulatory frameworks struggling to keep pace.  

    To address these challenges, WHO launched GIDH, a WHO Managed Network, to foster alignment of resources towards country-led and standards based digital health transformation. GIDH aims to strengthen resource alignment to match country needs with global support, foster knowledge exchange across regions and provide tools that support countries to steward their national digital health transformation and provide visibility into national progress (e.g. Digital Health Atlas (DHA), Global Digital Health Monitor (GDHM)).  

    Recognizing the pivotal role of youth in shaping digital health, the event highlighted tools from the Transformation Toolbox such as the forthcoming Global Digital Health Competency Framework, set for release at the UN General Assembly in September 2025. This framework will define essential digital health competencies for health workers, policymakers, planners and even citizens, acting as a reference guide for example training and continuous education to ensure consistency in digital health competencies around the world. Resources were also shared to the WHO Academy, which is expanding its digital health training programs, with free courses currently available in English, French, Portuguese. Participants were encouraged to engage with GIDH, either through application for institutional membership or nomination to its Steering Committee, ensuring youth perspectives influence the activities and priorities of GIDH. 

    Other opportunities to engage that were raised include the World Summit on the Information Society+ 20 High Level Event 7-11 July 2025, the 2nd Global GIDH Convening 14-18 July 2025 – virtual, and the 80th session of the UN General Assembly in September 2025.  

    Speakers and participants reinforced the need for collaboration, governance, and inclusive capacity-building. The insights from this Pre-WHA assembly will help inform IFMSA’s and WHO’s continued engagement —working towards ensuring that the implementation of digital health technologies is equitable, safe, and effective for all. 

    MIL OSI United Nations News –

  • MIL-OSI: OSS to Attend NVIDIA GTC Paris 2025

    Source: GlobeNewswire (MIL-OSI)

    ESCONDIDO, Calif., May 27, 2025 (GLOBE NEWSWIRE) — One Stop Systems, Inc. (OSS or the Company) (Nasdaq: OSS), a leading provider of rugged, enterprise-class compute solutions for AI, machine learning (ML), and sensor processing at the edge, and an NVIDIA TIER 2 OEM and a NPN Elite Partner, today announced its participation in the upcoming NVIDIA GTC Paris Conference. The event takes place at the Paris Expo Porte de Versailles in Paris, France, on June 11–12, 2025.

    “NVIDIA is a valued long-time partner,” stated OSS President and CEO, Mike Knowles. “GTC Paris provides a premier platform to showcase our rugged, enterprise-class compute solutions designed for large-scale, data center-class AI, autonomy, and sensor fusion applications in edge environments.”

    Visitors to NVIDIA GTC Paris can experience OSS’s specialized AI computing solutions at Booth E07. Representatives from Bressner, OSS’s European subsidiary, will also be present and exhibiting at the conference.

    NVIDIA GTC Paris, organized in partnership with VivaTech 2025, brings together developers, researchers, business leaders, and technical experts to explore real-world applications of AI and accelerated computing. The event features live demos and sessions on generative AI, industrial digitalization, robotics, large language models, and more.

    For product inquiries or to schedule a meeting, contact OSS sales engineers at sales@onestopsystems.com or call +1 (877) 438-2724.

    About One Stop Systems
    One Stop Systems, Inc. (Nasdaq: OSS) is a leader in AI enabled solutions for the demanding ‘edge’. OSS designs and manufactures Enterprise Class compute and storage products that enable rugged AI, sensor fusion and autonomous capabilities without compromise. These hardware and software platforms bring the latest data center performance to harsh and challenging applications, whether they are on land, sea or in the air.

    OSS products include ruggedized servers, compute accelerators, flash storage arrays, and storage acceleration software. These specialized compact products are used across multiple industries and applications, including autonomous trucking and farming, as well as aircraft, drones, ships and vehicles within the defense industry.

    OSS solutions address the entire AI workflow, from high-speed data acquisition to deep learning, training and large-scale inference, and have delivered many industry firsts for industrial OEM and government customers.

    As the fastest growing segment of the multi-billion-dollar edge computing market, AI enabled solutions require-and OSS delivers-the highest level of performance in the most challenging environments without compromise.

    OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com. You can also follow OSS on X, YouTube, and LinkedIn.

    Forward-Looking Statements
    One Stop Systems cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. Words such as, but not limited to, “anticipate,” “aim,” “believe,” “contemplate,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “suggest,” “strategy,” “target,” “will,” “would,” and similar expressions or phrases, or the negative of those expressions or phrases, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are based on the Company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by One Stop Systems or its partners that any of our plans or expectations will be achieved, including but not limited to the potential and/or the results of current or future programs, the future adoption of technologies or applications, or the potential benefit of attending NVIDIA GTC Paris. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in our latest Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Media Contacts:
    Robert Kalebaugh
    One Stop Systems, Inc.
    Tel (858) 518-6154
    Email contact

    Investor Relations:
    Andrew Berger
    Managing Director
    SM Berger & Company, Inc.
    Tel (216) 464-6400
    Email contact

    The MIL Network –

  • MIL-OSI Global: Christianity has long revered saints who would be called ‘transgender’ today

    Source: The Conversation – USA – By Sarah Barringer, Ph.D. Candidate in English, University of Iowa

    Several Republican-led states have restricted transgender rights: Iowa has signed a law removing civil rights protection for transgender people; Wyoming has prohibited state agencies from requiring the use of preferred pronouns; and Alabama recently passed a law that only two sexes would be recognized. Hundreds of bills have been introduced in other state legislatures to curtail trans rights.

    Earlier in the year, several White House executive orders pushed to deny trans identity. One of them, “Eradicating Anti-Christian Bias,” claimed that gender-affirming policies of the Biden administration were “anti-Christian.” It accused the Biden Equal Employment Opportunity Commission of forcing “Christians to affirm radical transgender ideology against their faith.”

    To be clear, not all Christians are anti-trans. And in my research of medieval history and literature, I found evidence of a long history in Christianity of what today could be called “transgender” saints. While such a term did not exist in medieval times, the idea of men living as women, or women living as men, was unquestionably present in the medieval period. Many scholars have suggested that using the modern term transgender creates valuable connections to understand the historical parallels.

    There are at least 34 documented stories of transgender saints’ lives from the early centuries of Christianity. Originally appearing in Latin or Greek, several stories of transgender saints made their way into vernacular languages.

    Transgender saints

    Of the 34 original saints, at least three gained widespread popularity in medieval Europe: St. Eugenia, St. Euphrosyne and St. Marinos. All three were born as women but cut their hair and put on men’s clothes to live as men and join monasteries.

    Eugenia, raised pagan, joined a monastery to learn more about Christianity and later became abbot. Euphrosyne joined a monastery to escape an unwanted suitor and spent the rest of his life there. Marinos, born Marina, decided to renounce womanhood and live with his father at the monastery as a man.

    These were well-read stories. Eugenia’s story appeared in two of the most popular manuscripts of their day – Ælfric’s “Lives of Saints” and “The Golden Legend.” Ælfric was an English abbot who translated Latin saints’ lives into Old English in the 10th century, making them widely available to a lay audience. “The Golden Legend” was written in Latin and compiled in the 13th century; it is part of more than a thousand manuscripts.

    Euphrosyne also appears in Ælfric’s saints’ lives, as well as in other texts in Latin, Middle English, and Old French. Marinos’ story is available in over a dozen manuscripts in at least 10 languages. For those who couldn’t read, Ælfric’s saints’ lives and other manuscripts were read aloud in churches during service on the saint’s day.

    Euphrosyne of Alexandria.
    Anonymous via Wikimedia Commons

    A small church in Paris built in the 10th century was dedicated to Marinos, and relics of his body were supposedly kept in Qannoubine monastery in Lebanon.

    This is all to say, a lot of people were talking about these saints.

    Holy transness

    In the medieval period, saints’ lives were less important as history and more important as morality tales. As a morality tale, the audience was not intended to replicate a saint’s life, but learn to emulate Christian values. Transitioning between male and female becomes a metaphor for transitioning from pagan to Christian, affluence to poverty, worldliness to spirituality. The Catholic Church opposed cross-dressing in laws, liturgical meetings and other writings. However, Christianity honored the holiness of these transgender saints.

    In a 2021 collection of essays about transgender and queer saints in the medieval period, scholars Alicia Spencer-Hall and Blake Gutt argue that medieval Christianity saw transness as holy.

    “Transness is not merely compatible with holiness; transness itself is holy,” they write. Transgender saints had to reject convention in order to live their own authentic lives, just as early Christians had to reject convention in order to live as Christians.

    Literature scholar Rhonda McDaniel explains that in 10th-century England, adopting the Christian values of shunning wealth, militarism and sex made it easier for people to go beyond strict ideas about male and female gender. Instead of defining gender by separate male and female values, all individuals could be defined by the same Christian values.

    Historically and even in contemporary times, gender is associated with specific values and roles, such as assuming that homemaking is for women, or that men are stronger. But adopting these Christian values allowed individuals to transcend such distinctions, especially when they entered monasteries and nunneries.

    According to McDaniel, even cisgender saints like St. Agnes, St. Sebastian and St. George exemplified these values, exhibiting how anyone in the audience could push against gender stereotypes without changing their bodies.

    Agnes’ love of God allowed her to give up the role of wife. When offered love and wealth by men, she rejected them in favor of Christianity. Sebastian and George were powerful Roman men who were expected, as men, to engage in violent militarism. However, both rejected their violent Roman masculinity in favor of Christian pacifism.

    A life worth emulating

    Although most saints’ lives were written primarily as morality tales, the story of Joseph of Schönau was told as both very real and worthy of emulation by the audience. His story is told as a historical account of a life that would be attainable for ordinary Christians.

    In the late 12th century, Joseph, born female, joined a Cistercian monastery in Schönau, Germany. During his deathbed confession, Joseph told his life story, including his pilgrimage to Jerusalem as a child and his difficult journey back to Europe after the death of his father. When he finally returned to his birthplace of Cologne, he entered a monastery as a man in gratitude to God for returning him home safely.

    Despite arguing that Joseph’s life was worth emulating, the first author of Joseph’s story, Engelhard of Langheim, had a complicated relationship with Joseph’s gender. He claimed Joseph was a woman, but regularly used masculine pronouns to describe him.

    Marinos the monk.
    Richard de Montbaston via Wikimedia Commons

    Even though Eugenia, Euphrosyne and Marinos’ stories are told as morality tales, their authors had similarly complicated relationships with their gender. In the case of Eugenia, in one manuscript, the author refers to her with entirely female pronouns, but in another, the scribe slips into male pronouns.

    Marinos and Euphrosyne were also frequently referred to as male. The fact that the authors referred to these characters as male suggests that their transition to masculinity was not only a metaphor, but in some ways just as real as Joseph’s.

    Based on these stories, I argue that Christianity has a transgender history to pull from and many opportunities to embrace transness as an essential part of its values.

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

    – ref. Christianity has long revered saints who would be called ‘transgender’ today – https://theconversation.com/christianity-has-long-revered-saints-who-would-be-called-transgender-today-254769

    MIL OSI – Global Reports –

  • MIL-OSI Economics: H

    Source: ASEAN

    The ASEAN Secretariat is honoured to welcome H.E. Emmanuel Macron, President of the French Republic, on the occasion of his visit to the ASEAN Headquarters/ ASEAN Secretariat, on 28 May 2025.
     
    This visit marks a significant milestone in the growing partnership between ASEAN and France. In 2020, France was officially conferred the status of Development Partner of ASEAN, underscoring its commitment to deepening cooperation with the region.
    The post H.E. Emmanuel Macron, President of French Republic to visit ASEAN Headquarters/ASEAN Secretariat appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI USA: UConn Has Record-Breaking Cohort for Gilman Scholars

    Source: US State of Connecticut

    A record-breaking 31 UConn students have been awarded a Gilman Scholarship in the latest cohort of the prestigious academic award. The award is congressionally funded through the Bureau of Education and Cultural Affairs at the State Department.

    The funding supports expanding student participation in study abroad programs and encourages travel to diverse locations around the globe, along with intensive language study and internship experiences.

    The 31 UConn students, who will study in 14 different countries, will receive a total of nearly $94,000 in scholarship funds through the Gilman program. A total of 40 UConn students have earned Gilman awards in the last two cohorts, this one and October 2024, for a total of more than $121,500 in scholarship funding.

    Students applying for Gilman Scholarships work with advisors in UConn’s Office of National Scholarships & Fellowships (ONSF) and Experiential Global Learning (EGL). Rachel Gleicher, an advisor in EGL, and Michael Cunningham, assistant director of ONSF and UConn’s Fulbright program advisor, are UConn’s two Gilman certifying advisors.

    “We are very excited that the Gilman program has selected so many UConn students this cycle,” says Cunningham. “It’s a testament to the quality of our students and to the hard work that they put into their applications.”

    Upon their return from studying abroad, each Gilman Scholar is required to complete a service project in their campus or home community with the goal of sharing the value of participation in study abroad and promoting the scholarship to prospective students. Applications are reviewed with consideration for the proposed follow-up service project.

    “We are so proud of these students for staying determined and focused on their study abroad goals,” says Gleicher. “Amid uncertain times, with federal funding freezes and broader uncertainty, they remained committed to their aspirations. Now more than ever, it is crucial to ensure students are aware of the funding opportunities available to them.”

    Eligibility for the Gilman Scholarship requires undergraduate students to be Pell Grant-eligible United States citizens who plan to study abroad for academic credit through a program approved by their home institution. Supporting students with high financial need provides access to students who are historically underrepresented in study abroad, including first-generation college students, STEM majors, ethnic and racial minority students, students with disabilities, LGBTQ+ students, and others who experience barriers to participation.

    Students from underrepresented areas of the U.S. are also considered during the application process and this year there are recipients from all 50 states.

    The following UConn students were selected as Gilman Scholars in this cycle, and they are listed with the location of where they will study as part of the program:

    Carina Adams-Szabo ’27 (CLAS), a psychology and political science major from Greenwich, who will be studying neuroscience this summer in Salamanca, Spain.

    Ashley Barragan ’27 (NUR), a nursing major who will be studying at the University of Dublin Summer Applied Research for Nursing Practice in Dublin, Ireland.

    Rhys Brauer ’27 (CLAS), a psychological sciences major, who will be studying neuroscience this summer in Salamanca.

    Brooke Catellier ’26 (CAHNR), an allied health major, who will be studying the Mediterranean diet and Tuscan cuisine in Florence, Italy, this summer.

    Kylene Chino ’26 (CLAS), a human rights and political science major, who will be studying in the fall at the Pusan National University in Shanghai, China.

    Jaiyliah Cochran ’25 (CLAS), a microbiology major, who will be studying field ecology this summer in Limpopo Province, South Africa.

    Mia Dansby ’26 (BUS), a management major, who will be studying this summer at ISI in Florence.

    Andrea D’Oleo ’27 (NUR), a nursing major from East Hartford, who will be studying in the Dublin Summer Applied Research Program for Nursing Practice in Ireland.

    Danyelix Echevarria Figueroa ’28 (ACES), a pre-teaching major from New Britain, who will study next spring at the University of Grenda in Grenda, Spain.

    Dahiana Fernandez-Ramirez ’26 (CLAS), a psychological sciences major, who will be studying this fall at ISI Florence.

    Adiriana Garcia Vazquez ’25 (CLAS), a cognitive science major from Bridgeport, who will be studying this fall at the Interdisciplinary Ethnography Field School in Mauritius.

    Hannah Ginste ’26 (CLAS), a communications major, who will be doing a summer internship in London.

    Jessica Glowacki ’25 (CLAS), a biological sciences major who will be studying field ecology this summer in Limpopo Province, South Africa.

    Emma Hazard ’27 (CAHNR), a diagnostic genetic sciences major, who will be studying the Mediterranean diet and Tuscan cuisine in Florence this summer.

    Danecia Henry ’28 (BUS), a management major from New Haven, will be studying in the summer at Camino de Santiago in Spain.

    Ty’Laisha Huff ’27 (NUR), a nursing major from Hartford, will be studying at the Dublin Summer Applied Research Program for Nursing Practice in Ireland.

    Layan Jahaf ’28 (CLAS), a political science and Arabic and Islam civics major, who will be studying this fall in London.

    Dee Jerome ’26 (CAHNR), an allied health sciences major from Bridgeport, who will be studying this summer in Accra, Ghana.

    Evelyn Pazan ’27 (CLAS), a finance and German major, who will be studying during the 2025-26 academic year at the University of Mannheim in Germany.

    Danielle Phillips ’27 (CLAS), an individualized major in industrial and labor relations from Bridgeport, who will be studying this summer at the Intercultural Leadership Program in Strasbourg, France.

    Jocelyn Ramirez ’26 (BUS), a management major from New Haven, who will be studying this summer at ISI.

    Jamie Ross ’27 (CLAS), a physiology and neurobiology major, who will be studying next winter in Barcelona, Spain.

    Ellie Sanders ’27 (CAHNR), a nutritional sciences major from West Cornwall, who will be studying the Mediterranean diet and Tuscan cuisine in Florence this summer.

    Fabio Silveira ’26 (CLAS), a pathobiology major, who will be studying neuroscience this summer in Salamanca, Spain.

    Amber Szymanski ’26 (CLAS), a political science and human rights major, who will be studying this fall at the Pusan National University in Busan, South Korea.

    Angel Uchupailla ’26 (CAHNR), an allied health major from Stamford, who will be studying this winter in Rome.

    Lyric Vargas ’27 (CLAS), a political science and psychological science major, who will be studying this fall at the University of Lisbon in Portugal.

    Erica Wong ’26 (CLAS), a political science and urban and community studies major, who will be studying this fall at Fudan University in Shanghai, China.

    Morgan Xu ’26 (ENG), a materials science and engineering major from Chesire, who will be studying this fall at the National University of Singapore.

    Ada Yeung ’27 (CLAS), an individualized major, who will be studying next spring at Fudan University.

    Maggie Zheng ’27 (BUS), an accounting major, who will be studying next spring at Fudan University.

    MIL OSI USA News –

  • MIL-OSI Africa: APO Group Reveals its Role as Architect Behind Catholic Church in Africa’s Groundbreaking Communications Volunteer Programme

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

    APO Group Reveals its Role as Architect Behind Catholic Church in Africa’s Groundbreaking Communications Volunteer Programme The volunteer task force includes African PR Professionals currently working in major corporations and international NGOs ACCRA, Ghana, May 27, 2025/APO Group/ — APO Group (www.APO-opa.com), a leading award-winning pan-African public relations and communications consultancy, has strategically unveiled a volunteer communications programme comprising experienced communication professionals to support the Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) (www.SECAM.org), the governing body of the Roman Catholic Church in Africa. This groundbreaking initiative, developed and launched by APO Group aims to enhance the Roman Catholic Churches ability to communicate effectively and engage with communities across the African continent. The Catholic Church operates 82,235 Catholic Schools in Africa, educating 30,629,476 pupils. Its extensive network of care includes 13,880 facilities such as hospitals, clinics, dispensaries, leprosy centres, homes for the elderly and chronically ill, centres for disabled people, orphanages, kindergartens, and marriage counselling centres. APO Group and SECAM, the governing body of the Roman Catholic Church in Africa, first entered into their partnership in May 2022 with the shared goal of enhancing media and public relations support for the Catholic Church in Africa. Not only did APO Group conceive the volunteer programme but it also assembled a team of elite, well-experienced African communications professionals. The professionalization of SECAM’s communications capabilities extends beyond standard capacity-building. This initiative includes the development and delivery of a strategic communications framework that aligns with SECAM’s core mission and long-term objectives. The effort also builds upon APO Group’s previous collaborations with the Church, which include the creation and roll-out of a comprehensive communications curriculum and tailored training programme for Catholic institutions across Africa. The volunteer communications team will focus on key priorities, such as:

    • Crafting and executing a long-term communications strategy for SECAM to strengthen the voice of the Roman Catholic Church and increase awareness of its work across Africa.
    • Enhancing media relations to amplify the Church’s presence.
    • Designing effective visibility tools to connect with diverse stakeholders across Africa and beyond.

    Several talented professionals have already joined the SECAM Communications Volunteer Programme, bringing a wealth of expertise and a shared commitment to advancing the Church’s mission across Africa. Among them are Catherine Njoroge (https://apo-opa.co/3HapeKg), Head of Marketing and Strategy, who plays a role in shaping long-term plans to strengthen the Church’s visibility; Nyarai Chapingidza (https://apo-opa.co/4myd1PT), Digital MarComm Manager, who drives efforts to boost SECAM’s online presence; Lucy Kimani (https://apo-opa.co/4mxTKhp), Director of Communications and Advocacy, who steers impactful storytelling and advocacy campaigns; and Eunice Chege (https://apo-opa.co/4dw97mi), Communications Advisor, who contributes her extensive experience in developing and implementing communication strategies. Additionally, professionals joining in the business support functions include Majina Mwasezi (https://apo-opa.co/45pvSq3), Project Coordinator; Pauline Lugalia (https://apo-opa.co/4mAchd2), Executive Assistant to the Head of the Catholic Church in Africa; and Anne Nasumba (https://apo-opa.co/3ZBRqMp), Marketing and Communications Coordinator. Rose Thuo (https://apo-opa.co/4dDCMu0), who joined the programme as Chief of Marketing and Communications, said: “We are witnessing a remarkable convergence of talent and purpose. Each volunteer brings something unique to the table, and together, we are building a communications foundation that will serve the African Catholic Church for years to come.” There is an urgent and immediate need for candidates with HR and recruitment, as well as Graphic Design and website management experience to join the Roman Catholic Church in Africa’s volunteer programme. Individuals with this expertise are encouraged to apply and support the Church’s mission by strengthening its operational capacity across the continent. Interested volunteers are encouraged to apply through the official link: https://apo-opa.co/4dTxLxL. “This pro bono initiative reflects APO Group’s commitment to supporting impactful organisations across Africa. Many high-impact organisations (including NGOs) in Africa face financial barriers to establishing strong communication systems. This should never impede their ability to be seen and heard,” said Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com), Founder and Chairman of APO Group. “Through initiatives like this volunteer programme, we strive to bridge that gap—delivering professional support to elevate their messaging and outreach at the highest possible level.” “Africa is now the future of the Roman Catholic Church,” said Cardinal Fridolin Ambongo, the President of SECAM. “As our communities continue to grow, it becomes ever more important to amplify our voice and share our mission with the world. “We are grateful to APO Group for their support and expertise in making this vision a reality. Their role in designing and implementing this initiative has been invaluable. APO Group’s dedication to empowering impactful organisations aligns perfectly with our mission, and their contribution will undoubtedly leave a legacy in the Church’s journey toward greater visibility and engagement worldwide.” As part of its ongoing partnership with the Roman Catholic Church in Africa, APO Group has delivered a comprehensive range of support initiatives, including complimentary pan-African press release distribution and media monitoring, extensive online and in-person media training for over 22 communication professionals across the continent, and the provision of Zoom licences to Episcopal and Regional Episcopal Conferences. APO Group Founder and Chairman has personally led training sessions and held strategic meetings with Church dignitaries in several African countries to assess further areas of support. Furthermore, a volunteer programme launched in 2024 is now active, enhancing operational assistance for the Church throughout Africa. According to recent data from the Vatican, there are 1.39 billion Catholics worldwide, representing around 18% of the world’s population. Africa’s 236 million Catholics already make up about 20% of the global Catholic population, but they are also the fastest-growing region in the world. By 2050, the World Christian Database estimates that African Catholics will make up 32% of the global Catholic population. According to the United Nations’ 2022 State of the World’s Volunteerism Report, there are an estimated 862.4 million volunteers globally. Engaging in volunteerism offers individuals a unique opportunity to gain practical, hands-on experience, enhance their professional profiles, and develop valuable skills through impactful service. This is a joint press release from APO Group and the Symposium of Episcopal Conferences of Africa and Madagascar (SECAM). Distributed by APO Group on behalf of APO Group. Media contact: marie@apo-opa.com About APO Group: Founded in 2007, APO Group (www.APO-opa.com) is the leading award-winning pan-African communications consultancy and press release distribution service. Renowned for our deep-rooted African expertise and expansive global perspective, we specialise in elevating the reputation and brand equity of private and public organisations across Africa. As a trusted partner, our mission is to harness the power of media, crafting bespoke strategies that drive tangible, measurable impact both on the continent and globally. Our commitment to excellence and innovation has been recognised with multiple prestigious awards, including a Provoke Media Global SABRE Award and multiple Provoke Media Africa SABRE Awards. In 2023, we were named the Leading Public Relations Firm Africa and the Leading Pan-African Communications Consultancy Africa in the World Business Outlook Awards, and the Best Public Relations and Media Consultancy of the Year South Africa in 2024 in the same awards. In 2025, Brands Review Magazine acknowledged us as the Leading Communications Consultancy in Africa for the second consecutive year. They also named us the Best PR Agency and the Leading Press Release Distribution Platform in Africa in 2024. Additionally, in 2025, the Davos Communications Awards 2025 awarded us the Gold Award for Best PR Campaign and the Bronze Award for Special Event. APO Group’s esteemed clientele, which includes global giants such as Canon, Nestlé, Western Union, the UNDP, Network International, African Energy Chamber, Mercy Ships, Marriott, Africa’s Business Heroes, and Liquid Intelligent Technologies, reflects our unparalleled ability to navigate the complex African media landscape. With a multicultural team across Africa, we offer unmatched, truly pan-African insights, expertise, and reach across the continent. APO Group is dedicated to reshaping narratives about Africa, challenging stereotypes, and bringing inspiring African stories to global audiences, with our expertise in developing and supporting public relations campaigns worldwide uniquely positioning us to amplify brand messaging, enhance reputations, and connect effectively with target audiences. About the Symposium of Episcopal Conferences of Africa and Madagascar (SECAM): The Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) (www.SECAM.org) was born out of the decision of the African Bishops during the Second Vatican Council (1962-1965) to establish a forum in which they could speak with one voice on matters pertaining to the Church in Africa. The establishment of SECAM is therefore the result of the Bishops’ resolve to build a continental structure in order to bring forth the African vision to the whole Church. Seeing the importance of such an Association for Africa, the Congregation for the Evangelisation of the Peoples invited the Presidents of the Regional Episcopal Conferences for consultations in 1968. Consequently, the first visit of a Pope to Africa, in modern times, was seen as a very opportune occasion for the launch of the Symposium of Episcopal Conferences of Africa and Madagascar. This was therefore done during the visit of His Holiness Pope Paul VI in Kampala (Uganda) in July, 1969. Thereafter, it was agreed to establish the Headquarters / Secretariat of SECAM in Accra, Ghana. There are three official languages of SECAM, namely, English, French and Portuguese. SECAM functions through eight regional conferences, each made up of a cluster of national episcopal conferences.

    Text copied to clipboard.

    MIL OSI Africa –

  • MIL-OSI: The Eclipse Foundation and the Adoptium Working Group Announce the Latest Eclipse Temurin Open Source Java SE Runtime

    Source: GlobeNewswire (MIL-OSI)

    BRUSSELS, May 27, 2025 (GLOBE NEWSWIRE) — The Eclipse Foundation, a leading open source foundation, in collaboration with the Adoptium Working Group, today announced the latest release of Eclipse Temurin’s Java SE runtime. As organisations around the world reevaluate their approach to Java, given recent changes in licensing and support costs, Eclipse Temurin continues to see incredible growth, having just surpassed 600 million downloads, rapidly approaching double the 380 million recorded at this time last year. This release improves stability, security, and platform coverage, including updates to Windows AWT behavior, Docker image cleanup, and expanded support for AIX ppc64 systems. These updates reinforce Temurin’s focus on platform relevance, modernisation, and enterprise-grade stability.

    “Eclipse Temurin’s incredible growth reflects a clear shift in how enterprises are managing their Java enterprise application infrastructure. Organisations are seeking secure, high-quality, open source, and vendor-neutral alternatives, and Temurin delivers just that,” said Mike Milinkovich, executive director of the Eclipse Foundation. “With this latest release, we’re continuing to deliver the quality and assurance organisations expect from commercial offerings, while also introducing new ways for the community to support and sustain this momentum.”

    The latest Eclipse Temurin release (8u452, 11.0.27, 17.0.15, 21.0.7, 24.0.1) includes:

    • Reverted AWT headless detection on Windows to avoid regressions.
    • Removed outdated Docker images for Windows ServerCore & NanoCore (1809).
    • Added AIX ppc64 support for JDK 24, improving enterprise platform reach.
    • Delayed Windows aarch64 build for JDK 24 due to unresolved test issues.

    In addition to the latest release, the Adoptium Working Group is also introducing two related initiatives to educate enterprises and ensure Eclipse Temurin’s continued growth remains sustainable. First, the Working Group released a new ROI calculator that helps organisations quantify the financial impact of switching to open source Java, with enterprises reporting average annual savings of over $1.6 million after migrating from paid Java SE options to open source solutions like Eclipse Temurin. The Working Group also launched the Temurin Sustainer Program, which encourages reinvestment in the technology infrastructure that powers mission-critical Java workloads.

    The Eclipse Temurin Sustainer Program invites enterprises benefiting from Temurin to contribute a portion of their savings back into the project. Contributions are not required, and supporters can choose from several flexible funding tiers based on their estimated savings and scale of usage. These funds support faster releases, security maintenance, and expanded test infrastructure. The Temurin ROI calculator, available here, provides personalised estimates of Java support cost savings for organisations of any size.

    The Temurin Sustainer Program is not just about cost efficiency but also about supporting one of the most critical elements of an enterprise’s technology stack. For enterprises relying on open source solutions like Eclipse Temurin, this program enables them to optimise their investment in Java and contribute to the broader innovation driving this ecosystem forward.

    The Eclipse AQAvit project is a prime example of how the Temurin Sustainer Program will continue to drive innovation, enabling smarter automation, better test coverage, and faster delivery across Java SE runtimes. Eclipse AQAvit™ is the quality and runtime branding evaluation project for Java SE runtimes and associated technology. During a release, it takes a functionally complete Java runtime and ensures that all the additional qualities are present that make it suitable for production use. Interested parties can learn about new and upcoming features here.

    About the Adoptium Working Group
    The Adoptium Working Group promotes and supports secure, high-quality, TCK-certified runtimes and associated technologies, backed by 84 dedicated contributors and 11 member companies, including Java ecosystem leaders and enterprise users. The Strategic Members of the Adoptium Working Group include Alibaba Cloud, Azul Systems, Google, Microsoft, Red Hat, and Rivos. The Adoptium Marketplace extends this leadership role and gives even more organisations a means of distributing their binaries.

    If your organisation is interested in participating in the Adoptium Working Group, you can view the Charter and Participation Agreement or email us at membership@eclipse.org. Companies can also participate as sponsors. Both membership and sponsorship help assure the sustainability of the Adoptium Working Group and certified open source runtimes for the developer community.

    About the Eclipse Foundation
    The Eclipse Foundation provides our global community of individuals and organisations with a business-friendly environment for open source software collaboration and innovation. We host the Eclipse IDE, Adoptium, Software Defined Vehicle, Jakarta EE, and over 420 open source projects, including runtimes, tools, specifications, and frameworks for cloud and edge applications, IoT, AI, automotive, systems engineering, open processor designs, and many others. Headquartered in Brussels, Belgium, the Eclipse Foundation is an international non-profit association supported by over 300 members. To learn more, follow us on social media @EclipseFdn, LinkedIn, or visit eclipse.org.
    Third-party trademarks mentioned are the property of their respective owners.

    Media contacts:
    Schwartz Public Relations (Germany)
    Gloria Huppert/Marita Bäumer
    Sendlinger Straße 42A
    80331 Munich
    EclipseFoundation@schwartzpr.de
    +49 (89) 211 871 -70/ -62

    514 Media Ltd (France, Italy, Spain)
    Benoit Simoneau
    benoit@514-media.com
    M: +44 (0) 7891 920 370

    Nichols Communications (Global Press Contact)
    Jay Nichols
    jay@nicholscomm.com
    +1 408-772-1551

    The MIL Network –

  • MIL-OSI: IBFD Appoints Three New Members to Board of Trustees

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, May 27, 2025 (GLOBE NEWSWIRE) — The International Bureau of Fiscal Documentation (IBFD) is pleased to announce the appointment of three distinguished experts to its Board of Trustees (BOT), strengthening its position as the “Home of International Taxation”.

    Effective 17 May 2025, Juliane Kokott, Alexia Scott and Paolo Valerio Barbantini have joined the IBFD BOT, bringing a wealth of expertise in international taxation, law and policy. Their diverse backgrounds and esteemed careers will enhance IBFD’s mission of providing independent, high-quality research, analysis and data in the field of international taxation.

    Juliane Kokott

    Juliane Kokott is Advocate General at the Court of Justice of the European Union since 2003. With a distinguished career in European and international law, she is a respected authority in tax regulation and compliance. Ms Kokott has published numerous scholarly articles and books on tax law and has been a keynote speaker at many international conferences. Her deep legal expertise and insights into the evolving landscape of tax law will provide valuable guidance to IBFD’s initiatives.

    Alexia Scott

    Alexia Scott is the Global Head of Tax at L’Oréal, the French cosmetics group, since 2013. She is a senior international tax executive with over 30 years of leadership in tax strategy, planning and compliance across globally recognized groups in different sectors (beauty, transport, automotive and civil work).

    Ms Scott is a specialist in cross-border taxation and policy, dedicated to advancing sustainable fiscal strategies and promoting transparency. She has worked with various governments and international organizations to develop ESG-focused tax initiatives. IBFD will greatly benefit from her leadership in international corporate taxation.

    Paolo Valerio Barbantini

    Paolo Valerio Barbantini is Head of Tax of Fincantieri Group, a leading Italian multinational in shipbuilding, as from March 2024. Between 2018 and February 2024, he served the Italian Revenue Agency (Agenzia delle entrate) as Deputy Director General. From 2015 until January 2018, Mr Barbantini worked at the OECD Centre for Tax Policy and Administration as coordinator of BEPS and developing countries, then as responsible for their engagement and launch of the Inclusive Framework on BEPS. Mr Barbantini’s extensive experience in tax administration and tax policy development, as well as in international cooperation, will be invaluable to IBFD’s ongoing efforts in fostering innovative solutions for fiscal challenges.

    “We are honoured to welcome these prominent members of our community to our Board of Trustees,” said IBFD CEO Jan Maarten Slagter. “Their expertise and leadership will be instrumental as IBFD continues to provide valuable and trusted insights and help to shape the future of international taxation.”

    IBFD’s Board of Trustees oversees the overall management of the  organization. It consists of highly experienced tax professionals, (former) government officials and professionals with relevant non-tax backgrounds from all corners of the world.

    For more information about IBFD and its initiatives, visit the IBFD website.

    About IBFD

    IBFD is a leading independent foundation specializing in international tax research, education and knowledge dissemination. With a global network of experts and institutions, IBFD provides unparalleled resources in cross-border taxation, policy and compliance.

    Attachment

    The MIL Network –

  • MIL-OSI Europe: OSCE launches Regional Task Force on Education for Just and Inclusive Energy Transition in Central Asia

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: OSCE launches Regional Task Force on Education for Just and Inclusive Energy Transition in Central Asia

    As the renewable energy sector in Central Asia grows, so does the need for a skilled and inclusive workforce to support it. In response, the OSCE and the Regional Environmental Centre for Central Asia (CAREC) officially launched the OSCE Regional Task Force on Education for Just and Inclusive Energy Transition (RTEET) in Central Asia with a kick-off meeting in Almaty, Kazakhstan, on 22 and 23 May.
    The RTEET initiative brings together key stakeholders from across Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, including representatives from ministries of energy and education, universities, technical colleges, private sector actors and development partners. Its main goals are to develop pilot curricula in renewable energy and foster long-term collaboration between the education and energy sectors.
    “Education plays a critical role in accelerating the energy transition — but it must be inclusive and adaptable” said Giulia Manconi, Senior Energy Security Adviser at the OSCE. “The OSCE is committed to supporting countries in building the human capital needed for a green and just future. This includes helping to align education systems with evolving energy demands, and empowering women and young professionals in the renewable energy sector”,
    At the two-day meeting, government officials, academic leaders, energy experts, and international partners discussed how renewable energy education can be better aligned with labor market needs, while advancing gender equality and inclusivity within the energy transition.
    Participants also reviewed the preliminary findings of a regional needs assessment conducted by the OSCE, which identified key skill gaps, institutional challenges, and priorities for curriculum development across the five Central Asian countries. The event also included site visits to the scientific laboratories of Kazakh-British Technical University and Satbayev University, where cutting-edge energy technologies were showcased.
    The RTEET initiative will run from March 2025 to May 2026. Major milestones include the development of a regional renewable energy course, pilot implementation in selected institutions, and policy consultations to help mainstream renewable energy education throughout the region.
    The initiative is part of the OSCE extrabudgetary project “Promoting Women’s Economic Empowerment in the Energy Sector in Central Asia”, funded by Austria, France, Germany, Italy, Norway and Poland.
    Further resources, materials, and updates about RTEET will be posted here.

    MIL OSI Europe News –

  • MIL-OSI Russia: The training of forensic experts and the production of forensic examinations were discussed at SPbGASU

    Translation. Region: Russian Federal

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Dmitry Ivanov (behind the podium), Andrey Kokin, Oksana Dyakonova and Petr Kozin

    The National (All-Russian) scientific and practical conference “Improving the training of forensic experts and the production of forensic examinations in modern conditions” was held at SPbGASU. Current issues of professional training of forensic experts, modern technical and scientific-methodological support for the production of forensic examinations, as well as issues of legal, informational, financial and organizational support for forensic activities were discussed at a plenary session, two sections and at the podium of young scientists. In total, about 90 specialists and students from different regions of the country spoke.

    Opening the plenary session, Dmitry Ivanov, Chairman of the Organizing and Scientific Committees of the conference, Dean of the Faculty of Forensic Expertise and Law in Construction and Transport at SPbGASU, noted that the scientific community and the industry need to gather at one site, exchange experiences, discuss current problems and consider their possible solutions. He read out an address from the Rector of SPbGASU Evgeny Rybnov, who emphasized the importance of the presence at the conference of representatives of both the professional community, leading scientists, and students, whose ideas and initiatives will contribute to expanding the potential of the conference and successfully solving its tasks. “The conference is intended to become an effective platform for constructive dialogue on issues, including improving the quality of education,” the address said.

    So that there is no subjective opinion

    In his speech, Professor of the Department of Weapons Science and Trace Science of the Educational and Scientific Complex of Forensic Examinations of the Moscow University of the Ministry of Internal Affairs of Russia named after V. Ya. Kikot, Chief State Forensic Expert of the Department of Trace and Ballistic Examinations of the Federal State Budgetary Institution “Russian Federal State Center of Forensic Examinations named after Professor A. R. Shlyakhov under the Ministry of Justice of Russia” Andrey Kokin emphasized the factors of subjectivity in forensic examination.

    “Prejudice, that is, a biased or negative attitude, personal opinion or assessment based on stereotypes rather than specific experience or knowledge, has its own reasons in forensic examination. Among them are providing the expert with case materials that are not necessary, violation of the sequence of methodological actions, subordination of forensic units to law enforcement agencies. At the same time, there are ways to minimize the influence of subjectivity on forensic examination. The first is to increase the transparency of all stages of a detailed study, without ignoring points that seem insignificant at first glance. The second involves analyzing the expert’s conclusion by specialists with experience in a specific examination. This analysis must comply with certain principles: the specialist must record the entire course of the study and document his comments in one form or another, for example, in diagrams, graphs, displaying the most important and critical points on the basis of which conclusions can be drawn. In general, the conclusion must be understandable to all participants in the proceedings,” explained Andrey Kokin.

    Professor of the Department of Legal Regulation of Urban Development and Transport at SPbGASU Ivan Ivanov recalled that, according to statistics, 334 people were convicted of false expert opinions under various articles in 2023, and 317 in 2024.

    “Forensic and investigative practice with enviable consistency identifies and examines cases of false expert opinions, prepared intentionally. The scientific community believes that the responsibility of experts for knowingly false opinions is clearly insufficient and needs to be improved. Foreign criminal legislation is much stricter. For example, in France, for a knowingly false expert opinion, they sentence to five years in prison with a fine of 500 thousand euros. We propose introducing into the legislation a punishment in the form of a ban on holding a position and engaging in expert activity for up to three years. I think that in this case, all current legislative measures will be strengthened,” concluded Ivan Ivanov.

    How to improve the quality of education

    Oksana Dyakonova, professor of the forensic examination department at the Moscow State Law University named after O. E. Kutafin, voiced proposals for improving the quality of education in the specialty “Forensic examination”.

    “Firstly, it is necessary to increase the number of hours for fundamental disciplines – forensic science and forensic expertology, while introducing a reasonable combination of lectures and practical classes in different forms: laboratory work, field practical classes at forensic organizations. Secondly, it is necessary to exclude from the educational program disciplines that are not aimed at developing the much-needed competence of a future forensic expert, but are generalized and duplicate the main legal disciplines in content. Thirdly, it is necessary to increase students’ interest in participating in research projects, including under the joint supervision of a university teacher and a practicing expert,” Oksana Dyakonova believes.

    She also proposed to expand the training of forensic experts in master’s programs and programs of additional professional education in certain types and kinds of forensic examinations for persons with basic legal education. The expert doubted that graduates of a bachelor’s degree with a specialized education far removed from expertise would be able to become highly professional experts after completing a master’s degree.

    Professor, senior expert of RMS-OTSENKA LLC Petr Kozin refuted this opinion with his own example: by basic education he is a civil engineer, and he underwent retraining in expert activity. His colleague is a graduate of LISI (now SPbGASU), also an engineer Dmitry Kuznetsov. Based on extensive experience in conducting forensic examinations, the company’s representatives developed a draft of methodological recommendations for forensic cost (appraisal) examination.

    “In our methodology, we defined the type and kind of cost and appraisal expertise, which has not yet been done at the legislative level. Accordingly, there are no methodological recommendations, although in practice, disputes about cost arise most often. However, if conducting a forensic examination is prescribed by law, then conducting an appraisal study is not. Due to the absence of any legal acts, during the research we rely on information from various reference books. In addition, for this reason, we cannot examine a number of objects. Our methodology streamlines this process and assumes a broader approach that the appraiser uses. At the same time, it does not contradict the current legislation,” explained Petr Kozin.

    He proposed a number of recommendations included in the methodology. Thus, in the case of a lack of information for a comparative approach, analogs of relations or properties should be used, including from the practice of past years.

    Neural networks and drones

    In addition to knowledge of forensic expertise itself, a modern specialist needs knowledge in the field of digital technologies, noted Oksana Dyakonova. She recalled that already now in many examinations objects are presented in digital form.

    Professor of the Department of Forensic Science at SPbGASU Valery Kharchenko spoke about the department’s scientific research, which helps to teach students advanced digital competencies, and also allows the use of high-tech research methods in engineering and technical forensic science. Based on experience, the professor explained that, for example, the use of neural networks speeds up the research period, increases their accuracy and accessibility so much that they can be carried out using a regular phone. Professor of the Department of Forensic Technology of the Educational and Scientific Complex of Forensic Science and Research at the Volgograd Academy of the Ministry of Internal Affairs of Russia Olga Dronova told how an unmanned technical vehicle became a tool for technical and forensic support and an object of expert research. The efficiency is similar: accuracy, accessibility, speed.

    Legal Gaps

    Irina Vishnevskaya, Director of the State Autonomous Healthcare Institution “Republican Bureau of Forensic Medical Examination of the Ministry of Health of the Republic of Tatarstan”, touched upon the problems of legal regulation of forensic medical activities and ways to solve them in Tatarstan.

    Vadim Epshteyn, Director of Development of the ChEU “City Institution of Forensic Expertise” (St. Petersburg), explained current issues of collecting funds for forensic examinations conducted in civil proceedings.

    “Today, one of the significant problems has become the colossal debts for completed examinations in civil proceedings. For many years, legislative norms were simply ignored, and the problem acquired unimaginable proportions: by the end of 2023, the debt for such examinations to the expert system of the Ministry of Justice reached about 750 million rubles. Obviously, the debt to experts of the non-governmental sector, taking into account their number, is even greater. In 2023, the Constitutional Court identified the existing problem and ordered the legislative authorities to develop recommendations for their elimination. In 2024, amendments were made to the Civil Procedure Code, where a number of norms that contributed to the emergence of these debts were eliminated. For example, now the code clearly states: payment for the examination is made based on the results of the meeting at which the examination was considered,” said Vadim Epshtein.

    Despite all the positive expectations, the problem is getting worse, the expert added. And it is due to the specifics of the work of the courts and the judicial department: in many cases, the parties who are responsible for paying for the examination initially deposit a minimum amount into the account. When it will be possible to receive the remaining amount is a question, since the courts take into account the very fact of depositing funds. There are only a few courts that are engaged in further adjustment of amounts, since the legislation does not oblige them to do so, and therefore the remaining payment is delayed for a long time.

    Tribune of young scientists

    The “Young Scientists’ Tribune” section attracted the largest number of speakers. The fifth-year student of SPbGASU Yulia Sedykh was interested in the conference due to the large amount of information on modern technologies of engineering and technical expertise, and current problems of the industry. The topic of her speech concerned the logical foundations of expert research from the point of view of algorithmization.

    “My work is dedicated to the creation and implementation of algorithms that work with the help of modern technologies, such as CAD – construction design systems, unmanned aerial vehicles with built-in machine vision, neural networks, into traditional methods of expert examination. I offer mechanisms and specific software products for writing modern methods of certain types of forensic examinations,” Yulia explained.

    Third-year student of SPbGASU Anastasia Savintseva in her research examined complex ethical issues – the lack of specificity regarding the essence of expert ethics and its proper consolidation. “I propose to solve this problem by expanding the list of principles presented in Federal Law No. 73, adding such as responsibility, integrity, organization, incorruptibility. Another option is to form such a general principle as the ethics of the activities of a forensic expert. It would allow us to unite all the moral principles that forensic experts should be guided by,” Anastasia said.

    Anastasia noted that the conference allowed her to broaden her horizons both in expertology and in related disciplines, to understand that each study is unique, and to pay attention to some aspects of expert activity that she had not thought about before.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Europe: France: Treefrog Therapeutics secures €30 million from EIB marking a significant milestone in the company’s journey to accelerate the field of cell therapy

    Source: European Investment Bank

    EIB

    • €30 million financing with mix of dilutive and venture debt financing
    • Funds to advance Parkinson’s disease cell therapy program to the clinic and further develop their internal pipeline of cell therapies
    • Deal benefits from guarantee under European Commission’s Invest EU program

    TreeFrog Therapeutics, a French biotech specializing in cell therapy has secured a €30 million financing from the European Investment Bank (EIB). The financing will support the advancement of their lead cell therapy program in Parkinson’s Disease to the clinic. Funds will also be used to reinforce their internal pipeline in other disease areas with large unmet needs.

    Regenerative medicine holds immense potential to revolutionize healthcare to treat or cure some of the world’s unmet needs in diseases of the major organs, such as the heart, lungs, pancreas and brain. Parkinson’s disease is the second most common neurodegenerative disorder and the fastest growing with more than 10 million people worldwide suffering from the disease. Prevalence doubled in the last 25 years and is expected to double again before 2050. Current solutions treat symptoms only. The cell therapy in development at TreeFrog has the potential to be a best-in-class treatment due to its unique 3D format microtissues, developed from induced pluripotent cells (iPSC). The program is on track to be ready for a first-in-human trial in 2027. 

    The €30 million financing will be available in 3 tranches of €10 million each, with TreeFrog benefiting from a new vehicle from the EIB, mixing dilutive financing, hence no principal repayment required for the initial two tranches and venture debt for the last tranche. The initial €10 million will be withdrawn during the second quarter of 2025. EIB’s investment aligns with the InvestEU objective of fostering research, development and innovation.

    Ambroise Fayolle, vice-president of the EIB, said: “Regenerative medicine is a field that has growing importance as life expectancy rises and some diseases are still untreated. This EIB is keen to support young, dynamic European and French companies that focus on research, development and product innovation. Support from InvestEU is testimony of a wider European interest in TreeFrog’s business model and new solutions for the health sector”.

    Jaime Arango, Chief Finance Officer, TreeFrog Therapeutics, said: “We are delighted to receive this support from EIB which bolsters our cash visibility trajectory and enables us to bring our Parkinson’s cell therapy to the clinic, while also reinforcing our internal pipeline of cell therapies in other disease areas.”

    TreeFrog’s success in attracting investment and partners to date is based on their proprietary technology platform, C-Stem . This platform addresses some of the major challenges by producing high quality cells, efficiently, at commercial scale. C-Stem combines microfluidics and stem cell biology to mimic the natural environment for cells. The cells are encapsulated in alginate capsules seeded with iPSCs. These capsules protect the cells, allowing them to do what they do naturally – self-organise and grow. The protected cells are nurtured and nourished, expand exponentially and can be turned into any type of cell in large-scale bioreactors without damage and stress. This results in 3D microtissues that have unique benefits in terms of quality and functionality and integrate well after transplant.

    Background information

    About EIB

    The European Investment Bank (EIB), whose shareholders are the Member States of the European Union (EU), is the EU’s long-term financing institution. Across eight major priorities, we support investments in climate action and the environment, digital transition and technological innovation, security and defense, cohesion, agriculture and the bioeconomy, social infrastructure, capital markets union, and a stronger Europe in a more peaceful and prosperous world. In 2024, the EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing in support of more than 900 projects in Europe and worldwide. In France, the EIB Group signed over a hundred operations in 2024 for a total amount of €12.6 billion. Nearly 60% of the EIB Group’s annual financing supports projects contributing to climate change mitigation and adaptation, as well as the creation of a healthier environment.

    About TreeFrog Therapeutics

    TreeFrog Therapeutics is a French-based regenerative medicine biotech set to unlock access to cell therapies for millions of patients. TreeFrog is unique in its approach to cell therapy development, bringing together biophysicists, cell biologists and bioproduction engineers to address the challenges of the industry – producing and differentiating cells of quality at unprecedented scale, cost-effectively. To succeed in their mission of Cell Therapy for all, TreeFrog operates a business model that includes its own therapeutic programs and partnerships with leading biotech and industry players. Since 2021, the company has raised $82 million to advance a pipeline of stem cell-based therapies in regenerative medicine.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Local content in the Clean Industrial Deal – E-002005/2025

    Source: European Parliament

    Question for written answer  E-002005/2025
    to the Commission
    Rule 144
    Oihane Agirregoitia Martínez (Renew)

    The European renewable energy industry is facing a structural crisis. While global manufacturing of clean tech components has grown rapidly, European manufacturers are steadily losing market share and competitiveness. Lower-cost imports from Asia and market barriers in the United States are accelerating the decline. Recent months have seen closures and lay-offs across the wind, solar and storage sectors, affecting at least France, Germany, Italy, Denmark, Austria, Spain and Sweden. Meanwhile, non-EU products – mainly from Asia – are increasingly dominating the European market.

    The industry welcomes the Clean Industrial Deal’s inclusion of local manufacturing as a strategic pillar. However, to be effective, measures must be sufficiently broad and impactful. Countries such as the United States, India and Brazil already apply 50-60 % local content requirements across much of the value chain.

    Therefore:

    • 1.What measures will ensure that EU content requirements are broad and effective across the full renewable energy supply chain?
    • 2.Will the Commission consider drawing on current international models, such as those implemented in the United States, India or Brazil?
    • 3.How will local content be defined and monitored to ensure the manufacturing of high-value components in the EU, guaranteeing a true ‘Made in Europe’ approach – not merely ‘Assembled in Europe’?

    Submitted: 20.5.2025

    Last updated: 27 May 2025

    MIL OSI Europe News –

  • India will not tolerate terrorism or nuclear intimidation: Sanjay Jha-led delegation in Singapore

    Source: Government of India

    Source: Government of India (4)

    An all-party parliamentary delegation led by Janata Dal (United) MP Sanjay Jha on Tuesday conveyed that India will give a fitting reply to any terrorist attack on its soil and will not tolerate any form of nuclear blackmail.

    During their meeting with Sim Ann, Singapore’s Senior Minister of State for Foreign Affairs and Home Affairs, the parliamentarians emphasized the importance of Operation Sindoor and reiterated India’s stand against Pakistan-sponsored cross-border terrorism.

    Condemning all acts of terrorism, Sim Ann extended Singapore’s support to India in its fight against terrorism. She affirmed that Singapore and India are close partners and will continue efforts to further strengthen bilateral cooperation, according to a statement from the Indian High Commission in Singapore.

    During the engagement, Jha briefed the Singaporean side on India’s stance regarding the events following the April 22 Pahalgam terror attack, the subsequent launch of Operation Sindoor, and the country’s “new normal” strategy in counter-terrorism.

    He underlined that the Indian delegation, comprising representatives from various political parties, reflects the nation’s united resolve against terrorism.

    “The delegation members conveyed that the terrorist attack in Pahalgam was an attempt to disrupt the trajectory of peace, development, and normalcy in the Union Territory of Jammu and Kashmir. The Government of India deemed it essential that the perpetrators and planners of the April 22 terror attack be brought to justice. In response to this heinous act, India launched Operation Sindoor, specifically targeting terrorist infrastructure. India’s response was measured, non-escalatory, proportionate, and responsible,” the Indian High Commission said.

    The delegation also sought Singapore’s support in combating terrorism at multilateral forums such as the United Nations and the Financial Action Task Force (FATF). As close partners, India and Singapore will continue to work together on regional and global issues, particularly on terrorism, the statement added.

    Later in the day, the Jha-led delegation met senior representatives from the Singaporean government, academia, media, and businesses, briefing them on developments since the Pahalgam attack.

    The delegates expressed appreciation for the presence of Singapore’s Senior Minister of State Janil Puthucheary and Members of Parliament Vikram Nair and Saktiandi Supaat, thanking them for their support in India’s fight against terrorism.

    “Our all-party parliamentary delegation held wide-ranging discussions with senior representatives from the Singaporean government, academia, media, and business sectors. We briefed interlocutors on developments following the Pahalgam terror attack, Operation Sindoor, and India’s resolute ‘new normal’ in combating terrorism. We thank Senior Minister of State Janil Puthucheary and MPs Vikram Nair and Saktiandi Supaat for their support in strengthening bilateral cooperation in the global fight against terrorism,” Jha said in a post on X.

    The delegation includes BJP MPs Aparajita Sarangi, Brij Lal, Hemang Joshi, and Pradan Baruah; Trinamool Congress MP Abhishek Banerjee; CPI(M) Rajya Sabha member John Barittas; senior Congress leader Salman Khurshid; and former Indian Ambassador to France Mohan Kumar.

    IANS

  • MIL-OSI: Golar LNG Limited Interim results for the period ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    Highlights and subsequent events

    • Golar LNG Limited (“Golar” or “the Company”) reports Q1 2025 net income attributable to Golar of $8 million, Adjusted EBITDA1 of $41 million and Total Golar Cash1 of $678 million.
    • Concluded the 20-year charter of FLNG Hilli for Southern Energy S.A. (“SESA”) in Argentina.
    • Signed definitive agreements for a 20-year charter for the MKII FLNG to SESA. Combined with the FLNG Hilli charter, the project will be for 5.95 mtpa of nameplate capacity – one of the world’s largest FLNG development projects.
    • FLNG Gimi in final stages of commissioning on the GTA field, Commercial Operations Date (“COD”) expected within Q2.
    • MKII FLNG conversion vessel Fuji LNG arrived at the shipyard for conversion works, conversion project on schedule for Q4 2027 delivery.
    • FLNG Hilli maintained market-leading operational track record and delivered its 132nd LNG cargo since contract start-up.
    • Sold minority shareholding in Avenir LNG Limited.
    • Completed exit from LNG shipping segment with sale of Golar Arctic.
    • Declared dividend of $0.25 per share for the quarter.
    • Progressed FLNG growth opportunities with commercial leads, shipyard availability and long lead equipment timing.

    FLNG Hilli: Maintained leading operational track record with 132 cargoes offloaded to date and over 9 million tons of LNG produced since operations commenced.

    Final Investment Decision (“FID”) for the 20-year redeployment of FLNG Hilli to Southern Energy in Argentina concluded (further details provided in the SESA charter agreements section). A dedicated team has progressed detailed work on Hilli’s re-deployment scope, vessel upgrade and transit to her new location.

    Following the conclusion of FLNG Hilli’s re-deployment contract, we will initiate discussions for debt optimization that reflects the strong earnings visibility for the FLNG unit.

    FLNG Gimi: In January 2025, the bp operated FPSO provided feedgas from the GTA field allowing for full commissioning to commence, triggering the final upward adjustment to the commissioning rate under the commercial reset agreed in August 2024. First LNG was achieved in February and in April 2025, FLNG Gimi completed the offload of its first full LNG cargo. This introduced Mauritania and Senegal as LNG exporters to the international gas market and triggered the final pre-COD milestone bonus payment to Golar under the terms of the commercial reset. COD, which remains on schedule for Q2 2025, triggers the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA backlog1 (Golar’s share) and recognition of contractual payments comprised of capital and operating elements in both the balance sheet and income statement.

    As of May 2025, Golar has invoiced $195.9 million of pre-COD fees under the commercial reset arrangements, with this amount currently recognized on the balance sheet.

    On March 20, 2025, a $1.2 billion debt facility to refinance FLNG Gimi was signed with a consortium of leading Chinese leasing companies. The contemplated sale and leaseback facility features a tenor of 12 years and a 17-year amortization profile. Upon closing and repayment of the existing debt facility, Gimi MS Corporation is expected to generate net proceeds of approximately $530 million. This amount includes the release of existing interest rate swaps. Golar stands to benefit from 70% of these proceeds, equivalent to approximately $371 million. The transaction remains subject to customary closing conditions and third party stakeholder approvals. Golar has also progressed a rating process to further evaluate debt optimization alternatives for the vessel during the quarter.

    MKII FLNG 3.5 MTPA conversion: Conversion work on the $2.2 billion MKII FLNG is proceeding to schedule. The conversion vessel Fuji LNG entered CIMC’s Yantai yard in February 2025 and in April the vessel was successfully separated into forward and aft sections. A mid-ship section housing the liquefaction unit will be inserted between and attached to the refurbished forward and aft sections later in the conversion process. Fabrication of the topsides for the mid-ship section is also underway. As of March 31, 2025, Golar has spent $0.7 billion on the MKII FLNG conversion, all of which is equity funded. The MKII FLNG is expected to be delivered in Q4 2027.

    With a definitive agreement that contemplates a 2H 2025 FID now secured, Golar will consider alternatives for asset level MKII FLNG financing.

    Southern Energy charter agreements: On May 2, 2025, Golar announced a FID for the 20-year charter of FLNG Hilli. The vessel will be chartered to SESA offshore Argentina. Golar and SESA also signed definitive agreements for a 20-year charter of the MKII FLNG. The MKII FLNG charter remains subject to FID and the same regulatory approvals as those granted to the FLNG Hilli project, expected within 2025.

    Key commercial terms for the respective 20-year charter agreements include:

    • FLNG Hilli (nameplate capacity of 2.45mtpa): Expected contract start-up in 2027, expected  Adjusted EBITDA1 to Golar of $285 million per year, plus a commodity linked tariff component of 25% of Free on Board (“FOB”) prices in excess of $8/MMBtu; and,
    • MKII FLNG (nameplate capacity of 3.5mtpa): Expected contract start-up in 2028, expected  Adjusted EBITDA1 to Golar of $400 million per year, plus a commodity linked tariff component of 25% of FOB prices in excess of $8/MMBtu.

    The two FLNG agreements are expected to add $13.7 billion in Adjusted EBITDA backlog1 to Golar over 20 years, before inflationary adjustments (30% of U.S. CPI from year 6) to the charter hire, and before the commodity linked tariff upside. Where achieved FOB prices exceed the $8/MMBtu reference price, Golar will receive 25% of the excess amount (this reference price is subject to the same 30% US CPI adjustment from year 6). The commodity linked element in the FLNG charter provides an upside of $70 million per year to Golar for every $ 1/MMBtu the achieved FOB price is higher than the USD 8/MMBtu reference price. The upside calculation is based on monthly achieved FOB prices.

    While the commodity linked tariff component is upside oriented, the Company has also agreed to a mechanism where the charter hire can be partially reduced for FOB prices below $7.5/MMBtu, down to a floor of $6/MMBtu. Under this mechanism, the maximum accumulated discount over the life of both contracts has a cap of $210 million, and any outstanding discounted charter hire amounts will be recovered through additional upside sharing if FOB prices return to levels above $7.5/MMBtu. Golar is not exposed to further downside in the commodity linked FLNG charter mechanism. The upside calculation is based on monthly achieved FOB prices, whilst the downside adjustment is based on annual average achieved FOB prices. The downside mechanism is based on annual average achieved FOB prices.

    SESA, a company formed to export Argentinian LNG, is owned by a consortium of leading Argentinian gas producers including Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%) and Golar (10%). The four gas producers have committed to supply their pro-rata share of natural gas to the FLNGs under Gas Sales Agreements at a fixed price per MMBtu. Golar’s 10% shareholding in SESA provides additional commodity exposure. The 10% equity stake equates to approximately $28 million in annual additional commodity exposure to Golar for every $1/MMBtu change in achieved FOB prices versus SESA’s cash break even.

    With the combination of the fixed charter hire with 30% of U.S. CPI inflation from year 6, operating expenses pass through, 25% commodity exposure in the FLNG tariff for FOB prices above $8/MMBtu and Golar’s 10% shareholding in SESA, Golar believes it has secured a highly attractive risk-reward in the SESA charters. For every $1 FOB price above $8/MMBtu, Golar’s total commodity upside is approximately $100 million, versus approximately $28 million in downside for every $1/MMBtu that realized FOB prices are below SESA’s cash break even.

    Located offshore in close proximity of each other in Rio Negro’s Gulf of San Matias, the FLNG’s will monetize gas from the Vaca Muerta formation, the world’s second largest shale gas resource, located onshore in Argentina’s Neuquen province. FLNG Hilli will initially utilize spare volumes from the existing pipeline network. SESA intends to facilitate the construction of a dedicated pipeline from Vaca Muerta to the Gulf of San Matias to supply gas to the FLNGs and the project expects to benefit from significant operational efficiencies and synergies from two FLNGs in the same area.

    The charters are also subject to strong legal and regulatory protections including:

    • both charter agreements are subject to English Law with dispute resolution pursuant to ICC arbitration in Paris, France;
    • hire and other payments under both contracts are fully paid in U.S. dollars;
    • SESA has obtained Argentina’s first ever 30-year non-interruptible LNG export license for FLNG Hilli, providing security of exports, necessary for the significant upstream and midstream investments, as well as securing offtake contracts; and
    • MKII FLNG is expected to obtain a similar term export license within 2025.

    FLNG Hilli has been approved for adherence to the Large Investments Incentive Scheme (“RIGI”), as a Long-Term Strategic Export project. The RIGI was implemented by the current administration of President Milei to incentivize large investments in Argentina. Under the RIGI, there are incentives and protections granted to the project company (SESA), with Golar benefiting as an international asset provider and investor, mostly notably:

    • guaranteed legal certainty and regulatory stability for the duration of the project, covering taxes, customs, duties, and foreign exchange controls;
    • any new national, provincial, or municipal taxes or restrictions would not apply to RIGI projects beyond those existing when the project was approved; and
    • freedom to repatriate profits, dividends, and capital including exemption from potential Central Bank restrictions on access to foreign exchange for repatriation purposes.

    If Argentina breaches the RIGI framework (e.g. by purporting to change the regime unilaterally), the beneficiary of the RIGI status can:

    • bring legal action against the National or Provincial Government (as applicable) under ICC arbitration, or elect to challenge the revocation through administrative channels; and
    • challenge the constitutionality of enacted law which breaches the RIGI protections.

    Business development: Detailed discussions for FLNG opportunities continue. With limited yard capacity for FLNG delivery before the 2030s, and with the current Golar fleet committed, we see firming demand for the remaining available 2020s deliveries. Progress is being made on FLNG projects ranging from MKI, MKII and MKIII FLNG developments. We target FLNG opportunities with competitive wellhead gas to secure attractive base tariff and commodity upside participation. We are also in commercial negotiations with potential charterers seeking equity participation in the FLNG to align project stakeholders.

    On the back of the recent commitments for the existing fleet and with ongoing detailed commercial discussions, we are working with shipyards and topside equipment providers to firm-up prices and schedules for potential ordering of additional unit(s) within 2025. Any growth initiatives are planned to be funded with recycled liquidity from debt optimization of the existing FLNG fleet on the back of their long term charters.

    Corporate/Other: Operating revenues and costs under corporate and other items are comprised of two FSRU operate and maintain agreements in respect of the LNG Croatia and Italis LNG together with the  Golar Arctic up to her point of sale in March 2025, for $24 million, and the Fuji LNG, up to the point she entered CIMC’s yard in February 2025 for FLNG conversion.

    In February 2025, Golar also closed the sale of its non-core 23.4% interest in Avenir LNG Limited, for $39 million.

    Shares and dividends: As of March 31, 2025, 104.7 million shares are issued and outstanding. Golar’s Board of Directors approved a total Q1 2025 dividend of $0.25 per share to be paid on or around June 10, 2025. The record date will be June 3, 2025.

    Financial Summary

    (in thousands of $) Q1 2025 Q1 2024 % Change Q4 2024 % Change
    Net income 12,939 66,495 (81)% 15,037 (14)%
    Net income attributable to Golar LNG Ltd 8,197 55,220 (85)% 4,494 82%
    Total operating revenues 62,502 64,959 (4)% 65,917 (5)%
    Adjusted EBITDA 1 40,936 63,587 (36)% 59,168 (31)%
    Golar’s share of Contractual Debt 1 1,494,615 1,209,407 24% 1,515,357 (1)%

    Financial Review 

    Business Performance:

      2025 2024
    (in thousands of $) Jan-Mar Oct-Dec Jan-Mar
    Net income        12,939        15,037        66,495
    Income taxes              179            (504)              138
    Net income before income taxes        13,118        14,533        66,633
    Depreciation and amortization        12,638        13,642        12,476
    Impairment of long-term assets                —        22,933                —
    Unrealized loss/(gain) on oil and gas derivative instruments        25,001        14,269        (2,148)
    Other non-operating loss                —          7,000                —
    Interest income        (8,699)        (9,866)      (10,026)
    Loss/(gain) on derivative instruments, net          6,795        (8,711)        (6,202)
    Other financial items, net          2,292          1,153          2,640
    Net (income)/loss from equity method investments      (10,209)          4,215              214
    Adjusted EBITDA 1        40,936        59,168        63,587
      2025 2024
      Jan-Mar Oct-Dec
    (in thousands of $) FLNG Corporate and other Total FLNG Corporate and other Total
    Total operating revenues        55,688          6,814        62,502        56,396          9,521        65,917
    Vessel operating expenses      (18,785)        (9,685)      (28,470)      (19,788)        (8,121)      (27,909)
    Voyage, charterhire & commission expenses                —                —                —                —           (446)           (446)
    Administrative expenses           (588)        (8,999)        (9,587)           (264)        (7,241)        (7,505)
    Project development expenses        (2,351)           (968)        (3,319)        (3,624)        (1,236)        (4,860)
    Realized gain on oil and gas derivative instruments (2)        21,213                —        21,213        33,502                —        33,502
    Other operating income                —        (1,403)        (1,403)             469                —             469
    Adjusted EBITDA 1        55,177      (14,241)        40,936        66,691        (7,523)        59,168

    (2) The line item “Realized and unrealized (loss)/gain on oil and gas derivative instruments” in the Unaudited Consolidated Statements of Operations relates to income from the Hilli Liquefaction Tolling Agreement (“LTA”) and the natural gas derivative which is split into: “Realized gain on oil and gas derivative instruments” and “Unrealized (loss)/gain on oil and gas derivative instruments”.

      2024
      Jan-Mar
    (in thousands of $) FLNG Corporate and other Total
    Total operating revenues               56,368                  8,591               64,959
    Vessel operating expenses              (18,784)                (7,078)              (25,862)
    Voyage, charterhire & commission expenses                       —                (1,770)                (1,770)
    Administrative expenses                   (471)                (6,604)                (7,075)
    Project development expenses/(income)                (1,085)                     273                   (812)
    Realized gain on oil and gas derivative instruments               34,147                       —               34,147
    Adjusted EBITDA 1               70,175                (6,588)               63,587

    Golar reports today Q1 2025 net income of $13 million, before non-controlling interests, inclusive of $32 million of non-cash items1, comprised of:

    • TTF and Brent oil unrealized mark-to-market (“MTM”) losses of $25 million; and
    • A $7 million MTM loss on interest rate swaps.

    The Brent oil linked component of FLNG Hilli’s fees generates additional annual cash of approximately $3.1 million for every dollar increase in Brent Crude prices between $60 per barrel and the contractual ceiling. Billing of this component is based on a three-month look-back at average Brent Crude prices. During Q1 2025, we recognized a total of $21 million of realized gains on FLNG Hilli’s oil and gas derivative instruments, comprised of a: 

    • $12 million realized gain on the Brent oil linked derivative instrument; and
    • $9 million realized gain in respect of fees for the TTF linked production.

    We also recognized $25 million of non-cash losses in relation to FLNG Hilli’s oil and gas derivative assets, with corresponding changes in the fair value in its constituent parts recognized on our unaudited consolidated statement of operations as follows:

    • $13 million loss on the Brent oil linked derivative asset; and
    • $12 million loss on the TTF linked natural gas derivative asset. 

    Balance Sheet and Liquidity:

    As of March 31, 2025, Total Golar Cash1 was $678 million, comprised of $522 million of cash and cash equivalents and $156 million of restricted cash. 

    Golar’s share of Contractual Debt1 as of  March 31, 2025 is $1,495 million. Deducting Total Golar Cash1 of $678 million from Golar’s share of Contractual Debt1 leaves a net debt position of $817 million. 

    Assets under development amounts to $2.5 billion, comprised of $1.8 billion in respect of FLNG Gimi and $0.7 billion in respect of the MKII FLNG. The carrying value of LNG carrier Fuji LNG, previously included under Vessels and equipment, net in Q4 2024 was transferred to Assets under development in Q1 2025.

    Non-GAAP measures

    In addition to disclosing financial results in accordance with U.S. generally accepted accounting principles (US GAAP), this earnings release and the associated investor presentation contains references to the non-GAAP financial measures which are included in the table below. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance.

    This report also contains certain forward-looking non-GAAP measures for which we are unable to provide a reconciliation to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside of our control, such as oil and gas prices and exchange rates, as such items may be significant. Non-GAAP measures in respect of future events which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied to Golar’s unaudited consolidated financial statements.

    These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures and financial results calculated in accordance with GAAP. Non-GAAP measures are not uniformly defined by all companies and may not be comparable with similarly titled measures and disclosures used by other companies. The reconciliations as at March 31, 2025 and for the three months ended March 31, 2025, from these results should be carefully evaluated.

    Non-GAAP measure Closest equivalent US GAAP measure Adjustments to reconcile to primary financial statements prepared under US GAAP Rationale for adjustments
    Performance measures
    Adjusted EBITDA Net income/(loss)  +/- Income taxes
    + Depreciation and amortization
    + Impairment of long-lived assets
    +/- Unrealized (gain)/loss on oil and gas derivative instruments
    +/- Other non-operating (income)/losses
    +/- Net financial (income)/expense
    +/- Net (income)/losses from equity method investments
    +/- Net loss/(income) from discontinued operations    		 Increases the comparability of total business performance from period to period and against the performance of other companies by excluding the results of our equity investments, removing the impact of unrealized movements on embedded derivatives, depreciation, impairment charge, financing costs, tax items and discontinued operations.
    Distributable Adjusted EBITDA Net income/(loss)  +/- Income taxes
    + Depreciation and amortization
    + Impairment of long-lived assets
    +/- Unrealized (gain)/loss on oil and gas derivative instruments
    +/- Other non-operating (income)/losses
    +/- Net financial (income)/expense
    +/- Net (income)/losses from equity method investments
    +/- Net loss/(income) from discontinued operations
    – Amortization of deferred commissioning period revenue
    – Amortization of Day 1 gains
    – Accrued overproduction revenue
    + Overproduction revenue received
    – Accrued underutilization adjustment    		 Increases the comparability of our operational FLNG Hilli from period to period and against the performance of other companies by removing the non-distributable income of FLNG Hilli, project development costs, the operating costs of the Gandria (prior to her disposal) and FLNG Gimi.
    Liquidity measures
    Contractual debt 1 Total debt (current and non-current), net of deferred finance charges  +/-Variable Interest Entity (“VIE”) consolidation adjustments
    +/-Deferred finance charges    		 During the year, we consolidate a lessor VIE for our Hilli sale and leaseback facility. This means that on consolidation, our contractual debt is eliminated and replaced with the lessor VIE debt.

    Contractual debt represents our debt obligations under our various financing arrangements before consolidating the lessor VIE.

    The measure enables investors and users of our financial statements to assess our liquidity, identify the split of our debt (current and non-current) based on our underlying contractual obligations and aid comparability with our competitors.
    Adjusted net debt Adjusted net debt based on
    GAAP measures:
    -Total debt (current and
    non-current), net of
    deferred finance
    charges
    – Cash and cash
    equivalents
    – Restricted cash and
    short-term deposits
    (current and non-current)
    – Other current assets (Receivable from TTF linked commodity swap derivatives)    		 Total debt (current and non-current), net of:
    +Deferred finance charges
    +Cash and cash equivalents
    +Restricted cash and short-term deposits (current and non-current)
    +/-VIE consolidation adjustments
    +Receivable from TTF linked commodity swap derivatives    		 The measure enables investors and users of our financial statements to assess our liquidity based on our underlying contractual obligations and aids comparability with our competitors.
    Total Golar Cash Golar cash based on GAAP measures:

    + Cash and cash equivalents

    + Restricted cash and short-term deposits (current and non-current)

    		 -VIE restricted cash and short-term deposits We consolidate a lessor VIE for our sale and leaseback facility. This means that on consolidation, we include restricted cash held by the lessor VIE.

    Total Golar Cash represents our cash and cash equivalents and restricted cash and short-term deposits (current and non-current) before consolidating the lessor VIE.

    Management believe that this measure enables investors and users of our financial statements to assess our liquidity and aids comparability with our competitors.

    (1) Please refer to reconciliation below for Golar’s share of contractual debt

    Adjusted EBITDA backlog (also referred to as “earnings backlog”): This is a non-GAAP financial measure and represents the share of contracted fee income for executed contracts or definitive agreements less forecasted operating expenses for these contracts/agreements. Adjusted EBITDA backlog should not be considered as an alternative to net income / (loss) or any other measure of our financial performance calculated in accordance with U.S. GAAP.

    Non-cash items: Non-cash items comprised of impairment of long-lived assets, release of prior year contract underutilization liability, MTM movements on our TTF and Brent oil linked derivatives, listed equity securities and interest rate swaps (“IRS”) which relate to the unrealized component of the gains/(losses) on oil and gas derivative instruments, unrealized MTM (losses)/gains on investment in listed equity securities and gains on derivative instruments, net, in our unaudited consolidated statement of operations.

    Abbreviations used:

    FLNG: Floating Liquefaction Natural Gas vessel
    FSRU: Floating Storage and Regasification Unit
    MKII FLNG: Mark II FLNG
    FPSO: Floating Production, Storage and Offloading unit

    MMBtu: Million British Thermal Units
    mtpa: Million Tons Per Annum

    Reconciliations – Liquidity Measures

    Total Golar Cash

    (in thousands of $) March 31, 2025 December 31, 2024 March 31, 2024
    Cash and cash equivalents             521,434           566,384           547,868
    Restricted cash and short-term deposits (current and non-current)           172,879           150,198             92,159
    Less: VIE restricted cash and short-term deposits            (16,745)            (17,472)            (17,933)
    Total Golar Cash           677,568           699,110           622,094

    Contractual Debt and Adjusted Net Debt

    (in thousands of $) March 31, 2025 December 31, 2024 March 31, 2024
    Total debt (current and non-current) net of deferred finance charges        1,418,816        1,452,255        1,195,063
    VIE consolidation adjustments           251,728           241,666           213,042
    Deferred finance charges             20,946             22,686             22,337
    Total Contractual Debt        1,691,490        1,716,607        1,430,442
    Less: Keppel’s and B&V’s share of the FLNG Hilli contractual debt                     —                     —            (32,035)
    Less: Keppel’s share of the Gimi debt         (196,875)         (201,250)         (189,000)
    Golar’s share of Contractual Debt        1,494,615        1,515,357        1,209,407

    Please see Appendix A for a capital repayment profile for Golar’s Contractual Debt.

    Forward Looking Statements

    This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “if,” “subject to,” “believe,” “assuming,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “could,” “would,” “predict,” “propose,” “continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Golar undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise. Other important factors that could cause actual results to differ materially from those in the forward-looking statements include but are not limited to:

    • our ability and that of our counterparty to meet our respective obligations under the 20-year lease and operate agreement (the “LOA”) with BP Mauritania Investments Limited, a subsidiary of BP p.l.c. (“bp”), entered into in connection with the Greater Tortue Ahmeyim Project (the “GTA Project”), including the commissioning and start-up of various project infrastructure. Delays to FLNG commissioning works and the start of operations for our FLNG Gimi (“FLNG Gimi”) could result in incremental costs to both parties to the LOA;
    • our ability to meet our obligations under our commercial agreements, including the liquefaction tolling agreement (the “LTA”) entered into in connection with the FLNG Hilli Episeyo (“FLNG Hilli”);
    • our ability to meet our obligations to SESA in connection with the recently signed agreement to deploy FLNG Hilli in Argentina, and SESA’s ability to meet its obligations to us;
    • our ability to meet our obligations to SESA in connection with the recently signed definitive agreement to deploy our FLNG in conversion, MKII FLNG in Argentina, including reaching a final investment decision, and SESA’s ability to meet its obligations to us;
    • our ability to obtain additional financing or refinance existing debt on acceptable terms or at all including the satisfaction of the conditions precedent to the consummation of the FLNG Gimi sale leaseback transaction;
    • global economic trends, competition, and geopolitical risks, including U.S. government actions, trade tensions or conflicts such as between the U.S. and China, related sanctions, a potential Russia-Ukraine peace settlement and its potential impact on liquefied natural gas (“LNG”) supply and demand;
    • a material decline or prolonged weakness in tolling rates for FLNGs;
    • failure of shipyards to comply with schedules, performance specifications or agreed prices;
    • failure of our contract counterparties to comply with their agreements with us or other key project stakeholders;
    • an increase in tax liabilities in the jurisdictions where we are currently operating, have previously operated, or expect to operate;
    • continuing volatility in the global financial markets, including commodity prices, foreign exchange rates and interest rates and global trade policy, particularly the recent imposition of tariffs by the U.S. government;
    • changes in general domestic and international political conditions, particularly where we operate, or where we seek to operate;
    • changes in our ability to retrofit vessels as FLNGs, including the availability of vessels to purchase and in the time it takes to build new vessels or convert existing vessels;
    • continuing uncertainty resulting from potential future claims from our counterparties of purported force majeure under contractual arrangements, including our future projects and other contracts to which we are a party;
    • our ability to close potential future transactions in relation to equity interests in our vessels or to monetize our remaining equity method investments on a timely basis or at all;
    • increases in operating costs as a result of inflation or trade policy, including salaries and wages, insurance, crew provisions, repairs and maintenance, spares and redeployment related modification costs;
    • claims made or losses incurred in connection with our continuing obligations with regard to New Fortress Energy Inc. (“NFE”), Energos Infrastructure Holdings Finance LLC (“Energos”), Cool Company Ltd (“CoolCo”), and Snam S.p.A. (“Snam”);
    • the ability of NFE, Energos, CoolCo, and Snam to meet their respective obligations to us, including indemnification obligations;
    • changes to rules and regulations applicable to FLNGs or other parts of the natural gas and LNG supply chain;
    • rules on climate-related disclosures promulgated by the European Union, including but not limited to disclosure of certain climate-related risks and financial impacts, as well as greenhouse gas emissions;
    • actions taken by regulatory authorities that may prohibit the access of FLNGs to various ports and locations; and
    • other factors listed from time to time in registration statements, reports or other materials that we have filed with or furnished to the Commission, including our annual report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission on March 27, 2025 (the “2024 Annual Report”).

    As a result, you are cautioned not to rely on any forward-looking statements. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless required by law.

    Responsibility Statement

    We confirm that, to the best of our knowledge, the unaudited consolidated financial statements for the three months ended March 31, 2025, which have been prepared in accordance with accounting principles generally accepted in the United States give a true and fair view of Golar’s unaudited consolidated assets, liabilities, financial position and results of operations. To the best of our knowledge, the report for the three months ended March 31, 2025, includes a fair review of important events that have occurred during the period and their impact on the unaudited consolidated financial statements, the principal risks and uncertainties and major related party transactions.

    May 27, 2025
    The Board of Directors
    Golar LNG Limited
    Hamilton, Bermuda
    Investor Questions: +44 207 063 7900
    Karl Fredrik Staubo – CEO
    Eduardo Maranhão – CFO

    Stuart Buchanan – Head of Investor Relations

    Tor Olav Trøim (Chairman of the Board)
    Benoît de la Fouchardiere (Director)
    Carl Steen (Director)
    Dan Rabun (Director)
    Lori Wheeler Naess (Director)
    Mi Hong Yoon (Director)
    Niels Stolt-Nielsen (Director)

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

    The MIL Network –

  • MIL-OSI: Questerre reports on Quebec Court of Appeal ruling on Bill 21

    Source: GlobeNewswire (MIL-OSI)

    THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS

    CALGARY, Alberta, May 26, 2025 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported on the recent ruling by the Court of Appeal of Quebec related to Bill 21, An Act ending exploration for petroleum and underground reservoirs and production of petroleum and brine (“Bill 21”). A copy of the ruling in French is available online: https://courdappelduquebec.ca/fileadmin/jugements/200-09-010731-245_Arret_2025-05-22.pdf.

    Michael Binnion, President and Chief Executive Officer of Questerre, commented, “In its ruling, the Court of Appeal recognized the existence of a serious issue with respect to the constitutionality of Bill 21 and reinstated certain provisions of Bill 21. We will request leave to appeal this ruling to the Supreme Court of Canada. In the interim, we will ask the Court of Appeal to suspend this ruling until such time. This means that subject to our appeal, the Government of Quebec could move to enforce the specific provisions related to the abandonment and reclamation of existing wells.”

    He added, “This ruling by the Court of Appeal has no impact on the main trial on the merits of the case. We are following the legal process for this case and have a hearing this week on the Government representatives to be questioned prior to setting a trial date.”

    The ruling by the Court of Appeal relates to the appeal by the Attorney General of Quebec of a judgement rendered in January 2024 by the Quebec Superior Court suspending key provisions of Bill 21. A copy of the original ruling is available online: https://www.questerre.com/wp-content/uploads/2024/01/2024-01-25-Decision-English.pdf. The appeal concerns the analysis of the criteria applicable to the suspension of a law. The Court of Appeal dismissed the joint motion by the Company and other license holders for the review and annulment of the judgement granting the appeal and allowed the appeal.

    The Court of Appeal noted in its decision that the Justice did not err in law or exercise his discretion in an unjudicial or unreasonable manner in concluding there was a serious question to be decided. The Court of Appeal noted that the Justice erred in law on the balance of convenience test and did not presume that the suspension of Bill 21 would cause irreparable harm to the public interest. The ruling noted that in view of the importance of the public interest and the failure to demonstrate the benefits to the public of suspending key provisions of Bill 21 it allowed the appeal and overturned the Justice’s original decision.

    Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.

    Questerre is a believer that the future success of the oil and gas industry depends on the balance of economics, environment, and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

    Advisory Regarding Forward-Looking Statements

    This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including the Company’s plans to seek leave to appeal to the Supreme Court of Canada, its plans to ask the Court of Appeal to suspend the ruling and the impact of this ruling on the main case.

    Forward-looking statements are based on several material factors, expectations, or assumptions of Questerre which have been used to develop such statements and information, but which may prove to be incorrect. Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Questerre can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: the implementation of Bill 21 by the Government of Quebec and certain other risks detailed from time-to-time in Questerre’s public disclosure documents. Additional information regarding some of these risks, expectations or assumptions and other factors may be found in the Company’s Annual Information Form for the year ended December 31, 2024, and other documents available on the Company’s profile at www.sedar.com. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Questerre undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

    The MIL Network –

  • MIL-Evening Report: A not-so-modern epidemic: what 17th-century nuns can teach us about coping with loneliness

    Source: The Conversation (Au and NZ) – By Claire Walker, Associate Professor, School of Historical and Classical Studies, University of Adelaide

    La Religieuse Tenant La Sainte Croix (The Nun Holds the Cross), Jacques Callot, French,1621–35. The Metropolitan Museum of Art

    Is loneliness a modern epidemic as we are so often told? Did people in the past suffer similar feelings of isolation?

    The word “loneliness” was not common before the 19th century. Cultural historian Fay Bound Alberti argues it was rarely used before 1800.

    This does not mean people didn’t feel alone. They just had different names for it – and they didn’t always think it was bad. Modern people living hectic lives in bustling cities often yearn for peace and tranquillity; so did our forebears.

    From the hermits of the early Christian church escaping society for lives of solitary prayer, to medieval anchorites in secluded cells, isolation was a prerequisite for spiritual success.

    But were isolated monks, nuns and hermits also lonely, as we would understand the word today? And do early modern nuns offer solutions for our own loneliness epidemic?

    Searching for solitude

    Early Christian religious thinkers and medieval churchmen viewed voluntary loneliness positively, with successful practitioners becoming saints. But religious solitude was not without its problems.

    Holy recluses, far from escaping society, were pursued for spiritual advice. Some, like Simeon Stylites (390–459), went to extraordinary measures, living atop a pillar near Aleppo for 30-odd years to achieve solitude.

    Monasticism provided an alternative. Monastic rules, like that of Benedict of Nursia (480–547), institutionalised isolation. In Benedictine monasteries, solitude was created through seclusion from society, strict silence, and prohibition of close friendships.

    Yet, like hermits, monks and nuns couldn’t escape the world completely. Monasteries constituted vital spiritual resources, providing multiple services and conducting business for wider society.

    Nuns at Work, Follower of Alessandro Magnasco (Italian, Milanese, first half 18th century).
    The Metropolitan Museum of Art

    Over the centuries, reforming bishops believed there was too much interaction between monasteries and the wider community. This led to repeated church reforms from the 10th century onwards to secure separation.

    Male members of the clergy were particularly worried about nuns who were considered “less capable” of maintaining holy solitude. As a result, women had to observe strict enclosure behind convent walls, limiting their economic and spiritual capacity. Reforms in the 16th century upheld nuns’ incarceration.

    Many women resisted, but others embraced isolation as spiritually liberating.

    Isolation in exile

    Early modern English convents, exiled in Europe after Henry VIII’s dissolution of the monasteries, shed light on nuns’ experiences of loneliness.

    The convents were subject to traditional rules of enclosure and silence. To become nuns, women left their homeland, family and friends. They joined English houses, so they were not alone among strangers, but they had to remain emotionally distant from one another, despite living in a community where they did everything together.

    Women wanting spiritual fulfilment often sought additional solitude.

    Benedictine mystic Gertrude More (1606–33) praised prescribed periods of silence because in them she might hear her Lord’s whispers.

    Carmelite prioress Teresa of Jesus Maria Worsley (1601–42) took time from her busy administrative role and hid from the other nuns to pray in solitude.

    The Nun in Count Burckhardt, from the periodical Once a Week. After James McNeill Whistler, American. Associated with Dalziel Brothers, British. September 27 1862.
    The Metropolitan Museum of Art

    Not all women found seclusion and silence so fulfilling, however, with some experiencing bouts of spiritual doubt and poor mental health. Many missed their family and homeland.

    This was particularly common among young sisters and those in convent schools. In the 1660s, Catherine Aston returned to England to recover after suffering poor health and depression.

    Alone in a crowd

    Nuns’ diverse experiences of monastic solitude reflect modern urban loneliness.

    In 1812 Lord Byron expressed the contradictory nature of loneliness in the poem Childe Harold, juxtaposing the positive solitary contemplation of nature with its negative counterpart – aloneness “midst the crowd”.

    In the present day many people feel alone in cities, even domestic households, as Olivia Laing and Keith Snell have shown.

    How might this be countered? Do early modern nuns offer solutions?

    A study of 21st century Spanish monks and nuns found monastic training, prayer and silence create feelings of spiritual satisfaction and purpose which lessens loneliness.

    Prayer is not the answer for everyone because modern isolation is caused by multiple factors in a largely secular society. There are alternative paths to meditation, however, through yoga or mindfulness which can provide feelings akin to monks’ and nuns’ “spiritual satisfaction”.

    Similarly, the nuns’ sense of “purpose” might be achieved through nostalgia. Nostalgia is the longing for an idealised and unobtainable past – a time when life was better. Research by psychologists suggests nostalgia can be beneficial in counteracting loneliness, even enabling forward-looking and proactive behaviours.

    Nuns at Mass, Amedor, Spanish, 1900.
    Getty Museum

    This was certainly true for the nuns exiled in Europe following Henry VIII’s abolition of monasticism in England. They dreamt of a future when their convents would return to England, family and friends. All nuns prayed both communally and in private for this outcome.

    Some went further, engaging in missionary work and political intrigue to achieve their goal.

    We cannot know whether this stifled loneliness, but by combining the benefits of meditation and activism it likely fostered a shared sense of purpose.

    Just as Gertrude More and Teresa of Jesus Maria Worsley found solitude essential for spiritual satisfaction, activist nuns believed they might reverse the English reformation from their exiled convents. Solitude, prayer and political engagement gave them a sense of purpose.

    Everyone’s situation is unique. There is no single solution for resolving isolation in the contemporary world. But the knowledge that it can be positive is perhaps a step towards countering the modern epidemic.

    Claire Walker has received funding from the Australian Research Council.

    – ref. A not-so-modern epidemic: what 17th-century nuns can teach us about coping with loneliness – https://theconversation.com/a-not-so-modern-epidemic-what-17th-century-nuns-can-teach-us-about-coping-with-loneliness-249487

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Russia: Iran to Continue Enriching Uranium on Home Soil – Foreign Minister

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    TEHRAN, May 26 (Xinhua) — Iran welcomes the launch of a uranium enrichment center in the region, but will continue enriching uranium on its own soil, Iranian Foreign Minister Abbas Araghchi said on Sunday.

    Speaking at a meeting with members of the Iranian parliament’s National Security and Foreign Policy Committee, A. Araghchi said that regarding the indirect talks between Iran and the US, the Iranian side has never left the negotiating table and will continue the diplomatic path, but will not negotiate under pressure, the official IRNA news agency reported.

    He also warned of a “tough” response if France, Germany and Britain triggered the retaliatory mechanism and reimposed sanctions.

    The mechanism is part of the 2015 nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), signed by Iran and six countries — Britain, China, France, Germany, Russia and the United States. It allows the other parties to reimpose international sanctions if Tehran fails to comply with the agreement.

    Since April, Iran and the United States, brokered by Oman, have held five rounds of proximity talks on Tehran’s nuclear program and the lifting of U.S. sanctions, three in Muscat, Oman, and two in Rome.

    In recent days, US officials have repeatedly demanded that Iran completely stop enriching uranium, but Tehran has strongly opposed it. –0–

    MIL OSI Russia News –