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Category: Technology

  • MIL-OSI Global: Cutting HIV aid means undercutting US foreign and economic interests − Nigeria shows the human costs

    Source: The Conversation – USA – By Kathryn Rhine, Associate Professor of General Internal Medicine, University of Colorado Anschutz Medical Campus

    A large number of children are born with HIV in Nigeria. Kristian Buus/Corbis News via Getty Images

    A little over two decades ago, addressing Nigeria’s HIV crisis topped U.S. President George W. Bush’s priorities. Africa’s most populous nation had 3.5 million HIV cases, and the disease threatened to destabilize the region and ultimately compromise U.S. interests. These interests included securing access to Nigeria’s substantial oil reserves, maintaining regional military stability and protecting trade partnerships worth billions.

    Following years of agitation from AIDS activists, Bush launched the President’s Emergency Plan for AIDS Relief, or PEPFAR, in 2003. This U.S.-led HIV treatment program has since saved tens of millions of lives around the globe.

    While living in Nigeria for my work as a medical anthropologist, I witnessed PEPFAR’s rollout and saw firsthand how the powerful therapies it provided transformed Nigerian lives. The women I worked with told me they could finally put aside the fears of death or abandonment that had consumed their days. Instead, they could focus on a newly expanded horizon of possibilities: building careers, finding love, having healthy children.

    Now, however, a serious threat to preventing and treating HIV worldwide looms. The Trump administration’s decision to substantially restrict access to a vital HIV prevention tool – PEPFAR-funded preexposure prophylaxis, or PrEP – would cut off ongoing treatment for millions of people and block future access for countless others who need this protection.

    The Trump administration aims to cut HIV prevention funding.

    The timing is devastating: Scientists recently made a major advance in HIV prevention. Named the 2024 Breakthrough of the Year by the journal Science, the drug lenacapavir offers six months of HIV protection with one injection. Unlike previous PrEP options that required daily pills, which created significant barriers to consistent access and adherence, this twice-yearly injection dramatically simplifies prevention.

    By undermining access to a treatment that has been essential to reducing HIV rates, the Trump administration’s new restrictions threaten to derail two decades of bipartisan investment in eliminating HIV globally. The consequences extend well beyond individual lives.

    Afterlife of aid

    “Some people that have it, they choose to be wicked and just spread it all around,” confided Elizabeth, a woman I interviewed during my time in Nigeria. I am using a pseudonym to protect her privacy. “They say, ‘Somebody gave it to me, so I am going to spread it too.’ But if they know that they can live positively with the virus, it would reduce their evil thoughts.”

    Elizabeth’s words reveal a concerning dynamic: When hope for treatment disappears, a dangerous desperation can take its place. Patients who feel abandoned by health care systems might lose motivation to protect others from HIV. They may also stop seeking medical care, abandon prevention measures and turn away from future aid.

    Cultural anthropologists use the phrase “the afterlife of aid” to describe what happens after global aid programs are withdrawn or drastically reduced. Communities are left not just without resources but with a lasting sense of betrayal that undermines their willingness to seek help, creating cycles of skepticism that can persist for generations.

    Treatment as hope

    In my fieldwork, I’ve witnessed how managing life with the virus involves far more than taking medications. It requires carefully navigating personal relationships, family obligations, cultural expectations and hopes for the future.

    Many of the women I worked with had contracted HIV from their husbands or boyfriends. Some even suspected their partners’ positive status but were unable to protect themselves. Before these medications, women – both HIV positive and HIV negative – had to choose between risking rejection or risking transmission.

    The welfare of entire families depends on access to HIV medication. Here, a woman who is the sole provider of several children takes antiretroviral treatment.
    Saurabh Das/AP Photo

    Elizabeth and David’s story illustrates these challenges. They had been together for more than a year when David proposed. “When I sensed he was serious about marriage, I knew I had to tell him my status,” Elizabeth told me during one of our many conversations. Though initially shocked, he remained committed to their relationship.

    Elizabeth had maintained a decade of careful adherence to her HIV treatment, but the couple still struggled with consistent condom use. David described using condoms as akin to “eating candy with the wrapper still on it.” He also was eager to have a baby. While PrEP had greatly reduced transmission risk, it placed the full burden of protecting her husband on Elizabeth.

    The path Elizabeth navigated highlights how Nigerian cultural expectations complicated their situation. When proving one’s fertility is often considered essential to establishing gender identity, the pressure to have sex without protection created additional tension. Moreover, Elizabeth’s need to balance her own health needs with her husband’s desires reflected the delicate negotiation many Nigerian women face between personal well-being and marriage.

    As Elizabeth prepared for the birth of their child, she expressed both joy and anxiety: “I have to stay healthy for both of them now.”

    Politicizing global health

    Previous interruptions in aid foreshadow what’s at stake when shifts in U.S. political priorities compromise global health funding.

    Consider the global spike in maternal and child mortality when President Ronald Reagan instituted the Mexico City Policy, often referred to as the “global gag rule.” It blocked U.S. funding to all international nongovernmental organizations that provided or even referred abortion services.

    This policy has been repeatedly implemented by Republican administrations – including those of George H.W. Bush, George W. Bush and Donald Trump during his first term – and subsequently rescinded by Democratic presidents, creating a disruptive cycle of funding uncertainty. Among these affected organizations are recipients of PEPFAR funds.

    The human cost of this policy pendulum is measurable and significant. Researchers have found that when this law is enacted, nations across the globe suffer increased death rates for newborns and mothers as well as jumps in HIV cases. In countries heavily dependent on U.S. aid, the Mexico City Policy has resulted in approximately 80 additional child deaths and nine additional maternal deaths per 100,000 live births annually and about one additional HIV infection per 10,000 uninfected people.

    The Trump administration reinstated the global gag rule in 2017.
    Erik McGregor/LightRocket via Getty Images

    My research in Nigeria also reveals the fragile progress that now hangs in the balance. Before treatments arrived, HIV ravaged Nigerian communities. In 2001, nearly 6% of the population had HIV, totaling around 3.5 million people. The Hausa language reflected this trauma: Terms for AIDS also meant “lifeless body” and “nearby grave.”

    Following the rollout of HIV treatments, Nigeria’s cases dropped dramatically – by 2010, prevalence had fallen to 4.1%. Declines continued steadily as treatment access expanded from 360,000 people in 2010 to over 1 million by 2018. This progress was heavily dependent on international support, with PEPFAR and other global donors providing over 80% of the US$6.2 billion spent fighting HIV in Nigeria between 2005 to 2018.

    In 2019, around 1.3% of the population had HIV, or 1.9 million people.

    From personal choice to global security

    What’s at stake isn’t just increasing HIV rates. The Trump administration’s reductions in foreign aid threaten to unravel over two decades of U.S. investment in global security and economic growth.

    Public health crises rarely stay contained within national boundaries. When health systems fail in West Africa, diseases can quickly spread overseas and require costly emergency responses. The 2014 Ebola outbreak demonstrated this reality, when cases reached America and prompted a $5.4 billion emergency response. Similarly, the 2009 H1N1 influenza pandemic, which infected around 60 million Americans, showed how quickly infectious diseases circle the globe when surveillance and containment systems are inadequate.

    Inconsistent aid, in turn, undermines American global leadership and creates openings for competing powers to establish their influence. China has actively exploited these gaps, establishing bilateral trade with Africa reaching $295 billion in 2024. While the U.S. reduced its global health engagement during previous administrations, China expanded its global health diplomacy, partnering on issues ranging from infectious disease prevention and control to health emergency response and health technology innovation.

    Meanwhile, restrictions in PrEP access risk recreating the same impossible choices women faced at the advent of the epidemic: choosing between disclosing their status and risking abandonment; accepting unprotected sex and risking transmission, or refusing unprotected sex and risking violence or loss of economic support.

    I believe the result is a far less safe world where preventable suffering continues, hard-won progress unravels and the promise of an AIDS-free generation remains unfulfilled.

    Kathryn Rhine has received funding from the National Endowment for the Humanities, the Andrew W. Mellon Foundation, the Wenner Gren Foundation, the American Philosophical Society, the West African Research Association, the American Council of Learned Societies, Fulbright programs, the National Science Foundation, and the National Security Education Program. These views are her own and not those of her institution.

    – ref. Cutting HIV aid means undercutting US foreign and economic interests − Nigeria shows the human costs – https://theconversation.com/cutting-hiv-aid-means-undercutting-us-foreign-and-economic-interests-nigeria-shows-the-human-costs-253705

    MIL OSI – Global Reports –

    May 20, 2025

  • MIL-OSI Global: Space tourism’s growth blurs the line between scientific and symbolic achievement – a tourism scholar explains how

    Source: The Conversation – USA – By Betsy Pudliner, Associate Professor of Hospitality and Technology Innovation, University of Wisconsin-Stout

    Blue Origin’s NS-31 flight lifted off on April 14, 2025. Justin Hamel/Getty Images

    On April 14, 2025, Blue Origin launched six women – Aisha Bowe, Amanda Nguyễn, Gayle King, Katy Perry, Kerianne Flynn and Lauren Sánchez – on a suborbital journey to the edge of space.

    The headlines called it a historic moment for women in space. But as a tourism educator, I paused – not because I questioned their experience, but because I questioned the language. Were they astronauts or space tourists? The distinction matters – not just for accuracy, but for understanding how experience, symbolism and motivation shape travel today.

    In tourism studies, my colleagues and I often ask what motivates travel and makes it a meaningful experience. These women crossed a boundary by leaving Earth’s surface. But they also stepped into a controversy about a symbolic one: the blurred line between astronaut and tourist, between scientific achievement and curated experience.

    This flight wasn’t just about the altitude they flew to – it was about what it meant. As commercial space travel becomes more accessible to civilians, more people are joining spaceflights not as scientists or mission specialists, but as invited guests or paying participants. The line between astronaut and space tourist is becoming increasingly blurred.

    Blue Origin’s NS-31 flight brought six women to the edge of space.

    In my own work, I explore how travelers find meaning in the way their journeys are framed. A tourism studies perspective can help unpack how experiences like the Blue Origin flight are designed, marketed and ultimately understood by travelers and the tourism industry.

    So, were these passengers astronauts? Not in the traditional sense. They weren’t selected through NASA’s rigorous training protocols, nor were they conducting research or exploration in orbit.

    Instead, they belong to a new category: space tourists. These are participants in a crafted, symbolic journey that reflects how commercial spaceflight is redefining what it means to go to space.

    Space tourism as a niche market

    Space tourism has its origins in 1986 with the launch of the Mir space station, which later became the first orbital platform to host nonprofessional astronauts. In the 1990s and early 2000s, Mir and its successor, the International Space Station, welcomed a handful of privately funded civilian guests – most notably U.S. businessman Dennis Tito in 2001, often cited as the first space tourist.

    Space tourism has since evolved into a niche market selling brief encounters to the edge of Earth’s atmosphere. While passengers on the NS-31 flight did not purchase their seats, the experience mirrors those sold by commercial space tourism providers such as Virgin Galactic.

    Like other forms of niche tourism – wellness retreats, heritage trails or extreme adventures – space travel appeals to those drawn to novelty, exclusivity and status, regardless of whether they purchased the ticket.

    These suborbital flights may last just minutes, but they offer something far more lasting: prestige, personal storytelling and the feeling of participating in something rare. Space tourism sells the experience of being somewhere few have visited, not the destination itself. For many, even a 10-minute flight can fulfill a deeply personal milestone.

    Tourist motivation and space tourism’s evolution

    The push-and-pull theory in tourism studies helps explain why people might want to pursue space travel. Push factors – internal desires such as curiosity, an urge to escape or an eagerness to gain fame – spark interest. Pull factors – external elements such as wishing to see the view of Earth from above or experience the sensation of weightlessness – enhance the appeal.

    Space tourism taps into both. It’s fueled by the internal drive to do something extraordinary and the external attraction of a highly choreographed, emotional experience.

    Participants in space tourism wear branded jumpsuits with the company’s logo, pose for photos and talk to the media about their experience.
    AP Photo/Tony Gutierrez

    These flights are often branded – not necessarily with flashy logos, but through storytelling and design choices that make the experience feel iconic. For example, while the New Shepard rocket the women traveled in doesn’t carry a separate emblem, it features the company’s name, Blue Origin, in bold letters along the side. Passengers wear personalized flight suits, pose for preflight photos and receive mission patches or certificates, all designed to echo the rituals of professional space missions.

    What’s being sold is an “astronaut-for-a-day” experience: emotionally powerful, visually compelling and rich with symbolism. But under tourism classifications, these travelers are space tourists – participants in a curated, short-duration excursion.

    Representation and marketing experience

    The image from the Blue Origin flight of six women boarding a rocket was framed as a symbolic victory – a girl-power moment designed for visibility and celebration – but it was also carefully curated.

    This wasn’t the first time women entered space. Since its inception, NASA has selected 61 women as astronaut candidates, many of them making groundbreaking contributions to space science and exploration. Sally Ride, Mae Jemison, Christina Koch and Jessica Meir not only entered space – they trained as astronauts and contributed significantly to science, engineering and long-duration missions. Their journeys marked historic achievements in space exploration rather than curated moments in tourism.

    Recognizing their legacy is important as commercial spaceflight creates new kinds of unique, tailored experiences, ones shaped more by media performance than by scientific milestones.

    The Blue Origin flight was not a scientific mission but rather was framed as a symbolic event. In tourism, companies, marketers and media outlets often create these performances to maximize their visibility. SpaceX has taken a similar approach with its Inspiration4 mission, turning a private orbital flight into a global media event complete with a Netflix documentary and emotional storytelling.

    The Blue Origin flight sold a feeling of progress while blending the roles between astronaut and guest. For Blue Origin, the symbolic value was significant. By launching the first all-female crew into suborbital space, the company was able to claim a historic milestone – one that aligned them with inclusion – without the cost, complexity or risk associated with a scientific mission. In doing so, they generated enormous media attention.

    Tourism education and media literacy

    In today’s world, space travel is all about the story that gets told about the flight. From curated visuals to social media posts and press coverage, much of the experience’s meaning is shaped by marketing and media.

    Understanding that process matters – not just for scholars or industry insiders, but for members of the public, who follow these trips through the narratives produced by the companies’ marketing teams and media outlets.

    Another theory in tourism studies describes how destinations evolve over time – from exploration, to development, to mass adoption. Many forms of tourism begin in an exploration phase, accessible only to the wealthy or well connected. For example, the Grand Tour of Europe was once a rite of passage for aristocrats. Its legacy helped shape and develop modern travel.

    As more people travel to a destination over time, it moves through the tourism area life cycle. During the early exploration phase, the destination has only a few tourists.
    Coba56/Wikimedia Commons

    Right now, space tourism is in the exploration stage. It’s expensive, exclusive and available only to a few. There’s limited infrastructure to support it, and companies are still experimenting with what the experience should look like. This isn’t mass tourism yet, it’s more like a high-profile playground for early adopters, drawing media attention and curiosity with every launch.

    Advances in technology, economic shifts and changing cultural norms can increase access to unique destinations that start as out of bounds to a majority of tourists. Space tourism could be the next to evolve this way in the tourism industry. How it’s framed now – who gets to go, how the participants are labeled and how their stories are told – will set the tone moving forward. Understanding these trips helps people see how society packages and sells an inspirational experience long before most people can afford to join the journey.

    Betsy Pudliner is affiliated with International Council of Hotel, Restaurant and Institutional Educators.

    – ref. Space tourism’s growth blurs the line between scientific and symbolic achievement – a tourism scholar explains how – https://theconversation.com/space-tourisms-growth-blurs-the-line-between-scientific-and-symbolic-achievement-a-tourism-scholar-explains-how-255284

    MIL OSI – Global Reports –

    May 20, 2025

  • MIL-OSI: Flexera appoints Mike Jerich to President to capitalize on next wave of company growth

    Source: GlobeNewswire (MIL-OSI)

    ITASCA, Ill., May 19, 2025 (GLOBE NEWSWIRE) — Flexera, the global leader in technology spend and risk management, today announced the appointment of Mike Jerich as President. Jim Ryan will remain CEO. This leadership appointment comes at a time of continued growth and momentum across Flexera’s product portfolio and customer base.

    Jerich brings over 25 years of experience in the enterprise technology sector, with a proven track record of driving operational excellence, scaling global teams, and ensuring customer retention. Most recently, he served as Chief Executive Officer at HungerRush, where he was instrumental in helping hone their strategic framework as a leading provider of restaurant technology solutions. Jerich also previously held senior leadership positions at ServiceMax (now PTC), FinancialForce, IPC Systems, IntelePeer and Level 3 Communications.

    “I’m honored to join Flexera at such a pivotal moment,” said Jerich. “With a powerful platform for FinOps, ITAM and SaaS management, we are uniquely positioned to help organizations gain visibility and insight over their technology spend and risk, regardless of the type of technology, where it lives or who owns it. I look forward to working with our talented team to accelerate innovation, strengthen our partner relationships and drive customer value.”

    As President, Jerich will be responsible for overseeing day-to-day operations, executing the company’s strategic vision, and expanding its global presence across ITAM, FinOps and SaaS Management.

    “Mike is a thoughtful, strategic technology leader with the vision, energy, and a strong operational discipline needed to drive consistent growth while we scale into our next phase,” said Jim Ryan, CEO of Flexera. “His appointment marks a new chapter in our journey—one that’s focused on impact, innovation, and capitalizing on momentum.”

    The announcement follows a series of recent milestones for Flexera, including:

    • Record company growth in 2024, driven by increasing customer and partner demands to optimize IT spend, mitigate increasing risk and rationalize complexity
    • The acquisition of Spot, bolstering the Flexera FinOps portfolio with AI-enabled Kubernetes cost management and commitment management provided by the Eco, Ocean, Elastigroup and CloudCheckr products; this comes one year after the acquisition of Snow Software
    • The launch of its Cloud License Management capability, empowering FinOps and ITAM teams to optimize software running in the cloud and drive impactful cost savings
    • Flexera executive team additions of experienced, results-driven leaders including Greg Petraetis as Chief Revenue Officer (formerly of SAP and Employ) and Leslie Alore as Senior Vice President of Marketing (formerly of Ivanti and Iron Mountain)

    As organizations navigate increasing financial pressure and volatile global market conditions, Flexera continues to deliver actionable insight at the intersection of ITAM, FinOps and SaaS management for hybrid IT environments.

    Follow Flexera

    About Flexera
    Flexera helps organizations understand and maximize the value of their technology, saving billions of dollars in wasted spend. Powered by the Flexera Technology Intelligence Platform, our award-winning IT asset management, FinOps and SaaS management solutions provide comprehensive visibility and actionable insights on an organization’s entire IT ecosystem. This intelligence enables IT, finance, procurement, FinOps and cloud teams to address skyrocketing costs, optimize spend, mitigate risk and identify opportunities to create positive business outcomes. More than 50,000 global organizations rely on Flexera and its Technopedia reference library, the largest repository of technology asset data. Learn more at flexera.com.

    For more information, contact:
    Ciri Haugh
    Flexera
    publicrelations@flexera.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a044b8a-18cb-4595-9dcf-4caffe2179c5

    The MIL Network –

    May 20, 2025

  • MIL-OSI: Sagtec Global Delivers 8,000 Speed+ Licenses and 200 units of FoodKiosk Machines in UAE, Marking Major Milestone in Regional Rollout

    Source: GlobeNewswire (MIL-OSI)

    KUALA LUMPUR, Malaysia, May 19, 2025 (GLOBE NEWSWIRE) — Sagtec Global Limited (NASDAQ: SAGT) (“Sagtec” or the “Company”), a leading provider of customizable software solutions, today announced the successful delivery of 8,000 Speed+ Cloud-Based Smart Ordering System licenses and 200 FoodKiosk smart self-service machines to its exclusive UAE partner, SMD Tech – FZCO (“SMD Tech”). The delivery is invoiced at US$1,345,000, representing a substantial commercial milestone in Sagtec’s strategic expansion into the Middle East and reinforcing its role as a key enabler in the region’s food and beverage (F&B) and retail digital transformation.

    The delivery, which forms part of the previously announced five-year Master Dealership Agreement with SMD Tech, represents 80% fulfillment of the initial 10,000-license commitment. The integration of 200 FoodKiosk machines adds a critical hardware component to the Speed+ ecosystem, enabling a fully automated and seamless customer ordering experience in both dine-in and quick-service environments.

    “This milestone delivery not only affirms Sagtec’s commitment to executing at scale but also signals strong demand from F&B operators seeking intelligent digital solutions,” said Kevin Ng, Chairman, Executive Director and CEO of Sagtec Global. “Together with SMD Tech, we are enabling the digital transformation of service infrastructure across Dubai and the wider UAE, combining smart software with physical automation for a complete end-to-end solution.”

    The installed Speed+ platform enables real-time order management, advanced analytics, and automated marketing integration. Coupled with the FoodKiosk terminals, businesses can now reduce wait times, optimize manpower, and boost customer engagement—key priorities in a competitive, experience-driven market.

    SMD Tech’s robust local presence and deep domain knowledge continue to accelerate deployment across key commercial zones, including malls, airports, and major F&B franchise groups.

    “We’re proud to see Speed+ and FoodKiosk adoption growing rapidly,” said Mr. Ahmed Al Mansoori, Managing Director of SMD Tech. “This partnership is transforming customer journeys in the UAE and delivering tangible operational efficiencies to our clients.”

    The deployment coincides with growing regional demand for contactless ordering and smart automation. According to Grand View Research, the Middle East’s cloud-based POS market is projected to reach US$1 billion by 2030, underlining the value of Sagtec’s integrated approach.

    About Sagtec Global Limited

    Sagtec is a leading provider of customizable software solutions, primarily serving the Food & Beverage (F&B) sector. The Company also offers software development, data management, and social media management to enhance operational efficiency across various industries. Additionally, Sagtec operates power-bank charging stations at 300 locations across Malaysia through its subsidiary, CL Technology (International) Sdn Bhd.

    For more information on the Company, please log on to https://www.sagtec-global.com/.

    About SMD Tech – FZCO

    SMD Tech – FZCO is a technology-focused enterprise based in the United Arab Emirates, specializing in digital infrastructure, IoT solutions, and enterprise transformation. With a mission to empower businesses through innovative software and hardware integration, SMD Tech delivers cutting-edge solutions tailored to the region’s fast-evolving digital ecosystem. The company is committed to driving operational excellence and future-ready growth for its clients.

    Contact Information:

    Sagtec Global Limited Contact:
    Ng Chen Lok
    Chairman, Executive Director & Chief Executive Officer
    Phone: +6011-6217 3661
    Email: info@sagtec-global.com

    The MIL Network –

    May 20, 2025

  • MIL-OSI: Docker Announces Hardened Images Catalog to Strengthen Enterprise Software Supply Chain Security

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., May 19, 2025 (GLOBE NEWSWIRE) — Docker, Inc.®, a leading provider of cloud-native application development tools, content, and services for developers, including emerging AI workflows, today announced Docker Hardened Images (DHI), a curated catalog of security-hardened, enterprise-grade container images designed to meet today’s toughest software supply chain challenges.

    Designed with security at the core, Docker Hardened Images are minimal, continuously maintained, and tested to meet enterprise compliance standards. Available directly through Docker Hub, DHI enables developers, security engineers, and platform teams to scale securely without disrupting familiar workflows.

    “The complexity of securing container dependencies shouldn’t fall squarely on developers’ shoulders,” said Michael Donovan, vice president of Product at Docker. “With Docker Hardened Images, we’re making it easier for teams to build with trusted and verified components that meet enterprise-grade security and compliance standards without adding friction to their workflow.”

    An Emerging Market, A Trusted Differentiator

    Docker is uniquely positioned to deliver this. With over a decade of experience building tools developers love and securing billions of image pulls every month on Docker Hub, Docker Hardened Images are a natural evolution of Docker’s platform, built directly into the workflows teams already trust. The result: a secure, flexible foundation that works out of the box and meets the needs of modern enterprise teams.

    At launch several partners are joining Docker to support the Docker Hardened Images ecosystem, including leading software publishers and security providers. These partners help deliver secure, enterprise-ready images and integrate enhanced scanning, metadata, and compliance insights into existing workflows. Their collaboration reflects the growing demand for trusted, scalable solutions that reduce container risk without slowing development. Partners announced today include Cloudsmith, GitLab, Grype, JFrog, Microsoft, Neo4j, NGINX, Sonatype, Sysdig, and Wiz, with more yet to come.

    “Docker’s Hardened Images are a major step forward in software supply chain assurance,” said Steven Dickens, CEO and Principal Analyst at HyperFRAME Research. “In a market still in its early stages, developers and enterprises are looking for a trusted partner who understands both scale and simplicity. Docker brings years of ecosystem leadership to the hardened container space, combining security, usability, and seamless integration in a way that few others can.”

    “Wiz is excited to see Docker entering the container vulnerability management space with their Hardened Images offering,” said Oron Noah, Vice President of Product, Extensibility & Partnerships at Wiz. “Improving the software supply chain takes collaboration across the ecosystem. With Docker’s key position in the container ecosystem and the reach of Docker Hub, this initiative has the potential to dramatically improve software supply chain security across the industry.”

    Built for the Enterprise Developer

    Modern software teams move fast but security, compliance, and trust can’t be left behind. Docker Hardened Images are built for the real-world needs of enterprise developers and the teams that support them. Whether you’re responsible for building, securing, or scaling applications, DHI helps you move faster with guardrails in place:

    • Platform Engineers gain a scalable way to manage secure, compliant images with full control over policies and provenance
    • Application Developers can focus on shipping code, not chasing CVEs, with hardened, ready-to-run images integrated into Docker Hub
    • Security Engineers get consistent, verifiable artifacts that align with organization-wide security standards and simplify audits
    • CISOs gain supply chain visibility and assurance that container dependencies meet compliance expectations out of the box

    Secure by Default, Flexible by Design

    Docker Hardened Images are engineered to provide maximum security and compliance while staying lightweight, fast, and customizable. Each image is:

    • Built to eliminate vulnerabilities, with few-to-zero exploitable CVEs and continuous scanning and updates, all built to meet SLSA Build Level 3 requirements
    • Designed for least privilege, running as non-root by default to reduce risk in production
    • Minimized by design, based on distroless principles that reduce attack surface and improve startup time, with up to 95% reduction in attack surface
    • Compliance-ready: SBOMs, VEX, build provenance, and more — all cryptographically signed.
    • Available across multiple distros—including Alpine and Debian—with more to come, supporting a wide range of enterprise environments.

    Now Available on Docker Hub

    Docker Hardened Images are now available on Docker Hub—discover how your team can get started.

    Resources

    About Docker
    Docker drives modern software development by making it easy to adopt container technology to radically boost productivity, security, testing, and collaboration at every step of the developer experience. Embraced by over 20 million developers worldwide, Docker’s unmatched flexibility and choice make it the preferred tool for developers seeking efficiency and innovation for creating modern applications. Learn more about Docker at www.docker.com.

    The MIL Network –

    May 20, 2025

  • MIL-OSI: Varonis Becomes the First Data Security Platform to Achieve FedRAMP Authorization

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, May 19, 2025 (GLOBE NEWSWIRE) — Varonis Systems, Inc. (Nasdaq: VRNS), the leader in data security, proudly announces that its cloud-native Data Security Platform is the first in its category to achieve Federal Risk and Authorization Management Program (FedRAMP®) Authorization.

    The industry milestone confirms that Varonis’ AI-driven platform aligns with rigorous standards for cloud-hosted security solutions and highlights the company’s commitment to providing best-in-class data security to federal agencies and public-sector organizations nationwide.

    “FedRAMP is the gold standard, and Varonis is the first and only FedRAMP-certified Data Security Platform — making us the clear choice for organizations that need to reduce their blast radius, respond to threats, and help prevent data breaches,” said Varonis CEO, President, and Co-founder Yaki Faitelson. “Our public-sector customers — as well as private-sector enterprises that demand solutions that meet exacting security standards — will now benefit from the speed to value and automation our cloud platform offers.”

    FedRAMP is a government-wide program that provides a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services. To achieve FedRAMP Moderate Authorization, Varonis’ cloud Data Security Platform successfully passed an extensive third-party assessment.

    Government agencies and federal systems integrators already rely on Varonis to support Zero Trust, insider threat detection, data loss prevention, and compliance with mandates like NIST 800-53, OMB M-21-31, M-22-09, and CISA Zero Trust guidance.

    Now, public-sector entities can accelerate their data security programs and prepare for safe AI rollouts by adopting Varonis’ industry-leading platform to:

    • Continuously discover and classify critical data like CUI
    • Identify and right-size access automatically and continuously
    • Detect advanced threats with AI-powered automation

    The Varonis Data Security Platform is available for federal agencies to purchase now. Learn more about Varonis’ federal government solutions.

    Additional Resources:

    About Varonis
    Varonis (Nasdaq: VRNS) is the leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.

    Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), AI security, and insider risk management.

    Varonis protects data first, not last. Learn more at www.varonis.com.

    Investor Relations Contact:
    Tim Perz
    Varonis Systems, Inc.
    646-640-2112
    investors@varonis.com

    News Media Contact:
    Rachel Hunt
    Varonis Systems, Inc.
    877-292-8767 (ext. 1598)
    pr@varonis.com 

    The MIL Network –

    May 20, 2025

  • MIL-OSI: Avaap Named Alteryx Innovation Partner of the Year at Alteryx Inspire 2025

    Source: GlobeNewswire (MIL-OSI)

    COLUMBUS, Ohio, May 19, 2025 (GLOBE NEWSWIRE) — Avaap, a leading provider of data, technology, and management consulting services, is proud to announce that it has been named the Alteryx Innovation Partner of the Year at Alteryx Inspire 2025, the premier analytics and data science conference held in Las Vegas, Nevada.

    The Innovation Partner of the Year award recognizes Avaap’s outstanding achievements in delivering cutting-edge analytics solutions that drive transformative business outcomes. With a focus on helping organizations modernize their data ecosystems and democratize data access, Avaap has consistently leveraged Alteryx’s powerful platform to develop scalable, high-impact solutions for clients across higher education, government, and other industries.

    “We are honored to receive the Innovation Partner of the Year award from Alteryx,” said Steve Csuka, CEO of Avaap. “This recognition reflects our team’s deep expertise, commitment to excellence, and shared vision with Alteryx to empower organizations to harness the full potential of their data. We look forward to continuing our collaboration and pushing the boundaries of what’s possible in data, analytics, and AI.”

    Avaap’s partnership with Alteryx has enabled clients to streamline operations, enhance decision-making, and accelerate digital transformation initiatives. Through custom workflow development, advanced analytics solutions, and enterprise enablement strategies, Avaap has distinguished itself as a trusted advisor in the data and analytics space.

    “We are incredibly proud to partner with the recipients of the 2025 Alteryx Partner Awards,” said Steven Birdsall, Chief Revenue Officer at Alteryx. “These outstanding organizations exemplify innovation and excellence, redefining how businesses utilize analytics and AI to overcome complex challenges. Their commitment to advancing data-driven strategies underscores the critical role intelligent decision-making plays in shaping the future of business. At Alteryx, we celebrate their achievements and are inspired to continue driving innovation.”

    To learn more about Avaap’s data, analytics, and AI services, visit www.avaap.com.

    About Avaap
    Avaap is an industry-focused technology and data consulting firm, helping organizations transform with smarter, data-driven decisions. With deep expertise in analytics, change management, and ERP implementations, Avaap empowers clients to modernize systems, improve operations, and deliver measurable results. Headquartered in Columbus, Ohio, Avaap serves clients across higher education, government, and commercial sectors.

    The MIL Network –

    May 20, 2025

  • MIL-OSI China: China promotes high-quality development of sci-tech services sector

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

    BEIJING, May 19 — China has released an implementation guideline on accelerating the high-quality development of the science and technology services sector.

    The Ministry of Industry and Information Technology, the China Association for Science and Technology, and seven other government organs jointly issued the guideline.

    The guideline sets out goals to improve the development ecosystem, expand the scale and efficiency of the sector, accelerate the transformation and commercialization of scientific and technological achievements, and support the integrated development of sci-tech and industrial innovation.

    It calls for the sector’s comprehensive development, outlining specific tasks across key areas such as research and development, technology transfer and commercialization, business incubation, and technology promotion.

    It underlines the need to accelerate the transformation and upgrading of the sector, enhance innovation in science and technology services, deepen the integration of next-generation information technologies, and widen the application of advanced green technologies.

    It also calls for efforts to promote the high-end, smart, green, and integrated development of the sector.

    Efforts should be made to guide science and technology service institutions toward more specialized, market-oriented, and platform-based development, improve technology market policies, and establish a unified national platform for technology transactions, according to the guideline.

    The guideline also demands institutional innovation, increased policy support, enhanced statistical monitoring, and deeper international cooperation to improve the development environment for the sector. ■

    MIL OSI China News –

    May 20, 2025

  • MIL-OSI: Form 8.3 – [CRANEWARE PLC – 16 05 2025] – (CGAML)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY ASSET MANAGEMENT LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 CRANEWARE PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 16 MAY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 583,000 1.6464    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 583,000 1.6464    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY PURCHASE 5,000 2280p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 19 MAY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

    May 20, 2025

  • MIL-OSI Global: Tories get ghosted: new study shows dating app users are more likely to swipe right on Reform voters

    Source: The Conversation – UK – By Stuart J. Turnbull-Dugarte, Associate Professor in Quantitative Political Science, University of Southampton

    The Conservative party is in existential crisis over the electoral threat posed by Reform UK. But a recent experiment shows that not only is the new rightwing party usurping the old guard in the polls – it’s also eclipsing the Tories on the dating market.

    In recent local elections, Reform took control of ten councils in England, adding 677 councillors. The Conservatives, meanwhile, lost 674 councillors and control of 16 councils.

    Over on the love market, a recent study I co-authored shows people were more likely to swipe right (“like” or indicate interest) for a Reform voter than a Tory. While Reform voters had a 39% chance of a match, Conservatives had 35%.

    The parties of the left and centre had the highest match rates overall, with Labour supporters having a 52% chance of a match, Greens on 51% and Liberal Democrats on 49%.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    These results come from a behavioural experiment involving 2,000 people in Britain. We asked participants to evaluate online dating profiles to see how politics shapes a person’s chances of getting a match.

    Participants were shown AI-generated dating profiles — over 20,000 in total — and asked to swipe left (“dislike”) or right (“like”). The profiles varied randomly across characteristics like looks, ethnicity, job, hobbies and, most importantly, political affiliation.

    Some profiles expressed support for mainstream parties — Labour, Conservatives, Greens, Lib Dems as well as rightwing newcomer, Reform UK.

    What really stood out in the experiment was how much dating preferences followed political lines. People weren’t necessarily put off by more extreme views – but they were more likely to reject someone from the opposite side of the political spectrum.

    The politics of dating polarises. Conservative voters would rather date someone further to their right (Reform) and Labour voters would rather date someone further to their left (the Greens) than cross the Labour-Conservative divide in the centre.

    While people tend to prefer partners who vote for the same party as them, they also prefer partners who belong to the same left and right “camp”.

    You up? You Lib Dem?
    Shutterstock/r.classen

    Dating preferences were heavily split along the left-right divide, with leftwing voters 37% more likely to reject someone on the right than vice-versa. This explains, in part, why rightwing people are less popular on dating apps overall, compared with leftwing people.

    Given that the population of dating app users tends to be younger (and therefore less rightwing), the politics penalty is skewed against rightwing folks. In effect, the “number of fish in the sea” willing to date them is smaller than the number they themselves are willing to date.

    Men and women reacted largely in a similar way. There’s often talk of a gender divide in rightwing support – particularly among younger people. But we found no evidence that women were any more or less likely than men to swipe left on Reform UK supporters.

    So, the Conservatives are not only at risk of electoral annihilation thanks to the Reform threat. They’re also denying their supporters dates. In a dating world shaped more by political alignment than ideological distance, the chances of success depend less on what someone believes — and more on which side they’re on.

    Stuart J. Turnbull-Dugarte receives funding from the British Academy.

    – ref. Tories get ghosted: new study shows dating app users are more likely to swipe right on Reform voters – https://theconversation.com/tories-get-ghosted-new-study-shows-dating-app-users-are-more-likely-to-swipe-right-on-reform-voters-256824

    MIL OSI – Global Reports –

    May 20, 2025

  • MIL-OSI Global: How aid cuts could make vulnerable communities even less resilient to climate change

    Source: The Conversation – UK – By Kalle Hirvonen, Senior Research Fellow, International Food Policy Research Insitute; Research Fellow, UNU-WIDER, United Nations University

    An irrigation project in Mozambique. Marcos Villalta / Save the Children, CC BY-NC-ND

    As global temperatures rise and climate-related disasters become more frequent, the need to adapt is rapidly increasing. That need for adaptation – from adjusting farming practices to diversifying livelihoods and strengthening infrastructure – is most acute in vulnerable low- and middle-income countries such as Bangladesh, Ethiopia, Haiti and Vietnam.

    Despite contributing a negligible share of historical global greenhouse gas emissions, these countries are facing the brunt of climate change. Yet as the demand for long-term resilience grows, international aid priorities are shifting in the opposite direction.

    Over the past three years, several major rich countries have substantially cut their development aid budgets. Remaining funds have been redirected towards emergency relief.

    This shift could undermine the climate finance commitments made by wealthy countries to mobilise US$300 billion (£228 billion) a year for climate action in the most vulnerable low- and middle-income countries by 2035.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Emergency aid, while vital for saving lives during crises such as droughts and floods, is reactive by nature. It arrives only after disaster has struck, often with a substantial delay.

    By contrast, climate adaptation is proactive. It focuses on anticipating future risks and helping communities prepare for changing environments.

    A key part of this is supporting transitions away from sectors like crop agriculture that are particularly vulnerable to climate-related shocks. In some cases, adapting to a changing climate may also require helping families move safely — turning relocation into a choice rather than a last resort.

    In Ethiopia, one of the world’s most drought-prone countries, a US government-funded food security programme aimed to strengthen resilience by offering livelihood training, organising savings groups and providing a US$200 lump sum to poor rural households. Research shows that this programme improved food security and protected assets during periods of drought.

    Livestock farming in the Somali region of Ethiopia which was severely affected by droughts in 2011.
    Malini Morzaria/EUECHO, CC BY-NC-ND

    In Nicaragua, families who received cash transfers alongside vocational training or investment grants were better protected against drought shocks than those relying on cash alone. These households could supplement farming with other income sources. This made them less vulnerable to drought-related losses and helped stabilise their earnings throughout the year.

    These schemes are known as “cash-plus programmes”. They help create the conditions for households to adapt and thrive. But when climate and environmental shocks overwhelm the resilience of local communities, relocation may still become the only viable option.

    That’s why proactive adaptation efforts need to be scaled up and broadened — not only to meet immediate needs but to support longer-term transitions. This includes investing in sustainable livelihoods through diversified income sources, skills training and, when necessary, enabling safe and voluntary relocation.

    Some pilot interventions that supported seasonal rural-to-urban migration have shown what’s possible. In Bangladesh, a small migration subsidy of just US$8.50 helped the participating poor farm households affected by seasonal famine cover travel costs.

    Migration for temporary work increased by 22%, and families back home experienced improvements in food security. With even modest support, people were able to access job opportunities in cities and strengthen their resilience.

    Programmes that make it easier for people to choose to move from rural areas to cities could help families move with dignity rather than in desperation. However, scaling up such initiatives successfully remains a challenge, requiring strong political commitment and effective governance.

    Climate relocation

    Without proactive planning and support, migration often happens out of necessity rather than choice. This kind of displacement typically occurs within national borders rather than across continents — contrary to popular narratives.

    In fact, 59% of the world’s forcibly displaced population live within their own country. By the end of 2023, a record 75.9 million people across 116 countries were internally displaced — a 51% increase over the previous five years, driven in part by climate change.

    A family leave their home in Oklahoma, US, as a result of the 1930s dust bowl disaster.
    Dorothea Lange/Library of Congress, Farm Security Administration/Office of War Information.

    History provides sobering lessons about relocation triggered by environmental collapse. In the 1930s, a severe drought and dust storms struck the Great Plains in the US, creating the “dust bowl”. This devastated farmland and forced millions of people to leave their homes, as economic hardship became widespread and the land so degraded that crops wouldn’t grow.

    Today, similar patterns loom as droughts, floods and rising seas threaten livelihoods around the world. Small island states such as Tuvalu face existential threats from rising sea levels, with entire communities at risk of being displaced.

    These mounting threats underscore a hard truth: the window for effective climate adaptation is rapidly closing. As climate disruptions intensify, the case for long-term investment in resilience has never been clearer. Without proactive adaptation, the cycle of crisis and response will only deepen.

    Societies can adapt, but doing so takes foresight, investment and courage. In the face of escalating climate risks, bold, forward-looking policies are not a luxury — they are a necessity. By supporting longer-term strategies, rich-country governments and aid charities can enable vulnerable communities to withstand, adapt and, when necessary, move with dignity.

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

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 45,000+ readers who’ve subscribed so far.

    Kalle Hirvonen’s recent and ongoing research has been funded by the CGIAR Trust Fund (https://www.cgiar.org/funders/), the United States Agency for International Development (USAID), the U.S. National Institutes of Health (NIH) and the Ministry for Foreign Affairs of Finland.

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

    – ref. How aid cuts could make vulnerable communities even less resilient to climate change – https://theconversation.com/how-aid-cuts-could-make-vulnerable-communities-even-less-resilient-to-climate-change-255358

    MIL OSI – Global Reports –

    May 20, 2025

  • MIL-OSI USA: Prepared Remarks Before SEC Speaks

    Source: Securities and Exchange Commission

    Thank you, Cicely, for your kind introduction. Ladies and gentlemen, I am very happy to be with you at my first SEC Speaks conference as SEC Chairman, though I have been a regular at this event over the past 15 years or so.[1] 

    The event has experienced some rather precipitous fits and starts over the past couple of years, and I shall make sure that it stays on track as valuable, comprehensive public outreach by the agency. 

    I extend my thanks to the folks at the Practising Law Institute for organizing the conference. I would also like to thank:

    • The SEC staff who have the annual opportunity to talk a little bit publicly about their work over the past year and discuss some of the things that they expect to come in the next few months,
    • The commentators taking part on the various panels who can pose questions and make observations that can help to focus the discussion on critical topics and perspectives that might not be top of mind to those of us within the halls of the SEC,
    • You here live in the audience where you have a chance to meet each other and talk to panelists, and
    • You viewing online who have a convenient opportunity to participate virtually.  

    Innovation and the SEC

    Today I intend to discuss innovation. In particular, about how the Securities and Exchange Commission should not fear innovation. Rather, it should embrace and champion it.

    Markets, by their nature, evolve. They are dynamic because they are made up of human beings. When human beings encounter problems, they innovate to solve them because there is a demand — and there are rewards — for solutions. In a free society, human nature rises to the occasion with inventiveness and competitive spirit, plus Adam Smith’s invisible hand to provide incentives beyond mere altruism. All of that is a good thing.  

    Over the decades, including during my time as a Commissioner from 2002 to 2008 and before that on the staff of two SEC chairmen, the SEC has both enabled innovation and, unfortunately at times, stifled it. Fortunately, innovation — in other words, progress — eventually won the day. Let me take a few moments to revisit some recent history. 

    In the late 1960s, there was a big, beautiful bull market. Trading volume doubled to some 12 million shares a day — which I realize sounds quaint today — overwhelming the paper-based clearance and settlement systems and transfer agent duties. Efficiency began to deteriorate as rising stacks of paper stock certificates had to be physically delivered by clerks trundling carts carrying boxes of those paper certificates to and from various broker-dealers up and down Wall Street and in other financial districts all across America. Investors paid the price for this inefficiency as securities were misplaced, misdirected, lost, or delivered late. Fails ballooned and many inadequately capitalized broker-dealers were caught by that whiplash of scuttled transactions. As a Band-Aid, trading times each day were reduced and exchanges eventually closed on Wednesdays to allow firms time to process the mountains of certificates. At times, the New York Stock Exchange closed two days in a week to catch up on the paperwork.

    The breakdown over an antiquated system became known as the “Paperwork Crisis.”

    As William Dentzer, the first CEO of the Depository Trust Company, or DTC, put it: “The paperwork crisis caused the post-trade processing of hundreds of millions of dollars to be delayed or to fail entirely, dividends to investors to be misdirected, and brokerage firms to go bust.”[2]

    Very much to its credit, the SEC at the time was proactive. It was clear that what needed to be done was to move to electronic transactions and book-entry. But how would we get there? The agency constructively held roundtables and engaged with industry. It used its rulemaking authority and powers of persuasion to allow for new ways of back-office processing of trades and other efficiencies tied to information technology. As a result of that collaboration between the SEC and market participants, the DTC was eventually established as an industry co-operative, later becoming the Depository Trust & Clearing Corporation. The computerization of securities was born with the SEC very much at the forefront of advancing that effort.

    As things go, that late 1960s bull market was inevitably followed by a severe, long-lived bear market. Many broker-dealers went out of business because of the crushing downturn in revenues, rather than inadequate back-office capacity as in the preceding bull market. The SEC worked with Congress and the securities industry to enact the Securities Investor Protection Act in 1970. That law established the Securities Investor Protection Corporation, an industry-backed insurance fund to protect investors from losses in the event their broker fails. It was a positive innovation for investors in which the SEC played a significant role.

    In the late 1980s and early 1990s, the American Stock Exchange and other organizations had come up with a creative response to the SEC’s identification of program trading of index stocks as a contributor to the 1987 market break. They proposed an instrument for trading a basket of stocks — “SPIDERS” — the S&P Depository Receipts, which is a basket of equities traded as a fund.  It was the earliest exchange-traded fund, or ETF. But, the proposal languished at the Commission for several years, as the Divisions at the time raised various issues with this new fund. In no uncertain terms, Chairman Richard Breeden demanded that the Division heads “figure it out”[3] and gave them a limited amount of time to do so. He was emphatic about getting it done right away. And the SEC did. The SPDR launched in 1993. Some at the SEC were worried whether the market would accept this innovation. In fact, it took some effort by the sponsoring firms to persuade institutions to purchase the product. But, it grew to $1 billion in three years. Chairman Breeden’s view was, let the market decide; we cannot be the arbiter. I think we can all agree that the innovation of SPDRs and ETFs has been a boon for investors. 

    During Arthur Levitt’s tenure as chairman in the mid-to-late 1990s, proprietary trading systems took off in popularity, controversially drawing trading off-exchange. Chairman Levitt believed that the SEC needed to provide regulatory flexibility for the electronic markets to be able to innovate. So, Regulation Alternative Trading Systems, or “Reg ATS,” adopted in 1999, allowed for ATSs to be regulated like broker-dealers, rather than exchanges. 

    As we moved to a new century, the market came up with another innovation: the gold fund, the first commodity ETF. This concept had been internally bouncing around the Divisions like a pinball and across town to the Commodity Futures Trading Commission. Although it took a while, innovation prevailed, and investors gained the option to invest in gold without physically owning it.

    Crypto Innovation

    This brings me to today. The crypto markets have been languishing in SEC limbo for years.

    Initially, the SEC first pursued what I call the “head-in-the-sand” approach — perhaps hoping that crypto would go away. Then, it pivoted and pursued a shoot-first-and-ask-questions-later approach of regulation through enforcement. The “just come in to visit” entreaty often meant coming home to a subpoena. It seemed like a catch-22 for market participants. This environment did not create trust. In reality, the message was, “You go figure it out.” That is a fine approach if the regulator plays an active role in interacting with the marketplace to encourage solutions and adapt existing rules and practices if the existing approaches are inapposite to new developments in technology. Old ways of doing things should not be immutable, especially if Congress has granted an agency discretion to make changes consistent with Congressional intent and in the public interest. While the SEC must be faithful to its statutes in any effort to be innovative, it should use its available authority and discretion to adapt to and accommodate new developments.

    The SEC’s claim at the time that it was willing to talk to prospective registrants proved ephemeral at best because the SEC made no adaptations to registration forms or other regulatory requirements to accommodate this new technology. I have been told that market participants would in good faith enter what they thought were policy meetings with Commission staff only to receive enforcement inquiries shortly after their meeting. If that culture were not bad enough, SEC leadership for too long prevented staff from communicating with market participants when complicated legal questions arose. I am pleased to announce that I recently directed Division of Corporation Finance staff to maintain transparent interactions with the public. When staff is allowed to talk openly with industry, market participants can move more nimbly and allocate capital to productive uses. 

    It is a new day at the SEC. While I have directed Commission staff across our policy Divisions to begin drafting rule proposals related to crypto, the staff continue to “clear the brush” through staff-level statements. For example, last week the staff of the Division of Trading and Markets issued a set of FAQs that addressed broker-dealer and transfer agent questions. While the views of the staff are not rules or regulations of the Commission, they can provide useful insights for the public.[4] Ultimately, the Commission is, of course, responsible and must itself squarely address these issues to ensure that the public has clear rules of the road. 

    Last, as I mentioned at a recent Crypto Task Force roundtable, I would like the Commission to allow SEC registrants to custody and trade both securities and non-securities under one roof. Enabling this reality could reduce costs for investors while allowing non-security trading to enter a regulated environment at the federal level expeditiously. This would be an initial step towards the possibility of eventually achieving a “super-app” reality. Thank you to Commissioner Hester Peirce, the Crypto Task Force, and Trading and Markets staff for their continued efforts.       

    FinHub

    In keeping with this theme of innovation and the progress of the Crypto Task Force, we have asked Congress for reprogramming approval to integrate the functions of the agency’s Strategic Hub for Innovation and Financial Technology, or “FinHub” into other parts of the agency.  

    Established in 2018, FinHub was created during a critical period of emerging technologies. The rapid development of distributed ledger technology, including digital assets, artificial intelligence, and machine learning, required a centralized effort to build understanding at the SEC. Unfortunately, FinHub over time came to be perceived by many in the digital asset industry as a tool for enforcement rather than a tool to foster innovation. Moreover, as currently constituted, FinHub is too small to be viable and efficient, and this staff expertise can be better utilized elsewhere in the agency.

    The principles and priorities under which FinHub was founded are being integrated into the very fabric of the SEC. I will ensure that innovation will be ingrained in the culture SEC-wide, as it should be, and not focused on one small office.

    Investing in Private Funds

    Financial innovation sometimes means getting out of the way of capital formation and allowing all investors to gain the benefits of our robust markets.

    Since 2002, the SEC staff has taken the position that closed-end funds investing 15% or more of their assets in private funds should impose a minimum initial investment requirement of $25,000 and restrict sales to investors that satisfy the accredited investor standard.  As a result, many retail investors have missed out on opportunities to invest in closed-end funds that invest in private investment funds, like hedge funds and private equity funds.

    Much has changed since 2002 — including the growth of private markets and the increased oversight and enhanced reporting by both private fund advisers and registered funds. Indeed, in the last 10 years alone, private fund assets have almost tripled from $11.6 trillion to $30.9 trillion.[5]  Allowing this option could increase investment opportunities for retail investors seeking to diversify their investment allocation in line with their investment time horizon and risk tolerance.

    With this in mind, I intend to have the Commission address this situation and reconsider this 23-year-old practice concerning investments by closed-end funds in private funds. This common-sense approach will give all investors the ability to seek exposure to a growing and important asset class, while still providing the investor protections afforded to registered funds. We must consider and resolve important disclosure issues for these products, particularly for those that trade on exchanges, including conflicts of interest, illiquidity, and fees.

    CAT

    Before I close, I want to mention a topic that has drawn significant scrutiny, the Consolidated Audit Trail, known by the innocuous-sounding nickname “CAT.” This particular “CAT” has quite an appetite for data and computer power, with costs rising to nearly $250 million a year. These costs are divvied up and eventually, one way or another, fall on the shoulders of investors. The financial services industry and Congress have rightly pushed back on the seemingly endless cost increases and the risks of storing so much sensitive data together. Much of the increases are due to changing demands for information and access.

    Therefore, I have instructed the staff to undertake a comprehensive review of the CAT. In addition to examining the costs of the system, I would like to see the staff take a hard look at the reporting requirements and scope of what is collected. I look forward to the agency engaging with the public on this important issue.

    Conclusion

    As I begin my tenure as Chairman, I can tell you that we are getting back to our roots of promoting, rather than stifling, innovation. The markets innovate, and the SEC should not be in the business of telling them to stand still.

    It is a new day at the SEC, and I look forward to what we are going to be able to accomplish for investors and the markets.

    Thank you.

    [1] These remarks reflect my individual views as Chairman of the Commission and do not necessarily reflect the views of the Commission or my fellow Commissioners.

    [4] See 17 C.F.R. § 202.1(d).  Staff statements represent the views of the respective office or division; they are not rules, regulations, or statements of the Commission.  Further, the Commission neither approves nor disapproves their content.  Staff statements have no legal force or effect: they do not alter or amend applicable law, and they create no new or additional obligations for any person.

    MIL OSI USA News –

    May 20, 2025

  • MIL-OSI: Hyra Holdings Approves $500M Venture Fund and IPO Roadmap to 2030 at 2025 Annual Meeting

    Source: GlobeNewswire (MIL-OSI)

    HANOI, Vietnam, May 19, 2025 (GLOBE NEWSWIRE) — Hyra Holdings, a global technology investment group, today announced the formal approval of the Hyra Combinator Fund, a $500 million venture initiative aimed at accelerating innovation in AI, fintech, and post-quantum security. The decision was made at the company’s 2025 Annual General Meeting (AGM), where shareholders also reaffirmed the group’s IPO roadmap targeting 2030.

    These initiatives mark strategic milestones for Hyra Holdings as it expands its role as a catalyst for frontier innovation in emerging markets.

     

    The 2025 Annual General Meeting marks a strategic turning point in Hyra Holdings’ global expansion journey

    Hyra Combinator Fund: Fueling Deeptech in Emerging Markets

    The Hyra Combinator Fund will operate under a blended capital model, pooling resources from Hyra Holdings, global VC firms, and public–private co-investment platforms. By 2030, the fund aims to back over 150 high-potential startups working in:

    • Decentralized AI infrastructure
    • Next-generation fintech and digital banking
    • Post-quantum cryptography and cybersecurity

    “We’re not just allocating capital—we’re building deep, long-term innovation infrastructure in regions where it’s most needed,” said Chung Tran, Founder & Chairman of Hyra Holdings.

    Shark Pham Thanh Hung Joins as Independent Board Member

    At the AGM, Hyra Holdings also welcomed Mr. Pham Thanh Hung (Shark Hung) as an Independent Board Member, reinforcing the company’s commitment to good corporate governance and strategic capital alignment.

    “My role is to provide independent oversight, promote transparency, and help connect Hyra with domestic and international investment partners. Hyra’s vision in decentralized AI and post-quantum security is both timely and globally relevant,” said Mr. Pham Thanh Hung. 

    IPO Roadmap and Hybrid Holding Model

    Although still a private company, Hyra Holdings has adopted an IPO-ready structure aligned with international standards. The group operates under a Hybrid Holding Model—centralized strategic direction at the parent level with decentralized execution through its product companies.

    The IPO roadmap includes potential listings in Singapore, Dubai, and the United States, with targets for 2030 including:

    • Launch of 9 flagship technology products
    • Expansion into 30+ international markets
    • Development of a decentralized compute infrastructure exceeding 1 billion TFLOPS

    About Hyra Holdings

    Hyra Holdings is a global innovation group founded in 2021 and headquartered in Vietnam, with operations across Southeast Asia, the Middle East, and the United States. The company invests in and builds foundational technologies in decentralized AI, Layer-3 blockchain, fintech, and post-quantum security, combining venture capital strategy with product ecosystem development to enable inclusive and sustainable innovation at scale.

    Media Contact
    Website: https://hyraholdings.com
    Email: press@hyraholdings.com
    LinkedIn: https://linkedin.com/company/hyraholdings

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/d4b2fc09-0e34-4ee7-9c64-bc15fab22f11
    https://www.globenewswire.com/NewsRoom/AttachmentNg/bb9df965-4a79-4a07-a322-821f0112fd53

    The MIL Network –

    May 20, 2025

  • MIL-OSI: Duck Creek Technologies Announces Tyler Jones as Chief Marketing Officer

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, May 19, 2025 (GLOBE NEWSWIRE) — Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces the appointment of Tyler Jones as Chief Marketing Officer (CMO). As CMO, Jones will be responsible for overseeing Duck Creek’s strategic marketing and branding efforts, driving the company’s global expansion and leadership as a provider of P&C insurance software and services.

    “Tyler is a seasoned marketer and leader who understands how to deliver value to our customers and partner ecosystem,” said Mike Jackowski, Chief Executive Officer of Duck Creek Technologies. “He has a wealth of experience building and scaling world-class marketing organizations for cloud-based software companies. I am thrilled to welcome him to the Duck Creek team and look forward to working with him to accelerate our growth and expand our market leadership.”

    With over two decades of experience at the intersection of technology, insurance, and customer experience, Tyler joins Duck Creek from CLARA Analytics, where he led growth initiatives and commercial partnership programs that drive the adoption of AI-powered solutions.

    “I am honored and excited to join Duck Creek at this pivotal time in the insurance industry,” said Tyler Jones. “Duck Creek is a visionary company that is transforming the way insurers operate and serve their customers. I am impressed by the company’s culture, products, and customer-centric approach. I look forward to collaborating with the talented Duck Creek team and partners to amplify our brand, engage our audiences, and drive business outcomes.”

    Tyler held pivotal roles at Kaiser Permanente and AIG, where he spearheaded large-scale digital transformations. At Kaiser Permanente, he led a $250 million multiyear overhaul of the revenue cycle and consumer medical billing systems. As Global Head of Data Strategy at AIG, he focused on leveraging data to inform strategic decisions and enhance customer experiences.

    At CLARA Analytics, Tyler continued to drive customer-centric strategies, ensuring that clients achieved optimal value from the company’s AI platform. His leadership was instrumental in CLARA’s mission to deliver compelling ROI to customers within months of implementation.

    Jones holds an undergraduate degree in marketing from the University of Utah and a Master of Business Administration from the UCLA Anderson School of Management.

    About Duck Creek Technologies 
    Duck Creek Technologies is the global intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.

    Media Contacts: 
    Marianne Dempsey/Tara Stred
    duckcreek@threeringsinc.com 

    The MIL Network –

    May 20, 2025

  • MIL-OSI: BIO-key and Cloud Distribution Co. Partner to Expand IAM and Biometric Security Solutions Across the Middle East

    Source: GlobeNewswire (MIL-OSI)

    WALL, N.J. and RIYADH, Saudi Arabia, May 19, 2025 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI), a global leader in Identity and Access Management (IAM) and biometric authentication solutions, is pleased to announce a strategic partnership with Cloud Distribution Co., a prominent Value-Added Distributor (VAD) headquartered in Saudi Arabia, with operations across the Middle East. Cloud Distribution joins BIO-key’s Channel Alliance Partner (CAP) program to deliver BIO-key’s full suite of IAM and biometric authentication solutions to enterprises and public institutions in Saudi Arabia, the UAE, and across the region. This partnership strengthens BIO-key’s local capabilities while enabling Cloud Distribution to expand its cybersecurity portfolio with innovative, high-impact identity technologies.

    As part of this strategic collaboration, Cloud Distribution Co. has committed dedicated in-country resources to support BIO-key’s expansion in the region. A Pre-Sales Engineer, a Business Development Manager (BDM), and a Project Manager—based in Riyadh—will be part of Cloud Distribution’s team fully focused on BIO-key. This investment reflects Cloud Distribution’s clear bet on BIO-key’s growth and long-term value in the Middle East market, ensuring local expertise, responsive support, and successful deployments.

    Cloud Distribution will lead sales enablement, partner development, and technical execution for the following BIO-key technologies:

    • PortalGuard® – a comprehensive IAM platform supporting MFA, SSO, and centralized access management
    • Passkey:YOU™ – a FIDO2-compliant passwordless solution
    • PIN:You™ – a secure, tokenless, user-friendly PIN-based authentication method
    • WEB-key – a proven biometric engine for strong authentication
    • Identity-Bound Biometrics (IBB) – binding access to the individual, not the device
    • Certified biometric scanners including PIV-Pro and EcoID II

    “We are proud to partner with BIO-key and bring their cutting-edge identity and biometric authentication solutions to our growing portfolio. At Cloud Distribution, we prioritise cybersecurity technologies that address modern threats with innovation and scalability. Our investment in local resources dedicated to BIO-key reflects our belief in their vision and our commitment to delivering value across the region,” said Thamer Abdallah, CEO & Founder of Cloud Distribution Co.

    “Our partnership with Cloud Distribution reflects our dedication to the Middle East—not only through innovative solutions but also through strategic alliances with partners who share our vision. The addition of dedicated Cloud Distribution resources for BIO-key in Riyadh is a smart and impactful move that ensures we remain close to our customers and ready to scale,” said Alex Rocha, International Managing Director at BIO-key.

    About Cloud Distribution Co. (https://dcloud.com.sa)
    Cloud Distribution Co., part of the Ideal Group, is a leading Saudi-based Value-Added Distributor of cybersecurity and infrastructure solutions across the Middle East. Known for its deep technical expertise, local presence, and focus on innovation, Cloud Distribution supports its partner network with best-in-class technologies and services that drive secure digital transformation.

    About BIO-key International, Inc. (www.BIO-key.com)
    BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its cloud-hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.

    BIO-key Safe Harbor Statement
    All statements contained in this press release other than statements of historical facts are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). The words “estimate,” “project,” “intends,” “expects,” “anticipates,” “believes” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbor” provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Investor Contacts
    William Jones, David Collins
    Catalyst IR
    BKYI@catalyst-ir.com or 212-924-9800

    The MIL Network –

    May 20, 2025

  • MIL-OSI: 180 Degree Capital Corp. Issues Q1 2025 Shareholder Letter

    Source: GlobeNewswire (MIL-OSI)

    MONTCLAIR, N.J., May 19, 2025 (GLOBE NEWSWIRE) — 180 Degree Capital Corp. (NASDAQ:TURN) today issued the following Q1 2025 Shareholder Letter:

    Fellow Shareholders,

    As discussed in our press release issued on April 14, 2025, we ended the first quarter of 2025 with a net asset value per share (“NAV”) of $4.42. We are pleased with our performance in Q1 2025, that we believe favorably positions 180 Degree Capital as we continue to make progress on the steps required to complete our proposed Business Combination with Mount Logan Capital Inc. (“Mount Logan”). For those of you who may not have had a chance to listen to our joint call with the team from Mount Logan or to review the presentation deck that summarizes the proposed transaction, both can be found at https://ir.180degreecapital.com/ir-calendar/detail/2908/180-degree-capital-and-mount-logan-capital-proposed-merger. Our excitement for the potential of this transaction to create value for our shareholders has only grown since we announced this proposed Business Combination and conducted this joint call.

    We noted in a press release issued on May 7, 2025, that we filed an amended preliminary joint proxy statement/prospectus on Schedule 14A with the Securities and Exchange Commission (“SEC”) regarding our proposed Business Combination with Mount Logan includes Mount Logan’s financial statements which were prepared in accordance with accounting principles generally accepted in the US, or US GAAP. The conversion of Mount Logan’s financial statements from International Financial Reporting Standards, or IFRS, to US GAAP is an important milestone as now we are in a position to be able to speak freely with current and potential investors regarding historical financial performance and apples-to-apples comparisons of Mount Logan to its publicly traded peers. This conversion to US GAAP also resulted in favorable improvements in historical financial metrics, including an increase in Mount Logan’s reported fee-related earnings in 2024 under IFRS to approximately $9.1 million under US GAAP, and an increase in the reported shareholder equity value of Mount Logan as of December 31, 2024, under IFRS to approximately $104.1 million under US GAAP.

    We believe that the availability of Mount Logan’s US GAAP financial statements will add to the strong indications of support we have received from initial conversations with our shareholders following the filing of our initial joint proxy statement/prospectus in late March 2025. We believe our investors who have signed voting agreements and/or provided indications of support already understood the potential that we believe exists to create significant value for shareholders of 180 Degree Capital through this Business Combination even before Mount Logan’s US GAAP financial statements were available. We appreciate all of this support and patience as we move steadily through the SEC review process, toward the start of soliciting votes, and the ultimate goal of the completion of our proposed Business Combination.

    As mentioned earlier, our belief about the potential of our proposed Business Combination to create significant shareholder value for 180 Degree Capital shareholders has only grown stronger since our initial announcement in January 2025. This belief is amplified by numerous significant shareholders who have voiced their support for our proposed Business Combination to us, as well as new shareholders who were drawn to invest in 180 Degree Capital based on what we believe to be a shared view that our proposed Business Combination is a unique opportunity for future value creation. We continue to believe that converting to an operating company will make 180 Degree Capital’s net asset value a floor for our stock price rather than the ceiling as it is for most closed-end funds. The pro forma combination of our businesses, based on 180 Degree Capital’s net asset value and Mount Logan’s equity value, respectively as of December 31, 2024, less estimated merger-related expenses and other estimated adjustments, yields a combined entity with an estimated shareholder equity value of nearly $140 million. While the ultimate ratio of ownership between 180 Degree Capital and Mount Logan shareholders will be based on 180 Degree Capital’s net asset value at closing of the Business Combination, if the transaction closed on December 31, 2024, the portion of this equity value ascribed to 180 Degree Capital shareholders would equate to more than 180 Degree Capital’s net asset value as of that date. This fact is only one of the multitude of reasons we are so excited about this proposed transaction and its potential opportunity to create meaningful value for 180 Degree Capital’s shareholders.

    To remind everyone of our original views and comments included in our Q4 2024 Shareholder Letter issued on February 14, 2025, Mount Logan has the following attributes that we believe will provide value to 180 Degree Capital shareholders:

    • Mount Logan has what we believe to be an outstanding management team comprised of its CEO, Ted Goldthorpe, its Co-Presidents, Matthias Ederer and Henry Wang, and its CFO, Nikita Klassen;
    • Mount Logan’s asset management platform has approximately $2.4+ billion of assets under management (as of September 30, 2024) that we believe generates predictable fee revenue that can be used to benefit the growth of the combined company and its shareholders;
    • Mount Logan has operational leverage and unique investment access through its association with BC Partners, a leading global private equity and credit firm;
    • Mount Logan is focused on what we believe is the fast-growing market of private credit;
    • We believe that Mount Logan remains undiscovered by the majority of investors due to it being listed on the Cboe Canada exchange rather than a US national exchange; and
    • We believe Mount Logan is significantly undervalued by public market investors.

    For 35 years, I have been a value investor attempting to uncover great companies that I believe are trading below their intrinsic value. As we spent more time with Ted and his colleagues over the past 10 months, it became abundantly clear to us that: 1) we believe Mount Logan is one of these great undiscovered and undervalued companies and 2) the combination of our two companies has the potential to unlock substantial value for 180 Degree Capital shareholders by:

    1. Providing a path to a combined entity that, based on combined shareholder equity as of December 31, 2024, and an estimated distribution of ownership as of the date of the announcement of the Business Combination, would result in 180 Degree Capital shareholder’s portion of the combined shareholder equity being higher than our NAV as of the date of signing of the definitive agreement on January 16, 2025, and as of March 31, 2025.

      For those of our investors who feel more comfortable assessing value based on net asset value/book value, we note that publicly traded comparable companies to what would be our combined company often trade at multiples of book value rather than discounts. For those investors who are comfortable or more interested in valuing based on operating company metrics, we believe the valuation of our combined business will be based on a multiple of fee-related revenues attributed to earnings from the management of permanent and semi-permanent capital vehicles. Other similar businesses commonly trade at significantly higher multiples of operating metrics than the multiple implied by the value of Mount Logan set by the terms of our proposed Business Combination.

    2. Changing to an asset-light operating company that leverages an association with BC Partners enables economies of scale that are not possible at 180 Degree Capital’s current size; and
    3. Substantially increasing the available capital for us to be able to leverage our relationships with small and microcapitalization public companies, to develop capital structure solutions that seek to unlock value and generate favorable risk-adjusted returns.

    As the table below shows, we believe our shareholders have benefited from our ability to generate positive returns on our investments since we took over management of 180 Degree Capital. These returns were offset by material declines in the legacy private portfolio that we inherited.

    Public Portfolio
    Contribution to Change in NAV
    (Q4 2016-Q1 2025)    		 Legacy Private Portfolio
    Contribution to Change in NAV
    (Q4 2016-Q1 2025)
    +$3.35/share -$2.41/share
      TURN Public Portfolio Gross Total (Excluding SMA Carried Interest) TURN Public Portfolio Gross Total (Including SMA Carried Interest) Change in NAV Change in Stock Price Russell Microcap Index Lipper Peer Group Average
    Inception to Date
    Q4 2016 – Q1 2025    		 +198.7% +218.3% -37.0% -4.1% +44.3% +66.1%

    On a relative basis, our gross total return for Q1 2025 of +4.5% compares favorably to the –14.4% total return for the Russell Microcap Index.1 The difference between our gross total return and our net total return, or change in NAV, of -4.7% to $4.42 as of March 31, 2025, was primarily the result of expenses related to our Business Combination, including almost $300,000 in additional professional fees resulting from the public efforts to derail our proposed Business Combination. Our day-to-day operating expenses declined by over 30% from Q1 2024.

    Public Portfolio Performance in Q1 2025

    The slide below shows the basis for our investment performance in Q1 2025:

    Ticker Symbol Shares Owned @ 12/31/24 Net Shares Purchased (Sold) During Quarter Shares Owned @ 3/31/25 Value @ 12/31/24 Cash (Invested) Received from Sales / Dividends Value @ 3/31/25 Value + Cash Received Total Q/Q Net Change % Change
    ACNT 377,750 (10,890) 366,860 $4,223,245 $133,731 $4,644,448 $4,778,179 $554,934 13.1%
    AREN 992,992 0 992,992 $1,330,609 $0 $1,717,876 $1,717,876 $387,267 29.1%
    AVNW 0 10,200 10,200 $0 ($210,768) $195,534 $195,534 ($15,234) (7.2%)
    BCOV 1,053,580 (1,053,580) 0 $4,583,073 $4,688,431 $0 $4,688,431 $105,358 2.3%
    CVGI 410,000 0 410,000 $1,016,800 $0 $471,500 $471,500 ($545,300) (53.6%)
    IVAC 1,046,597 (1,046,597) 0 $3,558,430 $4,293,141 $0 $4,293,141 $734,711 20.6%
    LTRX 656,139 12,572 668,711 $2,703,293 ($34,949) $1,665,090 $1,665,090 ($1,073,151) (39.2%)
    MAMA 0 20,000 20,000 $0 ($122,552) $130,200 $130,200 $7,648 6.2%
    PBPB 1,091,206 0 1,091,206 $10,279,161 $0 $10,377,369 $10,377,369 $98,209 1.0%
    PBPB/WS 80,605 0 80,605 $351,558 $0 $327,256 $327,256 ($24,301) (6.9%)
    RFIL 472,506 0 472,506 $1,847,498 $0 $2,216,053 $2,216,053 $368,555 19.9%
    SCOR 400,451 0 400,451 $2,338,634 $0 $2,751,098 $2,751,098 $412,465 17.6%
    SNCR 854,788 0 854,788 $8,205,965 $0 $9,308,641 $9,308,641 $1,102,677 13.4%
    SNCR-RS 12,000 12,000 24,000 $103,665 $0 $222,784 $222,784 $119,119 114.9%
    Total Other   $0 ($193,561) $185,350 $185,350 ($8,211) (4.2%)
    Total Public Portfolio $40,541,931 $8,553,473 $34,213,199 $43,328,502 $2,224,746  
    Public Portfolio Gross Total Return (Excluding Carried Interest from SMA) 4.5%
    Public Portfolio Gross Total Return (Including Carried Interest from SMA) 4.5%

    I, as the largest individual shareholder of 180 Degree Capital, and Daniel as a top-ten shareholder, could not be more excited about the future of the combined entity. We are not the only ones who understand the potential for value creation from this Business Combination. Some of our largest shareholders have signed either voting agreements or non-binding indications of support, that when combined with ownership of management and the board, account for approximately 27% of our outstanding shares in the aggregate. We appreciate the time and consideration these shareholders spent to understand the merits of this proposed Business Combination and their support for it. We also appreciate the time and interest of new shareholders who have become interested in 180 Degree Capital’s common stock because of the proposed Business Combination.

    We believe the proposed Business Combination to be the best opportunity to build value for all shareholders of 180 Degree Capital. We believe strongly in its future under the leadership of Ted and his colleagues. I have been an investor in the public markets for 35 years, during which time investors entrusted me with billions of dollars of capital. We are interested in building true value for shareholders over the short and long term. We believe this combination achieves both of these objectives. We look forward to discussing these updates to our preliminary joint proxy statement/prospectus and to having robust conversations with all of our current and potential future shareholders. Feel free to reach out to us at any time and thank you, as always, for your support.

    All the best,

    Kevin M. Rendino
    Chairman and Chief Executive Officer

    The table below summarizes 180 Degree Capital’s performance over periods of time through the end of Q1 20251:

      Quarter 1 Year 5 Year Inception to Date
      Q1 2025 Q1 2024- Q1 2025 Q1 2020- Q1 2025 Q4 2016- Q1 2025
    TURN Public Portfolio Gross Total Return
    (Excluding SMA Carried Interest)    		 4.5% 5.6% -6.8% 198.7%
    TURN Public Portfolio Gross Total Return
    (Including SMA Carried Interest)    		 4.5% 0.8% 43.8% 218.3%
             
    Change in NAV -4.7% -14.3% -30.5% -37.0%
             
    Change in Stock Price 8.2% -7.5% -2.6% -4.1%
             
    Russell Microcap Index -14.4% -7.0% 76.1% 44.3%
    Russell Microcap Growth Index -17.8% -5.0% 43.5% 29.6%
    Russell Microcap Value Index -11.3% -6.0% 106.7% 57.7%
    Russell 2000 Index -9.5% -4.0% 86.2% 65.3%
    Lipper Peer Group -10.1% -6.6% 113.2% 66.1%


    About 180 Degree Capital Corp.

    180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 Degree Capital and its holdings can be found on its website at www.180degreecapital.com.

    Press Contact:
    Daniel B. Wolfe
    Robert E. Bigelow
    180 Degree Capital Corp.
    973-746-4500
    ir@180degreecapital.com

    Additional Information and Where to Find It

    In connection with the proposed Business Combination, 180 Degree Capital intends to file with the SEC and mail to its shareholders a proxy statement on Schedule 14A (the “Proxy Statement”), containing a form of WHITE proxy card. In addition, the surviving Delaware corporation, Mount Logan Capital Inc. (“New Mount Logan”) plans to file with the SEC a registration statement on Form S-4 (the “Registration Statement”) that will register the exchange of New Mount Logan shares in the Business Combination and include the Proxy Statement and a prospectus of New Mount Logan (the “Prospectus”). The Proxy Statement and the Registration Statement (including the Prospectus) will each contain important information about 180 Degree Capital, Mount Logan, New Mount Logan, the Business Combination and related matters. SHAREHOLDERS OF 180 DEGREE CAPITAL AND MOUNT LOGAN ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS CONTAINED IN THE REGISTRATION STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE APPLICABLE SECURITIES REGULATORY AUTHORITIES AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT 180 DEGREE CAPITAL, MOUNT LOGAN, NEW MOUNT LOGAN, THE BUSINESS COMBINATION AND RELATED MATTERS. Investors and security holders may obtain copies of these documents and other documents filed with the applicable securities regulatory authorities free of charge through the website maintained by the SEC at https://www.sec.gov and the website maintained by the Canadian securities regulators at www.sedarplus.ca. Copies of the documents filed by 180 Degree Capital are also available free of charge by accessing 180 Degree Capital’s investor relations website at https://ir.180degreecapital.com.

    Certain Information Concerning the Participants

    180 Degree Capital, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the Business Combination. Information about 180 Degree Capital’s executive officers and directors is available in 180 Degree Capital’s Annual Report filed on Form N-CSR for the year ended December 31, 2024, which was filed with the SEC on February 14, 2025, and in its proxy statement for the 2024 Annual Meeting of Shareholders (“2024 Annual Meeting”), which was filed with the SEC on March 1, 2024. To the extent holdings by the directors and executive officers of 180 Degree Capital securities reported in the proxy statement for the 2024 Annual Meeting have changed, such changes have been or will be reflected on Statements of Change in Ownership on Forms 3, 4 or 5 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at https://www.sec.gov. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the 180 Degree Capital shareholders in connection with the Business Combination will be contained in the Proxy Statement when such document becomes available.

    Mount Logan, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Mount Logan in favor of the approval of the Business Combination. Information about Mount Logan’s executive officers and directors is available in Mount Logan’s annual information form dated March 13, 2025, available on its website at https://mountlogancapital.ca/investor-relations and on SEDAR+ at https://www.sedarplus.com. To the extent holdings by the directors and executive officers of Mount Logan securities reported in Mount Logan’s annual information form have changed, such changes have been or will be reflected on insider reports filed on SEDI at https://www.sedi.ca/sedi/. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the Mount Logan shareholders in connection with the Business Combination will be contained in the Prospectus included in the Registration Statement when such document becomes available.

    Non-Solicitation

    This letter and the materials accompanying it are not intended to be, and shall not constitute, an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

    Forward-Looking Statements

    This letter and the materials accompanying it, and oral statements made from time to time by representatives of 180 Degree Capital and Mount Logan, may contain statements of a forward-looking nature relating to future events within the meaning of federal securities laws. Forward-looking statements may be identified by words such as “anticipates,” “believes,” “could,” “continue,” “estimate,” “expects,” “intends,” “will,” “should,” “may,” “plan,” “predict,” “project,” “would,” “forecasts,” “seeks,” “future,” “proposes,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions). Forward-looking statements are not statements of historical fact and reflect Mount Logan’s and 180 Degree Capital’s current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the Business Combination involving Mount Logan and 180 Degree Capital, including future financial and operating results, Mount Logan’s and 180 Degree Capital’s plans, objectives, expectations and intentions, the expected timing and likelihood of completion of the Business Combination, and other statements that are not historical facts, including but not limited to future results of operations, projected cash flow and liquidity, business strategy, payment of dividends to shareholders of New Mount Logan, and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this press release will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the ability to obtain the requisite Mount Logan and 180 Degree Capital shareholder approvals; the risk that Mount Logan or 180 Degree Capital may be unable to obtain governmental and regulatory approvals required for the Business Combination (and the risk that such approvals may result in the imposition of conditions that could adversely affect New Mount Logan or the expected benefits of the Business Combination); the risk that an event, change or other circumstance could give rise to the termination of the Business Combination; the risk that a condition to closing of the Business Combination may not be satisfied; the risk of delays in completing the Business Combination; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the Business Combination may not be fully realized or may take longer to realize than expected; the risk that any announcement relating to the Business Combination could have adverse effects on the market price of Mount Logan’s common stock or 180 Degree Capital’s common stock; unexpected costs resulting from the Business Combination; the possibility that competing offers or acquisition proposals will be made; the risk of litigation related to the Business Combination; the risk that the credit ratings of New Mount Logan or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the Business Combination; the risk of adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Business Combination; competition, government regulation or other actions; the ability of management to execute its plans to meet its goals; risks associated with the evolving legal, regulatory and tax regimes; changes in economic, financial, political and regulatory conditions; natural and man-made disasters; civil unrest, pandemics, and conditions that may result from legislative, regulatory, trade and policy changes; and other risks inherent in Mount Logan’s and 180 Degree Capital’s businesses. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Readers should carefully review the statements set forth in the reports, which 180 Degree Capital has filed or will file from time to time with the SEC and Mount Logan has filed or will file from time to time on SEDAR+.

    Neither Mount Logan nor 180 Degree Capital undertakes any obligation, and expressly disclaims any obligation, to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Any discussion of past performance is not an indication of future results. Investing in financial markets involves a substantial degree of risk. Investors must be able to withstand a total loss of their investment. The information herein is believed to be reliable and has been obtained from sources believed to be reliable, but no representation or warranty is made, expressed or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of the information and opinions. The references and link to the website www.180degreecapital.com and mountlogancapital.ca have been provided as a convenience, and the information contained on such websites are not incorporated by reference into this press release. Neither 180 Degree Capital nor Mount Logan is responsible for the contents of third-party websites.

    1. Past performance is not an indication or guarantee of future performance. Gross unrealized and realized total returns of 180 Degree Capital’s cash and securities of publicly traded companies are compounded on a quarterly basis, and intra-quarter cash flows from investments in or proceeds received from privately held investments are treated as inflows or outflows of cash available to invest or withdrawn, respectively, for the purposes of this calculation. 180 Degree Capital is an internally managed registered closed-end fund that has a portion of its assets that are fair valued on a quarterly basis by the Valuation Committee of its Board of Directors, and 180 Degree Capital does not have an external manager that is paid fees based on assets and/or returns. Please see 180 Degree Capital’s filings with the SEC, including its 2024 Annual Report on Form N-CSR for information on its expenses and expense ratios.

    The MIL Network –

    May 20, 2025

  • MIL-OSI: Enphase Energy Launches IQ Energy Management Solution in France

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., May 19, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today introduced IQ® Energy Management that integrates with Enphase solar and battery systems to enable smart management of variable electricity rates and select third-party electric vehicle (EV) chargers, heat pumps, and resistive electric water heaters in France. Homeowners can save money and maximize self-consumption through artificial intelligence (AI)-driven management of key home energy appliances – all controlled from the Enphase® App.

    In France, electrification is booming, with EV deployments up 400% since 2020 and a goal to manufacture one million new heat pumps by 2027. Recent data also shows that approximately 40% of all homes in France – 15 million homes – use electric water heaters, which can represent up to 20% of a household’s energy consumption. The IQ Energy Management solution consists of the IQ® Energy Router™ suite of products which comes with a 5-year warranty in France and works with leading EV chargers, heat pumps, and resistive electric water heaters.

    “Enphase’s IQ Energy Management is a smart solution for managing key home appliances more efficiently,” said Ludovic Vallée, general manager at Sun7, an installer of Enphase products in France. “It helps our customers maximize their solar energy use by intelligently managing EV chargers, heat pumps, and water heaters, ultimately helping users lower their energy costs and boosting energy independence.”

    “As more homeowners in France turn to smart energy solutions, they’re looking for flexibility and savings,” said Kevin Arteaga, manager at SAS Les Panneaux Solaires, an installer of Enphase products in France. “IQ Energy Management with the IQ Energy Router gives them the tools to better manage when and how they use electricity, helping them get the most out of their solar energy systems.”

    “This is a major step forward for smart energy solutions for residential homes in France,” said Alexandre Sibut, co-manager at Activ’Environnement 38, a Platinum level installer of Enphase products in France. “With significant annual savings potential on electricity bills, IQ Energy Management helps our customers to improve their self-consumption rate by steering excess production to critical energy needs and thus optimizing their solar investment.”

    “As part of our vision for smarter, more flexible energy management, we’re proud to offer homeowners in France a powerful solution to get more value from their solar,” said Sabbas Daniel, senior vice president of sales at Enphase Energy. “IQ Energy Management makes it possible to optimize electricity usage across key appliances using the Enphase App, driving savings, self-consumption, and energy resilience – all from one intelligent system.”

    For more information, please visit Enphase’s website for IQ Energy Management and the IQ Energy Router suite of products in France.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power – and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 81.5 million microinverters, and approximately 4.8 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://enphase.com/.

    ©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality, and reliability; Enphase Energy’s expectations of homeowners’ ability to save money and maximize self-consumption through the intelligent management of these key home electricity appliances and statements regarding the timing and availability Enphase Energy’s products in France. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    Contact:

    Enphase Energy

    press@enphaseenergy.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

    May 20, 2025

  • MIL-OSI: Circuits Integrated Hellas Launches Game-Changing Kythrion Satcom Chipset

    Source: GlobeNewswire (MIL-OSI)

    ATHENS, Greece, May 19, 2025 (GLOBE NEWSWIRE) — Circuits Integrated Hellas (CIH), a pioneering innovator in advanced satellite communication (Satcom) technology, today launched Kythrion™, its revolutionary chipset platform engineered to transform the satellite communications (Satcom) landscape. Designed from the ground up to meet the extreme demands of modern aerospace, defense, and connectivity networks, Kythrion sets new benchmarks for performance, miniaturization, and sustainability in flat panel antenna (FPA) design.

    Kythrion is the first integrated solution that combines transmit, receive, and antenna functionality within a proprietary 3D antenna-in-package (AiP) and system-in-package (SiP) architecture. By vertically stacking compound III-V semiconductors like gallium arsenide (GaAs) and gallium nitride (GaN) with silicon technologies, Kythrion delivers over 60% reduction in antenna size, weight, power and cost (SWaP-C), while increasing thermal performance—without the need to overhaul existing manufacturing infrastructure.

    Kythrion addresses the limitations of legacy flat panel phased array antennas, which often account for up to 20% of satellite payload mass and introduce design trade-offs in size, cost, and power. By eliminating unnecessary PCB layers and consolidating RF, logic, and antenna elements in a dense 3D chip, Kythrion enables Satcom operators to do more with less—fitting more advanced sensors on Earth observation platforms, including low Earth-orbit (LEO) satellites, extending mission lifetimes, and reducing launch costs.

    “There is nothing else like Kythrion on the market today,” said Paolo Fioravanti, CIH co-founder and CEO. “It’s a true game-changer—engineered to improve FPA performance; to fundamentally reshape how Satcom platforms are designed, deployed, and scaled; and to contribute to environmental change efforts by enabling better, more consistent capture and analysis of Earth observation data.”

    Users of Earth observation platforms face shrinking data windows and urgent demand for real-time, high-throughput connectivity. With up to 20x bandwidth improvements and dramatic mass reduction, Kythrion empowers satellite operators to integrate more sophisticated payloads—such as high-resolution sensors, multispectral imaging systems, or artificial intelligence (AI)-driven analytics—without requiring larger spacecraft or booster upgrades.

    Kythrion also represents a breakthrough in sustainable design. By leveraging existing semiconductor materials and infrastructure, the platform avoids costly capital-intensive retooling and minimizes carbon-intensive manufacturing inputs. This reuse-first approach aligns with growing industry and government calls for climate-conscious innovation in space technologies.

    “Kythrion is not about reinventing the wheel—it’s about reengineering how we use it,” said Giannis Kontogiannopoulos, CIH co-founder and CTO. “From the materials we source to the missions we enable, we’re making it possible to scale Satcom capabilities sustainably, affordably, and globally. Kythrion positions CIH as a true enabler for next-gen satellite technology.”

    CIH is making Kythrion available as a flexible platform that supports chip sales, design-for-license engagements, or custom integration. The platform is currently undergoing packaging and stress validation, with early-stage demonstrators expected in late Q3 2025 and general availability in Q2 2026. Patent protections are in place for Kythrion’s core design and packaging architecture, with additional filings in development to cover future enhancements.

    CIH executives will be available to meet with attendees interested in learning more about Kythrion and its implications for the future of Satcom technology during Space Meetings Veneto, May 20-22, in Venice, Italy, in Startup Booth 7. CEO Paolo Fioravanti will also present a workshop at the conference, titled “Evolution of SATCOM and Next Hardware Leap in the Eye of a Start-Up,” on Wednesday, May 21, at 10 a.m.

    For more information or to schedule a meeting at the event, contact CIH: info@circuitsintegrated.com.

    About Circuits Integrated Hellas
    Headquartered in Athens, Greece, CIH is revolutionizing space communications with advanced semiconductor technologies, merging III-V materials and silicon in groundbreaking 3D IC stacks for flat panel antennas (FPAs). Focused on miniaturization, cost efficiency, and unparalleled performance, CIH enables next-generation satellite connectivity, powering a future where seamless global communication knows no boundaries. For more information, visit circuitsintegrated.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/52d6a2ec-89d3-4ca1-aa0a-56be05437b5e

    The MIL Network –

    May 20, 2025

  • MIL-OSI: TORRAS Redefines the iPhone Case Market with Ostand, OAir, and OFitness Series — A Fusion of Design, Durability, and Intelligent Functionality

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, May 19, 2025 (GLOBE NEWSWIRE) — TORRAS, a global leader in premium mobile accessories, is once again setting new industry benchmarks with its latest iPhone case lineup, blending aesthetic elegance, user-first innovation, and intelligent engineering. The recently launched Ostand, OAir, and OFitness series for the iPhone 16 Pro/Pro Max are drawing enthusiastic praise from users and tech experts alike, firmly cementing TORRAS’s position as a brand that doesn’t just protect devices—it elevates lifestyles.

    From magnetic stands that outsmart Apple’s own ideas to rugged, fashion-forward finishes designed for movement and self-expression, TORRAS’s new collection is designed for the modern, on-the-go individual who refuses to compromise between form and function.

    Stylish Protection with a Purpose: The Ostand Series
    Leading the charge is the TORRAS Ostand Case, which has been dubbed by Yanko Design as the “magnetic twist Apple didn’t think of.” With an integrated SnapMag™ ring stand, the Ostand offers 360° rotation and 180° foldability, allowing users to prop up their phones for video calls, streaming, or workouts—without sacrificing wireless charging compatibility.
    Android Central recently called it “the best-looking iPhone 16 Pro Max case yet,” praising its ultra-slim profile and premium materials that make the case feel like a natural extension of the iPhone’s design language.

    Built with military-grade shock absorption and TORRAS’s signature X-SHOCK 3.0 corner cushions, the Ostand series combines minimalist aesthetics with uncompromising protection.

    Ultra-Lightweight, Ultra-Breathable: The OAir Series
    Designed for users who crave sleekness without sacrificing durability, the OAir Case reimagines what a super lightweight protective case can be. Weighing just 28g, featuring a dual-layer structure reinforced with aerospace-grade materials. Inspired by the cushioning technology of air-cushioned running shoes, this TORRAS phone case features integrated air pockets within its protective layer for enhanced shock absorption.

    As noted by AppleInsider, the OAir is “rugged, colorful, and versatile,” delivering both durability and creative color combinations that suit a variety of personal styles. Whether for urban commuters or casual creators, the OAir hits the sweet spot between bold expression and trustworthy defense.

    Built for Movement: The OFitness Case
    For users who are constantly on the move, TORRAS introduces the OFitness Case, tailored for athletes, outdoor enthusiasts, and fitness-minded professionals. With a built-in magnetic stand and breathable air channels, this case is optimized for sweaty workouts, fast-paced lifestyles, and ergonomic comfort.

    According to SlashGear, the OFitness is “stylish and practical”—built not just to keep up with your routine, but to enhance it. The case is sweat-resistant, textured for grip, and integrates seamlessly with MagSafe accessories and fitness mounts.

    Technology + Lifestyle: A Design-Driven Approach
    All three case series exemplify TORRAS’s growing focus on “Human-Tech Design”—a philosophy that combines smart materials, thoughtful ergonomics, and future-facing features to create products that feel intuitive and indispensable.

    “We’ve always believed that the best technology is invisible—it enhances your experience without drawing attention to itself,” said at TORRAS. “With the Ostand, OAir, and OFitness series, we’re delivering accessories that are not only functional and protective, but emotionally resonant with how people live, move, and create today.”

    Available Now
    The Ostand, OAir, and OFitness series are now available globally on TORRAS’s official website, Amazon, and select retail partners. The collection supports：
    OAir：iPhone 16promax iPhone16 pro、iPhone15promax;
    OFitness: iPhone16, 16 pro, 16 promax & iPhone15pro，iPhone15 promax

    About TORRAS Founded in 2012, TORRAS is a global lifestyle brand driven by innovation, quality, and user experience. With over 300 patents and a presence in more than 40 countries, TORRAS is committed to reimagining everyday technology accessories through bold design and intelligent function.

    Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/46970882-0db2-4620-8442-8ebc3a530248
    https://www.globenewswire.com/NewsRoom/AttachmentNg/4894eb80-7679-42ec-81a0-258a394fd553
    https://www.globenewswire.com/NewsRoom/AttachmentNg/0119200d-9b01-49e6-aa0f-693e83c1200f
    https://www.globenewswire.com/NewsRoom/AttachmentNg/2161512d-d19b-46b7-9baa-54d4678f857e

    The MIL Network –

    May 20, 2025

  • MIL-OSI: AMD Announces Agreement to Divest ZT Systems Data Center Infrastructure Manufacturing Business to Sanmina

    Source: GlobeNewswire (MIL-OSI)

    • $3 billion in cash and stock, inclusive of a contingent payment of up to $450 million
    • AMD retains ZT Systems’ rack-scale AI solutions design and customer enablement expertise to accelerate quality and time-to-deployment for cloud customers
    • Divestiture and preferred NPI manufacturing partnership with Sanmina consistent with intentions announced at the time of ZT Systems acquisition

    SANTA CLARA, Calif., May 19, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) today announced it has entered into a definitive agreement to sell ZT Systems’ U.S.-headquartered data center infrastructure manufacturing business to Sanmina (NASDAQ: SANM), a leading integrated manufacturing solutions company. As part of the transaction, Sanmina becomes a preferred new product introduction (NPI) manufacturing partner for AMD cloud rack and cluster-scale AI solutions. AMD will retain ZT Systems’ world-class design and customer enablement teams to accelerate the quality and time-to-deployment of AMD AI systems for cloud customers.

    Sanmina will purchase the manufacturing business from AMD for $3 billion in cash and stock, inclusive of a contingent payment of up to $450 million and subject to customary adjustments for working capital and other items. The transaction is expected to close near the end of 2025, subject to regulatory approvals and customary closing conditions. The intent to seek a strategic partner to acquire ZT Systems’ world-class data center infrastructure manufacturing business was announced in August 2024 at the time of the original acquisition announcement.

    “By combining the deep experience of our AI systems design team with our new preferred NPI partnership with Sanmina, we expect to strengthen our U.S-based manufacturing capabilities for rack and cluster-scale AI systems and accelerate quality and time-to-market for our cloud customers,” said Forrest Norrod, executive vice president and general manager, Data Center Solutions business unit at AMD. “The ZT Systems manufacturing business and its expert team remain a very important and strategic partner to AMD. We look forward to working with Sanmina to deliver world-class design, quality and manufacturing of AMD AI solutions supported by our open ecosystem approach.”

    Sanmina is a U.S.-headquartered leading integrated manufacturing solutions provider serving the fastest growing segments of global Electronic Manufacturing Services (EMS), offering end-to-end design, manufacturing, logistics and repair solutions for OEMs across a variety of industries.

    “ZT Systems’ liquid cooling capabilities, high-quality manufacturing capacity and significant cloud and AI infrastructure experience are the perfect complement to Sanmina’s global portfolio, mission-critical technologies and vertical integration capabilities,” said Jure Sola, Chairman and CEO of Sanmina Corporation. “Together, we will be better able to deliver a competitive advantage to our customers with solutions for the entire product lifecycle. We look forward to our ongoing partnership with AMD as we work together to set the standard for quality and flexibility to benefit the entire AI ecosystem.”

    Advisors
    Morgan Stanley & Co. LLC is acting as exclusive financial advisor to AMD and Latham & Watkins LLP is serving as the company’s legal advisor.

    About AMD
    For more than 55 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and X pages. 

    Cautionary Statement

    The statements in this press release includes forward-looking statements concerning Advanced Micro Devices, Inc. (“AMD”), ZT Group Int’l, Inc (“ZT Systems”) and Sanmina Corporation (“Sanmina”), the proposed transaction described herein and other matters. Forward-looking statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations. Forward-looking statements speak only as of the date they are made or as of the dates indicated in the statements and should not be relied upon as predictions of future events, as there can be no assurance that the events or circumstances reflected in these statements will be achieved or will occur. Forward-looking statements can often, but not always, be identified by the use of forward-looking terminology including “believes,” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “plans,” “pro forma,” “estimates,” “anticipates,” “designed,” or the negative of these words and phrases, other variations of these words and phrases or comparable terminology. The forward-looking statements relate to, among other things, Sanmina as a preferred NPI strategic partner and expected benefits and results from such preferred strategic partnership; AMD’s ability to accelerate the quality and time-to-deployment of AMD AI systems with ZT Systems design and customer enablement teams, obtaining applicable regulatory approvals, satisfying other closing conditions to the transaction, the expected timing of the transaction, the expected benefits to result from the transaction, AMD’s ability to accelerate AI innovation while providing the choice and open ecosystem options that customers want, the ability of AMD to leverage the systems expertise of the ZT Systems design team while optimizing AMD’s operational structure, and AMD’s ability to drive growth across its data center and AI businesses. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. These risks include, among other things: failure to formalize the contemplated preferred NPI manufacturing partnership between AMD and Sanmina or the failure for such preferred strategic partnership to achieve its anticipated results; failure to accelerate the quality and time-to-deployment of AMD AI systems with ZT Systems design and customer enablement teams; failure to obtain applicable regulatory approvals in a timely manner or otherwise; failure to satisfy other closing conditions to the transaction or to complete the transaction on anticipated terms and timing; negative effects of the announcement of the transaction; risks that AMD will not realize expected benefits from the transaction or may take longer to realize than expected; the risk that disruptions from the transaction will harm business plans and operations; significant transaction costs, or difficulties and/or unknown or inestimable liabilities in connection with the transaction; restrictions during the pendency of the transaction that may impact the ability to pursue certain business opportunities or strategic transactions; the potential impact of the announcement or consummation of the transaction on AMD’s, Sanmina’s or either of their relationships with suppliers, customers, employees and regulators; and demand for AMD’s or Sanmina’s products. For a discussion of factors that could cause actual results to differ materially from those contemplated by forward-looking statements, see the section captioned “Risk Factors” in AMD’s Annual Report on Form 10-K for the fiscal year ended December 28, 2024, subsequent Quarterly Reports on Form 10-Q and other filings with the SEC. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. AMD does not assume, and hereby disclaims, any obligation to update forward-looking statements, except as may be required by law.

    Contact:
    Brandi Martina
    AMD Communications
    (512) 705-1720
    Brandi.Martina@amd.com

    Liz Stine
    AMD Investor Relations
    (720) 652-3965
    Liz.Stine@amd.com

    The MIL Network –

    May 19, 2025

  • MIL-OSI: LanzaTech Announces First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, May 19, 2025 (GLOBE NEWSWIRE) — LanzaTech Global, Inc. (NASDAQ: LNZA) (“LanzaTech” or the “Company”), a carbon management solutions company, today reported its financial and operating results for the first quarter of 2025.

    Key Takeaways:

    • Reported total revenue of $9.5 million for the first quarter of 2025 as compared to $10.2 million for the first quarter of 2024. The year-over-year decrease was driven primarily by lower revenues in the biorefining and Joint Development Agreement (“JDA”) & Contract Research businesses, which was largely offset by a significant increase in CarbonSmart™ revenue.
    • Continued to shift the Company’s core operations from research and development to the global deployment of LanzaTech’s commercially proven technology, with incremental actions being taken to sharpen the business focus, streamline operations, and improve the Company’s cost structure.
    • Closed $40 million of preferred equity capital in May of 2025; however, after completing its assessment as required by Generally Accepted Accounting Principles (“GAAP”), management has concluded that its continuing actions such as ongoing liquidity initiatives, together with the terms of the preferred capital, and the execution of cost reduction plans, do not alleviate substantial doubt about the Company’s ability to continue as a going concern.

    First Quarter 2025 Financial Results
    The table below outlines key results for the first quarter of 2025:

    All amounts in millions ($) Three Months Ended March 31,
        2025       2024  
    Revenue $ 9.5     $ 10.2  
    Cost of revenue   7.5       6.8  
    Gross Profit   2.0       3.4  
    Operating expenses   33.0       29.6  
    Net loss   (19.2 )     (25.5 )
    Adjusted EBITDA loss (1) $ (30.5 )   $ (22.1 )
                   

    (1)   See “Non-GAAP Financial Measures” and “Reconciliations of GAAP Net Loss to Adjusted EBITDA” sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release.

    Revenue

    • Reported total revenue of $9.5 million for the first quarter of 2025 as compared to total revenue of $10.2 million for the first quarter of 2024. The decrease was driven primarily by lower biorefining and JDA & Contract Research revenues year-over-year, which were offset by a significant increase in CarbonSmart revenue:
      • Biorefining revenue for the first quarter of 2025 was $2.9 million as compared to $5.0 million for the first quarter of 2024. The year-over-year decrease was driven primarily by the first quarter of 2024 benefiting from engineering and other services contracts with existing customers which have since reached the completion of their current development phase.
      • JDA & Contract Research revenue for the first quarter of 2025 was $2.4 million as compared to $4.3 million for the first quarter of 2024. The year-over-year decline was attributable to the completion of certain government projects during 2024, compounded by a period of downtime prior to new projects commencing.
      • CarbonSmart revenue for the first quarter of 2025 was $4.2 million as compared to $0.9 million for the first quarter of 2024. The year-over-year increase was attributable to incremental direct fuel sales as a result of establishing licensing arrangements, identifying partners, and developing supply chain infrastructure during the third quarter of 2024.

    Cost of Revenue

    • For the first quarter of 2025, the cost of revenue was $7.5 million as compared to $6.8 million for the first quarter of 2024. The year-over-year increase was driven in part by a change in revenue mix related to a rise in revenue generated by CarbonSmart, which is a lower margin business as compared to biorefining and JDA & Contract Research. Additionally, the biorefining business experienced margin contraction during the first quarter of 2025 as compared to the same period in 2024 as a result of customer mix.

    Operating Expenses

    • For the first quarter of 2025, operating expenses were $33.0 million as compared to $29.6 million for the first quarter of 2024. The year-over-year increase was primarily driven by incremental costs associated with sharpening the business focus, streamlining operations, and evaluating strategic options.

    Net Loss

    • For the first quarter of 2025, net losses were $19.2 million as compared $25.5 million for the first quarter of 2024. Net loss decreased year-over-year primarily as a result of a $17.9 million non-cash gain on financial instruments being recorded in the first quarter of 2025, that was partially offset by expenses incurred associated with evaluating strategic options and a $6.5 million non-cash loss recorded related to equity method investees.

    Adjusted EBITDA Loss

    • For the first quarter of 2025, adjusted EBITDA loss was $30.5 million as compared to $22.1 million for the first quarter of 2024. The increase in adjusted EBITDA loss year-over-year was primarily attributable to higher selling, general and administrative expenses as a result of evaluating strategic options, along with lower revenue and higher cost of sales period-over-period.

    Balance Sheet and Liquidity
    As of March 31, 2025, LanzaTech had $23.4 million in total cash, restricted cash, and investments, compared to total cash of $58.1 million at the end of December 31, 2024. The Company subsequently closed $40 million of preferred equity capital in May of 2025.

    About LanzaTech
    LanzaTech Global, Inc. (NASDAQ: LNZA) is the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein. Using its biorecycling technology, LanzaTech captures carbon generated by energy-intensive industries at the source, preventing it from being emitted into the air. LanzaTech then gives that captured carbon a new life as a clean replacement for virgin fossil carbon in everything from household cleaners and clothing fibers to packaging and fuels. For more information about LanzaTech, please visit https://lanzatech.com.

    Forward Looking Statements
    This press release includes forward-looking statements regarding, among other things, the plans, strategies and prospects, both business and financial, of LanzaTech. These statements are based on the beliefs and assumptions of LanzaTech’s management. Although LanzaTech believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, LanzaTech cannot assure you that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or similar expressions. The forward-looking statements are based on projections prepared by, and are the responsibility of, LanzaTech’s management. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside LanzaTech’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements, including the Company’s ability to continue operations as a going concern; the Company’s ability to obtain the stockholder approvals necessary to consummate the subsequent equity financing contemplated by the Series A Convertible Senior Preferred Stock Purchase Agreement, dated May 7, 2025; the Company’s ability to attract new investors and raise substantial additional financing to fund its operations and/or execute on its other strategic options; the Company’s ability to regain compliance with the listing rules of Nasdaq and maintain the listing of its securities on Nasdaq; and the Company’s ability to achieve profitability. LanzaTech may be adversely affected by other economic, business, or competitive factors, and other risks and uncertainties, including those described under the header “Risk Factors” in its Form 10-K for the year ended December 31, 2024, its Form 10-Q for the quarter ended March 31, 2025 and in future SEC filings. New risk factors that may affect actual results or outcomes emerge from time to time and it is not possible to predict all such risk factors, nor can LanzaTech assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to LanzaTech or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. LanzaTech undertakes no obligations to update or revise publicly any forward-looking statements.

    Non-GAAP Financial Measures
    To supplement our financial statements presented in accordance with US GAAP and to provide investors with additional information regarding our financial results, we have presented adjusted EBITDA, a non-GAAP financial measure. Adjusted EBITDA is not based on any standardized methodology prescribed by US GAAP and is not necessarily comparable to similarly titled measures presented by other companies.

    We define adjusted EBITDA as our net loss, excluding the impact of depreciation, interest income, net, stock-based compensation expense, change in fair value of warrant liabilities, change in fair value of Brookfield SAFE liabilities, loss on Brookfield SAFE extinguishment, change in fair value of the FPA Put Option and Fixed Maturity Consideration liabilities, change in fair value of our outstanding convertible note and related transaction costs, change in fair value of Brookfield Loan and(loss) gain from equity method investees. We monitor adjusted EBITDA because it is a key measure used by our management and Board of Directors to understand and evaluate our operating performance, to establish budgets, and to develop operational goals for managing our business. We believe adjusted EBITDA helps identify underlying trends in our business that could otherwise be masked by the effect of certain expenses that we include in net loss. Accordingly, we believe adjusted EBITDA provides useful information to investors, analysts, and others in understanding and evaluating our operating results and enhancing the overall understanding of our past performance and future prospects.

    Adjusted EBITDA is not prepared in accordance with US GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with US GAAP. There are a number of limitations related to the use of adjusted EBITDA rather than net loss, which is the most directly comparable financial measure calculated and presented in accordance with US GAAP. For example, adjusted EBITDA: (i) excludes stock-based compensation expense because it is a significant non-cash expense that is not directly related to our operating performance; (ii) excludes depreciation expense and, although this is a non-cash expense, the assets being depreciated and amortized may have to be replaced in the future; (iii) excludes gain or losses on equity method investee; and (iv) excludes certain income or expense items that do not provide a comparable measure of our business performance. In addition, the expenses and other items that we exclude in our calculations of adjusted EBITDA may differ from the expenses and other items, if any, that other companies may exclude from adjusted EBITDA when they report their operating results. In addition, other companies may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.

     
    LANZATECH GLOBAL INC.
    CONSOLIDATED BALANCE SHEETS
    (Unaudited, in thousands, except share and per share data)
     
      March 31,   December 31,
        2025       2024  
    Assets      
    Current assets:      
    Cash and cash equivalents $ 13,778     $ 43,499  
    Held-to-maturity investment securities   7,411       12,374  
    Trade and other receivables, net of allowance   9,058       9,456  
    Contract assets   13,267       18,975  
    Other current assets   14,157       15,030  
    Total current assets   57,671       99,334  
    Property, plant and equipment, net   20,225       22,333  
    Right-of-use assets   28,482       26,790  
    Equity method investment   —       4,363  
    Equity security investment   14,990       14,990  
    Other non-current assets   4,467       6,873  
    Total assets $ 125,835     $ 174,683  
    Liabilities and Shareholders’ Equity      
    Current liabilities:      
    Accounts payable $ 6,434     $ 5,289  
    Other accrued liabilities   7,506       8,876  
    Warrants   549       3,531  
    Fixed Maturity Consideration and current FPA Put Option liability   4,123       4,123  
    Contract liabilities   5,291       6,168  
    Accrued salaries and wages   2,451       2,302  
    Current lease liabilities   166       158  
    Total current liabilities   26,520       30,447  
    Non-current lease liabilities   30,144       30,619  
    Non-current contract liabilities   5,433       5,233  
    FPA Put Option liability   30,015       30,015  
    Brookfield SAFE liability   —       13,223  
    Brookfield Loan liability   18,416       —  
    Convertible Note   15,969       51,112  
    Other long-term liabilities   512       587  
    Total liabilities   127,009       161,236  
           
    Shareholders’ Equity      
    Common stock, $0.0001 par value, 600,000,000 and 600,000,000 shares authorized; 197,897,580 and 194,915,711 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively   19       19  
    Additional paid-in capital   983,991       981,638  
    Accumulated other comprehensive income   3,648       1,393  
    Accumulated deficit   (988,832 )     (969,603 )
    Total shareholders’ equity   (1,174 )     13,447  
    Total liabilities and shareholders’ equity $ 125,835     $ 174,683  
     
    LANZATECH GLOBAL INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited, in thousands, except share and per share data)
     
      Three Months Ended March 31,
        2025       2024  
    Revenues:      
    Contracts with customers and grants $ 3,057     $ 6,250  
    CarbonSmart product sales   4,204       863  
    Collaborative arrangements   1,050       2,223  
    Related party transactions   1,172       908  
    Total revenues   9,483       10,244  
    Costs and operating expenses:      
    Contracts with customers and grants(1)   2,902       4,998  
    CarbonSmart product sales(1)   4,136       919  
    Collaborative arrangements(1)   461       796  
    Related party transactions(1)   14       57  
    Research and development expense   16,494       17,061  
    Depreciation expense   781       1,530  
    Selling, general and administrative expense   15,748       11,037  
    Total cost and operating expenses   40,536       36,398  
    Loss from operations   (31,053 )     (26,154 )
    Other income (expense):      
    Interest income, net   438       1,148  
    Other income, net   17,918       179  
    Total other income, net   18,356       1,327  
    Loss before income taxes   (12,697 )     (24,827 )
    Income tax expense   —       —  
    Loss from equity method investees, net   (6,532 )     (681 )
    Net loss $ (19,229 )   $ (25,508 )
           
    Other comprehensive loss:      
    Changes in credit risk of fair value instruments   2,696       —  
    Foreign currency translation adjustments   (441 )     42  
    Comprehensive loss $ (16,974 )   $ (25,466 )
           
    Net loss per common share – basic and diluted $ (0.10 )   $ (0.13 )
    Weighted-average number of common shares outstanding – basic and diluted   196,514,267       196,974,508  
                   
    (1)   exclusive of depreciation              
     
    LANZATECH GLOBAL INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited, in thousands)
     
      Three Months Ended March 31,
        2025       2024  
    Cash Flows From Operating Activities:      
    Net loss $ (19,229 )   $ (25,508 )
    Adjustments to reconcile net loss to net cash used in operating activities:      
    Share-based compensation expense   2,280       2,529  
    Gain on change in fair value of SAFE and warrant liabilities   (2,932 )     (13,277 )
    Loss on Brookfield SAFE extinguishment   6,216       —  
    Loss on change in fair value of the Brookfield Loan   11,426       —  
    Loss on change in fair value of the FPA Put Option and the Fixed Maturity Consideration liabilities   —       13,045  
    Gain on change in fair value of Convertible Note   (35,143 )     —  
    Provisions for losses on trade and other receivables, net of recoveries   126       —  
    Depreciation of property, plant and equipment   781       1,530  
    Amortization of discount on debt security investment   (37 )     (360 )
    Non-cash lease expense   490       496  
    Non-cash recognition of licensing revenue   (1,108 )     (641 )
    Loss from equity method investees, net   6,532       681  
    Unrealized (Gain)/Loss on net foreign exchange   275       (224 )
    Changes in operating assets and liabilities:      
    Accounts receivable, net   240       645  
    Contract assets   5,837       (1,029 )
    Accrued interest on debt investment   32       (177 )
    Other assets   895       (3,012 )
    Accounts payable and accrued salaries and wages   1,171       (2,207 )
    Contract liabilities   463       616  
    Operating lease liabilities   (467 )     (485 )
    Other liabilities   1,051       (911 )
    Net cash used in operating activities   (21,101 )     (28,289 )
    Cash Flows From Investing Activities:      
    Purchase of property, plant and equipment   (713 )     (1,480 )
    Proceeds from maturity of debt securities   5,000       10,700  
    Net cash provided by investing activities   4,287       9,220  
    Cash Flows From Financing Activities:      
    Proceeds from issue of equity instruments of the Company   —       234  
    Repurchase of equity instruments of the Company   —       (48 )
    Partial settlement of the Brookfield Loan   (12,500 )     —  
    Net cash (used in)/provided by financing activities   (12,500 )     186  
    Effects of currency translation on cash, cash equivalents and restricted cash   (389 )     48  
    Net decrease in cash, cash equivalents and restricted cash   (29,703 )     (18,835 )
    Cash, cash equivalents and restricted cash at beginning of period   45,737       76,284  
    Cash, cash equivalents and restricted cash at end of period $ 16,034     $ 57,449  
    Supplemental disclosure of non-cash investing and financing activities:      
    Acquisition of property, plant and equipment under accounts payable   255       141  
    Extinguishment of the Brookfield SAFE   13,274       —  
    Issuance of the Brookfield Loan   (19,490 )     —  
     
    LANZATECH GLOBAL INC.
    Reconciliation of GAAP Net Loss to Adjusted EBITDA
    (Unaudited, in thousands)
     
      Three Months Ended March 31,
        2025       2024  
    Net Loss $ (19,229 )   $ (25,508 )
    Depreciation   781       1,530  
    Interest income, net   (438 )     (1,148 )
    Stock-based compensation expense and change in fair value of Brookfield SAFE and warrant liabilities (1)   (652 )     (10,748 )
    Loss on Brookfield SAFE extinguishment   6,216       —  
    Change in fair value of the FPA Put Option and Fixed Maturity Consideration liabilities (net of interest accretion reversal)   —       13,045  
    Change in fair value of Convertible Note and related transaction costs   (35,143 )     —  
    Change in fair value of Brookfield Loan   11,426       —  
    Loss from equity method investees, net   6,532       681  
    Adjusted EBITDA $ (30,507 )   $ (22,148 )
     
    (1)   Stock-based compensation expense represents expense related to equity compensation plans.

    Investor Relations Contact
    Kate Walsh
    VP, Investor Relations & Tax
    Investor.Relations@lanzatech.com

    The MIL Network –

    May 19, 2025

  • MIL-OSI: LIS Technologies Inc. to Unleash American Energy: Closing of Third Consecutive Oversubscribed Funding Round of $11.93M and Totaling Over $47M to Rebirth the Only United States Origin and Patented Technology for Laser Uranium Enrichment

    Source: GlobeNewswire (MIL-OSI)

    Oak Ridge, Tennessee, May 19, 2025 (GLOBE NEWSWIRE) — LIS Technologies Inc. (“LIST” or “the Company”), a proprietary developer of advanced laser technology and the only USA-origin and patented laser uranium enrichment company, today announced that it has closed its third consecutive oversubscribed funding round of $11.93 million and now totaling over $47 Million raised to date. The round drew continued support from repeat investors, including Innovating Capital, alongside other prominent, seasoned and industry investors in advanced nuclear technology.

    Due to a growing appetite within the United States for a robust domestic nuclear fuel supply chain, alongside strong support from returning investors, the Company’s recent financing round was oversubscribed. The raise underscores LIST’s position as an emerging leader in the United States enriched uranium fuel market and validates the Company’s success in attracting and retaining top researchers, scientists, regulatory experts and former U.S. national leaders to help drive the revival of the nation’s only patented laser‑enrichment technology.

    “Despite the volatile market conditions of this year, we continue to deliver on our objectives, and investors clearly recognize the value of our progress,” said Jay Yu, Executive Chairman and President of LIS Technologies Inc. “This marks our third consecutive oversubscribed financing round, highlighting investor’s confidence in LIST’s seasoned management team and our mission to revive the only U.S.‑origin, patented laser enrichment technology, which was independently evaluated and determined to meet all elements required for TRL-4, conforming to the Department of Energy guide DOE G 413.3-4A. We are here to answer the call and help build back the United States’ nuclear capabilities, support a reliable, robust domestic fuel supply for current civil nuclear reactors, microreactors, small modular reactors and to truly unleash American energy.”

    In late 2024, LIS Technologies Inc. was selected as one of six domestic companies to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. This initiative allocates up to $3.4 billion overall, with contracts lasting for up to 10 years. Each awardee is slated to receive a minimum contract of $2 million.

    The Company’s proprietary Condensation Repression Isotope Selective Laser Activation (CRISLA) technology is the world’s only proven U.S.-origin and patented advanced laser enrichment solution. Optimized for Low-Enriched Uranium (LEU), which is crucial for the continued operation of the United States’ current fleet of 94 nuclear reactors, and High-Assay Low-Enriched Uranium (HALEU), which is required to power the next generation of advanced nuclear reactors, CRISLA overcomes many of the complexities and limitations of traditional 16um CO2 lasers, featuring a streamlined design due to its lower absorption and shorter wavelength at 5.3µm. The CRISLA-3G laser isotope separation technology was recently evaluated and determined to meet all elements required for TRL-4, conforming to the Department of Energy guide DOE G 413.3-4A and is protected by a patent from the United States Patent and Trademark Office (USPTO).

    “The success of this and our previous raises underscores the confidence that investors have in our mission, team and technology,” said Christo Liebenberg, Co-Founder and CEO of LIS Technologies Inc. “This raise will enable us to continue growing operations, add more senior technical engineers, regulatory leaders and to rapidly advance our projects, which would be closer to demonstration activities crucial for meeting the Company’s growth objectives.”

    The funding secured in this raise will enable the Company to advance into its next phase of growth. This includes systems engineering, integration and testing of our Test Demonstration Facility in our newly upgraded laboratories in Oak Ridge TN, while also developing LIST’s own proprietary lasers in the United States. Our goal over the next couple years is to not only repeat earlier baseline results, but to optimize it, and then demonstrate that our technology can produce LEU in a single stage, and HALEU in two stages, with fully scaled and industrialized equipment. The funding also allows us to diversify the CRISLA technology into stable isotopes and medical isotopes.

    About LIS Technologies Inc.

    LIS Technologies Inc. (LIST) is a USA based, proprietary developer of a patented advanced laser technology, making use of infrared lasers to selectively excite the molecules of desired isotopes to separate them from other isotopes. The Laser Isotope Separation Technology (L.I.S.T) has a huge range of applications, including being the only USA-origin (and patented) laser uranium enrichment company, and several major advantages over traditional methods such as gas diffusion, centrifuges, and prior art laser enrichment. The LIST proprietary laser-based process is more energy-efficient and has the potential to be deployed with highly competitive capital and operational costs. L.I.S.T is optimized for LEU (Low Enriched Uranium) for existing civilian nuclear power plants, High-Assay LEU (HALEU) for the next generation of Small Modular Reactors (SMR) and Microreactors, the production of stable isotopes for medical and scientific research, and applications in quantum computing manufacturing for semiconductor technologies. The Company employs a world class nuclear technical team working alongside leading nuclear entrepreneurs and industry professionals, possessing strong relationships with government and private nuclear industries.

    In 2024, LIS Technologies Inc. was selected as one of six domestic companies to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. This initiative allocates up to $3.4 billion overall, with contracts lasting for up to 10 years. Each awardee is slated to receive a minimum contract of $2 million.

    For more information please visit: LaserIsTech.com

    For further information, please contact:
    Email: info@laseristech.com
    Telephone: 800-388-5492
    Follow us on X Platform
    Follow us on LinkedIn

    Forward Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. For LIS Technologies Inc., particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following which are, and will be, exacerbated by any worsening of global business and economic environment: (i) risks related to the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, loss of key individuals and uncertainty of success of patent filing, (ii) our ability to obtain contracts and funding to be able to continue operations and (iii) risks related to uncertainty regarding our ability to commercially deploy a competitive laser enrichment technology, (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission; and other risks and uncertainties discussed in this and our other filings with the SEC. Only after successful completion of our Phase 2 Pilot Plant demonstration will LIS Technologies be able to make realistic economic predictions for a Commercial Facility. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    The MIL Network –

    May 19, 2025

  • MIL-OSI Russia: We are expecting a hot semi-final of the KVN League of the State University of Management

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    On May 23, 2025, the semi-final of the GUU KVN League will be held in the Assembly Hall of the State University of Management.

    Attention! Enough sadness and worries! The KVN GUU League cancels fatigue and extends the May holidays with a hot semi-final game.

    We will find out the finalists of the season very soon! The teams will show three competitions at once for the first time, so we guarantee it will be interesting and funny.

    The following teams will take part in the semi-final: “TechnoBOBR”, MPEI; “What you need”, GUU; “Minimum”, State University of Medicine, Moscow Aviation Institute; “Fildepers”, State University of Ukraine; “Office”, State University of Management; “I don’t remember”, GUU; “Arcade”, MISiS, Moscow State Pedagogical University; “Grandmothers”, RSU named after. A.N. Kosygina; “Syrbor”, State University of Medicine.

    The game will take place on May 23 at 18:30 in the Assembly Hall of the State University of Management (Ryazansky Prospekt, 99, bldg. 5).

    Guests of the State University of Management must register using a short form.

    We’re waiting for everyone on Friday evening!

    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 –

    May 19, 2025

  • MIL-OSI: Toobit Strengthens European Presence as Platinum Sponsor of Dutch Blockchain Week 2025

    Source: GlobeNewswire (MIL-OSI)

    GEORGE TOWN, Cayman Islands, May 19, 2025 (GLOBE NEWSWIRE) — Toobit, an award-winning cryptocurrency exchange, will be participating in the upcoming Dutch Blockchain Week 2025 (DBW25) happening from May 19 to 25 as a Platinum Sponsor. The exchange will also be hosting a booth happening at the event’s Dutch Blockchain Summit, which will be held at Amsterdam’s Meervaart Theater on May 21 and 22.

    DBW25 is one of Europe’s leading blockchain gatherings, bringing together industry leaders, developers, investors, and regulators to explore innovations in digital assets and decentralized technologies. Organized by the BCNL Foundation, the largest Web3 ecosystem in the Netherlands, the event will serve as a hub for collaboration and knowledge-sharing, showcasing the evolving role of blockchain technology in finance and beyond.

    “We’re excited to be part of Dutch Blockchain Week, where some of the most important conversations around blockchain technology take place,” said Mike Williams, Chief Communication Officer of Toobit. “We look forward to building on meaningful discussions and exploring new innovations and opportunities in the space.”

    Toobit’s participation in the event comes on the heels of its successful participation in Web3 Amsterdam earlier this year, where the exchange similarly took on the role of Platinum Sponsor. The cryptoasset exchange had then mentioned its burgeoning presence in the Netherlands, as well as its intent to reach out to physically meet and engage its collaborators within the European crypto ecosystem.

    Dutch Blockchain Week provides a key platform for discussing emerging trends in security, accessibility, and innovations in crypto trading. Toobit joins a global network of professionals shaping the future of digital finance, contributing to the industry’s ongoing evolution. At the event, Toobit will also showcase its latest trading solutions, explore partnerships, and connect with the broader blockchain community.

    For more information on Dutch Blockchain Week 2025, visit https://dutchblockchainweek.com/

    About Toobit

    Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.

    For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram

    Contact: Davin C.

    Email: market@toobit.com

    Website: www.toobit.com

    Disclaimer: This is a paid post and is provided by Toobit. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ea5067d-f871-42b3-9943-971a00218907

    The MIL Network –

    May 19, 2025

  • MIL-OSI United Kingdom: Education Secretary gives keynote speech at Education World Forum

    Source: United Kingdom – Executive Government & Departments

    Speech

    Education Secretary gives keynote speech at Education World Forum

    Education Secretary Bridget Phillipson’s speech on the use of EdTech to improve opportunity in education at the Education World Forum.

    Hello everyone, and thank you all for being here.

    It’s wonderful to see everyone together in the same place – the biggest gathering of education ministers anywhere in the world!

    And what a fitting location. Just next door is the Methodist Central Hall, where almost 80 years ago the United Nations General Assembly met for the first time.

    And we also sit in the shadow of Westminster Abbey, a place which marks the memories of so many inspirational figures, men and women who still light up our classrooms centuries on.

    Isaac Newton, Stephen Hawking, and Charles Darwin are all buried there.

    Jane Austen and the three Brontë sisters each have a plaque – next to the statue of William Shakespeare.

    And close by lies the grave of Charles Dickens, whose stories I grew up reading, whose characters I loved.

    Oliver Twist, David Copperfield, Pip and his great expectations.

    The abandoned children of Victorian London, held back, time and again, by the tough luck of a bad start.

    I was always drawn to Dickens because he was never afraid to confront social injustice.

    The daily, grinding poverty that kept opportunity out of the reach of millions.

    There’s been plenty of progress since those darker days.

    And thankfully, London looks very different today.

    But much of the inequality, the injustice remains.

    Opportunity still lies beyond the grasp of too many people – here in this country and around the world too.

    We have so far to go on our journey to cut the link between background and success.

    That’s our job as education leaders, to give not just some children but all children the opportunity to succeed, regardless of background, to make that old dream new again for each generation.

    There are well over a hundred countries and territories represented here today. Well over a hundred different education systems. Well over a hundred different sets of challenges.

    But we can come together around one common cause. Opportunity.

    That’s what education is all about. Opportunity for all children – to learn, to discover, to go on and live a good life.

    So that every child knows, deep down in their bones, that success belongs to them.

    That’s my mission for the children of this country, it’s the mission of our government. Because background shouldn’t mean destiny.

    But the barriers we face are huge – here in the UK and across the globe.

    250 million children still out of school around the world.

    70% of children in low- and middle-income countries unable to read at the end of their basic education.

    A pandemic that saw schools all over the world close their gates, classrooms empty, playgrounds silent, a global generation of children falling behind.

    Challenges of this scale demand the fresh solutions of the future, not the stale systems of the past.

    We must squeeze every last drop of value out of every last pound of funding.

    And technology will lead the way.

    The opportunities of EdTech are huge. It’s a wave of innovation that can lift the learning of billions.

    But to be clear about what technology can do, first we need to be clear what it cannot do.

    It can’t replace great teachers.

    They are the heart, they are the soul of every school.

    That was true 500 years ago. It’ll be true in 500 more.

    Education is a deeply human gift, given by one generation to the next.

    Opportunity passed from one generation to the next.

    But EdTech can take that gift and make it stronger, spread it further, share it with more children.

    It can be the radical force that brings the very best education into every city, every town, every village, every school, every classroom in the world.

    It can help us to reach learners who might otherwise be left out – because they have a disability, their parents are poor, they don’t speak a certain language, or simply because they’re a girl.

    EdTech can help us tear down those barriers.

    Here in this country, we’re using it to free up teachers time to spend more time teaching.

    For children that means more attention, higher standards, better life chances.

    For teachers – less paperwork, lower stress, fewer drains on their valuable time. 

    My department is continuing to support Oak National Academy, an online hub of resources for teachers, whose AI lesson assistant is helping teachers to plan personalised lessons in minutes.

    Making the most of teacher time is one of the challenges we all face.

    Another is attendance – getting children back in the classroom, especially since covid.

    Our response is rooted in our world-class data, where schools can use an interactive dashboard to drive early intervention.

    And it’s working. We’ve lost 3 million fewer days to absence this year than last.

    And now we’re using AI to go further and faster.

    Just last week we launched a brand new AI-powered tool, which we think is amongst the first of its kind in the world.

    Every mainstream school in the country can access reports right now to benchmark their attendance against 20 similar schools.

    They highlight what schools are doing well, and where they need targeted intervention and support.

    That’s the kind of cutting-edge insight schools need to get attendance moving.

    But, despite its huge power, we know that AI isn’t a magic wand.

    EdTech can light up the next century of education – and I believe it will – but there are no guarantees.

    So getting AI on the right track now is the most important challenge for global education in a generation.

    And we have far to go to deliver the scale of progress that I know is possible.

    Our evidence-base is too narrow, too shallow, too concentrated in certain parts of the world, too focused on certain parts of the system.

    More research is needed; better research is needed.

    On impact.

    On value.

    On sustainability.

    And on safety.

    We need to come together to grow a global, collective consensus – a suite of effective tools, built on top-class evidence.

    That’s how, together, we can make sure EdTech and AI deliver the very best learning for children.

    And on this the UK will lead the way.

    This government’s EdTech hub – led by our Foreign, Commonwealth and Development Office – brings together research and policy organisations working to bridge the EdTech evidence gap.

    The Hub is here to support and empower government leaders, giving you the evidence that you need to roll out and scale up EdTech effectively and responsibly.

    The Hub is leading, and the UK is funding, the AI Observatory and Action Lab – supporting leaders in low- and middle-income countries to use AI in education.

    And we are continuing the change here at home with our new Content Store Project.

    We’re pooling a vast range of high-quality content – from curriculum guidance to teaching resources, from lessons plans to anonymised pupil work.

    And we’re making it available to AI companies to train their tools – so that they can generate top quality content for use in our classrooms.

    And we’re putting AI to work in a way that’s most useful for teachers, and most beneficial for students.

    But now we want to go further, to share our expertise, to work with our partners around the world to grow that collective consensus.

    So I am delighted to announce today that we are funding the development of global guidelines for generative AI in education.

    Working closely with partners at the OECD, we are shaping the global consensus on how generative AI can be deployed safely and effectively to boost education around the world.

    But everyone here today will know that guidelines are only ever as good as their implementation.

    Because what really matters is firm action in our classrooms, not abstract promises on a page.

    That’s why today I can announce that the UK will host an international summit on generative AI in education in 2026.

    Education leaders from around the world will come together to implement these guidelines – for the benefit of our children, young people and learners the world over.

    And we’ll continue to build the evidence base at home too.

    So I’m pleased to announce today that my department is investing more than a million pounds to test the Edtech we’re using in schools and colleges.

    Working with the Open Innovation Team, we’ll be engaging the sector to understand what works.

    We’ll look at how tools, including AI, can improve things like staff workload, pupil outcomes and inclusivity.

    Evidence must be at the heart of all we do, on EdTech and right across education.

    Here in the UK, we’re lucky to have the Education Endowment Foundation.

    The Foundation is at the forefront of research on how children learn.

    And my officials work hand in hand with their experts to make sure all our policies and programmes are driven by the very best evidence.

    We need to be at the top of our game.

    We’ve spoken about the challenges specific to education, but there are wider global challenges, that spill into our schools and colleges.

    Growing economic uncertainty, shifting labour markets, the flood of disinformation around social media.

    These are shared challenges that demand shared solutions.

    Solutions powered by technology, backed by evidence.

    But collaboration is key. We can’t do this alone.

    Learning from each other, sharing evidence, sharing data.

    The UK is here to convene, to accelerate and to celebrate all that is best in global education.

    And in the coming months we’ll publish our refreshed International Education Strategy.

    At its heart will be collaboration.

    Building partnerships that are meaningful, partnerships that matter, partnerships that, above all else, make a difference in the lives of the people we serve.

    That’s what sets apart those men and women whom we remember in Westminster Abbey. They made a difference in people’s lives.

    The scientists and engineers, the poets and playwrights, the doctors and nurses.

    Most of their deeds were done and dusted centuries ago. But their legacy lives on.

    EdTech is now bringing the wonders of the Abbey to a whole new generation of children.

    From the Anglo-Saxons to the Tudors, from the majesty of coronations to the drudgery of everyday medieval life.

    Abbey experts run virtual classrooms and virtual tours for schools unable to visit in person – so that every child can learn about this building which has been at the heart of our national life for a thousand years.

    So that no child has to miss out.

    That’s what EdTech is all about, what education is all about, opportunity for all of our children.

    Because let’s not forget, this is for them.

    For every child, for every young person, for every adult around the world who deserves the opportunity to learn.

    That’s why we have to get this right.

    That’s why so many of you have come here today from so far away.

    And that’s why I am so thankful that you have.

    Because together I know that we can make a difference.

    So it gives me great pleasure to welcome you to the Education World Forum 2025.

    And I look forward to working together with you as we build stronger, bolder, better education together.

    Thank you.

    DfE media enquiries

    Central newsdesk – for journalists 020 7783 8300

    Updates to this page

    Published 19 May 2025

    MIL OSI United Kingdom –

    May 19, 2025

  • MIL-OSI Russia: Delegation of Norilsk Nickel’s Polar Transport Branch visited Polytech

    Translation. Region: Russian Federal

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

    A delegation from Norilsk Nickel’s Polar Transport Branch visited Peter the Great St. Petersburg Polytechnic University to discuss cooperation with the Advanced Engineering School of SPbPU “Digital Engineering” and to get acquainted with the competencies of the Higher School of Industrial Management of the Institute of Industrial Management, Economics and Trade of SPbPU.

    The Norilsk Nickel Polar Transport Branch (the successor to the Dudinka Sea Port) is the main regional transport hub, providing for the vital functions of the entire Taimyr Dolgano-Nenets and Norilsk industrial regions. The branch processes 95% of all incoming cargo for the Norilsk Nickel Group of Companies and consumers on the Taimyr Peninsula, and ships its finished products to ships bound for ports in Russia and around the world. The port’s cargo turnover is about four million tons.

    Vice-Rector for Digital Transformation of SPbPU, Head of the Advanced Engineering School of SPbPU “Digital Engineering” Alexey Borovkov told the guests aboutestablished interaction with the Norilsk Nickel group of companies. Deputy Director for Improvement and Development of Production Activities of the Polar Transport Branch of Norilsk Nickel Sergey Lyashenko gave a presentation of the branch, presenting the main areas of its work and infrastructure.

    Sergey Lyashenko outlined potential areas of cooperation with the Advanced Engineering School of SPbPU “Digital Engineering” based on the tasks and challenges facing the Polar Transport Branch of Norilsk Nickel in the context of the development of the Northern Sea Route by the Norilsk Nickel group of companies and the corresponding increase in port cargo turnover. Among the key tasks, he noted the use of technologies to increase labor productivity and optimize the transfer of operational data to ensure the smooth operation of equipment along the entire port line, taking into account temperature restrictions and terrain. The guest also spoke about the existing barriers to the digitalization of the branch’s activities and the experience of overcoming them.

    Sergey Vladimirovich emphasized the interest in the competencies of the SPbPU PISh in the field of mathematical and computer modeling to solve the problems of automating all processes of the activities of the Polar Transport Branch of Norilsk Nickel, taking into account different scenarios and the state of technological equipment.

    We are interested in establishing cooperation with an authoritative scientific center represented by the Advanced Engineering School of the Polytechnic University, which has experience and knowledge in the field of advanced digital and production technologies, including big data management, mathematical and computer modeling, and can ensure the formation of correct data that we can use to justify certain management decisions, analyze the effectiveness of selected approaches and measures, as well as medium-term and long-term planning, said Sergey Kolesnik, Deputy Director for Commercial Activities of Norilsk Nickel’s Polar Transport Branch.

    Then the meeting participants discussed the vision of the final result of the interaction in the context of building visual analytics for production automation and data management on the state of the branch’s technological infrastructure, and also considered the predicted economic effect of the cooperation. Speaking about lost profits and ways to reduce the economic risks of enterprises, SPbPU Vice-Rector for Digital Transformation Alexey Borovkov gave an example of the work of SPbPU PISh specialists for the Gazprom Pererabotka Blagoveshchensk company following the accident at the Amur Gas Processing Plant on January 5, 2022.

    Every day of the plant’s downtime after the accident brought multimillion-dollar losses to Gazprom. Employees of the SPbPU PISh were involved in the accident investigation, and they prepared a scientific and technical report on its causes. This work not only made a significant contribution to the development of the fuel and energy complex of Russia in terms of preventing similar emergencies at high-tech facilities in the industry, but also proved that the use of advanced digital and production technologies has a positive economic effect, reducing the risk of accidents and preventing lost profits and costs of enterprises, – noted Alexey Ivanovich.

    Deputy Director of the Engineering Center (CompMechLab®) of SPbPU Nikolay Efimov-Soini briefly spoke about the technology of digital twins — the main technology of system digital engineering developed by the PISh SPbPU. Nikolay Konstantinovich described the technology and outlined its key advantages, demonstrated within the framework of joint R&D with representatives of ten industries.

    The participants of the working meeting defined further steps for interaction taking into account competencies and current tasks. They also considered the possibilities of corporate training in production organization technologies and the basics of the Lean Manufacturing concept using the computer simulator of the same name and other products. rulers, developed by specialists of the SPbPU PISh on the CML-Bench®.EDU Digital Platform, which is gradually developing as a separate area of the Digital Platform for the Development and Application of Digital Twins CML-Bench®.

    At the end of the working visit, the guests assessed the capabilities and infrastructure of the Polytechnic Supercomputer Center, which ensures the implementation ofDigital platform for the development and application of digital twins CML-Bench® science-intensive projects of the SPbPU Technological Development Ecosystem with leading high-tech companies and corporations of our country.

    After visiting the Advanced Engineering School of SPbPU “Digital Engineering”, the delegation of the Polar Transport Branch of Norilsk Nickel got acquainted with the competencies and achievements of specialists of the Higher School of Industrial Management of the Institute of Industrial Management, Economics and Trade of SPbPU and discussed possible areas of cooperation in educational and scientific activities in the field of logistics.

    Vice-Rector for Continuing and Pre-University Education at SPbPU Dmitry Tikhonov spoke about the possibility of effective cooperation in creating and implementing advanced training programs for employees of Norilsk Nickel’s Polar Transport Branch, including in a distance learning format, as well as preparing specialized classes of schoolchildren for the company.

    Director of the Higher School of Management of the Institute of Mechanical Engineering, Materials and Transport Olga Kalinina presented the experience of implementing educational projects related to logistics at the Higher School. In addition to training in the bachelor’s degree programs “International Logistics” and master’s degree program “International Logistics Systems”, Olga Vladimirovna noted the additional professional education program “Fundamentals of the Organization and Economics of Production in Metallurgy for Purchasing Management at Mechanical Engineering Enterprises”, successfully implemented jointly with the Higher School of Physics and Materials Technology of the Institute of Mechanical Engineering, Materials and Transport of St. Petersburg Polytechnic University for the Purchasing Directorate of JSC “Power Machines”, as well as the creation of educational cases for the disciplines “Transport Logistics” and “Inventory Management” based on the results of internships of teachers in the Beaton group of companies.

    Deputy Director of the Higher School of Management of the Institute of Mechanics and Technology of Economics and Technology for educational and methodological work Zoya Simakova presented the results of the work carried out in 2023 and 2024 within the framework of project “Harmonization of production needs with the provision of components and materials” by order of JSC Power Machines – the Electrosila plant, andproject “Transformation of purchasing activities of an industrial enterprise”, implemented to reduce the slow-turnover inventory of JSC Power Machines – Leningrad Metal Plant.

    Head of the research laboratory “Management of production systems and business processes” of the Higher School of Management of IPMEiT Dmitry Metkin demonstrated the team’s experience in terms of performing contractual work for industrial customers on technical and economic justification, forming investment activity programs when planning new projects, as well as developing strategies for introducing industrial products to new markets.

    After the working meeting, Sergey Lyashenko, Deputy Director for Improvement and Development of Production Activities of the Polar Transport Branch of Norilsk Nickel, held an interactive master class for students of the Higher School of Industrial Management of the Institute of Industrial Management, Economics and Trade of SPbPU on the subject “Fundamentals of Logistics of Oil and Gas Enterprises”.

    In conclusion, representatives of the Higher School of Management of the Institute of Industrial Management, Economics and Trade invited the delegation of the Polar Transport Branch of Norilsk Nickel to a tour. The guests inspected the classrooms and laboratories of the Institute of Industrial Management, Economics and Trade, and assessed the capabilities of the computer classes equipped with programs for studying specialized disciplines in logistics.

    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 –

    May 19, 2025

  • MIL-OSI Africa: Al Ahli Tripoli and APR Win Second Straight Games at the Basketball Africa League (BAL) Nile Conference

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

    KIGALI, Rwanda, May 19, 2025/APO Group/ —

    Jean-Jacques Boissy got 30 points, including 18 from behind the arc, Jaylen Adams added 26 points and eight assists, and Al Ahli Tripoli (Libya) beat Nairobi City Thunder (Kenya) 115-87 in the second day opener of the Basketball Africa League’s (BAL) Nile Conference (https://BAL.NBA.com/) in Kigali, Rwanda.  In the second game, APR (Rwanda) beat MBB (South Africa) 103-81.

    With their second straight win, Al Ahli scored the most points in one game in BAL history and outrebounded Nairobi 50-41. Nairobi was led by Uchenna Iroegbu who finished with 18 points, seven rebounds and seven assists.  

    APR were led by Aliou Diarra’s 22 points and 14 rebounds, including eight on the offensive end of the floor. MBB were outrebounded once again, this time 50-38, and struggled offensively while shooting over 35 percent from the floor. They were led by Teafale Lenard Jr. who got 20 points, with Jovan Mooring adding 17 and Pieter Prinsloo adding 13.

    The Nile Conference returns on Tuesday when MBB takes on Nairobi City Thunder at 4 p.m. CAT, while APR faces Al Ahli at 7 p.m. CAT.

    The top two teams from the Nile Conference and the best third place team between Kalahari Conference’s FUS Rabat (Morocco) and the third place team in the Nile Conference will advance to the BAL Playoffs and Finals which will take place at SunBet Arena in Pretoria, South Africa from June 6-14 (tickets available on www.Ticketmaster.co.za).

    POSTGAME MEDIA AVAILABILITY

    STANDINGS

    MIL OSI Africa –

    May 19, 2025

  • MIL-OSI Africa: AI-driven motion capture is transforming sports and exercise science

    Source: The Conversation – Africa – By Habib Noorbhai, Professor (Health & Sports Science), University of Johannesburg

    In sport, the margin between success and failure is often measured in milliseconds. It could be a cricketer adjusting their foot positioning, a runner refining their sprint start or a footballer perfecting their passing.

    This is where motion capture comes in – among the many approaches being used for athletic performance and movement analysis.

    Conventional motion capture tracks a person’s movements by using sensors or reflective markers linked to cameras. This provides data that helps sport scientists analyse how to improve an athlete’s performance, personalise their training programme and prevent possible injury.

    But for decades, motion capture in sport has been done using cumbersome suits and complex camera systems. These technologies offer high precision, but have remained out of reach for many because of their cost, technical demands and rigid laboratory constraints.

    As sport evolves, so too must the technology that analyses it. The way we measure human movement is experiencing a major transformation. Markerless motion capture (enabled by artificial intelligence, computer vision, depth sensors and multiple-camera systems) is set to revolutionise sports performance analysis.

    As a health and sports scientist with a focus on data, innovation and technology, I co-authored a study on markerless motion capture in sports and exercise. We reviewed and compared various motion capture options so that users can choose what system is best for their needs and budgets.

    This matters because markerless motion capture provides a practical alternative that’s accessible, scalable and adaptable to real-world settings. It’s a shift that promises to transform how athletes train, how they move, how injuries are assessed and how coaches refine performance.

    The problem with traditional motion capture

    Marker-based motion capture has long been considered the gold standard for analysing movement. Various systems use optoelectronic (devices that emit or detect light) tracking. They’ve provided researchers and coaches with precise three-dimensional (3D) data on joint angles, movement efficiency and biomechanical load. But these systems come with challenges.

    Traditional motion capture in a research laboratory, with screen analysis. Courtesy Habib Noorbhai

    Firstly, the need for reflective markers placed on the body introduces variability. Even slight misplacements can compromise data accuracy.

    Secondly, these systems are largely confined to laboratory environments. While they work well for controlled studies, they can’t always capture the dynamics of real-world sports performance.

    Thirdly, the cost of such setups, often reaching tens of thousands of dollars, limits their use to elite teams and well-funded research labs. This financial barrier places the technology out of reach for grassroots sport, where talent development is crucial.

    The rise of markerless motion capture

    Markerless motion capture, driven by deep learning and computer vision, allows movement to be tracked directly from video footage, without requiring physical markers. Models such as OpenPose, TensorFlow Pose Estimate and MeTRAbs can now identify and analyse human joint positions in 3D, all from a single video feed.

    A cricket bowler in action using pose estimation (markerless motion capture) in Plotly. Courtesy Habib Noorbhai

    This approach has profound implications. It means that coaches can capture real-time movement data from training sessions without interrupting the natural flow of play. Athletes can analyse their technique with nothing more than a smartphone camera. It opens the door for motion capture to move beyond the lab and onto the field, the court or the gym floor.

    Where markerless motion capture works best

    The ability to track movement in real-world environments makes markerless motion capture particularly valuable in high-speed and dynamic sports.

    In football, tracking player movement during passing drills can inform tactical decisions. In sprinting, coaches can analyse stride length and ground contact time without disrupting training sessions. In baseball and cricket, batting mechanics can be assessed without requiring players to wear cumbersome tracking suits or markers.

    Beyond performance analysis, the implications for injury management and rehabilitation are just as compelling.

    By integrating markerless motion capture into injury rehabilitation programmes, physiotherapists can monitor movement deficiencies in real time. A player recovering from an anterior cruciate ligament injury, for example, can have their gait and knee valgus angles monitored remotely. This reduces the need for repeated clinic visits.

    Barriers

    Despite its potential, markerless motion capture is not without its challenges. While deep learning models are improving, they still struggle with occlusion: where body parts become temporarily hidden from view. Variations in lighting, camera angles and player body types can affect tracking accuracy too.

    To improve robustness across diverse sports settings, these issues need ongoing refinement in pose estimation algorithms. (These are computer vision techniques used to locate and track key points of the body on a person in a video.)

    Read more: Supershoes have transformed competitive distance running, but they remain controversial

    Another key limitation is validation. Traditional motion capture systems have been extensively tested for accuracy, but markerless models are still undergoing further validation in sport-specific contexts.

    Ensuring consistency and reliability will be crucial in convincing elite teams to transition away from marker-based setups.

    A future without markers?

    The question remains: will markerless motion capture completely disrupt and replace traditional systems? The reality is likely to be more nuanced.

    While marker-based motion capture will retain its place in highly controlled research settings, markerless alternatives will dominate practical, field-based applications. The accessibility, ease of use and real-time capabilities of markerless systems make them a game-changer.

    Read more: VAR and peace? Why tech-assisted refereeing won’t do away with disputed decisions at the World Cup

    As AI models become more sophisticated and sensor technology advances, the precision of markerless systems will continue to improve. The future of motion capture lies not in replacing one method with another, but in integrating multiple approaches to create a seamless, scalable and accurate framework for movement analysis.

    It’s no longer a question of whether markerless motion capture will take over, but when. And as the technology matures, the benefits for coaches, athletes and scientists alike will only continue to grow. It’s set to play an integral role in shaping the next generation of athletic performance and movement analysis.

    – AI-driven motion capture is transforming sports and exercise science
    – https://theconversation.com/ai-driven-motion-capture-is-transforming-sports-and-exercise-science-254646

    MIL OSI Africa –

    May 19, 2025

  • MIL-OSI: CBAK Energy Reports First Quater 2025 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    DALIAN, China, May 19, 2025 (GLOBE NEWSWIRE) — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy,” or the “Company”) a leading lithium-ion battery manufacturer and electric energy solution provider in China, today reported its unaudited financial results for the first quarter ended March 31, 2025.

    First Quater of 2025 Financial Results

    Net revenues1 were $34.9 million, representing a decrease of 41% compared to $58.8 million in the same period of 2024. The substantial decline primarily stems from our Dalian facilities, where a major portion of customers are in the residential energy supply sector. These facilities are currently undergoing a product portfolio upgrade, transitioning from Model 26650 to Model 40135. Customers who previously purchased Model 26650 are now in a transitional phase of testing and validating the new Model 40135. We anticipate a gradual recovery as both existing and potential customers complete the validation of Model 40135.

    Among these revenues, detailed revenues from our battery business are:

    Battery Business   2024
    First Quater    		     2025
    First Quater    		     % Change
    YoY
    Net Revenues ($)   44,837,869     20,363,338     -54.6
    Gross Profits ($)   18,458,522     4,720,102     -74.4
    Gross Margin   41.2 %   23.2 %   –
    Net Income ($)   11,682,429     336,861     -97.1
    Net Revenues from Battery Business on Applications ($)                
    Electric Vehicles   480,181     537,507     11.9
    Light Electric Vehicles   1,510,292     2,844,874     88.4
    Residential Energy Supply & Uninterruptable supplies   42,847,396     16,980,957     -60.4
    Total   44,837,869     20,363,338     -54.6
    1 Net revenues consist of the Company’s self-operated battery business and Hitrans, which was acquired in 2021, an independently managed raw materials business.


    Cost of revenues     was $30.14 million, representing a decrease of 24.7% from $40.0 million in the same period of 2024.

    Gross profit was $4.8 million, representing an decrease of 74.43% from $18.78 million in the same period of 2024. Gross margin was 13.7%, compared to 31.9% in the same period of 2024.

    Operating loss amounted to $2.86 million, compared to an operating income of $10.3 million in the same period of 2024.

    Net loss attributable to shareholders of CBAK Energy was $1.58 million, compared to net income attributable to shareholders of CBAK Energy of $9.8 million in the same period of 2024.

    Basic and diluted loss per share were both $0.02, compared to basic and diluted income per share of $0.11 in 2024.

    Zhiguang Hu, Chief Executive Officer of the Company, commented, “As anticipated, we experienced a significant 41% year-over-year decline in net revenues. This decrease was expected, as Model 26650 — a cell developed in 2006 and still produced at our Dalian facilities — has become largely outdated. Both existing and potential customers are currently transitioning from Model 26650 to the more advanced Model 40135. We are confident that, upon completing the construction of new manufacturing lines for Model 40135 in the second half of this year, and as customers finalize product validation, our revenues will begin to recover gradually.”

    Jiewei Li, Chief Financial Officer and Secretary of the Board, added, “As Mr. Hu emphasized, we expect to recover once the product portfolio upgrade at our Dalian facilities is completed. Meanwhile, our Nanjing facilities continue to experience strong growth momentum, driven by robust market demand for Model 32140, our most advanced and flagship product to date. Additionally, we are in the final stages of securing a long-term order from one of our key customers, which we hope to finalize and share with our shareholders in the near future.”

    Conference Call

    CBAK Energy’s management will host an earnings conference call at 9:00 AM U.S. Eastern Time on Monday, May 19, 2025 (9:00 PM Beijing/Hong Kong Time on May 19, 2025).

    For participants who wish to join our call online, please visit:
    https://edge.media-server.com/mmc/p/wfu5unoh

    Participants who plan to ask questions during the call will need to register at least 15 minutes prior to the scheduled call start time using the link provided below. Upon registration, participants will receive the conference call access information, including dial-in numbers, a unique pin, and an email with detailed instructions.

    Participant Online Registration:
    https://register-conf.media-server.com/register/BIb49b754e574a43e68068965ba0234966

    Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the conference call and enter the personal pin as instructed to connect to the call.

    A replay of the conference call may be accessed within seven days after the conclusion of the live call at the following website: https://edge.media-server.com/mmc/p/wfu5unoh

    The earnings release and the link for the replay are available at ir.cbak.com.cn

    About CBAK Energy

    CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.

    For more information, please visit ir.cbak.com.cn

    Safe Harbor Statement

    This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.

    Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management’s current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, that the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, the effects of the global Covid-19 pandemic or other health epidemics, changes in domestic and foreign laws, regulations and taxes, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain markets for the Company’s products and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of our products and solutions that we discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

    For further inquiries, please contact:

    In China:

    CBAK Energy Technology, Inc.
    Investor Relations Department
    Email: ir@cbak.com.cn

    CBAK Energy Technology, Inc. and Subsidiaries
    Condensed Consolidated Balance Sheets
    As of December 31, 2024 and March 31, 2025
    (Unaudited)
    (In US$ except for number of shares)
     
      December 31,
    2024    		     March 31,
    2025    		  
    Assets          
    Current assets          
    Cash and cash equivalents $ 6,724,360     $ 4,052,010  
    Pledged deposits   54,061,642       43,482,693  
    Term deposits   4,237,090       5,530,030  
    Trade and bills receivable, net   32,938,918       40,835,093  
    Inventories   22,851,027       30,803,486  
    Prepayments and other receivables   20,004,966       17,991,265  
    Receivables from former subsidiary   12,399       9,011  
    Income tax recoverable   566,458       455,342  
    Total current assets   141,396,860       143,158,930  
                   
    Property, plant and equipment, net   85,486,829       84,283,683  
    Construction in progress   42,526,859       51,527,443  
    Long-term investments, net   2,246,494       2,313,725  
    Prepaid land use rights   11,075,973       11,056,715  
    Intangible assets, net   382,962       268,398  
    Deposit paid for acquisition of long-term investments   15,864,318       15,949,095  
    Operating lease right-of-use assets, net   3,237,849       2,906,652  
    Total assets $ 302,218,144     $ 311,464,641  
                   
    Liabilities              
    Current liabilities              
    Trade and bills payable   84,724,386       93,398,948  
    Short-term bank borrowings   26,087,350       29,301,628  
    Other short-term loans   335,715       335,905  
    Accrued expenses and other payables   58,285,635       50,305,373  
    Payable to a former subsidiary, net   419,849       418,211  
    Deferred government grants, current   556,214       559,186  
    Product warranty provisions   23,426       23,000  
    Operating lease liability, current   1,268,405       1,159,373  
    Total current liabilities   171,700,980       175,501,624  
                   
    Long-term bank borrowings   –       4,131,890  
    Deferred government grants, non-current   7,580,255       10,272,610  
    Product warranty provisions   420,688       417,565  
    Operating lease liability, non-current   2,449,056       2,397,859  
    Total liabilities   182,150,979       192,721,548  
                   
    Commitments and contingencies              
                   
    Shareholders’ equity              
    Common stock $0.001 par value; 500,000,000 authorized; 90,083,396 issued and 89,939,190 outstanding as of December 31, 2024; and 90,083,868 issued and 89,939,662 outstanding as of March 31, 2025   90,083       90,083  
    Donated shares   14,101,689       14,101,689  
    Additional paid-in capital   247,842,445       247,869,511  
    Statutory reserves   1,230,511       3,042,602  
    Accumulated deficit   (122,605,730 )     (125,997,055 )
    Accumulated other comprehensive loss   (14,919,345 )     (14,248,434 )
        125,739,653       124,858,396  
                   
    Less: Treasury shares   (4,066,610 )     (4,066,610 )
                   
    Total shareholders’ equity   121,673,043       120,791,786  
    Non-controlling interests   (1,605,878 )     (2,048,693 )
    Total equity   120,067,165       118,743,093  
                   
    Total liabilities and shareholder’s equity $ 302,218,144     $ 311,464,641  

     

    CBAK Energy Technology, Inc. and Subsidiaries
    Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
    For the three months ended March 31, 2024 and 2025
    (Unaudited)
    (In US$ except for number of shares)
     
      Three months ended
    March 31,    		  
      2024     2025  
    Net revenues $ 58,822,432     $ 34,938,901  
    Cost of revenues   (40,041,385 )     (30,137,167 )
    Gross profit   18,781,047       4,801,734  
    Operating expenses:              
    Research and development expenses   (2,815,518 )     (3,023,961 )
    Sales and marketing expenses   (1,724,032 )     (896,050 )
    General and administrative expenses   (4,092,527 )     (3,804,137 )
    Allowance of credit losses and bad debts written off, net   114,013       58,395  
    Total operating expenses   (8,518,064 )     (7,665,753 )
    Operating income (loss)   10,262,983       (2,864,019 )
    Finance income, net   9,663       45,120  
    Other income, net   367,438       712,792  
    Share of (loss) income of equity investee   (18,824 )     55,125  
    Income (loss) before income tax   10,621,260       (2, 050,982 )
    Income tax expenses   (1,048,786 )     –  
    Net income (loss)   9,572,474       (2, 050,982 )
    Less: Net loss attributable to non-controlling interests   263,976       471,748  
    Net income (loss) attributable to shareholders of CBAK Energy Technology, Inc. $ 9,836,450     $ (1,579,234 )
                   
    Net income (loss)   9,572,474       (2,050,982 )
    Other comprehensive income (loss)              
    – Foreign currency translation adjustment   (1,906,048 )     699,844  
    Comprehensive income (loss)   7,666,426       (1,315,138 )
    Less: Comprehensive loss attributable to non-controlling interests   274,223       442,816  
    Comprehensive income (loss) attributable to CBAK Energy Technology, Inc. $ 7,940,649     $ (908,322 )
                   
    Income (loss) per share              
    – Basic $ 0.11     $ (0.02 )
    – Diluted $ 0.11     $ (0.02 )
                   
    Weighted average number of shares of common stock:              
    – Basic   89,925,024       89,938,690  
    – Diluted   90,123,965       89,938,690  

    The MIL Network –

    May 19, 2025

  • MIL-OSI: Qorvo® Announces Intent to Nominate Peter Feld of Starboard Value for Election to the Board at the 2025 Annual Meeting

    Source: GlobeNewswire (MIL-OSI)

    GREENSBORO, N.C., May 19, 2025 (GLOBE NEWSWIRE) — Qorvo® (NASDAQ: QRVO), a leading global provider of connectivity and power solutions, today announced that its Board of Directors (the “Board”) has resolved to increase the size of the Board from nine to ten directors and to include Peter Feld as one of the Company’s director nominees in its proxy statement for the Company’s 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”).

    The Board has also resolved to recommend that stockholders vote in favor of all Company director nominees, including Mr. Feld, at the 2025 Annual Meeting.

    Given the Company’s intention to nominate Mr. Feld, Starboard has agreed to rescind its nomination notice.

    Bob Bruggeworth, President and CEO of Qorvo, said, “Peter shares our goal of driving value for Qorvo shareholders and will bring additional technology industry knowledge and complementary perspectives, adding to our very qualified and experienced Board.”

    “We invested in Qorvo because of the tremendous potential we see in the Company’s strong product portfolio and leading industry position, which provide the foundation for Qorvo to drive continued improvement in growth, profitability, and value creation,” said Peter Feld, Managing Member of Starboard Value LP. “I am pleased to be nominated to the Board and look forward to working collaboratively with my fellow directors and the management team to help Qorvo capitalize on opportunities to drive long-term shareholder value.”

    About Peter A. Feld

    Peter A. Feld is a Managing Member, Portfolio Manager and Head of Research of Starboard Value LP since April 2011 and has significant expertise serving as a shareholder representative on numerous technology company boards that have created substantial value for shareholders. Mr. Feld has substantial experience in corporate finance, best-in-class corporate governance, and a deep understanding of capital markets. Prior to founding Starboard in 2011, Mr. Feld was a Managing Director and Head of Research at Ramius LLC for funds that comprised the Value and Opportunity investment platform. Prior to joining Ramius in February 2005, Mr. Feld was an analyst in the Technology Investment Banking group at Banc of America Securities LLC. Previously, he served as a member of the boards of directors of Gen Digital Inc., a global leader dedicated to powering Digital Freedom through its family of consumer brands, from September 2018 to May 2025; Green Dot Corporation, a financial technology company, from March 2022 to October 2023; GCP Applied Technologies, Inc., a technology company, from June 2020 until it was acquired by Compagnie de Saint-Gobain S.A. in September 2022; Magellan Health, Inc., a healthcare company, from March 2019 until it was acquired by Centene Corporation in January 2022; AECOM, a multinational infrastructure firm, from November 2019 to June 2020; Marvell Technology Group Ltd., a storage, networking and connectivity semiconductor solutions company, from May 2016 to June 2018; The Brink’s Company, a global leader in security-related services, from January 2016 to November 2017; Insperity, Inc., an industry-leading HR services provider, from March 2015 to June 2017; Darden Restaurants, Inc., a full-service restaurant company, from October 2014 to September 2015; Tessera Technologies, Inc. (n/k/a Xperi Corporation), a leading product and technology licensing company, from June 2013 to April 2014; and Integrated Device Technology, Inc., a company that designed, developed, manufactured and marketed a range of semiconductor solutions for the advanced communications, computing and consumer industries, from June 2012 to February 2014. Mr. Feld received a B.A. degree in Economics from Tufts University.

    About Qorvo

    Qorvo (Nasdaq:QRVO) supplies innovative semiconductor solutions that make a better world possible. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers’ most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including automotive, consumer, defense & aerospace, industrial & enterprise, infrastructure and mobile. Visit www.qorvo.com to learn how our diverse and innovative team is helping connect, protect and power our planet.

    Qorvo is a registered trademark of Qorvo, Inc. in the U.S. and in other countries. All other trademarks are the property of their respective owners.

    About Starboard Value LP

    Starboard Value LP is an investment adviser with a focused and fundamental approach to investing in publicly traded companies. Starboard seeks to invest in deeply undervalued companies and actively engage with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders. 

    Forward Looking Statements

    This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions, and are not historical facts and typically are identified by terms such as “may,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “forecast,” “predict,” “potential,” “continue” and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management’s current judgment and expectations as of the date the statement is first made, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We caution you not to place undue reliance upon any such forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under U.S. federal securities laws. Our business is subject to numerous risks and uncertainties, including those relating to fluctuations in our operating results on a quarterly and annual basis; our substantial dependence on developing new products and achieving design wins; our dependence on several large customers for a substantial portion of our revenue; a loss of revenue if defense and aerospace contracts are canceled or delayed; our dependence on third parties; risks related to sales through distributors; risks associated with the operation of our manufacturing facilities; business disruptions; poor manufacturing yields; increased inventory risks and costs, due to timing of customers’ forecasts; our inability to effectively manage or maintain relationships with chipset suppliers; our ability to continue to innovate in a very competitive industry; underutilization of manufacturing facilities; unfavorable changes in interest rates, pricing of certain precious metals, utility rates and foreign currency exchange rates; our acquisitions, divestitures and other strategic investments failing to achieve financial or strategic objectives; our ability to attract, retain and motivate key employees; warranty claims, product recalls and product liability; changes in our effective tax rate; enactment of international or domestic tax legislation, or changes in regulatory guidance; changes in the favorable tax status of certain of our subsidiaries; risks associated with social, environmental, health and safety regulations, and climate change; risks from international sales and operations; economic regulation in China; changes in government trade policies, including imposition of tariffs and export restrictions; we may not be able to generate sufficient cash to service all of our debt; restrictions imposed by the agreements governing our debt; our reliance on our intellectual property portfolio; claims of infringement of third-party intellectual property rights; security breaches, failed system upgrades or regular maintenance and other similar disruptions to our IT systems; theft, loss or misuse of personal data by or about our employees, customers or third parties; provisions in our governing documents and Delaware law may discourage takeovers and business combinations that our stockholders might consider to be in their best interests; and volatility in the price of our common stock. These and other risks and uncertainties, which are described in more detail under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended March 30, 2024, and Qorvo’s subsequent reports and statements that we file with the SEC, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.

    At Qorvo®
    Doug DeLieto
    VP, Investor Relations
    1.336.678.7968

    The MIL Network –

    May 19, 2025
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