Category: Renewable Hydrogen

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

    US Senate News:

    Source: United States Senator for Colorado Michael Bennet

    Photos from Press Conference HERE 

    Denver — Colorado U.S. Senators Michael Bennet and John Hickenlooper, U.S. Representatives Joe Neguse and Brittany Pettersen, and Governor Jared Polis welcomed over $129.5 million from the U.S. Department of Transportation (DOT) for four Colorado rail projects. The Colorado Department of Transportation (CDOT), Colorado State University (CSU) Pueblo, San Luis Central Railroad, and OmniTRAX will all receive funding as part of DOT’s Consolidated Rail Infrastructure & Safety Improvements Grant Program, funded in part through the Bipartisan Infrastructure Law. The leaders held a press conference on Tuesday in Westminster, Colorado, to celebrate this announcement.

    “Colorado’s railways are vital to connect our communities and get resources to markets across the country. That’s why I ensured the U.S. Department of Transportation understood how critical this funding is for our state’s transportation infrastructure,” said Bennet. “I’m glad to have helped secure these investments in our railways’ safety, efficiency, and reliability across the state. ”

    “From freight in the San Luis Valley to passengers on the Front Range and beyond with CSU Pueblo’s research, rail isn’t just a part of our past, it’s a big part of our future, too,” said Hickenlooper. “That’s the case we made to Secretary Buttigieg for this funding and this is just the start.” 

    “After years of working to secure federal support for the Front Range Passenger Rail Project, I am excited to see the Department of Transportation heed our calls and commit to modernizing Colorado’s passenger rail system—not just for communities along the Front Range but for residents throughout the entire state. This is a once-in-a-generation investment in our passenger rail infrastructure, creating countless new opportunities for communities to connect, grow, and thrive—and we will continue to work together to ensure this momentum leads to lasting benefits for all Coloradans,” said Neguse.

    “Today, I am incredibly grateful to see this federal funding coming to Colorado to strengthen our railway systems, enhance safety, and modernize our infrastructure,” said Pettersen. “After a train derailment in Boulder injured workers and put our communities at risk, I supported funding to reinforce public safety and restore trust in Colorado’s rail infrastructure. I’m pleased to see these federal dollars coming to our state to help ensure we have safe, reliable infrastructure for generations to come.”

    “Today’s grant will make freight rail traffic in some of our busiest growing communities safer quickly while providing critical building blocks for Passenger Rail.  This major funding will help achieve important priorities like complying with longstanding federal standards and improving the safety of rail crossings, which can be the sites of dangerous incidents. With more than $66 million in federal support from the Biden-Harris administration, the future of Colorado’s rail network is a clear priority for the federal government, as it should be. We thank Senators Hickenlooper and Bennet, Congressman Neguse and Congresswoman Pettersen, and our communities for their support of this important project,” said Polis.

    This funding includes:

    • $66.4 million for CDOT to modernize Front Range rail. This investment will help CDOT design, install, and test train operation and safety improvements, including Positive Train Control (PTC) and railroad crossings;
    • $50.5 million for OmniTRAX transportation safety and employment. This investment will help design and construct replacement railroad ties across Omnitrax short lines;
    • $11.6 million for CSU Pueblo to research renewable energy for rail vehicles. This investment will aid research and development of alternative fuel rail transportation, including safety experiments on the use of CH2/CNG-powered rail cars at the facility; and
    • $1 million for San Luis Central Railroad to replace wooden ties. This investment will help replace deteriorated cross and switch ties to ensure safety along the SLC corridor.

    “Southern Colorado often represents a hard-working spirit leveraging the opportunity of innovation. This Department of Transportation CRISI grant emboldens that spirit, enabling CSU Pueblo, in partnership with the Southern Colorado Transportation Technology Center (SCITT), to contribute to the future of rail transportation through critical safety research in hydrogen and natural gas technologies. I am particularly proud of how this project will partner with our Engineering program at CSU Pueblo, utilizing the expertise here to create new pathways for our students and local workforce. This grant is more than research – it’s a valuable investment into Southern Colorado,” said Armando Valdez, President, CSU Pueblo.

    “TIES2 will be transformative for the communities served by Great Western Railway of Colorado and the regions served by OmniTRAX railroads in Georgia, Alabama, and Washington state,” said David Arganbright, Senior Vice President, OmniTRAX. “OmniTRAX is proud to call Colorado home, and we are tremendously appreciative of all the work that Sen. Hickenlooper has done in Congress to champion Colorado’s railways and deliver the critical infrastructure investments that strengthen our nation’s supply chains.”

    Earlier this year, Bennet, Hickenlooper, Neguse and Pettersen urged the DOT to fund CDOT’s project along the Front Range.

    MIL OSI USA News

  • MIL-OSI: Precision Drilling Announces 2024 Third Quarter Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Oct. 29, 2024 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. This news release contains references to certain Financial Measures and Ratios, including Adjusted EBITDA (earnings before income taxes, loss (gain) on investments and other assets, gain on repurchase of unsecured senior notes, finance charges, foreign exchange, gain on asset disposals and depreciation and amortization), Funds Provided by (Used in) Operations, Net Capital Spending, Working Capital and Total Long-term Financial Liabilities. These terms do not have standardized meanings prescribed under International Financial Reporting Standards (IFRS) Accounting Standards and may not be comparable to similar measures used by other companies. See “Financial Measures and Ratios” later in this news release.

    Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) delivered strong third quarter financial results, demonstrating the resilience of the business and its robust cash flow potential. Year to date, Precision has already achieved the low end of its debt reduction target range and is well on track to allocate 25% to 35% of its free cash flow to share buybacks in 2024.

    Financial Highlights

    • Revenue was $477 million and exceeded the $447 million realized in the third quarter of 2023 as activity increased in Canada and internationally, which more than offset lower activity in the U.S.
    • Adjusted EBITDA(1) was $142 million, including a share-based compensation recovery of $0.2 million. In 2023, third quarter Adjusted EBITDA was $115 million and included share-based compensation charges of $31 million.
    • Net earnings was $39 million or $2.77 per share, nearly doubling the $20 million or $1.45 per share in 2023.
    • Completion and Production Services revenue increased 27% over the same period last year to $73 million, while Adjusted EBITDA rose 40% to $20 million, reflecting the successful integration of the CWC Energy Services (CWC) acquisition in late 2023.
    • Internationally, revenue increased 21% over the third quarter of last year as the Company realized US$35 million of contract drilling revenue versus US$29 million in 2023. Revenue for the third quarter of 2024 was negatively impacted by fewer rig moves and planned rig recertifications that accounted for 44 non-billable utilization days.
    • Debt reduction during the quarter was $49 million and total $152 million year to date. Share repurchases during the quarter were $17 million and total $50 million year to date.
    • Increased our 2024 planned capital expenditures from $195 million to $210 million to fund multiple contracted rig upgrades and the strategic purchase of drill pipe for use in 2025.

    Operational Highlights

    • Canada’s activity increased 25%, averaging 72 active drilling rigs versus 57 in the third quarter of 2023. Our Super Triple and Super Single rigs are in high demand and approaching full utilization.
    • Canadian revenue per utilization day was $32,325 and comparable to the $32,224 in the same period last year.
    • U.S. activity averaged 35 drilling rigs compared to 41 for the third quarter of 2023.
    • U.S. revenue per utilization day was US$32,949 versus US$35,135 in the same quarter last year.
    • International activity increased 33% compared to the third quarter of 2023, with eight drilling rigs fully contracted this year following rig reactivations in 2023. International revenue per utilization day was US$47,223 compared to US$51,570 in the third quarter of 2023 due to fewer rig moves and planned rig recertifications completed in 2024.
    • Service rig operating hours increased 34% over the same quarter last year totaling 62,835 hours driven by the CWC acquisition.
    • Formed a strategic Joint Partnership (Partnership) with Indigenous partners to provide well servicing operations in northeast British Columbia.

    (1) See “FINANCIAL MEASURES AND RATIOS.”

    MANAGEMENT COMMENTARY

    “Precision’s international and Canadian businesses led our third quarter results, with revenue, Adjusted EBITDA, and net income all improving over the same period last year, demonstrating the resilience of our High Performance, High Value strategy and geographic exposure. Our cash flow conversion this quarter enabled us to repay debt, buy back shares, and continue to invest in our Super Series fleet. We have already achieved the low end of our debt repayment target range for this year and expect to be less than a year away from meeting our long-term target of a Net Debt to Adjusted EBITDA ratio(1) of less than one time.

    “Canadian fundamentals for heavy oil, condensate, and LNG remain strong due to the additional takeaway capacity. The Trans Mountain oil pipeline expansion is driving higher and stable returns for producers, who are accelerating heavy oil and condensate targeted drilling plans, while Canada’s first LNG project is expected to stabilize natural gas pricing and further stimulate activity in the Montney in 2025. As the leading provider of high-quality and reliable services in Canada, demand for our Super Series fleet remains high. Today, we have 75 rigs operating, with our Super Triple and Super Single rigs nearly fully utilized. We expect strong customer demand and utilization to continue well beyond 2025.

    “In the U.S., our rig count has been range-bound for the last several months, with 35 rigs operating today. Volatile commodity prices, customer consolidation, and budget exhaustion are all headwinds that we expect will continue to suppress activity for the remainder of the year. We are encouraged by recent momentum in our contract book with seven new contracts secured for oil and natural gas drilling projects that are expected to begin late this year for 2025 drilling programs. Looking ahead, we anticipate that the next wave of additional Gulf Coast LNG export facilities, coal plant retirements, and a build-out of AI data centers should drive further natural gas drilling and support sustained natural gas demand.

    “Precision’s international operations provide a stable foundation for earnings and cash flow as our rigs are under long-term contracts that extend into 2028. Our well servicing business further complements our stability as we remain the premier well service provider in Canada where demand continues to outpace manned service rigs. In 2023, we repositioned these businesses with rig reactivations and our CWC acquisition and as a result, each business is on track to increase its 2024 Adjusted EBITDA by approximately 50% over the prior year.

    “I am proud of the discipline Precision continues to show throughout the organization and we remain focused on our strategic priorities, which include generating free cash flow, improving capital returns to shareholders, and delivering operational excellence. With robust Canadian market fundamentals, an improving long-term outlook for the U.S., and a focused strategy, I am confident we will continue to drive higher total shareholder returns. I would like to thank our team for executing at the highest operating levels and generating strong financial performance and value for our customers,” stated Kevin Neveu, Precision’s President and CEO.

    (1) See “FINANCIAL MEASURES AND RATIOS.”

    SELECT FINANCIAL AND OPERATING INFORMATION

    Financial Highlights

      For the three months ended September 30,     For the nine months ended September 30,  
    (Stated in thousands of Canadian dollars, except per share amounts)   2024       2023     % Change       2024       2023     % Change  
    Revenue   477,155       446,754       6.8       1,434,157       1,430,983       0.2  
    Adjusted EBITDA(1)   142,425       114,575       24.3       400,695       459,887       (12.9 )
    Net earnings   39,183       19,792       98.0       96,400       142,522       (32.4 )
    Cash provided by operations   79,674       88,500       (10.0 )     319,292       330,316       (3.3 )
    Funds provided by operations(1)   113,322       91,608       23.7       342,837       388,220       (11.7 )
                                       
    Cash used in investing activities   38,852       34,278       13.3       141,032       157,157       (10.3 )
    Capital spending by spend category(1)                                  
    Expansion and upgrade   7,709       13,479       (42.8 )     30,501       39,439       (22.7 )
    Maintenance and infrastructure   56,139       38,914       44.3       127,297       108,463       17.4  
    Proceeds on sale   (5,647 )     (6,698 )     (15.7 )     (21,825 )     (20,724 )     5.3  
    Net capital spending(1)   58,201       45,695       27.4       135,973       127,178       6.9  
                                       
    Net earnings per share:                                  
    Basic   2.77       1.45       91.0       6.74       10.45       (35.5 )
    Diluted   2.31       1.45       59.3       6.73       9.84       (31.6 )
    Weighted average shares outstanding:                                  
    Basic   14,142       13,607       3.9       14,312       13,643       4.9  
    Diluted   14,890       13,610       9.4       14,317       14,858       (3.6 )

    (1) See “FINANCIAL MEASURES AND RATIOS.”

    Operating Highlights

      For the three months ended September 30,     For the nine months ended September 30,  
      2024     2023     % Change     2024     2023     % Change  
    Contract drilling rig fleet   214       224       (4.5 )     214       224       (4.5 )
    Drilling rig utilization days:                                  
    U.S.   3,196       3,815       (16.2 )     9,885       13,823       (28.5 )
    Canada   6,586       5,284       24.6       17,667       15,247       15.9  
    International   736       554       32.9       2,192       1,439       52.3  
    Revenue per utilization day:                                  
    U.S. (US$)   32,949       35,135       (6.2 )     33,011       35,216       (6.3 )
    Canada (Cdn$)   32,325       32,224       0.3       34,497       32,583       5.9  
    International (US$)   47,223       51,570       (8.4 )     51,761       51,306       0.9  
    Operating costs per utilization day:                                  
    U.S. (US$)   22,207       21,655       2.5       22,113       20,217       9.4  
    Canada (Cdn$)   19,448       18,311       6.2       20,196       19,239       5.0  
                                       
    Service rig fleet   165       121       36.4       165       121       36.4  
    Service rig operating hours   62,835       46,894       34.0       194,390       144,944       34.1  


    Drilling Activity

      Average for the quarter ended 2023   Average for the quarter ended 2024  
      Mar. 31     June 30     Sept. 30     Dec. 31     Mar. 31     June 30     Sept. 30  
    Average Precision active rig count(1):                                        
    U.S.   60       51       41       45       38       36       35  
    Canada   69       42       57       64       73       49       72  
    International   5       5       6       8       8       8       8  
    Total   134       98       104       117       119       93       115  

    (1) Average number of drilling rigs working or moving.

    Financial Position

    (Stated in thousands of Canadian dollars, except ratios) September 30, 2024     December 31, 2023(2)  
    Working capital(1)   166,473       136,872  
    Cash   24,304       54,182  
    Long-term debt   787,008       914,830  
    Total long-term financial liabilities(1)   858,765       995,849  
    Total assets   2,887,996       3,019,035  
    Long-term debt to long-term debt plus equity ratio (1)   0.32       0.37  

    (1) See “FINANCIAL MEASURES AND RATIOS.”
    (2) Comparative period figures were restated due to a change in accounting policy. See “CHANGE IN ACCOUNTING POLICY.”

    Summary for the three months ended September 30, 2024:

    • Revenue increased to $477 million compared with $447 million in the third quarter of 2023 as a result of higher Canadian and international activity, partially offset by lower U.S. activity, day rates and lower idle but contract rig revenue.
    • Adjusted EBITDA was $142 million as compared with $115 million in 2023, primarily due to increased Canadian and international results and lower share-based compensation. Please refer to “Other Items” later in this news release for additional information on share-based compensation.
    • Adjusted EBITDA as a percentage of revenue was 30% as compared with 26% in 2023.
    • Generated cash from operations of $80 million, reduced debt by $49 million, repurchased $17 million of shares, and ended the quarter with $24 million of cash and more than $500 million of available liquidity.
    • Revenue per utilization day, excluding the impact of idle but contracted rigs was US$32,949 compared with US$33,543 in 2023, a decrease of 2%. Sequentially, revenue per utilization day, excluding idle but contracted rigs, was largely consistent with the second quarter of 2024. U.S. revenue per utilization day was US$32,949 compared with US$35,135 in 2023. The decrease was primarily the result of lower fleet average day rates and idle but contracted rig revenue, partially offset by higher recoverable costs. We did not recognize revenue from idle but contracted rigs in the quarter as compared with US$6 million in 2023.
    • U.S. operating costs per utilization day increased to US$22,207 compared with US$21,655 in 2023. The increase is mainly due to higher recoverable costs and fixed costs being spread over fewer activity days, partially offset by lower repairs and maintenance. Sequentially, operating costs per utilization day were largely consistent with the second quarter of 2024.
    • Canadian revenue per utilization day was $32,325, largely consistent with the $32,224 realized in 2023. Sequentially, revenue per utilization day decreased $3,750 due to our rig mix, partially offset by higher fleet-wide average day rates.
    • Canadian operating costs per utilization day increased to $19,448, compared with $18,311 in 2023, resulting from higher repairs and maintenance and rig reactivation costs. Sequentially, daily operating costs decreased $2,204 due to lower labour expenses due to rig mix, recoverable expenses and repairs and maintenance.
    • Internationally, third quarter revenue increased 21% over 2023 as we realized revenue of US$35 million versus US$29 million in the prior year. Our higher revenue was primarily the result of a 33% increase in activity, partially offset by lower average revenue per utilization day. International revenue per utilization day was US$47,223 compared with US$51,570 in 2023 due to fewer rig moves and planned rig recertifications that accounted for 44 non-billable utilization days.
    • Completion and Production Services revenue was $73 million, an increase of $16 million from 2023, as our third quarter service rig operating hours increased 34%.
    • General and administrative expenses were $23 million as compared with $44 million in 2023 primarily due to lower share-based compensation charges.
    • Net finance charges were $17 million, a decrease of $3 million compared with 2023 as a result of lower interest expense on our outstanding debt balance.
    • Capital expenditures were $64 million compared with $52 million in 2023 and by spend category included $8 million for expansion and upgrades and $56 million for the maintenance of existing assets, infrastructure, and intangible assets.
    • Increased expected capital spending in 2024 to $210 million, an increase of $15 million, due to the strategic purchase of drill pipe before new import tariffs take effect and additional customer-backed upgrades.
    • Income tax expense for the quarter was $14 million as compared with $8 million in 2023. During the third quarter, we continue to not recognize deferred tax assets on certain international operating losses.
    • Reduced debt by $49 million from the redemption of US$33 million of 2026 unsecured senior notes and US$3 million repayment of our U.S. Real Estate Credit Facility.
    • Renewed our Normal Course Issuer Bid (NCIB) and repurchased $17 million of common shares during the third quarter.

    Summary for the nine months ended September 30, 2024:

    • Revenue for the first nine months of 2024 was $1,434 million, consistent 2023.
    • Adjusted EBITDA for the period was $401 million as compared with $460 million in 2023. Our lower Adjusted EBITDA was primarily attributed to decreased U.S. drilling results and higher share-based compensation, partially offset by the strengthening of Canadian and international results.
    • Cash provided by operations was $319 million as compared with $330 million in 2023. Funds provided by operations were $343 million, a decrease of $45 million from the comparative period.
    • General and administrative costs were $97 million, an increase of $14 million from 2023 primarily due to higher share-based compensation charges.
    • Net finance charges were $53 million, $10 million lower than 2023 due to our lower interest expense on our outstanding debt balance.
    • Capital expenditures were $158 million in 2024, an increase of $10 million from 2023. Capital spending by spend category included $31 million for expansion and upgrades and $127 million for the maintenance of existing assets, infrastructure, and intangible assets.
    • Reduced debt by $152 million from the redemption of US$89 million of 2026 unsecured senior notes and $31 million repayment of our Canadian and U.S. Real Estate Credit Facilities.
    • Repurchased $50 million of common shares under our NCIB.

    STRATEGY

    Precision’s vision is to be globally recognized as the High Performance, High Value provider of land drilling services. Our strategic priorities for 2024 are focused on increasing our capital returns to shareholders by delivering best-in-class service and generating free cash flow.

    Precision’s 2024 strategic priorities and the progress made during the third quarter are as follows:

    1. Concentrate organizational efforts on leveraging our scale and generating free cash flow.
      • Generated cash from operations of $80 million, bringing our year to date total to $319 million.
      • Increased utilization of our Super Single and Double rigs in the third quarter, driving Canadian drilling activity up 25% year over year.
      • Increased our third quarter Completion and Production Services operating hours and Adjusted EBITDA 34% and 40%, respectively, year over year. Achieved our $20 million annual synergies target from the CWC acquisition, which closed in November 2023.
      • Internationally, we realized US$35 million of contract drilling revenue versus US$29 million in 2023. Revenue for the third quarter of 2024 was negatively impacted by fewer rig moves and planned rig recertifications that accounted for 44 non-billable utilization days.
    2. Reduce debt by between $150 million and $200 million and allocate 25% to 35% of free cash flow before debt repayments for share repurchases.
      • Reduced debt by redeeming US$33 million of our 2026 unsecured senior notes and repaying US$3 million of our U.S. Real Estate Credit Facility. For the first nine months of the year, we have reduced debt by $152 million and already achieved the low end of our debt repayment target range.
      • Returned $17 million of capital to shareholders through share repurchases. Year to date we allocated $50 million of our free cash flow to share buybacks, which represents over 25% of free cash flow for the first nine months of the year and within our annual target range of 25% to 35%.
      • Remain firmly committed to our long-term debt reduction target of $600 million between 2022 and 2026 ($410 million achieved as of September 30, 2024), while moving direct shareholder capital returns towards 50% of free cash flow.
    3. Continue to deliver operational excellence in drilling and service rig operations to strengthen our competitive position and extend market penetration of our Alpha™ and EverGreen™ products.
      • Increased our Canadian drilling rig utilization days and well servicing rig operating hours over the third quarter of 2023, maintaining our position as the leading provider of high-quality and reliable services in Canada.
      • Nearly doubled our EverGreen™ revenue from the third quarter of 2023.
      • Continued to expand our EverGreen™ product offering on our Super Single rigs with hydrogen injection systems. EverGreenHydrogen™ reduces diesel consumption resulting in lower operating costs and greenhouse gas emissions for our customers.

    OUTLOOK

    The long-term outlook for global energy demand remains positive with rising demand for all types of energy including oil and natural gas driven by economic growth, increasing demand from third-world regions, and emerging energy sources of power demand. Oil prices are constructive, and producers remain disciplined with their production plans while geopolitical issues continue to threaten supply. In Canada, the recent commissioning of the Trans Mountain pipeline expansion and the startup of LNG Canada projected in 2025 are expected to provide significant tidewater access for Canadian crude oil and natural gas, supporting additional Canadian drilling activity. In the U.S., the next wave of LNG projects is expected to add approximately 11 bcf/d of export capacity from 2025 to 2028, supporting additional U.S. natural gas drilling activity. Coal retirements and a build-out of AI data centers could provide further support for natural gas drilling.

    In Canada, we currently have 75 rigs operating and expect this activity level to continue until spring breakup, except for the traditional slowdown over Christmas. Our Canadian drilling activity continues to outpace 2023 due to increased heavy oil drilling activity and strong Montney activity driven by robust condensate demand and pricing. Since the startup of the Trans Mountain pipeline expansion in May, customer activity in heavy oil targeted areas has exceeded expectations, resulting in near full utilization of our Super Single fleet. Customers are benefiting from improved commodity pricing and a weak Canadian dollar. Our Super Triple fleet, the preferred rig for Montney drilling, is also nearly fully utilized and with the expected startup of LNG Canada in mid-2025, demand could exceed supply.

    In recent years, the Canadian market has witnessed stronger second quarter drilling activity due to the higher percentage of wells drilled on pads in both the Montney and in heavy oil developments. Once a pad-equipped drilling rig is mobilized to site, it can walk from well to well and avoid spring break up road restrictions. We expect this higher activity trend to continue in the second quarter of 2025.

    In the U.S., we currently have 35 rigs operating as drilling activity remains constrained by volatile commodity prices, customer consolidation and budget exhaustion. We view these headwinds as short-term in nature, which will continue to suppress activity for the remainder of the year and into 2025. However, looking further ahead, we expect that a new budget cycle, the next wave of Gulf Coast LNG export facilities, and new sources of domestic power demand should begin to stimulate drilling.

    Internationally, we expect to have eight rigs running for the remainder of 2024, representing an approximate 40% increase in activity compared to 2023. All eight rigs are contracted through 2025 as well. We continue to bid our remaining idle rigs within the region and remain optimistic about our ability to secure additional rig activations.

    As the premier well service provider in Canada, the outlook for this business remains positive. We expect the Trans Mountain pipeline expansion and LNG Canada to drive more service-related activity, while increased regulatory spending requirements are expected to result in more abandonment work. Customer demand should remain strong, and with continued labor constraints, we expect firm pricing into the foreseeable future.

    We believe cost inflation is largely behind us and will continue to look for opportunities to lower costs.

    Contracts

    The following chart outlines the average number of drilling rigs under term contract by quarter as at October 29, 2024. For those quarters ending after September 30, 2024, this chart represents the minimum number of term contracts from which we will earn revenue. We expect the actual number of contracted rigs to vary in future periods as we sign additional term contracts.

    As at October 29, 2024   Average for the quarter ended 2023     Average     Average for the quarter ended 2024     Average  
        Mar. 31     June 30     Sept. 30     Dec. 31     2023     Mar. 31     June 30     Sept. 30     Dec. 31     2024  
    Average rigs under term contract:                                                            
    U.S.     40       37       32       28       34       20       17       17       16       18  
    Canada     19       23       23       23       22       24       22       23       24       23  
    International     4       5       7       7       6       8       8       8       8       8  
    Total     63       65       62       58       62       52       47       48       48       49  


    SEGMENTED FINANCIAL RESULTS

    Precision’s operations are reported in two segments: Contract Drilling Services, which includes our drilling rig, oilfield supply and manufacturing divisions; and Completion and Production Services, which includes our service rig, rental and camp and catering divisions.

      For the three months ended September 30,     For the nine months ended September 30,  
    (Stated in thousands of Canadian dollars)   2024     2023     % Change       2024     2023     % Change  
    Revenue:                                  
    Contract Drilling Services   406,155       390,728       3.9       1,215,125       1,257,762       (3.4 )
    Completion and Production Services   73,074       57,573       26.9       225,987       178,257       26.8  
    Inter-segment eliminations   (2,074 )     (1,547 )     34.1       (6,955 )     (5,036 )     38.1  
        477,155       446,754       6.8       1,434,157       1,430,983       0.2  
    Adjusted EBITDA:(1)                                  
    Contract Drilling Services   133,235       131,701       1.2       406,662       468,302       (13.2 )
    Completion and Production Services   19,741       14,118       39.8       50,786       39,031       30.1  
    Corporate and Other   (10,551 )     (31,244 )     (66.2 )     (56,753 )     (47,446 )     19.6  
        142,425       114,575       24.3       400,695       459,887       (12.9 )

    (1) See “FINANCIAL MEASURES AND RATIOS.”

    SEGMENT REVIEW OF CONTRACT DRILLING SERVICES

      For the three months ended September 30,     For the nine months ended September 30,  
    (Stated in thousands of Canadian dollars, except where noted)   2024       2023     % Change       2024       2023     % Change  
    Revenue   406,155       390,728       3.9       1,215,125       1,257,762       (3.4 )
    Expenses:                                  
    Operating   262,933       247,937       6.0       776,210       759,750       2.2  
    General and administrative   9,987       11,090       (9.9 )     32,253       29,710       8.6  
    Adjusted EBITDA(1)   133,235       131,701       1.2       406,662       468,302       (13.2 )
    Adjusted EBITDA as a percentage of revenue(1)   32.8 %     33.7 %           33.5 %     37.2 %      

    (1) See “FINANCIAL MEASURES AND RATIOS.”

    United States onshore drilling statistics:(1) 2024     2023  
      Precision     Industry(2)     Precision     Industry(2)  
    Average number of active land rigs for quarters ended:                      
    March 31   38       602       60       744  
    June 30   36       583       51       700  
    September 30   35       565       41       631  
    Year to date average   36       583       51       692  

    (1) United States lower 48 operations only.
    (2) Baker Hughes rig counts.

    Canadian onshore drilling statistics:(1) 2024     2023  
      Precision     Industry(2)     Precision     Industry(2)  
    Average number of active land rigs for quarters ended:                      
    March 31   73       208       69       221  
    June 30   49       134       42       117  
    September 30   72       207       57       188  
    Year to date average   65       183       56       175  

    (1) Canadian operations only.
    (2) Baker Hughes rig counts.

    SEGMENT REVIEW OF COMPLETION AND PRODUCTION SERVICES

      For the three months ended September 30,     For the nine months ended September 30,  
    (Stated in thousands of Canadian dollars, except where noted)   2024       2023     % Change       2024       2023        
    Revenue   73,074       57,573       26.9       225,987       178,257       26.8  
    Expenses:                                  
    Operating   50,608       41,612       21.6       167,128       133,325       25.4  
    General and administrative   2,725       1,843       47.9       8,073       5,901       36.8  
    Adjusted EBITDA(1)   19,741       14,118       39.8       50,786       39,031       30.1  
    Adjusted EBITDA as a percentage of revenue(1)   27.0 %     24.5 %           22.5 %     21.9 %      
    Well servicing statistics:                                  
    Number of service rigs (end of period)   165       121       36.4       165       121       36.4  
    Service rig operating hours   62,835       46,894       34.0       194,390       144,944       34.1  
    Service rig operating hour utilization   41 %     42 %           43 %     44 %      

    (1) See “FINANCIAL MEASURES AND RATIOS.”

    OTHER ITEMS

    Share-based Incentive Compensation Plans

    We have several cash and equity-settled share-based incentive plans for non-management directors, officers, and other eligible employees. Our accounting policies for each share-based incentive plan can be found in our 2023 Annual Report.

    A summary of expense amounts under these plans during the reporting periods are as follows:

      For the three months ended September 30,     For the nine months ended September 30,  
    (Stated in thousands of Canadian dollars) 2024     2023     2024     2023  
    Cash settled share-based incentive plans   (1,626 )     30,105       28,810       20,091  
    Equity settled share-based incentive plans   1,440       701       3,517       1,834  
    Total share-based incentive compensation plan expense   (186 )     30,806       32,327       21,925  
                           
    Allocated:                      
    Operating   221       7,692       8,159       6,732  
    General and Administrative   (407 )     23,114       24,168       15,193  
        (186 )     30,806       32,327       21,925  


    CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES

    Because of the nature of our business, we are required to make judgements and estimates in preparing our Condensed Consolidated Interim Financial Statements that could materially affect the amounts recognized. Our judgements and estimates are based on our past experiences and assumptions we believe are reasonable in the circumstances. The critical judgements and estimates used in preparing the Condensed Consolidated Interim Financial Statements are described in our 2023 Annual Report.

    EVALUATION OF CONTROLS AND PROCEDURES

    Based on their evaluation as at September 30, 2024, Precision’s Chief Executive Officer and Chief Financial Officer concluded that the Corporation’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the United States Securities Exchange Act of 1934, as amended (the Exchange Act)), are effective to ensure that information required to be disclosed by the Corporation in reports that are filed or submitted to Canadian and U.S. securities authorities is recorded, processed, summarized and reported within the time periods specified in Canadian and U.S. securities laws. In addition, as at September 30, 2024, there were no changes in the internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) that occurred during the three months ended September 30, 2024 that have materially affected, or are reasonably likely to materially affect, the Corporation’s internal control over financial reporting. Management will continue to periodically evaluate the Corporation’s disclosure controls and procedures and internal control over financial reporting and will make any modifications from time to time as deemed necessary.

    Based on their inherent limitations, disclosure controls and procedures and internal control over financial reporting may not prevent or detect misstatements, and even those controls determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.

    FINANCIAL MEASURES AND RATIOS

    Non-GAAP Financial Measures
    We reference certain additional Non-Generally Accepted Accounting Principles (Non-GAAP) measures that are not defined terms under IFRS Accounting Standards to assess performance because we believe they provide useful supplemental information to investors.
    Adjusted EBITDA We believe Adjusted EBITDA (earnings before income taxes, loss (gain) on investments and other assets, gain on repurchase of unsecured senior notes, finance charges, foreign exchange, gain on asset disposals and depreciation and amortization), as reported in our Condensed Interim Consolidated Statements of Net Earnings and our reportable operating segment disclosures, is a useful measure because it gives an indication of the results from our principal business activities prior to consideration of how our activities are financed and the impact of foreign exchange, taxation and depreciation and amortization charges.

    The most directly comparable financial measure is net earnings.

      For the three months ended September 30,     For the nine months ended September 30,  
    (Stated in thousands of Canadian dollars)   2024       2023       2024       2023  
    Adjusted EBITDA by segment:                      
    Contract Drilling Services   133,235       131,701       406,662       468,302  
    Completion and Production Services   19,741       14,118       50,786       39,031  
    Corporate and Other   (10,551 )     (31,244 )     (56,753 )     (47,446 )
    Adjusted EBITDA   142,425       114,575       400,695       459,887  
    Depreciation and amortization   75,073       73,192       227,104       218,823  
    Gain on asset disposals   (3,323 )     (2,438 )     (14,235 )     (15,586 )
    Foreign exchange   849       363       772       (894 )
    Finance charges   16,914       19,618       53,472       63,946  
    Gain on repurchase of unsecured notes         (37 )           (137 )
    Loss (gain) on investments and other assets   (150 )     (3,813 )     (330 )     6,075  
    Incomes taxes   13,879       7,898       37,512       45,138  
    Net earnings   39,183       19,792       96,400       142,522  
    Funds Provided by (Used in) Operations We believe funds provided by (used in) operations, as reported in our Condensed Interim Consolidated Statements of Cash Flows, is a useful measure because it provides an indication of the funds our principal business activities generate prior to consideration of working capital changes, which is primarily made up of highly liquid balances.

    The most directly comparable financial measure is cash provided by (used in) operations.

    Net Capital Spending We believe net capital spending is a useful measure as it provides an indication of our primary investment activities.

    The most directly comparable financial measure is cash provided by (used in) investing activities.

    Net capital spending is calculated as follows:

        For the three months ended September 30,     For the nine months ended September 30,  
    (Stated in thousands of Canadian dollars)     2024       2023       2024       2023  
    Capital spending by spend category                        
    Expansion and upgrade     7,709       13,479       30,501       39,439  
    Maintenance, infrastructure and intangibles     56,139       38,914       127,297       108,463  
          63,848       52,393       157,798       147,902  
    Proceeds on sale of property, plant and equipment     (5,647 )     (6,698 )     (21,825 )     (20,724 )
    Net capital spending     58,201       45,695       135,973       127,178  
    Business acquisitions                       28,000  
    Proceeds from sale of investments and other assets           (10,013 )     (3,623 )     (10,013 )
    Purchase of investments and other assets     7       3,211       7       5,282  
    Receipt of finance lease payments     (207 )     (64 )     (591 )     (64 )
    Changes in non-cash working capital balances     (19,149 )     (4,551 )     9,266       6,774  
    Cash used in investing activities     38,852       34,278       141,032       157,157  
    Working Capital We define working capital as current assets less current liabilities, as reported in our Condensed Interim Consolidated Statements of Financial Position.

    Working capital is calculated as follows:

      September 30,     December 31,  
    (Stated in thousands of Canadian dollars)   2024       2023  
    Current assets   472,557       510,881  
    Current liabilities   306,084       374,009  
    Working capital   166,473       136,872  
    Total Long-term Financial Liabilities We define total long-term financial liabilities as total non-current liabilities less deferred tax liabilities, as reported in our Condensed Interim Consolidated Statements of Financial Position.

    Total long-term financial liabilities is calculated as follows:

      September 30,     December 31,  
    (Stated in thousands of Canadian dollars)   2024       2023  
    Total non-current liabilities   920,812       1,069,364  
    Deferred tax liabilities   62,047       73,515  
    Total long-term financial liabilities   858,765       995,849  
    Non-GAAP Ratios
    We reference certain additional Non-GAAP ratios that are not defined terms under IFRS to assess performance because we believe they provide useful supplemental information to investors.
    Adjusted EBITDA % of Revenue We believe Adjusted EBITDA as a percentage of consolidated revenue, as reported in our Condensed Interim Consolidated Statements of Net Earnings, provides an indication of our profitability from our principal business activities prior to consideration of how our activities are financed and the impact of foreign exchange, taxation and depreciation and amortization charges.
    Long-term debt to long-term debt plus equity We believe that long-term debt (as reported in our Condensed Interim Consolidated Statements of Financial Position) to long-term debt plus equity (total shareholders’ equity as reported in our Condensed Interim Consolidated Statements of Financial Position) provides an indication of our debt leverage.
    Net Debt to Adjusted EBITDA We believe that the Net Debt (long-term debt less cash, as reported in our Condensed Interim Consolidated Statements of Financial Position) to Adjusted EBITDA ratio provides an indication of the number of years it would take for us to repay our debt obligations.
    Supplementary Financial Measures
    We reference certain supplementary financial measures that are not defined terms under IFRS to assess performance because we believe they provide useful supplemental information to investors.
    Capital Spending by Spend Category We provide additional disclosure to better depict the nature of our capital spending. Our capital spending is categorized as expansion and upgrade, maintenance and infrastructure, or intangibles.


    CHANGE IN ACCOUNTING POLICY

    Precision adopted Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants – Amendments to IAS 1, as issued in 2020 and 2022. These amendments apply retrospectively for annual reporting periods beginning on or after January 1, 2024 and clarify requirements for determining whether a liability should be classified as current or non-current. Due to this change in accounting policy, there was a retrospective impact on the comparative Statement of Financial Position pertaining to the Corporation’s Deferred Share Unit (DSU) plan for non-management directors which are redeemable in cash or for an equal number of common shares upon the director’s retirement. In the case of a director retiring, the director’s respective DSU liability would become payable and the Corporation would not have the right to defer settlement of the liability for at least twelve months. As such, the liability is impacted by the revised policy. The following changes were made to the Statement of Financial Position:

    • As at January 1, 2023, accounts payable and accrued liabilities increased by $12 million and non-current share-based compensation liability decreased by $12 million.
    • As at December 31, 2023, accounts payable and accrued liabilities increased by $8 million and non-current share-based compensation liability decreased by $8 million.

    The Corporation’s other liabilities were not impacted by the amendments. The change in accounting policy will also be reflected in the Corporation’s consolidated financial statements as at and for the year ending December 31, 2024.

    JOINT PARTNERSHIP

    On September 26, 2024, Precision formed a strategic Partnership with two Indigenous partners to provide well servicing operations in northeast British Columbia. Precision contributed $4 million in assets to the Partnership. Precision holds a controlling interest in the Partnership and the portions of the net earnings and equity not attributable to Precision’s controlling interest are shown separately as Non-Controlling Interests (NCI) in the consolidated statements of net earnings and consolidated statements of financial position.

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS

    Certain statements contained in this release, including statements that contain words such as “could”, “should”, “can”, “anticipate”, “estimate”, “intend”, “plan”, “expect”, “believe”, “will”, “may”, “continue”, “project”, “potential” and similar expressions and statements relating to matters that are not historical facts constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking information and statements”).

    In particular, forward-looking information and statements include, but are not limited to, the following:

    • our strategic priorities for 2024;
    • our capital expenditures, free cash flow allocation and debt reduction plans for 2024 through to 2026;
    • anticipated activity levels, demand for our drilling rigs, day rates and daily operating margins in 2024;
    • the average number of term contracts in place for 2024;
    • customer adoption of Alpha™ technologies and EverGreen™ suite of environmental solutions;
    • timing and amount of synergies realized from acquired drilling and well servicing assets;
    • potential commercial opportunities and rig contract renewals; and
    • our future debt reduction plans.

    These forward-looking information and statements are based on certain assumptions and analysis made by Precision in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. These include, among other things:

    • our ability to react to customer spending plans as a result of changes in oil and natural gas prices;
    • the status of current negotiations with our customers and vendors;
    • customer focus on safety performance;
    • existing term contracts are neither renewed nor terminated prematurely;
    • our ability to deliver rigs to customers on a timely basis;
    • the impact of an increase/decrease in capital spending; and
    • the general stability of the economic and political environments in the jurisdictions where we operate.

    Undue reliance should not be placed on forward-looking information and statements. Whether actual results, performance or achievements will conform to our expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from our expectations. Such risks and uncertainties include, but are not limited to:

    • volatility in the price and demand for oil and natural gas;
    • fluctuations in the level of oil and natural gas exploration and development activities;
    • fluctuations in the demand for contract drilling, well servicing and ancillary oilfield services;
    • our customers’ inability to obtain adequate credit or financing to support their drilling and production activity;
    • changes in drilling and well servicing technology, which could reduce demand for certain rigs or put us at a competitive advantage;
    • shortages, delays and interruptions in the delivery of equipment supplies and other key inputs;
    • liquidity of the capital markets to fund customer drilling programs;
    • availability of cash flow, debt and equity sources to fund our capital and operating requirements, as needed;
    • the impact of weather and seasonal conditions on operations and facilities;
    • competitive operating risks inherent in contract drilling, well servicing and ancillary oilfield services;
    • ability to improve our rig technology to improve drilling efficiency;
    • general economic, market or business conditions;
    • the availability of qualified personnel and management;
    • a decline in our safety performance which could result in lower demand for our services;
    • changes in laws or regulations, including changes in environmental laws and regulations such as increased regulation of hydraulic fracturing or restrictions on the burning of fossil fuels and greenhouse gas emissions, which could have an adverse impact on the demand for oil and natural gas;
    • terrorism, social, civil and political unrest in the foreign jurisdictions where we operate;
    • fluctuations in foreign exchange, interest rates and tax rates; and
    • other unforeseen conditions which could impact the use of services supplied by Precision and Precision’s ability to respond to such conditions.

    Readers are cautioned that the forgoing list of risk factors is not exhaustive. Additional information on these and other factors that could affect our business, operations or financial results are included in reports on file with applicable securities regulatory authorities, including but not limited to Precision’s Annual Information Form for the year ended December 31, 2023, which may be accessed on Precision’s SEDAR+ profile at www.sedarplus.ca or under Precision’s EDGAR profile at www.sec.gov. The forward-looking information and statements contained in this release are made as of the date hereof and Precision undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by law.

    CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

    (Stated in thousands of Canadian dollars)   September 30,
    2024
        December 31,
    2023(1)
        January 1,
    2023(1)
     
    ASSETS            
    Current assets:                  
    Cash   $ 24,304     $ 54,182     $ 21,587  
    Accounts receivable     401,652       421,427       413,925  
    Inventory     41,398       35,272       35,158  
    Assets held for sale     5,203              
    Total current assets     472,557       510,881       470,670  
    Non-current assets:                  
    Income tax recoverable     696       682       1,602  
    Deferred tax assets     27,767       73,662       455  
    Property, plant and equipment     2,296,079       2,338,088       2,303,338  
    Intangibles     15,566       17,310       19,575  
    Right-of-use assets     63,708       63,438       60,032  
    Finance lease receivables     4,938       5,003        
    Investments and other assets     6,685       9,971       20,451  
    Total non-current assets     2,415,439       2,508,154       2,405,453  
    Total assets   $ 2,887,996     $ 3,019,035     $ 2,876,123  
                       
    LIABILITIES AND EQUITY                  
    Current liabilities:                  
    Accounts payable and accrued liabilities   $ 282,810     $ 350,749     $ 404,350  
    Income taxes payable     3,059       3,026       2,991  
    Current portion of lease obligations     19,263       17,386       12,698  
    Current portion of long-term debt     952       2,848       2,287  
    Total current liabilities     306,084       374,009       422,326  
                       
    Non-current liabilities:                  
    Share-based compensation     10,339       16,755       47,836  
    Provisions and other     7,408       7,140       7,538  
    Lease obligations     54,010       57,124       52,978  
    Long-term debt     787,008       914,830       1,085,970  
    Deferred tax liabilities     62,047       73,515       28,946  
    Total non-current liabilities     920,812       1,069,364       1,223,268  
    Equity:                  
    Shareholders’ capital     2,337,079       2,365,129       2,299,533  
    Contributed surplus     76,656       75,086       72,555  
    Deficit     (915,629 )     (1,012,029 )     (1,301,273 )
    Accumulated other comprehensive income     158,602       147,476       159,714  
    Total equity attributable to shareholders     1,656,708       1,575,662       1,230,529  
    Non-controlling interest     4,392              
    Total equity     1,661,100       1,575,662       1,230,529  
    Total liabilities and equity   $ 2,887,996     $ 3,019,035     $ 2,876,123  

    (1) Comparative period figures were restated due to a change in accounting policy. See “CHANGE IN ACCOUNTING POLICY.”

    (2) See “JOINT PARTNERSHIP” for additional information.

    CONDENSED
    INTERIM CONSOLIDATED STATEMENTS OF NET EARNINGS (LOSS) (UNAUDITED)

        Three Months Ended September 30,     Nine Months Ended September 30,  
    (Stated in thousands of Canadian dollars, except per share amounts)   2024     2023     2024     2023  
                             
                             
    Revenue   $ 477,155     $ 446,754     $ 1,434,157     $ 1,430,983  
    Expenses:                        
    Operating     311,467       288,002       936,383       888,039  
    General and administrative     23,263       44,177       97,079       83,057  
    Earnings before income taxes, loss (gain) on investments and other assets, gain on repurchase of unsecured senior notes, finance charges, foreign exchange, gain on asset disposals, and depreciation and amortization     142,425       114,575       400,695       459,887  
    Depreciation and amortization     75,073       73,192       227,104       218,823  
    Gain on asset disposals     (3,323 )     (2,438 )     (14,235 )     (15,586 )
    Foreign exchange     849       363       772       (894 )
    Finance charges     16,914       19,618       53,472       63,946  
    Gain on repurchase of unsecured senior notes           (37 )           (137 )
    Loss (gain) on investments and other assets     (150 )     (3,813 )     (330 )     6,075  
    Earnings before income taxes     53,062       27,690       133,912       187,660  
    Income taxes:                        
    Current     2,297       2,047       4,659       4,008  
    Deferred     11,582       5,851       32,853       41,130  
          13,879       7,898       37,512       45,138  
    Net earnings   $ 39,183     $ 19,792     $ 96,400     $ 142,522  
    Net earnings per share attributable to shareholders:                        
    Basic   $ 2.77     $ 1.45     $ 6.74     $ 10.45  
    Diluted   $ 2.31     $ 1.45     $ 6.73     $ 9.84  


    CONDENSED
    INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

        Three Months Ended September 30,     Nine Months Ended September 30,  
    (Stated in thousands of Canadian dollars)   2024     2023     2024     2023  
    Net earnings   $ 39,183     $ 19,792     $ 96,400     $ 142,522  
    Unrealized gain (loss) on translation of assets and liabilities of operations denominated in foreign currency     (16,104 )     39,180       30,409       3,322  
    Foreign exchange gain (loss) on net investment hedge with U.S. denominated debt     9,536       (24,616 )     (19,283 )     (1,484 )
    Comprehensive income   $ 32,615     $ 34,356     $ 107,526     $ 144,360  


    CONDENSED
    INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

        Three Months Ended September 30,     Nine Months Ended September 30,  
    (Stated in thousands of Canadian dollars)   2024     2023     2024     2023  
    Cash provided by (used in):                        
    Operations:                        
    Net earnings   $ 39,183     $ 19,792     $ 96,400     $ 142,522  
    Adjustments for:                        
    Long-term compensation plans     2,620       11,577       14,490       9,200  
    Depreciation and amortization     75,073       73,192       227,104       218,823  
    Gain on asset disposals     (3,323 )     (2,438 )     (14,235 )     (15,586 )
    Foreign exchange     815       1,275       965       (13 )
    Finance charges     16,914       19,618       53,472       63,946  
    Income taxes     13,879       7,898       37,512       45,138  
    Other     27             120       (220 )
    Loss (gain) on investments and other assets     (150 )     (3,813 )     (330 )     6,075  
    Gain on repurchase of unsecured senior notes           (37 )           (137 )
    Income taxes paid     (508 )     (187 )     (4,842 )     (2,395 )
    Income taxes recovered     58       4       58       7  
    Interest paid     (31,692 )     (35,500 )     (69,435 )     (79,702 )
    Interest received     426       227       1,558       562  
    Funds provided by operations     113,322       91,608       342,837       388,220  
    Changes in non-cash working capital balances     (33,648 )     (3,108 )     (23,545 )     (57,904 )
    Cash provided by operations     79,674       88,500       319,292       330,316  
                             
    Investments:                        
    Purchase of property, plant and equipment     (63,797 )     (51,546 )     (157,747 )     (146,378 )
    Purchase of intangibles     (51 )     (847 )     (51 )     (1,524 )
    Proceeds on sale of property, plant and equipment     5,647       6,698       21,825       20,724  
    Proceeds from sale of investments and other assets           10,013       3,623       10,013  
    Business acquisitions                       (28,000 )
    Purchase of investments and other assets     (7 )     (3,211 )     (7 )     (5,282 )
    Receipt of finance lease payments     207       64       591       64  
    Changes in non-cash working capital balances     19,149       4,551       (9,266 )     (6,774 )
    Cash used in investing activities     (38,852 )     (34,278 )     (141,032 )     (157,157 )
                             
    Financing:                        
    Issuance of long-term debt     10,900       23,600       10,900       162,649  
    Repayments of long-term debt     (59,658 )     (49,517 )     (162,506 )     (288,538 )
    Repurchase of share capital     (16,891 )           (50,465 )     (12,951 )
    Issuance of common shares from the exercise of options     495             686        
    Debt amendment fees                 (1,317 )      
    Lease payments     (3,586 )     (2,410 )     (10,005 )     (6,413 )
    Funding from non-controlling interest     4,392             4,392        
    Cash used in financing activities     (64,348 )     (28,327 )     (208,315 )     (145,253 )
    Effect of exchange rate changes on cash     (403 )     251       177       (428 )
    Increase (decrease) in cash     (23,929 )     26,146       (29,878 )     27,478  
    Cash, beginning of period     48,233       22,919       54,182       21,587  
    Cash, end of period   $ 24,304     $ 49,065     $ 24,304     $ 49,065  


    CONDENSED
    INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED)

        Attributable to shareholders of the Corporation            
    (Stated in thousands of Canadian dollars)   Shareholders’
    Capital
        Contributed
    Surplus
        Accumulated
    Other
    Comprehensive
    Income
        Deficit     Total     Non-
    controlling interest
        Total
    Equity
     
    Balance at January 1, 2024   $ 2,365,129     $ 75,086     $ 147,476     $ (1,012,029 )   $ 1,575,662     $     $ 1,575,662  
    Net earnings for the period                       96,400       96,400             96,400  
    Other comprehensive income for the period                 11,126             11,126             11,126  
    Share options exercised     978       (292 )                 686             686  
    Settlement of Executive Performance and Restricted Share Units     21,846       (1,479 )                 20,367             20,367  
    Share repurchases     (51,050 )                       (51,050 )           (51,050 )
    Redemption of non-management directors share units     176       (176 )                              
    Share-based compensation expense           3,517                   3,517             3,517  
    Funding from non-controlling interest                                   4,392       4,392  
    Balance at September 30, 2024   $ 2,337,079     $ 76,656     $ 158,602     $ (915,629 )   $ 1,656,708     $ 4,392     $ 1,661,100  
        Attributable to shareholders of the Corporation            
    (Stated in thousands of Canadian dollars)   Shareholders’
    Capital
        Contributed
    Surplus
        Accumulated
    Other
    Comprehensive
    Income
        Deficit     Total     Non-
    controlling interest
        Total
    Equity
     
    Balance at January 1, 2023   $ 2,299,533     $ 72,555     $ 159,714     $ (1,301,273 )   $ 1,230,529     $     $ 1,230,529  
    Net earnings for the period                       142,522       142,522             142,522  
    Other comprehensive income for the period                 1,838             1,838             1,838  
    Settlement of Executive Performance and Restricted Share Units     19,206                         19,206             19,206  
    Share repurchases     (12,951 )                       (12,951 )           (12,951 )
    Redemption of non-management directors share units     757                         757             757  
    Share-based compensation expense           1,834                   1,834             1,834  
    Balance at September 30, 2023   $ 2,306,545     $ 74,389     $ 161,552     $ (1,158,751 )   $ 1,383,735     $     $ 1,383,735  


    2024 THIRD QUARTER RESULTS CONFERENCE CALL AND WEBCAST

    Precision Drilling Corporation has scheduled a conference call and webcast to begin promptly at 11:00 a.m. MT (1:00 p.m. ET) on Wednesday, October 30, 2024.

    To participate in the conference call please register at the URL link below. Once registered, you will receive a dial-in number and a unique PIN, which will allow you to ask questions.

    https://register.vevent.com/register/BI4cb3a3db88084e66ad528ebb2bdb81e4

    The call will also be webcast and can be accessed through the link below. A replay of the webcast call will be available on Precision’s website for 12 months.

    https://edge.media-server.com/mmc/p/mov2xb4k

    About Precision

    Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha™ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen™ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations. Additionally, Precision offers well service rigs, camps and rental equipment all backed by a comprehensive mix of technical support services and skilled, experienced personnel.

    Precision is headquartered in Calgary, Alberta, Canada and is listed on the Toronto Stock Exchange under the trading symbol “PD” and on the New York Stock Exchange under the trading symbol “PDS”.

    Additional Information

    For further information, please contact:

    Lavonne Zdunich, CPA, CA
    Vice President, Investor Relations
    403.716.4500

    800, 525 – 8th Avenue S.W.
    Calgary, Alberta, Canada T2P 1G1
    Website: www.precisiondrilling.com

    The MIL Network

  • MIL-OSI Australia: Transcript – Ports Australia conference

    Source: Australian Ministers for Infrastructure and Transport

    **CHECK AGAINST DELIVERY**

    As always, I begin by acknowledging the Muwinina People as the custodians of this land. We acknowledge and pay our respects to all Tasmanian Aboriginal Communities.

    Tasmania is one of the most beautiful places in our nation and a fitting setting for the Ports Australia Conference.

    We recognise the ongoing custodianship that Indigenous Australians have shown towards these lands and I extend this respect to all First Nations people joining us today.

    Thank you as well to Mike for that kind introduction, and to Stewart, your Chair, thank you very much for the invitation and for all the work that you do throughout the course of the year.

    It is wonderful to see so many public and private leaders from around the world come together.

    I would also like to extend a particular welcome to the Minister for Infrastructure for the Kingdom of Tonga.

    Like Australia, your nation relies on shipping. It is wonderful to have you here.

    I also want to recognise Dr Patrick Verhoeven, the Managing Director of the International Association of Ports and Harbours, and Jens Meier, the CEO of Hamburg Port Authority, who have travelled such a long way.

    Your presence underlines the inherently global nature of this industry, and I hope you enjoy your time here in our beautiful country.

    This is in fact my second time in Tasmania in the last two weeks. 

    Last week I was in the north, this week I’m in the south.

    On both these visits, I have had the pleasure of engaging with Tasmania’s proud maritime industry.

    Last week, I was in Burnie to commission the new shiploader – a project which replaced an essential piece of infrastructure that had been in place for five decades.

    The new shiploader doubles the capacity of the old, and can serve ships up to Panamax size, creating local jobs and growing local industry.

    It is a project that pays tribute to both the maritime past and future of this great state, as well as setting the local economy up for decades of success to come.

    It also speaks to how essential maritime logistics are to our day-to-day lives.

    At the port I could see woodchips going to China, as well as cars and supermarket produce coming into the state.

    It is too easy to miss the magic that defines our modern world, but when you take even a moment to think about it, it is truly extraordinary. 

    That port in Burnie on the north coast of Tasmania is connected to a global network that stretches to every corner of our planet. 

    Everything that we rely on, relies in turn on shipping – which is why it is such a pleasure to be here today with some of the many, many hardworking people who underpin this essential industry.

    Events like these are key to fostering a strong, robust sector – and year after year, Ports Australia does a wonderful job bringing you together and advocating for your industry.

    I stand here today as a minister in a government that knows that ports are a primary driver of our economy and workforce. 

    As well as facilitating international trade and the movement of goods throughout the region, our ports are strategic assets and critical infrastructure.

    They are vital to sustaining our island nation. 

    The most recent report from Ports Australia shows exactly this. 

    Ports move an overwhelming 99 per cent of Australia’s international trade by volume, and importantly, over 694,000 local jobs are facilitated by Australia’s port activities. 

    This works out to a staggering one in every 20 jobs across the nation. 

    Container transport has seen a huge increase.

    As have vehicle imports. 

    The most recent numbers show that cruise ships have soared to 18% higher than pre-pandemic numbers.

    You take our goods to the world, and you bring the world to us.

    Of course, these numbers, while good news, bring pressures of their own. 

    This story of growth underlines the need to ensure that our infrastructure, our investments and our policies are positioned to support a sustainable, reliable and productive supply chain. 

    That’s why our government is making investments like those at the Port of Burnie, and it is also why my department led a review earlier this year into the national freight and supply chain strategy. 

    In total, 71 submissions were received from a variety of stakeholders, including from maritime and associated peak bodies.

    Of course, I acknowledge and thank Ports Australia for their submission and engagement throughout the Review process.  

    The review found that while the foundations of the strategy remain strong, productivity, resilience, decarbonisation and data should be strengthened in the strategy and new National Action Plan.

    We are already doing the work of refreshing the strategy and action plan to address the findings of the review, and I look forward to updating you further in due course.

    But, of course, the findings of the review touch on challenges that are faced across our entire economy and society – none more so than the need to act to mitigate climate change. 

    The Albanese Government is committed to reducing greenhouse gas emissions to 43% below 2005 levels by 2030 and to achieving net zero emissions by 2050. 

    Achieving these ambitious economy-wide targets will require concerted action across all sectors, including this one. 

    Right now, transport contributes 21 percent of Australia’s direct emissions. 

    Adding to that challenge, transport is one of the hardest sectors to abate.

    So, our work here is vital.

    That is why we released the Transport Net Zero Roadmap for consultation earlier this year. 

    While that roadmap covered all modes of transport, it was of particular importance for the maritime sector.

    As we know, decarbonisation will rely on a combination of low carbon liquid fuels (LCLFs), hydrogen, electrification and efficiency improvements.

    Of these, LCLFs offer the clearest pathway for decarbonisation within liquid fuel-reliant sectors that cannot readily electrify in the near-term. 

    This includes maritime, aviation, heavy vehicle and rail, as well as mining, manufacturing and agricultural sectors.

    The bad news is that we need a lot of liquid fuels, but the good news is that Australia is well-placed with comparative advantages in the production of LCLFs: 

    • We have rich renewable energy resources; 
    • We use advanced farming practices that embody low carbon emissions;  
    • We are able to achieve economies of scale;
    • We have significant refining and port infrastructure; 
    • And we have the ability to both enable and encourage domestic fuel consumption, as well as support export capability.

    As part of our Future Made in Australia agenda, the Government is fast-tracking support for an LCLF industry.

    The government announced $18.5 million as part of the recent Budget, to support a domestic LCLF industry through the development of a certification scheme for those fuels.

    And $1.7 billion over the next ten years will go towards a Future Made in Australia Innovation Fund.

    This funding will be used in part to support nascent LCLF production technologies through research and development, to help de-risk developments, and to attract private sector investment.

    And we will continue to work with industry on further steps as needed.

    By successfully building a local LCLF industry we will increase fuel security, strengthen regional economies, diversify income streams for farmers, and meet our decarbonisation objectives – it’s hard to find a bigger win-win than that. 

    To speak even more specifically to the challenges of this sector, we’ve created a Maritime Emission Reduction National Action Plan, the MERNAP for short.

    The MERNAP aims to support Australia’s national emissions reduction targets, contribute to the global decarbonisation of shipping, and future-proof the Australian maritime sector to avoid costly and disruptive transitions later, ensuring an equitable transition, particularly for the maritime workforce, safeguarding jobs and skills for the future.

    The vision is that by 2050, Australia will fully leverage the global maritime decarbonisation transition, benefiting our ports, vessels, and the broader energy sector. 

    This will showcase Australia’s unique comparative advantages while supporting a fair and balanced transition for the industry.

    The MERNAP Consultative Group has played a vital role in shaping this action plan, and I’d like to acknowledge those here today, including: Maritime Industry Australia Limited, the Maritime Union of Australia, and of course, Ports Australia.

    To support the development of MERNAP, we undertook extensive public consultations that revealed to us that the future of the maritime sector will be powered by multiple energy sources, all of which will require new skills, and see us facing new challenges around technology readiness for alternative fuels. 

    Safety, operational efficiencies, and strong partnerships across the value chain will be critical to driving this transition.

    The Albanese Government remains committed to ensuring that Australia’s maritime industry is prepared for the future, ready to contribute to our national emissions targets, and able to thrive in a decarbonised global economy – including through initiatives like Green Shipping Corridors – partnering with nations, such as New Zealand, Singapore and South Korea. 

    I have focused a lot on what fuels our maritime sector, but there is, of course, an even more important element – the people who run it.

    I am proud to say that our plan to establish a Strategic Fleet is underway. 

    This fleet will provide assistance in times of crisis, supply chain disruption, or natural disaster. And it will support industries reliant on shipping, such as heavy manufacturing.

    Tenders to participate in the Strategic Fleet Pilot will close on 29 November. 

    Through this process, three vessels that will be privately owned and commercially operated will be selected for the pilot. 

    This is a major step towards fulfilling our commitment to establish a Strategic Fleet of up to twelve Australian flagged and crewed vessels. 

    This will strengthen our sovereign maritime capabilities while supporting our maritime workforce. 

    The creation of a strategic fleet is a central government policy that will shape our workforce for decades to come. 

    I strongly encourage all interested parties to take part in this process and to consider what role they can play.

    The tender process is being managed by my Department, which is seeking innovative tenders that will deliver the objectives of the Pilot Program. 

    These include providing the Commonwealth with certainty of access to the strategic fleet, to move cargo in times of need, crisis or national emergency. And to support of the needs of Defence —including in training and logistical capacities.

    The Albanese Government is seeking to have pilot vessels on the water as soon as possible.

    While it is not a silver bullet to solve all of the issues of our current and emerging seafarer shortage, the Strategic Fleet and the work being undertaken by Industry Skills Australia through the Maritime Industry Workforce Plan, will support our maritime workforce by increasing the amount of Australian qualified seafarers at a time of a growing global shortage. 

    The independent reviews of the Shipping Registration Act and the Coastal Trading Act being conducted by Ms Lynelle Briggs AO and Emeritus Professor Nicholas Gaskell will also contribute to the modernisation of Australia’s shipping regulatory framework, ensuring the Acts are fit for purpose and support the long-term sustainability of an Australian Maritime Strategic Fleet, and the maritime industry more broadly. 

    Public consultation has commenced and I encourage you all to make your voices heard.

    As you can see, there is a lot to do in your sector and we are a government that is determined to get on with doing it.

    The reforms the Albanese Government is delivering will do our part to support a productive, resilient supply chain, while positioning Australia to thrive in the new net zero economy.

    Thank you for having me, and all the best with the rest of your conference.

    ENDS

    MIL OSI News

  • MIL-OSI Asia-Pac: LCQ14: Improving the water quality of the Tsuen Wan waterfront

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Joephy Chan and a written reply by the Secretary for Environment and Ecology, Mr Tse Chin-wan, in the Legislative Council today (October 30):
     
    Question:
     
         In his 2022 Policy Address, the Chief Executive set a target of reducing the pollution load at identified outfalls emanating stench in specific districts (including Tsuen Wan) by half before the end of this year. It has been reported that the Government department concerned has indicated recently that the aforesaid target has been achieved ahead of the schedule, and the pollution load of the Tsuen Wan waterfront has been reduced by about 80 per cent. In this connection, will the Government inform this Council:
     
    (1) as it has been reported that the Environmental Protection Department (EPD) indicated last month that 70 cases of misconnection of drains had been found in Tsuen Wan and, among them, 36 cases had been rehabilitated or were under acceptance inspection, of the specific locations of such cases of drain misconnections and the specific rehabilitation measures taken; as for the remaining cases of drain misconnections pending rehabilitation, of the Government’s rehabilitation works plan and timetable;
     
    (2) as the EPD has indicated that following the rehabilitation of misconnected drains, the next task is to continue to identify other sources of pollutants, of the progress and targets of such task and the plans in place to monitor the water quality situation of the Tsuen Wan waterfront, for example, whether prosecution will be instituted against property owners involved in the misconnections of drains to prevent recurrence of similar problems; if so, of the details; if not, the reasons for that;
     
    (3) upon the completion of the drain rehabilitation works mentioned in (1), of the specific measures put in place by the Government to ensure that the drains can be effectively maintained and managed on a long-term basis, and whether such measures cover preventive maintenance and contingency rehabilitation plans; whether the Government will introduce new technologies to enhance the durability and operation efficiency of drains;
     
    (4) whether the Government has plans to extend across the territory the successful experience and fruitful outcomes of rehabilitating drains at the Tsuen Wan waterfront as well as the techniques applied, so as to improve the overall pollution load and odour intensity of the waterfront of Hong Kong; whether the Government will collaborate with environmental groups and experts to jointly take forward the work of ameliorating pollution at the waterfront;
     
    (5) as it has been reported that the Government has installed monitoring systems at the Tsuen Wan Sports Centre to monitor on an ongoing basis the odour changes of the Tsuen Wan waterfront, of the details of the data collected by such monitoring systems (including ways to ensure the accuracy and reliability of the data); of the water and air quality data of the Tsuen Wan waterfront collected by the Government over the past two years, and whether such data shows a trend of progressive improvement; and
     
    (6) whether the Government has short-term and long-term plans to continuously improve the water quality and odour of the Tsuen Wan waterfront; if so, of the details; if not, the reasons for that?

    Reply:
     
    President,

         The Government has all along been attached great importance to improving the water quality of Victoria Harbour. Since the launch of the Harbour Area Treatment Scheme by the Government, all sewage generated from both sides of Victoria Harbour, including Tsuen Wan District, has been intercepted and diverted to the Stonecutters Island Sewage Treatment Works for centralised treatment. As a result, the overall water quality of Victoria Harbour has improved significantly. The Cross Harbour Race, which was suspended for years due to poor water quality, has resumed since 2011 and has returned to its traditional route in the central area of Victoria Harbour since 2017. To further ameliorate the remaining near-shore water quality and odour problems of Victoria Harbour, the Chief Executive set out the target in the 2022 Policy Address to reduce the pollution load by half before end-2024 at stormwater outfalls with serious pollution problems along both sides of Victoria Harbour, in particular in Tsuen Wan, Sham Shui Po and Kowloon City districts. Since then, the Environmental Protection Department (EPD) has conducted large-scale pollution source investigations mainly in the three priority areas mentioned above. More than 8 000 stormwater and sewage manholes have been inspected, with nearly 2 000 water samples collected for chemical and Escherichia coli (E. coli) level analyses. We have also identified pollution sources by way of dye-tracing tests, detection robot, ground penetrating radar (GPR), sonar inspection boat and other advanced equipment, while working closely with the Drainage Services Department (DSD) and the Buildings Department (BD) to rehabilitate defective sewers. With the progressive completion of rehabilitation works, the overall pollution load at the relevant outfalls in the above three priority areas has been reduced by about 80 per cent and the odour problem has also been ameliorated significantly, which is widely welcomed by residents in the vicinity. 
     
         My reply to the question raised by the Hon Joephy Chan is as follows:

    (1) Most of the cases found in Tsuen Wan District are concentrated in areas of earlier development, such as Chung On Street (Tai Pei Square, Yi Pei Square, Sam Pei Square and Sze Pei Square), Lo Tak Court and the area around Heung Wo Street, etc. To trace the pollution sources in Tsuen Wan District, the EPD made the best endeavour and inspected over 1 000 stormwater and sewage manholes, collected over 400 water samples for chemical and E. coli level analyses, and successfully identified a total of 70 locations of sewer misconnection in the district. With instant follow-ups and rectifications made in collaboration with the DSD and the BD, we have so far completed rehabilitation for 36 cases involving a higher pollution load, thereby reducing the overall pollution load by about 90 per cent. The distribution of sewer misconnection cases in the district is listed in Table 1. The remaining 34 sewer misconnection cases pending rectification are mainly confronted with a more complex construction environment or technical issues. For example, works are required to be carried out beneath busy vehicular accesses and in narrow back lanes with congested underground utilities, which significantly limit the available space for the works. Our target is to complete these remaining misconnection cases within this year to further improve the water quality and odour problem of the harbourfront in the district.

    (2) In terms of progress and target for continuous identification of pollution sources, the EPD has implemented a continuous monitoring programme in Tsuen Wan District and adopted innovative tracking methods, including installing surveillance camera systems inside stormwater manholes at certain strategic locations to perform around-the-clock flow monitoring inside the manholes. When abnormal discharge is detected, the intelligence function will immediately issue an alert message for taking prompt follow-up actions. Compared with the traditional method of deploying staff to open manholes for inspection every time, this new method can monitor the flow of sewage from upstream into the stormwater systems continuously and identify the pollution sources, thus saving manpower. Besides, the EPD has applied other innovative technologies to monitor the conditions of drains, including deploying a sonar inspection boat and using a GPR to scan underground drains and sewers, which enable the generation of instant images to show the connections of underground stormwater drains and nearby sewers without digging up the roads. In order to continuously monitor the water quality of the Tsuen Wan harbourfront, the EPD has also set up three regular near-shore water quality monitoring stations at the near-shore locations of Tsuen Wan Bay near the outfalls of Tai Chung Road, Ma Tau Pa Road and Tai Ho Road box culverts. Monthly sampling is conducted to monitor the water quality, with indicators including dissolved oxygen and organic pollutant levels (5-day biochemical oxygen demand), etc.

         To rectify misconnection cases, the DSD carries out regular inspections of the conditions and structures of public sewerage and stormwater drainage systems. When defective sewers or manholes are found, rehabilitation works will be promptly arranged. As for misconnection cases in buildings, the BD will issue statutory repair/removal orders pursuant to the Buildings Ordinance (Cap. 123) to urge or order the property owners concerned to discharge their responsibilities to rectify the problems of sewer misconnection. For cases which remain non-compliant after receipt of such orders, the BD will take appropriate enforcement actions according to the circumstances. Among the 30 ongoing misconnection cases in buildings in Tsuen Wan District, 22 cases are undergoing rectification, while the BD will continue to follow up the remaining eight cases, for which statutory orders have been issued.

    (3) Upon completion of the pipe rehabilitation works, the DSD will conduct regular inspections and clearances of sediment from the drainage pipe system to ensure its proper functioning. Furthermore, the DSD will inspect and assess the operational and structural conditions of the existing underground channels according to their plans. Following a risk-based principle, appropriate replacement and rehabilitation plans are formulated in an orderly manner, including deploying different methods to install fibreglass or polyester fibre linings in the existing pipes through trenchless excavation, thereby enhancing the maintenance of the drainage system. These advanced technologies for pipe replacement and rehabilitation can maintain the reliability of the drainage system and at the same time reduce the impact on the public during the construction period. The contractors of the DSD have also reserved materials for rehabilitating drainage pipes and manpower for emergency deployment to carry out urgent pipe rehabilitation works. Meanwhile, the DSD is committed to the development and application of various innovative technologies and machinery to assist in drainage service operations, including remote-controlled desilting robots and pipeline inspection robots, the use of drones for pipeline closed-circuit television surveys, and smart water level sensors. These devices can not only enhance the efficiency of drainage service operations, but can also reduce the risks of works and protect the safety of workers.

    (4) Based on the success case in rehabilitating sewer misconnections in Tsuen Wan District, the EPD has extended the techniques applied therein to other priority areas and has been in close communication with various organisations and university research teams to pool our wisdom and work together for improving the harbourfront environment. In particular, the EPD has since 2022 engaged a team from the Hong Kong University of Science and Technology (HKUST) to install monitoring instruments at the Tsuen Wan Sports Centre, specifically monitoring the concentration of hydrogen sulphide (H2S), which is an air pollutant associated with odours at the Tsuen Wan harbourfront. The DSD also worked with another HKUST team to jointly develop new technologies. By deploying large curtains and Malodour Control Hydrogel at the outlets of box drains along the coast, the emission of malodour is inhibited. Looking ahead, the Government will continue to collaborate with experts from various fields to adopt innovation and practicable solutions to further consolidate the achievements in ameliorating the water quality and odour problems of Victoria Harbour.

    (5) To objectively assess the actual effectiveness of rectification of misconnections in improving the odour levels in harbourfront areas, the Government has installed odour monitoring instruments at the Tsuen Wan Sports Centre and other locations along Victoria Harbour shorelines to continuously monitor odour changes in harbourfront areas. A team from the HKUST will conduct regular maintenance and calibration for the monitoring instruments, and verify the collected data to ensure the accuracy and reliability of the monitoring data. The monitoring data collected from the Tsuen Wan harbourfront revealed that the concentration of H2S, which is the key cause of odour, showed a significant downward trend. The H2S concentration recorded in August 2024 was 80 per cent lower when compared to that in early 2022. The records of monthly average concentration data are shown in Figure 1 and Table 2.

         As for water quality, the monitoring data recorded in the waters near three stormwater drain outlets at the Tsuen Wan West harbourfront showed that the near-shore water quality in the area has undergone significant improvement. The overall average dissolved oxygen level in seawater has increased by about 30 per cent, while the content of organic pollutants has decreased by about 40 per cent. The annual average water quality data recorded at the near-shore water quality monitoring stations are shown in Table 3.
         
         The EPD interviewed members of the public at the Tsuen Wan harbourfront in August this year. Seventy-five per cent of the respondents agreed that the odour problem at the harbourfront had improved, with half of them considering the improvement to be significant.
         
    (6) In order to continuously improve the water quality and odour problems at the Tsuen Wan harbourfront, apart from the short-term measures including investigating and rectifying misconnections as mentioned in (2) to (4), the Government will continue to implement the following medium-to-long-term improvement measures:

    (i) Desilting Works: Regular desilting works will be carried out for the three main box culverts (stormwater drains in Tai Chung Road, Tai Ho Road and Ma Tau Pa Road) in Tsuen Wan District to reduce the discharge of pollutants or sediments from the stormwater drains into the near-shore waters;

    (ii) Sewer Replacement and Rehabilitation Works: To prevent leakeage of sewers from affecting the water quality along the Tsuen Wan harbourfront, the Government will undertake public works projects to rehabilitate some of the aged underground sewers in Tsuen Wan District. As at December 2023, approximately 11 kilometres of sewers in Tsuen Wan District were undergoing replacement and rehabilitation, and the works are expected to be completed in phases by end-2026; and

    (iii) Village Sewerage Sytems: Village sewerage works for Chuen Lung and Lo Wai are expected to be completed by end-2025. Moreover, village sewerage works are also underway in rural areas in Tsuen Wan District, namely San Tsuen, Wo Yi Hop and Sheung Kwai Chung. The works projects will commence upon completion of land acquisition procedures and funding approval by the Legislative Council, and the works are expected to be completed in three to five years.

         All in all, the Government will continue to take forward various improvement and monitoring measures to strive for turning the Tsuen Wan harbourfront into a new landmark of water-friendly culture.

    MIL OSI Asia Pacific News

  • MIL-OSI: Vast and GGS Energy Partner to Bring CSP-Powered Green Methanol and SAF to the U.S.

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) — Vast Renewables Limited (“Vast”) (Nasdaq: VSTE), a renewable energy company specialising in concentrated solar thermal power (CSP) systems that generate zero-carbon, utility-scale electricity and industrial process heat, today announced it has signed a development services agreement with GGS Energy LLC (“GGS Energy”), a leading energy transition development company with deep project development experience, to pursue a commercial-scale synthetic fuels project in the Southwest United States (Project Bravo).

    Project Bravo, Vast’s first deployment in the U.S., will see Vast’s CSP v3.0 technology used to generate carbon free heat and electricity to power a co-located refinery that will produce green methanol and/or electrically powered sustainable aviation fuel (e-SAF). The project is expected to be located in the Southwest United States.

    Methanol is one of the most versatile hydrogen derivatives which, if produced using clean energy, has the potential to decarbonise shipping and aviation fuels. Using CSP can potentially reduce green fuel production costs by up to 40 percent according to a recent report by engineering group Fichtner. Furthermore, e-SAF will be critical to reducing emissions from the aviation industry over the coming decades. Given these and other strong demand trends, the parties expect to attract high-quality, long-term offtake contracts from global strategic partners.

    Project Bravo will build on Solar Methanol 1 (SM1), the CSP-powered green methanol reference plant to be located in Australia at the Port Augusta Green Energy Hub, that Vast is co-developing with global energy company Mabanaft. SM1 will be supplied with baseload renewable heat from Vast’s co-located 30 MW / 288 MWh CSP plant, and it will have the capacity to produce 7,500 tonnes of green methanol each year.

    Vast has been undertaking early-stage development activities for Project Bravo, including initial design, site selection and feasibility assessments, to create a viable project ready for the next phase of development in collaboration with GGS Energy. The project has a development target of 550MWh of CSP generation, with further details to be released as development activities unfold.

    The development services agreement sets out how Vast will advance Project Bravo with GGS Energy, a subsidiary of Glacier Global Partners that was formed in 2020 as an energy transition company focused on developing utility-scale renewable energy. The project’s success could unlock the mass production of green fuels from synthetic feedstocks in the US and catalyse a pipeline of future projects.

    Craig Wood, CEO of Vast, said, “CSP has the potential to unlock low-cost green fuel production in the U.S., and it can play a significant role in helping decarbonise shipping and aviation. We are delighted to have GGS Energy as a development partner to advance our plans in the U.S., which is a key market for Vast’s technology.”

    Tommy Soriero from GGS Energy said, “GGS Energy is excited to partner with Vast and work to develop Project Bravo. This collaboration marks a significant step toward a sustainable future, harnessing advanced technology to produce low-cost green fuels. We are eager to combine our expertise and resources to ensure the success and impact of future innovative projects starting with Project Bravo.”

    About Vast

    Vast is a renewable energy company that has developed CSP systems to generate, store and dispatch carbon free, utility-scale electricity and industrial heat, and to unlock the production of green fuels. Vast’s CSP v3.0 approach to CSP utilises a proprietary, modular sodium loop to efficiently capture and convert solar heat into these end products. 

    Visit www.vast.energy for more information.  

    About GGS Energy LLC

    GGS Energy was formed in 2020 as an energy infrastructure company focusing on developments of utility-scale energy transition projects. The GGS team has an extensive infrastructure development experience in the U.S. and internationally utilizing multiple technologies including utility scale CSP, coal-to-liquids projects, PV solar, Wind, BESS, and many more.

    Contacts:  

    Vast 

    For Investors:   
    Caldwell Bailey   
    ICR, Inc.   
    VastIR@icrinc.com

    For Australian media:  
    Nick Albrow  
    Wilkinson Butler  
    nick@wilkinsonbutler.com

    For US Media:   
    Matt Dallas   
    ICR, Inc.   
    VastPR@icrinc.com

    Forward Looking Statements
    The information included herein and in any oral statements made in connection herewith include “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. All statements, other than statements of present or historical fact included herein, regarding Project Bravo, Vast’s future financial performance, Vast’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “project,” “should,” “will,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Vast management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Vast disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Vast cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Vast. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; Vast’s ability to obtain financing on commercially acceptable terms or at all; Vast’s ability to manage growth; Vast’s ability to execute its business plan, including the completion of the Port Augusta project (including SM1) and Project Bravo, at all or in a timely manner and meet its projections; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving Vast, including in relation to Vast’s recent business combination; the inability to recognize the anticipated benefits of Vast’s recent business combination; costs related to that business combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Vast’s products and services. Additional risks are set forth in the section titled “Risk Factors” in the Annual Report on Form 20-F for the year ended June 30, 2024, dated September 9, 2024, and other documents filed, or to be filed with the SEC by Vast. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Vast’s expectations can be found in Vast’s periodic filings with the SEC. Vast’s SEC filings are available publicly on the SEC’s website at www.sec.gov

    The MIL Network

  • MIL-OSI United Kingdom: Welsh Secretary sees plans for a new clean energy hub

    Source: United Kingdom – Executive Government & Departments

    The Secretary of State for Wales has visited Associated British Ports and Dow in Barry as part of the UK Government’s mission to deliver economic growth.

    Welsh Secretary Jo Stevens at ABP Barry.

    The Secretary of State for Wales has visited two major employers in Barry in the Vale of Glamorgan as part of the UK Government’s mission to deliver economic growth. 

    Welsh Secretary Jo Stevens was given a tour of the Port of Barry and heard about Associated British Ports (ABP) and px Group’s plan for a Clean Growth Hub which aims to establish a cutting-edge facility where businesses can attract direct investment and create jobs.

    The plan aims to transform a large area of the operational port into an area of green, high-growth infrastructure investment. It is designed to attract companies involved in innovative industries such as battery materials, rare earth metal processing and green energy manufacturing.

    Earlier the same day the Welsh Secretary also visited Dow, a material sciences company, based on Cardiff Road, Barry. The site manufactures silicones for use in automotive, aerospace, energy infrastructure, construction and other industries across the UK and Europe. It employs more than 600 people with the majority living in the Vale of Glamorgan, as well as partnering with hundreds of suppliers – many based in and around Barry and South Wales.

    The Welsh Secretary heard about how Dow contributes to the growth of the regional economy and about the company’s plans for the future.

    Welsh Secretary Jo Stevens said:

    My number one mission is to deliver investment and jobs to Wales so it was fantastic to hear about the Port of Barry’s exciting plans for the Clean Energy Hub which will attract business and investors while helping achieve our mission of making Britain a clean energy superpower.

    We want to work in partnership with business to drive growth, opportunity and prosperity, so it was also great to spend time at Dow and see the work that they do to realise these ambitions in South Wales.

    Ralph Windeatt, ABP Group Head of Business Development, said:

    I was delighted to welcome the Secretary of State for Wales to our Port of Barry to discuss our plans for a Clean Growth Hub. 

    Associated British Ports’ five ports in South Wales are already becoming hubs at the heart of the green energy transition. With our partners px Group, we want to transform the Port of Barry to expand low-carbon, high-growth infrastructure investment. These plans will build on the low-carbon infrastructure we already have in place, including solar and wind power and green hydrogen production with our partners at EDF Hynamics and ESB International. 

    Our plans for a Clean Growth Hub will create jobs, mobilise inward investment and boost local prosperity and opportunity.

    Andrew Laney, Senior Site Manufacturing Director at Dow, Barry said:

    Dow is a business that plays a key role in South Wales, both socially and economically. The silicones we manufacture for so many industrial sectors across Wales, UK and Europe are proudly ‘Made in Barry’. 

    We were pleased to show the Secretary of State the operations on site and discuss how South Wales manufacturing can be well-recognised in the UK Government’s Industrial Strategy consultation.

    ENDS

    Updates to this page

    Published 29 October 2024

    MIL OSI United Kingdom

  • MIL-OSI USA: NREL’s Commercial Electric Vehicle Cost-of-Ownership Tool Is Best in Class—And Free

    Source: US National Renewable Energy Laboratory


    Researchers from NREL have released a new version of the Transportation Technology Total Cost of Ownership tool, known as T3CO—the most sophisticated open-source commercial vehicle TCO tool available today. Photo from Toyota Motor North America

    Commercial vehicle owners stand to gain a lot from the transition to zero-emission vehicles (ZEVs). With lower maintenance and energy costs and the potential for generous tax credits and rebates, ZEVs can save businesses money over the long run.

    Unfortunately, the math behind a transition to ZEVs gets complicated quickly. Unlike diesel vehicles, which have long provided a “one size fits most” solution for commercial fleets, ZEVs are much less standardized. Their total cost of ownership (TCO) can change based on a wide array of variables, from the size of their battery to the price of electricity and the time it takes to recharge their batteries. Fleets and manufacturers can be left wondering which vehicle is the right fit for their operations—and how much it really costs.

    Now, researchers from the National Renewable Energy Laboratory (NREL) have released a new version of the Transportation Technology Total Cost of Ownership tool, known as T3CO—the most sophisticated open-source commercial vehicle TCO tool available today.

    T3CO enables fast analyses that can provide comprehensive insights into the life-cycle costs of decarbonized vehicles, from upfront investments and operating costs to the opportunity costs that can be presented by zero-emissions commercial vehicles. As fleets worldwide accelerate their transitions to electric vehicles, T3CO is ready to guide cost-effective purchasing decisions.

    “I believe in realism,” said Alicia Birky, an NREL commercial vehicles researcher who led the tool’s most recent developments. “When researchers, manufacturers, and fleet owners are making decisions about what vehicles to invest in, they need a total cost of ownership analysis with a level of detail that hasn’t been possible in the past.”

    T3CO, Birky said, “is our way of giving researchers and other decision makers the best possible tools for understanding how to meet a fleet’s needs with new vehicle powertrains and what trade-offs they might see with different technologies.”

    T3CO Is Fast, Accessible, and Free

    While T3CO has been in use at NREL for more than 15 years, a rebuilt, user-friendly version is now available to the public as a free, open-source tool. The full model documentation is available online, and a new quick-start guide can help users rapidly begin generating results.

    T3CO has been in use at NREL for more than five years. Now, a rebuilt, user-friendly version is widely available to the public. Image by NREL

    “Anyone with Python knowledge can install T3CO and begin to create their own analyses,” said NREL’s Harish Panneer Selvam, a commercial vehicle technologies researcher who designed the tool’s new technical features. “We’ve restructured the whole tool to make it as useable and accessible as possible.”

    T3CO has always provided powerful cost capabilities tailored to a vehicle’s specifications, thanks to its integration with NREL’s Future Automotive Systems Technology Simulator (FASTSim), a rapid powertrain simulation model. Now, it has a host of new features.

    Among them is a batch mode capability, which allows T3CO to run tens of thousands of vehicle simulations in a short period—without requiring the use of a supercomputer. In addition, a built-in optimization module allows users to size vehicle components to meet performance and operational requirements at minimum cost.

    “T3CO’s optimization toolbox trades off the value of different energy saving approaches, like aerodynamics and lightweighting, against the cost of larger motors and batteries,” Panneer Selvam said. “It’s able to consider thousands of vehicle specifications to find the least expensive combination that meets the user’s needs.”

    This means users can simultaneously assess a vehicle’s performance and analyze its life-cycle costs to find a custom solution. T3CO’s flexible framework allows users to define a “scenario” of their choosing, including the vehicle model, operational conditions, and financial circumstances.

    Most importantly, T3CO’s ability to estimate opportunity costs has been significantly refined.

    The tool includes three categories of costs:

    • Capital costs, or upfront expenses such as purchasing a vehicle and paying taxes
    • Operating costs, or ongoing expenses such as maintaining, insuring, and recharging or refueling a decarbonized vehicle
    • Opportunity costs, or the less obvious, “soft” expenses of operating a decarbonized vehicle—such as lost productivity when vehicles are charging or fueling, and the possibility of reduced payload capacity due to the weight of an advanced vehicle.

    It is the last category—opportunity costs—that makes T3CO unique. NREL’s pioneering approach to estimating the costs of operating a decarbonized vehicle is novel compared to other TCO tools.

    “It’s easy to figure out how much it costs to repair a vehicle and how much it costs for fuel, and then add it up and provide a TCO. That’s not what T3CO does,” Panneer Selvam said. “We estimate a customized TCO for a specific vehicle, in a specific location, and for its specific operations.”

    T3CO can help determine the most cost-effective path to fleet decarbonization. Photo from Getty Images

    Those operations, Birky and Panneer Selvam emphasized, include not just a vehicle’s typical use, but also its use on unusually high-intensity days. In other words, T3CO can capture the full variety of operations a vehicle might need to perform over a life cycle and calculate its cost accordingly.

    To accomplish this, the model leverages NREL’s Fleet Research, Energy Data, and Insights (FleetREDI) platform and flagship Fleet DNA database, which serves as the U.S. Department of Energy’s (DOE’s) largest body of real-world, in-use, high-resolution vehicle operational data. Being able to account for unusual operating days can completely change the TCO calculations, Birky said, and can help identify the right decarbonized vehicle for a specific application.

    While the calculations can quickly get complex, according to Panneer Selvam, “For us, ‘complex’ is not a bad word.”

    In fact, these complex challenges are perfect for national laboratories like NREL. Providing easy-to-use tools that can address highly complex problems is one way the laboratory continues to accelerate the transition to sustainable technologies.

    T3CO Is Ready for Action

    Decarbonizing entire commercial fleets takes time—but it can be accomplished faster when the most cost-effective strategy possible is applied, because every dollar stretches further. T3CO is primed to guide manufacturers, fleet operators, and researchers through the process.

    T3CO can:

    • Provide insights into the relative merits of ZEV technologies for a particular use case. For example, it can help users determine whether a hybrid, battery-electric, or hydrogen fuel cell electric vehicle is the best fit for certain operations, identify the right ZEV battery size, and even find the ideal cost for individual ZEV components in order to reach cost parity with conventional vehicles.
    • Identify how a vehicle’s operations affect its TCO. Rather than using “representative” data to approximate how a vehicle is driven, T3CO can use real-world data on vehicle duty cycles. These insights into a ZEV’s actual range of operations can allow users to fine-tune their understanding of a ZEV’s TCO.
    • Determine how new technologies might affect vehicle TCO. As new charging technologies like dynamic wireless charging pick up speed, T3CO can help users understand the cost implications. For instance, users with access to in-road charging may be able to purchase a less expensive ZEV equipped with a smaller battery.
    • Chart out a phased approach for vehicle decarbonization. T3CO can pinpoint the vehicles in a fleet or specific routes that can be easily replaced with today’s ZEVs. On the other hand, using technology progress projections, it can also help users determine whether they should hold off on electrifying other vehicles until new technologies hit the market.

    This information can prove valuable for commercial fleets making long-term investments into new fleets, as well as researchers focused on finding the best pathways to widespread ZEV adoption.

    After all, while the math is complex, the conclusion is simple: Making the best insights available to the widest user base possible will only help accelerate the clean vehicle transition.

    Learn more about NREL’s sustainable transportation and mobility research and its specific focus on commercial vehicle decarbonization. And sign up for NREL’s quarterly transportation and mobility research newsletter, Sustainable Mobility Matters, to stay current on the latest news.

    Interested in providing feedback on T3CO or ideas for future collaborations? Direct your input to T3CO@nrel.gov. Bug reports and feature requests are welcome through GitHub.

    MIL OSI USA News

  • MIL-OSI USA: Casey Secures $48.4 Million to Develop Hydrogen-Powered Trains in Erie

    US Senate News:

    Source: United States Senator for Pennsylvania Bob Casey

    Funding will support Wabtec Corporation, which will remanufacture trains to run on hydrogen fuel

    Grant made possible thanks to Casey-backed infrastructure law

    Washington, D.C. – Today, U.S. Senator Bob Casey (D-PA) announced $48,412,512 to help Wabtec Corporation develop hydrogen-powered trains in Erie. Hydrogen fuel is a low-emission fuel that increases train efficiency and ultimately reduces fuel costs. The funding comes from the Consolidated Rail Infrastructure and Safety Improvements (CRISI) grant program, made possible by the Infrastructure Investment and Jobs Act (IIJA), which Casey fought to pass.

    “Pennsylvanians have a long history of being on the cutting edge of building our Nation’s railroads, and it is critical that as America’s transportation sector begins using the technology of the future, our Commonwealth continues to lead the way,” said Senator Casey. “Thanks to the infrastructure law, we are investing in the development of trains that run on hydrogen, which will protect our environment and boost our economy. I will always fight to modernize our Commonwealth’s transportation infrastructure and ensure that Pennsylvania remains a leader the technology that powers the Nation.”

    The Consolidated Rail Infrastructure and Safety Improvements (CRISI) grant program is a federal grant program that provides funding for projects that improve the safety, efficiency, and reliability of intercity passenger and freight rail.

    The $48,412,512 will help Pittsburgh-based Wabtec Corporation remanufacture trains at its facility in Erie to use hydrogen as a fuel source. This research and development project will entrail control system and engine upgrades to accommodate the hydrogen fuel.

    MIL OSI USA News

  • MIL-OSI USA: Governor Polis, Federal Delegation Celebrates $66.4 Million from U.S. Department of Transportation to Improve Safety and Expand Colorado Rail

    Source: US State of Colorado

    Total Funding of $94.3 million will help improve safety of freight operations today in Colorado by adding Positive Train Control and crossing improvements to the Front Range Rail Corridor preparing Colorado for fast, convenient, and safe passenger rail service

    WESTMINSTER – Today, Governor Polis, Senator Michael Bennet, Congressman Joe Neguse, Congresswoman Brittany Pettersen, Colorado Department of Transportation Executive Director Lew, Longmont Mayor Joan Peck, Erik Davidson, RTD Board Chair and local officials celebrated funding from the U.S. Department of Transportation, to improve rail transportation and safety infrastructure in Colorado. Colorado received $66.4M in grant funding from the Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program under the Infrastructure Investment and Jobs Act (IIJA), with the state matching almost $28 million from the State’s IIJA match fund to improve safety on the BNSF line north of Denver and helping to proactively prepare the state for fast, convenient, and safe passenger rail service.

    “Today’s grant will make freight rail traffic in some of our busiest growing communities safer quickly while providing critical building blocks for Passenger Rail.  This major funding will help achieve important priorities like complying with longstanding federal standards and improving the safety of rail crossings, which can be the sites of dangerous incidents. With more than $66 million in federal support from the Biden-Harris administration, the future of Colorado’s rail network is a clear priority for the federal government, as it should be. We thank Senators Hickenlooper and Bennet, Congressman Neguse and Congresswoman Pettersen, the BNSF Railway, and our communities for their support of this important project,” said Governor Jared Polis.

    “A unified statewide effort with the Polis Administration has made this important milestone possible.  We appreciate the unwavering support of our Congressional delegation, along with that of local partners in communities across the state. The Biden-Harris Administration has consistently recognized the state’s seriousness about freight safety and passenger rail, recognizing the Front Range Passenger Rail corridor for the National Corridor ID program, and now by providing this grant to improve the safety of freight operations while also opening doors for future passenger rail. We appreciate their efforts and the time that their leadership has consistently dedicated to our efforts,” said CDOT Executive Director Shoshana Lew.

    “This is a major step forward for Colorado and the future of safe freight and passenger rail in our state. We are thankful to our federal partners, BNSF Railway, members of Congress and local leaders for their relentless efforts to secure this major funding from the Biden-Harris Administration,” said John Putnam, Senior Advisor, Colorado Department of Transportation.

    This grant to improve the BNSF Front Range Subdivision is one of four Colorado projects to receive CRISI awards announced today. Colorado State University – Pueblo was awarded almost $12 million to enhance the ability to test hydrogen and compressed natural gas advanced technology trains at the FRA Transportation Technology Center in Pueblo.  San Luis Central Railway and Omnitrax were awarded funds to replace ties to increase safety and reduce maintenance costs for short lines in rural Colorado.  

    “The Colorado Department of Transportation’s Modernizing Rail on the Front Range project will improve existing rail operations along the Front Range by delivering improvements to several highway grade crossings, constructing a new passing siding, and deploying the safety overlay of positive train control across a portion of the corridor,” said Jim Tylick, Assistant Vice President Passenger Operations at BNSF. “We appreciate the early collaboration with the Front Range Passenger Rail District, CDOT, and the FRA as intercity passenger rail is considered along the Front Range in Colorado. We know the projects identified in this grant will benefit the rail corridor today while also providing benefit in the future as passenger rail is explored.”  

    In April, Governor Polis joined U.S. Department of Transportation Secretary Pete Buttigieg to visit the Floyd Hill Project, a seven-mile stretch of I-70 from exit 248 northwest of Evergreen to exit 241 in eastern Idaho Springs that works to eliminate a bottleneck on one of the most congested stretches of the I-70 Mountain Corridor. This project was announced in October of 2022, and made possible by state and federal investments including a $100 million grant from the Biden administration.

    In December 2023, Front Range Passenger Rail was included in the Federal Rail Administration’s Corridor Identification and Development program, which brought additional federal support for Colorado ahead of today’s grant award. Since the passage of the Bipartisan Infrastructure Law, Colorado has won more than $400 million in competitive grant awards to support key infrastructure projects across the state.

    ###
     

    MIL OSI USA News

  • MIL-OSI China: China fully advances manned lunar landing program

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

    JIUQUAN, Oct. 29 — China is pressing ahead with its mission to land astronauts on the Moon by 2030, moving quickly with development and construction to turn this goal into reality, the China Manned Space Agency (CMSA) announced at a press conference on Tuesday.

    The production and ground tests of prototypes of the Long March-10 carrier rocket, the manned spacecraft Mengzhou, the lunar lander Lanyue, the space suit and the manned lunar rover are underway as planned, said Lin Xiqiang, spokesperson for the CMSA.

    A series of major tests have been completed, including the integrated airdrop test for the spacecraft, the separation test for the two modules of the lander, the test firing of the three-engine power system for the rocket’s first stage, and the high-altitude simulation test for the hydrogen-oxygen engine.

    Ground systems including the launch site, telemetry and control communications, and the landing site are being developed and constructed, he added.

    MIL OSI China News

  • MIL-OSI USA News: FACT SHEET: President Joe  Biden Announces $3 Billion to Strengthen Port Infrastructure, Create Good-Paying and Union Jobs, Bring Cleaner Air to  Communities

    Source: The White House

    President Biden will travel to the Port of Baltimore to announce $147 million in awards, which will support up to 2,000 good-paying and union jobs at the Port

    Today, President Biden will travel to the Port of Baltimore to announce a $3 billion investment from his Inflation Reduction Act to improve and electrify port infrastructure, support an estimated 40,000 good-paying and union jobs, reduce pollution, and combat the climate crisis.  The announcement includes $147 million in awards for the Maryland Port Administration, which will support over 2,000 good-paying and union jobs by enabling the purchase and installation of zero-emission port equipment, charging infrastructure, and power improvements. During the visit, President Biden will highlight how his Investing in America agenda is making an historic impact on communities and workers in Baltimore and across the country.

    $3 Billion Investment to Strengthen Port Infrastructure

    Today, President Biden is announcing $3 billion in Environmental Protection Agency Clean Ports grants, funded by the Inflation Reduction Act, to 55 selectees across 27 states and territories, including $147 million in implementation and planning grants for the Maryland Port Administration. The nation’s ports are the lynchpin of our nation’s supply chains and employ over 100,000 union workers across the United States.

    This funding will protect and create good-paying and union jobs and better working conditions by upgrading port operations and infrastructure to cleaner equipment, while ensuring cleaner air for port workers and nearby communities. The Clean Ports program will support an estimated 40,000 jobs across the economy, including over 6,500 manufacturing jobs, and is expected to increase demand for American manufactured electric cargo handling equipment at least six-fold over the life of the program.

    While a major economic driver, our nation’s ports are a major source of pollution for workers and surrounding communities. Communities living near ports and other transportation corridors are exposed to toxic pollution which can cause respiratory and cardiovascular harm, especially in children. The Clean Ports program will improve air quality at ports across the country by installing clean, zero-emission freight and ferry technologies along with associated infrastructure, eliminating more than 3 million metric tons of carbon pollution over the first ten years of implementation, equivalent to 391,220 homes’ energy use for one year. The funds announced today will support the purchase of battery-electric and hydrogen-powered human-operated and human-maintained equipment, including over 1,500 units of cargo handling equipment, 1,000 drayage trucks, 10 locomotives, and 20 vessels, as well as shore power systems for ocean-going vessels, battery-electric and hydrogen vehicle charging and fueling infrastructure, and solar power generation. The Clean Ports program advances the President’s Justice40 Initiative and aligns with the Biden-Harris Administration’s goal for a zero-emission freight sector.

    Investing in the Port of Baltimore

    President Biden will announce the funding at the Port of Baltimore in Maryland. The Port of Baltimore is one of the busiest ports on the East Coast and is a major hub for the import and export of vehicles. More than 20,000 workers support daily Port operations, including unionized longshoreman and truckers. Each day the Port’s economic impact represents $192 million or more than $70 billion a year, representing 13% of Maryland’s gross domestic product.

    The Maryland Port Administration’s Equipment Electrification and Terminal Decarbonization project has been selected to receive over $145 million to purchase zero-emission cargo handling equipment and drayage trucks and facilitate the transition of the port to a zero-emission facility, as well as a nearly $2 million planning grant to help the port chart a path to greater emissions reductions in the future, delivering cleaner air for the port and neighboring communities. The port is a major economic engine for the region, providing thousands of jobs and contributing billions of dollars to the local economy—and this new investment will support over 2,000 jobs, including more than 350 manufacturing jobs.

    Creating Good Paying, Union Jobs in Baltimore and Across the Country

    President Biden is the most pro-union president in history. He’s the first and only president to walk a picket line, and under his Administration, unions have secured historic labor wins. Last month, President Biden signed an Executive Order that calls on agencies to promote strong labor standards such as family-sustaining wages, workplace safety, and the free and fair choice to join a union, and encourages agencies to implement these standards through their Investing in America programs. This builds on a record of pro-worker accomplishments throughout the Biden-Harris Administration. For example:

    • Workers are filing for union representation at twice the rate they were at the start of the Biden-Harris Administration—the first Administration in five decades to have an increase in union petitions. In Maryland, union petitions increased by 55% percent. The National Labor Relations Board has met this historic moment by reducing unnecessary delays in union representation elections and by expanding remedies available to workers when their employers engage in unionbusting.
    • The vast majority of Investing in America programs require grantees to pay Davis-Bacon prevailing wages for workers. The Administration also published the first update to Davis-Bacon prevailing wages in nearly 40 years, which will increase pay for one million construction workers over time.
    • The Department of the Treasury finalized a rule implementing prevailing wage and apprenticeship bonus credits for certain clean energy projects funded by the President’s Inflation Reduction Act to ensure clean energy workers are paid good wages and that these projects create equitable pipelines to these good jobs.

    Building on Historic Investments in Maryland’s Infrastructure and Economy

    Today’s announcement builds on a historic investment in the state of Maryland under the Biden-Harris Administration. To date, the Investing in America agenda has delivered over $13 billion for over 970 projects in Maryland, spurring over $3 billion in private sector investments.

    This includes a number of projects in Baltimore, for example:

    • $4.7 billion for Amtrak’s Frederick Douglass Tunnel—which will replace the 150-year-old Baltimore and Potomac tunnel that is currently one of the largest rail bottlenecks on the Northeast Corridor;
    • $213 million to replace the Maryland Transit Administration’s entire fleet of 52 aging light rail vehicles with new, modern rail cars;
    • $80 million for interchange improvements at the I-895 Baltimore Harbor Tunnel;
    • $68 million for upgrades at Baltimore Washington International Thurgood Marshall airport;
    • $43 million to identify and replace toxic lead pipes across Maryland;
    • $31 million to rehabilitate a section of the Dundalk Marine Terminal at the Port; and
    • $9 million to Baltimore City Public Schools for clean school buses.

    Baltimore was also named an Investing in America Workforce Hub, where the Administration is bringing together industry, government, educators, non-profits and unions to help workers in Maryland access good jobs created by private and public sector investments in the state. In November 2023, Hub partners announced new efforts to train and hire local residents to support major infrastructure projects. These commitments include one from the State of Maryland to incorporate a Project Labor Agreement in the bidding process for nine projects covering $9 billion in investment and 11,000 jobs—including 7,000 construction jobs. One of these commitments includes Amtrak promising to invest at least $5 million in funding received through the Bipartisan Infrastructure Law to create recruitment and training programs for new jobs for Baltimore residents as part of the Frederick Douglass Tunnel Program.

    The Department of Commerce also awarded the Maryland Department of Labor $23 million through the Economic Development Administration’s Good Jobs Challenge to create a new apprenticeship model for the growing offshore wind industry in Maryland, working with leading employers and local unions to develop a training model focused on underserved populations. The Maritime Administration is further supporting the Maryland offshore wind industry through a $47 million grant to Sparrows Point Steel to retool, a former Bethlehem Steel mill in Baltimore, to establish an offshore wind logistics and manufacturing hub in partnership with the United Steelworkers.

    The Biden-Harris Administration’s Investing in America agenda has also unleashed $3 billion in private sector manufacturing and clean energy investments in Maryland, including:

    • A $350 million investment by United Safety Technology in Baltimore to produce critical medical supplies, including personal protective equipment.
    • A $300 million investment by AstraZeneca in a state-of-the-art facility in Rockville to launch life-saving cell therapy platforms for cancer trials.
    • A $230 million investment by Catalent to expand its advanced gene therapy manufacturing campus in Harmans.

    The Administration’s Investing in America agenda continues to make critical investments that will improve the lives and futures of all Marylanders.

    The Biden-Harris Administration’s Ongoing Support for Baltimore

    President Biden was last in Baltimore in the immediate aftermath of the tragic collapse of the Francis Scott Key bridge, which claimed the lives of six construction workers and closed ship traffic in and out of the Port of Baltimore. There, he said his Administration would move heaven and earth to reopen the Port of Baltimore as quickly as possible to support Maryland’s workers and economy. A Unified Command led by the United States Coast Guard and the Army Corps of Engineers cleared 50,000 tons of wreckage from the channel, allowing the Port to fully reopen 78 days after the bridge collapse. The Department of Labor and Small Business Administration mobilized quickly to support workers and small businesses impacted by the port closure, including thousands of Longshoremen and Teamsters who rely on the port for their livelihood. And the Department of Transportation and the Supply Chain Disruptions Task Force worked to limit supply chain disruptions, keep costs down, and ensure cargo quickly returned to the Port once it reopened. Today, port workers are back on the job, once again moving more than 100,000 tons of cargo per day.

    The President also committed to rebuilding the bridge as quickly as possible. Thanks to close collaboration with the Department of Transportation, Maryland is on the fast track to rebuild the bridge. In July, the Federal Highway Administration issued a Categorical Exclusion, allowing the project to clear a critical permitting milestone. And in August, Maryland selected a contractor to design and build the new bridge.  Immediately following the bridge collapse, President Biden called on Congress to fully fund the replacement bridge and his Administration reiterated this request in July.

    The Biden-Harris Administration also committed to holding the owners of the DALI cargo ship accountable for the disaster. Just last week, the Department of Justice announced a settlement of over $100 million with the owners of the DALI to cover federal government costs incurred in responding to the collapse. While the State of Maryland continues to pursue a separate lawsuit for damages incurred to the local economy, community, and families impacted by the collapse, the Biden-Harris Administration remains committed to working with Baltimore and the State of Maryland to ensure the city’s long-term recovery and success.

    ###

    MIL OSI USA News

  • MIL-OSI Security: Defense News: Navy Announces Latest Shore Energy Achievements During Energy Action Month

    Source: United States Navy

    National Clean Energy Action Month provides a valuable opportunity for the DON to spotlight the importance of energy as a strategic asset and catalyst for mission success. Amongst this year’s successes are advancements in enhanced energy security and shore and operational energy issues, Enhanced Use Leases (EULs) and Marine Energy Development (MED), the Energy & Water Analysis Tool (EWAT), the development of the Chief Sustainability Officer (CSO) Serial titled “Shore Energy Goals,” and youth education and outreach.

    Underlying all of these efforts is a DON strategy focused on three Cs – Climate, Communities, and Critical Infrastructure that emphasize execution of core strategies via the 3 Pillars of Energy Security – Reliability, Resiliency, and Efficiency.

    “Energy security is mission success,” said Assistant Secretary of the Navy for Energy, Installations and Environment Meredith Berger. “As we celebrate Energy Action Month, we reflect on the ambitious energy goals we’ve set and the great progress we’ve made throughout the year that ensure we continue to build a climate-ready force. Our Sailors and Marines rely on and respond to energy issues in their daily operations, and the DON’s persistent focus on energy security coupled with our strategic partnerships with the community enable mission success for our Naval force.”

    Increased energy security was at the forefront in October with the release of an industry request for information (RFI) to explore concepts for the development of nuclear power facilities to support increased energy security at seven Navy and Marine Corps installations in the United States. The responses are expected to enable the Department to further consider alternative carbon-free shore energy opportunities and build upon the DON’s commitment to enhance energy security as a responsible community partner.

    New focus has also been given to the intersection of shore and operational energy issues, to bridge the gap between installations and the warfighters they serve. Amongst the installation efforts being explored are pier-power assessments at naval bases to ensure ships and submarines receive resilient and quality power. Other efforts focused on the warfighter include a renewed opportunity for a Masters of Operational Energy degree at the Naval Postgraduate School that will equip graduates with the essential skills required to enhance their effectives in the modern battlespace whether on a ship, submarine, aircraft, or on land.

    Energy partnerships with States and industry benefit both the Navy and the communities we live in. Enhanced Use Leases (EULs) are one way that the DON works with our neighbors to ensure energy resilience. The Navy recently entered into two EULs that, upon completion, will provide more than 250-megawatts of renewable energy to the local utility, Hawaiian Electric Company (HECO), and full-base resilience for the DON in the event of a grid outage. As part of the EULs, the Kūpono Solar site provides clean, renewable energy and battery storage to approximately 10,000 homes on O‘ahu while offsetting 50,000 tons of CO2 emissions annually. The Pu`uloa Energy site, currently in development, will provide additional renewable energy generation and battery storage, improving island-wide power reliability and contributing to the State of Hawai’i’s goal of achieving 100% renewable energy by 2045.

    In pursuit of innovative renewable energy technologies, the DON’s Marine Energy Development (MED) program explores ways to ensure marine energy – a consistent, clean, and renewable power source – remains a reliable and sustainable energy source for naval facilities and remote applications. As part of the program, the DON’s Wave Energy Test Site (WETS), situated at Marine Corps Base Hawaii on O’ahu, Hawai’i, is the United States’ first and only grid-connected wave energy test site playing a vital role in advancing cutting edge wave energy technology by providing a dynamic real-world environment and supporting wave energy converter

    (WEC) developers. Another Department of Energy project, Ocean Energy, is also scheduled to be grid-connected at WETS within the year.

    In April 2024, the DON launched the Energy & Water Analysis Tool (EWAT) online dashboard that provides timely, accurate installation energy operational data, for agile and responsive energy resilience investments and operational decisions. The next phase of EWAT will include an increased cadence of data reporting, the inclusion of project pipeline impacts on future usage, and the addition of enhancements to track progress against energy and water conservation, carbon-pollution free electricity, and renewable energy goals. Together, they will improve resilience and readiness by ensuring that the Navy and Marine Corps are maximizing the resources they rely on for quality of life, training, logistics, and combat support: energy and water.

    Aligned with the Department of Navy’s Climate Action 2030 strategy and the objectives of Executive Order 14057, the Navy continues its commitment to drive energy innovation and prioritize environmental responsibility. As part of this, the DON released the fifth CSO Serial titled “Shore Energy Goals”, which builds on the DON’s commitment to enhance energy security and targets that commitment with sustainability practices and concrete actions that fortify the reliable, resilient, renewable energy Navy installations and communities need.

    A renewed focus on youth education was brought to the forefront when Assistant Secretary of the Navy for Energy, Installations, and Environment Meredith Berger spoke with Sea Cadets and Naval Junior Reserve Officer Training Corps cadets at a climate and energy technology demonstration in September where she discussed the importance of climate and energy. Berger also joined DON researchers and engineers at the U.S. Armed Forces Recruiting Station in Times Square during Climate Week NYC where they showcased technologies, such as hydrogen-powered fuel cells, small unit power systems, water-conserving firefighting nozzles, atmospheric water generation, and green concrete, to educate students on the DON’s commitment to climate action and inspire them to explore careers in climate and energy focused roles.

    “Having these young Sea Cadets and NJROTC cadets – the future of our nation – learn about our climate and energy technologies was a fantastic way to kick off Climate Week in NYC,” said Berger. “They clearly understand how climate change is impacting our world and how climate readiness is mission readiness for the Navy.”

    The Office of the Assistant Secretary of the Navy for Energy, Installations and Environment serves the Department of the Navy and the nation by enhancing combat capabilities for the warfighter through a focus on communities, critical infrastructure, and climate action. Specifically, the portfolio focuses on renewable, reliable, resilient energy sources, sustainability and construction, maintenance and sustainment of infrastructure, protecting the safety and occupational health of military and civilian personnel; environmental protection in support of mission readiness, planning and restoration ashore and afloat; and conservation of natural and cultural resources.

    MIL Security OSI

  • MIL-OSI Canada: Minister Vandal announces partnership with NFI Group and Manitoba to create the world-leading “All-Canadian Build” facility in Winnipeg

    Source: Government of Canada News

    $15 million from the Government of Canada enables start-to-finish manufacturing of electric and hydrogen fuel-cell transit buses in Canada, creating green jobs and expanding the Green Prairie Economy

    October 25, 2024 – Winnipeg, Manitoba – PrairiesCan

    Creating more clean mass transit options gets Canadians around their communities quicker and helps in our fight against climate change.

    Today, the Honourable Dan Vandal, Minister for PrairiesCan, announced a federal investment of $15 million for NFI Group to expand operations and fully manufacture New Flyer transit buses in Winnipeg, Manitoba. This investment will enable NFI Group to competitively respond to growing demand for Canadian-made zero-emission transit buses, adding hundreds of skilled jobs to the company’s Canadian operations with more opportunities for local suppliers, and growing Manitoba’s role in the green Prairie economy.

    Canadians want greener options, and municipal governments are responding. By increasing bus manufacturing capacity in NFI Group’s Winnipeg-based facilities, Canadian public transit authorities will be able to purchase more Canadian-made zero-emission buses to address their fleet renewal needs. The funding will ensure NFI Group can meet Canadian standards and will support the development of workforce training specific to zero-emission vehicle manufacturing including a proposed “Zero-Emission Pre-Apprenticeship Program.”

    In 2023, Minister Vandal dedicated $100 million of existing PrairiesCan funding over three years to support projects aligned with priorities of the Framework to Build a Green Prairie Economy, which include growing our manufacturing sector and capitalizing on clean electricity to seize new opportunities in the net-zero future. The Framework and funding are intended to encourage greater collaboration among governments and industry, leverage additional funding, and attract new investments across the Prairies.

    MIL OSI Canada News

  • MIL-OSI Asia-Pac: Joint Statement: 7th India-Germany Inter-Governmental Consultations (IGC)

    Source: Government of India

    Posted On: 25 OCT 2024 8:25PM by PIB Delhi

    Growing Together with Innovation, Mobility and Sustainability

    Prime Minister Narendra Modi and Federal Chancellor Olaf Scholz co-chaired the seventh round of India-Germany Inter-Governmental Consultations (7th IGC) on 25 October 2024 in New Delhi. The Delegation included Ministers of Defence, External Affairs, Commerce & Industries, Labour & Employment, Science & Technology (MoS) and Skill Development (MoS) from the Indian side and Ministers of Economic Affairs & Climate Action, Foreign Affairs, Labour & Social Affairs and Education & Research from the German side along with Parliamentary State Secretaries for Finance; Environment, Nature Conservation, Nuclear Safety and Consumer Protection; and Economic Cooperation and Development from the German side, as well as senior officials from both sides.

    2. Prime Minister Narendra Modi warmly welcomed Chancellor Olaf Scholz on his third visit to India as Chancellor. Both leaders sincerely appreciated the renewed momentum in bilateral engagement across government, industry, civil society and academia that has played an instrumental role in advancing and deepening the Strategic Partnership between India and Germany.

    3. Both leaders emphasised the importance of the Asia-Pacific Conference of German Business (APK), which takes place in New Delhi in parallel to the 7th IGC, in strengthening economic ties and strategic partnerships between Germany, India and the Indo-Pacific region as a whole. The decision to host the 2024 conference in India underscores India’s political weight in the Indo-Pacific and globally.

    4. Under the motto “Growing Together with Innovation, Mobility and Sustainability”, the 7th IGC placed particular emphasis on technology and innovation, labour and talent, migration and mobility, climate action, green and sustainable development as well as economic, defence and strategic cooperation. Both sides agree that the aforementioned domains will be the key drivers of our ever more multi-faceted partnership that spans trade, investment, defence, science, technology, innovation, sustainability, renewable energy, emerging technologies, development cooperation, culture, education, sustainable mobility, sustainable resource management, biodiversity, climate resilience and people-to-people ties.

    5. The year 2024 marks the 50th anniversary of the signing of the Inter – Governmental Agreement on Cooperation in Scientific Research and Technological Development which institutionalized the framework of Indo-German cooperation in Science & Technology, research and innovation. In this context, the 7th IGC presented an opportunity to renew the close relationship between India and Germany in this regard and to prioritize the advancement of technology and innovation as a key pillar of cooperation.

    6. During the 6th IGC, both governments had announced the Green and Sustainable Development Partnership (GSDP), which serves as an umbrella for bilateral formats and joint initiatives in this field. Subsequently, both sides signed the Migration and Mobility Partnership Agreement (MMPA) in December 2022 and launched the “India-Germany Vision to Enhance Cooperation in Innovation and Technology” in February 2023. Recalling the outcomes of the 6th IGC and various agreements concluded by the two sides thereafter, both governments launched the “India-Germany Innovation and Technology Partnership Roadmap” and introduced the “Indo-German Green Hydrogen Roadmap”, whose aim is to promote the market ramp-up of Green Hydrogen.Growing Together for Peace, Security and Stability

    7. The two leaders noted the Pact for the Future and reaffirmed their commitment to upholding shared values and principles including democracy, freedom, international peace and security and a rules-based international order in line with the purposes and principles of the UN Charter. Both governments also underscored their commitment to strengthen and reform the multilateral system including expansion of both permanent and non-permanent categories of membership of the UN Security Council to reflect contemporary realities, address current and future challenges and to support and preserve peace and stability across the world. The two leaders called for text-based negotiations at the IGN within a fixed timeframe.

    8. India and Germany agreed that the difficulties of the UN Security Council to effectively address regional and global crises offer a compelling reminder of the urgent need for reform. As members of the “Group of Four (G4)”, India and Germany reiterated their call for a Security Council that is efficient, effective, transparent and reflective of 21st century realities.

    9. The leaders expressed their deepest concern over the war raging in Ukraine including its terrible and tragic humanitarian consequences. They reiterated the need for a comprehensive, just, and lasting peace in line with international law, consistent with the purposes and principles of the UN Charter, including respect for sovereignty and territorial integrity. They also noted the negative impacts of the war in Ukraine with regard to global food and energy security, especially for developing and least developed countries. In the context of this war, they shared the view that the use, or threat of use, of nuclear weapons is unacceptable. They underscored the importance of upholding international law, and in line with the UN Charter, reiterated that all states must refrain from the threat of or use of force against the territorial integrity and sovereignty or political independence of any state.

    10. The leaders expressed their shared interest in achieving peace and stability in the Middle East. They unequivocally condemned the Hamas’ terror attacks on October 7, 2023 and expressed concern over the large-scale loss of civilian lives and the humanitarian crisis in Gaza. They called for the immediate release of all hostages taken by Hamas and an immediate ceasefire as well as the urgent improvement of access and sustained distribution of humanitarian assistance at scale throughout Gaza. The leaders underscored the need to prevent the conflict from escalating and spilling over in the region. In this regard, they called on all regional players to act responsibly and with restraint. Both sides also emphasized the urgent need to protect the lives of civilians and facilitate safe, timely and sustained humanitarian relief to civilians, and in this regard urged all parties to comply with international law. The leaders were also deeply concerned about the rapidly deteriorating situation in Lebanon, called for an urgent cessation of hostilities and agreed that a solution to the conflict in Gaza and in Lebanon can only be reached by diplomatic means. The United Nations Security Council Resolution 1701 outlines the path towards a diplomatic solution along the Blue Line. The leaders reaffirmed their commitment to a negotiated two-state solution, leading to the establishment of a sovereign, viable and independent State of Palestine, living within secure and mutually recognized borders, side by side in dignity and peace with Israel, taking into account Israel’s legitimate security concerns.

    11. The leaders underscored that as the world’s two largest democracies, India and the EU have a common interest in ensuring security, prosperity and sustainable development in a multi – polar world. They emphasized the importance of deepening the India-EU Strategic Partnership which would not only benefit both sides but also have a far-reaching positive impact globally. The leaders also expressed their strong support to the India-EU Trade and Technology Council that would serve as an innovative platform towards closer engagement in the critical areas of trade, trusted technologies and security. They agreed to coordinate efforts, both bilaterally and at the EU level, to take forward key connectivity initiatives including India-Middle East-Europe Economic Corridor in which India, Germany and EU are members as well as the EU Initiative Global Gateway.

    12. Both leaders underscored the crucial importance of a comprehensive Free Trade Agreement, Investment Protection Agreement and an Agreement on Geographical Indications between the European Union and India, while calling for an early conclusion of the negotiations.

    13. Both leaders unequivocally condemned terrorism and violent extremism in all its forms and manifestations, including the use of terrorist proxies and cross-border terrorism. Both sides agreed that terrorism remains a serious threat to international peace and stability. They further called for concerted action against all terrorist groups, including groups proscribed by the United Nations Security Council (UNSC) 1267 Sanctions Committee. Both sides also called upon all countries to continue to work towards eliminating terrorist safe havens and infrastructure as well as to disrupt terrorist networks and financing in accordance with international law.

    14. Both leaders noted with concern the emerging threats from the use of new and emerging technologies for terrorist purposes such as unmanned aircraft systems, use of virtual assets by terrorists and terrorist entities and the misuse of information and communication technologies for radicalization. In this regard they welcomed the adoption of Delhi Declaration on Countering the use of New and Emerging Technologies for Terrorism Purposes adopted during the conduct of UNCTC meetings in India in 2022.

    15. Recognizing a shared commitment to combat terrorism and strengthen the framework for global cooperation in this regard, both leaders emphasized the importance of upholding international standards on anti-money laundering and combating the financing of terrorism by all countries, including in FATF. Both sides called for bringing the perpetrators of terrorist acts to justice. Both sides reaffirmed their commitment to hold regular consultations of the Joint Working Group on Counter Terrorism to strengthen channels for real time sharing of intelligence and coordination of counter-terrorism efforts. Both sides also committed to continued exchange of information about sanctions and designations against terror groups and individuals, countering radicalism, and terrorists’ use of the internet and cross-border movement of terrorists.

    16. With a view to ensuring closer collaboration to prevent, suppress, investigate and prosecute criminals, including crime related to terrorism, India and Germany concluded the Mutual Legal Assistance Treaty in Criminal Matters (MLAT). Both leaders agreed that the India-Germany MLAT is an important milestone in strengthening security cooperation between the two countries that will enable sharing of information and evidence, mutual capacity building and sharing of best practices between the two countries.

    17. As strategic partners with a shared interest in deepening security cooperation, both sides concluded the Agreement on the Exchange and Mutual Protection of Classified Information thereby creating a legal framework for cooperation and collaboration between Indian and German entities and providing guidance on how classified information should be handled, protected and transmitted.

    18. With a view to better appreciating foreign policy perspectives in key regions across the world, both governments decided to establish an India-Germany Dialogue on West Asia and North Africa (WANA) between the respective Foreign Ministries, which would be in addition to long-standing dialogue mechanisms on Africa and East Asia. Both governments also expressed satisfaction with regular consultations on key thematic issues of mutual concern including policy planning, cyber-security, cyber issues and United Nations.

    19. Recognizing the need for a deeper understanding of each other’s perspectives, including amongst think tanks and foreign and security policy experts, both governments underscored the usefulness of India-Germany Track 1.5 dialogue between Indian Council of World Affairs (ICWA), the Research and Information System for Developing Countries (RIS) and MEA from the Indian side and German Institute for Global and Area Studies (GIGA), the German Institute for International and Security Affairs (SWP) and the German Federal Foreign Office. The next meeting of this dialogue format is planned for November 2024. Both governments also appreciated the launch of a Track 1.5 Dialogue on East Asia and agreed that these exchanges help both sides better align and coordinate their outreach. With a view to sustaining this momentum, both sides agreed to convene the next edition of the Track 1.5 Dialogue Mechanisms at the earliest opportunity.

    20. Both sides are committed to promoting a free, open, inclusive, peaceful and prosperous Indo-Pacific built on international law, mutual respect for sovereignty, and peaceful resolution of disputes, and underpinned by effective regional institutions. Both sides reaffirmed their unwavering support for ASEAN’s unity and centrality. The Government of India welcomed Germany’s leadership in the capacity-building pillar of the Indo-Pacific Oceans Initiative (IPOI) and its commitment of up to 20 Million EUR via a competitive call for ideas under its International Climate Initiative in 2022 to strengthen the resilience of Pacific Island States against climate-related loss and damage.

    21. Germany congratulated India on its successful G20 Presidency which brought the development agenda to centre stage in G20. Both Leaders acknowledged that from initiating a platform on Compact with Africa (CwA) during the German G20 Presidency to inclusion of the African Union as a permanent member of the G20 during India’s Presidency, the G20 has come a long way to ensure that the voice of the Global South is amplified. India and Germany expressed their support to the priorities set by the Brazilian G20 Presidency, especially Global Governance Reforms.Strengthening Defence and Strategic Cooperation

    22. Recognizing the shared goal of intensifying defence ties between the two countries, the Government of India welcomed the efforts of the German Federal Government to facilitate faster export clearances, including through favourable regulatory decisions such as the General Authorisation/General Licences (AGG) regime. Both sides committed to supporting strategic exports to India and encouraged co-development, co-production and joint research between the respective defence industries. Both governments appreciated the defence roundtable held in New Delhi on 24 October, to strengthen the defense industrial partnership between India and Germany.

    23. In addition to regular visits and increasing interactions between the armed forces, both sides look forward to the next High Defence Committee (HDC) meeting to be held in India next year with a view to developing defence cooperation as a key pillar of the Strategic Partnership between India and Germany. India and Germany also agreed to finalize cooperation in peacekeeping related training between the Centre for UN Peacekeeping (CUNPK), New Delhi and its counterpart in Germany, the Bundeswehr United Nations Training Centre in Hammelburg (GAFUNTC) and looked forward to the Peacekeeping Ministerial Meeting in Berlin in 2025.

    24. Both sides stressed the importance of the Indo-Pacific for prosperity and security as well as for addressing global challenges. Germany will enhance its engagement with the region in line with the Federal Government’s policy guidelines for the Indo-Pacific. Both sides also highlighted the importance of freedom of navigation and of unimpeded maritime routes in accordance with International Law, as reflected in the United Nations Convention on the Law of the Sea (UNCLOS) 1982, in all maritime domains including in the Indo-Pacific. In this context, both governments declared their joint intent to conclude a Memorandum of Arrangement regarding mutual logistics support and exchange between the armed forces of India and Germany to further intensify defence and security ties and to establish a basis for provision of mutual logistics support including in the Indo-Pacific theatre. With a view to deepening cooperation in the Indo-Pacific, Germany will permanently deploy a Liaison Officer in the Information Fusion Centre – Indian Ocean Region (IFC-IOR) at Gurugram to monitor the marine traffic in IOR, further augmenting close cooperation in this region.

    25. Both sides welcomed Germany’s growing engagement in the Indo-Pacific region in the field of security and defence cooperation and appreciated the successful cooperation of the Indian and German air forces during exercise TARANG SHAKTI in August 2024 as well as the port call in Goa and joint naval exercises between the German Naval Frigate “Baden-Württemberg” along with the Combat Support Ship “Frankfurt Am Main” and the Indian Navy. Germany also welcomed the port call of Indian naval ship INS TABAR to Hamburg in July 2024.

    26. Both governments agreed to intensify bilateral exchanges on security and defence issues also through enhancing research, co-development and co-production activities bilaterally, under EU mechanisms and with other partners. In this regard, both sides will support enhanced industry level cooperation in the defence sector with a specific focus on technology collaboration, manufacturing/co-production and co-development of defence platforms and equipment. Germany also welcomes India’s application for observer status in the Eurodrone Programme of OCCAR (Organisation for Joint Armament Co-operation).Partnering for Critical and Emerging Technologies, Science and Innovation

    27. Both leaders expressed their appreciation on the successful 50 years of long standing collaboration in science and technology between the two countries and reaffirmed their support to expand it further through launching the ‘India-Germany Innovation and Technology Partnership Roadmap’ which will serve as a guideline to the public and private sectors and research institutions of the two countries to take forward our cooperation in the areas of renewable energy, start-ups, semiconductors, AI and quantum technologies, climate risk and sustainable resource management, climate change adaptation as well as agroecology Both leaders further identified space and space technologies as an important and promising area for future prosperity, development, and possible cooperation.

    28. The two leaders expressed their satisfaction at the growing exchanges between the two countries in the field of research & education and growing number of Indian students studying in Germany. Both leaders also acknowledged the flagship role of the Indo-German Science and Technology Centre (IGSTC) in promoting bilateral industry-academia strategic research and development partnerships. Both leaders welcomed the recent initiatives of IGSTC and signing of Joint Declaration of Intent to support 2+2 projects in the field of advanced materials. Understanding the importance of IGSTC, both leaders expressed their desire to expand and forge new partnerships anchored in shared values and driven by innovation led technology development and manufacturing.

    29. Both Leaders acknowledged the launching of the first ever basic research consortia model between the two countries namely, International Research Training Group (IRTG), jointly by Department of Science and Technology (DST) & German Research Foundation (DFG) with the involvement of first group of researchers from IISER Thiruvananthapuram and Würzburg University on Photoluminescence in Supramolecular Matrices. Underpinning science and innovation landscape, they expressed their desire to initiate an Indo-German Innovation and Incubation Exchange Programme to leverage collective expertise and capacity for fostering scientific innovation and incubation ecosystems of academic & research institutions.

    30. Both Leaders also expressed their appreciation and satisfaction over the high level of engagement as exemplified by India’s participation in mega-science facilities at Facility for Anti-Proton and Ion Research (FAIR) and Deutsche Elektronen Synchrotron (DESY) in Germany. They extended their commitment including financials to ensure timely execution of the FAIR facility. The two leaders also acknowledge the continuation of the cooperation at the synchrotron radiation facility PETRA-III and the free-electron laser facility FLASH at DESY.

    31. Both governments welcomed the steadily increasing partnerships in Higher Education which facilitate dual and joint degrees and intensify collaborative research and academic and institutional exchanges between Universities and Institutions of Higher Education. In particular, both sides expressed their appreciation and full support for the first ever Indo-German joint Masters degree programme in “Water Security & Global Change”, a joint initiative of TU Dresden, RWTH-Aachen and IIT-Madras (IITM) funded by DAAD as well as a new initiative of TU Dresden and IITM to conclude an agreement establishing a “transCampus” to deepen bilateral cooperation in teaching, research, innovation and entrepreneurship. Both governments also welcomed the signing of the MoU between IIT Kharagpur and the DAAD, which will enable joint funding for Indo-German university cooperation projects. Both sides expressed their strong support for the dedicated call of the “German Indian Academic Network for Tomorrow” (GIANT) under SPARC (Scheme for Promotion of Academic and Research Collaboration) highlighting cooperation between Indian and German universities.

    32. With a view to further strengthening digital and technology partnerships between India and Germany, both governments agreed to share experience and expertise in digital public infrastructure (DPI), e.g. to explore ways in which Germany can leverage India’s expertise in DPI and the strengths of the Indian IT industry to drive innovation and digital transformation in both countries. As an important forum for exchanges on digital topics such as internet governance, tech regulations, digital transformation of economy, and emerging digital technologies, both sides welcomed the finalization of the Work Plan for 2023-24 formulated by the Indo-German Digital Dialogue (IGDD).

    33. Both sides will endeavour to leverage AI to advance the SDG, recognizing the need for an innovation-friendly, balanced, inclusive, human-centric and risk-based approach to the governance of AI. Digital solutions such as image detection and AI are playing an important role in revolutionising agriculture by assisting farmers and enhancing agricultural productivity, climate resilience, carbon sinks and sustainability. Both countries are running national programmes to facilitate the growth of digital agriculture and have agreed to intensify their Cooperation in Digital Agriculture, AI and IoT to foster ongoing cooperation, innovation and exchanges for modernising agriculture.

    34. Both governments underlined the strategic importance of collaboration in the field of critical and emerging technologies, innovation and skill development. Reaffirming the priorities for bilateral cooperation, as laid down in the Innovation and Technology Partnership Roadmap, both governments agreed to focus on collaboration in innovation, skill development and critical and emerging technologies. Forging closer linkages between the industry and academia of the two countries in key technology areas would be prioritized, in recognition of a shared commitment to ensuring an open, inclusive and secure technology architecture, built on mutual trust and respect, and reflecting shared values and democratic principles. Based on that, the two countries would achieve outcome oriented and mutually beneficial technology collaboration in identified sectors.

    35. In furthering cooperation in the field of research in disaster mitigation, tsunami warnings, coastal hazards, early warning systems, disaster risk reduction and oceanography, polar sciences, biology and biogeochemistry, geophysics and geology, both Governments welcomed the signing of the Memorandum of Understanding between Indian National Centre for Ocean Information Services (INCOIS) and Helmholtz-Zentrum Potsdam – Deutsches GeoForschungsZentrum, and between National Centre for Polar and Ocean Research (NCPOR) and AlfredWegener-Institut, Helmholtz-Zentrum für Polar- und Meeresforschung (AWI).

    36. Both Governments also welcomed the bilateral agreement in the biological, physical and mathematical sciences between National Centre for Biological Sciences (NCBS) and International Centre for Theoretical Sciences (ICTS), both centres of the Tata Institute of Fundamental Research (TIFR), under the Department of Atomic Energy (DAE), India and Max-Planck-Gesellschaft (MPG), Germany. This agreement will facilitate the exchange of scientists, including students and research staff, between the various Max Planck Institutes with ICTS and NCBS.

    37. Both Leaders noted with appreciation the collaboration between M/s New Space India Ltd and M/s GAF AG for upgrading the international ground station at Neustrelitz, Germany for the reception and processing of data from OceanSat – 3 and RISAT – 1A satellites. Partnership for a Green and Sustainable Future

    38. Both sides acknowledged the need for green, sustainable, climate resilient and inclusive development to achieve net zero emissions. Both governments aim to substantially enhance bilateral, trilateral and multilateral cooperation in climate action and sustainable development. Both sides acknowledged the progress achieved thus far under the Indo-German Green and Sustainable Development Partnership (GSDP). This partnership, guided by shared commitments, seeks to accelerate the implementation of the goals outlined in the Paris Agreement and the SDGs. In this context, both sides stressed the need to work jointly for an ambitious outcome of the upcoming UNFCCC COP29, in particular on the New Collective Quantified Goal (NCQG). Both sides will respond positively to the outcomes of COP28, including the first Global Stocktake, in light of national circumstances.

    39. Both sides appreciated the stocktaking of progress during the Ministerial meeting on the GSDP objectives. To contribute to the implementation of the GSDP, both sides are committed to regular dialogue within the existing working groups and other bilateral formats and initiatives. The next meeting of the Ministerial Mechanism shall take place at the latest within the framework of the next India-Germany Inter-Governmental Consultations, to conduct a stocktaking of the progress on GSDP objectives to achieve the Paris Agreement goals and SDGs. Both sides reaffirmed their intention to closely cooperate on combatting climate change and therefore expressed their intention to hold a meeting of the Indo-German Climate Working Group in the near future.

    40. Under the umbrella of the GSDP, both sides inter alia:

    a. Launched the Indo-German Green Hydrogen Roadmap. The Leaders agreed that the Roadmap will help support India’s ambition for production, usage and export of Green Hydrogen while also contributing to a swifter adoption of Green Hydrogen as a sustainable source of energy in both countries

    b. Launched the GSDP Dashboard, a publicly accessible online tool, which showcases the intensive cooperation between Germany and India under the GSDP. It gives an overview of key innovations and the broad range of experience covered by India-Germany cooperation. It facilitates stocktaking of the joint progress towards achieving GSDP objectives, and provides key information to relevant stakeholders on innovative solutions for global challenges.

    c. Signed a Joint Declaration of Intent to renew and further elevate the partnership in accordance with a shared vision to promoting in India sustainable urban mobility for all, recognizing the importance of green and sustainable urbanization for inclusive social and economic development and the strong results of the Green Urban Mobility Partnership since its establishment in 2019.

    d. Highly appreciated the achievements and vision for the future of the International Solar Alliance (ISA) and agreed to intensify our cooperation within ISA.

    e. Appreciated the cooperation in the area of halting deforestation and degradation and reversing the trend by restoring forest landscapes in support of the implementation of the Rio Conventions and the SDGs.

    41. The leaders acknowledged that the Indo-German Energy Forum (IGEF), through its various activities, has played a pivotal role in strengthening the general bilateral economic relations between Germany and India, promoting economic growth, and addressing global climate change challenges.

    42. Both sides underscored the role of the 4th Global RE-INVEST Renewable Energy Investors Meet & Expo, held in September 2024 in Gandhinagar with Germany as a partner country, in bringing together key stakeholders in the renewable energy sector. Both governments recalled the ‘India-Germany Platform for Investments in Renewable Energy Worldwide’ which was launched during RE-INVEST as a key initiative to fast-track renewable energy investments, foster business collaborations and expand global supply chains. The platform will accelerate the expansion of renewable energy in India and worldwide through exchanges on green financing, technology and business opportunities.

    43. Both governments expressed their wish to continue to strengthen the cooperation through the Joint Working Group on Biodiversity and acknowledged that CBD COP 16 marks a crucial moment in the global effort to implement the goals of the Global Biodiversity Framework.

    44. Recalling the deliberations and outcomes of the Joint Working Group on Waste management and Circular Economy which has created opportunities by intensifying exchanges on experiences and technologies between the two countries, both sides agreed to explore the possibility of deepening cooperation within these structures, for instance, focusing future work on inter alia Solar Waste recycling. They appreciated the Indo-German environment cooperation on the effective and efficient implementation of ambitious objectives and policies in order to prevent waste, especially plastics, from entering the marine environment. India and Germany agreed to closely cooperate towards establishing a global legally binding agreement on plastic pollution.

    45. Both leaders acknowledged the progress made under the Triangular Development Cooperation (TDC), which pools mutual strengths and experiences to offer sustainable, viable and inclusive projects in third countries as per their priorities to support the achievement of SDGs and climate targets in Africa, Asia and beyond. Both sides welcomed the encouraging results of the pilot projects in Cameroon, Ghana and Malawi, and the progress made in the ongoing initiatives with Benin and Peru. In view of the successful implementation of the aforementioned initiatives, both governments have agreed to commence upscaling of the pilot projects with Cameroon (agriculture), Malawi (women entrepreneurship) and Ghana (horticulture) in 2024 and beyond. Furthermore, both sides welcomed the start of the three millet related pilot projects: two with Ethiopia and one with Madagascar. Additionally, both sides have launched the institutional mechanism to reach out to the partners, select and implement their joint initiatives on a full scale and to this end, both governments established a Joint Steering Committee and a Joint Implementation Group.

    46. The leaders reaffirmed that Gender Equality is of fundamental importance and investing in the empowerment of women and girls has a multiplier effect in implementing the 2030 Agenda. They reiterated their commitment to encourage women-led development and enhancing womens’ full, equal, effective and meaningful participation as decision-makers for addressing global challenges inclusively while noting Germany’s Feminist Foreign and Development Policies in this regard. Both sides reaffirmed their desire to strengthen Indo-German cooperation on promoting the critical role of women in green and sustainable development.

    47. In addition, both sides welcomed the milestones already achieved with respect to the existing initiatives and new commitments for financial and technical cooperation under the framework of the GSDP, as follows:

    a.New commitments in all core areas of the GSDP of more than 1 billion EUR as agreed during the negotiations on development cooperation between the Government of India and the Government of the Federal Republic of Germany in September 2024, adding up to accumulated commitments of around 3.2 billion EUR since beginning of the GSDP in 2022;

    b.Under the Indo-German Renewable Energy Partnership, the cooperation focused on innovative solar energy, green hydrogen, other renewables, grid integration, storage and investments in the renewable energy sector to facilitate an energy transition and to address the need for a reliable, round the clock renewable power supply.

    c.The “Agroecology and Sustainable Management of Natural Resources” cooperation benefits the vulnerable rural population and small-scale farmers in India by fostering income, food security, climate resilience, soil health, biodiversity, forest ecosystems and water security.

    d.Both sides reiterated their intention to continue their successful collaboration on sustainable urban development.

    Building resilience through Trade and Economic collaboration

    48. Both leaders hailed the consistent high performance in terms of bilateral trade between the two countries in the recent years and encouraged stakeholders in India and Germany to further strengthen trade and investment flows. The leaders also noted the strong two-way investments between India and Germany and the positive impacts of such investments in diversifying the global supply chains. In this context, the leaders expressed confidence that the APK 2024, the bi-annual flagship forum of German Business with participation of top-level business executives from Germany, is a crucial platform to showcase the immense opportunities available in India for German businesses.

    49. Both sides underlined the long-standing presence of German businesses in India and Indian businesses in Germany and agreed to work towards deepening economic and trade linkages between the two countries. In this context, both sides welcomed the holding of the meeting of the India-Germany CEO Forum which serves as a high-level platform to engage business and industry leaders from India and Germany. They also underlined the achievements of the Indo-German Fast Track Mechanism to resolve trade and investment related issues, and are ready to continue its operation.

    50. In recognition of the importance of Micro, Small and Medium Enterprises (MSMEs)/Mittelstand in economic growth and job creation, both sides acknowledged the growth in bilateral investment and the success of the ‘Make in India Mittelstand’ Programme, which supports German Mittelstand enterprises seeking to invest and do business in India. In a similar vein, both governments also recognised the key role played by start-ups in fostering innovation, and commended the German Accelerator (GA) for successfully facilitating start-ups to address the Indian market, and welcomed plans to establish its presence in India. Both sides noted that a corresponding programme to assist Indian start-ups in gaining market access in Germany could further enhance economic cooperation between the two countries.

    Strengthening Labour Markets, Mobility and People-to-People Ties

    51. As bilateral cooperation on skilled migration expands across multiple fronts, involving collaboration between federal and state governments, as well as private sector stakeholders, both sides committed to full implementation of the provisions of the Migration and Mobility Partnership Agreement (MMPA). In line with the commitments outlined in the MMPA both sides remain dedicated to promoting fair and legal labor migration. This approach is guided by international standards that ensure migrant workers are treated with dignity and respect, including fair recruitment practices, transparent visa processes, and the protection of workers’ rights. By focusing on these principles, both countries aim to facilitate the mobility of skilled workers in a manner that benefits all parties while safeguarding against exploitation and ensuring compliance with international labor standards.

    52. Building on the MMPA, the two sides concluded a JDI in the field of Employment and Labour, to enhance bilateral cooperation and exchange in areas of mutual interest between the respective ministries. The German side informed that it will support a feasibility study on international reference classification, a G20 commitment undertaken by the Indian G20 presidency in 2023. Both leaders look forward to the signing of the Memorandum of Understanding in the field of occupational diseases, rehabilitation and vocational training of workers with disabilities between the Employees’ State Insurance Corporation (ESIC), the Directorate General of Employment (DGE) and the German Social Accident Insurance (DGUV).

    53. Both leaders noted that Indian professionals comprise over 1/4th of all blue card holders in Germany and that Indian students now represent the largest cohort of international students in Germany. Regarding this, they recognized the complementarities that exist between the requirements of skills and talents in Germany and the vast reservoir of young, educated and skilled persons in India, who can be an asset to the German labour market. The Federal Employment Agency will deepen the existing exchange with the National Skill Development Council, India (NSDC) and other similar Government agencies at national and state levels. Both sides welcomed the launch of the new national strategy of the German Federal government to promote skilled migration from India.

    54. Both leaders also expressed satisfaction on the signing of a Memorandum of Understanding on Skill Development and Vocational Education and Training which would leverage the strengths of India and Germany towards creating a pool of skilled workforce in India and strengthening the participation of women, especially in the areas of green skills. Both sides agreed to include elements of facilitating international mobility of labour.

    55. Both sides remain committed to the goal of expanding the teaching of the German language in India, including in secondary schools, universities and vocational education centers. They encouraged Indian and German States, culture centers and educational institutions to further promote the teaching of each other’s languages in India and Germany, including the training of language teachers. Both sides welcomed the joint efforts of the DAAD and the Goethe Institute to develop a format for the formalized training and further education of German teachers leading to a university certificate recognized in India.

    56. Both sides reaffirmed the contribution of highly skilled professionals for economic growth, noted with satisfaction the results achieved under the programme “Partnering in Business with Germany”, and renewed the JDI on advanced training of corporate executives and junior executives from India.

    57. With the Migration and Mobility Partnership Agreement (MMPA), both sides also agreed to address irregular migration. For this purpose, both sides established a cooperation in the field of return since the entry into force of the MMPA. Both sides welcomed the progress achieved so far and underline the importance of further developing and streamlining cooperation through appropriate procedural arrangements.

    58. The leaders welcomed the growing ties between the two sides and their respective nationals. They acknowledged the wide range of Consular issues stemming from these growing ties and the need for dialogue on all matters related to Consular issues. They agreed to work towards early establishment of an appropriate format for a bilateral dialogue on various Consular, Visa and other issues affecting nationals of the other side residing in their respective territories.

    59. Both sides acknowledged the role of their youth as cultural ambassadors and catalysts for innovation and promoting people – people linkages between the two countries. In this context, both leaders stressed on the importance of youth cooperation and noted the proposal for establishing forum for youth exchanges and delegations between both sides. Both sides also agree to facilitate student exchanges on a mutual basis.

    60. Both sides noted with satisfaction the substantial work being done in the field of culture and welcomed efforts towards expanding scope of the Memorandum of Understanding on Museum Cooperation between Indian and German national museums such as the Prussian Heritage Foundation and the National Gallery of Modern Art, India.

    61. In line with the G20 New Delhi Leader’s Declaration (2023), both leaders underscored the intention to cooperate closely with regards to the restitution and protection of cultural goods and the fight against illicit trafficking of cultural property at national, regional and state levels to enable its return and restitution to the country and community of origin as relevant, and called for sustained dialogue and action in that endeavour.

    62. Both Governments also appreciated substantial cultural and academic exchanges made possible via initiatives such as the establishment of Indian academic chairs at universities in Germany.

    63. Both leaders expressed satisfaction at the deliberations held at the 7th IGC and reaffirmed their commitment to further expand and deepen the Indo-German Strategic Partnership. Chancellor Scholz thanked Prime Minister Modi for his warm hospitality and conveyed that Germany looks forward to hosting the next IGC.

     

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    MJPS/SR

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  • MIL-OSI Asia-Pac: India and Germany Sign Joint Declaration to Boost R&D in Advanced Materials

    Source: Government of India (2)

    India and Germany Sign Joint Declaration to Boost R&D in Advanced Materials

    Exchange MoUs in presence of PM Shri Narendra Modi and Chancellor Sholz: Intent of research in advance materials:

    Dr. Jitendra Singh Leads Bilateral Talks with German counterpart Bettina Stark-Watzinger: Commitment to seek mutual dividends

    Posted On: 25 OCT 2024 6:59PM by PIB Delhi

    In a significant step to advance Indo-German cooperation in science and technology, Union Minister Dr. Jitendra Singh and German Federal Minister Ms. Bettina Stark-Watzinger exchanged a Joint Declaration of Intent for cooperation in research and development on advanced materials with commitment to seek mutual dividends.

    The exchange, held in the presence of Prime Minister Narendra Modi, underscores both nations’ commitment to fostering cutting-edge research that will drive innovation and address global challenges.

     

     

    The bilateral talks between Dr. Jitendra Singh and Ms. Stark-Watzinger, which took place prior to the Plenary between two Heads of State, were a pivotal part of the Golden Jubilee celebration of Indo-German science and technology collaboration.

    During the meeting, Dr. Jitendra Singh expressed gratitude to Ms. Stark-Watzinger for her consistent support in strengthening the Indo-German partnership. He highlighted recent collaborative successes, such as the launch of 2+2 joint projects in areas like “Waste to Wealth” and sustainable packaging, as well as a new call for proposals in AI for Sustainability.

    These initiatives, along with the Joint Declaration of Intent, will be presented as key outcomes at the upcoming Indo-German Inter-Governmental Consultations led by the Prime Minister of India and the German Chancellor, said the Minister.

    Dr. Jitendra Singh also lauded the Indo-German Science and Technology Centre (IGSTC) for its instrumental role in promoting joint research, having supported over 50 projects and connected young researchers from both nations. Discussions included the recent establishment of the International Research Training Group (IRTG) between IISER Trivandrum and Würzburg University, focusing on photoluminescence in supramolecular matrices, a testament to the advanced, collaborative research being fostered between the two countries.

    Additionally, Dr. Jitendra Singh reaffirmed India’s commitment to long-term international projects such as the Facility for Antiproton and Ion Research (FAIR) in Darmstadt, where Indian scientists play a key role in advanced materials and particle physics research.

    The bilateral discussions also highlighted national initiatives such as India’s Anusandhan National Research Foundation (ANRF) and the National Quantum Mission, both aimed at scaling up R&D across priority areas including electric mobility, sustainable agriculture, and advanced materials.

     

     

    The two Ministers also discussed potential collaboration in hydrogen energy, with Dr. Jitendra Singh noting that India’s National Hydrogen Mission could offer promising joint opportunities in R&D, production, and sustainable energy storage.

    As the meeting concluded, Dr. Jitendra Singh and Ms. Stark-Watzinger affirmed their commitment to aligning innovation and research efforts across areas such as biotechnology, environmental technology, and healthcare. Both leaders emphasized the importance of fostering academic exchange and talent development, ensuring that the Indo-German partnership continues to drive innovative solutions for a sustainable and resilient global future.

     

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    NKR/AG/KS

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  • MIL-OSI Asia-Pac: NTPC and Indian Army Join Hands for Round-the-Clock Power Supply using Green Hydrogen

    Source: Government of India (2)

    Posted On: 25 OCT 2024 4:59PM by PIB Delhi

    NTPC has partnered with the Indian Army to establish a Solar Hydrogen-based Microgrid at Chushul, Ladakh. This significant step will provide a stable power supply using Green Hydrogen in off-grid Army locations. Today, Hon’ble Defence Minister Shri Rajnath Singh laid the foundation stone of this unique project through video conferencing in the presence of Chief of India defence services, CMD, NTPC and other senior officials from Ministry of Defence, Indian Army and NTPC.

    NTPC has designed this innovative Solar Hydrogen-based microgrid system to operate independently, using hydrogen as an energy storage medium to supply 200kW of power round-the-clock throughout the year. This system will replace existing diesel gensets at off-grid Army locations, providing a sustainable power supply despite harsh winter conditions, where temperatures drop to -30°C at an altitude of 4,400 meters. NTPC will maintain the project for 25 years, aiming to support Indian soldiers stationed in these strategically significant tough terrains and challenging climate.

    The Solar-Hydrogen microgrid is set to replace existing diesel generators currently in use at off-grid Army locations. These systems offer numerous advantages, including the integration of renewable energy sources, a stable power supply under adverse conditions, reduced carbon emissions, and the promotion of a cleaner and sustainable energy ecosystem as they are highly scalable and suitable for various applications. Moreover, these systems combine the reliability of battery storage with the extended energy storage capability of hydrogen, ensuring a consistent power supply.

    Given Ladakh’s high solar irradiance and low temperatures, this project will facilitate the production and utilization of green energy, eliminating reliance on fuel logistics and enhancing self-sufficiency in remote areas affected by road connectivity disruptions. Once operational, it would usher in a new era of decarbonisation of the defence sector far off the Himalayas.

    Additionally, NTPC started a trial run of a hydrogen bus in Leh recently towards achieving its renewable energy targets and carbon neutrality in Ladakh. The company is further setting up a hydrogen fuelling station and solar plant along with five fuel cell buses for operation on intracity routes in Leh.

    NTPC is committed to achieving 60GW of renewable energy capacity by 2032 and becoming a major player in green hydrogen technology and energy storage domain. The company is pursuing several initiatives toward decarbonisation, including hydrogen blending, carbon capture, electric buses, and smart NTPC townships.

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    JN/ SK

    (Release ID: 2068135) Visitor Counter : 44

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  • MIL-OSI Asia-Pac: List of Outcomes: Visit of Chancellor of Germany to India for the 7th Intergovernmental Consultations

    Source: Government of India (2)

    Posted On: 25 OCT 2024 4:50PM by PIB Delhi

    Sr. No. Name of Treaties/MoUs/Documents/Declarations Exchanged from the German side by Exchanged from the Indian side by
    Treaties
    1. Mutual Legal Assistance Treaty (MLAT) in Criminal Matters Ms. Annalena Baerbock, Foreign Minister Shri Raj Nath Singh, Minister of Defence
    Agreements
    2. Agreement on the Exchange and Mutual Protection of Classified Information Ms. Annalena Baerbock, Foreign Minister Dr. S. Jaishankar, External Affairs Minister
    Documents
    3. Indo-German Green Hydrogen Road Map Dr. Robert Habeck, Minister of Economic Affairs and Climate Action Shri Piyush Goyal, Commerce & Industry Minister
    4. Road Map on Innovation and Technology Ms. Bettina Stark-Watzinger, Minister of Education and Research (BMBF) Shri Ashwini Vaishnaw, Minister of Electronics and Information Technology
    Declarations
    5. Joint Declaration of Intent in the field of Employment and Labour Mr. Hubertus Heil, Federal Minister of Labour and Social Affairs Dr. Mansukh Mandaviya, Minister of Labour & Employment
    6. Joint Declaration of Intent for Joint Cooperation in Research and Development on Advanced Materials Ms. Bettina Stark-Watzinger, Minister of Education and Research (BMBF) Dr. Jitendra Singh, Minister of State (I/C) of Science and Technology
    7 Joint Declaration of Intent on the Indo-German Green Urban Mobility Partnership for All Dr. Barbel Kofler, Parliamentary State Secretary, BMZ Shri Vikram Misri, Foreign Secretary
    MoUs
    8. Memorandum of Understanding on Cooperation in the field of Skill Development and Vocational Education and Training Ms. Bettina Stark-Watzinger, Minister of Education and Research (BMBF) Shri Jayant Chaudhary, Minister of State (I/C) of Skill Development and Entrepreneurship

     

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  • MIL-OSI Asia-Pac: English Translation of Press Statement by Prime Minister at the Joint Press Conference with Chancellor of Germany

    Source: Government of India

    Posted On: 25 OCT 2024 4:33PM by PIB Delhi

    Your Excellency, Chancellor Scholz,
    Delegates of both countries,
    Friends from the media,

    Namaskar!

    Guten Tag!

    First of all, I would like to extend a warm welcome to Chancellor Scholz and his delegation to India. I am happy that we have had the opportunity to welcome you to India for the third time in the last two years.

    You can gauge the extent of the strategic partnership between India and Germany from the activities over the last two-three days. This morning, we had the opportunity to address the Asia Pacific Conference for German Business.

    The first IGC of my third term concluded a short while ago. Right now, we have just come from the CEO Forum meeting. At the same time, German naval ships are making port calls in Goa. And the sports world is not far behind—friendly matches are also being played between our hockey teams.

    Friends,

    Our partnership under the leadership of Chancellor Scholz has gained new momentum and direction. I congratulate Chancellor Scholz for Germany’s “Focus on India” strategy, which provides a blueprint to modernize and elevate the partnership between two large democracies in the world in a comprehensive manner.

    Today, our innovation and technology roadmap has been launched. A whole-of-government approach to Critical and Emerging Technologies, Skill Development, and Innovation has also been agreed upon. This will strengthen cooperation in areas such as Artificial Intelligence, Semiconductors, and Clean Energy. It will also help in building secure, trusted, and resilient global supply value chains.

    Friends,

    Growing cooperation in the defense and security sectors reflects our deep mutual trust. The agreement on the exchange of classified information is a new step in this direction. The Mutual Legal Assistance Treaty signed today will further bolster our joint efforts to combat terrorism and separatist elements.

    Both countries are constantly working on their shared commitment to green and sustainable growth. Today, taking our Green and Sustainable Development Partnership forward, we have agreed on the second phase of the Green Urban Mobility Partnership. Additionally, the Green Hydrogen Roadmap has also been launched.

    Friends,

    The ongoing conflicts in Ukraine and West Asia are a matter of concern for both countries. India has always maintained that war cannot solve any problem at all, and stands ready to make every possible contribution towards the restoration of peace.

    We both agree on ensuring freedom of navigation and adherence to the rule of law in accordance with international laws in the Indo-Pacific region.

    We also agree that the Global Forums created in the twentieth century are not capable of addressing challenges of the twenty-first century. There is a need for reforms in various multilateral institutions, including the UN Security Council.

    India and Germany will continue to actively cooperate in this direction.

    Friends,

    People-to-people connections are an important pillar of our relationship. Today, we have decided to work together in skills development and vocational education. An agreement has also been signed between IIT Chennai and Dresden University, which will allow our students to take advantage of a Dual Degree program.

    India’s young talent is contributing to the progress and prosperity of Germany. We welcome the “Skilled Labour Strategy” released by Germany for India. I am confident that our young talent pool will get better opportunities to contribute to Germany’s development. I congratulate Chancellor Scholz for his faith in the capacity and capability of Indian talent.

    Excellency,

    Your visit to India has given new momentum, energy, and enthusiasm to our partnership. I can confidently say that our partnership has clarity, and the future is bright.

    In German, Alles klar, Alles gut!

    Thank you very much.
    Danke schön.

    DISCLAIMER -This is the approximate translation of Prime Minister’s remarks. Original remarks were delivered

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: English Translation of Opening Remarks by the Prime Minister at the 7th India-Germany Inter-Governmental Consultations

    Source: Government of India (2)

    Posted On: 25 OCT 2024 4:03PM by PIB Delhi

    Excellency,

    A warm welcome to you and your delegation on the occasion for the 7th India-Germany Inter-Governmental Consultations.

    Excellency,

    This is your third trip to India. Fortunately, this is also the first IGC meeting of my third term. In a way, this is a triple celebration of our friendship.

    Excellency,

    In 2022, during the last Inter-Governmental Consultation held in Berlin, we made important decisions for bilateral cooperation.

    In the last two years, there has been encouraging progress in various areas of our strategic partnership. Increasing cooperation in areas such as defence, technology, energy, and green and sustainable development has become a symbol of mutual trust.

    Excellency,

    The world is going through a period of tension, conflict, and uncertainty. There are also serious concerns about the rule of law and freedom of navigation in the Indo-Pacific region. In such times, the strategic partnership between India and Germany has emerged as a strong anchor.

    This is not a transactional relationship; this is a transformational partnership between two capable and strong democracies—a partnership that is contributing to building a stable, secure, and sustainable future for the global community and humanity.

    In this regard, the “Focus on India” strategy you released last week is most welcome.

    Excellency,

    I am pleased that we are taking many new and important initiatives to expand and elevate our partnership. We are moving from a whole-of-government approach to a whole-of-nation approach.

    Industries from both countries are connecting innovators and young talent. Democratizing technology is our shared commitment. Today, the Roadmap on Innovation and Technology is being released, which will further strengthen our cooperation in important areas such as Artificial Intelligence, Semiconductors, and Clean Energy.

    We have just participated in the Asia-Pacific Conference of German Business, and shortly, we will also participate in the CEOs Forum. This will strengthen our cooperation even further. Our efforts to diversify and de-risk our economies will gain momentum, helping to create secure, reliable, and trusted supply value chains.

    In line with our commitment to climate action, we have created a platform for global investment in renewable energy. Today, the Green Hydrogen Roadmap has also been released.

    We are pleased that education, skill development, and mobility are advancing between India and Germany. We welcome the Skilled Labour Mobility Strategy released by Germany. I believe today’s meeting will elevate our partnership to new heights.

    I’d now like to hear your thoughts.

    After that, my colleagues will brief us on the steps being taken to foster mutual cooperation in various areas.

    Once again, a very warm welcome to you and your delegation in India.

    DISCLAIMER -This is the approximate translation of Prime Minister’s remarks. Original remarks were delivered

    MIL OSI Asia Pacific News

  • MIL-OSI USA: California’s “infrastructure decade” continues: $5 billion invested this week alone

    Source: US State of California 2

    Oct 25, 2024

    What you need to know: Over the course of just the last week, California has invested more than $5 billion in local and state infrastructure projects – improving the daily lives of millions of Californians.

    SACRAMENTO – Today, Governor Gavin Newsom announced more than $1.3 billion in infrastructure investments being made throughout the state to improve rail and transit projects, bridges and highways, and walking and biking pathways. This builds on nearly $4 billion in federal and state funding that was just announced by the California Transportation Commission (CTC).

    Together, the more than $5 billion in investments in just the last week are part of Governor Newsom’s build more, faster infrastructure agenda. Find projects building your community at build.ca.gov.

    From making people’s commutes easier and safer to strengthening our state’s critical infrastructure to better withstand extreme weather, we’re investing in projects that better the lives of millions of Californians. Thanks to the historic funding from the Biden-Harris Administration, ‘infrastructure decade’ in California is a reality.

    Governor Gavin Newsom

    Why this matters

    Today’s funding announcement is part of a multiyear, multibillion dollar investment to modernize and expand the state’s public transit and rail network and prioritizes safety, equity, climate action and economic prosperity in the transportation decisions California makes. 

    “Under Governor Newsom’s leadership, California is furthering its commitment to fund transit projects that boost the state’s zero-emissions goals,” said California Transportation Secretary Toks Omishakin. “This critical investment is yet another major step towards growing a more sustainable and equitable transit system for those who work, live and play in California.”

    More than $1.3 billion from the Transit and Intercity Rail Capital Program (TIRCP)

    This funding will support 27 new public transportation projects intended to improve rail and transit throughout the state. These projects will give Californians real alternatives to driving and help to keep California on track to meet the state’s ambitious climate goals. Over $4.8 billion has been invested since 2023 in transit and passenger rail projects from competitive TIRCP grants.

    Learn more about the projects here.

    Nearly $4 billion from the California Transportation Commission 

    Last week, the CTC allocated more than $3.8 billion for projects that will improve coastal rail lines, freight corridors, bridges, highway interchanges and system enhancements aimed to increase accessibility for multi-modal users. 

    The projects approved include improvements for locations along the coastal LOSSAN (Los Angeles-San Diego-San Luis Obispo) rail corridor, four hydrogen fueling stations in San Bernardino, a freeway connector in Bakersfield, a bikeway in Redding and a pedestrian overcrossing in Berkeley. Learn more about the projects here.

    Find projects that are building California’s climate-friendly future at Build.ca.gov.

    Press Releases, Recent News

    Recent news

    News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Sarah Soto-Taylor, of Sacramento, has been appointed Undersecretary of the Government Operations Agency, where she has been Deputy Secretary for Business Transformation and Strategic…

    News What you need to know: State and federal partners today signed a Memorandum of Understanding (MOU) to boost cooperation on multi-benefit water projects in the Sacramento River Basin.  SACRAMENTO – Governor Gavin Newsom today highlighted a new agreement between…

    News What you need to know: California Highway Patrol officers conducted blitz operations this weekend, targeting sideshows that led to 22 arrests and the seizure of 36 vehicles. These actions are part of the state’s ongoing enforcement surge in the region, in…

    MIL OSI USA News

  • MIL-OSI USA: Rep. Barragán Secured $36.5 Million for Zero-Emission Rail In California

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE                                     

    October 25, 2024

    Contact: Kevin McGuire, 202-538-2386 (mobile)

    Kevin.McGuire@mail.house.gov

    Washington D.C. –  Today, Congresswoman Nanette Barragán (CA-44) announced the California Air Resources Board (CARB) has been awarded a $36.5 million grant from the U.S. Department of Transportation to replace 10 diesel locomotives with nine zero-emission, battery-electric locomotives and one hydrogen fuel cell locomotive. Congresswoman Barragán urged Federal Rail Administrator Amit Bose to fund this project through the Department’s Consolidated Rail Infrastructure and Safety Improvements Program earlier this year in a letter to the administrator.

    “We all know rail has a critical role in moving goods through our ports and limit the number of drayage trucks on our highways.  However, it is also a major source of the air and noise pollution that causes significant harm to frontline communities like Wilmington and Long Beach,” said Rep. Barragán. “I applaud CARB, as well as PHL and the other industry partners for their leadership as early investors in this zero-emission locomotive technology.  They have responded to the calls of frontline residents and Members of Congress to reduce their pollution and expedite the transition of a rail zero-emission future. The health of our communities is worth every dollar of this investment.”

    Five of the new locomotives will be operated by Pacific Harbor Line (PHL) and used in and near the ports of Los Angeles and Long Beach.  This will build on PHL’s successful pilot demonstration of a battery-electric switcher locomotive in the San Pedro Bay Ports Complex.

    This federal investment will significantly benefit the health and quality of lie of frontline communities that have been disproportionately harmed by railroad pollution for decades.  In total, the project is estimated to eliminate 28.5 tons of smog-forming nitrogen oxide and 590 metric tons of carbon dioxide annually.

    # # #

    Congressmember Nanette Barragán represents California’s 44th District.  She sits on the House Energy and Commerce Committee and works on environmental justice and healthcare issues.  She is also Chair of the Congressional Hispanic Caucus (CHC).

    MIL OSI USA News

  • MIL-OSI China: 1st reusable satellite payloads delivered

    Source: China State Council Information Office 2

    Bian Zhigang, deputy head of the China National Space Administration (CNSA), speaks at the payloads handover ceremony held by CNSA in Beijing, capital of China, Oct. 24, 2024. [CNSA/Handout via Xinhua]
    The scientific payloads for space breeding and other sci-tech experiments carried by China’s first reusable and returnable satellite, Shijian-19, were delivered to Chinese and foreign users on Thursday.
    At the payloads handover ceremony held by the China National Space Administration (CNSA) in Beijing on Thursday, the CNSA and the China Aerospace Science and Technology Corporation signed payload delivery certificates with domestic and international users, including those from Thailand and Pakistan.
    Bian Zhigang, deputy head of CNSA, said the Shijian-19 mission fully leverages the advantages of the new generation retrievable space experiment platform, conducting space breeding experiments of about 1,000 species of germplasm resources, providing crucial support for the innovation of germplasm resources in China. The mission has also offered a valuable in-orbit validation opportunity for domestically produced components and raw materials.
    According to Meng Lingjie, director of the Earth Observation System and Data Center under the CNSA, the Shijian-19 mission has made a breakthrough in its recovery module. The satellite platform can be reused more than 10 times, significantly reducing manufacturing costs and improving operational efficiency.
    The satellite serves as a space testing platform that enables convenient transportation of payloads between Earth and space, offering high-quality experimental services, said Meng, adding that it has wide-ranging applications in space sci-tech experiments such as space breeding as well as space pharmaceutical and material manufacturing.

    China successfully retrieved its first reusable and returnable test satellite, Shijian-19, at the Dongfeng landing site in north China’s Inner Mongolia Autonomous Region at 10:39 a.m. (Beijing Time), Oct. 11, 2024, said the China National Space Administration (CNSA). [Photo/Xinhua]
    The satellite carried 500 kg of experiment payloads back to Earth, greatly enhancing the capability for payload recovery, according to Meng. It can also provide a high-quality microgravity environment for experiments.
    When the satellite was in orbit, seven new technology experiments were carried out, including microgravity hydrogen production, low-frequency magnetic communications, inflatable sealed cabin and wireless power transmission.
    The satellite also carried nine space science payloads to conduct research in fields such as carbon nanomaterials and devices, solid catalyst materials, and oral and dental science materials.
    According to Liu Luxiang, executive director general of the Institute of Crop Sciences under the Chinese Academy of Agricultural Sciences, the Shijian-19 mission carried seeds of about 1,800 plant materials and more than 1,000 species of microorganisms, encompassing nearly all major kinds of agricultural products.
    The mission not only provides solid support to China’s space breeding, but also creates a collaboration platform for international counterparts, said Liu, who is also the chief scientist of China’s space breeding project. The satellite carried rice seeds from Thailand, seeds of wheat, rice, corn and beans from Pakistan, as well as crop seeds from other countries.
    “In face of the challenge of global food security, it is necessary to continuously enhance food production, develop new genetic resources that promote nutrition and health, and cultivate new grain varieties that are more resilient to climate change with improved stress tolerance,” Liu said.
    Over the past 30 years, China has developed over 300 crop varieties through its space breeding technologies. These varieties cover an annual cultivation area of about 2 million hectares, with remarkable social and economic benefits, according to Liu.
    The Shijian-19 satellite was sent into orbit from the Jiuquan Satellite Launch Center in northwest China on Sept. 27. It returned to Earth on Oct. 11.

    MIL OSI China News

  • MIL-OSI China: Green action plan for BREP members

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

    Energy ministers from across the world spoke highly of China’s role in promoting global energy transition and helping developing countries access more affordable clean energies at the Third Belt and Road Energy Ministerial Conference which concluded on Thursday in Qingdao, Shandong province.

    “Creative cooperation with China and initiatives like the Belt and Road Energy Partnership will help us boost our drive toward energy transition across the world,” said Phiona Nyamutoro, minister of state for mineral development in Uganda. “We hope that we get to tap into many opportunities from China, like technological transfer, research and also green financing.”

    BREP was initiated by China’s National Energy Administration and currently has 34 members. It supports countries in formulating more ambitious green energy development plans based on their own energy endowments and development needs, to continuously enhance the reliability and resilience of green energy supplies.

    Iran became a new member this year and in an interview with China Daily, Iranian Minister of Energy Abbas Aliabadi expressed expectations for BREP to have a positive impact on global energy cooperation and promote global development through innovative approaches.

    “Such a collaborative platform to promote cooperation among different countries is beneficial to all parties. I am very pleased with initiatives like those from China, where different countries can raise their issues on this platform and work together to address them,” he said. “China serves as a great example in energy transition, with significant developments in renewable energy that have made substantial contributions to global carbon reduction efforts.”

    Keo Rottanak, Cambodia’s minister of mines and energy, said “Cambodia and China have forged a very strong bilateral relationship, especially through the Belt and Road Initiative which has given benefits to countries around the world, especially developing countries.”

    The Belt and Road Green Energy Cooperation Action Plan (2024-29), released on Wednesday at the conference, advocated that BREP members will carry out no less than five joint research and development projects and no less than five collaborations in areas such as hydrogen energy, new types of energy storage, advanced nuclear power, carbon capture, utilization and storage.

    In the next five years, BREP members will carry out no less than 25 capacity-building projects in the energy sector, and explore the establishment of an international cooperative research platform for clean energy, the action plan noted.

    MIL OSI China News

  • MIL-OSI Russia: NSU scientists have received the first pilot batch of synthetic fuel from non-recyclable plastic

    Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    A catalytic unit for processing liquid products of polymer waste pyrolysis into synthetic fuel has been installed in the laboratory of the Department of Physical Chemistry of the Faculty of Natural Sciences of Novosibirsk State University. During the first three weeks of its operation, scientists obtained the first three liters of kerosene. At present, optimal operating modes of the capillary reactor are being determined, important catalyst regeneration cycles are being worked out, optimal parameters of the catalytic process are being selected, a catalyst is being selected, the most important performance indicators of the unit are being monitored, and the resulting product is being analyzed.

    The equipment was provided to NSU scientists by specialists from Onium Plus LLC (Yaroslavl). They were also involved in the installation of the equipment. Publication about the joint work of scientists from the Department of Physical Chemistry Faculty of Natural Sciences of NSU, the Boreskov Institute of Catalysis of the Siberian Branch of the Russian Academy of Sciences and representatives of this company to create a technology for converting non-recyclable plastic into synthetic fuel was published on the NSU website in December 2023. You can read it by link.

    The jointly developed technology consists of several stages. First, non-recyclable plastic undergoes pyrolysis – thermal destruction without oxygen at temperatures from 400 to 600 ° C. The output is pyrolysis oil – a heterogeneous liquid mixture of hydrocarbons containing a large number of undesirable impurities, dark yellow in color with a strong unpleasant odor. Then the multicomponent mixture is divided into fractions based on boiling point. Pyrolysis oil and its fractions are not yet suitable for use as fuel – due to the high content of unsaturated hydrocarbons, this substance can damage internal combustion engines. It can be converted into usable fuel through the use of catalytic technology. Representatives of Onium Plus LLC asked NSU researchers to develop it, who conducted preliminary experiments with nickel-molybdenum catalysts on an aluminum oxide support. The first positive results were obtained using them in tubular reactors – a transparent, colorless liquid with a faint odor of kerosene was synthesized. However, before using it for internal combustion engines, it is necessary not only to develop a new composition and method of catalyst synthesis, but also to modify the hydrogenation plant, select the optimal parameters of the catalytic process, and work out all cycles of automatic catalyst regeneration. For this purpose, the company’s specialists created two more catalytic installations – a pilot and a laboratory. The pilot one is working at the enterprise, and the laboratory one was made available to NSU researchers at the end of May. Parallel trials of the catalytic process are currently underway. NSU scientists select catalyst compositions, process conditions, temperature conditions, pressure, flow rates, and company specialists conduct life tests on an enlarged scale. An important condition of the experiment is that both installations must operate around the clock in a continuous mode.

    — The liquid product of plastic waste pyrolysis, which mainly consists of medium and heavy fractions with a large amount of unsaturated hydrocarbons, is fed from the feedstock tank using a high-pressure liquid pump to the mixer, where it is mixed with hydrogen under a pressure of 40 atmospheres. Then the mixture is fed in portions to the reactor, inside which a catalytic reaction occurs under conditions of high pressure and high temperature. Depending on the composition of the catalyst, hydrogenation, hydrocracking or hydroisomerization occurs. At the moment, this is hydrocracking at a pressure of 40 atmospheres and a temperature of 360 – 400 degrees Celsius, which is considered the norm for this process. These parameters are selected depending on what product needs to be obtained. In this case, the task is to obtain kerosene, — said Anton Lysikov, a researcher at the Department of Physical Chemistry of the Faculty of Natural Sciences of Novosibirsk State University, about the device of the installation.

    From the reactor, the product mixture enters the separator via a coil, where it cools down and separates into gas and liquid. The gas goes up, and the liquid gradually condenses in the accumulator. When the liquid weight reaches a specified value, it is discharged using the lock method: the first valve of the discharge line is turned on, and the liquid product is poured into the buffer tank. After the weight decrease is recorded, this valve closes and the second one opens, the liquid enters the receiver, and the product yield is assessed in accordance with the scale readings. Then the second valve is also closed until the next sampling. This design with automatic overflow allows to avoid a significant pressure drop when removing products from the process and to accumulate them stably during long-term experiments.

    — Our first attempts to process the liquid product of polymer waste pyrolysis resulted in obtaining a substance similar to what we are synthesizing now, only its freezing temperature was about zero degrees Celsius. This figure is much higher than what we intended to achieve. Therefore, we had to select a catalyst composition that would initiate a cracking and isomerization reaction, leading to a strong decrease in the freezing temperature. And now it is already -20 degrees. In three weeks of continuous round-the-clock work, we extracted about 3 liters of high-quality non-freezing kerosene from the pyrolysis product, which can be used as a fuel additive. The production rate is 6 ml per hour, — said Ekaterina Parkhomchuk, Associate Professor of the Department of Physical Chemistry of the NSU Natural Sciences Department.

    The finished product undergoes a thorough analysis: researchers study its fractional, group, component and elemental composition. They measure the sulfur and chlorine indicators at the outlet, flash point and turbidity. These parameters are very important for the further use of the final product, they determine its practical purpose.

    The first experiments were suggested by NSU scientists to start with widespread and well-known systems: nickel-molybdenum catalysts on an aluminum oxide carrier. They managed to obtain the first positive results.

    — We have gained the first experience — we have determined the activity of this catalyst, observed the process, acquired the skill of working with unusual raw materials, and identified the main problem. It is that pyrolysis oil is very different from traditional oil. Most often, such raw materials contain long-chain hydrocarbons and are characterized by a high content of C17 hydrocarbons, which have high freezing and boiling points. They accumulate in the cold zones of the reactor, forming “wax” plugs, due to which pressure drops can occur. Having encountered this problem, we began to select hydrocracking and hydroisomerization catalysts to break long-chain hydrocarbons into smaller molecules, making them branched. This allowed us to solve the problem of reactor waxing, as well as reduce the freezing and turbidity temperatures of the product, and at the output we received higher quality and flammable hydrocarbons, — explained Ekaterina Vorobyova, a postgraduate student of the Department of Physical Chemistry of the Faculty of Natural Sciences of NSU.

    First, a hydrogenation catalyst was obtained, then a hydroisomerization and hydrocracking catalyst, on which the first positive results were obtained: the cloud point began to decrease significantly, hydrocarbons began to burn differently. Now scientists are working on a catalyst with increased activity in hydrocracking and hydroisomerization, while obtaining a product with a cloud point below -20. It is important to note that this is its stable operation for several hundred hours. But the most important thing is that products were obtained that flash and burn as needed, hydrogenation and hydrocracking processes are underway, the products contain a large number of isomers, which is required to obtain synthetic motor fuels and oils.

    The installation with the new catalyst has been operating continuously for almost four weeks, and the catalyst activity has not been lost, no pressure drops have been observed, and no coking has occurred.

    — The main thing is that while developing this technology, we continue to improve our skills in working with this special raw material, which is so different from oil. For us, this is a very interesting task, since plastic waste is really growing. And not all of it is recyclable. Burying it in landfills is not a solution to the problem. For me, from a scientific point of view, it is interesting to identify the features of processing this raw material, as well as the requirements for the properties of the catalyst, which will allow us to stably and for a long time obtain high-quality motor fuels and oils from non-recyclable waste into valuable fuel, — said Ekaterina Vorobyova.

    Scientists assess the results of their work as encouraging, and the production of fuel from pyrolysis products as profitable, because only 5% of the original substance turns into gas, the rest of the mass turns into high-quality synthetic fuel. At the moment, this technology can be considered almost ready for implementation, which will be determined only by the speed of construction of catalytic units. The main difference between production samples and a laboratory unit is the number of reactors. In a laboratory unit, there is one reactor, and in industrial ones, it is theoretically possible to install hundreds and even thousands. Then the productivity will increase many times over.

    — Each type of catalyst or new parameters, before being implemented, requires thousands of running hours. The more parallel tests, the faster the process optimization and confirmation of the success of certain solutions. By the end of the year, we will put into operation two additional laboratory units for hydrogenation, increasing the number of simultaneously running processes. But the most interesting task, in our area of responsibility, which we are currently implementing, is the creation of a pilot unit with dozens of micro reactors simultaneously. This module will allow the process to be carried out with a capacity of liters per hour. All systems will be integrated in it, as in a “large” plant. It is equipped with its own hydrogen source, its own hydrogen purification and recompression unit and an automatic regeneration system. In addition to confirming the readiness of the catalytic system for industrial use, this device will also confirm the economic aspects of fuel production. The cost of the process will be very accurately determined, which is necessary for further industrial implementation, — explained Alexander Klimov, a representative of the company OOO Onium Plus.

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

    MIL OSI Russia News

  • MIL-OSI Economics: OEUK news New skills passport tool being delivered to support an integrated skills landscape 17 October 2024

    Source: Offshore Energy UK

    Headline: OEUK news

    New skills passport tool being delivered to support an integrated skills landscape

    17 October 2024

    Joint RenewableUK and OEUK media release – Thursday 17th October 2024

    A new scheme to help workers across the UK’s energy mix, including oil and gas, to find new roles in offshore wind will be launched in January by RenewableUK and Offshore Energies UK (OEUK), supported by the UK and Scottish Governments.

    The Energy Skills Passport enables workers and employers to easily identify which qualifications and training standards, such as health and safety, are needed for specific roles in offshore wind. As part of the Energy Skills Passport, an interactive tool will provide clarity on which qualifications are mutually recognised across the sector to avoid any duplication of training courses, as well as mapping out potential career pathways. It will be managed jointly by OEUK and RenewableUK and will be available to a limited number of testers later this year before it is rolled out in full in the new year. The initial version focuses on the transition to offshore wind and future versions will include other parts of the energy sector.

    The UK’s oil and gas sector supports over 200,000 jobs and the UK’s offshore wind industry already employs 32,000 people – that number is expected to rise to over 100,000 by 2030. Research commissioned by OEUK shows that 90% per cent of oil and gas industry workers have skills which can be transferred to future offshore jobs in renewable energy. Roles which may be suitable for workers to transfer into in offshore wind include maintenance technician, commissioning technician, high-voltage senior authorised person and troubleshooting technician.

    RenewableUK’s Executive Director of Offshore Wind Jane Cooper said:

    “The upsurge in offshore wind jobs over the course of this decade and beyond creates excellent opportunities for highly-skilled oil and gas workers to bring their valuable experience to the clean energy sector. We’re working closely with our colleagues at Offshore Energies UK, and the UK and Scottish Governments, to make that transition as smooth as possible across all parts of the energy industry. The Energy Skills Passport is a great example of what we can achieve together and we’ll continue to look for other potential areas of work that can further support the transition of workers between sectors.”

    Offshore Energies UK’s Director of Supply Chain & People, Katy Heidenreich said:

    “Collaboration is key to unlocking the full potential of the UK’s offshore energy sector so we are proud to be driving this initiative with RenewableUK. This industry and its people have proven excellence and a broad range of transferable skills from engineering and construction to legal and commercial expertise. This passport can help them succeed right across our diverse energy mix. This is one way the UK can back its workforce to build a homegrown energy transition that leaves no-one behind. It’s part of the toolkit this industry is assembling to partner with government to solve the challenges and seize the opportunities of our energy future.”

    The Co-Chair of the Offshore Wind Industry Council Richard Sandford said:

    “The Energy Skills Passport is a crucial step forward for workers to embrace opportunities in the offshore wind industry. It simplifies movement between essential offshore energy sectors, enabling workers to apply their knowledge to the energy transition. The milestone highlights effective collaboration between OEUK and RenewableUK, supported by the UK and Scottish Governments.”

    (ends)


    Notes

    For further information, contact

    1. RenewableUK’s members are building our future energy system, powered by clean electricity. We bring them together to deliver that future faster; a future which is better for industry, billpayers, and the environment. We support over 490 member companies to ensure increasing amounts of renewable electricity are deployed across the UK and to access export markets all over the world. Our members are business leaders, technology innovators, and expert thinkers from right across industry. RenewableUK’s events programme is available here.
    2. Offshore Energies UK is the leading trade body for the UK’s offshore energies industry. Its membership includes over 400 organisations with an interest in offshore oil, gas, carbon capture and storage, hydrogen, and offshore wind. Working together with its members, it is a driving force supporting the UK in ensuring security of energy supply while helping to meet its net zero ambitions.

    Share this article

    MIL OSI Economics

  • MIL-OSI United Kingdom: Australia and the United Kingdom to power up cooperation on climate and energy

    Source: United Kingdom – Executive Government & Departments

    Prime Minister Anthony Albanese and The Rt Hon Sir Keir Starmer KCB KC MP, Prime Minister of the United Kingdom, met today on the sidelines of the Commonwealth Heads of Government Meeting in Apia, Samoa.

    Prime Minister Anthony Albanese and The Rt Hon Sir Keir Starmer KCB KC MP, Prime Minister of the United Kingdom, met today on the sidelines of the Commonwealth Heads of Government Meeting in Apia, Samoa.

    This was the first meeting between the two leaders since the election of the Starmer Government.

    The Prime Ministers discussed Australia’s and the United Kingdom’s modern and dynamic relationship, underpinned by close personal ties and strong security, trade and investment links.

    The two leaders considered how the two countries could step-up their work together to meet common challenges and to realise new opportunities.

    Australia and the UK agree that the transition to net zero represents economic opportunity. The Albanese and Starmer Governments believe private capital and the power of government can be leveraged to shape a clean energy future in the interests of working people. The transition paves the way for new industries, new technologies, new job opportunities and a revitalisation of each nation’s industrial base.

    To this end, the Prime Ministers agreed to enhance bilateral cooperation on climate change and energy by negotiating a dynamic new partnership. The Australia–UK Climate and Energy Partnership will focus on the development and accelerated deployment of renewable energy technologies, such as green hydrogen and offshore wind, to support the economic resilience and decarbonisation goals of both countries. 

    The partnership will also build upon the two countries’ long-standing cooperation on international climate action, including on renewable energy and climate finance.

    The Prime Ministers agreed the Minister for Climate Change and Energy of Australia and the Secretary of State for Energy Security and Net Zero of the United Kingdom will take this important work forward.

    The two leaders also announced grant recipients under the Australia-UK Renewable Hydrogen Innovation Partnership Program. Under this program, the two Governments will support six cutting-edge projects focused on industrial decarbonisation. 

    On trade and investment, Prime Ministers discussed gains under the ambitious Australia-United Kingdom Free Trade Agreement. The United Kingdom’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership later this year will also present new opportunities for the region. 

    Discussions on defence and strategic cooperation focused on working together to ensure the AUKUS partnership delivers for the security and stability of the Indo-Pacific and beyond. The two leaders reaffirmed their commitment to negotiating a bilateral treaty, as announced by Defence Ministers in September 2024, to develop the SSN-AUKUS submarine for both nations.  

    The Prime Ministers also reaffirmed their commitment to an approach that sets the highest non-proliferation standards and to sustaining peace, stability and prosperity in the Indo-Pacific region, respectful of sovereignty and rules.

    Prime Minister Anthony Albanese said:

    Australia and the UK are longstanding partners, with common values and aligned strategic interests. It was great to congratulate Prime Minister Starmer in person after his election win in July. 

    We had a productive discussion, including agreeing to negotiate a new climate and energy partnership. This partnership will ensure we maximise the economic potential of the net zero transition, and build on our long-standing cooperation on international climate action and shared commitment to reach net zero emissions by 2050.

    We share a vision for a modern and transformed Australia-United Kingdom relationship, which delivers tangible benefits and prosperity to both our nations and the Indo-Pacific.

    Prime Minister Keir Starmer said:

    The UK and Australia share many things in common, including our governments’ determination to improve the lives of working people, drive economic growth and ensure cleaner, more affordable energy. 

    This partnership underscores our commitment to powering up the UK with clean energy projects that will benefit communities across the country.

    Together, we’re delivering better futures for our two countries, whether that’s through protecting our national security with projects like AUKUS or delivering on our net zero commitments.

    Updates to this page

    Published 25 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Press release: Australia and the United Kingdom to power up cooperation on climate and energy

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

    Prime Minister Anthony Albanese and The Rt Hon Sir Keir Starmer KCB KC MP, Prime Minister of the United Kingdom, met today on the sidelines of the Commonwealth Heads of Government Meeting in Apia, Samoa.

    Prime Minister Anthony Albanese and The Rt Hon Sir Keir Starmer KCB KC MP, Prime Minister of the United Kingdom, met today on the sidelines of the Commonwealth Heads of Government Meeting in Apia, Samoa.

    This was the first meeting between the two leaders since the election of the Starmer Government.

    The Prime Ministers discussed Australia’s and the United Kingdom’s modern and dynamic relationship, underpinned by close personal ties and strong security, trade and investment links.

    The two leaders considered how the two countries could step-up their work together to meet common challenges and to realise new opportunities.

    Australia and the UK agree that the transition to net zero represents economic opportunity. The Albanese and Starmer Governments believe private capital and the power of government can be leveraged to shape a clean energy future in the interests of working people. The transition paves the way for new industries, new technologies, new job opportunities and a revitalisation of each nation’s industrial base.

    To this end, the Prime Ministers agreed to enhance bilateral cooperation on climate change and energy by negotiating a dynamic new partnership. The Australia–UK Climate and Energy Partnership will focus on the development and accelerated deployment of renewable energy technologies, such as green hydrogen and offshore wind, to support the economic resilience and decarbonisation goals of both countries. 

    The partnership will also build upon the two countries’ long-standing cooperation on international climate action, including on renewable energy and climate finance.

    The Prime Ministers agreed the Minister for Climate Change and Energy of Australia and the Secretary of State for Energy Security and Net Zero of the United Kingdom will take this important work forward.

    The two leaders also announced grant recipients under the Australia-UK Renewable Hydrogen Innovation Partnership Program. Under this program, the two Governments will support six cutting-edge projects focused on industrial decarbonisation. 

    On trade and investment, Prime Ministers discussed gains under the ambitious Australia-United Kingdom Free Trade Agreement. The United Kingdom’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership later this year will also present new opportunities for the region. 

    Discussions on defence and strategic cooperation focused on working together to ensure the AUKUS partnership delivers for the security and stability of the Indo-Pacific and beyond. The two leaders reaffirmed their commitment to negotiating a bilateral treaty, as announced by Defence Ministers in September 2024, to develop the SSN-AUKUS submarine for both nations.  

    The Prime Ministers also reaffirmed their commitment to an approach that sets the highest non-proliferation standards and to sustaining peace, stability and prosperity in the Indo-Pacific region, respectful of sovereignty and rules.

    Prime Minister Anthony Albanese said:

    Australia and the UK are longstanding partners, with common values and aligned strategic interests. It was great to congratulate Prime Minister Starmer in person after his election win in July. 

    We had a productive discussion, including agreeing to negotiate a new climate and energy partnership. This partnership will ensure we maximise the economic potential of the net zero transition, and build on our long-standing cooperation on international climate action and shared commitment to reach net zero emissions by 2050.

    We share a vision for a modern and transformed Australia-United Kingdom relationship, which delivers tangible benefits and prosperity to both our nations and the Indo-Pacific.

    Prime Minister Keir Starmer said:

    The UK and Australia share many things in common, including our governments’ determination to improve the lives of working people, drive economic growth and ensure cleaner, more affordable energy. 

    This partnership underscores our commitment to powering up the UK with clean energy projects that will benefit communities across the country.

    Together, we’re delivering better futures for our two countries, whether that’s through protecting our national security with projects like AUKUS or delivering on our net zero commitments.

    Updates to this page

    Published 25 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: English Translation of Keynote Address by Prime Minister at the 18th Asia-Pacific Conference of German Businesses (APK 2024)

    Source: Government of India (2)

    Posted On: 25 OCT 2024 2:55PM by PIB Delhi

    Excellency Chancellor Scholz,

    Vice Chancellor Dr. Robert Habeck,

    Ministers of the Indian Government,

    Dr. Busch, Chairman of the Asia-Pacific Committee of German Business,

    Industry leaders from India, Germany, and Indo-Pacific countries,

    Ladies and gentlemen,

    Namaskar!

    Guten Tag!

    Friends,

    Today is a very special day.

    My friend, Chancellor Scholz, has come to India for the fourth time.

    His first visit was as a Mayor, and the next three have been during his terms as the Chancellor, which highlights his focus on India-Germany relations.

    The Asia-Pacific Conference of German Business is being held in India after a gap of 12 years.

    On one hand, a CEO forum meeting is taking place, and on the other, our navies are exercising together. German naval ships are currently on a port call in Goa. Additionally, the seventh Inter-Governmental Consultations between India and Germany will be held shortly.

    Clearly, the friendship between India and Germany is deepening at every step, on every front.

    Friends,

    This year marks the 25th anniversary of the India-Germany Strategic Partnership.

    The next 25 years will see this partnership reach new heights.

    We have created a roadmap for India’s development over the coming 25 years.

    I am happy that at such a critical time, the German Cabinet has released the “Focus on India” document.

    The world’s two strongest democracies,

    Two of the world’s leading economies, together, we can become a force for global good, and the Focus on India document provides a blueprint for this. In this, Germany’s holistic approach and commitment to pursuing the strategic partnership are clearly evident. Especially noteworthy is the trust that Germany has expressed in the skilled workforce of India.

    Germany has decided to increase the number of visas for skilled Indians from 20,000 to 90,000 per year.

    I am confident that this will further boost Germany’s economic growth.

    Friends,

    Our bilateral trade has surpassed 30 billion dollars.

    Today, while hundreds of German companies operate in India, Indian companies are also rapidly expanding in Germany.

    India is becoming a prime center of diversification and de-risking and is emerging as a hub of global trade and manufacturing. Given this scenario, now is the most opportune time for you to make in India, and make for the world.

    Friends,

    The Asia-Pacific Conference has played an essential role in strengthening relations between the EU and the Asia-Pacific region. But I don’t see this platform as limited to trade and investment alone.

    I see it as a partnership for the Indo-Pacific region and a better future for the world. The world needs stability and sustainability, trust and transparency. These values must be emphasized on every front, whether in society or supply chains. Without them, no country or region can envision a brighter future.

    The Indo-Pacific region is very important for the future of the world. Whether it is in terms of global growth, population, or skills, the contribution and potential of this region are immense.

    This conference, therefore, holds even greater significance.

    Friends,

    The people of India value a stable polity and a predictable policy ecosystem.

    This is why, after 60 years, a government has been elected for a third consecutive term. This trust in India has been strengthened over the last decade through reform, performance, and transformative governance.

    When the common citizen of India feels this way, where else would be better for businesses and investors like you?

    Friends,

    India stands on four strong pillars: Democracy, Demography, Demand, and Data. Talent, technology, innovation, and infrastructure are the tools for India’s growth. Today, an additional great force drives all of these: the strength of Aspirational India.

    That is, the combined power of AI — Artificial Intelligence and Aspirational India — is with us. Our youth are driving Aspirational India.

    In the last century, natural resources accelerated development. In this century, human resources and innovations will propel growth. This is why India is committed to democratizing skills and technology for its youth.

    Friends,

    India is working today for the needs of the future world.

    Whether it is Mission AI,

    Our Semiconductor Mission,

    the Quantum Mission,

    Mission Green Hydrogen,

    Missions related to space technology,

    or the Digital India Mission, all of them aim to provide the best and most reliable solutions for the world. These areas offer numerous investment and collaboration opportunities for all of you.

    Friends,

    India is committed to providing every innovation with a strong platform and the best infrastructure. Our digital public infrastructure is creating endless opportunities for new startups and Industry 4.0. India is also transforming its physical infrastructure with record investments in rail, roads, airports, and ports. There are extensive opportunities here for companies from Germany and the Indo-Pacific region.

    I am pleased that India and Germany are working together on renewable energy.

    Last month, the fourth Global Renewable Energy Investors Meet was organized in Gujarat in collaboration with Germany.

    An India-Germany platform has also been launched for investing in renewable energy at the global level. I hope you will take advantage of the green hydrogen ecosystem that India is developing.

    Friends,

    This is the right time to join India’s growth story.

    When India’s dynamism meets Germany’s precision,

    When Germany’s engineering meets India’s innovation,

    When Germany’s technology combines with India’s talent, a brighter future is envisioned for the Indo-Pacific region and the world.

    Friends,

    You belong to the business world.

    Your mantra is “When we meet, we mean business.”

    But coming to India is not only about business; if you miss India’s culture, cuisine, and shopping, you will miss a lot.

    I assure you: You will be happy, and your family back home will be even happier.

    Thank you very much, and may this conference and your stay in India be both fruitful and memorable.

    Thank you.

    DISCLAIMER -This is the approximate translation of Prime Minister’s remarks. Original remarks were delivered

    MIL OSI Asia Pacific News

  • MIL-OSI China: Industrial coordination of Beijing-Tianjin-Hebei region bears fruit in 10 years

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

    TIANJIN, Oct. 25 — Industrial coordination of the Beijing-Tianjin-Hebei region has yielded rich results with the rise of a number of world-class manufacturing clusters, 10 years after China designated it as a national strategy to foster the regional coordinated development.

    This is underlined in a report on the region’s coordinated development released on Friday at the 2024 Beijing-Tianjin-Hebei Industrial Chain and Supply Chain Conference held in north China’s Tianjin Municipality.

    The industrial added value of the Beijing-Tianjin-Hebei region increased from 1.7 trillion yuan (about 238 billion U.S. dollars) in 2013 to 2.43 trillion yuan in 2023, with a cumulative growth of 43 percent, according to the report.

    The industrial coordination has become a key support for the collaborative development of the Beijing-Tianjin-Hebei region, said Yang Dongmei, deputy director of the Tianjin Industrial and Information Technology Bureau.

    In the first half of this year, the total profit of major industrial enterprises in the Beijing-Tianjin-Hebei region reached a record high of 231 billion yuan, up 10.2 percent year on year.

    The Beijing-Tianjin-Hebei region, with a number of first-rate colleges and universities and abundant high-end research talent, has a solid foundation for developing China’s strategic emerging industries such as integrated circuits, cybersecurity, biomedicine, power equipment, and emergency response equipment.

    According to the report, the output value of two manufacturing clusters in the region — life and health, and power and new energy high-end equipment — have accounted for more than 20 percent of the national total in the respective sectors. The industrial scale of the new generation of information technology application innovation and network security in the region has exceeded half of the national total.

    To further optimize regional industrial division and productivity distribution, the Beijing-Tianjin-Hebei region has laid out six key industrial chains, namely hydrogen energy, new energy and intelligent connected vehicles, biomedicine, cybersecurity and industrial Internet, robots and high-end industrial mother-machines, which refer to machine tools for manufacturing machines.

    “The Beijing-Tianjin-Hebei region boasts strong international influence, which gives it an advantage to be more closely integrated into the global economic network,” said Yin Jihui, director of the Tianjin Industrial and Information Technology Bureau.

    The gross domestic product of Beijing-Tianjin-Hebei, one of the country’s most economically vibrant regions, reached 10.4 trillion yuan in 2023, almost doubling that of 2013, with an average annual growth rate of 5.8 percent.

    MIL OSI China News

  • MIL-OSI United Kingdom: Draft budget hopes to tackle council’s financial challenges head on

    Source: City of Canterbury

    Coping with ever-rocketing external costs and increasing demands for council services are at the heart of Canterbury City Council’s budget proposals for 2025/2026.

    If nothing else changed, rising prices alone would account for an increase in spending of just over £1m.

    To counter this, the draft budget says it has identified £701,000 in efficiency savings and can shave a further £393,000 because of proposed changes to some service levels.

    Cllr Mike Sole, Canterbury City Council’s Cabinet Member for Finance, said: “It is no secret that councils across the country of all political persuasions are facing a really difficult financial situation. We are no different.

    “And drafting this budget is a touch more challenging than it usually is as we’re waiting to find out how much money the new Chancellor will be able to find for councils which are facing a plethora of challenges.

    “Some of our assumptions could well change for the better.

    “As an administration that is determined to be prudent and careful with council taxpayers’ money, we know we are not able to significantly expand the services that are important to us right now.

    “But we are determined to use advances in technology to help us to work smarter, achieve more and generate extra cash especially when it comes to our property portfolio.

    “Finally, the draft budget promises we will put aside the extra money needed to ensure we cement and build on the legacy of the Levelling Up Fund projects.”

    The draft budget also proposes:

    • the introduction of a cultural grant pot of £30,000 per year to support more events and festivals
    • freezing parking charges for more than 4,000 parking spaces in council-owned car parks including Park and Ride, reducing the cost of parking at the Riverside complex by 37% and reversing last year’s increase in School Lane, Herne
    • the introduction of an annual Park and Ride permit for £50 per month or £600 per year saving motorists money
    • the introduction of a Park and Ride corporate account allowing businesses to encourage their staff to park for just £2.50 per day including free parking at the weekend
    • to convert 20 of Canenco’s larger diesel refuse collection vehicles to run on hydrogenated vegetable oil to help cut emissions and help the environment, at a cost of approximately £20,000 a year
    • a 3% increase in council tax meaning people living in an average Band D property will pay an extra 14p per week
    • saving £58,000 by reducing the number of times the grass is cut in amenity sites, such as parks and playing fields, from 18 times a year to 10 times a year

    If accepted, the draft budget suggests most of the council’s fees and charges should only go up by 3%. The exceptions are:

    • a 20% increase for developers seeking what is known as pre-app advice before putting in a press release
    • a 5% increase for beach hut owners except for those at East Cliff which will be reduced by 14%
    • a 5% increase for people using the council’s slipways for launching jet skis etc

    Leader of the Council, Cllr Alan Baldock, said: “Finding more than £1 million in cost savings after years and years of finding ways to be more efficient is no mean feat and is a real testament to officers and we are incredibly grateful for their hard work.

    “We’re determined to do all we can to spot opportunities to invest in improvements to our services so that we can save money in the future and spend it on the key priorities we were elected to deliver.

    “This really is a listening exercise and we want to hear the views of everyone that lives, works and studies in the district.

    “People have become jaded when it comes to consultations around key but difficult issues.

    “I hope our proposed changes to tariffs in School Lane in Herne show we are more than prepared to listen.”

    The Cabinet will decide whether to give permission to consult on the draft budget at its meeting on Monday 4 November at 7pm in the Guildhall, St Peter’s Place, Canterbury.

    If approved, the consultation will run from Monday 11 November 2024 to Monday 6 January 2025.

    Published: 25 October 2024

    MIL OSI United Kingdom