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  • MIL-OSI: Enphase Energy Reports Financial Results for the Second Quarter of 2025

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., July 22, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today financial results for the second quarter of 2025, which included the summary below from its President and CEO, Badri Kothandaraman.

    We reported quarterly revenue of $363.2 million in the second quarter of 2025, along with 48.6% for non-GAAP gross margin. We shipped approximately 1.53 million microinverters, or 675.4 megawatts DC, and 190.9 megawatt hours (MWh) of IQ® Batteries.

    Highlights for the second quarter of 2025 are listed below:

    • IQ® Meter Collar approved by 29 U.S. utilities to date
    • U.S. manufacturing: shipped approximately 1.41 million microinverters and record 46.9 MWh of IQ Batteries
    • Revenue of $363.2 million
    • GAAP gross margin of 46.9%; non-GAAP gross margin of 48.6% with net IRA benefit
    • Non-GAAP gross margin of 37.2%, excluding net IRA benefit of 11.4%
    • GAAP operating income of $37.0 million; non-GAAP operating income of $98.6 million
    • GAAP net income of $37.1 million; non-GAAP net income of $89.9 million
    • GAAP diluted earnings per share of $0.28; non-GAAP diluted earnings per share of $0.69
    • Free cash flow of $18.4 million; ending cash, cash equivalents and marketable securities of $1.53 billion

    Our revenue and earnings for the second quarter of 2025 are provided below, compared with the prior quarter:

    (In thousands, except per share and percentage data)

      GAAP   Non-GAAP
      Q2 2025   Q1 2025   Q2 2024   Q2 2025   Q1 2025   Q2 2024
    Revenue $ 363,153     $ 356,084     $ 303,458     $ 363,153     $ 356,084     $ 303,458  
    Gross margin   46.9 %     47.2 %     45.2 %     48.6 %     48.9 %     47.1 %
    Operating expenses $ 133,486     $ 136,319     $ 135,367     $ 77,781     $ 79,423     $ 81,706  
    Operating income $ 37,007     $ 31,922     $ 1,799     $ 98,613     $ 94,637     $ 61,080  
    Net income $ 37,052     $ 29,730     $ 10,833     $ 89,869     $ 89,243     $ 58,824  
    Basic EPS $ 0.28     $ 0.23     $ 0.08     $ 0.69     $ 0.68     $ 0.43  
    Diluted EPS $ 0.28     $ 0.22     $ 0.08     $ 0.69     $ 0.68     $ 0.43  
     

    Total revenue for the second quarter of 2025 was $363.2 million, compared to $356.1 million in the first quarter of 2025. Our revenue in the second quarter of 2025 included $40.4 million of safe harbor revenue, compared to $54.3 million of safe harbor revenue in the first quarter. Our revenue in the United States for the second quarter of 2025 increased approximately 3%, compared to the first quarter. The increase was the result of seasonality partially offset by lower safe harbor revenue. Our revenue in Europe increased approximately 11% for the second quarter of 2025, compared to the first quarter. The increase in revenue was primarily due to higher microinverter and battery sales as we continued to ramp shipments of our IQ® Battery 5P™ with FlexPhase during the second quarter.

    Our non-GAAP gross margin was 48.6% in the second quarter of 2025, compared to 48.9% in the first quarter. Our non-GAAP gross margin, excluding net benefit from the Inflation Reduction Act (IRA), was 37.2% in the second quarter of 2025, compared to 38.3% in the first quarter. The reciprocal tariffs had a negative impact of approximately two percentage points on margins.

    Our non-GAAP operating expenses were $77.8 million in the second quarter of 2025, compared to $79.4 million in the first quarter. Our non-GAAP operating income was $98.6 million in the second quarter of 2025, compared to $94.6 million in the first quarter.

    We exited the second quarter of 2025 with $1.53 billion in cash, cash equivalents and marketable securities and generated $26.6 million in cash flow from operations in the second quarter. Our capital expenditures were $8.2 million in the second quarter of 2025, compared to $14.6 million in the first quarter of 2025.

    In the second quarter of 2025, we repurchased 702,948 shares of our common stock at an average price of $42.67 per share for a total of approximately $30.0 million. We also spent approximately $3.0 million by withholding shares to cover taxes for employee stock vesting that reduced the diluted shares by 58,332 shares.

    During the second quarter of 2025, we shipped approximately 1.41 million microinverters from manufacturing facilities in the United States that we booked for 45X production tax credits. We continued to ship our IQ8HC™ Microinverters, IQ8P-3P™ Commercial Microinverters, and IQ® Battery 5Ps from these facilities, meeting domestic content requirements.

    We shipped a record 190.9 MWh of IQ Batteries in the second quarter of 2025, compared to 170.1 MWh in the first quarter. More than 11,700 installers worldwide are certified to install our IQ Batteries, compared to more than 10,900 installers worldwide in the first quarter of 2025. In addition, we have 210 MWh of batteries in our fleet currently enrolled in virtual power plant (VPP) programs globally.

    During the second quarter of 2025, we began shipping our fourth-generation Enphase Energy System, which includes the IQ® Battery 10C, IQ® Meter Collar, and IQ® Combiner 6C, to customers in the United States. The IQ Battery 10C is designed to be 30% more energy-dense, occupy 62% less wall space, and lower the cost of install compared to previous models. Together, these components simplify the entire backup installation process, enhance reliability, and provide greater value to homeowners. The IQ Meter Collar has now been approved by 29 U.S. utilities.

    We also ramped shipments of our IQ Battery with FlexPhase into more countries in Europe. This AC-coupled battery system supports both single-phase and three-phase homes, providing full backup capability and superior flexibility to meet diverse home energy needs.

    The IQ® EV Charger 2, our most advanced residential charger to date, is now shipping to 18 countries across Europe, Australia, and New Zealand. This smart charger is designed to work seamlessly with Enphase solar and battery systems or as a powerful standalone solution. We also started shipping our IQ® Balcony Solar Kit, a simple and efficient solution for harnessing solar energy from panels installed on apartment balconies, in Belgium and Germany during the second quarter of 2025.

    We continue to strengthen our digital platform and improve the customer experience. We are investing in several new enhancements for Solargraf, our all-in-one installer platform, including expanded third-party ownership (TPO) partner integrations, a custom tariff builder, enhanced dealership management features, and a simplified, AI-driven design experience – all aimed at making Solargraf even more powerful and intuitive.

    BUSINESS HIGHLIGHTS

    On July 17, 2025, Enphase Energy announced initial shipments of the IQ Battery 5P supplied from manufacturing facilities in the United States with higher domestic content than previous models.

    On July 10 and July 2, 2025, Enphase Energy announced that production shipments of its IQ EV Charger 2 have expanded Europe to now include Greece, Romania, Ireland, Poland, Australia, and New Zealand.

    On June 16, 2025, Enphase Energy announced the launch of the IQ Battery 5P with FlexPhase, for customers in more European countries, including Spain, Portugal, France, Sweden, Denmark, Belgium, and the Netherlands.

    On June 4, 2025, Enphase Energy announced that IQ8P-3P Commercial Microinverters made with domestic content were selected for significant commercial projects on a Florida school, an affordable housing complex in Rhode Island, and a community center in California.

    On May 19, 2025, Enphase Energy introduced IQ® Energy Management that integrates with Enphase solar and battery systems to enable smart management of variable electricity rates and select third-party electric vehicle (EV) chargers, heat pumps, and resistive electric water heaters in France.

    On May 12 and May 7, 2025, Enphase Energy announced the launch of the IQ Balcony Solar System in Belgium and Germany that empowers apartment dwellers and homeowners with limited roof space to generate their own clean energy from balconies, patios, and small outdoor areas.

    On May 8, 2025, Enphase Energy announced the availability of new software that allows homeowners with existing legacy IQ7™ Microinverter-based systems to seamlessly expand their solar capacity using IQ8™ Microinverters.

    On April 28, 2025, Enphase Energy announced production shipments of IQ8 Microinverters in Japan through a distribution agreement with ITOCHU Corporation, one of the largest trading companies in the country.

    THIRD QUARTER 2025 FINANCIAL OUTLOOK

    For the third quarter of 2025, Enphase Energy estimates both GAAP and non-GAAP financial results as follows:

    • Revenue to be within a range of $330.0 million to $370.0 million, which includes shipments of 190 to 210 MWh of IQ Batteries.
    • GAAP gross margin to be within a range of 41.0% to 44.0% with net IRA benefit, including approximately three to five percentage points of new tariff impact.
    • Non-GAAP gross margin to be within a range of 43.0% to 46.0% with net IRA benefit and 33.0% to 36.0% excluding net IRA benefit, including approximately three to five percentage points of new tariff impact. Non-GAAP gross margin excludes stock-based compensation expense and acquisition related amortization.
    • Net IRA benefit to be within a range of $34.0 million to $38.0 million based on estimated shipments of 1,200,000 units of U.S. manufactured microinverters.
    • GAAP operating expenses to be within a range of $130.0 million to $134.0 million.
    • Non-GAAP operating expenses to be within a range of $78.0 million to $82.0 million, excluding $52.0 million estimated for stock-based compensation expense, acquisition related amortization, restructuring and asset impairment charges.

    For 2025, Enphase expects a GAAP tax rate of 19-21% and a non-GAAP tax rate of 15-17%, including IRA benefits.

    Follow Enphase Online

    Use of non-GAAP Financial Measures

    Enphase Energy has presented certain non-GAAP financial measures in this press release. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (GAAP). Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables to this press release. Non-GAAP financial measures presented by Enphase Energy include non-GAAP gross profit, gross margin, operating expenses, income from operations, net income, net income per share (basic and diluted), net IRA benefit, and free cash flow.

    These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Enphase Energy’s results of operations as determined in accordance with GAAP. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Enphase Energy uses these non-GAAP financial measures to analyze its operating performance and future prospects, develop internal budgets and financial goals, and to facilitate period-to-period comparisons. Enphase Energy believes that these non-GAAP financial measures reflect an additional way of viewing aspects of its operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business.

    As presented in the “Reconciliation of Non-GAAP Financial Measures” tables below, each of the non-GAAP financial measures excludes one or more of the following items for purposes of calculating non-GAAP financial measures to facilitate an evaluation of Enphase Energy’s current operating performance and a comparison to its past operating performance:

    Stock-based compensation expense. Enphase Energy excludes stock-based compensation expense from its non-GAAP measures primarily because they are non-cash in nature. Moreover, the impact of this expense is significantly affected by Enphase Energy’s stock price at the time of an award over which management has limited to no control.

    Acquisition related amortization. This item represents amortization of acquired intangible assets, which is a non-cash expense. Acquisition related amortization of acquired intangible assets are not reflective of Enphase Energy’s ongoing financial performance.

    Restructuring and asset impairment charges. Enphase Energy excludes restructuring and asset impairment charges due to the nature of the expenses being unusual and arising outside the ordinary course of continuing operations. These costs primarily consist of fees paid for cash-based severance costs, accelerated stock-based compensation expense and asset write-downs of property and equipment and acquired intangible assets, and other contract termination costs resulting from restructuring initiatives.

    Non-cash interest expense. This item consists primarily of amortization of debt issuance costs and accretion of debt discount because these expenses do not represent a cash outflow for Enphase Energy except in the period the financing was secured and such amortization expense is not reflective of Enphase Energy’s ongoing financial performance.

    Non-GAAP income tax adjustment. This item represents the amount adjusted to Enphase Energy’s GAAP tax provision or benefit to exclude the income tax effects of GAAP adjustments such as stock-based compensation, amortization of purchased intangibles, and other non-recurring items that are not reflective of Enphase Energy ongoing financial performance.

    Non-GAAP net income per share, diluted. Enphase Energy excludes the dilutive effect of in-the-money portion of convertible senior notes as they are covered by convertible note hedge transactions that reduce potential dilution to our common stock upon conversion of the Notes due 2025, Notes due 2026, and Notes due 2028, and includes the dilutive effect of employee’s stock-based awards and the dilutive effect of warrants. Enphase Energy believes these adjustments provide useful supplemental information to the ongoing financial performance.

    Net IRA benefit. This item represents the advanced manufacturing production tax credit (AMPTC) from the IRA for manufacturing microinverters in the United States, partially offset by the incremental manufacturing cost incurred in the United States relative to manufacturing in India. The AMPTC is accounted for by Enphase Energy as an income-based government grants that reduces cost of revenues in the condensed consolidated statements of operations.

    Free cash flow. This item represents net cash flows from operating activities less purchases of property and equipment.

    Conference Call Information

    Enphase Energy will host a conference call for analysts and investors to discuss its second quarter 2025 results and third quarter 2025 business outlook today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). The call is open to the public by dialing (833) 634-5018. A live webcast of the conference call will also be accessible from the “Investor Relations” section of Enphase Energy’s website at https://investor.enphase.com.

    Following the webcast, an archived version will be available on the website for approximately one year. In addition, an audio replay of the conference call will be available by calling (877) 344-7529; replay access code 6021998, beginning approximately one hour after the call.

    Forward-Looking Statements

    This press release contains forward-looking statements, including statements related to Enphase Energy’s expectations as to its third quarter of 2025 financial outlook, including revenue, shipments of IQ Batteries by MWh, gross margin with net IRA benefit and excluding net IRA benefit, estimated shipments of U.S. manufactured microinverters, operating expenses, and annualized effective tax rate with IRA benefit; its expectations regarding the expected net IRA benefit; future enhancements for Solargraf; and the capabilities, advantages, features, and performance of its technology and products. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Enphase Energy’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those risks described in more detail in its most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other documents on file with the SEC from time to time and available on the SEC’s website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    A copy of this press release can be found on the investor relations page of Enphase Energy’s website at https://investor.enphase.com.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power – and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 83.1 million microinverters, and more than 4.9 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://enphase.com/.

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

    Contact:

    Zach Freedman
    Enphase Energy, Inc.
    Investor Relations
    ir@enphaseenergy.com

    ENPHASE ENERGY, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (In thousands, except per share data)
    (Unaudited)
      Three Months Ended Six Months Ended
      June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		   June 30,
    2025    		   June 30,
    2024
    Net revenues $ 363,153     $ 356,084     $ 303,458     $ 719,237     $ 566,797  
    Cost of revenues   192,660       187,843       166,292       380,503       314,123  
    Gross profit   170,493       168,241       137,166       338,734       252,674  
    Operating expenses:                  
    Research and development   45,421       50,174       48,871       95,595       103,082  
    Sales and marketing   50,708       48,948       51,775       99,656       105,082  
    General and administrative   34,035       34,035       33,550       68,070       68,732  
    Restructuring and asset impairment charges   3,322       3,162       1,171       6,484       3,078  
    Total operating expenses   133,486       136,319       135,367       269,805       279,974  
    Income (loss) from operations   37,007       31,922       1,799       68,929       (27,300 )
    Other income, net                  
    Interest income   14,911       17,032       19,203       31,943       38,912  
    Interest expense   (815 )     (2,047 )     (2,220 )     (2,862 )     (4,416 )
    Other expense, net   (8,898 )     (14 )     (7,566 )     (8,912 )     (7,479 )
    Total other income, net   5,198       14,971       9,417       20,169       27,017  
    Income (loss) before income taxes   42,205       46,893       11,216       89,098       (283 )
    Income tax provision   (5,153 )     (17,163 )     (383 )     (22,316 )     (4,981 )
    Net income (loss) $ 37,052     $ 29,730     $ 10,833     $ 66,782     $ (5,264 )
    Net income (loss) per share:                  
    Basic $ 0.28     $ 0.23     $ 0.08     $ 0.51     $ (0.04 )
    Diluted $ 0.28     $ 0.22     $ 0.08     $ 0.50     $ (0.04 )
    Shares used in per share calculation:                  
    Basic   131,031       131,869       135,646       131,447       135,768  
    Diluted   135,219       136,208       136,123       135,719       135,768  
     
    ENPHASE ENERGY, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)
    (Unaudited)
      June 30,
    2025    		   December 31,
    2024
    ASSETS      
    Current assets:      
    Cash and cash equivalents $ 370,536   $ 369,110
    Restricted cash   —     95,006
    Marketable securities   1,159,648     1,253,480
    Accounts receivable, net   223,218     223,749
    Inventory   173,016     165,004
    Prepaid expenses and other assets   362,523     220,735
    Total current assets   2,288,941     2,327,084
    Property and equipment, net   136,902     147,514
    Intangible assets, net   32,380     42,398
    Goodwill   214,890     211,571
    Other assets   193,426     205,542
    Deferred tax assets, net   312,250     315,567
    Total assets $ 3,178,789   $ 3,249,676
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
    Current liabilities:      
    Accounts payable $ 162,697   $ 90,032
    Accrued liabilities   206,537     196,887
    Deferred revenues, current   129,040     237,225
    Warranty obligations, current   33,136     34,656
    Debt, current   631,179     101,291
    Total current liabilities   1,162,589     660,091
    Long-term liabilities:      
    Deferred revenues, non-current   331,531     341,982
    Warranty obligations, non-current   172,950     158,233
    Other liabilities   59,542     55,265
    Debt, non-current   571,540     1,201,089
    Total liabilities   2,298,152     2,416,660
    Total stockholders’ equity   880,637     833,016
    Total liabilities and stockholders’ equity $ 3,178,789   $ 3,249,676
     
    ENPHASE ENERGY, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)
    (Unaudited)
      Three Months Ended   Six Months Ended
      June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		   June 30,
    2025    		   June 30,
    2024

    Cash flows from operating activities:    		                  
    Net income (loss) $ 37,052     $ 29,730     $ 10,833     $ 66,782     $ (5,264 )
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:                  
    Depreciation and amortization   20,085       19,915       20,484       40,000       40,621  
    Net accretion of premium (discount) on marketable securities   (1,234 )     3,512       (1,030 )     2,278       1,795  
    Provision for doubtful accounts   130       62       1,897       192       1,767  
    Asset impairment   1,538       27       6,241       1,565       6,573  
    Non-cash interest expense   828       1,679       2,157       2,507       4,289  
    Change in fair value of debt securities   9,464       (323 )     1,931       9,141       989  
    Stock-based compensation   53,896       55,633       52,757       109,529       113,590  
    Deferred income taxes   403       8,560       (14,076 )     8,963       (22,368 )
    Changes in operating assets and liabilities:                  
    Accounts receivable   8,681       1,760       82,183       10,441       159,542  
    Inventory   (28,991 )     20,979       31,825       (8,012 )     37,527  
    Prepaid expenses and other assets   (64,261 )     (75,553 )     (42,810 )     (139,814 )     (53,707 )
    Accounts payable, accrued and other liabilities   37,212       54,232       (23,944 )     91,444       (90,228 )
    Warranty obligations   2,639       10,558       15       13,197       (11,908 )
    Deferred revenues   (50,813 )     (82,357 )     (1,401 )     (133,170 )     (6,955 )
      Net cash provided by operating activities   26,629       48,414       127,062       75,043       176,263  
    Cash flows from investing activities:                  
    Purchases of property and equipment   (8,259 )     (14,608 )     (9,636 )     (22,867 )     (17,007 )
    Investment in tax equity fund   (1,440 )     (6,904 )     —       (8,344 )     —  
    Purchases of marketable securities   (284,306 )     (200,826 )     (300,053 )     (485,132 )     (772,321 )
    Maturities and sale of marketable securities   242,820       335,398       282,063       578,218       779,436  
      Net cash provided by (used in) investing activities   (51,185 )     113,060       (27,626 )     61,875       (9,892 )
    Cash flows from financing activities:                  
    Settlement of Notes due 2025   —       (102,168 )     —       (102,168 )     (2 )
    Repurchase of common stock   (29,993 )     (99,964 )     (99,908 )     (129,957 )     (141,904 )
    Proceeds from issuance of common stock under employee equity plans   5,302       67       6,769       5,369       7,955  
    Payment of withholding taxes related to net share settlement of equity awards   (2,864 )     (12,110 )     (7,473 )     (14,974 )     (67,515 )
      Net cash used in financing activities   (27,555 )     (214,175 )     (100,612 )     (241,730 )     (201,466 )
      Effect of exchange rate changes on cash, cash equivalents and restricted cash   7,557       3,675       (374 )     11,232       (1,551 )
    Net decrease in cash, cash equivalents and restricted cash   (44,554 )     (49,026 )     (1,550 )     (93,580 )     (36,646 )
    Cash, cash equivalents and restricted cash — Beginning of period   415,090       464,116       253,652       464,116       288,748  
    Cash, cash equivalents and restricted cash — End of period $ 370,536     $ 415,090     $ 252,102     $ 370,536     $ 252,102  
     
    ENPHASE ENERGY, INC.
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (In thousands, except per share data and percentages)
    (Unaudited)
      Three Months Ended   Six Months Ended
      June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		   June 30,
    2025    		   June 30,
    2024
    Gross profit (GAAP) $ 170,493     $ 168,241     $ 137,166     $ 338,734     $ 252,674  
      Stock-based compensation   4,311       4,239       3,730       8,550       7,912  
      Acquisition related amortization   1,590       1,580       1,890       3,170       3,781  
    Gross profit (Non-GAAP) $ 176,394     $ 174,060     $ 142,786     $ 350,454     $ 264,367  
                         
    Gross margin (GAAP)   46.9 %     47.2 %     45.2 %     47.1 %     44.6 %
      Stock-based compensation   1.3       1.2       1.3       1.2       1.3  
      Acquisition related amortization   0.4       0.5       0.6       0.4       0.7  
    Gross margin (Non-GAAP)   48.6 %     48.9 %     47.1 %     48.7 %     46.6 %
                         
    Operating expenses (GAAP) $ 133,486     $ 136,319     $ 135,367     $ 269,805     $ 279,974  
      Stock-based compensation(1)   (49,506 )     (50,885 )     (49,027 )     (100,391 )     (105,678 )
      Acquisition related amortization   (2,877 )     (2,849 )     (3,463 )     (5,726 )     (6,925 )
      Restructuring and asset impairment charges(1)   (3,322 )     (3,162 )     (1,171 )     (6,484 )     (3,078 )
    Operating expenses (Non-GAAP) $ 77,781     $ 79,423     $ 81,706     $ 157,204     $ 164,293  
                         
    (1)Includes stock-based compensation as follows:                  
      Research and development $ 20,481     $ 21,647     $ 20,210     $ 42,128     $ 44,760  
      Sales and marketing   16,657       16,396       16,784       33,053       34,962  
      General and administrative   12,368       12,842       12,033       25,210       25,956  
      Restructuring and asset impairment charges   79       509       —       588       —  
      Total $ 49,585     $ 51,394     $ 49,027     $ 100,979     $ 105,678  
                         
    Income (loss) from operations (GAAP) $ 37,007     $ 31,922     $ 1,799     $ 68,929     $ (27,300 )
      Stock-based compensation   53,817       55,124       52,757       108,941       113,590  
      Acquisition related amortization   4,467       4,429       5,353       8,896       10,706  
      Restructuring and asset impairment charges   3,322       3,162       1,171       6,484       3,078  
    Income from operations (Non-GAAP) $ 98,613     $ 94,637     $ 61,080     $ 193,250     $ 100,074  
                         
    Net income (loss) (GAAP) $ 37,052     $ 29,730     $ 10,833     $ 66,782     $ (5,264 )
      Stock-based compensation   53,817       55,124       52,757       108,941       113,590  
      Acquisition related amortization   4,467       4,429       5,353       8,896       10,706  
      Restructuring and asset impairment charges   3,322       3,162       1,171       6,484       3,078  
      Non-cash interest expense   829       1,678       2,157       2,507       4,289  
      Non-GAAP income tax adjustment   (9,618 )     (4,880 )     (13,447 )     (14,498 )     (19,619 )
    Net income (Non-GAAP) $ 89,869     $ 89,243     $ 58,824     $ 179,112     $ 106,780  
                         
    Net income (loss) per share, basic (GAAP) $ 0.28     $ 0.23     $ 0.08     $ 0.51     $ (0.04 )
      Stock-based compensation   0.41       0.42       0.39       0.80       0.84  
      Acquisition related amortization   0.03       0.04       0.04       0.08       0.08  
      Restructuring and asset impairment charges   0.03       0.02       0.01       0.06       0.02  
      Non-cash interest expense   0.01       0.01       0.02       0.02       0.03  
      Non-GAAP income tax adjustment   (0.07 )     (0.04 )     (0.11 )     (0.11 )     (0.14 )
    Net income per share, basic (Non-GAAP) $ 0.69     $ 0.68     $ 0.43     $ 1.36     $ 0.79  
                         
      Shares used in basic per share calculation GAAP and Non-GAAP   131,031       131,869       135,646       131,447       135,768  
                         
    Net income (loss) per share, diluted (GAAP) $ 0.28     $ 0.22     $ 0.08     $ 0.50     $ (0.04 )
      Stock-based compensation   0.41       0.42       0.38       0.83       0.84  
      Acquisition related amortization   0.03       0.04       0.04       0.07       0.08  
      Restructuring and asset impairment charges   0.03       0.03       0.01       0.05       0.02  
      Non-cash interest expense   0.01       0.01       0.02       0.02       0.03  
      Non-GAAP income tax adjustment   (0.07 )     (0.04 )     (0.10 )     (0.11 )     (0.15 )
    Net income per share, diluted (Non-GAAP) $ 0.69     $ 0.68     $ 0.43     $ 1.36     $ 0.78  
                         
      Shares used in diluted per share calculation GAAP   135,219       136,208       136,123       135,719       135,768  
      Shares used in diluted per share calculation Non-GAAP   131,144       132,133       136,123       131,644       136,439  
                         
    Income-based government grants (GAAP) $ 61,040     $ 53,631     $ 24,329     $ 114,671     $ 42,946  
      Incremental cost for manufacturing in U.S.   (19,528 )     (15,773 )     (5,950 )     (35,301 )     (10,832 )
    Net IRA benefit (Non-GAAP) $ 41,512     $ 37,858     $ 18,379     $ 79,370     $ 32,114  
                         
    Net cash provided by operating activities (GAAP) $ 26,629     $ 48,414     $ 127,062     $ 75,043     $ 176,263  
      Purchases of property and equipment   (8,259 )     (14,608 )     (9,636 )     (22,867 )     (17,007 )
    Free cash flow (Non-GAAP) $ 18,370     $ 33,806     $ 117,426     $ 52,176     $ 159,256  
     

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

    The MIL Network –

  • MIL-OSI: Vicor Corporation Reports Results for the Second Quarter Ended June 30, 2025

    Source: GlobeNewswire (MIL-OSI)

    ANDOVER, Mass., July 22, 2025 (GLOBE NEWSWIRE) — Vicor Corporation (NASDAQ: VICR) today reported financial results for the second quarter ended June 30, 2025. These results will be discussed later today at 5:00 p.m. Eastern Time, during management’s quarterly investor conference call. The details for the call are below.

    Product revenues, licensing income and a patent litigation settlement for the second quarter ended June 30, 2025 totaled $141.0 million, a 64.3% increase from $85.9 million for the corresponding period a year ago, and a 50.1% sequential increase from $94.0 million in the first quarter of 2025.

    Gross margin increased to $92.1 million for the second quarter of 2025, compared to $42.8 million for the corresponding period a year ago, and increased sequentially from $44.4 million for the first quarter of 2025. Gross margin, as a percentage of revenue, increased to 65.3% for the second quarter of 2025, compared to 49.8% for the corresponding period a year ago, and increased from 47.2% for the first quarter of 2025. Operating expenses increased to $46.7 million for the second quarter of 2025, compared to $42.6 million for the corresponding period a year ago, and increased sequentially from $44.5 million for the first quarter of 2025.

    Net income for the second quarter was $41.2 million, or $0.91 per diluted share, compared to a net loss of ($1.2) million or ($0.03) per diluted share, for the corresponding period a year ago and net income of $2.5 million, or $0.06 per diluted share, for the first quarter of 2025.

    Cash flow from operations totaled $65.2 million for the second quarter, compared to cash flow from operations of $15.6 million for the corresponding period a year ago, and cash flow from operations of $20.1 million in the first quarter of 2025. Capital expenditures for the second quarter totaled $6.2 million, compared to $6.1 million for the corresponding period a year ago and $4.6 million for the first quarter of 2025. Cash and cash equivalents as of June 30, 2025 increased 14.3% sequentially to approximately $338.5 million compared to approximately $296.1 million as of March 31, 2025.

    Backlog for the second quarter ended June 30, 2025 totaled $155.2 million, a 0.9% increase from $153.8 million for the corresponding period a year ago, and 9.6% sequential decrease from $171.7 million at the end of the first quarter of 2025.

    Commenting on second quarter performance, Chief Executive Officer Dr. Patrizio Vinciarelli stated: “Having brought to fruition our first ITC action with cease-and-desist and exclusion orders, we are pursuing additional actions to curtail importation into the US of infringing power and computing systems sourced from contract manufacturers by unlicensed OEMs and Hyper-scalers.”

    “As importantly, we are bringing to fruition high performance ChiPs and 2nd gen VPD for AI applications, which should increase product revenues and utilization of our first ChiP fab. Total revenues and margins will thus reflect many patented innovations in the state of the art of high density power systems.”

    For more information on Vicor and its products, please visit the Company’s website at www.vicorpower.com.

    Earnings Conference Call

    Vicor will be holding its investor conference call today, Tuesday, July 22, 2025 at 5:00 p.m. Eastern Time. Vicor encourages investors and analysts who intend to ask questions via the conference call to register with Notified, the service provider hosting the conference call. Those registering on Notified’s website will receive dial-in info and a unique PIN to join the call as well as an email confirmation with the details. Registration may be completed at any time prior to 5:00 p.m. on July 22, 2025. For those parties interested in listen-only mode, the conference call will be webcast via a link that will be posted on the Investor Relations page of Vicor’s website prior to the conference call. Please access the website at least 15 minutes prior to the conference call to register and, if necessary, download and install any required software. For those who cannot participate in the live conference call, a webcast replay of the conference call will also be available on the Investor Relations page of Vicor’s website.

    This press release contains certain 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. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and, the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “assumes,” “may,” “will,” “would,” “should,” “continue,” “prospective,” “project,” and other similar expressions identify forward-looking statements. Forward-looking statements also include statements regarding bookings, shipments, revenue, profitability, targeted markets, increase in manufacturing capacity and utilization thereof, future products and capital resources. These statements are based upon management’s current expectations and estimates as to the prospective events and circumstances that may or may not be within the company’s control and as to which there can be no assurance. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors, including those economic, business, operational and financial considerations set forth in Vicor’s Annual Report on Form 10-K for the year ended December 31, 2024, under Part I, Item I — “Business,” under Part I, Item 1A — “Risk Factors,” under Part I, Item 3 — “Legal Proceedings,” and under Part II, Item 7 — “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” The risk factors set forth in the Annual Report on Form 10-K may not be exhaustive. Therefore, the information contained in the Annual Report on Form 10-K should be read together with other reports and documents filed with the Securities and Exchange Commission from time to time, including Forms 10-Q, 8-K and 10-K, which may supplement, modify, supersede or update those risk factors. Vicor does not undertake any obligation to update any forward-looking statements as a result of future events or developments.

    Vicor Corporation designs, develops, manufactures, and markets modular power components and complete power systems based upon a portfolio of patented technologies. Headquartered in Andover, Massachusetts, Vicor sells its products to the power systems market, including enterprise and high performance computing, industrial equipment and automation, telecommunications and network infrastructure, vehicles and transportation, and aerospace and defense electronics.
      
    For further information contact:
            
    James F. Schmidt, Chief Financial Officer
    Office: (978) 470-2900
    Email: invrel@vicorpower.com

    VICOR CORPORATION              
                   
    CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS        
    (Thousands except for per share amounts)              
                   
      QUARTER ENDED   YEAR ENDED
      (Unaudited)   (Unaudited)
                   
      JUN 30,   JUN 30,   JUN 30,   JUN 30,
      2025   2024   2025   2024
                   
                   
    Product revenue $ 85,693   $ 76,583     $ 168,899   $ 152,275  
    Royalty revenue   10,353     9,271       21,115     17,451  
    Patent litigation settlement   45,000                         –       45,000                         –  
    Total product revenue, royalty revenue and patent litigation settlement   141,046     85,854       235,014     169,726  
    Cost of product revenues   48,918     43,083       98,521     81,832  
             Gross margin   92,128     42,771       136,493     87,894  
                   
    Operating expenses:              
              Selling, general and administrative   27,952     23,318       53,089     49,317  
              Research and development   18,791     16,939       38,168     34,978  
              Litigation-contingency expense                       –     2,300                           –     19,500  
                 Total operating expenses   46,743     42,557       91,257     103,795  
                   
    Income (loss) from operations   45,385     214       45,236     (15,901 )
                   
    Other income (expense), net   3,657     2,807       6,791     5,531  
                   
    Income (loss) before income taxes   49,042     3,021       52,027     (10,370 )
                   
    Less: Provision for income taxes   7,842     4,216       8,266     5,287  
                   
    Consolidated net income (loss)   41,200     (1,195 )     43,761     (15,657 )
                   
    Less: Net income attributable to              
      noncontrolling interest   8     1       30     12  
                   
    Net income (loss) attributable to              
      Vicor Corporation $ 41,192   ($ 1,196 )   $ 43,731   ($ 15,669 )
                   
                   
    Net income (loss) per share attributable              
      to Vicor Corporation:              
               Basic $ 0.92   $ (0.03 )   $ 0.97   $ (0.35 )
               Diluted $ 0.91   $ (0.03 )   $ 0.97   $ (0.35 )
                   
    Shares outstanding:              
               Basic   45,007     44,855       45,112     44,686  
               Diluted   45,077     44,855       45,286     44,686  
                   
    VICOR CORPORATION      
           
    CONDENSED CONSOLIDATED BALANCE SHEET    
    (Thousands)      
           
           
      JUN 30,   DEC 31,
        2025       2024  
      (Unaudited)   (Unaudited)
    Assets      
           
    Current assets:      
            Cash and cash equivalents $ 338,541     $ 277,273  
            Accounts receivable, net   55,085       52,948  
            Inventories   95,493       106,032  
            Other current assets   25,662       26,781  
                      Total current assets   514,781       463,034  
           
    Long-term deferred tax assets   281       261  
    Long-term investment, net   2,584       2,641  
    Property, plant and equipment, net   154,285       152,705  
    Other assets   21,578       22,477  
           
                      Total assets $ 693,509     $ 641,118  
           
    Liabilities and Equity      
           
    Current liabilities:      
            Accounts payable $ 16,805     $ 8,737  
            Accrued compensation and benefits   13,351       10,852  
            Accrued expenses   3,351       6,589  
            Accrued litigation   27,563       26,888  
            Sales allowances   2,639       1,667  
            Short-term lease liabilities   1,699       1,716  
            Income taxes payable   2,926       59  
            Short-term deferred revenue and customer prepayments   5,506       5,312  
           
                     Total current liabilities   73,840       61,820  
           
    Long-term income taxes payable   4,809       3,387  
    Long-term lease liabilities   5,994       5,620  
                     Total liabilities   84,643       70,827  
           
    Equity:      
      Vicor Corporation stockholders’ equity:      
            Capital stock   420,385       408,187  
            Retained earnings   346,534       302,803  
            Accumulated other comprehensive loss   (1,291 )     (1,495 )
            Treasury stock   (157,033 )     (139,424 )
                 Total Vicor Corporation stockholders’ equity   608,595       570,071  
      Noncontrolling interest   271       220  
            Total equity   608,866       570,291  
           
                      Total liabilities and equity $ 693,509     $ 641,118  
           

    The MIL Network –

  • MIL-OSI USA News: Joint Statement on Framework for United States-Indonesia Agreement on Reciprocal Trade

    Source: US Whitehouse

    Today, the United States of America (the United States) and the Republic of Indonesia (Indonesia) agreed to a Framework for negotiating an Agreement on Reciprocal Trade to strengthen our bilateral economic relationship, which will provide both countries’ exporters unprecedented access to each other’s markets.  The Agreement on Reciprocal Trade will build upon our longstanding economic relationship, including the U.S.-Indonesia Trade and Investment Framework Agreement, signed on July 16, 1996.

    Key terms of the Agreement on Reciprocal Trade between the United States and Indonesia will include:

    • Indonesia will eliminate approximately 99 percent of tariff barriers for a full range of U.S. industrial and U.S. food and agricultural products exported to Indonesia.
    • The United States will reduce to 19 percent the reciprocal tariffs, as set forth in Executive Order 14257 of April 2, 2025, on originating goods of Indonesia, and may also identify certain commodities that are not naturally available or domestically produced in the United States for a further reduction in the reciprocal tariff rate.
    • The United States and Indonesia will negotiate facilitative rules of origin that ensure that the benefits of the agreement accrue primarily to the United States and Indonesia.
    • The United States and Indonesia will work together to address Indonesia’s non-tariff barriers that affect bilateral trade and investment in priority areas, including exempting U.S. companies and originating goods from local content requirements; accepting vehicles built to U.S. federal motor vehicle safety and emissions standards; accepting FDA certificates and prior marketing authorizations for medical devices and pharmaceuticals; removing certain labeling requirements; exempting U.S. exports of cosmetics, medical devices, and other manufactured goods from certain requirements; taking steps to resolve many long-standing intellectual property issues identified in USTR’s Special 301 Report; and addressing U.S. concerns with conformity assessment procedures.  Indonesia will work to address barriers for U.S. exports, including through the removal of import restrictions or licensing requirements on U.S. remanufactured goods or their parts; the elimination of pre-shipment inspection or verification requirements on imports of U.S. goods; and the adoption and implementation of good regulatory practices.
    • The United States and Indonesia have also committed to address and prevent barriers to U.S. food and agricultural products in the Indonesian market, including exempting U.S. food and agricultural products from all import licensing regimes, including commodity balance requirements; ensuring transparency and fairness with respect to geographical indications; providing permanent Fresh Food of Plant Origin (FFPO) designation for all applicable U.S. plant products; and recognizing U.S. regulatory oversight, including listing of all U.S. meat, poultry, and dairy facilities and accepting certificates issued by U.S. regulatory authorities. 
    • Indonesia has committed to address barriers impacting digital trade, services, and investment.  Indonesia will provide certainty regarding the ability to transfer personal data out of its territory to the United States.  Indonesia has committed to eliminate existing HTS tariff lines on “intangible products” and suspend related requirements on import declarations; to support a permanent moratorium on customs duties on electronic transmissions at the WTO immediately and without conditions; and to take effective actions to implement the Joint Initiative on Services Domestic Regulation, including submitting its revised Specific Commitments for certification by the World Trade Organization (WTO).
    • Indonesia commits to join the Global Forum on Steel Excess Capacity and take effective actions to address global excess capacity in the steel sector and its impacts.
    • Indonesia commits to protecting internationally recognized labor rights.  Indonesia will, among other commitments, adopt and implement a prohibition on the importation of goods produced by forced or compulsory labor; amend its labor laws to ensure that workers’ rights to freedom of association and collective bargaining are fully protected; and strengthen enforcement of its labor laws.
    • Indonesia commits to adopt and maintain high levels of environmental protection and to effectively enforce its environmental laws, including by taking measures to improve forest sector governance and combat trade in illegally harvested forest products; encourage a more resource efficient economy; accept and fully implement the WTO Agreement on Fisheries Subsidies; and combat illegal, unreported, and unregulated fishing and illegal wildlife trade.
    • Indonesia will remove restrictions on exports to the United States of industrial commodities, including critical minerals.
    • The United States and Indonesia are committed to strengthening economic and national security cooperation to enhance supply chain resilience and innovation through complementary actions to address unfair trade practices of other countries, and through cooperation on export controls, investment security, and combatting duty evasion.
    • In addition, the United States and Indonesia take note of the following forthcoming commercial deals between U.S. and Indonesian companies:
      • Procurement of aircraft currently valued at 3.2 billion USD.
      • Purchase of agriculture products, including soybeans, soybeans meal, wheat, and cotton with an estimated total value of 4.5 billion USD.
      • Purchases of energy products, including liquefied petroleum gas, crude oil, and gasoline, with an estimated value of 15 billion USD.

    In the coming weeks, the United States and Indonesia will negotiate and finalize the Agreement on Reciprocal Trade, prepare the Agreement for signature, and undertake domestic formalities in advance of the Agreement entering into force.  

    MIL OSI USA News –

  • MIL-OSI USA News: Fact Sheet: The United States and Indonesia Reach Historic Trade Deal

    Source: US Whitehouse

    DELIVERING ON RECIPROCAL TRADE: President Donald J. Trump announced a landmark trade deal with Indonesia that will provide Americans with market access in Indonesia once considered impossible and unlock major breakthroughs for America’s manufacturing, agriculture, and digital sectors.

    • Under this deal, Indonesia will pay the United States a reciprocal tariff rate of 19%.
    • The key terms of the U.S.-Indonesia Agreement on Reciprocal Trade will include:
      • Eliminating Tariff Barriers: Indonesia will eliminate tariff barriers, on a preferential basis, on over 99% of U.S. products exported to Indonesia across all sectors, including for all agricultural products, health products, seafood, information and communications technology, automotive products, and chemicals, which will create commercially meaningful market access opportunities for the full range of U.S. exports, supporting high-quality American jobs.
      • Breaking Down Non-Tariff Barriers for U.S. Industrial Exports: Indonesia will address a range of non-tariff barriers, including by: (1) exempting U.S. companies and originating goods from local content requirements; (2) accepting vehicles built to U.S. federal motor vehicle safety and emissions standards; (3) accepting FDA certificates and prior marketing authorizations for medical devices and pharmaceuticals; (4) exempting U.S. exports of cosmetics, medical devices, and other manufactured goods from burdensome certification and labeling requirements; (5) removing import restrictions or licensing requirements on U.S. remanufactured goods and their parts; (6) eliminating pre-shipment inspection or verification requirements on imports of U.S. goods; (7) adopting and implementing good regulatory practices; (8) taking steps to resolve many long-standing intellectual property issues identified in USTR’s Special 301 Report; and (9) addressing U.S. concerns with conformity assessment procedures.
      • Breaking Down Non-Tariff Barriers for U.S. Agriculture Exports: Indonesia will address and prevent barriers to U.S. agricultural products in the Indonesian market, including by: (1) exempting U.S. food and agricultural products from all of Indonesia’s import licensing regimes including its commodity balance policy; (2) ensuring transparency and fairness with respect to geographical indications (GIs) including meats and cheeses; (3) providing permanent Fresh Food of Plant Origin (FFPO) designation for all applicable U.S. plant products; and (4) recognizing U.S. regulatory oversight, including listing of all U.S. meat, poultry, and dairy facilities and accepting certificates issued by U.S. regulatory authorities.
      • Strengthening Rules of Origin: The United States and Indonesia will negotiate facilitative rules of origin that ensure that the benefits from the agreement accrue to the United States and Indonesia, not third-countries.
      • Removing Barriers for Digital Trade: The United States and Indonesia will finalize commitments on digital trade, services, and investment. Indonesia has committed to eliminate existing HTS tariff lines on “intangible products” and suspend related requirements on import declarations; support a permanent moratorium on customs duties on electronic transmissions at the World Trade Organization (WTO) immediately and without conditions; and take effective actions to implement the Joint Initiative on Services Domestic Regulation, including submitting its revised Specific Commitments for certification by the WTO. Indonesia will provide certainty regarding the ability to move personal data out of its territory to the United States through recognition of the United States as a country or jurisdiction that provides adequate data protection under Indonesia’s law. American companies have sought these reforms for years.
      • Aligning on Economic Security: Indonesia has committed to join the Global Forum on Steel Excess Capacity and take effective actions to address global excess capacity in the steel sector and its impacts. The United States and Indonesia are committed to strengthening cooperation to increase supply chain resilience. This includes addressing duty evasion and cooperating on export controls and investment security. Indonesia will remove restrictions on exports to the United States for all industrial commodities, including critical minerals.
      • Improving Labor Standards: Indonesia has committed to adopt and implement a forced labor import ban and remove provisions that restrict workers and unions from exercising freedom of association and collective bargaining rights.
      • Notching Commercial Deals: The United States and Indonesia take note of commercial deals in the areas of agriculture, aerospace, and energy, which will further increase U.S. exports to Indonesia.
    • President Trump has delivered a forward-looking and tough trade deal that will benefit American workers, exporters, farmers, and digital innovators—this deal is what winning looks and will feel like for all Americans.

    A DEFINED PATH FORWARD: In the coming weeks, the United States and Indonesia will memorialize the Agreement on Reciprocal Trade in order to lock in benefits for American businesses and workers.

    • The United States currently runs its fifteenth largest goods trade deficit with Indonesia.
      • The U.S. total goods trade deficit with Indonesia was $17.9 billion in 2024.
      • Before this deal, Indonesia’s simple average applied tariff was 8% while the U.S. average applied tariff was 3.3%. 

    LIBERATING AMERICA FROM UNFAIR TRADE PRACTICES: Since Day One, President Trump challenged the assumption that American workers and businesses must tolerate unfair trade practices that have disadvantaged them for decades and contributed to our historic trade deficit.

    • On April 2, President Trump declared a national emergency in response to the large and persistent U.S. goods trade deficit caused by a lack of reciprocity in our bilateral trade relationships, unfair tariff and non-tariff barriers, and U.S. trading partners’ economic policies that suppress domestic wages and consumption.
    • President Trump continues to advance the economic and national security interests of the American people by removing tariff and non-tariff barriers and expanding market access for American exporters.
    • Today’s announcement shows that America can defend its domestic production and strengthen its defense industrial base while obtaining expansive market access with our trading partners.

    MIL OSI USA News –

  • MIL-OSI Canada: SIRT Investigating Officer Involved Shooting in Regina

    Source: Government of Canada regional news

    Released on July 22, 2025

    On Friday July 18, 2025, at approximately 10:30 a.m., the Saskatchewan Serious Incident Response Team (SIRT) received a notification from the Regina Police Service (RPS) regarding an officer-involved shooting that had just taken place in Regina. 

    SIRT’s Civilian Executive Director accepted the notification as within SIRT’s mandate and directed an investigation by SIRT.

    On the morning of July 18, plainclothes members of RPS were engaged in a homicide investigation. At approximately 10:08 a.m., members observed a 29-year-old male on a bicycle who was wanted in connection with the investigation. The members requested other RPS units attend the area to assist with re-locating the male after contact had been lost. At approximately 10:12 a.m., the male was located by plainclothes members of RPS in the alley between Garnet Street and Athol Street north of 8th Avenue. Two plainclothes members of RPS exited separate unmarked police vehicles and a confrontation took place between the male and police. During that confrontation, members issued verbal commands to the male. One plainclothes member of RPS discharged a single round from a service pistol, striking the male. 

    RPS immediately called EMS to attend the scene as additional police resources arrived and assessed the male’s injuries. EMS arrived at the scene at approximately 10:17 a.m., and assumed responsibility for the male’s care, pronouncing him deceased at approximately 10:19 a.m. 

    Following the notification, a SIRT team consisting of the Civilian Executive Director and four SIRT investigators deployed to Regina to begin their investigation. A replica firearm was recovered from the scene and has been seized as an exhibit in SIRT’s investigation. 

    SIRT’s investigation will examine the conduct of police during this incident, including the circumstances surrounding the male’s death. RPS will maintain responsibility for the investigation that brought police into contact with the individual. As part of the ongoing investigation, SIRT is asking anyone who directly witnessed or may have video of the incident to contact SIRT at sirt@gov.sk.ca.

    No further information will be released at this time. A final report will be issued to the public within 90 days of the investigation ending.

    SIRT’s mandate is to investigate alleged cases of serious injury, death, sexual assault or interpersonal violence arising from the actions or omissions of on and off-duty police officers, or while an individual is in police custody.

    For updates on SIRT investigations, follow SIRT on X, formerly known as Twitter, at: SIRT_SK.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Security: California Man Sentenced to 14 Years in Prison for Trafficking Fentanyl and Methamphetamine

    Source: US FBI

    Defendant is known member of the Norteno gang, a Mexican American gang in Northern California, as well as the Bloods gang and the RideZilla prison gang

    BOSTON – A California man was sentenced today in federal court in Boston for trafficking and conspiring to traffic large quantities of methamphetamine and fentanyl.

    Marcos Haro, 40, of Sacramento, Calif., was sentenced by U.S. Senior District Court Judge William G. Young to 14 years in prison, to be followed by five years of supervised release. In March 2025, Marcos Haro pleaded guilty to one count of conspiracy to distribute and to possess with intent to distribute 50 grams or more of methamphetamine and 40 grams or more of fentanyl; two counts of distribution of and possession with intent to distribute 50 grams or more of methamphetamine; aiding and abetting; and one count of distribution of and possession with intent to distribute 40 grams or more of fentanyl; aiding and abetting.  In April 2023, Marcos Haro was indicted along with his brother Noel Haro.

    Noel Haro is a member and influential leader of the “Border Brothers” gang – a large-scale international gang known to be involved in drug, weapon and human trafficking in Southern Arizona with a presence in Nogales, Mexico and the Arizona prison system. Noel Haro is currently serving a life sentence following convictions in Arizona for drug distribution, conspiracy and money laundering. Noel Haro was previously serving his sentence at a facility in Arizona but was transferred to serve his sentence in Massachusetts upon being deemed a security concern due to his alleged influence over other inmates and repeated introduction of cell phones and narcotics into Arizona facilities.

    Beginning in or about April 2019, and investigation began into Noel Haro’s attempts to facilitate the trafficking of narcotics to Massachusetts. Investigators monitoring Noel Haro’s inmate calls learned that he was soliciting friends and family members to transport narcotics from Arizona to Massachusetts on his behalf. In April 2022, recorded inmate calls indicated that Noel Haro worked with his brother, Marcos Haro, to arrange drug deals outside of prison.

    In June 2022, Marcos Haro agreed to supply a cooperating witness with samples of multiple narcotics, including fentanyl and methamphetamine. Marcos Haro later mailed the narcotics concealed in a purple teddy bear inside a postal package. On July 13, 2022, the package was retrieved and found to contain powdered fentanyl, five counterfeit fentanyl pills, methamphetamine and approximately 3 grams of heroin. On July 25, 2022, during a recorded inmate call, Noel Haro and Marcos Haro discussed selling one pound of methamphetamine to the same individual. On July 27, 2022, investigators retrieved the package sent from Marcos Haro which contained approximately 446.6 grams of 99% pure methamphetamine. On Aug. 10, 2022, Noel Haro directed Marcos Haro to arrange the sale of five pounds of methamphetamine to the same individual. Later, on Sept. 12, 2022, investigators retrieved two packages sent from Marcos Haro, which contained approximately 892.3 grams of 86% pure methamphetamine and approximately 1,320.2 grams of 95% pure methamphetamine.

    In October 2022, Marcos and Noel Haro made arrangements to sell an individual 2,000 fentanyl pills. On Nov. 17, 2022, Marcos sent the individual a photograph of a United States Postal Service shipping box, label and receipt. On Nov. 20, 2022, investigators retrieved the package sent by Marcos Haro, which contained approximately 2,000 blue pills, which tested positive for approximately 215.3 grams of fentanyl.

    On April 2, 2023, Marcos Haro was arrested in Sacramento, Calif. following a motor vehicle stop. A 9mm handgun with eight live rounds in the magazine and approximately 2.9 grams of suspected fentanyl that field tested positive for the presence of opiates, were found during a subsequent search of the vehicle. Marcos Haro has a lengthy criminal history that includes 10 prior convictions, including a 2016 conviction for possession of a controlled substance while armed and illegal possession of an assault weapon with a large capacity magazine, for which he was sentenced to seven years in prison. Marcos Haro is a known member of the Norteno gang which is a Mexican American gang located in Northern California, as well as the Bloods gang and the RideZilla prison gang.

    On July 10, 2025, Noel Haro was sentenced to 188 months in prison.

    This case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.
        
    United States Attorney Leah B. Foley; Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; and Department of Correction’s Commissioner Shawn Jenkins made the announcement today. Valuable assistance was provided by the California Department of Corrections and Rehabilitation, the Sacramento County Sheriff’s Department and the Federal Bureau of Investigation, Sacramento Division. Assistant U.S. Attorneys Alathea E. Porter and Charles Dell’Anno of the Narcotics & Money Laundering Unit prosecuted the case. 

    MIL Security OSI –

  • MIL-OSI Security: Tokio, North Dakota, Woman Sentenced to Federal Prison for Involuntary Manslaughter and Child Neglect

    Source: US FBI

    Fargo – Acting United States Attorney Jennifer Klemetsrud Puhl announced today that Tierra Lynn Scott, age 31 from Tokio, ND, was sentenced before Chief Judge Peter D. Welte, United States District Court for the District of North Dakota, to 168 months in federal prison – the statutory maximum of 96 months for Involuntary Manslaughter and 24 months consecutive on each of the three Child Neglect counts in Indian country.  Judge Welte also sentenced Scott to serve three years of supervised release following her incarceration and to pay restitution for funeral-related expenses. 

    On August 17, 2024, law enforcement responded to a residence in Fort Totten, North Dakota, where an adult male was later pronounced dead.  The investigation revealed the man had been struck and run over by a motor vehicle driven by Scott. Scott had no driver’s license and was under the influence of intoxicating liquor and in possession of a controlled substance and drug paraphernalia and Scott was backing and otherwise driving recklessly, and without due care for the rights and safety of others. The investigation further revealed Scott had three minor children in the vehicle with her at the time.

    “In August 2024, a man lost his life due to the negligence of Tierra Scott,” said FBI Minneapolis Special Agent in Charge Alvin M. Winston Sr. “She also placed three minor children at risk, driving with them while under the influence of alcohol and in possession of drugs and drug paraphernalia. The FBI will work together with our law enforcement partners to ensure our community is safe for all, especially for children.”

    “This was an entirely preventable death which was tragically witnessed by others, including children who were in and outside the defendant’s vehicle, all who have no doubt been traumatized,” said Acting US Attorney Jennifer Puhl. “Sadly, in recent years law enforcement has responded to increased incidents of alcohol-impaired driving deaths on the Spirit Lake Reservation. I hope this sentence serves as a reminder of the severe legal consequences for individuals who choose to drive under the influence and will deter that behavior.”

    This case was investigated by the Federal Bureau of Investigation with assistance from the Bureau of Indian Affairs and was prosecuted by Assistant United States Attorney Lori H. Conroy.

    # # #

    MIL Security OSI –

  • MIL-OSI Security: St. Louis County Man Sentenced for Hosting Dogfights

    Source: US FBI

    ST. LOUIS – U.S. District Judge Sarah E. Pitlyk on Friday sentenced a man who hosted dogfights and trained dogs to fight to 18 months in prison followed by 3 years of supervised release.

    Terrell Williams, 52, has also agreed to give up the dogs and training equipment seized by law enforcement during the investigation.

    Williams hosted dog fights in the basement of his home in Riverview, Missouri, on two occasions in July and August of 2021. Williams also bred and owned multiple bull terriers or terrier mixes between Sept. 5, 2020, and May 1, 2022, that were used for fights. On June 22, 2022, FBI agents conducted a court-approved search of Williams’ home and seized eight bull terrier mixes and three Yorkshire terriers, as well as equipment used to train and condition dogs. Multiple dogs appeared to be aggressive towards humans and other dogs, anxious or fearful. Dogs also bore scars consistent with dog bites or dog fighting, Williams’ plea agreement says. 

    Williams pleaded guilty in March to a felony charge of dogfighting, which is punishable by up to five years in prison.

    The FBI investigated the case. Assistant U.S. Attorney Jillian Anderson prosecuted the case.

    MIL Security OSI –

  • MIL-OSI USA: SBA Offers Disaster Relief to Indiana Small Businesses, Private Nonprofits and Residents Affected by Flooding

    Source: United States Small Business Administration

    ATLANTA–The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans for Indiana small businesses, private nonprofits, and residents affected by the flooding occurring June 28-July 2, 2025. The SBA issued a disaster declaration in response to a request received from Gov. Mike Braun on July 11, 2025.

    The disaster declaration covers the counties of Daviess, Dubois, Greene, Knox, Martin and Pike which are eligible for both Physical Damage Loans and Economic Injury Disaster Loans (EIDLs) from the SBA.  

    Small businesses and private nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.  

    Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.  

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

    SBA’s EIDL program is available to small businesses, small agricultural cooperatives and private nonprofit (PNP) organizations with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    Interest rates are as low as 4% for small businesses, 3.625% for PNPs, and 2.813% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

    Beginning, Wednesday, July 23, SBA customer service representatives will be on hand at the Disaster Loan Outreach Center in the county of Daviess to answer questions about SBA’s disaster loan program, explain the application process and help individuals complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov.

    The DLOC hours of operation are listed below:

    Disaster Loan Outreach Center (DLOC)

    Daviess County

    Odon Community Center

    311 Park Street

    Odon, Indiana 47562

    Opening: Wednesday, July 23, 10 a.m. to 5 p.m.

    Hours:  Monday – Friday, 8 a.m. to 5 p.m.

    Saturday, 10 a.m. to 2 p.m.

    Closed: Sunday

    Permanently Closing: July 31 at 4 p.m.

    Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The filing deadline to return applications for physical property damage is Sept. 16, 2025. The deadline to return economic injury applications is April 20, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: Preventing Bridge Strikes with Enforcement Campaign

    Source: US State of New York

    overnor Kathy Hochul today announced a coordinated public awareness and enforcement campaign to prevent bridge strikes by commercial vehicles and large trucks across New York State. This special enforcement and education campaign, “Check Your Height, Know It’s Right,” which originated at the New York State Department of Transportation, is now being adopted by 16 states and Washington, D.C. from Tuesday, July 22 to Saturday, July 26. In 2024 there were 350 bridge strikes in New York State, usually involving commercial and large truck operators failing to recognize their vehicle’s height or warning signs and resulting in collisions with bridges and overpasses. Operators using consumer-grade GPS can also be guided onto routes with low bridges, and those driving rented box trucks — such as moving trucks — can strike bridges if their drivers are not aware of the vehicle’s height.

    “Bridge strikes are 100 percent preventable, but it takes a concerted effort combining the forces of education, enforcement and public awareness to prevent them from occurring, and that’s just what our nationally-adopted ‘Check Your Height, Know it’s Right’ campaign aims to do,” Governor Hochul said. “Traffic safety is an essential element of public safety, and preventing bridge strikes fundamentally increases the safety of the traveling public. Drivers also play an important role in this so I encourage everyone to ‘Check Your Height, Know it’s Right’ before hitting the road, and if you are driving a truck, make sure that you’re utilizing commercial GPS.”

    As part of this week’s campaign, State Troopers will focus active patrols in areas across the state where there have been documented bridge strikes by large commercial vehicles. These bridge strikes are most likely to occur on roadways with low railroad bridges, and on New York State Parkways in the Lower Hudson Valley, New York City and Long Island. Commercial trucks are banned from driving on the parkways, which sometimes have bridge overpasses with a vertical clearance less than many standard commercial vehicles. Bridge strikes cause extensive damage to the vehicle and sometimes to the bridge, and can lead to secondary collisions due to unexpected traffic congestion and subsequent emergency repairs.

    In November 2023, the State Department of Transportation launched a social media and video campaign titled “Check Your Height, Know it’s Right” in an effort to educate the traveling public about the importance of preventing bridge strikes. Since then, the Department has worked with the Eastern Transportation Coalition to get other states to adopt the campaign. To date, the following states have adopted the campaign that originated in New York and will be utilizing it to get the word out to the traveling public:

    • Alabama
    • Connecticut
    • Washington, D.C.
    • Delaware
    • Georgia
    • Kentucky
    • Maine
    • Maryland
    • Massachusetts
    • New Jersey
    • North Carolina
    • Pennsylvania
    • Rhode Island
    • Tennessee
    • Vermont
    • Virginia
    • West Virginia

    New York State Department of Transportation Commissioner Marie Therese Dominguez said, “Working with our transportation and law enforcement partners, the Department of Transportation is doing everything it possibly can to prevent bridge strikes across the state, but at the end of the day, commercial vehicle operators also have an important role to play. Before getting on the road, we want everyone to ‘Check Your Height, Know it’s Right.’ I couldn’t be prouder that a campaign that originated here in New York is being adopted all across the eastern seaboard as many other states are dealing with the same issues related to bridge strikes. Working together, we will continue to raise awareness of this important public safety issue and prevent further bridge strikes from occurring.”

    New York State Police Superintendent Steven G. James said, “Preventing bridge strikes isn’t just about protecting infrastructure, it’s about protecting lives. When a large vehicle hits a bridge, the consequences can be severe, resulting in damaged roadways, traffic delays, and serious injuries. That’s why our Troopers proudly join this multi-state effort focused on enforcement and education. We’re committed to holding operators accountable and reminding everyone behind the wheel of a commercial or rental truck to “Check Your Height, Know it’s Right’ before they drive.”

    New York State Department of Motor Vehicles Commissioner and Chair of the Governor’s Traffic Safety Committee Mark J.F. Schroeder said, “I commend the efforts of the Department of Transportation and the Bridge Strike Task Force to tackle this preventable problem. DMV is also taking action through regulatory amendments that will assign eight points to the driving record of a driver who exceeds height limitations and strikes a bridge. No matter whether you are driving a tractor trailer or a pickup truck, you should be aware of what you may encounter on the road. If you know you will be going through an area with potentially lower height bridges, you need to check to make sure your vehicle will fit and if it will not, find an alternate route. ”

    New York State Thruway Authority Executive Director Frank G. Hoare said, “The ‘Know Your Height’ campaign is a critical tool in preventing bridge strikes, not just on the New York State Thruway, but on every roadway across our state. Each bridge strike is more than an inconvenience; it poses a serious risk to drivers and the local communities we connect. We proudly stand with Governor Hochul, our partners in state government, and key stakeholders to raise awareness and take meaningful action to ensure safer roads for all New Yorkers.”

    New York State Bridge Authority Executive Director Dr. Minosca Alcantara said, “The Bridge Authority is proud to stand with its colleagues across the state and along the eastern seaboard in raising awareness of this critical issue. Bridge strikes are entirely preventable. Just as commercial vehicle operators must know the weight and width of their load and plan their routes accordingly, it is equally essential that they are aware of their vehicle’s height. With a little foresight and responsible trip planning, we can protect human lives and preserve vital infrastructure.”

    Trucking Association of New York Vice President of Government Affairs Zach Miller said, “The trucking industry prioritizes the safe and efficient movement of freight. Unfortunately, in New York, we too often see drivers — unfamiliar with our roads, renting larger equipment, or both — striking low-clearance bridges. Such occurrences threaten the efficiency of our already delicate and diverse freight network. We applaud the ‘Check Your Height, Know It’s Right’ campaign — regional education and awareness, and partnership with state agencies will have a meaningful impact in protecting infrastructure, educating drivers, and making our roads safer for everyone.”

    MIL OSI USA News –

  • MIL-OSI USA: July 22nd, 2025 Heinrich Announces Committee Passage of Over $205 Million for New Mexico’s Military Installations and Significant Wins for Veterans

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    Investments Heinrich championed include childcare assistance, improved telehealth & rural health services, & expanded homelessness prevention programs

    WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.) announced the bipartisan Senate Appropriations Committee passage of the Fiscal Year 2026 (FY26) Military Construction, Veterans Affairs, and Related Agencies Appropriations Bill. With Committee passage of this bill, Heinrich secured support for over $205 million for New Mexico’s military installations and significant wins for New Mexico’s veterans, including over $32 million in Congressionally Directed Spending for five local projects.

    “For our nation’s veterans and military families, this bill keeps our promise: that when they come home, they will receive the recognition, education, housing, and health care that they have earned through their service. It also strengthens New Mexico’s role as a leader in national security and bolsters our local economies,” said Heinrich, a member of the Senate Appropriations Committee. “This bill will also ensure that our service members are best equipped with state-of-the-art technology and resources to defend freedom at home and abroad. As a member of the Senate Appropriations Committee, I am committed to doing everything I can to support the heroic Americans who sacrifice so much to keep us safe.”

    Heinrich is a member of the Senate Appropriations Committee and the former Chair of the Appropriations Subcommittee on Military Construction, Veterans Affairs, and Related Agencies.

    New Mexico Military Construction

    Heinrich secured Committee support of investments in seven New Mexico projects.

    Heinrich successfully included funds for the following projects:

    • $90,000,000 for the construction of a 192-bed dormitory for airmen at Cannon Air Force Base.
    • $83,000,000 for the construction of a new Space Rapid Capabilities Office Headquarters on Kirtland Air Force Base.
    • $18,250,000 to construct a new Explosive Operations Building at Kirtland Air Force Base, which is essential for the safe and efficient handling, inspection, and storage of munitions in alignment with Air Force operational requirements.
    • $3,200,000 to construct a Child Development Center (CDC) on Kirtland Air Force Base that supports the growing childcare needs of Kirtland Air Force Base personnel.

    Heinrich also secured language addressing the ongoing energy infrastructure needs at White Sands Missile Range, ensuring troop readiness and training is prioritized.

    Heinrich and U.S. Senator Ben Ray Luján (D-N.M.) also successfully included funding for the following projects:

    • $8,100,000 to renovate and construct a training facility for Security Forces at Cannon Air Force Base. This will help support the continued growth of this Security Force unit.
    • $2,000,000 to restore and improve antiterrorism technology at the Wyoming Gateat Kirtland Air Force Base.
    • $700,000 to finish the design of a new High Speed Test Track at Holloman Air Force Base.

    Support for Veterans

    Heinrich secured Committee support for key veteran programs.

    Suicide Prevention

    Heinrich successfully secured $18,866,195,000 for mental health treatment, including $697,760,000 for suicide prevention outreach. Heinrich also secured language encouraging the VA to use predictive modeling and analytics for veteran suicide prevention in the Recovery Engagement and Coordination for Health-Veterans Enhanced Treatment (REACH VET) program. This innovative solution would identify veterans with evidence-based risk factors for suicidal ideation in order to get help to veterans before a potential mental health crisis.

    In 2020, Heinrich voted in favor of the Commander John Scott Hannon Veterans Mental Health Care Improvement Act of 2019 (P.L. 116-171), which supported and authorized the REACH VET program.

    Rural Health

    Heinrich successfully secured $342,455,000 for the VA’s Office of Rural Health and its Rural Health Initiative to continue supporting veterans with services like transportation to appointments for highly rural veterans, utilization of innovative transportation service technologies, and outreach to highly rural veterans.

    An estimated 2.7 million rural and highly rural veterans are enrolled in the Veterans Health Administration (VHA). Many rural veterans enrolled in the VA health care system are at an advanced age, with approximately 54 percent aged 65 or older. With the aging veteran population growing increasingly medically complex and more likely to be diagnosed with chronic conditions like diabetes, obesity, high blood pressure, and heart disease, each requiring more frequent, ongoing, and costly care, these funds would help close the gap and get highly rural veterans the care they need.

    Telehealth Services

    Heinrich successfully secured $6,356,035,000 to sustain and increase telehealth capacity and expand the reach of VA medical providers to veterans in highly rural areas through the use of in-home telehealth and remote patient monitoring services. The bill also supports the Veterans Health Administration’s (VHA) rulemaking to eliminate copays for all virtual medical appointments of any type and especially for primary and preventative care appointments.

    Preventing Veteran Homelessness

    Heinrich successfully secured $3,459,121,000 to prevent veteran homelessness, including $702,821,000 to bolster the Supportive Services for Veteran Families Program, which would meet the needs of veterans including help with the rising costs of household goods; $670,900,000 for case management and administration of Housing and Urban Development – Veterans Affairs Supportive Housing vouchers; $323,100,000 for the Grant and Per Diem Program, which would support transitional housing and assist veterans in achieving housing stability; and, $139,843,000 for Veterans Justice Outreach and Legal Services for Veterans grants to award community-based organizations with funds to assist veterans with legal issues like accessing benefits, navigating family law, and securing safe and stable housing.

    Veterans Affairs Service Purchasing (VASP) Program

    Heinrich successfully secured report language directing the VA to explain why it abruptly ended the Veterans Affairs Service Purchasing program, a critical program that would keep veterans who were unable to pay their mortgage in their homes. At least 130 New Mexico veterans could be impacted by this administration’s shortsighted decision to end the Veterans Affairs Service Purchasing program without loss mitigation policies.

    Access to Medications for Substance Use Disorder

    Heinrich successfully secured $709,573,000 for the Opioid Prevention and Treatment programs at the VA, including $454,086,000 for treatment programs and $254,487,000 to continue implementation of the Jason Simcakoski Memorial and Promise Act. Heinrich voted in favor of this bill’s authorizing legislation, the Comprehensive Addiction and Recovery Act, in 2016 (P.L. 114-198).

    Veteran Family Resource Program

    Heinrich successfully secured language to require a status report on the Veteran Family Resource Program rollout, including authorities and funding needed to ensure a successful, continued rollout that reduces rates of child abuse and neglect among families with veterans. Services would include interventions like case management assistance to address evidence-based risk factors like housing and food insecurity in veteran families.

    Childcare Assistance

    Heinrich successfully secured an additional $3,000,000 in the VA’s overall budget to support the expansion of childcare centers at VA medical facilities through a pilot program. Heinrich originally voted in favor of the Caregivers and Veterans Omnibus Health Services Act of 2010 (P.L. 111-163) while Congressman for New Mexico’s 1stCongressional district. This bill led to the VA’s initial childcare pilot program to assess feasibility and advisability of providing childcare services to veterans receiving mental health and intensive health care services.

    As a result, in 2016, the VA launched a childcare pilot program to implement three (3) free, drop-in childcare service centers across three locations in the states of New York and Washington. Survey data indicate nearly a third of veterans are interested in childcare services and approximately 10 percent have had to cancel or reschedule medical appointments due to lack of childcare.

    Grants for Construction of State Extended Care Facilities

    Heinrich successfully secured $171,000,000 in construction funds for state extended care facilities. In New Mexico, there is only one VA long-term care facility, despite demand for additional capacity and facilities. These facilities are particularly important to ensure aging and disabled veterans receive the appropriate level of care.

    Medical and Prosthetics Research

    Heinrich successfully secured $943,000,000 to fund medical, rehabilitative, and health services research and support basic and clinical studies that advance knowledge leading to improvements in the prevention, diagnosis, and treatment of diseases and disabilities. Medical and prosthetic research at the Department of Veterans Affairs includes the fields of prosthetics, orthotics, adaptive equipment for vehicles, sensory aids, and related areas.

    VA Court of Appeals

    Heinrich successful secured language requiring the VA to improve transparency surrounding the large back log of cases at the VA Court of Appeals. According to last year’s Annual Report, there is a backlog of 200,805 cases.

    MIL OSI USA News –

  • MIL-OSI United Nations: Amid ‘Horror Show in Gaza’, Humanitarian System Denied Space to Deliver, Multilateral Problem-Solving Needed More than Ever, Secretary-General Tells Security Council

    Source: United Nations General Assembly and Security Council

    Following are UN Secretary-General António Guterres’ remarks to the Security Council on multilateralism and peaceful settlement of disputes, in New York today:

    I want to thank Deputy Prime Minister and Foreign Minister Ishaq Dar and Pakistan for convening today’s open debate.  The topic of today’s debate shines a light on the clear connection between international peace and multilateralism.

    Eighty years ago, the United Nations was founded with a primary purpose — to safeguard humanity from the scourge of war.  The architects of the United Nations Charter recognized that the peaceful resolution of disputes is the lifeline when geopolitical tensions escalate, when unresolved disputes fuel the flames of conflict and when States lose trust in each other.

    The Charter lays out a number of important tools to forge peace.  Article 2.3 of the UN Charter is clear:  “All Members shall settle their international disputes by peaceful means in such a manner that international peace and security, and justice, are not endangered.”

    Chapter VI of the Charter is equally clear on the specific responsibilities of this Council to help ensure the pacific settlement of disputes “by negotiation, enquiry, mediation, conciliation, arbitration, judicial settlement, resort to regional agencies or arrangements, or other peaceful means of their own choice”.  Action 16 of the Pact of the Future calls on Member States to recommit to all the mechanisms of preventive diplomacy and the peaceful settlement of disputes.

    I commend Pakistan for utilizing its presidency to put forward a resolution urging all Member States to make full use of these tools in our collective pursuit of global peace.  This is needed now more than ever.

    Around the world, we see an utter disregard for — if not outright violations of — international law — including international human rights law, international refugee law, international humanitarian law and the UN Charter itself, without any accountability.

    These failures to uphold international obligations are coming at a time of widening geopolitical divides and conflicts.  And the cost is staggering — measured in human lives, shattered communities, and lost futures.

    We need look no further than the horror show in Gaza — with a level of death and destruction without parallel in recent times.  Malnourishment is soaring.  Starvation is knocking on every door.

    And now we are seeing the last gasp of a humanitarian system built on humanitarian principles.  That system is being denied the conditions to function.  Denied the space to deliver.  Denied the safety to save lives.  With Israeli military operations intensifying and new displacement orders issued in Deir al-Balah, devastation is being layered upon devastation.

    I am appalled that UN premises have been struck — among them facilities of the UN Office for Project Services and the World Health Organization (WHO), including WHO’s main warehouse.  This is despite all parties having been informed of the locations of these UN facilities.  These premises are inviolable and must be protected under international humanitarian law — without exception.

    From Gaza to Ukraine, from the Sahel to Sudan, Haiti and Myanmar, and many other parts of the world, conflict is raging, international law is being trampled, and hunger and displacement are at record levels.  And terrorism, violent extremism and transnational crime remain persistent scourges pushing security further out of reach.

    Diplomacy may not have always succeeded in preventing conflicts, violence and instability.  But it still holds the power to stop them.  Peace is a choice.  And the world expects the UN Security Council to help countries make this choice.  This Council is at the centre of the global architecture for peace and security.  Its creation reflected a central truth.

    Competition between States is a geopolitical reality.  But cooperation — anchored in shared interests and the greater good — is the sustainable pathway to peace.  Too often, we see divisions, entrenched positions and escalatory discourse blocking solutions and the effectiveness of the Council.

    But we have also seen some inspiring examples of finding common ground and forging solutions to global problems.

    For example, today marks three years since the signing of the Black Sea Initiative and the Memorandum of Understanding with the Russian Federation — efforts that show what we can achieve through mediation and the good offices of the United Nations, even during the most challenging moments.

    And we’ve seen many other recent examples.

    From the Sevilla Conference on Financing for Development, to the Oceans Conference in Nice, to the Agreement on Marine Biological Diversity of Areas Beyond National Jurisdiction and the Cybercrime Treaty, to the Pact for the Future adopted last year.

    The Pact, in particular, demonstrates a clear re-commitment by the world to strengthen the United Nations collective security system.  Drawing from the New Agenda for Peace, it prioritizes preventive diplomacy and mediation — all areas where this Council can play a vital role.

    As we look to the theme of today’s debate, I see three areas where we can live up to the Pact’s call to renew our commitment to — and the world’s faith in — the multilateral problem-solving architecture.

    First — this Council’s members, in particular its permanent members, must continue working to overcome divisions.  The majority of situations on the Security Council’s agenda are complex and resist quick fixes.

    But even in the darkest days of the cold war, the collective dialogue and decision-making in this Council underpinned a common and effective system of global security.  One that successfully deployed a range of peacekeeping missions.  One that opened the door for vital humanitarian aid to flow to people in need.  And one that helped prevent a third World War.

    I urge you to summon this same spirit by keeping channels open, continuing to listen in good faith, and working to overcome differences and building consensus.

    We must also work to ensure that this Council reflects the world of today, not the world of 80 years ago.  This Council should be made more representative of today’s geopolitical realities.  And we must continue improving the working methods of this Council to make it more inclusive, transparent, efficient and accountable.  I urge you to continue building consensus to move the intergovernmental negotiations forward.

    Second — this Council must continue strengthening cooperation with regional and subregional partners.  The landmark adoption of Security Council resolution 2719 supporting African Union-led peace support operations through assessed contributions is a good example of how we can join efforts with regional organizations to support more effective responses.

    I also commend this Council’s steps to strengthen and rebuild regional security frameworks to encourage dialogue and advance the peaceful settlement of disputes.

    And third — Member States must honour their obligations under international law, including the UN Charter, international human rights law and international humanitarian law.

    The Pact for the Future calls on all Member States to live up to their commitments in the UN Charter, and the principles of respect for sovereignty, territorial integrity and the political independence of States.

    All grounded in international law, and a commitment to prioritizing prevention of conflict and the peaceful settlement of disputes through dialogue and diplomacy.  The Pact also recognized the critical contribution of the International Court of Justice, which celebrates its eightieth anniversary next year.

    As we mark the eightieth anniversary of our Organization and the Charter that gave it life and shape, we need to renew our commitment to the multilateral spirit of peace through diplomacy.  I look forward to working with you in this important effort, to achieve the international peace and security the people of the world need and deserve.

    MIL OSI United Nations News –

  • MIL-OSI USA: Last Day to Apply for Federal Assistance for April Storms

    Source: US Federal Emergency Management Agency 2

    strong>LITTLE ROCK, Ark. – Homeowners and business owners who had damage from the destructive storms, tornadoes and flooding in Arkansas in April have until 11:59 p.m. Tuesday, July 22, to apply for federal disaster assistance.
    Residents including homeowners, renters and business owners may apply for assistance if your home or business is in Clark, Clay, Craighead, Crittenden, Desha, Fulton, Greene, Hot Spring, Jackson, Miller, Ouachita, Pulaski, Randolph, St. Francis, Saline, Sharp or White County.
    In planning your recovery from the April 2-22 storms, give yourself the widest possible set of options. If you applied for damage or losses after the storms in March, you may apply again for FEMA assistance for uninsured property losses from the April storms. Previous FEMA aid does not affect eligibility for assistance. 
    Loans from the U.S. Small Business Administration also hold many benefits for survivors. SBA loans are not just for businesses. They are the largest source of federal disaster recovery funds for survivors. In a presidentially declared disaster, these long-term, low-interest loans are available to homeowners, renters, businesses of all sizes and nonprofit organizations including houses of worship.
    FEMA has many types of assistance available. FEMA may be able to help with basic home repair costs, personal property loss, and temporary housing while you are unable to live in your home. Repair or replacement assistance may be available for a primary vehicle, a computer damaged in the disaster, or books and other items required for school. 
    To apply for FEMA assistance, go to DisasterAssistance.gov, use the FEMA App for mobile devices or call the FEMA Helpline at 800-621-3362. Lines are open daily from 6 a.m. to 10 p.m. CT and specialists speak many languages. If you use a relay service, captioned telephone or other service, you can give FEMA your number for that service. To view an accessible video on how to apply, visit Three Ways to Apply for FEMA Disaster Assistance – YouTube.
    To apply or to download an SBA application, go to SBA.gov/disaster. You may also call SBA’s Customer Service Center at 800-659-2955 or email DisasterCustomerService@sba.gov.
    Survivors can also submit documents and speak to someone about their FEMA or SBA applications at several sites. To find locations and hours, visit fema.gov/disaster/4873, scroll to the bottom of the page and click the link under “In-person Survivor Assistance.”
    For the latest information about Arkansas’ recovery, visit fema.gov/disaster/4873. Follow FEMA Region 6 on social media at x.com/FEMARegion6 and at facebook.com/FEMARegion6

    MIL OSI USA News –

  • MIL-OSI Security: Forty-Eighth Conviction in Feeding Our Future Fraud Scheme

    Source: Office of United States Attorneys

    MINNEAPOLIS – Asad Mohamed Abshir has pleaded guilty to one count of money laundering for his role in the Feeding Our Future fraud scheme, announced Acting U.S. Attorney Joseph H. Thomspon.  He is the 48th defendant to be convicted in this massive fraud scheme.

    “This guilty plea is another step in exposing the staggering levels of fraud that have been hiding in plain sight across Minnesota,” said Acting U.S. Attorney Joseph H. Thompson. “This defendant laundered money meant to feed children and funneled it into a web of shell companies and luxury spending. As FBI Director Kah Patel recently said, this case stands as one of the most egregious abuses of public trust in recent memory. The people of Minnesota deserve better.”

    In fall of 2020, the defendant, Asad Mohamed Abshir, 34, assisted his brother and co-defendant, Abdinasir Abshir, in the operations of non-profit called Stigma Free International. Under the sponsorship of Feeding Our Future, the Abshir brothers claimed to operate, through Stigma Free, a food distribution site in Mankato, Minneosta. At the same time, Abdinasir Abshir claimed to provide food for the Mankato site through an entity he controlled called Horseed Management LLC. But the Abshirs did not provide the food they claimed to, and they were not entitled to the taxpayer dollars they received for their claims.

    Over the course of 2020 to 2021, the Abshirs fraudulently claimed to have provided 1.6 million meals to children. For his role in the scheme, Abdinasir personally received about $750,000. The defendant used $77,353 in fraud proceeds to purchase a 2022 GMC Sierra 1500 Denali truck, which has been seized and will be forfeited to the United States. In addition, the Unites States seized $424,762.51 from the bank account for the defedant’s shell company, Santana LLC, all of which will be forfeited.

    “Asad Abshir’s guilty plea underscores a troubling intersection of deception and exploitation within federal assistance programs designed to nourish vulnerable populations,” said FBI Minneapolis Special Agent in Charge Alvin M. Winston Sr. “Abshir not only undermined the integrity of the Federal Child Nutrition Program, but also abused the resources intended for the nation’s most at-risk children. This case serves as a stark reminder of the critical need for stringent oversight and accountability in the administration of taxpayer dollars.”

    This case is the result of an investigation conducted by the FBI, IRS – Criminal Investigations, and the U.S. Postal Inspection Service

    Abshir pleaded guilty yesterday in U.S. District Court before Judge Nancy E. Brasel. A sentencing hearing will be scheduled at a later date.

    Acting U.S. Attorney Joseph H. Thompson and Assistant U.S. Attorneys Matthew S. Ebert, Harry M. Jacobs, and Daniel W. Bobier are prosecuting the case. Assistant U.S. Attorney Craig Baune is handling the seizure and forfeiture of assets.

    MIL Security OSI –

  • MIL-OSI Security: Forty-Eighth Conviction in Feeding Our Future Fraud Scheme

    Source: Office of United States Attorneys

    MINNEAPOLIS – Asad Mohamed Abshir has pleaded guilty to one count of money laundering for his role in the Feeding Our Future fraud scheme, announced Acting U.S. Attorney Joseph H. Thomspon.  He is the 48th defendant to be convicted in this massive fraud scheme.

    “This guilty plea is another step in exposing the staggering levels of fraud that have been hiding in plain sight across Minnesota,” said Acting U.S. Attorney Joseph H. Thompson. “This defendant laundered money meant to feed children and funneled it into a web of shell companies and luxury spending. As FBI Director Kah Patel recently said, this case stands as one of the most egregious abuses of public trust in recent memory. The people of Minnesota deserve better.”

    In fall of 2020, the defendant, Asad Mohamed Abshir, 34, assisted his brother and co-defendant, Abdinasir Abshir, in the operations of non-profit called Stigma Free International. Under the sponsorship of Feeding Our Future, the Abshir brothers claimed to operate, through Stigma Free, a food distribution site in Mankato, Minneosta. At the same time, Abdinasir Abshir claimed to provide food for the Mankato site through an entity he controlled called Horseed Management LLC. But the Abshirs did not provide the food they claimed to, and they were not entitled to the taxpayer dollars they received for their claims.

    Over the course of 2020 to 2021, the Abshirs fraudulently claimed to have provided 1.6 million meals to children. For his role in the scheme, Abdinasir personally received about $750,000. The defendant used $77,353 in fraud proceeds to purchase a 2022 GMC Sierra 1500 Denali truck, which has been seized and will be forfeited to the United States. In addition, the Unites States seized $424,762.51 from the bank account for the defedant’s shell company, Santana LLC, all of which will be forfeited.

    “Asad Abshir’s guilty plea underscores a troubling intersection of deception and exploitation within federal assistance programs designed to nourish vulnerable populations,” said FBI Minneapolis Special Agent in Charge Alvin M. Winston Sr. “Abshir not only undermined the integrity of the Federal Child Nutrition Program, but also abused the resources intended for the nation’s most at-risk children. This case serves as a stark reminder of the critical need for stringent oversight and accountability in the administration of taxpayer dollars.”

    This case is the result of an investigation conducted by the FBI, IRS – Criminal Investigations, and the U.S. Postal Inspection Service

    Abshir pleaded guilty yesterday in U.S. District Court before Judge Nancy E. Brasel. A sentencing hearing will be scheduled at a later date.

    Acting U.S. Attorney Joseph H. Thompson and Assistant U.S. Attorneys Matthew S. Ebert, Harry M. Jacobs, and Daniel W. Bobier are prosecuting the case. Assistant U.S. Attorney Craig Baune is handling the seizure and forfeiture of assets.

    MIL Security OSI –

  • MIL-OSI Security: Laredo man sentenced to 63 months for smuggling over 100 illegal aliens in locked trailer

    Source: Office of United States Attorneys

    LAREDO, Texas – A 49-year-old resident of Laredo has been ordered to federal prison for his role in a conspiracy to transport illegal aliens, announced U.S. Attorney Nicholas J. Ganjei.

    Juan Manuel Aguirre pleaded guilty Feb. 6.

    U.S. District Judge Keith P. Ellison has now ordered Aguirre to serve 63 months in federal prison to be immediately followed by three years of supervised release. At the hearing, the court considered Aguirre’s history of smuggling aliens on multiple occasions and the danger he posed by transporting them in a sealed, locked, dark and unventilated trailer that required authorities to open with a bolt cutter. 

    “Human smuggling is an incredibly dangerous enterprise, and it requires the trafficker to care absolutely nothing about the lives and safety of those they transport,” said Ganjei. “Fortunately, there were no deaths in this case, but the underlying facts indicate that several of those transported had difficulty breathing and feared for their life. The Southern District of Texas will make sure that all human smugglers pay a serious price for their callousness.”

    On Dec. 2, 2024, law enforcement observed several individuals being loading into a white trailer in a warehouse parking lot. Aguirre was the driver of the truck hauling it. After he departed the location, authorities conducted a traffic stop which resulted in the discovery of 101 aliens locked inside the trailer, 13 of whom were children as young as 13 years old.

    Multiple illegal aliens reported they had difficulty breathing and feared for their life due to the conditions in the trailer. They were from the countries of Mexico, Guatemala, Cuba and Honduras.

    Aguirre will remain in custody pending transfer to a Federal Bureau of Prisons facility to be determined in the near future.

    Immigration and Customs Enforcement – Homeland Security Investigations, FBI, Texas Department of Public Safety and Border Patrol conducted the Organized Crime Drug Enforcement Task Forces (OCDETF) operation with the assistance of Customs and Border Protection, Drug Enforcement Administration and Webb County Sheriff’s Office. OCDETF identifies, disrupts and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found on the Department of Justice’s OCDETF webpage.

    Assistant U.S. Attorney Brandon Scott Bowling is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI USA: Luján Secures Nearly $17 Million in Federal Investments for New Mexico in Committee-Passed Appropriations Bills

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)

    Washington, D.C. – Today, U.S. Senator Ben Ray Luján (D-N.M.) announced funding secured for New Mexico communities through the Appropriations Committee’s bipartisan passage of the Fiscal Year (FY) 2026 Military Construction, Veterans Affairs, and Related Agencies (MilCon-VA) Appropriations Bill and Fiscal Year (FY) 2026 Commerce, Justice, Science, and Related Agencies (CJS) Appropriations Bill.

    From both appropriations bills, Senator Luján secured $16,820,000 in Congressionally Directed Spending for key local projects that will strengthen our national security, boost violence intervention programs, and equip law enforcement with the resources needed to keep New Mexico communities safe.  

    “Across New Mexico, these vital investments will deliver resources to enhance public safety in our communities and upgrade infrastructure at our military bases to boost our military’s readiness and safety,” said Senator Luján. “This funding will equip our brave law enforcement officers with the tools they need to protect New Mexicans, support programs aimed at reducing youth violence and violence in Tribal communities, and reinforce critical infrastructure at our military bases. I’m proud to have fought to secure these investments for our communities, and I’ll continue working to deliver the federal support our families and communities need and deserve.”

    The Committee process is the first step, and the appropriations bills will next be considered by the full U.S. Senate.

    Senator Luján Secured Nearly $17 Million for the Following Local Projects:

    Strengthening New Mexico’s Air Force Bases:

    • $8,100,000 for infrastructure upgrades at Cannon Air Force Base, specifically for ADAL Security Forces Facility. Secured by Senator Luján and Senator Heinrich.
    • $2,000,000 for infrastructure upgrades at Kirtland Air Force Base, specifically for the design for the Wyoming Gate Project. Secured by Senator Luján and Senator Heinrich.
    • $700,000 for infrastructure upgrades at Holloman Air Force Base, specifically for the design for the Holloman High Speed Test Track. Secured by Senator Luján and Senator Heinrich.

    Boosting Public Safety Throughout New Mexico:

    • $1,069,000 for the City of Albuquerque’s Real Time Crime Center for the purchase of law enforcement technology.
    • $1,042,000 for Bernalillo County Sheriff’s Office to purchase a new fleet of vehicles.
    • $1,031,000 for the New Mexico Department of Public Safety Police to provide 5G technology in fleet vehicles. Secured by Senator Luján, Senator Heinrich, and Representative Stansbury in the House-companion bill.
    • $1,000,000 for UNM Office of the Medical Investigator DNA processing laboratory to allow for the purchase of equipment for DNA identification. Secured by Senator Luján and Senator Heinrich.
    • $500,000 for Bernalillo Country public safety technology upgrades to address high rates of crime in the Albuquerque metro area. Secured by Senator Luján, Senator Heinrich, and Representative Vasquez in the House-companion bill.
    • $250,000 for the San Juan County Partnership’s Law Enforcement Assisted Diversion (LEAD) program to assist in mitigating individuals with substance use disorder or mental/behavioral health challenges from continuously interacting with law enforcement.

    Funding Violence Intervention and Prevention Programs:

    • $1,0350,000 for the City of Albuquerque’s expansion of school-based violence intervention program to assist at risk students by improving grades and reducing youth violence.
    • $93,000 for the Coalition to Stop Violence Against Native women to address challenges in domestic violence and sexual violence in Tribal communities.

    MIL OSI USA News –

  • MIL-OSI United Nations: Supercharging Clean Energy Will Repair Humankind’s Relationship with Climate, Fuel Economic Growth, Secretary-General Says, Noting $2 Trillion Invested in 2024

    Source: United Nations General Assembly and Security Council

    Following is UN Secretary-General António Guterres’ address on climate action “A Moment of Opportunity:  Supercharging the Clean Energy Age”, in New York today:

    The headlines are dominated by a world in trouble.  By conflict and climate chaos.  By rising human suffering.  By growing geopolitical divides.  But amidst the turmoil, another story is being written.  And its implications will be profound.

    Throughout history, energy has shaped the destiny of humankind — from mastering fire to harnessing steam to splitting the atom.  Now, we are on the cusp of a new era.  Fossil fuels are running out of road.  The sun is rising on a clean energy age.

    Just follow the money.  Two trillion dollars went into clean energy last year — that’s $800 billion more than fossil fuels and up almost 70 per cent in 10 years.  And new data released today from the International Renewable Energy Agency shows that solar — not so long ago four times the cost of fossil fuels — is now 41 per cent cheaper.  Offshore wind — 53 per cent. And over 90 per cent of new renewables worldwide produced electricity for less than the cheapest new fossil fuel alternative.

    This is not just a shift in power.  This is a shift in possibility.  Yes, in repairing our relationship with the climate.  Already, the carbon emissions saved by solar and wind globally are almost equivalent to what the whole European Union produces in a year.

    But this transformation is fundamentally about energy security and people’s security.  It’s about smart economics.  Decent jobs, public health, advancing the Sustainable Development Goals.  And delivering clean and affordable energy to everyone, everywhere.

    Today, we are releasing a special report with the support of UN agencies and partners — the International Energy Agency, the International Monetary Fund (IMF), International Renewable Energy Agency, the Organisation for Economic Cooperation and Development (OECD) and the World Bank.

    The report shows how far we have come in the decade since the Paris Agreement sparked a clean energy revolution.  And it highlights the vast benefits — and actions needed — to accelerate a just transition globally.

    Renewables already nearly match fossil fuels in global installed power capacity.  And that’s just the beginning.  Last year, almost all the new power capacity built came from renewables.  And every continent on Earth added more renewables capacity than fossil fuels.  The clean energy future is no longer a promise.  It’s a fact.  No government.  No industry. No special interest can stop it.

    Of course, the fossil fuel lobby of some fossil fuel companies will try — and we know the lengths to which they will go. But I have never been more confident that they will fail — because we have passed the point of no return.

    For three powerful reasons.  First, market economics.  For decades, emissions and economic growth rose together.  No more.  In many advanced economies, emissions have peaked, but growth continues.

    In 2023 alone, clean energy sectors drove 10 per cent of global gross domestic product (GDP) growth.  In India, 5 per cent.  The United States, 6 per cent.  China — a leader in the energy transition — 20 per cent.  And in the European Union, nearly 33 per cent.  And clean energy sector jobs now outnumber fossil fuel jobs — employing almost 35 million people worldwide.

    Even Texas — the heart of the American fossil fuel industry — now leads the United States in renewables.  Why?  Because it makes economic sense.

    And yet fossil fuels still enjoy a 9-to-1 advantage in consumption subsidies globally — a clear market distortion.  Add to that the unaccounted costs of climate damages on people and planet — and the distortion is even greater.

    Countries that cling to fossil fuels are not protecting their economies — they are sabotaging them.  Driving up costs.  Undermining competitiveness.  Locking in stranded assets.  And missing the greatest economic opportunity of the twenty-first century.

    Second — renewables are here to stay because they are the foundation of energy security and sovereignty. Let’s be clear:  The greatest threat to energy security today is in fossil fuels.  They leave economies and people at the mercy of price shocks, supply disruptions and geopolitical turmoil.  Just look at Russia’s invasion of Ukraine.  A war in Europe led to a global energy crisis.  Oil and gas prices soared.  Electricity and food bills followed.  In 2022 average households around the world saw energy costs jump 20 per cent.

    Modern and competitive economies need stable, affordable energy. Renewables offer both.  There are no price spikes for sunlight.  No embargoes on wind.  Renewables can put power — literally and figuratively — in the hands of people and governments.  And almost every nation has enough sun, wind, or water to become energy self-sufficient.  Renewables mean real energy security.  Real energy sovereignty.  And real freedom from fossil-fuel volatility.

    The third and final reason why there is no going back on renewables: Easy access.  You can’t build a coal plant in someone’s backyard.  But you can deliver solar panels to the most remote village on Earth.  Solar and wind can be deployed faster, cheaper and more flexibly than fossil fuels ever could.  And while nuclear will be part of the global energy mix, it can never fill the access gaps.

    All of this is a game changer for the hundreds of millions of people still living without electricity — most of them in Africa, a continent bursting with renewable potential. By 2040, Africa could generate 10 times more electricity than it needs — entirely from renewables.

    We are already seeing small-scale and off-grid renewable technologies lighting homes, and powering schools and businesses in remote areas.  And in places like Pakistan for example, people power is fuelling a solar surge — consumers are driving the clean energy boom.

    The energy transition is unstoppable.  But the transition is not yet fast enough or fair enough.  OECD countries and China account for 80 per cent of renewable power capacity installed worldwide.  Brazil and India make up nearly 10 per cent.  Africa — just 1.5 per cent.

    Meanwhile, the climate crisis is laying waste to lives and livelihoods.  Climate disasters in small island States have wiped out over 100 per cent of GDP.  In the United States, they are pushing insurance premiums through the roof.

    And the 1.5-degree limit is in unprecedented peril.  To keep it within reach, we must drastically speed up the reduction of emissions — and the reach of the clean energy transition.  With manufacturing capacity racing, prices plummeting, and COP30 [Thirtieth Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change] fast approaching…  This is our moment of opportunity.  We must seize it.  We can do so by taking action in six opportunity areas.

    First — by using new national climate plans to go all-out on the energy transition.  Too often, governments send mixed messages:  Bold renewable targets on one day.  New fossil fuel subsidies and expansions the next.

    The next national climate plans, or NDCs, are due in a matter of months.  They must bring clarity and certainty.  Group of Twenty (G20) countries must lead. They produce 80 per cent of global emissions.  The principle of common but differentiated responsibilities must apply but every country must do more.  Ahead of COP30 in Brazil this November, they must submit new plans.

    I invite leaders to present their new NDCs at an event I will host in September, during General Assembly High-level week.   These must: cover all emissions, across the entire economy; align with the 1.5-degree limit; integrate energy, climate and sustainable development priorities into one coherent vision; and deliver on global promises to double energy efficiency and triple renewables capacity by 2030, and to accelerate the transition away from fossil fuels.  These plans must be backed by long-term road maps for a just transition to net-zero energy systems — in line with global net-zero by 2050.

    And they must be underpinned by policies that show that the clean energy future is not just inevitable — but investable.  Policies that create clear regulations and a pipeline of projects.  That enhance public-private partnerships — unlocking capital and innovation.  That put a meaningful price on carbon.  And that end subsidies and international public finance for fossil fuels — as promised.

    Second, this is our moment of opportunity to build the energy systems of the twenty-first century.  The technology is moving ahead.  In just 15 years, the cost of battery storage systems for electricity grids has dropped over 90 per cent.

    But here’s the problem.  Investments in the right infrastructure are not keeping up.  For every dollar invested in renewable power, just 60 cents go to grids and storage.  That ratio should be one-to-one.

    We are building renewable power — but not connecting it fast enough.  There’s three times more renewable energy waiting to be plugged into grids than was added last year.  And fossil fuels still dominate the global total energy mix.

    We must act now and invest in the backbone of a clean energy future:  In modern, flexible and digital grids — including regional integration.  In a massive scale-up of energy storage.  In charging networks — to power the electric vehicle revolution.

    On the other hand, we need energy efficiency but also electrification — across buildings, transport and industry. This is how we unlock the full promise of renewables — and build energy systems that are clean, secure and fit for the future.

    Third, this is our moment of opportunity to meet the world’s surging energy demand sustainably.  More people are plugging in.  More cities are heating up — with soaring demand for cooling.  And more technologies — from AI to digital finance — are devouring electricity.  Governments must aim to meet all new electricity demand with renewables.

    AI can boost efficiency, innovation and resilience in energy systems.  And we must take profit in it.  But it is also energy hungry.  A typical AI data centre eats up as much electricity as 100,000 homes.  The largest ones will soon use 20 times that.  By 2030, data centres could consume as much electricity as all of Japan does today.

    This is not sustainable — unless we make it so.  And the technology sector must be out front.  Today I call on every major tech firm to power all data centres with 100 per cent renewables by 2030.

    And — along with other industries — they must use water sustainably in cooling systems.  The future is being built in the cloud.  It must be powered by the sun, the wind and the promise of a better world.

    Fourth, this is the moment of opportunity for a just energy transition. The clean energy that we must deliver must also deliver equity, dignity and opportunity for all.

    That means governments leading a just transition.  With support, education and training — for fossil fuel workers, young people, women, Indigenous Peoples and others — so that they can thrive in the new energy economy.  With stronger social protection — so no one is left behind.  And with international cooperation to help low-income countries that are highly-dependent on fossil fuels and struggling to make the shift.

    But justice doesn’t stop here.  The critical minerals that power the clean energy revolution are often found in countries that have long been exploited.  And today, we see history repeating.  Communities mistreated.  Rights trampled.  Environments trashed.  Nations stuck at the bottom of value chains — while others reap rewards.  And extractive models digging deeper holes of inequality and harm.  This must end.

    Developing countries can play a major role in diversifying sources of supply. The UN Panel on Critical Energy Transition Minerals has shown the way forward — with a path grounded in human rights, justice and equity.

    Today, I call on governments, businesses and civil society to work with us to deliver its recommendations.  Let’s build a future that is not only green — but just.  Not only fast — but fair.  Not only transformative — but inclusive.

    Fifth, we have a moment of opportunity to use trade and investment to supercharge the energy transition.  Clean energy needs more than ambition.  It needs access — to technologies, materials and manufacturing.

    But these are concentrated in just a few countries.  And global trade is fragmenting.

    Trade policy must support climate policy.  Countries committed to the new energy era must come together to ensure that trade and investment drive it forward.  By building diverse, secure and resilient supply chains.  By cutting tariffs on clean energy goods.  By unlocking investment and trade — including through South-South cooperation. And by modernizing outdated investment treaties — starting with Investor-State Dispute Settlement provisions.

    Today, fossil fuel interests are weaponizing these provisions to delay the transition, particularly in several developing countries.  Reform is urgent.  The race for the new must not be a race for the few.  It must be a relay — shared, inclusive and resilient.  Let’s make trade a tool for transformation.

    Sixth and finally, this is our moment of opportunity to unleash the full force of finance — driving investment to markets with massive potential.  Despite soaring demand and vast renewables potential — developing countries are being locked out of the energy transition.

    Africa is home to 60 per cent of the world’s best solar resources.  But it received just 2 per cent of global clean energy investment last year.  Zoom out, and the picture is just as stark.

    In the last decade, only 1 in every 5 clean energy dollars went to emerging and developing countries outside China.  To keep the 1.5-degree limit alive — and deliver universal energy access – annual clean energy investment in those countries must rise more than fivefold by 2030.

    That demands bold national policies.  And concrete international action to:  Reform the global financial architecture.  Drastically increase the lending capacity of multilateral development banks — making them bigger, bolder and better able to leverage massive amounts of private finance at reasonable costs.  And take effective action on debt relief — and scale up proven tools like debt for climate swaps.

    Today, developing countries pay outlandish sums for both debt and equity financing — in part because of outdated risk models, bias and broken assumptions that boost the cost of capital.  Credit ratings agencies and investors must modernize.

    We need a new approach to risk that reflects:  the promise of clean energy; the rising cost of climate chaos; and the danger of stranded fossil fuel assets.  I urge parties to unite to solve the complex challenges facing some developing countries in the energy transition — such as early retirement of coal plants.

    The fossil fuel age is flailing and failing.  We are in the dawn of a new energy era.  An era where cheap, clean, abundant energy powers a world rich in economic opportunity.  Where nations have the security of energy autonomy.  And the gift of power is a gift for all.

    That world is within reach.  But it won’t happen on its own.  Not fast enough.  Not fair enough.  It is up to us.  We have the tools to power the future for humanity.  Let’s make the most of them.  This is our moment of opportunity.

    MIL OSI United Nations News –

  • MIL-OSI USA: Amid GOP Assault on Healthcare, Pressley, Duckworth, DeGette, Schakowsky, Frost, Colleagues Unveil EACH Act, Keep Up Fight for Reproductive Justice

    Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

    Lawmakers File EACH Act to End Hyde Amendment, Lift Unjust Abortion Coverage Restrictions on Medicaid, Other Government Sponsored Plans

    Follows Passage of Big, Ugly Bill that Guts Medicaid, Defunds Planned Parenthood, Further Restricts Healthcare

    Bill Text (PDF) | Floor Speech (YouTube)

    WASHINGTON – Today, as Republicans continue their assault on healthcare, Congresswoman Ayanna Pressley (MA-07), Co-Chair of the Reproductive Freedom Caucus, and Senator Tammy Duckworth (D-IL), along with Congresswoman Diana DeGette (CO-01), Co-Chair of the Reproductive Freedom Caucus, Congresswoman Jan Schakowsky (IL-09), Congressman Maxwell Frost (FL-10), and Senators Patty Murray (D-WA) and Mazie Hirono (D-HI), led their colleagues in reintroducing the Equal Access to Abortion Coverage in Healthcare (EACH) Act, bold legislation to guarantee abortion coverage—regardless of how a patient gets their health insurance. The lawmakers’ bill follows the enactment of Trump and Republicans’ Big, Ugly Bill, which will gut Medicaid, defund Planned Parenthood health centers, and push essential reproductive care further out of reach for millions of people.

    The EACH Act ends the discriminatory Hyde Amendment and lifts unjust abortion coverage restrictions for those who depend on Medicaid and other government-sponsored plans. The bill affirms the fundamental right to abortion care and helps ensure everyone can get the reproductive healthcare they need, regardless of income, insurance, or zip code.

    Rep. Pressley unveiled the bill in a floor speech last night. Full video of that speech is available here.

    “Abortion care is health care, and health care is a human right. With Trump and Republicans advancing a cruel, coordinated assault on our bodily autonomy—gutting Medicaid, defunding Planned Parenthood, and decimating access to care—we must use every tool available to protect and expand reproductive healthcare,” said Congresswoman Pressley, Co-Chair of the Reproductive Freedom Caucus. “The EACH Act would help us do just that. By repealing the racist and discriminatory Hyde Amendment, which has denied necessary care for vulnerable communities for nearly half a century, our bill would help ensure everyone in America can get the reproductive healthcare they need, regardless of income, insurance, or zip code. I’m grateful to Senator Duckworth and our colleagues for their partnership on this critical priority.”

    “Ever since Trump’s far-right Supreme Court majority struck down Roe, Republicans have made it their mission to strip away a woman’s right to reproductive health care—a right they have no place to stand in the way of,” said Senator Duckworth. “As Republicans’ Big, Beautiful Betrayal kicks millions off their health care, we must act to help strengthen access to abortion coverage for low-income Americans, servicemembers and millions more—no matter their zip code. I’m proud to reintroduce this legislation alongside my colleagues so we can do just that.”

    “For nearly 50 years, the Hyde Amendment has been Republicans’ go-to tool for chipping away at abortion rights, denying coverage to the most vulnerable communities,” said Rep. DeGette, Co-Chair of the Reproductive Freedom Caucus. “Now, they’re doubling down with the Big Bad Bill, blocking Medicaid patients from accessing any kind of care, not only abortion care, but also birth control and cancer screenings, at Planned Parenthood. The EACH Act is how we fight back, guaranteeing access to abortion care—no matter your income, your insurance, or your ZIP code”

    “The Hyde Amendment is a racist, discriminatory policy designed to put reproductive and economic freedom out of reach for women of color and low-income women who need an abortion. By restricting Medicaid coverage of abortion, the Hyde Amendment robs those working to make ends meet of the freedom to control their lives and decisions about what is best for their families,” said Congresswoman Jan Schakowsky. “Keeping the Hyde Amendment in place is yet another way for Trump and the extremists in the GOP to limit peoples’ reproductive freedom. Every person should have the freedom to make their own reproductive health care decisions regardless of their income, race, where they work, what zip code they live in, or how they get their insurance. That is why our bill, the EACH Act, will finally repeal the harmful Hyde Amendment. Abortion is health care and health care is a human right.”

    “Women should be able to get the abortion care they need no matter where they live or how much money they have. But for decades, the Hyde Amendment and similar abortion restrictions have blocked low-income women from getting the health care they need and wrongfully divided abortion care from health care for no other reason than Republican politicians’ extreme anti-choice views,” said Senator Murray. “The EACH Act would get rid of the Hyde Amendment and related abortion coverage bans that endanger the health and lives of women who rely on Medicaid or other government-sponsored health coverage. I will always fight to end Hyde and other unjust policies that allow politicians to interfere with women’s ability to make decisions about their bodies, their lives, and their futures.”

    “As Republicans gut Medicaid, defund Planned Parenthoods nationwide, and continue their onslaught of attacks on our bodily autonomy, the Hyde Amendment and other federal coverage restrictions are discriminatory barriers that continue to prevent access to safe and legal abortion care,” said Senator Hirono. “Everyone deserves access to reproductive health care. By ending the Hyde Amendment and expanding coverage for abortion services, the EACH Act would help guarantee abortion access for all, protecting our reproductive rights and our ability to make decisions about our own bodies.”

    “Everyone should have the freedom to control their own lives and bodies, no matter their income, race, or zip code,” said Nourbese Flint, President of All* Above All. “For too long, restrictions like the Hyde Amendment have robbed people working to make ends meet of their ability to make personal decisions about their health, families, and futures. In a time of escalating attacks on reproductive freedom – and efforts to defund Planned Parenthood, shut down clinics, and restrict care – the EACH act sets a powerful standard and helps to end racist and classist health care restrictions. We are proud to support this visionary bill to expand abortion access and ensure coverage for all.”

    Trump and Republicans’ Big, Ugly Bill, which passed Congress earlier this year, will dismantle access to reproductive health care in every state. It will defund Planned Parenthood, block Medicaid reimbursements to health centers, and slash care for millions of people. It would also gut Medicaid, ripping coverage from at least 10 million Americans and cutting off access to essential maternity care, birth control, cancer screenings, and more.

    Text of the EACH Act is available here.

    Joining the lawmakers in introducing the EACH Act are Representatives Alma Adams, Pete Aguilar, Gabe Amo, Yassamin Ansari, Jake Auchincloss, Becca Balint, Nanette Barragán, Joyce Beatty, Wesley Bell, Ami Bera, Don Beyer, Suzanne Bonamici, Shontel Brown, Julia Brownley, Nikki Budzinski, Janelle Bynum, Salud Carbajal, André Carson, Troy Carter, Greg Casar, Ed Case, Sean Casten, Kathy Castor, Joaquin Castro, Sheila Cherfilus-McCormick, Judy Chu, Gil Cisneros, Katherine Clark, Yvette Clarke, Emanuel Cleaver II, Steve Cohen, J. Luis Correa, Angie Craig, Jasmine Crockett, Jason Crow, Sharice Davids, Danny K. Davis, Madeleine Dean, Diana DeGette, Rosa DeLauro, Suzan DelBene, Chris Deluzio, Mark DeSaulnier, Maxine Dexter, Lloyd Doggett, Sarah Elfreth, Veronica Escobar, Adriano Espaillat, Dwight Evans, Shomari Figures, Lizzie Fletcher, Bill Foster, Valerie Foushee, Lois Frankel, Maxwell Frost, John Garamendi, Robert Garcia, Sylvia Garcia, Jesús “Chuy” García, Jared Golden, Dan Goldman, Maggie Goodlander, Josh Gottheimer, Al Green, Jahana Hayes, Jim Himes, Steven Horsford, Val Hoyle, Jared Huffman, Glenn Ivey, Sara Jacobs, Pramila Jayapal, Hank Johnson, Sydney Kamlager-Dove, William R. Keating, Robin Kelly, Tim Kennedy, Ro Khanna, Raja Krishnamoorthi, Greg Landsman, Rick Larsen, John B. Larson, George Latimer, Susie Lee, Summer L. Lee, Teresa Leger Fernández, Mike Levin, Ted Lieu, Seth Magaziner, John Mannion, Doris Matsui, Lucy McBath, Sarah McBride, April McClain Delaney, Jennifer McClellan, Betty McCollum, Morgan McGarvey, Jim McGovern, Gregory Meeks, Rob Menendez, Grace Meng, Kweisi Mfume, Dave Min, Gwen Moore, Joseph Morelle, Kelly Morrison, Jared Moskowitz, Seth Moulton, Kevin Mullin, Jerry Nadler, Eleanor Holmes Norton, Alexandria Ocasio-Cortez, Ilhan Omar, Frank Pallone Jr., Jimmy Panetta, Chris Pappas, Nancy Pelosi, Scott Peters, Brittany Pettersen, Chellie Pingree, Mark Pocan, Mike Quigley, Delia Ramirez, Emily Randall, Jamie Raskin, Luz Rivas, Deborah Ross, Raul Ruiz, Patrick Ryan, Andrea Salinas, Linda T. Sánchez, Mary Gay Scanlon, Jan Schakowsky, Bradley Scott Schneider, Hillary Scholten, Kim Schrier, David Scott, Brad Sherman, Mikie Sherrill, Lateefah Simon, Adam Smith, Eric Sorensen, Darren Soto, Melanie Stansbury, Greg Stanton, Haley Stevens, Marilyn Strickland, Suhas Subramanyam, Eric Swalwell, Emilia Sykes, Mark Takano, Shri Thanedar, Mike Thompson, Dina Titus, Rashida Tlaib, Jill Tokuda, Paul Tonko, Norma Torres, Ritchie Torres, Lori Trahan, Derek T. Tran, Lauren Underwood, Juan Vargas, Gabe Vasquez, Marc Veasey, Nydia M. Velázquez, Debbie Wasserman Schultz, George Whitesides, Nikema Williams, and Frederica Wilson, along with Senators Klobuchar, Warren, Padilla, Merkley, Blumenthal, Rosen, Shaheen, Schiff, Heinrich, Gillibrand, Coons, Cantwell, Van Hollen, Blunt Rochester, Sanders, Gallego, Booker, Smith, Baldwin, Wyden, Welch, Markey, Murphy, Kim, Whitehouse, Fetterman, Cortez Masto, Kelly, and Lujan.

    The EACH Act is endorsed by the following organizations: All* Above All, National Women’s Law Center, Center for Reproductive Rights, Planned Parenthood Federation of America, Center for American Progress, Guttmacher Institute, Power to Decide, National Asian Pacific American Women’s Forum, Brigid Alliance, National Network of Abortion Funds, Midwest Access Coalition, Equality California, Silver State Equality, OutCenter Southwest Michigan, Hadassah, The Women’s Zionist Organization of America, National Abortion Federation, Cobalt, Health Not Prisons Collective, National Family Planning & Reproductive Health Association, Families USA, UCSF Bixby Center for Global Reproductive Health, Center for Biological Diversity, Reproductive Freedom for All, CA LGBTQ Health and Human Services Network, Autistic Women & Nonbinary Network, Physicians for Reproductive Health, Justice and Joy National Collaborative, End Rape On Campus, National Partnership for Women & Families, National Council of Jewish Women, Silver State Hope Fund of Nevada, Above!, The National Association of Nurse Practitioners in Women’s Health (NPWH), National Council of Jewish Women, American Humanist Association, The American Society for Reproductive Medicine, Chicago Abortion Fund, Ibis Reproductive Health, SIECUS: Sex Ed for Social Change, American Atheists, National Health Law Program, National Latina Institute for Reproductive Justice, Advocates for Youth, Courage California, ProgressNow New Mexico, In Our Own Voice: National Black Women’s Reproductive Justice Agenda, EMAA Project, Black Women for Wellness Action Project, Colorado Organization for Latina Opportunity and Reproductive Rights (COLOR), Keystone Progress Education Fund, Wyoming Right To Choose, Safe Abortions For Everyone Maine, REPRO Rising Virginia, National Abortion Federation, National Family Planning & Reproductive Health Association (NFPRHA), National Partnership for Women & Families, Catholics for Choice, Colorado Organization for Latina Opportunity and Reproductive Rights (COLOR), Families USA, American Civil Liberties Union, Indivisible, Women’s Foundation of Florida, People Power United, Equality California, Abortion Forward, Black Women’s Health Imperative, SiX Action, Population Institute, URGE: Unite for Reproductive & Gender Equity, Pregnancy Justice, Just Solutions, UltraViolet Action, National Women’s Political Caucus, Equal Rights Advocates, Feminist Majority Foundation, Clearinghouse on Women’s Issues, American Association of University Women (AAUW), Interfaith Alliance, and Community Catalyst.

    Last month, in the wake of the third anniversary of the Dobbs decision, Congresswoman Pressley spent the week convening leaders and impacted families, renewing her calls for comprehensive legislation to protect abortion care, and uplifting the experiences of people impacted by cruel abortion bans and denials of essential medical care.

    Congresswoman Pressley has been outspoken in demanding justice for Adriana Smith, a 30-year-old pregnant mother who was declared brain dead in February and was forced to remain on life support due to Georgia’s abortion ban. Rep. Pressley delivered an impassioned floor speech in which she underscored that Adriana’s case is far too common in the unjust history of denying Black women their dignity, humanity, and right to bodily autonomy – and that GOP abortion bans such as Georgia’s deepen this pain and bar critical healthcare freedom. Last week, Rep. Pressley issued a statement after Adriana’s infant son Chance was delivered via emergency Cesarean section and Adriana was taken off life support.

    Throughout her time in Congress, Rep. Pressley has fought persistently to protect fundamental reproductive and sexual healthcare rights. 

    • On the first anniversary of the Dobbs decision, Rep. Pressley introduced the Abortion Justice Act, sweeping, intersectional legislation to address access to abortion care and put forth a comprehensive vision of a just America where abortion care is readily available—without stigma, shame or systemic barriers—for all who seek it, regardless of zip code, immigration status, income, or background.
    • Rep. Pressley is a lead co-sponsor of the Women’s Health Protection Act (WHPA), bicameral federal legislation to guarantee equal access to abortion care, everywhere. 
    • Rep. Pressley is also a lead co-sponsor of the EACH Act, bold legislation to repeal the Hyde Amendment and help guarantee abortion coverage—regardless of how a patient gets their health insurance.
    • Shortly before the Supreme Court’s overturning of Roe v. Wade, Rep. Pressley led a group of her Black women colleagues in writing to President Biden urging him to declare a public health emergency amid the unprecedented threats to abortion rights nationwide. 
    • Rep. Pressley condemned the Supreme Court’s leaked draft opinion to overturn Roe v. Wade., and implored the Senate to protect abortion rights and slammed the white supremacist roots of anti-abortion efforts.
    • In October 2024, Rep. Pressley issued a statement on Josseli Barnica, who died on Sept. 3, 2021 after being denied emergency abortion care in Texas as she suffered a miscarriage.
    • In September 2024, in a House Democratic Steering and Policy Committee Hearing, Rep. Pressley highlighted the harmful and deadly impact of abortion bans in America to date, and outlined in detail the shameful circumstances under which Amber Nicole Thurman died after being denied necessary abortion care in Georgia.
    • In June 2024, Rep. Pressley issued a statement on the Supreme Court’s ruling in Idaho v. United States; Moyle v. United States – the case about whether emergency abortion care is included under the Emergency Medical Treatment and Labor Act (EMTALA). 
    • In May 2024, Rep. Pressley issued a statement on a Louisiana bill that would classify medication abortion drugs mifepristone and misoprostol as controlled substances. 
    • In April 2024, at a House Oversight Committee hearing, Rep. Pressley played “Fact or Fiction” with Food and Drug Administration (FDA) Commissioner Robert Califf to emphasize the safety and efficacy of medication abortion drug mifepristone.
    • In August 2023, Rep. Pressley issued a statement on the Fifth Circuit Court decision in Alliance for Hippocratic Medicine v. FDA.
    • In July 2023, Rep. Pressley, alongside Senator Patty Murray (D-WA), Rep. Cori Bush (MO-01), and Senator Tammy Duckworth (D-IL), reintroduced the Reproductive Health Care Accessibility Act, legislation to help people with disabilities—who face discrimination and extra barriers when seeking care—get better access to reproductive healthcare and the informed care they need to control their own reproductive lives.
    • In July 2023, Rep. Pressley applauded the Food and Drug Administration’s (FDA) approval of over-the-counter birth control.
    • In May 2023, Rep. Pressley applauded the FDA Advisory Committee’s unanimous, 17-0 vote to recommend the approval of the first-ever application for over-the-counter birth control. She and Senator Murray also held a press conference applauding the decision and urging the FDA to approval over-the-counter birth control without delay.
    • In May 2023, Rep. Pressley, along with Representatives Alexandria Ocasio-Cortez (NY-14) and Ami Bera, MD (CA-06) and Senators Mazie Hirono (D-HI) and Catherine Cortez Masto (D-NV), reintroduced their bicameral Affordability is Access Act to ensure that once the FDA determines an over-the-counter birth control option to be safe, insurers fully cover over-the-counter birth control without any fees or out-of-pocket costs.
    • In April 2023, Rep. Pressley issued a statement condemning the Texas court ruling on mifepristone, and discussed the Texas case in a recent floor speech in which she affirmed medication abortion as routine medical care and access to mifepristone as essential. She later joined Governor Maura Healey, Senator Elizabth Warren (D-MA), and local leaders in announcing action to protect Mifepristone in Massachusetts.
    • In March 2023, Rep. Pressley, along with Senator Cory Booker (D-NJ) and Reps. Schakowsky, Lee, DeGette, Torres and Strickland, reintroduced the Abortion is Healthcare Everywhere Act harmful and discriminatory Helms Amendment and expand abortion access globally.
    • In March 2023, Rep. Pressley and Senator Hirono led their colleagues in reintroducing a bicameral congressional resolution honoring abortion providers and clinic staff. 
    • In March 2023, Rep. Pressley delivered a speech in which she discussed the pending court case in Texas, which aims to restrict access to medication abortion across the entire nation. In her remarks, Rep. Pressley affirmed medication abortion as routine medical care, and accessibility to the abortion pill mifepristone as essential.
    • In September 2021, Rep. Pressley issued a statement condemning the Supreme Court’s inaction on SB-8, Texas’ restrictive abortion law. Later that month, she participated in a House Oversight Committee hearing to examine the threat posed by abortion bans and underscored the urgency of the Senate passing the Women’s Health Protection Act. 
    • In April 2021, Rep. Pressley, along with Congresswomen Barbara Lee (CA-13), Diana DeGette (CO-01) and Jan Schakowsky (IL-09), led a group of 131 Democratic members in reintroducing the Equal Access to Abortion Coverage in Health Insurance Act or the EACH Act, which would repeal the Hyde Amendment and ensure that all people, regardless of income, insurance or zip code, can make personal reproductive healthcare decisions without interference from politicians. She re-Introduced the legislation In January 2023.
    • Rep. Pressley has led calls in Congress for the FDA to remove medically unnecessary restrictions on the medication abortion drug mifepristone, and applauded the FDA’s action in January 2023 to allow retail pharmacies to dispense abortion medication pills.
    • As Chair of the Pro-Choice Caucus’s Abortion Rights and Access Task Force, Congresswoman Pressley has led the fight to repeal the Hyde Amendments from annual Labor, Health and Human Services, Education and Related Agencies appropriations bills and in July 2020 published a Medium post on the importance of doing so. She applauded the removal of the Hyde Amendment in President Biden’s FY2022 budget.
    • In May 2020, she led more than 155 Members of Congress in calling on House Democratic leadership to ensure that any future COVID-19 relief packages rejected Republican efforts to use the public health crisis to diminish abortion access.
    • In August 2021, Rep. Pressley, Oversight Chairwoman Carolyn Maloney, and Pro-Choice Caucus Co-Chairs Reps. Diana DeGette and Barbara Lee led more than 70 of their House Democratic colleagues in introducing a resolution in support of equitable, science-based policies governing access to medication abortion care. 
    • In January 2023, Rep. Pressley introduced a resolution to condemn all forms of political violence in the U.S., regardless of its target or intent. That same day, she delivered a powerful speech on the House floor slamming Republicans’ harmful, misleading anti-abortion resolution.
    • In September 2022, Rep. Pressley hosted U.S. Department of Health and Human Services Secretary Xavier Becerra at the Codman Square Health Center in Dorchester for a convening on their work to address the Black maternal health crisis and the criminalization of abortion care in states across the nation following the harmful U.S. Supreme Court decision in Dobbs v. Jackson Women’s Health. 
    • In May 2019, she led more than 100 colleagues in introducing H.Con.Res.40, a resolution reaffirming the House of Representative’s support for Roe v. Wade.
    • In June 2019, Rep. Pressley introduced H.R. 3296, the Affordability is Access Act, to make oral contraception available without a prescription. 
    • In September 2016, as a member of the Boston City Council, Pressley championed a resolution calling on Congress and President Obama to repeal the Hyde Amendment and reinstate insurance coverage for abortion services.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Additional Funding Available for Zero-Emission School Buses

    Source: US State of New York

    overnor Kathy Hochul today announced that an additional $200 million is now available for zero-emission school buses through the third installment of funding from the historic $4.2 billion Clean Water, Clean Air, and Green Jobs Environmental Bond Act of 2022. The funding, distributed through the New York School Bus Incentive Program (NYSBIP), supports the purchase of electric buses, charging infrastructure, and fleet electrification planning as public schools transition to zero-emission technologies that improve air quality and reduce pollution in communities. This investment helps ensure that schoolchildren, drivers, and the communities where they live across New York benefit from clean, quiet, and healthy buses.

    “New York State is leaning into our Environmental Bond Act commitment to provide public schools with the funding and resources to make electric school buses more affordable,” Governor Hochul said. “We are leaving no school behind as we reduce pollution from vehicles so every student can benefit from clean air while building healthier, more sustainable communities for New Yorkers across the state.”

    Administered by the New York State Energy Research and Development Authority (NYSERDA), NYSBIP provides incentives to eligible school bus fleet operators, including school districts and school bus operators, that purchase zero-emission buses. It also offers charging infrastructure vouchers to help support the installation of Level 2 or DC fast chargers and provides funding to develop fleet electrification plans. This support helps ensure safer, more reliable transportation for students while giving schools the tools they need to make smart, cost-effective upgrades.

    The funding is available on a first-come, first-served basis with incentive amounts covering up to 100 percent of the incremental cost of a new or repowered electric school bus. This helps offset some or all of the difference in purchase price between zero-emission buses and comparable diesel or gasoline buses. All school bus fleet operators in New York State can also qualify for funding for fleet electrification plans, which provide a customized roadmap for electric bus adoption.

    New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “Today is the latest in a series of support that NYSERDA has offered to help make it easier for fleet operators to plan, navigate incentives for bus purchases and install vehicle charging infrastructure. We are excited to help more adopt zero-emission school buses through this additional Environmental Bond Act funding.”

    Program eligibility and rules for charging infrastructure funding are available online through the NYSBIP Implementation Manual. School bus fleet operators do not apply directly for school bus funding. Vehicle dealers apply the funding to the price of buses on their behalf after fleet operators have issued purchase orders. Fleet operators apply directly to NYSERDA for charging vouchers, which support adding charging infrastructure to their depots.

    Larger funding amounts are available for high-need school districts and school districts with significant portions of their population living in disadvantaged communities, as determined by the New York State Climate Justice Working Group criteria. While these districts are defined as priority districts through this program, all school districts can earn increased incentives by removing a gas or diesel bus from operation, purchasing wheelchair accessible buses, or purchasing buses with vehicle to grid capability. All school districts that complete fleet electrification plans also become eligible for higher funding amounts.

    New York State Department of Environmental Conservation Commissioner Amanda Lefton said, “The continued rollout of zero-emission school buses is critical to improving air quality and protecting the health of students and drivers in communities across the State. Investments through the Bond Act are making the transition to these greener vehicles more affordable for school districts. Under the leadership of Governor Hochul and in coordination with our state agency partners, DEC remains focused on administering Bond Act funding to support this important program and continue momentum to help address climate impacts, reduce harmful emissions, and improve quality of life for New York families.”

    New York State Department of Public Service CEO Rory M. Christian said, “Kudos to Governor Hochul and her team for encouraging further adoption and deployment of zero-emission school buses. This program will help continue our move toward a cleaner environment, which benefits all of us.”

    New York State Health Commissioner Dr. James McDonald said, “I thank Governor Hochul for her continued investment in the health of our children and commitment to building healthier communities across the state. Cleaner air means healthier kids, and reducing pollution around schools helps protect them from asthma and other respiratory problems.”

    Modernizing public school transportation with zero-emission buses is a priority for Governor Hochul to ensure the health of New York students. The FY25-26 New York State Budget continued to build momentum for school districts to put electric school buses on the road this year while providing districts with additional flexibility and time to complete their electrification plans and get hands-on experience with this new technology. The new independent range estimate requirement for bus manufacturers will also give school districts greater confidence that the buses will meet specific mileage and route conditions.

    Since NYSBIP’s launch, 88 school districts have applied for funds to purchase 529 buses, which includes 50 priority school districts accounting for 406 buses, and 400 districts are now working with NYSERDA to create Fleet Electrification Plans.

    The Bond Act requires that disadvantaged communities receive no less than 35 percent, with a goal of 40 percent, of the benefit of total Bond Act funds. In line with this goal, NYSERDA aims to ensure that at least 40 percent of the New York School Bus Incentive Program benefits disadvantaged communities. Buses domiciled in priority districts are eligible for higher incentive amounts in support of new zero-emission buses and charging infrastructure.

    New York State provides many resources for school bus fleet operators to transition their fleets to zero-emission buses, including an Electric School Bus Guidebook, a collection of practical user guides that highlight the benefits of electric school buses to make each part of transitioning a bus fleet easy to understand. This is a resource that can inform discussions with schools, New York State agencies, legislators, communities, manufacturers, bus dealers, and utilities to raise awareness on the Bond Act funding available to school districts and to help more communities understand the health and climate benefits that electric buses provide. Fleet operators seeking assistance should contact NYSERDA at [email protected].

    State Senator Kevin Parker said, “The additional $200 million in funding for zero-emission school buses is a bold investment in our children’s health, our environment, and the future of clean energy in New York. By accelerating the transition to electric school buses, we’re not only reducing harmful emissions but also improving air quality and public health in our communities, especially in neighborhoods that have long suffered from high pollution levels. This is a win for clean energy, for equity, and for every New Yorker.”

    State Senator Shelley B. Mayer said, “I am pleased that an additional $200 million is now available to school districts to support the transition to zero-emission school buses. New York has been a leader in the fight against climate change, and this funding, provided through the historic Clean Water, Clean Air, and Green Jobs Environmental Bond Act approved by New Yorkers, will further our efforts to reduce carbon emissions while alleviating financial burdens for New York schools. I would like to thank Governor Hochul and NYSERDA for their dedication to making New York a cleaner place, and I also extend my gratitude to the voters who approved this Bond Act.”

    State Senator Jeremy Cooney said, New York must remain committed to our environmental goals for a brighter future for New Yorkers, but we also realize that the state has a role to play in making this clean energy transition a reality. Today’s announcement is an important step in the right direction, and proof that we’ll continue to help our public schools, bolster charging infrastructure, and create a cleaner, healthier New York.”

    Assemblymember William Magnarelli said, “The Governor’s investment in zero-emission school buses shows the state’s continued commitment to climate leadership and advancing equitable access to clean transportation. The investment allows for a smooth transition to clean transportation and alleviates the anxiety of how districts will pay for the buses.”

    Assemblymember Michael R. Benedetto said, “I applaud Governor Hochul for making this a priority. This $200 million will help many school districts as they work to make the transition to electric buses. It’s a meaningful step toward cleaner air and healthier communities for our children.”

    Assemblymember Didi Barrett said, “The upfront cost of zero emission school buses has been a significant concern for all of the schools in my Assembly District, and the vast majority of districts across the State. This newly released funding from the 2022 Environmental Bond Act offers welcome financial support for our schools to electrify their bus fleets, bringing us closer to creating cleaner, safer and quieter commutes for our school children while helping us get closer to our ambitious climate goals.”

    Association of School Business Officials Executive Director Brian Cechnicki said, “Continued investments, including this funding, are critical for school districts to meet the state’s zero-emission bus mandate, and we are appreciative of NYSERDA for partnering with districts in this work.”

    New York School Bus Contractors Association President Tommy Smith said, “The New York School Bus Contractors Association is grateful that New York State continues to lead in financing the transition to electric school buses. We are excited about the advancements in battery technology that will further accelerate this initiative and help deliver cleaner, quieter, and more sustainable transportation for our students.”

    Mothers Out Front Distributed Senior Organizer Sarah Smiley said, “It is great news for students, parents, and school districts that more funding is now available for electric school buses, charging infrastructure, and fleet transition planning. We hope more districts leverage the New York School Bus Incentive Program funding so that our children have clean rides to school and we can reduce emissions for a healthier planet.”

    For more than fifty years, NYSERDA has been a trusted and objective resource for New Yorkers, taking on the critical role of energy planning and policy analysis, along with making investments that drive New York toward a more sustainable future. New York State is investing nearly $3 billion in electrifying its transportation sector and rapidly advancing measures that all new passenger cars and trucks sold be zero-emission. There are a range of initiatives to grow access to EVs and improve clean transit for all New Yorkers including EV Make Ready, EVolve NY, Charge Ready NY 2.0, the Drive Clean Rebate, the New York Truck Voucher Incentive Program, and the New York State’s climate agenda calls for an affordable and just transition to a clean energy economy that creates family-sustaining jobs, promotes economic growth through green investments, and directs a minimum of 35 percent of the benefits to disadvantaged communities. New York is advancing a suite of efforts to achieve an emissions-free economy by 2050, including in the energy, buildings, transportation, and waste sectors.

    MIL OSI USA News –

  • MIL-OSI Canada: Supporting Jasper through recovery: Premier Smith

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI: XA Investments Reports Record $227 billion in Managed Assets in its Second Quarter 2025 Market Update

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, July 22, 2025 (GLOBE NEWSWIRE) — XA Investments LLC (“XAI”), an alternative investment management and consulting firm, announced today that its Non-Listed Closed-End Funds Second Quarter 2025 Market Update shows accelerated growth in the market, a surge in fund launches, and a shift toward greater investor accessibility.

    “The non-listed CEF market continues to show record growth with 17% or 50 funds in the market reaching over $1 billion in assets under management and seven of those funds hitting the $1 billion milestone this quarter” stated Kimberly Flynn, the president of XAI. “As more assets continue to flow into the interval / tender offer fund market, we believe the market’s trajectory will remain positive, with significant opportunities for expansion throughout the rest of the year,” she added.

    The market update is a comprehensive research report detailing current market trends and industry highlights. The non-listed closed-end fund (CEF) market includes all interval and tender offer funds. The report highlights the removal of accredited investor suitability restrictions, divergence of positioning in the market, dominance of interval funds with a daily NAV and no suitability restrictions, increased performance coverage, and coverage of Specialty Structures.

    The non-listed CEF market reached a new peak with 288 interval and tender offer funds with a total of $196 billion in net assets and $227 billion in total managed assets, inclusive of leverage, as of June 30, 2025. The market includes 144 interval funds which comprise 59% of the total managed assets at $132.8 billion and 144 tender offer funds which comprise the other 41% with $93.9 billion in total managed assets.

    This is a significant change from previous quarters, as the number of interval funds has caught up to the total number of tender funds. In Q2 2025, 23 new funds entered the market, representing an increase of 13 funds compared to the 10 funds launched in Q2 2024. Market-wide net assets increased $15 billion in Q2 2025 from the prior quarter.

    In total, there are 150 unique fund sponsors in the interval and tender offer fund space, with 54 fund sponsors that have two or more interval and/or tender offer funds currently in the market. Additionally, there are 22 funds currently in the Securities and Exchange Commission registration process from fund sponsors looking to launch another fund.

    Displaying the growth of new funds in the market, the market share of the top 20 funds continues to decrease, falling to 59% in Q2 2025 from 60% in Q1 2025 and 65% in Q4 2024. Among the new funds launched in Q2 2025, there were nine new interval fund sponsors, including Corient, Coatue, and Select Equity Group.

    XAI also noted the emergence of Specialty Structures within the market. These funds are continuously offered, evergreen, semi-liquid private funds designed for accredited investors and qualified purchasers. They are exempt from the Investment Company Act of 1940 but still governed by federal securities laws. These evergreen funds provide access to alternative strategies while offering limited liquidity and reduced reporting obligations for the manager compared to registered funds.

    The current landscape of 13 Specialty Structures funds is dominated by large private equity firms including Blackstone, KKR, and Apollo. While Specialty Structures and interval / tender offer funds have some similarities, the fund structures differ in how they handle liquidity, investor eligibility, reporting obligations, and tax treatment.

    “Understanding Specialty Structures helps managers better align product design with strategy and audience, which is increasingly critical in a growing and competitive market” Flynn said.

    In this quarterly report, XAI covers the Q1 2025 net flows which are lagged by reporting cycles. In Q1 2025 funds had positive net flows, totaling over $13 billion, with 67% of funds reporting positive net flows. The majority of net flows in Q1 2025 went into daily NAV funds without suitability restrictions, attracting 58% of marketwide net flows.

    Two-thirds or 67% of net flows went into funds with no suitability restrictions, while 12% went into funds limited to accredited investors, and 21% went into funds limited to qualified clients. In aggregate, the top 20 largest interval/tender offer funds accounted for 50% of total net flows including many of the market leaders such as the Cliffwater Corporate Lending Fund, Partners Group Private Equity (Master Fund), LLC, and ACAP Strategic Fund.

    “The non-listed CEF market continues to grow with a total of 51 funds in the SEC registration process at the end of the first quarter,” Flynn noted. “While the SEC backlog decreased by seven funds from the end of Q1 2025 to the end of Q2 2025, we believe there will still be significant growth in the market this year. So far in 2025, there have been 46 new SEC filings, compared to 27 new filings from this point in 2024, representing a 70% increase in registrations” she added.

    Newly launched non-listed CEFs spent around six months in the SEC registration process, with the fund’s asset class continuing to be the main driver of time spent in the SEC review process. Tax-Free Bond funds were the quickest to launch, at 150 days on average spent in registration.

    At 53%, the majority of interval and tender offer funds do not have any suitability restrictions for investors imposed at the fund level — 27% of funds are available to accredited investors and 20% are only available to qualified clients. The amount of funds offered with no suitability restrictions is also predicted to increase with recent changes in a SEC Staff position. Following this change in position, many interval and tender offer funds have filed prospectus supplements removing accredited investor requirements.

    According to Flynn, “We expect more funds to reduce their suitability requirements in the near future and for many new funds to forgo accredited investor requirements.” Alternative funds without suitability restrictions also prove to be more accessible and have gathered more assets at $130.5 billion in managed assets or 57% of market-wide assets.

    For more information on the interval fund market and to read our full quarterly report on non-listed CEFs, please visit the CEF Market research page linked here and click ‘Subscribe’ for access to XA Investments’ online research portal and pricing information. In addition, please contact info@xainvestments.com or 888-903-3358 with questions.

    About XA Investments
    XA Investments LLC (“XAI”) is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund, respectively the XAI Octagon Floating Rate & Alternative Income Trust, the XAI Madison Equity Premium Income Fund, and the Octagon XAI CLO Income Fund. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. For more information, please visit www.xainvestments.com.

    Note: Net flows are reported in Form NPORT-P (“NPORTs”), which are filed quarterly with the SEC. NPORT filings are typically lagged 60 days from the end of the reporting period. The net flows data in this report is as of 3/31/2025 and represents the latest publicly available data.

    Sources: XA Investments; CEFData.com; SEC Filings.

    Notes: All information as of 6/30/2025 unless otherwise noted. Total managed assets is inclusive of leverage. The non-listed CEF market is subject to lags in reporting and limited data availability. Data such as asset levels, net flows, and performance are delayed up to 90 days after quarter-end and are not available for all funds. All data in the report is the most current available. Please contact our team if you have any questions about the non-listed CEF marketplace.

    The MIL Network –

  • MIL-OSI: XA Investments Reports Record $227 billion in Managed Assets in its Second Quarter 2025 Market Update

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, July 22, 2025 (GLOBE NEWSWIRE) — XA Investments LLC (“XAI”), an alternative investment management and consulting firm, announced today that its Non-Listed Closed-End Funds Second Quarter 2025 Market Update shows accelerated growth in the market, a surge in fund launches, and a shift toward greater investor accessibility.

    “The non-listed CEF market continues to show record growth with 17% or 50 funds in the market reaching over $1 billion in assets under management and seven of those funds hitting the $1 billion milestone this quarter” stated Kimberly Flynn, the president of XAI. “As more assets continue to flow into the interval / tender offer fund market, we believe the market’s trajectory will remain positive, with significant opportunities for expansion throughout the rest of the year,” she added.

    The market update is a comprehensive research report detailing current market trends and industry highlights. The non-listed closed-end fund (CEF) market includes all interval and tender offer funds. The report highlights the removal of accredited investor suitability restrictions, divergence of positioning in the market, dominance of interval funds with a daily NAV and no suitability restrictions, increased performance coverage, and coverage of Specialty Structures.

    The non-listed CEF market reached a new peak with 288 interval and tender offer funds with a total of $196 billion in net assets and $227 billion in total managed assets, inclusive of leverage, as of June 30, 2025. The market includes 144 interval funds which comprise 59% of the total managed assets at $132.8 billion and 144 tender offer funds which comprise the other 41% with $93.9 billion in total managed assets.

    This is a significant change from previous quarters, as the number of interval funds has caught up to the total number of tender funds. In Q2 2025, 23 new funds entered the market, representing an increase of 13 funds compared to the 10 funds launched in Q2 2024. Market-wide net assets increased $15 billion in Q2 2025 from the prior quarter.

    In total, there are 150 unique fund sponsors in the interval and tender offer fund space, with 54 fund sponsors that have two or more interval and/or tender offer funds currently in the market. Additionally, there are 22 funds currently in the Securities and Exchange Commission registration process from fund sponsors looking to launch another fund.

    Displaying the growth of new funds in the market, the market share of the top 20 funds continues to decrease, falling to 59% in Q2 2025 from 60% in Q1 2025 and 65% in Q4 2024. Among the new funds launched in Q2 2025, there were nine new interval fund sponsors, including Corient, Coatue, and Select Equity Group.

    XAI also noted the emergence of Specialty Structures within the market. These funds are continuously offered, evergreen, semi-liquid private funds designed for accredited investors and qualified purchasers. They are exempt from the Investment Company Act of 1940 but still governed by federal securities laws. These evergreen funds provide access to alternative strategies while offering limited liquidity and reduced reporting obligations for the manager compared to registered funds.

    The current landscape of 13 Specialty Structures funds is dominated by large private equity firms including Blackstone, KKR, and Apollo. While Specialty Structures and interval / tender offer funds have some similarities, the fund structures differ in how they handle liquidity, investor eligibility, reporting obligations, and tax treatment.

    “Understanding Specialty Structures helps managers better align product design with strategy and audience, which is increasingly critical in a growing and competitive market” Flynn said.

    In this quarterly report, XAI covers the Q1 2025 net flows which are lagged by reporting cycles. In Q1 2025 funds had positive net flows, totaling over $13 billion, with 67% of funds reporting positive net flows. The majority of net flows in Q1 2025 went into daily NAV funds without suitability restrictions, attracting 58% of marketwide net flows.

    Two-thirds or 67% of net flows went into funds with no suitability restrictions, while 12% went into funds limited to accredited investors, and 21% went into funds limited to qualified clients. In aggregate, the top 20 largest interval/tender offer funds accounted for 50% of total net flows including many of the market leaders such as the Cliffwater Corporate Lending Fund, Partners Group Private Equity (Master Fund), LLC, and ACAP Strategic Fund.

    “The non-listed CEF market continues to grow with a total of 51 funds in the SEC registration process at the end of the first quarter,” Flynn noted. “While the SEC backlog decreased by seven funds from the end of Q1 2025 to the end of Q2 2025, we believe there will still be significant growth in the market this year. So far in 2025, there have been 46 new SEC filings, compared to 27 new filings from this point in 2024, representing a 70% increase in registrations” she added.

    Newly launched non-listed CEFs spent around six months in the SEC registration process, with the fund’s asset class continuing to be the main driver of time spent in the SEC review process. Tax-Free Bond funds were the quickest to launch, at 150 days on average spent in registration.

    At 53%, the majority of interval and tender offer funds do not have any suitability restrictions for investors imposed at the fund level — 27% of funds are available to accredited investors and 20% are only available to qualified clients. The amount of funds offered with no suitability restrictions is also predicted to increase with recent changes in a SEC Staff position. Following this change in position, many interval and tender offer funds have filed prospectus supplements removing accredited investor requirements.

    According to Flynn, “We expect more funds to reduce their suitability requirements in the near future and for many new funds to forgo accredited investor requirements.” Alternative funds without suitability restrictions also prove to be more accessible and have gathered more assets at $130.5 billion in managed assets or 57% of market-wide assets.

    For more information on the interval fund market and to read our full quarterly report on non-listed CEFs, please visit the CEF Market research page linked here and click ‘Subscribe’ for access to XA Investments’ online research portal and pricing information. In addition, please contact info@xainvestments.com or 888-903-3358 with questions.

    About XA Investments
    XA Investments LLC (“XAI”) is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund, respectively the XAI Octagon Floating Rate & Alternative Income Trust, the XAI Madison Equity Premium Income Fund, and the Octagon XAI CLO Income Fund. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. For more information, please visit www.xainvestments.com.

    Note: Net flows are reported in Form NPORT-P (“NPORTs”), which are filed quarterly with the SEC. NPORT filings are typically lagged 60 days from the end of the reporting period. The net flows data in this report is as of 3/31/2025 and represents the latest publicly available data.

    Sources: XA Investments; CEFData.com; SEC Filings.

    Notes: All information as of 6/30/2025 unless otherwise noted. Total managed assets is inclusive of leverage. The non-listed CEF market is subject to lags in reporting and limited data availability. Data such as asset levels, net flows, and performance are delayed up to 90 days after quarter-end and are not available for all funds. All data in the report is the most current available. Please contact our team if you have any questions about the non-listed CEF marketplace.

    The MIL Network –

  • MIL-OSI: C&F Announces Expansion into Southwest Virginia

    Source: GlobeNewswire (MIL-OSI)

    TOANO, Va., July 22, 2025 (GLOBE NEWSWIRE) — C&F Financial Corporation (the Corporation) (NASDAQ: CFFI), the holding company for C&F Bank, is proud to announce a significant expansion of its commercial banking operations with a seasoned team that will establish its presence in Southwest Virginia. This strategic move positions C&F to serve key markets including Roanoke, Lynchburg, Danville, Martinsville, and Blacksburg.

    Leading this expansion is Matt Hubbard, who joins as Southwest Virginia Regional President. With over 15 years of commercial banking leadership experience, most recently at Atlantic Union Bank, (formerly American National Bank). Matt brings deep market knowledge and a strong commitment to community engagement. He is a graduate of Radford University and the William & Mary Mason School of Business.

    Joining Matt are two highly respected banking professionals:

    • Sally Siveroni, Commercial Credit Officer, began her banking career in 1986 and most recently served as Regional Credit Officer at Atlantic Union Bank. She is a graduate of James Madison University.
    • James Little, Commercial Banking Relationship Manager, has 17 years of experience in both retail and commercial banking. A fellow James Madison University graduate and VBA Bank School alumnus, James is also deeply involved in community initiatives.

    “We are thrilled to welcome Matt, Sally, and James to the C&F family,” said Tom Cherry, President and CEO of C&F Bank. “Their expertise and strong community ties will accelerate our growth in this promising region, where we already enjoy strong customer relationships.”

    With this expansion, C&F is now firmly positioned as one of the premier community banks serving the entire Commonwealth of Virginia—an achievement that underscores the company’s strategic vision and competitive strength.

    About C&F

    C&F Bank operates 31 banking offices and five commercial loan offices located throughout Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company provides automobile, marine and recreational vehicle loans through indirect lending programs offered primarily in the Mid-Atlantic, Midwest and Southern United States from its headquarters in Henrico, Virginia.

    Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission, are available on the Corporation’s website at http://www.cffc.com.

    Contact: Jason Long, CFO and Secretary
      (804) 843-2360

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7e0101d3-4ffc-436f-a151-f7f79df53bdd

    The MIL Network –

  • MIL-OSI USA: SBA Relief Still Available to Missouri Small Businesses, Private Nonprofits and Residents Affected by April Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses, private nonprofits, and residents in Missouri of the Aug. 22 deadline to apply for low interest federal disaster loans to offset physical damage caused by severe storms, tornadoes, straight-line winds, heavy rains, large hail, flooding and flash flooding occurring April 29.

    The disaster declaration covers the Missouri counties of Barry, Christian, Dade, Dallas, Greene, Jasper, Lawrence, McDonald, Newton, Polk, Stone and Webster as well as the Kansas county of Cherokee, and the Oklahoma county of Ottawa.

    Small businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s physical damage loans.”

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and private nonprofit (PNP) organizations impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    Interest rates can be as low as 4% for small businesses, 3.625% for nonprofits, and 2.813% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return physical damage applications is Aug. 22.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 1608, Department of Homeland Security Vehicular Terrorism Prevention and Mitigation Act of 2025

    Source: US Congressional Budget Office

    H.R. 1608 would require the Department of Homeland Security (DHS) to report to the Congress on its efforts to detect, prevent, and respond to acts of terrorism in which a vehicle is used as a weapon. The report would include an assessment of current and emerging threats, a review of high-risk locations, and recommendations for research and development. H.R. 1608 would require DHS to brief the Congress on the report’s findings and recommendations.

    Based on the costs of similar activities, CBO estimates that implementing H.R. 1608 would cost less than $500,000 over the 2025-2030 period. Any related spending would be subject to the availability of appropriated funds.

    The CBO staff contact for this estimate is Jeremy Crimm. The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

  • MIL-OSI USA: Washington Hunting Guide and Outfitting Company Enter Guilty Pleas to Lacey Act Crime

    Source: US State of California

    Branden Trager of Brush Prairie, Washington, and his guiding company Mayhem Services LLC pleaded guilty yesterday in federal court in Tacoma to violating the Lacey Act.

    In pleading guilty, Trager admitted he and Mayhem Services violated the Migratory Bird Treaty Act (MBTA) during a January 2023 hunting trip in western Washington and then transported the taken birds in violation of the Lacey Act. Enacted 125 years ago, the Lacey Act protects the nations wildlife resources by prohibiting wildlife violations that cross state or international borders. Trager also acknowledged that in 2022 he brought hunters into British Columbia, Canada, where he guided waterfowl hunting trips targeting the harlequin duck. He could not operate as a hunting guide under Canadian law.

    The harlequin duck (Histrionicus histrionicus) is a small sea duck with a habitat ranging from Alaska to California. Hunters prize the harlequin as a trophy and as part of a challenge to hunt 41 North American waterfowl species. Washington closed harlequin hunting for the 2022-2023 season, but limited hunting remained open in British Columbia.

    According to plea agreements filed in court, the recommended fines are $100,000 for Trager and $75,000 for Mayhem Services. The parties also agreed to recommend that the court order the defendants to make a public statement expressing contrition and emphasizing the importance of hunting, guiding, and wildlife regulations. Sentencing is scheduled for Oct. 16.

    According to a Joint Factual Statement filed in court, the MBTA prohibits, among other things, taking migratory birds using a motor vehicle; taking migratory birds by using a vehicle to concentrate, drive, or rally them; taking migratory birds in excess of daily bag limits; taking or crippling a migratory bird and not make reasonable efforts to retrieve it; and transporting taken migratory birds belonging to another individual without tagging them. Taking includes pursuing, hunting, shooting, wounding, killing, trapping, capturing, or collecting.

    The Lacey Act is the nation’s oldest wildlife trafficking law. It prohibits, among other things, transporting wildlife that had been illegally taken under federal, state, tribal or foreign law. The MBTA is a U.S. law that implemented treaties with Canada and other nations to ensure sustainable populations of migratory birds.

    Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division made the announcement.

    The U.S. Fish and Wildlife Service Office of Law Enforcement led the investigation along with Homeland Security Investigations, British Columbia Conservation Officer Service, and the Washington Department of Fish & Wildlife.

    Senior Trial Attorney Ryan Connors and Trial Attorney Sarah Brown of the Justice Department’s Environmental Crimes Section prosecuted the case with assistance from the U.S. Attorney’s Office for the Western District of Washington.

    MIL OSI USA News –

  • MIL-OSI Security: Washington Hunting Guide and Outfitting Company Enter Guilty Pleas to Lacey Act Crime

    Source: United States Attorneys General

    Branden Trager of Brush Prairie, Washington, and his guiding company Mayhem Services LLC pleaded guilty yesterday in federal court in Tacoma to violating the Lacey Act.

    In pleading guilty, Trager admitted he and Mayhem Services violated the Migratory Bird Treaty Act (MBTA) during a January 2023 hunting trip in western Washington and then transported the taken birds in violation of the Lacey Act. Enacted 125 years ago, the Lacey Act protects the nations wildlife resources by prohibiting wildlife violations that cross state or international borders. Trager also acknowledged that in 2022 he brought hunters into British Columbia, Canada, where he guided waterfowl hunting trips targeting the harlequin duck. He could not operate as a hunting guide under Canadian law.

    The harlequin duck (Histrionicus histrionicus) is a small sea duck with a habitat ranging from Alaska to California. Hunters prize the harlequin as a trophy and as part of a challenge to hunt 41 North American waterfowl species. Washington closed harlequin hunting for the 2022-2023 season, but limited hunting remained open in British Columbia.

    According to plea agreements filed in court, the recommended fines are $100,000 for Trager and $75,000 for Mayhem Services. The parties also agreed to recommend that the court order the defendants to make a public statement expressing contrition and emphasizing the importance of hunting, guiding, and wildlife regulations. Sentencing is scheduled for Oct. 16.

    According to a Joint Factual Statement filed in court, the MBTA prohibits, among other things, taking migratory birds using a motor vehicle; taking migratory birds by using a vehicle to concentrate, drive, or rally them; taking migratory birds in excess of daily bag limits; taking or crippling a migratory bird and not make reasonable efforts to retrieve it; and transporting taken migratory birds belonging to another individual without tagging them. Taking includes pursuing, hunting, shooting, wounding, killing, trapping, capturing, or collecting.

    The Lacey Act is the nation’s oldest wildlife trafficking law. It prohibits, among other things, transporting wildlife that had been illegally taken under federal, state, tribal or foreign law. The MBTA is a U.S. law that implemented treaties with Canada and other nations to ensure sustainable populations of migratory birds.

    Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division made the announcement.

    The U.S. Fish and Wildlife Service Office of Law Enforcement led the investigation along with Homeland Security Investigations, British Columbia Conservation Officer Service, and the Washington Department of Fish & Wildlife.

    Senior Trial Attorney Ryan Connors and Trial Attorney Sarah Brown of the Justice Department’s Environmental Crimes Section prosecuted the case with assistance from the U.S. Attorney’s Office for the Western District of Washington.

    MIL Security OSI –

  • MIL-OSI: SOITEC REPORTS FIRST QUARTER REVENUE OF FISCAL YEAR 2026

    Source: GlobeNewswire (MIL-OSI)

    SOITEC REPORTS FIRST QUARTER REVENUE OF FISCAL YEAR 2026

    • Q1’26 revenue: €92m, down 16% year-on-year on an organic1basis, slightly better than the guidance
    • Q1’26 year-on-year revenue development reflects, as expected, ongoing RF-SOI inventory correction among customers, a weak automotive market, the anticipated phase-out of first-generation Imager-SOI, and the strong momentum in Photonics-SOI
    • Q2’26 revenue is expected to grow around 50% versus Q1’26, on an organic basis

    Bernin (Grenoble), France, July 22nd, 2025 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced unaudited consolidated revenue of 92 million Euros for the first quarter of FY’26 (ended on June 29th, 2025), down 24% on a reported basis compared with 121 million Euros achieved in the first quarter of FY’25. This reflects a 16% decline on an organic basis, a negative currency impact of 5% and a negative scope effect2 of 3% related to the divestment of Dolphin Design’s businesses.

    Pierre Barnabé, Soitec’s CEO, commented: “Q1’26 revenue was slightly better than the guidance, down 16% year-on-year on an organic basis. This includes the phase-out of Imager-SOI. Artificial Intelligence continues to support strong growth in Edge & Cloud AI division, with traction both at the edge and in the cloud accelerating adoption of FD-SOI for Edge AI and Photonics-SOI for data centers. Conversely, the correction of RF-SOI inventories among our direct customers, and the ongoing weakness in the Automotive market continued to impact our revenue.

    Looking ahead, we expect Q2’26 revenue to grow around 50% versus Q1’26, on an organic basis. This reflects ongoing RF-SOI inventory correction in Mobile Communications, continued weakness in Automotive & Industrial, and strong growth in Edge & Cloud AI.

    In an uncertain and volatile environment, we remain focused on the factors within our control to prepare Soitec for the future. We are broadening our end-market exposure and customer base to diversify the company’s foundations. In parallel, we are accelerating the expansion of our product portfolio – across both SOI and compound semiconductors – to serve a wider range of applications. At the same time, we are building robust ecosystems that support the adoption of our products, with the ambition of establishing them as new industry standards.”

    First quarter FY’26 consolidated revenue

      Q1’26 Q1’25 Q1’26/Q1’25
             
             
    (Euros million)     change reported chg. at const. exch. rates & perimeter
             
    Mobile Communications 43 48 -12% -7%
    Automotive & Industrial 5 26 -82% -81%
    Edge & Cloud AI 44 46 -4% +13%
             
    Revenue 92 121 -24% -16%

    Mobile Communications

    Mobile Communications revenue reached 43 million Euros in Q1’26, down 7% year-on-year on an organic basis.

    After a strong seasonal tailwind in Q4’25, further correction was expected in RF-SOI customer inventories. As a result, sales of RF-SOI wafers decreased to a low level in Q1’26, below Q1’25. This mostly reflects a significant year-on-year decrease in 200-mm RF-SOI volumes sold. Sales of 300-mm RF-SOI wafers were higher than in Q1’25, driven by higher volumes, despite a slightly negative price / mix effect.

    Sales of POI (Piezoelectric-on-Insulator) wafers dedicated to RF filters were stable year-on-year, reflecting ongoing growth with key US customers and a temporary slowdown in Asia. POI is becoming the reference substrate for advanced Surface Acoustic Wave (SAW) filters, increasingly adopted by leading fabless globally.

    Sales of FD-SOI wafers, the only solution for fully integrated 5G mmWave system-on-chip, were significantly higher than in Q1’25. FD-SOI adoption is progressing with first design wins for Wi-Fi 7 SoCs, for premium Android smartphones.

    Automotive & Industrial

    In a persistently complicated automotive market, Automotive & Industrial revenue reached 5 million Euros in Q1’26, down 81% year-on-year on an organic basis.

    As expected, the Power-SOI inventory replenishment that took place at customer level in Q4’25, came at the expense of volumes in Q1’26, and will continue to impact Q2’26. Meanwhile, Soitec is accelerating the transition from 200-mm to 300-mm Power-SOI to address growing demand for Battery Management Systems.

    Automotive FD-SOI wafer sales were negligible in Q1’26, although the build-up of a solid ecosystem is supporting the strengthening of its adoption for analog/digital systems such as radars, microcontrollers and wireless connectivity.

    Regarding SmartSiCTM, the slower growth of the electric vehicle market combined with the longer qualification cycles confirms the delay in the production ramp-up, as already communicated.

    Edge & Cloud AI

    Edge & Cloud AI revenue reached 44 million Euros in Q1’26, up 13% on an organic basis compared to Q1’25 despite the discontinuation of the first generation of Imager-SOI wafers for 3D imaging applications, which recorded 25 million Dollars in revenue in Q1’25. On a reported basis, Edge & Cloud AI revenue went down 4% due to the scope effect of the divestment of Dolphin Design’s businesses combined with a negative currency impact.

    Soitec delivered another strong performance in Photonics-SOI in Q1’26, with sales significantly above Q1’25 levels. As AI computing power expands, driving demand for faster and more efficient data centers, Photonics-SOI stands out as the optimal solution for high-speed, high-bandwidth optical links, whether for pluggable transceivers or Co-Packaged Optics (CPOs). Soitec is capitalizing on strong Cloud infrastructure investments from Big Tech and AI players and is accelerating its Photonics-SOI roadmap with AI leaders.

    FD-SOI sales were also above Q1’25 levels. Thanks to its benefits in power efficiency, performance, thermal management, and reliability, FD-SOI is a key enabler of AI-driven IoT applications across consumer, healthcare, and industrial markets.

    Q2’26 outlook

    Q2’26 revenue is expected to grow around 50% versus Q1’26, on an organic basis. The impact from the phasing out of Imager-SOI will be less pronounced than in Q1’26, as Imager-SOI revenue amounted to approximately 7 million Dollars in Q2’25.

    Excluding Imager-SOI, Edge & Cloud AI is expected to maintain solid momentum and should be slightly up vs. Q1’26. Mobile Communications revenue will remain low, despite nearly doubling from Q1’26, as customers continue to work through excess RF-SOI inventory. As in Q1’26, Automotive & Industrial revenue in Q2’26 is expected to decline sharply versus Q2’25.

    Projected FY’26 Capex cash-out is confirmed around 150 million Euros, down from 230 million Euros in FY’25.

    Key events of Q1’26

    Soitec has successfully issued a new 200 million Euros Schuldschein loan

    This is a 200 million Euros Schuldschein loan offering a floating rate coupon with an average maturity of 4.1 years, which was subscribed by high quality European investors.
    The offering is structured in tranches of 3, 4, 5 & 7 years, with 72% of the transaction on the 4-year and 5-year tenors. The 100 million Euros initially planned were significantly oversubscribed, reflecting investor interest and confidence in Soitec’s financial profile and strategy, despite a volatile environment.
    The proceeds of the new Schuldschein loan will be used to partially refinance the 325 million Euros convertible bonds maturing in October 2025 and for general corporate purposes. Through this transaction, Soitec is actively managing its debt profile and extending its debt maturity.

    Soitec and PSMC collaborate on ultra-thin TLT technology for nm-scale 3D stacking

    On June 3rd, 2025, Soitec announced a strategic collaboration with Powerchip Semiconductor Manufacturing Corporation (PSMC). Under the collaboration, Soitec will supply PSMC 300mm substrates incorporating a release layer, Transistor Layer Transfer (TLT) ready, to support a new demonstration of advanced 3D chip stacking at the wafer level. This marks the first public announcement of Soitec’s TLT technology. The technology is an enabler for next-generation semiconductor designs that allow for more powerful, compact and energy-efficient chips – with potential applications ranging from smartphones, tablets and AI devices to autonomous driving systems.

    CEA-Leti and Soitec announce strategic partnership to leverage FD-SOI for enhanced security of integrated circuits

    On June 18th, 2025, CEA-Leti and Soitec announced a strategic partnership to enhance the cybersecurity of integrated circuits (ICs) through the innovative use of fully depleted silicon-on-insulator (FD-SOI) technologies. This collaboration aims to position FD-SOI as a foundational platform for secure electronics by leveraging and extending its inherent resistance to physical attacks. At the heart of the initiative is a joint effort to experimentally validate and augment the security benefits of FD-SOI—from the substrate level up to circuit design. The project aims to deliver concrete data, practical demonstrations, and roadmap guidance to meet the surging cybersecurity demands in critical markets such as automotive, industrial IoT, and secure infrastructure

    # # #

    Analysts conference call to be held in English on Wednesday 23rdJuly at 8:00 am CET.

    To listen to this conference call, the audiocast is available live and in replay at the following address: https://channel.royalcast.com/soitec/#!/soitec/20250723_1

    # # #

    Agenda

    Q2’26 revenue and H1’26 results are due to be published on November 19th, 2025, after market close.

    # # #

    Disclaimer

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

    The Company’s business operations and financial position are described in the Company’s Universal Registration Document (which notably includes the Annual Financial Report) which was filed on June 11th, 2025, with the French stock market authority (Autorité des Marchés Financiers, or AMF) under number D.25-0439. The French version of the 2024-2025 Universal Registration Document, together with English courtesy translation for information purposes of this document, are available for consultation on the Company’s website (www.soitec.com), in the section Company – Investors – Financial Reports.

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

    This document contains summary information and should be read in conjunction with the Universal Registration Document.

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

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

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

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

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

    # # #

    About Soitec

    Soitec (Euronext – Tech Leaders), a world leader in innovative semiconductor materials, has been developing cutting-edge products delivering both technological performance and energy efficiency for over 30 years. From its global headquarters in France, Soitec is expanding internationally with its unique solutions, and generated sales of 0.9 billion Euros in fiscal year 2024-2025. Soitec occupies a key position in the semiconductor value chain, serving three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI. The company relies on the talent and diversity of more than 2,200 employees, representing 50 different nationalities, working at its sites in Europe, the United States and Asia. Nearly 4,300 patents have been registered by Soitec.

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

    For more information: visit our website and follow us on LinkedIn and X

    # # #

    Media Relations: media@soitec.com

    Investor Relations: investors@soitec.com

    # # #

    Consolidated revenue per quarter

    Quarterly revenue Q1’25 Q2’25 Q3’25 Q4’25 Q1’26  
    (Euros millions)            
    Mobile Communications 48   124   154   220 43    
    Automotive & Industrial 26 33 25 45 5  
    Edge & Cloud AI 46 61 47 63 44  
                 
    Revenue 121   217   226   327 92    
    Change in quarterly revenue Q1’26/Q1’25
    (vs. previous year) Reported
    change    		 Organic change1
         
    Mobile Communications -12% -7%
    Automotive & Industrial -82% -81%
    Edge & Cloud AI -4% +13%
         
    Revenue -24% -16%

    1         At constant exchange rates and comparable scope of consolidation:

    • in Q1’26 there is a negative scope effect related to the divestment of Dolphin Design’s mixed signal IP activities (completed on October 31st, 2024) and the divestment of Dolphin Design’s ASIC activities (completed on December 30th, 2024).

    1 At constant exchange rates and perimeter

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

    Attachment

    The MIL Network –

  • MIL-OSI: Guaranteed Approval Loans for Bad Credit with No Credit Check from 1F Cash Advance in 2025

    Source: GlobeNewswire (MIL-OSI)

    BOULDER, Colo., July 22, 2025 (GLOBE NEWSWIRE) — In a significant move to support borrowers with poor or no credit history, 1F Cash Advance has rolled out a new line of guaranteed approval payday loans for Americans facing financial hardships in 2025. With loan amounts ranging from $100 to $1,000, these flexible online loan solutions are designed to offer speed, security, and accessibility, even for people with poor credit or no credit score.

    A Fast, Flexible Lifeline for Bad Credit Borrowers

    Traditional lenders often reject applicants with low credit scores, but 1F Cash Advance offers an alternative by providing access to no credit check loans with guaranteed approval. Borrowers can apply online in minutes, receive an instant decision, and get funds deposited into their bank accounts as soon as the same day.

    “Millions of Americans are just one emergency away from a financial crisis. We built our platform to offer fast, stress-free access to cash, no matter your credit score,” said Adrienne Bailey, Public Relations Specialist for 1F Cash Advance.

    What’s a Payday Loan?

    Payday loans are a short-term way to get up to $1,000 in difficult financial circumstances quickly. Whether it’s an unexpected bill, a car repair, or another emergency expense, these loans are designed to help you cover urgent needs. They’re typically meant to be repaid in full, along with fees and interest, by your next payday, usually within 14 to 31 days.

    Payday loans are especially helpful for people who may not qualify for traditional bank loans due to factors such as a low credit score, inconsistent income, or unemployment. The application process is typically quick and easy, often requiring only proof of income, an active bank account, and a few other basic documents.

    APPLY FOR NO CREDIT CHECK PAYDAY LOANS

    How Do Payday Loans Work?

    Payday loans are straightforward to get. You fill out an application, and if you meet the requirements, the money is deposited directly into your bank account, often the same day.

    Unlike traditional loans, which often involve a mountain of paperwork and require waiting for days, payday loans are much more streamlined. The entire process is typically handled online, from application to approval and receiving the funds. Automated systems speed things up by checking your eligibility in real time, so you don’t have to wait in line or deal with unnecessary steps.

    Once you’re approved, you’ll receive the details of the loan agreement, including repayment terms and fees. You can review everything and decide whether to accept the offer—no pressure.

    Who Can Apply?

    Just like with any loan, there are a few basic requirements you’ll need to meet before you can get approved for a payday loan. Most people qualify without much difficulty. Here’s what lenders typically look for:

    • You need to be a U.S. citizen or permanent resident
    • You must be at least 18 years old
    • You should have a reliable source of income
    • A bank account to deposit the funds into
    • And a phone number or email so the lender can contact you

    Because these requirements are so straightforward, payday loans tend to have a high approval rate. Most people, even with bad credit, find that they meet all the criteria without needing to jump through hoops, making it a quick and accessible option when money is tight.

    Why Borrowers with Bad Credit Face Challenges While Getting Loans

    Borrowers with poor credit often encounter difficulties when seeking loans due to several important factors:

    Increased Lending Risk

    Credit scores serve as a tool for lenders to assess the likelihood that a borrower will repay a loan. A low credit score indicates past financial struggles, such as missed payments or high debt, making lenders hesitant to lend money.

    Costlier Loan Terms

    Because these borrowers are considered riskier, lenders typically offset this by charging higher interest rates and additional fees. This increases the overall cost of borrowing and can make loans less affordable.

    Fewer Lending Opportunities

    Traditional financial institutions usually set minimum credit standards. Borrowers with bad credit may find themselves rejected or limited to only a small selection of loan products.

    Tougher Conditions

    Loans approved for those with poor credit often come with stricter conditions, such as shorter repayment terms, higher fees, or the need for collateral, which can be difficult to provide.

    Discouragement and Hesitation

    Experiencing loan denials or steep borrowing conditions can reduce a borrower’s confidence, causing some to avoid applying for loans altogether.

    Risk of Predatory Lending

    In their search for financing, some borrowers with bad credit may turn to high-risk lenders offering loans with exorbitant interest rates and unfair terms, potentially trapping them in a cycle of debt.

    CHECK OUT NO CREDIT CHECK PAYDAY LOAN OPTIONS

    What Makes 1F Cash Advance Stand Out?

    In 2025, more people are looking for fast, no-hassle loan options, especially those who don’t qualify with traditional banks. That’s where 1F Cash Advance comes in. Here’s what sets it apart:

    • Guaranteed approval for most applicants, regardless of credit score
    • No hard credit checks during the application process
    • Loan amounts from $100 to $1,000
    • 1-hour payday loans available
    • Same-day or next-business-day funding
    • Simple and secure online form that takes 5 minutes to complete

    This service is ideal for anyone facing unexpected expenses, such as car repairs, medical bills, or rent, and doesn’t want to deal with paperwork, rejections, or long waits.

    Smarter Ways to Handle Financial Emergencies

    Here are some smarter, more manageable ways to handle those money problems:

    1. Figure Out What You’re Dealing With

    Before you jump into problem-solving mode, take a moment to consider details. Ask yourself:

    • How much money do I need?
    • Is this urgent, or do I have a little time?
    • Can I split this cost up or delay part of it?

    Getting clear on what’s going on can help you avoid rash decisions and unnecessary stress.

    2. Use Your Emergency Savings (If You’ve Got It)

    If you’ve managed to stash away even a little emergency fund, now’s the time to dip into it. That money is there for a reason, to help you stay out of deeper debt when life throws you a financial punch.

    3. Consider a Short-Term Loan from a Trusted Source

    If savings won’t cover it, borrowing might make sense, but not from just anywhere. That’s where 1F Cash Advance can help:

    • No credit check is required to explore available options.
    • Applications are reviewed quickly, often in minutes.
    • Funds can be available as soon as the same day or by the next business day.
    • Rates, terms, and fees are clearly presented upfront—no hidden surprises.


    4. Reach Out Before Things Spiral

    If the emergency involves rent, bills, or services, contact the relevant parties. Contact your landlord to see if you can split the rent. Ask your utility company about payment options. Check out local organizations that help with food, transportation, or temporary expenses. You might be surprised at how many options are available, especially if you ask early.

    5. Be Careful with Payday Loans

    The trick is knowing which ones are fair and which ones are traps. Avoid lenders who charge crazy interest rates or try to keep you stuck in a cycle of borrowing. Take time to read reviews and compare offers side by side — these extra steps can protect you from shady deals.

    6. Plan for Next Time

    Once the emergency is handled, take a moment to regroup. Setting aside $5 or $10 a week helps build a small buffer for the next unexpected expense. It doesn’t have to be big, just consistent.

    How Are Payday Loans Different from Traditional Loans?

    Payday loans and conventional (or traditional) loans both offer ways to borrow money, but they’re designed for very different situations and come with some key differences. Here’s how they stack up:

    1. Loan Amounts. Payday loans are meant for smaller, short-term needs, typically ranging from $100 to $1,000. Conventional loans can be significantly larger, sometimes reaching tens or even hundreds of thousands of dollars, depending on their intended use (such as buying a home or car).
    2. Repayment Terms. With a payday loan, you’re expected to repay the full amount, plus interest and fees, by your next paycheck—usually within a couple of weeks. Traditional loans give you much more time to repay. Payments are spread out over several months or even years, depending on the type of loan.
    3. Interest and Fees. Payday loans typically carry higher interest rates and fees. Since they’re short-term and don’t rely heavily on credit history, lenders take on more risk and charge accordingly. Conventional loans generally offer lower interest rates, especially if you have good credit.
    4. Credit Requirements. Most payday lenders either skip credit checks or perform a soft pull, meaning your credit score won’t be affected. Traditional lenders, like banks or credit unions, typically require a full credit check, and your approval depends heavily on your credit score, credit history, and sometimes even collateral.
    5. Approval Speed. Payday loans are focused on speed. Many are approved and funded within hours. Conventional loans often take several days or even weeks due to paperwork, underwriting, and approval processes.
    6. Eligibility Criteria. Payday loans are designed for people who may not have a perfect credit history or any credit history at all. They’re more accessible if you’re working with limited financial options. Traditional loans are more likely to be extended to borrowers with strong credit profiles, stable income, and a solid financial history.


    What They’re Used For

    People usually turn to payday loans when they need quick cash for:

    • Medical bills or prescription expenses
    • Emergency car or home repairs
    • Utility bills to avoid service shut-offs
    • Rent payments to avoid eviction
    • Unexpected travel expenses
    • Everyday necessities when short on funds
    • Covering gaps between paychecks

    Payday loans can be an option not only for those with jobs but also for students, retirees, single parents, or even unemployed individuals. The key requirement is having proof of a stable income source—this could be wages, benefits, pensions, or regular assistance payments.

    Conventional loans, on the other hand, are typically used for bigger financial needs, such as:

    • Buying a home
    • Financing a vehicle
    • Covering education expenses
    • Consolidating debts
    • Starting or expanding a business

    To wrap up, payday loans are fast, simple, and accessible, but they’re also more expensive. Conventional loans take longer to process and require stronger credit profiles, but usually come with better terms. The right choice depends on your FICO score, how urgently you need the money, and what you plan to use it for.

    The Pros and Cons of Payday Loans

    Payday loans can offer a quick financial fix when you’re in a pinch, but they also come with serious risks. Before applying, it’s essential to weigh both sides. Here’s a clear look at the upsides and downsides of payday loans:

    Upsides of Payday Loans

    1. Fast Access to Cash. One of the biggest perks of payday loans is speed. Many lenders offer same-day or next-day funding, which can be a lifesaver if you’re facing an urgent bill or emergency expense.
    2. No Credit Check Required. If your credit score isn’t great or you don’t have a credit history at all, payday lenders are often more forgiving. Most don’t require a hard credit check, which makes these loans accessible to a wider range of borrowers.
    3. Simple Qualifications. You don’t need perfect financials to qualify. Typically, the required documentation includes proof of income, a valid ID, a bank account, and a means of contact (such as a phone number or email address).
    4. Convenient Application Process. You can apply online or in person, and most applications take only a few minutes to complete. If you’d rather avoid the hassle of going to a bank, this is a flexible and convenient option.


    Downsides of Payday Loans

    1. The Debt Trap Risk. Because payday loans come with high fees and short repayment terms, many borrowers struggle to pay them back on time. This can lead to a dangerous cycle where you take out another loan just to cover the first, and the debt continues to grow.
    2. Extremely High Interest Rates. Payday loans are among the most expensive forms of borrowing, with APR rates typically ranging from 300% to 400%. Even a small loan can become very costly if you can’t repay it quickly.


    FAQs

    Can I Still Get a Payday Loan with Bad Credit?

    Yes, you can. Many payday lenders don’t even check your credit the traditional way. So, having bad credit or no credit at all usually won’t stop you from getting approved. Instead, they’ll look at your income and ability to repay the loan.

    What Happens If I Can’t Repay a Payday Loan?

    If you miss your repayment, things can get complicated. Lenders may charge late fees or other penalties, and in some cases, this could harm your credit score, especially if the loan is sent to collections. That can make it harder to borrow in the future. Some lenders may also attempt alternative methods to recover the money, such as multiple attempts to withdraw funds from your bank account. Contact your lender immediately if you anticipate difficulty repaying. They can offer options.

    Will Applying for a Payday Loan Hurt My Credit Score?

    Not when you apply through 1F Cash Advance. We only perform a soft credit check, which means it won’t show up on your credit report or affect your FICO score. Your credit score is only at risk if you default on the loan and it goes to collections.

    How Fast Can I Get a Payday Loan?

    Very fast! Most payday lenders aim to provide you with the money on the same day or by the next business day. You can often apply online in just a few minutes, and if approved, funds could be deposited into your bank account within hours.

    Media Contact Info

    Mailing Address

    1F Cash Advance, LLC

    1942 Broadway St., STE 314C Boulder, CO 80302

    Main Office Location

    2770 Canyon Blvd, Boulder, CO 80302

    Website: https://1firstcashadvance.org

    E-mail: info@1firstcashadvance.org

    Phone: (720) 428-2247

    Social Media:

    Disclaimer & Affiliate Disclosure

    This article is intended for informational and commercial purposes only. It’s not financial advice, legal guidance, or an official endorsement of any specific loan provider. While we strive to keep information accurate and up to date, we can’t guarantee its completeness or reliability. Please conduct your own research and, if necessary, consult with a licensed financial advisor or legal expert before making any financial decisions.

    The loan products mentioned here, including payday loans and other financial services, may not be suitable for everyone. Terms, rates, and eligibility vary by lender and location. Approval is never guaranteed, and every lender has its own criteria, including income verification, ID checks, and compliance with state or federal regulations.

    Some links in this content may be affiliate links. That means if you click and take action (such as applying for a loan), we may earn a small commission at no additional cost to you. These commissions help support our content, but they don’t affect our editorial integrity or influence what we write. We aim to provide honest, helpful, and unbiased information at all times.

    By reading or using this content, you agree that we, including the publisher, content creator, partners, and affiliates, aren’t liable for any losses, inaccuracies, or problems that may arise from the information provided here. This includes issues such as loan denials, outdated terms, or disputes with lenders.

    Mentions of companies like “1F Cash Advance” are for informational comparison only. We do not have a formal relationship or endorsement agreement with any specific company unless stated otherwise. For questions about a specific service or offer, please contact the company directly.

    All trademarks and company names belong to their respective owners.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/679bdf0b-cc82-4b57-80b4-72f1e4722a20

    https://www.globenewswire.com/NewsRoom/AttachmentNg/542fe772-e81a-47a9-85dd-48d5ee5e48f5

    The MIL Network –