Dow crashes 500 points, Nasdaq down 2% after Fed cuts rates by 0.25% as expectedAKRON, Ohio , Dec. 10, 2024 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced that it will hold its annual general meeting of shareholders at 428 South Seiberling Street, Akron, Ohio , US on January 7, 2025 at 10:00 a.m., New York time. Holders of record of ordinary shares and Class A preference shares of the Company at the close of business on December 20, 2024 , New York time (the "Record Date") are entitled to receive notice of, and to attend and vote at, the annual general meeting or any adjournment thereof. Holders of the Company's American Depositary Shares ("ADSs") who wish to exercise their voting rights for the underlying ordinary shares must act through the depositary of the Company's ADS program, Deutsche Bank Trust Company Americas. The notice of the annual general meeting, which sets forth the resolutions to be submitted to shareholder approval at the annual general meeting is available on the Investor Relations section of the Company's website at https://ir.btcm.group . The Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission (the "SEC") on May 15, 2024 . Shareholders may obtain a copy of the Company's annual report, free of charge, from the Company's website at https://ir.btcm.group and on the SEC's website at www.sec.gov , or by contacting BIT Mining Limited at 428 South Seiberling Street, Akron, Ohio , US, attention: Victor He , telephone: +1 (330) 676-2680, email: ir@btcm.group . About BIT Mining Limited BIT Mining (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company with operations in cryptocurrency mining, data center operation and mining machine manufacturing. The Company is strategically creating long-term value across the industry with its cryptocurrency ecosystem. Anchored by its cost-efficient data centers that strengthen its profitability with steady cash flow, the Company also conducts self-mining operations that enhance its marketplace resilience by leveraging self-developed and purchased mining machines to seamlessly adapt to dynamic cryptocurrency pricing. The Company also owns 7-nanometer BTC chips and has strong capabilities in the development of LTC/ DOGE miners and ETC miners. Safe Harbor Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. For more information: BIT Mining Limited ir@btcm.group ir.btcm.group www.btcm.group Piacente Financial Communications Victor He Tel: +1 (330) 676-2680 Email: BITMining@thepiacentegroup.com View original content: https://www.prnewswire.com/news-releases/bit-mining-limited-to-hold-annual-general-meeting-on-january-7-2025-302327447.html SOURCE BIT Mining Limited
Qatar Charity (QC) was a humanitarian partner for Qatar Sports For All Federation (QSFA)’s Theeb Ultra Trail Marathon 2024, a desert race that took place in Zekreet on November 22 and 23. Through this partnership, QC enabled participants and attendees of the race to contribute to its ‘Alaqraboon’ initiative, which focuses on aiding debtors, widows and divorcees, among others, within Qatar. The initiative aims to foster solidarity and social responsibility by collaborating with various sectors in the country, including government and private institutions, companies and initiatives. In collaboration with Seashore Group and the race organisers, QC placed recycling bins around the racecourse to collect water bottles, reflecting its commitment to environmental sustainability in sports, aligning with the Qatar National Vision 2030. Ali Ibrahem AlGreeb, director of the Resource Development Department at QC, emphasised that this co-operation reflects the organisation’s commitment to promoting values of giving, solidarity and social responsibility. He noted that QC aims to involve both individuals and organisations in charitable and humanitarian work, creating a positive impact on the community. AlGreeb expressed his hope that this partnership will support and assist humanitarian cases under ‘Alaqraboon’ within Qatar. He also emphasised the importance of leveraging sports and community events to raise environmental awareness, in co-ordination with relevant organisations. The fifth edition of the Theeb Ultra Trail Marathon saw participation from running and cycling enthusiasts in the region, a statement added. Related Story Qatar Foundation edutainment show to host special event celebrating Qatar National Day Three days of world-class racing and entertainmentGlobal stocks end mostly up with DAX crossing 20,000 for 1st time
CHICAGO--(BUSINESS WIRE)--Dec 10, 2024-- Neal Gerber Eisenberg (NGE) today announced plans to move to The Bell (225 West Randolph Street), a newly renovated Chicago landmark, from its current office at Two North Lasalle Street in May 2025. The new location, recently rebranded The Bell in a nod to its origins as the Illinois Bell Building, opened in 1966 and was designated a Chicago landmark in 2021. The firm will occupy floors 27 through 29 of the historic tower. Attorneys and staff will enjoy new offices designed to maximize natural light, featuring sit-stand desks in each office and workstation, and interactive technologies in conference rooms and collaborative workspaces. The firm will also have access to three floors of building amenities. CBRE represented NGE in the lease negotiations with The Onni Group, the building owner. Clune Construction Company is the general contractor for the office space construction, with Gensler heading the effort to design the new space. Novo Sustainability is advising the firm on sustainability and environmental impact. "As one of the largest single-office law firms in the country, we believe in downtown Chicago—in its diversity, its history, and the community we've been proud to be a part of for nearly 40 years," said Bobby Gerber, Managing Partner of NGE. "Our move to this historic building underscores our commitment to the city, and we look forward to calling it our home for many years to come." “NGE’s first relocation in over 30 years presented a significant opportunity to deliver new office space that excites and energizes the firm’s clients, attorneys and staff,” added Todd Lippman, Vice Chairman, CBRE. “NGE partnered with CBRE to outline the detailed priorities for their new space and undertook a careful selection process to identify the location in line with NGE's current needs and plans for future growth. Ultimately, The Bell's best-in-class amenities and optimal location in the heart of Chicago align with NGE's goal of providing premium office space in an innovative work setting.” A Positive Impact on Chicago In developing their new space, NGE ensured it was making a positive impact on Chicago. NGE required contractors to demonstrate how they give back to the city and actively foster a diverse workforce. “During the preconstruction phase, NGE COO Sonia Menon challenged us to move beyond conventional hiring practices, encouraging meaningful conversations with trade partners about their commitments to social, environmental, and governance principles,” said Andy Holub, Senior Vice President, Clune Construction Company. “This approach enabled us to build a diverse bidders list and prioritize companies based on partnerships with minority and women owned business enterprises, charitable initiatives, and efforts to provide a diverse on-site workforce. These discussions often served as tiebreakers in the selection process, rewarding trade partners whose values aligned with our teams. With the support of Gensler, CBRE, and NGE, we demonstrated the power of collaboration in achieving both project success and societal impact. Inspired by this process, we plan to incorporate these practices into future projects, making it easier to identify trade partners who share our core values while advancing equity, sustainability, and community engagement in the industry.” Championing a Greener Future NGE has long prioritized sustainability as part of its commitment to being a responsible organization in Chicago and around the world. This commitment was reaffirmed throughout the new office buildout and in the firm’s purchasing decisions. The firm hopes to achieve the highest possible LEED certification and Zero Carbon certification for its new space. In 2023, NGE was one of four firms globally to receive a top rating from the All Legal Industry Sustainability Standard assessment. "At Neal Gerber Eisenberg, sustainability is not just a goal—it is a fundamental value that influences every decision we make," said Sonia Menon, Chief Operating Officer for NGE and Chair of the firm’s Sustainability Committee. "Our new office at The Bell is a testament to this commitment. From implementing energy-efficient systems to reusing existing furniture and selecting zero-carbon-based materials, every aspect of our new space is designed to significantly reduce our carbon footprint and promote a healthier, more sustainable future. We are proud to set new standards for sustainability in the legal industry and look forward to expanding these initiatives at The Bell." NGE’s new office will feature materials and furniture from renowned sustainable brands such as Haworth, Andreu World, and Kielhauer, chosen for their focus on sustainability, innovative design, and lower environmental impact. The Bell’s redevelopment includes a state-of-the-art Variable Refrigerant Flow (VRF) HVAC system for enhanced energy efficiency and superior climate control. Combined with double-paned argon-gas windows, this significantly reduces energy consumption. Additionally, Dedicated Outdoor Air Systems (DOAS) units with energy recovery wheels ensure a continuous supply of fresh air while minimizing energy loss. “NGE’s pursuit of LEED Platinum Certification and Zero Carbon Certification underscores their dedication to environmental stewardship and sustainability. With a strong focus on energy and water efficiency, as well as embodied carbon reduction through materials reuse and the prioritization of locally sourced products, this project will set a new standard for all professional services firms—and especially the legal industry,” said Laci Hoskins, founder and principal, Novo Sustainability. “Achieving these milestone certifications will inspire other organizations by proving what is possible when a firm truly integrates sustainable practices throughout the design, construction, and operations of its office.” Leading-Edge Design for Enhanced Collaboration The new office will promote in-person teamwork in the hybrid work era. Each corner of the new space will be devoted to a collaborative workspace. Conference rooms will feature the latest audiovisual technologies and tablets for easy booking. All individual offices will be a single size, with glass-fronted walls that let in natural light throughout the space—part of the firm's commitment to the “Right to Light”. “NGE’s new office at the top of The Bell is a milestone in Chicago law firm design. In addition to the project’s Net Zero and LEED Platinum objectives, the design prioritizes post-pandemic design principles: air, light and openness. Great care has been taken to achieve egalitarian daylight access, vertical connection of the firm’s collegial culture across three floors and optimization of spatial volumes that imbue a sense of hospitality and community engagement. This project sets a new standard for what balancing professional, timeless, forward-thinking spaces with a deep commitment to environmental stewardship can look like,” said Jim Prendergast, Principal, Gensler. Workplace as a Destination with Best-In-Class Amenities The Bell is set to redefine the workplace experience, offering a range of top-tier amenities designed to enhance the work-life balance of its tenants. These include a 10,500 square-foot state-of-the-art fitness center complete with wellness areas and a variety of fitness options to suit every preference. The building also boasts a 6,000-square-foot conference center with multi-purpose rooms, conference rooms, and pre-function space, accommodating up to 210 people. The Bell's expansive tenant lounges are designed for relaxation and socializing, with amenities like a library bar, pickleball courts, golf simulator, F1 simulators, cozy fireplaces, indoor/outdoor terraces, and vibrant social lounges. The 10,000 square-foot rooftop terrace features 360° views, private dining spaces, a Zen garden, firepits, and bookable cabanas. “We are excited to bring The Bell back to life. Re-imagining an iconic building in the heart of downtown Chicago is an exciting opportunity,” said Greg Wilks, Senior Vice President, Onni Group. “We sought to deliver a modern workplace that meets the changing needs of our tenants and their employees. NGE’s vision for their new home aligned perfectly with our plans. We look forward to welcoming NGE to take advantage of all The Bell has to offer.” About NGE Neal Gerber Eisenberg is a leading law firm dedicated to handling sophisticated matters for entrepreneurs, public companies, and private businesses and their owners. More than one-third of the lawyers at Neal Gerber Eisenberg are recognized in the most recent Best Lawyers in America listing and represent scores of the Fortune 100 and many of the best-known private companies. The firm is also a trusted advisor to startups, growth companies and entrepreneurs. The firm has built over thirty years of trusted partnerships with clients that span the globe, and we meet each unique client need with the same personalized service and collaboration that provide the most practical solutions for every matter. View source version on businesswire.com : https://www.businesswire.com/news/home/20241210896055/en/ CONTACT: John Albrighton Marketing and Business Development Director p: (312) 269-8065 e:jalbrighton@nge.com KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: LEGAL HUMAN RESOURCES CONSULTING PUBLIC POLICY/GOVERNMENT PROFESSIONAL SERVICES SMALL BUSINESS STATE/LOCAL ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) OTHER PROFESSIONAL SERVICES SOURCE: Neal Gerber Eisenberg Copyright Business Wire 2024. PUB: 12/10/2024 04:17 PM/DISC: 12/10/2024 04:15 PM http://www.businesswire.com/news/home/20241210896055/en Copyright Business Wire 2024.Global Ship Repairing Market Set For 8.4% Growth, Reaching $54.57 Billion By 2028
1% Club fans were left shocked after all EIGHT final contestants walked away empty handed after failing to answer the last question correctly. Eight men were the last players standing out of 100 in Tuesday night's show after successfully making it to the 1% question. But after being asked the big-money earner by The 1% Club's host Lee Mack , they all got it wrong and missed out on a share of the £97,000 prize pot. The question, which in theory only one per cent of the UK population will be able to answer, was based on a graphic. Lee asked: "What word is represented by this picture?" The graphic showed the number eight in the middle of an ice cube. The final constants had just 30 seconds to figure it out before locking in their answers. Lee then announced: "Your time is up. Let's see who got it right." After a tense pause, the entire studio was illuminated in red - indicating that no one answered correctly. "I'm afraid you all got it wrong," Lee told the disappointed players. The TV funnyman then revealed the answer: Incubate (in-cube-eight). There was a loud groan from the audience as they realised none of the eight players had joined the 1% Club. Only one contestant walked away with any money - a chap called Jonathan, who was awarded £1,000 for not using his 'pass' card to skip any earlier questions. "Commiserations," Lee told the group. "You didn't make it into the 1% Club but you can at least walk away knowing you did better than everyone else tonight." Fans at home who had been playing along shared their surprise at the final eight's fall. One wrote on X, formerly known as Twitter: "Not one person got it..!" Another added: "The wheels on the brain bus well & truly fell off." And a third said: "Oh what a pity. None of them got it right, meaning that everyone leaves with absolutely nothing...apart from Jonathan, who keeps his £1k." Other fans shared their own guesses, including 'infinite', 'eight squared' and 'eight cubed'. The 1% Club has returned to ITV this week for a special four-episode run, airing each night from Monday (December 9) to Thursday (December 12). Two 1% Club Christmas specials will also air this month, while Lee is also due to front another episode in support of Soccer Aid. The 1% Club first hit screens in 2022 and has fast become one of TV's most popular game shows. In September, it won Best Quiz Game Show at the National Television Awards for the third year in a row. It faced stiff competition but still beat The Wheel, Beat The Chasers, Richard Osman’s House of Games, and Ant and Dec’s Limitless Win.
THOUSAND OAKS, Calif. , Dec. 10, 2024 /PRNewswire/ -- Amgen AMGN today announced that its Board of Directors declared a $2.38 per share dividend for the first quarter of 2025. The dividend will be paid on March 7, 2025 , to all stockholders of record as of the close of business on February 14, 2025 . About Amgen Amgen discovers, develops, manufactures and delivers innovative medicines to help millions of patients in their fight against some of the world's toughest diseases. More than 40 years ago, Amgen helped to establish the biotechnology industry and remains on the cutting-edge of innovation, using technology and human genetic data to push beyond what's known today. Amgen is advancing a broad and deep pipeline that builds on its existing portfolio of medicines to treat cancer, heart disease, osteoporosis, inflammatory diseases and rare diseases. In 2024, Amgen was named one of the "World's Most Innovative Companies" by Fast Company and one of "America's Best Large Employers" by Forbes, among other external recognitions . Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average ® , and it is also part of the Nasdaq-100 Index ® , which includes the largest and most innovative non-financial companies listed on the Nasdaq Stock Market based on market capitalization. For more information, visit Amgen.com and follow Amgen on X , LinkedIn , Instagram , TikTok , YouTube and Threads . Forward-Looking Statements This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd. or Kyowa Kirin Co., Ltd.), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), our acquisitions of Teneobio, Inc., ChemoCentryx, Inc., or Horizon Therapeutics plc (including the prospective performance and outlook of Horizon's business, performance and opportunities, any potential strategic benefits, synergies or opportunities expected as a result of such acquisition, and any projected impacts from the Horizon acquisition on our acquisition-related expenses going forward), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico , and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. There can be no guarantee that we will be able to realize any of the strategic benefits, synergies or opportunities arising from the Horizon acquisition, and such benefits, synergies or opportunities may take longer to realize than expected. We may not be able to successfully integrate Horizon, and such integration may take longer, be more difficult or cost more than expected. A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all. CONTACT: Amgen, Thousand Oaks Elissa Snook , 609-251-1407 (media) Justin Claeys , 805-313-9775 (investors) View original content to download multimedia: https://www.prnewswire.com/news-releases/amgen-announces-2025-first-quarter-dividend-302328180.html SOURCE Amgen © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.{ "@context": "https://schema.org", "@type": "NewsArticle", "dateCreated": "2024-12-03T23:31:59+02:00", "datePublished": "2024-12-03T23:31:59+02:00", "dateModified": "2024-12-03T23:32:55+02:00", "url": "https://www.newtimes.co.rw/article/22327/news/featured/featured-bpr-bank-denmark-launch-56m-credit-guarantee-to-support-msmes", "headline": "FEATURED: BPR Bank, Denmark launch $5.6m credit guarantee to support MSMEs", "description": "BPR Bank, in partnership with the Government of Denmark through the Investment Fund for Developing Countries (IFU), has launched a $5.6 million credit...", "keywords": "", "inLanguage": "en", "mainEntityOfPage":{ "@type": "WebPage", "@id": "https://www.newtimes.co.rw/article/22327/news/featured/featured-bpr-bank-denmark-launch-56m-credit-guarantee-to-support-msmes" }, "thumbnailUrl": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/03/65513.jpg", "image": { "@type": "ImageObject", "url": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/03/65513.jpg" }, "articleBody": "BPR Bank, in partnership with the Government of Denmark through the Investment Fund for Developing Countries (IFU), has launched a $5.6 million credit guarantee initiative aimed at enhancing access to financing for Rwanda’s Micro, Small, and Medium Enterprises (MSMEs). The portfolio guarantee facility, launched on December 3, is designed to provide loans with up to 70% of the required collateral covered, significantly reducing financial barriers for MSMEs. This innovative scheme, the first of its kind by IFU in Africa, targets critical sectors such as agriculture, tourism, renewable energy, ICT, logistics, and enterprises owned by women and youth. ALSO READ: BPR Bank Rwanda, IFC partner to support SMEs with Rwf53bn investment Patience Mutesi, Managing Director of BPR Bank, highlighted the pivotal role of MSMEs in Rwanda’s economic development. “The reason why this partnership is really important is that, as BPR, we believe that for this country to attain economic growth, SMEs need to be at the centre to drive this growth and job creation,” she said. Access to finance remains a key challenge for many businesses, often due to insufficient collateral. Mutesi explained that the guarantee scheme addresses this by mitigating risks for lenders. “The portfolio guarantee allows us to take the risk on the businesses without risking the money never coming back. It provides collateral for SMEs, covering up to 70 per cent of the security required for loans,” she explained. As an example, Mutesi noted that an agricultural SME seeking to adopt advanced technology can access funding under the scheme with only 30% of the typical collateral required. ALSO READ: BPR Bank Rwanda engages entrepreneurs, empowers SMEs with key financial insights Beyond financing, BPR Bank also offers tailored advisory services to businesses. Mutesi outlined various financing options available, such as asset-based financing, commercial mortgages, working capital loans, and collateral management. The bank also offers business support services to help businesses improve their proposals and strengthen internal structures. Ole Thonke, Undersecretary for Development Policy in Denmark, said, “Many SMEs haven’t grown enough to have sufficient collateral, making it risky for banks to lend to them. This guarantee replaces the collateral they lack, enabling BPR to open loans for SMEs to invest in new equipment, drive innovation, and create jobs,” he added. Thonke noted Rwanda’s favorable business environment and its reputation as one of Africa’s best countries for ease of doing business, describing the partnership with BPR as a natural choice. Denmark’s approach to this initiative goes beyond traditional financial returns. According to Thonke, the focus is on the developmental, economic, and social impact of the loans. “What is great about this partnership is that Access to Finance Rwanda (AFR) can step in to help SMEs mature and become eligible for BPR loans under the guarantee scheme,” he added. Bosco Iyacu, CEO of AFR said that businesses often face challenges accessing capital, despite the availability of funds in financial institutions. Addressing this gap, AFR launched the ‘Terimbere MSME Support’ facility, an initiative aimed at preparing enterprises to meet banks’ lending requirements and facilitating access to financing for growth and job creation. “Our mandate is to act as a market catalyst, ensuring financial services are accessible to as many businesses as possible, leading to job creation and improved livelihoods. “Currently, we are piloting with 10 businesses, and in the next five years, we aim to reach 5,000,” Iyacu said. He added, “Through this partnership with BPR and Denmark, we will ensure tracking its impact on employment creation, particularly for youth, and ensuring it reaches those without initial capacity.”", "author": { "@type": "Person", "name": "Alice Umutesi" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }
CHICAGO, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Technip Energies (PARIS:TE) and LanzaTech Global, Inc. (NASDAQ: LNZA) (“LanzaTech”) announced that the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED) has committed up to $200 million in federal funding and authorized the initiation of Phase 1 of their Sustainable Ethylene from CO 2 Utilization with Renewable Energy Project (Project SECURE). Project SECURE, led by Technip Energies in partnership with LanzaTech, aims to provide an integrated commercial process which takes captured carbon dioxide from ethylene production and recycles it with low carbon intensity hydrogen to create sustainable ethanol and ethylene. This joint technology solution is intended to first be deployed in the U.S. Gulf Coast region for integration directly into an existing commercial ethylene cracker and has significant replication potential for ethylene crackers worldwide. Globally, there are approximately 370 ethylene steam crackers, over 40 percent of which use Technip Energies’ technology, including eight in the US. LanzaTech’s carbon recycling technology, which has benefited from previous DOE support, can also be utilized in any industry with waste carbon, allowing other sectors to profit from capturing and recycling carbon-rich emissions into valuable ethanol, instead of sequestering or releasing them into the atmosphere. OCED has committed up to $200 million throughout the project duration to Project SECURE to fund the design, engineering, construction, and equipment for the commercial-scale integrated technology unit. Today’s announcement represents the award of nearly $20 million for the first of four phases to be funded by OCED over the course of the project. During Phase 1 of the project, Technip Energies and LanzaTech will conduct a Front-End Engineering Design (FEED) study, develop project plans, provide documentation and reports necessary to complete the National Environmental Policy Act (NEPA) review, and engage with local community and labor stakeholders. Arnaud Pieton, CEO at Technip Energies, stated “ We are pleased to receive the Phase 1 award from the OCED and begin the engineering design work to progress the development of this innovative technology. The global population is expected to continue to rise by 2050, bringing with it a greater demand for consumer goods that rely on ethylene. While addressing this growing demand, we absolutely need to decarbonize ethylene production. We not only need to do something about carbon but very importantly with carbon. That is what our partnership with LanzaTech on this technology is all about. Leveraging our long-lasting leadership in ethylene, we are committed, together with LanzaTech, to develop this technology at scale and continue to explore ways to decarbonize ethylene production.” Dr. Jennifer Holmgren, Chair and CEO of LanzaTech stated, “ We are thrilled to reach this milestone and commence work on this important project. Ethylene is a key building block for thousands of chemicals and materials, and is often referred to as the world’s most important chemical. Our project not only increases the efficiency and value of existing ethylene production infrastructure, but also creates high-quality jobs and supports local communities . Circularizing our global carbon economy requires combining ambition with action, and we are grateful for the shared vision and support of the OCED to advance this replicable technology, strengthening our domestic manufacturing base for valuable commodities .” OCED’s mission is to deliver clean energy demonstration projects at scale in partnership with the private sector to accelerate deployment, market adoption, and the equitable transition to a decarbonized system. OCED will provide oversight of the project by evaluating the status and quality of implementation at each phase of the project. Through its phased approach to project management oversight, OCED will review and evaluate the project’s progress, including community benefits, which impact OCED’s decision to continue to provide federal funding and allow a project to progress to the following phase. About Technip Energies Technip Energies is a global technology and engineering powerhouse. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO 2 management, we are contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Our complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality. Through collaboration and excellence in execution, our 17,000+ employees across 34 countries are fully committed to bridging prosperity with sustainability for a world designed to last. Technip Energies generated revenues of €6 billion in 2023 and is listed on Euronext Paris. The Company also has American Depositary Receipts trading over the counter. For further information: www.ten.com Contacts Technip Energies About LanzaTech LanzaTech Global, Inc. (NASDAQ: LNZA) is the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein for everyday products. Using its bio-recycling technology, LanzaTech captures carbon generated by energy-intensive industries at the source, preventing it from being emitted into the air. LanzaTech then gives that captured carbon a new life as a clean replacement for virgin fossil carbon in everything from household cleaners and clothing fibers to packaging and fuels. By partnering with companies across the global supply chain like ArcelorMittal, Coty, Craghoppers, REI, and LanzaJet, LanzaTech is paving the way for a circular carbon economy. For more information about LanzaTech, visit https://lanzatech.com . LanzaTech Global, Inc. Investor Relations Kate Walsh VP, Investor Relations & Tax Investor.Relations@lanzatech.com Media Relations Kit McDonnell Director of Communications press@lanzatech.com Important Information for Investors and Securityholders Forward-Looking Statements This Press Release contains forward-looking statements that reflect Technip Energies’ and LanzaTech’s (the “Companies”) intentions, beliefs or current expectations and projections about the Companies’ future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Companies operate. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Companies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Companies. While the Companies believe that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Companies will be those that the Companies anticipate. All of the Companies’ forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Companies’ control, and assumptions that could cause actual results to differ materially from the Companies’ historical experience and the Companies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ 2023 Annual Financial Report filed on March 8, 2024 and in Technip Energies’ 2024 Half-Year Report filed on August 1, 2024, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF) which include a discussion of factors that could affect Technip Energies’ future performance and the markets in which the Company operates. For information regarding LanzaTech’s risk factors that could cause actual results to differ from projected results, please see information contained in LanzaTech’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, as well as other existing and future filings with the U.S. Securities and Exchange Commission. Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Companies undertake no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.Global stocks mostly rose Tuesday, with US and German indices posting records, as markets weighed Chinese stimulus hopes, political tensions in France and the US interest-rate outlook. Germany's blue-chip DAX stock index jumped above 20,000 points for the first time and Paris rebounded even as France braced for new political turmoil. In New York, both the S&P 500 and Nasdaq narrowly rose to finish at records, while the Dow pulled back. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
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