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Ducks limp into Columbus with 5-game losing streakDALLAS and VANCOUVER, British Columbia and ROME, Dec. 13, 2024 (GLOBE NEWSWIRE) -- AleAnna, Inc. (together with its subsidiaries, “AleAnna” or the “Company”), an emerging leader in Italy’s energy landscape, announced the completion of the previously announced business combination (the “Business Combination”) between Swiftmerge Acquisition Corp. (NASDAQ: IVCP) (“Swiftmerge”), a special purpose acquisition company, and AleAnna Energy, LLC (“AleAnna Energy”). Concurrent with the completion of the Business Combination, Swiftmerge has changed its name to AleAnna, Inc. Commencing at the open of trading on December 16, 2024, the Class A shares of common stock and warrants of AleAnna are expected to begin trading on the NASDAQ Capital Market under the ticker symbols “ANNA” and “ANNAW”, respectively. The transaction was unanimously approved by the Board of Directors of Swiftmerge and was approved at an extraordinary general meeting (the “Shareholders Meeting”) of Swiftmerge’s shareholders on December 12, 2024. Former equity holders of AleAnna Energy rolled 100% of their equity interests into the combined company. Prior to the execution of the Agreement and Plan of Merger, dated June 6, 2024, AleAnna Energy's equity holders contributed over $60 million in cash, bringing the company's total cumulative investment to nearly $175 million. This infusion of capital enabled the completion of the Longanesi Field tie-in and the acquisition of initial renewable natural gas (“RNG”) assets, both finalized in Q3 2024. Additionally, the investment covered expenses related to the business combination and provided funding for general corporate liquidity. As of the transaction close, AleAnna had approximately $28 million in cash and cash equivalents on its balance sheet and no debt. This disciplined approach to financial management has empowered AleAnna to allocate significant capital to innovative exploration and development projects while preserving financial flexibility. Long History In Developing Resources in Italy AleAnna has a distinguished history in Italy, having been a leader in energy exploration and development for over a decade. Since its founding in 2007, the company has been dedicated to unlocking the significant potential of Italy’s natural gas reserves through the application of cutting-edge seismic imaging and environmentally responsible practices. AleAnna holds one of the largest portfolios of exploration permits and production concessions in Italy, spanning over 2.3 million acres. By combining advanced technology with a deep respect for Italy’s cultural and environmental heritage, AleAnna is expected to play a pivotal role in bolstering the nation’s energy independence and economic growth, earning its reputation as a trusted partner in Italy’s energy future. Positioning itself as a leader in both onshore conventional natural gas and renewable natural gas (RNG) production, AleAnna is at the forefront of building a secure and reliable domestic energy supply for Italy and the broader European market. The company stands on the cusp of a major milestone, with the first phase of natural gas production from the Longanesi Field projected to commence in Q1 2025. Alongside this, additional gas discoveries at Gradizza and Trava, 13 development prospects in various permitting stages, and leases covering approximately 2.3 million net acres underscore AleAnna’s commitment to future exploration and development. AleAnna is also helping drive the European Union's clean energy transition through its innovative approach to RNG. Leveraging the strategic overlap between its conventional and renewable assets in the Po Valley, AleAnna is transforming agricultural waste into renewable energy. With three RNG facilities operational and over 100 additional opportunities identified, AleAnna is poised for significant expansion in this sector. Guided by a commitment to corporate responsibility and a vision for a sustainable future, AleAnna integrates conventional and renewable energy solutions to reduce Europe’s carbon footprint and advance its clean energy objectives. By delivering innovative energy solutions, AleAnna continues to shape Italy’s energy landscape and support the EU’s transition toward a greener future. Experienced Management And Board Of Directors The combined company will be led by William Dirks as Executive Director and Marco Brun as Chief Executive Officer, supported by a seasoned and highly skilled executive team. AleAnna’s leadership team brings extensive expertise gained from top-tier energy companies, including Shell, Eni, and Exxon. This seasoned group combines in-depth knowledge of energy technology, operations, and business development with well-established regulatory and industry networks in Italy. Their collective experience equips AleAnna to effectively navigate the dynamic and rapidly evolving energy landscape. The Board of Directors, which will include Graham van’t Hoff, William Dirks, Marco Brun, Duncan Palmer, and Curtis Hébert, collectively brings a wealth of experience spanning global energy markets, technical and operational expertise, European energy development, financial management, governance, and regulatory policy. This diverse set of skills and perspectives ensures comprehensive strategic oversight and positions AleAnna for sustained growth and success. With over 15 years of investment and operational experience in Italy, AleAnna has a competitive advantage in securing critical permits and approvals, positioning it ahead of its peers. The company’s approach integrates cutting-edge technologies and industry-leading practices with strategic capital allocation to maximize the value of its conventional and renewable natural gas (RNG) assets. AleAnna is dedicated to sustainable, low-cost growth while maintaining strict capital discipline. By prioritizing innovation, efficiency, and long-term shareholder value, AleAnna is well-positioned to lead the next phase of Italy’s energy transformation. Management Commentary Bill Dirks, Executive Director of AleAnna, commented, “Our investment in state-of-the-art subsurface technology has been a game-changer for AleAnna. By leveraging advanced seismic imaging and cutting-edge data analysis, we have achieved unparalleled accuracy in identifying and developing Italy’s natural gas resources. This technology not only enhances our operational efficiency but also ensures that our exploration and development activities are conducted in an environmentally responsible manner, aligning with our commitment to sustainability and innovation in the energy sector.” Marco Brun, AleAnna’s Chief Executive Officer, added, “We stand at a pivotal moment in AleAnna's journey. As we gear up for production at Longanesi and scale our renewable natural gas (RNG) operations, we are proud to be at the forefront of driving a sustainable energy future. This strategy not only delivers value to AleAnna shareholders but also plays a key role in reshaping the energy landscape for generations to come.” About AleAnna, Inc. AleAnna is an innovative energy company dedicated to unlocking Italy's extensive natural gas reserves and advancing renewable energy solutions to address the country's energy needs and support Europe's sustainability and energy security goals. With a vast portfolio encompassing over 2.3 million acres of potential resources and state-of-the-art technologies, AleAnna is poised to lead Italy's energy transition. Guided by a commitment to environmental responsibility and operational excellence, AleAnna is shaping a sustainable and secure energy future. The company operates regional headquarters in Dallas, TX, and Rome, Italy, serving as strategic hubs for its global and local initiatives. Forward-Looking Statements The information included herein contains “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. Certain statements, other than statements of present or historical fact included herein, regarding the Business Combination, the anticipated benefits of the Business Combination, AleAnna’s future financial performance following the Business Combination, as well as AleAnna’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements. However, not all forward-looking statements contain such identifying words. These forward-looking statements are based on AleAnna management’s current expectations and assumptions about future events. They are based on current information about the outcome and timing of future events. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. AleAnna cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of AleAnna. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the ability to recognize the anticipated benefits of the Business Combination and any transactions contemplated thereby, which may be affected by, among other things, competition, the ability of AleAnna to grow and manage growth profitably and retain its management and key employees; AleAnna’s need for additional capital to execute its business plan and support its anticipated growth; costs related to the Business Combination; the risks associated with the growth of AleAnna’s business and the timing of expected business milestones; AleAnna’s ability to identify, develop and operate new projects; the reduction or elimination of government economic incentives to the natural gas market; delays in acquisition, financing, construction and development of new projects; decline in public acceptance and support of renewable energy development and projects; the ability to obtain necessary regulatory and governmental permits and approvals; uncertainty regarding the EU’s clean energy transition, including existing regulations and changes to regulations and policies that affect AleAnna’s operations; the ability to maintain the listing of AleAnna’s securities on a national securities exchange; and the effects of competition on AleAnna’s future business. These forward-looking statements involve significant risks and uncertainties, and should one or more of the risks or uncertainties described herein and in any statements made in connection in addition to these occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. There may be additional risks that AleAnna does not know or that AleAnna currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact AleAnna’s expectations and projections can be found in filings it makes with the SEC, including the definitive proxy statement/prospectus filed by Swiftmerge and AleAnna Energy with the SEC on November 21, 2024, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by AleAnna. SEC filings are available on the SEC’s website at www.sec.gov . Investor Relations Contact For AleAnna, Inc.: Bill Dirks wkdirks@aleannagroup.com
The club confirmed Phipps’ death on Thursday, leading to a flood of tributes on social media from those that worked with her. David Beckham called Kath Phipps “the heartbeat of Manchester United” as tributes from players past and present poured in following the long-serving receptionist’s death at the age of 85. A lifelong fan, she was an immensely popular figure with players, managers and staff at a club she joined four months after Sir Matt Busby led them to European Cup glory in 1968. Phipps initially worked at Old Trafford in the stadium offices and on matchdays, before Sir Alex Ferguson brought her to their Carrington training ground in 2000. The United great presented her with the League Managers Association’s Service to Football award in 2022, when Beckham was among those to pay tribute. “Forever in our hearts...,” the former midfielder posted on Instagram with a photo holding Phipps’ hand. “The first and last face I would always see was Kath sat at reception at Old Trafford waiting to give me my tickets for the game. “She was the heartbeat of Manchester United, everyone knew who Kath was and everyone adored her. “I moved up to Manchester at 15 and Kath made a promise to my mum and dad ‘I’ll look after your boy for you don’t you worry’ and from that first day till the last day I spent with her that’s exactly what she did. “Old Trafford will never be the same without your smile as we walk through those doors... We love you.” The club confirmed Phipps’ death on Thursday, leading to a flood of tributes on social media from those that worked with her. United’s record goalscorer Wayne Rooney said: “The heart and soul of Manchester United. Everything what the club is about. “A legend who will be greatly missed. Thanks for the memories Kathy. Thoughts with family and friends.” Fellow United former player Patrice Evra said “losing a family member (is) never easy” alongside a photo with Phipps, who David De Gea thanked “for taking care of everyone”. Ex-United defender Rio Ferdinand said: “An absolute mainstay of Manchester United... Always welcomed me and everyone else who visited with a warm smile! Looked at life positively, incredibly selfless & would put others first! RIP.” Current squad members were also quick to pay their respects to Phipps. United skipper Bruno Fernandes reposted the club’s announcement with a heart emoji and Marcus Rashford said: “Awful news, admired by all at the club and beyond, you will be missed.” United defender Harry Maguire posted: “A legend that will never be forgotten. I will miss you. We will miss you. RIP Kath.” Right-back Diogo Dalot wrote: “We love you Kath. Thank you for showing everyday what this club is about and taking care of us.” Jadon Sancho, who is on loan at Chelsea ahead of a permanent United exit, said of Phipps: “I’m grateful that I’ve had the pleasure of meeting you, such a lovely kind hearted soul. “She always made sure I was OK and always put a smile on my face whenever I felt down, I appreciate you Kath. My condolences go out to her family through this tough time.” United have yet to confirm what tribute will be paid at Saturday’s Premier League match against Nottingham Forest. The club said in a statement: “We are deeply saddened to announce the passing of our beloved colleague Kath Phipps at the age of 85. “An omnipresent figure at Manchester United since the late 1960s, Kath worked for the club for over 55 years in a variety of roles, but her contribution went beyond any particular job title. “Kath was a one-woman institution, whose memory will be cherished by everyone at the club who had the privilege of knowing her. “She said last year: ‘I can’t imagine doing anything else’. Well, we can’t imagine the place without her.”CHATHAM, N.J. (AP) — That buzzing coming out of New Jersey ? It's unclear if it's drones or something else, but for sure the nighttime sightings are producing tons of talk, a raft of conspiracy theories and craned necks looking skyward. Cropping up on local news and social media sites around Thanksgiving, the saga of the drones reported over New Jersey has reached incredible heights. This week seems to have begun a new, higher-profile chapter: Lawmakers are demanding (but so far not getting) explanations from federal and state authorities about what's behind them. Gov. Phil Murphy wrote to President Joe Biden asking for answers. New Jersey's new senator, Andy Kim, spent Thursday night on a drone hunt in rural northern New Jersey, and posted about it on X. But perhaps the most fantastic development is the dizzying proliferation of conspiracies — none of which has been confirmed or suggested by federal and state officials who say they're looking into what's happening. It has become shorthand to refer to the flying machines as drones, but there are questions about whether what people are seeing are unmanned aircraft or something else. Some theorize the drones came from an Iranian mothership. Others think they are the Secret Service making sure President-elect Donald Trump’s Bedminster property is secure. Others worry about China. The deep state. And on. In the face of uncertainty, people have done what they do in 2024: Create a social media group. The Facebook page, New Jersey Mystery Drones — let’s solve it , has nearly 44,000 members, up from 39,000 late Thursday. People are posting their photo and video sightings, and the online commenters take it from there. One video shows a whitish light flying in a darkened sky, and one commenter concludes it’s otherworldly. “Straight up orbs,” the person says. Others weigh in to say it’s a plane or maybe a satellite. Another group called for hunting the drones literally, shooting them down like turkeys. (Do not shoot at anything in the sky, experts warn.) Trisha Bushey, 48, of Lebanon Township, New Jersey, lives near Round Valley Reservoir where there have been numerous sightings. She said she first posted photos online last month wondering what the objects were and became convinced they were drones when she saw how they moved and when her son showed her on a flight tracking site that no planes were around. Now she's glued to the Mystery Drones page, she said. “I find myself — instead of Christmas shopping or cleaning my house — checking it,” she said. READ: She doesn't buy what the governor said, that the drones aren't a risk to public safety. Murphy told Biden on Friday that residents need answers. The federal Homeland Security Department and FBI also said in a joint statement they have no evidence that the sightings pose “a national security or public safety threat or have a foreign nexus.” “How can you say it’s not posing a threat if you don’t know what it is?” she said. “I think that’s why so many people are uneasy.” Then there's the notion that people could misunderstand what they're seeing. William Austin is the president of Warren County Community College, which has a drone technology degree program, and is coincidentally located in one of the sighting hotspots. Austin says he has looked at videos of purported drones and that airplanes are being misidentified as drones. He cited an optical effect called parallax, which is the apparent shift of an object when viewed from different perspectives. Austin encouraged people to download flight and drone tracker apps so they can better understand what they're looking at. Nonetheless, people continue to come up with their own theories. “It represents the United States of America in 2024,” Austin said. “We’ve lost trust in our institutions, and we need it.” Federal officials echo Austin's view that many of the sightings are piloted aircraft such as planes and helicopters being mistaken for drones, according to lawmakers and Murphy. That's not really convincing for many, though, who are homing in on the sightings beyond just New Jersey and the East Coast, where others have reported seeing the objects. For Seph Divine, 34, another member of the drone hunting group who lives in Eugene, Oregon , it feels as if it’s up to citizen sleuths to solve the mystery. He said he tries to be a voice of reason, encouraging people to fact check their information, while also asking probing questions. “My main goal is I don’t want people to be caught up in the hysteria and I also want people to not just ignore it at the same time,” he said. “Whether or not it’s foreign military or some secret access program or something otherworldly, whatever it is, all I’m saying is it’s alarming that this is happening so suddenly and so consistently for hours at a time,” he added. ___ Golden reported form Seattle. Copyright 2024 The Associated Press . All rights reserved. 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