DUBAI, UNITED ARAB EMIRATES-Sunday 31 October 2021 [ AETOS Wire ]
Driver Trett, a Global Construction Consultancy, are delighted to announce the launch of its Arabic microsite, https://www.driver-group.com/ar/global/.
Driver Trett always strive for excellence and having a website and its content available in different languages is crucial for a global business. Adding a multilingual functionality to the website has been a key goal for Driver Trett, to allow them to reach and enhance client experiences in the relevant regions, and respective languages.
The new website functionality will serve as a useful and informative portal for local communities, meet client needs, and give better understanding of what the company can offer.
The Arabic microsite is a smaller version of the global website. It includes an About Us section with key contacts both locally, in the native tongue, and globally; full information about the Services and Sectors that Driver Trett cover; Knowledge Updates, and the global Contact Us page.
Visitors can keep up to date with the latest company announcements, and training offers, and browse Driver Trett’s full capability in Arabic.
Global Marketing Manager, Anneka Wilson, comments: “It was really important to the business to launch the Arabic microsite so that we could provide more support to the region and our clients there. We understand the importance of accessibility and user experience when online and having the site available in Arabic will allow clients and users to be able to search for keywords in Arabic.”
Driver Trett invites all Arabic speakers to explore their new microsite which is now live.
About Driver Trett
Driver Trett have provided expert consultancy and advisory services in the field of claims and dispute resolution to the engineering and construction industries for over 40 years. The company has grown to over 400 members of staff, with offices across the Americas, Asia Pacific, Europe, and the Middle East. Our knowledge and experience support the effective and successful delivery and close-out of our clients’ projects worldwide, and bridges the gap between the construction, legal and financial sectors. The range of services offered across the Group provides support to the engineering and construction industries it serves, from start to finish.
Tel: +971 4 453 9031
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Sunday, October 31, 2021
Driver Trett launches Arabic website
Moody’s ESG Solutions’ Climate on Demand tool selected by the Private Infrastructure Development Group
LONDON-Saturday 30 October 2021 [ AETOS Wire ]
(BUSINESS WIRE)-- Moody’s ESG Solutions announced today that the Private Infrastructure Development Group (PIDG) has selected Moody’s Climate on Demand scoring tool to assess climate risk exposure in its investment projects.
PIDG mobilizes private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. It will use Moody’s data to screen potential new investments for exposure to climate hazards based on their precise location, and to assess the physical climate risk exposure of assets in its existing portfolio. PIDG’s investment teams and project sponsors will also leverage the data to inform due diligence and climate risk management and mitigation measures.
“We need to ensure that new infrastructure is resilient to the changing climate, especially in the most vulnerable countries,” said Marco Serena, Head of Sustainable Development Impact at PIDG. “Using Moody’s data, we look forward to working with project sponsors and investee companies to understand more about the hazards that investments may be exposed to during their lifetime, and to support increased resilience to the impacts of climate change – not just on the assets themselves but also on the communities that use the infrastructure.”
Moody’s Climate on Demand tool provides a forward-looking view on assets’ exposure to physical climate risks including floods, heat stress, hurricanes and typhoons, sea level rise, water stress, and wildfires. It can score exposure to climate hazards out to the 2030-2040 decade for any location in the world. It allows users to examine specific risk drivers and explore the underlying indicators, capturing various dimensions of risk for each hazard.
“Integrating exposure to physical climate hazards into financing and development is essential to ensure the long-term viability of infrastructure assets, and to help inform targeted resilience measures,” said Emilie Mazzacurati, Global Head of Moody’s Climate Solutions. “We are pleased that PIDG has chosen to use our Climate on Demand tool as part of its critical efforts to drive investment in climate resilience.”
To learn more about Moody’s Climate Solutions, visit: https://esg.moodys.io/climate-solutions.
ABOUT MOODY’S ESG SOLUTIONS
Moody’s ESG Solutions Group is a business unit of Moody’s Corporation serving the growing global demand for ESG and climate insights. The group leverages Moody’s data and expertise across ESG, climate risk, and sustainable finance, and aligns with Moody's Investors Service and Moody's Analytics to deliver a comprehensive, integrated suite of ESG and climate risk solutions including ESG scores, analytics, Sustainability Ratings and Sustainable Finance Reviewer/certifier services. For more information, visit https://esg.moodys.io/solutions#solutions.
ABOUT PRIVATE INFRASTRUCTURE DEVELOPMENT GROUP
The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of opportunity, accountability, safety, integrity and impact. Since 2002, PIDG has supported 171 infrastructure projects to financial close which provided an estimated 217 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Germany and the IFC. For more information visit www.pidg.org.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005777/en/
Moody’s ESG Solutions:
MD-Global Sales Lead/ESG
+1 (415) 874-6000
+1 (212) 553-0213
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The University of Chicago Booth School of Business Announces 2022 Schedule of Open Enrollment Executive Education Programs
CHICAGO-Saturday 30 October 2021 [ AETOS Wire ]
(BUSINESS WIRE)-- As the world begins to emerge from almost two years of disruption, executives around the globe are looking for growth and development opportunities to navigate a new era. “Although executives continue to face challenges from the COVID-19 pandemic – including supply chain stress, travel and health restrictions, labor deficits, and balancing return-to-work with family obligations – the global economic recovery is gathering steam,” says Meena Wehrs, Associate Dean of Executive Education for The University of Chicago Booth School of Business.
Nothing can ever alleviate uncertainty; however, preparedness and upskilling are the best ways to help leaders and their organizations reset beyond the pandemic.
In 2022, Chicago Booth Executive Education will feature:
Relevant, world-class executive education from top MBA faculty and opportunities to collaborate with executives
Over 50 open enrollment sessions to meet evolving global challenges
Expanded online, distance-learning programs
Resumed in-person programs on global campuses with COVID-19 protocols in place
Collaborations with organizations to create custom programs to meet specific leadership development objectives
What’s more, Chicago Booth has introduced new, relevant learning methods and custom delivery formats (hybrid, asynchronous, synchronous, in person) to support executives’ development objectives. And several new programs will debut, including Unleash the Private Equity Mindset in Private Companies, Effective Business Communication, and Global Leadership Institute.
We encourage you to explore our 2022 catalog, and find the right program for you and your organization during this significant time in history.
Chicago Booth Executive Education offers world-class in-person, live-online, and online education across finance, leadership, strategy, marketing, and comprehensive management, and designs custom programs tailored to meet an organization’s unique challenges. Programs are taught by the same faculty who teach in Booth’s MBA degree program, as well as experts in industry. The Booth Executive Education network represents over 27,000 executives across 130 countries.
About the University of Chicago Booth School of Business
The University of Chicago Booth School of Business is the second-oldest business school in the United States and the first to teach executives. As an intellectual destination, Chicago Booth draws scholars and students from around the world to its global campuses in Chicago, London, and Hong Kong.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211029005496/en/
Executive Education Program Contact:
Executive Director, Executive Education
The University of Chicago Booth School of Business
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Philippine Airlines Boosts Digital Transformation by Switching to Rimini Street Support for its Oracle Footprint
Flagship airline reinvests support cost savings to enhance operational capacities and accelerate post-pandemic recovery
LAS VEGAS-Saturday 30 October 2021 [ AETOS Wire ]
(BUSINESS WIRE)-- Rimini Street, Inc. (NASDAQ: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that Philippine Airlines (PAL), the flagship carrier of the Philippines, has switched to Rimini Street Support for its Oracle E-Business Suite, Fusion Middleware and Database software portfolio. The airline made a strategic decision to move to Rimini Street to help it address the challenges faced by the commercial aviation sector as a result of the global pandemic. By turning over complete support of its Oracle footprint, the airline was able to accelerate key digital innovation projects that support the growth of its business including modernizing its cargo system, integrating its mobile and remote capabilities for more efficiencies and launching its passenger analytics for improving its Know Your Customer program.
Navigating the Pandemic by Optimizing Resources for Business Growth
Founded in 1941, PAL is Southeast Asia’s oldest and longest-serving airline, linking 31 domestic and 54 international destinations around the globe. Today PAL continues to prove its resilience amid the changing business environment. With reduced air travel demand, the impact of the pandemic highlighted the critical role of technology in strengthening its internal capabilities, improving processes for cost-efficiency and implementing strategic projects that deliver value to the business that enable competitive advantage and growth. One of the initiatives embarked on to navigate the pandemic induced crisis was to streamline its portfolio of applications to better optimize its technology investments. This prompted the exploration of third-party support which led the company to Rimini Street for a comprehensive support solution for its mission-critical Oracle software portfolio, which is used for the airline’s finance and administration, procurement and human resources functions.
Philippine Airlines’ focus is to emerge stronger than before and achieve its goal of becoming a more customer-centric airline. By optimizing technology investments, including its Oracle software, the airline was able to pivot the business quickly and channel its liberated resources towards more innovative transformation projects and technology investments that deliver value to the business such as IT modernization and business intelligence initiatives.
“We needed a partner to help us optimize our resources – including time, money and IT personnel – and drive collaboration and efficiency across the company in a more cost-effective manner. Rimini Street was that proven partner of choice. The Company’s responsive, high-quality support as well as the significant support cost savings we realized, enabled us to focus our efforts and resources on our business transformation efforts,” said Wilson Go, chief information officer at Philippine Airlines.
Differentiated and Personalized Support Services
As with all Rimini Street clients, Philippine Airlines is assigned a Primary Support Engineer with an average of 20 years’ experience in the client’s enterprise software and backed by a team of functional and technical engineers. Clients also benefit from Rimini Street’s award-winning service level agreements of 10-minute response times for critical Priority 1 cases and 15-minute response times for Priority 2 issues.
“The collaborative and round-the-clock global and local support we receive from Rimini Street has enabled our internal teams to address issues faster and more efficiently, thus improving the overall experience for both our employees and customers,” continued Go.
“Rimini Street’s client-focused, expert-led support services enable organizations to extract the most value from enterprise software and applications to optimize processes, drive cost efficiencies and help achieve business growth. By leveraging Rimini Street’s unified software support for its Oracle system, PAL was able to reallocate its resources and liberate its IT teams to focus on more strategic initiatives that can help their business navigate the current economic environment,” said Andrew Seow, group vice president and regional general manager, Southeast Asia and Greater China, Rimini Street. “PAL joins more than 4,200 organizations worldwide that have switched to Rimini Street to harness support savings that can be channeled into business innovation.”
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, more than 4,200 Fortune 500, Fortune Global 100, midmarket, public sector and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.
Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the impact of our credit facility’s ongoing debt service obligations and financial covenants and operational covenants on our business and related interest rate risk, the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; including under our new credit facility; our ability to maintain an effective system of internal control over financial reporting, and our ability to remediate identified material weaknesses in our internal controls, including in relation to the accounting treatment of our warrants; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services we expect to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on August 4, 2021, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.
© 2021 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005016/en/
Rimini Street, Inc.
+1 925 523-8414
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Lineage Logistics Launches Nonprofit Lineage Foundation for Good
NOVI, Mich. -Saturday 30 October 2021 [ AETOS Wire ]
~ The Foundation will leverage the access, influence, experience, and expertise of the world’s largest temperature-controlled REIT and logistics solutions provider to reduce food waste and fight global food insecurity ~
~ The Foundation was created by a $3 million gift from Lineage Logistics, LLC ~
(BUSINESS WIRE)-- Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced the launch of the Lineage Foundation for Good (the “Foundation”), an independent nonprofit aimed at reducing food waste and fighting food insecurity to support the global communities where over 21,000 of Lineage’s team members live and work.
According to the Food and Agriculture Organization of the United Nations (FAO) and the UN Environment Programme (UNEP), an estimated one-third of all food produced globally for human consumption is wasted. Of that number, over 40% is attributed to wasted food in the U.S., which equates to roughly 1.3 billion tons of food and 7% of greenhouse gas emissions. By comparison, 30% of temperature-controlled food products in the U.S. and nearly 10% globally travel through Lineage’s warehouse network. As a result, the Company’s unique visibility into its customers’ inventories and the greater food supply chain allows Lineage to proactively identify and facilitate donations of product that might have otherwise gone to waste.
“Given our role in the food supply chain, Lineage recognized that we are in a unique position to leverage our global network of resources to make an impact in the communities where we live and work,” said Greg Lehmkuhl, Lineage’s President and CEO. “The Lineage Foundation for Good creates a real-time link to redirect for donation quality products from food producers and manufacturers that might otherwise go to waste. The Foundation will further fuel our purpose to help feed the world and reimagine the global food ecosystem by limiting its environmental impact through food waste.”
The Foundation, which was created by a $3 million gift from Lineage, will leverage the Company’s access, influence, experience, and expertise in areas like logistics, automated warehousing, cold storage, data science, and distribution to address and improve the global food supply chain’s carbon imprint, reimagine industry processes that have historically led to food waste, and quickly redirect food to be distributed to communities around the world. Darcee Scavone, Lineage’s Vice President of Talent, Culture and Community Engagement, will oversee coordination between the Company and the Foundation and serve as the point of contact internally.
“Heightened by the COVID-19 pandemic, food insecurity is a pressing issue that millions around the globe are facing. Now, more than ever, people need access to quality food, and we are proud to be part of the solution to bring it to them,” said Darcee Scavone. “We have long partnered with the Global FoodBanking Network and Feeding America® and are building on this commitment by putting a vehicle – the connective tissue – in place to facilitate both food and financial donations, as well as promote volunteerism, globally.”
In addition to supporting Lineage’s philanthropic efforts, the Foundation will also support initiatives and organizations that align to its mission and work towards innovative and sustainable solutions to help reduce waste and fight food insecurity.
“Efforts to alleviate hunger and reduce food loss and waste are interlinked and vitally important,” said Lisa Moon, CEO and president of The Global FoodBanking Network. “Lineage Logistics has already demonstrated its commitment to addressing these issues by partnering with food banks globally, and the creation of the Lineage Foundation for Good further underscores this commitment. GFN is looking forward to the increased impact that will be possible as we work together to support community-driven solutions to address food insecurity worldwide.”
“America has more than enough food to feed everyone. But each year, billions of pounds of perfectly good food go to waste,” said Casey Marsh, Chief Development Officer at Feeding America. “Feeding America is the country's largest food rescue organization, and we applaud Lineage Logistics in their efforts to assure food isn’t wasted and gets to food banks serving our neighbors.”
In addition to partnering with the Global FoodBanking Network and Feeding America, the Foundation also works with similarly minded regional and local organizations.
The Foundation operates as a public charity under its own leadership and organizational structure, including a Board of Directors that will oversee all activities and business affairs. The Foundation also plans to accept multi-year annual contributions from Lineage, as well as gifts and direct donations from other individuals and organizations whose work is aligned with its mission to fight food insecurity, reduce food waste, and feed the world.
For more information and updates, please visit Lineage Foundation for Good.
About Lineage Foundation for Good
The Lineage Foundation for Good (the “Foundation”) is the independent philanthropic arm of Lineage Logistics, LLC (“Lineage”). The Foundation leverages the unique access, influence, experience, and expertise of Lineage, one of the world’s largest temperature-controlled logistics solutions providers, and its customers and partners to reduce food waste and fight food insecurity – a need that was accelerated by the practical challenges of getting quality food to those in need during the COVID-19 pandemic. Central to the Foundation’s mission is to develop a dynamic, real-time, and global link between those who commercially produce our food and the individuals, families, and communities who need it most. The Foundation creates a system in which food products, including those that might have otherwise gone to waste, can be quickly and easily steered to food pantries and other non-profits combatting food insecurity around the world. The Foundation supports various philanthropic initiatives that have an impact in the communities in which we live and work, and is proud to partner with Feeding America, the Global FoodBanking Network, and other organizations to expand its reach, maximize its impact, and help feed the world.
About Lineage Logistics
Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 15 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020.
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Energy Vault Announces Energy Storage Agreement with DG Fuels to Provide 1.6 GWh of Energy Storage Capacity In Support of Sustainable Aviation Fuel Projects
Deployment of the innovative EVx™ platform expected to generate up to $520 million in revenue
LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.-Saturday 30 October 2021 [ AETOS Wire ]
-(BUSINESS WIRE)-- Energy Vault, Inc. (“Energy Vault”), the company developing sustainable, grid-scale energy storage solutions with its proprietary technology, today announced that it has entered into an energy storage system agreement with DG Fuels LLC (“DG Fuels”), an emerging leader in renewable hydrogen and biogenic based, synthetic sustainable aviation fuel (”SAF”) and diesel fuel.
Under the terms of the agreement, Energy Vault agreed to provide 1.6 gigawatt hours (GWh) of energy storage to support DG Fuels across multiple projects, with the first project slated for 500 megawatt hours (MWh) in Louisiana. This initial project will be followed by additional projects in British Columbia and Ohio. DG Fuels has developed a carbon conversion fuel production process that is targeting a 93% carbon conversion efficiency, which reduces the amount of feedstock required to produce SAF and lowers cost of production.
DG Fuels will deploy Energy Vault’s gravity storage systems to provide green electricity in conjunction with photovoltaic solar to firm and shape the renewable energy to match the demand load of the green hydrogen production. The renewable power will be used to power HydrogenPro water electrolysis for both hydrogen and oxygen feedstock production.
Energy Vault’s advanced gravity energy storage solutions are based on the proven physics and mechanical engineering fundamentals of pumped hydroelectric energy storage, but replace water with custom-made composite blocks, or “mobile masses”, which do not lose storage capacity over time. The composite blocks can be made from low-cost and locally sourced materials, including the excavated soil at the construction site, but can also utilize waste materials such as mine tailings, coal combustion residuals (coal ash), and fiberglass from decommissioned wind turbine blades.
Additionally, the Energy Vault systems are intended to minimize environmental and supply chain risks, which was a critical factor in the final selection by DG Fuels. The systems are automated with advanced computer control and machine vision software that orchestrate the charging and discharging cycles while meeting a broad set of storage durations starting from 2 hours and continuing to 12 hours, or more.
Energy Vault expects this agreement to provide up to $520 million in revenue across the three projects, the first of which expected to commence in mid-2022.
Robert Piconi, CEO and Co-Founder of Energy Vault, commented, “We are proud to collaborate with DG Fuels and its partners to economically enable 24/7 renewable power, supporting DG Fuels to execute against their plans to efficiently deliver green fuel to the aviation industry. Our energy storage systems are designed to maximize the use of local materials and stimulate local job creation, thus amplifying the sustainability benefits of DG Fuels’ deployment plans. These projects will play a critical role in reducing our reliance on fossil-based fuels while further advancing our country’s decarbonization goals.”
Michael C. Darcy, CEO of DG Fuels said, “We are pleased to be partnering with Rob and the Energy Vault team to deploy their innovative energy storage system which best meets our needs for reliable, cost effective, safe and sustainable energy storage. Energy Vault’s system will play a critical role within our technology and vendor ecosystem to efficiently deliver SAF to the transportation industry.”
About Energy Vault
Energy Vault develops sustainable energy storage solutions that are transforming the world’s approach to utility-scale energy storage for grid resiliency. Our proprietary Energy Management System software and Gravity-based Energy Storage Technology are intended to help utilities, independent power producers and large industrial energy users to significantly reduce their levelized cost of energy while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial re-use , Energy Vault is accelerating the shift to a circular economy and a fully renewable world. Learn more at www.energyvault.com.
Energy Vault previously announced an agreement for a business combination with Novus Capital Corporation II (NYSE: NXU, NXU.U, NXU WS), which is expected to result in Energy Vault becoming a public company listed on the New York Stock Exchange in the first quarter of 2022, subject to customary closing conditions.
About DG Fuels
DG Fuels is building a zero-CO2 life cycle emissions synthetic fuel system based on high carbon conversion technology reaching 93% efficiency. The DG Fuels’ technology does not require the development of new engines or an expanded hydrogen transportation and storage infrastructure. DG Fuels’ innovative technology produces a hydrogen via water electrolysis and biomass derived carbon replacement fuel for aircraft, and potentially for locomotives, vessels and trucks as well.
DG Fuels delivers a significant value proposition to end-customers, including meaningful environmental benefits and the ability to materially address sustainability goals. If successful, DG Fuel’s carbon efficient solution will tie together all critical elements to power, fuel, and provide SAF to its customers. Learn more at www.dgfuels.com.
About Novus Capital Corporation II
Novus raised approximately $287.5 million in its February 2021 IPO and its securities are listed on the NYSE under the ticker symbols “NYSE: NXU, NXU.U, NXU WS.” Novus is a special purpose acquisition company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. Novus Capital is led by Robert J. Laikin, Jeff Foster, Hersch Klaff, Larry Paulson, Heather Goodman, Ron Sznaider and Vince Donargo, who have significant hands-on experience helping high-tech companies optimize their existing and new growth initiatives by exploiting insights from rich data assets and intellectual property that already exist within most high-tech companies.
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “designed,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity, expectations and timing related to the rollout of Energy Vault’s business and timing of deployments, including with respect to the agreement with DG Fuels and the associated projects, expectations with respect to revenue generated under the agreement with DG Fuels, the consummation of the agreement with DG Fuels, the proposed features and designs of the EVx and the Energy Vault Resiliency Center (EVRC) platforms, the availability of low-cost and locally sourced materials to produce “mobile masses,” customer growth and other business milestones, potential benefits of the proposed business combination and PIPE investment (the “Proposed Transactions”), and expectations related to the timing of the Proposed Transactions.
These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Energy Vault’s and Novus’ management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Energy Vault and Novus.
These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely consummate the Proposed Transactions, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Proposed Transactions or that the approval of the stockholders of Novus or Energy Vault is not obtained; failure to realize the anticipated benefits of the Proposed Transactions; risks relating to the uncertainty of the projected financial information with respect to Energy Vault; risks related to the rollout of Energy Vault’s business and the timing of expected business milestones; risks related to the inability or unwillingness of Energy Vault’s customers to perform under sales agreements; risks related to Energy Vault’s ability to obtain and maintain a performance bond; risks related to Energy Vault’s receiving partial payment in the form of subordinated debt; risks related to timing delays that impact the sales price due to Energy Vault under its announced agreement with DG Fuels; demand for renewable energy; ability to commercialize and sell its solution; ability to negotiate definitive contractual arrangements with potential customers, including a purchase and sale agreement with DG Fuels that is contemplated by the announced agreement; the impact of competitive technologies; ability to obtain sufficient supply of materials; the impact of Covid-19; global economic conditions; ability to meet installation schedules; construction and permitting delays and related increases in costs; risks related to the performance of systems delivered to DG Fuels; the effects of competition on Energy Vault’s future business; the amount of redemption requests made by Novus’ public shareholders; and those factors discussed in the Registration Statement and in Novus’ Registration Statement on Form S-4 relating to the business combination under the caption “Risk Factors”, and its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 under the heading “Risk Factors,” and other documents of Novus filed, or to be filed, with the SEC.
Important Information About the Proposed Business Combination and Where to Find It
This communication is being made in respect of the proposed merger transaction involving Novus and Energy Vault. Novus has filed a registration statement on Form S-4 with the SEC, which includes a preliminary proxy statement/prospectus of Novus, and certain related documents, to be used at the meeting of stockholders to approve the proposed business combination and related matters. Investors and security holders of Novus are urged to read the proxy statement/prospectus, as well as any amendments thereto and other relevant documents that will be filed with the SEC, carefully and in their entirety because they contain important information about Energy Vault, Novus and the business combination. The definitive proxy statement will be mailed to stockholders of Novus as of a record date to be established for voting on the proposed business combination. Investors and security holders will also be able to obtain copies of the registration statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s web site at www.sec.gov. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
Novus and its directors and executive officers may be deemed participants in the solicitation of proxies of Novus’ shareholders in connection with the proposed business combination. Energy Vault and its executive officers and directors may also be deemed participants in such solicitation. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Novus’ executive officers and directors in the solicitation by reading Novus’ Annual Report on Form 10-K for the fiscal year ended December 31, 2020, Quarterly Report on Form 10-Q for the six months ended June 30, 2021 and the proxy statement/prospectus and other relevant documents and other materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Novus’ participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.
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Takeda Delivers Strong H1 FY2021 Results; Further Growth Momentum Expected Through Fiscal Year-End Driven by 14 Global Brands
OSAKA, Japan -Saturday 30 October 2021 [ AETOS Wire ]
Delivered H1 Year-Over-Year Growth in Reported Revenue of +12.8% and Underlying Revenue of +6.8%
14 Global Brands Represent 42% of Total Core Revenue with +11.4% Underlying Growth in H1; Further Acceleration Expected through H2
Highly Innovative Pipeline Poised to Deliver Over the Short- and Long-term
Confirmed Full Year Management Guidance, On Track for Underlying Core Operating Profit Margin Target of Approximately 30%
Announces Share Buyback of Up to 100B Yen
(BUSINESS WIRE)-- Takeda Pharmaceutical Company Limited (TOKYO:4502/NYSE:TAK) (“Takeda”) today announced financial results for the first half of fiscal year 2021 (period ended September 30, 2021). Based on the strong first half results, the company also confirmed its fiscal year 2021 management guidance.
Fiscal year 2021, ending in March 31, 2022, continues to be a year of growth with anticipated topline acceleration driven by the company’s 14 global brands. In addition, the company is committed to the potential of its highly innovative R&D strategy built on a combination of in-house innovation and strategic partnerships that tap cutting-edge science at the source. Recent key pipeline wins, including the U.S. Food and Drug Administration (FDA) approval of EXKIVITY™ and unanimous recommendation for approval of maribavir by a U.S. FDA Advisory Committee further underscore its promise and potential. The company also announced today the intent to buy back shares up to 100B yen, underscoring confidence in its business strategy and commitment to delivering value to shareholders.
Christophe Weber, Chief Executive Officer, commented:
“Our strategic vision to discover and deliver life-transforming treatments will be realized by the strength of our leading products and our innovative pipeline. Takeda’s Q2 and first-half results are evidence of progress and conviction in our strategy while consistently delivering on our fundamentals. As a result, we are confirming full-year FY2021 guidance as we track toward topline growth and strong core operating profit margins.”
“Takeda’s growth continues to be driven by our 14 Global Brands, which will remain our primary growth driver for the coming years. In addition, our ambitious pipeline is starting to deliver results, including the recent U.S. FDA approval of EXKIVITY. This underscores the potential of the pipeline to transform lives and our business.”
“The announcement of our new share buyback program, approved by Takeda’s Board of Directors, further demonstrates commitment to delivering shareholder value and our confidence in our business strategy.”
“Takeda’s strong commercial portfolio and R&D pipeline are diversified across four core therapeutic areas and represent innovative and potentially transformative benefits for patients. Altogether, we believe that the combination of these growth drivers will continue to propel our business forward and help to ensure our future growth is resilient, for not just the next quarter but the next decade.”
FINANCIAL AND BUSINESS HIGHLIGHTS
Results for H1 FY2021 Ended September 30, 2021
(billion yen, except
percentages and per
vs. PRIOR YEAR
vs. PRIOR YEAR
Operating Cash Flow
Free Cash Flow (Non-IFRS)(a)(d)
(a) Further information on certain of Takeda’s Non-IFRS measures is posted on Takeda’s investor relations website at https://www.takeda.com/investors/financial-results/.
(b) Underlying growth compares two periods (quarters or years) of financial results under a common basis and is used by management to assess the business. These financial results are calculated on a constant currency basis and excluding the impact of divestitures and other amounts that are unusual, non-recurring items or unrelated to our ongoing operations.
(c) Core Operating Profit represents net profit adjusted to exclude income tax expenses, the share of profit or loss of investments accounted for using the equity method, finance expenses and income, other operating expenses and income, amortization and impairment losses on acquired intangible assets and other items unrelated to Takeda’s core operations, such as non-recurring items, purchase accounting effects and transaction related costs.
(d) Free Cash Flow represents cash flows from operating activities, excluding acquisition of plant, property and equipment, intangible assets and investments, and any other cash that is not available to Takeda’s immediate or general business use, and including proceeds from sales of property, plant, sales and redemption of investments and businesses, net of cash and cash equivalents divested.
Reported Revenue increased +12.8%, Underlying Core Revenue increased +6.8% vs H1 FY2020, driven by 14 global brands
Takeda’s 14 global brands, with an aggregate reported revenue of 692.2 billion yen ($6.2B), posted year-over-year underlying revenue growth of +11.4% and now represent 42% of total core revenue, with further acceleration expected in H2.
Takeda’s 5 key business areas with 1,434.6 billion yen ($12.9B) in reported revenue.
GI with 429.1 billion yen ($3.85B) in reported revenue, with underlying revenue growth of +8% spearheaded by gut-selective ENTYVIO.
Rare Diseases with 300.1 billion yen ($2.69B) in reported revenue declined -2% on an underlying basis with rare hematology decline in line with expectations due to competition and HAE growth being impacted by phasing dynamics; remain on track toward full year forecast.
Plasma Derived Therapy (PDT) Immunology with 238.0 billion yen ($2.13B) in reported revenue, with underlying revenue growth +11% driven by Immunoglobulin and ALBUMIN/FLEXBUMIN.
Oncology with 233.7 billion yen ($2.09B) in reported revenue, with underlying revenue growth of +8% driven by indication expansion across portfolio.
Neuroscience with 233.7 billion yen ($2.09B) in reported revenue, with underlying revenue growth of +9% driven by strong rebound of VYVANSE following impact of COVID-19 in prior year.
Reported Operating Profit increased +60.5%; Underlying Core Operating Profit Margin was 29.1% for H1
Reported operating profit increased +60.5% to 346.0 billion yen ($3.1B) compared to H1 FY2020, reflecting a gain on the sales of the diabetes portfolio in Japan and declining purchase price accounting and integration costs.
Core operating profit for the current period decreased -4.3% due to divestitures and increased R&D investment. On track towards full year forecast of 930.0 billion yen ($8.34B)
Important R&D Milestones as Innovative Pipeline Begins to Deliver
Received U.S. FDA approval for EXKIVITY (mobocertinib) as the first and only approved oral therapy specifically designed for patients with EGFR Exon20 insertion mutations+ NSCLC, with filing under review in China and other countries.
Received unanimous recommendation from a U.S. FDA Advisory Committee for maribavir as a treatment for post-transplant recipients with refractory CMV infection with or without resistance. A decision is expected by next month (PDUFA November 23, 2021).
Partnership with Novavax in Japan for development, manufacturing (250 million doses per year) and commercialization of TAK-019, their COVID-19 vaccine candidate with distribution in Japan expected to begin in early calendar year 2022, subject to regulatory approval.
Received approval from the Japan Ministry of Health, Labour and Welfare for Alofisel (darvadstrocel) to be manufactured and marketed for the treatment of complex perianal fistulas in patients with non-active or mildly active luminal Crohn’s disease.
Announced an exclusive collaboration and license agreement with JCR Pharmaceuticals to commercialize JR-141 (INN: pabinafusp alfa) for the treatment of Hunter syndrome (also known as Mucopolysaccharidosis type II or MPS II).
Announced intent to acquire Gamma Delta Therapeutics to accelerate the development of allogeneic gamma delta T-cell therapies with the intention to finalize deal in Q1 FY22. Closing of the transaction is contingent on completion of review under antitrust laws, including the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 in the U.S.
Entered into three next generation gene therapy collaborations, including with Selecta Biosciences, Poseida Therapeutics and Immusoft.
Additional Pipeline Developments
Suspended dosing of patients in two Phase 2 studies of TAK-994, an investigational oral orexin agonist for the treatment of narcolepsy type 1 (NT1), after a liver toxicity signal emerged in two clinical studies. Takeda, as well as many experts and regulatory authorities, remain excited and optimistic about the potential of orexin agonists given the transformative efficacy demonstrated by TAK-994 in NT1 patients, and Takeda has a number of differentiated molecules in the pipeline that are part of its orexin franchise.
Announced that the Phase 3 PANTHER (pevonedistat-3001) study did not achieve statistical significance for the primary endpoint of event-free survival.
Other Important Developments in H1
Broke ground in Woodlands, Singapore for company’s first building to follow the Singapore Green Mark Zero Energy certification scheme as the first ‘net zero carbon emissions’ building in its global network and first-of-its-kind investment within the biotechnology industry in Singapore.
Selected four new partners for the annual global Corporate Social Responsibility program to help strengthen health systems in low- and middle-income countries.
On Track Towards Full-Year FY2021 Guidance
Reported Operating Profit
Core Operating Profit
Reported EPS (Yen)
Core EPS (Yen)
Free Cash Flow
Annual Dividend per Share (Yen)
(a) Previously 160 yen per Share. This change reflects the recording of a tax provision involving Irish taxation of the break fee Shire received from AbbVie in connection with the terminated offer to acquire Shire made by AbbVie in 2014. This change reflects an update to Takeda’s forecasted net income attributable to owners of the Company for the fiscal year ending March 31, 2022 filed today with the Tokyo Stock Exchange. See the release entitled “Summary of Financial Statements for the Six-month Period Ended September 30, 2021 (IFRS, Consolidated)” for additional information.
Key Assumptions in FY2021 Forecast
Company guidance reflects management’s expectations for continued business momentum across Takeda’s five key business areas and underlying revenue growth of its 14 global brands, while also increasing investment in R&D.
FY2021 guidance reflects key assumptions, including (1) Takeda expects at least one 505(b)2 competitor for subcutaneous VELCADE to launch in the U.S. around mid FY2021; (2) Takeda does not expect to restart sales of NATPARA in the U.S. market in FY2021; and (3) FY2021 guidance does not include the impact of any potential further divestitures beyond what has already been disclosed by Takeda.
To date, Takeda has not experienced a material effect on its financial results as a result of the global spread of the novel coronavirus infectious disease (COVID-19). Based on currently available information, Takeda believes that its financial results for FY2021 will not be materially affected by COVID-19 and, accordingly, Takeda's FY2021 forecast reflects this belief. However, the situation surrounding COVID-19 remains highly fluid, and future COVID-19-related developments in FY2021, including new or additional COVID-19 outbreaks and additional or extended lockdowns, shelter-in-place orders or other government action in major markets, could result in further or more serious disruptions to Takeda’s business, such as slowdowns in demand for Takeda’s products, supply chain related issues or significant delays in its clinical trial programs. These events, if they occur, could result in an additional impact on Takeda’s business, results of operations or financial condition, as well as result in significant deviations from Takeda’s FY2021 forecast.
For more details on Takeda's H1 FY2021 results and other financial information, please visit: https://www.takeda.com/investors/financial-results/
About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited (TOKYO: 4502/NYSE: TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to discover and deliver life-transforming treatments, guided by our commitment to patients, our people and the planet. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Genetics and Hematology, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people’s lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries and regions. For more information, visit https://www.takeda.com.
For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws. The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
The product names appearing in this document are trademarks or registered trademarks owned by Takeda, or their respective owners.
This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could” “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations, including global health care reforms; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/sec-filings/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.
Takeda’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”). Convenience translations of JPY figures into USD are included for reference and have been calculated at a rate of JPY/USD of 111.5.
Certain Non-IFRS Financial Measures
This press release and materials distributed in connection with this press release include certain IFRS financial measures not presented in accordance with International Financial Reporting Standards (“IFRS”), such as Underlying Revenue, Core Operating Profit, Underlying Core Operating Profit, Core Net Profit, Underlying Core EPS, Net Debt, EBITDA, Adjusted EBITDA and Free Cash Flow. Takeda’s management evaluates results and makes operating and investment decisions using both IFRS and non-IFRS measures included in this press release. These non-IFRS measures exclude certain income, cost and cash flow items which are included in, or are calculated differently from, the most closely comparable measures presented in accordance with IFRS. By including these non-IFRS measures, management intends to provide investors with additional information to further analyze Takeda’s performance, core results and underlying trends. Takeda’s non-IFRS measures are not prepared in accordance with IFRS and such non-IFRS measures should be considered a supplement to, and not a substitute for, measures prepared in accordance with IFRS (which we sometimes refer to as “reported” measures). Investors are encouraged to review the reconciliation of non-IFRS financial measures to their most directly comparable IFRS measures.
Further information on certain of Takeda’s Non-IFRS measures is posted on Takeda’s investor relations website at https://www.takeda.com/investors/financial-results/
This press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development.
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Christopher O’Reilly, +81 (0) 3-3278-2543
Christina Beckerman, +1 (908) 581-4133
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The International Telecom Community Awarded Nexign Microservices Platform Twice in a Week
SAINT PETERSBURG, Russia & DUBAI, United Arab Emirates-Thursday 28 October 2021 [ AETOS Wire ]
(BUSINESS WIRE) -- Nexign (part of ICS Holding), an international provider of business support systems (BSS), has announced it won the MEA Technology Achievement Award and was shortlisted for another prestigious international award for the telecom industry, Glotel.
The MEA Tech Award was introduced by the MEA Business magazine, one of the business's top publications in the Middle East and Africa, while the Global Telecom Award brings together the top players in telecom from around the world recognizing innovation and excellence.
The prize and the nomination were awarded the same week for the Nexign Microservices Platform and the Microservices Factory project based on it.
Nexign Microservices Platform supports the whole cycle of development and delivery based on cloud-native microservices architecture, which lays the foundation for continuous creation of new digital services. The framework leverages CI/CD automation and facilitates partner collaboration through standardised APIs. This solution enabled the launch of Microservices Factory at MegaFon and allowed the company to reduce TTM for internal innovations. Nexign Microservices Framework empowered MegaFon to roll out 100+ new services, bring to market a multi-subscription digital services platform MegaFon Plus, and generally slash TTM from 3-4 months up to 2 weeks.
The project resulted in building the Open Ecosystem, constantly expanding with the new partners enriching MegaFon’s portfolio with the new product offerings. Nexign Microservices Platform enables telecom operators to always stay at the forefront of market changes and steadily cater to the ever-changing needs of its customers.
Both the development project and the final product have garnered recognition from the international telecom industry, to which the MEA Tech Award and the Glotel nomination are a token.
“The award and the nomination are not just a huge honour for Nexign. They signify the professional community’s recognition and appreciation of our projects. We strongly believe the Microservices Platform is a solution the world of telecom really needs these days. It would allow CSPs to swiftly react to any challenges the market can throw at them,” says Dmitry Antipov, the Customer Relations Director at Nexign.
Nexign (a part of Intellectual Computer Systems Holding (ICS Holding) is a major supplier of BSS solutions for telecom operators across 17 countries. The company focuses on modernising CSP’s IT systems to boost their profitability and slash TTM for new products.
Over 30 years on the market, Nexign has created an extensive suite of technological solutions to support and sustain transformation of telecom operators. Nexign’s products range from convergent BSS systems to elaborate optimisation solutions for subordinate software. Nexign boasts its comprehensive approach to reorganising all kinds of processes in the telecom industry, which offers a fresh impetus to the customer business and encourages innovations.
For more information, please visit the website and follow the latest news from Nexign on Twitter, Facebook and LinkedIn.
About ICS Holding
Intellectual Computer Systems Holding (https://x-holding.ru/) is a multidisciplinary Russian IT group, which holds a leading position in the technology and IT services development market. ICS Holding is the largest IT provider for telecom operators and one of the fastest growing IT holdings in the Russian market. ICS Holding is among Russia’s top three largest IT development companies, top ten IT companies and top ten suppliers of equipment for the industrial sector. The holding brings together more than 30 companies united in five subholdings: YADRO, Nexign, Citadel, Kryptonit and Forpost.
ICS Holding’s top priorities include the digital transformation of enterprise companies, information security, data storage systems, cryptography and quantum computing, machine learning and artificial neural networks, blockchain technology and artificial intelligence (AI). In terms of geographical reach, the business covers all regions of Russia, as well as several countries in the CIS and further afield.
ICS Holding companies employ in excess of 6,000 people. More than 120 global projects have been implemented in Russia and worldwide. More than 1000 of ICS Holding’s customers work in more than 20 countries.
The total revenue of ICS Holding companies in 2020 reached 85 billion rubles. The partner network of ICS Holding includes more than 50 companies in Russia and beyond.
15.09.2020 ICS Holding became a part of USM Telecom.
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Marketing Communications Team Lead, Nexign
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Vifor Pharma and Angion report topline results from phase-III registration trial of ANG-3777 in kidney transplant patients at risk for delayed graft function
• Phase-III trial did not demonstrate a statistically significant difference from placebo on the primary endpoint of estimated Glomerular Filtration Rate (eGFR) at 12 months in patients at risk for delayed graft function (DGF)
• Safety profile of ANG-3777 consistent with overall experience
• Further data analysis ongoing to determine next steps
ST. GALLEN, Switzerland & UNIONDALE, NY-Wednesday 27 October 2021 [ AETOS Wire ]
(BUSINESS WIRE) -- Regulatory News:
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
Vifor Pharma and Angion Biomedica Corp. (NASDAQ: ANGN) today announced that the phase-III trial of Angion’s ANG-3777 did not demonstrate a statistically significant difference from placebo on the primary endpoint (eGFR at 12 months) in the population of deceased donor kidney transplant patients who were at risk for developing DGF.
ANG-3777 showed a modest but not statistically significant difference in eGFR of 53.3mL/min/1.73m2 versus 50.4mL/min/1.73m2 for placebo (2.9 mL/min/1.73m2 (p=0.33)). In addition, ANG-3777 demonstrated an inconsistent benefit on key secondary endpoints. Based upon these data, it is not expected there is sufficient evidence to support an indication in the studied DGF population.
The statistical analysis plan also included an analysis of only those people who completed the trial, without using a multiple imputation method to account for missing data and intercurrent events. Under this analysis, ANG-3777 showed a difference on 12 month eGFR of 57.1mL/min/1.73m2 versus 52.2mL/min/1.73m2 (4.9mL/min/1.73m2, p=0.06) for placebo. These data are potentially indicative of biologic activity of ANG-3777.
The overall safety profile of ANG-3777 in this trial was consistent with the overall experience in its clinical development program and consistent with the published literature in this patient population.
“Unfortunately, the results of the phase-III registrational trial did not confirm as strong of an effect as we hoped for in the interests of patients experiencing DGF after kidney transplantation”, said Dr. Klaus Henning Jensen, Chief Medical Officer of Vifor Pharma. “These kinds of challenges are part of clinical development activities. Our collaboration with Angion and the development of ANG-3777 in cardiac-surgery associated acute kidney injury (CSA-AKI) continues unchanged, with topline data expected later this year.”
“We are disappointed in the outcome of this trial. While we saw signals of activity for ANG‑3777, we hoped ANG-3777 would robustly demonstrate a benefit for transplant recipients who have no treatment options when their transplants have DGF,” stated Jay Venkatesan, M.D., Angion’s President and CEO. “The totality of the DGF data, together with the CSA-AKI data expected later this year, will inform our clinical strategy with respect to ANG-3777 going forward. I want to extend my special thanks to the patients, their families, and the investigators and their staff members who participated and worked diligently on this trial.”
This multi-center, double-blinded, and placebo-controlled phase-III trial randomized 253 patients 1:1 to receive ANG-3777 or a placebo treatment dosed once per day for three days. Eligible patients received a deceased donor transplant and were determined to be at risk for delayed graft function by having low urine output (oliguria) for more than 8 consecutive hours post-transplant, reflecting potential graft injury. Twenty-five transplant centers in the U.S. enrolled patients in this phase-III registration trial. The primary endpoint was renal function assessed by estimated glomerular filtration rate (eGFR) with a primary analysis time point of eGFR at twelve months using a pre-specified multiple imputation method.
About Vifor Pharma Group
Vifor Pharma Group is a global pharmaceuticals company. It aims to become the global leader in iron deficiency, nephrology and cardio-renal therapies. The company is a partner of choice for pharmaceuticals and innovative patient-focused solutions. Vifor Pharma Group strives to help patients around the world with severe and chronic diseases lead better, healthier lives. The company develops, manufactures and markets pharmaceutical products for precision patient care. Vifor Pharma Group holds a leading position in all its core business activities and consists of the following companies: Vifor Pharma and Vifor Fresenius Medical Care Renal Pharma (a joint company with Fresenius Medical Care). Vifor Pharma Group is headquartered in Switzerland, and listed on the Swiss Stock Exchange (SIX Swiss Exchange, VIFN, ISIN: CH0364749348).
For more information, please visit viforpharma.com.
Angion is committed to transforming the treatment paradigm for patients suffering from acute organ injuries and fibrotic diseases for which there are no approved medicines or where existing approved medicines have limitations. Angion’s lead product candidate, ANG-3777, is a hepatocyte growth factor (HGF) mimetic. An exploratory Phase 2 trial of ANG-3777 for the treatment of acute kidney injury associated with cardiac surgery involving cardiopulmonary bypass surgery is ongoing with data expected in the fourth quarter of 2021. Angion is scheduled to begin a Phase 2 trial evaluating ANG-3070, an oral tyrosine kinase receptor inhibitor for the treatment of fibrotic disease, in patients with primary proteinuric kidney diseases. Additionally, Angion has preclinical programs for a rho kinase 2 (ROCK2) inhibitor and a CYP11B2 (aldosterone synthase) inhibitor. For more information, please visit www.angion.com.
Angion expects to report cash and cash equivalents as of 30 September 2021 totaling approximately $100 million, when it reports quarterly earnings in November 2021.
ANG-3777 is a small molecule designed to mimic the biological activity of hepatocyte growth factor (HGF), which activates the c-Met cascade of pathways involved in tissue repair and organ repair. ANG-3777 has a substantially longer half-life than HGF. An exploratory phase-II trial for the treatment of acute kidney injury associated with cardiac surgery involving cardiopulmonary bypass (CSA-AKI) is ongoing with data expected in the fourth quarter of 2021. In November 2020, Vifor Pharma and Angion signed a license agreement for global rights outside Greater China to commercialize ANG-3777 in nephrology indications only.
Forward Looking Statements
Statements contained in this press release regarding matters that may occur in the future are “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements in this press release regarding Angion’s expectations that release of topline data from the ANG-3777 Phase 2 exploratory trial for the treatment of acute kidney injury associated with cardiac surgery involving cardiopulmonary bypass surgery will be in the fourth quarter of 2021, a global Phase 2 trial of ANG-3070 in patients with primary proteinuric kidney diseases will begin enrolling patients this year, and Angion expects to report cash and cash equivalents as of September 30, 2021 totaling approximately $100 million. Such statements are subject to risks and uncertainties and actual results may differ materially from those expressed or implied by such forward-looking statements. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: reporting of trial results or commencing enrollment in clinical trials could be delayed for reasons outside of Angion’s control, including the effects of COVID-19 on Angion’s clinical programs and business operations; and Angion’s September 30, 2021 estimated cash is preliminary and is subject to review and adjustment during the financial review process. For a description of risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements, see Angion’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the Securities and Exchange Commission on August 12, 2021, particularly the information under the caption “Risk Factors,” as well as other documents that may be filed by Angion from time to time with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Angion undertakes no obligation to update any forward-looking statement in this press release, except as required by law.
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Fluence Announces Pricing of Initial Public Offering
ARLINGTON, Va.--Friday 29 October 2021 [ AETOS Wire ]
(BUSINESS WIRE)-- Fluence, a leading global provider of energy storage products and services and digital applications for renewables and storage, today announced the pricing of its initial public offering of 31,000,000 shares of its Class A common stock at a price to the public of $28.00 per share. The shares of Class A common stock are expected to begin trading on the Nasdaq Global Select Market on October 28, 2021, under the ticker symbol “FLNC.” The initial public offering is expected to close on November 1, 2021, subject to customary closing conditions.
In addition, Fluence has granted the underwriters a 30-day option to purchase up to an additional 4,650,000 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions.
J.P. Morgan Securities LLC, Morgan Stanley, Barclays Capital Inc., and BofA Securities are acting as joint lead book-running managers for the offering. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, UBS Securities, LLC, Evercore Group L.L.C., HSBC Securities (USA) Inc., and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Nomura Securities International, Inc., Robert W. Baird & Co. Incorporated, Raymond James & Associates, Inc., Seaport Global Securities LLC, Penserra Securities LLC, and Siebert Williams Shank & Co., LLC are acting as co-managers for the offering.
The offering is being made only by means of a prospectus. When available, copies of the final prospectus related to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at email@example.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at firstname.lastname@example.org or by telephone at (888) 603-5847; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department or by email at email@example.com.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on October 27, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Fluence, a Siemens and AES company, is a global market leader in energy storage products and services and digital applications for renewables and storage. We have more than 3.4 GW of energy storage deployed or contracted in 29 markets globally, and more than 4.5 GW of wind, solar and storage assets optimized or contracted in Australia and California. Through our products, services and AI-enabled Fluence IQ platform, we are helping customers around the world drive more resilient electric grids and a more sustainable future.
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Announcement at kENUP Roundtable: BioNTech Plans mRNA Facility in Africa in Mid-2022
• BioNTech signs Memorandum of Understanding with Rwandan Government and the Institut Pasteur de Dakar. Construction is planned to be initiated of the first mRNA manufacturing facility in Africa in mid-2022
• First manufacturing facility will become a node in a decentralized and robust African end-to-end manufacturing network
• Development and implementation of a scalable regional manufacturing network to enable an annual manufacturing capacity of several hundreds of million mRNA vaccine doses
KIGALI, Rwanda-Thursday 28 October 2021 [ AETOS Wire ]
(BUSINESS WIRE) -- BioNTech SE today announced that the Company plans to initiate the construction of the first state-of-the-art manufacturing site for mRNA-based vaccines in the African Union in mid-2022. This is the next step in BioNTech’s efforts to implement sustainable end-to-end vaccine supply solutions on the African continent. The decision is the result of a meeting between Rwanda’s Minister of Health, Dr Daniel M. Ngamije, Senegal’s Minister of Foreign Affairs Aïssata Tall Sall, Ugur Sahin, M.D., CEO and Co-Founder of BioNTech and Sierk Poetting, COO of BioNTech as well as Dr Sabin Nsanzimana, Director-General of Rwanda Biomedical Centre and Dr Amadou Alpha Sall, Directeur-General of Institut Pasteur de Dakar in Kigali, Rwanda. The meeting occurred upon the invitation of the kENUP Foundation and took place as a side-event of the Second Ministerial Meeting of the African Union and the European Union and resulted in a Memorandum of Understanding (MoU). This comes after the parties signed a Joint Communiqué at a previous meeting in Berlin on August 27, 2021.
“I would like to thank all participants of today’s meeting for the support and trust to establish the first mRNA manufacturing facility within the African Union. Together, we will work on developing a regional manufacturing network to support the access to vaccines manufactured in Africa, for Africa,” said Ugur Sahin, M.D., CEO and Co-founder of BioNTech. “Our goal is to develop vaccines in the African Union and to establish sustainable vaccine production capabilities to jointly improve medical care in Africa. We have made great progress in the past few weeks, which will help us on our way to turn these plans into reality.”
Sierk Poetting, COO of BioNTech added: “We aim to accelerate the building of a GMP-certified manufacturing facility and plan to begin the construction on site in mid-2022. The MoU underlines that time is a critical success factor in the development of sustainable vaccine production for the African Union. We have finalized the planning and initial assets for the new facility have already been ordered.”
The parties agree to jointly establish end-to-end manufacturing capacities for mRNA-based vaccines in Africa starting immediately. BioNTech has finalized the construction plans and ordered the assets, which will be delivered by mid-2022. The new manufacturing facility could become the first node in a decentralized and robust African end-to-end manufacturing network enabling an annual manufacturing capacity of several hundreds of million mRNA vaccine doses.
BioNTech plans to develop and implement a scalable construction network based on the expertise and learnings from the ramp-up of the Company’s production facility in Marburg. To enable an expedient set-up of production capacities according to GMP standards, BioNTech will start with the construction and validation of a first production line enabling the manufacturing of drug product for about 50 million of e.g. COVID-19 vaccine doses per year, once fully operational. The capacity will be increased sequentially by adding further manufacturing lines and sites to the manufacturing network on the continent, supporting the production of several hundreds of millions of mRNA vaccine doses.
BioNTech will initially staff, own and operate the facility to support the safe and rapid initiation of the production of mRNA-based vaccine doses. BioNTech plans to transfer manufacturing capacities and the know-how to local partners. Therefore, BioNTech, Rwanda Development Board and Institut Pasteur de Dakar in Senegal agreed to swiftly build-up the required human resources capacity and systems so that the partners can take over ownership and operational duties. In parallel, the Republic of Rwanda and the Institut Pasteur de Dakar have committed themselves to scale-up fill and finish capacities to complete the local end-to-end manufacturing process. In addition, BioNTech is in discussions about an expansion of the current partnership with Cape Town-based vaccine manufacturer Biovac, which is part of the Pfizer-BioNTech COVID-19 vaccine manufacturing network.
Dr Daniel Ngamije, Minister of Health of the Republic of Rwanda: "Bringing end-to-end vaccine manufacturing of biologicals to Africa is essential for our continent’s health security and prosperity. Rwanda is committed to working with the African Union, the European Union, BioNTech, and other technology partners to make this a reality as quickly as possible.”
“The BioNTech partnership will not only build physical infrastructure but also strengthen human capacity in Africa to develop the most advanced vaccine technologies,” said Minister of Foreign Affairs Aïssata Tall Sall. “With decades of experience manufacturing yellow fever vaccines, the Institut Pasteur de Dakar is ready to partner with BioNTech to rise to the challenge of developing mRNA vaccines for Africa.”
Dr Monique Nsanzabaganwa, Deputy Chairperson of the African Union Commission: "By working together, in the spirit of this meeting, the African Union, the European Union, key technology partners, and other stakeholders, can make decisive contributions and effective coordination in the fight against this pandemic, and future health challenges."
Jutta Urpilainen, European Union Commissioner for International Partnerships: “I am proud to welcome this next, concrete step towards making mRNA-based vaccines in Africa, for Africa. Through our Team Europe Initiative on local manufacturing and access to vaccines, medicines and medical technologies, the European Union is committed to making this initiative a success.”
Dr Matshidiso Moeti, World Health Organization Regional Director for Africa: “State-of-the-art facilities like this will be life-savers and game-changers for Africa and could lead to millions of cutting-edge vaccines being made for Africans, by Africans in Africa. This is also crucial for transferring knowledge and know-how, bringing in new jobs and skills and ultimately strengthening Africa’s health security. WHO is ready to work with countries to step up their commitment to vaccine manufacturing.”
Holm Keller, Executive Chairman of kENUP Foundation: “Global vaccine equity is key to accelerating the end of the pandemic. Today’s announcement is an important next step towards sustainable vaccine production in Africa. We are grateful to our partners for their decisive contribution and their relentlessness towards making swift Africa vaccine production a reality.”
The initiative is aligned with the Team Europe Initiative on manufacturing and access to vaccines, medicines and medical technologies (MAV+) led by the European Commission in collaboration with the EU Member States and the European Investment Bank.
More information can be found at www.kenup.eu.
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MSCI Makes Implied Temperature Rise Data of Over 2,900 Companies Publicly Available
Underscores MSCI’s commitment to increase ESG transparency and data for investors globally
NEW YORK -Friday 29 October 2021 [ AETOS Wire ]
(BUSINESS WIRE)-- With the critical COP26 conference just around the corner, investors are seeking new levels of transparency into the alignment of listed companies with global climate goals. MSCI (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, announced today it has made the Implied Temperature Rise of over 2,900 companies (constituents of MSCI ACWI Index) publicly available on its website, to allow investors access to the data and transparency required to navigate their transition to net-zero.
Implied Temperature Rise provides clarity and transparency on the climate commitments of listed companies by assessing their commitments to net-zero emissions using a simplified and powerful forward-looking metric: companies’ alignment with global temperature targets, which is expressed in degrees Celsius. MSCI first announced the launch of this solution in September. The Temperature Rise solution was modelled to meet the design recommendations set out by the Task Force on Climate-Related Financial Disclosures (TCFD) Portfolio Alignment Team for all segments of the financial sector to measure and disclose temperature alignment of portfolios as well as target-setting frameworks.
Implied Temperature Rise captures crucial benchmarks, such as the 2°C target set by the Intergovernmental Panel on Climate Change, as well as the 1.5°C limit, popularized through the Paris Agreement, as well as companies’ decarbonization plans. Implied Temperatures are calculated by comparing companies’ projected emissions with their allocation of the global remaining carbon budget, a figure that sets the upper limit on allowable carbon emissions to keep the planet below key temperature targets, a benchmark that is also referenced in MSCI’s quarterly Net-Zero Tracker.
Beginning today, global investors will be able to search a company’s name or ticker to access its Implied Temperature Rise, decarbonization target (through MSCI’s Target Scorecard), and its MSCI ESG Rating which has been available since 2019. The publicly available tools are available on MSCI’s website here.
Remy Briand, Global Head of ESG and Climate at MSCI, said: “At MSCI, we are staunch advocates of the need for greater transparency and consistent standards in ESG and Climate metrics. Publishing the Implied Temperature Rise data is a natural extension of the transparency work we started in 2019 when MSCI published our ESG Ratings. As COP26 fast approaches, we are confident this new data adds much-needed clarity to the discussion on the role of capital markets in combating climate change. We are proud to be a leader in driving ESG and Climate transparency, equipping investors with the data they need as they sharpen their focus on the financial impact of climate change, raising awareness of the value of ESG data and ratings, and improving disclosure standards.”
MSCI has and will continue to conduct proactive outreach to the nearly 10,000 publicly listed companies to call for increased climate disclosure by year end. MSCI invites all issuers to review and provide feedback on their climate targets and commitments through the MSCI ESG Issuer Communications Portal.
About MSCI Inc.
MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 50 years of expertise in research, data, and technology, we power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. We create industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or performance and involve risks that may cause actual results or performance differ materially and you should not place undue reliance on them. Risks that could affect results or performance are in MSCI’s Annual Report on Form 10-K for the most recent fiscal year ended on December 31 that is filed with the SEC. MSCI does not undertake to update any forward-looking statements. No information herein constitutes investment advice or should be relied on as such. MSCI grants no right or license to use its products or services without an appropriate license. MSCI MAKES NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE WITH RESPECT TO THE INFORMATION HEREIN AND DISCLAIMS ALL LIABILITY TO THE MAXIMUM EXTENT PERMITTED BY LAW.
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