Fintech PR
Ideanomics’ NETS Division and Palcan to Commence Fast Charge Networks Initiative
Ideanomics Inc. (Nasdaq: IDEX) has today announced a strategic partnership with Shangahi Bo Hydro New Energy Technology (known in English as Palcan Energy Corporation, a Methanol to Hydrogen energy provider which is joint headquartered in Vancouver, Canada and Shanghai, China). The purpose of the partnership is to introduce Palcan’s Methanol to Hydrogen technology to existing fuel station networks, as an efficient way to roll-out a fast-charging network for EV that is both familiar and accessible to consumers and fleet customers. The partnership plans to begin building out fast charge networks, as part of Ideanomics’ innovative S2F2C model, by partially or fully converting existing fossil fuel gas stations into fast-charging new energy stations, giving the major fossil fuel companies a convenient path to ensuring their fuel stations are converted rather than disposed of or abandoned during the migration to clean tech fuels. This conversion path will allow the fuel station assets, that are typically owned and operated by oil companies or via local independent operators who sell fuel under oil company brand names, to absorb some of the anticipated financial impact that will result from mass adoption of electric and hydrogen-powered vehicles.
The agreement allows for the use of Palcan’s technology outside of electricity-generation for charging networks, and into other areas of industry, such as hydrogen-based batteries, vehicle charging solutions, and mobile electricity generation. Ideanomics provides marketing and promotion of Palcan’s technology and services, as well as introductions to its manufacturing, power grid, and fleet operating partners. The intention of the partnership is to engage in revenue-sharing brought about by the deployment of Palcan’s technology and services.
Palcan produces reliable, affordable, power systems for the transportation industry that are powered by Hydrogen generated from Methanol, rather than traditional fuels such as gasoline or diesel. Additionally, Palcan’s MRFC technology adapts to many other sectors beside transportation including: telecommunications, mobile charging, off grid homes and back-up power. Methanol is widely seen as a significant stepping-stone in the transition from petroleum-based products, due to it having the highest hydrogen to carbon ratio. The result is a significant reduction in nitrous oxides which form low-level Ozone – more commonly known as “Smog” – when compared to conventional fossil fuels.
The Ideanomics NETS division, along with partners such as Palcan, is working on the challenge of how to ensure the enormous investment in gas stations, made over the past one hundred years or so, is not lost in the transition to clean tech fuels. Palcan’s technology, as well as being Government-approved for immediate use in China, enables both a reduction in the size of charging units, and the storage of methanol to a comparable size of petroleum-based fuels used in today’s fuel stations. The safe conversion of Methanol to Hydrogen, to produce electricity that is stored in the fuel cells of the charging units, allows for a DC-based charging output which reduces the time of charging to under 10 minutes. As the technology is deployed, the partnership is working towards a goal of achieving a charge time of between 4 to 6 minutes to mirror the current re-fueling experience drivers are familiar with.
“The partnership with Palcan is part of our NETS division’s goal of providing a range of fast-charging network solutions which are every bit as fast and convenient as the current fuel station networks relied on by consumers and fleet customers alike,” said Alf Poor, CEO of Ideanomics. “The advantages of Methanol, with its Hydrogen-rich make-up, and lower carbon footprint, allows for the efficient production of electricity on-site which is important for two reasons. Firstly, it enables the gas station networks to make use of their existing assets, and secondly it avoids significant investment in electrical infrastructure which would otherwise be required. This has far-reaching benefits, which range from the cost of running additional power lines and the deployment of subsequent power stations and sub-stations to ensure the availability of sufficient electrical power, through to avoiding high-tension power line deployments in population areas where it is often argued there is potential for adverse effects on health. Not just limited to charging networks, Palcan’s technology enables highly-efficient mobile electricity generation which can be used in anything from industry to homes that are off-the-grid. It’s a win-win for everyone, whether a provider or consumer of tomorrow’s fuel and power needs”.
This type of EV charging networks will compliment those being deployed by power grids and power companies, which are designed to provide convenient charging locations in vehicle concentration areas such as shopping areas, sports and music venues, hotels and resorts, restaurants, and other areas where vehicles are typically parked or stationary for longer periods. The result will be a tremendously enlarged and more convenient charging experience than is enjoyed today through the fuel station network model.
Palcans’ solutions represent some of world’s leading methanol to hydrogen to electricity technologies, deployed through its Methanol Reformed Sytems. A mixture of methanol and water is reformed to H2 and CO2 in the equipment. Then H2 and CO2 will be guided into the Fuel Cell Stack. In the stack, the hydrogen gas is reacted with the catalyst in the anode, which is separated into electrons and protons. The protons pass through PEM to combine with oxygen and electrons in the cathode to form water vapor. The electrons go through the external circuit and form a direct current (DC). DC-based electrical charging is the basis for fast-charging, as it is more efficient than charging fuel cells than the alternating current (AC) electricity used in homes and businesses.
NETS is exploring other technical partnerships to convert gas stations into energy stations with solid hydrogen to electricity, including solid hydrogen mixing with CNG and wireless fast charging options. The equipment supplied to the gas stations will be covered by lease financing agreements facilitated in conjunction with partners such as the previously announced agreement with Three Gorges Capital, one of China’s largest energy companies with significant financial resources.
SOURCE Ideanomics
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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