Fintech PR
Desert Control releases its H1 and Q2 2023 Report and Year-to-Date Company Update
Desert Control concludes strategic review, initiates transition to licensed operator model for the Middle East, delivers on target for the United States, and obtains key regulatory approvals. The Company closes the quarter with an outlook for significant cost reductions, improved capital efficiency, and strengthened liquidity.
SANDNES, Norway, Aug. 24, 2023 /PRNewswire/ — Desert Control AS (DSRT) announces its second quarter and first half report for the fiscal period ending 30 June 2023.
Q2 and First Half 2023 Highlights
Corporate
- Completed strategic review, initiating the transition to a licensed operator model for the Middle East, unlocking cash, and reducing annual operating costs by >NOK 15M.
- Secured NOK 10M from a private placement and an additional ≈NOK 30M cash from asset sales and licensed operator transactions (impacting H2-2023 financials).
- Achieved >2X increase in production capacity for all existing LNC production units, significantly improving unit economics and extending the reach of deployed CAPEX.
- Received global recognition, won sustainability and environment award at the Entrepreneurship World Cup Global Finals, named Green Impact of the Year at Norwegian Impact Awards, and announced Top Innovator by the World Economic Forum and winner in the Uplink Challenge for Food Ecosystems in Arid Climates.
United States
- Secured ten new pilots in H1- 2023, delivered on target, and expanded LNC application capabilities across various new crops and segments.
- Steadily progressing toward conversion to larger deployments. Around the end of the year, the Company anticipates starting negotiations for the inaugural large-scale contract.
- Obtained regulatory approval with OMRI certification in compliance with the USDA National Organic Program for LNC in the United States.
- Achieved 30X improvement in efficiency and scalability of LNC application since July 2022. Demonstrated further operational efficiencies, including applying LNC through irrigation systems and streamlining the execution of pilot projects.
Middle East
- Signed strategic licensed operator agreement for Mawarid Holding Investment (MHI) to take full responsibility for the production, sales, and delivery of LNC in the United Arab Emirates (UAE).
- Securing significant cost reductions by removing the need for local subsidiaries in the UAE following the transition to the licensed operator model.
- Achieved final regulatory approval by the Ministry of Climate Change and Environment (MOCCAE) authorizing LNC for sale and use across all sectors in the UAE.
- Entering the Kingdom of Saudi Arabia through the signing of strategic licensed operator agreements with H-EART.
Financial Highlights Second Quarter 2023
[second quarter 2022 in brackets]
- Revenue NOK 0,5 M 2 [NOK 0,5 M]
- EBITDA NOK -19,5 M [NOK -20,3 M]
- Net Income NOK -18,2 M [NOK –16,8M]
- Gross R&D expenses NOK 0,3 M [NOK 0,9 M]
Financial Highlights First Half 2023
[first half 2022 in brackets]
- Revenue NOK 2,3 M 2 [NOK1 M]
- EBITDA NOK -42,9M [NOK -43,1M]
- Net Income NOK -37,5M [NOK –40,5M]
- Gross R&D expenses NOK 0,6 M [NOK 2,9 M]
- Total cash balance 30.06.23 (bank deposits and funds) NOK 42,0 M 1 [NOK 122,9 M]
- Equity 30.06.2023 NOK 68,0 M (equity ratio 89,6%) [NOK 150,4 (92,4%)]
1 Private placement of NOK 10M by issue of 1M DSRT shares to H-EART as strategic anchoring of the licensed operator partnership for KSA will be reflected in the cash balance as of August 2023.
2 ≈NOK 30M (USD 2.8M) revenues from initial licensed operator agreement transactions and asset sales are anticipated to be recognized in H2-2023.
CONTACT:
For more information, please contact:
Ole Kristian Sivertsen
President and Group CEO
Email: [email protected]
Mobile (NOR): +47 957 77 777
Mobile (USA): +1 650 643 6136
Mobile (UAE): +971 52 521 7049
Leonard Chaparian
Chief Financial Officer
Email: [email protected]
Mobile (NOR): +47 90 66 55 40
The following files are available for download:
|
Desert Control Q2 Report |
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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