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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


  • 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.


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

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PTI Secures €1.2 Billion Multi-Jurisdiction Transaction




NEW YORK, Sept. 28, 2023 /PRNewswire/ — Phoenix Tower International, LLC (“PTI”), through its Spanish subsidiary (PTI Iberica V, S.A.) announced today that it has closed a new €1.2 billion senior credit facility in Europe to consolidate its existing loans and provide substantial additional capacity to support further growth both in existing and new markets in Europe. 

The transaction comprised of the following senior secured facilities: (i) a €700 million term loan, (ii) a €400 million delayed draw term loan, (iii) a €50 million revolving credit facility, and (iv) a €50 million debt service reserve facility, all of which are due in September 2030 (7 years). Proceeds from the facilities will be used to: (i) repay existing indebtedness including related fees and expenses,  (ii) fund capital expenditure requirements and acquisitions, including the recent acquisition of the French portfolio of wireless tower assets from Cellnex (1,226 sites hosting SFR), and (iii) fund working capital requirements.

“The multi-jurisdiction loan provides PTI with the flexibility to continue to grow our business across Europe with incremental liquidity available at our disposal. The financing will allow us to strengthen our commitment to the region, as we continue to construct and invest in digital infrastructure in markets that are experiencing a rising demand for connectivity and technological upgrades. We are excited to continue to expand our presence in Europe and deliver value-add infrastructure solutions to our customers”, said Dagan Kasavana, Chief Executive Officer of PTI.

“By providing a flexible financing covering multiple jurisdictions, PTI was able to simplify its capital structure, reduce pricing, and access incremental funds to support future growth. Raising €1.2 billion in the current market environment speaks to the strength of PTI’s business model and underscores the lender community’s appetite to support the expansion of digital connectivity. We are pleased to partner with such a strong lender group in this landmark transaction”, said Michael Bremer, Chief Financial Officer of PTI.

Natixis Corporate & Investment Banking (“Natixis”) acted as Structuring Bank. Natixis and Deutsche Bank AG acted as Lead Bookrunners and Mandated Lead Arrangers, ABN AMRO Bank N.V., ING Bank N.V., and Scotiabank (Ireland) Designated Activity Company acted as Mandated Lead Arrangers and Bookrunners, BNP Paribas and MUFG Bank acted as Mandated Lead Arrangers, and Citibank Europe PLC Dublin, Mizuho Bank Europe, and Toronto Dominion Bank acted as Participants. Natixis also acted as Facility Agent, Security Agent and Financial Modelling Bank, while ING Bank N.V. has been appointed as Sustainability Coordinator.

Freshfields Bruckhaus Deringer acted as external legal counsel of the company, and Allen & Overy acted as external legal counsel of the lenders.

About PTI

PTI, through its subsidiaries, owns and operates over 22,000 telecom towers throughout Europe, the United States, Latin America and the Caribbean. In Europe, PTI is present in several countries including France, Italy, Ireland, Malta and Cyprus.

PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world in high-growth markets. PTI’s investors include funds managed by Blackstone, Wren House and various members of the management team and is headquartered in Boca Raton, Florida. For more information, please visit

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BranchOut Food Inc. Expands Partnership with EnWave Corporation. Increasing Manufacturing Capacity by an Additional ~$15mm Annually & Secures Additional Product Exclusivities.




BEND, Ore, Sept. 28, 2023 /PRNewswire/ — BranchOut Foods Inc. (NASDAQ: BOF), the global trailblazer in GentleDried natural snacks and superfood ingredients, is proud to announce a significant expansion of its partnership with EnWave Corporation (TSX-V: ENW | FSE: E4U). BranchOut has agreed to purchase a second large-scale, continuous throughput dehydration machine from Enwave. Under the terms of the new Equipment Purchase Agreement (the “Agreement”), the 120kW REV™ machine is slated for delivery to BranchOut in late calendar 2024 and will add an additional $15mm in estimated topline capacity.

Eric Healy, CEO of BranchOut Food Inc., emphasized, “We are confident that this increased capacity will align perfectly with our growth trajectory, especially in light of our recent commitments from major retailers and the substantial sales pipeline we have established.”

Enwave’s Radiant Energy Vacuum (REV™) technology and associated patent portfolio was previously licensed to BranchOut along with exclusivity for its original core products. Under the new Agreement, the product exclusives have been significantly expanded to encompass the new and innovative products BranchOut has recently developed and will be launching in the very near future.

About BranchOut Food Inc.: BranchOut is an international food-tech company delivering truly great natural snacks and real superfood ingredients enabled by their licensed dehydration technology. BranchOut Food is a leading provider of high-quality dehydrated fruit and vegetable-based products and its commitment to quality and innovation sets it apart as a trusted brand and private label supplier. For more information about BranchOut Food Inc. and its products, please visit

About EnWave: EnWave Corporation stands as a global leader in vacuum microwave dehydration innovation and application. Operating from its headquarters in Vancouver, BC, EnWave boasts an impressive intellectual property portfolio and has refined its Radiant Energy Vacuum (REV™) technology into a proven, consistent, and scalable drying solution. This revolutionary technology outperforms traditional drying methods in terms of efficiency, capacity, product quality, and cost.

Media Contact:

BranchOut Food Inc. 
Email: [email protected]

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SIGMA Financial AI unveils Akili-AI: Cutting-Edge, AI-based, no-code suite of tools for traders




– Augments trader’s interactions and transforms decision-making capabilities

– Handles the full extent of structured to unstructured financial data

– Mitigates portfolio exposure risk and accelerates speed to market

LONDON, Sept. 28, 2023 /PRNewswire/ — SIGMA Financial AI, an innovator in developing AI-driven trading solutions, launches Akili-AI*, a sophisticated suite of enterprise-ready trading strategy tools. Akili-AI is a cutting-edge, no-code solution enabling data-driven insights to support the specialist needs of the global financial services trading community.

Akili-AI incorporates machine learning (ML) and natural language processing (NLP) to deliver agile tools which are more intelligent, faster and easier to use, enabling traders to create strategies at a scale and speed unachievable without AI support. Completely asset-class and instrument-agnostic, the Akili-AI system streams real-time trading data, allowing users to screen, test and design complex trading strategies promptly. 

Their SaaS-based Pattern matching platform (Patterns as a Service) helps traders monitor thousands of instruments in real-time, scanning charts for momentum changes, technical signals, support, and resistance zones. The NLP research function supports fundamental and technical qualifications from thousands of news, social media and traders’ data. Akili-AI’s flexible modular architecture, built using modern protocols, is cloud-based and scales to support the largest trading enterprises.

Andy Simpson, Co-founder and CEO, commented, “Traders are having to cope with a constant squeeze on their book; this, combined with a huge increase in data volumes, has created the need for transformative solutions which can help them find an edge. They need the ability to find new liquidity fast, enhance their trade execution capabilities, and reduce portfolio risk; Akili-AI can deliver all this at a lower cost point and faster than ever.”

“Akili-AI transforms market interaction and improves productivity by liberating traders from the constraints imposed by long-established, outdated working practices and legacy technology infrastructures. Accelerated speed to market is crucial in an industry where every second counts. Our mission is to provide AI-based solutions which enhance the human experience – not replace them – helping to generate more revenue and increased profitability,” Andy continued.

Rob Maunder, Co-founder and Chief Commercial Officer, said, “Our pioneering and creative team is an unusual blend of deep financial services experience, phenomenal engineering and world-class AI technologists who bring an unrivalled track record of developing new platforms at pace. We break the mould by delivering incredible engineering of low-latency, highly scalable systems drawing on more than a decade of generative AI experience in the social media and music industries.”

Andy concluded, “Akili-AI is the start of a refreshingly different journey of technological change; watch this space. There is much more to come.”

Akili-Ai will be showcased in the Innovators Pavilion at the FIA’s Futures and Options Expo on October 2-3, 2023 at the Sheraton Grand Chicago Riverwalk.

*Akili is the Swahili word for intelligence.

About SIGMA Financial AI:

We provide traders with a set of tools that are faster, smarter and easier to use. Our AI machine learning product suite unlocks trading opportunities through real-time analytics underpinned by world-leading, scalable, ultra-low latency architecture.

Note to Editors: For more information about SIGMA Financial AI, please visit

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