Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Fintech PR

American, Finnish and Canadian governments fund oxygen plant at Tatu City SEZ, Kenya

Published

on

american,-finnish-and-canadian-governments-fund-oxygen-plant-at-tatu-city-sez,-kenya

Project will combat infant mortality rates and lessen fetal distress in East Africa

TATU CITY, Kenya, March 6, 2024 /PRNewswire/ — The governments of the United States, Finland and Canada are funding a sustainable, accessible and affordable medicinal oxygen manufacturing facility at Tatu City Special Economic Zone (SEZ), the 5,000-acre new city on Nairobi’s doorstep.

Hewatele, a medical oxygen producer in Kenya, has secured a USD 20 million funding package from the U.S. International Development Finance Corporation (DFC), Finnfund, Soros Economic Development Fund (SEDF), UBS Optimus Foundation and Grand Challenges Canada.

Hewatele will use the debt and equity funds raised to finance the building of a cutting-edge Cryogenic Medical Liquid Oxygen Air Separation Unit plant at Tatu Industrial Park. Set to commence operations in late Q1 2025, the facility will be the first modern liquid oxygen manufacturing plant located in East Africa in the last 60 years and help fill the escalating demand for medical-grade liquid oxygen in healthcare facilities across Kenya, Uganda and Northern Tanzania.

“Hewatele’s investment, backed by the world’s preeminent development finance institutions and foundations, represents a transformation of healthcare in Kenya and across East Africa,” said David Karimi, Deputy Country Head, Kenya, at Rendeavour, the owner and developer of Tatu City.

Dr Bernard Olayo, Founder of Hewatele, said: “This medical oxygen plant represents a significant leap in ensuring sustainable and affordable access to medicinal oxygen. The increased production capacity here at Tatu City will improve oxygen affordability, particularly for maternal and child healthcare, and enhance primary healthcare support.”

According to Kenya’s Ministry of Health, demand for medical oxygen has increased significantly since the COVID pandemic, from 410 tons per month to 880 tons per month. As a result, Kenyan hospitals frequently experience unpredictable deliveries, higher prices, and expensive transportation costs for medical oxygen. Due to the high production costs, fragmented delivery and storage options, medicinal oxygen is typically eight to ten times more expensive in sub-Saharan Africa than it is in Europe and North America. Hewatele’s facility will boost production of medical oxygen by least 20 tons per day, reducing the cost to its rural and urban healthcare customers by up to 30%. Improving access to oxygen and administering oxygen can reduce child mortality from pneumonia by 35% and lessen foetal distress and save lives when given to women during pregnancy.

“The rise of the COVID pandemic made everyone around the world aware of the importance of oxygen supply,” said Johanna Raehalme, Finnfund’s Head of Origination in Africa. “We are happy to add yet another important investment in our healthcare portfolio and see that the increased awareness of oxygen will ensure market demand for Hewatele going forward.”

Georgia Levenson Keohane, CEO of SEDF, said: “As a catalytic social impact investor focused on direct impacts and longer-term, systemic change, SEDF sees the investment in Hewatele as an important commitment to strengthening Africa’s rapidly expanding healthcare sector.”

Maya Ziswiler, CEO Optimus Foundation, said: “UBS Optimus Foundation invests in organizations that demonstrate clear impact and innovative and scalable business models. That’s why we were early supporters of Hewatele, as we see the impact and value of their business model and are now pleased to make a longer-term commitment for them to reach even more undersupplied rural and urban communities in East Africa with affordable and life-saving medical oxygen.”

“With our first base in Western Kenya, our expansion to Tatu City will create 50 new direct full-time jobs and over 100 indirect jobs, stimulating the local economy. We are honoured to be part of the healthcare ecosystem in Kiambu County,” added Dr Zulfiqar Wali, CEO of Hewatele.

More than 75 local, regional and global businesses are operational or under development in Tatu City’s business-friendly location, including CCI Global, Heineken, Dormans, Copia, Cooper K-Brands, Grit Real Estate Income Group, Twiga Foods, Freight Forwarders Solutions, ADvTECH, Friendship Group and Davis & Shirtliff. More than 3,000 homes and apartments are occupied or under construction, and 4,500 students study at Tatu City’s schools.

About Hewatele (www.hewatele.org

Hewatele is a pioneering medical solutions provider committed to enhancing healthcare services in East Africa. With a focus on innovation and sustainability, Hewatele strives to address critical healthcare challenges and contribute to the well-being of communities. Hewatele, together with its affiliates CPHD (The Center for Public Health and Development) and Mediquip Global, provides all-around oxygen solutions to all needy patients.

About Tatu City (www.tatucity.com

Tatu City is a 5,000-acre new city on Nairobi’s doorstep with homes, schools, businesses, a shopping district, medical clinic, nature areas and recreation for more than 250,000 residents and tens of thousands of day visitors. Tatu City’s schools educate thousands of students daily, a range of homes suits all incomes and more than 75 businesses thrive in the country’s first operational Special Economic Zone. Located 30 minutes from Westlands, Tatu City represents a new way of living and thinking for all Kenyans in a live, work and play environment that is free from traffic congestion and long-distance commuting.

Tatu City is a development by Rendeavour, Africa’s largest new city builder, with 30,000 acres of visionary projects in growth trajectories across Ghana, Nigeria, Kenya, Zambia and the Democratic Republic of Congo. Rendeavour is backed by American, New Zealand, British and Norwegian investors.

View original content:https://www.prnewswire.co.uk/news-releases/american-finnish-and-canadian-governments-fund-oxygen-plant-at-tatu-city-sez-kenya-302081263.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech PR

Invitation to presentation of EQT AB’s Q1 Announcement 2024

Published

on

invitation-to-presentation-of-eqt-ab’s-q1-announcement-2024

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

The following files are available for download:

https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

EQT AB Group

 

View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-q1-announcement-2024-302109147.html

Continue Reading

Fintech PR

Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

Published

on

kia-presents-roadmap-to-lead-global-electrification-era-through-evs,-hevs-and-pbvs
  • 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.”

Photo – https://mma.prnewswire.com/media/2380039/Photo_1__2024_CEO_Investor_Day.jpg
PDF – https://mma.prnewswire.com/media/2380040/Press_Release__2024_Kia_CEO_Investor_Day_240405.pdf

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/kia-presents-roadmap-to-lead-global-electrification-era-through-evs-hevs-and-pbvs-302109142.html

Continue Reading

Fintech PR

BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

Published

on

biovaxys-technology-corp.-provides-bi-weekly-mcto-status-update

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

Logo – https://mma.prnewswire.com/media/1430981/BIOVAXYS_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/biovaxys-technology-corp-provides-bi-weekly-mcto-status-update-302108920.html

Continue Reading

Trending