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

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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.”

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“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

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BingX Joins NBX 2025 as a Gold Sponsor: Empowering Blockchain Innovation

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PANAMA CITY, March 15, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce its participation as a Gold Sponsor at the 5th edition of Next Block Expo (NBX), scheduled for March 19-20, 2025, at Multikino Złote Tarasy in Warsaw, Poland. As one of Europe’s premier Web3 events, NBX 2025 is expected to attract over 2,000 attendees, making it a key platform for blockchain innovation and collaboration.

NBX serves as a dynamic hub for industry leaders, startups, investors, and developers, fostering knowledge-sharing and networking opportunities to drive the future of blockchain. As a firm advocate for Web3 advancements, BingX will showcase its ongoing commitment to innovation through an interactive booth, featuring engaging activities, expert insights, and exclusive giveaways. Attendees will gain firsthand knowledge of how BingX supports high-potential blockchain projects with financial backing, technical expertise, and strategic growth consultations.

In addition to its sponsorship, Vivien Lin, Chief Product Officer of BingX, will be a key speaker at NBX 2025, contributing to discussions on strategic trading approaches, risk management, and the evolving landscape of blockchain investments. She will also deliver a keynote speech exploring BingX’s vision for blockchain innovation and how the company translates emerging technologies into real-world applications.

“At BingX, we believe that true innovation comes from bold ideas and strategic execution,” said Lin. “Sponsoring NBX 2025 is more than just a presence for us — it’s a commitment to fostering a thriving blockchain ecosystem. We are here to connect with visionaries, provide the resources they need, and help shape the future of decentralized technology. By empowering builders and innovators, we’re not just supporting projects — we are accelerating the evolution of Web3 itself.”

BingX’s participation at NBX 2025 underscores its long-term vision of driving blockchain innovation and supporting the next generation of industry leaders. As BingX continues to expand its global footprint, initiatives like this sponsorship reinforce its role as a catalyst for growth in crypto space. By engaging with emerging projects, thought leaders, and investors, BingX remains at the forefront of Web3 advancements, bridging the gap between groundbreaking ideas and real-world impact.

About BingX 

Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/

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Great Bay Insurance Group announces executive changes

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WEST ATLANTIC CITY, N.J., March 14, 2025 /PRNewswire/ — The Great Bay Insurance Group (the “Group”), a leading provider of coastal homeowners’ insurance in New Jersey, today announced the following leadership changes. Timothy J. Byrne, Jr., has been named as President of the Group and Ronald R. Lovatt has been named President of Great Bay Insurance Company, a wholly owned affiliate of the Group.

Mr. Byrne Jr. has nearly 15 years of industry experience and previously served as the Group’s Chief Operating Officer overseeing the Groups operations and underwriting strategies. 

Mr. Timothy J. Byrne, Sr., Chief Executive Officer of the Group, added, “I’m excited to announce the promotion of Tim Jr. to the role of President of The Great Bay Insurance Group and Ron to the role of President of Great Bay Insurance Company. Tim Jr. and Ron have been an integral part of the Group since its founding in 2019.”

As President, Tim Jr. will provide oversight for all corporate support functions and will continue to report to Tim Sr. 

Mr. Byrne Jr. holds a BS in Economic and Mathematics from the University of Vermont, an MBA in Risk Management and Insurance from St. John’s University and holds a CPCU designation.

Mr. Lovatt has 40 years of broad insurance industry experience in leadership capacities with international, national, regional and start-up insurance companies. Ron is a founding member of The Great Bay Insurance Group, working with Tim Sr. & Tim Jr. to launch Great Bay in late 2019. Ron currently serves as Chief Underwriting Officer & Chief Claims Officer for The Great Bay Insurance Group, has an MBA from The Wharton School of the University of Pennsylvania, and a Bachelor of Science degree in Economics, Finance, Accounting & Marketing from Miami University.

Contact:
Investor Relations
Brian Schleider, CPA
Chief Financial Officer
609-434-2000, x102

[email protected]

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Cision View original content:https://www.prnewswire.co.uk/news-releases/great-bay-insurance-group-announces-executive-changes-302401923.html

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Forward Global responds to surge in UK shareholder activism with launch of UK Corporate Contests Practice

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LONDON, March 14, 2025 /PRNewswire/ — International risk management firm Forward Global launched its UK Corporate Contests Practice on Tuesday in response to what is described as “all-time high of shareholder activism” in London and Paris. 

Speaking ahead of the launch on Tuesday night, Brendan Foo, Partner and Global Head of Corporate Contests at Forward Global, said “As activism gains currency as an asset class, savvy investors are looking toward the UK and Europe to generate alpha. Indeed, in 2025 alone, we have seen an unprecedented demand for our services not just in our traditional strongholds of the US and Canada, but also in the UK and Europe. This reflects the surge in activist (and active) engagements, with which our team is uniquely well-placed to assist.”

Forward Global’s Corporate Contests Practice was established to meet demand from law firms, investors, and advisers to provide a comprehensive suite of services to support companies in high-stakes shareholder engagements. In keeping with the firm’s established activism practice in the US, the new London offering will deliver investigative and intelligence work such as vetting board nominees, relationship mapping, scrutinizing the track records of both incumbents and challengers, and conducting deep-dive reputation analyses. In Europe, Forward Global’s Patrice Lambert-de Diesbach offers clients battle-tested expertise in investor relations and financial communications.

Shareholder activism in the UK has expanded significantly, with campaigns becoming more frequent and sophisticated. In 2023, the number of new public activist campaigns in Europe surged by 68%, with the UK remaining a primary target. US-based activist investors have also increased their focus on UK firms, launching 40% of all UK activist campaigns in 2024. With contested boardroom battles and regulatory shifts on the rise, the expansion of Forward Global’s Corporate Contests practice into the UK is well-timed, equipping issuers with the intelligence and strategies needed to navigate this evolving landscape.

The firm launched the new practice at an exclusive gathering at the International Institute of Strategic Studies in London, bringing together leading voices from the shareholder activism space to discuss the evolving landscape of transatlantic shareholder activism.

The panel discussion, featuring Brendan Foo, Patrick J. McHugh of Okapi Partners, and Sebastian Fain of Freshfields, explored critical considerations for US investors entering the UK market and vice versa, differences in engagement styles across jurisdictions, and strategies for issuers to proactively engage with both activist and active investors. Panelists also examined the impact of anti-DEI and ESG sentiment on investor relations in the UK, as well as how issuers can adapt to evolving regulatory and institutional expectations.

John Watts, Managing Partner of Forward Global UK, added, “Forward Global’s new UK Corporate Contests Practice is designed to provide companies with the strategic intelligence and investigative depth needed to navigate an increasingly complex activist landscape. Our team is committed to equipping clients with the tools to engage proactively with investors, safeguard their strategic interests, and strengthen shareholder relations across Europe.”

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Notes for Editors

Forward Global is an international group, with its historic headquarters in France, boasting five main offices in Paris, Brussels, London, Miami, and Washington. As a leading player in risk management with over 450 employees and 30 partners, Forward Global offers an integrated approach across the three major risks: digital, economic, and informational.

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