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BII and Idemitsu partner with Skye Renewables to accelerate decarbonisation in South-East Asia

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  • A joint investment from BII and Idemitsu will support the renewable energy platform’s target to build over 300 MW of greenfield solar power capacity for commercial and industrial customers in the region.
  • The solar projects are expected to help displace consumption of on-grid electricity and avoid 270,000 tonnes of CO2 emissions annually. 

SINGAPORE, March 26, 2024 /PRNewswire/ — British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, and Idemitsu Kosan (IKC), one of Japan’s leading energy companies, today announced a joint investment into Skye Renewables Energy Pte Ltd. (Skye), a South-East Asia-focused renewable energy platform, forming a strong partnership to support the development of greenfield solar projects and decarbonisation of the region.

South-East Asia is a region with an increasing demand for power and a high reliance on fossil fuels which creates an opportunity for the growth of renewable energy as part of decarbonisation efforts. While primary energy demand in the region is expected to grow by 1.8 times by 2050, renewable energy demand is estimated to grow by 4.4 times based on the current policy landscape.[1]

Established in 2022, Skye develops solar projects and provides off-grid clean energy to commercial and industrial (C&I) customers in the region including the Philippines, Vietnam, Singapore and Malaysia, under long term power purchase agreements.

The C&I sector accounts for a significant portion of energy demand in South-East Asia. Providing solar power to C&I businesses offers a good opportunity to keep pace with the region’s growing energy demand in a sustainable way and help countries to achieve their sustainability goals. Governments have introduced supportive policies for this nascent segment to scale clean energy deployment in C&I sectors and accelerate energy transition across the region.

Drawing from BII and IKC’s extensive track record in the renewable energy sector globally, the investment aims to support the region’s sustainability goals by transforming Skye into a scaled-up regional renewable energy platform with a solar capacity of over 300MW in the coming years.

As Skye grows, the solar projects are expected to help avoid 270,000 tonnes of CO2e annually, which is equivalent to the emissions generated by over 47,000 homes’ electricity use in a year. 

Kara Owen, British High Commissioner to Singapore, said: “The UK and Singapore committed under the UK-Singapore Strategic Partnership and Green Economy Framework to deepen our government and private sector collaboration in the South-East Asian region so that we can effectively support sustainable infrastructure and investment. This is vital to ensure we’re working together as closely as we can, to support regional climate, green economy, and energy transition goals. 

BII is a unique and valuable part of the UK’s development and investment partnership toolkit, and I’m delighted to see their progress since opening their Indo-Pacific office in Singapore nearly 18 months ago. This first direct equity investment by them in South-East Asia will support Skye Renewables to scale up renewable energy solutions in an important and growing area of decarbonisation need: the commercial and industrial sector. It will unlock clean energy, create green jobs, and bring the closer collaboration and investment in the region’s sustainable development that the UK wants to see.”

Srini Nagarajan, Managing Director and Head of Asia at BII, said: “This investment marks the first direct equity investment by BII in South-East Asia since our re-entry to the region in 2022. Skye provides BII the opportunity to work with experienced partners like IKC, to scale up this renewable energy platform that will benefit the region. Our goal is to boost climate finance in the region and so we look forward to supporting more greenfield renewable energy capacity and local governments’ efforts on decarbonisation.”

Hiroshi Yoshida, General Manager of Power & Renewables Business Department at IKC, commented: “We formed a partnership with Skye in 2022 and have made significant progress in the C&I rooftop solar space in South-East Asia. Now, with the addition of BII as a new partner to Skye, who has a proven track record of success in the global renewable energy sector, we believe it will create great synergy among us. By leveraging the strengths of each company, we aim to further grow Skye as a renewable energy platform in South-East Asia and contribute to a decarbonised society.”

Ross Coull, Founder of Skye Renewables, commented: “We are absolutely delighted that BII has chosen Skye as their first direct equity investment in South-East Asia. Their track record in renewable energy across multiple markets is extensive and I am sure that they will bring a huge amount of value to Skye; they will be a great partner to support our ambitions of decarbonising corporate activity in the region.”

This investment supports UN SDG 7 on Affordable and Clean Energy and SDG13 on Climate Action.  

Notes to editors:

About British International Investment

  • British International Investment is the UK’s development finance institution and impact investor.
  • British International Investment is a trusted investment partner to businesses in Africa, Asia and the Caribbean.
  • It invests to support the UK Government’s Clean Green Initiative and to create productive, sustainable and inclusive economies in our markets.
  • Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance.
  • BII intends to deploy up to £500m in climate finance projects in Southeast Asia to support decarbonisation in the region.
  • BII is also a founding member of the 2X Challenge which has raised over $27billion to empower women’s economic development.    
  • The company has investments in over 1,470 businesses across 65 countries and total assets of £8.1 billion.
  • For more information, visit: www.bii.co.uk | watch here.
  • Follow British International Investment on LinkedIn and X.

About Idemitsu  

  • Established in 1940, Idemitsu is one of Japan’s leading producers and suppliers of energy.
  • Idemitsu operates through 67 business bases across the world, in the areas of fuel oil, petrochemicals, lubricants, electronic materials, electric power and renewable energy, oil and gas development, and coal.

About Skye

  • Skye Renewables is an energy-as-a-service solar company with operations in Philippines, Vietnam, Singapore and Malaysia.
  • The company supports blue chip organisations by deploying solar systems on their premises and selling them the renewable energy via long-term contracts.
  • In addition, as the regulations continue to develop in South-East Asia, Skye Renewables can provide renewable energy from larger ‘off-site’ systems.
  • For more information, visit: www.skyerenewables.com.

[1] https://www.iea.org/reports/southeast-asia-energy-outlook-2022/key-findings

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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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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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

 

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

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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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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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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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