Fintech PR
Decarbonization, digitization and decentralization are accelerating the countdown to a new energy world faster than expected
Renewable energy technology advances, innovation in storage and digitization and increased distributed energy generation are accelerating the pace of the global energy transition, according to the latest EY research in collaboration with IDC, a leading global analyst house.
A year ago, EY teams and IDC mapped the major drivers to determine when three tipping points would forever change the way utilities do business and set the industry on a countdown to reinvention. The latest analysis, covering Europe, the US, Oceania, the Gulf Cooperation Council (GCC) countries, China, India and Latin America, indicates that these drivers are progressing faster than even the most ambitious estimates, bringing forward the tipping points by as much as two years.
Benoit Laclau, EY Global Energy Leader, says:
“A revolution in the power sector is driving rapid change in renewable energy supported by digital technologies, the falling cost of battery storage, and empowered consumers. These are quickly ushering in a new energy system, transforming our world into one where cleanly generated electricity will power almost every aspect of our lives”
The research identifies four key forces creating a combination of factors that compress the timeline to a new energy world.
Force 1: Better, cheaper technology
As a result of the accelerating shift toward utility-scale renewables, complemented by declines in the cost of decentralized generation-plus-storage solutions, 2018 is the seventh year in a row where new renewable energy capacity outstripped new conventional energy installations. Energy and digital technologies that accelerate renewable deployment, such as battery storage, electric vehicles, artificial intelligence and machine learning, have moved quickly from being emerging trends to integral parts of the energy system. The research indicates that battery innovation — in particular, the adoption of utility-scale storage — marks a major turning point that will drive momentum in other regions.
Force 2: Policy revisions and more ambitious clean energy targets
Around the world, governments are positively revising renewable energy targets, with many mandating big increases that are quickly shifting their country’s energy mix. As technologies and markets mature, countries are increasingly moving away from some of the policy mechanisms that drove early uptake in renewables. While feed-in policies remain the backbone of national support schemes, renewable tenders are becoming prominent.
Force 3: Renewable and behind-the-meter generation gaining momentum, especially among corporates
The analysis indicates that a powerful mix of consumer demand, sustainability targets and a desire to cut costs and secure energy supply is pushing companies to forge their own power purchase agreements (PPAs) or self-generate electricity. For many businesses, the main driver is economics, because significant reductions in renewable energy costs, as well as maturing market and policy environments, have made renewables an attractive source of energy in their own right. Meanwhile, the uptake of solar photovoltaic at a residential level continues to accelerate beyond expectations and community energy schemes are on the rise, impacting energy companies’ market share.
Force 4: Stakeholder action is reshaping energy investment
In the past few years, the funding landscape of the energy sector has changed significantly, with renewables and energy technologies attracting new types of funders. This includes private equity firms and venture capitalists who seek investments with smaller time frames and bigger potential for innovation. One of the major impacts seen is from activist investors as well as regulators, customers and the public, all of whom demand companies to focus on cleaner sources of electricity.
Jean-Francois Segalotto, Associate Research Director, IDC Energy Insights, says:
“This research and analysis has resulted in a multi-regional cost parity model for the energy industry that takes into account both distributed generation and storage, as well as several other enabling technologies. For those energy companies that are actively rethinking their business model, the results of this research provide a concrete horizon against which they can benchmark their action. For those that haven’t yet done so, the data provides one of the strongest calls to action.”
In addition to the above forces, “the electrification of everything” is a major factor that is underpinning this change in the energy mix. By 2050, nearly, 70% of the world’s population are expected to live in urban areas and 50% of total final energy consumption will be electricity. This indicates an electrification of buildings, heating, industry, data centers and transport being the critical lever in the building of sustainable climate-safe cities. In major energy markets, the phasing out of internal combustion engines in favor of electric vehicles (EVs), is a very visible and high impact part of this trend, and is bolstered by initiatives to reduce emissions and create urban mobility networks.
Laclau says: “As the countdown to a new energy world accelerates and a new distributed model emerges, energy companies must be agile and take on a proactive role in the transformation of the sector. But the challenges of the sector cannot be solved in isolation. When industry players, regulators, governments and companies in adjacent sectors work together, there is greater potential to unlock the innovation needed to address the most complex energy challenges.”
SOURCE EY
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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- 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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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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