Day: March 30, 2023

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The Coretec Group Announces Two Upcoming Broadcast Calls

Company to participate in a technology-focused call with panelists as well as a shareholder meeting in May

ANN ARBOR, Mich., March 30, 2023 (GLOBE NEWSWIRE) — The Coretec Group (OTCQB: CRTG), developers of silicon anode active materials for lithium-ion batteries and cyclohexasilane (CHS) for EV, cleantech, and emerging tech applications, today announced that it will host and participate in two upcoming calls – one being a shareholder call addressing shareholder questions, reflecting on recent achievements and demonstrating the path forward, and the second focused on the current battery landscape with energy storage industry leaders.

The shareholder call will take place on Thursday, May 18th at 10:00 am ET and will be led by CEO Matt Kappers and VP of Partnerships and Innovation, Dr. Michelle Tokarz. It will outline advancements made within Coretec’s Endurion battery development program for EV application, IP updates, and clear next steps for the Company as it moves forward in the commercialization of its product.

The technology call will center more on industry happenings, hurdles, and advancements related to the manufacturing, supply chain, and commercialization of next generation EV batteries, giving the Endurion team the opportunity to discuss their solution. The Company will share an announcement about this call, which will include members of other organizations and an independent host, in the coming weeks.

Both calls are intended to inform shareholders and partners, and highlight Coretec’s suite of technology products, as well as the critical market needs it seeks to address.

The Company will provide call access information via press release and social media in advance of the calls. Please follow on Twitter at @CoretecGroupInc or the Company’s LinkedIn page.

About The Coretec Group

The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.

For more information, please visit thecoretecgroup.com.

Follow The Coretec Group on:

Twitter – @CoretecGroupInc
LinkedIn – www.linkedin.com/company/24789881
YouTube – www.youtube.com/channel/UC1IA9C6PoPd1G4M7B9QiZPQ/featured

Forward-Looking Statements

The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.

Corporate Contact:

The Coretec Group, Inc.
Lindsay McCarthy
info@thecoretecgroup.com
+1 (866) 916-0833

Media Contact:

Spencer Herrmann
FischTank PR
coretec@fischtankpr.com
+1 (518) 669-6818

GlobeNewswire Distribution ID 8798974

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Vista Equity Partners Completes Acquisition of Duck Creek Technologies

Boston, March 30, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies (“Duck Creek”), the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, today announced the completion of its acquisition by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses, for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.

“We are excited to commence our partnership with Vista Equity Partners and work together to advance the next generation of P&C insurance technology,” said Michael Jackowski, Chief Executive Officer of Duck Creek. “With Vista’s global network and deep sector expertise, we will be better positioned to support and accelerate the industry’s transition to the cloud while continuing to deliver a best-in-class customer experience.”

“Duck Creek is a demonstrated leader in the P&C space, delivering innovative solutions that empower carriers to be faster and more nimble in servicing the digital needs of their customers,” said Monti Saroya, Senior Managing Director and Co-Head of Vista’s Flagship Fund. “We look forward to partnering with Mike and the Duck Creek team as they continue to scale and define the future of P&C insurance technology.”

“We’re excited to welcome Duck Creek to the Vista ecosystem,” said Jeff Wilson, Managing Director at Vista. “Their commitment to excellence and innovation coupled with Vista’s experience in driving sustainable growth will take the business to new heights while delivering solutions that help carriers transform their business.”

Duck Creek has earned the right to partner with and provide its modern technology solutions to an esteemed list of leading carriers across the globe, including Berkshire Hathaway Specialty Insurance, Hollard Insurance, Northbridge Financial Corporation and Tokio Marine.

With the completion of the transaction, Duck Creek Technologies shares have ceased trading and are no longer listed on the Nasdaq Global Select Market.

J.P. Morgan acted as financial advisor to Duck Creek, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Duck Creek.

Evercore acted as financial advisor to the Special Committee of the Duck Creek Board of Directors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Special Committee of the Duck Creek Board of Directors.

RBC Capital Markets acted as financial advisor to Vista, and Kirkland & Ellis LLP acted as legal counsel to Vista.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

About Vista Equity Partners

Vista is a leading global investment firm with more than $95 billion in assets under management as of September 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

Carley Bunch
Duck Creek Technologies
+1 (201) 962-6091
carley.bunch@duckcreek.com

GlobeNewswire Distribution ID 8798688

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Moderna Finalizes Agreement with the Government of the Republic of Kenya to Establish an mRNA Manufacturing Facility

Facility to enable access to manufactured mRNA vaccines for Kenya and the African continent, providing health security and building upon Moderna’s global public health commitments

The facility will be capable of producing up to 500 million doses each year

CAMBRIDGE, MA & NAIROBI, KENYA/ ACCESSWIRE / March 30, 2023 / Moderna, Inc. (NASDAQ:MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, and the Government of the Republic of Kenya have finalized an agreement to establish an mRNA manufacturing facility in the Republic of Kenya. This will be the Company’s first mRNA manufacturing facility in Africa.

In partnership with the Government of the Republic of Kenya, Moderna will build a state-of-the-art mRNA facility in Kenya to produce up to 500 million doses of vaccines each year. The Company expects the new facility to enable drug substance and drug product manufacturing for Kenya and the African continent. In addition, this facility will have surge capacity to rapidly scale and respond to public health emergencies on the continent and around the world.

“The finalization of our agreement with the Government of the Republic of Kenya is a key pillar of our global public health strategy, where we hope to bring mRNA innovation to the people of Africa in areas of high unmet need, such as acute respiratory infections, as well as persistent infectious diseases like HIV and outbreak threats such as Zika and Ebola,” said Stéphane Bancel, Chief Executive Officer of Moderna. “This also demonstrates our confidence in the investment climate in Kenya and the importance of utilizing mRNA technology to build resilience in healthcare security in Africa. We are also grateful for the leadership of the U.S. Ambassador to Kenya, Meg Whitman, and Samantha Power, in her role as Administrator of the United States Agency for International Development for their instrumental support of this project.”

“We are excited about this milestone that brings to bear our efforts as Government to sustain our economic model of facilitating investments that serve not only Kenya but the African continent. My Government commits to supporting this investment as a critical signal to the investment community that Kenya is open for business,” said President William Ruto.

“This investment creates the momentum to meet the $10 billion annual target under the Government’s manufacturing 20 by 30 vision, where we plan to grow the contribution of manufacturing to GDP to 20% by the year 2030 from the current 7%,” said Kenya’s Cabinet Secretary for Investments, Trade, and Industry Hon. Moses Kuria.

The Government of Kenya has championed an accelerated investment agenda to grow foreign direct investment levels from the current levels of $448 million annually to $10 billion annually, making the country’s goal the continent’s most ambitious agenda to attract investments as an enabler to job creation. Moderna’s investment signifies confidence in the business environment in Kenya and readiness to support foreign and local investment in the healthcare sector, as well as Moderna’s ongoing commitment to global public health. Moderna will operate under a Special Economic Zone (SEZ) status, signifying Kenya’s increasing focus on the SEZ program as a key enabler of economic growth.

With this agreement, Moderna has commitments to establish mRNA manufacturing facilities in Kenya, the United States, Canada, Australia, and the United Kingdom, furthering health security around the world. Moderna has spent more than a decade refining its mRNA platform to accelerate the pace and success of mRNA medicines. The speed, scale, and flexibility of Moderna’s mRNA platform is uniquely suited for rapid response to serious international epidemics, commonly referred to as Disease X.[i]

Moderna is committed to advancing into clinical studies a portfolio of 15 vaccine programs targeting emerging or neglected infectious diseases by 2025, advancing vaccines that address current diseases of significant impact to low- and middle-income countries, and those that prepare for Disease X. Moderna will prioritize development efforts against pathogens identified as persistent global health threats, including HIV, tuberculosis (TB) and malaria, neglected tropical diseases and the priority pathogens of the World Health Organization and the Coalition for Epidemic Preparedness Innovations. Learn more at https://www.modernatx.com/responsibility/our-commitment.

About Moderna

In over 10 years since its inception, Moderna has transformed from a research-stage company advancing programs in the field of messenger RNA (mRNA), to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across seven modalities, a broad intellectual property portfolio, and integrated manufacturing facilities that allow for rapid clinical and commercial production at scale. Moderna maintains alliances with a broad range of domestic and overseas government and commercial collaborators, which has allowed for the pursuit of both groundbreaking science and rapid scaling of manufacturing. Most recently, Moderna’s capabilities have come together to allow the authorized use and approval of one of the earliest and most effective vaccines against the COVID pandemic.

Moderna’s mRNA platform builds on continuous advances in basic and applied mRNA science, delivery technology, and manufacturing, and has allowed the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases. Moderna has been named a top biopharmaceutical employer by Science for the past eight years. To learn more, visit www.modernatx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: the Company’s plans to build an mRNA manufacturing facility in Kenya; the anticipated capacity and output for that facility; the ability of the facility to respond to public health emergencies; Moderna’s aspiration to develop treatments or vaccines against HIV, Zika, Ebola, and other public health pathogens; the ability of Moderna’s mRNA platform to respond to future epidemics; foreign investment in the health sector in Kenya; the advantages of doing business in a Kenyan Special Economic Zone; and Moderna’s plans to establish manufacturing facilities in the United State, Canada, United Kingdom, and Australia. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “could,” “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission (SEC), which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.

Moderna Contacts:

Media:

Luke Mircea Willats
Senior Director, Corporate Communications
Luke.Mirceawillats@modernatx.com

Investors:

Lavina Talukdar
Senior Vice President & Head of Investor Relations
617-209-5834
Lavina.Talukdar@modernatx.com

[i] “Disease X” was named by the WHO to represent the knowledge that a serious international epidemic could be caused by a pathogen currently unknown to cause human disease. https://www.who.int/activities/prioritizing-diseases-for-research-and-development-in-emergency-contexts

SOURCE: Moderna, Inc.

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Hitachi Energy and Petrofac secure landmark offshore wind agreement worth approximately 13 billion euros

Largest framework agreement in Hitachi Energy company history, enabling long-term capacity expansion to accelerate the energy transition.Complementary technologies and expertise support TenneT’s offshore wind capacity expansion in the German and Dutch sectors of the North Sea.

Zurich, Switzerland, March 30, 2023 (GLOBE NEWSWIRE) — Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, and Petrofac, a leading international service provider to the energy industry, have been selected by TenneT, the Dutch-German transmission system operator, to supply multiple offshore and onshore HVDC converter stations and associated infrastructure to accelerate the integration of bulk renewables into European power grids.

Hitachi Energy and Petrofac were awarded the multi-year framework agreement as part of TenneT’s ambitious offshore wind “2GW Program”1, based on high-voltage direct current (HVDC) technology pioneered by Hitachi Energy.

The agreement includes an initial commitment to deploy six record-breaking renewable integration systems, five of which will connect offshore wind farms to the Dutch grid and the sixth to the German grid. Each of these connection systems has a capacity of 2 gigawatts (GW) and a voltage level of 525 kilovolts (kV) – a world-first for offshore wind.

This landmark framework agreement is the largest ever for Hitachi Energy. It confirms the opportunity to innovate how state-of-the-art technology can be deployed effectively and how new business models enable the scale needed for the green energy transition. The framework agreement approach allows Hitachi Energy and Petrofac to plan in advance and increase their workforce and manufacturing capacity timely as well as train people to have the skills needed in the industry while also capturing synergies between successive projects to meet the in-service dates.

Hitachi Energy will supply its HVDC Light® converter stations, which convert AC to DC power offshore and DC to AC onshore. Petrofac will undertake the engineering, procurement, construction and installation (EPCI) of the offshore platforms and elements of the onshore converter stations.

The first contract under the framework, for the Ijmuiden Ver Alpha project, was awarded with immediate effect. The second, Nederwiek 1, is expected to be awarded later in the year. The framework also includes projects Doordewind 1, Doordewind 2, Nederwiek 3 and LanWin5, expected to be awarded over a 2024-2026 timeframe.

“This innovative business model will set the course for the integration of a huge amount of offshore wind power and gives visibility of the future.  In fact, we are already hiring to expand our global delivery capacity and effectively fulfill these and other orders,” said Niklas Persson, Managing Director at Hitachi Energy’s Grid Integration business. “We’re proud to be part of this journey and, along with our partner Petrofac, we are setting the benchmark for deploying offshore HVDC technology at scale and with speed.”

“Today’s announcement represents an exciting next step in Petrofac and Hitachi Energy’s collaboration. We have already secured key resource and the yard capacity required to expedite the first two projects in TenneT’s ground-breaking program,” said Sami Iskander, Petrofac’s Group Chief Executive. “By combining Petrofac’s industry-leading EPCI expertise and Hitachi Energy’s well proven technology, we look forward to supporting TenneT to connect larger, more effective wind farms to deliver affordable clean energy for millions of European homes.”

“TenneT has the technical know-how, scale, and geographical position to connect wind energy from the North Sea. This is one of the most important infrastructure projects of the century; the green transformation of the energy system is key for the decarbonisation of industry,” said Tim Meyerjürgens, COO of TenneT. “Together with our market partners, we are very proud to have achieved another important milestone. Together we secure decisive acceleration of the offshore grid development and set the course for the future European energy landscape.”

“The new long-term approach goes hand in hand with a fundamental change in values towards a strong partnership. This approach enables both sides with more flexibility, technological progress, and planning security,” said Marco Kuijpers, Director Large Projects Offshore of TenneT.  This benefits all parties and secures employment, growth, and the strengthening of supply chains. We can already see that our partners invest in extra resources and facilities.”

Hitachi Energy and Petrofac began working together in June 2022, to provide joint grid integration and associated infrastructure solutions to support TenneT’s 2GW Program.2

In the same year, Germany, the Netherlands, Denmark and Belgium agreed to install at least 65 gigawatts of offshore wind energy combined by 2030 announced with the inter-governmental Esbjerg Declaration.3 At 40 gigawatts, almost two-thirds of this capacity is accounted for by TenneT, with 20 gigawatts each in the German and Dutch North Sea sectors.

1 TenneT’s 2GW Program
2 Hitachi Energy and Petrofac to collaborate in growing offshore wind market
3 The Esbjerg Declaration

HVDC website:
https://www.hitachienergy.com/offering/product-and-system/hvdc

About Hitachi Energy Ltd.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.
https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://twitter.com/HitachiEnergy

About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

About Petrofac
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.

Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world’s evolving energy needs. Our four values – driven, agile, respectful and open – are at the heart of everything we do.

Petrofac’s core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, Southeast Asia and the United States. We have 8,000 employees based across 31 offices globally.

Petrofac is quoted on the London Stock Exchange (symbol: PFC). For additional information, please refer to the Petrofac website at www.petrofac.com

Media contacts:
Jocelyn Chang
Global Head of Public Relations & Content Strategy
Hitachi Energy
jocelyn.chang@hitachienergy.com

Sophie Reid
Group Head of Communications
Petrofac
sophie.reid@petrofac.com

Attachment

Jocelyn Chang
Hitachi Energy
jocelyn.chang@hitachienergy.com

GlobeNewswire Distribution ID 8798527

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LMRA conducts two joint inspection campaigns in Capital and Muharraq Governorates

The Labour Market Regulatory Authority (LMRA) conducted two joint inspection campaigns in the Capital Governorate and the Muharraq Governorate on a number of shops and work sites.

The campaigns resulted in reporting violations related to the Labour Market and Residency laws. The cases were referred for legal action.

LMRA noted that a joint inspection campaign was conducted in the Muharraq Governorate in coordination with the Nationality, Passports and Residence Affairs (NPRA) and the Governorate’s respective Police Directorate. The other inspection campaign was undertaken in the Capital Governorate in coordination with the General Directorate of Crime Detection and Forensic Evidence of the Ministry of Interior.

The Labour Market Regulatory Authority renewed its call on all members of the society to support the efforts of government agencies in addressing illegal labour practices, by reporting violations via the electronic form on the authority’s website www.lmra.gov.bh or by calling the authority’s call centre on 17506055.

Source: Bahrain News Agency

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Shura Chairman stresses importance of cybersecurity

Shura Council Chairman, Ali bin Saleh Al-Saleh, has affirmed the importance of cybersecurity n various fields and sectors, stressing the need to protect all community members from the multiple electronic risks and threats, especially in light of the increasing use of digital tools and means.

In this regard, he praised the remarkable progress achieved by the Kingdom in the field of cybersecurity, combating crimes and electronic fraud methods.

Al-Saleh made the statements while receiving here today Mirza Asrar, the CEO and Founder of CTM360 company, which is specialised in cybersecurity.

He highlighted the kingdom’s advanced and supportive legislation and laws for the information and communication technology sector, noting that Bahrain is witnessing great progress in the digital and technological transformation, thanks to the government’s strategies and initiatives that support the provision of an attractive technical infrastructure for investments and capital.

Mirza Asrar praised the fruitful efforts exerted by the legislative branch to ensure the availability of laws that are compatible with the requirements of digital transformation and progress, hailing the growing awareness of the importance of cybersecurity, and the protection of individuals, companies and institutions from the continuous risks and threats that coincide with the technical growth and the growing use of networks and electronic applications.

Source: Bahrain News Agency