Day: 6 February 2024

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Pacific Green targets 12GWh battery energy storage capacity across four global markets

  • Company doubles down on BESS as a priority focus in 2024, having expanded its global pipeline to 6GWh in 2023.
  • Australia and Italy are hotspots for significant expansion of origination portfolio, alongside entry into Polish market.
  • Further expansion of UK portfolio, as pioneering Richborough project enters first full year of operation and construction is underway at huge Sheaf project.

DOVER, DE, Feb. 06, 2024 (GLOBE NEWSWIRE) —  Global energy storage and environmental technology company, Pacific Green Technologies, Inc. (“Pacific Green”, OTCQB: PGTK) is targeting more than 12GWh of battery energy storage capacity across four global markets.

Having achieved rapid pipeline growth to 6GWh in 2023 – taking scale positions in the emerging Italian and Australian energy storage markets, as well as moving its first project into operation at Richborough, UK – the company is doubling down on utility-scale battery energy storage systems (BESS) as a priority focus for 2024 and beyond.

Australia and Italy remain hotspots for significant further pipeline expansion, with the company also seeking to recharge its origination portfolio in the maturing UK market, as well as taking its first steps into the nascent Polish market.

Pacific Green is targeting a minimum of 1GWh capacity in each market it enters. Its targets for 2024 include:

UK – operation / development / origination

Recent strategic milestones have included commissioning the 99.8MWh Richborough Energy Park, achieving financial close at neighbouring 373.5MWh Sheaf Energy Park – one of the first and largest non-recourse debt financed BESS sites in the world, and transferring ownership of both projects to energy transition fund Sosteneo.

2024 priorities include progressing construction of Sheaf Energy Park ahead of its July 2025 commissioning date and further expanding the UK origination portfolio.

Australia – development / origination

Having last year secured land exclusivity agreements for two major BESS projects in Southern Australia with 3GWh of storage capacity, Pacific Green aims to more than double its greenfield origination pipeline to 6GWh+.

Pacific Green’s Australian team is targeting financial close on its first 500MWh of storage capacity this year, ahead of the start of commercial operations in 2026.

Italy – development / origination

Having acquired a majority shareholding in five battery energy parks in Italy from originator Sphera Energy in 2023, totalling 2.8GWh capacity, Pacific Green’s team in Italy is targeting financial close on its first 1,500MWh of storage capacity this year, ahead of the start of commercial operations in 2026.

The team also aims to further expand its origination portfolio to almost 5GWh in total.

Poland – origination

Pacific Green intends to enter the nascent Polish market in 2024, targeting an initial origination pipeline of approximately 400MWh storage capacity.

Scott Poulter, Pacific Green’s Chief Executive, said:

“We’re focused on rolling out next-generation battery energy parks at scale and at speed – drawing on a unique combination of technology, project development and project finance expertise, alongside relationships cultivated with trusted partners throughout the BESS supply chain.

“Our work in 2023 demonstrated the speed and efficiency with which our team can bring forward vital new BESS assets and deliver significant value to our shareholders – and we intend to continue building the pace in 2024 and beyond.

“The role of battery storage in advancing the energy transition is no longer debatable – but to achieve the momentous growth that’s needed in operational capacity, the market needs to double down on its efforts to originate workable projects and commercialise and deploy the technology efficiently.  We’re laser focused on building the pipeline, the team and the international relationships needed to make a real difference in this sector.”

About Pacific Green Technologies, Inc.:

Pacific Green is a global energy storage and environmental technology company, on a mission to advance the transition to sustainable energy solutions.

The business is focused on rapidly building a global portfolio of utility-scale battery energy storage systems (BESS), with a current total of 6GWh of energy storage capacity in development, construction or operation.

Pacific Green’s team brings together extensive technology, project development and project finance expertise – having commercialised numerous pioneering technologies, and steered major international energy and infrastructure projects successfully through financing and development.

This in-house expertise is complemented by strategic relationships cultivated with trusted partners at all levels of the global environmental supply chain – providing access to the very best technology and manufacturing capabilities on offer, alongside internationally respected financial institutions and project partners.

For more information, visit: www.pacificgreen.com

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continued development of the Project, any potential business developments and future interest in Pacific Green’s battery, solar and environmental technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the continuation of the development of the Project, general economic and political conditions. These forward-looking statements are made as of the date of this news release, and Pacific Green assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Pacific Green believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in Pacific Green’s annual report on Form 10-K for the most recent fiscal year, Pacific Green’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

For media enquiries, please contact: pacificgreen@tamarindo.global

Scott Poulter, Chairman & CEO
Pacific Green Technologies, Inc.
T: +1 (302) 601-4659

GlobeNewswire Distribution ID 9032212

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Asian University for Women offers 250 scholarships to women from Gaza

CHITTAGONG, BANGLADESH – Media OutReach Newswire – 6 February 2024 – Asian University for Women in Chittagong, Bangladesh has offered 250 scholarships for highly qualified female students from war-torn Gaza to join its undergraduate or graduate programs.  The AUW scholarships will cover all costs of international travel, room, board, tuition, health care and a monthly stipend.  It may be sadly noted that at least one AUW graduate who had returned to her home in Gaza remains untraceable to date.

His Excellency Ambassador Riad Mansour of Palestine handing over a gift of a precious book on Palestine to AUW Founder Mr. Kamal Ahmad.

The 250 students have already been chosen based on their past academic performance and other records of accomplishments.  AUW’s Founder & CEO Mr. Kamal Ahmad conveyed this commitment when he called on His Excellency Dr. Riad Mansour, Ambassador of the State of Palestine to the United Nations at the latter’s offices in New York on February 1st. Ambassador Mansour, who himself was an educator earlier in his career, deeply appreciated the gesture from AUW and assured AUW of his support in enabling a rapid transfer of the students from Gaza to AUW’s campus in Chittagong.

It may be noted that AUW was established by the Parliament of Bangladesh in 2008 to specifically support the education of women from conflict areas, among others.  Nearly 550 Afghan students currently attend AUW; there are at least another 300 students attending AUW from other conflict areas including Myanmar, Syria and Yemen.  In a recent convocation address Professor Richard Saller, President of Stanford University, referred to his own personal experience teaching a group of students from AUW at Stanford one summer “as the most rewarding teaching experience of my career” and went on to say “These students came from modest families in various countries across South Asia. One of the principal goals of AUW was to instill confidence and a powerful sense of agency in these students, who came from societies that limited opportunities for women — sometimes severely”.

The Hon’ble Prime Minister Sheikh Hasina serves as the Chief Patron of AUW while the Hon’ble Minister of Social Welfare Dr. Dipu Moni serves as the Chairman of the Board.  The eminent educator and entrepreneur Dr. Rubana Huq serves as the Vice Chancellor.

A one million square feet custom-designed campus is being developed on a 140-acre plot in Chittagong guided by the renowned architects Moshe Safdie and Renzo Piano.  When fully built, AUW will be able to serve 11,000 talented students from across the region irrespective of their economic, social, religious or national or ethnic background.  In addition, an AUW Lab School led by the Founding Principal Dr. Dale Taylor will be launched in August this year that will cater to younger students with most potential for academic and leadership success.

About Asian University for Women (AUW):

Founded in 2008 and located in Chittagong, Bangladesh, AUW is the first of its kind: a regional institution dedicated to women’s education and leadership development through liberal arts and sciences education.  It is international in outlook but rooted in the contexts and aspirations of the people of Asia. Chartered by the Parliament of Bangladesh, AUW exists solely to support a rising network of women leaders, entrepreneurs, and changemakers from across the region. It seeks out women who show significant academic achievement and potential, demonstrate courage and a sense of outrage at injustice, and are empathic to the woes of other people.

1,600 students from 15 countries currently attend AUW: Afghanistan, Bangladesh, Bhutan, Cambodia, China, India, Indonesia, Lao PDR, Myanmar, Nepal, Pakistan, Sri Lanka, Syria, Timor Leste, Vietnam, and Yemen. More than 85% of AUW students are on full or near-full scholarships funded by supporters from around the world. The University has graduated over a thousand students to date. A majority of AUW graduates secure employment in the private and public sectors in their home countries while about 25% go on to pursue graduate studies at other institutions of higher learning including Oxford, Cambridge, Johns Hopkins, Stanford, Columbia, Duke, Brandeis and Tufts, among others. To learn more about Asian University for Women, please visit https://asian-university.org.

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Mundo Verde Climate Leads Groundbreaking Transaction in the Global Voluntary Carbon Market

Deal reaffirms Mundo Verde Climate’s role as a leading global provider of carbon credits and helps to stimulate the voluntary market, which is set for a resurgence following COP28.

Geneva, Feb. 05, 2024 (GLOBE NEWSWIRE) — Mundo Verde Climate, a global player in climate finance and climate change risk management advisory, announced its pivotal role in one of the most significant transactions of 2023 within the global voluntary carbon market. The company, dedicated to forging a sustainable future for generations, continues to champion green technologies and nature-based solutions in the race to Net Zero.

In a significant stride towards achieving this goal, Mundo Verde Climate has entered into a strategic arrangement with Biotrend Enerji, the most prominent player in the Turkish integrated waste management, waste-to-energy and circular plastics market. This collaboration marks a milestone in the pursuit of mobilizing finance towards new climate change mitigation technologies.

Mundo Verde Climate took an instrumental role in developing the voluntary carbon units from Biotrend’s waste to energy activities through a certification and verification process under VERRA.  The transaction, covering over 2.4 million tons of CO2 in total, refers to voluntary carbon credits for release on the international market. Companies can acquire the credits to offset their emissions from unrelated activities.

The deal promises to impact the global voluntary carbon market substantially. Mundo Verde Climate, together with Biotrend, hopes that the initiative will provide much-needed carbon credits to satisfy demand in the voluntary offsetting market and inspire others to advance their projects and stimulate the market.

Reflecting on the efforts of governments at COP 28 to invigorate the global trade in voluntary carbon credits, Ms Gediz Kaya, Managing Partner at Mundo Verde Climate, expressed enthusiasm about the Biotrend arrangement, stating:

“According to Climate Policy Initiative, the amount of financing needed to be mobilized towards climate mitigation technologies by 2030 is $4.3 trillion annually and 21% of that finance is mobilized right now. So we need to take action and we need to decarbonize as fast as possible. This collaboration exemplifies our dedication to fostering international cooperation and collaboration of key industries in pricing carbon so that we can mobilize finance in the fight against climate change. By joining forces with Biotrend, we aim to catalyse transformative change and encourage companies in the energy sector, and other industries, to adopt a sustainable approach to managing their emissions.”

The COP28 summit in the United Arab Emirates discussed a number of important factors related to standards and integrity around carbon crediting and recognized the important role of voluntary carbon markets in addressing climate change. Mundo Verde Climate underscores the urgency of global collaboration to address climate challenges and calls for renewed efforts, partnerships, and commitments to mobilize finance. This is vital for accelerating the transition to a low-carbon economy.

Biotrend made a related public disclosure about certified carbon crediting on 8 November 2023, in its 9-month financial statement.

Attachments

Mundo Verde Climate
media@mv-climate.com

GlobeNewswire Distribution ID 9032182

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Leaders in Luxury: Automobili Pininfarina Recognised With Three International Awards

B95

B95 by Automobili Pininfarina

  • Automobili Pininfarina begins 2024 with multiple award wins for its design
  • PURA Vision awarded Silver in Conceptual Products / Automotive & Transport Product Design category at The International Design Awards
  • Automobili Pininfarina named ‘Luxury Electric Performance Car Manufacturer of the Year 2024’ by LUXlife Magazine
  • Battista Edizione Nino Farina crowned Best Electric Hypercar at Robb Report Monaco & Côte d’Azur Car of the Year 2024
  • Full suite of assets to support the news can be found here

CAMBIANO, Italy, Feb. 06, 2024 (GLOBE NEWSWIRE) — Automobili Pininfarina has kicked off 2024 with three award wins, as it continues to build on the success of a record-breaking previous year.

LUXlife Magazine named Automobili Pininfarina ‘Luxury Electric Performance Car Manufacturer of the Year 2024’ at its annual awards.

Celebrating the unparalleled achievements and exceptional creativity in the realm of luxury, LUXlife awards honour the leaders and pioneers who redefine excellence within the industry, setting higher standards of sophistication and elegance. Automobili Pininfarina was a winner within the ‘Leaders in Luxury’ category.

This was followed by another win for the PURA Vision design concept, which was awarded Silver in Conceptual Products / Automotive & Transport Product Design at the 2024 International Design Awards.

Battista Edizione Nino Farina

Battista Edizione Nino Farina by Automobili Pininfarina

PURA Vision represents the beginning of what promises to be a groundbreaking era for electric luxury vehicles and was penned by Chief Design Officer, Dave Amantea. It was unveiled at 2023 Monterey Car Week.

Dave Amantea, Chief Design Officer, commented: “Our PURA design philosophy is all about simplicity and timeless beauty, which is designed into every Automobili Pininfarina model. The elegant silhouette and dramatic proportions express this language on PURA Vision, envisioned here as a first-of-its-kind electric Luxury Utility Vehicle (e-LUV).”

The principles of the PURA philosophy, established by Automobili Pininfarina, transform the DNA of iconic models from Pininfarina SpA’s past to define the future, balancing inspiration from iconic classic cars with futuristic elements.

Inspired by classic proportions and exquisite detailing, PURA Vision presents an elegant silhouette with bold cab-rear proportions that combine timeless beauty with exquisite detailing to create a dynamic identity with unmistakable presence. Show-stopping features include its narrow glasshouse and tri-opening pillarless doors, which provide supreme access to its sophisticated cabin.

PURA Vision design concept

PURA Vision by Automobili Pininfarina

Most recently, the Automobili Pininfarina Battista Edizione Nino Farina was named Best Electric Hypercar at Robb Report Monaco & Côte d’Azur Car of the Year 2024. Introduced at the 2023 Goodwood Festival of Speed, it is a tribute to racing legend Nino Farina – nephew of company founder Battista ‘Pinin’ Farina and the first Formula One World Champion.

Each of the five unique examples features an exquisite detail that references a different milestone in Nino’s racing career. Finished in a bespoke Rosso Nino paint complemented by a special livery on the lower body, finished in Bianco Sestriere and Iconica Blu, the exterior design is completed by the Satin Gold 10-spoke forged aluminium Glorioso alloy wheels.

Press Contacts

Duncan Forrester
Chief Communications Officer
(M) +49 (0) 171 265 4094
d.forrester@automobili-pininfarina.com		 Akira Shinonuma
Communications Manager
(M) +49 (0) 1511 0949270
a.shinonuma@automobili-pininfarina.com

FOR MORE INFORMATION, VISIT
https://automobili-pininfarina.com/media-hub

EDITOR’S NOTES

ABOUT AUTOMOBILI PININFARINA
Automobili Pininfarina is based in operational headquarters in Munich, Germany, with a team of experienced automotive executives from luxury and premium car brands. Designed, engineered and produced by hand in Italy, the Battista hyper GT and all future models will be sold in all major global markets under the brand name Pininfarina. The company aims to design experiences for the world’s foremost taste makers. Automobili Pininfarina GmbH is a 100 per cent Mahindra & Mahindra Ltd investment following the signing of a trademark licence agreement between Pininfarina S.p.A. and Mahindra & Mahindra Ltd. Pininfarina S.p.A. has an influential role in supporting design and production capacities based on its unique 94-year experience of producing many of the world’s most iconic cars.

Photos accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/666e6473-ad48-44a4-b8b4-63370c5905ba
https://www.globenewswire.com/NewsRoom/AttachmentNg/4e3f2da6-e216-479c-97fd-4f672a1d3e87
https://www.globenewswire.com/NewsRoom/AttachmentNg/5528a50f-f9b1-44f9-8a6f-86535076509

GlobeNewswire Distribution ID 1000912151

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Israeli Airstrike Claims Lives of Six Palestinians in Khan YunisTransport Minister confirms Yemen’s keenness on security and safety navigation in Red and Arab seas

Gaza: Six Palestinians were killed as a result of the occupation aircraft bombing a residential apartment in Hamad Town in Khan Yunis, south of the Gaza Strip.

Palestinian sources have reported that emergency medical teams managed to reach Hamad Town, situated north of Khan Yunis, and recovered the bodies of the six victims, who were members of the Al-Khatib family.

On the other hand, Israeli artillery continued its bombardment east of Khan Yunis.

Source: Jordan News Agency

Transport Minister in the caretaker government, Abdul Wahab Al-Durra, affirmed Yemen’s keenness on the security and safety of maritime traffic in the Red and Arab seas and the region in general.

Minister Al-Durra pointed out in a meeting held today,Tuesday, with the Chamber of Commerce and Industry and representatives of international shipping lines companies that maritime traffic in the Red and Arab seas was not affected except for ships that have a relationship with the Zionist enemy. Despite this, the number of ships decreased due to the militarization of the Red Sea by America, Britain and their allies.

He said, “Our country has taken a decisive and firm stance by continuing the operations of the armed forces in the Red and Arab seas until the aggression is stopped, the siege on Gaza is lifted, food and medicine enter.”

While the Undersecretary for Maritime Affairs and Ports, Captain Muhammad Ishaq, reviewed the current situation of international maritime navigation in the Red and Arab seas.

He said,
‘During the period from November 19 to December 19, 2023, international maritime navigation continued to operate normally, with the exception of the movement of ships heading to the ports of occupied Palestine.’ He indicated that the number of ships that crossed the Suez Canal coming from Bab al-Mandab Strait and the Red Sea amounted to 2,128 ships, while 55 ships diverted only its route is via the Way of Good Hope.

During the meeting, the Minister of Transport delivered to the Chambers of Commerce , Industry and the shipping lines an official memorandum to the international shipping lines companies, which included the confirmation of Transport Ministry in the Republic of Yemen of its full concern for the security and safety of international navigation in the Red and Arab seas, and that the Yemeni maritime embargo is limited to the ships of the Zionist entity and ships heading to the occupied ports.

The memorandum indicated that the introduction of food, medicine, and humanitarian needs and stopping the agg
ression against Gaza is a fundamental and major factor in ending the tensions in the Red and Arab seas.

The Ministry reiterated that Hodeidah, Salif, and Ras Issa ports, affiliated with the Yemeni Red Sea Ports Corporation, are operating normally in receiving types of commercial ships , container ships, and the maritime transport service continues from all ports to the corporation’s ports.

The meeting discussed confirming Yemen’s position to guarantee international maritime traffic in the Red and Arab Seas for all ships except ships heading to Israel, the losses of ship diversions, and the high costs of confrontation due to the militarization of the Red Sea by America, Britain, and their criminal alliance.

Source: Yemen News Agency

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Victory Brigades commemorates martyr leader anniversary in Hajjah


The Victory Brigades in Hajjah province organized today,Tuesday, a cultural event on the anniversary of the martyr leader, Sayyed, Hussein Badr al-Din al-Houthi.

The speeches, in the presence of brigade leaders and officers, reviewed some of the prominent milestones in the life of the martyr commander and the heroic epics he and his companions fought in the Maran Mountains, despite their small numbers and equipment.

It touched on the starting points with which the martyr leader began his Qur’anic project against the hegemony of global arrogance forces in a time when silence prevailed, and his launch of the slogan ‘The Scream’ and his call for a boycott and linking the nation to the Book of God, to awaken it and bring it out of its slumber and silence.

The words praised the heroic and awareness-raising feats of the martyr leader, Sayyed, Hussein Badr al-Din al-Houthi, based on the enlightening Qur’anic project that he founded and laid its foundations to confront the American project.

They pointed out the e
xtent of the oppression to which the martyr leader and his companions were subjected in the first war, and the targeting and destruction to which his house, his shrine, and Maran area were subjected in the first war and the American-Saudi-Emirati aggression.

The occasion was considered an occasion to draw inspiration from the sacrifices of the martyr leader , adherence to all the values for which he , his comrades sacrificed, an occasion to raise awareness of the dangers of the Zionist-American enemy and the role of everyone in supporting Al-Aqsa and the victory for the martyrs, women and children.

Source: Yemen News Agency

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Syrian UN representative accuses Washington of investing in terrorism


The United States invests in terrorism, Syrian permanent representative to the UN said as the US recent assault on the Arab country left 37 Syrians killed and affected civilians and the archeological castle of Rahaba.

The American justifications depend on misinterpretation of UN Charter regulations on self-defense that exclude occupiers, Qusai al-Dhahak added at Security Council session called for by Russia to address the US assault.

Damascus keenly demanded the UNSC to bear responsibility regarding Washington’s repeated aggressions on Syria, he said.

US successive administrations have misused position at the Council, interfering in other countries’ affairs – beyond the international law and UN Charter – using force at the cost of laws, hindering the Council’s duty in keep peace and security, and securing impunity for occupation and terrorist groups, he added.

Syria rejects to serve as yard for others to show off prior to elections, and adheres to its right to the liberation of all its territories, the di
plomat said.

Damascus calls on the US to quit its devastative policies, and stop causing sufferings to Syria in the form of siege, booties and support for separation militias, Dhahak added.

Source: Yemen News Agency

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Meeting for boycott process team for American goods supporting Zionist entity in Sana’a


The boycott process team for American goods that support the Zionist entity held a meeting today,Tuesday, at the Customs Authority, headed by the Customs Authority’s Undersecretary for Technical Affairs, Abdul Karim Rasa’.

The meeting was briefed on the progress of the procedures approved by the team aimed at devoting efforts to the boycott in a way that strengthens the honorable Yemeni position in solidarity with Palestine and lifting the siege on Gaza.

He touched on the people’s response to the boycott process, praising the level of popular awareness, as well as the awareness and response of merchants to the boycott process of those goods , products , the significant and noticeable decline in imports of those goods.

The attendees reviewed the efforts made by the Authority through customs offices and centers to work on implementing the boycott decision in accordance with the circular with the list of products required to be boycotted attached to the decision of Industry and Trade Ministry

Source: Yemen
News Agency

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Armed forces target two American, British ships in Red Sea


The Armed Forces announced two military operations carried in the Red Sea targeting American and British ships, as a victory for the oppression of the Palestinian people and as part of a response to the American-British aggression.

The Armed Forces explained in a statement, received (Saba), that they carried out two military operations in the Red Sea, the first targeting an American ship (Star Nasia) and the other targeting a British ship (Morning Tide), Both ships were targeted with appropriate naval missiles.

The statement confirmed the aim is accurate and direct.

The Armed Forces indicated will carry out more qualitative military operations against hostile American and British targets in the Red and Arab sea, within the legitimate right of response to aggression and in defense of the homeland.

Source: Yemen News Agency

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Health and Humanitarian Affairs Office in Al-Maraw’a District organizes martyr leader event


The Public Health and Population Office and the Humanitarian Affairs Branch in Al-Maraw’a District in Hodeidah province organized today,Tuesday, a speech event to commemorate the anniversary of the martyr leader, Sayyed Hussein Badr al-Din al-Houthi, under the slogan ‘Martyr of the Qur’an.’

At the event, the Director of the Directorate, Abdullah Abdul Hamid Al-Marouni, pointed out the importance of commemorating this anniversary, which strengthens the spirit of faith to revive jihad in the nation and consolidate the meanings of sacrifice and redemption in supporting the truth and the oppressed, especially in light of the aggression and war of genocide against the Palestinian people in Gaza Strip before the usurping Zionist entity.

He reviewed the stages of the life of the martyr leader, the depth of his vision of the dangers lurking in the Arab and Islamic nations, and what he pointed out about the goals of the American-Zionist project from an early stage, which are being achieved today in the reality of wh
at the nation is witnessing of the dangers of normalization with the Zionist enemy and the kneeling of Arab regimes to serve the agenda of America and the enemies of the nation.

The event, which was attended by the leadership and employees of the Office of Health and Humanitarian Affairs, included chants and poetry, which expressed the thought of the martyr leader and his warning against projects being hatched against the nation.

Source: Yemen News Agency