Trial Carbon Capture Unit Begins Operating on Blast Furnace at ArcelorMittal Gent, Belgium

TOKYO, May 22, 2024 – (JCN Newswire) – ArcelorMittal and partners Mitsubishi Heavy Industries, Ltd. (MHI), BHP, along with Mitsubishi Development Pty Ltd (Mitsubishi Development) have successfully started operating a pilot carbon capture unit on the blast furnace off-gas at ArcelorMittal Gent in Belgium.

The pilot carbon capture unit will operate for one to two years at Gent, to test the feasibility of progress to full-scale deployment of the technology, which would be able to capture a sizeable portion of the Gent site emissions, if successful. Engineers have been working on site since January to assemble and commission the unit.

In October 2022, the four parties announced their collaboration on a multi-year trial of MHI’s carbon capture technology (Advanced KM CDR Process™) at multiple carbon dioxide (CO2) emission points, starting at the Gent steelmaking site. The pilot carbon capture unit will be testing initially with blast furnace and reheating furnace gas and has the potential to be trialled to capture steelmaking gases such as reformer flue gas from a Direct Reduced Iron (DRI) plant.

The development of the carbon capture solution at Gent could feed into multiple CO2 transport and storage projects under development in the North Sea region and contribute to global technological solutions required for decarbonisation of steel production. The EU has an objective to achieve an annual CO2 storage capacity of 50 million tonnes by 2030, proposed under the Net-Zero Industry Act. Moreover, the International Energy Agency (IEA) estimates CCUS technology needs to apply to more than 37 per cent of primary steel production by 2050, equivalent to 399 Mtpa of CO2, for the Net Zero Emissions scenario (Source: IEA Net Zero Roadmap – 2023 update).

To further understand how MHI’s carbon capture technology can be incorporated into existing steel plants, ArcelorMittal is facilitating the trial in Gent, Belgium, with MHI supplying its proprietary carbon capture technology and supporting the engineering studies. BHP and Mitsubishi Development, as key suppliers of high-quality steelmaking raw materials to ArcelorMittal’s European operations, are supporting trial funding.

Speaking in Gent at the consortium meeting, ArcelorMittal Belgium’s CEO, Manfred Van Vlierberghe, said “ArcelorMittal Belgium’s decarbonisation efforts can be summarized in three axes. The first axis focuses on energy efficiency: reuse of waste heat and renewable energy. In our second axis, we are replacing coal with a combination of gas and electrification. And finally, the third axis, is based on circular use of carbon – CCU and CCS. Here, the installation of the carbon capture unit on our Gent blast furnace is a great example. The main ambition is to achieve completely carbon-free processes. A radical change is difficult, so we embrace every step that takes us towards our goal.”

MHI’s Senior Vice President (CCUS) of GX (Green Transformation) Solutions, Tatsuto Nagayasu, said “The launch of this pilot carbon capture unit marks a significant milestone on the iron and steel industry’s journey toward net-zero emissions. As a provider of innovative technologies, we are thrilled to witness our solutions in action, helping to decarbonize existing assets. We eagerly anticipate further deploying our technologies to achieve this goal.”

BHP Group Sales & Marketing Officer Michiel Hovers said “This represents real progress in proving up the feasibility of carbon capture for steel production, and BHP is delighted to be part of this consortium working on the pilot plant. This work could help develop a technology that may significantly lower CO2emissions intensity from the blast furnace which remains critical to meet steel demand, and while other pathways are further matured.”

Mitsubishi Development Chief Executive Officer, Kenichiro Tauchi said “This pilot is a significant step towards advancement of carbon capture technology as a potential solution to achieve solid emission reductions in the steel sector. We will continue to demonstrate our commitment to advancing confidence in reducing emissions in hard to abate industries as we move towards achieving a carbon neutral society.”

The trial at Gent will have two phases. The first phase involves separating and capturing the CO2 from the top gas from the blast furnace at a rate of around 300kg of CO2 a day – a technical challenge due to the differing levels of contaminants in the top gas. The second phase involves testing the separating and capturing of CO2 in the off-gases in the hot strip mill reheating furnace, which burns a mixture of industrial gases including coke gas, blast furnace gases and natural gas.

Members of the project team for ArcelorMittal, BHP, MDP and MHI recently visiting the pilot plant in Gent, Belgium

About ArcelorMittal

ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2023 generated revenues of $68.3 billion, produced 58.1 million metric tonnes of crude steel and, 42.0 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

About BHP

BHP is a leading global resources company with approximately 80,000 employees and contractors, primarily in Australia and the Americas. BHP’s products are sold worldwide, and it is among the world’s top producers of major commodities, including iron ore, copper, nickel, and metallurgical coal. Read more about our approach to climate change: www.bhp.com/climate

About Mitsubishi Development

Mitsubishi Development Pty Ltd has contributed to global industries for more than 50 years through its developments in the mineral resources sector and is a wholly owned subsidiary of Mitsubishi Corporation, one of Japan’s premier general trading and investment organisations with more than 80,000 employees globally.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world.

Please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.

M&A Securities and NewParadigm Underwrites Rights Issue with Warrants for Siab Holdings Berhad’s Acquisition of Taghill

KUALA LUMPUR, May 7, 2024 – (ACN Newswire) – Siab Holdings Berhad (“Siab” or the “Company”), an established player in Malaysia’s construction industry, is pleased to announce its plans to raise approximately RM103.98 million through private placement, of which RM12.00 million has been completed on 28 December 2023, and rights issue with warrants. These funds will be used to finance the acquisition of Taghill Projects Sdn. Bhd. (“Taghill”). The rights issue with warrants, valued at RM91.98 million, will be underwritten by M & A Securities Sdn. Bhd. (“M & A Securities”), the Principal Adviser, Managing Underwriter and Joint Underwriter to the Company, as well as NewParadigm Securities Sdn. Bhd. (“NewParadigm”), the Joint Underwriter to Siab.

Vincent YH Chu, Deputy Managing Director of Taghill Group; Mr. Yap Kek Siung, Executive Director of Taghill Group; Mr. Ng Wai Hoe, Group Managing Director of Siab Holdings Berhad; Datuk Bill Tan, Managing Director of Corporate Finance from M & A Securities; Mr. Charanjeev Singh, Executive Director/ Group CEO from NewParadigm Securities; Mr. Wong Yih Ming, Founder and Managing Director of Taghill Group[L-R]

These efforts support the acquisition of Taghill, a move designed to bolster the Company’s growth trajectory, where the purchase price for Taghill is set at RM122.00 million, to be settled with RM96.00 million in cash and the issuance of 200.00 million new Siab shares at RM0.12 per share as detailed in the circular issued by the Company dated 16 November 2023.

Taghill is a construction project and contract management consultancy company, which has completed 12 major construction projects worth RM1.58 billion, including notable developments like Expressionz Suites and Ceylonz Suites in Kuala Lumpur. Currently, Taghill boasts a robust order book valued at RM1.31 billion and has committed to a profit guarantee of at least RM24.00 million for the financial years 2024 and 2025. Nonetheless, Taghill has a strong orderbook of RM1.31 billion.

Mr. Ng Wai Hoe, Group Managing Director of Siab Holdings Berhad, expressed his excitement by saying, “The integration of Taghill into our operations allows us to leverage on each other’s specialty which will significantly enhances our Company’s overall value and create synergy for us to work together closely over a longer horizon. We appreciate the continuous support and expertise provided by M & A Securities, NewParadigm Securities and our Financial Advisor, Eco Asia Advisory Sdn. Bhd. (“Eco Asia”), in facilitating these transformative initiatives.”

Datuk Bill Tan, Managing Director of Corporate Finance from M & A Securities added, “We are thrilled to assist Siab in these pivotal financial manoeuvres. With the funds raised, Siab is well-positioned to enhance its market presence and seize more opportunities in the dynamic Malaysian construction and property market.”

Mr. Charanjeev Singh, Executive Director/ Group CEO from NewParadigm commented, “The fund-raising exercise and acquisition of Taghill would allow Siab continues its path on becoming the market leading in construction sector in Malaysia. We are truly delighted to be a part of this significant tipping point of Siab.”

The construction industry in Malaysia is expected to expand by 6.8% to RM60.49 billion as supported by broad-based growth across all subsectors. In Budget 2024, the allocation for Development Expenditure (“DE”) stands at RM99.0 billion – which is the largest DE ever to support the significant growth in the local construction industry. One of the most notably initiative includes the Malaysian Government’s focus on home ownership with an allocation of RM2.47 billion, allocated to implement housing projects for the rakyat in 2024. Siab, together with the acquisition of Taghill, is more than ready to support the Malaysian Government ambitious DE in 2024.

GMG Provides Commercialisation Update on Energy Savings Coating THERMAL-XR(R)

Brisbane, Queensland, Australia–(ACN Newswire – April 22, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company”) is pleased to provide a business update on the commercialisation progress of THERMAL-XR® powered by GMG Graphene.

GMG and GMG’s THERMAL-XR® powered by GMG Graphene coating was awarded as Most Disruptive Technology Award and Best Chance for Market Success Award at the Data Center World Conference in Washington DC, USA on the 18^th April 2024. The Data Center World conference is a global industry event that combines real world, practitioner and thought leader expertise with in-depth research and data, and access to a full spectrum of solution providers looking to drive the industry forward.

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Most Disruptive Technology Award is the award for the technology that the judges determine to have the best opportunity to create short-term positive market, sales, or customer service disruption among existing data center technologies. Best Chance for Market Success Award is the award for the technology that judges determine will be the most successful at creating revenue upside and profit for the startup company.

THERMAL-XR® provided a 15.4% improvement in energy efficiency in an Aviation IT Data Center in Singapore:

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End-user Customer Engagement in the USA is ongoing with North America Distribution Partner Nu Calgon, which is known as the largest specialty chemical provider to the HVACR market in North America. Nu-Calgon has a 37 person sales team with approximately 4000 distribution points. Nu-Calgon’s Cool Worx powered by GMG Graphene was introduced to the North American HVACR industry at the AHR Expo in January 2024. As previously announced Thermal XR provided a 36.7% reduction in energy when demonstrated at the High School Gymnasium, Harlingen Texas on a 30 ton Aaon packaged rooftop air-conditioning system.

GMG and Nu Calgon are reviewing and progressing next steps for its THERMAL-XR® re-submission for its USA Environmental Protection Agency’s (EPA) approval with a full Pre-Manufacture Notice (PMN) to import and sell in the USA as previously announced.

GMG has also received its first order for THERMAL-XR® production coating trials from an Air Conditioner Manufacturer in China and is in discussions about product testing with various other Air Conditioner Manufacturers in both China and USA.

GMG has successfully completed the THERMAL-XR® coating project work at a number of Beach Front Hotels including the five star eco-resort Elements of Byron where the main targeted benefit is corrosion resistance for both the condenser coils and the outside air conditioner casing. Please see customer testimonial from the hotel owner: https://graphenemg.com/thermal-xr-testimonial-by-elements-of-byron/

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Based on the success of these projects, GMG has focused a sales campaign targeting the sale of THERMAL-XR® to Queensland and New South Wales based coastal hotels and resorts given their air conditioners are often found to fail faster due to more aggressive corrosion from the sea air. GMG’s THERMAL-XR® can provide high Corrosion Protection whilst potentially providing energy savings for their HVAC equipment. Under third party laboratory re-testing conducted by Industrial Inspection & Analysis in St. Louis Missouri USA, THERMAL-XR® has now successfully achieved 10,000 hours salt sea spray testing.

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GMG has also received an order to complete the remaining two stages of the Australian micro-Liquefied Natural Gas (LNG) plant GMG supplied and coated THERMAL-XR® in 2022 after successfully increasing production capacity approximately 16% on the initial gas cooling stage of the LNG plant.

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GMG has received an order for THERMAL-XR® from a global Train Manufacturer to carry out supply and service of the product on train air conditioning systems in China after initial successful testing. In addition, GMG is also testing THERMAL-XR® with a global Truck Manufacturer for radiator and other equipment application trials.

Tim Edwards, Head of Sales is leading these activities for the Company with a key focus on driving sales in the HVAC market with significant experience and industry knowledge. Mark Lock, Global Key Account Manager has retired from GMG and the Company thanks Mark for his significant contributions in progressing THERMAL-XR®.

GMG’s Managing Director and CEO, Craig Nicol, commented: “The progress GMG is making with THERMAL-XR® is exciting. The various types of industries that are now trialling and in some case ordering the product including after-market air conditioning, data centres, air conditioner manufacturers, truck and train manufacturers and industrial facilities such as LNG plants.”

About THERMAL-XR® powered by GMG Graphene:

THERMAL-XR® COATING SYSTEM is a unique method of improving the conductivity of corroded heat exchange surfaces and improving and maintaining the performance of new units at peak levels. The process coats and protects heat exchange surfaces while improving and rebuilding the lost corroded thermal conductivity and increasing the heat transfer rate by leveraging the physics of GMG Graphene, resulting in an efficiency improvement and a potential power reduction.

THERMAL-XR RESTORE® is powered by GMG Graphene. PATENT PENDING

About GMG www.graphenemg.com

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process. GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications.

The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications. In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning (“HVAC-R”) coating (or energy-saving coating), lubricants and fluids.

In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries (“G+AI Batteries”).

GMG’s 4 critical business objectives are:

Produce Graphene and improve/scale cell production processes
Build Revenue from Energy Savings Products
Develop Next-Generation Battery
Develop Supply Chain, Partners & Project Execution Capability

For further information please contact:

Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding customer engagement in the USA, the review and progression of the Company’s EPA approval with a PMN, discussions with air conditioner manufacturers in Chian and the USA, the benefits of THERMAL-XR®, and the testing of THERMAL-XR® with a global truck manufacturer.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to customer engagement in the USA continuing with Nu Calgon, the Company re-submitting an application to the EPA for approval with a full PMN, that discussions and product testing with various air conditioner manufacturers in the USA and China will continue, that THERMAL-XR® can provide high corrosion protection while potentially providing energy savings for HVAC equipment, and that GMG will continue testing THERMAL-XR® with a global truck manufacturer for radiator and other equipment application trials.

Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that GMG and Nu Calgon will not continue with end-user customer engagement in the USA, that GMG will not re-submit an application to the EPA for approval with a full PMN, or that the Company’s submission to the EPA will not be approved, that discussion with air conditioner manufacturers in China and the USA will not continue, that THERMAL-XR® will not provide the benefits expected by management to HVAC equipment, that the testing of THERMAL-XR® with a global truck manufacturer for radiator and other equipment application trials will not continue, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206431

Crown Digital Spearheads the Future of AI in F&B with Ella the Robobarista at AIM Global

Ella, Singapore’s first AI-led robot barista by Crown Digital, showcased its partnership versatility at the Palm & Lauric Oils Price Outlook Conference & Exhibition and Mobile World Congress in Barcelona, Spain, and looks to participate in further industry conferences across the Asia Pacific region.
Crown Digital proudly announces its participation in AIM Global, the Global Alliance on Artificial Intelligence for Industry and Manufacturing, reflecting its commitment to advancing the safe, sustainable, and inclusive use of AI.

SINGAPORE, Apr 18, 2024 – (ACN Newswire) – Crown Digital, Singapore’s first full-stacked F&B tech startup and the creator of Ella the Robot Barista, has joined AIM Global, the Global Alliance on Artificial Intelligence for Industry and Manufacturing.

Crown Digital joins AIM Global as the first Singaporean company together with a diverse range of companies and institutions globally to support its ultimate goal of “progress by innovation” globally by harnessing the possibilities of frontier technologies. This strategic collaboration reflects its commitment to advancing safe, sustainable, and inclusive use of AI in industry and manufacturing.

On being part of AIM Global, Keith Tan, CEO and Founder of Crown Digital shared “This partnership affirms Crown Digital’s belief in responsible adoption of AI technologies for industrial development globally. We are proud of Ella’s recognition as a positive use case in driving the autonomous future of F&B, especially with the recent resurgence of AI and Robotics. We look forward to the opportunity to drive AIM Global’s vision, priorities and key initiatives related to AI with international stakeholders in both private and public sectors,” Keith Tan, CEO and Founder of Crown Digital

Guided by the United Nations Industrial Development Organization (UNIDO), AIM Global promotes the responsible development and deployment of AI and frontier technologies. Aligned with the UN Secretary-General’s Our Common Agenda, AIM Global shapes a digital future that is open, secure, and beneficial to all.

AI technologies are transforming industry and manufacturing, offering unprecedented opportunities for increased efficiency, productivity, and sustainability. However, the adoption of these technologies also brings ethical considerations, privacy concerns, and the imperative for inclusivity. As a new member, Crown Digital is excited to contribute to AIM Global’s mission of unlocking the full potential of AI for industry.

Continuing its support to the United Nations Sustainable Development Goals and recognising the importance of sustainability and responsible consumption, Crown Digital has also partnered with Terrascope, a global decarbonisation SaaS platform that supports enterprises in their green transformation. As part of their collaboration, Crown Digital worked closely with Terrascope to measure the carbon footprint of six coffees featured on their Ella menu, encompassing both cradle-to-gate and cradle-to-grave analysis.

Crown Digital, a Singaporean start-up aimed to propel the future of F&B through its autonomous solutions, has since grown to establish itself as a tech-driven enterprise to bring gourmet coffee to lovers of the aromatic beans globally through partnerships with Ella the Robot Barista across multiple industries.

At the 35th Palm & Lauric Oils Price Outlook Conference & Exhibition that took place in Kuala Lumpur, Malaysia, conference attendees were served with a special blend of hot chocolate and mocha infused with MCT (medium-chain triglyceride) oils. This innovative pairing showcased the potential for combining advanced technology with health products and the endless possibilities to such partnerships in elevating brand experiences.

Crown Digital continued to elevate its partnership versatility when it demonstrated successes of payment gateway integration at the Mobile World Congress in Barcelona, Spain, through a collaboration with e&, one of the largest telecommunications and digital services providers in the Middle East, Africa and Asia. Conference attendees got to witness the swift and seamless process and integration from ordering, payment to receiving their customised order of the high-quality caffeine beverage made by Ella.

Singaporeans can also conveniently experience a cup of Ella’s brew by paying using DBS Paylah! or PayNow. This is powered by Crown Digital’s integration with DBS MAX, DBS Bank’s end-to-end cashless collection solution for businesses.

There is no rest planned for Ella just yet as Crown Digital sets its sights on participating in various industry conferences around the Asia Pacific region, including major cities such as Bangkok, Shanghai, Hong Kong and Osaka, as it continues to establish itself as a trailblazer in the emerging robotics and automation space and not just a F&B startup.

About Crown Digital

Full-stack start-up Crown Digital began with the goal of delivering a contactless coffee experience gourmet experience to the world’s growing community of grab-and-go commuters. Its creation, ELLA, the one of world’s first successful robot barista, humanised technology and demonstrated the potential of robotics and AI to re-invent the commuter lifestyle experience and re-energize urban retail. As ELLA deploys across major Asian transit hubs and retail locations, Crown Digital brings its expertise and insights to find new ways to create social value through robotics. The company strives to re-imagine and re-invent consumer-facing robotics to become the leading inventor, operator, and distributor of future-ready solutions.

For media enquiries, please contact ella@preciouscomms.com.

Prestigious titles for top developers at the 14th PropertyGuru Asia Property Awards (Singapore)

SINGAPORE, Apr 18, 2024 – (ACN Newswire) – Organisers of the PropertyGuru Asia Property Awards (Singapore) have announced their call for entries ahead of this year’s highly anticipated gala celebration.

The 14th Annual PropertyGuru Asia Property Awards (Singapore), supported by Mitsubishi Electric Asia, are now open for entries until 30 August 2024.

The 14th Annual PropertyGuru Asia Property Awards (Singapore), supported by Mitsubishi Electric Asia, are now accepting submissions from the industry and the public via asiapropertyawards.com/nominations until 30 August 2024.

Bringing the city-state’s finest developers together, the black-tie gala dinner and presentation of the Awards are now scheduled for Friday, 8 November 2024 at The Ritz-Carlton, Millenia Singapore.

Key dates for the 2024 edition:
30 August 2024 – Entries close
23 September-4 October 2024 – Site Inspections
7 October 2024 – Final Judging
8 November 2024 – Gala Dinner and Awards Ceremony in Singapore
13 December 2024 – Regional Grand Final Gala Presentation in Bangkok, Singapore

Raising standards

Almost 90 categories are in the latest edition of the Awards, raising the Gold Standard of real estate higher in Singapore for 2024.

Newly added categories include the never-before-presented ESG awards, recognising excellence in the spheres of sustainable design, sustainable construction, energy efficiency, and social impact. Other new categories include awards for the country’s finest investment properties.

An independent panel of judges, composed of seasoned professionals from diverse segments within the real estate realm, ensures a fair and transparent selection process. HLB, the worldwide network of independent advisory and accounting firms, supervises the entirety of the judging process.

Kristin Thorsteins, chairperson of the panel of judges and head of partnerships – growth for APAC at IWG PLC, said: “Joining the PropertyGuru Asia Property Awards is a valuable investment for Singaporean property developers, offering independent validation of their projects, boosting brand recognition, and generating wide-reaching media exposure. This recognition translates to increased trust from buyers and investors, differentiating the developer in a competitive market. Additionally, the awards offer networking opportunities with leading industry players, provide an avenue to benchmark quality, and can lead to increased sales and the ability to command premium pricing.”

Resilience of demand

The enhanced, diversified categories point to the continual resilience of demand for residential properties in Singapore.

Seven in 10 Singaporeans intend to buy a property, with more than half planning to buy it within the next five years, according to the PropertyGuru Singapore Consumer Sentiment Study (CSS) H1 2024.

The study further revealed that the overall Sentiment Index has remained stable at 44 points, a slight increase from the last wave in the H2 2023 report at 43 points.

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “With its inherent stability, Singapore continues to offer attractive options for property buyers and investors in the Asia Pacific region. We look forward to honouring the finest real estate in Southeast Asia’s most resilient market as it continues to set the highest standards in urban development. The latest edition of these Awards is also an opportunity to showcase the superior built spaces that make Singapore a city of tomorrow and a future-ready destination to live, work, and thrive.”

Top representation

Top developers successfully represented Singapore at the 18th PropertyGuru Asia Property Awards Grand Final in December 2023.

GuocoLand won Best Developer (Asia) for the third time in the history of the Grand Final, also known as the culmination of the PropertyGuru Asia Property Awards series. Other winning developers included Frasers Property Singapore, recipient of the Best Mixed Use Developer (Asia) award, and UOL Group Limited and Pan Pacific Hotels Group, recipients of the Best Hospitality Developer (Asia) award. UOL Group Limited also won the Best Sustainable Developer (Asia) award while EL Development Pte Ltd won the Best Hospitality Interior Design (Asia) award.

The PropertyGuru Asia Property Awards (Singapore) are part of the regional PropertyGuru Asia Property Awards series, marking its 19th year in 2024. The series covers key markets across the region, spanning Southeast Asia, East Asia, South Asia, and Oceania, with exclusive gala dinners and ceremonies that represent the most anticipated property events of the year.

Organised by PropertyGuru Group (NYSE:PGRU), the 14th PropertyGuru Asia Property Awards (Singapore) are supported by gold sponsor Mitsubishi Electric Asia; official portal partner PropertyGuru.com.sg; official magazine Property Report by PropertyGuru; media partner Top 10 Singapore; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS

PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair, and transparent.

In 2024, the Awards series is open to key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2024.

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP

PropertyGuru is Southeast Asia’s leading(1) PropTech company, and the preferred destination for over 34 million property seekers(2) to connect with almost 55,000 agents monthly(3) to find their dream home. PropertyGuru empowers property seekers with more than 2.8 million real estate listings(4), in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then, PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 16 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform, Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn

(1) Based on SimilarWeb data between July 2023 and December 2023.
(2) Based on Google Analytics data between July 2023 and December 2023.
(3) Based on data between October 2023 and December 2023.
(4) Based on data between October 2023 and December 2023.

PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino, Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com

Media & Partnerships:
Piyachanok Raungpaka, Media Relations & Marketing Services Executive
M: +66 94 887 5163
E: piyachanok@propertyguru.com

Sales & Nominations:Alicia Loh, Awards Manager (Singapore)
M: +65 8382 0078
E: alicia@propertyguru.com.sg

The 7th PropertyGuru Asia Property Awards (Australia) launch with enhanced categories ahead of anticipated return to Melbourne

SYDNEY, AU, Apr 5, 2024 – (ACN Newswire) – With fresh leadership and greater support from local developers, the PropertyGuru Asia Property Awards (Australia) programme has officially opened with an enhanced roster of categories for its 2024 edition.

The black-tie dinner and presentation ceremony of the 7th Annual PropertyGuru Asia Property Awards (Australia) are now set for Friday, 11 October 2024 at the Grand Hyatt Melbourne. They mark the second occurrence of the gala celebration on Australian soil, following its historic 2023 edition also held in the Victorian capital.

Entry submissions are accepted online until 2 August 2024 via: AsiaPropertyAwards.com. From left to right: JOSH CHYE, Partner, Tax Consulting, HLB Mann Judd, the Awards Official Supervisor; JULES KAY, General Manager, PropertyGuru Asia Property Awards & Events; TRAVIS SU, Managing Partner, Skyland; IVAN LAM, Head of International Business, Charter Keck Cramer, Chairperson of the Judges; and; LUI VIOLANTI, Regional Manager, Western Australia, Inhabit Group, Vice Chairperson of the Judges

JULES KAY, General Manager, PropertyGuru Asia Property Awards & Events

TRAVIS SU, Managing Partner, Skyland, Winner of Best Luxury Boutique Developer 2023

IVAN LAM, Head of International Business, Charter Keck Cramer, Chairperson of the Judges

Submissions from the industry and the public are now accepted via asiapropertyawards.com/nominations until 2 August 2024.

New details on the awards, collectively known as the Gold Standard of real estate, were announced today during the “Connect with Southeast Asia” event at the Four Seasons Hotel Sydney.

Key dates for the 2024 edition:
2 August 2024 – Entries close
12 August – 9 September 2024 – Site Inspections
10 September 2024 – Final Judging
11 October 2024 – Gala Dinner and Awards Ceremony in Melbourne, Australia
13 December 2024 – Regional Grand Final Gala Presentation in Bangkok, Thailand

A wide net of recognition

The 2024 awards for Australia comprise 102 categories, casting a wide net of recognition over outstanding real estate enterprises, developments, and designs throughout the continent. Categories cover the finest developers and projects not only in New South Wales (NSW) and Victoria but also in the Australian Capital Territory (ACT), Queensland, South Australia, and Western Australia.

New categories include the never-before-presented ESG awards, recognising companies that advocate for and excel in sustainable design, sustainable construction, energy efficiency, and social impact. Other new categories stand to honour outstanding condominium and housing developments for investment, as well as nature-integrated developments and even sales galleries.

New chairperson, supporting association

An independent panel of expert judges fairly and transparently determines the shortlist of nominees and list of winners. The judging panel conducts its duties this year under a new chairperson: Ivan Lam, head of international business, Charter Keck Cramer.

Mr. Lam succeeds Lui Violanti, regional manager, Western Australia, Inhabit Group, who remains on the programme as vice-chairperson of the judging panel.

Mr. Lam said: “It’s evident that Australia remains a top choice for property seekers from all over Asia-Pacific. The return of buyers, from families of international students to investors looking for great returns, underscores Australia’s importance on the global stage. As we appreciate the investment shifts and trends that move this property market, we are thrilled to recognise and reward the developers at the forefront of this transformation, creating spaces that resonate with property seekers at home and abroad.”

This year, the awards programme has added the Australian Property Developers Association as supporting association, joining such esteemed organisations as Australia Malaysia Business Council Victoria and Melbourne Chinatown Association in celebrating the Gold Standard of real estate.

The entire selection process is made credible and impartial under the supervision of Josh Chye, partner, tax consulting, HLB Mann Judd.

Strengthened appeal

The latest edition of the awards launches as Australia recovers and strengthens its appeal to overseas property buyers, according to Property Report by PropertyGuru, the official magazine.

Record sale prices have been reported around the country, from award-winning waterfront residences to large estates and apartment units, while institutional investors and international students have resumed exploring new opportunities nationwide.

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “As we enter our seventh year of celebrating success in the country’s real estate sector, Australia’s appeal to property seekers from Asia remains strong. Amid global uncertainties, Australia offers a well-regulated environment, attracting international investors as a haven of stability and opportunity. From the picturesque waterfronts of Gold Coast to the multicultural cities of tomorrow in New South Wales and Victoria, Australia offers some of the finest lifestyle value propositions in the world. The PropertyGuru Asia Property Awards amplify this message, providing a platform to showcase Australia’s best real estate to the rest of Asia-Pacific.”

Joining Mr. Kay at the launch event was Travis Su, managing partner of Skyland Group, winner of the Best Luxury Boutique Developer title at the 6th PropertyGuru Asia Property Awards (Australia) 2023.

Skyland Group and other major winners of the 2023 awards went on to compete with their peers across Asia-Pacific at the 18th PropertyGuru Asia Property Awards Grand Final 2023 in Bangkok, Thailand. Developers from Australia received five regional wins at the event known as the culmination of the regional PropertyGuru Asia Property Awards series.

The PropertyGuru Asia Property Awards (Australia) are part of the PropertyGuru Asia Property Awards series, which marks its 19th year in 2024. The series covers key markets across the region, spanning Southeast Asia, East Asia, South Asia, and Oceania, with exclusive gala dinners and ceremonies that represent the most anticipated property events of the year.

Organised by PropertyGuru Group (NYSE:PGRU), the 7th PropertyGuru Asia Property Awards (Australia) are made possible by supporting associations Australia Malaysia Business Council Victoria, Australian Property Developers Association, and Melbourne Chinatown Association; official magazine Property Report by PropertyGuru; official publicity partner Good Talent Media; media partners Australian Property Investor Magazine, Australian Property Journal, Marketing In Asia, PhilTimes.com.au, The Property Tribune, and Your Investment Property Magazine; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP

PropertyGuru is Southeast Asia’s leading1â€¯PropTech company, and the preferred destination for over 34 million property seekers2â€¯to connect with almost 55,000 agentsâ€¯monthly3 to find their dream home. PropertyGuru empowers property seekers with more than 2.8 million real estate listings4, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then, PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 16 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform,Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn

(1) Based on Similar-Web data between July 2023 and December 2023.
(2) Based on Google Analytics data between July 2023 and December 2023.
(3) Based on data between October 2023 and December 2023.
(4) Based on data between October 2023 and December 2023.

PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino, Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com

Media & Partnerships:
Nate Dacua, Media Relations & Marketing Services Manager
M: +66 92 701 2510
E: nate@propertyguru.com

Sales & Nominations:
Watcharaphon Chaisuk (Jeff), Solutions Manager
M: +66 95 797 0595
E: jeff@propertyguru.com

Monika Singh, Solutions Manager
M: +66 87 677 4812
E: monika@propertyguru.com

Analogue Records Net Profit of HK$251.5 Million in FY2023

HONG KONG, Mar 25, 2024 – (ACN Newswire) – Analogue Holdings Limited (“Analogue” or the “Company”, together with its subsidiaries, the “Group”) (stock code: 1977), a leading electrical and mechanical (“E&M”) engineering and technology service provider in Hong Kong, today announced its annual results for the year ended 31 December 2023 (“the Year” or “FY2023”), with net profit more than doubling despite the impact of a variety of challenges.

Highlights

— Total revenue amounted to HK$6,132.9 million

— Profit attributable to owners of the Company increased to HK$251.5 million, a year-on-year growth of 119.5%

— Contracts-in-hand remained at a high level of HK$11,459.6 million

— Annual dividend amounted to HK9.52 cents per share

The Group’s revenue for the Year was HK$6,132.9 million and gross profit was HK$833.3 million. Profit attributable to owners of the Company was HK$251.5 million, representing a year-on-year increase of 119.5%. The Group’s contracts-in-hand remained at a high level of HK$11,459.6 million, providing a solid foundation for the business going forward. The Group has also been proactive in its tendering activities, with a total of 1,079 tenders or quotations each valued at over HK$1 million during the Year.

The Board has resolved to pay a second interim dividend of HK1 cent per share for the Year. Together with the first interim dividend of HK8.52 cents per share, the total dividend for the Year amounted to HK9.52 cents per share.

Dr Otto Poon Lok-to, Founder of Analogue Holdings Limited, said, “Over the past year, we have witnessed the complexity of our times, with economic, geopolitical, and environmental concerns. As for Hong Kong’s construction industry, it has been facing stiff headwinds created in part by imbalances that have led to manpower, quality, efficiency and safety issues, among others. Such issues have resulted in delays, disputes and construction costs that are among the highest in developed economies. Nevertheless, in our commitment to be the preferred E&M engineering and technology service provider, we are addressing these imbalances pragmatically and dynamically, supported by our development strategy comprising the three pillars of ‘New Technology’, ‘New Market’, and ‘New Business Model’. With Dr Mak Kin Wah assuming the position of Chairman of the Board, I believe the Group will set sail for new horizons under his leadership.”

Contracts-in-hand in the Building Services segment increased by 6.9% to HK$5,815 million as at 31 December 2023. The segment generated revenue of HK$3,736 million during the Year. The recurring revenue was strengthened with new maintenance contracts of HK$600 million secured during the Year. With a focus on innovation and sustainability, the Group won a major Mechanical, Electrical and Plumbing (“MEP”) package contract of a prime commercial project in Causeway Bay with its innovative commercial building solutions, demonstrating its outstanding expertise in Building Information Modelling (“BIM”) and Multi-trade Integrated Mechanical, Electrical and Plumbing (“MiMEP”). Quality, safety, cost and project management have been improved through the adoption of ATAL Building Services Prefabrication and Modularisation (“ABSPM”) construction technology and digitalisation. The Group’s data centre project team secured and commenced a number of large-scale data centre projects, including one of its largest Management, Operation and Maintenance (“MOM”) service contracts for a government data centre.

Revenue of the Environmental Engineering segment grew by 9.9% to HK$1,356 million year-on-year, with contracts-in-hand amounting to HK$4,165 million as at 31 December 2023. During the Year, the Group won seven major new contracts or significant variation orders, underscoring its expertise in quality water, wastewater, and solid waste infrastructure project management services. It also introduced innovative models for the reinforcement, protection, and operation and maintenance (“O&M”) of wastewater treatment plants to extend their lifespan and ensure they provide optimal service to Hong Kong. In particular, the major operation and maintenance project for electrical and mechanical works at the water recycling and solid waste management facility in Shatin commenced in November 2023. Beyond Hong Kong, the Group’s first project in Nepal is scheduled for completion in the third quarter of 2024, with testing and commissioning scheduled to begin in 2024. Other tendering and quotation activities outside Hong Kong and Mainland China included water and wastewater treatment projects in Batangas and Pasig in the Philippines, and wastewater treatment plants in Sallaghari, Kodku and Dhobighat in Nepal.

Information, Communications and Building Technologies (“ICBT”) segment had contracts-in-hand amounting to HK$843 million as at 31 December 2023, with revenue up by 5.1% year-on-year to HK$663 million. Committed to driving Hong Kong’s transformation into a “Smart City” and “Smart Economy”, the green and intelligent building solutions offered by the ICBT segment integrate a wide range of information and communications technologies, including AI-enabled Digital Twin, energy management technologies, ESG dashboards, Indoor Environment Quality (“IEQ”) Management, robotic solutions, and Smart Lampposts. The Group’s cutting-edge technologies continued to make waves in Hong Kong’s prestigious buildings in prime business districts. Its integrated Building Management System (“BMS”), Internet of Things (“IoT”), Extra Low Voltage (“ELV”) and Information and Communications Technology (“ICT”) systems have been adopted in a world-class smart office and commercial building currently under construction in Causeway Bay. In addition, the Group secured its second IoT-based smart hostel solution at one of Hong Kong’s universities, solidifying its position as a leading provider of smart solutions in the education sector. The Group’s BMS and energy optimisation solution was also selected for two prestigious commercial buildings above West Kowloon Station, as well as two commercial buildings and a laboratory focused on innovation and technology in the Lok Ma Chau Loop area.

Revenue from the Lifts and Escalators segment increased by 7.2% year-on-year to HK$378 million, with contracts-in-hand amounting to HK$637 million as at 31 December 2023. Maintenance contracts for both commercial and government buildings were major profit contributors during the Year. The Group’s renowned Anlev brand serves millions of users in Asia, the Americas and Europe through its lifts, escalators and moving walkways, while its Hong Kong arm is one of the leading lift and escalator contractors in the region. Strategic orders secured by Anlev in 2023 included a wide range of mixed-use residential buildings in Canada, public transportation in Mexico, private housing in Singapore, prestigious government offices in Hong Kong, and orders in Mainland China. In the United States (the “US”), the Group has widened its focus through Transel Elevator & Electric Inc. (“TEI”) in commercial properties to include residential market, and has expanded operations to the Southern States of the US, because in this area the property development is showing a greater growth. In the United Kingdom (the “UK”), the Group’s wholly-owned subsidiary Anlev (UK) Limited finalised order for the iconic and prestigious projects in Manchester, Birmingham and London. To expand its global network and further its strategy, Anlev has recently completed two acquisitions – JCW Lifts Ltd (“JCW”) and Precision Lift Services Limited (“Precision”) – both successful lift businesses in the UK. It will also seek new distributors in the US, Europe, the Middle East and Southeast Asia.

“Having established footholds in the US and the UK, followed by our acquisition of two lift companies in the UK in the Year, we are able to provide comprehensive one-stop lift and escalator services and fortify our position in Europe. In achieving the latter and bolstering our presence in the US, we will seek to offer our Group’s full range of E&M engineering and technology services in these markets incrementally to broaden our income streams and expand our footprint,” added Dr Poon.

Driven by high market demand and growth opportunities in various market segments, as reflected in its strong tender activity throughout 2023, the Group is positive about its business outlook. Its continued success in securing new business opportunities and winning contract tenders provides a good foundation for the Group to remain competitive in the industry and expand its revenue, customer base and market reach. In preparation for the future and further business growth and development, operating units have been re-organised. The Group will continue to explore potential synergistic business opportunities and equity partnerships, including expansion into East Asia, Southeast Asia, and the Middle East.

Dr Mak Kin Wah, Chairman of Analogue Holdings Limited, said, “I would like to express our gratitude for the contributions that Dr Poon has made and will continue to make. With my new position as Chairman of the Group, I will continue to contribute my leadership to the Group’s strategy, operations and governance to take the Group to new heights. Our Group has a solid foundation for future business, with a large number of contracts-in-hand, active tendering, and ample opportunities in the market, with Hong Kong alone offering HK$300 billion per annum of construction business opportunities. Our priority is to carefully safeguard our core business to capitalise on these opportunities and our broad portfolio of construction and O&M business. We will invest in the continuous enhancement of our leadership in MIC, MiMEP, IoT, energy and selected areas of technology. With an established presence in the UK and US, we aim to integrate these operations to take advantage of global market opportunities.”

For further details of the 2023 Annual Results, please refer to the announcement filed with The Stock Exchange of Hong Kong Limited.

About Analogue Holdings Limited

Established in 1977, Analogue Holdings Limited is a leading electrical and mechanical (“E&M”) engineering and technology service provider, with headquarters in Hong Kong and operations in Macau, Mainland China, the United States and the United Kingdom. Serving a wide spectrum of customers from public and private sectors, the Group provides multi-disciplinary and comprehensive E&M engineering and technology services in four major segments, including Building Services, Environmental Engineering, Information, Communications and Building Technologies (“ICBT”) and Lifts & Escalators.

The Group also manufactures and sells Anlev lifts and escalators internationally and has entered into an alliance with Transel Elevator & Electric Inc. (“TEI”), one of the largest independent lifts and escalators companies in New York, the United States. The Group’s associate partner, Nanjing Canatal Data Centre Environmental Tech Company Limited (603912.SS), specialises in manufacturing of precision air conditioners.

Graphene Manufacturing Group Secures AU$2 Million Funding Grant from Queensland Government for Battery Pilot Plant

Brisbane, Queensland, Australia–(ACN Newswire – March 25, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) (“GMG” or the “Company“) announces that the Company has signed a Queensland Critical Minerals and Battery Technology Fund Agreement with the State Government of Queensland for a grant of AU$ 2 million towards the funding of GMG’s proposed Automated Battery Pilot Plant for the manufacture of GMG’s Graphene Aluminium Ion Battery.

The State Government of Queensland established the Queensland Critical Minerals and Battery Technology Fund to support Australian business to compete globally by enhancing the extraction and processing of critical minerals in Queensland, accelerating the development of battery technologies and production of precursor or advanced materials in Queensland and supporting Queensland jobs and economic growth.

The grant is for the payment of 50% of the capital cost of GMG’s proposed Automated Battery Pilot Plant, up to a maximum of AU$ 2 million, for the manufacture of GMG’s Graphene Aluminium Ion Battery. The Pilot Plant would be constructed at GMG Richland’s existing manufacturing facility, and the grant is conditional on various preconditions including GMG taking a final investment decision in the Battery Pilot Plant project.

GMG’s CEO Craig Nicol stated, “We want to thank the Queensland Government and acknowledge its commitment to supporting the Critical Mineral and Battery Manufacturing Industry in the State. This is great recognition for GMG and GMG’s next generation Graphene Aluminium Ion Battery and further shows the progress of the battery’s development. We are very excited about this next phase of its maturation.”

GMG’s Chairman and Non-Executive Director, Jack Perkowski, commented: “This represents further progress for the Company, and I congratulate GMG on its success in securing this grant. I also would like to thank the Queensland Government for recognising and supporting GMG in this phase of its battery’s development.”

Queensland Government Deputy Premier, Treasurer and Minister for Trade and Investment Cameron Dick said:

“The Miles Labor Government is propelling Queensland through an energy transformation that will create jobs.”

“I am so pleased that this new plant will create 12 good quality jobs. Projects like this are helping set the path in creating thousands of secure jobs for Queenslanders while providing the clean, reliable and affordable energy every household and business needs.”

“The $100 million Queensland Critical Minerals and Battery Technology Fund is playing its part by supporting businesses across the supply chain like Redflow, Revolver Resources, and now GMG.”

“GMG’s innovative use of graphene, in partnership with UQ, is another example of our homegrown ingenuity that we will continue fostering here in Queensland.”

“Their graphene aluminium-ion batteries could prove to be a real gamechanger on the world market and elevate Queensland’s local battery industry to the next level.”

About GMG
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation, and air conditioning (“HVAC-R”) coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries (“G+AI Batteries”).

GMG’s 4 critical business objectives are:

Produce Graphene and improve/scale cell production processes
Build Revenue from Energy Savings Products
Develop Next-Generation Battery
Develop Supply Chain, Partners & Project Execution Capability

For further information please contact:

Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

www.graphenemg.com

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the use of funds from the grant, the production capacity of the proposed automated battery pilot plant, the location of the proposed automated battery pilot plant, the grant showing the progress of the GMG’s battery’s development, and the next phase of the battery’s maturation.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the production capacity of the proposed automated battery pilot plant, that the funds from the grant will be used as management currently expects, that the proposed automated battery pilot plant would be built at the Company’s existing manufacturing facility in Richland, that the grant shows the progress of the graphene aluminium ion battery’s development, and that the maturation of the graphene aluminium ion battery will proceed as management currently expects.

Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the use of funds from the grant will differ from management’s expectations, that the automated battery pilot plant would not be capable of manufacturing approximately 1MWh per annum of GMG’s graphene aluminium ion battery, that the proposed automated battery pilot plant will not be built at GMG’s Richland facility, or at all, that the grant does not demonstrate the progress of the graphene aluminium ion battery’s development, that the maturation of the graphene aluminium ion battery will not proceed as currently expected by management, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202979

Raychem RPG achieves significant milestone to facilitate faster execution in electricity distribution projects with its ‘Make India’ initiative

NEW DELHI, Mar 19, 2024 – (ACN Newswire) – Raychem RPG, established in 1989, is a 50:50 joint venture between TE Connectivity, U.S.A., and RPG Enterprises, India. Raychem RPG is the imprint of a successful Indo-US bilateral relationship that has lasted for nearly four decades, the longest of its kind.

Raychem RPG has added another significant feather to its already decorated portfolio, by completing the very stringent, yearlong Pre-Qualification (PQ) test protocols, at Central Power Research Institute (CPRI) for its 245KV cable accessories manufactured in India.

CPRI has now approved its 245 KV, Extra High Voltage Cable Accessories (EHVCA) for usage in India for different projects, which are so far dependent on imports from Europe. This marks a significant milestone and achievement, catapulting Raychem RPG to unprecedented heights within the EHVCA product portfolio.

Raychem RPG is the only organisation among its peers to have received the PQ test report following a rigorous process that took over a year to complete. The bagging of the test report also bears testimony to Raychem RPG’s hitherto unheralded technical and technological prowess in the area and the success of the “Make in India” initiative.

This success will enhance the acceptability of Raychem RPG’s 245kV cable accessories not only in the Indian markets but also in SAARC countries, namely Bangladesh, Nepal, and Srilanka where many infrastructure projects are currently ongoing, and this will significantly help in better project management. The product, belonging to the EHVCA category, is produced in the JV’s Halol plant in Gujarat using world class material. Raychem RPG’s product will now receive widespread acceptance across the country. India will no longer have to rely on imports to meet the growing domestic demand, which was entirely met through imports.

Commenting on the development, Mr Vivek Venkatachalam, CEO of Raychem RPG, said, “With unwavering dedication, we strive to champion the Make in India initiative and actively contribute to advancing our nation’s progress and self-reliance.”

Adding to this Mr. Sankara Raman, Sr. VP – Operations & Technology of Raychem RPG said, “Engineering excellence is not just a goal; it’s a commitment to pushing boundaries and ensuring our product development & testing capabilities reflect the forefront of innovation. At Raychem RPG, we embraced the challenge of EHVCA with unwavering dedication and the recent attainment of the PQ test report for our 245kV cable accessories marks a significant milestone that will undoubtedly propel Raychem RPG to unprecedented heights within the EHVCA product portfolio.”

Mr. Tamal Kanti Saha, Sr. VP and Head – Global Sales & Marketing, Raychem RPG commented, “As we continue in the journey of self-reliance & ‘Make in India’ initiative a success, we stand determined to support all our customers and large infrastructure projects, with our commitment in delivering world-class products with speed, affordability, and unwavering reliability. With comprehensive installation and after-sales services, coupled with manufacturing warranty, we pave the way for faster project execution and unparalleled peace of mind in every infrastructure project in India and SAARC countries wherever EHVCA are currently used through costly imports with long lead time and associated execution challenges.”

Besides Halol, Raychem RPG’s operation facilities are located at Vasai, Chakan, and Naigaon in Maharashtra, India. All the facilities are covered under a multi-site certification to management systems, thus providing the company with one platform to carry out good management practices across locations without diluting the focus of each plant.

About Raychem RPG:

A Joint Venture between TE Connectivity, U.S.A. and RPG Enterprises, India, Raychem RPG has the distinction of being one of the longest, most successful joint ventures in India for nearly four decades. Raychem RPG caters to the infrastructure segment of multiple industries. Its pioneering technologies provide solutions for various businesses in the domestic and global markets. The company caters to segments such as Cable Management & Connection Systems, Asset & Theft Protection Systems, Loss Reduction Systems, Electrical Safety Products, Energy Efficient Transformers, Gas Flow Metering and Manufacturing Processing Outsourcing.

For media inquiries, please contact:

Raychem RPG: Anuneha Sinha, Global Lead – Communications, +91-8879114246, Email address: Anuneha_Sinha@raychemrpg.com

Website: https://www.raychemrpg.com/

Techtronic Industries Delivers Solid 2023 Annual Results

HONG KONG, Mar 6, 2024 – (ACN Newswire) – Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, OTCQX: TTNDY, TTNDF) is pleased to announce the audited consolidated results of the Company and its subsidiaries for the year ended December 31, 2023. TTI delivered US$13.7 billion of sales in 2023, up 3.6% in reported growth and 3.9% in local currency. Both the MILWAUKEE and our Consumer group of businesses gained momentum in the second half of 2023.

— TTI delivered record free cash flow of US$1.3 billion while outperforming the market in sales growth and profit generation

— Our Flagship MILWAUKEE business grew sales 10.7% in local currency

— We improved Gross Margin for the 15th consecutive year to 39.5%, a 14 bps increase, while cutting inventory US$987 million versus last year

Financial Performance Highlights for 2023
	2023* US$’ million	2022 US$’ million	Changes
Revenue	13,731	13,254	+3.6%
Gross profit margin	39.5%	39.3%	+14bps
EBIT	1,135	1,201	(5.5%)
Profit attributable to Owners of the Company	976	1,077	(9.4%)
Basic earnings per share (US cents)	53.36	58.86	(9.3%)
Free Cash Flow	1,281	329	+952m
Dividend per share (approx. US cents)	24.84	23.81	+4.3%

*For the year ended December 31, 2023

Gross margin improved 14 bps to 39.5% in 2023. This gross margin improvement is highly encouraging given the significant US$987 million inventory reduction versus last year. EBIT was at US$1.1 billion, 5.5% lower than 2022. In the second half of 2023, EBIT improved to US$575 million, a 1.1% increase versus the second half of 2022. TTI delivered US$976 million of net profit. The decline of 9.4% versus last year was partially driven by significant increases in interest rates over the period, resulting in higher interest expense. Earnings per share also declined 9.3% to US53.36 cents. Working capital as a percent of sales improved from 21.2% last year to 17.7% in 2023. This reduction in working capital helped drive record free cash flow of US$1.3 billion for the year and the Group is well positioned to deliver strong free cash flow in 2024 and the future.

The TTI Power Equipment segment delivered sales of US$12.8 billion in 2023, up 3.8% in reported currency and up 4.1% in local currency. MILWAUKEE delivered 10.7% full year sales growth in local currency, improving to 12.7% local currency growth in the second half, versus 8.7% in the first half. Our Consumer group of businesses also delivered positive sales growth in the second half and are well positioned to continue gaining traction in 2024. Our Floorcare and Cleaning business delivered sales growth in 2023 of 1.5% in local currency to US$937 million and profit increased US$65.3 million versus last year to US$27.2 million.

The Board is recommending a final dividend of HK98.00 cents (approximately US12.61 cents) per share. Together, with the interim dividend of HK95.00 cents (approximately US12.23 cents) per share, this will result in a full-year dividend of HK193.00 cents (approximately US24.84 cents) per share.

Mr. Horst Pudwill, Chairman of TTI, said, “TTI is poised for continued market outperformance in 2024. We are relentlessly focused on developing innovative cordless products with advanced electronics, cutting-edge motor technology, and artificial intelligence. With a healthy balance sheet, solid cash position, and strong growth outlook, we look forward to 2024 with confidence.”

Mr. Joseph Galli, CEO of TTI, commented, “Our exceptional results over the past fifteen years have consistently surpassed overall market performance. 2024 will be no exception, as we are poised to outperform the market yet again. Our strength in cordless innovation, new product development, operational excellence, and in-field marketing initiatives are unparalleled in the industry and give TTI an unassailable competitive advantage.”

Forward-Looking Statements

This announcement contains certain forward-looking statements or uses certain forward-looking terminologies which are based on the current expectations, estimates, projections, beliefs and assumptions of TTI about the businesses and the markets in which the Group operates and reflect TTI’s views as of the date of this announcement. These forward-looking statements are not guarantees of future performance and are subject to market risk, uncertainties and factors beyond the control of TTI. Therefore, actual outcomes and returns may differ materially from the assumptions made and the statements contained in this announcement.

About TTI

TTI is a world leader in cordless technology spanning Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products for the DIY, consumer, professional, and industrial users in the home, construction, maintenance, industrial and infrastructure industries. The Company has a foundation built on four strategic drivers – Powerful Brands, Innovative Products, Exceptional People and Operational Excellence – reflecting an expansive long-term vision to advance cordless technology. The global growth strategy of the relentless pursuit of product innovation has brought TTI to the forefront of its industries while maintaining high environmental, social and corporate governance standards. TTI’s powerful brand portfolio includes MILWAUKEE, RYOBI and AEG power tools, accessories and hand tools, RYOBI outdoor products, EMPIRE layout and measuring products, and HOOVER, VAX, DIRT DEVIL and ORECK floorcare cleaning products and solutions.

Founded in 1985 and listed on The Stock Exchange of Hong Kong Limited in 1990, TTI is one of the constituent stocks of the Hang Seng Index, Hang Seng Corporate Sustainability Benchmark Index, FTSE RAFI(TM) All-World 3000 Index, FTSE4Good Developed Index, and MSCI ACWI Index. The Company also trades on the OTCQX Best Market under the symbols “TTNDY” and “TTNDF”. For more information, please visit www.ttigroup.com.

All trademarks listed other than AEG, OTCQX, and RYOBI are owned by the Group. AEG is a registered trademark of AB Electrolux (publ.), and is used under license. OTCQX is a registered trademark of OTC Markets Group Inc. RYOBI is a registered trademark of Ryobi Limited, and is used under license.

For Investor Relations enquiries:

Main Contact

TTI Investor Relations – North America

Ross Gilardi

Senior Vice President, Finance & Investor Relations

Email: ross.gilardi@ttihq.com

Asia/Pacific

TTI Investor Relations – Asia

Jimmy Li

Senior Manager, Investor Relations

Email: jimmy.li@tti.com.hk