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Minesto publishes Year-End Report 2024

GOTHENBURG, Sweden, Feb. 27, 2025 /PRNewswire/ — CEO Dr. Martin Edlund: “Minesto has now demonstrated competitive renewable energy production from an untapped natural resource based on a truly novel and proprietary innovation.”

Significant events October – December 2024

Minesto’s work towards tidal energy buildout in the Faroe Islands continues. The Hestfjord Dragon Farm is a first-of-a-kind tidal energy array with Minesto Dragon 12-kites with a total capacity of 10 MW in a first phase. Following the successful utility-scale installation of the Dragon 12 in Vestmanna and corresponding interest by various parties in the technology, Minesto assigns strategic advisor Ernst & Young (EY) to the unique Dragon Farm Project, with focus on investments.

In December, Minesto announces completion of Hestfjord Dragon Farm specification based on Dragon 12 achievements. This refers to the overall design and technical specification of the upgraded Dragon 12 system targeting the first Dragon farm in Hestfjord (Phase 1: 10MW) in the Faroe Islands.

Minesto presents at one of the biggest international energy conferences, Enlit Europe in Milan. CEO Dr. Martin Edlund also presents at global climate change meeting COP29 in Baku, Azerbaijan where Minesto is hosting a session on the role and importance of innovation in tackling climate change.

The company arranges a well-attended capital market day at the company’s premises in Gothenburg, welcoming shareholders to experience the Minesto workshop and power plant components.

After the end of the period

In February, Minesto welcomes Faroese stakeholders, authorities as well as the public to a seminar at the Nordic House in Torshavn. CEO Martin Edlund presented the company’s vision for a sustainable energy system in the Faroe Islands, a 200MW buildout roadmap. There was a strong stakeholder engagement towards Minesto’s first tidal energy Dragon farm in Hestfjord, Faroe Islands.

An independent technical review of Minesto’s Dragon-class technology initiated in autumn 2024 is completed by DNV – a world leader in technology assessments and certifications in the energy & maritime sectors, incl. renewable energy solutions. The successfully completed review strengthens Minesto’s buildout investment case.

Group in summary 1 January-31 December 2024

1 January-31 December 2024

  • Total operating income in the end of the financial year amounted to SEK 33,035 thousand (45,590) and mainly included capitalised development work. Net sales amounted to SEK 75 thousand (391).
  • Operating loss, at the end of the financial year, amounted to SEK -37,345 thousand (-28,680). The negative result is largely attributable to business development and administration related to technology development.
  • At the end of the financial year, intangible assets amounted to SEK 544,924 thousand (492,928), of which capitalised development costs amounted to SEK 527,708 thousand (476,608) and capitalised patent expenses amounted to SEK 17,217 thousand (16,320).
  • Cash flow amounted to SEK 19,436 thousand (-20,015). At the end of the period, cash and cash equivalents amounted to SEK 34,890 thousand (15,160).
  • At the end of the financial year, equity amounted to SEK 568,649 thousand (522,746) divided into 194,116,040 shares (160,732,694), of which net loss for the year amounted to SEK -36,104 thousand (-27,123).

The Year-end Report is available to download at Minesto’s website:
www.minesto.com/investor/investor-information

CEO comment

Reinforcing Minesto as the World Leader in Ocean Renewables

2024 was a year of outstanding achievements for Minesto. The success of Dragon 12 puts us in a solid position to release the commercial potential of our unique ocean energy technology. 

Minesto has now demonstrated competitive renewable energy production from an untapped natural resource based on a truly novel and proprietary innovation. 

Backed up by performance and production data from installed devices, Minesto has assessed the cost of energy of its technology at lower levels than all other actors in ocean energy and most importantly, in our target markets, we offer the most viable or the only viable solution for an affordable energy transition. At last, the marine energy sector has a commercially viable energy generating technology ready for large scale buildout.

Ready for Dragon Farms

During 2024, all technical aspects of a commercial Dragon farm – a grid connected array of Dragon 12 units – have been successfully verified at the site in Vestmanna. Limited upgrades and customizations required are identified and in implementation for the first phase of Dragon Farm build outs.

It is important to underline that to commercialize the core Dragon-class technology, Minesto is relying on a wide range of unique and hard-earned technologies and competencies accumulated (internally and with partners) over more than a decade. So stating that we are “ready for farms” is not made lightly and implies that we are a master of all core activities such as: tidal site assessment, environmental consenting, production array design, infrastructure configuration, balance of plant, service procedures, offshore launch/recovery, grid connection, production monitoring, powerplant build and onshore testing, array installation management and power plant commissioning.

Most recently, the independent review of Minesto’s technology by DNV has been successfully completed. The review underlines the strength of our technology and our readiness to deploy at scale. It also supports our core arguments that our technology is generically cost effective.

Pushing for Business

During the year, Minesto has created energy project investment cases, initiated feasibility studies targeting specific production sites, hosted due diligence from potential customers and strengthened collaboration with our local partners around the world.

We have continued to nurture a strong relationship with the Faroe Islands’ business community and investor sphere. A renewed and updated power purchase agreement (PPA) with a price level to denote the total system value of tidal energy in the future renewable energy mix in the Faroe Islands is agreed in principle for the first phase of the Hestfjord buildout.

The Phase 1 Hestfjord Dragon Farm investment case is now open for business, the plan includes a newly established local project development company, Drekin Sp/f, where local investors can eventually become part owners of a 200MW tidal farm project in the Faroe Islands. The investment case includes the technical specification of the Phase 1 buildout, targeting the specific site conditions in Hestfjord, which is based on six customized Dragon 12 kites systems rated at 1.75MW, 10.5 MW in total.

In a number of markets around the world, Minesto has been asked to offer feasibility studies, project planning services, demo-installation projects and the creation of larger scale investment cases like Hestfjord. We are working with new and existing local market actors such as independent power producers and utilities. We believe that the novelty of the ocean energy industry and uniqueness of our products makes it necessary to offer customers and project investors flexible step in commercial involvement.

An important enabling factor in ongoing sales and project investment activities is public funding in different forms. The renewable energy transition is an area in focus for government grants, green electricity subsidies and soft loans. Our soft funding team is working together with our business development team to target application calls which directly support sales and project finance work. Minesto holds a broad application portfolio targeting programs that will be awarded during 2025.

We have strengthened our commercial team internally and have partnered up with internationally recognized advisory firm EY to support securing project financing and industrial partnerships. Minesto also receives valuable support from Business Sweden in Southeast Asia, via grant-funding from the Swedish Energy Agency.

It is worth noting that the volume of sales activities have significantly increased, driven by the level of maturity of our products and step change in global awareness of our innovation.

An Evolving Team

The collective knowledge, experience and capabilities in the Minesto team is at the core of the value of the company. Our intangible assets, built through technology investments, now reaches around 540 MSEK in accounting terms.

We have strengthened the organization regarding supply chain partnerships, operations in Vestmanna and through integration of product and business development in Sweden.

  • The management team is more commercially oriented and strengthened.
  • A ca 30% overall reduction in personnel costs (from 2023 to 2025) has been achieved.
  • A flexible operations team is in place in Vestmanna for the Faroe Island expansion.

Funding and cash flow

A combination of work streams to fund continued development and product delivery capacity are ongoing. We are not excluding any scenario in seeking the optimal way forward in creating industrial and shareholder value. The range of funding sources are sales of services and electricity, sales of microgrid hardware and installations, project finance with prepayments, soft funding, targeted new strategic investors/owners and issuance of securities.

Martin Edlund
CEO, Minesto AB

For additional information, please contact
Cecilia Sernhage, Chief Communications Officer
+46 735 23 71 58
ir@minesto.com

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/minesto-ab/r/minesto-publishes-year-end-report-2024,c4111631

The following files are available for download:

https://mb.cision.com/Main/14621/4111631/3287652.pdf

Minesto AB Year-End Report 2024

https://mb.cision.com/Public/14621/4111631/bf836eaf2b780ee4.pdf

PR 270225 Minesto publishes Year-End Report 2024

 

Beko Calls for a United Industrial Policy in Harmony with Climate Ambitions at Clean Industrial Deal Event

As the only signatory of the Antwerp declaration from the home appliances industry and the largest appliance manufacturer in Europe, Beko supports Europe’s quest for boosting manufacturing strength and driving competitiveness all while upholding sustainability

ISTANBUL, Feb. 27, 2025 /PRNewswire/ — As Europe moves toward a new era of industrial policy, Beko, the continent’s largest home appliance manufacturer, is making the case for a stronger, more unified approach. Attending the key event on the Deal, Beko emphasizes the urgent need to ensure that industries investing in decarbonization, energy efficiency, and innovation remain globally competitive.

 

Hakan Bulgurlu, Beko, CEO
Hakan Bulgurlu, Beko, CEO

 

Having built its success on energy efficiency, sustainability, and responsible innovation, Beko is advocating for a forward-looking industrial strategy that moves beyond regulation and toward meaningful investment in clean technology, resilient supply chains, and competitive manufacturing.

Commenting on the deal, Hakan Bulgurlu, CEO of Beko, stated: “Europe needs a bold, investment-driven industrial strategy and regulatory framework that allows companies to thrive. The Clean Industrial Deal marks a pivotal moment for Europe’s industrial future. But it must deliver on its promise of making Europe a leader in green and competitive industries—without risking our manufacturing base in the process. It is vital that the European Commission uses this opportunity to look across Europe’s industrial manufacturing landscape and recognize the role the home appliances sector can play as a strategic enabler of Europe’s climate and industrial ambition. Home appliances is a critical industry—not only as a major employer and driver of innovation but also as a key catalyst for supply chain resilience and a direct contributor to energy efficiency in every EU household. Energy-efficient appliances are one of the fastest and most cost-effective ways to cut emissions, lower energy bills, and support the clean energy transition. To accelerate progress toward climate neutrality, the EU should enhance support for the industry by mobilizing investment incentives and ensuring a level playing field in international trade.”

As one of the world’s largest manufacturers with scale and expertise, Beko acknowledges its vital position in advancing decarbonization efforts. Energy efficiency, often referred to as the “first fuel” in the clean energy transition, is therefore a top priority for Beko. Currently, energy-efficient appliances make up over 70% of units produced and drive the majority of the company’s revenue.

“While companies often choose between profit and responsibility, Beko is the living proof that a balanced approach makes good business sense. We have already demonstrated leadership in sustainable innovation—our products save energy, reduce waste, and align with the Green Deal. But we cannot succeed alone. We would like to see Europe shift from reactive policies to proactive investments in its industrial sector. Targeted incentives for renewable energy adoption, production infrastructure, and sustainable product development will play a critical role in securing the bloc’s competitive future,” concluded Bulgurlu.

ABOUT BEKO 

Beko is an international home appliance company with a strong global presence, operating through subsidiaries in more than 55 countries with a workforce of over 50,000 employees and production facilities spanning multiple regions—including Europe, Asia, Africa, and the Middle East. Beko has 22 brands owned or used with a limited license (Arçelik, Beko, Whirlpool*, Grundig, Hotpoint, Arctic, Ariston*, Leisure, Indesit, Blomberg, Defy, Dawlance, Hitachi*, Voltas Beko, Singer*, ElektraBregenz, Flavel, Bauknecht, Privileg, Altus, Ignis, Polar). Beko became the largest white goods company in Europe with its market share (based on volumes) and reached a consolidated turnover of 10.6 billion Euros in 2024. Beko’s 30 R&D and Design Centers & Offices across the globe are home to over 2,300 researchers and hold more than 3,500 international registered patent applications to date. The company has achieved the highest score in the S&P Global Corporate Sustainability Assessment (CSA) in the DHP Household Durables industry for the sixth consecutive year (based on the results dated 22 November 2024) and has been included in the Dow Jones Sustainability Indices for the eighth consecutive year.** Beko’s vision is ‘Respecting the World, Respected Worldwide.’

www.bekocorporate.com 

*Licensee limited to certain jurisdictions.
 **The data presented belongs to Arçelik A.Ş., a parent company of Beko. 

Antwerp 2025 Clean Industrial Deal family photo
Antwerp 2025 Clean Industrial Deal family photo

 

 

NTT Sparks Smart Building Revolution with New OCEAN Intelligence™ Platform in Hong Kong

Offering a Strategic Vision to Bring AI into Every Building, empowered with an Open Partner Ecosystem


HONG KONG SAR – Media OutReach Newswire – 27 February 2025 – As part of NTT Group, a world-leading telecommunications and ICT service provider, NTT Com Asia (NTT) today launched OCEAN Intelligence™ in Hong Kong, a ground-breaking AI-powered open platform set to transform smart building management. With the vision to “Bring AI into Every Building” with an open partner ecosystem approach, the new platform represents a game-changer for building management by fostering collaboration and open innovations.

The photo features Steven So, Senior Vice President, NTT Com Asia (left) and Stephen Tsang, Chief Revenue Officer, NTT Com Asia (right).
The photo features Steven So, Senior Vice President, NTT Com Asia (left) and Stephen Tsang, Chief Revenue Officer, NTT Com Asia (right).

At its core, OCEAN Intelligence™ makes AI accessible through three foundational pillars:

  • Openness – that breaks down proprietary barriers and data silos, and enable convergence of OT/IT/IoT;
  • Partner Ecosystem – an open partner ecosystem that enables innovation and collaboration among local and global technology providers to create new services;
  • Quality Data – leverage open hardware to allow cost effective control and collection of real-time high-density equipment data, together with digitization of operation data through automation of operation processes, this forms a superior data foundation for machine learning.

“OCEAN Intelligence™ unique strength lies in its ability to democratise AI, with data quality as its core foundation, making it accessible to every building.” said Steven So, Senior Vice President, NTT Com Asia. “Acting like human brain and central nervous system of smart buildings, the platform connects previously disparate systems and enables data intelligence to flow seamlessly throughout the entire infrastructure. Beyond AI, its modular design and strong open partner ecosystem enables quick deployment in existing environments and opens up possibilities to integrate with partners for new solutions.”

The platform builds upon the company’s commitment to open innovations driving smart building development. A thriving partner ecosystem brings in the latest technology from startups and industry partners to offer more choices to the market. For example, users can benefit Chiller Plant Energy Optimization solution from Carnot Innovations, a startup incubated from Hong Kong Science and Technology Parks, which uses AI to analyse operational data to maximise efficiency and reduce energy usage and costs. Through Carnot Innovations’ integration with OCEAN Intelligence, the chiller plant can be directly managed, breaking down data silos, and speeding up deployment under a single pane of glass.

“Openness and collaboration are essential in today’s complex building environments and fast-growing development of AI and IoT technologies, where the open partner ecosystem approach delivers far greater value than isolated technologies,” adds Steven. “With the global smart building market projected to reach USD 359 billion by 2035, growing at over 24% annually, we’re creating significant business opportunities for our partners across the ecosystem — from hardware manufacturers to specialized AI solution providers. This partner-centric approach creates mutual value: partners gain access to new markets and revenue streams, while customers benefit from best-in-class solutions tailored to their specific needs.”

“Today’s complex building challenges demand collaborative solutions. Carnot Innovations brings deep AI expertise and a proven track record, partnering with industry leaders like NTT. Our collaboration within the OCEAN Intelligence™ partner ecosystem allows us to address critical solution gaps with cutting-edge AI. Leveraging NTT’s resources, we provide enhanced support to local clients, ultimately delivering more choices, better integration, and a more streamlined smart building transformation journey,” said Ashish Jerry Justin, Co-founder and CEO, Carnot Innovations.

Phil McManus, Director, Business Innovations, NTT Com Asia (left), Jackie Yuen, Senior Director, System Design & Architecture, NTT Com Asia (middle), and Ashish Jerry Justin, Co-founder and CEO, Carnot Innovations (right) showcase the NTT OCEAN Intelligence™ and the Chiller Plant Energy Optimization, powered by Carnot Innovations.
Phil McManus, Director, Business Innovations, NTT Com Asia (left), Jackie Yuen, Senior Director, System Design & Architecture, NTT Com Asia (middle), and Ashish Jerry Justin, Co-founder and CEO, Carnot Innovations (right) showcase the NTT OCEAN Intelligence™ and the Chiller Plant Energy Optimization, powered by Carnot Innovations.

Leveraging NTT’s global R&D and local talents, the platform empowers businesses to achieve substantial cost efficiencies, optimize building operations, and enhance asset value. Already deployed in NTT facilities and customers in Hong Kong and other locations, OCEAN Intelligence™ is slated for further international rollout.

“With an investment of over HKD170 million into the research and development of the technology, it represents strategic expansion of our vision for AI and smart city,” said Stephen Tsang, Chief Revenue Officer, NTT Com Asia. “It aligns with the Hong Kong Government’s initiatives to establish the city as a leading Information and Technology hub in the region. By championing innovation in smart building management and supporting the development of critical facilities, we’re actively contributing to Hong Kong’s technological advancement and helping solidify its position as a pioneer in smart city development across Asia and globally.”

The launch is a key investment in the company’s series of strategic initiatives to accelerate Hong Kong’s digital transformation into a smart city. This launch follows the successful introduction of the NTT Innovation Alliance in April 2024, High-Performance Computing as-a-service with a Direct Liquid Cooling enabled AI-ready data centre in June 2024, and Private 5G service in September 2024, underscoring NTT’s commitment to delivering cutting-edge solutions for Hong Kong’s future.

OCEAN Intelligence™: Key Benefits

OCEAN Intelligence™ gathers and processes data from diverse building systems to optimise performance with unparalleled precision. User benefits include:

  • Predictive AI: The platform uses AI to automate tasks and provide real-time insights, leading to significant improvements in efficiency. It allows businesses to reduce maintenance downtime by up to 75%, speed up data provisioning for new buildings by 2X, and speed up decision making and incident root cause analysis by 5X.
  • Cost Optimisation: Users can achieve up to 30% savings on air-conditioning energy bills, reduce maintenance expenses by up to 50% through predictive maintenance, and lower data collection costs by 40% with open data collection hardware.
  • Customisable and Modular Agility: The platform is designed to be open and modular. This allows it to be deployed with existing platforms or solutions or integrated with current and future solutions from partners. This gives customers the freedom to build their platform, scale according to their business needs and add unique features and services to maximise the value of the building — all within a single platform.

For more information about OCEAN Intelligence™, please visit our website at www.oceanintels.ai.

Hashtag: #NTT

The issuer is solely responsible for the content of this announcement.

About OCEAN Intelligence™

Goes beyond simply collecting IoT and BIM data, it cultivates actionable insights in real-time, breaking down data silos providing a flexible modular design, and a suite of readily integrated solutions powered by an open partner ecosystem. From digital construction to digital operations, OCEAN Intelligence™ is the strategic partner for creating smarter, more sustainable, and truly intelligent buildings.

About NTT Com Asia

As part of NTT Group, a world-class leader in telecommunications and ICT services, NTT Com Asia Limited (“NTT”) is dedicated to delivering the best ICT infrastructure and disruptive technologies with the vision to enable a smarter world.

Riding on the leading enterprise mobile technology from docomo business in Japan, we are bringing cutting-edge and ready-to-market IoT, AI and other digital solutions to support enterprises in developing a mobile-first strategy in their digitalisation journey. For more information, please visit: .

About Carnot Innovations

Carnot Innovations is a pioneer of AI Energy Optimization Solution in Hong Kong. We make buildings smarter to perform better maintenance and energy saving. Our projects included grade A commercial buildings, premium shopping malls, infrastructures, and hospitals, etc. Everyday we are helping enterprises to reduce carbon to achieve their ESG target. We have deployed our AI in over 100 buildings in Hong Kong, Singapore, Thailand and Taiwan.

Kashgar’s First 220-kilovolt Power Grid Construction Project Resumes Operations

KASHGAR, China, Feb. 27, 2025 /PRNewswire/ — On February 25, the Kashgar region’s first 220 kV power grid construction project for 2025—the Shuleya Fuquan Photovoltaic Collection Station to Kashgar 220 kV Line Project—officially resumed operations. The total investment in this project is 215.95 million yuan, with a line length of 85.5 kilometers spanning across Kashgar City, Shule County, Jiashi County, and Yuepuhu County. Initiated in November 2024 and scheduled for full connection by the end of 2025, this project is one of the key initiatives in the power grid upgrade in Kashgar and represents the largest investment in new energy delivery projects by State Grid Kashgar Power Supply Company to date. Upon completion, it will meet the 750 MW photovoltaic demand of the Yafuquan area and Alafu Township in Shule County, promoting clean and low-carbon energy transformation and providing robust support for the region’s high-quality economic and social development during the “15th Five-Year Plan” period.

To ensure the smooth progress of the project, State Grid Kashgar Power Supply Company has developed a comprehensive resumption plan, clearly defining objectives, tasks, and responsibilities. Additionally, innovative measures have been introduced, including practical training sites for safety access skills and a three-dimensional assessment model combining theory, skill, and behavioral observation, thereby enhancing the passing rate of safety access assessments for construction personnel.

Moving forward, State Grid Kashgar Power Supply Company will further strengthen project management, optimize construction organization, strictly control safety and quality standards, and ensure timely and high-quality project completion. This will provide a strong power guarantee for the economic and social development of Kashgar.

Lao Brewery Company Strengthens Commitment to a Greener Future with Renewable Energy and Sustainability Initiatives


VIENTIANE, LAOS – Media OutReach Newswire – 27 February 2025 – Lao Brewery Company (LBC), the nation’s leading brewer, is taking a bold step forward in its sustainability journey, reinforcing its commitment to environmental responsibility through innovative green energy initiatives. In alignment with Carlsberg Group’s global “Together Towards ZERO and Beyond” programme, LBC is accelerating efforts to reduce its carbon footprint and support Laos’ sustainable development goals.

From L-R: Mr. Dung Le, Director of VN Green Energy Company, Mr. Henrik Juel-Andersen, Managing Director of Lao Brewery Company, Mr. Joao Abecasis, Executive Vice President, Asia at Carlsberg Group, Dr. Manothong Vongsay, Vice Minister of Ministry of Industry and Commerce, Mr. Jacob Aarup-Andersen, CEO of Carlsberg Group, Mr. Thanousack Hommachack, Lao Brewery Company Board of Director, Mr. Sayyadeth Vongsay, Mr. Sithixay Ketthavong, Director of Corporate Affairs and Sustainability of Lao Brewery Company
From L-R: Mr. Dung Le, Director of VN Green Energy Company, Mr. Henrik Juel-Andersen, Managing Director of Lao Brewery Company, Mr. Joao Abecasis, Executive Vice President, Asia at Carlsberg Group, Dr. Manothong Vongsay, Vice Minister of Ministry of Industry and Commerce, Mr. Jacob Aarup-Andersen, CEO of Carlsberg Group, Mr. Thanousack Hommachack, Lao Brewery Company Board of Director, Mr. Sayyadeth Vongsay, Mr. Sithixay Ketthavong, Director of Corporate Affairs and Sustainability of Lao Brewery Company

LBC is making a major transition by partnering with VN Green Energy Company to open the first biomass facility in Laos. This factory will supply LBC’s Vientiane brewery with green steam energy from February 2025 replacing fossil fuels with steam energy produced from biomass waste, powering more than 80% of the plant. This move is expected to significantly cut carbon emissions at the Vientiane Brewery, reaching LBC’s net zero targets 5 years ahead of plan and contributing to Carlsberg’s global target of achieving net-zero emissions across all breweries by 2030. The company is also exploring additional renewable energy opportunities for its Pepsi plant in Vientiane and its brewery in Pakse.

“Sustainability is at the heart of our business, and we are proud to take this major step towards reducing our carbon footprint in Laos,” said Henrik Juel Andersen, Managing Director of LBC. “By implementing biomass energy and continuing to explore further renewable energy solutions, we hope to lead by example—not only in Laos but across the region.”

This announcement comes alongside Carlsberg Group CEO Jacob Aarup-Andersen’s 3-day visit to Laos, reinforcing the company’s commitment to sustainability across its global operations. “Carlsberg’s ‘Together Towards ZERO and Beyond’ programme is about taking concrete action to reduce emissions and drive sustainability in all our markets. LBC’s transition to biomass energy and ongoing exploration of broader renewable energy sources is a great example of how our breweries can play a pivotal role in building a more sustainable future,” said Aarup-Andersen.

Beyond renewable energy, LBC has been at the forefront of creating progress in sustainability through various initiatives, including the Sustainable Rice Farming Project, which not only promotes organic farming practices and supports local farmers through innovative technology but also trains farmers in regenerative agriculture methods that enable a 100% sustainable and environmentally friendly rice farming ecosystem.

Additionally, LBC has made significant strides in reducing water usage, improving packaging sustainability, and minimising waste across its operations. The company’s

Zero Packaging Waste programme, which has been ongoing since 2018, has successfully maintained a 97% collection rate of empty 640ml Beerlao bottles, reusing each bottle up to 14 times, before sending them for recycling.

LBC’s contribution to driving sustainable practices in Laos goes beyond the company. As the country’s largest taxpayer, contributing over LAK 5.1 trillion (USD 239 million) in taxes in 2024, LBC plays a vital role in supporting national development. Within the company, it also runs initiatives extending beyond environmental causes, including investing in corporate social responsibility programmes, education, healthcare and disaster relief efforts across the country.

During his visit, Aarup-Andersen, along with Andersen, will meet with Lao government officials to discuss LBC’s role in supporting the country’s green transition and strengthening public-private partnerships for sustainable growth.

“We are not just brewing beer; we are brewing a better future for Laos and beyond,” added Andersen. “Our ambition is to set the standard for sustainable brewing in the region, proving that economic growth and environmental responsibility can go hand in hand.”

Stay updated on LBC’s latest initiatives on Facebook @LaoBreweryCompanyLTDHashtag: #LaoBrewery

The issuer is solely responsible for the content of this announcement.

Lao Brewery

The Lao Brewery Co. Ltd. (LBC) – established in 1973, is the largest brewery company in Laos. The flagship product of the company is Beerlao, a strong national beer brand with 95% market share that has received international awards for its quality. The company has grown significantly over the past 20 years and now has more than 2,500 employees and three production lines – two in the capital Vientiane and one in Pakse. Find out more at https://beerlao.la/

Kempinski Hotels Sign Landmark Agreement to Manage Nymphenburg Palace Royal Residence

GENEVA, Feb. 27, 2025 /PRNewswire/ — Heralding the beginning of a new era, Kempinski Hotels have signed a landmark agreement to manage the Nymphenburg Palace Royal Residence. In partnership with HRH Prince Luitpold von Bayern and the Royal Family of Bavaria, Kempinski will manage the private residence exclusively from 1 March, 2025.

The people featured in the image are as follows (from left to right): Holger Schroth, Area General Manager, Hotel Vier Jahreszeiten Kempinski München, Kempinski Hotel Berchtesgaden, Kempinski Hotel Das Tirol; Barbara Muckermann, Group Chief Executive Officer, Kempinski Hotels; HRH Prince Luitpold von Bayern; Anders Thomas, CEO of Porzellan Manufaktur Nymphenburg;
The people featured in the image are as follows (from left to right): Holger Schroth, Area General Manager, Hotel Vier Jahreszeiten Kempinski München, Kempinski Hotel Berchtesgaden, Kempinski Hotel Das Tirol; Barbara Muckermann, Group Chief Executive Officer, Kempinski Hotels; HRH Prince Luitpold von Bayern; Anders Thomas, CEO of Porzellan Manufaktur Nymphenburg;

“We are truly honoured to take over management of the Nymphenburg Palace Royal Residence, a property with such rich history and a strong reputation for exceptional service. This partnership represents an exciting opportunity for Kempinski to elevate the guest experience in one of Europe’s most prestigious addresses. Our commitment is to preserve the legacy of Nymphenburg while introducing new dimensions of luxury, personalised service, and innovative hospitality for discerning guests around the world,” states Barbara Muckermann, Group Chief Executive Officer for Kempinski Hotels.

Located at the intersection of city and country, the Nymphenburg Palace Royal Residence boasts the most exclusive accommodation in Munich. Spread over three floors with a total of 836 square meters, the Royal Residence features four bedrooms, seven bathrooms, three living rooms, dining room, kitchen, fitness room, meeting space, home cinema and a wine cellar. Outdoors, the Royal Residence features a private garden with a majolica terrace with capacity for up to 100 guests.

In addition to offering the ultimate suite experience, the Nymphenburg Palace Royal Residence also acts as a showcase for Nymphenburg Porcelain. The Royal Residence includes art objects, animal figures and tableware from the manufacturer’s workshops in addition to numerous interior details that were specially made for the guest house in the bathrooms. Significant pieces by international artists including Damien Hirst and Nick Knight are displayed prominently in the Royal Residence, allowing guests to experience fine craftsmanship with priceless artwork throughout their stay.

Founded in 1747 by Maximilian III, elector of Bavaria, the Nymphenburg Porcelain Manufactory has occupied one of the Cavalier Houses since 1761. With royal patronage and the skills of ceramicist Joseph Jakob Ringler and sculptor Franz Anton Bustelli, the complex production of hard paste porcelain was perfected and refined over the years, culminating in a world-renowned family business three centuries later. Today, Nymphenburg Porcelain is one of the oldest porcelain manufacturers in the world, with each item still being made by hand and a complete devotion to exquisite craftsmanship and unparalleled level of detail.

Kempinski’s management of the Nymphenburg Palace Royal Residence further cements the long-established history and partnership between Europe’s oldest luxury hotel group and the Royal Family of Bavaria. Hotel Vier Jahreszeiten Kempinski Munich was built by HRH Prince Luitpold von Bayern’s great-great grandfather, King Maximilian II, in 1858.

“We are thrilled to announce the expansion of our long-standing collaboration with Kempinski, particularly with Hotel Vier Jahreszeiten Kempinski in Munich. As the hotel that hosts guests of the royal family next to the Residence, it has long served as a benchmark for luxury hospitality. The Nymphenburg Room in the Schwarzreiter restaurant exemplifies the finest porcelain craftsmanship combined with exceptional cuisine. We are now embarking on a new chapter of collaboration. Kempinski will take over the management of the Nymphenburg Palace Royal Residence, a uniquely beautiful house located within the grounds of the porcelain manufactory at the northern roundabout of Nymphenburg Palace. This venue is tailored for guests who expect the highest cultural standards. This partnership will also usher in a new era of outstanding hospitality within the ultra-luxury segment for Kempinski,” says HRH Prince Luitpold von Bayern.

Reservations for the Royal Residence at Nymphenburg Palace are available to book from March 1, 2025. Accommodation includes full access to the exclusive 836 square meter villa, daily breakfast, round-trip airport transfers, 24/7 butler service and a chauffeured limousine throughout the stay. Additionally, the Royal Residence can be booked for exclusive weddings, private meetings and events. Overnight accommodation in the Royal Residence starts from EUR 25,000 / USD 26,250 per night.

For more information regarding accommodation and booking enquiries, please contact: reservation.nymphenburg@kempinski.com 

About Kempinski: Created in 1897, Kempinski Hotels is Europe’s oldest luxury hotel group. Kempinski’s rich heritage of impeccable personal service and superb hospitality is complemented by the exclusivity and individuality of its properties. Today, the Kempinski Group operates 78 hotels and residences in 32 countries and has more than 31 prestigious projects currently under development around the globe. Each five-star hotel reflects the strength and success of the Kempinski brand without losing sight of its heritage; each one imbues the quality guests have come to expect from Kempinski while embracing the cultural traditions of its location. The portfolio comprises historic landmark properties, award-winning urban lifestyle hotels, outstanding resorts and prestigious residences. Kempinski is a founding member of the Global Hotel Alliance (GHA), the world’s largest alliance of independent hotel brands. www.kempinski.com  www.ghadiscovery.com  www.kempinski.com/loyalty

About Porzellan Manufaktur Nymphenburg: Nymphenburg is the last manufactory of its kind where everything is made entirely by hand. The fine art of porcelain production has been cultivated in the manufactory of the Bavarian royal family since it was founded in 1747. Here to this day, “Manu Factum” still means entirely made by hand using techniques that are passed on and preserved from generation to generation. The master workshops at the Nördliches Schlossrondell in Munich produce style-defining services and artefacts that are ahead of their time, as well as bespoke interior solutions – designed to this day by the most renowned artists, architects, and designers.

Media contact for further information:
Kristi Blake, Corporate Director Public Relations, North America 
Kempinski Hotels
kristi.blake@kempinski.com 

 

WIT Software unveils AINNOV8 at MWC 2025: A Groundbreaking AI-Powered Innovation for Mobile Telecom Operators

BARCELONA, Spain, Feb. 27, 2025 /PRNewswire/ — WIT Software, a global leader in cutting-edge software solutions, is set to make a major impact at Mobile World Congress 2025 (MWC25) in Barcelona with the launch of its latest innovation – AINNOV8.

 

Unlock a new era of mobile communications
Unlock a new era of mobile communications

 

AINNOV8 is a revolutionary software platform targeted at Mobile Telecom Operators to create next-generation digital services. Powered by New Calling Technology, RCS Messaging, and Generative AI, enables operators to enhance customer experiences and drive digital transformation.

Alongside the AINNOV8 platform, WIT Software is launching a suite of digital services designed for different segments:

  • CALL NOVA – Tailored for contact centres, offering a new and engaging experience to increase customer satisfaction and engagement.
  • CALL SPARK – Designed to enhance the customer connections with businesses.
  • CALL MATE – The future of voicemail, where mobile users can create AI-powered visual virtual agents to attend their voice calls.
  • CALL GENIE – Designed for the consumer market, giving easy access to virtual experts as simple as making a voice call.
  • CALL GOV – A groundbreaking solution to elevate the digital access to government services.

“We are thrilled to launch AINNOV8 at MWC 2025. This platform represents a significant step forward in AI-powered telecom solutions, enabling operators to unlock new revenue streams and create valuable customer connections,” said Luis Silva, CEO at WIT Software. “With AINNOV8 and our new suite of digital services, we are redefining the possibilities of next-generation digital services.”

The official unveiling will take place at the WIT Software booth 7H71 at MWC25, where attendees will get an exclusive first look at the capabilities and benefits of AINNOV8. Live demonstrations and expert discussions will highlight how AINNOV8 will unlock a new era in mobile communications. 

For more information, visit www.wit-software.com or follow WIT Software on Instagram and LinkedIn.

About WIT SOFTWARE:

WIT Software is a global technology company specializing in innovative products and software solutions for Mobile Telecom Operators. The company has 24 years of expertise in mobile messaging, IP voice and video, RCS technology, mobile payments, IPTV, value-added-services and 5G applications. With offices in Portugal, the UK and Japan, the company has blue-chip industry client base. With a strong focus on AI-powered solutions and next-generation communication technologies, WIT Software continues to shape the future of digital innovation.

Photo: https://laotiantimes.com/wp-content/uploads/2025/02/wit_software.jpg
Logo: https://laotiantimes.com/wp-content/uploads/2025/02/wit_software_logo.jpg

 

 

Media contact:
Teresa Chaves 
press@wit-software.com 
+351 239801030

Akeso Announces First ADC Drug Clinical Trial, Marking a New Era for “IO 2.0 + ADC” Strategy

HONG KONG, Feb. 27, 2025 /PRNewswire/ — Akeso, Inc. (9926.HK) announced the first patient has been enrolled in the Phase I clinical trial of AK138 D1 for the treatment of advanced malignancies in Australia. AK138D1,  a self-developed and differentiated HER3-targeting ADC (antibody-drug conjugate),  is Akeso’s first ADC drug to enter clinical studies.

Akeso is dedicated to transforming the global oncology treatment landscape by establishing new standards of care for cancer patients worldwide. A key element of this mission is the company’s “IO 2.0 + ADC” strategy. Akeso’s self-developed, first-in-class bispecific antibodies, cadonilimab (PD-1/CTLA-4) and ivonescimab (PD-1/VEGF), have both received regulatory approval and are now available to patients in China. Akeso is the only global biopharmaceutical company with two approved bispecific checkpoint antibodies for cancer immunotherapy.

The continued development of differentiated ADC therapies, such as AK138D1, further extend Akeso’s ability to explore the full clinical potential of its innovative in-house pipeline and to create synergistic new combination treatment options includes that multiple checkpoints and tumor targets.

Dr. Xia Yu, Founder, Chairwoman, President and CEO of Akeso said,

“The initiation of the clinical study for AK138D1 in Australia marks a pivotal moment in Akeso’s strategic advancement into next-generation ADC therapies. Building on our global prominence in bispecific antibodies and a robust pipeline of high-potential drug candidates, the development of AK138D1 and subsequent ADCs/bispecific ADCs will significantly bolster our product offering. This is part of Akeso’s continued effort to redefine standard of care in cancer treatment.

Following our achievements in bispecific antibody development, ADC therapies have emerged as a strategic priority for Akeso. Based on our extensive experience in bispecific antibody development, we are excited by the potential of our proprietary ADCs and bispecific ADCs.  Our goal is to enhance drug efficacy while minimizing ADC toxicity, offering transformative treatment alternatives for patients worldwide.

Moreover, Akeso has established cutting-edge ADC research, pilot production, and manufacturing facilities.  These investments position us for high-quality clinical development and for global market expansion of our ADC portfolio.”

HER3 has emerged as an active target in cancer drug development and is the focus of ongoing research. Although experimental drugs targeting HER3 have not shown satisfactory antitumor effects over the past 30 years, studies indicate that HER3 is expressed or overexpressed in various malignancies, including breast cancer, ovarian cancer, lung cancer, colorectal cancer, melanoma, head and neck cancers, cervical cancer, and prostate cancer. Additionally, upregulation of HER3 and its synergistic interactions with other receptors contribute to tumor initiation, metastasis, and resistance to certain anticancer treatments, such as resistance to EGFR-targeted therapies, endocrine therapy in breast cancer, HER2-targeted therapies, and chemotherapy.

About AK138D1

Injectable AK138D1 is a HER3-targeted antibody-drug conjugate (ADC), with a fully humanized anti-HER3 IgG1 antibody, patritumab. It is conjugated to the topoisomerase I inhibitor DXd through a cleavable linker, MC-AAA (maleimide-alanine-alanine-alanine). After binding to HER3 on tumor cells, the ADC is internalized into the tumor cells, where the linker is cleaved, releasing the membrane-permeable DXd. This leads to DNA damage and subsequent cell apoptosis. Currently, Akeso has initiated patient enrollment for a Phase I dose-escalation and expansion clinical study in Australia. This study will investigate the safety, tolerability, pharmacokinetics, and preliminary efficacy of AK138D1 for the treatment of advanced malignancies.

About Akeso
Akeso (HKEX: 9926.HK) is a leading biopharmaceutical company committed to the research, development, manufacturing and commercialization of the world’s first or best-in-class innovative biological medicines. Founded in 2012, the company has created a unique integrated R&D innovation system with the comprehensive end-to-end drug development platform (ACE Platform) and bi-specific antibody drug development technology (Tetrabody) as the core, a GMP-compliant manufacturing system and a commercialization system with an advanced operation mode, and has gradually developed into a globally competitive biopharmaceutical company focused on innovative solutions. With fully integrated multi-functional platform, Akeso is internally working on a robust pipeline of over 50 innovative assets in the fields of cancer, autoimmune disease, inflammation, metabolic disease and other major diseases. Among them, 23 candidates have entered clinical trials (including 11 bispecific/multispecific antibodies and bispecific antibody-drug conjugates). Additionally, 5 new drugs are commercially available, and 5 new drugs across 7 indications are currently under regulatory review for approval. Through efficient and breakthrough R&D innovation, Akeso always integrates superior global resources, develops the first-in-class and best-in-class new drugs, provides affordable therapeutic antibodies for patients worldwide, and continuously creates more commercial and social values to become a global leading biopharmaceutical enterprise.

For more information, please visit https://www.akesobio.com/en/about-us/corporate-profile/ and follow us on Linkedin, and X (formerly Twitter).