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LG Energy Solution Ranked as the World’s 12th Most Sustainable Company, Number One Among Battery Manufacturers

  • Corporate Knights acknowledges LG Energy Solution in the World’s 100 Most Sustainable Corporations 2025 list, placing it in the top position among its industry peer group
  • Recognition in sustainable revenue and sustainable investment were the main drivers of the strong performance, as well as energy productivity and GHG (Greenhouse gas) productivity
  • Embracing responsibility as an industry leader, LG Energy Solution strives to bolster its own ESG management and pave the way to a sustainable battery ecosystem across the entire value chain, including indirect operations and suppliers

SEOUL, South Korea, Jan. 22, 2025 /PRNewswire/ — LG Energy Solution has ranked 12th on the list of 100 Most Sustainable Corporations in the World 2025 by Corporate Knights, marking its debut on the prestigious list. The company also secured the top position among its battery manufacturing peers.

Corporate Knights’ Global 100 is a global sustainability index that provides an annual ranking of the world’s most sustainable corporations with annual revenues of over 1 billion USD. This year’s evaluation examined 8,359 corporations, scoring companies based on 25 key performance indicators across areas such as sustainable revenue, sustainable investment, resource management, employee management, financial management, and supplier performance. A ranking on this list is widely considered a mark of distinction for ESG management excellence.

LG Energy Solution’s strong performance in the sustainable revenue and sustainable investment KPIs earned its recognition in the Global 100 assessment, meeting key criteria for ESG-conscious investors. The company received the highest possible scores in both areas, reflecting its core business of providing sustainable and reliable energy solutions and its significant investments in future growth engines.

Corporate Knights also highly rated LG Energy Solution’s energy productivity and GHG productivity, among other criteria.

LG Energy Solution is dedicated to strengthening its ESG standards and practices, demonstrating the company’s industry leadership. As such, the company has recently focused on preparations for stricter global regulations and ESG disclosure standards. Even before new international battery regulations, such as mandatory carbon footprint disclosure and battery passports, LG Energy Solution already adopted Life Cycle Assessment (LCA) in 2019 to evaluate the product impacts and transparently communicate with key stakeholders. LG Energy Solution aims to ensure the accuracy and credibility of LCA through third-party verification and Environmental Product Declaration (EPD) certifications, and the range of products covered by LCA and EPD continues to expand. In 2024, LCA covered battery cells with 83% of total capacity, and EPD certified battery cells with 60% of total capacity.

Furthermore, the company made substantial progress in social footprint management, reducing the potential for adverse human rights impacts by adopting a due diligence process to identify, prevent, mitigate, and address such issues. Enhancing its ESG governance, LG Energy Solution is committed to effectively managing emerging challenges and fostering an ESG-driven work culture.

In addition to reinforcing its own ESG management, the company is working to facilitate a sustainable battery ecosystem throughout its entire value chain by proactively supporting, engaging, and collaborating with its supply chain partners. Building on years of assessing and managing ESG risks in its Tier 1 suppliers, the company expanded these efforts in 2024, developing an IT management system that connects Tier-N suppliers for improved traceability and transparency. It plans to progressively broaden the scope of supply chain risk assessment, focusing on core raw material supply chains for critical regulatory compliance. To maintain transparency, LG Energy Solution published the ‘Supply Chain Sustainability Report’ this month, which provides information on its supply chain management system, strategies, and key achievements.

“We are honored that Corporate Knights has recognized our leadership in sustainability and ESG practices, naming us one of the world’s most sustainable companies,” said David Kim, CEO of LG Energy Solution. “We are fully committed to realizing our vision of leading the future green energy era with innovation in electrification for a sustainable battery ecosystem.”

“As one of the world’s largest battery manufacturers, LG Energy Solution is at the centre of what enables the transition to a net-zero economy. The company’s inclusion in the 2025 Global 100 is a testament to its global leadership,” said Toby Heaps, CEO of Corporate Knights.

About LG Energy Solution

LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit https://news.lgensol.com.

Science and Technology Daily: AI for a Better Life

BEIJING, Jan. 22, 2025 /PRNewswire/ — As AI continues to evolve at an unprecedented pace, with breakthroughs in generative models, ethical guidelines, and applications across various sectors, the question is often asked — how will these advancements positively impact people’s daily life?

 

Science and Technology Daily: AI for a Better Life

 


Science and Technology Daily recently organized a panel discussion “Tech with Heart, AI for Good,” experts took a deep dive into the topic “AI for a Better Life.” They explored the transformative potential of AI, discussing its role in healthcare, traditional Chinese medicine (TCM), legal services, and beyond.

Hosted by Wu Baojun from the University of Chinese Academy of Sciences, two experts were invited: Chen Yingying, an associate researcher at the Institute of Automation of the Chinese Academy of Sciences, and Professor Gao Shaolin, an expert from Peking University Law and AI Research Center.

AI is revolutionizing healthcare

The discussion began with examples of how AI is revolutionizing healthcare, particularly in bridging the gap between urban and rural medical resources.

“By utilizing smart technology, the experience and knowledge of seasoned doctors can now be shared more widely, reaching remote villages and mountainous regions as well as community hospitals,” Chen said.

This democratization of quality medical care not only alleviates the shortage of primary-level medical staff but also improves diagnosis accuracy and efficiency through advanced image recognition technologies, such as those used in CT scans.

The application of AI in healthcare extends to TCM, which has been traditionally practiced based on centuries-old wisdom. Integrating AI into TCM could potentially make this ancient practice more accessible and accurate, thereby benefiting people globally.

TCM, described as an information science, relies on collecting various types of data through observation, listening, inquiry, and pulse-taking. Traditionally, it takes decades for TCM practitioners to accumulate enough experience to make accurate judgments.

“However, with AI, this process could be accelerated, making the wisdom of experienced TCM doctors accessible to everyone,” Professor Gao said.

He added that the integration of AI into TCM promises to improve preventive healthcare, allowing for early detection and intervention based on comprehensive health information analysis.

For instance, AI can analyze collected data like facial complexion, tongue coating, and pulse patterns to predict potential health issues before they manifest. This approach aligns with the TCM principle of “treating disease before it occurs,” which emphasizes prevention over cure. In this way, AI can help maintain public health by identifying risks and suggesting personalized preventative measures.

Legal services transformed by AI

AI is also transforming legal services. In the past, comprehending the vast body of laws, regulations, and statutes was a monumental task for legal professionals. Now, AI tools are being developed to organize legal knowledge, analyze disputes, and provide guidance on legal procedures.

Gao said these advancements not only promote legal education but also simplify court proceedings by simulating courtroom scenarios. As a result, trials can be more efficient, and many cases may reach agreements without debate, reducing the need for formal legal processes.

Furthermore, AI applications in contract review systems help prevent legal disputes by identifying potential points of contention before contracts are signed. This proactive approach ensures that contracts meet the true requirements of both parties, thereby minimizing conflicts during execution.

Additionally, AI can assist in finding similar case studies, providing individuals with a better understanding of legal procedures and enabling them to handle disputes more effectively. The use of AI in legal firms also opens up new career paths, combining computer science and law to create innovative solutions for complex legal challenges.

A future shaped by interdisciplinary collaboration

Looking ahead, both experts agreed that AI’s influence will permeate all industries and fields, acting as a super-large framework that integrates diverse disciplines.

From mathematics and physics to energy and humanities, AI has the potential to empower different academic and industrial developments. The future of AI lies in interdisciplinary collaboration, where professionals from computer science and AI join forces with domain experts in various sectors. Such collaborations will drive innovation, leading to new professions and opportunities.

For young people planning their educational paths, the advice is clear: embrace interdisciplinary learning, understand technological trends, and focus on developing skills in creativity and imagination—qualities that remain irreplaceable by AI.

Professor Gao emphasized that while some jobs might evolve or change due to AI, new opportunities would arise, particularly in areas requiring human interaction, creativity, and emotional intelligence.

AI products benefit all

The international cooperation in AI development was also discussed. Chen said that many Chinese companies are striving to “go global,” bringing excellent products developed within China’s complete industrial chain to the world, like the social-networking and video-sharing platform TikTok.

Professor Gao noted that with more countries joining the Belt and Road Initiative, cultural exchanges and AI collaborations are deepening. Chinese intelligent products going global bring in smart applications that promote local AI industry development, contributing to China’s vision of building a community with a shared future for humankind.

In essence, China’s fundamental attitude towards developing AI highlights mutual benefit and common development, thus making countries more willing to cooperate with it. China’s international collaboration in AI research aims to make joint efforts to improve people’s livelihood worldwide.

We can expect that as AI continues to evolve, it offers a tool for humanity to explore wider horizons, assisting in the discovery of fascinating aspects of the universe and ultimately contributing to better lives for current and future generations.

The discussion concluded with the hope that AI would become a collaborator rather than a competitor, aiding humans in achieving greater fulfillment and development, envisioning a world where AI and humans work together to overcome challenges and build a better tomorrow.

Lepu Biopharma has granted ArriVent Exclusive License for MRG007, a Potential Best-in-Class ADC for the treatment of Gastrointestinal Cancers

HONG KONG, Jan. 22, 2025 /PRNewswire/ — Today, Lepu Biopharma Co., Ltd (Stock Code: 02157.HK) announced that it has entered into an exclusive licensing agreement with ArriVent BioPharma, Inc. for MRG007, a Potential Best-in-Class antibody- drug conjugate (“ADC“) for the treatment of Gastrointestinal (“GI“) Cancers.

Under the terms of the agreement, Lepu Biopharma has granted ArriVent exclusive rights to develop, manufacture and commercialize MRG007 outside of Greater China which includes mainland China, Hong Kong, Macau and Taiwan. Lepu Biopharma will receive a one-time upfront and near-term milestone payments totaling $47 million in cash and is eligible to receive up to $1.16 billion in development, regulatory and sales milestones and tiered royalties on net sales outside of Greater China.

MRG007 has shown robust antitumor activity in preclinical models of GI cancers and a favorable therapeutic index based on IND enabling studies. The first IND submission is planned for the first half of 2025 with an initial clinical development focus in colorectal, pancreatic and other GI cancers.

Sui Ziye Ph.D., Executive Director and Chief Executive Officer of Lepu Biopharma said, “We are very pleased to be working with ArriVent. Lepu Biopharma has been dedicated to promoting the technological advancement of innovative ADCs in China. We believe MRG007 is one of our potential best-in-class ADC molecules in pre-clinical stage. The agreement is a recognition of our self-dependent R&D capabilities. We look forward to collaborating with ArriVent to advance the development of MRG007 globally and help bring this potential promising therapy to more patients around the world.”

Bing Yao, Chairman and Chief Executive Officer of ArriVent said ,” We believe MRG007 is a potential best-in-class ADC for the treatment of GI malignancies based on preclinical and IND enabling studies. Expanding our pipeline with MRG007 furthers our mission to develop novel medicines for cancers with high unmet needs worldwide and accelerates our ADC portfolio by adding a program which plans to enter the clinic in the near-term. We look forward to collaborating with Lepu Biopharma in advancing this program globally.”

About Lepu Biopharma Co., Ltd.

Lepu Biopharma Co., Ltd. (Stock Code: 02157.HK) is an innovation-driven company focusing on oncology therapeutics, in particular, targeted therapy and oncology immunotherapy, with a strong China foundation and global vision. The company is dedicated to developing innovative ADCs through its advanced ADC technology platform. Lepu Biopharma highly values the continuing build-out of its own commercialization capabilities and is determined to pursue the goal towards strong transformation from core technology to drugs and industrialization. At present, the product pipeline of Lepu Biopharma covers three major areas, namely immunotherapies, ADC targeted therapies and oncolytic virus drugs, including one clinical/commercialization- stage drug candidate, seven clinical-stage drug candidates (six of which are ADC drug candidates) and three clinical-stage combination therapies of the key candidates in its pipeline. The company houses the leading ADC drug candidate pipeline in China.

About ArriVent

ArriVent is a clinical-stage biopharmaceutical company dedicated to the identification, development, and commercialization of differentiated medicines to address the unmet medical needs of patients with cancers. ArriVent seeks to utilize its team’s deep drug development experience to maximize the potential of its lead development candidate, firmonertinib, and advance a pipeline of novel therapeutics, such as next-generation antibody drug conjugates, through approval and commercialization.

Laos Wins 29 ASEAN Tourism Standards Awards

Lao Entrepreneurs receives the Tourism Standards Awards (Photo: Kob Daraphone Kiasrithanakorn)

On 20 January, Laos received 29 ASEAN Tourism Standards Awards during the ASEAN Tourism Forum held in Johor, Malaysia. These accolades celebrate the country’s efforts in enhancing tourism quality, sustainability, and cultural preservation.  

Cold Chain Refrigeration Expands to Include CO2-Based Refrigeration Systems


SINGAPORE – Media OutReach Newswire – 22 January 2025 – Cold Chain Refrigeration Pte Ltd, a prominent company in the cold room refrigeration industry, is excited to announce its expansion into advanced, energy-efficient cold room solutions using CO2-based refrigeration systems. This development reflects the company’s commitment to sustainability, innovation, and energy efficiency.

As part of this initiative, Cold Chain Refrigeration is incorporating CO2 (R-744) technology, known for its low Global Warming Potential (GWP) of 1, making it significantly more environmentally friendly than traditional refrigerants like HFCs and HCFCs. CO2 refrigeration systems offer high energy efficiency, operating at higher pressures with superior heat transfer capabilities. These systems also recover waste heat, repurposing it for heating water or spaces, further reducing energy consumption.

One of the key advantages of CO2 refrigeration systems is their safety and non-toxicity. Unlike some traditional refrigerants, CO2 poses no health risks, making it a reliable choice for industries like food and beverage, supermarkets and food processing industries. Additionally, CO2 is non-flammable under normal conditions, eliminating fire hazards associated with other refrigerants and ensuring the safety of both workers and consumers.

These systems are also known for their operational versatility. The operational flexibility of CO2 systems is well-known for enabling customised cooling solutions to meet the unique needs of the industries. CO2 refrigeration systems are increasingly being adopted in various industries, including ice skating rinks, where the technology is used in Transcritical direct cooling ice-making systems. These systems allow for the comprehensive utilisation of both cold and heat, significantly improving energy efficiency. The cooling heat of these systems is gaseous sensible heat, which can be repurposed for multiple uses, such as heating domestic hot water, ground floor heating, and dehumidification regeneration. These systems offer a high thermal energy utilisation rate and a comprehensive COP (Coefficient of Performance) ranging from 6.5 to 7.0, showcasing their superior energy-saving potential.

For custom cold room applications, CO2 refrigeration systems are able to achieve precise temperature control and lower energy bills. Their eco-friendly design aligns with corporate sustainability goals, helping businesses reduce their environmental impact while benefiting from long-term cost savings.

Cold Chain Refrigeration’s expansion into CO2-based systems demonstrates its commitment to delivering sustainable and energy-efficient solutions. With ongoing projects, including a large commercial cold room installation for a major food distribution company, the company is set to redefine the standards in cold storage technology.

For more information, please visit https://www.coldchainref.com.sg/.
Hashtag: #ColdChainRefrigeration

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

Mr Kool Introduces Dedicated Car Aircon Solution For EVs & Hybrids


SINGAPORE – Media OutReach Newswire – 22 January 2025 – Mr Kool, a premier destination for car air conditioner service, is proud to introduce the K11HV+ AC Flushing Station, a cutting-edge solution designed to optimise air conditioning performance in electric and hybrid vehicles. The system exclusively uses polyolester (POE) oil, known for its superior insulating properties, to ensure the efficiency, safety, and longevity of Heating, Ventilation, and Air Conditioning (HVAC) systems in electric vehicles (EVs) and hybrids. This innovation addresses key challenges in hybrid vehicle climate control, including preventing car aircon compressor failure caused by oil contamination.

The K11HV+ AC Flushing Station offers a specialised process that eliminates traces of traditional polyalkylene glycol (PAG) oil from the air conditioning system. PAG oil, which is hygroscopic, can reduce the dielectric properties of POE oil even at contamination levels as low as 1%, increasing the risk of electrical leakage and aircon compressor failure. By thoroughly flushing the system, the K11HV+ ensures compatibility with POE oil, maintaining optimal dielectric properties and safeguarding against current short circuits through the compressor windings. This approach not only enhances performance but also improves energy efficiency, a critical factor for EV and hybrid owners.

As a car aircon specialist, Mr Kool understands the importance of efficient and reliable climate control systems. The development of this solution stemmed from the growing demand for safer and more efficient systems in environmentally conscious vehicles. A significant challenge was ensuring compatibility across various EV and hybrid models while maintaining the integrity of the POE oil in the system. After extensive testing, Mr Kool successfully delivered a reliable flushing process that prevents contamination and ensures long-term system safety and efficiency.

In addition to offering advanced solutions like the K11HV+ AC Flushing Station, Mr Kool provides services such as car aircon filter replacement, ensuring clean air circulation and optimal performance for your vehicle’s air conditioning system. This comprehensive approach reinforces the company’s dedication to excellence in car air conditioner service.

With the K11HV+ AC Flushing Station, this launch reflects the company’s commitment to addressing the specific needs of electric and hybrid vehicle owners, offering advanced systems that prioritise safety, sustainability, and energy efficiency. Mr Kool has a long-standing reputation for delivering high-quality automotive HVAC solutions, serving a diverse portfolio of clients and remaining at the forefront of industry innovation.

For more information on Mr Kool and its comprehensive range of services, please visit https://mrkool.sg/.
Hashtag: #MrKool #CarAirconServices

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

LeLao Puts Laos on the Global Fashion Map at BRICS+ Summit

LeLao fabric. (Photo: LeLao)

In early October 2024, the world’s fashion leaders gathered in Moscow for the BRICS+ Fashion Summit, where cultures from across Asia, Africa, and Latin America came together to showcase how traditional heritage can be woven into contemporary fashion. Among the standout participants from Southeast Asia was LeLao, a fashion brand from Laos that is redefining how the fashion industry approaches sustainability, cultural preservation, and ethical craftsmanship.

The BRICS+ Fashion Summit, which celebrated global diversity through the exhibition “Heritage,” was a platform for showcasing the unique styles and traditions of nations within the BRICS community and emerging countries. This year, LeLao made a remarkable appearance, offering a glimpse into the rich cultural legacy of Laos while introducing its modern and sustainable fashion innovations to the international stage.

Laos’ Fashion Heritage: A Deep Connection to Culture

For tourists, Laos’ traditional clothing may seem like beautiful, colorful garments, but for the Lao people, these clothes carry significant cultural meaning. Clothing in Laos is not just a matter of style—it is a reflection of the country’s history, culture, and beliefs. Each item of clothing, from the intricate designs to the materials used, tells a story of generations past and the legacy of their traditions.

Laos is home to over 49 ethnicities, each with their own distinct clothing styles. Among these, the traditional dress is most prominently represented by the sinh (a tube-like skirt worn by women) and salong (puffy trousers worn by men). These garments are often crafted from silk and are adorned with intricate patterns that reflect the region’s artistic traditions. The sinh, in particular, is a garment that connects the wearer to Lao culture, with each design carefully handwoven by skilled artisans using techniques passed down through generations. During festivals or religious events, such as Lao New Year, these traditional garments are worn by locals, showcasing the country’s heritage.

The significance of Lao clothing goes beyond aesthetics—it is a symbol of respect for one’s ancestors and a celebration of the nation’s cultural identity. Many Lao people wear traditional clothing daily, whether they are heading to the market or visiting family. This deep connection to clothing as a cultural expression forms the foundation for brands like LeLao, which seeks to preserve these traditions while adapting them for the modern world.

LeLao: Merging Heritage with Sustainability

LeLao, the Lao fashion brand that took stage at the BRICS+ Fashion Summit, has built its identity around blending Lao heritage with eco-conscious innovation. The brand’s mission is clear: to bring Lao craftsmanship to the global fashion scene while promoting sustainable, ethical practices. By using eco-friendly materials and partnering with local artisans, LeLao aims to preserve Laos’ rich textile traditions and provide a platform for local communities to thrive.

LeLao’s collections are not merely replicas of traditional Lao attire—they are reimagined with contemporary designs that stay true to their cultural roots while embracing modern sensibilities. 

For example, LeLao’s silk garments feature the same intricate handwoven patterns that have defined Lao textiles for centuries, but these patterns are presented in updated, wearable forms suitable for today’s fashion-forward consumer. LeLao’s goal is to ensure that these traditional weaving techniques continue to thrive and evolve, integrating them into the global conversation about sustainable fashion.

The brand also focuses on using low-impact materials and environmentally friendly processes, aligning with the growing demand for ethical fashion that minimizes harm to the planet. 

Lao Fashion on the Global Stage

The participation of LeLao in the BRICS+ Fashion Summit highlights the growing recognition of Lao fashion on the international stage. The exhibition “Heritage” brought together over 30 designers from BRICS nations and other emerging countries, all of whom are using national heritage as the foundation for their work. LeLao, as a representative of Laos, played a key role in showcasing the potential of Lao fashion and its ability to merge traditional artistry with contemporary sustainability.

By presenting LeLao at the summit, organizers demonstrated the power of cultural heritage in shaping the future of fashion. LeLao’s presence also provided an opportunity for international audiences to learn about the rich traditions of Laos, including the art of hand-weaving and the cultural significance behind traditional garments like the sinh and salong. These garments, once primarily worn by local communities, now have a place in global fashion, as evidenced by their inclusion in LeLao’s collections.

LeLao’s participation in the summit is also an example of how small, emerging fashion brands can play a pivotal role in driving global conversations about sustainability, cultural preservation, and ethical fashion. By focusing on the unique traditions of Laos and ensuring that these techniques are passed down to future generations, LeLao is setting a new standard for how fashion can empower communities and protect the planet.

A Platform for Emerging Designers and Cultural Preservation

Beyond the BRICS+ Fashion Summit, LeLao’s involvement in the fashion world is helping to raise awareness about Laos’ design scene. The Lao fashion industry has historically been overlooked, but with projects like Fair Fashion Lao, there is growing recognition of the importance of preserving the nation’s cultural identity. Fair Fashion Lao, an initiative that has supported local designers and artisans, encourages young Lao designers to innovate while maintaining a strong connection to their cultural roots.

The future of Lao fashion looks bright, with a growing movement toward integrating sustainable practices and empowering local communities. LeLao’s success at the BRICS+ Fashion Summit marks a significant step in the global recognition of Lao fashion and its potential to shape the future of responsible, culturally rich design.

As the fashion industry increasingly shifts toward sustainability, LeLao proves that heritage and eco-fashion can coexist beautifully. Through the company’s innovative designs, Laos is making its mark on the global fashion stage, offering the world a unique blend of culture, craftsmanship, and sustainability that is both timeless and forward-thinking.

Form Technologies Acquired by Ares Management

~$304 Million of New Equity Capital to Support Deleveraging and Accelerate Company’s Strategic Growth Initiatives

CHARLOTTE, N.C., Jan. 22, 2025 /PRNewswire/ — Form Technologies, Inc. (“Form Technologies” or the “Company”), a global leader in the production of precision-engineered components, today announced that Ares Management funds (“Ares”) have acquired a majority of the Company’s common equity. In connection with the transaction, Form Technologies has substantially deleveraged its balance sheet and received approximately $304 million in new equity capital, comprising $154 million of common equity from investors including Ares, the D. E. Shaw group and Onex Credit, as well as $150 million of preferred equity from the D. E. Shaw group and Ripple Industries. The new capital is expected to support additional investment in Form Technologies’ leading operational capabilities and accelerate the Company’s commercial strategy.

With a robust global footprint of 32 facilities across 22 countries, Form Technologies has built strong commercial momentum through its ability to offer diversified casting services at scale, with key competencies in die casting, investment casting and metal injection molding. In recent years, the Company has invested significantly in its proprietary processes and engineering capabilities to support product design and manufacturing with a higher level of precision for its customers. Form Technologies has also implemented important enhancements to its commercial organization in that time and has accelerated the success of new customer programs, increasing the Company’s customer count to nearly 2,000 organizations across key end markets, including automotive, aerospace, healthcare and enterprise technology.

“Over the past two years, we have undertaken a platform-wide strategic repositioning that has solidified Form Technologies as a global leader in precision-engineered parts,” said David Angell, Chief Executive Officer of Form Technologies. “I am very proud of the work our team has done to deliver on our operational objectives while continuing to meet our customers’ needs. We are excited to move forward with additional strategic support from Ares as we seek to build on our commercial momentum, expand our presence in key regions and drive long-term growth.”

“Since our initial investment in 2021, we have observed the acceleration of Form Technologies’ commercial success through its differentiated solutions-based offering and engineering excellence,” said Aaron Rosen, Partner and Co-Head of Opportunistic Credit at Ares Management. “We believe that under David’s leadership, Form Technologies is well-positioned to address the growing needs of its diversified customer base across key regions and sectors. We look forward to the exciting opportunities ahead as we support the team’s goals for driving revenue growth and value creation.”

Jefferies LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel to the Company. Evercore served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Ares.

About Form Technologies

Form Technologies is a leading global producer of precision-engineered components with complex geometries and tight tolerances. Utilizing proprietary processes and engineering expertise, the company manufactures over five billion high-precision components annually, serving diverse end markets worldwide. With 32 manufacturing facilities across 22 countries, and a global team of over 7,500 employees, Form Technologies provides customized solutions to meet its customers’ most demanding challenges.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2024, Ares Management Corporation’s global platform had approximately $464 billion of assets under management with more than 3,100 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

Forward-Looking Statements

The Company has included statements in this press release that constitute “forward-looking statements.” As a general matter, forward looking statements are those focused on future or anticipated events or trends, expectations and beliefs including, among other things, the Company’s expectations with respect to its business, strategic plans, investments, including investments in its operational capabilities, and its financial condition. Such statements are intended to be identified by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will,” “plan” and similar expressions in connection with any discussion of future operating or financial performance. Not all forward-looking statements in this press release may contain one or more of these identifying terms. Several factors could cause actual results to differ materially from those contained in any forward-looking statement, such as factors related to our ability to execute our strategic plans, to realize benefits from our investments in our operational capabilities and to service or refinance our indebtedness. Any forward-looking statements are and will be based upon the Company’s then-current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements, and the Company undertakes no obligation to update them. Readers are cautioned not to rely on such forward-looking statements.

Contacts

Form Technologies

marketingformtechnologies@formtechnologies.com

Ares Management

Jacob Silber, +1-212-301-0376
Brennan O’Toole, +1-212-301-0391
media@aresmgmt.com