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U Power Limited (NASDAQ:UCAR) Partners with Sumitomo Mitsui to Deliver Southeast Asia’s First Battery-Swapping Taxi Fleet in Phuket

PHUKET, Thailand, May 5, 2025 /PRNewswire/ — U Power Limited (Nasdaq: UCAR), a global leader in a global leader in green smart energy grid innovation, announced that its Thai subsidiary, USWAP Co., Ltd., has successfully delivered 21 battery-swapping-enabled MG EP vehicles to Auto Drive EV Public Company Limited, a leading mobility service provider in Thailand, through a strategic partnership with Sumitomo Mitsui Auto Leasing & Service (Thailand) Co., Ltd. The vehicles will be deployed to enhance sustainable taxi operations across the island of Phuket, a world-renowned tourist destination. This landmark transaction marks the deployment of Southeast Asia’s first fleet of battery-swapping taxis, setting a new benchmark for sustainable transportation in the region.

Pioneering Battery-Swapping Green Mobility in Southeast Asia

The vehicles are equipped with U Power’s proprietary UOTTA fully automated battery-swapping technology, showcased at the 2025 Bangkok International Motor Show. This system enables a full battery replacement in just 3 minutes, ensuring minimal downtime for taxis, maximizing operational efficiency, and uninterrupted service for passengers. The deployment aligns with Thailand’s EV 3.5 Policy, which aims to subsidize EV adoption and establish a nationwide charging/swapping network by 2027.

A Model for Sustainable Tourism

Phuket, a hub for international tourism, faces growing demand for efficient and environmentally responsible transportation. The deployment of battery-swapping fleet will not only improve air quality but also position the island as a leader in adopting smart EV solutions. The battery-swapping infrastructure, supported by U Power’s network, ensures operational efficiency and cost-effectiveness for Auto Drive’s taxi operators.

Leadership Insights

Johnny Lee, CEO of U Power Limited: “This delivery is not just a milestone for USWAP but a leap forward for Southeast Asia’s EV transition. By partnering with Sumitomo Mitsui Auto Leasing and Auto Drive, we are proving that battery-swapping technology can revolutionize urban mobility while aligning with Thailand’s carbon neutrality goals.” 

Representative of Sumitomo Mitsui Auto Leasing & Service (Thailand): Our financing model bridges the gap between cutting-edge technology and market accessibility. This project exemplifies how financial innovation can drive sustainable development in the EV sector.”

Dr. Akaranun Ariyasripong, Chairman of Auto Drive EV Public Company Limited, revealed, “The integration of U Power’s vehicles into Auto Drive’s fleet reinforces our commitment to delivering up to 2,000 electric taxis within 2025 and reducing carbon emissions in key tourist cities. The partnership includes comprehensive support for battery-swapping infrastructure, operational management, and financial services.”

Market Impact and Future Plans

This initiative establishes Thailand as a leading hub for EV innovation in ASEAN. USWAP is expanding its battery-swapping network across key urban centers and major transportation routes, with a focus on commercial applications including taxis, trucks, and logistics fleets. As Thailand’s EV market continues its rapid growth, U Power’s technology provides solutions to critical energy replenishment and grid stability challenges.

About U Power Limited

U Power Limited (Nasdaq: UCAR) is a vehicle sourcing services provider with a vision to become an EV market player primarily focused on its proprietary battery-swapping technology, UOTTA technology. UOTTA is an intelligent modular battery-swapping solution designed to provide comprehensive battery power solutions for EVs. Since its inception in 2013, U Power has established a vehicle sourcing network in China’s lower-tier cities, developed multi-types of battery-swapping stations for compatible EVs, and operates a manufacturing facility in Zibo City, Shandong Province, China.

For more information, please visit: https://www.upower-limited.com/ 

About SMAT

Sumitomo Mitsui Auto Leasing & Service (Thailand) Co., Ltd. (SMAT) is a leading provider of corporate vehicle leasing and fleet management solutions in Thailand. Established in 2003 as a subsidiary of Japan’s Sumitomo Mitsui Auto Service Co., Ltd., SMAT has over two decades of experience in supporting businesses with comprehensive mobility services and currently manages a fleet of over 10,000 vehicles nationwide.

About Auto Drive

Auto Drive EV Public Company Limited is a pioneering Thai company specializing in electric vehicle (EV) solutions aimed at promoting sustainable transportation and reducing air pollution. In collaboration with Grab Thailand, Auto Drive EV launched the “Electric Taxi Rental Project,” aiming to deploy up to 2,000 electric taxis by 2025 in key tourist cities across Thailand.

Forward-Looking Statements

This press release contains “forward-looking statements.” Forward-looking statements reflect the company’s current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the company’s current expectations and projections about future events that the company believes may affect its financial condition, results of operations, business strategy, and financial needs.

Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law.

Although the company believes the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Investors are encouraged to review other factors that may affect future results in the company’s registration statement and other filings with the U.S. Securities and Exchange Commission (SEC).

For more information, please visit: https://www.upower-limited.com/

Media Contact: xing.wang@upincar.com

TERREPOWER Appoints Michael Boe as President of Europe Business Unit

DAPHNE, Ala., May 5, 2025 /PRNewswire/ — TERREPOWER, a global leader in sustainable manufacturing, specializing in providing high-quality, reliable products to the automotive and industrial markets, announces the appointment of Michael Boe as President of its Europe business unit, effective May 1, 2025. Boe will be based in Zug, Switzerland and will lead the company’s European operations as it continues to expand its footprint and capabilities across the region.

“Michael’s deep expertise in the automotive aftermarket and proven leadership across complex global operations make him the ideal leader to guide our Europe business into its next phase of growth,” said Duncan Gillis, Chief Executive Officer of TERREPOWER. “We’re excited to have him on board as we position our Europe business for long-term success.”

Boe brings more than 30 years of international experience to the role, most recently serving as Vice President & General Manager, Global Aftermarket at BorgWarner Emission, Thermal & Turbo Systems. In this capacity, he led operations across Europe, North America, South America, and China, and managed a global remanufacturing network spanning Poland, Mexico, China, and Brazil. His leadership covered a wide range of product lines, including transmissions, turbochargers, and ignition systems.

Prior to that, Boe held several senior leadership roles at Meritor, including Managing Director of the company’s Commercial Vehicle Aftermarket business in EMEA and Sales Director for EMEA. In both roles, he drove significant improvements in profitability, operational execution, and customer engagement.

“I’m excited to join TERREPOWER at such a pivotal time in its evolution,” said Boe. “The company’s commitment to innovation and sustainability, paired with its global growth strategy, makes this an incredible opportunity. I look forward to working with the talented team in Europe to build on the strong foundation already in place.”

About TERREPOWER
TERREPOWER, formerly BBB Industries, LLC, is a global leader in sustainable manufacturing, specializing in providing high-quality, reliable products to the automotive and industrial markets. With an extensive footprint and operations throughout North America and Europe, TERREPOWER sustainably manufactures and supplies an assortment of nondiscretionary repair parts across more than 90 countries. Founded in 1987, TERREPOWER has a legacy of innovation and a commitment to advancing the circular economy and extending product lifecycles.

www.terrepower.com

 

Tuna eco claims put to the test: how to buy sustainably

  • A new University of Tasmania (UTAS) report commissioned by the Marine Stewardship Council (MSC) scores canned tuna brands against ACCC Principles for Environmental Claims.
  • New YouGov survey shows canned tuna consumption is rising: 78% of Aussies now say they purchase canned tuna compared to 72% in 2023. Gen Z, Millennials, and young families are driving the increase.

SYDNEY, May 5, 2025 /PRNewswire/ — Australians are being urged to check their cans and look beyond the label of their favourite tuna brands. A new academic study by the University of Tasmania and fresh insights from YouGov reveal which brands deliver on environmental claims — and which fall short.

In a combined report released on World Tuna Day, canned tuna is a pantry staple for 78% of Australians, yet many shoppers remain in the dark about how it’s sourced. The Greenwashing in the Tuna Industry report is the first to assess 14 popular brands against the ACCC’s guidelines for environmental claims, uncovering widespread issues like vague language, omitted details, and a lack of verified evidence.

With the ACCC cracking down on greenwashing, the findings are timely: while 79% of Australians say they try to buy sustainable tuna, only 15% look for independently verified ecolabels like the blue Marine Stewardship Council (MSC) tick, leaving many vulnerable to misleading marketing.

“Without third-party verification, there’s no way to know if tuna comes from healthy, well-managed fisheries — or from sources that contribute to overfishing and habitat damage,” said Anne Gabriel, MSC Program Director, Oceania.

Brands such as Coles, John West, The Stock Merchant, Little Tuna, Walker’s Tuna and Safcol stood out for clear, transparent sustainability messaging aligned with ACCC guidelines. Notably, those carrying MSC certification scored higher overall.

“Our analysis shows independent certification isn’t just helpful — it’s essential,” said lead researcher Associate Professor Dan Daugaard. “Brands with verified claims are more likely to meet standards and earn consumer trust.”

With over half the world’s wild tuna catch now MSC certified, the best way to be sure your seafood supports sustainable fishing is to look for the blue MSC label.

As Gabriel noted, “This is bigger than just what’s in the can. Every purchase is a chance to protect our oceans and support the UN Sustainable Development Goals for life below water and responsible consumption.”

FinPrime Wins “Best Liquidity Provider Globe 2025” at International Business Magazine Awards

PORT LOUIS, Mauritius, May 5, 2025 /PRNewswire/ — FinPrime, a leading global prime brokerage, is proud to announce its latest achievement at the International Business Magazine Awards 2025, where it was honoured with the prestigious title of “Best Liquidity Provider Globe 2025”. This recognition builds on FinPrime’s exceptional track record, having previously won awards for Best Liquidity Provider, Best Risk Management (Finance Division), Best Liquidity Solutions Provider, and Best Technology Partner in 2024.

The award underscores FinPrime’s unwavering commitment to delivering world-class prime brokerage services and solidifies its position as a trusted leader in the global financial industry.

A Testament to Trust and Excellence

This accolade highlights FinPrime’s ability to provide seamless access to deep liquidity pools, enabling institutional clients to execute their trading strategies with confidence and efficiency. The firm’s innovative approach to liquidity management has set a new benchmark in the industry, earning the trust of clients and industry experts alike.

Shankar Shivaprasad, CEO of International Business Magazine, praised FinPrime’s achievements, stating: “In this rat race and competitive online finance and wealth management landscape, firms opt for a reliable and trustworthy source like FinPrime to manage and channelise the global liquidity and finance of a wide array of clients, ranging from lead bankers and financial institutions to traders and more. Our jury members chose FinPrime as the winner of ‘Best Liquidity Provider Globe 2025’ based on the trust and reputation they have garnered over the years.”

Building on a Legacy of Excellence

Over the years, the firm has demonstrated its ability to adapt to the evolving needs of institutional investors, offering tailored liquidity solutions and cutting-edge technology to enhance trading experiences.

The CEO of FinPrime commented on the achievement:
“We are deeply honoured to receive this prestigious award, which reflects our team’s dedication to excellence and innovation. At FinPrime, we strive to be more than just a service provider; we aim to be a trusted partner for our clients, helping them navigate the complexities of global financial markets. This recognition inspires us to continue pushing boundaries and delivering solutions that empower our clients to succeed.”

Looking Ahead

As FinPrime celebrates this latest achievement, the firm remains committed to driving innovation and delivering exceptional value to its clients. With a focus on continuous improvement and a client-first approach, FinPrime is poised to further strengthen its position as a global leader in prime brokerage services.

The CEO added:
“These awards are not just a recognition of our past achievements but also a motivation to keep innovating and setting new standards in the industry. We are excited about the future and look forward to continuing our journey of excellence with our clients and partners.”

For more information about FinPrime’s award-winning services, visit finprimegroup.com.

About FinPrime

FinPrime is a global prime brokerage that empowers institutional clients with the tools, technology, and expertise needed to thrive in today’s dynamic financial markets. Regulated by the Mauritius Financial Services Commission (FSC), FinPrime offers a comprehensive suite of services, including deep liquidity access, advanced trading platforms, and sophisticated risk management solutions.

 

ATFX Records Impressive Trading Volume of USD 776.5 Billion in Q1 2025

HONG KONG, May 5, 2025 /PRNewswire/ — ATFX, a globally recognized broker in online trading, has achieved significant growth in Q1 2025, as reported by the latest Finance Magnates Intelligence report. The company reached a remarkable total trading volume of USD 776.5 billion across its trading platforms, further cementing its position as a top player in the global financial services industry. Ranked 7th globally by trading volume on MT4/MT5, ATFX continues to reinforce its market presence through consistent platform performance and client engagement.

This outstanding performance highlights ATFX’s commitment to providing innovative trading solutions while strengthening its client engagement. The company’s robust platform capabilities and diverse product offerings have contributed its growing success across various asset classes.

Product Trends:

  • Precious Metals: The precious metals category saw a 34.86% increase compared to Q1 2024 and a 25.98% rise compared to Q4 2024. This continued growth reflects increasing demand and volatility in gold and silver markets, driving more traders to invest in these assets.
  • Currency Pairs: ATFX also saw a 20.43% increase in the currency pairs category compared to Q4 2024. This growth indicates strong market activity and continued interest in forex trading, especially as global currency dynamics evolve.
  • Indices: The indices category surged by an impressive 106.43% compared to Q1 2024. This significant jump is a clear sign of traders capitalizing on the volatility and diverse market conditions in global stock indices.
  • Stocks: Stocks experienced an extraordinary growth rate of 645.60% compared to Q1 2024, and a 97.59% increase compared to Q4 2024. The surge in stock trading volume demonstrates heightened investor interest and an expanding global market for equity trading.

A Commitment to Growth and Innovation

These numbers showcase ATFX’s consistent growth and the company’s dedication to delivering high-quality, innovative trading experiences. The increase in trading volumes across these categories signals a broader shift in investor sentiment and ATFX’s ability to meet the evolving needs of the global trading community.

As ATFX continues to expand its global presence and enhance its product offerings, the company remains focused on providing cutting-edge tools, exceptional customer service, and a seamless trading experience for traders around the world.

About ATFX

ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities including the UK’s FCA, Australian ASIC, Cypriot CySEC, UAE’s SCA, Hong Kong SFC and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.

For further information on ATFX, please visit ATFX website https://www.atfx.com.

New Report Calls for Collective Action to Combat Asia’s Growing Antimicrobial Resistance Threat

  • The Centre for Impact Investing and Practices and the World Economic Forum’s GAEA (Giving to Amplify Earth Action) initiative, supported by the Philanthropy Asia Alliance, have released a study urging cross-sector investment to tackle antimicrobial resistance (AMR) in Asia.
  • AMR could cost Asia up to US$700 billion by 2050 and surpass cancer as the world’s leading cause of death.
  • Report outlines four high-impact intervention areas – from education and prevention to surveillance and treatment – to guide funders and partners.

SINGAPORE – Media OutReach Newswire – 5 May 2025 – The Centre for Impact Investing and Practices (CIIP) and the World Economic Forum’s GAEA (Giving to Amplify Earth Action) initiative, supported by the Philanthropy Asia Alliance (PAA), today launched the report — Targeted Action and Financing the Fight Against Antimicrobial Resistance in Asia.

The report underscores the urgent threat of antimicrobial resistance (AMR) in Asia and outlines four key areas where cross-sector funders can drive meaningful impact. It draws on insights from 15 case studies and examples of funding mechanisms, and contributions from 26 organisations, including international organisations, corporations, philanthropic funders, public institutions, and solution providers.

Often called the silent pandemic, AMR was linked to 4.7 million deaths annually in 2021.[1] It is estimated to become the leading cause of death by 2050, claiming more than 8 million lives[2] and surpassing cancer[3]. Beyond human health, AMR threatens global food systems by reducing global livestock production and polluting waterways. Tackling this growing crisis requires a unified, whole-of-ecosystem approach.

“Antimicrobial resistance is a mounting crisis that threatens to reverse decades of medical progress, with Asia at the epicenter of this challenge. We have identified clear needs, but no single organisation can tackle this alone and substantial philanthropic and catalytic funding is required. It demands all actors — across sectors and borders — to step up, pool resources, and collaborate. Together, we hope that through active partnerships, we can build a future where effective treatments remain within everyone’s reach,” said Ms. Dawn Chan, Chief Executive Officer, CIIP.

“The Davos Compact on Antimicrobial Resistance (AMR), launched earlier in January this year, seeks to mobilise public-private-philanthropic, cross sectoral collaboration to reduce the global and increasing threat of AMR. This report builds on the Davos Compact, highlighting practical, high impact interventions where catalytic investments can help safeguard health and well-being, reducing risks and deaths associated with AMR,” said Ms. Gim Huay Neo, Managing Director, Member of the Managing Board, World Economic Forum.

Asia: A Crucible for the Multifaceted AMR Challenge

Globally, nearly one in five AMR-related deaths occur in children under five[4], and two in three in adults over 65[5]. However, Asia bears the brunt of the disease incidence, accounting for more than half of the 4.71 million deaths worldwide associated with AMR in 2021[6]. Rising temperatures and extreme weather events are accelerating bacterial growth and disease transmission, while disrupting healthcare and immunisation services – particularly in regions with inadequate healthcare infrastructure and sanitation. These climate-related pressures are also driving the increased use of antimicrobials in livestock and crops, contaminating freshwater sources and fuelling drug resistance.

In Asia Pacific alone, AMR-related costs are projected to reach up to US$700 billion by 2050, accounting for up to 1% of the region’s GDP[7]. However, timely investment in AMR solutions could generate US$10–15 billion in annual healthcare savings, and cut annual socio-economic costs by up to US$40 billion for Asia Pacific within the next decade.[8] Tackling AMR is essential for health security, as well as ensuring long-term economic resilience and sustainable development.

A Unified Approach to Antimicrobial Development and Use

Despite research advancements, market and policy gaps make it challenging to bring new drugs to patients as the costs involved in development and regulatory approval tend to outweigh the immediate returns upon product launch. A One Health approach — one that recognises the interconnectedness and interdependence across humans, animals, plants, and the wider environment — is essential to tackle AMR sustainably.

While new therapeutics such as drugs and vaccines can take 10 to 15 years to develop and launch to market[9] (a marathon), immediate and practical interventions (sprints) are needed to curb resistance today and pave the way for long-term solutions.

The report thus proposes interventions in four areas:

  • Sprint 1: Educate – Improving knowledge and behaviour by strengthening awareness of AMR among clinicians, patients, and farmers; emphasising the importance of avoiding the overuse or abuse of antimicrobials; as well as introducing strategies to prevent infections in the first place.
  • Sprint 2: Prevent – Strengthening health systems and services by boosting preventive measures such as improving diagnostic capabilities and investing in better water, sanitation, and hygiene (WASH) measures.
  • Sprint 3: Monitor – Enhancing regional surveillance, and data collection and sharing between actors, especially in lower-income countries.
  • Marathon: Treat – Investing in research and development for new antimicrobials, and increasing access to novel and essential medicines.

Financing AMR Solutions At Every Stage

Private funders, impact investors, and philanthropists have a vital role to play in closing critical gaps – particularly in late-stage drug development, where funding is scarce. By pooling resources, funders can help bring life-saving treatments to market, strengthen the antibiotic pipeline, and build more sustainable and widespread access to essential medicines.

“This report is a catalyst for deeper involvement from all sectors — philanthropic, public, and private. It highlights the scale of the AMR threat and the opportunity for collective action. We are encouraged by the ongoing work of organisations – including PAA members like the Gates Foundation, Wellcome Trust, and Novo Nordisk Foundation – in driving AMR research and greater access to affordable solutions. Now is the time for more partners to come together, pool resources, and support high-impact solutions that safeguard health and resilience across Asia and beyond,” said Mr. Shaun Seow, Chief Executive Officer, PAA.

The AMR threat demands urgent, coordinated, and sustained action across healthcare, agriculture, and food systems to protect communities in Asia.

Read the full report here: https://ciip.com.sg/knowledge-hub/research-insights/Details/targeted-action-and-financing-the-fight-against-antimicrobial-resistance-in-asia


[1] Naghavi, M., Vollset, S. E., Ikuta, K. S. et al. (2024). Global burden of bacterial antimicrobial resistance 1990–2021: a systematic analysis with forecasts to 2050. The Lancet, Volume 404, Issue 10459, p1199-1226. https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(24)01867-1/fulltext

[2] Naghavi, M., Vollset, S. E., Ikuta, K. S. et al. (2024). Global burden of bacterial antimicrobial resistance 1990–2021: a systematic analysis with forecasts to 2050. The Lancet, Volume 404, Issue 10459, p1199-1226. https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(24)01867-1/fulltext

[3] Gavi (2022). Antimicrobial resistance now causes more deaths than HIV/AIDS and malaria worldwide – new study. 20 January 2022. Available at: https://www.gavi.org/vaccineswork/antimicrobial-resistance-now-causes-more-deaths-hivaids-and-malaria-worldwide-new.

[4] Antimicrobial Resistance Collaborators. (2022). Global burden of bacterial antimicrobial resistance in 2019: a systematic analysis. The Lancet, Volume 399, Issue 10325, p629-655. https://www.google.com/url?q=https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(21)02724-0/fulltext%23supplementary-material&sa=D&source=docs&ust=1744866648294504&usg=AOvVaw0fopMXnonRugpe_OJ7JhIx

[5] Naghavi, M., Vollset, S. E., Ikuta, K. S. et al. (2024). Global burden of bacterial antimicrobial resistance 1990–2021: a systematic analysis with forecasts to 2050. The Lancet, Volume 404, Issue 10459, p1199-1226. https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(24)01867-1/fulltext

[6] Institute for Health Metrics and Evaluation (IHME). (2024). The Lancet: More than 39 million deaths from antibiotic-resistant infections estimated between now and 2050, suggests first global analysis. https://www.healthdata.org/news-events/newsroom/news-releases/lancet-more-39-million-deaths-antibiotic-resistant-infections.

[7] L.E.K. Consulting (2021) Asia-Pacific in the Eye of AMR Storm: Nurturing Innovation To Fight Antimicrobial Resistance. https://www.lek.com/sites/default/files/PDFs/Nurturing-Innovation-AMR-management.pdf?trk=article-ssr-frontend-pulse_little-text-block

[8] L.E.K. (2021). Asia-Pacific in the Eye of AMR Storm: Nurturing Innovation To Fight Antimicrobial Resistance. https://www.lek.com/sites/default/files/PDFs/Nurturing-Innovation-AMR-management.pdf

[9] Derep, M. (2022). What’s the average time to bring a drug to market in 2022? N-Side. https://lifesciences.n-side.com/blog/what-is-the-average-time-to-bring-a-drug-to-market-in-2022.

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

About the Centre for Impact Investing and Practices

The Centre for Impact Investing and Practices (CIIP) was established in 2022 as a non-profit entity by Temasek Trust to foster impact investing and practices in Asia and beyond by building and sharing knowledge, bringing together stakeholders in the community, and bringing about positive action that accelerates the adoption of impact investing principles and practices. CIIP is the anchor partner for the United Nation Development Programme’s Private Finance for the SDGs, providing Asia investors and businesses with clarity, insights and tools that support their contributions towards achieving the SDGs. Temasek and ABC Impact are CIIP’s strategic partners. For more information, please visit .

About GAEA (Giving to Amplify Earth Action)

To reach net zero, reverse nature loss and restore biodiversity by 2050, funding for equitable climate and nature transitions must be stepped up by more than $3 trillion annually. No actor can solve these issues alone; only together – through partnerships, elevated ambition and accelerated learning – can the most pressing problems facing the planet be solved. The World Economic Forum launched the GAEA (Giving to Amplify Earth Action) initiative to convene 4P – Public, Private and Philanthropic Partnerships – for climate and nature, activating systemic bold partnerships to improve the state of the world.

About Philanthropy Asia Alliance

Philanthropy Asia Alliance (PAA) is a Temasek Trust initiative dedicated to catalysing collaborative philanthropy in Asia through dynamic multi-sector partnerships. By harnessing collective strengths, PAA multiplies impact, accelerates positive change, and takes urgent action to address the pressing environmental and social challenges of our time. PAA’s flagship programme is the annual Philanthropy Asia Summit. For more information, visit .

Philanthropy Asia Alliance Launches Two New Communities to Tackle Health Challenges and Accelerate Asia’s Just Energy Transition

  • The Health for Human Potential Community will address maternal and child health as well as infectious diseases, while the Just Energy Transition Community will focus on closing energy transition gaps.
  • The Health for Human Potential Community aims to mobilise over US$100 million in catalytic philanthropic funding by 2030
  • PAA’s Communities initiative continues to foster deeper collaboration within philanthropic ecosystem

SINGAPORE – Media OutReach Newswire – 5 May 2025 – The Philanthropy Asia Alliance (PAA) today announced the launch of two new Communities – the Health for Human Potential (HHP) Community and the Just Energy Transition (JET) Communityat the Philanthropy Asia Summit 2025. These Communities build on PAA’s ongoing efforts to convene stakeholders around shared challenges and to explore promising pathways for philanthropic collaboration, applying a systems lens to drive scalable solutions in energy, health, and education.

Each Community is helmed by Community Leads – PAA members – who will actively shape, fund and advance each Community’s work together with PAA. The Community Leads for each Community are listed in the next two sections.

Developed with PAA members and launched in 2024, the Communities initiative brings together funders, practitioners, and ecosystem partners to collaborate on shared missions and collectively fund high-impact, PAA-evaluated projects. The first three Communities introduced at last year’s Summit were Blue Oceans, Sustainable Land Use, and Holistic & Inclusive Education. Since their launch, the first three Communities have forged various pathways, from peer learning and exchange of expertise to piloting collaborative projects.

“The Communities initiative was born from a simple idea: that we can do more, and do better, when we act together,” said Mr Shaun Seow, Chief Executive Officer, Philanthropy Asia Alliance. “Tackling complex challenges across health, energy, or education calls for differentiated approaches. To drive deep impact, it is critical for PAA to provide focused platforms for collaboration, apart from industry convenings such as the Philanthropy Asia Summit. The two new Communities are another step forward in that direction. We are grateful to all our Community Leads for their commitment, partnership, and belief in our collective impact.”

Health for Human Potential (HHP) Community: Tackling Asia’s Health Challenges with Ambition and Urgency

PAA has launched the HHP Community with two objectives: to reduce preventable deaths and disease burdens across Southeast Asia, focusing on maternal, newborn, and child health and nutrition (MNCHN), as well as to tackle infectious diseases. The initial leads of the Health for HHP Community are the Gates Foundation, Institute of Philanthropy, Quantedge Advancement Initiative, Tanoto Foundation, and Temasek Foundation.

Together, they are catalysing a bold ambition to drive lasting improvements in health across Asia. To kickstart efforts, the HHP Community Leads and the Philanthropy Asia Alliance will commit catalytic funding towards a portfolio of projects. With an initial funding target of US$100 million by 2030, the Community aims not only to deliver impact but also to strengthen the broader giving ecosystem by welcoming new partners and building a sustained, long-term coalition committed to improving health outcomes in the region. Discussions with other partners are ongoing and more are expected to join in coming months.

The HHP Community will drive impact across the health innovation and delivery continuum by advancing affordable health solutions, strengthening health systems, promoting cross-sector collaboration, and integrating digital and AI tools into solutions that align with national health priorities. Efforts will initially focus on Indonesia, the Philippines, and Vietnam – Southeast Asia’s most populous countries – where important gains have been made but further progress is needed to achieve Sustainable Development Goals related to MNCHN and infectious diseases, including tuberculosis and malaria.

Just Energy Transition Community: Catalysing Philanthropic Action for a Clean and Inclusive Energy Future

Co-led with members including Tara Climate Foundation, Bloomberg Philanthropies, and other philanthropic organisations, PAA has also launched the Just Energy Transition (JET) Community to galvanise philanthropic leadership and accelerate Asia’s shift towards clean, inclusive, and people-centred energy solutions. Despite being home to over half the world’s population and accounting for more than 50% of global energy consumption[1], Asia receives disproportionately lower philanthropic support for its critical energy transition. Between 2019 and 2023, just 20% of philanthropic funding reached Asia, Africa, and Latin America combined, while nearly 60% flowed to the U.S. and Europe[2].

The JET Community seeks to close this gap, serving as a collaboration platform for philanthropic organisations to support clean energy initiatives that protect the environment, improve livelihoods, and support a better future for millions across the region. It will create space for funders, governments, industry, and local communities to work together and share ideas, build meaningful partnerships, and co-develop initiatives around job creation, workforce reskilling, better health outcomes, and stronger, more resilient communities.

Refer to the Appendix for quotes from the HHP and JET Community Leads.

Scaling Collective Impact: A Systems Approach

At the Philanthropy Asia Summit 2025, both Communities will host kick-off sessions to engage like-minded partners and catalyse collaboration around shared goals. These sessions will mark the start of co-developing each Community’s Collective Impact Framework – a strategic blueprint that defines a common mission, scopes the challenge, and sets clear metrics and timelines for progress.

The Communities will also bring together researchers, industry groups, thought leaders, and programme experts — including Temasek Foundation, which brings 18 years of experience piloting and catalysing innovative solutions and programmes with partners in Asia and beyond. Temasek Trust will support the Communities in applying a systems thinking approach to impact design and measurement.

APPENDIX

Quote Sheet

Health for Human Potential Community
Mr. Hari Menon, Director, South & Southeast Asia, Gates Foundation:

“As the Gates Foundation marks 25 years of working to advance health and equity around the world, we are reminded that lasting progress is only possible through strong partnerships. The Health for Human Potential Community exemplifies this spirit of collaboration – bringing together funders, innovators, and governments to drive transformative impact across Asia. Together, we can accelerate progress in maternal, newborn, and child health, tackle infectious diseases, and help ensure healthier, more equitable futures for generations to come.”

Mr. Brian San, Co-Secretary-General, Institute of Philanthropy:

“True progress requires bold partnerships, and we are glad to stand alongside our fellow HHP Community Leads and PAA to help tackle some of the region’s most urgent health challenges. As a “think-fund-do” tank working for the betterment of communities everywhere, we believe that philanthropy should go beyond funding – it should catalyse impactful solutions that drive meaningful change. By focusing on maternal, newborn, and child health, as well as infectious diseases, this partnership aims to strengthen health systems and drive more equitable access to care. Together, we can create a healthier future for regional communities and demonstrate the power of collective action in philanthropy.”

Ms. Tan Yan Ru, Executive Director, Quantedge Advancement Initiative:

“We believe that good health is foundational to unlocking human potential. Through the HHP Community, we are joining forces with bold, mission-aligned changemakers to back transformative solutions that drive lasting improvements in health outcomes and build stronger, healthier communities across the region.”

Ms. Belinda Tanoto, Member of Board of Trustees, Tanoto Foundation:

“At Tanoto Foundation, we’re committed to driving systems change so every child has the opportunity to reach his or her full potential. Being part of the HHP community reflects our aspirations as an ecosystem catalyst in collaborating with like-minded funders and governments to create brighter, healthier tomorrows for children, their families, and their communities.”

Mr. Ng Boon Heong, Executive Director and Chief Executive Officer, Temasek Foundation:

“No single actor can solve today’s health challenges alone. We need to scale and operationalise innovations, empower frontline professionals, and deliver care where it is needed most. The Health for Human Potential Community will leverage our combined strengths to turn bold ideas into systemic change. We invite others to join us in building a healthier Asia.”

Just Energy Transition Community
Ms. Jamie Choi, Chief Executive Officer, Tara Climate Foundation:

“Asia’s just energy transition isn’t just a challenge – it’s one of the greatest opportunities of our time. If we get this right, we won’t just cut emissions – we’ll create jobs, strengthen communities, and secure a healthier, more resilient future for millions. The Just Energy Transition Community is about turning intent into action – a call for bold, collaborative leadership to unite Asian and global funders and deliver the impact this moment demands.”

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

About Philanthropy Asia Alliance

Philanthropy Asia Alliance (PAA) is a Temasek Trust initiative dedicated to catalysing collaborative philanthropy in Asia through dynamic multi-sector partnerships. By harnessing collective strengths, PAA multiplies impact, accelerates positive change, and takes urgent action to address the pressing environmental and social challenges of our time. PAA’s flagship programme is the annual Philanthropy Asia Summit. For more information, visit.

Co-Axis Secures S$1.25 Million in Catalytic Capital to Scale Climate and Health Solutions in Asia


SINGAPORE – Media OutReach Newswire – 5 May 2025 – Co-Axis, a digital impact marketplace connecting funders with impact opportunities advancing the UN SDGs, has secured S$1.25 million in catalytic capital from the Richardson Family (RF), a UK based family office, and Catalytic Capital for Climate and Health (C3H), a catalytic vehicle by Temasek Trust, to support and scale solutions in climate, health, and their intersection.

RF has committed S$250,000 over two years to co-fund impact opportunities curated by Co-Axis, with the support of C3H. RF will leverage the due diligence conducted by C3H and align with its investment terms and post-investment reporting framework. C3H is also committing S$1 million to co-fund Co-Axis impact opportunities focused on climate, health, and their intersection.

“We see great value in being able to co-invest in curated opportunities where the intent is clear, the due diligence is robust, and the additionality we bring is meaningful,” said a spokesperson for the Richardson Family.

“Catalytic capital plays a vital role in de-risking early-stage opportunities and unlocking additional funding,” said Mr Ryan Tan, Head, C3H. “At C3H, we back bold, scalable solutions in climate, health, and their intersection. By harnessing Co-Axis and a collaborative ecosystem, we can accelerate capital deployment and scale impact where it matters most.”

Bridging the SDG Financing Gap Through Catalytic Capital

The global push to achieve the United Nations Sustainable Development Goals (SDGs) by 2030 faces a significant financing shortfall, with estimates indicating an annual gap of approximately US$4.2 trillion[1]. This deficit is particularly pronounced in developing regions, where public funding for international development has stagnated over the past decade.

Catalytic capital – patient, risk-tolerant, and flexible – has emerged as a key enabler in bridging this gap. Unlike conventional investments, it is designed to unlock additional private capital and absorb higher risk to drive positive social and environmental outcomes. In Asia, momentum is growing: the ASEAN Catalytic Green Finance Facility is helping mobilise funds for sustainable infrastructure, while other initiatives such as the Climate Innovation and Development Fund or the Southeast Asia Clean Energy Facility II (SEACEF II) further signal a regional shift towards more innovative, impact-focused financing.

While still nascent, the catalytic capital ecosystem is gaining traction as more funders recognise its potential to transform how capital is deployed. Co-Axis contributes to this momentum by channelling funding into SDG-aligned opportunities with strong governance, measurable outcomes, and potential for systems-level change.

Unlocking Catalytic Capital for Impact Opportunities Advancing the UN SDGs

Since being launched at the Philanthropy Asia Summit (PAS) in April 2024, Co-Axis now has about 100 impact opportunities from over 40 countries on its platform. It works with a range of partners across the Temasek Trust ecosystem to offer:

  • A robust pipeline of impact opportunities sourced from the Temasek Trust network, which have undergone thorough screening and adhere to internationally recognised standards.
  • Expert philanthropy advisory services from TT Foundation Advisors (TTFA) to guide giving strategies.
  • Knowledge and capacity-building programmes through partners such as the Centre for Impact Investing & Practices (CIIP) and Tri-Sector Associates (TSA).

Through its efforts, Co-Axis is cultivating a thriving community of impact innovators, funders, and stakeholders working together to accelerate transformative solutions to global challenges.

“By connecting values-driven capital with curated impact opportunities, Co-Axis is creating new pathways across the capital spectrum to accelerate and scale collective impact,” said Ms Joycelyn Ong, Head, Co-Axis. “Momentum is building – we invite impact innovators to join us, and like-minded funders to explore and support the many high-impact solutions available on Co-Axis.”

To find out more, visit Co-Axis at www.coaxis.network.


[1] ‘2024 Financing for Sustainable Development Report‘, United Nations Department of Economic and Social Affairs

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

About Richardson Family

The Richardson family business is a multi-generational, independent, investment and trading business, founded in UK the first half of the 20th Century. To find out more visit .

About Catalytic Capital for Climate and Health

Catalytic Capital for Climate and Health (“C3H”) is a catalytic vehicle by Temasek Trust that provides capital to innovative, early-stage companies in Climate, Health, and their intersection. C3H focuses on companies that deliver tangible impact through bold, scalable solutions. Its activities are anchored by Temasek Trust’s impact areas of Planet, People, Peace, and Progress. Follow C3H on for updates.

About Co-Axis

Co-Axis – Collaborative Action to Xcelerate Impact and Sustainability – is a digital impact marketplace that catalyses high-impact solutions at speed and scale by unlocking capital across the spectrum and galvanising action within the global impact community. It curates opportunities ranging from research and early-stage innovations to new business models, connecting them with a diverse network of funders, solution providers, and expert advisors. Beyond transactions, Co-Axis fosters knowledge exchange and capacity-building through forums, a knowledge hub, and workshops – empowering global leaders to seed capital, spark ideas, and scale impact for a better tomorrow. Learn more at and follow Co-Axis on for updates.