26 C
Vientiane
Tuesday, June 17, 2025
spot_img
Home Blog Page 70

VinFast Finds Strategic Opening in Gulf’s EV Shift

The Gulf nations offer more than growth potential. For VinFast, it presents a well-timed opportunity to expand into a region that’s actively investing in clean transportation while remaining open to new players.


HANOI, VIETNAM – Media OutReach Newswire – 29 May 2025 – Gulf countries are reinventing themselves, quickly. They are now investing in cleaner energy, modern infrastructure, and long-term economic resilience. National strategies like UAE Vision 2031 and Qatar Vision 2030 are pushing change across energy, transport, and technology.

VinFast officially launched in the Middle East in October 2024.
VinFast officially launched in the Middle East in October 2024.

Electric vehicles can play an important part in this shift. They support environmental goals and open up new industrial opportunities, helping to build new value chains and attract long-term investment. What’s more, people in the region are already warming up to EVs.

In the UAE, for example, 63% of residents want EVs to be their main way of getting around by 2025, according to a YouGov survey[1]. Around 73% believe that by 2028, charging stations will be available every few kilometers. These findings show that consumers are ready for change and already have expectations for the infrastructure. They’re looking for reliable options, and they’re open to new brands that can deliver quality and long-term support.

Governments are playing an active role in speeding up this transition, in part to prepare for a post-oil future. Countries across the Gulf are investing in EV strategies as part of their broader economic diversification plans. Qatar’s EV Strategy 2021 is already showing results. Over 70% of its public buses are now electric[2], and its policies promote local assembly, training, and infrastructure partnerships. Oman is also making progress, with initiatives like Net Zero 3 aimed at cutting emissions and reducing fuel use. The country plans to have at least 22,000 EVs on the road by 2040 and to phase out fossil fuel vehicles by 2050[3].

From a bird’s eye view, these policies reflect broader national and regional goals to diversify the economy and reduce reliance on fossil fuels. Meeting those goals requires partners who can contribute to more than just car sales, leading governments to look for companies that will help build service networks, support local jobs, and stay for the long term.

The call for growth in untapped markets is proving irresistible to international brands. One of them is VinFast, the best-selling car brand in Vietnam. It is stepping into this space with the right offer at the right time, bringing more than ambition. The company has already opened a dealership in downtown Dubai and launched a showroom in Muscat. Its models are smart, practical, and priced to attract high-paying consumers.

The Gulf’s EV market is still developing, which gives early entrants like VinFast a real advantage. There’s space to build customer trust, establish brand recognition, and help shape the expectations of a new generation of EV buyers. By coming in early and backing up its presence with reliable service and local engagement, VinFast can stand out in a space that is filling up fast.

For VinFast, a global brand that has established a presence in more than a dozen countries, the Gulf nations and the broader Middle East region are not merely another stop on the map. They represent a strategic move that aligns with both what the company offers and what the region needs. Demand is rising. Policies are in place. And the door is wide open.

Hashtag: #VinFast

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

AccurEdit Therapeutics’ ART001 Becomes China’s First Gene Editing Therapy to Receive FDA Regenerative Medicine Advanced Therapy (RMAT) Designation

RMAT designation expected to expedite development; 72 weeks interim clinical trial data showing sustainable reduction of TTR over 90% with no significant adverse events.

SUZHOU, China, May 29, 2025 /PRNewswire/ — AccurEdit Therapeutics today announced that its internally developed in vivo gene editing therapy ART001 has been granted a Regenerative Medicine Advanced Therapy (RMAT) designation by the U.S. Food and Drug Administration (FDA). Public records indicate that ART001 is the first gene editing product from China to receive an FDA RMAT designation, highlighting the FDA’s recognition of its innovative nature and clinical potential. This designation is expected to help expedite the clinical development of ART001 for patients with ATTR amyloidosis.

Based on the existing clinical data, the FDA confirmed that ART001 meets the criteria for RMAT designation. Clinical results have shown that four weeks after administration, subjects in the high-dose cohort experienced an average >90% reduction in peripheral TTR protein levels from baseline, with this reduction sustained for 72 weeks to date.

ART001 has also exhibited a strong safety profile in clinical studies. In an investigator-initiated trial that has been followed up for 72 weeks by far, no infusion-related reactions or AST (aspartate aminotransferase) elevations—side effects commonly observed with similar therapies—were reported. Importantly, no dose-limiting toxicities (DLTs) or serious adverse events (SAEs) occurred during the study. ART001 demonstrated exceptional precision in pre-clinical studies, with no off-target gene edits detected even at dose levels many times higher than the therapeutic dose. These safety and efficacy findings support ART001’s potential as a globally leading, best-in-class treatment for ATTR.

ART001 has achieved several milestones in its development. In August 2023, ART001 became the first lipid nanoparticle (LNP)-delivered in vivo gene editing drug to enter a human clinical trial in China. It later received clearance to conduct clinical trials in both China and the United States (China in July 2024 and U.S. in August 2024), making it the only therapy of its class with regulatory approval to initiate trials in both countries. ART001 has since advanced into a Phase IIa study. In March 2025, the FDA also granted ART001 Orphan Drug designation for the treatment of ATTR amyloidosis, further supporting its potential to address this life-threatening disease.

About Regenerative Medicine Advanced Therapy (RMAT) Designation

The RMAT designation was established under the U.S. 21st Century Cures Act of 2016 as a program to expedite the development and review of innovative regenerative medicine products, including cell therapies, gene therapies, tissue-engineered products, and combination products. An investigational therapy may receive RMAT designation if it is intended to treat a serious or life-threatening condition and preliminary clinical evidence indicates the therapy has the potential to address unmet medical needs by demonstrating a meaningful therapeutic effect on the disease.

About AccurEdit Therapeutics

AccurEdit Therapeutics, founded in 2021, is a biotechnology company focused on developing in vivo gene editing technologies and therapies based on lipid nanoparticle (LNP) and other non-viral delivery systems. The company is dedicated to providing one-time, cost-effective, innovative treatment solutions to patients worldwide. It has assembled a specialized team with successful experience across the biologic drug development lifecycle and has established the world’s first clinically validated, industrial-scale, end-to-end in vivo gene editing platform. AccurEdit Therapeutics has built a broad intellectual property portfolio covering its technologies and products, including a novel base editor ARTbase-A1™, which has been granted a U.S. patent.

AccurEdit Therapeutics is advancing a pipeline targeting both rare genetic diseases and difficult-to-treat common diseases. In August 2023, its lead product ART001 (for ATTR amyloidosis) became the first LNP-delivered in vivo gene editing therapy to enter a human clinical trial in China. In August 2024, ART001 also became the first – and currently only – such product to receive an Investigational New Drug (IND) approval from the U.S. FDA. In February 2025, the company’s second product ART002 (targeting heterozygous familial hypercholesterolemia [HeFH] via the PCSK9 gene) became the world’s first in vivo gene editing product of its class to achieve pharmacodynamic saturation in humans and effectively reduce LDL-C levels in patients with extremely high baseline cholesterol. The safety and efficacy data from both ART001 and ART002 suggest these candidates have the potential to become best-in-class gene editing therapies globally.

Neuronata-R® Stem Cell Therapy Shows Promise in ALS Phase 3 Subgroup Analysis, Moves Toward FDA Accelerated Approval

Meaningful efficacy observed in slow-progressor subgroup; NfL biomarker improvements support potential for accelerated regulatory pathway

SEOUL, South Korea, May 29, 2025 /PRNewswire/ — Neuronata-R®, an autologous bone marrow-derived mesenchymal stem cell (MSC) therapy for amyotrophic lateral sclerosis (ALS), has demonstrated meaningful efficacy signals in a subgroup of participants with slow disease progression in its recently completed Phase 3 trial. The therapy also showed consistent reductions in neurofilament light chain (NfL) levels — a biomarker that served as the basis for FDA accelerated approval in ALS, including the recent decision on Tofersen — supporting its potential to pursue a similar regulatory pathway.

Developed by South Korean biotech company CorestemChemon (KOSDAQ: 166480), Neuronata-R® utilizes MSCs derived from a participant’s own bone marrow to modulate inflammation, protect motor neurons, and alter the neurodegenerative microenvironment through paracrine signaling. ALS, a rare and fatal disease with no cure, remains one of the most urgent areas of unmet medical need. Neuronata-R® aims to address the disease’s complex pathology by leveraging the therapeutic potential of autologous MSCs.

In December 2024, CorestemChemon announced topline results from the ALSummit trial (NCT04745299), noting that the study did not meet its primary endpoint — a combined assessment of function and survival known as CAFS — in the overall patient population. However, a post hoc analysis conducted after the completion of the trial and full data collection revealed significant clinical improvements in a subgroup of patients with slower disease progression. To discuss these findings, the company plans to meet with the U.S. Food and Drug Administration (FDA) later this year to discuss these findings, with the aim of submitting a biologics license application by the end of 2025 and potentially securing accelerated approval by mid-2026.

Subgroup Analysis Supports Targeted Efficacy

The final Clinical Study Report (CSR) confirmed that Neuronata-R® demonstrated statistically significant improvements in key efficacy endpoints among participants with slow disease progression. Recognizing the potential efficacy of Neuronata-R® in early-stage ALS, CorestemChemon stratified participants into slow and fast progressors.

Among slow progressors, Neuronata-R® showed statistically significant improvements across multiple measures — including the primary composite endpoint, CAFS (Combined Assessment of Function and Survival), functional outcomes assessed by ALSFRS-R scores, and respiratory function measured by slow vital capacity (SVC).

Notably, the five-dose treatment arm (Group 2) demonstrated statistically significant improvement in ALSFRS-R scores beginning at Month 9 post-treatment — one month earlier than the two-dose arm (Group 1), which reached significance at Month 10.

This final CSR also included full analyses of CAFS and SVC, which had not been previously disclosed. While CAFS served as the trial’s primary efficacy endpoint, SVC is recognized as a clinically meaningful measure of respiratory decline in ALS.

At Month 6, participants in Group 1 receiving Neuronata-R® showed a statistically significant improvement in CAFS (LS Mean 20.95 vs 13.66; 95% CI; p<0.024) compared with placebo. Group 2 also showed improvement (LS Mean 24.78 vs 17.92; 95% CI; p<0.041). In Group 2, significant divergence in SVC compared to the control group emerged from Month 8 post-treatment, suggesting a potential effect in delaying disease progression.

NfL Biomarker Reduction Mirrors Regulatory Precedent

CorestemChemon also highlighted the reduction in NfL levels — a biomarker that served as the basis for FDA accelerated approval in ALS, including the recent decision on Tofersen. In both the two-dose (Group 1) and five-dose (Group 2) arms, NfL levels consistently declined over time. Notably, in Group 2, NfL levels were significantly lower than placebo at both Month 4 and Month 10, suggesting a potential dose-dependent effect.

The consistency between the company’s internal analysis and validation by an independent CRO strengthens the reliability of the dataset, which has been incorporated into the final CSR.


“This subgroup analysis lends strong support to a biomarker-driven approval strategy,” a company official said. “The consistency of our internal analysis with external CRO validation adds credibility to the dataset and provides a concrete basis for regulatory discussions with the MFDS.”

Regulatory Pathway Toward Accelerated Approval

The company views these findings as strategically significant, particularly in light of their alignment with the precedent set by Tofersen, where the FDA granted accelerated approval based on NfL reduction rather than survival benefit — a pathway CorestemChemon now seeks to pursue.

The company plans to request a Pre-BLA or Type C meeting with the FDA in Q3 2025, with the goal of submitting a biologics license application by Q4 2025 and targeting regulatory approval by mid-2026. CorestemChemon will finalize its submission package in collaboration with a global CRO and actively engage with regulatory agencies to pursue worldwide market entry for Neuronata-R®.

Innovative Stem Cell Therapy

Neuronata-R® uniquely addresses the complex mechanisms of ALS by leveraging MSCs derived from the patient’s own bone marrow. These cells exert anti-inflammatory and immunomodulatory effects, protect motor neurons, and, through paracrine signaling, secrete trophic factors, cytokines, and extracellular vesicles that modulate the microenvironment and reduce neuroinflammation. By targeting these underlying pathological processes, Neuronata-R® is designed to interrupt the neurodegenerative cascade.

About Neuronata-R®

Neuronata-R® (Lenzumestrocel), developed and commercialized by CorestemChemon Inc. (KOSDAQ: 166480), is an autologous MSC therapy for ALS patients. The company began ALS research in 2002 and obtained MFDS approval for Neuronata-R® in 2014. To date, it has been administered to more than 400 commercial patients and 190 clinical trial participants with no treatment-related serious adverse events reported.

Neuronata-R® holds Orphan Drug Designation from both the U.S. FDA (2018) and the EMA (2019). CorestemChemon completed a Phase 2 trial (NCT01363401) in 2014 and its Phase 3 trial (NCT04745299) in 2024; the final CSR has been submitted to the MFDS.

CODIT Launches ‘APEC 2025’ Policy Monitoring Platform

  • AI-Powered Legislative Insights: CODIT’s Global Evidence-Based Policy Institute strengthens policy research and strategy

SEOUL, South Korea, May 29, 2025 /PRNewswire/ — CODIT, an AI-powered leading GovTech firm, has launched a policy monitoring platform developed to support the upcoming 2025 Asia-Pacific Economic Cooperation (APEC) Summit. The platform is intended to assist a wide range of stakeholders by delivering real-time updates on key policy issues in the lead-up to the October summit in Gyeongju, following the Second Senior Officials’ Meeting (SOM2) held this May in Jeju.

CODIT’s ‘APEC 2025’ platform features a real-time policy dashboard that categorizes and visualizes major APEC-related developments. Powered by CODIT’s proprietary AI engine, the platform tracks and analyzes activity across APEC’s core agenda areas, including AI and digital cooperation, ESG, and trade and investment liberalization.

With this year’s APEC Summit expected to bring intensive multilateral dialogue amid a rapidly evolving geopolitical environment, access to timely and reliable policy insights is more important than ever. CODIT’s platform is designed to help summit participants, policy professionals, and media stay informed and strategically prepared.

“GovTech is no longer a future concept—it’s a present-day force transforming how we engage with policy. By harnessing AI to track and interpret complex developments in real time, we’re helping global stakeholders navigate the road to APEC 2025 with clarity, speed, and purpose.”

Ji Eun Chung, CEO of CODIT

As part of its summit-related efforts, CODIT will participate in Session 1: “Advancing Strategic Orientation for Successful AI Transformation within APEC” at the Public-Private Dialogue on AI Cooperation (Day 2), to be held on August 12 in Incheon, during the Third Senior Officials’ Meeting (SOM3). The session will explore AI’s impact across industries and discuss policy directions for sustainable innovation. CODIT will share insights from its AI-powered legal and policy platform, including the new APEC 2025 monitoring service, and highlight the role of GovTech and startup-driven innovation in enabling effective public-private collaboration.

CODIT currently provides tailored legislation, regulation, and policy intelligence services to FORTUNE 500 companies, large enterprises, and unicorns. Since last year, the company has expanded into the U.S. market. Its Global Evidence-Based Policy Institute regularly hosts seminars featuring members of Korea’s National Assembly and government agencies, helping multinational clients anticipate regulatory shifts and adapt their strategies accordingly.

For media inquiries, please contact: contact@thecodit.com 

CODIT Launches 'APEC 2025' Policy Monitoring Platform
CODIT Launches ‘APEC 2025’ Policy Monitoring Platform

 

Yum China Announces US$510 Million Share Repurchase Agreements for Second Half of 2025 as Part of Broader Capital Return Plan

SHANGHAI, May 29, 2025 /PRNewswire/ — Yum China Holdings, Inc. (the “Company” or “Yum China“) (NYSE: YUMC and HKEX: 9987) announced that it has entered into share repurchase agreements in the U.S. and Hong Kong for an aggregate repurchase amount of approximately US$510 million for the second half of 2025, commencing on July 1, 2025. This represents a 42% increase compared to the share repurchase agreements of US$360 million announced for the first half of 2025. Assuming a quarterly dividend of US$0.24 per share, the total capital return for 2025 will be at least US$1.2 billion.

Yum China is committed to maintaining a dual focus: investing in driving business growth and returning excess capital to shareholders. This approach is supported by our healthy cash position and strong cash generation capabilities. We remain on track to return US$3 billion to shareholders through dividends and share repurchases from 2025 to 2026, in addition to the US$1.5 billion delivered in 2024. The average annual amount over the three years is equivalent to approximately 9% of our current market cap,” said Joey Wat, CEO of Yum China.

The share repurchase agreements for the second half of 2025 include approximately US$410 million under the Rule 10b5-1 of the United States Securities Exchange Act of 1934 in the U.S. and approximately HK$790 million for a similar program in Hong Kong. From 2017 to May 27, 2025, Yum China has returned US$4.8 billion to shareholders through dividends and share repurchases.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “project,” “likely,” “will,” “continue,” “should,” “forecast,” “outlook,” “commit” or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements include, without limitation, statements regarding the future strategies, growth, business plans, and dividend and share repurchase plans. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. Numerous factors could cause our actual results or events to differ materially from those expressed or implied by forward-looking statements. Our plan of capital returns to shareholders is based on current expectations, which may change based on market conditions, capital needs or otherwise. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions “Risk Factor” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results.

About Yum China Holdings, Inc.

Yum China is the largest restaurant company in China with a mission to make every life taste beautiful. The Company operates over 16,000 restaurants under six brands across over 2,300 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. In addition, Yum China has partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Taco Bell offers innovative Mexican-inspired food. Yum China has a world-class, digitalized supply chain, which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world’s most innovative pioneer in the restaurant industry. For more information, please visit https://ir.yumchina.com/.

Contacts

Investor Relations Contact:
Tel: +86 21 2407 7556
IR@YumChina.com 

Media Contact:
Tel: +86 21 2407 8288 / +852 2267 5807
Media@YumChina.com

 

Iridium and Syniverse Partner to Bring Direct-to-Device Satellite Connectivity to Mobile Network Operators Worldwide

MCLEAN, Va., May 29, 2025 /PRNewswire/ — Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced a new partnership with Syniverse, the world’s most connected company®, to support the rollout of Iridium NTN DirectSM service with mobile network operators (MNOs) worldwide. Through this partnership, Iridium NTN Direct is integrating with Syniverse’s global platform, making it easy for MNOs to keep their customers continuously connected everywhere on the planet.

Iridium Satellite Network
Iridium Satellite Network

According to GSMA’s 2025 Industry Survey, 85% of MNOs planning to pursue non-terrestrial network (NTN) service are seeking a Low-Earth Orbit (LEO) solution that extends their coverage globally. As part of 3GPP Release 19, Iridium NTN Direct will provide truly global, standards-based direct-to-device (D2D) and narrow-band Internet of Things (NB-IoT) messaging and SOS for consumer devices, automobiles and industrial applications in agriculture, transportation, logistics, energy and utilities.

The combination of MNO requirements and Iridium NTN Direct capabilities makes it the ideal solution. With Iridium NTN Direct, MNOs will know they have a reliable partner with a fully deployed, owned and operated satellite constellation, unmatched coverage, globally coordinated mobile satellite services (MSS) spectrum, and a history of providing reliable safety of life services.

“We’re building the backbone of the global D2D movement, the right way and with the right partners as we prepare for on-air testing with MNOs and chipmakers in the coming months,” said Iridium CEO Matt Desch. “The integration of Syniverse’s system with the Iridium® network will give MNOs a simple path to expand their footprint to the entire planet.”

“Satellite networks are becoming a natural extension of the mobile ecosystem, and our role at Syniverse is to make that transition seamless,” said Andrew Davies, Chief Executive Officer of Syniverse. “By integrating Iridium NTN Direct into the global mobile framework using standards-based, carrier-grade systems, Syniverse is simplifying deployment, ensuring consistency and security, and accelerating access to non-terrestrial connectivity.”

For more than 35 years, Syniverse’s leadership in mobile interoperability and clearing services has played a key role in enabling MNO adoption for satellite integration, which includes seamless customer roaming, authentication and billing functions. Their system serves approximately 600 carrier customers directly in 170 countries worldwide and connects over 830 mobile operators with their global IPX backbone. Fully 3GPP-compliant and standards-based, Syniverse ensures fast deployment, helping operators confidently unlock new markets.

Iridium NTN Direct stands out among Non-Terrestrial Network (NTN) and NB-IoT services by offering MNOs an unmatched combination of truly global coverage, reliability and capability. 3GPP Release 19 is expected to be completed by the end of 2025, and the first Iridium NTN Direct connected devices are planned to be available in 2026.

For more information about Iridium, visit: www.iridium.com 

For more information about Iridium NTN Direct, visit: www.iridium.com/ntn-direct/ 

About Iridium Communications Inc.

Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations, and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2024, Iridium acquired Satelles and announced the Iridium Satellite Time and Location service. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services, and partner solutions, visit www.iridium.com.

Forward-Looking Statements Disclosure

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding the capabilities, benefits and availability of the Iridium NTN Direct service. Forward-looking statements can be identified by the words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding the development and marketing of the Iridium NTN Direct service, the company’s ability to maintain the health, capacity and content of its satellite constellation, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) on February 13, 2025, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium’s forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.

Press Contact:

Investor Contact:

Jordan Hassin

Kenneth Levy

Iridium Communications Inc.

Iridium Communications Inc.

Jordan.Hassin@Iridium.com

Ken.Levy@Iridium.com

+1 (703) 287-7421

+1 (703) 287-7570

 

 

Altair Signs MoU with Georgia Institute of Technology to Spur Aerospace Innovation

Organizations will explore the use of simulation, AI, and data analytics for aviation, MRO, space, and robotics applications

TROY, Mich., May 29, 2025 /PRNewswire/ — Altair, a global leader in computational intelligence, has signed a memorandum of understanding (MoU) with the Georgia Institute of Technology to drive aerospace innovation. Within the agreement, Georgia Tech’s Aerospace Systems Design Laboratory will receive unlimited access to Altair resources to support advanced research and projects aligned to building technology demonstrators with simulation and DA software. Together, the two organizations will explore how simulation, data analytics, and artificial intelligence (AI) can reshape operations in aviation, maintenance, repair, and overhaul (MRO), space, and robotics applications.

Altair has signed a memorandum of understanding (MoU) with the Georgia Institute of Technology to drive aerospace innovation.
Altair has signed a memorandum of understanding (MoU) with the Georgia Institute of Technology to drive aerospace innovation.

“Altair’s simulation, data, and AI technology already has a game-changing impact on aerospace companies around the world – no matter if they’re a fledgling startup or an established powerhouse,” said Dr. Pietro Cervellera, senior vice president of aerospace and defense, Altair. “We are excited to collaborate with a top-tier university like Georgia Tech to develop even more impactful applications and further strengthen our ties with the global academic and scientific community.”

“Georgia Tech prides itself on being one of the nation’s premier institutions for aerospace engineering. This dedication to excellence is why our Daniel Guggenheim School of Aerospace Engineering was named the nation’s top publicly funded graduate aerospace engineering program,” said Dimitri Mavris, distinguished regents professor in the school and director of ASDL. “Working together with Altair gives us yet another way to harness transformational technology to help our faculty and students break boundaries within aerospace engineering.”

The two organizations will collaborate on projects where Georgia Tech professors, researchers, and doctoral students can use Altair technology to explore innovative ideas and develop breakthrough solutions. The MoU emphasizes collaboration on technology demonstrators that can be showcased to both the commercial and scientific communities, promoting knowledge sharing and enabling the deployment of new applications.

This MoU is yet another example of Altair’s dedication to working with leaders in the aerospace and defense ecosystem to push the limits of computational intelligence. Other industry collaborations – such as those with JetZero and the European Space Agency (ESA) – highlight how Altair works with organizations of all kinds to foster a holistic, interconnected network of innovation throughout the sector.

To learn more about Altair’s aerospace solutions, visit https://altair.com/aerospace. Additionally, Altair will be at the Paris Air Show at booth H155 in Hall 2B. For more information, visit https://web.altair.com/paris-airshow.

About Altair

Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair is part of Siemens Digital Industries Software. To learn more, please visit www.altair.com or sw.siemens.com.

Media contacts

Altair Corporate         

Bridget Hagan         

+1.216.769.2658         

corp-newsroom@altair.com 

     

Altair Europe/The Middle East/Africa 

 Altair Asia-Pacific

Louise Wilce               

 Man Wang

+44 (0)7392 437 635

 86-21-5016635,,825

emea-newsroom@altair.com

apac-newsroom@altair.com

 

 

Canadian Solar Releases 2024 Corporate Sustainability Report

KITCHENER, ON, May 29, 2025 /PRNewswire/ — Canadian Solar Inc. (the “Company” or “Canadian Solar”) (NASDAQ: CSIQ) today announced the release of its 2024 Sustainability Report. This report highlights the Company’s sustainability strategy and performance, including progress towards achieving its sustainability goals.

The sustainability disclosures in this report are aligned with global standards set by the SASB (the Sustainability Accounting Standards Board) and Global Reporting Initiative (GRI), with reference to the IFRS (the International Financial Reporting Standards) set by the ISSB (International Sustainability Standards Board). The full report is available here

Highlights of the report include the following:

  • Notable progress in reducing the Company’s environmental footprint: In 2024, Canadian Solar lowered GHG emissions, energy, water, and waste intensities by 54%, 37%, 75%, and 53%, respectively, compared to 2017 levels. These achievements were driven by the enhanced production efficiency, implementation of robust energy and water conservation programs, as well as the increases in the power output of its solar modules. The Company also continues to align its operations with circular economy principles, increasing total recycled and reused waste to 94% in 2024 from 88% in 2023, while maintaining 100% recycling or reuse of packaging materials used during its production processes.
  • Ethical business conduct across the Company’s own operations and supply chain: To ensure alignment with global standards on labor practices, environmental, health and safety, and business ethics, Canadian Solar engages with the Responsible Business Alliance (RBA) to conduct Validated Assessment Program (VAP) audits at its facilities. Building on the success of the 2023 audit of Canadian Solar’s Thailand module facility, where it achieved a Silver-level recognition, the Company earned another Silver-level recognition under the RBA VAP in 2025 for its solar cell factory in Suqian, Jiangsu Province, China. Beyond its own facilities, two of Canadian Solar’s polysilicon suppliers in Qinghai Province, China, initiated RBA VAP audits at the Company’s request.
  • Enhanced transparency and depth of disclosures: Canadian Solar has further enhanced the transparency and comprehensiveness of its greenhouse gas (GHG) emissions reporting by disclosing all relevant scope 3 categories in alignment with the GHG Protocol. The Company has set the environmental targets for its battery energy storage business for the first time. To align the Company’s sustainability strategy with stakeholder expectations, Canadian Solar’s subsidiaries CSI Solar and Recurrent Energy have each conducted an in-depth Double Materiality Analysis.
  • Further strengthened external recognitions: Canadian Solar has achieved elevated ratings from international third-party agencies. In 2025, the Company’s ISS ESG rating increased to B+, up from B in 2024. Additionally, its CDP climate change score advanced to B for the 2024 questionnaire, compared to C in 2023. Canadian Solar maintained its Silver rating with EcoVadis, while further enhancing its score to industry top 4% in 2025, up from top 5% in 2024.

Ms. Hanbing Zhang, Chief Sustainability Officer of Canadian Solar, commented, “We are delighted to announce the release of our 2024 Sustainability Report, which underscores our commitment to embedding sustainability across our operations and value chain. This year’s achievements, from reducing our environmental footprint to fostering a creative, engaged workforce and maintaining a responsible supply chain, demonstrate how sustainability is driving meaningful value for our business. As we look ahead, we remain unwavering in our pursuit of transparency, while working closely with our stakeholders for continuous improvement.”

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, added, “At Canadian Solar, we recognize that sustainable business practices are not merely a responsibility, but a strategic imperative for enduring success. I am proud of our team’s achievements as we advance toward our sustainability goals. Our mission is to power the world with solar energy and create a better and cleaner Earth for future generations. To realize this, we will continue to drive meaningful progress by embedding technological innovation, environmental stewardship, social responsibility, and ethical governance across our businesses and value chain.”

About Canadian Solar Inc.

Canadian Solar is one of the world’s largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 157 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 11 GWh of battery energy storage solutions to global markets as of March 31, 2025, boasting a $3.2 billion contracted backlog as of March 31, 2025. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 11.6 GWp of solar power projects and 4.5 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 27 GWp of solar and 76 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements 

Certain statements in this press release, including those regarding the Company’s expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as “may”, “will”, “expect”, “anticipate”, “future”, “ongoing”, “continue”, “intend”, “plan”, “potential”, “prospect”, “guidance”, “believe”, “estimate”, “is/are likely to” or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company’s filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 30, 2025. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com