Day: October 26, 2022

Posted on

AZRE FINAL DEADLINE MONDAY: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Azure Power Global Limited Investors to Secure Counsel Before Important October 31 Deadline in Securities Class Action – AZRE

NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Azure Power Global Limited (NYSE: AZRE) between June 15, 2021 and August 26, 2022, both dates inclusive (the “Class Period”), of the important October 31, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Azure Power securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Azure Power class action, go to https://rosenlegal.com/submit-form/?case_id=8433 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 31, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose material adverse facts about Azure Power’s business operations and prospects. Specifically, defendants  failed to disclose to investors that: (1) there were procedural irregularities, including deviations from safety and quality standards, at one of Azure Power’s plants; (2) certain project data was manipulated; (3) as a result of the foregoing, Azure Power’s internal controls and procedures were not effective; (4) Azure Power had received a credible whistleblower report alleging such misconduct; and (5) as a result of the foregoing, defendants’ positive statements about Azure Power’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Azure Power class action, go to https://rosenlegal.com/submit-form/?case_id=8433 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8682142

Posted on

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Block, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – SQ

NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Block, Inc. (NYSE: SQ) between November 4, 2021 and April 4, 2022, both dates inclusive (the “Class Period”), of the important December 12, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Block securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Block class action, go to https://rosenlegal.com/submit-form/?case_id=9176 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 12, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Block lacked adequate protocols restricting access to customer sensitive information; (2) as a result, a former employee was able to download certain reports of Block’s subsidiary, Cash App Investing, containing full customer names and brokerage account numbers, as well as brokerage portfolio value, brokerage portfolio holdings and/or stock trading activity; (3) as a result, Block was reasonably likely to suffer significant damage, including reputational harm; and (4) as a result of the foregoing, defendant’s positive statements about Block’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Block class action, go to https://rosenlegal.com/submit-form/?case_id=9176 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8682002

Posted on

ABT FINAL DEADLINE MONDAY: GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages Abbott Laboratories Investors to Secure Counsel Before Important October 31 Deadline in Securities Class Action – ABT

NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Abbott Laboratories (NYSE: ABT) between February 19, 2021 and June 8, 2022, both dates inclusive (the “Class Period”), of the important October 31, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Abbott securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Abbott class action, go to https://rosenlegal.com/submit-form/?case_id=8453 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 31, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) according to the U.S. Food and Drug Administration (“FDA”), Abbott had “egregiously unsanitary” conditions at its Sturgis, Michigan facility which produced nearing half of Abbott’s various forms of infant formula under the brands Similac, Alimentum, and EleCare; (2) as a result, Abbott’s infant formula business was in dire jeopardy given the flagrant violations of federal and state health and safety regulations; (3) based on inspections by the FDA between 2019 and 2022, Abbott failed to establish process controls “designed to ensure that infant formula does not become adulterated due to the presence of microorganisms in the formula or in the processing environment” and Abbott also failed to “ensure that all surfaces that contacted infant formula were maintained to protect infant formula from being contaminated by any source”; (4) the unhygienic conditions of the Sturgis facility resulted in the recall of Abbott’s infant formula and closure of the Sturgis facility; and (5) as a result, defendants’ public statements about Abbott’s business, operations, and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Abbott class action, go to https://rosenlegal.com/submit-form/?case_id=8453 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8681996

Posted on

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Opendoor Technologies Inc. f/k/a Social Capital Hedosophia Holdings Corp. II Investors to Secure Counsel Before Important Deadline in Securities Class Action – OPEN

NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers and acquirers of the securities of Opendoor Technologies Inc. f/k/a Social Capital Hedosophia Holdings Corp. II (NASDAQ: OPEN): (i) between December 21, 2020 and September 16, 2022, both dates inclusive (the “Class Period”); and/or (ii) pursuant and/or traceable to the offering documents issued in connection with the business combination between the Social Capital Hedosophia Holdings Corp. II and Opendoor Labs Inc. completed on or about December 18, 2020 (the “Merger”) of the important December 6, 2022 lead plaintiff deadline.

SO WHAT: If you acquired Opendoor securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Opendoor class action, go to https://rosenlegal.com/submit-form/?case_id=9133 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the offering documents for the Merger were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation.  Additionally, according to the lawsuit, throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects.  Specifically, the offering documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) the algorithm (“Algorithm”) Opendoor used to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (2) as a result, Opendoor was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (3) accordingly, defendants overstated the purported benefits and competitive advantages of the Algorithm; and (4) as a result, the offering documents and defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Opendoor class action, go to https://rosenlegal.com/submit-form/?case_id=9133 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8682177

Posted on

LTCH MONDAY DEADLINE: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Latch, Inc. Investors With Losses to Secure Counsel Before Important October 31 Deadline in Securities Class Action – LTCH, LTCHW

NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Latch, Inc. (NASDAQ: LTCH, LTCHW) between May 13, 2021 and August 25, 2022, both dates inclusive (the “Class Period”), of the important October 31, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Latch securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Latch class action, go to https://rosenlegal.com/submit-form/?case_id=8369 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 31, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose material adverse facts about Latch business operations and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) there were unreported sales arrangements related to hardware devices; (2) as a result, Latch had improperly recognized revenue throughout fiscal 2021 and first quarter 2022; (3) there were material weaknesses in Latch’s internal control over financial reporting related to revenue recognition; (4) as a result of the foregoing, Latch would restate financial statements for fiscal 2021 and first quarter 2022; and (5) as a result of the foregoing, defendants’ positive statements about Latch’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Latch class action, go to https://rosenlegal.com/submit-form/?case_id=8369 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8682185

Posted on

‫فازت ZTE بـ “حالة استخدام تقطيع الشبكة الأكثر ابتكارًا” و “مشروع الشبكة الخاصة الأكثر ابتكارًا” في Network X 2022

شنتشن، الصين، 26 أكتوبر 2022 / PRNewswire / — شركة ZTE Corporation (0763.HK / 000063.SZ) ، المزود العالمي الرائد لحلول تكنولوجيا المعلومات والاتصالات، أعلنت اليوم أنها فازت بـ “حالة استخدام تقطيع الشبكة الأكثر ابتكارًا” وجائزة “مشروع الشبكة الخاصة الأكثر ابتكارًا” في Network X 2022 الذي عقد في أمستردام، هولندا.

 حصلت كل من China Mobile و ZTE’s SPN (FGU) على وحدة التحبيب الدقيقة والتسويق التجاري على جائزة “حالة استخدام تقطيع الشبكات الأكثر ابتكارًا”

تطلب خدمة الإنتاج العمودية الصناعية وشرائح الخطوط الخاصة عالية الجودة عرض نطاق ترددي صغير ولكن أداء عالٍ، وتطلب زمن انتقال محدد، وعزلًا صلبًا، ونقلًا عالي الموثوقية. ومع ذلك، لا يمكن لشبكة إيثرنت التقليدية التي تستخدم إعادة توجيه بأفضل الجهود تلبية هذه المطالب.

 دخلت China Mobile في شراكة مع ZTE لاقتراح SPN (Slicing Packet Network) لإدخال التقطيع الصلب الهرمي إلى Ethernet لأول مرة. مع تقليل الدقة من 5 جيجابت في الثانية إلى 10 ميجابت في الثانية، يدعم SPN التوافق الأمامي بالإضافة إلى أنبوب النقل الدقيق القابل للتطوير. في الوقت نفسه، يرتبط بخدمات MPLS VPN و SRv6 لضمان خسارة الحزمة الصفرية من طرف إلى طرف ويوفر إعادة توجيه مع زمن انتقال محدد وعزل مادي على مستوى الدائرة، وذلك لبناء شبكة واحدة لأغراض مختلفة. توفر هذه الشبكة خدمة نقل متباينة مع عرض نطاق ترددي مرن وعزل مادي وزمن انتقال محدد لشبكات الجيل الخامس الخاصة والخطوط الخاصة للمؤسسات.

حصلت شركة ZTE و China Mobile و E2E 5G TSN للشبكة الخضراء من NR Electric على جائزة “مشروع الشبكة الخاصة الأكثر ابتكارًا”

في مجال شبكة الطاقة، يعد الاستخدام الفعال للطاقة الجديدة النظيفة مثل طاقة الرياح والطاقة الشمسية وسيلة فعالة لتحقيق هدف أخضر ومنخفض الكربون. ومع ذلك، تتأثر طاقة الرياح والطاقة الشمسية بسهولة بالطقس والمناطق، وهما غير مستقرين. مطلوب قياس دقيق وتحكم وتفاعل في الوقت الحقيقي. لا يمكن لآلية شبكة المحمول التقليدية تلبية متطلبات الشبكة الصارمة لصناعة الطاقة.

أصدرت ZTE حل Time Promised Communication الذي يدمج التحكم الدقيق 5 G TSN / 5G LAN / URLLC / SLA المتعلق بالشبكات الحساسة للوقت على النحو المحدد في 3GPP الإصدار 16. يجمع حل TPC بين البرامج والأجهزة لحل زمن انتقال الشبكة والارتعاش الناجم عن تعارضات حركة المرور وتداخل الاتصالات بشكل فعال. يتم دمجه مع تقنية التقطيع لتقليل زمن انتقال 5G من طرف إلى طرف، مما يضمن تحديد شبكة الاتصالات. بدلاً من الكابلات الضوئية، يتيح حل TPC الوصول المرن إلى الميل الأخير، مما يقلل بشكل كبير من تكاليف إنشاء شبكة الاتصالات. إنه يسرع نشر الطاقة الجديدة مثل الطاقة الشمسية وطاقة الرياح، ويساعد صناعة الطاقة على تحقيق الأهداف الإستراتيجية لذروة الكربون وحيادية الكربون.

 تُقام جوائز Network X لعام 2022 من قبل Informa ، وهي مجموعة من الفعاليات الدولية الرائدة والخدمات الرقمية والمعرفة الأكاديمية، لتكريم الإنجاز والابتكار والتميز في صناعة الاتصالات. تجمع Network X هذا العام بين 5G World و BBWF (المنتدى العالمي للنطاق العريض) و Telco Cloud التي تم إطلاقها حديثًا لتجمع بين الأسواق الثابتة والمتنقلة في مكان واحد.

للتواصل الإعلامي:

مارغريت ما
شركة ZTE
هاتف:‎+86 755 26775189
بريد إلكتروني:   [email protected]

Posted on

65 Equity Partners Invests $150 Million in Cityneon: Group to Rebrand to Neon

SINGAPORE, Oct. 26, 2022 /PRNewswire/ — Cityneon Holdings (“Cityneon”, the “Company”/collectively with its subsidiaries, the “Group”), welcomes a fresh investment of S$150 million from 65 Equity Partners, an independently managed investment firm wholly-owned by Temasek Holdings. Cityneon concluded a round of private funding that raised S$235 million last April, and the collective funds raised will be utilized to further strengthen the Group’s growth trajectory and aspirations.

65 Equity Partners Logo and neon Logo

65 Equity Partners now joins existing major institutional investors and shareholders – CITIC Capital, Pavilion Capital, EDBI, Qatar’s Doha Venture Capital, and SeaTown Holdings International, veteran entrepreneur and investor Mr. Johnson Ko, as well as Executive Chairman & Group CEO Mr. Ron Tan, to form a new and strong investor base for the Group’s future.

“We are excited to partner Cityneon’s management team in its next phase of growth. Cityneon has a unique franchise, which provides IP-based immersive entertainment where it has built a leading position globally supported by a portfolio of high quality IPs. This investment aligns strategically with our mandate of supporting high growth, leading businesses led by founders and entrepreneurs, to help them scale and fulfil their growth aspirations, as well as facilitating their eventual public listing” said Tan Chong Lee, Chief Executive Officer of 65 Equity Partners.

The funds raised will be strategically channeled towards the Group’s growth strategies globally, including expanding into new markets, acquiring of new intellectual property (“IP”), building up technological capabilities via the Company’s in-house R&D department, establishing new and profitable lines of businesses, and shoring up its balance sheet.

Credit Suisse acted as the Company’s sole financial advisor in this transaction.

Rebranding to NEON

The desire to rebrand Cityneon was driven by the Group’s enhanced vision to be the global leader in immersive entertainment while maintaining the link to its 65 years of legacy. The word “NEON” stems from the Greek word, “neos”, which means “new”, and staying true to its meaning, NEON will strive to always be relevant, offering new, exciting and epic experiences for fans and families around the world.

Executive Chairman and Group CEO of Cityneon, Mr. Ron Tan said, “This successful round of funding is a testament of the confidence in the Group and affirms our trajectory of growth as a global leader in creating unique, immersive experiences for audiences worldwide. With the support of 65 Equity Partners, and our strong stable of existing shareholders, we are excited about future opportunities as we continue to strengthen our capabilities and expand the reach of our portfolio of IP experiences to accelerate growth into 2023 and beyond.

Our rebranding into NEON, encompasses our vision of the convergence of the physical and digital space, transcending geographical limitations and creating a fully integrated global experience for our visitors.”

New Chapter of Growth

Emerging from COVID-19 and with a stronger balance sheet from the capital raised over the last two years, the Company is ready for a new chapter of growth in 2023 and beyond.

The Group recently expanded into new markets and experiences, working with the governments of Peru and Egypt to present two Original Artefact IP Experiences – Machu Picchu and the Golden Empires of Peru and Ramses the Great and the Gold of the Pharaohs, showcasing authentic historical artefacts to audiences in major cities around the world as well as signing two new global IPs with Warner Bros. Themed Entertainment and entering into a strategic partnership with the Qatar Free Zones. During the year, it also saw strong performance in key exhibitions including the Jurassic World: The Exhibition in London, Ramses the Great and the Gold of the Pharaohs in San Francisco, and Marvel Avengers S.T.A.T.I.O.N. in Chile and Tokyo.

Exciting projects on the horizon include the world debut of Avatar: The Experience at the iconic Cloud Forest at Gardens by the Bay, Singapore on 28th October 2022, and Jurassic World: The Exhibition which will be launched in Japan in Spring 2023, and many more.

About Cityneon Holdings

Cityneon is a global leader in immersive experiences that holds global partnerships with billion-dollar studios such as The Walt Disney Company and Marvel Entertainment for Marvel Avengers S.T.A.T.I.O.N. and Marvel Avengers Station: Evolution and 20th Century Studios for AVATAR: The Exhibition, Hasbro for Transformers: The Experience, NBCUniversal for Jurassic World: The Exhibition, and Lionsgate for The Hunger Games: The Exhibition. It also has a partnership with Warner Bros. Themed Entertainment to produce two brand-new, unique global touring themed art experiences inspired by DC and the Wizarding World, slated to launch in 2023. The Company also partners with the governments of Peru and Egypt for their original artifact IP experiences, Machu Picchu and the Golden Empires of Peru and Ramses the Great and the Gold of the Pharaohs respectively, plus original artifact tours Pompeii: The Exhibition, Mummies of the World: The Exhibition and Victoria the T. Rex. These partnerships have enabled the Group to bring compelling experiences that leave lasting memories to visitors in more than 50 cities to date globally. For more information, please visit www.cityneongroup.com.

About 65 Equity Partners

65 Equity Partners is an independently managed wholly-owned investment platform of Temasek which focuses on providing equity and structured capital solutions to leading companies with growth aspirations, in Southeast Asia, Europe and the United States. In Singapore, the strategy of 65 Equity Partners is to provide capital solutions to local enterprises with fundamentally sound businesses to help them expand regionally or transform strategically. 65 Equity Partners will also invest in leading companies and new economy businesses in Singapore and the region, ahead of their eventual listing in Singapore. For more information, please visit www.65equitypartners.com.

For Investor Relations/Media inquiries, please contact:

Wong Yi Lin
Group Head, Corporate Relations
Cityneon Holdings
Tel: +65 6571 6338
Email: [email protected]

Logo – https://mma.prnewswire.com/media/1929804/65_Equity_Partners_neon.jpg
Logo – https://mma.prnewswire.com/media/1916779/Color_logo_white_Logo.jpg

 

Posted on

The Indonesia Ministry of SOEs Supports PLN’s Breakthrough to Accelerate the Clean Energy Transition in Indonesia

JAKARTA, Indonesia, Oct. 26, 2022 /PRNewswire/ — PT PLN (Persero) today reaffirmed its committed to support the Indonesian government’s program to achieve the Net Zero Emission target by 2060 through various strategies, such as the development of new and renewable energy (RE)-based power plants, dieselization programs, and the retirement of steam power plants (PLTU).

Vice Minister of State-Owned Enterprises (BUMN) Pahala N. Mansury outlined how the Ministry strongly supports the efforts of PLN in achieving net zero emissions by 2060 and supports low-carbon development based on the Paris Agreement goals to reduce greenhouse gas emissions based on the National Determined Contribution (NDC) of up to 29 percent, as it is stated at the COP26 2021 meeting.

“PLN is committed to decarbonization, such as accelerating the stopping of the use of Coal Fired Power Plant (CFPP) assets, and new renewable energy programs by developing eco-friendly power plants to increase the level of NRE in the energy mix,” explained Pahala.

The President Director of PLN Darmawan Prasodjo welcomes the government’s support to make the energy transition successful, especially to follow the NZE 2060 target. Since 2021, PLN has prepared a roadmap which was presented at the COP26 Summit in Glasgow. This means, continued Darmawan, PLN is ready to lead the energy transition in Indonesia.

Darmawan said in the scenario of business as usual (BAU), Indonesia’s carbon emissions are projected to reach more than 4 billion tons of CO2e/year by 2060. There are 2 sectors with a large contribution to Indonesia’s carbon emissions, namely the electricity sector and the transportation sector.

“Without significant efforts, by 2060 the electricity sector will produce CO2e emissions of 920 million tons per year, but the intervention by PLN will prepare Indonesia to be cleaner for future generations,” he said.

To support this plan, PLN has prepared a roadmap for the retirement of steam power plants (PLTU) to achieve Net Zero Emission by 2060. The steps of retiring the coal-fired power plant of 50.1 gigawatts (GW) until 2056 will be carried out gradually, replacing them with RE power plants.

Darmawan stated that the replacement of PLTU and PLTMG with PLT RE Baseload of 1.1 GW will be carried out in 2025. And in 2030, the first phase of PLTU subcritical retirement of 1 GW will be carried out. Then in 2035, the PLTU subcritical phase 2 will retire at 9 GW. Then in 2040, PLN will operate a supercritical PLTU with a CCUS of 10 GW.

In 2045, the Ultra Super Critical PLTU will be operated by the use of CCUS (carbon capture storage) technology of 24 GW. Furthermore, in 2055, the Ultra Supercritical PLTU with the last CCUS of 5 GW will be operated.

Besides reducing the number of PLTUs, PLN is also conducting a de-dieselization program of 5,200 PLTDs in Indonesia. PLN replaces it with an RE generator based on local natural potential. Currently, the PLTD owned by PLN which will be converted to an RE power plant is around 499 MW. It will be carried out in two steps, namely Phase I in 183 locations with a capacity of 212 MW with a hybrid scheme (PLTS+Baterai+PLTD existing). As a second phase, the conversion of PLTD with a capacity of 287 MW to other RE power plants will be carried out, considering local RE sources.

“This is a big change as it converts import-based energy into cheaper domestic-based energy,” he said.

Instead, PLN will also develop an NRE-based power plant of 20.9 GW by 2030. The addition of NRE capacity is a combination of several NRE sources with a composition of 10.3 GW of hydro power (PLTA), and 10.3 GW of solar power (PLTS). 4.7 GW, geothermal power plants (PLTP) of 3.3 GW, and other RE PLTs of 2.5 GW.

PLN also innovates on the biomass co-firing program in PLTU, through the substitution of coal with biomass partially to increase the NRE mix and reducing carbon emissions. “This is a social-based energy ecosystem because the supply of biomass will be run in collaboration of all social elements,” he said. The trial implementation of the co-firing program at PLN’s PLTU starting in 2020 has been successfully carried out at 47 PLTU locations.

Darmawan added that PLN cannot achieve NZE in 2060 alone, it needs collaboration with various institutions and also political support from the government. “It takes a very large amount of capital to reach Net Zero Emission 2060 at least USD 500 billion. Therefore, we need to be supported on access to low-cost green financing, development grants and G to G pattern support,” said Darmawan.

To do so, the Ministry of SOEs is not only encouraging PLN to support the NZE effort, but also all SOEs must contribute to the initiative.

“We have to encourage renewable energy; each state-owned company cannot work separately, but must collaborate to ensure that the 2060 NZE occurs. The energy transition must be carried out based on the transformation desired by Indonesia,” said Erick Thohir, Minister of State-Owned Enterprises (SOEs), during the SOE International Conference in Bali (17/10).