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Stoke Space Announces $100 Million in New Investment

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The Series B Funding brings Stoke’s Total Investment to $175 million.
Investment to Fund Further Development of its Fully Reusable Rocket and New Construction at Launch Complex 14 at Cape Canaveral Space Force Station, Fla.

DALLAS, Oct. 5, 2023 /PRNewswire/ — Stoke Space, the rocket company building the world’s most efficient fully and rapidly reusable rocket, announced today $100 million in new Series B investment to drive continued growth and innovation. This investment more than doubles the company’s total funding, which now sits at $175 million. The company also announced the official name of its first rocket: Nova.

“This new round of funding is a huge vote of confidence in our team,” said Andy Lapsa, CEO and Co-Founder, Stoke Space.

The funding round was led by Industrious Ventures with participation from the University of Michigan, Sparta Group, Long Journey, and others. Existing investors Breakthrough Energy, YCombinator, Point72 Ventures, NFX, MaC Ventures, Toyota Ventures, and In-Q-Tel also participated. This latest funding round is evidence of strong demand for Stoke’s services, its growing success, and the confidence of investors in its future. As part of this round of fundraising Steve Angel, Chairman of the Board, Linde plc, will join Stoke’s Board of Directors. Angel is also the former CEO of Linde and a member of the Board of Directors of GE.  “Stoke Space has a track record that speaks for itself,” Angel said. “I look forward to working alongside the team in order to support the development of a new space economy.”

Stoke intends to use the funding to finance the development of its first stage rocket engine and structure, the orbital version of its reusable second stage, and new construction at the historic Launch Complex 14 at Cape Canaveral Space Force Station, Fla. Launch Complex 14 is most well known as the launch site of NASA’s Mercury-Atlas 6 flight in 1962, piloted by NASA Astronaut John Glenn as part of NASA’s Project Mercury. Glenn was the first American to orbit the Earth. Stoke has been granted dedicated use of Launch Complex 14 by the US Space Force for its orbital flights.

“With our unique second stage design, our team at Stoke is attempting to build the most robust fully reusable rocket in the world – one that turns around in 24 hours throughout a long service life,” said Andy Lapsa, CEO and Co-Founder, Stoke Space. “This new round of funding is a huge vote of confidence in our team and the progress we’ve made,” Lapsa added. “We will now continue moving through our development program by increasing focus on our reusable first stage.”

In addition to announcing new funding in Stoke, Lapsa revealed the name of the company’s rocket: Nova. The term “nova” refers to an astronomical event in which a new star is born from the combination of remnants of old stars, “Our vehicle designs build on the ideas and achievements of prior generations. The name Nova is a way to honor that past heritage while looking ahead to a very exciting future,” Lapsa explained.

Lapsa made today’s announcements during remarks delivered at the UP.Summit in Dallas, an invitation-only gathering of 250 of the world’s most innovative minds rethinking the future of transportation. Investors in attendance represent over $1T worth of investable capital.

The investment comes on the heels of the company’s successful vertical takeoff and vertical landing (VTVL) developmental test flight of its reusable second stage conducted Sept. 17 at Stoke’s testing facility in Moses Lake, Wash. The test successfully demonstrated Stoke’s novel hydrogen/oxygen engine, regeneratively cooled heat shield, and differential throttle thrust vector control system, as well as its avionics, software, and ground systems.

About Stoke Space

Stoke is scaling the space economy by providing low-cost, on-demand transport to, through, and from space. It’s developing fully and rapidly reusable rockets and space vehicles designed to operate with aircraft-like frequency. Stoke’s technology development has been funded by the U.S. Space Force, NASA, the National Science Foundation, and other government and private partners.

About UP.Summit

UP.Summit is an annual, invitation-only gathering of the world’s most innovative minds rethinking the future of transportation. Some of the most impactful investors, entrepreneurs, and leaders in policy, defense, transportation and mobility companies gather at the summit each year with the goal of moving people and goods in cleaner, faster, safer, and at lower-cost ways – on the ground, in the air, on the sea, and in space. UP.Summit was founded in 2017 and is jointly organized by UP.Partners, Tom and Steuart Walton, and Ross Perot Jr.

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SOURCE Stoke Space Technologies, Inc.

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Empowering India’s Future: Sungrow Drives Environmental Action and Community Growth

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GURUGRAM, India, May 7, 2025 /PRNewswire/ — Sungrow, the global leading PV inverter and energy storage system provider, is reinforcing its commitment to environmental stewardship and rural development through its flagship tree plantation initiative. This program forms an integral part of the company’s broader mission to drive sustainable growth across India.

Restoring Green Cover, Reviving Livelihoods

Since 2021, Sungrow India has collaborated with the Sankalp Taru Foundation to implement the Rural Livelihood Plantation Program, promoting sustainable agroforestry practices among underserved farming communities. Over the past four years, the initiative has resulted in the plantation of 7,462 trees across 16 Indian states, focusing on fruit-bearing species that enrich biodiversity while providing long-term income opportunities for farmers.

In FY2024–25, an additional 2,400 saplings were planted. These trees are projected to sequester over 1,000 tonnes of CO₂, generate more than 2,100 tonnes of oxygen, and produce approximately 50 tonnes of fruit annually, directly benefiting farming households. The program’s estimated economic impact exceeds INR 4 million, showcasing its dual benefit for the environment and rural livelihoods. “Our partnership with Sankalp Taru is a testament to how clean energy companies can drive ecological restoration while directly supporting rural communities,” said Sunil Badesra, Country Head of Sungrow India.

Empowering Education Through Clean Energy

In addition to its environmental efforts, Sungrow India is advancing access to education and clean energy through a series of impactful community programs:

This March, the company partnered with the Energy Swaraj Foundation to distribute 200 solar-powered study lamps to students in off-grid areas of rural Maharashtra, supporting uninterrupted evening study and eliminating dependence on kerosene lighting.In collaboration with Enerbiz and the Asha Deep Foundation, Sungrow helped install a 20kW rooftop solar plant at a school for underprivileged children in Ghaziabad, Uttar Pradesh, reducing electricity costs and fostering awareness of renewable energy.The company also hosted a solar masterclass at the TERI School of Advanced Studies in New Delhi, offering graduate students practical insights into solar plant design, inverter technology, and India’s clean energy transition.

Looking Ahead: Powering a Greener, Inclusive Future

“Our work goes beyond technology—it’s about nurturing ecosystems, supporting livelihoods, and growing together with the communities we serve,” said Sunil Badesra. “We believe in a future where clean energy and shared prosperity go hand in hand, and we are proud to play our part in making that future a reality.”

With every tree planted, every student supported, and every village empowered, Sungrow India is lighting the path toward a greener, more inclusive India.

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 28 years. As of December 2024, Sungrow has installed 740 GW of power electronic converters worldwide. The Company is recognized as the world’s No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the world’s most bankable energy storage company (BloombergNEF). Its innovations power clean energy projects in over 180 countries, supported by a network of 520 service outlets guaranteeing excellent customer experience. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit: www.sungrowpower.com.

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SOURCE Sungrow

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NetDragon Participates in Digital China Summit for the 8th Consecutive Year, Pioneering AI-Driven Innovation in Gaming and Education

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HONG KONG, May 7, 2025 /PRNewswire/ — NetDragon Websoft Holdings Limited (“NetDragon” or the “Company”; Hong Kong Stock Code: 0777), a global leader in building internet communities, is pleased to announce its participation in the 8th Digital China Summit, recently held in Fuzhou, Fujian Province. As a participant for the eighth consecutive year, NetDragon showcased its latest advancements under its core strategies of “AI + Gaming” and “AI + Education.” By responding to the “Digital China” strategy, NetDragon continues to leverage AI to empower the gaming, cultural tourism, and education industries, contributing to the high-quality development of the digital economy.

At the summit, NetDragon demonstrated the integration of technology and culture through innovative digital cultural-tourism projects. Among the highlights was the “Fantasy Ride Wuyi•Nine-Bend Roaming” VR horse-riding simulator, which utilizes cutting-edge digital scanning, drone technology, 3D modeling, and Unreal Engine technology to recreate the iconic landscapes of Wuyi Mountain, including Nine-Bend Stream and Dawang Peak. This immersive VR experience allows visitors to explore the scenic beauty of the ancient Tea Route. This project is also part of the “Digital Shanhai: Reimagining Fujian Tourism through Games” initiative, co-launched with Xinhua News and Information Center and other partners, to promote Fujian’s tourism through gamification. Additionally, NetDragon introduced “Fubao,” an AI-powered digital character representing Fujian’s “Fu (Fortune)” culture. Fubao, along with the Company’s virtual CEO Tang Yu, made their debut as “AI tourism ambassadors,” engaging attendees in real-time Q&A about Fujian’s tourism attractions and unique culture. This demonstration underscores NetDragon’s expertise in AI-driven content generation and gamified interactive experiences, creating value through the synergy of gaming and cultural tourism.

In the education sector, NetDragon unveiled its vision for future learning with the intelligent education service institution EDA and the self-learning tool “Future Lab,” reinforcing its vision of a personalized, global learning ecosystem. EDA leverages advanced AI technologies to deliver customized learning experiences, spanning across the full spectrum of lifelong learning. “Future Lab,” as part of the EDA ecosystem, aims to provide immersive learning experiences for middle and high school students in subjects such as math, physics, and chemistry. NetDragon is also advancing the development of “interactive educational games” that prioritize learner-driven engagement and immersive learning, redefining traditional teaching methodologies, and enriching EDA with high-quality content.

In recent years, NetDragon has advanced its strategy of integrating education and industry by expanding its vocational education efforts internationally and nurturing eSports talent. During the summit, NetDragon co-hosted a ChinaThailand collegiate eSports friendship match with Fuzhou Software Technology Vocational College (FSTVC), providing a platform for cultural exchange while demonstrating NetDragon’s innovative approach to exporting vocational education services. Through its industry-education integration model and joint programs, FSTVC is exploring new revenue streams. Notably, NetDragon’s vocational education project in Thailand was included in the “Thousand Sails Going Global” initiative in 2024, led by China’s Ministry of Commerce together with five other ministries, marking a significant milestone in the Company’s global industry-education integration efforts.

In collaboration with Rokid, NetDragon also showcased its AI + AR innovations at the summit. By integrating “Fubao” into Rokid’s AR glasses, attendees were able to explore virtual experiences of Wuyi Mountain, digital art galleries, and polar molecular structures. Rokid, a key strategic investment project of NetDragon, specializes in developing AR hardware and software ecosystems. NetDragon is building an “AI + AR” content ecosystem, leveraging AR applications across gaming, education, and tourism to create immersive digital experiences.

As part of its ongoing commitment to the “Digital China” initiative, NetDragon continues to expand its “Digital Smart+” innovation approach, promoting the integration of digital technologies across the economic, cultural, social, and ecological development. Looking ahead, NetDragon is committed to working with global partners in education, cultural tourism, and digital creativity to drive further growth in the digital economy and contribute to the development of new digital economic advantages.

About NetDragon Websoft Holdings Limited 

NetDragon Websoft Holdings Limited (HKSE: 0777) is a global leader in building internet communities with a long track record of developing and scaling multiple internet and mobile platforms that impact hundreds of millions of users, including previous establishments of China’s first online gaming portal, 17173.com, and China’s most influential smartphone app store platform, 91 Wireless.  

Established in 1999, NetDragon is one of the most reputable and well-known online game developers in China with a history of successful game titles including Eudemons Online, Heroes Evolved, Conquer Online and Under Oath. In the past 10 years, NetDragon has also achieved success with its online education business both domestically and globally, and its overseas education business entity, currently a U.S.-listed subsidiary named Mynd.ai, is a global leader in interactive technology and its award-winning interactive displays and software can be found in more than 1 million learning and training spaces across 126 countries. 

For investor enquiries, please contact:
NetDragon Websoft Holdings Limited
Ms. Maggie ZhouSenior Director of Investor Relations
Email: maggiezhou@nd.com.hkir@netdragon.com
Website: ir.netdragon.com   

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SOURCE NetDragon Websoft Holdings Limited

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THE GLOBAL CAPACITY BUILDING COALITION LAUNCHES ACCELERATOR AT ECOSPERITY TO SPOTLIGHT AND SCALE CLIMATE FINANCE CAPACITY BUILDING INITIATIVES

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The inaugural GCBC Accelerator will provide high-potential projects with access to expert advisory, networks, and resources to scale solutions that work to accelerate investment in the transition in EMDEs

SINGAPORE, May 6, 2025 /PRNewswire/ — Today at the Ecosperity Week 2025, Mary L. Schapiro, Chair of the Global Capacity Building Coalition (GCBC), announced the launch of the GCBC Accelerator, a global initiative that will identify, celebrate, and support high potential capacity building projects that mobilize sustainable finance to help bridge the investment and capacity gap in emerging markets and developing economies (EMDEs).

The Accelerator, open to organizations, partnerships, or programs dedicated to building capacity in or for EMDEs, presents an exciting new opportunity for applicants to showcase their efforts supporting the development of climate finance needed to scale the energy transition. Applicants will be able to enter across three distinct categories: mobilizing sustainable finance, building climate capabilities, and fostering innovation.

EMDEs, excluding China, face a nearly $2.5 trillion annual financing gap for sustainable development. Around half of this finance is expected to come from domestic resource mobilization, presenting a transformative opportunity for growth. Strengthening the capacity of financial institutions and professionals in local economies is a critical lever to unlock investment potential. Today, capacity building resources needed to scale the energy transition and sustainable development can often be fragmented, difficult to access, and unevenly targeted. The Accelerator seeks to address these barriers by spotlighting and supporting the world’s most innovative and impactful capacity building initiatives that help channel capital where it’s needed most.

Mary Schapiro, Chair of the Global Capacity Building Coalition and Vice Chair of the Glasgow Financial Alliance for Net Zero (GFANZ) said, “Emerging markets and developing economies need access to the tools, resources, and support necessary to accelerate the clean energy transition. This Accelerator program is designed to identify and scale innovative efforts that support capacity-building, drive economic opportunity, and help build more resilient, sustainable economies. The GCBC is excited to elevate financial institutions, civil society organizations, and others that are engaging in this critical work.”

The GCBC will provide tailored support for selected Accelerator initiatives, including expert advisory, communications and marketing support, partnership facilitation, as well as practical and operational support for capacity building activities. The GCBC will announce selected applicants at New York Climate Week in September 2025. By recognizing these capacity building efforts within the climate finance ecosystem and supporting them to scale and replicate, the Accelerator aims to help organizations and individuals unlock opportunities and accelerate investment in the transition across EMDEs.

Full information on the Accelerator is available here. Applications close at 11:59 PM ET on July 4, 2025.

About the Global Capacity Building Coalition (GCBC)
The Global Capacity Building Coalition (GCBC) is an unprecedented global initiative. It brings together many of the world’s leading climate finance organizations to accelerate and scale climate and transition finance capacity building for financial institutions and finance professionals, particularly in emerging markets and developing economies (EMDEs). The Coalition is designed to enhance collaboration and respond to growing requests for capacity building support from financial institutions in EMDEs to meet the aims of the UN and the G20 Sustainable Finance Working Group (SFWG).

The GCBC was launched by the U.N. Secretary-General’s Special Envoy on Climate Ambition and Solutions Michael R. Bloomberg, alongside senior leaders of multilateral development banks, finance, and international organizations at COP28 in December 2023. 

To express interest in joining the Global Capacity Building Coalition, or supporting its work in other ways, contact secretariat@capacity-building.org

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