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CICE Invests in the Future of Ocean Carbon Dioxide Removal

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11 months ago

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Coastal Carbon and Planetary Technologies to advance ocean-based solutions
 with the potential for gigatonne-scale carbon dioxide removal

VANCOUVER, BC, June 7, 2024 /CNW/ – The B.C. Centre for Innovation and Clean Energy (CICE) is harnessing British Columbia’s vast coastline and ocean science expertise to invest in pilots and field trials aimed at removing carbon dioxide from the atmosphere through ocean-based methods. These projects, led by Planetary Technologies and Coastal Carbon, will evaluate the effectiveness of ocean carbon dioxide removal, and measure the impact on coastal communities and marine environments.

To meet 2050 net-zero targets, achieving breakthroughs in large-scale carbon removal is essential. Oceans, which have the capacity to store about 50 times more carbon dioxide than the atmosphere, are the world’s largest carbon dioxide sink. Ocean-based carbon dioxide removal (CDR) methods enhance the ocean’s natural ability to remove and store carbon dioxide (CO2).  However, to scale these methods safely, further research, pilot projects, and innovation are necessary.

“Scientists estimate that we need to remove at least 10 gigatonnes of carbon dioxide annually by 2050, which is more than the annual production of oil and gas combined,” said Sarah Goodman, President and CEO of CICE. “Ocean-based carbon dioxide removal methods hold enormous potential, but their impact on coastal communities and marine ecosystems must be carefully studied. By investing in early-stage innovation and leveraging British Columbia’s leading research expertise, we aim to support the development of safe, effective, and responsible carbon removal methods.”  

CICE’s investment into ocean-based CDR was underpinned by a techno-economic analysis completed for the “Catalyzing Carbon Dioxide Removal at Scale” report released in February 2024. The report identified that ocean alkalinity enhancement has 10 gigatonnes of global CDR absorption potential per year, more than any other existing CDR method. Based on the report findings, other focus areas for CICE include marine sensing technology, measurement, modeling, and data science.

Coastal Carbon has partnered with Coastal First Nations Great Bear Initiative and Ocean Wise to develop and pilot a remote seaweed biomass monitoring solution critical to the restoration and expansion of seaweed carbon sequestration projects along British Columbia’s 26,000 km of coastline. AI and remote satellite data will be used to scale a cost-effective model to measure where seaweed is and how much of it is there for better management and protection of these ecosystems, as well as carbon offset verification. CICE has allocated $856,000 in non-dilutive investment to this $3,006,930 project.

“This project is the first step in enabling Canada’s coastline, which happens to be the world’s largest, as a nature positive carbon sink – helping offset our emissions and restore our natural coastal ecosystems,” said Thomas Storwick, Co-founder and CEO of Coastal Carbon. “Effective, scalable, remote monitoring is key to enabling carbon financing for this restoration. CICE is helping us take the very first step in BC, enabling us to build and expand our technology in one of the most productive and diverse coastlines in Canada.”

“Satellite monitoring technology has the potential to revolutionize seaweed restoration projects by providing highly accurate measurements and comprehensive mapping of biomass and canopy coverage,” said Scott Bohachyk, Director of Seaforestation at Ocean Wise. “This advancement promises to significantly lower monitoring costs and enhance the precision of ecological assessments, facilitating more effective restoration efforts and improving ocean health.”

Planetary Technologies is combining expertise from Metro Vancouver, Ocean Networks Canada, the University of British Columbia, and other community stakeholders to develop a safe, small-scale ocean alkalinity enhancement field trial in Burrard Inlet. This project will measure the carbon removal and biological changes associated with a novel carbon dioxide removal system that employs ocean outfalls from Metro Vancouver’s Lions Gate Wastewater Treatment Plant to clean up acidic CO2 in the ocean, restoring its natural ability to draw carbon out of the air. Baseline data collection and consultations with British Columbia’s top ocean scientists, academia, the public, the government, and Indigenous rights holders is underway, with the small-scale field trial projected to start in Spring 2025. Data analysis will be published for access by all interested parties. CICE has allocated $1,901,060 in non-dilutive investment to this $3,896,572 project.

“To meet the world’s climate goals, on top of reducing emissions, we must remove massive quantities of carbon from the atmosphere,” said Mike Kelland, CEO at Planetary Technologies. “Our project aims to enhance the ocean’s ability to capture CO2. CICE has assembled a consortium of partners to further Canada’s leadership in safely developing the critically important practice of ocean carbon removal. If successful, we will restore our acidified ocean, draw down CO2 from the air, and create new jobs and opportunities in this emerging trillion-dollar industry.”

About CICE

The B.C. Centre for Innovation and Clean Energy (CICE) is an independent, not-for-profit corporation that provides early-stage investment to fast-track the commercialization of British Columbia’s most impactful clean energy solutions – from Canada to the world. We match the urgency and efficiency of the companies we fund, driving innovation like the planet depends on it. Because it does. Together with our climate-first community of innovators, industry leaders, academia, government, and Indigenous partners, we advance future pathways to net-zero – leveraging B.C.’s clean energy advantages to attract investment, create good jobs and build sustainable economic prosperity for decades to come. www.cice.ca

SOURCE B.C. Centre for Innovation and Clean Energy

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Dräger awarded Veterans Health Administration (VHA) contract for surgical lighting and equipment booms to support acquisition efficiency

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45 minutes ago

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April 21, 2025

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Veterans Health Administration (VHA) has awarded Dräger a five-year, single-award Non-Expendable (NX) Equipment Program requirements contract for surgical lighting systems and equipment booms (Contract # 36C10G24D0105).

TELFORD, Pa., April 21, 2025 /PRNewswire/ — Dräger, an international leader in medical and safety technology, has been awarded a contract by the U.S. Department of Veterans Affairs (VA) under the Non-Expendable (NX) Equipment Program. This agreement covers surgical lighting and equipment boom systems to support operating room (OR) and other environments within VA medical facilities, making them available to order via VHA’s National Equipment Catalog (NEC).

“…a streamlined path for VA medical centers to access our clinically proven solutions….”

The award of this NX contract reflects Dräger’s commitment to delivering innovative, reliable solutions that can support clinical effectiveness and long-term value. Dräger’s Polaris surgical lighting systems are designed to help enhance surgical precision, improve workflow efficiency, and focus on patient safety—all while supporting efforts to manage operational costs.

“This contract reinforces Dräger’s continued collaboration with the Veterans Health Administration,” said Steve Menet, senior vice president of sales, hospital solutions at Draeger, Inc. “It provides a streamlined path for VA medical centers to access our clinically proven solutions, which are backed by dedicated service and support.”

The NX Equipment Program is designed to simplify procurement and improve purchasing efficiency for participating VA facilities. The contract offers a pre-competed acquisition option that can help reduce administrative burden and facilitate timely access to equipment.

For more information about Dräger surgical lighting and OR boom solutions, please visit:

https://www.draeger.com/en-us_us/Productfinder/Medical-Lights/Surgical-Lights

https://www.draeger.com/en-us_us/Productfinder/Medical-Supply-Systems 

You can find more information and pictures in our press center:
https://www.draeger.com/en-us_us/Newsroom/Press-Center

Dräger. Technology for Life®

Dräger is an international leader in the fields of medical and safety technology. Our products protect, support, and save lives. Founded in 1889, Dräger generated revenues of around € 3,4 billion in 2024. The Dräger Group is currently present in over 190 countries and has more than 16,000 employees worldwide. Please visit www.draeger.com for more information.

Contact
Communications: Melanie Kamann, Tel. +49 451 882-3202, melanie.kamann@draeger.com
Press Contact North America: Laura Edwards, Tel. +1 215 565-5868, laura.edwards@draeger.com
Investor Relations: Thomas Fischler, Tel. +49 451 882-2685, thomas.fischler@draeger.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/drager-awarded-veterans-health-administration-vha-contract-for-surgical-lighting-and-equipment-booms-to-support-acquisition-efficiency-302432754.html

SOURCE Draeger

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Reports Warn of Deepening Energy Crisis in the Southeast

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45 minutes ago

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April 21, 2025

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LITTLE ROCK, Ark., April 21, 2025 /PRNewswire/ — Four reports released in recent weeks present a troubling situation: the Southeast’s power grid is no longer up to the task of supporting America’s economy, energy independence, or national security.

Collectively, these independent analyses—The Brattle Group’s Southeast transmission report, SREA’s Winter Storm Elliott review, the national defense-focused Unleashing the Grid report, and the American Society of Civil Engineers’ 2025 Energy Infrastructure Report Card—point to one simple conclusion: our energy system is aging, fragmented, and failing to meet the needs of a modern America.

The Crisis in the Southeast: A Convergence of Warning Signs

📉 America’s Grid Just Got a D+ – According to ASCE’s 2025 Infrastructure Report Card, the U.S. energy system has declined in performance, reliability, and readiness to meet growing electricity demands. The report calls for doubling transmission capacity to meet rapid electrification, citing major vulnerabilities in regions like the Southeast.

🔥 Winter Storm Elliott Revealed the Cracks – SREA’s report on Winter Storm Elliott showed that thousands of megawatts of gas and coal generation failed during peak hours, while solar performed reliably. Yet a lack of interregional transmission left the Southeast unable to import power when it was needed most.

💸 Brattle Finds Billions Left on the Table – The Brattle Group found that the Southeast is missing out on $8 billion in cost savings by failing to invest in regional transmission upgrades—a fix that would also reduce blackout risks and unlock cheaper energy resources.

🛑 A Decade of Grid Inaction – The Southeast remains the only U.S. region not to approve a single regional transmission line, despite explosive demand growth from new manufacturing hubs and data centers.

National Security Implications: Grid Weakness Is a Strategic Liability

The report Unleashing the Grid: Energy Dominance for National Defense outlines how military readiness, defense manufacturing, and emergency response depend on the civilian electricity grid. With energy demands from cybersecurity, and next-gen defense systems rising fast, the Department of Defense’s ability to execute missions is at risk if grid failures persist.

“The electric grid is not separate from our defense system—it is part of it,” said the authors. “No mission is executed in isolation, and the military can’t operate without a resilient, high-capacity grid.”

The report calls for integrating military energy needs into transmission planning and highlights the risk of leaving military installations vulnerable to long-duration, regional blackouts caused by outdated or insufficient transmission.

The Bottom Line: It’s All One Story

“These reports don’t just highlight one problem—they tell a shared story about a system in decline,” said Simon Mahan, Executive Director of the Southern Renewable Energy Association. “The Southeast is growing fast. Our power needs are growing faster. But our grid is not keeping up. If we want to power our economy, secure our national defense, and give businesses and families reliable energy, we must act now to invest in the backbone of our grid.”

What Needs to Happen Now

Business leaders, military experts, and grid analysts are calling on decision-makers to:

Treat grid investment as a strategic imperative for U.S. energy dominance.

Modernize regional transmission planning to reflect today’s reliability, cost, and security needs.

Accelerate permitting and investment for high-voltage transmission lines across the Southeast.

Increase interregional transfer capability to prevent blackouts during extreme weather and high demand.

View original content to download multimedia:https://www.prnewswire.com/news-releases/reports-warn-of-deepening-energy-crisis-in-the-southeast-302432508.html

SOURCE Southern Renewable Energy Association

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LightInTheBox Announces Positive Customer Feedback and Return to Profitability with New Direct-to-Consumer Brand

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45 minutes ago

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April 21, 2025

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SINGAPORE, April 21, 2025 /PRNewswire/ — LightInTheBox Holding Co., Ltd. (NYSE: LITB) (“LightInTheBox” or the “Company”), a global online retail company, today announced that it has received positive feedback from customer surveys regarding one of its newly launched Direct-to-Consumer (DTC) brands. The brand has achieved an average Net Promoter Score (NPS) of 60, surpassing the industry average for Consumer Services / Catalog / Specialty Distribution, indicating a strong initial reception from customers.

Customer Praise for Quality and Service

Customer testimonials highlight the brand’s high-quality products and exceptional customer service. Reviewers have praised the apparel for its “stunning colors and perfect fit,” with one customer noting, “These dresses fit me like one big beautiful glove!” The materials have been commended as “beautiful and lightweight,” while the customer service has been characterized as “superior.”

Strategic Shift Drives Profitability

This positive feedback underscores the success of LightInTheBox’s strategic shift towards proprietary DTC brands, which has been instrumental in the Company’s return to profitability. By focusing on in-house design and manufacturing, LightInTheBox has been able to deliver higher-quality products and a more personalized customer experience, setting it apart from its traditional business model. This shift has not only enhanced customer satisfaction but has also improved the Company’s financial performance, enabling it to achieve profitability in recent quarters.

A More Attractive Business Model

The new DTC approach represents a significant evolution from LightInTheBox’s traditional business model. By controlling the entire value chain—from design to delivery—the Company has increased its operational efficiency and customer loyalty. This model has proven to be more appealing to both consumers and investors, as it allows for faster innovation, a direct connection with customers, and sustainable financial success.

Leadership Perspective

“We are thrilled with the positive response from our customers to this new DTC brand,” said Mr. Jian He, CEO of LightInTheBox. “This success is a testament to our strategic vision and the hard work of our team. More importantly, it has played a key role in our return to profitability, and we are confident that this momentum will continue as we expand our portfolio of proprietary brands.”

Future Growth on the Horizon

Looking ahead, LightInTheBox plans to launch additional proprietary brands and leverage advanced technologies, such as AI, to further enhance its offerings and operational efficiency. With a strong foundation in manufacturing and a customer-centric approach, the Company is well-positioned to capitalize on the growing demand for affordable, high-quality lifestyle products.

About LightInTheBox Holding Co., Ltd.

LightInTheBox is a global specialty retail company, providing a diverse range of affordable lifestyle products directly to consumers worldwide since 2007. In 2024, the Company shifted its focus to apparel design and launched its first proprietary brand, Ador.com, to meet the growing global demand for accessible higher-end fashion. Ador.com specializes in designer-quality clothing for women aged 35-55 at competitive prices and operates design studios and sample shops in both the U.S. and China, including a boutique and design studio in Campbell, California. Additionally, LightInTheBox offers a comprehensive suite of services to e-commerce companies, including advertising, supply chain management, payment processing, order fulfillment, and shipping and delivery solutions. For more information, please visit https://ir.ador.com.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets” and similar statements. Among other things, statements that are not historical facts, including statements about LightInTheBox’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as LightInTheBox’s strategic and operational plans, are or contain forward-looking statements. LightInTheBox may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: LightInTheBox’s goals and strategies; LightInTheBox’s future business development, results of operations and financial condition; the expected growth of the global online retail market; LightInTheBox’s ability to attract customers and further enhance customer experience and product offerings; LightInTheBox’s ability to strengthen its supply chain efficiency and optimize its logistics network; LightInTheBox’s expectations regarding demand for and market acceptance of its products; competition; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in LightInTheBox’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and LightInTheBox does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Investor Relations
LightInTheBox Holding Co., Ltd.
Email: ir@ador.com

Jenny Cai
Piacente Financial Communications
Email: ador@tpg-ir.com

Brandi Piacente
Piacente Financial Communications
Tel: +1-212-481-2050
Email: ador@tpg-ir.com

View original content:https://www.prnewswire.com/news-releases/lightinthebox-announces-positive-customer-feedback-and-return-to-profitability-with-new-direct-to-consumer-brand-302433285.html

SOURCE LightInTheBox Holding Co., Ltd.

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