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Stepwise Secures NOK 35 million in Capital Raise to Fuel Expansion

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STAVANGER, Norway, June 18, 2024 /PRNewswire/ — Stepwise AS, a leading emissions management platform that empowers companies within the energy sector to reduce their carbon footprint, announces the successful completion of a NOK 35 million capital raise. The funding enables accelerated growth plans and enhanced product offerings, on the path to becoming a market leader in emissions reduction for the energy sector.
 
“We founded Stepwise in 2021 with a clear vision of delivering a unified platform for sustainable emissions reduction and monitoring across operations and management, and we are now collaborating with some of the largest global energy companies,” says Matthew Johan, Co-founder and Executive Director of Stepwise. “This successful capital raise marks a significant milestone for us, underscoring our strong market potential and innovative business model.”
 
Stepwise is built by a global team of subject matter experts, with extensive experience working within the maritime and offshore energy domains for industry leaders including Aker BP, SLB and Equinor. The Stepwise team maintains local presence in Norway, the UK, US and UAE.
 
Strategic growth into offshore production
Stepwise is currently active with a solution for offshore well construction and pursues strategic expansion across the energy value chain, with a focus on growth into offshore production together with existing clients. Simultaneously, the company is actively positioning for future deployment of its solutions across the energy sector.
 
“We see a large growing potential for future expansion across offshore wind, fixed platforms, production (FPSOs), and land-based drilling. The potential is not limited to emission management on an asset level but extends to the whole enterprise,” Matthew Johan adds.
 
Sustainability is more than metrics
The energy sector faces increasing pressure to reduce carbon emissions while maintaining efficiency and profitability. Energy companies must accurately monitor and manage emissions across their portfolios, complying with stringent sustainability regulations, such as the EU Corporate Sustainability Due Diligence Directive. It was adopted in May this year, imposing significant penalties for non-compliance.
 
Stepwise addresses these challenges by combining expertise in operational performance, power consumption, and greenhouse gas emissions with a sophisticated SaaS-platform, and value-added services. The platform offers real-time monitoring and seamlessly integrates with existing digital tools, allowing for precise tracking of emissions linked to specific operations.
 
The solution provides clear insights into carbon intensity and operational efficiency, supporting detailed planning and execution of emission reduction initiatives. This enables energy companies to prioritize the most cost-effective carbon abatement solutions as part of a continuous improvement approach.
 
Strong support
Since its inception, Stepwise has demonstrated rapid growth and innovation, supported by strong collaborations and dedicated investors. The proceeds from the capital raise is enabling continued development to meet the evolving needs of both existing and new customers. Specifically, the funding will fuel its ongoing expansion into the offshore production segment. The NOK 35 million raised consists of new equity, a convertible loan, and a credit line with a major Nordic bank.
 
“We believe Stepwise is uniquely positioned to capitalize on the opportunities ahead. The Stepwise team has demonstrated a capacity for innovation in developing a management tool that enables industries to substantially impact environmental sustainability on the road to Net Zero”, said Birgitte Angelil, Director of Stepwise and Partner at Eltek Holding. “Their proven track record and a clear strategic vision make them a compelling investment. We are excited to be part of their journey and look forward to their continued success.”
 
About Stepwise AS
Stepwise is a leading emissions management platform meticulously crafted to empower companies within the energy sector to reduce their carbon footprint. Instrumental in moving the energy sector faster towards Net Zero, it provides real-time monitoring, comprehensive tracking of Scope 1, 2, and 3 emissions, and seamless integration with existing digital ecosystems. The correlation of emissions and well data enables monitoring of the carbon intensity per meter drilled across D&W operations. Other key features include digitalization, record-keeping, data analysis, algorithms, assets, and wells performance comparisons, enabling substantiated well and field development planning and auditing. As a pioneering SaaS platform, Stepwise turns data into sustainable action. Its experienced team’s aptitude to continuously identify, implement, and measure emission reduction initiatives (ERIs) enables companies to reduce fleet-wide emissions, ensure regulatory compliance, and consistently deliver against set corporate goals.
 
Contact Information:
For further information, please contact:

Matthew Johan
Executive Director
Stepwise AS
+1 646 467 2606
mj@stepwise.no 
www.stepwise.no

Note to Editors:

Stepwise is a leading emission management platform for the global energy sector. For more information about Stepwise and its offerings, please visit www.stepwise.no

This information was brought to you by Cision http://news.cision.com

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Internet Society Report Highlights Challenges and Recommendations for Internet Connectivity in the Middle East

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WASHINGTON, Sept. 22, 2024 /PRNewswire/ — The Internet Society (ISOC), a global charitable organization advocating for an open, globally connected, and secure Internet, released a comprehensive report on the state of Internet connectivity across the Middle East and North Africa (MENA) region.

The report underscores Internet connectivity as a catalyst for economic growth and social development and how an increase in fixed broadband access has a direct impact on growing gross domestic product (GDP).

Key Findings:

Growth in Mobile and Fixed Broadband: Both mobile and fixed broadband connections have grown substantially from 2015 to 2021, particularly in Gulf States with advanced fiber-optic and 5G networks. However, deployment has been slower in other parts of the region, primarily due to infrastructure challenges and affordability issues.

Mobile Internet users increased from 130M to over 180M between 2016 and 2021, with Egypt, Tunisia, and Morocco showing the highest growth rates. Fixed broadband users rose from 17M to 29M in the same period, with Egypt leading the way. The Arab region lags behind other regions in fiber optic deployment, with stagnation in investment since 2018.

High-Income Countries: Significant progress in broadband infrastructure, especially in Gulf Cooperation Council (GCC) countries due to 5G rollout. High-income countries improved their Internet availability from 77.34 to 79.37, surpassing global averages.Low-Middle-Income Countries: Broadband has improved modestly, but challenges persist. Despite overall progress, a significant digital divide remains between high-income and low-middle-income countries, partly due to political and economic instability in some regions, such as Tunisia and Syria.

Infrastructure Challenges: There is a heavy reliance on European Internet Exchange Points for international Internet traffic, which results in slower speeds due to additional data hops.

Emerging Technologies: The report emphasizes the role of emerging technologies such as High-Throughput Satellites (HTS) and Low-Earth Orbit (LEO) satellites in bridging the connectivity gap. These technologies are crucial for expanding access to underserved rural areas.

Impact of COVID-19: The COVID-19 pandemic has adversely affected network performance and digital transformation plans, causing delays and disruptions in connectivity improvements.

Recommendations:

Policy and Regulation: The Internet Society advocates revising regulatory frameworks to accelerate infrastructure deployment. Key recommendations include enhancing spectrum policies, removing regulatory barriers, and fostering public-private partnerships to drive investment, competition, and support for small and medium enterprises.

Spectrum Availability: North African countries have limited spectrum compared to global averages, impacting network capacity and costs.Regulatory Frameworks: Enhance regulatory frameworks to foster investment, encourage spectrum and infrastructure sharing, and support new technologies like HTS and LEO satellites.

Collaboration and Investment: Promote public-private partnerships and update national broadband plans to improve infrastructure and connectivity.

Digital Skills and Literacy: Addressing digital skills and literacy is crucial for maximizing the benefits of Internet connectivity. The report calls for more affordable, relevant, and inclusive education and training programs to build a digital workforce.

Local Internet Exchange Points (IXPs): The report stresses the importance of establishing and upgrading IXPs to enhance local Internet traffic, reduce costs, and improve service quality. Governments are encouraged to support IXPs by providing resources and facilitating network interconnections.

“The Internet has become indispensable for many people, and its role in connecting people, fostering economic opportunities, and driving innovation is undeniable. The Arab region has made big leaps in the availability and adoption of the Internet in recent years; however, adoption rates are still low. We hope that governments will use our report to learn about the improvements that can be made in infrastructure deployment, affordability of service, market structure, and regulatory frameworks,” explains Nermine El Saadany, Regional Vice President for the Middle East for the Internet Society.

About the Internet Society
Founded by Internet pioneers, the Internet Society (ISOC) is a global charitable organization dedicated to ensuring the open development, evolution, and use of the Internet. Through a global community of chapters and members, the Internet Society collaborates with a wide range of groups to promote the technologies that keep the Internet safe and secure and advocates for policies that enable universal access. The Internet Society is also the organizational home of the Internet Engineering Task Force (IETF).

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Representatives from 57 countries, regions and 6 international organizations, are gathering in Suzhou.

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What important topics are they discussing about? Let’s find out!

BEIJING, Sept. 22, 2024 /PRNewswire/ — I’m Xiao Lin from National Immigration Administration. On September 9th, the first Sub-Forum on Migration Management Cooperation was successfully held. Representatives from all parties expressed their insights and appeals around the development and innovation of migration governance.

It was truly a content-rich event!

Why does the international community focus on the topic of “Migration Governance” so much?

At present, changes unseen in a century is unfolding at a faster pace. The situation in the wider world remains complex and fluid. However, peace, development, cooperation and win-win results are still an unstoppable historical trend. Migration governance is critical to economic development of individual countries, global security governance and international cultural and people-to-people exchanges. It has increasingly become a key issue in global governance.

Here are the key points:
At the forum, NIA made three commitments: implementing more open policies for the cross-border flow of people, more effective actions in the governance of transnational crimes and more extensive global cooperation in migration governance, injecting new impetus to opening up and development; At the same time, three initiatives have been put forward, [Original scene of the initiative] contributing China’s wisdom and solutions to global migration governance and further showcasing its image as an open, confident, secure, and thriving major power.

Representatives also made keynote speeches, sharing their migration governance policies, measures and experience, and providing their perspectives on regional and international migration governance.

Pooling wisdom for win-win results.

In a changing era, National Immigration Administration of China stands ready to work with all parties to promote global migration governance to a higher level and contribute more wisdom to world peace, development, prosperity and stability!

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SOURCE National Immigration Administration

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Supreme Court Justice Michelle O’Bonsawin Joins Elementary Students for Live Virtual Q&A and Chapter One Storybook Reading on Sep. 24

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The Honourable Justice Michelle O’Bonsawin, the first Indigenous person appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A on September 24, from 1:00-2:15 pm ET, following a reading of the children’s storybook, “Daanis the Judge.” This event is hosted by Chapter One, a children’s literacy charity, to commemorate the National Day for Truth and Reconciliation. Lawyer Victoria Perrie, writer of “Daanis the Judge,” will read aloud the inspiring story, which is based on Justice O’Bonsawin’s remarkable journey. Illustrator EJ Miller-Larson will join Justice O’Bonsawin and Perrie in a moderated Q&A session with over 1900 elementary students.

TORONTO, Sept. 21, 2024 /PRNewswire-PRWeb/ — The Honourable Justice Michelle O’Bonsawin, the first Indigenous person to be appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A following a live online reading of the original children’s storybook “Daanis the Judge,” on September 24, from 1:00-2:15 pm ET. The event will be hosted by Chapter One to mark the National Day for Truth and Reconciliation. Chapter One is a children’s literacy charity that provides 1:1 high-impact reading tutoring and co-creates original storybooks with participating communities nationwide.

“I am very humbled and proud to be a part of the book, “Daanis the Judge.” My hope is that this book will inspire youth to dream big and know that anything is possible. I am evidence of that!” – Justice Michelle O’Bonsawin

Métis-Cree lawyer Victoria Perrie, who wrote “Daanis the Judge,” will lead the live reading. Students will ask questions during a moderated Q&A with Justice O’Bonsawin, Perrie, and illustrator EJ Miller-Larson, of the Fond du Lac Band and Oneida Nation.

“Daanis the Judge” was inspired by Justice O’Bonsawin’s trailblazing career. It tells the story of a young student, Daanis, who dreams of becoming a judge after learning about Justice O’Bonsawin’s achievements.

The story is part of Chapter One’s growing collection of original children’s e-storybooks, co-created with Indigenous writers, illustrators and communities. The e-storybooks celebrate Indigenous experiences and perspectives, and feature audio clips of Elders pronouncing foundational words in their communities’ first languages. All e-storybooks are provided for free through the Global Free Library.

About Chapter One

Chapter One (chapterone.org/ca) is a global nonprofit and registered Canadian charity that provides one-on-one early literacy tutoring programs to 2,300 children in eight provinces and territories across Canada. Its proven “short burst” high-impact tutoring approach—five-minute sessions, three to five times a week—is ideally suited to young children’s attention spans and aligns with the Science of Reading. In one of the largest randomized control trials conducted on early literacy instruction, researchers from Stanford University found that 7 out of 10 students receiving Chapter One high impact tutoring achieved phonics benchmarks by the end of Kindergarten, compared to 32% in the control group.

Children at risk of reading failure receive 1:1 reading support from trained, paid paraprofessional tutors through Chapter One’s online reading platform and custom software. Programs are delivered in-person and virtually in classrooms through agreements with schools and school boards, and at home on families’ smartphones, connecting struggling readers with individualized reading support—regardless of location and circumstance, even in some of the most geographically remote communities in Canada.

In addition to its tutoring programs, Chapter One collaborates with Indigenous communities to co-create children’s stories that represent the communities’ priorities and experiences and advance language revitalization efforts. The e-storybooks are provided for free online, as part of the Global Free Library.

Event details

The Live Virtual Q&A and Reading of “Daanis the Judge” with the Honourable Justice O’Bonsawin takes place on Tuesday, September 24, from 1:00-2:15 pm ET via Zoom. The event is open to elementary classes (Grades 1-6). Teachers/principals must register their classes in advance using this link.

Media Contact

Denise Orosa, Chapter One Canada, 1 4374224825, denise.orosa@chapterone.org, chapterone.org/ca

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SOURCE Chapter One Canada

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