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Government of Canada Invests in Antigonish’s Electrical Grid Modernization to Support Goal of 100% Clean Energy

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ANTIGONISH, NS, July 2, 2024 /CNW/ – Canada is developing a more sustainable future by creating electricity grids that provide more affordable, reliable, and clean energy to homes and businesses when and where they need it. Investing in clean energy projects and supporting communities to become resilient, liveable, and sustainable places to live is critical to delivering good jobs while unlocking economic opportunities for future generations.

Today, the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced a $9.7 million investment for grid modernization in the Town of Antigonish, Nova Scotia. This major investment will unlock more efficient uses of electricity within the community and allow for increased renewable energy sources such as wind and solar while driving down emissions and supporting sustainable jobs and communities.  

This funding will help deploy hardware and software systems across Antigonish to create a more efficient and resilient electricity grid system, leading to reduced power outage frequency and duration, increased opportunity for cost effective electrification, increased renewable integration and ultimately, to help Antigonish to meet its net-zero aspirations.

Federal funding for this project is provided by Canada through the Smart Renewables and Electrification Pathways Program (SREPs) – which is supporting smart renewable energy, energy storage and electrical grid modernization projects across the country. The SREPs program is one of many initiatives that the Government of Canada is undertaking to deliver clean, reliable and affordable power to every region of Canada by 2035.  

The Government of Canada will continue to work with experts and governments to position Canada, including Nova Scotia, as a global supplier of clean energy and new technologies, while creating new economic opportunities, good jobs and a clean, reliable, and affordable electrical grid for all.  

Quotes 

“Working with communities to modernize the electric grid is key to bringing more clean, reliable, and affordable energy to Nova Scotians. Projects announced today will support the Town of Antigonish in its goal of becoming Canada’s first net-zero community, and I look forward to seeing the results of this grid modernization.” 

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources  

“With this investment, the Town of Antigonish can benefit from more resilient, clean and efficient power. Projects supported by this funding are emblematic of our efforts to support good, sustainable jobs for communities in Nova Scotia.” 

The Honourable Sean Fraser,
Minister of Housing, Infrastructure and Communities

“We are excited to announce the launch of a large-scale infrastructure investment that will serve as a national flagship project. The Town’s Grid Modernization project is a significant initiative that showcases how municipalities, electric utilities, and customers can collaborate to ensure that our transition to a green future is inclusive and benefits all members of our community.”

Laurie Boucher 
Mayor, Town of Antigonish

Quick Facts  

This project is funded through the Smart Renewables and Electrification Pathways Program (SREPs). This $4.5-billion program is designed to significantly reduce emissions and create sustainable jobs by continuing to support the deployment of grid modernization, energy storage and renewables in every region of Canada. SREPs is actively supporting Canada’s ongoing transition to a net-zero economy by 2050 and Canada’s commitment to meeting Clean Electricity Regulations objectives.  Last year, the Government of Canada released Powering Canada Forward, its vision for transforming Canada’s electricity sector and meeting its commitment to decarbonizing the country’s electricity systems as it: reiterates why the expansion of a clean electricity system is important and necessary to drive sustainable growth, enhance environmental performance and advance Indigenous reconciliation; highlights the extensive work governments and partners have already done to create a dynamic, sustainable electricity sector; and outlines how the federal government has supported, incentivized and accelerated the production of clean and non-emitting electricity, and will continue to do so. The town owns and operates its own municipal electricity utility, with about 64 per cent of its energy coming from renewable sources, including power generated from the Ellershouse Wind Farm.

Related Information  

Town of AntigonishSmart Renewables and Electrification Pathways Program  Powering Canada Forward: Building a Clean, Affordable, and Reliable Electricity System for Every Region in Canada   2030 Emissions Reduction Plan: Clean Air, Strong Economy   Canada’s Sustainable Jobs Plan 

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SOURCE Natural Resources Canada

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Tuya Smart Secures Prestigious Spot Among “2025 Forbes China AI Tech Enterprises Top 50”

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May 28, 2025

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NEW YORK, May 27, 2025 /PRNewswire/ — Forbes China has released its “2025 Forbes China AI Tech Enterprises Top 50” list, recognizing Tuya Smart (NYSE: TUYA, HKEX: 2391), a leading global AI cloud platform service provider, as one of the country’s top AI technology companies. Tuya is notably the only AI cloud platform included in this year’s ranking in recognition of its robust technological capabilities and significant contributions to advancing AI accessibility and commercialization.

The list highlights outstanding Chinese enterprises driving AI innovation, showcasing the industry’s development and growing influence. According to Forbes China, companies that combine breakthroughs in advanced technologies with deep industry expertise are poised to shape the next technological era.

This year’s selection includes one primary list—Top 50 AI Tech Enterprises—alongside four subcategories. The main list focuses on identifying the most influential and representative players in China’s AI sector. A panel of distinguished global and domestic AI scholars and experts evaluated nominees across several criteria, including technological innovation, market performance, and industry impact.

Eva Na, Vice President of Marketing and Strategic Cooperation and CMO of Tuya Smart, said: “Being named to the ‘2025 Forbes China AI Tech Enterprises Top 50’ is a strong endorsement of Tuya’s long-term commitment to AI innovation and ecosystem development. We will continue to leverage our technological strengths and open ecosystem, working with global partners to lower barriers to AI adoption, promote equitable AI access, and deliver more user-friendly smart products that bring tangible value to businesses, households, and individuals worldwide.”

 

View original content:https://www.prnewswire.com/news-releases/tuya-smart-secures-prestigious-spot-among-2025-forbes-china-ai-tech-enterprises-top-50-302466605.html

SOURCE Tuya Smart

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Al Ansari Exchange and UnionPay International Launch Real-Time Remittance Service to China via MoneyExpress

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7 minutes ago

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May 28, 2025

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Dubai, UAE, May 28, 2025 /PRNewswire/ — Al Ansari Exchange, a subsidiary of Al Ansari Financial Services and the largest remittance and foreign exchange company in the UAE, and UnionPay International UPI announced today the launch of MoneyExpress remittance service in the UAE. This partnership marks a significant milestone, as Al Ansari Exchange becomes the first exchange company in the entire GCC region to integrate directly with UnionPay’s infrastructure, streamlining remittances through a fully digital, real-time interface ensuring speed, transparency, and user convenience.

This agreement was signed during Seamless Middle East 2025, in the presence of Mr. Ali Al Najjar Chief Operating Officer at Al Ansari Exchange and Mr. Luping Zhang, General Manager of Middle East of UnionPay International.

“Digital innovation is at the heart of our strategy, and the launch of MoneyExpress marks a significant step forward in cross-border payment solutions,” said Ali Al Najjar, COO of Al Ansari Exchange. “By directly integrating with UnionPay’s network, we are removing traditional barriers to remittance, delivering a faster, more cost-effective, and customer-centric solution that strengthens our position as a digital leader in financial services.”

“We are pleased to partner with Al Ansari Exchange to introduce MoneyExpress in the UAE,” said Luping Zhang, of UnionPay International. “This service offers customers a secure, real-time, and cost-effective way to send money to China. With upfront exchange rate settlement and direct crediting in RMB, it simplifies the process and eliminates hidden fees, enhancing convenience for senders and recipients alike.”

Unlike traditional remittance channels, MoneyExpress guarantees the exchange rate upfront and credits the recipient’s UnionPay card in Chinese renminbi (RMB) instantly, without intermediary or bank handling fees. This provides customers with greater cost transparency and immediate access to their funds.

With a network of over 270 branches and digital channels across the UAE, Al Ansari Exchange combines deep market expertise with advanced compliance standards to offer seamless financial services. This milestone and strategic partnership between Al Ansari Exchange and UnionPay International paves the way for future collaborations that will expand secure and efficient payment solutions across new corridors.

View original content:https://www.prnewswire.co.uk/news-releases/al-ansari-exchange-and-unionpay-international-launch-real-time-remittance-service-to-china-via-moneyexpress-302466622.html

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OSL Wealth Debuts Stablecoin Yield-Generating Product via Ethena

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7 minutes ago

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May 28, 2025

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TL;DR: OSL Wealth Partnership with Ethena, giving institutional clients dollar-pegged stability, auto-compounding on-chain yield, and daily liquidity.

HONG KONG, May 28, 2025 /PRNewswire/ — OSL Wealth, under OSL Group, announces a new yield-generating product that seamlessly channels the performance of Ethena Labs’ Staked USDe (sUSDe) to OSL’s professional and institutional clients.

Clients simply trade through OSL’s OTC desk—using USD or USDT—and receive an instrument that (i) auto-compounds historically low-to-mid-teen net APY into its price, (ii) maintains constant 1:1 redemption into USDe for dollar stability, (iii) offers business-day subscriptions and redemptions with no lock-ups or performance fees, and (iv) is safeguarded around the clock in OSL’s segregated, insured custody.

sUSDe is the reward-bearing version of Ethena’s synthetic stablecoin, USDe. By pairing ETH collateral with short perpetual-futures hedges, the underlying protocol harvests funding-rate income and staking rewards, compounding them into the token’s value while preserving a 1:1 dollar peg. OSL Wealth now wraps that mechanism inside its own regulated offering, so clients can benefit from sUSDe’s yield without managing staking wallets, on-chain hedges, or complex custody flows.

Tony Luk, Head of OSL Wealth stated, “Our clients want dollar stability that earns a real return, delivered through an institution they already trust. By integrating sUSDe under OSL’s compliance, custody, and security framework, we’ve turned a technically demanding DeFi strategy into a turnkey income product.”

“OSL has set the bar for regulated digital asset services in Asia,” noted Steven Shi, Head of Institutional Growth, Ethena Labs. “Their adoption of sUSDe brings our yield-bearing stablecoin to an audience that demands both transparency and institutional-grade safeguards.”

¹ Past performance is not indicative of future results. Yield fluctuates with perp-funding rates and staking returns.

About OSL Hong Kong

As a subsidiary of the publicly listed OSL Group (HKEX: 863.HK), OSL Digital Securities is Hong Kong’s first and most established SFC-licensed and insured digital asset platform. Operating since 2018, the platform provides institutional-grade digital asset services to corporations, financial institutions, professional and retail investors.

OSL Hong Kong delivers services across five core domains: OTC brokerage, Omnibus broker solutions, custody, wealth management, and retail services. The OTC brokerage services provide 24/7 high-liquidity crypto trading with fiat on/off-ramp services. Custody solutions feature client-asset segregated wallet management backed by US$1 billion insurance coverage. The wealth management suite offers crypto investments to traditional investors, including tokenised treasuries, RWAs, structured crypto products, and quant investment strategies. Retail services bring institution-grade security and crypto access to professional and retail investors.

As a pioneer in bridging traditional finance and the digital asset economy, OSL Group adheres to its core concept: Open, Secure, and Licensed, empowering the next generation of global financial infrastructure. In addition to Hong Kong, OSL Group expands operations under full regulatory compliance in Japan, Australia, Europe and beyond.

For more information, visit osl.com.

About Ethena Labs 

Ethena is the protocol behind USDe, the third-largest and fastest growing USD-denominated crypto asset in history. Ethena has $6.2 billion in TVL today, alongside integrations with some of the largest centralized exchanges and major DeFi applications. Ethena Labs, a contributor to the protocol, is backed by Fidelity, Franklin Templeton, Dragonfly, Binance Labs, Bybit and OKX among others.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/osl-wealth-debuts-stablecoin-yield-generating-product-via-ethena-302466682.html

SOURCE OSL

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