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Westbridge Renewable Provides Corporate Update

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CALGARY, AB, July 8, 2024 /PRNewswire/ – Westbridge Renewable Energy Corporation (TSXV: WEB), (OTCQX: WEGYF), (FRA: PUQ) (“Westbridge”, “Westbridge Renewable” or the “Company”) is pleased to provide its shareholders with a corporate update.

Corporate Update

The Georgetown project was sold in late 2023, bringing in more than $40 million in non-dilutive cash to the Company. This was a major milestone, ensuring the Company is well-funded to expand its pipeline of projects globally, and enabling it to return capital to shareholders

Management takes great pride in being named in the TSX Venture 50 ranking, two years in a row and reaching #1 in Clean Tech & Life Sciences sector for 2023 and to the 2024 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.

We are delighted with the Company’s growth to date, a solar portfolio growth of 6x by MW since the RTO in Q2 2021.

Return of Capital 

Management authorized a cash distribution to its common shareholders of C$0.10 per share, classified as a return of capital. The special cash distribution was paid, in Canadian Dollars, to shareholders of record on Friday, June 7, 2024 on or about Friday, June 21, 2024. 

The Company also commenced a share repurchase program, or normal course issuer bid, for a maximum 4,962,722 shares, representing approximately 5% of the Company’s issued and outstanding shares.  

Stefano Romanin, CEO of Westbridge, noted: “We believe that this is an appropriate step for Westbridge to take given the conclusion of the disposition of the Georgetown Solar Project and is intended to reward shareholders for their unflagging support for the Company since the launch of Westbridge as a renewable energy company in 2021.” 

Portfolio Update

The Company is pleased to provide a portfolio update by geography on its solar PV and BESS projects under development in Canada, the U.S., United Kingdom, and Europe.

Canada

Sunnynook (270 MWac / 332 MWdc), located in Special Area No. 2, Alberta (“Sunnynook”); the project has obtained Power Plant and BESS Approval and a Substation Permit and License from the Alberta Utilities Commission (“AUC”), and is permitting the transmission line to connect the facility to the electric system.Dolcy (300 MWac / 375 MWdc), located in the municipal district of Wainwright, Alberta; the project has applied for Power Plant and BESS Approval and a Substation Permit and License with the AUC.Eastervale (300 MWac / 345 MWdc), located in the municipal district of Provost, Alberta; the project has applied for Power Plant and BESS Approval and a Substation Permit and License with the AUC.Red Willow (225 MWac / 290 MWdc), located in Stettler County No. 6, Alberta; the project is applying for Power Plant and BESS Approval and a Substation Permit and License with the AUC. (together, the “Projects”)Transaction Update: The previously announced sale of the Projects, including the now closed Georgetown Project, to Metka-EGN Ltd. (a subsidiary of Metlen Energy & Metals S.A. (formerly MYTILINEOS S.A.)) continues to progress with Sunnynook expected to close in Q4 2024 upon satisfying conditions precedent under the share purchase agreements, including reaching ready to build status, and final approval be the TSX Venture Exchange. The remaining Projects are expected to close in 2025.Origination pipeline: the Company has secured land rights and completed feasibility assessments for several Solar PV and BESS projects in Alberta, which are going to start project development and are expected to be shovel-ready in 2026 and 2027. The origination team is evaluating an additional pipeline of Solar PV and BESS projects in Alberta and Ontario with the objective of adding high-quality renewable projects to the Company’s renewable portfolio.

USA

Accalia Point (190 MWac / 221 MWdc), located in Cameron County, Texas; the project has completed the field studies and is approaching shovel-ready stage.Origination pipeline: the Company has secured land rights and completed feasibility assessments for several Solar PV and BESS projects in the markets of SPP, WECC, MISO and Southeast U.S.

UK

Fiskerton (53 MWac / 106 MWh), located in Lincoln; the project has secured a grid connection and site control, and has submitted the planning application.

ITALY

Gierre Solare (32 MW), located in Lazio, the project has secured land and grid access, completed feasibility studies, and submitted the planning application.NM Solare (30MW), located in Lazio and Umbria, the project has secured land and grid access, completed feasibility studies, and submitted the planning application.

Market Update 

Overall, we are excited about what we see within the macro environment and clean energy sector.  Macro headwinds are beginning to ease, with interest rates and financing costs stabilizing (BOC, ECB and BOE cutting 25bp cuts in June, and Fed signaling year-end)1, supply chains normalizing2, and regulatory uncertainty improving3. 

In addition, structural tailwinds continue to ramp as demand for clean power accelerates, driven by AI/data centers4, “electrify everything,”5 and rapidly increasing corporate demand as shareholders and more transparency drives accountability for clean energy commitments6.  

As a result, risk appetite and project economics are improving, and deal flow across renewables has re-accelerated (+13% to total value $27.6bn in calendar Q1’24)7.  Most notably with the proposed acquisition of Neoen (at $6.6bn valuation, 27% bid premium) by Brookfield Renewable Partners and Singapore’s Temasek8.  The largest European ‘take private’ in over a year, reflecting continued strong interest in renewable energy developers and the disconnect between private and public market valuations.9  

About Westbridge Renewable Energy

Westbridge Renewable Energy Corp. develops best-in-class, utility-scale solar PV projects. The Company has a portfolio of projects in three key jurisdictions, Canada, the U.S., and the UK. Westbridge plans to deliver attractive, long-term returns by originating, executing, and developing an international portfolio of renewable assets for investors and utilities. Management has a strong track-record with 40+ projects developed worldwide, obtaining, and executing permits within budget. As one of the very few listed pure-play Canadian solar development companies, Westbridge provides its ESG minded investors with valuable access to greenfield solar projects. This means the Company can invest at the earliest stage of solar energy development benefiting from the full value chain as well as the expected wider adoption of renewable energy going forward. Westbridge brings together regulators, corporate buyers, and landowners with the goal of delivering clean, sustainable electricity to end users.

On behalf of the Board of Directors,

________________________________________

1 https://rsmus.com/insights/economics/assessing-central-bank-policy-in-the-post-pandemic-economy.html?cmpid=soc:twcpr:june-2024-tre:bb01

2 https://www.wsj.com/articles/supply-chains-have-changed-forever-819d9afd

3 https://renewablesassociation.ca/canrea-welcomes-end-of-alberta-moratorium/ 

4 https://www.goldmansachs.com/intelligence/pages/AI-poised-to-drive-160-increase-in-power-demand.html 

5 https://www.iea.org/reports/world-energy-outlook-2023/executive-summary

6 https://hbr.org/2021/04/shareholders-are-pressing-for-climate-risk-disclosures-thats-good-for-everyone 

7 GlobalData’s Power Industry Mergers and Acquisitions Deals report for Q1 2024

8 https://www.reuters.com/markets/deals/brookfield-nears-deal-buy-frances-neoen-66-bln-2024-05-30/ 

9 https://pitchbook.com/news/articles/how-private-equity-valuations-are-set

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information set forth in this document contains forward-looking information and statements including, without limitation, management’s business strategy, management’s assessment of future plans and operations. Such forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Forward-looking statements or information typically contain statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “potential” or similar words suggesting future outcomes or statements regarding future performance and outlook. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are
beyond the control of the Company.

This news release contains forward-looking statements about the Company’s future plans to originate and develop solar PV and battery storage projects, closing of sale of the Projects to Metlen, and long-term value creation, if at all, and the ability of the Company to achieve the aforementioned, each of which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include general business, economic, competitive, regulatory, policy and social uncertainties, and availability of permits and financing upon terms acceptable to the Company or at all. Applicable risks and uncertainties include, but are not limited to regulatory risks, changes in laws, market risks, operating history, competition, and the other risks identified under the headings “Risk Factors” in the Company’s annual management’s discussion and analysis dated March 328, 2024 and other disclosure documents available on the Company’s profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

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SOURCE Westbridge Energy Corporation

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Singaporeans Can Save Up to S$500 Monthly Through Digital Optimization, New ROSHI Study Reveals

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SINGAPORE, Jan. 9, 2025 /PRNewswire/ — ROSHI, a leading fintech company reshaping digital lending across Southeast Asia, today released its comprehensive “Inflation Survival Guide 2025,” revealing how Singaporeans can leverage digital tools and smart spending strategies to combat inflation, which is projected to moderate between 2.5-3% this year.

The study highlights that while essential expenses consume over 63% of household budgets, strategic use of digital payment solutions and lifestyle optimization can lead to significant monthly savings.

“In today’s economic climate, saving potential isn’t just about cutting back – it’s about spending smarter,” said Amir Nada, CEO of ROSHI. “Our analysis shows that by optimizing digital payment methods, transport choices and food delivery subscriptions, the average Singaporean household can save between S$300-500 monthly without compromising their lifestyle. These savings are essential for Singaporeans facing rising costs across all aspects of daily life.”

Key findings from the report include:

Top credit cards offer between 5-8% cashback on groceries, dining, and online spendingFood delivery subscriptions like GrabUnlimited ($5.99/month) save users an average of $45 monthlySmart utility management and telco optimization can reduce bills by up to 20-30%Digital gig platforms offer earnings from $13.80 per testing task to $350 per content piece

The transformation we’re seeing in consumer behaviour isn’t just about savings – it’s about adapting to a new economic reality,” said Trịnh Mai Thanh, Head of Research at ROSHI. “Our data shows that Singaporeans who embrace digital optimization tools consistently achieve better financial outcomes.”

The full report, is available at https://www.roshi.sg/inflation-survival-guide-singapore/

https://www.roshi.sg
https://www.linkedin.com/company/roshi-marketplace/
https://www.facebook.com/ROSHI.Singapore

Contact: Media Relations ROSHI Pte Ltd
Email: media@roshi.sg
Tel: +65 8959 1505

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SOURCE ROSHI Pte Ltd

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Arf and LuLu Financial Holdings Announce Strategic Partnership to Enable T-0 Settlement for Global Payments

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ZURICH and ABU DHABI, UAE, Jan. 9, 2025 /PRNewswire/ — Arf, a global leader in providing working capital and settlement liquidity solutions to payments companies, and LuLu Financial Holdings, a global financial services conglomerate, have announced a strategic partnership aimed at revolutionizing settlement times in the global payments and cross-border payments industry. This collaboration will allow LuLuFin to leverage Arf’s advanced settlement infrastructure, offering T-0 settlement times.

Through this partnership, LuLuFin gains access to Arf’s seamless cross-border treasury management solutions built on the PayFi Stack, enabling instant settlement capabilities that overcome the challenges of traditional correspondent banking systems.

This collaboration reinforces LuLuFin’s position at the forefront of innovation in the financial services sector, while Arf’s infrastructure facilitates real-time settlement—a critical requirement for modern global payments. By addressing liquidity needs with innovative solutions, both companies drive exponential growth in global payments, enhance operational efficiency, reduce risk, and better serve the financial needs of a global customer base. Arf’s solutions remove the working capital constraints of global payment companies, empowering them to scale operations without being limited by liquidity bottlenecks.

Arf’s Co-founder & CEO, Ali Erhat Nalbant, commented: “We are excited to partner with LuLuFin to deliver real-time settlement solutions that empower exponential growth and more reliable international payments. Our T-0 settlement capabilities we developed on PayFi Stack are setting a new standard for the industry.”

LuLu Financial Holdings’ Managing Director Adeeb Ahamed, said: “At LuLu Financial Holdings, we strive to develop innovative solutions for a seamless and secure payments experience. Partnering with Arf represents a step forward in this journey. This collaboration underscores our commitment to staying at the forefront of financial innovation while delivering value to a global customer base.”

The partnership underscores both companies’ commitment to modernizing financial infrastructure, providing global businesses and consumers with efficient, innovative, and compliant financial solutions.

About Arf

Arf offers innovative liquidity and settlement solutions tailored for global payments companies. Built on PayFi Stack, Arf provides seamless working capital and real-time settlement capabilities, empowering businesses to scale operations and achieve exponential growth. Based in Switzerland, Arf operates as a regulated financial institution. https://arf.one/

About LuluFin

LuLu Financial Holdings is a leading global financial services provider, offering a wide range of services including cross-border payments, currency exchange, and financial technology solutions. With over 350 customer engagement centers in over 10 countries across the Middle East, Indian subcontinent and APAC regions, and a commitment to innovation and customer satisfaction, LuLu Financial Holdings continues to set benchmarks in the financial services industry. https://www.lulufin.com/

About PayFi

PayFi—an open, modular framework introduced by Huma Finance— represents the new frontier of real-world asset-backed finance. It enables real-time settlement liquidity by leveraging tokenized assets, providing faster, more efficient, and transparent financial solutions for global payment companies. By incorporating PayFi, financial institutions can unlock liquidity from real-world assets, facilitating exponential growth and reducing reliance on traditional working capital constraints.

 

 

SOURCE Arf

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BOE shines at CES 2025 with cutting-edge technologies, leveraging the “HERO” Initiative to unlock a smarter future across diverse scenarios

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LAS VEGAS, Jan. 8, 2025 /PRNewswire/ — Held in Las Vegas, the United States from January 7 to 10, the Consumer Electronics Show 2025 (CES 2025) stands as a barometer of the global consumer electronics market. Chinese display giant BOE, along with its automotive display arm BOE Varitronix Limited, showcases more than 60 innovative technologies and products as well as IoT solutions at the trade show. For the first time in overseas markets, the company released its “HERO” (Healthiness, Entertainment, Relaxation, and Office) initiative for the era of smart vehicles, presenting an extravaganza of technology to the industry peers and global visitors. Thanks to its leading position in technological innovation and applications, BOE is recognized as the “CES Innovation Awards: 2025 Honoree in In-Vehicle Entertainment” for its Automotive Slidable OLED Display. This is a strong testament to the company’s dedication to empowering countless application scenarios with its “Empower IoT with Display” strategy and to building the “Powered by BOE” innovation ecosystem.

Of note, the BOE booth at CES 2025 is a substantial upgrade over previous years, from the exhibition area to the number of exhibits and forms of display. The booth, which is twice the size of last year, consists of eight exhibition zones, including the smart cockpit central exhibition zone, the exhibition zone dedicated to BOE’s three technology brands, the innovative automotive display application exhibition zone, and the integrated exhibition zone demonstrating the four scenarios of “HERO” (Healthiness, Entertainment, Relaxation, and Office). A total of 13 first-of-its-kind products are on display, setting new trends in the industry and intuitively immersing visitors in the charm of technology. The Stoneridge Innovation Truck, a partnership between BOE Varitronix Limited and Stoneridge, is definitely an eye-catcher. The state-of-the-art digital cockpit based on a container draws a lot of attention.

Three pacesetting display technology brands

In 2021, BOE launched the first technology brand in China’s semiconductor display industry, leading the industry toward more realistic, higher-end, smarter, and greener display. BOE works with its partners to continuously enhance user experiences through technological advancement and push the industry from a price-focused “zero-sum game” to value-focused “collaborative development.”

At CES 2025, BOE shows off its latest technologies and first-release display solutions empowered by the three technology brands.

Among them, the UB Cell Smart Display backed by high-end LCD technology ADS Pro boasts an ultra-high contrast of 3,000:1, ultra-low reflectivity of 0.7%, and an impressive 95% BT2020 color gamut coverage. The overall display effect is even better than that of OLED display, creating a viewing experience unlike any other. Furthermore, the UB Cell Smart Display innovatively combines the PNL integrated temperature sensor with the ambient light sensor for the first time. Equipped with an AI assistant, it can detect the surroundings and automatically adjust the display mode based on ambient light and temperature, ensuring that the screen content is perfectly matched to the environmental brightness for an optimal viewing experience. This product adopts BOE’s pioneering dynamic localized refresh technology, delivering a notable improvement in smoothness and realizing smart interactions while reducing power consumption.

The 31.6″ Spliced Slidable Display empowered by f-OLED is the largest spliced slidable automotive display in the industry. It can achieve four display states in three sizes between 31.6 inches and 17.6 inches. BOE also showcases its Foldable+Curvable Flexible Automotive Display, including a 15.05″ electric foldable display and a 17″ curved breathing central display. The curved breathing display can effortlessly switch between curved and flat modes, and the foldable passenger entertainment display with a bend radius of merely 3mm can be easily unfolded or stowed as needed, offering both flexibility and convenience.

BOE’s 31.5″ 4K chip-on-glass (COG) active matrix (AM) Mini LED monitor is the largest of its kind in the industry. This product empowered by its high-end MLED technology brand α-MLED has as many as 4,608 light-emitting diodes and 1,152 zones for precise light control. It features a million-level contrast, ultra-high brightness up to 1,000 nits, 144Hz refresh rate, and up to 99% coverage of the DCI-P3 color gamut, well satisfying the needs of multiple scenarios such as gaming, audio/video editing, graphic design, and in-vehicle passenger entertainment.

A revolutionary smart cockpit experience

With the maturity of 5G and AI technologies and the accelerated popularization of new scenarios and applications, smart cockpit is becoming the “third space” in mobility scenarios. At CES 2025, BOE, along with BOE Varitronix Limited, exhibits pioneering “HERO” smart cockpit technologies as part of the “HERO” initiative. It showcases 10 disruptive automotive devices, including the intelligent steering wheel, wooden display, haptic and Force sensing system, glasses-free 3D display, and switchable privacy display. Among them, five products have made their global debuts. These exhibits offer an integrated smart cockpit solution across the Healthiness, Entertainment, Relaxation, and Office scenarios.

In 2023, BOE launched the “HERO” initiative for the era of smart vehicles, in a joint endeavor with global partners to deliver new smart cockpit experiences. Under this initiative, BOE has widely applied its cutting-edge display technologies and solutions to the auto sector. According to data from the global research leader Omdia, in the first three quarters of 2024, BOE stayed on the top spot worldwide by both shipments and shipment area of automotive displays.

BOE’s third-generation “HERO smart cockpit” is featured in the central exhibition zone. Its intelligent steering wheel adopts the world’s first under-screen ultrasonic fingerprint technology. With fingerprint recognition, users can effortlessly recall and adjust their personalized settings for the seat, steering wheel, and rearview mirror at the touch of a button. This intelligent steering wheel is equipped with an ECG&HOD system, which can achieve real-time detection of the driver’s electrocardiogram and heart rate to help avoid fatigue driving and other dangerous driving behaviors. Plus, the smart cockpit is equipped with a 12.3″ wooden display, a privacy display designed for private calls and meeting scenarios, and BOE’s first direct-display RGB in-vehicle interactive light, setting the pace for automotive display technology.

The innovative automotive display application exhibition zone features a host of futuristic smart cockpit technologies. For example, the smart cockpit featuring a 44.8″ panoramic head-up display (PHUD) adopts the cutting-edge oxide technology and Mini LED backlight system with 2,850 zones. It achieves a whopping 9K resolution, peak brightness of 7,000 nits (10% area), and million-level contrast. BOE’s self-developed distortion correction algorithm and 8K+system ensure clear windshield projection and accurate information transmission. These innovative technologies, along with the 17.3″ ceiling screen and the industry’s first 15.05″ flexible OLED Edge 3D central display, will revolutionize travel experiences moving forward.

Redefining diverse applications with IoT solutions

At CES 2025, BOE demonstrates a variety of IoT solutions across the Healthiness, Entertainment, Relaxation, and Office scenarios, offering visitors a highly interactive experience.

In terms of Healthiness, the 30.9″ 12MC Diagnostic Display is a top-tier diagnostic monitor for medical applications, primarily used for medical imaging. It has a rich set of technical advantages such as high resolution, high contrast, high brightness, and quick response, presenting smooth, high-density, and high-definition images without graininess.

In terms of Entertainment, BOE showcases a wealth of pacesetting gaming display devices jointly developed with THUNDEROBOT, Lenovo, MECHREVO, and other partners, giving visitors a fun, engaging, and interactive experience. Among them, the ROG Strix 27 XG27UCS monitor empowered by ADS Pro features 4K resolution and 178-degree viewing angles, guaranteeing consistently clear and exquisite image quality from all viewing angles. The first ever glasses-free 3D PC Handheld Game Console features BOE’s exclusive 11″ 2.5K 120Hz display and independently developed glasses-free 3D display technology and eye tracking system. It is the first handheld game console to offer seamless switch between 2D and 3D visual effects with no extra devices required, immersing players in a groundbreaking entertainment experience.

As to Relaxation scenarios, BOE harnesses technology to craft an immersive camping scene that allows visitors to feel as though they are surrounded by nature. In particular, the world’s first New π Multimedia Charging Pile features not only a high-tech touch but also an exceptionally slim and exquisite design. This charging pile adopts the latest split flexible charging scheme of BOE Energy Technology, with the maximum output power of 250KW. It is capable of fast-charging two electric vehicles at the same time, significantly enhancing the charging efficiency. Each side is equipped with a 55″ outdoor screen, a 10.1″ touchscreen, and breathing lights that indicate the charging status and progress. By ingeniously combining charging and digital outdoor advertising, this charging pile creates a novel, entertaining, and efficient charging experience for users.

Designed to meet the growing remote work and temporary office needs, the Smart Whiteboard C100 is a magnet at the trade show. This device enables multi-screen collaboration between meeting room and vehicle scenarios, allowing users to enjoy a seamless meeting experience on the move. Furthermore, it comes with cascaded microphones, a panoramic camera, a portable printer, and an audio recording shield, enhancing the user experience, productivity, and information security for remote work.

With the accelerated fusion of new technologies and applications, the wave of intelligence is propelling diversification in various industries such as smart vehicles. Guided by the “Empower IoT with Display” strategy, BOE will leverage its leading capabilities in technology, market, and smart manufacturing and its advantages in industrial resources to create an industrial collaboration ecosystem, share resources with its partners, and work together to build a better future.

 

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SOURCE BOE Technology Group Co., Ltd.

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