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Electronic Hookah Market to Grow by USD 1.10 Billion (2024-2028) as Consumer Disposable Income Rises; AI-Redefined Market Landscape Report – Technavio

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NEW YORK, Oct. 31, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global electronic hookah market  size is estimated to grow by USD 1.10 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  13.4%  during the forecast period. Growing disposable income among consumers is driving market growth, with a trend towards rise in adoption of electronic hookah among millennials. However, health issues associated with use of electronic hookahs  poses a challenge.Key market players include Aspire Vape Co., Eleaf Group, GD SIGELEI Electronic Tech Co. Ltd., Geekvape, IJOY Group, Innokin Technology Ltd., Joyetech Electronics Co Ltd., JWell, LOSTVAPE, Rincoe Technology Co. Ltd ., Shenzhen dovpo Technology Co. Ltd., Shenzhen Electronic Technology Co Ltd., Shenzhen FreeMax Technology Co. Ltd., Shenzhen Hellvape Technology Co. Ltd., Shenzhen IVPS Technology Co Ltd., Shenzhen Kanger Technology Co. Ltd., Shenzhen Smoore Technology Ltd, Shenzhen UWELL Technology Co. Ltd., Stefen Zhang and Vandy Vape Technology Co. Ltd., and VOOPOO.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Disposable and Rechargeable), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Aspire Vape Co., Eleaf Group, GD SIGELEI Electronic Tech Co. Ltd., Geekvape, IJOY Group, Innokin Technology Ltd., Joyetech Electronics Co Ltd., JWell, LOSTVAPE, Rincoe Technology Co. Ltd ., Shenzhen dovpo Technology Co. Ltd., Shenzhen Electronic Technology Co Ltd., Shenzhen FreeMax Technology Co. Ltd., Shenzhen Hellvape Technology Co. Ltd., Shenzhen IVPS Technology Co Ltd., Shenzhen Kanger Technology Co. Ltd., Shenzhen Smoore Technology Ltd, Shenzhen UWELL Technology Co. Ltd., Stefen Zhang and Vandy Vape Technology Co. Ltd., and VOOPOO

Key Market Trends Fueling Growth

The electronic hookah market is experiencing notable growth, particularly among millennials and Generation Z. According to demographic data from July 1, 2022, to July 1, 2023, these generations have significantly increased their population weight. In Canada, Gen Z has surpassed Generation X, and in China, millennials account for 28% of total income among active consumers. India also has a substantial millennial population of 440 million, making up 34% of the country’s total population. These demographic shifts present a significant market opportunity for electronic hookah products. Moreover, hookah smoking prevalence is high among young people in the Eastern Mediterranean region, with some countries reporting higher hookah use among children than cigarette smoking. In the US, 8.4% of university students are current hookah smokers, and 30.4% of hookah users have never smoked cigarettes. In the EU, 16% of respondents had tried a hookah at least once. Prevalence rates in South Asia were highest in Bangladesh for men (1.3%) and India for women (0.6%). These trends suggest a growing acceptance and adoption of electronic hookahs among millennials, influenced by cultural shifts and demographic changes across various regions. 

The Electronic Hookah Market is thriving, with trends like Flavor Options, Vaping Culture, and Smart Technology Integration driving growth. E-hookahs offer a wide range of Battery-powered heating systems and E-liquids with various Flavors and Nicotine concentrations, catering to non-traditional tobacco product preferences. Indoor and Outdoor Smoking settings, Social Gatherings, and Nightclubs are popular venues for e-hookah use. Rechargeable, Disposable, and Portable E-hookahs, LED E-hookahs, and EHookahs are popular choices. E-commerce platforms and Online Sales Channels have made purchasing E-hookahs convenient. Public health considerations and Healthier Lifestyle choices are influencing the market, with Nicotine substitutes and Mechanical Ecigarettes (Mods) like Timesvape gaining traction. E-hookah Design and Flavor Selections continue to innovate, with Dessert and Candy flavors leading the way. However, Health Hazards remain a concern, and Retail Channels offer education and guidance. Overall, the Electronic Hookah Market represents Modern Smoking Alternatives for consumers. 

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Market Challenges

The electronic hookah market faces challenges due to health concerns associated with its use. Although electronic hookah vapor contains fewer toxicants than traditional tobacco smoke, it still poses risks. Users may inhale harmful chemicals like nicotine and flavoring agents. Elevated systemic markers of inflammation, such as high-sensitivity C-reactive protein, fibrinogen, and tumor necrosis factor-α, are linked to inflammatory conditions and chronic diseases. Propylene glycol and glycerol in electronic hookahs can irritate airways, leading to respiratory issues, particularly for those with pre-existing conditions. Cardiovascular health is also at risk due to toxic chemicals damaging blood vessels and increasing the risk of cardiovascular disease. Studies indicate electronic hookah use can lead to increased heart rate and blood pressure. Vaping can cause permanent lung scarring, leading to long-term health problems like asthma and COPD. Reproductive health is another concern as chemicals inhaled during electronic hookah use can negatively impact fertility. These health risks underscore the need for continued research and regulation in the electronic hookah market.The Electronic Hookah Market faces several challenges as it seeks to expand its customer base. Flavor options are crucial, with consumers desiring a wide range of dessert and candy flavors, as well as nicotine substitutes. Vaping culture is growing, but health concerns persist, particularly regarding e-liquids and nicotine concentrations. Smart technology integration, such as rechargeable and portable e-hookahs, LED lights, and app control, is essential to meet consumer demands. Indoor and outdoor smoking restrictions impact sales channels, with e-commerce becoming increasingly important. Public health considerations require careful attention, particularly regarding disposable e-hookahs and hookah culture. Retail channels and online sales platforms must adapt to offer modern smoking alternatives and cater to changing consumer preferences. E-hookahs, including rechargeable, disposable, and portable models, offer a healthier lifestyle alternative to traditional hookahs and mechanical ecigarettes (mods) like Timesvape.

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Segment Overview 

This electronic hookah market report extensively covers market segmentation by

Type 1.1 Disposable1.2 RechargeableDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Disposable-  The disposable segment is experiencing notable growth in the global electronic hookah market. These devices cater to consumers seeking a hassle-free vaping experience, with no complexities associated with traditional hookahs or reusable electronic hookahs. Disposable electronic hookahs are designed for ease of use, making them an attractive option for both novice and experienced users. Pre-filled with e-liquids and ready to use straight out of the package, they eliminate the need for refilling e-liquids or charging batteries. Primarily, young adults and busy professionals are the demographic for disposable electronic hookahs. These users value convenience and simplicity in their vaping choices. Additionally, disposable electronic hookahs are popular among travelers and social vapers due to their portability. In response to environmental concerns, manufacturers are focusing on sustainability. Disposable electronic hookahs minimize environmental impact compared to traditional hookahs, as they require fewer replacements of parts and accessories, contributing to a lower carbon footprint. This eco-friendly aspect is particularly appealing to environmentally conscious consumers.

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Research Analysis

Electronic Hookah, also known as EHookah or e-hookahs, is a modern smoking alternative that utilizes battery-powered heating elements to vaporize e-liquids instead of traditional charcoal and tobacco. These devices, similar to Mechanical Ecigarettes (Mods) from RNV Designs and Timesvape, offer rechargeable and customizable options for vapers. E-hookahs provide a wide range of flavor selections, including dessert flavors, to cater to diverse preferences. While they share some similarities with vaping, they differ in their e-liquid compositions, which may include nicotine concentrations or none at all. The electronic hookah market has grown significantly due to its appeal as a healthier lifestyle choice compared to traditional smoking. Retail channels and online platforms have made e-hookahs easily accessible to consumers, expanding the vaping culture and fueling flavor innovation. However, public health considerations are essential, as e-hookahs, like all nicotine delivery systems, come with health hazards. It’s crucial to be aware of these risks and make informed decisions when using these non-traditional tobacco products. Disposable e-hookahs and e-commerce platforms have further broadened the accessibility and convenience of these modern smoking alternatives. As the electronic hookah market continues to evolve, it’s essential to consider the impact on hookah culture and the potential long-term health effects.

Market Research Overview

Electronic Hookah, also known as EHookah or Mechanical Ecigarettes (Mods), is a modern smoking alternative that has gained popularity as a healthier lifestyle choice. These battery-powered devices heat e-liquids, providing a vapor experience similar to traditional smoking, but without the harmful tar and carbon monoxide found in tobacco smoke. E-Hookahs come in various designs, from rechargeable and portable models to LED-lit and disposable options. Timesvape and other brands offer a wide range of flavor selections, from fruity and dessert flavors to candy and nicotine substitutes. E-Hookahs are available through various retail channels, including brick-and-mortar stores and online sales channels. The convenience of online shopping has made it a preferred choice for many consumers. E-Hookahs are popular for indoor and outdoor smoking, social gatherings, and even in nightclubs. However, public health considerations and health hazards associated with vaping are a concern for some. Smart technology integration in E-Hookahs allows for customizable temperature settings and flavor options. E-liquids, which come in various nicotine concentrations, are an essential component of E-Hookahs. The Electronic Hookah Market continues to grow, offering innovative flavors and designs to cater to the ever-evolving vaping culture.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeDisposableRechargeableDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Hong Kong Top 5 “Across-the-Border Hotpot”

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HONG KONG, Nov. 1, 2024 /PRNewswire/ — Hotpot is a popular option in Hong Kong. In recent years, brands from mainland China, Singapore, and Taiwan have entered, providing diverse flavors. To highlight the most talked-about brands, DailyView analyzed online data from the past three months across Hong Kong and Macau, showcasing the top five popular hotpot spots.

Data Source: “DailyView Hong Kong” uses KEYPO.ai to track discussions across over 20,000 news websites, social media, forums, and blogs in Hong Kong and Macau, measuring popularity by the volume of posts and comments.

No.1 Rododo Hongkong (1,972 mentions)
This Taiwanese hotpot brand offers large portions and great value, becoming a favorite among Hong Kong diners. Known for hearty portions and high-quality meats like U.S. beef, Australian lamb, and Wagyu, it serves meat lovers with flair. Highlights include a birthday “meat cake” layered with various meats and a self-serve sauce bar to customize flavors. The unique features have made Rododo the most-discussed brand.
Customer feedback: “Perfect spot to satisfy a meat craving!”

No.2 Haidilao Hongkong  (1,620 mentions)
Haidilao is famous for its high-standard customer service, providing perks like free manicures, phone charging, and snacks while waiting. Specialty broths like spicy Sichuan, tomato, and mushroom cater to different tastes, and their noodle-pulling performance adds fun to the dining experience.
Customer feedback: “Enjoying five-star service while having hotpot!”

No.3 Beauty In The Pot (1,220 mentions)
From Singapore, Beauty In The Pot promotes a beauty-enhancing hotpot experience. Popular items include the collagen-boosting “Beauty Broth” and a range of health-oriented broths with ingredients from Sichuan, Taiwan, and Japan. The restaurant’s soft pink decor creates a cozy atmosphere, ideal for friend gatherings or dates.
Customer feedback: “Healthy, beauty-boosting broths with no guilt!”

No.4 Coucou Hotpot‧ Tea Break (1,027 mentions)
CouCou attracts younger customers with innovative broths and special student discounts. Popular choices include spicy Sichuan and sauerkraut pork broths. The stylish decor and individual table lamps create a comfortable, private setting, making it a popular spot for couples and friends.
Customer feedback: “Can’t wait to have more hotpot here!”

No.5 Master Beef Hotpot (671 mentions)
Master Beef is renowned for its unlimited meat buffet, especially thinly sliced marbled beef that melts in your mouth. The self-service station offers a variety of fresh vegetables, tofu, and Taiwanese snacks, creating a satisfying experience for gatherings and casual meals.
Customer feedback: “Great choice for an all-you-can-eat beef feast!”

Analysis Notes:
The data for this analysis was using 《KEYPO Big Data Intelligence》, covering the period from July 14 to October 13, 2024. KEYPO, the AI-powered tool monitors over 10,000 websites monthly across Hong Kong, Macau, and Taiwan, processing over 150 billion Chinese-language data points from Facebook, YouTube, Threads, TikTok, Instagram, news outlets, forums, and blogs. The ranking reflects the discussion volume and sentiment around each topic.

CONTACT: Brenda Chang, brenda.chang@big-data.com.tw

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SOURCE DailyView Hong Kong

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NUS launches BLOCK71 Nagoya to strengthen Japan-Southeast Asia innovation exchange

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BLOCK71 Nagoya will also be the gateway for Japanese start-ups to Southeast AsiaNUS partners ENEOS Holdings, Inc. to facilitate bilateral cooperation in growing innovation and enterprise ecosystems in both countries

NAGOYA, Japan, Nov. 1, 2024 /PRNewswire/ — NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS) has launched BLOCK71 Nagoya today, marking its operational opening for start-ups. BLOCK71 Nagoya aims to create a technology-focused ecosystem connecting Japan and Southeast Asia, providing Southeast Asian start-ups with essential support to navigate Japan’s cultural and business nuances for successful expansion. At the same time, it will support Japanese start-ups to grow and scale effectively in Southeast Asia.  

Nagoya is a key hub for technology start-ups looking to expand into Southeast Asia, backed by Aichi’s strength as Japan’s manufacturing powerhouse, which is home to leading companies in automotive, aviation, and robotics. These industries provide a strong foundation for technological growth and offer valuable collaboration opportunities with established corporations.

The opening of the centre was graced by His Excellency Hideaki Omura, the Governor of Aichi Prefecture, who was joined by Professor Tan Eng Chye, NUS President; Associate Professor Benjamin Tee, Vice President (Ecosystem Building), NUS Enterprise; Professor Naoshi Sugiyama, Nagoya University President; and Mr Hirotaka Sahashi, STATION Ai Corporation President and CEO.

BLOCK71 in Japan – a bridge between Southeast Asia and Japan

BLOCK71 is a technology-focused ecosystem builder and global connector that catalyses the start-up community. It has established itself as a leading force in global entrepreneurship, with offices spanning across Southeast Asia, the United States of America, China, and now Japan. As NUS’ first BLOCK71 location in Japan, the opening of the Nagoya office marks a significant addition to this network, representing a strategic move to promote market entry for Southeast Asian ventures (see Annexe A for background on BLOCK71).

Unlike other BLOCK71 global offices that focus on incubation, BLOCK71 in Japan prioritises market launch activities due to Japan’s mature and established start-up landscape. The Japanese offices will provide Japanese start-ups with the resources and networks to expand into Southeast Asia, while enabling Southeast Asian start-ups to establish a foothold in Japan.

Japan’s strong tradition of innovation presents immense opportunities for collaboration with Southeast Asia’s dynamic start-up ecosystems. BLOCK71 Nagoya will empower Japanese corporations and start-ups by connecting them to a broad network of Southeast Asian start-ups, investors, and industry leaders, fostering partnerships that drive innovative projects and facilitate market expansion. Similarly, Southeast Asian start-ups aiming to enter the Japanese market can benefit from BLOCK71 Nagoya to connect them with key stakeholders in the local innovation ecosystem.

“BLOCK71 Nagoya is not only a launchpad for Southeast Asian start-ups entering Japan, but also a gateway for Japanese start-ups looking to break into the diverse and rapidly growing Southeast Asian markets. By leveraging BLOCK71’s vast networks and experience, we aim to provide Japanese entrepreneurs with the tools, insights, and partnerships needed to navigate these emerging economies successfully,” said Professor Tan Eng Chye, NUS President.

BLOCK71 Nagoya will prioritise establishing key business milestones, including developing the Proof of Concept (PoC), fundraising, forging contracts, and integrating within BLOCK71’s extensive global network and quality start-up pool. Additionally, BLOCK71 in Japan will not only provide physical office spaces within their partners’ coworking space in key cities, but also deploy dedicated staff across the country to identify growth opportunities for start-ups by capitalising on Japan’s multifaceted market landscape.

Collaboration with ENEOS to enhance innovation

As part of its commitment to driving innovation, NUS Enterprise has established a strategic partnership with ENEOS Holdings, Inc. (ENEOS), one of the largest energy companies in Japan, through a Memorandum of Understanding (MOU) signed on 31 October 2024.  The MOU was signed by Professor Tan Eng Chye, NUS President and Mr Toru Naganuma, General Manager, Emerging Business Development Department, ENEOS.

The collaboration aims to enhance venture-building activities for NUS start-ups by providing them with exposure to real-world industry challenges. Together, both organisations will identify promising Southeast Asian start-ups and innovative solutions that can address critical industry issues. Key focus areas include mobility, decarbonisation, the circular economy, and artificial intelligence.

In addition, this partnership enables established corporations like ENEOS to maintain competitiveness through continuous innovation in an ever-evolving global economy. Start-ups, recognised for their agility and creativity, often experiment with cutting-edge technologies and business models that can drive corporate innovation. By partnering with start-ups, ENEOS can respond more swiftly to market changes, diversify its product offerings, and penetrate new markets and customer segments. For NUS start-ups, this partnership opens up opportunities to expand into the Japanese market by addressing real-world challenges posed by ENEOS. Additionally, participating start-ups will gain valuable insights into the operations of traditional Japanese companies, enhancing their understanding of this unique market.

“The partnership between NUS Enterprise and ENEOS Holdings will leverage the strengths of our extensive BLOCK71 ecosystem and network to foster innovation and entrepreneurship. This collaboration connects our start-ups with real-world industry challenges, enhancing their ability to develop solutions that meet the evolving needs of the energy sector. By integrating the capabilities of NUS Enterprise with ENEOS’ expertise, we aim to create a vibrant ecosystem where agility and creativity drive impactful advancements. Together, we are committed to nurturing the next generation of Southeast Asian start-ups that will shape the future of sustainable energy and technology,” added Professor Tan Eng Chye, NUS President.

“Collaborating with NUS Enterprise provides ENEOS with a unique opportunity to harness the dynamic energy of Southeast Asia’s start-up ecosystem. By engaging with innovative start-ups, we can gain fresh insights and co-create solutions that address the pressing challenges in our industry. This partnership will not only enhance our ability to adapt to market changes but also position us at the forefront of sustainable energy advancements. We are eager to work alongside these visionary entrepreneurs to drive meaningful progress in the energy sector,” said Mr Miyata Tomohide, Representative Director, CEO of ENEOS.

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SOURCE NUS Enterprise

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Aker Horizons ASA: Third-quarter results 2024

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FORNEBU, Norway, Nov. 1, 2024 /PRNewswire/ — Aker Horizons ASA (OSE: AKH), a developer of green energy and industry, today announced results for the third quarter 2024. Aker Horizons’ net capital employed stood at NOK 6.1 billion, a decrease of NOK 1.0 billion from the second quarter, mainly driven by impairments in Mainstream. The company reported a cash position of NOK 3.0 billion and an undrawn credit facility of EUR 500 million, giving available liquidity of NOK 8.8 billion.

Third quarter main developments:

The JV between Aker Carbon Capture (ACC) and SLB was renamed SLB Capturi and announced its first US-based project:

SLB Capturi was awarded a FEED contract by CO280 Solutions for a large-scale carbon capture plant at a pulp and paper mill on the US Gulf Coast.The Board of Directors of ACC continues the process of determining the future strategy and structure of ACC and will communicate conclusions within Q1 2025.

Mainstream Renewable Power (Mainstream) is delivering on its pipeline in South Africa and focuses on business optimization:

The 50 MW solar project Ilikwa in South Africa reached financial close.The commercial margin of the Andes platform in Chile improved in Q3.Mainstream is streamlining its business to focus on growth in core markets South Africa, Australia and the Philippines, with continued investment in key offshore projects.

Aker Horizons Asset Development (AAD) completed a concept optimization for Narvik Green Ammonia; strong data center interest for sites in Northern Norway:

A concept optimization for the Narvik Green Ammonia project has been concluded with a decision to move the project to Lallasletta.An MoU was signed with Masdar to explore collaboration and investment opportunities in green hydrogen.Data center players are showing significant interest in Kvandal and other industrial sites in the Powered Land site portfolio.

SuperNode secured funding to advance superconducting transmission technology development:

Significant grants were secured from Irish and UK institutions to fund research & development.SuperNode opened a new Cable Technology Centre in Blyth, UK, enabling first production of superconducting cables for bulk electricity transmission

Lars P. Sørvaag Sperre, CEO of Aker Horizons, commented:

“We are pleased to see ACC and SLB Capturi reaching material milestones this quarter to enter the important US carbon capture market. Mainstream will now embark on a business plan that focuses on growth in selected core markets. This will enable Mainstream to speed up the development of projects. Furthermore, we have continued to develop and explore options for Aker Horizon’s green hydrogen projects and the Powered Land sites. It is really encouraging to see the strong interest from the data center industry around our activities in the Narvik area”.

Aker Horizons reports net capital employed to reflect a portfolio composed mainly of unlisted assets. Net capital employed includes Aker Horizons’ initial investment in the portfolio company, adjusted for any profit or loss and any additional investments, adjusted for foreign exchange fluctuations. As of the third quarter, Aker Horizons had NOK 2.4 billion net capital employed in ACC, NOK 2.8 billion in Mainstream, NOK 543 million in AAD, NOK 197 million in SuperNode and NOK 242 million in other assets.

The Q3 2024 presentation is attached.

Aker Horizons’ CEO Lars P. Sørvaag Sperre and CFO Kristoffer Dahlberg, and Mainstream’s CEO Mary Quaney will present the main developments in the third quarter 2024 today at 08:30 CEST, followed by a Q&A session. The presentation, which is open to all, will be held in English and will be webcast on Aker Horizons’ website:

https://akerhorizons.com/investors 

For further information, please contact:

Stian Andreassen, Investor Relations, tel: +47 41 64 31 07, email: stian.andreassen@akerhorizons.com 

Mats Ektvedt, Media, tel: +47 41 42 33 28, email: mats.ektvedt@corporatecommunications.no 

About Aker Horizons

Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and hydrogen and develops industrial-scale decarbonization projects. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. www.akerhorizons.com 

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements in Regulation EU 596/2014 and the Norwegian Securities Trading Act § 5-12. This stock exchange announcement was published by Mats Ektvedt, Partner in Corporate Communications, on 1 November 2024 at 07:00 CET.

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

https://news.cision.com/aker-horizons/r/aker-horizons-asa–third-quarter-results-2024,c4059993

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