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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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TVCMALL Leads Wholesale Innovation for Simplified Online Retail Business Success at CES 2025

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LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — CES 2025, one of the largest tech events globally, concluded with over 4,000 exhibitors showcasing breakthroughs in AI, digital health, and mobility. TVCMALL, a leading one-stop B2B wholesaler, made its second consecutive appearance at the event, delivering comprehensive solutions and introducing a new brand, LEMONDA. With a focus on eco-friendly products and AI-driven accessories, TVCMALL is redefining the wholesale experience for global entrepreneurs.

Revolutionizing Wholesale with AI and Sustainability
TVCMALL is a one-stop platform offering over 1 million SKUs, including mobile accessories, smart tech, and consumer electronics. At CES 2025, the company presented a range of cutting-edge products, from biodegradable phone cases to AI-driven gadgets like Meta Quest 3 headbands, wireless chargers, power banks, and gaming accessories. As part of its innovative approach, TVCMALL launched LEMONDA, a lifestyle brand focused on sustainability. Featuring lightweight, corrosion-resistant resin smartwatch straps and eco-friendly packaging, LEMONDA aligns with the growing demand for green solutions in tech, further cementing TVCMALL’s commitment to a sustainable future.

Comprehensive Solutions for Retailers
TVCMALL simplifies sourcing with an extensive catalog and AI-powered ordering systems, allowing businesses to streamline purchasing and make data-driven decisions. With no minimum order quantity (MOQ) on most products and a flexible dropshipping service, TVCMALL supports businesses with customized solutions tailored to their needs. Whether through personalized packaging or exclusive designs, TVCMALL helps entrepreneurs enhance their brand visibility and stay competitive. The platform also integrates with Amazon and custom APIs for a seamless experience.

Commitment to Quality and Global Growth
TVCMALL is dedicated to helping entrepreneurs succeed in both established and emerging markets. By offering competitive prices, fast delivery, and in-depth market insights, TVCMALL empowers businesses to expand into regions like Europe, Southeast Asia, and Brazil. The company works with trusted partners like Dux Ducis, CaseMe, and Nillkin, ensuring the reliability and quality of its offerings. Additionally, TVCMALL provides value-added services like product photography, factory inspections, and certifications (CE, RoHS), assisting clients with smooth market entry.

“At TVCMALL, our vision is to build a more generous and thriving world,” said Leo Chen, Founder and Chairman of TVCMALL. “CES 2025 is not just an exhibition for us; it’s an opportunity to collaborate, innovate, and inspire a new era of retail and technology.”

For more information, please visit www.tvcmall.com or contact sales@tvcmall.com.

Photo – https://mma.prnewswire.com/media/2593486/TVCMALL_booth_layout_at_CES_2025.jpg

View original content:https://www.prnewswire.co.uk/news-releases/tvcmall-leads-wholesale-innovation-for-simplified-online-retail-business-success-at-ces-2025-302345615.html

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The green power trading electricity volume in Turfan has surged significantly in 2024

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TURFAN, China, Jan. 11, 2025 /PRNewswire/ — On January 9, 2024, data released by Xinjiang Power Trading Centre Co., Ltd. indicated that the green power trading electricity volume in the Turfan region reached 0.97 billion kWh, representing a remarkable year-on-year increase of up to 14 times. This substantial growth underscores the region’s successful transition towards green energy.

State Grid Turfan Power Supply Company has taken proactive measures to expedite the development of the green power market. The company has facilitated the government’s introduction of a renewable energy consumption action plan, specifying new energy consumption ratios for key energy-consuming entities and establishing a market mechanism with a high proportion of new energy. These efforts have effectively promoted the “new energy participation in all trading varieties of the 24-hour curve” trading model and ensured continuous market opening on working days, thereby better accommodating the fluctuating characteristics of new energy output.

Furthermore, State Grid Turfan Power Supply Company established a green power certificate service station in Gaochang District, providing customers with convenient green power trading services and fostering a green consumption atmosphere throughout society. During the Autonomous Region Tourism Development Conference and the Turfan Grape Festival, the company achieved 100% green power supply and assisted three export-oriented enterprises in achieving low-carbon transformation, thereby enhancing the international influence of their brands.

Looking ahead, State Grid Turfan Power Supply Company will continue to implement measures to expand its “Power Supply + Energy Efficiency Bill” service, guiding society towards more efficient, economical, and environmentally friendly electricity usage, and contributing to the clean and low-carbon transformation of local energy resources.

View original content:https://www.prnewswire.com/apac/news-releases/the-green-power-trading-electricity-volume-in-turfan-has-surged-significantly-in-2024-302348525.html

SOURCE State Grid Turfan Power Supply Company

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Equipboard Unveils Sleek Redesign to Enhance Music Gear Discovery for Musicians Worldwide

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Redesign Introduces Modern Features, Streamlined Navigation, and Richer Content to Inspire and Support Music Makers Globally

AUSTIN, Texas, Jan. 11, 2025 /PRNewswire-PRWeb/ — Equipboard, the leading online community for musicians and gear enthusiasts, announces the launch of its newly redesigned website. With a modern look, streamlined navigation, and powerful new features, the redesign sets a new standard for connecting artists, producers, and hobbyists with the tools they need to create music.

Since its inception in 2013, Equipboard has grown into the world’s largest database of music gear used by professionals and amateurs alike. The redesign reflects the platform’s commitment to fostering creativity, offering transparent information, and making gear discovery and purchasing easier and more enjoyable for its global user base.

What’s New?

Equipboard’s redesign is more than just a fresh coat of paint. It introduces a host of improvements aimed at elevating the way users explore, share, and connect over their favorite gear:

    Modernized Design: A sleek, responsive layout ensures a seamless experience across all devices, with improved readability and accessibility.    Enhanced Navigation: Faster, more intuitive browsing helps users discover gear, artists, and inspiration effortlessly. Whether searching for a guitarist’s pedalboard or a producer’s go-to synth, the information is now at their fingertips.    Richer Content: Equipboard now features in-depth guides, expert-curated collections, and a revamped artist gear section to inspire and inform users at all levels of their musical journey.    Personalized Experience: Registered users can now enjoy a more tailored interface, saving their favorite gear and creating wishlists for their next creative adventure.    Price Comparisons Across Leading Retailers: Equipboard helps musicians make informed decisions by comparing prices on music gear from top retailers, ensuring they get the best value for their investment.    Community-Focused Features: New tools make it easier for users to contribute to Equipboard’s ever-growing database, ensuring the platform remains the most trusted source for music gear information.

“Equipboard has always been about empowering musicians by connecting them with the tools and insights they need,” said Michael Pierce, Co-Founder. “This redesign reflects our commitment to innovation and community, creating an experience that’s as inspiring as the gear our users discover. From in-depth artist insights to real-time price comparisons, we’re excited to see how these improvements help musicians worldwide make better gear choices and create amazing music.”

About Equipboard

Equipboard is the ultimate online resource for musicians and gear enthusiasts. With a mission to provide transparent, community-driven information about the gear used by artists and professionals, Equipboard has become a trusted destination for millions of music creators. The platform also simplifies the buying process with its innovative price comparison tool, helping users find the best deals from leading retailers. From electric guitars to studio monitors, Equipboard’s extensive database helps users make informed decisions about their music-making journey.

The redesigned Equipboard is now live at https://equipboard.com, offering a fresh look and enhanced tools to support music creators in exploring the gear behind their favorite artists’ sound.

Media Contact

Michael Pierce, Equipboard, 888-888-8888, contact@equipboard.com, https://equipboard.com/

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SOURCE Equipboard

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