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Desert Control Released its Q3 2024 Report on 15 November 2024 and Provides Access to Company Update Webcast Materials

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SANDNES, Norway, Nov. 18, 2024 /PRNewswire/ — The company update webcast was hosted on 15 November 2024 at 10:00 AM (CET).

Please find below links to Desert Control’s Q3-2024 Report and Year-to-Date Company Update materials:

Q3-2024 Report and Interim Financial Results – Report: https://go.desertcontrol.com/dsrt2024q3report  Q3-2024 and YTD Company Update – Presentation: https://go.desertcontrol.com/dsrt2024q3presentation  Q3-2024 Company Update – Webcast Presentation Recording – Replay: https://go.desertcontrol.com/dsrt2024q3recording Q3-2024 Company Update – Webcast and Q&A – Written Transcript: https://go.desertcontrol.com/dsrt2024q3transcript

(Note: the transcript includes a complete Q&A recap with written answers to all questions of the extensive Q&A session and includes both the questions that time allowed cover in the webcast plus all additional submitted questions).

DSRT Q3 and YTD 2024: Company Update Summary

Desert Control continued its positive momentum in the third quarter of 2024, achieving milestones in market expansion and pilot progress, as well as generating its first licensing revenues from the Middle East. The company has year to date more than doubled deployed LNC volume, revenue, and pipeline value compared to the same period in 2023. Based on the current development of pilots and sales pipeline supported by groundbreaking technological advances, the company anticipates multiple complete golf courses fully deployed in 2025, several phase 2 deployments in high-value agriculture in the United States, and growing revenue streams from the Middle East.

The past quarter saw strong results from pilots in agriculture and landscaping, supporting negotiations for larger commercial projects in the United States. Growing traction in the Middle East further strengthens the foundation for growth under the royalty-based licensed operator model. Further, the post-quarter event of securing commitment for the first full-scale golf course deployment under a new outcome-based business model marks an important milestone.

Operational Highlights:

Solid Pilot Results Strengthen Validation and Support Negotiations for Larger Contracts in the United States

Landscaping Success in the U.S.: Landscaping pilots in California achieved over 25% irrigation savings, with some clients reporting water reductions exceeding 50%. These results drive negotiations for larger contracts as high water costs continue to rise.First Contract for a Complete Golf Course: On November 8th, Desert Control signed an agreement with Berkeley Country Club with potential value exceeding NOK 6 million under a new outcome-based business model, marking the first commitment for full-course LNC deployment in the U.S.Agricultural Gains: Harvest data from an LNC-treated date farm in Arizona showed nearly double the yield, underscoring LNC’s economic impact on high-value permanent crops and supporting Desert Control’s agricultural market expansion.

First Licensing Royalties from the Middle East

Revenue Milestone: Desert Control recorded its first licensing royalties from the Middle East. While modest, this revenue marks the beginning of a scalable revenue stream following the strategic shift to a royalty-based licensed operator model for the region. New Contracts and Expanding Pilots: A new contract for 1.8 million liters of LNC was secured for a UAE real estate project. Landscape nursery pilots in the UAE and Saudi Arabia demonstrate LNC’s effectiveness in the growing sustainable landscape management sector.

R&D and Technology Advancements Strengthen Delivery Capabilities for Current and Future Pipeline

Syngenta Partnership Accelerates R&D: Collaboration with Syngenta has shown promising lab results of synergies with LNC. Field trials in the Middle East, set for Q4 2024, aim to further validate the impact on soil health, crop yields, and water efficiency.Next-Gen Production System Progress & Siemens Partnership: Development of the next-generation LNC production system is on track, with capacity nearing the targeted 120,000 liters per hour. Achieving this milestone capacity will unlock large-scale opportunities that require high volumes within short time windows, enabling projects previously out of reach.

Financial Highlights:
In the first nine months of 2024, Desert Control reached a record number of installations, increased LNC deployment volumes, and more than doubled LNC revenue compared to the previous year. These achievements highlight enhanced operational efficiency driven by the new prototype LNC production system, streamlined integration with irrigation systems, and insights gained from pilots and prior projects.

Revenue Increase: Year-to-date LNC revenue totaled NOK 1.88 million, more than doubling from the same period in 2023. Total revenue and other income for Q3 2024 was NOK 0.18 million, up from NOK 0.01 million in Q3 2023.EBITDA Improvement: For the first nine months of 2024, EBITDA improved to NOK -44.95 million from NOK -60.81 million in the same period last year. Q3 2024 EBITDA was NOK -14.16 million, an improvement from NOK -17.9 million in Q3 2023, driven by efficiencies from transitioning to the licensed operator model.Cash Position: The company ended the quarter with a cash balance of NOK 75 million, compared to NOK 35 million at the same time last year. The company continues to operate with no interest-bearing debt.

The growth in project volume and LNC deployment, combined with improved EBITDA figures, underscores the enhanced efficiency of operations. The ability to handle larger volumes at a reduced cost base positions Desert Control to maintain healthy margins as the company scales up. 

Outlook:

With solid progress in the U.S. and Middle East, Desert Control is positioned to transition pilot projects into larger contracts and expand LNC adoption in the year ahead. The upcoming readiness of the next-generation LNC production system, solid R&D progress to expand LNC’s impact on soil health, and strengthened partnerships will further strengthen the company’s foundation and accelerate progress in bringing economical, scalable, and sustainable solutions for soil health and water conservation to global markets. Looking ahead, 2025 is set to be another year of significant breakthroughs for Desert Control. 

Q3 Report 2024: 

The information enclosed is subject to the disclosure requirements pursuant to sections 5-12 of the Norwegian Securities Trading ActThe report and materials can also be downloaded from the company webpage: https://desertcontrol.com/investors/

Cautionary Note:

Disclaimer related to forward-looking statements.

This release contains forward-looking information and statements relating to the business, performance, and items that may be interpreted to impact the results of Desert Control and/or the industry and markets in which Desert Control operates.

Forward-looking statements are statements that are not historical facts and may be identified by words such as “aims,” “anticipates,” “believes,” “estimates,” “expects,” “foresees,” “intends,” “plans,” “predicts,” “projects,” “targets,” and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which Desert Control operates to differ materially from the statements expressed or implied in this release by such forward-looking statements.

No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements. 

For more information, please contact:

Ole Kristian Sivertsen
President and Group CEO
Email: oks@desertcontrol.com 
Mobile (NOR): +47 957 77 777
Mobile (USA): +1 650 643 6136

Leonard Chaparian
Chief Financial Officer
Email: leonard.chaparian@desertcontrol.com 
Mobile (NOR): +47 90 66 55 40

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

https://news.cision.com/desert-control-as/r/desert-control-released-its-q3-2024-report-on-15-november-2024-and-provides-access-to-company-update,c4067584

 

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Trustpilot wins landmark legal case against review sellers ahead of new law banning the sale of fake reviews

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November 18, 2024

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LONDON, Nov. 18, 2024 /PRNewswire/ — Trustpilot, the global online consumer review platform, has won a landmark legal case in the UK against a series of websites that were selling hundreds of fake reviews.

The High Court agreed the review sellers – TPR, SMM Service Buy and SMM 420, were unlawfully inducing businesses who use the platform to breach its terms of use, passing off fake reviews as authorised by Trustpilot and infringing its trademarks.

Following the ruling, Trustpilot is calling on internet service providers and payment providers to take down the websites identified in the legal action.     

The ruling comes as the Competition and Markets Authority prepares to enforce a new law banning the practice of buying or procuring fake reviews. The Digital Markets, Competition and Consumers Act comes into force in April 2025, which will allow the CMA to take action against businesses who break the rules.

Anoop Joshi, Trustpilot’s Chief Trust Officer said: “This is a significant moment in the fight against websites that sell fake reviews, and we want to send a clear message that we will not tolerate review seller activity on Trustpilot. We decided to take action now, ahead of the UK law being introduced, because we’re determined to root out and take action against businesses or individuals who could pose a threat to the integrity of our platform. Ensuring businesses and consumers are able to access genuine reviews on Trustpilot is essential to safeguarding the services we provide”.

Over the past 2 years Trustpilot has successfully brought 10 legal cases against businesses who continually abused the platform’s rules to manipulate others through online reviews. In 2023 Trustpilot removed 3.3 million fake reviews from the platform. The removal rate remains consistent at 6% of the total amount of reviews received year on year. 

About Trustpilot

Trustpilot began in 2007 with a simple yet powerful idea that is more relevant today than ever – to be the universal symbol of trust, bringing consumers and businesses together through reviews. Trustpilot is open, independent, and impartial – we help consumers make the right choices and businesses to build trust, grow and improve.

Today, we have more than 300 million reviews on the platform and 57 million monthly active users across the globe, with 117 billion annual Trustpilot brand impressions, and the numbers keep growing. We have more than 900 employees and we’re headquartered in Copenhagen, with operations in Amsterdam, Denver, Edinburgh, Hamburg, London, Melbourne, Milan and New York. 

For more information, please visit www.trustpilot.com

Logo – https://mma.prnewswire.com/media/2236459/4317181/Trustpilot_Logo.jpg

 

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/R E P E A T — MEDIA ADVISORY – Media tour of Centre Block construction site/

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November 18, 2024

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GATINEAU, QC, Nov. 15, 2024 /CNW/ – Members of the specialized media are invited to follow a guided tour of the Centre Block construction site on Tuesday, November 19. Representatives from Public Services and Procurement Canada and Parliamentary Administrations will provide the tour and answer questions.

Please note that all details are subject to change. All times are local.

Date: Tuesday, November 19, 2024

Bilingual Tour : meeting time 8:45 a.m.

Meeting point: Centennial Flame, Parliament Hill 

Duration: Approximately 3 hours, including the health and safety briefing

Please note that space is limited. To register, please contact Media Relations by email no later than Monday, November 18 at 2:00 p.m.

IMPORTANT INFORMATION

Please be aware that the tour will take place in an active construction site. A mandatory health and safety briefing will be provided and protective equipment (boots, hard hat, glasses, gloves and vest) will be distributed on-site before the tour. Long pants are required and tank tops are not allowed for health and safety reasons. Please note:  boot sizes are required in advance and should be provided upon registration.

For security reasons, photography and video will be restricted in certain areas.

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SOURCE Public Services and Procurement Canada

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Dispersive Appoints Cybersecurity Visionary Lawrence Pingree as Vice President – Technical Marketing

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November 18, 2024

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Veteran Cybersecurity Leader to Spearhead Strategic Marketing and Strengthen Dispersive’s Stealth Networking Solutions Amid Evolving Cyber Threats

ROSWELL, Ga., Nov. 18, 2024 /PRNewswire/ — Dispersive, an innovative leader in Stealth Networking technology, is proud to announce the appointment of Lawrence Pingree as Vice President – Technical Marketing. Pingree, a seasoned cybersecurity executive with a distinguished track record at Gartner and across the industry, will play a pivotal role in propelling Dispersive’s mission to redefine secure communications and bolster global cybersecurity resilience.

A Proven Leader in Cybersecurity

With nearly 30 years of impactful experience, Lawrence Pingree has cemented his reputation as a thought leader and influential figure in the cybersecurity field. During his tenure at Gartner, Pingree held multiple executive positions, including Vice President Emerging Technologies and Trends – Cloud and Endpoint Security, Managing Vice President of Emerging Technologies – Security & Risk, and Research Vice President – Security Technologies. His strategic oversight and visionary research significantly shaped the understanding and evolution of critical cybersecurity technology.

Pingree’s contributions include publishing over 300 influential research notes, introducing groundbreaking concepts such as Security as a Service (SaaS), Software-Defined WAN (SD-WAN), Endpoint Detection and Response (EDR), Threat Intelligence Platforms (TIP), Threat Intelligence Gateways (TIG) and Secure Internet Gateways (SIG). His work provided key strategic and tactical guidance to technology providers and end-users alike, empowering them to navigate an increasingly complex threat landscape.

In addition to his corporate roles, Pingree’s professional affiliations have included serving as Vice President of the Digital Forensics Association, being an active member of the Silicon Valley chapter of the Information Systems Security Association (ISSA) and contributing to the Open Web Application Security Project (OWASP). These roles underscore his commitment to advancing cybersecurity knowledge and practice at both organizational and community levels.

Joining Forces with Dispersive

“Joining Dispersive is an opportunity to align my passion for cybersecurity with a company that embodies true innovation in secure networking,” said Pingree. “Dispersive’s approach to preemptive, quantum-resistant cybersecurity uniquely positions it to address the urgent and evolving needs of our hyperconnected world. I am excited to contribute to the company’s mission to safeguard global communications through cutting-edge, adaptable solutions.”

Dispersive’s Stealth Networking solutions leverage military-grade tactics to ensure data in transit is secure and protected against advanced threats, including nation-state actors and complex supply chain attacks. By constructing virtual, active/active multipath mesh networks with rolling encryption keys and granular access controls, Dispersive offers unmatched security, resilience, and performance. The software-only solution can be globally deployed in minutes, requiring minimal operational overhead and seamlessly integrating with existing infrastructure.

“With Lawrence’s deep expertise and leadership, Dispersive is positioned to not only reinforce our technological innovation but also scale our customer and market impact,” said Rajiv Pimplaskar, CEO of Dispersive. “His proven ability to introduce and drive new ideas and technologies makes him ideal to drive our strategic marketing initiatives and help safeguard our critical infrastructure customers.”

About Dispersive

Dispersive is a pioneering provider of secure networking software, focused on preemptive cybersecurity and Stealth Networking. Inspired by military strategies, Dispersive’s technology ensures unmatched data security, obfuscation, and network performance. With solutions like DispersiveCloud and DispersiveFabric, the company empowers organizations to operate securely and confidently in an environment where cybersecurity threats driven by hyperconnectivity, generative AI, and quantum computing are at an all-time high. For more information on Dispersive and its innovative approach to cybersecurity, visit www.dispersive.io.

Media Contact:
Amy Levine
Director of Marketing
Dispersive
844.403.5850
alevine@dispersive.io
www.dispersive.io

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SOURCE Dispersive Holdings, Inc.

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