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Reconciliation Energy Transition Inc. Announces Joint Development Agreement with Sumitomo Corporation Group

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CALGARY, AB and NEW YORK, May 23, 2024 /CNW/ – Reconciliation Energy Transition Inc. (“RETI” or the “Company”) is pleased to announce it has entered into a Joint Development Agreement (the “JDA”) with Sumitomo Corporation, a leading global trading company based in Tokyo, Japan, through its subsidiary Ammolite Carbon Sequestration (collectively “Sumitomo Corporation Group”).

Pursuant to the JDA, RETI and Sumitomo Corporation Group have finalized the terms under which Sumitomo Corporation Group will acquire a significant equity interest in the RETI East Calgary Region Carbon Transportation and Sequestration Hub project (“CTS Hub”). The CTS Hub is an open access CO2 sequestration-as-a-service solution for industrial emitters within the greater Calgary region and beyond with potential storage capacity of up to 10 million tonnes per annum.

The CTS Hub plans to construct compression capacity, a CO2 pipeline network, and injection and monitoring wells to facilitate the permanent sequestration of CO2 in deep saline aquifers east of Calgary. The parties intend to progress the FEED study immediately, targeting the first carbon sequestration operations in 2026.

The RETI East Calgary Region Transportation & Sequestration Hub LP, a Limited Partnership established for the purpose of conducting project related activities, is also a party to the agreement.

Appointment of RBC Capital Markets

RETI is also pleased to announce the appointment of RBC Capital Markets as lead placement agent and financial advisor in respect to the financing of the Company’s portfolio of projects, including the CTS Hub and the Calgary Region Sustainable Aviation Fuel (SAF) Facility.  The mandate includes the engagement of RBC as exclusive financial advisor to render investment banking services for assistance in the sourcing, assessment, negotiation, valuation, documentation and/or closing of one or more long-term commercial agreements relating to the projects, including offtake and feedstock arrangements.

Commenting on the appointment of RBC Capital Markets, Stephen Mason, Chairman & CEO, stated, “RETI’s vision resonates with the philosophy at RBC – that of developing sustainable, forward-looking projects while acknowledging the importance of Indigenous partnerships in Canada’s energy transition landscape. As we continue and invest in low-carbon energy transition projects, the guidance and expertise of RBC will be instrumental.”

As RETI advances, it remains steadfast in its commitment to generating shareholder value, improving corporate ESG standards, and shaping the future of renewable energy in Canada. With the support of strategic partners like Sumitomo and RBC Capital Markets, RETI stands poised to deliver viable projects in the low-carbon energy transition economy.

About RETI

Established in 2019, RETI is a private development company focused on low carbon energy transition projects in partnership with Indigenous nations and industry. Our mission blends maximizing shareholder value with a commitment to Environmental, Social and Governance (ESG) principles. Our dedication to fostering meaningful Indigenous ownership aligns with Canada’s TRC Calls to Action #92 and UNDRIP Principles, emphasizing our broader vision to economic reconciliation, benefitting all involved. For more information, visit www.reconciliationenergy.com.

About Sumitomo Corporation

Sumitomo Corporation (TYO: 8053) is an integrated trading company with a strong global network comprising 129 offices in 66 countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and 80,000 employees on a consolidated basis. The Group’s business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of “Enriching lives and the world,” based on Sumitomo’s business philosophy passed down for over 400 years. For more information, please visit the Sumitomo Corporation home page at the following link www.sumitomocorp.com.

Sumitomo Corporation’s CCUS Initiatives

Sumitomo Corporation has highlighted mitigation of climate change as one of its key areas of focus whilst also committing to being carbon neutral by 2050. Sumitomo Corporation recognizes Carbon Capture Utilization and Storage (“CCUS”), as a key technology to combat climate change, and, in January 2023, established a dedicated global CCUS team, within its Energy Innovation Initiative Strategic Business Unit, to focus on this business area. The involvement in the CTS Hub will allow Sumitomo Corporation to further develop its CCUS business footprint in North America. Additionally, the experience gained from these scopes will provide a strong basis to enable the global expansion of Sumitomo Corporation’s CCUS business activities.

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 94,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at www.rbc.com.

For more information, contact:
Stephen W. Mason, Chairman & CEO
Reconciliation Energy Transition Inc.
(403) 613-5399
stephen.mason@reconciliationenergy.com

For media inquiries: media@reconciliationenergy.com

SOURCE Reconciliation Energy Transition Inc. (“RETI”)

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DomaCom Appoints Giuseppe Porcelli as Chairman and Secures $2 Million Private Placement

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January 10, 2025

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SYDNEY, Jan. 10, 2025 /PRNewswire/ — DomaCom Limited (ASX:DCL) is pleased to announce two significant developments that will strengthen its leadership and financial position as it advances its fund-first, technology-driven strategy.

Appointment of Giuseppe Porcelli as Non-Executive Chairman

DomaCom has appointed Giuseppe Porcelli as Non-Executive Chairman. Giuseppe is the Founder, Chairman, and CEO of Lakeba Group, a global technology leader renowned for AI-powered, scalable solutions. With extensive expertise in technology-driven investment strategies, his leadership will be instrumental in accelerating DomaCom’s growth, innovation, and investor value creation.

“Giuseppe’s appointment strengthens our leadership team at a pivotal time for DomaCom,” said Darren Younger, CEO of DomaCom. “His experience in driving technological innovation and scaling businesses will support our strategy to enhance investor value and expand our market presence.”

Successful Completion of $2 Million Private Placement

DomaCom has successfully secured a $2 million investment through a private placement from sophisticated investor Martin Groen. The placement involved issuing 142,857,143 fully paid ordinary shares at $0.014 per share, reflecting investor confidence in DomaCom’s strategy and growth potential.

“This investment demonstrates strong confidence in our vision to transform DomaCom into a leading fund-first, technology-driven business,” said Giuseppe Porcelli, Chairman of DomaCom. “The additional option to secure further funding underscores the long-term alignment between DomaCom and our investors. This capital will allow us to accelerate key initiatives, deliver value to our stakeholders, and position the business for sustained growth.”

These developments mark an important step forward in DomaCom’s transformation, reinforcing its commitment to technological innovation, financial growth, and enhanced investor value.

Contact person: Darren Younger, DomaCom CEO
Darren.younger@domacom.com.au 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/domacom-appoints-giuseppe-porcelli-as-chairman-and-secures-2-million-private-placement-302347645.html

SOURCE DomaCom Limited

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GlocalMe Unveils New Brand Identity and Cutting-Edge Innovations at CES 2025

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60 minutes ago

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January 10, 2025

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LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — GlocalMe, a global leader in mobile data connectivity under uCloudlink (NASDAQ: UCL), is proud to announce its participation in CES 2025, the world’s largest technology trade show. This year marks a significant milestone for GlocalMe as it unveils its newly refreshed brand identity and showcases an impressive lineup of innovative products that are set to redefine global connectivity.

With the theme “The Ideal Network of Life,” GlocalMe’s rebranding reflects its dedication to providing seamless, secure, and reliable internet connectivity that feels local, no matter where users are. Powered by its patented Cloud SIM and HyperConn™ technology, the brand emphasizes “Global Connectivity, Local Mindedness,” delivering a borderless yet personalized connection experience for modern digital lifestyles.

“Our new brand identity represents a transformative step in our journey to empower users with effortless and reliable global connectivity,” said Chaohui Chen, CEO of uCloudlink. “At CES 2025, we are thrilled to showcase how our innovative solutions bring the world closer together, delivering technology that feels personal and local, even in a globalized world.”

Spotlight on the GlocalMe Life Series

A major highlight of GlocalMe’s CES 2025 showcase is the GlocalMe Life Series, a collection of advanced products designed to provide secure and convenient connectivity for daily and travel use. With a focus on user convenience and peace of mind, the Life Series empowers users to stay connected effortlessly.

At CES 2025, GlocalMe will pre-launch three new additions to the Life Series:

GPet: The second generation of GlocalMe’s smart global pet tracker, featuring unique 6-tech positioning technologies to ensure the safety and location tracking of pets worldwide. New features, including ‘AI Wellness’ and ‘Pet Interaction,’ will enhance pet health monitoring and strengthen the bond between pets and their owners.UniCord S and UniCord P: Upgraded versions of the UniCord, designed specifically for drivers and remote workers. These devices offer advanced tracking features and provide secure and seamless connectivity during commutes or road trips. The UniCord P boasts upgraded mobile internet specifications, delivering a network experience comparable to a Wi-Fi hotspot.

These new products join the existing Life Series, which includes:

UniCord: The world’s first 3-in-1 multi-functional USB cable, which has been honored with the “CES Breakthrough Award 2025” by Android Authority for its innovative design and functionality.RoamPlug: The world’s only travel adapter with a built-in 4G mobile hotspot.KeyTracker: A global intelligent tracker featuring 6-tech positioning to secure and locate personal belongings with precision.

Introducing HyperConn™ Technology: Seamless Connectivity Redefined

GlocalMe will also debut its revolutionary HyperConn™ mobile Wi-Fi hotspot technology at CES 2025, redefining how users stay connected on the move. Leading this innovation is the MeowGo G40 Pro, a HyperConn™-enabled 4G multi-network mobile Wi-Fi hotspot. Designed for road trip families and remote workers, this device leverages AI-powered network switching to provide uninterrupted internet access by seamlessly connecting to multiple 4G carriers and Wi-Fi providers. This ensures reliable connectivity anywhere in the world, no matter where life takes users.

Experience GlocalMe at CES 2025

From January 7 to 10, 2025, GlocalMe will showcase its new brand identity and innovative product lineup at booth LVCC North Hall #8211. Attendees are invited to experience firsthand how GlocalMe is redefining global connectivity through its cutting-edge products and advanced technologies.

All pre-launched products from CES will be officially available by the end of the first quarter of 2025.

About GlocalMe

GlocalMe is a digital lifestyle brand under Nasdaq-listed technology company uCloudlink (NASDAQ: UCL). With its mission to enable people to ‘Connect and Share without Limitations’, uCloudlink is a leading mobile technology solutions provider that provides a marketplace for mobile data traffic sharing to billions of users in over 200 countries and regions. By using uCloudlink’s patented Cloud SIM technology, mobile users are no longer confined to the service of a single network operator but are opened to a world of connectivity whenever and wherever they are.

For more information, visit www.glocalme.com.

Photo – https://mma.prnewswire.com/media/2595181/GlocalMe.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/glocalme-unveils-new-brand-identity-and-cutting-edge-innovations-at-ces-2025-302347677.html

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Reap Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore

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2 hours ago

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January 10, 2025

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SINGAPORE, Jan. 9, 2025 /PRNewswire/ — Reap, a leading payment technology provider, is thrilled to announce today that it has received an In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for its application of the Major Payment Institution (MPI) License for its Singapore entity, Reap Singapore.

Obtaining the IPA marks a significant milestone for Reap. Reap is committed to regulatory excellence while continuously enhancing its capabilities and presence in Singapore and the broader Asia Pacific region. While the IPA marks a critical step forward, Reap Singapore remains steadfast in meeting the required conditions for the MPI License. Reap is equally committed to dedicating the necessary resources to support and assist Reap Singapore in achieving this goal. Together, Reap and Reap Singapore will continue to refine its compliance standards and beyond, ensuring it delivers enhanced value and trusted solutions to Singapore and the broader APAC customers.

“At Reap, compliance has always been paramount, not only to safeguard our users but also as a fundamental pillar for growth. Receiving this IPA from the MAS, a globally renowned financial regulator, is incredibly motivating and will be a key driver of secure growth in the region. It fuels our enthusiasm to continue collaborating closely with regulatory bodies to shape a secure and efficient money movement across the region. Reap is also committed to building a strong payment service.” stated Kevin Kang, Co-Founder of Reap.

Singapore is integral to Reap’s mission of enhancing global money movement. Its high regulatory standards and commitment to foster sustainable innovation align seamlessly with Reap’s vision for the future of payment services. This alignment empowers Reap to drive secure and efficient financial flows while delivering exceptional value to its clients and partners.

About Reap

Reap group is a leading global payment technology provider that enables financial connectivity and access for businesses worldwide. By bridging disparate economies, merging technological divides, and connecting key financial players, we are transforming the financial landscape into a more interconnected and interoperable space for efficient money movement.

With corporate cards, payout solutions, and expense management tools, we streamline financial operations and empower businesses to scale. Our APIs enable businesses to embed finance into their own products and services, from issuing Visa cards to facilitating cross-border payments.

Founded in 2018 in Hong Kong, Reap has since expanded to a team of over 100 across the globe, including Singapore. Reap is supported by a strong network of investors, including Acorn Pacific Ventures, Arcadia Funds, HashKey Capital, Hustle Fund, Fresco Capital, Abacus Ventures, and Payment Asia.

For media enquiries, please contact:

Christine Cheuk
Marketing & PR Manager, Reap
christine@reap.global

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/reap-receives-in-principle-approval-for-major-payment-institution-license-from-monetary-authority-of-singapore-302347620.html

SOURCE Reap

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