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Aker Carbon Capture ASA: Second quarter 2024 results

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LYSAKER, Norway, July 10, 2024 /PRNewswire/ — In the second quarter, Aker Carbon Capture ASA (“ACC ASA”) finalized a joint venture (JV) with SLB. The JV strategically combines technology portfolios, expertise, and operational platforms to support accelerated carbon capture adoption for industrial decarbonization at scale. ACC ASA booked a gain on the sale of NOK 4.9 billion and the cash position at the end of the second quarter was NOK 4.5 billion.

“We are immensely proud of making carbon capture a reality today with seven technology installations in progress in Norway, Denmark and the Netherlands that have the combined capacity to capture up to 1 million tonnes of CO2 emissions per year. Through the JV with SLB, we will scale industrial decarbonization and commercialize disruptive technologies for the future. This JV marks a defining moment in our strategy, and we are confident that the partnership with SLB will create significant value for all our stakeholders,” said Valborg Lundegaard, CEO of Aker Carbon Capture ASA.

SLB and Aker Carbon Capture ASA close JV transaction

In June, ACC ASA and SLB announced the closing of their carbon capture JV. Carbon capture is a key technology to fight climate change and achieve net zero by reducing greenhouse gas emissions from power and hard-to-abate industrial sectors. The new JV is well positioned to deploy decarbonization at scale. ACC ASA will retain a 20% ownership stake in the JV and will continue to further develop the business together with SLB, which will hold the remaining 80% ownership stake. The new company will be headquartered in Oslo.

For further details on the JV transaction, reference is made to transaction announcement: https://akercarboncapture.com/?cision_id=DB4E7DA6FBE9D754

Market development and commercial activity progressing

The first half of 2024 saw high activity in the overall carbon capture market and for Aker Carbon Capture, notably including further progress with supportive government policy, the development of carbon removals, and the formation of progressive industry partnerships. 

Aker Carbon Capture saw high activity in early-stage work such as test campaigns, FEEDs, pre-FEEDs and studies and took major steps to develop its position in the important North American market. This included signing Memorandum of Understanding agreements with MAN Energy Solutions for CO2 capture and compression, and with carbon capture developer CO280 and Microsoft to accelerate full-scale carbon removal, initially targeting biogenic CO2 emissions from the pulp and paper industry. This builds on the existing partnership between Aker Carbon Capture, Ørsted and Microsoft that supports the landmark Kalundborg CCS project in Denmark.

The Twence CCU, Heidelberg Materials Brevik CCS and Ørsted Kalundborg CCS projects continued to progress in the quarter and are currently the most mature large-scale carbon capture projects under construction in Europe.

The Heidelberg Materials Brevik CCS project in Norway, a Big Catch facility, will be the first industrial scale carbon capture plant at a cement factory anywhere in the world, and will at completion capture 400,000 tonnes CO2 per year.Ørsted’s BECCS project in Denmark, with the delivery of 5 Just Catch™ 100 units at Asnæsværket and Avedøreværket, will capture up to 500,000 tonnes CO2, creating negative emissions from 2026 onwards.The Twence project in the Netherlands, with the delivery of a Just Catch™ 100 unit to the Dutch operator of waste-to-energy plants, will have a rated capacity of 100,000 tonnes CO2 per year and will commence operations 2024. The captured CO2 at Twence will be utilized in local horticulture to increase plant yields from greenhouses, making it one of the first industrial scale examples of carbon capture and utilization (CCU).

Financial results

ACC ASA ended the second quarter 2024 with NOK 4.5 billion in cash and a solid equity position at NOK 5.5 billion. An accounting gain of NOK 4.9 billion was booked related to the sale of ACCH to SLB.

Future strategy

The Board of Directors of ACC ASA is in the process of defining the future strategy and structure of the Company, including the framework for the use of the proceeds from the transaction with SLB.

The first-half 2024 report is attached.

For further information:
Media:
Marianne Stigset, mob: +47 41188482, email: marianne.stigset@akercarboncapture.com

Investors:
David Phillips, mob: +44 7710 568279, email: david.phillips@akercarboncapture.com

 ——————

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Marianne Stigset, Communications, Aker Horizons ASA, on July 10, 2024, at 07:00 CEST.

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

https://news.cision.com/aker-carbon-capture-asa/r/aker-carbon-capture-asa–second-quarter-2024-results,c4013329

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Palindrome Technologies Approved as Cybersecurity Label Administrator for FCC’s IoT Program

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55 minutes ago

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January 6, 2025

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PRINCETON, N.J., Jan. 6, 2025 /PRNewswire/ — Palindrome Technologies has been conditionally approved as a Cybersecurity Label Administrator (CLA) for the Federal Communications Commission’s (FCC) voluntary Internet of Things (IoT) Cybersecurity Labeling Program.

As a CLA, Palindrome will evaluate and certify IoT products that meet FCC cybersecurity standards.
Qualified products will bear the “U.S. Cyber Trust Mark” label.
This program is designed to incentivize manufacturers to meet higher cybersecurity standards and differentiate trustworthy products in the marketplace, and most importantly, help consumers make informed decisions about the products they use in their homes.

Peter Thermos, Palindrome CEO, stated, “We are honored to support the FCC’s efforts in strengthening IoT security and building consumer trust. Our expertise in security assurance testing of network devices and products positions us well for this role.”

Palindrome will provide manufacturers with:

Streamlined application review and management for FCC IoT Label usage authorization

Assistance with preparation for certification

Guidance throughout the certification process

Testing and certification of IoT products

Awareness and training

The program offers benefits to manufacturers, connected infrastructure, and consumers by raising cybersecurity standards and providing clear information about device security.

For more information, visit the Palindrome Technologies website.

About Palindrome Technologies:
Since 2005, Palindrome Technologies has been a trusted cybersecurity partner to Fortune 500 companies and growing organizations that want to engineer cyber resilience in emerging threat environments. With a focus on excellence, curiosity, and integrity, Palindrome helps clients defend against cyberattacks across all attack surfaces, including hardware, software, network-to-cloud, people, and emerging technologies. 

For inquiries, please contact

john.schelewitz@palindrometech.com

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SOURCE Palindrome Technologies

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Home And Office Paper Shredders Market size to increase by USD 1.69 Billion between 2024 to 2029, Market Segmentation by End-user, Product, Geography, Technavio

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January 6, 2025

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NEW YORK, Jan. 6, 2025 /PRNewswire/ — The global home and office paper shredders market size is estimated to grow by USD 1.69 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of 9.9% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

End-user 1.1 Commercial1.2 ResidentialProduct 2.1 Cross-cut2.2 Micro-cut2.3 Strip-cutGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

Get a glance at the market contribution of rest of the segments – Download a FREE Sample Report in minutes!

1.1 Fastest growing segment:

The commercial sector’s reliance on paper shredders for document security is significant. Factors such as high shredding volume and frequency, nature of confidential data, and regulatory compliance drive this demand. Paper shredders are essential equipment in offices, providing document security, workspace cleanliness, and waste disposal. Despite the increasing digitization trend, the paper shredder market is witnessing steady growth due to the importance of physical document security in the face of cyber threats. In regions like North America and Europe, where electronic products are prevalent, the paper shredder market continues to expand, ensuring the safe disposal of sensitive documents remains a priority.

Analyst Review

The Home and Office Paper Shredders market refers to the demand for electronic equipment designed to shred confidential documents into tiny pieces for secure disposal. With the increasing awareness of data security and environmental protection, the market for these shredding machines has seen significant growth. Bin capacity varies from small portable shredders to industrial-grade models. The shredding process helps protect sensitive data and confidential papers, including personnel records and financial information, from falling into the wrong hands. The carbon footprint of paper shredders is a concern, but advancements in technology are leading to more energy-efficient models. Consumption volumes are high among government agencies, small enterprises, private groups, and individuals. The shutdown of offices and reduction of commerce due to the pandemic have led to an increase in the demand for paper shredders. Smart features and automation, such as sensor systems and volume information, are becoming increasingly popular. The market offers a range of shredding techniques, including strip cut, which ensures thorough destruction of documents.

Market Overview

The Home and Office Paper Shredders market refers to the demand for electronic equipment designed to shred confidential documents, sensitive data, and other paper waste. With the increasing concern for data security and environmental protection, the market for paper shredders has seen significant growth. Bin capacity varies from small portable shredders for home use to industrial-grade machines for commercial usage sectors. Paper shredders use different techniques such as Strip Cut, Cross Cut, and Micro Cut to ensure thorough destruction of documents. Consumption volumes are driven by various sectors including government agencies, small enterprises, private groups, and individuals. The market caters to various industries such as banks, financial organizations, healthcare institutions, educational institutions, retailers, customer service industry, and more. The market also includes shredders for CDs, DVDs, loyalty cards, credit cards, and magnetic tapes. With advancements in technology, smart features and automation are becoming increasingly popular, including sensor systems and volume information. The reduction of commerce due to shutdowns and the shift towards soft copy preferences have also influenced the market. The working population and retail networks, as well as online platforms, are significant consumers of paper shredders.

To understand more about this market- Download a FREE Sample Report in minutes!

Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor 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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THADDBOII Releases New Single and Music Video “Lil Baddie”

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55 minutes ago

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January 6, 2025

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LOS ANGELES, Jan. 6, 2025 /PRNewswire/ — Rising music artist and viral sports-comedy creator THADDBOII has officially released his latest single, “Lil Baddie,” along with an accompanying music video that’s guaranteed to captivate audiences. The song embraces a relaxed, fun, and vibey energy, showcasing a different side of his artistry.

“Lil Baddie” is available to stream now on Spotify, Apple Music, and other platforms, with the music video available on YouTube.

The “Lil Baddie” music video takes place at a $40,000,000 Beverly Hills mansion, seen on Selling Sunset, overlooking all of Los Angeles. The stunning visuals, combined with the vibrant energy of the track, capture the essence of carefree moments and good vibes. The video seamlessly merges aspirational imagery with an authentic and approachable charm.

“I wanted ‘Lil Baddie’ to be a track that makes people feel good, something they can vibe to anytime, anywhere,” said THADDBOII. “It’s all about living in the moment, letting your mind ride the beat, and enjoying my catchy and clever lines.”

The single, now available on all major streaming platforms, marks an exciting chapter in THADDBOII’s evolution as a multi-talented artist. With a loyal fanbase of millions across TikTok, YouTube, and Instagram, THADDBOII continues to push creative boundaries, inviting his audience to explore new dimensions of his musical journey.

Watch the “Lil Baddie” music video now on YouTube and stream the song on Spotify, Apple Music, and other platforms. Join the conversation online using #LilBaddie and #THADDBOII.

About THADDBOII
THADDBOII is an influential figure in the digital content creation and social media sphere, as well as a rising music artist. Known for his captivating storytelling and deep expertise in sports analysis, he has garnered a dedicated following of over 6 million fans across TikTok, YouTube, Instagram, and Facebook.

With over 3 billion views on TikTok and more than 1 million subscribers on YouTube, THADDBOII has established himself as a prominent social media figure. Beyond his viral content, he is also the Founder of the Influencer Football League (IFL), a Touch Football tournament that brings together influencers, athletes, musicians, and celebrities for a unique sporting experience.

Driven by a passion for entertainment and a commitment to excellence, THADDBOII continues to inspire and innovate in the digital landscape. His ability to connect with fans and deliver engaging content has solidified his position as a leader in the intersection of sports, entertainment, and social media.

IMAGE DOWNLOAD: https://drive.google.com/file/d/1SC1rAzTIyMQdpJFPa7MjBZEHsJr6WDhy/view 

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SOURCE THADDBOII

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