Dubai Electricity and Water Authority PJSC shareholders approve payment of AED 3.1 billion in dividends

 

 Dubai, United Arab Emirates, 29 March 2024:

Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider and majority owner of the largest cooling services provider, which is listed on the Dubai Financial Market (DFM), reported that its shareholders have, in the general assembly held on March 28^th, 2024,  approved the payment of total dividend of AED 3.1 billion with a record date of April 8^th, 2024.

General Assembly Details

The meeting, chaired by HE Matar Humaid Al Tayer, Chairman of the Board of Directors of DEWA, was attended by HE Saeed Mohammed Al Tayer, MD&CEO of DEWA and Members of the Board of Directors of DEWA as well as 85.9% of the shareholders. The assembly was held on Thursday (28^th March 2024) at the Kempinski Boulevard Hotel in Dubai as well as virtually.

Attractive Dividend Yield

For shareholders who are invested in DEWA’s shares prior to the dividend record date of April 8^th, 2024 (with a Last Entitlement Date of April 4^th, 2024), the next twelve-month dividend yield is 5.0% with reference to IPO share price of AED 2.48 per share.

“Thanks to the insightful vision and wise directives of our wise leadership, Dubai has become a global hub for trade, finance, tourism, and green economy. DEWA plays a crucial role in ensuring that Dubai’s infrastructure keeps pace with the increasing demand for energy and water. Our unwavering efforts have contributed to DEWA’s record of achievements, highlighted the transition to clean energy and established DEWA’s global leadership,” said HE Matar Al Tayer.

“Looking ahead, I am optimistic about our operating and financial outlook for 2024. The surge in tourism, growth in the residential and commercial demand for our services and the rising active day-time population in the Emirate are promising indicators of further opportunities to grow our business. In 2023, DEWA’s annual revenue exceeded AED 29 billion, operating profit was over AED 8.7 billion and EBITDA was over AED 14.7 billion, all figures reflecting the highest in its history” said HE Saeed Al Tayer.

 

More information on DEWA’s website: https://www.dewa.gov.ae/en/investor-relations

and DFM’s website

https://www.dfm.ae/en/issuers/listed-securities/securities/company-profile-page?id=DEWA

 

Source: AETOSWire

 

Contacts:

Shaikha Almheiri

Dubai Electricity and Water Authority

00971552288228

For investor relations, please contact: dewainvestors@dewa.gov.ae

For media, please contact: media@dewa.gov.ae

Philip Morris International Demonstrates Clear Progress Toward Its Purpose as It Releases 2023 Integrated Report

 Report communicates PMI’s progress, including approximately 33 million estimated users of PMI’s smoke-free products, as well as over 40 percent of management positions held by women and 18 factories & 11 markets declared carbon neutral

(BUSINESS WIRE)--Philip Morris International Inc. (PMI) (NYSE: PM) today releases its fifth annual Integrated Report, which outlines the company’s ongoing work to advance toward its 2025 Roadmap goals, with the primary focus on addressing the health impacts of the company’s products.

The 2023 Integrated Report highlights PMI’s continued expansion of smoke-free alternatives in markets worldwide, as well as social and environmental programs deployed with and in parallel to these products—including the deployment of responsible marketing and sales practices and efforts to reduce post-consumer waste. Further, PMI reports its progress toward fostering an empowered and inclusive workplace, improving the quality of life of people in its supply chain, decarbonizing its operations and value chain, and preserving nature and biodiversity.

“2023 was a year marked by unity, determination, and a continued commitment to our vision of a smoke-free future,” said Jacek Olczak, Chief Executive Officer of PMI. “As we encounter new challenges, our people’s enduring resilience, exceptional talent, and depth of purpose ensure we are well-equipped to continue our journey—pursuing progress, embracing innovation, and fostering sustainability as we transform for good.”

PMI’s approach to sustainability is guided by the outcomes of its 2021 sustainability materiality assessment, which, following the principles of double materiality, identified the topics on which PMI focuses and prioritizes resources. PMI’s sustainability strategy addresses two distinct forms of topics: those related to its products (what the company produces), which are part of the “Product Impact” pillar, and those related to its business operations (how the company produces), which are part of the “Operational Impact” pillar.

Product Impact highlights

Social

Approximately 33 million estimated users of PMI smoke-free products, including 28.6 million IQOS users (2022: 24.9 million IQOS users)1

36.4% of adjusted net revenues derived from smoke-free products (2022: 32.1%)2

84 markets where PMI smoke-free products are available for sale3, of which 47% are in low- and middle-income markets4 (2022: 73, 42%)

25 markets where smoke-free products represented more than 50% of annual net revenues (2022: 17)

USD 12.5 billion cumulative investment behind smoke-free products since 2008 (2022: USD 10.7 bn)5

98% of total shipment volume covered by youth access prevention programs in indirect retail channels (2022: 91%)6

Environmental

320,000 cumulative number of smoke-free electronic devices refreshed or repaired since 2021 (2022: 157,000)7

76% of shipment volume covered by markets with anti-littering programs in place for combustible cigarettes (2022: 68%)7

17.6% of shipment volume covered by markets with smoke-free consumables take-back programs (2022: 8.5%)7

Operational Impact highlights

Social

41.8% of management positions held by women, continuing to exceed our aspiration of 40% (2022: 40.7%)

8 human rights impact assessments conducted since 2018 in highest-risk countries (2022: 7)7

0.1% prevalence of child labor among contracted farmers supplying tobacco to PMI (2022: 0.1%)7

Environmental

94% proportion of tobacco purchased at no risk of net deforestation of managed natural forest and no conversion of natural ecosystems (2022: 55%)7

8.14 million cubic meters of water optimized in our tobacco-growing areas (cumulative since 2019) (2022: 4.94 million cubic meters)

PMI’s 2023 Integrated Report is complemented by country-level case studies on PMI.com that shed light on the company’s work in priority sustainability areas and market stories that complement our reporting by connecting and highlighting the impact the initiatives are seeking to have on society and the environment around the world.

“Strategic foresight unites our nonfinancial aspirations with financial outcomes. This is consistent with our purpose, which increasingly resonates with our stakeholders, and we believe powerfully demonstrates the interplay between societal impact and the generation of long-term shareholder returns,” explained Emmanuel Babeau, Chief Financial Officer of PMI. “Delivering a smoke-free future and excelling in our sustainability aspirations are not just ethically sound decisions, they are the bedrock of our strategy and the key to our shared success.”

In 2023, PMI’s sustainability performance was recognized by ESG ratings providers and sustainability-related organizations, including:

Achievement of CDP’s Triple A rating for the fourth consecutive year—placing PMI among the world’s leading companies in environmental transparency and action

Inclusion in CDP’s Supplier Engagement Leader Board for the seventh year

Inclusion in Dow Jones Sustainability World Index for the first time and the Dow Jones Sustainability North America Composite Index for the fourth consecutive year (index inclusion effective as of Dec. 18, 2023), in addition to being awarded “Prime” status in the ISS ESG Corporate Rating (ISS ESG Rating as of Nov. 21, 2023)

Validation from the Science Based Targets initiative (SBTi) on its Forest, Land, and Agriculture (FLAG) emissions reduction targets, making PMI one of very few companies to achieve this recognition

Named an Early Adopter for having committed to advancing the adoption of the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations

“As we present this 2023 Integrated Report, we emphasize that delivering a smoke-free future is not just a priority, it is the essence of our purpose. The path we tread is marked by our ambition to lead, our vow to operate transparently, and our dedication to ensuring that cigarettes are relegated to history,” said Jennifer Motles, Chief Sustainability Officer of PMI. “We remain committed to transparent, consistent, and reliable reporting practices that allow external stakeholders to understand not only our performance but also how we are responding to a rapidly changing environment and planning for the long term, fostering a more sustainable and transparent business landscape.”

The preparation of PMI’s 2023 Integrated Report considered guidance of international standards and frameworks, including the Global Reporting Initiative (GRI), the UN Global Compact (UNGC), the UN Sustainable Development Goals, and the IFRS Foundation—including use of its SASB Standards, Integrated Thinking Principles, and Integrated Reporting Framework. The report aims to provide an objective description of the company’s business model, strategy, performance, and prospects in relation to its priority economic, environmental, social, and governance topics. It describes PMI’s progress in delivering on its purpose, as articulated in its Statement of Purpose, to completely replace cigarettes as soon as possible with smoke-free products that are scientifically substantiated to be less harmful than smoking, while in the longer run laying the foundation for a strong business in the areas of broader lifestyle, consumer wellness, and healthcare.

Please visit pmi.com/sustainability to learn more, and read the full 2023 Integrated Report, case studies and market stories, and the Sustainability KPI Protocol 2023.

Philip Morris International: Delivering a Smoke-Free Future

Philip Morris International (PMI) is a leading international tobacco company, actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smoke-free products. Since 2008, PMI has invested $12.5 billion to develop, scientifically substantiate, and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. In 2022, PMI acquired Swedish Match—a leader in oral nicotine delivery—creating a global smoke-free champion led by the companies’ IQOS and ZYN brands. The U.S. Food and Drug Administration has authorized versions of PMI’s IQOS Platform 1 devices and consumables and Swedish Match’s General snus as modified risk tobacco products. As of December 31, 2023, PMI’s smoke-free products were available for sale in 84 markets, and PMI estimates that approximately 20.8 million adults around the world had already switched to IQOS and stopped smoking. Smoke-free products accounted for approximately 37% of PMI’s total full-year 2023 net revenues. With a strong foundation and significant expertise in life sciences, PMI announced in February 2021 its ambition to expand into wellness and healthcare areas and, through its Vectura Fertin Pharma business, aims to enhance life through the delivery of seamless health experiences. For more information, please visit www.pmi.com and www.pmiscience.com.

Forward-Looking and Cautionary Statements

This press release contains projections of future results and goals and other forward-looking statements, including statements regarding expected financial or operational performance and business plans and strategies. Achievement of future results is subject to risks, uncertainties, and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions prove inaccurate, actual results could vary materially from those contained in such forward-looking statements. Pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, PMI is identifying important factors that, individually or in the aggregate, could cause actual results and outcomes to differ materially from those contained in any forward-looking statements made by PMI.

PMI’s business risks include: excise tax increases and discriminatory tax structures; increasing marketing and regulatory restrictions that could reduce our competitiveness, eliminate our ability to communicate with adult consumers, or ban certain of our products in certain markets or countries; health concerns relating to the use of tobacco and other nicotine-containing products and exposure to environmental tobacco smoke; litigation related to tobacco use and intellectual property; intense competition; the effects of global and individual country economic, regulatory and political developments, natural disasters and conflicts; the impact and consequences of Russia’s invasion of Ukraine; changes in adult smoker behavior; the impact of COVID-19 on PMI’s business; lost revenues as a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, and limitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; adverse changes in the cost, availability, and quality of tobacco and other agricultural products and raw materials, as well as components and materials for our electronic devices; and the integrity of its information systems and effectiveness of its data privacy policies.

PMI’s future profitability may also be adversely affected should it be unsuccessful in its attempts to produce and commercialize reduced-risk products or if regulation or taxation do not differentiate between such products and cigarettes; if it is unable to successfully introduce new products, promote brand equity, enter new markets or improve its margins through increased prices and productivity gains; if it is unable to expand its brand portfolio internally or through acquisitions and the development of strategic business relationships; if it is unable to attract and retain the best global talent, including women or diverse candidates; or if it is unable to successfully integrate and realize the expected benefits from recent transactions and acquisitions. Future results are also subject to the lower predictability of our reduced-risk product category’s performance.

PMI is further subject to other risks detailed from time to time in its publicly filed documents, including PMI’s Annual Report on Form 10-K for the year ended December 31, 2023. PMI cautions that the foregoing list of important factors is not a complete discussion of all potential risks and uncertainties. PMI does not undertake to update any forward-looking statement that it may make from time to time, except in the normal course of its public disclosure obligations.

Notes

In this press release and in related communications, the terms “materiality,” “material,” and similar terms are defined in the referenced sustainability standards and certain regulatory requirements, as may be applicable to us, and are not meant to correspond to the concept of materiality under the U.S. securities laws and/or disclosures required by the U.S. Securities and Exchange Commission.

This press release contains references and links to websites operated by third parties. These references are provided as a convenience to you and as an additional avenue of access to the information contained in those sources; they should not be viewed as an endorsement by us of the content of these references and linked sites or opinions of their authors.

This press release should be read in conjunction with the full Integrated Report 2023, available here.

1 Figures are based on IQOS user panels and PMI market research. Estimated user numbers for oral nicotine and e-vapor are approximate, with further methodology details to be provided in future disclosures. See Glossary available on pages 208-212 of PMI Integrated Report 2023.

2 For definition of net revenues related to smoke-free products, see Glossary available on pages 208-212 of PMI Integrated Report 2023. Data excludes the impact related to termination of distribution arrangement in the Middle East in 2023.

3 For definition of available for sale, see Glossary available on pages 208-212 of PMI Integrated Report 2023.

4 Excluding PMI Duty Free. World Bank report issued in 2023 is used on a comparative basis for income level classification. For definition of low- and middle-income markets, see Glossary available on pages 208-212 of PMI Integrated Report 2023.

5 Investments reflect research, product and commercial development, production capacity, scientific substantiation, and studies on adult smoker understanding. Figures do not include Swedish Match and Vectura Fertin Pharma.

6 Total shipment volume includes cigarettes, other tobacco products (OTPs), and smoke-free product consumables. See PMI’s Sustainability KPI Protocol 2023 for further details. Data excludes Swedish Match and Vectura Fertin Pharma.

7 See PMI’s Sustainability KPI Protocol 2023 for further details.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240328364393/en/

Permalink

https://aetoswire.com/en/news/20240328364393r1

Contacts

 Philip Morris International

David Fraser

Philip Morris International

T. +41 (0)58 242 4500

E. david.fraser@pmi.com

DC Secretary Announces Annual Determinations Committees Outcome

 (BUSINESS WIRE)--DC Administration Services, Inc. has today announced the composition of five regional Determinations Committees (DCs), effective from April 27, 2024.

Voting Dealers (for all regions):				Voting Non-Dealers (for all regions):
Bank of America N.A.				Citadel LLC
Barclays Bank plc				Elliott Management Corporation
BNP Paribas				Pacific Investment Management Company LLC
Citibank, N.A.
Deutsche Bank AG
Goldman Sachs International
JPMorgan Chase Bank, N.A.
Voting Dealer for the Americas, EMEA, AEJ, and Japan Determination Committees:
Mizuho Securities Co., Ltd.

The process for selecting DC members is specified in the DC rules. The DC rules, along with more information about the Determinations Committees and what they do can be found at the Determinations Committees website: https://www.cdsdeterminationscommittees.org/.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240328441002/en/

Permalink
https://www.aetoswire.com/en/news/2903202438488

Contacts

Press Inquiries:
Orlando Figueroa
orlando.figueroa@citadelspv.com

Nordson EFD Releases New 3-Axis Automated Fluid Dispensing Systems

 EAST PROVIDENCE, R.I. - Thursday, 28. March 2024

Latest automated fluid dispensing solutions offer improved motion, repeatability, and payload.

(BUSINESS WIRE) -- Nordson EFD, a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer is proud to announce the new GVPlus and PROX families of automated fluid dispensing products. Both robotic solutions share a focus on motion, workspace, repeatability, payload, setup, and vision technology enhancements.

The new GVPlus automated fluid dispensing solution offers improved repeatability, bigger payloads with simplified setup requirements, and superior vision capabilities. Repeatability is now best-in-class at 8 μm, improving repeatability to ±0.008 mm. Setting up the robot is easier due to a new dual mounting flange that enables a tool payload of up to 4.5 kg (10 lbs).

When paired with the working area of 400 mm x 400 mm, the GVPlus family of fluid dispensing robots offers greater versatility to configure for different types of applications. Enhancements to the CCD smart vision camera deliver high quality images even on challenging surfaces like glass, mirrors, plastics, and non-transparent clear surfaces. To ensure accuracy, EFD’s proprietary dispensing software confirms and automatically adjusts as in-process variations occur.

Like the GVPlus solutions, the new PROX automated fluid dispensing solutions provide improved motion, repeatability, vision, and larger workspace capabilities. New linear motors power the robots, offering better actuation speed, reduced maintenance needs and improved durability. PROX systems extend a best-in-class X, Y, and Z-axis repeatability of ±0.003 mm; the working area is expanded to 500 mm x 500 mm.

The vision system, a CCD smart vision camera, provides precise, high-quality images that are confirmed by EFD’s proprietary DispenseMotion™ software, which automatically adjusts as in-process variations occur. The CCD camera operates on challenging surfaces like glass, mirrors, plastics, and non-transparent clear surfaces.

“With these enhancements to Nordson EFD’s automated dispensing product line, manufacturers will benefit from higher accuracy in fluid deposit placement along with greater versatility that comes from the larger working area and stronger, more durable X, Y, Z movement of the robot tooling,” said Claude Bergeron, Product Line Manager, Automated Dispensing Systems, Nordson EFD. “These improvements will help them meet the demands for higher volume, high-quality production.”

For more information, visit Nordson EFD on the web at nordsonefd.com, LinkedIn, email at info@nordsonefd.com, or call 401.431.7000 or 800.556.3484.

About Nordson EFD

Nordson EFD designs and manufactures precision fluid dispensing systems for benchtop assembly processes and automated assembly lines. By enabling manufacturers to apply the same amount of adhesive, lubricant or other assembly fluid to every part, every time, EFD dispensing systems are helping companies in a wide variety of industries increase throughput, improve quality, and lower their production costs. Other fluid management capabilities include high-quality syringe barrels and cartridges for packaging one- and two-component materials. The company is also a leading formulator of specialty solder pastes for dispensing and printing applications in the electronics industry.

About Nordson Corporation

Nordson engineers, manufactures, and markets differentiated products and systems used for dispensing and processing adhesives, coatings, polymers, sealants and biomaterials; and for managing fluids, testing and inspecting for quality, treating surfaces and curing. These products are supported with extensive application expertise and direct global sales and service. We serve a wide variety of consumer non-durable, consumer durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, building and construction, and general product assembly and finishing. Founded in 1954 and headquartered in Westlake, Ohio, the company has operations and support offices in more than 30 countries. Visit Nordson on the web at nordson.com.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240305726899/en/

Permalink

https://www.aetoswire.com/en/news/2803202438468

Contacts

James Rawstron

Content Marketing Strategjst

+1-401-431-7100 (USA)

james.rawstron@nordsonefd.com

For more information:

Nordson EFD

Global

Natalie Tomasso

+1-401-431-7173; natalie.tomasso@nordsonefd.com

Europe

+44 (0) 1582 666334; infoefd.europe@nordsonefd.com

China

+86 (21) 3866 9006; china@nordsonefd.com

Japan

+81 (03) 5762 2760; japan@nordsonefd.com

Korea

+82 (31) 7368321; korea@nordsonefd.com

SEAsia

+65 6796 9522; sin-mal@nordsonefd.com

India

+91 80 4021 3600; india@nordsonefd.com

 

SLB Announces Agreement to Acquire Majority Ownership in Aker Carbon Capture

 SLB and Aker Carbon Capture will combine technology portfolios, expertise and operations platforms to bring carbon capture solutions to market more quickly and more economically

(BUSINESS WIRE)--SLB (NYSE: SLB) today announced an agreement to combine its carbon capture business with Aker Carbon Capture (ACC) to support accelerated industrial decarbonization at scale.

Bringing together complementary technology portfolios, leading process design expertise and an established project delivery platform, the combination will leverage ACC’s commercial carbon capture product offering and SLB’s new technology developments and industrialization capability. It will create a vehicle for accelerating the introduction of disruptive early-stage technology into the global market on a commercial, proven platform. Following the transaction, SLB will own 80% of the combined business and ACC will own 20%.

The International Energy Agency (IEA) sees carbon capture, utilization, and sequestration (CCUS) playing a critical role in the net-zero transition—estimating that over one gigaton of CO2 per year will need to be captured by 2030, scaling up to over six gigatons by 2050.

“For CCUS to have the expected impact on supporting global net-zero ambitions, it will need to scale up 100-200 times in less than three decades,” said Olivier Le Peuch, chief executive officer, SLB. “Crucial to this scale-up is the ability to lower capture costs, which often represent as much as 50-70% of the total spend of a CCUS project. We are excited to create this business with ACC to accelerate the deployment of carbon capture technologies that will shift the economics of carbon capture across high-emitting industrial sectors.”

SLB will pay NOK 4.12 billion to purchase 80% of Aker Carbon Capture Holding AS (ACCH), which holds the business of ACC, and will contribute the SLB carbon capture business to the combined entity. SLB may also make additional payments of up to NOK 1.36 billion over the next three years based on the performance of the business.

The transaction is subject to regulatory approvals and is expected to close by the end of the second quarter, 2024.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About Aker Carbon Capture

Aker Carbon Capture is a pure-play carbon capture company with solutions, services and technologies serving a range of industries with carbon emissions, including the cement, bio and waste-to-energy, gas-to-power and blue hydrogen segments. Aker Carbon Capture's proprietary, carbon-capture technology offers a unique, environmentally friendly solution for removing CO2 emissions. Find out more at akercarboncapture.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts, expectations and projections regarding the expected benefits of the proposed transaction; the expected timing of the completion of the transaction; the parties’ ability to complete the transaction considering the various regulatory approvals and other closing conditions; future opportunities for the combined business and its products and services; forecasts or expectations regarding energy transition and global climate change; and any other statements regarding the parties’ future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance. These statements are subject to risks and uncertainties, including, but not limited to, satisfaction of the closing conditions to the proposed transaction; the risk that the proposed transaction does not occur; negative effects from the pendency of the proposed transaction; the ability to realize expected benefits from the proposed transaction; the timing to consummate the proposed transaction; the inability to achieve net-negative carbon emissions goals; the timing or receipt of regulatory approvals and permits; and (as to SLB) other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in these forward-looking statements. The forward-looking statements speak only as of the date of this press release, and the parties disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240327249688/en/

Permalink

https://www.aetoswire.com/en/news/20240327249688r1

Contacts

 

Media

Josh Byerly – Vice President of Communications

Moira Duff – Director of External Communications

SLB

Tel: +1 (713) 375-3407

media@slb.com

Nina Westgaard

Aker Carbon Capture

Tel: +47 481 09 409

nina.westgaard@akercarboncapture.com

Investors

James R. McDonald – SVP Investor Relations & Industry Affairs

Joy V. Domingo – Director of Investor Relations

SLB

Tel: +1 (713) 375-3535

investor-relations@slb.com

David Phillips

Aker Carbon Capture

Tel: +44 7710 568279

david.phillips@akercarboncapture.com

SLB Announces First-Quarter 2024 Results Conference Call

 

HOUSTON - 

(BUSINESS WIRE)--SLB (NYSE:SLB) will hold a conference call on April 19, 2024 to discuss the results for the first quarter ending March 31, 2024.

The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.

To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313.

A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until May 19, 2024, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402) 970-0847 outside of North America and giving the access code 4812789.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240326470468/en/

Permalink

https://www.aetoswire.com/en/news/2803202438454

Contacts

Investors

James R McDonald

SVP of Investor Relations & Industry Affairs

Joy V. Domingo

Director of Investor Relations

Tel: +1 (713) 375-3535

Email: investor-relations@slb.com

Media

Moira Duff

Director of External Communications

Tel: +1 (713) 375-3407

Email: media@slb.com

Cirium’s Airfare Data Shows Increases in Economy Airfares in 2023 in North America and Europe With a Decrease in Transatlantic Business Class Fares

 LONDON - Thursday, 28. March 2024 AETOSWire Print 

U.S. domestic airfare has increased 9% compared to 2019, but lower than 19% increase in U.S. Consumer Price Index over the period

Intra-European airfare up 12% compared to 2019

Transatlantic business class airfare down 3% compared to 2019

U.S. domestic airfare fell 4% between August and December 2023

 

(BUSINESS WIRE) -- Cirium, the leading aviation analytics company, analysed airfare trends for 2023, using Cirium FM Traffic. Economy airfare has generally increased since 2023 in North America and Europe, but lower than the U.S. inflation rate.

“While airfare has risen in nominal terms in U.S. and Europe, consumers will appreciate that the increases are less than other consumables,” said Jeremy Bowen, CEO of Cirium. “Cirium’s data teams will continue to monitor the impact on fares of increased capacity in the market, despite challenges related to the availability of aircraft, be it due to groundings, engine issues, or supply chain constraints.”

Cirium analysed airfare for the U.S. domestic market (including 13 U.S. airlines), intra-European travel, and the Transatlantic market. The data is non-directionally averaged, in U.S. dollars, not including taxes and fees. Unless otherwise noted, the fares indicated are for economy class.

U.S. Domestic Airfare

The average U.S. domestic airfare by the 13 airlines was $179.25 in 2023, an increase of 9% since the 2019 average of $164.63. Notably, Cirium also analyzed changes in the U.S. Consumer Price Index from data provided by the Bureau of Labor Statistics, where the inflation rate between 2019 and 2023 was 19%. Accordingly, airfare has risen less than other consumables — 10% lower in real terms.

Beginning in August 2023, airfare decreased by approximately 4% compared to the equivalent months in 2022. Fares in December 2023 were 9% lower than December 2022. The U.S. domestic airfare data includes Alaska Airlines, Allegiant Air, American Airlines, Avelo Airlines, Breeze Airways, Delta Air Lines, Frontier Airlines, Hawaiian Airlines, JetBlue, Southwest Airlines, Spirit Airlines, Sun Country Airlines, and United Airlines.

Intra-European Airfare

Fares for flights within Europe are 8% higher than in 2022 and 12% higher than in 2019. The average airfare in Europe in 2023 was $104.58 (approximately €96) compared to $93.17 (approximately €85.70)—in each case excluding taxes and fees.

Transatlantic Airfare

The average transatlantic economy fare in 2023 was $435.17, compared to $410.75 in 2022 and $381.08 in 2019. This is an increase of 14% in 2023 compared to 2019. However, Cirium data indicates that transatlantic business class airfare is 3% lower compared to 2019, with December 2023 business class fares 7% lower compared to December 2019. The average business class fare in 2023 was $1,845.

Increase in Transatlantic Capacity

Airlines increased capacity in 2023 compared to 2022 and are poised to do the same for summer 2024, according to Cirium Diio Mi schedule data. The transatlantic carriers increased seats flown by 18% in 2023 compared to 2022. And, in the peak summer month of July 2024, the transatlantic carriers will fly almost 375,000 more seats compared to July 2023, with Air France, Delta Air Lines, and Lufthansa among the carriers increasing capacity. This action may reduce airfare on select routes.

About Cirium

Cirium is the world’s most trusted source of aviation analytics. Through powerful data and analytics, coupled with decades of industry experience, Cirium is enabling airlines, airports, travel companies, aircraft manufacturers, and financial institutions, amongst others, to make intelligent and informed decisions that improve operations, grow revenues, and enhance customer experiences.

Cirium is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. The shares of RELX PLC are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.

For further information please follow Cirium updates on LinkedIn or visit www.cirium.com.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240328812644/en/

Permalink

https://www.aetoswire.com/en/news/2803202438461

Contacts

For media enquiries: media@cirium.com

VeriSilicon’s complete Bluetooth Low Energy IP solution is fully compliant with LE Audio specification

 

SHANGHAI - 

Enabling higher quality audio streaming across various applications with lower power and cost

(BUSINESS WIRE)--VeriSilicon (688521.SH) today announced its complete Bluetooth Low Energy (BLE) IP solution has achieved full compliance with LE Audio specification, including certifications for the LE Audio protocol stack and Low Complexity Communications Codec (LC3). This solution is applicable to mobile phones, Bluetooth earphones including True Wireless Stereo (TWS) earphones, speakers, and other extensive audio application scenarios. The declaration details can be accessed on Bluetooth SIG’s website by searching for its Qualified Design ID (QDID: 206187).

LE Audio is the new Bluetooth audio technology standard introduced by Bluetooth SIG based on Bluetooth 5.2 and above specifications, aiming to deliver a higher quality audio experience. VeriSilicon’s complete BLE IP solution includes RF IP, baseband IP, software protocol stack, and has already passed the Bluetooth 5.3 certification. This solution leverages BLE technology, offering lower power consumption, and employs Isochronous Channels transmission technology for lower audio transmission latency and improved signal quality. Moreover, the solution also supports innovative Bluetooth capabilities of LE Audio such as Auracast™ broadcast audio and Multi-Stream Audio.

VeriSilicon’s complete BLE IP solution integrates its self-developed LC3 to deliver real-time, low-power, and low-distortion audio processing. It supports various calculation precisions including 16-bit, 32-bit fixed-point processing, and 32-bit floating-point processing, while also accommodating all audio profiles of LE Audio, thus catering to diverse application scenarios. It has been deeply optimized for VeriSilicon’s ZSP Digital Signal Processor (DSP) and mainstream processors like Arm Cortex-M and RISC-V, minimizing memory and CPU resource usage, and can be easily ported to other MCUs and DSPs. VeriSilicon’s LC3 can be licensed independently for flexible integration. When seamlessly integrated with VeriSilicon’s BLE controller and protocol stack, it can also provide customers with a complete LE Audio hardware and software solution, streamlining the development process for high-performance audio products.

“Through years of dedicated work in Bluetooth technology, we have developed hardware reference designs and application software solutions tailored to different market demands based on our proprietary IPs and IoT embedded software platforms. Obtaining full LE Audio certification will further empower our customers to develop next-generation audio products more efficiently with reduced power consumption and costs, thus expediting product launches,” said Wiseway Wang, Senior Vice President and General Manager of Custom Silicon Platform Division at VeriSilicon. “Moving forward, VeriSilicon will explore new LE Audio application scenarios, bringing more comprehensive solutions to customers. We also look forward to seeing our customers launch more innovative LE Audio products by leveraging VeriSilicon’s solutions to jointly propel the advancement of Bluetooth audio technology and market.”

About VeriSilicon

VeriSilicon is committed to providing customers with platform-based, all-around, one-stop custom silicon services and semiconductor IP licensing services leveraging its in-house semiconductor IP. For more information, please visit: www.verisilicon.com

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240325961067/en/

Permalink

https://www.aetoswire.com/en/news/53914561eng

Contacts

 

Media Contact: press@verisilicon.com

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women

SAN FRANCISCO - Thursday, 28. March 2024

LambdaTest launched an Employee Resource Group called The Phoenix Project to support and empower its female employees.

(BUSINESS WIRE) -- LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees.

“LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.”

The Phoenix Project Aims To:

Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives.

Provide mentorship programs connecting senior female employees with mentees.

Promote leadership development among women within the company.

Create a sense of community for women in the workplace.

Leadership and Organization:

The Phoenix Project will be led by a volunteer steering committee from various departments and experience levels. The committee will be responsible for setting strategic direction, organizing events and initiatives, managing communication, and allocating resources.

Activities and Events:

The Phoenix Project will offer a variety of activities throughout the year, including:

Professional development workshops on topics relevant to women in the workplace.

Mentorship programs to connect senior female employees with mentees.

Skill development workshops to provide sessions tailored to enhance women's professional growth.

Community outreach events with organizations that support women.

Communication and Collaboration:

The Phoenix Project will utilize various communication channels to keep members informed, including a quarterly calendar, a dedicated channel on the company communication platform, a newsletter, and information boards.

Evaluation and Feedback:

LambdaTest is committed to evaluating the effectiveness of The Phoenix Project and continuously improving its initiatives through feedback from members, leaders, and stakeholders.

Confidentiality and Safety:

The Phoenix Project strives to provide a safe and confidential space for members to discuss challenges and share ideas.

For more information about LambdaTest DEI Policies, visit https://www.lambdatest.com/resources/DEI-Policy.pdf

About LambdaTest

LambdaTest is an intelligent and omnichannel enterprise execution environment that helps businesses drastically reduce time to market through Just in Time Test Orchestration (JITTO), ensuring quality releases and accelerated digital transformation. Over 10,000+ enterprise customers and 2+ million users across 130+ countries rely on LambdaTest for their testing needs.

Browser & App Testing Cloud allows users to run both manual and automated tests of web and mobile apps across 3000+ different browsers, real devices, and operating system environments.

HyperExecute helps customers run and orchestrate test grids in the cloud for any framework and programming language at blazing-fast speeds to cut down on quality test time, helping developers build software faster.

For more information, please visit, https://lambdatest.com

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240328290042/en/

Permalink

https://www.aetoswire.com/en/news/2803202438472

Contacts

LambdaTest press office: press@lambdatest.com

Tigo Energy Headquarters Receives 90kW of Optimized Solar from Long-Time Installer Partner

CAMPBELL, Calif. - Thursday, 28. March 2024

Tigo Energy installation partner Laibach Solar optimizes the solar system at Tigo US headquarters to overcome shading challenges and maximize energy gain with Reclaimed Energy.


(BUSINESS WIRE)--Tigo Energy, Inc. (NASDAQ: TYGO), a leading provider of intelligent solar and energy software solutions, today announced the installation and commissioning of a rooftop solar system at its headquarters in California. The system was designed and deployed by Tigo installer partner, Laibach Solar, and has averaged 5% Reclaimed Energy since it was commissioned. Laibach Solar is an employee-owned solar installer in Northern California dedicated to combining high-quality components with unbeatable pricing. It has been a valued installation partner for Tigo since 2018. The installation now contributes to the growth of U.S. corporate solar adoption, which was 14% of the U.S. Solar Market as of 2022, according to the Solar Energy Industries Association.

The installation is equipped with 180 Tigo TS4-A-O MLPE devices, the Tigo Access Point (TAP), and the Tigo Cloud Connect Advanced (CCA) data logging device. The 90kW system design, which includes 180 500W solar modules and a Solectria inverter, had to overcome significant shading challenges from existing roof features. By deploying its own technology, the performance of the system on the Tigo headquarters will only be minimally impacted by shading throughout the day and be further boosted by Tigo Reclaimed Energy technology. Tigo will also benefit from module-level monitoring and advanced rapid shutdown safety measures to protect solar professionals, building maintenance personnel, and first responders.

“We have used Tigo products on many projects over the years because of the quality and design flexibility they deliver, and it was great to design a system for the Tigo headquarters where we were able to overcome shading constraints from the barrier wall structures with their own technology,” said Dejan Obradovic, owner at Laibach Solar. “While this system is clearly something of a crown jewel for us as a solar installation company, there is no doubt that the pressure is also on, which is why we are using the Energy Intelligence monitoring platform and Tigo EI Professional to keep an eye on things. Tigo is a great partner on our solar mission, and we look forward to many more years of empowering solar with great software and a shared commitment to quality.”

With the Tigo Energy Intelligence monitoring platform, Laibach Solar and Tigo Energy have full control and visibility over the installation. This platform not only allows Tigo to monitor Reclaimed Energy and shading occurrences but also provides optimization insights, ensuring the system operates at its peak efficiency. The Tigo Energy Intelligence Portal gives insight into Reclaimed Energy, or the amount of energy that would have been lost due to shading and any module mismatch. On typical sunny days, the rooftop system at the Tigo headquarters is projected to reclaim an average of approximately 14kWh, daily.

“I want to thank the team at Laibach Solar for the great system design and a very high-quality installation, particularly as it relates to overcoming a tricky combination of shading and permitting constraints,” said Jing Tian, chief growth officer at Tigo Energy. “With the setup we have today, our solar output is being optimized to give us the best possible gain in the form of Reclaimed Energy, which helps us constantly shave off of the power demand we would have for the grid. This system is exactly the kind of result that a commitment to Total Quality Solar can produce.”

In the spirit of the timeless manufacturing principles of Total Quality Management, Total Quality Solar (TQS) is a principle that guides a continual process of detecting and reducing errors in the design, installation, and equipment throughout the solar ecosystem.

To learn more about the Tigo Energy Intelligence platform, sign up for a custom demo here. To inquire about products, contact the sales team here.

About Tigo Energy

Founded in 2007, Tigo is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The company also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit www.tigoenergy.com.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240328503393/en/

Permalink
https://www.aetoswire.com/en/news/2803202438467

Contacts

Cait Caviness
Technica Communications, for Tigo Energy
Email: tigoenergy@technica.inc

Lifezone Metals Closes Private Placement of US$50 Million of Unsecured Convertible Debentures

 (BUSINESS WIRE)--Lifezone Metals Limited (NYSE: LZM) is pleased to announce the closing in escrow of the previously disclosed US$50 million non-brokered private placement of unsecured convertible debentures. These debentures have been issued to a consortium of marquee mining investors, led by Harry Lundin (Bromma Asset Management Inc.) and Rick Rule.

The unsecured convertible debentures bear interest over a 48-month term, payable quarterly, at a rate of the Secured Overnight Financing Rate (“SOFR”) plus 4.0% per annum, subject to a SOFR floor of 3.0%. The debentures can be redeemed early by Lifezone, subject to the achievement of certain conditions, at a price of 105% plus interest otherwise payable to the maturity date. Interest is payable quarterly via a mix of cash and shares during the first two years and all in cash during the last two years.

The debentures are convertible into common shares of Lifezone at the option of the holder at a price of US$8.00 per share, and is subject to customary adjustments. Mandatory conversion can occur if Lifezone’s share price is greater than 50% above the conversion price for any 15 trading days within a 30 consecutive trading days period.

Net proceeds, once received, will be used to advance the Kabanga Nickel Project and for general corporate and administrative purposes.

The convertible debentures referred to in this notice have not been and will not be registered under the United States Securities Act of 1933 or with any securities regulatory authority of any state of the United States and may not be offered or sold within the United States absent registration or an applicable exemption from registration requirements.

If you would like to sign up for Lifezone Metals news alerts, please register here.

About Lifezone Metals

At Lifezone Metals (NYSE: LZM), our mission is to provide cleaner and more responsible metals production and recycling. Using a scalable platform underpinned by our Hydromet Technology, we offer lower energy, lower emission and lower cost metals production compared to traditional smelting.

Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade undeveloped nickel sulfide deposits. By pairing with our Hydromet Technology, we are working to unlock a new source of LME-grade nickel, copper and cobalt for the global battery metals markets, and empower Tanzania to achieve full in-country value creation and become the next premier source of Class 1 nickel. A Definitive Feasibility Study for the project is due for completion by Q3 2024.

Through our US-based, platinum, palladium and rhodium recycling joint venture, we are working to demonstrate that our Hydromet Technology can process and recover platinum group metals from responsibly sourced spent automotive catalytic converters in a cleaner and more efficient way than conventional smelting and refining methods.

https://lifezonemetals.com

Forward-Looking Statements

Certain statements made herein are not historical facts but may be considered “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended and the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995 regarding, amongst other things, the plans, strategies, and prospects, both business and financial, of Lifezone Metals Limited and its subsidiaries and/or affiliates.

Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters; provided that the absence of these does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding future events, the estimated or anticipated future results of Lifezone Metals, future opportunities for Lifezone Metals, including the efficacy of Lifezone Metals’ hydrometallurgical technology (Hydromet Technology) and the development of, and processing of mineral resources at, the Kabanga Project, and other statements that are not historical facts.

These statements are based on the current expectations of Lifezone Metals’ management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lifezone Metals and its subsidiaries. These statements are subject to a number of risks and uncertainties regarding Lifezone Metals’ business, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions, including but not limited to the economic and operational disruptions; global inflation and cost increases for materials and services; reliability of sampling; success of any pilot work; capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; changes in government regulations, legislation and rates of taxation; inflation; changes in exchange rates and the availability of foreign exchange; fluctuations in commodity prices; delays in the development of projects and other factors; the outcome of any legal proceedings that may be instituted against the Lifezone Metals; our ability to obtain additional capital, including use of the debt market, future capital requirements and sources and uses of cash; the risks related to the rollout of Lifezone Metals’ business, the efficacy of the Hydromet Technology, and the timing of expected business milestones; the acquisition of, maintenance of and protection of intellectual property; Lifezone’s ability to achieve projections and anticipate uncertainties relating to our business, operations and financial performance, including: expectations with respect to financial and business performance, financial projections and business metrics and any underlying assumptions; expectations regarding product and technology development and pipeline; the effects of competition on Lifezone Metals’ business; the ability of Lifezone Metals to execute its growth strategy, manage growth profitably and retain its key employees; the ability of Lifezone Metals to reach and maintain profitability; enhancing future operating and financial results; complying with laws and regulations applicable to Lifezone Metals’ business; Lifezone Metals’ ability to continue to comply with applicable listing standards of the NYSE; the ability of Lifezone Metals to maintain the listing of its securities on a U.S. national securities exchange; our ability to comply with applicable laws and regulations; stay abreast of modified or new laws and regulations applying to our business, including privacy regulation; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (SEC).

The foregoing list of risk factors is not exhaustive. There may be additional risks that Lifezone Metals presently does not know or that Lifezone Metals currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Lifezone Metals’ expectations, plans or forecasts of future events and views as of the date of this communication. Lifezone Metals anticipates that subsequent events and developments will cause Lifezone Metals’ assessments to change. However, while Lifezone Metals may elect to update these forward-looking statements in the future, Lifezone Metals specifically disclaims any obligation to do so.

These forward-looking statements should not be relied upon as representing Lifezone Metals’ assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which are based upon information available to us as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. In all cases where historical performance is presented, please note that past performance is not a credible indicator of future results.

Except as otherwise required by applicable law, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data, or methods, future events, or other changes after the date of this communication, except as required by applicable law.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240327166672/en/

Permalink

https://www.aetoswire.com/en/news/20240327166672r1

Contacts

 

Investor Relations – North America

Evan Young

SVP: Investor Relations & Capital Markets

evan.young@lifezonemetals.com

Investor Relations – Europe

Ingo Hofmaier

Chief Financial Officer

ingo.hofmaier@lifezonemetals.com

Media Enquiries

David Petrie

Manager: Corporate Communications

david.petrie@lifezonemetals.com

Guidewire Jasper Release Boosts Commercial Lines Agility for P&C Insurers and Strengthens Functionality Across Entire Product Portfolio

  SAN MATEO, Calif. - Thursday, 28. March 2024 AETOSWire  

(BUSINESS WIRE)--Guidewire (NYSE: GWRE) announces Jasper, its latest release, which boosts commercial lines agility for P&C insurers with support for layered coinsurance, schedule import, and a new U.S. Bureau Content Solution.* Additionally, expanded HazardHub data for Canada gives insurers deeper property risk insights for underwriting precision. Jasper release will be generally available on April 5, 2024.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328607054/en/

“Commercial lines insurers face both risk and opportunity. On the one hand, there are economic fluctuations, including inflation, geopolitical complexities, capital limitations, and environmental challenges. On the other hand, the protection gap creates growth opportunities for insurers that innovate to stay ahead of the evolving risk landscape,” said Eugene Lee, senior vice president and general manager, InsuranceSuite, Guidewire.

For P&C insurers seeking to improve commercial lines efficiency, Jasper enables faster policy issuance and processing through its flexible, cloud-based platform designed specifically for commercial lines. Enhancements in Jasper include:

Layered coinsurance reduces risk exposure by structuring risk sharing for non-layered and layered coinsurance arrangements in PolicyCenter and automatically generates all necessary splits and charges in BillingCenter.

Schedule import, a new flexible import wizard in PolicyCenter, empowers underwriters and agents to capture more commercial lines business by allowing them to upload and automatically import spreadsheets containing fleet vehicle/driver details and building information.

A new U.S. Bureau Content Solution* enables insurers to maintain regulatory compliance and stay current with the latest rates, rules, and forms by providing continuously updated commercial lines content from ISO (Insurance Services Office, Inc.), NCCI (National Council on Compensation Insurance), and state workers’ compensation bureaus. The solution accelerates the launch of bureau-compliant commercial lines while eliminating the challenges of managing the circular update process.

Jasper continues Guidewire’s investment in making enhancements across its platform. Expanded HazardHub Canada data now gives underwriters and actuaries even deeper insight into property risks with 11 new risk factors, including wildfire scores, and 100 new data elements.

For more details about these and all the other new capabilities Jasper delivers, visit www.guidewire.com/Jasper.

*Indicates product feature is available for Early Access customers only.

About Guidewire

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 540 insurers in 40 countries, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,600+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on X (formerly known as Twitter) and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices/. All products mentioned in this announcement are Guidewire products. Not all products are available in every geography or to self-managed customers. Any unreleased services or features referenced in this, or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Guidewire applications should make their purchase decisions based upon features that are currently available.

Cautionary Language Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the general availability of features, programs, services, and tools related to Jasper mentioned in this press release (including, without limitation layered coinsurance, schedule import, U.S. Bureau Content Solution, and HazardHub). These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Guidewire’s control. Guidewire’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Guidewire’s most recent Forms 10-K and 10-Q filed with the Securities and Exchange Commission as well as other documents that may be filed by Guidewire from time to time with the Securities and Exchange Commission. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: quarterly and annual operating results may fluctuate more than expected; seasonal and other variations related to our customer agreements and related revenue recognition may cause significant fluctuations in our results of operations, ARR, and cash flows; our reliance on sales to and renewals from a relatively small number of large customers for a substantial portion of our revenue and ARR; our ability to successfully manage any changes to our business model, including the transition of our products to cloud offerings and the costs related to cloud operations and security; the timing, success, and number of professional services engagements and the billing rates and utilization of our professional services employees and contractors; recent global events (including, without limitation, the ongoing wars between Israel and Hamas and between Russia and Ukraine, escalating tensions in the South China Sea, high inflation, global pandemics, bank failures and associated financial instability and crises, and supply chain issues) and their impact on our employees and our business and the businesses of our customers, system integrator (“SI”) partners, and vendors; data security breaches of our cloud-based services or products or unauthorized access to our or our customers’ data; our competitive environment and changes thereto; issues in the development and use of artificial intelligence and machine learning combined with an uncertain regulatory environment; our services revenue produces lower gross margins than our license, subscription and support revenue; our product development and sales cycles are lengthy and may be affected by factors outside of our control; the impact of new regulations and laws (including, without limitation, security, privacy, artificial intelligence and machine learning, tax regulations and laws, and accounting standards); assertions by third parties that we violate their intellectual property rights; weakened global economic conditions may adversely affect the P&C insurance industry, including the rate of information technology spending; general political or destabilizing events, including war, conflict or acts of terrorism; our ability to sell our products is highly dependent on the quality of our professional services and SI partners; the risk of losing key employees; the challenges of international operations, including changes in foreign exchange rates in countries such as Argentina; and other risks and uncertainties. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Guidewire’s views as of the date of this press release. Guidewire anticipates that subsequent events and developments will cause its views to change. Guidewire undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Guidewire’s views as of any date subsequent to the date of this press release.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240328607054/en/

Permalink

https://www.aetoswire.com/en/news/2803202438458

Contacts

Melissa Cobb, Senior Public Relations Manager

Guidewire Software

+1 650-464-1177

mcobb@guidewire.com