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GDIN CEO Jongkap Kim: "By matching technology needs with local markets, we create long-lasting joint ventures with multiple exit opportunities." SEOUL, South Korea, Dec. 24, 2024 /PRNewswire/ -- Global Digital Innovation Network (GDIN), led by CEO Jongkap Kim, proudly announced the major achievements of its 2024 Joint Venture Program. This program, which supports the establishment of joint ventures between South Korean companies and international partners, is designed to lower market entry barriers and create sustainable growth opportunities through local collaborations. 9 companies successfully established 10 joint ventures. Since the launch of the program in 2021, GDIN has supported the establishment of 44 joint ventures across various regions. This year alone, 10 joint ventures were successfully launched in 8 countries including the United States, Canada, Japan, India, Singapore, Vietnam, UAE, and Uganda. The Joint Venture Program was created to address a common challenge faced by early-stage tech companies: while they may have products and services that meet market demand, they often lack the resources and workforce to enter international markets. Through this program, GDIN helps companies increase their chances of success by facilitating strategic market entry via local partnerships. In addition to the 44 joint ventures established so far, 47 partnership agreements are in the pipeline for future joint ventures. The program's success is largely attributed to GDIN's extensive global network of partners, which includes government organizations, multinational corporations, and international agencies such as the World Bank, Central American Bank for Economic Integration (CABEI), Inter-American Development Bank (IDB), Investment Turkey etc. GDIN has organized multiple technology matching and investor relations events to introduce Korean companies and their innovative technologies to potential international partners. At the year-end performance report event, held on December 19, GDIN recognized companies that successfully established joint ventures. Changsoft I&I, a digital construction management system company, was highlighted for its success in establishing joint ventures in Japan and Vietnam. CFO Jongeun Park of Changsoft I&I shared, "We were facing stagnating revenue growth, and expanding into new markets was critical. With GDIN's support, we were able to establish joint ventures in Japan and Vietnam, allowing us to tailor our products to local market needs." Other companies that successfully established joint ventures in 2024 include Medicos Biotech, Bloomsbury Lab, Arbaim, Eucast, Pixelro, Hansol root one, Eco-Peace, and IESG. GDIN CEO Jongkap Kim commented, "Unlike simple joint investments or distribution networks, these technology-driven joint ventures are based on market demand, ensuring their long-term sustainability. If these joint ventures achieve success in the local markets and even go public, they could offer multiple exit opportunities, creating a strong growth model for all involved." About GDIN Global Digital Innovation Network (formerly known as Born2Global Centre), registered under the Ministry of Science & ICT, is an independent foundation that promotes and fosters collaboration between next-level innovative companies from South Korea and the world. Since 2013, we have established over 160 international partnerships, supported over 3,000 tech companies, conducted over 20,000 consulting services, and helped companies raise $3.6 billion USD in investments.
HONG KONG SAR - Media OutReach Newswire – 16 July 2025 - This news release is made by Johnson Electric Holdings Limited ("Johnson Electric" or the "Company" and together with its subsidiaries, the "Group") for the business operations and selected unaudited financial information of the Group for the three months ended 30 June 2025 and the formation of joint ventures in the PRC for humanoid robotics business. Business and Unaudited Financial Information for the First Quarter of Financial Year 25/26 The Group's sales for the three months ended 30 June 2025 were US$915 million compared to US$935 million for the same period in the previous financial year, a decrease of 2%. Exchange rate movements had a favourable impact of US$9 million on the Group's sales during the period. Sales of Automotive Products Group ("APG") APG's sales for the three months ended 30 June 2025 were US$765 million, a decrease of US$23 million or 3% compared to the same period in financial year 24/25. Excluding currency effects, APG's sales decreased by US$30 million or 4%. The division's sales changes by region, excluding currency effects, were as follows: Three months ended 30 June 2025 Asia-Pacific 9% Decrease Europe, the Middle East and Africa 2% Increase Americas 4% Decrease Total 4% Decrease In Asia-Pacific, sales decreased by 9%. Sales of products for closure, thermal management, oil pump and steering applications decreased, partially offset by increased sales of products for braking applications. The decline in sales in the region was primarily driven by significantly reduced demand for non-domestic car brands in China, a category where APG has historically maintained an above-average market share, as well as price adjustments made in response to competitive market conditions. However, accelerating growth in sales to domestic car brands in China partially offset this decline. In Europe, the Middle East and Africa ("EMEA"), sales increased by 2%. Sales of products for braking, oil pump, steering, engine and fuel management applications increased, partially offset by decreased sales of products for closure and vision applications. In the Americas, sales decreased by 4%. Sales of products for braking, oil pump and engine and fuel management applications decreased due to the phasing out of some programs and weak demand from certain customers. This decline was partially offset by increased sales of powder metal components. Sales of Industry Products Group ("IPG") IPG's sales for the three months ended 30 June 2025 were US$150 million, an increase of US$2 million or 2% compared to the same period in the previous financial year. Excluding currency effects, IPG's sales increased by US$1 million or 1%. The overall performance reflects a mixed regional picture, shaped by varying market and customer dynamics. The division's sales changes by region, excluding currency effects, were as follows: Three months ended 30 June 2025 Asia-Pacific 7% Decrease Europe, the Middle East and Africa 14% Increase Americas 5% Decrease Total 1% Increase In Asia-Pacific, sales decreased by 7%, primarily due to both IPG as well as some of its customers experiencing keen price competition in certain product segments, where the focus of purchasing decisions has shifted towards low cost over product application features and bespoke design. The decline was further exacerbated by certain customers postponing planned program launches. In EMEA, sales increased by 14%, due to the combination of the ramp-up of existing programs and new product launches, as well as replenishment orders from certain customers after their consumption of previous inventory surpluses. In the Americas, sales decreased by 5% mainly due to weak demand from certain customers and some programs reaching end of life. This was partially offset by increase in sales of piezo motors, which benefited from robust demand for medical drug-dosing systems as well as high-precision equipment utilized in semiconductor foundries. Chairman's Comments on Sales Performance and Outlook Commenting on the first quarter's sales performance, Dr. Patrick Wang, Chairman and Chief Executive, said: "Johnson Electric's sales in the first quarter of the financial year compared to the same period in the prior year reflected the more subdued macroeconomic environment, as well as the impact of declines in the market share of non-domestic automotive OEM customers in China". Concerning the outlook for the remainder of the financial year 25/26, Dr. Wang said: "Until a clearer picture of the global tariff landscape emerges, we can expect customers to remain cautious in their purchasing and investment decisions. In the short term, this is likely to be a drag on sales, though we remain encouraged by our pipeline of new product launches and new business developments that should underpin growth in the second half of the financial year". Formation of Joint Ventures in the PRC for Humanoid Robotics Business The Company today announced that the Group entered into two equity joint venture agreements with Shanghai Mechanical & Electrical Industry Co., Ltd. ("SMEIC") in relation to the formation of two equity joint ventures. The first joint venture will be incorporated in Shanghai which will primarily serve as a sales channel for products manufactured by the second joint venture, as well as support business development, research and development, application engineering, and customer service for humanoid robotic solutions in the People's Republic of China (''PRC''). The second joint venture will be incorporated in Shenzhen which will serve as the engineering design, research and development, and manufacturing base for humanoid robot hardware modules and hardware system integration solutions. Each of the Group and SMEIC will invest RMB75 million in the two joint ventures. SMEIC is a leading PRC-based electromechanical equipment manufacturing company and is listed on the Shanghai Stock Exchange. "The two joint ventures are structured to complement one another - combining sales, business development and customer application support with product design, engineering, and manufacturing expertise. Together, they will enable the end-to-end delivery of high-performance humanoid robotic core components and subsystems to customers across the PRC.", said, Austin Wang, Executive Vice President. "The formation of the joint ventures represents a significant milestone in the Group's long-term strategy to expand its presence in the robotics sector." Cautionary Statement Regarding Forward-Looking Information This news release contains forward-looking statements regarding the financial condition, results of operations, and business plans of Johnson Electric and its Group, including the formation of joint ventures and the Group's outlook for the full year. These statements are based on current expectations, unaudited internal records, and management accounts, which have not been reviewed or audited by the Company's auditors and are subject to risks and uncertainties. Forward-looking statements can be identified by words such as "outlook", "expects", "anticipates", "intends", "plans", "believes", "estimates", "projects", and similar expressions. Such statements are subject to known and unknown risks and uncertainties, and actual results may differ materially from those expressed or implied in these statements. Shareholders and potential investors are advised to exercise caution when dealing or investing in the shares of the Company. Hashtag: #JohnsonElectricThe issuer is solely responsible for the content of this announcement.About Johnson Electric GroupThe Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 30,000 individuals across more than 20 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: www.johnsonelectric.com.
Expansion into long-stay lodging segment is part of Frasers Hospitality's transformation and growth strategy SINGAPORE, May 23, 2023 /PRNewswire/ -- Frasers Hospitality, a strategic business unit of Frasers Property, is pleased to announce the formation of two joint ventures with established real estate players, Tishman Speyer and Alyssa Partners, in China and Japan, respectively. As part of these joint ventures, Frasers Hospitality has entered into two sale and purchase agreements to acquire its inaugural premium rental apartment assets in Shenzhen, China and Osaka, Japan with a combined asset value of approximately S$170 million. Tapping into North Asia's burgeoning long-stay segment The long-stay lodging segment in key locations across North Asia, particularly in Japan and China, has demonstrated resilience and tremendous growth potential over the past decade, driven by robust demand supported by a combination of demographic, economic and social factors driven by rapid urban migration. Housing affordability has also increasingly become a pressing issue in the aftermath of the COVID-19 pandemic which led to stronger demand for rental apartments. The premium rental apartment assets will complement Frasers Hospitality's existing portfolio and deepen its presence in North Asia. With these timely acquisitions, Frasers Hospitality will be better placed to capture opportunities from the long-stay segment. The 325-unit premium rental apartment in Shenzhen, China, is a leasehold asset jointly acquired with Tishman Speyer. Situated in the heart of the Luohu commercial and shopping district and within walking distance of the nearest train station, the property is well-positioned to benefit from Luohu's strategic location as a key transportation hub between Shenzhen and Hong Kong as well as the district's future growth potential with the launch of Luohu's urban renewal plans in the next decade. The property, which will be managed and branded under Frasers Hospitality, forms part of a mixed-use development project that topped off last year and is slated to open in the fourth quarter of 2024, significantly reducing its time to market. The 124-unit premium rental apartment in Osaka, Japan, is a freehold asset acquired through a joint venture with Alyssa Partners. It is situated in the Namba precinct, a major commercial district in Osaka, and is within walking distance of the nearest subway station. The property is currently operational and at close to full occupancy. Osaka has been undergoing revitalisation in the lead-up to World Expo 2025 and the city has recently approved the development of Japan's first integrated resort. These developments bode well for the growth potential and continued attractiveness of Osaka and the property is set to continue benefitting from the rising demand in the long-stay segment. Expanding the portfolio with quality long-stay lodging assets The acquisitions are in line with Frasers Hospitality's post-pandemic transformation and expansion strategy to evolve into an international lodging real estate player and strengthen its position and growth as an investor of choice in the long-stay lodging segment. It also serves as a catalyst for Frasers Hospitality to deepen its presence and widen its reach within the long-stay lodging segment in key gateway locations. Commenting on the joint ventures and acquisitions, Ms Eu Chin Fen, Chief Executive Officer of Frasers Hospitality said, "Long-stay lodging assets have become increasingly resilient and attractive as an asset class. We look forward to mutually beneficial long-term partnerships with our established joint venture partners, who have chosen to join hands with Frasers Hospitality to leverage our seamless, integrated investment model and long-standing operational expertise to add value to their investments. These acquisitions attest to our local teams' extensive business networks and strong deal expertise to source for attractive, scalable investment opportunities. We continue to seek compelling opportunities to further expand in the long-stay lodging segment with the aim of delivering quality and sustainable returns." Riding on travel rebound wave as China reopens The pair of acquisitions adds to Frasers Hospitality's expanding portfolio in North Asia with close to 3,400 units in 16 properties across China, Japan and South Korea. Following the recent signing of a management agreement in Chengdu, China, under the Modena brand, there will also be a total of 11 properties in multiple cities across North Asia slated to open over the next three years. The launch of these properties comes at an opportune time as Frasers Hospitality continues to ride on the travel recovery trajectory in the post-pandemic landscape. Mr Mark Chan, Chief Operating Officer of Frasers Hospitality said, "North Asia is an important market to Frasers Hospitality and we are excited about the expansion momentum in this region. Growth in other regions is also gathering pace with new properties soon to open in Singapore and Cambodia, and we look forward to sharing more news of our developments as our strong pipeline benefits from normalisation in the travel and lodging industry." About Frasers Hospitality Frasers Hospitality, a strategic business unit of Frasers Property, celebrates 25 years of offering memorable experiences to guests with its Gold-Standard serviced and hotel residences across Asia, Australia, Europe, the Middle East and Africa. Growing from two properties in Singapore to more than 120 properties in over 70 cities, Frasers Hospitality is now one of the world's largest and fastest-growing providers of serviced and hotel residences and investors in the long-stay lodging segment. Conceived with the lifestyle preferences of today's discerning business and leisure travellers in mind, the global hospitality operator has three Gold-Standard serviced residence offerings – Fraser Suites, Fraser Residence and Fraser Place, a modern and eco-lifestyle brand, Modena by Fraser, and a design-led hotel residence brand, Capri by Fraser. With a remarkable list of accolades and awards as recognition of its success, Frasers Hospitality remains committed to anticipating and exceeding the evolving needs of executive travellers with continuous innovation and intuitive service, creating a second home for guests where staff feel like family and residents feel like a community. For more information on Frasers Hospitality, please visit www.frasershospitality.com. About Frasers Property Limited Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group" or the "Group"), is a multinational investor-developer-manager of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$40.1 billion as at 31 March 2023. Frasers Property's multinational businesses operate across five asset classes, namely, residential, retail, commercial & business parks, industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 20 countries and more than 70 cities across Asia, Australia, Europe, the Middle East and Africa. Frasers Property is also the sponsor of two real estate investment trusts ("REITs") and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties, respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties. As a purpose-led organisation, the Group is committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on its people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It is committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and is invested in promoting a progressive, collaborative and respectful culture. For more information on Frasers Property, please visit www.frasersproperty.com or follow us on LinkedIn.
Companies announce first quantum computer in the Middle East dedicated to industrial applications Technological milestone will accelerate development of quantum applications in the energy, materials and industrial sectors Deployment builds on Aramco's advanced digital capabilities, with potential to further elevate operations and unlock additional value Pasqal strengthens its position as a global leader with delivery of the first neutral-atom quantum computer in the region DHAHRAN, Saudi Arabia, Nov. 25, 2025 /PRNewswire/ -- Aramco, one of the world's leading integrated energy and chemicals companies, in partnership with Pasqal, a global leader in neutral-atom quantum computing, have achieved a major breakthrough for the Middle East's technology landscape with the successful deployment of Saudi Arabia's first quantum computer — and the region's first quantum computer dedicated to industrial applications. The deployment of Pasqal's quantum computer powered by neutral-atom technology at Aramco's data center, in Dhahran, marks a pivotal step in building regional expertise and accelerating the development of quantum applications across the energy, materials, and industrial sectors in the Kingdom of Saudi Arabia and the broader Middle East. It aligns with Aramco's strategy to leverage advanced digital technologies to enhance operational efficiency, accelerate innovation and create long-term value. It also reflects Pasqal's global mission to deliver practical, industry-ready quantum solutions to strategic sectors worldwide. Ahmad O. Al-Khowaiter, Aramco EVP of Technology & Innovation, said: "Aramco is an established technology leader, which continues to innovate through the development and deployment of advanced digital solutions that have tangible benefits. We are deploying AI and other technologies at scale to further enhance our operations, maximize efficiency and unlock value across our business. Our partnership with Pasqal is a natural progression and we are thrilled to pioneer next-generation quantum capabilities, harnessing significant opportunities presented by this new frontier in computing." Loïc Henriet, Pasqal CEO, said: "This is a historic milestone with Aramco. The deployment of our most powerful quantum computer yet is a piece of history and a landmark for the Middle East's quantum future. Pasqal continues its expansion, delivering practical quantum power to industry." Wa'ed Ventures, part of Aramco's venture capital program, initially invested in Pasqal in January 2023, making it one of the company's early strategic investors. Since then, Wa'ed Ventures has actively supported Pasqal's efforts to localize its technologies and operations in Saudi Arabia, enabling the company to build a strong presence in the Kingdom and contribute to the development of a regional quantum ecosystem. Pasqal's system installed at Aramco's data center can control 200 qubits arranged in programmable two-dimensional arrays, offering a platform suitable for exploring advanced quantum algorithms and real-world use cases relevant to industrial operations. As part of the partnership, Pasqal will also provide training programs and joint research opportunities for Saudi engineers and scientists, strengthening the Kingdom's quantum ecosystem and supporting the development of high-tech talent. X @aramco About Aramco As one of the world's leading integrated energy and chemicals companies, our global team is dedicated to creating impact in all that we do, from providing crucial oil supplies to developing new energy technologies. We focus on making our resources more dependable, more sustainable and more useful, helping to promote growth and productivity around the world. https://www.aramco.com About Pasqal Pasqal is a leading Quantum Computing company that builds quantum processors from ordered neutral atoms in 2D arrays to bring a practical quantum advantage to its customers and address real-world problems. Pasqal was founded in 2019, out of the Institut d'Optique, by Georges-Olivier Reymond, Christophe Jurczak, Professor Dr. Alain Aspect, Nobel Prize Laureate Physics, 2022, Dr. Antoine Browaeys, and Dr. Thierry Lahaye. Pasqal has secured more than €140 million in financing to date. To learn more about us, visit www.pasqal.com. DisclaimerThe press release contains forward-looking statements. All statements other than statements relating to historical or current facts included in the press release are forward-looking statements. Forward-looking statements give the Company's current expectations and projections relating to its capital expenditures and investments, major projects, upstream and downstream performance, including relative to peers. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target," "believe," "expect," "aim," "intend," "goal," "may," "anticipate," "estimate," "plan," "project," "can have," "likely," "should," "could," and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the Company's actual results, performance or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward-looking statements, including the following factors: global supply, demand and price fluctuations of oil, gas and petrochemicals; global economic conditions; competition in the industries in which Saudi Aramco operates; climate change concerns, weather conditions and related impacts on the global demand for hydrocarbons and hydrocarbon-based products; risks related to Saudi Aramco's ability to successfully meet its ESG targets, including its failure to fully meet its GHG emissions reduction targets by 2050; conditions affecting the transportation of products; operational risk and hazards common in the oil and gas, refining and petrochemicals industries; the cyclical nature of the oil and gas, refining and petrochemicals industries; political and social instability and unrest and actual or potential armed conflicts in the MENA region and other areas; natural disasters and public health pandemics or epidemics; the management of Saudi Aramco's growth; the management of the Company's subsidiaries, joint operations, joint ventures, associates and entities in which it holds a minority interest; Saudi Aramco's exposure to inflation, interest rate risk and foreign exchange risk; risks related to operating in a regulated industry and changes to oil, gas, environmental or other regulations that impact the industries in which Saudi Aramco operates; legal proceedings, international trade matters, and other disputes or agreements; and other risks and uncertainties that could cause actual results to differ from the forward-looking statements in this press release, as set forth in the Company's latest periodic reports filed with the Saudi Exchange. For additional information on the potential risks and uncertainties that could cause actual results to differ from the results predicted please see the Company's latest periodic reports filed with the Saudi Exchange. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this press release and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the press release, including any financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on the forward-looking statements.
RIYADH, Saudi Arabia, Feb. 13, 2025 /PRNewswire/ -- EDF Saudi Arabia and TAQA Geothermal Energy Company have signed a strategic Memorandum of Understanding (MoU) to collaborate on geothermal energy technologies including power generation and HVAC applications as well as Compressed Air Energy Storage in Saudi Arabia. The agreement was formalized during the third edition of the PIF Private Sector Forum, held at the King Abdul Aziz International Conference Center in Riyadh, Saudi Arabia. EDF and TAQA Geothermal Sign Landmark MoU to Advance Geothermal Energy in Saudi Arabia The MoU was signed by Omar Aldaweesh, CEO of EDF Saudi Arabia, and Meshary Al-Ayed, CEO of TAQA Geothermal Energy Company, reinforcing the commitment of both companies to advancing innovative and decarbonised energy technologies in the Kingdom. The signing ceremony was attended by Gudmundur Thoroddsson, Chief Technology Officer of TAQA Geothermal and Chairman of Reykjavik Geothermal, the joint venture partner. Commenting on the MoU, Omar Aldaweesh, CEO of EDF Saudi Arabia, said:"This partnership is a natural progression of EDF's longstanding commitment to Saudi Arabia's energy sector. Over the past decade, we have been actively contributing to the Kingdom's energy landscape through our expertise in sustainable solutions, and this MoU further strengthens our role in advancing innovative technologies. By collaborating with TAQA Geothermal, we are leveraging our extensive experience to explore new frontiers in geothermal energies and compressed air energy storage. This initiative is fully aligned with both Saudi Arabia's Vision 2030 and EDF's Ambitions 2035, reinforcing our shared commitment to sustainability and to the country's transition to a cleaner energy future." Meshary Alayed, CEO of TAQA Geothermal, added:"Geothermal energy utilization whether via direct heat use or electricity generation is a critical and untapped resource to drive the global transition to clean energy, as it is a reliable, renewable base load resource. The partnership between EDF and TAQA Geothermal in the field of geothermal solutions redefining space cooling, will have tremendous positive impacts on efficiency and carbon footprint reduction. The combined strengths will demonstrate cutting-edge geothermal cooling systems for the Kingdom's growing energy needs while supporting Saudi Arabia's Vision 2030 in economic diversification and the Ministry of Energy's renewable energy mandates." This collaboration sets the stage for pioneering geothermal energy solutions in Saudi Arabia, paving the way for cleaner and more efficient power and cooling technologies. By leveraging their combined expertise, TAQA Geothermal and EDF aim to unlock the full potential of geothermal resources, reinforcing the Kingdom's leadership in renewable energy innovation. About the EDF Group The EDF Group is a key player in the energy transition, as an integrated energy operator engaged in all aspects of the energy business: power generation, distribution, trading, energy sales and energy services. The Group is a world leader in low-carbon energy, with a low carbon output of 434TWh, a diverse generation mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support the energy transition. EDF's raison d'être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group supplies energy and services to approximately 40.9 million customers (1) and generated consolidated sales of €139.7 billion in 2023. (1) Customers are counted per delivery site. A customer may have two delivery points. For more information: ksa.edf.comFollow us on LinkedIn: www.linkedin.com/showcase/edf-middleeast About TAQA Geothermal Energy Company TAQA Geothermal is a joint venture between the PIF majority owned upstream Energy services and well engineering company TAQA and Reykjavik Geothermal, headquartered in Iceland and a leader in the field of geothermal resources and project development. The joint venture was established in 2023 and announced during the Public Investment Fund forum in March 2023. TAQA Geothermal is active in the regional and international geothermal consultancy and project management fields with ongoing projects in Saudi Arabia and internationally. Resource assessment consultancy, designing and executing exploration and development programs and pilot project developments are all aligned to deliver on it's the vision of enabling clean, reliable and sustainable Geothermal Energy to the region. For more information: https://www.tq.com/what-we-do/taqa-ventures/subsidiaries/taqa-geothermal/ Follow us on LinkedIn: https://www.linkedin.com/company/taqa-geothermal/?viewAsMember=true
TOKYO, Oct. 9, 2024 /PRNewswire/ -- Ciconia Bioventures Inc. (Representative Director, Founder CEO: Toshio Fujimoto, "Ciconia") today announced its establishment as a joint venture company based on a master agreement signed on April 22, 2024 by Takeda Pharmaceutical Company Limited (TSE: 4502/NYSE: TAK, President and CEO, Christophe Weber, "Takeda"), Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, "Astellas"), and Sumitomo Mitsui Banking Corporation (President & CEO: Akihiro Fukutome, "SMBC"). (News release regarding the master agreement is here.) Ciconia seamlessly covers the entire process from early drug discovery research to establishment of biotech startups, with the aim of translating innovative technologies and drug discovery programs originating in Japan into clinical applications. Leveraging a wide range of promising drug discovery seeds from Japanese academia, biotech startups, and pharmaceutical companies, the company will focus on formulating development strategies and acquiring new data to enhance the value of these seeds, transforming them into high-potential assets with a greater likelihood of success. The company will also integrate additional R&D funding and experienced management teams to launch new innovative startups, increasing the number of successful biotech ventures emerging from Japan. To achieve these goals of advancing innovative drug discovery programs primarily originating from Japan into the global pharmaceutical market, incubating globally competitive drug discovery technology, and fostering entrepreneurship, Ciconia's incubation activities will be carried out in collaboration with academia, biotechnology ventures, and pharmaceutical companies across Japan, in a shared effort to unleash the potential of drug discovery ecosystem for the world. "Ciconia will evaluate early development stage seeds, establish its own company based on the selected seeds, raise funds worldwide and pursue global product development," said Toshio Fujimoto, Representative Director, Founder CEO at Ciconia. "Ultimately, we hope to deliver innovations from Japan to the world through our work." "The establishment of Ciconia is a significant step forward for the further growth of Japan's drug discovery ecosystem to lead global R&D," said Yasushi Kajii, Head of R&D Japan Region at Takeda. "Leveraging our extensive experience in supporting venture companies and entrepreneurs both domestically and internationally, we are committed to supporting startups emerging from Ciconia with excellent drug discovery seeds to expand globally." "We highly expect that Ciconia will activate Japan's drug discovery ecosystem in collaboration with a wide variety of players from industry, government, and academia, and deliver innovative therapeutics to patients around the world through its global expansion," said Issei Tsukamoto, Ph.D., Head of Business Development, Astellas. "We will provide multifaceted support to Ciconia based on our drug discovery and business expertise, and networks we have cultivated worldwide." "We will support Japan's resurgence by promoting the development of new technologies and industries through Ciconia Bioventures Inc., which aids in the development of new pharmaceuticals," added a representative for SMBC. About Ciconia Bioventures Inc. Location: - Headquarter: 2-26-1, Muraoka-Higashi, Fujisawa, Kanagawa 251-0012, Japan - Tokyo Office: 3-11-5, Nihonbashi-Honcho, Chuo-ku, Tokyo 103-0023, Japan Founded: August 2024 Capital: Approximately 600 million yen (including capital reserve) Management Team: - Representative Director, Founder CEO: Toshio Fujimoto - COO/CBO: Masaharu Tani - Interim CSO: Yoshinori Ikeura Homepage: https://www.ciconiabioventures.com
A12 藝術空間
Joint ventures
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