Day: June 14, 2023

Combining generative AI and property insights, Matterport’s digital twin platform aims to reshape the real estate landscape, optimizing interior design, space utilization, energy efficiency, safety, and accessibility while transforming property marketing strategies.

Matterport Announces Genesis

A Generative AI Initiative to Transform How Buildings are Designed, Built, and Managed

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c8bf89f8-4977-4c5e-be65-5359040b042f

SUNNYVALE, Calif., June 14, 2023 (GLOBE NEWSWIRE) — Matterport, Inc. (Nasdaq: MTTR), today announced Genesis, a new initiative that aims to deliver generative AI across its digital twin platform for customers looking to bolster the efficiency and profitability of their property portfolios worldwide.

Genesis combines Matterport’s stable of deep learning and computer vision innovations including Cortex AI and Property Intelligence, with generative AI to deliver a new generation of digital twins. They will be dynamic in nature: interiors easily removed, redesigned, and presented in dimensionally accurate 3D. New design concepts, operational layouts, and other space utilization requirements will be quickly evaluated and customized for buildings of any size, residential or commercial. The project builds upon Matterport’s decade-long expertise in artificial intelligence and its market-leading 3D spatial data library of more than 30 billion square feet of digitized physical space, to help customers market, manage, and reimagine every type of property across the built world– automatically.

“Matterport has been at the forefront of the digital transformation of the built world for more than a decade, fueled by our early advances in artificial intelligence,” said RJ Pittman, Chairman and CEO of Matterport. “Genesis is the continuation of that strategy to help Matterport and its partners create transformational digital experiences for properties and improve operations in buildings worldwide.”

Genesis (patent pending) will incorporate generative AI across our digital twin platform to dramatically improve operating efficiency and the decision-making process in the property sector. The project will combine Matterport’s valuable property insights with the ability to automatically enhance the design, layout, and utility of a property in dimensionally accurate, photorealistic 3D. Use cases include:

• Interior Design & Space Utilization: Helping homeowners, designers, and property managers reimagine a physical space with automated virtual interior design and staging, including making recommendations for how to optimize the use of these spaces.
• Design & Construction: Making it simpler for homeowners, architects and builders to create more efficient, sustainable and accessible buildings.
• Energy Efficiency: Providing insights on how to reduce energy consumption in buildings, potentially leading to lower energy bills and a smaller carbon footprint.
• Maintenance & Repairs: Proactively surfacing the most common maintenance and repair issues for buildings, along with tips on how to prevent them, helping building owners and managers address issues before they become costly problems.
• Safety & Security: Spotlighting potential safety and security risks for buildings, such as fire hazards or building code violations, along with recommendations for how to address these risks.

“Matterport is highly focused on delivering advanced AI capabilities across the digital twin platform to unlock new capabilities and upend how we manage property and space in the built world. This will greatly simplify property marketing, space planning, construction, property management and maintenance for all of our customers, old and new,” Pittman added.

Matterport has been steadily expanding its AI-first strategy with Cortex AI and Property Intelligence, and the company plans to integrate Genesis innovations across its digital twin platform with early releases expected before the end of 2023. Embracing innovation and customer value through Genesis, Matterport will continue to develop powerful AI to digitize the built world, while helping customers realize new property value for the more than 30 billion square feet of physical space the company has digitized worldwide and counting.

Visit our blog post to learn more about Genesis.

About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking digital twin platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at Matterport.com and visit our Discover page to browse a collection of digital twins captured by our customers

©2023 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners. Patents pending on Genesis and use cases.

Forward Looking Statements

This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products and services offered by Matterport, Inc. (“Matterport”), artificial intelligence capabilities, potential growth opportunities, and Matterport’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “expected,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including the expected benefits of Matterport’s partnerships and Matterport’s ability to implement new artificial intelligence initiatives, business plans, forecasts, and other expectations in the industry in which Matterport competes, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the U.S. Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.

Matterport Media Contact:
Charlie Stager
press@matterport.com

Matterport Investor Contact:
Mike Knapp
ir@matterport.com

GlobeNewswire Distribution ID 8857984

CALGARY, Alberta and VIENNA, Austria , June 14, 2023 (GLOBE NEWSWIRE) — Eavor Technologies Inc. (“Eavor”), the leader in globally scalable geothermal closed-loop technology, has completed the first close of their Series B equity round. OMV AG (“OMV”) leads the round with a €34 million (C$50mm) investment and has entered into a commercial agreement with Eavor to pursue large-scale deployment of Eavor-Loop technology in Europe and beyond.

Follow-on investments from Eavor’s existing partners include bp Ventures, Eversource Energy and Vickers Venture Partners. Concurrently with the raise, Chubu Electric Power has converted its debenture.

The commercial agreement establishes OMV as a key partner with preferred licensing terms, access to services and development support. As a key partner, OMV will be focused initially on the deployment of Eavor-Loop in Austria, Romania, and Germany.

Berislav Gaso, OMV Executive Vice President for Energy, stated: “We are excited about the partnership with Eavor and look forward to apply this next-generation geothermal energy technology to reach our green energy goals.”

John Redfern, President, CEO and Co-Founder at Eavor, stated: “We have been working with OMV for over a year on this partnership and continue to be impressed by their technical expertise and dedication to the energy transition. We look forward to building on this foundation with OMV, to deliver true energy independence, security and autonomy to Europe.”

Eavor, with its project partners, will begin drilling operations at the Eavor-Europe site near Geretsried, Bavaria, Germany this summer. The project is the world’s first commercial implementation of an Eavor-Loop, a showpiece of the zero-emissions heat and power production capabilities of next-generation geothermal.

Robert Winsloe EVP / Origination at Eavor, stated: “The European heat market is a primary focus for Eavor, starting with our projects in Geretsried and Hannover. The Agreement with OMV will supercharge the commercialization of Eavor-Loop and the full decarbonization of district heating and cooling in Europe and beyond.”

National Bank Financial is acting as exclusive financial advisor to Eavor on its Series B financing, while DS Lawyers Canada LLP is acting as exclusive legal advisor.

About OMV Aktiengesellschaft

With Group sales revenues of EUR 62 bn and a workforce of around 22,300 employees in 2022, OMV is amongst Austria’s largest listed industrial companies.

In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Fuels & Feedstock business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the United Arab Emirates. OMV operates around 1,800 filling stations in nine European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2022 amounted to 392 kboe/d. Its activities also include the Low Carbon Business as well as the entire natural gas business.

OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.

OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.

About Eavor Technologies Inc.

Eavor (pronounced “Ever”) is a technology-based energy company led by a team dedicated to creating a clean, reliable, and affordable energy future on a global scale. Eavor’s solution (Eavor-Loop) represents the world’s first truly scalable form of clean, dispatchable, baseload capable, and flexible heat and power. Eavor achieves this by mitigating or eliminating many of the issues that have traditionally hindered geothermal energy. Eavor instead circulates a benign working fluid that is completely isolated from the environment in a closed-loop, through a massive subsurface radiator. This radiator simply collects heat from the natural geothermal gradient of the Earth via conduction. Eavor has been supported by equity investments made by several leading global energy producers, investors, developers, and venture capital funds including Vickers Venture Partners, bp Ventures, Chubu Electric Power, BDC Capital, Temasek, Chevron Technology Ventures, BHP Ventures, Helmerich & Payne, Precision Drilling and now, OMV. info@eavor.com – Eavor.com

GlobeNewswire Distribution ID  8857915

Global innovators to meet, collaborate, and discuss the future of IP

BOSTON, June 14, 2023 (GLOBE NEWSWIRE) — Anaqua, the leading innovation and intellectual property (IP) management technology provider, today announces the keynote speakers and session line-up for its 2023 Anaqua Experience Conference (AEC). The AEC brings together IP and business leaders from across the globe to discuss key industry issues and the future of IP. Attendees will hear from industry experts as they share trends, insights, and best practices; engage in networking events to promote industry collaboration; and participate in training sessions to help further enhance their IP management.

“We are honored to serve the most innovative companies and law firms across the globe with our leading end-to-end, corporate, and law firm-focused IP management solutions,” said Bob Romeo, CEO of Anaqua. “Our client conference provides an opportunity for the IP community to engage with each other and with the Anaqua team as we partner to succeed in the constantly changing IP environment.”

The conference’s keynote speakers include:

• Dr. Markus Braun, Head of IP Operations, BASF
• Tracey Armstrong, President and CEO, Copyright Clearance Center
• William R. LaFontaine, General Manager, IP, Vice President, Research Business Development, IBM Corporation

“One of the best things about The Anaqua Experience Conference is how interactive it is,” said Aileen Buchanan, Vice President, Client Success of Anaqua. “After years of virtual conferences, we are looking forward to gathering with our client community in one place to facilitate discussions on industry issues and challenges, exchanging views and insights, while strengthening our long-term partnership with clients. This ongoing, invaluable collaboration with our clients is part of what we call ‘The Anaqua Experience.’”

Anaqua will also host several sessions by leading international IP practitioners, including:

• Christof Wolpert, VP Global Legal Innovation, adidas

• Michelle Sympson, Manager, Global IP Administration, ASM
• Halim Shehadeh, CEO, CWB Legal
• Maxwell Adams, Patent Systems Operations Manager, Dolby
• Benjamin Brown, Chief IP Counsel, Onto Innovation
• Linda Kasulke, IP Paralegal, Rockwell Automation
• Satoshi Ikeda, Senior Manager, IP, Sony
• Michelle L. Saitz, IP Practice Support Services Supervisor, Thompson Coburn
• Allyson L. Campbell, IP System Administrator, Thompson Coburn
• Matthew Luby, Group Director, IP Analytics, TTI
• And more.

The 2023 AEC will be held at the MGM National Harbor Hotel in Oxon Hill, Maryland, USA from June 26-29. Registration remains open until June 26. To register for the event and learn more about the session line-up, visit anaqua.com/AEC.

About Anaqua

Anaqua, Inc. is a premier provider of integrated intellectual property (IP) management technology solutions and services for corporations and law firms. Its IP management software solutions, AQX and PATTSY WAVE, both offer best practice workflows with big data analytics and tech-enabled services to create an intelligent environment designed to inform IP strategy, enable IP decision-making, and streamline IP operations, tailored to each segment’s need. Today, nearly half of the top 100 U.S. patent filers and global brands, as well as a growing number of law firms worldwide use Anaqua’s solutions. Over one million IP executives, attorneys, paralegals, administrators, and innovators use the platform for their IP management needs. The company’s global operations are headquartered in Boston, with offices across the U.S., Europe, and Asia. For additional information, please visit anaqua.com, or on LinkedIn.

Company Contact:
Amanda Glagolev
Director, Communications
Anaqua
617-375-5808
aglagolev@anaqua.com

GlobeNewswire Distribution ID 8857830

ATLANTA and LONDON, June 14, 2023 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released findings from its 2023 Home Delivery Sustainability Report: Consumers Expect More! survey, which examined consumer sentiment of retailers’ sustainability practices around their delivery operations. The survey found that only 43% of consumers felt retailers were doing a good job of using sustainable delivery practices. Over 60%, however, indicated they were quite/very interested in environmentally friendly delivery methods. Additionally, 59% said they are willing to act if they’re not satisfied with retailers’ sustainable delivery efforts.

The study of 8,000 consumers across nine European countries, Canada and the United States provides retailers and logistics organizations with critical insights into the importance of sustainability in consumer purchase and delivery decisions and how perspectives vary by age and geography.

“Compared to our 2022 study, consumers are much more interested in the environmental delivery practices of retailers. They’re influenced by these factors when making purchasing decisions and willing to take eco-friendly home delivery options, which are often also lower cost delivery methods for retailers,” said Chris Jones, EVP, Industry at Descartes. “Retailers need to heed these important trends as they provide more ways to differentiate, grow revenue, create greater customer loyalty and reduce delivery costs.”

The study analyzes consumer sentiment around the sustainability of retailers’ delivery operations, how this is impacting purchasing decisions, how consumers evaluate retailer efforts in sustainable delivery, which goods are most impacted by sustainable delivery performance and how consumers want to receive goods. In addition, it delves into the changes in purchasing and delivery decisions that consumers are willing to make to help the environment. Lastly, it provides insight into how the importance of sustainable delivery varies by geodemographic factors, the influence of geodemographics on buyer behavior, the delivery decisions consumers are making, and consumer expectations of retailers’ sustainable delivery efforts for the future. To learn more, read the 2023 Home Delivery Sustainability Report: Consumers Expect More! report.

Learn more about Descartes’ environmental practices at Environmental Impact | Descartes.

About Descartes

Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

Global Media Contact
Cara Strohack                                                    
Tel: +1(800) 419-8495 ext. 202025                        
cstrohack@descartes.com

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes’ most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

GlobeNewswire Distribution ID 8857905

Comprehensive survey highlights the impact of excessive screen time on well-being.

Online Gambling and Health

Infographic showing Key Findings from Online Gambling and Health Survey

LONDON, June 14, 2023 (GLOBE NEWSWIRE) — Leading iGaming brand, Minimum Deposit Casinos (MDC), has carried out a month-long comprehensive study analysing health concerns linked to online gambling and excessive screen/device use. The objective of the study is in line with raising awareness and helping strengthen interventions to promote and encourage responsible online gambling practices. One of main findings was that 41% of online gamblers surveyed experienced anxiety or depression.

The focus of the May 2023 research – emanating from too much screen use – related to health conditions such as stress, anxiety, headaches, depression, neck and back pain, sleep disorders and insomnia. Hundreds of online gamblers were surveyed across four countries – Canada, New Zealand, United Kingdom, and the United States. Minimum Deposit Casinos found life-changing insights into the connection between online gambling habits and these health concerns. This will be used to create more sustainable approaches for improving and helping online users limit screen time for their overall well-being in future.

Key Findings

Key findings from the study revealed significant trends across all four countries. It was observed that a substantial proportion of gamblers experienced stress or anxiety, with mobile devices being the preferred platform for online gambling. It also outlined the prevalence of headaches and migraines among gamblers, which indicates a link between the frequency of online gambling and the occurrence of these conditions.

The study further revealed the widespread presence of depression, sleep disorders, and insomnia among gamblers in all four nations. These health concerns were more prevalent among those who spent a large portion of their screen time on gambling activities.

The complete report outlining the methodology and results can be found here: https://www.minimumdepositcasinos.org/2023/05/29/observing-the-online-gambling-habits-and-health-concerns-in-the-uk-ca-nz-us/

About Minimum Deposit Casinos

Minimumdepositcasinos.org brings you accurate and up-to-date information about the best online casinos worldwide. Created by a team of online casino experts, Minimum Deposit Casinos aims to provide valuable insights and promote responsible online practices for users worldwide.

An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b75228ca-ff61-4588-b8a1-78379463ad89

For media inquiries, please contact:

Email: info@minimumdepositcasinos.org

Twitter: @MinDeposCasino

GlobeNewswire Distribution ID 1000825186

June 14, 2023

Economic analysis of cost of Vall d’Hebron University Hospital Stroke Unit shows direct-to-angio stroke pathway can save more than USD 3,000 per patient

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the results of a health economic analysis published in the Journal of NeuroInterventional Surgery (JNIS) that show an innovative approach to the stroke care pathway reduced costs by an average of EUR 2,848 (~USD 3,120) per patient. The retrospective analysis looked at data from the controlled single-center ANGIOCAT clinical trial conducted at the Vall d’Hebron University Hospital Stroke Unit (Barcelona, Spain) [1]. Earlier results from this study demonstrated that a ‘Direct-to-Angio Suite’ (DTAS) pathway improves clinical outcomes for patients who have suffered a stroke.

“The ANGIOCAT clinical study has already shown that bringing stroke patients directly to the angio suite improves patient outcomes. The economic analysis of the data now tells us we can also significantly reduce costs,” said Dr. Manuel Requena, Stroke and Interventional Neurologist, University Hospital Vall d’Hebron. “This indicates that the initial up-front investment of a direct-to-angio suite workflow will result in a fast return on investment for healthcare providers.”

Innovating the stroke pathway
After initial triage in the emergency department, the typical treatment pathway for stroke involves sending the patient to the radiology department for a diagnostic CT or MRI brain scan. This adds time, often worsened by gaps in communication, information, and access to stroke expertise. For stroke centers, a time-saving alternative is to have a dedicated angio-suite permanently on standby, to which stroke patients can be transferred immediately after admission. Using cone-beam CT imaging, such as that built into Philips Image Guided Therapy System – Azurion, clinicians can make a diagnosis and intervene on-the-spot, saving precious time. The health economics analysis indicates that a positive return on investing in a dedicated angio suite can be achieved in only a few years.

Philips cone-beam CT
Philips’ DTAS workflow is enabled by an advanced cone-beam computed tomography (CBCT) brain scan performed directly in the angio suite to diagnose patients. CBCT utilizes a cone-shaped beam of X-rays and a flat-panel detector mounted on a C-arm gantry similar to that routinely used in an angio suite, capturing multiple images from different angles to reconstruct 3D images of the brain. Thanks to technology breakthroughs, Philips has increased the diagnostic confidence of CBCT from 32% to 93% in the space of a few years [3][4][5]. This technology can rule out intracranial hemorrhages and identify large vessel occlusions (LVOs), which account for roughly a quarter to a half of acute ischemic strokes [2]. Patients diagnosed with an LVO can then be immediately operated on using a minimally invasive image-guided procedure known as a mechanical thrombectomy to open up the blocked artery causing their stroke.

Lower cost, better patient outcomes
Multiple single-center studies have shown the positive impact of DTAS on clinical outcomes with the result that many dedicated stroke centers have already adopted it. A large multi-center randomized clinical trial called WE-TRUST (Workflow Optimization to Reduce Time to Endovascular Reperfusion for Ultra-fast Stroke Treatment) [8] is currently running to confirm the patient benefit of DTAS.

Philips’ stroke portfolio includes solutions for stroke monitoring and communication in ambulances, tele-stroke patient assessment, diagnostic imaging and analysis, image-guided therapy, neurological monitoring and assessment, and more. Its image-guided stroke therapy solutions are based on the Philips Image Guided Therapy System – Azurion.

[1] Requena M, Vanden Bavière H, Verma S, et al. Cost-utility of direct transfer to angiography suite (DTAS) bypassing conventional imaging for patients with acute ischemic stroke in Spain: results from the ANGIOCAT trial.
Journal of NeuroInterventional Surgery Published Online First: 27 April 2023. doi: 10.1136/jnis-2023-020275
[2] World Stroke Organization (WSO): Global Stroke Fact Sheet 2022 (https://www.world-stroke.org/assets/downloads/WSO_Global_Stroke_Fact_Sheet.pdf)
[3] Nicholson P, Cancelliere NM, Bracken J, et al. Novel flat-panel cone-beam CT compared to multi-detector CT for assessment of acute ischemic stroke: A prospective study. Eur J Radiol. 2021 May;138:109645. doi: 10.1016/j.ejrad.2021.109645. Epub 2021 Mar 10. PMID: 33725654.
[4] Cancelliere NM, Hummel E, van Nijnatten F, et al. The butterfly effect: improving brain cone-beam CT image artifacts for stroke assessment using a novel dual-axis trajectory. J Neurointerv Surg. 2023 Mar;15(3):283-287. doi: 10.1136/neurintsurg-2021-018553. Epub 2022 Apr 27. PMID: 35478176; PMCID: PMC9985729.
[5] Cancelliere NM, van Nijnatten F, Hummel E, et al. Motion artifact correction for cone beam CT stroke imaging: a prospective series. J Neurointerv Surg. 2022 Dec 23:neurintsurg-2021-018201. doi: 10.1136/jnis-2021-018201. Epub ahead of print. PMID: 36564201.
[6] WE-TRUST. Workflow optimization to reduce time to endovascular reperfusion for ultra-fast stroke treatment, ClinicalTrials. gov, U.S. National Library of Medicine, identifier: NCT04701684. n.d. Available: https://clinicaltrials.gov/ct2/show/ NCT04701684. The WE-TRUST study is sponsored by Philips.

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel: +31 6 10 55 8116
Email: joost.maltha@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 74,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Attachment

• Philips Neuro suite

GlobeNewswire Distribution ID 1000825147

COPENHAGEN, Denmark, June 14, 2023 (GLOBE NEWSWIRE) — CWP Global and Copenhagen Infrastructure Partners (CIP) are pleased to announce the recent completion of CIP’s strategic investment in CWP’s development portfolio of ultra-large-scale green hydrogen hubs, including projects across Africa, Australia and the Americas.

Under the deal announced today, CIP, through its Energy Transition Fund I, has acquired a 26.67% stake in a development platform within CWP’s green hydrogen business, thus seizing the opportunity to invest in the latter’s pipeline of green hydrogen hubs under development globally.

The investment brings together CWP’s leading green hydrogen team, built off the back of a two-decade track record in developing and operating utility-scale renewables projects, and CIP’s expertise in financing and developing large-scale green transition infrastructure. CIP’s backing represents a significant vote of confidence in the emerging green hydrogen sector from one of the world’s largest renewable energy infrastructure investors.

There is growing market sentiment that significant and scalable demand for green hydrogen is set to take hold in the second half of this decade. Peer-reviewed scenarios for achieving net zero GHG emissions by 2050 or earlier – including those from the IPCC, IEA, IRENA and the Energy Transitions Commission, among others – make clear that alongside widespread electrification of global energy demand, the production and use of green hydrogen and derivatives is a critical tool to decarbonize a variety of energy-intensive but hard-to-abate sectors, such as mining, steel and fertilizer production, as well as long-range transport, including maritime shipping.

According to the IEA-led Breakthrough Agenda Report (2022), investment in production of renewable and low-carbon hydrogen must scale up significantly to increase supply from less than 1 Mt in 2020 to 140-155 Mt by 2030 to align with emissions trajectories in pursuit of the Paris Agreement’s temperature goals. Against this backdrop, CIP’s investment in CWP’s portfolio of green hydrogen hubs is a major step in the right direction.

Alex Hewitt, CEO of CWP Global, said:
“We’re thrilled to welcome CIP to the CWP family, a new partnership that could not have come at a more important time. The race to net zero is on, and green hydrogen at scale will be a critical pillar for global decarbonisation, perhaps meeting one-fifth of global energy demand by 2050.”

“This CWP-CIP partnership is built around a remarkable alignment of values and a shared vision of the scale and urgency of the energy transition. We look forward to working with CIP to build value for the planet and future generations, and new opportunities for local communities and economies, including in the developing world.”

Felix Pahl, Partner at Copenhagen Infrastructure Partners, said:
“Achieving decarbonisation targets requires green hydrogen and green ammonia to be produced at scale. Through this investment, CIP’s Energy Transition Fund now further expands its participation in the development of gigawatt scale PtX developments. CWP has a proven track record in delivering onshore renewables and has already built a strong pipeline of PtX development projects.

With a strong management team and established regional footprints in Australia, Africa and Latin America, we expect CWP to become a global leader in developing ultra gigawatt-scale PtX projects and contribute significantly to decarbonisation of hard-to-abate sectors.”

BACKGROUND

CWP Global
Building on its track record of successfully delivering leading portfolios of utility-scale wind and solar projects in both South-East Europe and Australia, CWP has broadened its vision over the last five years to pursue development of ultra-large-scale green hydrogen hubs in prime locations around the globe, featuring constant and abundant renewable energy resources alongside opportunities to deploy cheap green power and produce green fuels efficiently, such as green ammonia.

As it currently stands, CWP’s green hydrogen hub portfolio has a planned combined renewable power generation capacity of nearly 220GW, which is roughly 10 times the generation capacity of the Three Gorges Dam in China, currently the world’s biggest power project. CWP’s portfolio includes the Australian Renewable Energy Hub (AREH), co-launched with InterContinental Energy in 2017. In 2022, AREH came under the operatorship of bp, with a vision to supply first green power to iron ore miners in the Pilbara region of North-West Australia by 2027.

If fully realized, CWP’s current portfolio of green hydrogen hubs is at a scale that could make a tangible contribution towards meeting the goals of the Paris Agreement, including achieving net zero greenhouse gas emissions by 2050 or sooner. According to the 2022 Breakthrough Agenda Report, co-authored by the IEA, IRENA and the UN High-Level Champions, green hydrogen could satisfy up to 20% of global energy demand by mid-Century, with some projecting a market value of about $850 billion by 2050.

Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages ten funds and has to date raised approximately EUR 19 billion for investments in energy and associated infrastructure from more than 140 international institutional investors. CIP has approximately 400 employees and 11 offices around the world. For more information, visit www.cip.com.

Media Contacts

CWP Global
Mia Kovačić
+33 7 85 76 92 48
mia.kovacic@cwp.global

Copenhagen Infrastructure Partners
Simon Augustesen
+45 30526721
siau@cip.com

GlobeNewswire Distribution ID 1000825103