ASEAN – Page 10 – Pakistan News Express

November 9, 2023

Pacific Green Enters Agreement to Secure Strategic Site to Develop 0.5GW / 1.0GWh Battery Energy Park in South Australia

Dover, DE, Nov. 09, 2023 (GLOBE NEWSWIRE) — / Pacific Green Technologies, Inc. (“Pacific Green”), (OTCQB: PGTK) announces that Pacific Green Technologies (Australia) Pty Ltd., a wholly owned subsidiary of Pacific Green, has entered into an exclusivity agreement to secure a strategically located land site in Limestone Coast, South Australia to develop a 0.5 GW / 1.0 GWh battery energy park (the “Project”).

The Project will commence construction in 2024, with the energy park anticipated to be operational in 2026. When completed it will be the largest battery park in South Australia, connecting directly into an existing 275 kVA substation.

The Project will deliver a major increase in energy storage capacity in South Australia, reducing wholesale energy costs for the state, while also strengthening the region’s energy stability for communities and supporting South Australia’s net-zero transition.

Joel Alexander, Pacific Green’s Managing Director, Australia, commented: “We are excited to grow our portfolio into South Australia, which already has the highest adoption of renewable generation of all states in Australia. Our Limestone Coast Battery Energy Park can act as a load during the day, increasing the viability of even more solar and wind generation, whilst shifting energy to the times it is most valuable in the evening peak. This momentum allows us to accelerate progress towards South Australia achieving 100% net renewables by 2030.

Scott Poulter, Pacific Green’s CEO, added: “Coupled with our energy parks in Portland, Victoria, this agreement cements Pacific Green’s multi-gigawatt platform that will be deployed across Australia in the coming months and years.”

About Pacific Green Technologies, Inc.:

Pacific Green is focused on addressing the world’s need for cleaner and more sustainable energy. It offers grid-scale battery energy storage systems, renewable and environmental technologies.

For more information, visit Pacific Green’s website:
www.pacificgreen.com

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continued development of the Project, any potential business developments and future interest in Pacific Green’s battery, solar and environmental technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the continuation of the development of the Project, general economic and political conditions. These forward-looking statements are made as of the date of this news release, and Pacific Green assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Pacific Green believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in Pacific Green’s annual report on Form 10-K for the most recent fiscal year, Pacific Green’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Scott Poulter, Chairman & CEO
Pacific Green Technologies, Inc.
T: +1 (302) 601-4659

Joel Alexander, Managing Director
Pacific Green Technologies (Australia) Pty Ltd.
T: +61 497 335 833

GlobeNewswire Distribution ID 8976395

November 9, 2023

Nyxoah Reports Third Quarter 2023 Financial and Operating Results

Nyxoah Reports Third Quarter 2023 Financial and Operating Results
Partners with ResMed Germany to increase OSA awareness and therapy penetration

Mont-Saint-Guibert, Belgium – November 8, 2023 10:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today reported financial and operating results for the third quarter of 2023.

Recent Financial and Operating Highlights

Filed the third module in the modular PMA submission.
Accelerated U.S. pre-commercialization efforts, focused on market access around CPT coding.
Initiated a commercial partnership with strategic investor ResMed in Germany. This collaboration introduces a novel continuum of care into the German OSA market.
Reported third-quarter sales of €1.0 million and ended the quarter with 46 active German accounts.
Ended the quarter with a cash position of €72.5 million, providing an anticipated cash runway into late 2024.

“Nyxoah is entering one of the most exciting times in the company’s history. We will report data from our DREAM U.S. pivotal trial early next year, shortly thereafter complete our modular PMA submission, and expect FDA approval late 2024,” commented Olivier Taelman, Chief Executive Officer. “Hypoglossal nerve stimulation (HGNS) remains highly underpenetrated and guiding patients through their OSA journey is key to unlocking the market’s potential. Our agreement with ResMed Germany, which takes ResMed from a valued investor to commercial partner, creates a continuum of care that directs patients towards the appropriate treatment, resulting in greater therapy penetration.”

CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS (unaudited)
(in thousands)

	For the three months ended September 30			For the nine months ended September 30
		2023	2022	2023	2022
Revenue		€ 976	€ 182	€ 2,524		€ 1,777
Cost of goods sold		( 336)	( 63)	( 930)		( 685)
Gross profit		€ 640	€ 119	€ 1,594		€ 1,092
Research and Development Expense		(6,568)	(4,221)	(19,330)		(11,286)
Selling, General and Administrative Expense		(5,058)	(4,763)	(16,794)		(13,492)
Other income/(expense)		−	87	265		237
Operating loss for the period		€ (10,986)	€ (8,778)	€ (34,265)		€ (23,449)
Financial income		2,178	5,127	3,592		11,372
Financial expense		(1,033)	(2,524)	(2 765)		(5,473)
Loss for the period before taxes		€ (9,841)	€ (6,175)	€ (33,438)		€ (17,550)
Income taxes		2,229	(65)	1,119		( 379)
Loss for the period		€ (7,612)	€ (6,240)	€ (32,319)		€ (17,929)

Loss attributable to equity holders		€ (7,612)	€ (6,240)	€ (32,319)		€ (17,929)
Other comprehensive loss
Items that may be subsequently reclassified to profit or loss (net of tax)
Currency translation differences		( 10)	100	( 88)		( 14)
Total comprehensive loss for the year, net of tax		€ (7,622)	€ (6,140)	€ (32,407)		€ (17,943)
Loss attributable to equity holders		€ (7,622)	€ (6,140)	€ (32,407)		€ (17,943)

Basic Loss Per Share (in EUR)		€ (0.266)	€ (0.242)	€ (1.166)		€ (0.695)
Diluted Loss Per Share (in EUR)		€ (0.266)	€ (0.242)	€ (1.166)		€ (0.695)


CONSOLIDATED STATEMENT OF FINANCIAL POSITION (unaudited) (in thousands)

	As at
	September 30 2023		December 31 2022
ASSETS
Non-current assets
Property, plant and equipment	4,328	2,460
Intangible assets	45,720	39,972
Right of use assets	3,602	3,159
Deferred tax asset	47	47
Other long-term receivables	668	173
	€ 54,365	€ 45,811
Current assets
Inventory	1,709	882
Trade receivables	1,918	1,463
Other receivables	2,437	1,775
Other current assets	1,683	1,284
Financial assets	59,239	76,968
Cash and cash equivalents	13,250	17,888
	€ 80,236	€ 100,260
Total assets	€ 134,601	€ 146,071

EQUITY AND LIABILITIES
Capital and reserves
Capital	4,926	4,440
Share premium	246,130	228,275
Share based payment reserve	7,468	5,645
Other comprehensive income	88	176
Retained loss	(150,070)	(118,212)
Total equity attributable to shareholders	€ 108,542	€ 120,324

LIABILITIES
Non-current liabilities
Financial debt	8,407	8,189
Lease liability	2,990	2,586
Pension liability	75	−
Provisions	125	59
Deferred tax liability	6	−
	€ 11,603	€ 10,834
Current liabilities
Financial debt	769	388
Lease liability	788	719
Trade payables	4,480	4,985
Current tax liability	2,367	3,654
Other payables	6,052	5,167
	€ 14,456	€ 14,913
Total liabilities	€ 26,059	€ 25,747
Total equity and liabilities	€ 134,601	€ 146,071

Revenue

Revenue was €1.0 million for the third quarter ending September 30, 2023, compared to €182,000 for third quarter ending September 30, 2022.

Cost of Goods Sold

Cost of goods sold was €336,000 for the three months ending September 30, 2023, representing a gross profit of €640,000, or gross margin of 66.0%. This compares to total cost of goods sold of €63,000 in the third quarter ending September 30, 2022, for a gross profit of €119,000, or gross margin of 65.4%.

Research and Development Expenses

Research and development expenses were €6.6 million for the three months ending September 30, 2023, versus €4.2 million for the prior year period, driven by an acceleration in clinical activities, notably the start of the ACCCESS study.

Selling, General and Administrative Expenses

Selling, general and administrative expenses rose to €5.1 million for the third quarter of 2023, up from €4.8 million in the third quarter of 2022. This was due primarily to increased commercial efforts in Germany and other European markets, as well as investments in Nyxoah’s corporate infrastructure. The Company expects to continue adding headcount across the organization ahead of the U.S. commercial launch.

Operating Loss

Total operating loss for the third quarter 2023 was €11.0 million versus €8.8 million in the third quarter of 2022. This was driven by the acceleration in the Company’s R&D spending, as well as ongoing commercial and clinical activities.

Cash Position
As of September 30, 2023, cash and financial assets totaled €72.5 million, compared to €94.9 million on December 31, 2022. Total cash burn was approximately €4.0 million per month during the third quarter of 2023.

Third Quarter 2023 Report
Nyxoah’s financial report for the third quarter 2023, including details of the consolidated results, are available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

Conference call and webcast presentation
Nyxoah will conduct a conference call open to the public today at 10:30pm CET / 4:30pm ET. A webcast of the call will be accessible via the Investor Relations page of the Nyxoah website or through this link: Nyxoah’s Q3 2023 earnings call webcast. For those not planning to ask a question of management, the Company recommends listening via the webcast.

If you plan to ask a question, please use the following link: Nyxoah’s Q3 2023 earnings call. After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, the Company suggests registering a minimum of 10 minutes before the start of the call.

The archived webcast will be available for replay shortly after the close of the call.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; and the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission (“SEC”) on March 22, 2023, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
[email protected]
+1 310 310 1313

Attachment

ENGLISH_Q3 2023 Earnings PR_FINAL

GlobeNewswire Distribution ID 1000898348

November 8, 2023

JETEX & SHELL AVIATION SIGN AGREEMENT FOR SAF SUPPLY TO PRIVATE AVIATION

Jetex and Shell Aviation bring sustainable aviation fuel (SAF) to the flagship private terminal in Dubai.

Dubai, United Arab Emirates, Nov. 08, 2023 (GLOBE NEWSWIRE) — Jetex, a global leader in executive aviation, is the first to offer SAF to customers in the United Arab Emirates. Building on the success of supplying SAF at selected locations in Europe, Jetex will now offer aircraft operators and private owners the possibility of significantly reducing emissions whenever they operate flights from its flagship private terminal in Dubai.

“Bringing SAF to the United Arab Emirates is a milestone achievement, and today I am pleased that we finally can offer this type of aircraft fuel to our customers in Dubai in partnership with Shell Aviation. It is even more important in light of 2023 being announced as the Year of Sustainability in the UAE as it cements our ambition to reduce carbon emissions”, said Adel Mardini, Founder & CEO of Jetex.

As a safe and fully certified drop-in fuel compatible with existing aircraft fleet and airport infrastructure, SAF can be blended with conventional jet fuel at a ratio of up to 50%, creating an aviation fuel that is significantly lower in lifecycle carbon emissions. In its neat form, SAF can reduce lifecycle emissions by up to 80% compared to conventional jet fuel.

Doris Tan, General Manager Asia and Middle East, Shell Aviation, said: “To reduce emissions from flying, all parts of the aviation value chain need to play their part. This is particularly crucial for private business customers as they can create a concentrated, high-impact demand for SAF. Additionally, expanding the availability of SAF to new locations is equally important, which is why it’s been highly rewarding to work with Jetex to enhance our SAF capabilities in the Middle East by delivering SAF at DWC for the first time.”

Jetex’s environment strategy focuses on reducing carbon emissions, recycling and adapting the latest green technologies across its global network. The company’s efforts are aligned with IATA’s commitment to fly net zero by 2050 and achieving this requires a combination of maximum elimination of emissions at the source, offsetting and carbon capture technologies.

It is vital for the future of aviation to continue to address climate change and Jetex remains focused on playing its part to reduce the impact on the planet.

About Jetex:

An award-winning global leader in executive aviation, Jetex is recognized for delivering flexible, best-in-class trip support solutions to customers worldwide. Jetex provides exceptional private terminals (FBOs), aircraft fueling, ground handling and global trip planning. The company caters to both owners and operators of business jets for corporate, commercial and personal air travel. To find out more about Jetex, visit jetex.com and follow us on Instagram, Twitter, Facebook and LinkedIn.

Attachment

JETEX & SHELL AVIATION SIGN AGREEMENT

Oleg Kafarov - Vice President of Brand & Corporate Communications
Jetex
+971 4 212 4900
[email protected]

GlobeNewswire Distribution ID 8975124

November 7, 2023

Matmerize secures DOD award to develop low-flammability polymer composite materials using advanced AI methods

ATLANTA, Nov. 07, 2023 (GLOBE NEWSWIRE) — Matmerize, Inc., an industry leader in Polymer & Formulations Informatics proudly announces its selection by the US Department of Defense (DOD) for a Small Business Innovation Research (SBIR) contract aimed at advancing AI methodologies for accelerating the design of novel low-flammability polymer composite materials. Matmerize is excited about the transformative potential of this project as it will not only enhance fire safety for Navy ships and submarines, but will also find applications in a wide range of industries, including construction, aerospace, automotive and consumer products. This award comes at the heels of another SBIR recently awarded to Matmerize by the National Science Foundation (NSF) to develop physics-informed and physics-enforced machine learning architectures to advance materials development.

The flammability of polymer composites is quantified by a set of quantitative parameters, typically measured using highly standardized instruments/tests defined by the American Society for Testing and Materials (ASTM) and other agencies. Desirable polymeric materials that meet the specific values of ASTM and non-ASTM standardized tests require an optimal combination of base polymers, functional additives, flame retardants, and processing conditions. Matmerize will collaborate with DOD to develop a Polymer Informatics capability using suitable curated data and advanced AI/ML techniques, aimed at the accelerated design of low-flammability polymer matrix composites that meet other critical mechanical and thermal performance targets needed by the Navy.

Key highlights of the contract include:

(1) creation of a composite materials database with flammability and other relevant properties such as maximum heat release rate, time to ignition, and smoke density,
(2) development of AI models trained on the database to predict the relevant properties for new composite formulations, and
(3) recommend a pool of promising polymer composites, i.e., the combinations of base polymers, functional additives, flame retardants, and processing conditions, for experimentally synthesis and testing.

A Media Snippet accompanying this announcement is available by clicking on this link:

Huan Tran, Director of Research Innovation for Matmerize stated, “This collaboration signifies a major achievement in the pursuit of safer, lower-flammability polymer composites. We take great pride in spearheading the development of cutting-edge AI-driven solutions for low-flammability composite materials that not only meet rigorous ASTM testing standards but also address the vital safety requirements mandated for our Navy ships.“

At the heart of Matmerize’s innovation lies PolymRize, their flagship product – a cloud-based Polymer Informatics software platform meticulously crafted to expedite the advancement of polymers, composites, and formulations. The DOD SBIR aligns perfectly with Matmerize’s core mission to unlock the immense potential of AI in advanced materials engineering to address critical challenges and improve functionality, fire safety and sustainability. Both the DOD and the NSF SBIRs come at an opportune time and will jointly propel and advance the AI-based PolymRize technology in a synergistic manner.

Chiho Kim, CTO at Matmerize expressed his enthusiasm by stating “The two concurrent SBIR awards granted by DOD and NSF, represent a resounding endorsement of Matmerize’s pioneering Polymer Informatics platform PolymRize. These contracts will provide us the resources and support needed to further advance our AI based PolymRize platform.”

For more information on the innovative PolymRize platform please visit: https://www.matmerize.com/polymrize

About Matmerize:
Matmerize, Inc. is a recent spin-out from the Georgia Institute of Technology and was founded by Dr. Rampi Ramprasad and Dr. Chiho Kim. Matmerize is a leading innovator at the intersection of advanced materials engineering and artificial intelligence. With a mission to revolutionize fire safety and sustainability through AI technology, we are committed to pushing the boundaries of what is possible. Our dedicated team of experts strives to create solutions that positively impact new material development while minimizing the environmental footprint.

For further information, inquiries, or media contact, please reach out to:

Matmerize, Inc.
https://www.matmerize.com
E: [email protected]
Y: Watch Matmerize Videos on YouTube
L: Follow our LinkedIn Page

GlobeNewswire Distribution ID 8974273

November 7, 2023

Pacific Green Enters Into Transaction to Sell Its 249MW / 373.5MWh Sheaf Energy Park Battery Development for an Enterprise Value of £210 Million (US$258 Million)

Dover, DE, Nov. 07, 2023 (GLOBE NEWSWIRE) — Pacific Green Technologies, Inc. (“Pacific Green”, OTCQB: PGTK) announces that it has entered into a transaction to sell 100% of the shares in Pacific Green Battery Energy Parks 2 Limited (“PGBEP2”) to Sosteneo Fund 1 HoldCo S.à.r.l. (“Sosteneo HoldCo”) for £210 million (US$258 million) (the “Transaction”).

PGBEP2 is the holding company for 100% subsidiary, Sheaf Energy Limited, Pacific Green’s 249 MW / 373.5 MWh battery energy storage system in Kent, England (“Sheaf Energy Park”), which will begin commercial operations in July 2025.

Sosteneo HoldCo is an investment vehicle for the Sosteneo Energy Transition Fund, managed by Sosteneo SGR S.p.A. (“Sosteneo”), a specialist manager of greenfield infrastructure projects related to the energy transition and part of the Generali ecosystem of asset management firms.

Under the terms of the Transaction, Pacific Green and Sosteneo have granted each other respective options to buy or sell the shares in PGBEP2.

As part of the Transaction, Sosteneo will provide a capital expenditure loan, which together with the senior debt facility, will fully fund the development and construction of Sheaf Energy Park.

About Pacific Green Technologies, Inc.:

Pacific Green is focused on addressing the world’s need for cleaner and more sustainable energy. Pacific Green offers Battery Energy Storage Systems and Concentrated Solar Power to complement its environmental technologies division. Pacific Green has offices in the USA, Canada, United Kingdom, Australia, Saudi Arabia and China.

For more information, visit Pacific Green’s website:
www.pacificgreen.com

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continued development of Sheaf Energy Park, the continuation of the Transaction, any potential business developments and future interest in Pacific Green’s battery, solar and environmental technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the continuation of the development of Sheaf Energy Park, the continuation of the Transaction and general economic and political conditions. These forward-looking statements are made as of the date of this news release, and Pacific Green assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Pacific Green believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in Pacific Green’s annual report on Form 10-K for the most recent fiscal year, Pacific Green’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

GlobeNewswire Distribution ID 8974156

November 7, 2023

Quantexa Launches New Asia Pacific Headquarters in Singapore to Capture Next Wave of Growth

Quantexa’s growing presence in Singapore represents significant investment in delivering AI-enabled Decision Intelligence (DI) solutions to Enterprises and Government Agencies across Asia Pacific
Quantexa has seen double-digit growth and tripled employee base in Asia Pacific region since Series D announcement in 2022
The new location in Singapore reinforces Quantexa’s global network and brings the company closer to its clients and partners in the region

SINGAPORE, Nov. 07, 2023 (GLOBE NEWSWIRE) — Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, today announced the opening of its new Asia Pacific Headquarters based in Tower 1 of Marina Bay Financial Centre (MBFC) in Singapore. The opening is part of a broader regional expansion plan and follows the July 2023 launch of Quantexa’s Japan operations in Tokyo and long-standing presence in Melbourne, Sydney and Malaysia. Further expansion into Hong Kong is expected in 2024.

The organization’s decision to set up its regional headquarters in Singapore was solidified by the country’s commitment to attracting investment, talent, and technology. Establishing Quantexa’s new office locally complements the government’s Smart Nation initiative which outlines its plan to invest up to SGD500 million in Artificial Intelligence (AI) research and development.

Economic forecasts for Southeast Asia predict that it will remain one of the fastest growing regions for years to come. Additionally, over the past 12 months, Quantexa has seen significant demand in the region as local banks and government agencies put an increased emphasis on detecting and preventing financial crime as the number of large-scale money laundering operations in region have risen, costing victims abroad billions of dollars^[1]. Recently, Singapore authorities have taken measures to ensure that financial institutions scrutinise monetary flows with city state managed assets valued at USD4 trillion^[2]^.

Quantexa’s regional headquarters will provide sales, marketing, product management, and professional services capabilities to support customer implementations of its Decision Intelligence Platform in the banking, insurance and telecommunications industries, as well as the public sector. The opening comes after Quantexa recently completed its Series E Funding Round led by GIC Singapore, valuing the company north of $1.8 billion, and announcing a $155 million investment to fuel global artificial intelligence advancements.

Today, Quantexa will host an event to showcase local technology innovation and partnerships at The National Museum of Singapore. Quantexa CEO Vishal Marria will be joined by esteemed industry leaders from GIC, Singapore’s Digital and Intelligence Service (DIS), and Standard Chartered Bank for a panel discussion on “Charting New Pathways for AI Innovation.”

Vishal Marria, CEO and Founder, Quantexa, said: “Quantexa has seen 90% revenue growth and we have nearly tripled our team size in the Asia Pacific region since our Series D announcement. With today’s announcement of our new regional headquarters in Singapore, we continue to accelerate our growth plans and get closer to our clients and partners as we serve the region.”

Choo Yong Cheen, Chief Investment Officer of Private Equity, GIC, said: “We are pleased to see Quantexa establish their new regional headquarters in Singapore as part of their expansion efforts in Asia. As Quantexa continues to benefit from increasing regulatory emphasis on compliance and demand for AI capabilities in data management, we remain confident in the company’s growth potential.”

Jinghua Guo, Chief Digitization Officer, The Digital and Intelligence Service, added: “The Digital and Intelligence Service views AI as a mission-critical capability for the Singapore Armed Forces to safeguard the sovereignty and security of Singapore. We have always worked closely with other technology partners in government to build cutting-edge AI capabilities for defence. But beyond this, we need to harness the rapid innovations from commercial companies as part of our AI portfolio to address our operational needs more effectively. Therefore, we are interested to further explore how cutting-edge solutions from technology leaders like Quantexa can help us succeed in our mission.”

Sean Coppinger, CIO, Standard Chartered Bank, said: “We are thrilled that Quantexa is expanding its presence here. Since 2018, we have worked closely with Quantexa to use AI-enabled data matching capabilities to get a complete view of our customers and their transaction networks. This has helped us raise the bar on how the industry detects fraud and fights financial crime.”

The Singapore Headquarters joins a growing portfolio of Quantexa hubs including London, Dublin, Brussels, Malaga, UAE, New York, Boston, Toronto, Sydney, Melbourne, and Tokyo.

Quantexa’s Asia Pacific team is expanding and is actively recruiting several open positions. To find out more about current vacancies, visit this page.

Note to Editors:

For more information on Quantexa, please visit the website here.

Media Inquiries:

C: Alina Boey, Senior Consultant, Milk & Honey PR

T: +65 96565580

E: [email protected]

About Quantexa

Quantexa is a global data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s Decision Intelligence platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 675 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, Dublin, Brussels, Malaga, UAE, New York, Boston, Toronto, Sydney, Melbourne, and Tokyo.

About GIC

GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Its long- term approach, multi-asset capabilities, and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 2,100 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg or follow on LinkedIn.

^[1] Source: Nikkei Asia article – Singapore stands out as a global tech hub amid U.S.-China tensions

^[2] Source: South China Morning Post article – Singapore readies roll out of anti-money-laundering platform to prevent a 1MDB repeat

GlobeNewswire Distribution ID 1000898055

November 6, 2023

King Faisal Specialist Hospital & Research Centre Successfully Concludes its Role as a Strategic Healthcare Partner at Global Health Exhibition 2023

Post Press Release _01

RIYADH, Saudi Arabia, Nov. 06, 2023 (GLOBE NEWSWIRE) — The Global Health Exhibition, held from October 29 to October 31, 2023, proved an outstanding success for the King Faisal Specialist Hospital & Research Centre (KFSH&RC).

As a Strategic Healthcare Partner, KFSH&RC showcased groundbreaking initiatives aimed at enhancing operational efficiency across crucial medical domains, encompassing the patient care journey, space research, genetic studies, state-of-the-art radiation therapy techniques, organ transplantation advancements (including a world-first fully robotic living donor transplant), capacity management, and the production of radiopharmaceuticals to attain self-sufficiency within the Kingdom.

On the inaugural day, H.E Dr. Majid Al Fayyadh delivered a keynote address focusing on the promising future of Medical Tourism in the Kingdom, underscoring KFSH&RC’s continuous efforts to enhance services for international patients. “KFSH&RC’s transformative journey into a non-profit institution, primarily focusing on serving patients from the Gulf region, began in 2021. In its inaugural year, the hospital admitted 250 patients, and we’ve since witnessed an impressive 40% annual growth. We aim to extend our care to 10,000 patients by 2030.”

Dr. Yaseen Mallawi, Acting Chief Executive Officer – Healthcare Delivery at KFSH&RC, participated in a panel discussion addressing “Challenges to accelerating the transformation of the Saudi Health Sector,” where he emphasized the hospital’s commitment to prioritizing patients’ functional well-being within a value-based healthcare system.

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Muhannad Al Kadi, Chief Corporate Communications & Marketing Officer at KFSH&RC, expressed his delight at the forum’s success, stating, “It was a pleasure to convene with sector leaders, share our vision, and witness the impact of our collaborations. The Global Health Exhibition has been a remarkable platform to explore new opportunities that will further bolster the healthcare landscape in the Kingdom and beyond.”

KFSH&RC’s experts actively engaged in various panel discussions. Dr. Dieter Broering, Executive Director of the Organ Transplant Center of Excellence, shared insights into the potential of cutting-edge surgical technologies to reshape healthcare. Dr. Mohammed Alhamid, Director of the Centre of Healthcare Intelligence, delivered a thought-provoking speech on AI-powered healthcare, shedding light on the future of healthcare intelligence.

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Furthermore, the event marked a significant milestone for KFSH&RC as they celebrated their 100th Car-T Cell procedure, a noteworthy achievement in the Middle East. The hospital also received the prestigious “Best Public Services Call Centre of The Year – Critical” award at the Annual Middle East Call Centre 2023 Awards.

On the sidelines of the Global Health Exhibition, KFSH&RC sealed pivotal MoUs. It partnered with SABIC, a global leader in diversified chemicals, to drive healthcare product development and innovation. King Faisal Specialist Hospital International Holding Company, the investment arm for KFSH&RC, established a strategic partnership with Solutions by STC to enhance the healthcare business landscape and identify mutual growth areas in the sector.

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Additional MoUs were signed with Microsoft Arabia, focusing on sustainability and innovation for enhanced patient care, and with the Hevolution Foundation, emphasizing the advancement of longevity and ageing research. KFSH&RC also partnered with Illumina and signed an MoU with Johnson & Johnson, with the primary vision of revolutionizing surgical training in the region.

Contact information:
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GlobeNewswire Distribution ID 8973282

November 6, 2023

Henley & Partners and Insignia Join Forces to Create Unique Membership Offering for Global Citizens

LONDON, Nov. 06, 2023 (GLOBE NEWSWIRE) — Henley & Partners, the ‘firm of global citizens’ and leader in residence and citizenship advisory, has partnered with the leading ultra-luxury lifestyle management and card services group, Insignia, to create a distinctive and exclusive membership offering. Henley Global Citizens is a bespoke ‘by invitation only’ service designed to meet the specific needs of wealthy transnational families, entrepreneurs, and investors who do business, invest, and live internationally and who identify themselves as citizens of the world.

Besides priority access, personal introductions, and complimentary consultations with trusted international banks, leading private client lawyers and other top industry professionals in all key jurisdictions worldwide, the Henley Global Citizens offering includes a membership card, which is also a Visa payment card for large, unlimited payments and cash withdrawals, and to make international wire transfers in major currencies. More importantly, it provides access to a dynamic global network of wealthy and influential individuals and families, and an annual calendar of high-level closed-door events, including private dinners at the WEF in Davos, around the UNGA in New York, the Grand Prix in Monaco, and other major business, geopolitical, sporting, and cultural events around the world.

Members and their families can also benefit from complimentary consultation on global education planning and introductions to the world’s top schools and universities, as well as strategic health advice, access to preventive medicine and longevity programs, and the scheduling of medical checkups at the most advanced healthcare locations including Switzerland, Germany, Singapore, the UAE, the UK, and the USA.

Dr. Christian H. Kaelin, Group Chairman of Henley & Partners, says bringing together the high-profile clients of both businesses and combining their expertise to create a unique and exceptional international advisory and service offering is a logical extension for ‘the firm of global citizens’. “For those of us who see ourselves as global citizens, we are not foregoing our other identities, commitment and affiliations to our own countries, culture, religious and even political beliefs. These continue to give us meaning and add value to our lives. But because we are living in an intimately connected and interdependent world, and operating in a global market, we have added another layer of global identity, interest and responsibility. The Henley Global Citizens membership acknowledges and supports this identity and lifestyle in a very practical, everyday way that can add tremendous value for its members.”

Nada T. Rouviere, President of Insignia Group, stated, “Our partnership with Henley & Partners represents a new era in luxury lifestyle management. At Insignia, we have always been dedicated to providing our members with unparalleled experiences, and the Henley Global Citizens card is the embodiment of this commitment. Together with Henley & Partners we are redefining the meaning of global citizenship, offering an exclusive gateway to a world of limitless possibilities and connections. We look forward to enriching the lives of our members by facilitating their journey as true global citizens.”

Henley Global Citizens will be launched at a bespoke event on Friday, 10 November, following the 17 ^th annual Global Citizenship Conference which takes place this week (8-10 November) at the Shangri-La Hotel DIFC in Dubai, UAE.

The international conference hosted by Henley & Partners, where this year over 400 delegates from over 35 countries are expected to attend, has become the world’s largest and most significant gathering on global private wealth and investment migration, bringing together presidents, prime ministers, senior government ministers and officials, leading academics, private client advisors, family offices, and wealth management professionals, as well as many affluent entrepreneurs and investors.

The 2023 conference program features sophisticated, cutting-edge content on the major developments shaping global wealth planning, investment migration, and geopolitics today.

Notes to Editors

For further information and media accreditation to attend the Henley Global Citizens launch (10 November) and/or the 17th annual Global Citizenship Conference (8-10 November) please contact:

Sarah Nicklin

Group Head of Public Relations

[email protected]

Mobile: +27 72 464 8965

About Henley & Partners

Henley & Partners is the global leader in residence and citizenship by investment. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 40 offices worldwide.

The concept of residence and citizenship by investment was created by Henley & Partners in the 1990s. As globalization has expanded, residence and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs and investors whom we proudly serve every day.
Henley & Partners also runs the world’s leading government advisory practice for investment migration, which has raised more than USD 12 billion in foreign direct investment. Trusted by governments, the firm has been involved in strategic consulting and in the design, set-up, and operation of the world’s most successful residence and citizenship programs.

www.henleyglobal.com

About Insignia

Founded in 1996, Insignia began its journey as a provider of travel-related services and payment cards. Today, it has flourished into a comprehensive global luxury consultancy service, offering a bespoke 360-degree approach customized to meet each member’s needs.

With 24/7 access to dedicated personal assistants and an in-house lifestyle team, Insignia brings unprecedented service to its members. Insignia showcases an enviable range of super-premium and premium payment cards, from exquisite jewelry-inspired designs to refined luxury metal finishes. These offer unlimited spending potential and are tailored for business and individual use.

With over 27 years of experience, Insignia has mastered the art of catering to the lifestyle needs of the most influential and affluent individuals across the globe. Membership is by invitation only and is intentionally limited to maintain an atmosphere of exclusivity.

Today it is present in 7 cities – Dubai, London, New York, Hong Kong, Valletta, Bratislava and Geneva.

www.insignia.com

GlobeNewswire Distribution ID 1000897511