Day: December 12, 2022

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Ideanomics subsidiary Energica strengthens its position in the ASEAN region with entry into high-value Japanese, Australian markets

NEW YORK, Dec. 12, 2022 /PRNewswire/ — Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (EV), today announces that its subsidiary Energica has started selling its high-performance electric motorcycles in Japan and Australia. The first batch of motorbikes will arrive in both countries in Q1 2023.

“Japan is a key market for us. Energica’s presence in Japan was sealed in August at the eight-hour Suzuka Circuit where our bikes were acclaimed for their performance during the numerous test laps at this prestigious and world-renowned endurance race,” says Livia Cevolini, Energica Motor Company CEO. “Our partnership with Estar & Co., Ltd. in January 2020 has also improved our efforts in developing our Asia-Pacific network.”

Japan is a priority market for Energica, where nearly 10.3 million two-wheel vehicles are registered and more than 83,000 motorcycles over 250cc, Energica’s target market, were sold in 2021. Demand for EVs in Japan is growing fast, driven by regulations restricting vehicle emissions and a rapidly growing EV charging network. However, established OEMs have slowly introduced high-performance electric motorcycles in the 250-cc category. Energica will move fast to fill this gap and become the high-performance electric motorcycle of choice for Japan’s motorcycle enthusiasts.

In 2020, Energica established a strategic partnership with Estar & Co., Ltd. to import motorcycles into Japan. Estar & Co., Ltd. has opened a mono-brand showroom in Kobe, on the man-made island of Rokkō Island, where riders can come and test drive any Energica’s Eva Ribelle, Ego and EsseEsse9+. They have also developed a distribution network throughout the country.

In Australia, Australian Electric Motor Co. has partnered with Energica to offer a premium selection of electric motorcycles in Australia and New Zealand. Last year, motorcycle sales in these two countries hit a 15-year high with more than 100,000 new units sold, which makes these markets lucrative for further EV expansion.

“Ideanomics has committed to extending Energica’s footprint across the globe,” says Robin Mackie, Ideanomics Mobility CEO. “This new market entry into Japan and Australia will contribute to what we anticipate a strong fourth quarter and long-term consistent revenue growth.”

Energica has a proven track record of supplying motorcycles to customers across the ASEAN region. Recently, the company partnered with UTOMOCORP to deliver 88 EsseEsse9+ bikes to the Indonesian National Police. Additionally, Ideanomics subsidiary Treeletrik is providing after-sales support to Energica for the ASEAN region and has begun collaborating with Energica on joint sales and marketing strategies.

In Europe and Asia Pacific, Energica has added 12 new sales points since the beginning of the fourth quarter totaling 130 Energica dealers and importers worldwide. Year to date, Energica has sold 78% more motorcycles compared to the same time last year. Additionally, Energica already has a substantial backlog of orders for its newest product offering – the Green Tourer Experia.

With ongoing support from Ideanomics, Energica is accelerating the disruption of the global two-wheeler market with its high-performance electric motorcycles. The company also provides technology and expertise to other industries through its Energica Inside business unit. Ideanomics is solving the complexity of fleet electrification, offering fleet operators everything they need to electrify faster, easier and more affordably, all in one place.

About Ideanomics
Ideanomics is a global group with a simple mission: accelerating the commercial adoption of electric vehicles. By bringing together vehicles, charging and financing solutions under one roof, we are the one stop partner needed to simplify the transition to and operation of any EV fleet. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit https://ideanomics.com.

Safe Harbor Statement
This press release contains certain statements that may include “forward-looking statements”. All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contacts:

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com

Theodore Rolfvondenbaumen, Communications Director
Trolfvondenbaumen@ideanomics.com

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Conrad N. Hilton Foundation Pledges $1.2M Donation to UN-Hosted Sanitation and Water for All Partnership

GENEVA, Dec. 12, 2022 /PRNewswire/ — The Conrad N. Hilton Foundation has become the most recent donor of the UN-hosted Sanitation and Water for All global partnership (SWA), pledging $1.2 million to support water, sanitation, and hygiene projects through 2024.

The Hilton Foundation joins other SWA donors, including governments and prominent foundations such as the Bill and Melinda Gates Foundation.

“Access to clean water and sanitation is a crucial component of prosperity and development,” said Nabil Chemaly, senior program officer for the Safe Water Initiative at the Hilton Foundation. “We are excited to partner with SWA to help achieve our Safe Water Initiative goal of ensuring reliable, affordable and safely managed water to one million people in low-income households, health facilities and schools in sub-Saharan Africa by the end of 2025.”

Key priorities of the Hilton Foundation include accelerating access to safely managed water services in line with Sustainable Development Goal 6 in Ethiopia, Ghana, and Uganda.

SWA will provide these countries with dedicated support to shore up water, sanitation, and hygiene services against climate impacts and integrate these efforts into National Adaptation Plans.

Additionally, SWA will help identify financial bottlenecks and monitor national budget allocations.

“The Hilton Foundation has been a major champion of the human rights to water and sanitation in Africa, and across the globe,” said Catarina de Albuquerque, CEO of SWA. “We are delighted to welcome their support to the partnership and look forward to celebrating the impact we will make together.”

ABOUT THE CONRAD N. HILTON FOUNDATION

Started in 1944, the Conrad N. Hilton Foundation provides funds to nonprofit organizations working to improve the lives of individuals living in poverty and experiencing disadvantage throughout the world. For more information, visit www.hiltonfoundation.org.

ABOUT SANITATION AND WATER FOR ALL  (SWA)

SWA is a United Nations-hosted partnership working towards a joint objective of water, sanitation, and hygiene for all. Its partners include governments, utilities, regulators, donors, financial institutions, UN agencies, civil society and research organizations and the private sector. For more information, visit www.sanitationandwaterforall.org.

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La Fondation Conrad N. Hilton s’engage à faire don de 1,2 million de dollars au partenariat mondial des Nations unies Assainissement et eau pour tous (SWA)

GENÈVE, 12 décembre 2022/PRNewswire/ — La Fondation Conrad N. Hilton est le dernier donateur en date du partenariat mondial des Nations unies Assainissement et eau pour tous (SWA) ; elle s’est engagée à faire don de 1,2 million de dollars pour soutenir les projets d’accès à l’eau, à l’assainissement et à l’hygiène jusqu’en 2024.

La Fondation Hilton rejoint les autres donateurs de SWA, parmi lesquels figurent des gouvernements et des fondations de premier plan comme la Fondation Bill et Melinda Gates.

« L’accès à l’eau potable et à l’assainissement est un élément essentiel à la prospérité et au développement, a déclaré Nabil Chemaly, chargé de programme principal de l’initiative Safe Water à la Fondation Hilton. Nous sommes ravis de nous associer au SWA pour aider à atteindre l’objectif fixé par notre initiative Safe Water, qui consiste à garantir l’accès à une eau fiable, abordable et gérée en toute sécurité à un million de personnes vivant dans des foyers à faibles revenus, des établissements de santé et des écoles d’Afrique subsaharienne d’ici la fin de 2025. »

Les priorités clés de la Fondation Hilton comprennent l’accélération de l’accès à des services d’eau gérés en toute sécurité, conformément à l’Objectif de développement durable 6 en Éthiopie, au Ghana et en Ouganda.

Le SWA fournira à ces pays une assistance dédiée pour renforcer les services d’eau, d’assainissement et d’hygiène malgré les impacts climatiques et pour intégrer ces efforts dans les Plans nationaux d’adaptation.

En outre, le SWA aidera à identifier les obstacles financiers et à surveiller les affectations budgétaires nationales.

« La Fondation Hilton est un grand défenseur des droits de l’homme à l’accès l’eau et à l’assainissement en Afrique et dans le monde, a déclaré Catarina de Albuquerque, PDG du SWA. Nous sommes ravis qu’ils soutiennent le partenariat et impatients de célébrer l’impact que nous aurons ensemble. »

À PROPOS DE LA FONDATION CONRAD N. HILTON

Créée en 1944, la Fondation Conrad N. Hilton fournit des fonds à des organismes sans but lucratif qui travaillent à améliorer la vie des personnes qui vivent dans la pauvreté et défavorisées du monde entier. Pour plus d’informations, rendez-vous sur  www.hiltonfoundation.org .

À PROPOS DU PARTENARIAT ASSAINISSEMENT ET EAU POUR TOUS (SWA)

Assainissement et eau pour tous (SWA) est un partenariat mis en place par les Nations unies visant à atteindre un objectif commun : l’accès à l’eau, à l’assainissement et à l’hygiène pour tous. Nos partenaires comprennent des gouvernements, des fournisseurs, des organismes de réglementation, des donateurs, des institutions financières, des agences des Nations unies, des organisations de la société civile et de la recherche, et le secteur privé. Pour plus d’informations, rendez-vous sur  www.sanitationandwaterforall.org .

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Franco-US Satellite Set for Unprecedented Survey of Earth’s Water

A Franco-U.S. satellite is due for launch this week on a mission to survey with unprecedented accuracy nearly all water on Earth’s surface for the first time and help scientists investigate its impact on Earth’s climate.

For NASA and France’s space agency CNES, which have worked together in the field for 30 years, it’s a landmark scientific mission with a billion-dollar budget.

French President Emmanuel Macron went to NASA’s Washington headquarters at the end of November alongside U.S. Vice President Kamala Harris.

He highlighted the liftoff — scheduled for early Thursday on the U.S. West Coast — of the Surface Water and Ocean Topography (SWOT) mission to monitor the levels of oceans, lakes and rivers, including in remote locations.

Its predecessor, TOPEX/Poseidon, launched in 1992, was also a Franco-U.S. joint venture that measured ocean surface to an accuracy of 4.2 centimeters (1.7 inches).

It aided the forecast of the 1997-1998 El Nino weather phenomenon and improved understanding of ocean circulation and its effect on global climate.

The 2.2-metric ton SWOT mission will be put into orbit from Vandenberg Space Force Base in California atop a SpaceX Falcon 9 rocket.

The satellite’s primary payload is an innovative instrument to measure the height of water called KaRin, or Ka-band radar interferometer. Its two antennas, separated by a big boom, create parallel swaths of data.

“We’re going to get 10 times better resolution than with current technologies to measure sea-surface height and understand the ocean fronts and eddies that help shape climate,” said NASA Earth Science Division Director Karen St. Germain.

“It’s like looking at a car number plate from space when before we could only see a street,” added Thierry Lafon, SWOT project leader at the CNES.

The stakes are high. While the impact of major ocean currents such as the Gulf Stream is known, more local flows and eddies covering dozens of kilometers remain more of a mystery.

But they too affect sea water surface temperatures and heat transfer as well as the absorption by the oceans of carbon dioxide from the atmosphere.

SWOT will improve weather and climate modeling, the observation of coastal erosion and help track how fresh and saltwater bodies change over time.

With an “optimal” orbit of 890 kilometers (about 550 miles) above Earth, Lafon said SWOT will “take in all the components that affect water levels such as tides and the sun.”

NASA said SWOT will survey nearly all water on Earth’s surface for the first time.

It will monitor water levels, surface areas and quantities at more than 20 million lakes with shores of more than 250 meters. The entire length of rivers more than 100 meters wide will also be observed.

Water management, flood and drought prevention will be improved, said Lafon.

Flying the satellite to Vandenberg from the Thales Alenia Space (TAS) site in Cannes, southern France, proved a headache.

“Due to the conflict in Ukraine, there were no more Antonov 124s available, and the 747 cargo is too small,” said TAS project leader Christophe Duplay. “We decided to ask the [U.S. Air Force] to provide one of its C-5 Galaxies.”

And that meant counting on NASA to have the air force supply one of its rare giant aircraft to ship the huge payload.

SWOT has an estimated three-year lifetime — although Lafon said “nothing precludes the mission to last five to eight years” — and is set to become the first satellite to make a controlled reentry into Earth’s atmosphere, reducing the amount of space debris, in line with the French space operations act.

Nearly 80% of the 400 kilos (880 pounds) of onboard fuel will be used to that end.

 

 

Source: Voice of America

 

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Explainer: Why Fusion Could Be a Clean-Energy Breakthrough

The Department of Energy planned an announcement Tuesday on a “major scientific breakthrough” at the Lawrence Livermore National Laboratory, one of several sites worldwide where researchers have been trying to develop the possibility of harnessing energy from nuclear fusion.

It’s a technology that has the potential to one day accelerate the planet’s shift away from fossil fuels, which are the major contributors to climate change. The technology has long struggled with daunting challenges.


Here’s a look at exactly what nuclear fusion is, and some of the difficulties in turning it into the cheap and carbon-free energy source that scientists believe it can be.

What is nuclear fusion?

Look up, and it’s happening right above you — nuclear fusion reactions power the sun and other stars.

The reaction happens when two light nuclei merge to form a single heavier nucleus. Because the total mass of that single nucleus is less than the mass of the two original nuclei, the leftover mass is energy that is released in the process, according to the Department of Energy.

In the case of the sun, its intense heat — millions of degrees Celsius — and the pressure exerted by its gravity allow atoms that would otherwise repel each other to fuse.

Scientists have long understood how nuclear fusion has worked and have been trying to duplicate the process on Earth as far back as the 1930s. Current efforts focus on fusing a pair of hydrogen isotopes — deuterium and tritium — according to the Department of Energy, which says that particular combination releases “much more energy than most fusion reactions” and requires less heat to do so.

How valuable would this be?

Daniel Kammen, a professor of energy and society at the University of California at Berkeley, said nuclear fusion offers the possibility of “basically unlimited” fuel if the technology can be made commercially viable. The elements needed are available in seawater.

It’s also a process that doesn’t produce the radioactive waste of nuclear fission, Kammen said.

How are scientists trying to do this?

One way scientists have tried to recreate nuclear fusion involves what’s called a tokamak — a doughnut-shaped vacuum chamber that uses powerful magnets to turn fuel into a superheated plasma (between 150 million and 300 million degrees Celsius) where fusion may occur.

The Livermore lab uses a different technique, with researchers firing a 192-beam laser at a small capsule filled with deuterium-tritium fuel. The lab reported that an August 2021 test produced 1.35 megajoules of fusion energy — about 70% of the energy fired at the target. The lab said several subsequent experiments showed declining results, but researchers believed they had identified ways to improve the quality of the fuel capsule and the lasers’ symmetry.

“The most critical feature of moving fusion from theory to commercial reality is getting more energy out than in,” Kammen said.

 

 

Source: Voice of America

 

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St Kitts and Nevis Prime Minister takes lessons from Dubai to position twin-island federation as a business hub

Basseterre, Dec. 12, 2022 (GLOBE NEWSWIRE) — Prime Minister Terrance Drew of the island nation of St Kitts and Nevis was in Dubai recently for a state visit that not only aims to strengthen bilateral relations but also glean lessons from the United Arab Emirates that will pivot the island into a sought-after business and leisure hub in the Caribbean.

The new prime minister and his delegation had several meetings and engagements over the four-day trip which took place from 29 November to 3 December 2022.

The two regions have enjoyed years of fruitful relations that have resulted in several areas of cooperation in which both countries have achieved together. This includes the signing of a historic Air Services Agreement. The seminal move paved the way for air traffic between the Federation of St Kitts and Nevis and the UAE.

The UAE also expressed previous interest in assisting the twin island Federation in adapting stronger climate change resilient measures, particularly as it relates to infrastructure. As climate related weather patterns become more fierce, St Kitts and Nevis is looking to tap into Dubai’s knowledge and expertise in constructing durable and resilient structures.

Just as recently as the 1960s, Dubai’s economy was merely dependent on the revenues generated from trade and oil exploration concessions. A major chunk of revenue obtained from oil reserves started to flow in 1969 and the rapid development of Dubai began – including major infrastructure like schools and hos­pitals and, over the years, it trans­formed Dubai into the business hub we know today.

St Kitts and Nevis developed and instituted its citizenship by investment programme in 1984 as a way to increase and diversify revenue generation. For nearly 40 years the programme has been instrumental in catapulting the nation from just a small island in the Caribbean to a globally recognized investment destination.

Without this foreign direct investment into the nation, St Kitts and Nevis would have certainly progressed at a much slower pace than desired.

The government of St Kitts and Nevis has made considerable progress in reducing its public debt and is among other countries in the Caribbean that supplement their economic activity through CBI programmes which provide astute investors with the option to obtain citizenship by investing in the country. The new government administration of St Kitts and Nevis believes that residents of the United Arab Emirates (UAE) have a lot to benefit from its CBI programme.

The country is looking to build its reputation on the international stage and the CBI programme is one way to direct foreign direct investment to innovative projects across the spheres of education, health, agriculture and tourism.

For example, the travel and tourism sector accounted for one tenth of the gross domestic product (GPD) in St Kitts and Nevis in 2021, dropping for the second consecutive year. Part of the funds channeled the citizenship by investment programme will be used to revitalize the sector and re-establish St Kitts and Nevis as must-visit destination.

Attracting the right kind of developers who will inject cash into developing attractive real estate projects that will charm discerning investors, is one way to grow the tourism sector. Not only that but the upgrading and development of important infrastructure such as schools, hospitals, airports and hotel chains is another way the funds will be used to not only bring up tourist numbers but investors too.

The visit was also aimed at deepening relationships with important stakeholders including international investors and government approved agents, who play a vital role in promoting and supporting the country’s recently upgraded citizenship by investment programme.

St Kitts and Nevis is the first country of the Caribbean Community to establish a formal diplomatic presence in the UAE, recently opening an embassy and consulate in the region.

The members of the delegation which included, Cabinet Secretary, Dr Natta, Attorney General, Mr. Wilkin, Minister of Tourism, Ms. Henderson, Mr. Anthony and Ms. Galloway, were positive following the visit and believe that there were many lessons learned from visit that they could take back home and implement.

The visit also signifies to the world St Kitts and Nevis is open for business. During the visit, business partners, investors and citizens were able to meet the Prime Minister and the accompanying delegation members at an exclusive cocktail event that was hosted by the High Commission of St Kitts and Nevis during the trip.

The visit provided an opportunity for St Kitts and Nevis to attract investors who seek mutually beneficial partnerships with the nation.

Saint Kitts and Nevis administers one of the most successful citizenship by investment programmes in the world. This government delegation was aimed at showing investors, entrepreneurs and families from the UAE that they are all welcome in Saint Kitts and Nevis.

The Prime Minister’s visit has come at a time when the economies of many countries are affected by the lingering impact of the COVID-19 pandemic and by the consequences of the Ukraine-Russia conflict.

Prime Minister Drew is on a drive to find and implement solutions that will prosper St Kitts and Nevis and one of those actions included upgrading the country’s CBI programme – the government is taking measures to sustain and enhance the image of the twin-island federation’s CBI programme, so it is more transparent and follows the principles of integrity and good governance.

The St Kitts and Nevis government also recently launched its “Venture Deeper” campaign. This is a branding campaign aimed at highlighting the country’s famous and marked natural environment while introducing elements of introspective self-discovery and intention.

The campaign’s visual assets, showcased at a May 20 media premiere in New York, highlighted St Kitts and Nevis’ lush natural environment, including the territory’s rainforest, abundant historic landmarks and immersive cultural experiences.

St Kitts and Nevis’ revamped citizenship by investment programme is aimed at intelligent investors looking not only to prosper themselves, but those who are sustainability minded in their investment decisions.

PR St Kitts and Nevis
Government of St. Kitts and Nevis
mildred.thabane@csglobalpartners.com

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