Joint Ventures – Saudi Mirror http://www.saudimirror.com News On-line Tue, 01 Aug 2023 08:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 Conagen and Sumitomo Chemical jointly develop a new era of renewable carbon materials http://www.saudimirror.com/conagen-and-sumitomo-chemical-jointly-develop-a-new-era-of-renewable-carbon-materials/ Tue, 01 Aug 2023 08:00:00 +0000 http://www.saudimirror.com/?p=216680 Bedford, Mass., Aug. 01, 2023 (GLOBE NEWSWIRE) — Conagen, the bioplatform innovator and biomanufacturer, and Sumitomo Chemical, Japan's leading chemical company, have announced to jointly develop p–hydroxystyrene (HS) and its polymer, poly p–hydroxystyrene (PHS), using a combination of biosynthesis, chemosynthesis, and polymerization. The monomer and the polymer are 100% renewable carbon, marking a new era of sustainable production.

Developing PHS using a combination of biosynthesis, chemosynthesis, and polymerization represents a significant breakthrough in sustainable material production. Efforts to reduce reliance on petroleum and transition towards renewable and sustainable alternatives have gained momentum in recent years. With renewable biomass as the starting material, this joint devolvement between Conagen and Sumitomo Chemical creates an environmentally friendly and cost–effective product. The partnership is in the lead position of active global initiatives to reduce petroleum–based products' consumption and environmental impact.

This partnership represents a significant milestone in developing sustainable materials, and this approach to PHS production is expected to reduce the carbon footprint associated with traditional chemical synthesis methods. It is a crucial step towards more sustainable manufacturing processes with a positive impact.

The Conagen–Sumitomo partnership leverages Conagen's expertise in microbial strain design and development with Sumitomo Chemical's proficiency in chemical production and commercialization. The collaboration aims to create a platform that enables the production of sustainable chemicals to replace petrochemicals in an extended range of many applications.

PHS is used to produce polymers, resins, and other chemicals. The monomer HS can also be used as an input for the synthesis of other substances, such as pharmaceuticals and fragrances. The applications of HS and PHS are limitless and can span uses from electronics to personal care and other consumer products.

"This partnership represents a significant step forward in pursuing green chemicals for sustainable material production,” said J. McNamara, Ph.D., V.P. of chemical applications at Conagen. “Our commitment is a testament to the power of collaboration and the potential of combining our technologies with synthetic and polymer chemistries to create innovative, sustainable solutions that can significantly reduce petroleum–based products in the environment,” McNamara stated. "Together, we're marking a new era of carbon–neutral material production efforts.”

The monomer HS, with the chemical formula C8H8O, is a derivative of styrene in which a hydroxyl group (–OH) is attached to the aromatic ring's para position (carbon atom 4). The HS and PHS are examples of green chemistry for minimizing waste, reducing hazardous chemicals, and using catalysts that can be easily separated and reused. This joint development project promises to potentially pave the way for developing novel renewable and sustainable materials. "Similar technology can be used to produce other key chemical ingredients by fermentation at industrial scale, such as cinnamic acid, monohydroxy–benzoic acid, and dihydroxy–benzoic acid," said McNamara.

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About Conagen

Conagen is making the impossible possible. It is a product–focused, synthetic biology R&D company with large–scale manufacturing service capabilities. Its proprietary strain development, fermentation, and scale–up technologies enhance our partners' sales, production, and profitability across a broad spectrum of current and developing markets in food, beverage, nutrition, flavor and fragrance, pharmaceutical, and renewable materials.

About Sumitomo Chemical

Sumitomo Chemical is Japan's leading chemical company, with a global presence in the chemicals, petrochemicals, and plastics industries. The company is committed to sustainability and has a product portfolio contributing to the United Nations Sustainable Development Goals.Top of Form

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[INVNT GROUP]™ and MSM Form Strategic Partnership to Enhance Global Marketing Power of Talent and Brands across Motorsport Industry http://www.saudimirror.com/invnt-group-and-msm-form-strategic-partnership-to-enhance-global-marketing-power-of-talent-and-brands-across-motorsport-industry/ Tue, 11 Apr 2023 13:08:33 +0000 http://www.saudimirror.com/?p=215810 New York, NY, April 11, 2023 (GLOBE NEWSWIRE) — [INVNT GROUP] THE GLOBAL BRANDSTORY PROJECT and MSM, the global talent and motorsport agency announce a strategic business partnership offering best–in–class marketing and commercial solutions for talent, brands, and events across motorsports, entertainment and beyond.

With over 40 years of experience and a proven track record of building standout relationships between brands, drivers, teams, and championships at the pinnacle of motorsport, MSM has developed an approach that is tailor–made for clients to unlock their full potential across sponsorship, hospitality, and bespoke events.

MSM specializes in identifying, nurturing, and supporting partnerships for brands and racing talent, providing lifelong value across every facet of the motorsport industry.

Led by Scott Cullather, CEO of INVNT.ATOM and President and CEO of [INVNT GROUP], the GROUP represents a growing portfolio of complementary disciplines designed to help forward thinking brands everywhere, impact the audiences that matter, anywhere, including Lamborghini, Samsung, General Motors, Meta, PepsiCo, Rolls Royce and more. [INVNT GROUP] was recently named Best Global Media Agency by Autocar for the 2023 Automotive Marcomm Awards.

[INVNT GROUP] consists of modern brand strategy firm, Folk Hero; creative–led culture consultancy, Meaning; production studio & creative agency, HEV'; events and experiences for colleges and universities, INVNT Higher Ed; digital innovation and Web3 division, INVNT.ATOM; Hypnogram, the creative multimedia experience studio; and INVNT, the original Challenge Everything live brand storytelling agency.

"Our partnership with MSM is driven by our commitment to innovation–led brand storytelling across industries including automotive and motorsports, which continue to push culture forward. The MSM team brings a dynamic and historied expertise of the motorsport and entertainment sector. Our global [INVNT GROUP] team strategically leads brands and organizations towards the next frontiers of engagement and community building, activating impactful campaigns at scale. We're excited to explore the boundless possibilities of this partnership, providing access to and opportunities with world–class experiences and brands," said Scott Cullather, President & CEO of [INVNT GROUP] and CEO of INVNT.ATOM.

MSM take pride in their longstanding association with the prestigious SCUDERIA FERRARI, the most successful and the most legendary motorsport brand globally, as well as their role as a certified introducer for several teams across Formula 1, the FIA World Endurance Championship and MotoGP, granting unique access to next–level commercial opportunities with each brand.

Racing talent currently managed by MSM includes Ferrari stars Giancarlo FISICHELLA, Antonio FUOCO and Antonio GIOVINAZZI. Team partners also include AF CORSE, a leader in the world of Hypercar and GT racing with Ferrari."

“We are thrilled to partner with [INVNT GROUP] and fuse our expertise in motorsport with their innovative portfolio of disciplines, fueling our brand storytelling capabilities across strategy, culture, experiential, digital, and Web3. Combined with the group's geographic spread across the world – which sync seamlessly with our key regional markets – this collaboration will undoubtedly strengthen our position as the go–to agency for all things motorsport, and we look forward to delivering even greater value and success for our clients,” noted Enrico Zanarini, Founder and CEO of MSM.

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ABOUT [INVNT GROUP]

[INVNT GROUP] was established as an evolution of the founding global live brand storytelling agency INVNT in 2008, with a vision to provide consistent, meaningful, well–articulated BrandStory across all platforms.

With offices in New York, Sydney, London, Singapore, Dubai, San Francisco, Stockholm, Detroit, and Washington D.C.; headed by President and CEO, Scott Cullather, [INVNT GROUP], THE GLOBAL BRANDSTORY PROJECT represents a growing portfolio of complementary disciplines designed to help forward–thinking organizations everywhere, impact the audiences that matter, anywhere.

The GROUP consists of modern brand strategy firm, Folk Hero; creative–led culture consultancy, Meaning; production studio & creative agency, HEV'; events for colleges and universities, INVNT Higher Ed; digital innovation division, INVNT.ATOM; creative multimedia experience studio, Hypnogram; and the original live brand storytelling agency, INVNT.

For more information visit: https://invntgroup.com/

ABOUT MSM

MSM is a leader in the world of motorsport and has been fostering standout relationships between brands, drivers, teams and championships for over 40 years.

The team specialises in individual and corporate management, offering clients their expertise across the marketing mix. MSM is active in sponsorship facilitation, commercial opportunity development and execution, client representation, tailored hospitality offerings, and managing bespoke events on and off track.

Having spent four decades in the most innovative sporting environment, MSM has developed an approach that is tailor–made for partners to unlock their full potential.

MSM's deep insight and unparalleled know–how enable their partners to connect with both new and existing audiences in an authentic way, while also delivering measurable commercial impact.

For more information, https://msmgroup.com

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MULTICHOICE AND COMCAST’S NBCUNIVERSAL AND SKY PARTNER TO CREATE LEADING STREAMING SERVICE IN AFRICA http://www.saudimirror.com/multichoice-and-comcasts-nbcuniversal-and-sky-partner-to-create-leading-streaming-service-in-africa/ Thu, 02 Mar 2023 07:47:11 +0000 http://www.saudimirror.com/?p=215437 Johannesburg, March 02, 2023 (GLOBE NEWSWIRE) —

  • Partnership offers growth opportunity in Africa, building on MultiChoice's footprint across 50 markets, its excellent execution track record on the continent and the successful Showmax brand.
  • MultiChoice to relaunch Showmax, powered by NBCUniversal's Peacock technology platform, along with world–class content from NBCUniversal and Sky, offering audiences the best experience with local and global entertainment, as well as live matches of the English Premier League (EPL) football.

Thursday March 2, 2023: MultiChoice Group (MultiChoice) (JSE: MCG) and Comcast's (NASDAQ: CMCSA) NBCUniversal and Sky today announced a new partnership that will bring some of the world's best content and technology to streaming customers across MultiChoice's 50–market footprint in sub–Saharan Africa, at a time when Africa is approaching an inflection point in terms of broadband connectivity and affordability. The new Showmax group will be 70% owned by MultiChoice and 30% by NBCUniversal. (*See Note). It will build on Showmax's success to date and aim to create the leading streaming service in Africa.

Powered by Peacock's leading, globally–scaled technology, Showmax subscribers will have access to an extensive premium content portfolio, bringing African audiences the best of local and international programming. The service will combine MultiChoice's accelerating investment in local content with a unique pipeline of award–winning and critically acclaimed international content licensed from NBCUniversal and Sky, third party content from HBO, Warner Brothers International, Sony and others, as well as live English Premier League (EPL) football. The partnership will also provide access to all the best African content such as Showmax Originals and local content from MultiChoice's proprietary channels including Mzansi Magic, Africa Magic and Maisha Magic.

Using a significant portfolio of global media assets and Peacock's streaming platform, which finished 2022 with over 20 million paid subscribers in the US, NBCUniversal and Sky will provide ongoing support through the licensing of both technology and content.

"We launched Showmax as the first African streaming service in 2015 and are extremely proud of its success to date. This agreement represents a great opportunity for our Showmax team to scale even greater heights by working with a leading global player in Comcast and its subsidiaries," said Calvo Mawela, Chief Executive Officer of MultiChoice. "The new business venture deepens an already strong relationship and builds on the Sky Glass technology partnership that we announced in September last year. We believe we are extremely well positioned to create a winning platform going forward."

Dana Strong, Group Chief Executive Officer, Sky, commented, "This new collaboration in streaming and content with MultiChoice, NBCUniversal, and Sky takes our partnership to the next level in one of the world's most vibrant, fastest growing markets. Last year, we announced MultiChoice as a customer of the Sky Glass platform and now we are excited to help innovate its Showmax streaming service."

Matt Strauss, Chairman, Direct–to–Consumer & International, NBCUniversal, added, "This partnership is an incredible opportunity to further scale the global presence of Peacock's world–class streaming technology, as well as to introduce millions of new customers to extensive premium content from NBCUniversal and Sky's stellar entertainment brands."

Further details about the new Showmax service, including launch date, content and pricing will be announced at a later date.

[*NB: In Nigeria, NBCUniversal will hold an indirect 23.7% stake in the local subsidiary]

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MultiChoice partners with The Earthshot Prize http://www.saudimirror.com/multichoice-partners-with-the-earthshot-prize/ Tue, 11 Oct 2022 08:43:28 +0000 http://www.saudimirror.com/?p=213522 Nairobi, Oct. 11, 2022 (GLOBE NEWSWIRE) — MultiChoice today announced its media broadcast partnership with The Earthshot Prize to help accelerate and spotlight the ingenuity and ambition of innovators, activists and scientists across Africa who are working to address the climate crisis on the African continent and around the world.

The Earthshot Prize aims to find scalable solutions to address the world's biggest environmental problems and repair the planet over the next 10 years. The Prize is awarded to winners in five categories, with each winner receiving 1 million grant to scale their work.

The partnership aims to raise awareness and understanding of The Earthshot Prize across Africa, supporting local finalists and highlighting their innovative solutions and mobilizing communities to address sustainability challenges.

"As the leading entertainment company in Africa, we have an extensive footprint on the continent – we reach 21.8 million households across 50 countries. We are well positioned to make a meaningful contribution to create a sustainable future in Africa. This partnership will enable us not only to educate communities on climate change, but to also encourage innovators to pitch their solutions, inspire other corporates to join the fight against climate change and to motivate governments to prioritize climate change as part of their national agendas", said Imtiaz Patel, MultiChoice Group Executive Chairman.

MultiChoice is a Member of The Earthshot Prize Global Alliance, a global network of non–profit and international organizations committed to the environment and sustainable development. The collective power of the Global Alliance gives the winners and finalists of the Prize access to resources across numerous professions and sectors including manufacturing, retail, supply chains, legal advice, digital technology, business strategy and government relations.

"There are thousands of game changers and entrepreneurs committing their lives to solving our generations' biggest challenges; investment and support is critical for each of them to fulfil their vision," said Hannah Jones, CEO of The Earthshot Prize. "MultiChoice is a deeply impactful partner and we are inspired by their incredible investment into The Earthshot Prize, one which will shine a spotlight on a multitude of solutions that might otherwise go unseen, pull hundreds of others into focus across the continent, and inspire a new generation of innovators."

For the next eight years, The Earthshot Prize will launch a global search every year for ground[1]breaking solutions to five Earthshot goals – Protect and Restore Nature, Clean Our Air, Revive Our Oceans, Build a Waste–Free World and Fix Our Climate.

The Earthshot Prize was first launched in 2021 with three African organizations selected as finalists "" Sanergy (from Kenya), Reeddi Capsules (from Nigeria) and Pole Pole Foundation (from the Democratic Republic of Congo).

By spotlighting these innovators and their solutions, the Prize aims to spark the world's collective imagination to drive a collective mindset of urgent action on the issues surrounding the climate crisis.

MultiChoice recognizes the importance of collaboration and partnerships to address socio[1]economic challenges. In the last 30 years, it has consistently partnered with non–profit organizations, civil society and governments to drive social change.

For more information about The Earthshot Prize click here: https://earthshotprize.org/

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About The Earthshot Prize

Founded by Prince William and The Royal Foundation in 2020, The Earthshot Prize is a global environmental prize to discover, accelerate, and scale ground–breaking solutions to repair and regenerate the planet. Inspired by President John F. Kennedy's Moonshot which united millions of people around the goal of reaching the moon, The Earthshot Prize aims to catalyse an Earthshot challenge to urgently encourage and scale innovative solutions that can help put the world firmly on a trajectory towards a stable climate, where communities, oceans, and biodiversity thrive in harmony by 2030. The five Earthshot challenges are: Protect and Restore Nature; Clean Our Air; Revive Our Oceans; Build a Waste–free World; and Fix Our Climate.

The Prize aims to turn the current pessimism surrounding environmental issues into optimism, by championing inspiring leadership and helping to scale incredible cutting–edge solutions. More than a Prize, it works in partnership with a Global Alliance of Partners to support the scaling of the solutions discovered and selected each year.

The Earthshot Prize Global Alliance is an unprecedented network of organizations worldwide which share the ambition of the Prize. The Global Alliance Founding Partners are a group of leading global organizations and philanthropists which act as strategic funding partners to the Prize, including Aga Khan Development Network, Bezos Earth Fund, Bloomberg Philanthropies, Breakthrough Energy Foundation, Coleman Family Ventures, DP World in partnership with Dubai EXPO 2020, Eleven Eleven Foundation, Holch Povlsen Foundation, Jack Ma Foundation, Legado Para A Juventude, Marc and Lynne Benioff, Paul G. Allen Family Foundation, and Rob & Melani Walton Foundation.

About MultiChoice Group

MultiChoice Group (MCG), which listed in the Main Board of the JSE on 27 February 2019, is one of the fastest–growing video entertainment providers globally, delivering entertainment products and services to 21.8m households across 50 countries on the African continent. Its track record of more than 30 years is reflective of a commitment to provide audiences with only the best local, sport and international content.

MCG's strong partnerships with distributors, installers and telecommunication companies, along with its well–established payment solutions, competitive pricing and choice of viewership packages continue to secure its place in the global market, while also providing solutions unique to the African market. Its direct–to–home (DTH), digital terrestrial television (DTT) and over–the–top (OTT) solutions enable the business to stay relevant and aligned to changing consumer habits while capturing new markets.

Content is at the very core of the business. MCG aims to deliver quality content anywhere, anytime and on any device through a comprehensive video entertainment offering at different price points. As pioneers in African video entertainment, MCG plays an important role in making information and entertainment easily accessible to Africans.

MCG aims to secure content rights in a manner that is cost–effective and reflective of the diversity of its audiences. Its substantial portfolio includes award–winning local content (a key differentiator in its service offering), a leading sport offering (including production capabilities) and access to international content, which is all shared on the group's platforms: DStv, GOtv, Showmax, M–Net and SuperSport.

MCG has superior technology capability through the security solutions that Irdeto, its technology company, brings to the group. These solutions enable MultiChoice to protect its investment, create new offerings and combat cybercrime. With 50 years' expertise in software security, Irdeto's software security solutions and cyber services protect over 5bn devices and applications for some of the world's best brands.


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New Gavi Risk Sharing Partnership with MedAccess and the Open Society Foundations to help meet country demand for COVID-19 vaccines http://www.saudimirror.com/new-gavi-risk-sharing-partnership-with-medaccess-and-the-open-society-foundations-to-help-meet-country-demand-for-covid-19-vaccines/ Thu, 07 Apr 2022 06:00:00 +0000 http://www.saudimirror.com/?p=214350 New York, April 07, 2022 (GLOBE NEWSWIRE) —

  • Gavi, MedAccess, and the Open Society Foundations announce a new partnership to create an innovative Risk Sharing Facility to support the COVAX Cost–Sharing Mechanism.
  • The partnership aims to build on intensive efforts by Gavi to extend its suite of innovative financing instruments to help donors and countries stretch their available resources as the pandemic shifts and to protect against future shocks. The Facility's instruments also represent a pathway and toolkit to address future global health crises.
  • This new partnership comes as Gavi seeks to raise additional funds to support COVAX. April 8 will see Germany co–host the 2022 Gavi COVAX AMC Summit, where governments, international organizations, civil society, and the private sector will come together to renew their commitment to global vaccination.

MedAccess, the Open Society Foundations, and Gavi, the Vaccine Alliance today announced a new partnership to create a Risk Sharing Facility to help countries procure additional COVID–19 vaccine doses, including variant–adapted doses in response to risks and shocks. The $200 million facility is designed to enable countries to protect more of their people and support COVAX's ambitions to make COVID vaccine procurement more sustainable and more tailored to country needs.

The Gavi COVAX Advance Market Commitment (Gavi COVAX AMC) provides COVID–19 vaccines free of charge for 92 of the world's lowest–income countries, helping them to meet the objectives set out in their national vaccination strategies""with more than 1.2 billion doses already shipped to AMC countries. In addition, AMC countries can also use the COVAX Cost–Sharing Mechanism to order more doses using domestic resources or low–cost financing from their multilateral development bank (MDB) partners, enabling them to protect more people, more quickly.

The new guarantees are aimed at increasing take–up of the Cost–Sharing Mechanism by facilitating the financing of orders. MedAccess will provide a $100 million procurement guarantee to enable COVAX to order more doses from manufacturers on behalf of AMC countries choosing to participate in cost–sharing. By purchasing through COVAX, countries benefit from lower prices per dose negotiated for a range of COVID–19 vaccines.

The Open Society Foundations will provide a further procurement guarantee of up to $100 million alongside MedAccess, through the Soros Economic Development Fund. This will help COVAX to respond to country requests for additional doses in the event of a future shock or demand spike.

"COVID–19 has wreaked havoc on health and financial systems in every country," said MedAccess CEO Michael Anderson. "Donors have stepped up with huge sums of money to drive COVAX's initial dose allocations, but innovative finance can unlock even greater value. Our support for Gavi will enable COVAX to work with countries to speed up access to these essential vaccines and put their programmes on a more sustainable footing."

"Innovative financing solutions are crucial to the success of global vaccination in 2022," added Dr. Seth Berkley, CEO of Gavi, the Vaccine Alliance. "Our partnership with MedAccess, thanks to the support of the Open Society Foundations, will allow countries to access additional resources through COVAX cost–sharing, helping them to meet the goals set out in their national vaccination strategies and respond to uncertainty and risks such as new variants. Together, we can break COVID–19."

"The inequities in access to vaccines in poor countries is one of the biggest, collective global failings of our time," said Mark Malloch–Brown, President of the Open Society Foundations. "Since the beginning of the pandemic, Open Society has responded in diverse ways to ensure that the most vulnerable have equitable access to vaccines, therapeutics, and diagnostics""just like those in rich countries. COVAX's Cost–Sharing Mechanism is an additional and important way to ensure governments have the agency, on their terms, to determine if, how, and when they acquire low–cost doses for their populations."

The COVAX Cost–Sharing Mechanism was launched in partnership between Gavi, the World Bank, and the Asian Development Bank in July 2021. Since then, the European Investment Bank has also joined and committed 300 million in financing for countries wishing to access additional doses through the mechanism. Countries with MDB–approved vaccination programmes can make requests to COVAX for additional vaccine doses. To date, Gavi has already ordered 140 million additional vaccine doses through cost sharing on behalf of 15 AMC countries, at a total value of $800 million.

Countries specify the preferred type of vaccine, number of doses and their desired delivery window, enabling COVAX to aggregate demand and exercise its options under agreements with vaccine manufacturers. The MDB provides a payment confirmation, which enables COVAX to confirm its order. Subject to finalisation of the legal agreement, MedAccess and Open Society's support aims to provide a backstop for Gavi during the period from exercising its option to country payment being confirmed; without the guarantees Gavi would be required to hold donor funds in reserve. This guarantee provides financial independence to Gavi for the benefit of COVAX AMC country partners.

On April 8, 2022, Gavi will hold the 2022 Gavi COVAX AMC Summit, co–hosted by Germany. Gavi aims to raise at least $5.2 billion in urgent financial support for COVAX, including $3.8 billion in donor funding for lower–income countries supported by the Gavi COVAX AMC. At least $1 billion of the $5.2 billion is intended to come from cost–sharing.

To date, COVAX has shipped more than 1.4 billion COVID–19 vaccine doses to 145 countries and territories.

Media contacts

Rob Kelly, Head of External Relations at MedAccess
+44 7867 132038
rkelly@medaccess.org

Evan O'Connell, Senior Media Relations Manager at Gavi
+41 79 682 18 95
eoconnell@gavi.org

Erin Greenberg, Senior Communications Officer, Open Society Foundations
erin.greenberg@opensocietyfoundations.org

About MedAccess

MedAccess is a U.K.–based social finance company with a mission to make global healthcare markets work for everyone. Its core purpose is to make medical supplies more widely available at lower prices in under–served markets. By applying the rigour and skills of business finance, it provides a novel solution to the challenge. MedAccess offers financial guarantees and debt products that reduce commercial risk and allow medical manufacturers to accelerate supplies into new markets at affordable and sustainable prices. In this way, vaccines, medicines, diagnostic tests and medical devices can reach patients far sooner than existing market forces would allow.

For more information see www.medaccess.org and follow MedAccess on Twitter @MedAccessUK.

About COVAX

COVAX, the vaccines pillar of the Access to COVID–19 Tools (ACT) Accelerator, is co–led by CEPI, Gavi and WHO "" working in partnership with developed and developing country vaccine manufacturers, UNICEF, PAHO, the World Bank, and others. It is the only global initiative that is working with governments and manufacturers to ensure COVID–19 vaccines are available worldwide to both high–income and lower–income countries.

Gavi's role in COVAX

Gavi leads on procurement and delivery at scale for COVAX: designing and managing the COVAX Facility and the Gavi COVAX AMC and working with its traditional Alliance partners UNICEF and WHO, along with governments, on country readiness and delivery.

As part of this role, Gavi hosts the Office of the COVAX Facility to coordinate the operation and governance of the mechanism as a whole, holds financial and legal relationships with 193 Facility participants, and manages the COVAX Facility deals portfolio: negotiating advance purchase agreements with manufacturers of promising vaccine candidates to secure doses on behalf of all COVAX Facility participants. Gavi also coordinates design, operationalisation and fundraising for the Gavi COVAX AMC, the mechanism that provides access to donor–funded doses of vaccine to 92 lower–income economies. As part of this work, Gavi provides funding and oversight for UNICEF procurement and delivery of vaccines to all AMC participants""operationalising the advance purchase agreements between Gavi and manufacturers""as well as support for partners' and governments work on readiness and delivery. This includes tailored support to governments, UNICEF, WHO and other partners for cold chain equipment, technical assistance, syringes, vehicles, and other aspects of the vastly complex logistical operation for delivery. Gavi also co–designed, raises funds for and supports the operationalisation of the AMC's no–fault compensation mechanism as well as the COVAX Humanitarian Buffer.

About Gavi, the Vaccine Alliance

Gavi, the Vaccine Alliance is a public–private partnership that helps vaccinate half the world's children against some of the world's deadliest diseases. Since its inception in 2000, Gavi has helped to immunise a whole generation""over 888 million children""and prevented more than 15 million future deaths, helping to halve child mortality in 73 lower–income countries. Gavi also plays a key role in improving global health security by supporting health systems as well as funding global stockpiles for Ebola, cholera, meningitis and yellow fever vaccines. After two decades of progress, Gavi is now focused on protecting the next generation and reaching zero dose children remaining deprived of even a single vaccine shot still being left behind, employing innovative finance and the latest technology""from drones to biometrics""to save millions more lives, prevent outbreaks before they can spread and help countries on the road to self–sufficiency. Learn more at www.gavi.org and connect with us on Facebook and Twitter.

Gavi is a co–convener of COVAX, the vaccines pillar of the Access to COVID–19 Tools (ACT) Accelerator, together with the Coalition for Epidemic Preparedness Innovations (CEPI) and the World Health Organization (WHO). In its role Gavi is focused on procurement and delivery for COVAX: coordinating the design, implementation and administration of the COVAX Facility and the Gavi COVAX AMC and working with its Alliance partners UNICEF and WHO, along with governments, on country readiness and delivery.

The Vaccine Alliance brings together developing country and donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry, technical agencies, civil society, the Bill & Melinda Gates Foundation and other private sector partners. View the full list of donor governments and other leading organizations that fund Gavi's work here.

About Open Society Foundations

The Open Society Foundations work to build vibrant and inclusive democracies whose governments are accountable and open to the participation of all people. We are active in more than 120 countries, making us the world's largest private funder of independent groups working for justice, democratic governance, and human rights. The Soros Economic Development Fund supports Open Society's mission through investments that advance the Foundations' enduring commitments of equity, expression, and justice.

For more information, see www.opensocietyfoundations.org and www.soroseconomicdevelopmentfund.org


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Investments & Wealth Institute and Association of Professional Fund Investors Form Strategic Alliance http://www.saudimirror.com/investments-wealth-institute-and-association-of-professional-fund-investors-form-strategic-alliance/ Tue, 12 Oct 2021 10:00:00 +0000 http://www.saudimirror.com/?p=214088 Denver, Co, Oct. 12, 2021 (GLOBE NEWSWIRE) — Two associations for investment practitioners who are committed to competent and ethical practice of investment management analysis and fund allocation have formed a multi–year strategic alliance to raise the bar of professionalism, and promote standards of quality for investment professionals around the world.

The strategic alliance aims to support and advance each organization's respective objectives.

  • The Association of Professional Fund Investors (APFI) will work collaboratively with the Institute to promote global awareness and adoption of the CIMA certification as the most relevant global standard for manager research and fund investing, thereby enhancing the competency and professionalism of services delivered to investors.
  • Investments & Wealth Institute has entered into a service agreement with APFI to support their aims to empower professional fund investors to learn, share ideas, network with their peers, and have a collective voice to national and global standards bodies and regulatory authorities.

The APFI has previously released a International Accreditations for Fund Selectors evaluating international accreditations available to industry professionals. While the Chartered Financial Analyst (CFA) designation is by far the most widely–held and most well–known accreditation in the financial services industry, the APFI believes that the Certified Investment Management Analyst (CIMA) accreditation is a better fit for professional fund selectors and recommended the CIMA certification as the most relevant and practical for fund allocators.

Adam Choppin, Executive Chairman of the Board for the APFI said, "All of the credentials we reviewed have excellent curricula and provide professionals with the necessary educational core to act as professional fund and manager selectors. But what sets them apart when you look at them side by side is how relevant, practical and useful each one is to a real working professional and what you have to do to maintain it. When we looked at those things objectively, the CIMA certification rose to the top."

"We really started from a point that said, what set of tools and skills should a fund allocator have, based on our individual experience from across the globe," said APFI Director, Gandy Gandidzanwa .

The CIMA accreditation is one of only six global accreditations approved by the APFI and of those only two require ongoing education to maintain the designation. "I was actually shocked when we did this review and found how few of these accreditations required ongoing education," Choppin said. "That you would say you never have to do anything ever again to be equally qualified doesn't make sense to me. I would never hire a fund manager who never made an effort to improve themselves." Formed in 1988 as a credential for investment management consultants, CIMA certification is one of only a handful of professional certifications in financial services that meets the rigorous accreditation requirements of ISO 17024, a global standard for personnel certifications. Earlier this year, CIMA certification was accredited by the ANSI National Accreditation Board under this standard. Today, the certification requires three years of professional experience, several background checks detailing a clean disciplinary and legal history, completion of a comprehensive executive education program at one of four registered programs "" The Wharton School, Chicago Booth School, Yale School of Management, or the Investment Management Research program in Australia. Following 300 hours of self–study, candidates must then pass a 140 question, five–hour examination, with a first time pass rate of 56%. All certified professionals must recertify every two years by maintaining ongoing ethics and continuing education requirements (40 hours every two years).

Operated and managed entirely by member volunteers, and independent of commercial interests, the APFI is a hub for professional allocators and manager research professionals from across the globe. Originally founded in Switzerland and now headquartered in the UK, with a leadership team spread from Cape Town to Kerala and Seattle to Sweden, the APFI's membership reflects the global diversity of the fund investing profession. The APFI has turned to the Investments & Wealth Institute as a technical partner to enable its global membership access to the modern tools of networking and collaboration for an increasingly digital age. Working with the Institute to globalize the reach of the APFI's most highly recommended accreditation (the CIMA), also furthers the APFI's goals of promoting the industry's highest levels of professional standards and integrity in fund investing.

"This partnership will unlock opportunities for members of the Association of Professional Fund Investors and bring substantial benefits to both organizations," said Sean Walters, Chief Executive Officer of the Investments & Wealth Institute. "Members and practitioners around the world can benefit from rich content sharing, moderated discussions, and a networked community of the world's best and brightest global investment professionals, hosted on our new community platform, and facilitated by APFI members, who work on nearly every continent around the globe."

###

About the Investments & Wealth Institute

Founded in 1985, the Investments & Wealth Institute is the premier professional association, education provider, and standards body for financial advisors. Through its award–winning events, publications, courses, and acclaimed certifications""Certified Investment Management Analyst (CIMA ), Certified Private Wealth Advisor (CPWA ), and Retirement Management Advisor (RMA )""the Institute delivers Ivy league–quality, highly–practical education to more than 30,000 practitioners annually in over 40 countries. Members of the Institute include the industry's most successful investment consultants, advanced financial planners, and private wealth managers who embrace excellence and ethics in applying a broad set of knowledge and skills in their daily work with clients. www.investmentsandwealth.org

About the Association of Professional Fund Investors

Formed in 2011, the Association of Professional Fund Investors advances the interests of investors by promoting professional standards and integrity in fund investing. APFI members are all professional fund investors "" professionals whose principal occupation is the identification and evaluation of investment managers, funds, vehicles, etc. that are external to their own organization. APFI promotes best practices in fund investing by setting global standards of professionalism and accreditation, while empowering professional fund investors to learn, share ideas, network with their peers, and have a collective voice to national and global standards bodies and regulatory authorities. www.profundinvestors.org


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‘Falcon’s Beyond Global’ Launches as Fully Integrated Development Enterprise for IP-Driven Parks, Resorts, Media, & Merchandise http://www.saudimirror.com/falcons-beyond-global-launches-as-fully-integrated-development-enterprise-for-ip-driven-parks-resorts-media-merchandise/ Wed, 07 Jul 2021 12:00:00 +0000 http://www.saudimirror.com/?p=214236 New enterprise brings proprietary "Katmandu' and partner IPs to global markets through theme parks, resorts, feature films, episodic series, consumer products, and beyond.

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Joint venture with Meli Hotels International brings access to prime real estate and a global operating presence in major tourist destinations in 40 countries.

ORLANDO Fla., July 07, 2021 (GLOBE NEWSWIRE) — With proven theme park success in Europe, an award–winning creative team, patented technologies, and access to global real estate in prime tourist destinations, Falcon's Beyond Global, LLC has launched as a fully integrated enterprise to propel story–driven, experiential entertainment around the world.

Until now, it has proven almost impossible for most IP franchises to rapidly deploy across media content, consumer products, and hardest of all, themed location–based entertainment, all at once.

The new enterprise, supercharged by a joint venture with Meli Hotels International, will be the only vertically–integrated entertainment powerhouse able to simultaneously activate an intellectual property across the full transmedia spectrum "" with the potential to transform the $440 billion hospitality and entertainment category.

Meli, the world's #1 leisure hotel group with 390+ properties in 40 countries, many in prime beach destinations, is jointly developing theme park + resort combos with Falcon's Beyond at flagship properties on multiple continents.

Falcon's Beyond was formalized this May when leading attraction design & master–planning firm Falcon's Creative Group united with themed–entertainment company Katmandu Group.

This powerful combination has instantly created the only fully integrated source for simultaneous entertainment IP activations""from streaming media development to theme park site acquisition; master planning to brick–and–mortar projects; immersive ride & attraction design to merchandise creation; right through world–class park & resort operation.

Expanding and Evolving the Katmandu IP

A first major focus of Falcon's Beyond will be to apply its IP Expander model to the rapid evolution of its original and wholly–owned "Katmandu" IP""already popular with the millions of Europeans who have visited Sol Katmandu Park & Resort in Mallorca, Spain, and a growing list of Katmandu–branded kids camps in Meli's Sol Hotels.

Audiences resonate with the Katmandu universe's timeless, intertwined tales""where mythical characters come to life in wild adventures, inspiring wonder with imaginative, immersive realms, elusive yetis, and a multicultural cast of adventurers.

Along with new characters, a streaming video series, and merchandise, the proven Katmandu IP will undergo a brick–and–mortar expansion. Through unique technological capabilities, Falcon's Beyond will establish Katmandu as the first world–class theme park to have every ride and attraction customized to a centralized story "like chapters in the same legend," and digitally tied to individual guest experiences.

Development is moving forward on additional Katmandu parks on the grounds of Meli resorts in Punta Cana, Dominican Republic, Tenerife, Spain and other key tourist destinations.

Enabling the Impossible

"Falcon's Beyond Global represents the ultimate combination of unlimited storytelling potential, agile and flexible real estate scalability, and imaginative expansion into a multitude of categories," said Cecil D. Magpuri, CEO of Falcon's Beyond Global and founder of the original Falcon's Creative Group. "We develop inclusive, story–driven experiences that we can bring to market with unprecedented speed, removing all the massive challenges IP franchises and developers face when attempting this feat on their own."

"We are truly enabling the impossible," said Scott Demerau, Executive Chairman of Falcon's Beyond Global and co–founder of Katmandu Group. "Through our partnership with Meli, we have created a new playbook for building cost–effective, "Big–Experience, Small–Footprint' theme parks, from beach resort communities to mixed–use entertainment spaces. Falcon's Beyond Global brings a full complement of technology, design, and media expertise to the equation. Together, we are offering something that's simply never been accessible to companies before. This is a huge benefit to developers, emerging IPs, and even entertainment giants."

Creating "Big–Experience, Small–Footprint" Parks

Meli Hotels and Katmandu Group originally came together in a 2012 joint venture to launch the themed Sol Katmandu Park & Resort in Mallorca and complement the beach holiday experience by providing "entertainment with rooms." Their proof–of–concept rocketed to the top of the Meli Sol portfolio and was named in the European Hospitality Awards as the #1 hotel in Europe for innovation in service, out of more than 100,000 hotels. Trivago Global named the park + resort as the #1 Hotel in Spain for Traveling with Kids. TripAdvisor named Katmandu Park in the top 3 parks in Spain three years in a row, and as a Travelers' Choice Best of the Best 2020.

Falcon's Beyond will elevate this unique, proven model of "Big–Experience, Small–Footprint" theme parks for Katmandu and other IPs around the world, leveraging the joint venture with Meli, whose global operating presence enables growth in any tourism destination across the Americas, Europe, Asia, and beyond. The rights to additional important IPs have already been secured, and Falcon's Beyond is in discussions with others to deploy complete transmedia expressions at unheard–of speeds. The company has worked on master planning and design projects totaling over $100 billion and won numerous design awards for its world–class attractions and experiences.

Revolutionary Alternative to Mega Parks

Traditional "mega theme parks" require at least 6–8 years of planning, billions in investment, difficult real estate acquisition, new transportation infrastructures, urban planning, and 5–7 years of construction.

Falcon's Beyond delivers a revolutionary alternative.

Falcon's proprietary rides and attractions are world–class, cutting–edge, story–driven, and the first of their kind. Its patented technologies are uniquely able to create mega–park experiences in "Big–Experience, Small–Footprint" parks "" which leverage underused land on existing resorts in dense tourist hotspots. Falcon's Beyond parks can be deployed in as little as a 24–36 month window at a tiny fraction of the cost of a mega park, with Falcon's providing expert, ongoing operations.

A True Disruptor

“Meli is committed to bringing extraordinary experiences to our guests around the world," said Andr Gerondeau, Chief Operating Officer of Meli Hotels International. "Katmandu–themed parks and resorts will be a vital part of our story moving forward, and we feel this initiative puts us five years ahead of the rest of the hospitality industry in delivering "entertainment with rooms.' Everyone at Meli is thrilled to be working with the creative minds and experienced development experts at Falcon's Beyond."

"Falcon's Beyond and its unprecedented, imaginative, and already–deployed IP activation model completely shifts the established entertainment industry paradigm," said industry leader Ken Faier, founder of Epic Story Media, a full–service, creator–driven kids entertainment company. "We have seen first–hand what Falcon's is creating and we are really excited to explore an epic collaboration. There is a big demand for families looking for exciting experiences around great IP."

With its expertise in intellectual property expansion, licensing, and immersive experiences, Falcon's Beyond Global has unprecedented power to turn imagined worlds into reality "" inspiring wonder in audiences and guests, with memories to last a lifetime.

About Falcon's Beyond Global LLC
Headquartered in Orlando, Florida, Falcon's Beyond Global, LLC is a fully integrated, top–tier experiential entertainment development enterprise specializing in intellectual property expansion. The company brings its own proprietary and partner IPs to global markets through owned and operated theme parks, resorts, attractions, patented technologies, feature films, episodic series, consumer products, licensing, and beyond. The company has won numerous design awards and provided design services in 39 countries around the world. It is composed of four core divisions: Falcon's Treehouse (master planning & design), Falcon's Digital Media, Falcon's Licensing, and Falcon's Parks & Resorts. Storytelling is the guiding force behind all Falcon's Beyond projects""which turn imagined worlds into reality. For more information, visit www.falconsbeyondglobal.com

About Meli Hotels International
Founded in 1956 in Palma de Mallorca, Spain, Meli Hotels International (MHI) has more than 390 hotels open, or in the process of opening, in more than 40 countries. They operate under the brands Gran Meli Hotels & Resorts, Paradisus by Meli, ME by Meli, Meli Hotels & Resorts, INNSiDE by Meli, Sol by Meli, and TRYP by Wyndham. The company is a global leader in resort hotels, and its resort experience has allowed it to become a leader in the growing market of urban hotels inspired by leisure. The Sustainability Yearbook 2020, published by S&P Global, named Meli among the Most Sustainable Hotel Companies in the World (Silver Medal), and it has been included among Europe's Climate Leaders 2021 by the Financial Times & Statista. Meli Hotels International is also a member of the IBEX 35 and is the Spanish hotel company with the best corporate reputation, per Merco Ranking. For more information, visit www.meliahotelsinternational.com

CONTACT:

Joel Moore
Praytell Strategy
joel@praytellagency.com

Mara Umbert
Meli Hotels International
maria.umbert@melia.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/77a4b0cf–859f–4c92–b5c4–8e95f66ea4f6


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General Fusion to build its Fusion Demonstration Plant in the UK, at the UKAEA Culham Campus http://www.saudimirror.com/general-fusion-to-build-its-fusion-demonstration-plant-in-the-uk-at-the-ukaea-culham-campus/ Wed, 16 Jun 2021 23:30:00 +0000 http://www.saudimirror.com/?p=214599 VANCOUVER, Canada and LONDON, UK, June 17, 2021 (GLOBE NEWSWIRE) — (BST) — The UK Atomic Energy Authority (UKAEA) and General Fusion have announced an agreement under which General Fusion will build and operate its Fusion Demonstration Plant (FDP) at UKAEA's Culham Campus. General Fusion will enter into a long–term lease with UKAEA following construction of a new facility at Culham to host the FDP. The FDP will demonstrate General Fusion's proprietary Magnetized Target Fusion (MTF) technology, paving the way for the company's subsequent commercial pilot plant. General Fusion will benefit from the cluster of fusion supply chain activities in the UK, centered on UKAEA's globally recognized expertise and presence in the field.

Amanda Solloway, Science Minister for UK Government said: "This new plant by General Fusion is a huge boost for our plans to develop a fusion industry in the UK, and I'm thrilled that Culham will be home to such a cutting–edge and potentially transformative project. Fusion energy has great potential as a source of limitless, low–carbon energy, and today's announcement is a clear vote of confidence in the region and the UK's status as a global science superpower."

The Fusion Demonstration Plant at Culham is the culmination of more than a decade of advances in General Fusion's technology, and represents a major milestone on the company's path to commercialization. The Fusion Demonstration Plant will verify that General Fusion's MTF technology can create fusion conditions in a practical and cost–effective manner at power plant relevant scales, as well as refine the economics of fusion energy production, leading to the subsequent design of a commercial fusion pilot plant. Construction is anticipated to begin in 2022, with operations beginning approximately three years later.

General Fusion and UKAEA intend to collaborate on a range of fusion energy technologies for power plant design and operation.

"Coming to Culham gives us the opportunity to benefit from UKAEA's expertise," stated Christofer Mowry, CEO, General Fusion. "By locating at this campus, General Fusion expands our market presence beyond North America into Europe, broadening our global network of government, institutional, and industrial partners. This is incredibly exciting news for not only General Fusion, but also the global effort to develop practical fusion energy."

The Culham Campus, the home of the UK's national fusion research programme, is owned and managed by UKAEA, widely recognized as a world leader in fusion energy development and innovation.

"This is a great development for UKAEA, very much in line with our mission to lead the development of sustainable fusion energy, and builds on our long heritage of hosting major fusion facilities such as the Joint European Torus," said Ian Chapman, CEO of UKAEA.

About General Fusion
General Fusion's mission is to pursue the commercialization of fusion energy based on its proprietary Magnetized Target Fusion technology. The company is based in Vancouver, Canada, with locations in Washington, D.C., and London, U.K. The company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers. General Fusion's partnership with the UKAEA coincides with an expansion of the company's global headquarters and research facilities in Vancouver, Canada, and a growing presence in the United States.

Twitter: @GeneralFusion More information: www.generalfusion.com

Media contact:
Grace Peach
Director, Marketing and Communications
General Fusion
Email: media@generalfusion.com
Phone: 1–866–904–0995

About UK Atomic Energy Authority
The UK Atomic Energy Authority (UKAEA) carries out fusion energy research on behalf of the UK Government at Culham Science Centre near Oxford. UKAEA oversees Britain's fusion programme, headed by the MAST Upgrade (Mega Amp Spherical Tokamak) experiment. It also hosts the world's largest fusion research facility, JET (Joint European Torus), which it operates for European scientists under a contract with the European Commission.

Fusion research at Culham is funded by the Engineering & Physical Sciences Research Council (EPSRC) and by the European Union under the EURATOM treaty.

Twitter: @UKAEAofficial More information: www.gov.uk/ukaea

Media contact:
Nick Holloway
UKAEA Media Manager
nick.holloway@ukaea.uk

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10dddd6f–2034–4cca–98b8–be66f10b601b


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Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture http://www.saudimirror.com/huber-signs-agreement-to-acquire-remaining-stake-in-magnifin-joint-venture/ Wed, 05 May 2021 16:00:00 +0000 http://www.saudimirror.com/?p=214770 ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) — On May 4, J.M. Huber Corporation ("Huber") signed a definitive agreement with RHI Magnesita ("RHIM") to acquire their 50% ownership stake in the companies' 50/50 joint venture, MAGNIFIN Magnesiaprodukte GmbH & Co. KG ("MAGNIFIN"). This transaction is expected to close in the second half of 2021, pending regulatory approvals.

Huber originally acquired its 50% ownership interest in MAGNIFIN as part of the purchase of the Martinswerk operation from Albemarle in 2016. Located in Bergheim, Germany, Martinswerk became part of the Huber Engineered Materials (HEM) Fire Retardant Additives (FRA) strategic business unit (SBU), which produces a wide range of halogen–free products for flame retardant and smoke suppression applications and aluminum oxides.

Based in Breitenau, Austria, MAGNIFIN has been producing and selling premium magnesium hydroxide (MDH) products since 1991. MAGNIFIN coated and uncoated magnesium hydroxides are environment friendly, non–halogenated flame retardants used in a wide range of polymer applications, especially thermoplastic materials and elastomers requiring high processing temperatures in excess of 300 C. Typical flame retardant applications include energy and LAN (local area network) data cables, automotive wire and cable, engineering thermoplastics (e.g. connectors) and construction foils.

"This transition is a strong strategic fit with HEM's mission to own and operate specialty chemical and mineral companies with market leading positions," says Dan Krawczyk, President of Huber Engineered Materials.

"This step forward demonstrates our commitment towards our customers to support their growth and our clear strategy to grow our halogen–free fire retardant business globally," adds Victor Dean, General Manager of HEM's FRA Business.

About Huber Engineered Materials
Huber Engineered Materials (HEM), headquartered in Atlanta, Georgia (US), is a global leader in the production of fine precipitated alumina trihydrate and magnesium hydroxide, both non–halogenated fire retardants. Its FRA business unit has four manufacturing sites in North America and two in Europe, one of which is the MAGNIFIN plant.

HEM has been a trusted supplier of halogen–free fire retardants and smoke suppressants for almost 40 years, manufacturing a large portfolio of value–added Hydral , Hymod , Martinal and Micral alumina trihydrates; MAGNIFIN , Vertex and Zerogen magnesium hydroxides; and Kemgard molybdate compounds for a variety of end–use applications, including reinforced polyester molding and pultrusion, engineering thermoplastics, roofing, silicone rubber, wire and cable, coatings and carpet backing. In addition, Huber produces Martoxid calcined aluminum oxides, Compalox specialty oxides and Pergopak carriers and matting agents.

HEM is focused on engineered specialty chemical and minerals that enhance the performance, appeal and processing of a broad range of products used in industrial, agricultural and consumer applications and also has a portfolio of high value agricultural nutrients and adjuvants and industrial, food and USP grade calcium carbonate products. For more information, visit www.hubermaterials.com.

About J.M. Huber Corporation
J.M. Huber Corporation, headquartered in Atlanta, Georgia (US), operates a diverse portfolio of companies: CP Kelco, Huber Engineered Materials, Huber Engineered Woods and Huber Resources Corp. With locations around the world, our businesses create products used in a broad range of applications including personal care, food and beverage, agricultural nutrients and adjuvants, building materials, flame retardants and smoke suppressants, as well as sustainable forestry services. Founded in 1883, Huber is one of the largest family–owned companies based in the US. For more information, visit www.huber.com.

MEDIA CONTACT:
Lea Volpe
Director, Corporate Communications
J.M. Huber Corporation
678.247.7128 phone
lea.volpe@huber.com


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Kibali Goldmines Rejects SOKIMO Claim http://www.saudimirror.com/kibali-goldmines-rejects-sokimo-claim/ Sun, 18 Apr 2021 17:59:14 +0000 http://www.saudimirror.com/?p=214666 KINSHASA, Democratic Republic of the Congo, April 18, 2021 (GLOBE NEWSWIRE) — Kibali Goldmines SA (Kibali) said today it had learned that SOKIMO SA was attempting for the second time to extort certain benefits from the company by filing new proceedings with the commercial court in Kinshasa. SOKIMO is a 10% shareholder in the Kibali gold mine which is operated by 45% owner Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) with the remaining 45% held by AngloGold Ashanti.

Kibali said SOKIMO had withdrawn its first claim of this kind after it had been shown to be without foundation. Kibali also rejects the current proceedings on the basis that it was similarly spurious and without substance, and would seek its dismissal as it had done with the previous claim.

Kibali has operated for the past 12 years under a joint venture agreement with a clear dispute resolution mechanism which in these instances had been ignored by SOKIMO, the company said.

Enquiries:
President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com


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