EMGA advises on US$10M debt raise for Banco D-Miro

LONDON, Aug. 31, 2022 (GLOBE NEWSWIRE) — Emerging Markets Global Advisory Limited (EMGA), the niche investment bank focused on emerging markets, announces a Senior Debt raise transaction in Ecuador that will allow Banco D–Miro to continue the expansion of its microcredit lending activities in Ecuador.

The US$10 million debt facility was originated, advised upon, and structured by EMGA with financing provided by U.S. International Development Finance Corporation (DFC) and the transaction is the first time EMGA has completed an operation in Ecuador.

Commenting on the transaction, Banco D–Miro's CFO Fabian Victores Baque said, "We appreciate the support of EMGA and DFC to finalize this important transaction. Having a strategic partner such as DFC will help us to meet our objectives of generating more financial inclusion and increasing financing to women microentrepreneurs."

Jim Polan, Vice President of DFC's Office of Development Credit, said, "DFC's investment in Banco D–Miro will expand access to financing, enabling low–income populations and women entrepreneurs in Ecuador to recover from the COVID–19 economic downturn. With a focus on small businesses, this transaction will advance long–term development and economic growth in Ecuador, a key goal for DFC."

Sajeev Chakkalakal, Managing Director and Head of Investment Banking at EMGA, said, “It was a real pleasure for EMGA to have advised Banco D–Miro on this important transaction aimed at funding their small and medium enterprise loan portfolio with a particular focus on women–owned enterprises. Furthermore, closing yet another transaction with DFC demonstrates the strength of our relationship built across several years. Finally, we believe DFC's position as a pre–eminent development finance institution will add a new, strategic long term funding source for Banco D–Miro."

Jeremy Dobson, Managing Director of EMGA, added, "With this first transaction in Ecuador, EMGA adds to its operational footprint in Latin America, and we will continue to develop business in the country and the region."

Banco D–Miro: Banco D–Miro is an Ecuadorian bank specialized in microfinance and their vision is to be the bank that contributes the most to the reduction of poverty. The bank offers financial services to the micro, small and medium entrepreneurs in Ecuador and especially those areas, where the poverty levels are higher, and the penetration of financial services is the lowest.

DFC: U.S. International Development Finance Corporation (DFC) partners with the private sector to provide financing solutions that aim to address the problems facing the developing world. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.

Emerging Markets Global Advisory LLP, based in London, helps financial institutions and corporations seeking debt/equity capital. EMGA's team combines the decades of experience needed to complete transactions in emerging countries including Ecuador, which remains a key market. EMGA continues expanding and solidifying its place as a niche investment bank focused on emerging markets.

Jeremy Dobson


New Study Published in Clinical Cancer Research Journal Highlights Use of EndoPredict Test to Inform Treatment for Premenopausal Breast Cancer Patients

  • Myriad Genetics' EndoPredict test accurately identified premenopausal women with ER+, HER2– breast cancer who could safely avoid adjuvant chemotherapy

SALT LAKE CITY, Aug. 31, 2022 (GLOBE NEWSWIRE) — Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, announced today Clinical Cancer Research, a journal of the American Association for Cancer Research, published a study 1 that shows the EndoPredict breast cancer prognostic test significantly predicted distant recurrence in premenopausal women with ER+, HER2– early–stage breast cancer. This newly published study represents the first clinical validation of EndoPredict in a solely premenopausal population.

The study — first presented in an abstract at the 2021 ASCO Annual Meeting by Anastasia Constantinidou et al2 — examined tumor samples from 385 premenopausal women with ER+, HER2– primary breast cancer who had not received chemotherapy. The results show EndoPredict accurately identified premenopausal women with and without affected lymph nodes who could safely avoid adjuvant chemotherapy as part of their treatment plans due to a very low recurrence risk.

"This important publication on the new EndoPredict data demonstrates our ongoing commitment to advance precision medicine for patients with breast cancer," said Dr. Ralf Kronenwett, director of International Medical Affairs, Myriad Genetics. "In light of mounting clinical recommendations to reduce overtreatment in breast cancer, the results are particularly encouraging. With around a third of all new breast cancer cases occurring in patients aged 54 or younger3, using EndoPredict among premenopausal women provides important insights to inform personalized treatment, including whether there's a benefit to using chemotherapy or not."

The study shows that patients with EndoPredict low–risk scores had a 97% distant recurrence free survival (DRFS) versus 76% for high–risk patients. Importantly, 19% of node–positive premenopausal patients had EndoPredict low–risk scores with 100% DRFS and were able to safely avoid chemotherapy and continue onto endocrine therapy alone.

Another key result from an exploratory subgroup analysis within the study found similar DRFS rates in low–risk patients with or without ovarian function suppression (OFS), with less than 5% distant recurrence after 10 years in both groups.

"This important study shows that premenopausal patients with a low–risk EndoPredict score have a good long–term outcome without chemotherapy and may be considered for treatment with endocrine therapy only," said Dr. Anastasia Constantinidou, Bank of Cyprus Oncology Centre and Cyprus Cancer Research Institute. "These findings are relevant to better inform personalized treatment decisions for a large proportion of premenopausal women with ER+, HER2– early–stage breast cancer."

About the study
EndoPredict is a prognostic test that predicts patient risk of breast cancer recurrence to help identify who can consider safely forgoing chemotherapy. It analyzes 12 genes to create a molecular score, which is combined with tumor features, such as tumor size and nodal status, to establish a patient risk score (EPclin).

The Clinical Validation of EndoPredict in Premenopausal Women study tested tumor samples from 385 premenopausal women with ER+, HER2– primary breast cancer (pT1–3, pN0–1) who did not receive chemotherapy in addition to endocrine therapy. All samples were retrospectively tested blinded to clinical and outcome data with EndoPredict. Associations of EPclin Risk Scores with 10–year DRFS were evaluated by Cox proportional hazards models and Kaplan–Meier analysis. The primary outcome was 10–year DRFS.

In addition to EPclin, clinical variables of interest included age at diagnosis, tumor size, tumor grade, nodal status, Ki 67 expression, and continuous estrogen receptor (ER) expression and progesterone receptor (PgR) expression.

More information about this study can be found here.

1 Constantinidou et al. Clin Cancer Res 2022 (https://aacrjournals.org/clincancerres/article/doi/10.1158/1078–0432.CCR–22–0619/708058/Clinical–Validation–of–EndoPredict–in)
2 Constantinidou et al 2021 ASCO (https://ascopubs.org/doi/abs/10.1200/JCO.2021.39.15_suppl.537)
3 SEER Cancer Statistics Review, 1975–2016. Bethesda, MD: National Cancer Institute;2019.

About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well–being for all. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. Fast Company named Myriad among the World's Most Innovative Companies for 2022. For more information, visit www.myriad.com.

Myriad, the Myriad logo, BRACAnalysis, BRACAnalysis CDx, Colaris, Colaris AP, MyRisk, Myriad MyRisk, MyRisk Hereditary Cancer, MyChoice CDx, Prequel, Prequel with Amplify, Amplify, Foresight, Precise, FirstGene, Health.Illuminated., RiskScore, Prolaris, GeneSight, and EndoPredict are trademarks or registered trademarks of Myriad Genetics, Inc. 2022 Myriad Genetics, Inc. All rights reserved.

Safe Harbor Statement
This press release contains "forward–looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to using EndoPredict among premenopausal women to provide important insights to inform personalized treatment, including whether there's a benefit to using chemotherapy or not. These "forward–looking statements" are management's expectations of future events as of the date hereof and are subject to a number of known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company's filings with the U.S. Securities and Exchange Commission, including the company's Annual Report on Form 10–K filed on February 25, 2022, as well as any updates to those risk factors filed from time to time in the company's Quarterly Reports on Form 10–Q or Current Reports on Form 8–K.

Media Contact:
Megan Manzari
(385) 318–3718
Investor Contact:
Foster Harris
(385) 350–8015

Africa Should Trade its Carbon Credits to Fund Renewable Energy – UNECA

Africa needs to transit away from fossil fuels to renewables to boost energy security. Pictured here is a coal production plant in Hwange, Zimbabwe. Credit: Busani Bafana/IPS

Africa needs to transit away from fossil fuels to renewables to boost energy security. Pictured here is a coal production plant in Hwange, Zimbabwe. Credit: Busani Bafana/IPS

By Busani Bafana
Bulawayo, Aug 31 2022 – Africa needs to trade in carbon credits to reduce greenhouse gas emissions, finance the transition to renewable energy, and boost economic development, the United Nations Economic Commission for Africa (UNECA) says.

Carbon credits present an opportunity for African countries – many dependent on fossil fuels for energy – to protect themselves against climate change while raising much-needed finance for the transition to renewable energy transition, said Jean-Paul Adam, Director for Technology, Climate Change and Natural Resources Management Division at UNECA.

Jean-Paul Adam, Director for Technology, Climate Change and Natural Resources Management Division at UNECA.

Jean-Paul Adam, Director for Technology, Climate Change and Natural Resources Management Division at UNECA.

Carbon credits are globally traded commodities or permits that allow the emission of one tonne of CO2 or one tonne of carbon dioxide equivalent gases to be traded on national or international carbon markets. These credits, which can be used to boost economic growth and attract financing for various projects, are traded on the carbon offset markets.

By selling carbon credits, African countries can also tackle climate change by protecting their forests which absorb and store a measured amount of carbon. Besides, the carbon credits can also be sold as ‘offsets’ to companies unable to cut pollution to reduce emissions elsewhere.

Lack of finance and capacity to trade on the global carbon markets are hurdles for African countries have to overcome in the growing global carbon markets, where the carbon pricing revenue increased by almost 60 percent last year to about $84 billion, according to the World Bank.

Cashing in on carbon credits

Africa suffers energy insecurity, as seen in chronic power load shedding and blackouts that have a huge cost on people’s livelihoods and economic growth.

Fossil fuels dominate Africa’s energy mix, which comprises crude oil, coal, natural gas, hydropower, wind, and solar power. Africa is an untapped market for carbon trading. About two percent of global investments in renewable energy in the last two decades were made in Africa,  according to the International Renewable Energy Agency (IRENA) report.

But letting go of fossil fuels is a catch-22 situation for African countries. Many could lose essential revenue and risk stranded natural resources as the world demand for fossil fuels declines in favour of renewable energy.

According to the African Development Bank, more than 600 million people in Africa have no access to energy, and the continent has some of the world’s lowest electricity access rates for African countries at just over 40 percent.

The UNECA is supporting African countries to raise their resources reliably and transparently through carbon trading, said Adam, noting the need for an appropriate supervisory body for transparent carbon credit trading.

He said that African countries are the guardians of some of the world’s important carbon removing assets. Large-scale natural and land-based assets can enable African countries to meet  30 percent of the world’s sequestration needs by 2050.

“We know that the rate of deforestation in Africa is the highest in all regions of the world, and therefore a well-structured carbon credit system can allow African countries to protect at-risk resources and generate income from the protection of those resources,” said Adam.

UNECA projects that through nature-based carbon removal, Africa can generate between $15 and $82 billion annually, depending on the price of carbon. For example, at  $50 per tonne, the revenue potential from natural carbon sequestration removal would be $15 billion. Adam said the average price for carbon credit in Africa was currently about $10 per tonne, which could be raised with the creation of high-integrity registries.

Africa’s carbon market was not as well developed as many countries did not have a registry to measure carbon emissions and trade them.

Adam argued that a predictive carbon market would benefit African countries with long-term access to affordable energy.

Africa accounts for only three percent of cumulative global CO2 emissions and less than five percent of the world’s annual CO2 emissions. The United Nations Framework Convention on Climate Change (UNFCCC) highlights that Africa has made the smallest historical contribution to the greenhouse gases causing global warming but bears the brunt of the negative impacts of climate change.

“African countries on average are spending nine percent of their budgets, that means for every $100 that governments are spending, $9 is being removed right at the onset just for paying for climate change,” Adam told IPS. “Essentially, climate change is putting a tax on African countries that is higher relative to incomes in other countries.”

Adam says Africa has crafted an energy transition plan to boost energy security using natural gas as a transition fuel, given that many countries did not have access to geothermal and hydropower that could also be used for baseload generation.

African countries, through the African Union, have adopted a common position for energy transition recognising natural gas as a temporary energy need with oil and coal being phased out and allowing for more investment in renewable energy, particularly solar, wind and geothermal.

No to gas

The African Common Position on Energy Access and Transition proposed for adoption by African Heads of State and to be launched at COP27 in Egypt this year comes on the back of the European Union’s recent vote in favour of a new rule that will consider fossil gas and nuclear projects as “green”.

The African Group of Negotiators (AGN) and the African civil society have opposed the plan. They worry it would detract from Africa’s energy access and transition goals while locking the continent into fossil fuels for decades.

“Africa is blessed with abundant wind, solar, and other clean, renewable energies. African leaders should be maximising this potential and harnessing the abundant wind and sun, which will help boost energy access and tackle climate change,” said Mohamed Adow, Director of Power Shift Africa.

Lorraine Chiponda, Africa Coal Network Coordinator, said the acceleration of gas projects in Africa was another colonial and modern ‘Scramble and Partition of Africa’ among energy corporations and rich countries.

While Omar Elmawi, coordinator of #StopEACOP, commented, “Africa needs to wake up and stop behaving like (it’s) Europe’s petrol station and always looking at resolving their (developed nation’s) energy problems. It is time to think collectively about what’s best for the continent and its people. This is a continent ripe with renewable energy potential.”

IPS UN Bureau Report


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Latin America Looks to COP27: ‘The Time to See Ourselves Only as Climate Victims is Over’

As climate change is felt across Latin America in extreme weather events, forced displacement and declining agriculture, region must play an active role at COP27

A worker carries trees to be planted during a reforestation project in Nova Mutum, Brazil, 2020. Latin America is one of the regions most vulnerable to climate change, but adaptation and mitigation projects are increasing in the region (Credit: Alexandre Meneghini / Alamy)

By Alejandra Cuéllar
MÉXICO, Aug 31 2022 – Latin America is already one of the world’s regions hit hardest by the impacts of climate change. Extreme weather events such as droughts, heatwaves, tropical cyclones and floods have caused scores of deaths and severe damage to crop production and infrastructure, as underlined in a recent regional report by the World Meteorological Organization (WMO).

As these events have increased in frequency and intensity, they have also driven millions of people to migrate. With the region’s average temperatures projected to rise at rates above the global average, these converging crises are expected to deepen in the coming decades.

As the UN’s next climate summit, COP27, approaches it is apparent that Latin America needs support from the global community. In a region beset by economic struggles, there have long been calls for financial tools that support multi-faceted efforts to combat climate change, at both the local and regional level – calls likely to grow ever louder after many were left frustrated by progress at last year’s COP26 conference.

But a concurrent shift in tone is being seen from some corners in Latin America ahead of the summit, set to be held in Egypt in November, with prominent voices calling on the region to play its own, increasingly assertive role in climate negotiations, and in driving climate action from home.


Climate impacts in Latin America

The WMO’s report exposes some alarming data on the impacts a warming world and changing climate have already brought upon Latin America. For example, glaciers in the tropical Andes have lost nearly 30% of their area since the 1980s, increasing the risk of water scarcity for populations and ecosystems in the region – and the risk of flooding for communities in proximity to them.

In 2021, sea levels in the region, specifically on its Atlantic side, also rose at a faster rate than the global average, raising the threats of flooding, freshwater contamination and storm surges in the coastal areas where a large portion of the population is concentrated.

The report also highlight’s Chile’s intensifying mega-drought, which has now entered its thirteenth year, making it the longest and most severe in a thousand years. The worsening drying trend is forcing its authorities to urgently improve water management, as tensions rise in some areas of the country, and address electricity supply issues to account for a shortfall in hydropower output – a source from which it has historically generated a sizeable portion of its electricity.

In South America more generally, droughts contributed to a 2.6% decline in the 2020–2021 cereal harvest, compared with the previous season, the WMO reports. Threats to the region’s agricultural – and by extension economic – output were compounded by heatwaves.


As climate change is felt across Latin America in extreme weather events, forced displacement and declining agriculture, region must play an active role at COP27


Upon the release of the WMO’s first edition of its “State of the Climate” report for the region in 2021, the WMO’s secretary-general, Petteri Taalas, had emphasised how Latin America and the Caribbean are “among the regions most challenged by extreme hydro-meteorological events” – an assertion only further underscored by this year’s update.

Taalas pointed to a number of recent extreme weather events, highlighting “the death and devastation from Hurricane Eta and Iota in Guatemala, Honduras, Nicaragua and Costa Rica, and the intense drought and unusual fire season in the Pantanal region of Brazil, Bolivia, Paraguay, and Argentina.”

Notable impacts of these events, the secretary-general added, included “water and energy-related shortages, agricultural losses, displacement and compromised health and safety”, all of which “compounded challenges” of the Covid-19 pandemic, and the recovery from it.


Standing up in adversity

Latin American and Caribbean nations together account for less than 10% of global annual greenhouse gas emissions, with most of their contributions coming from the energy sectoragriculture and land use change. But in its increased exposure to extreme events and above-average rates of change, the region is bearing the brunt of larger polluters’ emissions.

However, a change in tone was notable among some attendees at the recent Latin America and the Caribbean Climate Week, held in the Dominican Republic in July. Some experts were keen to assure that Latin America would not be entering upcoming climate talks simply as sufferers, but as active participants shaping the direction of action.

Max Puig, executive vice-president of the Dominican Republic’s National Council for Climate Change and Clean Development Mechanism (CNCCMDL), stressed that Latin America and the Caribbean will arrive at this year’s COP with a firm position. “The time to see ourselves as climate victims is over. Although we are, the time to take the helm of the ship has begun,” he said.

“It must be clear to our peoples and to the world that we are serious and that, even in the most difficult circumstances, we are not going to stop. We will overcome the difficulties. This is the message that Latin America and the Caribbean are taking to COP27 in Egypt.”

Some civil society representatives had hoped for more progress at the recent Climate Week, particularly ensuring that climate justice and human rights are put at the centre of discussions. But other figures were more positive about the event’s outcomes in building regional momentum – and steps towards consensus – ahead of COP27.

“After spending several days at this year’s Latin American and Caribbean Climate Week, I have seen that the countries of the region are making progress. I also saw the potential to accelerate climate action,” Ovais Sarmad, deputy executive secretary of UN Climate Change, told Diálogo Chino after the event’s conclusion. “We’ve heard a lot of potential solutions during this week.”


Adaptation, solutions and opportunities

Although faced with tremendous challenges, Latin America has also proven to be a hub for innovative solutions to climate change. The region has great potential in renewable energies such as windsolar and geothermal. There have also been advances in the transport sector, particularly in electric buses in the past decade, and a nascent growth in the uptake of private electric cars, with nations increasingly looking to spark a broader switch to electric vehicles.

Latin America and the Caribbean have also demonstrated a wealth of solutions that promote adaptation and mitigation, many of which may be replicated in other regions according to needs and contexts. Many of these solutions have been seen in the agricultural sector, with some derived from ancestral knowledge and historic practices that promote better management of water, land and energy.

Practices that fall under the umbrella of regenerative agriculture are gaining increased attention in Latin America. Agroforestry for example, which integrates trees into agricultural systems, can enhance productivity, improve and increase biodiversity, and contribute to greater carbon sequestration. Meanwhile, the region’s coastal ecosystems such as mangroves and marshes are now being recognised for their potential to mitigate climate change by sequestering carbon, while providing a range of other benefits.


As climate change is felt across Latin America in extreme weather events, forced displacement and declining agriculture, region must play an active role at COP27


Forests are also Earth’s most vital sites of carbon sequestration, but face significant threats – perhaps nowhere more so than in Latin America, where biomes such as the AmazonCerrado and Gran Chaco have all witnessed vast deforestation in recent decades.

“With almost half of its area covered by forests, Latin America and the Caribbean represents about 57% of the world’s remaining primary forests, storing an estimated 104 gigatonnes of carbon. Fires and deforestation are now threatening one of the world’s largest carbon sinks, with far-reaching and long-lasting repercussions,” the WMO’s Taalas said at the launch of last year’s “State of the Climate” report. Despite notable progress and declarations at last year’s COP26, the monitoring and prevention of deforestation will likely remain on the agenda heading into this year’s summit.

The WMO’s 2021 report also stressed the need for strengthening early warning systems in Latin America. These are multi-hazard early warning systems (MHEWS) that can warn people about extreme weather events and prevent millions of deaths. These are essential tools for effective adaptation in areas at risk from weather, water and climate extremes, but for many nations, as with many solutions, effectively implementing them may be reliant on increased finance – highlighting once more what is likely to be a key agenda item as Latin America looks towards COP27.

COP27 takes place ​​6–18 November in Sharm el-Sheikh, Egypt.

This article was originally published by ChinaDialogue

LeddarTech Is Recognized With Two Prestigious Awards for Its Raw Data Sensor Fusion and Perception ADAS and AD Platform

QUEBEC CITY, Aug. 31, 2022 (GLOBE NEWSWIRE) — LeddarTech , a global leader in providing the most flexible, robust and accurate ADAS and AD sensing technology, proudly announces receiving two awards recognizing its LeddarVision sensor fusion and perception platform. The platform is a flexible, robust, cost–effective, sensor–agnostic and scalable auto–grade solution that delivers highly accurate 3D environmental models. In addition, the software supports all SAE autonomy levels by applying AI and computer vision algorithms to fuse raw data from sensors employed in L2–L5 on–road and off–road autonomous vehicle applications.

Tel Aviv, Israel, May 2022 "" The Volkswagen Group Innovation Tel Aviv 2022 Konnect and CARIAD Startup Challenge awarded LeddarTech with a cash prize for its sensor fusion and perception technology

"We were impressed by LeddarTech's professionally prepared pitch and proposal of a PoC," stated Jan Zawadzki, Head of AI, CARIAD. "We were intrigued by their technical capabilities, which fit our general ADAS strategy, and we're looking forward to creating an AI safety–related PoC with their product," Mr. Zawadzki concluded.

LeddarTech was selected in the final round of the competition after Konnect, the Open Innovation Hub of the Volkswagen Group, and the VW Commercial Vehicles judges screened more than 30 Israeli startups.

CARIAD is responsible for building the leading tech stack for the automotive industry, aiming to create a new automotive experience and increase the innovation speed of Volkswagen Group to make the car a sustainable, safe and seamlessly connected mobility companion in a digital world.

Shenzhen, China, August 13, 2022 "" The Shenzhen Automotive Electronics Industry Association recognizes LeddarTech with the Automotive Electronics Science and Technology Award for LeddarVision in the Product Innovation Excellence category

LeddarTech received this award for its highly innovative raw data sensor fusion and perception technology that enhances ADAS and AD safety over traditional object fusion technology. This industry–first solution is also sensor agnostic and scalable, thus enabling its customers to scale up to Level 5 autonomy on the same platform. This commitment to a safer and more customer–centric sensor fusion and perception software solution sets LeddarTech apart, leading to being selected for this prestigious award.

The Shenzhen Automotive Electronics Industry Association was founded in 2010 as a non–profit organization with over 500 members representing auto electronics and related parts technology companies across China. The award recognizes scientific research and technological innovation in the auto electronics industry. The award–winning companies were determined after advanced engineering judges from the automotive industry and R&D experts from leading domestic automotive companies assessed more than 250 products.

"The recognition of our technology from these two organizations represents a profound acknowledgment of the expertise and challenging work of the sensor fusion and perception engineering teams led by our R&D center in Israel and our employees around the world who support these efforts," stated Mr. Charles Boulanger, CEO of LeddarTech. "These awards are greatly appreciated and acknowledge our industry differentiation, commitment to win–win partnerships and, most importantly, our mission to enable ADAS and AD products that improve safety and the quality of life of drivers and the general public," Mr. Boulanger concluded.

About LeddarTech

Founded in 2007, LeddarTech is a comprehensive end–to–end environmental sensing company that enables customers to solve critical sensing, fusion and perception challenges across the entire value chain. LeddarTech provides cost–effective perception solutions scalable from Level 2 ADAS to Level 5 full autonomy with LeddarVision, a raw–data sensor fusion and perception platform that generates a comprehensive 3D environmental model from a variety of sensor types and configurations. LeddarTech also supports LiDAR manufacturers and Tier 1–2 automotive suppliers with key technology building blocks such as LeddarSteer digital beam steering and LeddarEngine, which comprises a highly integrated, scalable LiDAR SoC and software combination that enables the accelerated design of automotive–grade LiDAR solutions with optimized cost–to–performance ratios. The company is responsible for several innovations in cutting–edge automotive and mobility remote–sensing applications, with over 140 patents granted or applied for, enhancing ADAS and autonomous driving capabilities.

Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter, Facebook and YouTube.

Daniel Aitken, Vice–President, Global Marketing, Communications and Investor Relations, LeddarTech Inc.
Tel.: + 1–418–653–9000 ext. 232 daniel.aitken@leddartech.com

Investor relations contact: InvestorRelations@leddartech.com

Leddar, LeddarTech, LeddarSteer, LeddarEngine, LeddarVision, LeddarSP, LeddarCore, LeddarEcho, VAYADrive, VayaVision, XLRator and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

Saudi Falcons Club: Experts praise the impact of the International Saudi Falcons and Hunting Exhibition as global breeders attend the fourth edition in Riyadh

RIYADH, Saudi Arabia, Aug. 30, 2022 (GLOBE NEWSWIRE) — Falcon experts from breeding farms around the world have been singing the praises of this year's International Saudi Falcons and Hunting Exhibition just two days into the event.

Now in its fourth year, the exhibition is larger than ever with visitation expected to top 500,000 over the course of the event, which runs from 25th August – 3rd September. Over 350 exhibitors are in attendance and many have shared their delight at the impact the exhibition is having on the industry.

Held at the Saudi Falcons Club HQ at Malham, attendees are greeted by the vast auditorium packed with falconry stalls, memorabilia, technology, equipment, photographs and items detailing the rich history of falconry in Saudi Arabia, including a huge stand showing the important work the Saudi Falcons Club does to promote the art of falconry and also the conservation of birds of prey. Namely with its Hadad project that helps the conservation of both two migratory falcons – the Saker falcon and the Peregrine falcon, along with the two resident birds, the Barbary falcon and the Lanner falcon.

International falcon breeders have been showcasing their stunning birds, with farms being represented from around the world. Numerous breeders from Europe include the UK's Fox and Desert falcons, France's SB Falcons and Hura Falcons from Belgium. From further afield, Sullivan Mews are attending from USA while more locally Gulf Falcons are in attendance from Bahrain.

French Breeder Philippe Hertel from SB Falcons said: "It's my second participation at the exhibition and we are very proud and happy to have our farm here. For us it's very important to be a part of the event as the business in Saudi Arabia there is a lot of falconers so of course we should be here to present our birds. We specialize in racing and so we have very fast falcons, we have had some winners in the past, so it's important for the people here to see what we have to offer. The organization of the event is very good, from the shipping to the accommodation etc. It's the best in the world compared to other events.”

German Breeder Ulf Voss from Voss Falcons said: "It's the first time we are here, we are very happy to have been invited! We have 38 falcons with a great racing and hunting history. We try to bring the best racing falcons while making some great contacts for the future. We hope to increase our business with Saudi Arabia and so we are here getting our brand name out there to the people within the industry, it's the most important thing for us right now. Saudi Arabia is the place to be for falconry at the moment and so it's a really interesting market right now."

Belgian Breeder Giel Van Haecke from Hura Falcons said: "It is very well organized, and it's a great place for people to gather, connect and meet. You can't get any better for the breeder, it's a great place to sell birds and you need an event like this to make your name. Everyone is very friendly and there is a lot of different birds this year and when you breed quality there is no problem."

The exhibition has a special section dedicated solely to the history of falconry both in Saudi Arabia and around the world. This area is full of interactive exhibits in place to educate and inspire the next generation of falconers in the Middle East. Other areas include an art gallery, featuring Saudi artist Hila Alhmod who is displaying a stunning Peregrine falcon, which has been created by pyrography. There is also an impressive auction hall for the daily falcon auctions. Education is a huge theme this year and experts are giving daily talks on the art of falconry, and there's a big emphasis on encouraging the next generation of falconers through motivational speaking and children's learning areas.

Now in its fourth year, the International Saudi Falcons and Hunting Exhibition 2022, has been welcoming visitors and exhibitors from over 30 participating countries, making it the biggest edition of the event thus far. The event, taking place in Riyadh, runs until 3rd September 2022.

Media Contact: Ahmad AlRefaie – +966 54 501 7470 – ahmad.alrefaie@xpotential–data.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0eaefc2d–f957–43a0–94c1–8429d510453f

Meco Limited announces the launch of world first advanced solar-electric cryptocurrency mining rigs for enhanced performance.

LONDON, Aug. 30, 2022 (GLOBE NEWSWIRE) — Meco Limited (Mecobit) unveiled the much–anticipated Ultimate Solar Power System (a solar power system with amazing backups and cryptocurrency miners) at an elite launch event at the Hong Kong Technology Bureau in August 2020.

Compact Solar Station Solar Panel Kit (Complete) Solar Array M4000 Highlights one of the most memorable solar powered crypto equipment in the world. Essential equipment that helps keep running or affects equipment such as appliances, dryers, pool siphons or electric car chargers, or even cryptocurrency mining equipment. We are looking for a boost from the global problems of fossil fuel by–products, high levels of electricity consumption. “It improves the way we approach imagination and planning. Moreover, make this progress reasonable for the customer,” said B. FRANCI, CEO of MECO LIMITED.

With the solar–focused part of the controlled hash rate seemingly easy to develop, many see the potential for sustainable electricity use in Bitcoin mining as a cycle of justice "" Mecobit provides an extreme boost to cryptocurrency mining by enabling the mission to use sustainable electricity. The cheapest electricity imaginable will encourage more tasks to focus exclusively on environmentally friendly sources such as solar energy.

Key features of our miners:

Meco Rack:

Capacity: BTC–4850 TH/s, ETH/ETC–20000 MH/s

Calculation: SHA256, Ethash

8 x Nvidia RTX 3090 (includes warranty)

2 x Mining Frame/Shelf

3 x 930W 110–220V fully modular power supplies.

M100 miner:

Hash Rate: BTC 450TH/s, ETH/ETC 2000MH/s

Power: 1400 watts

Calculation: SHA256, Ethash

Connection: Ethernet/Wireless

M200 miner

Hash Rate: BTC 650 TH/s, ETH/ETC 2300 MH/s

Power: 1800 watts

Calculation: SHA256, Ethash

Connection: Ethernet/Wireless

About Mecobit

It was launched in 2015 with the determination to create and demonstrate to the world a solar–powered digital currency mine, and depending on the miner's inclination, Ethash, SHA–256 or Scrypt innovations can be used. The organization says it is the absolute first solar–powered digital currency mining project on Earth. “We need to disrupt the solar charger business by providing more power at a more reasonable value than was recently thought to be the case.” – B. Franci (founder). Based on Chiswick High Road in London, UK, Mecobit has locations in various urban communities around the world, including the US. Additional information about the organization and its projects is available on the organization's website www.mecobit.com

Contact: Ben Lukas, ben.lukas@mecobit.com, 852–3001 1453

MACCO Restructuring Group Leads Successful Efforts to Captain and Transit Semi-Submersible Oil Drilling Rig Across Gulf of Mexico

HOUSTON, Aug. 30, 2022 (GLOBE NEWSWIRE) — MACCO Restructuring Group, a national, middle–market–focused interim leadership and financial advisory firm, recently announced that MACCO Managing Director David Weinhoffer, serving as Chief Restructuring Officer for LaForta – Gesto e Investimentos, Sociedade Unipessoal, Lda., successfully assumed control of and transited La Muralla IV, a sixth generation, semi–submersible oil drilling rig. La Muralla IV is the primary asset of LaForta, which filed a voluntary petition under chapter 11 in the United States Bankruptcy Court for the Southern District of Texas, Houston Division on June 16, 2022. Under Weinhoffer's leadership, the massive drilling rig, capable of operating in 10,000 ft of water and drilling to a 35,000 ft depth, has been successfully towed across the Gulf of Mexico from Tampico, Mexico to Freeport, Grand Bahamas.

MACCO, which has extensive restructuring experience in energy, including both onshore and offshore oil and gas exploration and production, was able to ensure the safe transit of the drilling rig. Weinhoffer led the complex international efforts to assume control of the rig and assure its safety and that of its crew despite numerous operational and regulatory challenges. His deep knowledge of seafaring, marine operations, business restructuring and bankruptcy were central to the successful transit.

La Muralla IV is being readied for a marketing and sale process expected to commence in earnest next month. Under the proposed bid procedures, available at https://cases.stretto.com/LaForta/, Weinhoffer will direct the marketing and sale process, including by soliciting and evaluating bids for La Muralla IV. The proposed bid deadline is October 26, 2022, with sale approval expected 3 weeks later and sale consummation by the end of November. If you are interested in being a bidder for La Muralla IV, please contact Weinhoffer at davidw@macco.group to gain access to the Data Room and schedule an in–person inspection.

LaForta is also advised by Counsel, Rebecca Blake Chaikin, Genevieve M. Graham, and Veronica A. Polnick of Jackson Walker, LLP; Special Corporate Counsel, Jennifer Demarco and Sarah Campbell of Clifford Chance; and Ole' Aagvaard, Project Manager, of ABW Vessel Management, Ltd. The Backstop Lenders are advised by Counsel, Mark Shinderman, Casey Fleck, and Brian Kinney of Milbank, LLP; Michael Warner and Benjamin Wallen of Pachulski, Stang, Ziehl & Jones, LLP; and Kristen Bodden of Maritime Finance Ltd.

Drew McManigle, Founder and CEO of MACCO said, "David and the MACCO La Forta team working collaboratively with legal counsel, accomplished what initially appeared, almost unachievable. He successfully navigated international troubled waters in order to preserve stakeholder's value."


MACCO Restructuring Group, LLC is a national, middle–market focused interim leadership and financial advisory based in Houston with offices in Las Vegas, Denver, Oklahoma City, Wilmington/Philadelphia, and New York City. MACCO's professionals possess real world business experience and have managed and led companies across a wide array of industries while acting as CEOs, CROs, CFOs, Senior Workout Lenders, and Fiduciaries. For more information, please visit: www.macco.group.

Media Contact:
Annie Graf
KCSA Strategic Communications

Company Contact:
Drew McManigle
Cell: (410) 350–1839

Vertex unveils tolling tech designed to ease Tel Aviv road congestion

TEL AVIV, ISRAEL, Aug. 30, 2022 (GLOBE NEWSWIRE) — The Vertex Company, a V2X company (NYSE: VVX), announces a brand–new technology for the proposed Tel Aviv congestion pricing zone. The Optical Detection Intelligent Network, ODIN, is an advanced, compact tolling system that can be deployed to city locations where street–spanning gantries or toll booths are not possible.

ODIN integrates the functionality of multiple different devices from traditional all–electronic tolling systems into a single sensor, making it small enough to fit on a typical city light post. The primary sensor is an ultra–high–resolution camera for image–based tolling, eliminating the need for vehicle transponders.

"The Vertex Company brings engineering excellence and innovative technology integration to tolling projects," said Aileen Amirault, Vice President & General Manger at The Vertex Company. "We provide reliable, high–tech tolling that processes millions of tolling transactions a day at more than 400 locations worldwide."

Congestion zones, also known as cordon pricing, is a form of tolling that charges drivers who drive into and/or within a specific area. It is generally used to manage traffic in dense, congested areas, like city centers.

ODIN was developed and tested on roadways in Canada and the United States and is now approved for congestion zone pricing projects around the world.

"Today's announcement adds a new, attractive option for the Tel Aviv congestion pricing project," said Colleen Murphy–Vincent, Director of Transportation, Technology & Tolling Solutions at The Vertex Company. "Our system provides tolling revenue for our customers without disrupting traffic. ODIN allows vehicles to move at the speed of traffic as we accurately detect, track, classify and image vehicles in all weather and light conditions."

The Vertex Company has more than 25 years of all–electronic tolling experience, serving customers across 10 time zones as they collect more than $2 billion in annual customer transactions. Vertex Systems Israel, an LLC of The Vertex Company, has been a provider for the Cross–Israel Highway, known as Highway 6, since 2001.

The Vertex Company provides vertically integrated turnkey lifecycle support from concept definition, to engineering and manufacturing, through end–of–life support of complex systems. Our offerings include all levels of aviation maintenance, worldwide contractor logistics support, systems engineering and integration, specialized onsite mission execution, high consequence training programs and integrated supply–chain solutions.

In July 2022, Vertex and Vectrus merged to form V2X, a leading provider of critical mission solutions and support to defense clients globally. The company delivers a comprehensive suite of integrated solutions across the operations and logistics, aerospace, training and technology markets to national security, defense, civilian and international clients. The global team of approximately 14,000 employees brings innovation to every point in the mission lifecycle, from preparation, to operations, to sustainment.

For more information on The Vertex Company, visit www.vtxco.com.