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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Dada Nexus Limited Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – DADA

NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Dada Nexus Limited (NASDAQ: DADA) between May 11, 2023 and January 8, 2024, both dates inclusive (the “Class Period”), of the important March 11, 2024 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased Dada securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Dada class action, go to https://rosenlegal.com/submit–form/?case_id=21670 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 11, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Dada revenues from online advertising, marketing services, and operations and support costs were materially overstated; (2) as a result, Dada would need to conduct an independent review to ascertain the financial impact and the scope of suspicious practices that led to overstated revenues and costs; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Dada class action, go to https://rosenlegal.com/submit–form/?case_id=21670 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686–1060
        Toll Free: (866) 767–3653
        Fax: (212) 202–3827
        lrosen@rosenlegal.com
        pkim@rosenlegal.com
        cases@rosenlegal.com
        www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 9033003)

ROSEN, TOP RANKED GLOBAL COUNSEL, Encourages Archer-Daniels-Midland Company Investors to Secure Counsel Before Important Deadline in Securities Class Action – ADM

NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Archer–Daniels–Midland Company (NYSE: ADM) between April 30, 2020 and January 22, 2024, both dates inclusive (the “Class Period”), of the important March 25, 2024 lead plaintiff deadline.

SO WHAT: If you purchased Archer–Daniels–Midland securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Archer–Daniels–Midland class action, go to https://rosenlegal.com/submit–form/?case_id=22028 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 25, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Nutrition segment’s financial reporting and accounting practices did not provide investors with an accurate impression of Archer–Daniels–Midland’s performance and future prospects, including reported operating profits; (2) the Nutrition segment’s accounting practices created a heightened risk of regulatory scrutiny and adverse impacts to Archer–Daniels–Midland’s business; and (3) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Archer–Daniels–Midland’s Nutrition segment and related financial results, growth, and prospects. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Archer–Daniels–Midland class action, go to https://rosenlegal.com/submit–form/?case_id=22028 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 9032969)

ROSEN, TOP RANKED GLOBAL INVESTOR COUNSEL, Encourages Assertio Holdings, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – ASRT

NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Assertio Holdings, Inc. (NASDAQ: ASRT) between March 9, 2023 and November 8, 2023, both dates inclusive (the “Class Period”), of the important March 5, 2024 lead plaintiff deadline.

SO WHAT: If you purchased Assertio securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Assertio class action, go to https://rosenlegal.com/submit–form/?case_id=21676 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 5, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and misleading statements regarding Assertio's business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Assertio’s reliance on Indocin, one of Assertio’s primary pharmaceutical products, to boost its net income was unsustainable given the risk of generic competition; (2) the acquisition of Spectrum Pharmaceuticals, Inc., along with Spectrum’s injection asset Rolvedon, (the “Spectrum Acquisition”) was less valuable than Assertio had represented to investors; (3) accordingly, Assertio had overstated the positive impact the sale of Indocin products and the Spectrum Acquisition were likely to have on Assertio’s profitability; and (4) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Assertio class action, go to https://rosenlegal.com/submit–form/?case_id=21676 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686–1060
        Toll Free: (866) 767–3653
        Fax: (212) 202–3827
        lrosen@rosenlegal.com
        pkim@rosenlegal.com
        cases@rosenlegal.com
        www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 9032966)

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages AlloVir, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – ALVR

NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of AlloVir, Inc. (NASDAQ: ALVR) between March 22, 2022 and December 21, 2023, both dates inclusive (the “Class Period”), of the important March 19, 2024 lead plaintiff deadline.

SO WHAT: If you purchased AlloVir securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the AlloVir class action, go to https://rosenlegal.com/submit–form/?case_id=22018 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 19, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and misleading statements regarding AlloVir’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) the global phase 3 studies of its lead product posoleucel for the prevention of life–threatening viral infections (the “posoleucel Phase 3 Studies”) were unlikely to meet their primary endpoints; (2) as a result, it was likely that AlloVir would ultimately discontinue the posoleucel Phase 3 Studies; (3) accordingly, AlloVir overstated the efficacy and clinical and/or commercial prospects of posoleucel; and (4) as a result, AlloVir’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the AlloVir class action, go to https://rosenlegal.com/submit–form/?case_id=22018 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 9032964)

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Future FinTech Group Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – FTFT

NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Future FinTech Group Inc. (NASDAQ: FTFT) between March 10, 2020 and January 11, 2024, both dates inclusive (the “Class Period”), of the important March 18, 2024 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased Future FinTech securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Future FinTech class action, go to https://rosenlegal.com/submit–form/?case_id=21786 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 18, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Defendant Shanchun Huang (“Huang”) manipulated the price of Future FinTech stock; (2) Defendant Huang and Future FinTech lied to the Securities and Exchange Commission about the nature of Defendant Huang’s ownership of Future FinTech stock; (3) Future FinTech understated its legal risk; (4) Future FinTech did not disclose the unlawful measures Defendant Huang took to prop up the price of its stock; and (5) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Future FinTech class action, go to https://rosenlegal.com/submit–form/?case_id=21786 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40thFloor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 9032951)

Girls Just Want to Have Funds!

Asian women at a meeting. Credit: Unsplash/Christina @ wocintechchat.com

By Sara Danzeo and Elena Mayer-Besting
BANGKOK, Thailand, Feb 6 2024 – In the bustling financial hub of Singapore, Rhea See, an early-stage fund manager, leads an accelerator platform dedicated to empowering women in technology.

She firmly believes that investing in women transcends the conventional paradigm of merely ‘doing good.’ For Rhea, it represents a strategic move towards smart economics and game-changing innovation.

“Many still view investing in women as a niche, impact-only endeavor and I want to shatter this stigma. Investing in women is not just about doing good, but it’s about smart economics and game-changing innovation; it’s about unlocking untapped potential and driving technological advancement and profitable returns,” shares Rhea.

As of July 2023, women accounted for only 17 per cent of all decision-makers at venture investors headquartered in South-East Asia. About 67 per cent (vs. 77 per cent in 2022) of regional investors do not have a woman in an investment decision-making role.

Evidence shows that diversity in venture capital firms not only fosters creativity and alternative viewpoints but also positively impacts financial performance. A study by Paul Gompers, a professor at Harvard Business School, found that venture capital firms with more diversity among their partners tend to be more profitable.

The study revealed that firms with at least one female partner saw improved financial performance, with returns increasing by approximately 10 per cent. This translates into a significant economic impact, as the median venture capital fund return moves from around 14 – 15 per cent to 16 – 17 per cent with the inclusion of female partners.

Additionally, having women as partners increased the success rate of startups supported by these firms. This research suggests that gender diversity generates alternative perspectives that can uncover new investment opportunities and help avoid blind spots

Starting a fund is no small feat. It requires a commitment of at least 15 years, a factor that might deter many. Additionally, the venture capital industry, particularly for women-led funds, embodies a complex mix of long-term relationship building, navigating biases and strategic networking.

Considering the demanding nature of the role and the need for substantial family support and background education, this may present significant obstacles for women in the Asia-Pacific region, who are traditionally considered the main caretakers in the family.

Women-led funds raised less than 2 per cent of the $166 billion raised by venture firms globally in 2022, indicating the significant gap that still exists.

Acknowledging the unconscious bias and additional hurdles that women fund managers face in the region to raise funds, 2X Global with the support of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) under the Catalyzing Women’s Entrepreneurship Programme, supported by Global Affairs Canada, together with Australian Aid, launched an introductory and acceleration programme for female-led or gender-balanced fund managers with gender smart investing strategies across the Asia-Pacific region.

The 2XI GP Sprint, which began in September 2023, is providing tailored coaching, practical exercises and network facilitation for GPs with the aim of accelerating their progress towards achieving their first close.

In November 2023, in Singapore, selected participants of the GP Sprint presented their investment thesis to LPs. During the presentations, the determination, qualifications and expertise of these women from the region were showcased.

These women are not just poised to become exceptional wealth managers; their investment theses, often environmentally and socially conscious, suggest a transformative impact on the region through strategic capital allocation.

The involvement of women in the investment field is more than a matter of equity; it makes business sense, while emerging as a strategic necessity for the sustainable and holistic growth of the investment landscape.

The Catalyzing Women Entrepreneurship programme by ESCAP has forged strategic partnerships with organizations such as 2X Global to empower female capital allocators and pave the way for a more inclusive and prosperous future in the Asia-Pacific investment landscape.

Sara Danzeo is Partnerships Specialist, Trade, Investment and Innovation Division, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Elena Mayer-Besting is Programme Management Officer, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

IPS UN Bureau

 


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Pacific Green targets 12GWh battery energy storage capacity across four global markets

  • Company doubles down on BESS as a priority focus in 2024, having expanded its global pipeline to 6GWh in 2023.
  • Australia and Italy are hotspots for significant expansion of origination portfolio, alongside entry into Polish market.
  • Further expansion of UK portfolio, as pioneering Richborough project enters first full year of operation and construction is underway at huge Sheaf project.

DOVER, DE, Feb. 06, 2024 (GLOBE NEWSWIRE) —  Global energy storage and environmental technology company, Pacific Green Technologies, Inc. (“Pacific Green”, OTCQB: PGTK) is targeting more than 12GWh of battery energy storage capacity across four global markets.

Having achieved rapid pipeline growth to 6GWh in 2023 – taking scale positions in the emerging Italian and Australian energy storage markets, as well as moving its first project into operation at Richborough, UK – the company is doubling down on utility–scale battery energy storage systems (BESS) as a priority focus for 2024 and beyond.

Australia and Italy remain hotspots for significant further pipeline expansion, with the company also seeking to recharge its origination portfolio in the maturing UK market, as well as taking its first steps into the nascent Polish market.

Pacific Green is targeting a minimum of 1GWh capacity in each market it enters. Its targets for 2024 include:

UK – operation / development / origination

Recent strategic milestones have included commissioning the 99.8MWh Richborough Energy Park, achieving financial close at neighbouring 373.5MWh Sheaf Energy Park – one of the first and largest non–recourse debt financed BESS sites in the world, and transferring ownership of both projects to energy transition fund Sosteneo.

2024 priorities include progressing construction of Sheaf Energy Park ahead of its July 2025 commissioning date and further expanding the UK origination portfolio.

Australia – development / origination

Having last year secured land exclusivity agreements for two major BESS projects in Southern Australia with 3GWh of storage capacity, Pacific Green aims to more than double its greenfield origination pipeline to 6GWh+.

Pacific Green’s Australian team is targeting financial close on its first 500MWh of storage capacity this year, ahead of the start of commercial operations in 2026.

Italy – development / origination

Having acquired a majority shareholding in five battery energy parks in Italy from originator Sphera Energy in 2023, totalling 2.8GWh capacity, Pacific Green’s team in Italy is targeting financial close on its first 1,500MWh of storage capacity this year, ahead of the start of commercial operations in 2026.

The team also aims to further expand its origination portfolio to almost 5GWh in total.

Poland – origination

Pacific Green intends to enter the nascent Polish market in 2024, targeting an initial origination pipeline of approximately 400MWh storage capacity.

Scott Poulter, Pacific Green’s Chief Executive, said:

“We’re focused on rolling out next–generation battery energy parks at scale and at speed – drawing on a unique combination of technology, project development and project finance expertise, alongside relationships cultivated with trusted partners throughout the BESS supply chain.

“Our work in 2023 demonstrated the speed and efficiency with which our team can bring forward vital new BESS assets and deliver significant value to our shareholders – and we intend to continue building the pace in 2024 and beyond.

“The role of battery storage in advancing the energy transition is no longer debatable – but to achieve the momentous growth that’s needed in operational capacity, the market needs to double down on its efforts to originate workable projects and commercialise and deploy the technology efficiently.  We’re laser focused on building the pipeline, the team and the international relationships needed to make a real difference in this sector.”

–ENDS–

  

About Pacific Green Technologies, Inc.:

Pacific Green is a global energy storage and environmental technology company, on a mission to advance the transition to sustainable energy solutions.

The business is focused on rapidly building a global portfolio of utility–scale battery energy storage systems (BESS), with a current total of 6GWh of energy storage capacity in development, construction or operation.

Pacific Green’s team brings together extensive technology, project development and project finance expertise – having commercialised numerous pioneering technologies, and steered major international energy and infrastructure projects successfully through financing and development.

This in–house expertise is complemented by strategic relationships cultivated with trusted partners at all levels of the global environmental supply chain – providing access to the very best technology and manufacturing capabilities on offer, alongside internationally respected financial institutions and project partners.

For more information, visit: www.pacificgreen.com

Notice Regarding Forward–Looking Statements:

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

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


GLOBENEWSWIRE (Distribution ID 9032212)

Moimuna Nursing Institute Ushers Hope for Vulnerable Rural Girls in Bangladesh

After passing her secondary school certificate (SCC) in 2019, Sweety Akter went door-to-door to collect money to enroll in a college, but she wasn’t successful. Born to an extremely poor family in Fultala village under Baliadangi upazila in Thakurgaon district, Akter saw her dream of studying fading as she was unable to enroll in a […]

Mundo Verde Climate Leads Groundbreaking Transaction in the Global Voluntary Carbon Market

Geneva, Feb. 05, 2024 (GLOBE NEWSWIRE) — Mundo Verde Climate, a global player in climate finance and climate change risk management advisory, announced its pivotal role in one of the most significant transactions of 2023 within the global voluntary carbon market. The company, dedicated to forging a sustainable future for generations, continues to champion green technologies and nature–based solutions in the race to Net Zero. 

In a significant stride towards achieving this goal, Mundo Verde Climate has entered into a strategic arrangement with Biotrend Enerji, the most prominent player in the Turkish integrated waste management, waste–to–energy and circular plastics market. This collaboration marks a milestone in the pursuit of mobilizing finance towards new climate change mitigation technologies.  

Mundo Verde Climate took an instrumental role in developing the voluntary carbon units from Biotrend’s waste to energy activities through a certification and verification process under VERRA.  The transaction, covering over 2.4 million tons of CO2 in total, refers to voluntary carbon credits for release on the international market. Companies can acquire the credits to offset their emissions from unrelated activities.  

The deal promises to impact the global voluntary carbon market substantially. Mundo Verde Climate, together with Biotrend, hopes that the initiative will provide much–needed carbon credits to satisfy demand in the voluntary offsetting market and inspire others to advance their projects and stimulate the market. 

Reflecting on the efforts of governments at COP 28 to invigorate the global trade in voluntary carbon credits, Ms Gediz Kaya, Managing Partner at Mundo Verde Climate, expressed enthusiasm about the Biotrend arrangement, stating:  
 
“According to Climate Policy Initiative, the amount of financing needed to be mobilized towards climate mitigation technologies by 2030 is $4.3 trillion annually and 21% of that finance is mobilized right now. So we need to take action and we need to decarbonize as fast as possible. This collaboration exemplifies our dedication to fostering international cooperation and collaboration of key industries in pricing carbon so that we can mobilize finance in the fight against climate change. By joining forces with Biotrend, we aim to catalyse transformative change and encourage companies in the energy sector, and other industries, to adopt a sustainable approach to managing their emissions.” 

The COP28 summit in the United Arab Emirates discussed a number of important factors related to standards and integrity around carbon crediting and recognized the important role of voluntary carbon markets in addressing climate change. Mundo Verde Climate underscores the urgency of global collaboration to address climate challenges and calls for renewed efforts, partnerships, and commitments to mobilize finance. This is vital for accelerating the transition to a low–carbon economy.

Biotrend made a related public disclosure about certified carbon crediting on 8 November 2023, in its 9–month financial statement. 

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GLOBENEWSWIRE (Distribution ID 9032182)

Landlocked Developing Countries Conference to Address Development

Third UN Conference of Landlocked Developing Countries will be an opportunity to address the issues these countries face.

Third UN Conference of Landlocked Developing Countries will be an opportunity to address the issues these countries face.

By IPS Correspondent
UNITED NATIONS, Feb 6 2024 – Landlocked developing countries need greater support from the international community so that they are no longer left behind when it comes to progressing with the SDGs, says the UN High Representative of the Least Developed Countries.

The Third UN Conference of Landlocked Developing Countries (LLDC3) is set to be hosted in Kigali, Rwanda, in June. A preparatory committee for the conference has been established and convened its first meeting on Monday. 

The overarching theme of the conference, “Driving Progress through Partnerships,” is expected to highlight the importance of support from the global community in enabling LLDCs to meet their potential and achieve the SDGs. The conference invites the participation of multiple stakeholders, including heads of state and government, the private sector, and civil society. Several senior leaders in the UN system, including Secretary-General António Guterres, are expected to attend the LLDC3 Conference.

Thirty-two countries are classified as LLDCs, 17 of which are also classified as Least Developed Countries (LDCs). Sixteen are in Africa, and the remaining are located across Asia, Europe, and South America. This year will mark the first time that the LLDC Conference will be hosted in Africa.

Rabab Fatima, Under Secretary-General and High Representative of the Office for the Least Developed Countries, and the Secretary-General of the LLDC3 Conference, remarked that this conference would be a “once-in-a-decade opportunity” for the global community to address the needs of the LLDCs in order to “ensure that nobody is left behind.”

“The 32 landlocked developing countries are grappling with unique challenges due to their geographical and structural constraints and lack of integration into world trade and global value chains. Their situation has been further exacerbated by the lingering effects of the pandemic, climate change, and conflict,” she said.

The lack of direct access to coastal ports means that LLDCs rely on transit countries to connect them with international markets. This can lead to high trade costs and delays in the movement of goods. In other cases, many of the LLDCs’ transit neighbors are also developing countries with their own economic challenges. According to Fatima, the average cargo travel time for LLDCs was twelve days, compared to seven days for transit countries.

As a result of the slow progress in development, twenty-eight percent of people in LLDCs live in poverty. At least a third of the people are at a high risk of or already live with some form of debt distress, and fifty-eight percent of people deal with moderate to severe food insecurity.

Enkhbold Vorshilov, Permanent Representative of Mongolia to the UN, noted that the conference would be a “critical juncture” for the LLDCs. He also serves as the co-chair of the preparatory committee along with the Permanent Representative of Austria. He added, “Despite our varied cultural and economic structures, we share common challenges that impede our development and economic growth.”

The Preparatory Committee will negotiate the details of the conference’s outcome document, which has been prepared to “encapsulate the challenges and aspirations of the LLDCs,” according to Gladys Mokhawa, Permanent Representative for Botswana and the Chair of the Global Group of Landlocked Developing Countries. Mokhawa expressed that the document has so far received general support from member states and that the final draft would be comprehensive and committed to addressing the challenges that LLDCs face “that align with their specific needs and aspirations.”

“A vision is clear: to transform the geographical challenges and to ensure that our landlocked status is nothing more than a detail of geography,” she said. “We believe that our collective efforts can and will make a difference.”

“Our goal is not merely to draft a document but to build positive, genuine partnerships that will empower landlocked developing countries to overcome their challenges and achieve sustainable prosperity,” said Vorshilov. He added that, along with support from neighboring transit countries, cooperation from development partners and financial institutions would be important to mobilize the resources needed to support the LLDCs.

The document is intended to serve as a guideline for the LLDCs for the next decade and will touch on several areas of interest. In addition to addressing transport and trade, it will focus on emerging issues, such as science, technology, and innovation, and improving capacity and resilience against issues arising from climate change.

Earlier meetings, including the first meeting of the committee, have seen delegations express solidarity with the LLDCs and support for the agenda of the upcoming conference. Ambassador Stavros Lambrinidis, Permanent Representative of the European Union Delegation to the UN, stated that the development challenges call for “more efficient allocation of financial resources on the path toward the SDGs” and that an “essential element” of their partnership would be the development of connections and transport corridors for the benefit of all peoples.

Speaking on behalf of the Africa Group, Ambassador Marc Hermanne Araba of Benin noted that Africa has faced the brunt of the challenges faced by the LLDCs and their neighboring transit countries. He added that the present moment was an opportunity to “chart a transformative agenda for the LLDCs,” and therefore it is important for the global community to reaffirm its’ commitment to address the LLDCs’ challenges together to “ensure that these countries are not left behind.”.

Fatima welcomed the media as a “key partner,” through which the voices of LLDCs would have a platform, and to bridge the gap between the conference and those communities who will be most affected by the outcomes by sharing their perspectives.

IPS UN Bureau Report

 


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