Monthly Archives: April 2023

BAE Systems Awarded $537 Million Contract for C4I Services on Surface Ships

(IN BRIEF) BAE Systems has been awarded a contract by U.S. Naval Information Warfare Systems Command to engineer command, control, communications, computers, and intelligence (C4I) services on surface ships. The eight-year indefinite delivery, indefinite quantity contract is valued at $537 … Read the full press release

Škoda Auto Commits to E-Mobility Transformation with Battery System Production Milestone

(IN BRIEF) Škoda Auto has announced the production of 500,000 battery systems at its plant in Mladá Boleslav, which are mounted in MEB vehicles and plug-in hybrid models by Volkswagen Group brands, including Škoda, Volkswagen, Audi and SEAT. The milestone … Read the full press release

Volkswagen Group Technology Focuses on Scalability and Competitiveness in E-Mobility

(IN BRIEF) Volkswagen Group Technology has announced that it contributed around 40% of the total value added, including a new electric drive generation, for Volkswagen’s new flagship ID.7. The highly efficient drive generation, called APP550, has higher performance and improved … Read the full press release

Vattenfall’s Focus on Fossil-Free Power Generation Pays Off

(IN BRIEF) Swedish energy company Vattenfall has reported stable financial development for the first quarter of 2023. The company’s focus on investing in fossil-free power generation and upgrading the electricity grid has paid off, as falling electricity prices and a … Read the full press release

Elvira Tölkes brings 30 years of automotive industry experience to Volkswagen Passenger Cars’ Quality Assurance department

(IN BRIEF) Volkswagen Passenger Cars has announced that Elvira Tölkes will take over as the Head of Quality Assurance from May 1, 2023, reporting to CEO Thomas Schäfer. Tölkes has over 30 years of experience in product development, production, and … Read the full press release

Glencore joins Alunorte, MRN joint ventures with Hydro after stake acquisition

(IN BRIEF) Glencore has agreed to acquire a 30% stake in Alunorte and a 45% stake in Mineracão Rio do Norte from Norsk Hydro for a combined equity value of approximately USD 775 million. Completion of the transaction is expected … Read the full press release

CIIP receives €50m funding from EIB to enhance water services in Marche, Italy

(IN BRIEF) The European Investment Bank (EIB) has granted €50 million to CIIP, the integrated water services provider in the provinces of Ascoli Piceno and Fermo, to improve water and wastewater services in Marche, benefiting over 414,000 people. The funding … Read the full press release

EIB and Aquafin sign €200m deal to finance climate adaptation and mitigation in Flanders

(IN BRIEF) The European Investment Bank (EIB) and wastewater treatment company Aquafin have signed a €200 million financing contract to support 150 climate change mitigation and adaptation projects in Flanders. The funding will support the separation of stormwater and wastewater, … Read the full press release

Cultural diversity celebrated as EBRD announces Literature Prize 2023 finalists

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has announced the finalists for the EBRD Literature Prize 2023, which celebrates literary expression and cultural diversity in countries where the Bank operates. The three shortlisted works are Mister N … Read the full press release

EBRD loan to fund two residential rental projects in Warsaw to address housing shortage

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has approved a loan equivalent to €50 million to NREP Nordic Strategies Fund IV’s Polish subsidiaries for two residential rental projects in Warsaw. The loan includes an uncommitted tranche for … Read the full press release

Atea ASA receives €50m financing from EIB to enhance data security and support data sovereignty in EU

(IN BRIEF) IT infrastructure company Atea ASA has secured a €50 million loan from the European Investment Bank to improve and expand its hosting facilities in EU countries, with a focus on improving data security and supporting the European goal … Read the full press release

Singapore’s Methanol Bunkering Working Group to Develop Technical Reference with DNV’s Expertise

(IN BRIEF) Classification society DNV has joined a working group on methanol bunkering managed by the Standards Development Organisation at Singapore Chemical Industry Council (SCIC-SDO). The group aims to develop a Technical Reference for methanol bunkering in Singapore, the world’s … Read the full press release

Solvay signs license agreement for hydrogen peroxide megaplant in China

(IN BRIEF) Solvay, a global leader in specialty chemicals, has signed a license agreement with Guangxi Chlor-Alkali Chemical (GHCAC) to support the construction of a hydrogen peroxide megaplant at Qinzhou in China. The megaplant will complement GHCAC’s existing propylene oxide … Read the full press release

Kosovo: Europe’s Newly Emerging Tech Economy

(IN BRIEF) The EU Senate-Kosovo Economic Summit was held in London on 20 April, where selected guests of entrepreneurs, industrialists, and global investors attended a closed-door event. The summit aimed to transform Kosovo’s economic position and strengthen its ties within … Read the full press release

Stora Enso’s Trayforma BarrPeel offers sustainable packaging solution for fresh food

(IN BRIEF) Stora Enso has launched Trayforma BarrPeel, a new board material for vacuum skin packs, which allows packaging of fresh food on recyclable paperboard trays. The solution reduces plastic to less than 10% of the tray, and is made … Read the full press release

Experian Launches New Cloud-Based Fraud Solution Powered by Adaptive Machine Learning

(IN BRIEF) Experian has launched a new cloud-based fraud solution called Aidrian, powered by adaptive machine learning, to help businesses prevent fraud without impacting customer experience. It combines a customized machine learning model with device fingerprinting to classify transactions with … Read the full press release

HRH The King invites Samaritans Scotland volunteer to prestigious garden party

(IN BRIEF) Deborah Hughes, a Samaritans Scotland volunteer, has been invited to a garden party hosted by HRH The King at the Palace of Holyroodhouse. Deborah provides emotional support to callers by working shifts around her full-time job in financial … Read the full press release

Collaboration between Infineon and Schweizer promises to improve electric vehicle efficiency

(IN BRIEF) Infineon Technologies and Schweizer Electronic are working on a solution to embed Infineon’s 1200 V CoolSiC™ chips directly onto printed circuit boards (PCB) in order to increase the efficiency of chips based on silicon carbide (SiC). The companies … Read the full press release

Barry Callebaut joins the Sustainable Coconut Partnership to promote responsible production

(IN BRIEF) Barry Callebaut, a leading chocolate manufacturer, has announced its participation as a founding member of the Sustainable Coconut Partnership, an industry platform aimed at promoting responsible coconut production and market transformation at scale. The Sustainable Coconut Partnership seeks … Read the full press release

Rheinmetall’s Pierburg reaches fuel cell technology milestone with new order

(IN BRIEF) Rheinmetall’s Sensors and Actuators division has secured a contract to supply over 150,000 HRB 1800 hydrogen recirculation blowers, worth a mid-double-digit million-euro range, to a new customer for use in buses and trucks. The hydrogen recirculation blowers improve … Read the full press release