LONDON, UK: redT energy plc, the energy storage solutions company, announced that one of its 300kWh flow machines, situated at a customer site in Southern England, has successfully gained pre-qualification status to provide Dynamic Firm Frequency Response (FFR) services to the UK grid following testing conducted by leading UK aggregator, Open Energi. Dynamic FFR is…
Vodafone to create Europe’s largest tower company
LONDON: Having secured network sharing agreements in several key markets, Vodafone Group Plc announced Friday that it is proceeding with plans to monetise a substantial proportion of its European tower infrastructure during the next 18 months, including the previously announced intention to combine Vodafone Italy’s passive tower infrastructure with Inwit S.p.A. Vodafone has recently announced…
Pakistan’s overall urea sales grow 5pc to 2.87 million tons
KARACHI: Urea sales grew five percent year-on-year to 2.87 million tons in the last six months as buyers rushed to pile up stocks ahead of price hike and rainfalls boosted its demand for summer crops, a brokerage reported on Thursday. Urea sales stood at 2.72 million tons in the corresponding period a year earlier. Analyst…
SGS Pakistan for collective efforts to promote standardization of products
KARACHI: Managing Director of SGS Pakistan Abdul Razzak Lakhani has stressed that the business and industrial community of Karachi Chamber of Commerce & Industry (KCCI) must work collectively with SGS Pakistan to promote the standardization of products both either being produced and imported in Pakistan or being exported to other countries which would certainly ensure…
Nissan reports first-quarter results for fiscal year 2019
YOKOHAMA, JAPAN: Nissan Motor Co., Ltd. announced financial results for the three-month period ending June 30, 2019. In the first quarter of the fiscal year, Nissan generated an operating profit of 1.6 billion yen on net revenues of 2.37 trillion yen, equivalent to an operating margin of 0.1%. First quarter net income1 fell by 94.5%…
Mirai Creation Fund-II invests in VISITS Technologies
TOKYO: SPARX Group Co., Ltd. announced that its Mirai Creation Fund-II has invested in VISITS Technologies, a supporter of innovation generation primarily through its patented technology, which it calls “Consensus Intelligence technology” (CI technology), an algorithm for achieving consensus. With this round of fundraising, the company plans to accelerate its business development and bolster the…
ST Engineering secures contracts worth $1.5bn for 2Q2019
SINGAPORE: Singapore Technologies Engineering Ltd (ST Engineering), a global technology, defence and engineering group has announced that its Aerospace and Electronics sectors have secured new contracts with a combined value of about $1.5 billion for the second quarter (2Q) of 2019. This is in addition to the $1.0 billion contract announced on 24 April for…
NSL OilChem opens S$40mn industrial wastewater treatment complex
The S$40 million wastewater treatment complex is the company’s second treatment plant and will have a capacity of 1,000 cubic meter per day – one of the largest in Singapore. “The NSL OilChem Waste Management’s industrial wastewater treatment complex will be an important facility in Singapore’s growing chemicals industry where there is demand for increasingly…
Sunpower secures RMB 30mn Manufacturing and Services tender
SINGAPORE: Sunpower Group Ltd., an environmental protection solutions specialist with a leading edge in anti-pollution investment projects, has won Manufacturing and Services (M&S) tender worth over RMB 30 million from new customer Fujian Gulei Petrochemical Co., Ltd. Fujian Gulei Petrochemical is a large-scale chemical company, a joint venture between Fujian Petrochemical Co, Ltd and a…
UDC signs agreement to finance development of Gewan Island
DOHA, QATAR: United Development Company (UDC), a leading Qatari shareholding company and the master developer of The Pearl-Qatar and Gewan Islands, has signed an agreement with Qatar National Bank (QNB) and The Commercial Bank to finance development of Gewan Island project with a credit ceiling of QR 1.25 trillion. The signing of this agreement comes…
Total will develop the LNG market in Benin
PARIS–(BUSINESS WIRE)– Total, the Republic of Benin and the Société Béninoise d’Energie Electrique (SBEE) have signed the Gas Supply Agreement and the Host Government Agreement for the development of LNG market, which will include a Liquefied Natural Gas (LNG) import floating terminal and the supply of up to 0.5 million tonnes per annum (Mtpa) of…
redT Energy proposes merger with Avalon Battery
LONDON: redT energy plc, the energy storage company, is pleased to announce that it has agreed to outline terms for a proposed merger with Avalon Battery Corporation. The parties have signed a non-binding Memorandum of Understanding (MOU) and have plans for the injection of significant new funding as outlined further below. The merger, if approved…