New research harnesses AI and satellite imagery to reveal the expanding footprint of human activity at sea

Study reveals 75 percent of the world’s industrial fishing vessels are hidden from public view

WASHINGTON, D.C., Jan. 03, 2024 (GLOBE NEWSWIRE) — A new study published today in the journal Nature offers an unprecedented view of previously unmapped industrial use of the ocean and how it is changing.

The groundbreaking study, led by Global Fishing Watch, uses machine learning and satellite imagery to create the first global map of large vessel traffic and offshore infrastructure, finding a remarkable amount of activity that was previously “dark” to public monitoring systems.

The analysis reveals that about 75 percent of the world’s industrial fishing vessels are not publicly tracked, with much of that fishing taking place around Africa and south Asia. More than 25 percent of transport and energy vessel activity are also missing from public tracking systems.

A new industrial revolution has been emerging in our seas undetected—until now,” said David Kroodsma, director of research and innovation at Global Fishing Watch and co-lead author of the study. “On land, we have detailed maps of almost every road and building on the planet. In contrast, growth in our ocean has been largely hidden from public view. This study helps eliminate the blind spots and shed light on the breadth and intensity of human activity at sea.”

Researchers from Global Fishing Watch, the University of Wisconsin-Madison, Duke University, UC Santa Barbara and SkyTruth analyzed 2 million gigabytes of satellite imagery spanning 2017-2021 to detect vessels and offshore infrastructure in coastal waters across six continents where more than three-quarters of industrial activity is concentrated.

By synthesizing GPS data with five years of radar and optical imagery, the researchers were able to identify vessels that failed to broadcast their positions. Using machine learning, they then concluded which of those vessels were likely engaged in fishing activity.

“Historically, vessel activity has been poorly documented, limiting our understanding of how the world’s largest public resource—the ocean—is being used,” said co-lead author Fernando Paolo, senior machine learning engineer at Global Fishing Watch. “By combining space technology with state-of-the-art machine learning, we mapped undisclosed industrial activity at sea on a scale never done before.”

While not all boats are legally required to broadcast their position, vessels absent from public monitoring systems, often termed “dark fleets,” pose major challenges for protecting and managing natural resources. Researchers found numerous dark fishing vessels inside many marine protected areas, and a high concentration of vessels in many countries’ waters that previously showed little-to-no vessel activity by public monitoring systems.

“Publicly available data wrongly suggests that Asia and Europe have similar amounts of fishing within their borders, but our mapping reveals that Asia dominates—for every 10 fishing vessels we found on the water, seven were in Asia while only one was in Europe,” said co-author Jennifer Raynor, assistant professor of natural resource economics at the University of Wisconsin-Madison. “By revealing dark vessels, we have created the most comprehensive public picture of global industrial fishing available.”

The study also shows how human activity in the ocean is changing. Coinciding with the COVID-19 pandemic, fishing activity dropped globally by about 12 percent, with an 8 percent decline in China and a 14 percent drop elsewhere. In contrast, transport and energy vessel activity remained stable.

Offshore energy development surged during the study period. Oil structures increased by 16 percent, while wind turbines more than doubled. By 2021, turbines outnumbered oil platforms. China’s offshore wind energy had the most striking growth, increasing ninefold from 2017 to 2021.

“The footprint of the Anthropocene is no longer limited to terra firma,” said co-author Patrick Halpin, professor of marine geospatial ecology at Duke University. “Having a more complete view of ocean industrialization allows us to see new growth in offshore wind, aquaculture and mining that is rapidly being added to established industrial fishing, shipping and oil and gas activities. Our work reveals that the global ocean is a busy, crowded and complex industrial workspace of the growing blue economy.”

The study highlights the potential of this new technology to tackle climate change. Mapping all vessel traffic will improve estimates of greenhouse gas emissions at sea, while maps of infrastructure can inform wind development or aid in tracking marine degradation caused by oil exploration.

“Identifying offshore infrastructure is critical for understanding offshore energy development impacts and trends, and is crucial data for our work to detect marine pollution events and hold responsible parties to account,” said co-author Christian Thomas, a geospatial engineer at SkyTruth.  

The open data and technology used in the study can help governments, researchers and civil society to identify hotspots of potentially illegal activity, determine where industrial fishing vessels may be encroaching on artisanal fishing grounds, or simply better understand vessel traffic in their waters.

“Previously, this type of satellite monitoring was only available to those who could pay for it. Now it is freely available to all nations,” concluded Kroodsma. “This study marks the beginning of a new era in ocean management and transparency.”

The study was made possible thanks to the generous support of Bloomberg Philanthropies, National Geographic Pristine Seas and Oceankind, and our technology partner, Google. As an awardee of The Audacious Project, a collaborative funding initiative that is catalyzing social impact on a grand scale, Global Fishing Watch is able to further the application of this innovative work.

Notes to the editor:

  • Download supporting data visualizations and figures from the paper here: Media kit
  • Download the data at: https://globalfishingwatch.org/datasets-and-code
  • Data providers: The co-authors of the study wish to acknowledge the contribution from the following technology and data providers; AIS: Spire, ORBCOMM; Radar and optical imagery: European Space Agency (ESA); and Computing resources: Google / Earth Engine.

Global Fishing Watch is an international nonprofit organization dedicated to advancing ocean governance through increased transparency of human activity at sea. By creating and publicly sharing map visualizations, data and analysis tools, we aim to enable scientific research and transform the way our ocean is managed. We believe human activity at sea should be public knowledge in order to safeguard the global ocean for the common good of all.

Attachments

Sarah Bladen
Global Fishing Watch
+44 79 20333832
sarah.bladen@globalfishingwatch.org

Lisa Tossey
Global Fishing Watch
+1 302 4486638
lisa.tossey@globalfishingwatch.org

GlobeNewswire Distribution ID 9012061

CIP and Avangrid Announce First Power from Vineyard Wind 1

Developers complete early-stage commissioning work to deliver first-ever power from offshore wind to Massachusetts

Vineyard Wind 1 Turbine

A GE Haliade-X Turbine Stands in the Vineyard Wind 1 Project Area South of Martha’s Vineyard. Photo Credit: Worldview Films

BOSTON, Jan. 03, 2024 (GLOBE NEWSWIRE) — Copenhagen Infrastructure Partners (CIP), a global leader in greenfield renewable energy investments, and Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today announced that power from the Vineyard Wind project was delivered to the New England grid for the first time. As part of the initial commissioning process, at 11.52 pm on Tuesday, January 2, 2024, one turbine delivered approximately five megawatts of power, with additional testing expected to happen both on and offshore in the coming weeks. The project expects to have five turbines operating at full capacity early in 2024.

“This is a historic moment for the American offshore wind industry,” said Massachusetts Governor Maura Healey. “Soon, Vineyard Wind will be producing power equivalent to over 400,000 Massachusetts households. This is clean, affordable energy made possible by the many advocates, public servants, union workers, and business leaders who worked for decades to accomplish this achievement. As we look ahead, Massachusetts is on a path toward energy independence thanks to our nation-leading work to stand up the offshore wind industry.”

“This truly is a milestone for offshore wind and the entire renewable industry in North America. For the first time we have power flowing to the American consumers from a commercial-scale wind project, which marks the dawn of a new era for American renewables and the green transition,” said Tim Evans, Partner at CIP, and Head of North America. “By delivering first power, we have broken new ground and shown a viable path forward with power that is renewable, locally produced, and affordable. Much of the credit for this milestone must go to our local partners, labor leaders and the project’s skilled union workforce, and local communities from New Bedford to Barnstable.”

“2023 was a historic year defined by steel in the water and people at work. Today, we begin a new chapter and welcome 2024 by delivering the first clean offshore wind power to the grid in Massachusetts,” said Avangrid CEO Pedro Azagra. “We’ve arrived at a watershed moment for climate action in the U.S., and a dawn for the American offshore wind industry. As we build on this tremendous progress and work to deliver the full capacity of this historic project, we continue to stand proudly with all the partners that made this achievement possible, including the Biden Administration and the Healey-Driscoll Administration.”

Power from the project interconnects to the New England grid in Barnstable, transmitted by underground cables that connect to a substation further inland on Cape Cod. Once completed, the project will consist of 62 wind turbines generating 806 Megawatts, enough to power more than 400,000 homes and businesses in Massachusetts.

Vineyard Wind 1 is jointly owned by CIP through its flagship fund, CI II and III and Avangrid. The project is being developed and constructed by Avangrid and Vineyard Offshore, CIP’s affiliated development company working on U.S. offshore projects. In August 2022, Avangrid signed an agreement to assume responsibility as the operations and maintenance services provider for Vineyard Wind 1 once the project achieves commercial operations.

“I congratulate Vineyard Wind on this important, hard-won milestone, demonstrating yet again that offshore wind in America is real, and that the Port of New Bedford is well-suited to support the industry,” said New Bedford Mayor Jon Mitchell. “This is a great way to kick off 2024.”

From the outset of this project, Vineyard Wind recognized the importance of building and supporting a workforce of local, highly skilled, and diverse tradespeople. The valuable collaboration with union leadership on this project is a prime example of how this new industry can be a responsive member of the communities it serves, ensuring accessible and family-sustaining careers.

Vineyard Wind began offshore construction in late 2022, achieved steel-in-the-water in June, and completed the nation’s first offshore substation in July. Construction flows through the New Bedford Marine Commerce Terminal. In July 2021, Vineyard Wind signed the first Project Labor Agreement for an offshore wind project in the United States, which outlined the creation of 500 union jobs through the project. On December 14, 2023, project shareholders announced that Vineyard Wind 1 has delivered nearly double of its commitment through the PLA by creating 937 union jobs through two years of construction.

An 806-megawatt project located 15 miles off the coast of Martha’s Vineyard, Vineyard Wind will generate electricity for more than 400,000 homes and businesses in the Commonwealth of Massachusetts, create 3,600 Full-Time Equivalent (FTE) job years, save customers $1.4 billion over the first 20 years of operation, and is expected to reduce carbon emissions by more than 1.6 million metric tons per year, the equivalent of taking 325,000 cars off the road annually.

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages 12 funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com

About Avangrid
Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States.

Avangrid employs more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, Avangrid ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2023 for the fifth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

Media Contacts:

CIP
Oliver Routhe Skov, Head of Media Relations
orsk@cip.com
+45 3054 1227

Avangrid
Craig Gilvarg, Director of External Communications
craig.gilvarg@avangrid.com
+1 (857) 998-1130

Vineyard Offshore
Andrew Doba, Director of Communications
adoba@vineyardoffshore.com
+1 (617) 362-3872

Investor relations:
Thomas Kønig, Partner – Investor Relations
tkon@cip.com
Phone: +45 7070 5151

Charlotte Ancel, Vice President, Investor Relations
Charlotte.ancel@avangrid.com
+1 (802) 777-7800

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/603d4051-fc97-4f98-9528-8e810bef1d17

GlobeNewswire Distribution ID 1000907040

Harris extends its presence in Latin America with the acquisition of Modyo, leaders in Composable Frontend Solutions

SANTIAGO, Chile, Jan. 03, 2024 (GLOBE NEWSWIRE) — Harris, a global vertical market software provider, announced today the acquisition of Modyo SpA (“Modyo”), leaders in next-generation frontend platforms used to build engaging web and mobile applications for mission-critical business systems.

Modyo develops software to design and manage the end-user digital experience for leading organizations across Latin America. Modyo’s secure and feature-rich platform accelerates the development of tailored customer journeys and provides for transaction scalability. Its cloud native architecture allows for the unification of native and third-party applications to create and evolve digital channels used by millions of consumers. Leading financial institutions and large enterprises trust Modyo’s technology to deliver the most innovative solutions, in an agile way.

As one of Canada’s largest software companies, Harris’ international presence, technology portfolio and financial resources will augment Modyo’s value proposition to clients and strategic partners. Modyo’s leadership team will continue to drive the adoption of this industry-leading platform and maximize value to customers.

We are delighted to offer a permanent home to Modyo’s committed employees, partners and customers as we increase our focus on the user experience,” stated Jean Soucy, Harris Group President. “It’s a thrill to be part of Modyo’s growth story, as they bring cutting-edge expertise along with powerful and proven software to our organization.”

Modyo founder and CEO, Mark Bonnell, added: “Our entire team is excited to join Harris, supporting our fast growth and expansion in Latin America and across the world. We look forward to leveraging their decades of experience as we continue to operate with the autonomy and agility to deliver best-in-class technology to our current and future customers.”

Landmark Alantra Group & DLA Piper acted as financial and legal advisors to Modyo SpA with Claro & Cia acting as legal advisors to Harris.

For further information, contact:

Mark Bonnell Jean Soucy
CEO Group President
P: +1 305-517-1580 P: +1 581-205-9821
E: mark@modyo.com E: jsoucy@harriscomputer.com


About Modyo

Founded in 2008 in Santiago by a group of entrepreneurs with a passion for technology, Modyo delivers a next-generation frontend platform to connect to core business systems and deliver engaging self-service journeys. Modyo’s global team in Chile, Colombia, Mexico, Costa Rica, Argentina, Spain, Canada and the USA collaborate to build secure software used by leading enterprises to power digital channels in banking, insurance, wealth management, telecommunications, and e-commerce.

About N. Harris Computer Corporation (Harris)

Harris acquires software companies, manages them using industry best practices, and builds them for the future. Through acquisitions, the company has grown tremendously since its origins in the utilities sector. Harris now operates over 230 businesses worldwide, in over twenty industries including healthcare, education, retail and financial services. Harris is an operating group of Toronto-based Constellation Software Inc. (TSX: CSU), one of North America’s most active acquirers of software businesses.

GlobeNewswire Distribution ID 9011999

CertiK Releases Hack3d 2023: The Web3 Security Report

NEW YORK, Jan. 03, 2024 (GLOBE NEWSWIRE) — CertiK, the industry leader in blockchain security, today announced the release of its annual flagship publication. Hack3d: The Web3 Security Report for 2023 is a comprehensive report that offers an unprecedented deep dive into the security incidents, vulnerabilities, and trends that have defined the landscape of blockchain and smart contract security over the past year.

Hack3d reports are the most detailed and authoritative security reports in the industry, providing the Web3 community the most comprehensive statistics on hacks, scams, and exploits. This year’s edition analyzes the 51% decrease in financial losses due to security breaches, down to $1.84 billion across 751 incidents from 2022’s total of $3.7 billion. In the report, CertiK evaluates whether this decline is an outcome of decreased asset valuations or a true reflection of improved security practices in the Web3 space.

Key highlights from Hack3d 2023 include:

  • Q3 saw the most losses, at $686,558,472, from 183 hacks, scams, and exploits.
  • Private key compromises were the most costly attack vector, with $880,892,924 lost in just 47 incidents. This represents nearly half of all financial losses, though just 6.3% of all security incidents.
  • Security breaches affecting multiple chains accounted for $799 million of losses in just 35 incidents, highlighting the persistent pain-point that is cross-chain interoperability.
  • In-depth examinations of significant events, including “retroactive bug bounty” negotiations, a major hardware wallet backend compromise, and the evolving landscape of institutional adoption in Web3.

CertiK’s Hack3d 2023 goes beyond presenting raw data, offering insightful analysis on how these security breaches have impacted the broader Web3 ecosystem. It features detailed explorations of new developments, such as the increasing trend in sophisticated negotiation tactics by hackers and the continuous quest for institutional adoption in the blockchain space.

“This year’s report is indispensable for everyone invested in the Web3 world,” said Prof. Ronghui Gu, co-founder of CertiK. “From blockchain developers and crypto investors to policymakers and digital currency enthusiasts, Hack3d 2023 serves as a crucial guide for navigating the complexities and opportunities of this rapidly evolving industry.”

Hack3d 2023 not only recaps significant security events of the past year but also provides forward-looking projections and insights, helping stakeholders prepare for the challenges and opportunities ahead.

Hack3d 2023 is now freely available on CertiK’s website.

Contact:

Elisa Yiting Xu
yiting.xu@certik.com

Jesse Leclere
jesse.leclere@certik.com

GlobeNewswire Distribution ID 9011833

Camden National Bank Adopts Advanced Mortgage Origination and Closing Solutions by nCino

Maine’s largest bank chooses innovative technologies from cloud banking leader to modernize point-of-sale and support fully remote online notarization

WILMINGTON, N.C., Jan. 03, 2024 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced the implementation of its mortgage origination and closing solutions from nCino’s Mortgage Suite by Camden National Bank.

Camden National Bank is a nationwide lender with branches predominantly concentrated in Maine and Massachusetts. The Bank’s replacement of its legacy mortgage point-of-sale (POS) technology with digital solutions from nCino’s Mortgage Suite is the latest in a series of modernization efforts aimed at providing superior flexibility and convenience for loan originators and customers.

“Loan originators are now equipped with better, easier, and faster access to their loans, allowing them to better connect with customers — all from their phones. Similarly, customers can connect with us from any mobile device and can even start an application on one device and jump to another to finish it,” said James Dell’Anno, Senior Vice President, Director of Mortgage Banking and Consumer Lending at Camden National Bank.

The transition to nCino’s Mortgage Suite has also made it easier for the Bank to accept digitally signed loan documents instead of requiring wet-signed paperwork, which in turn will allow Camden National Bank to offer solutions that support remote online notarization (RON) closings, a notarization method recently authorized by newly enacted legislation in Maine and Massachusetts.

“nCino’s native support for eSigning and eNotarization puts us ahead of competitors in providing faster, more convenient closings customers prefer. Customers can join from wherever they are — at work, between errands, or from their kitchen table,” Dell’Anno added.

“We are pleased to partner with Camden National Bank to improve accessibility and convenience for its loan originators and customers,” said Ben Miller, Executive Vice President U.S. Mortgage at nCino. “These solutions not only modernize and automate the Bank’s mortgage processes, they also help position Camden National Bank to be a regional leader in fully online closings.”

About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. Through its single software-as-a-service (SaaS) platform, nCino helps financial institutions serving corporate and commercial, small business, consumer, and mortgage customers modernize and more effectively onboard clients, make loans, manage the loan lifecycle, and open accounts. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,850 financial services providers globally. For more information, visit www.ncino.com.

Media Contacts
Natalia Moose
Press@ncino.com

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC’s web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.

GlobeNewswire Distribution ID 9011602

Enovis Completes Acquisition of LimaCorporate S.p.A

WILMINGTON, Del., Jan. 03, 2024 (GLOBE NEWSWIRE) — Enovis™ Corporation (NYSE: ENOV, “Enovis” or the “Company”) an innovation-driven, medical technology growth company, today announced that it closed the acquisition of LimaCorporate S.p.A. (“Lima”), a privately held global orthopedic leader focused on restoring motion through an innovative portfolio of implant solutions.

Lima strengthens Enovis’ position in the global orthopedic reconstruction market with a complementary portfolio of proven surgical solutions and technologies, which will accelerate global growth and margin expansion. In addition, Lima’s portfolio includes 3D printed Trabecular Titanium implants and a comprehensive revision offering in shoulders, which will further strengthen the Company’s position in the fast-growing extremities market.

“We are excited to welcome Lima’s talented team to Enovis. The combination brings Enovis’ recon segment to $1 billion in revenues and creates a fast-growing innovator in the global orthopedic reconstruction market. This is another great example of how we use strategic acquisitions to accelerate our growth, add great technologies and talent to our company, and drive compounding value for our shareholders,” said Matt Trerotola, Chair, and Chief Executive Officer of Enovis.

About Enovis Corporation
Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent, and innovation, the Company’s extensive range of products, services, and integrated technologies fuels active lifestyles in orthopedics and beyond. The Company’s shares of common stock are listed in the United States on the New York Stock Exchange under the symbol ENOV. For more information about Enovis, please visit www.enovis.com

Forward-Looking Statements
This press release includes forward-looking statements, including forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding the Company’s plans, objectives, expectations and intentions and other statements that are not historical or current fact. Forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause the Company’s results to differ materially from current expectations include, but are not limited to, risks and uncertainties regarding the Company’s and Lima’s respective businesses, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the effects of the acquisition on the Company’s and Lima’s operations, including on the combined company’s future financial condition and performance, operating results, strategy and plans, including anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, losses, future prospects, and business and management strategies for the management, expansion and growth of the new combined company’s operations; the potential impact of the consummation of the acquisition on relationships with customers, suppliers and other third parties; and the other factors detailed in the Company’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption “Risk Factors,” as well as the other risks discussed in the Company’s filings with the SEC. In addition, these statements are based on assumptions that are subject to change. This press release speaks only as of the date hereof. The Company disclaims any duty to update the information herein.

Investor Relations Contact
Kyle Rose
Vice President, Investor Relations
Enovis Corporation
+1-917-734-7450
investorrelations@enovis.com

Media Contact
Katie Sweet
Vice President, Corporate Communications
Enovis Corporation
Katie.sweet@enovis.com

GlobeNewswire Distribution ID 9011517

Copenhagen Infrastructure Partners acquires early-stage Danish solar PV portfolio from Soltec

Today, Soltec Power Holding and CIP announced CIP’s 100% ownership acquisition of the Soltec Danish solar PV project portfolio.

COPENHAGEN, Denmark, Jan. 03, 2024 (GLOBE NEWSWIRE) — CIP’s Energy Transition Fund I (CI ETF I) will obtain 100% ownership of Soltec’s Danish early-stage solar PV portfolio. CIP’s intention is to develop, build and operate these assets to provide renewable electricity for ETF I’s Danish Power-to-X projects (e.g., Fjord eSAF, Høst green ammonia/hydrogen). The portfolio consists of development projects with a combined potential installed capacity of ~850MWDC. The project sites are scattered across Denmark, with the vast majority of the projects situated in Jutland.

Felix Pahl, Partner in CIP, commented: “We are proud to have made CIP’s first acquisition of Danish solar PV energy. The Soltec portfolio represents an attractive opportunity for CI ETF I to acquire power generation assets under development, thereby enabling our Power-to-X projects under development in Denmark. We are certain that CIP can accelerate the development of the portfolio by committing to work closely with local stakeholders to deploy renewable energy projects in Denmark. CI ETF I aims to make a positive contribution to the green transition and Power-to-X industry by developing world leading capabilities in Denmark. The Soltec portfolio can become one of CI ETF I’s steps towards driving local growth and value to the CI ETF I investors.”

Raúl Morales, the CEO of Soltec, commented: “We are very satisfied with this first agreement reached with CIP, a company with a great recognition and experience worldwide, to which we have been able to provide with high quality projects under development in Denmark, to contribute to its growth. Without any doubt, this is a great sign of trust in Soltec, and they will have our support at an industrial level during the development of the projects.”

About Soltec Power Holdings
Soltec Power Holdings (ticker: ‘SOL’) is a company that specializes in vertically integrated solutions in the solar photovoltaic power sector and is strongly committed to innovation and sustainability. Headquartered in Murcia, the company was established in 2004 and currently operates in 16 countries, its presence being strong in Spain, North America and Latin America. The company has been listed in the Spanish Stock Exchange since 2020.

Soltec structures its activity via three large business units: i) the PV Project Development Division, which has a strong environmental, social and good governance commitment ii) the Industrial Division (Soltec is the world’s third largest solar tracker manufacturer), which provides further construction services to its clients to ensure a complete and integrated value proposition; and iii) Soltec Asset Management, through which Soltec manages the assets in its portfolio in order to maximize its benefits in the medium and long terms.

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages ten funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com

For further information, please contact:
E-mail: media@cip.com

Oliver Routhe Skov, Head of Media Relations
Phone: +45 30541227
Email: orsk@cip.com

Thomas Kønig, Partner – Investor Relations
Phone: +45 7070 5151
Email: tkon@cip.com

GlobeNewswire Distribution ID 1000906980

HqO Further Propels Global Commercial Real Estate Transformation with Launch of ‘Best Spaces to Work in London’

World’s First Certification Programme for Unparalleled Workplace Experiences

LONDON, Jan. 03, 2024 (GLOBE NEWSWIRE) — HqO, the world’s leading real estate experience platform, today announced the launch of ‘2024 Best Spaces to Work in London’, the only recognition and certification programme dedicated to scoring and validating end-user real estate experiences in spaces across the city. This comes on the heels of the programme’s successful launch in the US just a few weeks ago in Boston.

Published quarterly, the list will be based on real estate experience data from occupiers and their employees gathered through HqO’s proprietary Intelligence suite of products leveraging the world’s most powerful and trusted employee experience assessment framework.

This news follows HqO’s recent £40 million Series D funding announcement and launch of their Real Estate Experience (REX) Platform. HqO continues to partner with industry leaders to solve unprecedented occupier attraction and retention challenges.

‘London is one of the most vibrant cities in the world, with a workforce of 5.5 million, including 650,000 finance professionals in the city alone. Best Spaces to Work plays a pivotal role in pinpointing the properties, offices, and amenities throughout London that provide the exceptional experiences employees now demand throughout their workday,’ said Samuel Warren, VP (EMEA) of HqO. ‘The pandemic compelled the commercial real estate sector to shift towards a customer-oriented approach, and the tangible results are evident in the data. Owners and operators who prioritise end-user experience are achieving higher rents, lower vacancy, and their occupiers are seeing higher levels of employee retention.’

To participate in the programme, nominated spaces—buildings, offices, and amenities alike—undergo a REX Assessment to generate their REX Score, the quality measure of the end-user experiences within their space. Scores are then compared with data gathered over the last decade from over 8,000 workplaces and more than 1.7 million employees. If a REX Score meets or exceeds benchmarks from this data, the space will be certified and promoted as one of the Best Spaces to Work in London.

‘For the first time in the history of the commercial real estate industry, prioritising the end-user experience within workspaces is not merely a choice, it is critical for future success,’ remarked Chase Garbarino, Co-Founder and CEO at HqO. ‘With office occupancy at an unprecedented low and the competition for top talent reaching new heights, maintaining a strong REX Score will provide a competitive edge in this rapidly evolving market. This is precisely why HqO has introduced its Best Spaces to Work programme to Boston and now London. We aim to spotlight the most exceptional workspaces—spaces that are revitalising workplace culture, fostering community, and enhancing engagement. Undoubtedly, this programme will prove to be a game-changer for tenant and employee acquisition and retention.’

Best Spaces to Work will soon be rolling out to other major cities around the world, including Paris, Amsterdam, New York, Chicago, and Washington, D.C.

To secure your place in the first publication of ‘2024 Best Spaces to Work in London’, nominate your space by 31 January 2024. Visit our website today to get started.

About HqO:
HqO is leading the transformation of the way people experience real estate. Through its Real Estate Experience (REX) Platform—a powerful and dynamic suite of applications and services—HqO has powered over 400 million square feet at over 700 properties across 32 countries. The world’s most innovative organisations rely on HqO to drive operational excellence by maximising and boosting tenant and employee acquisition, retention, and engagement.

For more information, visit www.hqo.com.

For additional questions, please reach out to HqOPR@boathouseinc.com.

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