Month: March 2023

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2023 Digital Therapeutics Alliance Inaugural Summit: DTx Industry Leaders Gather to Transform Global Healthcare

Held at the Washington D.C. Marriott at Metro Center June 7 – 9, 2023.The 3-day Summit programming will be facilitated by leaders from all facets of the DTx industry, including policymakers, manufacturers, payors, and other experts to guide innovation and equity in healthcare.

Arlington, VA, March 30, 2023 (GLOBE NEWSWIRE) — The Digital Therapeutics Alliance (DTA) is hosting its Inaugural Summit on June 7-9, 2023 at the Washington Marriott at Metro Center. Leaders from all facets of the digital therapeutics (DTx) ecosystem, including policymakers, clinicians, and payors, will join DTA members to discuss the challenges and opportunities of DTx integration into the healthcare system and identify optimized policy, reimbursement, and regulatory pathways to accelerate adoption.

The 3-day Summit programming will be facilitated by Andy Molnar, Chief Executive Officer of DTA, and feature keynote presentations, panel discussions, and interactive sessions that cover the advancement of DTx, the impact of healthcare policy, reimbursement and regulatory pathways, clinical evidence requirements, and patient access optimization.

DTA’s Chief Executive Officer, Andy Molnar states: “We are here to transform healthcare and deliver a new category of medicine to patients to improve their lives. The 2023 DTA Inaugural Summit brings together the leaders in healthcare innovation that are making these monumental changes. We are building viable frameworks with partners from Capitol Hill, the investment ecosystem, clinicians, health plans, patients, and caregivers.”

DTx products use evidence-based, clinically evaluated technologies to optimize clinical and health economic outcomes, deliver high quality therapies to underserved populations, and transform how patients understand, manage, and engage in their healthcare.

Leading into the Summit, US-focused DTA members and staff will convene in Washington D.C. to meet with congressional members and other influential parties to advocate for the Access to Prescription Digital Therapeutics Act (S. 723 and H.R. 1458).This bill seeks to create a new benefit category for digital therapeutics and ensure permanent coverage and reimbursement of DTx products by Medicare and Medicaid.

Everett Crosland, DTA board member and Chief Commercial Officer for Cognito Therapeutics, commented, “Given the rapidly evolving reimbursement environment, DTA’s 2023 Inaugural Summit offers the DTx industry an unprecedented opportunity to engage and advocate on the issues that matter most to our companies, patients, providers, and payor partners. I’m excited to speak about the emerging frameworks that are shaping our future.”

Event details and registration: 2023 DTA Inaugural Summit 

About DTA:

The Digital Therapeutics Alliance (DTA) is a global non-profit trade association of industry leaders and stakeholders with the mission of broadening the understanding, adoption, and integration of digital therapeutics into healthcare. DTA works to enable expanded access to high quality, evidence-based digital therapeutics for patients, clinicians, and payors to improve clinical and health economic outcomes. To learn more, please visit: www.dtxalliance.org and follow us on LinkedIn.

Attachment

Autumn Brennan
Digital Therapeutics Alliance
608-304-8000
abrennan@dtxalliance.org

GlobeNewswire Distribution ID 8799236

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African Leaders to Discuss Africa’s Resilient Growth during AFC’s 3rd Country, Stakeholder Symposium

Addis Ababa In its drive to reinforce commitment and partnership with stakeholders, the Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, will convene the 3rd edition of its Country and Stakeholder Symposium on the 4th of April 2023.

The event will bring together leaders of including the President of Zambia, Hakainde Hichilema’; Egyptian Finance Minister, Mohamed Maait; Ethiopian Sate Minister of Finance, Eyob Tekalign, and others, according to AFC.

The symposium, organized under the theme, “partnering for resilience and sustainable growth in turbulent times,” will convene industry experts from the government and the private sector in conversation on how African governments, investors and other stakeholders can partner with AFC to implement innovative solutions that deliver on their development agenda in uncertain times.

Attendees will get the opportunity to engage with industry experts on topics such as digital transformation in finance, innovation in infrastructure financing, responsible investing, and the impact of geopolitical events on infrastructure development.

“We look forward to hosting the third edition of our Country and Stakeholder Symposium, a platform for meaningful conversations around collaborating to build resilience and sustainable growth in Africa,” said Samaila Zubairu, President and CEO of AFC.

“We believe that by working together, we can address the challenges facing our continent and build a more prosperous Africa, shifting our focus from primary extraction of our abundant raw materials and mineral resources to value addition, job creation and industrialization.

AFC was established in 2007 to be the catalyst for private sector-led infrastructure investment across Africa.

Source: Ethiopian News Agency

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Home-Grown Economic Reform Exemplary for Other African Countries: ECA Acting Secretary

Addis Ababa Ethiopia’s Home-Grown Economic Reform could serve as an example for other African countries, and we are creating a platform for sharing these experiences among African countries, ECA Acting Executive Secretary Antonio Pedro said.

The Home-Grown Economic Reform is aimed at transforming Ethiopia from a largely agrarian low-income country to an industrialized lower-middle-income country by 2030.

The Acting Executive Secretary, Antonio Pedro told the Ethiopian news Agency that these experiences are very important to improve the capacity of all of Africa to respond to crises, and move forward with the African Continental Free Trade Area (AfCFTA) enhancing the process of economic transformation of the continent.

Pedro stated that Ethiopia is successfully pursuing the reform “which we are confident that the government will be able to implement despite the challenges the whole of Africa has been facing due to the crisis.”

He also revealed that the commission has been working with the Ministry of Finance in areas like reforming the country’s tax system, modernizing and expanding tax base.

Ethiopia is among the countries that are undertaking reforms of the tax systems to increase the tax base and accelerate development, Pedro added.

“So, today Ethiopia is among the countries that are undertaking tax reforms to increase the tax base and accelerate development.”

The acting executive secretary further stressed that ECA also collaborates with the government of Ethiopia in areas that could lead to make the country a great power in agribusiness.

Equipping the country with important infrastructure and industrial parks will also contribute to the economic development of the nation that moves fast, he added.

Finance Minister, Ahmed Shide on his part had told ENA that inflation is affecting the country’s economy despite the resilience and growth witnessed in the country over the past few challenging years due to the war in the northern part of the nation and the Russia-Ukraine war.

In order to solve these and other problems, the minister said the government will continue to implement the Second Home-Grown Economic Reform and facilitate reconstruction efforts, narrow macro-economic gaps, and increase private sector participation in the economy.

The First Home-Grown Economic Reform introduced in 2018 has proved effective to deter internal and external economic challenges.

Therefore, the government is working on an additional economic reform plan that will help to control inflation, improve foreign currency availability and administration, enhance domestic resources mobilization, and increase local and foreign investment.

Source: Ethiopian News Agency

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Africure Pharmaceuticals Manufacturing Preparing to Inaugurate Production Soon

Addis Ababa The management of the Ethiopian Investment Commission (EIC), led by Commissioner Lelise Neme, visited of Africure Pharmaceuticals Manufacturing Ethiopia PLC and encouraged current project implementation progress.

Located inside Kilinto Industrial Park, Africure is a joint venture company owned by Ethiopian and foreign multinational investors ready to manufacture pharmaceutical products in Ethiopia.

With the vision of meeting national medicine demand and serving regional market, Africure pharmaceutical plant is preparing to inaugurate production soon.

EIC management reaffirmed to avail unceasing support and facilitation to the company.

Source: Ethiopian News Agency

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Russia Can Support Ethiopia to Elevate Industry, Grow Specialists Faster: Cosmonaut Sergey Kud-Sverchkov

Addis Ababa The Russian Cosmonaut Sergey Kud-Sverchkov shared today his experiences to Ethiopian students at the Addis Ababa Science and Technology University (AASTU), further pointing out that Russia can help Ethiopia to raise the industry faster.

Briefing the media after his presentation to students, the cosmonaut said Russia can provide some special services like geo-observation data for Ethiopia as it has already entered cooperation agreement in nuclear sciences with the university and will probably have cooperation in space engineering program.

Such kind of engineering is the basis for developing any country, he noted, adding that engineering specialists are those who can improve the whole industry.

“It does not matter if it is rocket science or nuclear science. If you need to develop, you have to pay attention to these areas of education.”

The astronaut advised that the Ethiopian government itself and the university could decide what the priorities for the country are, and we as partners can provide services for the country.

“We should first of all look at the needs. If we need to improve our rocket science, we pay attention to it and we grow specialists in this area.”

For Kud-Sverchkov, it is up to the government to decide what kind of specialists and scientists it needs. But obviously every country needs their own scientists to develop in their own way.

“Our task is to be partners in development. Probably it is really hard and expensive to create industry from the very beginning. As Russia, we can help raise the industry faster and grow specialists faster to catch up with the world.”

AASTU President, Dereje Engida said that sharing such experiences is pivotal to prepare Ethiopia for the future and prepare the young generation.

The university has 8 centers of excellence which have been designated to work on special areas such as mining extraction and exploration, sustainable energy, biotechnology and bio-process, nanotechnology, artificial intelligence, and robotics.

Space Science and Geospatial Institute (SSGI) Director General, Abdisa Yilma said “following the footsteps of Yuri Gagarin, and with the spirit of a great people like you (Sergey Kud-Sverchkov), we (Ethiopians) hope that brilliant and courageous astronauts will emerge in the near future.”

The cosmonaut Sergey Kud-Sverchkov had spent 185 days in orbit in 2020-2021, working as a flight engineer alongside his Russian and American colleagues.

Russia is a pioneer country in space exploration. It has contributed a lot to humanity by developing space technologies and skills that enable human beings to make the first steps in space.

Source: Ethiopian News Agency

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Nation Successfully Sustained Unity of Country by Resisting International Pressure: HPR Standing Committee Member

Addis Ababa Ethiopia has carried out diplomatic activities that enabled it to maintain the unity of the country by resisting international pressure during the past five years, Foreign Relations and Peace Affairs Standing Committee member of the House of People’s Representatives Dina Mufti said.

Dina has explained in detail the public diplomacy activities carried out in the past five years.

During the years, the nation undertook diplomatic activities that ensured the continuity of the sovereignty of the nation by withstanding international and the local problems.

Ethiopians all over the world stood for their country during those difficult times, he noted, adding that among the works carried out in the period included public diplomacy centered on the interests of the country.

Successful diplomatic activities have in particular been carried out to sustain the interests of the country by coping the challenges of COVD-19 epidemic, economic crisis, and the war in northern Ethiopia, Dina explained.

According to him, public diplomacy activities that protect the interests of the country at the international level have been strengthened through parliamentary diplomacy and people-to-people relations.

He recalled that the country was in trouble in different directions when the reform government came to power.

Even if there are limitations in responding to problems, it is a great success to be able to sustain the unity and sovereignty of the country by overcoming natural and man-made problems as well as international phenomena, he stated.

Dina further said that efforts are being made to strengthen the relationship with other sisterly Africa and the countries as well as peoples of the world through parliamentary diplomacy.

The Foreign Relations and Peace Affairs Standing Committee member finally called on Ethiopians living abroad, prominent persons, artists and others to strengthen their participation in public diplomacy in order to protect the country’s economic and political interests by promoting the objective realty in the country.

Source: Ethiopian News Agency

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CGIAR Researches Improving Livelihoods of Millions in Ethiopia: Agriculture State Minister

Addis Ababa The Consultative Group on International Agricultural Research (CGIAR)’s game-changing research solutions have been improving millions of livelihoods across Ethiopia, according to Agriculture State Minister Fikru Regassa.

Speaking at the launching of One CGIAR in Ethiopia (an integrated approach for the 11 international research centers Ethiopia hosts), the state minister said the Government of Ethiopia recognizes CGIAR’s role in transforming millions of households in the country.

As a host of CGIAR research centers here in Addis Ababa, Ethiopia has hugely benefited from agricultural researches undertaken by CGIAR, he added.

According to Fikru, CGIAR-related agricultural innovations between 1999 and 2019 alone have reached up to 79 percent of rural households in Ethiopia.

There have been at least 52 different innovations related to animal agriculture, crop germ plasm improvement, and natural resource management, it was learned.

Some 26 instances of policy influence have also been contributed by CGIAR’s research during this time.

Among these technologies, soil and water conservation innovations were adopted by 9.4 million households and about 4 million households use CGIAR-derived maize germ plasm.

The state minister, who said that the Government of Ethiopia is working to transform the country’s agriculture by 2030, has asked the Consultative Group on International Agricultural Research (CGIAR) to further boost its scientific contribution to the success of the government’s 10-year agriculture plan.

ILRI Director General’s Representative to Ethiopia and CGIAR Country Convener, Namukolo Covic said CGIAR will not only continue and enhance alignment of its projects with government priority areas but also engage in forward thinking to address future challenges.

The representative pointed out that Ethiopia’s successful wheat development strategy is a lesson for others.

She further said that “working with our national and regional partners, we will explore lessons we can learn from the successful wheat development efforts of Ethiopia for other commodities and also look forward to preempting challenges that may need to be addressed for long term sustainability.”

Recall that CGIAR had 11 international research centers in Ethiopia. In a bid to enhance synergies and avoid duplication of efforts and engage in assisting governments objectives in agriculture, CGIAR has transitioned to One CGIAR.

Source: Ethiopian News Agency

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Vista Equity Partners Completes Acquisition of Duck Creek Technologies

Boston, March 30, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies (“Duck Creek”), the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, today announced the completion of its acquisition by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses, for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.

“We are excited to commence our partnership with Vista Equity Partners and work together to advance the next generation of P&C insurance technology,” said Michael Jackowski, Chief Executive Officer of Duck Creek. “With Vista’s global network and deep sector expertise, we will be better positioned to support and accelerate the industry’s transition to the cloud while continuing to deliver a best-in-class customer experience.”

“Duck Creek is a demonstrated leader in the P&C space, delivering innovative solutions that empower carriers to be faster and more nimble in servicing the digital needs of their customers,” said Monti Saroya, Senior Managing Director and Co-Head of Vista’s Flagship Fund. “We look forward to partnering with Mike and the Duck Creek team as they continue to scale and define the future of P&C insurance technology.”

“We’re excited to welcome Duck Creek to the Vista ecosystem,” said Jeff Wilson, Managing Director at Vista. “Their commitment to excellence and innovation coupled with Vista’s experience in driving sustainable growth will take the business to new heights while delivering solutions that help carriers transform their business.”

Duck Creek has earned the right to partner with and provide its modern technology solutions to an esteemed list of leading carriers across the globe, including Berkshire Hathaway Specialty Insurance, Hollard Insurance, Northbridge Financial Corporation and Tokio Marine.

With the completion of the transaction, Duck Creek Technologies shares have ceased trading and are no longer listed on the Nasdaq Global Select Market.

J.P. Morgan acted as financial advisor to Duck Creek, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Duck Creek.

Evercore acted as financial advisor to the Special Committee of the Duck Creek Board of Directors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Special Committee of the Duck Creek Board of Directors.

RBC Capital Markets acted as financial advisor to Vista, and Kirkland & Ellis LLP acted as legal counsel to Vista.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

About Vista Equity Partners

Vista is a leading global investment firm with more than $95 billion in assets under management as of September 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

Carley Bunch
Duck Creek Technologies
+1 (201) 962-6091
carley.bunch@duckcreek.com

GlobeNewswire Distribution ID 8798688

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Moderna Finalizes Agreement with the Government of the Republic of Kenya to Establish an mRNA Manufacturing Facility

Facility to enable access to manufactured mRNA vaccines for Kenya and the African continent, providing health security and building upon Moderna’s global public health commitments

The facility will be capable of producing up to 500 million doses each year

CAMBRIDGE, MA & NAIROBI, KENYA/ ACCESSWIRE / March 30, 2023 / Moderna, Inc. (NASDAQ:MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, and the Government of the Republic of Kenya have finalized an agreement to establish an mRNA manufacturing facility in the Republic of Kenya. This will be the Company’s first mRNA manufacturing facility in Africa.

In partnership with the Government of the Republic of Kenya, Moderna will build a state-of-the-art mRNA facility in Kenya to produce up to 500 million doses of vaccines each year. The Company expects the new facility to enable drug substance and drug product manufacturing for Kenya and the African continent. In addition, this facility will have surge capacity to rapidly scale and respond to public health emergencies on the continent and around the world.

“The finalization of our agreement with the Government of the Republic of Kenya is a key pillar of our global public health strategy, where we hope to bring mRNA innovation to the people of Africa in areas of high unmet need, such as acute respiratory infections, as well as persistent infectious diseases like HIV and outbreak threats such as Zika and Ebola,” said Stéphane Bancel, Chief Executive Officer of Moderna. “This also demonstrates our confidence in the investment climate in Kenya and the importance of utilizing mRNA technology to build resilience in healthcare security in Africa. We are also grateful for the leadership of the U.S. Ambassador to Kenya, Meg Whitman, and Samantha Power, in her role as Administrator of the United States Agency for International Development for their instrumental support of this project.”

“We are excited about this milestone that brings to bear our efforts as Government to sustain our economic model of facilitating investments that serve not only Kenya but the African continent. My Government commits to supporting this investment as a critical signal to the investment community that Kenya is open for business,” said President William Ruto.

“This investment creates the momentum to meet the $10 billion annual target under the Government’s manufacturing 20 by 30 vision, where we plan to grow the contribution of manufacturing to GDP to 20% by the year 2030 from the current 7%,” said Kenya’s Cabinet Secretary for Investments, Trade, and Industry Hon. Moses Kuria.

The Government of Kenya has championed an accelerated investment agenda to grow foreign direct investment levels from the current levels of $448 million annually to $10 billion annually, making the country’s goal the continent’s most ambitious agenda to attract investments as an enabler to job creation. Moderna’s investment signifies confidence in the business environment in Kenya and readiness to support foreign and local investment in the healthcare sector, as well as Moderna’s ongoing commitment to global public health. Moderna will operate under a Special Economic Zone (SEZ) status, signifying Kenya’s increasing focus on the SEZ program as a key enabler of economic growth.

With this agreement, Moderna has commitments to establish mRNA manufacturing facilities in Kenya, the United States, Canada, Australia, and the United Kingdom, furthering health security around the world. Moderna has spent more than a decade refining its mRNA platform to accelerate the pace and success of mRNA medicines. The speed, scale, and flexibility of Moderna’s mRNA platform is uniquely suited for rapid response to serious international epidemics, commonly referred to as Disease X.[i]

Moderna is committed to advancing into clinical studies a portfolio of 15 vaccine programs targeting emerging or neglected infectious diseases by 2025, advancing vaccines that address current diseases of significant impact to low- and middle-income countries, and those that prepare for Disease X. Moderna will prioritize development efforts against pathogens identified as persistent global health threats, including HIV, tuberculosis (TB) and malaria, neglected tropical diseases and the priority pathogens of the World Health Organization and the Coalition for Epidemic Preparedness Innovations. Learn more at https://www.modernatx.com/responsibility/our-commitment.

About Moderna

In over 10 years since its inception, Moderna has transformed from a research-stage company advancing programs in the field of messenger RNA (mRNA), to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across seven modalities, a broad intellectual property portfolio, and integrated manufacturing facilities that allow for rapid clinical and commercial production at scale. Moderna maintains alliances with a broad range of domestic and overseas government and commercial collaborators, which has allowed for the pursuit of both groundbreaking science and rapid scaling of manufacturing. Most recently, Moderna’s capabilities have come together to allow the authorized use and approval of one of the earliest and most effective vaccines against the COVID pandemic.

Moderna’s mRNA platform builds on continuous advances in basic and applied mRNA science, delivery technology, and manufacturing, and has allowed the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases. Moderna has been named a top biopharmaceutical employer by Science for the past eight years. To learn more, visit www.modernatx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: the Company’s plans to build an mRNA manufacturing facility in Kenya; the anticipated capacity and output for that facility; the ability of the facility to respond to public health emergencies; Moderna’s aspiration to develop treatments or vaccines against HIV, Zika, Ebola, and other public health pathogens; the ability of Moderna’s mRNA platform to respond to future epidemics; foreign investment in the health sector in Kenya; the advantages of doing business in a Kenyan Special Economic Zone; and Moderna’s plans to establish manufacturing facilities in the United State, Canada, United Kingdom, and Australia. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “could,” “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission (SEC), which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.

Moderna Contacts:

Media:

Luke Mircea Willats
Senior Director, Corporate Communications
Luke.Mirceawillats@modernatx.com

Investors:

Lavina Talukdar
Senior Vice President & Head of Investor Relations
617-209-5834
Lavina.Talukdar@modernatx.com

[i] “Disease X” was named by the WHO to represent the knowledge that a serious international epidemic could be caused by a pathogen currently unknown to cause human disease. https://www.who.int/activities/prioritizing-diseases-for-research-and-development-in-emergency-contexts

SOURCE: Moderna, Inc.

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Hitachi Energy and Petrofac secure landmark offshore wind agreement worth approximately 13 billion euros

Largest framework agreement in Hitachi Energy company history, enabling long-term capacity expansion to accelerate the energy transition.Complementary technologies and expertise support TenneT’s offshore wind capacity expansion in the German and Dutch sectors of the North Sea.

Zurich, Switzerland, March 30, 2023 (GLOBE NEWSWIRE) — Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, and Petrofac, a leading international service provider to the energy industry, have been selected by TenneT, the Dutch-German transmission system operator, to supply multiple offshore and onshore HVDC converter stations and associated infrastructure to accelerate the integration of bulk renewables into European power grids.

Hitachi Energy and Petrofac were awarded the multi-year framework agreement as part of TenneT’s ambitious offshore wind “2GW Program”1, based on high-voltage direct current (HVDC) technology pioneered by Hitachi Energy.

The agreement includes an initial commitment to deploy six record-breaking renewable integration systems, five of which will connect offshore wind farms to the Dutch grid and the sixth to the German grid. Each of these connection systems has a capacity of 2 gigawatts (GW) and a voltage level of 525 kilovolts (kV) – a world-first for offshore wind.

This landmark framework agreement is the largest ever for Hitachi Energy. It confirms the opportunity to innovate how state-of-the-art technology can be deployed effectively and how new business models enable the scale needed for the green energy transition. The framework agreement approach allows Hitachi Energy and Petrofac to plan in advance and increase their workforce and manufacturing capacity timely as well as train people to have the skills needed in the industry while also capturing synergies between successive projects to meet the in-service dates.

Hitachi Energy will supply its HVDC Light® converter stations, which convert AC to DC power offshore and DC to AC onshore. Petrofac will undertake the engineering, procurement, construction and installation (EPCI) of the offshore platforms and elements of the onshore converter stations.

The first contract under the framework, for the Ijmuiden Ver Alpha project, was awarded with immediate effect. The second, Nederwiek 1, is expected to be awarded later in the year. The framework also includes projects Doordewind 1, Doordewind 2, Nederwiek 3 and LanWin5, expected to be awarded over a 2024-2026 timeframe.

“This innovative business model will set the course for the integration of a huge amount of offshore wind power and gives visibility of the future.  In fact, we are already hiring to expand our global delivery capacity and effectively fulfill these and other orders,” said Niklas Persson, Managing Director at Hitachi Energy’s Grid Integration business. “We’re proud to be part of this journey and, along with our partner Petrofac, we are setting the benchmark for deploying offshore HVDC technology at scale and with speed.”

“Today’s announcement represents an exciting next step in Petrofac and Hitachi Energy’s collaboration. We have already secured key resource and the yard capacity required to expedite the first two projects in TenneT’s ground-breaking program,” said Sami Iskander, Petrofac’s Group Chief Executive. “By combining Petrofac’s industry-leading EPCI expertise and Hitachi Energy’s well proven technology, we look forward to supporting TenneT to connect larger, more effective wind farms to deliver affordable clean energy for millions of European homes.”

“TenneT has the technical know-how, scale, and geographical position to connect wind energy from the North Sea. This is one of the most important infrastructure projects of the century; the green transformation of the energy system is key for the decarbonisation of industry,” said Tim Meyerjürgens, COO of TenneT. “Together with our market partners, we are very proud to have achieved another important milestone. Together we secure decisive acceleration of the offshore grid development and set the course for the future European energy landscape.”

“The new long-term approach goes hand in hand with a fundamental change in values towards a strong partnership. This approach enables both sides with more flexibility, technological progress, and planning security,” said Marco Kuijpers, Director Large Projects Offshore of TenneT.  This benefits all parties and secures employment, growth, and the strengthening of supply chains. We can already see that our partners invest in extra resources and facilities.”

Hitachi Energy and Petrofac began working together in June 2022, to provide joint grid integration and associated infrastructure solutions to support TenneT’s 2GW Program.2

In the same year, Germany, the Netherlands, Denmark and Belgium agreed to install at least 65 gigawatts of offshore wind energy combined by 2030 announced with the inter-governmental Esbjerg Declaration.3 At 40 gigawatts, almost two-thirds of this capacity is accounted for by TenneT, with 20 gigawatts each in the German and Dutch North Sea sectors.

1 TenneT’s 2GW Program
2 Hitachi Energy and Petrofac to collaborate in growing offshore wind market
3 The Esbjerg Declaration

HVDC website:
https://www.hitachienergy.com/offering/product-and-system/hvdc

About Hitachi Energy Ltd.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.
https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://twitter.com/HitachiEnergy

About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

About Petrofac
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.

Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world’s evolving energy needs. Our four values – driven, agile, respectful and open – are at the heart of everything we do.

Petrofac’s core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, Southeast Asia and the United States. We have 8,000 employees based across 31 offices globally.

Petrofac is quoted on the London Stock Exchange (symbol: PFC). For additional information, please refer to the Petrofac website at www.petrofac.com

Media contacts:
Jocelyn Chang
Global Head of Public Relations & Content Strategy
Hitachi Energy
jocelyn.chang@hitachienergy.com

Sophie Reid
Group Head of Communications
Petrofac
sophie.reid@petrofac.com

Attachment

Jocelyn Chang
Hitachi Energy
jocelyn.chang@hitachienergy.com

GlobeNewswire Distribution ID 8798527

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Int’l Community Providing Support To Nation’s Effort of Lasting Peace: MFA

Following the Pretoria peace agreement, the international community is rendering support to the efforts of Ethiopia for ensuring sustainable peace, Spokesperson of the Ministry of Foreign Affairs Ambassador Meles Alem said.

In a bi-weekly press briefing he gave to journalists today, Ambassador Meles Alem said Ethiopia is striving to consolidate peace and pursue strong economic diplomacy.

He explained that after the Pretoria peace agreement, the government has carried out various activities including restoration of basic services, delivering humanitarian supplies which would consolidate peace.

Accordingly, the international community expressed commitment to supporting Ethiopia’s effort to achieve complete peace.

“We need to strengthen relations with long term development partners. The relations with international organization are very good. They have demonstrated commitment to further strengthening the efforts of consolidating peace in the country,” he said.

He added that the efforts being underway in ensuring peace have attracted the flow of many tourists to the country and this would also create good opportunity to lure investments to the country.

Talking of the country’s bilateral relations with the Middle East, EU and USA, the ambassador said that ties are very good and efforts are also underway to further strengthen them.

In particular, the ambassador pointed out that the relations between Ethiopia and the Middle East are very strong and historical noting that they are among many countries which have been supporting Ethiopia’s reform programs; the two sides have enjoyed strong economic and political ties.

He also said Ethiopia-US relations are improving. As a result, he revealed that the Ethio-American Business Forum will be held next month.

With regard to relations with neighboring countries, Ethiopia’s foreign diplomacy gives priority to work together with them for peace, stability and shared prosperity. In this regard, the country is working in collaboration with its neighboring countries for mutual benefits.

In citizen diplomacy, the spokesperson said some 125 thousand citizens who were in dire condition have been repatriated from Saudi Arabia in one year, he said, noting that this number doesn’t include citizens repatriated from different African countries.

Source: Ethiopian News Agency

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AUC, Nutrition International Launch Advocacy Campaign on Reducing Malnutrition in Adolescent Girls

The African Union Commission (AUC) and Nutrition International join forces to launch advocacy campaign focused on reducing malnutrition particularly in adolescent girls, the press release issued by the AUC said.

Department of the African Union Commission and Nutrition International launched “With Good Nutrition, She’ll Grow Into It”, an advocacy campaign dedicated to improving the health, wellbeing and empowerment of girls in Africa through efforts to prevent iron-deficiency anaemia. The campaign was kicked off during the High-Level Dialogue on Nutrition Financing in Maseru, Lesotho.

The press release pointed out that the two-year campaign aims to promote public awareness on the negative impacts of inadequate nutrition – especially iron-deficiency anaemia – on the health and education outcomes of adolescent girls, and galvanize the support of policymakers to prioritize investment in adolescent nutrition to scale up proven, low-cost, high-impact interventions for the prevention of iron-deficiency anaemia and improved nutrition education.

Speaking at the launch event, Minata Samate Cessouma, the AU Commission’s Commissioner for Health, Humanitarian Affairs and Social Development, called for action advocacy for the prioritization of adolescent nutrition in AU member states.

The commissioner urged member states to (among other things): prioritize adolescent nutrition in their programs and budgets, advocate for adolescent nutrition through the engagement of young people to reduce the prevalence of anaemia among girls, promote national policies and development plans that address iron-deficiency anaemia through multisectoral approaches, and mobilize resources for scale-up of proven low-cost, high-impact interventions for preventing iron-deficiency anaemia and improved nutrition education in adolescent girls.

“Anaemia impairs cognitive functioning, compromises school performance, reduces productivity and affects current and future reproductive health,” said Samate. “This is why it’s imperative for all AU member states to make reducing it a priority, so that adolescent girls can reach their full potential, and be active contributors to strong, prosperous African economies.”

Source: Ethiopian News Agency