Month: May 2025

GENEVA, May 25, 2025 /PRNewswire/ — Edan Instruments, Inc. (300206.SZ), a leading global medical device company, participated in the Geneva Health Forum (GHF) 2025 Satellite Symposium, held as a side event of the World Health Assembly (WHA). Titled “China’s Medical Technology Innovation and Its Implementation for Global Health,” the event took place on May 20 in Geneva and was co-organized by Tsinghua University and the Université de Genève. It brought together innovators, policymakers, and development partners to explore how Chinese medical technology is advancing equitable healthcare, particularly in low- and middle-income countries (LMICs).

Representing EDAN, Co-Founder Mr. Xicheng Xie delivered a keynote sharing the company’s experience in delivering accessible innovation to underserved communities. “Real innovation isn’t just about cutting-edge technology — it’s about bringing the right solutions to the people who need them the most,” said Mr. Xie, reflecting on the company’s three-decade journey and the evolving meaning of innovation.

In that spirit, Mr. Xie highlighted EDAN’s efforts to develop medical technologies that are accessible, practical, and impactful in real-world settings. He shared detailed of an ongoing initiative using EDAN’s Nano Series handheld diagnostic ultrasound system to support basic prenatal care in resource-limited environments. The project focuses on equipping primary healthcare workers with tools for early screening and timely referral for at-risk pregnancies. He also noted other impactful technologies, including palm-sized fetal dopplers, EDAN’s IQ intelligent algorithm, and its smart ECG web platform — each designed to bridge infrastructure gaps and reduce reliance on scarce medical personnel.

With a long-standing presence across both high-end and resource-limited markets, EDAN has built a truly global footprint – from Europe to Africa. To strengthen local engagement and ensure more responsive service, it has established 22 subsidiaries worldwide. This localized support, combined with a commitment to frontline feedback, drives continuous product improvement and meaningful impact.

EDAN is also actively involved in a range of meaningful projects across LMICs, working alongside NGOs, public health agencies, and development partners. These include maternal health and women’s care initiatives in South Africa, portable diagnostic deployments in West Africa, and ultrasound screening programs in Latin America. Each year, nearly 1,000 ultrasound devices are deployed globally through NGO-led programs. These partnerships not only expand access to essential care but also help build local capacity through training and support.

“At EDAN, we believe in bringing innovation and value together to improve the human condition,” Xie concluded. “That mission is at the core of everything we do — from product design to global partnerships.”

As EDAN celebrates its 30th anniversary in 2025, the company remains steadfast in its mission to deliver innovation that matters — especially for those who need it most.

About Edan Instruments, Inc.
EDAN is dedicated to improving the human condition around the world by delivering value-driven, innovative, and high-quality medical products and services, pioneering a comprehensive line of medical solutions that address a broad range of healthcare practices including Patient Monitoring, Diagnostic ECG, OB/GYN, Ultrasound Imaging,  Point-of-Care Testing, In-Vitro Diagnostics, and Animal Care. 

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SOURCE EDAN Instruments, Inc.

• Memorial Day Weekend celebration in Miami Beach, including the world-class Hyundai Air & Sea Show®, takes place May 24-25
• Hyundai donates $50,000 to Folds of Honor
• Hyundai deepens commitment to military and veterans, honored with multiple national recognitions in 2024–2025

MIAMI, May 24, 2025 /PRNewswire/ — Hyundai proudly announces the return of the National Salute to America’s Heroes for Memorial Day weekend, May 24-25, 2025, on the iconic sands of Miami Beach. Now in its ninth year, this free two-day patriotic extravaganza remains the nation’s premier celebration honoring the U.S. military, first responders, and their families. Featuring the thrilling Hyundai Air & Sea Show® and an engaging display village complete with interactive exhibits, simulators, and entertainment suitable for all ages, this event promises fun and excitement for the whole family.

Since its debut in 2017, the National Salute to America’s Heroes has evolved into the premier U.S. Military celebration and remembrance event held annually during Memorial Day weekend. This event stands as a cornerstone of Hyundai’s enduring dedication to supporting the U.S. military. Continuing this commitment for the fifth consecutive year, Hyundai will contribute $50,000 to Folds of Honor, facilitating scholarships for the spouses and children of America’s fallen and disabled service members.

“At Hyundai, we take immense pride in honoring the brave men and women of the U.S. military and first responders who dedicate their lives to protecting our freedoms. The Hyundai Air & Sea Show® is more than just an event – it’s a tribute to their service, a celebration of their courage, and a reminder of the sacrifices made on our behalf,” said Randy Parker, president and CEO, Hyundai Motor North America. “As we continue our partnership with the National Salute to America’s Heroes, we reaffirm our unwavering commitment to supporting the military community and creating meaningful experiences that bring people together in gratitude and respect.”

“We are deeply honored to support the U.S. military and pay tribute to America’s heroes each Memorial Day,” said Michael Orange, vice president, national sales, Hyundai Motor America. “Our commitment to the military community is unwavering, and we are proud to help ensure this important tradition endures. This year, we are especially honored to continue our support for Folds of Honor with a $50,000 donation, helping provide educational scholarships to the spouses and children of America’s fallen and disabled service members.”

“Thanks to the support of Hyundai, we are able to create a national signature event that honors and pays its respects to the men and women of our military and first responders,” said Mickey Markoff, executive producer, Hyundai Air & Sea Show. “There is no better time than Memorial Day weekend to pay tribute to our military and those who have paid the ultimate sacrifice on behalf of our freedom.”

National Salute to America’s Heroes Event Details
The National Salute to America’s Heroes is headlined by the Hyundai Air & Sea Show®—proudly known as The Greatest Show Above the Earth™. This awe-inspiring Memorial Day Weekend tradition honors the men and women of the United States military and first responder agencies through thrilling demonstrations on land, sea, and in the air. The event is free and open to the public, with prime viewing areas along Miami Beach from 1st to 10th Street and from 14th to 15th Street.

Expanding across five city blocks, the Florida Power & Light Patriot Display Village (open 12:00 p.m. – 5:00 p.m.) delivers an immersive, hands-on experience showcasing the strength, technology, and innovation of the U.S. Armed Forces. Located east of Lummus Park along Ocean Drive between 11th and 14th Streets, the Florida Power & Light Patriot Display Village features an impressive lineup of military equipment including an M1 Abrams tank, an F-16 fighter jet, rifle ranges, tactical gear, and interactive exhibits. Among these, the Hyundai Hangar stands out as a patriotically themed consumer event space paying homage to the military and first responders. Positioned between 12th and 13th Street, it showcases the 2025 IONIQ 5 and 2026 IONIQ 9 with a hydration station, alongside a collaborative Letters to Heroes branded writing station, encouraging guests to send letters to U.S. Troops. Additionally, there are various interactive activities and themed giveaways to engage visitors. Outside the hangar, the 2025 Hyundai Santa Fe XRT and 2026 Palisade XRT Pro models are on display. Hyundai’s presence extends further with several activations across the area, including specially wrapped Hyundai Tucson N Line, Santa Cruz , Santa Fe , and IONIQ 9 vehicles, honoring the five branches of the military and first responders.

Another central feature is the Memorial Day Flag Remembrance Garden presented by GovX—a solemn tribute honoring the 3,000 fallen South Florida warriors who gave their lives in defense of freedom. Within the Florida Power & Light Patriot Display Village, the Monster Energy Action Zone keeps the adrenaline pumping with jaw-dropping motocross stunt shows by the world-renowned Keith Sayer’s FMX Demonstration Team. Featuring high-flying tricks, gravity-defying jumps, and thrilling acrobatics, scheduled performances take place several times daily, offering nonstop excitement for ground-level spectators.

For younger guests, the Nicklaus Children’s Hospital Kids Zone presents the Stay Fit Aviation-Themed Fun Zone—an engaging, activity-packed experience with aviation-themed obstacle courses, rock climbing walls, bungee jumping, inflatables, photo ops, and an interactive activation with the Miami Children’s Museum, blending fun with fitness and education. Guests can also refuel at the Mission BBQ Food Court, featuring culinary favorites like Bolay and other delicious bites throughout the day.

Hyundai’s Military Support
Hyundai demonstrates its steadfast support for the U.S. Military through its Stars and Stripes employee resource group, dedicated to recognizing veterans, active-duty service members, and their families within the company. Furthermore, Hyundai’s Veteran Employment Transition program actively seeks to recruit military veterans for parts and service positions at Hyundai dealerships. The company offers veterans complimentary access to its factory training centers across the United States, providing both in-person and online courses. This initiative enables veterans to begin their automotive career journey even before transitioning out of the military.

Hyundai also offers discounts for eligible active duty, reservist/National Guard veteran, and retired U.S. military personnel through its special military program. Hyundai offers a $500 incentive to the military and first responders on all its vehicles. For additional details, please visit Hyundai Military Program and Hyundai First Responders Program.

Hyundai Motor America continues to earn national recognition for its steadfast support of veterans, active-duty military personnel, and their families. In 2025, Hyundai was honored as a VETS Indexes 3 Star Employer and as a VIQTORY Military Friendly® Employer and Military Spouse Friendly® Employer, reflecting its commitment to fostering a military-friendly workplace and providing meaningful career opportunities and flexibility for military spouses. Additionally, Hyundai was named to the 2024 Military Times Best for Vets: Employers list, which recognizes organizations with exemplary support for veterans and military-connected employees as well one of U.S. Veterans Magazine’s “Top Veteran-Friendly Companies” for its commitment to hiring and supporting veterans. These achievements underscore Hyundai’s ongoing dedication to creating opportunities for veterans and military families, promoting an inclusive workplace, and supporting those who have served our nation.

About National Salute to America’s Heroes 
The National Salute to America’s Heroes presented by Hyundai is a nationwide two-day celebration of the true spirit of Memorial Day, held in Miami Beach, Florida featuring the Hyundai Air & Sea Show®. The Hyundai Air & Sea Show® focuses on honoring and paying tribute to the military who protect the freedoms of all Americans and those who have paid the ultimate sacrifice. The Hyundai Air & Sea Show® will be livestreamed starting at Noon on Saturday, May 24, and Sunday, May 25, 2025, presented by Northrop Grumman. The livestream will include real-time coverage, professional commentary, interviews, and exclusive behind-the-scenes access. Viewers worldwide can tune in at www.USASalute.com to experience this patriotic spectacle from anywhere

Hyundai Motor America
Hyundai Motor America offers U.S. consumers a technology-rich lineup of cars, SUVs, and electrified vehicles, while supporting Hyundai Motor Company’s Progress for Humanity vision. Hyundai has significant operations in the U.S., including its North American headquarters in California, the Hyundai Motor Manufacturing Alabama assembly plant, the all-new Hyundai Motor Group Metaplant America and several cutting-edge R&D facilities. These operations, combined with those of Hyundai’s 850 independent dealers, contribute $20.1 billion annually and 190,000 jobs to the U.S. economy, according to a recent economic impact report. For more information, visit www.hyundainews.com.

Hyundai Motor America on Twitter | YouTube | Facebook | Instagram | LinkedIn | TikTok

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SOURCE Hyundai Motor America

VANCOUVER, BC, May 23, 2025 /PRNewswire/ — GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (the “Company”), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, announces the results of the Annual General and Special Meeting (AGM) that was held today.

The shareholders elected all of management’s director nominees being Mark Achtemichuk, Fraser Atkinson, Malcolm Clay, Sebastian Giordano, David Richardson and Brendan Riley.

The shareholders also re-approved the Company’s 2022 Equity Incentive Plan and appointed BDO Canada LLP as the Company’s auditors for the ensuing fiscal year.

Following the AGM the Directors of the Company appointed the following officers of the Company for the ensuing year:  Fraser Atkinson – Chairman and Chief Executive Officer, Brendan Riley – President and Michael Sieffert – Chief Financial Officer and Corporate Secretary.

Contact

Fraser Atkinson, CEO 
(604) 220-8048

About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo vans and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose-built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. © 2025 GreenPower Motor Company Inc. All rights reserved.

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SOURCE GreenPower Motor Company

RINCON, Puerto Rico, May 23, 2025 /PRNewswire/ — Kent Lake PR LLC (“Kent Lake“), a holder of approximately 6.9% of the outstanding common stock of Quanterix Corporation (“Quanterix” or the “Company”) (NASDAQ: QTRX), today issued the following statement regarding the Company’s Post-Effective Amendment to its S-4 registration statement and Akoya Biosciences’ (“Akoya”) (NASDAQ: AKYA) disclosure of an unsolicited all-cash offer at $1.40-per-share.

“Quanterix’s amended merger terms (the “Amended Merger Agreement”), structured to avoid a shareholder vote, already commit the company to pay $20 million in cash alongside 8.4 million newly issued shares in its misguided pursuit of Akoya. On May 20, 2025, Akoya disclosed an unsolicited third-party all-cash tender offer at $1.40-per-share, a 22% premium over Akoya’s 30-day VWAP and Quanterix’s implied offer price under the Amended Merger Agreement. To match this clearly superior proposal, Quanterix would need to increase its cash consideration by an additional $20 million.

The Quanterix Board must not double down on this value-destructive merger.

At approximately $4.75-per-share, Quanterix trades at a material discount to its net cash position, reflecting investor concerns over the significant value destruction resulting from this transaction. The post-effective amendment filed by Quanterix clearly acknowledges stockholder opposition as a key driver behind renegotiating the merger terms, ultimately leading to the removal of the shareholder voting requirement:¹

• “…Dr. Toloue had communicated…that some of Quanterix’s largest stockholders expressed concerns that the market had deteriorated…and, as a result, no longer intended to vote in favor of the share issuance contemplated in the Original Merger Agreement.”
     
• “Representatives of Spotlight conveyed their estimation that the likelihood of obtaining Quanterix stockholder approval for the share issuance on the terms set forth in the Original Merger Agreement was low.” 
     
• “…the Akoya Strategic Transactions Committee discussed the high degree of risk that the conditions to the closing of the transaction, on the terms contemplated in the Original Merger Agreement, would not be satisfied, and therefore that the transaction would not be consummated.”

At this point, we believe the pursuit of an alternative competitive proposal by the Quanterix Board would place Quanterix’s balance sheet at significant risk.

Dr. Toloue promises the combined company will break even in 2026, but his projections have already been missed twice in 2025 and cannot be relied upon. Simple math does not support his claims for break-even in 2026, given the combined companies are currently burning over $80 million. Even if he achieves the $55 million in synergies he promises, it will still leave Quanterix burning $25 million in 2026. Counting on significant revenue growth in 2026 is far too risky given the proposed 2026 NIH budget cuts.

If Quanterix raises its cash offer for Akoya, that will create significant balance sheet risk during a period of industry turmoil and would represent a fiduciary breach by the Quanterix Board. Additionally, if the Board further pursues Akoya, they should understand they are doing so against the will of their own shareholders.

Quanterix currently has an enterprise value of negative $80 million. While Dr. Toloue continues to blame the macro environment for Quanterix’s share price decline, we challenge him to identify any other life science tools company generating over $100 million in revenue and trading at a negative enterprise value. This proves that investors see value destruction, not value creation, in the Akoya deal. If the Board chooses to ignore this strong market signal yet again, it demonstrates they are continuing to act against the expressed views of their largest shareholders, as well as the market overall.

In response to this clearly superior third-party proposal for Akoya, we call upon the Quanterix Board to allow Akoya to accept a superior proposal without increasing the purchase consideration offered by Quanterix. Increasing the Akoya purchase consideration in any way while simultaneously denying Quanterix shareholders their right to vote on the Merger, which the Board knows Quanterix shareholders do not support, and puts Quanterix’s balance sheet further at risk, would represent a breach of fiduciary duty.

Additionally, if the Quanterix Board undervalues their own shares to such an extent that they are willing to weaken their balance sheet significantly and issue shares at a negative enterprise value to acquire a struggling Akoya, they should instead run a strategic alternatives process on Quanterix and sell the company to the highest bidder.”

About Kent Lake

Kent Lake Partners LP is an investment fund founded by Ben Natter in 2019 with a focus on small and mid-capitalization public equities, particularly in the healthcare space. Mr. Natter has over a decade of successful public healthcare equity investing experience.

Certain Information Concerning the Participants

Kent Lake Partners LP (“Kent Lake Partners”), together with the other Participants (as defined below), intends to file a preliminary proxy statement and an accompanying GOLD universal proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes for, among other matters, the election of its slate of highly-qualified director nominees at the 2025 annual meeting of stockholders of Quanterix Corporation, a Delaware corporation (the “Company”).

KENT LAKE PARTNERS STRONGLY ADVISES ALL SHAREHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS, INCLUDING ITS GOLD PROXY CARD, AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS’ PROXY SOLICITOR.

The participants in the proxy solicitation are currently anticipated to be Kent Lake Partners, Kent Lake PR LLC (“Kent Lake PR”) and Benjamin Natter (collectively, the “Kent Lake Parties”); and Alexander G. Dickinson, Bruce Felt and Hakan Sakul (the “Kent Lake Nominees” and collectively with the Kent Lake Parties, the “Participants”).

As of the date hereof, Kent Lake Partners directly beneficially owned 2,688,472 shares of the Company’s Common Stock, $0.001 par value per share (the “Common Stock”). Kent Lake PR, as the investment adviser and as the general partner to Kent Lake Partners, may be deemed to beneficially own the 2,688,472 shares of Common Stock beneficially owned by Kent Lake Partners. Mr. Natter, as the Managing Member of Kent Lake PR, may be deemed to beneficially own the 2,688,472 shares of Common Stock beneficially owned by Kent Lake Partners. None of the Kent Lake Nominees beneficially own any shares of Common Stock. All of the foregoing information is as of the date hereof unless otherwise disclosed.

Investor Contacts

Ben Natter, 415-237-0007
info@kentlakecap.com 

Saratoga Proxy Consulting LLC
John Ferguson / Ann Marie Mellone
212-257-1311 / 888-368-0379
info@saratogaproxy.com 

¹ Amended Background to the Merger, beginning on page 222 of the Post-Effective Amendment, filed May 21, 2025.

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SOURCE Kent Lake PR LLC

ISS Recognizes There is No Case for Change

Dynavax’s Superior Strategy and Current Board are Best Equipped to Deliver Significant Long-Term Stockholder Value

Dynavax Comments on Deep Track’s Misleading Supplemental Materials

Urges Stockholders to Follow ISS Recommendation and Vote “FOR” ALL Four of Dynavax’s Highly Qualified Director Nominees on the GOLD Proxy Card Today

EMERYVILLE, Calif., May 23, 2025 /PRNewswire/ — Dynavax Technologies Corporation (Nasdaq: DVAX) (“Dynavax” or the “Company”), a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines, today announced that leading independent proxy advisory firm, Institutional Shareholder Services (“ISS”), has recommended that Dynavax stockholders vote “FOR” all four of the Company’s director nominees standing for election – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – at the Company’s upcoming Annual Meeting of Stockholders on June 11, 2025.

In its May 23, 2025, report, ISS noted that Deep Track has failed to present a compelling case for change. ISS recognizes that Dynavax’s current strategy is the best path forward for continued long-term stockholder value creation, the Board has engaged in a proactive refreshment process, and the Board has engaged earnestly with Deep Track¹:

• “Despite recent challenges, the company’s strategy is logical, is well understood by shareholders, and is being overseen by a proven leadership team that has driven long-term outperformance. Moreover, there is no reason to conclude that the board would be unwilling to embrace a different path forward if necessary. As such, the dissident has not presented a compelling case for change.”
• “The basic logic underpinning the company’s strategy is self-evident. There are demonstrated potential uses for the company’s adjuvant beyond Heplisav, and the company possesses established commercialization capabilities. Moreover, this approach has been in place since the refocus in 2019, and has been consistently messaged to shareholders. Since that time, the company has successfully commercialized Heplisav, and has enjoyed the type of long-term success that evades most biopharmaceutical companies.”
• “There are serious concerns with the dissident’s presentation of TSR… The dissident’s attempt to suggest otherwise through a blatantly distorted TSR analysis has only diminished its credibility.”
• “The board has also demonstrated ongoing refreshment efforts, as six of the nine directors have been appointed since 2020.”
• “The board’s efforts to reach a settlement with the dissident appear genuine… The primary sticking point for both parties was the appointment of Erkman as a director… the dissident eventually refused to entertain any offer that did not include him.”

Dynavax’s Board of Directors issued the following statement:

The recommendation from ISS to support all of Dynavax’s highly qualified director nominees reaffirms that there is no case for change. The Company has the right strategy and Board in place to continue driving long-term stockholder value.

Our director nominees – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – bring proven strategic leadership, vaccine expertise, senior public biotechnology and M&A experience and deep industry financial expertise, all of which are critical to Dynavax. Replacing any of our directors with Deep Track’s inferior director nominees would leave Dynavax deficient in vital expertise and be detrimental to Dynavax’s value-creating strategy.

We are encouraged that ISS calls attention to Deep Track’s cherry picked and highly misleading materials. Deep Track’s latest supplemental presentation further discredits their position by including misleading information that reveals their fundamental misunderstanding of our business. Our CpG 1018® adjuvant has, and we expect will continue to, provide value as evidenced by the over $950 million in revenue generated through COVID-19 business development leveraging our adjuvant, HEPLISAV-B®’s leadership position in the adult U.S. hepatitis B vaccine market, four vaccine programs currently in development by Dynavax using CpG 1018 with the opportunity to potentially address millions of patients, and over 15 collaborations currently in preclinical and clinical development by partners utilizing CpG 1018.

Our Board has demonstrated that we take a long-term view to growth and value creation, and we are committed to returning excess capital as part of our balanced strategic plan. With 203% total return delivered to stockholders over the last five years², it is clear our strategy is working and generating superior value. Deep Track’s campaign to ultimately gain control of Dynavax and execute a one-dimensional plan to strip-mine Dynavax will destroy long-term value for all stockholders. Deep Track is deeply wrong and now is the time for stockholders to let them know.

Dynavax reminds stockholders that every vote is important, no matter how many or few shares it represents. Dynavax strongly urges stockholders vote “FOR” ALL four of Dynavax’s director nominees standing for election – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – on the GOLD proxy card today.

Dynavax stockholders who need assistance in voting their shares may call the Company’s proxy solicitor, MacKenzie Partners, at 1-800-322-2885.

Advisors

Goldman Sachs & Co. LLC is serving as financial advisor to Dynavax and Cooley LLP is serving as legal counsel.

About Dynavax

Dynavax is a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines to help protect the world against infectious diseases. The Company has two commercial products, HEPLISAV-B® vaccine (Hepatitis B Vaccine (Recombinant), Adjuvanted), which is approved in the U.S., the European Union and the United Kingdom for the prevention of infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older, and CpG 1018® adjuvant, currently used in HEPLISAV-B and multiple adjuvanted COVID-19 vaccines. For more information about our marketed products and development pipeline, visit www.dynavax.com.

Forward-Looking Statements

This communication contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to a number of risks and uncertainties. All statements that are not historical facts are forward-looking statements. Forward-looking statements can generally be identified by the use of words such as “continue,” “expect,” “will,” “plan,” “would” and similar expressions, or the negatives thereof, or they may use future dates. Forward-looking statements made in this document include statements regarding expected contributions from our current directors, expectations regarding delivering value for our stockholders, market share and size of the market, our business strategy and long-term performance. Actual results may differ materially from those set forth in this communication due to the risks and uncertainties inherent in our business, including, the risk that circumstances surrounding or leading up to our 2025 Annual Meeting may change, risks relating to our ability to commercialize and supply HEPLISAV-B, the risks that market size or actual demand for our products may differ from our expectations, risks related to the timing of completion and results of current clinical studies, risks related to the development and pre-clinical and clinical testing of vaccines containing CpG 1018 adjuvant, and risks related to the implementation of our long-term growth objectives, as well as other risks detailed in the “Risk Factors” section of our Quarterly Report on Form 10-Q for the three months ended March 31, 2025 and any periodic filings made thereafter, as well as discussions of potential risks, uncertainties and other important factors in our other filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date hereof, are qualified in their entirety by this cautionary statement and we undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Information on Dynavax’s website at www.dynavax.com is not incorporated by reference in our current periodic reports with the SEC.

Important Additional Information and Where to Find It

On April 17, 2025, the Company filed a definitive proxy statement on Schedule 14A (the “Proxy Statement”) and form of accompanying GOLD proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its 2025 Annual Meeting and its solicitation of proxies for the Company’s director nominees and for other matters to be voted on. The Company may also file other relevant documents with the SEC regarding its solicitation of proxies for the 2025 Annual Meeting. This communication is not a substitute for any proxy statement or other document that the Company has filed or may file with the SEC in connection with any solicitation by the Company. STOCKHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT, ACCOMPANYING GOLD PROXY CARD AND OTHER RELEVANT DOCUMENTS FILED WITH, OR FURNISHED TO, THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION. Stockholders may obtain a copy of the Proxy Statement, accompanying GOLD proxy card, any amendments or supplements to the Proxy Statement and any other relevant documents filed by the Company with the SEC at no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge at the Company’s website at https://investors.dynavax.com/sec-filings.

Certain Information Regarding Participants

This communication is neither a solicitation of a proxy or consent nor a substitute for any proxy statement or other filings that may be made with the SEC. The Company, its directors, its director nominees and certain of its executive officers and employees may be deemed to be participants in the solicitation of proxies for the 2025 Annual Meeting. Information regarding the names of such persons and their respective direct or indirect interests in the Company, by securities holdings or otherwise, is available in the Proxy Statement, which was filed with the SEC on April 17, 2025, including in the sections captioned “Compensation Discussion and Analysis,” “Summary Compensation Table,” “Grants of Plan Based Awards,” “Outstanding Equity Awards at Fiscal Year End,” “Pay Ratio Disclosure,” “Director Compensation,” “Certain Transactions,” “Security Ownership of Certain Beneficial Owners and Management,” and “Supplemental Information Regarding Participants in the Solicitation.” To the extent that the Company’s directors and executive officers have acquired or disposed of securities holdings since the applicable “as of” date disclosed in the Proxy Statement, such transactions have been or will be reflected on Statements of Changes in Ownership of Securities on Form 4 or Initial Statements of Beneficial Ownership of Securities on Form 3 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at www.sec.gov.

For Investors:
Paul Cox
pcox@dynavax.com
510-665-0499

Or

MacKenzie Partners, Inc.
Bob Marese / John Bryan
Toll-Free: 1-800-322-2885
DVAX@mackenziepartners.com

For Media:
Dan Moore / Tali Epstein
Dynavax-CS@collectedstrategies.com

¹ Permission to use quotes neither sought nor obtained. Emphasis added.
² As of April 17, 2025, the date Dynavax filed its definitive proxy.

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SOURCE Dynavax Technologies

BANGALORE, India, May 23, 2025 /PRNewswire/ — Direct Air Capture Device Market is Segmented by Type (Liquid Adsorption, Solid Adsorption), by Application (Food and Beverage, Greenhouse, Energy, Fuel).

The Global Direct Air Capture Device market was valued at USD 25.9 Million in 2024 and is anticipated to reach USD 1340 Million by 2031, witnessing a CAGR of 76.8% during the forecast period 2024-2031.

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Major Factors Driving the Growth of Direct Air Capture Device Market:

The global direct air capture device market is experiencing accelerated growth due to increasing pressure to achieve net-zero targets and offset residual emissions. With the convergence of policy support, technological innovation, and corporate responsibility, DAC devices are becoming central to climate mitigation strategies. Investment in R&D, integration with CCS and renewable energy, and expanding carbon markets are collectively fostering a robust ecosystem for DAC deployment. As adoption spreads across industries and regions, the market is expected to evolve rapidly, with scalability and cost reduction playing pivotal roles in determining future growth trajectories.

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TRENDS INFLUENCING THE GROWTH OF THE DIRECT AIR CAPTURE DEVICE MARKET:

The automotive industry is significantly contributing to the growth of the direct air capture (DAC) device market due to its role as a primary source of carbon emissions. As global regulatory bodies enforce stricter emission norms on vehicle manufacturers, there is a growing demand for innovative carbon offset technologies like DAC systems. Automakers are increasingly investing in carbon removal projects to achieve net-zero emissions and offset the environmental footprint of internal combustion engines. Additionally, the transition towards electric vehicles does not immediately eliminate supply chain emissions, which further fuels the adoption of DAC technologies. These devices are also being integrated into sustainable vehicle lifecycle models, providing a practical pathway for automotive companies to contribute to climate goals while enhancing brand value.

The synergy between Carbon Capture and Storage (CCS) infrastructure and direct air capture (DAC) devices plays a critical role in market expansion. CCS facilities provide a viable end-use solution for the captured CO₂ from DAC systems, enabling long-term geological storage or utilization in industrial processes. The growth of CCS networks in regions like North America and Europe makes it economically feasible to deploy DAC devices at scale, reducing logistical challenges related to CO₂ storage. Additionally, many government-backed CCS projects include DAC as part of integrated carbon management frameworks, leading to increased public and private funding for DAC technologies. As CCS adoption accelerates, it directly enhances the commercial and environmental viability of DAC, positioning it as a key component of decarbonization roadmaps across various industries.

Liquid adsorption is a fundamental mechanism in many DAC devices, and its refinement is driving the broader market growth. This technique leverages specialized solvents to selectively capture CO₂ molecules from ambient air, offering higher efficiency and lower energy requirements compared to other methods. The scalability and modularity of liquid-based DAC systems make them suitable for diverse applications, from industrial settings to urban carbon capture projects. Continuous advancements in solvent chemistry are also improving carbon capture rates and reducing operational costs, making liquid adsorption more attractive to commercial stakeholders. Furthermore, liquid systems integrate seamlessly with downstream carbon utilization processes, enhancing the circular economy potential of DAC technologies and driving investments in this segment.

A surge in corporate pledges to achieve net-zero emissions is boosting demand for DAC devices. Multinational corporations in sectors such as tech, retail, and manufacturing are seeking reliable methods to counterbalance their residual carbon footprints. DAC devices offer a measurable and verifiable solution for carbon removal, which aligns with Environmental, Social, and Governance (ESG) reporting metrics. These commitments are pushing companies to invest in DAC projects or partner with startups and technology providers. As investors and consumers pressure firms to demonstrate environmental accountability, DAC emerges as a preferred tool in long-term sustainability strategies, fueling consistent market demand.

Government incentives and regulatory frameworks are crucial in propelling the DAC device market forward. Policy instruments such as carbon pricing, tax credits, and public funding for negative emission technologies are creating favorable conditions for DAC deployment. For instance, initiatives like the U.S. 45Q tax credit and the EU Innovation Fund specifically support DAC-related projects. These programs reduce financial barriers and encourage pilot projects and commercial-scale implementations. In addition, climate policies increasingly recognize DAC as an essential element of national emission reduction strategies, prompting both private and public sectors to collaborate in deploying scalable DAC solutions.

Industries with hard-to-abate emissions, such as cement, steel, and aviation, are adopting DAC devices to meet decarbonization targets. These sectors often face limited options for direct emission reduction, making DAC a strategic alternative. Co-locating DAC systems near industrial plants allows for localized carbon offsetting and enhances operational sustainability. Moreover, integrating DAC with carbon utilization processes—like synthetic fuel production—opens up additional revenue streams. This industrial application is reinforcing DAC’s role in comprehensive decarbonization strategies and generating demand from sectors with high carbon liabilities.

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DIRECT AIR CAPTURE DEVICE MARKET SHARE

The direct air capture device market shows prominent growth across North America, Europe, and parts of Asia-Pacific. North America leads due to strong policy incentives, large-scale pilot projects, and the presence of key market players. Europe follows closely, driven by ambitious climate targets and public-private partnerships promoting carbon removal.

The Asia-Pacific region, particularly countries like Japan and South Korea, is beginning to invest in DAC technologies as part of long-term emission control strategies. Regional market dynamics are also shaped by the availability of renewable energy, CCS infrastructure, and public awareness of climate issues, which influence adoption rates.

Key Companies:

• CarbonCapture Inc
• Carbon Engineering
• Global Thermostat
• Climeworks
• Sustaera
• Heirloom
• Carbfix
• Mission Zero
• AirCapture LLC

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–          Passive Direct Air Capture Market

–          The global market for Large-scale Direct Air Capture (DACS) Facilities was valued at USD 355 Million in the year 2023 and is projected to reach a revised size of USD 801 Million by 2030, growing at a CAGR of 11.1% during the forecast period.

–          The global market for Membrane-Based Direct Air Capture Technology was valued at USD 32 Million in the year 2024 and is projected to reach a revised size of USD 112 Million by 2031, growing at a CAGR of 11.6% during the forecast period.

–          Direct Air Capture and Storage Technology Market

–          The global Direct Air Capture Machines market was valued at USD 15 Million in 2023 and is anticipated to reach USD 468.2 Million by 2030, witnessing a CAGR of 76.8% during the forecast period 2024-2030.

–          Direct Air Carbon Capture and Storage (DACCS) Market

–          The global market for Carbon Capture was estimated to be worth USD 4.41 billion in 2023 and is forecast to a readjusted size of USD 6.89 Billion by 2030 with a CAGR of 6.6% during the forecast period 2024-2030.

–          Commercial Carbon Capture market was valued at USD 1265 Million in 2023 and is anticipated to reach USD 2552 Million by 2030, witnessing a CAGR of 10.3% during the forecast period 2024-2030.

–          Industrial Scale Carbon Capture Market

–          The global market for Carbon Capture Blowers was valued at USD 647 Million in the year 2024 and is projected to reach a revised size of USD 918 Million by 2031, growing at a CAGR of 5.6% during the forecast period.

–          Stationary Carbon Capture Unit Market

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