Month: July 2025

SHANGHAI, July 9, 2025 /PRNewswire/ — China‘s hotel and foodservice equipment industry is entering a transformative stage, driven by three converging forces: automation, sustainability, and space optimization. As digital technologies reshape operational models, the market is rapidly shifting toward intelligent, low-emission, and compact solutions—positioning China not only as a manufacturing hub but also as a high-potential consumption market.

AI-powered cooking systems and IoT-connected kitchens are gaining momentum, with smart fryers, real-time monitoring tools, and multifunctional appliances boosting kitchen efficiency and consistency. The global smart foodservice equipment segment is projected to grow at over 10% CAGR through 2032, with China leading in adoption and scale.

Sustainability remains a critical innovation driver. As China accelerates its carbon neutrality roadmap toward its 2030 and 2060 climate targets, procurement is increasingly guided by energy performance and environmental certifications such as the China Energy Label and CQC. Globally, the commercial catering equipment market is expected to exceed USD 27 billion by 2026, fueled by growing demand for water-efficient, solar-integrated, and emissions-reducing solutions aligned with ESG goals.

This momentum sets the stage for HOTELEX Shanghai 2026, held from March 30 to April 2. As one of Asia’s leading hospitality and catering trade shows, HOTELEX connects global brands with hotel chains, F&B groups, and procurement leaders across China’s evolving foodservice landscape.

For international suppliers looking to scale in a data-driven, sustainability-conscious, and innovation-focused market, HOTELEX 2026 is the gateway to growth.

Event Details:
Date: March 27 – April 2, 2026
Venue: National Exhibition and Convention Center (NECC), Shanghai

Booth Inquiry: Junyan.jin@imsinoexpo.com
Media Cooperation: Lizzy.chen@imsinoexpo.com

View original content:https://www.prnewswire.com/news-releases/catering-equipment-trends-powering-growth-ahead-of-hotelex-2026-302501131.html

SOURCE HOTELEX

• Initial capital base of US$200 million, acting as a catalyst to unlock further capital and attract high-quality, scalable investment opportunities aligned with Oman Vision 2040
• First dedicated energy transition fund launched in Oman to advance Vision 2040 and Net Zero 2050 goals and develop the next phase of advanced energy transition projects
• OIA partners with Templewater to attract globally proven energy solutions to support Oman’s energy transition and economic diversification
• The Fund aims to offer investors healthy and sustainable financial returns while contributing to combating climate change

HONG KONG and MUSCAT, Oman, July 9, 2025 /PRNewswire/ — Future Fund Oman (FFO), an Oman Investment Authority (OIA) Fund and Templewater, a leading pan-Asia alternative asset manager announced today the launch of the Energy Transition Fund (“the Fund”). This marks the first dedicated fund of its kind in the Sultanate of Oman, designed to accelerate investment in energy transition and advanced manufacturing in the country, delivering healthy financial returns and further the Sultanate’s long-term economic diversification efforts under Oman Vision 2040.

The Fund, managed by Templewater, launches with an initial capital base of US$200 million, anchored by a US$100 million commitment from FFO, and matched with a US$100 million commitment from Templewater. This initial capital base serves as a catalyst to unlock further capital and attract high-quality, scalable investment opportunities aligned with Oman Vision 2040. The partnership has capacity within its extended network to support larger deal sizes, ensuring flexibility and responsiveness to the most compelling opportunities. The Fund also reinforces OIA’s strategic role in embedding national economic priorities within international investments, while leveraging global partnerships to attract foreign direct investment, advanced expertise, and technology into key sectors of the Omani economy.

The Fund will focus on high-impact sectors including clean molecules, energy storage, e-fuels, smart mobility, renewables, and green data centers. Templewater will leverage its global partner network and technical expertise to localise scalable, innovative solutions within Oman – aligned with FFO’s mandate to stimulate the national economy, foster strategic investment partnerships, and unlock economic value for the Sultanate and investors.

This initiative reflects OIA’s value as a long-term investment partner, adding strategic insight, de-risking capabilities, and deep regional access to unlock institutional-grade opportunities. The Fund also contributes to Oman’s ambition to position itself as a clean energy hub and a destination for future-focused global capital.

The Fund has been structured to generate healthy and sustainable financial returns while contributing to positive climate impact. Built as a platform to mobilize further investment, the Fund aims to co-develop commercially viable energy transition projects. With a long-term growth trajectory, it will scale as it identifies projects aligned with the Sultanate’s climate targets and industrial development goals.

His Excellency Abdulsalam Al Murshidi, President of OIA, affirmed that this partnership represents a key strategic step in positioning the Sultanate of Oman as a regional and global hub for clean and renewable energy solutions. “OIA seeks to attract expertise and global best practices to support Oman’s ambition to become a leading exporter of clean molecules and renewable energy solutions,” he said.

Cliff Zhang, Chairman and CEO of Templewater, said: “We are honored to partner with FFO to co-develop flagship energy transition projects and localize cutting-edge technologies. This Fund reflects not only our commitment to investing in solutions that deliver financial returns and climate benefits, but also our confidence in Oman’s supportive forward-looking environment. Templewater will establish a local presence in Muscat to work closely with our partners at FFO and OIA, setting an example for others across the region.”

Oman has emerged as a frontrunner in global energy transition and as a strategic hub for clean energy and advanced manufacturing, underpinned by landmark export deals with major international players. With a stable investment climate, pro-business regulatory framework, and a strategic location at the crossroads of global trade, the Sultanate offers strong fundamentals for long term partnerships and capital deployment.

This launch builds on Templewater’s successful track record in energy transition and decarbonization. As a specialist investor driving the future of energy and industry across Asia, Templewater draws on its strong heritage in green technology and manufacturing, integrating deep industrial know-how with global financial, professional services, and technical expertise.

The Fund provides a governance-ready, de-risked platform for investors seeking exposure to Oman’s energy transition. Templewater and FFO will continue to identify and co-develop high-growth commercial opportunities aligned with the Sultanate’s national vision and net-zero roadmap.

About Future Fund Oman

Established by Oman Investment Authority as per directives from His Majesty Sultan Haitham bin Tarik, the Fund comprises a capital totaling OMR 2 billion. The Fund offers an array of funding opportunities for selected investors and partners looking to play a role in enhancing and stimulating Oman’s economic landscape.

About Oman Investment Authority

Oman Investment Authority (OIA) is the investment arm of the Sultanate of Oman. It is mandated with managing, investing, and growing the Sultanate’s assets locally and internationally. Its investment funds geographically diverse, with investments on every continent, and cover a wide range of sectors, including food and fisheries, energy, logistics, Information and Communication Technology (ICT), public services, financial and investment services, tourism, mining, manufacturing, and aviation. It plays a key role in driving sustainable economic development and achieving Oman’s vision of becoming a more attractive investment destination.

About Templewater

Templewater is an Asia based alternative asset manager founded in 2018. Templewater provides its investors, which include global institutions, family offices and high-net-worth individuals, with two (2) core pan-Asia focused investment strategies: (a) private equity focusing mid-market buyout, and (b) decarbonization and energy transition growth equity investments. Templewater’s mission is to provide financial and human capital, operational expertise, corporate governance framework, and integrity to build leading businesses.

To learn more about Templewater, please visit www.templewater.com and follow Templewater on LinkedIn at www.linkedin.com/company/templewater.

View original content:https://www.prnewswire.com/news-releases/future-fund-oman-and-templewater-launch-the-sultanates-first-energy-transition-fund-302501087.html

SOURCE Templewater; Future Fund Oman; Oman Investment Authority

LONDON, July 9, 2025 /PRNewswire/ — Today at the Google Cloud Summit London, Additive Catchments and Google Cloud announced a strategic collaboration to scale trusted, AI-powered infrastructure for river health in the UK. Their goal: to make high-integrity, real-time environmental data available across entire catchments, enabling better decision-making by regulators, utilities, investors, and more. These insights can help these stakeholders unlock cleaner water, healthier ecosystems, and faster, more confident compliance with environmental regulations.

At the heart of the two companies’ collaboration is CMaaS® (Catchment Monitoring as a Service), Additive Catchments’ flagship platform, which provides a real-time diagnostic layer for rivers and delivers environmental data, AI-powered early warnings, and interactive dashboards. Designed for regulators, utilities, investors, and communities, the platform is supported by a network of technology and delivery partners – including Capgemini, Siemens, The Rivers Trust, and AtkinsRéalis.

Leveraging Google Cloud technologies like BigQuery, Vertex AI, Earth Engine, and Looker, CMaaS® delivers instant, high-integrity insights across river basins.

“This alliance combines the agility and environmental expertise of Additive Catchments with the scale and technical excellence of Google Cloud,” said Rob Passmore, CEO of Additive Catchments. “It ensures clients have access to consistent, secure, and credible data services, driving a new standard of innovation in environmental decision-making.”

To enable delivery at scale, Additive Catchments brought on Capgemini as its lead implementation and cloud integration partner. Building on its longstanding core partnership with Google Cloud, Capgemini brings a proven track record in environmental data engineering, digital governance, and AI-led transformation. Its role ensures that CMaaS® can be deployed reliably and effectively across diverse catchments, combining technical strength with delivery excellence.

“By combining the scale of Google Cloud, the delivery power of Capgemini, and the intelligence of Additive Catchments, we’re establishing a world-class foundation for scalable water resilience,” said Quinton Davies, CTO at Additive Catchments. “This is not just a UK solution, it’s a globally exportable model for digital catchment management.”

“We’re proud to collaborate with Additive Catchments to address one of the world’s most urgent environmental challenges,” said Maureen Costello, Vice President, UKI and SSA at Google Cloud. “This work is a clear example of how cloud technology, applied responsibly, can support large-scale ecosystem resilience and foster greater public trust.”

This partnership reflects rising demand for trusted, transparent environmental infrastructure. It demonstrates how civic ventures, hyperscalers and integrators can co-design systems that foster public confidence, regulatory alignment and collective action.

About Additive Catchments
Additive Catchments is a mission-led, majority non-profit-owned company focused on restoring trust in environmental systems through independent, data-driven insight.

We are the creators of the River Health Index™, a national benchmark that combines environmental data and public sentiment to track trust, progress, and accountability. We also deliver CMaaS®, our water quality monitoring service designed to meet the rising expectations of the public, regulators, and investors.

As confidence in water governance declines, we help utilities, regulators, and communities reconnect around credible data. Our work supports mission-aligned leadership, strengthens social licence to operate, and accelerates collective action for healthier, more trusted rivers.

About Google Cloud
Google Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud offers a powerful, fully integrated and optimized AI stack with its own planet-scale infrastructure, custom-built chips, generative AI models and development platform, as well as AI-powered applications, to help organizations transform. Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner.

View original content to download multimedia:https://www.prnewswire.com/news-releases/additive-catchments-and-google-cloud-collaborate-to-build-trusted-ai-powered-infrastructure-to-improve-river-health-302500724.html

SOURCE Google Cloud

LONDON, July 9, 2025 /PRNewswire/ — Formula E and its Official Cloud Partner, Google Cloud, today announced a new initiative to make motorsport more accessible for blind and visually impaired fans through an innovative, AI-powered, audio race report.

Unveiled at the Google Cloud Summit in London by Formula E CEO Jeff Dodds, the project uses Google Cloud’s generative AI technology to create rich, descriptive audio summaries of every E-Prix race. The reports will provide fans with a dynamic recap that captures the excitement and key moments of the race, available on-demand shortly after the chequered flag.

The initiative was born from a Google Cloud Hackathon held at the 2024 London E-Prix. It is being developed in close partnership with the Royal National Institute of Blind People (RNIB) to ensure the final product meets the needs of visually impaired users. Formula E and Google Cloud will work with the RNIB to conduct focus groups and user testing during the upcoming race weekends in Berlin and London, with a full rollout planned for Season 12.

Jeff Dodds, CEO, Formula E, said:
“At Formula E, we believe the thrill of electric racing should be accessible to everyone. This innovative collaboration with Google Cloud is a fantastic example of how technology can be used for good, creating a brand-new way for blind and visually impaired fans to experience the drama and emotion of our sport. By working closely with the RNIB, we are ensuring this innovation is truly inclusive and fit for purpose, so that no fan is left behind.”

John Abel, Managing Director, Specialised Software, Google Cloud, said:
“For too long, the visual nature of racing has been a barrier for fans who are blind or visually impaired. Google Cloud’s AI technology will act as a digital storyteller, creating a vivid audio narrative that brings the speed, strategy, and excitement of Formula E to life. We are proud to work alongside a partner like Formula E that shares our passion for using innovation to break down barriers and connect people through shared experiences.”

Sonali Rai, RNIB’s Media Culture and Immersive Technology Lead said:
“Audio description transforms how blind and partially sighted motor sport fans can fully engage in enjoying the full racing spectacle – taking in the visceral sounds of cars on the track while feeling the passion of the crowd.

“RNIB has been working with Formula E and Google Cloud on this AI-powered podcast which promises to give a full picture of the race in an accessible and engaging way for blind and partially sighted racing fans. Formula E’s commitment to working directly with the blind and partially sighted community to develop this technology is exactly the right approach and sets a fantastic standard in inclusivity for other sports to follow and stay on track with new advances in innovation.”

How The Technology Works:

The audio report is created through a multi-stage process powered by Google Cloud’s AI platform Vertex AI:

1. Transcription: Google’s Chirp model accurately transcribes live race commentary.
2. Analysis and Generation: Google’s Gemini models then analyse the transcribed commentary alongside live timing data and other official race information. The audio report identifies key events – such as overtakes, incidents, and strategic pit stops – and generates a fact-based, engaging race summary.
3. Audio Production: Finally, the text is converted into natural, expressive speech using advanced text-to-speech technology, creating a polished audio report ready for distribution.

The entire process is completed within minutes of the race’s conclusion. The reports will be available globally on Spotify and other popular audio platforms in more than 15 languages, including English, Spanish, French, German, Mandarin, and Arabic.

About Formula E and the ABB FIA Formula E World Championship:
As the world’s first all-electric FIA World Championship and the only sport certified net zero carbon since inception, the ABB FIA Formula E World Championship brings dramatic racing to the heart of some of the world’s most iconic cities providing an elite motorsport platform for the world’s leading automotive manufacturers to accelerate electric vehicle innovation. 

The Formula E network of teams, manufacturers, partners, broadcasters, and host cities are united by a passion for the sport and belief in its potential to accelerate sustainable human progress and create a better future for people and planet. www.FIAFormulaE.com 

For Formula E media enquiries, please contact – media@fiaformulae.com 

About ABB:

ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and more than 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com

About Google Cloud: 

Google Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud offers a powerful, fully integrated and optimized AI stack with its own planet-scale infrastructure, custom-built chips, generative AI models and development platform, as well as AI-powered applications, to help organizations transform. Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner.

View original content to download multimedia:https://www.prnewswire.com/news-releases/formula-e-and-google-cloud-to-collaborate-on-inclusivity-podcast-for-visually-impaired-302500703.html

SOURCE Google Cloud

OSLO, Norway, July 9, 2025 /PRNewswire/ — Elkem ASA has been informed that the Norwegian Ministry of Climate and Environment (KLD) has concluded that Norwegian silicon, ferrosilicon and manganese producers were unequally treated compared to European Union producers in the allocation of free emission allowances under the EU Emissions Trading System (EU ETS) by the Norwegian authorities for the period 2021-2025. The case has been sent to the Norwegian Environment Agency (Miljødirektoratet) to be processed anew.

The Norwegian Environment Agency will re-evaluate the case to ensure that the allowance allocation process is based on the same interpretation of the EU regulations as that being applied by other EU countries.

Under the EU ETS, industrial installations considered to be at significant risk of carbon leakage receive free allowances to support their competitiveness. Carbon leakage refers to the situation that may occur if, for reasons of costs related to climate policies, businesses were to transfer production to other countries with lower emission constraints. This could lead to an increase in their total emissions. For the period 2021-2025, certain industrial installations in Norway, including Elkem’s five silicon products plants, were allocated free emission allowances at approximately 72 percent of the historical emissions, while EU counterparties received approximately 94 percent.

“Elkem’s complaint highlights the disparities in allowance allocations that have affected the competitiveness of Norwegian metal companies compared to their counterparts in other EU countries. The support from the Norwegian Ministry of Climate and Environment underscores the importance of fair and equitable treatment in the allocation of allowances, which is crucial for maintaining a level playing field in the industry,” says Inge A. Grubben-Strømnes, SVP Elkem Silicon Products.

Based on Elkem’s understanding, the letter from the Norwegian Ministry of Climate and Environment implies that Elkem will receive approximately 1.3 million additional free emission allowances for the period 2021-2025.

For further information, please contact:

Odd-Geir Lyngstad
VP Finance & Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com  
Marianne Stigset
VP Corporate Communications & Public Affairs
Tel: +47 411 88 482
Email: marianne.stigset@elkem.com  

This release contains inside information related to Elkem ASA pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This release is issued by Odd-Geir Lyngstad, VP Finance and Investor Relations, Elkem ASA. Date and time of publication: 08:00 CEST, 09.07.2025.

About Elkem

Elkem is one of the world’s leading providers of advanced silicon-based materials shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,200 people has a joint commitment to stakeholders: Delivering your potential. In 2024, Elkem achieved an operating income of NOK 33 billion. Elkem has been awarded top score of A on Forests and Water Security, and B on Climate Change from CDP. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where the company is also included in the ESG Index. www.elkem.com  

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/elkem/r/norwegian-ministry-of-climate-and-environment-concludes-in-favour-of-elkem-in-eu-ets-free-emission-a,c4204932

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SOURCE Elkem