Month: November 2025

DUBAI, UAE, Nov. 20, 2025 /PRNewswire/ — Baccarat Hotel & Residences Maldives commanded attention at Dubai Watch Week, as football icons Clarence Seedorf, Marcelo, Andrea Pirlo, Miralem Pjanić and Ricardo Kaká, alongside UFC heavyweight Cyril Gane, visited the brand’s exclusive activation space at Dubai Mall’s Burj Park.

As official partner of the region’s premier luxury event, Baccarat Hotel & Residences Maldives’ activation became the undeniable hotspot when these world-class athletes arrived, drawing crowds and creating unprecedented buzz around the ultra-luxury Maldivian development. The star-studded gathering underscored the synergies between the utmost excellence in the sporting world and Baccarat Hotel & Residences Maldives positioning in the premium real estate and hospitality market.

For Baccarat Hotel & Residences brand loyalists and wider consumers, the activation highlighted compelling regional connections. Just four hours from Dubai, Baccarat Hotel & Residences Maldives offers professionals, families and investors the ideal combination of proximity and paradise— exclusive home ownership in the Indian Ocean’s most exclusive destination, where French heritage meets Maldivian perfection.

Zayan Salih, CEO, MDC Developers: “We are honored to welcome these legends to our space at Dubai Watch Week. Their legacy, professionalism, and global influence reflect the very values that define Baccarat Hotel & Residences Maldives. Their presence brings a sense of prestige and cultural weight, enriching the narrative of craftsmanship and mastery that defines our brand.”

Clarence Seedorf: “It was a pleasure visiting the Baccarat Hotel & Residences stand at Dubai Watch Week. It’s a truly distinctive project with a great vision behind it.”

baccaratmaldivesresidences.com

ABOUT

Spanning five interconnected islands across more than 125 acres in the South Malé Atoll, Baccarat Hotel & Residences Maldives redefines island luxury just 40 minutes from Velana International Airport. The development features 50 hotel villas and 61 branded private residences, including exclusive private islands.

As the first Baccarat-branded residences in the Indian Ocean, the project carries over 250 years of the Maison’s heritage and artistry. Designed by world-renowned partners including 1508 London, HKS, L’Observatoire International, and Marcel Wanders, it embodies timeless sophistication and contemporary craftsmanship.

Managed by Starwood Hotels, the property offers a curated lifestyle of culinary excellence and holistic wellbeing, with seven specialty restaurants led by Michelin-starred chefs, a state-of-the-art spa and wellness center, and an array of sports and leisure facilities. Every detail reflects Baccarat’s enduring commitment to the art of living beautifully.

 

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SOURCE Baccarat Hotel & Residences Maldives

GENEVA, Nov. 20, 2025 /PRNewswire/ — ANDRITZ, a global leader of solutions to the pulp & paper, metals, hydropower and environment & energy sectors has selected GTK (Global Trade Konnect) from Komgo as its global multi-bank trade finance solution to accelerate digitalization and harmonize processes across the Group. Known internally as “Global Trade by Komgo,” the trade finance management system centralizes the management of guarantees, letters of credit, and credit risk insurance into a single digital tool, while providing a secure communication layer to financial institutions worldwide.

The program, now live with three pilot entities, will onboard 300 users across 40 countries, digitalizing communications with 30+ financing partners, including banks, brokers, and insurers. By consolidating activity into one system of record with structured data and automated workflows, GTK enables faster, safer, and more transparent execution of cross-border trade.

“GTK is another step forward in our commitment to digitalization, process harmonization, and operational excellence aligned with our strategic targets. It helps us work smarter, stay aligned across the globe, and ensure we deliver value through modern, efficient tools.” — Minna Helppi, SVP Group Finance, ANDRITZ

An enterprise-wide impact
For ANDRITZ as a company, GTK ensures global consistency in trade finance management, reduces errors through automation, improves data accuracy and transparency, and proactively manages risks and deadlines with alerts and reporting.

Benefits at entity level
All legal entities adopt the same streamlined workflows and gain real-time visibility on credit line usage and approval flows. Teams spend less time on paperwork and coordination, redirecting effort to value-added tasks.

A better experience for employees
GTK introduces simpler, user-friendly processes, clear responsibilities supported by training, and centralized storage of documents and communications—strengthening collaboration across regions and functions.

About ANDRITZ

As a globally leading supplier of solutions to the pulp & paper, metals, hydropower, and environment & energy sectors, ANDRITZ creates growth that matters—for the business, the people, and our planet. With a passion for innovative technologies, ANDRITZ drives the green transition by helping industries worldwide enhance efficiency, reduce waste, and minimize emissions.

About Komgo

Komgo is a Swiss-based fintech providing secure, interoperable solutions for digital trade finance. Its platform connects corporates and financial institutions globally, enabling structured data exchanges, automated workflows, and multi-bank connectivity. GTK (Global Trade Konnect) is Komgo’s enterprise application for unified trade finance management.

Media contacts:

At Komgo: Tim-Emilien TRAN NGOC, tim.tran@komgo.io 

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SOURCE Komgo

WILMINGTON, Del., Nov. 20, 2025 /PRNewswire/ — The demand for the geothermal power market is driven by its growing application in electricity generation, direct heating, and industrial processes, offering a renewable, reliable, and cost-effective energy solution. Advancements in exploration and drilling technologies, such as enhanced geothermal systems (EGS), improved reservoir management, and advanced heat extraction methods, have significantly boosted efficiency, reduced operational costs, and expanded the accessibility of geothermal resources. These innovations position geothermal power as a sustainable and high-performance alternative to conventional fossil fuels, supporting the global transition toward clean, resilient, and environmentally responsible energy systems.

Allied Market Research published a report, titled ‘Geothermal Power Market by Power Station Type (Dry Steam Power Stations, Flash Steam Power Stations, and Binary Cycle Power Stations) and End-Use (Residential, Commercial, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2025-2034′. According to the report, the geothermal power market was valued at $7.4 billion in 2024, and is estimated to reach $14.5 billion by 2034, growing at a CAGR of 7.0% from 2025 to 2034.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A05159

Challenges and Management Strategies 

High initial capital investment is the key challenge hampering the growth of the geothermal power market. As. compared to solar and wind projects, which have relatively lower upfront costs and shorter development timelines, geothermal projects require significant financial resources during the exploration and drilling stages. Identifying viable geothermal reservoirs involves extensive geological surveys, seismic studies, and test drilling, all of which are costly and time-consuming. In many cases, exploration does not guarantee success, and the risk of non-productive wells further discourages private investors from committing to large-scale geothermal development. The cost of drilling, which can reach several million dollars per well depending on depth and geological conditions, contributes heavily to the initial capital burden. In addition, building power plants and the necessary infrastructure for steam gathering and transmission adds further financial strain. These expenses often result in longer payback periods compared to other renewable energy technologies, which makes geothermal projects less attractive to investors who are looking for quicker returns. All these factors are expected to hamper the geothermal power market growth. 

Report coverage & details:

Procure Complete Report (350 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/geothermal-power-market 

Governing Policies and Regulatory Impacts

• Energy Efficiency Regulations

European Union: The Renewable Energy Directive (EU) 2018/2001 sets binding targets for renewable energy use, encouraging the adoption of geothermal power within the EU’s overall energy mix. The Energy Efficiency Directive (2012/27/EU) also emphasizes efficient use of renewable energy sources, including geothermal, to meet energy-saving goals. U.S.: The U.S. Department of Energy (DOE) regulates energy efficiency and provides guidelines for renewable power generation, such as geothermal. Under the Energy Policy Act and related programs, geothermal projects are promoted as part of efficiency and sustainability mandates.

• Environmental Regulations Emissions and Land Use:

Geothermal plants are subject to environmental regulations concerning emissions, water usage, and land disturbance. In the U.S., the Environmental Protection Agency (EPA) requires compliance with the Clean Air Act, Clean Water Act, and the National Environmental Policy Act (NEPA) for geothermal projects. European Union: EU environmental directives, such as the Environmental Impact Assessment (EIA) Directive 2011/92/EU, mandate impact studies for geothermal projects to minimize environmental harm.

• Safety Standards

ISO Standards:

The International Organization for Standardization (ISO) provides standards for geothermal systems, such as ISO 13664 for geothermal drilling and ISO 16923 for operational safety of energy facilities.

National Standards: In the U.S., the Occupational Safety and Health Administration (OSHA) and the American Petroleum Institute (API) provide guidelines for safe drilling operations, well design, and workplace safety during geothermal power plant construction and operation.

• Building Codes and Standards

International Building Code (IBC): In the U.S., the IBC and local building codes apply to the construction of geothermal power plants and related infrastructure, ensuring safety, structural integrity, and efficiency.

•  ASHRAE & IEEE Standards:

 Standards from ASHRAE and the Institute of Electrical and Electronics Engineers (IEEE) guide energy-efficient system design, electrical safety, and performance integration for geothermal facilities.

Connect To Industry Expert: https://www.alliedmarketresearch.com/connect-to-analyst/A05159

Growth Opportunities & Future Outlook

Rising investments in clean energy infrastructure are creating significant opportunities for the geothermal power market. As governments, private investors, and international financial institutions channel more funds into renewable energy projects, geothermal is gaining attention as a reliable and sustainable option to diversify the global energy mix. Large-scale funding for clean energy helps to finance costly exploration and drilling activities, which reduce investment risks associated with geothermal development. Moreover, initiatives such as green bonds, climate funds, and public–private partnerships are making capital more accessible, enabling countries with strong geothermal potential to accelerate project deployment. With a growing emphasis on building resilient, low-carbon energy systems, these rising investments are unlocking new geothermal projects, supporting technological innovations such as enhanced geothermal systems, and expanding opportunities for both established players and emerging markets. All these factors are anticipated to offer new growth opportunities for the geothermal power market during the forecast period.

Key Developments

• In August 2022, Yokogawa Electric Corporation announced that it has completed installation of an IoT system for the Kenya Electricity Generating Company PLC that utilizes mobile communications and other technologies to perform integrated remote performance management at geothermal power stations I additional Unit (AU), II, IV, and V of the Olkaria geothermal complex.

Leading Market Players: –

• Yokogawa Electric Corporation
• Enel Spa
• ABB Ltd
• Toshiba Corporation
• General Electric
• Korea Electric Power Corporation
• Siemens AG
• Tata Power Company Limited
• Mitsubishi Electric Corporation
• Ormat Technologies, Inc

The report provides a detailed analysis of these key players in the global geothermal power industry. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Trending Reports in Energy & Power Industry: 

Renewable Energy Market: Global Size, Share, Competitive Landscape, 2024-2034

Steam Turbine Market: Global Opportunity Analysis and Industry Forecast, 2022 – 2032

Power Generation Market Size, Share, Competitive Landscape and Forecast, 2023-2032

Power Plant EPC Market: Global Opportunity Analysis and Industry Forecast, 2025-2034

Geothermal Turbines Market: Global Opportunity Analysis and Industry Forecast, 2021 – 2031

Geothermal Heat Pump Market Size, Share, Competitive Landscape, 2021-2031

Power Plant Maintenance Market: Global Analysis and Industry Forecast, 2022 – 2032

About us: 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

Contact us: 
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SOURCE Allied Market Research

ISTANBUL, Nov. 20, 2025 /PRNewswire/ — Assan Alüminyum, one of the world’s leading flat-rolled aluminium industry, shapes its processes and activities based on its core values of reliability, flexibility, innovation and sustainability. With a firm commitment to environmental stewardship, the company has launched several initiatives aimed at reducing its carbon footprint and promoting biodiversity.

Assan Alüminyum has integrated sustainability into its core business strategy, focusing on energy efficiency, resource optimization and renewable energy. The company has invested in technological advancements to enhance its production processes, ensuring minimal environmental impact. By using renewable energy sources to produce clean energy and implementing advanced recycling techniques, Assan Alüminyum constantly reduces its environmental impact and balances its Scope 2 emissions. The company’s sustainability-oriented activities and processes have been recognized globally, as the company received the Aluminium Stewardship Initiative (ASI) Performance Standard Certificate for its production and recycling facilities.

Biodiversity Preservation Project

The company continues to create value through social responsibility awareness, in line with its core value of sustainability, to protect biodiversity, which is one of the important sub-headings of sustainability.  Assan Alüminyum has recently helped propagate the Centaurea kilaea, an endangered endemic species and prevented it from going extinct as part of its ‘Biodiversity Preservation Project’, which it has been running in collaboration with Kocaeli University for five years. The company has also previously reintroduced other species of plants such as the Blue Star, the Sea Daffodil and the Riva Mullein back into nature, which were also at risk of extinction.

As part of its corporate social responsibility efforts, Assan Alüminyum actively engages with local communities to foster economic and social development. Assan Alüminyum believes in creating shared value and empowering communities through sustainable practices.

Assan Alüminyum’s dedication to sustainability and biodiversity preservation reflects its vision for a greener, more circular future. The company announced the Assan Alüminyum Decarbonization Roadmap 2050, which includes its long-term plans for ultimately reaching carbon neutrality by 2050. Assan Alüminyum General Manager Göksal Güngör stated, “In line with our approach of ‘Producing the future without wasting it,’ we adopt a comprehensive sustainability approach across a wide range of areas, from production to management, and from the supply chain to recycling. Guided by our core values, we will continue to create added value for our business partners and the aluminium industry through our activities and fulfill our responsibilities to the world and nature.”

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SOURCE Assan Aluminyum

HONG KONG, Nov. 19, 2025 /PRNewswire/ — On World Children’s Day, Dr James Liang, Co-founder of Trip.com Group, announced the establishment of the Genovation Foundation Limited in Hong Kong. Established in his personal capacity, the foundation pledges HK$500 million over five years to address declining fertility through three key avenues: economic subsidies, cultural advocacy, and policy research.

The name Genovation combines “Gene” and “Innovation”, symbolising both the continuity of life and the pursuit of creative solutions to pressing social challenges. This marks another significant step in Liang’s decade-long dedicated research into demographic issues, moving from corporate practice into the realm of public philanthropy.

Supporting Policy Research and Global Dialogue

Beyond funding policy research, including the Global Fertility Crisis Forum scheduled to launch in January 2026 and held annually thereafter, the foundation has opened applications in two further areas:

• Childbearing subsidies for PhD students in Hong Kong
• Grants for fertility-friendly cultural and artistic projects worldwide

As a scholar-entrepreneur who has long studied the relationship between demographics and innovation, Liang has repeatedly warned that a shrinking younger population will erode national creativity and long-term economic vitality. He argues that addressing this challenge requires coordinated action across government, business, and society. By piloting initiatives in Hong Kong and focusing on three strategic directions, the foundation aims to create replicable models for wider adoption.

Financial Support for Doctoral Students

In its first phase, the foundation will pilot a targeted subsidy for doctoral students at higher education institutions in Hong Kong. As a crucial reserve of future research talent, PhD students often face multiple pressures of academic advancement, early career development, and family planning. Despite being in their prime reproductive years, many are forced to delay or abandon parenthood due to research demands, limited income, and the high cost of childcare.

To address this, the foundation will provide a HK$50,000 childcare and education grant to families of full-time PhD students based in Hong Kong whose children are born on or after 1 January 2026. Applications require a birth certificate, proof of enrolment, and academic transcripts. The foundation pledges to complete reviews within 14 working days and disburse funds within five working days. (Further details are available at http://www.genovationfoundation.org/ )

Promoting Fertility-Friendly Cultural Innovation

Liang recognises that low fertility is not only an economic issue but also shaped by social attitudes and cultural anxieties. To foster a supportive environment, the foundation has established a Fertility-Friendly Cultural Innovation Project, inviting global submissions of creative works that inspire childbearing, convey family warmth, and reduce anxiety around parenthood.

The foundation provides grants of up to HK$1 million to individuals and organisations, awarded annually to support creative works — from film and literature to art installations — that celebrate the joy of family life and the positive impact of childbearing.”

Global Fertility Crisis Forum

Low fertility is a shared global challenge requiring international collaboration. A flagship initiative of the foundation will be the Global Fertility Crisis Forum, to be held in Hong Kong in January 2026. Co-hosted by leading institutions including Peking University, the University of Hong Kong, and Princeton University, the forum will examine demographic trends, the economic impact of declining fertility, policy responses, and the balance between women’s reproductive choices and career development.

Combining macro-level analysis with personal sharing, the forum is intended to become a regular platform for international dialogue, pooling global expertise to inform policy-making. Liang believes that evidence-based policies and sufficient support can meaningfully raise fertility intentions, and the forum will serve as a hub for such collaborative efforts.

More information about the Global Fertility Crisis Forum can be found at https://globalfertilitycrisis.org/

From Corporate Practice to Public Philanthropy

The creation of the Genovation Foundation represents another breakthrough in Liang’s long-standing commitment to fertility support. Over the past decade, he has authored works such as The Demographics of Innovation and Population Strategies: How Population Affects Economy and Innovation, while also implementing childcare-friendly measures at Trip.com Group, including subsidies for employees worldwide and three additional days of parental leave.

He has sought to build public consensus through creative initiatives, such as the philosophical novel and play After Immortality and the interview series James Liang in Dialogue with Multi-Child Families. Liang has consistently called for stronger national support, including tax relief, mortgage interest rebates for larger families, and expanded childcare provision.

With government subsidies now in place and public awareness of the fertility crisis growing, Liang’s personal investment of HK$500 million reflects his philosophy of “testing solutions through corporate practice, expanding impact through public philanthropy”. From supporting employees to engaging society at large, and from financial subsidies to a combined framework of economic, cultural, and policy support, Liang emphasises that safeguarding fertility intentions is safeguarding the future of society and the foundations of innovation. He hopes the Genovation Foundation will act as a seed, encouraging wider participation and transforming childbearing from a “dilemma” into a “choice of hope and happiness”.

About the Genovation Foundation

The Genovation Foundation is a philanthropic organisation dedicated to population development and social innovation. The name Genovation combines “Gene” and “Innovation”, symbolising both the continuity of life and the pursuit of creative solutions to pressing social challenges. Established in Hong Kong by Dr James Liang in his personal capacity, the foundation will invest HK$500 million over five years, committed to alleviating poverty through education, promoting fertility, and advocating family virtues.

Official website: http://www.genovationfoundation.org/

 media contact: info@genovationfoundation.org

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SOURCE The Genovation Foundation

SEOUL, South Korea, Nov. 19, 2025 /PRNewswire/ — STRADVISION, a global leader in AI-based vision perception technology for vehicles, today announced that it has been named a Top SME Innovator in the Digital category of the 2025 CLEPA Innovation Awards, recognizing the company’s AI 3D Perception Network, SVNet, as one of the most advanced and transformative digital innovations contributing to the future of mobility.

The CLEPA Innovation Awards celebrate excellence among automotive suppliers driving safer, smarter, and more sustainable mobility across Europe and beyond. The 2025 Top Innovators were officially honored during an in-person awards ceremony on 18 November at Autoworld, Brussels, featuring high-level policy discussions and participation from EU institutions, global OEMs, media, and industry stakeholders.

This recognition marks another key milestone in STRADVISION’s ongoing commitment to the European automotive industry and follows the company’s formal membership in CLEPA announced in April 2023, reinforcing its strategic engagement with top global suppliers, experts, and regulatory bodies shaping the future of automotive technology.

“We are honored to be recognized by CLEPA as a Top SME Innovator for SVNet, STRADVISION’s 3D Perception Network,” said Philip Vidal, Chief Business Officer at STRADVISION. “This award reinforces the breakthrough work our teams are driving to push perception performance far beyond today’s industry standards. OEMs are looking for scalable, software-defined vision systems that deliver higher-fidelity spatial understanding in all conditions and accelerate their path toward advanced safety and autonomy. SVNet was purpose-built to meet those needs, and this recognition underscores its growing impact across the global market.”

STRADVISION’s AI 3D Perception Network, SVNet, is designed to deliver higher-fidelity spatial understanding, robust real-time object classification, and enhanced low-light and adverse-weather performance, enabling next-generation autonomous driving platforms. The technology is optimized for deployment flexibility across multiple SoCs and vehicle segments.

The award highlights STRADVISION’s ongoing expansion and strengthening position within the European automotive ecosystem. As part of this commitment, the company continues to deepen collaboration with regional partners, support software-defined vehicle development, and contribute insights to industry-wide innovation and regulatory dialogue.

For more information on STRADVISION and its industry-leading technologies, please visit STRADVISION.

About STRADVISION 

Founded in 2014, STRADVISION is an automotive industry pioneer in artificial intelligence-based vision perception technology for ADAS. The company is accelerating the advent of fully autonomous vehicles by making ADAS features available at a fraction of the market cost compared with competitors. STRADVISION’s SVNet is being deployed on various vehicle models in partnership with OEMs; can power ADAS and autonomous vehicles worldwide; and is serviced by over 300 employees in Seoul, San Jose, Detroit, Tokyo, Shanghai, and Dusseldorf. STRADVISION has been honored with Frost & Sullivan’s 2022 Global Technology Innovation Leadership Award, the Gold Award at the 2022 and 2021 AutoSens Awards for Best-in-Class Software for Perception Systems, and the 2020 Autonomous Vehicle Technology ACES Award in Autonomy (software category). In addition, STRADVISION and its software have achieved TISAX’s AL3 standard for information security management, as well as being certified to the ISO 9001:2015 for Quality Management Systems and ISO 26262 for Automotive Functional Safety. 

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SOURCE StradVision