Author: sHq_LoGiNz

HYDERABAD, India, May 9, 2025 /PRNewswire/ — In what would be one of the world’s largest renewable energy contracts, Coal India Limited (CIL) plans to supply 4500 MW of carbon-free energy, in phased manner, to upcoming green ammonia facilities of AM Green. It would be through a combination of solar and wind whose capacities CIL aims to set up on pan India basis. This initiative aligns with India’s national goal of achieving a cleaner energy mix and transition towards net-zero emissions.

A formal non-binding memorandum of understanding (MoU), for long-term supply and sourcing of renewable energy, was inked on 7^th May between the two entities.

While the solar power capacity would be to the tune of 2500 MW to 3000 MW, wind is expected to account between 1500 MW and 2000 MW at an estimated total outlay of around Rs. 25,000 Crores. Potential sites for wind projects will be explored in the southern states of the country. And, for solar plants in the sunny states like Gujarat and Rajasthan.  

AM Green will integrate the two renewable sources supplied by CIL with pumped hydro storage to ensure a steady supply of green energy to AM Green facilities.

“While coal remains our mainstay in meeting India’s expanding energy needs in the near term, our plans include a proactive role in building a greener and more sustainable future. This is in consonance with our commitment to become the country’s integrated energy provider,” said P M Prasad, CIL’s Chairman.

AM Green promoted by the founders of Greenko, one of India’s leading energy transition solutions providers, targets to produce 5 million tons per annum (MTPA) of green ammonia by 2030. This equals to approximately 1 MTPA of green hydrogen and represents a fifth of India’s target for green hydrogen production under the National Green Hydrogen Mission.

Anil Chalamalasetty, Founder of the Hyderabad-based Greenko Group & AM Green, said, “We are delighted to partner with CIL on one of the world’s largest carbon-free, renewable energy supply contracts. We aim to become one of the most cost-competitive producers of green hydrogen, green ammonia, and other green molecules in the world.”

The agreement was signed by Sudarsan Bora, GM (E&M) representing CIL while his counterpart from AM Green was Shatanshu Agrawal, Sr. Vice President – Business Development. Present were P M Prasad, Chairman, CIL, Mukesh Choudhary, Director (Marketing) CIL and Anil Kumar, GM (MM & Solar) CIL.

About AM Green:

AM Green is promoted by the founders of Greenko Group, one of India’s leading renewable energy conglomerates with deep expertise in building, owning, and operating renewable assets. Greenko is currently developing large-scale closed-loop pumped storage projects to deliver round-the-clock power at competitive rates.

The founders have launched AM Green as a new energy transition platform focused on producing Sustainable Aviation Fuel, Green Ammonia, Green Hydrogen, Green Chemicals, and Biofuels. These efforts are structured through specialized subsidiaries, enabling technology partnerships and services.

AM Green will lead the production of green chemicals, hydrogen, and biofuels, with a strong commitment to scaling green ammonia across multiple Indian sites. Its goal is to reach 5 MTPA of green ammonia by 2030, equivalent to 1 MTPA of green hydrogen—representing 20% of India’s target and 10% of Europe’s import target, contributing significantly to global decarbonization and India’s net-zero goals.

Contact:

Suheil Imtiaz,
Public Affairs & Strategic Communication
suheil.m@amgreen.com 

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SOURCE AM Green

FORNEBU, Norway, May 9, 2025 /PRNewswire/ — In 2021, Kristian Røkke, Chairman of Aker Horizons ASA (the “Company”), participated in a share-based investment program in which the Company sold shares in its subsidiary Aker Horizons Holding AS for NOK 25 million. NOK 10 million were paid in cash by Kristian, and NOK 15 million were financed through a loan from the Company. The share program was settled in 2024 with a total loss for Kristian of NOK 23.8 million.

As part of the settlement, the shares were transferred back to the Company. The Company retained the NOK 10 million in cash contribution, while the portion of the loan not covered by the proceeds from the sale of the shares upon settlement was cancelled in accordance with the agreement. The amount of the loan cancellation in favor of Kristian was NOK 13.8 million, reducing his loss on the investment correspondingly. The debt cancellation mechanism was part of the original terms for the share program.

Kristian today paid NOK 13.8 million to the Company and gave the following comment:

“I recognize the concerns raised by stakeholders and have listened. To reinforce alignment, I have chosen to repay the loan amount that was otherwise cancelled under the agreed terms.”

Contacts

For further information, please contact:

Jonas Gamre, Investor Relations, tel: +47 97 11 82 92, email: jonas.gamre@akerhorizons.com
Mats Ektvedt, Media, tel: +47 41 42 33 28, email: mats.ektvedt@corporatecommunications.no 

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SOURCE Aker Horizons

FORNEBU, Norway, May 9, 2025 /PRNewswire/ — Aker ASA (Aker) and Aker Horizons ASA (Aker Horizons or AKH) today announce a merger (the Merger) whereby AKH’s subsidiary, Aker Horizons Holding AS (AKH Holding), will merge with a subsidiary of Aker ASA (AKH MergerCo) against consideration in the form of shares in Aker ASA and cash to all shareholders in Aker Horizons (other than Aker Capital). Specifically, shareholders will receive 0.001898 shares in Aker ASA (subject to rounding as described below) and NOK 0.267963 in cash for each share owned in AKH. The exchange ratio is based on the 30-day volume weighted average share price for each of Aker and AKH. The Merger is expected to be completed during the third quarter of 2025.

AKH Holding encompasses all business activities of the Aker Horizons group, including its shareholding in Aker Carbon Capture ASA (ACC), investment in Mainstream Renewable Power, and the Narvik properties. As described in a stock exchange notice from ACC today, ACC has entered into an agreement to sell its ownership interest in SLB Capturi AS to Aker, followed by a proposed dividend payment to ACC shareholders and liquidation of ACC.

To enable shareholders in AKH to benefit directly from the merger consideration, the shares in AKH Holding will be distributed as a dividend in kind to AKH shareholders immediately prior to completion of the Merger. Upon completion of the Merger, AKH shareholders who received AKH Holding shares as dividend in kind will receive the merger consideration in exchange for their shareholding in AKH Holding. The distribution of dividend in kind in the form of shares in AKH Holding is subject to approval by the shareholders of AKH. An extraordinary general meeting to consider this is expected to be called for the first part of June 2025.

AKH has also resolved to redeem 100% of the Aker Horizons AS FRN Senior Unsecured NOK 2,500,000,000 Green Bond 2021/2025 (ISIN NO0010923220) (the Green Bond) at a call price of 100.37 percent of par, plus accrued unpaid interest. AKH will utilize existing cash reserves for the redemption, which is expected to be completed by the end of May 2025. The early redemption will reduce cash interest costs for AKH that would otherwise accrue until the maturity of the Green Bond on August 15, 2025. The redemption is not conditional upon completion of the Merger.

As part of the overall transaction relating to the Merger:

• AKH will offer to repurchase the outstanding bonds under AKH’s NOK 1.6 billion Convertible Bond due 2026 (the Convertible Bond) at a cash price of 93% of par. Repurchased bonds will subsequently be cancelled. AKH will fund such redemption by drawing on a receivable against AKH Holding that will be established as part of the Merger, whereby the economic liability to repay the Convertible Bond is assumed by AKH Holding. Aker Capital, which holds Convertible Bonds equalling NOK 1.3 billion par value, has undertaken not to accept the redemption offer.
• AKH Holding will upon completion of the Merger assume the debtor position under AKH’s NOK 2.6 bn (including accrued interest) shareholder loan from Aker Capital.
• AKH will propose to DNB Bank ASA that the guarantee provided by AKH in relation to the Mainstream Renewable Power DNB facility shall be transferred to AKH MergerCo. Such transfers will be conditional upon completion of the Merger. The new shareholder loan from AKH to Mainstream Renewable Power issued in April 2025 and the new shareholder loan commitment will also be transferred to AKH MergerCo.

The transaction is the result of a strategic review process by the Board of Directors of Aker Horizons (the Board), who has concluded that it represents the most attractive alternative for Aker Horizons and its shareholders. There is significant market uncertainty and substantial funding requirements needed to realize the value creation potential in Aker Horizons’ portfolio of assets, which makes it challenging for Aker Horizons as a stand-alone listed company to raise financing without diluting existing shareholders. Additionally, Aker Horizons has significant debt that will mature during the next 12 months.

The Board believes that the Merger and other transactions described herein are in the best commercial interests of AKH, its shareholders, business partners and other stakeholders. Consequently, the Board has deemed it advisable and in the best interests of AKH and its shareholders to complete the transactions.

Following the completion of the Merger, Aker will continue to realize the value of AKH Holdings’ existing investments. Mainstream’s activities have been scaled down and the company is focusing on a few key areas, including South Africa and Australia. Overall, going forward the task is to manage risks and opportunities in the portfolio, including in Chile and within offshore wind.  In Narvik, the emphasis will be on developing the data center business opportunity.

Øyvind Eriksen, President and CEO, Aker ASA, comments:

“This merger follows a prolonged period of financial uncertainty for Aker Horizons. Despite significant losses for Aker and fellow shareholders in Aker Horizons, our perspective remains long-term. We believe in the underlying industrial potential and are taking steps to protect and rebuild shareholder value through more focused capital deployment and a clearer strategic direction. We will continue to develop the existing assets, including core projects in Mainstream and the ownership in SLB Capturi, as well as the possible data center development in Narvik, which will require Aker’s full weight of industrial expertise and financial capacity.”

Lone Fønss Schrøder, Independent Director of Aker Horizons, comments:

“This transaction serves the long-term interests of all stakeholders. It reflects the need to adapt to a materially changed market environment, where the sharp downturn in green energy and industrial markets has made capital raising and large-scale execution significantly more challenging. We have already adjusted our strategy – and now also our structure.”

Kristian Røkke, Chairman of Aker Horizons, comments:

“Aker Horizons was founded with a clear vision: to accelerate the transition to Net Zero by applying the Aker group’s industrial, technological, and capital markets expertise to drive global decarbonization through renewable energy, carbon capture, and sustainable industry. The portfolio, built in a different market environment, retains potential with several promising initiatives.

Notably, the powered land sites in Narvik, originally part of our green industry strategy, have evolved into an AI Factory initiative. The surging demand for AI infrastructure offers significant value creation opportunities. Today’s market conditions do not support large-scale green investments to the extent they once did, and realizing this potential requires capital and scale beyond Aker Horizons’ standalone capacity.”

The Board will work on defining AKH’s future strategy and structure following completion of the Merger and will revert with an update once the Board has concluded in this respect.

Key Terms of the Merger

Aker Horizons’ wholly owned subsidiary, AKH Holding, will merge with an indirect subsidiary of Aker ASA (AKH MergerCo), with AKH MergerCo as the surviving entity.  Shareholders in Aker Horizons (other than Aker Capital) will upon completion of the Merger receive merger consideration in the form of NOK 0.267963 in cash and 0.001898 shares in Aker ASA for each share owned in Aker Horizons. The exchange ratio is based on the 30-day volume weighted average share price for each of Aker and AKH.

Aker ASA will settle the consideration shares in the Merger with treasury shares held and/or acquired and/or issue of new shares pursuant to authorizations granted to the board of directors of Aker ASA.

Fractions of Aker ASA consideration shares will not be allotted in the Merger. For each shareholder the number of Aker ASA shares will be rounded down to each whole number, or to zero shares. Excess shares, which because of this round down will not be allotted to eligible shareholders, will be issued to and sold by DNB Bank ASA according to instructions from Aker ASA at the expense and risk of the beneficiaries with a proportionate distribution of net sales proceeds among the shareholders who have the number of consideration shares rounded off.

Since the Merger is between AKH Holding and AKH MergerCo, shareholders in AKH will retain their shares in AKH following completion of the Merger.

Completion of the Merger is subject to (i) completion of the distribution of dividend in kind in the form of shares in AKH Holding, (ii) all third-party notifications and consents having been delivered and obtained, including consent from DNB Bank ASA in relation to transfer of the support arrangements relating to Mainstream Renewables described above, and (iii) other customary closing conditions. Subject to fulfilment of these conditions, the Merger is expected to be completed during the third quarter of 2025.

Advisors

Arctic Securities AS has acted as financial adviser to Aker and DNB Markets has acted as financial adviser to Aker Horizons in connection with the Merger. Advokatfirmaet BAHR AS has acted as legal counsel to Aker and Advokatfirmaet Haavind AS has acted as legal counsel to Aker Horizons.

For further information, please contact:
Jonas Gamre, Investor Relations, tel: +47 97 11 82 92, email: jonas.gamre@akerhorizons.com
Mats Ektvedt, Media, tel: +47 41 42 33 28, email: mats.ektvedt@corporatecommunications.no 

This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Mats Ektvedt, Partner in Corporate Communications, on 9 May 2025 at 06:57 CEST.

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

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SOURCE Aker Horizons

TULSA, Okla., May 8, 2025 /PRNewswire/ — ONE Gas, Inc. (“ONE Gas”) (NYSE: OGS) announced today that it has priced its public offering of 2,500,000 shares of its common stock for approximate gross proceeds of $197,500,000 (before offering expenses and underwriting discounts and commissions, assuming the underwriter does not exercise its option to purchase additional shares and upon, and assuming, full physical settlement of the forward sale agreement). In connection with the offering, ONE Gas entered into a forward sale agreement with JPMorgan Chase Bank, National Association, referred to in such capacity as the forward purchaser. In connection with the forward sale agreement, the forward purchaser or its affiliate, acting as forward seller, at ONE Gas’ request, is borrowing from third parties and selling 2,500,000 shares of ONE Gas’ common stock to the underwriter in the offering in connection with the forward sale agreement described below. As part of the offering, ONE Gas has granted to the underwriter an option to purchase up to 375,000 additional shares of ONE Gas’ common stock. If such option is exercised, ONE Gas may, in its sole discretion, enter into an additional forward sale agreement with the forward purchaser with respect to such additional shares, and ONE Gas currently expects that, if such option is exercised, it will do so. The offering is expected to close on May 12, 2025, subject to satisfaction of customary conditions to closing.

J.P. Morgan is acting as the sole underwriter for the offering and proposes to offer the shares of common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

Pursuant to the terms of the forward sale agreement, ONE Gas has agreed to sell to the forward purchaser or its affiliate (subject to ONE Gas’ right to elect net share or cash settlement of the forward sale agreement) 2,500,000 shares of ONE Gas’ common stock (or 2,875,000 shares if the underwriter’s option to purchase additional shares is exercised in full and ONE Gas elects to enter into an additional forward sale agreement with respect to such exercise, as described above), at a price per share equal to the price at which the underwriter purchases the shares from the forward seller. Settlement of the forward sale agreement is expected to occur no later than December 31, 2026.

ONE Gas will not initially receive any proceeds from the sale of shares of its common stock by the forward seller or its affiliate, unless an event occurs that requires ONE Gas to sell its common stock to the underwriter in lieu of the forward seller borrowing and selling shares of ONE Gas’ common stock to the underwriter. Although ONE Gas expects to settle the forward sale agreement entirely by the full physical delivery of shares of its common stock in exchange for cash proceeds, ONE Gas may elect cash settlement or net share settlement for all or a portion of its obligations under the forward sale agreement. If ONE Gas elects to cash settle or net share settle the forward sale agreement, ONE Gas may not receive any proceeds from the issuance of shares, and ONE Gas will instead receive or pay cash (in the case of cash settlement) or receive or deliver shares of its common stock (in the case of net share settlement). ONE Gas intends to use any net proceeds received for general corporate purposes, which may include repayment or refinancing of debt, working capital, construction and acquisition expenditures and investments.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of a prospectus supplement and accompanying base prospectus relating to this offering.

The public offering is being made pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website. In addition, copies of the preliminary prospectus supplement and accompanying base prospectus relating to the shares of ONE Gas’ common stock being offered may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by e-mail at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com. 

ONE Gas is a 100% regulated natural gas utility, and trades on the New York Stock Exchange under the symbol “OGS.” ONE Gas is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States.

Headquartered in Tulsa, Oklahoma, ONE Gas provides a reliable and affordable energy choice to more than 2.3 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas, in terms of customers.

Some of the statements contained and incorporated in this news release are 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. The forward-looking statements relate to, without limitation, the offering (including size and proceeds, if any, and use of proceeds), our anticipated financial performance, liquidity, management’s plans and objectives for our future operations, our business prospects, the outcome of regulatory and legal proceedings, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. The following discussion is intended to identify important factors that could cause future outcomes to differ materially from those set forth in the forward-looking statements.

Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “should,” “goal,” “forecast,” “guidance,” “could,” “may,” “continue,” “might,” “potential,” “scheduled,” “likely,” and other words and terms of similar meaning.

One should not place undue reliance on forward-looking statements, which are applicable only as of the date of this news release. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Those factors may affect our operations, costs, liquidity, markets, products, services and prices. In addition to any assumptions and other factors referred to specifically in connection with the forward-looking statements, factors that could cause our actual results to differ materially from those contemplated in any forward-looking statement include, among others, the following:

• our ability to recover costs, income taxes and amounts equivalent to the cost of property, plant and equipment, regulatory assets and our allowed rate of return in our regulated rates or other recovery mechanisms;
• cyber-attacks, which, continue to increase in volume and sophistication, or breaches of technology systems that could disrupt our operations or result in the loss or exposure of confidential or sensitive customer, employee, vendor, counterparty or Company information; further, increased remote working arrangements have required enhancements and modifications to our information technology infrastructure (e.g. Internet, Virtual Private Network, remote collaboration systems, etc.), and any failures of the technologies, including third-party service providers, that facilitate working remotely could limit our ability to conduct ordinary operations or expose us to increased risk or effect of an attack;
• our ability to manage our operations and maintenance costs;
• changes in regulation of natural gas distribution services, particularly those in Oklahoma, Kansas and Texas;
• the economic climate and, particularly, its effect on the natural gas requirements of our residential and commercial customers;
• the length and severity of a pandemic or other health crisis, which could significantly disrupt or prevent us from operating our business in the ordinary course for an extended period;
• competition from alternative forms of energy, including, but not limited to, electricity, solar power, wind power, geothermal energy and biofuels;
• adverse weather conditions and variations in weather, including seasonal effects on demand and/or supply, the occurrence of severe storms in the territories in which we operate, and climate change, and the related effects on supply, demand, and costs;
• indebtedness, which could make us more vulnerable to general adverse economic and industry conditions, limit our ability to borrow additional funds and/or place us at competitive disadvantage compared with competitors;
• our ability to secure reliable, competitively priced and flexible natural gas transportation and supply, including decisions by natural gas producers to reduce production or shut-in producing natural gas wells and expiration of existing supply and transportation and storage arrangements that are not replaced with contracts with similar terms and pricing;
• our ability to complete necessary or desirable expansion or infrastructure development projects, which may delay or prevent us from serving our customers or expanding our business;
• operational and mechanical hazards or interruptions;
• adverse labor relations;
• the effectiveness of our strategies to reduce earnings lag, revenue protection strategies and risk mitigation strategies, which may be affected by risks beyond our control such as commodity price volatility, counterparty performance or creditworthiness and interest rate risk;
• the capital-intensive nature of our business, and the availability of and access to, in general, funds to meet our debt obligations prior to or when they become due and to fund our operations and capital expenditures, either through (i) cash on hand, (ii) operating cash flow, or (iii) access to the capital markets and other sources of liquidity;
• our ability to obtain capital on commercially reasonable terms, or on terms acceptable to us, or at all;
• limitations on our operating flexibility, earnings and cash flows due to restrictions in our financing arrangements;
• cross-default provisions in our borrowing arrangements, which may lead to our inability to satisfy all of our outstanding obligations in the event of a default on our part;
• changes in the financial markets during the periods covered by the forward-looking statements, particularly those affecting the availability of capital and our ability to refinance existing debt and fund investments and acquisitions to execute our business strategy;
• actions of rating agencies, including the ratings of debt, general corporate ratings and changes in the rating agencies’ ratings criteria;
• changes in inflation and interest rates;
• our ability to recover the costs of natural gas purchased for our customers and any related financing required to support our purchase of natural gas supply;
• impact of potential impairment charges;
• volatility and changes in markets for natural gas and our ability to secure additional and sufficient liquidity on reasonable commercial terms to cover costs associated with such volatility;
• possible loss of local distribution company franchises or other adverse effects caused by the actions of municipalities;
• payment and performance by counterparties and customers as contracted and when due, including our counterparties maintaining ordinary course terms of supply and payments;
• changes in existing or the addition of new environmental, safety, tax, cybersecurity and other laws or regulations to which we and our subsidiaries are subject, including those that may require significant expenditures, significant increases in operating costs or, in the case of noncompliance, substantial fines or penalties;
• the effectiveness of our risk-management policies and procedures, and employees violating our risk-management policies;
• the uncertainty of estimates, including accruals and costs of environmental remediation;
• advances in technology, including technologies that increase efficiency or that improve electricity’s competitive position relative to natural gas;
• population growth rates and changes in the demographic patterns of the markets we serve in Oklahoma, Kansas and Texas, and economic conditions in these areas;
• acts of nature and naturally occurring disasters;
• political unrest and the potential effects of threatened or actual terrorism and war;
• the sufficiency of insurance coverage to cover losses;
• the effects of our strategies to reduce tax payments;
• changes in accounting standards;
• changes in corporate governance standards;
• existence of material weaknesses in our internal controls;
• our ability to comply with all covenants in our indentures and the ONE Gas Credit Agreement, a violation of which, if not cured in a timely manner, could trigger a default of our obligations;
• our ability to attract and retain talented employees, management and directors, and any shortage of skilled-labor;
• unexpected increases in the costs of providing health care benefits, along with pension and postemployment health care benefits, as well as declines in the discount rates on, declines in the market value of the debt and equity securities of, and increases in funding requirements for, our defined benefit plans; and
• our ability to successfully complete merger, acquisition or divestiture plans, regulatory or other limitations imposed as a result of a merger, acquisition or divestiture, and the success of the business following a merger, acquisition or divestiture.

These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other factors could also have material adverse effects on our future results. These and other risks are described in greater detail in our filings with the SEC, including in Part 1, Item 1A, Risk Factors, in our Annual Report on Form 10-K for the year ended December 31, 2024. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.

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SOURCE ONE Gas, Inc.

From the Bible to the screen, a global story is now reaching global audiences, with Iyuno powering its multilingual expansion.

BURBANK, Calif., May 8, 2025 /PRNewswire/ — Every language tells a story differently. For The Chosen, the goal was to share the biblical telling of the life of Jesus Christ in as many languages as possible. Not just translated, but expertly localized to feel personal, authentic, and resonate culturally, while maintaining Biblical accuracy.

That’s where Iyuno stepped in.

As a localization partner of The Chosen, Iyuno has brought the series to life in up to 56 dubbed and 66 subtitled languages, working closely with Come and See and a global network of theologians to ensure each version reflects the correct translations from the bible, while respecting the unique cultures and colloquial nuances of each audience.

“Our ultimate ambition is to deliver this project in as many languages as possible and Iyuno’s global footprint made them the perfect partner to support this goal,” said Rick Dempsey, Global Localization and Creative Advisor, Come and See. 

“The creative and technical results have been fantastic and have proven to resonate with the audiences that we’re reaching with this show as we continue our path to ultimately delivering The Chosen in 600 languages.”

Since 2023, Iyuno has supported four seasons of the biblical epic and two spin-off series, The Chosen Docuseries: Jonathan & Jesus and The Chosen in The Wild with Bear Grylls and is currently working to localize earlier seasons in additional languages based on growing audience demand.

In addition to dubbing and subtitling, Iyuno provides English audio description, localized promotional content, and digital cinema package (DCP) delivery for the series’ global theatrical events.

Of the 56 dubbed languages, 23 are produced in Iyuno’s owned-and-operated studios. In underserved, rare language markets, Iyuno has developed an AI assisted solution to create high-quality, authentic dubbed versions for these unique languages. This approach allows Iyuno to deliver meaningful, localized experiences in languages that have rarely been addressed at this level, granting access to stories like The Chosen for communities long overlooked by global content strategies.

Dr. Wendi Lord, Vice President of Content Localization , said, “Here at Come and See, we are leaning into emerging technologies that will allow us to deliver subtitles and audio to people groups who have not historically had access to stunning faith-based content in their own language. Iyuno is an impressive partner, helping us push the boundaries of what’s currently possible in this space.”

As the worldwide demand for localized content continues to grow, Iyuno remains focused on working with creators to deliver quality localization at scale, efficiently and with intention.

ABOUT IYUNO 

Iyuno ( www.iyuno.com ) is a leading provider of localization services for the media and entertainment industry. Trusted by top entertainment brands and creators worldwide, Iyuno offers comprehensive end-to-end localization services from 45 offices across 32 countries. Backed by a team of exceptional creative and technical talent, state-of-the-art facilities, and cutting-edge technologies, Iyuno proudly boasts the largest global footprint amplifying its dubbing, subtitling and media services offerings.

ABOUT COME AND SEE

Come and See is a faith-based nonprofit that exists to share the authentic Jesus with at least one billion people worldwide. Because of the generosity of supporters around the world, Come and See is able to ensure that all seven seasons of “The Chosen” are produced, translated into 600 languages, made globally accessible, and free to all.

Press Contact

Press@iyuno.com

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SOURCE Iyuno

SEATTLE, May 8, 2025 /PRNewswire/ — Weyerhaeuser Company (NYSE: WY) today announced that its board of directors declared a quarterly base cash dividend of $0.21 per share on the common stock of the company, payable in cash on June 13, 2025, to holders of record of such common stock as of the close of business on May 30, 2025.

Additionally, the board has authorized a new share repurchase program of up to $1 billion of the company’s common shares. This replaces the recently completed $1 billion share repurchase program, which was authorized in September 2021. In the second quarter of 2025, the company executed the remainder of its prior authorization by repurchasing approximately $74 million of common shares. Repurchases under the new program may be made through a variety of methods, including but not limited to open market purchases, unsolicited or solicited privately negotiated transactions, tender offers, block trades, accelerated share repurchase transactions, or pursuant to 10b5-1 trading plans.

“We’ve completed nearly $100 million of opportunistic share repurchase year to date and are pleased to announce authorization of a new program going forward,” said Devin W. Stockfish, president and chief executive officer. “Since the beginning of 2021, and inclusive of the quarterly dividend announced today, we will have returned more than $5.7 billion of cash back to shareholders, including $1 billion of share repurchase. Looking ahead, we remain committed to returning meaningful and appropriate amounts of cash back to shareholders across market cycles. This new authorization provides ample flexibility for future share repurchase activity, and it represents an important ongoing lever for driving long-term shareholder value within our broader capital allocation framework.”

Under Weyerhaeuser’s cash return framework, the company expects to supplement its quarterly base cash dividend, as appropriate, with an additional return of variable cash to achieve a targeted total return to shareholders of 75 to 80 percent of annual Adjusted Funds Available for Distribution (Adjusted FAD). The company has the flexibility in its capital allocation framework to return this additional cash in the form of a supplemental cash dividend, opportunistic share repurchase, or a combination of the two.

Adjusted FAD, a non-GAAP measure, is defined by Weyerhaeuser as net cash from operations adjusted for capital expenditures and significant non-recurring items.

ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.4 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada. Weyerhaeuser has been a global leader in sustainability for more than a century and manages 100 percent of its timberlands on a fully sustainable basis in compliance with internationally recognized sustainable forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around product distribution, climate solutions, real estate, energy and natural resources, among others. In 2024, the company generated $7.1 billion in net sales and employed approximately 9,400 people who serve customers worldwide. Operated as a real estate investment trust, Weyerhaeuser’s common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

FORWARD-LOOKING STATEMENTS
This news release contains statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, concerning the amount, timing and occurrence of future quarterly and supplemental cash dividends as well as the company’s dividend framework and future share repurchases under its new share repurchase authorization. Forward-looking statements are generally identified by words such as “expects” and “targeted,” references to events occurring on specified future dates and other words and expressions referencing future events or occurrences. All forward-looking statements are based on our current expectations and assumptions and are not guarantees of future events or performance. The realization of our expectations and the accuracy of our assumptions are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, those identified in our 2024 Annual Report on Form 10-K, as well as those set forth from time to time in our other public statements, reports, registration statements, prospectuses, information statements and other filings with the SEC, and other factors not described herein or elsewhere because they are not currently known to us or because we currently judge them to be immaterial.

It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of our forward-looking statements and, consequently, our descriptions of such risks and uncertainties should not be considered exhaustive. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Also included in this news release are references to Adjusted FAD, which is a non-GAAP financial measure. Adjusted FAD may not be comparable to similarly named or captioned non-GAAP financial measures of other companies due to potential inconsistencies in how such measures are calculated. Adjusted FAD should not be considered in isolation from, and is not intended to represent an alternative to, our GAAP results.

For more information contact:
Analysts – Andy Taylor, 206-539-3907
Media – Nancy Thompson, 919-861-0342

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SOURCE Weyerhaeuser Company