Tag: GlobeNewswire

Licence of up to 20 years, payable in shares, as Malaysia commits RM1 billion to digitalizing public healthcare

KUALA LUMPUR, Malaysia, Oct. 07, 2026 (GLOBE NEWSWIRE) — BioNexus Gene Lab Corp. (Nasdaq: BGLC) (“Company” or “BGLC”) today announced plans to build AI applications for Malaysian healthcare, following the signing of a definitive agreement with Ruanyun Edai Technology Inc. (Nasdaq: RYET) on October 5, 2026 for an exclusive Malaysian healthcare licence to RYET’s CogniAI artificial intelligence platform. BGLC’s first target is Malaysia’s public healthcare digitalization programme, which covers 150 hospitals and more than 2,000 health clinics. Closing and the contemplated share issuances remain pending.

“With CogniAI we would not be starting from a blank page,” said Sam Tan, Chief Executive Officer of BioNexus Gene Lab Corp. “The platform exists and is in commercial use, and our job is to build the applications around it. Malaysia is putting real money into taking public healthcare records digital, and that is where we intend to go first.”

The opportunity

In August 2026, the Malaysian government raised its allocation for public healthcare digitalization to RM1 billion, covering electronic medical records and connectivity at 150 hospitals and more than 2,000 health clinics. The Ministry of Health has said public hospitals and health facilities nationwide are to be equipped with electronic medical records by 2029. Its facilities recorded 68.2 million patient arrivals in 2023, according to ministry data tabled in Parliament in 2025.

BGLC intends to offer CogniAI-based applications that complement those systems by bringing existing paper and scanned records into digital form. BGLC has not been awarded any government contract, and any public-sector work would depend on government procurement.

More broadly, a November 2024 report by Grand View Research projects the global intelligent document processing market to reach approximately US$12.35 billion by 2030, growing at about 33.1% a year from 2025. Notably, the agreement also gives BGLC a right to add other Malaysian industries by written notice, which would allow it to pursue digitalization work beyond healthcare.

A platform already in commercial use

CogniAI is RYET’s AI platform for document intelligence. It recognizes, classifies and extracts information from documents and records. In June 2026, RYET reported approximately US$1.73 million of contracted commercial activity for the platform, on an unaudited basis. In September 2026, it announced a deployment to digitize highway engineering archives in Ningxia, China.

“BioNexus knows the Malaysian market and its healthcare providers, and that local knowledge is what turns a platform into working applications,” said Maggie Fu, Chief Executive Officer of Ruanyun Edai Technology Inc. “We built CogniAI to read and organize records at scale, and we look forward to supporting BioNexus as it takes the platform into healthcare.”

At closing, BGLC would receive rights to host, adapt and integrate the platform, build and brand applications using it, and sublicense the technology to customers and implementation partners during the prescribed term. BGLC would lead local implementation and customer relationships, and it retains ownership of the applications it develops. Personal data must be hosted in Malaysia, with no RYET Group access from outside the country.

The licence adds a third element to the AI and technology strategy BGLC has been building. The first two are its investments, in Ascension Innovation Sdn. Bhd. in August 2024 and in Fidelion Diagnostics Pte. Ltd. in November 2025, when it also obtained exclusive ASEAN rights to the VitaGuard™ minimal residual disease platform, and its own GeneMatrix Systems software development.

Key terms of the RYET agreement

• Licence. Exclusive for healthcare in Malaysia for ten years from closing, with two five-year renewal options for BGLC. Exclusivity is subject to the agreement’s milestone, cure and termination provisions.
• Other industries. BGLC may add other Malaysian industries by written notice. Exclusivity in an added industry continues only if a customer contract is signed within twelve months. Additional RYET work would require a separate project agreement.
• Consideration. At closing, BGLC will issue 410,000 common shares for the stated US$3.5 million licence consideration, a contractual amount and not a statement of fair value. There is no cash payment or market-value guarantee.
• Share exchange. BGLC will issue another 150,000 common shares in exchange for 500,000 RYET ordinary shares, for 560,000 shares in total.
• Royalty to RYET. 10% of defined technology receipts actually collected, with no minimum royalty or annual platform fee. Testing and clinical fees and separately identifiable services are excluded.
• Closing. Subject to technology delivery and BGLC’s written acceptance, satisfactory due diligence, and required approvals. Either non-defaulting party may terminate if closing has not occurred by March 31, 2027, unless extended.

Next steps

RYET is required to deliver the technology by December 4, 2026, which is 60 days after signing. BGLC will then carry out acceptance testing. In parallel, BGLC plans to begin discussions on offering CogniAI-based applications to government digitalization initiatives.

“We structured the agreement to keep cash in the business,” Mr. Tan said. “RYET is taking its licence consideration in our shares and a royalty only on what we collect, so it does well only if we do. The next step is practical. We take delivery, test the technology, and take it to the people running Malaysia’s healthcare digitalization.”

About BioNexus Gene Lab Corp.

BioNexus Gene Lab Corp. (Nasdaq: BGLC) is a technology-focused company operating across biotechnology, precision diagnostics and specialty materials. Through its subsidiaries, investments and licensing arrangements, the Company is developing new healthcare and life-science businesses alongside its established operations.

For more information, visit www.bionexusgenelab.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements about BGLC’s AI and healthcare strategy, including anticipated connections with its investments and VitaGuard work; plans to develop and commercialize its own AI applications; the expected contribution of CogniAI; GeneMatrix report-access and companion development; technology delivery, acceptance testing, licence activation and closing; plans to offer applications to government digitalization initiatives and the outcome of any public procurement; market size and growth projections; additional-industry opportunities; customer adoption; future royalties; and the benefits of the reciprocal share investment. Words such as “will,” “would,” “plan,” “intend,” “may,” “expect” and similar expressions identify forward-looking statements.

Actual results may differ materially because of technology delivery and acceptance; ownership and third-party rights; any required PRC technology-export approvals; performance on English- and Malay-language records and integration environments; data protection, cybersecurity and healthcare regulation; development readiness; implementation resources and funding; the parties’ financial condition, including going-concern uncertainties disclosed in their filings; customer demand, government budgets, priorities and procurement outcomes, and competition; the accuracy of third-party market estimates, which BGLC has not independently verified; share-price volatility, dilution and investment impairment; and accounting judgments. The agreement does not assure closing, customer contracts, revenue, profitability or clinical outcomes. Additional risks appear in BGLC’s latest Form 10-K, subsequent Forms 10-Q and other SEC filings. Forward-looking statements speak only as of the date made. BGLC undertakes no obligation to update them except as required by law.

Investor Relations and Corporate Communications

BioNexus Gene Lab Corp.
ir@bionexusgenelab.com

PLANTATION, Fla., Oct. 07, 2026 (GLOBE NEWSWIRE) — Alliance Entertainment Holding Corporation (Nasdaq: AENT), a scaled entertainment commerce and collectibles platform serving content owners, brands, retailers and fans across music, movies, gaming, licensed merchandise and collectibles, with proprietary brands, authentication technology and reach across more than 35,000 retail and e-commerce storefronts, today announced its participation in two upcoming investor conferences in New York City during October 2026.

Maxim Growth Summit 2026 – October 13-14, 2026

Jeff Walker, Chief Executive Officer of Alliance Entertainment, will participate in the Maxim Growth Summit 2026 at the Hard Rock Hotel in New York City, delivering a company presentation on October 13.

Walker will also participate in the Consumer & Lifestyle panel from 9:00 a.m. to 10:00 a.m. ET on October 13, discussing the potential impact of agentic commerce on retail sales and how companies are responding to evolving consumer behaviors and preferences.

The ThinkEquity Conference – October 15, 2026

Walker will be joined by Bruce Ogilvie, Executive Chairman of Alliance Entertainment, for a company presentation at 10:30 a.m. ET in South Salon II at The ThinkEquity Conference, being held at the Mandarin Oriental Hotel in New York City.

Management will also be available for one-on-one investor meetings in connection with the conferences. Interested investors should contact their respective conference representatives to request meetings with Alliance Entertainment management.

About Alliance Entertainment

Alliance Entertainment (NASDAQ: AENT) is a scaled entertainment commerce and collectibles platform serving content owners, brands, retailers and fans across music, movies, gaming, licensed merchandise and collectibles. The Company also owns and develops proprietary brands and platforms, including Handmade by Robots™ and Alliance Authentic™, while Endstate Authentic adds NFC-enabled authentication and digital product identity capabilities supporting provenance, brand protection and authenticated resale. Leveraging decades of industry relationships and distribution, fulfillment and inventory-management expertise, Alliance reaches more than 35,000 retail and e-commerce storefronts, connecting entertainment franchises and collectible products with consumers across channels and generations. For more information, visit www.aent.com.

For investor inquiries, please contact:

Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
AENT@redchip.com

Integrated Technology Supports Faster Transactions and Streamlined Operations Across Sports, Concerts and Global Events

MILWAUKEE, Oct. 07, 2026 (GLOBE NEWSWIRE) — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology, today announced that Hard Rock Stadium has selected Clover Sport as its official point-of-sale technology partner, bringing Fiserv’s integrated venue technology to one of the world’s premier sports and entertainment destinations. This deployment establishes Clover Sport as the technology supporting commerce across Hard Rock Stadium’s full calendar of professional sports, international competitions, concerts and large-scale live events, with capabilities designed to support transaction speed, operational efficiency and fan experiences.

Clover Sport is now live at Hard Rock Stadium, supported by 1,020 Clover Station Duo terminals and integrated scanners, along with 50 Clover Flex handheld units deployed across the venue. By combining payment processing, hardware, and ticketing software integration into a unified system, Fiserv provides venue operators with centralized management, real-time reporting, and uninterrupted performance during peak event rushes.

“Modern venue operations require high-performance technology that performs flawlessly under the most demanding conditions,” said Robert Clarkson, Chief Revenue Officer, SMB and Clover, at Fiserv. “Working with Hard Rock Stadium will allow us to deliver a modernized, fast commerce experience for millions of fans. By bringing Clover Sport to the venue, we’re helping create faster, more seamless experiences for fans while delivering the operational intelligence and reliability venue operators need to perform at scale.”

The Hard Rock Stadium operations team will have access to centralized reporting and actionable business insights, enabling them to streamline back-of-house operations.

“Technology plays a critical role in how fans experience sports and entertainment events,” said Sameer Istafa, Vice President and Chief Technology Officer at the Miami Dolphins and Hard Rock Stadium. “Clover Sport provides a modern point-of-sale platform that helps our guests spend less time waiting in line and more time enjoying the action, while giving our concessions team the technology they need to operate at peak efficiency.”

Clover Sport powers commerce at more than 60 major entertainment venues across NCAA and professional sports, demonstrating the platform’s scale across the sports and entertainment market. The deployment of Clover Sport’s technology across this venue underscores Fiserv’s growing leadership in modernizing enterprise sports and entertainment destinations worldwide.

For more information about Clover, visit www.clover.com.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, is a global leader uniting commerce and finance. The company powers sustained growth and innovation at scale for financial institutions and businesses worldwide across payments, account processing, digital banking, merchant acquiring, network services, e-commerce, and Clover^®, the all-in-one business management platform. Fiserv is a member of the S&P 500^® Index and one of FORTUNE^® America’s Most Innovative Companies. Visit fiserv.com and follow on social media for more information and the latest company news.

Media Relations:

Fiserv, Inc.
Melissa Moritz
Vice President, External Communications
melissa.moritz@fiserv.com

New dedicated website will showcase the evolution of Fusemachines’ AI Twin technology while inviting discussion on the technical, legal, social, and human implications of AI that can represent people at work

NEW YORK, Oct. 07, 2026 (GLOBE NEWSWIRE) — Fusemachines Inc. (NASDAQ: FUSE) (“Fusemachines” or the “Company”), a leading provider of enterprise AI products and services, today announced the launch of fuse.ai, a website dedicated to the Company’s emerging AI Twin technology and the broader questions surrounding a future in which AI systems may increasingly represent people in the workplace.

Fusemachines is introducing fuse.ai as a platform for its AI Twin research, technology demonstrations, and discussion of how AI could represent individuals in the workplace.

The initiative explores a fundamental idea: Can AI extend an individual’s presence, knowledge, perspective, and participation at work? The Company envisions AI Twins that could eventually attend meetings, contribute to discussions, share context, and support decisions within clearly defined boundaries.

The site features an illustrative demonstration of AI Twin technology participating in a workplace meeting, offering an early look at the technology under development.

“We have talked for years about our north star of fusing machines with humans,” said Sameer Maskey, Founder and CEO of Fusemachines. “AI Twins is our effort to bring that vision closer to reality and expand what people can do and where they can be present.”

The initiative reflects Fusemachines’ #OnHumanTerms philosophy: the belief that AI should be developed around human values, agency, transparency, and accountability. When a Twin speaks, does it convey the individual’s opinion, an inference, or an authorized decision? What authority should it have? Who is accountable, and how should consent, privacy, and confidential information be protected?

“How do we preserve trust, consent, and human agency when AI represents a person?” said Taylor Allen, Senior Director of People at Fusemachines. “These questions need to be considered while the technology is being built, not after it is deployed.”

Reliably representing an individual presents substantial technical challenges, including understanding context, maintaining memory, distinguishing knowledge from opinion, respecting permissions, and recognizing changing viewpoints.

“Building AI that answers questions is different from building AI that reliably represents a person,” said Anish Joshi, Head of Technology at Fusemachines. “The system must recognize uncertainty, understand its boundaries, and know when to bring the human back into the loop.”

Fusemachines plans to share updated demonstrations, experiments, and perspectives on AI Twins’ technical, legal, organizational, social, and ethical implications, and intends to invite employees, business leaders, technologists, policymakers, researchers, and the public to help shape the conversation.

Visit fuse.ai to view the demonstration, follow the research, and explore the questions guiding #OnHumanTerms.

About Fusemachines
Founded in 2013, Fusemachines is a global provider of enterprise AI products and services, on a mission to democratize AI. Leveraging proprietary AI Studio, AI Engines and AI Agents, the Company helps drive clients’ AI Enterprise Transformation, regardless of where they are in their Digital AI journeys. With offices in North America, Asia and Latin America, Fusemachines provides a suite of enterprise AI offerings and specialty services that allow organizations of any size to implement and scale AI.

Fusemachines continues to actively pursue the mission of democratizing AI by providing high-quality AI education in underserved communities and helping organizations achieve their full potential with AI.

To learn about Fusemachines, visit www.fusemachines.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the development, anticipated capabilities, potential uses, and timing of the Company’s AI Twin technology; the planned content and evolution of the fuse.ai website, including future demonstrations and experiments; the Company’s agentic AI programs, product development initiatives, commercialization strategy, enterprise AI offerings, and expected market opportunities. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “continue,” “could,” “envision,” “expect,” “intend,” “may,” “plan,” “potential,” “will,” “would,” and similar expressions.

These forward-looking statements are based on current expectations, estimates, assumptions, and projections and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risk that the Company’s AI Twin technology may not be successfully developed, may not achieve the capabilities described, or may never be commercialized; technical challenges in building AI systems that can reliably represent individuals, including risks of inaccurate, unauthorized, or unintended actions or communications; uncertain and evolving laws, regulations, and standards governing artificial intelligence, privacy, consent, identity, likeness, and the use of AI on behalf of individuals; potential reputational harm or liability associated with AI Twin technology; risks related to customer adoption and retention; the Company’s ability to develop, maintain, and enhance its products and platform; the ability of the Company’s AI solutions to deliver expected operational and business benefits; reliance on third-party platforms, partners, data, and infrastructure; competition in the markets in which the Company operates; cybersecurity, data privacy, regulatory, and intellectual property risks; and changing macroeconomic, industry, and market conditions.

Additional information regarding these and other risks and uncertainties is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K filed with the SEC on March 27, 2026, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date they are made, and Fusemachines undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Media Contact:

pr@fusemachines.com

Investor Contact:

ir@fusemachines.com

+1 347 212-5075

 

Hong Kong, Oct. 07, 2026 (GLOBE NEWSWIRE) — Mint Incorporation Limited (“Mint” or the “Company”, together with its subsidiaries, the “Group”, NASDAQ: MIMI), a Hong Kong-based company strategically focused on artificial intelligence (AI) and robotics as its primary growth engine, today announced that Axonex Robotics Limited (“Axonex”), its majority-owned subsidiary, has entered into an OEM Supply and License Agreement (the “Agreement”) with Centridex Limited (“Centridex”), a company incorporated in Ireland. Under the two-year Original Equipment Manufacturer (“OEM”) programme, which has a total potential value of approximately €3 million over the programme period, the parties have agreed an initial order package worth approximately €450,000, covering robot kits and platform licensing arrangements. Axonex will supply robot kits, platform licenses, standard, software and platform technology to Centridex, which would assemble, test and distribute the finished robots in Ireland and other selected markets.

The Agreement reflects the Group’s strategy of expanding its international footprint by supplying its robot kits and platform to overseas markets. Under the programme, from October 1, 2026 to September 30, 2028, the Group will design, manufacture and ship kits of parts, sub-assemblies, firmware and documentation for four product categories: the M3 robot kit, the Sumo cleaning robot kit, the Nex-class half-humanoid robot kit and the R-300 educational robot kit. Centridex will receive the kits in Ireland, assemble, test and resell the finished robots to its customers. The Group will also license its software and platform to Centridex and develop a Centridex-branded platform derived from the Group’s current robot model. The collaboration is intended to serve as a gateway for Axonex’s robotics solutions into Europe, leveraging local assembly and distribution capabilities to support future market expansion across the region.

As part of the Agreement, the parties have agreed an initial order for package valued at approximately €450,000, covering robot kits, platform licensing and related services under the programme. Future purchase orders and commercial schedules will be implemented under the framework of the Agreement.

Mr. Damian Chan, Chairman of the Board and Chief Executive Officer of Mint, stated: “This Agreement marks an important milestone in our international growth strategy and reflects the increasing demand for scalable robotics solutions beyond Asia. Through local assembly and distribution in Ireland, we believe the programme could establish a foundation for broader access to European customers. Working with Centridex as our local assembler and reseller, we aim for it to become a sales channel for Axonex technology in Europe, bringing a broader range of robotics solutions, including educational robots, cleaning robots and  our flagship Nex-class semi-humanoid robot, to customers across Europe. We look forward to working closely with Centridex to commence implementation of the programme and deliver the first shipment of kits, laying the groundwork for the next stage of Axonex’s international growth.”

Mr. Milan Urbanczyk, Managing Director of Centridex, added: “We are pleased to sign this Agreement with Axonex. The programme will allow us to broaden our product portfolio with robots assembled in Ireland from Axonex kits, and we are confident these robots will appeal to our customers. We look forward to implementing the programme and building a lasting relationship with Axonex.”

The Agreement is non-exclusive and establishes the framework governing the OEM supply, platform licensing and Ireland-based assembly arrangement. Future purchase orders, product specifications and commercial schedules will be implemented in accordance with the Agreement.

– End-

About Mint Incorporation Limited  

Mint Incorporation Limited (NASDAQ: MIMI) is a Hong Kong-based company listed on NASDAQ, strategically focused on artificial intelligence (AI), robotics, and interior design. Through its wholly-owned subsidiary Axonex AI Limited (Axonex AI), and through its majority-owned subsidiary Axonex Robotics Limited (Axonex Robotics), Mint delivers comprehensive intelligent automation solutions. Axonex AI specializes in smart facility management, integrating robotics, IoT, physical AI solutions such as humanoid robots and AI-powered analytics to provide real-time monitoring and predictive insights. In addition, through Matter International Limited, the Group provides professional interior design and fit-out services. Anchored by innovation and practical application, Mint is committed to enhancing efficiency, safety, and quality of life across industries.

About Centridex Limited  

Centridex Limited is a technology trading company incorporated in Ireland and headquartered in Dublin. The company sources technology products from suppliers worldwide, including robotics and smart platforms, and supplies them to customers internationally.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”).

Media Enquiries
Strategic Financial Relations Limited
Vicky Lee	Tel: (852) 2864 4834	E-mail: vicky.lee@sprg.com.hk
Rachel Ko	Tel: (852) 2114 2370	E-mail: rachel.ko@sprg.com.hk
Cherrie Man	Tel: (852) 2864 4846	E-mail: cherrie.man@sprg.com.hk
Mint Incorporation Limited
Investor and Media Relations	[info@mimintinc.com]	[http://www.mimintinc.com/ ]

Board Maintains Quarterly Cash Dividend at $0.22 Per Share; Payable November 24, 2026

BOCA RATON, Fla., Oct. 07, 2026 (GLOBE NEWSWIRE) — Q.E.P. CO., INC. (OTCQX: QEPC) (“QEP” or the “Company”) today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.22 per share on the Company’s common stock.

The dividend will be payable on November 24, 2026, to stockholders of record as of the close of business on November 6, 2026.

The dividend reflects QEP’s ongoing commitment to disciplined capital allocation and its focus on generating long-term value for stockholders.

About QEP

Founded in 1979, Q.E.P. Co., Inc. is a leading designer, manufacturer and distributor of a broad range of best-in-class flooring installation solutions for commercial and home improvement projects. QEP offers a comprehensive line of specialty installation tools, adhesives, and underlayment products. QEP sells its products worldwide through home improvement retail centers and professional specialty distribution outlets under brand names including QEP®, LASH®, ROBERTS®, Capitol®, Spray-Lock®, Premix-Marbletite® (PMM), Brutus®, and Homelux®.

QEP is headquartered in Boca Raton, Florida and operates additional facilities in the United States, Canada and Asia.

For more information, please visit our website at www.qep.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements regarding the Company’s capital allocation strategy, commitment to shareholder returns, generation of long-term stockholder value, financial flexibility, growth initiatives, and other statements that are not historical facts. These statements are based on current expectations and assumptions and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

Such risks and uncertainties include, among others, changes in general economic and business conditions; inflationary pressures; tariffs, trade policies, and geopolitical developments; fluctuations in raw material, labor, freight, and energy costs; supply chain disruptions; competitive market conditions; customer demand; and the other risks and uncertainties described in the Company’s public disclosures. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable law.

CONTACT:
Q.E.P. Co., Inc.
Enos Brown
Executive Vice President and
Chief Financial Officer
561-994-5550

Expecting 1.2 Million New Covered Lives from Commitments to Date and Anticipated Remaining Decisions 

Reflects How Employers are Increasingly Turning to Solutions with a Proven Track Record of Delivering Savings, Total Cost Management and ROI

Progyny’s Solutions Creating Compelling Opportunities for Employers to Stem Impacts from Broader Medical Cost Inflation Trend While Maintaining or Expanding Coverage of Services Impactful to their Workforce

NEW YORK, Oct. 07, 2026 (GLOBE NEWSWIRE) — Progyny, Inc. (Nasdaq: PGNY) (“Progyny” or the “Company”), a global leader in women’s health and family building solutions, today revealed key insights from the Company’s current annual selling season, based on both commitments received to date and anticipated remaining decisions which are expected to contribute 1.2 million new covered lives from launches throughout the first half of 2027.

Employers are now weighing how to best meet the complex needs of their workforce while simultaneously wrestling with the broader escalation in the overall medical cost trend. Progyny’s solutions are addressing very real and highly prevalent medical needs for women and families, making these categories particularly relevant to today’s workforce.

This season, Progyny is seeing the savviest and most data-intensive employers meet this challenge — whether or not they currently provide coverage for infertility — by leaning into those benefit managers, like Progyny, who have a proven history of mitigating that broader cost trend through programs that drive savings through a combination of superior clinical outcomes and effective total cost management.

“With the commitments we have received to date and anticipated remaining decisions, our selling season is pacing to a potential record level for new lives added for our managed fertility solution,” said Pete Anevski, Chief Executive Officer, Progyny. “We believe it isn’t coincidental that we’re seeing these strong results given the expected record increases in the overall medical plan cost in 2027.”

While buyers continue to be focused on cost, quality, and member experience, there is also a heightened focus on accountability and a proven track record of success. Progyny’s innovative program has demonstrated a consistent ability to increase the effectiveness of fertility treatment while lowering the risk of costly complications, including high-risk pregnancies, miscarriages, and multiple births.

“For those employers actively looking for ways to maintain or expand the family building services they are providing to their workforce in 2027, and who recognize the importance of doing so in a fiscally responsible way, Progyny’s standard practice includes an accelerated contracting path when working through one of our many channel partners and our best-in-class implementation timetable,” concluded Anevski.

For Further Information, Please Contact:

Investors:
James Hart
investors@progyny.com

Media:
Alexis Ford
media@progyny.com

About Progyny

Progyny (Nasdaq: PGNY) is a global leader in women’s health and family building solutions, trusted by the nation’s leading employers, health plans and benefit purchasers. We envision a world where everyone can realize their dreams of family and ideal health. Our outcomes prove that comprehensive, inclusive and intentionally designed solutions simultaneously benefit employers, patients, and physicians.

Our benefits solution empowers patients with concierge support, coaching, education, and digital tools; provides access to a premier network of fertility and women’s health specialists who use the latest science and technologies; drives optimal clinical outcomes; and reduces healthcare costs.

Headquartered in New York City, Progyny has been recognized for its leadership and growth as a TIME100 Most Influential Company, CNBC Disruptor 50, Modern Healthcare’s Best Places to Work in Healthcare, Forbes’ Best Employers, Financial Times Fastest Growing Companies, INC. 5000, INC. Power Partners and Crain’s Fast 50 for NYC. For more information, visit www.progyny.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the impact of our sales season and client launches; our anticipated number of clients and covered lives for 2026; our expected utilization rates and mix; the demand for our solutions; our expectations for our selling season for 2027 launches; our positioning to successfully manage economic uncertainty on our business; the timing of client decisions; our ability to retain existing clients and acquire new clients; and our business strategy, plans, goals and expectations concerning our market position, future operations, and other financial and operating information. The words “anticipates,” “assumes,” “believe,” “contemplate,” “continues,” “could,” “estimates,” “expects,” “future,” “intends,” “may,” “plans,” “predict,” “potential,” “project,” “seeks,” “should,” “target,” “will,” and the negative of these or similar expressions and phrases are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions.

Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, without limitation, failure to meet our publicly announced guidance or other expectations about our business; competition in the market in which we operate; our history of operating losses and ability to sustain profitability; unfavorable conditions in our industry or the United States economy; our limited operating history and the difficulty in predicting our future results of operations; our ability to attract and retain clients and increase the adoption of services within our client base; the loss of any of our largest client accounts; changes in the technology industry; changes or developments in the health insurance market; negative publicity in the health benefits industry; lags, failures or security breaches in our computer systems or those of our vendors; a significant change in the utilization of our solutions; our ability to offer high-quality support; positive references from our existing clients; our ability to develop and expand our marketing and sales capabilities; the rate of growth of our future revenue; the accuracy of the estimates and assumptions we use to determine the size of target markets; our ability to successfully manage our growth; reductions in employee benefits spending; seasonal fluctuations in our sales; the adoption of new solutions and services by our clients or members; our ability to innovate and develop new offerings; our ability to adapt and respond to the changing medical landscape, regulations, and client needs, requirements or preferences; our ability to maintain and enhance our brand; our ability to attract and retain members of our management team, key employees, or other qualified personnel; risks related to any litigation against us; our ability to maintain our Center of Excellence network of healthcare providers; our strategic relationships with and monitoring of third parties; our ability to maintain our pharmacy distribution network if there is a disruption to our network or its associated supply chains; our relationship with key pharmacy program partners or any decline in rebates provided by them; our ability to maintain our relationships with benefits consultants; exposure to credit risk from our members; risks related to government regulation; risks related to our business with government entities; our ability to protect our intellectual property rights; risks related to acquisitions, strategic investments, or partnerships; federal tax reform and changes to our effective tax rate; the imposition of state and local state taxes; our ability to utilize a portion of our net operating loss or research tax credit carryforwards; our ability to develop or maintain effective internal control over financial reporting; and our ability to adapt and respond to the changing SEC or stakeholder expectations regarding environmental, social and governance practices. For a detailed discussion of these and other risk factors, please refer to our filings with the Securities and Exchange Commission (the “SEC”), including in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and subsequent reports that we file with the SEC, which are available at http://investors.progyny.com and on the SEC’s website at https://www.sec.gov.

Forward-looking statements represent our management’s beliefs and assumptions only as of the date of this press release. Our actual future results could differ materially from what we expect. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons.

TEL AVIV, Israel, Oct. 07, 2026 (GLOBE NEWSWIRE) — SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), today announced that NeuroThera Labs Inc. (TSXV: NTLX) (“NeuroThera”), a clinical-stage pharmaceutical company focused on developing novel treatments for central nervous system disorders, that CliniQuantum Ltd. (“CliniQuantum”), NeuroThera’s  majority owned subsidiary, reported that its Graphics Processing Unit- accelerated (“GPU”) quantum-simulation platform achieved an approximately 16.8-fold computational acceleration using a single machine with 64 cores (x86_64) and a single NVIDIA T4 Tensor Core GPU compared with the same 64-vCPU machine with only Central Processing Unit (“CPU”) implementation.

The evaluation used a real clinical gene-expression dataset comprising 11 patients and 3,531 gene-expression features, representing a challenging high-dimensional setting in which the number of biological variables greatly exceeds the number of patients.

The algorithm operated by CliniQuantum searched for correlated three-gene configurations across the dataset. The 3,531 genes generated 7,331,162,245 possible three-gene combinations. Using a predefined minimum correlation threshold, the algorithm identified approximately 22.2 million correlated gene triplets.

The analysis required approximately 8.4 hours using 64 vCPUs (virtual CPU), compared with approximately 0.5 hours when accelerated using a single NVIDIA T4 GPU, while producing the same qualifying gene-triplet results.

The benchmark was conducted on an AWS g4dn.16xlarge EC2 machine using an IBM Qiskit Aer GPU-based quantum simulation, with a NVIDIA T4 Tensor Core GPU. The benchmark was designed to evaluate computational performance and did not evaluate or establish the clinical validity, predictive value, or potential utility of any identified gene combinations.

CliniQuantum intends to continue advancing its algorithms toward the analysis of increasingly complex multi-feature configurations and larger biomedical datasets, while progressing its development pathway from simulation and validation toward execution on quantum computing hardware.

About SciSparc Ltd. (Nasdaq: SPRC):

The Company, through its majority-owned subsidiary NeuroThera, engages in clinical-stage pharmaceutical developments. SciSparc’s focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company, together with its majority-owned subsidiary NeuroThera, is currently engaged in the following drug development programs based on THC and/or non-psychoactive CBD: SCI-110 for the treatment of Tourette syndrome, for the treatment of Alzheimer’s disease and agitation; and SCI- 210 for the treatment of autism spectrum disorder and status epilepticus. The Company, through NeuroThera, also owns a controlling interest in a subsidiary whose business focuses on the sale of hemp seed oil-based products on the Amazon.com Marketplace.

About NeuroThera Labs Inc.

NeuroThera is a clinical-stage pharmaceutical company focused on developing novel therapeutics for central nervous system disorders and other underserved health conditions through collaborations and innovative combinations.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, SciSparc uses forward-looking statements when it discusses the potential benefits and advantages of CliniQuantum’s algorithm, its advancement toward the analysis of increasingly complex multi-feature configurations and larger biomedical datasets and progressing its development pathway from simulation and validation toward execution on quantum computing hardware. Because such statements deal with future events and are based on SciSparc’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of SciSparc could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in SciSparc’s Annual Report on Form 20-F, filed with the SEC on April 29, 2026, as amended, and in subsequent filings with the U.S. Securities and Exchange Commission. Except as otherwise required by law, SciSparc disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.

Investor Contact:
IR@scisparc.com
Tel: +972-3-6167055

Potentially accelerates development, assessment, and review for approval by FDA

Sepsis impacts about 1.7 million U.S. adults annually and
contributes to nearly one in three in-hospital deaths

DENVER, Oct. 07, 2026 (GLOBE NEWSWIRE) — SeaStar Medical Holding Corporation (Nasdaq: ICU), a commercial-stage healthcare company focused on transformational treatments for critically ill patients facing organ failure and potential loss of life, announced today that the U.S. Food and Drug Administration (FDA) has granted SeaStar Medical Breakthrough Device Designation for its Selective Cytopheretic Device (SCD) therapy for the treatment of hyperinflammation in adult patients with sepsis or a septic condition. The Breakthrough Device Designation is a regulatory pathway designed to provide for accelerated development, assessment, and review for FDA approval of medical devices and potentially more effective treatments of life-threatening or irreversibly debilitating diseases or conditions. This marks the seventh Breakthrough Device Designation for the SCD therapy thus far across a range of indications.

“This new Breakthrough Device Designation for our SCD therapy continues to exemplify the importance and critical need for an innovative therapy that can effectively treat the hyperinflammation that destroys organs and takes far too many lives each year,” stated Eric Schlorff, CEO of SeaStar Medical. “Our protocol for the ongoing NEUTRALIZE-AKI pivotal clinical trial includes pre-specified statistical analysis of the subset of patients with sepsis or septic like condition, and as such, we expect to have important data to present to the FDA for this indication in the near term. We will move as quickly as possible to submit the relevant data to the FDA and discuss ways to help these patients who today have few options for effectively treating sepsis.”

Sepsis is a medical emergency caused by an overreaction of the immune system to an infection. It often results in an uncontrolled “cytokine storm” that drives widespread immune activation and endothelial injury. In severe cases, this culminates in septic shock, organ dysfunction, and ultimately death. Today, there are no FDA approved therapies to address the dysregulated inflammatory host response in sepsis.

In the U.S. alone, sepsis impacts an estimated 1.7 million adults annually and contributes to nearly one in three in-hospital deaths.  For the patients who survive the acute phase of illness, up to 70% experience post-sepsis syndrome, a debilitating condition characterized by persistent immune dysregulation, cognitive decline, and physical impairments that severely degrade health-related quality of life.  This combination of high acute mortality and enduring chronic morbidity makes sepsis one of the main drivers of cost in the U.S. Healthcare System.

“Sepsis remains one of the most challenging conditions we face in critical care, in large part because treating the infection does not necessarily stop the dysregulated immune response that drives organ injury,” said Kevin Chung, MD, Chief Medical Officer of SeaStar Medical. “The SCD therapy is designed to selectively modulate that response without broadly suppressing the immune system. This Breakthrough Device Designation underscores the significant unmet need in the treatment of sepsis, and we look forward to working with the FDA to advance this therapy for critically ill patients.”

Dr. Chung continued, “This is now the seventh indication for which the SCD has received Breakthrough Device Designation. Each reflects the FDA’s determination that the applicable criteria have been met, including a reasonable expectation that the technology could provide more effective treatment for a life-threatening or irreversibly debilitating condition. We believe the breadth of these designations reinforces the disease-agnostic potential of the SCD platform to address dysregulated inflammation across multiple serious conditions, and we are committed to generating the clinical evidence needed to advance these indications.”

SeaStar Medical also recognizes Col. (Ret.) Ian Stewart, MD, USAF, a talented nephrologist and physician-scientist, who made important contributions to this FDA submission while serving as a Skillbridge Fellow with SeaStar Medical through the Hiring Our Heroes program. SeaStar Medical is proud to have supported this program and grateful for the expertise Dr. Stewart brought to the team.

SeaStar Medical’s seven Breakthrough Device Designations, including its first designation for a pediatric indication, have been granted by CBER for treatment of the following conditions:

• Immunomodulatory dysregulation in adult patients with acute kidney injury (AKI);
• Systemic inflammatory response in adult cardiac surgery;
• Systemic inflammatory response in pediatric cardiac surgery to prevent post-operative adverse complications and outcomes;
• Acute on chronic systolic heart failure and worsening renal function due to cardiorenal syndrome awaiting LVAD implantation;
• Chronic systemic inflammation in end-stage renal disease (ESRD) requiring chronic dialysis;
• Adult patients with Hepatorenal Syndrome (HRS);
• Hyperinflammation in adult patients with sepsis or a septic condition.

About the FDA’s Breakthrough Device Designation

FDA grants Breakthrough Device Designation when a device has the potential to provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating human disease or conditions. It must also represent one or more of the following: a) a breakthrough technology, b) a therapeutic treatment where no approved or cleared alternatives exist, c) offer significant advantages over existing approved or cleared alternative, and/or d) the device availability is in the best interest of patients. The Breakthrough Device Designation is designed to provide timely access to medical devices to speed up development, assessment, and review for FDA approval.

About QUELIMMUNE

The QUELIMMUNE^® (SCD-PED) therapy is being commercialized for children with AKI and sepsis or a septic condition weighing 10 kilograms or more who are on antibiotics and being treated in the ICU with RRT.

Data from two clinical trials of the QUELIMMUNE therapy, published in Kidney Medicine, showed a 77% survival rate in patient treated with QUELIMMUNE versus standard of care, representing an approximate 50% reduction in loss of life compared to historical data in this patient population. No dialysis was required for survivors, and 87.5% of survivors had normal kidney function at Day 60 after ICU discharge. In February 2026, data published in the prestigious, peer-reviewed journal, Pediatric Nephrology, highlighted the early experience from the QUELIMMUNE SAVE Registry, a post-approval surveillance registry, evaluating the role of the QUELIMMUNE therapy in the treatment of critically ill pediatric patients with life-threatening Acute Kidney Injury (AKI) and sepsis requiring renal replacement therapy. Observations from the first 21 pediatric patients with AKI and sepsis requiring renal replacement therapy showed no device-related adverse events or infections and no reports of immunosuppressive effects by the device. In addition, preliminary outcomes analyses show a 76% survival rate at Day 28 and Day 60, and a 71% survival rate at Day 90. These new data are on track to validate an observed 50% reduction in patient mortality at 60 days compared to historical data, similar to what was observed in the registration study reported in Kidney Medicine.

The patented technology behind QUELIMMUNE is known as the Selective Cytopheretic Device (SCD) therapy and has broad applications for treating the destructive hyperinflammation that shuts down organ function and causes loss of life.

QUELIMMUNE was approved by FDA under a Humanitarian Device Exemption based on safety and probable benefit.  The effectiveness of this device for this use has not been demonstrated. Adverse reactions observed in clinical studies include hypotension, hypothermia, tachycardia, hyperglycemia, and thrombocytopenia. Additional risks may include blood loss or extracorporeal circuit complications. QUELIMMUNE must be used with citrate anticoagulation. For complete risk information, please see: https://seastarmedical.com/quelimmune 

About the SeaStar Medical Selective Cytopheretic Device (SCD) Therapy

The SCD therapy is designed as a disease-modifying device that neutralizes over-active immune cells and stops the cytokine storm that yields destructive hyperinflammation and creates a cascade of events that wreak havoc in the patient’s body. The SCD therapy is designed for broad applications in multiple acute and chronic kidney and cardiovascular diseases, representing patients who today have no FDA-approved options for treating their disease. Unlike pathogen removal and other blood-purification tools, the SCD therapy is integrated with an existing continuous RRT hemofiltration system to selectively target and transition proinflammatory monocytes to a reparative state and promote activated neutrophils to be less inflammatory. This unique immunomodulation approach may promote long-term organ recovery, eliminate the need for future continuous RRT, including dialysis, and prevent loss of life.  

About NEUTRALIZE-AKI Pivotal Trial

The NEUTRALIZE-AKI (NEUTRophil and monocyte deActivation via SeLective Cytopheretic Device – a randomIZEd clinical trial in Acute Kidney Injury) pivotal trial is evaluating the safety and efficacy of the SCD therapy in 339 adults with AKI in the ICU receiving continuous RRT. The trial’s primary endpoint is a composite of 90-day mortality or dialysis dependency of patients treated with the SCD therapy in addition to continuous RRT as the standard of care, compared with the control group receiving only continuous RRT standard of care. Secondary endpoints include mortality at 28 days, ICU-free days in the first 28 days, major adverse kidney events at Day 90 and dialysis dependency at one year. The study will also include subgroup analyses to explore the effectiveness of the SCD therapy in AKI patients with sepsis and acute respiratory distress syndrome. 

About Acute Kidney Injury (AKI) and Hyperinflammation 

AKI is characterized by a sudden and temporary loss of kidney function and can be caused by a variety of conditions such as severe infections or other septic conditions, severe trauma, surgery, and organ failures. AKI can cause destructive hyperinflammation, which is the overproduction or overactivity of inflammatory effector cells and other molecules that can be toxic. Damage resulting from this destructive hyperinflammation in AKI can progress to other organs, such as the heart or liver, and potentially to multi-organ dysfunction or even failure that could result in worse outcomes, including increased risk of death. Even after resolution, these patients may face complications including chronic kidney disease or end-stage renal disease (ESRD) requiring dialysis. Extreme hyperinflammation may also contribute to added healthcare costs, such as prolonged ICU stays and increased reliance on dialysis and mechanical ventilation.

About SeaStar Medical

SeaStar Medical is a commercial-stage healthcare company focused on transformational treatments for critically ill patients facing organ failure and potential loss of life. SeaStar Medical’s first commercial product, QUELIMMUNE (SCD-PED), was approved in 2024 by the U.S. Food and Drug Administration (FDA). It is the only FDA approved product for the ultra-rare condition of life-threatening Acute Kidney Injury (AKI) due to sepsis or a septic condition requiring renal replacement therapy (RRT) in critically ill pediatric patients. SeaStar Medical’s Selective Cytopheretic Device (SCD) therapy has been awarded Breakthrough Device Designation for six therapeutic indications by the FDA, enabling the potential for a speedier pathway to approval and preferable reimbursement dynamics at commercial launch. The company is currently conducting the NEUTRALIZE-AKI pivotal clinical trial of its SCD therapy in adult patients with AKI requiring continuous renal replacement therapy, a life-threatening condition with no effective treatment options that impacts over 200,000 adults in the U.S. annually.

For more information visit www.seastarmedical.com or visit us on LinkedIn or X.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1955. These forward-looking statements include, without limitation, SeaStar Medical’s expectations with respect to the total addressable market for the SCD applications; the ability of SeaStar Medical to gain market share and generate; the amount and timing of future QUELIMMUNE commercial sales; commercial acceptance of QUELIMMUNE; the ability of SCD to treat patients with AKI and other diseases; the expected regulatory approval process and timeline for commercialization; and the ability of SeaStar Medical to meet the expected timeline. Words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside SeaStar Medical’s control and are difficult to predict. Factors that may cause actual future events to differ materially from the expected results include, but are not limited to: (i) the risk that SeaStar Medical may not be able to obtain regulatory approval of its SCD product candidates; (ii) the risk that SeaStar Medical may not be able to raise sufficient capital to fund its operations, including current or future clinical trials; (iii) the risk that SeaStar Medical and its current and future collaborators are unable to successfully develop and commercialize its products or services, or experience significant delays in doing so, including failure to achieve approval of its products by applicable federal and state regulators, (iv) the risk that SeaStar Medical may never achieve or sustain profitability; (v) the risk that SeaStar Medical may not be able to secure additional financing on acceptable terms; (vi) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (vii) the risk of product liability or regulatory lawsuits or proceedings relating to SeaStar Medical’s products and services, (viii) the risk that SeaStar Medical is unable to secure or protect its intellectual property, and (ix) other risks and uncertainties indicated from time to time in SeaStar Medical’s Annual Report on Form 10-K, including those under the “Risk Factors” section therein and in SeaStar Medical’s other filings with the SEC. The foregoing list of factors is not exhaustive. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SeaStar Medical assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 

Contact:  
IR@SEASTARMED.COM

QUELIMMUNE is a registered trademark of SeaStar Medical Holding Corporation.

Matthew Latino appointed CFO; Michael Bishop to continue as senior advisor

DANBURY, Conn., Oct. 07, 2026 (GLOBE NEWSWIRE) — FuelCell Energy, Inc. (Nasdaq: FCEL) today announced that Michael Bishop will transition from his role as Executive Vice President, Chief Financial Officer and Treasurer of the Company. Matthew Latino will succeed him as Executive Vice President, Chief Financial Officer and Treasurer effective October 7, 2026, as part of a planned transition. Bishop, who has served as the Company’s CFO for 15 years during an overall tenure with the Company of more than two decades, will remain with FuelCell Energy as a senior advisor through the Company’s 2027 Annual Meeting of Stockholders to support continuity and the transition.

FuelCell Energy also reaffirmed its previously stated target of achieving positive Adjusted EBITDA results in the fourth quarter of fiscal 2027, subject to the planned increase in annualized production rate, the conversion of awarded capacity backlog into committed backlog, customer delivery schedules and continued execution of the Company’s cost reduction initiatives. The Company remains focused on converting its growing commercial pipeline—driven by demand for reliable, always-on power for AI and data center infrastructure—into durable growth, while scaling manufacturing, advancing customer financing structures and maintaining disciplined capital allocation, liquidity and balance sheet strength.

“Mike has been a steward of this Company through every stage of its journey,” said Jason Few, President and Chief Executive Officer. “Over more than two decades, he led our finance organization through periods that tested our business and our industry while maintaining a clear focus on financial discipline, integrity, the long-term interests of the business, and our commitment to shareholders. His leadership across capital formation, project finance and balance sheet management strengthened our financial foundation and supported the evolution of our strategy. I am grateful for his service and pleased that we will continue to benefit from his perspective during the transition.”

“Serving as CFO of FuelCell Energy has been one of the great privileges of my career,” said Bishop. “I am proud of what our finance team and our colleagues across the Company have accomplished together and of the strong foundation we have built. I have tremendous confidence in Jason, the leadership team, and the Board, and I look forward to supporting a seamless transition and sharing in the Company’s success as a continuing shareholder.”

Latino joins FuelCell Energy from Xylem Inc. (NYSE: XYL), where he served as Senior Vice President, Finance and Segment Chief Financial Officer of its approximately $2 billion Measurement & Control Solutions business. He previously led Xylem’s investor relations function, giving him direct experience engaging the investment community and communicating strategy, performance and long-term value creation. Latino began his career at Deloitte & Touche LLP.

“As we scale, our responsibility to shareholders is to grow with discipline-every megawatt we build and every dollar we deploy must compound value,” Few said. “Matt has led finance for a large-scale industrial technology business, partnered with operating leaders to drive performance, and led investor relations for a global public company. He understands how the market measures execution and how to build the operating rhythm that delivers it. We believe he is the right leader to help us convert a significant commercial opportunity into durable shareholder value.”

“I am honored to join FuelCell Energy at an important point in the Company’s evolution,” said Latino. “The Company has a differentiated technology platform, a strong financial foundation and clear strategic priorities. I look forward to partnering with Jason, the leadership team and the Board to build on the foundation Mike helped establish, maintain rigorous financial discipline, and support the execution and investment decisions required to scale the business and create sustainable value.”

FuelCell Energy, Inc. (Nasdaq: FCEL) is an American clean energy technology company delivering continuous, scalable baseload power for mission-critical applications globally. The company’s fuel cell systems generate electricity directly at the point of use, enabling reliable, low-emissions power for data centers, industrial facilities, utilities, and distributed generation customers. FuelCell Energy delivers commercially proven, modular, utility-scale systems—backed by global fuel cell deployments approaching one gigawatt. Learn more at www.FuelCellEnergy.com. 

Cautionary Language

This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 regarding future events or our future financial performance that involve certain contingencies and uncertainties. The forward-looking statements include, without limitation, statements with respect to the Company’s anticipated financial results and statements regarding the Company’s plans and expectations regarding the continuing development, commercialization and financing of its current and future fuel cell technologies, the Company’s business plans and strategies, the Company’s plan to reduce operating costs, the capabilities of the Company’s products, the Company’s plans and ability to achieve positive Adjusted EBITDA, subject to the planned increase in annualized production rate, the conversion of awarded capacity backlog into committed backlog, customer delivery schedules and continued execution of the Company’s cost reduction initiatives, the Company’s potential sales pipeline, opportunities, and partners, and the markets in which the Company expects to operate. Projected and estimated numbers contained herein are not forecasts and may not reflect actual results. These forward-looking statements are not guarantees of future performance, and all forward-looking statements are subject to risks and uncertainties, known and unknown, that could cause actual results and future events to differ materially from those projected. Factors that could cause such a difference include, without limitation: general risks associated with product development and manufacturing; general economic conditions; changes in interest rates, which may impact project financing; supply chain disruptions; changes in the utility regulatory environment; changes in the utility industry and the markets for distributed generation, distributed hydrogen, and fuel cell power plants configured for carbon capture or carbon separation; potential volatility of commodity prices that may adversely affect our projects; availability of government subsidies and economic incentives for alternative energy technologies; our ability to remain in compliance with U.S. federal and state and foreign government laws and regulations; our ability to maintain compliance with the listing rules of The Nasdaq Stock Market; rapid technological change; competition; the risk that our bid awards (or other non-binding commitments) will not convert to contracts or that our contracts will not convert to revenue; market acceptance of our products; changes in accounting policies or practices adopted voluntarily or as required by accounting principles generally accepted in the United States; factors affecting our liquidity position and financial condition; government appropriations; the ability of the government and third parties to terminate their development contracts at any time; the ability of the government to exercise “march-in” rights with respect to certain of our patents; our ability to successfully market and sell our products internationally; delays in our timeline for bringing commercially viable products to market; our ability to develop additional commercially viable products in the future; our ability to implement our strategy; our ability to reduce our levelized cost of energy and deliver on our cost reduction strategy generally; our ability to protect our intellectual property; litigation and other proceedings; the risk that commercialization of our new products will not occur when anticipated or, if it does, that we will not have adequate capacity to satisfy demand; our need for and the availability of additional financing; our ability to generate positive cash flow from operations; our ability to service our long-term debt; our ability to increase the output and longevity of our platforms and to meet the performance requirements of our contracts; our ability to expand our customer base and maintain relationships with our largest customers and strategic business allies; our ability to reduce operating costs; and our ability to achieve positive Adjusted EBITDA in the future, as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2025. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement contained herein to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Contacts

Media:
Kathleen Blomquist
kblomquist@fce.com
203.546.5844

Investor Relations:
ir@fce.com