Tag: PR Newswire

GOTHENBURG, Sweden, Dec. 22, 2025 /PRNewswire/ — For the third consecutive year SKF has earned an ‘A’ score in the category Climate Change from CDP, the global non-profit leading environmental disclosure.

In 2025 nearly 20,000 companies were scored through CDP’s platform. Achieving the top score ‘A’ in climate change places SKF among the global leaders demonstrating comprehensive disclosure, mature environmental governance, and meaningful progress towards environmental resilience.

“We are proud to have received A rating from CDP. This recognition highlights our continuous progress and reflects the commitment of our employees to drive positive change. This award is proof that we keep our leadership level in sustainability, but also a reminder that we must continue to drive the transition towards a sustainable society,” says Sofie Runius Cederberg, Head of Sustainability at SKF.

“High quality data gives leaders the confidence to make earth-positive decisions that secure long-term competitiveness, attract capital and safeguard natural systems. This shows what is possible when transparency becomes the foundation for action,” says Sherry Madera, CEO of CDP.

The CDP Climate Change score provides a benchmark for corporate disclosure and environmental performance, enabling comparability across industries. By achieving leadership status, SKF is recognized for its commitment to climate action, strategic alignment with frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD), and implementation of best practices in sustainability.

SKF has committed to decarbonizing all operations by 2030 and achieving a net-zero supply chain by 2050. Progress includes a 59% reduction of Scope 1 and 2 emissions in 2024 compared to the 2019 base year – well ahead of the 2030 goal trajectory.

Aktiebolaget SKF

      (publ)

For further information, please contact:
Press Relations: Karin Markhede, +46 70 758 87 30; karin.markhede@skf.com 
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072; sophie.arnius@skf.com 

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

https://news.cision.com/skf/r/skf-achieves-prestigious-cdp–a–score-for-environmental-leadership,c4285556

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View original content:https://www.prnewswire.com/news-releases/skf-achieves-prestigious-cdp-a-score-for-environmental-leadership-302647862.html

SOURCE SKF

GOTHENBURG, Sweden, Dec. 22, 2025 /PRNewswire/ — For the third consecutive year SKF has earned an ‘A’ score in the category Climate Change from CDP, the global non-profit leading environmental disclosure.

In 2025 nearly 20,000 companies were scored through CDP’s platform. Achieving the top score ‘A’ in climate change places SKF among the global leaders demonstrating comprehensive disclosure, mature environmental governance, and meaningful progress towards environmental resilience.

“We are proud to have received A rating from CDP. This recognition highlights our continuous progress and reflects the commitment of our employees to drive positive change. This award is proof that we keep our leadership level in sustainability, but also a reminder that we must continue to drive the transition towards a sustainable society,” says Sofie Runius Cederberg, Head of Sustainability at SKF.

“High quality data gives leaders the confidence to make earth-positive decisions that secure long-term competitiveness, attract capital and safeguard natural systems. This shows what is possible when transparency becomes the foundation for action,” says Sherry Madera, CEO of CDP.

The CDP Climate Change score provides a benchmark for corporate disclosure and environmental performance, enabling comparability across industries. By achieving leadership status, SKF is recognized for its commitment to climate action, strategic alignment with frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD), and implementation of best practices in sustainability.

SKF has committed to decarbonizing all operations by 2030 and achieving a net-zero supply chain by 2050. Progress includes a 59% reduction of Scope 1 and 2 emissions in 2024 compared to the 2019 base year – well ahead of the 2030 goal trajectory.

Aktiebolaget SKF

      (publ)

For further information, please contact:
Press Relations: Karin Markhede, +46 70 758 87 30; karin.markhede@skf.com 
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072; sophie.arnius@skf.com 

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

https://news.cision.com/skf/r/skf-achieves-prestigious-cdp–a–score-for-environmental-leadership,c4285556

The following files are available for download:

 

View original content:https://www.prnewswire.com/news-releases/skf-achieves-prestigious-cdp-a-score-for-environmental-leadership-302647862.html

SOURCE SKF

GOTHENBURG, Sweden, Dec. 22, 2025 /PRNewswire/ — For the third consecutive year SKF has earned an ‘A’ score in the category Climate Change from CDP, the global non-profit leading environmental disclosure.

In 2025 nearly 20,000 companies were scored through CDP’s platform. Achieving the top score ‘A’ in climate change places SKF among the global leaders demonstrating comprehensive disclosure, mature environmental governance, and meaningful progress towards environmental resilience.

“We are proud to have received A rating from CDP. This recognition highlights our continuous progress and reflects the commitment of our employees to drive positive change. This award is proof that we keep our leadership level in sustainability, but also a reminder that we must continue to drive the transition towards a sustainable society,” says Sofie Runius Cederberg, Head of Sustainability at SKF.

“High quality data gives leaders the confidence to make earth-positive decisions that secure long-term competitiveness, attract capital and safeguard natural systems. This shows what is possible when transparency becomes the foundation for action,” says Sherry Madera, CEO of CDP.

The CDP Climate Change score provides a benchmark for corporate disclosure and environmental performance, enabling comparability across industries. By achieving leadership status, SKF is recognized for its commitment to climate action, strategic alignment with frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD), and implementation of best practices in sustainability.

SKF has committed to decarbonizing all operations by 2030 and achieving a net-zero supply chain by 2050. Progress includes a 59% reduction of Scope 1 and 2 emissions in 2024 compared to the 2019 base year – well ahead of the 2030 goal trajectory.

Aktiebolaget SKF

      (publ)

For further information, please contact:
Press Relations: Karin Markhede, +46 70 758 87 30; karin.markhede@skf.com 
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072; sophie.arnius@skf.com 

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

https://news.cision.com/skf/r/skf-achieves-prestigious-cdp–a–score-for-environmental-leadership,c4285556

The following files are available for download:

 

View original content:https://www.prnewswire.com/news-releases/skf-achieves-prestigious-cdp-a-score-for-environmental-leadership-302647862.html

SOURCE SKF

KEMBLE, UK and EVERETT, Wash., Dec. 22, 2025 /PRNewswire/ — ZeroAvia today announced that it has completed a further round of financing, led by Barclays Climate Ventures, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Horizons Ventures, Summa Equity, and AP Ventures, with participation from the National Wealth Fund and the Scottish National Investment Bank.

With additional investment secured, ZeroAvia has extended its cash runway for the next two years and will continue to fully industrialize its hydrogen power and propulsion technology for the aviation and defense markets.

The company is already supplying its SuperStack Flex modular fuel cell power generation system to the defense sector, and there is increasing interest in the systems for unmanned aerial vehicles. The dual-use potential is strong: ZeroAvia is also in active customer discussions with eVTOL and fixed-wing commercial players in relation to deploying the compact, lightweight, flexible systems.

The SuperStack Flex can enable both electric propulsion and enhanced on-board electrical power generation with greater power density than battery systems. It unlocks all of the benefits of electrical operation – lower thermal and noise signatures, reduced maintenance costs, enhanced reliability and zero-emissions – and with significantly enhanced endurance. With Design Organisation Approval granted by the UK CAA in November, ZeroAvia is well positioned to deliver the first fuel cell systems for aviation with regulatory approvals.

As well as a standalone power generation system with a wide variety of defense and civil applications, the SuperStack Flex is a core module of ZeroAvia’s first planned full hydrogen-electric powertrain, ZA600, designed for 10-20 seat commercial aircraft. With a prototype extensively flight tested, hundreds of engine orders in place with airline customers (including a launch customer), and funding in place to support the entry-in-service of 15 aircraft in Norway, ZeroAvia’s focus is now on pushing towards its first certification to support these opportunities.  

Val Miftakhov, Founder and CEO, ZeroAvia, said: “The support shown in this investment to power the next phase for the company is a great vote of confidence in the company’s technology and roadmap. With this latest financing we are able to progress at pace on the most immediate market opportunities – such as the SuperStack Flex – which will enable us to derisk later stages of our roadmap.”

For more information on the SuperStack Flex, download the brochure or get in touch with the team. 

About ZeroAvia
ZeroAvia is leading the transition to a clean future of flight by developing hydrogen-electric propulsion technologies for aviation and defense to unlock lower costs and emissions, lower detectability, cleaner air, reduced noise, energy independence and increased connectivity. The company is developing hydrogen-electric (fuel cell-powered) engines for existing commercial aircraft segments and also supplying hydrogen and electric propulsion component technologies for novel electric air transport applications (including battery, hybrid and fuel cell powered electric fixed-wing aircraft, novel eVTOL designs, rotorcraft and Unmanned Aerial Vehicles). ZeroAvia has submitted its first full engine for up to 20-seat planes for certification and is working on a larger powertrain for 40–80-seat aircraft, with significant flight test and regulatory milestones achieved with the U.S. FAA and UK CAA.  

For more, please visit ZeroAvia.com, follow @ZeroAvia on Facebook, Twitter/X, Instagram, LinkedIn, and YouTube. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/zeroavia-completes-financing-round-302647626.html

SOURCE ZeroAvia

• This FX Super One roll off represents the FF Global Auto Industry Bridge Strategy has reached its initial Bridge Closure in the U.S. In the Middle East, deliveries began in late November, and on December 22, FX will deliver a FX Super One to RAK Innovation city.
• The Company’s Global Automotive Industry Bridge Strategy is upgrading to the Global Embodied AI (EAI) Industry Bridge Strategy.
• During the CES event in Las Vegas on January 7, FF and FX will host an FF Stockholders’ Day, where there will be a Bridge Strategy update and private preview event for its products.

LOS ANGELES, Dec. 21, 2025 /PRNewswire/ — Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that it has rolled off the first FX Super One MPV pre-production vehicle at the Company’s Hanford, CA factory, named “FF AI-Factory California.” This pre-production vehicle milestone was celebrated at the factory with the FF and FX leadership teams along with its Los Angeles HQ employees. During the CES event in Las Vegas on January 7, the Company will host a Bridge Strategy upgrade and preview event for its products.

Full video of the event: https://g.ff.com/SuperOneOffTheLine 

During the January 7 event, alongside the Bridge Strategy upgrade and preview, the Company will also host an FF Stockholders Day, where FF will discuss the mass production, sales, delivery, service, and ramp-up roadmap for the Super One — as well as the execution plan for the business plan announced before.

During CES, FF will host a series of Super One co-creation and experience events, officially kicking off its nationwide co-creation sales campaign for 2026. In the first quarter, FF plans to unveil the product strategy for FX’s second planned model, FX 4, further advancing its vision of building “An AIEV for Everyone.”

The FX Super One MPV became the second model to be rolled off the FF AI-Factory following the FF 91, which began production there in 2023, and marks the first mass-market high-volume model. This line-off carries six major values and strategic significances:

First, it comprehensively validates the Company’s capabilities in localized product development, assembly processes, and testing and validation. It lays a solid foundation for upcoming homologation, user experience testing, and deliveries.

Second, FX will now enter the phase of real user experience, co-creation, and sales validation. The confidence of the FX Par partners across the U.S. has been further strengthened, and this also represents the first concrete response to all users who have placed their pre-orders.

Third, the Global Auto Industry Bridge Strategy has achieved a closed loop, establishing a replicable and scalable rapid mass-production system for future FX models.

Fourth, as the disruptor in the EAI era, the FX Super One will fundamentally change the long-standing lack of product diversity in high-end business and family mobility in the U.S. market — where consumers have had little choice — and will drive a meaningful consumption upgrade.

Fifth, it fills a structural gap and blue-ocean opportunity in the U.S. market, and supports manufacturing reshoring of the country.

Sixth, it lays a solid foundation for on-chain ownership confirmation of EAI EV assets and the launch of EAI + RWA products, accelerating the convergence of EAI with Crypto, and Web2 with Web3.

“As a “new species” that pioneered the era of Automotive Embodied AI, the successful roll-off of the first FX Super One marks a critical initial step before mass production and delivery, and the achievement of our top KPI for year 2025. For FF, FX, and even the broader US automotive industry, this is a moment worth remembering. Congratulations to everyone who has played a part in this achievement,” said YT Jia, Founder & Global Co-CEO of FF. “Today’s rollout gives us a strong start heading into the new year. Looking ahead to 2026, we have defined clear goals and execution plans, and we are fully committed living up to the statement ‘promises made, promises kept.’ Please stay tuned for more news from us coming out of CES in January.”

The FX Super One is a premium mass market MPV. It offers a spacious, meticulously crafted interior with high-end materials and advanced technology. The FX Super One prioritizes passenger comfort with a host of features including multiple rows, spacious seating, ambient lighting, and premium entertainment systems, to name a few. The Super One is planned to be available with AWD and two powertrain options: battery electric and, at a later date, an AI hybrid extended range (AIHER) configuration.

Quality is at the core of everything the Company does, and along with the first pre-production Super Ones coming off-the-line, the Company will implement strict production processes and quality requirements. The Company will constantly produce new vehicles starting today and following industry best practices and continuously improve and optimize product quality to lay a solid foundation for increasing production capacity, improving efficiency, and enhancing quality in subsequent stages of production.

Faraday Future’s current 1.1 million-square-foot manufacturing and production facility in Hanford, California, named “FF AI-Factory California,” has approximately $300 million invested so far in the multi-use facility, and with additional investment and permitting, could become capable of producing more than 30,000 FX vehicles annually. The Company’s FF 91 2.0 flagship EV is currently built in this facility. The Hanford factory is preparing a flexible production line for future FX units. The facility could support mixed-line manufacturing or assembly for multiple models.

ABOUT FARADAY FUTURE 

Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company’s mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future’s flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit https://www.ff.com/ 

FORWARD LOOKING STATEMENTS 

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “plan to,” “can,” “will,” “should,” “future,” “potential,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the FX Super One and related production, delivery timing and production volumes, possible Super One powertrains, a possible FX 4 model, and the launch of EAI + RWA products, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to maintain its listing on Nasdaq; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the Board’s approval of various production and sales plans and proposals, which the Company may fail to obtain; the Company’s ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary agreements from OEMs to be able to engineer FX vehicles for the U.S. market; the Company’s ability to secure agreements necessary to produce the FX 4, which it currently lacks; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure an occupancy certificate for its Hanford facility; the Company’s relative lack of experience in the Web 3 and crypto areas; the Company’s ability to increase production capacity at its Hanford facility, which would be costly; the Company’s ability to develop an AIHER powertrain; the Company’s ability to obtain any necessary approvals to equip the Super One with the Super EAI F.A.C.E. system; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company’s ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company’s control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company’s operations in China; the success of the Company’s remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC. 

CONTACTS:
Investor Relations (English): steven.park@ff.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/faraday-future-and-faraday-x-announce-that-the-first-fx-super-one-pre-production-vehicle-has-successfully-rolled-off-the-line-at-its-ff-ai-factory-in-california-302647713.html

SOURCE Faraday Future; Faraday X

• This FX Super One roll off represents the FF Global Auto Industry Bridge Strategy has reached its initial Bridge Closure in the U.S. In the Middle East, deliveries began in late November, and on December 22, FX will deliver a FX Super One to RAK Innovation city.
• The Company’s Global Automotive Industry Bridge Strategy is upgrading to the Global Embodied AI (EAI) Industry Bridge Strategy.
• During the CES event in Las Vegas on January 7, FF and FX will host an FF Stockholders’ Day, where there will be a Bridge Strategy update and private preview event for its products.

LOS ANGELES, Dec. 21, 2025 /PRNewswire/ — Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that it has rolled off the first FX Super One MPV pre-production vehicle at the Company’s Hanford, CA factory, named “FF AI-Factory California.” This pre-production vehicle milestone was celebrated at the factory with the FF and FX leadership teams along with its Los Angeles HQ employees. During the CES event in Las Vegas on January 7, the Company will host a Bridge Strategy upgrade and preview event for its products.

Full video of the event: https://g.ff.com/SuperOneOffTheLine 

During the January 7 event, alongside the Bridge Strategy upgrade and preview, the Company will also host an FF Stockholders Day, where FF will discuss the mass production, sales, delivery, service, and ramp-up roadmap for the Super One — as well as the execution plan for the business plan announced before.

During CES, FF will host a series of Super One co-creation and experience events, officially kicking off its nationwide co-creation sales campaign for 2026. In the first quarter, FF plans to unveil the product strategy for FX’s second planned model, FX 4, further advancing its vision of building “An AIEV for Everyone.”

The FX Super One MPV became the second model to be rolled off the FF AI-Factory following the FF 91, which began production there in 2023, and marks the first mass-market high-volume model. This line-off carries six major values and strategic significances:

First, it comprehensively validates the Company’s capabilities in localized product development, assembly processes, and testing and validation. It lays a solid foundation for upcoming homologation, user experience testing, and deliveries.

Second, FX will now enter the phase of real user experience, co-creation, and sales validation. The confidence of the FX Par partners across the U.S. has been further strengthened, and this also represents the first concrete response to all users who have placed their pre-orders.

Third, the Global Auto Industry Bridge Strategy has achieved a closed loop, establishing a replicable and scalable rapid mass-production system for future FX models.

Fourth, as the disruptor in the EAI era, the FX Super One will fundamentally change the long-standing lack of product diversity in high-end business and family mobility in the U.S. market — where consumers have had little choice — and will drive a meaningful consumption upgrade.

Fifth, it fills a structural gap and blue-ocean opportunity in the U.S. market, and supports manufacturing reshoring of the country.

Sixth, it lays a solid foundation for on-chain ownership confirmation of EAI EV assets and the launch of EAI + RWA products, accelerating the convergence of EAI with Crypto, and Web2 with Web3.

“As a “new species” that pioneered the era of Automotive Embodied AI, the successful roll-off of the first FX Super One marks a critical initial step before mass production and delivery, and the achievement of our top KPI for year 2025. For FF, FX, and even the broader US automotive industry, this is a moment worth remembering. Congratulations to everyone who has played a part in this achievement,” said YT Jia, Founder & Global Co-CEO of FF. “Today’s rollout gives us a strong start heading into the new year. Looking ahead to 2026, we have defined clear goals and execution plans, and we are fully committed living up to the statement ‘promises made, promises kept.’ Please stay tuned for more news from us coming out of CES in January.”

The FX Super One is a premium mass market MPV. It offers a spacious, meticulously crafted interior with high-end materials and advanced technology. The FX Super One prioritizes passenger comfort with a host of features including multiple rows, spacious seating, ambient lighting, and premium entertainment systems, to name a few. The Super One is planned to be available with AWD and two powertrain options: battery electric and, at a later date, an AI hybrid extended range (AIHER) configuration.

Quality is at the core of everything the Company does, and along with the first pre-production Super Ones coming off-the-line, the Company will implement strict production processes and quality requirements. The Company will constantly produce new vehicles starting today and following industry best practices and continuously improve and optimize product quality to lay a solid foundation for increasing production capacity, improving efficiency, and enhancing quality in subsequent stages of production.

Faraday Future’s current 1.1 million-square-foot manufacturing and production facility in Hanford, California, named “FF AI-Factory California,” has approximately $300 million invested so far in the multi-use facility, and with additional investment and permitting, could become capable of producing more than 30,000 FX vehicles annually. The Company’s FF 91 2.0 flagship EV is currently built in this facility. The Hanford factory is preparing a flexible production line for future FX units. The facility could support mixed-line manufacturing or assembly for multiple models.

ABOUT FARADAY FUTURE 

Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company’s mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future’s flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit https://www.ff.com/ 

FORWARD LOOKING STATEMENTS 

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “plan to,” “can,” “will,” “should,” “future,” “potential,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the FX Super One and related production, delivery timing and production volumes, possible Super One powertrains, a possible FX 4 model, and the launch of EAI + RWA products, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to maintain its listing on Nasdaq; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the Board’s approval of various production and sales plans and proposals, which the Company may fail to obtain; the Company’s ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary agreements from OEMs to be able to engineer FX vehicles for the U.S. market; the Company’s ability to secure agreements necessary to produce the FX 4, which it currently lacks; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure an occupancy certificate for its Hanford facility; the Company’s relative lack of experience in the Web 3 and crypto areas; the Company’s ability to increase production capacity at its Hanford facility, which would be costly; the Company’s ability to develop an AIHER powertrain; the Company’s ability to obtain any necessary approvals to equip the Super One with the Super EAI F.A.C.E. system; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company’s ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company’s control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company’s operations in China; the success of the Company’s remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC. 

CONTACTS:
Investor Relations (English): steven.park@ff.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/faraday-future-and-faraday-x-announce-that-the-first-fx-super-one-pre-production-vehicle-has-successfully-rolled-off-the-line-at-its-ff-ai-factory-in-california-302647713.html

SOURCE Faraday Future; Faraday X

• This FX Super One roll off represents the FF Global Auto Industry Bridge Strategy has reached its initial Bridge Closure in the U.S. In the Middle East, deliveries began in late November, and on December 22, FX will deliver a FX Super One to RAK Innovation city.
• The Company’s Global Automotive Industry Bridge Strategy is upgrading to the Global Embodied AI (EAI) Industry Bridge Strategy.
• During the CES event in Las Vegas on January 7, FF and FX will host an FF Stockholders’ Day, where there will be a Bridge Strategy update and private preview event for its products.

LOS ANGELES, Dec. 21, 2025 /PRNewswire/ — Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that it has rolled off the first FX Super One MPV pre-production vehicle at the Company’s Hanford, CA factory, named “FF AI-Factory California.” This pre-production vehicle milestone was celebrated at the factory with the FF and FX leadership teams along with its Los Angeles HQ employees. During the CES event in Las Vegas on January 7, the Company will host a Bridge Strategy upgrade and preview event for its products.

Full video of the event: https://g.ff.com/SuperOneOffTheLine 

During the January 7 event, alongside the Bridge Strategy upgrade and preview, the Company will also host an FF Stockholders Day, where FF will discuss the mass production, sales, delivery, service, and ramp-up roadmap for the Super One — as well as the execution plan for the business plan announced before.

During CES, FF will host a series of Super One co-creation and experience events, officially kicking off its nationwide co-creation sales campaign for 2026. In the first quarter, FF plans to unveil the product strategy for FX’s second planned model, FX 4, further advancing its vision of building “An AIEV for Everyone.”

The FX Super One MPV became the second model to be rolled off the FF AI-Factory following the FF 91, which began production there in 2023, and marks the first mass-market high-volume model. This line-off carries six major values and strategic significances:

First, it comprehensively validates the Company’s capabilities in localized product development, assembly processes, and testing and validation. It lays a solid foundation for upcoming homologation, user experience testing, and deliveries.

Second, FX will now enter the phase of real user experience, co-creation, and sales validation. The confidence of the FX Par partners across the U.S. has been further strengthened, and this also represents the first concrete response to all users who have placed their pre-orders.

Third, the Global Auto Industry Bridge Strategy has achieved a closed loop, establishing a replicable and scalable rapid mass-production system for future FX models.

Fourth, as the disruptor in the EAI era, the FX Super One will fundamentally change the long-standing lack of product diversity in high-end business and family mobility in the U.S. market — where consumers have had little choice — and will drive a meaningful consumption upgrade.

Fifth, it fills a structural gap and blue-ocean opportunity in the U.S. market, and supports manufacturing reshoring of the country.

Sixth, it lays a solid foundation for on-chain ownership confirmation of EAI EV assets and the launch of EAI + RWA products, accelerating the convergence of EAI with Crypto, and Web2 with Web3.

“As a “new species” that pioneered the era of Automotive Embodied AI, the successful roll-off of the first FX Super One marks a critical initial step before mass production and delivery, and the achievement of our top KPI for year 2025. For FF, FX, and even the broader US automotive industry, this is a moment worth remembering. Congratulations to everyone who has played a part in this achievement,” said YT Jia, Founder & Global Co-CEO of FF. “Today’s rollout gives us a strong start heading into the new year. Looking ahead to 2026, we have defined clear goals and execution plans, and we are fully committed living up to the statement ‘promises made, promises kept.’ Please stay tuned for more news from us coming out of CES in January.”

The FX Super One is a premium mass market MPV. It offers a spacious, meticulously crafted interior with high-end materials and advanced technology. The FX Super One prioritizes passenger comfort with a host of features including multiple rows, spacious seating, ambient lighting, and premium entertainment systems, to name a few. The Super One is planned to be available with AWD and two powertrain options: battery electric and, at a later date, an AI hybrid extended range (AIHER) configuration.

Quality is at the core of everything the Company does, and along with the first pre-production Super Ones coming off-the-line, the Company will implement strict production processes and quality requirements. The Company will constantly produce new vehicles starting today and following industry best practices and continuously improve and optimize product quality to lay a solid foundation for increasing production capacity, improving efficiency, and enhancing quality in subsequent stages of production.

Faraday Future’s current 1.1 million-square-foot manufacturing and production facility in Hanford, California, named “FF AI-Factory California,” has approximately $300 million invested so far in the multi-use facility, and with additional investment and permitting, could become capable of producing more than 30,000 FX vehicles annually. The Company’s FF 91 2.0 flagship EV is currently built in this facility. The Hanford factory is preparing a flexible production line for future FX units. The facility could support mixed-line manufacturing or assembly for multiple models.

ABOUT FARADAY FUTURE 

Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company’s mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future’s flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit https://www.ff.com/ 

FORWARD LOOKING STATEMENTS 

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “plan to,” “can,” “will,” “should,” “future,” “potential,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the FX Super One and related production, delivery timing and production volumes, possible Super One powertrains, a possible FX 4 model, and the launch of EAI + RWA products, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to maintain its listing on Nasdaq; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the Board’s approval of various production and sales plans and proposals, which the Company may fail to obtain; the Company’s ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary agreements from OEMs to be able to engineer FX vehicles for the U.S. market; the Company’s ability to secure agreements necessary to produce the FX 4, which it currently lacks; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure an occupancy certificate for its Hanford facility; the Company’s relative lack of experience in the Web 3 and crypto areas; the Company’s ability to increase production capacity at its Hanford facility, which would be costly; the Company’s ability to develop an AIHER powertrain; the Company’s ability to obtain any necessary approvals to equip the Super One with the Super EAI F.A.C.E. system; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company’s ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company’s control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company’s operations in China; the success of the Company’s remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC. 

CONTACTS:
Investor Relations (English): steven.park@ff.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com

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SOURCE Faraday Future; Faraday X

HONG KONG, Dec. 21, 2025 /PRNewswire/ — On 19 December 2025, the TVB ESG Awards 2025 Presentation Ceremony, hosted by Television Broadcasts Limited (“TVB”), was held at the Hong Kong Convention and Exhibition Center. Fosun International was honored with the highest accolade, the “Outstanding ESG Award”, as well as awards for “Best in ESG Practices” and “Best in ESG Report”.

Mr. Wong Wai Lun, Michael, GBS, JP, Deputy Financial Secretary of the Government of the Hong Kong Special Administrative Region (SAR), Mr. Siu Sai Wo, General Manager (Business Operations) of TVB and Dr. Lawrence Cheung Chi-chong, Chief Technology Officer of Hong Kong Productivity Council served as officiating guests at the awards ceremony and jointly presented the “Outstanding ESG Award” to Fosun International.

TVB pointed out that Fosun International’s recognition with the “Outstanding ESG Award”, “Best in ESG Practices” and “Best in ESG Report” is well-deserved. After more than 30 years of development, Fosun has developed into a large global company with operations spanning healthcare, tourism, consumption, and insurance. With a robust global industrial ecosystem, Fosun operates responsibly in over 40 countries and regions, actively contributing to public welfare and creating sustainable value worldwide.

TVB highlighted that the awards recognize Fosun International’s outstanding performance in environmental, social, and governance (ESG) and sustainability, while affirming its excellent achievements in ESG over the past year. Each award is presented to the top three scorers in their respective categories, with organizations excelling in both “ESG Practices” and “ESG Report” eligible for the highest accolade, the “Outstanding ESG Award”.

In addition to Fosun International, other recipients of TVB’s highest accolade, the “Outstanding ESG Award”, are all organizations that have demonstrated excellence in ESG. These include government statutory bodies, major public utilities, and well-known companies such as the Airport Authority Hong Kong, MTR Corporation, Schneider Electric, China State Construction Development Holdings Limited, and Riskory Consultancy Limited.

Ms. Angel Sze, Company Secretary and Head of ESG Management Committee of Fosun International, accepted the “Outstanding ESG Award” on behalf of the company and subsequently joined representatives from other award-winning organizations in a panel discussion to share Fosun International’s ESG practices and achievements.

Driven by innovation, committed to social contribution

During the discussion, Angel Sze remarked, “Fosun remains committed to innovation-driven development and globalization. Since its establishment, Fosun has stayed true to its original aspiration of ‘Contribution to Society’, striving to create positive societal impact through its operations. Taking our Health segment as an example, we target original innovation to address unmet clinical needs. By continuously strengthening our independent R&D and innovation capabilities, we strive to deliver higher-quality, more accessible, and more affordable medicines and services to patients.”

Fosun adheres to an innovation-driven strategy, and the anticancer drugs developed by its Health segment have widely benefited cancer patients. Among them, HANSIZHUANG, an innovative anti-PD-1 monoclonal antibody independently developed by Fosun, is the world’s first anti-PD-1 monoclonal antibody approved for the first-line treatment of small cell lung cancer (SCLC). To date, it has been approved for marketing in nearly 40 countries and regions, including China, the European Union, the United Kingdom, Singapore, and India.

Since the beginning of this year, Fosun has achieved multiple breakthroughs in the field of innovative drugs. HLX43, a PD-L1-targeting antibody-drug conjugate (ADC), is undergoing clinical studies for solid tumors such as non-small cell lung cancer and thymic carcinoma in countries including China, the United States, and Australia. Currently, no PD-L1 ADC has been approved globally, positioning HLX43 as a potential highly effective and safe broad-spectrum anticancer drug.

On 7 December, the National Healthcare Security Administration (NHSA) and the Ministry of Human Resources and Social Security (MOHRSS) released the 2025 national medical insurance drug list, which includes multiple marketed products from Fosun Pharma. Moreover, the highly anticipated inaugural edition of the commercial insurance innovative drug list was unveiled, featuring Fosun Pharma’s CAR-T cell therapy Yi Kai Da (ejilunsai injection). The successful inclusion of innovative drugs underscores national support for pharmaceutical innovation and paves the way for market promotion and patient access.

Fosun’s innovation capabilities have also received high recognition from global pharmaceutical companies. On 9 December, Fosun Pharma announced that its subsidiary had entered into a license agreement with Pfizer, granting Pfizer exclusive worldwide license for the development, use, manufacturing, and commercialization of oral small-molecule glucagon-like peptide-1 receptor (GLP-1R) agonists, including YP05002, and any products containing such oral small molecule GLP-1R agonists as an active ingredient.

At the same time, Fosun actively integrates global resources to accelerate the introduction of cutting-edge medical technologies in China, enhancing the accessibility and affordability of medical technologies. By the end of September 2025, over 480 Da Vinci surgical systems had been installed in more than 370 hospitals across the Chinese mainland, Hong Kong SAR, and Macau SAR, collectively serving over 810,000 patients.

Centering on “Health” as a global public issue, Fosun launched the Rural Doctors Program in 2017. Since its launch, the Program has supported 25,000 rural doctors and benefited 3 million rural families. It was honored as one of the United Nations Global Compact’s “20 Cases of Private Sector’s Sustainable Development in China for 20 Years”, earning international recognition as a model for empowering rural healthcare.

Actively responding to climate change and attaching great importance to biodiversity conservation

With climate change being one of the most severe long-term risks, Fosun recognizes the importance of global cooperation to tackle this challenge. Fosun remains committed to advancing China’s “dual carbon” goals by promoting carbon neutrality and energy conservation and emission reduction. In 2021, Fosun made a commitment to society – “strive to peak carbon emissions by 2028 and achieve carbon neutrality by 2050”. Fosun has formulated strategies for climate change mitigation and adaptation to align with the 1.5°C temperature control target set in the Paris Agreement.

The Group also actively encourages its member companies to carry out climate actions. In 2024, the Bund Finance Center (BFC), the Group’s main office location in Shanghai and a landmark in Shanghai, was successfully included in Shanghai’s first batch of carbon peaking and carbon neutrality pilot demonstration projects, becoming the only large-scale commercial complex exceeding 200,000 square meters on the list.

In 2024, Fidelidade, Fosun’s insurance company in Portugal, established the Impact Center For Climate Change (ICCC), a knowledge center dedicated to climate change research. Through collaborations with external entities, including universities, research centers, and public institutions, it provides scientific insights on the impacts of climate change on society, particularly in the insurance industry.

In addition to actively addressing climate change, Fosun also places great importance on biodiversity conservation. Since 2018, the Lost Chambers Aquarium at Atlantis Sanya, a subsidiary of Fosun Tourism Group (FTG), has been dedicated to rescuing and rehabilitating sea turtles in Hainan Province and its surrounding waters. As of 2024, the aquarium had rescued 24 sea turtles and held 6 sea turtle release events since its opening, returning 10 rehabilitated turtles to the ocean.

On 28 November, FTG hosted “Fosun Holiday Horizon 2026” at Atlantis Sanya, where it signed a partnership agreement with the Nanjing Institute of Environmental Sciences (NIES) of the Ministry of Ecology and Environment (MEE). The two parties will incorporate biodiversity conservation and habitat creation into Club Med resorts, jointly developing China’s first “biodiversity resort” centered on the concept of “harmonious coexistence between humans and nature”.

Empowering a sustainable future through globalization and innovation

Looking ahead, Fosun will remain focused on its core businesses, step up innovation efforts, and firmly advance its globalization strategy, creating greater value for shareholders, employees and society. At the same time, Fosun will continue to closely follow global sustainability trends, continuously refine its ESG management, actively respond to national strategies, ensure information security, promote technology innovation, implement “dual carbon” goals, participate in public welfare undertakings, and protect employees’ rights and interests. Leveraging the resources and advantages of its global industrial ecosystem, Fosun endeavors to make a greater impact on sustainable development and continuously contribute to a better world.

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SOURCE Fosun

Landmark Project Across Four Governorates to Boost Power Plant Output by 50%, Easing Chronic Electricity Shortages

SHANGHAI, Dec. 19, 2025 /PRNewswire/ — Shanghai Electric has broken ground on the Euphrates Combined Cycle Expansion Project in Iraq. As the project’s contractor, Shanghai Electric is upgrading power plants across four Iraqi governorates by transforming simple-cycle units into combined-cycle systems. The expansion will add a total capacity of 625 megawatts (MW) and is designed to boost overall plant efficiency by approximately 50%, generating an additional 5 billion kilowatt-hprojours (kWh) of electricity annually without increasing fuel consumption. This initiative is poised to significantly alleviate the country’s persistent electricity shortages.

“The pressing need for energy security and development in Iraq is clear. We are honored that our efficient combined-cycle technology is recognized as instrumental in modernizing this critical infrastructure,” said a spokesperson for Shanghai Electric. “This project exemplifies our commitment to supporting the energy security and green development of Belt and Road countries through technological innovation.”

Iraq, a major Middle Eastern oil producer, has faced severe power shortages for over three decades. Most of its power plants rely on natural gas, yet domestic gas development lags, creating a heavy dependence on imports. This power deficit has become a persistent challenge to people’s livelihoods and a bottleneck for national reconstruction and economic growth.

The Shanghai Electric-contracted expansion project along the Euphrates River broke ground early this year and covers the Iraqi governorates of Najaf, Karbala, Babylon, and Al-Qadisiyyah, with all upgrades centered on advanced combined-cycle technology. Core equipment has now arrived on site, and construction is advancing through the collaboration of Chinese and Iraqi teams. Since its commencement, the project has drawn considerable attention from the Iraqi government and public.

Iraqi Minister of Electricity Ziad Ali Fadel has praised the project’s strategic importance, stating, “This initiative is highly significant for improving Iraq’s power supply and optimizing its electricity infrastructure. Once operational, it will effectively reduce Iraq’s reliance on imported natural gas and lower its fuel costs for power generation.”

At the power plant in Najaf, the upgrade utilizes high-temperature exhaust from existing gas turbines as a heat source. The exhaust is directed through heat recovery steam generators to produce high-pressure steam, which then drives a new steam turbine to create additional electricity. This combined-cycle process increases output and efficiency without extra fuel and reduces the thermal pollution from the original units.

Naseem Ayad, the Iraqi project manager at the Najaf site, said, “Chinese equipment and power technology help us reuse high-temperature exhaust, boosting generation capacity while reducing thermal pollution. This project sets a benchmark for power plant upgrades in Iraq and reflects local hopes for more reliable electricity and better living conditions.”

At the Karbala site, core equipment such as heat recovery steam generators and direct air-cooled condensers have been delivered. This project phase marks one of Iraq’s first combined-cycle expansions to fully utilize Chinese equipment and standards, with core systems designed and manufactured in China. This will effectively drive the overseas deployment of Chinese equipment and enhance the recognition of Chinese standards in Iraq.

Upon completion, the project is expected to improve local livelihoods, support post-war reconstruction, and lay a robust energy foundation for Iraq’s industrial recovery and economic growth.

Shanghai Electric remains dedicated to supporting sustainable development in Belt and Road regions and worldwide through advanced, efficient, and eco-friendly energy technologies.

For more information, please visit https://www.shanghai-electric.com/group_en/.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/shanghai-electric-powers-up-iraqs-energy-future-with-major-625mw-efficiency-upgrade-302647425.html

SOURCE Shanghai Electric

Landmark Project Across Four Governorates to Boost Power Plant Output by 50%, Easing Chronic Electricity Shortages

SHANGHAI, Dec. 19, 2025 /PRNewswire/ — Shanghai Electric has broken ground on the Euphrates Combined Cycle Expansion Project in Iraq. As the project’s contractor, Shanghai Electric is upgrading power plants across four Iraqi governorates by transforming simple-cycle units into combined-cycle systems. The expansion will add a total capacity of 625 megawatts (MW) and is designed to boost overall plant efficiency by approximately 50%, generating an additional 5 billion kilowatt-hprojours (kWh) of electricity annually without increasing fuel consumption. This initiative is poised to significantly alleviate the country’s persistent electricity shortages.

“The pressing need for energy security and development in Iraq is clear. We are honored that our efficient combined-cycle technology is recognized as instrumental in modernizing this critical infrastructure,” said a spokesperson for Shanghai Electric. “This project exemplifies our commitment to supporting the energy security and green development of Belt and Road countries through technological innovation.”

Iraq, a major Middle Eastern oil producer, has faced severe power shortages for over three decades. Most of its power plants rely on natural gas, yet domestic gas development lags, creating a heavy dependence on imports. This power deficit has become a persistent challenge to people’s livelihoods and a bottleneck for national reconstruction and economic growth.

The Shanghai Electric-contracted expansion project along the Euphrates River broke ground early this year and covers the Iraqi governorates of Najaf, Karbala, Babylon, and Al-Qadisiyyah, with all upgrades centered on advanced combined-cycle technology. Core equipment has now arrived on site, and construction is advancing through the collaboration of Chinese and Iraqi teams. Since its commencement, the project has drawn considerable attention from the Iraqi government and public.

Iraqi Minister of Electricity Ziad Ali Fadel has praised the project’s strategic importance, stating, “This initiative is highly significant for improving Iraq’s power supply and optimizing its electricity infrastructure. Once operational, it will effectively reduce Iraq’s reliance on imported natural gas and lower its fuel costs for power generation.”

At the power plant in Najaf, the upgrade utilizes high-temperature exhaust from existing gas turbines as a heat source. The exhaust is directed through heat recovery steam generators to produce high-pressure steam, which then drives a new steam turbine to create additional electricity. This combined-cycle process increases output and efficiency without extra fuel and reduces the thermal pollution from the original units.

Naseem Ayad, the Iraqi project manager at the Najaf site, said, “Chinese equipment and power technology help us reuse high-temperature exhaust, boosting generation capacity while reducing thermal pollution. This project sets a benchmark for power plant upgrades in Iraq and reflects local hopes for more reliable electricity and better living conditions.”

At the Karbala site, core equipment such as heat recovery steam generators and direct air-cooled condensers have been delivered. This project phase marks one of Iraq’s first combined-cycle expansions to fully utilize Chinese equipment and standards, with core systems designed and manufactured in China. This will effectively drive the overseas deployment of Chinese equipment and enhance the recognition of Chinese standards in Iraq.

Upon completion, the project is expected to improve local livelihoods, support post-war reconstruction, and lay a robust energy foundation for Iraq’s industrial recovery and economic growth.

Shanghai Electric remains dedicated to supporting sustainable development in Belt and Road regions and worldwide through advanced, efficient, and eco-friendly energy technologies.

For more information, please visit https://www.shanghai-electric.com/group_en/.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/shanghai-electric-powers-up-iraqs-energy-future-with-major-625mw-efficiency-upgrade-302647425.html

SOURCE Shanghai Electric