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DELRAY BEACH, Fla., Aug. 18, 2025 /PRNewswire/ — The global Large Scale Natural Refrigerant Heat Pump Market is anticipated to grow from estimated USD 7.28 billion in 2025 to USD 14.90 billion by 2030, at a CAGR of 15.4% during the forecast period. Large scale natural refrigerant heat pumps, particularly those using natural refrigerants, deliver superior performance through a high COP, enabling them to produce significantly more thermal energy per unit of electricity consumed than conventional heating systems. Their ability to extract and upgrade low-grade heat from ambient sources or industrial waste streams makes them an ideal technology for meeting stringent energy efficiency standards while contributing to long-term sustainability and cost optimization.

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By capacity, 20–200 kW segment is expected to dominate the market during the forecast period.

The 20–200 kW capacity segment is increasingly in demand across a wide range of medium-sized commercial and institutional buildings, including hotels, educational facilities, healthcare centers, office buildings, and multi-unit residential complexes. These facilities require consistent, efficient, scalable heating and cooling solutions that adapt to varying load demands. Natural refrigerant heat pumps—using CO2, propane, or ammonia—are ideally suited for this segment, offering high energy efficiency, low environmental impact, and compliance with evolving building codes and climate policies. Their compact design, quiet operation, and ability to deliver heating and cooling make them particularly attractive for urban installations and retrofits.

By refrigerant, the Ammonia (R-717) segment is projected to be the second largest segment during the forecast period.

The Ammonia (R-717) segment is growing consistently as the global regulatory landscape is rapidly evolving to curb the use of high-GWP (Global Warming Potential) refrigerants, significantly influencing the market demand. Landmark policies—such as the EU’s F-Gas Regulation, the US AIM Act, and Canada’s HFC reduction plan—are mandating a phasedown of synthetic refrigerants with high climate impact. In response, commercial building owners are proactively transitioning to natural refrigerants like ammonia (R717). These substances offer ultra-low or zero GWP, regulatory compliance, and long-term viability. By adopting natural refrigerant heat pumps, commercial facilities can meet current and upcoming environmental mandates and enhance sustainability credentials, reduce operational risk, and ensure future readiness in a carbon-constrained economy.

By region, the Asia Pacific segment is anticipated to hold the largest market share during the forecast period.

Across the Asia Pacific region, there is a notable shift in both public perception and corporate responsibility regarding environmental sustainability. Heightened awareness of climate change, air quality, and resource efficiency influences consumer preferences and stakeholder expectations. At the same time, businesses are increasingly aligning with global ESG (Environmental, Social, and Governance) standards, integrating sustainability into their operations and value chains. This growing emphasis on climate-conscious practices fuels demand for clean, low-carbon technologies—such as large scale natural refrigerant heat pumps—which offer long-term environmental benefits, regulatory compliance, and reputational value. As a result, these systems are viewed not just as technical upgrades, but as strategic investments in corporate climate resilience and public trust.

Key Market Players

Some of the major players in the Large Scale Natural Refrigerant Heat Pump Market are Johnson Controls (US), Siemens Energy (Germany), GEA Group Aktiengesellschaft (Germany), Mitsubishi Electric Corporation (Japan), and Panasonic Holdings Corporation (Japan). The major strategies adopted by these players include acquisitions, product launches, agreements, partnerships, and expansions.

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Siemens Energy (Germany) 

Siemens Energy (Germany) is in the energy business, specializing in industrial applications, generation, transmission, and renewables. The company operates its business through four segments: Gas Services, Grid Technologies, Transformation of Industry, and Siemens Gamesa. The company produces and distributes large scale natural refrigerant heat pumps through the Gas Services segment.

The Gas Services segment offers solutions related to gas and steam turbines, large generators, heat pumps, and control technology. It serves a broad range of customers, like utilities, industrial clients, oil and gas companies, and data centers. The division supports clean energy goals by enabling turbines to use hydrogen and other low-emission fuels. In recent years, Siemens Energy has made several strategic decisions, such as agreements and contracts, to position itself for growth in the Large Scale Natural Refrigerant Heat Pump Market. For example, in October 2023, Siemens Energy received a contract from MVV GmbH to supply and integrate a 20 MWth river-source heat pump into Mannheim’s district heating network. The system uses Rhine River water and renewable electricity to deliver heat up to 99°C, serving around 3,500 households and reducing ~10,000 tons of CO2 annually. Siemens Energy operates in more than 90 countries and has its geographic presence in regions like Europe, the Middle East, C.I.S, Africa, the Americas, Asia, and Australia.

Johnson Controls (Ireland) 

Johnson Controls (Ireland) is a globally diversified company specializing in engineering, manufacturing operations, sales, building automation, fire & hazard protection, industrial refrigeration, HVAC, security, and sustainability. The company operates through four business segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products. The company provides deeper insights into building health, sustainability, and performance using AI and data-driven solutions. In recent years, Johnson Controls has made several strategic decisions, such as expanding to position itself for growth in the Large Scale Natural Refrigerant Heat Pump Market. For example, in Mar 2024, Johnson Controls expanded its heat pump and chiller facility in Nantes, France, doubling its production space. The upgraded site, now fully operational, is the company’s primary manufacturing hub in Europe for York-branded “extra-large” heat pumps and chillers. The expansion includes two new buildings, advanced tools for assembly, and enhanced production efficiency. The company offers intelligent building solutions, efficient energy solutions, integrated infrastructure, and next-generation transportation systems with a geographical presence in North America, the Asia Pacific, Europe, and other regions.

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Related Reports:

Heat Pump Market

Heat Pump Water Heater Market

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DELRAY BEACH, Fla., Aug. 18, 2025 /PRNewswire/ — The report “Polylactic Acid Market by Grade (Thermoforming Grade, Injection Molding Grade, Extrusion Grade, Blow Molding Grade), Application (Rigid Thermoforms, Films & Sheets, Bottles), End-use Industry (Packaging, Consumer Goods, Agricultural, Textile, Bio-Medical), Raw Material (Sugarcane, Corn starch, Cassava, Sugarbeet), and Region – Global Forecast to 2030 “, polylactic acid (PLA) market is expected to reach USD 4.51 billion in 2030 from USD 2.01 billion in 2025, registering a CAGR of 17.5% during the forecast period.

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The PLA market is at an indispensable momentum, driven by developments in upstream sourcing and fermentation technology, and the ongoing demand growth within downstream end-markets. PLA, one of the leading bio-based plastics, continues to make inroads as an alternative to petroleum-based plastics, primarily in packaging, textiles, consumer products, and biomedical applications where environmental performance and compliance are mandatory. Other new developments surrounding PLA applications, such as in 3D printing filaments, nonwovens, and biocomposites, and also the relocalization of supply chains, which improves circularity and lowers carbon footprints, are rapidly strengthening the global transition toward PLA. Processing technologies have significantly evolved, and improvements in feedstock diversification (e.g., use of non-food biomass, agricultural waste) should also reduce the dependence on traditional feedstock, which is forecast to further expand PLA’s uptake. Both policy momentum and shifting consumer preferences toward lower-impact and renewable material solutions should contribute to continued strong growth in demand for PLA during the forecast period.

The Rigid Thermoforms Segment Accounted for the Largest Share of the Polylactic Acid Market in 2024.

The rigid thermoforms application segment accounted for the largest share of the global PLA market in 2024. The adoption of PLA in rigid thermoforms is likely attributed to PLA’s recent penetration into new markets like food trays, clamshell packaging, lids, and disposable containers. Many consumers, retailers, and foodservice companies, as well as consumer goods manufacturers, are becoming more comfortable with replacing traditional plastics with PLA, and rigid thermoforms will be increasingly popular with PLA being adopted as a replacement. There was a fundamental shift to support eco-friendly packaging as well as more regulations around single-use, petrochemical plastics that drove PLA thermoformed product demand. PLA thermoformed products have the benefits of clarity, shape retention, and compostability to support the sustainability goals of the brands and even the consumers they are marketed to. With continued growth in the e-commerce, packaged food, and QSR segments of the market, the rigidity of some PLA packaging formats will continue to be requested.

The Sugarcane Segment Accounted for the Largest Share of the Polylactic Acid Market in 2024.

In 2024, the sugarcane segment represented the largest market share across the globe of PLA by raw material. Sugarcane is increasingly favored because it has a higher fermentable sugar content than other bio-sourced feedstocks, is quickly renewed, and offers an excellent carbon footprint. The sugarcane can be substituted in the Asia-Pacific and Latin America markets, as both regions have strong sugarcane supply chains. Sugarcane-PLA is favored within the packaging sector, especially by companies that are augmenting their environmental credentials and using bio-sourced, non-GMO, and low-emission materials. The leading producers, such as TotalEnergies and Corbion, have built integrated PLA production facilities with sugarcane as a core feedstock; they also contribute to the development of global availability and the commercial scalability of products sourced from sugar-based PLA. Sugarcane is the only feedstock that can produce biopolymer at a near-industrial scale. It is the most commercially viable PLA feedstock as the world continues to develop and emerge as locations of market attractiveness.

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Thermoforming Grade Accounted for the Largest Share of the Polylactic Acid Market in 2024.

By grade, the thermoforming grade PLA segment held the largest share of the global PLA market in 2024. This is largely due to its optimized performance characteristics, including dimensional stability, good processability, and clarity, making it the preferred material for forming rigid packaging structures. Due to the uses of clay or synthetic clay, using polymers seems attractive to consumers and is in high demand; therefore, thermoforming grade PLA is particularly high in demand not only in finished products but in packaging lines in food and cosmetics and packaged consumer electronics, in which heat-resistant and form-retaining materials are critical. Because PLA is continuously being formulated, including improvements in its crystallinity and impact resistance, this thermoforming segment will be expanded to applications that have some mechanical performance requirements. Given the sheer scale of global thermoforming activity and the fact that many of the uses of polystyrene and PET can be replaced with PLA, this segment holds a strong position in the overall PLA market.

Asia Pacific Accounted for the Largest Share of the Global Polylactic Acid Market in 2024.

In 2024, Asia Pacific generated the largest revenue and had the largest volume in the global polylactic acid (PLA) market. The region has rapidly developed into a center for bioplastics manufacturing, encouraged by plentiful agricultural feedstocks, a large consumer market in the region, and increasingly strict environmental policies that are adapting to achieve plastic waste diversion strategies. Key countries such as China, Thailand, Japan, and India are stimulating regional PLA growth through government support for bio-based/natural sources and expansion of compostable packaging mandates. China is deploying its investment through public-private partnerships whereby PLA manufacturing is expanding through feedstock developments, institutional financing, and sustainability strategies. Thailand is well equipped to support developing PLA manufacturing from its position as a top country for sugarcane production, so sugarcane is readily available for PLA production. India has demonstrated an increased acceptance of sustainable product packaging and will continue to see demand growth with more interest in domestic bio-refinery operations. Overall, Asia Pacific offers a wide selection of lower-cost raw materials to order from, greater access to developing consumer end-use markets, and a good investment climate for bio-based technologies. These factors combine to affirm Asia Pacific’s role as a leader in the global PLA market.

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Key Players

The Polylactic Acid market major players such as NatureWorks LLC (US), TotalEnergies Corbion (Netherlands), BASF SE (Germany), COFCO (China), Futerro (Belgium), Danimer Scientific (US), TORAY INDUSTRIES, INC. (Japan), Evonik Industries (Germany), Mitsubishi Chemical Group Corporation (Japan), UNITIKA LTD. (Japan).

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Bioplastics & Biopolymers Market – Global Forecast to 2029

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Cashew Nutshell Liquid Market – Global Forecast to 2030

Green Methanol Market – Global Forecast to 2030

Bioresorbable Polymers Market – Global Forecast to 2029

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The increase in international travel has led to a rise in the use of aviation fuel. The continuous increase in the flow of people and goods, which calls for more flights and increases fuel consumption, lends credence to this. Airlines are forced to buy fuel quickly because of these trends, which increases their market share overall. Production processes are becoming more and more important, in addition to the advancement of renewable energy and alternative fuel sources. The industry’s transition to cleaner aviation fuels is not only good for the environment, but it also raises health regulations. It exemplifies the industry’s deeper context, the move toward environmental sustainability.

WESTFORD, Mass., Aug. 18, 2025 /PRNewswire/ — SkyQuest Technology Consulting published a report, titled, “Aviation Fuel Market – Global Opportunity Analysis and Industry Forecast, 2025-2032″, valued at USD 351.11 Billion in 2024. With a projected CAGR of 10.11% from 2025 to 2032, the market is expected to reach USD 751.01 Billion by the end of 2032. This growth is attributable to new joint ventures and large-scale production activities in the sector.

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Aviation Fuel Market Key Growth Drivers

The development and growth of fuel efficiency perseverance through the expansion of aircraft design and engineering businesses creates a good business opportunity because of a higher return on investment. These developments benefit the aviation fuel market by bringing down the cost of fuel for airline companies, which is beneficial given the rising demand for fuel with lower carbon emissions.

In addition, the use of renewable materials to produce SAF renewable additive fuels has created new opportunities for Plain SAF’s competitive advantages since these free resources have been widely marketed for sale. Airlines use SAF in their fleets to lower CO2 as part of global sustainability goals. This raises the demand for SAF considerably in addition to bringing new infrastructure and investment opportunities for the aviation fuel industry.

Recent Developments in Aviation Fuel Market

• In September 2024, TotalEnergies and Air France-KLM signed a significant agreement for TotalEnergies to supply up to 1.5 million tons of sustainable aviation fuel (SAF) over ten years, beginning in 2024. This partnership aims to support Air France-KLM’s decarbonization goals, including a 30% reduction in CO₂ emissions per passenger/km by 2030, compared to 2019 levels.
• In April 2024, Boeing committed to purchasing 7.5 million gallons of blended Neste MY Sustainable Aviation Fuel™, marking its largest SAF acquisition. This 30% SAF blend, supplied through EPIC Fuels and Avfuel, supports Boeing’s ecoDemonstrator program and aligns with its goal to reduce greenhouse gas emissions in U.S. commercial operations.
• In February 2024, Airbus and TotalEnergies signed a strategic partnership to enhance the decarbonization of aviation through sustainable aviation fuels (SAF). TotalEnergies will supply over half of Airbus’s SAF needs in Europe, and both companies will collaborate on research and innovation programs to develop 100% sustainable fuels tailored to current and future aircraft designs.

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Major Challenges in Aviation Fuel Industry

The primary factor preventing the aviation fuel market from expanding is expected to be the cost of fuel. The high cost is likely to be a barrier to market expansion. Since jet fuel is a derivative of Brent crude oil, the reason for the rise in fuel prices is the higher price of Brent crude oil. The price of Brent crude oil is rising as a result of the mismatch between supply and demand. Despite the rising demand for Brent crude oil, prices are driven up by the lack of production. Saudi Arabia, one of the founding members of the Organization of the Petroleum Exporting Countries (OPEC), significantly cut back on its crude oil production. They claimed that the weakening global economy and rising interest rates in some western countries were the reasons behind the production cut, which accounted for 2% of global supply.

The market is predicted to suffer since low-income nations might not be able to pay the exorbitant airfares brought on by these factors. Asia Pacific and Africa are two of the price-sensitive regions. Due to their lower per capita incomes, developing countries in the region are unable to purchase pricey tickets.

Competitive Landscape

ExxonMobil is expected to generate USD 339.9 billion in 2024, followed by Chevron with USD 194.7 billion, Total with USD 210.2 billion, Shell with USD 302 billion, and Reliance Petroleum with USD 15.7 million. These are the top five companies in the aviation fuel industry. Each business contributes to the growth of the regional aviation fuel sector.

ExxonMobil, Shell, Chevron, and Total are the industry leaders in aviation fuel, working tirelessly to supply jet fuel to airlines worldwide. Those airlines have some refinishing and distribution capabilities to guarantee product quality. These businesses follow safety and fuel performance regulations and operate across several regions. British Airways, Eastern Canadian Airlines, and Australian Airlines Corporations all maintain efficient fuel emissions carbon consumption to help lower carbon emissions.

The major players in the Aviation Fuel industry include,

• Neste Corporation
• Exxon Mobil Corporation
• Chevron Corporation
• BP plc
• Shell plc
• TotalEnergies SE
• Indian Oil Corporation Ltd.
• Valero Energy Corporation
• Phillips 66 Company
• Bharat Petroleum Corporation Limited
• LanzaTech Global, Inc.
• World Energy LLC
• Gevo, Inc.
• Petróleo Brasileiro S.A
• OMV Aktiengesellschaft
• China Petrochemical Corporation
• Vitol
• Essar Group
• World Kinect Corporation
• Aemetis, Inc.

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Aviation Fuel Market Segmental Analysis

The global aviation fuel market is segmented into fuel processing technology, aircraft type, fuel type, end user, and region. By fuel processing technology, the market is classified into conventional, hydrotreating, catalytic cracking, isomerization, blending, synthetic fuel, water electrolysis, reverse water-gas shift, hydrocracking & fractionation, biofuel, alcohol-to-jet conversion, and biomass-to-liquid. Depending on aircraft type, it is divided into fixed wing, military aviation, business & generation aviation, rotary wing, military helicopter, unmanned aerial vehicle (UAV), and defense & military. According to fuel type, the market is categorized into conventional aviation fuel, sustainable aviation fuel, hydrogen fuel, power-to-liquid, and gas-to-liquid. As per end user, it is segregated into airline, government & military, and non-scheduled operator.

• By fuel processing technology, hydrotreating, especially the Hydroprocessed Esters and Fatty Acids, Synthetic Paraffinic Kerosene (HEFA-SPK) pathway, dominated the market in 2024. It had the biggest market share among sustainable aviation fuel (SAF) technologies due to its proven scalability, compatibility with modern jet engines, and widespread regulatory acceptance. Large producers such as Neste and World Energy have significantly expanded the capacity of HEFA production worldwide.
• By aircraft type, fixed-wing aircraft, which include freight, commercial, and military aircraft, will consume more than 72% of aviation fuel in 2023–2024. Due to its extensive use in the transportation of people and goods, gasoline is in high demand worldwide.
• By fuel type, the primary fuel for airplanes is still jet A/A-1, which will account for about 96% of the market in 2024. Sustainable aviation fuel’s current infrastructure, dependability, and engine compatibility keep it at the top even if more people become interested in it.
• By end user, the commercial aircraft category is the largest users of aviation fuel in 2024, accounting for more than 60% of total usage. Due to the large number of passenger and freight flights, commercial aviation is the primary cause of the world’s gasoline consumption.

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Regional Outlook

North America held the largest aviation fuel market in 2024 due to its robust commercial aviation sector, ongoing additions of SAF (Sustainable Aviation Fuel), and robust regulatory support. SAF gained popularity due to the U.S. Inflation Reduction Act and incentives for producing biofuel. The continued use of conventional and alternative aircraft fuels was ensured by major airlines and regional defense operations.

Asia-Pacific expanded at the fastest rate in 2024 due to aggressive fleet growth, a growing middle class, and more people traveling. Much money was spent on creating SAF throughout the region, particularly in Southeast Asia, China, and India. As defense spending increased and infrastructure improved, both the military and the civilian sectors required more types of aviation fuel.

Europe is significantly ahead in 2024 due to its stringent environmental laws, such as the EU ETS (Emissions Trading System), which mandated SAF blending and carbon pricing. SAF production and usage increased as a result of the region’s focus on decarbonizing aviation and collaboration between airlines and fuel suppliers. Power-to-liquid fuels and hydrogen are also very popular in the European market.

The LAMEA aviation fuel market grew steadily in 2024. Due to its extensive refinery capacity and importance on international aviation routes, the Middle East had a significant impact. Regional air travel increased in Latin America, and new airline routes and infrastructure upgrades in Africa increased demand. Comparatively speaking, this region’s adoption of SAF was still quite low.

Explore Extensive ongoing Coverage on Energy Sector:

Automotive Engine Oil Market – Global Opportunity Analysis and Industry Forecast – 2032 https://www.skyquestt.com/report/automotive-engine-oil-market 

Methanol Market – Global Opportunity Analysis and Industry Forecast – 2032 https://www.skyquestt.com/report/methanol-market 

Distributed Energy Resource Management System Market – Global Opportunity Analysis and Industry Forecast – 2032 https://www.skyquestt.com/report/distributed-energy-resource-management-system-market 

Hydrogen Energy Storage Market – Global Opportunity Analysis and Industry Forecast – 2032 https://www.skyquestt.com/report/hydrogen-energy-storage-market 

Pressure Vessels Market – Global Opportunity Analysis and Industry Forecast – 2032 https://www.skyquestt.com/report/pressure-vessels-market

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SkyQuest Technology Consulting is a leading Strategy Consulting and Market Research firm, provides syndicated as well as customized research reports and growth consulting services, trusted by CXOs from Fortune 500 Companies, Start-ups, and MSMEs. The company comprises a team of expert research analysts and consultants, adding more than 1200 market research reports in our database each year. These reports offer in-depth analysis on 40+ industries & sub industries across 25 major countries worldwide, serving global clients across diverse industries. The company specializes in delivering customized intelligence, data-driven insights, and strategic advisory services that enable businesses to stay competitive and make informed decisions in rapidly evolving industries.

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LAUSANNE, Switzerland, Aug. 18, 2025 /PRNewswire/ – BRP Inc. (TSX: DOO) (NASDAQ: DOOO) is charging ahead in its mission to electrify powersports with the launch of the all-new 2026 Can-Am Outlander Electric, an all-terrain vehicle (ATV) engineered for performance, durability, and a whisper-quiet ride. This latest innovation strengthens BRP’s long-term commitment to redefining the riding experience through purpose-built electric models that deliver all the excitement of combustion, but with a different, equally thrilling ride experience.

BRP’s electric lineup now includes the Can-Am Pulse and Origin motorcycles, four Ski-Doo and Lynx electric snowmobiles, the Rotax E10 racing powerpack for karts, and the Can-Am Outlander Electric, each designed to meet the needs of specific riders and applications.

“At BRP, our approach to electrification is intentional and strategic – we electrify where it makes business sense and adds real value to customers,” said José Boisjoli, President and CEO of BRP. “The Outlander Electric is a powerful, quiet, and capable ATV that reflects our commitment to innovation and sustainability. This is an¡`pother important step in our journey to play a leadership role in this technological evolution and to bolster our offering with completely new experiences, electrified with our very own technology.”

A Quiet Evolution: the All-New 2026 Can-Am Outlander Electric
The 2026 Can-Am Outlander Electric redefines utility and adventure for farmers, ranchers, and outdoor enthusiasts alike. Powered by the same in-house, modular Rotax E-Power powerpack as BRP’s electric motorcycles and snowmobiles, this new model delivers 47 hp and 53 lb-ft of torque, with up to 80 km (50 miles) of range in optimal conditions. It features instant throttle response, selectable ride modes – Normal, Sport, Work – and charges from 20 to 80% in just 50 minutes using a Level 2 charger.

What truly sets it apart is its whisper-quiet operation. Outfitted with electric power, noise-reducing XPS Recon Force tires, optimized suspension, and a low-noise cooling system, it enables a smooth riding experience that is perfect for connecting with the land and exploring nature without disturbing it. All of this, while still delivering the true Can-Am experience with industry-leading 830 kg (1,830 lbs) of towing capacity, impressive off-road performance, and more than 120 available accessories to deliver a fully customizable experience for any rider, in any environment.

“With the Outlander Electric, we’re not just launching a new ATV, we’re introducing a new way to experience the outdoors and get the job done,” said Julie Tourville, Director, Global Marketing, Can-Am Off-Road at BRP. “This vehicle is built to let riders and workers feel more connected to their surroundings. It’s powerful, quiet, and true to what we do at BRP. It shows how we bring purposeful innovation to life.”

One Year In: Can-Am Electric Motorcycles
A full year after the official launch of the Can-Am Pulse and Can-Am Origin, BRP’s reentry into the motorcycle market has been met with enthusiasm. Supported by a global network of 265 dealers (and growing), these all-electric motorcycles are designed for urban riders and dual-sport explorers, and they introduce new levels of ease of use and design to the category.

The motorcycles are powered by BRP’s 8.9 kWh liquid-cooled battery system, delivering up to 160 km (100 miles) of range in the city and 0-100 km/h (0-60 mph) acceleration in under four seconds. Rider feedback has been positive, praising the torque-rich experience, smooth handling, and quiet confidence they bring to the road and trail.

Electrifying the Snow: Ski-Doo and Lynx Lead the Way
In 2023, BRP introduced its first electric snowmobiles under the Ski-Doo and Lynx brands. Today, four electric models – designed initially for tour operators, ski centers, and resorts – are now available to consumers, offering zero-emission access to the backcountry. Early adoption from outfitters through BRP’s Uncharted Society curated adventure network has helped BRP refine its platforms while delivering real-world performance in some of the world’s best playgrounds.

BRP: The Electrification Leader in Powersports
BRP stands alone as the powersports OEM with the most electric models across the most categories. Each of BRP’s electric vehicles is designed around the application, whether that’s quiet snow travel, nimble commuting, or hardworking ranch chores. This breadth reflects BRP’s deep understanding of its global customer base and where vehicle innovations will maximize value to them.

With development centers in Valcourt, Quebec, Canada and Gunskirchen, Austria, and assembly across Mexico and Finland, BRP is the only powersports OEM with a fully integrated in-house modular electric powertrain spanning battery pack, inverter, motor, charger, and control software. This strategy gives BRP unmatched agility, performance and charging consistency, and the ability to scale electrification in the long term.

About BRP
BRP Inc. is a global leader in the world of powersports products, propulsion systems and boats built on over 80 years of ingenuity and intensive consumer focus. Through its portfolio of industry-leading and distinctive brands featuring Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds. The Company completes its lines of products with a dedicated parts, accessories and apparel portfolio to fully optimize the riding experience. Committed to growing responsibly, BRP is developing electric models for its existing product lines. Headquartered in Quebec, Canada, BRP had annual sales of CA$7.8 billion from over 130 countries and employed approximately 16,500 driven, resourceful people as of January 31, 2025.

www.brp.com
@BRPNews

For media enquiries:

Peter Trampert
EMEA Public Relations Advisor, BRP
peter.trampert@brp.com

Dederichs Reinecke & Partner
André Schmidt
brp@dr-p.de

For investor relations:

Philippe Deschênes
Investor Relations
philippe.deschenes@brp.com
Tel.: +1 450.532.6462

View original content to download multimedia:https://www.prnewswire.com/news-releases/brp-expands-its-global-electric-powersports-offering-with-launch-of-all-new-2026-can-am-outlander-electric-302531823.html

SOURCE BRP Inc.

NEW YORK, Aug. 17, 2025 /PRNewswire/ — In response to Lyft announcing that it will begin implementing age verification to ensure electric Citi Bike riders are 16 or older, Tusk Philanthropies, who developed and led the effort to bring about this change — including creating the initial idea, authoring a recent op-ed in the Daily News calling on Lyft to verify age, and then bringing forth multiple political forces to pressure Lyft — released the following statement from its founder and CEO Bradley Tusk:

Lyft, the operator of Citi Bike, has agreed to begin verifying the age of riders on their electric bikes to ensure that people under 16 are not able to ride them. Underage teenagers, especially boys, have been recklessly riding ebikes at top speed — without a helmet — since the program’s introduction. With ebike injuries surging 293% from 2019-2022 nationwide and more than 400 ebike crashes citywide so far in NYC (a 20% increase over this point last year), it’s only a matter of time until a child on a Citi Bike either dies in an ebike crash or seriously injures someone else.

By agreeing to verify the age of their customers, Lyft is preventing that from happening and I am grateful to them for it. I am also very grateful to First Deputy Mayor Randy Mastro for using his influence to force Lyft to the table, negotiating this deal and getting such a great outcome for the people of New York City, just like he did by lowering the ebike speed limit.

Ed Skyler, Head of Enterprise Services & Public Affairs at Citi, did the same, as did Council Member Justin Brannan who began the campaign three weeks ago by demanding that Lyft start verifying age. Their work was instrumental. This wouldn’t have happened without them.

This isn’t the biggest issue facing New York but as a parent, I know how much I worry and I know how important this is. This announcement will save lives. It will save families from heartbreak. It will save teenagers from their own bad judgment. It’s a good day for New York.

About Bradley Tusk:
Bradley Tusk is a venture capitalist, political strategist, and philanthropist. Bradley’s family foundation, Tusk Philanthropies, has played a unique and impactful role in securing public policy wins for New Yorkers, including recent successes in the fight to implement age verification for electric Citi Bike riders, ban forced brokers fees, reform overly burdensome scaffolding regulations, pass legislation to provide legal protection for doctors who prescribe abortion medication via telemedicine to women in restricted states, and secure universal school meals for all New York State students.

Further from home, Tusk Philanthropies is also funding and leading the national campaign to bring mobile voting to all U.S. elections. Tusk Philanthropies also runs and funds Solving Hunger, whose work has led to passage of legislation creating $2 billion in new annual funding for anti-hunger policies and programs in 24 different states, helping to feed nearly 14 million people on a daily basis.

Bradley hosts a podcast, Firewall, about the intersection of tech and politics and owns an independent bookstore, P&T Knitwear, on Manhattan’s Lower East Side, which is home to New York City’s only professional podcast studio that is free for community use.

Earlier in his career, Bradley served as campaign manager for Mike Bloomberg’s 2009 mayoral race, as Deputy Governor of Illinois, overseeing the state’s budget, operations, legislation, policy and communications, as communications director for US Senator Chuck Schumer, and as Uber’s first political advisor.

Contact: cory@tuskholdings.com 

 

View original content:https://www.prnewswire.com/news-releases/statement-from-bradley-tusk-in-response-to-lyfts-announcement-that-it-will-implement-age-verification-for-electric-citi-bike-riders-302531693.html

SOURCE Tusk Philanthropies

ATLANTA, Aug. 15, 2025 /PRNewswire/ — Novelis Inc. (the “Company”) announced today the results of its indirect wholly-owned subsidiary, Novelis Corporation’s (the “Issuer”) previously announced cash tender offer for any and all of its 3.250% Senior Notes due November 2026 (the “Notes”), upon the terms and conditions included in the Offer to Purchase, dated August 11, 2025.

As of the expiration time of the tender offer, which was 5:00 pm., New York City time, on August 15, 2025 (the “Expiration Time”), the aggregate principal amount of the Notes that have been validly tendered and not validly withdrawn was $738,116,000, representing 98.4% of the $750,000,000 aggregate outstanding principal amount of the Notes, which amount includes $2,326,000 that remain subject to the applicable guaranteed delivery procedures. Holders who indicated by the Expiration Time that they will deliver their Notes through the guaranteed delivery procedures set forth in the Offer to Purchase must deliver their Notes by 5:00 p.m., New York City time, on August 19, 2025. The complete terms and conditions of the Tender Offer were set forth in the Offer to Purchase and the related notice of guaranteed delivery (the “Notice of Guaranteed Delivery”).

Subject to the terms and conditions of the tender offer being satisfied or waived, holders who validly tendered and did not withdraw Notes prior to the Expiration Time will receive the “Tender Offer Consideration” equal to $997.50 per $1,000 principal amount of Notes. In addition to the Tender Offer Consideration, holders will receive accrued and unpaid interest on the Notes from the most recent payment of semi-annual interest for such Notes preceding the Settlement Date to, but not including, the Settlement Date. The Settlement Date is expected to be August 18, 2025. With respect to the Notes tendered and accepted for purchase, if any, pursuant to the guaranteed delivery procedures described in the Offer to Purchase, the holders of any such Notes will receive payment of the Tender Offer Consideration for such Notes, plus accrued and unpaid interest from the most recent payment of semi-annual interest for such Notes preceding the Settlement Date up to, but not including, the Settlement Date, on the settlement date for any Notes tendered pursuant to a Notice of Guaranteed Delivery, which is expected to be August 20, 2025. All accrued and unpaid interest on the Notes from the most recent payment of semi-annual interest for such Notes up to, but not including, the Settlement Date will cease to accrue on the Settlement Date for all Notes accepted for purchase pursuant to the Tender Offer, including those tendered pursuant to the Notice of Guaranteed Delivery.

The Company intends to redeem any Notes that are not purchased in the tender offer in accordance with the indenture governing the Notes as more fully described in the Offer to Purchase.

The Company has engaged BNP Paribas Securities Corp. to act as Dealer Manager for the tender offer. Persons with questions regarding the tender offer should contact BNP Paribas Securities Corp. toll-free at (888) 210-4358 or collect at (212) 841-3059. Requests for documents should be directed to D.F. King & Co., Inc., the Tender and Information Agent for the tender offer, at (212) 269-5550 (for banks and brokers) or (800) 967-5071 (for noteholders) or by email at LegalTeamUS@equiniti.com.

This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to purchase with respect to any of the Notes. The tender offer is being made pursuant to the tender offer documents, including the Offer to Purchase and Notice of Guaranteed Delivery that the Company is distributing to holders of the Notes. The tender offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws of such jurisdiction. None of the Company, the Dealer Manager, the Tender and Information Agent or their respective affiliates is making any recommendation as to whether or not holders should tender all or any portion of their Notes in the tender offer.

About Novelis

Novelis Inc. is driven by its purpose of shaping a sustainable world together. We are a global leader in the production of innovative aluminum products and solutions and the world’s largest recycler of aluminum. Our ambition is to be the leading provider of low-carbon, sustainable aluminum solutions and to achieve a fully circular economy by partnering with our suppliers, as well as our customers in the aerospace, automotive, beverage packaging and specialties industries throughout North America, Europe, Asia and South America. Novelis had net sales of $17.1 billion in fiscal year 2025. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai. For more information, visit novelis.com.

Forward-Looking Statements

Statements made in this news release which describe Novelis’ intentions, expectations, beliefs or predictions may be forward-looking within the meaning of securities laws. Forward-looking statements include statements preceded by, followed by, or including the words “believes,” “expects,” “anticipates,” “plans,” “estimates,” “projects,” “forecasts,” or similar expressions. Examples of forward-looking statements in this news release are statements about the timing and completion of the tender offer. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty and Novelis’ actual results could differ materially from those expressed or implied in such statements. Novelis does not intend, and Novelis disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

View original content to download multimedia:https://www.prnewswire.com/news-releases/novelis-announces-results-of-tender-offer-for-3-250-senior-notes-due-november-2026–302531443.html

SOURCE Novelis Inc.

Includes a brief overview of the Fitzgerald tragedy

DETROIT, Aug. 15, 2025 /PRNewswire/ — November 10, 2025, marks the 50th anniversary of the tragic sinking of the SS Edmund Fitzgerald, one of the most well-known maritime disasters in Great Lakes history. All 29 crew members were lost when the ship sank in a treacherous Lake Superior storm.

Mariners’ Church of Detroit, which has honored the Great Lakes maritime tradition since 1842, is committed to supporting accurate and meaningful media coverage of this milestone. The church is offering journalists access to:

• Subject matter experts and spokespeople
• Archival articles, photographs and historical documentation
• List of 50^th anniversary commemoration activities and events

To access resources, please visit HERE (https://marinerschurchofdetroit.org/edmund-fitzgerald/)

The Edmund Fitzgerald: A Brief Overview

At 1:15 p.m. CT on Nov. 9, 1975, the Edmund Fitzgerald, then the largest ship on the Great Lakes, set sail from the Burlington Northern Railroad dock in Superior, WI loaded with 26,116 long tons of taconite headed for a steel mill on Zug Island near Detroit. Weather was normal for the time of year, although conditions rapidly deteriorated. By Nov. 10, winds exceeded 50 mph and waves towered up to 25 feet.

At approximately 7:10 p.m., just 17 miles from Whitefish Bay, the Fitzgerald vanished from radar. No distress signal was sent. The ship likely sank bow-first in violent seas. All 29 crew members perished.

In the early hours of Nov. 11, 1975, Rev. Richard Ingalls of Mariners’ Church rang the church’s Brotherhood Bell 29 times — once for each life lost. Ingalls said he paused between each of the 29 pulls, allowing the sound to echo over the quiet city on that cold November dawn. Soon, community members and more than a dozen reporters had made their way to the church to learn about the shipwreck firsthand.

Ingalls’ act was later immortalized in Gordon Lightfoot’s iconic song, The Wreck of the Edmund Fitzgerald, and bell-ringing tradition has continued each year since at Mariners’ Annual Great Lakes Memorial Service, held on the second Sunday of November.

Given that Mariners’ Church served as a central hub for news and reporting on the morning of the tragedy 50 years ago, the church is honored to once again offer that role with historical documents, contacts and accurate information for those covering this significant anniversary. Visit: https://marinerschurchofdetroit.org/edmund-fitzgerald/

View original content:https://www.prnewswire.com/news-releases/media-alert-resources-available-for-50th-anniversary-coverage-of-the-ss-edmund-fitzgerald-tragedy-302531264.html

SOURCE Mariners’ Church of Detroit

CHICAGO, Aug. 15, 2025 /PRNewswire/ — Marlton Partners L.P. (together with its affiliates and group members, “Marlton” or “we”), beneficial owners of approximately 5.8% of the outstanding stock of 180 Degree Capital Corp. (NASDAQ: TURN) (“TURN” or the “Company”), today announced that it has filed a preliminary proxy statement with the U.S. Securities Exchange and Commission to be used to solicit votes for the election of its four highly-qualified and independent director candidates – James C. Elbaor, Gabriel (Gabi) Gliksberg, Aaron Morris and Andrew (Andy) Greenberg (together, the “Nominees”) – at the Company’s upcoming Special Meeting of Shareholders scheduled for September 15. 

James C. Elbaor, Managing Member of Marlton, commented:

“Yesterday, we filed our preliminary proxy related to our previously announced nomination of four highly-qualified director candidates to the TURN Board. As long-term shareholders, we remain committed to realizing TURN’s full potential, and believe the September 15 meeting is a long overdue opportunity for Company shareholders to cast their vote on the composition of the Board. Since first engaging with the Company more than a year ago, we have remained steadfast in our intention of helping instill strong governance at TURN and to ensure that shareholder capital is respected. We look forward to TURN’s owners having their rightful say on the future of the Company in September, and to speaking with shareholders directly about our nominees once we have a Definitive Proxy statement on file.”

About Marlton Partners L.P.
Marlton Partners L.P. is a Chicago-based, privately held investment firm led by James C. Elbaor. The firm has a proven track record of success in investing in closed-end funds and acquires significant ownership positions in other assets where it believes long-term value can be enhanced through active ownership. Mr. Elbaor holds a B.A. from New York University and an M.B.A. from Columbia University. For more information about Marlton Partners L.P., please visit https://MarltonLLC.com.

DISCLAIMER
This material does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. In addition, the discussions and opinions in this press release and the material contained herein are for general information only, and are not intended to provide investment advice. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are “forward-looking statements,” which are not guarantees of future performance or results, and the words “may,” “might,” “could,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” the negative of these terms and other comparable terminology are generally intended to identify forward-looking statements. Any such forward-looking statements contained herein are based on current assumptions, estimates and expectations, but are subject to a number of known and unknown risks and significant business, economic and competitive uncertainties that may cause actual results to differ materially from expectations. Any forward-looking statements should be considered in light of those risk factors. The Participants (as defined below) caution readers not to rely on any such forward-looking statements, which speak only as of the date they are made. Certain information included in this press release is based on data obtained from sources considered to be reliable. No representation is made with respect to the accuracy or completeness of such data, and any analyses provided to assist the recipient of this press release in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses should also not be viewed as factual and should not be relied upon as an accurate prediction of future results. Any figures are unaudited estimates and subject to revision without notice. The Participants disclaim any intent or obligation to publicly update or revise any such forward-looking statements to reflect any change in expectations or future events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results may differ from those set forth in such forward-looking statements.

CERTAIN INFORMATION CONCERNING THE PARTICIPANTS

Marlton Partners L.P., a Delaware limited partnership (“Marlton Partners”), together with the other Participants named herein, filed a preliminary proxy statement and an accompanying proxy card with the Securities and Exchange Commission (“SEC”) on August 15, 2025 to be used to solicit votes for the election of its slate of highly-qualified director nominees at the special meeting of shareholders of 180 Degree Capital Corporation, a New York corporation (the “Company”), to be held on September 15, 2025, for the sole purpose of the election of directors.

THE PARTICIPANTS STRONGLY ADVISES ALL SHAREHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS, INCLUDING A PROXY CARD, AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS’ PROXY SOLICITOR.

The participants in the proxy solicitation are expected to be Marlton Partners, Marlton, LLC, James C. Elbaor, Aaron T. Morris, Gabriel D. Gliksberg, ATG Fund II, LLC, ATG Capital Management, LLC, and Andrew M. Greenberg (collectively, the “Participants”).

As of the date hereof, Marlton Partners is the beneficial owner of 174,867 shares of common stock, par value $0.03, of the Company (the “Common Shares”). Marlton, LLC, a Delaware limited liability company (“Marlton”) is the investment manager of Marlton Partners and, by virtue of that relationship, may be deemed to beneficially own the 174,867 Common Shares beneficially owned by Marlton Partners. Mr. Elbaor is the President of Marlton and, by virtue of that relationship, may be deemed to beneficially own the 174,867 Common Shares beneficially owned directly by Marlton. ATG Fund II LLC, a Delaware limited liability company (“ATG Fund II”) is the beneficial owner of 300,004 Common Shares. ATG Capital Management, LLC, a Delaware limited liability company (“ATG Management”), is the managing member of ATG Fund II and, by virtue of that relationship, may be deemed to beneficially own the 300,004 Common Shares beneficially owned by ATG Fund II. Mr. Gliksberg is the managing member of ATG Management and, by virtue of that relationship, may be deemed to beneficially own the 300,004 Common Shares beneficially owned by ATG Management. As of the date hereof, Mr. Gliksberg is the beneficial owner of 87,862 Common Shares. As of the date hereof, Mr. Morris is the beneficial owner of 10,670 Common Shares. As of the date hereof, Mr. Greenberg is the beneficial owner of 10,000 Common Shares. As of the date hereof, the Participants may be deemed to collectively beneficially own 583,403 Common Shares.

Media Contact:
ASC Advisors
Taylor Ingraham (203 992 1230)
tingraham@ascadvisors.com

Investors Contact:
James C. Elbaor (214-405-4141)
James@marltonllc.com

View original content:https://www.prnewswire.com/news-releases/marlton-partners-files-preliminary-proxy-statement-related-to-election-of-directors-for-the-180-degree-capital-board-of-directors-302531249.html

SOURCE Marlton Partners L.P.

Veteran HR leader brings deep organizational knowledge and a passion for mission-driven work to the executive team

OAKLAND, Calif., Aug. 15, 2025 /PRNewswire/ — Fred Finch Youth & Family Services is pleased to announce the appointment of Eunice McFarland as Vice President of Human Resources. McFarland, a seasoned HR professional with over 15 years of experience in human resource leadership, will join the Fred Finch Executive Team and lead all aspects of human resources strategy across the agency, including talent development, employee engagement, equity initiatives, and trauma-informed employment practices. She succeeds Lois Woods, who recently retired after many years of dedicated service.

McFarland previously served Fred Finch from 2008 to 2021 as both a Human Resources Generalist and later as Human Resources Manager for Southern California. Known for her collaborative spirit, steady leadership, and deep commitment to the organization’s mission, she played a key role in strengthening HR operations across regions. During her time away, she remained actively involved with Fred Finch by serving as a dedicated member of the CARES Board of Directors.

“Eunice has long been a trusted and respected member of the Fred Finch community, and her return is a tremendous win for our organization,” said Tom Alexander, President & CEO of Fred Finch. “She brings not only a strong understanding of our internal culture and systems but also expanded expertise in trauma-informed practices that will help move our work forward.”

Since 2021, McFarland has served as Human Resources Director at Voices for Children, a court-appointed advocacy organization supporting youth in Southern California. In that role, she oversaw all HR functions and led organization-wide initiatives to advance equity, inclusion, and employee well-being.

McFarland holds a bachelor’s degree from Alma College and a master’s degree in philosophy from the University of Glasgow. She is also a SHRM Senior Certified Professional (SHRM-SCP). She officially begins her new role on July 28, 2025, and will be based in San Diego while working closely with teams across California.

To learn more about our leadership team, visit: fredfinch.org/leadership

About Fred Finch Youth & Family Services

Fred Finch Youth & Family Services is a 501(c)(3) nonprofit dedicated to fostering resilience, wellness, and equity for youth, families, and communities. Through culturally responsive, trauma-informed care, we provide mental health, behavioral health, and social services to those facing complex challenges, including trauma, poverty, homelessness, systemic barriers, and cognitive disabilities. For more than a century, Fred Finch has partnered with individuals and communities to ensure access to compassionate, high-quality support that empowers people to build brighter futures. Learn more at: fredfinch.org

Contact: Eva Hadley evahadley@fredfinch.org 

View original content:https://www.prnewswire.com/news-releases/fred-finch-youth–family-services-appoints-eunice-mcfarland-as-vice-president-of-human-resources-302531221.html

SOURCE Fred Finch Youth & Family Services

• Water Farm 1 scales from 10 MGD to up to 60 MGD to provide reliable supplies for seven water agencies across drought-prone Southern California
• OceanWell’s subsea desalination pods harness ocean pressure to reduce energy use and eliminate concentrated brine discharge
• Delivery targeted for 2030 as the project enters commercial planning and phased infrastructure development 

SANTA MONICA, Calif., Aug. 15, 2025 /PRNewswire/ — OceanWell, a water technology company, announced plans to advance Water Farm 1 (WF1)– the first subsea reverse osmosis desalination project in the U.S. — in partnership with Las Virgenes Municipal Water District (LVMWD) and a consortium of six other California water agencies. The project is expected to deliver up to 60 million gallons per day (MGD), or just under 230,000 m³ per day, of drinking water by 2030 – offering a new model for reliable, drought-resilient water supply.

Anchored approximately 4.5 miles off the coast of Malibu, CA, in Santa Monica Bay, WF1 represents a major leap forward in resilient water supply. Using natural hydrostatic pressure at depths of 400 meters (1,300 feet), OceanWell’s modular pods can each harvest up to one million gallons of fresh water daily, reducing energy use by 40% and avoiding the brine discharge and marine life disruption associated with traditional desalination.

This announcement comes as California faces mounting water insecurity due to prolonged drought, declining runoff, and overreliance on fragile ecosystems. WF1 offers a new model that reduces pressure on strained systems like California’s Bay-Delta system and the Colorado River and unsustainable aquifer extraction, helping secure a more resilient, climate-aligned water future.

“California, like much of the world, urgently needs a new source of water to replace dwindling supplies,” said Robert Bergstrom, CEO of OceanWell. “Water Farm 1 shows how we can responsibly and economically harvest fresh water from the ocean by building infrastructure to withstand rapidly melting snowpack, increasing drought, more extreme atmospheric rivers, sea water intrusion, and overdrawn groundwater. Water Farm 1 is a critical milestone toward OceanWell’s goal of adding one million acre-feet of new potable water to the global supply within a decade.”

WF1 follows the launch of OceanWell’s pilot program with LVMWD, which began in March 2025 to prove the efficacy of its proprietary submerged water filtration technology. That pilot, conducted in the Las Virgenes Reservoir, is testing a single pod and showed the potential to produce freshwater in highly bio-active conditions using OceanWell’s LifeSafe™ intake system. WF1 marks the first commercial-scale deployment, expanding from one pod in a reservoir to dozens of pods operating in the deep ocean.

To prepare for the scale and complexity of WF1, the seven-agency consortium led by LVMWD is currently funding an independent feasibility study on onshore infrastructure. The study is evaluating how to integrate water produced by WF1  into regional systems, including potential delivery to Calabasas and other inland communities, and will inform investment decisions and permitting.

In parallel, OceanWell’s Tribal and Environmental Working Groups will assess data from the remaining pilot stages to evaluate the environmental performance of the offshore pods. Their guidance will help shape the optimal size and configuration of the water fields, ensuring the project reflects ecological best practices and community priorities.

Mark Gold, UCLA Institute of the Environment and Sustainability Adjunct Professor: “I am eager to see if Ocean Well’s ambitious Water Farm 1 project is durable, cost-effective, scalable, harmless to marine life, and performs at high efficiency in deep ocean coastal waters. Ideally, the pilot study off Malibu in Santa Monica Bay will demonstrate the potential of Ocean Well to provide a new, climate-resilient, source of 10s of millions of gallons per day of fresh water by 2030.”

Dave Pedersen, General Manager, Las Virgenes Municipal Water District: “Las Virgenes water customers were severely impacted by recent droughts, because our only source of supply is the water imported through the State Water Project, which has become increasingly stressed. We are proud to provide leadership to address what is, for us, nearing a water supply crisis. Developing an alternative water supply from the Pacific Ocean makes sense, and we will work with OceanWell and other public water agencies to achieve that goal.”

Ian Prichard, Deputy General Manager, Calleguas Municipal Water District: “Our region’s future water reliability depends on cooperation. Figuring out how to deliver water from 400 meters below the ocean surface to inland water agencies demands the resources and creativity of multiple agencies, and that is exactly the approach water agencies are taking with Water Farm #1. The ultimate test will be whether this water can be a cost-effective alternative to other potential solutions, but the process is going to help us determine that—together.”

Richard Wilson, Assistant General Manager, Burbank Water and Power: “The City of Burbank does not have the ability to receive water directly from the Pacific Ocean. But with others in this consortium, we are working with the Metropolitan Water District of Southern California (MWD) to develop an innovative program to receive this water through an exchange. Burbank will pay for the delivery of OceanWell water to other partners in Water Farm. The water can then be exchanged between partners within the consortium by using water within MWD’s system.”

About OceanWell
OceanWell has redesigned sourcing fresh water from the ocean into a clean, elegant solution that harvests affordable, abundant, fresh water. Its modular deep-sea water farm technology uses hydrostatic ocean pressure at depths of 400m+ to naturally power the reverse osmosis process and make fresh water. OceanWell will do this with vastly improved energy efficiency, limited brine outfall and limited impact to protect marine life and no onshore plant. This eliminates the legacy technology burdens of high energy use, ecological impact, and a large industrial seaside facility. Backed by Kubota, OceanWell is an Imagine H20 graduate, participant in XPRIZE’s Water Scarcity competition, and is supported by a working group of 25 California water agencies. To learn more, visit oceanwellwater.com.

About LVMWD
Las Virgenes Municipal Water District provides potable water, wastewater treatment, recycled water and biosolids composting to approximately 70,000 residents in the cities of Agoura Hills, Calabasas, Hidden Hills, Westlake Village, and unincorporated areas of western Los Angeles County.

Contact: oceanwell@berlinrosen.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/oceanwell-and-las-virgenes-municipal-water-district-launch-california-water-farm-1-with-capacity-of-60-million-gallons-per-day-as-six-agencies-join-project-302531079.html

SOURCE OceanWell