Daily Archives: September 16, 2021

A Traveler’s Dream Come True: High Performance Connectivity, Free International Calls, Wi-Fi Hotspot, and More — All in One Low-Cost Smartphone App

An innovative new app from Portuguese tech company iToorer solves a longstanding problem for international travelers and digital nomads: the exorbitant cost of data and roaming charges. The app also presents new revenue and communications channels for hotels, travel advisors, and other suppliers who offer it to clients.

Featured Image for iToorer

Featured Image for iToorer

Porto, Portugal, Sept. 16, 2021 (GLOBE NEWSWIRE) — iToorer, a Portugal-based developer of global technology solutions for travel connectivity, is introducing a new product that is set to revolutionize the way travelers use their smartphones while abroad. iToorer’s mobile app, available for iOS and Android, gives users unlimited, secure high-performance connectivity shareable with additional devices, free international and local outgoing and incoming calls, and essential travel content — all for one low price.

With iToorer’s app, international travelers will no longer have to purchase expensive international data plans, incur sky-high roaming charges, fear sticker shock from unintended data usage, or spend precious vacation time hunting down local SIM cards or unsecured Wi-Fi hotspots. The app lets travelers stay in touch with friends, family, and colleagues — and use all their web-enabled smartphone apps — in more than 100 countries around the world. Global travelers will be able to use their smartphones just as they do at home, confident in the service’s cost, security, and reliability.

The app also provides a new revenue stream and communications channel for hotels, airlines, travel management companies, loyalty programs, and other travel supplier partners that offer it to their clients. Infinitely customizable, the app displays the partner’s brand and allows for direct communication with the client for information, sales, and marketing. Through the app, a supplier can promote a special offer, encourage a future booking, send an alert about changes or disruptions, or let the client place a direct (and free) call to customer support.

This new mobile technology solution is the logical evolution of iToorer’s legacy product, which provides similar services to both clients and partners via a separate device. By developing an app with a virtual SIM card, the app offers travelers unlimited data for both web browsing and international phone calls in over 100 countries while using their own devices and all of the apps they have installed. The app is compatible with most models of iPhone, iPad, Samsung Galaxy, and Google Pixel devices, with additional devices being added frequently.

iToorer’s new app includes the following valuable features for a low daily cost:

  • High-Performance Connectivity. Until now, travelers had to purchase expensive international data plans or pay exorbitant roaming charges while traveling abroad. The new iToorer app provides unlimited high-performance connectivity, so the traveler can check email, attend virtual meetings, post on social media, stream videos — anything that requires an Internet connection via secure private network.

Unlike many carriers’ international plans, iToorer will guarantee your high-performance connectivity usage. And because the app is powered by a virtual SIM card, there is no need to physically replace the SIM card in the user’s smartphone. (iToorer also offers less expensive plans that cap data at 1GB or 500 MB per day.)

  • Secure Internet Hotspot. The iToorer app’s capabilities aren’t limited to a single device. The client can share the data using their device’s built-in wireless hotspot. No need to buy international data plans for other members of the family — they can all connect via the principal device’s hotspot. Or the client can share the data plan with their own laptop, tablet, or other device. Like the data on the principal device, the shared hotspot data is secure, high-performance, and unlimited.
  • International and Local Outgoing Calls. International minutes and roaming charges often lead to shocking bills once the traveler returns home. Now, by dialing within the app, travelers can call home or connect with the office, make dinner reservations, contact local friends, and dial into conference calls without paying an additional cent. Moreover, they can still receive calls on their own number while using iToorer’s data services on the virtual SIM card at the same time.

(Coming soon: A later phase of the app will include the option to obtain a local number for incoming calls.)

  • Direct Sales and Communications Channel for Partners. The iToorer app is available exclusively in a B2B2C model, offered to clients by hotels, airlines, travel management companies, loyalty programs, and other suppliers. The app extends the footprint of the partner’s services during the client’s trip and allows them to communicate with a device in the client’s own pocket. The app is white-labeled and can be customized to carry the partner brand’s own logo, fonts, and imagery, and it offers banners that link to content such as menus, spa services, booking engines, etc. Clients can reach the partner directly with a free, one-touch phone call. Notifications can communicate duty-of-care alerts (news events, schedule changes, weather, strikes, etc.) and as a marketing channel for additional revenue opportunities. Depending on the plan chosen, the customer will be charged a daily usage rate, or the partner may offer the app as a value-add. Examples of how a partner might benefit from the iToorer app’s additional revenue and communications channel:
    • Hotel: Promote events, happy hours, F&B discounts, spa services, or offers to extend the stay or book a future stay. Direct calls or links to reception, concierge, in-room dining, F&B outlets, spa, and other departments.
    • Travel Manager: Market additional services such as tours, attraction tickets, restaurant reservations, and more. Contact clients instantaneously to communicate itinerary changes or duty-of-care notifications. Direct call or link to 24-hour support services.
    • Airline: Communicate flight delays and schedule changes. Direct call to customer service or reservations. Promote upgrades, mileage offers, and hotel and car rental bookings. Offer the app as a perk to elite loyalty members and/or premium cabin passengers.
    • Loyalty Program: Promote concierge services. Offer special opportunities to earn or redeem points. Direct call or link to customer service.
    • Car Rental: Promote contract extensions, upgrades, or add-on services. Provide driving directions and a directory of points of interest. Direct connection to roadside assistance or customer service.
  • Essential Features, Travel Content, and Discounts. The iToorer app contains a global, GPS-enabled directory of restaurants, hotels, points of interest, and attractions in over 100 countries worldwide — all constantly refreshed by automatic updates. The app is available in 12 languages and includes an automatic translator offering even more languages. It helps travelers find ATMs, pharmacies, police stations, transportation hubs, and other essential services, and offers hundreds of discounts and vouchers that travelers can use at restaurants, retail stores, tours, museums, and other attractions.

“This new app is an elegant, all-in-one solution for one of the most vexing — and costly — problems that global travelers will face as they return to the road post-pandemic: exorbitant fees for international data roaming plans and international phone calls,” says Diogo Pinto Sousa, Business Developer of iToorer. “The app’s launch is perfectly timed for the rise of the ‘digital nomad’ lifestyle, allowing employees to stay in touch with colleagues and attend virtual meetings while on the road.”

The app is priced well below the global data plans offered by the major cellular carriers. For partners, there is no upfront investment required, and iToorer shares the revenue generated.

About iToorer:

iToorer is an IT group created in 2015 to provide a range of web-based mobile products and services. Headquartered in Ireland, with a main operational base in Porto, Portugal, and the U.S., the group successfully developed a customized mobile device for the corporate and leisure traveler, ensuring the best travel experience while adding value and competitive advantages to the most demanding customers of the travel and tourism industry. This device has been used by over 10 million travelers in Europe and North America.

Media Contacts:

Peter Bates, Founder & President, Strategic Vision Inc.

T: 914.881.9050

C: 914.319.5602                               

pjb@strategicvision.org

Diogo Pinto de Sousa, Business Developer, iToorer

T: 954.398.1412

diogo.sousa@itoorer.com

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Delphix Appoints Josh Harbert as Chief Marketing Officer

Harbert Brings Decades of Expertise in Marketing for High-Growth Tech Companies

REDWOOD CITY, Calif., Sept. 16, 2021 (GLOBE NEWSWIRE) — Delphix, the industry leading data company for DevOps, today announced the appointment of Josh Harbert as Chief Marketing Officer. Harbert will be responsible for building a world-class marketing organization, accelerating pipeline generation, amplifying product and brand awareness, and increasing customer engagement with Delphix.

“Josh’s analytical and revenue-focused leadership, combined with his proven track record in enabling technology companies to grow market share aggressively, will be a great asset as we continue to execute on our large market opportunity,” said Steven Chung, President, Worldwide Field Operations, at Delphix.

A results-oriented leader, Harbert brings more than two decades of marketing experience at high-growth companies with a particular focus on pipeline generation, account-based marketing growth strategies, scaling marketing teams and technology stacks, customer marketing, and executive engagement.

Harbert’s marketing leadership experience spans tenures at Apptio, Qumulo, and most recently, Tanium. While at Apptio, he was instrumental in the company’s growth from an early stage through IPO and an eventual $2B sale to private equity in 2019.

In addition to leading a global marketing organization, he led a team responsible for developing standards and validated best practices to help IT executives communicate the cost, quality, and value of IT investments to their business partners. This established a new category and community with thousands of IT leaders.

“Delphix’s unique DevOps approach to modern security and compliance issues is a game-changer for businesses in every sector,” said Harbert. “Our solutions unlock the power of data and drive innovation for some of the largest global brands. I’m excited to lead the marketing team at Delphix and create opportunities to share compelling customer stories, grow our brand awareness, and make sure every CIO and application development leader embraces the Delphix DevOps Data Platform.”

Harbert becomes the latest in a series of executive appointments for Delphix, following the news that HashiCorp CEO, David McJannett, has joined its Board of Directors, Tammi Warfield joined as SVP of Customer Success, Steve Barrett joined as SVP of International Operations, and Pritesh Parekh joined as Chief Trust & Security Officer, and VP of Engineering.

About Delphix
Delphix is the industry leading data company for DevOps.

Data is critical for testing application releases, modernization, cloud adoption, and AI/ML programs. We provide an automated DevOps data platform for all enterprise applications. Delphix masks data for privacy compliance, secures data from ransomware, and delivers efficient, virtualized data for CI/CD.

Our platform includes essential DevOps APIs for data provisioning, refresh, rewind, integration, and version control. Leading companies, including UKG, Choice Hotels, J.B. Hunt, and Fannie Mae, use Delphix to accelerate digital transformation. For more information, visit www.delphix.com or follow us on LinkedIn, Twitter, and Facebook.

For more information, contact:
Aarthi Rayapura
Director, Editorial & Content
aarthi.rayapura@delphix.com

Colt Commits to Achieving Global Net Zero Emissions by 2030

LONDON, England, Sept. 16, 2021 (GLOBE NEWSWIRE) — Colt Group, comprising Colt Technology Services and Colt Data Centre Services (DCS), today announces its commitment to achieving global net zero carbon for all its own operations by 2030. As a key player in the technology industry, this forms part of its ambitious journey to accelerate the transition to a zero-carbon economy through developing new and existing technologies.

Read more here.

Colt has set comprehensive, science-based emissions reduction targets approved by the Science-Based Targets Initiative (SBTi). It will reduce its Scope 1 and Scope 2 emissions by 46% by 2030 and work closely with suppliers to significantly reduce Scope 3 emissions throughout its supply chain, to limit global warming to well below 2°C by 2030. The move is embedded in the Group’s sustainability strategy, which is core to its DNA and future business strategy.

“As a business, we understand the urgency of taking action to drive positive changes in the technology industry and take full accountability for our emissions,” said Keri Gilder, CEO at Colt Technology Services. “Colt’s goal line is clear: we aim to become a market leader in sustainability by not only reducing our own emissions but also assisting our customers in their own sustainability journeys.”

The extensive targets Colt Group has set include:

  • 75% renewable electricity for all sites globally by 2023
  • 93% of supply chain emissions aligned to 1.5C SBT by 2025
  • 38% electric vehicles in company fleet by 2025 and 75% by 2030
  • 100% switch to renewable gas by 2030

Colt’s climate strategy will focus on internal carbon reductions across its operations and services. This will mean measuring and disclosing the Group’s climate impact and reducing carbon emissions in line with what science says is needed. Any emissions the Group cannot reduce, it will finance through high-integrity carbon removal offsetting.

“Our business has a substantial impact on the planet, and I am delighted that we are embarking on our journey to achieve global net zero carbon emissions for all of our operations at Colt DCS by 2030,” continued Niclas Sanfridsson, CEO at Colt Data Centre Services. “This is just the beginning, our sustainability strategy will continue to ensure we are a partner of choice for the biggest hyperscale customers in the world.”

About Colt

Colt strives to transform the way the world works through the power of connectivity – taking what’s always been in its DNA to enable customers’ success. The Colt IQ Network connects more than 900+ data centres and over 29,000 on net buildings across Europe, Asia and North America’s largest business hubs.

For more information, please visit www.colt.net.

Press Contact: Nola Pocock

nola.pocock@colt.net


About Colt DCS

Colt Data Centre Services provide true service and operational excellence in the design, build, delivery and operational management of hyperscale data centres and hybrid cloud solutions to our customers across Europe and Asia Pacific. For more information please visit www.coltdatacentres.net

Press Contact: Adeela Mahmood

adeela.mahmood@colt.net

This content was issued through the press release distribution service at Newswire.com.

Seoul to start branding K-Beauty, announced at Newsis K-Expo 2021

The Seoul Beauty Industry Branding Conference ‘2021 NEWSIS K-Expo’

[Seoul – NEWSIS] Park Dae-woo, Seoul Economic Job Planning Officer, speaks at the Seoul Beauty Industry Branding Conference ‘2021 NEWSIS K-Expo’, which was broadcast on the NEWSIS YouTube channel (https://www.youtube.com/c/NewsisTV) from 5pm on the 16th. From left, Kim Byeong-gyu, Professor at Yonsei University Business School; Park Dae-woo, Economic Job Planning Officer; Lee Jin-pyo, Head of Amorepacific Group Strategic Division; Lee Jae-ran, president of the Foundation of Korea Cosmetic Industry Institute; Kyung-ah Han, secretary general of the Visit Korea Committee; and Risabae, Global Beauty Creator.

SEOUL, South Korea, Sept. 16, 2021 (GLOBE NEWSWIRE) — At the ‘City Seoul, Branding K-beauty’ conference of ‘2021 NEWSIS K-Expo’, which was broadcast on YouTube from 5 pm KST on 16th of September, overseas panels who participated online and domestic panels who participated offline came up with plans for K-Beauty to grow along with the Korean Wave after the Covid-19 pandemic.

James Chang, CEO of Lazada Singapore, emphasized, “We would like to meet more Southeast Asian customers and introduce a variety of products by introducing K-beauty.”

It is all because he is focusing on the Korean Wave. Looking at the market share of beauty products in Southeast Asia, South Korea surged from 8.9% in 2016 to 11% last year. Lazada introduced ‘Laz Korea’, a Korean product specialty store, and introduced Hallyu star ‘Hyun Bin’ as a publicity ambassador.

Jan Geweise, a senior researcher at the Consumer Business Insights team at Statista, a German market research institute, said, “The potential of the Korean beauty industry is very large after the pandemic; K-beauty exports will continue to grow.”

Domestic beauty experts ordered industry innovation measures to prepare for the post-pandemic. They also poured out policy suggestions for the Seoul Metropolitan Government and the government.

Jinpyo Lee, Head of Strategic Division in Amorepacific Group said, “Just as we created a new category called ‘cushion’ and spread a new makeup method and culture that is different from the existing ones, we planted an image of leading K-beauty innovation to consumers around the world through innovative products.”

“From now on, the Seoul Metropolitan Government should organize and share information on areas of common interest, such as eco-friendliness, and gather wisdom to create a place where Beauty Seoul can succeed and provide continuous support.”

Creator Risabae, who has 2.24 million YouTube subscribers, said, “In the past, overseas viewers mainly responded to cover makeup videos of domestic and foreign celebrities, but now they are showing a lot of interest in everyday makeup styles. I feel a growing interest in K-beauty styles that bring out their natural beauty.”

Kyung-ah Han, secretary general of the Visit Korea Committee, said, “If you pick 10 brands that first come to mind when you think of ‘South Korea’, Samsung is the first, but 6 cosmetic brands are included in the top 10. Products, exports, and sales are important, but if we provide tourists with opportunities to experience K-beauty, we will be able to secure loyal customers.”

Jae-ran Lee, president of the Foundation of Korea Cosmetic Industry Institute, also said, “The Korean cosmetic industry is developing innovative products in a short time and leading the global trend as the Korean Wave. I hope that it will develop in a way that meets the needs of overseas customers by continuing to produce innovative products that combine eco-friendliness and hyper-personalization.”

Dae-woo Park, head of the Seoul Economic and Job Planning Office, said, “Seoul is the largest place in the country with the largest share of sales in the Hair&Skin beauty industries in the country. The city of Seoul plans to foster and support the beauty industry and create a city full of beautiful charm by converging excellent infrastructure.”

Newsis K-Expo started in 2019 and this is the 3rd time. It is an event to explore the sustainability of the Korean Wave, encompassing not only culture such as music, TV dramas, and movies, but also industries such as beauty, F&B, and tourism.

K-pop group ‘Seventeen’ won the Korean Wave Culture Awards. Hugel, Lotte World Tower, Amorepacific, OB Beer won the Korean Wave Corporate Awards. K-pop group ‘Loona’ and ‘Kingdom’ held a celebratory performance.

Contact : Kim, Jeong-Hwan, ace@newsis.com +82-2-721-7436

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a661dd3a-91c2-40d6-bc0e-79f0fd3901a3

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

Seoul Mayor says, “We will make the beauty industry a strong growth engine for Seoul” at Newsis K-Expo 2021

Seoul Mayor Oh Se-hoon gives a keynote speech at the ‘2021 Newsis K-Expo’

[Seoul-NEWSIS] Seoul Mayor Oh Se-hoon gives a keynote speech at the ‘2021 Newsis K-Expo’ which was broadcast on the Newsis YouTube channel at 5pm KST on 16th of September.

SEOUL, South Korea, Sept. 16, 2021 (GLOBE NEWSWIRE) — Seoul Mayor Oh Se-hoon said, “We will make the beauty industry a strong growth engine for Seoul. We are establishing specific action plans for nurturing related infrastructures.”

Mayor Oh delivered a keynote speech at ‘The NEWSIS K-Expo 2021: Seoul Beauty Industry Branding Conference’, which was broadcast on the NEWSIS YouTube Channel (https://www.youtube.com/c/NewsisTV) from 5pm KST on 16th of September. He announced “the number one task given to Seoul is to raise the competitiveness of the city that has fallen and take another leap forward to become one of the top five global cities.

He also emphasized that he has established a future roadmap ‘Seoul Vision 2030’ in order to implement this task. One of the key points of the vision is ‘Seoul, the future emotional city.’

“The domestic beauty industry that has become a new Korean cultural content is something Seoul is paying attention. It is all about making Seoul a global emotional city that everyone wants to visit, live, and invest,” he said.

Mayor Oh evaluated the beauty industry as “a future industry that is expected to grow continuously in line with a new consumption trend oriented toward sensibility and well-being, and a high value-added job industry”.

He said, “South Korea’s cosmetics exports amounted to about 8,287.7 billion won as of last year, up 16% from the previous year, and it has emerged as the world’s third-largest cosmetics powerhouse after France and the United States.”

“Seoul has an excellent environment with great potential to grow into a global beauty city, as 45.7% of domestic cosmetics retailers as well as the headquarters of four Korean cosmetics companies ranked in the world’s top 100 cosmetics companies are located in Seoul,” he emphasized.

Mayor Oh also announced plans to promote ‘beauty tourism’ as well.

“If we develop tourism products that add beauty unique to Seoul in addition to the charm of Seoul known to the world through Korean Culture, such as K-pop and K-drama, the demand for domestic and foreign tourists visiting Seoul will steadily increase. We are deriving detailed tasks through consulting with specialized agencies in order to promote systematic beauty tourism.”

As specific measures, Mayor Oh suggested the development of various tourism products and travel courses related to beauty, and collaboration with beauty creators and beauty flagship stores.

“In particular, Dongdaemun Special Fashion Zone, which has earned a reputation as ‘Korea Fashion No.1’, is expected to be reborn as a ‘Dongdaemun Beauty Special Zone’ where various things to see, enjoy, and new vitality arise. If beauty and Hallyu (Korean Culture) momentum are added to the various fashion and design contents of the Dongdaemun area, it can lead domestic and foreign tourists to Dongdaemun again.”

Mayor Oh showed confidence in making Seoul a future world-centered beauty city.

“We will increase the future growth potential of Seoul as a global beauty center and brand Seoul’s sensibility and beauty that encompasses Seoul’s culture, taste, smell, and landscape.

“We will create a new brand in Seoul. ‘If you want to see the latest global beauty trends, go to Seoul.’”

Newsis K-Expo started in 2019 and this is the 3rd time. It is an event to explore the sustainability of the Korean Wave, encompassing not only culture such as music, TV dramas, and movies, but also industries such as beauty, F&B, and tourism.

K-pop group ‘Seventeen’ won the Korean Wave Culture Awards. Hugel, Lotte World Tower, Amorepacific, OB Beer won the Korean Wave Corporate Awards. K-pop group ‘Loona’ and ‘Kingdom’ held a celebratory performance.

Contact: Kim, Jeong-Hwan, ace@newsis.com +82-2-721-7436

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/71e46243-3f36-4452-84de-f5d029beb52b

 


Copyright © 2021 GlobeNewswire, Inc.

Sweegen Delights China’s Consumers With Premiumization of Low-Calorie Confectionery Chocolate

Rancho Santa Margarita, Calif., Sept. 16, 2021 (GLOBE NEWSWIRE) — As Asia-Pacific’s chocolate market diversifies and consumer tastes gravitate to sophistication, Sweegen has expanded its footprint into China by formulating premium low-calorie confectionery chocolate for the brand TeChoco.“Sweegen has demonstrated the near-impossible task of formulating low-calorie great-tasting confectionery chocolate products with low to no sugar,” said SVP, Head of Global Innovation, Shari Mahon. “Now, consumers can enjoy premium chocolates with high-quality and health-conscious ingredients without the guilt and negative health benefits from sugar.”

Formulating chocolate confectionery products is complex. In addition to innovating around interesting textures, desirable flavors, and attractive colors, the biggest challenge in formulating confectionery chocolate is bitterness. The higher percentage of cocoa in products is typically met with more bitterness and less sugar, but healthier.

“Taste modulation is an ideal option for product developers specializing in health and wellness confectionery chocolate to resolve the impression of bitter off-notes and controlling sweetness and lingering after-tastes,” said Mahon. “Texture can improve mouthfeel and help to elevate the indulgent appeal of chocolate.”

According to Mintel, more than half of Chinese consumers buy confectionery chocolate to treat themselves. Even though consumers in China seek to experience indulgence in their sweet snacks, they are mindful of maintaining a good weight, health, and wellness. Sugar intake is anticipated to decrease as a health and wellness goal in the “Healthy China 2030” initiative is to reduce sugar consumption by at least 17 percent. Yet, health problems linked to obesity and diabetes are of concern to government health officials because China consumes approximately 15 million tons of sugar annually.

TeChoco confectionery chocolate sales are skyrocketing at more than 2000 retail stores, both online and in brick-and-mortar shops, including powerhouse e-commerce giants TaoBao and DMall, and convenience stores Bianlifeng, and Japan’s Lawson for China. Lawson alone has more than 3,000 stores in China, which are found in and around five major cities.

“TeChoco is on the forefront of innovating better-for-you confections with higher levels of cacao content,” said Mahon. “They are a brand example of health and wellness products for sugar reduction in China, focusing on full solutions for using natural sweeteners in conjunction with taste modulation to drive consumer acceptance on products to mimic the indulgent products they prefer and desire.”

As TeChoco sales continue, the products are promising for other Asia-Pacific countries, including Singapore and Malaysia, where Sweegen has its Signature Reb M stevia approval. Sweegen will establish an Asia-Pacific Innovation Studio in Singapore within the next 12 months, where brands can leverage local tastes and explore solutions to create delicious zero-sugar products.

Sweegen anticipates the approval of Reb M in China. With the arrival of a better-tasting natural sweetener, the company foresees the China market developing more products with reduced sugar and consumer-preferred tastes.

Sweegen offers brands cost-effective and rapid innovation sugar reduction solutions. Its robust Taste Modulation portfolio is essential for helping to block bitterness, boost the perception of sweetness, manage a lingering note, enhance mouthfeel, or reduce astringency in confectionery, beverage, dairy, savory, and bakery products.

###

About SweeGen

Sweegen provides sweet taste solutions for food and beverage manufacturers around the world.

We are on a mission to reduce the sugar and artificial sweeteners in our global diet. Partnering with customers, we create delicious zero-sugar products that consumers love. With the best Signature Stevia sweeteners in our portfolio, such as Bestevia® Rebs B, D, E, I, M, and N, along with our deep knowledge of flavor modulators and texturants, Sweegen delivers market-leading solutions that customers want, and consumers prefer.

For more information, please contact info@sweegen.com and visit Sweegen’s website, www.sweegen.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener. These statements are based on current expectations but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of Sweegen, Inc.

Relevant risks and uncertainties include those referenced in the historic filings of Sweegen, Inc. with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements, and therefore should be carefully considered. Sweegen, Inc. assumes no obligation to update any forward-looking statements due to new information or future events or developments.

This press release contains forward-looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener. These statements are based on current expectations but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of Sweegen, Inc.

Relevant risks and uncertainties include those referenced in the historic filings of Sweegen, Inc. with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking state.

 

Attachments

Ana Arakelian
Sweegen
+1.949.709.0583
ana.arakelian@sweegen.com

New research finds USD billions to coal power projects in Africa, Asia jeopardizing energy access, climate agendas

Coal Finance in High-Impact Countries

Finance Commitments for Grid-Connected Coal in High-Impact Countries (USD Million)

Chinese state-owned institutions, world’s largest banks continue to finance coal power in countries with greatest needs for electricity access; USD 42 billion committed to grid-connected coal power plants between 2013-2019 in 18 countries studied

VIENNA, Austria, Sept. 16, 2021 (GLOBE NEWSWIRE) — New research published today by Sustainable Energy for All (SEforALL) and Climate Policy Initiative (CPI) highlights a troubling trend in the fight against climate change and push to deliver universal electricity access: despite environmental, economic and many other challenges facing coal, pockets of funders continue to finance additional coal-fired generation capacity in South Asia and Sub-Saharan Africa.

The Coal Power Finance in High-Impact Countries knowledge brief, part of SEforALL’s Energizing Finance research series, analyses 18 countries with the largest electricity access gaps (i.e. high-impact countries) to identify those receiving finance for coal-fired power, the sources of this investment, its key drivers and the risks attached.

“The idea of a coal phase-out does not hold true everywhere,” said Olivia Coldrey, Head of Energy Finance and Clean Cooking at SEforALL. “We continue to see significant investment in coal-fired power generation in countries with high rates of energy poverty. These countries need affordable, reliable and clean energy to support their socio-economic development and to mitigate climate change. Financing new coal projects is inconsistent with these objectives and holds back the energy transition.”

From 2013 to 2019, USD 42 billion was committed to grid-connected coal power plants in the 18 countries studied. Among them, Bangladesh, India and Pakistan received the majority of finance commitments to new coal plants, while in Africa, Madagascar, Mozambique, Malawi, Niger and Tanzania all host active coal plant development.

International finance accounted for the majority of the USD 42 billion, with Chinese financial institutions accounting for 40 percent of the total.

With South Korea and Japan recently announcing they will stop financing new coal plants overseas, China remains the last major source of international public coal finance not to have committed to ending finance for overseas coal plants. This stands in contrast with China’s domestic energy policy, which is prioritizing a transition to renewable energy, peak emissions before 2030 and a net-zero economy by 2060.

Of course, China is not the only culprit. Commercial financial institutions worldwide continue to support coal power plant development indirectly, despite having implemented policies to exclude direct financing of new coal-fired generation assets. From 2016 to 2020, the 38 banks that exclude direct finance for coal-fired power plants have nonetheless provided over USD 52 billion in finance to companies engaged in coal projects (Rainforest Action Network 2021).

In addition to hampering global efforts to curb carbon emissions and achieve net-zero by 2050, coal power finance carries substantial socio-economic risks for the countries that host projects, leading increasingly to stranded assets. The brief demonstrates how infrastructure constraints and lower than expected demand in Bangladesh and Pakistan have resulted in underutilization and, in some cases, switching off of newly commissioned coal-fired power plants.

The world’s 20 least-electrified countries by percentage of population without electricity are all in Sub-Saharan Africa. Should Sub-Saharan African nations continue to develop new coal-fired power generation capacity, they are likely to face similar challenges and costs to those seen in Bangladesh and Pakistan. The long development timelines associated with coal plants and their supporting infrastructure will further slow the closing of electricity access gaps.

The brief makes the case that distributed renewable energy generation provides the fastest and most efficient path to increased electricity access in the near-term. It recommends a paradigm shift from centralized coal to distributed renewable energy generation to rapidly expand electricity access in high-impact countries, not only for residential household use, but at access tiers that support economic growth.

Ahead of this year’s UN High-level Dialogue on Energy and COP26, the brief recommends a reevaluation of the current geography-based carbon accounting system, which allocates emissions to countries based on their physical origin. Instead, implementing a finance-based carbon accounting regime would force policymakers to consider the impact of domestic capital on cross-border emissions and push private investors to align their portfolios with the net-zero ambitions they support.

The full knowledge brief is available here.

Contact:

For further details on the reports or any interview requests, please contact: Sherry Kennedy, Sustainable Energy for All: Sherry.Kennedy@SEforALL.org / Media@SEforALL.org | +43 676 846 727 237

About Sustainable Energy for All

Sustainable Energy for All (SEforALL) is an international organization that works in partnership with the United Nations and leaders in government, the private sector, financial institutions, civil society and philanthropies to drive faster action towards the achievement of Sustainable Development Goal 7 (SDG7) – access to affordable, reliable, sustainable and modern energy for all by 2030 – in line with the Paris Agreement on climate. SEforALL works to ensure a clean energy transition that leaves no one behind and brings new opportunities for everyone to fulfill their potential.

SEforALL is led by Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy. Follow her on Twitter @DamilolaSDG7. For more information, follow @SEforALLorg.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cf6d4908-27d4-4196-8798-32f3be6c2481


Copyright © 2021 GlobeNewswire, Inc.