Category: Press Releases

SOUTHAMPTON, Pa., June 14, 2023 (GLOBE NEWSWIRE) — Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported that on June 7, 2023, the Chairman of the Board of Directors of the Company received notification from Mr. Roger Colley that Mr. Colley will retire from the ETC Board of Directors as of the date of the Company’s upcoming 2023 annual meeting of shareholders. Mr. Colley has served as the Chairman of the Audit Committee since 2011 and is currently a member of the Nominating and Compensation Committees. Mr. Colley’s decision was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

“On behalf of the Board of directors, the management team and our shareholders, we thank Roger for his dedication and service and wish him and his family all the best in the future,” said George K. Anderson, ETC’s Chairman of the Board of Directors and Robert L. Laurent, ETC’s President and CEO.

Forward-looking Statements

This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

Contact: Robert L. Laurent, Jr., CEO
Phone: (215) 355-9100 x1200
Email: rlaurent@etcusa.com

GlobeNewswire Distribution ID 8858509

June 14, 2023

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it will repurchase up to 7.1 million shares to cover certain of its obligations arising from its long-term incentive plans. At the current share price, the shares represent an amount of up to approximately EUR 132 million.

The repurchases will be executed through one or more individual forward transactions, expected to be entered into in the second and/or the third quarter of 2023, in accordance with the Market Abuse Regulation and within the limits of the authorization granted by the company’s General Meeting of Shareholders on May 9, 2023. Philips expects to take delivery of the shares in 2024 and 2025. Further details will be available via this link.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 1521 3446
E-mail: ben.zwirs@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 74,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements

This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

GlobeNewswire Distribution ID 1000825302

SOUTHAMPTON, Pa., June 14, 2023 (GLOBE NEWSWIRE) — Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today announces the appointment of Timothy Kennedy, CPA, CMA as the Company’s Chief Financial Officer and Treasurer, effective today.

Mr. Kennedy, age 54, has extensive experience, including ten years of advisory experience, six years as a Global Controller for a medical device manufacturer, and four years as a Chief Financial Officer for a mid-market manufacturer.

Most recently, Mr. Kennedy was Chief Financial Officer with AES Clean Technology. From 2012 to 2019 Tim was with Johnson & Johnson, in several capacities, from Director SOX Compliance to Finance Director. From 2002 to 2012, Mr. Kennedy was with Synthes Inc., where he served as Global Corporate Controller for six years and Director – Mergers and Acquisitions for four. Mr. Kennedy was with Pricewaterhouse Coopers LLP from 1997 to 2002 and with Deloitte & Touche LLP from 1992 to 1997.

Mr. Kennedy, CPA, CMA has a Bachelor of Science in Business Administration, Accounting (Magna Cum Laude) from Drexel University.

Robert L. Laurent, Jr. ETC’s Chief Executive Officer and President, stated, “Mr. Kennedy’s strong background and experience will be an excellent addition to the ETC management team.”

About ETC:

ETC designs, manufactures, and sells software driven products and services used to recreate and monitor the physiological effects of motion on humans, and equipment to control, modify, simulate and measure environmental conditions. Our products include aircrew training systems (aeromedical, tactical combat, and general), disaster management systems, sterilizers (steam and gas), environmental testing and simulation systems, and other products that involve similar manufacturing techniques and engineering technologies. ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC is headquartered in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.

Forward-looking Statements

This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

GlobeNewswire Distribution ID 8858466

Combining generative AI and property insights, Matterport’s digital twin platform aims to reshape the real estate landscape, optimizing interior design, space utilization, energy efficiency, safety, and accessibility while transforming property marketing strategies.

Matterport Announces Genesis

A Generative AI Initiative to Transform How Buildings are Designed, Built, and Managed

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c8bf89f8-4977-4c5e-be65-5359040b042f

SUNNYVALE, Calif., June 14, 2023 (GLOBE NEWSWIRE) — Matterport, Inc. (Nasdaq: MTTR), today announced Genesis, a new initiative that aims to deliver generative AI across its digital twin platform for customers looking to bolster the efficiency and profitability of their property portfolios worldwide.

Genesis combines Matterport’s stable of deep learning and computer vision innovations including Cortex AI and Property Intelligence, with generative AI to deliver a new generation of digital twins. They will be dynamic in nature: interiors easily removed, redesigned, and presented in dimensionally accurate 3D. New design concepts, operational layouts, and other space utilization requirements will be quickly evaluated and customized for buildings of any size, residential or commercial. The project builds upon Matterport’s decade-long expertise in artificial intelligence and its market-leading 3D spatial data library of more than 30 billion square feet of digitized physical space, to help customers market, manage, and reimagine every type of property across the built world– automatically.

“Matterport has been at the forefront of the digital transformation of the built world for more than a decade, fueled by our early advances in artificial intelligence,” said RJ Pittman, Chairman and CEO of Matterport. “Genesis is the continuation of that strategy to help Matterport and its partners create transformational digital experiences for properties and improve operations in buildings worldwide.”

Genesis (patent pending) will incorporate generative AI across our digital twin platform to dramatically improve operating efficiency and the decision-making process in the property sector. The project will combine Matterport’s valuable property insights with the ability to automatically enhance the design, layout, and utility of a property in dimensionally accurate, photorealistic 3D. Use cases include:

• Interior Design & Space Utilization: Helping homeowners, designers, and property managers reimagine a physical space with automated virtual interior design and staging, including making recommendations for how to optimize the use of these spaces.
• Design & Construction: Making it simpler for homeowners, architects and builders to create more efficient, sustainable and accessible buildings.
• Energy Efficiency: Providing insights on how to reduce energy consumption in buildings, potentially leading to lower energy bills and a smaller carbon footprint.
• Maintenance & Repairs: Proactively surfacing the most common maintenance and repair issues for buildings, along with tips on how to prevent them, helping building owners and managers address issues before they become costly problems.
• Safety & Security: Spotlighting potential safety and security risks for buildings, such as fire hazards or building code violations, along with recommendations for how to address these risks.

“Matterport is highly focused on delivering advanced AI capabilities across the digital twin platform to unlock new capabilities and upend how we manage property and space in the built world. This will greatly simplify property marketing, space planning, construction, property management and maintenance for all of our customers, old and new,” Pittman added.

Matterport has been steadily expanding its AI-first strategy with Cortex AI and Property Intelligence, and the company plans to integrate Genesis innovations across its digital twin platform with early releases expected before the end of 2023. Embracing innovation and customer value through Genesis, Matterport will continue to develop powerful AI to digitize the built world, while helping customers realize new property value for the more than 30 billion square feet of physical space the company has digitized worldwide and counting.

Visit our blog post to learn more about Genesis.

About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking digital twin platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at Matterport.com and visit our Discover page to browse a collection of digital twins captured by our customers

©2023 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners. Patents pending on Genesis and use cases.

Forward Looking Statements

This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products and services offered by Matterport, Inc. (“Matterport”), artificial intelligence capabilities, potential growth opportunities, and Matterport’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “expected,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including the expected benefits of Matterport’s partnerships and Matterport’s ability to implement new artificial intelligence initiatives, business plans, forecasts, and other expectations in the industry in which Matterport competes, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the U.S. Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.

Matterport Media Contact:
Charlie Stager
press@matterport.com

Matterport Investor Contact:
Mike Knapp
ir@matterport.com

GlobeNewswire Distribution ID 8857984

CALGARY, Alberta and VIENNA, Austria , June 14, 2023 (GLOBE NEWSWIRE) — Eavor Technologies Inc. (“Eavor”), the leader in globally scalable geothermal closed-loop technology, has completed the first close of their Series B equity round. OMV AG (“OMV”) leads the round with a €34 million (C$50mm) investment and has entered into a commercial agreement with Eavor to pursue large-scale deployment of Eavor-Loop technology in Europe and beyond.

Follow-on investments from Eavor’s existing partners include bp Ventures, Eversource Energy and Vickers Venture Partners. Concurrently with the raise, Chubu Electric Power has converted its debenture.

The commercial agreement establishes OMV as a key partner with preferred licensing terms, access to services and development support. As a key partner, OMV will be focused initially on the deployment of Eavor-Loop in Austria, Romania, and Germany.

Berislav Gaso, OMV Executive Vice President for Energy, stated: “We are excited about the partnership with Eavor and look forward to apply this next-generation geothermal energy technology to reach our green energy goals.”

John Redfern, President, CEO and Co-Founder at Eavor, stated: “We have been working with OMV for over a year on this partnership and continue to be impressed by their technical expertise and dedication to the energy transition. We look forward to building on this foundation with OMV, to deliver true energy independence, security and autonomy to Europe.”

Eavor, with its project partners, will begin drilling operations at the Eavor-Europe site near Geretsried, Bavaria, Germany this summer. The project is the world’s first commercial implementation of an Eavor-Loop, a showpiece of the zero-emissions heat and power production capabilities of next-generation geothermal.

Robert Winsloe EVP / Origination at Eavor, stated: “The European heat market is a primary focus for Eavor, starting with our projects in Geretsried and Hannover. The Agreement with OMV will supercharge the commercialization of Eavor-Loop and the full decarbonization of district heating and cooling in Europe and beyond.”

National Bank Financial is acting as exclusive financial advisor to Eavor on its Series B financing, while DS Lawyers Canada LLP is acting as exclusive legal advisor.

About OMV Aktiengesellschaft

With Group sales revenues of EUR 62 bn and a workforce of around 22,300 employees in 2022, OMV is amongst Austria’s largest listed industrial companies.

In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Fuels & Feedstock business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the United Arab Emirates. OMV operates around 1,800 filling stations in nine European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2022 amounted to 392 kboe/d. Its activities also include the Low Carbon Business as well as the entire natural gas business.

OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.

OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.

About Eavor Technologies Inc.

Eavor (pronounced “Ever”) is a technology-based energy company led by a team dedicated to creating a clean, reliable, and affordable energy future on a global scale. Eavor’s solution (Eavor-Loop) represents the world’s first truly scalable form of clean, dispatchable, baseload capable, and flexible heat and power. Eavor achieves this by mitigating or eliminating many of the issues that have traditionally hindered geothermal energy. Eavor instead circulates a benign working fluid that is completely isolated from the environment in a closed-loop, through a massive subsurface radiator. This radiator simply collects heat from the natural geothermal gradient of the Earth via conduction. Eavor has been supported by equity investments made by several leading global energy producers, investors, developers, and venture capital funds including Vickers Venture Partners, bp Ventures, Chubu Electric Power, BDC Capital, Temasek, Chevron Technology Ventures, BHP Ventures, Helmerich & Payne, Precision Drilling and now, OMV. info@eavor.com – Eavor.com

GlobeNewswire Distribution ID  8857915