Tag: Pakistan

Dover, DE, Nov. 09, 2023 (GLOBE NEWSWIRE) — / Pacific Green Technologies, Inc. (“Pacific Green”), (OTCQB: PGTK) announces that Pacific Green Technologies (Australia) Pty Ltd., a wholly owned subsidiary of Pacific Green, has entered into an exclusivity agreement to secure a strategically located land site in Limestone Coast, South Australia to develop a 0.5 GW / 1.0 GWh battery energy park (the “Project”).

The Project will commence construction in 2024, with the energy park anticipated to be operational in 2026. When completed it will be the largest battery park in South Australia, connecting directly into an existing 275 kVA substation.

The Project will deliver a major increase in energy storage capacity in South Australia, reducing wholesale energy costs for the state, while also strengthening the region’s energy stability for communities and supporting South Australia’s net-zero transition.

Joel Alexander, Pacific Green’s Managing Director, Australia, commented: “We are excited to grow our portfolio into South Australia, which already has the highest adoption of renewable generation of all states in Australia. Our Limestone Coast Battery Energy Park can act as a load during the day, increasing the viability of even more solar and wind generation, whilst shifting energy to the times it is most valuable in the evening peak. This momentum allows us to accelerate progress towards South Australia achieving 100% net renewables by 2030.

Scott Poulter, Pacific Green’s CEO, added: “Coupled with our energy parks in Portland, Victoria, this agreement cements Pacific Green’s multi-gigawatt platform that will be deployed across Australia in the coming months and years.”

About Pacific Green Technologies, Inc.:

Pacific Green is focused on addressing the world’s need for cleaner and more sustainable energy. It offers grid-scale battery energy storage systems, renewable and environmental technologies.

For more information, visit Pacific Green’s website:
www.pacificgreen.com

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continued development of the Project, any potential business developments and future interest in Pacific Green’s battery, solar and environmental technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the continuation of the development of the Project, general economic and political conditions. These forward-looking statements are made as of the date of this news release, and Pacific Green assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Pacific Green believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in Pacific Green’s annual report on Form 10-K for the most recent fiscal year, Pacific Green’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Scott Poulter, Chairman & CEO
Pacific Green Technologies, Inc.
T: +1 (302) 601-4659

Joel Alexander, Managing Director
Pacific Green Technologies (Australia) Pty Ltd.
T: +61 497 335 833

GlobeNewswire Distribution ID 8976395

Nyxoah Reports Third Quarter 2023 Financial and Operating Results
Partners with ResMed Germany to increase OSA awareness and therapy penetration

Mont-Saint-Guibert, Belgium – November 8, 2023 10:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today reported financial and operating results for the third quarter of 2023.

Recent Financial and Operating Highlights

• Filed the third module in the modular PMA submission.
• Accelerated U.S. pre-commercialization efforts, focused on market access around CPT coding.
• Initiated a commercial partnership with strategic investor ResMed in Germany. This collaboration introduces a novel continuum of care into the German OSA market.
• Reported third-quarter sales of €1.0 million and ended the quarter with 46 active German accounts.
• Ended the quarter with a cash position of €72.5 million, providing an anticipated cash runway into late 2024.

“Nyxoah is entering one of the most exciting times in the company’s history. We will report data from our DREAM U.S. pivotal trial early next year, shortly thereafter complete our modular PMA submission, and expect FDA approval late 2024,” commented Olivier Taelman, Chief Executive Officer. “Hypoglossal nerve stimulation (HGNS) remains highly underpenetrated and guiding patients through their OSA journey is key to unlocking the market’s potential. Our agreement with ResMed Germany, which takes ResMed from a valued investor to commercial partner, creates a continuum of care that directs patients towards the appropriate treatment, resulting in greater therapy penetration.”

CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS (unaudited)
 (in thousands)

			For the three months ended September 30						For the nine months ended September 30
					2023		2022		2023	2022
Revenue					€ 976		€ 182		€ 2,524			€ 1,777
Cost of goods sold					( 336)		( 63)		( 930)			( 685)
Gross profit					€ 640		€ 119		€ 1,594			€ 1,092
Research and Development Expense					(6,568)		(4,221)		(19,330)			(11,286)
Selling, General and Administrative Expense					(5,058)		(4,763)		(16,794)			(13,492)
Other income/(expense)					−		87		265			237
Operating loss for the period					€ (10,986)		€ (8,778)		€ (34,265)			€ (23,449)
Financial income					2,178		5,127		3,592			11,372
Financial expense					(1,033)		(2,524)		(2 765)			(5,473)
Loss for the period before taxes					€ (9,841)		€ (6,175)		€ (33,438)			€ (17,550)
Income taxes					2,229		(65)		1,119			( 379)
Loss for the period					€ (7,612)		€ (6,240)		€ (32,319)			€ (17,929)
Loss attributable to equity holders					€ (7,612)		€ (6,240)		€ (32,319)			€ (17,929)
Other comprehensive loss
Items that may be subsequently reclassified to profit or loss (net of tax)
Currency translation differences					( 10)		100		( 88)			( 14)
Total comprehensive loss for the year, net of tax					€ (7,622)		€ (6,140)		€ (32,407)			€ (17,943)
Loss attributable to equity holders					€ (7,622)		€ (6,140)		€ (32,407)			€ (17,943)
Basic Loss Per Share (in EUR)					€ (0.266)		€ (0.242)		€ (1.166)			€ (0.695)
Diluted Loss Per Share (in EUR)					€ (0.266)		€ (0.242)		€ (1.166)			€ (0.695)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (unaudited) (in thousands)
							As at
							September 30 2023					December 31 2022
ASSETS
Non-current assets
Property, plant and equipment							4,328			2,460
Intangible assets							45,720			39,972
Right of use assets							3,602			3,159
Deferred tax asset							47			47
Other long-term receivables							668			173
							€ 54,365			€ 45,811
Current assets
Inventory							1,709			882
Trade receivables							1,918			1,463
Other receivables							2,437			1,775
Other current assets							1,683			1,284
Financial assets							59,239			76,968
Cash and cash equivalents							13,250			17,888
							€ 80,236			€ 100,260
Total assets							€ 134,601			€ 146,071
EQUITY AND LIABILITIES
Capital and reserves
Capital							4,926			4,440
Share premium							246,130			228,275
Share based payment reserve							7,468			5,645
Other comprehensive income							88			176
Retained loss							(150,070)			(118,212)
Total equity attributable to shareholders							€ 108,542			€ 120,324
LIABILITIES
Non-current liabilities
Financial debt							8,407			8,189
Lease liability							2,990			2,586
Pension liability							75			−
Provisions							125			59
Deferred tax liability							6			−
							€ 11,603			€ 10,834
Current liabilities
Financial debt							769			388
Lease liability							788			719
Trade payables							4,480			4,985
Current tax liability							2,367			3,654
Other payables							6,052			5,167
							€ 14,456			€ 14,913
Total liabilities							€ 26,059			€ 25,747
Total equity and liabilities							€ 134,601			€ 146,071

Revenue

Revenue was €1.0 million for the third quarter ending September 30, 2023, compared to €182,000 for third quarter ending September 30, 2022.

Cost of Goods Sold

Cost of goods sold was €336,000 for the three months ending September 30, 2023, representing a gross profit of €640,000, or gross margin of 66.0%. This compares to total cost of goods sold of €63,000 in the third quarter ending September 30, 2022, for a gross profit of €119,000, or gross margin of 65.4%.

Research and Development Expenses

Research and development expenses were €6.6 million for the three months ending September 30, 2023, versus €4.2 million for the prior year period, driven by an acceleration in clinical activities, notably the start of the ACCCESS study.

Selling, General and Administrative Expenses

Selling, general and administrative expenses rose to €5.1 million for the third quarter of 2023, up from €4.8 million in the third quarter of 2022. This was due primarily to increased commercial efforts in Germany and other European markets, as well as investments in Nyxoah’s corporate infrastructure. The Company expects to continue adding headcount across the organization ahead of the U.S. commercial launch.

Operating Loss

Total operating loss for the third quarter 2023 was €11.0 million versus €8.8 million in the third quarter of 2022. This was driven by the acceleration in the Company’s R&D spending, as well as ongoing commercial and clinical activities.

Cash Position
As of September 30, 2023, cash and financial assets totaled €72.5 million, compared to €94.9 million on December 31, 2022. Total cash burn was approximately €4.0 million per month during the third quarter of 2023.

Third Quarter 2023 Report
Nyxoah’s financial report for the third quarter 2023, including details of the consolidated results, are available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

Conference call and webcast presentation
Nyxoah will conduct a conference call open to the public today at 10:30pm CET / 4:30pm ET. A webcast of the call will be accessible via the Investor Relations page of the Nyxoah website or through this link: Nyxoah’s Q3 2023 earnings call webcast. For those not planning to ask a question of management, the Company recommends listening via the webcast.

If you plan to ask a question, please use the following link: Nyxoah’s Q3 2023 earnings call. After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, the Company suggests registering a minimum of 10 minutes before the start of the call.

The archived webcast will be available for replay shortly after the close of the call.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; and the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission (“SEC”) on March 22, 2023, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

Attachment

• ENGLISH_Q3 2023 Earnings PR_FINAL

GlobeNewswire Distribution ID 1000898348

Jetex and Shell Aviation bring sustainable aviation fuel (SAF) to the flagship private terminal in Dubai.

Dubai, United Arab Emirates, Nov. 08, 2023 (GLOBE NEWSWIRE) — Jetex, a global leader in executive aviation, is the first to offer SAF to customers in the United Arab Emirates. Building on the success of supplying SAF at selected locations in Europe, Jetex will now offer aircraft operators and private owners the possibility of significantly reducing emissions whenever they operate flights from its flagship private terminal in Dubai.

“Bringing SAF to the United Arab Emirates is a milestone achievement, and today I am pleased that we finally can offer this type of aircraft fuel to our customers in Dubai in partnership with Shell Aviation. It is even more important in light of 2023 being announced as the Year of Sustainability in the UAE as it cements our  ambition to reduce carbon emissions”, said Adel Mardini, Founder & CEO of Jetex.

As a safe and fully certified drop-in fuel compatible with existing aircraft fleet and airport infrastructure, SAF can be blended with conventional jet fuel at a ratio of up to 50%, creating an aviation fuel that is significantly lower in lifecycle carbon emissions. In its neat form, SAF can reduce lifecycle emissions by up to 80% compared to conventional jet fuel.

Doris Tan, General Manager Asia and Middle East, Shell Aviation, said: “To reduce emissions from flying, all parts of the aviation value chain need to play their part. This is particularly crucial for private business customers as they can create a concentrated, high-impact demand for SAF. Additionally, expanding the availability of SAF to new locations is equally important, which is why it’s been highly rewarding to work with Jetex to enhance our SAF capabilities in the Middle East by delivering SAF at DWC for the first time.”

Jetex’s environment strategy focuses on reducing carbon emissions, recycling and adapting the latest green technologies across its global network. The company’s efforts are aligned with IATA’s commitment to fly net zero by 2050 and achieving this requires a combination of maximum elimination of emissions at the source, offsetting and carbon capture technologies.

It is vital for the future of aviation to continue to address climate change and Jetex remains focused on playing its part to reduce the impact on the planet.

About Jetex:

An award-winning global leader in executive aviation, Jetex is recognized for delivering flexible, best-in-class trip support solutions to customers worldwide. Jetex provides exceptional private terminals (FBOs), aircraft fueling, ground handling and global trip planning. The company caters to both owners and operators of business jets for corporate, commercial and personal air travel. To find out more about Jetex, visit jetex.com and follow us on Instagram, Twitter, Facebook and LinkedIn.

Attachment

• JETEX & SHELL AVIATION SIGN AGREEMENT

Oleg Kafarov - Vice President of Brand & Corporate Communications
Jetex
+971 4 212 4900
teamorange@jetex.com

GlobeNewswire Distribution ID 8975124

Mont-Saint-Guibert, Belgium – November 7, 2023, 10:30pm CET / 4:30pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced that the Company will participate in the Jefferies London Healthcare Conference, which takes place November 14 – 16, 2023 in London.

Olivier Taelman, Nyxoah’s Chief Executive Officer, will deliver a corporate update on Wednesday, November 15, 2023, at 5:00pm GMT. A webcast of the presentation will be available on the Events section of Nyxoah’s Investor Relations website. The Company will also be available for 1×1 meetings with institutional investors attending the event.

Nyxoah’s Investor Presentation can be accessed on the Shareholder Information section of the Company’s Investor Relations page.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Contact:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

Attachment

• ENGLISH_Nyxoah to Participate in the London Healthcare Conference_FINAL

GlobeNewswire Distribution ID 1000898171

Dover, DE, Nov. 07, 2023 (GLOBE NEWSWIRE) — Pacific Green Technologies, Inc. (“Pacific Green”, OTCQB: PGTK) announces that it has entered into a transaction to sell 100% of the shares in Pacific Green Battery Energy Parks 2 Limited (“PGBEP2”) to Sosteneo Fund 1 HoldCo S.à.r.l. (“Sosteneo HoldCo”) for £210 million (US$258 million) (the “Transaction”).

PGBEP2 is the holding company for 100% subsidiary, Sheaf Energy Limited, Pacific Green’s 249 MW / 373.5 MWh battery energy storage system in Kent, England (“Sheaf Energy Park”), which will begin commercial operations in July 2025.

Sosteneo HoldCo is an investment vehicle for the Sosteneo Energy Transition Fund, managed by Sosteneo SGR S.p.A. (“Sosteneo”), a specialist manager of greenfield infrastructure projects related to the energy transition and part of the Generali ecosystem of asset management firms.

Under the terms of the Transaction, Pacific Green and Sosteneo have granted each other respective options to buy or sell the shares in PGBEP2.

As part of the Transaction, Sosteneo will provide a capital expenditure loan, which together with the senior debt facility, will fully fund the development and construction of Sheaf Energy Park.

About Pacific Green Technologies, Inc.:

Pacific Green is focused on addressing the world’s need for cleaner and more sustainable energy. Pacific Green offers Battery Energy Storage Systems and Concentrated Solar Power to complement its environmental technologies division. Pacific Green has offices in the USA, Canada, United Kingdom, Australia, Saudi Arabia and China.

For more information, visit Pacific Green’s website:
www.pacificgreen.com

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continued development of Sheaf Energy Park, the continuation of the Transaction, any potential business developments and future interest in Pacific Green’s battery, solar and environmental technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the continuation of the development of Sheaf Energy Park, the continuation of the Transaction and general economic and political conditions. These forward-looking statements are made as of the date of this news release, and Pacific Green assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Pacific Green believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in Pacific Green’s annual report on Form 10-K for the most recent fiscal year, Pacific Green’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

GlobeNewswire Distribution ID 8974156