Category: Press Releases

TORONTO, March 22, 2023 (GLOBE NEWSWIRE) —

• Reported quarterly diluted earnings per share of $0.26
• Positive mutual fund net sales of $221 million for the quarter
• Increased quarterly dividend to $0.11 per share

AGF Management Limited (AGF or the Company) (TSX: AGF.B) today announced financial results for the first quarter ended February 28, 2023.

AGF reported total assets under management and fee-earning assets¹ of $41.9 billion compared to $41.8 billion as at November 30, 2022 and $42.0 billion as at February 28, 2022. Year-over-year, the slight AUM decline was driven by market volatility, offset by positive net sales.

“During a time of market uncertainty, we remain focused on providing our clients with consistency when it comes to our performance, our investment approach and our client interactions,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF. “We are well-positioned with a robust platform of global strategies across multiple vehicles and asset classes designed to meet the ever-evolving needs of our clients.”

AGF’s mutual fund gross sales were $982 million for the quarter compared to $989 million in the comparative period. Mutual fund net sales were $221 million compared to $330 million in the comparative period, marking the 10^th consecutive quarter of positive net sales. AGF’s sales have continued to outpace the industry. During the quarter, the industry² reported net redemptions, while AGF mutual funds remained in net sales.

“Given AGF’s solid performance this quarter, we continued to experience strong flows and positive net sales, while leveraging our partnerships,” said Judy Goldring, President and Head of Global Distribution, AGF. “We are seeing success with our sales strategy as we focus on the IIROC channel in Canada and gain momentum through our turnkey asset management programs in the U.S.”

“We take a thoughtful approach to expense management,” added McCreadie. “However, our strong investment performance and continued execution against our sales strategy will have an initial short-term impact on our profitability driven by an increase in success-based expenses.”

1	Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.
2	Total long-term mutual funds in the Canadian mutual funds industry per Investment Funds Institute of Canada (IFIC).

Key Business Highlights:

• AGF announced a 10% increase to its first quarter dividend to $0.11 per share payable on April 21, 2023 to shareholders on record as at April 11, 2023.
• As at February 28, 2023, AGF’s investment performance outperformed its one- and three-year targets (50% and 40% respectively, with 1st percentile being best possible performance) with an average one-year percentile of 36%, up from 56% in 2022, and an average three-year percentile of 33%, up from 46% in 2022.
• The firm’s investment performance spans across a broad range of categories and styles, where 70% and 75% of its strategies outperformed their peers on a 1- and 3-year basis, respectively, based on gross returns (before fees) within the same category.
• Over 60% of AGF’s Series F funds available in Canada managed by AGF Investments Inc. have a 4 or 5-star Overall Morningstar Rating across all asset classes as of February 28, 2023.*
• AGF Investments Inc. was recognized with FundGrade A+® Awards for AGF American Growth Class, AGF Fixed Income Plus Fund, AGF Global Convertible Bond Fund and AGF Global Select Fund.**
• In January, the firm announced new ETF and mutual fund names unified under the AGF brand in order to better reflect the continued integration of AGF’s quantitative and fundamental investing teams.
• W. Robert (Bob) Farquharson has retired from the AGF Board of Directors and has been named Vice-Chairman Emeritus in recognition of his long and successful career at AGF. He first joined AGF in 1963 as an analyst and over a period of 60 years, managed a number of AGF funds and served the company in senior executive and director roles.

Financial Highlights:

• Total net revenue, was $80.1 million for the three months ended February 28, 2023, compared to $81.7 million for the three months ended November 30, 2022, and $89.3 million for the comparative prior year period. The decline was influenced by lower income on Private Capital long-term investments, which can be variable quarter to quarter and impacted by the timing of monetizations and cash distributions.
• Selling, general and administrative costs were $53.0 million for the three months ended February 28, 2023, compared to $49.3 million in 2022. The increase in SG&A was influenced by the continued improvement in investment performance and a 39% increase in the AGF.B share price.
• EBITDA before commissions for the three months ended February 28, 2023 was $27.1 million, compared to $40.0 million in the prior year comparative period.
• Net income for the three months ended February 28, 2023 was $17.6 million ($0.26 diluted EPS), compared to $12.9 million ($0.18 diluted EPS) in the prior year comparative period.

		Three months ended
			February 28,			November 30,			February 28,
	(in millions of Canadian dollars, except per share data)		2023			2022			2022
	Revenues
	Management, advisory and administration fees	$	106.8		$	103.0		$	112.6
	Trailing commissions and investment advisory fees		(33.8)			(32.5)			(35.6)
	Net management, advisory and administration fees1	$	73.0		$	70.5		$	77.0
	Deferred sales charges		1.8			1.8			1.5
	Share of profit (loss) of joint ventures		0.3			0.5			(0.6)
	Other income from fee-earning arrangements		0.7			0.8			0.8
	Fair value adjustments and other income		4.3			8.1			10.6
	Total net revenue1		80.1			81.7			89.3
	Selling, general and administrative		53.0			51.5			49.3
	Deferred selling commissions		–			–			19.3
	EBITDA before commissions1		27.1			30.2			40.0
	EBITDA1		27.1			30.2			20.7
	Net income		17.6			21.6			12.9
	Diluted earnings per share		0.26			0.32			0.18
	Free cash flow1		19.3			24.1			13.3
	Dividends per share		0.10			0.10			0.09

	(end of period)	Three months ended
			February 28,			November 30,			February 28,
	(in millions of Canadian dollars)		2023			2022			2022
	Mutual fund Assets Under Management (AUM)2	$	24,029		$	23,898		$	23,625
	Institutional, sub-advisory and ETF accounts AUM		8,511			8,514			8,751
	Private Wealth AUM		7,252			7,275			7,410
	Private Capital AUM		54			55			69
	Total AUM	$	39,846		$	39,742		$	39,855
	Private Capital fee-earning assets3		2,082			2,077			2,100
	Total AUM and fee-earning assets3		41,928			41,819			41,955
	Mutual fund net sales2		221			251			330
	Average daily mutual fund AUM2		23,782			22,504			24,075

1	Net management, advisory and administration fees, total net revenue, EBITDA before commissions, EBITDA, and free cash flow are not standardized measures prescribed by IFRS. The Company utilizes non-IFRS measures to assess our overall performance and facilitate a comparison of quarterly and full-year results from period to period. They allow us to assess our investment management business without the impact of non-operational items. These non-IFRS measures may not be comparable with similar measures presented by other companies. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in the Management’s Discussion and Analysis available at www.agf.com.
2	Mutual fund AUM includes retail AUM, pooled fund AUM and institutional client AUM invested in customized series offered within mutual funds.
3	Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.

For further information and detailed financial statements for the first quarter ended February 28, 2023, including Management’s Discussion and Analysis, which contains discussions of non-IFRS measures, please refer to AGF’s website at www.agf.com under ‘About AGF’ and ‘Investor Relations’ and at www.sedar.com.

Conference Call

AGF will host a conference call to review its earnings results today at 11 a.m. ET.

The live audio webcast with supporting materials will be available in the Investor Relations section of AGF’s website at www.agf.com or at https://edge.media-server.com/mmc/p/ovjgdyso. Alternatively, the call can be accessed over the phone by registering here or in the Investor Relations section of AGF’s website at www.agf.com, to receive the dial-in numbers and unique PIN.

A complete archive of this discussion along with supporting materials will be available at the same webcast address within 24 hours of the end of the conference call.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm delivering excellence in investing in the public and private markets through its three distinct business lines: AGF Investments, AGF Private Capital and AGF Private Wealth.

AGF brings a disciplined approach focused on providing an exceptional client experience and incorporating sound responsible and sustainable practices. The firm’s investment solutions, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $42 billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

AGF Management Limited shareholders, analysts and media, please contact:

Courtney Learmont
Vice-President, Finance
647-253-6804, InvestorRelations@agf.com

Caution Regarding Forward-Looking Statements

This press release includes forward-looking statements about the Company, including its business operations, strategy and expected financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects,’ ‘estimates,’ ‘anticipates,’ ‘intends,’ ‘plans,’ ‘believes’ or negative versions thereof and similar expressions, or future or conditional verbs such as ‘may,’ ‘will,’ ‘should,’ ‘would’ and ‘could.’ In addition, any statement that may be made concerning future financial performance (including income, revenues, earnings or growth rates), ongoing business strategies or prospects, fund performance, and possible future action on our part, is also a forward-looking statement. Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, business prospects, business performance and opportunities. While we consider these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about our operations, economic factors and the financial services industry generally. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements made by us due to, but not limited to, important risk factors such as level of assets under our management, volume of sales and redemptions of our investment products, performance of our investment funds and of our investment managers and advisors, client-driven asset allocation decisions, pipeline, competitive fee levels for investment management products and administration, and competitive dealer compensation levels and cost efficiency in our investment management operations, as well as general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, technological changes, cybersecurity, the possible effects of war or terrorist activities, outbreaks of disease or illness that affect local, national or international economies (such as COVID-19), natural disasters and disruptions to public infrastructure, such as transportation, communications, power or water supply or other catastrophic events, and our ability to complete strategic transactions and integrate acquisitions, and attract and retain key personnel. We caution that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Other than specifically required by applicable laws, we are under no obligation (and expressly disclaim any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. For a more complete discussion of the risk factors that may impact actual results, please refer to the ‘Risk Factors and Management of Risk’ section of the 2022 Annual MD&A.

*About Morningstar

Morningstar Ratings reflect performance as of February 28, 2023 and are subject to change monthly. The Overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) ratings. For more information see www.morningstar.ca.

© 2023 Morningstar Inc., All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Learn More: https://www.agf.com/en/top-performers/index.jsp

**About the Fundata FundGrade A+ Rating

FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see https://www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.

AGF American Growth Class won in the U.S. Equity CIFSC Category, out of 836 funds. The FundGrade A+ start date was 1/31/2013 and the FundGrade A+ end date was 12/31/2022.

AGF Fixed Income Plus Fund won in the Canadian Fixed Income CIFSC Category, out of 311 funds. The FundGrade A+ start date was 1/31/2013 and the FundGrade A+ end date was 12/31/2022.

AGF Global Convertible Fund won in the High Yield Fixed Income CIFSC Category, out of 191 funds. The FundGrade A+ start date was 1/31/2016 and the FundGrade A+ end date was 12/31/2022.

AGF Global Select Fund won in the Global Equity CIFSC Category, out of 1146 funds. The FundGrade A+ start date was 1/31/2013 and the FundGrade A+ end date was 12/31/2022.

GlobeNewswire Distribution ID 8793070

Freshworks’ extends its Freddy artificial intelligence strategy with the latest GPT large language models

SAN MATEO, Calif., March 22, 2023 (GLOBE NEWSWIRE) — Freshworks Inc. (NASDAQ: FRSH) today announced new GPT-based conversational enhancements to Freshworks’ natively-built AI powered assistant, Freddy. Using OpenAI’s ChatGPT and underlying large language models, the latest generative AI capabilities of Freddy help a wide range of customer-facing professionals work faster, smarter, and more effectively. Customer service agents respond quickly to customers and employees in the right tone, marketers compose more compelling copy in a fraction of the time, and salespeople craft powerful emails that hook in a prospect.

Freddy AI Email Generator

“We’ve made significant investments in our AI strategy over the last five years to enhance agent productivity and their customers’ experience. The newest Freddy updates using the latest in GPT large language models bring even more value to these experiences,” said Prakash Ramamurthy, Chief Product Officer at Freshworks. “We are fundamentally transforming how Freshworks customers will interact with our products through more conversations and fewer clicks.”

Freddy AI Rephraser

Conversational AI will be embedded via Freddy across Freshworks’ entire customer and employee suite of products. Customer support agents will deliver faster issue resolution and have higher quality conversations with customers. Marketers will receive smart customer segmentation and optimized email content to maximize campaign efficacy. Sellers will close more deals through recommendations on opportunities with highest potential.

Today, Freshworks customers participating in the Freddy AI beta programs are able to:

• Summarize Conversations: Support agents using Freshchat can view an automatic summary of customer conversations to gain context, rather than reading through an entire conversation before responding.
• Rephrase Responses: Support agents can replace casual language with more formal and clear responses.
• Autocomplete Content: Support agents can save keystrokes and respond faster to customer inquiries, with predictive sentence completion.
• Generate Articles: Support agents can save time by creating contextual knowledge-base articles and FAQs using generative AI and simple prompts.
• Write Email Copy: Marketers using Freshmarketer, Freshworks’ marketing automation suite, can write better email copy in less time to improve open rates and engagement. Sellers can create personalized emails tailored to individual prospects’ specific needs and pain points.

Freddy AI Summarizer

Learn more about Freshworks’ Freddy and sign up for the new Freshchat beta program here, and Freshmarketer beta program here.

About Freshworks Inc.
Freshworks Inc. (NASDAQ: FRSH) makes business software people love to use. Purpose-built for IT, customer support, and sales and marketing teams, our products empower the people who power business. Freshworks is fast to onboard, priced affordably, built to delight, yet powerful enough to deliver critical business outcomes. Headquartered in San Mateo, California, Freshworks operates around the world to serve more than 60,000 customers including Allbirds, Blue Nile, Bridgestone, Databricks, Klarna, NHS, OfficeMax, and PhonePe. For the freshest company news visit www.freshworks.com and follow us on Facebook, LinkedIn and Twitter.

© 2023 Freshworks Inc. All Rights Reserved. Freshworks and its associated logo is a trademark of Freshworks Inc. All other company, brand and product names may be trademarks or registered trademarks of their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any first parties of Freshworks Inc. or any aspect of this press release.

Media Relations Contact:
Erika Howard
pr@freshworks.com
408-348-1087

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/3e4c5704-5736-456b-aa3b-5c3b0a12eecb

https://www.globenewswire.com/NewsRoom/AttachmentNg/eddbcf79-ec06-409b-8ff1-a559fe56f842

https://www.globenewswire.com/NewsRoom/AttachmentNg/e1c8ce9f-3ca0-48e4-b4f7-723a852fdc06

https://www.globenewswire.com/NewsRoom/AttachmentNg/8a28042a-551e-4533-a7c5-7a995ff04385

GlobeNewswire Distribution ID 8793378

The partnership strengthens its commitment to the Italian offshore wind floating industry with three new projects located approximately 30 km off the coasts of Latium and Sardinia. The three wind farms make the consortium one of the largest developers in the sector in Italy, with a pipeline totaling almost 3 GW, enough to satisfy the electricity consumption of around 2.5 million households.

ROME and MILAN, Italy and COPENHAGEN, Denmark, March 22, 2023 (GLOBE NEWSWIRE) — GreenIT, the Italian renewable energy joint venture between Plenitude (Eni) and CDP Equity (CDP Group), and Copenhagen Infrastructure Partners (CIP) through its Flagship Funds have signed an agreement to develop three floating offshore wind projects in Latium and Sardinia. The plants will be located on average roughly 30 km off from the coast and have an overall capacity of approximately 2 GW.

The agreement involves the development of a project in Latium, off the coast of Civitavecchia, for a total capacity up to 540 MW, and two other wind farms located off the coast of Olbia (Sardinia), with a power of around 500 MW and 1,000 MW. Combined, the three projects will produce around 5 TWh/year with commercial operation expected between 2028-2031 once the authorization process and subsequent construction phase are completed.

The partnership’s offshore wind portfolio in Italy will thus reach almost 3 GW with a yearly production of around 7 TWh of renewable energy, enough to satisfy the electricity consumption of around 2.5 million households and contributing to the decarbonization objectives of the 2030 National Integrated Energy and Climate Plan.

The three offshore projects will be using floating foundations, utilizing innovative technical solutions aimed at minimizing environmental and visual impact, and will benefit from technological and logistic synergies with the other offshore wind initiatives managed within the same partnership.

The wind farms will be developed by a joint working team, in collaboration with Copenhagen Offshore Partners – the exclusive offshore wind development partner of CIP – and NiceTechnology and 7 Seas Wind Power, Italian companies with proven experience in the offshore plant sector, which have collaborated with GreenIT and CIP on the deployment of two other wind farms in Sicily and Sardinia.

This new agreement represents an additional strategic step and a firm commitment to strengthening the floating offshore wind industry in Italy, providing a significant contribution towards a low carbon future as well as encouraging the development of the local supply chain.

About GreenIT
GreenIT is a joint venture, owned 51% by Plenitude (Eni) and 49% by CDP Equity, for the development, construction, and management of plants for the production of energy from renewable sources in Italy. The joint venture, created in 2021, is part of the strategy aimed to support the country’s energy transition, increasing the generation of renewable energy, in line with the objectives set by the 2030 Integrated National Energy and Climate Plan. For more information, visit www.green-it.online/

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages ten funds and has to date (March 2023) raised approximately EUR 19 billion for investments in energy and associated infrastructure from more than 140 international institutional investors. CIP has approximately 400 employees and 11 offices around the world. For more information, visit www.cip.com

For further information, please contact:

Eni corporate contacts
Press office:
Tel. +39 0252031875/+39 0659822030


CDP Media Relations
Mail: ufficio.stampa@cdp.it
Phone: +39 06 42213990


Copenhagen Infrastructure Partners
Simon Mehl Augustesen, Chief Communication Officer
Phone: +45 3052 6721
Email: siau@cip.dk

GlobeNewswire Distribution ID 1000798702

The Remarkable Release Marks a New Phase of Innovation for the Storied Speyside Distillery

ROTHES, Scotland, March 22, 2023 (GLOBE NEWSWIRE) — The Glen Grant Distillery, located in the heart of Speyside, has announced the momentous launch of its new 21-Year-Old single malt scotch whisky. Now the oldest expression in the permanent collection and available starting March 2023, the 21-Year-Old signals the start of a new era of exploration for the 180-year-old distillery.

Driven by a singular vision for over 180 years, The Glen Grant distillery harnesses a constant pursuit to create the most singular, aromatic, and evocative single malts. Inspired by the legacy of ‘The Major’ James Grant – the visionary and eccentric driving force which set the brand on its ingenious path – we bring together inspiration from around the world creating exceptional and intriguing whiskies celebrating the spirit of innovation. This globally- inspired character is what separates The Glen Grant from many of its Speyside neighbours and has guided it along a distinctive path, defining its lasting legacy since 1840.

After his journeys to faraway locations, The Major would gather an eclectic collection of fruits and plants, which he brought back to Rothes and showcased in his personally- designed Victorian glasshouses and later in a 27-acre garden sitting at the heart of the distillery.

The creation of The Glen Grant 21-Year-Old represents a definitive moment in the evolution of The Glen Grant and marks a new chapter in its story. Sitting at the gateway to the prestige expressions of The Glen Grant portfolio, this 21-Year-Old joins the 10-, 12-, 15- and 18-Year-Old family of single malt whiskies and sets the tone for a range of innovative new releases set to be unveiled from 2023 onwards.

For Master Distiller Dennis Malcolm OBE, this also marks a proud achievement in his more than 60-year tenure. In hand-selecting the perfect combination of oloroso sherry butts, hogshead and ex-Bourbon barrels from Warehouse Number 4, the oldest traditional stone dunnage warehouse at the distillery, Dennis has married together the spirit to create the captivating flavours which bring to life an intensity of fruity character.

Commenting on this release, Master Distiller Dennis Malcolm, said, “This 21-Year-Old whisky marks a highly significant moment in time for The Glen Grant and one which will pave the way for a new era. This is an exciting development and one which I know will take us forward into the future with pride and passion. Each one of our whiskies tells its own story and reveals its very own flavour journey defined by a captivating character, with unfolding layers and surprising complexity. I’m proud and thrilled to be able to share this wonderful whisky with the world and continue our commitment to consistent quality which I believe truly sets us apart.”

Bottled at 46%, natural in colour and non-chill filtered, this 21-Year-Old is married in small batches to preserve the integrity of the refined flavours and to ensure absolute quality. All of this is done on site at the Rothes-based distillery, reinforcing the exquisitely singular ethos of The Glen Grant.

The resulting character is of a tropical flair, beginning with aromas of sweet ripe peaches, toffee and raisins which leads to an explosion of rich tropical fruits, such as coconut, and creamy butter notes to taste. A soft welcoming mouthfeel alludes to a long enduring finish of caramelised crème brûlée.

The Glen Grant 21 Years Old is available as of March 2023 across key global markets including the USA, UK, and Asia at an RSP of $360.

For more information
Contact us at theglengrant@mcsaatchi.com
Follow us on Instagram @theglengrantscotch

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d51931e3-3337-4646-ac5c-fc1844c8122a

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

GlobeNewswire Distribution ID 8792810

เตเมคูลา รัฐแคลิฟอร์เนีย, March 22, 2023 (GLOBE NEWSWIRE) — Nikkiso Clean Energy & Industrial Gases Group (“กลุ่มบริษัท”) ซึ่งเป็นส่วนหนึ่งของ Nikkiso Co., Ltd (ประเทศญี่ปุ่น) และดำเนินงานภายใต้ Cryogenic Industries, Inc. (ประเทศสหรัฐอเมริกา) มีความภูมิใจที่จะประกาศการขยายขีดความสามารถด้านการขาย การให้บริการ และวิศวกรรมสำหรับตลาดแอฟริกาอีกครั้ง โดยจะให้การสนับสนุนจากโรงงานของบริษัทในด้านผลิตภัณฑ์ทั้งหมดของกลุ่มบริษัท

โรงงานตั้งอยู่ในวอเตอร์ฟอล รัฐเคซีเอ็น แอฟริกาใต้ ซึ่งก่อตั้งขึ้นเพื่อมอบพิสัยการดำเนินการที่แข็งแกร่งยิ่งขึ้นในแอฟริกา และให้การสนับสนุนจุดศูนย์รวมด้านวิศวกรรมและศูนย์กลางเศรษฐกิจของแอฟริกาใต้ วิศวกรท้องถิ่นและฝ่ายสนับสนุนบริการภาคสนามจะนำมาซึ่งความรู้เฉพาะด้านของภูมิภาคและตลาดท้องถิ่น เพื่อให้สามารถปรับแต่งโซลูชันต่าง ๆ ได้ในระดับสูง

นอกจากการเสนอขายด้านเทคนิคสำหรับผลิตภัณฑ์ทั้งหมดของกลุ่มบริษัทแล้ว ยังได้เพิ่มทีมตรวจสอบการติดตั้งและการทำงานที่สมบูรณ์ตามข้อกำหนดสำหรับหน่วยแยกอากาศซึ่งรวมถึงฝ่ายสนับสนุนลูกค้าด้วย ฝ่ายสนับสนุนด้านวิศวกรรมที่เสริมเข้ามานี้จะช่วยทำให้การปรับปรุงกระบวนการและการออกแบบให้มีประสิทธิภาพสูงสุดเท่าที่เป็นไปได้ ตลอดจนโซลูชันที่เป็นนวัตกรรมใหม่ ๆ ให้แก่ภูมิภาคนี้ นอกจากนี้โรงงานดังกล่าวนี้ยังจะจัดหาอุปกรณ์ LNG เพื่อรองรับการขยายตัวของก๊าซธรรมชาติขนาดใหญ่นอกประเทศโมซัมบิก และการพัฒนาศักยภาพของท่อส่งก๊าซเสมือนสำหรับเชื้อเพลิง LNG เพื่อบรรเทาวิกฤตไฟฟ้า

“การขยายตัวนี้ทำให้เราอยู่ในสถานะที่สามารถตอบสนองต่อความต้องการด้านพลังงานที่เพิ่มขึ้นของแอฟริกาได้อย่างรวดเร็ว รวมทั้งสามารถให้บริการและการสนับสนุนที่ดียิ่งขึ้นแก่ลูกค้าของเราด้วยการมีธุรกิจของเราในท้องถิ่น” Peter Wagner ประธานเจ้าหน้าที่บริหารของ Cryogenic Industries และประธานกลุ่มบริษัทกล่าว

Bruce van Dongen จะดำรงตำแหน่งกรรมการผู้จัดการ โดยมีการวางแผนเรื่องสถานที่บริการในอนาคตมาสักพักแล้ว ซึ่งจะสนับสนุนเรื่องปั๊มและเทอร์โบเอกซ์แพนเดอร์ การขยายตัวนี้แสดงถึงความมุ่งมั่นของบริษัทและการสนับสนุนการเติบโตของตลาดแอฟริกา

เกี่ยวกับ CRYOGENIC INDUSTRIES
บริษัทสมาชิก Cryogenic Industries, Inc. (ปัจจุบันเป็นบริษัทในเครือของ Nikkiso Co., Ltd.) ผลิตและให้บริการอุปกรณ์เชิงวิศวกรรมสำหรับการแยกก๊าซด้วยความเย็นยิ่งยวด (เช่น ปั๊ม เทอร์โบเอกซ์เพนเดอร์ เครื่องแลกเปลี่ยนความร้อน เป็นต้น) และโรงแปรรูปสำหรับก๊าซอุตสาหกรรม, ก๊าซธรรมชาติเหลว (LNG), กระบวนการผลิตไฮโดรเจนเหลว (LH2) และวัฎจักรแร็งคินสารอินทรีย์เพื่อการนำความร้อนทิ้งกลับมาใช้ใหม่ Cryogenic Industries ซึ่งได้ก่อตั้งขึ้นมากว่า 50 ปีนั้นเป็นบริษัทแม่ของ ACD, Nikkiso Cryo, Nikkiso Integrated Cryogenic Solutions, Cosmodyne และ Cryoquip พร้อมทั้งกิจการธุรกิจที่อยู่ภายใต้การดูแลควบคุมจำนวนประมาณ 20 กิจการ

ดูรายละเอียดเพิ่มเติมได้ที่ www.nikkisoCEIG.com และ www.nikkiso.com

สำหรับการติดต่อด้านสื่อ:

Anna Quigley
+1.951.383.3314
aquigley@cryoind.com

รูปภาพประกอบของการแถลงนี้สามารถรับชมได้ที่: https://www.globenewswire.com/NewsRoom/AttachmentNg/30d66f23-e389-4adb-86c2-43133a748d6e/th

GlobeNewswire Distribution ID 8793066

Dr. Robin Jarquin appointed to drive sales and expand operations in the LATAM market

CHICAGO, March 21, 2023 (GLOBE NEWSWIRE) — Amlan^® International, the animal health business of Oil-Dri^® Corporation of America and a global leader in natural, mineral-based feed additives that optimize the intestinal health of poultry and livestock, announces the appointment of Dr. Robin Jarquin as its Director of Sales, LATAM. In this role, Dr. Jarquin will work to advance Amlan’s development strategies and present mineral-based solutions for customers in Mexico, Central America, South America and the Caribbean. Dr. Jarquin will also be responsible for recruiting and hiring new industry partnerships and talent to expand operations in the LATAM market.

Amlan is proud to be expanding operations in LATAM, a region that produced 28 million tons of broiler meat in 2021 alone. With its recent registration of innovative products like anticoccidial alternative Phylox^® in Mexico and Chile, Amlan continues to deliver on its mission to provide high quality mineral-based feed additives to producers around the world.

“Dr. Jarquin’s deep understanding of the poultry industry and vast experience in sales and technical support will propel Amlan’s efforts in supporting LATAM’s broiler meat production which accounts for 22 percent of the world’s production,” said Heath Wessels, Vice President of Sales, The Americas. “With Dr. Jarquin’s expertise, we are eager to reinforce our unique product benefits with stakeholders and decision makers to drive strategic opportunities for market share expansion in the region.”

Over the last five years, pork production in Latin America has grown over 20 percent and is responsible for nearly 40 percent of all the pork meat produced in the Americas.

“In addition to poultry, swine is a strong area of growth for Amlan in LATAM with our products Calibrin^®-Z and NeoPrime^® which are available in select international markets,” said Dr. Wade Robey, Vice President of Agriculture, Oil-Dri, and President of Amlan International. “Dr. Jarquin will also play a critical role in leading product strategies and development efforts for swine in LATAM as pork meat production continues to rise in the region.”

Dr. Jarquin spent over 17 years at a major poultry production company, most recently serving as Vice President of North American Sales and Tech Services. In this role, Dr. Jarquin was responsible for establishing new business partnerships and managing all commercial and technical service activities for the North American region. Previously, Dr. Jarquin held positions as a microbiologist, Director of World Technical Services, and Sales Manager (CAMEX region).

About Amlan^® International
Amlan International is the animal health business of Oil-Dri Corporation of America, a leading global manufacturer and marketer of sorbent minerals. Oil-Dri leverages over 80 years of expertise in mineral science to selectively mine and process its unique mineral for consumer and business-to-business markets. Oil-Dri Corporation of America doing business as “Amlan International” is a publicly traded stock on the New York Stock Exchange (NYSE: ODC). Amlan International sells feed additives across the world. Product availability may vary by country; associated claims do not constitute medical claims and may differ based on government requirements. For more information on Amlan International, please visit www.amlan.com.

Media Contact
Reagan Culbertson
VP, Strategic Marketing
Press@amlan.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cdf0b4fe-e21e-449b-a43f-89481e298581

GlobeNewswire Distribution ID 8793059

New report from FS-ISAC highlights opportunity for cyberattacks against public and private institutions

RESTON, Va., March 21, 2023 (GLOBE NEWSWIRE) — FS-ISAC, the member-driven, not-for-profit organization that advances cybersecurity and resilience in the global financial system, today announced the findings of its annual Global Intelligence Office report, Navigating Cyber 2023.

The latest report showcased the effect that Russia’s invasion of Ukraine had on the global cyber threat landscape, sparking a flood of ideologically driven “hacktivism” that continues to this day. Driven from both sides of the conflict, the threats have increased substantially within the financial services sector, particularly for institutions in countries that Russia considers hostile. These threats can come from hacktivist groups or directly from the nation-states themselves.

“Unfortunately, the growing involvement of non-state actors attacking on an ideological basis and the manipulation of information by malicious actors will continue to sow uncertainty across the landscape in actual and perceived security threats,” said Steven Silberstein, CEO of FS-ISAC. “The best tool available for financial institutions to combat this is intelligence sharing, allowing collaboration across the global industry and ensuring better cyber preparedness. Cyber threats often evolve faster than the tools we use to combat them, but our strength is in our community.”

The report also highlights that some of the more traditionally common cyber threats, such as DDoS attacks and ransomware, are becoming more sophisticated and the suite of tools at a malicious actor’s disposal continues to develop.

Looking ahead into 2023, some of the key drivers of change in the threat landscape include:

• A growing market for malware-as-a-service: As threat actors become specialized in specific aspects of the kill chain and offer their services in skills and code for sale, cyberattacks become easier to orchestrate, less attributable, and of lower risk. Supply chain threats proliferate as key software, authentication, technology, and cloud service providers are increasingly targeted.
• The accessibility of AI helping attackers, and defenders: The emergence of new AI-technology lowers the barrier for hacking, allowing threat actors to use tools like ChatGPT to design ever more convincing phishing lures. However, those same tools will be leveraged to strengthen defenses as well.
• Cryptocurrency offers a prime target for cyber criminals: Cryptocurrency and digital assets are becoming more integrated into global financial infrastructure, generating a complex regulatory environment for multinational firms. In addition, threat groups will continue to finance their operations using cryptocurrency, highlighting the need for better oversight and asset class protections.

“Cyber criminals are endlessly inventive, and aided by technological advances,” said Teresa Walsh, Global Head of Intelligence at FS-ISAC. “The emergence of new technologies and malware delivery tactics will require institutions to ensure they keep up with evolving cyber threats on a continuous basis and focus on resilience so they can keep operating no matter what happens.”

The threat landscape is rapidly changing, and organizations face key challenges of increasing regulation around the world, seismic shifts in the cyber insurance market, and cybersecurity talent shortages. Facing massive changes in their operational environment, the financial services sector must navigate pressures to reduce costs without compromising the ability to continuously evolve defenses and enhance operational resilience.

Methodology

The Navigating Cyber 2023 report is sourced from FS-ISAC’s thousands of member financial firms in 75 countries and further augmented by analysis by the Global Intelligence Office. Multiple streams of intelligence were leveraged for the curation of the round-up, which examined data from January 2022 to January 2023. The publicly accessible version of the report can be found here. The full report is only available to member financial institutions.

About FS-ISAC

FS-ISAC is the member-driven, not-for-profit organization that advances cybersecurity and resilience in the global financial system, protecting the financial institutions and the people they serve. Founded in 1999, the organization’s real-time information-sharing network amplifies the intelligence, knowledge, and practices of its members for the financial sector’s collective security and defenses. Member financial firms represent $100 trillion in assets in 75 countries.

Contacts for Media:
media@fsisac.com

GlobeNewswire Distribution ID 8792894

New Fortinet research reveals escalating cyber risks due to the ongoing talent shortage while the number of organizations experiencing five or more breaches jumped by 53%

SUNNYVALE, Calif., March 21, 2023 (GLOBE NEWSWIRE) —

John Maddison, EVP of Products and CMO at Fortinet
“The cybersecurity talent shortage is one of the top challenges putting organizations at risk, as clearly demonstrated by the results of the latest Global Cybersecurity Skills Gap Report from Fortinet. In today’s climate, organizations must choose products that introduce automation to offload overworked teams while continuing to focus on upskilling and cybersecurity training.”

News Summary
Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today released its 2023 Global Cybersecurity Skills Gap Report, which reveals ongoing challenges related to the cybersecurity skills shortage affecting organizations worldwide. Key findings from the global report include:

• The cybersecurity skills shortage has contributed to critical IT positions not being filled, which increases organizations’ cyber risks, such as breaches.
• Cybersecurity remains a priority for boards of directors and there is executive demand for increased IT security headcount.
• Technology-focused certifications are highly regarded by employers, serving as validation of skill sets.
• Organizations recognize the advantage of recruiting and retaining diverse talent to help address the skills shortage, but doing so has presented a challenge.

The Costly Reality of the Increasing Cybersecurity Skills Gap
An estimated 3.14 million professionals are needed to fill the global cybersecurity workforce gap. At the same time, the 2023 Global Cybersecurity Skills Gap Report found that the number of organizations experiencing five or more breaches jumped by 53% from 2021 to 2022. One repercussion of this is that many short-staffed cybersecurity teams are burdened and strained as they try to keep up with thousands of daily threat alerts and attempt to manage disparate solutions to properly protect their organization’s devices and data.

Additionally, as a result of unfilled IT positions due to the cyber skills shortage, the report also found that 68% of organizations indicate they face additional cyber risks. Other findings highlighting increased cyber risks that could be partially attributed to the talent shortage include:

• Security intrusions are increasing: One resulting cyber risk is increased breaches, with 84% of organizations experiencing one or more cybersecurity intrusions in the past 12 months, up from 80% from last year.
• More organizations were impacted financially due to breaches: Nearly 50% of organizations suffered breaches in the past 12 months that cost more than $1 million to remediate, which is up from 38% of organizations compared to last year’s report.
• Cyberattacks will continue to increase: At the same time, 65% of organizations expect the number of cyberattacks to increase over the next 12 months, further compounding the need to fill crucial cyber positions to help strengthen organizations’ security postures.
• The skills gap is a top concern for boards of directors: The report demonstrated that more than 90% of boards (93%) are asking how the organization is protecting against cyberattacks. At the same time, 83% of boards are advocating for hiring more IT security staff, emphasizing the demand for security talent.

Upskilling Security Professionals and Developing More Talent with Training
The report also suggested that employers recognize how training and certifications can benefit their organization in addressing the skills gap, while also serving as an advantage for anyone looking to advance in their current security profession, as well as for individuals considering transitioning into the field. Below are additional highlights from the report around training:

• Certifications are sought after by employers: Beyond experience, employers view certifications and training as reliable validation of an individual’s skill set with 90% of business leaders preferring to hire individuals with technology-focused certifications, up from 81% the year before. Additionally, 90% of respondents would pay for an employee to get a cybersecurity certification.
• Certifications benefit both organizations and individuals. More than 80% of report respondents (82%) indicated their organization would benefit from cybersecurity certifications and 95% of business leaders have experienced positive results from either their team or themselves being certified.
• Not enough professionals are certified: While certifications are highly regarded, more than 70% of respondents said it is difficult to find people with certifications.

Increasing Opportunities for Women, Veterans and Other Populations Can Help Solve the Skills Gap
While the report demonstrated that organizations are seeking ways to tap into new talent pools to fill cybersecurity roles, with 8 out of 10 organizations having diversity goals as part of their hiring practices, roughly 40% of organizations indicate they have difficulty finding qualified candidates who are women, military veterans, or from minority backgrounds.

• The report suggested that there was a decrease in veterans being hired compared to last year, with the number of organizations indicating they hired military veterans dropping from 53% in 2021 to 47% in 2022.
• At the same time, the report shows there was only a 1% increase year-over-year in organizations hiring women (88% in 2021 and 89% in 2022) and minorities (67% in 2021 and 68% in 2022).

Fortinet’s Commitment to Closing the Skills Gap
To help alleviate the challenges resulting from the skills shortage, Fortinet is committed to helping organizations improve the management of cyber risks with ML-driven automation and services, as well as increased access to cyber training. As part of these efforts, Fortinet has pledged to train 1 million people in cybersecurity by 2026 to help increase access for security professionals and untapped talent pools looking to upskill and reskill.

About the Fortinet Skills Gap Survey:

• The survey was conducted among more than 1,800 IT and/or cybersecurity decision-makers from 29 different locations.
• Survey respondents came from a range of industries, including technology (21%), manufacturing (16%), and financial services (13%).

Additional Resources

• To learn more about the 2023 Global Skills Gap Report and how the Fortinet Training Institute is addressing the key challenges uncovered in the report, read this blog.
• Learn about Fortinet’s free cybersecurity training, which includes broad cyber awareness and product training. As part of the Fortinet Training Advancement Agenda (TAA), the Fortinet Training Institute also provides training and certification through the Network Security Expert (NSE) Certification, Academic Partner, and Education Outreach programs.
• Learn more about FortiGuard Labs threat intelligence and research and Outbreak Alerts, which provide timely steps to mitigate breaking cybersecurity attacks.
• Learn more about Fortinet’s FortiGuard Security Services portfolio.
• Read about how Fortinet customers are securing their organizations.
• Follow Fortinet on Twitter, LinkedIn, Facebook, and Instagram. Subscribe to Fortinet on our blog or YouTube.

About Fortinet
Fortinet (NASDAQ: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere you need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet’s solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.

FTNT-O

Copyright © 2023 Fortinet, Inc. All rights reserved. The symbols ® and denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCWP, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMoM, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPlanner, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.

Media Contact:	Investor Contact:	Analyst Contact:
Stephanie Lira Fortinet, Inc. 408-235-7700 pr@fortinet.com	Peter Salkowski Fortinet, Inc. 408-331-4595 psalkowski@fortinet.com	Brian Greenberg Fortinet, Inc. 408-235-7700 analystrelations@fortinet.com

GlobeNewswire Distribution ID 8792223

• Reviewed by an independent third-party expert, the ISO-standard-compliant Life Cycle Assessment (LCA) completed by Benchmark Mineral Intelligence compared the production of key energy transition metals (nickel, cobalt and copper) from the NORI-D Nodule Project to key land-based production routes for the same metals
• The LCA scope covered mining, transport, processing and refining, and focused on seven impact categories including: carbon dioxide-equivalent (CO₂e) and particulate emissions; marine and freshwater eutrophication; terrestrial acidification; stratospheric ozone depletion; as well as additional research into waste generation
• Benchmark’s LCA shows the NORI-D Nodule Project model performed better in almost every impact category analyzed than all the land-based routes chosen for comparison
• This LCA follows several years of investment by TMC in peer-reviewed industry-level LCA research to understand global environmental and social impacts of producing battery metals from seafloor nodules and how they compare to current metal production from land ores

NEW YORK, March 21, 2023 (GLOBE NEWSWIRE) — TMC the metals company Inc. (“TMC” or “The Metals Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that leading lithium-ion battery supply chain research firm, Benchmark Mineral Intelligence (“Benchmark”), has completed an independent third-party lifecycle assessment of the environmental impacts of the Company’s planned NORI-D Polymetallic Nodule Project as it looks to bring online the planet’s largest undeveloped deposit of critical battery metals. The full LCA report can be downloaded here and a summary document here.

Benchmark’s team of LCA practitioners set out to assess the potential impacts of mining, transport, processing and refining (‘cradle-to-gate’) of important battery materials including an intermediate NiCuCo matte product and final end-products nickel sulfate, cobalt sulfate and copper cathode from seafloor polymetallic nodules collected from the NORI-D area. They then compared these impacts to producing the same metals via key land-based routes, including from Indonesian nickel laterites and mixed sulfides and oxides mined in the DRC. These raw material inputs are widely used in active cathode materials (CAM) for nickel-rich cathode chemistries for lithium-ion batteries and electrical wiring, enabling the rapid growth of electrified transport and energy storage.

Seven environmental impact categories critical for the metal industry were analyzed—global warming potential, stratospheric ozone depletion, terrestrial acidification, freshwater and marine eutrophication, particulate matter formation, water consumption—and supplementary research into waste generation was also conducted. Nickel, cobalt and copper products derived from the NORI-D Nodule Project performed better in almost every impact category, except for global warming potential (GWP) and water consumption of producing cobalt sulfate, where one land-based route performed better. With over half of nickel now being sourced from beneath biodiverse rainforests and carbon sinks in Indonesia, the study found that TMC’s nickel sulfate product would outperform not just Indonesian nickel but all other key land-based production routes, lowering emissions by between 70-80% on average, including with 70% lower GWP.

“This lifecycle assessment is one of the many science-based tools that TMC is using to quantify the impacts of our NORI-D project, which is helping us achieve two stated goals: to identify the impact hotspots of our future operations to address them before they begin; and to provide a clear picture of how they compare to the existing sources of the same metals today,” said Erica Ocampo, Chief Sustainability Officer for The Metals Company. “Every extractive activity has an impact on our planet and as society sets about securing the raw materials critical for the energy transition, we must carefully consider the environmental and social costs of all the options on the table, and use the data to make informed decisions about what costs are acceptable. LCAs like the one prepared by Benchmark are invaluable in helping us answer these challenging questions. Importantly, this LCA does not cover social impacts or impacts on biodiversity and ecosystem function—these impacts for the offshore nodule collection part of the lifecycle are being analyzed as part of our ongoing NORI-D Environmental and Social Impact Assessment program.”

Amid a historic decline in ore grades and in the face of rapidly rising demand, the search for new sources of metals for the energy transition risks exacerbating the environmental and social impacts of mining on land. Production of energy transition metals will need to increase six-fold by 2040 to meet the world’s ambitious climate targets, according to the International Energy Agency. TMC’s portfolio of nodule projects contains an estimated in situ resource of battery metals equivalent to the requirements of 280 million electric vehicles – approximately the size of the entire U.S. light vehicle fleet.

In January, TMC announced the publication of a peer-reviewed study in the Yale Journal of Industrial Ecology which found that seafloor polymetallic nodules could significantly reduce—and in some scenarios eliminate—the onshore solid waste streams typically generated by metal production from land ores. An earlier peer-reviewed study – published in the Journal of Cleaner Production – found that sourcing critical battery metals from seafloor nodules could reduce the lifecycle climate change impacts by up to 90%, compared to land ores.

About The Metals Company
The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The Company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.

About Benchmark Mineral Intelligence 
Benchmark is the world’s leading provider of actionable intelligence for the lithium-ion battery and electric vehicle supply chain. Benchmark’s expertise, together with unique and rigorous data collection processes, add real knowledge to opaque industries that are central to the lithium-ion economy. Their services guide the biggest investment decisions, government policy and industry collaboration around the world. Benchmark’s expertise is reinforced by its ESG division that offers a set of subscription and consultancy services providing robust metrics and Life Cycle Assessments measuring the sustainability of the EV supply chain build out. Benchmark ESG provides bespoke independent assessments of the material risks organizations face and investor-driven analysis, driving ESG through the heart of the EV supply chain’s companies. Benchmark ESG assessments assist in reducing future compensation associated with poor ESG risk identification in an industry where sustainability is being widely critiqued.

From the mine to cathodes and anodes, through to the lithium-ion battery cell, Benchmark’s entire supply chain approach is unique and relied upon the world over. More information is available at http://www.benchmarkminerals.com

More Info 
Media | media@metals.co
Investors | investors@metals.co

Forward Looking Statements
Certain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The forward-looking statements contained in this press release include, without limitation, statements that waste streams could be reduced by using deep-sea nodules. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside TMC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the outcomes of research conducted by third parties including the Life Cycle Assessments; regulatory uncertainties and the impact of government regulation and political instability on TMC’s resource activities; changes to any of the laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and recovery rates of impacted ecosystems; TMC’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that TMC may recover; risks associated with collection, development and processing operations; fluctuations in transportation costs; testing and manufacturing of equipment; risks associated with TMC’s limited operating history; the impact of the COVID-19 pandemic; risks associated with TMC’s intellectual property; and other risks and uncertainties, including those in the “Risk Factors” sections, included in the final prospectus and definitive proxy statement, dated and filed with the Securities and Exchange Commission (the “SEC”) on August 12, 2021 relating to the business combination, in TMC’s Annual Report on Form 10-K for the year ended December 31, 2021, filed by TMC with the SEC on March 25, 2022, and in TMC’s other future filings with the SEC. TMC cautions that the foregoing list of factors is not exclusive. TMC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. TMC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7ce24b67-9bd0-4eb9-b9b3-184f2dc146ae

GlobeNewswire Distribution ID 8792340

-New AI accelerator helps brands quickly generate high-quality product content; 55% of consumers don’t buy products online due to bad product content

-Platform keeps “humans in the loop” through tightly integrated content approval workflows

BOSTON, March 21, 2023 (GLOBE NEWSWIRE) — Salsify, the Product Experience Management (PXM) platform empowering brand manufacturers, distributors, and retailers to win on the digital shelf, today announced the Salsify PXM OpenAI Accelerator. The new integration enables brands, retailers and distributors to expedite the creation of product content across the entire product catalog by tapping into the generative, scalable power of Artificial Intelligence. Within the Salsify PXM platform, customers use Salsify Workflow to define the language generation prompt, dynamically inject contextual data from Salsify’s PIM and execute content generation in bulk, all through its out-of-the-box integration with OpenAI. In simpler terms, now Salsify customers can give Generative AI a role in their product content process, directly inside the platform. This capability saves organizations money and time and allows them to accelerate creative work to provide the best possible experience along the digital shelf.

Additionally, any Salsify partner is able to extend the value of the OpenAI Accelerator for their customers. As part of today’s announcement, Salsify partner Sitation also announced their use of the OpenAI Accelerator to make Salsify the first PXM platform to be integrated into their new suite of Generative AI tools, RoughDraftPro. RoughDraftPro is able to deliver high quality long-form content directly into Salsify by pairing specially-crafted AI prompts with trained data sets, allowing for the creation of product descriptions, feature bullets, and even complex HTML output with astounding speed and scalability.

Both solutions will be demonstrated live in Salsify’s booth #1122 from March 27th-29th at Shoptalk in Las Vegas.

The best possible product experiences are channel-specific, compelling, and contain all the relevant product details to help buyers make a decision. Achieving this at scale with only human-powered processes is virtually impossible, even for the world’s largest brands. But as of today, Salsify customers can tap into the power of AI, combining all the product- and retailer-specific data held in Salsify with the knowledge of the OpenAI platform to create hundreds of product descriptions in seconds. More importantly, since Generative AI is not infallible, humans are kept in the loop via Salsify workflows driving the review and approvals necessary to ensure accurate, complete, and compliant product content everywhere.

“Recent advances in artificial intelligence have opened the door to exciting new capabilities for retailers, distributors, brands, and manufacturers selling online,” said Steve Engelbrecht, Founder and CEO at Sitation. “We provide services around RoughDraftPro to design custom prompts for the client, ingest existing content to train the AI model on the brand voice, and map categories, brands, and channels into the content pipeline. Content creation supported by artificial intelligence is a game changer, and we’re thrilled to bring our vision to life for Salsify customers in partnership with this extraordinary team.”

“Any Generative AI solution must integrate with the workflows that trigger human review and approval, or companies risk destroying consumer trust,” said Adam Ferrari, Executive VP of Engineering at Salsify. “Whether through the native AI integrations in our platform or value-added, targeted AI innovations from our valued partners like Sitation, Salsify customers can be assured they will achieve both scale and quality. No one else in the industry provides this safety blanket around automated content creation.”

With Generative AI capabilities integrated into Salsify’s Workflow engine, either from Salsify or valued partners, brands, retailers, and distributors can:

• Use limited human resources most efficiently: one team member can generate hundreds of product descriptions automatically, based on existing product information and what’s available through AI platforms and then review rather than write content from scratch
• Keep up with a broad product assortment: AI powered by the variant product data in Salsify eliminates the manual tedium and opportunity for errors when providing descriptions for each SKU in a product assortment
• Improve product page rankings or SEO rank: OpenAI Accelerator allows teams to create content fast based on new keyword data so that SEO-optimized product listings can be live in market sooner
• Avoid product data errors, publish with confidence: assign the most manual part of the content creation and update process to AI while still maintaining human oversight into what the consumer will see
• Expand customization across sales channels: The OpenAI Accelerator lets teams adjust the existing product content with a new retailer’s word counts, word choice preferences, or other content specifications, automatically and at scale.

Learn More

• Visit Booth #1122 at Shoptalk to see a live demo of the Salsify OpenAI Accelerator and Sitation’s RoughDraftPro
• For more details on RoughDraftPro, go here.
• Register here for an upcoming live webinar on April 11th: “Using OpenAI to Accelerate Product Content Creation”

About Salsify

Salsify helps thousands of brand manufacturers, distributors, and retailers in over 140 countries collaborate to win on the digital shelf. The company’s Product Experience Management (PXM) platform enables organizations to centralize all of their product content, connect to the commerce ecosystem, and automate business processes in order to deliver the best possible product experiences across every selling destination.

Learn how the world’s largest brands, including Mars, L’Oreal, Coca-Cola, Bosch, and GSK, as well as retailers and distributors such as DoorDash, E.Leclerc, Carrefour, Metro, and Intermarché, use Salsify every day to drive efficiency, power growth, and lead the digital shelf. For more information, please visit: www.salsify.com.

About Sitation

Sitation is a leader in PIM and MDM services including implementation, strategy, analytics, content creation, and outsourcing solutions for e-commerce operations. Serving a global audience of retailers, distributors, brands, and manufacturers, Sitation is Salsify’s first and only Platinum partner, an honor which recognizes an ongoing commitment to innovation and customer service, and a demonstrated ability to help customers compete and win on the digital shelf with Salsify.

In 2023, Sitation introduced RoughDraftPro, an AI-enabled platform for creating high quality product content at enterprise scale.

For more information, please visit: www.sitation.com.

Carolyn Adams
carolyn@bluerunpr.com
847.867.3005

GlobeNewswire Distribution ID 8791967