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With over five million units sold globally in the past year, Tineco reinforces its leadership in the industry SEATTLE , Nov. 26, 2024 /PRNewswire/ -- Today, Tineco is proud to announce that Euromonitor International, the world's leading independent provider of strategic market research, has recognized the company as the #1 global leader in the household wet & dry vacuum cleaner category*. With over five million units sold between July 1, 2023 , and June 30, 2024 , the honor reflects Tineco's commitment to innovation and quality in the home cleaning sector. Harnessing more than two decades of industry innovation, Tineco began its journey with a single vacuum cleaner. Pioneering industry excellence, a notable moment in company history was the launch of the first-ever smart vacuum to market in 2018, quickly followed by an inaugural smart floor washer in 2019, and an intelligent carpet cleaner in 2022. Today, Tineco products are enjoyed by 14 million users across key markets worldwide, including regions in North America , Europe , and Asia . Tineco is now a globally recognized market leader in smart home appliances across the floor care, kitchen, and personal care categories, with 975 patents and 577 registered trademarks across domestic and international markets. For three consecutive years, the company has also held the title of being the #1 wet & dry vacuum brand on Amazon in the United States , Canada , France , Italy , Australia , and Japan . "At Tineco's inception, we set out to simplify life and household tasks with the help of smart technology. Over the past 26 years, our robust R&D team has made significant investments and a steadfast dedication to setting the standard for excellence in floor care solutions," said Ling Leng , CEO of Tineco. "The honor of being named the #1 global leader in the wet & dry vacuum cleaner category by Euromonitor International is an incredible milestone achievement. This recognition fuels our commitment to continuing to innovate and push boundaries to bring exceptional products to market that enhance the lives of our customers worldwide. Looking ahead, we are laser-focused on making Tineco more accessible by expanding into new markets, introducing new advanced technologies to simplify our customers' lives, and expanding our product lineup to meet diverse needs." Tineco's flagship models, including FLOOR ONE Stretch S6 , PURE ONE Station 5 , and Carpet One Cruiser , combine intelligent features with superior power and user-friendly capabilities to revolutionize cleaning. Tineco's R&D team has carefully engineered each model to address real-world challenges and enhance user satisfaction by incorporating technological advancements and valuable consumer feedback. Specifically: FLOOR ONE Stretch S6: Building off the incredible success of Tineco's social-media viral Floor Washers, which vacuum and mop simultaneously, FLOOR ONE S6 offers exceptional maneuverability. Its 180° tilting design lets the floor washer lay completely flat, compressing its height to just 5.1 inches. Coupled with mini assistive wheels that swivel 45° to the left and right, this makes cleaning under furniture, beds, or in hard-to-reach areas effortless. PURE ONE Station 5: Setting a new standard in stick vacuums, the PURE ONE Station 5 provides a brand new vacuum after each and every clean. Its 3-in-1 Smart Station will entirely self-clean, charge, and store the unit, keeping it in pristine condition for subsequent use. Paired with 175W of powerful suction, this is an indispensable tool for households of all types and sizes. Carpet One Cruiser: The Carpet One Cruiser is designed to transform deep cleaning carpets into a regular household activity. It effectively deep cleans various carpet types and powerfully extracts water to reduce drying times by 50% or more than traditional models. Three levels of SmoothPower tech, bidirectional assist wheels, and repositioned water tanks lessen the unit's weight, making the machine easy to maneuver, suitable for users of all ages and strengths, and ideal for frequent use. A leader in the intelligent floor care category, Tineco smart models are equipped with Tineco's proprietary iLoop technology that adjusts suction power in real-time based on the mess detected, which not only optimizes battery power but also allows the user to visualize cleaner floors on the unit's display ring that will change from red to blue once the surface is clean. Guided by customer insights, all new Tineco models also feature self-cleaning capabilities that significantly streamline maintenance. Tineco products are available globally, with distribution in North America on Amazon, Tineco's official online store, and in over 10,000 major retail locations, including Target, Walmart, Best Buy, Costco, Home Depot, and Canadian Tire. To learn more about Tineco and its entire portfolio of intelligent stick vacuums, floor washers, carpet cleaners, and more, please visit us.tineco.com . *Source: Euromonitor International ( Shanghai ) Co., Ltd.; measured in terms of 2023 H2 and 2024 H1 retail sales volume in the world; household wet & dry vacuum cleaners are defined as household cleaners that dispense clean water (or cleaning solution) to wash hard floors and vacuum the dirty water and garbage thereafter; research completed in Nov. 2024 . About Tineco Tineco was founded in 1998 with its first SKU as a vacuum cleaner and, in 2019, pioneered the first-ever smart vacuum. Today, the brand has innovated into a global leader offering intelligent appliances across home categories, including floor care, kitchen, and personal care. Tineco is dedicated to its brand vision of making life easier through smart technologies and consistently innovating new devices. For more information, visit us.tineco.com . Photo - https://mma.prnewswire.com/media/2564357/Tineco_Global_No1_Press_Release_US.jpgHistory is filled with extraordinary moments that defy imagination in various ways that astonish, inspire, and perplex. While we often celebrate the monumental events that shape nations and transform civilisations, countless extraordinary tales remain hidden, their brilliance obscured by the grander narratives of time. These moments are not just anecdotes but stories of courage, ingenuity, tragedy, and sheer eccentricity—each offering a fascinating glimpse into the complexities of the human experience. From daring feats of resilience to bizarre acts of genius and tragedy, these astonishing tales of forgotten heroes, eccentric inventors, and uncanny coincidences are so remarkable that they read like fiction—but are all real. Read also: John Tinniswood: 112yrs old man who survived Titanic’s era, lived through history According to Ranker, here are 11 most jaw-dropping moments in history you probably missed. Mitchell Red Cloud Jr., a member of the Oglala Lakota, became a legendary figure in the Korean War for his extraordinary courage. In 1950, during a brutal firefight, Red Cloud stood his ground after being hit with multiple bullets. Despite his grave wounds, he ordered his men to tie him to a tree to continue firing, ensuring his unit could retreat. His actions saved lives and helped secure a defensive position. Red Cloud’s sacrifice earned him the Medal of Honor, and his story remains a symbol of selflessness and bravery under extreme conditions. Betty Robinson’s extraordinary story of survival captivated the world. As a teenager, she won Olympic gold in the 4×100 metre relay at the 1928 Olympics. However, her life took a dramatic turn when she was involved in a tragic plane crash in 1931. Initially declared dead, Robinson was later discovered to be alive in a morgue, barely clinging to life. Doctors initially doubted she’d ever walk again, but she fought through unimaginable pain and went on to win another Olympic gold medal in 1936, solidifying her place as one of history’s greatest comeback athletes. Victor Hugo, the legendary French author of Les Misérables and The Hunchback of Notre-Dame, was not only a literary giant but also a man whose death commanded immense respect. In 1885, when Hugo passed away, his funeral became a national event. In an extraordinary show of respect, Parisian brothels—known for their open doors—closed for the day as a tribute. Rumour has it that Hugo, who had a complex relationship with love and sexuality, had been a client of the Brothels, adding an ironic twist to the story of his funeral. Read also: Samson Dauda: The Nigerian-born bodybuilder who made history at Mr. Olympia 2024 James Jameson, heir to the Jameson whiskey fortune, was a man of many contradictions. In 1887, while on an expedition in the Congo, he reportedly paid to witness the cannibalization of a young girl by a tribal group. Jameson, a passionate and controversial figure, later denied his involvement, claiming he was merely a witness. However, the disturbing sketches he made of the event and his participation in documenting the horrific scene left a stain on his legacy, raising questions about his motivations and the ethics of colonial exploration during that era. The Greek philosopher Pythagoras is perhaps best known for the theorem that bears his name – the Pythagorean Theorem. While the sixth-century BCE Ionian lives on with the geometric statement about triangles, Pythagoras is also known for his works on the soul. Pythagoras was also a vegetarian, although how strictly he avoided meat remains unclear. Regardless, Pythagoras had thoughts about food, especially fava beans. Pythagoras didn’t eat beans and forbade his followers from eating them as well. Beans were not allowed because they caused internal distress – gas – and could make it difficult to focus. Farting aside, there were also beliefs in the ancient world that beans were associated with Hades and contained reincarnated souls of the dead. Beans were also associated with poverty because poor people ate them. Another interpretation is that Pythagoras really meant politics when he said beans because voting in ancient Greece was done with beans. But stories about beans essentially causing Pythagoras’s demise contradict this explanation: When Pythagoras was chased by an angry mob, the philosopher refused to cross a field of beans to escape. He either saw them as sacred or simply feared them, but either way, he was slain as a result. The word “boycott” has its origins in 19th-century Ireland, specifically in the context of the Land War. Charles Cunningham Boycott, an English land agent in Ireland, was notoriously harsh in his dealings with tenants. In 1880, a group of Irish farmers, led by local activist Michael Davitt, began a campaign of social banishment against Boycott. They refused to work for him or provide services, effectively isolating him from the community. The term “boycott” was coined as a result, forever linking his name to the idea of collective action against unjust individuals or systems. Read also: Forced migration: Facing the largest global displacement crisis in history Anita Ekberg, the Swedish actress who captured hearts in La Dolce Vita, was not just a beauty icon but also a woman of striking courage. In 1964, she was embroiled in an altercation with a persistent paparazzo outside her home. As he tried to snap pictures of her, Ekberg grabbed a bow and arrow and aimed it at the photographer. Though the arrow missed, the incident added to her reputation as a woman who fiercely defended her privacy. Her boldness only intensified her mystique in the world of film and fashion. John Joseph Merlin, a talented inventor and mechanical engineer, created one of the first roller skates, but his debut of the invention in 1783 ended in disaster. Merlin, known for his eccentric personality, appeared at a London masquerade ball wearing his roller skates while playing the violin. However, his attempt at a graceful performance went horribly wrong when he lost control, crashing into a mirror and injuring himself. While his invention would eventually become the history and foundation for modern roller skating, Merlin’s public mishap remains one of the most memorable moments in the history of the sport. The phrase “computer bug” is often credited to Grace Hopper, a pioneering computer scientist in the 1940s. While working on the Mark II computer at Harvard University in 1947, her team discovered that the machine was malfunctioning due to a moth trapped in one of its circuits. The team carefully removed the insect, and Hopper humorously documented it in her logbook, writing: “First actual case of bug being found.” This moment, though trivial at the time, marked the beginning of the term “computer bug,” which is still used today to refer to technical glitches. Read also: 11 key moments of 2021 Lady Meux, an eccentric and wealthy Victorian woman, became a well-known figure in London’s social scene for her bizarre and extravagant lifestyle. One of her more unusual traits was her fondness for zebras, which she had trained to pull her chariot around London. As a wealthy widow with a passion for the exotic, she owned a private zoo and often hosted lavish events at her residence, where she entertained guests with her collection of wild animals. Her bizarre use of zebras was a public spectacle that cemented her as a symbol of Victorian opulence and eccentricity. In 1835, President Andrew Jackson was presented with a 1,400-pound block of cheddar cheese, a gift from a group of supporters in New York. Rather than let the cheese go to waste, Jackson decided to throw a grand public party at the White House, inviting crowds to sample the massive block. The event quickly descended into chaos, with thousands of visitors swarming the White House, pushing, shoving, and indulging in the cheese. It was a bizarre scene, but it shifted national attention away from a political scandal, cementing Jackson’s reputation as an unconventional president.( MENAFN - Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - December 23, 2024) - BuildDirect Technologies Inc. (TSXV: BILD) (" BuildDirect " or " Company "), a leading omnichannel building material retailer is pleased to announce that the Company and BuildDirect Operations Limited (" BuildDirect Operations "), a wholly-owned subsidiary of the Company, have entered into revolving demand credit facility agreements dated December 20, 2024 (the " Credit Agreements ") with the Royal bank of Canada (" RBC "). Pursuant to the Credit Agreements, RBC will make available to the Company and BuildDirect Operations revolving demand credit facilities with an aggregate borrowing limit of up to CAD $9.526 million (the " RBC Loans "). The RBC Loans are payable upon demand and the aggregate borrowing limit thereunder are subject to certain financial covenants calculated on a consolidated basis for the Company and its operating subsidiaries. The RBC Loans will be secured against the assets of the Company and its operating subsidiaries and the Company and BuildDirect Operations intend to use the proceeds from the RBC Loans for general working capital purposes and to restructure certain long- term debt. The interest rate, depending on the currency, on the RBC Loans is based on RBC Prime Rate plus a percentage negotiated between the parties to the RBC Loans. The RBC Loans are correspondingly being provided by RBC with support from Export Development Canada's Trade Expansion Lending Program. The RBC Loans are not convertible into securities of the Company and there are no securities being issued to RBC as a bonus in relation to the RBC Loans. "These credit facilities are a key milestone in BuildDirect's growth strategy," said Shawn Wilson, CEO of BuildDirect. "These facilities will provide the flexibility to expand our working capital while strategically refinancing our secured debt. The backing of a Tier-1 financial institution like RBC, combined with support from EDC-backed programs, underscores strong confidence in our business model and aim to support our ability to continue to pursue sustained growth and value for our stakeholders." About BuildDirect BuildDirect (TSXV: BILD) is a growing omnichannel building material retailer. BuildDirect connects North American home improvement B2B and B2C organizations, and homeowners with quality building materials and services through its robust global supply chain network. BuildDirect's growth trajectory, strong product offering, and proprietary heavyweight delivery network are delivering value today, solidifying its position as an innovative player in the home improvement industry. For more information, visit . Forward-Looking Information: This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. These statements reflect management's current beliefs and expectations and are based on information currently available to management as at the date hereof. Forward-looking statements in this press release may include statements relating the Company and/or BuildDirect Operations Limited's ability to repay the RBC Loans, the ability of the RBC Loans to provide the flexibility to expand the Company's working capital while strategically refinancing its secured debt, and the RBC Loans supporting the Company's ability to continue to pursue sustained growth and value for our stakeholders. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among those factors are changes in consumer spending, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other applicable laws and regulations both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations and changes in general economic, business and political conditions. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. There may be other risks, uncertainties and factors that cause results not to be as anticipated, estimated or intended and such changes could be material. These forward-looking statements are made as of the date of this press release, and BuildDirect assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. MENAFN23122024004218003983ID1109025523 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

The Supersonic Cold War Bomber That President Jimmy Carter Never Liked

Former US president Jimmy Carter dies aged 100

BERWYN, Pa. , Nov. 26, 2024 /PRNewswire/ -- Envestnet, Inc. (the " Company "), yesterday announced that, pursuant to that certain Agreement and Plan of Merger, dated as of July 11, 2024 , by and among the Company, BCPE Pequod Buyer, Inc. (" Parent "), a Delaware corporation, and BCPE Pequod Merger Sub, Inc. (" Merger Sub "), a Delaware corporation and a wholly owned subsidiary of Parent (the "Merger Agreement"), Merger Sub merged with and into the Company (the " Merger "), with the Company continuing as the surviving corporation. At the effective time of the Merger, each share of common stock, par value $0.005 per share, of the Company (the " Common Shares ") (other than any Common Shares (i) owned by Parent (or any of its affiliates), Merger Sub or the Company or any direct or indirect wholly owned subsidiaries of Parent (or any of its affiliates), Merger Sub or the Company, (ii) that are Rollover Shares (as defined in the Merger Agreement), (iii) held in treasury of the Company, and (iv) as to which appraisal rights have been properly exercised in accordance with Delaware law) was automatically cancelled, extinguished and converted into the right to receive $63.15 in cash per one Common Share. As a result, a Share Exchange Event and a Make-Whole Fundamental Change occurred under each of the Indenture, dated as of August 20, 2020 , among the Company, the guarantor party thereto and U.S. Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association, as trustee (the " Trustee "), which governs the Company's 0.75% Convertible Notes due 2025 (the " 2025 Notes ") (such indenture, the " 2025 Indenture ") and the Indenture, dated of November 17, 2022 , among the Company, the guarantor party thereto and the Trustee, which governs the Company's 2.625% Convertible Notes due 2027 (the " 2027 Notes ", and together with the 2025 Notes, collectively and individually, the " Notes ") (such indenture, the " 2027 Indenture ", and together with the 2025 Indenture, collectively, the " Indentures ", and each, an " Indenture ", as applicable), triggering the adjustments to the conversion rights as described below. The effective date of the Share Exchange Event and Make-Whole Fundamental Change was November 25, 2024 (the " Effective Date "). Capitalized terms used and not defined herein have the meanings ascribed to them in the applicable Indenture. The Company announced that, pursuant to the terms of the respective Indenture, in connection with the consummation of the Merger which constitutes a Share Exchange Event under each Indenture, the Company and the Trustee entered into supplemental indentures to each Indenture providing that, following the effective date of the Merger, the right to convert each $1,000 principal amount of Notes into shares of common stock of the Company at the then applicable conversion rate shall be changed into a right to convert such principal amount of Notes solely into a number of units of Reference Property in an aggregate amount equal to the applicable conversion rate in effect on the conversion date (as may be increased by any Additional Shares), multiplied by $63.15 , the price paid per share of Common Stock in the Merger. Because the Merger constituted a Make-Whole Fundamental Change, the Notes are convertible, at the option of the Holder, at any time from the Effective Date until 5:00 p.m. , New York City time, on the business day immediately preceding the Fundamental Change Purchase Date to be determined by the Company and separately announced to the Holders in accordance with the terms of the Indentures as a result of the Merger (the " Conversion Period "). Also because the Merger constituted a Make-Whole Fundamental Change, the conversion rate for the 2027 Notes will be temporarily increased during the Conversion Period. Such conversion rate per $1,000 principal amount of the 2027 Notes increased by 3.2973 units of Reference Property from 13.6304 units of Reference Property to 16.9277 units of Reference Property. The Company's conversion obligation with respect to Notes that are converted prior to the end of the Conversion Period will be fixed at an amount in cash equal to $591.602 per $1,000 principal amount of the 2025 Notes validly surrendered for conversion, and $1,068.984 per $1,000 principal amount of the 2027 Notes validly surrendered for conversion. The right of the Holders to convert their Notes is separate from the right, at the Holder's option, to submit their Notes for purchase upon a Fundamental Change. If a Holder submits a Fundamental Change Purchase Notice, such Holder may not surrender such Notes for conversion unless the Holder validly withdraws such Fundamental Change Purchase Notice prior to the Fundamental Change Expiration Time. Holders should review the applicable Indenture carefully and should consult with their own financial and tax advisors. None of the Company, Merger Sub, Parent or any of their respective affiliates, or any of its or their respective boards of directors, employees, advisors or representatives or U.S. Bank Trust Company, National Association, in its capacity as trustee, paying agent or conversion agent with respect to the Notes, is making any representation or recommendation to any Holder as to whether or not to surrender or convert that Holder's Notes. The Trustee, Paying Agent and Conversion Agent is: U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION Corporate Actions 111 Fillmore Avenue St. Paul, MN 55107-1402 Telephone: (800) 934-6802 Email: cts.specfinance@usbank.com Any questions or requests for assistance in connection with the conversion of the Notes may be directed to U.S. Bank Trust Company, National Association, in accordance with the contact information listed above, or the Company. About Envestnet Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions – backed by industry-leading service and support. Serving the wealth management industry for 25 years with more than $6.5 trillion in platform assets—more than 111,000 advisors, 17 of the 20 largest U.S. banks, 48 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs -- thousands of companies, depend on Envestnet technology and services to help drive business growth and productivity, and better outcomes for their clients. Data as of 9/30/24. View original content to download multimedia: https://www.prnewswire.com/news-releases/envestnet-inc-announces-make-whole-fundamental-change-and-supplemental-indentures-under-its-0-75-convertible-notes-due-2025-and-2-625-convertible-notes-due-2027--302317032.html SOURCE Envestnet, Inc.An NFL owner's daughter is trending on social media for her outfit on the field on Sunday afternoon. The Kansas City Chiefs topped the Carolina Panthers, 30-27, at Bank of America Stadium on Sunday. Bryce Young and the Panthers put up a tough fight, tying the game late in the fourth quarter, but Patrick Mahomes and Co. were able to pull out another late win. The Chiefs, who lost to the Bills, 30-21, last weekend, were able to get back in the win column on Sunday. Kansas City improved to 10-1 on the season, while Carolina dropped to 3-8 on the year. Gracie Hunt, the daughter of the Kansas City Chiefs owner Clark Hunt, trended on social media for her stunning outfit on Sunday. Gracie Hunt/IG Gracie Hunt, the daughter of the Kansas City Chiefs owner, stunned with her beige outfit on the field. "Taking on week twelve! 🏈🔥" she wrote. NFL fans loved it. "Good Morning. Sweet, go chiefs!!! ❤️💛🏈" one fan wrote. "❤️🔥😍," one fan added. "LETS GO CHIEFS," another fan added. "Absolutely gorgeous as always! Love your shoes! 💕💕💕💕," another fan added. "Let's go, Chiefs ❤️💛🏈 Gorgeous Gracie🩷," one fan added. "The Queen in the Queen City. Bet mostly Chiefs fans. Looking great in white," one fan added. View the original article to see embedded media. The Chiefs, winners of the past two Super Bowls, are set to return to the field on Friday against the Las Vegas Raiders, in a Black Friday Game. Kickoff between Kansas City and Las Vegas is scheduled for 3 p.m E.T. The game will air on Amazon Prime.

Asahi Kasei receives governmental support to expand manufacturing capacity for green hydrogen production equipment in Japan Asahi Kasei has received governmental support for the expansion of its manufacturing capacity for cell frames and membranes of alkaline water electrolyzers for the production of green hydrogen at its plant site in Kawasaki, Japan. The purpose is to establish a stable domestic manufacturing supply chain for technologies that contribute to achieving the country’s goal of carbon neutrality by 2050. Driven by expectations for green hydrogen as a clean energy alternative to fossil fuels, the annual installed capacity of water electrolyzers globally is forecasted to reach 31 GW by 2030. As such, the manufacturing capacity for electrolyzers and related components needs to be scaled up in order to keep pace with the expanding demand for the production of hydrogen. For decades, Japan has been a leader in the field of technology for hydrogen production and utilization. Green hydrogen is one important cornerstone of the country’s “Green Transformation (GX)” strategy to achieve carbon neutrality by 2050. As one part of this strategy, the “GX Supply Chain Construction Support Project” aims at establishing a world’s first domestic manufacturing supply chain for cutting-edge technologies that will contribute to achieving Japan’s climate goals, while nurturing economic growth. Increasing annual production capacity to 2 GW Asahi Kasei is a comprehensive manufacturer and provider of alkaline water electrolyzers for the production of hydrogen. Within the abovementioned governmental program, Asahi Kasei proposed to build new plants for both cell frames and membranes for electrolysis having manufacturing capacity of at least 2 GW each at the company’s plant site in Kawasaki, Kanagawa Prefecture, Japan, by 2028. On December 18, the Japanese Government adopted this proposal for financial support. The total capital investment for this project is estimated to be approximately ¥35 billion, and Asahi Kasei expects to receive a subsidy of up to ¥11.4 billion through this initiative. Including the current manufacturing capacity for Asahi Kasei’s ion-exchange membrane chlor-alkali electrolysis process, this expansion will raise the company’s total annual capacity for cell frames and membranes to more than 3 GW. Asahi Kasei aims to create synergies between its two electrolysis businesses by establishing a system that can respond to both the uncertain expansion of the hydrogen market and the growing demand in the chlor-alkali electrolysis business, which has earned a high level of trust and market share from customers around the world. , Lead Executive Officer of Asahi Kasei and Senior General Manager of its Green Solution Project, comments : “Looking ahead to the huge market that will emerge from a new hydrogen ecosystem while anticipating market expansion toward 2030, we aim to build the world’s largest water electrolysis equipment manufacturing capacity and supply system through further capital investment and alliances with partners built through existing businesses, including overseas. Through these efforts, we aim for a 20% share of the world’s major water electrolysis equipment markets, primarily in Europe, North America, and India, by around 2030, which will contribute to strengthening the green hydrogen supply base worldwide while raising the industrial competitiveness of Japan in the field of hydrogen.” Executive Officer of Asahi Kasei responsible for Ion Exchange Membranes, Microza & Water Processing, and Green Solution Project Business Development, comments : “Establishing a stable manufacturing supply chain for green hydrogen is another major step towards realizing a hydrogen society. We will work with the Ministry of Economy, Trade and Industry (METI), which is promoting GX to the fullest extent, to become a leading global supplier in the field of water electrolysis, while leveraging our strong network in the ion-exchange membrane industry.” the latest news shaping the hydrogen market at Asahi Kasei receives governmental support to expand manufacturing capacity for green hydrogen production equipment in Japan, India-born Avaada Group Commits $12bn to Transform Rajasthan into a Global Renewable Energy Hub – Green Hydrogen and Ammonia included MUMBAI, India, Dec. 23, 2024 /PRNewswire/ — Avaada Group, a leading name... Solar step forward for green hydrogen Another advance has been made by experts in nano-scale chemistry to propel further development of sustainable and efficient generation of hydrogen from water using solar power. In a... Green Hydrogen Prices Will Remain Stubbornly High for Decades (Bloomberg) — Green hydrogen has been touted by politicians and business leaders alike as a key fuel for a carbon-free future. But it will remain far...

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The average rate on a 30-year mortgage in the U.S. edged closer to 7% this week, climbing to its highest level since July. The rate rose to 6.84% from 6.78% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from a year ago, when the rate averaged 7.29%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also ticked up this week. The average rate rose to 6.02% from 5.99% last week. A year ago, it averaged 6.67%, Freddie Mac said. When mortgage rates increase they can add hundreds of dollars a month in costs for borrowers, reducing homebuyers’ purchasing power at a time when home prices remain near all-time highs, even though U.S. home sales are on track for their worst year since 1995. The average rate on a 30-year mortgage fell to a two-year low of 6.08% in late September but it’s been mostly rising since then, echoing moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans. The yield, which has mostly hovered around 4.4% since last week and was below 3.70% in September, has been rising in recent weeks following mixed reports on inflation and the economy. It also surged after the presidential election, reflecting expectations among investors that President-elect Donald Trump’s proposed economic policies may widen the federal deficit and crank up inflation. Mortgage rates slid to just above 6% in September following the Federal Reserve’s decision to cut its main interest rate for the first time in more than four years. While the central bank doesn’t set mortgage rates, its actions and the trajectory of inflation influence the moves in the 10-year Treasury yield. The central bank’s policy pivot is expected to eventually clear a path for mortgage rates to generally go lower. But that could change if the next administration’s policies send inflation into overdrive again. September's pullback in mortgage rates helped drive a pickup in sales of previously occupied U.S. homes last month. However, the recent climb in rates has put a damper on the housing market in the near term, said Hannah Jones, senior economic research analyst at Realtor.com. “Mortgage rates reached the high-6% range in late October, and have remained elevated since, much to the disappointment of buyers hoping to find some relief in the late-fall housing market,” she said. Forecasting the trajectory of mortgage rates is difficult, given that rates are influenced by many factors, from government spending and the economy, to geopolitical tensions and stock and bond market gyrations. Economists predict that mortgage rates will remain volatile this year, but generally forecast them to hover around 6% in 2025. Alex Veiga, The Associated PressPresident-elect Trump wants to again rename North America’s tallest peak