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Digital Domain Reports 2022 Results: Turns to Positive EBITDA of Media Entertainment Business Segment Driven by Record Revenue in 30 Years of the Business and Laser Focus on Core VFX business

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News provided by

Digital Domain Holdings Ltd.

Mar 31, 2023, 03:54 ET

HONG KONG, March 31, 2023 /PRNewswire/ — Digital Domain Holdings Limited (“Digital Domain” or the “Group”), Hong Kong listed visual effects (“VFX”) and virtual human technology company, reports full year results for 2022 that reflect the Group’s largely completed reorganization plan aimed to refocus its business on providing the highest quality VFX services to the world’s leading content producers (mostly Hollywood studios and global game publishers).

In 2022, the Group has recorded a revenue of HK$959 million (US$123 million), compared to HK$864 million (US$111 million) or 11% increase from the same period in 2021 – this is the all-time highest revenue in the 30 years of the Group’s operations.

Following Digital Domain’s refined focus on VFX services, closure of loss-making activities, combined with achieving over HK$780 million (US$100 million) in sustainable revenue scale of the business and significant investment in high-quality or lower-cost production hubs in Canada and India, the Group has transformed itself into a firmly profitable operation with a gross margin of 23% in 2022 compared to 14% in 2021 and 11% in 2020. This systemic change in the profitability of Digital Domain led to the Group reporting positive EBITDA of Media Entertainment Business Segment for first the time since 2014; in 2022, Digital Domain generated positive HK$6.15 million (US$0.8 million) EBITDA of Media Entertainment Business Segment versus the negative HK$304.7 million (US$39.2 million) in 2021. On the net basis Digital Domain reporting HK$215 million (US$28 million) net loss in 2022 (a reduction by 72% compared to 2021 net loss of HK$781 million (US$100 million) – those losses largely explained by impairments and write-offs of multiple non-core legacy activities accumulated by Digital Domain over the years before the Group’s focus shifted to building profitable and scalable VFX operations in 2021.

“Our 2022 results evidence successful completion of the Group’s reorganization aimed to build scale and profitability in our core VFX business,” commented Daniel Seah, CEO of Digital Domain. “We intend to preserve focus on profitability and positive operating cash flows and we’ll look for further profitable growth opportunities both in our core VFX business and in the commercial exploitation of our highly relevant technologies for artificial intelligence” added Mr. Seah.

About Digital Domain

Digital Domain Holdings Limited (“Digital Domain”) is the pioneer of creating transportive experiences. Throughout the last 30 years, Digital Domain has grown to lead the visual effects industry, expanding the arm of virtual humans and visualization globally. Digital Domain’s rich legacy consists of hundreds of feature films and episodes, thousands of advertising, game cinematics, and immersive experimental experiences. A creative force in cutting-edge technologies, Digital Domain, has brought exceptional artistry to Academy Award-winning blockbusters of Titanic, What Dreams May Come, and The Curious Case of Benjamin Button, Marvel Cinematic Universe titles crushed all time worldwide box office, such as the Avengers franchise, and Stranger Things made a splash with Season IV.

As the first independent visual effects studio to successfully enter Greater China, Digital Domain has further paved the way towards virtual race since 2016. Leaning into technologies of artificial intelligence and virtual reality allows Digital Domain to create photorealistic and emotionally expressive virtual humans, all in real-time, -and provides an advanced medium for human-computer and human-human interactions in diverse virtual scenarios.

Digital Domain Holdings Limited is listed on the Hong Kong Stock Exchange (Stock code: 547). Digital Domain has ten locations, including Los Angeles, Vancouver, Montreal, Beijing, Shanghai, and Hyderabad.

Digital Domain Official Website – WWW.DIGITALDOMAIN.COM

SOURCE Digital Domain Holdings Ltd.

https://www.prnewswire.com/news-releases/digital-domain-reports-2022-results-turns-to-positive-ebitda-of-media-entertainment-business-segment-driven-by-record-revenue-in-30-years-of-the-business-and-laser-focus-on-core-vfx-business-301786811.html

 

 

 
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Need for Solvent-free Alternatives Driving Demand for Emulsion Polymers

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News provided by

Frost & Sullivan

Feb 09, 2023, 03:12 ET

Acrylics and vinyl are key chemistries contributing to the overall growth of the emulsion polymer market, says Frost & Sullivan

SAN ANTONIO, Calif., Feb. 9, 2023 /PRNewswire/ — According to Frost & Sullivan’s most recent report, Global Emulsion Polymer Growth Opportunities, the market expansion of emulsion polymers (EPs) across industries is influenced by their growing use in end-use applications. While paints and coatings, paper, and packaging are the main industry verticals driving demand for EPs, acrylics, and vinyl are key chemistries contributing to the sector’s total growth. From $40.30 billion in 2022 to $59.78 billion in 2029, the global market for EP is anticipated to increase at a compound annual growth rate (CAGR) of 5.8%.

For further information on this analysis, please click here.

“EP manufacturers face concurrent challenges that require innovative solutions, including customer demands for tailor-made chemistries,” said Ganesh Dabholkar, Chemicals, Materials & Nutrition Senior Research Analyst at Frost & Sullivan. “Additionally, a lack of application expertise and technical support in end-use industries calls for the development of effective strategies.”

Dabholkar added: “To comply with governments’ stringent sustainability regulations, many EP manufacturers will develop bio-based formulations in the next two to three years. Further, the innovation of alternatives to harmful styrene-based and other petro-based acrylate chemistries will be vital to developing circular and sustainable products.”

To capitalize on the EP growth opportunities, market participants should:

  • Invest in focused research and development (R&D) sub-areas to develop superior polymerization processes that achieve high monomer conversion rates.
  • Partner exclusively with regional distributors to leverage their manufacturing capabilities for developing businesses in new geographies.
  • Focus on the innovation of green and sustainable products, which will call for the replacement of styrene, acrylate, and isocyanate-based EP use with more environmentally friendly or recyclable chemistries, such as polyvinylidene chloride.

Global Emulsion Polymer Growth Opportunities is the latest addition to Frost & Sullivan’s Chemicals, Materials & Nutrition research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion

Global Emulsion Polymer Growth Opportunities

PDE3

Contact:
María Alejandra Briceño
Corporate Communications
E: maria.briceno@frost.com
https://www.frost.com/

Photo – https://mma.prnewswire.com/media/1996755/Frost_Sullivan.jpg

SOURCE Frost & Sullivan

https://www.prnewswire.com/news-releases/need-for-solvent-free-alternatives-driving-demand-for-emulsion-polymers-301740106.html

Heat Exchanger Market to be Worth $26.26 Billion by 2030: Grand View Research, Inc.

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News provided by

Grand View Research, Inc.

Feb 09, 2023, 02:45 ET

SAN FRANCISCO, Feb. 9, 2023 /PRNewswire/ — The global heat exchanger market size is expected to reach USD 26.26 billion by 2030, according to a new report by Grand View Research, Inc. Rising demand from various industries, including chemical & petrochemical, and power generation, along with an increasing focus on improving efficiency standards in expected to drive the market at a CAGR of 5.1%.

Key Industry Insights & Findings from the report:

  • The demand for plate & frame heat exchangers is anticipated to witness growth at a CAGR of 5.6% from 2023 to 2030 on account of its simple & compact structure coupled with their ability to increase capacity easily by adding new plates to the system.
  • The product demand in the power generation industry accounted for a revenue share of 13.7% in 2022, owing to the increasing energy demand coupled with rising concerns about energy loss and a growing focus on efficient thermal management in power plants.
  • The market in the Asia Pacific is likely to witness a CAGR of 6.2% during the forecast period owing to rapid industrialization coupled with the increasing investments in manufacturing projects and the expanding chemical & power generation industry in the region.
  • The demand for heat exchangers in Saudi Arabia is expected to witness a CAGR of 4.5% owing to the presence of a robust oil & gas industry coupled with the growth in the manufacturing sector attributed to the government’s diversification efforts.

Read 133-page market research report, “Heat Exchanger Market Size, Share & Trends Analysis Report By Product (Plate & Frame (Brazed, Gasketed, Welded), Shell & Tube, Air Cooled), By End-use, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.

Heat Exchanger Market Growth & Trends

The presence of favorable government regulations in the emerging economies of China, India, Brazil, and Mexico about setting up new manufacturing facilities is expected to spur the demand for heat exchangers in various industries. In addition, upcoming nuclear power projects, particularly in the Asia Pacific, are anticipated to drive market growth during the forecast period.

Technological advancements coupled with constant efforts and investments by major market participants in product innovation and research & development are expected to increase the market competitiveness over the coming years. The adoption of novel techniques of additive manufacturing in the production of heat exchangers is likely to complement industrial growth.

The COVID-19 pandemic has severely impacted several economies worldwide. Containment measures, including lockdowns imposed by various countries to curb the spread of COVID-19, have resulted in limiting the operations of manufacturing facilities, thereby negatively impacting the demand for heat exchangers in 2020.

Heat Exchanger Market Segmentation

Grand View Research has segmented the global heat exchanger market on the basis of product, end-use, and region

Heat Exchanger Market – Product Outlook (Revenue, USD Million, 2018 – 2030)

  • Plate & Frame Heat Exchanger
    • Brazed Plate & Frame Heat Exchanger
    • Gasketed Plate & Frame Heat Exchanger
    • Welded Plate & Frame Heat Exchanger
    • Others
  • Shell & Tube Heat Exchanger
  • Air-Cooled Heat Exchanger
  • Others

Heat Exchanger Market – End-use Outlook (Revenue, USD Million, 2018 – 2030)

  • Chemical & Petrochemical
  • Oil & Gas
  • HVAC & Refrigeration
  • Power Generation
  • Food & Beverage
  • Pulp & Paper
  • Others

Heat Exchanger Market – Regional Outlook (Revenue, USD Million, 2018 – 2030)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
  • Central & South America
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • UAE

List of Key Players of Heat Exchanger Market

  • Alfa Laval
  • Kelvion Holding GmbH
  • Danfoss
  • API Heat Transfer
  • Xylem Inc.
  • HRS Heat Exchangers
  • Hisaka Works, Ltd.
  • Koch Heat Transfer Company

Check out more related studies published by Grand View Research:

  • Cryocooler Market – The global cryocooler market size is anticipated to reach USD 4,404.5 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.7% from 2022 to 2030 in terms of revenue. An increase in demand for proton therapy owing to the rising cancer cases across the globe along with increasing demand for night vision technology is propelling the growth of the cryocooler market.
  • Plate & Frame Heat Exchanger Market – The global plate & frame heat exchanger market size is expected to reach USD 8.80 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% over the forecast period. Rising demand in manufacturing facilities as an effective heating solution, minimal maintenance, durability, and life cycle cost is expected to drive the industry growth. The majority of processes in petrochemical plants operate at high temperatures and pressures, necessitating heat transfer process optimization and enhancing energy savings. The global industry is driven by added benefits, such as compact design and easier maintenance, coupled with growing demand in the chemical and petrochemical industries.
  • Heating Radiator Market – The global heating radiator market size is anticipated to reach USD 6.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2022 to 2030. The global heating radiator market is primarily driven by the increasing demand for energy-efficient heating systems in the residential, commercial, and industrial sectors during the forecast period. The COVID-19 outbreak has had an adverse impact on the growth of the global heating radiators market because of the lockdowns in various parts of the world, leading to the shutting off of the radiator manufacturing plants to limit the extent of virus spread. Moreover, the limited travel guidelines made it difficult to obtain raw materials for the production of these products.

Browse through Grand View Research’s  Advanced Interior Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058d
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

SOURCE Grand View Research, Inc.

https://www.prnewswire.com/news-releases/heat-exchanger-market-to-be-worth-26-26-billion-by-2030-grand-view-research-inc-301742671.html

Federal Realty Announces Executive Promotions

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News provided by

Federal Realty Investment Trust

Feb 07, 2023, 18:06 ET

NORTH BETHESDA, Md., Feb. 7, 2023 /PRNewswire/ — Federal Realty Investment Trust (NYSE: FRT) is proud to announce a series of executive promotions that recognize the contributions and expanded responsibilities of a number of long-serving team members.

In its legal leasing function, two additional senior positions have been created to better serve its growing operations:

  • Robyn Sarrat, who has been with the company since 2006, has been promoted to Vice President, Legal Leasing. In this capacity, she will manage Federal Realty’s legal leasing function and oversee lease documentation across the organization, including new leases, renewals, and amendments.

  • Becca Walker has been promoted to Vice President, Head of Legal – Real Estate. Ms. Walker will lead Federal Realty’s legal function with respect to all aspects of its operating properties, including leasing, landlord-tenant matters, development and litigation management. Ms. Walker joined the company in 2015.

In its West Coast operation, the company is formalizing promotions necessitated with the appointment of Jeffrey S. Berkes to President & Chief Operating Officer two years ago:

  • Jan Sweetnam, a seasoned executive with more than three decades in the industry, is stepping into the role of Executive Vice President, Chief Investment Officer, in which he will lead the company’s growth initiatives, including vertical development opportunities at the company’s existing assets, acquisitions, dispositions, and investment performance. Mr. Sweetnam has held several senior positions since joining Federal Realty in 1997 and has been instrumental in growing the company’s West Coast portfolio. In 2021, he was appointed Executive Vice President, Western Region President.

  • Jeff Kreshek succeeds Jan Sweetnam as Senior Vice President, Western Region President. In this capacity, he will oversee the asset management, leasing and operating teams for Federal Realty’s West Coast portfolio, which comprises nearly 6.5 million square feet of some of the best retail and mixed-use real estate in the country. Mr. Kreshek, who joined the company in 2011 and most recently served as Senior Vice President, West Coast Leasing, has over 30 years of experience in leasing, entitlements, property and asset management with an emphasis on redeveloping and repositioning underperforming assets.

  • Christian Irwin is assuming the role of Vice President, West Coast Leasing, in which he will oversee and direct all leasing activities for Federal Realty’s West Coast portfolio, including new retailer relationships, lease negotiations, and leading his region’s leasing team. Mr. Irwin joined the company in 2017 and has been in the industry since 2004.

A senior position has been created to bolster the company’s commitment to long-term value creation through ESG-focused initiatives:

  • Emily McLachlan has been promoted to Vice President, Sustainability. Ms. McLachlan, who joined the company in 2018, will be responsible for driving forward Federal Realty’s ESG program. This includes setting and implementing portfolio decarbonization strategies, managing the company’s solar portfolio, and overseeing all ESG reporting efforts.

In recognition of his invaluable contributions spearheading the company’s highly productive specialty leasing efforts:

  • Mike Kelleher has been promoted to Senior Vice President, Specialty Revenue. The three-decade industry veteran joined the company in 2007 and in 2009, took on the oversight of Federal Realty’s specialty leasing program, which includes temporary leasing, sponsorships, corporate partnerships, and programming across the entire portfolio.

“These experts are among the most respected in the industry—day in and day out, they demonstrate leadership excellence and a strong track record of execution,” said Don Wood, Federal Realty’s Chief Executive Officer. “I have the highest confidence in their ability to drive our continued success and strengthen Federal’s foundation as a preeminent retail REIT.”

About Federal Realty

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued 0.by their respective communities. Federal Realty’s 104 properties include approximately 3,200 tenants, in 26 million square feet, and approximately 3,300 residential units.

Federal Realty has increased its quarterly dividends to its shareholders for 55 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.

https://www.prnewswire.com/news-releases/federal-realty-announces-executive-promotions-301741370.html

Wemade Hosts WEMIX Airdrop Event to Celebrate the Global Launch of MIR M!

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News provided by

Wemade

Feb 07, 2023, 21:08 ET

SEOUL, South Korea, Feb. 7, 2023 /PRNewswire/ — WEMIX PLAY, the number 1 blockchain gaming platform by Wemade, is hosting a WEMIX airdrop event until February 28th to celebrate the global launch of its MMORPG, MIR M: Vanguard and Vagabond.

WEMIX PLAY will be giving away 1 WEMIX each to 1 million users who meet the following requirements: Connect game account to PLAY Wallet, reach character level 25, and have a log-in record within one week from the event end date. If the number of participants exceeds 1 million, winners will be selected based on the order of reaching character level 25 first. Winners and more information will be announced later.

MIR M is a K-MMORPG featuring martial arts that launched on January 31st. It recreated Wemade’s most popular IP, The Legend of Mir 2, to fit current game trends, and applied blockchain technology to create tokenomics based on the game token DRONE and Governance token DOGMA.

MIR M is also part of an Inter-game Economy that includes the economy of MIR4, the world’s most successful blockchain game. Users of games in this Inter-game Economy can reinvest the game tokens they have obtained in each game into other games, thus creating a virtuous cycle.

Please visit the official website for more information on the airdrop event in celebration of the global launch of MIR M. (https://mirmglobal.com/)

SOURCE Wemade

https://www.prnewswire.com/news-releases/wemade-hosts-wemix-airdrop-event-to-celebrate-the-global-launch-of-mir-m-301741497.html

R. Seelaus & Co., LLC. and the City of Chicago Join Forces to Deploy Capital into Impact Mortgages in Low-to-Moderate Income Neighborhoods Across the City

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News provided by

R. Seelaus & Co

Feb 07, 2023, 14:29 ET

CHATHAM, N.J. and CHICAGO, Feb. 7, 2023 /PRNewswire/ — The City of Chicago and R. Seelaus & Co., LLC. have partnered to deploy City of Chicago investment capital into mortgages to minority families in low-to-moderate income neighborhoods across the city of Chicago. By putting their capital to work, The City of Chicago is supporting specific loan programs that benefit low-to-moderate income communities, creating a win-win for families and lenders alike.

The deployment of capital began in late January into loan programs that were underwritten to the guidelines of the Government Backed Enterprises (GSEs), Freddie Mac and Fannie Mae. By working together, they are hoping to create a more equitable and sustainable path to access home ownership and at the same time, hoping to increase lending to an underserved demographic. These investments create a more lucrative environment for originators to do more lending into these communities.

“Having investors target specific geographies and underrepresented groups with their capital will have a profound and lasting impact on the families and neighborhoods of Chicago that need it most,” says Annie Seelaus, CEO of R. Seelaus &Co., LLC. “We are proud to be a part of this endeavor. It’s a great example of aligning missions and resources to build wealth today for a greater tomorrow.”

“Access to homeownership for lower-income households is vital to lifting our marginalized neighborhoods. I believe this initiative will get desperately needed mortgage capital into the hands of our residents and families who have historically been locked out of the American Dream of owning their own home.” Said Chicago City Treasurer, Melissa Conyears-Ervin. “Owning a home provides a sense of pride and belonging that can help build stronger and more connected communities.”

About the City Treasurer’s Office

The City Treasurer’s Office is the custodian and manager of all cash and investments for the City of Chicago, the four City employee pension funds, and the Chicago Teacher’s Pension Fund. Additionally, the Treasurer’s Office manages a number of programs that promote financial education and small business growth in Chicago’s neighborhoods. The Treasurer is one of three city-wide elected officials in the City of Chicago, with the Mayor and the Clerk being the others. In May 2019, Melissa Conyears-Ervin made history when she was sworn in as City Treasurer for the City of Chicago, the first African-American woman ever to hold the position without prior appointment. As City Treasurer, she is committed to using a positive, results oriented approach with city departments. She works to restore the public’s trust in government–good government–that works for the people and applies an equity lens to all of the office’s programs and outreach.

About R. Seelaus & Co., Inc.

R. Seelaus & Co., Inc. was founded in 1984 by Richard Seelaus, originally as a municipal bond broker-dealer. The firm has since become a certified women’s business enterprise (“WBE”) and has grown into a full-service financial firm that is mission driven in its commitment to creating more opportunities for women in the financial services. R. Seelaus & Co., Inc. and its subsidiaries offer investment advisory, asset management, capital markets, brokerage, fixed income and equity trading, institutional sales, leveraged finance and insurance services. The R. Seelaus & Co., LLC subsidiary is a broker dealer registered with the SEC and member of FINRA, and the subsidiary Seelaus Asset Management, LLC, is an SEC Registered Investment Advisor (“RIA”). With various fixed income trading desks and more than seventy professionals, both entities serve individuals, families, public and private companies, non-profit organizations, and institutional investors. The firm has offices in New Jersey, Connecticut, Florida, Illinois, North Carolina and Massachusetts. For more information about R. Seelaus & Co., and its subsidiaries visit www.rseelaus.com

SOURCE R. Seelaus & Co

https://www.prnewswire.com/news-releases/r-seelaus–co-llc-and-the-city-of-chicago-join-forces-to-deploy-capital-into-impact-mortgages-in-low-to-moderate-income-neighborhoods-across-the-city-301741135.html

Zordix Launches Maximum Entertainment and Presents Roadmap For 2023 and Beyond

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News provided by

Maximum Entertainment

Feb 07, 2023, 02:30 ET

UMEÅ, Sweden, Feb. 7, 2023 /PRNewswire/ — Zordix AB (publ) (Nasdaq: ZORDIX B) today launches Maximum Entertainment as a strategically realigned global entertainment company with differentiated inhouse publishers and a newly restructured development division, Modus Studios. With the news, Maximum Entertainment revealed its current lineup of games that demonstrates the company’s new strategy to increase its creation of owned IP while continuing to release compelling content with external partners. Maximum Entertainment is in the process of acquiring the assets of Romanian game studio FUN Labs to further increase the development talent within Modus Studios.

Maximum Entertainment CEO Christina Seelye announced the new corporate structure on the heels of securing a $30 million USD credit facility yesterday, presenting the company’s new identity and roadmap of upcoming releases rich in variety and distinct playstyles. The exciting roster offers looks at highly anticipated games such as Maximum Football, Smalland: Survive the Wilds, and Bramble: The Mountain King, appealing to a wide range of players: https://youtu.be/J2J6diCRLBA

 

The roadmap announcements include:

  • Maximum Football will launch this year as a free-to-play, live service game
  • Smalland: Survive the Wilds launches into early access on March 29, 2023
  • New IP from Modus Studios titled Big Truck Country: Mudfest
  • New game announcement of Morbid: The Lords of Ire
  • Bramble: The Mountain King will release on April 27, 2023
  • Teaser of new unnamed own IP “Project Velos” in collaboration with bestselling author, Brandon Tyler Webb
  • Brand new gameplay footage of zombie shooter Projekt Z

Maximum Entertainment seeks to increase IP ownership to 30 percent of revenue by 2025 and includes expanding the reach of its transmedia entertainment. The realignment includes creating cross functional teams across the whole group such as finance, data and business intelligence, creative services, QA and porting. Yesterday’s appointment of Thierry Bonnefoi as interim CFO will provide the operational experience and stability to lead this next phase of growth. All of these factors will greatly enhance efficiencies as the company is laser focused on key areas of growth for 2023 and beyond.

“The new Maximum Entertainment structure will reduce risk to the overall organization and provide a new focus on developing our own intellectual property and franchises. The new strategy improves our ability to cover the full value chain of video games across development, publishing, transmedia, sales, and operations. With a mission to deliver magic to the gamer in everyone, we are poised to become the global leader in double-A to triple-I video games,” said Christina Seelye, CEO of the newly launched Maximum Entertainment.

The strategic positioning in the double-A and triple-I sector sets Maximum Entertainment apart from the competition with clearly defined markets in growth areas. This allows its publishing labels and development studios operational and creative freedom while pairing games and partners with teams suited to their talent and experience. In turn, this formula empowers creators to deliver the most engaging, high-quality games.

The company currently has over 100 games in its content pipeline planned across PC and consoles, including 15 of its own IP. The overall portfolio will emphasize specific genres of game development including competitive fighting, sports, shooters, and action/adventure with focus on live service and strategic global transmedia opportunities. View a brief roadmap trailer for 2023 and beyond: https://youtu.be/nTh4wYEcUDQ

“The addition of the FUN Labs team to Modus Studios and Maximum Entertainment is expected to finalize in the coming weeks and is fully aligned with our strategy of increasing internal studio capability to meet our goal of 30 percent of the revenue generated by our own IP by 2025,” concludes Seelye.

Modus Studios Bucharest is located in Bucharest, Romania, and the FUN Labs team has a longstanding relationship with Maximum Entertainment. The 40 developers are specialized in multi-platform development for consoles and PC, utilizing the latest Unreal Engine technology. The rationale behind the addition is to secure and develop the roadmap by adding highly talented developers and studio capacity in a scalable talent-dense region.

All studios, which include Invictus, Dimfrost, Mane6, Modus Studios Brazil and Modus Studios Bucharest, will be led by Global Studio Director, Bruce Hayles and will fall under the realigned Modus Studios brand. Publishing labels, which include Maximum Games, Modus Games, Merge Games, and Just For Games, have been clearly differentiated and moving forward, all games will be put in the right hands for optimal success.

For more information about Maximum Entertainment and the new corporate structure, please see the attachment.

For more information about Maximum Entertainment and its family of companies, please visit the new website: www.maximument.com.

About Maximum Entertainment

Maximum Entertainment is a global entertainment company dedicated to creating high quality experiences spanning the entire value chain of video games, including development, publishing, transmedia, sales and operations. Maximum Entertainment provides collaborative resources to its partners through in-house publishing labels Maximum Games, Modus, Merge Games and Just For Games, as well as its development division, Modus Studios. With more than 300 titles in its catalog, Maximum Entertainment has partnered with best-in-class creators and franchises around the world to deliver magic to the gamer in everyone. Maximum Entertainment has offices around the world, employs more than 200 professionals and is a brand of Zordix AB (publ). Visit Maximum Entertainment at www.maximument.com.

SOURCE Maximum Entertainment

https://www.prnewswire.com/news-releases/zordix-launches-maximum-entertainment-and-presents-roadmap-for-2023-and-beyond-301739776.html

Matrixport’s UK Unit Becomes an Appointed Representative of UK FCA-Authorised Varramore Partners

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News provided by

Matrixport

Feb 07, 2023, 03:00 ET

Partnership allows its UK subsidiary to conduct regulated activities in the UK, and to introduce investment products and services to UK-based institutional investors

SINGAPORE and LONDON, Feb. 7, 2023 /PRNewswire/ — Matrixport, one of the world’s largest and most trusted digital assets financial services ecosystems, announced today a major milestone in its international expansion efforts. Its United Kingdom (UK) wholly-owned subsidiary, Matrixport Advisors Limited, has been appointed as an Appointed Representative (AR) of Varramore Partners Limited (Varramore), which is authorised and regulated by the Financial Conduct Authority (FCA) in the UK.

This partnership allows Matrixport to conduct a range of investment-related activities in the UK, an international financial hub and a global leader in institutional adoption of digital assets.

Gerard O’Brien, Managing Director of Varramore, said “We are delighted to partner with Matrixport and to support their expansion into the UK market. As our AR, we will help Matrixport to introduce and promote digital asset investment products and services to UK-based institutional investors in line with the FCA’s regulatory requirements, principles and expectations. We have been impressed with Matrixport’s commitment towards regulatory compliance best practices to date and are confident of a long and fruitful partnership.”

The AR status validates Matrixport’s commitment to operating in compliance with the FCA’s rigorous standards for financial service providers and allows the firm to introduce investment products and services to UK based institutional investors.

Toby Norfolk-Thompson, Matrixport’s Chief Investment Officer US & UK, said “This achievement is a testament to our commitment towards best practices in regulatory compliance in the jurisdictions in which we operate. The UK, being a European hub of financial innovation and stability, presents an opportunity for us to tap into its thriving digital asset market to introduce an exciting and unique digital-asset product suite for institutional clients.”

The UK’s digital asset market is experiencing rapid growth, with the latest Chainalysis Report placing it as the largest digital asset sector in Western Europe by transaction volume, with $233 billion in transactions between July 2021 and June 2022. The country is home to a wealth of talent, diverse funding sources, a globally respected legal and regulatory framework, making it a prime destination for the digital asset industry.

In addition to its partnership with Varrome, Matrixport has established a track record of strategic collaborations with leading organisations and solutions in digital asset management services. The firm recently announced the partnership with Chainalysis to tap into their transaction monitoring and AML tools, and last year launched a partnership with Notabene to implement a protocol-agnostic, end-to-end solution for global Travel Rule compliance.

About Matrixport
Matrixport is one of the world’s largest and most trusted digital assets financial services ecosystem. The company’s services include prime brokerage, Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Matrixport serves individuals as well as over 800 institutions across Asia and Europe.

For more information, please visit www.matrixport.com

About Varramore
Varramore is a boutique professional service provider offering a range of bespoke services to investment firms that are authorised and regulated by the Financial Conduct Authority (“FCA”), seeking to become authorised and regulated by the FCA or wishing to carry out regulated activities as an Appointed Representative (“AR”) of a firm that is authorised and regulated by the FCA. Varramore combines in-house investment sector experience with consulting practice knowledge to provide clients with a “best of both” service. In addition to possessing extensive experience in the areas of regulatory hosting, governance, risk, compliance, accounting, finance and tax, Varramore understands how investment firms operate on a day-to-day basis. This combination allows Varramore to deliver practical, pragmatic and proportionate services to our clients in a manner that adds values and improves operational efficiency. Varramore was established in 2016 and is headquartered in London.

For more information, visit https://www.varramore.com/home

Logo – https://mma.prnewswire.com/media/1560145/matrixport_logo_blue_white_Logo.jpg

SOURCE Matrixport

https://www.prnewswire.com/news-releases/matrixports-uk-unit-becomes-an-appointed-representative-of-uk-fca-authorised-varramore-partners-301739127.html

BrightNight Announces Differentiated 100 MW Hybrid Wind-Solar Power Project in Maharashtra, India

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News provided by

BrightNight

Jan 29, 2023, 20:10 ET

Optima Project to Serve Commercial & Industrial Customers     

WEST PALM BEACH, Fla. & GURUGRAM, India, Jan. 29, 2023 /PRNewswire/ — BrightNight, the next generation and global renewable power producer built to deliver clean and dispatchable solutions, today announced plans for one of its inaugural projects in India: a differentiated 100 MW co-located, wind-solar hybrid renewable power project that will deliver clean, high-capacity factor power to commercial and industrial (C&I) customers in the State of Maharashtra.

The Optima project located in the State of Maharashtra has been developed by BrightNight’s India team using its proprietary software platform, which optimizes multiple renewable technologies to meet customers’ load requirements. The renewable power project will meet up to 80% of C&I customers’ power consumption and potentially save customers up to 25% annually on their energy bills while avoiding carbon emissions equivalent to up to 6 million tonnes for project life. The project will consist of co-located wind and solar components, making efficient utilization of grid infrastructure and enabling ease of operations for the grid operator.

“BrightNight is growing rapidly in its quest to globally deliver the next-generation of renewable power projects,” BrightNight CEO Martin Hermann said. “We are well capitalized and have a best-in-class leadership team developing a global portfolio. The Optima project is a great example of how we are using our experienced development team and cutting-edge technology to deliver solutions to our customers: affordable, reliable, and safe renewable power,” added Hermann. “India is a high-growth market with a strong demand for renewable power. I am proud of the India team’s progress and excited about the tremendous potential this market presents for BrightNight.”

Having secured the grid connectivity at the state grid substation, BrightNight is targeting to commission the project by 1Q 2024. BrightNight will work with C&I customers to sign long-term power offtake agreements for the project to meet the highest portion of their power load requirements.

BrightNight has identified India as a core market for its global platform and entered the market with a 1 GW+ portfolio under development led by India CEO Sajay KV and India COO & CFO Naveen Khandelwal, who with the team have collectively delivered more than 7 GW of in-country wind and solar projects.

“Our Optima project is customized to meet the maximum load requirements of our customers,” BrightNight India CEO Sajav KV said. “We’ve received a great response from our prospective customers, and we are actively adding to our portfolio to meet the growing demand for dispatchable renewable power in India.”

BrightNight has a global portfolio of 23 GW across the U.S. and Asia Pacific and is backed by some of the most respected investors in the global energy sector, including Cordelio, a subsidiary of the Canadian Pension Plan Investment Board (CPPIB), and Global Infrastructure Partners (GIP).

This project is BrightNight’s first step in its India build-out to serve C&I and utility customers. With its growing India team, BrightNight has established operations in Gurgaon and in Pune to support the execution of the project. It also has a senior Advisory Council consisting of leading business and energy leaders, including Ron Somers, CEO of India First Group and former President of the U.S.-India Business Council, and Gireesh Pradhan, former Chairman, CERC and former Secretary MNRE, Govt of India.

“Investment follows infrastructure, and BrightNight’s project will support businesses that need power with less carbon, greater reliability, and at lower costs. Such a match is beneficial for economic development, the environment, and communities in Maharashtra,” Advisory Council Member Ron Somers said.

ABOUT BRIGHTNIGHT
BrightNight is the first global renewable integrated power company designed to provide utility and commercial and industrial customers with clean, dispatchable renewable power solutions. BrightNight works with customers across the U.S. and Asia Pacific to design, develop, and operate safe, reliable, large-scale renewable power projects optimized to better manage the intermittent nature of renewable energy. Its deep customer engagement process, team of proven power experts, and industry-leading solutions enable customers to overcome challenging energy sustainability standards, rapidly changing grid dynamics, and the transition away from fossil fuel generation. To learn more, visit: www.brightnightpower.com

SOURCE BrightNight

https://www.prnewswire.com/news-releases/brightnight-announces-differentiated-100-mw-hybrid-wind-solar-power-project-in-maharashtra-india-301733084.html

MINISO Group Announces Management and Board Changes

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News provided by

MINISO Group Holding Limited

Jan 29, 2023, 01:54 ET

GUANGZHOU, China, Jan. 29, 2023 /PRNewswire/ — MINISO Group Holding Limited (NYSE: MNSO; HKEx: 9896) (“MINISO,” “MINISO Group” or the “Company”), a global value retailer offering a variety of design-led lifestyle products, today announced that Mr. Steven Saiyin Zhang has resigned from his positions as the chief financial officer, executive vice president and an executive director of the Company, effective on January 31, 2023, for personal reason and in order to spend more time with his family. Mr. Steven Zhang will continue to serve as a senior consultant to the Company.

Following Mr. Steven Zhang’s resignation, the board of directors of the Company (the “Board”) will be comprised of five members, including three independent non-executive directors and two executive directors. In addition, the Board has appointed Mr. Eason Jingjing Zhang, currently the Company’s vice president of capital markets, as the new chief financial officer of the Company, effective on January 31, 2023.

Mr. Guofu Ye, founder, chairman of the Board and chief executive officer of the Company, commented, “On behalf of our Board and the management team, I would like to thank Steven for his exemplary service and significant contributions to the Company’s business, financial management, capital markets transactions and corporate governance during the past 5 years since he joined the Company. His sound judgment and leadership have been instrumental in our company’s growth, earning respect and commendation throughout the Company.”

“Steven has designed a detailed succession plan to transition his responsibilities to Eason, who has played a key role in driving MINISO’s success in various capital market transactions and several internal finance management projects, demonstrating a clear understanding of our business and establishing confidence in MINISO among the investor community. We look forward to working with him in his new capacities and together taking the Company to new heights.”

Mr. Eason Zhang has served as the Company’s vice president of capital markets since September 2022, in charge of the Company’s capital markets matters, including investor relations, strategic investment and acquisitions, as well as corporate strategy and treasury. Mr. Eason Zhang joined the Company in January 2021 as director of capital markets. Since then, he has played a key role in driving the Company’s success in various capital market transactions and several internal finance management projects. Mr. Eason Zhang has 12 years of experience in capital markets. He started his career in auditing at PricewaterhouseCoopers, after which he served in various roles mainly in capital markets in the U.S., Hong Kong and China A share markets. Mr. Eason Zhang, a Chartered Financial Analyst and a non-practicing member of the Chinese Institute of Certified Public Accountants, received his dual bachelor degrees in World History and Business Administration from Nankai University and is currently an FMBA candidate of the executive program at China Europe International Business School.

Mr. Steven Zhang has confirmed that he has no dispute or disagreement with the Board or the Company and that there is no matter in respect of his resignation that needs to be brought to the attention of the shareholders of the Company.

About MINISO Group

MINISO Group is a global value retailer offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO’s wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand “MINISO” as a globally recognized retail brand and established a massive store network worldwide. For more information, please visit https://ir.miniso.com/.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. MINISO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MINISO’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: MINISO’s mission, goals and strategies; future business development, financial conditions and results of operations; the expected growth of the retail market and the market of branded variety retail of lifestyle products in China and globally; expectations regarding demand for and market acceptance of MINISO’s products; expectations regarding MINISO’s relationships with consumers, suppliers, MINISO Retail Partners, local distributors, and other business partners; competition in the industry; proposed use of proceeds; and relevant government policies and regulations relating to MINISO’s business and the industry. Further information regarding these and other risks is included in MINISO’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and MINISO undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact:

Raine Hu
MINISO Group Holding Limited
Email: ir@miniso.com
Phone: +86 (20) 36228788 Ext.8039

Eric Yuan
Christensen Advisory
Email: miniso@christensencomms.com
Phone: +86 1380 111 0739

SOURCE MINISO Group Holding Limited

https://www.prnewswire.com/news-releases/miniso-group-announces-management-and-board-changes-301732999.html