Advanced Care Group Expands Healthcare Personnel Recruitment Services into UAE and Saudi Arabia

DUBAI, United Arab Emirates, Oct. 14, 2024 (GLOBE NEWSWIRE) — Advanced Care Group (AC Group), a leader in healthcare recruitment, is thrilled to announce its expansion into the United Arab Emirates and Saudi Arabia, with new headquarters in Dubai and a regional office in Riyadh. This strategic move positions AC Group to address the growing demand for skilled healthcare professionals in two of the Middle East’s most dynamic markets.

With extensive experience and deep knowledge in working with hospital leadership, AC Group specializes in recruiting and placing hospital executives and nurse managers. Additionally, we leverage our global talent pools to source frontline personnel, ensuring that healthcare facilities have access to highly qualified floor staff when needed.

“We’re excited to bring our expertise to the UAE and Saudi Arabia, helping healthcare organizations access the best talent from around the globe,” said Kris Stewart, Founder & CEO of AC Group. “This expansion represents a significant milestone for us, as we work to build strong local partnerships and deliver the high-quality recruitment solutions that healthcare providers need.”

Stewart will be showcasing AC Group’s offerings at the Global Health Exhibition in Riyadh from October 21 to 23, 2024, at booth H1C V95. This exhibition marks a key moment for AC Group’s expansion in the region, offering a unique opportunity to engage directly with healthcare leaders and stakeholders. The company is also preparing for Arab Health in Dubai, scheduled for January 2025, where it will continue to showcase its capabilities and commitment to advancing healthcare across the region.

For more information about AC Group’s services or to connect with us at these events, contact:

Kris Stewart
Founder & CEO
AC Group
Tel: +971-800-03111-256
Email: kris@acgroup.global
Website: www.acgroup.global


GlobeNewswire Distribution ID 9256055

Mavenir’s Cloud-Native Automation Wins Network X Award for Most Innovative Cloud Product

Mavenir’s industry-leading cloud-native automation slashes service deployment time by up to 92%, reducing manual labour by up to 80% for network deployment and operations

PARIS, Oct. 14, 2024 (GLOBE NEWSWIRE) — Mavenir, a pioneer in cloud-native network infrastructure, has been recognized as a global leader in telecom innovation, winning the esteemed 2024 Network X Award for Most Innovative Cloud Product. This accolade reaffirms Mavenir’s excellence in delivering cutting-edge Cloud-Native Automation solutions to mobile network operators (MNOs). Building on its momentum, Mavenir adds this award to its impressive track record, having previously received the 2023 Network X Award for Outstanding Automation Solution in Open RAN.

Mavenir Wins 2024 Network X Award for Most Innovative Cloud Product

Mavenir, a pioneer in cloud-native network infrastructure, has been recognized as a global leader in telecom innovation, winning the esteemed 2024 Network X Award for Most Innovative Cloud Product.

The award honors the network cloud-based product that has delivered the biggest change in network performance for MNOs. The Network X Award judges evaluated Mavenir’s cloud-native 5G automation solution based on five key criteria. The judges assessed Mavenir’s solution for its level of innovation, impact of cloud technology on network performance, time and cost-efficiency of deployment, operational efficiency, and relevance and effectiveness demonstrated through real-world case studies. This recognition solidifies Mavenir’s leadership in automating cloud-native 5G network deployments, empowering MNOs to accelerate time-to-market and reduce total cost of ownership (TCO).

Mavenir’s Cloud-Native Automation empowers MNOs to accelerate their 5G transition. The solution provides end-to-end automation and orchestration of network functions software deployment and lifecycle management, enabling faster network deployment, enhanced flexibility, and seamless scaling. Mavenir’s comprehensive automation capabilities include infrastructure automation, cloud platform automation, network functions automation, and CI/CD pipeline automation. The solution streamlines both day-1 initial deployment of cloud-native network functions (CNFs) and day-2 lifecycle management operations, including upgrades and rollbacks.

Bejoy Pankajakshan, Chief Technology and Strategy Officer, at Mavenir, “Our solution simplifies and accelerates network and services deployment, providing a cost-effective path to 5G. By reducing time, cost, and resource requirements, our customers can quickly implement new innovations and features, staying ahead in a rapidly evolving market.”

The Network X awards showcase the advancements and leadership across the global telecommunications industry with projects and initiatives that celebrate innovation, collaboration, and sustainability.

Notes to the Editor:

Cloud-Native Automation – Mavenir

2024 Network X Award Winners

Network X Awards 2023: Mavenir’s Cloud-Native Network Automation and Open RAN Intelligent Controller (O-RIC) Win Outstanding Automation Solution in Open RAN Award at Network X 2023 – Mavenir

Network X Awards 2022: Mavenir Wins Outstanding CORE Network Solution and Outstanding Open RAN Solution at Network X Awards – Mavenir

About Network X:

Network X, taking place on 8-10 October 2024 at Paris Expo Porte de Versailles, is the only event that brings the fixed and mobile markets together to connect and build business models, frameworks and approaches to monetise B2B and consumer segments with AI and cloud-enabled fibre and 5G networks.

Network X attracts a global audience of 5,000+ senior network infrastructure and service professionals from telcos, leading vendors, industry bodies, governments, analysts and media, including 1,500+ operators. The 2024 event will address current industry challenges and changes through five key themes: Fibre, Wi-Fi Networks and Services, Optical Transport, Mobile Networks and Mobile Services.

About Mavenir

Mavenir is building the future of networks today with cloud-native, AI-enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir’s award-winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For more information, please visit www.mavenir.com

Mavenir PR Contacts:

Emmanuela Spiteri
PR@mavenir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/27577da1-f134-4ab5-be3f-76c08e051304


GlobeNewswire Distribution ID 9255454

EBC Financial Group Enhances Liquidity and Lowers Trading Costs on Major Stock Indices

SINGAPORE, Oct. 11, 2024 (GLOBE NEWSWIRE) — Amidst a global stock market resurgence, EBC Financial Group (EBC) is enhancing liquidity for five major stock indices, including the U.S. Dow Jones, Nasdaq, S&P 500, the A50 (China), and the Hang Seng Index (Hong Kong). This strategic move aims to provide investors with more optimised, efficient trading across all global sessions by reducing trading costs and offering greater access. The global stock market is going through big changes, with lots of money flowing in and companies going public again (IPO boom). This is making stock markets around the world rise.

As market valuations rise and capital flows increase globally, these enhancements position investors to capitalise on key opportunities emerging in this pivotal moment for financial markets. EBC, a global financial broker, is here to help investors make the most of these opportunities. They do this by using advanced technology to offer low-cost, high-quality access to markets where big financial players (banks, institutions) operate. In short, EBC helps investors get better deals and access to big markets at low costs.

EBC Financial Group’s Global Leadership in Liquidity and Market Access
EBC Financial Group’s Global Leadership in Liquidity and Market Access

EBC Financial Group’s global presence positions the company as a leader in liquidity enhancements and market access, offering investors low-cost, efficient trading solutions.

Liquidity Strengthens Major Indices Amid Global Recovery
The ongoing recalibration of global stock markets is driven by several interconnected factors: fresh capital entering the system, a resurgence in IPO activity, and a series of market corrections that are realigning valuations. Emerging markets, once considered high-risk due to volatility, are now benefiting from new regulatory changes that boost investor returns, particularly in dividend payouts.

David Barrett, CEO of EBC Financial Group (UK) Ltd, offered an early prediction in June that undervalued markets were set to rebound. “Value reversion is a powerful force,” Barrett said at the time, emphasising that markets under pressure were now ripe for capital returns. He also noted that emerging markets, bolstered by new dividend regulations, are enhancing their attractiveness to global investors.

The past months have borne out these predictions. Since the start of 2024:

  • All three major U.S. stock indices (Dow Jones, Nasdaq, and S&P 500) have hit new all-time highs since the start of 2024, driven by fresh investment and increased investor confidence.
  • Asian markets, particularly in China and Hong Kong, are experiencing their most significant gains in a decade, marking them as central to global growth.

Why EBC’s Liquidity Enhancement Matters
EBC’s liquidity enhancement couldn’t have come at a better time. As the world’s investors hunt for undervalued assets, EBC has strengthened its ability to offer the lowest trading costs for five major stock indices, giving traders a unique edge in the market.

  • Tighter spreads:
    1. Dow Jones Index (U30USD): Spread reduced to 1.00, reflecting a reduction of up to 70%.
    2. S&P 500 Index (SPXUSD): Spread reduced to 0.31, with reductions reaching 64%.
    3. Nasdaq Index (NASUSD): Spread reduced to 0.70, with reductions as high as 85%, the most significant improvement.
    4. Hang Seng Index (HSIHKD): Spread reduced to 6.50, achieving a reduction of up to 55%.
    5. China A50 Index (CNIUSD): Spread reduced to 6.00, marking a reduction of 14%.
  • Wider access: Whether you’re trading in the Asian, European, or U.S. markets, EBC ensures that you’ll benefit from these cost-saving improvements, no matter the time zone.

EBC’s role in implementing these reductions positions them among institutions actively working to streamline market access for a diverse range of investors.

The Role of IPOs and Global Capital Flows
Global capital is not simply flowing into traditional assets. A fresh wave of initial public offerings (IPOs) is reshaping the investment landscape, offering new opportunities for growth in sectors ranging from fintech to renewable energy. These IPOs, while centred in key regions, are attracting worldwide attention, pulling in capital from investors eager to capitalise on new and emerging trends.

“The market’s expectation for interest rate cuts has shifted the landscape,” Barrett said, adding that the rise of fintech IPOs, in particular, shows no signs of slowing down. As the global economy shifts into a new phase of monetary policy—with central banks signaling lower interest rates—investors are now betting on sustained growth in these innovative sectors.

With this, liquidity enhancements in major indices such as the Nasdaq and the Hang Seng are not simply reactive measures—they are strategic moves by institutions like EBC to prepare for the next wave of market activity. As more capital moves across borders, liquidity becomes essential for efficient, low-cost trading. The reduced spreads and enhanced market access make these indices more attractive to institutional and individual investors alike.

These developments come at a time when emerging markets are increasingly seen as key pillars of global growth, particularly as advanced economies grapple with inflationary pressures and slow economic recovery. The influx of liquidity into major indices reflects a broader confidence in global market resilience and the promise of continued returns in the months ahead.

Investors’ Next Steps: Navigating the Shift
As global capital searches for growth, liquidity becomes more than a technical feature—it’s a vital asset in a world where time and access to markets matter. This period of heightened activity may well define the next phase of global finance, one in which agility, market awareness, and access to liquidity will determine winners and losers.

EBC Financial Group’s liquidity enhancements across major indices align with broader market trends and provide investors with the tools they need to navigate these changes efficiently. By lowering costs and ensuring stability in key markets, EBC is laying the groundwork for investors to capture opportunities in the global markets of tomorrow.

Investors, particularly those focused on long-term wealth appreciation, would do well to remain vigilant. The liquidity enhancements we are seeing today are laying the foundation for future market opportunities. Those who understand these shifts and act accordingly will find themselves well-positioned in a rapidly evolving global financial landscape.

About EBC Financial Group
Founded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its comprehensive suite of services that includes financial brokerage, asset management, and comprehensive investment solutions. EBC has quickly established its position as a global brokerage firm, with an extensive presence in key financial hubs such as London, Hong Kong, Tokyo, Singapore, Sydney, the Cayman Islands, and across emerging markets in Latin America, Southeast Asia, Africa, and India. EBC caters to a diverse clientele of retail, professional, and institutional investors worldwide.

Recognised by multiple awards, EBC prides itself on adhering to the leading levels of ethical standards and international regulation. EBC Financial Group’s subsidiaries are regulated and licensed in their local jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA), EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA), EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC).

At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.

EBC is the Official Foreign Exchange Partner of FC Barcelona, offering specialised services in regions such as Asia, LATAM, the Middle East, Africa, and Oceania. EBC is also a partner of United to Beat Malaria, a campaign of the United Nations Foundation, aiming to improve global health outcomes. Starting February 2024, EBC supports the ‘What Economists Really Do’ public engagement series by Oxford University’s Department of Economics, demystifying economics, and its application to major societal challenges to enhance public understanding and dialogue.

https://www.ebc.com/

Media Contact:
Chyna Elvina
Global Public Relations Manager (APAC, LATAM)
chyna.elvina@ebc.com

Savitha Ravindran
Global Public Relations Manager (APAC, LATAM)
savitha.ravindran@ebc.com

Douglas Chew
Global Public Relations Lead
douglas.chew@ebc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/54d1f25c-3548-44f0-8ca1-9e4efa4190f3


GlobeNewswire Distribution ID 9254951

Duck Creek Technologies Acquires Risk Control Technologies to Deliver Comprehensive Risk Management and Mitigation Solutions

Risk Control’s Platform Will be Fully Integrated into Duck Creek’s Comprehensive Suite of SaaS Solutions for P&C and General Insurers

BOSTON, Oct. 10, 2024 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) insurance, today announced it has acquired Risk Control Technologies, Inc. (“RCT”), a Toronto-based provider of risk management and loss control solutions. This strategic investment is set to transform how insurance carriers prevent loss and manage risk, enabling deployment of advanced AI and machine learning capabilities at the forefront.

“As the world faces increasing risks—whether from climate change, cyber threats, or other emerging challenges—having advanced tools to manage these exposures is crucial. Risk Control is a leader in not only identifying potential loss, but preventing it through preemptive risk mitigation,” said Mike Jackowski, Chief Executive Officer of Duck Creek Technologies. “In addition to sharing Duck Creek’s core values, Risk Control’s leadership and team members bring a wealth of insurance knowledge and experience. Together, we will help insurers work closely with their policy holders to prevent losses, improve safety and better prepare for the future.”

The RCT RiskHub platform will enhance the Duck Creek SaaS suite of insurance technology products, further increasing Duck Creek’s ability to improve underwriting accuracy, optimize claims processes, and reduce overall risk exposure. By integrating RCT’s solution into Duck Creek Technologies platform, insurance carriers will have rich predictive capabilities, enabling them to better manage underwriting risks and maximize an efficient, integrated policy and claims management experience.

“Being part of Duck Creek Technologies will strengthen our goal to help carriers optimize and increase risk-data coverage across their entire business,” said David Da Costa, Chief Executive Officer of Risk Control Technologies. “We are excited to be part of Duck Creek and to work jointly to deliver modern technology innovations that transform the insurance industry and help insurers strengthen their customer engagements and drive impactful operational efficiencies. We look forward to this new chapter and the enhanced capabilities we can now offer to the market as part of the Duck Creek family.”

RCT’s industry-leading loss control and risk assessment platform will be seamlessly integrated with Duck Creek’s comprehensive suite of products to enable data-driven decisions for all stakeholders to improve proactive risk mitigation.

“I’m confident that the combined strengths of Duck Creek and Risk Control, two of our most trusted partners, will bring enhanced capabilities and innovative solutions to the market to bolster risk management and loss control,” said Murali Natarajan, Senior Vice President and Chief Information Officer of West Bend Mutual Insurance. “We look forward to the positive impact this integration will have on our underwriting process, ultimately benefiting our business and customers.”

Raymond James & Associates served as financial advisor to Risk Control Technologies on the transaction.

About Risk Control Technologies

Risk Control Technologies Inc. (RCT) is the leading provider of Risk Management and Loss Control software to the insurance industry. RCT’s RiskHub platform helps underwriting assess risk, and leverage the appropriate risk assessment tool based on the risk’s complexity. RCT helps over 150 insurance organizations improve their loss ratios, increase customer retention, implement operational efficiencies, and harness powerful data insights to enable better business decisions. RCT’s customers include a wide range of insurance organization types, operating across a broad variety of lines of business. For more information, visit www.riskcontroltech.com.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.

Media Contacts:

Marianne Dempsey/Tara Stred
duckcreek@threeringsinc.com

GlobeNewswire Distribution ID 9254519

Zoom named a Leader in the 2024 Gartner® Magic Quadrant™ for UCaaS, Worldwide

Zoom Celebrates its Fifth Consecutive Time Being Placed in the Leaders Quadrant

SAN JOSE, Calif., Oct. 10, 2024 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (NASDAQ: ZM), today announced that Gartner has named Zoom a Leader in the 2024 Gartner® Magic Quadrant™ for Unified Communications as a Service (UCaaS), Worldwide for the fifth time in a row. The UCaaS report evaluated 11 companies in the unified communications space, and Zoom has been recognized as a Leader in this. Zoom includes enterprise-grade solutions like Zoom AI CompanionZoom Contact CenterZoom Team ChatZoom PhoneZoom Meetings, and Workvivo.

“We believe being named a Leader in the Gartner Magic Quadrant for UCaaS for the fifth year in a row is a true testament to our dedication and commitment to providing the best in class UCaaS solutions,” said Graeme Geddes, chief growth and sales officer at Zoom. “Although a lot has changed these past five years, Zoom has remained steadfast in delivering collaboration and communication tools that help empower users and improve productivity.”

To read a complimentary copy of the 2024 Gartner Magic Quadrant for UCaaS report, please click here.

Gartner, Magic Quadrant for Unified Communications as a Service, Pankil Sheth, Megan Fernandez, Christopher Trueman, Rafael Benitez, 7 October 2024

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved

About Zoom
Zoom’s mission is to provide an AI-first work platform for human connection. Reimagine teamwork with Zoom Workplace — Zoom’s open collaboration platform with AI Companion empowers teams to be more productive. Together with Zoom Workplace, Zoom’s Business Services for sales, marketing, and customer experience teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more information at zoom.com.

Public Relations
Bridget Moriarty
Corporate PR Manager
press@zoom.us

GlobeNewswire Distribution ID 9254498

Montana Technologies Signs Abu Dhabi Sustainable Finance Declaration and Attends WETEX in Dubai

Company joins over 135 members that have pledged to foster and integrate sustainable, green investments throughout the United Arab Emirates

WETEX Conference Photo

Representatives from Montana Technologies and TenX exhibited an AirJoule® unit at the WETEX conference in Dubai on Oct 1 – 3, 2024.

RONAN, Mont., Oct. 10, 2024 (GLOBE NEWSWIRE) — Montana Technologies Corporation (NASDAQ: AIRJ) (“Montana Technologies” or the “Company”), the developer of the transformational AirJoule® technology for atmospheric water generation, today announced that it has signed the Abu Dhabi Sustainable Finance Declaration, further establishing the Company’s commitment to sustainable development in line with the United Arab Emirates’ (“UAE”) Green Economy for Sustainable Development Initiative.

The Abu Dhabi Sustainable Finance Declaration is a membership-based initiative that was established by Abu Dhabi Global Market (“ADGM”) in 2019 under the sponsorship of the UAE Ministry of Climate Change and Environment, the Central Bank of the UAE, and the Securities and Commodities Authority, with more than 135 members collaborating to foster and integrate sustainable investments within the UAE and the wider region.

“Montana Technologies is proud to sign the Abu Dhabi Sustainable Finance Declaration, furthering our commitment to working with our partners in the UAE to address regional water security needs and strengthen energy efficiency through our cutting-edge technology. In this context, we look forward to deploying our AirJoule® technology with its best-in-class energetics in the UAE and around the world by leveraging ADGM’s sustainable finance resources as needed,” said Ramdas Rao, President, International of Montana Technologies and head of the company’s international office in the UAE.

Additionally, Montana Technologies attended the Water, Energy, Technology, and Environment Exhibition (“WETEX”) on October 1 – 3, 2024 in Dubai. The Company’s exhibition booth featured a prototype AirJoule® unit that demonstrated its capability of producing pure distilled water from air during the conference.

The exhibition enabled the Company to fast-track its engagement with several key players in the Gulf Cooperation Council and neighboring countries, including local regulators, government entities and leading global organizations. These potential partners expressed interest in the deployment of AirJoule® units to address off-grid water generation and other water security challenges across agriculture, rapidly urbanizing cities, humanitarian emergencies, pure water for green hydrogen electrolysis, Net-Zero water usage in manufacturing, and other end uses.

With its transformational water harvesting and dehumidification technology, AirJoule® can harvest water directly from the air to mitigate water scarcity. When paired with vapor-compression refrigeration systems for air conditioning, AirJoule® can also reduce power consumption for moisture removal by up to 50 percent.

Montana Technologies previously announced the signing of a Memorandum of Understanding with TenX Investment in Energy Enterprises & Management Co. LLC to address water security and energy efficiency opportunities in the UAE, as well as the establishment of its first international office in the UAE.

About Montana Technologies Corporation

Montana Technologies Corporation (NASDAQ: AIRJ) is the developer of AirJoule®, an atmospheric thermal energy and water harvesting technology that provides efficient and sustainable air dehumidification and pure water from air. Designed to reduce energy consumption and generate material cost efficiencies, AirJoule® is being commercialized through a joint venture with GE Vernova and through partnerships with Carrier Global Corporation and BASF. For more information, visit www.mt.energy.

Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release are forward-looking statements. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Montana Technologies Corporation
Tom Divine – Vice President, Investor Relations and Finance
investors@mt.energy

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ba9c39e-112e-44d2-acda-32f0502fa9a8

GlobeNewswire Distribution ID 9254044

Montana Technologies Signs Abu Dhabi Sustainable Finance Declaration and Attends WETEX in Dubai

Company joins over 135 members that have pledged to foster and integrate sustainable, green investments throughout the United Arab Emirates

WETEX Conference Photo

Representatives from Montana Technologies and TenX exhibited an AirJoule® unit at the WETEX conference in Dubai on Oct 1 – 3, 2024.

RONAN, Mont., Oct. 10, 2024 (GLOBE NEWSWIRE) — Montana Technologies Corporation (NASDAQ: AIRJ) (“Montana Technologies” or the “Company”), the developer of the transformational AirJoule® technology for atmospheric water generation, today announced that it has signed the Abu Dhabi Sustainable Finance Declaration, further establishing the Company’s commitment to sustainable development in line with the United Arab Emirates’ (“UAE”) Green Economy for Sustainable Development Initiative.

The Abu Dhabi Sustainable Finance Declaration is a membership-based initiative that was established by Abu Dhabi Global Market (“ADGM”) in 2019 under the sponsorship of the UAE Ministry of Climate Change and Environment, the Central Bank of the UAE, and the Securities and Commodities Authority, with more than 135 members collaborating to foster and integrate sustainable investments within the UAE and the wider region.

“Montana Technologies is proud to sign the Abu Dhabi Sustainable Finance Declaration, furthering our commitment to working with our partners in the UAE to address regional water security needs and strengthen energy efficiency through our cutting-edge technology. In this context, we look forward to deploying our AirJoule® technology with its best-in-class energetics in the UAE and around the world by leveraging ADGM’s sustainable finance resources as needed,” said Ramdas Rao, President, International of Montana Technologies and head of the company’s international office in the UAE.

Additionally, Montana Technologies attended the Water, Energy, Technology, and Environment Exhibition (“WETEX”) on October 1 – 3, 2024 in Dubai. The Company’s exhibition booth featured a prototype AirJoule® unit that demonstrated its capability of producing pure distilled water from air during the conference.

The exhibition enabled the Company to fast-track its engagement with several key players in the Gulf Cooperation Council and neighboring countries, including local regulators, government entities and leading global organizations. These potential partners expressed interest in the deployment of AirJoule® units to address off-grid water generation and other water security challenges across agriculture, rapidly urbanizing cities, humanitarian emergencies, pure water for green hydrogen electrolysis, Net-Zero water usage in manufacturing, and other end uses.

With its transformational water harvesting and dehumidification technology, AirJoule® can harvest water directly from the air to mitigate water scarcity. When paired with vapor-compression refrigeration systems for air conditioning, AirJoule® can also reduce power consumption for moisture removal by up to 50 percent.

Montana Technologies previously announced the signing of a Memorandum of Understanding with TenX Investment in Energy Enterprises & Management Co. LLC to address water security and energy efficiency opportunities in the UAE, as well as the establishment of its first international office in the UAE.

About Montana Technologies Corporation

Montana Technologies Corporation (NASDAQ: AIRJ) is the developer of AirJoule®, an atmospheric thermal energy and water harvesting technology that provides efficient and sustainable air dehumidification and pure water from air. Designed to reduce energy consumption and generate material cost efficiencies, AirJoule® is being commercialized through a joint venture with GE Vernova and through partnerships with Carrier Global Corporation and BASF. For more information, visit www.mt.energy.

Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release are forward-looking statements. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Montana Technologies Corporation
Tom Divine – Vice President, Investor Relations and Finance
investors@mt.energy

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ba9c39e-112e-44d2-acda-32f0502fa9a8

GlobeNewswire Distribution ID 9254044