The Coretec Group Announces Two Upcoming Broadcast Calls

Company to participate in a technology-focused call with panelists as well as a shareholder meeting in May

ANN ARBOR, Mich., March 30, 2023 (GLOBE NEWSWIRE) — The Coretec Group (OTCQB: CRTG), developers of silicon anode active materials for lithium-ion batteries and cyclohexasilane (CHS) for EV, cleantech, and emerging tech applications, today announced that it will host and participate in two upcoming calls – one being a shareholder call addressing shareholder questions, reflecting on recent achievements and demonstrating the path forward, and the second focused on the current battery landscape with energy storage industry leaders.

The shareholder call will take place on Thursday, May 18th at 10:00 am ET and will be led by CEO Matt Kappers and VP of Partnerships and Innovation, Dr. Michelle Tokarz. It will outline advancements made within Coretec’s Endurion battery development program for EV application, IP updates, and clear next steps for the Company as it moves forward in the commercialization of its product.

The technology call will center more on industry happenings, hurdles, and advancements related to the manufacturing, supply chain, and commercialization of next generation EV batteries, giving the Endurion team the opportunity to discuss their solution. The Company will share an announcement about this call, which will include members of other organizations and an independent host, in the coming weeks.

Both calls are intended to inform shareholders and partners, and highlight Coretec’s suite of technology products, as well as the critical market needs it seeks to address.

The Company will provide call access information via press release and social media in advance of the calls. Please follow on Twitter at @CoretecGroupInc or the Company’s LinkedIn page.

About The Coretec Group

The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.

For more information, please visit thecoretecgroup.com.

Follow The Coretec Group on:

Twitter – @CoretecGroupInc
LinkedIn – www.linkedin.com/company/24789881
YouTube – www.youtube.com/channel/UC1IA9C6PoPd1G4M7B9QiZPQ/featured

Forward-Looking Statements

The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.

Corporate Contact:

The Coretec Group, Inc.
Lindsay McCarthy
info@thecoretecgroup.com
+1 (866) 916-0833

Media Contact:

Spencer Herrmann
FischTank PR
coretec@fischtankpr.com
+1 (518) 669-6818

GlobeNewswire Distribution ID 8798974

Vista Equity Partners Completes Acquisition of Duck Creek Technologies

Boston, March 30, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies (“Duck Creek”), the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, today announced the completion of its acquisition by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses, for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.

“We are excited to commence our partnership with Vista Equity Partners and work together to advance the next generation of P&C insurance technology,” said Michael Jackowski, Chief Executive Officer of Duck Creek. “With Vista’s global network and deep sector expertise, we will be better positioned to support and accelerate the industry’s transition to the cloud while continuing to deliver a best-in-class customer experience.”

“Duck Creek is a demonstrated leader in the P&C space, delivering innovative solutions that empower carriers to be faster and more nimble in servicing the digital needs of their customers,” said Monti Saroya, Senior Managing Director and Co-Head of Vista’s Flagship Fund. “We look forward to partnering with Mike and the Duck Creek team as they continue to scale and define the future of P&C insurance technology.”

“We’re excited to welcome Duck Creek to the Vista ecosystem,” said Jeff Wilson, Managing Director at Vista. “Their commitment to excellence and innovation coupled with Vista’s experience in driving sustainable growth will take the business to new heights while delivering solutions that help carriers transform their business.”

Duck Creek has earned the right to partner with and provide its modern technology solutions to an esteemed list of leading carriers across the globe, including Berkshire Hathaway Specialty Insurance, Hollard Insurance, Northbridge Financial Corporation and Tokio Marine.

With the completion of the transaction, Duck Creek Technologies shares have ceased trading and are no longer listed on the Nasdaq Global Select Market.

J.P. Morgan acted as financial advisor to Duck Creek, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Duck Creek.

Evercore acted as financial advisor to the Special Committee of the Duck Creek Board of Directors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the Special Committee of the Duck Creek Board of Directors.

RBC Capital Markets acted as financial advisor to Vista, and Kirkland & Ellis LLP acted as legal counsel to Vista.

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 Twitter.

About Vista Equity Partners

Vista is a leading global investment firm with more than $95 billion in assets under management as of September 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

Carley Bunch
Duck Creek Technologies
+1 (201) 962-6091
carley.bunch@duckcreek.com

GlobeNewswire Distribution ID 8798688

Hitachi Energy and Petrofac secure landmark offshore wind agreement worth approximately 13 billion euros

Largest framework agreement in Hitachi Energy company history, enabling long-term capacity expansion to accelerate the energy transition.Complementary technologies and expertise support TenneT’s offshore wind capacity expansion in the German and Dutch sectors of the North Sea.

Zurich, Switzerland, March 30, 2023 (GLOBE NEWSWIRE) — Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, and Petrofac, a leading international service provider to the energy industry, have been selected by TenneT, the Dutch-German transmission system operator, to supply multiple offshore and onshore HVDC converter stations and associated infrastructure to accelerate the integration of bulk renewables into European power grids.

Hitachi Energy and Petrofac were awarded the multi-year framework agreement as part of TenneT’s ambitious offshore wind “2GW Program”1, based on high-voltage direct current (HVDC) technology pioneered by Hitachi Energy.

The agreement includes an initial commitment to deploy six record-breaking renewable integration systems, five of which will connect offshore wind farms to the Dutch grid and the sixth to the German grid. Each of these connection systems has a capacity of 2 gigawatts (GW) and a voltage level of 525 kilovolts (kV) – a world-first for offshore wind.

This landmark framework agreement is the largest ever for Hitachi Energy. It confirms the opportunity to innovate how state-of-the-art technology can be deployed effectively and how new business models enable the scale needed for the green energy transition. The framework agreement approach allows Hitachi Energy and Petrofac to plan in advance and increase their workforce and manufacturing capacity timely as well as train people to have the skills needed in the industry while also capturing synergies between successive projects to meet the in-service dates.

Hitachi Energy will supply its HVDC Light® converter stations, which convert AC to DC power offshore and DC to AC onshore. Petrofac will undertake the engineering, procurement, construction and installation (EPCI) of the offshore platforms and elements of the onshore converter stations.

The first contract under the framework, for the Ijmuiden Ver Alpha project, was awarded with immediate effect. The second, Nederwiek 1, is expected to be awarded later in the year. The framework also includes projects Doordewind 1, Doordewind 2, Nederwiek 3 and LanWin5, expected to be awarded over a 2024-2026 timeframe.

“This innovative business model will set the course for the integration of a huge amount of offshore wind power and gives visibility of the future.  In fact, we are already hiring to expand our global delivery capacity and effectively fulfill these and other orders,” said Niklas Persson, Managing Director at Hitachi Energy’s Grid Integration business. “We’re proud to be part of this journey and, along with our partner Petrofac, we are setting the benchmark for deploying offshore HVDC technology at scale and with speed.”

“Today’s announcement represents an exciting next step in Petrofac and Hitachi Energy’s collaboration. We have already secured key resource and the yard capacity required to expedite the first two projects in TenneT’s ground-breaking program,” said Sami Iskander, Petrofac’s Group Chief Executive. “By combining Petrofac’s industry-leading EPCI expertise and Hitachi Energy’s well proven technology, we look forward to supporting TenneT to connect larger, more effective wind farms to deliver affordable clean energy for millions of European homes.”

“TenneT has the technical know-how, scale, and geographical position to connect wind energy from the North Sea. This is one of the most important infrastructure projects of the century; the green transformation of the energy system is key for the decarbonisation of industry,” said Tim Meyerjürgens, COO of TenneT. “Together with our market partners, we are very proud to have achieved another important milestone. Together we secure decisive acceleration of the offshore grid development and set the course for the future European energy landscape.”

“The new long-term approach goes hand in hand with a fundamental change in values towards a strong partnership. This approach enables both sides with more flexibility, technological progress, and planning security,” said Marco Kuijpers, Director Large Projects Offshore of TenneT.  This benefits all parties and secures employment, growth, and the strengthening of supply chains. We can already see that our partners invest in extra resources and facilities.”

Hitachi Energy and Petrofac began working together in June 2022, to provide joint grid integration and associated infrastructure solutions to support TenneT’s 2GW Program.2

In the same year, Germany, the Netherlands, Denmark and Belgium agreed to install at least 65 gigawatts of offshore wind energy combined by 2030 announced with the inter-governmental Esbjerg Declaration.3 At 40 gigawatts, almost two-thirds of this capacity is accounted for by TenneT, with 20 gigawatts each in the German and Dutch North Sea sectors.

1 TenneT’s 2GW Program
2 Hitachi Energy and Petrofac to collaborate in growing offshore wind market
3 The Esbjerg Declaration

HVDC website:
https://www.hitachienergy.com/offering/product-and-system/hvdc

About Hitachi Energy Ltd.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.
https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://twitter.com/HitachiEnergy

About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

About Petrofac
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.

Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world’s evolving energy needs. Our four values – driven, agile, respectful and open – are at the heart of everything we do.

Petrofac’s core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, Southeast Asia and the United States. We have 8,000 employees based across 31 offices globally.

Petrofac is quoted on the London Stock Exchange (symbol: PFC). For additional information, please refer to the Petrofac website at www.petrofac.com

Media contacts:
Jocelyn Chang
Global Head of Public Relations & Content Strategy
Hitachi Energy
jocelyn.chang@hitachienergy.com

Sophie Reid
Group Head of Communications
Petrofac
sophie.reid@petrofac.com

Attachment

Jocelyn Chang
Hitachi Energy
jocelyn.chang@hitachienergy.com

GlobeNewswire Distribution ID 8798527

Total Unemployment Rate Decreases to 4.8% in Q4 2022, and for Saudis Decreases to 8.0%

Based on the estimates of the General Authority for Statistics’ Labor Force Survey, the overall unemployment rate in Saudi Arabia (for Saudis and non-Saudis) was 4.8% in Q4/2022, decreased from last quarter by 1.0 percentage points (pp) and from a year ago by 2.1 pp.

The unemployment rate of Saudis reached 8.0% in Q4/2022, a significant decrease of 1.9 pp compared to Q3/2022. The Labour force participation rate of Saudis remained unchanged at 52.5%, and the employment-to-population ratio of Saudis increased by 1.0 pp to 48.3%. Compared to one year ago, key Labor market indicators for Saudis improved, with rises in both the participation rate (up 1.0 pp) and the employment-to-population ratio (up 2.5 pp). In contrast, the unemployment rate declined (down 3.0 pp).

Among Saudi females, in Q4/2022, the unemployment rate decreased by 15.4%, down 5.1 pp from the last quarter and 7.1 pp from a year ago. The impressive decrease in the unemployment rate resulted from a double effect of the decrease in Labor force participation and, at the same time, employment growth. The participation rate decreased by 1.0 pp to 36.0%, while the employment-to-population ratio rose by 1.0 pp, reaching 30.4%. Among Saudi males, in Q4/2022, the unemployment rate fell to 4.2%, down 0.1 pp from the last quarter and down to 1.0 pp compared to a year ago. The Labor force participation rate and the employment-to-population ratio of Saudi males increased respectively by 1.2 pp and 1.1 pp to 65.7% and 68.5%

In Q4/2022, among Saudi female youth (15-24 years), both labour force participation and the employment-to-population ratio declined, reducing the unemployment rate. The participation rate decreased by 1.0 pp to 19.2%, the employment-to-population ratio decreased by 0.4 pp to 14.2%, and the unemployment rate fell by 1.9 pp to 26.0%. Among Saudi male youth, the unemployment rate increased, accompanied by increased labour market participation and employment stagnation. The participation rate rose by 0.7 pp to 38.3%, the employment-to-population ratio stabilized at 33.5%, and the unemployment rate rose by 1.6 pp to 12.5%.

Among the Saudi core working-age population (aged 25-54), Q4/2022 saw a decrease in the unemployment rate by 2.5 pp to 7.0%. The reduction in the unemployment rate was driven by employment growth, with the employment-to-population ratio rising by 1.6 pp to 64.1%, While the labour force participation rate for Saudis decreased by 0.1 pp, reaching 68.9%. The decrease in the unemployment rate for the Saudi core working-age population (aged 25-54) was mainly driven by a significant drop in the unemployment rate for females, down 5.8 pp from 20.4% in Q3 2022 to 14.6% in Q4 2022. For Saudis aged 55 years and over, Labor market indicators showed a minor change in Q4 of 2022 compared to the previous quarter.

Saudi job seekers used various active job search methods, with an average of 4.4 active methods per job seeker. In Q4/2022, the most frequently used active job search methods were: asking friends or relatives (used by 80.4% of job seekers), applying directly to employers (65.4%), and using the National employment platform (including Jadarah, TAQAT and Saad) used by 56.5% of job seekers.

Results of the survey showed that 57.8% of unemployed Saudi females and 43.6% of unemployed Saudi males would accept a maximum commuting time to work of one hour. Similarly, 73.0% of unemployed Saudi females and 89.1% of unemployed Saudi males indicated that they would accept work for eight hours or more per day. 94.1% of unemployed Saudis would accept employment in the private sector.

Source: Saudi Press Agency

KSrelief Distributes 250 Food Baskets in Wad Al Mahi Locality, Blue Nile State, Sudan

The King Salman Humanitarian Aid and Relief Center (KSrelief) continued distributing food aid in the Republic of Sudan as 250 Ramadan food baskets were distributed in the Wad Al Mahi Locality in Blue Nile State, benefiting 1,942 people. This comes within the framework of the Ramadan Food Baskets Distribution Project, which aims to distribute 32,850 food baskets, benefiting 197,100 people, in Khartoum, North Kordofan, Central Kordofan, West Darfur, Blue Nile, South Darfur, and Red Sea.

Source: Saudi Press Agency

Al-Yamamah’s Eastern Mosque Bears Witness to Al-Kharj’s Remarkable Najdi Architectural Style for 400 Years

A cherished religious and cultural landmark, the Eastern Mosque in Al-Yamamah, at the center of Al-Kharj governorate, is a remarkable witness of the enduring Najdi architectural style. According to historical sources, the mosque was constructed between 1050 and 1100 AH. A historical document, now kept by the heirs of the endower Al-Sa’al, who built the mosque on his agricultural land, provides evidence of the mosque’s endowment in 1209 AH.

The mosque’s architectural style was crafted to suit the prevailing climatic conditions of the region. A basement was constructed to ensure warmth for worshippers and students during winter and a cool place from the harsh summer heat. The mosque’s roof, built using tamarisk wood, is flat and features a solid, level layer to create a surface that aligns with the niche on the ground floor. This design feature allows secret prayers to be performed in the winter and audible prayers in the summer due to the moderating effect of the climate in the surrounding agricultural areas.

Abdulaziz bin Ibrahim Al-Saees, an expert on local history, said that adjacent to the mosque, a room for ablution and washing was constructed and a well was dug in the northwestern section of the mosque to provide water for both the mosque and the local community.

The mosque’s basement features openings that allow natural light and air to filter in during the day and hangers for lamps to provide illumination at night. The courtyard separates the basement area and the upper mosque, accommodating 40-60 worshippers.

The old mosque was last used in 1432 AH due to its need for restoration. As a valuable historical landmark, the mosque required being revamped by experts as part of the government’s restoration projects. The locals kept the mosque in its original state, placing barriers around it to protect it against collapsing. However, the mosque's parts have already fallen due to climatic conditions.

Dr. Abdullah bin Saad Al-Saal Al-Khalidi stated that the historical document indicates that in the early 12th century, Muhammad bin Sa’al purchased a property in Al-Yamamah using two currencies known as “zerr” and “ahmar.” The document reported that a water carrier known as “Al-Hambousiyeh” was endowed to provide water for the village. At the same time, a separate well was allocated for the mosque and its facilities.

According to historical documents, the mosque suffered severe damage in 1170 AH, but was subsequently restored. The mosque was constructed using materials sourced from the local environment, including solid, petrified mud veins and a layer of mud mixed with gypsum, a local material boiled to resemble natural gypsum, palm fronds, and twigs.

The mosque was last restored approximately 70 years ago.

Source: Saudi Press Agency