GeoComputing Launches GEN 6 RiVA Platform with AI Tool Support of Key Oil & Gas Software Vendors
GeoComputing Launches GEN 6 RiVA Platform with AI Tool Support of Key Oil & Gas Software Vendors Share
GeoComputing's RiVA private cloud platform is the most powerful platform in the E&P industry. RiVA addresses all challenges common to E&P users, such as insufficient performance, complex work environments, large data sets, local and remote locations, lack of specialty support resources, high cost and time to deploy. Highly efficient and performant, RiVA can increase productivity and accuracy so dramatically that tasks that took days on previous infrastructure can be completed in hours.
With key software vendors adding AI tools to their existing applications, GeoComputing's GEN 6 Platform ships with AI-ready GPUs and workstation profiles capable of adding AI toolkits designed to enhance operational efficiency. This approach builds insight and confidence in leveraging AI tools in the search for hydrocarbons by utilizing sophisticated algorithms within familiar applications that geoscientists and operators already trust.
To further achieve these advancements, the GEN 6 platform incorporates AI-supported GPUs from NVIDIA, providing the necessary computational power for demanding AI workloads. Additionally, the platform introduces configurable workstation profiles to accommodate varying GPU memory requirements, ensuring flexibility based on specific user needs. Recognizing modern deployment practices, the platform also supports containerization, enabling seamless integration of AI solutions that require this architecture.
'At Eliis, we are very happy to be collaborating with GeoComputing to continue our mission to accelerate and automate subsurface workflows,' said Alex Wilson, Principal Geoscience Advisor, Eliis SAS. 'By coupling the PaleoScan™ geoscience and RiVA private cloud platforms, we will develop and deliver AI solutions that will unlock new geoscience insights with unprecedented performance.'
By focusing on maintaining the integrity of the overall environment and providing a measured and controlled approach to both operational and cost efficiency as clients progress along the AI journey, GeoComputing ensures it remains a reliable partner for operators navigating the complexities of AI. By utilizing the latest edition of RiVA, operators can harness the advantages of a well-established system that supports comprehensive geoscience application workflows while seamlessly integrating AI tools both now and in the future.
The RiVA Private Cloud Platform offers a compelling alternative to the public cloud or other emerging technologies for those dealing with a tremendous amount of unstructured data with challenges that are not easy to overcome. Operators moving to the public cloud with AI initiatives that are not fully vetted often experience a degradation of the user experience that significantly increases IT operating costs, negating the offset by AI efficiencies.
'GeoComputing differentiates itself by maintaining an unwavering commitment to delivering peak performance for end users while simultaneously reducing operating costs,' said Jay Kirby, VP of Strategic Solutions at GeoComputing. 'Unlike other platforms, we achieve this balance by enabling AI from application vendors without compromising the foundational capabilities that users rely on. Our approach ensures that operators can embrace AI-enhanced workflows without the trade-offs of inflated expenses or degraded performance, providing a harmonious integration of cutting-edge technology with practical efficiency.'
Oil and gas companies looking to deploy a high-performance computing platform with support for AI tools in petro-tech applications like PaleoScan, Kingdom, Petrel and others can learn more about how the GEN 6 version of RiVA can help them get the most out of their workflows at https://www.geocomputing.com/products.html.
About GeoComputing
GeoComputing Group, founded in 2004, is an IT consultancy for oil, gas, energy, and other geoscience companies. Its services include bespoke solution design and architecture, project management, infrastructure services, application support, and data management. In addition, it offers RiVA, the most powerful platform in the E&P industry, combining core components from leading vendors into a single, highly efficient and highly performant computing environment customized for petro-technical workflows. GeoComputing's follow-the-sun support provides subject-matter experts in infrastructure, data, geoscience applications and workflows 24/7/365. For product information visit https://www.geocomputing.com/products.html and follow the company at https://www.linkedin.com/company/geocomputing-group-llc.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
30 minutes ago
- Business Wire
Orano: Solid Results for First Half of 2025
PARIS--(BUSINESS WIRE)--Regulatory News: Orano: Revenue, EBITDA and operating income up compared to the first half of 2024 18.2% growth in revenue to €2,672 M (like-for-like) EBITDA rose to €727 M (compared to €459 M in the first half of 2024) and the EBITDA margin to 27.2% (compared to 20.2% in the first half of 2024), benefiting from a favorable volume effect partly linked to the half-year variability in backlog outflow and increased production volumes in the Front End and Back End Operating income increased to €311 M (€12 M in the first half of 2024), mainly driven by strong business performance and a first half of 2024 affected by the situation in Niger Positive net income attributable to owners of the parent Adjusted net income attributable to owners of the parent 1 has improved, standing at + €25 M (compared to - €162 M for the first half of 2024), reflecting the same effects Net income attributable to owners of the parent also rose, amounting to + €109 M (compared to - €133 M for the first half of 2024), accentuated by actuarial effects on end-of-lifecycle provisions Positive net cash flow and continued decrease in net debt Net cash flow of + €428 M (- €148 M for the first half of 2024), driven by EBITDA generation and the acquisition by Sanofi of a stake in Orano Med Theranostics Net debt totaling - €0.35 bn (compared to - €0.78 bn at the end of 2024) 2025 financial outlook confirmed Revenue in the region of €5 bn EBITDA to revenue rate maintained between 23% and 25% Positive net cash flow whilst ensuring the ramp-up of the investment program The Orano Board of Directors met yesterday and approved the financial statements for the period ended June 30, 2025. Commenting on the results, Nicolas Maes, Chief Executive Officer, said: 'Sustained market prices in Mining and Front End, increased production volumes driven by our Opteam26 performance program and the dedication of our teams have enabled the group to achieve solid and improving half-year results across all indicators. This industrial and financial performance, Orano's primary strategic priority, allows us to confidently progress in the implementation of our major investment projects, to renew our resources in Mining, to increase our production capacities in the Front End, to extend and renew our Back End treatment and recycling facilities, and to accelerate our development in nuclear medicine." I. Analysis of group key financial data It should be noted that the activity of the various segments and their contribution to the group's results may vary significantly from one half-year to another, in particular due to changes in the backlog scheduling of orders and production programs during the year. For instance, in 2025, a significant portion of income and operating cash flow was generated in the first half of the year. Table of key financial data As a reminder, the comparable basis for the first half of 2024 was negatively impacted by the recognition of provisions in the amount of 198 million euros to reflect the deteriorated Mining sector conditions in Niger. The changes in the table below between the two half-years are therefore impacted by this item, particularly in terms of operating income and adjusted net income attributable to owners of the parent. Excluding this item, the contribution of Nigerien entities to the group's results for the first half of 2024 is not considered significant. As a reminder, the evolution of the situation during the second half of 2024 and Orano's loss of operational control over its three mining subsidiaries Somaïr, Cominak and Imouraren led to the group's deconsolidation of these entities at the end of 2024. The financial indicators are defined in the financial glossary in Appendix 1 – Definitions. Backlog Order intake for the first half of 2025 amounts to 1,233 million euros, of which 77% for export. As of June 30, 2025, Orano's backlog stood at 33.0 billion euros, including a conversion impact of -1.8 billion euros. The backlog corresponds to more than six years of revenue. Revenue Orano's revenue is up at 2,672 million euros at June 30, 2025, compared to 2,272 million euros at June 30, 2024 (+17.6%; +18.2% on a like-for-like basis (LFL)). The share of revenue generated with international customers was 41.3% during the first half of 2025, compared to 41.4% in the first half of 2024. Mining segment revenue totaled 913 million euros, up 14.8% compared to June 30, 2024 (+17.0% LFL). It benefited from (i) a positive volume effect in line with the distribution of the backlog between the two periods, partly offset by (ii) an unfavorable price effect linked to lower spot prices during the first half of 2025. Front End revenue totaled 679 million euros, up 19.8% compared to the first half of 2024 (+19.0% LFL), due to an increase in sales volumes linked to the expected backlog outflow. Back End revenue, which includes the Recycling, Nuclear Packages and Services, Dismantling and Services, and Projects businesses, as well as the Back End of the Future program 2, amounted to 1,074 million euros, an increase of 19.0% compared to June 30, 2024 (+19.1% LFL). This increase is mainly attributable to higher production volumes at the la Hague plant following completion of the evaporation capacity replacement work during the first half of 2024 and at the Melox plant. Revenue from Corporate and other operations, consisting primarily of Orano Med, amounted to 6 million euros, down from 7 million euros at June 30, 2024. Operating income Orano's operating income was 311 million euros, an increase of 299 million euros compared with June 30, 2024. This change can be analyzed, by activity, as follows: Higher operating income for the Mining segment, which stands at +218 million euros, versus -36 million euros at June 30, 2024. This significant change is explained by (i) a comparable base deteriorated by the impact of provisions recorded at the end of June 2024 in light of the situation in Niger and (ii) the same effects as those discussed for revenue. An increase in Front End operating income, which totals 230 million euros, against 125 million euros for the first half of 2024. This increase is explained by (i) higher volumes sold, (ii) increased production in enrichment and conversion and (iii) a reversal of provisions for impairment associated with the increase in market prices. These favorable items were offset in part by an additional end-of-lifecycle provision. Lower operating income for the Back End segment, which totals -94 million euros, compared to -52 million euros at June 30, 2024. Additional end-of-lifecycle provisions recorded during the first half of 2025 cancel out the favorable volume effect on revenue. A decrease in operating income for Corporate and other operations, which stands at -42 million euros, compared to -24 million euros at the end of June 2024. This change is mainly due to the increase in Orano Med expenditure, in accordance with its development plan and, to a lesser extent, the costs of studies on the battery program. Adjusted net income attributable to owners of the parent Adjusted net income attributable to owners of the parent reflects Orano's industrial performance independently of the impact of the financial markets on the return on earmarked assets (which must be appreciated over the long term) and of regulatory changes or of discount rates related to end-of-lifecycle commitments. The definition of adjusted net income attributable to owners of the parent is provided in Appendix 1 of this document. Adjusted net income attributable to owners of the parent was +25 million euros as of June 30, 2025, compared to -162 million euros at June 30, 2024. Based on the operating income discussed above, adjusted net income attributable to owners of the parent is obtained by adding the following main items: Adjusted financial income, which stands at -144 million euros at June 30, 2025, compared with -155 million euros at June 30, 2024. This improvement is mainly due to a decrease in the cost of financial debt. The adjusted net tax expense, which stands at -70 million euros, compared with -46 million euros in the first half of 2024. Net income attributable to non-controlling interests, which stands at -76 million euros, compared to +24 million euros in the first half of 2024, in connection with the share of income attributable to minority shareholders. Net income attributable to owners of the parent Reported net income attributable to owners of the parent is +109 million euros at June 30, 2025, compared with -133 million euros at June 30, 2024. Between the two periods, the increase in adjusted net income, mainly driven by strong business performance, has been supplemented by the favorable impact of the change in the discount rate of end-of-lifecycle liabilities. The following table reconciles the adjusted net income attributable to owners of the parent with the reported net income attributable to owners of the parent by reintegrating the financial impacts related to end-of-lifecycle commitments: Operating cash flow Orano's EBITDA at June 30, 2025 stands at 727 million euros, up compared with June 30, 2024 when it stood at 459 million euros. This increase between the two periods largely reflects the same operational improvements observed in operating income. The EBITDA to revenue rate was 27.2% at the end of June 2025, compared to 20.2% for the first half of 2024, with an improvement in both value and margin rates for the Mining, Front End and Back End sectors. The change in operating WCR is 161 million euros, representing a positive contribution of +129 million euros compared to the change during the first half of 2024. This increase is mainly associated with a more favorable collection schedule during the first half of 2025 and a decrease in Mining inventories. Net investments amounted to 480 million euros at June 30, 2025, compared to 401 million euros at June 30, 2024. This increase of 79 million euros is mainly derived from (i) the commissioning of the South Tortkuduk mining field in Kazakhstan and (ii) work to extend the capacity of the George Besse II plant in the enrichment sector. Orano's operating cash flow rose to 407 million euros during the first half of 2025, compared to 90 million euros during the first half of 2024. Net cash flow from company operations Based on the operating cash flow of 407 million euros, the net cash flow from company operations is obtained by adding: the cash cost on financial transactions for -120 million euros (compared to -102 million euros at June 30, 2024). This change is due to (i) an increase in interest on customer advances and (ii) a temporary effect related to interest paid on bond issues; cash consumption linked to end-of-lifecycle operations of -13 million euros (compared with -11 million euros at June 30, 2024); tax cash of -71 million euros (compared to -40 million euros at June 30, 2024). This change is mainly due to an increase in the amounts paid into Mining; and other items, totaling +225 million euros (compared to -84 million euros at June 30, 2024), linked to Sanofi's acquisition of a stake in Orano Med Theranostics in accordance with the agreements signed in October 2024. Net cash flow from company operations thus amounts to +428 million for the first half of 2025, compared to -148 million euros for the first half of 2024. Net financial debt and cash At June 30, 2025, Orano has 1.5 billion euros in cash, plus 0.8 billion euros in cash management current financial assets. This cash position is strengthened by an undrawn syndicated credit facility of 880 million euros, maturing at the end of May 2029. The group also benefits from a long-term credit facility of 400 million euros with the European Investment Bank, not used to date, to finance the project to extend the capacity of the George Besse II uranium enrichment plant. The group's net financial debt totals 350 million euros at June 30, 2025, compared with 775 million euros at December 31, 2024. II. Events since the last publication The European Investment Bank (EIB) and Orano signed a 400 million euro loan agreement intended to partly finance the investments in the extension project at the Georges Besse II uranium enrichment plant in Tricastin (Drôme / Vaucluse), France. This financing is part of the European strategy to reduce the European Union's dependence on fossil fuel imports and accelerate the transition to low-carbon energy sources. On March 12, 2025, Orano and Navoiyuran signed an agreement paving the way for the industrial development of the South Djengeldi uranium deposit in Uzbekistan as part of the Nurlikum Mining joint venture. The agreement also marks the acquisition by Itochu Corporation of a minority stake in the joint venture. Based on the resources certified to date, the South Djengeldi project should ensure production over a decade, with a peak of 700 metric tons of uranium per year. On March 17, 2025, the French President chaired the 4 th Nuclear Policy Council (CPN or Conseil de Politique Nucléaire in French). The CPN approved the action plan to secure the front end of the cycle. The CPN also confirmed the continuation of investments in the 'Back End of the Future' program at the la Hague site and validated the principle of financing this program mainly carried by EDF with a governance led by Orano alongside EDF, the CEA and State services. On May 19, 2025, the government of Mongolia and Orano reaffirmed the strong and long-term partnership between the two parties and welcomed the progress made since the signing of the investment agreement on January 17, 2025, for the development of the Zuuvch-Ovoo uranium mine project in Mongolia. They underlined their shared commitment to advance this project in accordance with international best practices, with particular attention paid to radiation safety, environmental protection, operational safety and the involvement of local communities. On June 19, 2025, the State of Niger declared its intention to appropriate Somaïr, a joint venture owned since 1968 by Orano and Sopamin, which represents Niger in the shareholding structure of the mining company. This expropriation process marks a new phase in the military authorities' plans to oust Orano from Niger since they took power in 2023, despite the group's numerous attempts to open avenues for dialogue. Orano stands firmly against this systematic policy of seizing mining assets, in violation of the agreements binding the group and the State of Niger in Somaïr. Orano intends to claim compensation for all of its losses and assert its rights to the inventories associated with Somaïr production to date. On July 3, mining company Katco and its shareholders, Orano and NAC Kazatomprom JSC, celebrated the official opening of the new uranium processing plant, marking the successful implementation of the South Tortkuduk project and the full launch of operations at the mining site. Production from the South Tortkuduk plot will gradually replace the areas currently exploited, allowing Katco to increase its nominal production by 4,000 metric tons per year. III. Financial outlook for 2025 The group's financial outlook for 2025 is confirmed. Orano's targets for the end of the year: revenue in the region of €5.0 bn; EBITDA to revenue rate between 23% and 25%; a positive net cash flow whilst ensuring the ramp-up of the investment program. About Orano As a recognized international operator in the field of nuclear materials, Orano delivers solutions to address present and future global energy and health challenges. Its expertise and mastery of cutting-edge technologies enable Orano to offer its customers high value-added products and services throughout the entire fuel cycle. Every day, the Orano group's 17,500 employees draw on their skills, unwavering dedication to safety and constant quest for innovation, with the commitment to develop know-how in the transformation and control of nuclear materials, for the climate and for a healthy and resource-efficient world, now and tomorrow. Orano, giving nuclear energy its full value. Upcoming events August 1, 2025 - 09:00 CEST - Webcast and conference call 2025 Half-year results To access the results presentation, which will be held today at 9:00 am (Paris time), please follow the links below: French version: English version: Note Status of the 2025 half-year financial statements with regard to the audit: The half-year consolidated financial statements have been reviewed. The limited review report is in the process of being issued. Important information This document and the information it contains do not constitute an offer to sell or buy or a solicitation to sell or buy Orano's debt securities in the United States or in any other country. This document contains forward-looking statements relative to Orano's financial position, results, operations, strategy and outlook. These statements may include indications, forecasts and estimates as well as the assumptions on which they are based, and statements related to projects, objectives and expectations concerning future operations, products and services or future performance. These forward-looking statements may generally be identified by the use of the future or conditional tenses, or forward-looking terms such as 'expect', 'anticipate', 'believe', "plan', 'could", 'predict' or 'estimate', as well as other similar terms. Although Orano's management believes that these forward-looking statements are based on reasonable assumptions, bearers of Orano shares are hereby advised that these forward-looking statements are subject to numerous risks and uncertainties that are difficult to foresee and generally beyond Orano's control, which may mean that the expected results and developments differ significantly from those expressed, induced or forecast in the forward-looking statements and information. These risks include those developed or identified in Orano's public documents, including those listed in Orano's Annual Activity Report for 2024 (available online on Orano's website: The attention of bearers of Orano shares is drawn to the fact that the realization of all or part of these risks is likely to have a significant unfavorable impact on Orano. Thus, these forward-looking statements do not constitute guarantees as to Orano's future performance. These forward-looking statements can be assessed only as of the date of this document. Orano makes no commitment to update the forward-looking statements and information, except as required by applicable laws and regulations. Appendix 1 - Definitions Like-for-like (LFL): at constant exchange rates and consolidation scope. Net operating working capital requirement (Net operating WCR): Net operating WCR represents all of the current assets and liabilities related directly to operations. It includes the following items: net inventories and work in process; net trade accounts receivable and related accounts; contract assets; advances paid; other accounts receivable, accrued income and prepaid expenses; less: trade payables and related accounts, contract liabilities and accrued liabilities. Note: Net operating WCR does not include non-operating receivables and payables such as income tax liabilities, amounts receivable on the sale of non-current assets, and liabilities in respect of the purchase of non-current assets. Backlog: The backlog is determined on the basis of firm orders, excluding unconfirmed options, using the contractually set prices for the fixed component of the backlog and, for the variable component, the market prices based on the forecast price curves prepared and updated by Orano. Orders in hedged foreign currencies are valued at the rate hedged. Non-hedged orders are valued at the rate in effect on the last day of the period. With respect to long-term contracts in progress at the closing date, for which revenue is recognized in accordance with the percentage-of-completion, the amount included in the backlog corresponds to the difference between the forecast revenue of the contract at completion and the revenue already recognized for this contract; it therefore includes indexation assumptions and contract price revision assumptions taken into account by the group to value the forecast revenue at completion. Net cash flow from company operations: Net cash flow from company operations is equal to the sum of the following items: operating cash flow; cash flow from end-of-lifecycle operations; change in non-operating receivables and liabilities; repayment of lease liabilities; financial income paid; tax on financial income paid; dividends paid to minority shareholders of consolidated subsidiaries; net cash flow from operations sold, discontinued and held for sale, and cash flow from the sale of those operations; acquisitions and disposals of current and non-current financial assets, with the exception of bank deposits held for margin calls on derivative instruments or collateral backed by structured financing and cash management financial assets. Net cash flow from company operations thus corresponds to the change in net debt (i) with the exception of transactions with Orano SA shareholders, accrued interest not yet due for the financial year and currency translation differences and (ii) including accrued interest not yet due for financial year N-1. Operating cash flow (OCF): Operating cash flow (OCF) represents the amount of cash flows generated by operating activities before corporate taxes and taking into account the cash flows that would have occurred in the absence of offsetting between the payment of income taxes and the repayment of the research tax credit receivable. It is equal to the sum of the following items: EBITDA; plus the decrease or minus the increase in operating working capital requirement between the beginning and the end of the period (excluding reclassifications, currency translation differences and changes in consolidation scope); minus acquisitions of tangible and intangible assets, net of changes in accounts payable related to fixed assets; plus proceeds from disposals of tangible and intangible assets included in operating income, net of changes in receivables on the disposal of non-current assets; plus prepayments received from customers during the period on non-current assets; plus acquisitions (or disposals) of consolidated companies (excluding equity associates), net of the cash acquired. Net debt: Net debt is defined as the sum of all short- and long-term financial liabilities, less cash and cash equivalents, financial instruments recorded on the assets side of the balance sheet including financial liabilities, bank deposits constituted for margin calls on derivative instruments and collateral backed by structured financing and cash management financial assets. EBITDA: EBITDA is equal to operating income restated for net depreciation, amortization and operating provisions (excluding net impairment of current assets) as well as net gain on disposal of tangible and intangible assets, gains and losses on asset leases and effects of takeovers and losses of control. EBITDA is restated as follows: to reflect the cash flows related to employee benefits (benefits paid and contribution to coverage assets) in lieu of the service cost recognized; exclude the cost of end-of-lifecycle operations for the group's nuclear facilities (dismantling, waste retrieval and conditioning) carried out during the financial year. Cash flows from end-of-lifecycle operations: This indicator encompasses all of the cash flows linked to end-of-lifecycle operations and to assets earmarked to cover those operations. It is equal to the sum of the following items: revenue from the portfolio of earmarked assets, cash from disposals of earmarked assets; full and final payments received for facility dismantling; minus acquisitions of earmarked assets; minus cash spent during the year on end-of-lifecycle operations; minus full and final payments paid for facility dismantling. Adjusted net income attributable to owners of the parent: This indicator is used to reflect Orano's industrial performance independently of the impact of financial markets and regulatory changes in respect of end-of-lifecycle commitments. It comprises net income attributable to owners of the parent, adjusted for the following items: return on earmarked assets; impact of changes in discount and inflation rates; unwinding expenses on end-of-lifecycle operations (regulated scope); significant impacts of regulatory changes on end-of-lifecycle commitment estimates (adjustment impacting operating income); related tax effects. Appendix 2 - Income statement Appendix 3 - Consolidated statement of cash flows Appendix 4 - Condensed balance sheet (In millions of euros) June 30, 2025 Dec. 31, 2024 Net goodwill 1,243 1,348 Tangible and intangible assets 10,899 10,661 Operating working capital requirement – assets 3,585 2,881 Cash 1,544 1,273 Deferred tax assets 154 207 End-of-lifecycle assets 8,550 8,453 Other assets 1,170 982 Total assets 27, 145 25, 805 Equity 3,137 2,736 Employee benefits 518 528 Provisions for end-of-lifecycle operations 9,309 9,059 Other provisions 2,757 2,712 Operating working capital requirement – liabilities 7,925 7,352 Financial liabilities 2,705 2,722 Other liabilities 793 695 Total liabilities 27, 145 25, 805 Expand Appendix 5 - Orano key figures (In millions of euros) June 30, 2025 June 30, 2024 Change H1 2025/ H1 2024 Revenue 2, 672 2, 272 + € 400 M of which: Mining 913 795 + € 118 M Front End 679 567 + € 112 M Back End 1,074 903 + € 171 M Corporate & other operations * 6 7 - € 1 M EBITDA 727 459 + € 268 M of which: Mining 301 243 + € 58 M Front End 302 190 + € 112 M Back End 155 41 + € 114 M Corporate & other operations * (31) (15) - € 16 M Operating income 311 12 + € 299 M of which: Mining 218 (36) + € 254 M Front End 230 125 + € 105 M Back End (94) (52) - € 42 M Corporate & other operations * (42) (24) - € 18 M Operating cash flow 407 90 + € 317 M of which: Mining 285 122 + € 163 M Front End 131 68 + € 63 M Back End 99 22 + € 77 M Corporate & other operations * (108) (122) + € 14 M Expand Change in revenue at constant scope and exchange rates (like-for-like basis): Appendix 6 - Sensitivities Update of the sensitivity of Orano's net cash flow generation to market indicators As part of the update of its trajectories, the group has updated its sensitivities in relation to the generation of cash flow from company operations, which are presented below: These sensitivities were assessed independently from one another. Appendix 7 - Effects of adjustments on components of Adjusted net income _____________________________ 1 See definition in Appendix 1. 2 The Back End of the Future program includes all investment projects for the renewal of treatment-recycling facilities. This program, the ramp-up of which began in 2025, is included in the Back End sector. Expand
Business Wire
2 hours ago
- Business Wire
Median Technologies Has Completed a Capital Increase of € 23.9 Million
SOPHIA ANTIPOLIS, France--(BUSINESS WIRE)--Regulatory News: Not to be published, distributed or disseminated, directly or indirectly, in the United States of America, Australia, Canada, South Africa and Japan Median Technologies (FR0011049824, ALMDT, PEA-PME scheme eligible, 'Median' or the 'Company'), manufacturer of eyonis®, a suite of artificial intelligence (AI) powered Software as a Medical Device (SaMD) for early cancer diagnosis, and a leading provider of AI-based image analyses and central imaging services for oncology drug developers, today announces the success of its capital increase targeting institutional and retail investors through a priority subscription period, a public offering, and a private placement with qualified investors (together, the 'Offering'). The Offering was exclusively open to investors, whether retail or institutional, subscribing for a minimum amount of €100,000 per investor. As a result, subscription requests for a total amount below €100,000 per investor were not allocated. The Offering, launched on July 23, 2025, amounted to a total gross proceed of 23.9 million euros, including the issuance premium. The Company exercised the extension clause granted by the Board of Directors as part of the transaction for an amount of 1.9 million Euros. "I would like to thank all our investors—both institutional and individual—for their support and trust during this capital increase. We are particularly proud to have expanded and strengthened our shareholder base with the participation of renowned Swedish, US, French, German and UK investors (Lungstrom Family Office, Lion Point Life Science Partners, Celestial Successor Fund, Matignon Finance, Invus, Herald Investment Trust, et Tragara Holdings). We also welcome the continued commitment of representatives of the Brag family and friends, who have renewed their trust in the future of the Company. 'This equity financing adds to the up to €37.5 million EIB financing line signed in July 2025 and allows us to meet the contractual conditions to draw down the first €19 million tranche. The Company's cash runway is now extended through the fourth quarter of 2026, and potentially way beyond with the full exercise of the warrants, which can generate additional equity of €51.7 million', said Fredrik Brag, CEO and Founder of Median Technologies. 'This transaction provides us with the solid financial resources needed for the commercial launch of our Software as a Medical Device eyonis® LCS in the United States, while also strengthening our position to finalize negotiations with commercial partners for the distribution of our eyonis® LCS product. Furthermore, the funds raised will also enable us to continue and accelerate our technological and clinical development efforts for the next medical imaging software devices in our eyonis® suite—namely, eyonis® IPN for the incidental detection of lung cancer, and eyonis® HCC for the early diagnosis of primary liver cancer', Brag added. Main terms of the Offering The Offering, carried out with the cancellation of shareholders' preferential subscription rights and including a five-trading-day subscription period (on both irreducible and reducible bases), amounted to total gross proceeds of 23.9 million euros, including the issuance premium. In accordance with the Regulation (EU) 2017/1129, the Offering was addressed to investors, whether retail or institutional, who will subscribe to it for a total consideration of at least €100,000 per investor. In total, the Offering resulted in the issuance of 14,424,541 new ordinary shares of the Company (the 'New Shares'), each accompanied by a warrant (the 'Warrants' and, together with the New Shares to which they are attached, the 'ABSA'). The new ABSA were issued at a price of €1.66 per ABSA, including the issuance premium, representing approximately 72.3% of the Company's existing share capital on a non-diluted basis. This price reflects a nominal discount of 17.9% compared to the volume-weighted average price (VWAP) of the Company's shares over the twenty trading days preceding and through the date of July 18, 2025. The Offering was allocated as follows: On an irreducible and reducible basis during the priority subscription period to existing shareholders: 9,201,890 new ABSA, representing 64% of the capital increase, As part of the public offering in France: 241,224 new ABSA, representing 2% of the capital increase, As part of the Global placement targeting qualified investors (the 'Global Placement'), which included (a) a private placement to a limited number of accredited investors (as defined in Rule 501(a) of the U.S. Securities Act of 1933 (the 'Securities Act')) and/or qualified institutional buyers (as defined in Rule 144A of the Securities Act), and (b) an international offering outside the United States in 'offshore transactions' pursuant to Regulation S of the Securities Act ('Regulation S'), (A) within the European Union (including France), to qualified investors as defined in Article 2(e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017, as amended, and (B) outside the European Union (excluding South Africa, Japan, Australia, and Canada) in accordance with applicable laws in each relevant jurisdiction: 4,981,427 new ABSA, representing 35% of the capital increase. Settlement and delivery of the ABSA and their admission to trading on the Euronext Growth Paris market is expected to take place on August 5, 2025. The New Shares will be of the same class and fully fungible with the Company's existing ordinary shares, will carry all rights attached to existing shares, and will be admitted to trading on Euronext Growth Paris under the same ISIN code: FR0011049824 - ALMDT. Two warrants attached to the new shares entitle the holder thereof to subscribe for three new ordinary shares of the Company at a total exercise price of €7.17, i.e., an exercise price of €2.39 per new ordinary share. The theoretical value of each warrant is €0.90 per new ordinary share, based on the Black-Scholes model and assuming a volatility of 76%. The warrants will be detached from the new shares immediately upon issuance and will be admitted to trading on Euronext Growth under ISIN code FR0014011D04. The full exercise of the 14,424,541 warrants subscribed as part of the Offering would represent additional gross proceeds of 51.7 million euros. The warrants will expire 30 months after their issuance date, i.e., on 5 February 2028. The Offering did not and will not require the preparation of a prospectus subject to approval by the French Financial Markets Authority (Autorité des Marchés Financiers), in accordance with Article 1.4.d) of Regulation (EU) 2017/1129 of the European Parliament and of the Council dated June 14, 2017, as amended. Intended use of the transaction's net proceeds Approximatively one-third of the net proceeds will be used to support eyonis® Lung Cancer Screening (LCS) progress towards major milestones consisting of commercial launch and sales development in the U.S, Approximatively one-third of the net proceeds will be used to accelerate the expansion of Median's proprietary suite of Software as a Medical Device, eyonis®, for image-based early cancer diagnosis, notably the scientific and clinical development of Software as a Medical Devices for incidental findings of pulmonary nodules (eyonis® IPN) and liver cancer early diagnosis (eyonis® HCC), and Approximately one-third of the net proceeds will be used to finance the Company's general corporate needs and to support its cash position through the fourth quarter of 2026. Furthermore, successful settlement and delivery of the Offering is expected to allow the Company to fulfill its contractual obligations with the European Investment Bank (EIB), enabling the drawing down of the €19 million first tranche of the new financing facility without delay. The signature of the new EIB financing facility of a total amount of €37.5 million had been announced on July 11, 2025. Impact of the Offering on the Company's shareholding structure Financial intermediary TP ICAP Midcap acted as global coordinator and bookrunner for the Offering. Risk factors The principal risk factors related to the Offering are spelled out below: Shareholders who did not subscribe to the Offering will have their percentage interest in the Company's equity diluted as a result of the issuance of the New Shares, and may experience further dilution upon the potential exercise of the Warrants as well as, more generally, through any future capital increases that may be required to support the Company's financing needs. The market price of the Company's shares could fluctuate and fall below the subscription price of the ABSAs and/or not reach a sufficient level to make the exercise of the BSAs attractive. The volatility and the liquidity of the Company's shares could fluctuate significantly. Those other risk factors relating to the Company and its activities contained in Note 6, Section ' P. Specific Risk Factors' to the Company's Annual Financial Report, available on the Company's website in the 'Investors' section. Forward-looking statements This press release contains forward-looking statements. These statements are not historical facts. They include projections and estimates, as well as the assumptions on which these are based, statements concerning projects, objectives, intentions, and expectations with respect to future financial results, events, operations, services, product development and potential, or future performance. These forward-looking statements can often be identified by the words "expects," "anticipates," "believes," "intends," "estimates" or "plans" and any other similar expressions. Although Median's management believes that these forward-looking statements are reasonable, investors are cautioned that forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of Median Technologies, that could cause actual results and events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. All forward-looking statements in this press release are based on information available to Median Technologies as of the date of the press release. Median Technologies does not undertake to update any forward-looking information or statements, subject to applicable regulations, in particular Articles 223-1 et seq. of the General Regulation of the French Autorité des Marchés Financiers. About Median Technologies: Pioneering innovative software as a medical device and imaging services, Median Technologies harnesses cutting-edge AI to enhance the accuracy of early cancer diagnoses and treatments. Median's offerings include iCRO, which provides medical image analysis and management in oncology trials, and eyonis®, an AI/ML tech-based suite of software as a medical device (SaMD). Median empowers biopharmaceutical entities and clinicians to advance patient care and expedite the development of novel therapies. The French-based company, with a presence in the U.S. and China, trades on the Euronext Growth market (ISIN: FR0011049824, ticker: ALMDT). Median is also eligible for the French SME equity savings plan scheme (PEA-PME). For more information, visit Disclaimer This announcement is an advertisement and not a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017, as amended (the ' Prospectus Regulation '). The offer of Median Technologies shares described above does not constitute a public offering requiring the publication of a prospectus to be approved by the Autorité des Marchés Financiers or a document including the information provided for in Annex IX of the Prospectus Regulation. Median Technologies draws the public's attention to Note 6, section 'P. Specific Risk Factors' of its 2024 Annual Financial Report, published on April 29, 2025, and available free of charge on its website at This press release does not constitute and shall not be construed as an offer to the public, a solicitation, or a sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The offer of Median Technologies shares described above has been made in the context of (i) a share capital increase without preferential subscription rights through a public offering and with a priority subscription right, on a irreducible and reducible basis, to the benefit of shareholders in France, and (ii) a global placement for institutional investors in France and outside of France, but excluding, in particular, United States, Canada, Japan, South Africa and Australia. The Offering was addressed exclusively to investors subscribing for at least €100,000 per investor. With respect to Member States of the European Economic Area, no action has been taken or will be taken to permit a public offering of the securities referred to in this press release requiring the publication of a prospectus or a document including the information provided for in Annex IX of the Prospectus Regulation in any such Member State. Therefore, such securities may not be and shall not be offered in any Member State other than in accordance with the exemptions of Article 1(4) of the Prospectus Regulation, otherwise, in cases not requiring the publication of a prospectus under Article 3 of the Prospectus Regulation or an information document pursuant to Articles 1(4) and 1(5) of the Prospectus Regulation and/or the applicable regulations in such Member State This press release and the information it contains are being distributed to and are only intended for persons who are (x) outside the United Kingdom or (y) in the United Kingdom who are qualified investors (as defined in the Prospectus Regulation as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) and are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the ' Order '), (ii) high net worth entities and other such persons falling within Article 49(2)(a) to (d) of the Order (' high net worth companies ', 'unincorporated associations', etc.) or (iii) other persons to whom an invitation or inducement to participate in investment activity (within the meaning of Section 21 of the Financial Services and Market Act 2000) may otherwise lawfully be communicated or caused to be communicated (all such persons in (y)(i), (y)(ii) and (y)(iii) together being referred to as ' Relevant Persons '). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire securities to which this press release relates will only be engaged with Relevant Persons. Any person who is not a Relevant Person should not act or rely on this press release or any of its contents. This press release may not be distributed, directly or indirectly, in or into the United States. This press release and the information contained therein does not constitute an offer of securities for sale, nor the solicitation of an offer to purchase, Median Technologies' securities in the United States or any other jurisdiction where restrictions may apply. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the 'U.S. Securities Act'). The securities of Median Technologies have not been and will not be registered under the Securities Act, and Median Technologies does not intend to conduct a public offering in the United States. The distribution of this press release may be subject to legal or regulatory restrictions in certain jurisdictions. Any person who comes into possession of this press release must inform him or herself of and comply with any such restrictions. Any decision to subscribe for or purchase the shares or other securities of Median Technologies must be made solely based on information publicly available about Median Technologies. Such information is not the responsibility of TP ICAP Midcap and has not been independently verified by TP ICAP Midcap.
Entrepreneur
4 hours ago
- Entrepreneur
How Juliet Barratt Turned Career Doubts into a £200 Million Success Story
You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. As the co-founder and former CMO of Grenade, a Solihill founded performance‑nutrition brand, she helped grow a household name from humble beginnings into a £200m powerhouse in the health and performance nutrition industry. With a sharp instinct for branding and an unwavering appetite for calculated risk, Juliet played a pivotal role in scaling Grenade from a living-room idea to a globally distributed brand. Today, she is a mentor, investor and one of the UK's leading entrepreneur speakers, known for her straight-talking advice on resilience, business leadership, and navigating the challenges of scale. In this exclusive interview with Entrepreneur UK, Juliet reflects on her entrepreneurial journey, the lessons she learned building a high-growth company from scratch, and why authenticity is the most underrated tool in business. You began your career in education. What inspired the leap into entrepreneurship? It's so difficult because I don't think anyone ever sets out to be an entrepreneur. I had a teaching background. So I had a very traditional school, university, then qualified as a teacher, but I was absolutely awful. So I was like Cameron Diaz in Bad Teacher, but not as hot. So it was never my vocation. And actually, I think when you have a job first, you realise what you do want to do and what you don't want to do. So I found my life being ruled by a bell, and it just wasn't for me. I had to be certain places at certain times, and I just didn't like that. So I then left teaching and worked for a national charity doing training to try and get young people to experience risk. I was always a bit of a risk taker. So I met Al - the other founder in the business - on a very drunken night out - and went to work for his distribution business, selling other people's products to gyms and health clubs. And we realised very early on that we could do something ourselves, hence the starting of Grenade. You helped turn Grenade into a £200m success. What were the most important lessons along the way?Everything - resilience, stubbornness, how to deal with things when it goes wrong, but just the fact that you have to do everything. And everyone always says, what's the one thing that you did in your business that made it so successful? And there just wasn't one thing. We had to do everything. But we weren't trained businesspeople. So we didn't go to university to have a business degree or an MBA or anything like that. So everything that we did in Grenade, we learned on the job. And there was definitely a case of winging it sometimes. I know it would be ChatGPT now, but we were googling how to do a barcode and how to do this and how to do that. It was learning on the job. In your experience, what are the defining qualities of a successful entrepreneur? So, to be an entrepreneur, I think you need to be a good all-rounder. So you need to be stubborn, you need to be determined, you need to have a clear vision. It's all about following your gut feeling and having genuine belief in what you're doing. But also, it's being able to do everything. So driving a forklift, looking at the numbers, looking at the branding, testing products - so it's about actually getting involved in every stage of that business and having your eyes on that. So I learned how to do graphic design, I learned to drive a forklift very, very badly. We learned about forecasts and P&L and spreadsheets and everything else. And it's about knowing every aspect of your business. How can established businesses encourage a start-up mentality within their teams? It's really difficult because a corporate background and start-ups are very different. But I think it's about encouraging staff to be entrepreneurial. So if there's a process that's been done in a business, and it's been done and it's been working perfectly well for 10, 15 years, that's great. But someone with that entrepreneurial mindset might look at it in a completely different way. So for example, we employed at Grenade an Finance Director who was from a very corporate background. He had a very different mindset and viewed things very differently from Al and I, who were very entrepreneurial. The two balanced each other out. So I'd encourage all businesses, if you've got people with that entrepreneurial mindset, to give them a problem to solve, because I guarantee they'll look at it in a very, very different way.
