Latest news with #Actual
Business Upturn
2 days ago
- Business
- Business Upturn
Bowen Acquisition Corp Receives NASDAQ Notification of Non-Compliance with Listing Rules
New York, NY, May 29, 2025 (GLOBE NEWSWIRE) — Bowen Acquisition Corp (NASDAQ: BOWN) ('BOWN'), a special purpose acquisition company, announced that on May 28, 2025, it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market ('NASDAQ') advising the Company that the Company does not comply with NASDAQ's Listing Rule 5250(c)(1) for continued listing because NASDAQ has not received the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025 (the 'Form 10-Q'). NASDAQ has informed the Company that it has until July 28, 2025 to submit a plan to regain compliance with respect to this delinquent report. If NASDAQ approves the Company's plan, it has the discretion to grant the Company an extension of up to 180 calendar days from the due date of the Form 10-Q (or until November 17, 2025) to regain compliance. The Company is working diligently to complete the Form 10-Q. If the Company is unable to file the Form 10-Q by July 28, 2025, it intends to file a plan to regain compliance with NASDAQ. This notification has no immediate effect on the listing of the Company's securities on NASDAQ. There can be no assurance, however, that the Company will be able to regain compliance with the listing requirements discussed above or otherwise satisfy the other NASDAQ listing criteria. About Bowen Acquisition Corp Bowen Acquisition Corp is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As previously disclosed, Bowen has entered into a definitive agreement for a business combination with Shenzhen Qianzhi BioTechnology Co., Ltd. Forward Looking Statements This press release includes certain 'forward-looking' statements, as that term is defined under the federal securities laws. Actual results may differ from expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements generally are identified by the words or phrases such as 'aspire,' 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may,' 'will,' 'will be,' 'will continue,' 'will likely result,' 'could,' 'should,' 'believe(s),' 'predicts,' 'potential,' 'continue,' 'future,' 'opportunity,' seek,' 'intend,' 'strategy,' or the negative version of those words or phrases or similar expressions are intended to identify such forward-looking statements. You should not place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date hereof, and, except as required by law, the Company assumes no obligation and does not intend to update any forward-looking statement to reflect events or circumstances after the date hereof. For investor and media inquiries, please contact: Jiangang LuoChief Executive Officer [email protected]
Business Wire
21-05-2025
- Business
- Business Wire
At COMPUTEX 2025, Synology Debuts PAS7700: Enterprise NVMe Powerhouse with Active-Active Architecture and 2M IOPS
TAIPEI, Taiwan--(BUSINESS WIRE)--During an invite-only event Synology unveiled PAS7700 the company's next generation storage solution for the enterprise. Featuring active-active NVMe architecture and all-flash storage, PAS7700 is engineered to deliver uninterrupted, high-performance services for mission-critical workloads. 'PAS7700 is the culmination of Synology's 25 years of engineering expertise in data management and storage,' said Kenneth Hsu, Director of the System Group at Synology. 'By combining our deep software and hardware development experience and closely collaborating with our enterprise customers and partners, we've engineered PAS7700 to deliver ultra-high performance at a price point previously unseen in the enterprise storage market.' Combining dual-controllers with 48 NVMe SSD bays in a space-efficient 4U chassis, PAS7700 scales seamlessly to 1.65 PB of raw capacity with the addition of seven expansion units. PAS7700 features comprehensive support for a range of file and block protocols including NVME-oF. With redundant memory upgradable to 2,048 GB* across both controllers and support for high-speed 100GbE networking, PAS7700 delivers exceptional performance, availability, and scalability to meet enterprise storage demands. Exceptional performance Optimized for demanding workloads, PAS7700 leverages an all NVMe array to deliver millisecond-grade low latency and up to 2 million IOPS and 30GB/s sequential throughput**. Designed for mission-critical workloads PAS7700 is built on an active-active dual-controller architecture to deliver uninterrupted operations for mission-critical workloads. Designed with security at its core, PAS7700 features robust data protection tools including immutable snapshots, advanced replication and flexible offsite tiering ensuring end-to-end data integrity and resilience. Availability For more information about early testing programs, please visit: *Memory module is upgradable to 1,024 GB per node; 2,048 GB for the whole PAS7700 system. **Performance figures are obtained through internal testing by Synology. Actual performance may vary depending on the testing environment, usage, and configuration. Please refer to the Synology performance page for detailed information.
Yahoo
14-05-2025
- Business
- Yahoo
Q1 2025 NET Power Inc Earnings Call
Bryce Mendes; Director, Investor Relations; NET Power Inc Daniel Rice; Chief Executive Officer, Director; NET Power Inc Marc Horstman; Chief Operating Officer; NET Power Inc Operator Greetings, and welcome to the NET Power Inc. first-quarter 2025 earnings call. (Operator instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Bryce Mendes, Director of Investor Relations. You may begin. Bryce Mendes Thank you. Good morning, and welcome to NET Power's first-quarter 2025 earnings conference call. With me on the call today, we have our Chief Executive Officer, Danny Rice; and our Chief Operating Officer, Marc Horstman. Yesterday, we issued our earnings release for the first quarter of 2025, which can be found on our Investor Relations website at During this call, our remarks may include forward-looking statements. Actual results may differ materially from those stated or implied by forward-looking statements due to risks and uncertainties associated with our business. These risks and uncertainties are discussed in our SEC filings. Please note that we assume no obligation to update any forward-looking statements. With that, I'll now pass it over to Danny Rice, NET Power's Chief Executive Officer. Daniel Rice Thanks, Bryce. Good morning, everyone. Thanks for joining NET Power's first-quarter earnings call. I am pleased to share an update on our progress to deliver clean, reliable power with our proprietary NET Power cycle. Before diving into our updates, I'd like to welcome Marc Horstman, our new Chief Operating Officer, who recently stepped into this role. Marc brings over 20 years of experience in the power sector, and his expertise in product development and operational execution is already proving invaluable as we sharpen our focus on cost optimization and commercial success. As we outlined on our last call, we've established a few focus areas for 2025. First, we're working to improve the project economics for our first utility scale plant, mainly by reducing the total installed cost. Second, we're working to determine a viable commercial pathway to a highly competitive levelized cost of energy, or LCOE for short, mainly through a combination of realizing improvements in cycle thermal efficiencies and reduction in per unit capital costs. We expect to realize fairly meaningful cost reductions with multi-unit deployments, particularly in locations with coastal access. In this year, we're working to quantify the savings with greater accuracy. And our third focus area is moving the ball down the field with our La Porte testing, which will meaningfully improve our performance expectations for our commercial scale clean power plants. We're in a unique position where we possess the capital needed to achieve these three goals in a very cost effective manner. We have no debt, and we exited the first quarter with approximately $500 million of cash and cash equivalents earning roughly 5% interest per year. For the full year, we're budgeting to spend approximately $190 million, net of interest income, comprised of $45 million for G&A, $50 million for the La Porte and other R&D activities to further prove out the technology, and $100 million for SN1 development and Baker turbine development for commercial deployment. Before turning to Marc for operational updates, I wanted to briefly address our share price in capital allocation strategy. NET Power's current trading prices near our cash value, implying the market is assigning little value to our technology. This stands in stark contrast to other clean power technology companies, many of whom have less liquidity, longer commercialization timelines, lower technology readiness levels, and higher LCOEs, yet trading at valuations in the billions. This discrepancy really underscores the significant dislocation in how the market values our clean, firm power solution and gas solutions, more broadly, versus these others. There is such a large cost gap between most clean, firm power solutions and natural gas. Just last week, Canada announced 1.2 gigawatts of new nukes costing over USD15 billion, which is nearly six times the cost of new gas-based power. And it really begs the question, can NET Power get its cost lower than new nuclear? Our first plant, Project Permian, which is very likely to be the most expensive and least efficient one we ever deploy, we expect it to be much lower cost than the aforementioned nuclear plants. Data points like this continue to reaffirm our original thesis, which is that in regions with access to low-cost natural gas and places to safely store the CO2, the lowest cost way to deliver clean reliable power can and should come from natural gas-based solutions, and load growth should go to those markets that can generate the lowest cost, most reliable power. So we're constantly assessing ways to best unlock the potential of our unique technology, a commitment we owe to our shareholders, including our major strategic investors, Oxy, Constellation, Baker Hughes, SK Group, and the Rice family, who collectively own approximately 85% of our company's equity. Our investment decisions are made with this focus in mind, and I believe our '25 investments represent the best use of our capital to do just that. So with that, I'll now turn the call over to Marc to walk through our focus areas for this year. Marc Horstman Thank you, Danny, and good morning, everyone. It's an honor to step into this role at such an important time. I'm excited to be a part of this earnings call. Having spent over two decades in the power sector, I've seen firsthand the challenges of balancing reliability, affordability, and sustainability. NET Power's technology is a game changer, and I'm energized by the opportunity to help bring it to the market at scale. My focus as COO is to drive operational excellence and accelerate our path to cost competitive clean energy. As Danny mentioned, we have a few key focus areas for the remainder of the year. First, it's progressing through the turbo expander validation program with Baker Hughes at La Porte. We're currently performing some maintenance work at the site. But once we resume testing, we expect to complete the first two phases this year, as well as beginning preparations for Phase 3 and 4 testing in 2026 and 2027. Second, for Project Permian, we're deep into the value engineering process. This involves scrutinizing every aspect of the plant's design, from equipment specifications to construction methods, to identify cost savings without compromising performance or safety. These efforts are critical to making SN1 a success and informing our standardized design for future plants. We're continuing to wrap up engineering work with Zachry and our key partners to arrive at a more definitive cost estimate at the end of this year. In addition, we're advancing our turbo expander design and development activities with Baker Hughes for SN1. It's worth mentioning that the Baker Hughes turbo expander will be location agnostic and can be utilized in any NET Power plant in the Permian or somewhere else. So while the status of Permian as SN1 is currently contingent upon our value engineering efforts, we're comfortably moving ahead with utility, scale, turbo expander development because of the equipment's flexibility to perform anyway. And third, we're continuing to move forward with our feasibility study for a standardized modular multi-unit plant, working to arrive at a scalable configuration of potentially two to four powertrains on the Gulf Coast or any coastal site for that matter. This is a pivotal cost down exercise to validate the economic viability of future NET Power projects and will ensure that future deployments align with market demands for cost-effective clean energy solutions. Since we're early into the cost down initiative for Project Permian and feasibility study for the multi-unit coastal configuration, there's not much to share today, but hope to have any key learnings we can share our next quarter's call. I'm excited to lead our operations as we move closer to commercializing our transformative technology and look forward to updating you on our continued progress. I'll now turn the call over to Danny for closing remarks. Daniel Rice Thanks for the update, Marc. We're energized by the progress we're making and remain committed to executing our strategy with discipline and focus. The next few months will be important as we continue to drive costs out of our first and future projects, thereby improving economics and project fundability in what continues to be a growing market for clean, firm power solutions. We have work to do to unlock this pathway for us, but we have the capital to do it. We're constantly challenging ourselves, but continue to believe the investment in and the development of our clean gas technology creates the best risk adjusted return profile for our shareholders. We appreciate your continued support and look forward to sharing more updates on our next call. Have a nice day. Operator Thank you. And ladies and gentlemen, this does conclude today's conference. You may disconnect your line at this time. Thank you for your participation and have a great day. 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Scoop
29-04-2025
- Business
- Scoop
Kāpiti Coast Annual Plan 2025/26 Sticks To Long-Term Strategy
Kāpiti Coast District Council's 2025/26 Annual Plan will progress the projects and strategies in last year's Long-term plan with only minor amendments made in response to national and global impacts. Kāpiti Coast District Mayor Janet Holborow says Council has embarked on a financial strategy to actively reduce Council debt to build resilience and is staying on this course. The strategy requires rates increases of 7 percent each year for 10 years to reduce Council's debt by a total of $153 million, building its capacity to respond to natural disasters and maximise growth opportunities. Despite rising costs in the last year, the overall rates increase will be 6.9 percent for 2025/26. Actual rate increases for each property will depend on its value, type, and location. 'Between new unfunded mandates from central government and higher energy and maintenance costs it certainly hasn't got any cheaper to deliver Council services,' Mayor Holborow says. 'With 72 percent of our operating costs coming from rates we are always focused on making sure every dollar is spent on what matters most. 'Like everyone in the current climate we've had to take a very close look at our budgets so we can keep rates to the level agreed last year. We've found savings of $3.1 million, without which the rates increase would have been closer to 10 percent. 'To do this we've done things like reduce staff headcount, cut roading work that is no longer subsidised by NZ Transport Agency Waka Kotahi, cut or deferred grant funding and cut costs in office facilities.' Mayor Holborow says these changes won't impact service delivery and Council will still be delivering a significant capital works programme over the year, investing $77 million in the Kāpiti Coast's future. Projects that will progress include upgrades to the Paraparaumu wastewater treatment plant and the Waikanae water treatment plant, completing the Ōtaki water reservoir and progressing Te Ara Whetū (the new library for Waikanae). 'We're striking a balance between delivering the infrastructure and services we need now, keeping rates affordable and making sure we are in a strong position in the future.' Under the Local Government Act, councils are not required to consult on an annual plan if it does not include significant or material differences from the content of the LTP for that year. 'The minor amendments made in response to national and global impacts and identified savings do not trigger the need to consult under the Local Government Act or Council's Significance and Engagement Policy. 'There's also a cost attached to consultation which is why we are being prudent and have made the decision not to formally consult. Instead, we'll be making information available to people using our available Council channels and welcome feedback that can be used to inform future plans and work.' A public briefing on the Annual Plan will be held on Tuesday 6 May. The final Annual Plan will be brought to Council for adoption on 29 May 2025. Find out more at
