Latest news with #CHPS
Borneo Post
25-07-2025
- Politics
- Borneo Post
Over RM190,000 allocated to CHPS No 1 for facility upgrades
Dr Yii (fifth right) presents a mock cheque to the representatives of CHPS No 1. KUCHING (July 25): Bandar Kuching MP Dr Kelvin Yii has approved RM196,964 for Chung Hua Primary School (CHPS) No 1, meant for several upgrading projects aimed at improving the school's learning environment. According to the Democratic Action Party (DAP) lawmaker, the funding is intended to enhance the school's physical infrastructure, providing both pupils and teachers with a safer, more comfortable, and inspiring space for teaching and learning. 'Education is the most worthwhile investment for the future. We have both the responsibility and the duty to create better learning spaces for the next generation. Whether it's in terms of teaching equipment, school safety or student well-being, we must continue to improve,' he said in a statement today. Dr Yii said part of the allocation would be used to install stage lighting and a sound system in the school hall to support extracurricular activities, performances, and school assemblies. In addition, the school would purchase new furniture to replace outdated items. 'To address issues caused by excessive heat and sun exposure, the school will also install sun louvres to help reduce indoor temperatures,' said the MP. Most critically, he pointed out, the funding would cover repair works on the roof and ceiling – the measures deemed necessary to ensure structural safety and also to prevent problems caused by leakages or ageing infrastructure. Dr Yii hoped that the upgrading works could be completed as soon as possible, so that both teachers and pupils could benefit without delay. He added: 'We aim not only to enhance urban schools, but also to gradually improve facilities in rural, under-served schools. 'Every child, regardless of background, deserves access to quality education.' allocation Chung Hua Primary School No.1 Kelvin Yii upgrading projects
Business Wire
15-07-2025
- Business
- Business Wire
Amogy Increases Latest Funding to $80M to Accelerate Global Growth and Advance Ammonia-to-Power Solutions
NEW YORK--(BUSINESS WIRE)-- Amogy, a provider of mature, scalable, and efficient ammonia-to-power solutions, today announced it has secured an additional $23M in venture financing, successfully expanding the fundraise initially announced in January 2025. This latest investment strengthens the company's momentum in delivering stationary power generation systems, while accelerating the development of Amogy's maritime products and supporting its expansion into the Asian market. The round was co-led by Korea Development Bank (KDB) and KDB Silicon Valley LLC, with participation from new investors BonAngels Venture Partners, Pathway Investment and JB Investment. With this increase, Amogy has now raised a total of nearly $300M since its inception and reached a new high in the company valuation. After sailing the world's first carbon-free, ammonia-powered maritime vessel in September 2024, Amogy has continued advancing partnerships with maritime industry leaders to deploy its technology in newbuild and retrofit vessel applications in support of international goals to decarbonize global shipping. In addition, the company has expanded operations in South Korea and rapidly accelerated the applications of its technology in stationary power generation. Most recently, this included a partnership with the South Korean city of Pohang to deploy a clean, ammonia-fueled distributed power generation system up to 40 MW for commercial operations by 2028-2029. 'We've long recognized the strong demand for ammonia-to-power technology in the shipping industry, but we also see much broader opportunities to use ammonia as a clean fuel – especially with the growing demand for the 'clean power' globally. We're ready to meet that market demand,' said Seonghoon Woo, co-founder and CEO at Amogy. 'Support for a hydrogen-based economy is especially strong in Asia, and as the most cost-effective hydrogen carrier, ammonia is quickly evolving into the leading zero-carbon fuel solution for these markets. We are deeply grateful for the strong confidence our investors have placed in our vision and growth trajectory. We are especially proud to partner with institutions like Korea Development Bank, whose deep expertise in scaling energy infrastructure brings significant value to our mission.' For South Korea, Japan, Singapore, and other Asian nations that do not have abundant fossil fuel deposits and must import most of their fuels, ammonia is an attractive and economic means for transporting and storing zero-carbon energy. In South Korea, policies like the Clean Hydrogen Portfolio Standard (CHPS) and the Distributed Energy Act (DEA) are driving a new energy economy, with hydrogen and ammonia projected to generate 2% of the country's electricity by 2030 and 7% by 2035. To learn more about Amogy, please visit About Amogy Amogy provides carbon-free energy solutions to decarbonize hard-to-abate sectors like maritime shipping, power generation, and heavy industry. Proven in real-world applications, its patented ammonia cracking technology offers a mature, scalable, and highly efficient method for splitting ammonia into hydrogen and nitrogen. The resulting hydrogen is directed into an integrated fuel cell or hydrogen engine, generating high-performance power with zero carbon emissions. Amogy is headquartered in Brooklyn, New York, with additional locations including Texas, South Korea, Norway, and Singapore. Amogy is backed by investors including Amazon's Climate Pledge Fund, SK Innovation, Aramco Ventures, Mitsubishi Corporation, Samsung Heavy Industries, BHP Ventures, and AP Ventures. For more information, follow Amogy on LinkedIn, X, Instagram, Threads, Facebook, and YouTube, or visit About Korea Development Bank (KDB) Korea Development Bank is a South Korean state-owned development bank which aims to encourage the industrial development of South Korea. It was founded in 1954 in accordance with The Korea Development Bank Act to finance and manage major industrial projects to expedite industrial development of Korea. About BonAngels Venture Partners Founded in 2007, BonAngels Venture Partners is South Korea's pioneering early-stage venture capital firm. It has invested in more than 300 startups, including over 50 overseas, and has helped to create four unicorns, 22 M&A exits, and two IPOs. Supported by a long-term capital base and a global footprint, the firm remains a dependable partner from incorporation through growth, offering sustained follow-on financing and cross-border market access. About Pathway Investment Pathway Investment is a South Korea-based venture capital firm investing in innovative technology companies from early to growth stages. With a team of professionals from diverse industry backgrounds, Pathway focuses on high-growth companies leading the future of technological innovation. The firm provides both capital and strategic support to help its portfolio companies generate long-term value across Asian and global markets. JB Investment, a subsidiary of JB Financial Group, is a leading venture capital firm established in 2012. Since joining JB Financial Group in 2022, JB Investment has actively recruited external talent and improved its organizational structure, leading to the formation of multiple blind funds and increased investment activity.
Yahoo
13-03-2025
- Business
- Yahoo
Semiconductor ETFs Rise on News of Intel CEO Hire
Semiconductor ETFs rose after chipmaker Intel Corp. (INTC) appointed Lip-Bu Tan as CEO, replacing interim co-CEOs David Zinsner and Michelle Johnston Holthaus. Shares jumped more than 15% in morning trading Thursday, boosting exchange-traded fundswith large allocations to the semiconductor maker. FTXL, the First Trust Nasdaq Semiconductor ETF rose more than 2% initially, even as broad-market ETFs slipped. The fund allocates nearly 9% of its holdings to Intel—the most of any ETF. Intel is the third-biggest holding in the fund. Wall Street is cheering the move as a sign that the company is ready to make a turnaround and revitalize the business, which has slumped in comparison to its competitors and the broad market. Other ETFs benefited from Intel's rise Thursday. TINY, the ProShares Nanotechnology ETF rose by more than 2% in morning trading, while CHPS, the Xtrackers Semiconductor Select Equity ETF, lost 2%. Intel is a top-10 holding in both funds. SOXX, the iShares Semiconductor ETF and SMH, the VanEck Semiconductor ETF were flat in comparison. Both funds hold less than 4% of Intel. Semiconductors have struggled this year as investors have questioned if aggressive growth from companies like Nvidia Corp. (NVDA) could be maintained. After leading the market for most of last year, semiconductor performance faltered in November as supply and growth concerns weighed down the sector. SMH, the largest semiconductor ETF has slipped by nearly 9% so far this year, compared to just under a 5% decline in SPY, the SPDR S&P 500 ETF Trust. But chipmakers like Nvidia have said they expect robust growth as demand for AI and cloud computing remains high. The company gave strong guidance on revenue forecasts for the first quarter during its fourth-quarter earnings report. Last week, President Trump announced a $100 billion investment from Taiwan Semiconductor Manufacturing (TSM) in American chip manufacturing to build five new factories in the U.S. The president has called advancing American semiconductor manufacturing a matter of "national security."Permalink | © Copyright 2025 All rights reserved
