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Bangkok Post
10-08-2025
- Politics
- Bangkok Post
Govt extols its relief package for locals
The government has rolled out a series of measures to help residents displaced by the border tensions with Cambodia, including a two-month suspension of electricity and water fees. Chanin Rungthanakiat, secretary to the interior minister and deputy spokesman for the Pheu Thai Party, said the government is now focusing on relief measures as the fighting along the border has eased. On Saturday, acting prime minister Phumtham Wechayachai arrived in Surin to visit shelters for displaced residents. He also met governors from Surin, Ubon Ratchathani, Si Sa Ket, and Buri Ram to discuss the latest developments along the border. Mr Chanin on Sunday said Mr Phumtham instructed the governors to enable the return of displaced residents, carry out urgent damage assessment and repairs, help bring down the cost of living, survey affected communities to determine their needs and fairly compensate security volunteers. The Transport Ministry will help provide additional transport, while the Public Health Ministry will arrange ambulances to transport patients and the elderly, said Mr Chanin. The Department of Local Administration has also been instructed to carry out damage inspections to expedite the distribution of compensation. The governors, he said, have also been ordered to work with state agencies, including the military, vocational colleges, and the Department of Public Works to carry out urgent repairs using advance funds. A cabinet resolution will also be sought to exempt residents in risk areas from paying electricity and water bills for two months (July–August), he said. Meanwhile, the Public Health Ministry will assess locals' health needs, covering residents and frontline personnel including soldiers, police, border patrols, volunteers, and officials, he said. With regards to compensation for volunteers, cabinet approval will be sought to grant daily allowances of 120–240 baht for Village Security Units and other personnel who assisted during evacuations, Mr Chanin said. Government spokesman Jirayu Houngsub, in his capacity as a member of the Thai-Cambodian Border Situation Operations Committee, said no clashes occurred along the border from late Saturday to early on Sunday. However, the day before, three Thai soldiers were injured by a landmine while on patrol in Si Sa Ket. The incident occurred in Thai territory, suggesting Cambodian forces had planted mines prior to the ceasefire, a violation of the Ottawa Treaty.
CNN
07-08-2025
- Business
- CNN
Texas-based Firefly made history with its moon landing. Here's how the company is fueling its next adventure
Space programs Animal stories InvestingFacebookTweetLink Follow (CNN) — Firefly Aerospace, the first private company to successfully land upright on the moon, is set to make another high-stakes foray — this time into the stock market. Firefly's stock will begin trading on the Nasdaq Thursday morning under the ticker symbol 'FLY.' Founded in 2017 by ex-SpaceX engineer Tom Markusic, the company reached a valuation of more than $6 billion in its initial public offering — triple what it achieved as a privately held company, according to financial documents and estimates from startup data aggregator Pitchbook. Firefly raised more than $868 million, with shares priced at $45 a piece, according to a news release. Much of those funds could be used to fuel the company's ambitious next steps, which include plans to land the first US spacecraft on the far side of the moon as soon as 2026. Firefly also has a mid-size rocket in its development pipeline as well as plans to debut a spacecraft that can provide maintenance and move other satellites through orbit. 'There's so much demand right now from national security and space exploration and commercial customers that we want to supercharge and accelerate that growth by rating up our production lines even faster,' Firefly CEO Jason Kim told CNN. The stock market debut comes in the wake of the company's high-profile moon landing success in March. Investors also appear to have an appetite for IPOs at the moment, noted Andrew Chanin, the CEO of the investment firm ProcureAM. 'This is kind of a time when all the planets are aligned,' Kim said of the IPO timing. Firefly's Blue Ghost spacecraft, a robotic vehicle roughly the size of a small car, made history with its pristine upright touchdown on the lunar surface in March — succeeding where several other private space companies had failed before. That mission, carried out on behalf of NASA under a $102 million contract, was only the first in a series that Firefly plans to undertake over the next several years as the US space agency aims to establish a permanent settlement on the moon under its Artemis program. Firefly hopes as soon as next year to send one of its Blue Ghost vehicles to the far side of the moon, where only China — the United States' main rival in the modern space race — has successfully sent a lander. The company's other lines of business include Alpha, the rocket it has flown since 2021 to mixed success, as well as a scaled-up version of the launch vehicle that Firefly is co-developing with Northrop Grumman, called Eclipse. Firefly also plans to debut its 'space-tug,' called Elytra, which can provide in-space services such as moving satellites between orbits, this year. 'It's a positive sign that they're not just singularly focused on the moon,' Chanin noted. Firefly's rockets in particular may prove to be an attractive asset, according to Chanin. Some satellite makers and other space companies abroad have been looking to avoid relying on SpaceX, which has dominated the global launch market for years, in the wake of the Russia-Ukraine war, he explained. That conflicted led to an incident in which satellites owned by a European company were effectively trapped on a Russian rocket, spurring European nations and businesses 'to find other solutions, whether that's developing them our own or finding other potential partners,' Chanin said. Space companies have had a tough time in the public markets in the past. Rockets, satellites and other space hardware tend to be extremely expensive to build and highly risky to operate — both factors that can spook investors. That's one reason some of the space industry's most visible leaders have been billionaires who can self-fund their ambitions. SpaceX CEO Elon Musk has famously said he will not take the company public anytime soon because he wants to pursue outlandish goals like colonizing Mars while remaining free of public market pressures. But Firefly could be served well by going public if the company can use the cash influx wisely, Chanin noted. 'Things can happen pretty quickly for space companies that can boost their outlook or harm it,' Chanin added, referring to unexpected development hangups or mission failures that are inevitable in the risky world of spaceflight. 'Being able to bring in cash and build out what they're working on,' Chanin said, 'as well as give them a cushion in case of rainy days ahead is something that they can take advantage of by raising capital now.' Kim said he intends to be up-front about Firefly's triumphs and struggles in order to foster trust with investors. 'This company is always open and transparent, even through successes and anomalies, and I think that's really helped us gain a lot of support and advocacy from the public,' Kim said. Sign up for CNN's Wonder Theory science newsletter. Explore the universe with news on fascinating discoveries, scientific advancements and more.
Business Journals
23-04-2025
- Business
- Business Journals
Best in Atlanta Real Estate: Cherry Street Energy Headquarters
By submitting your information you are agreeing to our Privacy Policy and User Agreement . Editor's note: This is a preview of Atlanta Business Chronicle's Best in Atlanta Real Estate Awards, recognizing the top commercial real estate projects and deals in 2024. The event will be held on April 24. To purchase tickets, visit the Chronicle's events website. Solar power provider Cherry Street Energy has built a new headquarters after doubling its size in employees within the last year. Located in the mixed-use building the Brickworks in West Midtown, the new facility is home to 71 employees, including salespersons, electrical designers, the construction team, operations and maintenance. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events The clean energy industry in Georgia has been rapidly growing, with bioenergy projected to contribute $5 billion to the state economy over the next 10 years. This rapid expansion has pushed the growth of Cherry Street Energy. Size of the project: 13,618 square feet. Address: 1000 Marietta Street NW, Suite 290, Atlanta Investment in the project: More than $2 million Signed lease: July 2023 Opened: April 2024 The new Cherry Street Energy Headquarters has more office space, a warehouse and a solar school. 'We rebuilt it custom for our needs,' Michael Chanin, CEO of Cherry Street Energy, told the Atlanta Business Chronicle in an interview. expand Michael Chanin, CEO of Cherry Street Energy. Byron E. Small The company wanted to incorporate electric vehicle charging stations and battery storage to be able to showcase services to potential customers, he continued. Also, it needed space for its compost and recycling programs, as well as closer proximity to the Beltline for employees commuting to work. 'We wanted to be in this area of town where we could combine commercial office space with warehouse space that had access to a lot of the amenities and proximity to a major university for recruitment and talent,' Chanin said about the building, which is less than a mile away from Georgia Tech's campus. To find the right space for the new headquarters, the company relied on the help of JLL as its lease negotiator and on the support of Asana Partners, the landlords of the building. The solar school, one of the novel features of the headquarters, aims to set individuals on the pathway for careers in the renewable energy industry. By the end of the 10-week program, participants earn a certification provided by the North American Board of Certified Energy Practitioners, Chanin said. 'We anticipate doubling again in the coming year,' Chanin said. 'The momentum in our market for what we're doing is at an inflection point of growth, so we're working hard to meet that demand and have the appropriate space … to attract the right talent and make sure that our employees have the right elements.'
