Latest news with #Neos
Local Italy
3 days ago
- Business
- Local Italy
Italy's Neos airline to launch first-ever US-Puglia direct route on Tuesday
Milan-based Neos said it will offer weekly flights between New York JFK and Bari Karol Wojtyla Airport between Tuesday, June 3rd and Wednesday, October 15th. Flights to Bari are set to depart from JFK every Tuesday at 5pm and arrive in Puglia's capital at 7.40am the following day. Services in the opposite direction will depart from Bari every Wednesday at 11.35am and arrive in New York at 2.50pm. Passengers will travel on 335-seater Boeing 787-9 Dreamliners offering premium and economy class, the airline said. Puglia's Tourism Minister Gianfranco Lopane hailed the new flights as 'a formidable tool to position our region among the most sought-after international destinations'. 'This route not only makes it easier for American travellers, who are increasingly drawn to Puglia's beauty, culture, and traditions, to visit but also strengthens our ability to engage with a strategic market like the United States,' he added. Neos CEO Carlo Stradotti also expressed satisfaction over the launch of the new route, citing 'very strong interest' in long-haul links to Italy among Americans. 'Interest in [US-Italy] routes and ticket sales have exceeded expectations [...] and we haven't needed to use any promotions,' he said. The new seasonal link to Puglia will bring the number of New York-Italy routes operated by Neos to three, adding to existing JFK-Palermo and JFK-Milan Malpensa direct flights. The Italian airline's New York-Bari route is one of three US-Italy seasonal connections set to be launched this week, with American Airlines due to offer daily direct flights connecting Miami to Rome Fiumicino and Dallas-Fort Worth to Venice Marco Polo from Thursday, June 5th.
Associated Press
4 days ago
- Business
- Associated Press
PlasCred Circular Innovations Inc. Reports 2024 Year-End Results
PlasCred Wraps Transformational Year: Long-Term Offtake Secured, Neos Facility Progressing Calgary, Alberta--(Newsfile Corp. - June 3, 2025) - PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2) ('PlasCred' or the 'Company'), a Canadian clean technology company transforming plastic waste into renewable industrial hydrocarbon feedstock, today announces its audited financial and operating results for the year ended December 31, 2024, highlighting key milestones including a significant offtake agreement, major project advancements, and strategic funding initiatives. PlasCred secured a definitive five-year offtake agreement with a leading Global Commodities Company ('GCC') for the entire output of its first commercial facility, Neos. The agreement provides a fixed price of CAD $120.00 per barrel for Renewable Green Condensate™ ('Condensate'), PlasCred's proprietary low-carbon hydrocarbon feedstock used in the production of virgin plastics, with renewal options and rights of first refusal on future production from both Neos and the planned larger-scale Maximus facility. Under FCA Incoterms, the customer assumes transportation responsibility at the Scotford site. 'This offtake agreement significantly de-risks our commercialization pathway and confirms strong market demand for our product,' said Troy Lupul, President & CEO of PlasCred. 'We now have market validation, secured long-term revenue, and a strategically advantageous site-all the necessary elements to begin building Canada's circular plastics infrastructure.' Neos Facility Development - Strategic Hub at CN's Scotford Yard Construction of PlasCred's Neos, to be strategically located at CN Rail's Scotford Yard in Fort Saskatchewan, Alberta, is expected to commence construction in early 2026, subject to regulatory approvals and financing completion, with commissioning anticipated late 2026. The Neos facility will process approximately 100 metric tonnes of plastic waste daily, producing around 500 barrels/day of condensate. The site's rail connectivity and proximity to Alberta's petrochemical infrastructure ensure efficient feedstock supply and product distribution. The facility will be co-located with the proposed Maximus plant, designed for phased expansion up to 2,000 tonnes/day processing capacity, yielding up to 10,000 barrels/day of condensate. Lifecycle assessments project Neos will annually divert over 36,000 tonnes of plastic waste annually and reduce approximately 51,000 tonnes of CO₂e, comparable to removing over 11,000 cars from roads each year. When fully operational, the Maximus facility is expected to deliver GHG reductions of more than 350,000 tonnes of CO₂e annually, significantly contributing to Canada's environmental goals. Alberta Innovates Grant Supports Technology Optimization In April 2025, PlasCred received a $500,000 non-dilutive grant from Alberta Innovates, Alberta's leading innovation funding agency, in collaboration with the University of Calgary's Centre for Advanced Polymers and Nanotechnology. The ongoing research focuses on enhancing product quality and energy efficiency of PlasCred's patent-pending catalytic pyrolysis process, directly benefiting the upcoming commercialization at the Neos facility. Project Financing and Execution Roadmap The Neos facility requires approximately CAD $25 million for construction and commissioning. PlasCred is actively pursuing a blended financing strategy that includes non-dilutive government grants, senior project-level debt, and strategic equity investments from industry partners. The Company is in advanced discussions with both capital and debt providers and anticipates finalizing the remaining components of the funding package ahead of the planned construction start in Q1 2026. While positive progress has been made, the Company notes that construction remains contingent to securing the full financing required. The company's executive team brings significant expertise to ensure effective execution. CEO Troy Lupul has successfully scaled multiple industrial companies, and CTO Dr. Wayne Monnery possesses over 30 years' experience in fluid processing and catalyst optimization, essential for advancing PlasCred's technological and operational milestones. 2024 Financial Summary As a pre-commercial company, PlasCred reported no revenue and incurred a net loss of CAD $3,175,785 for the year, reflecting planned investments in engineering, pilot operations, permitting, and commercial development. At year-end, total assets were CAD $851,757. The company had 70.8 million shares outstanding as of December 31, 2024. Full audited financial statements and MD&A are available on PlasCred's website and SEDAR+. Operational Results For the 12 months ending December 31 st , 2024, PlasCred reported the following: Net loss from operations: $(3,175,785) Basic and diluted loss per common share: $(0.05) Comparatively, for the year ending December 31 st , 2023 , 2023 Net loss from operations: $(3,092,996) Basic and diluted loss per common share: $(0.07) Financial Position as of December 31 st , 2024: Net current assets: $68,612 Total assets: $851,757 including our Primus facility Current liabilities: $ 1,399,511 Total liabilities and shareholders' equity: $851,757 Shares Outstanding: The company common shares outstanding totaled 70,780,636 as of December 31 st 2024. Subsequent event: In May 2025 the company closed a private placement for $452,500. 2025 Outlook - Transitioning to Execution Phase With 100% of Neos' planned output secured under a long-term offtake agreement, all Renewable Green Condensate™ will be delivered through PlasCred's Global Commodities Company ('GCC') partner into global markets for use in virgin plastic production. This agreement provides long-term revenue visibility and reinforces PlasCred's role as a key upstream contributor to the global circular plastics economy. In the year ahead, PlasCred's priority is to secure final project financing and commence construction of the Neos facility at CN Rail's Scotford Yard. The Company will also finalize long-term feedstock supply agreements and advance integrated logistics planning with CN Rail, which is positioned to support both inbound plastic waste and outbound product shipments. The near-term objective is to bring Neos into profitable, cash-flow-generating operations, establishing a strong commercial foundation for scaling into the larger Maximus platform. 'With completed engineering, secured offtake, and permitting in advanced stages, we are well-prepared for full-scale execution,' Lupul concluded. 'PlasCred is positioned to deliver significant environmental and economic impacts as we build Canada's industrial-scale circular infrastructure.' About PlasCred Circular Innovations Inc. PlasCred is at the forefront of rebalancing the future of plastics. The company is transforming plastic waste by granting it a valuable second life. With a vision of advancing towards a climate-positive future, PlasCred aspires to be among the largest advanced plastic waste recyclers in North America and globally. Their groundbreaking patent-pending technology is set to revolutionize the approach to plastic waste management and advanced recycling. PlasCred also has strategic partnerships with CN Rail, Palantir Technologies Inc., Fibreco Export Inc., and a Global Commodities Company . These collaborations provide PlasCred with world-class logistics, advanced operational intelligence, and stable long-term revenue, supporting its leadership in the circular plastics economy. For further information on PlasCred, visit our website at ON BEHALF OF THE BOARD Troy Lupul - President & CEO Contact Information For more information please contact: PlasCred Circular Innovations Inc. Investor Relations Email: [email protected] Forward-looking Statements This press release includes forward-looking statements under applicable securities laws. Such statements relate to future activities, results, or developments anticipated by PlasCred Circular Innovations Inc. and are based on reasonable assumptions but involve risks and uncertainties. Forward-looking statements can often be identified by terms such as 'expects,' 'intends,' 'plans,' or similar expressions. Actual results may differ materially due to economic conditions, regulatory changes, and other risks described in the Company's public filings available on SEDAR at . Readers are cautioned not to place undue reliance on these statements. PlasCred disclaims any obligation to update forward-looking statements except as required by law. The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release. To view the source version of this press release, please visit
New York Times
26-05-2025
- Business
- New York Times
This Italian Port City Transformed Its Identity. Here Come the Tourists.
Antonio Maria Vasile began working two years ago to connect the United States directly with Puglia, the heel of Italy's boot where many Italian Americans can trace their heritage. Mr. Vasile, the head of Puglia's airports, tried to convince carriers that they should set their sights not on Naples or Sicily but on Bari, arguing that the regional capital offered rich culture, history and cuisine worthy of their time and money. 'We don't want to be relegated to being the south,' he said, referring to deeply ingrained biases in Italy against the more economically disadvantaged regions south of Rome. His efforts paid off late last year, when the Italian carrier Neos announced direct flights between Bari and New York's Kennedy Airport beginning the first week in June, the first ever route linking Puglia to the United States. The seasonal flights will run once a week through October. Mr. Vasile sees opportunities for all of Puglia, from farmhouse inns to seaside villages, but also for his city of about 330,000 people. 1/8 mile Adriatic Sea Corso Antonio DE Tullio Basilica of St. Nicholas Castello Normanno Svevo Cathedral of St. Sabino Old Bari ARCO BASSO Bari Map data from OpenStreetMap Rome Adriatic Sea ITALY PUGLIA Bari Naples Tyrrhenian Sea SICILY 100 miles By The New York Times Want all of The Times? Subscribe.
Local Italy
23-05-2025
- Business
- Local Italy
The new flights between Italy and the US for summer 2025
Please note: departure and arrival times are expressed according to the corresponding country's local time. American Airlines Starting on June 5th, American Airlines will introduce two new daily direct services between the US and Italy. The first connects Miami with Rome Fiumicino, with flights departing Miami at 7.45pm and arriving in Rome at 11.50am the following day. The US-bound service will leave Rome at 1.50pm, landing in Miami at 6.55pm. The second route, also launching on June 5th, will link Dallas-Fort Worth and Venice Marco Polo. Outbound flights from the US will leave Dallas at 5.25pm and arrive in Venice at 10.35am the next day. The US-bound service will depart Venice at 1.40pm and land in Dallas at 6.10pm. Neos From June 3rd through October 15th, Italian airline Neos will be launching Flights from JFK will take off every Tuesday at 5pm, arriving in Puglia's capital at 7.40am the next day. Return flights are scheduled for Wednesdays, departing Bari at 11.35am and reaching New York at 2.50pm. Delta Delta has announced it will be expanding its routes to Italy with daily nonstop flights from New York JFK to Catania beginning in May, marking Delta's debut in the Sicilian market, as well as the following additions to its service: Four weekly flights from Atlanta to Naples, which will complement the existing New York JFK to Naples route. Four weekly flights from Minneapolis St. Paul to Rome, adding to its existing Rome service from Atlanta, Boston, Detroit and JFK. Four weekly flights from Boston to Milan, joining its current Milan routes from New York and Atlanta.
Local Italy
12-05-2025
- Business
- Local Italy
LISTED: The new flights to and from Italy in summer 2025
Please note: departure and arrival times are expressed according to the corresponding country's local time. American Airlines American Airlines will offer daily direct flights between Miami and Rome Fiumicino from June 5th. The direct service will depart from Miami at 7.45pm and arrive in Rome at 11.50am the next day. The US-bound service will leave Rome at 1.50pm and arrive in Miami at 6.55pm. The carrier will also launch new daily direct flights between Dallas-Fort Worth and Venice Marco Polo from June 5th. The Italy-bound service will depart from Dallas-Fort Worth at 5.25pm and arrive in Venice at 10.35am the next day. The US-bound service will leave Venice at 1.40pm and land at Dallas-Fort Worth airport at 6.10pm. Neos Private Italian airline Neos will launch a new direct route linking New York JFK to Bari International Airport from June 3rd to October 15th. Flights to Bari will depart from JFK every Tuesday at 5pm and arrive in Puglia's capital at 7.40am the following day. Flights in the opposite direction will depart from Bari every Wednesday at 11.35am and arrive in New York at 2.50pm. EasyJet British budget airline EasyJet will operate new direct flights between Bristol and Palermo, Sicily's capital, from June 26th, with twice-weekly flights on Thursdays and Sundays, according to the carrier. The airline will also offer twice-weekly services between Palermo and Lisbon, Portugal, from June 3rd, and between Palermo and Palma de Mallorca, Spain, from June 23rd. As of June 23rd, EasyJet will operate twice-weekly flights (Mondays and Fridays) between Milan Malpensa and Biarritz, on France's Atlantic coast. Two days later, on June 25th, the airline will also start direct flights between Milan Malpensa and Thessaloniki, Greece. Flights in both directions will have a twice-weekly frequency (Wednesdays and Sundays). Finally, EasyJet will expand its southern Italy network this June with new flights to and from Naples Capodichino and Brindisi, Puglia. Thrice-weekly flights between Brindisi and Lyon, France, will start on June 5th, while weekly flights (on Wednesdays) between Naples and Fuerteventura, one of Spain's Canary Islands, will be launched on June 25th. Air Transat Canadian carrier Air Transat will strengthen its presence in Italy this summer by offering daily flights connecting Rome Fiumicino to Toronto and Montreal from June 9th and June 15th respectively. Flights on the Venice-Toronto and Venice-Montreal routes will also switch to a twice-weekly frequency from June 10th and June 13th respectively. Finally, weekly flights between Toronto and Lamezia, Calabria, will operate from June 12th. Vueling Spanish low-cost airline Vueling will launch three new links to Italy this summer. The carrier will operate three weekly flights between Salerno, Campania and Paris Orly from June 20th to October 24th. The southern Italian city will also be connected to Barcelona, Spain from July 3rd to October 25th. Services will run three times a week. Finally, twice-weekly flights will link Rimini, Emilia Romagna, with Barcelona from July 2nd to October 22nd. WizzAir Hungarian airline WizzAir will open up two new Italy-Poland direct routes in June. Thrice-weekly flights (Mondays, Wednesdays and Fridays) between Pisa, Tuscany, and Katowice will start on June 2nd. Genoa- Krakow flights will be launched on June 17th, with services in both directions set to have a thrice-weekly frequency. Wizz Air is set to further expand its Italian network on June 19th by launching a new summer-season route between Alghero, Sardinia, and Sofia, Bulgaria. Volotea Spanish airline Volotea will operate weekly direct flights between Palermo and Heraklion, Greece, from July 8th to August 26th. The carrier will also add three connections between Salerno, Campania, and French airports in July. These include two weekly flights between Salerno and Lyon starting on July 4th (Mondays and Fridays), two between Salerno and Marseille starting on July 6th (Wednesdays and Sundays), and two between Salerno and Nantes (Tuesdays and Fridays). Ryanair Irish budget airline Ryanair will connect Trieste, Friuli Venezia Giulia, to Stockholm Arlanda, Sweden, from July 2nd. The new route will run on Wednesdays.
