Latest news with #NuGen
ITV News
an hour ago
- Business
- ITV News
New nuclear development plans announced for Cumbria
The Prime Minister has announced plans which could see nuclear power generation return to West Cumbria. Sir Keir Starmer confirmed that land at Moorside, near Sellafield, will be freed up and leased to pave the way for a new nuclear power plant. Josh MacAlister, MP for Whitehaven and Workington said: "I made a promise at the General Election to do everything possible to unlock land at Moorside for new nuclear. "Some people thought it was a dead-end or a cynical promise that would be broken after the election. It hasn't been easy, but we've done it. 'Having the Prime Minister's backing is a real vote of confidence in West Cumbria and our people and I know we will rise to the challenge. 'Now we have the government behind us and an agreement on use of the land we can motor ahead to deliver Pioneer Park at pace. I can't promise we will get new nuclear, but unlocking this land gives us our best chance since the collapse of NuGen. 'What I can promise is I will do everything in my power to secure our nuclear future. We deserve nothing less." Josh MacAlister MP is now set to host a public meeting to discuss plans for new nuclear in West Cumbria. Cllr Mark Fryer, Leader of Cumberland Council, said: 'A clean energy development at Moorside is great news for Cumberland and West Cumbria in particular, as it would help grow and diversify our future economy. 'The main driver for me is generating enough power at Moorside, by whatever means, to attract industry and technology to Cumberland that will sustain our economy and create jobs for west Cumbrians long after the inevitable downturn in decommissioning at Sellafield. 'While I am open to all clean energy developments that benefit our community, new nuclear build, in the form of Small Modular Reactors, would unquestionably provide us with the most power capacity for the size of land being made available and give us our best chance of achieving our ultimate goal of attracting industry, technology and jobs into our community. 'The Council is fully committed to working with the NDA to understand how we can deliver maximum value and benefit from the land at Moorside for the local community.'
Yahoo
2 hours ago
- Business
- Yahoo
Prime Minister unlocks land for new nuclear development in West Cumbria
PRIME Minister Keir Starmer has announced plans to unlock land at Moorside for new nuclear power generation following a year-long campaign by MP Josh MacAlister. Writing exclusively for this paper, the Prime Minister revealed that land at Moorside will be freed up to be leased and marketed by a local development corporation to pave the way for a new nuclear power plant. This 'Pioneer Park' will seek to attract Small Modular Reactors (SMRs) and the energy intensive industry they could power. The news formed part of a broader announcement by the Prime Minister giving the go-ahead to other major new nuclear projects across the country ahead of the Spending Review. These decisions are also expected to benefit Cumbria through investment in the nuclear supply chain. Campaigners say unlocking land at Moorside has been the biggest barrier to securing new nuclear power generation in West Cumbria since the collapse of the NuGen deal in 2018. Josh MacAlister MP with Energy Secretary Ed Miliband during discussions about future nuclear use of the land at Moorside (Image: Submitted) Cumberland's four MPs, the leader of Cumberland Council and the leaders of the Nuclear Decommissioning Authority and Sellafield Ltd set up the Cumberland Nuclear Future Board last year. Multiple meetings have been held with Ministers to try to resolve the issues with use of and access to the land. Agreement has now been reached and work is underway to make the land available. A market engagement process with nuclear and other clean energy developers will be launched this summer. Writing for The Whitehaven News, the Prime Minister said: "Cumbria has always been at the heart of Britain's energy story. From Calder Hall to Sellafield, this region has powered the nation with world-class expertise and a proud industrial heritage. "And with this government, Cumbria will be at the front and centre of our plans, this time building a clean, secure energy future. We're doing things differently. No more dithering or delay. We're backing builders, not blockers – cutting through red tape and making bold decisions to get Britain moving. "That means backing our nuclear industry not just in Sizewell or through Small Modular Reactors, but right here in Cumbria. It's why we're taking decisive action to unlock the Moorside site for a new clean energy development. "Whether it becomes home to a fleet of SMRs or another major clean energy project, it will be led by a local development corporation – working with industry, unions, and the community to deliver jobs, growth, and energy security. "This is more than a policy. It's a drive to restore pride, create high-quality jobs, and rebuild Britain's industrial base. Nuclear power, alongside renewables, is central to our plan to decarbonise the grid and end our reliance on volatile fossil fuels. "All of this shows that this government is serious about developing clean energy projects. We're ready to get Britain building again – with steel, with confidence, and with communities like Cumbria central to that." Josh MacAlister MP on land at Moorside (Image: Submitted) Josh MacAlister, the MP for Whitehaven and Workington, said: 'I made a promise at the General Election to do everything possible to unlock land at Moorside for new nuclear. Some people thought it was a dead-end or a cynical promise that would be broken after the election. It hasn't been easy, but we've done it. 'Having the Prime Minister's backing is a real vote of confidence in West Cumbria and our people and I know we will rise to the challenge. 'Now we have the government behind us and an agreement on use of the land we can motor ahead to deliver Pioneer Park at pace. I can't promise we will get new nuclear, but unlocking this land gives us our best chance since the collapse of NuGen. 'What I can promise is I will do everything in my power to secure our nuclear future. We deserve nothing less. 'I'd also like to put on record my thanks to my fellow MPs, Cumberland Council, the NDA and Sellafield for working together so constructively to get this over the line. When Cumbrians are united, there's nothing we can't do." Markus Campbell-Savours MP, Michelle Scrogham MP, Julie Minns MP, Josh MacAlister MP and Cumberland Council leader Cllr Mark Fryer following a meeting of the Cumberland Nuclear Future Board with Energy Secretary Ed Miliband (Image: Submitted) Cllr Mark Fryer, leader of Cumberland Council, said: 'A clean energy development at Moorside is great news for Cumberland and West Cumbria in particular as it would help grow and diversify our future economy. 'The main driver for me is generating enough power at Moorside, by whatever means, to attract industry and technology to Cumberland that will sustain our economy and create jobs for west Cumbrians long after the inevitable downturn in decommissioning at Sellafield. 'While I am open to all clean energy developments that benefit our community, new nuclear build, in the form of Small Modular Reactors, would unquestionably provide us with the most power capacity for the size of land being made available and give us our best chance of achieving our ultimate goal of attracting industry, technology and jobs into our community. 'The council is fully committed to working with the NDA to understand how we can deliver maximum value and benefit from the land at Moorside for the local community.' Cllr Joseph Ghayouba, who represents Bransty on Cumberland Council, said: "This announcement is welcome news after years of jam tomorrow promised by Tory governments. This puts us in control of our own destiny for that site and I will be working with the MP and within the council to bang the drum for jobs and investment." The plan also has the backing of Cumberland's other MPs. In a joint statement, Julie Minns MP, Markus Campbell-Savours MP and Michelle Scrogham MP said: 'We've all been part of the Cumberland Nuclear Future Board from the beginning because of the benefit that would be felt right across the area from new nuclear development in West Cumbria. 'We stand fully behind the plan to unlock land at Moorside and welcome the Prime Minister's backing to drive this forward at pace. 'We'll be working through the board to ensure Pioneer Park is a success and delivers real and lasting benefits from Carlisle to Barrow.' Mr MacAlister is hosting a public meeting to discuss his plan for new nuclear in West Cumbria on Thursday, June 26 at 6pm in Whitehaven. Anyone wishing to attend can sign up at or by calling his office on 01946 458023 and leaving your full name and address. Venue details will be provided following registration.
Yahoo
6 days ago
- Business
- Yahoo
Cumbria MP launches plan to deliver ‘thousands' of jobs
JOSH MacAlister, Labour MP for Whitehaven and Workington, has launched 'Get West Cumbria Growing' - a new industrial plan for West Cumbria which he says could deliver thousands of new jobs across the area and unlock land for new nuclear power generation. The plan is a more detailed version of one he published before the 2024 General Election which laid out his priorities if elected as the area's MP. Included are proposals to grow West Cumbria's nuclear industry by capitalising on the government's plan for plutonium disposition and unlocking land for new nuclear at Moorside. The plan also highlights the need to expand the Port of Workington to open up West Cumbria's economy to new markets and create further opportunities to diversify away from reliance on nuclear decommissioning whilst also supporting future work at Sellafield. Writing exclusively for The Whitehaven News this week, Mr MacAlister says the plan 'sets out a roadmap for a prosperous and diverse economy in West Cumbria'. Central to the plan is the case for unlocking land at Moorside, which has been the 'biggest barrier' to securing new nuclear power generation in West Cumbria since the collapse of the NuGen deal in 2018. According to Mr MacAlister, unlocking this land is 'absolutely critical' to West Cumbria's nuclear future. Mr MacAlister said: 'West Cumbria is the birthplace of the civil nuclear industry, representing the first clean energy revolution in the last century. It has a rich industrial heritage in mining and steel. 'Yet for all of our history, and our ongoing world leading work in nuclear decommissioning, there is huge untapped potential. There are many occasions when West Cumbria has been a pioneer community, and it should be again. That's why I have published this ambitious industrial plan to lay out the direction of travel to secure growth and jobs for our area. 'Central to this is unlocking land at Moorside where we could site small modular reactors and the industry they could power, which has been my top priority as your MP. I have spent endless hours over recent months making the case for this locally and nationally. 'I've held debates in Parliament, had more meetings with ministers on this than any other topic, and established the Cumberland Nuclear Future Board with Cumberland Council to bring together local partners united in our goal to secure our nuclear future. 'Once we have an agreement on use of the land we can motor ahead with attracting nuclear developers to the area, utilising the combination of a great plot of land, our existing nuclear industrial base, and a willing community. I'm doing everything I possibly can to get this over the line. 'I want to emphasise the partnership between me, Cumberland's other MPs, Cumberland Council, the NDA, Sellafield Ltd and unions representing our nuclear workforce who have been working closely together on this for many months. "Our community is clear; we want and deserve new nuclear.' Mr MacAlister is hosting a public meeting to launch his industrial plan and discuss his plan for new nuclear in West Cumbria on Thursday, June 26 at 6pm in Whitehaven. Anyone wishing to attend can sign up at or by calling his office on 01946 458023 and leaving your full name and address. Venue details will be provided following registration.
Yahoo
30-04-2025
- Business
- Yahoo
NuGen Announces Release of 2024 Annual Financial Results
Toronto, Ontario--(Newsfile Corp. - April 30, 2025) - NuGen Medical Devices Inc. (TSXV: NGMD) (the "Company" or "NuGen") a leading developer of needle-free devices for the subcutaneous administration of therapeutics, announces the release of 2024 Annual Financial Results. Annual Financial Statements Reflect Commercial Ramp Up The orders announced previously in 2024 were shipped during the fourth quarter of the year, and the sales were recognized at that time. NuGen had a record year of revenue, with an increase of 305% which is in line with management expectations previously announced in Q2. These sales had a positive impact on the Company's financial statements with a gross profit increase of 317%. Table 1To view an enhanced version of this graphic, please visit: NuGen has brought costs under control and reduced selling, general and administrative expenses by 31%. The cost control and manufacturing ramp up are reported into results with a loss from operations that was also reduced by 36%. The Company also improved its balance sheet by renegotiating the payment terms of the existing long-term debt, resulting in a reduction of the current liabilities and increase of the long-term liabilities. NuGen also closed a private placement of $10 million secured convertible debentures at the end of Q3, which has considerably improved the balance sheet by increasing the current assets, especially in cash and cash equivalents. Working capital at year end was $6,466,218, compared to a negative working capital of $1,960,731 in 2023. The funds from this private placement will help the Company to continue the manufacturing ramp up, building inventory and working on the development of new products. Veronique Laberge, CFO, commented: "Though just the beginning, we see our first record year of revenue for NuGen with InsuJet™ sales. With a vastly improved balance sheet and the strategic commercialization efforts, the Company is now ready for its next chapter." "We capitalized NuGen in the Fall of 2024 and planted the first seeds of commercialization. As 2025 unfolds, we will begin to see progressive results in the second half from Canada as well as in other regions including Europe as we expand distribution and increase sales and marketing efforts.", commented Liang Lin Chairman & CEO of NuGen. "We also look to product development as no successful company remains stagnant. This is true with NuGen and InsuJet as we make consistent inroads to improving patient care and outcomes throughout 2025. In both regards, I look forward to reporting success and progress to shareholders during the ensuing year ahead." About NuGen: NuGen is a leading developer of needle-free devices to administer therapeutics subcutaneously. The Company is marketing and selling its next-generation InsuJet™ needle-free injection system designed to improve the lives of millions of diabetics. InsuJet™ is approved for sale in 42 countries around the world. For further information, please visit: Websites: and Instagram: @NuGenMD Twitter: @NuGenMD LinkedIn: For further information, please contact:Liang Lin, Chief Executive Officer+1 (833) 285-2666llin@ Investor relations:Richard Buzbuzian(647) 501-3290richard@ Notice Regarding Forward-Looking Information: Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law. Notice Regarding Future Oriented Financial Information and Financial Outlooks To the extent any forward-looking information in this presentation constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable securities laws, such information is being provided to demonstrate the impact to the Company with potential market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations. Such information is presented for illustrative purposes only and may not be an indication of the Company's actual financial position or results of operations. The forward-looking information contained herein was prepared by the management of the Company based on information available at the time this press release was prepared. Unless otherwise stated, information in this press release is current as of April 30, 2025. This press release may contain certain financial performance measures that are not recognized or defined under International Financial Reporting Standards ("IFRS"), which measures are "Non-GAAP Measures". As a result, this data may not be comparable to data presented by other companies. The Company believes that any Non-GAAP Measures included in this presentation are useful indicators of performance and are specifically used by management to assess the current and future performance of the Company. Non-GAAP Measures should be considered together with other financial information prepared in accordance with IFRS to enable readers to evaluate the Company's performance and prospects in a manner similar to the Company's management. Accordingly, any Non-GAAP Measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Any third-party information contained herein has not been independently verified. No warranties or representations can be made as to the origin, validity, accuracy, completeness, currency or reliability of the information. The Company disclaims and excludes all liability (to the extent permitted by law), for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information in this press release, its accuracy, completeness or by reason of reliance by any person on any of it. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
24-04-2025
- Business
- Yahoo
InsuJet Distribution Expands Across Canada
Toronto, Ontario--(Newsfile Corp. - April 24, 2025) - NuGen Medical Devices Inc. (TSXV: NGMD) (the "Company" or "NuGen") a leading developer of needle-free devices to administer therapeutics subcutaneously, is please to report that distribution of The InsuJet™ will be expanded with increased availability across Canada connecting alongside health professionals. "Following its Health Canada approval and our nationwide introduction at World Diabetes Day held on November 14th, 2024, The InsuJet™ device is already making a measurable difference in diabetes care across Canada" commented Liang Lin, CEO of Nugen. "We have a wonderful testimonial, called Lilly's story that is both meaningful to the Company from a product adoption perspective while also illustrating the strong impact we are having on patient care." Lilly's story. A teenager from Northern Canada diagnosed with diabetes at a young age, switching to InsuJet. Click here to view Lilly's story: Why Lilly Anna loves InsuJet™ Expanding Availability Across Canada In the first quarter of 2025, InsuJet™ made its way into Canadian pharmacy retailers and distributors, including London Drugs, Pattison Food Group, Pure Integrative Pharmacies, Imperial Distributors, Shoppers Drug Mart, and McKesson Canada. The newest distribution partner, Kohl & Frisch, and a national retail partner will begin offering InsuJet™ in their pharmacies by mid-April. To further support accessibility and education, NuGen's exclusive distributor for Canada, Sol-Millennium has onboarded pharmacy adjudication partner MyRxCare and Greenshield Canada. These partnerships will help Canadian pharmacy retailers deliver education aimed at identifying Canadians with diabetes who could benefit from needle-free insulin administration. Additionally, Sol-Millennium continues partnership with I Challenge Diabetes, a Canadian non-profit organization dedicated to supporting families living with diabetes. Their CEO and founder, Chris Jarvis-T1 Gold Medal Rower for Canada- will continue to promote and raise awareness of this innovative technology across the country. Connecting with Healthcare Professionals Further, Sol-Millennium will be attending several key pharmacy and healthcare conferences across Canada in 2025, and keep engaging with healthcare professionals: endocrinologists, primary care physicians, pharmacists, Certified Diabetes Educators (CDEs), and researchers. These events provide a platform to showcase the InsuJet™ device and highlight its benefits to a wide clinical audience. Sol-Millennium also look forward to connecting directly with Canadian families living with diabetes, promoting a needle-free future, and gathering valuable feedback and testimonial opportunities. These engagements align with Sol-Millennium's mission of advancing patient care for those living with diabetes as well as future commitment to having InsuJet™ added to the Canadian Diabetes Guidelines. Recent Past Conferences:Diabetes Simplify (Toronto, ON - March 1st)Vendor Theatre (Toronto, ON - March 6th)Durham Care Diabetes Symposium (Oshawa, ON - April 5th)Familiprix (Quebec - April 11th -12th) Upcoming Conferences:Pharma Choice (Calgary, AB - April 25th - 26th)2025 Pharmacy Trade Show - Pattison Food Group (Edmonton, AB - April 26th)Pharmasave (Vancouver, BC - April 29th - 30th)2025 Diabetes Canada/CSEM Professional Conference (Toronto, ON - November 26th - 28th) About Sol-Millennium Medical Group Sol-Millennium Medical Group is a vertically integrated manufacturer of medical devices. With global operations and a commitment to deliver advanced, patient-friendly healthcare technologies, Sol-Millennium Medical partners with healthcare providers to improve outcomes and build a healthier tomorrow for all. About NuGen NuGen is a leading developer of needle-free devices to administer therapeutics subcutaneously. The Company is marketing and selling its next-generation InsuJet™ needle-free injection system designed to improve the lives of millions of diabetics. InsuJet™ is approved for sale in 42 countries around the world. For further information, please visit: Websites: and Instagram: @NuGenMD Twitter: @NuGenMD LinkedIn: For further information, please contact:Liang Lin, Chief Executive Officer+1 (833) 285-2666llin@ Investor Relations:Richard Buzbuzian(647) 501-3290Richard@ Notice Regarding Forward-Looking Information: Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law. To view the source version of this press release, please visit Sign in to access your portfolio
