Latest news with #OES
Yahoo
4 hours ago
- Business
- Yahoo
KuCoin Allows Institutional Clients to Trade Without Having to Pre-Fund Wallets
Crypto exchange KuCoin is now allowing institutional clients to trade without having to pre-fund wallets, recreating a trading experience that they would recognize from the traditional finance (TradFi) world. The Seychelles-based exchange teamed up with BitGo Singapore and will use the crypto custodian's Go Network for off-exchange settlement (OES), KuCoin said. "KuCoin's full suite of products — spot, margin, options, and perpetual futures — can now be accessed through Go Network, ensuring assets remain protected," the exchange said in Thursday's announcement. As crypto companies seek to cash in on increasing crypto institutional adoption, they're faced with having to introduce tools that a familiar in TradFi. In this case, institutional clients' assets remain in BitGo Singapore's storage, following the model of separating custody and execution to mitigate counterparty and systemic risk. For some, what KuCoin aims to offer has an echo of the now defunct Silvergate Bank's Exchange Network (SEN) platform, which helped institutions move funds to exchanges. The bank discontinued the service in March 2023 shortly before it entered liquidation during the crypto winter that had built throughout 2022 and came to a head with the collapse of FTX the previous November. Sign in to access your portfolio
Cision Canada
11 hours ago
- Business
- Cision Canada
KuCoin Joins BitGo Singapore's Go Network for Off-Exchange Settlement, Reinforcing $2 Billion Trust Project
VICTORIA, Seychelles, June 19, 2025 /CNW/ -- KuCoin, a leading global cryptocurrency exchange with over 41 million users, today announced its integration and exchange partnership with BitGo Singapore Pte. Ltd. ("BitGo Singapore"), a subsidiary of BitGo, Inc., through its Go Network for Off-Exchange Settlement (OES) platform. This collaboration marks another significant step in KuCoin's $2 Billion "Trust Project" designed to strengthen platform security and institutional trust. Through this integration, institutional clients on KuCoin can now trade without pre-funding exchange wallets. Assets remain securely held in regulated custody under BitGo Singapore, a licensed Major Payment Institution under the Monetary Authority of Singapore (MAS). This setup offers a mature and proven model of custody and execution separation, diversifying counterparty and systemic risks while enhancing operational security. Institutional clients trading on KuCoin now benefit from a comprehensive suite of features designed to enhance security, compliance, and flexibility in the digital asset space. Clients benefit from qualified custody with insurance coverage up to $250 million, automated post-trade settlement, and full asset control with delegated trading access. KuCoin's full suite of products—spot, margin, options, and perpetual futures—can now be accessed through Go Network, ensuring assets remain protected. Tika Lum, Head of Institutional Business Development at KuCoin, commented: " Security and trust are the foundation for institutional adoption. We are proud to integrate with BitGo Singapore's Go Network. This partnership represents a critical component of our $2 Billion Trust Project and delivers a more resilient trading paradigm to institutional clients globally." Brett Reeves, Head of Go Network at BitGo, added: " Partnering with KuCoin on Go Network through BitGo Singapore marks a major step forward in building a more efficient trading ecosystem. This is how digital asset trading should be—secure, compliant, and built on trust." As off-exchange settlement gains traction across the industry, KuCoin will continue to work with global leaders in compliance and custody to build a more secure and trustworthy digital asset trading environment. About KuCoin Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and exceptional user experience. With a connected user base exceeding 41 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as "Best Crypto Apps & Exchanges" by Forbes and has been recognized among the "Top 50 Global Unicorns" by Hurun in 2024. This recognition reflects its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence. Learn more at: About BitGo BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the Singapore is licensed as a Major Payment Institution by the Monetary Authority of Singapore (MAS). For more information, visit
Business Wire
15-05-2025
- Entertainment
- Business Wire
Falcon's Beyond Acquires Oceaneering Entertainment Systems (OES), Strengthening Position as a Global Leader in Advanced Ride and Show Systems
ORLANDO, Fla.--(BUSINESS WIRE)--Falcon's Beyond Global, Inc. (Nasdaq: FBYD) ('Falcon's Beyond', 'Falcon's' or the 'Company'), a visionary leader in innovative and immersive storytelling announced today that Falcon's has acquired Oceaneering Entertainment Systems (OES), a division of Oceaneering International Inc. (NYSE: OII) ('OII'). In the transaction, Falcon's purchased OES's global portfolio of patented technologies, proprietary engineering and manufacturing processes. Falcon's also assumed the lease for a 106,000+ square-foot facility to bolster Falcon's research, development, testing, and integration services. In addition, Falcon's has hired key members of OES' highly experienced team. Falcon's also has an option to acquire certain OES inventory exercisable on or before July 23, 2025. The transaction follows a letter of intent previously announced on November 19, 2024, with Falcon's, rather than Infinite Acquisitions Partners LLC, making the purchase. For more than 25 years, OES has been a trusted provider to the world's top theme park developers and operators. OES' trailblazing legacy includes the creation of complex and award-winning rides, show systems, equipment, and custom engineering solutions. OES has received 12 prestigious Thea Awards from the Themed Entertainment Association for its ride & show systems including The Amazing Adventures of Spider-Man® and Transformers: The Ride 3D™ at Universal Orlando Resort, Justice League™: Battle for Metropolis at Six Flags, and the Shuttle Launch Experience® at the Kennedy Space Center. Falcon's and OES have enjoyed a collaborative relationship for over two decades, deploying groundbreaking themed entertainment projects around the world. 'The powerful combination of Falcon's innovation with OES's technical and engineering expertise is a game changer,' said Cecil D. Magpuri, CEO and Co-Founder of Falcon's Beyond. 'OES has been behind some of the best attractions and experiences in the world. Together, we're ushering in a new era for the global experience economy.' The acquisition significantly enhances and accelerates the growth of Falcon's Attractions as a vertically integrated global provider of advanced entertainment systems, technologies, custom engineering and advanced turn-key solutions. Strategically, this acquisition expands Falcon's Attractions services, diversifies its client portfolio, expands market reach and provides new revenue streams. It is expected to be accretive to future earnings, support long-term growth objectives and enhance shareholder value. It also amplifies Falcon's ability to serve its growing slate of destination developments and third-party clients with comprehensive next-generation attractions. Going forward, Falcon's will provide support for all legacy OES products, ensuring continuity with the same personnel and technology that was provided by OES as the original equipment manufacturer (OEM). 'Falcon's Attractions has onboarded a deep bench of the top entertainment systems experts in the industry,' said Dave Mauck, President of Falcon's Attractions (former Vice President and General Manager of OES). 'I've worked with some of these team members for decades, and their collective experience is truly remarkable. As Falcon's, we offer an unparalleled combination of creative, technical, and operational excellence that will revolutionize the experiential entertainment industry.' This acquisition underscores Falcon's strategic vision to become the premier platform company in the experience economy — where storytelling, design, and technology converge to shape the next generation of consumer experiences worldwide. To learn more about Falcon's Attractions, visit About Falcon's Beyond Falcon's Beyond is a visionary innovator in immersive storytelling, sitting at the intersection of three potential high growth business opportunities: content, technology, and experiences. Falcon's Beyond propels intellectual property (IP) activations concurrently across physical and digital experiences through three core business units: Falcon's Creative Group ('FCG') creates master plans, designs attractions and experiential entertainment, and produces content, interactives and software. ('FCG') creates master plans, designs attractions and experiential entertainment, and produces content, interactives and software. Falcon's Beyond Destinations ('FBD') develops a diverse range of entertainment experiences using both Falcon's Beyond owned and third party licensed intellectual property, spanning location-based entertainment, dining, and retail. ('FBD') develops a diverse range of entertainment experiences using both Falcon's Beyond owned and third party licensed intellectual property, spanning location-based entertainment, dining, and retail. Falcon's Beyond Brands ('FBB') endeavors to bring brands and intellectual property to life through animation, movies, licensing and merchandising, gaming as well as ride and technology sales. Falcon's Beyond also invents immersive rides, attractions and technologies for entertainment destinations around the world. FALCON'S BEYOND and its related trademarks are owned by Falcon's Beyond. Falcon's Beyond is headquartered in Orlando, Fla. Learn more at Falcon's Beyond may use its website as a distribution channel of material Company information. Financial and other important information regarding the Company is routinely accessed through and posted on our website at In addition, you may automatically receive email alerts and other information about Falcon's when you enroll your email address by visiting the Email Alerts section at Cautionary Note Regarding Forward-Looking Statements This press release contains statements that are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, words such as 'is', 'ushering', 'will,' 'would', 'enhance', 'accelerate', 'expand', 'expected', 'amplifies', 'revolutionize', 'ensuring', 'become' and similar expressions identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those expressed in or implied by the forward-looking statements, including (1) any failure to realize the anticipated benefits of the acquisition of OES, (2) risks related to legacy OES products and our ability to service such products, (3) the risk that the OES acquisition, integration of the OES personnel we hired, and efforts to grow Falcon's Attractions disrupts our other operations, (4) our ability to grow current and future potential customer relationships, (5) our ability to sustain our growth, effectively manage our anticipated future growth, and implement our business strategies to achieve the results we anticipate, (6) our current liquidity resources raise substantial doubt about our ability to continue as a going concern, (7) impairments of our intangible assets and equity method investment in our joint ventures, (8) our ability to raise additional capital, (9) the closure of Katmandu Park DR and the repositioning and rebranding of our FBD business, (10) the success of our growth plans in FCG, (11) our customer concentration in FCG, (12) the risk that contractual restrictions relating to the Strategic Investment may affect our ability to access the public markets and expand our business, (13) the risks of doing business internationally, including in the Kingdom of Saudi Arabia, (14) our indebtedness, (15) our dependence on strategic relationships with local partners in order to offer and market our products and services in certain jurisdictions, (16) our reliance on our senior management and key employees, and our ability to hire, train, retain, and motivate qualified personnel, (17) cybersecurity-related risks, (18) our ability to protect our intellectual property, including the intellectual property purchased from OES, (19) our ability to remediate identified material weaknesses in our internal controls over financial reporting, (20) the concentration of share ownership and the significant influence of the Demerau Family and Cecil D. Magpuri, (21) the outcome of pending, threatened and future legal proceedings, (22) our continued compliance with Nasdaq continued listing standards, (23) risks related to our Up-C entity structure and the fact that we may be required to make substantial payments to certain unitholders under our Tax Receivable Agreement, and (24) the risks disclosed under the caption 'Risk Factors' in the Company's most recent Annual Report on Form 10-K, and the Company's other filings with the Securities and Exchange Commission. The forward-looking statements herein speak only as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
Los Angeles Times
19-03-2025
- Business
- Los Angeles Times
SoCalGas Announces First Renewable Natural Gas Contract Approved Under California Program
Southern California Gas Company (SoCalGas) has announced via press release that it has executed a contract with Organic Energy Solutions (OES) to procure renewable natural gas (RNG) converted from organic waste and inject it into SoCalGas' pipeline system. The contract is the first approved by the California Public Utilities Commission (CPUC) under Senate Bill (SB) 1440, which sets specific RNG procurement targets for the state's natural gas utilities. The RNG will be sourced from a project located in the city of San Bernardino and is an important step toward achieving California's goal to reduce methane emissions from agriculture and waste while advancing energy decarbonization in the state. SB 1440 is recognized as the nation's first renewable gas standard and led the CPUC to set goals for the procurement of RNG, also known as biomethane, which is made from the organic waste of wastewater treatment plants, dairies, landfills, agricultural practices and forestry residues. Depending on its source, RNG can be carbon negative, meaning it captures more greenhouse gases than it emits. SoCalGas aims to replace approximately 12% of the traditional natural gas it delivers to residential and small business customers with RNG by 2030, pursuant to the targets that have been established under SB 1440 by the CPUC. The new RNG standard is expected to help the state achieve its goal to reduce methane emissions by 40% by 2030. 'As the first RNG procurement project under California's renewable gas standard, this contract represents an important milestone for the RNG industry and SoCalGas as we work together to advance California's energy goals,' said Elsa Valay-Paz, vice president of gas acquisition at SoCalGas. 'By converting waste that would otherwise end up in landfills into usable energy, this project is intended to help reduce greenhouse gas emissions, improve air quality and help California reach its climate goals.' 'At OES, we are proud to unite with SoCalGas on this groundbreaking renewable natural gas project, which marks a significant step forward in California's transition to cleaner energy. By converting organic waste into a valuable energy resource, we aim to not only reduce greenhouse gas emissions but also create a more sustainable and resilient energy future,' said Brian Hume, senior vice president of operations for BioStar Renewables, owner of OES. 'This collaboration underscores our commitment to innovation in waste-to-energy solutions and our shared vision for a cleaner, more sustainable California.' OES, a company specializing in biomass processing and fuel production, will collect organic waste – a source of greenhouse gas emissions (GHGs) – from local industrial and food waste and process it in an anaerobic digester which speeds up natural decomposition. Methane emissions from the decomposition process are captured and converted into RNG, which will then be injected into the SoCalGas pipeline system. The project is expected to begin supplying RNG to SoCalGas' system in the second half of 2026. 'SoCalGas' progress toward RNG procurement targets established under California's SB 1440 will be watched closely by counterparts and policymakers in other U.S. states, with the potential for agreements like these to create a powerful precedent for lasting energy system change,' said Sam Wade, vice president of public policy for RNG Coalition. 'RNG is an innovative climate solution that converts methane emissions from organic waste into a low-carbon replacement for fossil fuels, making it a cleaner fit for long-term decarbonization plans at the utility level.' Information for this article was sourced from PR Newswire.
Associated Press
18-03-2025
- Business
- Associated Press
SoCalGas Announces First Renewable Natural Gas Contract Approved Under California Program
LOS ANGELES, March 18, 2025 /PRNewswire/ -- Southern California Gas Company (SoCalGas) today announced it executed a contract with Organic Energy Solutions (OES) to procure renewable natural gas (RNG) converted from organic waste and inject it into SoCalGas' pipeline system. The contract is the first approved by the California Public Utilities Commission (CPUC) under Senate Bill (SB) 1440 which sets specific RNG procurement targets for the state's natural gas utilities. The RNG will be sourced from a project located in the city of San Bernardino and is an important step toward achieving California's goal to reduce methane emissions from agriculture and waste while advancing energy decarbonization in the state. SB 1440 is recognized as the nation's first renewable gas standard and led the CPUC to set goals for the procurement of RNG, also known as biomethane, which is made from the organic waste of wastewater treatment plants, dairies, landfills, agricultural practices and forestry residues. Depending on its source, RNG can be carbon negative, meaning it captures more greenhouse gases than it emits. SoCalGas aims to replace approximately 12% of the traditional natural gas it delivers to residential and small business customers with RNG by 2030, pursuant to the targets that have been established under SB 1440 by the CPUC. The new RNG standard is expected to help the state achieve its goal to reduce methane emissions by 40% by 2030. 'As the first RNG procurement project under California's renewable gas standard, this contract represents an important milestone for the RNG industry and SoCalGas as we work together to advance California's energy goals,' said Elsa Valay-Paz, vice president of gas acquisition at SoCalGas. 'By converting waste that would otherwise end up in landfills into usable energy, this project is intended to help reduce greenhouse gas emissions, improve air quality and help California reach its climate goals.' 'At OES, we are proud to unite with SoCalGas on this groundbreaking renewable natural gas project, which marks a significant step forward in California's transition to cleaner energy. By converting organic waste into a valuable energy resource, we aim to not only reduce greenhouse gas emissions but also create a more sustainable and resilient energy future,' said Brian Hume, senior vice president of operations for BioStar Renewables, owner of OES. 'This collaboration underscores our commitment to innovation in waste-to-energy solutions and our shared vision for a cleaner, more sustainable California.' OES, a company specializing in biomass processing and fuel production, will collect organic waste – a source of greenhouse gas emissions (GHGs) – from local industrial and food waste, and process it in an anaerobic digester which speeds up natural decomposition. Methane emissions from the decomposition process are captured and converted into RNG, which will then be injected into the SoCalGas pipeline system. The project is expected to begin supplying RNG to SoCalGas' system in the second half of 2026. Organic waste in landfills contributes to approximately 20% of California's methane emissions. Once operational, OES estimates the project will prevent approximately 15,300 tons of GHGs from entering the atmosphere each year, which is the equivalent to the energy usage of 2,984 homes per year or 1.7 million gallons of consumed gasoline. RNG is already helping reduce emissions from trucks and buses, contributing to cleaner air. In 2019, SoCalGas began replacing traditional compressed natural gas with RNG at its fueling stations to help reduce GHGs. Since 2020, the RNG supplied at SoCalGas' 37 fueling stations has been classified as carbon negative by the California Air Resources Board (CARB). SoCalGas continues to advance its efforts to decarbonize the fuel it transports, delivering approximately 5% RNG to customers since 2023. 'SoCalGas' progress toward RNG procurement targets established under California's SB 1440 will be watched closely by counterparts and policymakers in other U.S. states, with the potential for agreements like these to create a powerful precedent for lasting energy system change,' said Sam Wade, vice president of public policy for RNG Coalition. 'RNG is an innovative climate solution that converts methane emissions from organic waste into a low-carbon replacement for fossil fuels, making it a cleaner fit for long-term decarbonization plans at the utility level.' SoCalGas' RNG initiatives support California's clean air and climate goals, including the CARB Scoping Plan, which projects RNG will play a vital role in reducing GHGs and decarbonizing industrial buildings and processes, as well as the transportation sector. The California Integrated Energy Policy Report also found that RNG can significantly reduce GHGs and pollutant emissions compared to conventional diesel trucks. For more information on SoCalGas' RNG initiatives, visit . About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit or connect with SoCalGas on social media @SoCalGas. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as 'believe,' 'expect,' 'intend,' 'anticipate,' 'contemplate,' 'plan,' 'estimate,' 'project,' 'forecast,' 'envision,' 'should,' 'could,' 'would,' 'will,' 'confident,' 'may,' 'can,' 'potential,' 'possible,' 'proposed,' 'in process,' 'construct,' 'develop,' 'opportunity,' 'preliminary,' 'initiative,' 'target,' 'outlook,' 'optimistic,' 'poised,' 'positioned,' 'maintain,' 'continue,' 'progress,' 'advance,' 'goal,' 'aim,' 'commit,' or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitration and other proceedings, and changes (i) to laws and regulations, including those related to tax, (ii) due to the results of elections, and (iii) in trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, and on Sempra's website, Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.
