Latest news with #SPRINT
India Gazette
18-05-2025
- Business
- India Gazette
Union Minister Jitendra Singh hails IIT Ropar for promoting Agri StartUps in smaller towns
New Delhi [India], May 18 (ANI): Union minister of State for Science and Technology Jitendra Singh has hailed the IIT Ropar, which is relatively new compared to other IITs having been established only in 2008, for promoting Agri StartUps in smaller towns and expressed satisfaction at the fact that nearly 50 percent of India's StartUps are now from Tier 2 and Tier 3 towns. Addressing the Pragati Founder Forum, hosted by IIT Ropar and supported by the Department of Science and Technology (DST), Jitendra Singh observed that India's StartUp revolution is no longer confined to metro cities, the Ministry of Science and Technology said in a press release. In a compelling and forward-looking address, Union Minister of State (Independent Charge) Jitendra Singh debunked the myth that only IT ventures can be StartUps and hailed IIT Ropar for promoting high-potential Agri-StartUps through transformation of traditional sectors. 'This shift is a healthy sign of deep-rooted innovation,' he said, crediting Prime Minister Narendra Modi for democratizing entrepreneurship across India through the clarion call 'StandUp India, StartUp India' from the ramparts of Red Fort. Jitendra Singh underlined the role of StartUps as 'enablers' propelling India from the 'Fragile Five' to a future among the world's top five economies by 2047. Highlighting India's meteoric rise from 81st to 39th in the Global Innovation Index, he pointed to the role of S&T startups, Agri-innovation, and deep tech in contributing to India's economic growth. The S&T minister also emphasized that 70 percent of resource allocation under the upcoming Anusandhan NRF (National Research Foundation) will come from non-government sectors, boosting public-private synergy. Singh showcased the Purple Revolution as a hallmark of grassroots innovation -- lavender cultivation that began in hilly towns of Jammu & Kashmir, now flourishing in Himachal Pradesh and Uttarakhand, with over 3,000 startups profiting in this niche. '30 percent of these entrepreneurs are not even graduates,' the Minister noted, highlighting how government technical and financial support coupled with market linkages to perfumeries in Mumbai is transforming rural India into an enterprise hub. Singh awarded under the Investment category shortlisted after an exhaustive process. These StartUps were namely the Blu Cocoon Digital Pvt. Ltd. ; Rezovate Constructions Pvt. Ltd.; Wawe Technologies; Biofield Power Pvt. Ltd.; Karmath Engineering Pvt. Ltd. Singh also launched the 'SPRINT' - Haryana and Telangana Editions: Regional deep-tech innovation programs to support early-stage startups. The Minister unveiled the PRAGATI Report: A strategic blueprint for inclusive innovation and public-private partnership. The Minister launched the 'Farming on the Edge' Thematic Report: An in-depth study of challenges faced by small and marginal farmers. Singh virtually inaugurated Office of Intellectual Property & Technology Commercialisation (OITC): A step forward in IP creation and commercialization for Indian startups. Touching upon India's recent military-technological advancements, he referred to Operation Sindoor, a showcase of India's leadership in tech-enabled warfare, underlining the indigenous development, technology transfer, and joint efforts of private and government sectors -- with hubs in Hyderabad and Bengaluru. 'Early industry linkage is the key to StartUp success,' Singh advised, calling for awareness among students and parents alike. 'Let us introspect -- how many of those who joined expensive coaching centers over 25 years made it to the civil services?' he asked. He concluded by saying that 'As India accelerates towards its vision for 2047, the message is clear: Innovation, inclusion and intent are the pillars of India's ascent to global leadership.' Rekha Sharma, MP Rajya Sabha and former NCW Chairperson, who was also present for the programme emphasised the critical need for inclusive innovation and increased participation of women in startups. Prof. Abhay Karnadikar, Secretary, DST, highlighted India's rapid momentum in AI, Cyber-Physical Systems, and emerging technologies, reiterating the strategic role of the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS). (ANI)
Business Mayor
18-05-2025
- Business
- Business Mayor
Union Minister Jitendra Singh hails IIT Ropar for promoting Agri StartUps in smaller towns
Union minister of State for Science and Technology Jitendra Singh has hailed the IIT Ropar, which is relatively new compared to other IITs having been established only in 2008, for promoting Agri StartUps in smaller towns and expressed satisfaction at the fact that nearly 50 percent of India's StartUps are now from Tier 2 and Tier 3 the Pragati Founder Forum, hosted by IIT Ropar and supported by the Department of Science and Technology (DST), Jitendra Singh observed that India's StartUp revolution is no longer confined to metro cities, the Ministry of Science and Technology said in a press a compelling and forward-looking address, Union Minister of State (Independent Charge) Jitendra Singh debunked the myth that only IT ventures can be StartUps and hailed IIT Ropar for promoting high-potential Agri-StartUps through transformation of traditional sectors. 'This shift is a healthy sign of deep-rooted innovation,' he said, crediting Prime Minister Narendra Modi for democratizing entrepreneurship across India through the clarion call 'StandUp India, StartUp India' from the ramparts of Red Singh underlined the role of StartUps as 'enablers' propelling India from the 'Fragile Five' to a future among the world's top five economies by 2047. Highlighting India's meteoric rise from 81st to 39th in the Global Innovation Index, he pointed to the role of S&T startups, Agri-innovation, and deep tech in contributing to India's economic S&T minister also emphasized that 70 percent of resource allocation under the upcoming Anusandhan NRF (National Research Foundation) will come from non-government sectors, boosting public-private showcased the Purple Revolution as a hallmark of grassroots innovation — lavender cultivation that began in hilly towns of Jammu & Kashmir, now flourishing in Himachal Pradesh and Uttarakhand, with over 3,000 startups profiting in this niche.'30 percent of these entrepreneurs are not even graduates,' the Minister noted, highlighting how government technical and financial support coupled with market linkages to perfumeries in Mumbai is transforming rural India into an enterprise awarded under the Investment category shortlisted after an exhaustive process. These StartUps were namely the Blu Cocoon Digital Pvt. Ltd. ; Rezovate Constructions Pvt. Ltd.; Wawe Technologies; Biofield Power Pvt. Ltd.; Karmath Engineering Pvt. also launched the 'SPRINT' – Haryana and Telangana Editions: Regional deep-tech innovation programs to support early-stage Minister unveiled the PRAGATI Report: A strategic blueprint for inclusive innovation and public-private Minister launched the 'Farming on the Edge' Thematic Report: An in-depth study of challenges faced by small and marginal virtually inaugurated Office of Intellectual Property & Technology Commercialisation (OITC): A step forward in IP creation and commercialization for Indian upon India's recent military-technological advancements, he referred to Operation Sindoor, a showcase of India's leadership in tech-enabled warfare, underlining the indigenous development, technology transfer, and joint efforts of private and government sectors — with hubs in Hyderabad and Bengaluru.'Early industry linkage is the key to StartUp success,' Singh advised, calling for awareness among students and parents alike. 'Let us introspect — how many of those who joined expensive coaching centers over 25 years made it to the civil services?' he concluded by saying that 'As India accelerates towards its vision for 2047, the message is clear: Innovation, inclusion and intent are the pillars of India's ascent to global leadership.'Rekha Sharma, MP Rajya Sabha and former NCW Chairperson, who was also present for the programme emphasised the critical need for inclusive innovation and increased participation of women in startups. Prof. Abhay Karnadikar, Secretary, DST, highlighted India's rapid momentum in AI, Cyber-Physical Systems, and emerging technologies, reiterating the strategic role of the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS).
Yahoo
12-02-2025
- Business
- Yahoo
Desert Control Releases Q4 2024 Report and Year-to-Date Company Update
SANDNES, Norway, Feb. 12, 2025 /PRNewswire/ -- Desert Control AS (DSRT) announces its fourth quarter report and interim full-year financial results for the fiscal period ending 31 December 2024. Desert Control delivered a breakthrough year in 2024, securing its first full-scale commercial golf course clients, progressing agriculture pilots to larger deployments, increasing licensing revenue in the Middle East, and advancing technology scalability to accelerate commercialization and unlock high-volume deployments. Revenues and project volumes more than doubled from the previous year, and a growing pipeline positions the company for a more than tenfold increase in LNC volume and revenues for 2025. Q4-2024 Highlights: First Full-Scale Golf Course Deployments Secured: Desert Control signed agreements for 2025 deployments with two California golf courses under its new pay-as-you-save model, with a total contract value potential to exceed NOK 14 million. This recurring revenue model provides immediate financial benefits to customers, shortens sales cycles, and accelerates adoption. Record Licensing Growth in the Middle East: Licensing revenue and deployment activity tripled from Q3 to Q4, driven by expanding projects in the UAE and Saudi Arabia. Key agreements include commercial real estate projects in the UAE, and collaboration with Estidama to advance LNC for sustainable agriculture in Saudi Arabia. Selected for United Nations World Food Programme (WFP) Innovation Accelerator program: Desert Control's LNC technology was selected for a funded demonstration project in Iraq through the WFP Innovation Accelerator's SPRINT program. The project aims to restore degraded land into fertile soil, creating a blueprint for drought response, food security, and climate resilience. Next-Gen Production System Achieves 120,000 L/Hour Capacity: Successfully field-tested in the second half of 2024, the system with 8X capacity increase remains on track for commercial readiness in mid-2025, reducing costs and enabling large-scale deployments. Post-Quarter Agreement with North America's Largest Date Grower: On 15 January 2025, Desert Control secured a NOK 1.5 million contract with Oasis Date. LNC will be applied to 160 acres of the first Medjool date farm, with potential expansion across 5,000 acres. Financial Highlights: Desert Control more than doubled LNC revenues in 2024, supported by technology advancements, increased project volumes, and operational efficiencies. Revenue Growth: Full-year LNC revenue reached NOK 1.88 million, up from NOK 0.89 million recorded in 2023. Total Q4 2024 revenue was NOK 0.22 million, up from NOK 0.00 million in Q4 2023. EBITDA Improvement: Full-year EBITDA improved from NOK -60.05 million in 2023 to NOK -56.78 million in 2024, reflecting continued operational efficiencies and transitioning to the licensed operator model in the Middle East. This improvement, however, is even more significant than the headline figures suggest, demonstrating a substantial improvement in the Company's core operations. In Q4 2023, EBITDA was positively impacted by a one-time NOK 15.5 million gain from discontinued operations, inflating reported EBITDA to NOK 0.76 million. In comparison, Q4 2024 EBITDA was NOK -11.99 million. Excluding this one-off, Desert Control's EBITDA improvement is close to NOK 19 million for 2024 full year. In conclusion, the Company's burn rate remains lower than last year and aligns with previous projections, confirming that the current cash runway, excluding revenues, extends into Q4 2025 as planned. Cash Position: Desert Control ended 2024 with NOK 64 million in cash, compared to NOK 75 million at the end of Q3 2024 and NOK 119 million at the end of 2023. The company continues to operate with no interest-bearing debt. The combination of doubling revenue, improved EBITDA, and maintaining a cash position without debt underscores Desert Control's ability to scale efficiently. Advancements in production technology, including the next-generation LNC production system, are expected to strengthen profitability further and support growth as the company scales its operations and deployments in 2025. Outlook: Desert Control enters 2025 with strong momentum, scaling from pilot projects to larger-scale commercial deployments across golf, agriculture, and urban landscaping. The next-generation production system remains on track for mid-2025, unlocking greater capacity, cost efficiencies, and hardware sales revenue. With expanding licensing revenues, recurring revenue contracts, and a growing commercial pipeline, Desert Control is well-positioned for solid growth in its soil health and water conservation markets. Q4 Report 2024: The information enclosed is subject to the disclosure requirements pursuant to sections 5-12 of the Norwegian Securities Trading Act. The report can be downloaded from the company webpage: A webcast presentation for Desert Control Q4 2024 Report and Company Update is hosted on 12 February 2025 at 10.00 AM, Central European Time (CET). Register: Cautionary Note: Disclaimer related to forward-looking statements. This release contains forward-looking information and statements relating to the business, performance, and items that may be interpreted to impact the results of Desert Control and/or the industry and markets in which Desert Control operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims," "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "predicts," "projects," "targets," and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which Desert Control operates to differ materially from the statements expressed or implied in this release by such forward-looking statements. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements. For more information, please contact: Ole Kristian Sivertsen President and Group CEO Email: oks@ (NOR): +47 957 77 777 Mobile (USA): +1 650 643 6136 Leonard Chaparian Chief Financial Officer Email: (NOR): +47 90 66 55 40 About Desert Control: Desert Control develops innovative solutions to enhance soil health, conserve water, and promote ecosystem resilience. The company's mission is to combat desertification, soil degradation, and water scarcity. Our patented Liquid Natural Clay (LNC) transforms sandy, fast-draining soils to retain water and nutrients, improving soil health, crop yields, and ecosystem vitality while conserving water. Desert Control provides customized solutions to strengthen sustainability, profitability, and prosperity for agriculture, forests, and green landscapes. In collaboration with partners and clients, we aim to preserve natural resources, restore biodiversity, enhance food security, and ensure a climate-resilient future. For more information, visit This information was brought to you by Cision The following files are available for download: DC_Q4_2024Report View original content: SOURCE Desert Control AS Sign in to access your portfolio
