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Government of Canada Announces Cabinet Directive for Clean Growth Projects

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OTTAWA, ON, July 5, 2024 /CNW/ – Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources and member of the Ministerial Working Group on Regulatory Efficiency for Clean Growth Projects, announced a new Cabinet Directive on Regulatory and Permitting Efficiency for Clean Growth Projects at the Energy and Mines Ministers’ Conference in Calgary, Alberta.

Getting clean growth projects built is how we create and support good, well-paying jobs, grow our economy and fight climate change. The government is taking concrete steps to get good projects built faster and help Canadians take advantage of these opportunities.

At its core, the Cabinet Directive will ensure clean growth projects get built faster by providing whole-of-government direction to federal officials to accelerate decision-making. This is the first major deliverable from the government’s Action Plan, announced two weeks ago, Building Canada‘s Clean Future. As federal departments work together to implement items outlined in the Action Plan, this Cabinet Directive establishes governance and accountability structures to improve coordination across federal entities and provide investors and project proponents with the certainty they need to build.

The Ministerial Working Group on Regulatory Efficiency for Clean Growth Projects has been exploring ways to improve federal assessment and permitting processes for clean growth projects since 2023. The Working Group has heard from internal and external stakeholders to seek input and recommendations on enhancing system efficiency and predictability, including industry experts, labour leaders and Indigenous Peoples. This Cabinet Directive is the result of that work.

The Cabinet Directive will help get clean growth projects built faster by removing duplication and red tape, and ensuring coordinated consultations with Indigenous rights-holders, without compromising environmental and biodiversity protections. It outlines four concrete steps to improve efficiency:

Establishing a Federal Permitting Coordinator on clean growth projects within the Privy Council Office’s Clean Growth Office to coordinate activities across all federal entities responsible for reviewing clean growth projects.Standing up a new Federal Permitting Dashboard that will provide a public snapshot of the status of clean growth projects which require federal assessment and permitting decisions, to improve predictability and transparency from start to finish.Setting assessment and permitting targets of 5 years for federally designated projects, 2 years or less for non-federally designated projects, and 3 years for nuclear projects.Establishing a Crown Consultation Coordinator to ensure meaningful Crown consultation with Indigenous Peoples on the issuance of federal authorizations.

The Government of Canada is taking action to help Canadian businesses, workers, communities, and Indigenous Peoples seize the economic opportunities ahead, fight climate change, and make life more affordable. By making sure assessment and permitting processes are more efficient and timelier, we will secure investments, attract and accelerate clean growth projects, and build the projects that position us for success now and for generations to come.

Quotes

“The global race is on to build the projects, technologies, and industries of the future – today. We are securing Canada’s place as a leader. This Cabinet Directive is an important step forward in getting everyone on board to seize the enormous economic opportunities in front of us. Regulatory permitting reform is unlocking more projects, faster, on the path to a strong, sustainable, and prosperous future for all Canadians.”

— The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and member of the Ministerial Working Group on Regulatory Efficiency for Clean Growth Projects

“We need to build big things in this country. And we can, because we’ve got the resources, we’ve got the people, and we’ve got the wherewithal. This is our plan to give industry, investors and workers the certainty and confidence they need to build.”

— The Honourable Seamus O’Regan Jr., Minister of Labour and Seniors, and Chair of the Ministerial Working Group on Regulatory Efficiency for Clean Growth Projects

Quick Facts

Budget 2023 committed to improving the efficiency of assessment and permitting processes for clean growth projects, with the goal of heightening investor confidence and advancing the net-zero economy. As regulatory processes for clean growth projects implicate many federal government departments, the Ministerial Working Group on Regulatory Efficiency for Clean Growth Projects was formed in 2023 to lead this work.On June 20, 2024, the Ministerial Working Group on Regulatory Efficiency released Building Canada‘s Clean Future: A plan to modernize federal assessment and permitting processes to get clean growth projects built faster. Measures outlined in the plan will reduce duplication, improve predictability and transparency, and overall increase the efficiency of our regulatory system for clean growth projects, to ensure timely decisions and faster accomplishments – without cutting corners.The action plan and Cabinet Directive are part of new measures for regulatory efficiency announced in Budget 2024. This includes an additional $9 million over three years to the Privy Council Office for the Clean Growth Office to oversee federal coordination of major clean growth projects, including implementation of the action plan on regulatory efficiency for clean growth projects.

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SOURCE Minister of Energy and Natural Resources

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tKash Celebrates 1st Anniversary with Major Milestones and Exciting Promotions

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Achieving 100,000 Registrations, International Reach, and Celebratory Promotions Highlight tKash’s Remarkable First Year

KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — tKash, a pioneering financial services app, is celebrating its first anniversary with notable achievements and exciting promotions. Launched with a vision to simplify financial transactions, tKash has reached impressive milestones, including 100,000 registrations and up to 10,000 daily active users.

Since its inception, tKash has been dedicated to providing seamless and secure financial services. The app has enabled users to transfer up to RM 1 million across borders, offering peace of mind with its reliable and efficient service. In addition to money transfers, tKash provides convenient currency exchange services for up to 10 countries’ currencies, including Bangladesh, Indonesia, India, the Philippines, Pakistan, Singapore, Vietnam, Thailand, and Myanmar.

One of the standout features of tKash is its Live FC (foreign currency) Rates, which allows users to track currency fluctuations in real time, ensuring they make informed decisions when exchanging currencies.

The company’s growth and success have not gone unnoticed. tKash proudly featured its video on the iconic New York Times Square billboard and displayed billboards in Kuala Lumpur, enhancing its brand visibility on an international scale. Influencers from countries such as Thailand have shared positive reviews on social media, further boosting tKash’s presence on social media.

To celebrate its first anniversary, tKash is running a special promotion where users who refer their friends have the chance to share in a RM100,000 prize pool, making it even more rewarding to engage with the app. The company continues to innovate, with regular updates to its app, which are available for download on both the PlayStore and AppStore. In January 2024, tKash launched its official website, providing users another platform to access its services.

In just one year, tKash has proven to be a game-changer in the financial services industry, making everyday transactions smoother and more accessible. With its tech-savvy team and commitment to customer satisfaction, tKash is poised for continued growth and success.

tKash is a leading financial services app committed to making financial transactions easier and more accessible. With secure money transfers, real-time currency exchange rates, and a user-friendly interface, tKash transforms how people manage their finances. For more information, visit tKash.co.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/tkash-celebrates-1st-anniversary-with-major-milestones-and-exciting-promotions-302201283.html

SOURCE tKash

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Saronic Raises $175 Million in Series B Funding, Valuing Company at $1 Billion

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Funding will accelerate Saronic’s growth and further scale production of its autonomous surface vessels for the U.S. Navy and its allies

AUSTIN, Texas, July 19, 2024 /PRNewswire/ — Saronic, a defense technology leader that designs and manufactures autonomous surface vessels (ASVs), today announced a $175 million Series B raise placing the company’s valuation at $1 billion. The funding round was led by Andreessen Horowitz (a16z), with participation from both new and existing investors, including 8VC, Caffeinated Capital, Elad Gil, and NightDragon, among others.

Saronic is redefining maritime superiority for the U.S. Navy and its allies by delivering the most effective and advanced ASVs at the speed and scale needed to meet the rapidly growing needs of the Joint Force. Saronic’s ASVs are designed to serve as a force multiplier for the existing Fleet, working alongside manned systems to allow naval forces to go farther and do more with less risk to life and mission. 

“We are creating an entirely new capability for the maritime domain, one that delivers naval power without the costs and delays of a shipyard,” said Saronic CEO Dino Mavrookas. “As the future of naval warfare will rely on manned and unmanned teaming, we must build solutions that easily integrate into the existing fleet and can be produced at scale to meet any emerging threat. We are grateful to our investment partners who believe so strongly in Saronic’s ability to meet that need.”

Saronic’s investor group is composed of firms committed to ensuring that the U.S. military maintains its decisive advantage in the face of an increasingly complex and competitive global threat landscape through the integration of advanced technology and innovative capabilities that truly meet the needs of the warfighter. 

“Our nation’s future depends on us continuing to build and deploy the best, most innovative technology” said Katherine Boyle, General Partner at a16z. “Saronic is developing the solutions we need to protect the warfighter and stay ahead of our adversaries, and we are proud to support their continued growth.”

This new investment will accelerate Saronic’s growth both domestically and internationally. At home, it will allow further expansion of Saronic’s in-house manufacturing capabilities and enable increased production of all its ASV models. Additionally, it will advance the research and development of new autonomous capabilities for naval and maritime forces, including increased technology and payload integration with government and commercial partners. Internationally, this investment will support Saronic’s expansion to more fully serve U.S. allies and partners in key markets.

“To deter China and other adversaries, the United States and our allies must bring intelligent, autonomous new capabilities to naval warfare,” said Alex Moore, Partner at 8VC. “Saronic delivers these capabilities on a relevant scale and timeline, and has enlisted the top engineers and operators in the industry.”

Saronic’s family of ASVs includes Spyglass (6′), Cutlass (14′) and Corsair, its largest model, which is currently in development and testing. Each vessel features integrated autonomous capabilities to meet a customer’s specific requirements and can carry diverse payloads in communication- and GPS-denied environments. Through the vertical integration of hardware and software as well as the use of a Modular Open Systems Architecture (MOSA), Saronic’s ASVs deliver greater interoperability at a price point that makes them attritable. Having a cost-effective capability that can be deployed without putting human operators in harm’s way increases the survivability of the fleet and enables commanders to engage in situations where the risk is too high to deploy a traditional manned system.

For more information about Saronic, please visit: https://www.saronic.com.  

Media Contact: Press@saronic.com 

 

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SOURCE Saronic

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Summit-Friendship Solar Village Receives Reuters’ Global Energy Transition Awards 2024

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SINGAPORE, July 19, 2024 /PRNewswire/ — The ‘Summit-Friendship Solar Village’ project, located in Kabilpur within the Gaibandha district of Bangladesh, has received the prestigious Reuters’ Global Energy Transition Awards 2024 under the ‘Projects of Impact’ category in New York, USA on 25th June 2024. Among 500 entries this year from around the globe, this project was nominated for its concrete results in terms of improved energy affordability, and compensation for losses to improve local resilience for climate change.

This 57.6 kW scalable solar microgrid now benefits the 3,000 inhabitants of Kabilpur, Gaibandha. Kabilpur itself is a char—a remote sedimentary landmass found within a river—but finds itself ideally placed to act as hub for neighbouring chars within the Jamuna River, upon which it is situated.

“Summit wants to serve 100% of Bangladesh with infrastructure such as electricity and communication. Most chars fall outside the national grid. I believe these chars, like the rest of Bangladesh, deserve electricity. The award-winning NGO, Friendship, has done wonders. It’s a privilege to provide solar energy to the 3,000 people of Kabilpur Char in association with Friendship,” remarked Muhammed Aziz Khan, Chairman of Summit Power International.

“Anyone who has seen the Jamuna River in its full might will understand that mainline power grids are not really possible here. On the other hand, this solar grid will provide income-generating opportunities and livelihoods, as well as opportunities for children’s education in order for hope and dignity to thrive. We want to thank Summit for its support,” said Runa Khan, the founder of Friendship.

The solar village plays an integral role in allowing people from these isolated communities to have access to “modern” amenities, and have longer operational hours for both business and commerce, alongside academics and home use. Additionally, renewable solar energy also equates to less reliance on traditional kerosene lamps, which burn fossil fuels with toxic consequences.

About Summit Power International 

Summit Group is the largest infrastructure conglomerate in Bangladesh. Summit Power International Ltd (SPI), headquartered in Singapore, is the largest Independent Power Producer (IPP) in Bangladesh reflecting 17% of Bangladesh’s total private installed capacity and 7% of nation’s total installed capacity. In addition, it owns and operates a Floating Storage and Regasification Unit (FSRU) vessel and supplies 500 million cubic feet per day (mmcfd) of regasified LNG to Bangladesh. In 2019, Summit’s FSRU received equity investment from Mitsubishi Corporation. In 2019, JERA Co., Inc. (JERA), had acquired a 22% stake in Summit Power International. Recently, it has proposed the development of the country’s third FSRU and the Cabinet Committee on Economic Affairs has provided in-principle approval of the proposal in mid-June 2023. Most notably, the Meghnaghat II, which is a dual-fuel CCGT GE H Class plant with gross capacity of 590 MW on LNG, achieved the commercial operation date milestone on 26 April 2024.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/summit-friendship-solar-village-receives-reuters-global-energy-transition-awards-2024-302201358.html

SOURCE Summit Power International

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