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ITMO Ltd and BancTrust Investment Bank Limited Announce the Offering of the World’s First Sovereign Carbon Credits from the Republic of Suriname under Article 6 of the Paris Agreement

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2 years ago

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This is a historic moment for the carbon markets, as these are the first UNFCCC Paris Agreement authorised Internationally Transferred Mitigation Outcomes (ITMOs) netted at national level, providing global atmospheric integrity and national co-benefits: biodiversity, Sustainable Development Goals (SDGs), economic, social and governance benefits to the local and indigenous communities in Suriname.

LONDON, Aug. 22, 2024 /PRNewswire/ — ITMO Ltd and BancTrust Investment Bank Limited (BancTrust) have announced, together with the Republic of Suriname, the offering (1.5 mtCO2e) of the world’s first UNFCCC Paris Agreement authorised ITMOs verified under Article 6. These are carbon reduction ITMOs vintage 2021 that represent rainforest conservation for the whole country of Suriname and come after 3 years of due process and due diligence with Suriname and the UNFCCC.

ITMO Ltd and BancTrust Announce the Offering of the World’s First Sovereign Carbon Credits from the Republic of Suriname

The fully UNFCCC REDD+ verified and validated at national and international level offering of these Sovereign Carbon Credits represents more than just carbon tons; they are also a proxy for a wide range of additional value to the environment:

Protecting rainforest in Suriname;Conserving Suriname’s Biodiversity under the Cancun Safeguards;Supporting all 17 SDGs within Suriname;Contributing to the country’s Nationally Determined Contribution;Providing Economic, Social and Governance benefits to the local and indigenous communities by returning at least 95% of proceeds to the issuing country.

These are the world’s first carbon credits from the new Paris Agreement Carbon Markets where countries are allowed to issue and trade their Sovereign Carbon with other countries and the private sector.

The official launch and offering announcement were made at the Climate Investment Summit at the London Stock Exchange in front of hundreds of companies and investors.

The demand for Carbon Credits that fulfil the Paris Agreement is exponential as more and more corporates and countries need to meet their net-zero targets by 2030 and 2050 with carbon reductions and removals.

These ITMOs are a highly scalable Paris Agreement compliant solution to help meet the 1.5c target, and are the second most impactful climate mitigation solution according to the IPCC.

Interested buyers and investors can contact either ITMO Ltd or BancTrust for further information about Suriname, ITMOs and the Paris Agreement Carbon Market registry today.

Ian Robinson, CEO of ITMO Capital said: “We are very proud to be issuing the world’s first Carbon Credits under the Paris Agreement as more and more corporates and investors are demanding carbon credits of the highest scientific and carbon integrity…”

Carlos Fuenmayor, Chief Executive at BancTrust said: “We are thrilled to participate in the world’s debut ITMO issuance as global investors demand a more robust and transparent carbon credit marketplace.

About ITMO Ltd.
ITMO Ltd. (www.itmo.com) supports nations, corporations and financial institutions transition to Net-Zero, at speed and scale, through the Paris Agreement Carbon Market. ITMO Ltd. sources, structures, and sells Paris-Compliant Sovereign Carbon Credits (ITMOs), at Gigaton Scale, with Economic, Social, and Environmental benefits. The first ITMOs are currently being issued by Rainforest countries. ITMO Ltd. is a private company based in the USA and the UK developing the Paris

Agreement Carbon Market, its infrastructure, its products and its credibility through three units: ITMO Tech (Structuring, Platform & Registries), ITMO Capital (Selling, Syndication & Distribution) and ITMO Research (Data, Analytics & Research). ITMO Ltd. is an affiliate of the Coalition for Rainforest Nations.

About BancTrust
BancTrust Investment Bank Limited (www.banctrust.com) is a London-based investment bank focused on emerging markets that offers corporate and investment banking, securities dealing and financing, investment research products and services to a diversified client base mainly comprised of emerging and frontier markets-based corporations, financial institutions, governments, and dedicated global EM asset managers.

Contact
ITMO Ltd:
For Press enquiries contact Michael Mathres, Chief Marketing Officer – michael@itmo.com
For Sales contact Nicky Candler, Head of Sales, ITMO Capital – Nicky@itmo.com 

BancTrust:
For Press enquiries contact Maria Magurno, Head of Marketing and Communications – mmagurno@banctrust.com  
For Sales contact Ian Gladen, Head of Treasury, BancTrust Investment Bank Limited – IGladen@banctrust.co.uk  

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SOURCE BancTrust Investment Bank Limited

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

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38 minutes ago

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July 23, 2026

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

Published

38 minutes ago

on

July 23, 2026

By

NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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Fathom Applauds Introduction of the FRONTIER Act, the First Federal Blueprint for Independent AI Verification

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38 minutes ago

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July 23, 2026

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Reps. Lori Trahan (D-MA-03) and Jay Obernolte (R-CA-23) introduce a bill to build a competitive marketplace of independent verifiers for frontier AI models.

WASHINGTON, July 23, 2026 /PRNewswire/ — Fathom welcomes the introduction of the FRONTIER Act, the most complete federal framework yet for independent, third-party verification of frontier AI. The legislation is built to earn public trust as AI technology continues to accelerate. As frontier systems begin to take autonomous action in the world, the gap between what these models can do and our ability to keep them in check is widening. FRONTIER is the starting point to close that gap.

“AI governance keeps running into the same wall. The technology is hard to measure and it moves faster than any law can keep up with,” said Andrew Freedman, Co-Founder and CEO of Fathom. “Trying to write the perfect rules and freezing them in place won’t work. What will work is a competitive market of independent verifiers who are accountable for real-world outcomes and who the government can actually count on. The FRONTIER Act shows we can move fast and still get this right.”

The bill gets the fundamentals correct. It sets one public standard – the adequate mitigation of catastrophic risk – and holds both the AI companies and their independent verifiers accountable to it. FRONTIER does not freeze a single testing method into statute. Instead, it licenses competing verification organizations, allows them to sharpen their methods, and gives the government the power to revoke a license when a verifier’s work does not hold up in the field. That is how you build a system that keeps pace with the science instead of falling behind it.

Fathom thanks Reps. Trahan and Obernolte for their leadership, and for their courage in releasing a discussion draft, inviting scrutiny, and incorporating substantive improvements from across the field. One priority improvement as the bill advances: giving the government a fuller range of tools to act upstream – for pushing companies to close identified gaps in risk mitigation early, rather than only once a catastrophe is imminent. We are committed to working with these sponsors, committees of jurisdiction, and Congressional leadership to continue refining the bill in the weeks and months ahead.

About Fathom
Fathom is an independent nonprofit whose mission is to build a governance architecture that helps society navigate the transition to a world with AI by fostering trust, safety, and innovation. Fathom has developed and championed the independent verification model for AI and works with policymakers across the country to put it into practice. Learn more at http://fathom.org.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fathom-applauds-introduction-of-the-frontier-act-the-first-federal-blueprint-for-independent-ai-verification-302833546.html

SOURCE Fathom AI Inc.

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