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Revolutionary Patent Centered Around Magma Driven Geothermal Energy Systems has been awarded to Magma Power™ LLC by The United States Patent & Trademark Office

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NEW YORK, Oct. 9, 2024 /PRNewswire/ — Magma Power LLC, a leader in geothermal energy innovation, proudly announces the issuance of a transformative patent for an advanced geothermal system that harnesses the intense heat generated by subterranean magma reservoirs. This cutting-edge technology represents a significant leap forward in geothermal energy utilization, offering a highly efficient and sustainable method for generating heated heat transfer fluids, such as steam, for a wide range of industrial applications, including electricity generation and industrial heating.

Revolutionizing Geothermal Energy with Magma Power

The patented geothermal system is designed to extract and utilize the immense heat generated by underground magma. The system centers around a wellbore that extends from the Earth’s surface deep into a magma reservoir, where an underground chamber is created to facilitate efficient heat transfer. The process begins with the formation of this chamber by injecting a pressurized fluid into the magma reservoir, displacing the magma, and creating a cavity lined with hardened magma.

Once the chamber is formed, the system transitions to a heat transfer operation where a heat transfer fluid—such as water, molten salt, or specialized thermal oils—is introduced into the wellbore. The fluid absorbs heat from the magma chamber and is then extracted to the surface, where it can be utilized for various thermal processes.

Key Features and Claims of the Patent

This comprehensive patent introduces several innovative features and claims that optimize the use of geothermal energy for heat transfer and industrial processes:

Initial and Final Configurations: The system operates in two primary configurations. Initially, during the formation of the underground chamber, a borehole is extended from the surface to the underground magma reservoir. A fluid conduit and a fluid pump are used to inject a pressurized fluid into the magma, displacing it to form a cavity that serves as the underground chamber. The internal surface of this chamber is partially lined with hardened magma. In the final configuration, the borehole and fluid conduit facilitate the circulation of heat transfer fluid between the underground chamber and the surface for efficient heat extraction.Chamber Formation and Maintenance: The system forms a cavity within the magma reservoir by displacing magma with a pressurized fluid. This cavity acts as the underground chamber, with its internal surface composed of hardened magma. During heat transfer operations, the system maintains this cavity by carefully controlling the pressure and flow rate of the heat transfer fluid, ensuring continuous and efficient heat extraction.Heat Transfer Fluid Options: The system is designed to utilize a variety of heat transfer fluids, including water, brine solutions, molten salts, ionic liquids, and nanofluids. These fluids are selected based on their ability to efficiently absorb and transfer heat from the magma chamber to the surface.High-Pressure Boilers and Heat Exchangers: To optimize the heat transfer process, the system includes high-pressure boilers and heat exchangers. These components ensure that the heat transfer fluid reaches the necessary temperature and pressure for effective energy conversion.Water Recycling and Flow Control: The system is equipped with a return conduit for recycling unreacted water back into the reaction chamber, enhancing efficiency and minimizing waste. Additionally, strategically placed valves in the inlet conduits allow precise control over the flow of materials into the chamber.Wellbore and Fluid Conduit Design: The fluid conduit, which extends from the surface to the underground chamber, is insulated to minimize heat loss during the transfer process. This design ensures maximum heat retention, improving the system’s overall efficiency.Thermal Process Subsystems: The system is designed to integrate with various thermal process subsystems, such as turbines, reaction vessels, condensers, water distillation systems, heat-driven chilling apparatuses, residential heating systems, agricultural systems, and aquaculture systems. The versatility of this design allows it to be deployed in a wide range of industrial applications.Sustained Cavity Pressure: The system ensures that the pressure within the underground chamber is maintained at a level that preserves the cavity’s structure, enabling sustained and efficient heat transfer operations.Magma-Resistant Chamber Surface: The underground chamber’s internal surface is designed to be partially composed of magma, which solidifies into a hardened layer, providing a robust and durable heat transfer zone.Molten Salt as a Heat Transfer Fluid: One of the preferred heat transfer fluids in this system is molten salt, known for its high heat capacity and stability at elevated temperatures, making it ideal for efficient energy transfer.Pressurized Fluid for Chamber Stability: The fluid pump is configured to maintain the cavity formed in the magma reservoir by controlling the pressure and flow rate of the heat transfer fluid, ensuring the chamber remains stable and functional during operations.Casing Within the Borehole: The system includes a casing disposed within the borehole that extends from the surface to just above the ceiling of the magma reservoir. This casing provides additional structural integrity to the borehole and aids in the safe and efficient transfer of fluids.Diverse Heat Transfer Fluid Capabilities: The system supports various heat transfer fluids, including water, brine, refrigerants, thermal oils, molten salt, ionic liquids, and nanofluids, allowing for flexibility in different industrial applications.Thermal Process Integration: The fluid conduit in the final configuration is coupled to a thermal process subsystem, enabling the transfer of heat to turbines, reaction vessels, condensers, and other industrial systems. This integration maximizes the utility of the geothermal energy extracted.Return Flow of Heat Transfer Fluid: After participating in thermal processes, a portion of the heat transfer fluid can be returned to the underground chamber, ensuring continuous operation and minimizing waste.Insulated Fluid Conduits: The fluid conduit includes an insulation layer to reduce heat loss during fluid transfer, maintaining the temperature and efficiency of the system.Water to Steam Conversion: The system can be configured to convert liquid water into steam within the wellbore, with the steam then directed to turbines for electricity generation, demonstrating the system’s versatility in power production.Operational Methodology: The method of operating this geothermal system includes forming the underground chamber by displacing magma, circulating heat transfer fluid into the chamber, and using the heated fluid in various thermal processes. The system is designed to maintain the chamber and optimize heat extraction throughout its operation.

Expert Insights on the Patent

Levi Conner, CEO of Magma Power LLC, emphasized the transformative potential of this innovation: “This patent represents a major leap forward in geothermal energy technology. By directly accessing the Earth’s geothermal heat through magma reservoirs, we’ve developed a system that can generate high-temperature fluids like steam with unparalleled efficiency. This technology not only provides a new source of clean energy but also has the potential to significantly reduce the carbon footprint of industrial processes.”

Richard McDonald, Chief Strategy Officer of Magma Power LLC, highlighted the system’s technological advancements: “The ability to create and maintain an underground chamber within a magma reservoir is a groundbreaking achievement. This method allows us to harness the Earth’s natural heat in a way that’s both safe and highly efficient. The system’s ability to use a variety of heat transfer fluids makes it versatile and adaptable to different industrial needs.”

KC Conner, Founder of Magma Power LLC, expressed his vision for the future: “This patent is a testament to our commitment to pushing the boundaries of renewable energy. By forming and utilizing an underground chamber within a magma reservoir, we’re tapping into one of the Earth’s most powerful heat sources. This innovation will enable industries to achieve new levels of efficiency and sustainability, and we’re excited to see the impact it will have on the global energy landscape.”

Looking Ahead

Magma Power LLC is actively engaging with industry leaders and potential partners to bring this groundbreaking geothermal system to the market. The company is committed to advancing sustainable energy solutions and is eager to see how this innovative technology will be integrated into existing and new energy infrastructures.

About Magma Power LLC

Magma Power LLC, (visit MagmaPower.com) headquartered in Tampa, Florida, with additional offices in New York City and Houston, is a pioneering energy technology company dedicated to developing cutting-edge solutions for harnessing renewable energy. Magma Power, LLC has secured eleven worldwide patents covering all aspects of the production of green energy, energy-intensive manufacturing, green fuels, and other products using Magma Power™. Magma Power, LLC has also filed an additional forty-six global patents covering all aspects of magma power production, with over 1,000 patent claims pending related to this revolutionary new green energy source. Magma power is a virtually unlimited source of green, renewable, baseload energy that U.S. government researchers in the 1970s, including those at Sandia National Laboratories, concluded could meet the Earth’s energy needs for the next several thousand years. The work of Magma Power, LLC has taken the initial insights from the Sandia Labs test and developed them into a robust, patent-protected technology ready for commercial deployment. Given the inability of wind and solar to provide stable baseload renewable power, there is no long-term alternative to magma power for renewable energy.  Magma Power is Inevitable.  It’s not a question of if magma power will power the Earth – but when. Energy is civilization, and the next several thousand years of civilization will be driven by Magma Power™.

For media inquiries, please contact:

Richard McDonald
Chief Strategy Officer
rmcdonald@magmapower.com

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SOURCE Magma Power

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ZKH Group Limited to Announce First Quarter 2026 Financial Results on Thursday, May 21, 2026

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SHANGHAI, May 7, 2026 /PRNewswire/ — ZKH Group Limited (“ZKH” or the “Company”) (NYSE: ZKH), a leading maintenance, repair and operations (“MRO”) procurement service platform in China, today announced that it will release its unaudited financial results for the first quarter 2026, on Thursday, May 21, 2026, before the open of the U.S. markets.

The Company’s management will hold an earnings conference call on Thursday, May 21, 2026 at 7:00 A.M. U.S. Eastern Time (7:00 P.M. Beijing/Hong Kong Time) to discuss the financial results. Listeners may access the call by dialing the following numbers:

United States (toll free):

+1-888-317-6003

International:

+1-412-317-6061

Mainland China (toll free):

400-120-6115

Hong Kong (toll free):

800-963-976

Hong Kong:

+852-5808-1995

Access Code:

2335796

A replay of the conference call will be accessible by phone one hour after the conclusion of the live call at the following numbers, until May 28, 2026:

United States:

+1-855-669-9658

International:

+1-412-317-0088

Replay Access Code:

6840038

A live and archived webcast of the conference call will also be available on the Company’s investor relations website at https://ir.zkh.com.

About ZKH Group Limited

ZKH Group Limited (NYSE: ZKH) is a leading MRO procurement service platform in China, underpinned by robust supply chain capabilities and dedicated to serving customers globally through a product-led, agentic AI-driven approach. Through its primary online platforms, the ZKH platform, the GBB platform and the Northsky platform, along with innovative technology and extensive industry expertise, the Company provides bespoke MRO procurement solutions to a diverse and loyal customer base. These solutions encompass hyper-personalized product curation from a comprehensive selection of quality products at competitive prices. Additionally, the Company ensures timely and reliable product delivery through professional fulfillment services. By focusing on reducing procurement costs and addressing management efficiency challenges, ZKH is transforming the opaque MRO procurement process and empowering all stakeholders across the value chain.

For more information, please visit: https://ir.zkh.com.

For investor and media inquiries, please contact:

ZKH Group Limited
IR Department
E-mail: IR@zkh.com

Christensen Advisory
Email: zkh@christensencomms.com

View original content:https://www.prnewswire.com/news-releases/zkh-group-limited-to-announce-first-quarter-2026-financial-results-on-thursday-may-21-2026-302765384.html

SOURCE ZKH Group Limited

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Goldman Sachs, J.P. Morgan, TD Securities, Morgan Stanley, and Bank of America Join LTX in Bid to Unlock Greater Liquidity in Corporate Bonds

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Broadridge-backed LTX to add Representatives from J.P. Morgan and TD Securities to its Board of Directors

NEW YORK, May 7, 2026 /PRNewswire/ — LTX, an AI-powered corporate bond e-trading venue backed by global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), today announced that Goldman Sachs, J.P. Morgan, TD Securities (through its subsidiary, TD Financial Products LLC), Morgan Stanley, and Bank of America have joined LTX as fully integrated liquidity providers. This major milestone underscores the participants’ commitment to serving buy-side clients by delivering increased choice and improving liquidity in fixed income markets. J.P. Morgan and TD Securities will each appoint a representative to LTX’s Board of Directors.

The AI-powered LTX corporate bond e-trading platform offers investors access to a suite of innovative trading tools including the award-winning BondGPTSM solution. These leading dealers will provide investment grade and high yield bond liquidity on the platform, joining 40+ liquidity providers and 100+ buy-side investors already on LTX.

Patrick Whelan, Global Head of FICC Digital Markets at JP Morgan, said, “In a competitive market, we’re committed to supporting new entrants and fostering greater competition in the US credit multi-dealer platform landscape. Our collaboration with LTX leverages innovative technology to broaden investor access, enhance liquidity, and streamline execution—empowering clients with more choice and driving industry advancement.”

“We’ve been impressed by LTX’s commitment to deliver innovative execution and artificial intelligence solutions to both sell-side and buy-side participants,” said Marty Mannion, Co-Head of TD Financial Products.  “We are excited to enter into this strategic partnership and accelerate these efforts to drive greater efficiencies in the corporate bond market.”

“We are excited to welcome these five leading dealers as fully integrated liquidity providers and look forward to working with them to drive increased liquidity and execution in the fixed income marketplace,” said Chris Perry, President of Broadridge. “Broadridge’s commitment to helping our clients innovate and grow through cost effective technology solutions is further reinforced by the inclusion of these premier institutions. I’m also excited to welcome J.P. Morgan and TD Bank to the Board of LTX.”

“We’re thrilled to be working with Goldman Sachs, J.P. Morgan, TD Securities, Morgan Stanley, and Bank of America as liquidity providers on LTX,” said Jim Kwiatkowski, CEO of LTX. “The combination of LTX’s innovative trading tools and AI-powered workflows with the deep liquidity and market expertise of these leading institutions positions us to help transform corporate bond trading. Together, we are unlocking liquidity, optimizing efficiency, and helping drive down trading costs for the market. It’s an exciting time for LTX, for our growing list of buyside clients, and for the future of corporate bond trading.”

Backed by Broadridge, LTX was created to address corporate bond market challenges that have slowed the growth in adoption of electronic trading compared to other markets by offering certain benefits. These include facilitating essential dealer-client relationships, lower trading and data costs, and better e-trading options for large sized trades. Partnering with some of the leading market participants, LTX is uniquely positioned to address these industry pain points by using patented AI and execution protocols to deliver improved liquidity at a lower cost, while facilitating relationships between dealers and buy-side clients through direct, fully disclosed trading. The addition of these liquidity providers underscores LTX’s position as a dynamic marketplace for buy- and sell-side corporate bond market participants.

LTX’s latest  innovation, BondGPT Intelligence, brings GenAI-powered insights directly into investing and trading workflows, anticipating traders’ needs and helping them identify opportunities and execute trades more efficiently. Using patented technology for the methods and systems behind BondGPT including the large language model (LLM) orchestration of machine learning agents, these milestones build on LTX’s legacy of harnessing innovation to further electronify the corporate bond market and reinforce Broadridge’s commitment to advancing intelligent trading solutions.

About LTX
LTX is an electronic trading platform that enables corporate bond market participants to trade smarter, combining powerful, patented artificial intelligence with innovative e-trading protocols to improve liquidity, efficiency, and execution. The Liquidity Cloud is LTX’s secure network of actionable disclosed sell-side axes and anonymous buy-side indications of interest (IOIs). LTX leverages Broadridge Business Process Outsourcing, LLC as its broker dealer.

For more information about LTX, please visit www.ltxtrading.com.

About Broadridge
Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com 

Broadridge Contacts:

Investors:
broadridgeir@broadridge.com           
Media:
Gregg.Rosenberg@broadridge.com 

 

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SOURCE Broadridge Financial Solutions, Inc.

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Electric Era Teams with WEX to Drive Customers and Revenue to Retail-Based Charging Locations

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SEATTLE, May 7, 2026 /PRNewswire/ — Electric Era, America’s leading retail-first EV charging company, today announced the addition of WEX® fleet payment processing services to their retail-based EV fast charging systems across the U.S.

Adding WEX fleet cards as a payment option underscores Electric Era’s unique strategy to design DC fast charging systems that function as marketing platforms for retailers to draw-in customers to grow sales revenues. With WEX, Electric Era’s chargers are available to WEX Fleet EV drivers to use at prominent fuel retailers in the Skycharger Network, Plaid Pantry and Space Age locations, and will be rolling out across Electric Era stations at Love’s Travel Stops, Giant Eagle and more soon.

“Our vision is to make EV charging as ubiquitous as traditional petroleum fueling with equally dependable charging stations located in safe, accessible locations to drive traffic and revenues to retail and food establishments,” said Quincy Lee, Electric Era CEO and founder. “By adding WEX, we’re creating new opportunities to drive even more store traffic to our retail customers, while simplifying payment processing for EV drivers and fleet operators.”

With the addition of WEX, commercial EV drivers will be able to use their WEX EV RFID or WEX DriverDash® mobile app to charge at Electric Era EV charging sites, and utilize WEX’s proprietary payment network to process payments, while simultaneously capturing charging data, driver ID, locations and vehicle mileage. This allows fleet managers to simplify billing, controls and expense tracking for both their electric-powered and internal combustion engine (ICE) fleet vehicles simultaneously.

“We’re focused on making mixed-energy fleet management seamless for fleet operators, and this is an important step toward making that happen,” said Sarah Booth, senior director, WEX Connected Fleet. “This collaboration with Electric Era adds reliable, retail adjacent EV fast charging to our growing network and will help our customers efficiently manage both electric and traditional fueled vehicles within a single account.”

Simple and easy to use, Electric Era’s EV chargers are available to all EV drivers and do not require special apps or accounts to use them. Simply tap a valid credit, debit or – and now a WEX RFID card – to pay for charging. EV fleet drivers can also pay via the WEX DriverDash mobile app.

A Retail-First EV Charging Platform
Founded by a SpaceX engineer, Electric Era reimagines high-power EV charging systems from the ground up to break down the barriers to rapid deployment of highly reliable DC fast charging systems. To make level-3 DC fast charging a profitable, market-driven solution, Electric Era designed their chargers specific for retail businesses to leverage retail adjacency and utilize the charging kiosks as an extension of company brand and retail space.

Electric Era’s patented battery-backed power architecture and energy management system enables their chargers to be installed as fast as 60-days, while delivering 400 kW max charge output with 99.8% per-port reliability – the new industry standard.

To help convenience stores and fuel retailers leverage the unique revenue-driving opportunities of DC fast charging systems, Electric Era provides complete start-to-finish, turn-key installations of their retailer-branded chargers – including successfully coordinating grant funding that reduces upfront CapEx costs to de-risk deployments and generate faster ROI.

About Electric Era
Electric Era is the only full-service EV charging solutions provider focused on the rapid deployment of highly reliable Level-3 DCFC systems at retail locations to grow and extend their retail space. Electric Era’s patented battery-backed charging architecture and bespoke, retail-first charging solutions deliver industry-leading power and reliability in a package that dramatically reduces installation time and energy costs.

For more information and the latest Electric Era updates, go to electricera.tech or follow us on
X: @ElectricEraTech LinkedIn: Electric-Era Facbook: ElectricEraTechnologies and YouTube: electricera.tech

SIDEBAR

HED: Electric Era + WEX® Opening Doors to Fleet Productivity and Retail Opportunities

As transportation-centric businesses accelerate EV adoption to reduce carbon emissions and lower operating costs, the Electric Era + WEX alliance enables fleet operators to:

Simplify company/driver-specific dashboards to simultaneously track both petro-fuel and electric charging platformsTrack EV specific expenses as a line item in familiar report formats – with similar levels of oversight and control as petroleum refuelingAllow retailers to gain access to WEX’s customer base to help attract new customers and increase store traffic for additional retail revenuesOpens the door to future QSR/fuel retailer loyalty program offerings via Electric Era’s EV charging systemsFurther strengthens Electric Era’s retail-first EV charging systems for retail and QSR/refueling locations and leader in public/private funded installations

View original content to download multimedia:https://www.prnewswire.com/news-releases/electric-era-teams-with-wex-to-drive-customers-and-revenue-to-retail-based-charging-locations-302764939.html

SOURCE Electric Era

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