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McDermott Completes Redemption and Exchange of Series A Preference Shares to Class A Ordinary Shares

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HOUSTON, Dec. 19, 2024 /PRNewswire/ — McDermott International, Ltd (“McDermott” or the “Company”) today announced that it completed the redemption and exchange of all of its outstanding Series A Preference Shares (“Series A Preference Shares”), par value $0.001 per share, into the Company’s Class A ordinary shares (“Class A Ordinary Shares”), $0.001 par value per share (the “Preference Share Transaction”). 

Pursuant to the Preference Share Transaction, the outstanding Series A Preference Shares were redeemed or exchanged for approximately 2.9 billion Class A Ordinary Shares. “This transaction goes a long way to simplifying our capital structure, providing us with flexibility as we execute our long-term strategy,” said Travis Brantley, McDermott Chief Financial Officer. “We’re pleased by this strong vote of confidence in McDermott by our shareholders.”

Michael McKelvy, McDermott President and Chief Executive Officer, added, “We thank our majority shareholders for their strong support for this transaction and related actions to strengthen the Company, such as maintaining the allocation of 7.5% of Class A Ordinary Shares to be administered by the Board of Directors for long-term incentive programs to ensure continued workforce stability and alignment with shareholder value.”

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott’s innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott’s locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Forward-Looking Statements

The information and statements included herein includes forward-looking statements, including statements regarding the benefits of the transaction discussed herein on the Company’s long-term strategy. These forward-looking statements may be, but are not necessarily, identified by terms and phrases such as “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” and similar expressions. Such statements reflect the current views and assumptions of the Company and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. These risks include, but are not limited to, risks relating to the volatility of the market price of the Class A Ordinary Shares and general market and economic conditions.

The Company undertakes no obligation to update or revise the forward-looking statements included herein, whether as a result of new information, future events, or otherwise. The Company’s capital structure, stock price and liquidity and actual results, performance, or achievements could differ materially from the results expressed in, or implied by, these forward-looking statements.

Contacts:

Global Media Relations
Reba Reid
Senior Director, Global Communications and Marketing
+1 281 588 5636                                       
RReid@McDermott.com

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SOURCE McDermott International, Ltd

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RoboParty Unveils RP1, a High-Performance Full-Stack Open-Source Humanoid Robot at IROS

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PITTSBURGH, Oct. 3, 2026 /PRNewswire/ — On September 28, 2026, RoboParty publicly unveiled RP1 (ROBOTO 01) at IROS 2026, marking the robot’s global debut. Building on RPO (ROBOTO ORIGIN), its fully open-source humanoid project launched in January 2026 with more than 2,500 GitHub stars, RoboParty positions RP1 as the world’s first high-performance full-stack open-source bipedal humanoid robot — designed for researchers, educators, robotics developers and embodied AI teams.

At the company’s IROS booth, the “Kick Me” interactive demonstration let visitors directly push and kick the robot. RP1 rapidly adjusted its posture and recovered its balance under these external disturbances, testing its dynamic stability, body performance and system-level robustness. These capabilities were supported by PartyOS, RoboParty’s open R&D foundation for humanoid robotics, which integrates UFO — a training framework that discovers humanoid motor skills through unsupervised reinforcement learning, covering skill transitions, disturbance recovery and fall recovery without relying on predefined motion trajectories.

RoboParty is integrating the robot body, actuator modules, low-level control and embodied AI algorithms into one system for continuous joint validation. RP1 delivers peak joint torque of up to 160 N•m, built on in-house-developed Romomo actuator modules and a real-time motion-control system.

For RoboParty, “full-stack open source” means more than releasing mechanical files. The company plans to progressively open its motion-control systems, simulation environments, SDKs, training tools and the PartyOS development foundation, so developers can participate from hardware and low-level control to model training and deployment.

“Humanoid robots should not be closed systems that only a small number of teams can build while everyone else can do little more than watch,” said Yi Huang, founder of RoboParty. “We want RP1 to become an open foundation that developers can access, modify, train and continuously improve.”

RP1 builds on RPO’s validated open-source robot body and workflow, Romomo actuator modules and the dexterous RP Hand, with PartyOS evolving across humanoid locomotion, perceptual interaction, whole-body manipulation and autonomous intelligent humanoids.

Core team members studied at Tsinghua University’s Yao Class, Peking University’s Zhi Class, Harbin Institute of Technology, Stanford University, Carnegie Mellon University, Zhejiang University and other leading institutions. RoboParty has built a global community of more than 5,000 developers, and will announce further details of RP1’s open-source roadmap in October 2026, with broader software and hardware releases and a mass-production program to follow later in Q4.

Media Contact: marketing@roboparty.com 

GitHub: https://github.com/Roboparty/roboto_origin

Website: https://roboparty.com/

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SOURCE RoboParty

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‘Global Civilization Dialogues’ Series Arrives in Xi’an with Orchid Awards Guests

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XI’AN, China, Sept. 30, 2026 /PRNewswire/ — An international exchange event in the “Global Civilization Dialogues: Rendezvous with the Orchid” series recently took place in Xi’an. The initiative was held under the guidance of China International Communications Group (CICG) and the Publicity Department of the Shaanxi Provincial Party Committee, and organized by the Orchid Awards Secretariat, the China Center for International Communication Development (CCICD), and the Publicity Department of the Xi’an Municipal Party Committee.

The Orchid Awards is an international cultural prize founded by CICG to recognize foreign individuals and institutions dedicated to strengthening cultural ties between China and the rest of the world. Over 20 guests—among them final-round judges and participants in the Third Orchid Awards, along with social media creators from Cambodia, Germany, Brazil, and the UK—joined a four-day immersive tour of the ancient capital.

The delegation’s first stop was the Xi’an Museum, whose “Ancient Capital Xi’an” exhibit presents a rich trove of relics spanning the Zhou, Qin, Han, and Tang dynasties through the Ming and Qing—charting the history of a city that served as a capital under 13 dynasties. Guests lingered over the displays, absorbing the depth of Chinese civilization.

They then headed to the Mausoleum of the First Qin Emperor and its Terracotta Warriors. Each figure bears a distinct face, and the craftsmanship is remarkable—a vivid portrayal of the Qin army and a valuable source of physical evidence for studying the era. The underground formation left a lasting impression on Chinese and international visitors alike.

After revisiting ancient history, the delegation proceeded to local tech firms to observe China’s manufacturing innovation up close. At LONGi, they learned about the company’s latest strides in solar and energy storage, including industrial applications of AI and solar-powered green hydrogen. They next toured the exhibition hall at BYD’s Xi’an R&D center, learning about the company’s history, global footprint, and core electric vehicle technologies—and seeing firsthand the advances in China’s electric vehicle industry.

During their stay, guests are also scheduled to participate in the “Orchid • Encounter the Millennium-Old Ancient Capital” International Cultural Salon and visit industrial and cultural sites including the Aiju Grain and Oil Industrial Group and the Chang’an Twelve Hours cultural district. These visits offer further opportunities to explore how Xi’an is preserving its heritage, supporting industrial innovation, and opening up to the world—and to use cultural exchange as a bridge for telling China’s story and Xi’an’s story, deepening mutual understanding between China and other nations.

Since the Orchid Awards was inaugurated, the series has traveled to Beijing, Guangzhou, Dunhuang, Chongqing, Chengdu, and Harbin. Through site visits and face-to-face discussions, the Xi’an stop gives international guests an immersive taste of China’s millennia-old cultural heritage—and a firsthand look at the country’s modern vitality. It provides a forum for deepening cultural exchange between China and the world.

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SOURCE ORCHID AWARDS SECRETARIAT

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Handmade businesses have a new marketplace – and they own it

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The general public can now both sell and shop unique creations on a better handmade marketplace that’s fully controlled and operated in-house, by artisan hands.

GLADSTONE, Ore., Oct. 3, 2026 /PRNewswire-PRWeb/ — Exactly three years after launching it’s beta test, this week Artisans Cooperative opened it’s online marketplace platform for handmade goods run by people and for people. The general public can now both sell and shop unique creations on a better handmade marketplace that’s fully controlled and operated in-house, by artisan hands.

Artisans Cooperative marketplace is a fair, artisan-owned platform that values craftsmanship, transparency, and ethical trade.The massive influx of mass-produced, drop-shipped goods on major platforms like Etsy and Amazon has made it nearly impossible for authentic artisans to survive on mainstream marketplaces. Creative business owners want to be part of something genuine that stands for honesty instead of profits, and cares to market their products directly to customers who value handmade goods and the artisans who create them. Meanwhile, conscious shoppers are looking for shame free shopping where they can make their dollar count in supporting creative livelihoods.

“Artists and crafters NEED a space that isn’t just another venture capital-funded business…So this is exactly the right combination of ideals and beliefs that I’ve been looking for”. – Artisans Member

“It has been harder and harder to find authentic and handmade items for years. I hate having to search through 15 pages of dropship shops before finding an actual artist. Artisans Cooperative makes it easy!” – Artisans Member, Lizzy

Mass-produced, drop-shipped goods and increasingly volatile rules and fees make it nearly impossible for authentic artisans to survive, even with the support of conscious shoppers. None of that is welcome at Artisans. Skill and judgment must be so critical to the creation process of listed products that experienced industry peers can verify the artisan could have potentially ruined listed products in the process, but they didn’t. Simple, transparent commissions from free listings keep authentically handmade goods available at reasonable prices for shame-free shopping by customers who value the story and artistry behind the piece.

“I don’t want to line the pockets of large corporations who only look out for themselves. Instead, I want to support the people who are making things and have a small portion go to … connecting the buyers and sellers”. – Artisans Member, Adam

“I love that my handmade work has a place among … other authentically handmade artisan products. I really appreciate that Artisans Cooperative puts it’s artisans first.” – Artisans Member, Erin

About Artisans Cooperative Artisans Cooperative built a better handmade marketplace for the online creative community following the collective loss of trust in Etsy management after the 2022 #EtsyStrike.

Media Contact

mastress, Artisans Cooperative, 1 503-789-2805, people@artisans.coop, artisans.coop

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SOURCE Artisans Cooperative

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