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Hanwha and Baker Hughes Enter into Joint Development Agreement for Ammonia Gas Turbines

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Hanwha Power Systems and Hanwha Ocean cooperate with global energy technology company Baker Hughes.Leading the decarbonization of the hard-to-abate marine transportation sector through fuel-flexible combustion technology.

SEOUL, South Korea, Feb. 3, 2025 /PRNewswire/ — With the goal of completely carbon-free operation of ships, Hanwha Power Systems and Hanwha Ocean (KRX: 042660) signed a Joint Development and Collaboration Agreement with Baker Hughes (NASDAQ: BKR), a global energy technology company, to design and produce low carbon ammonia gas turbines during the Baker Hughes Annual Meeting 2025 held in Florence, Italy on February 2-4.

Hanwha Group declared its vision for the world’s first fossil fuel-free ship at the Davos Forum held in Switzerland in January last year. Hanwha Group plans to complete the development of liquefied natural gas carriers and container ships using the ammonia gas turbine propulsion system by 2028.

The ammonia gas turbine to be developed through this collaboration will be based upon the proven, small-size world class turbine technology of Baker Hughes, and a newly-developed ammonia combustion system created by PSM, a US-based Hanwha subsidiary. The gas turbine will be capable of 100% ammonia combustion, and dual fuel operation with a natural gas and ammonia blend. It is expected to be a game-changing technology for large ship owners, enabling a completely carbon-free mode of propulsion. In September 2023, Hanwha Power Systems and Hanwha Ocean obtained approval in principle (AIP) from the American Bureau of Shipping (ABS) to apply ammonia gas turbines to LNG carriers.

PSM successfully completed an initial high-pressure ammonia combustion test campaign and Baker Hughes completed its initial turbine feasibility studies in 2024. In addition, Hanwha Power Systems signed a memorandum of understanding (MOU) at Gastech 2024 in Houston, U.S., in September last year with a large liquefied natural gas carrier shipping company in Europe to convert its propulsion system to an ammonia gas turbine based system.

Through this joint development agreement, Hanwha plans to expand technological cooperation with the goal of developing the world’s first completely carbon-free ship and provide innovative solutions that lead the era of fossil fuel elimination.

Executive Director Kim Hyeong-seok, head of Hanwha Power Systems’ Marine Solutions Business Department, said, “The paradigm of switching to lower carbon fuel for ships is the calling of the times, and Hanwha Power Systems will continue to lead the development of innovative technologies for the entire life cycle of eco-friendly ships.”

“This collaborative development of a low-carbon ammonia gas turbine will be a significant turning point in the global shipbuilding and shipping industry, accelerating the transition to eco-friendly fuel propulsion for ships,” said Son Young-chang, vice president and head of Hanwha Ocean’s Product Strategy Technology Institute.

Baker Hughes is a global energy technology company operating in more than 120 countries around the world, with a unique strength in small and medium-sized gas turbine technology. The synergy between the two companies is highly anticipated.

About Hanwha Power Systems

Hanwha Power Systems is a global leader in eco-friendly energy equipment and provides the highest quality products and services by possessing the original technology for the design and production of high-speed rotating equipment. In addition to our 100% oil-free compressor made with our own technology, we have recently been developing solutions for various energy equipment such as sCO2 and hydrogen turbines. In particular, we aim to lead a paradigm shift in the shipping sector by developing technologies to decarbonize the maritime industry.

About Hanwha Ocean

Hanwha Ocean is a leading global company with extensive expertise and experience in the shipbuilding and offshore industry. Boasting the world’s most competitive LNG carriers built with eco-friendly and highly efficient technology, the company has continuously pioneered new businesses since 1973, producing a vast range of vessels, including commercial ships, drill ships, and warships. Hanwha Ocean will be at the forefront of pioneering advanced marine solutions for decarbonization and further expand Hanwha’s green energy ecosystem to create positive, sustainable change worldwide. More information about Hanwha Ocean is available at www.hanwhaocean.com.

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SOURCE Hanwha Power Systems

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A Shrinking Supply of New Physical Games May Be Making Old Ones Scarcer and More Valuable

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Physical game spending fell to $1.5 billion in calendar year 2025, even as exceptional vintage sealed copies have reached seven-figure auction prices, according to Circana and Heritage Auctions.

MORTON GROVE, Ill., Sept. 1, 2026 /PRNewswire/ — The market for physical video games is no longer moving in a single direction. The Old School Game Vault has released an analysis of public sales and auction data showing a widening distinction between the mainstream physical-game market and the much smaller market for rare vintage collectibles.

The analysis does not conclude that falling physical-game sales automatically make older games more valuable. Rarity, condition, completeness, edition, and collector demand can make individual items behave differently from the broader retail market.

U.S. physical video game sales reached $1.5 billion in 2025

U.S. spending on new physical video games totaled $1.5 billion in calendar year 2025, according to Circana Retail Tracking Service data shared by Mat Piscatella. This was the lowest annual level since Circana began tracking the category in 1995.

Circana data show that spending peaked at $11.6 billion in calendar year 2008, illustrating the scale of the long-term contraction. The measurement period matters, however. Circana’s separate rolling 12-month series peaked at approximately $11.5 billion for the 12 months ending May 2009, while spending for the 12 months ending May 2026 was approximately $1.6 billion. These are different measurement periods, not conflicting totals.

A title released decades ago may remain inexpensive if many copies survive, while another from the same era may attract more collector interest because complete or well-preserved copies are scarce.

The condition of the game also matters. A loose cartridge, a complete copy with its original box and manual, and a factory-sealed example are not interchangeable from a collector’s perspective.

Record auction prices show the difference between ordinary and exceptional games

Heritage Auctions reported that a sealed Wata 9.8 A++ copy of Super Mario 64 sold for $1.56 million in 2021, becoming the first video game sold at auction for more than $1 million.

The sale was exceptional rather than representative. Its sealed condition, grade, title significance, and scarcity placed it outside ordinary used-game transactions.

For sellers, the practical lesson is to identify each item before accepting a broad valuation. A collection can contain common mass-market titles alongside rarer games, consoles, accessories, and editions that warrant closer examination.

Methodology

The Old School Game Vault synthesized public U.S. physical video game sales data from Circana Retail Tracking Service, shared directly by Mat Piscatella, together with Heritage Auctions’ 2021 press releases and auction records. No proprietary survey or original research was conducted. Circana figures describe mainstream physical software spending, while Heritage results represent individual collectible-market transactions.

Frequently Asked Questions

These questions summarize what the analysis means for the broader physical market and individual sellers.

Is the physical video game market growing or shrinking?

The U.S. physical video game market has undergone a major long-term contraction. Calendar-year 2025 spending was $1.5 billion, while the separate 12 months ending May 2026 reached approximately $1.6 billion. Neither figure determines the value of an individual retro title.

Why do some old games sell for so much?

Exceptional prices can occur when scarcity, condition, completeness, historical importance, and collector demand converge. The $1.56 million Super Mario 64 sale represents the extreme high end of the market, not a typical resale value.

What should sellers compare before choosing a buyer?

Sellers can compare specialization, offer transparency, condition requirements, testing procedures, shipping arrangements, and payment options.

About The Old School Game Vault

The Old School Game Vault is a nationwide retro video game buyer and seller based in Morton Grove, Illinois, and has operated since 2008. The company purchases video games, consoles, and accessories from customers across the United States and pays sellers in cash rather than store credit. The Old School Game Vault maintains an A+ rating with the Better Business Bureau, and its online pricing database includes more than 22,000 games, consoles, and accessories.

Media Contact

Contact: Brandon Perton

Email: brandon@theoldschoolgamevault.com

Location: Morton Grove, Illinois

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Clean electricity supplied 40% of new energy demand in 2025. Faster deployment and sectoral breakthroughs can cut emissions permanently, says annual Energy Transition Monitor

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A progress paradox: Clean electricity is growing more than twice the speed of overall energy supply, but emissions are not yet falling as overall demand for both fossil and clean energy is simultaneously expanding – driven by data centres, higher cooling needs and heavy industry.A two-speed transition: ~60% of global emissions – primarily from power generation and road transport – are rapidly being addressed by clean electrification at little or no extra cost. Progress is slower in the remaining 40% of emissions – from aviation, shipping, heavy industry and agriculture – which require solutions that carry a green cost premium or are at early-stages of commercial scale.Four levers remain largely unaddressed: coal use, methane emissions, deforestation, and slow scale up of carbon removals.

LONDON, Sept. 2, 2026 /PRNewswire/ — Global clean energy investment hit a record $2.1 trillion in 2025. Solar, batteries and electric vehicles again outperformed every forecast. But rising energy demand means global greenhouse gas emissions are only plateauing, not falling. The world has already breached 1.5°C of global heating and remains on track for around 2.5°C, according to the Energy Transitions Commission’s (ETC) Energy Transition Monitor 2026, published today.

As wildfires and intense heatwaves cause widespread economic and human damage and energy security costs mount since the Hormuz closure, demand for clean alternatives to volatile fossil fuels has grown. The annual assessment from the ETC Secretariat — representing a global coalition of energy, industry and finance leaders – finds that renewables supplied 99% of the growth in global electricity generation in 2025, while coal-fired and oil-fired generation both contracted. Global renewable capacity has almost doubled since 2022 and is on track to double again by 2030 — around 900 GW short of the tripling pledged at COP28.

But clean power is chasing a moving target: because electricity remains only a fifth of total final energy use, this growth in clean electricity covered just 40% of the rise in global energy demand, with fossil fuels supplying the rest, as demand from buildings, heavy industry and long-distance transport kept rising.

Clean technologies must be deployed faster to meet this growing demand. The report also identifies four other key levers for global emissions reductions that remain largely unaddressed: coal use, methane emissions, deforestation, and scale up of carbon removals.

The report describes a two-speed transition. Around 60% of global emissions could be abated through clean electrification alone at little or no extra cost — primarily in power generation and road transport, where electrification is already accelerating.

But barriers remain. Grid capacity is a major bottleneck to this acceleration: around 375 GW of renewables and 455 GW of battery storage are stuck in European connection and permitting queues, roughly 2,300 GW await grid connection in the United States, and nearly 10% of China’s wind and solar outputs were curtailed due to grid constraints in the first half of 2026. Supporting low-cost renewables through long-term contracts can also accelerate electrification.

The remaining 40% of global emissions, from high-temperature industrial heat, aviation, shipping and parts of agriculture, requires solutions that carry a green cost premium or are at early-stages of commercial scale. Of roughly 1,000 clean industrial projects announced globally, fewer than 20% have reached a final investment decision. Carbon pricing is strengthening, making clean projects more financially viable, but firm offtake commitments are still a major gap.

“Clean energy is now outpacing fossil growth, but deployment speed alone won’t cut emissions. Without removing grid bottlenecks, securing buyer commitments for clean industrial products, and achieving cost breakthroughs in shipping and aviation, emissions will continue to plateau and not fall.” said Adair Turner, Co-Chair, ETC.

“Coal is not phasing down, methane emissions are not falling, forests are still being cut down, and carbon removal is nowhere near the scale required. We must act to address these. Only by doing this can we stop the rapid heating of the planet, and we are seeing the effects of this in real time.” said Jules Kortenhorst, Co-Chair, ETC.

“The Energy Transition Monitor makes clear that the challenge is no longer whether clean energy technologies can scale, but whether we can deploy them fast enough to meet growing demand and reduce emissions simultaneously. As electricity demand accelerates, we have all the resources available to design energy solutions that pair abundant clean power with efficiency, flexibility, and modernized grids. The report points out solutions to unlock permitting and connection barriers to access resources at the scale of the opportunity. By combining clean electrification with smarter energy use, we can strengthen energy security and accelerate emissions reductions while still supporting economic growth.” said Jon Creyts, CEO, RMI, a member of the Energy Transitions Commission.

The picture varies sharply by region:

China: Building clean electrification faster than anywhere on earth.Supplies 83% of the world’s renewable-energy equipment, 45% of clean industrial plant equipment.Installs more than half the world’s wind and solar. In 2025, 56% of new passenger vehicle sales were EVs, and 13 of 19 global clean heavy-industry investment decisions were made in China in first half of 2026.United States: Federal action stops the transition accelerating but doesn’t stop it entirely.Since January 2025, 21 GW of clean energy was cancelled. Fossil capacity additions surged 71% in 2025-2026. Yet renewable growth slowed by only 2%.Data centres present the sharpest contradiction: accounting for half of all new clean energy contracts, while simultaneously driving the largest increase in new fossil fuel power capacity.EU and UK: Fastest emissions reduction progress of the major economies, though momentum has recently slowed.Renewable installations are strong and around 1 in 5 new passenger cars purchased are EVs. The European Commission’s electrification action plan targets a step change in the pace of deployment.Around 375 GW of renewables and 455 GW of battery storage are stuck in permitting and grid-connection queues.India: The world’s cheapest renewables but installs 9 times slower than China.Fastest electricity demand growth for a major economy at 6.4% a year, but new clean capacity is being absorbed by rising demand rather than displacing coal.Asia (excluding China & India) & Australia: Renewables contributed 62% of new power capacity in 2024, but progress across the region is uneven.High fossil fuel prices caused by the Hormuz strait closure has pulled the need for energy security and clean energy forward in the region. Countries including South Korea and Indonesia accelerated their renewables targets.

About the Energy Transitions Commission (ETC)
The Energy Transitions Commission is a global coalition of leaders from across the energy landscape committed to achieving net-zero emissions by mid-century while supporting economic growth and development. This report was produced by the ETC Secretariat and should not be taken as members agreeing with every finding or recommendation. The ETC is hosted by SYSTEMIQ Ltd.

All data in this release is pulled from the Energy Transition Monitor 2026 which can be downloaded here: https://www.energy-transitions.org/publications/energy-transition-monitor-2026

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Charter to Participate in Citi Global TMT Conference

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STAMFORD, Conn., Sept. 1, 2026 /PRNewswire/ — Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, “Charter”) today announced that Jessica Fischer, Chief Financial Officer, will participate in the Citi Global TMT Conference in New York, New York on Thursday, September 10, 2026. Ms. Fischer’s remarks are scheduled to begin at 10:50 a.m. ET.

A live webcast of the event can be accessed on Charter’s investor relations website, ir.charter.com. Following the live broadcast, the webcast will be archived at ir.charter.com.

About Charter 
Charter Communications, Inc. (NASDAQ: CHTR) is the leading broadband and video company in the nation and the fastest growing mobile provider in its footprint, with services available to more than 70 million homes and small to large businesses across 45 states through its Spectrum brand. Founded in 1993, Charter has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, the Company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products.

More information can be found at corporate.charter.com.

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SOURCE Charter Communications, Inc.

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