CHANGZHOU, China, Oct. 22, 2026 /PRNewswire/ — “If it weren’t for your timely assistance at the critical moment, this batch of overseas orders could never have been delivered on schedule!” Recently, the Chairman of Jiangsu Huapeng Transformer Co., Ltd. made a special trip to State Grid Changzhou Power Supply Company to present flowers and a letter of thanks, expressing gratitude to the power supply company for its efficient emergency supply assurance and its support in helping the enterprise secure overseas orders.

On the eve of the National Day holiday, the power grid in Kunlun Subdistrict, Liyang City, was undergoing capacity expansion works, with the 220 kV Yangzhuang Substation adding a new 35 kV bay. Power outage operations on the 35 kV Lipeng Line were scheduled for September 28 and 29, which would affect the new energy plant area of Jiangsu Huapeng Transformer. At that time, the enterprise was concentrating on factory performance testing for a batch of key overseas products, with stringent delivery standards and a tight window. Any interruption in testing would delay order fulfillment and damage the enterprise’s overseas reputation.

After receiving the enterprise’s request for assistance, State Grid Changzhou Power Supply Company responded immediately, prioritizing the enterprise’s urgent needs. Staff made two on-site surveys of the plant area, investigated electricity loads and equipment layout, repeatedly demonstrated and optimized the plan, and dispatched a 1,200 kW emergency power generation vehicle to the plant area for medium-voltage power supply assurance.

At 6:00 a.m. on September 28, the power assurance personnel arrived on site ahead of schedule and completed preparations including connecting the generator vehicle, debugging equipment, and safety verification. During the power assurance period, staff stood on duty around the clock, monitoring equipment operation and load changes in real time, promptly handling various risks, and ensuring continuous and stable production electricity. After two days and one night of continuous dedication, the power assurance task was successfully completed on the evening of September 29.

The stable and reliable power supply enabled the enterprise to complete factory testing of all products on schedule, with all indicators meeting standards, successfully fulfilling overseas orders and winning recognition from overseas customers. The letter of thanks stated that this emergency supply assurance demonstrated the power supply company’s strong sense of social responsibility, efficient emergency response capability, and service philosophy of striving for excellence.

In recent years, State Grid Changzhou Power Supply Company has continued to optimize the power business environment, precisely matching the electricity needs of key manufacturing enterprises, and through measures such as customized supply assurance plans and emergency power support, has made every effort to ensure the stability of industrial and supply chains, helping foreign trade enterprises sail steadily into overseas markets with reliable power.

View original content:https://www.prnewswire.com/apac/news-releases/state-grid-changzhou-power-supply-company-provides-proactive-services-to-ensure-on-schedule-fulfillment-of-foreign-trade-orders-302916269.html

SOURCE State Grid Changzhou Power Supply Company

DENVER, Oct. 21, 2026 /PRNewswire/ — Greenland Energy Company (NASDAQ: GLND) (“the Company” or “Greenland Energy”), an oil exploration company focused on East Greenland’s Jameson Land Basin, today announced Roderick McIllree’s resignation from the Company’s Board of Directors (the “Board”). In connection with his resignation, Mr. McIllree also ceased serving in all other roles, positions and assignments he held with the Company. Mr. McIllree’s resignation was not the result of any disagreement with the Company on any matters relating to the Company’s operations, policies or practices.

About Greenland Energy Company

Greenland Energy Company is an exploration stage oil and gas company focused on responsibly exploring and seeking to develop Greenland’s hydrocarbon resources, with an emphasis on the Jameson Land Basin in East Greenland. The Company’s primary mission is to unlock the frontier hydrocarbon potential of the Jameson Land Basin, an approximately 2 million acre onshore licensed area, through the application of modern exploration technologies. The Company is advancing preparations for future exploration activity in the region. For more information, please visit www.GreenlandEnergyCo.com 

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical fact included in this press release, are forward-looking statements. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements are based on current expectations, estimates, assumptions and projections and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to those described under “Risk Factors” in our Registration Statement on Form S-1, as amended, and in our other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws. You should not place undue reliance on any forward-looking statements.

Contact:
contact@greenlandenergyco.com 

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SOURCE Greenland Energy Company

First-ever Singapore Automotive Loan Receivables Asset-Backed Securitisation (“ABS”) Rare COE-backed new Automotive Asset Class largely underpinned by the Singapore government via one-of-a-kind Certificate of Entitlement framework Novel ABS via Singapore’s MAS-approved bankruptcy-remote special purpose vehicle

SINGAPORE, Oct. 22, 2026 /PRNewswire/ — Carro, Asia Pacific’s leading AI-enabled online automotive marketplace, has established a SGD450 million Asset-Backed Securitisation (ABS) backed by Singapore automotive loan receivables. The ABS warehouse facility serves to optimise funding and represents a key milestone in diversifying Carro’s long-term capital sources.

The ABS warehouse facility is structured as a bankruptcy-remote special purpose vehicle (“SPV”) to purchase and securitise Singapore automotive loan receivables originated by Genie Financial Services, a wholly-owned subsidiary of Carro.

“Being a pioneer of the first-ever Singapore automotive loan receivables ABS is a testament to the strength of our AI-enabled platform, data infrastructure, and underwriting capabilities. By turning automotive loan receivables into an institutional-grade asset class, we are setting a new standard for automotive financing in Southeast Asia. This landmark facility provides us with the financial flexibility and capital depth required to accelerate our growth strategically across the region while delivering sustainable value to our stakeholders.” says Aaron Tan, Co-Founder and Chief Executive Officer at Carro.

To maximise bank liquidity while preserving tax efficiency, a multi-funder structure was designed to allow lenders to participate via either capital markets notes or direct bank loans on a pari-passu basis within the same MAS-approved SPV.

The transaction also establishes a brand-new asset class for Hire Purchase securitisation in Singapore to facilitate capital diversification. Comprising vehicle-secured Hire Purchase receivables, the structure leverages Singapore’s unique Certificate of Entitlement (“COE”) system, which provides an intrinsic floor value and regulatory certainty, offering strong underlying collateral stability and risk mitigation.

Designed to deliver institutional-grade safeguards and enhance transparency in Singapore’s ABS market, the transaction is underpinned by a robust, multi-layered framework of fraud risk mitigants and asset protection measures. Key features include independent preparations by third-party calculation agents and automated data integrity controls supported by a planned active API integration, enabling real-time, auditable performance reporting and transaction trigger monitoring.

“As Carro prepares for its next phase of growth, we are keen to unlock long-term, cost-effective, diversified funding sources, including bank loans, block discounting, and securitisations,” says Ernest Chew, Chief Financial Officer at Carro. “This is an innovative structure which features a unique bankruptcy-remote hybrid loan and notes format that meets Singapore MAS-approved SPV regime, allowing global banks to participate via either notes or loans on a pari-passu basis, broadening our access to a wider pool of funding partners. Establishing Singapore’s inaugural automotive loan receivables ABS broadens our capital funding universe, strengthens our balance sheet, and creates a highly scalable template for our future global expansion. We’re thankful for the support by three of the largest global banks who have structured and held onto the loans and notes.”

Carro is a leading online car marketplace in Asia Pacific (excluding China and India). The company transacted over 120,000 units of new and used vehicles in FY2026 and is active across 8 markets. It is a leading auto fintech, auto digital insurance broker and aftersales service provider in the region.

Mizuho (arranger), HSBC and J.P. Morgan acted as loan providers and bond subscribers.

About Carro
Founded in 2015, Carro is a leading online car marketplace in the Asia Pacific (excluding China and India). By offering a trustworthy and transparent experience, Carro transforms the traditional way of buying and selling cars through proprietary pricing algorithms, AI-enabled capabilities, and innovative technological solutions. In 2025, Carro expanded its product line to include Brand New cars in Singapore and Malaysia, offering customers even more options.

Headquartered in Singapore, the unicorn startup has raised over S$700 million from Softbank Vision Fund as well as several sovereign funds and government-linked investors. Together with its subsidiaries and business lines, Carro is supported by more than 4,500 employees across Asia Pacific:

Carro, Asia Pacific’s largest online used marketplace with a strong key presence in Singapore, Malaysia, Indonesia, Thailand, Japan, Taiwan region, Hong Kong SAR and AustraliaCarro Care, Carro’s in-house refurbishment and after-sales servicing capabilitiesGenie Financial Services, a next-generation fintech automotive financing provider in Singapore, Malaysia, Indonesia and ThailandCarro Auction, a leading automotive auction platform in ThailandMPM Rent, leading mobility solutions company in Indonesia specialising in leasing / fleet financing transportation servicesInnorithm, a next-generation fleet management solutions company leveraging state-of-the art IoT and machine learningKaidee, Thailand’s largest online shopping and classifieds platformDriven Communications, leading Malaysian integrated digital content & marketing services agency including notable sites like paultan.org

For more information, please visit: www.carro.co. 

View original content:https://www.prnewswire.com/apac/news-releases/carro-establishes-inaugural-sgd450-million-asset-backed-securitisation-warehouse-facility-302915366.html

SOURCE Carro