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Second Half Recovery Spurs Robust Full Year 2024 Performance for Golden Agri-Resources

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EBITDA grew by 23% in the second half of the year, bringing full-year EBITDA to US$1.1 billion at a margin of 10%.Proposed 31% increase in final dividend to 0.804 Singapore cents per share, subject to shareholder approval.

SINGAPORE, Feb. 27, 2025 /PRNewswire/ — Golden Agri-Resources Ltd (“GAR” or the “Company”) has announced a robust financial performance for 2024, with improved plantation output and higher crude palm oil (CPO) prices driving growth in the second half of the year. 

On the results, Mr. Franky O. Widjaja, GAR Chairman and Chief Executive Officer commented: “The Board is proud to report strong growth across key financial metrics. This year, we saw an expanded contribution from our upstream business, adding to the robust performance of our downstream operations. This is a testament to the strategic advantages of our vertically integrated operations, which continue to provide stability and flexibility to navigate industry dynamics. Our ongoing investments in innovation, advanced technology, operational excellence, and sustainability practices will strengthen our competitive edge, ensuring we drive future growth.”

GAR achieved a record sales volume of 11.9 million tonnes in 2024, supporting a 12% growth in revenue to US$10.9 billion. Stronger sales, together with higher CPO prices, combined to offset the impact of lower plantation output. EBITDA for the year increased by 12% to US$1.1 billion, preserving a healthy margin of 10%. Underlying profit grew by 27% year-on-year to US$416 million, while net profit increased to US$365 million.

On the outlook for the industry, Mr. Widjaja added: “Strong palm oil prices have persisted at the start of 2025, maintaining a premium over soybean oil. This trend will hold during the current low production season, while festive periods across Asia will drive consumption demand. Palm oil output is expected to recover this year, especially in Indonesia, as we emerge from the long-tail impact of El Niño weather conditions. This supply growth will be readily absorbed by sustained growth in demand supported by Indonesia’s higher B40 biodiesel blending mandate. We remain vigilant to the impact of geopolitical and global economic conditions on palm oil prices.”

GAR’s Board has proposed a final dividend of 0.804 Singapore cents per share, totalling approximately US$75 million, in line with its balanced approach to rewarding shareholders while maintaining a strong balance sheet to insure against anticipated global challenges. This represents 18% of underlying profit and a 31% increase from the previous year. The proposed final dividend will be distributed on 20 May 2025, subject to approval by shareholders at GAR’s 2025 Annual Meeting.

SEGMENTAL PERFORMANCE

Plantations and Palm Oil Mills (Upstream)

GAR’s planted area, including plasma, was 536,000 hectares at the end of 2024, of which 90% was mature. The Company accelerated its replanting efforts in 2024, rejuvenating 21,500 hectares of old estates with higher-yielding, next-generation planting materials. This initiative is part of GAR’s yield intensification programme that aims to sustain long-term production growth from existing plantations.

Fruit yield in the second half of the year grew by 29% compared to the previous period, reaching 10.4 tonnes per hectare. Despite this turnaround, GAR’s full year yield of 18.7 tonnes per hectare remained below 2023 levels due to land preparation for replanting and the deferred impact of El Niño weather conditions. Total plantation output dropped by 7% year-on-year to 2.7 million tonnes in 2024.

Upstream EBITDA grew by 19% to US$567 million, resulting in a strong margin of 26.1%. This was primarily supported by higher CPO prices, which grew from US$901 per tonne (average price FOB Belawan) in 2023 to US$1,005 per tonne in 2024.

Palm, Laurics and Others (Downstream)

GAR’s downstream segment consists of processing and merchandising palm and oilseed-based products including bulk and branded products, oleochemicals, sugar and other vegetable oils.  

The Company’s downstream business remained resilient in 2024 despite an unfavourable market environment. Sales volume expanded by 6% to 11.5 million tonnes, generating revenue of US$10.8 billion. EBITDA for this segment increased by 5% to US$534 million with a lower margin of 4.9% as a result of reduced refining margins. GAR continues to strengthen its competitive edge by pursuing higher value-added products to drive long-term growth.

ONGOING SUSTAINABILITY INITIATIVES

GAR is committed to achieving Net Zero Emissions by 2050 and has established near-term targets to reduce Scope 1 and 3 FLAG (Forest, Land, and Agriculture) emissions by 30% and Scope 1 and 2 non-FLAG emissions by 42% by 2030. This decarbonisation strategy will address three core areas: land use change and carbon removals; renewables and energy efficiency; and supplier engagement.

As part of ongoing supply chain transformation efforts, GAR continues to work alongside its customers to prepare for compliance with the EU Deforestation Regulation (EUDR). The Company has launched the SmartTrace system, integrating its traceability data with the EU TRACES platform to support operators’ due diligence statements.

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SOURCE Golden Agri-Resources

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Three Generations, All First-Time Passes: PowerTitan 3.0 Validates System-Level Safety Under Extreme Large-Scale Fire Test

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HEFEI, China, Oct. 21, 2026 /PRNewswire/ — Sungrow, a globally leading PV inverter and energy storage system provider, announced that its latest PowerTitan 3.0 battery energy storage system (BESS) has successfully completed a large-scale fire test conducted in accordance with the latest applicable requirements of UL 9540A: 2026 and CSA/ANSI C800-2025, making it the industry’s first stacked-cell BESS with an AC-block design to successfully complete such a test. From PowerTitan 1.0 to 3.0, all three generations passed the large-scale fire test on the first attempt.

Conducted by UL Solutions, witnessed by Fire Risk Alliance (FRA), and observed by Jensen Hughes (JH), the test evaluated the system’s ability to contain a severe thermal runaway event and prevent it from propagating to adjacent BESS containers and the Medium-Voltage Substation.

Tested Under Demanding Real-World Installation Conditions

The test setup replicated the block-level layout of a real-world utility-scale BESS installation, including 28.56 MWh of fully liquid-cooled PowerTitan 3.0 BESS and a 7.4 MW Medium-Voltage Substation (MVS). PowerTitan 3.0 features high-energy-density stacked cells and an integrated AC block architecture, combining the battery system and DC/AC Power Converter Unit within a single 20-foot container.

To further challenge the system’s safety design, the BESS was at 100% state of charge. The initiating container and the adjacent container were installed back-to-back closely. The MVS was also included in the test configuration. All active fire suppression systems and thermal management system were disabled, and rooftop pressure-relief panels of the initiating container were also fully opened to maximize ventilation and oxygen availability. The test focused on the system’s inherent ability to contain thermal runaway.

All smoke and fire effluent generated during the event were collected and routed through a dedicated purification system. The collected gases were fully treated, with no untreated smoke released directly into the environment.

Thermal Runaway Did Not Propagate

The test successfully demonstrated that thermal runaway did not propagate from the initiating BESS container to any adjacent containers or the MVS.

The test continued for 7.5 hours under uninterrupted monitoring. The peak internal temperature in the initiating container, identified as Container A, reached 1259.8°C, while the highest cell temperature in the adjacent containers well remained below the threshold for thermal runaway under UL 9540A: 2026.

Despite the intensity and duration of the fire, Container A remained structurally intact. Adjacent Containers B, C, D and E also remained structurally intact, with no deformation. Even after the fire test, the container remained structurally intact and could be lifted as a complete unit.

Under full-charge, close-spacing and maximum-ventilation conditions, the PowerTitan 3.0 contained the thermal event within the initiating container and prevented it from escalating into a multi-container event. The results demonstrate stable, reliable and controllable system performance under extreme conditions and mark a key step in validating the safety of higher-energy BESS platforms.

Three Generations. All Successfully Tested. Simulation Meets Reality.

From PowerTitan 1.0 and 2.0 to PowerTitan 3.0, all three generations have completed their large-scale fire tests on the first attempt, enabling Sungrow to build a comprehensive database of thermal runaway and fire behavior. Before the physical test, PowerTitan 3.0 underwent simulation-based assessments across hundreds of application scenarios and operating conditions using Sungrow’s simulation platform, the world’s largest of its kind. The simulated fire intensity and development trends closely matched those observed during the physical test, validating the model’s ability to predict fire behavior under extreme conditions.

“This test was about verifying our safety design under real-world extreme conditions,” said Roger Li, General Manager of the Utility-Scale Product Line, Sungrow Energy Storage Business Unit. “Safety must be engineered into the product from the beginning. Simulation helps predict how the system will respond, while large-scale fire testing puts those predictions to the test. Energy storage safety is about far more than cell safety alone. It is the result of multiple factors working together, including cell performance, system integration, thermal management, structural protection, engineering design, and more.”

Benjamin Liu, Engineering Manager at UL Solutions, commented: “Sungrow started with safety by design, used pre-test assessments to predict fire behavior, and then validated those predictions through a large-scale fire test. The test result showed that the design was able to contain the fire and prevent propagation, helping significantly reduce the potential scale of loss.”

By bringing together safety-by-design engineering, predictive simulation and large-scale physical testing, Sungrow is building a robust, evidence-based approach to BESS safety. For project owners, investors, insurers and emergency responders, this provides a stronger technical basis for assessing fire risks, planning emergency responses and protecting critical assets throughout a project’s lifecycle.

SOURCE Sungrow

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Zark Launches Parking and Inventory Management, Bringing Field-Level Control to Multifamily Teams

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Mobile-First Tech Transforms Parking From a Reactive Pain Point Into a Streamlined, Efficient Operation

SCOTTSDALE, Ariz., Oct. 21, 2026 /PRNewswire-PRWeb/ — Zark, the leading provider of ancillary revenue optimization technology purpose-built for multifamily, today announced the release of its new Parking & Inventory Management solution. The newest functionality in Zark’s platform is a comprehensive mobile-first solution that simplifies vehicle registration and validation, parking space audits and parking system enforcement.

When managed effectively, multifamily parking systems should function consistently for residents and serve as a steady and reliable source of revenue for operators.

LPR+ technology and Smart Stickers highlight the rollout, adding two major advancements that push parking operations even further into the field. LPR+ combines mobile license plate recognition with AI-driven vehicle identification via a single photo from any phone. The result is instant, accurate vehicle data without fixed cameras, gates or hardware installation. Smart Stickers — QR-based windshield tags that activate only when scanned by a resident — permanently ties the sticker to the vehicle and completes registration using LPR+ under the hood for a clean, counterfeit‑resistant record of every car on the property. Smart Stickers streamline onboarding, simplify field verification, support enforcement rules and provide tow partners with a reliable confirmation tool.

The solution also automates community parking space audits, keeping property records current, and converts monthly parking fees into a direct revenue stream. This can all be accomplished without any CapEx investment or ongoing maintenance, making Zark Parking & Inventory Management a fit for any multifamily community.

“Parking management has evolved slowly at multifamily communities and remains one of the highest friction points in operations,” Zark CEO Todd Katler said. “Our Parking and Inventory Management solution changes the process from reactive, inaccurate and manual, and makes it streamlined, efficient and accurate. When managed effectively, multifamily parking systems should function consistently for residents and serve as a steady and reliable source of revenue for operators.”

Zark’s new parking capabilities reduce inefficiency and lower the risk of errors by eliminating many of the time-consuming manual processes traditionally associated with parking management. Engineered for the field, not the office, the Zark solution untethers teams from their desktops and empowers associates with the mobility to complete tasks remotely, without phone calls, emails or backtracking to the office.

“Teams have never been armed with easy-to-use, mobile-first technology to help them accurately and consistently address parking issues while they are out walking a property,” Katler said. “Now, all authorized team members, courtesy patrol members or tow companies can keep parking operations running smoothly from any point on the property, at any time. Zark puts the full parking picture in their pockets, replacing redundancy with productivity.”

Parking & Inventory Management is included for all Zark customers at no additional monthly fee for the remainder of 2026. For more information on the Parking & Inventory Management solution, visit ZarkParking.com.

About Zark

Zark is the leading provider of revenue optimization technology purpose-built for multifamily’s most underleveraged assets. Designed to improve the resident experience and generate ancillary income for operators, Zark’s intuitive platform enables residents and guests to reserve underutilized parking spaces and other assets, such as storage spaces, garages and carports. The parking tool streamlines parking enforcement for property teams with real-time tracking, customizable violations and towing coordination. Rentable Items feature helps properties maximize their amenities by offering daily and monthly rentals, enhancing the resident experience without capital expense or hefty fees. The Community Audit feature tackles significant and frustrating operational stresses by turning poorly managed records into clean, billable and verified parking assignments and rentals. For more information, visit zarkparking.com or LinkedIn.

Media Contact

Marlena DeFalco, Zark, 1 3036823943, marlena@linnelltaylor.com, www.zarkparking.com

View original content:https://www.prweb.com/releases/zark-launches-parking-and-inventory-management-bringing-field-level-control-to-multifamily-teams-302914665.html

SOURCE Zark

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India to Convene 130+ Countries at Bharat RE Summit & Expo 2026 to Advance Global Clean Energy Investment and Partnerships

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NEW DELHI, Oct. 21, 2026 /PRNewswire/ — Over 130 countries are expected to converge in New Delhi from 2–5 November for the Bharat Renewable Energy Summit & Expo 2026, bringing together global policymakers, investors and innovators to advance clean energy investment, technology partnerships and international cooperation. Hosted by India’s Ministry of New and Renewable Energy (MNRE), the Summit will take place alongside the 9th Session of the International Solar Alliance (ISA) Assembly and 4th International Conference on Green Hydrogen (ICGH), creating a major international platform connecting renewable energy markets, multilateral cooperation and emerging technologies.

India’s rapidly expanding clean energy sector provides a compelling backdrop. With non-fossil fuel capacity exceeding 304 GW in August 2026, including 168 GW of solar, India is working towards 500 GW of non-fossil capacity by 2030. Achieving this ambition will require substantial investment across renewable generation, transmission, storage, manufacturing and green hydrogen, creating significant opportunities for international capital, technology providers and industry partnerships.

Hon’ble Prime Minister of India, Shri Narendra Modi has also highlighted that India is the first country among the G20 nations to achieve the target laid down under the Paris Agreement.

The Summit will focus on opportunities to accelerate the global energy transition. Discussions will explore clean energy financing, resilient supply chains, green hydrogen and scalable deployment models. For developing economies, the convergence offers opportunities to strengthen cooperation on affordable energy access, technology exchange and innovative financing. ISA Assembly will bring a multilateral perspective to these discussions, connecting countries around practical solutions to expand solar deployment, mobilise investment and build local capabilities.

Shri Pralhad Joshi, Union Minister of New and Renewable Energy, Government of India, and President of the ISA Assembly, said, “India’s clean energy journey demonstrates what is possible when ambition is matched by investment, innovation and sustained action. But the energy transition is a shared global responsibility. At Bharat RE 2026, we invite governments, investors and innovators to forge partnerships, strengthen supply chains and advance solutions that make clean energy affordable and accessible to all. Together, we can turn shared ambition into lasting progress.”

With over 75,000 participants expected, more than 400 exhibitors, 500 speakers, and 90 curated sessions, Bharat RE Summit & Expo 2026 aims to connect investment opportunities with ideas, technologies, and partnerships that can accelerate the global energy transition.

Registration www.bresummit.in

 

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