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A space program that never leaves Earth

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GOTHENBURG, Sweden, March 27, 2025 /PRNewswire/ — While others race to the moon and back, the Faroe Islands space program takes a bold new step in space exploration-without ever leaving Earth. One of the largest bearing manufacturers SKF, and ocean energy developer Minesto are launching a space program to harness the Moon’s energy by leveraging the power of the tides. This space program aims to utilize the resources we already have right here on Earth.

“Imagine a future powered by the tides of the Moon. This unique project dares to dream big and is exploring the potential of renewable tidal energy. At SKF we are proud to be a part of this down-to-earth project that aligns with our values and our ambition to create a more sustainable world,” says Annika Ölme, CTO & SVP, Technology Development, SKF.

Over the past year, SKF and Minesto have been pioneering tidal energy using tidal kites in the Atlantic Sea outside the Faroe Islands. The mission is to harness the Moon’s power for predictable and renewable energy. After its successful launch into the ocean, the tidal kite called LUNA is flying underwater, invisibly and silently harvesting energy from the Moon – no matter the weather. Today, only a few of the countries with favorable tidal current conditions are beginning to utilize the full potential of moon generated energy – the most predictable renewable energy source on the globe.

“For us, as a tech development company to work with a global industrial company such as SKF is both a learning experience and an inspiration,” says Martin Edlund, CEO of Minesto. “We estimate there are at least 3000 more “Faroe Islands” out there qualifying for our space program – if they all join, moon energy could replace all coal power capacity currently under development globally.”

The established tidal energy facility – a moon energy base – will kick off the Faroe Islands Space Program, firmly grounded on Earth. The kite Luna has a rated power of 1.2 MW, enough to power 200 villas with electricity for one year. The next goal is to implement a new 200 MW tidal energy facility. This could meet 40% of the expected electricity needs in 2030, providing green electricity to the small, remote island nation’s 50,000 people and 70,000 sheep. Unlocking the power of the tides is a joint work together with power company Sev:

“Our vision is to reach 100% renewable electricity generation by 2030 and we believe that tidal power may prove to become a vital part of this journey,” says Hákun Djurhuus, CEO of the Faroese electricity company Sev.

SKF was brought on board to design the bearing and sealing systems for the rudders and elevators of the kites. The SKF software system calculates, for example, bearing rating life and estimates CO2 emissions, which makes it possible to compare different solutions not only from a technical perspective but also from a sustainability point of view.

“Collaboration across industries is essential for progress. Together with Minesto, we are demonstrating how technology and innovation can drive the transition to renewable energy,” says Annika Ölme, CTO & SVP, Technology Development, SKF.

By framing it as a space program (that never leaves earth), the partners aim to emphasize the importance of exploring how we can harness the Moon’s energy to generate renewable energy through tidal forces—amidst a new space race where many are discussing the potential of extracting resources from space and other planets.

Short facts tidal and ocean energy:

According to the International Energy Agency, 80 % of global electricity currently comes from fossil fuels.By 2050, ocean energy could potentially provide a substantial portion of the energy mix. Ocean energy is local, renewable and tides are predictable, which makes it the perfect partner to more established renewables like wind and solar.Ocean energy Europe estimates that ocean energy can provide 10% of Europe’s electricity and create 400.000 skilled jobs by 2050.

Source:

World Energy Outlook 2024 

Ocean energy – European Commission

Minesto | Ocean energy

Dashboard – Global Energy Monitor  “610 GW Coal Power Capacity Under Development”

Disclaimers 

The mission of the Faroe Islands energy company SEV, to reach 100% renewable energy by 2030, is not indicative of the displayed product’s full supply chain impact.

Calculated on an example villa with an energy consumption of 17.000 kWh/year. For average consumption data, please refer to country- specific sources such as Vattenfall

Aktiebolaget SKF

      (publ)

For further information, please contact:

Press Relations: Press Relations: Sian How, +447970 737470; sian.how@skf.com 
Karin Markhede, +46 70 758 87 30; karin.markhede@skf.com 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/a-space-program-that-never-leaves-earth,c4124396

The following files are available for download:

https://news.cision.com/skf/i/skf-fisp-press-image-kite-launch-16×9,c3391154

SKF FISP Press Image Kite launch 16×9

https://news.cision.com/skf/i/skf-fisp-press-image-kite-night-16×9,c3391158

SKF FISP Press image Kite night 16×9

https://mb.cision.com/Public/637/4124396/b3a6f6438953e925.pdf

About The Faroe Islands Space Program Fact sheet

https://mb.cision.com/Public/637/4124396/b8aa410e2aaf474a.pdf

Annika Ölme – Profile

https://news.cision.com/skf/i/skf-annika-olme-cto,c3391152

SKF Annika Ölme CTO

https://news.cision.com/skf/i/skf-fisp-press-image-cliff-ocean-16×9,c3391153

SKF FISP Press image Cliff Ocean 16×9

https://news.cision.com/skf/i/skf-fisp-press-image-tides-16×9,c3391156

SKF FISP press image Tides 16×9

https://news.cision.com/skf/i/skf-fisp-press-image-employees-group-16×9,c3391157

SKF FISP press image Employees Group 16×9

https://news.cision.com/skf/i/skf-fisp-press-image-kite-info-16×9,c3391159

SKF FISP press image Kite info 16×9

https://news.cision.com/skf/i/skf-fisp-press-image-employees-16×9,c3391160

SKF FISP press image Employees 16×9

https://news.cision.com/skf/i/minesto-chief-executive-officer—martin-edlund,c3391161

Minesto Chief Executive Officer – Martin Edlund

View original content:https://www.prnewswire.co.uk/news-releases/a-space-program-that-never-leaves-earth-302413157.html

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Leading Vision Plans for Retirees (2026): VSP Vision Care Highlighted for Senior-Friendly Eye Care Benefits by Expert Consumers

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NEW YORK, May 2, 2026 /PRNewswire/ — As more individuals transition into retirement, maintaining consistent access to vision care is becoming an important part of overall health planning. A recent report by Expert Consumers examines how individual vision insurance options are adapting to meet these needs, with VSP® Vision Care Individual Vision Plans identified as a structured option for retirees seeking predictable and accessible eye care coverage.

Vision Insurance for Seniors

VSP® Vision Care – individual vision plans offering routine eye exams, eyewear allowances, and predictable costs designed to support consistent, accessible eye care throughout retirement

The report notes that while many retirees prioritize medical insurance, vision care is often handled separately. Regular eye exams and updated prescriptions are important not only for maintaining clear vision but also for identifying early signs of certain health conditions. This has increased interest in standalone vision plans that provide defined benefits without relying on employer-sponsored coverage.

Access to Individual Vision Plans

Individual vision plans are designed to give retirees flexibility and independence when selecting coverage. Providers such as VSP Vision Care offer plans that can be purchased directly and tailored to different levels of care.

Common features include:

Multiple plan options with clearly outlined benefitsCoverage for routine eye care servicesTransparent pricing structures for easier budgeting

This approach allows retirees to continue receiving routine vision services without interruption after leaving the workforce.

Preventive Care Through Routine Eye Exams

Routine eye exams are a central component of many vision plans, including those offered by VSP Vision Care. These exams are typically available with fixed copays, helping reduce uncertainty around healthcare expenses.

Eye exams also play a role in preventive care and may help detect early signs of:

DiabetesHigh blood pressureAge-related vision conditions

Including regular exams as a core benefit supports ongoing monitoring of both eye health and general health.

Eyewear Coverage and Allowances

Coverage for eyewear is another key feature for retirees. Vision plans often include allowances that can be applied toward glasses or contact lenses on a recurring basis.

Typical benefits include:

Periodic allowances for frames or contact lensesCoverage for standard and progressive lensesReduced costs for lens enhancements like anti-glaire coating and scratch resistance

These features help individuals manage the recurring need for updated prescriptions and replacement eyewear.

Cost Transparency and Savings

Affordability remains an important consideration in retirement. Structured pricing models are designed to provide clarity and predictability in out-of-pocket expenses.

Common cost features include:

Set copays for routine services like eye examsDefined allowances for eyewear purchasesDiscounts on additional items beyond standard coverage

At this stage of the analysis, Expert Consumers highlights that predictable pricing and defined savings structures can help retirees better plan their spending over time.

Additional Benefits and Ongoing Value

Beyond core coverage, many vision plans include added features that extend their value. These may include savings on lens upgrades and a worry-free eyewear guarantee through participating Premier Edge locations.

Individual Vision Plans from VSP Vision Care also incorporate these types of benefits, supporting ongoing access to vision care while helping manage costs over time.

Such features provide flexibility for retirees who may require specialized eyewear or multiple pairs of glasses.

Key Considerations for Retirees

Selecting a vision plan in retirement involves evaluating several practical factors:

The balance between cost and coverageAccess to preventive and routine careOptions in eyewear benefits

Understanding how these elements work together can help retirees choose plans that support long-term vision care needs while remaining manageable in cost.

The Expert Consumers article notes that structured vision plans with clearly defined benefits and consistent pricing can support ongoing eye care needs. Individual vision plans,such as those offered by VSP Vision Care, reflect a model focused on preventive care and cost predictability for retirees managing their healthcare independently.

About VSP Vision Care

VSP Vision Care provides members access affordable eye care and eyewear through thousands of network providers. As the only national not-for-profit company in vision care, we reinvest our profits back into the communities we serve so that everyone can enjoy a lifetime of well-being.

About ExpertConsumers.org: Expert Consumers delivers news and insights on consumer products and services. As an affiliate, Expert Consumers may earn commissions from sales generated using links provided.

View original content:https://www.prnewswire.com/news-releases/leading-vision-plans-for-retirees-2026-vsp-vision-care-highlighted-for-senior-friendly-eye-care-benefits-by-expert-consumers-302760333.html

SOURCE ExpertConsumers.org

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Asian American Engineer of the Year Award and Conference Announces First Phase of 2025-2026 Awardees

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SANTA CLARA, Calif., May 1, 2026 /PRNewswire/ — The Asian American Engineer of the Year Award (AAEOY) Executive Committee announces the AAEOY 2025-2026 first phase awardees as follows:

Distinguished Lifetime Achievement Award

Mr. Lip-Bu Tan, CEO, Intel Corporation

Distinguished Leadership in Science and Technology Award

Dr. Arun Majumdar, Dean of the Stanford Doerr School of Sustainability, Stanford University

Executive of the Year Award

Dr. Xiaodong Che, Chief Technology Officer, Western DigitalDr. Sam Heidari, CEO, LumotiveDr. Jungwon Lee, Corporate Executive Vice President, Samsung ElectronicsDr. Liu Ren, Vice President & Chief Scientist, Bosch ResearchMr. Brandon Wang, Vice President, Synopsys

Engineer of the Year Award

Ms. Vivian Ye, Principal Member of Technical Staff, AT&T

Most Promising Engineer of the Year Award

Mr. Max Fang, Director of Architecture, AmbarellaMr. Johnny Ho, CSO & Co-founder, Perplexity AI

The AAEOY Award has been presented annually since 2002 as a cornerstone of the National Engineers Week program, honoring distinguished Asian American professionals across academia, public service, and industry. Since its inception, the AAEOY has recognized over 300 honorees — including nine Nobel Laureates, pioneering scholars, prominent corporate executives, and an astronaut — serving as a beacon of inspiration for the global STEM community. After a series of impactful ceremonies nationwide, the 2025-2026 AAEOY Award and Conference returns to the heart of innovation in Silicon Valley at the Santa Clara Convention Center on September 18-19, 2026.

For more information regarding the AAEOY program, awardees, and event registration, please visit www.aaeoy.org.

The Chinese Institute of Engineers in USA (CIE-USA), founded in 1917, is a nonprofit professional organization that promotes science, technology, engineering, and mathematics (STEM); supports professional advancement and leadership development; and recognizes the achievements of Asian American professionals through flagship programs such as the Asian American Engineer of the Year (AAEOY) Awards. One of the oldest and most prestigious Chinese American engineering associations in the United States, CIE-USA has seven regional chapters nationwide and hosts events throughout the year.

View original content to download multimedia:https://www.prnewswire.com/news-releases/asian-american-engineer-of-the-year-award-and-conference-announces-first-phase-of-2025-2026-awardees-302760569.html

SOURCE AAEOY

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Larry Kellerman, Fermi’s Chief Power Officer and Architect of Its 17 GW Energy Infrastructure, Accepts Board Nomination

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DALLAS, May 1, 2026 /PRNewswire/ — Toby Neugebauer, co-founder and largest shareholder of Fermi America (NASDAQ & LSE: FRMI), today announced that he has nominated Larry Kellerman to join the Fermi Board of Directors. Kellerman, who serves as Chief Power Officer at Fermi America, is the architect of the Company’s 17-gigawatt powered data center campus in Amarillo, Texas — the largest private energy grid in America.

Kellerman is co-founder and Managing Partner of Twenty First Century Utilities and brings more than four decades of power industry and finance expertise to the role. His career spans senior leadership positions at Goldman Sachs, El Paso Corporation, and I Squared Capital. Kellerman said he was honored by the nomination and would be pleased to serve if approved by the Board.

“I appreciate everything that Toby has manifested in Fermi and know that no other human could have created the enterprise and its many thoughtfully interconnected elements as quickly, as effectively, and in as value-accretive a manner as Toby’s leadership has been able to deliver.”
— Larry Kellerman, Chief Power Officer and Board Nominee, Fermi America

For Neugebauer, the choice was crystal clear. Kellerman, who has worked alongside Neugebauer since the earliest days of Project Matador knows Fermi’s power story better than anyone.

“When I came up with the idea of Project Matador, I knew that Larry Kellerman was the one person I needed to convert a really great idea into a really great reality. His knowledge of power and the future of powering data centers is unmatched. Larry is uniquely qualified to steward Fermi as a Board member, and I couldn’t be more pleased with his willingness to serve.”
— Toby Neugebauer, Co-Founder, Fermi America

View original content:https://www.prnewswire.com/news-releases/larry-kellerman-fermis-chief-power-officer-and-architect-of-its-17-gw-energy-infrastructure-accepts-board-nomination-302760575.html

SOURCE Toby Neugebauer

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