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M-tron Industries, Inc. Reports First Quarter 2025 Results

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1 year ago

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Revenues increased 13.8%, or $1.5 million, to $12.7 million for the three months ended March 31, 2025 from $11.2 million for the three months ended March 31, 2024Net income per diluted share increased $0.03 to $0.56 for the three months ended March 31, 2025 from $0.53 for the three months ended March 31, 2024Backlog increased $9.4 million, or 20.3%, to $55.5 million as of March 31, 2025 from $46.1 million as of March 31, 2024

ORLANDO, Fla., May 13, 2025 /PRNewswire/ — M-tron Industries, Inc. (NYSE American: MPTI) (“Mtron” or the “Company”), a designer and manufacturer of highly-engineered electronic components used to control the frequency or timing of signals in electronic circuits, announced its financial results for the three months ended March 31, 2025.

“Mtron delivered another quarter of revenue growth driven by healthy demand across our existing portfolio and the successful introduction of new products,” said Cameron Pforr, Mtron Interim Chief Executive Officer. “Our backlog increased significantly during the period and we remain focused on delivering innovative products that strengthen our market position and create sustained value for our stockholders.”

“We also successfully completed the distribution of the previously announced dividend of warrants on April 25, 2025, reflecting our ongoing commitment to enhancing stockholder value and providing opportunities for long-term participation in Mtron’s future growth,” continued Mr. Pforr.

Results from Operations

Revenue was $12.7 million in the first quarter of 2025 compared with $11.2 million in the first quarter of 2024. The increase was primarily due to strong defense product shipments.

Gross margin was 42.5% in the first quarter of 2025 compared with 42.7% in the first quarter of 2024. The decrease is primarily due to higher revenues partially offset by the initial higher manufacturing costs associated with the initial production runs of several new products. In addition, we saw the initial impact this quarter of newly initiated federal tariffs on imports of foreign sourced materials and partially finished goods.

Net income was $1.6 million, or $0.56 per diluted share, in the first quarter of 2025 compared with $1.5 million, or $0.53 per diluted share, in the first quarter of 2024. The increase in revenues discussed above was partially offset by higher manufacturing cost of sales consistent with the growth in revenues and the introduction of new products as well as higher engineering, selling and administrative expenses related to higher research and development costs, higher sales commissions from an increase in revenues, and an increase in corporate expenses consistent with the overall growth in the business.

Adjusted EBITDA was $2.5 million in the first quarter of 2025 compared with $2.3 million in the first quarter of 2024. The increase was primarily due to higher income before income taxes, depreciation, and stock-based compensation partially offset by higher interest income.

Backlog

Backlog was $55.5 million as of March 31, 2025 compared to $47.2 million as of December 31, 2024 and $46.1 million as of March 31, 2024. The increase in backlog reflects several large orders received during the quarter and the continued broad demand for our products.

Impact of Tariffs

In March 2025, Mtron saw the initial impact of the recently announced federal tariffs on the import of goods and materials from outside the United States. Mtron, while a United States-based manufacturer with a great degree of vertical integration, does import some materials from Japan, China, and South Korea and performs some finishing work at our facility in Noida, India. It is difficult to predict the long-term impact of this trade policy on our financial performance. We are working with many of our defense customers on enacting parts of the Federal Acquisition Regulation (“FAR”), which potentially exempt materials received for defense production from entry tariffs. In addition, we continue as always to analyze our supply chain in order to make sure we have redundancy of suppliers and can source from reliable suppliers at the best price possible. To date, we have seen no impact from tariffs on demand for our products.

Warrant Dividend

On April 25, 2025, the Company distributed the dividend of warrants to stockholders of record on March 10, 2025. The warrants are listed on the NYSE American under the ticker “MPTI WS.” The warrants may be listed on certain financial websites under the ticker “MPTI WT” or a similar nomenclature.

Pursuant to the Warrant Agreement, the warrants contain the following terms:

Five (5) warrants exercisable to purchase one (1) share of common stock;Exercise price of $47.50 per share;Exercisable at the earlier of (i) thirty (30) days prior to April 25, 2028 or (ii) the date on which the average volume weighted average price (“VWAP”) of Mtron common stock is greater than or equal to $52.00 per share for the prior thirty (30) consecutive trading day period (the “Acceleration Trigger”);Expire at the earlier of (i) April 25, 2028 or (ii) thirty (30) calendar days following Mtron’s public announcement of the date of the Acceleration Trigger; andWarrant holders exercising their full allotment of warrants can apply to subscribe for any or all shares of common stock issuable pursuant to any outstanding but unexercised warrants.

For further information, refer to the FAQ on Mtron’s Investor Relations website at ir.mtron.com/financials/2025-Warrant-FAQ.

Earnings Call

Management, including Mr. Pforr, will host a conference call with the investment community on Wednesday May 14, 2025, to discuss the Company’s first quarter 2025 results and to respond to investor questions.

The call will begin at 10:30 a.m. Eastern Time on Wednesday May 14, 2025, and can be accessed using the dial-in details below: 

Toll Free Dial-in Number:

(888) 672-2415

Toll Dial-in Number:

+1 (646) 307-1952

Passcode:

4068751

An archive will be available after the call on the Investor Relations section of Mtron’s website at ir.mtron.com, along with Mtron’s press release.

About Mtron

M-tron Industries, Inc. (NYSE American: MPTI) was originally founded in 1965 and designs, manufactures and markets highly engineered, high reliability frequency and spectrum control products and solutions. As an engineering-centric company, Mtron provides close support to its customers throughout our products’ entire life cycle, including product design, prototyping, production and subsequent product upgrades. Mtron has design and manufacturing facilities in Orlando, Florida and Yankton, South Dakota, a sales office in Hong Kong, and a manufacturing facility in Noida, India. For more information, visit www.mtron.com.

Cautionary Note Concerning Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as those pertaining to the uncertain financial impact of COVID-19 and the Company’s financial condition, results of operations, business strategy and financial needs. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words “believe,” “expect,” “anticipate,” “should,” “plan,” “will,” “may,” “could,” “intend,” “estimate,” “predict,” “potential,” “continue” or the negative of these terms and similar expressions, as they relate to Mtron, are intended to identify forward-looking statements.

These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by Mtron with the Securities and Exchange Commission, including those risks set forth under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K as filed with the SEC on March 27, 2025. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.

These forward-looking statements speak only as of the date of this press release. Mtron undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

 

M-tron Industries, Inc.

Quarterly Summary

(Unaudited)

2022

2023

2024

2025

(in thousands)

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Revenues

$

7,691

$

7,064

$

8,417

$

8,673

$

9,367

$

10,140

$

10,888

$

10,773

$

11,185

$

11,808

$

13,214

$

12,805

$

12,732

Y/Y

21.8

%

43.5

%

29.4

%

24.2

%

19.4

%

16.4

%

21.4

%

18.9

%

13.8

%

Gross margin

37.3

%

37.5

%

32.4

%

35.7

%

34.1

%

41.6

%

42.8

%

43.6

%

42.7

%

46.6

%

47.8

%

47.2

%

42.5

%

Y/Y

-8.6

%

10.9

%

32.1

%

22.1

%

25.2

%

12.0

%

11.7

%

8.3

%

-0.6

%

Net income (b)

$

619

$

486

$

503

$

190

$

553

$

1,277

$

1,586

$

73

$

1,486

$

1,744

$

2,267

$

2,139

$

1,630

Y/Y

-10.7

%

162.8

%

215.3

%

-61.6

%

168.7

%

36.6

%

42.9

%

2,830.1

%

9.7

%

Adjusted EBITDA (c)

$

1,177

$

841

$

876

$

1,114

$

1,028

$

1,931

$

2,336

$

2,397

$

2,262

$

2,523

$

3,300

$

3,056

$

2,502

Y/Y

-12.7

%

129.6

%

166.7

%

115.2

%

120.0

%

30.7

%

41.3

%

27.5

%

10.6

%

(a)

Q1 2022 – Q3 2022 do not include any public company costs as these periods were pre-IPO.

(b)

A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided at the end of this press release.

 

M-tron Industries, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

Three Months Ended March 31,

(in thousands, except share data)

2025

2024

Revenues

$

12,732

$

11,185

Costs and expenses:

Manufacturing cost of sales

7,326

6,406

Engineering, selling and administrative

3,393

2,990

Total costs and expenses

10,719

9,396

Operating income

2,013

1,789

Other income:

Interest income, net

111

32

Other (expense) income, net

(10)

42

Total other income, net

101

74

Income before income taxes

2,114

1,863

Income tax expense

484

377

Net income

$

1,630

$

1,486

Income per common share:

Basic

$

0.57

$

0.55

Diluted

$

0.56

$

0.53

Weighted average shares outstanding:

Basic

2,841,357

2,716,202

Diluted

2,906,144

2,784,960

 

M-tron Industries, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands, except share data)

March 31, 2025

December 31, 2024

Assets:

Current assets:

Cash and cash equivalents

$

13,662

$

12,641

Accounts receivable, net of reserves of $201 and $182, respectively

6,718

6,842

Inventories, net

9,365

9,509

Prepaid expenses and other current assets

694

760

Total current assets

30,439

29,752

Property, plant and equipment, net

5,397

5,061

Right-of-use lease asset

238

9

Intangible assets, net

40

40

Deferred income tax asset

1,650

1,623

Other assets

1

3

Total assets

$

37,765

$

36,488

Liabilities:

Total current liabilities

4,573

5,216

Non-current liabilities

41

—

Total liabilities

4,614

5,216

Total stockholders’ equity

33,151

31,272

Total liabilities and stockholders’ equity

$

37,765

$

36,488

Non-GAAP Financial Measures

Throughout this press release, including the results from operations, the Company presents its financial condition and results of operations in the way it believes will be most meaningful and representative of its business results. Some of the measurements the Company uses are “Non-GAAP financial measures” under SEC rules and regulations. The non-GAAP financial measures the Company presents are listed below and may not be comparable to similarly-named measures reported by other companies. the reconciliations of such measures to the most comparable GAAP measures in accordance with Regulation G are included within the relevant tables attached to this press release. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net earnings or diluted earnings per share prepared in accordance with GAAP.

The Company uses the following operating performance measure because the Company believes it provides both management and investors with a more complete understanding of the underlying operational results and trends and our marketplace performance:

Adjusted EBITDA is derived by excluding the items set forth below from Income before income taxes. Excluded items include the following:

Interest incomeInterest expenseDepreciationAmortizationNon-cash stock-based compensationOther discrete items that might have a significant impact on comparable GAAP measures and could distort the evaluation of our normal operating performance

 

Reconciliation of GAAP Income Before Income Taxes to Non-GAAP Adjusted EBITDA

Three Months Ended March 31,

(in thousands, except share data)

2025

2024

Income before income taxes

$

2,114

$

1,863

Adjustments:

Interest income

(111)

(32)

Depreciation

250

219

Amortization

—

5

Total adjustments

139

192

EBITDA

2,253

2,055

Non-cash stock compensation

249

207

Adjusted EBITDA

$

2,502

$

2,262

The following table is a reconciliation of Adjusted EBITDA to Income before income taxes:

2022

2023

2024

2025

(in thousands)

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Income before income taxes

$

794

$

592

$

614

$

595

$

719

$

1,582

$

2,046

$

53

$

1,863

$

2,146

$

3,008

$

2,758

$

2,114

Adjustments:

Interest expense (income)

3

2

1

5

2

5

(1)

(13)

(32)

(44)

(63)

(104)

(111)

Depreciation

148

165

173

185

195

190

192

220

219

220

278

251

250

Amortization

13

14

13

14

13

14

13

13

5

—

—

—

—

Total adjustments

164

181

187

204

210

209

204

220

192

176

215

147

139

EBITDA

958

773

801

799

929

1,791

2,250

273

2,055

2,322

3,223

2,905

2,253

Non-cash stock compensation

219

68

75

96

71

140

86

2,124

207

201

77

151

249

Excess Spin-off costs

—

—

—

219

28

—

—

—

—

—

—

—

—

Adjusted EBITDA

$

1,177

$

841

$

876

$

1,114

$

1,028

$

1,931

$

2,336

$

2,397

$

2,262

$

2,523

$

3,300

$

3,056

$

2,502

Adjusted EBITDA margin

15.3

%

11.9

%

10.4

%

12.8

%

11.0

%

19.0

%

21.5

%

22.3

%

20.2

%

21.4

%

25.0

%

23.9

%

19.7

%

 

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SOURCE Mtron

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ENROAD Aims to Redefine the Roof Box with Smart Technology and Automotive-Inspired Design at SEMA 2026

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31 minutes ago

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October 26, 2026

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LAS VEGAS, Oct. 26, 2026 /PRNewswire/ — ENROAD, a premium automotive travel lifestyle brand, will showcase its award-winning Nomadix Pro Smart Roof Box at SEMA Show 2026, at Booth 59033 in the West Hall with Diamond Lot, from November 3rd to 6th.

Recognized with the German Red Dot Design Award, Nomadix Pro reimagines the traditional roof box with fingerprint unlocking, solar-powered operation, and ENROAD’s Trispark energy system. Combining intelligent convenience with sleek, automotive-inspired design, it transforms roof storage from a simple cargo solution into a smarter companion for every journey.

ENROAD’s debut at SEMA Show marks an important step in bringing its vision of Smart Automotive Travel to the global automotive aftermarket and outdoor recreation communities, where innovation, personalization, and adventure meet.

Automotive-Inspired Design, Refined for Every Journey

A roof box should do more than add cargo space—it should complement the vehicle it sits on. The Nomadix Pro combines a streamlined silhouette and a clean, contemporary profile with distinctive integrated rear lighting, creating a more recognizable look that brings automotive-inspired design to a traditionally utilitarian accessory.

The Nomadix Pro received the 2025 Red Dot Design Award, recognizing its design, and represents three years of product development supported by more than 10 proprietary patents.

Smart Access, Without the Extra Steps

One of the Nomadix Pro’s standout features is its fingerprint-based unlocking system, offering an alternative to carrying and using a traditional key. A mechanical backup key provides another access option when needed.

ENROAD has also rethought the details that affect everyday use. Its ClickHold™ mounting system replaces conventional bulky knobs with a rack-and-cam lever mechanism, designed to simplify installation while preserving usable interior space.

The RailTie™ fastening system, featuring adjustable aluminum rails and zinc-alloy buckles, helps secure belongings during travel. A front-mounted secondary lock provides an additional measure to help keep the lid closed at speed, while four-bar hinges allow the box to open from either side of the vehicle.

Together, these features are designed to make installation, loading and accessing gear more straightforward.

Lighting That Works Beyond the Drive

Inside the Nomadix Pro, motion-sensing is equipped, with dual sensing for light and human body, that means less fumbling around when looking for a bag, jacket or piece of camping equipment after dark. The exterior rear lighting adds a distinctive visual details and safety while driving.

Nomadix Pro also incorporates ENROAD’s Trispark solar-powered energy system, which combines solar charging, portable power and campsite illumination in one integrated solution.

Trispark features a 24,000mAh battery, fast-charging capability and adjustable lighting modes, bringing additional utility to time spent outdoors.

From its exterior lighting to its interior illumination and portable power options, ENROAD is exploring ways to make the roof box a more considered part of the automotive travel.

Built Around Real-World Use

The Nomadix Pro has undergone 24 reliability tests covering scenarios including emergency maneuvers, lane changes, rough roads, prolonged vibration, extreme cold and repeated opening and closing cycles.

Its interior features molded felt lining to help protect stored equipment, while its mounting, fastening and locking systems address the practical demands of carrying gear on the road.

These details reflect ENROAD’s focus on combining a modern look with features that serve a clear purpose.

A First Look at What’s Next

SEMA 2026 will also offer an early look at ENROAD’s upcoming smart roof box. The new version will expand the ENROAD lineup, bringing its focus on contemporary design, practical storage and user-friendly features to a broader range of customers.

Visit ENROAD at SEMA 2026

Dates: November 3–6, 2026
Location: Las Vegas Convention Center
Booth: West Hall with Diamond Lot — 59033
Website: ENROAD – Easy to Go, Easy to Feel.

About ENROAD

Established in 2024 as a lifestyle brand under PGYTECH, ENROAD specializes in innovative automotive travel solutions. Its Nomadix Pro Smart Roof Box, developed over three years with 10+ proprietary patents, won the 2025 Red Dot Design Award, combining smart convenience, functional design, and green technology.

Backed by PGYTECH’s 10+ years of product innovation, ENROAD brings this expertise to the automotive travel lifestyle mobility space,  redefining the automotive travel experience.

For more information, visit ENROAD – Easy to Go, Easy to Feel.

 

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SOURCE ENROAD

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Hisense Celebrates 100 Years of Television and Marks the Origin of RGB MiniLED

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31 minutes ago

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October 26, 2026

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LONDON, Oct. 26, 2026 /PRNewswire/ — In 1926, John Logie Baird first demonstrated his pioneering television system at 22 Frith Street, London. A century later, Hisense, a leading global brand in consumer electronics and home appliances, returned to this historic site on 24–25 October to celebrate the centenary of television under the theme “Celebrating 100 Years of Television. Hisense, the Origin of RGB MiniLED.” At Outernet London’s The Now Building, near 22 Frith Street, an immersive big-screen experience brought a century of television history to life and showcased Hisense’s latest RGB technology.

A century of television innovation has transformed how people experience entertainment. Now, with RGB MiniLED, which represents the new origin of display innovation, Hisense aims to mark the next milestone in this ongoing journey. By connecting the origin of television with RGB MiniLED, Hisense launched a campaign at 22 Frith Street and Outernet London’s The Now Building. This celebration was not only a tribute to the past, but also a statement about the future of home entertainment, highlighting Hisense RGB MiniLED’s role in the next chapter of television. Martin Wilkie, Director at World Origin Sites, also praised what Hisense has contributed, ‘What Hisense has done is take television to the next stage — and the quality shows.’

Taking place on 24-25 October, Hisense’s “London Walk through TV History” connected five stops, inviting the public to follow the campaign map, enjoy a coffee, discover London’s rich television heritage and experience the latest in display technology along the way.

The main venue was Bar Italia at 22 Frith Street, Soho, a landmark site where Baird gave his first public demonstration of television in 1926. Here, visitors could enjoy a complimentary coffee while soaking up London’s television history and collecting limited-edition souvenirs and vouchers by participating in any one activity including a photo check-in, a Q&A quiz, or social media sharing.

Notably, on the afternoon of 25 October, Iain Logie Baird, grandson of television pioneer John Logie Baird, joined the celebrations at Bar Italia to mark this special milestone and honour the legacy of television. His presence lent historical weight to the event, which is a symbolic recognition of the continuity from his grandfather’s pioneering work to Hisense’s RGB MiniLED, the next step in television evolution. Hisense is doing something similar to my grandfather: taking something that had been exclusively in the laboratory and putting it into a product the public can buy and enjoy, said Iain Logie Baird.

As part of the trail, visitors were guided to The Now Building at Outernet London, Europe’s largest immersive digital experience space, featuring a 360-degree environment with ultra-high-definition LED screens. They could explore a museum-style exhibition celebrating 100 years of television history and experience Hisense’s latest RGB technology up close.

Bringing this immersive experience to life, Hisense’s latest RGB MiniLED technology marks the new milestone in display innovation. Exemplified by its flagship 116UXS TV, the technology delivers richer, more accurate colours, exceptional brightness and contrast, and lifelike picture quality, revealing a new level of realism to the viewing experience.

Visitors could also continue along the trail to the participating retail stores. These stores offer opportunities to explore Hisense RGB MiniLED products or enjoy exclusive vouchers, as detailed below:

John Lewis & Partners, Oxford Street:  Get hands-on with Hisense RGB MiniLED TVs.Selfridges, Oxford Street & Harrods, Brompton Road: Experience Hisense RGB MiniLED TVs and enjoy an exclusive 20% discount on eligible Hisense RGB MiniLED and MicroLED TVs when redeeming the voucher in store.

*Valid until 8 November 2026.

Arun Bhatoye, Head of Marketing for Hisense UK, said: “The UK’s rich heritage of broadcasting innovation makes it a particularly meaningful place to celebrate 100 years of television. As the origin of RGB MiniLED, Hisense is proud to help shape the future of display technology, pushing the boundaries of colour, brightness and contrast to deliver more lifelike visuals and enhanced viewing comfort. We’re excited to be part of the next chapter in television history and to bring these innovations to consumers around the world.”

About Hisense

Hisense, founded in 1969, is a globally recognized leader in home appliances and consumer electronics with operations in over 180 countries, specializing in delivering high-quality multimedia products, home appliances, and intelligent IT solutions. According to Omdia, Hisense ranks No. 1 globally in the 100-inch and over TV segment (2023-2026H1). As The Origin of RGB MiniLED, Hisense continues to lead the next-generation RGB MiniLED innovation. As an Official Partner of UEFA EURO 2028, Hisense continues its legacy of global sports partnerships, bringing people closer to the moments that unite fans around the world.

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ELEMENTL POWER, DS INVESTMENT PARTNERS AND SAMSUNG C&T TO ADVANCE NEW U.S. NUCLEAR DEVELOPMENT

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31 minutes ago

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October 26, 2026

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Proposed partnership of up to $750 million would help fund development of multiple Elementl nuclear projects

WASHINGTON, Oct. 26, 2026 /PRNewswire/ — Elementl Power, a nuclear project delivery and capital management platform, has signed a preliminary agreement to form and fund a development partnership of up to $750 million with a consortium led by South Korean investment firm DS Investment Partners (DSIP). Samsung C&T Engineering & Construction Group, which has delivered energy projects including nuclear worldwide, is participating in the consortium as a potential strategic investor. 

The consortium would fund a portion of the proposed partnership’s projected capital and hold a significant minority interest in the partnership. The agreement consists of a letter of intent and term sheet setting out the proposed terms of the partnership and allows for participation from additional strategic and financial investors.

The proposed nuclear development partnership is intended to provide a portion of the capital necessary for up to three of Elementl’s advanced nuclear projects to achieve final investment decision (FID), supporting pre-construction activities, including permitting, interconnection and long-lead item procurement. One of the three projects is Elementl’s 1.5 gigawatt project under development in Ohio, which will use GE Vernova Hitachi Nuclear Energy’s BWRX-300 small modular reactors.  

The planned partnership would advance Elementl’s full-lifecycle development strategy and demonstrate the company’s model of matching top-tier development capital with high-quality, pre-FID advanced nuclear projects. Elementl has engaged Macquarie Capital as financial advisor to evaluate bringing additional strategic and financial investors into the partnership.

“Elementl’s partnership with DS Investment Partners and its consortium would advance our full-lifecycle development strategy and represents a first-of-its-kind capital formation model for U.S. nuclear focused purely on developing multiple utility-scale projects,” said Elementl Chairman and CEO Chris Colbert. “Once finalized, this partnership would expand our early-stage project capital, increase our access to South Korea’s nuclear supply chain and engineering expertise and enhance our position as the financial and development partner best equipped to deliver new nuclear.”

“This proposed partnership would bring together financial and industrial expertise with proven experience in the nuclear sector to support the next generation of American nuclear projects,” said DS Investment Partners CEO Seung Soo Kang. “We believe new nuclear is essential to meeting rising energy demand, and we are proud to partner with Elementl and Samsung C&T in building a strong foundation to advance these power projects.”

“This collaboration represents a unique opportunity to establish a private capital model that accelerates the path to delivery for commercial U.S. nuclear projects, and we are pleased to bring our nuclear construction experience and support to this effort with Elementl and DS Investment Partners,” said Samsung C&T Senior Vice President Jung Kim.

The proposed partnership does not constitute a final investment decision on any project. The agreement remains subject to definitive documentation, regulatory approvals and other customary closing conditions.

Elementl is backed by leading energy and infrastructure investors, including Energy Impact Partners, accounts advised by T. Rowe Price Associates, Inc., Prelude Ventures, Breakwater North and Alumni Ventures.

About Elementl Power
Elementl Power is America’s Nuclear Prime, leading the delivery and capital management of new nuclear plants. Elementl’s platform combines expertise in energy finance, project execution, regulatory strategy, and nuclear operations with a technology-agnostic approach to drive the full lifecycle of plant development, from site selection and financing through licensing, construction and commercial operation. For more information, please visit elementlpower.io or follow us on LinkedIn.

About DS Investment Partners (DSIP)
DS Investment Partners (DSIP) is an investment firm focused on energy, technology, healthcare and strategic infrastructure, and is part of a Seoul-based financial group. Working alongside technology providers, industrial partners, and institutional investors across Asia, the Middle East, Europe and North America, DSIP seeks to support investments that enhance security, reliability and long-term sustainability while creating value for stakeholders.

About Samsung C&T Corporation
Samsung C&T’s Engineering & Construction Group has more than 40 years of engineering and construction experience operating throughout the world. The group spans commercial and residential buildings, civil infrastructure and plant construction. Its landmark projects include Burj Khalifa, the world’s tallest building, the Riyadh Metro Project in Saudi Arabia, the Qurayyah 4,000MW CCPP Project, and the ongoing Qatar 2,000MW Solar Power Project. In the nuclear energy sector, the company has successfully delivered 12GW across 10 units, including the 5.6GW Barakah Nuclear Power Plant in the UAE. It has recently undertaken the Nuclear Power Plant refurbishment project and Front-End Engineering Design (FEED) for Small Modular Reactors (SMRs), demonstrating its global competitiveness in large-scale reactor and SMR technologies, and solidifying its expertise across all areas of the nuclear industry.

CONTACT:

Timothy Wirth

Elementl Power Communications

(484)886-5705

tim@elementlpower.io

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SOURCE Elementl Power Inc.

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