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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

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CGI launches high-security sovereign AI platform in Finland for enterprise and public sector use

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New KATAKRI-compliant service enabling AI development and deployment with data sovereignty, compliance, and scalable infrastructure

HELSINKI, April 27, 2026 /PRNewswire/ – CGI (TSX: GIB.A) (NYSE: GIB), one of the largest independent IT and business consulting services firms in the world, has launched a high-security sovereign AI and data services platform in Finland. The service provides an KATAKRI-compliant (National Security Auditing Criteria) environment enabling organizations to develop and operate AI applications in a secure and compliant environment.

As clients accelerate AI adoption, organizations must address strict data protection, security, and sovereignty requirements. CGI’s new high-security sovereign AI platform offers a deployment model delivered from a Finland-based data center, supporting enterprise and public sector clients that require the highest levels of security aligned with KATAKRI standards and control over their data and workloads, while enabling scalable adoption.

“With CGI’s local proximity model, we are uniquely positioned to partner with clients across industry sectors as they address evolving data protection, security, and sovereignty requirements,” said Niraj Sood, President, Finland, Poland and Baltics operations at CGI. “Our consultants, experts and engineers work side by side with our clients here in Finland, enabling a deep understanding of their needs, while also drawing on our global capabilities. With the integration of Agentic AI into the enterprise a top-of-mind priority for clients, we act as a trusted advisor: helping clients assess and build the right solution for their specific context, whether in high-security, cloud, or on-premise environments. We are pleased to complement these options with a platform that supports secure and scalable AI adoption where enhanced control and compliance are required.”

The platform is delivered from CGI’s high-security hybrid service, one of the few data centers certified against Finland’s national KATAKRI security audit criteria, which assesses information, physical, and administrative security for environments handling classified and other sensitive workloads. It supports the secure deployment of modern AI applications, enabling multiple large language models, seamless integration with existing systems via an OpenAI-compatible API, and a standardized delivery model that provides cost efficiency and predictability for enterprise-scale use.

“CGI helps clients assess different AI implementation options and select the most suitable approach for each use case. Our sovereign AI platform complements this by enabling organizations to operate data and AI applications within CGI’s data centers in Finland, under client governance and control, in a KATAKRI-certified setting,” said Jenni Mikkola, Senior Vice-President and Business Unit Leader for Global Technology Operations, CGI Finland.

“Generative AI offers significant potential for innovation and efficiency, and organizations are currently evaluating different ways to integrate AI into their overall architecture. CGI’s high-security AI platform provides a trusted alternative to public cloud and hybrid solutions, enabling clients to adopt AI quickly and securely while maintaining strong control over their data and environment,” said Mikkola.

About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2025 reported revenue is CA$15.91 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

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SOURCE CGI Inc.

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PATEO Joins Forces with AUMOVIO: AI-Driven Intelligent Driving Globalization to Jointly Expand the Global High-Computing SDV Market

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BEIJING, April 27, 2026 /PRNewswire/ — On April 25, at the Beijing International Automotive Exhibition, PATEO CONNECT Technology (Shanghai) Corporation (Stock Code: 2889.HK) entered into a strategic cooperation memorandum of understanding with AUMOVIO Holding China Co., Ltd. on the joint development of high-performance cross-domain integration and artificial general intelligence technologies and global market expansion.

According to the cooperation agreement, PATEO and AUMOVIO Group will fully leverage their respective research capabilities in high-computing SoC platforms, integrated cockpit-driving domain controllers and AGI algorithm research and development, as well as their industry influence in global supply chains, OEM customer resources and intelligent manufacturing, to jointly promote the global implementation of high-computing SDV domain control and AGI automotive application demonstration projects, and jointly promote the sustainable development of intelligent mobility and SDV technologies.

Regarding the specific details of the cooperation, the parties will jointly develop cross-domain integrated product solutions based on high-computing SoCs that meet future market demands. Meanwhile, a joint team will be formed to focus on demonstration projects for artificial general intelligence (AGI) automotive application products. Furthermore, PATEO and AUMOVIO Group will combine their respective advantages in technology, products, customers, supply chain, production and quality to jointly expand global SDV domain control and AGI application businesses. Based on their respective advantageous fields, the parties will realize a strong alliance of “channel + product”. At the technical level, upholding the principles of joint investment and technology collaboration, the parties will develop technologically leading high-computing and intelligent SDV technologies and products.

The signing of this Strategic Cooperation Memorandum of Understanding reflects AUMOVIO Group’s high recognition of the Company’s AI-centric, integrated “Software-Hardware-Chip-Cloud” automotive and mobile terminal solutions and ecosystem construction. This also marks a critical step for PATEO under its “AI + Globalization” dual-wheel drive strategy.

As an AI-centric provider of automotive and mobile terminal solutions and an ecosystem builder with integrated “Hardware-Software-Chip-Cloud” capabilities, PATEO has more than 2,100 employees globally and an R&D team of over 700 people, with its number of registered invention patents ranking first in the industry. This strategic cooperation with AUMOVIO Group is not only a significant milestone in PATEO’s globalization layout but also a powerful testament to its technical strength in the fields of high-computing SDV domain control and AGI application.

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SOURCE PATEO

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ebike Market worth $74.98 billion by 2035| MarketsandMarkets™

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DELRAY BEACH, Fla., April 27, 2026 /PRNewswire/ — According to MarketsandMarkets™, the global ebike market is projected to grow from USD 46.39 billion in 2026 to USD 74.98 billion by 2035 at a CAGR of 5.5%.3

Browse 380 market data Tables and 156 Figures spread through 570 Pages and in-depth TOC on ‘ebike Market’

ebike Market Size & Forecast:

Market Size Available for Years: 2026-20352026 Market Size: 46.39 billion2032 Projected Market Size: 74.98 billionCAGR (2026–2035): 5.5%

ebike Market Trends & Insights:

>250W–<450W battery capacity ebikes to hold the largest market share globally.Mid-drive motors are expected to be the fastest-growing ebike motor type during the forecast period.North America is expected to be the fastest-growing ebike market during the forecast period.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110827400

The global ebike market is growing gradually, with each region exhibiting different patterns. Asia Pacific dominates by volume, accounting for over 90% of global demand, driven by China’s large-scale adoption, affordability, and a strong manufacturing ecosystem, making ebikes a mainstream daily mobility solution. In Europe and North America, ebike demand has declined mainly due to structural and economic headwinds. In Europe, sales declined across key markets from 2023–2025 as high inflation, reduced consumer spending, and excess inventory from the pandemic surge led retailers to cut new orders. Some countries, like the Netherlands, reported a drop in bike sales in 2025, from 409,467 units in 2024 to 391,300 units; France dropped from 565,225 units in 2024 to 558,442 units; and Switzerland dropped from 151,772 units in 2024 to 142,223 units. The ebike market in Europe and North America is expected to recover in the second half of 2027.

>250W–<450W battery capacity ebikes to hold the largest market share globally.

The 250–450W segment dominates the ebike market primarily because it is the standard configuration for city, trekking, and hybrid pedal-assist ebikes, which represent the largest use case globally. Also, ebikes in this range achieve optimal efficiency, with energy density, weight, and motor draw well matched to typical urban duty cycles. A 300–400 W pack paired with 250 W-class motors typically delivers ~40–90 km of real-world range at moderate-assist levels without pushing cells into high discharge rates that accelerate thermal stress and degradation, allowing simpler battery management systems and air cooling instead of heavier thermal controls. Keeping capacity below ~450 W also reduces pack mass by ~1–2 kg versus larger systems, preserving ride dynamics, frame integration, and braking performance while enabling standard charging (2–4 A) on household outlets.

This range has seen the highest adoption in Europe, where regulations cap motor power at 250W. This has led major manufacturers like Bosch, Yamaha, and Shimano to design their systems around this limit, ensuring mass-market compliance and efficiency. In the Asia Pacific region, the same range is widely used for its cost-effectiveness and suitability for short-distance daily commuting, while in North America it remains common in commuter models despite the availability of higher-power options. Overall, this segment leads because it offers the best balance of regulatory compliance, affordability, energy efficiency, and real-world usability, making it the most practical choice for large scale adoption.

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Mid-drive motors are expected to be the fastest-growing ebike motor type during the forecast period.

Mid-drive motors are widely preferred in Europe and North America for their higher torque, better weight distribution, and superior efficiency, which align with premium commuting and trekking needs. Leading OEM systems from Bosch eBike Systems, Shimano Inc., and Yamaha Motor Co., Ltd. are engineered for these performance-focused markets. In contrast, hub motors dominate in Asia Pacific, largely driven by cost-sensitive demand. Suppliers such as Bafang Electric specialize in affordable hub motor systems that are easier to mass-produce and integrate. Notably, while many APAC-based suppliers (e.g., Bafang, Ananda, Dapu) export mid-drive systems to Europe and North America, they still prioritize hub motors domestically because mid-drive integration requires higher R&D investment, complex frame redesign, and drivetrain engineering, whereas hub motors can be easily mounted on conventional bicycle frames at lower cost. Overall, the global motor supply is dominated by key players such as Bosch eBike Systems, Shimano Inc., Yamaha Motor Co., Ltd., Brose Fahrzeugteile SE & Co. KG, and Bafang Electric, with Bosch, Shimano, and Bafang alone holding significant global market share due to their extensive OEM networks and technological capabilities.

North America is expected to be the fastest-growing ebike market during the forecast period.

North America is emerging as the fastest-growing e-bike market, driven by policy support, shifting mobility preferences, and expanding use cases beyond recreation. Between 2024 and 2026, several US states introduced purchase incentives and rebate programs. California offered substantial statewide vouchers of up to USD 2,000 for qualifying residents, with a focus on safety certifications; Colorado provided a USD 225 instant, point-of-sale tax credit for qualifying electric bikes, with additional incentives for cargo bikes; and local and city programs, such as those in Denver, offered significant incentives of up to USD 1,400. These government incentives are promoting ebikes in North America. In addition, cities are investing in bike-lane infrastructure and safety regulations, alongside stricter standards for battery safety and UL certification, improving consumer confidence. At the same time, rising fuel costs and demand for last-mile and cargo mobility solutions are accelerating adoption, especially in urban areas, making e-bikes a practical alternative to cars rather than just a recreational product.

Meanwhile, mountain and trekking ebikes hold a dominant share in North America because of the region’s strong outdoor culture and diverse terrain, where consumers demand higher performance, durability, and longer range. These bikes are predominantly equipped with mid-drive motors from key players such as Bosch eBike Systems, Shimano Inc., and Yamaha Motor Co., Ltd., which provide greater torque, improved balance, and more efficient power transfer on steep or off-road terrain. This preference reinforces the premiumization trend in North America, where consumers increasingly prioritize performance-oriented ebikes over basic urban models.

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Top Companies in ebike Market:

The Top Companies in ebike Market are Giant Manufacturing Co., Ltd (Taiwan), Yamaha Motor Company (Japan), Accell Group NV (Netherlands), Yadea Group Holdings, Ltd. (China), and Pon Bicycle Holdings B.V. (Netherlands).

Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting

Related Reports:

Electric Vehicle Market

Electric Two Wheeler Market

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MarketsandMarkets™ has been recognized as one of America’s Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

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