RWE Issues US$1.5 Billion Dual-Tranche Green Bond as Investor Demand Exceeds Offering by More Than Six Times

(IN BRIEF) RWE has issued its third US dollar-denominated green bond, raising US$1.5 billion through two US$750 million tranches and reinforcing its regular presence in the US debt capital market. The five-year tranche carries a 5.625% annual coupon, an issue price of 99.944% and a yield to maturity of 5.638%, while the 10-year tranche carries a 6.000% coupon, was priced at 99.747% and offers a yield to maturity of 6.034%. Investor demand was strong, with the order book more than six times oversubscribed. The transaction follows RWE’s previous US dollar green bond issuances in 2024 and 2025. The company plans to issue an average of €3.0 billion to €3.5 billion in bonds each year across various currencies. Net proceeds from the latest transaction will finance eligible investments under RWE’s Green Financing Framework 2023, supporting the company’s wider investment programme while diversifying its international funding sources and investor base.

(PRESS RELEASE) ESSEN, 18-Sep-2026 — /EuropaWire/ — RWE has successfully placed its third US dollar-denominated green bond, raising a total of US$1.5 billion through two equal tranches and further expanding its presence in the US debt capital market.

The transaction comprises a US$750 million five-year tranche and a US$750 million 10-year tranche.

The five-year tranche carries an annual coupon of 5.625% and was issued at 99.944% of nominal value, resulting in a yield to maturity of 5.638%.

The 10-year tranche has an annual coupon of 6.000% and an issue price of 99.747%, corresponding to a yield to maturity of 6.034%.

RWE said investor interest in the transaction was particularly strong, with the final order book more than six times oversubscribed.

The latest offering represents RWE’s third green bond denominated in US dollars, following previous transactions in 2024 and 2025.

By returning to the market for a third consecutive year, RWE is continuing its strategy of regularly accessing US dollar debt markets alongside financing in other currencies.

The company currently plans to issue an average of approximately €3.0 billion to €3.5 billion of bonds annually across different currencies.

RWE intends to allocate the net proceeds from the latest bond issuance to eligible projects within its investment programme in accordance with the company’s Green Financing Framework 2023.

The framework establishes the criteria under which RWE can raise green financing and direct proceeds toward investments that qualify under its sustainable financing approach.

The latest US dollar transaction therefore forms part of RWE’s wider financing strategy for supporting capital expenditure while maintaining diversified access to international debt markets.

The dual-tranche structure provides RWE with funding across two maturity profiles, combining medium-term and longer-term capital in a single issuance.

Strong investor demand for both tranches also reflects continued market interest in RWE’s green financing instruments and in debt securities linked to investment programmes governed by environmental financing frameworks.

RWE’s repeated use of the US dollar market complements its euro and other currency financing activities and broadens the company’s investor base across international fixed-income markets.

By maintaining regular access to different currencies and maturities, the company aims to support its broader funding requirements while retaining flexibility in the timing and structure of future bond transactions.

RWE said proceeds from the issuance will be used in line with its existing Green Financing Framework rather than being allocated to general purposes outside the scope of that framework.

The company provides information on its outstanding bonds and credit ratings through its investor-relations resources as part of its broader debt and sustainable-finance reporting.

The securities and related guarantee have not been and will not be registered under the US Securities Act of 1933, as amended, or under the securities laws of any US state or other jurisdiction.

They may not be offered or sold in the United States or to, or for the account or benefit of, US persons as defined under Regulation S unless an applicable exemption from registration is available or the transaction is otherwise not subject to registration requirements under relevant US securities laws.

RWE

RWE is shaping the energy world of tomorrow. To this end, the company is investing billions of euros in offshore and onshore wind, solar energy, battery storage, flexible generation assets and, through its shareholding in Amprion, in the expansion of Germany’s transmission grid. The portfolio is complemented by its global energy trading business. RWE is already one of the leading companies in the field of renewable energy. Around 20,000 employees work for the company worldwide. With its integrated portfolio and broad project pipeline, RWE is ideally positioned to meet the growing global demand for electricity driven by electrification and artificial intelligence. At the same time, the company is making an important contribution to ensuring a secure, affordable and climatefriendly energy supply. RWE is decarbonising its business in line with the 1.5-degree reduction pathway, will phase out coal by 2030 and aims to achieve net zero by 2040 – fully in line with the company’s purpose: Our energy for a sustainable life.

Forward-looking statements

This press release contains forward-looking statements. These statements reflect the current views, expectations and assumptions of management, and are based on information currently available to management. Forward-looking statements do not guarantee the occurrence of future results and developments and are subject to known and unknown risks and uncertainties. Actual future results and developments may deviate materially from the expectations and assumptions expressed in this document due to various factors. These factors primarily include changes in the general economic and competitive environment. Furthermore, developments on financial markets and changes in currency exchange rates as well as changes in national and international laws, in particular in respect of fiscal regulation, and other factors influence the company’s future results and developments. Neither the company nor any of its affiliates undertakes to update the statements contained in this press release.

Data Protection

The personal data processed in connection with press releases will be processed in compliance with legal data protection requirements. If you are not interested in continuing to receive press releases, please inform us at Datenschutzkommunikation@rwe.com. Your data will then be deleted, and you will not receive any further press releases from us in this regard. If you have any questions about our data protection policy or the exercise of your rights under the GDPR, please contact datenschutz@rwe.com.

Media Contact:

Vera Bücker
Head of Media Relations International & Finance
Tel: +49 201 5179 5112
Mob: +49 (0) 162 251 73 29
Email: vera.buecker@rwe.com

SOURCE: RWE

thyssenkrupp Carbon2Chem® Marks Ten Years of Cross-Industry Innovation as CO₂, Green Hydrogen and Sector Coupling Move Toward Industrial Scale

(IN BRIEF) thyssenkrupp Carbon2Chem® is celebrating ten years of research and industrial development focused on converting CO₂ from steel production and renewable hydrogen into raw materials for chemicals and synthetic fuels. Launched in 2016 with the establishment of a technical centre in Duisburg, the initiative now involves more than 20 industry and academic partners, including thyssenkrupp companies, the Max Planck Institute for Chemical Energy Conversion and Fraunhofer UMSICHT, with funding from Germany’s Federal Ministry of Research, Technology, and Aerospace. Carbon2Chem® integrates steel, energy and chemical processes through sector coupling, using carbon, hydrogen and nitrogen from industrial streams to support products such as methanol, ammonia and synthetic fuels. The programme is now moving from demonstration toward industrial scaling. Its Duisburg site will gain an additional electrolysis hall to expand green hydrogen supply, while plans are also advancing for a Sustainable Aviation Fuel production facility. The next phase will focus on translating a decade of testing, applied research and industrial collaboration into larger-scale commercial applications and sustainable value chains.

(PRESS RELEASE) ESSEN, 18-Sep-2026 — /EuropaWire/ — thyssenkrupp Carbon2Chem® is marking its tenth anniversary, highlighting a decade of research and industrial development aimed at using CO₂ from steel production and hydrogen produced from renewable energy as raw materials for the chemical industry and creating new pathways toward lower-emission industrial value chains.

Launched in 2016, Carbon2Chem® has developed from an initial research initiative into a broad cross-industry platform involving more than 20 partners from industry and academia. Participants include several thyssenkrupp companies as well as research organisations such as the Max Planck Institute for Chemical Energy Conversion and the Fraunhofer Institute for Environmental, Safety, and Energy Technology UMSICHT.

The initiative is funded by Germany’s Federal Ministry of Research, Technology, and Aerospace.

At the centre of Carbon2Chem® is the concept that CO₂ and other components contained in metallurgical gases should not necessarily be treated as waste. Instead, carbon, hydrogen and nitrogen contained in these gases can potentially be used as feedstocks for chemical products including methanol, ammonia and synthetic fuels.

Matthias Kammel, Managing Director of thyssenkrupp Carbon2Chem®, said the programme began with a shared vision of treating CO₂ and other blast-furnace gas components as valuable raw materials. By linking steel production, the energy sector and the chemical industry, Carbon2Chem® aims to close carbon cycles and contribute to reducing industrial emissions.

A major component of the programme has been the Carbon2Chem® technical centre in Duisburg, where a groundbreaking ceremony took place in 2016.

Over the past decade, the facility has served as a bridge between fundamental research and industrial application. Researchers and industry partners have used the site to investigate individual process steps under realistic operating conditions and progressively refine technologies based on operational data.

The technical centre has therefore provided an environment in which technologies and process concepts can be evaluated before potential deployment on a larger industrial scale.

One of the project’s core principles is sector coupling: connecting industrial activities that have traditionally been treated as separate systems.

In the Carbon2Chem® model, steel production provides carbon-containing process gases, renewable electricity can be converted into hydrogen, and the chemical sector can use these inputs to manufacture chemicals and synthetic fuels.

Nadja Håkansson, Chief Operating Officer of thyssenkrupp Decarbon Technologies and Chief Executive Officer of thyssenkrupp Uhde, said Carbon2Chem® demonstrates the value of bringing industry and academia together to address complex sustainability challenges at the level of industrial processes.

She said integrating multiple systems and value chains enables CO₂ to be converted into feedstock for sustainable chemicals and fuels while creating new value chains and reducing emissions.

Carbon2Chem® also explores how the integration of energy-intensive industries could contribute to wider energy-system flexibility.

Prof. Robert Schlögl, Project Coordinator for Basic Research, said linking the steel, energy and chemical sectors creates opportunities not only to reduce emissions but also to integrate renewable electricity more flexibly into industrial processes.

Such integration could contribute to energy-system stability beyond the requirements of an individual industrial site.

After ten years of research, demonstration and technology development, the programme is increasingly focused on the transition toward industrial scaling.

The technologies and processes developed through Carbon2Chem® are intended to provide a basis for larger industrial applications and for business models built around more sustainable value chains.

At the same time, the programme continues to refine the range of potential products to respond to growing demand for lower-carbon chemicals and energy carriers.

Dr. Markus Oles, Project Coordinator for the Participating Industrial Companies, said interest in carbon-recycling technologies is increasing across industries.

He said treating carbon as a reusable raw material can contribute to economic resilience while supporting applications ranging from major industrial facilities to smaller and medium-sized companies seeking flexible ways to keep carbon in circulation.

The experience accumulated through Carbon2Chem® is also intended to provide a foundation for other industrial transformation projects.

Prof. Görge Deerberg, Project Coordinator for Applied Research, said the programme demonstrates that transformation within energy-intensive industries can be achieved when technological development, sustained collaboration and long-term commitment are combined.

He highlighted cooperation between fundamental research, applied research and industry as an important part of the programme and said the experience gained can provide guidance for comparable initiatives in the scientific and business communities.

Hydrogen production will play an increasingly important role in the next development phase.

The existing electrolysis hall in Duisburg currently houses a thyssenkrupp nucera pilot electrolyzer used to produce green hydrogen.

Plans are underway to expand the site with an additional electrolysis hall. Handover of the new facility to thyssenkrupp nucera is planned for next year.

The additional capacity is intended to strengthen hydrogen supply at the Duisburg location and establish infrastructure required for continuous industrial operation.

Dr. Werner Ponikwar, Chief Executive Officer of thyssenkrupp nucera, said Carbon2Chem® has provided an important industrial testing environment for the continued development of the company’s electrolysis technology.

He said the Duisburg site enables new technologies to be tested under realistic industrial conditions while simultaneously producing hydrogen, illustrating the importance of real-world development environments for advancing technologies from testing toward commercial application and larger-scale deployment.

Alongside the expansion of electrolysis infrastructure, the programme is also moving into a new application area through the planned construction of a Sustainable Aviation Fuel (SAF) production plant in Duisburg.

The decision to proceed with the SAF facility extends the project’s approach to using CO₂ as a raw material into the aviation sector, where alternatives to conventional fossil fuels are an important element of efforts to reduce emissions.

The planned SAF project represents another step in the transition from laboratory and demonstration work toward industrial implementation.

Carbon2Chem® is therefore entering its second decade with a stronger emphasis on scaling technologies that have been developed and tested through years of cross-sector collaboration.

Kammel said the first ten years have demonstrated what can be achieved when industry and science work together consistently on a challenge that cannot be solved by any single organisation.

The next phase, he added, will focus on translating the lessons and technologies developed through Carbon2Chem® into applications at industrial scale.

Media Contact:

Frank Grodzki
Head of Corporate Communications und Communications Decarbon Technologies
Telephone: +49 201 844 532601
press@thyssenkrupp.com

SOURCE: thyssenkrupp AG

Savills Nottingham Recognised for Commercial, Development and Residential Expertise With Double Property Awards Win

(IN BRIEF) Savills Nottingham has won both Agent of the Year and Deal of the Year at the 2026 Insider East Midlands Property Awards, presented at the De Vere East Midlands Conference Centre in Nottingham. The Agent of the Year award recognised the office’s performance across commercial, development and residential property, including strategic development advice, major transactions and regeneration projects. Savills also received Deal of the Year for its work on the £40 million Bramcote project, which unlocks 470 new homes while funding a replacement 950-place secondary school for White Hills Park Trust. The scheme brings together White Hills Park Trust, Nottinghamshire County Council, Miller Homes and other stakeholders and resolves technical, planning and viability issues that had prevented delivery for more than 15 years. The development will include 141 affordable homes, build-to-rent accommodation and more than £2 million in community contributions. Victor Ktori, Director and Head of Office at Savills Nottingham, said the awards reflect the expertise and collaboration of the company’s East Midlands teams and their focus on delivering positive outcomes for clients and communities.

(PRESS RELEASE) LONDON, 18-Sep-2026 — /EuropaWire/ — Savills Nottingham has secured two honours at the Insider East Midlands Property Awards, winning both Agent of the Year and Deal of the Year in recognition of its work across commercial property, development, residential markets and major regional transactions.

The awards were presented during Insider Media’s East Midlands Property Dinner, held on 17 September at the De Vere East Midlands Conference Centre in Nottingham.

Savills said the double win reflects a strong year for its Nottingham-based commercial, development and residential teams and recognises the office’s work on major property transactions, strategic development projects and regeneration initiatives across the East Midlands.

The Agent of the Year award recognises Savills Nottingham’s performance across multiple areas of the property market, including prime residential sales, development consultancy, commercial transactions and regeneration projects.

Judges highlighted the breadth of expertise available through the Nottingham office and its ability to deliver results for clients despite challenging market conditions.

Savills also received the Deal of the Year award for its involvement in the Bramcote project, a £40 million transaction designed to unlock the development of 470 new homes while financing construction of a replacement 950-place secondary school for White Hills Park Trust.

The project brought together White Hills Park Trust, Nottinghamshire County Council, Miller Homes and a range of public- and private-sector stakeholders.

Savills said the transaction required the parties to resolve significant technical, planning and viability challenges that had prevented a workable solution from being achieved for more than 15 years.

The resulting development framework enables both residential construction and delivery of the new school, linking land and property development with investment in local education infrastructure.

Of the 470 planned homes, 141 will be affordable homes, while the project will also include build-to-rent accommodation.

In addition, the development is expected to generate more than £2 million in community contributions, creating further investment for local infrastructure and services.

Savills described the Bramcote transaction as an example of how complex development projects can be structured to deliver multiple outcomes for landowners, public bodies, developers and local communities.

The scheme combines new housing supply, affordable accommodation, rental housing and education infrastructure while addressing a development challenge that had remained unresolved for more than a decade.

Victor Ktori, Director and Head of Office at Savills Nottingham, said winning two awards in one evening represented an important achievement for the company’s East Midlands teams.

He said the recognition reflects the capabilities of colleagues working across commercial, development and residential property and their focus on providing high-quality advice and service to clients.

Ktori highlighted the role of Savills teams in supporting landmark transactions, complex development projects and regeneration opportunities throughout the region.

He added that the awards also recognise the wider impact that property projects can have on local communities when commercial, planning and development objectives are successfully brought together.

Ktori credited the achievements to collaboration among colleagues across Savills and thanked clients, partners and stakeholders for their continued support and trust.

The Bramcote project was particularly recognised for bringing together a number of organisations with differing operational, financial and planning requirements and developing a structure capable of unlocking a significant residential and education-led development.

For White Hills Park Trust, the transaction provides funding for a new 950-place secondary school, while the housing element increases the supply of new homes in the area and incorporates a substantial affordable-housing component.

The project’s inclusion of build-to-rent housing further broadens the mix of residential tenures within the development.

Savills Nottingham said the award reflects the office’s broader focus on supporting complex development opportunities from strategic planning and advisory work through to implementation and transaction delivery.

The double recognition at the East Midlands Property Awards also highlights the range of property disciplines represented within the Nottingham office and their role in supporting continued investment and development across the region.

Media Contact:

Victor Ktori
Head of Office, Commercial
+44 (0) 115 934 8050

SOURCE: Savills

Vodafone Calls for Stronger Safeguards as Global Network Shutdowns Reach Record Levels and Economic Costs Approach $20 Billion

(IN BRIEF) Vodafone’s new Network Shutdowns in a Connected World report warns that deliberate internet and communications restrictions have reached record levels, creating growing social, security and economic costs. Access Now and the #KeepItOn coalition recorded at least 313 shutdowns across 52 countries in 2025, while full internet blackouts lasted 47% more hours than in 2024 and single-platform social-media restrictions increased by 66%. Around 800 million people were affected, while modelling cited by Vodafone estimates economic losses of nearly $20 billion, disproportionately affecting low- and middle-income countries. The report says shutdowns can disrupt healthcare, education, emergency communications, cybersecurity monitoring, financial systems and economic activity while often providing limited evidence that intended policy objectives are achieved. Vodafone has therefore proposed a Transparent Governance Framework requiring any connectivity restriction to meet tests of legality, necessity, proportionality and accountability. Proposed safeguards include written orders, independent oversight, regular reviews, judicial challenge and public reporting, with shutdowns considered only as narrowly targeted, time-limited measures of last resort.

(PRESS RELEASE) BERKSHIRE, 18-Sep-2026 — /EuropaWire/ — Vodafone has published a new report warning that government-mandated internet and communications shutdowns are becoming more frequent, longer-lasting and more economically damaging, while often failing to achieve their stated public-policy objectives.

The report, Network Shutdowns in a Connected World, examines the social, economic and security consequences of deliberate connectivity restrictions and proposes a new Transparent Governance Framework intended to ensure that any future shutdown is lawful, necessary, proportionate, transparent and subject to independent oversight.

According to figures cited in the report from Access Now and the #KeepItOn coalition, at least 313 deliberate internet shutdowns were recorded across 52 countries in 2025, making it the worst year on record. Full internet blackouts lasted 47% more hours than in 2024, while the duration of shutdowns affecting individual social-media platforms increased by 66%.

Vodafone estimates that approximately 800 million people were affected by deliberate internet or network restrictions during 2025. Based on modelling of major shutdown events, the report places the worldwide economic cost at nearly $20 billion, with losses disproportionately concentrated in low- and middle-income economies.

Some shutdowns have continued for days, weeks or even months, simultaneously disrupting domestic and international communications and access to emergency services, education platforms and financial systems.

Joakim Reiter, Chief External & Corporate Affairs Officer at Vodafone Group, said blanket network shutdowns are disproportionate and can create severe consequences for economies, public services and public trust.

He called on governments to reassess the use of internet restrictions and strengthen safeguards through coordinated action involving industry, regulators and civil society. Vodafone’s proposed governance framework is intended to improve transparency, accountability and discipline around decisions to disrupt connectivity.

The report brings together contributions from specialists in human rights, international law, cybersecurity, digital governance, economics and African public policy to assess the consequences of shutdowns from several perspectives.

On the social impact, the report finds that network shutdowns can immediately interfere with essential services across healthcare, education, public safety and livelihoods.

Vodafone said the effects can be particularly severe for low-income households, rural populations and other vulnerable communities, which often have fewer alternative channels for communication or access to support when digital services are unavailable.

The report also challenges assumptions about the security benefits of broad connectivity restrictions.

According to the analysis, shutdowns can interfere with emergency communications, weaken cybersecurity monitoring and create information vacuums in which misinformation can spread more easily, potentially undermining the public-safety and national-security objectives that restrictions are intended to support.

From an economic perspective, Vodafone’s report identifies significant losses across industries and markets when digital connectivity is interrupted.

As economies become increasingly dependent on online services, digital payments, communications and data flows, the financial consequences of shutdowns can become more substantial. Repeated and targeted restrictions may create cumulative economic losses while providing limited evidence that the intended policy outcomes are being achieved.

Vodafone acknowledges that governments have legitimate responsibilities relating to public safety and national security and that narrowly targeted, temporary restrictions may be justified in exceptional circumstances.

However, the company argues that any restriction should meet clear tests of legality, necessity, proportionality and transparency and should be subject to independent scrutiny.

The report notes that network restrictions in some countries are imposed without clearly defined legal frameworks or strong accountability mechanisms.

Vodafone argues that governments should clearly demonstrate why a restriction is necessary, show that it is proportionate to a specific risk, establish strict time limits and minimise unintended consequences for individuals, public services and the digital economy.

To address these concerns, Vodafone’s proposed Transparent Governance Framework states that shutdowns should be treated only as an exceptional measure of last resort.

Under the framework, a connectivity restriction should proceed only where there is a clear legal basis, a legitimate public-policy objective and credible evidence showing that the restriction is necessary to address a specific threat.

Governments would also need to demonstrate that no less restrictive alternative is available and that the expected benefits of a shutdown outweigh its potential social, economic and security costs.

If a proposed restriction fails any of those tests, Vodafone argues that it should not proceed.

The framework additionally calls for stronger procedural protections before, during and after any connectivity restriction.

These measures would include written shutdown orders, independent oversight, regular reviews, access to judicial challenge and public reporting on the rationale, impact and effectiveness of each restriction.

Only when the legal, necessity, proportionality and accountability requirements have all been satisfied should a shutdown be considered, according to Vodafone, and even then it should remain narrowly targeted and time-limited.

The report defines network shutdowns as the intentional disruption of electronic communications mandated or implemented by a government.

Restrictions may apply geographically to individual communities or nationally and may affect all communications or specific services. They can take the form of complete fixed and mobile internet blackouts, partial shutdowns such as disabling mobile data while maintaining voice services, or bandwidth throttling that makes online services effectively unusable.

The publication incorporates contributions from organisations and specialists including INCAS Consulting, Théo Jaekel, Johannes Thumfart, Arindrajit Basu, Anirudh Tagat, the Institute for Security Studies, Xhanti Mhlabiso and Adivhaho Florence Ramaite.

Its analysis draws on publicly available datasets, independent research, public testimony, stakeholder interviews and economic case studies.

Vodafone notes that some figures may vary between individual papers because contributors use different data sources and definitions. The company also states that the report’s information has not been independently verified or assured, although Vodafone believes the data and analyses were accurate when written between January and July 2026.

NOTES FOR EDITORS

Defining Network Shutdowns

“Network shutdowns” or “shutdowns” refer to the intentional disruption of electronic communications, mandated or implemented by a government. These can be geographically targeted and therefore affect specific communities or be implemented nationally and apply to all communications and/or specific services (for example, data but not voice).

Shutdowns can take multiple forms, including:
• Full internet blackouts affecting all fixed and mobile services
• Partial shutdowns, such as disabling mobile data while voice services remain available
• Bandwidth throttling that renders services effectively unusable

Expert Authors

The paper combines expertise from leading specialists in human rights, international law, cybersecurity, digital governance, economics, and African public policy, bringing together legal, economic, security and societal perspectives on network shutdowns and connectivity restrictions.

Social Impacts Section

INCAS Consulting: A specialist human rights and social impact advisory firm with extensive experience supporting governments, financial institutions and private-sector clients in complex and high-risk environments. INCAS brings expertise in human rights due diligence, impact assessment, and accountability frameworks, with particular experience in fragile and conflict-affected settings.
Théo Jaekel: An international human rights lawyer and senior expert at INCAS with more than 15 years of experience applying international legal standards in business and human rights contexts.

Security Paper

Johannes Thumfart: A researcher specialising in security, technology, digital governance and the ethics of international security management. His academic work focuses on internet shutdowns, digital rights, and the intersection of security policy and democratic governance.

Arindrajit Basu: A lawyer and policy researcher focused on cybersecurity, data governance, digital rights and human rights. He has worked across academia, international organisations and public policy, with significant expertise in internet governance and technology regulation.

Economic Case Study

Anirudh Tagat: An economist and academic specialising in behavioural and development economics. His research focuses on digital inclusion, public policy and economic development, with experience advising international organisations and conducting evidence-based economic analysis.

Governance / Framework Paper

Institute for Security Studies (ISS Africa): One of Africa’s leading policy research organisations, providing independent analysis on governance, security, justice and development issues. ISS works closely with governments, civil society and international institutions across the continent.

Xhanti Mhlabiso: A researcher specialising in constitutional law, accountability, human rights, international justice and governance. His work examines the intersection of law, state institutions and democratic oversight.

Adivhaho Florence Ramaite: A governance and public policy researcher whose work focuses on democratic institutions, public sector governance and emerging technologies. She brings expertise in policy development, leadership and governance reform across African contexts.

Methodology

The analysis draws on a wide range of sources, including publicly available data, independent research, public testimony, and stakeholder interviews. In the economic section, Vodafone has synthesised multiple sources of widely available data and case studies aimed at quantifying the economic impacts. Because the papers may rely on different data sources and definitions, some figures, such as the number of reported shutdowns, may vary slightly between author contributions. This reflects differences in methodologies, definitions of shutdowns, and, in some cases, the availability or consistency of data. The information contained in this report has not been independently verified or assured, but Vodafone believes all data and analyses to be true at the time of writing (between January and July 2026). Each paper is intended to function as a standalone piece focused on its specific topic area. Vodafone did not direct the findings of the authors, and the views, interpretations and analyses expressed are those of the respective authors.

Media Contact:

GroupMedia@vodafone.com

SOURCE: Vodafone

KfW Research Finds Geopolitical Tensions Increasingly Weigh on German Foreign Trade, With Exports Particularly Exposed

(IN BRIEF) KfW Research has found that widening geopolitical differences between Germany and its trading partners are increasingly associated with lower trade volumes, particularly German exports. Using UN General Assembly voting behaviour as a measure of geopolitical distance and trade data dating back to 1995, the analysis estimates that a one-point increase in geopolitical distance correlates with an approximately 17% reduction in German exports to the affected trading partner. The effect is weaker for imports, potentially reflecting Germany’s dependence on strategically important imported goods and raw materials for which alternative suppliers may be limited. KfW identifies 2016 as a significant turning point: since then, German exports and imports involving geopolitically closely aligned countries have each increased by around 26%, while exports to strongly divergent countries have fallen approximately 90% and imports 96%. A scenario involving a 0.7-point increase in Germany’s geopolitical distance from China and the US suggests exports could decline around 7% to China and 4% to the US, with smaller effects on imports.

(PRESS RELEASE) FRANKFURT, 18-Sep-2026 — /EuropaWire/ — KfW Research has found that growing geopolitical differences between Germany and its international trading partners are having a measurable negative impact on bilateral trade, with German exports showing a particularly strong response to widening political divergence.

The analysis indicates that the relationship between geopolitical alignment and trade flows has become considerably more pronounced since 2016, a period characterised by escalating international trade disputes, increasing protectionism and greater fragmentation of the global economy.

KfW Research measures geopolitical distance by analysing countries’ voting behaviour in the United Nations General Assembly. Differences in voting patterns provide an indicator of how far the foreign-policy positions of Germany and individual trading partners diverge.

Using trade data extending back to 1995, the analysis finds that a sharp increase of one point in geopolitical distance between Germany and a trading partner is associated with an approximately 17% reduction in German exports to that country.

The corresponding relationship is weaker for German imports.

KfW Research said this difference may partly reflect Germany’s dependence on imports of strategically important products, particularly raw materials, for which alternative sources may not always be readily available. Consequently, Germany may have less scope to adjust some import relationships even when geopolitical differences increase.

The analysis also indicates that the negative relationship between geopolitical distance and bilateral trade volumes has strengthened over time and is now more pronounced than it was in 1995.

KfW Research identifies 2016 as an important turning point, after which international trade patterns began changing more substantially against a backdrop of rising geopolitical and economic tensions.

These changes are also visible in the composition of Germany’s trading relationships.

Since 2016, German exports to countries whose UN voting behaviour is very similar to Germany’s have increased by approximately 26%, while imports from these countries have also risen by around 26%.

By contrast, Germany’s trade with countries whose geopolitical positions differ significantly has declined sharply over the same period. According to the analysis, exports to these countries have fallen by around 90% and imports by approximately 96%.

The findings suggest that geopolitical considerations are becoming increasingly relevant to the direction and intensity of Germany’s international trade relationships.

KfW Research also modelled potential future scenarios in which some of Germany’s largest non-European trading partners become more geopolitically distant.

One scenario considered an increase in geopolitical distance of 0.7 points, equivalent to one standard deviation, between Germany and both China and the United States.

Holding all other parameters constant, the model suggests that such a change could reduce German exports to China by approximately 7% compared with the current situation.

German exports to the United States could decline by around 4% under the same assumptions.

The estimated impact on imports from both markets would be substantially smaller, reinforcing the broader finding that Germany’s export activity appears more sensitive to geopolitical divergence than its import flows.

The scenario is not presented as a forecast but illustrates the potential magnitude of trade effects if political positions between Germany and major economic partners were to move further apart.

Dr Dirk Schumacher, Chief Economist of KfW, said geopolitics is becoming an increasingly important factor shaping international commerce.

He said Germany remains dependent on open markets and the international division of labour but must simultaneously address critical economic dependencies and broaden its network of trading relationships.

Schumacher highlighted the importance of strengthening domestic value creation, maintaining an efficient European internal market and developing targeted partnerships with countries that are strategically important as export markets and as suppliers of raw materials and intermediate goods.

The KfW Research findings underline the growing interaction between international political relationships and commercial activity at a time when companies are navigating more fragmented supply chains, geopolitical uncertainty and changing trade policies.

For an export-oriented economy such as Germany, the analysis indicates that shifts in geopolitical relationships can have material implications for access to overseas markets.

At the same time, the weaker response observed on the import side highlights the constraints created by dependencies on strategically important goods where alternative suppliers may be limited.

KfW Research therefore points to trade diversification, resilient domestic production capabilities and a strong European market as important elements in maintaining Germany’s international economic position as geopolitical fragmentation increases.

Media Contact:

Nina Luttmer
+49 69 7431 41336
nina.luttmer@kfw.de

SOURCE: KfW

European Investment Bank-Backed €5 Million Project Completes 14.5 km of Wastewater and Stormwater Networks in Ulcinj, Montenegro

(IN BRIEF) The Municipality of Ulcinj has completed 14.5 km of wastewater and stormwater sewerage networks with financing from a €5 million European Investment Bank loan, improving sanitation infrastructure for around 5,700 households in Kodre, Bijela Gora, Totosi and Donja Bratica. The project is designed to improve public sanitation, protect the local environment and Adriatic coastline, and provide infrastructure capable of supporting further tourism and economic development. Since 2006, the EIB has committed €116 million to Montenegro’s water and wastewater sector, comprising €57 million in loans and €59 million in EU grants through the Western Balkans Investment Framework, alongside technical assistance. Construction was undertaken by SPIGA Srl, with supervision from C.&S. Di Giuseppe Ingegneri Associati Srl and implementation managed by Project Consulting Podgorica. EIB representative Davor Kunc highlighted the importance of reliable, climate-resilient municipal infrastructure, while State Secretary Zoran Dabetić linked such investments to Montenegro’s European integration objectives. Mayor Genci Nimanbegu said Ulcinj’s priority is now to bring the completed infrastructure into operation quickly.

(PRESS RELEASE) LUXEMBOURG, 18-Sep-2026 — /EuropaWire/ — The Municipality of Ulcinj in Montenegro has completed construction of 14.5 kilometres of wastewater and stormwater sewerage networks, supported by a €5 million loan from the European Investment Bank (EIB).

The new infrastructure serves the settlements of Kodre, Bijela Gora, Totosi and Donja Bratica and is expected to improve sanitation services for approximately 5,700 households.

The project is also intended to strengthen environmental protection in Ulcinj and along Montenegro’s Adriatic coastline while supporting the continued development of tourism in the country’s southernmost coastal municipality.

The investment responds to growing infrastructure requirements in Ulcinj as the municipality experiences population growth, rising visitor numbers and increased economic activity.

Davor Kunc, Head of the EIB Representation to Montenegro, said expanding sanitation infrastructure is particularly important for a municipality experiencing strong tourism-related growth.

He said reliable and climate-resilient municipal infrastructure is essential for improving residents’ quality of life while creating the conditions needed for sustainable economic development.

The completed works represent part of a broader EIB-supported programme to strengthen Montenegro’s water and wastewater infrastructure and bring municipal services closer to European Union standards.

Since 2006, the EIB has invested a total of €116 million in Montenegro’s water and wastewater sector.

This support comprises €57 million in EIB loans and €59 million in European Union grants provided through the Western Balkans Investment Framework (WBIF).

The financing has been complemented by technical assistance supporting project preparation and implementation in accordance with EU requirements and standards.

The Ulcinj project is intended to provide more reliable management of wastewater and stormwater while reducing pressure on the local environment and the sensitive Adriatic coastal area.

Improved sewerage infrastructure is also expected to strengthen the municipality’s ability to accommodate future development, particularly in areas experiencing increased residential and tourism-related activity.

Zoran Dabetić, State Secretary at Montenegro’s Ministry of Ecology, Sustainable Development and Northern Region Development, said local governments need to achieve infrastructure and service standards recognised across the European Union if the country is to advance its European integration objectives.

He said projects such as the Ulcinj sanitation investment are helping municipalities across Montenegro develop into more modern communities aligned with European standards.

The construction works were carried out by Italian construction and infrastructure company SPIGA Srl.

Supervision services were provided by Italian consulting and engineering company C.&S. Di Giuseppe Ingegneri Associati Srl.

Project implementation was managed by Project Consulting Podgorica (PROCON), Montenegro’s national unit responsible for implementing municipal and environmental protection projects.

The completion of the physical infrastructure marks an important stage for Ulcinj, with the municipality now focused on bringing the newly constructed networks into operation so residents can benefit from the improved sanitation system.

Genci Nimanbegu, Mayor of Ulcinj, said implementation of the project had also provided the municipality with valuable experience in infrastructure development and investment planning.

Speaking at the handover ceremony, he said the municipality’s immediate priority is to place the new infrastructure into service as quickly as possible.

The 14.5 km network is intended to improve wastewater and stormwater management across the four beneficiary settlements while helping protect groundwater, surface water and the wider coastal environment from pollution associated with inadequate sanitation infrastructure.

For Ulcinj, the investment also supports longer-term urban and tourism development by increasing the capacity of municipal services to accommodate additional households, businesses and visitors.

The project forms part of the EIB’s wider commitment to financing municipal infrastructure in Montenegro and across the Western Balkans.

Through the combination of loans, EU grants and technical assistance, the EIB and its partners have supported investments intended to improve public services while helping Montenegro align infrastructure with standards associated with the country’s European integration process.

Media Contact:

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SOURCE: European Investment Bank

Kapsch TrafficCom Tests Connected Vehicles, Roadside Infrastructure and Dynamic Signal Priority in Buenos Aires

(IN BRIEF) Kapsch TrafficCom has launched what it describes as Latin America’s first V2X connected-mobility trial conducted in a live urban environment, deploying the technology on the streets of Buenos Aires. The proof of concept connects test vehicles, roadside infrastructure and a central Kapsch platform, enabling real-time exchange of traffic and safety information. Roadside units communicate over 5.9 GHz, while vehicle-mounted units support 5.9 GHz, LTE and Bluetooth connectivity. The pilot is already delivering alerts covering roadworks, lane closures, stopped vehicles and hazardous road conditions. Future stages will test traffic-signal priority based on conditions defined through the central platform and are expected to incorporate fleet-management and public-transport operational data. Kapsch sees particular potential for buses, which could communicate their exact location to connected traffic lights and request dynamic priority according to network and service conditions. Unlike traditional systems based largely on physical sensors or fixed schedules, the V2X approach uses information generated directly by vehicles to support more precise, responsive traffic-management decisions.

(PRESS RELEASE) VIENNA, 18-Sep-2026 — /EuropaWire/ — Kapsch TrafficCom has launched a proof-of-concept trial of Vehicle-to-Everything (V2X) connected mobility technology in Buenos Aires, enabling vehicles and road infrastructure to exchange information in real time under live urban traffic conditions.

The initiative is designed to demonstrate how connected-vehicle technologies can improve road safety, traffic management and urban mobility by allowing vehicles, traffic signals and central management platforms to communicate continuously while traffic is moving.

Kapsch said the project represents the first trial of its kind conducted in a real urban environment in Latin America.

Rather than limiting testing to a laboratory or closed demonstration circuit, the technology has been deployed directly on the streets of Buenos Aires, allowing its performance to be assessed in interaction with active traffic signals, moving vehicles, road conditions and everyday urban traffic flows.

The trial uses Kapsch TrafficCom’s V2X technology, which enables bidirectional communication between equipped vehicles and road infrastructure.

Information generated by the transport network can be transmitted directly to vehicles, while data from equipped vehicles can be returned to roadside systems and the central management platform.

Ramiro Virreira, Executive Vice President for Latin America at Kapsch TrafficCom, said operating the technology in a real urban environment allows the company to move beyond technical validation and focus on practical applications for cities.

He said V2X creates new possibilities for vehicles, traffic lights and management centres to exchange information and react in a coordinated way to conditions developing on the road network.

The architecture deployed for the Buenos Aires trial consists of a Kapsch central platform, roadside units and on-board units installed in test vehicles.

The roadside devices use 5.9 GHz communication technology, while the vehicle-based units support multimodal connectivity through 5.9 GHz, LTE and Bluetooth.

This combination provides several communication options between vehicles, roadside infrastructure and the central system.

The Kapsch platform is responsible for monitoring, configuring and controlling the roadside devices and provides the foundation for their integration into a broader connected traffic environment.

Through this architecture, infrastructure can transmit relevant information directly to equipped vehicles in real time.

Drivers can receive alerts and operational messages while travelling, while the central platform can monitor connected devices, manage standardised messages and display system information.

The current phase of the pilot already includes several road-safety and traffic-management use cases.

Test vehicles can receive warnings concerning roadworks or lane closures, notifications regarding stopped vehicles, and information about hazardous road conditions ahead.

These services are intended to give drivers additional time to respond to changing situations and provide road-management systems with a more direct communications channel to vehicles using the network.

The trial programme will also examine traffic signal priority applications.

Kapsch plans to design, implement and validate use cases in which traffic-light priority can be granted according to time windows or operational conditions defined through the central platform.

This capability could allow traffic-management authorities to dynamically adjust signal behaviour according to vehicle movements and network priorities rather than relying solely on static timing plans.

A future phase of the project is expected to integrate information from fleet management systems and public transportation operations platforms, expanding the range of data available to the connected traffic environment.

Kapsch sees significant potential for applying V2X technology to public transport, where communication between buses and traffic lights could help reduce delays and improve travel times.

Buses fitted with on-board V2X units can exchange real-time information with connected traffic signals, enabling requests for priority to be managed dynamically by the transport network.

Such a system can allow a bus approaching an intersection to communicate its position and operating status directly to the infrastructure.

The traffic-management platform could then determine whether priority should be granted based on predefined operational rules, network conditions or service requirements.

Kapsch said this approach differs from more traditional traffic-signal priority systems, which frequently depend on fixed schedules or physical roadside sensors.

V2X allows decisions to use information generated directly by the vehicle, enabling more precise identification of its location and potentially supporting priority strategies adapted to the operational circumstances of individual corridors and intersections.

This more granular approach could allow public transport priority to be targeted where it is operationally useful without applying the same traffic-light treatment across all vehicles or situations.

The Buenos Aires pilot therefore explores a broader model of connected urban mobility in which vehicles and infrastructure become active components of a shared digital traffic environment.

Roadside units can distribute alerts, traffic signals can receive information from approaching vehicles and central systems can coordinate communications and operational decisions across the network.

By conducting the trial under everyday urban conditions, Kapsch aims to evaluate how V2X performs in an environment involving live vehicle traffic, existing infrastructure and continuously changing road conditions.

The proof of concept is also intended to demonstrate how connected-mobility systems can evolve from isolated applications into integrated traffic-management ecosystems.

Kapsch said the technology could ultimately support cities seeking to improve road safety, enhance traffic efficiency and provide more coordinated mobility services by connecting vehicles, roadside infrastructure and traffic-management centres through real-time communications.

Kapsch TrafficCom is a globally renowned provider of transportation solutions for sustainable mobility with successful projects in more than 50 countries. Innovative solutions in the areas of tolling and traffic management contribute to a healthier world without congestion.

With one-stop-shop solutions, the company covers the entire customer value chain, from components and design to the implementation and operation of systems.

Kapsch TrafficCom, headquartered in Vienna, has subsidiaries and branches in more than 25 countries and is listed in the Prime Market segment of the Vienna Stock Exchange (ticker symbol: KTCG). In its 2025/26 financial year, about 2,700 employees generated revenues of EUR 431 million.

Media Contact:

Sandra Bijelic
Head of Corporate Communications
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
sandra.bijelic@kapsch.net

SOURCE: Kapsch TrafficCom

Alexion’s Investigational Efzimfotase Alfa Moves Into FDA Priority Review With PDUFA Decision Expected in First Half of 2027

(IN BRIEF) Alexion, AstraZeneca Rare Disease, has received FDA Priority Review for its Biologics License Application for investigational efzimfotase alfa (ALXN1850) in patients with hypophosphatasia aged two years and older, with a regulatory decision anticipated in the first half of 2027. The application is supported by the Phase III HICKORY, MULBERRY and CHESTNUT programme, covering treatment-naïve children, adolescents and adults as well as children previously treated with Strensiq. Efzimfotase alfa is a subcutaneous enzyme replacement therapy administered once every two weeks and is designed to replace deficient alkaline phosphatase activity, the underlying cause of HPP. Across the three Phase III studies, AstraZeneca reported that the therapy was generally well tolerated with a favourable safety profile. MULBERRY enrolled 29 children across 14 countries, CHESTNUT included 43 previously treated children across seven countries, and HICKORY enrolled 124 adolescents and adults across 17 countries. Regulatory submissions are also under review in Japan and other markets.

(PRESS RELEASE) CAMBRIDGE, 18-Sep-2026 — /EuropaWire/ — Alexion, AstraZeneca Rare Disease, has announced that the US Food and Drug Administration has accepted its Biologics License Application (BLA) for efzimfotase alfa (ALXN1850) and granted the investigational therapy Priority Review for the treatment of patients with hypophosphatasia (HPP) aged two years and older.

The regulatory application is supported by what AstraZeneca describes as the largest Phase III clinical programme conducted in HPP, comprising the HICKORY, MULBERRY and CHESTNUT trials. If approved, efzimfotase alfa would be intended to address skeletal abnormalities and functional impairments across eligible patients regardless of disease onset and would be administered once every two weeks.

The FDA grants Priority Review to applications for medicines that, if approved, could provide significant improvements over existing treatment options through greater efficacy or safety, prevention of serious conditions or improved patient compliance. The Prescription Drug User Fee Act (PDUFA) date, when the FDA is expected to take regulatory action on the application, is anticipated during the first half of 2027.

Hypophosphatasia is a rare, chronic and inherited metabolic disease caused by deficient activity of alkaline phosphatase (ALP), an enzyme important to healthy bone development and muscle function. The condition is associated with defective bone mineralisation, disruption of calcium and phosphate regulation and a range of functional impairments including muscle weakness, neurological symptoms, generalised fatigue and pain. Clinical manifestations can emerge at any age and may progress over time.

AstraZeneca estimates that the addressable HPP population totals approximately 13,800 patients across the United States, Germany, France, the United Kingdom, Italy, Spain, Japan and China, with adults accounting for approximately 80% of people living with HPP.

Marc Dunoyer, Chief Executive Officer of Alexion, said the FDA’s Priority Review represents an important regulatory milestone for the HPP community and reinforces the potential of efzimfotase alfa to improve treatment outcomes.

He said the therapy was designed using insights from patients to address both skeletal and functional manifestations of HPP while providing the convenience of self-administration once every two weeks. Dunoyer also highlighted findings showing five times lower annualised rates of injection-site reactions compared with Strensiq (asfotase alfa).

Efzimfotase alfa is an investigational enzyme replacement therapy designed for a broad range of HPP patients aged two years and older, including patients who do not have overt bone manifestations.

The therapy is administered by subcutaneous injection every two weeks and is designed to replace deficient ALP enzyme activity, addressing the underlying biological cause of HPP. Efzimfotase alfa remains investigational and has not yet been approved for the proposed HPP indication.

The BLA incorporates results from all three trials in Alexion’s global Phase III programme.

MULBERRY is a global Phase III randomised, double-blind, placebo-controlled, multicentre study evaluating efzimfotase alfa in children aged two to under 12 years with HPP who had not previously received Strensiq.

The study enrolled 29 patients across 14 countries in North America, South America, Europe and Asia. Participants were required to have a confirmed HPP diagnosis, radiographic evidence of HPP-related rickets and low serum ALP activity. Eligible participants also had either a disease-associated variant in the ALPL gene or elevated concentrations of pyridoxal 5′-phosphate (PLP), a biomarker associated with HPP.

Patients in MULBERRY were randomised 2:1 to receive weight-based doses of efzimfotase alfa or placebo by subcutaneous injection once every two weeks for 24 weeks.

The primary endpoint was the Radiographic Global Impression of Change (RGI-C) Score at Day 169. Secondary measures included the Rickets Severity Score, Six-Minute Walk Test, Bruininks-Oseretsky Test of Motor Proficiency and Peabody Developmental Motor Scales. Participants completing the randomised phase could continue into an ongoing open-label extension evaluating longer-term efficacy and safety.

CHESTNUT is a global Phase III randomised, open-label, active-controlled, multicentre trial involving paediatric patients aged two to under 12 years who had already received Strensiq at 6 mg/kg per week for at least six months.

The study enrolled 43 patients across seven countries. Participants were required to have an HPP diagnosis, prior treatment with Strensiq for at least six months and open growth plates confirmed by X-ray.

CHESTNUT participants were randomised 1:1 to receive efzimfotase alfa once every two weeks at one of three weight-based doses or to continue receiving 6 mg/kg per week of Strensiq through either three or six subcutaneous injections each week for 24 weeks.

The primary endpoint is the incidence of treatment-emergent adverse events, with key secondary measures including changes in the Rickets Severity Score and Radiographic Global Impression of Change. An ongoing open-label extension is evaluating longer-term safety and efficacy among participants completing the randomised phase.

HICKORY is a global Phase III randomised, double-blind, placebo-controlled, multicentre trial studying efzimfotase alfa in adolescents aged 12 to under 18 years and adults with HPP who had not previously been treated with Strensiq.

The study enrolled 124 patients in 17 countries across North America, South America, Europe, Asia and Australia. Eligible participants were required to have an HPP diagnosis and either a variant in the ALPL gene or elevated PLP, together with low ALP concentrations and two separate Six-Minute Walk Tests below 85% of predicted distance after adjustment for age, sex, weight and height.

Participants were randomised 2:1 to receive weight-based efzimfotase alfa or placebo by subcutaneous injection every two weeks for 24 weeks.

The primary endpoint was change from baseline in the Six-Minute Walk Test at Day 169. Key secondary endpoints assessed physical function, pain, fatigue, quality of life and safety through measures including the 30-second Sit-to-Stand Test, Lower Extremity Functional Scale, Brief Pain Inventory Short Form and Functional Assessment of Chronic Illness Therapy – Fatigue score. An open-label extension remains ongoing.

Across all three Phase III studies, AstraZeneca said efzimfotase alfa demonstrated a favourable safety profile and was generally well tolerated.

Results from MULBERRY and CHESTNUT were recently presented at the 12th International Conference on Children’s Bone Health, while results from HICKORY are scheduled to be presented at the 2026 American Society for Bone and Mineral Research Annual Meeting.

Regulatory applications based on the MULBERRY, CHESTNUT and HICKORY programmes are also under review in Japan and other markets.

Alexion already markets Strensiq (asfotase alfa), a bone-targeted enzyme replacement therapy designed to address deficient ALP activity in HPP. Strensiq is approved in the United States, European Union, Japan and other countries for certain patients with HPP and has received orphan drug designation from the FDA, European Medicines Agency and Japan’s Ministry of Health, Labour and Welfare.

Alexion, headquartered in Boston and operating as AstraZeneca Rare Disease, focuses on developing treatments for rare diseases and other serious conditions. AstraZeneca is a global biopharmaceutical company active across oncology, rare disease and other biopharmaceutical areas, with medicines sold in more than 125 countries.

Notes

Hypophosphatasia
Hypophosphatasia (HPP) is a rare, chronic, inherited metabolic disease caused by deficient activity of the enzyme alkaline phosphatase (ALP), which is important for building healthy bones and supporting proper muscle function.1 HPP is characterised by defective mineralisation (the process that hardens and strengthens bones and teeth), impaired calcium and phosphate regulation and functional impairments, such as muscle weakness, neurologic symptoms, generalised fatigue and pain that can be debilitating.1,2 HPP can be progressive, and clinical manifestations may occur at any age and evolve over time.1 The addressable HPP patient population is estimated at 13,800 across the US, Germany, France, UK, Italy, Spain, Japan and China.3 HPP affects people of all ages, with approximately 80% of people living with HPP being adults.1,2,5

MULBERRY
MULBERRY is a global Phase III randomised, double-blind, placebo-controlled, multicentre trial evaluating the efficacy and safety of efzimfotase alfa (ALXN1850) in paediatric patients (2 to <12 years of age) with hypophosphatasia (HPP) who have not been previously treated with Strensiq (asfotase alfa). The trial enrolled 29 patients from 14 countries across North America, South America, Europe and Asia.6

Patients were required to have an HPP diagnosis and the presence of HPP-related rickets on skeletal X-rays and low serum alkaline phosphatase (ALP) activity. Eligible patients also needed to demonstrate either a variant in ALPL, the gene encoding ALP, or elevated levels of plasma pyridoxal 5′-phosphate (PLP), a biomarker of HPP.6

Patients were randomised 2:1 to receive efzimfotase alfa at one of three doses based on predefined weight ranges or placebo, once every two weeks via subcutaneous injection for 24 weeks. The primary endpoint Radiographic Global Impression of Change (RGI-C) Score was assessed at the end of the randomised evaluation period (Day 169), along with multiple secondary endpoints measuring skeletal health and physical function, including change from baseline in the Rickets Severity Score (RSS), Six-Minute Walk Test (6MWT), Bruininks-Oseretsky Test of Motor Proficiency Score (BOT-2) and Peabody Developmental Motor Scales Score (PDMS-3).6

Patients who completed the randomised evaluation period were eligible to continue into an open-label extension period evaluating the safety and efficacy of efzimfotase alfa, which is ongoing.6

CHESTNUT
CHESTNUT is a global Phase III randomised, open-label, active-controlled, multicentre trial evaluating the safety and tolerability of efzimfotase alfa in paediatric patients (2 to <12 years of age) with hypophosphatasia (HPP) who have been treated with 6 mg/kg per week of Strensiq (asfotase alfa) for at least 6 months prior to study initiation. The trial enrolled 43 patients from seven countries globally.7

Patients were required to have an HPP diagnosis and have been treated with Strensiq for at least 6 months before the start of the trial with open growth plates confirmed by X-ray.7

Patients were randomised 1:1 to receive efzimfotase alfa at one of three doses based on predefined weight ranges once every two weeks or 6 mg/kg/week of Strensiq via 3x or 6x subcutaneous injections per week for 24 weeks. The primary endpoint is the incidence of treatment-emergent adverse events (TEAEs) at the end of the randomised evaluation period. Key secondary endpoints include change from baseline in the Rickets Severity Score (RSS) and Radiographic Global Impression of Change (RGI-C).7

Patients who completed the randomised evaluation period were eligible to continue into an open-label extension period evaluating the safety and efficacy of efzimfotase alfa, which is ongoing.7

HICKORY
HICKORY is a global Phase III randomised, double-blind, placebo-controlled, multicentre trial evaluating the efficacy and safety of efzimfotase alfa (ALXN1850) in adolescents (12 to <18 years of age) and adults with hypophosphatasia (HPP) who have not been previously treated with Strensiq (asfotase alfa). The trial enrolled 124 patients from 17 countries across North America, South America, Europe, Asia and Australia.8

Patients were required to have an HPP diagnosis and either a variant in ALPL, the gene encoding alkaline phosphatase (ALP), or elevated levels of plasma pyridoxal 5′-phosphate (PLP), a biomarker of HPP. Eligible patients needed to demonstrate low ALP levels and two separate Six-Minute Walk Tests (6MWTs) below 85% of the predicted distance adjusted for age, sex, weight and height, without a probable cause other than HPP.8

Patients were randomised 2:1 to receive efzimfotase alfa at one of three doses based on predefined weight ranges or placebo, once every two weeks via subcutaneous injection for 24 weeks. The primary endpoint of change from baseline in 6MWT was assessed at the end of the randomised evaluation period (Day 169), along with multiple key secondary endpoints measuring physical function, pain, fatigue, quality of life and safety, including change from baseline in 30-second Sit to Stand (STS) Test Score, Lower Extremity Functional Scale (LEFS) Score, Brief Pain Inventory Short Form (BPI-SF) Score and Functional Assessment of Chronic Illness Therapy – Fatigue (FACIT-Fatigue) Score.8

Patients who completed the randomised evaluation period were eligible to continue into an open-label extension period evaluating the safety and efficacy of efzimfotase alfa, which is ongoing.8

Efzimfotase Alfa (ALXN1850)
Efzimfotase alfa (ALXN1850) is an investigational enzyme replacement therapy (ERT) designed to demonstrate efficacy and safety in a broad range of patients with hypophosphatasia (HPP) aged ≥ 2 years, including patients without overt bone manifestations. Efzimfotase alfa is being developed as a subcutaneous treatment administered every two weeks to replace the deficient alkaline phosphatase (ALP) enzyme activity that is the underlying cause of HPP. Efzimfotase alfa has been granted Priority Review by the US FDA for the treatment of patients with HPP aged 2 years and older.

Strensiq (asfotase alfa)
Strensiq is a bone-targeted enzyme replacement therapy designed to address the underlying cause of hypophosphatasia (HPP) – deficient alkaline phosphatase (ALP). By replacing deficient ALP, treatment with Strensiq aims to improve the elevated enzyme substrate levels and improve the body’s ability to mineralise bone, thereby preventing serious skeletal and systemic patient morbidity and premature death.

Strensiq is approved in the US, EU, Japan and other countries for the treatment of certain patients with HPP. Strensiq has been granted orphan drug designation by the US Food and Drug Administration (FDA), the European Medicines Agency (EMA) and the Japanese Ministry of Health, Labour and Welfare (MHLW).

Alexion
Alexion, AstraZeneca Rare Disease, is focused on serving patients and families affected by rare diseases and devastating conditions through the discovery, development and delivery of life-changing medicines. A pioneering leader in rare disease for more than three decades, Alexion was the first to translate the complex biology of the complement system into transformative medicines, and today it continues to build a diversified pipeline across disease areas with significant unmet need, using an array of innovative modalities. As part of AstraZeneca, Alexion is continually expanding its global geographic footprint to serve more rare disease patients around the world. It is headquartered in Boston, US.

AstraZeneca
AstraZeneca (LSE/STO/NYSE: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Disease, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca’s innovative medicines are sold in more than 125 countries and used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Social Media @AstraZeneca.

References

1. Rockman-Greenberg C. Hypophosphatasia. Pediatr Endocrinol Rev. 2013;10(2):380-388.
2. Dahir KM, et al. Clinical profiles of treated and untreated adults with hypophosphatasia in the Global HPP Registry. Orphanet J Rare Dis. 2022;17(1):277.
3. AstraZeneca Data on File – Epidemiology estimates are composed of a triangulation of different data sources including Data Monitor, Decision Resources Group, Kantar Health, and internal input. Available here. Accessed September 2026.
4. Efficacy and Safety of Alkaline Phosphatase (ALP) Enzyme Replacement Therapy (ERT) Efzimfotase Alfa in Children with Hypophosphatasia (HPP): Results of MULBERRY and CHESTNUT as Part of a Three-trial Phase 3 Clinical Program. Presented at the International Conference on Children’s Bone Health; 2026 June 28; Montreal, Canada.
5. Fang S, et al. Diagnosed prevalence of hypophosphatasia: a retrospective analysis of electronic health records in the United States. Poster presented at ASBMR 2025 Annual Meeting; September 5-8, 2025; Seattle, WA.
6. ClinicalTrials.gov. Phase 3 study of ALXN1850 in treatment-naïve pediatric participants with HPP (MULBERRY). NCT Identifier: NCT06079359. Available here. Accessed September2026.
7. ClinicalTrials.gov. Phase 3 study of ALXN1850 in pediatric participants with HPP previously treated with asfotase alfa (CHESTNUT). NCT Identifier: NCT06079372. Available here. Accessed September 2026.
8. ClinicalTrials.gov. Phase 3 study of ALXN1850 versus placebo in adolescent and adult participants with HPP who have not previously been treated with asfotase alfa (HICKORY). NCT Identifier: NCT06079281. Available here. Accessed September 2026.

Media Contact:

Tel: +44 (0)1223 344 800
email: global-mediateam@astrazeneca.com

SOURCE: AstraZeneca

Arianespace and Aerospacelab Sign MoU to Explore Ariane 64 Launch Services for Future European Satellite Fleets

(IN BRIEF) Arianespace and Aerospacelab have signed a Memorandum of Understanding at World Space Business Week to explore future launch opportunities for Aerospacelab missions and satellite programmes developed for its customers. Under the agreement, Aerospacelab plans in particular to consider Ariane 64 for the deployment of satellite fleets, primarily supporting European institutional and commercial missions. The companies will jointly evaluate launch scenarios and mission configurations based on individual spacecraft requirements and deployment schedules. Ariane 64’s four-booster configuration and high payload capacity make it suitable for launching multiple satellites on a single mission and supporting different constellation architectures. Arianespace CEO David Cavaillolès said working together from an early stage should help the companies anticipate future programme requirements, while Aerospacelab CEO Benoît Deper highlighted the importance of cooperation between satellite manufacturers and launch providers and the contribution of access to space to European sovereignty. Founded in 2018, Aerospacelab combines vertically integrated satellite manufacturing with constellation deployment and operational capabilities.

(PRESS RELEASE) ÉVRY-COURCOURONNES, 18-Sep-2026 — /EuropaWire/ — Arianespace and Aerospacelab have signed a Memorandum of Understanding to expand their cooperation on future launch services and jointly assess launch opportunities for Aerospacelab missions and satellite programmes developed for its customers.

The agreement was signed during World Space Business Week and is intended to help the two companies prepare launch solutions for future European institutional and commercial missions.

Under the MoU, Aerospacelab plans in particular to consider Arianespace’s Ariane 64 for the deployment of satellite fleets.

The companies will work together to assess potential launch scenarios, mission configurations and deployment strategies that reflect the technical characteristics, size and schedules of individual satellite programmes.

The cooperation is intended to allow launch requirements to be considered earlier in the development of future missions, helping Aerospacelab and its customers identify configurations that correspond to both spacecraft requirements and deployment timetables.

Ariane 64 is the four-booster configuration of the Ariane 6 launch system and provides higher payload capacity for missions requiring the deployment of multiple spacecraft.

Arianespace said this configuration is particularly suited to satellite fleet deployments because several satellites can be carried on a single launch.

The resulting flexibility can support satellite programmes with different architectures, deployment sequences and mission requirements.

Through the new agreement, Arianespace and Aerospacelab intend to evaluate how these capabilities can be applied to future programmes serving European institutional and commercial customers.

David Cavaillolès, CEO of Arianespace, said Aerospacelab reflects the ambition and industrial capabilities of Europe’s space sector and highlighted Ariane 64’s potential for deploying satellite fleets.

He said closer cooperation from the early planning stages will allow both companies to anticipate the requirements of future programmes and develop launch solutions aligned with Aerospacelab’s ambitions.

Benoît Deper, CEO of Aerospacelab, said building and deploying satellite constellations requires close coordination between spacecraft manufacturers and launch service providers.

He added that dependable access to space is relevant both for individual satellite missions and larger fleet deployments and also contributes to Europe’s ability to maintain sovereign space capabilities.

The MoU establishes a framework through which the companies can examine launch needs before individual programmes reach final deployment planning.

By coordinating satellite manufacturing requirements with launch-service capabilities, the partners aim to provide mission-specific solutions rather than applying a single standard deployment model across different satellite programmes.

This approach is particularly relevant for constellation and fleet deployments, where launch capacity, orbital requirements, spacecraft numbers and deployment schedules must be coordinated closely.

Ariane 64’s payload capacity is intended to provide additional flexibility for missions involving larger groups of satellites or programmes seeking to consolidate multiple spacecraft on a single launch.

For Aerospacelab, the agreement provides a framework for incorporating Ariane 64 into the planning of future satellite programmes aimed primarily at customers in Europe.

The cooperation also strengthens the connection between satellite production and European launch capabilities as demand increases for more frequent and scalable spacecraft deployments.

Founded in 2018, Aerospacelab develops and manufactures satellites through a vertically integrated operating model and pursues a scalable approach to constellation deployment.

The company combines satellite manufacturing with operational capabilities and provides technologies intended to help governments, businesses and organisations obtain timely Earth-based information and connectivity services.

Its activities are designed around rapid spacecraft production and constellation deployment, making launch planning an important component of the company’s ability to scale programmes for different customers.

Arianespace and Aerospacelab said the MoU will allow the two companies to prepare more closely for those future requirements and identify suitable launch opportunities as new missions develop.

The agreement does not commit the companies to a specific number of launches but establishes a basis for assessing future Ariane 64 missions and satellite deployment needs.

By coordinating launch planning with Aerospacelab’s expanding satellite manufacturing capabilities, the two companies aim to provide European customers with launch solutions adapted to individual mission objectives, fleet architectures and deployment schedules.

About Aerospacelab

Founded in 2018, Aerospacelab is redefining the satellite manufacturing industry with its vertically integrated model and scalable constellation strategy. By combining rapid satellite production with hands-on operations, the company empowers governments, businesses, and organizations with reliable and efficient technologies that enable real-time insights to drive smarter decisions on Earth and power connectivity.

Media Contact:

Aerospacelab

Célia Berlemont
Communication & Public Affairs
+32 474 75 00 02
celia.berlemont@aerospacelab.com

Arianespace

Julie Lenoir
Chief Brand &
Communications Officer
j.lenoir@arianespace.com

Juliette Poisson
Media Relations Leader
juliette.poisson@ariane.group

SOURCE: ArianeSpace

Standard Chartered Backs Thailand’s Second Sovereign SLB as Biodiversity Targets Enter Asian Sustainable Finance Framework

(IN BRIEF) Standard Chartered has supported the Kingdom of Thailand’s THB25 billion, 15-year and eight-month Sustainability-Linked Bond as Joint Sustainability Structuring Bank, Joint Bookrunner and Joint Lead Arranger, under Thailand’s updated August 2026 Sustainability-Linked Financing Framework. The transaction was initially targeted at THB15 billion but attracted approximately THB36.3 billion in orders, equivalent to 1.45 times oversubscription. Designated SLB425A, the bond is linked to two sustainability KPIs: reducing Thailand’s net greenhouse gas emissions to 152 million tonnes of CO2 equivalent by 2035, a 47% reduction from 2019, and increasing protected and qualifying biodiversity conservation areas to at least 30% of national land area by 2030. Standard Chartered says this makes Thailand the first sovereign issuer in Asia to include biodiversity targets in a sustainability-linked financing framework. The issuance follows Thailand’s inaugural sovereign SLB, which mobilised more than THB230 billion through multiple reopenings. Standard Chartered also supported Thailand’s first Sustainability Framework in 2020 and its original Sustainability-Linked Financing Framework in 2024.

(PRESS RELEASE) LONDON, 18-Sep-2026 — /EuropaWire/ — Standard Chartered has acted as Joint Sustainability Structuring Bank, Joint Bookrunner and Joint Lead Arranger on the Kingdom of Thailand’s THB25 billion Sustainability-Linked Bond (SLB), supporting a sovereign financing transaction that links financial terms to national climate and biodiversity objectives.

The 15-year and eight-month bond, issued by the Kingdom of Thailand through its Ministry of Finance, was structured under the country’s updated Sustainability-Linked Financing Framework dated August 2026.

The transaction was initially targeted at THB15 billion, but investor demand resulted in a final orderbook of approximately THB36.3 billion, equivalent to around 1.45 times oversubscription.

Issued in Thai baht in Thailand’s domestic capital market, the bond demonstrates how sustainability-linked financing can be incorporated into a sovereign’s mainstream borrowing programme while mobilising domestic and international investment toward long-term environmental and development objectives.

Designated SLB425A, the issuance is linked to two sustainability Key Performance Indicators and associated Sustainability Performance Targets.

The first KPI relates to greenhouse gas emissions. Thailand is targeting a reduction in its net greenhouse gas emissions to 152 million tonnes of carbon dioxide equivalent by 2035, representing a 47% decrease from 2019 levels.

The second KPI addresses biodiversity and conservation. Thailand has committed to increasing the combined area of protected terrestrial and inland waters and other biodiversity conservation areas outside formally protected zones to at least 30% of the country’s total land area by 2030.

According to Standard Chartered, the inclusion of this biodiversity target makes Thailand the first sovereign issuer in Asia to incorporate biodiversity-related objectives within a Sustainability-Linked Financing Framework.

Standard Chartered supported development of the updated financing framework in its role as Joint Sustainability Structuring Bank.

The bank contributed expertise in sustainable finance and nature finance to the development of the framework, including advice on the selection of the sustainability KPIs and Sustainability Performance Targets.

Standard Chartered said the transaction is the second-largest sovereign sustainability-linked bond issued in Asia, behind Thailand’s inaugural sovereign SLB, and the fourth-largest globally.

The issuance further develops Thailand’s sustainability-linked sovereign funding programme and establishes another benchmark within the country’s domestic government bond market.

Jindarat Viriyataveekul, Director-General of Thailand’s Public Debt Management Office, said SLB425A brings measurable sustainability objectives directly into public debt management while balancing funding costs and financial risks.

Viriyataveekul said the bond also establishes a new benchmark for Thai government securities and supports further development of Thailand’s sustainable finance market.

The involvement of an international bank among the Joint Lead Managers, she added, helps broaden the transaction’s global reach, engage a wider range of international investors and diversify Thailand’s investor base.

Charles Corbett, Global Head of Public Sector at Standard Chartered, said Thailand is continuing to develop its sovereign sustainable financing programme by further integrating sustainability considerations into its core funding strategy.

He highlighted the introduction of a nature-related performance target alongside the country’s climate objectives and said Standard Chartered had contributed its sustainable finance, debt capital markets and nature finance expertise to help the Public Debt Management Office mobilise capital toward Thailand’s longer-term development objectives.

Rahul Sheth, Managing Director, DCM & Head, Sustainable Bonds at Standard Chartered, said the bank has supported Thailand’s sustainable finance development from its first Sustainability Framework in 2020, through the initial Sustainability-Linked Financing Framework in 2024, and into the framework’s latest update.

He said the August 2026 framework reflects Thailand’s latest NDC 3.0 and incorporates strengthened greenhouse gas emissions targets that support the country’s pathway toward a net-zero emissions scenario by 2050.

Sheth also highlighted the inclusion of biodiversity-related KPIs aligned with the 30×30 target under the Kunming-Montreal Global Biodiversity Framework.

Under that target, Thailand’s framework aims for at least 30% of its land area to be covered by protected terrestrial and inland water areas or qualifying biodiversity conservation areas by 2030.

Standard Chartered said the biodiversity component represents an important development for sovereign sustainable finance in Asia by broadening performance-linked sovereign borrowing beyond climate-related objectives.

The latest issuance builds on Thailand’s inaugural sustainability-linked bond, which Standard Chartered described as the first sovereign SLB in Asia and the third globally.

That earlier transaction, also supported by Standard Chartered, ultimately mobilised more than THB230 billion in local-currency financing through multiple reopenings.

The inaugural bond helped establish Thailand’s 15-year benchmark government bond while linking sovereign financing to national climate objectives, including progress in electric vehicle adoption and wider climate-policy implementation.

Standard Chartered said the initial programme also contributed to development of Thailand’s broader sustainability-linked finance market by demonstrating how performance-based sustainability objectives could be incorporated into sovereign debt instruments and by providing a reference point for domestic and international investors.

The bank previously played a central role in developing Thailand’s inaugural Sustainability-Linked Financing Framework in 2024, working with the Asian Development Bank and other stakeholders.

That work focused on aligning the framework with international sustainable finance standards and investor expectations.

The updated 2026 framework builds on that foundation by strengthening climate targets and incorporating a biodiversity objective for the first time.

By connecting borrowing terms with measurable national performance indicators, Thailand’s latest sovereign SLB is intended to create an additional mechanism for integrating climate, nature and financing priorities within the government’s wider debt-management strategy.

For Standard Chartered, the transaction also reflects the bank’s broader work with public-sector clients on sustainable debt, capital markets and nature-related finance structures.

Standard Chartered

We are a leading international banking group, with a presence in 55 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X(Opens in a new window), LinkedIn(Opens in a new window), Instagram(Opens in a new window) and Facebook(Opens in a new window).

Media Contact:

Mathilde Pelly
Director, Corporate Communications, Standard Chartered
mathilde.pelly@sc.com

SOURCE: Standard Chartered

Amundi Completes €620 Million Investment for 9.9% Economic Stake in ICG as 10-Year Private Markets Partnership Moves Into Operational Phase

(IN BRIEF) Amundi has completed the acquisition of a 9.9% economic interest in ICG for approximately €620 million, including 4.9% of voting rights, implementing the equity component of the long-term strategic partnership announced in November 2025. From Q3 2026, Amundi’s assets under management, net flows and financial results will reflect the contribution from the investment. The companies have also established a 10-year agreement under which Amundi becomes ICG’s exclusive global distributor in the wealth channel for evergreen and certain other products, excluding the United States, Australia and New Zealand, while ICG becomes Amundi’s exclusive provider of those solutions for its distribution business. The partners will jointly develop investment products aimed specifically at wealth clients. Their first planned launch, expected in the coming weeks, will be an evergreen fund providing access to ICG’s LP Secondaries strategy. Amundi CEO Valérie Baudson said the partnership strengthens the group’s private-market offering, while ICG CEO and CIO Benoît Durteste said the companies are already exploring further opportunities to broaden their collaboration.

(PRESS RELEASE) PARIS, 18-Sep-2026 — /EuropaWire/ — Amundi has completed the acquisition of a 9.9% economic stake in ICG, representing an investment of approximately €620 million, as part of the long-term strategic and equity partnership between the two groups announced in November 2025.

The interest includes 4.9% of ICG’s voting rights and represents a significant milestone in a partnership designed to strengthen Amundi’s capabilities in private markets and expand access to private-market investment products for wealth investors.

Beginning with the third quarter of 2026, Amundi’s reported assets under management, net flows and financial results will incorporate the contribution associated with its 9.9% economic interest in ICG.

The completion of the equity investment establishes a financial link alongside the broader commercial partnership agreed between the two companies.

Under the partnership, Amundi and ICG have entered into a 10-year distribution agreement covering private-market investment solutions for the wealth segment.

Amundi will act as ICG’s exclusive global distributor in the wealth channel for ICG’s evergreen funds and certain other products, with the arrangement excluding the United States, Australia and New Zealand.

In return, ICG will serve as Amundi’s exclusive provider of those products for Amundi’s distribution business.

The relationship is intended to combine ICG’s private-market investment capabilities with Amundi’s international distribution reach and experience serving wealth and pension investors.

In addition to distributing existing investment strategies, the two firms will jointly develop new private-market products specifically designed for wealth investors.

The first product resulting from the partnership is expected to launch in the coming weeks and will focus on private equity secondaries.

ICG said the product will take the form of an evergreen fund providing access to its LP Secondaries investment strategy.

The planned launch will mark the first commercial product developed under the partnership and is intended to broaden access to an investment segment that has traditionally been more heavily associated with institutional investors.

The companies said their collaboration is expected to expand over time as they identify additional areas in which ICG’s investment strategies can be adapted for Amundi’s wealth distribution network.

Valérie Baudson, Chief Executive Officer of Amundi, said the partnership with ICG represents an important step in the expansion of Amundi’s private-markets offering.

She said the combination of ICG’s investment expertise and Amundi’s global reach and understanding of individual investors’ needs will enable the companies to broaden access to private-market solutions for wealth clients internationally.

Baudson added that the partnership creates a platform for developing new investment products tailored to evolving investor requirements while supporting profitable long-term growth for the companies and their stakeholders.

Benoît Durteste, Chief Executive Officer and Chief Investment Officer of ICG, said completion of Amundi’s 9.9% economic investment implements the equity component of the strategic partnership first announced in November 2025.

He said teams from both firms are already working on a range of products intended for the wealth market and highlighted the forthcoming LP Secondaries evergreen fund as the first expected launch.

Durteste said the initiative represents an initial step in developing the commercial potential of the partnership, which brings together ICG’s investment capabilities and Amundi’s expertise in wealth and pension distribution.

He added that the companies are already identifying further opportunities to deepen their cooperation over the longer term.

For Amundi, the completed investment reinforces its position in private markets by combining direct economic participation in ICG with a long-duration commercial arrangement.

The structure gives Amundi access to ICG products for distribution through its wealth network while also providing a framework for creating investment vehicles specifically designed for individual and wealth-management clients.

For ICG, the agreement provides access to Amundi’s international distribution capabilities across eligible markets and creates an additional route for extending its private-market strategies to a broader investor base.

The exclusive nature of the arrangement in the wealth channel is intended to align the two groups commercially over the duration of the 10-year partnership.

Evergreen structures are expected to form an important part of this approach, providing a framework through which private-market strategies can be offered to wealth investors in formats designed for longer-term investment and ongoing subscriptions.

The private equity secondaries product planned for launch in the coming weeks will be the first tangible product outcome of the agreement.

Private equity secondaries involve investments in existing private-market fund interests or portfolios rather than exclusively making commitments to newly established funds, giving investors another route to gain exposure to private equity.

With the equity investment now completed, Amundi and ICG are moving from the initial partnership announcement into implementation, with the financial contribution from Amundi’s stake beginning to be reflected from Q3 2026 and the first jointly targeted wealth product expected shortly.

About Amundi

Amundi, the leading European asset manager, ranking among the top 10 global players3, offers over 200 million investors a complete range of savings and investment solutions in active and passive management, in listed and private assets. Developed for a range of distributors (banks, wealth managers, financial advisors…) as well as for institutional investors and corporates, this offering is enhanced by services and technology tools covering the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages close to €2.6 trillion of assets4.

Its six international investment hubs5 , its financial and extra-financial research capabilities and its long-standing commitment to responsible investment make Amundi a leading player in the international asset management landscape.

Thanks to its strong local presence, particularly in Europe and Asia, Amundi offers its clients the expertise and advice of 5,400 professionals across 34 countries.

Amundi, a trusted partner, working every day in the interest of its clients and for society www.amundi.com

About ICG

ICG (LSE: ICG) is a global alternative asset manager with $126bn6 in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets. Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.

Disclaimer

This document: (i) is not intended as an offer or solicitation with respect to the purchase or sale of any security or financial instrument; (ii) is not to be relied upon in evaluating the merits of investing in any securities; and (iii) is provided solely as reference material for background purposes. Amundi does not guarantee the accuracy or completeness of this document and accepts no responsibility for any loss arising for any action taken or not taken by anyone using the information contained herein. Any forward-looking statements in this presentation are based upon current assumptions, remain subject to risk and uncertainties and may depend on events outside Amundi’s control.

1Including 4.9% voting rights

2 Excluding the United States, Australia, and New Zealand
3 Source: IPE “Top 500 Asset Managers” published in June 2026, based on assets under management as at 31/12/2025

4 Amundi data as at 30/06/2026

5 Paris, London, Dublin, Milan, Tokyo and San Antonio (via our strategic partnership with Victory Capital)

6 As at 30 June 2026.

Media Contacts:

Amundi

Natacha Andermahr
+33 1 76 37 86 05
natacha.andermahr@amundi.com

Corentin Henry
+33 1 76 32 26 96
corentin.henry@amundi.com

Cyril Meilland, CFA
+33 1 76 32 62 67
cyril.meilland@amundi.com

Thomas Lapeyre
+33 1 76 33 70 54
thomas.lapeyre@amundi.com

Annabelle Wiriath
+33 1 76 32 43 92
annabelle.wiriath@amundi.com

ICG

Fiona Laffan
+44 20 3545 1510
fiona.laffan@icgam.com

Chris Hunt
+44 20 3545 2020
chris.hunt@icgam.com

Caterina Neri
+44 20 3545 1822
caterina.neri@icgam.com

SOURCE: Amundi

©Gauthier Chauffrut

(IN BRIEF) Thales has launched HexaForce, an AI-enhanced multi-domain command and control system designed for NATO and allied armed forces operating across land, air, sea, cyber, electromagnetic, space and information domains. The platform supports command structures involving more than 100,000 personnel and uses a resilient distributed architecture intended to connect national systems, coalition partners and legacy technologies. HexaForce integrates AI capabilities from cortAIx, Thales’ AI accelerator involving around 800 engineers and data scientists, and uses large language models and agentic AI to support planning, situational awareness, decision-making, effector allocation and maintenance. Thales says live trials are targeting an increase in target-processing capacity from 100 to 1,000 targets per day. The system builds on operational experience from Artemis.IA, deployed with the French Ministry of Armed Forces since 2023. HexaForce was tested during NATO CWIX 2026 and supports Data-Centric Security and Federated Mission Networking standards while giving nations control over their own data and technology integrations.

(PRESS RELEASE) LA DÉFENSE, 18-Sep-2026 — /EuropaWire/ — Thales has launched HexaForce, a next-generation, AI-enhanced multi-domain command and control platform designed for NATO and allied armed forces operating in high-intensity environments.

The system has been developed to support national sovereignty while helping armed forces manage rapidly increasing volumes of operational data and faster decision-making cycles. HexaForce is already available and has been tested during NATO CWIX 2026, where its open and interoperable architecture was evaluated in a multinational environment.

Thales said HexaForce is designed to support command structures involving more than 100,000 personnel and to operate across land, air, sea, cyber, the electromagnetic spectrum, space and information operations.

The platform uses a distributed and resilient architecture intended to connect and coordinate existing military systems across national armed forces and coalition partners. Its purpose is to provide commanders with a consolidated operational picture while allowing information, commands and data to move between strategic, operational and tactical levels.

Christophe Salomon, Executive Vice-President, Secure Communications and Information Systems at Thales, said armed forces have differing requirements ranging from dedicated data platforms and cross-domain interfaces to AI-enabled command functions.

He said HexaForce is designed as a sovereign and modular system that can be adapted to those requirements while supporting interoperability between allies and national systems.

Artificial intelligence capabilities within HexaForce are provided through cortAIx, Thales’ dedicated AI accelerator, which brings together approximately 800 engineers and data scientists working with the Group’s defence specialists.

The platform integrates large language models and agentic AI to support operators throughout different phases of a mission.

Thales said these capabilities are intended to shorten planning cycles, improve operational awareness, support real-time sharing and consolidation of tactical and operational information, accelerate decision-making, improve effector allocation and assist maintenance and support activities in the field.

HexaForce is also designed to automate the analysis, correlation and prioritisation of large volumes of data originating from military systems, open sources and civilian information channels.

By processing and organising these datasets, the system is intended to help armed forces identify relevant operational information more rapidly and increase the tempo of command and control activities.

According to Thales, ongoing live trials are preparing the system for broader operational deployment and are targeting an increase in processing capacity from approximately 100 targets per day to as many as 1,000 targets per day.

The development builds on experience gained with Artemis.IA, a data-centric platform deployed with the French Ministry of Armed Forces since 2023.

Thales said Artemis.IA has demonstrated the ability to process multi-source data and scale AI applications in defence environments, providing operational feedback that has informed the development of HexaForce.

The new platform is intended to connect command structures from the highest strategic level through to units operating in the field.

Its distributed data network is designed to continue functioning even when communications are significantly degraded, supporting continuity of operations in contested or disrupted environments.

HexaForce combines a core software platform with a range of multi-domain command applications.

The system is based on open-source standards and uses an open, interoperable architecture intended to facilitate integration with third-party technologies and existing military systems.

Thales said the architecture gives national authorities control over incoming and outgoing data flows without requiring them to expose data outside their chosen environment.

HexaForce natively supports Data-Centric Security (DCS) and Federated Mission Networking (FMN) standards.

These capabilities are intended to help allied nations exchange information while maintaining control over national data and security policies.

The open architecture also allows customers to integrate technologies from selected third-party suppliers rather than relying entirely on a closed proprietary environment.

This modular approach is intended to support long-term system evolution and enable armed forces to introduce new applications and technologies as operational requirements change.

HexaForce also provides connectivity with legacy systems from other vendors, allowing older military infrastructure to remain connected within a broader digital command environment.

Thales said the platform has been developed in close cooperation with military users, using short development and feedback cycles to incorporate operational requirements throughout the design process.

This approach is intended to ensure that changes in tactics, mission requirements and battlefield conditions can be reflected more rapidly in subsequent software releases.

The launch of HexaForce reflects growing demand for command-and-control systems capable of combining data from multiple military domains while applying artificial intelligence to assist operators with increasingly complex information environments.

By combining multi-domain orchestration, AI-enabled analytics, sovereign data control and interoperability with NATO standards, Thales is positioning HexaForce as a platform for armed forces seeking to modernise command structures without abandoning existing systems or national control over sensitive information.

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies for the Defence, Aerospace, and Cyber & Digital sectors. Its portfolio of innovative products and services helps address several major challenges: sovereignty, security, sustainability and inclusion.

The Group allocates €4.5 billion per year in Research & Development in key areas, particularly for critical environments, such as Artificial Intelligence, Cybersecurity, Quantum and Cloud technologies.

Thales has more than 85,000 employees in 65 countries. In 2025, the Group generated sales of €22.1 billion.
​

Know more

HexaForce, Thales AI-augmented multi-domain C4I system

Artificial Intelligence by Thales

Command, Control & Intelligence

Media Contacts:

Media Relations
Marion Bonnet
marion.bonnet@thalesgroup.com
+33(0)660384892

Camille Heck
camille.heck@thalesgroup.com
+33(0)673783363

SOURCE: Thales

Signing of the contract: Dominik Fust, Managing Director of ANDRITZ Hydropower Germany; Daniela Iordanescu, Refurbishment Department Manager of Hidroelectrica; Bogdan Badea, CEO of Hidroelectrica at the time of signing; Michael Fink, Sales Manager of ANDRITZ Hydropower; Rafael Luis Pulido Ortega, CEO of COBRA INSTALACIONES Y SERVICIOS SA
© ALEXANDRU DOBRE / MEDIAFAX FOTO

(IN BRIEF) ANDRITZ has been selected as part of a consortium led by COBRA Instalaciones to supply the complete electromechanical equipment for the modernization of SPEEH Hidroelectrica’s Râul Mare Retezat hydropower plant in Romania. The plant currently has an installed capacity of 335 MW but operates at only around 200 MW because of limitations in its existing equipment. The refurbishment will increase installed capacity by approximately 12% to 376 MW and enable the plant’s full capacity to be used. ANDRITZ’s contract, valued in the high double-digit million-euro range, includes the design, manufacture and supply of two 188 MW high-head Francis turbines, generators, automation equipment and auxiliary systems, with installation carried out under its supervision. Hidroelectrica CEO Iulius-Dan Plaveti said the project will strengthen renewable electricity supply in western Romania, improve services to the national grid and contribute to energy security. The order is included in ANDRITZ’s Q3 2026 intake, and completion of the modernization is expected by 2031.

(PRESS RELEASE) GRAZ, 18-Sep-2026 — /EuropaWire/ — International technology group ANDRITZ> has been selected to supply the complete electromechanical equipment for the comprehensive modernization of SPEEH Hidroelectrica’s Râul Mare Retezat hydropower plant in Romania, a project designed to increase available renewable generation capacity and strengthen services provided to the country’s power grid.

ANDRITZ is participating in the project as part of a consortium led by COBRA Instalaciones, which will carry out the extensive refurbishment of the hydropower facility.

The value of ANDRITZ’s portion of the contract is in the high double-digit million-euro range and has been included in the company’s order intake for the third quarter of 2026.

Râul Mare Retezat currently has an installed capacity of 335 MW, but limitations associated with the existing equipment have restricted actual available output to approximately 200 MW.

The modernization programme will increase installed capacity by around 12% to 376 MW while allowing the upgraded plant to make its full generating capacity available for operation.

The refurbishment is also intended to improve reliability and performance and enable the facility to respond more effectively to the flexibility requirements of Romania’s changing electricity market.

Iulius-Dan Plaveti, CEO of SPEEH Hidroelectrica, said the modernization will transform Râul Mare Retezat into a more reliable source of renewable electricity for western Romania.

He said the upgraded facility will also improve the provision of system services to the national power grid and contribute to strengthening Romania’s energy security.

Hidroelectrica is Romania’s leading electricity producer and a major provider of the system services required by the National Power System.

Its generating assets therefore play an important role not only in electricity production but also in supporting grid stability and the broader security of the country’s energy infrastructure.

ANDRITZ’s scope of supply covers the design, manufacture and delivery of the plant’s electromechanical equipment.

The package includes two 188 MW high-head Francis turbines, together providing the plant’s future 376 MW installed capacity.

ANDRITZ will also provide the associated generators, automation systems and auxiliary equipment required for operation of the modernized plant.

Installation of the supplied equipment will be carried out under ANDRITZ supervision.

The project combines replacement and modernization of major generating equipment with upgraded control and support systems, allowing the plant to operate more reliably and make greater use of its available hydraulic resources.

The two new high-head Francis units will form the core of the modernized generating system.

Francis turbines are commonly used in hydropower installations where water head and operating conditions require efficient conversion of hydraulic energy into mechanical power across a range of operating loads.

Alongside the turbine and generator replacement, updated automation systems will provide the plant with modern control capabilities intended to support efficient operation and greater flexibility.

The modernization is expected to improve Râul Mare Retezat’s contribution to electricity production while also strengthening its ability to provide system services needed by Romania’s national grid.

That flexibility is becoming increasingly important as power systems integrate larger volumes of variable renewable generation and require generating assets capable of responding to changing system conditions.

Hydropower plants can contribute to this requirement through dispatchable renewable generation and operational flexibility, supporting both electricity supply and system stability.

By restoring the plant’s ability to operate at its full capacity and simultaneously increasing installed capacity, the project is expected to make additional renewable generation available without requiring construction of an entirely new hydropower facility.

The refurbishment will also extend the operational capabilities of an existing strategic energy asset in western Romania.

The contract was signed by representatives of the project partners, including Dominik Fust, Managing Director of ANDRITZ Hydropower Germany; Daniela Iordanescu, Refurbishment Department Manager at Hidroelectrica; Bogdan Badea, who was CEO of Hidroelectrica at the time of signing; Michael Fink, Sales Manager at ANDRITZ Hydropower; and Rafael Luis Pulido Ortega, CEO of COBRA Instalaciones y Servicios SA.

The Râul Mare Retezat modernization project is scheduled for completion by 2031.

ANDRITZ GROUP
International technology group ANDRITZ provides advanced plants, equipment, services, and digital solutions for a wide range of industries, including pulp and paper, metals, hydropower, environmental, and others. Founded in 1852 and headquartered in Austria, the publicly listed group employs about 30,000 people at 280 locations in over 80 countries.

As a global leader in technology and innovation, ANDRITZ is committed to fostering progress that benefits customers, partners, employees, society, and the environment. The company’s growth is driven by sustainable solutions enabling the green transition, advanced digitalization for highest industrial performance, and comprehensive services that maximize the value of customers’ plants over their entire life cycle. ANDRITZ. FOR GROWTH THAT MATTERS.

ANDRITZ HYDROPOWER
ANDRITZ Hydropower is one of the world’s leading suppliers of electromechanical equipment and services for hydropower stations in the dynamically growing global renewable energy market. Based on 185 years of experience and a global installed capacity of 492 gigawatts, we offer innovative solutions for new and existing hydropower stations, from small hydropower to large-scale plants.

State-of-the-art digital solutions, comprehensive services for the operation and maintenance of entire hydropower plants, synchronous condenser systems for grid stability and turbo generators for the thermal industry complete the portfolio.

Media Contact:

Media Relations
press@press.andritz.com

SOURCE: ANDRITZ

Fortum Launches 2027 Savings Period Under Employee Share Savings Programme With Maximum Aggregate Savings of €7 Million

(IN BRIEF) Fortum’s Board of Directors has approved the launch of the 2027 savings period under its Employee Share Savings programme, which was established in 2019 to encourage employee share ownership and align employee and shareholder interests. Participants will invest part of their monthly salary in Fortum shares and may receive one matching share for every two savings shares purchased approximately three years after the start of the savings period. To qualify, employees must retain their purchased shares until the end of the holding period and remain employed by Fortum until that date. The holding period for the 2027 savings period ends on 28 February 2030. Programme terms remain unchanged from previous savings periods, and participation is open to Fortum Group employees where legally and practically feasible. Total savings under the 2027 period may reach a maximum of €7 million.

(PRESS RELEASE) ESPOO, 18-Sep-2026 — /EuropaWire/ — Fortum Corporation has announced that its Board of Directors has approved the launch of the 2027 savings period under the company’s Employee Share Savings (ESS) programme.

Fortum established the ESS programme in 2019, with the Board deciding separately each year whether to launch a new savings period. The programme is designed to encourage employees to invest in Fortum shares, maintain long-term ownership in the company and align employee interests more closely with those of shareholders.

Employees participating in the 2027 savings period will invest a portion of their monthly salary in Fortum shares.

Under the programme, participants may receive one matching share for every two savings shares purchased, with the matching shares granted as a gross reward approximately three years after the beginning of the relevant savings period.

Eligibility for the matching shares is subject to two principal conditions. Participants must retain the savings shares purchased under the programme until the end of the applicable holding period, and their employment with Fortum must not have ended before that date.

For the 2027 savings period, the holding period will end on 28 February 2030.

Fortum said the terms and conditions for the new savings period remain unchanged from those applied during earlier periods of the ESS programme.

Participation is generally available to employees throughout the Fortum Group, except in jurisdictions or other circumstances where local legislation or practical considerations make participation impracticable.

The total value of savings contributed by participants during the 2027 savings period may amount to a maximum of €7 million.

By providing matching shares after a multi-year holding period, the programme is structured to encourage employees to build and retain an ownership interest in Fortum over the longer term.

The ESS arrangement also links part of employees’ potential reward to the company’s shares, supporting Fortum’s objective of strengthening alignment between its workforce and shareholders.

The latest Board decision continues a programme that has been operated since 2019 through annual savings periods subject to separate approval.

Fortum
Fortum is a Nordic energy company. We generate and deliver reliable energy to our customers and the Nordic energy system while at the same time helping industries decarbonise their processes and grow. Our core operations comprise efficient and best-in-class low-carbon
power generation, customer services, and heating and cooling. Fortum’s power generation is already 99% from renewable or nuclear sources with one of the lowest specific CO2-emissions in Europe. We are guided by our ambitious SBTi-validated emission reduction targets on our way towards net-zero by 2040. For our ~4,500 employees, we commit to be a safe and inspiring workplace. Fortum’s share is listed on Nasdaq Helsinki. fortum.com

Media Contacts:

Ingela Ulfves, Vice President, Investor Relations and Financial Communications, tel. +358 40 515 1531

Rauno Tiihonen, Director, Investor Relations, tel. +358 10 453 6150

Jari Laitinen, Vice President, Performance and Rewards, tel. +358 40 660 2506

SOURCE: Fortum

Indra Group to Showcase Open Digital Signalling, TMS 3.0 and Intelligent Rail Infrastructure Technologies at InnoTrans 2026 in Berlin

(IN BRIEF) Indra Group will showcase a new generation of open digital signalling, rail traffic management and intelligent infrastructure technologies at InnoTrans 2026 in Berlin from 22 to 25 September. Its open signalling architecture is aligned with European EULYNX and ETCS specifications, using standardised interfaces to integrate technologies from different suppliers, support coexistence with existing analogue systems and reduce dependence on closed proprietary environments. Indra will also present TMS 3.0, the latest version of its railway traffic management platform, which introduces cloud-oriented, microservices-based architecture and supports progressively deployable rail management and SIL-2 safety capabilities. Real-time demonstrations connected to railway control centres will illustrate applications for automation and operational decision-making. Additional technologies will include smart railway gantries for real-time monitoring of trains and infrastructure and a new generation of ticket vending and recharging machines. Indra’s TMS technology is already operating in markets including Spain, Saudi Arabia and Lithuania, while the company says its wider mobility solutions have been deployed or are under development in more than 50 countries.

(PRESS RELEASE) MADRID, 18-Sep-2026 — /EuropaWire/ — Indra Group will present its latest railway technologies at InnoTrans 2026, taking place in Berlin from 22 to 25 September, with a focus on open digital signalling, advanced traffic management, intelligent infrastructure monitoring and passenger-service systems designed to support safer, more interoperable and increasingly automated rail networks.

The company will use the international railway trade fair to demonstrate technologies intended to accelerate digitalisation across the sector through open, interoperable and secure architectures aligned with emerging European standards and requirements.

Indra has been working on the modernisation of railway infrastructure for more than two decades, addressing growing demand for greater integration between systems, infrastructure operators and technology providers.

A central part of its InnoTrans 2026 presentation will be the company’s open digital signalling technology, which is designed to support a more automated, intelligent and interoperable railway environment.

The system is based on an open architecture aligned with the requirements of the European EULYNX initiative and specifications for the European Train Control System (ETCS).

By applying standardised interfaces, the technology is intended to facilitate integration between components and systems supplied by different manufacturers, reduce dependence on closed proprietary environments and allow railway infrastructure to evolve progressively as new technologies are introduced.

Indra said its approach enables new digital signalling technologies to coexist with existing analogue infrastructure, helping railway operators modernise networks incrementally rather than requiring wholesale replacement of established systems.

The architecture also supports the integration of third-party applications, allowing operators to introduce additional functionality without being restricted to a single proprietary technology environment.

At InnoTrans, Indra will present this signalling environment as part of a broader technology ecosystem that combines safety, cybersecurity and interoperability with an open approach to railway infrastructure development.

The company said these capabilities can improve asset management while increasing the resilience and flexibility of networks as operators respond to changing operational requirements and growing demand for rail capacity.

Indra will also introduce the latest evolution of its railway traffic management platform, TMS 3.0.

The new version is designed to provide railway operators with more agile, automated and efficient management of both traffic and operational processes.

TMS 3.0 provides operators with a unified view of railway operations, enabling them to coordinate traffic more effectively, optimise network capacity and support reductions in operating costs while maintaining demanding quality and safety standards.

For the first time, the platform incorporates cloud-oriented software architectures based on microservices.

This architecture is designed to enable new management and railway-safety functions to be introduced progressively, allowing operators to expand system capabilities with greater flexibility.

Indra said the new platform supports the deployment of safety-related functionality with SIL-2 capability, while maintaining the security and reliability required for railway operating environments.

During InnoTrans 2026, visitors will be able to see real-time demonstrations connected with railway control centres.

The demonstrations will illustrate how digitalisation, automation and integrated information can support faster and more accurate operational decision-making while improving the efficiency of traffic and network management.

Indra has an established international presence in railway traffic management and has deployed its TMS technology in countries including Spain, Saudi Arabia and Lithuania.

According to the company, customers in these markets have continued to renew their use of Indra technologies as they develop increasingly digital, efficient and safe railway operating models.

The company’s wider mobility portfolio extends beyond signalling and traffic management.

Indra develops technologies intended to improve safety, operational efficiency and passenger experience throughout the railway transport lifecycle and is continuing to invest in systems addressing digitalisation, automation and sustainability requirements across the sector.

Among the technologies being presented in Berlin will be new solutions for the protection and intelligent supervision of critical railway infrastructure.

These include smart railway gantries capable of monitoring the condition of trains and infrastructure in real time.

The monitoring technology is designed to give operators greater visibility into the condition of rolling stock and railway assets, supporting early identification of potential problems and more informed maintenance and operational decisions.

Indra will also showcase a new generation of ticket vending and recharging machines intended to simplify interactions between passengers and public transport systems.

The new equipment has been developed to provide faster, easier and more accessible purchasing and recharging processes as transport operators continue to modernise passenger-facing services.

Together, the signalling, traffic-management, infrastructure-monitoring and ticketing technologies form part of Indra’s broader strategy to provide solutions covering the complete railway ecosystem.

The company said the increasing digitalisation of rail infrastructure requires systems that can exchange information reliably across organisational and technology boundaries while maintaining high levels of operational safety and cybersecurity.

Its open signalling strategy is therefore designed to support multi-vendor railway environments in which infrastructure managers can integrate technologies from different suppliers using standard interfaces.

Indra sees this open model as an important element in avoiding long-term technological dependence on closed systems while giving operators greater flexibility when expanding, upgrading or replacing individual parts of their infrastructure.

The company’s participation at InnoTrans also highlights the growing role of software-defined and cloud-oriented technologies within rail operations.

Through microservices-based architectures, Indra intends to make it easier for railway operators to introduce new functionality progressively rather than relying on large, infrequent system replacements.

Combined with automation and real-time information from control centres and infrastructure-monitoring systems, these capabilities are intended to help rail operators manage increasingly complex networks and make more effective use of available capacity.

Indra has deployed or is developing mobility technologies across more than 50 countries worldwide, including markets in Europe, the Middle East, Asia and the Americas.

At InnoTrans 2026, the company will position its portfolio around the transition toward rail networks that are increasingly digital, interoperable, secure, automated and capable of integrating technologies from multiple suppliers.

About Indra Group

Indra Group (www.indracompany.com) is Spain’s benchmark multinational company and one of Europe’s leading companies in defense, aerospace and advanced technologies. It holds a leading position in the defense, space, air traffic management, mobility and transformative technologies businesses, through Minsait, and integrates its sovereign AI, cybersecurity and cyberdefense capabilities in IndraMind. Indra Group drives a safer and more connected future through innovative solutions, trusted relationships and the best talent. Sustainability is part of its strategy and culture, enabling the company to respond to current and future social and environmental challenges. At the end of the 2025 financial year, Indra Group reported revenues of €5.457 billion, had a local presence in 46 countries and commercial operations in more than 140 countries.

Media Contact:

Elsa Jiménez Blanco
ejimenezbl@indra.es
+34 669 82 93 19

SOURCE: Indra

Carlyle and CVC DIF Agree to Acquire European Remote Surveillance Provider BauWatch From Haniel to Support International Expansion

(IN BRIEF) Carlyle and CVC DIF have agreed to acquire BauWatch, a European provider of technology-enabled remote video surveillance solutions, from German investment company Haniel, which will retain a 10% minority stake. The transaction is subject to regulatory approvals and is expected to close in Q1 2027. Headquartered in Apeldoorn, the Netherlands, BauWatch provides AI-enabled remote monitoring and 24/7 alarm-response services for construction projects, power plants, substations, renewable-energy assets and other critical infrastructure. Since Haniel acquired the company in 2021, BauWatch has expanded into 12 European markets, grown to more than 15,000 active surveillance systems and completed over 50,000 projects. Revenue increased from €59 million to €153 million in 2025, accompanied by improving profitability. Carlyle will invest through its Carlyle Europe Partners platform, while CVC DIF will invest through its Value-Add IV fund. The new owners plan to support continued innovation, product development and international expansion, while Haniel said the transaction will also contribute to funding the continued development of its broader multi-asset investment strategy.

(PRESS RELEASE) LUXEMBOURG, 18-Sep-2026 — /EuropaWire/ — Global investment firm Carlyle and mid-market infrastructure investment manager CVC DIF have agreed to acquire BauWatch, a European provider of technology-enabled remote video surveillance services, from German family-owned investment company Haniel.

Under the terms of the transaction, Haniel will retain a 10% minority stake in BauWatch, maintaining an ongoing interest in the business following completion.

The acquisition remains subject to customary regulatory approvals and is expected to close in the first quarter of 2027.

Headquartered in Apeldoorn, the Netherlands, BauWatch provides remote security and monitoring solutions for construction sites, infrastructure assets and other locations requiring continuous surveillance.

Its platform combines remote video surveillance, artificial intelligence-enabled monitoring and 24/7 alarm-response services to protect sites including major construction projects, power plants, substations, renewable-energy installations and other critical assets.

Carlyle and CVC DIF said demand for technology-enabled physical security is increasing as companies and infrastructure operators across Europe place greater emphasis on resilience and the protection of key assets.

Remote monitoring systems can provide customers with scalable security coverage across multiple locations while combining automated detection technologies with continuous operational response.

Haniel acquired BauWatch in 2021 and has since worked with the company’s management team to expand the business geographically, strengthen its technology platform and build more scalable operating processes.

During Haniel’s ownership, BauWatch entered a number of major European markets and developed into a business operating across 12 European countries.

The company now manages more than 15,000 active surveillance systems and has completed more than 50,000 projects.

BauWatch also recorded substantial financial growth over the period. Revenue increased from €59 million at the time of Haniel’s acquisition to €153 million in 2025, alongside continued improvement in profitability.

Carlyle and CVC DIF plan to support BauWatch’s next stage of development through further investment in technology and innovation, expansion of its product portfolio and continued international growth.

The investors also intend to build on the company’s existing position in technology-enabled mobile security while supporting its expansion into additional markets and customer segments.

Carlyle’s equity investment will be made through the Carlyle Europe Partners platform, which focuses on European mid-market investment opportunities.

CVC DIF’s investment will come from its Value-Add IV fund, which targets mid-market infrastructure businesses with established competitive positions and opportunities for further growth, including through buy-and-build strategies.

Al Ghelani, CEO of BauWatch, said the company has developed into a European market leader during Haniel’s ownership and credited its employees and shareholders with helping establish a strong platform for further expansion.

He said BauWatch and its new investors share an ambition to strengthen the company’s capabilities, maintain its pace of growth and create additional value for both customers and employees.

Ghelani added that the company intends to build on the operational and commercial foundation developed over recent years as it enters its next phase with Carlyle and CVC DIF.

Joachim Drees, CEO of Haniel, described BauWatch as one of Haniel’s most successful investments in recent years and said the company had achieved the objectives established under Haniel’s strategic ownership.

He said Carlyle and CVC DIF provide the financial resources, international networks and sector expertise needed to support BauWatch’s next stage of global expansion.

Drees also said the transaction represents an important element of Haniel’s own strategic transformation.

Together with Haniel’s planned divestment of its Ceconomy stake, the BauWatch transaction is expected to contribute to the financial resources required to implement Haniel’s corporate strategy, including further development of its multi-asset investment portfolio.

Simon Pex, Managing Director at Carlyle, said BauWatch operates at the intersection of several long-term trends, including increasing security requirements across construction, infrastructure and renewable energy and the broader focus on improving physical resilience in Europe.

He highlighted BauWatch’s technology platform, product development and operational capabilities and said Carlyle plans to work with the management team and CVC DIF to reinforce the company’s market position and accelerate its international expansion.

Stefan Moosmann, Head of DACH at CVC DIF, said BauWatch combines several characteristics that CVC DIF seeks in infrastructure investments, including the provision of an important service, a scalable business platform and a high proportion of recurring revenue supported by an established asset base.

He said the company is positioned to benefit from long-term demand for mobile and technology-enabled security services and that CVC DIF intends to support management alongside Carlyle as BauWatch continues expanding internationally.

The transaction will mark the next stage in BauWatch’s development following five years of expansion under Haniel.

Its growth strategy has increasingly aligned physical surveillance equipment with software, remote monitoring and technology-driven alarm management, creating an integrated security model for customers operating geographically dispersed or temporary sites.

Construction projects represent a significant part of the company’s customer base, while demand from infrastructure and renewable-energy operators has expanded as those sectors seek greater protection of equipment, sites and installations.

Carlyle and CVC DIF plan to continue investing in this platform as security requirements evolve and customers increasingly adopt remote and digitally enabled alternatives to conventional site-based surveillance.

Haniel’s decision to retain a 10% shareholding will allow it to maintain exposure to BauWatch’s future development while transferring majority ownership to Carlyle and CVC DIF.

Subject to regulatory clearance and satisfaction of customary closing conditions, completion is expected during Q1 2027.

Media Contact:

Patrick Humphris
Managing Director, Head of Corporate Affairs
CVC
Tel: +44 204 576 9526
phumphris@cvc.com

SOURCE: CVC

Ridge Secures Investment from CVC to Support Continued Growth, Strategic M&A and Expansion of UK Built Environment Consultancy

(IN BRIEF) UK multidisciplinary built environment consultancy Ridge has secured investment from global private markets manager CVC, which is acquiring its stake from Horizon Capital while Ridge’s Equity Partners remain significant shareholders. Founded in 1946 and headquartered in Oxford, Ridge has expanded rapidly in recent years, growing revenue at an approximately 23% CAGR since 2022 and more than doubling its workforce from around 800 to approximately 1,650 people across 16 UK offices. Growth has been predominantly organic, supported by senior hires and new capabilities in defence and security, science, healthcare, education and infrastructure, while selective acquisitions have added expertise in data centres, motorsport tracks, masterplanning and project controls and expanded the business into Wales and South West England. Approximately 88% of Ridge’s revenues come from repeat clients. The partnership with CVC is intended to support further investment in people and client services, larger and more complex projects, continued organic expansion and strategic M&A. Ridge said its partner-led model will remain central to the business as it enters its next phase of development.

(PRESS RELEASE) LUXEMBOURG, 18-Sep-2026 — /EuropaWire/ — UK multidisciplinary built environment consultancy Ridge has secured investment from global private markets manager CVC, supporting the next stage of the company’s growth while Ridge’s Equity Partners remain significant shareholders in the business.

CVC is acquiring its stake from Horizon Capital, which has been an investment partner to Ridge since April 2023.

Founded in 1946 and headquartered in Oxford, Ridge provides multidisciplinary consulting services across the built environment, supporting clients throughout the full project lifecycle. Its capabilities extend from planning and advisory services through design and engineering to programme and project management.

The investment follows a period of substantial expansion for Ridge. Since 2022, the consultancy has grown revenues at a compound annual growth rate of approximately 23% and has more than doubled its workforce from around 800 employees to approximately 1,650 people.

Ridge now operates from 16 offices across the United Kingdom, having expanded its geographic presence and range of specialist services while retaining its partner-led operating model.

Much of the company’s expansion has been organic. Senior appointments have enabled Ridge to establish and grow capabilities across sectors including defence and security, science, healthcare, education and infrastructure, while existing teams have developed new technical services and expanded regional operations.

During this period, Ridge has worked on a broad portfolio of major assignments, including projects connected with Manchester’s skyline, international motorsport venues, the Northern Line extension and energy-efficiency upgrades for Marks & Spencer.

Long-term client relationships have remained a significant part of Ridge’s business model, with approximately 88% of revenues generated from repeat business.

Alongside its organic development, Ridge has used selective acquisitions to add specialist capabilities and broaden its geographic footprint.

These transactions have introduced expertise in areas including data centres, motorsport tracks, masterplanning and project controls and have extended Ridge’s operations into Wales and South West England.

Ridge said offices joining the business through acquisitions have subsequently developed into broader multidisciplinary practices, allowing the company to offer a wider range of services locally while drawing on capabilities across the wider organisation.

The partnership with CVC is expected to provide Ridge with additional resources to continue investing in its client offering, workforce and operational capacity.

Ridge intends to use that support to pursue further organic growth, undertake larger and increasingly complex projects and continue a programme of targeted strategic mergers and acquisitions.

The company said its existing partner-led model will remain central to the business following CVC’s investment.

Adrian O’Hickey, Senior Partner at Ridge, said the new investment reflects the achievements of Ridge’s employees and partners during a period in which the consultancy has doubled in size while maintaining its established operating culture.

He said the next stage of Ridge’s development is intended to build on the company’s existing model rather than fundamentally change it, with continued emphasis on client delivery, recruitment of specialist talent and expansion of the organisation’s capabilities.

O’Hickey added that CVC understands the model behind Ridge’s growth and can provide additional resources and international reach to support the consultancy’s continued development.

Dominic Murphy, Managing Partner at CVC, said CVC was pleased to partner with Ridge’s leadership and described the company as a differentiated business combining multidisciplinary capabilities with a strong regional presence and established client relationships.

He said CVC sees further opportunities for Ridge to continue expanding from its existing platform.

Udaibir Banga, Managing Director at CVC, highlighted the quality and ambition of Ridge’s management and wider team, together with the entrepreneurial culture and operating model developed within the consultancy.

He said CVC intends to work with Ridge to build further on those foundations.

Luke Kingston, Managing Partner at Horizon Capital, said Ridge had grown significantly during Horizon Capital’s approximately three-year partnership with the company while maintaining its focus on client delivery.

He thanked Ridge’s leadership and wider partnership for the collaboration and expressed support for the company as it begins its next stage of development.

The transaction marks a transition between Ridge’s institutional investment partners while maintaining significant ownership by the consultancy’s Equity Partners.

With CVC’s backing, Ridge plans to continue strengthening its multidisciplinary offering, regional network and specialist capabilities while pursuing both internal growth opportunities and selective acquisitions across the built environment sector.

Media Contact:

Patrick Humphris
Managing Director, Head of Corporate Affairs
CVC
Tel: +44 204 576 9526
phumphris@cvc.com

SOURCE: CVC

e-GEOS and iQPS Launch Multi-Year Strategic Partnership to Combine COSMO-SkyMed and QPS-SAR Data for Advanced Geospatial Intelligence

(IN BRIEF) e-GEOS and Institute for Q-shu Pioneers of Space Inc. (iQPS) have launched a multi-year strategic collaboration to develop SAR-based geospatial intelligence services for natural emergency management, mining and infrastructure monitoring. e-GEOS, owned 20% by the Italian Space Agency and 80% by Leonardo Group company Telespazio, will distribute data from iQPS’s QPS-SAR constellation on a non-exclusive basis, while iQPS will similarly distribute COSMO-SkyMed radar data. COSMO-SkyMed is operated for the Italian Space Agency and Italian Ministry of Defence, with e-GEOS serving as its exclusive commercial distributor. The companies will also integrate observations from both constellations to create value-added solutions benefiting from complementary orbital architectures, increased acquisition frequency, wider coverage and greater continuity of monitoring. e-GEOS CEO C. Milena A. Lerario said the collaboration supports a broader ecosystem approach to geoinformation, while iQPS CEO Shunsuke Onishi highlighted rapidly increasing international demand for real-time SAR data. The partnership is also expected to expand both companies’ international reach and commercial opportunities.

(PRESS RELEASE) ROME, 18-Sep-2026 — /EuropaWire/ — e-GEOS and Institute for Q-shu Pioneers of Space Inc. (iQPS) have launched a multi-year strategic collaboration to develop advanced synthetic aperture radar (SAR)-based geospatial intelligence solutions for governments, institutions and businesses worldwide.

e-GEOS, which is owned by the Italian Space Agency (20%) and Telespazio (80%), part of the Leonardo Group, will combine its Earth observation and geoinformation capabilities with iQPS’s growing SAR satellite constellation and data services.

The companies intend to develop services capable of rapidly providing information and analytical insights for operational applications including natural emergency management, mining activities and infrastructure monitoring.

The agreement was announced as the international space industry gathers for World Space Business Week, where developments in Earth observation, satellite data and advanced analytics are among the central themes under discussion.

The companies said their collaboration reflects the evolution of the Earth observation market toward systems that combine multiple satellite constellations, different datasets and analytical technologies to provide faster and more comprehensive intelligence.

Milena A. Lerario, CEO of e-GEOS, said the company increasingly views the future of geoinformation through an ecosystem model in which multiple sources of data, technologies and specialist expertise are integrated to create greater value for users.

She said combining e-GEOS and iQPS data and analytical capabilities will create a more connected Earth observation ecosystem that could subsequently be strengthened by advanced features from Leonardo’s proprietary Earth observation constellation.

Those capabilities include high-frequency revisit times, low-latency data delivery and onboard computing, which are intended to support faster and increasingly sophisticated Earth observation services.

Lerario said the combination of complementary technical expertise and a shared focus on innovation will enable the companies to develop more advanced analytics and services for customers facing increasingly complex operational requirements.

Shunsuke Onishi, President and Representative Director CEO of iQPS, said international demand for near-real-time SAR satellite data is increasing across applications including disaster management, security and infrastructure monitoring.

He said iQPS is responding by accelerating development of its high-revisit satellite constellation while expanding the commercial use of Earth observation data as essential information infrastructure.

Onishi described the partnership with e-GEOS as an important step in iQPS’s international expansion, highlighting e-GEOS’s global market presence and distribution network.

He said the collaboration is expected to broaden access to iQPS SAR data internationally while supporting the companies’ efforts to address complex operational and societal challenges through satellite-derived information.

As part of the agreement, e-GEOS will distribute data from the QPS-SAR constellation on a non-exclusive basis to selected users.

At the same time, iQPS will distribute COSMO-SkyMed radar data on a non-exclusive basis.

The COSMO-SkyMed constellation belongs to the Italian Space Agency and the Italian Ministry of Defence, with e-GEOS serving as its exclusive commercial distributor.

The reciprocal distribution arrangement is intended to broaden the market reach of both companies’ satellite data while giving customers access to complementary SAR capabilities.

The partnership goes beyond distribution and will also involve development of new value-added services that integrate observations from COSMO-SkyMed and QPS-SAR.

The companies said the orbital architectures of the two constellations are complementary, creating opportunities to increase acquisition frequency, improve continuity of monitoring and expand geographical coverage.

By combining data from multiple radar satellites, users could gain more frequent observations of locations of interest and reduce the time between successive acquisitions.

This is particularly relevant for operational applications in which conditions can change rapidly, including natural disasters, infrastructure events and industrial activities.

SAR technology is also useful for continuous monitoring because radar satellites can acquire information regardless of daylight conditions and under a range of atmospheric conditions.

The multi-mission model being developed by e-GEOS and iQPS is intended to provide customers with a more comprehensive Earth observation service than would be possible from either constellation operating alone.

For emergency-management applications, higher acquisition frequency can support more timely assessments and monitoring of changing conditions.

In infrastructure applications, repeated observations can contribute to ongoing surveillance and analysis of assets and surrounding areas.

Mining operations can similarly benefit from broader and more frequent satellite-based monitoring across geographically dispersed or difficult-to-access locations.

The collaboration will integrate these satellite observations with e-GEOS’s geospatial analytics and service capabilities, creating value-added information rather than relying solely on the delivery of raw imagery.

The companies expect the partnership to strengthen their international positions and create additional commercial opportunities across global markets as demand increases for timely, high-resolution and operationally relevant Earth observation intelligence.

For iQPS, the arrangement provides access to e-GEOS’s established international distribution capabilities and expertise in turning satellite information into operational services.

For e-GEOS, QPS-SAR expands the range of radar data that can be incorporated into multi-satellite solutions and complements existing access to COSMO-SkyMed.

The companies said the resulting multi-mission approach will improve their ability to respond to users whose requirements increasingly depend on a combination of rapid acquisition, continuity, broad geographical coverage and advanced analytics.

The collaboration also fits within a broader evolution of the commercial Earth observation industry toward interoperable constellations, analytics and increasingly automated delivery of geospatial intelligence.

By combining their respective satellite assets, distribution capabilities and analytical expertise, e-GEOS and iQPS aim to develop a more flexible SAR ecosystem capable of supporting operational decision-making across public and private-sector applications.

About e-GEOS

e-GEOS, an ASI (20%) / Telespazio (80%) company, is a leader in delivering applications and services through highly technological and innovative Geoinformation platforms based on Artificial Intelligence and cloud technology. e-GEOS offers a portfolio of application services, from data acquisition to analytical report generation, also thanks to its optical and radar capabilities and fast access to the superior monitoring capabilities of the first- and second-generation COSMO-SkyMed constellation of the Italian Space Agency and the Italian Ministry of Defence, of which e-GEOS is the exclusive distributor worldwide. e-GEOS manages the Matera Space Centre for the acquisition, storage and processing of multi-mission satellite data. The Centre is one of the stations of the Core Ground Segment of Copernicus and receives radar data acquired by Sentinel1 mission.

https://www.e-geos.it/en/

About Institute for Q-shu Pioneers of Space Inc. (iQPS)

Institute for Q-shu Pioneers of Space, Inc. (iQPS), a subsidiary of QPS Holdings (TSE: 464A), is a space technology company founded in Kyushu in 2005. The company develops and internally operates QPS-SAR, world-class small SAR satellites capable of capturing high-resolution imagery 24/7 in all weather conditions. Manufacturing is supported by the technological prowess of over 25 partner companies nationwide, primarily centered in northern Kyushu. Empowered by a patented deployable parabolic antenna that achieves 1/100 the cost and 1/20 the mass of conventional models, the iQPS fleet includes over 10 operational satellites, highlighted by the recent deployment of QPS-SAR-18. Accelerating toward a large-scale constellation of over 36 satellites by 2030, iQPS is revolutionizing earth observation to establish a global “Near-Real-Time Data Provision Service.” By achieving average 10-minute observation intervals, it provides critical infrastructure for disaster response and market intelligence worldwide.

Media Contacts:

Telespazio

Paolo Mazzetti | +39 335 6515994 | paolo.mazzetti@telespazio.com
Ivana Giannone | +39 337 1024608 | ivana.giannone@telespazio.com

e-GEOS 

Catia Rispoli | +39 337 1544348 | catia.rispoli@e-geos.it

iQPS 

Yuki Ariyoshi | +81 92 7513446 | press@i-qps.com

SOURCE: Telespazio

50Hertz Awards LanWin3 Offshore Converter Platform Contract to NSORe and Siemens Energy, Strengthening 2 GW Grid Infrastructure and Regional Manufacturing

(IN BRIEF) 50Hertz has signed a contract with NEPTUN SMULDERS Offshore Renewables for the construction and turnkey delivery of a 2 GW offshore converter platform for the LanWin3 North Sea grid connection project, with Siemens Energy remaining responsible for the high-voltage technology. The award follows the LanWin6 contract signed in June 2026 and brings the combined NSORe contract volume for the two converter platforms to approximately €2.5 billion, most of which is expected to support production and services in Mecklenburg-Western Pomerania. Major topside components will be manufactured at the NEPTUN shipyard in Rostock-Warnemünde, while Smulders will produce the steel jacket structure in Vlissingen, the Netherlands. The project includes system design, procurement, construction, installation and commissioning. LanWin3’s onshore converter will be located at Mühlenbeck near Schwerin and connected through the NordOstLink HVDC corridor and a multi-terminal hub in Heide. 50Hertz CEO Stefan Kapferer said the project will strengthen regional industrial capacity while supporting secure integration of offshore wind power into Germany’s electricity system.

(PRESS RELEASE) BERLIN, 18-Sep-2026 — /EuropaWire/ — 50Hertz and NEPTUN SMULDERS Offshore Renewables (NSORe) have completed contract negotiations for the construction and turnkey delivery of a 2 GW offshore converter platform for the LanWin3 North Sea grid connection project, clearing the way for another major offshore infrastructure programme involving production in Rostock-Warnemünde and Vlissingen.

The contract represents the second large-scale offshore converter platform project awarded by 50Hertz to NSORe within a matter of months. In June 2026, the transmission system operator awarded a billion-euro contract for the LanWin6 offshore grid connection system to the consortium of NSORe and Siemens Energy.

As with LanWin6, Siemens Energy will remain responsible for supplying the high-voltage technology and components for the LanWin3 project.

According to 50Hertz, the combined contract volume attributable to NSORe for the two offshore converter platforms amounts to approximately €2.5 billion, with the majority of expenditure expected to flow into production and services in Mecklenburg-Western Pomerania.

The latest award further strengthens Rostock-Warnemünde as a manufacturing centre for offshore energy infrastructure and expands the regional industrial value chain associated with Germany’s energy transition.

Stefan Kapferer, CEO of 50Hertz, said the LanWin3 and LanWin6 projects will create infrastructure needed to securely integrate large quantities of offshore wind electricity from the North Sea into Germany’s power system.

He said 2 GW converter platforms require strong industrial partners and resilient manufacturing capabilities and that Rostock-Warnemünde provides both.

Kapferer added that the second major contract will reinforce the regional value chain while supporting expansion of offshore grid infrastructure.

He also called for further development of Germany’s Offshore Wind Energy Act, arguing that additional planning certainty will be important for avoiding delays in future offshore wind farm construction.

Malte Poelmann and Dieter Weyns, Managing Directors of NSORe, welcomed the follow-up award and said the contract reflects the increasing importance of offshore energy infrastructure.

They said NSORe will combine the expertise and production capacities of its Rostock and Vlissingen sites to deliver both projects on schedule and to the required quality standards.

Under the LanWin3 contract, the project partners will be responsible for the complete implementation and turnkey delivery of the offshore converter facilities.

The scope covers overall system design, procurement of components, construction, installation onshore and offshore and final commissioning.

At the NEPTUN shipyard in Rostock-Warnemünde, major platform elements will be manufactured, including the topside, which forms the principal above-water structure and main building of the offshore converter platform.

Smulders will manufacture the steel substructure, known as the jacket, at its shipyard in Vlissingen, the Netherlands.

The division of work will combine German and Dutch manufacturing capabilities with Siemens Energy’s high-voltage technology to deliver the complete converter platform system.

NSORe is headquartered in Rostock and operates as a joint venture between NEPTUN WERFT, part of the MEYER WERFT Group, and Belgian engineering and construction company Smulders, which is a subsidiary of France’s Eiffage Group.

50Hertz had already commissioned Siemens Energy in 2024 to supply the high-voltage technology for LanWin3.

The latest contractual amendment changes the steel construction and offshore platform scope by transferring the corresponding manufacturing order to Germany and NSORe’s production structure.

LanWin3 will form part of a broader high-voltage direct-current transmission system intended to transport offshore wind energy from the North Sea into Germany’s inland electricity network.

The project’s onshore converter station will be located at the future grid connection point in Mühlenbeck near Schwerin.

The offshore and onshore converter stations will be connected through the NordOstLink (NOL) HVDC transmission corridor and a multi-terminal hub in Heide, Schleswig-Holstein.

High-voltage direct-current technology is designed for transporting large quantities of electricity efficiently over long distances, making it particularly important for connecting offshore wind generation located far from major centres of electricity consumption.

The 2 GW capacity of LanWin3 places the project among the next generation of large-scale offshore grid connections being developed to accommodate significantly higher volumes of renewable electricity.

Together, LanWin3 and LanWin6 are intended to strengthen the transmission infrastructure needed to bring offshore wind power into Germany’s energy system while supporting greater industrial activity in areas linked to platform construction, electrical equipment and offshore engineering.

The contracts also represent a substantial commitment to domestic manufacturing and regional supply chains.

By assigning major fabrication work to Rostock-Warnemünde and connecting it with production in Vlissingen and Siemens Energy’s high-voltage systems, 50Hertz is seeking to establish a resilient industrial structure capable of delivering increasingly complex offshore grid infrastructure.

The company said the new contract underscores both the growing scale of offshore transmission projects and the importance of maintaining sufficient manufacturing capacity as Germany expands offshore wind generation and associated electricity networks.

About 50Hertz
50Hertz operates the electricity transmission system in the north and east of Germany, which it expands as needed for the energy transition. Our extra high voltage grid has an electrical circuit length of more than
10,700 kilometres. The 50Hertz control area covers Brandenburg, Mecklenburg-Western Pomerania, Saxony, Saxony-Anhalt, and Thuringia, as well as the city states of Berlin and Hamburg. Within these regions, 50Hertz and its more than 2.500 employees ensure that 18 million people are supplied with electricity around the clock. 50Hertz is a forerunner in the field of secure integration of renewable energy. In our grid area, we want to integrate 100 percent renewable energies securely into the grid and system by 2032 – calculated over the year. In this way, we supply affordable energy for a strong economy. The shareholders of 50Hertz are the Belgian holding Elia Group (80 percent), which is listed on the stock exchange, and the KfW bank group with 20 percent. As a European TSO, 50Hertz is a member of the European Network of Transmission System Operators for Electricity (ENTSO-E).

Media Contacts:

50Hertz
Volker Gustedt
+49 151 5537 6345
volker.gustedt@50hertz.com

MEYER WERFT
David Hecker von Aschwege
+49 160 7039 123
david.hecker@meyerwerft.de

Frank Elsner, Frank Elsner Kommunikation
+49 170 48 15 181
frank.elsner@elsner-kommunikation.de

Smulders
Britt Weckx
+32 14 408 158
Britt.weckx@smulders.com

SOURCE: 50Hertz

With a symbolic ribbon-cutting ceremony, Rüdiger Rath, CEO of CANCOM, and Dr. Johann Bizer, Chairman of the Board of Dataport AöR, officially opened the CANCOM Service Factory Nord.

(IN BRIEF) CANCOM has opened a new 4,250-square-metre Service Factory Nord in Norderstedt near Hamburg, expanding its nationwide capacity for IT lifecycle services and large-scale workplace deployments. The facility combines logistics, device configuration, service coordination, operational planning and technical field-service management and includes 12 automated conveyor lines and around 2,800 storage slots. CANCOM expects the site to process up to 1,000 devices per day and configure as many as 488 devices simultaneously. Together with its existing Service Factory in Jettingen-Scheppach, the new location creates a north-south infrastructure for nationwide customer projects. One of its first major assignments is a contract to equip and support more than 100,000 IT workstations for Dataport, including device provision, configuration, service coordination and on-site support. CANCOM also plans to create up to 100 jobs in Norderstedt. CEO Rüdiger Rath said the expansion responds to growing demand for scalable lifecycle services, while Dataport Chairman Dr. Johann Bizer highlighted the facility’s role in supporting the continued digitalisation of public administration.

(PRESS RELEASE) MUNICH, 18-Sep-2026 — /EuropaWire/ — CANCOM has officially opened its new Service Factory Nord in Norderstedt, near Hamburg, expanding its nationwide infrastructure for IT lifecycle services and adding substantial capacity for logistics, device configuration, service coordination and technical support across northern Germany.

The new facility was formally inaugurated during a ceremony attended by around 400 customers, partners and representatives from business and politics. Rüdiger Rath, CEO of CANCOM, and Dr. Johann Bizer, Chairman of the Board of Dataport AöR, marked the opening with a symbolic ribbon-cutting ceremony.

The opening concludes the construction phase and moves the site into regular operation. Together with CANCOM’s existing Service Factory in Jettingen-Scheppach, the Norderstedt facility creates a north-south service structure designed to support large-scale workplace rollouts and IT lifecycle projects across Germany.

The approximately 4,250-square-metre Service Factory combines several stages of the IT device lifecycle within a single location, including logistics, hardware configuration, service coordination, operational planning and management of technical field services.

The facility incorporates 12 automated conveyor lines and approximately 2,800 logistics storage slots, allowing large volumes of IT end devices to be processed and prepared in parallel.

Once fully operational, CANCOM expects the Norderstedt site to handle up to 1,000 devices per day and configure as many as 488 end devices simultaneously.

The infrastructure is designed to support both major workplace deployments and recurring replacement or refresh programmes, enabling customers to manage large device fleets through standardised and scalable service processes.

By integrating logistics, configuration and field services, CANCOM aims to provide an end-to-end process extending from device preparation and staging through delivery, on-site installation and subsequent technical support.

One of the first major programmes using the new capacity will be CANCOM’s project for Dataport, under which the company will equip and support more than 100,000 IT workstations.

The contract, announced in spring 2026, is beginning in September and includes the provision and configuration of end-user devices as well as service coordination and on-site technical support.

Dataport provides digital infrastructure and services for public administration, and CANCOM said the scale of the project illustrates the importance of highly automated logistics and standardised lifecycle-management processes for large public-sector digitalisation programmes.

Dr. Johann Bizer, Chairman of the Board of Dataport AöR, said the new facility demonstrates the operational structures and professional processes required to reliably deploy and support modern IT workplaces on a large scale.

He said the Norderstedt Service Factory provides an important foundation for Dataport and CANCOM as they continue supporting the digitalisation of public administration.

The opening event also included presentations and panel discussions covering developments in workplace services, asset management, IT lifecycle services and the modern digital workplace.

CANCOM said the facility is intended not only to increase physical processing capacity but also to improve coordination between central logistics and technical teams working at customer locations.

The company is also expanding its regional workforce as part of the project.

CANCOM plans to create up to 100 new jobs in Norderstedt, including roles in logistics, device configuration, service coordination and technical field support.

Rüdiger Rath, CEO of CANCOM, said demand for IT lifecycle services remains high and continues to increase as organisations operate larger and more complex workplace environments.

He said the investment gives CANCOM additional capacity to deliver large customer projects efficiently and at scale while maintaining regional proximity.

Rath added that combining the Norderstedt facility with the company’s Jettingen-Scheppach operation establishes a high-capacity north-south infrastructure and represents an important step in the continued development of CANCOM’s services business.

The facility’s automated configuration and storage infrastructure is intended to enable large batches of laptops, desktops and other end-user equipment to be prepared according to customer specifications before deployment.

This can include hardware configuration, software installation, asset assignment, packaging, delivery coordination and preparation for installation by field-service teams.

Centralising these activities is designed to improve consistency while providing the capacity required for projects involving tens of thousands of devices across numerous locations.

The Dataport programme will provide an early large-scale use case for the new operating model, with more than 100,000 workplace systems requiring coordinated deployment and ongoing support.

CANCOM said the project also demonstrates how service factories can support digital transformation by combining high-volume device logistics with technical service delivery.

The Norderstedt opening strengthens CANCOM’s service footprint in northern Germany while increasing the company’s ability to support customers with nationwide workplace deployments, recurring refresh cycles and comprehensive lifecycle management.

About CANCOM

As a leading Digital Business Provider and AI-enabler, CANCOM leads companies, organizations and the public sector into the digital future. The range of services and solutions includes classic system house IT solutions as well as data-based digital solutions, managed services and cloud services. We accompany the digital evolution of our customers with passion and technology and support them in reducing the complexity of their IT and developing new business models. We offer a holistic portfolio for all IT and business requirements.

The CANCOM Group’s offering comprises innovative solutions in the areas of Artificial Intelligence, Security & Network, Datacenter & Cloud, IoT Solutions and Modern Workplace and includes services for the entire IT lifecycle – from the provision of IT infrastructures, planning and integration, to support, managed services and XaaS. Customers benefit from the extensive expertise with which their diverse requirements are translated into concrete industry-specific IT solutions to significantly promote their business success.

The more than 5,300 employees of the internationally active CANCOM Group with around 80 locations in the DACH region, Belgium, Slovakia, Romania and the Czech Republic as well as an efficient partner network ensure market presence and customer proximity. The CANCOM Group is managed by Rüdiger Rath (CEO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM generated annual revenue of around 1.7 billion euros in 2025. The Group parent company CANCOM SE is listed on the Frankfurt Stock Exchange in the TecDAX and SDAX (ISIN DE0005419105).

Media Contacts:

Tobias Fuchs
Director Corporate Communications
presse@cancom.de
+49 89 54054-5841

Silvia Ludwig
External Communications Manager
presse@cancom.de
+49 89 54054-5412

SOURCE: CANCOM