NWTN Inc. – Kuwait Financial Express http://www.kuwaitfinancialexpress.com Mon, 28 Nov 2022 11:30:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 NWTN UAE Electric Vehicle Assembly Facility to Be Completed in Q4 http://www.kuwaitfinancialexpress.com/nwtn-uae-electric-vehicle-assembly-facility-to-be-completed-in-q4/ Mon, 28 Nov 2022 11:30:00 +0000 http://www.kuwaitfinancialexpress.com/?p=306442 DUBAI, United Arab Emirates, Nov. 28, 2022 (GLOBE NEWSWIRE) — NWTN Inc. (Nasdaq: NWTN), an eco–conscious mobility technology company bringing passenger–centric green premium mobility solutions to the world, today announced that construction on its UAE electric vehicle assembly facility in Khalifa Industrial Zone Abu Dhabi (KEZAD) is on schedule and will be completed in Q4 of 2022.

NWTN signed a lease agreement with KEZAD Group for the facility, which measures approximately 270,000 square feet, in September of 2022 to establish NWTN's first EV assembly facility in Abu Dhabi. The facility will serve the growing demand for sustainable transport options in the Middle East and beyond, and will play an important role in promoting new energy mobility and sustainable energy transformation in the UAE and the Middle East.

Founded in 2016, NWTN is headquartered in the UAE and aims to integrate avant–garde design, life–style personalization, IoT connectivity, autonomous driving technology, and green energy eco–systems to its future mobility solutions.

NWTN plans to initially operate the facility for manufacturing, research and development, vehicle testing and logistics area. Since obtaining approval from KEZAD Group for the required modifications and the industrial license in October, NWTN has completed 80% of the equipment installation and tooling in the facility, including the robots used for the vision system and advanced driver assistance systems (ADAS) calibration. The full semi–knock down (SKD) management and operations team will be in place by the middle of December, 2022, and the facility will be fully operational by the end of this year.

The annual capacity of the facility will initially be 5,000–10,000 units for the semi–knock down electric vehicles to meet rapidly increasing demand for new energy vehicles and sustainable transport options in the UAE and in other nations in the Middle East and North Africa. In phase two, NWTN will introduce several new electric vehicle models and expand capacity to 50,000 units annually with an expected start date in the first quarter of 2024.

The development of NWTN's EV assembly facility has gained strong support from the UAE government and agencies, and is fully aligned with UAE's "Net Zero 2050" strategic initiative that plans to achieve net–zero emission by 2050 with investments of over 600 billion Dirhams (US$160 billion) in renewable energy and sustainable technologies. The completion and future expansion of NWTN's facility will kick off the long–term development of the local electric vehicle research and development, manufacturing, supply chain establishment, and further into innovations in energy generation, usage, transportation and storage in the region.

With increasing accessibility and affordability of sustainable energy supported by infrastructures such as NWTN's KEZAD plant, the UAE's transformation towards a sustainable and intelligent future will be significantly accelerated.

NWTN recently completed a merger with East Stone Acquisition Corporation, a publicly traded special purpose acquisition company (SPAC), and was listed on the NASDAQ exchange on November 14.

ABOUT NWTN

NWTN (Nasdaq: NWTN) is a pioneering green technology company with a mission to bring premium passenger–centric mobility and green energy solutions to the world. Headquartered in Dubai and with its manufacturing facilities in Abu Dhabi, UAE, NWTN aims to integrate avant–garde design, life–style personalization, IoT connectivity, autonomous driving technology, and green energy eco–systems to its future mobility solutions. Its core technology includes modular pure electric platforms, battery packing and management technology, a digital on–board connectivity system, continuously upgraded electric and electronic architecture as well as autonomous driving technology.

NWTN focuses on growth and development in the entire value chain of clean energy applications in the UAE and intends to expand to the Middle East, North Africa, and other Southeast Asian and European territories.

For further information please visit: https://www.nwtnmotors.com

For investor enquiries:
Michael Bowen
nwtnir@icrinc.com

For media enquiries:
Edmond Lococo
nwtnpr@icrinc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d68f3e37–78d4–48c9–a0ee–01ae72393b36


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East Stone Acquisition Corporation and NWTN Inc. Announce Shareholder Approval and Closing of Business Combination http://www.kuwaitfinancialexpress.com/east-stone-acquisition-corporation-and-nwtn-inc-announce-shareholder-approval-and-closing-of-business-combination/ Mon, 14 Nov 2022 13:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=305266 BURLINGTON, Mass. and DUBAI, UAE, Nov. 14, 2022 (GLOBE NEWSWIRE) — East Stone Acquisition Corporation (Nasdaq: ESSC) (“East Stone”), a publicly traded special purpose acquisition company, and NWTN Inc. (“NWTN”), an eco–conscious mobility technology company bringing passenger–centric green premium mobility solutions to the world, today announced that the business combination of East Stone and NWTN (the "Business Combination") was approved by shareholders at a Special Meeting on November 10, 2022, and the transaction closed November 11, 2022. The combined company will retain the NWTN name, and its Class B ordinary shares and warrants are expected to begin trading on the Nasdaq under the symbol “NWTN” on November 14, 2022.

NWTN's Chief Executive Officer, Executive Director and Chairman, Nan (Alan) Wu, said, "We are so pleased to announce this major milestone in our business development. This marks an important step forward in the strategic execution of our vision to bring passenger–centric green premium mobility solutions to the world. The NWTN team is committed to changing the automobile industry, and we look forward to the next chapter as a publicly traded company."

"NWTN is comprised of a driven team devoted to revolutionizing the industry through its green technology development and solutions. We believe that the funds generated by the business combination and related financing will greatly assist NWTN in executing on its vision and accelerate its expansion to reach global markets. We are pleased to close this transaction and look forward to continuing our work alongside the NWTN team," said Xiaoma (Sherman) Lu, Chief Executive Officer of East Stone.

TRANSACTION DETAILS

In connection with the Business Combination, NWTN will receive gross proceeds of $400 million US dollars in PIPE investment from institutional investors and strategic partners. Upon closing of the Business Combination, Xiaoma (Sherman) Lu, CEO and director of East Stone, and Michael Cashel, director of East Stone, have joined NWTN's Board of Directors.

ADVISORS

Ellenoff Grossman & Schole LLP served as legal advisor to East Stone. Linklaters LLP served as legal advisor to NWTN. I–Bankers served as financial advisor to East Stone and China Renaissance served as financial advisor to NWTN.

Additional information about the completed Business Combination will be provided in a Current Report on Form 8–K to be filed by East Stone and a Form 6–K to be filed by NWTN with the Securities and Exchange Commission and available at www.sec.gov.

ABOUT NWTN

NWTN is a pioneering green technology company with a mission to bring premium passenger–centric mobility and green energy solutions to the world. Headquartered in Dubai and with its manufacturing facilities in Abu Dhabi, UAE, NWTN aims to integrate avant–garde design, life–style personalization, IoT connectivity, autonomous driving technology, and green energy eco–systems to its future mobility solutions. Its core technology includes modular pure electric platforms, battery packing and management technology, a digital on–board connectivity system, continuously upgraded electric and electronic architecture as well as autonomous driving technology.

NWTN focuses on growth and development in the entire value chain of clean energy applications in the UAE and intends to expand to the Middle East, North Africa, and other Southeast Asian and European territories.

ABOUT EAST STONE

East Stone Acquisition Corporation (Nasdaq: ESSC) is a blank check company incorporated as a British Virgin Islands business company and incorporated for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities.

CAUTIONARY NOTE REGARDING FORWARD–LOOKING STATEMENTS

The information in this release includes “forward–looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward–looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “may,” “will,” “expect,” “continue,” “should,” “would,” “anticipate,” “believe,” “seek,” “target,” “predict,” “potential,” “seem,” “future,” “outlook” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward–looking. These forward–looking statements include, but are not limited to, (1) references with respect to the anticipated benefits of the Business Combination and related PIPE investment (the "Transactions") and the projected future financial performance of East Stone and ICONIQ Holding Limited's (the “Company”) operating companies following the Transactions; (2) changes in the market for the Company's products and services and expansion plans and opportunities; (3) the sources and uses of cash of the Transactions; (4) the projected technological developments of the Company and its competitors; and (5) anticipated short– and long–term customer benefits. These statements are based on various assumptions, whether or not identified in this release, and on the current expectations of the Company's and East Stone's management and are not predictions of actual performance. These forward–looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company and East Stone. These forward–looking statements are subject to a number of risks and uncertainties, including the risk that the Transactions disrupt current plans and operations as a result of the consummation of the Transactions described herein; the inability to recognize the anticipated benefits of the Transactions; the ability to maintain the listing of NWTN's securities on The Nasdaq Stock Market following the Transactions, including having the requisite number of shareholders; costs related to the Transactions; changes in domestic and foreign business, market, financial, political and legal conditions; the Company's ability to successfully and timely develop, manufacture, sell and expand its technology and products, including implement its growth strategy; the Company's ability to adequately manage any supply chain risks, including the purchase of a sufficient supply of critical components incorporated into its product offerings; risks relating to the Company's operations and business, including information technology and cybersecurity risks, failure to adequately forecast supply and demand, loss of key customers and deterioration in relationships between the Company and its employees; the Company's ability to successfully collaborate with business partners; demand for the Company's current and future offerings; risks that orders that have been placed for the Company's products are cancelled or modified; risks related to increased competition; risks relating to potential disruption in the transportation and shipping infrastructure, including trade policies and export controls; risks that the Company is unable to secure or protect its intellectual property; risks of product liability or regulatory lawsuits relating to the Company's products and services; risks that the post–combination company experiences difficulties managing its growth and expanding operations; the uncertain effects of the COVID–19 pandemic and certain geopolitical developments; the outcome of any legal proceedings that may be instituted against the Company, East Stone or NWTN or other following consummation of the Transactions and transactions contemplated thereby; the ability of the Company to execute its business model, including market acceptance of its planned products and services and achieving sufficient production volumes at acceptable quality levels and prices; technological improvements by the Company's peers and competitors; and those risk factors discussed in documents of NWTN and East Stone filed, or to be filed, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward–looking statements. There may be additional risks that neither East Stone nor the Company presently know or that East Stone and the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward–looking statements. In addition, forward–looking statements reflect East Stone's and the Company's expectations, plans or forecasts of future events and views as of the date of this release. East Stone and the Company anticipate that subsequent events and developments will cause East Stone's and the Company's assessments to change. However, while East Stone and the Company may elect to update these forward–looking statements at some point in the future, East Stone and the Company specifically disclaim any obligation to do so. Readers are referred to the most recent reports filed with the SEC by East Stone and NWTN. Readers are cautioned not to place undue reliance upon any forward–looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward–looking statements, whether as a result of new information, future events or otherwise.

Contact:
East Stone Acquisition Corporation
Xiaoma (Sherman) Lu
2 Burlington Woods Drive, Suite 100
Burlington, MA 01803
sherman@estonecapital.com

For investor enquiries:
Michael Bowen
nwtnir@icrinc.com

For media enquiries:
Edmond Lococo
nwtnpr@icrinc.com


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Emerging technology gives first ever global view of hidden vessels http://www.kuwaitfinancialexpress.com/emerging-technology-gives-first-ever-global-view-of-hidden-vessels/ Wed, 08 Jun 2022 04:01:00 +0000 http://www.kuwaitfinancialexpress.com/?p=305336 Washington, D.C., June 08, 2022 (GLOBE NEWSWIRE) — Global Fishing Watch has developed and publicly released the first ever global map of previously undetected dark fleets, or vessels that do not broadcast their location or appear in public monitoring systems.

Powered by satellite radar imagery and machine learning, the map layer is updated daily within the main Global Fishing Watch map application. The portal is available for free to anyone in the world with an internet connection, helping arm authorities, researchers and the public alike with the power to monitor vessel activity in all coastal waters, identify dark fleet patterns and build the necessary understanding to quantify threats to the ocean. The user–friendly new map layer helps create equitable access to marine–related data in time for World Ocean Day on June 8.

The lack of information pertaining to how and where vessels are fishing has clouded our understanding of the true global footprint of fishing activity. This makes meaningful change difficult. To see these impacts, satellite radar technology, known as synthetic aperture radar (SAR), functions day and night in all types of weather and can generate imagery despite cloud cover or storm systems, resulting in detection capabilities that are significantly advanced over other satellite–mounted sensors.

"It is surprising how little we have known to date about the true scale of human activity on the water," said David Kroodsma, director of research and innovation at Global Fishing Watch. "If you combine vessels that intentionally shut off their signal with the significant number of boats that don't make their whereabouts known in public systems at all, you end up with gaps in data, monitoring and accountability. We are using satellite radar imagery to reduce that information gap and put our findings at the fingertips of those who want to ensure our ocean is managed equitably and sustainably."

The new global map layer draws from a massive data–processing pipeline and uses machine learning to crunch petabytes, or millions of gigabytes, of radar imagery taken by the European Space Agency's Sentinel–1 satellites. By analyzing the entire archive of Sentinel–1 radar imagery, Global Fishing Watch has made 20 million detections of sea–going vessels greater than approximately 10 meters in length""and matched these detections to 100 billion GPS points from vessels broadcasting their position on the automatic identification system. This matching differentiates vessels that broadcast their position from those that remain dark in public monitoring systems, resulting in more comprehensive views of vessel movements across the global ocean. This information can help authorities pinpoint areas with suspicious activity and identify vessel patterns that may indicate illegal activity or previously unquantified fishing pressures.

Global Fishing Watch used satellite radar and optical imagery to reveal around 900 vessels of Chinese origin fishing illegally in North Korean waters in violation of United Nations sanctions""the largest known case of illegal fishing by an industrial fleet operating in another nation's waters. Global Fishing Watch has since improved and expanded its use of satellite radar to study previously unseen fishing activity near marine protected areas in the Mediterranean Sea and hotspots of previously hidden activity in coastal waters around Africa. This emerging method of "seeing" vessels is revealing that the ocean is far busier than conventional monitoring systems show.

"While there are often legitimate reasons for not broadcasting a vessel's location""not all governments require it""illegal operators will often turn off their signals to conceal their activity," added Kroodsma. "The use of satellite radar to detect and map previously hidden and potentially illegal or harmful activity has opened a new realm of possibilities for remote sensing and big tech's battle for the environment."

Amplifying the potential of satellite radar technology, Global Fishing Watch partnered with the Defense Innovation Unit in July 2021 to host the xView3 competition. The challenge invited machine learning developers from all over the world to create and submit computer algorithms to help detect dark vessels, drawing 1,900 registrants from 67 countries. Global Fishing Watch is using the winning entries announced earlier this year to refine and advance dark vessel detection methods at global scale, and expects to be able to shed light on many human activities on the ocean in the near future.

"By seeing and characterizing the activity of these expansive dark fleets, we can begin to better understand and quantify not just illegal fishing but a great deal of human activity that is impacting our marine environment," said Paul Woods, chief innovation officer at Global Fishing Watch. "These are exciting times when it comes to open, accessible data that anyone can use for free to understand and advocate for the fragile marine areas they care about most."

About satellite radar imagery: Satellite radar is able to overcome limitations of other satellite–based monitoring systems with its ability to see through rain, darkness and cloud cover. Radar can detect at–sea vessels and structures in any weather conditions and its imaging capabilities make it one of the most powerful tools of remote sensing. Satellite radar is an active sensor that shoots microwaves to the earth surface and measures the amplitude and phase of the signals that are reflected back from objects on the ground and water, known as backscatter. The images formed from this backscatter contain rich information about size, orientation, composition, condition and texture of the features on the water. These imaging systems hold an advantage over passive satellite sensors, such as electro–optical imagery, which is similar to taking a picture with a camera and relies on sunlight and/or the infrared radiation emitted by objects on the ground. This latter method can be confounded by cloud cover, haze, weather events, and seasonal darkness at high latitudes. Satellite radar by comparison has proven to be the most consistent option for detecting vessels at sea.

Global Fishing Watch is an international nonprofit organization dedicated to advancing ocean governance through increased transparency of human activity at sea. By creating and publicly sharing map visualizations, data and analysis tools, we aim to enable scientific research and transform the way our ocean is managed. We believe human activity at sea should be public knowledge in order to safeguard the global ocean for the common good of all.

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D’Addario Designates June 6, 2022, as #WorldStringChangeDay http://www.kuwaitfinancialexpress.com/daddario-designates-june-6-2022-as-worldstringchangeday/ Wed, 01 Jun 2022 14:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=305583 FARMINGDALE, N.Y., June 01, 2022 (GLOBE NEWSWIRE) — D'Addario, the world's premier guitar string maker, is proud to announce the inaugural celebration of #WorldStringChangeDay on Monday, June 6, 2022.

As the world leader in guitar string innovation and quality, D'Addario is inviting musicians around the globe to celebrate the ritual and reward of caring for their instrument with a fresh set of strings.

"There's nothing better than the feel and tone of fresh strings," says acclaimed Brazilian Guitarist and Technician Lari Basilio. "It makes the playability smoother, the tone more vibrant, and inspires you again!"

Players on social media will be encouraged to show off how their instrument looks, plays, and sounds with fresh strings and dive into their own preferences and string–changing techniques.

Throughout the week leading up to #WorldStringChangeDay, Guitarists, Bassists, Ukulele, and Mandolin players across D'Addario's worldwide artist roster, like Herman Li, Evan Taucher, Lari Basilio, JB Brubaker, Casper Esman, Mark Tremonti, and more will be sharing content around the importance of changing strings and maintaining your instrument.

“D'Addario strings have always been my go–to,” says Grammy–Nominated guitarist Michael Kiwanuka. “There's just something about them that makes my guitar sound and feel the way it should. They're the first step to achieving a great tone. With a fresh set of strings, I'm always inspired to pick up my guitar and play.”

As part of the new holiday, D'Addario will be hosting a giveaway via social media where players can post a story of them changing their strings for a chance to win a set of strings of their choice.

Musicians are encouraged to post on their social media pages using #WorldStringChangeDay to be a part of the conversation and have a chance to have their posts shared by D'Addario & Co.

D'Addario's history of manufacturing guitar strings dates back to the 1600s in Salle, Italy. As part of their commitment to vertical integration, D'Addario manufactures more than 700,000 strings a day in Farmingdale, New York, made possible by their own in–house wire mill.

To learn more about how you can get involved, please visit: https://ddar.io/WSCD.PR

D'Addario & Company, Inc.

D'Addario is the world's largest manufacturer of musical instrument accessories, marketed under several product brands: D'Addario Fretted, D'Addario Orchestral, D'Addario Woodwinds, Promark Drumsticks, Evans Drumheads, and Puresound Snare Wires. A family–owned and operated business with roots dating back to the 17th century, D'Addario now has over 1,100 employees worldwide, and manufactures 95% of its products in the U.S. while utilizing Toyota's Lean manufacturing principles. D'Addario musical accessories are distributed in 120 countries, serve more than 3,300 U.S. retailers, all major e–commerce sites, and are the preferred choice of musicians worldwide such as, Keith Urban, Zac Brown, Brandi Carlile, Dave Matthews, Gary Clark Jr., Chris Thile, Ry Cooder, Joe Satriani, Julia Fischer, Anderson .Paak, Kacey Musgraves and more.

The D'Addario Foundation believes in the power of music to unlock creativity, boost self–confidence, and enhance academics. D'Addario also reinforces its role as a social and environmental leader with initiatives such as Playback and PlayPlantPreserve.

Media Contact – D'Addario & Co, Inc.
Natalie Morrison (natalie.morrison@daddario.com)
https://www.daddario.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/94e60972–3b85–46fd–aa13–11bf42c8927d


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Late-breaking Results Show Efficacy for CCM in Patients With HFpEF http://www.kuwaitfinancialexpress.com/late-breaking-results-show-efficacy-for-ccm-in-patients-with-hfpef/ Mon, 23 May 2022 14:17:39 +0000 http://www.kuwaitfinancialexpress.com/?p=305474 MADRID and MARLTON, N.J., May 23, 2022 (GLOBE NEWSWIRE) — Impulse Dynamics, a global medical device company dedicated to improving the lives of people with heart failure (HF), announced today a late–breaking presentation of results from the CCM–HFpEF Piloty Study, which is the largest clinical trial to date studying the effects of the company's proprietary CCM therapy to treat HF with preserved ejection fraction (HFpEF). The results presented "" including a substantial 18 point improvement in the Kansas City Cardiomyopathy Questionnaire (KCCQ) quality of life score "" indicate that, for patients with heart failure and left ventricular ejection fraction (LVEF) 50%, CCM therapy not only offered meaningful improvement in quality of life but also substantially decreased hospitalizations versus the patient's experience prior to the Optimizer implant. The results were presented at the European Society of Cardiology's Heart Failure 2022 Congress.

Patients with HFpEF suffer from debilitating symptoms and have very few therapeutic options. This patient population is a similar size as the one with reduced ejection fraction and has been shown to have similar struggles with quality of life, hospitalizations, and mortality.

Cecilia Linde, MD, Professor and Consultant in Cardiology at the Heart and Vascular Theme of Karolinska University Hospital and the Karolinska Institute in Stockholm, Sweden, who was the co–principal investigator for this investigation, said, "The CCM–HFpEF Pilot Study was conducted to explore the hypothesis that CCM therapy might benefit patients with HFpEF. Our hypothesis was based on evidence of greater benefits in CCM HFrEF studies in those with higher LVEF range and from case reports of HFpEF patients. In our CCM–HFpEF–Pilot Study, we found significant benefits from CCM therapy in patients with preserved LVEF, supporting prior findings. I look forward to following the progress of the recently begun pivotal AIM HIGHer trial to continue this journey further."

Dr. Ishu Rao, Medical Director for Impulse Dynamics, welcomed these results because they confirm the potential for positive results in the company's recently initiated AIM HIGHer trial. "We are also excited to announce that enrollment is well underway for this landmark IDE–approved, multicenter, randomized, and blinded pivotal trial designed not only to confirm Dr. Linde's groundbreaking work presented today but to go further yet by providing the first long term morbidity and mortality results for a modern Optimizer CCM device. While Dr. Linde specifically studied patients with EFs 50%, in AIM HIGHer, we are examining the efficacy of CCM therapy in 1,500 patients with EFs between 40% and 60%. This represents a large cohort of patients who currently have minimal treatment options and are clamoring for help. If AIM HIGHer's results are consistent with Dr. Linde's findings, we may finally begin to close the significant gap in care that exists for millions of patients afflicted with HF and higher EF."

HF affects more than 64 million people worldwide and leads to dramatic declines in a patient's quality of life. Patients are often classified by a measure of cardiac function known as the ejection fraction (EF), which describes the percentage of blood pumped out of the left ventricle with each heartbeat. CCM therapy is currently indicated in Europe for patients that have an EF below 50% and has been proven to reduce hospitalizations. However, HF patients with higher EF have had few therapeutic options thus far to alleviate their symptoms and treat their disease.

The purpose of the AIM HIGHer trial "" the largest randomized, sham–controlled, device–based interventional heart failure trial "" is to further assess the potential of CCM to improve performance and reduce cardiovascular morbidity and mortality for these patients. CCM therapy for HFpEF has already received the FDA's breakthrough device designation. The Breakthrough Devices Program is a voluntary program for certain medical devices that provide more effective treatment or diagnosis of life–threatening or irreversibly debilitating diseases or conditions. The goal of the Breakthrough Devices Program is to provide patients and health care providers with timely access to these medical devices by speeding up their development, assessment, and review while preserving the statutory standards consistent with the Agency's mission to protect and promote public health.

The Optimizer Smart Mini delivers CCM therapy which consists of precisely timed electrical pulses sent to the heart. These signals are designed to improve the heart's ability to function properly, allowing more oxygen–rich blood to be pushed out through the body.

About Impulse Dynamics

Impulse Dynamics, based in Marlton, NJ, is dedicated to helping healthcare providers enhance the lives of people with heart failure by transforming how the condition is treated. The company has pioneered CCM therapy, which is delivered by the company's Optimizer Smart Mini, an FDA–approved treatment verified to improve the quality of life for certain heart failure patients. CCM therapy is a safe, effective, and minimally invasive treatment option for many heart failure patients who otherwise have few effective options available to them. To learn more, visit www.ImpulseDynamics.com, or follow the company on LinkedIn, Twitter, and Facebook.

Forward–looking Statements

This press release contains forward–looking statements. All statements other than statements of historical facts contained in this press release are forward–looking statements. In some cases, you can identify forward–looking statements by terms such as ""may,'' ""will,'' ""should,'' ""expect,'' ""plan,'' ""anticipate,'' ""could,'' ""intend,'' ""target,'' ""project,'' ""contemplate,'' ""believe,'' ""estimate,'' ""predict,'' ""potential'' or ""continue'' or the negative of these terms or other similar expressions, although not all forward–looking statements contain these words. Forward–looking statements include, but are not limited to, statements concerning: potential benefits of CCM therapy and the ability for CCM therapy and our products to fill a significant unmet medical need for patients with heart failure; and the short–term and long–term benefits of the Optimizer Smart Mini and CCM therapy in patients with heart failure, as well as to the physicians treating those patients. These forward–looking statements are based on management's current expectations and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward–looking statements. Other important factors that could cause actual results, performance or achievements to differ materially from those contemplated in this press release include, without limitation: the Company's future research and development costs, capital requirements and the Company's needs for additional financing; commercial success and market acceptance of CCM therapy; the Company's ability to achieve and maintain adequate levels of coverage or reimbursement for Optimizer Smart and Optimizer Smart Mini systems or any future products the Company may seek to commercialize; competitive companies and technologies in the industry; the Company's ability to expand its indications and develop and commercialize additional products and enhancements to its current products; the Company's business model and strategic plans for its products, technologies and business, including its implementation thereof; the Company's ability to expand, manage and maintain its direct sales and marketing organization; the Company's ability to commercialize or obtain regulatory approvals for CCM therapy and its products, or the effect of delays in commercializing or obtaining regulatory approvals; FDA or other U.S. or foreign regulatory actions affecting us or the healthcare industry generally, including healthcare reform measures in the United States and international markets; the timing or likelihood of regulatory filings and approvals; and the Company's ability to establish and maintain intellectual property protection for CCM therapy and products or avoid claims of infringement. The Company does not undertake any obligation to update forward–looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward–looking statements contained herein. These forward–looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

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First-Ever Global Study of Diversity in Graduate Management Education Sheds Light on Gaps in Race and Gender http://www.kuwaitfinancialexpress.com/first-ever-global-study-of-diversity-in-graduate-management-education-sheds-light-on-gaps-in-race-and-gender/ Tue, 26 Oct 2021 13:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=305373 RESTON, Va., Oct. 26, 2021 (GLOBE NEWSWIRE) — The Graduate Management Admission Council (GMAC), a global association of leading graduate business schools, today released a special report, "The Global Diversity of Talent "" Attainment and Representation," a first reference guide of its kind to better understand representation for graduate management education (GME) degree attainment worldwide. Understanding that education systems across the globe experienced disruption due to the pandemic, GMAC turned to its leading research capability as universities sought to adapt with a renewed attention to issues of student access and equity, as well as diversity and representation in tertiary educational attainment. The report provides a global overview, seven regional outlooks, and separate reports for 69 locations or countries with an estimated 25,000 or more people in the student–aged population of 20 to 34 who have attained a master's degree in the subject of business, administration, or law. In addition to a separate appendix that reviews data on 111 other countries, it also examines the representation of women globally and underrepresented groups in the United States.

"At GMAC, we recognize that a diverse student body in gender, race and background lifts us all as it creates a richer student experience and increases sensitivity to the issues that affect others," said Sangeet Chowfla, president and CEO of GMAC. "This report "" the first global state of the industry view about diversity in graduate management education "" is intended not only to serve as an informative guide, but also as a base to target outreach and advocate for the value of graduate business degrees to underrepresented populations around the globe."

Key Findings

Women struggle to be represented at the graduate business level, falling behind the most in Europe

Globally, more women than men choose their undergraduate study in the fields of business, administration, and law. 26.4 percent of bachelor's degrees earned by females are in these fields, slightly higher than for men (24.6%). At the master's level, however, men (33.7%) are more likely to study in business, administration, and law than women (29.4%). Data suggests that women have shown broader interest when pursuing a master's degree, with education and health and welfare two other popular disciplines besides business or law schools.

Furthermore, women in Europe are estimated to hold only 38.4 percent of graduate business degrees in the region, notably lower than the global average (44.8%) and behind East Asia and the Pacific where women are a majority (51.7%) of the region's graduate business degree–holders. When compared across all regions, Europe has the largest share of those aged 30–34 in the GME pipeline at 41.8% but the smallest share of the GME pipeline aged 20–24 at only 19.8 %, suggesting that many women in Europe choose to return to business school later in life.

African American graduates outpace their white counterparts, driven by their overrepresentation in U.S. for–profit programs

The proportions of graduate management degree–holders relative to the student–aged population, or the GME participation rate, differs among the seven U.S. race/ethnicity groups studied in the report: American Indian or Alaska Native, Asian American, Black or African American, Hispanic American, Native Hawaiian or Other Pacific Islander, Other/Two or more races, and Whites. Although a common perception is that African Americans are underrepresented in GME programs, they demonstrate a 3.0% GME participation rate, outranking their white counterparts at 2.5%.

"African Americans are interestingly overrepresented in graduate management education relative to their population size when compared with other groups, albeit slightly," said Sabrina White, vice president of school and industry engagement at GMAC. "According to a previous GMAC study, African Americans accounted for 37 percent of for–profit GME degrees conferred in 2015–2016. Their enrollment in for–profit institutions outpacing that in traditional universities may have contributed to their overrepresentation in GME."

Most business degree holders come from Asia while Latin America enjoys highest business concentration among graduate degrees

Among the seven regions studied, the largest pool of student aged graduate business talent falls in East Asia and the Pacific, which is also the largest source of bachelor's degree–holders in the fields of business, administration, and law. While China and India, the two "Asian giants," contribute the most to both the graduate and undergraduate levels of business school students, the U.S. impresses with its substantial share at third in both categories. Pakistan and Turkey are two other notable inclusions in the top 10 sources, with business graduates accounting for 28 percent and 40 percent respectively of the country's total bachelor's degree–holders.

Globally, of the more than 61 million people understood to have attained a master's degree, approximately 24 percent have earned GME degrees. By region, the highest business concentration among all master's degree–holders is seen in Latin America (33.1%), the Middle East (27.6%), and East Asia and the Pacific (26.6%). In addition, two countries in the Latin America region have greater than 60 percent females within the student–age population of 20 to 34 who are assumed to have attained a master's degree in the subject of business, administration, or law: Colombia (65.6%) and Dominican Republic (64.5%).

About the Report

To establish the foundation of this groundbreaking effort, GMAC leveraged the latest global data resources from the 2018 dataset of U.S. Census Bureau International Database, The World Bank, UNESCO, UNECE, and OECD, to provide baseline for studying the state of diversity within graduate management education today. Supplemental material of country and regional descriptions as well as available 2020/2021 international rankings indices were included for present context. More details of the full report, and other research series produced by GMAC, are available on gmac.com.

About GMAC

The Graduate Management Admission Council (GMAC) is a mission–driven association of leading graduate business schools worldwide. Founded in 1953, GMAC creates solutions and experiences that enable business schools and candidates to better discover, evaluate, and connect with each other.

GMAC provides world–class research, industry conferences, recruiting tools, and assessments for the graduate management education industry, as well as tools, resources, events, and services that help guide candidates through their higher education journey. Owned and administered by GMAC, the Graduate Management Admission Test (GMAT) exam is the most widely used graduate business school assessment. GMAC also owns and administers the NMAT by GMAC (NMAT) exam and the Executive Assessment (EA).

More than 12 million prospective students a year trust GMAC's websites, including mba.com, to learn about MBA and business master's programs, connect with schools around the world, prepare and register for exams and get advice on successfully applying to MBA and business master's programs. BusinessBecause and The MBA Tour are subsidiaries of GMAC, a global organization with offices in China, India, the United Kingdom, and the United States.

To learn more about our work, please visit www.gmac.com

Media Contact:

Teresa Hsu
Senior Manager, Media Relations
202–390–4180 (mobile)
thsu@gmac.com


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FXCM August Single Share & Stock Baskets Report http://www.kuwaitfinancialexpress.com/fxcm-august-single-share-stock-baskets-report/ Tue, 28 Sep 2021 08:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=305667 JOHANNESBURG, South Africa, Sept. 28, 2021 (GLOBE NEWSWIRE) — FXCM Group, LLC ("FXCM Group' or "FXCM'), the leading international provider of online foreign exchange trading, CFD trading, cryptocurrencies and related services, is today releasing its data of most popular instruments for the month of August in its Single Share CFD and proprietary Stock Basket product lines.

FXCM offers fractional, single share CFD trading with no commission fees* on leading companies from the US, UK, France, Germany, Hong Kong and, following its July launch, Australia. FXCM's stock basket products combine the shares of multiple companies from one sector into a single tradeable instrument, and the company currently boasts a portfolio of 14 stock baskets. The list of companies and weightings is available on FXCM's stock basket website: https://www.fxcm.com/za/stock–baskets/

For the first time since offering stocks, a non–US share was the most traded instrument at FXCM with Hong Kong based Tencent Holdings slightly pipping Tesla to top the FXCM rankings. It was a big month for HK based instruments on the Basket side too with ATMX (Big Chine Tech), the Chinese equivalent of FAANG storming its way to number 4 on the Basket rankings, eclipsing its previous best place by 5 spots along with recording its highest monthly volume since it was first launch in April.

The remaining list saw little major movement among the top traded shares and baskets, with the Big US Tech (FAANG) basket maintaining its spot as the highest traded basket, although one of its index components Facebook (together with Beyond Meat), was one of only two companies to fall out of last month's top 10.

Volume Rank Monthly Rank Change Company Symbol
1 '4 Tencent Holdings Ltd TENC.hk
2 "1 Tesla Inc TSLA.us
3 '1 Amazon.com Inc AMZN.us
4 "1 Moderna Inc MRNA.us
5 "3 Apple Inc AAPL.us
6 '4 Alibaba Group Holding Ltd ADR BABA.us
7 NVIDIA Corporation NVDA.us
8 '1 HSBC Holdings PLC HSBA.uk
9 New to Top 20 Volkswagen AG VOW.de
10 New to Top 20 Baidu Inc BIDU.us

Volume Rank Monthly Rank Change Sector Symbol
1 Big US Tech FAANG
2 China Tech CHN.TECH
3 China Ecommerce CHN.ECOMM
4 New to Top 10 Big China Tech (HKD Basket) ATMX
5 '1 Cannabis CANNABIS
6 "1 Airlines AIRLINES
7 "3 US Banks US.BANKS
8 New to Top 10 Casinos CASINOS
9 "1 Biotech BIOTECH
10 "1 Esports & Gaming ESPORTS

Past Performance and popularity is not an indicator of future results.
Rank is derived from FXCM Client Volume

*FXCM can be compensated in several ways, which includes but are not limited to adding a mark–up to the spreads it receives from its liquidity providers, adding a mark–up to rollover, etc. Commission–based pricing is applicable to Active Trader account types.

About FXCM:

FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, and related services. Founded in 1999, the company's mission is to provide global traders with access to the world's largest and most liquid market by offering innovative trading tools, hiring excellent trading educators, meeting strict financial standards and striving for the best online trading experience in the market. Clients have the advantage of mobile trading, one–click order execution and trading from real–time charts. In addition, FXCM offers educational courses on FX trading and provides trading tools, proprietary data and premium resources. FXCM Pro provides retail brokers, small hedge funds and emerging market banks access to wholesale execution and liquidity, while providing high and medium frequency funds access to prime brokerage services via FXCM Prime. FXCM is a Leucadia Company.

Forex Capital Markets Limited: FCA registration number 217689 (www.fxcm.com/uk)

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

70% of retail investor accounts lose money when trading CFDs with this provider.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXCM EU LTD: CySEC license number 392/20 (www.fxcm.com/eu)

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74–89% of retail investor accounts lose money when trading CFDs.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXCM Australia Pty. Limited: AFSL 309763.You can sustain a total loss of deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved. If you decide to trade products offered by FXCM AU, you must read and understand the Financial Services Guide, Product Disclosure Statement, and Terms of Business on www.fxcm.com/au.

FXCM South Africa (PTY) Ltd: FSP No 46534 (www.fxcm.com/za). Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.

FXCM Markets Limited: Losses can exceed deposited funds. (www.fxcm.com/markets).

Media contact:
Chatsworth Communications
+44 (0) 20 7440 9780
fxcm@chatsworthcommunications.com


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Dickey’s Executes Monumental International Franchise Deal to Expand in Africa http://www.kuwaitfinancialexpress.com/dickeys-executes-monumental-international-franchise-deal-to-expand-in-africa/ Tue, 07 Sep 2021 18:58:42 +0000 http://www.kuwaitfinancialexpress.com/?p=305533 Dallas, Texas, Sept. 07, 2021 (GLOBE NEWSWIRE) — Dickey's Barbecue Pit international expansion efforts are showing no signs of slowdown as the world's largest barbecue concept is bringing its slow–smoked meats and savory sides to more of Africa!

Dickey's announced today that the company signed a Master agreement with exclusive rights to grow its Africa presence by opening eight locations in Botswana over the span of a decade. The new locations will join Dickey's first Africa restaurant in Cairo, Egypt. Dickey's continues to expand its global footprint with additional locations open in Japan, Singapore, Philippines and United Arab Emirates and Master development agreements in place in Abu Dhabi, Australia, Brazil, Dubai, Pakistan, Myanmar, Taiwan and Georgia.

Located in the business district of Botswana's capital, Gaborone, Dickey's 1,575–square–foot flagship location will offer dine–in seating for up to 60 guests, carryout, and delivery. In addition to serving its traditional American menu, Botswana's first Dickey's will also feature local favorites such as lamb shank.

"The owner operators offer a firm understanding of the cultural and financial factors related to Botswana and Dickey's," said Jim Perkins, vice president of international development and support at Dickey's. "One of the Owner/Operators gained personal experience with the brand a few years ago while visiting her now husband who was studying at a University in Texas, which aided in driving this relationship forward during the pandemic. I could not be happier with their experience and energy "" it is outstanding!"

The new Owner/Operators will travel to Dallas to attend Dickey's training program "" Barbecue University. While in the U.S., they will take advantage of visiting the various footprints that Dickey's offers, including traditional brick–and–mortar, food trucks, non–traditional locations and more.

To learn more, follow Dickey's Barbecue Pit on Facebook, Instagram and Twitter. Download the Dickey's Barbecue Pit app from the Apple App Store or Google Play.

About Dickey's Barbecue Restaurants, Inc."

Dickey's Barbecue Restaurants, Inc., the world's largest barbecue concept, was founded in 1941 by Travis Dickey. For the past 80 years, Dickey's Barbecue Pit has served millions of guests Legit. Texas. Barbecue. At Dickey's, all our barbecued meats are smoked onsite in a hickory wood burning pit. Dickey's proudly believes there's no shortcut to true barbecue and it's why they never say"bbq."The Dallas–based, family–run barbecue franchise offers several slow–smoked meats and wholesome sides with 'No B.S. (Bad Stuff)' included. The fast–casual concept has expanded worldwide with international locations in the UAE and Japan. Dickey Family Restaurant brands have over"550 locations nationwide. In 2016, Dickey's won first place on"Fast Casual's""Top 100 Movers and Shakers" list, was named a Top 500"Franchise"by"Entrepreneur"in 2018 and was named to Hospitality Technology Industry Heroes in 2021. Led by CEO Laura Rea Dickey, who was"named among the country's 50 most influential women in foodservice in 2020 by"Nation's Restaurant News"and"was recognized as one of the top 25 industry leaders on"Fast Casual's"2020 Top 100 Movers and Shakers list,"Dickey's Barbecue Pit has also been recognized by"Fox News, Forbes Magazine, Franchise Times, The Wall Street Journal and QSR Magazine. For more information, visit"www.dickeys.com."

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Dickey's Barbecue Pit Expands to Pakistan http://www.kuwaitfinancialexpress.com/dickeys-barbecue-pit-expands-to-pakistan/ Thu, 29 Jul 2021 12:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=305366 Dallas, Texas, July 29, 2021 (GLOBE NEWSWIRE) — Dickey's Barbecue Pit in Lahore, Pakistan is open. The Texas Style barbecue restaurant features Short Ribs, Lamb Shank and Beef Sausages.

Representatives Azam Bhatti and Mazhar Zaidi from the A.J. Corporation inked their master franchise agreement with Dickey's Barbecue Pit to develop Pakistan's first American–based barbecue franchise and bring true, Texas–style barbecue to Pakistan. "We are so proud to be expanding Internationally and offer slow–smoked meats and sausages in Pakistan" says Roland Dickey Jr. Chief Executive Officer of Dickey's Capital Group.

"Dickey's Barbecue Pit is proud of the work Mazhar Ziadi, our master partner in Pakistan has done to drive the opening of our first location in Pakistan, Islamabad." Says Jim Perkins, Executive Vice President of International Sales and Support for Dickey's Barbecue Pit. "Under normal conditions opening a first location in a distant land is based on commitment and teamwork. Mazhar and his team forged forward under extreme Covid19 conditions and opens our Flagship store in Pakistan, I am proud of him, his team, and Dickey's Regional Manager in Dubai, Mansoor Saeed who made this available to the guests in Pakistan". Adds Perkins.

Since the barbecue chain opened their first overseas locations in Dubai and Abu Dhabi in 2018, this new deal now marks the 6th international location for the world's largest barbecue concept who plans on opening in Cairo, Egypt in August of 2021.

The A.J. Corporation acquired full franchising rights for Pakistan that includes a total development of 20 stores spread out over the next 10 years and plans to offer a variety of menu items, delivery, and catering options at their first location.

"We have a love for barbecue, because of its unique taste and we are excited to introduce Pakistan to Dickey's Legit. Texas. Barbecue.," says Azam Bhatti, founder of the A.J. Corporation. The 2,300 square foot restaurant is open from 11am until midnight.

To learn more, about Dickey's Franchise opportunities, click HERE. Follow Dickey's Franchise infomation on Facebook, Instagram and Twitter. Download the Dickey's Barbecue Pit app from the Apple App Store or Google Play.

About Dickey's Barbecue Restaurants, Inc.

Dickey's Barbecue Restaurants, Inc., the world's largest barbecue concept, was founded in 1941 by Travis Dickey. For the past 80 years, Dickey's Barbecue Pit has served millions of guests Legit. Texas. Barbecue. At Dickey's, all our barbecued meats are smoked onsite in a hickory wood burning pit. Dickey's proudly believes there's no shortcut to true barbecue and it's why they never say bbq. The Dallas–based, family–run barbecue franchise offers several slow–smoked meats and wholesome sides with 'No B.S. (Bad Stuff)' included. The fast–casual concept has expanded worldwide with international locations in the UAE and Japan. Dickey's Restaurant brands have over 550 locations nationwide. In 2016, Dickey's won first place on Fast Casual's "Top 100 Movers and Shakers" list, was named a Top 500 Franchise by Entrepreneur in 2018 and was named to Hospitality Technology Industry Heroes in 2021. Led by CEO Laura Rea Dickey, who was named among the country's 50 most influential women in foodservice in 2020 by Nation's Restaurant News and was recognized as one of the top 25 industry leaders on Fast Casual's 2020 Top 100 Movers and Shakers list, Dickey's Barbecue Pit has also been recognized by Fox News, Forbes Magazine, Franchise Times, The Wall Street Journal and QSR Magazine. For more information, visit www.dickeys.com.

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‘Falcon’s Beyond Global’ Launches as Fully Integrated Development Enterprise for IP-Driven Parks, Resorts, Media, & Merchandise http://www.kuwaitfinancialexpress.com/falcons-beyond-global-launches-as-fully-integrated-development-enterprise-for-ip-driven-parks-resorts-media-merchandise/ Wed, 07 Jul 2021 12:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=305750 New enterprise brings proprietary "Katmandu' and partner IPs to global markets through theme parks, resorts, feature films, episodic series, consumer products, and beyond.

————–
Joint venture with Meli Hotels International brings access to prime real estate and a global operating presence in major tourist destinations in 40 countries.

ORLANDO Fla., July 07, 2021 (GLOBE NEWSWIRE) — With proven theme park success in Europe, an award–winning creative team, patented technologies, and access to global real estate in prime tourist destinations, Falcon's Beyond Global, LLC has launched as a fully integrated enterprise to propel story–driven, experiential entertainment around the world.

Until now, it has proven almost impossible for most IP franchises to rapidly deploy across media content, consumer products, and hardest of all, themed location–based entertainment, all at once.

The new enterprise, supercharged by a joint venture with Meli Hotels International, will be the only vertically–integrated entertainment powerhouse able to simultaneously activate an intellectual property across the full transmedia spectrum "" with the potential to transform the $440 billion hospitality and entertainment category.

Meli, the world's #1 leisure hotel group with 390+ properties in 40 countries, many in prime beach destinations, is jointly developing theme park + resort combos with Falcon's Beyond at flagship properties on multiple continents.

Falcon's Beyond was formalized this May when leading attraction design & master–planning firm Falcon's Creative Group united with themed–entertainment company Katmandu Group.

This powerful combination has instantly created the only fully integrated source for simultaneous entertainment IP activations""from streaming media development to theme park site acquisition; master planning to brick–and–mortar projects; immersive ride & attraction design to merchandise creation; right through world–class park & resort operation.

Expanding and Evolving the Katmandu IP

A first major focus of Falcon's Beyond will be to apply its IP Expander model to the rapid evolution of its original and wholly–owned "Katmandu" IP""already popular with the millions of Europeans who have visited Sol Katmandu Park & Resort in Mallorca, Spain, and a growing list of Katmandu–branded kids camps in Meli's Sol Hotels.

Audiences resonate with the Katmandu universe's timeless, intertwined tales""where mythical characters come to life in wild adventures, inspiring wonder with imaginative, immersive realms, elusive yetis, and a multicultural cast of adventurers.

Along with new characters, a streaming video series, and merchandise, the proven Katmandu IP will undergo a brick–and–mortar expansion. Through unique technological capabilities, Falcon's Beyond will establish Katmandu as the first world–class theme park to have every ride and attraction customized to a centralized story "like chapters in the same legend," and digitally tied to individual guest experiences.

Development is moving forward on additional Katmandu parks on the grounds of Meli resorts in Punta Cana, Dominican Republic, Tenerife, Spain and other key tourist destinations.

Enabling the Impossible

"Falcon's Beyond Global represents the ultimate combination of unlimited storytelling potential, agile and flexible real estate scalability, and imaginative expansion into a multitude of categories," said Cecil D. Magpuri, CEO of Falcon's Beyond Global and founder of the original Falcon's Creative Group. "We develop inclusive, story–driven experiences that we can bring to market with unprecedented speed, removing all the massive challenges IP franchises and developers face when attempting this feat on their own."

"We are truly enabling the impossible," said Scott Demerau, Executive Chairman of Falcon's Beyond Global and co–founder of Katmandu Group. "Through our partnership with Meli, we have created a new playbook for building cost–effective, "Big–Experience, Small–Footprint' theme parks, from beach resort communities to mixed–use entertainment spaces. Falcon's Beyond Global brings a full complement of technology, design, and media expertise to the equation. Together, we are offering something that's simply never been accessible to companies before. This is a huge benefit to developers, emerging IPs, and even entertainment giants."

Creating "Big–Experience, Small–Footprint" Parks

Meli Hotels and Katmandu Group originally came together in a 2012 joint venture to launch the themed Sol Katmandu Park & Resort in Mallorca and complement the beach holiday experience by providing "entertainment with rooms." Their proof–of–concept rocketed to the top of the Meli Sol portfolio and was named in the European Hospitality Awards as the #1 hotel in Europe for innovation in service, out of more than 100,000 hotels. Trivago Global named the park + resort as the #1 Hotel in Spain for Traveling with Kids. TripAdvisor named Katmandu Park in the top 3 parks in Spain three years in a row, and as a Travelers' Choice Best of the Best 2020.

Falcon's Beyond will elevate this unique, proven model of "Big–Experience, Small–Footprint" theme parks for Katmandu and other IPs around the world, leveraging the joint venture with Meli, whose global operating presence enables growth in any tourism destination across the Americas, Europe, Asia, and beyond. The rights to additional important IPs have already been secured, and Falcon's Beyond is in discussions with others to deploy complete transmedia expressions at unheard–of speeds. The company has worked on master planning and design projects totaling over $100 billion and won numerous design awards for its world–class attractions and experiences.

Revolutionary Alternative to Mega Parks

Traditional "mega theme parks" require at least 6–8 years of planning, billions in investment, difficult real estate acquisition, new transportation infrastructures, urban planning, and 5–7 years of construction.

Falcon's Beyond delivers a revolutionary alternative.

Falcon's proprietary rides and attractions are world–class, cutting–edge, story–driven, and the first of their kind. Its patented technologies are uniquely able to create mega–park experiences in "Big–Experience, Small–Footprint" parks "" which leverage underused land on existing resorts in dense tourist hotspots. Falcon's Beyond parks can be deployed in as little as a 24–36 month window at a tiny fraction of the cost of a mega park, with Falcon's providing expert, ongoing operations.

A True Disruptor

“Meli is committed to bringing extraordinary experiences to our guests around the world," said Andr Gerondeau, Chief Operating Officer of Meli Hotels International. "Katmandu–themed parks and resorts will be a vital part of our story moving forward, and we feel this initiative puts us five years ahead of the rest of the hospitality industry in delivering "entertainment with rooms.' Everyone at Meli is thrilled to be working with the creative minds and experienced development experts at Falcon's Beyond."

"Falcon's Beyond and its unprecedented, imaginative, and already–deployed IP activation model completely shifts the established entertainment industry paradigm," said industry leader Ken Faier, founder of Epic Story Media, a full–service, creator–driven kids entertainment company. "We have seen first–hand what Falcon's is creating and we are really excited to explore an epic collaboration. There is a big demand for families looking for exciting experiences around great IP."

With its expertise in intellectual property expansion, licensing, and immersive experiences, Falcon's Beyond Global has unprecedented power to turn imagined worlds into reality "" inspiring wonder in audiences and guests, with memories to last a lifetime.

About Falcon's Beyond Global LLC
Headquartered in Orlando, Florida, Falcon's Beyond Global, LLC is a fully integrated, top–tier experiential entertainment development enterprise specializing in intellectual property expansion. The company brings its own proprietary and partner IPs to global markets through owned and operated theme parks, resorts, attractions, patented technologies, feature films, episodic series, consumer products, licensing, and beyond. The company has won numerous design awards and provided design services in 39 countries around the world. It is composed of four core divisions: Falcon's Treehouse (master planning & design), Falcon's Digital Media, Falcon's Licensing, and Falcon's Parks & Resorts. Storytelling is the guiding force behind all Falcon's Beyond projects""which turn imagined worlds into reality. For more information, visit www.falconsbeyondglobal.com

About Meli Hotels International
Founded in 1956 in Palma de Mallorca, Spain, Meli Hotels International (MHI) has more than 390 hotels open, or in the process of opening, in more than 40 countries. They operate under the brands Gran Meli Hotels & Resorts, Paradisus by Meli, ME by Meli, Meli Hotels & Resorts, INNSiDE by Meli, Sol by Meli, and TRYP by Wyndham. The company is a global leader in resort hotels, and its resort experience has allowed it to become a leader in the growing market of urban hotels inspired by leisure. The Sustainability Yearbook 2020, published by S&P Global, named Meli among the Most Sustainable Hotel Companies in the World (Silver Medal), and it has been included among Europe's Climate Leaders 2021 by the Financial Times & Statista. Meli Hotels International is also a member of the IBEX 35 and is the Spanish hotel company with the best corporate reputation, per Merco Ranking. For more information, visit www.meliahotelsinternational.com

CONTACT:

Joel Moore
Praytell Strategy
joel@praytellagency.com

Mara Umbert
Meli Hotels International
maria.umbert@melia.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/77a4b0cf–859f–4c92–b5c4–8e95f66ea4f6


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