Category: Asean

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Madison Realty Capital Originates $85 Million Loan for Luxury Condominiums on Fisher Island in Miami, Florida

Loan Facilitates Acquisition of Last Remaining Development Site on Exclusive Island

NEW YORK, Sept. 15, 2022 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced that it has provided an $85 million loan to The Related Group (“Related”), BH Group, Teddy Sagi’s Globe Invest, and Wanxiang Group Corporation for the acquisition and pre-development of a 6.51-acre land parcel with approved plans for the development of a luxury condominium project on Fisher Island in Miami Beach, Florida.

The parcel is located at 6 Fisher Island Drive at the last remaining condo development site on the 216-acre private island, which is accessible only by ferry, boat, or helicopter and offers significant privacy for its 800 residents. The condominiums will rise ten stories and consist of 51 units across a mix of three- to five-bedroom residences, three villas and two penthouses with premium finishes and appliances. The property will include 450 feet of private oceanfront and valet parking for 169 spaces as well as 7 private two-car garages and 93 golf cart spaces. Residents will have access to premier amenities as well as membership to the Fisher Island Club, which offers beaches, seaside golfing, tennis courts and restaurants.

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “Fisher Island is one of the most exclusive residential locations in the country. Owing to the scarcity of land, limited supply of new residences, and significant development timeline, property values on Fisher Island have performed through market cycles. We are pleased to provide financing for the acquisition and predevelopment of such a rare development site and to complete our second transaction with Related and BH Group in such a short period of time.”

The loan is Madison Realty Capital’s second to Related and BH Group. In July, it provided the partners with a $76 million loan for the development of District 225, a 343-unit luxury condominium in Downtown Miami.

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that, as of August 31, 2022, manages approximately $9.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $21 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com

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Heart Aerospace unveils new airplane design, confirms Air Canada and Saab as new shareholders

Swedish electric airplane maker Heart Aerospace today unveiled significant design updates to its first electric aircraft and confirmed Air Canada, one of North America’s largest airlines and Saab, the Swedish aerospace and defense- company, as new minority shareholders.

Gothenburg, Sweden, Sept. 15, 2022 (GLOBE NEWSWIRE) — Swedish electric airplane maker Heart Aerospace today unveiled significant design updates to its first electric aircraft and confirmed Air Canada, one of North America’s largest airlines and Saab, the Swedish aerospace and defense- company, as new minority shareholders.

The new airplane design, called the ES-30, is a regional electric airplane with a capacity of 30 passengers and it replaces the company’s earlier 19-seat design, the ES-19. It is driven by electric motors powered by batteries, which allows the airplane to operate with zero emissions and low noise.

Air Canada and Saab have each invested USD 5 million in Heart Aerospace. In addition to its investment, Air Canada has also placed a purchase order for 30 ES-30 aircraft.

“We are thrilled to have two such strong partners as Saab and Air Canada join our mission to electrify regional air travel. Growing up in Sweden, Saab is synonymous with aerospace, and our partnership will not only support our programme, but help us to become a part of the proud Swedish aerospace heritage,” said Anders Forslund, founder and CEO of Heart Aerospace. “Air Canada is a strategically important partner with one of the world’s largest networks operated by regional turboprops, and as a progressive, future leaning company.”

“Air Canada is very pleased to partner with Heart Aerospace on the development of this revolutionary aircraft. We have been working hard with much success to reduce our footprint, but we know that meeting our net-zero emissions goals will require new technology such as the ES-30. We have every confidence that the team at Heart Aerospace has the expertise to deliver on the ES-30’s promise of a cleaner and greener aviation future,” said Michael Rousseau, President and Chief Executive of Air Canada.

The ES-30 has a comfortable three-abreast flat-floor cabin seating, and it features a galley and a lavatory. Cabin stowage and overhead bins will add to the large external baggage and cargo compartment and provide airlines with network flexibility.

The airplane will also include a reserve-hybrid configuration, consisting of two turbo generators powered by sustainable aviation fuel. The reserve-hybrid system is installed to secure reserve energy requirements without cannibalizing battery range, and it can also be used during cruise on longer flights to complement the electrical power provided by the batteries.

This gives the airplane a fully electric range of 200 kilometers, an extended range of 400 kilometers with 30 passengers, and flexibility to fly up to 800 kilometers with 25 passengers, all-inclusive of typical airline reserves.

“The ES-30 is an electric airplane that the industry can use. We have designed a cost-efficient airplane that allows airlines to deliver good service on a wide range of routes,” said Anders Forslund, founder and CEO of Heart Aerospace. “With the ES-30 we can start cutting emissions from air travel well before the end of this decade and the response from the market has been fantastic.”

“This underlines our commitment to innovative technology and solutions for sustainable aviation. Heart is a pioneer within commercial electric aviation and we look forward to contributing to the future of aviation with our experience of developing solutions at the forefront of technology,” says Micael Johansson, Saab’s President and CEO.

Previous orders for Heart Aerospace’s ES-19 electric airplane, placed by United Airlines and Mesa Air Group for a total of 200 electric aircraft with an option for an additional 100 planes, are reconfirmed for the updated ES-30 design.

“From the beginning Heart and United have been on the same page – with an acute focus on safety, reliability, and sustainability. Heart’s exciting new design – which includes expanded passenger capacity from 19 to 30 seats, and a state-of-the-art reserve-hybrid engine – is the type of revolutionary thinking that will bring true innovation to aviation,” said Scott Kirby, CEO of United Airlines.

In addition to those commitments, many of the ES-19 letters of intent (LOI) holders have already updated their respective letters to reflect the ES-30. These include the Nordic airlines Braathens Regional Airlines (BRA), Icelandair and SAS as well as New Zealand’s Sounds Air. Rockton, a Swedish-based lessor who has made it their mission to focus on sustainable solutions for the industry, has just signed an LOI with for up to 40 airplanes.

In total, Heart Aerospace has LOIs for 96 ES-30s.

The ES-30 is a cost efficient airplane that, on top of significant fuel savings, is cheaper to operate than a larger turboprop due to its electric propulsion. The airplane has also been designed to accommodate battery technology evolution, which will increase its fully electric range and make it even more cost efficient over time.

The ES-30 is expected to enter into service in 2028.

The Swedish electric airplane maker will establish the world’s first commercial electric aircraft industry at Säve airport, in Gothenburg, Sweden.

Heart Aerospace will build sustainable state-of-the-art offices, production, and flight test facilities which, together, will form a new campus that will go by the name the Northern Runway.

“We have a plan and it’s not just to build a new electric airplane, but a whole new industry,” said Anders Forslund, founder and CEO of Heart Aerospace. “Sweden is the origin of flight shame, an anti-flying movement, but with the Northern Runway we will make electric air travel a reality and preserve flying for future generations.”

Heart Aerospace’s Northern Runway campus will form part of the Castellum owned development area Gateway Säve, where a unique site for sustainable logistics and electric mobility is being developed.

“Gothenburg has distinguished itself as a driving force within electrification, with world class research facilities like the Swedish electric transport laboratory, SEEL, Chalmers University of Technology and a large cluster of companies focused on battery and electric vehicle development,” said Sofia Graflund, chief operating officer at Heart Aerospace. “The ambition that Castellum and the City of Gothenburg have for Gateway Säve is truly unique and that is why we have decided to establish our new industry here.”

Heart Aerospace currently employs 130 people, but the company is growing rapidly and expects to employ around 500 people by 2025.

” We are extremely proud that Heart Aerospace has chosen Gothenburg for this step in their expansion, which we will give full support. The establishment will generate an additional 500 Swedish jobs by 2025 and even more when series production begins,” said Patrik Andersson, CEO of Business Region Göteborg.

The long-term recruitment base in Gothenburg is strong due to its proximity to Chalmers University of Technology, ranked among the top 100 in the world in terms of graduate employability.

A first phase in the establishment of Heart Aerospace’s Northern Runway is scheduled to be finalized by mid-2024, with test flights scheduled to start in 2026. Heart Aerospace expects to deliver its first ES-30 aircraft in 2028.

Note to editors:

More information on “Gateway Säve” can be found on www.gatewaysave.com.

Christina Zander
Heart Aerospace
+46 728889610
press@heartaerospace.com
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Final Preparations for XII FIP World Polo Championship Begin

U.S. Polo Assn.

U.S. Polo Assn.

WELLINGTON, Fla., Sept. 15, 2022 (GLOBE NEWSWIRE) — The United States Polo Association; U.S. Polo Assn., the official brand of the USPA; the National Polo Center – Wellington (NPC) and Valiente Polo Farm are making final preparations to host the XII Federation of International Polo (FIP) World Polo Championship in Florida this October. Welcoming the international contest to the United States for the second time in the competition’s history, the tournament will take place from Oct. 29 – Nov. 6. Held every three to four years, the international tournament was originally scheduled for 2021 but was postponed due to the COVID-19 pandemic. Representing the top 10- to 14-goal teams from around the world, eight countries will grapple for international polo glory, including Argentina, Australia, Italy, Mexico, Pakistan, Spain, the United States and Uruguay.

To qualify as one of the eight teams to advance to the FIP World Polo Championship, the road begins with five zone playoffs and includes more than 25 countries vying for the opportunity of a lifetime to represent their nation on an international stage. The defending champions (Argentina in 2017) and host country (United States) automatically qualify, and the remaining six teams have been decided from zone competition. Teams advancing from zone playoffs to the FIP World Polo Championship include Mexico (Zone A – North America and Central America), Uruguay (Zone B – South America), Spain and Italy (Zone C – Europe), Australia (Zone D – Asia and Oceania) and Pakistan (Zone E – Africa, Pakistan and India).

The strengths of the United States lie in both high-quality horses and a prime location featuring world-class fields and facilities. Home to the GAUNTLET OF POLO®, NPC is the ideal venue for the event, attracting South Florida’s passionate polo and equestrian community. Featuring top-rated polo fields, VIP experiences for both fans and players, and unrivaled corporate hospitality, the XII FIP World Polo Championship promises to be an exceptional and unforgettable global event for players, sponsors and spectators. Preliminary games will be held at Valiente Polo Farm and the opening ceremony, semifinals and final will take place at NPC. Ticketed NPC events will include the Opening Ceremony on Saturday, Oct. 29, and the XII FIP World Polo Championship Final on Sunday, Nov. 6. Tickets will become available mid-September at nationalpolocenter.com. The 2022 tournament will draw the eyes of the global polo community to the winter equestrian capital of the world with the FIP World Polo Championship semifinals and final broadcast on ESPN for the first time. All games will also be available for free on GlobalPolo.com.

XII FIP World Polo Championship Tournament Schedule: 

*Denotes a ticketed event.

Saturday, Oct. 29

Game 1 Valiente Polo Farm
Game 2 Valiente Polo Farm
Game 3 NPC
Game 4 & Opening Ceremony: USA Team vs. TBD NPC, U.S. Polo Assn. Field One*

Monday, Oct. 31

Game 5 Valiente Polo Farm
Game 6 Valiente Polo Farm
Game 7 Valiente Polo Farm
Game 8 Valiente Polo Farm

Wednesday, Nov. 2

Game 9 Valiente Polo Farm
Game 10 Valiente Polo Farm
Game 11 Valiente Polo Farm
Game 12 Valiente Polo Farm

Friday, Nov. 4

1:00 p.m. ET – Semifinal 1 NPC
3:00 p.m. ET – Semifinal 2 NPC

Sunday, Nov. 6

1:00 p.m. ET – Third Place Match NPC
3:00 p.m. ET – XII FIP World Polo Championship Final NPC, U.S. Polo Assn. Field One*

“We are putting in a lot of resources to make this a world-class event,” shared FIP United States Ambassador and USPA President Tony Coppola. “No stone has been left unturned. The string of horses we are going to provide will be great, and the facilities will be fantastic and at their prime. The USPA’s goal is to make this a world-class tournament and showcase what we have now that we own NPC.”

A defining feature of the XII FIP World Polo Championship is the 176 exceptional horses representing some of the best bloodlines in the world from sole horse provider J5 Equestrian. USPA Executive Director of Services Carlucho Arellano noted the importance of having such high-quality horses for a competition of this caliber, sharing, “Providing good horses is one of the three key ingredients to quality polo, along with great fields and solid management.”

Further detailing how the horses will be preparing for intense competition, he continued, “The horses are currently in several different locations and have been played during the summer in California and Colorado. They will get some rest time and then come to Wellington a month in advance of the Championship for the legging-up process. The final two weeks of that process will consist of practices that increase in intensity. The teams all arrive by Oct. 26, and they will get to ride their string once and play them in one practice before their first game on Oct. 29.”

Leading up to the tournament, the horses will also be evaluated and ranked in October by FIP horse master Adam Snow. Snow is a former 10-goaler and Hall of Famer. His experience both in the saddle and in the barn will make him an invaluable asset throughout the event. Snow will rank horses based on their ability and then place them into evenly-matched strings. Each team will be assigned a group of 22 horses, and teams will draw to select their pooled polo ponies in person on Wednesday, Oct. 26.

In 1982, to broaden the scope of international polo and restore the sport’s Olympic status, Marcos Uranga created the Federation of International Polo, officially recognized by the International Olympic Committee (IOC). Five years later, Uranga and American polo player Glen Holden organized the inaugural FIP World Polo Championship in Argentina. Aware of the challenges of fielding high-goal teams worldwide, FIP organizers decided to limit the competition to teams rated 10 to 14 goals.

Capturing the title in Germany in 1989, the United States Polo Association has selected the most talented players to represent the USA team. Selected as the coach for the USA team, former 9-goal professional Julio Arellano was on the winning team in 1989 and is humbled at the opportunity to lead the United States for a FIP title on home soil.

Ranging in age from 17 to 25, the eight American players vying for a spot on the starting roster include Nico Diaz Alberdi, Agustin Arellano, Hope Arellano, Joaquin Avendaño, Lucas Escobar, Nico Escobar, Jake Klentner and Kristos “Keko” Magrini. Of this extremely accomplished roster, Hope Arellano stands out, as she is the first woman to ever be considered for the American team. Players will train together in weekly practice games and stick-and-ball sessions for a month in Argentina beginning in September to determine the team’s final lineup. Once the U.S. team returns home, they will begin practicing in Wellington, Florida, and exercising and preparing J5 Equestrian horses for competition leading up to the championship.

Outfitting the teams with official performance jerseys and equipment as the Official Apparel Partner and Presenting Sponsor, U.S. Polo Assn. is proud to join forces once again with the FIP World Polo Championship to promote the brand during the pinnacle of international polo competition. “This is truly a global event that will resonate with our consumers and sports fans around the world, across 190 countries. We are also excited our partners at ESPN will broadcast the opening ceremony featuring the USA team,” said J. Michael Prince, President and CEO of USPA Global Licensing.

For more information and updates, please visit the FIP World Polo Championship landing page.

About the United States Polo Association®  

The United States Polo Association was organized and exists for the purposes of promoting the game of polo, coordinating the activities of its Member Clubs and Registered Players, arranging and supervising polo tournaments, competitions and games, and providing rules, handicaps, and conditions for those tournaments, competitions, and games including the safety and welfare of participants and mounts. Founded in 1890, the USPA is the national governing body for the sport of polo. The USPA is currently comprised of almost 300 member clubs with thousands of individual members, and oversees 40 national tournaments. For more information, please visit uspolo.org.

About U.S. Polo Assn. and USPA Global Licensing Inc. (USPAGL)

U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the nonprofit governing body for the sport of polo in the United States and one of the oldest sports governing bodies, having been founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through some 1,200 U.S. Polo Assn. retail stores and thousands of department stores as well as sporting goods channels, independent retailers and e-commerce, U.S. Polo Assn. offers apparel for men, women, and children, as well as accessories and footwear in 190 countries worldwide. Today, U.S. Polo Assn. is ranked the 28th largest licensor in the world and within the top five sports licensors, according to License Global’s 2022 list of “Top Global Licensors.” Visit uspoloassnglobal.com.

USPA Global Licensing Inc. (USPAGL) is the for-profit subsidiary of the USPA and its exclusive worldwide licensor. USPAGL manages the global, multi-billion-dollar U.S. Polo Assn. brand and is the steward of the USPA’s intellectual properties, providing the sport with a long-term source of revenue. Through its subsidiary, Global Polo Entertainment (GPE), USPAGL also manages Global Polo TV, the world’s leading digital platform with polo and lifestyle content. In addition, USPAGL partners with ESPN and beIN Sports globally to share the sport of polo broadcasts on television and on-demand to millions of viewers around the world. For more polo content visit globalpolo.com.

About Federation of International Polo (FIP)

The Federation of International Polo (FIP) is the international federation representing the sport of polo, officially recognized by the International Olympic Committee. It was created in 1982 by representatives of eleven national polo associations. FIP’s principal aim is to enhance the image and status of the great game of polo internationally.

FIP’s mission is to promote the practice of the sport of polo worldwide in order to defend and ensure the spirit of fair play and moral fortitude, with the objective of forming the sporting attitude of gentlemanly behavior during and after the game, on the playing fields and wherever polo players should meet, so as to form one great world polo family. FIP currently has 76 registered member associations representing over 23,000 players. For more information, please visit www.fippolo.com.

About The National Polo Center – Wellington (NPC)

The National Polo Center – Wellington is located in the heart of South Florida’s legendary horse country. The perpetual home for polo in America, NPC is owned and managed by the United States Polo Association to showcase the finest the sport has to offer. The Association’s premiere event, the GAUNTLET OF POLO, takes place from February to April each winter season showcasing the world’s preeminent teams, professional athletes and finest horses which come together for three months to battle head-to-head for the coveted C.V. Whitney Cup, USPA Gold Cup and U.S. Open Polo Championship trophies. Throughout the year, the facilities are also used to showcase USPA Member Clubs and prestigious national tournament competition.

The entrance to the club is via a palm tree-lined drive, that leads past tennis courts to the steps of the magnificent pool and Mallet Grille. The natural Florida terrain is augmented by a large lake, lush tropical landscaping and some of the most carefully manicured polo fields in the world. Spectating from the stadium, private boxes, fieldside tailgates and special hospitality tents, all overlooking the U.S. Polo Assn. Field One is an unparalleled experience. NPC invites you to experience the best polo in the country, taking place at one of the most beautiful venues in the world, the National Polo Center – Wellington

MEDIA CONTACTS

United States Polo Association:

Matt Baran, Director of Communications
(561) 373-4954
mbaran@uspolo.org

USPA Global Licensing:

Shannon Stilson, Assistant Vice President of Marketing
(561) 227-6994
sstilson@uspagl.com

Federation of International Polo:

Silvana Rando, Administrative Assistant
srando@fippolo.com

Veronica Igoa, FIP Social Media
Igoa.veronica@gmail.com

J5 Equestrian:

Rob Jornayvaz, Owner
Rob@runningironcreative.com
Cell: 303-803-3607
Alt: 847-840-8408

Visit our website at www.uspolo.org
Follow us on Instagram
@uspoloassociation
@uspoloassn
@nationalpolocenter
@fip_polo

Related Images

Image 1: U.S. Polo Assn.

U.S. Polo Assn.

Image 2: U.S. Polo Assn.

U.S. Polo Assn.

This content was issued through the press release distribution service at Newswire.com.

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Flash News: OKX to Support ETHW Swaps; Provides SWEAT Margin Trading and LING Listing

  • OKX DEX is the first swap aggregator to support ETHW
  • OKX has opened margin trading, savings and list perpetual offerings for SWEAT
  • Lingose’s LING has listed on OKX

VICTORIA, Seychelles, Sept. 15, 2022 (GLOBE NEWSWIRE) — OKX, the world’s second-largest crypto exchange by volume, has become the first exchange to offer aggregated swaps for the ETH forked token, ETHW. The platform is also offering a broader range of trading options for SWEAT and has listed Lingose’s LING.

OKX DEX announces support for ETHW Swap
From September 16, OKX DEX will officially support swaps for ETHW. Users will be able to use the OKX Wallet to conduct ETHW full chain asset transactions, including for all main network tokens.

OKX DEX is the first swap aggregator that supports ETHW. It has a routing splitting algorithm that helps avoid significant slippage due to insufficient liquidity on a single DEX. This allows for token exchanges to be completed quickly and safely.

OKX DEX aggregates 10+ public chains and 100+ decentralized exchanges, supports 100,000+ tokens, and helps users secure the optimal price, the least slippage, and the lowest gas fees in multi-chain and cross-chain scenarios.

OKX enables margin trading & savings and list perpetual for SWEAT
OKX has also announced that margin trading, savings and perpetual swaps for move-to-earn token SWEAT have been enabled as of September 15.

OKX was the initial listing exchange for SWEAT.

For more information, please click here.

OKX lists Lingose’s LING for spot trading
Lingose’s LING token has also been listed on OKX spot trading markets as of September 13 and 14.

Lingose aims to establish a Game ID protocol bound by smart contracts, which can award on-chain credentials by capturing the behaviors from your Web3 adventure. A Lingose ID is a social identity with a set of credential data integrated into it.

Click here for more information.

For further information, please contact:
Media@okx.com

About OKX
OKX is the second biggest global crypto exchange by trading volume and a leading web3 ecosystem. Trusted by more than 20 million global customers, OKX is known for being the fastest and most reliable crypto trading app for investors and professional traders everywhere.

As a top partner of English Premier League champions Manchester City F.C., McLaren Formula 1, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new financial and engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

Beyond OKX’s exchange, the OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.

To learn more about OKX, download our app or visit: okx.com

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Outbrain Releases Keystone: A Holistic Business Optimization Platform for Media Owners

New business line uses proprietary bidding and optimization AI technology to activate revenue streams beyond advertising

NEW YORK, Sept. 15, 2022 (GLOBE NEWSWIRE) — Outbrain Inc. (Nasdaq: OB), a leading recommendation platform for the open web, today officially released Keystone by Outbrain™: a holistic business optimization technology built to align a publisher’s complete set of business initiatives with a more tailored experience for audiences. Going beyond driving ad revenue, Keystone applies Outbrain’s proprietary bidding and optimization AI technologies to integrate every revenue-generating facet of a publisher’s site, including subscriptions, eCommerce, and any other business goal unique to each publisher. Keystone was unveiled earlier this week to a select group of publishers during Outbrain’s “The Future of Media” summit.

“For over 15 years, we’ve worked side-by-side with publishers to help them drive revenue through advertising. This has given us insight into the opportunities and challenges they face as they continue to optimize the user journey while balancing business initiatives and revenue diversification,” said Yaron Galai, co-founder and co-CEO of Outbrain. “Keystone is a technology that publishers can rely on to make the most of audiences’ digital experiences while preserving quality editorial content. The anticipated result is a tailored user experience supporting a more diversified revenue mix that positions our media partners for future growth.”

While Outbrain’s current recommendation technology provided nearly $745M in direct payments to Outbrain’s media partners in 2021 alone, Keystone is expected to help media owners increase their earnings by providing a more customized experience for readers across all properties and initiatives. The technology utilizes Outbrain’s AI conversion prediction-engine to create dynamic user segmentation, and the Keystone dashboard provides full transparency and a unified view of business initiatives to monitor and report on KPIs, inform strategies, and gather insights in real time.

“With publisher ad revenues under pressure, static experiences across all touchpoints are causing them to leave money on the table,” commented Amit Elisha, General Manager of Keystone and VP, Products of Outbrain. “Providing a more tailored experience for readers by understanding their intent will create loyalty, ultimately driving repeat visits and increasing the value of a publisher’s business.”

Keystone currently has four design partners including a large US news publisher and a leading European financial publisher. Early results have shown that one placement on a home page, optimized for multiple campaigns with Keystone, can lead to a 30-50% increase in user engagement for those placements. Pricing is based on a SaaS model to enable publishers to deploy the Keystone platform with full flexibility, regardless of whether they’re integrated with Outbrain’s core content recommendation products.

About Outbrain
Outbrain (Nasdaq: OB) is a leading recommendation platform for the open web. Our technology enables 10 billion daily recommendations to consumers across more than 7,000 online properties and connects advertisers to these audiences to grow their business. Founded in 2006, Outbrain is headquartered in New York, with offices in 17 cities worldwide.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. You can generally identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “guidance,” “outlook,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions that concern our expectations, strategy, plans or intentions. We have based these forward-looking statements largely on our current expectations and projections regarding future events and trends that we believe may affect our business, financial condition and results of operations. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors, including but not limited to: the risks described in the section entitled “Risk Factors” and elsewhere in the Annual Report on Form 10-K filed for the year ended December 31, 2021 and in subsequent reports filed with the SEC. Accordingly, you should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those projected in the forward-looking statements. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact
press@outbrain.com

Investor Relations Contact
IR@outbrain.com
(332) 205-8999

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NewGlobe methods transforming African and Indian education as world leaders gather to address learning crisis at global summit.

RwandaEQUIP school

A RwandaEQUIP school

LAGOS, Nigeria, Sept. 15, 2022 (GLOBE NEWSWIRE) — An innovative teaching methodology delivering “learning gains among the largest ever measured” is being taken-up by more and more African and Indian governments – ahead of the global education summit to tackle what’s being called the greatest learning crisis for 100 years.

Rwanda’s Government is the latest to launch a national education transformation program – RwandaEQUIP – with the aim of making the country’s entire basic education system globally competitive.

Global leaders are gathering in New York for the UN Transforming Education Summit – convened in response to the crisis in global education. A ‘Solutions Day’ will focus on the few replicable programs – like RwandaEQUIP – already delivering transformation at scale.

“Educational transformation is a core priority for the Government of Rwanda and bold investments have been made to this effect,” said Gaspard Twagirayezu, Minister of State in Charge of Primary and Secondary Education.

RwandaEQUIP is supported by NewGlobe’s innovative methodology, confirmed in a landmark study to deliver learning gains easily in the top 1% of those ever rigorously studied at scale in emerging markets.

The study, led by Professor Michael Kremer, 2019 Nobel Prize winner, suggests children living in underserved communities receive over 53% more learning in NewGlobe supported schools compared to students in other schools.

The results are an affirmation of NewGlobe’s integrated learning system, used by the Government of Rwanda and others across Africa and India to support a million students today and growing year-on-year.

The study is based on a randomized control trial of more than 10,000 students from low socioeconomic backgrounds in Kenya.

  • After two years, primary students taught using NewGlobe’s methods are nearly a whole additional year of learning ahead of students in other schools.
  • For pre-primary students, two years’ teaching using NewGlobe’s methods puts them a year-and-a-half of additional learning ahead of other students.
Infographic

Learning gains in NewGlobe-supported schools

NewGlobe’s Africa Director Clement Uwajenza said: “Despite enormous global investment, the 2030 SDG4 education targets will be missed, failing another generation of children. Now, is the time to identify and scale effective local solutions already being implemented by governments in the Global South. We all know the scale of the crisis, now we need practical action to solve it. The international community must unite and commit to implementing solutions already proven to work if we’re to have any prospect of delivering on the promise of quality education for all. We must all hope that this Summit seizes the chance for change.”

The groundbreaking education study also finds children taught using New Globe’s methods are three times more likely to be able to read at age seven. The World Bank estimates 90% of 10 year olds in Africa can’t read a single sentence.

World Bank Education Director Jaime Saavedra says the level of learning poverty in low and middle income countries is “the most serious education crisis of the last 100 years.”

The latest UNESCO estimates suggest that SDG4 – the target to ensure quality education for all by 2030 – will be missed, with 300 million children still not reaching basic standards in literacy and numeracy.

More details: marek.pruszewicz@newglobe.education

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/c9d01433-18ba-4690-b2ae-cd561c3b4f10

https://www.globenewswire.com/NewsRoom/AttachmentNg/2210e4a1-6f26-4353-878a-a68ec7d2ed81