Author: omc_admin

Germany-based property technology provider aedifion announced that it has raised €17 million ($USD19.7 million) in a Series B financing round, with proceeds aimed at expanding its solutions to cut real estate CO2 emissions and energy costs. Founded in 2017, Cologne-based aedifion provides software solutions for optimizing building performance. The company’s AI-powered cloud platform helps real estate owners and operators to reduce energy consumption, CO2 emissions, and operating costs of buildings, by collecting real-time operational data, identifying malfunctions, providing recommendations for operational optimization, and autonomously managing building operations based on real-time data such as weather forecasts and user behavior. The company…

Guwahati: State owned Oil and Natural Gas Corporation Limited (ONGC), in collaboration with international well control experts, continues to make measured and strategic progress in the well control operations at its crude oil well in Assam’s Sivasagar district, despite persistent rainfall and challenging site conditions, officials said. An ONGC spokesman said that a key development in the operation was the successful installation of a 200-ton crane with an approximately 80-metre boom, which has now been fully commissioned and is actively supporting critical tasks at the site. This marks a significant advancement in the preparatory phase leading to the well-capping operation.…

Syre secures strategic partnerships with Gap Inc., Target, and Houdini Sportswear to scale circular polyester production. Gap to source 10,000 metric tons annually of Syre’s recycled polyester; Target commits to embedding circular fibers in its owned brands. Syre’s North Carolina plant to launch in 2026, with further expansion into Vietnam planned, targeting over 3 million metric tons of output by 2032. Syre, the H&M-backed textile recycling firm, has announced strategic partnerships with Gap Inc., Target, and Houdini Sportswear as part of its commercial launch, advancing its mission to decarbonize and dewaste the fashion industry. These alliances are central to what…

The UK government is poised to reject a controversial plan to divide the nation’s electricity market into zones, according to people familiar with the matter, retaining one wholesale power price throughout the UK. Government officials have briefed people closely following the policy that they are inclined not to push ahead with the proposal, according to the people, who asked not to be named discussing a decision that hasn’t been announced. They cautioned that a final decision hasn’t been made and that it will need involvement from Prime Minister Keir Starmer. The Department for Energy Security and Net Zero has been…

Streamlined Climate Disclosure: New guidance helps entities provide consistent, high-quality transition-related disclosures under IFRS S2. Global Alignment: Builds on UK TPT materials while ensuring compatibility with the ISSB’s global baseline. Jurisdictional Flexibility: Allows local authorities to tailor additional disclosure requirements without obscuring core financial data. The IFRS Foundation has published new guidance to help entities disclose climate-related transition information in alignment with IFRS S2 Climate-related Disclosures, aiming to improve the quality, consistency, and comparability of climate transition data. “This guidance document addresses the fragmentation of disclosures about transition plans—which is costly for both preparers of information and investors—and provides inspiration…

The total North America rig count remained unchanged week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on June 20. The U.S. dropped a total of one rig week on week, while Canada added a total of one rig week on week, keeping the total North America rig count at 693, comprising 554 rigs from the U.S. and 139 rigs from Canada, the count outlined. Of the total U.S. rig count of 554, 538 rigs are categorized as land rigs, 14 are categorized as offshore rigs, and two are categorized as inland water…

Greenbelt Capital’s debut fund closes at its $1B hard cap—exceeding its $750M target. The fund targets investments driving energy, power, and infrastructure transformation. Greenbelt now manages $2.5B and has begun deploying capital into portfolio companies. Greenbelt Capital Partners, a private equity firm focused on advancing energy and infrastructure transformation, has closed its inaugural fund—Greenbelt Capital Partners III L.P.—at $1 billion, hitting its hard cap and exceeding its original $750 million target. The fund drew commitments from a wide range of global institutional investors, including pension funds, sovereign wealth funds, insurance companies, and foundations across North America, Europe, and Asia-Pacific. “We’re…

Oil prices dropped dramatically after a surprisingly speedy ceasefire was agreed between Israel and Iran, although the peace remains fragile.- US electricity demand is expected to soar to levels not seen since the summer of 2013 as regional operator PJM warned of consumption potentially reaching 158 GW, with temperatures nearing 100°F.- Power demand in the US averaged 36.5 BCf/d over the weekend before skyrocketing to 47.5 BCf/d on 24-25 June, greatly slowing down the pace of US natural gas storage injections this week.- Henry Hub gas futures in the US showed little reaction to the unfolding Israel-Iran conflict and moved…

Gamers can’t get enough of the Switch 2 — and demand for the new console has boosted Nintendo stock too.Shares in the Japanese company hit new highs this month and have gained 39% this year, adding $39 billion to its market cap that stands at about $115 billion.The Switch 2 was released at the start of June and has been a huge hit with gamers. Nintento said earlier this month it had sold 3.5 million consoles in the first four days — the fastest-selling system it’s ever released.US retailers have kept running out of stock, making it hard to nab. Walmart…

UK-based conglomerate Virgin announced that its climate targets, including its goal to achieve net-zero greenhouse gas emissions (GHG) across the value chain by 2050, have been approved by the Science Based Target initiative (SBTi). Among the goals approved by the SBTi is a commitment by the company to ensure that 68% of its companies by emissions will have science-based targets in place by 2029. Virgin companies span a wide range of sectors and include airline Virgin Atlantic, music and entertainment companies Virgin Music, Virgin BET and Virgin Records, fitness brand Virgin active, banking business Virgin Money, technology and communication companies…