e2Companies Secures $100 Million Investment Commitment from GEM, as Company Anticipates Listing

Investment Commitment will Fund e2Companies’ Future Growth and Virtual Utility®

BONITA SPRINGS, Fla., Jan. 17, 2024 (GLOBE NEWSWIRE) — e2Companies, a leading provider of integrated solutions for power generation and distribution, announced today that it has secured a $100 million investment commitment from Luxembourg based Global Emerging Markets (“GEM”). With this financing commitment, e2Companies is well positioned to advance and deliver on the company’s mission to design solutions that deliver seamless resiliency and reliability for its customers.

“We’re thrilled to partner with GEM,” said James Richmond, CEO at e2Companies. “This provides access to financing that strengthens e2Companies’ and speeds up the global energy transition. The optimization of our power grid depends on distributed energy resources and expanding choice for the end-user. Including the source of power, type of power, market rates, and environment considerations. Our R3Di® system and Grove365 software unlock a new model for independent grid stability. Increasing the strength of the grid where it is needed the most – at the source of power consumption.”

The GEM investment will strengthen the company financially and support the ongoing development of Virtual Utility®. This includes new product discovery and manufacturing capabilities in North America and Europe while delivering additional value creation and margin improvement across international markets. The funding commitment from GEM will allow e2Companies to drawdown funds by issuing shares through its’ anticipated common stock offering, with e2Companies maintaining control over the timing and magnitude of such drawdowns without having a minimum drawdown obligation.

About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion, alternative investment group with offices in Paris, New York, and Nassau (Bahamas). GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 570 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments.

For more information: http://www.gemny.com

About e2Companies
e2Companies is the first vertically integrated Virtual Utility® for power generation, distribution, and energy economics in the marketplace. e2Companies’ innovative technology delivers top notch performance and unprecedented value in the industry. This includes 24x7x365 asset monitoring, and energy optimization programs to unlock new revenue opportunities for customers.

To learn more about e2Companies visit www.e2companies.com

Media Contact: investorrelations@e2Companies.com

GlobeNewswire Distribution ID 9019747

Presidential Economic Advisory Council discusses measures to support economic growth, job creation


Despite the progress made in putting in place fiscally, socially and environmentally sound economic policies, the Presidential Economic Advisory Council (PEAC) has noted that significant challenges remain.

‘In its assessment of the current economic environment, the PEAC highlighted fiscal risks, the poor performance of state-owned enterprises, ongoing load shedding, historical underinvestment in infrastructure, and rising levels of crime as the most urgent obstacles to growth,’ the Presidency said on Wednesday.

In its meeting, chaired by President Cyril Ramaphosa, the PEAC welcomed the actions currently underway to address these challenges, and discussed proposals to strengthen state capacity, professionalise the public service, and improve the governance of state-owned enterprises.

Further proposals included a proactive green industrial strategy to harness South Africa’s significant renewable energy resources, support for small businesses and the informal sector, and measures to accelerate implementation
of the Energy Action Plan and end load shedding.

The President chaired the meeting of the PEAC to discuss current economic developments and measures to support economic growth and job creation.

‘Members of PEAC commended the progress made in advancing economic reform, including in the energy, transport, and telecommunications sectors, as well as in rebuilding state institutions that were weakened by state capture.

‘The recently released results of Census 2022 show that the quality of life has improved for millions of South Africans since the previous census, including through expanded access to education, water, electricity, housing, and other basic services,’ the Presidency said.

Finally, the PEAC discussed South Africa’s role in advocating for the reform of the international financial architecture.

The PEAC further supported the call for appropriate financing mechanisms to support the climate transition in developing countries.

The Presidency said the analysis and recommendations provided by PEAC cont
inue to play a key role in informing government policymaking.

Source: South African Government News Agency

National Assembly launches 2023-2027 Strategic Plan

WINDHOEK: The National Assembly on Thursday launched the 2023 to 2027 Strategic Plan in the capital.

The National Assembly provides an important platform for members of parliament to discuss Government policy, propose new legislation, amend or repeal outdated laws, amend the Constitution, or discuss other topics of national interest.

Speaking at the launch, Peter Katjavivi, Speaker of the National Assembly, said, ‘The National Assembly has been unwavering in its pursuit to rekindle the agenda for change as envisioned by our founding fathers and mothers. Over the next five years, our focus will be on two strategic pillars: first, enhancing the effectiveness of legislation, oversight, and representation, and secondly; elevating service delivery. These pillars are designed to position the National Assembly not only to implement its mandate effectively, but also to embody our mission and perform our core functions, underpinned by values of accountability, integrity, patriotism, inclusivity and teamwork.’

Refle
cting on the 2018-2020 Strategic Plan, Katjavivi expressed joy at the substantial advancements in integrating information and communication technology. He noted that the successful rollout of the first phase of the e-Parliament initiative marks a significant milestone.

The Director of Committee Services at the National Assembly, Joyce Nakuta, said at the event that, ‘as a constitutional democracy, our focus is people-centred; our mission is to provide effective and efficient support services to members of the National Assembly to enable them to execute their constitutional duties of legislation and representation in the best interest of the people of Namibia. Our core value is patriotism; we take pride in devoting ourselves as the National Assembly to the diversity of Namibia and our devotion to the people of Namibia.’

The strategy’s implementation arrangement is spearheaded by the Speaker’s Roundtable, bringing together the secretariat and key stakeholders including the Anti-Corruption Commission, the Elec
toral Commission of Namibia, the Office of the Ombudsman, the Public Service Commission, and numerous civil society organizations, with the aim of fostering accountability.

Source: The Namibia Press Agency

Suspected robber killed in Havana

WINDHOEK: An unidentified man was fatally shot in Windhoek’s Havana informal settlement in the early hours of Thursday.

According to a report issued by Namibian Police Force (NamPol) spokesperson, Deputy Commissioner Kauna Shikwambi, witnesses were woken up by three gunshots and a person screaming around 02h00.

According to witnesses, the deceased appeared to have been involved in an attempted robbery.

‘One of the witnesses looked through a window and allegedly saw two suspects, one of whom was pointing a gun at the victim (deceased), who was trying to get up from the ground while screaming. The man pointing the gun was allegedly asking him why he wanted to rob him. The two suspects ran away. Upon the arrival of the police at the scene, they found the body of the deceased with a stone in his hand,’ Shikwambi said.

The deceased is unknown at this stage and there have been no arrests in the matter.

Police investigations continue.

Source: The Namibia Press Agency

CoW management committee still incomplete

WINDHOEK: The City of Windhoek management committee remains incomplete as council failed to nominate office bearers to fill the two remaining positions on Thursday.

The City of Windhoek chambers sat in silence at the call of District Magistrate Celma Amadhila to raise nominations from the council for the two remaining positions on the management committee.

In December 2023, SWAPO party member Queen Kamati, alongside former city mayor, Joseph Uapingene who is a member of NUDO, were elected mayor and deputy mayor respectively, together with SWAPO party councilors, Fransina Kahungu, Sam Shafiishuna Nujoma and Austin Kwenani. The Council, at the time, failed to elect the last two office bearers, after some councilors walked out of the council meeting, while a few abstained from electing.

City of Windhoek Chief Executive Officer, Moses Matyayi, at the start of the council meeting stressed the importance of having a complete management committee.

‘The constituting of the management committee is quite critical t
o the process, this process is legal it is a law and it must be abided to and complied with at all times, not only by the administration but by the leaders, in order to ensure the functioning of the institution continues accordingly. Without it, we will not be able to continue with the business process,’ Matyayi stated.

Affirmative Repositioning Movement Councilors, Job Amupanda, Ilse Keister-Elago and Landless People’s Movement Councilor, Sade Gawanas, did not attend proceedings.

Meanwhile, Kahungu raised concerns that last year at the first election session, a number of councilors indicated that they will not be available for Thursday’s election session, yet the council carried on with the scheduled date.

Amadhila has since adjourned the election to 08 February 2024.

Source: The Namibia Press Agency

CORRECTION: Chiefs’ Assembly condemns violence in Gaza

WINDHOEK: The Chiefs’ Assembly (CA) of the Ovaherero and Ovambanderu traditional leaders expressed its solidarity with the civilian population of Gaza on Monday.

‘The Chiefs Assembly joins all progressive and peace-loving peoples of the world, in solidarity with the civilian population of Gaza, who are bearing the brunt of Israeli bombardments,’ it said in a statement released by co-chairpersons Jeffrey Kavendji and Mbakumua Hengari.

The CA acknowledged South Africa’s International Court of Justice (ICJ) genocide case against Israel, saying it ‘awaits the verdict of the application by SA for an order for Israel to stop the indiscriminate bombardments of Gaza with bated breath.’

South Africa is accusing Israel of committing the crime of genocide in Gaza in violation of the 1948 Genocide Convention, which both countries are party to.

‘We hope the ICJ, in terms of the 1948 United Nations Convention on the Prevention and Punishment of the Crime of Genocide, delivers the Palestinians from near annihilation as
seems destined by Israel’s bombardments,’ said the statement.

The Chiefs’ Assembly however also criticised Namibia’s reference to apartheid in supporting South Africa and said it noted a perceived lack of genuine engagement on the Namibian genocide issue.

The statement quoted the Ministry of International Relations’ statement in support of South Africa, which said ‘It is against this background and its own history of being subjected to an illegal occupation and apartheid, that Namibia is, amongst others, participating in the ongoing advisory proceedings at the ICJ.’

They said this reference lacks contextual relevance, considering Namibia’s own historical context of genocide by Germany.

‘In the case of Namibia there is an appropriate context and/or ‘experience’… which is the genocide in Namibia against the Ovaherero and Nama,’ it said in reference to the 1904-1908 genocide, which led to the deaths of over 100 000 Herero and Nama at the hands of German colonial forces.

It said the reference of the ministry
‘s executive director, Ambassador Penda Naanda, to apartheid in a matter of genocide is ‘self-evident of the Namibian government’s disposition, posture, position and policy on the call by the descendants (of victims of the 1904-1908 genocide) for Germany to acknowledge their genocide.’

After more than five years of negotiations, Germany in May 2021 said it recognised it committed a genocide in Namibia and pleged more than 1.1 billion euros ($1.2 billion) in development aid over 30 years to benefit the descendants of the Herero and Nama, but the affected communities are not in agreement with the offer.

Source: The Namibia Press Agency