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FN Media Group News Commentary – The mining industry’s increasing focus on sustainability and responsible practices is influencing nickel mining. Companies are adopting environmentally friendly processes to meet regulatory standards and consumer expectations. According to a recent report from Precedence Research said: ‘The global nickel mining market size is calculated at USD 56.42 billion in 2025 and is forecasted to reach around USD 100.29 billion by 2034, accelerating at a CAGR of 6.56% from 2025 to 2034. The Asia Pacific market size surpassed USD 30.81 billion in 2024 and is expanding at a CAGR of 6.65% during the forecast period. The market sizing and forecasts are revenue-based (USD MillionBillion), with 2024 as the base year. The global nickel mining market size accounted for USD 53.12 billion in 2024 and is predicted to increase from USD 56.42 billion in 2025 to approximately USD 100.29 billion by 2034, expanding at a CAGR of 6.56% from 2025 to 2034.’ It continued: ‘North America is set for swift expansion in the nickel mining market owing to a heightened need for nickel in electric vehicle (EV) manufacturing and renewable energy applications. The region’s commitment to clean energy initiatives and carbon reduction fuels the demand for nickel, essential in EV battery production. Supported by favorable government policies, investments in sustainable mining methods, and advancements in mining technologies, North America stands as a pivotal player in the growing nickel mining sector on the global stage. The rapid expansion of the electric vehicle (EV) market stands as a pivotal catalyst, driving a surge in nickel demand. Nickel’s indispensable role in electric vehicle batteries positions it as a cornerstone element in this burgeoning market. Projections from the International Energy Agency (IEA) indicate a noteworthy 41% increase in global electric car sales, surpassing 3 million units in 2020, underscoring the heightened nickel consumption associated with the EV boom.’   Active Companies mentioned in the article includes: First Atlantic Nickel Corp. (OTCQB: FANCF) (TSX-V: FAN), TMC the metals company Inc. (NASDAQ: TMC), Tesla, Inc. (NASDAQ: TSLA), FPX Nickel Corp. (OTCQB: FPOCF) (TSX-V: FPX), Power Metallic Mines Inc. (OTCBB: PNPNF) (TSX-V: PNPN).

Precedence Research continued: ‘Ongoing advancements in mining technologies have improved efficiency and extraction rates in nickel mining. These technologies contribute to increased productivity and cost-effectiveness. For instance, the utilization of automation and advanced drilling techniques has enhanced extraction processes, positively impacting production volumes. Large-scale infrastructure projects worldwide drive demand for nickel in applications such as bridges, railways, and buildings. The Global Infrastructure Hub estimates that the global infrastructure investment need will reach $94 trillion by 2040, creating a sustained demand for nickel in construction materials. Supportive government policies and investments in mining infrastructure further stimulate growth. Governments recognizing the strategic importance of nickel in industrial development may implement favorable policies.’

First Atlantic Nickel Corp. (OTCQB: FANCF) (TSX-V: FAN) REPORTS PRELIMINARY DTR METALLURGICAL RESULTS: RPM ZONE YIELDS 1.37% NICKEL MAGNETIC CONCENTRATE OVER 383.1 METRES – First Atlantic Nickel Corp. (FSE: P21) (‘First Atlantic’ or the ‘Company’) is pleased to announce positive preliminary Davis Tube Recovery (DTR) metallurgical test results from drill hole AN-24-02 at the RPM Zone at its 100%-owned Atlantic Nickel Project in central Newfoundland. The testing produced a magnetic concentrate averaging 1.37% nickel and 1.73% chromium across 133 samples over the entire 383.1-meter length of the hole. These encouraging results confirm the potential for cost-effective magnetic separation as a viable processing method for the awaruite nickel mineralization previously reported at the RPM Zone.

The Company previously announced (March 4, 2025) that drill hole AN-24-02 returned assays averaging 0.24% nickel and 0.32% chromium over its entire 383.1-meter length, with coarse-grained awaruite visibly disseminated throughout the drill core. The DTR testing has now demonstrated that this nickel can be effectively concentrated through magnetic separation, a key step toward establishing a potential smelter-free development pathway for the project.

DTR Test Highlights:

  • High-Grade Magnetic Concentrate : Average magnetic concentrate grade of 1.37% nickel and 1.73% chromium across 133 samples over 383.1 meters, with concentrate up to 2.33% nickel and 8.17% chromium.
  • Significant Volume Reduction : Mass-pull average of 9.5% over 383.1 meters, reducing total volume by 91.5% and creating an ideal feedstock for further processing
  • Strong Recovery Rates : Calculated recoveries averaging 52.4% (up to 63%) over the entire drill hole length.
  • DTR Nickel Values : Average DTR nickel of 0.13% (up to 0.16%) over 383.1 meters
  • Cobalt Recovery : Cobalt was also recovered in the magnetic concentrate, adding potential for a valuable by-product.
  • Chromium Potential : Significant chromium values in the magnetic concentrate merit further evaluation as a potential by-product.
  • Phase 2 Drilling Program : Phase 2 drilling is set to begin soon, utilizing new road access and a higher-power NQ/HQ drill rig to target deeper mineralization and expand the 500m × 400m mineralized area at RPM. The program is fully funded by a recently closed strategic, non-dilutive $3M raise.

‘These metallurgical results are extremely significant for our Atlantic Nickel Project,’ said Adrian Smith, CEO of First Atlantic Nickel. ‘Not only have we confirmed extensive nickel mineralization at the RPM Zone, but we’ve now demonstrated that a substantial portion of this nickel can be recovered using simple, environmentally friendly magnetic separation techniques. The ability to achieve a 91.5% volume reduction while producing a concentrate grading 1.37% nickel represents a major step toward our goal of developing a North American source of nickel that doesn’t require traditional smelting.’ CONTINUED…   Read this and more news for First Atlantic Nickel   at: https://www.fanickel.com/archive

In other market news of interest:

Tesla, Inc. (NASDAQ: TSLA) has recently released its financial results for the fourth quarter and full year ended December 31, 2024 by posting an update on its Investor Relations website. Please visit https://ir.tesla.com to view the update.

‘In the fourth quarter, we produced approximately 459,000 vehicles, delivered over 495,000 vehicles and deployed 11.0 GWh of energy storage products – a record for both deliveries and deployments. Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve these results.’

FPX Nickel Corp. (OTCQB: FPOCF)   (TSX-V: FPX) recently announced results from an Awaruite Refinery Scoping Study (the ‘Study’) which demonstrates a compelling business case for the development of a standalone refinery (the ‘Refinery’) to refine awaruite concentrate into battery-grade nickel sulphate for the electric vehicle (‘EV’) industry, along with producing valuable cobalt, copper, and ammonium sulphate by-products.

The Study has been prepared by Wood Canada Limited and all amounts are in US Dollars unless otherwise indicated. The Study relates to a standalone industrial project and anticipates the production of awaruite ore from projects that are not limited to mineral projects of the Company; without limiting the foregoing, the Study is separate and standalone from the Baptiste Nickel Project, which demonstrated the technical and commercial advantage of mining and concentrating awaruite ore to a high-grade awaruite concentrate.

Power Metallic Mines Inc. (OTCBB: PNPNF) (TSX-V: PNPN) recently announced the return of the 5 holes of the fall campaign. These holes were testing multiple targets in the Lion zone area.   Hole PN-24-095a tested the interpreted plunge of the Lion zone below previous drill holes. Power Nickel previously released photos of mineralized core from hole PN-24-095a (news release January 21, 2025), and assays have now confirmed that extension of the high-grade zone.

Drill holes PN-24-082 to PN-24-085 inclusive, were designed to intersect the target horizon 100-200m west of known mineralization at depths below the ground and airborne EM signals), therefore they were testing unknown locations along the target horizon. Although the holes passed through the target horizon they only returned weakly geochemically anomalous Pt and Pd (up to 0.14g/t combined). These holes were specifically located to provide platforms for borehole EM (BHEM) surveys, which will be carried out this month. The BHEM should give a ‘look’ radius of 150-200 meters around the hole for any off-hole conductors indicative of mineralization.

TMC the metals company Inc. (NASDAQ: TMC) , an explorer of the world’s largest undeveloped resource of critical battery metals, recently announced that it had successfully produced a high-grade nickel-copper-cobalt alloy and manganese silicate during a smelting campaign, run as part of the 18-month feasibility program designed to process a 2,000-tonne sample of deep-seafloor polymetallic nodules at its partner PAMCO’s Rotary Kiln Electric-Arc Furnace (RKEF) operating facility in Hachinohe, Japan.

Following the recovery of 3,000 tonnes of nodules during 2022 test mining by TMC’s subsidiary Nauru Ocean Resources Inc (NORI) from its exploration contract area D in the Clarion Clipperton Zone (CCZ), 2,000 tonnes were delivered to PAMCO’s RKEF plant to go through a feasibility program consisting of calcining and smelting campaigns. Following the commercial-scale production of calcine in September 2024, over a 14-day continuous smelting campaign in January and February 2025, PAMCO operators fed approximately 450 tonnes of calcine material into a 3,000 kVA DC electric-arc furnace and produced high-grade nickel-copper-cobalt alloy and manganese silicate [see video]. By utilizing existing processing capacity with minimal modifications to existing equipment, TMC can avoid the high costs and risks associated with building new processing plants, while demonstrating the feasibility of integrating processing of CCZ nodules into established metallurgical operations.

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DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated twenty five hundred dollars for news coverage of the current press releases issued by First Atlantic Nickel Corp. by a non-affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

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(TheNewswire)

Cette collaboration fait d’ABB le fournisseur privilégié d’équipements de sous-stations électriques modulaires et standards, avec des perspectives supplémentaires en matière de solutions d’automatisation

L’entente permettra à Charbone de faire progresser la production d’hydrogène vert au Canada et aux États-Unis

L’entente soutient la feuille de route énergétique 2030 du gouvernement du Québec visant à réduire la consommation de produits pétroliers d’un milliard de litres par année

Brossard, Québec TheNewswire – le 13 mars 2025 – CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule société cotée en bourse spécialisée dans l’hydrogène vert en Amérique du Nord, est ravi d’annoncer la signature d’un protocole d’entente( « MOU » ) avec ABB pour collaborer au développement pouvant aller jusqu’ à 15 usines de production d’hydrogène vert modulaires et évolutives en Amérique du Nord au cours des cinq prochaines années, fournissant une source de carburant propre aux utilisateurs d’hydrogène existants et aux processus industriels lourds tels que la fabrication de l’acier, qui utilisent actuellement l’hydrogène gris comme source d’énergie.

Le MOU positionne ABB comme fournisseur privilégié pour la conception, l’ingénierie, la fabrication, les tests et la fourniture de sous-stations électriques modulaires et standards (eHouses) pour l’interconnexion entre les usines de production et les services publics locaux. ABB soutiendra Charbone dans la normalisation de l’ingénierie de base des systèmes et des composants de son portefeuille de projets, afin d’accroître l’efficacité énergétique et la fiabilité. La portée des services positionne également ABB pour opérer en tant que principal entrepreneur en automatisation, électrification et télécommunications en fonction des exigences des projets .

Parmi les sites visés par cette collaboration, figure l’usine phare de Charbone à Sorel-Tracy, près de Montréal, au Québec, Canada. L’usine devrait être raccordée au réseau d’Hydro-Québec d’ici la fin du deuxième trimestre de 2025, et utiliser l’hydroélectricité pour alimenter des électrolyseurs produisant l’hydrogène vert. L’usine servira de modèle pour la conception et l’ingénierie d’équipements modulaires et évolutifs pour d’autres sites développés par Charbone. Le prochain projet à démarrer se situera dans la grande région de Détroit, aux États-Unis, qui est le berceau de la fabrication des principales entreprises automobiles.

Cette collaboration stratégique avec ABB est un signal fort et significatif concernant notre proposition pour le marché nord-américain de l’hydrogène vert ,’ a déclaré Daniel Charette, Chef de l’exploitation chez Charbone. Avec le projet de Sorel-Tracy évoluant rapidement vers des activités sur le site et des capacités avec une approche modulaire de type ‘plug and play’ pour démarrer la production en un nombre minimal de semaines, Charbone soutiendra la décarbonisation de l’industrie .

Le gouvernement du Québec a élaboré une stratégie locale en matière d’hydrogène vert et de bioénergie pour soutenir le déploiement de l’hydrogène et de la bioénergie pour alimenter des secteurs industriels comme le transport, les métaux primaires et les produits chimiques. Elle identifie l’hydrogène vert et la bioénergie comme ayant le potentiel de réduire la consommation de produits pétroliers du Québec de près d’un milliard de litres par année d’ici 2030. Cela pourrait réduire les émissions de gaz à effet de serre de la région de quatre mégatonnes de dioxyde de carbone par année, soit l’équivalent du retrait de 1,2 million de véhicules à essence des routes.

L’hydrogène vert a un rôle important à jouer dans la transition vers un avenir énergétique à faible émission de carbone ,’ a dit Per Erik Holsten, Président chez ABB Énergies Industrielles. Nous sommes fiers de collaborer avec Charbone sur sa stratégie de développement et de croissance d’installations de production d’hydrogène vert à travers l’Amérique du Nord, permettant à un secteur important de se développer et aidant les industries à devenir plus économes et plus propres .

En plus du MOU, Charbone fera l’acquisition du système ‘Extended Operator Workplace (EOW)’ d’ABB pour toutes les usines prévues et d’un poste de travail d’opérateur principal pour surveiller toutes ses installations en Amérique du Nord depuis le siège social de Charbone. Les EOW – les premiers à être installés dans des usines de production d’hydrogène vert en Amérique du Nord – amélioreront la productivité et réduiront les temps d’arrêts grâce à une surveillance 24 heures sur 24 et ce 7 jours sur 7 depuis des centres de contrôle locaux et à distance.

La demande mondiale d’hydrogène, largement concentrée dans les secteurs du raffinage et de la chimie, a atteint 97 mégatonnes (Mt) en 2023, soit une augmentation de 2,5 % par rapport à l’année précédente. La production d’hydrogène à faibles émissions était inférieure à 1 Mt, mais elle pourrait atteindre 49 Mtpa d’ici 2030 selon les projets annoncés.

À propos de Charbone Hydrogène Corporation

Charbone est une compagnie intégrée de production d’hydrogène vert axé sur la création d’un réseau nord-américain d’usines de production. En utilisant des énergies renouvelables, Charbone produit du dihydrogène (H2) respectueux de l’environnement pour les utilisateurs industriels, institutionnels, commerciaux et de la mobilité future. Charbone est présentement la seule société d’Amérique du Nord cotée en bourse spécialisée dans l’hydrogène vert avec ses actions listées sur la Bourse de croissance TSX (TSXV: CH); les marchés OTC (OTCQB: CHHYF); et la Bourse de Francfort (FSE: K47). Pour plus d’informations sur CHARBONE Hydrogen et ses projets, veuillez visiter www.charbone.com .

À propos de ABB

ABB est un leader technologique mondial dans le domaine de l’électrification et de l’automatisation, contribuant à un avenir plus durable et plus économe en ressources. En combinant son expertise en ingénierie et en numérisation, ABB aide les industries à atteindre des performances élevées, tout en devenant plus efficaces, plus productives et plus durables afin qu’elles surpassent leurs concurrents. Chez ABB, nous appelons cela « Conçu pour distancer ». L’entreprise a plus de 140 ans d’histoire et environ 110 000 employés dans le monde. Les actions d’ABB sont cotées à la SIX Swiss Exchange (ABBN) et au Nasdaq Stockholm (ABB). www.abb.com .

Énoncés prospectifs

Le présent communiqué de presse contient des énoncés qui constituent de « l’information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l’intention », « anticipe », « s’attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s’y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l’inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l’adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.

Sauf si les lois sur les valeurs mobilières applicables l’exigent, Charbone ne s’engage pas à mettre à jour ni à réviser les déclarations prospectives.

Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n’acceptent de responsabilité quant à la pertinence ou à l’exactitude du présent communiqué.

Pour contacter Corporation Charbone Hydrogène :

Téléphone bureau: +1 450 678 7171

Courriel: ir@charbone.com

Copyright (c) 2025 TheNewswire – All rights reserved.

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(TheNewswire)

Collaboration sets ABB as preferred supplier of modular and standard electrical substations, with future scope for automation solutions

Agreement will enable Charbone to progress green hydrogen production in both Canada and the United States

Supports the Québec government’s 2030 energy roadmap to reduce consumption of petroleum products by one billion liters per year

Brossard, Quebec TheNewswire – March 13, 2025 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the ‘Company’ or ‘CHARBONE’), North America’s only publicly traded pure-play green hydrogen company, is thrilled to announce the signing of a Memorandum of Understanding (MoU) agreement with ABB to collaborate on the development of up to 15 modular and scalable green hydrogen production facilities across North America over the next five years, providing a clean fuel source for existing hydrogen users and heavy industrial processes such as steelmaking, which currently use grey hydrogen as an energy source.

The MoU scope positions ABB as the preferred supplier for the design, engineering, fabrication, testing and supply of modular and standard electrical substations (eHouses) for the interconnection between production facilities and local utilities. ABB will support CHARBONE standardizing basic engineering for systems and components across its project portfolio, to increase energy efficiency and reliability. Future scope may also see ABB operate as the main automation, electrification and telecom contractor depending on project requirements .

Among the sites covered by the collaboration is CHARBONE’s flagship Sorel-Tracy facility near Montreal in Québec, Canada. The facility is expected to be connected to the Hydro-Québec grid by the end of quarter two in 2025, using hydro electricity to power green hydrogen electrolyzers. The plant will create a blueprint for the design and engineering of modular and scalable equipment for other sites being developed by Charbone. The next project to get underway will be in the greater Detroit area in the USA, which is the manufacturing base for major automotive companies.

This strategic collaboration with ABB is a strong and significant signal about our proposition for the North American green hydrogen market , said Daniel Charette, Chief Operating Officer of CHARBONE . With the Sorel-Tracy project moving quickly to on-site activities and the capabilities of plug and play modular approach to get production starting in a minimal number of weeks, Charbone will support the decarbonization of industry.

Government du Québec has developed a localized Green Hydrogen and Bioenergy Strategy to support the deployment of hydrogen and bioenergy to power industrial sectors such as transportation, primary metals and chemicals. It identifies green hydrogen and bioenergy as having the potential to reduce Québec’s consumption of petroleum products by nearly one billion liters a year by 2030. This could cut the region’s greenhouse gas emissions by four megatons of carbon dioxide a year – the equivalent of removing 1.2 million gasoline-powered vehicles from the roads .

Green hydrogen has an important role to play in the transition towards a low carbon energy future , said Per Erik Holsten, President of ABB Energy Industries . We are proud to collaborate with Charbone on its strategy to develop and grow green hydrogen production facilities across North America, enabling an important sector to scale and supporting industries to outrun leaner and cleaner.

In addition to the MoU, Charbone will acquire ABB’s Extended Operator Workplace (EOW) system for all the planned facilities and a main operator workplace to monitor all the facilities in North America from CHARBONE’s headquarters. The EOWs – the first to be installed in green hydrogen production plants in North America – will enhance production and reduce downtime via 24/7 monitoring from local and remote-control centers.

Global hydrogen demand, largely concentrated in the refining and chemical sectors, reached 97 megatons (Mt) in 2023, representing an increase of 2.5 percent year on year. Low-emissions hydrogen production was less than 1 Mt, but it could reach 49 Mtpa by 2030 based on announced projects.

About Charbone Hydrogen Corporation

CHARBONE is an integrated green hydrogen company focused on creating a network of modular green hydrogen production facilities across North America. Using renewable energy, CHARBONE produces eco-friendly dihydrogen (H2) for industrial, institutional, commercial, and future mobility users. CHARBONE is currently the only publicly traded pure-play green hydrogen company, with shares listed on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). For more information on Charbone Hydrogen and its projects, please visit www.charbone.com .

About ABB

ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and around 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com .

Forward-Looking Statements

This news release contains statements that are ‘forward-looking information’ as defined under Canadian securities laws (‘forward-looking statements’). These forward-looking statements are often identified by words such as ‘intends’, ‘anticipates’, ‘expects’, ‘believes’, ‘plans’, ‘likely’, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under ‘Risk Factors’ in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.

Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .

Contact Charbone Hydrogen Corporation

Telephone: +1 450 678 7171

Email: ir@charbone.com

Copyright (c) 2025 TheNewswire – All rights reserved.

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Three separate outages appeared to hit Elon Musk’s X social media site Monday as he claimed it was suffering a ‘massive cyberattack.’

Downdetector.com first registered thousands of reports of trouble accessing or using the site around 5:30 a.m. ET. It took about an hour before those issues subsided.

Then, around 9:30 a.m., the issues appeared to flare up again, with as many as 40,000 outage reports detected. It again took about an hour for that incident to dissipate.

Finally, around 11:10 a.m., the issues cropped up again, according to Downdetector.

A representative for X couldn’t immediately be reached for comment.

Musk said Monday afternoon on X that there had been a ‘massive cyberattack’ against the site.

‘We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved,” he said. He didn’t post any evidence of a cyberattack.

Experts said the outage was consistent with a distributed denial of service (DDoS) attack, a rudimentary but sometimes effective hacker tactic to overwhelm a website with traffic, effectively knocking it offline.

Isik Mater, the director of research at NetBlocks, a company that tracks global internet connectivity, told NBC News that X had suffered intermittent outages since Monday morning. While establishing a DDoS attack with certainty can be difficult, Mater said, Musk’s claim was plausible.

“It’s difficult to be certain, but given the pattern of three observed outages, a denial [of] service attack targeting X’s infrastructure can’t be ruled out,” she said. “It’s certainly one of the longest X/Twitter outages in our records.”

Musk said in an interview Monday afternoon on Fox Business that the outage was due to “a massive cyberattack to try to bring down the X system with IP addresses originating in the Ukraine area,” a reference to internet protocol addresses. IP addresses, strings of numbers assigned to all internet-connected devices, include codes indicating their countries of origin.

Large DDoS attacks usually rely on large armies of hacked devices from around the world. The IP addresses of the devices used against X aren’t public, and they are unlikely to be a reliable indication of where the attacker was based.

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The Federal Trade Commission asked a judge in Seattle to delay the start of its trial accusing Amazon of duping consumers into signing up for its Prime program, citing resource constraints.

Attorneys for the FTC made the request during a status hearing on Wednesday before Judge John Chun in the U.S. District Court for the Western District of Washington. Chun had set a Sept. 22 start date for the trial.

Jonathan Cohen, an attorney for the FTC, asked Chun for a two-month continuance on the case due to staffing and budgetary shortfalls.

The FTC’s request to delay due to staffing constraints comes amid a push by the Trump administration’s Department of Government Efficiency to reduce spending. DOGE, which is led by tech baron Elon Musk, has slashed the federal government’s workforce by more than 62,000 workers in February alone.

“We have lost employees in the agency, in our division and on our case team,” Cohen said.

Chun asked Cohen how the FTC’s situation “will be different in two months” if the agency is “in crisis now, as far as resources.” Cohen responded by saying that he “cannot guarantee if things won’t be even worse.” He pointed to the possibility that the FTC may have to move to another office “unexpectedly,” which could hamper its ability to prepare for the trial.

“But there’s a lot of reason to believe … we may have been through the brunt of it, at least for a little while,” Cohen said.

John Hueston, an attorney for Amazon, disputed Cohen’s request to push back the trial date.

“There has been no showing on this call that the government does not have the resources to proceed to trial with the trial date as presently set,” Hueston said. “What I heard is that they’ve got the whole trial team still intact. Maybe there’s going to be an office move. And by the way, both in government and private sector, I’ve never heard of an office move being more than a few days disruptive.”

The FTC sued Amazon in June 2023, alleging that the online retailer was deceiving millions of customers into signing up for its Prime program and sabotaging their attempts to cancel it.

“Amazon tricked and trapped people into recurring subscriptions without their consent, not only frustrating users but also costing them significant money,” former FTC Chair Lina Khan said at the time.

The FTC has also brought a separate case against Amazon, accusing it of wielding an illegal monopoly, in part by preventing sellers from offering cheaper prices elsewhere through its anti-discounting measures. That case, which the FTC filed in September 2023, is set to go to trial in October 2026.

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More than eight out of every 10 respondents to a Morgan Stanley survey believe Tesla CEO Elon Musk’s controversial political activities are hurting his business.

In total, 85% of the 245 participants polled by the firm believe Musk’s foray into politics has either had a “negative” or “extremely negative” impact on business fundamentals. The majority of respondents also expect Tesla deliveries to fall this year, according to the survey.

While a small sampling, these results offer the latest sign of mounting frustration with the billionaire entrepreneur as he’s become a rising figure in international and American politics. It also comes at a pivotal point for Tesla’s stock, with shares plunging nearly 40% this year.

When asked about Musk’s efforts with U.S. government efficiency and other political activities, 45% of respondents said these actions had a “negative” effect on the company. Another 40% said they were having an “extremely negative” impact.

On the other hand, 3% said they were “positive” for the business. Meanwhile, 12% called them “insignificant.”

To be sure, Morgan Stanley analyst Adam Jonas reported that his survey respondents are drawn from his email distribution list and should not be taken as a random representative sample. He also noted that the respondents are not necessarily owners of Tesla stock. The survey was taken over a 17-hour period, starting on Tuesday afternoon.

Jonas also asked about expectations for the company’s performance. In a separate question, 59% said they anticipated Tesla would deliver fewer cars to customers in 2025 compared with the prior year. What’s more, 21% of total respondents said they expected a decline of more than 10%. That comes as some analysts have raised alarm that recent reports of vandalism could spook potential customers.

Just 19% of responders said they forecasted deliveries to rise in 2025, while another 23% said they would be flat between the two years.

Musk’s political profile has grown after his public support of President Donald Trump in the runup up to last year’s election and his subsequent role leading the Department of Government Efficiency, or DOGE. The Tesla executive’s efforts to slash the federal government’s spending and workforce has drawn the ire of critics who see his team as working too quickly and haphazardly.

Musk acknowledged in an interview with Fox Business on Monday that his high-profile role in Trump’s administration meant he was running his businesses, which also include X and SpaceX, “with great difficulty.” That day, Tesla shares tumbled more than 15% for their worst session since 2020.

Despite the recent nosedive, 45% of respondents said they anticipate Tesla shares will be at least 11% higher by the end of the calendar year. Around 36% expect the stock to tumble another 11% or further by year-end, while 19% see the stock staying within 10% of its price around $220.

After a New York Times report last week unearthed criticisms of Musk’s team from members of Trump’s cabinet, the president offered a vote of confidence on Tuesday. Trump evaluated five Tesla vehicles parked at the White House after the president said on social media that he would buy one as a symbol of support.

Trump also said he would declare violence at Tesla dealerships to be acts of domestic terrorism.

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In this video, Dave analyzes the bearish rotation in his Market Trend Model, highlighting the S&P 500 breakdown below the 200-day moving average and its downside potential. He also identifies five strong stocks with bullish technical setups despite market weakness. Watch now for key technical analysis insights to navigate this volatile market!

This video originally premiered on March 10, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.

The S&P 500 ($SPX), Nasdaq Composite ($COMPQ), and DJIA ($INDU) are trading below their 200-day simple moving averages (SMAs). It doesn’t paint an optimistic picture, but the reality is that the stock market’s price action is more unpredictable than usual.

When President Trump imposed an additional 25% tariff on steel and aluminum imports from Canada, the stock market sold off. However, the selloff eased in afternoon trading, when there was a narrative shift in the tariff and Ukraine/Russia tensions front. But that changed towards the end of Tuesday’s close, with the broader indexes closing lower.

Navigating a headline-driven market is challenging. The Cboe Volatility Index ($VIX), the market’s fear gauge, eased a little on Tuesday, but has risen relatively steeply since February 21. All investors should monitor this closely, especially in a market that fluctuates several times on any given trading day.

Percentage Performance

It’s also important not to lose sight of the bigger picture. From a percentage performance point of view, how much damage has been done? To answer this question, it helps to view a PerfChart of the three broader indexes, S&P 500, Nasdaq, and Dow (see chart below).

FIGURE 1. ONE-YEAR PERFORMANCE OF S&P500, DOW JONES INDUSTRIAL AVERAGE, AND NASDAQ COMPOSITE. All three indexes are displaying weakening performance, but are still in positive territory.Chart source: StockCharts.com. For educational purposes.

Over the last year, the performance of the three indexes is in positive territory. The Dow is the weakest of the three, with a 6.87% gain. During the April 2024 low, performance was negative, but during the August low, the Dow skirted the zero level but was able to hang on. Given the trend in the performance of all three indexes is pointing lower, investors should be cautious when it comes to making decisions.

Value Performance

The daily chart of any of the three indexes is bleak. The one that looks the bleakest is probably the tech-heavy Nasdaq. Tech stocks have taken a beating of late, and the Nasdaq has been trading below its 200-day SMA for a few days (see chart below).

The bottom panel displays the percentage of Nasdaq stocks trading below their 200-day SMA. As you can see, it’s below 30%, which indicates an oversold level. There are no signs of reversal on this chart. In August, when the Nasdaq slipped below its 200-day SMA, it quickly recovered.

On Wednesday morning, investors will be tuned in to the February CPI data. Be sure to save the PerfChart in Figure 1 and the chart of the Nasdaq Composite in Figure 2 to your ChartLists. Click on the charts to see the live chart. Monitor them closely, since we’re likely to see a seesawing stock market for a while.

Closing Position

Note that when viewing a PerfChart, you can also compare the performance of different sectors or industry groups in addition to the broader indexes. All you have to do is change the symbols on the chart. If you see confirmed signals of a reversal in any asset class or group, it may be time to reevaluate your portfolio allocations.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Willem Middelkoop, founder of Commodity Discovery Fund, shared his thoughts on the commodities space, saying that an ‘era of shortages’ is arriving.

He believes that will propel prices up from today’s rock-bottom levels, creating investment opportunities.

Middelkoop also discussed geopolitics, looking at recent moves from the Trump administration.

Watch the interview above for more of his thoughts on those topics.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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