Category: Press Releases

RICHMOND, British Columbia, Aug. 09, 2023 (GLOBE NEWSWIRE) — Today, General Fusion announced a new Magnetized Target Fusion (MTF) machine that will fast-track the company’s technical progress. To be built at the company’s new Richmond headquarters, this ground-breaking machine is designed to achieve fusion conditions of over 100 million degrees Celsius by 2025, and progress toward scientific breakeven by 2026. In addition, the company completed the first close of its Series F raise for a combined $25 million USD (approximately $33.5 million CAD) of funding. The round was anchored by existing investors, BDC Capital and GIC. It also included new grant funding from the Government of British Columbia, which builds upon the Canadian government’s ongoing support through the Strategic Innovation Fund (SIF).

This machine represents a significant new pillar to accelerate and de-risk General Fusion’s Demonstration Program, designed to leverage the company’s recent technological advancements and provide electricity to the grid with commercial fusion energy by the early to mid-2030s.

Called Lawson Machine 26 (LM26), the MTF demonstration is designed to be cost-efficient and produce results quickly using General Fusion’s unique approach to fusion. LM26 will validate the company’s ability to symmetrically compress magnetized plasmas in a repeatable manner and achieve fusion conditions at scale. The machine will integrate General Fusion’s existing operational plasma injector (PI3) with a new lithium liner compression system. PI3 is the culmination of 24 predecessor prototypes and over 200,000 plasma experiments. It is one of the world’s largest and most powerful operational plasma injectors, having already demonstrated plasma temperatures of five million degrees Celsius, along with 10 millisecond self-sustaining energy confinement time. Both are critical steppingstones to achieving LM26’s target of fusion conditions in 2025 and equivalent scientific breakeven in 2026.

Over the next two to three years, General Fusion will work closely with the UK Atomic Energy Authority to validate the data gathered from LM26 and incorporate it into the design of the company’s planned commercial scale demonstration in the UK.

General Fusion’s MTF technology is unique in the fusion market. Unlike others, it was designed to scale for cost-efficient power plants from its inception by deliberately avoiding the pitfalls of other approaches that require expensive superconducting magnets or high-powered lasers. As a result, the path to generating zero-carbon electricity for the grid is shorter for General Fusion than other approaches, which still need to address longstanding barriers to the commercialization of fusion, such as machine durability (i.e., the “first wall” issue), fuel production, simple energy conversion, and commercial production economics.

Quotes:
“Our government is committed to fighting climate change and achieving net-zero by 2050. Our support in General Fusion will help position Canada as a world leader in fusion energy technology,” said The Honourable François-Phillipe Champagne, Minister of Innovation, Science and Industry.

“Our government is building on our thriving knowledge and innovation-based economy to create good, sustainable jobs for all British Columbians,” said Brenda Bailey, B.C. Minister of Jobs, Economic Development and Innovation. “B.C.’s $5-million (CAD) contribution to General Fusion’s energy project will support a sustainable and resilient economy and advance fusion research in our province.”

“Our updated three-year Fusion Demonstration Program puts us on the best path forward to commercialize our technology by the 2030s,” said Greg Twinney, CEO, General Fusion. “We’re harnessing our team’s existing strengths right here in Canada and delivering high-value, industry-leading technical milestones in the near term.”

“I founded General Fusion driven by a commitment to fundamentally transform the world’s energy grid with zero-carbon energy. The only way to do this, and fight climate change, is with a practical and affordable approach to fusion energy – Magnetized Target Fusion,” said Dr. Michel Laberge, Founder and Chief Science Officer. “Every decision we make at General Fusion comes back to this commitment.”

“Over 20 years, General Fusion has achieved significant technical milestones, and validated all key elements of the MTF approach including plasma stability, temperature, and compression,” said Zoltan Tompa, Senior Partner, BDC Capital’s Climate Tech Fund II. “The new LM26 machine represents a capital efficient steppingstone to de-risk their Fusion Demonstration Program while accelerating the delivery of critical milestones such as fusion conditions and energy breakeven.”

Quick Facts:

• Fusion energy is the ultimate clean energy solution – it is the energy source that powers the sun and stars. Fusion is the process by which two light nuclei merge to form a heavier one, producing a massive amount of energy.
• Magnetized Target Fusion uniquely sidesteps challenges to commercialization that other technologies face. The game-changer is a proprietary liquid metal liner in the commercial fusion machine that is mechanically compressed by high-powered pistons. This enables fusion conditions to be created in short pulses rather than creating a sustained reaction. General Fusion’s design does not require large superconducting magnets or an expensive array of lasers.
• LM26’s plasmas will be approximately 50 percent scale of a commercial fusion machine. It is designed to reach fusion conditions of over 100 million degrees Celsius (10 keV). It aims to achieve deuterium-tritium breakeven equivalent using deuterium fuel.
• Reference to breakeven in the context of LM26 refers to the deuterium-tritium breakeven equivalent using deuterium fuel, an industry-standard approach.

About General Fusion
General Fusion is pursuing a fast and practical approach to commercial fusion energy and is headquartered in Richmond, Canada. The company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers. Learn more at www.generalfusion.com.

General Fusion Media Relations
media@generalfusion.com
+1-866-904-0995

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GlobeNewswire Distribution ID 8891005

 REGULATED INFORMATION

Nyxoah Reports Second Quarter and First Half 2023 Financial and Operating Results

Mont-Saint-Guibert, Belgium – August 8, 2023 10:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today reported financial and operating results for the second quarter and first half of 2023.

Recent Financial and Operating Highlights

• Presented 12-month efficacy data¹ on the first 34 DREAM patients and safety data on all DREAM patients at SLEEP 2023, demonstrating a 65% AHI responder rate, a 76% ODI responder rate and safety in-line with expectations. These data are preliminary and not conclusive of final DREAM success.
• Filed the second module in the modular PMA submission.
• Accelerated U.S. pre-commercialization efforts, focused on market access and commercial leadership.
• Continued to enroll the ACCCESS U.S. IDE pivotal study to treat complete concentric collapse (CCC) patients. Implant completion is expected in 2024.
• Reported second-quarter sales of €1.1 million and ended the quarter with 42 active German accounts.
• Ended the quarter with a cash position of €84.5 million, providing an anticipated cash runway into late 2024.

“Being less than nine months away from the DREAM study readout, our attention continues to be on patient follow up. We are highly encouraged by both the efficacy and safety data presented at SLEEP 2023. Our modular PMA filing is well underway, with the second module submitted during the quarter,” commented Olivier Taelman, Nyxoah’s Chief Executive Officer. “We are building strong commercial expertise in the competitive German market. Our direct-to-consumer advertising, helpline and referral networks have increased HGNS penetration and give us confidence on entering new markets.”

CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS (unaudited)
 (in thousands)

					For the three months ended June 30									For the six months ended June 30
			2023				2022					2023						2022
Revenue			€ 1,107						€ 936					€ 1,548				€ 1,595
Cost of goods sold			( 419)						( 334)					( 594)				( 623)
Gross profit			€ 688						€ 602					€ 954				€ 972
Research and Development Expense			(6,605)						(3,470)					(12,762)				(7,065)
Selling, General and Administrative Expense			(6,185)						(4,536)					(11,736)				(8,729)
Other income/(expense)			219						14					265				150
Operating loss for the period			€ (11,883)						€ (7,390)					€ (23,279)				€ (14,672)
Financial income			789						4 669					1 414				6 246
Financial expense			( 775)						(2 162)					(1,732)				(2 950)
Loss for the period before taxes			€ (11,869)						€ (4,883)					€ (23,597)				€ (11,376)
Income taxes			( 928)						( 107)					(1,110)				( 315)
Loss for the period			€ (12,797)						€ (4,990)					€ (24,707)				€ (11,691)
Loss attributable to equity holders			€ (12,797)						€ (4,990)					€ (24,707)				€ (11,691)
Other comprehensive loss
Items that may be subsequently reclassified to profit or loss (net of tax)
Currency translation differences			( 50)						( 12)					( 78)				( 114)
Total comprehensive loss for the year, net of tax			€ (12,847)						€ (5,002)					€ (24,785)				€ (11,805)
Loss attributable to equity holders			€ (12,847)						€ (5,002)					€ (24,785)				€ (11,805)
Basic Loss Per Share (in EUR)			€ (0.447)						€ (0.193)					€ (0.907)				€ (0.453)
Diluted Loss Per Share (in EUR)			€ (0.447)						€ (0.193)					€ (0.907)			€ (0.453)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (unaudited)

(in thousands)

			As at
			June 30 2023		December 31 2022
ASSETS
Non-current assets
Property, plant and equipment			2,813		2,460
Intangible assets			44,488		39,972
Right of use assets			3,571		3,159
Deferred tax asset			48		47
Other long-term receivables			165		173
			€ 51,085		€ 45,811
Current assets
Inventory			1,146		882
Trade receivables			1,820		1,463
Other receivables			2,262		1,775
Other current assets			1,576		1,284
Financial assets			67,919		76,968
Cash and cash equivalents			16,604		17,888
			€ 91,327		€ 100,260
Total assets			€ 142,412		€ 146,071
EQUITY AND LIABILITIES
Capital and reserves
Capital			4,924		4,440
Share premium			246,070		228,275
Share based payment reserve			7,005		5,645
Other comprehensive income			98		176
Retained loss			(142,522)		(118,212)
Total equity attributable to shareholders			€ 115,575		€ 120,324
LIABILITIES
Non-current liabilities
Financial debt			8,433		8,189
Lease liability			2,991		2,586
Pension liability			50		−
Provisions			127		59
Deferred tax liability			−		−
			€ 11,601		€ 10,834
Current liabilities
Financial debt			559		388
Lease liability			751		719
Trade payables			4 690		4,985
Current tax liability			4 475		3,654
Other payables			4 761		5,167
			€ 15,236		€ 14,913
Total liabilities			€ 26,837		€ 25,747
Total equity and liabilities			€ 142,412		€ 146,071

Revenue

Revenue was €1.1 million for the second quarter ending June 30, 2023, compared to €0.9 million for second quarter ending June 30, 2022.

Cost of Goods Sold

Cost of goods sold was €0.4 million for the three months ending June 30, 2023, representing a gross profit of €0.7 million, or gross margin of 62.2%. This compares to total cost of goods sold of €0.3 million in the second quarter ending June 30, 2022, for a gross profit of €0.6 million, or gross margin of 64.3%.

Research and Development Expenses

Research and development expenses were €6.6 million for the three months ending June 30, 2023, versus €3.5 million for the prior year period, driven by an acceleration in clinical activities, notably the start of the ACCCESS study.

Selling, General and Administrative Expenses

Selling, general and administrative expenses rose to €6.2 million for the second quarter of 2023, up from €4.5 million in the second quarter of 2022. This was due primarily to increased commercial efforts in Germany and other European markets, as well as investments in Nyxoah’s corporate infrastructure. The Company expects to continue adding headcount across the organization ahead of the U.S. commercial launch.

Operating Loss

Total operating loss for the second quarter 2023 was €11.9 million versus €7.4 million in the second quarter of 2022. This was driven by the acceleration in the Company’s R&D spending, as well as ongoing commercial and clinical activities.

Cash Position
As of June 30, 2023, cash and financial assets totaled €84.5 million, compared to €94.9 million on December 31, 2022. Total cash burn was approximately €4.8 million per month during the second quarter of 2023.

First Half 2023 Report
Nyxoah’s financial report for the first half 2023, including details of the consolidated results, are available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

Conference call and webcast presentation
Nyxoah will conduct a conference call open to the public today at 10:30pm CET / 4:30pm ET. A webcast of the call will be accessible via the Investor Relations page of the Nyxoah website or through this link: Nyxoah’s Q2 2023 earnings call webcast. For those not planning to ask a question of management, the Company recommends listening via the webcast.

If you plan to ask a question, please use the following link: Nyxoah’s Q2 2023 earnings call. After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, the Company suggests registering a minimum of 10 minutes before the start of the call.

The archived webcast will be available for replay shortly after the close of the call.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; and the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission (“SEC”) on March 22, 2023, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

¹ For the trial to be successful, of the 115 patients, at least 63% of patients need to be AHI and ODI responders at the 12-month follow-up.

Attachment

• ENGLISH_Q2 2023 Earnings PR

GlobeNewswire Distribution ID 1000833480

— Investigation Has Uncovered Evidence of Illegal Trading Activity–
–Taking Aggressive Action to Safeguard Shareholder Interests–

LONDON, Aug. 08, 2023 (GLOBE NEWSWIRE) — Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and cybersecurity, today addressed the price volatility in trading of its stock, which the company suspects is due in large part to illegal manipulation.

Gorilla Chairman and Chief Executive Officer Jay Chandan made the following statement:

“Since the merger last summer that took Gorilla public, we have suspected that the volatile trading in our stock was due to more than simple ‘market action’. Huge moves in our share price were often completely unrelated to any news about the company, its sector or its competitors. Over the past few months, we have employed many resources to investigate our suspicions, and now have gathered sufficient evidence of wrongdoing that we feel compelled to warn the public.”

“Most importantly, an investigation by an economic analysis firm with expertise in suspicious trading activity has uncovered compelling evidence suggesting manipulation of our share price. Furthermore, our own review of communications with several of our large shareholders has uncovered evidence of illegal attempts to extort below-market sales of our shares, as well as evidence of illegal attempts at collusion to take activist actions that we believe would harm the company.”

“Today we are putting the suspected bad actors on notice. We know what you have been doing, and we will not sit still and allow you to attempt to destroy our company to enrich yourselves. We will vigorously employ all the tools at our disposal to stop you. I come from a humble background and I am well aware of what it takes to make a single dollar. My heart aches when I see erosion in the value of our shareholders, both retail and institutional, our employees and all good people who believe in Gorilla to becoming a thriving success.”

“Gorilla is an edge AI security convergence company at the beginning stage of material global business growth. Our recently signed contract with the government of Egypt, along with other projects, gives us visibility on up to $300 million of revenue over the next three years, and we continue to build pipeline of other business globally. This is a dramatic change in the profile of the company, and shows the scale of project that we can now service for a larger customer base. The material global business win is a result of the efforts and contributions of our new leadership team. To protect our shareholder value, we stand strong to investigate thoroughly any unlawful attacks from illicit traders that are contributing nothing to our success but rather attempting to harm the company’s growth. We remain confident that we will grow Gorilla into a successful global business in the edge AI security industry in the years ahead.”

About Gorilla Technology Group Inc.

Gorilla, headquartered in London U.K., is a global solution provider in security intelligence, network intelligence, business intelligence and IoT technology. Gorilla develops a wide range of solutions including Smart Cities, Smart Retail, Enterprise Security, and Smart Media. In addition, Gorilla provides a complete Security Convergence Platform to government institutions, telecom companies and private enterprises with network surveillance and cyber security.

Gorilla places an emphasis on offering leading technology, expert service, and precise delivery, and ensuring top-of-the-line, intelligent and strong edge AI solutions that enable clients to improve operational performance and efficiency. With continuous core technology development, Gorilla will deliver edge AI solutions to managed service providers, distributors, system integrators, and hardware manufacturers. For more information, please visit our website: Gorilla-Technology.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements include, without limitation, statements referencing Gorilla’s contract with the Government of Egypt, the development of the market for smart-government security products, the effects of integrating smart government security products, Gorilla’s ability to enforce its rights against those suspected to have engaged in illegal activity with respect to the company’s stock, and Gorilla’s ability to win additional projects and execute definitive contracts related thereto. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors, including those described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on April 28, 2023, and those that are included in any of Gorilla’s future filings with the SEC, are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Media Contact:
Jeff Fox
The Blueshirt Group for Gorilla
+1 (415) 828-8298
jeff@blueshirtgroup.com

Investor Relations Contact:
Gary Dvorchak
The Blueshirt Group for Gorilla
+1 (323) 240-5796
gary@blueshirtgroup.com

Scott McCabe
The Blueshirt Group for Gorilla
+1 (917) 434-3275
scott@blueshirtgroup.com

NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) — The Metals Company (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that it will host a conference call on Monday, August 14, 2023, to provide an update on second quarter financial results and recent corporate developments.

Second Quarter 2023 Conference Call Details

Date:	Monday, August 14, 2023
Time:	4:30 p.m. ET
Audio-only Dial-in:	Register Here
Virtual webcast with slides:	Register Here

The virtual webcast will be available for replay in the ‘Investors’ tab of the Company’s website under ‘Investors’ > ‘Media’ > ‘Events and Presentations’, approximately two hours after the event.

About The Metals Company

The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion-Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.

More information is available at www.metals.co.

Contacts
Media | media@metals.co
Investors | investors@metals.co

GlobeNewswire Distribution ID 8889600